Birmingham FHA Loan Rates, Closing Costs & Stats

BIRMINGHAM-HOOVER, 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.

    Birmingham's 168 lenders originated 3,674 FHA loans during 2023. The total origination value was $868,930,000, with an average FHA loan value of $236,508.

    Birmingham FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Birmingham averaged 6.54% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Birmingham's average FHA mortgage closing costs are $7,010.

    The average rate for the prior week (2025-02-07) was 6.35% and one month ago for the week of 2025-01-10, the average rate was 6.41%.

    The average rate one year ago was 6.64%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.55%.

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

    Birmingham 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 Birmingham level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 320 6.22% $11,210
    QUICKEN LOANS, LLC 300 6.20% $9,756
    DHI MORTGAGE COMPANY, LTD. 189 5.26% $7,776
    MOVEMENT MORTGAGE, LLC 140 6.75% $8,749
    GUILD MORTGAGE COMPANY 111 6.65% $9,720
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 111 6.64% $8,895
    Regions Bank 106 6.14% $9,267
    FirstBank 103 6.43% $9,871
    FBC MORTGAGE, LLC 90 6.38% $12,019
    Trustmark National Bank 82 6.40% $8,359
    LOANDEPOT.COM, LLC 80 6.39% $11,025
    Renasant Bank 76 6.29% $9,376
    SouthPoint Bank 73 6.60% $7,164
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 62 6.42% $10,665
    Northpointe Bank 59 6.27% $8,295
    FREEDOM MORTGAGE CORPORATION 56 6.76% $13,036
    First Federal Bank, A FSB 53 6.28% $8,904
    Hamilton Mortgage Corporation 50 6.66% $9,596
    Prosperity Home Mortgage, LLC 50 6.77% $8,747
    Synovus Bank 50 6.46% $8,861
    STOCKTON MORTGAGE CORPORATION 48 7.13% $10,916
    AMERICAN FINANCIAL NETWORK, INC. 46 7.06% $11,446
    PENNYMAC LOAN SERVICES, LLC 46 6.02% $12,794
    UNION HOME MORTGAGE CORP. 37 6.84% $9,593
    BROKER SOLUTIONS, INC. 34 6.91% $9,964
    Cornerstone First Mortgage, Inc 31 6.78% $8,614
    THE MORTGAGE FIRM, INC. 30 6.30% $9,246
    TJC Mortgage, Inc. 30 6.80% $10,309
    Mr. Cooper ( Nationstar Mortgage ) 29 6.25% $14,350
    Assurance Financial Group, L.L.C. 29 6.78% $10,065
    NEWREZ LLC 28 6.28% $11,946
    Bank of England 27 6.56% $10,160
    Plains Commerce Bank 27 6.25% $11,089
    Flagstar Bank, FSB 25 6.39% $9,348
    Princeton Mortgage Corporation 25 6.90% $9,224
    HUNT MORTGAGE CORPORATION 25 6.52% $10,511
    CROSSCOUNTRY MORTGAGE, LLC 24 6.60% $9,983
    AMERISAVE MORTGAGE CORPORATION 24 6.30% $12,426
    GMFS LLC 24 6.07% $9,940
    Ameris Bank 20 6.58% $8,464
    HOMEOWNERS FINANCIAL GROUP USA, LLC 20 6.84% $8,956
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 19 6.85% $7,586
    Carrington Mortgage Services, LLC 19 6.03% $9,486
