Current through Register Vol. XLI, No. 50, December 13, 2024
Section 88-4-2 - Definitions2.1. "Act" means the West Virginia Veterans' Home Loan Mortgage Program of 2024, West Virginia Code §§ 31-18F-1, et seq.2.2. "First time home buyer" means an individual who has not previously owned an interest in real property occupied by the individual as their primary residence at any time during the three-year period ending on the date the program loan closed. The targeted area exception for the West Virginia Housing Development Fund's Homeownership Program does not apply to the Program.2.3. "Procedural Guide" means the West Virginia Veterans' Home Loan Program Procedural Guide, attached hereto as Exhibit A and incorporated herein by reference.2.4. "Property" means the residential dwelling purchased or to be purchased with a program loan that meets Program requirements.2.5. "Program loan" means a mortgage loan made pursuant to the Act and this rule.