FHA Loan Limits in West Virginia
Rebecca, a freelance editor for LendingTree, is a marketing and content specialist who has worked in the personal finance space since 2017. A graduate of Millersville University of Pennsylvania, she received a degree in English with a minor in journalism. As a Taurus, Rebecca struggles with budgeting and tends to live by a “treat yourself” mindset. She’s working on it.
If you’re looking to buy a home, a loan backed by the Federal Housing Administration (FHA) can be a great option — especially if you don’t have the greatest credit score or access to a huge down payment. However, there are limits for how much you can borrow with an FHA loan.
In most counties in West Virginia, the FHA loan limit is $472,030 for a single-family home, though it soars up to $1,089,300 in Jefferson County, located outside of D.C.
West Virginia FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sale price |
|---|---|---|---|---|---|
| BARBOUR | $472,030 | $604,400 | $730,525 | $907,900 | $85,000 |
| BERKELEY | $472,030 | $604,400 | $730,525 | $907,900 | $258,000 |
| BOONE | $472,030 | $604,400 | $730,525 | $907,900 | $153,000 |
| BRAXTON | $472,030 | $604,400 | $730,525 | $907,900 | $117,000 |
| BROOKE | $472,030 | $604,400 | $730,525 | $907,900 | $131,000 |
| CABELL | $472,030 | $604,400 | $730,525 | $907,900 | $186,000 |
| CALHOUN | $472,030 | $604,400 | $730,525 | $907,900 | $126,000 |
| CLAY | $472,030 | $604,400 | $730,525 | $907,900 | $153,000 |
| DODDRIDGE | $472,030 | $604,400 | $730,525 | $907,900 | $145,000 |
| FAYETTE | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
| GILMER | $472,030 | $604,400 | $730,525 | $907,900 | $73,000 |
| GRANT | $472,030 | $604,400 | $730,525 | $907,900 | $176,000 |
| GREENBRIER | $472,030 | $604,400 | $730,525 | $907,900 | $153,000 |
| HAMPSHIRE | $472,030 | $604,400 | $730,525 | $907,900 | $350,000 |
| HANCOCK | $472,030 | $604,400 | $730,525 | $907,900 | $131,000 |
| HARDY | $472,030 | $604,400 | $730,525 | $907,900 | $145,000 |
| HARRISON | $472,030 | $604,400 | $730,525 | $907,900 | $145,000 |
| JACKSON | $472,030 | $604,400 | $730,525 | $907,900 | $153,000 |
| JEFFERSON | $1,089,300 | $1,394,775 | $1,685,850 | $2,095,200 | $1,053,000 |
| KANAWHA | $472,030 | $604,400 | $730,525 | $907,900 | $153,000 |
| LEWIS | $472,030 | $604,400 | $730,525 | $907,900 | $103,000 |
| LINCOLN | $472,030 | $604,400 | $730,525 | $907,900 | $153,000 |
| LOGAN | $472,030 | $604,400 | $730,525 | $907,900 | $122,000 |
| MARION | $472,030 | $604,400 | $730,525 | $907,900 | $130,000 |
| MARSHALL | $472,030 | $604,400 | $730,525 | $907,900 | $159,000 |
| MASON | $472,030 | $604,400 | $730,525 | $907,900 | $125,000 |
| MCDOWELL | $472,030 | $604,400 | $730,525 | $907,900 | $50,000 |
| MERCER | $472,030 | $604,400 | $730,525 | $907,900 | $126,000 |
| MINERAL | $472,030 | $604,400 | $730,525 | $907,900 | $151,000 |
| MINGO | $472,030 | $604,400 | $730,525 | $907,900 | $97,000 |
| MONONGALIA | $472,030 | $604,400 | $730,525 | $907,900 | $241,000 |
| MONROE | $472,030 | $604,400 | $730,525 | $907,900 | $75,000 |
| MORGAN | $472,030 | $604,400 | $730,525 | $907,900 | $258,000 |
| NICHOLAS | $472,030 | $604,400 | $730,525 | $907,900 | $110,000 |
| OHIO | $472,030 | $604,400 | $730,525 | $907,900 | $159,000 |
| PENDLETON | $472,030 | $604,400 | $730,525 | $907,900 | $162,000 |
| PLEASANTS | $472,030 | $604,400 | $730,525 | $907,900 | $132,000 |
| POCAHONTAS | $472,030 | $604,400 | $730,525 | $907,900 | $122,000 |
| PRESTON | $472,030 | $604,400 | $730,525 | $907,900 | $241,000 |
| PUTNAM | $472,030 | $604,400 | $730,525 | $907,900 | $186,000 |
| RALEIGH | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
