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West Virginia Mortgage Rates

West Virginia Mortgages

The southernmost northern state and the northernmost southern state is the state of West Virginia. Heavily influenced by its surrounding neighbors, this 35th state was formed after breaking away from Virginia in 1863. Hilly and mountainous, it’s no wonder the state is nicknamed the Mountain State. Located in the Allegheny Plateau, over 75 percent of West Virginia’s land is covered with forests. Much of it is protected including the areas that make up the George Washington National Forest and Harpers Ferry National Park.

Coal mining was and still is a major industry in West Virginia, producing about 15 percent of all coal produced in the Unites States. Even though it’s cold during the winter and humid and hot during the summer, most West Virginia residents appreciate the variety of outdoor recreational opportunities available to them. Among the favorite pastimes is listening to Bluegrass and Appalachian music. If you’re looking for a state with a lot of history and unsurpassed natural beauty, consider home ownership in West Virginia.

West Virginia conforming mortgage

The federal agencies Fannie Mae and Freddie Mac exist to assist low- to moderate-income families realize their dreams of home ownership. This goal is partly accomplished by providing funding to qualified West Virginia lenders that agree to help this target group. To qualify for a lower cost conforming loan, borrowers must meet specific U.S. government guidelines. These guidelines, which are reviewed and adjusted as needed annually, pertain to a borrower’s debt-to-income ratio, the amount being borrowed and other considerations.

West Virginia second mortgage

If you have built equity in your home and you meet income eligibility requirements, you may qualify for a second mortgage. A second mortgage can provide you with cash that you can use pretty much any way you choose. You can use it to tackle home remodeling projects, to cover the costs of starting a business, to consolidate debt, or to tide you over until your next paycheck arrives. If you want an adjustable-rate second mortgage, apply for a HELOC or Home Equity Line of Credit. For a fixed rate, apply for a home equity loan.

Comparing West Virginia mortgages

Comparing financing offers makes sense if your goal is saving money. To help during your search for the ideal West Virginia mortgage, offers timely articles and rate comparison charts. It also makes available a directory of West Virginia brokers to facilitate contacting lenders and requesting quotes.

Popular Areas in West Virginia

Oak Hill
Point Pleasant