    DAS Acquisition Company, LLC 19 6.59% $8,252
    MUTUAL OF OMAHA MORTGAGE, INC. 19 6.45% $12,107
    BancorpSouth 19 6.28% $7,170
    GUARANTEED RATE, INC. 19 6.50% $9,381
    CARDINAL FINANCIAL 16 6.73% $9,725
    ISERVE RESIDENTIAL LENDING, LLC 16 6.73% $19,144
    INSPIRE HOME LOANS INC. 16 5.70% $8,310
    Citizens Bank 16 6.67% $9,408
    VANDERBILT MORTGAGE AND FINANCE, INC. 15 6.47% $10,227
    Mortgage Research Center, LLC 15 6.93% $6,908
    LAKEVIEW LOAN SERVICING, LLC 15 6.15% $12,027
    CMG MORTGAGE, INC. 15 7.15% $10,524
    EVERETT FINANCIAL, INC. 15 7.37% $9,350
    MILEND, INC. 15 7.04% $11,310
    CANOPY MORTGAGE, LLC 14 6.73% $16,537
    HOMESTAR FINANCIAL CORPORATION 13 6.43% $11,654
    FIRST COMMUNITY MORTGAGE, INC. 11 6.61% $10,269
    First Horizon Bank 11 6.76% $7,371
    Ixonia Bank 10 6.59% $10,230
    AMERICAN PACIFIC MORTGAGE CORPORATION 10 6.90% $11,173
    ACOPIA, LLC 9 7.03% $8,138
    MID AMERICA MORTGAGE, INC. 9 7.38% $6,849
    PLANET HOME LENDING, LLC 9 5.99% $9,817
    RELIANCE FIRST CAPITAL, LLC 8 6.38% $8,183
    HOMEBRIDGE FINANCIAL SERVICES, INC. 8 6.44% $10,507
    South State Bank 8 6.72% $9,685
    SUN WEST MORTGAGE COMPANY, INC. 8 6.50% $9,374
    Wells Fargo Bank 8 6.63% $7,324
    AVADIAN 7 6.41% $9,510
    Liberty Mortgage Corporation 7 6.29% $5,837
    Equity Prime Mortgage LLC 7 6.84% $11,401
    CIS Financial Services, Inc. 7 6.88% $8,345
    VILLAGE CAPITAL MORTGAGE 6 6.04% $11,304
    Pinnacle Bank 6 6.21% $9,361
    NFM, INC. 5 7.23% $11,873
    United Community Bank 5 6.30% $9,206
    Century Mortgage Company DBA Century Lending Company 5 6.25% $8,193
    LEADERONE FINANCIAL CORPORATION 5 6.68% $7,299
    AMERICAN FINANCIAL RESOURCES, INC. 5 6.83% $10,726
    ServisFirst Bank 4 6.47% $8,038
    Paramount Residential Mortgage Group, Inc. 4 6.75% $15,032
    PLAZA HOME MORTGAGE, INC. 4 6.44% $11,750
    M&T Bank 4 6.72% $10,254
    LOANPAL, LLC 4 5.91% $9,386
    Truist 4 6.40% $7,584
    NATIONS DIRECT MORTGAGE, LLC 3 6.33% $9,816
    KELLER MORTGAGE, LLC 3 5.63% $7,881
    TOWNE MORTGAGE COMPANY 3 6.54% $14,804
    The Loan Store, Inc. 3 7.08% $11,085
    The Federal Savings Bank 3 5.96% $11,621
    Barrington Bank & Trust Company, N.A. 3 7.21% $7,394
    BAY EQUITY LLC 3 6.46% $7,934
    AMERICAN FINANCING CORPORATION 3 7.29% $7,533
    MORTGAGE INVESTORS GROUP, INC. 3 6.58% $6,288
    RUOFF MORTGAGE COMPANY, INC. 3 6.33% $7,260
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.75% $7,850
    EMM LOANS LLC 2 6.25% $11,029
    INTERLINC MORTGAGE SERVICES, LLC 2 6.75% $6,207
    LIBERTY HOME MORTGAGE CORPORATION 2 6.38% $20,994
    Magnolia Bank 2 7.63% $18,454
    EVANSVILLE TEACHERS 2 6.63% $13,992
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.13% $18,416
    NATIONWIDE MORTGAGE BANKERS, INC. 2 6.88% $10,199
