2024 FHA Loan Limits in West Virginia
For many homebuyers, a mortgage loan backed by the Federal Housing Administration (FHA) provides a viable path to homeownership due to the loan’s flexible eligibility requirements. It’s important to note, though, that not every home is available for purchase with an FHA loan. These loans have maximum limits, so homebuyers are restricted to buying homes within those limits. For single-family homes in West Virginia, the loan limit is $498,257 in all counties except Jefferson, where the loan limit is $1,149,825.
West Virginia FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| BARBOUR | $498,257 | $637,950 | $771,125 | $958,350 | $104,000 |
| BERKELEY | $498,257 | $637,950 | $771,125 | $958,350 | $269,000 |
| BOONE | $498,257 | $637,950 | $771,125 | $958,350 | $152,000 |
| BRAXTON | $498,257 | $637,950 | $771,125 | $958,350 | $112,000 |
| BROOKE | $498,257 | $637,950 | $771,125 | $958,350 | $131,000 |
| CABELL | $498,257 | $637,950 | $771,125 | $958,350 | $200,000 |
| CALHOUN | $498,257 | $637,950 | $771,125 | $958,350 | $131,000 |
| CLAY | $498,257 | $637,950 | $771,125 | $958,350 | $152,000 |
| DODDRIDGE | $498,257 | $637,950 | $771,125 | $958,350 | $152,000 |
| FAYETTE | $498,257 | $637,950 | $771,125 | $958,350 | $126,000 |
| GILMER | $498,257 | $637,950 | $771,125 | $958,350 | $80,000 |
| GRANT | $498,257 | $637,950 | $771,125 | $958,350 | $174,000 |
| GREENBRIER | $498,257 | $637,950 | $771,125 | $958,350 | $108,000 |
| HAMPSHIRE | $498,257 | $637,950 | $771,125 | $958,350 | $385,000 |
| HANCOCK | $498,257 | $637,950 | $771,125 | $958,350 | $131,000 |
| HARDY | $498,257 | $637,950 | $771,125 | $958,350 | $129,000 |
| HARRISON | $498,257 | $637,950 | $771,125 | $958,350 | $152,000 |
| JACKSON | $498,257 | $637,950 | $771,125 | $958,350 | $152,000 |
| JEFFERSON | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| KANAWHA | $498,257 | $637,950 | $771,125 | $958,350 | $152,000 |
| LEWIS | $498,257 | $637,950 | $771,125 | $958,350 | $106,000 |
| LINCOLN | $498,257 | $637,950 | $771,125 | $958,350 | $152,000 |
| LOGAN | $498,257 | $637,950 | $771,125 | $958,350 | $117,000 |
| MARION | $498,257 | $637,950 | $771,125 | $958,350 | $138,000 |
| MARSHALL | $498,257 | $637,950 | $771,125 | $958,350 | $187,000 |
| MASON | $498,257 | $637,950 | $771,125 | $958,350 | $138,000 |
| MCDOWELL | $498,257 | $637,950 | $771,125 | $958,350 | $56,000 |
| MERCER | $498,257 | $637,950 | $771,125 | $958,350 | $132,000 |
| MINERAL | $498,257 | $637,950 | $771,125 | $958,350 | $149,000 |
| MINGO | $498,257 | $637,950 | $771,125 | $958,350 | $105,000 |
| MONONGALIA | $498,257 | $637,950 | $771,125 | $958,350 | $255,000 |
| MONROE | $498,257 | $637,950 | $771,125 | $958,350 | $99,000 |
| MORGAN | $498,257 | $637,950 | $771,125 | $958,350 | $269,000 |
| NICHOLAS | $498,257 | $637,950 | $771,125 | $958,350 | $103,000 |
| OHIO | $498,257 | $637,950 | $771,125 | $958,350 | $187,000 |
| PENDLETON | $498,257 | $637,950 | $771,125 | $958,350 | $172,000 |
| PLEASANTS | $498,257 | $637,950 | $771,125 | $958,350 | $114,000 |
| POCAHONTAS | $498,257 | $637,950 | $771,125 | $958,350 | $70,000 |
| PRESTON | $498,257 | $637,950 | $771,125 | $958,350 | $255,000 |
| PUTNAM | $498,257 | $637,950 | $771,125 | $958,350 | $200,000 |
| RALEIGH | $498,257 | $637,950 | $771,125 | $958,350 | $126,000 |
| RANDOLPH | $498,257 | $637,950 | $771,125 | $958,350 | $147,000 |
| RITCHIE | $498,257 | $637,950 | $771,125 | $958,350 | $60,000 |
| ROANE | $498,257 | $637,950 | $771,125 | $958,350 | $64,000 |
| SUMMERS | $498,257 | $637,950 | $771,125 | $958,350 | $175,000 |
| TAYLOR | $498,257 | $637,950 | $771,125 | $958,350 | $152,000 |
| TUCKER | $498,257 | $637,950 | $771,125 | $958,350 | $142,000 |
| TYLER | $498,257 | $637,950 | $771,125 | $958,350 | $85,000 |
| UPSHUR | $498,257 | $637,950 | $771,125 | $958,350 | $166,000 |
| WAYNE | $498,257 | $637,950 | $771,125 | $958,350 | $200,000 |
| WEBSTER | $498,257 | $637,950 | $771,125 | $958,350 | $96,000 |
| WETZEL | $498,257 | $637,950 | $771,125 | $958,350 | $85,000 |
| WIRT | $498,257 | $637,950 | $771,125 | $958,350 | $133,000 |
| WOOD | $498,257 | $637,950 | $771,125 | $958,350 | $133,000 |
| WYOMING | $498,257 | $637,950 | $771,125 | $958,350 | $43,000 |
How are FHA loan limits determined?
