Auburn FHA Loan Rates, Closing Costs & Stats

AUBURN-OPELIKA, 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.

    Auburn's 73 lenders originated 450 FHA loans during 2023. The total origination value was $112,520,000, with an average FHA loan value of $250,044.

    Auburn FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Auburn averaged 6.43% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Auburn's average FHA mortgage closing costs are $7,524.

    The average rate for the prior week (2025-02-07) was 6.64% and one month ago for the week of 2025-01-10, the average rate was 6.71%.

    The average rate one year ago was 6.43%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.88%.

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

    Auburn 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 Auburn level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 43 6.13% $9,961
    CMG MORTGAGE, INC. 35 6.65% $12,998
    UNITED WHOLESALE MORTGAGE, LLC 32 6.28% $10,630
    Flagstar Bank, FSB 22 6.50% $10,299
    Trustmark National Bank 21 5.94% $14,298
    Renasant Bank 21 6.38% $11,020
    CROSSCOUNTRY MORTGAGE, LLC 17 6.85% $9,162
    GUILD MORTGAGE COMPANY 16 6.46% $13,594
    HOMESTAR FINANCIAL CORPORATION 13 6.47% $8,262
    CANOPY MORTGAGE, LLC 12 6.59% $12,393
    MOVEMENT MORTGAGE, LLC 11 6.69% $10,473
    South State Bank 11 6.47% $8,265
    EVERETT FINANCIAL, INC. 10 7.01% $9,029
    PENNYMAC LOAN SERVICES, LLC 8 5.94% $11,408
    AMERISAVE MORTGAGE CORPORATION 7 6.21% $13,394
    Synovus Bank 7 6.39% $9,973
    FREEDOM MORTGAGE CORPORATION 7 6.86% $13,699
    CARDINAL FINANCIAL 6 6.75% $10,276
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.17% $8,411
    BROKER SOLUTIONS, INC. 6 6.54% $9,056
    VANDERBILT MORTGAGE AND FINANCE, INC. 6 6.75% $10,201
    Keystone Funding, Inc. 6 6.12% $10,972
    LOANDEPOT.COM, LLC 5 6.40% $10,997
    Northpointe Bank 5 6.20% $9,061
    BancorpSouth 5 6.13% $9,228
    STOCKTON MORTGAGE CORPORATION 5 7.05% $11,608
    EMM LOANS LLC 5 6.25% $9,924
    Regions Bank 5 5.73% $11,173
    GUARANTEED RATE, INC. 4 6.26% $10,502
    Carrington Mortgage Services, LLC 4 6.13% $12,911
    LAKEVIEW LOAN SERVICING, LLC 4 6.78% $11,949
    Plains Commerce Bank 4 6.41% $12,258
    Ameris Bank 3 6.04% $13,148
    HOMEOWNERS FINANCIAL GROUP USA, LLC 3 7.08% $9,032
    AMERICAN FINANCIAL NETWORK, INC. 3 7.25% $10,679
    Mr. Cooper ( Nationstar Mortgage ) 3 5.79% $15,001
    DHI MORTGAGE COMPANY, LTD. 2 5.50% $8,317
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.44% $8,065
    ENVOY MORTGAGE, LTD 2 6.63% $8,242
    GMFS LLC 2 6.75% $6,620
    INTERLINC MORTGAGE SERVICES, LLC 2 7.13% $7,002
    MILEND, INC. 2 6.50% $9,382
    M&T Bank 2 6.81% $8,178
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.25% $23,871
    NEWREZ LLC 2 6.75% $9,013
    PNC Bank 2 6.19% $6,431
    ZILLOW HOME LOANS, LLC 2 5.56% $15,353
    VILLAGE CAPITAL MORTGAGE 1 5.25% $13,087
    Mortgage Research Center, LLC 1 7.99% $4,834
    Paramount Residential Mortgage Group, Inc. 1 5.75% $14,316
    MIDLAND MORTGAGE CORPORATION 1 6.75% $6,946
    LOANPAL, LLC 1 7.25% $5,983
    Wells Fargo Bank 1 6.63% $4,342
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $12,162
    KEESLER 1 5.25% $6,769
    FirstBank 1 6.13% $11,224
    1ST SIGNATURE LENDING, LLC 1 7.25% $10,872
    RUOFF MORTGAGE COMPANY, INC. 1 7.50% $4,231
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.13% $8,502
    SouthPoint Bank 1 5.75% $6,692
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.50% $14,089
    CHURCHILL MORTGAGE CORPORATION 1 7.25% $11,184
    SUN WEST MORTGAGE COMPANY, INC. 1 6.63% $15,568
    AmeriHome Mortgage Company, LLC 1 6.13% $10,880
    The Federal Savings Bank 1 6.25% $17,864
    The Huntington National Bank 1 5.50% $10,978
    TJC Mortgage, Inc. 1 7.50% $11,011
    AMERICAN FINANCING CORPORATION 1 7.25% $8,290
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $16,342
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $8,079
    Alcova Mortgage LLC 1 7.50% $7,735
    NASA Federal Credit Union 1 6.75% $21,108
    NBKC BANK 1 6.00% $7,912

    The top Auburn FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 43 FHA loans originated. Their average total fees are $9,961, which is $3,038 lower than the next largest lender, CMG MORTGAGE, INC..