    NETWORK CAPITAL FUNDING CORPORATION 2 5.94% $16,757
    CRESCENT MORTGAGE COMPANY 2 6.06% $7,152
    Consumer First Mortgage, Inc. 2 6.62% $7,818
    PNC Bank 2 6.31% $7,857
    POLARIS HOME FUNDING CORP. 2 6.81% $16,709
    ROYAL UNITED MORTGAGE LLC 2 6.69% $7,163
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 7.12% $11,043
    SOVEREIGN LENDING GROUP INCORPORATED 2 5.50% $16,325
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.63% $10,882
    TOP FLITE FINANCIAL, INC. 2 6.75% $12,671
    AmeriHome Mortgage Company, LLC 2 6.38% $10,820
    Valley National Bank 2 6.50% $10,454
    ZILLOW HOME LOANS, LLC 2 6.69% $8,873
    HOMESIDE FINANCIAL, LLC 2 6.75% $8,150
    NATIONS RELIABLE LENDING, LLC 1 7.25% $11,127
    CERTAINTY HOME LOANS, LLC 1 6.75% $6,576
    EMBRACE HOME LOANS, INC. 1 5.38% $17,353
    CB&S Bank, Inc. 1 7.63% $9,663
    BNC National Bank 1 7.13% $7,707
    1ST SIGNATURE LENDING, LLC 1 6.63% $7,920
    BECKAM FUNDING CORP. 1 6.75% $7,472
    RESIDENTIAL BANCORP 1 6.75% $13,107
    FirstTrust Home Loans, Inc. 1 6.99% $6,042
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.13% $13,900
    S1L, Inc. 1 7.25% $11,285
    SeaTrust Mortgage Company 1 7.75% $8,367
    ENVOY MORTGAGE, LTD 1 6.75% $14,467
    SIRVA MORTGAGE, INC. 1 6.63% $4,575
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.63% $3,629
    BAY-VALLEY MORTGAGE GROUP 1 6.75% $12,621
    Victorian Finance, LLC 1 7.00% $21,184
    Willamette Valley Bank 1 6.25% $9,427
    SOUTHWEST STAGE FUNDING, LLC 1 6.63% $6,655
    Gateway First Bank 1 6.88% $7,232
    MIDLAND MORTGAGE CORPORATION 1 6.25% $1,563
    Washington Trust Bank 1 6.38% $6,460
    Wilmington Savings Fund Society, FSB 1 5.75% $7,278
    First Merchants Bank 1 6.25% $3,844
    MICHIGAN MUTUAL, INC. 1 7.63% $8,164
    First Option Mortgage, LLC 1 6.38% $9,529
    BANKSOUTH MORTGAGE COMPANY, LLC 1 5.75% $9,749
    Bank of America 1 7.75% $7,129
    Waterstone Mortgage Corporation 1 6.13% $11,433
    Total Media Management, LLC 1 7.50% $7,077
    LAND HOME FINANCIAL SERVICES, INC. 1 7.00% $11,524
    First Savings Bank 1 6.25% $9,103
    Keystone Funding, Inc. 1 6.75% $15,893
    GUARANTY HOME MORTGAGE CORPORATION 1 6.63% $4,479
    KEESLER 1 6.00% $8,934
    JPMorgan Chase Bank 1 6.25% $5,141
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.50% $8,416
    Origin Bank 1 6.50% $10,283
    CONTOUR MORTGAGE CORPORATION 1 5.00% $14,617
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $5,984
    PHH Mortgage Corporation 1 7.13% $11,711
    ON Q FINANCIAL, INC. 1 7.38% $10,401
    U.S. Bank 1 6.63% $9,894
    North American Savings Bank, F.S.B. 1 5.63% $5,465
    DELMAR FINANCIAL COMPANY 1 6.63% $7,548
    US MORTGAGE CORPORATION 1 6.63% $10,883
    GSF Mortgage Corporation 1 7.13% $21,611
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.75% $13,064

