Clarksburg FHA Loan Rates, Closing Costs & Stats

Clarksburg, 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.

    Clarksburg's 30 lenders originated 214 FHA loans during 2023. The total origination value was $34,320,000, with an average FHA loan value of $160,374.

    Clarksburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Clarksburg averaged 6.46% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Clarksburg's average FHA mortgage closing costs are $6,321.

    The average rate for the prior week (2024-04-12) was 6.35% and one month ago for the week of 2024-03-15, the average rate was 6.52%.

    The average rate one year ago was 6.05%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Clarksburg 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 Clarksburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 36 6.59% $8,698
    The Huntington National Bank 36 6.10% $7,067
    WesBanco 24 6.02% $7,289
    LOANDEPOT.COM, LLC 19 6.19% $8,209
    MOVEMENT MORTGAGE, LLC 15 6.36% $6,438
    INTERCOASTAL MORTGAGE COMPANY 12 6.42% $7,146
    UNITED WHOLESALE MORTGAGE, LLC 7 6.24% $9,690
    Sierra Pacific Mortgage Company, Inc. 7 7.13% $8,587
    Flagstar Bank, FSB 5 6.75% $8,355
    BROKER SOLUTIONS, INC. 3 6.75% $7,594
    AMERISAVE MORTGAGE CORPORATION 3 6.25% $8,738
    First Federal Bank of the Midwest 3 5.52% $6,042
    CROSSCOUNTRY MORTGAGE, LLC 2 6.13% $10,489
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.48% $6,128
    First National Bank of Pennsylvania 2 6.63% $6,844
    Victorian Finance, LLC 2 5.79% $6,637
    PNC Bank 2 7.25% $6,757
    Blue Ridge Bank 2 6.75% $5,716
    Truist 2 6.85% $5,835
    LIBERTY HOME MORTGAGE CORPORATION 1 7.25% $13,161
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $9,767
    C & F Mortgage Corporation 1 5.63% $4,027
    FREEDOM MORTGAGE CORPORATION 1 7.25% $12,833
    Gateway First Bank 1 5.83% $6,997
    GUARANTEED RATE, INC. 1 7.63% $8,298
    JPMorgan Chase Bank 1 6.99% $10,146
    Alcova Mortgage LLC 1 7.13% $6,617
    Mortgage Research Center, LLC 1 5.75% $3,163
    PENNYMAC LOAN SERVICES, LLC 1 6.13% $14,459
    U.S. Bank 1 5.25% $9,225

    The top Clarksburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 36 FHA loans originated. Their average total fees are $8,698, which is $1,631 higher than the next largest lender, The Huntington National Bank.

    The lowest fee Clarksburg FHA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($6,438), The Huntington National Bank ($7,067), INTERCOASTAL MORTGAGE COMPANY ($7,146), WesBanco ($7,289) and LOANDEPOT.COM, LLC ($8,209).

    The lowest rate Clarksburg FHA lenders (with over 10 loans originated) are WesBanco (6.02%), The Huntington National Bank (6.10%), LOANDEPOT.COM, LLC (6.19%), MOVEMENT MORTGAGE, LLC (6.36%) and INTERCOASTAL MORTGAGE COMPANY (6.42%).

