Anniston FHA Loan Rates, Closing Costs & Stats

ANNISTON-OXFORD, 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.

Anniston's 73 lenders originated 436 FHA loans during 2023. The total origination value was $74,380,000, with an average FHA loan value of $170,596.

Anniston FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Anniston averaged 0.07% for the week of 2024-11-29, compared to the national average (all FHA variants) of 0% for the same period.

Anniston's average FHA mortgage closing costs are $6,114.

The average rate for the prior week (2024-11-22) was 6.46% and one month ago for the week of 2024-10-25, the average rate was 6.24%.

The average rate one year ago was 6.93%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.1%.

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

Anniston 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 Anniston level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 70 6.81% $7,384
QUICKEN LOANS, LLC 50 6.44% $8,836
GUILD MORTGAGE COMPANY 27 6.71% $7,872
Ameris Bank 25 6.75% $9,238
UNITED WHOLESALE MORTGAGE, LLC 21 6.06% $10,866
VANDERBILT MORTGAGE AND FINANCE, INC. 20 6.88% $6,657
SUCCESS MORTGAGE PARTNERS, INC. 19 6.88% $7,910
SouthPoint Bank 16 6.30% $4,161
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 12 6.59% $10,564
ACOPIA, LLC 7 7.25% $7,910
FREEDOM MORTGAGE CORPORATION 6 6.92% $12,655
Equity Prime Mortgage LLC 6 6.67% $6,176
HUNT MORTGAGE CORPORATION 6 6.38% $9,579
Regions Bank 5 6.70% $6,782
AMERISAVE MORTGAGE CORPORATION 5 5.75% $13,691
Renasant Bank 5 6.98% $6,816
PENNYMAC LOAN SERVICES, LLC 5 6.15% $9,677
Mr. Cooper ( Nationstar Mortgage ) 5 6.10% $12,847
LOANDEPOT.COM, LLC 5 6.45% $10,382
Plains Commerce Bank 4 6.41% $8,860
CROSSCOUNTRY MORTGAGE, LLC 4 7.34% $7,973
BancorpSouth 4 6.59% $5,608
FIRST COMMUNITY MORTGAGE, INC. 4 7.31% $6,838
First Federal Bank, A FSB 3 5.71% $9,670
BROKER SOLUTIONS, INC. 3 6.92% $9,641
MOVEMENT MORTGAGE, LLC 3 6.83% $8,083
NEWREZ LLC 3 6.25% $7,694
ZILLOW HOME LOANS, LLC 3 6.46% $8,655
HOMESTAR FINANCIAL CORPORATION 2 6.19% $3,430
ROYAL UNITED MORTGAGE LLC 2 6.00% $9,352
Assurance Financial Group, L.L.C. 2 6.06% $9,145
STOCKTON MORTGAGE CORPORATION 2 7.00% $9,623
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 7.13% $4,208
MORTGAGE INVESTORS GROUP, INC. 2 6.56% $6,985
Mortgage Research Center, LLC 2 7.44% $3,099
Carrington Mortgage Services, LLC 2 5.63% $10,547
MID AMERICA MORTGAGE, INC. 2 8.38% $5,996
CHURCHILL MORTGAGE CORPORATION 2 6.37% $13,084
MILEND, INC. 2 6.63% $8,285
Blue Ridge Bank 2 6.87% $7,219
BAYSHORE MORTGAGE FUNDING, LLC 2 7.13% $5,166
DAS Acquisition Company, LLC 2 6.81% $8,886
AlaTrust Credit Union 1 6.99% $6,968
M&T Bank 1 5.75% $6,322
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $12,503
NBKC BANK 1 6.50% $7,403
Wells Fargo Bank 1 6.63% $5,679
CANOPY MORTGAGE, LLC 1 7.25% $6,259
PLAZA HOME MORTGAGE, INC. 1 6.25% $12,590
Presidential Bank, FSB 1 7.50% $8,776
Barrington Bank & Trust Company, N.A. 1 6.25% $9,984
SUN WEST MORTGAGE COMPANY, INC. 1 5.63% $5,850
The Federal Savings Bank 1 6.25% $11,689
TJC Mortgage, Inc. 1 7.25% $6,454
Truist 1 6.70% $4,470
Trustmark National Bank 1 6.88% $7,332
AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $4,884
FBC MORTGAGE, LLC 1 7.75% $9,473
EMM LOANS LLC 1 5.75% $16,784
ACADEMY MORTGAGE CORPORATION 1 6.25% $10,253
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.63% $5,628
CRESCENT MORTGAGE COMPANY 1 6.63% $4,827
Hamilton Mortgage Corporation 1 6.50% $4,472
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.99% $14,883
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 7.13% $8,067
HOMEXPRESS MORTGAGE CORP. 1 6.38% $10,929
CMG MORTGAGE, INC. 1 7.25% $8,120
INTERCAP LENDING INC. 1 7.63% $7,203
LAKEVIEW LOAN SERVICING, LLC 1 5.25% $11,897
Liberty Mortgage Corporation 1 7.75% $8,205
Citizens Bank 1 6.63% $7,366
LOANPAL, LLC 1 6.50% $7,235
MORTGAGE ACCESS CORP. 1 7.13% $10,500

