Asheville FHA Loan Rates, Closing Costs & Stats

ASHEVILLE, NC

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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.

    Asheville's 92 lenders originated 726 FHA loans during 2024. The total origination value was $215,100,000, with an average FHA loan value of $296,281.

    Asheville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Asheville averaged -0.04% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Asheville's average FHA mortgage closing costs are $8,778.

    The average rate for the prior week (2025-06-13) was 6.74% and one month ago for the week of 2025-05-16, the average rate was 6.7%.

    The average rate one year ago was 6.65%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.25%.

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

    Asheville 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 Asheville level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 80 6.24% $13,467
    DHI MORTGAGE COMPANY, LTD. 66 5.19% $7,047
    UNITED WHOLESALE MORTGAGE, LLC 52 6.02% $15,432
    MOVEMENT MORTGAGE, LLC 44 6.73% $12,265
    GoPrime Mortgage, Inc. 27 6.82% $12,464
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 18 6.47% $12,500
    FREEDOM MORTGAGE CORPORATION 17 6.33% $14,785
    LOANDEPOT.COM, LLC 16 6.32% $15,403
    AMERICAN FINANCIAL RESOURCES, INC. 16 5.95% $17,160
    BROKER SOLUTIONS, INC. 12 6.66% $13,225
    UNION HOME MORTGAGE CORP. 12 6.91% $11,533
    HOWARD HANNA FINANCIAL SERVICES, INC. 11 6.60% $11,960
    CARDINAL FINANCIAL 10 6.42% $14,367
    PENNYMAC LOAN SERVICES, LLC 9 5.85% $9,707
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 9 6.29% $13,714
    NEWREZ LLC 9 6.49% $11,861
    GUARANTEED RATE, INC. 8 6.55% $11,374
    T2 FINANCIAL LLC 8 6.59% $15,666
    CROSSCOUNTRY MORTGAGE, LLC 8 6.73% $13,070
    RADIUS FINANCIAL GROUP INC. 7 6.77% $13,155
    Equity Prime Mortgage LLC 7 6.98% $13,910
    RELIANCE FIRST CAPITAL, LLC 6 6.42% $17,285
    United Community Bank 6 6.92% $10,971
    LAKEVIEW LOAN SERVICING, LLC 6 6.52% $7,345
    Alcova Mortgage LLC 6 6.54% $12,045
    American Security Mortgage Corp. 6 6.60% $11,152
    VILLAGE CAPITAL MORTGAGE 5 6.75% $7,714
    SUN WEST MORTGAGE COMPANY, INC. 5 5.93% $18,917
    Nations Lending Corporation 5 6.40% $19,789
    MUTUAL OF OMAHA MORTGAGE, INC. 5 6.35% $17,524
    Carrington Mortgage Services, LLC 5 6.35% $12,864
    AMERISAVE MORTGAGE CORPORATION 4 6.09% $14,300
    HOMESIDE FINANCIAL, LLC 4 6.65% $18,240
    PLANET HOME LENDING, LLC 4 6.12% $7,619
    SeaTrust Mortgage Company 4 6.78% $9,943
    Paramount Bank 3 6.67% $7,981
    CMG MORTGAGE, INC. 3 5.83% $14,852
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.58% $12,823
    BAY EQUITY LLC 3 6.96% $12,326
    ZILLOW HOME LOANS, LLC 3 6.33% $13,092
    Mr. Cooper ( Nationstar Mortgage ) 3 6.29% $12,935
    Mortgage Research Center, LLC 3 6.38% $16,836
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 5.43% $19,475
    ALLIED MORTGAGE GROUP, INC. 2 6.13% $11,589
    Champion Credit Union 2 6.19% $10,414
    Prosperity Home Mortgage, LLC 2 6.25% $14,080
    EVERETT FINANCIAL, INC. 2 6.56% $11,685
    1ST SIGNATURE LENDING, LLC 2 6.50% $19,907
    The Federal Savings Bank 2 6.50% $11,861
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.25% $9,765
    First Bank 2 5.94% $12,579
    First-Citizens Bank & Trust Company 2 6.00% $11,312
    VERITAS FUNDING, LLC 2 6.38% $21,243
    ABSOLUTE HOME MORTGAGE CORPORATION 2 6.63% $16,896
    Lakeview Community Capital, LLC 2 6.38% $8,228
    LOANPAL, LLC 2 5.75% $17,060
    Magnolia Bank 2 6.19% $10,042
    NETWORK CAPITAL FUNDING CORPORATION 2 6.88% $10,422
    MILEND, INC. 2 6.13% $19,887
    SWBC MORTGAGE CORPORATION 1 6.63% $12,083
    ACOPIA, LLC 1 6.50% $9,705
    ALLIANT CREDIT UNION 1 6.00% $7,712
    AMERICAN FINANCIAL NETWORK, INC. 1 7.00% $13,597
    American Mortgage & Equity Consultants, Inc. 1 6.13% $17,864
    AmeriHome Mortgage Company, LLC 1 6.13% $5,775
    Barrington Bank & Trust Company, N.A. 1 7.25% $10,638
    Bell Bank 1 6.13% $11,191
    BETTER MORTGAGE CORPORATION 1 6.00% $10,371
    CALCON MUTUAL MORTGAGE LLC 1 7.13% $26,203
    CASTLE & COOKE MORTGAGE, LLC 1 5.75% $11,726
    Century Mortgage Company DBA Century Lending Company 1 6.99% $13,497
    FIRST HOME MORTGAGE CORPORATION 1 5.88% $19,373
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.00% $5,221
    HOMESTEAD FUNDING CORP. 1 6.50% $6,355
    INTERCOASTAL MORTGAGE COMPANY 1 6.75% $9,527
    ISERVE RESIDENTIAL LENDING, LLC 1 6.25% $11,465
    LADERA LENDING, INC. 1 7.75% $16,461
    Loan Simple, Inc. 1 7.13% $19,024
    Mid-Continent Funding, Inc. 1 6.75% $6,601
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $10,254
    NFM, INC. 1 6.75% $11,942
    NP, Inc. 1 7.13% $11,573
    OCEANSIDE MORTGAGE COMPANY 1 6.13% $5,702
    OCMBC, INC. 1 6.75% $10,966
    Plains Commerce Bank 1 6.25% $11,028
    PLAZA HOME MORTGAGE, INC. 1 7.75% $8,683
    POLARIS HOME FUNDING CORP. 1 6.75% $15,132
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $15,653
    Strong Home Mortgage, LLC 1 5.75% $12,486
    TOP FLITE FINANCIAL, INC. 1 6.38% $17,053
    Truist 1 6.13% $16,376
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 7.75% $11,266