| RANDOLPH | $472,030 | $604,400 | $730,525 | $907,900 | $146,000 |
| RITCHIE | $472,030 | $604,400 | $730,525 | $907,900 | $79,000 |
| ROANE | $472,030 | $604,400 | $730,525 | $907,900 | $83,000 |
| SUMMERS | $472,030 | $604,400 | $730,525 | $907,900 | $120,000 |
| TAYLOR | $472,030 | $604,400 | $730,525 | $907,900 | $145,000 |
| TUCKER | $472,030 | $604,400 | $730,525 | $907,900 | $169,000 |
| TYLER | $472,030 | $604,400 | $730,525 | $907,900 | $78,000 |
| UPSHUR | $472,030 | $604,400 | $730,525 | $907,900 | $148,000 |
| WAYNE | $472,030 | $604,400 | $730,525 | $907,900 | $186,000 |
| WEBSTER | $472,030 | $604,400 | $730,525 | $907,900 | $93,000 |
| WETZEL | $472,030 | $604,400 | $730,525 | $907,900 | $94,000 |
| WIRT | $472,030 | $604,400 | $730,525 | $907,900 | $128,000 |
| WOOD | $472,030 | $604,400 | $730,525 | $907,900 | $128,000 |
| WYOMING | $472,030 | $604,400 | $730,525 | $907,900 | $35,000 |
How are FHA loan limits determined?
The U.S. Department of Housing and Urban Development (HUD) calculates FHA loan limits each year based on conforming loan limits set by the Federal Housing Finance Agency (FHFA).
The lowest national FHA loan limit, called the “floor,” is calculated as 65% of the conforming loan limit. The highest FHA loan limit, known as the “ceiling,” is 150% of the conforming loan limit and applies to high-cost areas. The FHA floor is $472,030 and the ceiling is $1,089,300.
The FHA limits for each county in the country are revised annually based on median home prices from the previous year. In 2022, for example, home prices nationwide rose by about 6%, the conforming loan limit rose by 12%, and FHA loan limits increased as well.
How to qualify for an FHA loan in West Virginia
With lower credit score and down payment requirements, FHA loans can allow people who might not otherwise qualify to become homeowners — but they’ll still need to meet the minimum requirements to apply.
Here are the main requirements you’ll need to get an FHA loan in West Virginia:
A down payment of at least 3.5%: If your credit score is at least 580, you may be able to qualify for a down payment of just 3.5%.
A credit score of at least 500: You can qualify for an FHA loan with a credit score as low as 500, far lower than many other mortgage programs. However, you’ll need a higher down payment of at least 10%.
A debt-to-income ratio of no more than 43%: Your DTI ratio represents the portion of your monthly income that goes towards debt payments. Lenders will typically look for a DTI of 43% or less to be eligible for an FHA loan.
An FHA home appraisal: Your future home must undergo an approved FHA appraisal to determine whether it meets minimum property requirements for FHA loans.
FHA mortgage insurance: One expense that comes with FHA loans is mortgage insurance, which you’re required to pay for in two forms. You’ll have to pay an upfront 1.75% fee (which can be rolled into your loan) and an annual fee of 0.15% to 0.75%, which is added to the monthly payment.
Occupancy: The home you buy with an FHA loan must be your primary residence for at least 12 months after purchase.
Buying a multifamily property with an FHA loan
FHA loans aren’t just for buying a single-family home. You’re also allowed to buy a multifamily property with up to four units. And, as long as you live in one of the units for the required 12-month period, you can still potentially put just 3.5% down.
FHA lenders in West Virginia
| Lender name | LT rating | Minimum FHA credit score |
|---|---|---|
| Bank of America | 5 stars | Not disclosed |
| Fairway Independent Mortgage | 3 stars | 580 |
| TD Bank | 4 stars | 620 |
| Mr. Cooper | 4.5 stars | Not disclosed |