Carbondale FHA Loan Rates, Closing Costs & Stats

CARBONDALE-MARION, IL

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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.

    Carbondale's 40 lenders originated 190 FHA loans during 2024. The total origination value was $28,730,000, with an average FHA loan value of $151,211.

    Carbondale FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Carbondale averaged 6.49% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Carbondale's average FHA mortgage closing costs are $5,694.

    The average rate for the prior week (2025-03-28) was 6.38% and one month ago for the week of 2025-02-28, the average rate was 6.77%.

    The average rate one year ago was 6.89%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.52%.

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

    Carbondale 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 Carbondale level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 25 6.55% $7,760
    QUICKEN LOANS, LLC 22 6.59% $7,518
    GERSHMAN INVESTMENT CORP. 16 6.97% $5,591
    U.S. Bank 11 6.68% $5,235
    Flagstar Bank, FSB 8 6.38% $5,491
    PENNYMAC LOAN SERVICES, LLC 7 6.39% $5,697
    BROKER SOLUTIONS, INC. 5 6.98% $8,115
    GUARANTEED RATE, INC. 5 6.72% $7,539
    Equity Prime Mortgage LLC 4 6.34% $7,742
    MEMBER FIRST MORTGAGE, LLC 4 6.63% $6,076
    Regions Bank 4 6.34% $5,788
    NEWREZ LLC 3 6.58% $7,695
    UNITED WHOLESALE MORTGAGE, LLC 3 5.62% $10,575
    AMERICAN FINANCING CORPORATION 2 6.19% $8,568
    CROSSCOUNTRY MORTGAGE, LLC 2 6.25% $9,392
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.75% $7,201
    FREEDOM MORTGAGE CORPORATION 2 6.56% $9,713
    ZILLOW HOME LOANS, LLC 2 6.31% $9,830
    FAMILY FINANCE MORTGAGE, LLC 1 6.75% $7,542
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $10,166
    LEADERONE FINANCIAL CORPORATION 1 5.75% $13,273
    FAIR WAY LENDING LLC 1 6.88% $12,317
    Mortgage Research Center, LLC 1 5.25% $3,791
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $8,138
    Nations Lending Corporation 1 6.63% $12,606
    DAS Acquisition Company, LLC 1 7.25% $7,184
    Paramount Residential Mortgage Group, Inc. 1 6.25% $8,476
    Citibank 1 6.75% $4,783
    Peoples National Bank , N.A. 1 7.00% $4,319
    PNC Bank 1 6.00% $7,519
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.75% $6,074
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $3,814
    AMERISAVE MORTGAGE CORPORATION 1 6.00% $13,400
    SUN WEST MORTGAGE COMPANY, INC. 1 5.88% $8,376
    UNION HOME MORTGAGE CORP. 1 7.13% $8,483
    United Community Bank 1 7.50% $10,572
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.13% $8,018
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.13% $13,497
    Wolfe Financial, Inc 1 6.63% $7,680
    FLAT BRANCH MORTGAGE, INC. 1 6.88% $5,550

    The top Carbondale FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 25 FHA loans originated. Their average total fees are $7,760, which is $242 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Carbondale FHA lenders (with over 10 loans originated) are U.S. Bank ($5,235), GERSHMAN INVESTMENT CORP. ($5,591), QUICKEN LOANS, LLC ($7,518), GUILD MORTGAGE COMPANY ($7,760) and .

    The lowest rate Carbondale FHA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (6.55%), QUICKEN LOANS, LLC (6.59%), U.S. Bank (6.68%), GERSHMAN INVESTMENT CORP. (6.97%) and .

