LOGAN, W.Va. — A home built by PRIDE Community Services under a program from the W.Va. Housing Development Fund was recently sold.
The program provides lower income borrowers who have good credit with downpayment assistance and reduced interest rates.
Brenda York, purchasing clerk for PRIDE, said “It’s here to help someone who is working hard…they pay their bills and have a steady income but they just can’t afford to come up with a downpayment for a home the traditional way.”
Potential buyers who are eligible for the program could receive as much as $40,000 in downpayment assistance.
As a part of the agreement, buyers in the program agree to repay money from the downpayment assistance; however, if the buyer keeps their mortgage in good standing for 10 years, the loan for downpayment assistance is forgiven.
Buyers in the program are offered financing as low as one percent.
To qualify, potential buyers must also complete an eight hour housing counseling session.
While PRIDE has sold several homes in Logan County; however, this was the first in the Verdunville area.
The newly constructed home was 1,120 square feet and featured three bedrooms, two baths and a two-car driveway. All major appliances were also included.
Anyone who is interested in the program can contact York at PRIDE Community Services by calling 304-752-2585.
Owen Wells is a reporter for Civitas Media .He can be reached at 304-752-6950 ext. 1729 or by email at [email protected]