Purchasing a home in West Virginia
West Virginia refinance

West Virginia real estate and title settlement attorney

West Virginia charges state transfer stamps of 4.40 or 6.60 per thousand based on the sales price.  Buyer usually pays this when it is new construction... carefully read your contract.  Below are the state transfer stamps charged, depending on which West Virginia county you are purchasing a home in.

Title Insurance premiums:
Lender's Policy                                    $2.90 per thousand up to $100,000
                                                            $1.50 over $100,000

Owner's Policy                                    

Refinance- generally 30% reissue on Title premium based on what was paid in title insurance at previous settlement when less than 10 years ago.  You must have a hard copy of your Owner's Policy of Title Insurance to give to the settlement company to receive this discounted re-issue rate.  See refinance mistakes to avoid..

Typical settlement company will charge the following:

West Virginia counties
Barbour
$4.40  Mineral $6.60
Berkeley
$6.60  Mingo $6.60
Boone
$4.40  Monongalia $4.40
Braxton
$4.40 Monroe $6.60
Brooke
$4.40 Morgan $6.60
Cabell
$4.40 Nicholas $6.60
Calhoun
$4.40 Ohio $4.40
Clay
$4.40 Pendleton $6.60
Doddridge
$4.40 Pleasants $4.40
Fayette
$6.60   Pocahantas $6.60
Gilmer
$4.40 Preston $6.60
Grant
$6.60   Putnam $4.40
Greenbrier
$6.60 Raleigh $4.40
Hampshire
$6.60 Randolph $4.40
Hancock
$4.40   Ritchie   $4.40
Hardy
$6.60 Roane $4.40
Harrison
$4.40 Summers $6.60
Jackson
$4.40 Taylor $4.40
Jefferson
$6.60 Tucker $4.40
Kanawha
$4.40 Tyler $4.40
Lewis
$4.40   Upshur $4.40
Lincoln
$4.40 Wayne $4.40
Logan
$4.40 Webster $4.40
Marion
$4.40    Wetzel $4.40
Marshall
$4.40 Wirt   $4.40
Mason
$4.40 Wood $4.40
McDowell
$4.40   Wyoming $4.40
Mercer
$4.40    


BUYER
Settlement
$200
Title Exam
$300
Title Binder
$125
Recording Fee
$36
Archive and FedEx
$28

SELLER
Settlement
$200
Document Preparation
$200
Archive and FedEx
$15

REFINANCE
Settlement
$300
Title Update
$175
Title Binder
$125
Document Preparation
$25 per release
Recording Fee
$30 for each Deed
Archive and FedEx
$47

HOME EQUITY LOAN, SECOND TRUST
Settlement
$150
Title Update
$175
Title Binder
$125
Doc Prep
$25 per release
Recording Fee
$25
Archive and FedEx
$32

West Virginia refinance
Licensees who charge loan origination fees, investigative fees, or points or any combination may not charge them in any refinancing of that loan or any additional loan, relating to the same property, within twenty-four months of the date of the original loan.  However, if the refinancing results in a reasonable tangible net benefit to the borrower, considering all the circumstances, then the licensee may participate in a refinancing.  Each borrower must receive a copy of this form (see below) at or before the loan closing for such refinancing. The original of this form must be retained in the licensee’s loan file for 3 years after date of the refinancing. 
5
5

West Virginia Division of Banking
Tangible Net Benefit Worksheet

The Following worksheet must be used in the determination of a borrower’s tangible net benefit as the benefit relates directly to the new loan extended. Additional information may be provided on supplemental sheets or on the reverse if the fields below are insufficient. Questions regarding this form should be directed to the Division of Banking at (304) 558-2294.

Was the previous loan provided by the licensee or a related entity or affiliate of the licensee? ____Yes           ____No
If No, the licensee is not required to fill in the following fields pertaining to the previous loan: Debt to Income Level, Loan to Value, and Loan Purpose.
If Loan Amount of previous loan is unknown, you may substitute with the Loan Payoff as long as it is clearly identified as such.

Licensee: ________________________        
License Number: ________
_________

Loan Originator/Processor: ______________________
Borrower Name(s): ________________________________________________
Property Address: _________________________________________________

LOAN INFORMATION

 

NEW LOAN

PREVIOUS LOAN

LOAN DATE

 

 

LOAN AMOUNT

 

 

LOAN TERM

 

 

TYPE OF LOAN
(Circle One)

Fixed Rate  Adjustable Rate    Balloon

Fixed Rate     Adjustable Rate       Balloon

LOAN RATE

 

 

PAYMENT AMOUNT

 

 

PREPAYMENT PENALTY
PROVISION

 

 

LOAN TO VALUE

 

 

DEBT TO INCOME LEVEL

 

 

LOAN PURPOSE
Must be specific and relate to distribution of loan proceeds

 

 

LOAN ORIGINATOR TO COMPLETE:
The borrower received the following described tangible, net benefit through a refinancing of this loan or an addition loan secured by this borrower's same property?
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________
_______________________________________________________________________

 

Signature:   _____________________________    Date: _________________

Print: __________________________________

Approved By: ____________________________
                                    Manager/Officer
Print: __________________________________

 

BORROWER CERTIFICATION:

I understand that my broker and/or lender must show that I have received a reasonable, tangible net benefit by refinancing this loan or obtaining additional loan on my property when a new or addition loan is made within a twenty-four month period.  I affirm that the tangible net benefit of my new loan has been explained. Finally, I understand and confirm the benefit.

 

Borrower: _____________________________          Date: _____________
Borrower: ______________________________        Date: _____________

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West Virginia real estate and title settlement attorney
American National Title Corporation
809 Gleneagles Court, Suite 101
Towson, Maryland 21286
410-494-0380
www.antitlecorp.com

 

Maryland closing costs
Virginia closing costs
Washington, D.C. closing costs
Delaware closing costs

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