Columbia FHA Loans

COLUMBIA, SC

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    • 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.

    Columbia's 190 lenders originated 5,236 FHA loans during 2021. The total origination value was $983,690,000, with an average FHA loan value of $187,871.

    Columbia FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Columbia averaged 5.39% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

    The average rate for the prior week (2022-05-06) was 5.12% and one month ago for the week of 2022-04-08, the average rate was 4.88%.

    The average rate one year ago was 2.89%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.01%.

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

    Columbia 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 Columbia level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    GUILD MORTGAGE COMPANY 558 3.12% $7,646
    QUICKEN LOANS, LLC 484 2.76% $5,877
    FREEDOM MORTGAGE CORPORATION 201 2.86% $5,108
    LENDUS, LLC 186 3.30% $7,366
    BROKER SOLUTIONS, INC. 174 3.29% $7,434
    Ameris Bank 160 2.93% $7,162
    MOVEMENT MORTGAGE, LLC 141 3.14% $6,698
    CALIBER HOME LOANS, INC. 126 2.93% $5,970
    MIDLAND MORTGAGE CORPORATION 121 3.17% $6,201
    LAKEVIEW LOAN SERVICING, LLC 112 3.05% $4,271
    Mr. Cooper ( Nationstar Mortgage ) 105 3.33% $3,636
    UNITED WHOLESALE MORTGAGE, LLC 100 2.80% $7,351
    GUARANTEED RATE AFFINITY, LLC 93 3.02% $7,024
    PENNYMAC LOAN SERVICES, LLC 89 3.12% $3,931
    LOANDEPOT.COM, LLC 88 3.63% $7,766
    VANDERBILT MORTGAGE AND FINANCE, INC. 86 3.05% $8,096
    SUCCESS MORTGAGE PARTNERS, INC. 84 3.06% $7,246
    ANGEL OAK HOME LOANS LLC 76 3.10% $7,703
    Carrington Mortgage Services, LLC 63 3.56% $7,505
    RESOURCE FINANCIAL SERVICES, INC. 59 3.10% $7,219
    DHI MORTGAGE COMPANY, LTD. 57 2.72% $7,025
    Lakeview Community Capital, LLC 57 3.08% $4,068
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 57 3.25% $7,063
    PRIMELENDING, A PLAINSCAPITAL COMPANY 50 3.35% $7,517
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 50 3.31% $8,710
    Renasant Bank 48 3.08% $6,491
    First Heritage Mortgage, LLC 47 2.99% $8,187
    BAY EQUITY LLC 47 3.11% $8,350
    VILLAGE CAPITAL & INVESTMENT LLC 44 3.06% $2,127
    TOWNE MORTGAGE COMPANY 41 3.31% $6,010
    Network Funding, L.P. 36 3.26% $6,757
    Assurance Financial Group, L.L.C. 36 3.07% $6,699
    Mortgage Network, Inc. 36 3.07% $6,775
    First Community Bank 32 2.92% $6,145
    AmeriHome Mortgage Company, LLC 32 2.96% $4,657
    NEWREZ LLC 29 2.96% $4,355
    CMG MORTGAGE, INC. 27 2.91% $8,150
    First Palmetto Bank 26 2.83% $6,530
    NTFN, INC. 22 3.17% $7,332
    Citizens Bank 22 2.85% $7,082
    Trustmark National Bank 21 2.78% $5,198
    Hometown Equity Mortgage, LLC 21 4.11% $11,297
    CROSSCOUNTRY MORTGAGE, LLC 20 3.17% $8,606
    CERTAINTY HOME LOANS, LLC 20 3.21% $7,267
    NVR Mortgage Finance, Inc. 19 3.32% $8,293
    AMERICAN FINANCIAL NETWORK, INC. 19 3.05% $9,911
    AMERISAVE MORTGAGE CORPORATION 19 3.09% $8,408
    INTERLINC MORTGAGE SERVICES, LLC 19 3.49% $6,801
    Magnolia Bank 19 2.92% $5,656
