Charleston FHA Loan Rates, Closing Costs & Stats

CHARLESTON-NORTH CHARLESTON, SC

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.

Charleston's 169 lenders originated 2,930 FHA loans during 2023. The total origination value was $923,920,000, with an average FHA loan value of $315,331.

Charleston FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Charleston averaged 6.25% for the week of 2024-07-05, compared to the national average (all FHA variants) of 6.724% for the same period.

Charleston's average FHA mortgage closing costs are $9,081.

The average rate for the prior week (2024-06-28) was 6.21% and one month ago for the week of 2024-05-31, the average rate was 6.7%.

The average rate one year ago was 6.57%.

For refis of the same type during the week of 2024-07-05, the average rate was 6.53%.

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

Charleston 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 Charleston level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
DHI MORTGAGE COMPANY, LTD. 261 5.30% $9,017
QUICKEN LOANS, LLC 197 6.18% $12,972
UNITED WHOLESALE MORTGAGE, LLC 194 6.27% $13,347
EAGLE HOME MORTGAGE, LLC 141 5.81% $15,178
VELOCIO MORTGAGE L.L.C. 133 5.43% $12,803
MOVEMENT MORTGAGE, LLC 108 6.45% $13,988
CROSSCOUNTRY MORTGAGE, LLC 87 6.80% $13,561
AMERICAN PACIFIC MORTGAGE CORPORATION 86 6.31% $17,032
GUILD MORTGAGE COMPANY 62 6.53% $12,738
CALCON MUTUAL MORTGAGE LLC 52 6.54% $14,484
CMG MORTGAGE, INC. 52 6.61% $11,974
Ameris Bank 46 6.45% $13,822
MIDLAND MORTGAGE CORPORATION 45 6.48% $10,581
CAROLINA ONE MORTGAGE, LLC 42 6.56% $12,392
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 38 6.84% $13,583
LOANDEPOT.COM, LLC 37 6.33% $12,396
Princeton Mortgage Corporation 34 6.74% $12,550
INTERLINC MORTGAGE SERVICES, LLC 33 6.73% $8,991
PLAZA HOME MORTGAGE, INC. 31 6.25% $12,631
PRIMELENDING, A PLAINSCAPITAL COMPANY 30 6.80% $14,882
CARDINAL FINANCIAL 29 6.64% $15,434
DIRECT MORTGAGE LOANS, LLC 29 6.78% $13,718
FREEDOM MORTGAGE CORPORATION 25 6.95% $14,820
Nations Lending Corporation 24 6.44% $10,171
NEWREZ LLC 24 6.44% $11,983
Mr. Cooper ( Nationstar Mortgage ) 24 6.13% $16,314
Atlantic Coast Mortgage, LLC 23 6.69% $14,656
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 23 6.43% $14,045
NTFN, INC. 21 6.58% $14,213
PENNYMAC LOAN SERVICES, LLC 20 5.79% $14,392
BROKER SOLUTIONS, INC. 19 6.58% $11,604
PULTE MORTGAGE LLC 18 6.28% $8,672
PRIMARY RESIDENTIAL MORTGAGE, INC. 17 6.65% $14,589
GUARANTEED RATE, INC. 15 6.34% $14,048
AMERISAVE MORTGAGE CORPORATION 14 5.88% $17,711
MUTUAL OF OMAHA MORTGAGE, INC. 13 6.84% $15,287
Regions Bank 13 5.80% $12,358
GUARANTEED RATE AFFINITY, LLC 13 6.62% $12,139
Flagstar Bank, FSB 13 6.35% $11,995
NATION ONE MORTGAGE CORPORATION 12 7.30% $16,633
South State Bank 12 6.19% $12,701
Carrington Mortgage Services, LLC 12 5.91% $16,266
LEGEND LENDING CORPORATION 12 6.54% $19,197
Renasant Bank 12 6.10% $12,382
First Heritage Mortgage, LLC 11 6.45% $13,427
Alcova Mortgage LLC 11 7.25% $7,799
NFM, INC. 11 6.80% $13,314
Equity Prime Mortgage LLC 11 6.70% $11,996
ARK-LA-TEX FINANCIAL SERVICES, LLC. 10 6.74% $10,240
TOWNE MORTGAGE COMPANY 10 6.36% $13,304
Prosperity Home Mortgage, LLC 10 6.53% $10,548
NORWICH COMMERCIAL GROUP, INC. 9 6.61% $11,862
LOANPAL, LLC 9 5.76% $15,293
AMERICAN FINANCIAL RESOURCES, INC. 9 6.10% $9,799
VANDERBILT MORTGAGE AND FINANCE, INC. 9 6.21% $15,032
United Bank 9 6.12% $9,975
RELIANCE FIRST CAPITAL, LLC 9 6.67% $14,174
GSF Mortgage Corporation 8 6.45% $14,157
MORTGAGE EQUITY PARTNERS LLC 8 6.56% $14,255
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 8 6.30% $12,751
DELMAR FINANCIAL COMPANY 8 6.39% $11,880
MID AMERICA MORTGAGE, INC. 8 7.16% $7,214
HOMEBRIDGE FINANCIAL SERVICES, INC. 7 6.39% $13,730
MILEND, INC. 7 6.48% $18,136
SUN WEST MORTGAGE COMPANY, INC. 7 6.75% $14,316
Southern First Bank 7 6.71% $10,371
Northpointe Bank 6 6.06% $11,344
GARDNER FINANCIAL SERVICES, LTD. 6 7.10% $14,642
Plains Commerce Bank 6 6.31% $15,899
First-Citizens Bank & Trust Company 6 6.31% $10,817
TBI MORTGAGE COMPANY 6 5.85% $15,069
LAKEVIEW LOAN SERVICING, LLC 6 5.92% $15,009