The top Anniston FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 70 FHA loans originated. Their average total fees are $7,384, which is $1,452 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Anniston FHA lenders (with over 10 loans originated) are SouthPoint Bank ($4,161), VANDERBILT MORTGAGE AND FINANCE, INC. ($6,657), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,384), GUILD MORTGAGE COMPANY ($7,872) and SUCCESS MORTGAGE PARTNERS, INC. ($7,910).

The lowest rate Anniston FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.06%), SouthPoint Bank (6.30%), QUICKEN LOANS, LLC (6.44%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.59%) and GUILD MORTGAGE COMPANY (6.71%).

Anniston FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Anniston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $119,900 (9.1%) $152,178 (7.0%) 0.00 482
2018-02-01 $118,250 (0.7%) $148,230 (0.1%) 0.00 504
2018-03-01 $119,250 (-0.5%) $150,358 (-1.6%) 0.00 491
2018-04-01 $119,925 (-0.9%) $155,667 (1.6%) 0.00 477
2018-05-01 $121,450 (1.3%) $159,421 (5.2%) 0.00 465
2018-06-01 $124,900 (4.1%) $159,461 (4.3%) 0.00 476
2018-07-01 $125,975 (0.8%) $157,995 (2.0%) 0.00 489
2018-08-01 $124,900 (0.0%) $153,433 (-1.8%) 0.00 509
2018-09-01 $124,900 (5.0%) $152,804 (0.8%) 0.00 495
2018-10-01 $124,900 (7.8%) $158,790 (4.5%) 0.00 480
2018-11-01 $125,000 (5.0%) $164,160 (8.6%) 0.00 461
2018-12-01 $125,000 (4.2%) $166,912 (8.9%) 0.00 449
2019-01-01 $119,800 (-0.1%) $162,130 (6.5%) 0.00 436
2019-02-01 $119,900 (1.4%) $163,701 (10.4%) 0.00 406
2019-03-01 $123,029 (3.2%) $169,435 (12.7%) 0.00 381
2019-04-01 $128,550 (7.2%) $174,725 (12.2%) 0.00 368
2019-05-01 $133,450 (9.9%) $180,892 (13.5%) 0.00 375
2019-06-01 $134,950 (8.1%) $182,809 (14.6%) 0.00 372
2019-07-01 $144,150 (14.4%) $189,453 (19.9%) 0.00 376
2019-08-01 $142,200 (13.9%) $186,627 (21.6%) 0.00 390
2019-09-01 $138,150 (10.6%) $182,175 (19.2%) 0.00 401
2019-10-01 $135,900 (8.8%) $179,878 (13.3%) 0.00 408
2019-11-01 $135,500 (8.4%) $182,411 (11.1%) 0.00 389
2019-12-01 $139,575 (11.7%) $182,975 (9.6%) 0.00 380
2020-01-01 $139,450 (16.4%) $182,927 (12.8%) 0.00 380
2020-02-01 $140,000 (16.8%) $183,249 (11.9%) 0.00 388
2020-03-01 $139,950 (13.8%) $185,265 (9.3%) 0.00 357
2020-04-01 $139,900 (8.8%) $181,491 (3.9%) 0.00 359
2020-05-01 $139,900 (4.8%) $178,863 (-1.1%) 0.00 347
2020-06-01 $139,900 (3.7%) $185,223 (1.3%) 0.00 316
2020-07-01 $141,225 (-2.0%) $184,666 (-2.5%) 0.00 321
2020-08-01 $150,200 (5.6%) $189,844 (1.7%) 0.00 274
2020-09-01 $153,675 (11.2%) $195,376 (7.3%) 0.00 233
2020-10-01 $154,900 (14.0%) $197,226 (9.6%) 0.00 222
2020-11-01 $159,900 (18.0%) $198,266 (8.7%) 0.00 199
