Columbia FHA Loan Rates, Closing Costs & Stats

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 6.19% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

    Columbia's average FHA mortgage closing costs are $6,361.

    The average rate for the prior week (2022-11-25) was 6.31% and one month ago for the week of 2022-10-28, the average rate was 6.65%.

    The average rate one year ago was 3.18%.

    For refis of the same type during the week of 2022-12-02, the average rate was 6.22%.

    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/closing costs 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. Closing Costs
    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 MORTGAGE 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
    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
    Flagstar Bank, FSB 4 2.88% $6,654
    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
    SOUTHERN TRUST MORTGAGE, LLC 3 3.04% $4,713
    M&T Bank 3 3.04% $8,813
    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
    ACOPIA, LLC 2 3.13% $8,107
    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
    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
    CALCON MUTUAL MORTGAGE LLC 2 3.94% $9,606
    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 MORTGAGE ($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 $198,625 (5.6%) $250,598 (6.0%) 0.74 3,381
    2018-02-01 $198,250 (8.7%) $252,748 (-4.4%) 0.72 3,337
    2018-03-01 $199,999 (8.9%) $261,231 (14.2%) 0.70 3,392
    2018-04-01 $211,950 (8.2%) $264,853 (7.0%) 0.72 3,449
    2018-05-01 $216,700 (8.8%) $272,273 (8.5%) 0.72 3,407
    2018-06-01 $225,000 (13.1%) $281,576 (12.1%) 0.75 3,426
    2018-07-01 $225,000 (13.1%) $281,518 (11.5%) 0.75 3,586
    2018-08-01 $223,673 (11.9%) $277,281 (9.0%) 0.75 3,531
    2018-09-01 $224,500 (12.9%) $276,271 (9.0%) 0.75 3,476
    2018-10-01 $221,915 (11.0%) $301,304 (19.1%) 0.75 3,463
    2018-11-01 $229,070 (14.9%) $278,419 (10.4%) 0.78 3,363
    2018-12-01 $232,990 (17.1%) $280,484 (12.1%) 0.80 3,174
    2019-01-01 $229,375 (15.5%) $273,978 (9.3%) 0.79 3,058
    2019-02-01 $227,468 (14.7%) $273,564 (8.2%) 0.77 3,085
    2019-03-01 $234,186 (17.1%) $281,176 (7.6%) 0.77 3,049
    2019-04-01 $239,585 (13.0%) $289,206 (9.2%) 0.76 3,009
    2019-05-01 $238,943 (10.3%) $289,990 (6.5%) 0.75 3,028
    2019-06-01 $238,950 (6.2%) $284,073 (0.9%) 0.75 3,082
    2019-07-01 $234,945 (4.4%) $281,447 (0.0%) 0.74 3,146
    2019-08-01 $231,985 (3.7%) $280,782 (1.3%) 0.73 3,150
    2019-09-01 $228,056 (1.6%) $279,725 (1.3%) 0.73 3,111
    2019-10-01 $227,887 (2.7%) $281,504 (-6.6%) 0.74 3,029
    2019-11-01 $227,038 (-0.9%) $282,223 (1.4%) 0.74 2,949
    2019-12-01 $226,993 (-2.6%) $281,891 (0.5%) 0.76 2,851
    2020-01-01 $228,243 (-0.5%) $280,189 (2.3%) 0.76 2,671
    2020-02-01 $233,580 (2.7%) $282,953 (3.4%) 0.76 2,567
    2020-03-01 $239,500 (2.3%) $291,501 (3.7%) 0.75 2,440
    2020-04-01 $242,621 (1.3%) $295,905 (2.3%) 0.76 2,466
    2020-05-01 $247,950 (3.8%) $302,702 (4.4%) 0.75 2,264
    2020-06-01 $249,900 (4.6%) $305,772 (7.6%) 0.74 1,960
    2020-07-01 $250,000 (6.4%) $310,011 (10.2%) 0.72 1,802
    2020-08-01 $252,000 (8.6%) $316,094 (12.6%) 0.72 1,675
    2020-09-01 $249,900 (9.6%) $307,922 (10.1%) 0.72 1,625
    2020-10-01 $244,995 (7.5%) $300,104 (6.6%) 0.70 1,598
    2020-11-01 $249,950 (10.1%) $306,946 (8.8%) 0.73 1,521
    2020-12-01 $250,086 (10.2%) $308,246 (9.4%) 0.74 1,381
    2021-01-01 $249,000 (9.1%) $310,550 (10.8%) 0.74 1,247
    2021-02-01 $249,594 (6.9%) $314,696 (11.2%) 0.73 1,077
    2021-03-01 $250,000 (4.4%) $321,698 (10.4%) 0.71 942
    2021-04-01 $259,000 (6.8%) $331,328 (12.0%) 0.70 848
    2021-05-01 $255,000 (2.8%) $326,827 (8.0%) 0.67 812
    2021-06-01 $249,750 (-0.1%) $319,629 (4.5%) 0.66 880
    2021-07-01 $264,900 (6.0%) $326,364 (5.3%) 0.70 1,068
    2021-08-01 $269,450 (6.9%) $334,745 (5.9%) 0.72 1,169
    2021-09-01 $269,995 (8.0%) $339,327 (10.2%) 0.72 1,197
    2021-10-01 $276,500 (12.9%) $343,459 (14.5%) 0.74 1,235
    2021-11-01 $286,164 (14.5%) $351,586 (14.5%) 0.76 1,107
    2021-12-01 $292,317 (16.9%) $359,640 (16.7%) 0.79 1,045
    2022-01-01 $298,325 (19.8%) $362,764 (16.8%) 0.81 888
    2022-02-01 $297,925 (19.4%) $366,490 (16.5%) 0.77 804
    2022-03-01 $300,000 (20.0%) $359,668 (11.8%) 0.75 805
    2022-04-01 $300,000 (15.8%) $361,603 (9.1%) 0.72 826
    2022-05-01 $307,600 (20.6%) $377,471 (15.5%) 0.70 1,048
    2022-06-01 $315,287 (26.2%) $384,674 (20.4%) 0.70 1,168
    2022-07-01 $319,033 (20.4%) $387,567 (18.8%) 0.72 1,534
    2022-08-01 $318,281 (18.1%) $385,143 (15.1%) 0.74 1,640
    2022-09-01 $308,718 (14.3%) $378,169 (11.5%) 0.72 1,705
    2022-10-01 $305,887 (10.6%) $373,588 (8.8%) 0.72 1,799
    2022-11-01 $300,425 (5.0%) $368,775 (4.9%) 0.72 1,792
    Columbia's median listing price for 2022-11-01 was $300,425, a difference of $14,261 (5.0%) versus the prior year and $-5,462 versus the prior month.

