West Virginia is one of the most geographically diverse and beautiful areas in the country, a fact that John Denver sums up nicely in the first line of his famous ballad to the Mountain State:
“Almost Heaven, West Virginia, Blue Ridge Mountains, Shenandoah River”
Plenty of people share this sentiment, including many first-time homebuyers looking to follow country roads to homes of their own. That said, the process of buying a house can be an overwhelming and confusing one, especially when it comes to assessing your financing options. This is where West Virginia FHA loans can help.
With West Virginia’s median home cost being nearly $124,000 below the national average, it is a great place to buy a home. Picking a home loan option is difficult, but many West Virginians decided the FHA loan program was right for them. As of April 2019, the total value of FHA loans in West Virginia was nearly $37 million!
Maximum loan limits are adjusted yearly and typically depend on which county you choose to reside in. In most of West Virginia, the baseline limit of $472,030 applies, but, in Jefferson the loan limit balloons to $1,089,300. The purpose of loan limits by area is to ensure the FHA loan program accounts for a higher cost of real estate where needed. Use the table below to see the full list of West Virginia FHA loan limits in 2023.
|County||FHA Loan Limit|
|All other areas||$472,030|
You may be eligible for an FHA loan, if you:
Mortgage Insurance Premium Requirements
Buyers must be able to provide the following information and documents as requested by lenders:
Note: Facts and figures sourced from the latest statistics available at the time of this writing including data from the United States Department of Labor, United States Census Bureau and the United States Department of Housing and Urban Development.