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 85 lenders originated 589 FHA loans during 2024. The total origination value was $195,405,000, with an average FHA loan value of $331,757.

    Auburn FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Auburn averaged 0.26% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Auburn's average FHA mortgage closing costs are $8,172.

    The average rate for the prior week (2025-06-27) was 6.65% and one month ago for the week of 2025-05-30, the average rate was 6.62%.

    The average rate one year ago was 6.54%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.26%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    CANOPY MORTGAGE, LLC 64 6.18% $15,843
    CMG MORTGAGE, INC. 58 6.10% $13,341
    UNITED WHOLESALE MORTGAGE, LLC 47 6.18% $11,186
    QUICKEN LOANS, LLC 41 6.46% $10,269
    GUILD MORTGAGE COMPANY 30 6.26% $11,617
    CROSSCOUNTRY MORTGAGE, LLC 24 6.39% $10,966
    Flagstar Bank, FSB 15 6.30% $9,586
    PENNYMAC LOAN SERVICES, LLC 15 6.01% $12,153
    EMM LOANS LLC 15 6.41% $10,171
    Trustmark National Bank 14 6.00% $13,244
    MOVEMENT MORTGAGE, LLC 12 6.70% $15,089
    FREEDOM MORTGAGE CORPORATION 10 6.34% $13,991
    Synovus Bank 10 6.19% $10,148
    South State Bank 10 6.18% $10,180
    VANDERBILT MORTGAGE AND FINANCE, INC. 9 5.97% $9,047
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 8 6.20% $10,772
    Renasant Bank 7 6.13% $8,819
    LAKEVIEW LOAN SERVICING, LLC 7 6.38% $7,878
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.75% $8,845
    LOANDEPOT.COM, LLC 6 6.26% $11,998
    ServisFirst Bank 6 5.94% $9,992
    DHI MORTGAGE COMPANY, LTD. 6 4.75% $8,714
    AMERICAN FINANCIAL NETWORK, INC. 6 7.17% $12,615
    BROKER SOLUTIONS, INC. 5 6.65% $9,745
    Mr. Cooper ( Nationstar Mortgage ) 5 6.25% $17,872
    NORWICH COMMERCIAL GROUP, INC. 5 6.15% $5,890
    TJC Mortgage, Inc. 4 6.44% $10,998
    Equity Prime Mortgage LLC 4 7.56% $16,176
    Carrington Mortgage Services, LLC 4 6.50% $11,240
    Regions Bank 4 6.31% $11,329
    Northpointe Bank 4 5.91% $9,123
    First Heritage Mortgage, LLC 4 5.28% $16,394
    EVERETT FINANCIAL, INC. 3 6.92% $7,118
    GUARANTEED RATE, INC. 3 6.51% $10,775
    Keystone Funding, Inc. 3 6.67% $12,939
    MILEND, INC. 3 6.67% $12,670
    NEWREZ LLC 3 6.54% $11,836
    Sierra Pacific Mortgage Company, Inc. 3 6.13% $11,315
    PLAZA HOME MORTGAGE, INC. 2 7.25% $12,356
    STOCKTON MORTGAGE CORPORATION 2 6.88% $9,121
    RUOFF MORTGAGE COMPANY, INC. 2 6.75% $8,410
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.75% $14,500
    PNC Bank 2 6.44% $7,985
    Mortgage Research Center, LLC 2 5.94% $8,276
    Hamilton Mortgage Corporation 1 5.75% $10,909
    M&T Bank 1 6.75% $6,698
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $15,537
    NATIONS RELIABLE LENDING, LLC 1 6.63% $18,282
    NEW DAY FINANCIAL, LLC 1 7.50% $4,276
    Valley National Bank 1 6.13% $6,810
    First Federal Bank 1 6.75% $7,817
    FIRST COMMUNITY MORTGAGE, INC. 1 5.75% $11,116
    Paramount Residential Mortgage Group, Inc. 1 6.50% $10,811
    FirstBank 1 6.63% $7,630
    PHH Mortgage Corporation 1 6.63% $9,528
    PLANET HOME LENDING, LLC 1 5.75% $6,906
    PREMIA MORTGAGE, LLC 1 6.13% $5,826
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.13% $4,590
    Prosperity Home Mortgage, LLC 1 6.75% $6,102
    BancorpSouth 1 5.38% $8,987
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.25% $9,063
    RELIANCE FIRST CAPITAL, LLC 1 6.00% $20,280
    Assurance Financial Group, L.L.C. 1 6.63% $15,898
    RESIDENTIAL BANCORP 1 7.25% $14,474
    ROYAL UNITED MORTGAGE LLC 1 5.75% $9,852
    SENTE MORTGAGE, INC. 1 6.13% $14,812
    ARC HOME LLC 1 6.00% $9,477
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.88% $17,607
    Ameris Bank 1 6.13% $7,026
    SUN WEST MORTGAGE COMPANY, INC. 1 6.38% $13,041
    AmeriHome Mortgage Company, LLC 1 6.13% $10,480
    The Loan Store, Inc. 1 6.25% $13,558
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.13% $12,125
    TOP FLITE FINANCIAL, INC. 1 6.63% $12,877
    TOWNE MORTGAGE COMPANY 1 6.75% $6,008
    American Mortgage & Equity Consultants, Inc. 1 6.13% $7,236
    Lakeview Community Capital, LLC 1 5.75% $7,632
    Ixonia Bank 1 6.13% $9,420
    LIBERTY HOME MORTGAGE CORPORATION 1 6.63% $14,891
    LEADERONE FINANCIAL CORPORATION 1 5.50% $21,513
    HOMESIDE FINANCIAL, LLC 1 6.25% $26,597
    Loan Simple, Inc. 1 7.25% $17,472
    AMERICAN FINANCING CORPORATION 1 6.75% $9,701
    MORIA DEVELOPMENT, INC. 1 6.75% $9,713
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 7.13% $9,545

    The top Auburn FHA lender as defined by loan originations is CANOPY MORTGAGE, LLC, with 64 FHA loans originated. Their average total fees are $15,843, which is $2,502 higher than the next largest lender, CMG MORTGAGE, INC..

    The lowest fee Auburn FHA lenders (with over 10 loans originated) are Flagstar Bank, FSB ($9,586), Synovus Bank ($10,148), EMM LOANS LLC ($10,171), South State Bank ($10,180) and QUICKEN LOANS, LLC ($10,269).

    The lowest rate Auburn FHA lenders (with over 10 loans originated) are Trustmark National Bank (6.00%), PENNYMAC LOAN SERVICES, LLC (6.01%), CMG MORTGAGE, INC. (6.10%), South State Bank (6.18%) and CANOPY MORTGAGE, LLC (6.18%).

    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

    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).