Compare Morgantown, WV mortgage rates and fees from top lenders. 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 lowest mortgage rates in Morgantown.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Morgantown. Plus, shopping lenders is free and there is no obligation.
May 26, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Morgantown. Understand how much you need to earn to afford a home in Morgantown, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Morgantown 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 Morgantown is right for you.
The median home value for Morgantown, WV (Monongalia County) is $250,595
Based on current mortgage rates and a 10% down payment, you need to make $41,059 per year to buy the median priced home in Morgantown
With this income, you could qualify for a $225,535 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 Morgantown is $951
The median household income for Morgantown, WV (Monongalia County) is $60,464
Based on this income, you can afford a home valued at approximately $369,029
The home price you can afford to buy based on household income in Morgantown is 147% of the median home value which means housing prices are average. Morgantown (Monongalia County) ranks 55 out of 55 counties in West Virginia and 2,623 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Morgantown, WV is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Morgantown (Monongalia County) below.
Conforming loan limits for Morgantown, WV
FHA loan limits for Morgantown, WV