Morgantown VA Loan Rates, Closing Costs & Stats

MORGANTOWN, WV

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    Morgantown's 34 lenders originated 95 VA loans during 2023. The total origination value was $29,745,000, with an average VA loan value of $313,105.

    Morgantown VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in Morgantown averaged 6.24% for the week of 2024-11-08, compared to the national average (all VA variants) of 6.34% for the same period.

    Morgantown's average VA mortgage closing costs are $5,907.

    The average rate for the prior week (2024-11-01) was 6.4% and one month ago for the week of 2024-10-04, the average rate was 5.42%.

    The average rate one year ago was 7.38%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.34%.

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

    Morgantown VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Morgantown level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Mortgage Research Center, LLC 21 6.69% $7,981
    UNITED WHOLESALE MORTGAGE, LLC 8 6.03% $3,325
    NAVY FEDERAL CREDIT UNION 8 5.64% $3,606
    QUICKEN LOANS, LLC 5 6.62% $13,589
    U.S. Bank 4 6.12% $9,655
    NVR Mortgage Finance, Inc. 4 5.44% $4,868
    LOANDEPOT.COM, LLC 3 6.32% $10,372
    First Federal Bank of the Midwest 3 5.33% $7,973
    Clear Mountain Bank 3 6.17% $8,406
    USAA Federal Savings Bank 3 6.08% $9,503
    INTERCOASTAL MORTGAGE COMPANY 2 7.19% $11,977
    Sierra Pacific Mortgage Company, Inc. 2 7.00% $14,195
    Flagstar Bank, FSB 2 6.19% $7,923
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.00% $7,979
    The Huntington National Bank 2 6.88% $10,210
    PNC Bank 2 7.25% $6,284
    Victorian Finance, LLC 1 6.25% $10,577
    Armed Forces Bank 1 5.75% $3,613
    WesBanco 1 6.75% $2,378
    Barrington Bank & Trust Company, N.A. 1 6.25% $6,150
    Century Mortgage Company DBA Century Lending Company 1 5.63% $8,042
    First National Bank of Pennsylvania 1 6.38% $4,782
    FREEDOM MORTGAGE CORPORATION 1 6.38% $20,471
    HOMESPIRE MORTGAGE CORPORATION 1 6.13% $9,752
    Mid-Continent Funding, Inc. 1 6.63% $6,426
    MILLENNIUM FINANCIAL GROUP, INC. 1 7.25% $10,146
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.13% $3,043
    MOVEMENT MORTGAGE, LLC 1 6.25% $18,223
    Paramount Residential Mortgage Group, Inc. 1 6.13% $17,896
    PENTAGON FEDERAL CREDIT UNION 1 5.63% $8,098
    Prosperity Home Mortgage, LLC 1 6.00% $4,775
    Renasant Bank 1 5.75% $2,577
    TIDEWATER MORTGAGE SERVICES, INC. 1 5.75% $15,517
    United Bank 1 5.63% $7,508

    The top Morgantown VA lender as defined by loan originations is Mortgage Research Center, LLC, with 21 VA loans originated. Their average total fees are $7,981, which is $4,656 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Morgantown VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,981), .

    The lowest rate Morgantown VA lenders (with over 10 loans originated) are Mortgage Research Center, LLC (6.69%), .

    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 (3.5%) 0.80 582
    2018-02-01 $222,450 (3.8%) $299,553 (8.2%) 0.81 540
    2018-03-01 $240,000 (11.7%) $315,622 (13.2%) 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 (10.1%) $305,567 (4.3%) 0.82 627
    2018-11-01 $241,250 (12.1%) $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%) $321,200 (1.8%) 0.82 490
    2019-04-01 $263,236 (7.6%) $326,395 (2.8%) 0.84 496
    2019-05-01 $266,700 (8.2%) $327,262 (4.1%) 0.83 548
    2019-06-01 $259,900 (8.3%) $322,524 (5.5%) 0.81 573
    2019-07-01 $260,724 (8.8%) $323,205 (8.3%) 0.82 592
    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 $274,975 (9.4%) $346,618 (7.9%) 0.86 465
    2020-04-01 $275,675 (4.7%) $346,054 (6.0%) 0.86 466
    2020-05-01 $294,000 (10.2%) $355,478 (8.6%) 0.89 428
    2020-06-01 $293,000 (12.7%) $363,530 (12.7%) 0.86 396
    2020-07-01 $284,725 (9.2%) $359,978 (11.4%) 0.83 380
    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 (10.6%) $385,071 (11.3%) 0.83 201
    2021-05-01 $299,900 (2.0%) $396,293 (11.5%) 0.80 192
    2021-06-01 $307,948 (5.1%) $407,585 (12.1%) 0.81 205
    2021-07-01 $285,000 (0.1%) $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 $363,125 (17.0%) $463,909 (-2.5%) 0.82 237
    2024-06-01 $363,500 (12.5%) $461,953 (-2.7%) 0.82 260
    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
    Morgantown's median listing price for 2024-10-01 was $317,809, a difference of $14,314 (4.7%) versus the prior year and $6,071 versus the prior month.

    Morgantown's median listing price comes in at 75% of the national average.

    Morgantown's average listing price for 2024-10-01 was $414,794, a difference of $962 (0.2%) versus the prior year and $3,755 versus the prior month.

    For the 2024-10-01 period, Morgantown had 265 MLS listings, a difference of 12 listings (5%) versus the prior month and 8 listings (3%) 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 1,943 sqft
    2018-12-01 103 days 1,900 sqft
    2019-01-01 109 days 1,899 sqft
    2019-02-01 114 days 1,897 sqft
    2019-03-01 96 days 1,963 sqft
    2019-04-01 69 days 2,012 sqft
    2019-05-01 59 days 2,049 sqft
    2019-06-01 70 days 2,019 sqft
    2019-07-01 75 days 2,034 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 2,217 sqft
    2020-04-01 74 days 2,189 sqft
    2020-05-01 80 days 2,215 sqft
    2020-06-01 84 days 2,248 sqft
    2020-07-01 65 days 2,176 sqft
    2020-08-01 58 days 2,155 sqft
    2020-09-01 66 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 1,872 sqft
    2022-07-01 50 days 1,825 sqft
    2022-08-01 52 days 1,781 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 1,895 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 1,927 sqft
    2023-11-01 65 days 1,939 sqft
    2023-12-01 73 days 1,940 sqft
    2024-01-01 85 days 1,957 sqft
    2024-02-01 85 days 1,938 sqft
    2024-03-01 58 days 1,947 sqft
    2024-04-01 45 days 1,954 sqft
    2024-05-01 43 days 2,158 sqft
    2024-06-01 44 days 2,130 sqft
    2024-07-01 60 days 2,042 sqft
    2024-08-01 66 days 1,987 sqft
    2024-09-01 63 days 1,827 sqft
    2024-10-01 61 days 1,839 sqft
    Morgantown's median listing age (time on market) for 2024-10-01 was 61 days. This is 1% longer than the same period one year ago.

    Morgantown's median square footage for active listings during the 2024-10-01 period was 1,839 sqft. One year prior, the average listing was 1,927 sqft.

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.