Bluefield FHA Loan Rates, Closing Costs & Stats

Bluefield, WV-VA

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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.

    Bluefield's 27 lenders originated 201 FHA loans during 2023. The total origination value was $29,105,000, with an average FHA loan value of $144,801.

    Bluefield FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Bluefield averaged 6.42% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

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

    The average rate for the prior week (2025-02-07) was 6.64% and one month ago for the week of 2025-01-10, the average rate was 6.9%.

    The average rate one year ago was 6.43%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.42%.

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

    Bluefield 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 Bluefield level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Atlantic Union Bank 56 6.85% $8,699
    QUICKEN LOANS, LLC 34 6.42% $6,759
    MOVEMENT MORTGAGE, LLC 25 6.69% $8,336
    PRIMELENDING, A PLAINSCAPITAL COMPANY 15 6.93% $8,760
    CARDINAL FINANCIAL 9 6.32% $7,263
    FREEDOM MORTGAGE CORPORATION 6 7.02% $8,413
    BROKER SOLUTIONS, INC. 5 7.00% $8,424
    LOANDEPOT.COM, LLC 5 6.72% $7,399
    Blue Ridge Bank 4 6.31% $6,166
    Alcova Mortgage LLC 3 6.66% $2,286
    AMERISAVE MORTGAGE CORPORATION 3 6.25% $11,533
    UNION HOME MORTGAGE CORP. 2 7.63% $7,285
    Renasant Bank 2 6.93% $4,917
    Truist 2 6.00% $6,609
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.75% $5,728
    M&T Bank 1 5.75% $4,978
    AMERICAN FINANCING CORPORATION 1 6.50% $7,963
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.13% $8,770
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $11,507
    UNITED WHOLESALE MORTGAGE, LLC 1 5.13% $22,228
    U.S. Bank 1 6.75% $7,426
    Victorian Finance, LLC 1 6.75% $4,882
    Virginia Credit Union, Inc. 1 5.50% $3,934
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $6,798
    ZILLOW HOME LOANS, LLC 1 7.63% $8,733
    JPMorgan Chase Bank 1 5.75% $2,178
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $7,978

    The top Bluefield FHA lender as defined by loan originations is Atlantic Union Bank, with 56 FHA loans originated. Their average total fees are $8,699, which is $1,940 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Bluefield FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($6,759), MOVEMENT MORTGAGE, LLC ($8,336), Atlantic Union Bank ($8,699), PRIMELENDING, A PLAINSCAPITAL COMPANY ($8,760) and .

    The lowest rate Bluefield FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.42%), MOVEMENT MORTGAGE, LLC (6.69%), Atlantic Union Bank (6.85%), PRIMELENDING, A PLAINSCAPITAL COMPANY (6.93%) and .

