Auburn FHA Loan Rates, Closing Costs & Stats
AUBURN-OPELIKA, 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.
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
0.12%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Auburn's average FHA mortgage closing costs are $7,524.
The average rate for the prior week (2024-11-22) was
6.51% and
one month ago for the week of 2024-10-25, the
average rate was 6.29%.
The average rate one year ago was 6.88%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.04%.
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.
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $277,389 (22.6%) | $309,844 (14.2%) | 1.03 | 661 |
2018-02-01 | $279,089 (17.2%) | $308,890 (9.2%) | 1.01 | 700 |
2018-03-01 | $272,500 (9.0%) | $302,835 (4.5%) | 0.96 | 739 |
2018-04-01 | $282,300 (9.0%) | $313,185 (6.3%) | 0.96 | 730 |
2018-05-01 | $289,450 (9.5%) | $327,641 (9.6%) | 0.97 | 726 |
2018-06-01 | $289,000 (9.7%) | $329,271 (10.1%) | 0.96 | 766 |
2018-07-01 | $286,951 (6.3%) | $329,073 (6.7%) | 0.96 | 793 |
2018-08-01 | $279,900 (3.7%) | $323,502 (3.7%) | 0.94 | 824 |
2018-09-01 | $279,950 (4.1%) | $324,090 (4.1%) | 0.94 | 805 |
2018-10-01 | $283,909 (5.2%) | $324,590 (5.0%) | 0.96 | 782 |
2018-11-01 | $286,354 (4.9%) | $320,121 (2.4%) | 0.97 | 761 |
2018-12-01 | $286,000 (4.0%) | $314,097 (-0.1%) | 0.99 | 761 |
2019-01-01 | $284,900 (2.7%) | $313,635 (1.2%) | 0.98 | 743 |
2019-02-01 | $285,144 (2.2%) | $317,622 (2.8%) | 0.96 | 770 |
2019-03-01 | $291,034 (6.8%) | $322,458 (6.5%) | 0.95 | 806 |
2019-04-01 | $297,925 (5.5%) | $327,515 (4.6%) | 0.95 | 836 |
2019-05-01 | $295,000 (1.9%) | $326,328 (-0.4%) | 0.92 | 851 |
2019-06-01 | $292,622 (1.3%) | $322,269 (-2.1%) | 0.91 | 863 |
2019-07-01 | $292,033 (1.8%) | $325,454 (-1.1%) | 0.91 | 845 |
2019-08-01 | $290,980 (4.0%) | $326,061 (0.8%) | 0.92 | 830 |
2019-09-01 | $286,201 (2.2%) | $324,271 (0.1%) | 0.92 | 808 |
2019-10-01 | $284,023 (0.0%) | $323,489 (-0.3%) | 0.92 | 789 |
2019-11-01 | $284,000 (-0.8%) | $321,346 (0.4%) | 0.93 | 781 |
2019-12-01 | $285,500 (-0.2%) | $323,953 (3.1%) | 0.95 | 748 |
2020-01-01 | $284,900 (0.0%) | $321,674 (2.6%) | 0.95 | 719 |
2020-02-01 | $280,326 (-1.7%) | $320,164 (0.8%) | 0.92 | 746 |
2020-03-01 | $284,925 (-2.1%) | $319,980 (-0.8%) | 0.89 | 768 |
2020-04-01 | $289,796 (-2.7%) | $321,464 (-1.9%) | 0.91 | 801 |
2020-05-01 | $293,000 (-0.7%) | $324,117 (-0.7%) | 0.89 | 764 |
2020-06-01 | $299,000 (2.2%) | $341,230 (5.9%) | 0.88 | 730 |
2020-07-01 | $297,066 (1.7%) | $340,996 (4.8%) | 0.86 | 699 |
2020-08-01 | $299,000 (2.8%) | $338,049 (3.7%) | 0.86 | 671 |
2020-09-01 | $299,000 (4.5%) | $341,875 (5.4%) | 0.86 | 664 |
2020-10-01 | $308,250 (8.5%) | $351,272 (8.6%) | 0.88 | 630 |
2020-11-01 | $312,400 (10.0%) | $360,274 (12.1%) | 0.91 | 596 |
2020-12-01 | $309,900 (8.6%) | $367,360 (13.4%) | 0.92 | 544 |
2021-01-01 | $312,900 (9.8%) | $374,746 (16.5%) | 0.93 | 496 |
2021-02-01 | $318,795 (13.7%) | $380,759 (18.9%) | 0.93 | 489 |
