Clewiston FHA Loan Rates, Closing Costs & Stats

Clewiston, FL

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.

Clewiston's 79 lenders originated 342 FHA loans during 2021. The total origination value was $66,180,000, with an average FHA loan value of $193,509.

Clewiston FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Clewiston averaged 6.55% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Clewiston's average FHA mortgage closing costs are $8,139.

The average rate for the prior week (2022-11-25) was 6.57% and one month ago for the week of 2022-10-28, the average rate was 6.61%.

The average rate one year ago was 3.44%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.26%.

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

Clewiston 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 Clewiston level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 29 2.70% $7,428
AMERICAN PACIFIC MORTGAGE CORPORATION 22 3.24% $7,979
UNITED WHOLESALE MORTGAGE, LLC 21 2.71% $8,058
PRIMARY RESIDENTIAL MORTGAGE, INC. 18 3.35% $11,608
MOVEMENT MORTGAGE, LLC 15 3.13% $7,577
CROSSCOUNTRY MORTGAGE, LLC 14 3.05% $8,597
Paramount Residential Mortgage Group, Inc. 12 3.43% $9,557
CMG MORTGAGE, INC. 11 3.38% $9,153
CALIBER HOME LOANS, INC. 8 2.78% $7,918
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 3.00% $7,851
NP, Inc. 7 3.55% $9,257
DHI MORTGAGE COMPANY, LTD. 7 2.86% $6,686
LAKEVIEW LOAN SERVICING, LLC 7 3.08% $3,691
AMERICAN FINANCIAL NETWORK, INC. 7 3.18% $12,137
AMERICAN FINANCIAL RESOURCES, INC. 7 2.88% $7,238
LOANDEPOT.COM, LLC 6 2.87% $9,223
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 6 3.52% $9,462
FREEDOM MORTGAGE CORPORATION 5 3.03% $5,810
Waterstone Mortgage Corporation 4 3.13% $8,786
HOME POINT FINANCIAL CORPORATION 4 3.06% $8,274
HAMILTON HOME LOANS, INC. 4 3.40% $7,586
Lakeview Community Capital, LLC 4 3.34% $3,291
VILLAGE CAPITAL MORTGAGE 4 2.81% $1,002
NEWREZ LLC 4 3.37% $4,363
Carrington Mortgage Services, LLC 3 3.21% $11,766
Mr. Cooper ( Nationstar Mortgage ) 3 3.33% $3,693
BROKER SOLUTIONS, INC. 3 2.83% $7,502
PENNYMAC LOAN SERVICES, LLC 2 2.44% $7,342
BAY EQUITY LLC 2 2.87% $8,476
COLUMBUS CAPITAL LENDING, LLC 2 2.94% $13,567
Equity Prime Mortgage LLC 2 3.31% $12,532
EVERETT FINANCIAL, INC. 2 3.75% $6,796
FINANCE OF AMERICA MORTGAGE LLC 2 3.25% $7,057
First Horizon Bank 2 2.81% $7,338
Gateway First Bank 2 4.19% $6,900
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 3.13% $7,469
INLANTA MORTGAGE, INC. 2 3.13% $9,873
LENDUS, LLC 2 2.69% $6,737
MID AMERICA MORTGAGE, INC. 2 2.75% $3,977
MORTGAGE 1 INCORPORATED 2 3.50% $8,743
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.00% $12,484
First Guaranty Mortgage Corporation 1 2.75% $8,922
Hometown Lenders, Inc. 1 3.75% $20,214
VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.88% $8,748
JPMorgan Chase Bank 1 3.13% $5,036
First Federal Bank 1 2.75% $4,927
ENVOY MORTGAGE, LTD 1 3.13% $9,002
AMCAP MORTGAGE, LTD. 1 3.25% $8,256
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 3.63% $8,375
Watermark Capital, Inc. 1 2.38% $6,520
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.88% $10,662
Commerce Home Mortgage, Inc. 1 3.25% $7,171
CityWorth Mortgage LLC 1 2.75% $6,162
Nations Lending Corporation 1 3.25% $4,484
Barrington Bank & Trust Company, N.A. 1 3.38% $8,720
Northpointe Bank 1 3.63% $6,464
NORWICH COMMERCIAL GROUP, INC. 1 3.25% $8,707
Bank of England 1 3.88% $9,164
OCMBC, INC. 1 3.25% $6,208
AmRes Corporation 1 3.50% $10,318
1ST FINANCIAL, INC. 1 3.38% $11,518
Plains Commerce Bank 1 2.50% $10,064
PLANET HOME LENDING, LLC 1 2.88% $3,415
Premium Mortgage Corporation 1 2.88% $3,345
Ameris Bank 1 2.88% $7,741
AMERISAVE MORTGAGE CORPORATION 1 2.75% $4,884
SECURITYNATIONAL MORTGAGE COMPANY 1 3.25% $9,284
SIGNATURE MORTGAGE CORPORATION 1 3.25% $9,139
South State Bank 1 2.88% $7,827
SUN WEST MORTGAGE COMPANY, INC. 1 2.75% $3,956
The Federal Savings Bank 1 2.50% $16,024
THE MORTGAGE FIRM, INC. 1 3.00% $9,581
TOTAL MORTGAGE SERVICES, LLC 1 3.63% $9,888
UNION HOME MORTGAGE CORP. 1 3.25% $6,620
Goldwater Bank, N.A. 1 3.38% $7,559
GSF Mortgage Corporation 1 3.75% $3,124
GUARANTEED RATE, INC. 1 2.88% $6,865
FOUNDATION MORTGAGE CORPORATION 1 2.75% $7,311
AmeriHome Mortgage Company, LLC 1 3.13% $3,180

