Albertville FHA Loan Rates, Closing Costs & Stats
Albertville, AL
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 51 lenders originated 320 FHA loans during 2023. The total origination value was $63,430,000, with an average FHA loan value of $198,219.
Albertville FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Albertville
averaged
-0.01%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Albertville's average FHA mortgage closing costs are $6,747.
The average rate for the prior week (2024-11-22) was
6.39% and
one month ago for the week of 2024-10-25, the
average rate was 6.06%.
The average rate one year ago was 6.75%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.19%.
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.
The top Albertville FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
32 FHA loans originated. Their average total fees are
$7,019, which is $1,323
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Albertville FHA lenders (with over 10 loans originated) are
FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,019), QUICKEN LOANS, LLC ($8,342), Renasant Bank ($8,619), BROKER SOLUTIONS, INC. ($9,068) and GUARANTEED RATE, INC. ($9,186).
The lowest rate Albertville FHA lenders (with over 10 loans originated) are
BROKER SOLUTIONS, INC. (6.11%), GUARANTEED RATE, INC. (6.31%), FirstBank (6.36%), Victorian Finance, LLC (6.43%) and QUICKEN LOANS, LLC (6.47%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Albertville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $179,900 (5.9%) | $261,445 (4.7%) | 0.00 | 425 |
2018-02-01 | $170,000 (0.1%) | $260,392 (4.1%) | 0.00 | 419 |
2018-03-01 | $179,900 (2.8%) | $274,964 (5.2%) | 0.00 | 420 |
2018-04-01 | $184,900 (2.9%) | $274,759 (3.7%) | 0.00 | 419 |
2018-05-01 | $185,750 (0.8%) | $280,540 (3.9%) | 0.00 | 424 |
2018-06-01 | $198,950 (6.3%) | $282,349 (5.6%) | 0.00 | 416 |
2018-07-01 | $192,400 (3.2%) | $276,363 (3.5%) | 0.00 | 409 |
2018-08-01 | $189,025 (-1.0%) | $273,941 (0.9%) | 0.00 | 413 |
2018-09-01 | $195,700 (0.4%) | $277,743 (2.5%) | 0.00 | 425 |
2018-10-01 | $199,900 (6.7%) | $289,067 (6.7%) | 0.00 | 393 |
2018-11-01 | $222,400 (23.6%) | $302,120 (14.7%) | 0.00 | 360 |
2018-12-01 | $224,900 (24.1%) | $308,709 (18.0%) | 0.00 | 347 |
2019-01-01 | $219,500 (22.0%) | $296,894 (13.6%) | 0.00 | 363 |
2019-02-01 | $229,900 (35.2%) | $305,182 (17.2%) | 0.00 | 345 |
2019-03-01 | $229,921 (27.8%) | $305,448 (11.1%) | 0.00 | 351 |
2019-04-01 | $229,946 (24.4%) | $309,023 (12.5%) | 0.00 | 362 |
2019-05-01 | $229,200 (23.4%) | $315,337 (12.4%) | 0.00 | 370 |
2019-06-01 | $239,900 (20.6%) | $330,586 (17.1%) | 0.00 | 370 |
2019-07-01 | $233,975 (21.6%) | $326,257 (18.1%) | 0.00 | 365 |
2019-08-01 | $229,691 (21.5%) | $320,290 (16.9%) | 0.00 | 360 |
2019-09-01 | $229,302 (17.2%) | $316,945 (14.1%) | 0.00 | 342 |
2019-10-01 | $228,500 (14.3%) | $313,368 (8.4%) | 0.00 | 329 |
2019-11-01 | $229,900 (3.4%) | $315,503 (4.4%) | 0.00 | 315 |
2019-12-01 | $225,100 (0.1%) | $311,638 (1.0%) | 0.00 | 301 |
2020-01-01 | $222,288 (1.3%) | $309,768 (4.3%) | 0.00 | 278 |
2020-02-01 | $234,900 (2.2%) | $327,264 (7.2%) | 0.00 | 269 |
2020-03-01 | $236,900 (3.0%) | $337,032 (10.3%) | 0.00 | 281 |
2020-04-01 | $239,600 (4.2%) | $340,815 (10.3%) | 0.00 | 285 |
2020-05-01 | $240,000 (4.7%) | $346,849 (10.0%) | 0.00 | 270 |
2020-06-01 | $247,425 (3.1%) | $351,867 (6.4%) | 0.00 | 250 |
