Beckley FHA Loan Rates, Closing Costs & Stats

BECKLEY, WV

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Beckley's 39 lenders originated 262 FHA loans during 2024. The total origination value was $42,910,000, with an average FHA loan value of $163,779.

    Beckley FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Beckley averaged 6.54% for the week of 2025-07-11, compared to the national average (all FHA variants) of 6.523% for the same period.

    Beckley's average FHA mortgage closing costs are $6,385.

    The average rate for the prior week (2025-07-04) was 6.58% and one month ago for the week of 2025-06-06, the average rate was 6.71%.

    The average rate one year ago was 6.94%.

    For refis of the same type during the week of 2025-07-11, the average rate was 7.07%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Beckley FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Beckley level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    MOVEMENT MORTGAGE, LLC 54 6.58% $8,085
    QUICKEN LOANS, LLC 47 6.53% $8,264
    The Huntington National Bank 39 6.53% $6,497
    LOANDEPOT.COM, LLC 14 6.31% $8,735
    Truist 11 6.26% $7,814
    T2 FINANCIAL LLC 7 6.98% $7,519
    UNITED WHOLESALE MORTGAGE, LLC 6 6.58% $9,634
    BROKER SOLUTIONS, INC. 5 7.65% $7,731
    Alcova Mortgage LLC 4 6.90% $3,246
    U.S. Bank 4 6.56% $7,755
    Atlantic Union Bank 3 6.96% $9,625
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.71% $6,220
    Gateway First Bank 3 7.08% $6,493
    United Bank 2 6.88% $5,789
    ZILLOW HOME LOANS, LLC 2 6.69% $10,206
    JPMorgan Chase Bank 2 7.31% $3,132
    Blue Ridge Bank 2 6.38% $5,938
    NEWREZ LLC 2 7.00% $10,833
    FREEDOM MORTGAGE CORPORATION 2 6.94% $6,731
    CROSSCOUNTRY MORTGAGE, LLC 2 6.75% $8,796
    STOCKTON MORTGAGE CORPORATION 1 7.25% $6,805
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.50% $11,660
    SUN WEST MORTGAGE COMPANY, INC. 1 7.75% $6,544
    Barrington Bank & Trust Company, N.A. 1 6.75% $7,744
    THE MORTGAGE FIRM, INC. 1 6.63% $6,144
    TOWNE MORTGAGE COMPANY 1 5.50% $10,714
    AMERISAVE MORTGAGE CORPORATION 1 6.13% $9,843
    WesBanco 1 5.64% $5,670
    Equity Prime Mortgage LLC 1 7.50% $11,070
    ENVOY MORTGAGE, LTD 1 6.63% $17,794
    FIRST COLONY MORTGAGE CORPORATION 1 6.63% $4,604
    Flagstar Bank, FSB 1 5.48% $6,873
    GUARANTEED RATE, INC. 1 6.25% $7,146
    HOMESIDE FINANCIAL, LLC 1 6.75% $9,299
    LIBERTY HOME MORTGAGE CORPORATION 1 7.13% $2,973
    Carrington Mortgage Services, LLC 1 7.63% $17,053
    NBKC BANK 1 6.13% $5,566
    CARDINAL FINANCIAL 1 6.75% $8,169
    ROYAL UNITED MORTGAGE LLC 1 6.13% $33,092

    The top Beckley FHA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 54 FHA loans originated. Their average total fees are $8,085, which is $179 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Beckley FHA lenders (with over 10 loans originated) are The Huntington National Bank ($6,497), Truist ($7,814), MOVEMENT MORTGAGE, LLC ($8,085), QUICKEN LOANS, LLC ($8,264) and LOANDEPOT.COM, LLC ($8,735).

    The lowest rate Beckley FHA lenders (with over 10 loans originated) are Truist (6.26%), LOANDEPOT.COM, LLC (6.31%), QUICKEN LOANS, LLC (6.53%), The Huntington National Bank (6.53%) and MOVEMENT MORTGAGE, LLC (6.58%).

