Charlotte FHA Loans

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 278 lenders originated 13,467 FHA loans during 2021. The total origination value was $3,226,595,000, with an average FHA loan value of $239,593.

Charlotte FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Charlotte averaged 5.88% for the week of 2022-09-23, compared to the national average (all FHA variants) of 6.08% for the same period.

The average rate for the prior week (2022-09-16) was 5.88% and one month ago for the week of 2022-08-19, the average rate was 5.2%.

The average rate one year ago was 3.04%.

For refis of the same type during the week of 2022-09-23, the average rate was 5.79%.

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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Charlotte level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 1,544 2.68% $6,432
MOVEMENT MORTGAGE, LLC 1,119 3.04% $7,577
LAKEVIEW LOAN SERVICING, LLC 505 2.91% $4,731
FREEDOM MORTGAGE CORPORATION 409 2.87% $5,207
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 385 3.25% $8,271
LOANDEPOT.COM, LLC 368 3.30% $8,792
PENNYMAC LOAN SERVICES, LLC 364 2.93% $5,425
Mr. Cooper ( Nationstar Mortgage ) 353 3.27% $4,687
CROSSCOUNTRY MORTGAGE, LLC 281 3.19% $8,954
DHI MORTGAGE COMPANY, LTD. 278 2.77% $5,663
NEWREZ LLC 259 2.95% $6,193
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 233 3.21% $8,503
Lakeview Community Capital, LLC 219 2.86% $4,912
UNITED WHOLESALE MORTGAGE, LLC 210 2.74% $7,735
NVR Mortgage Finance, Inc. 191 3.07% $9,787
BROKER SOLUTIONS, INC. 185 3.30% $8,556
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 183 3.27% $8,802
EAGLE HOME MORTGAGE, LLC 173 3.14% $8,117
CALIBER HOME LOANS, INC. 156 2.89% $6,682
First Federal Bank 150 2.96% $7,117
VILLAGE CAPITAL MORTGAGE 133 2.92% $2,618
GUILD MORTGAGE COMPANY 133 3.09% $9,115
American Security Mortgage Corp. 115 2.81% $7,503
CORNERSTONE HOME LENDING, INC. 112 3.24% $8,711
Carrington Mortgage Services, LLC 103 3.38% $8,500
SOUTHERN TRUST MORTGAGE, LLC 100 3.09% $6,829
RELIANCE FIRST CAPITAL, LLC 95 3.09% $8,826
Colten Mortgage, LLC 88 3.35% $8,149
PRIMARY RESIDENTIAL MORTGAGE, INC. 84 3.76% $8,407
HOMEBRIDGE FINANCIAL SERVICES, INC. 79 2.74% $6,209
HOMESTAR FINANCIAL CORPORATION 75 3.12% $6,641
AMERICAN FINANCIAL NETWORK, INC. 73 3.16% $11,228
CERTAINTY HOME LOANS, LLC 68 3.08% $8,528
Alcova Mortgage LLC 65 3.27% $6,970
MCLEAN MORTGAGE CORPORATION 63 2.88% $7,701
