Morgantown FHA Loan Rates, Closing Costs & Stats

MORGANTOWN, 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.

    Morgantown's 46 lenders originated 222 FHA loans during 2024. The total origination value was $48,780,000, with an average FHA loan value of $219,730.

    Morgantown FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Morgantown averaged 6.89% for the week of 2025-05-23, compared to the national average (all FHA variants) of 6.612% for the same period.

    Morgantown's average FHA mortgage closing costs are $7,696.

    The average rate for the prior week (2025-05-16) was 6.62% and one month ago for the week of 2025-04-18, the average rate was 6.54%.

    The average rate one year ago was 6.92%.

    For refis of the same type during the week of 2025-05-23, the average rate was 7.15%.

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

    Morgantown 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 Morgantown level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    The Huntington National Bank 24 6.35% $8,012
    LOANDEPOT.COM, LLC 22 6.22% $9,792
    QUICKEN LOANS, LLC 17 6.50% $9,616
    UNITED WHOLESALE MORTGAGE, LLC 16 6.30% $12,322
    INTERCOASTAL MORTGAGE COMPANY 14 6.52% $7,909
    CROSSCOUNTRY MORTGAGE, LLC 11 6.60% $10,737
    WesBanco 11 6.19% $7,706
    First National Bank of Pennsylvania 8 6.39% $9,325
    FREEDOM MORTGAGE CORPORATION 6 6.81% $12,488
    Flagstar Bank, FSB 5 6.52% $8,722
    Mortgage Research Center, LLC 4 6.81% $6,831
    NVR Mortgage Finance, Inc. 4 6.22% $18,926
    PNC Bank 4 6.59% $8,405
    UNION HOME MORTGAGE CORP. 4 6.50% $7,538
    DAS Acquisition Company, LLC 3 6.79% $14,489
    Truist 3 6.58% $7,443
    GUARANTEED RATE, INC. 3 6.87% $6,347
    BROKER SOLUTIONS, INC. 3 6.92% $8,053
    AMERICAN FINANCING CORPORATION 2 5.75% $10,825
    BAYSHORE MORTGAGE FUNDING, LLC 2 6.44% $11,512
    Integrity Home Mortgage Corp 2 6.00% $9,338
    PLAZA HOME MORTGAGE, INC. 2 6.62% $8,973
    Carrington Mortgage Services, LLC 2 6.63% $11,893
    Mr. Cooper ( Nationstar Mortgage ) 2 6.25% $4,269
    NEWREZ LLC 2 6.44% $11,519
    MY MORTGAGE, INC. 2 6.56% $10,535
    SUN WEST MORTGAGE COMPANY, INC. 2 6.88% $8,961
    MILLENNIUM FINANCIAL GROUP, INC. 1 6.50% $11,938
    Atlantic Coast Mortgage, LLC 1 6.63% $7,468
    Barrington Bank & Trust Company, N.A. 1 6.75% $6,492
    BAY CAPITAL MORTGAGE CORPORATION 1 5.99% $13,048
    C & F Mortgage Corporation 1 6.13% $7,029
    CMG MORTGAGE, INC. 1 6.25% $13,465
    CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 5.50% $8,416
    DHI MORTGAGE COMPANY, LTD. 1 6.75% $8,424
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.75% $7,142
    HOMESPIRE MORTGAGE CORPORATION 1 5.64% $5,898
    AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $14,134
    MLD MORTGAGE INC. 1 5.99% $17,060
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.25% $6,804
    NFM, INC. 1 7.25% $7,487
    POLARIS HOME FUNDING CORP. 1 6.63% $13,010
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 1 6.25% $5,264
    STOCKTON MORTGAGE CORPORATION 1 6.75% $12,272
    United Bank 1 6.63% $12,054
    ZILLOW HOME LOANS, LLC 1 6.63% $9,736

    The top Morgantown FHA lender as defined by loan originations is The Huntington National Bank, with 24 FHA loans originated. Their average total fees are $8,012, which is $1,780 lower than the next largest lender, LOANDEPOT.COM, LLC.

    The lowest fee Morgantown FHA lenders (with over 10 loans originated) are WesBanco ($7,706), INTERCOASTAL MORTGAGE COMPANY ($7,909), The Huntington National Bank ($8,012), QUICKEN LOANS, LLC ($9,616) and LOANDEPOT.COM, LLC ($9,792).

    The lowest rate Morgantown FHA lenders (with over 10 loans originated) are WesBanco (6.19%), LOANDEPOT.COM, LLC (6.22%), UNITED WHOLESALE MORTGAGE, LLC (6.30%), The Huntington National Bank (6.35%) and QUICKEN LOANS, LLC (6.50%).

