Housing Crucial to Workforce and
Economic Development
Access to stable and affordable housing is a critical , but often overlooked , component of workforce and economic development in West Virginia . Housing plays a crucial role in attracting and retaining a qualified workforce that drives economic growth across the state .
At the West Virginia Housing Development Fund , affordable housing is our mission . We manage several programs that help ensure all may reap the benefits that safe , stable and affordable housing offers .
Employees who have access to housing they can afford are more likely to stay in the area to build their career , which in turn drives economic growth and stability . Affordable housing programs reduce the cost of living , making it easier for individuals and families to live and work in West Virginia .
The Fund manages several programs to make this possible . Our Low-Income Housing Tax Credit Program offers federal incentives to housing developers who build multifamily housing for lower income households . The HOME Investment Partnerships Program provides funding to smaller-scale developers , nonprofit agencies and other qualified organizations to construct or rehabilitate affordable housing , while the National Housing Trust Fund works to develop affordable housing for extremely low-income households .
Altogether , these programs have made a significant impact on the state ’ s economy . Each year , we invest millions of dollars in affordable housing through public and private investment , resulting in job creation and generating millions of dollars in economic activity . This investment demonstrates the critical role of affordable housing in the state ’ s overall economic well-being .
For more than 40 years , the Fund has helped first-time buyers achieve the dream of homeownership through our mortgage programs . The Homeownership Program is geared toward borrowers purchasing their first home in West Virginia , or their first home in specific counties , and generally offers our lowest interest rates . The Movin ’ Up Program is aimed at moderate-income borrowers and does not have a first-time buyer requirement . Borrowers also can get help with their down payment and closing costs through our Low Down Home Loan . More details about each program are available on our website , www . wvhdf . com .
The West Virginia Housing Development Fund has worked for 55 years to increase the supply of affordable housing for all of West Virginia . Thanks in part to this work , West Virginia enjoys the highest rate of homeownership in the country and our renter population can access homes they can afford . We are proud to play a key role in providing affordable housing options that attract and retain a skilled workforce that drives West Virginia ’ s economic growth .
( 800 ) 933- 9843 | wvhdf . com | 5710 MacCorkle Ave . SE , Charleston , WV
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