West Virginia's NEW 3.5% Mortgage Program and
Market Summary Report for Greenbrier County, July 2010
WV launches new 3.5 percent mortgage program
The West Virginia Housing Development Fund is offering 30-year, fixed-rate loans at 3.5 percent interest to low- and middle-income home buyers who qualify for the program. A $35 million bond issue will pay for the program. The money is expected to make about 280 loans available at this low interest rate.
- This rate is offered to home buyers on a first-come,
first-served basis. - Offers zero-percent interest loans to pay for closing costs and down payments.
- The low interest rates will apply to new construction, existing houses and modular homes.
- Income and home price limits vary by county.
For the past few weeks the area mortgage rates were at 4.5 percent for 30-year, fixed-rate loans. Now homebuyers who qualify for a 3.5 percent loan through the Housing Development Fund program would save about $125 a month in mortgage payments.
Additional information is available on the Housing Fund's
website at www.wvhdf.com, or call 877-WVA-DREAM.
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Greenbrier County, WV Market Summary Report for July, 2010
RESIDENTIAL SOLD LISTINGS
**** Information from the Greenbrier MLS is deemed to be reliable,but is not guaranteed.****
As noted in the above chart, 16 more residential listings were sold in July 2009 than in 2010; however, YTD 49 more residential listings have sold in 2010.
With interest rates so low and property value is down, this is a great time for qualified buyers to find their dream house.
Now is the time to buy before the interest rates start increasing. Give me a call and I will be happy to assist you in your home buying.
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