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W.Va. housing agency offers mortgage loan program

CHARLESTON, W.Va. -- The state Housing Development Fund is offering a mortgage loan program for homeowners.The $10 million program is available to first-time homebuyers as well as homeowners who want to find a home of greater value. Income and home price limits for the program vary by county.
Housing fund spokesman George Gannon tells the Charleston Daily Mail that the principal and interest paid by mortgage recipients will be put back into the program.Gannon says $6 million for the program came from a construction loan that West Virginia University Health Sciences paid off. The other $4 million came from a fund used to insure the housing fund's bonds.
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