    PANORAMA MORTGAGE GROUP, LLC 18 3.28% $8,341
    Equity Prime Mortgage LLC 16 3.44% $5,933
    HOMEOWNERS FINANCIAL GROUP USA, LLC 16 3.12% $8,226
    HOME POINT FINANCIAL CORPORATION 15 2.96% $5,678
    Regions Bank 14 2.74% $7,929
    GUARANTEED RATE, INC. 14 3.27% $7,684
    First-Citizens Bank & Trust Company 13 2.95% $6,134
    NATIONS DIRECT MORTGAGE, LLC 12 3.41% $7,284
    Nations Lending Corporation 12 3.19% $8,463
    First Federal Bank 12 2.93% $8,160
    Paramount Residential Mortgage Group, Inc. 11 3.45% $9,375
    Synovus Bank 11 2.99% $7,157
    South State Bank 10 2.84% $7,053
    Colten Mortgage, LLC 9 3.35% $6,966
    FINANCE OF AMERICA MORTGAGE LLC 9 3.25% $7,609
    SOUTHWEST FUNDING, LP 9 3.72% $8,988
    HOMESTAR FINANCIAL CORPORATION 8 3.31% $6,039
    GENEVA FINANCIAL, LLC 8 3.28% $7,802
    Bank of America 8 2.81% $3,742
    HOMESIDE FINANCIAL, LLC 8 3.23% $7,517
    MORTGAGE SOLUTIONS OF COLORADO, LLC 8 3.23% $7,192
    KELLER MORTGAGE, LLC 7 2.77% $6,025
    AMERICAN FINANCIAL RESOURCES, INC. 7 3.41% $6,436
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 2.80% $6,930
    SUMMIT FUNDING, INC. 6 3.42% $10,427
    MUTUAL OF OMAHA MORTGAGE, INC. 6 3.13% $7,497
    FAMILY FIRST FUNDING LLC 6 3.56% $7,905
    TD Bank 6 2.88% $4,645
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 3.20% $7,237
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.98% $8,878
    Barrington Bank & Trust Company, N.A. 5 3.73% $6,293
    First Guaranty Mortgage Corporation 5 2.93% $6,136
    SUN WEST MORTGAGE COMPANY, INC. 5 3.15% $7,331
    MID AMERICA MORTGAGE, INC. 5 2.98% $4,338
    Southern First Bank 5 2.63% $6,753
    RESIDENTIAL MORTGAGE SERVICES, INC. 5 2.80% $7,513
    RELIANCE FIRST CAPITAL, LLC 5 3.05% $8,252
    OCEANSIDE MORTGAGE COMPANY 5 3.00% $2,204
    First Reliance Bank 5 2.93% $6,772
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 5 3.12% $8,957
    LOANPAL, LLC 4 3.09% $6,750
    1ST SIGNATURE LENDING, LLC 4 3.00% $8,108
    The Federal Savings Bank 4 2.94% $9,134
    AMERICAN FINANCING CORPORATION 4 3.03% $8,620
    Flagstar Bank, FSB 4 2.88% $6,654
    CHURCHILL MORTGAGE CORPORATION 4 3.50% $6,287
    PLANET HOME LENDING, LLC 4 3.00% $5,600
    Mortgage Research Center, LLC 4 3.15% $5,590
    American Security Mortgage Corp. 4 2.97% $8,520
    Servion, Inc. 4 3.16% $7,828
    InterContinental Capital Group, Inc 4 2.94% $5,711
    PLAZA HOME MORTGAGE, INC. 3 3.04% $9,387
    JPMorgan Chase Bank 3 3.16% $3,084
    Wells Fargo Bank 3 3.38% $6,095
    T2 FINANCIAL LLC 3 3.71% $8,025
    LOANLEADERS OF AMERICA, INC. 3 3.17% $11,875
    SOVEREIGN LENDING GROUP INCORPORATED 3 3.33% $7,657
    Manufacturers and Traders Trust Company 3 3.04% $8,813
    SOUTHERN TRUST MORTGAGE, LLC 3 3.04% $4,713
    NATIONWIDE MORTGAGE BANKERS, INC. 3 3.58% $8,772
    PHH Mortgage Corporation 3 3.54% $3,001
    EVERETT FINANCIAL, INC. 3 3.17% $5,681
    INTERCOASTAL MORTGAGE COMPANY 3 3.42% $7,354
    CALCON MUTUAL MORTGAGE LLC 2 3.94% $9,606
    Bank of England 2 3.06% $9,503
    ZILLOW HOME LOANS, LLC 2 2.88% $7,342
    Security Federal Bank 2 2.75% $7,907
    INLAND BANK & TRUST 2 3.44% $6,501
    RUOFF MORTGAGE COMPANY, INC. 2 3.19% $4,672
