Weirton FHA Loan Rates, Closing Costs & Stats

WEIRTON-STEUBENVILLE, 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.

    Weirton's 54 lenders originated 310 FHA loans during 2023. The total origination value was $43,270,000, with an average FHA loan value of $139,581.

    Weirton FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Weirton averaged 6.91% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Weirton's average FHA mortgage closing costs are $5,781.

    The average rate for the prior week (2024-04-12) was 6.6% and one month ago for the week of 2024-03-15, the average rate was 6.57%.

    The average rate one year ago was 6.1%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.43%.

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

    Weirton 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 Weirton level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    POLARIS HOME FUNDING CORP. 66 6.71% $7,883
    QUICKEN LOANS, LLC 36 6.57% $7,441
    WesBanco 19 5.83% $6,102
    CROSSCOUNTRY MORTGAGE, LLC 17 6.81% $9,034
    LOANDEPOT.COM, LLC 14 5.94% $6,110
    U.S. Bank 14 6.79% $6,051
    The Huntington National Bank 14 6.95% $7,218
    MORTGAGE SOLUTIONS OF COLORADO, LLC 10 7.29% $7,328
    Flagstar Bank, FSB 10 6.96% $8,195
    AMERISAVE MORTGAGE CORPORATION 5 6.05% $9,868
    Ixonia Bank 4 7.25% $6,777
    BROKER SOLUTIONS, INC. 4 6.81% $9,982
    DEVELOPER'S MORTGAGE COMPANY 4 7.19% $4,971
    Gateway First Bank 3 7.38% $6,252
    LEADERONE FINANCIAL CORPORATION 3 6.88% $6,963
    MID AMERICA MORTGAGE, INC. 3 6.17% $7,442
    UNITED WHOLESALE MORTGAGE, LLC 3 6.83% $7,610
    FREEDOM MORTGAGE CORPORATION 2 7.25% $10,757
    Bank of England 2 6.50% $9,105
    NFM, INC. 2 7.56% $8,749
    SUN WEST MORTGAGE COMPANY, INC. 2 6.94% $8,262
    JPMorgan Chase Bank 2 6.38% $5,594
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.25% $3,743
    UNION HOME MORTGAGE CORP. 2 7.31% $8,453
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $7,048
    Waterstone Mortgage Corporation 2 7.88% $7,459
    United Bank 1 5.99% $4,621
    Victorian Finance, LLC 1 7.00% $5,841
    Mortgage Research Center, LLC 1 7.13% $4,259
    AMCAP MORTGAGE, LTD. 1 7.13% $6,834
    AMERICAN FINANCIAL NETWORK, INC. 1 7.50% $10,511
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.63% $9,020
    ARC HOME LLC 1 6.13% $7,953
    Barrington Bank & Trust Company, N.A. 1 6.75% $4,924
    CARDINAL FINANCIAL 1 5.99% $8,859
    Carrington Mortgage Services, LLC 1 6.13% $4,148
    DAS Acquisition Company, LLC 1 7.63% $6,692
    Equity Prime Mortgage LLC 1 7.75% $9,949
    First National Bank of Pennsylvania 1 5.63% $6,271
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 6.88% $4,913
    INTERCOASTAL MORTGAGE COMPANY 1 6.75% $6,197
    ALLIED MORTGAGE GROUP, INC. 1 6.50% $9,946
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $9,125
    NEW DAY FINANCIAL, LLC 1 7.99% $3,507
    NEWREZ LLC 1 6.63% $8,672
    Paramount Residential Mortgage Group, Inc. 1 7.63% $6,620
    Prosperity Home Mortgage, LLC 1 6.12% $9,539
    RELIANCE FIRST CAPITAL, LLC 1 7.00% $5,272
    ROYAL UNITED MORTGAGE LLC 1 6.63% $10,002
    RUOFF MORTGAGE COMPANY, INC. 1 6.00% $5,612
    Simmons Bank 1 5.75% $6,544
    The Federal Savings Bank 1 5.75% $11,406
    TOP FLITE FINANCIAL, INC. 1 6.75% $12,195
    Truist 1 6.50% $7,462

    The top Weirton FHA lender as defined by loan originations is POLARIS HOME FUNDING CORP., with 66 FHA loans originated. Their average total fees are $7,883, which is $441 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Weirton FHA lenders (with over 10 loans originated) are U.S. Bank ($6,051), WesBanco ($6,102), LOANDEPOT.COM, LLC ($6,110), The Huntington National Bank ($7,218) and MORTGAGE SOLUTIONS OF COLORADO, LLC ($7,328).

