Compare mortgage rates and fees for leading lenders in Beckley, WV. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Beckley.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Beckley. Plus, shopping lenders is free and there is no obligation.
September 23, 2020
The current average rate for a 30 year fixed rate mortgage in Beckley is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we provide helpful information on the real estate market, home prices and housing affordability in Beckley. Understand how much you need to earn to afford a home in Beckley, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Beckley fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Beckley is right for you.
The median home value for Beckley, WV (Raleigh County) is $112,849
Based on current mortgage rates and a 10% down payment, you need to make $20,310 per year to buy the median priced home in Beckley
With this income, you could qualify for a $101,564 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Beckley is $470
The median household income for Beckley, WV (Raleigh County) is $44,702
Based on this income, you can afford a home valued at approximately $248,380
The home price you can afford to buy based on household income in Beckley is 220% of the median home value which means housing prices are affordable. Beckley (Raleigh County) ranks 35 out of 55 counties in West Virginia and 1,169 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Beckley, WV is affordable
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Beckley (Raleigh County) below.
Conforming loan limits for Beckley, WV
FHA loan limits for Beckley, WV
VA loan limits for Beckley, WV