    Clarksburg FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Clarksburg (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 $140,500 (1.0%) $185,574 (2.4%) 0.00 310
    2018-02-01 $153,800 (10.3%) $195,089 (8.1%) 0.00 286
    2018-03-01 $166,000 (19.4%) $209,043 (16.3%) 0.00 250
    2018-04-01 $165,000 (19.1%) $202,299 (10.9%) 0.00 249
    2018-05-01 $164,925 (18.9%) $200,503 (9.9%) 0.00 243
    2018-06-01 $174,900 (26.9%) $216,042 (18.5%) 0.00 244
    2018-07-01 $179,700 (28.5%) $217,556 (18.5%) 0.00 253
    2018-08-01 $178,500 (27.6%) $211,270 (18.1%) 0.00 266
    2018-09-01 $179,900 (28.8%) $211,987 (18.3%) 0.00 273
    2018-10-01 $180,200 (28.8%) $206,943 (13.8%) 0.00 291
    2018-11-01 $181,700 (31.4%) $207,203 (14.5%) 0.00 277
    2018-12-01 $179,900 (29.9%) $206,059 (13.7%) 0.00 266
    2019-01-01 $186,700 (32.9%) $209,473 (12.9%) 0.00 248
    2019-02-01 $192,225 (25.0%) $219,552 (12.5%) 0.00 232
    2019-03-01 $176,786 (6.5%) $208,665 (-0.2%) 0.00 235
    2019-04-01 $162,061 (-1.8%) $198,281 (-2.0%) 0.00 241
    2019-05-01 $168,750 (2.3%) $201,562 (0.5%) 0.00 252
    2019-06-01 $174,000 (-0.5%) $210,788 (-2.4%) 0.00 244
    2019-07-01 $178,250 (-0.8%) $218,472 (0.4%) 0.00 260
    2019-08-01 $171,182 (-4.1%) $213,898 (1.2%) 0.00 259
    2019-09-01 $163,205 (-9.3%) $209,095 (-1.4%) 0.00 256
    2019-10-01 $157,886 (-12.4%) $206,141 (-0.4%) 0.00 254
    2019-11-01 $159,000 (-12.5%) $213,082 (2.8%) 0.00 239
    2019-12-01 $133,950 (-25.5%) $203,683 (-1.2%) 0.00 212
    2020-01-01 $129,900 (-30.4%) $193,431 (-7.7%) 0.00 197
    2020-02-01 $135,000 (-29.8%) $196,791 (-10.4%) 0.00 192
    2020-03-01 $155,875 (-11.8%) $198,396 (-4.9%) 0.00 191
    2020-04-01 $154,950 (-4.4%) $197,924 (-0.2%) 0.00 191
    2020-05-01 $157,450 (-6.7%) $201,891 (0.2%) 0.00 190
    2020-06-01 $130,950 (-24.7%) $197,425 (-6.3%) 0.00 179
    2020-07-01 $143,750 (-19.4%) $194,629 (-10.9%) 0.00 169
    2020-08-01 $156,450 (-8.6%) $198,555 (-7.2%) 0.00 168
    2020-09-01 $149,900 (-8.2%) $189,855 (-9.2%) 0.00 185
    2020-10-01 $143,500 (-9.1%) $188,283 (-8.7%) 0.00 188
    2020-11-01 $136,625 (-14.1%) $181,722 (-14.7%) 0.00 191
    2020-12-01 $138,450 (3.4%) $175,956 (-13.6%) 0.00 169
    2021-01-01 $129,900 (0.0%) $171,232 (-11.5%) 0.00 140
    2021-02-01 $136,200 (0.9%) $175,130 (-11.0%) 0.00 124
    2021-03-01 $133,225 (-14.5%) $177,243 (-10.7%) 0.00 116
    2021-04-01 $129,975 (-16.1%) $175,866 (-11.1%) 0.00 106
    2021-05-01 $145,450 (-7.6%) $179,821 (-10.9%) 0.00 94
    2021-06-01 $152,425 (16.4%) $201,367 (2.0%) 0.00 120
    2021-07-01 $155,000 (7.8%) $211,767 (8.8%) 0.00 140
    2021-08-01 $164,950 (5.4%) $219,874 (10.7%) 0.00 142
    2021-09-01 $167,000 (11.4%) $220,728 (16.3%) 0.00 142
    2021-10-01 $162,450 (13.2%) $218,143 (15.9%) 0.00 158
    2021-11-01 $166,000 (21.5%) $222,589 (22.5%) 0.00 149
    2021-12-01 $166,225 (20.1%) $226,295 (28.6%) 0.00 133
    2022-01-01 $175,000 (34.7%) $226,699 (32.4%) 0.00 106
    2022-02-01 $175,000 (28.5%) $233,371 (33.3%) 0.00 99
    2022-03-01 $171,900 (29.0%) $216,168 (22.0%) 0.00 91
    2022-04-01 $184,000 (41.6%) $223,924 (27.3%) 0.00 101
    2022-05-01 $186,750 (28.4%) $239,428 (33.2%) 0.00 117
    2022-06-01 $193,200 (26.8%) $239,934 (19.2%) 0.00 130
    2022-07-01 $182,500 (17.7%) $230,957 (9.1%) 0.00 127
    2022-08-01 $186,200 (12.9%) $234,322 (6.6%) 0.00 121
    2022-09-01 $199,750 (19.6%) $236,602 (7.2%) 0.00 129
    2022-10-01 $196,500 (21.0%) $232,375 (6.5%) 0.00 135
    2022-11-01 $203,250 (22.4%) $226,611 (1.8%) 0.00 139
    2022-12-01 $207,000 (24.5%) $252,508 (11.6%) 0.00 119
    2023-01-01 $192,250 (9.9%) $242,520 (7.0%) 0.00 107
    2023-02-01 $197,250 (12.7%) $248,979 (6.7%) 0.00 105
    2023-03-01 $189,750 (10.4%) $246,037 (13.8%) 0.00 107
    2023-04-01 $158,750 (-13.7%) $226,917 (1.3%) 0.00 123
    2023-05-01 $172,225 (-7.8%) $231,289 (-3.4%) 0.00 127
    2023-06-01 $209,500 (8.4%) $239,377 (-0.2%) 0.00 129
    2023-07-01 $204,250 (11.9%) $251,260 (8.8%) 0.00 111
    2023-08-01 $207,500 (11.4%) $307,448 (31.2%) 0.00 122
    2023-09-01 $198,800 (-0.5%) $283,196 (19.7%) 0.00 144
    2023-10-01 $176,425 (-10.2%) $264,748 (13.9%) 0.00 148
    2023-11-01 $184,850 (-9.1%) $265,949 (17.4%) 0.00 157
    2023-12-01 $172,250 (-16.8%) $247,036 (-2.2%) 0.00 161
    2024-01-01 $172,225 (-10.4%) $242,243 (-0.1%) 0.00 148
    2024-02-01 $185,325 (-6.1%) $243,103 (-2.4%) 0.00 132
    2024-03-01 $194,950 (2.7%) $258,101 (4.9%) 0.00 134
    Clarksburg's median listing price for 2024-03-01 was $194,950, a difference of $5,200 (2.7%) versus the prior year and $9,625 versus the prior month.