INSPIRE HOME LOANS INC. 63 3.13% $8,258
RAPID MORTGAGE COMPANY 62 3.34% $8,825
AMERISAVE MORTGAGE CORPORATION 62 3.03% $8,756
AmeriHome Mortgage Company, LLC 60 2.86% $5,086
Towne Bank 59 2.94% $8,283
HOME POINT FINANCIAL CORPORATION 56 2.70% $6,379
InterContinental Capital Group, Inc 54 2.76% $7,672
Nations Lending Corporation 50 3.43% $10,739
MATTAMY HOME FUNDING, LLC 47 2.62% $9,752
Allen Tate Mortgage Partners, LLC 41 3.20% $7,801
Truist 40 2.82% $8,623
TJC Mortgage, Inc. 40 3.03% $8,207
Northpointe Bank 40 3.17% $7,881
Uwharrie Bank 39 2.90% $6,551
SUMMIT FUNDING, INC. 39 3.11% $8,610
HOMESIDE FINANCIAL, LLC 38 3.11% $8,065
First Guaranty Mortgage Corporation 37 2.90% $5,880
VANDERBILT MORTGAGE AND FINANCE, INC. 37 3.35% $8,783
THRIVE MORTGAGE, LLC 36 3.14% $7,929
INTERLINC MORTGAGE SERVICES, LLC 34 3.41% $6,470
PLANET HOME LENDING, LLC 33 2.85% $5,406
Hometown Lenders, Inc. 32 3.48% $7,987
FINANCE OF AMERICA MORTGAGE LLC 32 2.95% $7,000
PREMIER LENDING, INC. 31 2.98% $8,155
Wyndham Capital Mortgage, Inc. 31 2.88% $7,413
SUN WEST MORTGAGE COMPANY, INC. 31 3.20% $6,638
PRIMELENDING, A PLAINSCAPITAL COMPANY 31 3.42% $8,536
GUARANTEED RATE, INC. 31 2.95% $8,092
First-Citizens Bank & Trust Company 31 2.76% $7,028
M/I FINANCIAL, LLC 30 2.90% $9,270
LENDUS, LLC 30 3.30% $8,209
AMERIFIRST FINANCIAL CORPORATION 28 3.68% $8,799
RESIDENTIAL MORTGAGE SERVICES, INC. 28 3.07% $7,554
CMG MORTGAGE, INC. 28 3.31% $8,485
NFM, INC. 26 3.48% $8,591
INTERCOASTAL MORTGAGE COMPANY 25 2.95% $7,693
AMERICAN FINANCIAL RESOURCES, INC. 25 3.16% $8,176
Bank of America 23 2.95% $5,050
CALCON MUTUAL MORTGAGE LLC 23 3.60% $11,189
Wolfe Financial, Inc 22 3.26% $7,791
Fifth Third Bank 22 2.94% $6,283
Paramount Residential Mortgage Group, Inc. 22 3.35% $9,500
BAY EQUITY LLC 21 2.92% $10,318
GENEVA FINANCIAL, LLC 21 3.63% $9,704
Ameris Bank 21 2.91% $8,192
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 19 3.24% $7,800
ALLIED MORTGAGE GROUP, INC. 19 3.32% $7,316
MUTUAL OF OMAHA MORTGAGE, INC. 18 3.00% $8,564
Atlantic Home Loans, Inc. 18 3.21% $7,321
FIDELITY DIRECT MORTGAGE, LLC 18 3.38% $9,820
Equity Prime Mortgage LLC 18 3.43% $8,899
TOP FLITE FINANCIAL, INC. 17 3.21% $13,382
Renasant Bank 17 3.04% $6,207
AMERICAN PACIFIC MORTGAGE CORPORATION 16 3.54% $7,630
Flagstar Bank, FSB 16 2.85% $7,112
EMBRACE HOME LOANS, INC. 14 3.10% $7,786
OCEANSIDE MORTGAGE COMPANY 14 2.68% $3,180
FBC MORTGAGE, LLC 14 3.04% $8,428
Gateway First Bank 14 3.45% $7,143