The top Clewiston FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 29 FHA loans originated. Their average total fees are $7,428, which is $552 lower than the next largest lender, AMERICAN PACIFIC MORTGAGE CORPORATION.

The lowest fee Clewiston FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($7,428), MOVEMENT MORTGAGE, LLC ($7,577), AMERICAN PACIFIC MORTGAGE CORPORATION ($7,979), UNITED WHOLESALE MORTGAGE, LLC ($8,058) and CROSSCOUNTRY MORTGAGE, LLC ($8,597).

The lowest rate Clewiston FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.70%), UNITED WHOLESALE MORTGAGE, LLC (2.71%), CROSSCOUNTRY MORTGAGE, LLC (3.05%), MOVEMENT MORTGAGE, LLC (3.13%) and AMERICAN PACIFIC MORTGAGE CORPORATION (3.24%).

Clewiston FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
CLEWISTON, FL HENDRY 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Clewiston (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 $227,000 (7.2%) $326,642 (-1.3%) 0.00 98
2018-02-01 $219,500 (-1.2%) $311,982 (-10.1%) 0.00 97
2018-03-01 $199,900 (0.0%) $307,298 (-8.6%) 0.00 97
2018-04-01 $222,500 (4.0%) $351,418 (4.3%) 0.00 91
2018-05-01 $219,950 (7.6%) $356,307 (0.0%) 0.00 83
2018-06-01 $219,900 (13.1%) $351,600 (7.2%) 0.00 82
2018-07-01 $199,900 (5.3%) $352,682 (16.9%) 0.00 88
2018-08-01 $197,450 (4.1%) $309,604 (2.3%) 0.00 98
2018-09-01 $210,000 (6.4%) $330,830 (4.3%) 0.00 95
2018-10-01 $217,450 (13.2%) $332,645 (10.3%) 0.00 103
2018-11-01 $210,000 (5.2%) $329,365 (6.8%) 0.00 102
2018-12-01 $217,450 (-3.4%) $328,421 (-4.8%) 0.00 110
2019-01-01 $205,675 (-9.4%) $338,138 (3.5%) 0.00 110
2019-02-01 $213,675 (-2.7%) $341,059 (9.3%) 0.00 106
2019-03-01 $226,357 (13.2%) $348,618 (13.5%) 0.00 104
2019-04-01 $226,332 (1.7%) $354,394 (0.9%) 0.00 101
2019-05-01 $218,750 (-0.6%) $332,285 (-6.7%) 0.00 106
2019-06-01 $229,650 (4.4%) $352,711 (0.3%) 0.00 100
2019-07-01 $210,000 (5.1%) $336,425 (-4.6%) 0.00 98
2019-08-01 $209,381 (6.0%) $330,165 (6.6%) 0.00 97
2019-09-01 $223,454 (6.4%) $337,167 (1.9%) 0.00 96
2019-10-01 $232,836 (7.1%) $341,835 (2.8%) 0.00 97
