The Best Mortgage Lenders in Hundred, WV
Compare verified mortgage lenders serving Hundred, West Virginia. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Hundred
Featured Mortgage Lenders
WesBanco Mortgage Department
WesBanco Bank, Inc.
WesBanco is one of West Virginia's most established regional banks with deep roots in rural communities throughout the state. With multiple branches serving Wetzel County and surrounding areas, they have specialized expertise in rural property financing including USDA loans that are particularly relevant for Hundred residents. Their local loan officers understand the unique aspects of rural West Virginia real estate and offer personalized service with competitive rates for both purchase and refinance transactions.
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United Bank Mortgage Division
United Bank
United Bank maintains a strong presence throughout West Virginia with multiple locations serving rural communities. They have extensive experience with rural property loans and offer specialized USDA rural development programs that benefit residents in areas like Hundred. Their mortgage team provides local underwriting decisions and personalized guidance through the entire home financing process, with particular strength in first-time homebuyer programs and construction loans.
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Clear Mountain Bank Mortgage Services
Clear Mountain Bank
Clear Mountain Bank specializes in serving rural West Virginia communities and has particular expertise with properties in more remote areas like Hundred. They offer competitive rural housing loans including USDA programs and have local decision-making authority. Their mortgage team understands the unique challenges of rural property appraisals and financing, making them an excellent choice for Wetzel County residents seeking personalized service from a community-focused institution.
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Frequently Asked Questions
Common questions about mortgage lending in Hundred, WV
What are the typical down payment requirements for buying a home in Hundred, WV, given the lower average home prices?
In Hundred, where median home values are significantly below state and national averages, many conventional loans can be secured with a 3-5% down payment. For a home priced around $80,000, this means a down payment as low as $2,400 to $4,000. Local lenders are often familiar with appraisals in this market and can guide buyers on the most efficient use of their funds.
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Wetzel County or Hundred?
Yes, the West Virginia Housing Development Fund (WVHDF) offers several programs, like the Homeownership Program, which provides competitive interest rates and down payment/closing cost assistance to eligible first-time buyers in Hundred. Additionally, Wetzel County may have local initiatives or grants; it's advisable to check with the county commission or a local housing counselor for hyper-local opportunities.
How does the appraisal process work in Hundred's rural market, where comparable home sales can be sparse?
Appraisals in Hundred can be challenging due to fewer recent sales. Lenders often use appraisers familiar with the area who may need to expand the geographic range or time frame to find valid comparables. It's crucial for buyers to work with a local lender who understands this dynamic to ensure the appraisal accurately reflects the property's value and doesn't delay closing.
What type of property inspections are especially important when getting a mortgage for an older home in Hundred?
Beyond a standard home inspection, a thorough septic system inspection is critical, as many properties in Hundred are not connected to municipal sewer. Additionally, a well water test and a detailed review of the heating system (often older oil or propane systems) are highly recommended. Mortgage lenders may require these specific inspections to ensure the property is habitable and secure their investment.
Are USDA Rural Development loans a common and good option for mortgages in Hundred, WV?
Absolutely. Hundred is classified as a rural area by the USDA, making most buyers in the area eligible for USDA loans, which offer 100% financing (no down payment). This is an extremely popular and advantageous option here, as it removes the largest barrier to entry in the market. Income limits apply but are generous for the area, making many residents and families eligible.
Why Choose a Mortgage Lender in Hundred?
Local Market Knowledge
Lenders who understand Hundred's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in West Virginia.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Hundred and get competitive rates on your home loan.