Asheville FHA Loan Rates, Closing Costs & Stats
ASHEVILLE, NC
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).