West Virginia
Prepare the paperwork you need for a home loan with these fully editable West Virginia Mortgage Forms.
The West Virginia Safe Mortgage Licensing Act (WV Code Chapter 31, Article 17A) sets reasonable standards for licensing and regulation of the business practices of mortgage loan originators.
The Division of Financial Institutions (DFI) oversees the financial services industry within the State, which includes state chartered banks and credit unions, mortgage lenders, brokers and loan originators.
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West Virginia Contract for Deed
If you are selling property in West Virginia to a buyer who can't qualify for a mortgage, you can carry all or part of the purchase price with this Contract for Deed.
- A contract for deed (or purchase money mortgage) allows a buyer to pay over time, with the seller carrying the balance until the last payment is made. The seller effectively becomes the mortgage lender for the balance of the purchase money.
- Title will transfer to the buyer once payment in full of all principal and interest has been received by the seller.
- The seller has the right to take back the property if the buyer defaults in payment.
- At the seller's option, the balance can be repaid by monthly payments with or without interest until paid, or monthly payments with interest for a fixed number of payments with a balloon payment at the end to pay out the balance.
- Available in MS Word format.
- Intended to be used only in the State of West Virginia.
$17.99
West Virginia Deed of Trust
Transfer title to a West Virginia property from a seller to a trustee with this West Virginia Deed of Trust.
- A Deed of Trust is often used in place of a mortgage when purchasing real estate. It cannot be used for agricultural land.
- Under the Deed of Trust, title is conveyed by the seller to a trustee instead of to the purchaser.
- The trustee holds the title as security to ensure the purchaser's performance of its obligations (including payment of the purchase price, maintenance and upkeep of the property, payment of taxes, etc).
- If the borrower defaults in payment, the balance becomes due and payable and the trustee may sell the property.
- The Deed of Trust contains uniform covenants regarding payments, taxes and insurance, care and maintenance of the property, protection of the lender's security, and other standard clauses.
- The borrower waives all right of homestead exemption in the property.
$17.99
West Virginia Fixed Rate Note
Write up a fixed rate Promissory Note for a mortgage loan in West Virginia with this affordable template form.
- The loan is secured by a Deed of Trust, under which the title deed is transferred to a trustee until the loan is repaid.
- The borrower will make monthly payments of principal and accrued interest until the loan is repaid.
- If there is any amount still owing on the maturity date, the borrower agrees to pay the full balance at that time.
- If the borrower fails to make payments as required, the note holder can demand repayment of the entire amount of principal and accrued interest outstanding.
- The borrower agrees to pay the note holder's costs, including reasonable attorneys' fees, incurred in enforcing the Note.
- This template is a plain language legal form, easy to use and understand. Available in MS Word format.
- Intended for use only in the State of West Virginia.
$6.29