2020-12-01 $150,150 (7.6%) $185,026 (1.1%) 0.00 199
2021-01-01 $149,900 (7.5%) $188,349 (3.0%) 0.00 184
2021-02-01 $153,900 (9.9%) $181,095 (-1.2%) 0.00 172
2021-03-01 $154,900 (10.7%) $183,937 (-0.7%) 0.00 149
2021-04-01 $167,450 (19.7%) $211,619 (16.6%) 0.00 131
2021-05-01 $164,950 (17.9%) $208,164 (16.4%) 0.00 131
2021-06-01 $164,950 (17.9%) $203,238 (9.7%) 0.00 140
2021-07-01 $179,900 (27.4%) $215,237 (16.6%) 0.00 155
2021-08-01 $178,400 (18.8%) $223,495 (17.7%) 0.00 163
2021-09-01 $187,400 (22.0%) $230,843 (18.2%) 0.00 166
2021-10-01 $179,900 (16.1%) $235,935 (19.6%) 0.00 158
2021-11-01 $189,675 (18.6%) $238,366 (20.2%) 0.00 165
2021-12-01 $173,700 (15.7%) $242,192 (30.9%) 0.00 157
2022-01-01 $166,000 (10.7%) $231,041 (22.7%) 0.00 153
2022-02-01 $158,650 (3.1%) $206,191 (13.9%) 0.00 155
2022-03-01 $146,175 (-5.6%) $204,752 (11.3%) 0.00 146
2022-04-01 $153,500 (-8.3%) $201,257 (-4.9%) 0.00 153
2022-05-01 $164,950 (0.0%) $212,315 (2.0%) 0.00 170
2022-06-01 $178,450 (8.2%) $215,451 (6.0%) 0.00 190
2022-07-01 $175,000 (-2.7%) $203,109 (-5.6%) 0.00 220
2022-08-01 $182,650 (2.4%) $214,199 (-4.2%) 0.00 230
2022-09-01 $185,575 (-1.0%) $221,363 (-4.1%) 0.00 231
2022-10-01 $187,450 (4.2%) $238,103 (0.9%) 0.00 233
2022-11-01 $187,050 (-1.4%) $243,385 (2.1%) 0.00 243
2022-12-01 $179,000 (3.1%) $238,517 (-1.5%) 0.00 231
2023-01-01 $182,999 (10.2%) $242,261 (4.9%) 0.00 208
2023-02-01 $173,775 (9.5%) $241,285 (17.0%) 0.00 197
2023-03-01 $178,875 (22.4%) $251,455 (22.8%) 0.00 163
2023-04-01 $179,450 (16.9%) $251,262 (24.9%) 0.00 174
2023-05-01 $197,675 (19.8%) $259,884 (22.4%) 0.00 181
2023-06-01 $194,450 (9.0%) $252,704 (17.3%) 0.00 175
2023-07-01 $199,900 (14.2%) $259,247 (27.6%) 0.00 195
2023-08-01 $204,900 (12.2%) $257,515 (20.2%) 0.00 195
2023-09-01 $202,450 (9.1%) $258,382 (16.7%) 0.00 212
2023-10-01 $199,900 (6.6%) $251,565 (5.7%) 0.00 233
2023-11-01 $208,155 (11.3%) $251,700 (3.4%) 0.00 223
2023-12-01 $199,900 (11.7%) $246,919 (3.5%) 0.00 226
2024-01-01 $201,250 (10.0%) $244,523 (0.9%) 0.00 214
2024-02-01 $207,661 (19.5%) $242,601 (0.6%) 0.00 204
2024-03-01 $200,000 (11.8%) $245,252 (-2.5%) 0.00 212
2024-04-01 $207,400 (15.6%) $251,555 (0.1%) 0.00 203
2024-05-01 $214,675 (8.6%) $255,526 (-1.7%) 0.00 210
2024-06-01 $215,000 (10.6%) $250,452 (-0.9%) 0.00 250
2024-07-01 $219,900 (10.0%) $252,938 (-2.4%) 0.00 274
2024-08-01 $215,000 (4.9%) $251,298 (-2.4%) 0.00 285
2024-09-01 $214,925 (6.2%) $245,859 (-4.9%) 0.00 301
2024-10-01 $219,900 (10.0%) $251,962 (0.2%) 0.00 309
Anniston's median listing price for 2024-10-01 was $219,900, a difference of $20,000 (10.0%) versus the prior year and $4,975 versus the prior month.