The Bank of South Carolina 6 6.31% $9,488
TOP FLITE FINANCIAL, INC. 6 6.77% $14,719
Truist 6 6.43% $11,385
United Community Bank 6 6.63% $11,777
CHURCHILL MORTGAGE CORPORATION 6 6.13% $12,031
SeaTrust Mortgage Company 5 7.20% $11,512
HOMESIDE FINANCIAL, LLC 5 6.38% $11,160
MICHIGAN MUTUAL, INC. 5 5.23% $18,136
Fifth Third Bank 5 6.43% $11,147
TD Bank 5 6.40% $8,391
Mortgage Research Center, LLC 5 6.48% $8,639
EQUITY RESOURCES, INC. 4 6.28% $10,103
ABSOLUTE HOME MORTGAGE CORPORATION 4 6.88% $21,144
AMERICAN FINANCIAL NETWORK, INC. 4 7.41% $14,883
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 4 6.34% $13,965
M&T Bank 4 6.59% $10,458
NATIONS DIRECT MORTGAGE, LLC 4 6.72% $10,802
SENTE MORTGAGE, INC. 4 6.50% $16,463
UNION HOME MORTGAGE CORP. 4 6.16% $13,282
VILLAGE CAPITAL MORTGAGE 4 6.63% $10,243
NBKC BANK 3 5.71% $9,360
CITY FIRST MORTGAGE SERVICES, L.L.C. 3 7.33% $11,198
Paramount Residential Mortgage Group, Inc. 3 7.33% $14,370
Century Mortgage Company DBA Century Lending Company 3 6.33% $18,413
Lakeview Community Capital, LLC 3 6.61% $12,538
JPMorgan Chase Bank 3 7.21% $8,255
ZILLOW HOME LOANS, LLC 3 6.04% $12,873
THRIVE MORTGAGE, LLC 3 6.21% $11,877
TJC Mortgage, Inc. 3 6.83% $11,876
Towne Bank 3 6.08% $13,840
AMERICAN FINANCING CORPORATION 3 6.50% $14,846
FIRST COMMUNITY MORTGAGE, INC. 3 7.33% $12,070
ACADEMY MORTGAGE CORPORATION 2 6.69% $16,733
EMBRACE HOME LOANS, INC. 2 5.62% $12,279
BAY EQUITY LLC 2 6.50% $19,281
Residential Mortgage Solutions, Inc. 2 6.94% $17,963
CORNERSTONE HOME LENDING, INC. 2 5.12% $11,198
RESOURCE FINANCIAL SERVICES, INC. 2 6.63% $9,182
RUOFF MORTGAGE COMPANY, INC. 2 6.19% $10,150
AmeriHome Mortgage Company, LLC 2 6.88% $11,973
JMAC LENDING, INC. 2 5.56% $15,933
American Security Mortgage Corp. 2 6.00% $14,579
SWBC MORTGAGE CORPORATION 2 7.50% $6,898
FIRST HOME MORTGAGE CORPORATION 2 6.75% $15,095
POLARIS HOME FUNDING CORP. 2 6.44% $12,261
NATIONWIDE MORTGAGE BANKERS, INC. 2 6.43% $12,522
PENTAGON FEDERAL CREDIT UNION 2 5.81% $8,975
ALLIED MORTGAGE GROUP, INC. 2 6.19% $9,689
The Federal Savings Bank 2 5.75% $23,408
Gateway First Bank 2 6.19% $11,610
The Loan Store, Inc. 2 6.81% $18,190
HOMEOWNERS FINANCIAL GROUP USA, LLC 2 7.38% $14,616
The Freedom Bank of Virginia 1 6.25% $13,492
The Union Bank Company 1 6.75% $17,706
TOTAL MORTGAGE SERVICES, LLC 1 6.25% $16,520
Assurance Financial Group, L.L.C. 1 6.12% $17,971
TruHome Solutions, LLC 1 6.13% $9,283
Wells Fargo Bank 1 7.13% $9,959
American Mortgage & Equity Consultants, Inc. 1 7.00% $13,871
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 6.63% $17,910
Vellum Mortgage, Inc. 1 6.63% $8,915
Mortgage Assurance Inc. 1 6.13% $18,210
MLD MORTGAGE INC. 1 6.75% $13,242
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 5.63% $14,722
Magnolia Bank 1 5.75% $12,856
LOANLEADERS OF AMERICA, INC. 1 5.50% $13,798
NETWORK CAPITAL FUNDING CORPORATION 1 5.63% $9,273
Network Funding, L.P. 1 7.13% $7,625
INTERCOASTAL MORTGAGE COMPANY 1 6.50% $11,447
GMFS LLC 1 7.00% $6,365
First Reliance Bank 1 6.25% $7,656
Paramount Bank 1 7.00% $10,463
First Palmetto Bank 1 7.00% $9,774
PHH Mortgage Corporation 1 6.63% $7,140
PIKE CREEK MORTGAGE SERVICES, INC. 1 6.63% $13,850
First National Bank of Pennsylvania 1 6.38% $10,487
PLANET HOME LENDING, LLC 1 6.50% $11,328
PREMIA MORTGAGE, LLC 1 5.99% $19,007
FIRST COLONY MORTGAGE CORPORATION 1 6.75% $11,003
FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.25% $16,977
FBC MORTGAGE, LLC 1 5.75% $11,130
Evolve Bank & Trust 1 6.75% $14,301
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.13% $9,279
1ST SIGNATURE LENDING, LLC 1 6.13% $15,839
ENVOY MORTGAGE, LTD 1 5.75% $10,383
ENCORE BANK 1 6.62% $9,684
EMM LOANS LLC 1 5.50% $13,283
Waterstone Mortgage Corporation 1 6.63% $15,165
ServisFirst Bank 1 6.63% $9,168
Sierra Pacific Mortgage Company, Inc. 1 6.13% $19,016
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.13% $11,117
SUCCESS MORTGAGE PARTNERS, INC. 1 6.13% $9,331
SUMMIT FUNDING, INC. 1 6.75% $15,566
Synovus Bank 1 6.25% $10,810
CBM Mortgage, Inc. 1 5.25% $20,710
BOND STREET MORTGAGE, LLC 1 7.12% $10,748
The Central Trust Bank 1 5.75% $8,597