    The lowest fee Auburn FHA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION ($8,262), South State Bank ($8,265), EVERETT FINANCIAL, INC. ($9,029), CROSSCOUNTRY MORTGAGE, LLC ($9,162) and QUICKEN LOANS, LLC ($9,961).

    The lowest rate Auburn FHA lenders (with over 10 loans originated) are Trustmark National Bank (5.94%), QUICKEN LOANS, LLC (6.13%), UNITED WHOLESALE MORTGAGE, LLC (6.28%), Renasant Bank (6.38%) and GUILD MORTGAGE COMPANY (6.46%).

    Auburn FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Auburn (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 $273,700 (21.7%) $303,063 (13.9%) 1.03 693
    2018-02-01 $274,950 (18.3%) $301,848 (9.3%) 1.01 737
    2018-03-01 $271,500 (11.0%) $296,347 (4.7%) 0.96 774
    2018-04-01 $277,000 (9.7%) $305,822 (6.1%) 0.96 770
    2018-05-01 $285,120 (9.7%) $319,517 (9.4%) 0.97 764
    2018-06-01 $285,000 (9.9%) $321,018 (10.1%) 0.96 802
    2018-07-01 $282,400 (5.1%) $321,659 (7.1%) 0.96 828
    2018-08-01 $277,944 (3.5%) $316,059 (4.1%) 0.94 858
    2018-09-01 $279,000 (5.3%) $317,465 (5.5%) 0.94 842
    2018-10-01 $279,900 (5.6%) $316,913 (6.1%) 0.96 825
    2018-11-01 $282,290 (5.3%) $312,100 (3.0%) 0.97 805
    2018-12-01 $282,500 (4.7%) $305,667 (0.0%) 0.99 807
    2019-01-01 $279,975 (2.3%) $304,786 (0.6%) 0.98 787
    2019-02-01 $280,200 (1.9%) $308,976 (2.4%) 0.96 809
    2019-03-01 $287,857 (6.0%) $314,735 (6.2%) 0.95 842
    2019-04-01 $295,000 (6.5%) $320,908 (4.9%) 0.95 866
    2019-05-01 $292,692 (2.7%) $319,587 (0.0%) 0.92 887
    2019-06-01 $289,900 (1.7%) $315,877 (-1.6%) 0.91 899
    2019-07-01 $288,137 (2.0%) $318,904 (-0.9%) 0.91 879
    2019-08-01 $286,849 (3.2%) $318,831 (0.9%) 0.92 862
    2019-09-01 $282,940 (1.4%) $317,215 (-0.1%) 0.92 841
    2019-10-01 $279,918 (0.0%) $316,808 (0.0%) 0.92 823
    2019-11-01 $279,900 (-0.9%) $315,559 (1.1%) 0.93 808
    2019-12-01 $281,546 (-0.3%) $317,533 (3.9%) 0.95 774
    2020-01-01 $279,900 (0.0%) $315,116 (3.4%) 0.95 746
    2020-02-01 $279,900 (-0.1%) $314,023 (1.6%) 0.92 770
    2020-03-01 $279,956 (-2.7%) $313,209 (-0.5%) 0.89 796
    2020-04-01 $287,225 (-2.6%) $313,905 (-2.2%) 0.91 831
    2020-05-01 $289,000 (-1.3%) $317,032 (-0.8%) 0.89 792
    2020-06-01 $294,500 (1.6%) $334,499 (5.9%) 0.88 756
    2020-07-01 $294,569 (2.2%) $335,593 (5.2%) 0.86 718
    2020-08-01 $295,000 (2.8%) $332,661 (4.3%) 0.86 688
    2020-09-01 $295,550 (4.5%) $336,536 (6.1%) 0.86 682
    2020-10-01 $304,132 (8.7%) $346,358 (9.3%) 0.88 649
    2020-11-01 $308,125 (10.1%) $354,571 (12.4%) 0.91 611
    2020-12-01 $306,880 (9.0%) $360,213 (13.4%) 0.92 561
    2021-01-01 $309,000 (10.4%) $366,282 (16.2%) 0.93 514
    2021-02-01 $314,989 (12.5%) $371,380 (18.3%) 0.93 511
    2021-03-01 $318,950 (13.9%) $367,912 (17.5%) 0.91 509
