WV SB208

Creates the Mountain Homes Fund to provide loan guarantees for residential construction projects consisting of six or more units with a completed value of at least $800,000 in West Virginia

Authorizes the West Virginia Economic Development Authority to guarantee up to $400,000 of an applicant's required cash reserve for construction loans, with an annual cap of $10 million for all projects combined

Requires applicants to be licensed in West Virginia, current on state taxes, demonstrate creditworthiness, and show the project will create employment opportunities and support economic development in the area

Loan guarantee agreements are limited to five years or project completion, whichever is shorter, and the Authority may place liens on real estate if applicants default

Prohibits fund use for timeshares, industrial operations, warehouses, airports, business activities, or mobile homes; the program expires January 1, 2036, though existing agreements remain valid