    Morgantown FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Morgantown (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 $215,000 (0.0%) $289,171 (3.6%) 0.80 582
    2018-02-01 $222,450 (4.2%) $299,553 (8.4%) 0.81 540
    2018-03-01 $240,000 (11.8%) $315,622 (13.4%) 0.84 496
    2018-04-01 $244,725 (8.8%) $317,418 (9.4%) 0.83 527
    2018-05-01 $246,500 (7.2%) $314,328 (5.8%) 0.82 567
    2018-06-01 $239,900 (4.5%) $305,747 (1.6%) 0.80 591
    2018-07-01 $239,700 (4.3%) $298,521 (-2.6%) 0.80 614
    2018-08-01 $237,000 (3.5%) $304,234 (0.6%) 0.79 616
    2018-09-01 $241,500 (9.8%) $305,047 (1.0%) 0.81 634
    2018-10-01 $241,825 (10.2%) $305,567 (4.3%) 0.82 627
    2018-11-01 $241,250 (12.2%) $303,246 (4.9%) 0.82 596
    2018-12-01 $239,900 (11.4%) $298,427 (3.0%) 0.83 549
    2019-01-01 $244,425 (13.7%) $308,918 (6.8%) 0.84 497
    2019-02-01 $240,450 (8.1%) $313,040 (4.5%) 0.81 493
    2019-03-01 $251,285 (4.7%) $321,396 (1.8%) 0.82 490
    2019-04-01 $263,236 (7.6%) $326,900 (3.0%) 0.84 496
    2019-05-01 $266,700 (8.2%) $327,026 (4.0%) 0.83 546
    2019-06-01 $259,900 (8.3%) $321,956 (5.3%) 0.81 571
    2019-07-01 $259,999 (8.5%) $323,144 (8.3%) 0.81 592
    2019-08-01 $265,355 (12.0%) $322,333 (6.0%) 0.84 601
    2019-09-01 $262,286 (8.6%) $320,270 (5.0%) 0.84 615
    2019-10-01 $259,950 (7.5%) $318,763 (4.3%) 0.84 623
    2019-11-01 $255,000 (5.7%) $306,472 (1.1%) 0.84 589
    2019-12-01 $252,350 (5.2%) $300,286 (0.6%) 0.84 557
    2020-01-01 $257,000 (5.1%) $307,763 (-0.4%) 0.86 479
    2020-02-01 $267,200 (11.1%) $321,663 (2.8%) 0.87 468
    2020-03-01 $274,950 (9.4%) $346,650 (7.9%) 0.86 465
    2020-04-01 $275,250 (4.6%) $346,196 (5.9%) 0.86 465
    2020-05-01 $294,000 (10.2%) $355,545 (8.7%) 0.89 427
    2020-06-01 $291,475 (12.2%) $363,625 (12.9%) 0.86 395
    2020-07-01 $284,500 (9.4%) $360,068 (11.4%) 0.82 379
    2020-08-01 $279,000 (5.1%) $364,541 (13.1%) 0.80 376
    2020-09-01 $277,000 (5.6%) $369,635 (15.4%) 0.79 364
    2020-10-01 $273,950 (5.4%) $364,458 (14.3%) 0.79 359
    2020-11-01 $271,475 (6.5%) $353,273 (15.3%) 0.79 326
    2020-12-01 $272,500 (8.0%) $354,430 (18.0%) 0.81 296
    2021-01-01 $276,250 (7.5%) $347,731 (13.0%) 0.82 261
    2021-02-01 $276,970 (3.7%) $337,124 (4.8%) 0.81 234
    2021-03-01 $294,850 (7.2%) $369,605 (6.6%) 0.84 208
    2021-04-01 $304,900 (10.8%) $385,071 (11.2%) 0.83 201
    2021-05-01 $299,900 (2.0%) $396,293 (11.5%) 0.80 192
    2021-06-01 $307,948 (5.7%) $407,556 (12.1%) 0.81 205
    2021-07-01 $285,000 (0.2%) $386,960 (7.5%) 0.75 227
    2021-08-01 $275,000 (-1.4%) $379,581 (4.1%) 0.73 222
    2021-09-01 $259,900 (-6.2%) $359,874 (-2.6%) 0.69 236
