West Virginia Mortgage and Refinance Rates
Current mortgage rates in West Virginia
As of Sunday, June 08, 2025, current mortgage interest rates in West Virginia are 6.70% for a 30-year fixed mortgage and 6.05% for a 15-year fixed mortgage. Similar to borrowing costs nationwide, West Virginia mortgage rates have settled in the 6 to 7 percent range in 2025. It's unclear how low rates could go — or how fast they could drop — as inflation concerns have kept the Federal Reserve from cutting rates further so far this year.
Refinance rates in West Virginia
If you got a mortgage in West Virginia in the last two or three years, refinancing now might save you money on your monthly payments. Likewise, if you’ve owned your home for a long time, you might be sitting on a sizable amount of equity now. With a cash-out refinance, you can leverage that equity to remodel your home, pay down debt or cover any other expense.
National mortgage rates by loan type
| Product | Interest Rate | APR |
|---|---|---|
| 30-Year Fixed Rate | 6.87% | 6.93% |
| 15-Year Fixed Rate | 6.09% | 6.18% |
| 30-Year Fixed Rate FHA | 6.82% | 6.88% |
| 30-Year Fixed Rate VA | 6.87% | 6.91% |
| 30-Year Fixed Rate Jumbo | 6.89% | 6.93% |
Rates as of Sunday, June 08, 2025 at 6:30 AM
West Virginia housing market and mortgage rate statistics and trends
If you're thinking of moving to a new home in West Virginia, here are some housing stats about the state:
- Median sales price, Feb. 2025: $250,000
- Median down payment, Feb. 2025: $20,000
- Most expensive counties for housing: Berkeley, Hampshire, Jefferson, Monogalia, Morgan
- Least expensive counties for housing: Boone, Ritchie, Wyoming
Mortgage options in West Virginia
If you’re looking to get a mortgage in West Virginia, consider these loan options:
- West Virginia conventional mortgages: To qualify for a conventional loan, you’ll need a credit score of at least 620 and a debt-to-income (DTI) ratio of no more than 45 percent. If you make a down payment of less than 20 percent, you’ll need to pay for private mortgage insurance (PMI), as well.
- West Virginia FHA loans: If your credit history disqualifies you from a conventional loan, you might be eligible for a loan insured by the Federal Housing Administration (FHA). For this type of mortgage, you’ll need a credit score of at least 580 with a 3.5 percent down payment. As with a conventional loan, if you put down less than 20 percent on an FHA loan, you’ll be on the hook for mortgage insurance.
- West Virginia VA loans: If you’re an eligible veteran or active-duty member of the military, you might qualify for a mortgage backed by the Department of Veterans Affairs (VA). A VA loan doesn’t require a down payment or mortgage insurance, but you do need to pay a funding fee.
- West Virginia USDA loans: Much of West Virginia qualifies as “rural” living, which means you may be able to consider a USDA loan, backed by the United States Department of Agriculture. These loans are geared toward low- and moderate-income borrowers buying in designated rural areas. They do not require a down payment.
First-time homebuyer programs in West Virginia
The West Virginia Housing Development Fund works with over 60 banks and lenders to help make owning a home a reality for buyers in the state.
- Home Ownership Program: If you’re an eligible first-time homebuyer in West Virginia, the state’s Housing Development Fund could help you obtain a lower-cost, 30-year fixed-rate mortgage. You’ll need to stay within purchase price limits and annual income limits to qualify.
- Low Down Home Loan: If your loan-to-value ratio is at or above 80 percent, you may be able to qualify for up to $8,000 to help cover down payment and closing costs. The 15-year loan has a 2 percent interest rate and must be used in conjunction with a Home Ownership Loan.
How to find the best mortgage rate in West Virginia for you
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Step 1: Strengthen your credit score
Long before you start looking for a mortgage lender and applying for a loan, give your finances a checkup, and improve your standing if needed. This means pulling your credit score and credit reports. You’re entitled to a free credit report from each of the three main reporting bureaus (Experian, Equifax and TransUnion), which you can get through AnnualCreditReport.com.
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Step 2: Determine your budget
Get a handle on how much house you can afford. One rule of thumb many buyers use to figure out their price range is the 28/36 rule. Keep in mind that a mortgage lender could qualify you for a loan over your budget, but that would leave no room for unexpected expenses.
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Step 3: Know your mortgage options
There are different types of mortgages, including conventional loans with as little as 3 percent down and government-backed loans. If you’re in the market for a jumbo loan, check Hawaii’s county-by-county loan limits.
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Step 4: Compare rates and terms from multiple lenders
Don’t settle on the first lender you talk to. Rate-shop with different lenders — banks, credit unions, online lenders and local independents — to ensure you’re getting the best deal on rates, fees and terms.
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Step 5: Get preapproved for a mortgage
Get a mortgage preapproval with three or four different lenders. This’ll help you understand exactly what loan amount you’d qualify for if you were to apply, and prepare you to make offers on homes.
Additional West Virginia mortgage resources
Meet our Bankrate experts
Written by: Jeff Ostrowski, Writer & Housing Market Analyst
I cover mortgages and the housing market. Before joining Bankrate in 2020, I spent more than 20 years writing about real estate and the economy for the Palm Beach Post and the South Florida Business Journal. I’ve had a front-row seat for two housing booms and a housing bust. I’ve twice won gold awards from the National Association of Real Estate Editors, and since 2017 I’ve served on the nonprofit’s board of directors.
Edited by: Laurie Richards, Editor, Home Lending
I’ve spent five years in writing and editing roles, and I now focus on mortgage, mortgage relief, homebuying and mortgage refinancing topics. I’m most interested in providing resources for aspiring first-time homeowners to help demystify the homebuying process. In 2021, I earned a Poynter ACES Certificate in Editing. I have an MA in English.