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 65 lenders originated 299 FHA loans during 2023. The total origination value was $80,625,000, with an average FHA loan value of $269,649.

Clewiston FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Clewiston averaged 6.82% for the week of 2024-05-17, compared to the national average (all FHA variants) of 6.744% for the same period.

Clewiston's average FHA mortgage closing costs are $9,563.

The average rate for the prior week (2024-05-10) was 6.86% and one month ago for the week of 2024-04-12, the average rate was 6.63%.

The average rate one year ago was 6.58%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.94%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 38 6.40% $12,380
DHI MORTGAGE COMPANY, LTD. 21 5.72% $7,999
CROSSCOUNTRY MORTGAGE, LLC 21 6.90% $13,787
HOMESIDE FINANCIAL, LLC 17 6.61% $10,977
QUICKEN LOANS, LLC 16 6.05% $13,714
AMERICAN PACIFIC MORTGAGE CORPORATION 15 6.35% $13,549
NP, Inc. 15 6.87% $14,545
Paramount Residential Mortgage Group, Inc. 12 6.86% $15,714
Waterstone Mortgage Corporation 9 6.44% $13,070
LOANDEPOT.COM, LLC 8 6.69% $12,267
EVERETT FINANCIAL, INC. 8 6.98% $16,010
BROKER SOLUTIONS, INC. 7 6.61% $14,182
CARDINAL FINANCIAL 5 6.63% $13,302
CMG MORTGAGE, INC. 5 7.30% $13,679
NEWREZ LLC 5 6.85% $11,660
Flagstar Bank, FSB 4 6.93% $12,841
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.25% $9,015
MID AMERICA MORTGAGE, INC. 3 7.13% $6,374
AMERICAN FINANCIAL NETWORK, INC. 3 6.17% $9,074
FREEDOM MORTGAGE CORPORATION 2 6.00% $16,574
AMERICAN FINANCIAL RESOURCES, INC. 2 6.00% $10,716
Century Mortgage Company DBA Century Lending Company 2 6.38% $13,872
FBC MORTGAGE, LLC 2 6.50% $10,391
FIRST COMMUNITY MORTGAGE, INC. 2 7.06% $11,886
AMCAP MORTGAGE, LTD. 2 7.44% $15,057
INSPIRE HOME LOANS INC. 2 6.63% $9,737
MOVEMENT MORTGAGE, LLC 2 6.88% $13,335
NATIONWIDE MORTGAGE BANKERS, INC. 2 7.00% $17,046
NETWORK CAPITAL FUNDING CORPORATION 2 6.25% $9,372
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.50% $12,349
SECURITYNATIONAL MORTGAGE COMPANY 2 6.31% $16,400
Sierra Pacific Mortgage Company, Inc. 2 7.00% $17,345
SUN WEST MORTGAGE COMPANY, INC. 2 7.38% $8,963
First Federal Bank 1 5.63% $19,684
MICHIGAN MUTUAL, INC. 1 7.13% $8,061
FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.25% $9,596
Town Square Mortgage & Investments, Inc. 1 7.63% $12,172
Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $10,281
MY MORTGAGE, INC. 1 7.00% $13,485
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $6,415
VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.63% $15,694
Equity Prime Mortgage LLC 1 6.50% $10,758
ENDEAVOR CAPITAL, LLC. 1 6.25% $7,728
Paramount Bank 1 7.13% $4,966
BAY EQUITY LLC 1 5.75% $9,150
PENNYMAC LOAN SERVICES, LLC 1 4.50% $11,169
Plains Commerce Bank 1 5.75% $10,410
PLANET HOME LENDING, LLC 1 5.50% $7,005
PLAZA HOME MORTGAGE, INC. 1 6.25% $19,274
VAN DYK MORTGAGE CORPORATION 1 6.88% $8,565
AXIA FINANCIAL, LLC 1 7.25% $11,154
READY MORTGAGE LENDERS, LLC 1 6.88% $12,052
AMERICAN BANCSHARES MORTGAGE 1 6.75% $12,728
Wells Fargo Bank 1 5.13% $4,475
South State Bank 1 6.25% $11,968
STOCKTON MORTGAGE CORPORATION 1 6.75% $11,458
Wyndham Capital Mortgage, Inc. 1 6.63% $6,989
GENEVA FINANCIAL, LLC 1 6.63% $18,620
GSF Mortgage Corporation 1 5.63% $10,254
GUARANTEED RATE AFFINITY, LLC 1 7.75% $9,735
GUARANTEED RATE, INC. 1 7.50% $15,748
First Horizon Bank 1 6.13% $10,680
THE EQUITABLE MORTGAGE CORPORATION 1 7.75% $15,734
Ixonia Bank 1 6.25% $12,096
Keystone Funding, Inc. 1 6.25% $11,810