    2021-10-01 $264,900 (-3.3%) $351,875 (-3.5%) 0.71 229
    2021-11-01 $272,250 (0.3%) $355,283 (0.6%) 0.73 221
    2021-12-01 $285,725 (4.9%) $356,760 (0.7%) 0.77 188
    2022-01-01 $288,450 (4.4%) $347,000 (-0.2%) 0.78 137
    2022-02-01 $286,000 (3.3%) $370,019 (9.8%) 0.74 123
    2022-03-01 $299,900 (1.7%) $397,908 (7.7%) 0.75 136
    2022-04-01 $299,950 (-1.6%) $406,376 (5.5%) 0.72 130
    2022-05-01 $292,875 (-2.3%) $395,725 (-0.1%) 0.67 158
    2022-06-01 $280,375 (-9.0%) $381,518 (-6.4%) 0.62 176
    2022-07-01 $280,000 (-1.8%) $383,635 (-0.9%) 0.63 189
    2022-08-01 $277,225 (0.8%) $355,441 (-6.4%) 0.64 211
    2022-09-01 $274,725 (5.7%) $353,700 (-1.7%) 0.64 218
    2022-10-01 $280,000 (5.7%) $380,759 (8.2%) 0.66 217
    2022-11-01 $280,000 (2.9%) $396,276 (11.5%) 0.67 213
    2022-12-01 $294,000 (2.9%) $411,661 (15.4%) 0.73 194
    2023-01-01 $301,900 (4.7%) $441,633 (27.3%) 0.75 180
    2023-02-01 $299,215 (4.6%) $450,322 (21.7%) 0.72 165
    2023-03-01 $304,245 (1.5%) $472,467 (18.7%) 0.72 158
    2023-04-01 $315,000 (5.0%) $504,089 (24.0%) 0.73 172
    2023-05-01 $310,495 (6.0%) $475,609 (20.2%) 0.70 200
    2023-06-01 $322,998 (15.2%) $474,564 (24.4%) 0.73 209
    2023-07-01 $320,995 (14.6%) $468,837 (22.2%) 0.73 207
    2023-08-01 $304,718 (9.9%) $450,058 (26.6%) 0.70 228
    2023-09-01 $315,000 (14.7%) $435,332 (23.1%) 0.73 252
    2023-10-01 $303,495 (8.4%) $413,832 (8.7%) 0.71 257
    2023-11-01 $299,973 (7.1%) $401,324 (1.3%) 0.71 255
    2023-12-01 $317,000 (7.8%) $410,177 (-0.4%) 0.77 229
    2024-01-01 $325,000 (7.7%) $423,813 (-4.0%) 0.79 197
    2024-02-01 $329,500 (10.1%) $422,913 (-6.1%) 0.79 183
    2024-03-01 $330,000 (8.5%) $435,823 (-7.8%) 0.78 202
    2024-04-01 $326,975 (3.8%) $439,049 (-12.9%) 0.76 234
    2024-05-01 $362,000 (16.6%) $458,202 (-3.7%) 0.82 237
    2024-06-01 $355,000 (9.9%) $451,939 (-4.8%) 0.81 260
    2024-07-01 $339,250 (5.7%) $444,387 (-5.2%) 0.78 252
    2024-08-01 $325,000 (6.7%) $427,157 (-5.1%) 0.76 243
    2024-09-01 $311,738 (-1.0%) $411,039 (-5.6%) 0.73 253
    2024-10-01 $317,809 (4.7%) $414,794 (0.2%) 0.75 265
    2024-11-01 $325,000 (8.3%) $401,126 (-0.1%) 0.78 237
    2024-12-01 $327,500 (3.3%) $399,572 (-2.6%) 0.81 214
    2025-01-01 $330,500 (1.7%) $406,256 (-4.1%) 0.83 194
    2025-02-01 $332,750 (1.0%) $404,526 (-4.4%) 0.81 165
    2025-03-01 $349,950 (6.1%) $412,003 (-5.5%) 0.82 161
    2025-04-01 $353,200 (8.0%) $423,122 (-3.6%) 0.82 185
    Morgantown's median listing price for 2025-04-01 was $353,200, a difference of $26,225 (8.0%) versus the prior year and $3,250 versus the prior month.

