Areas We Serve

Griffin Funding proudly offers VA loans in Charleston, WV, and across the entire state of West Virginia, ensuring veterans and military families can access home financing wherever they live. No matter where you are in West Virginia, Griffin Funding is committed to providing VA loan options that meet your needs.

Here are some of the major cities we serve:

  • Charleston
  • Huntington
  • Morgantown
  • Parkersburg
  • Wheeling
  • Weirton
  • Fairmont
  • Beckley

How Do VA Home Loans Work in West Virginia?

VA loan is a type of mortgage insured by the U.S. Department of Veterans Affairs (VA). This loan program supports veterans, active-duty service members, and eligible surviving spouses in purchasing, constructing, and refinancing a home.

Since the government guarantees up to 25% of the VA loan amount, lenders face less risk and are thus able to offer better terms to borrowers. VA loans boast low interest rates, low to no down payment requirements, and flexible credit qualification criteria. For those who qualify, it’s difficult to find a better mortgage option, whether you’re looking to buy or refinance.

What Is the VA Loan Limit in West Virginia?

In West Virginia, VA loan limits specify the maximum loan amount the VA will guarantee without requiring a down payment, varying by county and local cost of living. These limits only impact borrowers with partial entitlement, not those with full entitlement.

In West Virginia, the standard VA loan limit in 2024 is $766,550 across most areas. However, in Jefferson County, where the cost of living is higher, the VA loan limit is $1,149,825. .

Remember that these limits only apply to veterans with partial entitlement. As of 2020, there is no VA loan limit for veterans with full entitlement, which means they can borrow as much as a lender is willing to approve without a down payment, subject to their credit and income qualifications.

Benefits of VA Home Loans

VA home loans in West Virginia provide a range of advantages for veterans, active-duty service members, and eligible surviving spouses, making homeownership more accessible and affordable.

  • No down payment required: Eligible borrowers can purchase homes without a down payment, simplifying the process of buying a home.
  • Lower interest rates: VA loans often have lower interest rates than conventional loans, leading to smaller monthly payments and savings over the loan term.
  • PMI exemption: VA loan recipients are not required to pay private mortgage insurance, which is typically mandatory for other loans with less than a 20% down payment.
  • Easier qualification: The VA loan program has more forgiving credit requirements, facilitating easier qualification for veterans.
  • Multiple uses: Veterans can use their VA loan benefits more than once if any previous VA loans are paid off or assumed by other qualified veterans.
  • Support programs: The VA provides foreclosure avoidance assistance for borrowers facing financial hardship, offering essential support when needed.

Veterans can also take advantage of VA loan points, which enable them to lower their interest rates by paying additional points upfront at closing.

Types of VA Loans We Offer

Griffin Funding provides a variety of VA loans to cater to the unique needs of West Virginia’s veterans. Here’s an overview of the different VA mortgage loans in West Virginia available:

  • VA Purchase Loan: This popular VA loan is designed for purchasing a new home. When you take out a VA purchase loan, you will benefit from highly competitive rates and no down payment requirement.
  • VA Streamline Refinance (IRRRL): The Interest Rate Reduction Refinance Loan allows those with existing VA loans to refinance to a lower interest rate with minimal hassle and reduced costs.
  • VA Cash-Out Refinance: This option allows veterans to refinance their mortgage and leverage their home equity to get cash. In addition to replacing your current mortgage, a cash-out refinance provides you with money that can be put towards renovations, home improvement projects, debt consolidation, and all kinds of major expenses.

If a VA loan does not seem like the right option for you, DSCR loans in West Virginia can greatly benefit veterans by allowing them to qualify for loans based on the rental income of investment properties rather than their personal income. This can help veterans expand their real estate portfolios and achieve greater financial independence.

VA Loan Requirements in West Virginia

VA loan requirements in West Virginia involve meeting several essential criteria. By understanding these criteria and loan options, West Virginia veterans and service members can make informed decisions about their home financing needs.

  • Service status: Veterans must meet minimum service requirements, which vary based on their service dates.
  • Credit and income requirements: Although VA loans have more lenient credit standards, applicants must maintain a minimum credit score and demonstrate a stable income to repay the loan.
  • Certificate of Eligibility (COE): Applicants must obtain a COE, which verifies to lenders that they meet the VA loan service requirements.
  • Property requirements: The purchased home must be intended as the primary residence and meet specific safety and livability standards.

Get Pre-Approved With a Leading VA Mortgage Lender in WV

At Griffin Funding, the foundation of what we do is assist West Virginia’s veterans and service members in fully utilizing the benefits of VA loans. Our experienced team ensures a smooth process, allowing you to concentrate on finding your ideal home.

By partnering with Griffin Funding, you gain a trusted ally in securing your VA loan and achieving your homeownership dreams. We serve veterans across West Virginia, from major cities to rural communities. Use our Griffin Gold app to streamline the lending process while managing your finances, leveraging smart budgeting tools, and getting personalized support from a mortgage professional. We aim to make homeownership straightforward, affordable, and accessible for veterans.

Work with Griffin Funding today to begin your VA loan application and take the first step toward owning your dream home in West Virginia.