    Alcova Mortgage LLC 2 3.06% $6,467
    LIBERTY HOME MORTGAGE CORPORATION 2 3.50% $6,237
    North American Savings Bank, F.S.B. 2 3.06% $7,446
    Northpointe Bank 2 3.00% $7,522
    ROSS MORTGAGE CORPORATION 2 2.69% $9,162
    CAROLINA ONE MORTGAGE, LLC 2 3.25% $6,557
    Prosperity Home Mortgage, LLC 2 3.06% $7,362
    POLARIS HOME FUNDING CORP. 2 2.75% $11,068
    Uwharrie Bank 2 3.50% $6,829
    1ST PREFERENCE MORTGAGE CORP. 2 3.56% $9,651
    CONTOUR MORTGAGE CORPORATION 2 2.81% $9,430
    ACOPIA, LLC 2 3.13% $8,107
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 2.69% $8,613
    MORIA DEVELOPMENT, INC. 2 3.31% $7,958
    RAPID MORTGAGE COMPANY 2 3.13% $7,745
    ON Q FINANCIAL, INC. 2 3.13% $7,703
    LAND HOME FINANCIAL SERVICES, INC. 1 3.75% $14,441
    ABSOLUTE HOME MORTGAGE CORPORATION 1 2.63% $10,690
    Allen Tate Mortgage Partners, LLC 1 3.50% $5,967
    AMERICAN HERITAGE FCU 1 3.88% $6,739
    AMERIFIRST FINANCIAL CORPORATION 1 3.00% $7,068
    Amerifirst Financial, Inc. 1 3.00% $3,462
    ARC HOME LLC 1 2.88% $3,391
    AUGUSTA MORTGAGE CO. 1 3.25% $6,717
    Austin Capital Bank SSB 1 4.38% $8,087
    BAYSHORE MORTGAGE FUNDING, LLC 1 3.38% $7,430
    BETTER MORTGAGE CORPORATION 1 2.88% $9,339
    CAPITAL CENTER, L.L.C. 1 2.75% $4,629
    CELEBRITY HOME LOANS, LLC 1 3.25% $11,304
    CHERRY CREEK MORTGAGE, LLC 1 3.75% $7,910
    Colonial Savings, F.A. 1 3.75% $8,464
    CORNERSTONE HOME LENDING, INC. 1 3.63% $12,266
    EMBRACE HOME LOANS, INC. 1 3.13% $7,842
    Encompass Lending Group, LP 1 3.00% $7,626
    Evolve Bank & Trust 1 2.88% $6,645
    FIRST CHOICE MORTGAGE, INC. 1 3.38% $4,766
    FIRST COMMUNITY MORTGAGE, INC. 1 3.25% $7,119
    First Horizon Bank 1 2.63% $7,504
    Florida Capital Bank 1 2.38% $9,520
    Gateway First Bank 1 3.50% $1,860
    GMFS LLC 1 3.25% $8,202
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.63% $11,044
    GSF Mortgage Corporation 1 2.38% $8,337
    GUARANTY HOME MORTGAGE CORPORATION 1 3.00% $4,984
    HAMILTON HOME LOANS, INC. 1 3.50% $8,079
    INSPIRE HOME LOANS INC. 1 2.63% $6,431
    KeyBank 1 3.38% $10,266
    Loan Simple, Inc. 1 3.75% $8,910
    MEMBER ADVANTAGE MORTGAGE, LLC 1 3.50% $6,020
    NFM, INC. 1 4.75% $10,162
    NORWICH COMMERCIAL GROUP, INC. 1 3.13% $16,874
    NP, Inc. 1 2.50% $9,042
    Peoples Bank 1 3.00% $13,756
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.88% $6,228
    SECURITYNATIONAL MORTGAGE COMPANY 1 4.38% $8,809
    Sierra Pacific Mortgage Company, Inc. 1 3.00% $8,796
    SIRVA MORTGAGE, INC. 1 3.00% $8,482
    SOUTHWEST STAGE FUNDING, LLC 1 2.75% $4,385
    SRP Federal Credit Union 1 3.25% $8,212
    SWBC MORTGAGE CORPORATION 1 3.63% $13,903
    THE MORTGAGE FIRM, INC. 1 3.63% $6,068
    The Union Bank Company 1 2.25% $8,212
    TIAA, FSB 1 2.75% $9,658
    Towne Bank 1 2.63% $6,372
    United Bank 1 3.25% $6,049
    United Community Bank 1 3.00% $6,258
    United Fidelity Funding Corp. 1 2.75% $5,314
    UNITED SECURITY FINANCIAL CORP 1 3.38% $13,267
    US MORTGAGE CORPORATION 1 2.75% $2,819
    VERITAS FUNDING, LLC 1 3.25% $11,612
    Wolfe Financial, Inc 1 3.13% $7,387
    Wyndham Capital Mortgage, Inc. 1 3.38% $6,410

