Charlotte FHA Loan Rates, Closing Costs & Stats

CHARLOTTE-CONCORD-GASTONIA, NC-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.

Charlotte's 252 lenders originated 8,575 FHA loans during 2023. The total origination value was $2,599,665,000, with an average FHA loan value of $303,168.

Charlotte FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Charlotte averaged 6.56% for the week of 2024-05-17, compared to the national average (all FHA variants) of 6.744% for the same period.

Charlotte's average FHA mortgage closing costs are $8,244.

The average rate for the prior week (2024-05-10) was 6.6% and one month ago for the week of 2024-04-12, the average rate was 6.56%.

The average rate one year ago was 6.41%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.89%.

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

Charlotte 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 Charlotte level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 878 6.17% $12,232
UNITED WHOLESALE MORTGAGE, LLC 639 6.24% $13,045
MOVEMENT MORTGAGE, LLC 599 6.61% $12,699
LOANDEPOT.COM, LLC 519 6.09% $12,193
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 306 6.66% $11,657
NVR Mortgage Finance, Inc. 285 5.73% $12,504
DHI MORTGAGE COMPANY, LTD. 271 5.48% $6,815
CROSSCOUNTRY MORTGAGE, LLC 234 6.68% $12,963
American Security Mortgage Corp. 205 6.41% $10,894
MATTAMY HOME FUNDING, LLC 167 5.60% $12,099
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 165 6.59% $13,218
FREEDOM MORTGAGE CORPORATION 130 6.74% $14,255
BROKER SOLUTIONS, INC. 122 6.39% $12,670
PENNYMAC LOAN SERVICES, LLC 117 6.05% $14,117
CARDINAL FINANCIAL 110 6.37% $12,095
INSPIRE HOME LOANS INC. 99 5.66% $10,608
EAGLE HOME MORTGAGE, LLC 96 6.18% $11,027
First Federal Bank 95 6.23% $7,959
SeaTrust Mortgage Company 78 6.38% $14,275
GUILD MORTGAGE COMPANY 74 6.53% $13,127
Mr. Cooper ( Nationstar Mortgage ) 73 6.02% $16,929
NEWREZ LLC 69 6.29% $12,006
Northpointe Bank 63 6.35% $11,466
Truist 63 6.12% $12,792
AMERISAVE MORTGAGE CORPORATION 63 6.14% $14,509
M/I FINANCIAL, LLC 56 6.03% $14,984
Carrington Mortgage Services, LLC 51 6.28% $12,018
RAPID MORTGAGE COMPANY 49 6.63% $13,101
MUTUAL OF OMAHA MORTGAGE, INC. 48 6.63% $15,044
CORNERSTONE HOME LENDING, INC. 46 6.36% $12,743
CMG MORTGAGE, INC. 45 6.73% $11,620
ACADEMY MORTGAGE CORPORATION 43 6.76% $11,367
LAKEVIEW LOAN SERVICING, LLC 39 6.09% $13,201
Atlantic Coast Mortgage, LLC 38 6.38% $12,241
Uwharrie Bank 38 6.55% $11,760
RELIANCE FIRST CAPITAL, LLC 38 6.61% $12,148
AMERICAN PACIFIC MORTGAGE CORPORATION 37 6.53% $12,953
TOP FLITE FINANCIAL, INC. 36 6.88% $14,195
Equity Prime Mortgage LLC 36 6.85% $13,740
PRIMELENDING, A PLAINSCAPITAL COMPANY 35 6.68% $13,917
PRIMARY RESIDENTIAL MORTGAGE, INC. 35 6.55% $15,003
Plains Commerce Bank 31 6.39% $11,610
TJC Mortgage, Inc. 31 6.74% $13,183
Towne Bank 31 6.30% $13,864
Flagstar Bank, FSB 30 6.23% $11,883
