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Do you need help with your West Virginia mortgage? Looking for a new mortgage in West Virginia? If you live in West Virginia and need help with your mortgage or need assistance to buy a new home, we have news for you.
Although West Virginia has suffered its fair share of hardship in the last three years, it is beginning to enjoy a modest recovery. The latest figures from the Bureau of Labor Statistics show a 1 percent drop in number of jobs in the construction industry from this time last year. An encouraging statistic when looking at the steep decline in the construction industry in previous years. The manufacturing, leisure and hospitality and information technology industries are all in positive figures, 1 percent, 4 percent and 4.1 percent respectively. Although far from being great news, these figures show a positive trend that points to better times for West Virginia.
For example, in the third quarter of 2010, West Virginia saw an increase of 3.1 percent in the sales of new single-family homes. On the other hand, the sale of existing homes dropped by 2.5 percent from the previous quarter. This mishmash of growth and decline creates an opportunity for homebuyers with the cash and credit scores to overcome stringent bank loan requirements.
To illustrate, prices for residential property are still low in West Virginia compared with the rest of the United States. The median single family home is priced at $129,370, while the median for the United States as a whole is $180,176.
So, if you are in the market for a new home, West Virginia may be the place to look at for a new home. You are unlikely to get more bang for your buck in a more beautiful setting. The West Virginia Housing Development Fund can provide a helping hand if you are looking for aid with your mortgage. This government sponsored fund provides assistance to first time buyers, reduction of federal income tax and an exciting new Secondary Market Program.
These programs are designed to stimulate the housing industry and help workers, who otherwise couldn’t afford it, find the house of their dreams.
So if you want to benefit from the West Virginia Mountaineer Mortgage Credit Certificate Program, the West Virginia Home Ownership Assistance Program or apply for a 3 percent downpayment mortgage with the West Virginia Secondary Market Program, read on. For a change, we have some good mortgage news for you.
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