South Pacific Financial Corporation 14 2.71% $10,095
UNITED SECURITY FINANCIAL CORP 14 2.70% $5,578
Amerifirst Financial, Inc. 14 3.15% $6,735
LIBERTY HOME MORTGAGE CORPORATION 14 3.11% $8,781
AMERICAN FINANCING CORPORATION 14 2.96% $8,203
GUARANTEED RATE AFFINITY, LLC 13 2.99% $7,033
SUCCESS MORTGAGE PARTNERS, INC. 13 3.22% $8,473
C & F Mortgage Corporation 13 2.87% $7,423
Blue Ridge Bank 13 3.53% $8,171
Shamrock Home Loans, Inc. 13 3.50% $8,937
Platinum Home Mortgage Corporation 12 3.42% $8,664
GoPrime Mortgage, Inc. 12 3.44% $7,563
HAMILTON HOME LOANS, INC. 12 3.16% $9,815
Mortgage Research Center, LLC 12 3.13% $6,220
SOVEREIGN LENDING GROUP INCORPORATED 12 3.19% $9,411
T2 FINANCIAL LLC 12 3.44% $9,001
The Federal Savings Bank 12 3.10% $9,751
KELLER MORTGAGE, LLC 12 2.91% $5,961
ANGEL OAK HOME LOANS LLC 12 3.04% $8,673
PULTE MORTGAGE LLC 12 3.15% $6,441
HOMEOWNERS FINANCIAL GROUP USA, LLC 11 3.18% $8,809
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 11 3.44% $9,230
Wells Fargo Bank 11 3.16% $7,109
ACOPIA, LLC 11 3.17% $11,582
MILEND, INC. 11 2.92% $9,259
POLARIS HOME FUNDING CORP. 10 3.25% $9,049
Prosperity Home Mortgage, LLC 9 3.53% $7,690
MID AMERICA MORTGAGE, INC. 9 3.51% $4,816
EVERETT FINANCIAL, INC. 9 3.88% $6,750
ARK-LA-TEX FINANCIAL SERVICES, LLC. 9 3.10% $5,089
First Heritage Mortgage, LLC 9 2.94% $8,736
MICHIGAN MUTUAL, INC. 9 2.99% $10,308
South State Bank 9 2.83% $7,400
MORTGAGE SOLUTIONS OF COLORADO, LLC 9 3.64% $9,728
JET HOMELOANS, LLC 9 3.00% $9,766
COUNTRYPLACE MORTGAGE, LTD. 9 3.26% $11,675
PNC Bank 9 2.74% $6,232
CAPITAL CENTER, L.L.C. 8 2.80% $5,011
GUARANTY HOME MORTGAGE CORPORATION 8 3.00% $6,370
SeaTrust Mortgage Company 8 2.92% $9,603
ZILLOW HOME LOANS, LLC 7 3.13% $7,107
LOANLEADERS OF AMERICA, INC. 7 2.82% $11,129
LOANPAL, LLC 7 2.46% $10,153
Manufacturers and Traders Trust Company 6 3.29% $5,812
LAND HOME FINANCIAL SERVICES, INC. 6 3.54% $10,585
CIS Financial Services, Inc. 6 3.27% $7,499
ARC HOME LLC 6 2.87% $7,731
U.S. Bank 6 3.06% $8,051
Bank of England 6 3.54% $9,501
HALLMARK HOME MORTGAGE, LLC 6 3.25% $7,661
Magnolia Bank 6 3.06% $8,685
Low VA Rates, LLC 6 2.73% $4,094
NTFN, INC. 6 2.88% $7,880
ABSOLUTE HOME MORTGAGE CORPORATION 6 3.21% $8,562
MORTGAGE INVESTORS GROUP, INC. 6 2.92% $8,057
Hometown Equity Mortgage, LLC 5 3.50% $11,193
MORIA DEVELOPMENT, INC. 5 3.63% $9,578
Truliant Federal Credit Union 5 2.88% $7,467
ROYAL UNITED MORTGAGE LLC 5 3.15% $9,144
Citizens Bank 5 2.73% $6,232
