Parkersburg FHA Loan Rates, Closing Costs & Stats

PARKERSBURG-VIENNA, 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.

    Parkersburg's 33 lenders originated 274 FHA loans during 2023. The total origination value was $40,730,000, with an average FHA loan value of $148,650.

    Parkersburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Parkersburg averaged 6.8% for the week of 2024-05-03, compared to the national average (all FHA variants) of 6.894% for the same period.

    Parkersburg's average FHA mortgage closing costs are $6,198.

    The average rate for the prior week (2024-04-26) was 6.58% and one month ago for the week of 2024-03-29, the average rate was 6.36%.

    The average rate one year ago was 6.18%.

    For refis of the same type during the week of 2024-05-03, the average rate was 6.69%.

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

    Parkersburg 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 Parkersburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MOVEMENT MORTGAGE, LLC 56 5.99% $6,934
    PRIMELENDING, A PLAINSCAPITAL COMPANY 50 6.27% $7,003
    QUICKEN LOANS, LLC 22 6.25% $7,993
    WesBanco 21 5.68% $6,785
    The Huntington National Bank 17 6.22% $7,928
    POLARIS HOME FUNDING CORP. 16 6.77% $8,135
    Flagstar Bank, FSB 11 6.43% $7,322
    LOANDEPOT.COM, LLC 10 6.27% $7,186
    Peoples Bank 8 6.42% $7,700
    UNITED WHOLESALE MORTGAGE, LLC 7 6.50% $10,036
    AMERICAN FINANCIAL RESOURCES, INC. 6 6.73% $8,398
    BROKER SOLUTIONS, INC. 5 6.90% $10,704
    Mortgage Research Center, LLC 4 7.16% $6,945
    FREEDOM MORTGAGE CORPORATION 3 7.50% $8,804
    Nations Lending Corporation 2 7.50% $6,172
    Gateway First Bank 2 7.25% $4,564
    INTERCOASTAL MORTGAGE COMPANY 2 5.32% $6,416
    JPMorgan Chase Bank 2 6.94% $3,165
    Carrington Mortgage Services, LLC 2 6.69% $10,616
    CROSSCOUNTRY MORTGAGE, LLC 2 7.00% $7,835
    PLANET HOME LENDING, LLC 2 5.68% $7,353
    AMERISAVE MORTGAGE CORPORATION 2 6.00% $8,701
    PHH Mortgage Corporation 1 6.75% $11,160
    Victorian Finance, LLC 1 7.13% $8,415
    Mr. Cooper ( Nationstar Mortgage ) 1 6.50% $13,440
    MEMBER FIRST MORTGAGE, LLC 1 7.13% $6,138
    DAS Acquisition Company, LLC 1 6.13% $5,624
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $8,737
    Truist 1 6.70% $4,952
    UNION HOME MORTGAGE CORP. 1 6.63% $6,408
    GUARANTEED RATE, INC. 1 5.68% $7,049
    Paramount Residential Mortgage Group, Inc. 1 7.25% $8,643
    NORWICH COMMERCIAL GROUP, INC. 1 6.75% $10,010

    The top Parkersburg FHA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 56 FHA loans originated. Their average total fees are $6,934, which is $68 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

    The lowest fee Parkersburg FHA lenders (with over 10 loans originated) are WesBanco ($6,785), MOVEMENT MORTGAGE, LLC ($6,934), PRIMELENDING, A PLAINSCAPITAL COMPANY ($7,003), LOANDEPOT.COM, LLC ($7,186) and Flagstar Bank, FSB ($7,322).

    The lowest rate Parkersburg FHA lenders (with over 10 loans originated) are WesBanco (5.68%), MOVEMENT MORTGAGE, LLC (5.99%), The Huntington National Bank (6.22%), QUICKEN LOANS, LLC (6.25%) and LOANDEPOT.COM, LLC (6.27%).

