Mortgage Calculator West Virginia 2026: Payment, PMI & Real Estate Excise Tax
This mortgage calculator for West Virginia estimates your full monthly payment — principal & interest, property tax, homeowners insurance and PMI — plus the $3.30 per $500 excise tax. Enter your own rate; everything is calculated privately in your browser.
A mortgage calculator for West Virginia estimates the full monthly cost of a West Virginia home loan: principal and interest from standard amortization, plus property tax, homeowners insurance and private mortgage insurance (PMI) when you put down less than 20%. It also shows the $3.30 per $500 excise tax due at closing.
How the Mortgage Calculator West Virginia Formula Works (Worked Example)
Principal and interest use the standard amortization formula M = P × r(1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of payments. Property tax is the home price × your local rate ÷ 12, insurance is your annual premium ÷ 12, and PMI is the loan amount × your PMI rate ÷ 12. Example: a $170,000 West Virginia home, 10% down, 30-year fixed at a user-entered 6.5% (click Load Example above to reproduce it).
| Item | Inputs | Monthly |
|---|---|---|
| Principal & interest | $153,000 loan, 6.5%, 360 payments | $967.06 |
| Property tax | 0.51% of $170,000 ($867/yr) | $72.25 |
| Homeowners insurance | $1,300/yr (example — use your quote) | $108.33 |
| PMI | 0.6% of $153,000 ($918/yr) | $76.50 |
| Total monthly payment | $1,224.15 | |
| State + county excise tax, seller (grantor) (one-time) | on $170,000 | $1,122.00 |
Over 30 years this loan pays about $195,140 in interest. Your rate is an input, not an assumption — check the current weekly national average in Freddie Mac’s Primary Mortgage Market Survey and compare lender Loan Estimates.
West Virginia Property Tax Rate and Your Monthly Payment
The Tax Foundation puts West Virginia’s effective property tax rate at about 0.51% of owner-occupied home value (annual property tax paid ÷ home value, from Census American Community Survey data), so the calculator defaults to 0.51%. West Virginia assesses real property at 60% of appraised market value, then applies the levy rates of the state, county, school board and any municipality. The effective rate above already reflects that 60% ratio. Homeowners 65 or older or permanently disabled can claim a homestead exemption on part of the assessed value.
| Effective rate | Annual tax on $170,000 | Added to monthly payment |
|---|---|---|
| 0.38% | $646 | $53.83 |
| 0.51% (Tax Foundation statewide average) | $867 | $72.25 |
| 0.71% | $1,207 | $100.58 |
West Virginia Closing Costs: Real Estate Excise Tax and Other Fees
West Virginia charges an excise tax on the privilege of transferring real property under W. Va. Code § 11-22-2: $1.10 per $500 of value (or fraction of $500) for the state plus 55 cents per $500 for the county, for $3.30 per $500 in total — about $6.60 per $1,000. The grantor (seller) pays it, unless the grantee accepts the deed without the tax paid, in which case the buyer owes it.
| West Virginia item | Amount | Usually paid by |
|---|---|---|
| State + county excise tax (W. Va. Code § 11-22-2) | $1.10 + $0.55 per $500 of value — $1,122 on $170,000 | Seller (grantor) |
| County recording fees | Set by the county — see your Loan Estimate | Party recording the document |
| Escrow deposits for tax and insurance | Set by your lender — see your Loan Estimate | Buyer |
| Lender, appraisal and title charges | Vary by lender and title company — compare Loan Estimates | Negotiable |
Some costs are negotiable, and sellers sometimes cover part of a buyer’s closing costs as a concession.
How West Virginia Mortgage Rates Affect Your Payment
Rates in West Virginia follow national mortgage markets and vary by lender, credit score, down payment and loan type. On a $165,000 home with 20% down, an example rate of 6.9% produces a monthly principal and interest payment of about $869. A 0.25-point higher rate adds roughly $22 a month, so shopping several lenders can save thousands over the life of the loan.
Adjustable-rate mortgages (ARMs) often start lower but carry rate-reset risk, while a fixed rate keeps principal and interest the same for the whole term. FHA loans (3.5% down) and VA loans (0% down for eligible veterans) are alternatives to a conventional loan in West Virginia.
First-Time Buyer Programs in West Virginia
The West Virginia Housing Development Fund offers the Homeownership Program with down payment and closing cost assistance for eligible buyers; check the Fund for current income and price limits.
FHA loans are available nationwide and require 3.5% down with a 580+ credit score. USDA loans offer 0% down for eligible rural properties in West Virginia. VA loans are available to qualified veterans and active-duty service members with no down payment required and no PMI.
If your down payment is below 20%, Private Mortgage Insurance (PMI) on a $153,000 loan adds about $77/month at a 0.6% annual rate. Experian, citing the Urban Institute puts typical PMI at roughly 0.46%–1.5% of the loan per year depending on credit score, so enter your lender’s quote in the PMI field. PMI can be removed once your loan-to-value ratio reaches 80%, and extra payments get you there sooner.
Last updated: October 2026. Estimates only — confirm figures with your lender, title company and local tax office.
Frequently Asked Questions
What is the average mortgage rate in West Virginia in 2026?
West Virginia mortgage rates track national averages and change weekly. Check the Freddie Mac Primary Mortgage Market Survey for the current 30-year fixed average, then compare quotes from several lenders - your rate depends on credit score, down payment and loan type. The 6.9% default in this calculator is only an example.
What is the average monthly mortgage payment in West Virginia?
There is no single average - it depends on price, rate and local tax. As an example, a $165,000 home with 20% down at 6.9% has principal and interest of about $869 a month; adding 0.51% property tax and $1,300 a year for insurance gives an estimated PITI of about $1,048 a month.
Do I need PMI in West Virginia?
Usually, if your down payment on a conventional loan is less than 20%, lenders in West Virginia require Private Mortgage Insurance (PMI). The Urban Institute puts typical PMI at about 0.46%-1.5% of the loan amount per year, depending mainly on credit score. PMI can be removed once you reach 20% equity, and VA loans have no PMI.
What home price should I enter for West Virginia?
Enter the actual purchase price or list price you are considering. The $165,000 default is an example, not a statewide median - prices vary widely by city and county in West Virginia, so the payment for your home can be much higher or lower.
What is the property tax rate in West Virginia?
The Tax Foundation puts West Virginia’s effective property tax rate on owner-occupied homes at about 0.51% of home value - roughly $842 a year on a $165,000 home. Actual rates vary by county, city and school district, so use the rate from your own tax bill or listing.
How much is the real estate transfer tax in West Virginia?
West Virginia charges $1.10 per $500 of value for the state and 55 cents per $500 for the county under W. Va. Code 11-22-2 - $3.30 per $500 in total, or $1,122 on a $170,000 home. The grantor (seller) pays it unless the buyer accepts the deed without the tax being paid.
What is the monthly payment on a $170,000 house in West Virginia?
With 10% down and a 30-year fixed loan at 6.5%, principal and interest is about $967 a month. Adding 0.51% property tax ($72), $1,300 a year insurance ($108) and 0.6% PMI ($77) brings the total to about $1,224 a month.