Willamette Valley Bank 5 3.08% $7,918
Peoples Bank 5 3.43% $9,124
First Community Bank 4 2.81% $10,188
Plains Commerce Bank 4 2.69% $9,829
SOUTHWEST FUNDING, LP 4 3.91% $9,726
CELEBRITY HOME LOANS, LLC 4 3.53% $8,097
SHELTER HOME MORTGAGE, LLC 4 3.38% $8,887
VAN DYK MORTGAGE CORPORATION 4 3.03% $8,063
George Mason Mortgage, LLC 4 3.00% $7,289
RUOFF MORTGAGE COMPANY, INC. 4 3.34% $5,720
UNION HOME MORTGAGE CORP. 4 2.63% $8,090
BETTER MORTGAGE CORPORATION 4 2.34% $6,954
EQUITY RESOURCES, INC. 4 2.97% $7,981
CLEARPATH LENDING 4 2.88% $7,410
NATIONS DIRECT MORTGAGE, LLC 4 3.12% $8,160
Austin Capital Bank SSB 4 2.94% $7,526
LADERA LENDING, INC. 4 3.50% $10,153
CITY FIRST MORTGAGE SERVICES, L.L.C. 3 3.17% $5,875
ENVOY MORTGAGE, LTD 3 3.04% $10,259
TOWNE MORTGAGE COMPANY 3 2.88% $9,759
FAMILY FIRST FUNDING LLC 3 3.17% $7,488
Regions Bank 3 2.63% $6,520
DEVELOPER'S MORTGAGE COMPANY 3 3.63% $4,884
Barrington Bank & Trust Company, N.A. 3 3.54% $6,868
RESIDENTIAL HOME FUNDING CORP. 3 3.00% $11,122
First Home Bank 3 3.33% $10,211
CHURCHILL MORTGAGE CORPORATION 3 3.17% $7,467
CONTOUR MORTGAGE CORPORATION 3 2.58% $9,884
FirstBank 3 2.88% $9,562
UNITED MORTGAGE CORP. 3 3.21% $10,310
UNITED NORTHERN MORTGAGE BANKERS LIMITED 3 3.04% $8,052
MIDLAND MORTGAGE CORPORATION 3 3.42% $7,783
PHH Mortgage Corporation 3 3.21% $5,472
FIRST COMMUNITY MORTGAGE, INC. 3 3.13% $8,624
NATIONWIDE MORTGAGE BANKERS, INC. 3 3.17% $10,449
STEARNS LENDING, LLC 3 2.42% $8,709
RESOURCE FINANCIAL SERVICES, INC. 2 2.88% $8,658
Strong Home Mortgage, LLC 2 2.38% $6,562
Christensen Financial, Inc. 2 3.75% $5,425
SWBC MORTGAGE CORPORATION 2 3.13% $9,419
Florida Capital Bank 2 2.88% $11,189
NBKC BANK 2 3.50% $6,045
The Union Bank Company 2 2.69% $6,032
FLAT BRANCH MORTGAGE, INC. 2 3.25% $10,756
First Savings Bank 2 2.81% $9,944
BAYSHORE MORTGAGE FUNDING, LLC 2 3.31% $9,031
North American Savings Bank, F.S.B. 2 2.50% $5,404
NP, Inc. 2 3.13% $12,489
Lend Smart Mortgage, LLC 2 3.56% $9,269
Meridian Bank Corporation 2 2.50% $8,798
US MORTGAGE CORPORATION 2 3.38% $7,594
FIRST HOME MORTGAGE CORPORATION 2 3.06% $7,719
VERITAS FUNDING, LLC 2 2.56% $8,143
HOMESTEAD FUNDING CORP. 2 2.50% $8,102
Waterstone Mortgage Corporation 2 3.50% $5,909
AmRes Corporation 2 3.00% $9,067
JPMorgan Chase Bank 2 3.19% $3,493
Pinnacle Bank 2 3.06% $7,322
HOMESPIRE MORTGAGE CORPORATION 2 2.94% $10,116
Ixonia Bank 2 3.19% $9,061
FAY SERVICING, LLC 2 3.31% $6,431
INTERSTATE HOME LOAN CENTER, INC. 2 3.19% $9,498
