West Virginia Mortgage Rates

Check Current Mortgage Rates

WEST VIRGINIA CONFORMING 30 YEAR FIXED RATES

Today's Average: 3.95% What does this mean?

About Mortgage Rates in West Virginia

Finding a mortgage in West Virginia areas such as Huntington, Wheeling and Charleston can be a challenge even with many housing deals on the market. The state has over 800,000 housing units and over 75% are occupied by the owners. The low-cost of living makes West Virginia an affordable place to raise a family.

Mortgage 101 will help you find the lowest interest rate loan with the best possible features. You choose lenders depending based who is offering the lowest paid points at closing, the lowest down payments and lowest mortgage payments. Loans are available for first time buyers, seasoned buyers, second mortgages on existing homes as well as refinancing loans and equity loans. Check out what loans are available to you today.

Mortgage Refinancing in West Virginia

In some instances, refinancing your current mortgage loan can help you lower your mortgage payment. Borrowers can borrow against the equity built up in their home at a lower cost than they can from other sources. Like most mortgage interest, another benefit to mortgage refinancing is that if you pay off credit cards, the interest you pay will now be tax deductible.

The 5/5 & 5/1 Adjustable Rate Mortgage

This mortgage type offers a stable payment and interest rate for the first five years. In the sixth year the interest rates, and therefore the payments, are adjusted every five years for the 5/5 arm and every year for the 5/1 arm.

Fixed Rate Mortgages

This is your parent's mortgage loan. The mortgage interest rate will remain the same on these mortgages throughout the term of the mortgage for the original borrower.

Other Mortgage Terms

Mortgage Insurance - Money paid to insure the mortgage when the down payment is less than 20 percent.

Closing Costs - Expenses over and above the price of the property that are incurred by buyers and sellers when transferring ownership of a property. Closing costs normally include an origination fee property taxes charges for title insurance and escrow costs appraisal fees etc. Closing costs will vary according to the area country and the lenders used.