Point Pleasant FHA Loan Rates, Closing Costs & Stats

Point Pleasant, WV-OH

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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.

    Point Pleasant's 32 lenders originated 87 FHA loans during 2023. The total origination value was $13,495,000, with an average FHA loan value of $155,115.

    Point Pleasant FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Point Pleasant averaged 6.44% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Point Pleasant's average FHA mortgage closing costs are $6,354.

    The average rate for the prior week (2024-12-06) was 6.3% and one month ago for the week of 2024-11-08, the average rate was 6.57%.

    The average rate one year ago was 6.88%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.38%.

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

    Point Pleasant 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 Point Pleasant level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MOVEMENT MORTGAGE, LLC 13 6.98% $7,967
    QUICKEN LOANS, LLC 11 6.21% $8,211
    RAPID MORTGAGE COMPANY 8 7.02% $9,350
    Victorian Finance, LLC 6 6.57% $7,367
    WesBanco 3 5.92% $6,678
    Equity Prime Mortgage LLC 3 7.33% $7,422
    LOANDEPOT.COM, LLC 3 6.19% $8,424
    Paramount Residential Mortgage Group, Inc. 3 6.71% $9,710
    UNITED WHOLESALE MORTGAGE, LLC 2 6.12% $8,703
    NEWREZ LLC 2 6.25% $8,900
    RUOFF MORTGAGE COMPANY, INC. 2 6.25% $5,740
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $8,193
    Nations Lending Corporation 1 7.75% $8,245
    AmRes Corporation 1 6.75% $7,572
    NBKC BANK 1 5.63% $9,300
    NFM, INC. 1 7.25% $8,759
    PENNYMAC LOAN SERVICES, LLC 1 5.75% $10,166
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.99% $22,820
    STOCKTON MORTGAGE CORPORATION 1 6.75% $7,646
    The Union Bank Company 1 6.13% $8,783
    UNION HOME MORTGAGE CORP. 1 7.50% $7,892
    NATIONS RELIABLE LENDING, LLC 1 7.13% $16,290
    BROKER SOLUTIONS, INC. 1 6.25% $6,993
    CARDINAL FINANCIAL 1 5.63% $10,288
    Carrington Mortgage Services, LLC 1 5.63% $11,316
    CROSSCOUNTRY MORTGAGE, LLC 1 7.75% $10,182
    DAS Acquisition Company, LLC 1 7.13% $4,053
    EQUITY RESOURCES, INC. 1 6.75% $8,579
    FREEDOM MORTGAGE CORPORATION 1 7.25% $12,213
    Gateway First Bank 1 7.75% $4,323
    INTERNATIONAL CITY MORTGAGE, INC. 1 6.63% $7,474
    LIBERTY HOME MORTGAGE CORPORATION 1 8.25% $7,440

    The top Point Pleasant FHA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 13 FHA loans originated. Their average total fees are $7,967, which is $244 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Point Pleasant FHA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($7,967), QUICKEN LOANS, LLC ($8,211), .

    The lowest rate Point Pleasant FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.21%), MOVEMENT MORTGAGE, LLC (6.98%), .