The top Charleston FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 261 FHA loans originated. Their average total fees are $9,017, which is $3,955 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Charleston FHA lenders (with over 10 loans originated) are Alcova Mortgage LLC ($7,799), PULTE MORTGAGE LLC ($8,672), INTERLINC MORTGAGE SERVICES, LLC ($8,991), DHI MORTGAGE COMPANY, LTD. ($9,017) and Nations Lending Corporation ($10,171).

The lowest rate Charleston FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.30%), VELOCIO MORTGAGE L.L.C. (5.43%), PENNYMAC LOAN SERVICES, LLC (5.79%), Regions Bank (5.80%) and EAGLE HOME MORTGAGE, LLC (5.81%).

Charleston FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
CHARLESTON-NORTH CHARLESTON, SC BERKELEY 2022 $473,800 $606,550 $733,150 $911,150
CHARLESTON-NORTH CHARLESTON, SC CHARLESTON 2022 $473,800 $606,550 $733,150 $911,150
CHARLESTON-NORTH CHARLESTON, SC DORCHESTER 2022 $473,800 $606,550 $733,150 $911,150
CHARLESTON-NORTH CHARLESTON, SC BERKELEY 2023 $538,200 $689,000 $832,850 $1,035,000
CHARLESTON-NORTH CHARLESTON, SC CHARLESTON 2023 $538,200 $689,000 $832,850 $1,035,000
CHARLESTON-NORTH CHARLESTON, SC DORCHESTER 2023 $538,200 $689,000 $832,850 $1,035,000