    Beckley FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BECKLEY, WV FAYETTE 2022 $420,680 $538,650 $651,050 $809,150
    BECKLEY, WV RALEIGH 2022 $420,680 $538,650 $651,050 $809,150
    BECKLEY, WV FAYETTE 2023 $472,030 $604,400 $730,525 $907,900
    BECKLEY, WV RALEIGH 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Beckley (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $120,000 (-7.7%) $166,254 (-5.3%) 0.00 547
    2018-02-01 $119,950 (-9.3%) $163,997 (-6.9%) 0.00 536
    2018-03-01 $120,000 (-13.7%) $168,113 (-4.9%) 0.00 520
    2018-04-01 $127,725 (-8.1%) $177,451 (-0.7%) 0.00 499
    2018-05-01 $131,200 (-5.9%) $181,349 (1.7%) 0.00 513
    2018-06-01 $129,950 (-7.1%) $183,342 (-0.2%) 0.00 569
    2018-07-01 $129,900 (-6.6%) $179,015 (0.0%) 0.00 595
    2018-08-01 $129,800 (-5.2%) $178,108 (-0.2%) 0.00 613
    2018-09-01 $129,000 (-4.4%) $177,210 (-0.1%) 0.00 618
    2018-10-01 $125,498 (-5.8%) $180,225 (1.4%) 0.00 582
    2018-11-01 $120,625 (-6.5%) $178,998 (4.0%) 0.00 530
    2018-12-01 $125,000 (0.1%) $175,752 (4.6%) 0.00 487
    2019-01-01 $122,500 (2.1%) $175,039 (5.3%) 0.00 442
    2019-02-01 $129,450 (7.9%) $182,029 (11.0%) 0.00 427
    2019-03-01 $134,100 (11.8%) $187,454 (11.5%) 0.00 426
    2019-04-01 $138,650 (8.6%) $192,610 (8.5%) 0.00 428
    2019-05-01 $139,700 (6.5%) $200,167 (10.4%) 0.00 458
    2019-06-01 $139,900 (7.7%) $202,298 (10.3%) 0.00 494
    2019-07-01 $139,900 (7.7%) $205,281 (14.7%) 0.00 488
    2019-08-01 $135,327 (4.3%) $197,329 (10.8%) 0.00 502
    2019-09-01 $128,393 (-0.5%) $185,961 (4.9%) 0.00 525
    2019-10-01 $123,125 (-1.9%) $179,706 (-0.3%) 0.00 535
    2019-11-01 $119,900 (-0.6%) $179,814 (0.5%) 0.00 516
    2019-12-01 $119,000 (-4.8%) $172,762 (-1.7%) 0.00 500
    2020-01-01 $115,000 (-6.1%) $166,463 (-4.9%) 0.00 455
    2020-02-01 $125,000 (-3.4%) $179,822 (-1.2%) 0.00 395
    2020-03-01 $124,925 (-6.8%) $180,299 (-3.8%) 0.00 369
    2020-04-01 $122,475 (-11.7%) $183,304 (-4.8%) 0.00 333
    2020-05-01 $119,900 (-14.2%) $178,431 (-10.9%) 0.00 318
    2020-06-01 $115,750 (-17.3%) $180,007 (-11.0%) 0.00 312
    2020-07-01 $119,975 (-14.2%) $192,664 (-6.2%) 0.00 316
    2020-08-01 $122,670 (-9.4%) $206,352 (4.6%) 0.00 303
    2020-09-01 $115,875 (-9.8%) $211,287 (13.6%) 0.00 289
    2020-10-01 $114,900 (-6.7%) $199,100 (10.8%) 0.00 322
    2020-11-01 $115,500 (-3.7%) $197,091 (9.6%) 0.00 320
    2020-12-01 $119,950 (0.8%) $199,437 (15.4%) 0.00 288
    2021-01-01 $122,950 (6.9%) $209,064 (25.6%) 0.00 254
    2021-02-01 $135,000 (8.0%) $220,493 (22.6%) 0.00 220
    2021-03-01 $132,750 (6.3%) $226,874 (25.8%) 0.00 200
    2021-04-01 $135,000 (10.2%) $238,834 (30.3%) 0.00 170
    2021-05-01 $155,000 (29.3%) $257,019 (44.0%) 0.00 164
    2021-06-01 $157,000 (35.6%) $249,436 (38.6%) 0.00 178
    2021-07-01 $141,000 (17.5%) $221,657 (15.1%) 0.00 190