The top Clewiston FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 38 FHA loans originated. Their average total fees are $12,380, which is $4,381 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Clewiston FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($7,999), HOMESIDE FINANCIAL, LLC ($10,977), UNITED WHOLESALE MORTGAGE, LLC ($12,380), AMERICAN PACIFIC MORTGAGE CORPORATION ($13,549) and QUICKEN LOANS, LLC ($13,714).

The lowest rate Clewiston FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.72%), QUICKEN LOANS, LLC (6.05%), AMERICAN PACIFIC MORTGAGE CORPORATION (6.35%), UNITED WHOLESALE MORTGAGE, LLC (6.40%) and HOMESIDE FINANCIAL, LLC (6.61%).

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
CLEWISTON, FL HENDRY 2023 $472,030 $604,400 $730,525 $907,900

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 (4.5%) $326,642 (-2.4%) 0.00 98
2018-02-01 $219,500 (-1.8%) $311,982 (-11.0%) 0.00 97
2018-03-01 $199,900 (0.0%) $307,298 (-9.5%) 0.00 97
2018-04-01 $222,500 (6.5%) $351,418 (3.2%) 0.00 91
2018-05-01 $219,950 (6.1%) $356,307 (-0.8%) 0.00 83
2018-06-01 $219,900 (12.6%) $351,600 (6.3%) 0.00 82
2018-07-01 $199,900 (4.4%) $352,682 (15.8%) 0.00 88
2018-08-01 $197,450 (3.7%) $309,604 (1.8%) 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 $227,607 (2.3%) $355,155 (1.1%) 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 (-1.2%) $357,473 (0.7%) 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%) $348,272 (3.5%) 0.00 80
2020-08-01 $236,200 (12.8%) $364,478 (10.4%) 0.00 80
2020-09-01 $244,900 (9.6%) $373,884 (10.9%) 0.00 85
2020-10-01 $255,730 (9.8%) $383,168 (12.1%) 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 $247,475 (12.5%) $452,062 (34.4%) 0.00 67
2021-03-01 $251,175 (12.9%) $465,895 (37.0%) 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 $281,450 (25.1%) $512,717 (43.1%) 0.00 49
2021-07-01 $290,000 (13.7%) $453,611 (30.3%) 0.00 59
2021-08-01 $313,350 (32.7%) $494,910 (35.8%) 0.00 71
2021-09-01 $327,000 (33.5%) $511,579 (36.8%) 0.00 75
2021-10-01 $300,000 (17.3%) $478,921 (25.0%) 0.00 89
2021-11-01 $314,750 (25.9%) $458,306 (11.6%) 0.00 91
2021-12-01 $311,250 (24.5%) $457,002 (5.1%) 0.00 97
2022-01-01 $290,000 (16.0%) $467,989 (4.9%) 0.00 94
2022-02-01 $314,000 (26.9%) $543,050 (20.1%) 0.00 77
2022-03-01 $300,005 (19.4%) $562,257 (20.7%) 0.00 68
2022-04-01 $349,000 (31.2%) $504,420 (4.4%) 0.00 72
2022-05-01 $350,000 (25.2%) $517,655 (5.6%) 0.00 66
2022-06-01 $341,000 (21.2%) $489,701 (-4.5%) 0.00 86
2022-07-01 $354,950 (22.4%) $513,698 (13.3%) 0.00 105
2022-08-01 $359,700 (14.8%) $516,614 (4.4%) 0.00 129
2022-09-01 $349,500 (6.9%) $466,478 (-8.8%) 0.00 150
2022-10-01 $349,900 (16.6%) $446,215 (-6.8%) 0.00 159
2022-11-01 $346,725 (10.2%) $448,087 (-2.2%) 0.00 156
2022-12-01 $349,750 (12.4%) $442,231 (-3.2%) 0.00 155
2023-01-01 $341,425 (17.7%) $419,630 (-10.3%) 0.00 167
2023-02-01 $339,900 (8.3%) $399,701 (-26.4%) 0.00 199
2023-03-01 $339,900 (13.3%) $401,446 (-28.6%) 0.00 205
2023-04-01 $342,450 (-1.9%) $419,432 (-16.9%) 0.00 161
2023-05-01 $349,900 (0.0%) $456,905 (-11.7%) 0.00 150
2023-06-01 $349,900 (2.6%) $502,965 (2.7%) 0.00 161
2023-07-01 $350,000 (-1.4%) $499,459 (-2.8%) 0.00 160
2023-08-01 $358,975 (-0.2%) $513,315 (-0.6%) 0.00 163
2023-09-01 $354,900 (1.6%) $497,193 (6.6%) 0.00 169
2023-10-01 $351,675 (0.5%) $498,744 (11.8%) 0.00 184
2023-11-01 $350,825 (1.2%) $485,722 (8.4%) 0.00 200
2023-12-01 $349,900 (0.0%) $472,637 (6.9%) 0.00 203
2024-01-01 $349,900 (2.5%) $479,353 (14.2%) 0.00 220
2024-02-01 $344,925 (1.5%) $465,929 (16.6%) 0.00 234
2024-03-01 $349,000 (2.7%) $474,653 (18.2%) 0.00 227
2024-04-01 $345,450 (0.9%) $440,912 (5.1%) 0.00 236
Clewiston's median listing price for 2024-04-01 was $345,450, a difference of $3,000 (0.9%) versus the prior year and $-3,550 versus the prior month.