    The top Birmingham FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 320 FHA loans originated. Their average total fees are $11,210, which is $1,454 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Birmingham FHA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,908), SouthPoint Bank ($7,164), BancorpSouth ($7,170), First Horizon Bank ($7,371) and ARK-LA-TEX FINANCIAL SERVICES, LLC. ($7,586).

    The lowest rate Birmingham FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.26%), INSPIRE HOME LOANS INC. (5.70%), PENNYMAC LOAN SERVICES, LLC (6.02%), Carrington Mortgage Services, LLC (6.03%) and GMFS LLC (6.07%).

    Birmingham FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BIRMINGHAM-HOOVER, AL BIBB 2022 $420,680 $538,650 $651,050 $809,150
    BIRMINGHAM-HOOVER, AL BLOUNT 2022 $420,680 $538,650 $651,050 $809,150
    BIRMINGHAM-HOOVER, AL CHILTON 2022 $420,680 $538,650 $651,050 $809,150
    BIRMINGHAM-HOOVER, AL JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
    BIRMINGHAM-HOOVER, AL ST. CLAIR 2022 $420,680 $538,650 $651,050 $809,150
    BIRMINGHAM-HOOVER, AL SHELBY 2022 $420,680 $538,650 $651,050 $809,150
    BIRMINGHAM-HOOVER, AL BIBB 2023 $472,030 $604,400 $730,525 $907,900
    BIRMINGHAM-HOOVER, AL BLOUNT 2023 $472,030 $604,400 $730,525 $907,900
    BIRMINGHAM-HOOVER, AL CHILTON 2023 $472,030 $604,400 $730,525 $907,900
    BIRMINGHAM-HOOVER, AL JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
    BIRMINGHAM-HOOVER, AL ST. CLAIR 2023 $472,030 $604,400 $730,525 $907,900
    BIRMINGHAM-HOOVER, AL SHELBY 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Birmingham (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 $199,900 (5.9%) $268,518 (8.0%) 0.77 4,618
    2018-02-01 $204,800 (7.8%) $271,347 (6.6%) 0.77 4,521
    2018-03-01 $218,900 (9.5%) $284,975 (7.9%) 0.79 4,429
    2018-04-01 $228,528 (8.9%) $295,582 (8.6%) 0.79 4,503
    2018-05-01 $232,400 (8.1%) $303,020 (8.1%) 0.80 4,632
    2018-06-01 $230,000 (6.3%) $304,604 (8.3%) 0.79 4,715
    2018-07-01 $234,421 (9.1%) $302,223 (8.7%) 0.80 4,849
    2018-08-01 $234,280 (11.5%) $302,470 (9.9%) 0.80 4,919
    2018-09-01 $227,855 (8.6%) $301,041 (11.0%) 0.77 4,864
    2018-10-01 $222,888 (6.2%) $294,686 (7.6%) 0.77 4,825
    2018-11-01 $224,900 (9.7%) $298,673 (10.9%) 0.78 4,646
    2018-12-01 $225,000 (10.7%) $298,886 (11.9%) 0.79 4,329
    2019-01-01 $226,894 (13.5%) $297,592 (10.8%) 0.80 4,033
    2019-02-01 $236,950 (15.7%) $311,666 (14.9%) 0.82 3,969
    2019-03-01 $244,186 (11.6%) $321,527 (12.8%) 0.83 3,946
    2019-04-01 $252,400 (10.5%) $331,900 (12.3%) 0.82 3,956
    2019-05-01 $259,211 (11.5%) $334,511 (10.4%) 0.83 3,983
    2019-06-01 $259,900 (13.0%) $334,666 (9.9%) 0.83 4,196
    2019-07-01 $260,075 (10.9%) $333,956 (10.5%) 0.84 4,321
    2019-08-01 $262,809 (12.2%) $331,893 (9.7%) 0.85 4,319
    2019-09-01 $261,173 (14.6%) $329,260 (9.4%) 0.85 4,272
    2019-10-01 $259,900 (16.6%) $327,265 (11.1%) 0.85 4,210
    2019-11-01 $257,940 (14.7%) $324,216 (8.6%) 0.85 4,003
    2019-12-01 $249,900 (11.1%) $320,829 (7.3%) 0.85 3,688
    2020-01-01 $249,900 (10.1%) $322,296 (8.3%) 0.85 3,399
    2020-02-01 $256,278 (8.2%) $328,693 (5.5%) 0.85 3,376
    2020-03-01 $260,375 (6.6%) $338,719 (5.4%) 0.84 3,303
    2020-04-01 $260,000 (3.0%) $335,790 (1.2%) 0.83 3,361
    2020-05-01 $265,450 (2.4%) $347,834 (4.0%) 0.82 3,293
