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2019 FHA Loan Limits in West Virginia

The limit for standard, single-family homes in almost all counties is $314,827. The exception is Jefferson County where the loan limit is $726,525.

So if you’re dreaming of homeownership in the Mountain State, a Federal Housing Administration (FHA) loan might be right for you.

West Virginia is a state of small cities. With a population of just 1.8 million, only 50,000 people live in the largest city, Charleston. But where West Virginians go big is in homeownership. Approximately 75.1% of housing units are owner-occupied.

Median home prices in West Virginia are modest compared to the nation. According to FHA data, about half of the state’s 55 counties come in below $100,000, and only one tops out above $200,000: Hampshire County, where the median price is 264,000. (Jefferson County, which is considered part of the Washington, D.C., metro area is a different story. Median prices there are $768,000.) The price of a typical home in the U.S. is $235,000, as estimated by the National Association of Realtors in late 2018.

West Virginians have been taking advantage of FHA loans in recent years but not at the rates of many other states. In 2015, according to an FHA report, 17.3% of purchase originations in West Virginia came from FHA loans, ranking the state 45th out of 52 (all 50 states, Puerto Rico and Washington, D.C., included) for statewide percentages of FHA loans. Nationwide, West Virginia accounted for 0.37% of FHA loans, per the FHA’s 2018 report.

West Virginia FHA loan limits by county

FHA Loan Limits in West Virginia
County Name One-Family Two-Family Three-Family Four-Family Median Sale Price
Barbour $314,827 $403,125 $487,250 $605,525 $65,000
Berkeley $314,827 $403,125 $487,250 $605,525 $185,000
Boone $314,827 $403,125 $487,250 $605,525 $129,000
Braxton $314,827 $403,125 $487,250 $605,525 $90,000
Brooke $314,827 $403,125 $487,250 $605,525 $94,000
Cabell $314,827 $403,125 $487,250 $605,525 $158,000
Calhoun $314,827 $403,125 $487,250 $605,525 $85,000
Clay $314,827 $403,125 $487,250 $605,525 $129,000
Doddridge $314,827 $403,125 $487,250 $605,525 $120,000
Fayette $314,827 $403,125 $487,250 $605,525 $104,000
Gilmer $314,827 $403,125 $487,250 $605,525 $90,000
Grant $314,827 $403,125 $487,250 $605,525 $139,000
Greenbrier $314,827 $403,125 $487,250 $605,525 $117,000
Hampshire $314,827 $403,125 $487,250 $605,525 $264,000
Hancock $314,827 $403,125 $487,250 $605,525 $94,000
Hardy $314,827 $403,125 $487,250 $605,525 $90,000
Harrison $314,827 $403,125 $487,250 $605,525 $120,000
Jackson $314,827 $403,125 $487,250 $605,525 $121,000
Jefferson $726,525 $930,300 $1,124,475 $1,397,400 $768,000
Kanawha $314,827 $403,125 $487,250 $605,525 $129,000
Lewis $314,827 $403,125 $487,250 $605,525 $99,000
Lincoln $314,827 $403,125 $487,250 $605,525 $158,000
Logan $314,827 $403,125 $487,250 $605,525 $91,000
Marion $314,827 $403,125 $487,250 $605,525 $100,000
Marshall $314,827 $403,125 $487,250 $605,525 $119,000
Mason $314,827 $403,125 $487,250 $605,525 $111,000
Mcdowell $314,827 $403,125 $487,250 $605,525 $36,000
Mercer $314,827 $403,125 $487,250 $605,525 $93,000
Mineral $314,827 $403,125 $487,250 $605,525 $96,000
Mingo $314,827 $403,125 $487,250 $605,525 $75,000
Monongalia $314,827 $403,125 $487,250 $605,525 $198,000
Monroe $314,827 $403,125 $487,250 $605,525 $109,000
Morgan $314,827 $403,125 $487,250 $605,525 $148,000
Nicholas $314,827 $403,125 $487,250 $605,525 $55,000
Ohio $314,827 $403,125 $487,250 $605,525 $119,000
Pendleton $314,827 $403,125 $487,250 $605,525 $113,000
Pleasants $314,827 $403,125 $487,250 $605,525 $111,000
Pocahontas $314,827 $403,125 $487,250 $605,525 $120,000
Preston $314,827 $403,125 $487,250 $605,525 $198,000
Putnam $314,827 $403,125 $487,250 $605,525 $158,000
Raleigh $314,827 $403,125 $487,250 $605,525 $104,000
Randolph $314,827 $403,125 $487,250 $605,525 $106,000
Ritchie $314,827 $403,125 $487,250 $605,525 $86,000
Roane $314,827 $403,125 $487,250 $605,525 $94,000
Summers $314,827 $403,125 $487,250 $605,525 $95,000
Taylor $314,827 $403,125 $487,250 $605,525 $120,000
Tucker $314,827 $403,125 $487,250 $605,525 $85,000
Tyler $314,827 $403,125 $487,250 $605,525 $94,000
Upshur $314,827 $403,125 $487,250 $605,525 $119,000
Wayne $314,827 $403,125 $487,250 $605,525 $158,000
Webster $314,827 $403,125 $487,250 $605,525 $71,000
Wetzel $314,827 $403,125 $487,250 $605,525 $92,000
Wirt $314,827 $403,125 $487,250 $605,525 $99,000
Wood $314,827 $403,125 $487,250 $605,525 $99,000
Wyoming $314,827 $403,125 $487,250 $605,525 $71,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets FHA loan limits based on the conforming loan limit — or how large of a mortgageFannie Mae and Freddie Mac will purchase. In 2019, that limit is $484,350.

The FHA “floor” is the largest mortgage the agency will insure in most of the country and is set at $314,827 for 2019. The FHA “ceiling” applies to high-cost areas and is set at 150% of the conforming loan limit, or $726,525. Outside of a few exceptions, this is the highest mortgage the agency will insure for a single-family home. In other areas, loan limits fall somewhere between the FHA floor and ceiling.

Here are the 2019 standard FHA limits for all property types:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

Here are the 2019 standard FHA limits for high-cost areas:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Do you qualify for an FHA loan in West Virginia?

FHA loans can be very attractive if you’re shopping for a home and have a less-than-ideal credit score and/or not much cash for a down payment.

You’ll need a minimum credit score of 500 to qualify for an FHA loan. If your score is below 580, you’ll also need a down payment of at least 10%. The lowest available down payment for an FHA loan is 3.5%, but you must have a credit score of at least 580 to qualify.

You will also want to consider your debt-to-income ratio. A lender will look at how much debt you have compared to your monthly income to make sure you can afford the mortgage payments. The current HUD debt-to-income ratios for most FHA loans are 31% for housing-related debt and 43% for total debt.

To learn more about qualifying for an FHA loan and get other information about the process, visit LendingTree’s main FHA page.

 

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