    Carbondale FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CARBONDALE-MARION, IL JACKSON 2022 $420,680 $538,650 $651,050 $809,150
    CARBONDALE-MARION, IL JOHNSON 2022 $420,680 $538,650 $651,050 $809,150
    CARBONDALE-MARION, IL WILLIAMSON 2022 $420,680 $538,650 $651,050 $809,150
    CARBONDALE-MARION, IL JACKSON 2023 $472,030 $604,400 $730,525 $907,900
    CARBONDALE-MARION, IL JOHNSON 2023 $472,030 $604,400 $730,525 $907,900
    CARBONDALE-MARION, IL WILLIAMSON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Carbondale (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 $109,975 (10.0%) $151,270 (2.6%) 0.00 317
    2018-02-01 $109,450 (0.5%) $150,672 (1.0%) 0.00 323
    2018-03-01 $112,000 (12.1%) $149,767 (-1.1%) 0.00 354
    2018-04-01 $112,950 (4.6%) $153,440 (-2.3%) 0.00 362
    2018-05-01 $110,000 (7.4%) $152,395 (-0.6%) 0.00 349
    2018-06-01 $109,900 (7.3%) $149,636 (-1.5%) 0.00 360
    2018-07-01 $109,900 (4.7%) $150,766 (-3.9%) 0.00 350
    2018-08-01 $109,450 (0.5%) $149,635 (-1.7%) 0.00 356
    2018-09-01 $108,000 (-0.9%) $149,221 (-0.5%) 0.00 361
    2018-10-01 $104,975 (-4.1%) $145,915 (-3.3%) 0.00 355
    2018-11-01 $99,999 (-9.0%) $143,332 (-6.0%) 0.00 351
    2018-12-01 $99,900 (-9.1%) $144,418 (-5.0%) 0.00 342
    2019-01-01 $99,450 (-9.6%) $143,337 (-5.2%) 0.00 327
    2019-02-01 $99,975 (-8.7%) $148,847 (-1.2%) 0.00 308
    2019-03-01 $102,957 (-8.1%) $150,538 (0.5%) 0.00 312
    2019-04-01 $99,450 (-12.0%) $148,447 (-3.3%) 0.00 326
    2019-05-01 $98,750 (-10.2%) $146,898 (-3.6%) 0.00 333
    2019-06-01 $96,900 (-11.8%) $146,263 (-2.3%) 0.00 340
    2019-07-01 $97,625 (-11.2%) $145,107 (-3.8%) 0.00 333
    2019-08-01 $96,245 (-12.1%) $142,917 (-4.5%) 0.00 329
    2019-09-01 $95,489 (-11.6%) $141,459 (-5.2%) 0.00 332
    2019-10-01 $94,924 (-9.6%) $140,487 (-3.7%) 0.00 334
    2019-11-01 $95,250 (-4.8%) $139,841 (-2.4%) 0.00 321
    2019-12-01 $89,950 (-10.0%) $134,307 (-7.0%) 0.00 304
    2020-01-01 $89,999 (-9.5%) $137,023 (-4.4%) 0.00 289
    2020-02-01 $94,000 (-6.0%) $132,622 (-10.9%) 0.00 297
    2020-03-01 $95,749 (-7.0%) $137,152 (-8.9%) 0.00 306
    2020-04-01 $94,874 (-4.6%) $135,747 (-8.6%) 0.00 304
    2020-05-01 $99,000 (0.3%) $138,610 (-5.6%) 0.00 291
    2020-06-01 $94,499 (-2.5%) $134,297 (-8.2%) 0.00 284
    2020-07-01 $95,750 (-1.9%) $136,284 (-6.1%) 0.00 258
    2020-08-01 $93,000 (-3.4%) $137,900 (-3.5%) 0.00 245
    2020-09-01 $94,750 (-0.8%) $139,071 (-1.7%) 0.00 240
    2020-10-01 $98,750 (4.0%) $139,244 (-0.9%) 0.00 210
    2020-11-01 $103,050 (8.2%) $137,808 (-1.5%) 0.00 198
    2020-12-01 $100,425 (11.7%) $137,741 (2.6%) 0.00 183
    2021-01-01 $100,950 (12.2%) $141,000 (2.9%) 0.00 174
    2021-02-01 $106,175 (13.0%) $150,188 (13.2%) 0.00 143
    2021-03-01 $107,400 (12.2%) $156,674 (14.2%) 0.00 141
    2021-04-01 $111,000 (17.0%) $165,455 (21.9%) 0.00 129