    2020-06-01 $272,933 (5.0%) $356,796 (6.6%) 0.82 3,115
    2020-07-01 $273,702 (5.2%) $355,346 (6.4%) 0.81 2,946
    2020-08-01 $269,950 (2.7%) $355,637 (7.2%) 0.79 2,791
    2020-09-01 $270,200 (3.5%) $354,987 (7.8%) 0.78 2,690
    2020-10-01 $259,650 (-0.1%) $347,497 (6.2%) 0.76 2,728
    2020-11-01 $256,448 (-0.6%) $343,730 (6.0%) 0.76 2,616
    2020-12-01 $255,575 (2.3%) $342,169 (6.7%) 0.78 2,413
    2021-01-01 $257,375 (3.0%) $341,038 (5.8%) 0.78 2,189
    2021-02-01 $259,400 (1.2%) $349,727 (6.4%) 0.77 1,835
    2021-03-01 $263,875 (1.3%) $363,247 (7.2%) 0.77 1,766
    2021-04-01 $275,052 (5.8%) $381,878 (13.7%) 0.76 1,666
    2021-05-01 $279,900 (5.4%) $384,020 (10.4%) 0.74 1,549
    2021-06-01 $272,500 (-0.2%) $372,022 (4.3%) 0.73 1,652
    2021-07-01 $269,900 (-1.4%) $364,039 (2.5%) 0.73 1,956
    2021-08-01 $272,500 (0.9%) $364,359 (2.5%) 0.74 2,058
    2021-09-01 $273,716 (1.3%) $366,924 (3.4%) 0.73 1,992
    2021-10-01 $282,700 (8.9%) $372,861 (7.3%) 0.76 1,940
    2021-11-01 $275,250 (7.3%) $371,925 (8.2%) 0.75 1,795
    2021-12-01 $271,556 (6.3%) $368,307 (7.6%) 0.74 1,665
    2022-01-01 $264,400 (2.7%) $360,956 (5.8%) 0.72 1,517
    2022-02-01 $259,000 (-0.2%) $366,644 (4.8%) 0.68 1,511
    2022-03-01 $260,725 (-1.2%) $371,431 (2.3%) 0.66 1,500
    2022-04-01 $275,000 (0.0%) $387,009 (1.3%) 0.66 1,590
    2022-05-01 $289,900 (3.6%) $401,213 (4.5%) 0.67 1,725
    2022-06-01 $295,075 (8.3%) $399,480 (7.4%) 0.67 2,057
    2022-07-01 $299,000 (10.8%) $389,957 (7.1%) 0.67 2,487
    2022-08-01 $285,560 (4.8%) $376,406 (3.3%) 0.66 2,600
    2022-09-01 $281,548 (2.9%) $369,702 (0.8%) 0.66 2,600
    2022-10-01 $279,900 (-1.0%) $368,719 (-1.1%) 0.66 2,786
    2022-11-01 $275,285 (0.0%) $361,653 (-2.8%) 0.66 2,905
    2022-12-01 $274,900 (1.2%) $358,231 (-2.7%) 0.68 2,791
    2023-01-01 $271,542 (2.7%) $358,663 (-0.6%) 0.67 2,601
    2023-02-01 $273,700 (5.7%) $362,620 (-1.1%) 0.65 2,455
    2023-03-01 $279,450 (7.2%) $370,556 (-0.2%) 0.66 2,435
    2023-04-01 $289,425 (5.3%) $383,475 (-0.9%) 0.66 2,383
    2023-05-01 $297,700 (2.7%) $396,014 (-1.3%) 0.67 2,410
    2023-06-01 $301,087 (2.0%) $397,473 (-0.5%) 0.67 2,519
    2023-07-01 $299,000 (0.0%) $389,864 (0.0%) 0.68 2,754
    2023-08-01 $297,250 (4.1%) $387,676 (3.0%) 0.68 2,894
    2023-09-01 $299,000 (6.2%) $380,455 (2.9%) 0.70 3,017
    2023-10-01 $294,950 (5.4%) $379,654 (3.0%) 0.69 3,216
    2023-11-01 $289,950 (5.3%) $379,770 (5.0%) 0.70 3,295
    2023-12-01 $286,500 (4.2%) $377,177 (5.3%) 0.71 3,177
    2024-01-01 $282,998 (4.2%) $371,741 (3.7%) 0.70 3,030
    2024-02-01 $284,269 (3.9%) $370,311 (2.1%) 0.69 3,069
    2024-03-01 $289,900 (3.7%) $378,476 (2.1%) 0.68 3,136
    2024-04-01 $295,371 (2.1%) $383,023 (-0.1%) 0.69 3,287
    2024-05-01 $299,900 (0.7%) $390,287 (-1.5%) 0.68 3,456
    2024-06-01 $300,000 (-0.4%) $392,852 (-1.2%) 0.68 3,565
    2024-07-01 $301,425 (0.8%) $390,525 (0.2%) 0.69 3,742
    2024-08-01 $300,000 (0.9%) $391,878 (1.1%) 0.71 3,799
    2024-09-01 $299,950 (0.3%) $390,248 (2.6%) 0.71 3,901
    2024-10-01 $299,900 (1.7%) $387,037 (1.9%) 0.71 3,991
    2024-11-01 $295,000 (1.7%) $383,034 (0.9%) 0.72 3,943
    2024-12-01 $287,950 (0.5%) $375,219 (-0.5%) 0.72 3,752
    2025-01-01 $284,925 (0.7%) $369,298 (-0.7%) 0.00 3,563
    Birmingham's median listing price for 2025-01-01 was $284,925, a difference of $1,927 (0.7%) versus the prior year and $-3,025 versus the prior month.