    The top Columbia FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 558 FHA loans originated. Their average total fees are $7,646, which is $1,769 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Columbia FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,127), Mr. Cooper ( Nationstar Mortgage ) ($3,636), PENNYMAC LOAN SERVICES, LLC ($3,931), Lakeview Community Capital, LLC ($4,068) and LAKEVIEW LOAN SERVICING, LLC ($4,271).

    The lowest rate Columbia FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (2.72%), Regions Bank (2.74%), QUICKEN LOANS, LLC (2.76%), Trustmark National Bank (2.78%) and UNITED WHOLESALE MORTGAGE, LLC (2.80%).

    Columbia FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    COLUMBIA, SC CALHOUN 2022 $420,680 $538,650 $651,050 $809,150
    COLUMBIA, SC FAIRFIELD 2022 $420,680 $538,650 $651,050 $809,150
    COLUMBIA, SC KERSHAW 2022 $420,680 $538,650 $651,050 $809,150
    COLUMBIA, SC LEXINGTON 2022 $420,680 $538,650 $651,050 $809,150
    COLUMBIA, SC RICHLAND 2022 $420,680 $538,650 $651,050 $809,150
    COLUMBIA, SC SALUDA 2022 $420,680 $538,650 $651,050 $809,150

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Columbia (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 $198,450 (5.5%) $248,447 (5.7%) 0.73 3,391
    2018-02-01 $197,750 (8.4%) $250,266 (-4.6%) 0.71 3,342
    2018-03-01 $199,990 (9.1%) $258,713 (14.0%) 0.69 3,391
    2018-04-01 $210,950 (8.2%) $262,507 (6.6%) 0.71 3,441
    2018-05-01 $215,450 (8.2%) $270,357 (8.5%) 0.72 3,393
    2018-06-01 $225,000 (13.1%) $276,496 (10.7%) 0.75 3,411
    2018-07-01 $224,900 (13.0%) $276,982 (10.2%) 0.75 3,574
    2018-08-01 $220,995 (10.8%) $272,867 (7.8%) 0.74 3,521
    2018-09-01 $222,192 (11.8%) $272,157 (7.7%) 0.74 3,465
    2018-10-01 $220,750 (10.4%) $296,439 (17.2%) 0.74 3,455
    2018-11-01 $226,695 (13.4%) $272,252 (8.7%) 0.76 3,378
    2018-12-01 $229,900 (15.5%) $274,385 (10.5%) 0.79 3,187
    2019-01-01 $228,200 (15.0%) $268,546 (8.1%) 0.79 3,058
    2019-02-01 $226,945 (14.8%) $269,062 (7.5%) 0.76 3,089
    2019-03-01 $234,134 (17.1%) $276,127 (6.7%) 0.76 3,023
    2019-04-01 $239,843 (13.7%) $284,484 (8.4%) 0.76 2,974
    2019-05-01 $239,000 (10.9%) $284,953 (5.4%) 0.74 3,020