    Bluefield FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BLUEFIELD, WV-VA BLAND 2022 $420,680 $538,650 $651,050 $809,150
    BLUEFIELD, WV-VA TAZEWELL 2022 $420,680 $538,650 $651,050 $809,150
    BLUEFIELD, WV-VA MERCER 2022 $420,680 $538,650 $651,050 $809,150
    BLUEFIELD, WV-VA BLAND 2023 $472,030 $604,400 $730,525 $907,900
    BLUEFIELD, WV-VA TAZEWELL 2023 $472,030 $604,400 $730,525 $907,900
    BLUEFIELD, WV-VA MERCER 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bluefield (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 $121,150 (-2.9%) $166,837 (1.4%) 0.00 498
    2018-02-01 $119,900 (-4.0%) $169,604 (2.6%) 0.00 496
    2018-03-01 $119,900 (-4.0%) $171,323 (-0.7%) 0.00 497
    2018-04-01 $122,625 (-1.9%) $175,082 (1.9%) 0.00 482
    2018-05-01 $125,000 (0.7%) $175,048 (4.2%) 0.00 510
    2018-06-01 $124,900 (2.6%) $177,475 (5.6%) 0.00 530
    2018-07-01 $123,950 (0.4%) $177,622 (4.7%) 0.00 550
    2018-08-01 $127,125 (3.1%) $177,225 (5.4%) 0.00 557
    2018-09-01 $139,000 (11.3%) $186,377 (9.4%) 0.00 554
    2018-10-01 $132,850 (7.7%) $181,958 (7.1%) 0.00 554
    2018-11-01 $131,750 (8.2%) $184,342 (8.9%) 0.00 515
    2018-12-01 $130,000 (8.4%) $185,085 (10.6%) 0.00 490
    2019-01-01 $129,900 (7.2%) $184,838 (10.8%) 0.00 456
    2019-02-01 $129,900 (8.3%) $181,770 (7.2%) 0.00 436
    2019-03-01 $131,636 (9.8%) $167,754 (-2.1%) 0.00 454
    2019-04-01 $131,636 (7.4%) $163,044 (-6.9%) 0.00 478
    2019-05-01 $128,725 (3.0%) $160,910 (-8.1%) 0.00 493
    2019-06-01 $129,900 (4.0%) $164,365 (-7.4%) 0.00 515
    2019-07-01 $129,900 (4.8%) $163,568 (-7.9%) 0.00 545
    2019-08-01 $131,216 (3.2%) $166,172 (-6.2%) 0.00 543
    2019-09-01 $133,190 (-4.2%) $170,080 (-8.7%) 0.00 524
    2019-10-01 $134,506 (1.3%) $172,685 (-5.1%) 0.00 506
    2019-11-01 $132,500 (0.6%) $172,805 (-6.3%) 0.00 477
    2019-12-01 $129,900 (-0.1%) $170,123 (-8.1%) 0.00 433
    2020-01-01 $129,900 (0.0%) $168,671 (-8.8%) 0.00 412
    2020-02-01 $129,900 (0.0%) $171,919 (-5.4%) 0.00 416
    2020-03-01 $133,075 (1.1%) $177,468 (5.8%) 0.00 397
    2020-04-01 $134,675 (2.3%) $182,387 (11.9%) 0.00 377
    2020-05-01 $134,950 (4.8%) $186,981 (16.2%) 0.00 343
    2020-06-01 $139,900 (7.7%) $184,515 (12.3%) 0.00 329
    2020-07-01 $135,950 (4.7%) $190,289 (16.3%) 0.00 312
    2020-08-01 $139,900 (6.6%) $208,845 (25.7%) 0.00 282
    2020-09-01 $149,000 (11.9%) $216,544 (27.3%) 0.00 277
    2020-10-01 $149,950 (11.5%) $222,538 (28.9%) 0.00 284
    2020-11-01 $149,900 (13.1%) $214,098 (23.9%) 0.00 283
    2020-12-01 $145,000 (11.6%) $201,282 (18.3%) 0.00 267
    2021-01-01 $149,900 (15.4%) $206,836 (22.6%) 0.00 248
    2021-02-01 $149,375 (15.0%) $206,104 (19.9%) 0.00 225
    2021-03-01 $150,500 (13.1%) $210,644 (18.7%) 0.00 204