    Point Pleasant FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    POINT PLEASANT, WV-OH GALLIA 2022 $420,680 $538,650 $651,050 $809,150
    POINT PLEASANT, WV-OH MASON 2022 $420,680 $538,650 $651,050 $809,150
    POINT PLEASANT, WV-OH GALLIA 2023 $472,030 $604,400 $730,525 $907,900
    POINT PLEASANT, WV-OH MASON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Point Pleasant (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 $119,625 (4.1%) $164,910 (5.1%) 0.00 186
    2018-02-01 $124,950 (8.5%) $170,211 (7.9%) 0.00 187
    2018-03-01 $124,900 (7.3%) $161,456 (7.4%) 0.00 190
    2018-04-01 $122,250 (5.0%) $157,200 (5.9%) 0.00 199
    2018-05-01 $122,400 (5.1%) $167,921 (11.6%) 0.00 205
    2018-06-01 $125,580 (3.4%) $172,292 (14.7%) 0.00 218
    2018-07-01 $129,500 (9.8%) $180,636 (21.3%) 0.00 219
    2018-08-01 $129,900 (18.1%) $182,377 (28.3%) 0.00 221
    2018-09-01 $128,000 (11.3%) $182,358 (24.7%) 0.00 220
    2018-10-01 $123,475 (4.6%) $177,240 (19.0%) 0.00 215
    2018-11-01 $122,225 (3.0%) $178,350 (16.6%) 0.00 206
    2018-12-01 $125,000 (5.0%) $176,211 (13.3%) 0.00 191
    2019-01-01 $125,000 (4.5%) $176,456 (7.0%) 0.00 171
    2019-02-01 $127,000 (1.6%) $172,668 (1.4%) 0.00 173
    2019-03-01 $127,264 (1.9%) $177,500 (9.9%) 0.00 181
    2019-04-01 $125,889 (3.0%) $182,582 (16.2%) 0.00 184
    2019-05-01 $129,650 (5.9%) $182,212 (8.5%) 0.00 180
    2019-06-01 $129,900 (3.4%) $184,046 (6.8%) 0.00 178
    2019-07-01 $129,900 (0.3%) $185,977 (3.0%) 0.00 171
    2019-08-01 $128,482 (-1.1%) $181,779 (-0.3%) 0.00 172
    2019-09-01 $126,355 (-1.3%) $169,347 (-7.1%) 0.00 166
    2019-10-01 $124,936 (1.2%) $168,165 (-5.1%) 0.00 160
    2019-11-01 $119,900 (-1.9%) $171,308 (-4.0%) 0.00 160
    2019-12-01 $119,900 (-4.1%) $158,529 (-10.0%) 0.00 156
    2020-01-01 $122,200 (-2.2%) $167,343 (-5.2%) 0.00 144
    2020-02-01 $119,900 (-5.6%) $164,031 (-5.0%) 0.00 149
    2020-03-01 $118,750 (-6.7%) $159,456 (-10.2%) 0.00 149
    2020-04-01 $119,000 (-5.5%) $164,054 (-10.2%) 0.00 147
    2020-05-01 $124,900 (-3.7%) $172,151 (-5.5%) 0.00 131
    2020-06-01 $129,900 (0.0%) $181,893 (-1.2%) 0.00 130
    2020-07-01 $126,825 (-2.4%) $179,646 (-3.4%) 0.00 140
    2020-08-01 $129,000 (0.4%) $184,998 (1.8%) 0.00 125
    2020-09-01 $124,200 (-1.7%) $184,466 (8.9%) 0.00 103
    2020-10-01 $124,950 (0.0%) $191,731 (14.0%) 0.00 100
    2020-11-01 $125,925 (5.0%) $191,011 (11.5%) 0.00 89
    2020-12-01 $124,900 (4.2%) $194,003 (22.4%) 0.00 89
    2021-01-01 $117,000 (-4.3%) $167,306 (0.0%) 0.00 80
    2021-02-01 $126,900 (5.8%) $186,422 (13.7%) 0.00 62
    2021-03-01 $127,725 (7.6%) $188,608 (18.3%) 0.00 66