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Charleston (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 $393,945 (5.2%) $666,998 (3.0%) 1.46 4,315
2018-02-01 $398,615 (3.7%) $671,931 (2.0%) 1.45 4,444
2018-03-01 $400,000 (0.0%) $690,847 (1.9%) 1.40 4,595
2018-04-01 $409,450 (-0.1%) $701,666 (2.9%) 1.39 4,743
2018-05-01 $417,000 (4.0%) $699,033 (2.9%) 1.39 4,819
2018-06-01 $411,760 (3.1%) $699,625 (3.3%) 1.37 4,902
2018-07-01 $409,425 (2.4%) $685,760 (2.2%) 1.37 4,934
2018-08-01 $399,125 (-0.2%) $677,912 (0.8%) 1.34 4,936
2018-09-01 $399,000 (0.7%) $670,709 (0.4%) 1.34 5,020
2018-10-01 $390,000 (-1.4%) $657,703 (-0.4%) 1.32 5,187
2018-11-01 $389,000 (-1.5%) $654,672 (-0.4%) 1.32 5,257
2018-12-01 $385,000 (-2.5%) $648,741 (-2.7%) 1.33 4,969
2019-01-01 $387,835 (-1.6%) $648,218 (-2.8%) 1.34 4,844
2019-02-01 $399,700 (0.3%) $663,664 (-1.2%) 1.35 4,946
2019-03-01 $405,084 (1.3%) $671,896 (-2.7%) 1.32 5,106
2019-04-01 $413,498 (1.0%) $683,903 (-2.5%) 1.31 5,280
2019-05-01 $416,825 (0.0%) $689,921 (-1.3%) 1.30 5,267
2019-06-01 $419,000 (1.8%) $693,830 (-0.8%) 1.31 5,290
2019-07-01 $419,500 (2.5%) $697,059 (1.7%) 1.31 5,193
2019-08-01 $414,273 (3.8%) $691,066 (1.9%) 1.31 5,136
2019-09-01 $405,682 (1.7%) $681,680 (1.6%) 1.30 5,091
2019-10-01 $399,450 (2.4%) $676,288 (2.8%) 1.29 5,042
2019-11-01 $399,000 (2.6%) $681,384 (4.1%) 1.31 4,926
2019-12-01 $398,840 (3.6%) $680,979 (5.0%) 1.33 4,609
2020-01-01 $399,450 (3.0%) $680,465 (5.0%) 1.33 4,309
2020-02-01 $408,637 (2.2%) $694,666 (4.7%) 1.34 4,288
2020-03-01 $424,000 (4.7%) $700,203 (4.2%) 1.33 4,363
2020-04-01 $413,448 (0.0%) $684,621 (0.1%) 1.30 4,448
2020-05-01 $425,000 (2.0%) $702,207 (1.8%) 1.29 4,308
2020-06-01 $429,000 (2.4%) $721,671 (4.0%) 1.26 3,946
2020-07-01 $434,500 (3.6%) $742,908 (6.6%) 1.26 3,608
2020-08-01 $439,500 (6.1%) $766,423 (10.9%) 1.26 3,314
2020-09-01 $444,260 (9.5%) $768,487 (12.7%) 1.27 3,063
2020-10-01 $435,000 (8.9%) $778,325 (15.1%) 1.25 2,930
2020-11-01 $434,500 (8.9%) $789,870 (15.9%) 1.27 2,740
2020-12-01 $439,923 (10.3%) $804,344 (18.1%) 1.31 2,456
2021-01-01 $450,000 (12.7%) $825,770 (21.4%) 1.34 2,039
2021-02-01 $498,000 (21.9%) $883,554 (27.2%) 1.45 1,553
2021-03-01 $496,085 (17.0%) $930,902 (33.0%) 1.41 1,411
2021-04-01 $503,225 (21.7%) $1,027,130 (50.0%) 1.36 1,291