    2021-04-01 $153,725 (14.2%) $221,383 (21.4%) 0.00 193
    2021-05-01 $142,000 (5.2%) $233,717 (25.0%) 0.00 197
    2021-06-01 $135,000 (-3.5%) $240,327 (30.3%) 0.00 178
    2021-07-01 $139,900 (2.9%) $241,386 (26.9%) 0.00 183
    2021-08-01 $136,000 (-2.8%) $236,674 (13.3%) 0.00 185
    2021-09-01 $134,975 (-9.4%) $229,419 (6.0%) 0.00 180
    2021-10-01 $134,450 (-10.3%) $216,236 (-2.8%) 0.00 175
    2021-11-01 $138,450 (-7.6%) $229,326 (7.1%) 0.00 163
    2021-12-01 $139,900 (-3.5%) $232,798 (15.7%) 0.00 151
    2022-01-01 $139,900 (-6.7%) $230,773 (11.6%) 0.00 135
    2022-02-01 $148,000 (-0.9%) $246,381 (19.5%) 0.00 121
    2022-03-01 $141,950 (-5.7%) $251,106 (19.2%) 0.00 106
    2022-04-01 $144,900 (-5.7%) $239,744 (8.3%) 0.00 110
    2022-05-01 $151,000 (6.3%) $239,037 (2.3%) 0.00 123
    2022-06-01 $150,925 (11.8%) $236,741 (-1.5%) 0.00 132
    2022-07-01 $144,900 (3.6%) $238,438 (-1.2%) 0.00 152
    2022-08-01 $149,900 (10.2%) $236,920 (0.1%) 0.00 155
    2022-09-01 $154,475 (14.5%) $238,501 (4.0%) 0.00 153
    2022-10-01 $165,450 (23.1%) $236,146 (9.2%) 0.00 151
    2022-11-01 $154,950 (11.9%) $221,515 (-3.4%) 0.00 151
    2022-12-01 $162,400 (16.1%) $249,159 (7.0%) 0.00 154
    2023-01-01 $163,950 (17.2%) $247,515 (7.3%) 0.00 133
    2023-02-01 $177,000 (19.6%) $270,282 (9.7%) 0.00 119
    2023-03-01 $149,900 (5.6%) $260,486 (3.7%) 0.00 111
    2023-04-01 $169,000 (16.6%) $251,406 (4.9%) 0.00 102
    2023-05-01 $179,950 (19.2%) $272,091 (13.8%) 0.00 91
    2023-06-01 $179,225 (18.8%) $271,375 (14.6%) 0.00 109
    2023-07-01 $176,950 (22.1%) $283,525 (18.9%) 0.00 144
    2023-08-01 $172,975 (15.4%) $301,165 (27.1%) 0.00 164
    2023-09-01 $172,500 (11.7%) $333,994 (40.0%) 0.00 165
    2023-10-01 $169,975 (2.7%) $332,128 (40.6%) 0.00 169
    2023-11-01 $175,425 (13.2%) $285,857 (29.1%) 0.00 161
    2023-12-01 $189,900 (16.9%) $296,918 (19.2%) 0.00 153
    2024-01-01 $179,475 (9.5%) $252,231 (1.9%) 0.00 160
    2024-02-01 $182,125 (2.9%) $240,672 (-11.0%) 0.00 148
    2024-03-01 $192,500 (28.4%) $259,688 (-0.3%) 0.00 146
    2024-04-01 $191,200 (13.1%) $259,268 (3.1%) 0.00 151
    2024-05-01 $189,900 (5.5%) $260,532 (-4.3%) 0.00 142
    2024-06-01 $180,000 (0.4%) $288,292 (6.2%) 0.00 152
    2024-07-01 $196,375 (11.0%) $302,737 (6.8%) 0.00 175
    2024-08-01 $169,450 (-2.0%) $291,552 (-3.2%) 0.00 195
    2024-09-01 $172,225 (-0.2%) $277,218 (-17.0%) 0.00 188
    2024-10-01 $172,000 (1.2%) $274,233 (-17.4%) 0.00 195
    2024-11-01 $188,000 (7.2%) $276,183 (-3.4%) 0.00 202
    2024-12-01 $181,150 (-4.6%) $273,358 (-7.9%) 0.00 204
    2025-01-01 $180,825 (0.8%) $280,965 (11.4%) 0.00 186
    Bluefield's median listing price for 2025-01-01 was $180,825, a difference of $1,350 (0.8%) versus the prior year and $-325 versus the prior month.