    2021-08-01 $131,000 (6.8%) $214,411 (3.9%) 0.00 191
    2021-09-01 $139,125 (20.1%) $228,585 (8.2%) 0.00 184
    2021-10-01 $145,000 (26.2%) $223,286 (12.2%) 0.00 172
    2021-11-01 $133,700 (15.8%) $217,195 (10.2%) 0.00 158
    2021-12-01 $125,975 (5.0%) $228,541 (14.6%) 0.00 145
    2022-01-01 $127,000 (3.3%) $236,744 (13.2%) 0.00 125
    2022-02-01 $124,974 (-7.4%) $222,785 (1.0%) 0.00 119
    2022-03-01 $139,975 (5.4%) $250,526 (10.4%) 0.00 110
    2022-04-01 $129,900 (-3.8%) $241,537 (1.1%) 0.00 124
    2022-05-01 $141,200 (-8.9%) $237,057 (-7.8%) 0.00 120
    2022-06-01 $143,225 (-8.8%) $243,038 (-2.6%) 0.00 136
    2022-07-01 $139,000 (-1.4%) $228,418 (3.1%) 0.00 156
    2022-08-01 $154,450 (17.9%) $239,934 (11.9%) 0.00 180
    2022-09-01 $158,750 (14.1%) $254,791 (11.5%) 0.00 175
    2022-10-01 $149,950 (3.4%) $260,760 (16.8%) 0.00 191
    2022-11-01 $161,225 (20.6%) $267,394 (23.1%) 0.00 180
    2022-12-01 $152,000 (20.7%) $247,582 (8.3%) 0.00 182
    2023-01-01 $152,500 (20.1%) $254,578 (7.5%) 0.00 169
    2023-02-01 $153,000 (22.4%) $283,874 (27.4%) 0.00 154
    2023-03-01 $153,750 (9.8%) $289,461 (15.5%) 0.00 148
    2023-04-01 $184,950 (42.4%) $308,870 (27.9%) 0.00 138
    2023-05-01 $205,000 (45.2%) $314,705 (32.8%) 0.00 145
    2023-06-01 $217,500 (51.9%) $299,213 (23.1%) 0.00 167
    2023-07-01 $219,950 (58.2%) $293,275 (28.4%) 0.00 181
    2023-08-01 $212,425 (37.5%) $289,826 (20.8%) 0.00 181
    2023-09-01 $199,900 (25.9%) $281,431 (10.5%) 0.00 181
    2023-10-01 $194,750 (29.9%) $277,050 (6.3%) 0.00 199
    2023-11-01 $189,725 (17.7%) $268,074 (0.3%) 0.00 186
    2023-12-01 $190,450 (25.3%) $249,620 (0.8%) 0.00 188
    2024-01-01 $188,425 (23.6%) $237,913 (-6.6%) 0.00 180
    2024-02-01 $160,975 (5.2%) $224,642 (-20.9%) 0.00 171
    2024-03-01 $169,000 (9.9%) $237,753 (-17.9%) 0.00 179
    2024-04-01 $178,225 (-3.6%) $271,045 (-12.3%) 0.00 164
    2024-05-01 $177,300 (-13.5%) $280,030 (-11.0%) 0.00 193
    2024-06-01 $179,900 (-17.3%) $291,035 (-2.7%) 0.00 204
    2024-07-01 $186,200 (-15.3%) $296,391 (1.1%) 0.00 216
    2024-08-01 $219,900 (3.5%) $313,315 (8.1%) 0.00 213
    2024-09-01 $212,250 (6.2%) $298,443 (6.0%) 0.00 221
    2024-10-01 $215,000 (10.4%) $303,890 (9.7%) 0.00 223
    2024-11-01 $199,000 (4.9%) $267,549 (-0.2%) 0.00 218
    2024-12-01 $192,500 (1.1%) $266,139 (6.6%) 0.00 196
    2025-01-01 $187,750 (-0.4%) $267,977 (12.6%) 0.00 185
    2025-02-01 $189,450 (17.7%) $264,228 (17.6%) 0.00 174
    2025-03-01 $185,000 (9.5%) $258,710 (8.8%) 0.00 175
    2025-04-01 $182,975 (2.7%) $242,324 (-10.6%) 0.00 195
    2025-05-01 $189,500 (6.9%) $298,201 (6.5%) 0.00 214
    2025-06-01 $195,000 (8.4%) $297,475 (2.2%) 0.00 248
    Beckley's median listing price for 2025-06-01 was $195,000, a difference of $15,100 (8.4%) versus the prior year and $5,500 versus the prior month.