2019-11-01 $236,700 (12.7%) $346,323 (5.2%) 0.00 95
2019-12-01 $243,975 (12.2%) $341,989 (4.1%) 0.00 97
2020-01-01 $236,225 (14.9%) $348,707 (3.1%) 0.00 98
2020-02-01 $219,900 (2.9%) $336,327 (-1.4%) 0.00 115
2020-03-01 $222,450 (-1.7%) $340,094 (-2.4%) 0.00 117
2020-04-01 $224,950 (-0.6%) $357,473 (0.9%) 0.00 109
2020-05-01 $224,950 (2.8%) $336,936 (1.4%) 0.00 101
2020-06-01 $225,000 (-2.0%) $358,340 (1.6%) 0.00 93
2020-07-01 $255,000 (21.4%) $352,736 (4.9%) 0.00 80
2020-08-01 $236,200 (12.8%) $369,318 (11.9%) 0.00 80
2020-09-01 $244,900 (9.6%) $373,884 (10.9%) 0.00 85
2020-10-01 $255,730 (9.8%) $386,282 (13.0%) 0.00 76
2020-11-01 $249,925 (5.6%) $410,736 (18.6%) 0.00 74
2020-12-01 $250,000 (2.5%) $434,821 (27.1%) 0.00 69
2021-01-01 $249,950 (5.8%) $446,340 (28.0%) 0.00 68
2021-02-01 $247,500 (12.6%) $463,741 (37.9%) 0.00 68
2021-03-01 $252,450 (13.5%) $467,835 (37.6%) 0.00 68
2021-04-01 $266,000 (18.3%) $483,288 (35.2%) 0.00 60
2021-05-01 $279,500 (24.3%) $490,152 (45.5%) 0.00 59
2021-06-01 $281,700 (25.2%) $512,717 (43.1%) 0.00 49
2021-07-01 $290,000 (13.7%) $453,611 (28.6%) 0.00 59
2021-08-01 $314,850 (33.3%) $496,438 (34.4%) 0.00 71
2021-09-01 $327,000 (33.5%) $511,579 (36.8%) 0.00 75
2021-10-01 $306,500 (19.9%) $481,251 (24.6%) 0.00 89
2021-11-01 $316,750 (26.7%) $458,306 (11.6%) 0.00 91
2021-12-01 $311,250 (24.5%) $457,002 (5.1%) 0.00 97
2022-01-01 $297,000 (18.8%) $470,191 (5.3%) 0.00 94
2022-02-01 $314,000 (26.9%) $543,050 (17.1%) 0.00 77
2022-03-01 $300,229 (18.9%) $563,756 (20.5%) 0.00 68
2022-04-01 $349,000 (31.2%) $504,420 (4.4%) 0.00 72
2022-05-01 $356,250 (27.5%) $522,542 (6.6%) 0.00 67
2022-06-01 $344,700 (22.4%) $489,011 (-4.6%) 0.00 86
2022-07-01 $354,950 (22.4%) $520,850 (14.8%) 0.00 105
2022-08-01 $359,950 (14.3%) $518,619 (4.5%) 0.00 129
2022-09-01 $349,725 (7.0%) $467,166 (-8.7%) 0.00 150
2022-10-01 $349,900 (14.2%) $446,215 (-7.3%) 0.00 159
2022-11-01 $348,450 (10.0%) $449,368 (-2.0%) 0.00 156
Clewiston's median listing price for 2022-11-01 was $348,450, a difference of $31,700 (10.0%) versus the prior year and $-1,450 versus the prior month.