    2021-05-01 $99,000 (0.0%) $151,293 (9.2%) 0.00 126
    2021-06-01 $109,950 (16.4%) $159,375 (18.7%) 0.00 118
    2021-07-01 $93,450 (-2.4%) $146,742 (7.7%) 0.00 122
    2021-08-01 $89,225 (-4.1%) $146,155 (6.0%) 0.00 119
    2021-09-01 $91,200 (-3.8%) $153,562 (10.4%) 0.00 120
    2021-10-01 $99,900 (1.2%) $155,147 (11.4%) 0.00 124
    2021-11-01 $77,438 (-24.9%) $143,363 (4.0%) 0.00 121
    2021-12-01 $74,925 (-25.4%) $138,542 (0.6%) 0.00 126
    2022-01-01 $69,000 (-31.7%) $117,471 (-16.7%) 0.00 138
    2022-02-01 $54,725 (-48.5%) $94,029 (-37.4%) 0.00 181
    2022-03-01 $68,225 (-36.5%) $106,304 (-32.2%) 0.00 95
    2022-04-01 $79,900 (-28.0%) $131,134 (-20.7%) 0.00 88
    2022-05-01 $92,625 (-6.4%) $152,900 (1.1%) 0.00 86
    2022-06-01 $106,750 (-2.9%) $158,650 (-0.5%) 0.00 89
    2022-07-01 $100,700 (7.8%) $157,425 (7.3%) 0.00 109
    2022-08-01 $113,000 (26.7%) $161,280 (10.4%) 0.00 118
    2022-09-01 $115,000 (26.1%) $184,693 (20.3%) 0.00 119
    2022-10-01 $109,800 (9.9%) $178,108 (14.8%) 0.00 122
    2022-11-01 $111,981 (44.6%) $179,749 (25.4%) 0.00 133
    2022-12-01 $111,963 (49.4%) $187,024 (35.0%) 0.00 121
    2023-01-01 $114,925 (66.6%) $187,071 (59.3%) 0.00 117
    2023-02-01 $114,950 (110.1%) $188,309 (100.3%) 0.00 106
    2023-03-01 $114,900 (68.4%) $195,247 (83.7%) 0.00 98
    2023-04-01 $110,000 (37.7%) $187,921 (43.3%) 0.00 104
    2023-05-01 $104,725 (13.1%) $183,280 (19.9%) 0.00 95
    2023-06-01 $96,850 (-9.3%) $184,667 (16.4%) 0.00 94
    2023-07-01 $108,000 (7.3%) $202,225 (28.5%) 0.00 96
    2023-08-01 $99,925 (-11.6%) $189,887 (17.7%) 0.00 100
    2023-09-01 $107,000 (-7.0%) $193,057 (4.5%) 0.00 111
    2023-10-01 $108,750 (-1.0%) $179,220 (0.6%) 0.00 113
    2023-11-01 $124,725 (11.4%) $190,382 (5.9%) 0.00 105
    2023-12-01 $110,000 (-1.8%) $175,290 (-6.3%) 0.00 107
    2024-01-01 $99,900 (-13.1%) $174,766 (-6.6%) 0.00 107
    2024-02-01 $91,500 (-20.4%) $157,684 (-16.3%) 0.00 122
    2024-03-01 $95,000 (-17.3%) $163,884 (-16.1%) 0.00 121
    2024-04-01 $93,500 (-15.0%) $162,084 (-13.8%) 0.00 128
    2024-05-01 $85,000 (-18.8%) $142,850 (-22.1%) 0.00 138
    2024-06-01 $95,000 (-1.9%) $158,115 (-14.4%) 0.00 139
    2024-07-01 $103,500 (-4.2%) $174,489 (-13.7%) 0.00 144
    2024-08-01 $109,000 (9.1%) $199,164 (4.9%) 0.00 147
    2024-09-01 $112,500 (5.1%) $194,515 (0.8%) 0.00 138
    2024-10-01 $126,250 (16.1%) $196,998 (9.9%) 0.00 138
    2024-11-01 $126,500 (1.4%) $190,994 (0.3%) 0.00 135
    2024-12-01 $114,850 (4.4%) $187,949 (7.2%) 0.00 139
    2025-01-01 $124,250 (24.4%) $188,411 (7.8%) 0.00 129
    2025-02-01 $130,675 (42.8%) $193,962 (23.0%) 0.00 116
    2025-03-01 $157,450 (65.7%) $225,657 (37.7%) 0.00 103
    Carbondale's median listing price for 2025-03-01 was $157,450, a difference of $62,450 (65.7%) versus the prior year and $26,775 versus the prior month.