2021-03-01 | $319,900 (12.3%) | $377,270 (17.9%) | 0.91 | 488 |
2021-04-01 | $327,350 (13.0%) | $386,252 (20.2%) | 0.89 | 476 |
2021-05-01 | $335,716 (14.6%) | $406,787 (25.5%) | 0.89 | 408 |
2021-06-01 | $357,644 (19.6%) | $413,142 (21.1%) | 0.94 | 405 |
2021-07-01 | $343,600 (15.7%) | $406,813 (19.3%) | 0.91 | 424 |
2021-08-01 | $344,325 (15.2%) | $402,843 (19.2%) | 0.92 | 492 |
2021-09-01 | $345,308 (15.5%) | $400,096 (17.0%) | 0.92 | 456 |
2021-10-01 | $342,600 (11.1%) | $409,143 (16.5%) | 0.91 | 429 |
2021-11-01 | $349,923 (12.0%) | $407,895 (13.2%) | 0.94 | 382 |
2021-12-01 | $356,759 (15.1%) | $415,147 (13.0%) | 0.97 | 344 |
2022-01-01 | $359,000 (14.7%) | $417,846 (11.5%) | 0.97 | 325 |
2022-02-01 | $354,500 (11.2%) | $415,295 (9.1%) | 0.92 | 319 |
2022-03-01 | $368,436 (15.2%) | $417,505 (10.7%) | 0.92 | 332 |
2022-04-01 | $375,000 (14.6%) | $422,885 (9.5%) | 0.89 | 350 |
2022-05-01 | $373,200 (11.2%) | $429,122 (5.5%) | 0.85 | 377 |
2022-06-01 | $386,965 (8.2%) | $444,726 (7.6%) | 0.86 | 452 |
2022-07-01 | $383,000 (11.5%) | $448,048 (10.1%) | 0.86 | 502 |
2022-08-01 | $383,559 (11.4%) | $440,996 (9.5%) | 0.89 | 497 |
2022-09-01 | $380,731 (10.3%) | $439,382 (9.8%) | 0.89 | 494 |
2022-10-01 | $375,950 (9.7%) | $430,441 (5.2%) | 0.88 | 542 |
2022-11-01 | $374,500 (7.0%) | $430,196 (5.5%) | 0.90 | 549 |
2022-12-01 | $379,900 (6.5%) | $442,823 (6.7%) | 0.94 | 498 |
2023-01-01 | $380,000 (5.9%) | $440,928 (5.5%) | 0.94 | 494 |
2023-02-01 | $380,450 (7.3%) | $437,943 (5.5%) | 0.92 | 477 |
2023-03-01 | $382,450 (3.8%) | $443,857 (6.3%) | 0.90 | 474 |
2023-04-01 | $389,900 (4.0%) | $455,985 (7.8%) | 0.91 | 491 |
2023-05-01 | $395,225 (5.9%) | $463,158 (7.9%) | 0.90 | 538 |
2023-06-01 | $391,940 (1.3%) | $466,818 (5.0%) | 0.88 | 590 |
2023-07-01 | $399,000 (4.2%) | $471,499 (5.2%) | 0.91 | 604 |
2023-08-01 | $402,450 (4.9%) | $470,482 (6.7%) | 0.92 | 612 |
2023-09-01 | $403,147 (5.9%) | $473,704 (7.8%) | 0.94 | 600 |
2023-10-01 | $405,895 (8.0%) | $500,140 (16.2%) | 0.96 | 611 |
2023-11-01 | $395,725 (5.7%) | $494,798 (15.0%) | 0.94 | 626 |
2023-12-01 | $389,900 (2.6%) | $484,490 (9.4%) | 0.95 | 609 |
2024-01-01 | $394,680 (3.9%) | $484,784 (10.0%) | 0.96 | 614 |
2024-02-01 | $394,928 (3.8%) | $484,357 (10.6%) | 0.95 | 615 |
2024-03-01 | $392,650 (2.7%) | $485,266 (9.3%) | 0.92 | 629 |
2024-04-01 | $399,675 (2.5%) | $492,257 (8.0%) | 0.93 | 620 |
2024-05-01 | $404,825 (2.4%) | $507,285 (9.5%) | 0.92 | 630 |
2024-06-01 | $405,385 (3.4%) | $504,731 (8.1%) | 0.91 | 660 |
2024-07-01 | $399,900 (0.2%) | $498,490 (5.7%) | 0.91 | 693 |
2024-08-01 | $400,000 (-0.6%) | $493,493 (4.9%) | 0.93 | 722 |
2024-09-01 | $403,772 (0.2%) | $485,671 (2.5%) | 0.95 | 747 |
2024-10-01 | $416,775 (2.7%) | $491,589 (-1.7%) | 0.98 | 767 |
Auburn's median listing price comes in at 98% of the national average.
Auburn's average listing price for 2024-10-01 was $491,589, a difference of $-8,551 (-1.7%) versus the prior year and $5,918 versus the prior month.