2020-07-01 | $238,775 (2.1%) | $353,787 (8.4%) | 0.00 | 216 |
2020-08-01 | $249,300 (8.5%) | $357,584 (11.6%) | 0.00 | 222 |
2020-09-01 | $246,925 (7.7%) | $352,856 (11.3%) | 0.00 | 208 |
2020-10-01 | $259,000 (13.4%) | $370,719 (18.3%) | 0.00 | 197 |
2020-11-01 | $249,925 (8.7%) | $356,694 (13.1%) | 0.00 | 193 |
2020-12-01 | $247,475 (9.9%) | $354,677 (13.8%) | 0.00 | 180 |
2021-01-01 | $249,000 (12.0%) | $354,585 (14.5%) | 0.00 | 169 |
2021-02-01 | $261,250 (11.2%) | $384,424 (17.5%) | 0.00 | 125 |
2021-03-01 | $262,400 (10.8%) | $405,454 (20.3%) | 0.00 | 110 |
2021-04-01 | $266,200 (11.1%) | $415,783 (22.0%) | 0.00 | 111 |
2021-05-01 | $299,900 (25.0%) | $427,828 (23.4%) | 0.00 | 129 |
2021-06-01 | $301,175 (21.7%) | $510,186 (45.0%) | 0.00 | 111 |
2021-07-01 | $289,900 (21.4%) | $476,312 (34.6%) | 0.00 | 130 |
2021-08-01 | $293,200 (17.6%) | $481,908 (34.8%) | 0.00 | 146 |
2021-09-01 | $272,450 (10.3%) | $435,546 (23.4%) | 0.00 | 142 |
2021-10-01 | $259,900 (0.4%) | $415,701 (12.1%) | 0.00 | 162 |
2021-11-01 | $284,250 (13.7%) | $457,375 (28.2%) | 0.00 | 159 |
2021-12-01 | $275,750 (11.4%) | $438,373 (23.6%) | 0.00 | 131 |
2022-01-01 | $284,400 (14.2%) | $488,481 (37.8%) | 0.00 | 118 |
2022-02-01 | $289,575 (10.8%) | $491,651 (27.9%) | 0.00 | 116 |
2022-03-01 | $307,425 (17.2%) | $496,518 (22.5%) | 0.00 | 126 |
2022-04-01 | $332,000 (24.7%) | $501,458 (20.6%) | 0.00 | 130 |
2022-05-01 | $357,925 (19.4%) | $532,533 (24.5%) | 0.00 | 143 |
2022-06-01 | $357,400 (18.7%) | $519,544 (1.8%) | 0.00 | 181 |
2022-07-01 | $339,450 (17.1%) | $489,579 (2.8%) | 0.00 | 198 |
2022-08-01 | $327,125 (11.6%) | $490,614 (1.8%) | 0.00 | 215 |
2022-09-01 | $319,900 (17.4%) | $488,196 (12.1%) | 0.00 | 219 |
2022-10-01 | $324,900 (25.0%) | $485,500 (16.8%) | 0.00 | 222 |
2022-11-01 | $359,990 (26.7%) | $505,232 (10.5%) | 0.00 | 220 |
2022-12-01 | $350,000 (26.9%) | $528,914 (20.7%) | 0.00 | 213 |
2023-01-01 | $351,823 (23.7%) | $522,657 (7.0%) | 0.00 | 216 |
2023-02-01 | $352,900 (21.9%) | $518,308 (5.4%) | 0.00 | 220 |
2023-03-01 | $354,900 (15.4%) | $497,517 (0.2%) | 0.00 | 227 |
2023-04-01 | $359,450 (8.3%) | $505,262 (0.8%) | 0.00 | 210 |
2023-05-01 | $359,870 (0.5%) | $503,808 (-5.4%) | 0.00 | 202 |
2023-06-01 | $365,950 (2.4%) | $518,367 (-0.2%) | 0.00 | 197 |
2023-07-01 | $379,900 (11.9%) | $537,460 (9.8%) | 0.00 | 196 |
2023-08-01 | $371,700 (13.6%) | $507,186 (3.4%) | 0.00 | 221 |
2023-09-01 | $366,995 (14.7%) | $504,110 (3.3%) | 0.00 | 246 |
2023-10-01 | $364,900 (12.3%) | $494,321 (1.8%) | 0.00 | 260 |
2023-11-01 | $357,200 (-0.8%) | $476,780 (-5.6%) | 0.00 | 278 |
2023-12-01 | $365,000 (4.3%) | $495,594 (-6.3%) | 0.00 | 268 |
2024-01-01 | $359,900 (2.3%) | $485,605 (-7.1%) | 0.00 | 245 |
2024-02-01 | $354,900 (0.6%) | $465,516 (-10.2%) | 0.00 | 259 |
2024-03-01 | $354,950 (0.0%) | $475,101 (-4.5%) | 0.00 | 250 |
2024-04-01 | $349,748 (-2.7%) | $459,532 (-9.1%) | 0.00 | 270 |
2024-05-01 | $347,175 (-3.5%) | $483,346 (-4.1%) | 0.00 | 306 |
2024-06-01 | $349,000 (-4.6%) | $480,289 (-7.4%) | 0.00 | 339 |
2024-07-01 | $329,450 (-13.3%) | $455,028 (-15.3%) | 0.00 | 385 |
2024-08-01 | $325,900 (-12.3%) | $448,934 (-11.5%) | 0.00 | 390 |
2024-09-01 | $315,475 (-14.0%) | $430,895 (-14.5%) | 0.00 | 423 |
2024-10-01 | $319,872 (-12.3%) | $436,232 (-11.8%) | 0.00 | 415 |
Albertville's median listing price comes in at 0% of the national average.