GUARANTEED RATE AFFINITY, LLC 30 6.79% $11,597
MID AMERICA MORTGAGE, INC. 30 7.08% $14,280
PULTE MORTGAGE LLC 29 6.09% $9,299
ON Q FINANCIAL, INC. 29 6.75% $11,127
NFM, INC. 28 6.86% $12,361
Alcova Mortgage LLC 28 6.97% $10,972
THRIVE MORTGAGE, LLC 27 6.79% $14,694
U.S. Bank 27 6.22% $10,431
LEGEND LENDING CORPORATION 27 6.95% $16,739
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 27 6.85% $11,651
LOANPAL, LLC 26 5.79% $13,719
First-Citizens Bank & Trust Company 26 5.93% $9,979
AMERICAN FINANCIAL NETWORK, INC. 25 7.14% $16,173
HOMEBRIDGE FINANCIAL SERVICES, INC. 24 6.19% $13,460
PREMIER LENDING, INC. 24 6.78% $14,203
Ameris Bank 23 6.54% $12,818
SUN WEST MORTGAGE COMPANY, INC. 23 6.33% $12,780
Fifth Third Bank 23 6.41% $7,418
Paramount Residential Mortgage Group, Inc. 22 6.71% $12,713
ZILLOW HOME LOANS, LLC 22 6.32% $11,932
CALCON MUTUAL MORTGAGE LLC 22 6.59% $15,462
GUARANTEED RATE, INC. 22 6.44% $12,734
JET HOMELOANS, LLC 21 6.07% $13,372
T2 FINANCIAL LLC 20 6.63% $13,377
PLANET HOME LENDING, LLC 20 6.38% $11,504
HOMESTAR FINANCIAL CORPORATION 19 6.69% $10,515
Regions Bank 19 5.88% $11,705
MICHIGAN MUTUAL, INC. 19 5.53% $13,938
FBC MORTGAGE, LLC 19 5.74% $16,167
Prosperity Home Mortgage, LLC 19 6.25% $12,714
INTERCOASTAL MORTGAGE COMPANY 19 6.45% $9,987
UNION HOME MORTGAGE CORP. 19 6.61% $11,386
MILEND, INC. 19 6.63% $15,818
AMERICAN FINANCIAL RESOURCES, INC. 17 5.98% $15,553
VILLAGE CAPITAL MORTGAGE 17 5.91% $12,880
PLAZA HOME MORTGAGE, INC. 16 6.36% $14,294
The Federal Savings Bank 16 6.24% $16,651
Lakeview Community Capital, LLC 16 6.19% $12,915
Mortgage Research Center, LLC 16 6.79% $9,381
HOMESIDE FINANCIAL, LLC 16 6.34% $13,446
Blue Ridge Bank 15 6.81% $9,564
HOWARD HANNA FINANCIAL SERVICES, INC. 15 7.11% $10,996
Wells Fargo Bank 14 6.38% $10,725
JPMorgan Chase Bank 14 6.24% $10,144
Truliant Federal Credit Union 13 5.92% $11,963
South State Bank 13 6.38% $10,561
Renasant Bank 13 6.49% $11,190
BAY EQUITY LLC 13 6.35% $13,565
South Pacific Financial Corporation 13 6.20% $12,089
GENEVA FINANCIAL, LLC 12 6.50% $12,569
Nations Lending Corporation 12 6.76% $11,719
NBKC BANK 12 5.83% $10,674
EMM LOANS LLC 11 6.09% $14,200
Gateway First Bank 11 6.74% $9,437
EVERETT FINANCIAL, INC. 10 6.70% $12,312
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 10 6.34% $10,894
VERITAS FUNDING, LLC 10 6.86% $19,368
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 10 6.46% $15,002
SECURITYNATIONAL MORTGAGE COMPANY 9 6.99% $12,008
AMERICAN FINANCING CORPORATION 9 6.69% $12,439
Century Mortgage Company DBA Century Lending Company 9 6.26% $12,671
POLARIS HOME FUNDING CORP. 9 6.72% $12,003
First Heritage Mortgage, LLC 9 6.25% $16,195
Bank of America 9 6.71% $8,859
PHH Mortgage Corporation 9 6.43% $10,644
LADERA LENDING, INC. 9 6.49% $13,459
United Community Bank 8 6.11% $11,825
VANDERBILT MORTGAGE AND FINANCE, INC. 8 6.59% $12,970
ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 6.29% $13,717