    2021-04-01 $129,450 (8.8%) $187,019 (14.0%) 0.00 66
    2021-05-01 $129,450 (3.6%) $210,341 (22.2%) 0.00 61
    2021-06-01 $149,925 (15.4%) $236,977 (30.3%) 0.00 62
    2021-07-01 $164,450 (29.7%) $304,810 (69.7%) 0.00 61
    2021-08-01 $152,963 (18.6%) $270,125 (46.0%) 0.00 59
    2021-09-01 $147,900 (19.1%) $233,548 (26.6%) 0.00 60
    2021-10-01 $156,975 (25.6%) $235,872 (23.0%) 0.00 67
    2021-11-01 $171,975 (36.6%) $256,440 (34.3%) 0.00 73
    2021-12-01 $154,200 (23.5%) $248,582 (28.1%) 0.00 70
    2022-01-01 $139,900 (19.6%) $247,218 (47.8%) 0.00 65
    2022-02-01 $154,000 (21.4%) $265,703 (42.5%) 0.00 62
    2022-03-01 $149,925 (17.4%) $299,501 (58.8%) 0.00 48
    2022-04-01 $175,950 (35.9%) $317,172 (69.6%) 0.00 43
    2022-05-01 $212,400 (64.1%) $334,828 (59.2%) 0.00 46
    2022-06-01 $197,000 (31.4%) $310,492 (31.0%) 0.00 59
    2022-07-01 $189,900 (15.5%) $294,381 (-3.4%) 0.00 77
    2022-08-01 $185,925 (21.6%) $284,229 (5.2%) 0.00 85
    2022-09-01 $168,225 (13.7%) $267,622 (14.6%) 0.00 78
    2022-10-01 $159,900 (1.9%) $250,834 (6.3%) 0.00 76
    2022-11-01 $168,475 (-2.0%) $260,608 (1.6%) 0.00 80
    2022-12-01 $182,450 (18.3%) $275,326 (10.8%) 0.00 77
    2023-01-01 $181,725 (29.9%) $275,555 (11.5%) 0.00 68
    2023-02-01 $191,725 (24.5%) $275,859 (3.8%) 0.00 63
    2023-03-01 $214,200 (42.9%) $289,655 (-3.3%) 0.00 65
    2023-04-01 $219,850 (25.0%) $298,988 (-5.7%) 0.00 51
    2023-05-01 $229,900 (8.2%) $315,369 (-5.8%) 0.00 55
    2023-06-01 $224,875 (14.2%) $306,096 (-1.4%) 0.00 61
    2023-07-01 $249,000 (31.1%) $305,752 (3.9%) 0.00 61
    2023-08-01 $229,283 (23.3%) $283,654 (-0.2%) 0.00 76
    2023-09-01 $239,450 (42.3%) $283,886 (6.1%) 0.00 70
    2023-10-01 $233,175 (45.8%) $285,231 (13.7%) 0.00 69
    2023-11-01 $219,875 (30.5%) $324,106 (24.4%) 0.00 61
    2023-12-01 $216,650 (18.7%) $277,956 (1.0%) 0.00 64
    2024-01-01 $219,900 (21.0%) $290,041 (5.3%) 0.00 51
    2024-02-01 $219,950 (14.7%) $248,748 (-9.8%) 0.00 52
    2024-03-01 $219,750 (2.6%) $285,575 (-1.4%) 0.00 54
    2024-04-01 $226,725 (3.1%) $278,629 (-6.8%) 0.00 52
    2024-05-01 $248,650 (8.2%) $289,405 (-8.2%) 0.00 65
    2024-06-01 $254,000 (13.0%) $293,614 (-4.1%) 0.00 76
    2024-07-01 $223,675 (-10.2%) $304,016 (-0.6%) 0.00 89
    2024-08-01 $237,200 (3.5%) $348,104 (22.7%) 0.00 84
    2024-09-01 $244,850 (2.3%) $385,787 (35.9%) 0.00 83
    2024-10-01 $228,600 (-2.0%) $354,636 (24.3%) 0.00 92
    2024-11-01 $214,900 (-2.3%) $329,382 (1.6%) 0.00 104
    Point Pleasant's median listing price for 2024-11-01 was $214,900, a difference of $-4,975 (-2.3%) versus the prior year and $-13,700 versus the prior month.