    2021-04-01 $323,100 (12.5%) $377,320 (20.2%) 0.89 497
    2021-05-01 $329,900 (14.2%) $395,521 (24.8%) 0.89 425
    2021-06-01 $347,729 (18.1%) $400,137 (19.6%) 0.94 424
    2021-07-01 $334,500 (13.6%) $393,635 (17.3%) 0.91 447
    2021-08-01 $337,425 (14.4%) $390,811 (17.5%) 0.92 518
    2021-09-01 $333,580 (12.9%) $387,302 (15.1%) 0.92 486
    2021-10-01 $333,478 (9.7%) $397,481 (14.8%) 0.91 455
    2021-11-01 $340,073 (10.4%) $394,766 (11.3%) 0.94 404
    2021-12-01 $343,909 (12.1%) $402,886 (11.9%) 0.97 362
    2022-01-01 $350,151 (13.3%) $407,945 (11.4%) 0.97 339
    2022-02-01 $349,900 (11.1%) $405,410 (9.2%) 0.92 331
    2022-03-01 $362,963 (13.8%) $407,951 (10.9%) 0.92 345
    2022-04-01 $370,481 (14.7%) $414,681 (9.9%) 0.89 368
    2022-05-01 $368,615 (11.7%) $421,290 (6.5%) 0.85 396
    2022-06-01 $379,900 (9.3%) $435,700 (8.9%) 0.86 473
    2022-07-01 $377,870 (13.0%) $437,974 (11.3%) 0.86 523
    2022-08-01 $375,925 (11.4%) $429,363 (9.9%) 0.89 527
    2022-09-01 $374,539 (12.3%) $428,824 (10.7%) 0.89 520
    2022-10-01 $370,000 (11.0%) $422,147 (6.2%) 0.88 564
    2022-11-01 $368,575 (8.4%) $421,602 (6.8%) 0.90 574
    2022-12-01 $374,900 (9.0%) $432,942 (7.5%) 0.94 524
    2023-01-01 $376,784 (7.6%) $431,637 (5.8%) 0.94 520
    2023-02-01 $373,900 (6.9%) $425,340 (4.9%) 0.92 505
    2023-03-01 $374,950 (3.3%) $429,221 (5.2%) 0.90 503
    2023-04-01 $385,000 (3.9%) $446,698 (7.7%) 0.91 515
    2023-05-01 $389,450 (5.7%) $455,345 (8.1%) 0.90 559
    2023-06-01 $386,725 (1.8%) $458,008 (5.1%) 0.88 610
    2023-07-01 $397,200 (5.1%) $464,153 (6.0%) 0.91 621
    2023-08-01 $398,450 (6.0%) $461,523 (7.5%) 0.92 632
    2023-09-01 $399,000 (6.5%) $465,395 (8.5%) 0.94 618
    2023-10-01 $398,918 (7.8%) $489,948 (16.1%) 0.96 632
    2023-11-01 $389,475 (5.7%) $483,942 (14.8%) 0.94 648
    2023-12-01 $381,614 (1.8%) $473,110 (9.3%) 0.95 629
    2024-01-01 $388,050 (3.0%) $471,197 (9.2%) 0.96 640
    2024-02-01 $389,698 (4.2%) $471,701 (10.9%) 0.95 640
    2024-03-01 $385,987 (2.9%) $488,424 (13.8%) 0.92 657
    2024-04-01 $394,237 (2.4%) $497,095 (11.3%) 0.93 646
    2024-05-01 $399,675 (2.6%) $505,316 (11.0%) 0.92 649
    2024-06-01 $399,900 (3.4%) $500,980 (9.4%) 0.91 678
    2024-07-01 $399,000 (0.5%) $503,877 (8.6%) 0.91 716
    2024-08-01 $399,500 (0.3%) $498,061 (7.9%) 0.93 752
    2024-09-01 $399,578 (0.1%) $491,600 (5.6%) 0.95 773
    2024-10-01 $410,000 (2.8%) $495,725 (1.2%) 0.98 798
    2024-11-01 $408,510 (4.9%) $492,881 (1.9%) 1.00 835
    2024-12-01 $394,958 (3.5%) $495,585 (4.8%) 1.01 705
    2025-01-01 $389,934 (0.5%) $487,497 (3.5%) 0.00 712
    Auburn's median listing price for 2025-01-01 was $389,934, a difference of $1,884 (0.5%) versus the prior year and $-5,024 versus the prior month.

