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West Virginia Mortgages (WV)

Few places in the world are as beautiful as West Virginia.  Seemingly endless countryside, fantastic weather, amazingly interesting history, and some amazing natural wonders make it difficult not to want to live here.  Places like Blackwater Falls have been attracting tourists for years, and West Virginia’s rich history, reputation for friendliness, and convenient location have been drawing in residents by the truckload.  This might explain why homes are as expensive as they are currently.  West Virginia residents are strapped now more than ever by carrying the heavy burden of their monthly mortgage payments.  What many don’t realize is that there is a solution.  Refinancing could potentially provide West Virginia residents with the financial freedom that they need and deserve.

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Quick West Virginia Housing Facts:

  • Percent of homeowners in West Virginia: 75.2%
  • Percent of renters in West Virginia: 24.8%
  • Median annual income in West Virginia: $31,397
  • Average credit score in West Virginia: 679
  • Median West Virginia home value: $72,800

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When to Refinance in West Virginia

It is very important to remember that refinancing is supposed to save you money.  The whole process consists of obtaining a new, more affordably priced loan to cover your current home loan.  With that said, it is pertinent that homeowners decide to refinance at the proper time.  Only refinance when rates are lower than 1.5% to 2% less than what you are currently paying, or you may risk losing money.  Second be sure to check the terms associated with your current and future loans.  Read the fine print because many of these loans have hidden closing costs, penalties, and fees that could potentially cost you thousands of dollars.  It is also very important to calculate the point at which you will begin to start saving money.  Do this by adding up all of the expenses associated with obtaining the new loan, including what you are going to spend through the life of the loan, and compare it to what you would spend on your current loan.  In the even that you are losing money by refinancing, it would not be a good idea.  Finally, be sure that you research the company through whom you refinance.  There are many agencies that take advantage of unsuspecting, ignorant borrowers by charging outrageous fees and rates, so obtain your refinancing package from a company that has a good reputation.

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How much house can I afford in West Virginia

One of the biggest problems facing West Virginia’s homebuyers is figuring out how much house you can afford. We have some great mortgage calculators that can help you figure how much home will fit into your monthly budget. Don’t forget there are many other home options out there specifically for West Virginia’s residences. We work with local and national lenders to make sure that you get the best rate possible.


This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.