    The lowest rate Weirton FHA lenders (with over 10 loans originated) are WesBanco (5.83%), LOANDEPOT.COM, LLC (5.94%), QUICKEN LOANS, LLC (6.57%), POLARIS HOME FUNDING CORP. (6.71%) and U.S. Bank (6.79%).

    Weirton FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    WEIRTON-STEUBENVILLE, WV-OH JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
    WEIRTON-STEUBENVILLE, WV-OH BROOKE 2022 $420,680 $538,650 $651,050 $809,150
    WEIRTON-STEUBENVILLE, WV-OH HANCOCK 2022 $420,680 $538,650 $651,050 $809,150
    WEIRTON-STEUBENVILLE, WV-OH JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
    WEIRTON-STEUBENVILLE, WV-OH BROOKE 2023 $472,030 $604,400 $730,525 $907,900
    WEIRTON-STEUBENVILLE, WV-OH HANCOCK 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Weirton (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 $88,625 (14.4%) $114,147 (3.9%) 0.00 351
    2018-02-01 $84,950 (8.6%) $111,170 (2.7%) 0.00 341
    2018-03-01 $84,500 (5.0%) $114,893 (3.9%) 0.00 334
    2018-04-01 $80,975 (-4.6%) $113,353 (2.2%) 0.00 324
    2018-05-01 $81,350 (1.8%) $116,629 (6.7%) 0.00 313
    2018-06-01 $80,000 (0.1%) $120,042 (8.7%) 0.00 330
    2018-07-01 $89,000 (11.4%) $123,008 (12.0%) 0.00 359
    2018-08-01 $93,925 (14.4%) $124,930 (11.1%) 0.00 365
    2018-09-01 $95,000 (13.2%) $123,879 (13.7%) 0.00 334
    2018-10-01 $91,975 (5.7%) $125,338 (12.0%) 0.00 323
    2018-11-01 $88,900 (-1.1%) $125,113 (5.8%) 0.00 324
    2018-12-01 $89,850 (-0.1%) $124,520 (5.2%) 0.00 312
    2019-01-01 $89,900 (1.4%) $128,283 (12.4%) 0.00 279
    2019-02-01 $92,861 (9.3%) $125,073 (12.5%) 0.00 261
    2019-03-01 $93,877 (11.1%) $125,783 (9.5%) 0.00 254
    2019-04-01 $96,325 (19.0%) $127,547 (12.5%) 0.00 268
    2019-05-01 $98,175 (20.7%) $127,719 (9.5%) 0.00 295
    2019-06-01 $98,900 (23.6%) $128,022 (6.7%) 0.00 304
    2019-07-01 $95,500 (7.3%) $127,499 (3.7%) 0.00 313
    2019-08-01 $96,891 (3.2%) $128,946 (3.2%) 0.00 328
    2019-09-01 $99,877 (5.1%) $131,428 (6.1%) 0.00 332
    2019-10-01 $101,868 (10.8%) $133,083 (6.2%) 0.00 335
    2019-11-01 $99,700 (12.2%) $128,404 (2.6%) 0.00 305
    2019-12-01 $96,825 (7.8%) $124,063 (-0.4%) 0.00 289
    2020-01-01 $91,600 (1.9%) $123,104 (-4.0%) 0.00 295
    2020-02-01 $94,750 (2.0%) $125,644 (0.5%) 0.00 284
    2020-03-01 $90,800 (-3.3%) $123,305 (-2.0%) 0.00 269
    2020-04-01 $96,600 (0.3%) $126,728 (-0.6%) 0.00 259
    2020-05-01 $89,950 (-8.4%) $127,343 (-0.3%) 0.00 221
    2020-06-01 $96,625 (-2.3%) $138,612 (8.3%) 0.00 209
    2020-07-01 $101,175 (5.9%) $139,647 (9.5%) 0.00 208
    2020-08-01 $109,900 (13.4%) $137,219 (6.4%) 0.00 220