    The top Asheville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 80 FHA loans originated. Their average total fees are $13,467, which is $6,421 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Asheville FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($7,047), UNION HOME MORTGAGE CORP. ($11,533), HOWARD HANNA FINANCIAL SERVICES, INC. ($11,960), MOVEMENT MORTGAGE, LLC ($12,265) and GoPrime Mortgage, Inc. ($12,464).

    The lowest rate Asheville FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.19%), AMERICAN FINANCIAL RESOURCES, INC. (5.95%), UNITED WHOLESALE MORTGAGE, LLC (6.02%), QUICKEN LOANS, LLC (6.24%) and LOANDEPOT.COM, LLC (6.32%).

    Asheville FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ASHEVILLE, NC BUNCOMBE 2022 $420,680 $538,650 $651,050 $809,150
    ASHEVILLE, NC HAYWOOD 2022 $420,680 $538,650 $651,050 $809,150
    ASHEVILLE, NC HENDERSON 2022 $420,680 $538,650 $651,050 $809,150
    ASHEVILLE, NC MADISON 2022 $420,680 $538,650 $651,050 $809,150
    ASHEVILLE, NC BUNCOMBE 2023 $472,030 $604,400 $730,525 $907,900
    ASHEVILLE, NC HAYWOOD 2023 $472,030 $604,400 $730,525 $907,900
    ASHEVILLE, NC HENDERSON 2023 $472,030 $604,400 $730,525 $907,900
    ASHEVILLE, NC MADISON 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).