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

    Bluefield's average listing price for 2025-01-01 was $280,965, a difference of $28,734 (11.4%) versus the prior year and $7,607 versus the prior month.

    For the 2025-01-01 period, Bluefield had 186 MLS listings, a difference of -18 listings (-9%) versus the prior month and 26 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bluefield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,646 sqft
    2018-02-01 0 days 1,642 sqft
    2018-03-01 0 days 1,644 sqft
    2018-04-01 0 days 1,644 sqft
    2018-05-01 0 days 1,650 sqft
    2018-06-01 0 days 1,680 sqft
    2018-07-01 0 days 1,669 sqft
    2018-08-01 0 days 1,680 sqft
    2018-09-01 0 days 1,727 sqft
    2018-10-01 0 days 1,697 sqft
    2018-11-01 0 days 1,681 sqft
    2018-12-01 0 days 1,662 sqft
    2019-01-01 0 days 1,657 sqft
    2019-02-01 0 days 1,674 sqft
    2019-03-01 0 days 1,648 sqft
    2019-04-01 0 days 1,645 sqft
    2019-05-01 0 days 1,655 sqft
    2019-06-01 0 days 1,666 sqft
    2019-07-01 0 days 1,680 sqft
    2019-08-01 0 days 1,694 sqft
    2019-09-01 0 days 1,698 sqft
    2019-10-01 0 days 1,701 sqft
    2019-11-01 0 days 1,694 sqft
    2019-12-01 0 days 1,637 sqft
    2020-01-01 0 days 1,670 sqft
    2020-02-01 0 days 1,670 sqft
    2020-03-01 0 days 1,699 sqft
    2020-04-01 0 days 1,703 sqft
    2020-05-01 0 days 1,752 sqft
    2020-06-01 0 days 1,746 sqft
    2020-07-01 0 days 1,728 sqft
    2020-08-01 0 days 1,768 sqft
    2020-09-01 0 days 1,815 sqft
    2020-10-01 0 days 1,794 sqft
    2020-11-01 0 days 1,779 sqft
    2020-12-01 0 days 1,785 sqft
    2021-01-01 0 days 1,818 sqft
    2021-02-01 0 days 1,798 sqft
    2021-03-01 0 days 1,824 sqft
    2021-04-01 0 days 1,837 sqft
    2021-05-01 0 days 1,800 sqft
    2021-06-01 0 days 1,712 sqft
    2021-07-01 0 days 1,729 sqft
    2021-08-01 0 days 1,727 sqft
    2021-09-01 0 days 1,745 sqft
    2021-10-01 0 days 1,624 sqft
    2021-11-01 0 days 1,770 sqft
    2021-12-01 0 days 1,724 sqft
    2022-01-01 0 days 1,671 sqft
    2022-02-01 0 days 1,774 sqft
    2022-03-01 0 days 1,853 sqft
    2022-04-01 0 days 1,802 sqft
    2022-05-01 0 days 1,806 sqft
    2022-06-01 0 days 1,777 sqft
    2022-07-01 0 days 1,704 sqft
    2022-08-01 0 days 1,774 sqft
    2022-09-01 0 days 1,704 sqft
    2022-10-01 0 days 1,816 sqft
    2022-11-01 0 days 1,749 sqft
    2022-12-01 0 days 1,796 sqft
    2023-01-01 0 days 1,778 sqft
    2023-02-01 0 days 1,841 sqft
    2023-03-01 0 days 1,699 sqft
    2023-04-01 0 days 1,734 sqft
    2023-05-01 0 days 1,992 sqft
    2023-06-01 0 days 2,006 sqft
    2023-07-01 0 days 1,860 sqft
    2023-08-01 0 days 1,931 sqft
    2023-09-01 0 days 1,943 sqft
    2023-10-01 0 days 1,813 sqft
    2023-11-01 0 days 1,854 sqft
    2023-12-01 0 days 1,884 sqft
    2024-01-01 0 days 1,763 sqft
    2024-02-01 0 days 1,763 sqft
    2024-03-01 0 days 1,828 sqft
    2024-04-01 0 days 1,881 sqft
    2024-05-01 0 days 1,929 sqft
    2024-06-01 0 days 1,776 sqft
    2024-07-01 0 days 1,825 sqft
    2024-08-01 0 days 1,700 sqft
    2024-09-01 0 days 1,752 sqft
    2024-10-01 0 days 1,658 sqft
    2024-11-01 0 days 1,690 sqft
    2024-12-01 0 days 1,657 sqft
    2025-01-01 0 days 1,622 sqft
    Bluefield's median listing age (time on market) for 2025-01-01 was 0 days.

    Bluefield's median square footage for active listings during the 2025-01-01 period was 1,622 sqft. One year prior, the average listing was 1,763 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).