5 Best Jumbo Loans in West Virginia


Borrowers in West Virginia can more easily buy large properties with jumbo loans.

Key Terms

  • Jumbo loans offer higher limits than conventional mortgages in West Virginia.
  • These loans do not always require a lot of money down.
  • Borrowers can use a single loan to finance a large or expensive property in West Virginia.

The only state completely within the Appalachian mountain range, West Virginia has good reason to be known as the “Mountain State.” Its unique vistas make it one of the most dynamic locations in the East, rivaling the Big Sky country of the West. 

According to KV Realtors, the median sales price for a home in the state Is just over $160,000. While this median price remains below the conforming limits on conventional mortgages, West Virginians looking for larger properties or more modern homes could very well pass those limits. Financing with a jumbo loan can help those in West Virginia who want an easier way to finance a large home purchase. 

For the most recent year, the HDMA data places West Virginia 47th in the country in terms of mortgage origination activity, with a total of $325 million in jumbo mortgages originated. If you’re looking for a jumbo mortgage in West Virginia, there may well be many other West Virginians doing the same. 

Show Me Lenders

What is the jumbo loan limit in West Virginia?

The jumbo loan limit in West Virginia is $647,200 for most counties in the state. In Jefferson County, the jumbo loan limit is $765,600. Any loan that exceeds either $647,200 or $765,600 is a jumbo loan, depending on the county.

West Virginia Jumbo Loan Limits (December 2022)

West Virginia county-by-county jumbo loan, conforming loan and FHA loan limits.

West Virginia
County
West Virginia
Jumbo loan
(1-unit)
West Virginia
Conforming
loan limit
(1-unit)
West Virginia
FHA loan limit
(1-unit)
Barbour$647,200+$647,200 $420,680
Berkeley$647,200+$647,200 $420,680
Boone$647,200+$647,200 $420,680
Braxton$647,200+$647,200 $420,680
Brooke$647,200+$647,200 $420,680
Cabell$647,200+$647,200 $420,680
Calhoun$647,200+$647,200 $420,680
Clay$647,200+$647,200 $420,680
Doddridge$647,200+$647,200 $420,680
Fayette$647,200+$647,200 $420,680
Gilmer$647,200+$647,200 $420,680
Grant$647,200+$647,200 $420,680
Greenbrier$647,200+$647,200 $420,680
Hampshire$647,200+$647,200 $420,680
Hancock$647,200+$647,200 $420,680
Hardy$647,200+$647,200 $420,680
Harrison$647,200+$647,200 $420,680
Jackson$647,200+$647,200 $420,680
Jefferson$765,600+$765,600 $765,600
Kanawha$647,200+$647,200 $420,680
Lewis$647,200+$647,200 $420,680
Lincoln$647,200+$647,200 $420,680
Logan$647,200+$647,200 $420,680
Mcdowell$647,200+$647,200 $420,680
Marion$647,200+$647,200 $420,680
Marshall$647,200+$647,200 $420,680
Mason$647,200+$647,200 $420,680
Mercer$647,200+$647,200 $420,680
Mineral$647,200+$647,200 $420,680
Mingo$647,200+$647,200 $420,680
Monongalia$647,200+$647,200 $420,680
Monroe$647,200+$647,200 $420,680
Morgan$647,200+$647,200 $420,680
Nicholas$647,200+$647,200 $420,680
Ohio$647,200+$647,200 $420,680
Pendleton$647,200+$647,200 $420,680
Pleasants$647,200+$647,200 $420,680
Pocahontas$647,200+$647,200 $420,680
Preston$647,200+$647,200 $420,680
Putnam$647,200+$647,200 $420,680
Raleigh$647,200+$647,200 $420,680
Randolph$647,200+$647,200 $420,680
Ritchie$647,200+$647,200 $420,680
Roane$647,200+$647,200 $420,680
Summers$647,200+$647,200 $420,680
Taylor$647,200+$647,200 $420,680
Tucker$647,200+$647,200 $420,680
Tyler$647,200+$647,200 $420,680
Upshur$647,200+$647,200 $420,680
Wayne$647,200+$647,200 $420,680
Webster$647,200+$647,200 $420,680
Wetzel$647,200+$647,200 $420,680
Wirt$647,200+$647,200 $420,680
Wood$647,200+$647,200 $420,680
Wyoming$647,200+$647,200 $420,680

Get Quotes for Your Jumbo Loan

5 Top West Virginia jumbo loan lenders

If you’re ready to learn more about the best jumbo mortgage lenders in West Virginia, here are the top options we’ve found through our research.

1. Fifth Third Bank

Fifth Third Bank is headquartered in Cincinnati, Ohio and is one of the largest consumer banks in the country. The bank’s unique name came from a 1909 merger between Third National Bank and Fifth National Bank. The bank offers a full suite of financial products, including jumbo mortgages.

We contacted Fifth Third Bank to learn about their jumbo loan mortgage specifically. Here are the important details:

  • Loans up to $3 million
  • Minimum credit score is 680
  • Fixed rate and variable rate loans available
  • Cash reserves required
  • Jumbo loans are more likely to require a downpayment of 20%, though you may be able to go as low as 10%

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

2. Huntington Bank

Huntington Bank is the 26th largest bank in the United States. Operating primarily out of the Midwest, their mortgage group can service a large part of the country. Huntington has a competitive physician loan product with no money down financing options.