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

    Birmingham's average listing price for 2025-01-01 was $369,298, a difference of $-2,443 (-0.7%) versus the prior year and $-5,921 versus the prior month.

    For the 2025-01-01 period, Birmingham had 3,563 MLS listings, a difference of -189 listings (-5%) versus the prior month and 533 listings (18%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Birmingham (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 93 days 1,915 sqft
    2018-02-01 86 days 1,913 sqft
    2018-03-01 62 days 1,874 sqft
    2018-04-01 59 days 1,880 sqft
    2018-05-01 54 days 1,899 sqft
    2018-06-01 55 days 1,908 sqft
    2018-07-01 59 days 1,934 sqft
    2018-08-01 60 days 1,934 sqft
    2018-09-01 63 days 1,900 sqft
    2018-10-01 69 days 1,861 sqft
    2018-11-01 72 days 1,865 sqft
    2018-12-01 79 days 1,880 sqft
    2019-01-01 85 days 1,883 sqft
    2019-02-01 73 days 1,906 sqft
    2019-03-01 62 days 1,940 sqft
    2019-04-01 55 days 1,967 sqft
    2019-05-01 51 days 1,981 sqft
    2019-06-01 53 days 1,973 sqft
    2019-07-01 54 days 1,967 sqft
    2019-08-01 57 days 1,968 sqft
    2019-09-01 62 days 1,959 sqft
    2019-10-01 66 days 1,955 sqft
    2019-11-01 72 days 1,966 sqft
    2019-12-01 80 days 1,950 sqft
    2020-01-01 81 days 2,001 sqft
    2020-02-01 69 days 2,111 sqft
    2020-03-01 59 days 2,142 sqft
    2020-04-01 61 days 2,129 sqft
    2020-05-01 63 days 2,125 sqft
    2020-06-01 62 days 2,127 sqft
    2020-07-01 57 days 2,153 sqft
    2020-08-01 54 days 2,138 sqft
    2020-09-01 54 days 2,116 sqft
    2020-10-01 51 days 2,055 sqft
    2020-11-01 55 days 2,025 sqft
    2020-12-01 66 days 1,989 sqft
    2021-01-01 66 days 1,967 sqft
    2021-02-01 47 days 1,943 sqft
    2021-03-01 42 days 1,968 sqft
    2021-04-01 37 days 2,002 sqft
    2021-05-01 40 days 2,010 sqft
    2021-06-01 36 days 1,948 sqft
    2021-07-01 33 days 1,920 sqft
    2021-08-01 35 days 1,927 sqft
    2021-09-01 41 days 1,909 sqft
    2021-10-01 50 days 1,920 sqft
    2021-11-01 57 days 1,901 sqft
    2021-12-01 55 days 1,878 sqft
    2022-01-01 64 days 1,816 sqft
    2022-02-01 38 days 1,811 sqft
    2022-03-01 32 days 1,802 sqft
    2022-04-01 30 days 1,850 sqft
    2022-05-01 31 days 1,846 sqft
    2022-06-01 29 days 1,872 sqft
    2022-07-01 30 days 1,882 sqft
    2022-08-01 37 days 1,860 sqft
    2022-09-01 45 days 1,851 sqft
    2022-10-01 46 days 1,848 sqft
    2022-11-01 52 days 1,846 sqft
    2022-12-01 63 days 1,817 sqft
    2023-01-01 68 days 1,801 sqft
    2023-02-01 63 days 1,801 sqft
    2023-03-01 51 days 1,820 sqft
    2023-04-01 45 days 1,840 sqft
    2023-05-01 43 days 1,898 sqft
    2023-06-01 43 days 1,924 sqft
    2023-07-01 44 days 1,927 sqft
    2023-08-01 44 days 1,929 sqft
    2023-09-01 49 days 1,920 sqft
    2023-10-01 51 days 1,911 sqft
    2023-11-01 53 days 1,884 sqft
    2023-12-01 61 days 1,864 sqft
    2024-01-01 71 days 1,827 sqft
    2024-02-01 65 days 1,820 sqft
    2024-03-01 50 days 1,834 sqft
    2024-04-01 46 days 1,850 sqft
    2024-05-01 43 days 1,858 sqft
    2024-06-01 45 days 1,865 sqft
    2024-07-01 50 days 1,880 sqft
    2024-08-01 50 days 1,898 sqft
    2024-09-01 54 days 1,899 sqft
    2024-10-01 57 days 1,902 sqft
    2024-11-01 59 days 1,869 sqft
    2024-12-01 69 days 1,832 sqft
    2025-01-01 0 days 1,823 sqft
    Birmingham'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.

    Birmingham's median square footage for active listings during the 2025-01-01 period was 1,823 sqft. One year prior, the average listing was 1,827 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).