Editor’s Note: This story has been updated to correct a reporter error with the phone number and also income guidelines to qualify for the program.
The Northern Panhandle Home Consortium again has funding to help low-income residents who want to become first-time home buyers.
Melissa Thompson, community development specialist for the town of Wheeling, said the consortium has been informed that it will receive a grant of $ 305,207 from the US Department of Housing and Urban Development for fiscal year 2021.
Of this amount, $ 228,000 will be allocated to “Eligible affordable housing activities”, she said.
This includes the First-Time Home Buyers Program, which provides up to $ 10,000 down payment and closing cost assistance to those considered low to moderate income living in the north. by Panhandle.
In Ohio County, a family of two could have a combined income of $ 44,100 per year and qualify for the loan, while families of three or more could earn up to $ 49,600 to receive the loan. ‘help.
The cost of the house to buy cannot exceed $ 133,000.
The owner must occupy for five years and then the loan is canceled.
“This program has been very successful in the north of Panhandle”, Thompson said. “We saw very few foreclosures or defaults in all areas.”
Since 1998, 265 buyers have been helped in the town of Wheeling and 84 more in Ohio County, according to Thompson.
During that time, 1,006 homebuyers were helped across the North Panhandle, with $ 9 million distributed.
“It’s a good point of celebration – that we’ve helped over 1,000 homebuyers,” Thompson said. “It’s a big problem.”
Qualified individuals in Ohio County wishing to purchase their first home should contact Thompson at 304-234-3701.
Of the $ 305,207 received by the Northern Panhandle Home Consortium, 10% is reserved for administration, while 15% is to be allocated to a community housing development project.
The most recent of these consortium-funded community projects was carried out last year by the Greater Wheeling Coalition for the Homeless.