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Mortgage Calculator /With Taxes and PMI /West Virginia

West Virginia Mortgage Calculator

Set to West Virginia’s own property tax rate of 0.52% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($34,200)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$996
Monthly payment
$872
Principal & interest
$74
Taxes
$50
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $136,800 Interest paid $177,076
20262056
Total of 360 payments$358,486
Principal$136,800
Interest$177,076
Taxes$26,670
Insurance$17,940
HOA fees$0
P&I 87.6% Taxes 7.4% Insurance 5.0%
15- vs 30-year term at 6.58%
15-year
$1,198/mo P&I
$78,786 total interest
30-year · current
$872/mo P&I
$177,076 total interest
The 15-year term saves $98,291 in interest. Which term is right for you?

What these numbers come from

Median home value
$170,800
Median tax bill
$881
Effective tax rate
0.52%
Rank of 51
41st highest

West Virginia taxes property at about 0.52% of value against 0.89% nationally. On a $171,000 home that is $53 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across West Virginia home prices

20% down, 30-year fixed at 6.58%, with West Virginia property tax of 0.52% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$102,000 $81,600 $520 $44 $594
$137,000 $109,600 $699 $59 $798
$171,000 median $136,800 $872 $74 $996
$214,000 $171,200 $1,091 $93 $1,246
$256,000 $204,800 $1,305 $111 $1,491

The gap between the P&I column and the last one is what a mortgage quote leaves out. In West Virginia taxes alone add $74 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $122 $750 $124 $136,678
Sep $122 $749 $124 $136,556
Oct $123 $749 $124 $136,433
Nov $124 $748 $124 $136,309
Dec $124 $747 $124 $136,184
2026 $616 $3,744 $620 $136,184
Jan $125 $747 $124 $136,059
Feb $126 $746 $124 $135,934
Mar $127 $745 $124 $135,807
Apr $127 $745 $124 $135,680
May $128 $744 $124 $135,552
Jun $129 $743 $124 $135,423

Refinancing in West Virginia

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

West Virginia home loans in detail

West Virginia Mortgage Overview

West Virginia is one of the least expensive places to live, making it easy for first-time homebuyers to buy a home. Whether you have a large down payment or no down payment, there are ways to buy a home in West Virginia.

Here are the top loan programs for homebuyers.

West Virginia conventional loans

Conventional financing the traditional loan most people think about with a mortgage. You don't need a 20 percent down payment though, you can get a loan with 3 percent down if you've never owned a home or 5 percent if you have. Conventional loans require a 660 credit score and low debt to income ratio of around 36 percent to qualify. You will pay PMI if you put less than 20 percent down, but only until you owe less than 80 percent of the home's value.

West Virginia FHA loans

FHA loans are for borrowers with lower credit scores. FHA loans require just a 3.5 percent down payment with a credit score as low as 580. You can also get a loan with a 500 - 579 credit score but you must make a 10 percent down payment. FHA loans have mortgage insurance that lasts for the loan term.

West Virginia VA loans

VA loans are for veterans or current military members. VA loans offer 100 percent financing, but you only need a 620 credit score. VA loans have flexible debt ratio guidelines and are lenient about other qualifying factors. VA loans have an upfront funding fee but not mortgage insurance.

West Virginia USDA loans

USDA loans are for borrowers in a rural area who can't get any other loan. It's for low to moderate-income families. USDA loans require a 640 credit score and a max 41 percent debt ratio. You must live within the USDA boundaries, but many areas of West Virginia are 'rural.'

First-Time Homebuyer

Programs in West Virginia

Homeownership Program

If your income doesn't exceed the stated income maximums for the area and the property's value doesn't exceed the limits, you may be eligible for a 30-year fixed rate mortgage with 100 percent of the sales price as your loan. You may also use down payment assistance to cover the closing costs.

Down Payment Closing Cost Assistance

You may also get down payment and/or closing cost assistance of $7,500 for loans with a 90 percent or higher LTV or $10,000 for loans with an LTV less than 90 percent.

Movin' Up Program

The Movin' Up program isn't just for first-time homebuyers, but it provides down payment assistance to help you buy a larger home if you outgrew your home or buy your first home.

West Virginia mortgage FAQ

How much is property tax on a home in West Virginia?
West Virginia homeowners pay an effective property tax rate of about 0.52 percent of home value — the 41st highest of the 50 states and DC. On the state's median home value of $170,800 that works out to roughly $889 a year, or $74 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced West Virginia home?
At $171,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $872 a month. Adding West Virginia property tax of roughly $74 a month and an estimated $50 of homeowner insurance brings the full payment to around $996.
What home loan choices exist in West Virginia?
West Virginia buyers can use conventional loans with a 660 credit score and 3 percent down for first-time buyers, FHA loans with a 3.5 percent down payment and a 580 score, VA loans giving veterans 100 percent financing with a 620 score, or USDA loans requiring a 640 score for homes in the state's many USDA-eligible rural areas.
How does West Virginia help first-time homebuyers?
The state's Homeownership Program offers a 30-year fixed rate mortgage financing 100 percent of the sales price for buyers within income and property value limits. Down Payment Closing Cost Assistance provides extra funds based on your loan-to-value ratio, and the Movin' Up program supplies down payment assistance to first-time buyers as well as owners moving up to a larger home.
Is it possible to buy a home in West Virginia with no money down?
Yes. VA loans offer veterans 100 percent financing with a 620 credit score, USDA loans cover eligible rural properties for low to moderate-income families with a 640 score, and the West Virginia Homeownership Program can finance 100 percent of the sales price, with down payment assistance available to cover closing costs as well.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.