Albertville FHA Loan Rates, Closing Costs & Stats

Albertville, AL

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Albertville's 69 lenders originated 358 FHA loans during 2024. The total origination value was $79,340,000, with an average FHA loan value of $221,620.

    Albertville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Albertville averaged 0.07% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Albertville's average FHA mortgage closing costs are $7,201.

    The average rate for the prior week (2025-06-27) was 6.46% and one month ago for the week of 2025-05-30, the average rate was 6.73%.

    The average rate one year ago was 6.75%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.2%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Albertville FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Albertville level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    CANOPY MORTGAGE, LLC 40 6.57% $11,210
    QUICKEN LOANS, LLC 31 6.44% $9,083
    UNITED WHOLESALE MORTGAGE, LLC 31 6.21% $9,294
    FirstBank 26 6.11% $9,136
    TJC Mortgage, Inc. 17 6.29% $9,587
    TOWNE MORTGAGE COMPANY 14 6.46% $8,099
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.69% $10,178
    Renasant Bank 13 5.98% $9,926
    First Federal Bank, A FSB 10 6.28% $8,192
    Victorian Finance, LLC 8 6.48% $10,881
    BROKER SOLUTIONS, INC. 7 6.64% $9,577
    Hamilton Mortgage Corporation 7 6.30% $7,412
    INSPIRE HOME LOANS INC. 7 5.64% $7,631
    The Loan Store, Inc. 7 6.32% $8,143
    MOVEMENT MORTGAGE, LLC 5 6.10% $14,120
    STOCKTON MORTGAGE CORPORATION 5 6.35% $9,728
    PENNYMAC LOAN SERVICES, LLC 4 6.56% $7,636
    FIRST COMMUNITY MORTGAGE, INC. 3 6.33% $7,645
    BancorpSouth 3 6.46% $6,854
    NEWREZ LLC 3 7.25% $10,464
    FREEDOM MORTGAGE CORPORATION 3 6.37% $12,542
    Flagstar Bank, FSB 3 6.81% $7,028
    Regions Bank 3 6.33% $12,099
    CROSSCOUNTRY MORTGAGE, LLC 2 6.63% $18,334
    Consumer First Mortgage, Inc. 2 6.44% $10,073
    ALAMEDA MORTGAGE CORPORATION 2 5.75% $13,348
    GMFS LLC 2 6.50% $14,584
    LAKEVIEW LOAN SERVICING, LLC 2 6.25% $7,143
    LOANDEPOT.COM, LLC 2 5.94% $9,654
    MORTGAGE INVESTORS GROUP, INC. 2 6.75% $9,195
    Mr. Cooper ( Nationstar Mortgage ) 2 6.38% $9,419
    Nations Lending Corporation 2 6.00% $19,385
    NFM, INC. 2 6.88% $7,792
    Prosperity Home Mortgage, LLC 2 5.44% $6,657
    REDSTONE Federal Credit Union 2 6.69% $6,447
    Total Media Management, LLC 2 6.81% $8,948
    Trustmark National Bank 2 6.13% $10,658
    UNION HOME MORTGAGE CORP. 2 7.06% $9,126
    VILLAGE CAPITAL MORTGAGE 2 6.31% $4,986
    AmeriHome Mortgage Company, LLC 1 6.75% $9,278
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $17,997
    AMERICAN FINANCING CORPORATION 1 6.25% $12,314
    CONTOUR MORTGAGE CORPORATION 1 6.75% $15,181
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.25% $14,768
    CMG MORTGAGE, INC. 1 6.13% $11,505
    Plains Commerce Bank 1 6.38% $7,589
    POLARIS HOME FUNDING CORP. 1 6.75% $9,084
    AMERICAN FINANCIAL NETWORK, INC. 1 7.50% $5,990
    CIS Financial Services, Inc. 1 5.38% $9,156
    Wells Fargo Bank 1 6.88% $7,424
    BETTER MORTGAGE CORPORATION 1 6.00% $13,581
    Assurance Financial Group, L.L.C. 1 6.75% $8,882
    RESIDENTIAL BANCORP 1 4.99% $13,613
    RUOFF MORTGAGE COMPANY, INC. 1 5.75% $8,468
    S1L, Inc. 1 6.25% $8,267
    SeaTrust Mortgage Company 1 5.75% $8,246
    GENEVA FINANCIAL, LLC 1 5.88% $17,792
    Arvest Bank 1 5.50% $9,424
    GUILD MORTGAGE COMPANY 1 7.13% $9,358
    EVERETT FINANCIAL, INC. 1 7.25% $11,653
    HOMESIDE FINANCIAL, LLC 1 6.75% $19,727
    ENDEAVOR CAPITAL, LLC. 1 6.38% $8,309
    ISERVE RESIDENTIAL LENDING, LLC 1 7.13% $16,046
    JPMorgan Chase Bank 1 6.25% $3,715
    The Federal Savings Bank 1 6.50% $7,218
    AMERISAVE MORTGAGE CORPORATION 1 6.13% $6,266
    MILEND, INC. 1 6.13% $10,151
    THE MORTGAGE LINK, INC. 1 5.50% $13,970
    EMM LOANS LLC 1 5.38% $20,613

    The top Albertville FHA lender as defined by loan originations is CANOPY MORTGAGE, LLC, with 40 FHA loans originated. Their average total fees are $11,210, which is $2,127 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Albertville FHA lenders (with over 10 loans originated) are TOWNE MORTGAGE COMPANY ($8,099), First Federal Bank, A FSB ($8,192), QUICKEN LOANS, LLC ($9,083), FirstBank ($9,136) and UNITED WHOLESALE MORTGAGE, LLC ($9,294).

    The lowest rate Albertville FHA lenders (with over 10 loans originated) are Renasant Bank (5.98%), FirstBank (6.11%), UNITED WHOLESALE MORTGAGE, LLC (6.21%), First Federal Bank, A FSB (6.28%) and TJC Mortgage, Inc. (6.29%).

    Albertville FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ALBERTVILLE, AL MARSHALL 2022 $420,680 $538,650 $651,050 $809,150
    ALBERTVILLE, AL MARSHALL 2023 $472,030 $604,400 $730,525 $907,900

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).