LEADERONE FINANCIAL CORPORATION 2 3.38% $6,903
MORTGAGE EQUITY PARTNERS LLC 2 3.13% $8,715
DIRECT MORTGAGE LOANS, LLC 2 2.81% $12,476
DATA MORTGAGE, INC. 2 3.50% $7,450
SOUTHPOINT FINANCIAL SERVICES, INC. 2 2.50% $9,208
ROSS MORTGAGE CORPORATION 2 3.13% $8,346
1ST SIGNATURE LENDING, LLC 2 3.63% $8,654
SECURITYNATIONAL MORTGAGE COMPANY 2 3.63% $10,216
Southern First Bank 2 2.88% $7,773
GSF Mortgage Corporation 2 3.31% $9,976
KeyBank 1 2.75% $6,848
JLB CORPORATION 1 2.75% $6,282
JET DIRECT FUNDING CORP 1 3.13% $10,170
Leaders Credit Union 1 3.50% $6,028
INTERNATIONAL CITY MORTGAGE, INC. 1 3.50% $11,016
INLAND BANK & TRUST 1 3.25% $13,367
HUNT MORTGAGE CORPORATION 1 3.63% $8,062
Home Mortgage Alliance Corp 1 2.50% $9,627
MLD MORTGAGE INC. 1 2.88% $8,864
Mortgage Assurance Inc. 1 2.63% $7,758
Mortgage Network, Inc. 1 3.13% $6,429
HARTFORD FUNDING, LTD. 1 3.00% $7,565
FREEDOM FIRST 1 2.50% $7,999
NATION ONE MORTGAGE CORPORATION 1 2.75% $7,439
NexBank 1 2.63% $7,198
First Palmetto Bank 1 3.63% $7,652
First Mortgage Solutions, LLC 1 3.50% $6,196
First Horizon Bank 1 2.50% $6,910
OPEN MORTGAGE, LLC 1 2.50% $10,527
PARKSIDE LENDING, LLC 1 2.50% $6,083
PLAZA HOME MORTGAGE, INC. 1 3.38% $9,227
First Bank 1 3.13% $4,967
FIRST ALLIANCE HOME MORTGAGE, LLC 1 2.38% $8,012
Prime Choice Funding Inc. 1 2.25% $6,981
Princeton Mortgage Corporation 1 2.75% $7,960
Evolve Bank & Trust 1 2.75% $8,137
RADIUS FINANCIAL GROUP INC. 1 3.00% $7,968
DRAPER AND KRAMER MORTGAGE CORP. 1 2.95% $6,593
RESIDENTIAL BANCORP. 1 2.25% $10,048
Corporate Investors Mortgage Group, Inc. 1 2.50% $6,734
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 2.88% $6,862
Colonial Savings, F.A. 1 3.50% $4,745
SOUTHWEST STAGE FUNDING, LLC 1 2.75% $3,907
Sunflower Bank 1 2.99% $9,336
Synovus Bank 1 3.38% $12,252
Chickasaw Community Bank 1 3.00% $5,188
TD Bank 1 3.00% $9,174
The Fidelity Bank 1 2.75% $4,660
THE MORTGAGE FIRM, INC. 1 3.13% $6,158
TIAA, FSB 1 2.75% $8,156
TIDEWATER MORTGAGE SERVICES, INC. 1 3.50% $7,284
BEST CAPITAL FUNDING 1 3.63% $7,648
TOTAL MORTGAGE SERVICES, LLC 1 4.50% $8,909
BANKSOUTH MORTGAGE COMPANY, LLC 1 2.50% $6,160
Trustmark National Bank 1 3.00% $3,687
United Bank 1 2.88% $7,812
United Community Bank 1 4.13% $8,405
United Fidelity Funding Corp. 1 2.88% $8,159
Assurance Financial Group, L.L.C. 1 3.63% $9,262
Valley National Bank 1 3.13% $6,588
APEX HOME LOANS, INC. 1 2.38% $7,145
Alpha Mortgage Corporation 1 4.25% $10,301