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

Clewiston's average listing price for 2024-04-01 was $440,912, a difference of $21,480 (5.1%) versus the prior year and $-33,741 versus the prior month.

For the 2024-04-01 period, Clewiston had 236 MLS listings, a difference of 9 listings (4%) versus the prior month and 75 listings (47%) 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 1,759 sqft
2019-02-01 0 days 1,710 sqft
2019-03-01 0 days 1,702 sqft
2019-04-01 0 days 1,643 sqft
2019-05-01 0 days 1,582 sqft
2019-06-01 0 days 1,614 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 1,707 sqft
2020-05-01 0 days 1,669 sqft
2020-06-01 0 days 1,714 sqft
2020-07-01 0 days 1,746 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 1,723 sqft
2021-01-01 0 days 1,665 sqft
2021-02-01 0 days 1,640 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 1,574 sqft
2021-07-01 0 days 1,535 sqft
2021-08-01 0 days 1,581 sqft
2021-09-01 0 days 1,609 sqft
2021-10-01 0 days 1,546 sqft
2021-11-01 0 days 1,588 sqft
2021-12-01 0 days 1,535 sqft
2022-01-01 0 days 1,440 sqft
2022-02-01 0 days 1,486 sqft
2022-03-01 0 days 1,509 sqft
2022-04-01 0 days 1,535 sqft
2022-05-01 0 days 1,495 sqft
2022-06-01 0 days 1,529 sqft
2022-07-01 0 days 1,573 sqft
2022-08-01 0 days 1,602 sqft
2022-09-01 0 days 1,591 sqft
2022-10-01 0 days 1,600 sqft
2022-11-01 0 days 1,589 sqft
2022-12-01 0 days 1,546 sqft
2023-01-01 0 days 1,536 sqft
2023-02-01 0 days 1,540 sqft
2023-03-01 0 days 1,543 sqft
2023-04-01 0 days 1,550 sqft
2023-05-01 0 days 1,659 sqft
2023-06-01 0 days 1,565 sqft
2023-07-01 0 days 1,598 sqft
2023-08-01 0 days 1,623 sqft
2023-09-01 0 days 1,620 sqft
2023-10-01 0 days 1,622 sqft
2023-11-01 0 days 1,639 sqft
2023-12-01 0 days 1,631 sqft
2024-01-01 0 days 1,639 sqft
2024-02-01 0 days 1,623 sqft
2024-03-01 0 days 1,641 sqft
2024-04-01 0 days 1,642 sqft
Clewiston's median listing age (time on market) for 2024-04-01 was 0 days.

Clewiston's median square footage for active listings during the 2024-04-01 period was 1,642 sqft. One year prior, the average listing was 1,550 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).