For the 2024-10-01 period, Auburn had 767 MLS listings, a difference of 20 listings (3%) versus the prior month and 156 listings (26%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Auburn (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 80 days | 2,408 sqft |
2018-02-01 | 64 days | 2,424 sqft |
2018-03-01 | 58 days | 2,406 sqft |
2018-04-01 | 54 days | 2,420 sqft |
2018-05-01 | 56 days | 2,446 sqft |
2018-06-01 | 61 days | 2,440 sqft |
2018-07-01 | 66 days | 2,471 sqft |
2018-08-01 | 64 days | 2,446 sqft |
2018-09-01 | 71 days | 2,449 sqft |
2018-10-01 | 85 days | 2,472 sqft |
2018-11-01 | 95 days | 2,420 sqft |
2018-12-01 | 94 days | 2,380 sqft |
2019-01-01 | 89 days | 2,358 sqft |
2019-02-01 | 77 days | 2,357 sqft |
2019-03-01 | 62 days | 2,379 sqft |
2019-04-01 | 56 days | 2,390 sqft |
2019-05-01 | 59 days | 2,406 sqft |
2019-06-01 | 62 days | 2,366 sqft |
2019-07-01 | 67 days | 2,394 sqft |
2019-08-01 | 71 days | 2,405 sqft |
2019-09-01 | 77 days | 2,402 sqft |
2019-10-01 | 83 days | 2,403 sqft |
2019-11-01 | 82 days | 2,406 sqft |
2019-12-01 | 88 days | 2,406 sqft |
2020-01-01 | 90 days | 2,389 sqft |
2020-02-01 | 80 days | 2,326 sqft |
2020-03-01 | 55 days | 2,306 sqft |
2020-04-01 | 64 days | 2,312 sqft |
2020-05-01 | 74 days | 2,319 sqft |
2020-06-01 | 69 days | 2,350 sqft |
2020-07-01 | 59 days | 2,303 sqft |
2020-08-01 | 60 days | 2,290 sqft |
2020-09-01 | 61 days | 2,276 sqft |
2020-10-01 | 67 days | 2,332 sqft |
2020-11-01 | 74 days | 2,319 sqft |
2020-12-01 | 83 days | 2,300 sqft |
2021-01-01 | 77 days | 2,261 sqft |
2021-02-01 | 51 days | 2,238 sqft |
2021-03-01 | 40 days | 2,225 sqft |
2021-04-01 | 50 days | 2,239 sqft |
2021-05-01 | 36 days | 2,237 sqft |
2021-06-01 | 37 days | 2,267 sqft |
2021-07-01 | 37 days | 2,238 sqft |
2021-08-01 | 34 days | 2,189 sqft |
2021-09-01 | 40 days | 2,165 sqft |
2021-10-01 | 52 days | 2,181 sqft |
2021-11-01 | 53 days | 2,181 sqft |
2021-12-01 | 54 days | 2,228 sqft |
2022-01-01 | 56 days | 2,249 sqft |
2022-02-01 | 38 days | 2,234 sqft |
2022-03-01 | 33 days | 2,277 sqft |
2022-04-01 | 31 days | 2,279 sqft |
2022-05-01 | 33 days | 2,281 sqft |
2022-06-01 | 31 days | 2,288 sqft |
2022-07-01 | 39 days | 2,300 sqft |
2022-08-01 | 57 days | 2,293 sqft |
2022-09-01 | 59 days | 2,300 sqft |
2022-10-01 | 59 days | 2,311 sqft |
2022-11-01 | 58 days | 2,324 sqft |
2022-12-01 | 75 days | 2,354 sqft |
2023-01-01 | 84 days | 2,346 sqft |
2023-02-01 | 65 days | 2,277 sqft |
2023-03-01 | 57 days | 2,238 sqft |
2023-04-01 | 52 days | 2,254 sqft |
2023-05-01 | 46 days | 2,316 sqft |
2023-06-01 | 46 days | 2,288 sqft |
2023-07-01 | 51 days | 2,300 sqft |
2023-08-01 | 55 days | 2,330 sqft |
2023-09-01 | 63 days | 2,304 sqft |
2023-10-01 | 65 days | 2,352 sqft |
2023-11-01 | 65 days | 2,251 sqft |
2023-12-01 | 71 days | 2,200 sqft |
2024-01-01 | 77 days | 2,229 sqft |
2024-02-01 | 68 days | 2,206 sqft |
2024-03-01 | 60 days | 2,213 sqft |
2024-04-01 | 54 days | 2,218 sqft |
2024-05-01 | 48 days | 2,191 sqft |
2024-06-01 | 50 days | 2,233 sqft |
2024-07-01 | 51 days | 2,232 sqft |
2024-08-01 | 57 days | 2,190 sqft |
2024-09-01 | 64 days | 2,155 sqft |
2024-10-01 | 66 days | 2,201 sqft |
Auburn's median square footage for active listings during the 2024-10-01 period was 2,201 sqft. One year prior, the average listing was 2,352 sqft.