    2020-09-01 $109,925 (10.1%) $140,562 (7.0%) 0.00 226
    2020-10-01 $115,000 (12.9%) $144,272 (8.4%) 0.00 220
    2020-11-01 $115,000 (15.4%) $139,760 (8.8%) 0.00 239
    2020-12-01 $119,450 (23.4%) $139,420 (12.4%) 0.00 221
    2021-01-01 $109,900 (20.0%) $132,958 (8.0%) 0.00 204
    2021-02-01 $99,550 (5.1%) $131,592 (4.7%) 0.00 175
    2021-03-01 $119,950 (32.1%) $139,637 (13.3%) 0.00 163
    2021-04-01 $127,400 (31.9%) $149,497 (18.0%) 0.00 132
    2021-05-01 $134,900 (50.0%) $160,444 (26.0%) 0.00 134
    2021-06-01 $139,900 (44.8%) $163,200 (17.7%) 0.00 148
    2021-07-01 $138,000 (36.4%) $154,638 (10.7%) 0.00 162
    2021-08-01 $129,900 (18.2%) $161,479 (17.7%) 0.00 177
    2021-09-01 $125,250 (13.9%) $171,819 (22.2%) 0.00 190
    2021-10-01 $135,000 (17.4%) $157,988 (9.5%) 0.00 211
    2021-11-01 $136,700 (18.9%) $166,294 (19.0%) 0.00 197
    2021-12-01 $132,450 (10.9%) $173,971 (24.8%) 0.00 181
    2022-01-01 $132,900 (20.9%) $183,624 (38.1%) 0.00 164
    2022-02-01 $130,950 (31.5%) $181,675 (38.1%) 0.00 147
    2022-03-01 $124,675 (3.9%) $185,171 (32.6%) 0.00 141
    2022-04-01 $125,000 (-1.9%) $185,892 (24.3%) 0.00 143
    2022-05-01 $144,950 (7.5%) $205,384 (28.0%) 0.00 139
    2022-06-01 $147,950 (5.8%) $203,815 (24.9%) 0.00 156
    2022-07-01 $150,000 (8.7%) $204,848 (32.5%) 0.00 178
    2022-08-01 $161,200 (24.1%) $211,382 (30.9%) 0.00 199
    2022-09-01 $151,000 (20.6%) $208,000 (21.1%) 0.00 206
    2022-10-01 $134,700 (-0.2%) $197,478 (25.0%) 0.00 193
    2022-11-01 $139,917 (2.4%) $191,089 (14.9%) 0.00 200
    2022-12-01 $126,950 (-4.2%) $184,227 (5.9%) 0.00 216
    2023-01-01 $120,700 (-9.2%) $169,251 (-7.8%) 0.00 201
    2023-02-01 $112,200 (-14.3%) $182,913 (0.7%) 0.00 171
    2023-03-01 $109,900 (-11.9%) $185,564 (0.2%) 0.00 165
    2023-04-01 $124,450 (-0.4%) $196,981 (6.0%) 0.00 182
    2023-05-01 $109,900 (-24.2%) $183,069 (-10.9%) 0.00 198
    2023-06-01 $118,500 (-19.9%) $177,849 (-12.7%) 0.00 200
    2023-07-01 $121,250 (-19.2%) $189,525 (-7.5%) 0.00 214
    2023-08-01 $139,750 (-13.3%) $196,822 (-6.9%) 0.00 220
    2023-09-01 $154,000 (2.0%) $198,717 (-4.5%) 0.00 213
    2023-10-01 $155,950 (15.8%) $201,713 (2.1%) 0.00 223
    2023-11-01 $149,950 (7.2%) $197,674 (3.5%) 0.00 229
    2023-12-01 $149,900 (18.1%) $189,339 (2.8%) 0.00 221
    2024-01-01 $149,600 (23.9%) $190,383 (12.5%) 0.00 213
    2024-02-01 $150,000 (33.7%) $198,056 (8.3%) 0.00 206
    2024-03-01 $149,450 (36.0%) $192,686 (3.8%) 0.00 198
    Weirton's median listing price for 2024-03-01 was $149,450, a difference of $39,550 (36.0%) versus the prior year and $-550 versus the prior month.