CAPITAL CENTER, L.L.C. 7 6.25% $9,994
LIBERTY HOME MORTGAGE CORPORATION 7 6.73% $17,131
CASTLE & COOKE MORTGAGE, LLC 7 6.71% $13,056
BETTER MORTGAGE CORPORATION 7 6.13% $12,057
ALLIED MORTGAGE GROUP, INC. 7 6.59% $15,569
Victorian Finance, LLC 7 6.86% $12,536
NATIONS DIRECT MORTGAGE, LLC 6 6.35% $11,958
TOWNE MORTGAGE COMPANY 6 6.67% $11,479
PENTAGON FEDERAL CREDIT UNION 6 5.77% $10,777
Barrington Bank & Trust Company, N.A. 6 6.38% $11,033
GoPrime Mortgage, Inc. 6 6.71% $13,846
OPEN MORTGAGE, LLC 6 7.35% $15,726
Shamrock Home Loans, Inc. 5 6.48% $15,960
Citizens Bank 5 6.45% $11,403
CONTOUR MORTGAGE CORPORATION 5 6.73% $16,861
FIRST ALLIANCE HOME MORTGAGE, LLC 5 6.80% $15,935
First National Bank of Pennsylvania 5 5.93% $10,950
Capital Bank 5 6.48% $15,904
ROYAL UNITED MORTGAGE LLC 5 7.08% $11,762
HOMEOWNERS FINANCIAL GROUP USA, LLC 5 6.33% $12,217
AmeriHome Mortgage Company, LLC 5 6.32% $14,209
American Mortgage & Equity Consultants, Inc. 5 6.50% $12,812
PNC Bank 5 6.58% $8,641
MIDLAND MORTGAGE CORPORATION 5 6.53% $11,201
MORTGAGE SOLUTIONS OF COLORADO, LLC 5 6.70% $14,074
OCMBC, INC. 5 7.65% $14,685
Pinnacle Bank 5 5.85% $10,675
KBHS HOME LOANS, LLC 4 7.12% $16,465
C & F Mortgage Corporation 4 6.56% $8,871
NETWORK CAPITAL FUNDING CORPORATION 4 6.03% $12,234
INTERLINC MORTGAGE SERVICES, LLC 4 7.44% $9,589
GSF Mortgage Corporation 4 6.53% $10,272
SUMMIT FUNDING, INC. 4 6.65% $15,999
LOANLEADERS OF AMERICA, INC. 4 5.97% $16,155
Bank of England 4 6.81% $13,698
United Bank 4 6.66% $10,846
1ST SIGNATURE LENDING, LLC 3 6.96% $14,728
Allen Tate Mortgage Partners, LLC 3 7.04% $8,517
BAYSHORE MORTGAGE FUNDING, LLC 3 7.46% $18,169
CHERRY CREEK MORTGAGE, LLC 3 6.46% $2,805
CHURCHILL MORTGAGE CORPORATION 3 6.54% $14,205
Cornerstone First Mortgage, Inc 3 6.04% $19,439
DIRECT MORTGAGE LOANS, LLC 3 5.96% $11,678
EMBRACE HOME LOANS, INC. 3 6.29% $11,638
LAND HOME FINANCIAL SERVICES, INC. 3 7.00% $16,879
NORWICH COMMERCIAL GROUP, INC. 3 7.00% $17,945
RUOFF MORTGAGE COMPANY, INC. 3 6.00% $6,224
SWBC MORTGAGE CORPORATION 3 6.58% $8,374
TD Bank 3 6.54% $10,091
VAN DYK MORTGAGE CORPORATION 3 6.46% $6,840
TBI MORTGAGE COMPANY 2 5.93% $20,973
GARDNER FINANCIAL SERVICES, LTD. 2 6.56% $21,526
ENVOY MORTGAGE, LTD 2 6.31% $11,145
INTERNATIONAL CITY MORTGAGE, INC. 2 5.81% $11,676
PREMIA MORTGAGE, LLC 2 5.69% $9,116
Magnolia Bank 2 5.94% $13,241
DELMAR FINANCIAL COMPANY 2 6.62% $10,676
CREDIT UNION MORTGAGE ASSOCIATION, INC. 2 6.25% $8,604
TOTAL MORTGAGE SERVICES, LLC 2 7.06% $11,118
MORTGAGE INVESTORS GROUP, INC. 2 6.50% $11,594
Southern First Bank 2 6.13% $15,701
CityWorth Mortgage LLC 2 5.94% $17,770
CITY FIRST MORTGAGE SERVICES, L.L.C. 2 7.63% $9,337
CALIBER HOME LOANS, INC. 2 6.00% $10,689
BNC National Bank 2 5.44% $10,434
Mortgage Assurance Inc. 2 6.44% $9,949
SOUTHPOINT FINANCIAL SERVICES, INC. 2 6.13% $9,856
First Horizon Bank 2 6.13% $12,987