The top Charlotte FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,544 FHA loans originated. Their average total fees are $6,432, which is $1,144 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Charlotte FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,618), OCEANSIDE MORTGAGE COMPANY ($3,180), Mr. Cooper ( Nationstar Mortgage ) ($4,687), LAKEVIEW LOAN SERVICING, LLC ($4,731) and Lakeview Community Capital, LLC ($4,912).

The lowest rate Charlotte FHA lenders (with over 10 loans originated) are MATTAMY HOME FUNDING, LLC (2.62%), QUICKEN LOANS, LLC (2.68%), OCEANSIDE MORTGAGE COMPANY (2.68%), HOME POINT FINANCIAL CORPORATION (2.70%) and UNITED SECURITY FINANCIAL CORP (2.70%).

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

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 $334,995 (9.1%) $435,018 (8.4%) 1.23 7,086
2018-02-01 $335,000 (5.6%) $439,756 (6.2%) 1.21 7,101
2018-03-01 $345,000 (5.0%) $449,677 (4.9%) 1.19 7,375
2018-04-01 $350,000 (3.3%) $460,762 (4.7%) 1.17 7,670
2018-05-01 $354,500 (2.8%) $467,397 (3.6%) 1.18 8,117
2018-06-01 $353,900 (2.1%) $464,835 (2.6%) 1.18 8,565
2018-07-01 $347,000 (1.5%) $453,158 (1.0%) 1.16 8,959
2018-08-01 $340,000 (0.6%) $445,389 (1.8%) 1.14 9,185
2018-09-01 $339,759 (1.4%) $444,463 (1.8%) 1.14 9,057
2018-10-01 $332,962 (-0.9%) $435,477 (-0.5%) 1.11 9,253
2018-11-01 $329,900 (0.0%) $431,793 (-0.2%) 1.11 9,061
2018-12-01 $325,000 (-1.5%) $428,175 (-0.4%) 1.11 8,540
2019-01-01 $325,000 (-3.0%) $429,457 (-1.3%) 1.12 8,029
2019-02-01 $329,900 (-1.5%) $439,863 (0.0%) 1.11 7,999
2019-03-01 $341,386 (-1.1%) $465,785 (3.6%) 1.11 8,053
2019-04-01 $349,950 (0.0%) $479,677 (4.1%) 1.10 8,207
2019-05-01 $357,058 (0.7%) $480,080 (2.7%) 1.10 8,408
2019-06-01 $359,000 (1.4%) $478,240 (2.9%) 1.11 8,597
2019-07-01 $349,950 (0.9%) $459,323 (1.4%) 1.09 8,582
2019-08-01 $345,531 (1.6%) $451,051 (1.3%) 1.09 8,422
2019-09-01 $339,900 (0.0%) $464,941 (4.6%) 1.08 8,233
2019-10-01 $335,900 (0.9%) $460,338 (5.7%) 1.07 8,452
2019-11-01 $335,000 (1.6%) $439,094 (1.7%) 1.08 7,897
2019-12-01 $339,700 (4.5%) $442,484 (3.3%) 1.13 7,041
2020-01-01 $339,200 (4.4%) $447,774 (4.3%) 1.13 6,371
2020-02-01 $345,000 (4.6%) $465,061 (5.7%) 1.11 5,729
2020-03-01 $352,930 (3.4%) $482,844 (3.7%) 1.10 5,924
2020-04-01 $345,000 (-1.4%) $462,585 (-3.6%) 1.07 6,526
2020-05-01 $355,000 (-0.6%) $484,585 (0.9%) 1.08 6,234
2020-06-01 $369,955 (3.1%) $512,270 (7.1%) 1.08 5,263
2020-07-01 $373,500 (6.7%) $517,040 (12.6%) 1.07 4,748
2020-08-01 $375,000 (8.5%) $520,259 (15.3%) 1.07 4,517
2020-09-01 $377,413 (11.0%) $525,716 (13.1%) 1.08 4,404
2020-10-01 $374,653 (11.5%) $522,120 (13.4%) 1.07 4,313
2020-11-01 $375,000 (11.9%) $524,101 (19.4%) 1.07 4,011
2020-12-01 $374,320 (10.2%) $516,003 (16.6%) 1.10 3,487
2021-01-01 $368,500 (8.6%) $512,534 (14.5%) 1.08 3,086
2021-02-01 $364,315 (5.6%) $514,795 (10.7%) 1.05 2,582
2021-03-01 $377,450 (7.0%) $546,204 (13.1%) 1.06 2,220
2021-04-01 $389,000 (12.8%) $558,932 (20.8%) 1.05 2,147
2021-05-01 $390,000 (9.9%) $552,769 (14.1%) 1.03 2,310
2021-06-01 $389,693 (5.3%) $546,560 (6.7%) 1.01 2,642
2021-07-01 $389,950 (4.4%) $532,239 (2.9%) 1.01 2,922
2021-08-01 $385,450 (2.8%) $516,459 (-0.7%) 1.01 3,181
2021-09-01 $390,923 (3.6%) $525,209 (-0.1%) 1.03 3,189
2021-10-01 $399,900 (6.7%) $528,042 (1.1%) 1.05 3,108
2021-11-01 $399,500 (6.5%) $526,241 (0.4%) 1.05 2,987
2021-12-01 $395,000 (5.5%) $525,691 (1.9%) 1.05 2,542
2022-01-01 $399,950 (8.5%) $537,013 (4.8%) 1.07 2,036
2022-02-01 $399,089 (9.5%) $550,494 (6.9%) 1.02 1,728
2022-03-01 $409,500 (8.5%) $562,198 (2.9%) 1.01 1,803
2022-04-01 $419,000 (7.7%) $584,282 (4.5%) 0.99 2,054
2022-05-01 $434,894 (11.5%) $598,284 (8.2%) 0.97 2,797
2022-06-01 $445,000 (14.2%) $596,831 (9.2%) 0.99 3,612
2022-07-01 $430,000 (10.3%) $578,899 (8.8%) 0.96 4,959
2022-08-01 $425,000 (10.3%) $568,828 (10.1%) 0.98 5,227
Charlotte's median listing price for 2022-08-01 was $425,000, a difference of $39,550 (10.3%) versus the prior year and $-5,000 versus the prior month.

