How much do I need to put down on a condo or townhome in Morgantown, WV?

20% is the working minimum on a DSCR loan for this product — about $43,200 at the $216,000 price point modeled here — plus closing costs of roughly 2%–4% and three to six months of PITIA in reserves ($4,913 to $9,825). Putting more down improves the ratio and moves you into a better pricing tier, which is often the cheapest way to buy down the rate.

What DSCR ratio does a condo or townhome in Morgantown hit?

At the median basis modeled on this page, roughly 1.01x — $1,659 of creditable monthly income against $1,638 of PITIA. Most lenders want 1.0x or better for base pricing, several fund to 0.75x with a rate add-on, and no-ratio products exist for files that do not cash-flow at all. The ratio is property-specific, so the number on your address will differ.

Can I close a condo or townhome in Morgantown in an LLC?

Yes. DSCR loans are business-purpose loans, so title in an LLC, LP or trust is standard and does not change pricing. You will personally guarantee the note and provide the operating agreement, EIN and certificate of good standing. Conventional investor financing does not allow entity title, which is one of the main reasons investors choose DSCR even when they could document income.

Does the HOA affect whether my Morgantown condo qualifies?

In two ways. The dues sit in the DSCR denominator — the $240/month allowance modeled here directly lowers the ratio — and the project itself must clear a warrantability review covering owner-occupancy ratio, investor concentration, delinquency rate, reserve funding and litigation. Request the HOA questionnaire and reserve study during your inspection period.

Condo & Townhome · Morgantown, WV

Condo & Townhome Financing in Morgantown, WV

Estimated 1.01x DSCR on a $216,000 condo or townhome with $43,200 down — qualified on the property's income, not your tax returns.

Modeled Purchase Price

$216,000

20% Down

$43,200

Loan Amount

$172,800

Est. Monthly PITIA

$1,638

Est. Monthly Rent

$1,659/mo

Est. DSCR Ratio

1.01x

Condo & Townhome investing in Morgantown

Condos and townhomes are the lowest-basis way into the Morgantown rental market, and the trade is that a second set of underwriting rules applies to the building, not just to you. Every DSCR condo file in West Virginia runs a project review: owner-occupancy ratio, investor concentration, HOA delinquency rate, reserve funding, and any pending litigation or special assessment.

At the Morgantown median of $300,000, a condo or townhome prices near $216,000, roughly a quarter under the detached median. Minimum down is 20% ($43,200), leaving a loan of $172,800. Estimated all-in PITIA runs about $1,638 per month, and that figure already carries an HOA allowance of $240/month — HOA dues count in the DSCR denominator, which is exactly why condo files that look cheap on price often ratio worse than a detached comp.

The Morgantown ratio math on this product

A long-term lease on the attached product should produce roughly $1,659/month. Against a PITIA of $1,638, that is an estimated DSCR ratio of 1.01x. That clears the 1.0 minimum most DSCR shelves require for base pricing, but the cushion is thin. Stress-test a tax reassessment and an insurance renewal before you write the offer.

Underwriting notes specific to attached product: warrantability drives pricing. A non-warrantable project — high investor concentration, a single owner holding more than 20% of units, litigation, or thin reserves — moves the file to a portfolio shelf with a larger down payment and a rate add-on. Pull the HOA questionnaire, budget and reserve study during your inspection period, not after.

Returns and structure

Return metrics at the Morgantown median for this product: an estimated cap rate of 5.71%, and monthly cash flow of $21 positive at 20% down. A file that cash-flows at the minimum down payment is the exception in West Virginia right now, and it gives you room to absorb an insurance renewal without going to the reserve account.

Morgantown property types compared

Property Type	Modeled Price	Min. Down	Est. Income	Est. DSCR
Single-Family Rental	$300,000	20% ($60,000)	$2,100/mo	1.08x
2–4 Unit Multi-Family	$474,000	25% ($118,500)	$3,906/mo	1.33x
Condo & Townhome (this page)	$216,000	20% ($43,200)	$1,659/mo	1.01x
Short-Term Rental	$300,000	25% ($75,000)	$3,258/mo	1.76x

All figures model a purchase at the Morgantown median of $300,000 with the property-type adjustments described above, at an illustrative 7.50% DSCR rate on a 30-year fixed. Short-term rental income is shown after the standard lender haircut.

Figures on this page are modeled estimates derived from the Morgantown median price and market rent, adjusted for condo or townhome product characteristics. They are illustrative, not a loan offer or an appraisal. Actual pricing, rent, taxes, insurance, HOA dues and DSCR depend on the specific property and on conditions at the time of application.

Morgantown Condo & Townhome FAQ

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Single-Family Rental in Morgantown

1.08x est. DSCR

2–4 Unit Multi-Family in Morgantown

1.33x est. DSCR

Short-Term Rental in Morgantown

1.76x est. DSCR

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