RESIDENTIAL HOME FUNDING CORP. 2 6.88% $9,815
BECKAM FUNDING CORP. 2 7.38% $10,963
Residential Mortgage Solutions, Inc. 2 6.69% $13,165
STOCKTON MORTGAGE CORPORATION 2 7.13% $16,153
RESOURCE FINANCIAL SERVICES, INC. 2 6.19% $12,736
NATIONWIDE MORTGAGE BANKERS, INC. 2 7.63% $15,654
ABSOLUTE HOME MORTGAGE CORPORATION 2 7.13% $18,057
JMAC LENDING, INC. 2 6.81% $15,196
AMCAP MORTGAGE, LTD. 2 6.62% $21,505
NEW DAY FINANCIAL, LLC 2 7.75% $8,676
M&T Bank 2 6.63% $9,339
ACOPIA, LLC 2 7.50% $14,019
NP, Inc. 2 6.06% $9,298
MDE Home Loans, LLC 2 6.19% $11,221
North American Savings Bank, F.S.B. 2 5.69% $13,608
FIRST HOME MORTGAGE CORPORATION 1 6.63% $14,108
First Community Bank 1 6.63% $10,907
Wolfe Financial, Inc 1 5.75% $15,088
Evolve Bank & Trust 1 6.75% $10,015
Wyndham Capital Mortgage, Inc. 1 5.75% $11,429
The Fidelity Bank 1 7.63% $10,657
The Huntington National Bank 1 6.13% $15,347
East Coast Capital Corp. 1 6.50% $7,602
Commerce Home Mortgage, Inc. 1 6.88% $10,668
CLIFFCO, INC. 1 6.50% $14,135
BM Real Estate Services, Inc. 1 7.25% $7,295
United Fidelity Funding Corp. 1 6.75% $19,687
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 6.13% $13,191
UNITED SECURITY FINANCIAL CORP 1 7.38% $20,356
AXIA FINANCIAL, LLC 1 6.99% $15,565
NEXERA HOLDING LLC 1 5.50% $8,312
Atlantic Union Bank 1 6.63% $12,904
Armed Forces Bank 1 5.75% $14,359
AMERICAN BANCSHARES MORTGAGE 1 6.88% $12,980
Advisors Mortgage Group, L.L.C. 1 6.00% $15,451
NORTHERN MORTGAGE SERVICES, LLC 1 7.00% $6,821
NTFN, INC. 1 6.25% $11,034
US MORTGAGE CORPORATION 1 6.75% $19,991
NexBank 1 6.00% $14,624
PANORAMA MORTGAGE GROUP, LLC 1 5.63% $16,014
Network Funding, L.P. 1 7.25% $15,407
Neighborhood Loans, Inc. 1 5.99% $18,561
NATION ONE MORTGAGE CORPORATION 1 6.75% $14,347
Platinum Home Mortgage Corporation 1 6.75% $17,797
Meridian Bank Corporation 1 6.75% $10,298
MEMBER FIRST MORTGAGE, LLC 1 6.63% $17,659
PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.25% $5,193
Preston Home Loans Inc 1 6.50% $16,248
LEADERONE FINANCIAL CORPORATION 1 6.13% $17,743
Princeton Mortgage Corporation 1 5.63% $22,913
JET DIRECT FUNDING CORP 1 6.75% $19,963
Ixonia Bank 1 7.75% $20,195
Integrity Home Mortgage Corp 1 7.25% $9,845
HOMEXPRESS MORTGAGE CORP. 1 7.75% $13,321
Hometown Equity Mortgage, LLC 1 6.50% $12,550
HARTFORD FUNDING, LTD. 1 6.38% $18,799
ROSS MORTGAGE CORPORATION 1 7.50% $9,425
George Mason Mortgage, LLC 1 5.63% $9,868
Willamette Valley Bank 1 6.75% $13,188
Sandy Spring Bank 1 5.88% $9,544
GEO-CORP, INC. 1 7.13% $11,970
ServisFirst Bank 1 5.25% $12,402
First Savings Bank 1 5.75% $23,118
SIRVA MORTGAGE, INC. 1 6.13% $6,921
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 7.63% $12,534
First Option Mortgage, LLC 1 5.75% $6,496
SOUTHWEST STAGE FUNDING, LLC 1 6.88% $12,691
SOVEREIGN LENDING GROUP INCORPORATED 1 7.00% $11,195
Strong Home Mortgage, LLC 1 5.63% $10,764
SUCCESS MORTGAGE PARTNERS, INC. 1 7.25% $20,957