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

Charlotte's average listing price for 2022-08-01 was $568,828, a difference of $52,369 (10.1%) versus the prior year and $-10,071 versus the prior month.

For the 2022-08-01 period, Charlotte had 5,227 MLS listings, a difference of 268 listings (5%) versus the prior month and 2,046 listings (64%) 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 85 days 2,556 sqft
2018-02-01 74 days 2,546 sqft
2018-03-01 52 days 2,618 sqft
2018-04-01 50 days 2,638 sqft
2018-05-01 49 days 2,653 sqft
2018-06-01 50 days 2,656 sqft
2018-07-01 53 days 2,613 sqft
2018-08-01 54 days 2,572 sqft
2018-09-01 58 days 2,540 sqft
2018-10-01 63 days 2,504 sqft
2018-11-01 63 days 2,470 sqft
2018-12-01 70 days 2,439 sqft
2019-01-01 77 days 2,417 sqft
2019-02-01 70 days 2,427 sqft
2019-03-01 56 days 2,483 sqft
2019-04-01 51 days 2,522 sqft
2019-05-01 49 days 2,563 sqft
2019-06-01 50 days 2,553 sqft
2019-07-01 51 days 2,488 sqft
2019-08-01 52 days 2,451 sqft
2019-09-01 56 days 2,425 sqft
2019-10-01 57 days 2,394 sqft
2019-11-01 57 days 2,382 sqft
2019-12-01 67 days 2,375 sqft
2020-01-01 74 days 2,359 sqft
2020-02-01 64 days 2,368 sqft
2020-03-01 43 days 2,418 sqft
2020-04-01 43 days 2,347 sqft
2020-05-01 57 days 2,413 sqft
2020-06-01 53 days 2,443 sqft
2020-07-01 48 days 2,436 sqft
2020-08-01 42 days 2,406 sqft
2020-09-01 38 days 2,376 sqft
2020-10-01 41 days 2,304 sqft
2020-11-01 44 days 2,246 sqft
2020-12-01 51 days 2,204 sqft
2021-01-01 55 days 2,200 sqft
2021-02-01 35 days 2,078 sqft
2021-03-01 34 days 2,095 sqft
2021-04-01 32 days 2,106 sqft
2021-05-01 28 days 2,134 sqft
2021-06-01 27 days 2,109 sqft
2021-07-01 28 days 2,076 sqft
2021-08-01 28 days 2,053 sqft
2021-09-01 31 days 2,073 sqft
2021-10-01 32 days 2,063 sqft
2021-11-01 34 days 2,049 sqft
2021-12-01 40 days 1,997 sqft
2022-01-01 45 days 2,010 sqft
2022-02-01 31 days 1,981 sqft
2022-03-01 20 days 1,985 sqft
2022-04-01 20 days 2,005 sqft
2022-05-01 23 days 2,056 sqft
2022-06-01 29 days 2,114 sqft
2022-07-01 33 days 2,083 sqft
2022-08-01 37 days 2,081 sqft
Charlotte's median listing age (time on market) for 2022-08-01 was 37 days. This is 32% longer than the same period one year ago.

Charlotte's median square footage for active listings during the 2022-08-01 period was 2,081 sqft. One year prior, the average listing was 2,053 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).