Putnam County Mortgage Hub: Teays Valley, Hurricane and Winfield Move-Up, FHA and USDA Loans — Hollerbright
Updated October 2026
Moving from a starter home into Teays Valley often creates two financing questions at once: how much equity will the sale release, and how much cash must be available before it closes? Buyers comparing Hurricane, Winfield and Scott Depot should map that timing before committing to a larger payment or a noncontingent purchase contract.
Choose financing around the address and household
Putnam County’s 2026 conforming loan limit is $832,750, while the FHA floor is $541,287. These are mortgage limits, not automatic purchase-price ceilings. A down payment can support a purchase price above the financed amount.
| Financing route | Question to resolve first |
|---|---|
| Conventional | How do credit, down payment and mortgage insurance affect total cost? |
| FHA | Does the payment remain attractive after upfront and annual mortgage insurance? |
| USDA | Are both the property address and household income eligible? |
| WVHDF Movin’ Up | Does the household meet current income and purchase requirements? |
Do not assume every Teays Valley subdivision qualifies for USDA because the surrounding county includes rural land. Eligibility is address-specific. Verify the applicable federal ceilings through FHFA Loan Limits and HUD FHA Mortgage Limits.
Coordinate sale proceeds and assistance
The West Virginia Housing Development Fund offers Movin’ Up for eligible moderate-income and repeat buyers. Its Homeownership Program follows different first-time-buyer and targeted-county rules. Compare both before assuming prior ownership eliminates assistance.
The Low Down Home Loan provides eligible down-payment or closing-cost financing at 2% interest over 15 years, with applicable limits of $7,500 or $10,000. Include its repayment in the budget alongside any temporary overlap between the old and new mortgages.
Seller proceeds also need a realistic transfer-tax allowance. West Virginia’s state component is $2.20 per $500, with county charges commonly adding $1.10 to $1.65 per $500. The combined range is roughly $6.60 to $7.70 per $1,000, customarily paid by the seller.
Test the move-up payment before listing
Run the proposed purchase through Hollerbright’s monthly payment calculator, including taxes, insurance and any homeowners association dues. Use the closing cost estimator separately for acquisition cash. If the plan requires selling first, compare net proceeds after payoff and selling expenses with the funds needed for earnest money, inspections and closing. A workable purchase budget must survive the calendar, not just the interest-rate calculation.
Compare Current Mortgage Rates
Compare current APRs, points, fees, and estimated monthly payments from participating lenders below.
Loan Program Comparison: 2026 Benchmarks
Putnam County Mortgage Hub: Teays Valley, Hurricane and Winfield Move Up, FHA and USDA Loans — Compare the 3.5% down option at 580+ FICO with 10% at 500–579, lender overlays, 1.75% upfront MIP and the applicable annual MIP tier.
Historical 2025 one-unit comparison: conforming $832,750; FHA floor $541,287. County and unit-count limits can differ.
| Loan program | Down payment / equity | 2026 one-unit baseline | Costs and page-specific comparison |
|---|---|---|---|
| FHA | 3.5% at 580+; 10% at 500–579 | $541,287 floor | 1.75% upfront MIP; 0.55% annual for >95% LTV, base loan ≤$726,200, term >15 years |
| Conventional | 3%–5% subject to eligibility | $832,750 | PMI generally below 20% down |
| VA | 0% for eligible borrowers | No VA limit with full entitlement | No monthly PMI; funding fee unless exempt |
| USDA | 0% for eligible borrowers | Income, address and repayment eligibility | Guarantee and annual fees; confirm current schedule |
| Jumbo | Lender-specific cash and reserves | Above applicable conforming limit | Lender-specific pricing and insurance |
| Home Equity / Refinance | Equity and underwriting dependent | Property and lender dependent | Compare closing costs, term and break-even |
Sources: FHFA limits; HUD FHA limits.
Editorial Methodology & Primary Sources
Verification date: Not recorded; check the primary source and lender timestamp before relying on an estimate.
Rate comparisons use participating lender feeds, not a whole-market survey or guaranteed offers. Freddie Mac PMMS is a market benchmark, not a personalized quote. Calculator models rely on published regulatory formulas and disclosed assumptions rather than fabricated first-person loan testing.
Monthly principal and interest use the amortization formula P × r / (1 − (1 + r)−n), where r is the monthly note rate and n is the number of payments; at zero interest use P / n. PITI adds monthly property taxes and homeowners insurance; PMI is separate. APR includes applicable finance charges under Regulation Z and is not the note rate used for payments. Compare lender Loan Estimates for actual APR and fees.
- Consumer Financial Protection Bureau (CFPB) — Loan Estimates, APR and borrower disclosures; Regulation Z.
- U.S. Department of Housing and Urban Development (HUD / FHA) — FHA program guidance.
- U.S. Department of Veterans Affairs (VA) — VA loan eligibility and benefits.
- Freddie Mac Primary Mortgage Market Survey (PMMS) — published rate benchmarks.
- U.S. Census state tax collections — state property tax benchmarks; confirm parcel-specific assessments and exemptions with the state revenue department and local assessor.
- West Virginia Housing Development Fund — state housing finance and property tax authority.
- West Virginia Tax Division — state housing finance and property tax authority.
The payment snapshot uses illustrative annual taxes of 1% of home price, $1,200 insurance and 0.5% PMI below 20% down, not verified local quotes. Other calculators disclose their inputs and assumptions. Published guidance and lender feeds may change independently; confirm current program rules, taxes and offers before a decision.