    2019-06-01 $239,000 (6.2%) $284,559 (2.9%) 0.74 3,067
    2019-07-01 $234,950 (4.5%) $281,304 (1.6%) 0.73 3,161
    2019-08-01 $232,710 (5.3%) $280,076 (2.6%) 0.73 3,084
    2019-09-01 $229,945 (3.5%) $278,642 (2.4%) 0.73 2,957
    2019-10-01 $227,250 (2.9%) $278,544 (-6.0%) 0.72 3,013
    2019-11-01 $228,000 (0.6%) $279,808 (2.8%) 0.74 2,939
    2019-12-01 $227,188 (-1.2%) $279,069 (1.7%) 0.76 2,823
    2020-01-01 $228,240 (0.0%) $277,050 (3.2%) 0.76 2,632
    2020-02-01 $232,935 (2.6%) $278,901 (3.7%) 0.75 2,533
    2020-03-01 $239,500 (2.3%) $287,698 (4.2%) 0.75 2,376
    2020-04-01 $242,080 (0.9%) $291,562 (2.5%) 0.75 2,423
    2020-05-01 $247,000 (3.4%) $298,988 (4.9%) 0.75 2,206
    2020-06-01 $249,450 (4.4%) $300,869 (5.7%) 0.73 1,905
    2020-07-01 $249,950 (6.4%) $304,497 (8.2%) 0.72 1,755
    2020-08-01 $250,000 (7.4%) $309,396 (10.5%) 0.71 1,623
    2020-09-01 $249,900 (8.7%) $303,892 (9.1%) 0.71 1,575
    2020-10-01 $244,990 (7.8%) $295,854 (6.2%) 0.70 1,549
    2020-11-01 $249,900 (9.6%) $301,054 (7.6%) 0.72 1,481
    2020-12-01 $249,945 (10.0%) $301,164 (7.9%) 0.73 1,355
    2021-01-01 $247,889 (8.6%) $302,994 (9.4%) 0.73 1,210
    2021-02-01 $249,595 (7.2%) $305,268 (9.5%) 0.72 1,051
    2021-03-01 $251,042 (4.8%) $313,746 (9.1%) 0.70 900
    2021-04-01 $262,650 (8.5%) $324,662 (11.4%) 0.71 805
    2021-05-01 $256,900 (4.0%) $320,652 (7.3%) 0.68 770
    2021-06-01 $254,900 (2.2%) $318,235 (5.8%) 0.66 840
    2021-07-01 $262,500 (5.0%) $325,587 (6.9%) 0.68 995
    2021-08-01 $271,245 (8.5%) $333,236 (7.7%) 0.71 1,148
    2021-09-01 $274,950 (10.0%) $342,313 (12.6%) 0.72 1,184
    2021-10-01 $279,900 (14.3%) $344,233 (16.4%) 0.74 1,225
    2021-11-01 $289,925 (16.0%) $351,777 (16.9%) 0.76 1,123
    2021-12-01 $296,000 (18.4%) $357,909 (18.8%) 0.79 1,083
    2022-01-01 $299,900 (21.0%) $362,473 (19.6%) 0.80 921
    2022-02-01 $300,110 (20.2%) $364,732 (19.5%) 0.76 818
    2022-03-01 $303,900 (21.1%) $358,293 (14.2%) 0.75 809
    2022-04-01 $305,900 (16.5%) $363,784 (12.1%) 0.72 813
    Columbia's median listing price for 2022-04-01 was $305,900, a difference of $43,250 (16.5%) versus the prior year and $2,000 versus the prior month.