The top Charlotte FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 878 FHA loans originated. Their average total fees are $12,232, which is $813 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Charlotte FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($6,815), Fifth Third Bank ($7,418), First Federal Bank ($7,959), PULTE MORTGAGE LLC ($9,299) and Mortgage Research Center, LLC ($9,381).

The lowest rate Charlotte FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.48%), MICHIGAN MUTUAL, INC. (5.53%), MATTAMY HOME FUNDING, LLC (5.60%), INSPIRE HOME LOANS INC. (5.66%) and NVR Mortgage Finance, Inc. (5.73%).

Charlotte FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
CHARLOTTE-CONCORD-GASTONIA, NC-SC ANSON 2022 $420,680 $538,650 $651,050 $809,150
CHARLOTTE-CONCORD-GASTONIA, NC-SC CABARRUS 2022 $420,680 $538,650 $651,050 $809,150
CHARLOTTE-CONCORD-GASTONIA, NC-SC GASTON 2022 $420,680 $538,650 $651,050 $809,150
CHARLOTTE-CONCORD-GASTONIA, NC-SC IREDELL 2022 $420,680 $538,650 $651,050 $809,150
CHARLOTTE-CONCORD-GASTONIA, NC-SC LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
CHARLOTTE-CONCORD-GASTONIA, NC-SC MECKLENBURG 2022 $420,680 $538,650 $651,050 $809,150
CHARLOTTE-CONCORD-GASTONIA, NC-SC ROWAN 2022 $420,680 $538,650 $651,050 $809,150
CHARLOTTE-CONCORD-GASTONIA, NC-SC UNION 2022 $420,680 $538,650 $651,050 $809,150
CHARLOTTE-CONCORD-GASTONIA, NC-SC CHESTER 2022 $420,680 $538,650 $651,050 $809,150
CHARLOTTE-CONCORD-GASTONIA, NC-SC LANCASTER 2022 $420,680 $538,650 $651,050 $809,150
CHARLOTTE-CONCORD-GASTONIA, NC-SC YORK 2022 $420,680 $538,650 $651,050 $809,150
CHARLOTTE-CONCORD-GASTONIA, NC-SC ANSON 2023 $472,030 $604,400 $730,525 $907,900
CHARLOTTE-CONCORD-GASTONIA, NC-SC CABARRUS 2023 $472,030 $604,400 $730,525 $907,900
CHARLOTTE-CONCORD-GASTONIA, NC-SC GASTON 2023 $472,030 $604,400 $730,525 $907,900
CHARLOTTE-CONCORD-GASTONIA, NC-SC IREDELL 2023 $472,030 $604,400 $730,525 $907,900
CHARLOTTE-CONCORD-GASTONIA, NC-SC LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
CHARLOTTE-CONCORD-GASTONIA, NC-SC MECKLENBURG 2023 $472,030 $604,400 $730,525 $907,900
CHARLOTTE-CONCORD-GASTONIA, NC-SC ROWAN 2023 $472,030 $604,400 $730,525 $907,900
CHARLOTTE-CONCORD-GASTONIA, NC-SC UNION 2023 $472,030 $604,400 $730,525 $907,900