2021-05-01 $531,995 (25.2%) $1,092,470 (55.6%) 1.41 1,216
2021-06-01 $525,000 (22.4%) $1,036,949 (43.7%) 1.38 1,337
2021-07-01 $491,580 (13.1%) $929,946 (25.2%) 1.30 1,593
2021-08-01 $477,450 (8.6%) $890,495 (16.2%) 1.27 1,695
2021-09-01 $454,394 (2.3%) $827,754 (7.7%) 1.21 1,726
2021-10-01 $474,450 (9.1%) $861,184 (10.7%) 1.27 1,572
2021-11-01 $465,755 (7.2%) $867,003 (9.8%) 1.24 1,495
2021-12-01 $467,450 (6.3%) $934,787 (16.2%) 1.27 1,258
2022-01-01 $480,000 (6.7%) $992,618 (20.2%) 1.30 994
2022-02-01 $509,900 (2.4%) $1,090,402 (23.4%) 1.33 817
2022-03-01 $516,238 (4.1%) $1,108,814 (19.1%) 1.29 837
2022-04-01 $530,000 (5.3%) $1,085,844 (5.7%) 1.26 888
2022-05-01 $545,641 (2.6%) $1,053,576 (-3.6%) 1.25 1,170
2022-06-01 $548,125 (4.4%) $1,037,361 (0.0%) 1.22 1,584
2022-07-01 $524,400 (6.7%) $971,783 (4.5%) 1.18 2,015
2022-08-01 $506,733 (6.1%) $927,207 (4.1%) 1.17 2,193
2022-09-01 $500,000 (10.0%) $916,843 (10.8%) 1.17 2,236
2022-10-01 $489,900 (3.3%) $899,714 (4.5%) 1.15 2,446
2022-11-01 $484,973 (4.1%) $893,244 (3.0%) 1.17 2,551
2022-12-01 $479,900 (2.7%) $907,505 (-2.9%) 1.18 2,405
2023-01-01 $479,901 (0.0%) $911,593 (-8.2%) 1.19 2,154
2023-02-01 $497,450 (-2.4%) $985,984 (-9.6%) 1.20 1,950
2023-03-01 $516,672 (0.1%) $1,012,478 (-8.7%) 1.22 1,887
2023-04-01 $538,995 (1.7%) $1,021,015 (-6.0%) 1.25 1,853
2023-05-01 $557,056 (2.1%) $1,073,160 (1.9%) 1.26 1,768
2023-06-01 $554,917 (1.2%) $1,075,972 (3.7%) 1.25 1,910
2023-07-01 $550,000 (4.9%) $1,043,550 (7.4%) 1.25 1,952
2023-08-01 $531,993 (5.0%) $1,006,706 (8.6%) 1.22 2,074
2023-09-01 $525,000 (5.0%) $1,009,585 (10.1%) 1.22 2,318
2023-10-01 $538,248 (9.9%) $1,031,863 (14.7%) 1.27 2,429
2023-11-01 $519,000 (7.0%) $1,000,884 (12.1%) 1.24 2,559
2023-12-01 $500,000 (4.2%) $989,082 (9.0%) 1.22 2,442
2024-01-01 $499,000 (4.0%) $991,096 (8.7%) 1.22 2,242
2024-02-01 $494,500 (-0.6%) $988,382 (0.2%) 1.19 2,253
2024-03-01 $508,990 (-1.5%) $1,010,147 (-0.2%) 1.20 2,358
2024-04-01 $524,038 (-2.8%) $1,037,919 (1.7%) 1.22 2,489
2024-05-01 $529,945 (-4.9%) $1,078,964 (0.5%) 1.20 2,714
2024-06-01 $529,000 (-4.7%) $1,073,252 (-0.3%) 1.19 2,859
Charleston's median listing price for 2024-06-01 was $529,000, a difference of $-25,917 (-4.7%) versus the prior year and $-945 versus the prior month.

Charleston's median listing price comes in at 119% of the national average.

