04/13/2024
From the West Virginia Housing Development Fund
“Homeownership is affordable in West Virginia! This research shows West Virginians need to earn $55,000 annually to buy a new home--the lowest in the nation!
Our mortgage programs make homeownership more attainable for qualified West Virginians, even those who earn far less than $55,000. Down payment assistance through our Low Down Home Loan means more money in your pocket at the closing table, and competitive interest rates help you save money on each and every mortgage payment over the life of your loan. That's a pretty sweet deal!
Call 800-933-8511 or visit www.wvhdf.com to find out if you qualify!”
Let’s get shopping!!
Homebuyers in nearly half of the country need to earn at least six figures to be able to purchase a home.
Nationally, the typical household would need to earn $99,000 to buy a median-priced home of $415,500 in February. This also accounts for property taxes and insurance costs, and assumes a 10% down payment. However, the typical household income in America was only about $75,000 in 2022, according to the U.S. Census Bureau.
“For many people who want to buy a house, it’s just not feasible right now,” says senior economic research analyst Hannah Jones. “Even for households that can afford a home, the monthly cost is going to be much higher than it was two, three, four years ago.”
Full story: https://rltor.cm/a2cpp7
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