CHARLOTTE-CONCORD-GASTONIA, NC-SC CHESTER 2023 $472,030 $604,400 $730,525 $907,900
CHARLOTTE-CONCORD-GASTONIA, NC-SC LANCASTER 2023 $472,030 $604,400 $730,525 $907,900
CHARLOTTE-CONCORD-GASTONIA, NC-SC YORK 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Charlotte (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 $337,402 (8.9%) $436,934 (7.7%) 1.25 6,854
2018-02-01 $338,500 (6.5%) $442,760 (6.0%) 1.23 6,890
2018-03-01 $349,000 (5.8%) $452,256 (4.6%) 1.22 7,189
2018-04-01 $352,916 (3.8%) $463,121 (4.3%) 1.20 7,505
2018-05-01 $354,719 (2.2%) $468,323 (3.4%) 1.18 7,951
2018-06-01 $352,758 (1.3%) $464,301 (1.8%) 1.18 8,425
2018-07-01 $347,000 (0.6%) $453,480 (0.7%) 1.16 8,769
2018-08-01 $340,000 (0.2%) $445,833 (1.1%) 1.14 8,908
2018-09-01 $339,900 (0.7%) $443,535 (1.2%) 1.14 8,965
2018-10-01 $333,975 (-1.2%) $436,164 (-0.7%) 1.13 9,032
2018-11-01 $329,950 (-0.9%) $432,745 (-0.3%) 1.12 8,853
2018-12-01 $325,000 (-2.0%) $428,688 (-0.6%) 1.12 8,317
2019-01-01 $325,000 (-3.7%) $429,118 (-1.8%) 1.12 7,890
2019-02-01 $329,900 (-2.5%) $439,798 (-0.7%) 1.11 7,891
2019-03-01 $341,329 (-2.2%) $461,575 (2.1%) 1.12 7,939
2019-04-01 $349,950 (-0.8%) $474,915 (2.6%) 1.11 8,122
2019-05-01 $355,750 (0.3%) $478,421 (2.2%) 1.11 8,347
2019-06-01 $358,500 (1.6%) $477,847 (2.9%) 1.12 8,499
2019-07-01 $349,950 (0.9%) $457,689 (0.9%) 1.10 8,511
2019-08-01 $345,109 (1.5%) $455,218 (2.1%) 1.09 8,487
2019-09-01 $339,423 (-0.1%) $457,231 (3.1%) 1.09 8,399
2019-10-01 $335,632 (0.5%) $449,668 (3.1%) 1.08 8,304
2019-11-01 $334,750 (1.5%) $435,540 (0.7%) 1.10 7,812
2019-12-01 $335,882 (3.4%) $436,961 (1.9%) 1.12 6,995
2020-01-01 $336,675 (3.6%) $443,443 (3.3%) 1.13 6,361
2020-02-01 $340,888 (3.3%) $460,397 (4.7%) 1.12 5,749
2020-03-01 $349,950 (2.5%) $477,868 (3.5%) 1.10 5,975
2020-04-01 $340,320 (-2.8%) $459,662 (-3.2%) 1.07 6,500
2020-05-01 $352,938 (-0.8%) $484,739 (1.3%) 1.07 6,263
2020-06-01 $367,405 (2.5%) $509,202 (6.6%) 1.08 5,332
2020-07-01 $369,450 (5.6%) $513,307 (12.2%) 1.07 4,730
2020-08-01 $369,900 (7.2%) $515,953 (13.3%) 1.06 4,557
2020-09-01 $373,591 (10.1%) $520,568 (13.9%) 1.07 4,440
2020-10-01 $368,732 (9.9%) $516,090 (14.8%) 1.06 4,332
2020-11-01 $374,950 (12.0%) $519,927 (19.4%) 1.10 4,040
2020-12-01 $372,061 (10.8%) $513,364 (17.5%) 1.11 3,530
2021-01-01 $367,391 (9.1%) $508,532 (14.7%) 1.10 3,034