    Parkersburg FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    PARKERSBURG-VIENNA, WV WIRT 2022 $420,680 $538,650 $651,050 $809,150
    PARKERSBURG-VIENNA, WV WOOD 2022 $420,680 $538,650 $651,050 $809,150
    PARKERSBURG-VIENNA, WV WIRT 2023 $472,030 $604,400 $730,525 $907,900
    PARKERSBURG-VIENNA, WV WOOD 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Parkersburg (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 $136,700 (7.7%) $188,193 (4.8%) 0.00 281
    2018-02-01 $130,450 (2.7%) $191,111 (5.4%) 0.00 258
    2018-03-01 $129,900 (0.0%) $197,101 (10.2%) 0.00 255
    2018-04-01 $134,000 (3.1%) $206,000 (16.4%) 0.00 268
    2018-05-01 $136,400 (2.2%) $208,144 (21.1%) 0.00 269
    2018-06-01 $145,000 (7.4%) $194,376 (11.4%) 0.00 275
    2018-07-01 $147,000 (5.8%) $190,651 (7.8%) 0.00 293
    2018-08-01 $143,500 (2.7%) $187,137 (-8.7%) 0.00 298
    2018-09-01 $139,900 (-1.8%) $187,922 (-9.3%) 0.00 290
    2018-10-01 $140,175 (3.1%) $207,719 (2.9%) 0.00 290
    2018-11-01 $139,225 (0.3%) $225,997 (9.2%) 0.00 281
    2018-12-01 $135,000 (-0.4%) $229,557 (22.4%) 0.00 281
    2019-01-01 $136,950 (0.2%) $237,107 (26.0%) 0.00 269
    2019-02-01 $135,000 (3.5%) $239,838 (25.5%) 0.00 259
    2019-03-01 $141,121 (8.6%) $223,934 (13.6%) 0.00 240
    2019-04-01 $149,450 (11.5%) $202,464 (-1.7%) 0.00 216
    2019-05-01 $149,950 (9.9%) $194,031 (-6.8%) 0.00 215
    2019-06-01 $150,000 (3.5%) $196,075 (0.9%) 0.00 228
    2019-07-01 $149,950 (2.0%) $192,281 (0.9%) 0.00 270
    2019-08-01 $150,432 (4.8%) $201,286 (7.6%) 0.00 285
    2019-09-01 $154,830 (10.7%) $218,795 (16.4%) 0.00 295
    2019-10-01 $158,600 (13.1%) $213,897 (3.0%) 0.00 302
    2019-11-01 $158,900 (14.1%) $201,398 (-10.9%) 0.00 291
    2019-12-01 $150,000 (11.1%) $196,275 (-14.5%) 0.00 287
    2020-01-01 $155,625 (13.6%) $226,659 (-4.4%) 0.00 276
    2020-02-01 $152,500 (13.0%) $223,356 (-6.9%) 0.00 275
    2020-03-01 $153,250 (8.6%) $222,793 (-0.5%) 0.00 257
    2020-04-01 $154,725 (3.5%) $221,719 (9.5%) 0.00 244
    2020-05-01 $155,750 (3.9%) $222,412 (14.6%) 0.00 226
    2020-06-01 $149,700 (-0.2%) $193,329 (-1.4%) 0.00 208
    2020-07-01 $153,425 (2.3%) $196,152 (2.0%) 0.00 180
    2020-08-01 $164,000 (9.0%) $199,152 (-1.1%) 0.00 172
    2020-09-01 $155,450 (0.4%) $194,549 (-11.1%) 0.00 183
    2020-10-01 $159,900 (0.8%) $202,648 (-5.3%) 0.00 183
    2020-11-01 $159,950 (0.7%) $224,768 (11.6%) 0.00 173
    2020-12-01 $167,100 (11.4%) $229,329 (16.8%) 0.00 166