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

    Clarksburg's average listing price for 2024-03-01 was $258,101, a difference of $12,064 (4.9%) versus the prior year and $14,998 versus the prior month.

    For the 2024-03-01 period, Clarksburg had 134 MLS listings, a difference of 2 listings (2%) versus the prior month and 27 listings (25%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Clarksburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,728 sqft
    2018-02-01 0 days 1,776 sqft
    2018-03-01 0 days 1,800 sqft
    2018-04-01 0 days 1,800 sqft
    2018-05-01 0 days 1,800 sqft
    2018-06-01 0 days 1,904 sqft
    2018-07-01 0 days 1,896 sqft
    2018-08-01 0 days 1,837 sqft
    2018-09-01 0 days 1,865 sqft
    2018-10-01 0 days 1,800 sqft
    2018-11-01 0 days 1,800 sqft
    2018-12-01 0 days 1,792 sqft
    2019-01-01 0 days 1,798 sqft
    2019-02-01 0 days 1,832 sqft
    2019-03-01 0 days 1,778 sqft
    2019-04-01 0 days 1,734 sqft
    2019-05-01 0 days 1,799 sqft
    2019-06-01 0 days 1,863 sqft
    2019-07-01 0 days 1,910 sqft
    2019-08-01 0 days 1,860 sqft
    2019-09-01 0 days 1,784 sqft
    2019-10-01 0 days 1,754 sqft
    2019-11-01 0 days 1,781 sqft
    2019-12-01 0 days 1,700 sqft
    2020-01-01 0 days 1,619 sqft
    2020-02-01 0 days 1,672 sqft
    2020-03-01 0 days 1,680 sqft
    2020-04-01 0 days 1,734 sqft
    2020-05-01 0 days 1,728 sqft
    2020-06-01 0 days 1,738 sqft
    2020-07-01 0 days 1,680 sqft
    2020-08-01 0 days 1,686 sqft
    2020-09-01 0 days 1,628 sqft
    2020-10-01 0 days 1,600 sqft
    2020-11-01 0 days 1,559 sqft
    2020-12-01 0 days 1,580 sqft
    2021-01-01 0 days 1,533 sqft
    2021-02-01 0 days 1,511 sqft
    2021-03-01 0 days 1,474 sqft
    2021-04-01 0 days 1,512 sqft
    2021-05-01 0 days 1,412 sqft
    2021-06-01 0 days 1,504 sqft
    2021-07-01 0 days 1,579 sqft
    2021-08-01 0 days 1,681 sqft
    2021-09-01 0 days 1,685 sqft
    2021-10-01 0 days 1,629 sqft
    2021-11-01 0 days 1,629 sqft
    2021-12-01 0 days 1,605 sqft
    2022-01-01 0 days 1,630 sqft
    2022-02-01 0 days 1,663 sqft
    2022-03-01 0 days 1,756 sqft
    2022-04-01 0 days 1,623 sqft
    2022-05-01 0 days 1,648 sqft
    2022-06-01 0 days 1,712 sqft
    2022-07-01 0 days 1,697 sqft
    2022-08-01 0 days 1,748 sqft
    2022-09-01 0 days 1,678 sqft
    2022-10-01 0 days 1,680 sqft
    2022-11-01 0 days 1,673 sqft
    2022-12-01 0 days 1,752 sqft
    2023-01-01 0 days 1,749 sqft
    2023-02-01 0 days 1,796 sqft
    2023-03-01 0 days 1,774 sqft
    2023-04-01 0 days 1,616 sqft
    2023-05-01 0 days 1,748 sqft
    2023-06-01 0 days 1,741 sqft
    2023-07-01 0 days 1,686 sqft
    2023-08-01 0 days 1,724 sqft
    2023-09-01 0 days 1,716 sqft
    2023-10-01 0 days 1,660 sqft
    2023-11-01 0 days 1,646 sqft
    2023-12-01 0 days 1,606 sqft
    2024-01-01 0 days 1,608 sqft
    2024-02-01 0 days 1,640 sqft
    2024-03-01 0 days 1,653 sqft
    Clarksburg's median listing age (time on market) for 2024-03-01 was 0 days.

    Clarksburg's median square footage for active listings during the 2024-03-01 period was 1,653 sqft. One year prior, the average listing was 1,774 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).