Anniston's median listing price comes in at 0% of the national average.

Anniston's average listing price for 2024-10-01 was $251,962, a difference of $397 (0.2%) versus the prior year and $6,103 versus the prior month.

For the 2024-10-01 period, Anniston had 309 MLS listings, a difference of 8 listings (3%) versus the prior month and 76 listings (33%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Anniston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,757 sqft
2018-02-01 0 days 1,674 sqft
2018-03-01 0 days 1,653 sqft
2018-04-01 0 days 1,667 sqft
2018-05-01 0 days 1,660 sqft
2018-06-01 0 days 1,658 sqft
2018-07-01 0 days 1,662 sqft
2018-08-01 0 days 1,662 sqft
2018-09-01 0 days 1,648 sqft
2018-10-01 0 days 1,642 sqft
2018-11-01 0 days 1,663 sqft
2018-12-01 0 days 1,653 sqft
2019-01-01 0 days 1,626 sqft
2019-02-01 0 days 1,642 sqft
2019-03-01 0 days 1,654 sqft
2019-04-01 0 days 1,647 sqft
2019-05-01 0 days 1,662 sqft
2019-06-01 0 days 1,706 sqft
2019-07-01 0 days 1,737 sqft
2019-08-01 0 days 1,743 sqft
2019-09-01 0 days 1,752 sqft
2019-10-01 0 days 1,750 sqft
2019-11-01 0 days 1,744 sqft
2019-12-01 0 days 1,756 sqft
2020-01-01 0 days 1,775 sqft
2020-02-01 0 days 1,825 sqft
2020-03-01 0 days 1,852 sqft
2020-04-01 0 days 1,842 sqft
2020-05-01 0 days 1,830 sqft
2020-06-01 0 days 1,840 sqft
2020-07-01 0 days 1,849 sqft
2020-08-01 0 days 1,845 sqft
2020-09-01 0 days 1,831 sqft
2020-10-01 0 days 1,823 sqft
2020-11-01 0 days 1,806 sqft
2020-12-01 0 days 1,770 sqft
2021-01-01 0 days 1,781 sqft
2021-02-01 0 days 1,765 sqft
2021-03-01 0 days 1,748 sqft
2021-04-01 0 days 1,845 sqft
2021-05-01 0 days 1,830 sqft
2021-06-01 0 days 1,890 sqft
2021-07-01 0 days 1,889 sqft
2021-08-01 0 days 1,846 sqft
2021-09-01 0 days 1,900 sqft
2021-10-01 0 days 1,889 sqft
2021-11-01 0 days 1,961 sqft
2021-12-01 0 days 1,947 sqft
2022-01-01 0 days 1,784 sqft
2022-02-01 0 days 1,589 sqft
2022-03-01 0 days 1,615 sqft
2022-04-01 0 days 1,614 sqft
2022-05-01 0 days 1,717 sqft
2022-06-01 0 days 1,746 sqft
2022-07-01 0 days 1,775 sqft
2022-08-01 0 days 1,795 sqft
2022-09-01 0 days 1,793 sqft
2022-10-01 0 days 1,853 sqft
2022-11-01 0 days 1,842 sqft
2022-12-01 0 days 1,812 sqft
2023-01-01 0 days 1,771 sqft
2023-02-01 0 days 1,757 sqft
2023-03-01 0 days 1,767 sqft
2023-04-01 0 days 1,700 sqft
2023-05-01 0 days 1,811 sqft
2023-06-01 0 days 1,836 sqft
2023-07-01 0 days 1,883 sqft
2023-08-01 0 days 1,841 sqft
2023-09-01 0 days 1,860 sqft
2023-10-01 0 days 1,813 sqft
2023-11-01 0 days 1,792 sqft
2023-12-01 0 days 1,779 sqft
2024-01-01 0 days 1,764 sqft
2024-02-01 0 days 1,732 sqft
2024-03-01 0 days 1,756 sqft
2024-04-01 0 days 1,750 sqft
2024-05-01 0 days 1,749 sqft
2024-06-01 0 days 1,724 sqft
2024-07-01 0 days 1,786 sqft
2024-08-01 0 days 1,800 sqft
2024-09-01 0 days 1,773 sqft
2024-10-01 0 days 1,813 sqft
Anniston's median listing age (time on market) for 2024-10-01 was 0 days.

Anniston's median square footage for active listings during the 2024-10-01 period was 1,813 sqft. One year prior, the average listing was 1,813 sqft.

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).