    2021-01-01 $168,500 (8.3%) $222,759 (-1.7%) 0.00 158
    2021-02-01 $149,375 (-2.1%) $219,325 (-1.8%) 0.00 134
    2021-03-01 $149,000 (-2.8%) $227,436 (2.1%) 0.00 112
    2021-04-01 $151,950 (-1.8%) $228,783 (3.2%) 0.00 103
    2021-05-01 $165,000 (5.9%) $241,655 (8.7%) 0.00 102
    2021-06-01 $171,500 (14.6%) $243,760 (26.1%) 0.00 105
    2021-07-01 $168,000 (9.5%) $318,801 (62.5%) 0.00 136
    2021-08-01 $159,000 (-3.1%) $286,081 (43.7%) 0.00 150
    2021-09-01 $159,675 (2.7%) $298,279 (53.3%) 0.00 148
    2021-10-01 $159,000 (-0.6%) $296,773 (46.5%) 0.00 134
    2021-11-01 $159,000 (-0.6%) $289,009 (28.6%) 0.00 135
    2021-12-01 $154,450 (-7.6%) $282,177 (23.0%) 0.00 124
    2022-01-01 $154,900 (-8.1%) $308,037 (38.3%) 0.00 95
    2022-02-01 $157,400 (5.4%) $348,046 (58.7%) 0.00 73
    2022-03-01 $157,225 (5.5%) $340,794 (49.8%) 0.00 71
    2022-04-01 $169,000 (11.2%) $366,670 (60.3%) 0.00 73
    2022-05-01 $201,225 (22.0%) $313,297 (29.7%) 0.00 88
    2022-06-01 $184,500 (7.6%) $273,467 (12.2%) 0.00 113
    2022-07-01 $185,000 (10.1%) $278,303 (-12.7%) 0.00 124
    2022-08-01 $189,000 (18.9%) $272,709 (-4.7%) 0.00 136
    2022-09-01 $186,000 (16.5%) $260,986 (-12.5%) 0.00 131
    2022-10-01 $185,000 (16.4%) $249,808 (-15.8%) 0.00 136
    2022-11-01 $189,000 (18.9%) $256,239 (-11.3%) 0.00 136
    2022-12-01 $177,000 (14.6%) $248,897 (-11.8%) 0.00 126
    2023-01-01 $164,000 (5.9%) $257,437 (-16.4%) 0.00 108
    2023-02-01 $180,000 (14.4%) $265,171 (-23.8%) 0.00 102
    2023-03-01 $188,725 (20.0%) $257,330 (-24.5%) 0.00 107
    2023-04-01 $195,000 (15.4%) $267,283 (-27.1%) 0.00 104
    2023-05-01 $205,000 (1.9%) $276,928 (-11.6%) 0.00 105
    2023-06-01 $209,475 (13.5%) $280,263 (2.5%) 0.00 113
    2023-07-01 $206,250 (11.5%) $268,525 (-3.5%) 0.00 120
    2023-08-01 $194,250 (2.8%) $252,738 (-7.3%) 0.00 128
    2023-09-01 $189,000 (1.6%) $248,457 (-4.8%) 0.00 125
    2023-10-01 $181,975 (-1.6%) $241,305 (-3.4%) 0.00 135
    2023-11-01 $194,725 (3.0%) $244,018 (-4.8%) 0.00 135
    2023-12-01 $190,000 (7.3%) $226,889 (-8.8%) 0.00 137
    2024-01-01 $202,250 (23.3%) $233,899 (-9.1%) 0.00 128
    2024-02-01 $218,725 (21.5%) $248,572 (-6.3%) 0.00 110
    2024-03-01 $225,000 (19.2%) $271,610 (5.6%) 0.00 124
    2024-04-01 $222,500 (14.1%) $263,579 (-1.4%) 0.00 122
    Parkersburg's median listing price for 2024-04-01 was $222,500, a difference of $27,500 (14.1%) versus the prior year and $-2,500 versus the prior month.

