The Secondary Market program is a loan program designed to help all applicants purchase the house of their dreams. The program is NOT restricted to first-time homebuyers or income limits. It does offer competitive interest rates with as little as 3% required for down payment.  Applicants may qualify for the Home Ownership Assistance Loan to help defray down payment and closing costs.

Loan Terms
This program offers 10, 15, 20, or 30-year, fixed-rate mortgage loans. Up to 97% of the sales price of the home can be financed, requiring only 3% down payment. Loans insured with USDA Rural Housing can be financed up to 100%. The maximum loan amount under this program is $417,000.

Eligible Borrowers
The program is open to all income levels and does not have a first-time homebuyer requirement.

Eligible Properties
The property must be located in the state of West Virginia. Eligible properties include single, detached, existing, stick-built or modular homes; duplex, townhouse or condominium units; and new and used double-wide mobile/manufactured homes. (Single-wide mobile homes are not eligible.) This program includes loans to refinance, purchase, second  homes or investment properties.

Mortgage Insurance
All loans that exceed 80% of the value of the home must be insured by either a private mortgage insurance company or by USDA Rural Development.

Counseling
All applicants that receive a loan higher than 95% (except loans insured by USDA) of the value of the home must complete a home buyer education course.

Contact Us for more information on the Secondary Market Program.