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

    Auburn's average listing price for 2025-01-01 was $487,497, a difference of $16,300 (3.5%) versus the prior year and $-8,088 versus the prior month.

    For the 2025-01-01 period, Auburn had 712 MLS listings, a difference of 7 listings (1%) versus the prior month and 72 listings (11%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Auburn (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 80 days 2,400 sqft
    2018-02-01 64 days 2,406 sqft
    2018-03-01 58 days 2,400 sqft
    2018-04-01 54 days 2,390 sqft
    2018-05-01 56 days 2,418 sqft
    2018-06-01 61 days 2,406 sqft
    2018-07-01 66 days 2,441 sqft
    2018-08-01 64 days 2,415 sqft
    2018-09-01 71 days 2,432 sqft
    2018-10-01 85 days 2,458 sqft
    2018-11-01 95 days 2,412 sqft
    2018-12-01 94 days 2,367 sqft
    2019-01-01 89 days 2,334 sqft
    2019-02-01 77 days 2,336 sqft
    2019-03-01 62 days 2,366 sqft
    2019-04-01 56 days 2,381 sqft
    2019-05-01 59 days 2,383 sqft
    2019-06-01 62 days 2,359 sqft
    2019-07-01 67 days 2,368 sqft
    2019-08-01 71 days 2,398 sqft
    2019-09-01 77 days 2,385 sqft
    2019-10-01 83 days 2,389 sqft
    2019-11-01 82 days 2,400 sqft
    2019-12-01 88 days 2,396 sqft
    2020-01-01 90 days 2,358 sqft
    2020-02-01 80 days 2,300 sqft
    2020-03-01 55 days 2,292 sqft
    2020-04-01 64 days 2,289 sqft
    2020-05-01 74 days 2,291 sqft
    2020-06-01 69 days 2,325 sqft
    2020-07-01 59 days 2,291 sqft
    2020-08-01 60 days 2,280 sqft
    2020-09-01 61 days 2,259 sqft
    2020-10-01 67 days 2,330 sqft
    2020-11-01 74 days 2,302 sqft
    2020-12-01 83 days 2,269 sqft
    2021-01-01 77 days 2,229 sqft
    2021-02-01 51 days 2,208 sqft
    2021-03-01 40 days 2,201 sqft
    2021-04-01 50 days 2,226 sqft
    2021-05-01 36 days 2,222 sqft
    2021-06-01 37 days 2,249 sqft
    2021-07-01 37 days 2,189 sqft
    2021-08-01 34 days 2,161 sqft
    2021-09-01 40 days 2,116 sqft
    2021-10-01 52 days 2,133 sqft
    2021-11-01 53 days 2,137 sqft
    2021-12-01 54 days 2,179 sqft
    2022-01-01 56 days 2,234 sqft
    2022-02-01 38 days 2,194 sqft
    2022-03-01 33 days 2,272 sqft
    2022-04-01 31 days 2,273 sqft
    2022-05-01 33 days 2,271 sqft
    2022-06-01 31 days 2,280 sqft
    2022-07-01 39 days 2,258 sqft
    2022-08-01 57 days 2,274 sqft
    2022-09-01 59 days 2,269 sqft
    2022-10-01 59 days 2,296 sqft
    2022-11-01 58 days 2,293 sqft
    2022-12-01 75 days 2,330 sqft
    2023-01-01 84 days 2,318 sqft
    2023-02-01 65 days 2,230 sqft
    2023-03-01 57 days 2,192 sqft
    2023-04-01 52 days 2,214 sqft
    2023-05-01 46 days 2,279 sqft
    2023-06-01 46 days 2,260 sqft
    2023-07-01 51 days 2,269 sqft
    2023-08-01 55 days 2,300 sqft
    2023-09-01 63 days 2,271 sqft
    2023-10-01 65 days 2,328 sqft
    2023-11-01 65 days 2,225 sqft
    2023-12-01 71 days 2,184 sqft
    2024-01-01 77 days 2,197 sqft
    2024-02-01 68 days 2,190 sqft
    2024-03-01 60 days 2,191 sqft
    2024-04-01 54 days 2,187 sqft
    2024-05-01 48 days 2,180 sqft
    2024-06-01 50 days 2,212 sqft
    2024-07-01 51 days 2,197 sqft
    2024-08-01 57 days 2,170 sqft
    2024-09-01 64 days 2,135 sqft
    2024-10-01 66 days 2,191 sqft
    2024-11-01 71 days 2,121 sqft
    2024-12-01 66 days 2,034 sqft
    2025-01-01 0 days 2,047 sqft
    Auburn's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Auburn's median square footage for active listings during the 2025-01-01 period was 2,047 sqft. One year prior, the average listing was 2,197 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).