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

    Parkersburg's average listing price for 2024-04-01 was $263,579, a difference of $-3,704 (-1.4%) versus the prior year and $-8,031 versus the prior month.

    For the 2024-04-01 period, Parkersburg had 122 MLS listings, a difference of -2 listings (-2%) versus the prior month and 18 listings (17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Parkersburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,595 sqft
    2018-02-01 0 days 1,594 sqft
    2018-03-01 0 days 1,566 sqft
    2018-04-01 0 days 1,629 sqft
    2018-05-01 0 days 1,603 sqft
    2018-06-01 0 days 1,668 sqft
    2018-07-01 0 days 1,859 sqft
    2018-08-01 0 days 1,823 sqft
    2018-09-01 0 days 1,840 sqft
    2018-10-01 0 days 1,850 sqft
    2018-11-01 0 days 1,859 sqft
    2018-12-01 0 days 1,815 sqft
    2019-01-01 0 days 1,859 sqft
    2019-02-01 0 days 1,880 sqft
    2019-03-01 0 days 1,905 sqft
    2019-04-01 0 days 1,928 sqft
    2019-05-01 0 days 1,694 sqft
    2019-06-01 0 days 1,748 sqft
    2019-07-01 0 days 1,751 sqft
    2019-08-01 0 days 1,782 sqft
    2019-09-01 0 days 1,801 sqft
    2019-10-01 0 days 1,813 sqft
    2019-11-01 0 days 1,800 sqft
    2019-12-01 0 days 1,808 sqft
    2020-01-01 0 days 1,798 sqft
    2020-02-01 0 days 1,829 sqft
    2020-03-01 0 days 1,836 sqft
    2020-04-01 0 days 1,855 sqft
    2020-05-01 0 days 1,833 sqft
    2020-06-01 0 days 1,832 sqft
    2020-07-01 0 days 1,828 sqft
    2020-08-01 0 days 1,840 sqft
    2020-09-01 0 days 1,773 sqft
    2020-10-01 0 days 1,828 sqft
    2020-11-01 0 days 1,843 sqft
    2020-12-01 0 days 1,890 sqft
    2021-01-01 0 days 1,844 sqft
    2021-02-01 0 days 1,698 sqft
    2021-03-01 0 days 1,716 sqft
    2021-04-01 0 days 1,770 sqft
    2021-05-01 0 days 1,808 sqft
    2021-06-01 0 days 1,893 sqft
    2021-07-01 0 days 1,774 sqft
    2021-08-01 0 days 1,719 sqft
    2021-09-01 0 days 1,818 sqft
    2021-10-01 0 days 1,773 sqft
    2021-11-01 0 days 1,794 sqft
    2021-12-01 0 days 1,749 sqft
    2022-01-01 0 days 1,698 sqft
    2022-02-01 0 days 1,655 sqft
    2022-03-01 0 days 1,816 sqft
    2022-04-01 0 days 1,826 sqft
    2022-05-01 0 days 1,839 sqft
    2022-06-01 0 days 1,834 sqft
    2022-07-01 0 days 1,843 sqft
    2022-08-01 0 days 1,917 sqft
    2022-09-01 0 days 1,908 sqft
    2022-10-01 0 days 1,858 sqft
    2022-11-01 0 days 2,003 sqft
    2022-12-01 0 days 1,904 sqft
    2023-01-01 0 days 1,804 sqft
    2023-02-01 0 days 1,748 sqft
    2023-03-01 0 days 1,826 sqft
    2023-04-01 0 days 1,840 sqft
    2023-05-01 0 days 1,839 sqft
    2023-06-01 0 days 1,884 sqft
    2023-07-01 0 days 1,856 sqft
    2023-08-01 0 days 1,853 sqft
    2023-09-01 0 days 1,792 sqft
    2023-10-01 0 days 1,642 sqft
    2023-11-01 0 days 1,825 sqft
    2023-12-01 0 days 1,844 sqft
    2024-01-01 0 days 1,911 sqft
    2024-02-01 0 days 2,057 sqft
    2024-03-01 0 days 2,201 sqft
    2024-04-01 0 days 2,170 sqft
    Parkersburg's median listing age (time on market) for 2024-04-01 was 0 days.

    Parkersburg's median square footage for active listings during the 2024-04-01 period was 2,170 sqft. One year prior, the average listing was 1,840 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).