Charleston's average listing price for 2024-06-01 was $1,073,252, a difference of $-2,720 (-0.3%) versus the prior year and $-5,712 versus the prior month.

For the 2024-06-01 period, Charleston had 2,859 MLS listings, a difference of 145 listings (5%) versus the prior month and 949 listings (50%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Charleston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 91 days 2,277 sqft
2018-02-01 82 days 2,295 sqft
2018-03-01 56 days 2,300 sqft
2018-04-01 58 days 2,312 sqft
2018-05-01 59 days 2,309 sqft
2018-06-01 60 days 2,302 sqft
2018-07-01 64 days 2,283 sqft
2018-08-01 67 days 2,245 sqft
2018-09-01 73 days 2,207 sqft
2018-10-01 72 days 2,176 sqft
2018-11-01 75 days 2,144 sqft
2018-12-01 78 days 2,135 sqft
2019-01-01 86 days 2,136 sqft
2019-02-01 77 days 2,159 sqft
2019-03-01 65 days 2,178 sqft
2019-04-01 58 days 2,210 sqft
2019-05-01 61 days 2,226 sqft
2019-06-01 63 days 2,217 sqft
2019-07-01 66 days 2,218 sqft
2019-08-01 70 days 2,202 sqft
2019-09-01 72 days 2,189 sqft
2019-10-01 74 days 2,180 sqft
2019-11-01 74 days 2,148 sqft
2019-12-01 80 days 2,140 sqft
2020-01-01 86 days 2,139 sqft
2020-02-01 74 days 2,148 sqft
2020-03-01 54 days 2,176 sqft
2020-04-01 59 days 2,183 sqft
2020-05-01 69 days 2,226 sqft
2020-06-01 65 days 2,237 sqft
2020-07-01 59 days 2,233 sqft
2020-08-01 54 days 2,215 sqft
2020-09-01 53 days 2,200 sqft
2020-10-01 52 days 2,174 sqft
2020-11-01 53 days 2,134 sqft
2020-12-01 60 days 2,137 sqft
2021-01-01 66 days 2,148 sqft
2021-02-01 46 days 2,104 sqft
2021-03-01 36 days 2,126 sqft
2021-04-01 33 days 2,172 sqft
2021-05-01 29 days 2,170 sqft
2021-06-01 23 days 2,148 sqft
2021-07-01 24 days 2,170 sqft
2021-08-01 30 days 2,116 sqft
2021-09-01 31 days 2,104 sqft
2021-10-01 37 days 2,090 sqft
2021-11-01 37 days 2,092 sqft
2021-12-01 44 days 2,094 sqft
2022-01-01 53 days 2,148 sqft
2022-02-01 22 days 2,165 sqft
2022-03-01 16 days 2,172 sqft
2022-04-01 16 days 2,166 sqft
2022-05-01 15 days 2,211 sqft
2022-06-01 21 days 2,214 sqft
2022-07-01 28 days 2,221 sqft
2022-08-01 36 days 2,218 sqft
2022-09-01 43 days 2,206 sqft
2022-10-01 45 days 2,185 sqft
2022-11-01 47 days 2,175 sqft
2022-12-01 58 days 2,163 sqft
2023-01-01 69 days 2,188 sqft
2023-02-01 60 days 2,208 sqft
2023-03-01 44 days 2,222 sqft
2023-04-01 38 days 2,244 sqft
2023-05-01 40 days 2,260 sqft
2023-06-01 37 days 2,297 sqft
2023-07-01 39 days 2,263 sqft
2023-08-01 43 days 2,193 sqft
2023-09-01 42 days 2,164 sqft
2023-10-01 45 days 2,151 sqft
2023-11-01 45 days 2,106 sqft
2023-12-01 57 days 2,100 sqft
2024-01-01 65 days 2,100 sqft
2024-02-01 48 days 2,100 sqft
2024-03-01 39 days 2,106 sqft
2024-04-01 39 days 2,117 sqft
2024-05-01 37 days 2,149 sqft
2024-06-01 43 days 2,184 sqft
Charleston's median listing age (time on market) for 2024-06-01 was 43 days. This is 18% longer than the same period one year ago.

Charleston's median square footage for active listings during the 2024-06-01 period was 2,184 sqft. One year prior, the average listing was 2,297 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).