Photo by Craig Howell  State officials were in Weirton Tuesday to announce the launch of the Veterans’ Home Loan Mortgage Program on Sept. 12. Under the program, eligible veterans would receive assistance in purchasing their first home. Taking part in the presentation were, from left, Jon M. Rogers, of the West Virginia Housing Development Fund, state Sen. Ryan Weld, R-Brooke, and state Treasurer Riley Moore.   

WEIRTON — A new program set to launch later this month is designed to aid eligible veterans in West Virginia who are looking to purchase their first home. 

State Treasurer Riley Moore, state Sen. Ryan Weld, R-Brooke, and representatives of the West Virginia Housing Development Fund were in Weirton Tuesday afternoon to discuss the Veterans’ Home Loan Mortgage Program. 

The program was developed through the passage of Senate Bill 261 – the West Virginia Veterans’ Home Loan Mortgage Program Act of 2024 – passed by the West Virginia Legislature earlier this year, and sponsored by Weld. 

Weld explained the legislation was designed after a similar law enacted in Montana. 

“In legislation, sometimes, it’s OK to plagiarize from programs that have worked,” Weld said, adding owning a home is part of the American dream, and this program will provide help for veterans to reach that dream. 

Under the program, to be administered through the West Virginia Housing Development Fund, veterans of any branch of service who are first-time homebuyers could be eligible for a reduced-interest loan. 

It also allows home mortgage loans at least 1% lower than rates available in the marketplace or through other housing programs. 

Under the program, which officially launches Sept. 12, individuals receiving aid must be a West Virginia resident and qualified service member or veteran and a first-time homebuyer. They also must complete a WVHDF-approved homebuyer education program, have an ability to contribute at least $2,500 toward the purchase transaction and meet other credit requirements. 

There is a $350,000 purchase limit and no income limit. 

Moore noted the state already has established a fund to back up the program, with an infusion of $8 million. 

It is the latest program the state has initiated to assist those who have served in the military. 

“It really puts a finer point on how we view veterans in West Virginia,” Moore said, noting he feels some of the best employees in his office have a military background. “They are skilled. They are ready to go. They are the best of what our state has to offer.” 

Jon M. Rogers, senior division manager of single family lending from the West Virginia Housing Development Fund, noted the fund was established in 1969, providing low-interest loans for first-time homebuyers for more than 40 years. In July 2023, he said, the fund assisted 1,600 West Virginians in purchasing a home. 

“We’re looking to build on that success,” Rogers said. 

Additional information on the program, including eligible lenders, will be available online through the West Virginia Housing Development Fund at www.wvhdf.com.