West Virginia Mortgage Calculator

Calculate your monthly mortgage payment in West Virginia. Average home price: $130,000 · Property tax rate: 0.57% · Median household income: $48,037.

Calculate Your West Virginia Mortgage Payment

Home Price ($)

Down Payment ($)

Interest Rate (%)

Loan Term (Years)

Property Tax Rate (%)

Annual Insurance ($)

HOA Monthly ($)

Loan Type

West Virginia Housing Market Overview

$130,000

Avg Home Price

0.57%

Property Tax Rate

$1,200

Annual Insurance

6.9%

Avg Mortgage Rate

The average home price in West Virginia is $130,000, with a property tax rate of 0.57%. With 20% down at 6.9%, your estimated monthly payment would be approximately $847/month including principal, interest, taxes, and insurance (PITI).

West Virginia's median household income is $48,037, making the average home roughly 2.7x the median annual income. Financial advisors generally recommend a home price no more than 3-4x your annual income.

How Mortgage Payments Work in West Virginia

Your monthly mortgage payment in West Virginia consists of four components (PITI):

Principal: The portion that reduces your loan balance. Starts small and grows over time.
Interest: The cost of borrowing. At 6.9%, you'll pay significant interest in the early years.
Taxes: West Virginia's property tax rate of 0.57% means approximately $62/month on the average home.
Insurance: Homeowners insurance in West Virginia averages $1,200/year ($100/month).

If your down payment is less than 20%, you'll also pay Private Mortgage Insurance (PMI), typically 0.5-1% of the loan annually. FHA loans require mortgage insurance for the life of the loan.

Tips for West Virginia Home Buyers

Get pre-approved: Know exactly how much you can afford before shopping in West Virginia.
Compare rates: Even a 0.25% rate difference saves thousands over 30 years on a $130,000 home.
Consider property taxes: West Virginia's 0.57% rate can vary significantly by county — research your target area.
Shop insurance: West Virginia homeowners insurance averages $1,200/year, but rates vary. Get 3-5 quotes.
Budget for closing costs: Expect 2-5% of the purchase price ($2,600-$6,500) in closing costs.
Build an emergency fund: Set aside 3-6 months of mortgage payments ($2,540-$5,080) for emergencies.

Explore Other States

Frequently Asked Questions

What is the average mortgage payment in West Virginia?

Based on the average home price of $130,000 with 20% down at 6.9%, the typical monthly payment in West Virginia is approximately $847, including principal, interest, property taxes (0.57%), and homeowners insurance ($1,200/year).

What is the property tax rate in West Virginia?

West Virginia's effective property tax rate is approximately 0.57%. On a $130,000 home, that's about $741/year or $62/month. Property tax rates can vary by county within West Virginia.

How much do I need for a down payment on a home in West Virginia?

For a conventional loan, 20% down on the average West Virginia home ($130,000) would be $26,000. FHA loans require as little as 3.5% ($4,550), and VA loans offer 0% down for eligible veterans. Lower down payments mean higher monthly payments and PMI.

What credit score do I need for a mortgage in West Virginia?

Conventional loans typically require 620+, FHA loans 580+ (for 3.5% down) or 500+ (for 10% down), and VA loans have no minimum but lenders typically prefer 620+. Higher scores get better rates — a 760+ score in West Virginia could save you 0.5-1% on your rate.

Should I get a 15-year or 30-year mortgage in West Virginia?

A 30-year mortgage offers lower monthly payments but more total interest. A 15-year mortgage has higher payments but saves significantly on interest. On a $104,000 loan at 6.9%, you'd save approximately $53,820 in total interest with a 15-year term.

How much house can I afford in West Virginia?

With West Virginia's median household income of $48,037, following the 28% rule (housing should be ≤28% of gross income), you could afford approximately $1,121/month for housing. That supports a home price of roughly $168,130-$192,148 depending on rates, taxes, and insurance.