Under the National Housing Act, the FHA sets low, or “floor,” and high, or “ceiling,” loan limits each year for the loans it backs. These limits are based on a percentage of the national conforming loan limit set by the Federal Housing Finance Agency (FHFA) for conventional mortgages guaranteed or owned by Fannie Mae or Freddie Mac.
For a one-unit property, the 2024 national conforming loan limit is $766,550. The FHA uses 65% of the national conforming loan limit to set the floor loan limit; in this case, that’s $498,257 for a one-unit property. The floor loan limit applies to the majority of counties throughout the country. For those counties located in high-cost areas, the FHA sets the ceiling by taking 150% of the national conforming loan limit. For 2024, the FHA ceiling is $1,149,825.
In Alaska, Hawaii, Guam and the U.S. Virgin Islands where building costs are significantly higher, the ceiling could be further adjusted.
How to qualify for an FHA loan in West Virginia
Even with less stringent eligibility requirements, homebuyers still need to meet specific requirements to qualify for FHA loans. Lenders will review a borrower’s employment and income records, their credit history and their existing debt load. Some specific requirements include:
→ Credit score. Minimum FHA credit score requirements depend on the down payment. For a down payment of 3.5%, the minimum credit score required is 580. For a down payment of at least 10%, the lowest credit score required is 500.
→ Debt-to-income (DTI) ratio. To calculate your DTI ratio, add up your monthly debt and divide it by your gross monthly income. It should not be more than 43%. However, for those with superior credit scores plus cash on hand, DTI ratios can range higher.
→ Mortgage insurance. Borrowers must purchase two forms of FHA mortgage insurance to cover the loan if they default. Upfront FHA mortgage insurance (1.75% of the loan amount) may be added to the loan balance, and the annual insurance premium (between 0.15% and 0.75% of the loan amount) can be divided amongst the monthly mortgage payments.
→ Income limits. There are no income limits for FHA home loans.
→ Residency. The borrower must live in the home for at least one year when using an FHA loan to buy it.
→ Cash reserves. Lenders may require borrowers with a high DTI ratio or low credit score to maintain cash reserves. The amount could vary but would likely be enough to pay several monthly mortgage payments.
Buying a multifamily property with an FHA loan
FHA loans are not just for purchasing single-family homes. Borrowers also can use the FHA program to purchase a multifamily home with two to four units. As with a single-family home loan, FHA loans for multifamily homes could be available with a down payment of just 3.5%. Other eligibility requirements include:
→ Credit score. When you pay 3.5% down, the minimum credit score is 580. For borrowers paying 10% down, the minimum credit score is 500.
→ Debt-to-income (DTI) ratio. Borrowers cannot have a DTI ratio of more than 43% to qualify.
→ Residency. Borrowers must live in one of the property’s units.
→ Cash reserves. You will need at least one month’s cash reserves (equivalent to one monthly mortgage payment), but may need more than that when buying properties with three or four units.
| Number of units | Low-cost FHA loan limit |
|---|---|
| Two | $637,950 |
| Three | $771,125 |
| Four | $958,350 |
FHA lenders in West Virginia
| Lender | LendingTree rating | Minimum FHA credit score | |
|---|---|---|---|
 |  Read our review | 580 | Get offers |
 | Read our review | Not disclosed | Get offers |
 | Read our review | 580 | Get offers |
 | Read our review | 580 | Get offers |
 |  Read our review | 580 | Get offers |