Can I Afford a $200K Home in West Virginia?
Complete mortgage breakdown for a $200,000 home in West Virginia, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$1,271/mo
P&I: $1,051 + Tax: $95 + Insurance: $125
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $6,000 | $1,575 | $67,512 |
| 5% | $10,000 | $1,547 | $66,314 |
| 10% | $20,000 | $1,477 | $63,320 |
| 20% | $40,000 | $1,271 | $54,475 |
Monthly Cost Breakdown (West Virginia)
Principal & Interest
$1,051/mo
Property Tax (0.57%)
$95/mo
Homeowners Insurance
$125/mo
Total Interest (30-yr)
$218,391
Affordability Rules of Thumb
28% Rule (Housing)
$54,475/yr
Minimum gross income
36% Rule (All Debt)
$42,370/yr
If no other debt
3Ã Income Rule
$66,667/yr
Conservative target
Buying a $200K Home in West Virginia
A $200,000 home in West Virginia is at or below the national median home price. With a 20% down payment of $40,000, your estimated monthly payment of $1,271 is achievable on a salary of $54,475 or more. West Virginia's property tax rate of 0.57% is relatively low, helping keep costs down.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in West Virginia.