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

    Point Pleasant's average listing price for 2024-11-01 was $329,382, a difference of $5,276 (1.6%) versus the prior year and $-25,254 versus the prior month.

    For the 2024-11-01 period, Point Pleasant had 104 MLS listings, a difference of 12 listings (13%) versus the prior month and 43 listings (70%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Point Pleasant (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,708 sqft
    2018-02-01 0 days 1,769 sqft
    2018-03-01 0 days 1,703 sqft
    2018-04-01 0 days 1,656 sqft
    2018-05-01 0 days 1,634 sqft
    2018-06-01 0 days 1,664 sqft
    2018-07-01 0 days 1,679 sqft
    2018-08-01 0 days 1,661 sqft
    2018-09-01 0 days 1,623 sqft
    2018-10-01 0 days 1,564 sqft
    2018-11-01 0 days 1,567 sqft
    2018-12-01 0 days 1,578 sqft
    2019-01-01 0 days 1,620 sqft
    2019-02-01 0 days 1,600 sqft
    2019-03-01 0 days 1,594 sqft
    2019-04-01 0 days 1,592 sqft
    2019-05-01 0 days 1,594 sqft
    2019-06-01 0 days 1,668 sqft
    2019-07-01 0 days 1,680 sqft
    2019-08-01 0 days 1,684 sqft
    2019-09-01 0 days 1,682 sqft
    2019-10-01 0 days 1,680 sqft
    2019-11-01 0 days 1,630 sqft
    2019-12-01 0 days 1,599 sqft
    2020-01-01 0 days 1,600 sqft
    2020-02-01 0 days 1,630 sqft
    2020-03-01 0 days 1,557 sqft
    2020-04-01 0 days 1,594 sqft
    2020-05-01 0 days 1,640 sqft
    2020-06-01 0 days 1,735 sqft
    2020-07-01 0 days 1,663 sqft
    2020-08-01 0 days 1,693 sqft
    2020-09-01 0 days 1,631 sqft
    2020-10-01 0 days 1,638 sqft
    2020-11-01 0 days 1,606 sqft
    2020-12-01 0 days 1,596 sqft
    2021-01-01 0 days 1,543 sqft
    2021-02-01 0 days 1,466 sqft
    2021-03-01 0 days 1,480 sqft
    2021-04-01 0 days 1,610 sqft
    2021-05-01 0 days 1,648 sqft
    2021-06-01 0 days 1,721 sqft
    2021-07-01 0 days 1,705 sqft
    2021-08-01 0 days 1,677 sqft
    2021-09-01 0 days 1,788 sqft
    2021-10-01 0 days 1,807 sqft
    2021-11-01 0 days 1,826 sqft
    2021-12-01 0 days 1,770 sqft
    2022-01-01 0 days 1,747 sqft
    2022-02-01 0 days 1,831 sqft
    2022-03-01 0 days 1,672 sqft
    2022-04-01 0 days 1,800 sqft
    2022-05-01 0 days 1,855 sqft
    2022-06-01 0 days 1,844 sqft
    2022-07-01 0 days 1,888 sqft
    2022-08-01 0 days 1,838 sqft
    2022-09-01 0 days 1,790 sqft
    2022-10-01 0 days 1,822 sqft
    2022-11-01 0 days 1,772 sqft
    2022-12-01 0 days 1,826 sqft
    2023-01-01 0 days 1,920 sqft
    2023-02-01 0 days 1,926 sqft
    2023-03-01 0 days 1,821 sqft
    2023-04-01 0 days 1,992 sqft
    2023-05-01 0 days 1,972 sqft
    2023-06-01 0 days 1,998 sqft
    2023-07-01 0 days 2,022 sqft
    2023-08-01 0 days 1,822 sqft
    2023-09-01 0 days 1,758 sqft
    2023-10-01 0 days 1,689 sqft
    2023-11-01 0 days 1,712 sqft
    2023-12-01 0 days 1,728 sqft
    2024-01-01 0 days 1,663 sqft
    2024-02-01 0 days 1,676 sqft
    2024-03-01 0 days 1,663 sqft
    2024-04-01 0 days 1,506 sqft
    2024-05-01 0 days 1,835 sqft
    2024-06-01 0 days 1,732 sqft
    2024-07-01 0 days 1,732 sqft
    2024-08-01 0 days 1,680 sqft
    2024-09-01 0 days 1,834 sqft
    2024-10-01 0 days 1,809 sqft
    2024-11-01 0 days 1,746 sqft
    Point Pleasant's median listing age (time on market) for 2024-11-01 was 0 days.

    Point Pleasant's median square footage for active listings during the 2024-11-01 period was 1,746 sqft. One year prior, the average listing was 1,712 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).