    Beckley's median listing price comes in at 0% of the national average.

    Beckley's average listing price for 2025-06-01 was $297,475, a difference of $6,440 (2.2%) versus the prior year and $-726 versus the prior month.

    For the 2025-06-01 period, Beckley had 248 MLS listings, a difference of 34 listings (16%) versus the prior month and 44 listings (22%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Beckley (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,773 sqft
    2018-02-01 0 days 1,754 sqft
    2018-03-01 0 days 1,751 sqft
    2018-04-01 0 days 1,750 sqft
    2018-05-01 0 days 1,767 sqft
    2018-06-01 0 days 1,767 sqft
    2018-07-01 0 days 1,762 sqft
    2018-08-01 0 days 1,750 sqft
    2018-09-01 0 days 1,764 sqft
    2018-10-01 0 days 1,748 sqft
    2018-11-01 0 days 1,718 sqft
    2018-12-01 0 days 1,686 sqft
    2019-01-01 0 days 1,667 sqft
    2019-02-01 0 days 1,737 sqft
    2019-03-01 0 days 1,769 sqft
    2019-04-01 0 days 1,798 sqft
    2019-05-01 0 days 1,844 sqft
    2019-06-01 0 days 1,861 sqft
    2019-07-01 0 days 1,881 sqft
    2019-08-01 0 days 1,885 sqft
    2019-09-01 0 days 1,881 sqft
    2019-10-01 0 days 1,878 sqft
    2019-11-01 0 days 1,891 sqft
    2019-12-01 0 days 1,845 sqft
    2020-01-01 0 days 1,799 sqft
    2020-02-01 0 days 1,738 sqft
    2020-03-01 0 days 1,673 sqft
    2020-04-01 0 days 1,618 sqft
    2020-05-01 0 days 1,657 sqft
    2020-06-01 0 days 1,651 sqft
    2020-07-01 0 days 1,743 sqft
    2020-08-01 0 days 1,824 sqft
    2020-09-01 0 days 1,756 sqft
    2020-10-01 0 days 1,593 sqft
    2020-11-01 0 days 1,590 sqft
    2020-12-01 0 days 1,583 sqft
    2021-01-01 0 days 1,584 sqft
    2021-02-01 0 days 1,618 sqft
    2021-03-01 0 days 1,676 sqft
    2021-04-01 0 days 1,677 sqft
    2021-05-01 0 days 1,823 sqft
    2021-06-01 0 days 1,812 sqft
    2021-07-01 0 days 1,755 sqft
    2021-08-01 0 days 1,733 sqft
    2021-09-01 0 days 1,717 sqft
    2021-10-01 0 days 1,726 sqft
    2021-11-01 0 days 1,695 sqft
    2021-12-01 0 days 1,663 sqft
    2022-01-01 0 days 1,575 sqft
    2022-02-01 0 days 1,584 sqft
    2022-03-01 0 days 1,688 sqft
    2022-04-01 0 days 1,595 sqft
    2022-05-01 0 days 1,579 sqft
    2022-06-01 0 days 1,604 sqft
    2022-07-01 0 days 1,600 sqft
    2022-08-01 0 days 1,641 sqft
    2022-09-01 0 days 1,658 sqft
    2022-10-01 0 days 1,535 sqft
    2022-11-01 0 days 1,596 sqft
    2022-12-01 0 days 1,537 sqft
    2023-01-01 0 days 1,522 sqft
    2023-02-01 0 days 1,540 sqft
    2023-03-01 0 days 1,583 sqft
    2023-04-01 0 days 1,674 sqft
    2023-05-01 0 days 1,755 sqft
    2023-06-01 0 days 1,794 sqft
    2023-07-01 0 days 1,819 sqft
    2023-08-01 0 days 1,808 sqft
    2023-09-01 0 days 1,823 sqft
    2023-10-01 0 days 1,858 sqft
    2023-11-01 0 days 1,877 sqft
    2023-12-01 0 days 1,891 sqft
    2024-01-01 0 days 1,743 sqft
    2024-02-01 0 days 1,696 sqft
    2024-03-01 0 days 1,708 sqft
    2024-04-01 0 days 1,660 sqft
    2024-05-01 0 days 1,692 sqft
    2024-06-01 0 days 1,746 sqft
    2024-07-01 0 days 1,800 sqft
    2024-08-01 0 days 1,851 sqft
    2024-09-01 0 days 1,741 sqft
    2024-10-01 0 days 1,699 sqft
    2024-11-01 0 days 1,713 sqft
    2024-12-01 0 days 1,604 sqft
    2025-01-01 0 days 1,609 sqft
    2025-02-01 0 days 1,628 sqft
    2025-03-01 0 days 1,629 sqft
    2025-04-01 0 days 1,647 sqft
    2025-05-01 0 days 1,666 sqft
    2025-06-01 0 days 1,656 sqft
    Beckley's median listing age (time on market) for 2025-06-01 was 0 days.

    Beckley's median square footage for active listings during the 2025-06-01 period was 1,656 sqft. One year prior, the average listing was 1,746 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).