2021-02-01 $362,500 (6.3%) $511,201 (11.0%) 1.06 2,639
2021-03-01 $375,070 (7.2%) $545,201 (14.1%) 1.06 2,329
2021-04-01 $385,000 (13.1%) $554,098 (20.5%) 1.04 2,311
2021-05-01 $389,000 (10.2%) $550,233 (13.5%) 1.03 2,456
2021-06-01 $388,750 (5.8%) $541,814 (6.4%) 1.02 2,783
2021-07-01 $385,975 (4.5%) $527,944 (2.9%) 1.02 3,060
2021-08-01 $388,250 (5.0%) $516,997 (0.2%) 1.04 3,242
2021-09-01 $389,215 (4.2%) $524,313 (0.7%) 1.04 3,269
2021-10-01 $398,430 (8.1%) $525,286 (1.8%) 1.06 3,215
2021-11-01 $399,000 (6.4%) $521,379 (0.3%) 1.07 3,032
2021-12-01 $392,000 (5.4%) $519,938 (1.3%) 1.06 2,550
2022-01-01 $399,000 (8.6%) $529,046 (4.0%) 1.08 2,098
2022-02-01 $397,750 (9.7%) $550,199 (7.6%) 1.03 1,800
2022-03-01 $403,994 (7.7%) $559,287 (2.6%) 1.01 1,895
2022-04-01 $415,000 (7.8%) $582,445 (5.1%) 0.99 2,134
2022-05-01 $432,245 (11.1%) $596,914 (8.5%) 0.99 2,880
2022-06-01 $445,383 (14.6%) $597,206 (10.2%) 0.99 3,649
2022-07-01 $432,000 (11.9%) $578,299 (9.5%) 0.97 4,965
2022-08-01 $425,000 (9.5%) $567,894 (9.8%) 0.98 5,333
2022-09-01 $420,500 (8.0%) $567,737 (8.3%) 0.98 5,389
2022-10-01 $415,000 (4.2%) $552,120 (5.1%) 0.98 5,668
2022-11-01 $403,900 (1.2%) $540,222 (3.6%) 0.97 5,924
2022-12-01 $396,590 (1.2%) $528,046 (1.6%) 0.98 5,428
2023-01-01 $395,000 (-1.0%) $528,802 (-0.1%) 0.98 4,914
2023-02-01 $397,227 (-0.1%) $540,298 (-1.8%) 0.96 4,367
2023-03-01 $401,784 (-0.6%) $556,878 (-0.4%) 0.95 4,088
2023-04-01 $425,000 (2.4%) $590,203 (1.3%) 0.99 4,010
2023-05-01 $434,881 (0.6%) $624,514 (4.6%) 0.99 3,964
2023-06-01 $440,975 (-1.0%) $642,110 (7.5%) 0.99 4,109
2023-07-01 $439,900 (1.8%) $635,874 (10.0%) 1.00 4,234
2023-08-01 $429,736 (1.1%) $620,073 (9.2%) 0.99 4,400
2023-09-01 $425,000 (1.1%) $618,600 (9.0%) 0.99 4,629
2023-10-01 $420,948 (1.4%) $601,721 (9.0%) 0.99 5,106
2023-11-01 $414,945 (2.7%) $587,807 (8.8%) 0.99 5,285
2023-12-01 $400,000 (0.9%) $572,924 (8.5%) 0.98 5,014
2024-01-01 $400,000 (1.3%) $575,941 (8.9%) 0.98 4,626
2024-02-01 $400,000 (0.7%) $590,355 (9.3%) 0.96 4,571
2024-03-01 $410,104 (2.1%) $596,803 (7.2%) 0.97 4,902
2024-04-01 $422,450 (-0.6%) $623,412 (5.6%) 0.98 5,289
Charlotte's median listing price for 2024-04-01 was $422,450, a difference of $-2,550 (-0.6%) versus the prior year and $12,346 versus the prior month.