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

Clewiston's average listing price for 2022-11-01 was $449,368, a difference of $-8,938 (-2.0%) versus the prior year and $3,153 versus the prior month.

For the 2022-11-01 period, Clewiston had 156 MLS listings, a difference of -3 listings (-2%) versus the prior month and 65 listings (71%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Clewiston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,942 sqft
2018-02-01 0 days 1,884 sqft
2018-03-01 0 days 1,757 sqft
2018-04-01 0 days 1,914 sqft
2018-05-01 0 days 1,877 sqft
2018-06-01 0 days 1,768 sqft
2018-07-01 0 days 1,748 sqft
2018-08-01 0 days 1,679 sqft
2018-09-01 0 days 1,779 sqft
2018-10-01 0 days 1,809 sqft
2018-11-01 0 days 1,823 sqft
2018-12-01 0 days 1,828 sqft
2019-01-01 0 days 1,754 sqft
2019-02-01 0 days 1,697 sqft
2019-03-01 0 days 1,673 sqft
2019-04-01 0 days 1,611 sqft
2019-05-01 0 days 1,575 sqft
2019-06-01 0 days 1,609 sqft
2019-07-01 0 days 1,602 sqft
2019-08-01 0 days 1,570 sqft
2019-09-01 0 days 1,568 sqft
2019-10-01 0 days 1,569 sqft
2019-11-01 0 days 1,604 sqft
2019-12-01 0 days 1,697 sqft
2020-01-01 0 days 1,601 sqft
2020-02-01 0 days 1,586 sqft
2020-03-01 0 days 1,602 sqft
2020-04-01 0 days 1,714 sqft
2020-05-01 0 days 1,699 sqft
2020-06-01 0 days 1,731 sqft
2020-07-01 0 days 1,773 sqft
2020-08-01 0 days 1,739 sqft
2020-09-01 0 days 1,713 sqft
2020-10-01 0 days 1,739 sqft
2020-11-01 0 days 1,723 sqft
2020-12-01 0 days 1,726 sqft
2021-01-01 0 days 1,672 sqft
2021-02-01 0 days 1,644 sqft
2021-03-01 0 days 1,608 sqft
2021-04-01 0 days 1,588 sqft
2021-05-01 0 days 1,593 sqft
2021-06-01 0 days 1,598 sqft
2021-07-01 0 days 1,536 sqft
2021-08-01 0 days 1,594 sqft
2021-09-01 0 days 1,609 sqft
2021-10-01 0 days 1,546 sqft
2021-11-01 0 days 1,602 sqft
2021-12-01 0 days 1,546 sqft
2022-01-01 0 days 1,457 sqft
2022-02-01 0 days 1,500 sqft
2022-03-01 0 days 1,515 sqft
2022-04-01 0 days 1,535 sqft
2022-05-01 0 days 1,540 sqft
2022-06-01 0 days 1,538 sqft
2022-07-01 0 days 1,600 sqft
2022-08-01 0 days 1,608 sqft
2022-09-01 0 days 1,601 sqft
2022-10-01 0 days 1,600 sqft
2022-11-01 0 days 1,593 sqft
Clewiston's median listing age (time on market) for 2022-11-01 was 0 days.

Clewiston's median square footage for active listings during the 2022-11-01 period was 1,593 sqft. One year prior, the average listing was 1,602 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).