Albertville's average listing price for 2024-10-01 was $436,232, a difference of $-58,089 (-11.8%) versus the prior year and $5,337 versus the prior month.
For the 2024-10-01 period, Albertville had 415 MLS listings, a difference of -8 listings (-2%) versus the prior month and 155 listings (60%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Albertville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,077 sqft |
2018-02-01 | 0 days | 2,046 sqft |
2018-03-01 | 0 days | 2,100 sqft |
2018-04-01 | 0 days | 2,115 sqft |
2018-05-01 | 0 days | 2,100 sqft |
2018-06-01 | 0 days | 2,169 sqft |
2018-07-01 | 0 days | 2,068 sqft |
2018-08-01 | 0 days | 2,152 sqft |
2018-09-01 | 0 days | 2,189 sqft |
2018-10-01 | 0 days | 2,200 sqft |
2018-11-01 | 0 days | 2,287 sqft |
2018-12-01 | 0 days | 2,298 sqft |
2019-01-01 | 0 days | 2,213 sqft |
2019-02-01 | 0 days | 2,262 sqft |
2019-03-01 | 0 days | 2,293 sqft |
2019-04-01 | 0 days | 2,293 sqft |
2019-05-01 | 0 days | 2,332 sqft |
2019-06-01 | 0 days | 2,374 sqft |
2019-07-01 | 0 days | 2,381 sqft |
2019-08-01 | 0 days | 2,364 sqft |
2019-09-01 | 0 days | 2,367 sqft |
2019-10-01 | 0 days | 2,360 sqft |
2019-11-01 | 0 days | 2,290 sqft |
2019-12-01 | 0 days | 2,255 sqft |
2020-01-01 | 0 days | 2,185 sqft |
2020-02-01 | 0 days | 2,180 sqft |
2020-03-01 | 0 days | 2,274 sqft |
2020-04-01 | 0 days | 2,239 sqft |
2020-05-01 | 0 days | 2,209 sqft |
2020-06-01 | 0 days | 2,154 sqft |
2020-07-01 | 0 days | 2,194 sqft |
2020-08-01 | 0 days | 2,297 sqft |
2020-09-01 | 0 days | 2,281 sqft |
2020-10-01 | 0 days | 2,290 sqft |
2020-11-01 | 0 days | 2,236 sqft |
2020-12-01 | 0 days | 2,173 sqft |
2021-01-01 | 0 days | 2,164 sqft |
2021-02-01 | 0 days | 2,140 sqft |
2021-03-01 | 0 days | 2,174 sqft |
2021-04-01 | 0 days | 2,359 sqft |
2021-05-01 | 0 days | 2,246 sqft |
2021-06-01 | 0 days | 2,351 sqft |
2021-07-01 | 0 days | 2,290 sqft |
2021-08-01 | 0 days | 2,279 sqft |
2021-09-01 | 0 days | 2,178 sqft |
2021-10-01 | 0 days | 2,031 sqft |
2021-11-01 | 0 days | 2,200 sqft |
2021-12-01 | 0 days | 2,049 sqft |
2022-01-01 | 0 days | 2,070 sqft |
2022-02-01 | 0 days | 2,103 sqft |
2022-03-01 | 0 days | 2,148 sqft |
2022-04-01 | 0 days | 2,250 sqft |
2022-05-01 | 0 days | 2,224 sqft |
2022-06-01 | 0 days | 2,217 sqft |
2022-07-01 | 0 days | 2,198 sqft |
2022-08-01 | 0 days | 2,187 sqft |
2022-09-01 | 0 days | 2,217 sqft |
2022-10-01 | 0 days | 2,298 sqft |
2022-11-01 | 0 days | 2,265 sqft |
2022-12-01 | 0 days | 2,241 sqft |
2023-01-01 | 0 days | 2,294 sqft |
2023-02-01 | 0 days | 2,214 sqft |
2023-03-01 | 0 days | 2,200 sqft |
2023-04-01 | 0 days | 2,200 sqft |
2023-05-01 | 0 days | 2,214 sqft |
2023-06-01 | 0 days | 2,213 sqft |
2023-07-01 | 0 days | 2,190 sqft |
2023-08-01 | 0 days | 2,200 sqft |
2023-09-01 | 0 days | 2,200 sqft |
2023-10-01 | 0 days | 2,224 sqft |
2023-11-01 | 0 days | 2,161 sqft |
2023-12-01 | 0 days | 2,172 sqft |
2024-01-01 | 0 days | 2,177 sqft |
2024-02-01 | 0 days | 2,103 sqft |
2024-03-01 | 0 days | 2,056 sqft |
2024-04-01 | 0 days | 2,003 sqft |
2024-05-01 | 0 days | 1,996 sqft |
2024-06-01 | 0 days | 1,990 sqft |
2024-07-01 | 0 days | 1,971 sqft |
2024-08-01 | 0 days | 1,948 sqft |
2024-09-01 | 0 days | 1,950 sqft |
2024-10-01 | 0 days | 1,942 sqft |
Albertville's median square footage for active listings during the 2024-10-01 period was 1,942 sqft. One year prior, the average listing was 2,224 sqft.