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

    Weirton's average listing price for 2024-03-01 was $192,686, a difference of $7,122 (3.8%) versus the prior year and $-5,370 versus the prior month.

    For the 2024-03-01 period, Weirton had 198 MLS listings, a difference of -8 listings (-4%) versus the prior month and 33 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Weirton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,347 sqft
    2018-02-01 0 days 1,362 sqft
    2018-03-01 0 days 1,366 sqft
    2018-04-01 0 days 1,379 sqft
    2018-05-01 0 days 1,369 sqft
    2018-06-01 0 days 1,392 sqft
    2018-07-01 0 days 1,533 sqft
    2018-08-01 0 days 1,567 sqft
    2018-09-01 0 days 1,577 sqft
    2018-10-01 0 days 1,597 sqft
    2018-11-01 0 days 1,571 sqft
    2018-12-01 0 days 1,560 sqft
    2019-01-01 0 days 1,577 sqft
    2019-02-01 0 days 1,511 sqft
    2019-03-01 0 days 1,520 sqft
    2019-04-01 0 days 1,519 sqft
    2019-05-01 0 days 1,409 sqft
    2019-06-01 0 days 1,372 sqft
    2019-07-01 0 days 1,427 sqft
    2019-08-01 0 days 1,457 sqft
    2019-09-01 0 days 1,503 sqft
    2019-10-01 0 days 1,532 sqft
    2019-11-01 0 days 1,508 sqft
    2019-12-01 0 days 1,500 sqft
    2020-01-01 0 days 1,497 sqft
    2020-02-01 0 days 1,503 sqft
    2020-03-01 0 days 1,472 sqft
    2020-04-01 0 days 1,492 sqft
    2020-05-01 0 days 1,490 sqft
    2020-06-01 0 days 1,501 sqft
    2020-07-01 0 days 1,524 sqft
    2020-08-01 0 days 1,488 sqft
    2020-09-01 0 days 1,488 sqft
    2020-10-01 0 days 1,489 sqft
    2020-11-01 0 days 1,457 sqft
    2020-12-01 0 days 1,482 sqft
    2021-01-01 0 days 1,500 sqft
    2021-02-01 0 days 1,440 sqft
    2021-03-01 0 days 1,454 sqft
    2021-04-01 0 days 1,492 sqft
    2021-05-01 0 days 1,523 sqft
    2021-06-01 0 days 1,558 sqft
    2021-07-01 0 days 1,564 sqft
    2021-08-01 0 days 1,564 sqft
    2021-09-01 0 days 1,559 sqft
    2021-10-01 0 days 1,560 sqft
    2021-11-01 0 days 1,531 sqft
    2021-12-01 0 days 1,550 sqft
    2022-01-01 0 days 1,521 sqft
    2022-02-01 0 days 1,530 sqft
    2022-03-01 0 days 1,485 sqft
    2022-04-01 0 days 1,480 sqft
    2022-05-01 0 days 1,511 sqft
    2022-06-01 0 days 1,521 sqft
    2022-07-01 0 days 1,530 sqft
    2022-08-01 0 days 1,520 sqft
    2022-09-01 0 days 1,506 sqft
    2022-10-01 0 days 1,520 sqft
    2022-11-01 0 days 1,574 sqft
    2022-12-01 0 days 1,495 sqft
    2023-01-01 0 days 1,451 sqft
    2023-02-01 0 days 1,490 sqft
    2023-03-01 0 days 1,512 sqft
    2023-04-01 0 days 1,520 sqft
    2023-05-01 0 days 1,530 sqft
    2023-06-01 0 days 1,523 sqft
    2023-07-01 0 days 1,563 sqft
    2023-08-01 0 days 1,607 sqft
    2023-09-01 0 days 1,643 sqft
    2023-10-01 0 days 1,611 sqft
    2023-11-01 0 days 1,582 sqft
    2023-12-01 0 days 1,524 sqft
    2024-01-01 0 days 1,573 sqft
    2024-02-01 0 days 1,603 sqft
    2024-03-01 0 days 1,563 sqft
    Weirton's median listing age (time on market) for 2024-03-01 was 0 days.

    Weirton's median square footage for active listings during the 2024-03-01 period was 1,563 sqft. One year prior, the average listing was 1,512 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).