We contacted a loan officer at Huntington Bank to gather information about the doctor mortgage and here’s what we heard back:

  • Loan amounts up to $2.5 million
  • Purchase and refinance available
  • Refinancing allows you to take up to $750,000 of equity out of your home.
  • Second homes are eligible
  • Multi-unit properties are eligible

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

3. BMO Harris Bank

BMO Harris Bank is an established player in the mortgage industry that ranks 16th largest by total assets in the country. The bank offers a full range of financial products, including a jumbo loans.

We spoke to a BMO Harris loan officer to get additional details about the doctor mortgage, many of which aren’t published. Here are some key terms and highlights:

  • 10% down to $1 million (740+ credit score)
  • 15% down to $1.5 million (720+ credit score)
  • 20% down to $2 million (700+ credit score)
  • 25% down to $3 million (700+ credit score)
  • 30% down to $5 million (700+ credit score)
  • 45% down over $5 million (700+ credit score)
  • 30/20/15/10 year fixed
  • 5/6, 7/6, and 10/6 ARMs
  • All 50 states
  • 12 months reserves

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

4. SoFi

SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages.

We spoke to a loan officer at SoFi to discuss their jumbo loan mortgage and this is what we learned:

  • Loan amounts up to $3 million
  • Down payments start at 10% and increase as the loan amount increases.
  • No PMI, regardless of your down payment amount.
  • 15-year or 30-year fixed rate products available

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

5. Flagstar Bank

Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.

We reached out to a loan officer at Flagstar Bank to get details on their jumbo mortgage. Here are the highlights:

  • Loan amounts up to $3 million on primary residences
  • Loan amounts up to $2.5 million on second homes
  • Purchase and rate/term refinance options available on primary residences and second homes
  • No prepayment penalties
  • First-time homebuyers permitted
  • No mortgage insurance options available
  • Cash-out options available on primary residence

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

Advantages in West Virginia to taking out a jumbo loan

Since new homes in West Virginia are getting more expensive and anyone looking for acreage may be facing a high price, many homebuyers are finding it difficult to finance with traditional mortgages in the state. West Virginia jumbo loans can be a step in the right direction. If traditional home loans have low limits but you found a dream home on the NMLS that you want to buy, a jumbo loan might be the answer.

There are many loan types out there, including an FHA loan and a VA loan. But these more traditional loans have more rules and limits, which can be a problem if the purchase or listing price on your chosen real estate is too high. These conforming loan limits are the biggest reason some homebuyers start researching jumbo loans.

Homeowners have loan options like a jumbo loan for a big purchase price on a dream home. Bear in mind that you’ll need to confirm interest rates, credit score requirements, and monthly payment amounts with any lender who says they offer jumbo loans. A mortgage calculator can give you a more realistic idea of what you’d be responsible for if you went forward with a purchase.

Over time, you’ll build home equity as you make mortgage payments, but it can take longer to get substantial home equity depending on your interest rates and the purchase price of the home. If you don’t put any down payment or only a small down payment, it will take longer to get traction with equity.

Share the NMLS id with your mortgage offer to verify if you’re eligible for a jumbo loan. Each lender has their own requirements around credit scores and other details, too, so ask about that as well. This gives you the best information to decide if a jumbo loan is best for you.

If you’re looking at a single-family home as an investment over time, a jumbo loan to get your foot in the door can work well so long as you know you’ll have the money to meet monthly payments. If you already looked into an FHA mortgage backed by Freddie Mac or Fannie Mae and realized it won’t work for you, keep looking.

What are the advantages of deciding to buy a home with this type of loan? One big advantage is the fact that you may not need to make a 20 percent down payment as you would with many traditional mortgages. A second advantage can be found in their higher limits; as an example, a homebuyer in Jefferson County would be able to finance a home that costs more than $765,600 with just one mortgage.

If that same homebuyer went with traditional mortgages, they would need several to cover the cost. Most people start looking into these loans because an FHA mortgage is not an option or an adjustable rate mortgage is not their first choice.

Is a jumbo loan in West Virginia a good idea for you? 

If you have a good or excellent credit score, a West Virginia jumbo loan might be a good idea to turn to. Because of the greater risk exposure experienced by lenders, jumbo loans have stricter requirements than conventional loans. Qualifying for a jumbo loan can help you buy a home you couldn’t get with a conventional loan, but it does mean you have to have good credit. 

When deciding on a jumbo loan, look at the overall state of your finances, as well. If you have enough cash on hand to put down a very large down payment on a conventional loan, then you might be able to enjoy a lower interest rate. Jumbo loans, on the other hand, have higher interest rates, but often require much less money down. By factoring in these issues, you can easily decide whether a West Virginia jumbo loan is good for you. 

If you’re looking to explore jumbo mortgage loans in other states, check out our national overview of jumbo loans as a starting point in your search.

Find a Jumbo Loan Specialist

Joshua Holt

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

Save more money than your friends

One email each week covers personal finance, financial independence, investing and other stuff for lawyers that makes you better.