West Virginia Mortgage Information
West Virginia Mortgage Information
Due to the global financial meltdown, people are having problems finding jobs. The overall real estate isn’t doing too good either with prices of properties sinking extremely low. Although this is bad news for real estate agents, this is definitely good news for home buyers. With real estate prices relatively low in West Virginia, this is definitely the time to invest. Another incentive to entice you is the low purchasing costs. So, if you’re buying your 1st home, we have some great offers for you.
West Virginia has one of the lowest property tax rates in the country, which can actually translate into lower mortgage payments. This can encourage West Virginia first time home buyers go ahead and buy houses which they like. However, a West Virginia first time home buyer should collect all the required mortgage information from a professional before signing any deals with a mortgage providing institution.
One West Virginia first time home buyers program is My Community. It allows firemen, police officers, paramedic staff, teachers, nurses, etc. to take advantage of its benefits. It assists in down payments and closing costs cash payments. You can also use your part-time income and or over-time income for the last 12 month to qualify for this loan.
There is another program offered to the West Virginia first time home buyer, and is known as the VA program. It offers zero down payments up to a certain loan amount. You are eligible for this loan only if you have served in the army or military forces for 90 days during wartime and for 181 days during peacetime.
Another home mortgage program being offered to West Virginia first time home buyers is the West Virginia USDA Rural Program. This loan is offered to people living in rural areas and to those planning on buying a house in the rural areas of West Virginia. It asks for Zero down payment and no mortgage insurance.
Don’t forget to gather the information necessary for these programs. That way you can have yourself a home minus the hassle of mortgage.