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

    Carbondale's average listing price for 2025-03-01 was $225,657, a difference of $61,773 (37.7%) versus the prior year and $31,695 versus the prior month.

    For the 2025-03-01 period, Carbondale had 103 MLS listings, a difference of -13 listings (-11%) versus the prior month and -18 listings (-15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Carbondale (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,636 sqft
    2018-02-01 0 days 1,608 sqft
    2018-03-01 0 days 1,612 sqft
    2018-04-01 0 days 1,653 sqft
    2018-05-01 0 days 1,653 sqft
    2018-06-01 0 days 1,632 sqft
    2018-07-01 0 days 1,625 sqft
    2018-08-01 0 days 1,657 sqft
    2018-09-01 0 days 1,684 sqft
    2018-10-01 0 days 1,617 sqft
    2018-11-01 0 days 1,619 sqft
    2018-12-01 0 days 1,615 sqft
    2019-01-01 0 days 1,595 sqft
    2019-02-01 0 days 1,602 sqft
    2019-03-01 0 days 1,627 sqft
    2019-04-01 0 days 1,641 sqft
    2019-05-01 0 days 1,612 sqft
    2019-06-01 0 days 1,600 sqft
    2019-07-01 0 days 1,602 sqft
    2019-08-01 0 days 1,596 sqft
    2019-09-01 0 days 1,598 sqft
    2019-10-01 0 days 1,600 sqft
    2019-11-01 0 days 1,578 sqft
    2019-12-01 0 days 1,505 sqft
    2020-01-01 0 days 1,521 sqft
    2020-02-01 0 days 1,500 sqft
    2020-03-01 0 days 1,578 sqft
    2020-04-01 0 days 1,528 sqft
    2020-05-01 0 days 1,547 sqft
    2020-06-01 0 days 1,580 sqft
    2020-07-01 0 days 1,590 sqft
    2020-08-01 0 days 1,489 sqft
    2020-09-01 0 days 1,467 sqft
    2020-10-01 0 days 1,468 sqft
    2020-11-01 0 days 1,495 sqft
    2020-12-01 0 days 1,449 sqft
    2021-01-01 0 days 1,450 sqft
    2021-02-01 0 days 1,478 sqft
    2021-03-01 0 days 1,477 sqft
    2021-04-01 0 days 1,474 sqft
    2021-05-01 0 days 1,501 sqft
    2021-06-01 0 days 1,532 sqft
    2021-07-01 0 days 1,450 sqft
    2021-08-01 0 days 1,430 sqft
    2021-09-01 0 days 1,402 sqft
    2021-10-01 0 days 1,411 sqft
    2021-11-01 0 days 1,245 sqft
    2021-12-01 0 days 1,231 sqft
    2022-01-01 0 days 1,208 sqft
    2022-02-01 0 days 1,152 sqft
    2022-03-01 0 days 1,206 sqft
    2022-04-01 0 days 1,325 sqft
    2022-05-01 0 days 1,317 sqft
    2022-06-01 0 days 1,415 sqft
    2022-07-01 0 days 1,530 sqft
    2022-08-01 0 days 1,574 sqft
    2022-09-01 0 days 1,592 sqft
    2022-10-01 0 days 1,600 sqft
    2022-11-01 0 days 1,621 sqft
    2022-12-01 0 days 1,613 sqft
    2023-01-01 0 days 1,616 sqft
    2023-02-01 0 days 1,627 sqft
    2023-03-01 0 days 1,580 sqft
    2023-04-01 0 days 1,605 sqft
    2023-05-01 0 days 1,628 sqft
    2023-06-01 0 days 1,613 sqft
    2023-07-01 0 days 1,633 sqft
    2023-08-01 0 days 1,656 sqft
    2023-09-01 0 days 1,633 sqft
    2023-10-01 0 days 1,559 sqft
    2023-11-01 0 days 1,659 sqft
    2023-12-01 0 days 1,649 sqft
    2024-01-01 0 days 1,616 sqft
    2024-02-01 0 days 1,556 sqft
    2024-03-01 0 days 1,513 sqft
    2024-04-01 0 days 1,482 sqft
    2024-05-01 0 days 1,441 sqft
    2024-06-01 0 days 1,422 sqft
    2024-07-01 0 days 1,545 sqft
    2024-08-01 0 days 1,558 sqft
    2024-09-01 0 days 1,558 sqft
    2024-10-01 0 days 1,566 sqft
    2024-11-01 0 days 1,582 sqft
    2024-12-01 0 days 1,523 sqft
    2025-01-01 0 days 1,524 sqft
    2025-02-01 0 days 1,583 sqft
    2025-03-01 0 days 1,682 sqft
    Carbondale's median listing age (time on market) for 2025-03-01 was 0 days.

    Carbondale's median square footage for active listings during the 2025-03-01 period was 1,682 sqft. One year prior, the average listing was 1,513 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).