    Columbia's median listing price comes in at 72% of the national average.

    Columbia's average listing price for 2022-04-01 was $363,784, a difference of $39,122 (12.1%) versus the prior year and $5,491 versus the prior month.

    For the 2022-04-01 period, Columbia had 813 MLS listings, a difference of 4 listings (0%) versus the prior month and 8 listings (1%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Columbia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 79 days 2,150 sqft
    2018-02-01 73 days 2,155 sqft
    2018-03-01 59 days 2,206 sqft
    2018-04-01 56 days 2,239 sqft
    2018-05-01 54 days 2,246 sqft
    2018-06-01 56 days 2,278 sqft
    2018-07-01 58 days 2,277 sqft
    2018-08-01 60 days 2,247 sqft
    2018-09-01 66 days 2,227 sqft
    2018-10-01 72 days 2,228 sqft
    2018-11-01 77 days 2,249 sqft
    2018-12-01 83 days 2,261 sqft
    2019-01-01 83 days 2,241 sqft
    2019-02-01 71 days 2,233 sqft
    2019-03-01 58 days 2,246 sqft
    2019-04-01 56 days 2,257 sqft
    2019-05-01 54 days 2,246 sqft
    2019-06-01 53 days 2,254 sqft
    2019-07-01 51 days 2,241 sqft
    2019-08-01 56 days 2,229 sqft
    2019-09-01 57 days 2,230 sqft
    2019-10-01 57 days 2,216 sqft
    2019-11-01 60 days 2,213 sqft
    2019-12-01 69 days 2,205 sqft
    2020-01-01 70 days 2,200 sqft
    2020-02-01 60 days 2,225 sqft
    2020-03-01 50 days 2,241 sqft
    2020-04-01 46 days 2,249 sqft
    2020-05-01 55 days 2,250 sqft
    2020-06-01 51 days 2,251 sqft
    2020-07-01 46 days 2,247 sqft
    2020-08-01 41 days 2,246 sqft
    2020-09-01 39 days 2,236 sqft
    2020-10-01 37 days 2,197 sqft
    2020-11-01 43 days 2,220 sqft
    2020-12-01 45 days 2,207 sqft
    2021-01-01 43 days 2,120 sqft
    2021-02-01 33 days 2,065 sqft
    2021-03-01 24 days 2,037 sqft
    2021-04-01 21 days 2,049 sqft
    2021-05-01 19 days 2,017 sqft
    2021-06-01 16 days 1,988 sqft
    2021-07-01 18 days 2,016 sqft
    2021-08-01 22 days 2,054 sqft
    2021-09-01 26 days 2,076 sqft
    2021-10-01 29 days 2,125 sqft
    2021-11-01 33 days 2,172 sqft
    2021-12-01 39 days 2,199 sqft
    2022-01-01 44 days 2,168 sqft
    2022-02-01 27 days 2,080 sqft
    2022-03-01 21 days 2,015 sqft
    2022-04-01 18 days 2,000 sqft
    Columbia's median listing age (time on market) for 2022-04-01 was 18 days. This is -12% shorter than the same period one year ago.

    Columbia's median square footage for active listings during the 2022-04-01 period was 2,000 sqft. One year prior, the average listing was 2,049 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).