Charlotte's median listing price comes in at 98% of the national average.

Charlotte's average listing price for 2024-04-01 was $623,412, a difference of $33,209 (5.6%) versus the prior year and $26,609 versus the prior month.

For the 2024-04-01 period, Charlotte had 5,289 MLS listings, a difference of 387 listings (8%) versus the prior month and 1,279 listings (32%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Charlotte (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 79 days 2,580 sqft
2018-02-01 69 days 2,556 sqft
2018-03-01 46 days 2,622 sqft
2018-04-01 45 days 2,639 sqft
2018-05-01 45 days 2,651 sqft
2018-06-01 46 days 2,650 sqft
2018-07-01 50 days 2,602 sqft
2018-08-01 51 days 2,560 sqft
2018-09-01 56 days 2,540 sqft
2018-10-01 59 days 2,500 sqft
2018-11-01 59 days 2,468 sqft
2018-12-01 65 days 2,432 sqft
2019-01-01 72 days 2,416 sqft
2019-02-01 63 days 2,423 sqft
2019-03-01 51 days 2,480 sqft
2019-04-01 46 days 2,519 sqft
2019-05-01 46 days 2,558 sqft
2019-06-01 47 days 2,547 sqft
2019-07-01 50 days 2,482 sqft
2019-08-01 50 days 2,436 sqft
2019-09-01 52 days 2,407 sqft
2019-10-01 53 days 2,387 sqft
2019-11-01 55 days 2,362 sqft
2019-12-01 64 days 2,359 sqft
2020-01-01 70 days 2,334 sqft
2020-02-01 57 days 2,356 sqft
2020-03-01 38 days 2,388 sqft
2020-04-01 41 days 2,327 sqft
2020-05-01 52 days 2,409 sqft
2020-06-01 45 days 2,437 sqft
2020-07-01 42 days 2,424 sqft
2020-08-01 37 days 2,384 sqft
2020-09-01 33 days 2,356 sqft
2020-10-01 35 days 2,278 sqft
2020-11-01 41 days 2,236 sqft
2020-12-01 47 days 2,195 sqft
2021-01-01 46 days 2,192 sqft
2021-02-01 30 days 2,057 sqft
2021-03-01 28 days 2,077 sqft
2021-04-01 25 days 2,097 sqft
2021-05-01 22 days 2,110 sqft
2021-06-01 22 days 2,088 sqft
2021-07-01 24 days 2,058 sqft
2021-08-01 25 days 2,047 sqft
2021-09-01 28 days 2,061 sqft
2021-10-01 30 days 2,046 sqft
2021-11-01 31 days 2,040 sqft
2021-12-01 38 days 1,984 sqft
2022-01-01 39 days 1,986 sqft
2022-02-01 26 days 1,958 sqft
2022-03-01 17 days 1,978 sqft
2022-04-01 17 days 1,994 sqft
2022-05-01 20 days 2,042 sqft
2022-06-01 26 days 2,105 sqft
2022-07-01 30 days 2,085 sqft
2022-08-01 36 days 2,082 sqft
2022-09-01 43 days 2,079 sqft
2022-10-01 44 days 2,049 sqft
2022-11-01 47 days 2,017 sqft
2022-12-01 57 days 1,959 sqft
2023-01-01 67 days 1,938 sqft
2023-02-01 55 days 1,952 sqft
2023-03-01 42 days 1,968 sqft
2023-04-01 39 days 2,016 sqft
2023-05-01 39 days 2,056 sqft
2023-06-01 38 days 2,078 sqft
2023-07-01 39 days 2,089 sqft
2023-08-01 38 days 2,050 sqft
2023-09-01 40 days 2,031 sqft
2023-10-01 40 days 2,000 sqft
2023-11-01 43 days 1,945 sqft
2023-12-01 53 days 1,911 sqft
2024-01-01 59 days 1,890 sqft
2024-02-01 45 days 1,886 sqft
2024-03-01 38 days 1,919 sqft
2024-04-01 37 days 1,952 sqft
Charlotte's median listing age (time on market) for 2024-04-01 was 37 days. This is -5% shorter than the same period one year ago.

Charlotte's median square footage for active listings during the 2024-04-01 period was 1,952 sqft. One year prior, the average listing was 2,016 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).