    Morgantown's median listing price comes in at 82% of the national average.

    Morgantown's average listing price for 2025-04-01 was $423,122, a difference of $-15,927 (-3.6%) versus the prior year and $11,119 versus the prior month.

    For the 2025-04-01 period, Morgantown had 185 MLS listings, a difference of 24 listings (15%) versus the prior month and -49 listings (-21%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Morgantown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 118 days 1,965 sqft
    2018-02-01 121 days 1,958 sqft
    2018-03-01 121 days 2,059 sqft
    2018-04-01 80 days 2,044 sqft
    2018-05-01 66 days 1,999 sqft
    2018-06-01 67 days 1,983 sqft
    2018-07-01 71 days 1,974 sqft
    2018-08-01 78 days 1,976 sqft
    2018-09-01 87 days 1,976 sqft
    2018-10-01 86 days 2,001 sqft
    2018-11-01 91 days 1,945 sqft
    2018-12-01 103 days 1,902 sqft
    2019-01-01 109 days 1,899 sqft
    2019-02-01 114 days 1,897 sqft
    2019-03-01 95 days 1,963 sqft
    2019-04-01 68 days 2,013 sqft
    2019-05-01 60 days 2,049 sqft
    2019-06-01 71 days 2,016 sqft
    2019-07-01 75 days 2,032 sqft
    2019-08-01 81 days 2,040 sqft
    2019-09-01 84 days 2,017 sqft
    2019-10-01 87 days 1,998 sqft
    2019-11-01 96 days 1,985 sqft
    2019-12-01 111 days 1,941 sqft
    2020-01-01 123 days 2,005 sqft
    2020-02-01 117 days 2,076 sqft
    2020-03-01 76 days 2,216 sqft
    2020-04-01 74 days 2,182 sqft
    2020-05-01 80 days 2,211 sqft
    2020-06-01 84 days 2,241 sqft
    2020-07-01 65 days 2,165 sqft
    2020-08-01 58 days 2,152 sqft
    2020-09-01 65 days 2,158 sqft
    2020-10-01 74 days 2,100 sqft
    2020-11-01 89 days 2,075 sqft
    2020-12-01 87 days 1,942 sqft
    2021-01-01 89 days 2,005 sqft
    2021-02-01 84 days 1,975 sqft
    2021-03-01 75 days 2,126 sqft
    2021-04-01 60 days 2,100 sqft
    2021-05-01 52 days 2,205 sqft
    2021-06-01 52 days 2,121 sqft
    2021-07-01 50 days 1,982 sqft
    2021-08-01 52 days 1,945 sqft
    2021-09-01 57 days 1,863 sqft
    2021-10-01 57 days 1,875 sqft
    2021-11-01 66 days 1,875 sqft
    2021-12-01 73 days 1,821 sqft
    2022-01-01 80 days 1,821 sqft
    2022-02-01 78 days 1,856 sqft
    2022-03-01 50 days 1,932 sqft
    2022-04-01 45 days 1,892 sqft
    2022-05-01 47 days 1,921 sqft
    2022-06-01 46 days 1,880 sqft
    2022-07-01 50 days 1,825 sqft
    2022-08-01 52 days 1,783 sqft
    2022-09-01 53 days 1,818 sqft
    2022-10-01 65 days 1,856 sqft
    2022-11-01 66 days 1,874 sqft
    2022-12-01 78 days 1,890 sqft
    2023-01-01 79 days 1,888 sqft
    2023-02-01 87 days 1,885 sqft
    2023-03-01 77 days 1,860 sqft
    2023-04-01 50 days 1,940 sqft
    2023-05-01 46 days 1,919 sqft
    2023-06-01 50 days 1,915 sqft
    2023-07-01 52 days 1,940 sqft
    2023-08-01 55 days 1,948 sqft
    2023-09-01 54 days 1,940 sqft
    2023-10-01 60 days 1,929 sqft
    2023-11-01 65 days 1,940 sqft
    2023-12-01 73 days 1,940 sqft
    2024-01-01 85 days 1,957 sqft
    2024-02-01 85 days 1,940 sqft
    2024-03-01 58 days 1,951 sqft
    2024-04-01 45 days 1,961 sqft
    2024-05-01 46 days 2,134 sqft
    2024-06-01 49 days 2,130 sqft
    2024-07-01 60 days 2,048 sqft
    2024-08-01 66 days 1,988 sqft
    2024-09-01 63 days 1,827 sqft
    2024-10-01 61 days 1,839 sqft
    2024-11-01 64 days 1,848 sqft
    2024-12-01 77 days 1,948 sqft
    2025-01-01 86 days 2,001 sqft
    2025-02-01 78 days 1,919 sqft
    2025-03-01 52 days 1,947 sqft
    2025-04-01 38 days 2,013 sqft
    Morgantown's median listing age (time on market) for 2025-04-01 was 38 days. This is -16% shorter than the same period one year ago.

    Morgantown's median square footage for active listings during the 2025-04-01 period was 2,013 sqft. One year prior, the average listing was 1,961 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).