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

    Columbia's average listing price for 2022-11-01 was $368,775, a difference of $17,189 (4.9%) versus the prior year and $-4,813 versus the prior month.

    For the 2022-11-01 period, Columbia had 1,792 MLS listings, a difference of -7 listings (0%) versus the prior month and 685 listings (62%) 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 81 days 2,148 sqft
    2018-02-01 74 days 2,155 sqft
    2018-03-01 60 days 2,200 sqft
    2018-04-01 57 days 2,236 sqft
    2018-05-01 55 days 2,243 sqft
    2018-06-01 57 days 2,276 sqft
    2018-07-01 59 days 2,274 sqft
    2018-08-01 61 days 2,247 sqft
    2018-09-01 67 days 2,231 sqft
    2018-10-01 73 days 2,227 sqft
    2018-11-01 78 days 2,255 sqft
    2018-12-01 85 days 2,266 sqft
    2019-01-01 84 days 2,241 sqft
    2019-02-01 72 days 2,230 sqft
    2019-03-01 64 days 2,248 sqft
    2019-04-01 58 days 2,261 sqft
    2019-05-01 54 days 2,246 sqft
    2019-06-01 54 days 2,253 sqft
    2019-07-01 52 days 2,241 sqft
    2019-08-01 54 days 2,224 sqft
    2019-09-01 56 days 2,217 sqft
    2019-10-01 58 days 2,222 sqft
    2019-11-01 62 days 2,205 sqft
    2019-12-01 71 days 2,200 sqft
    2020-01-01 72 days 2,192 sqft
    2020-02-01 64 days 2,225 sqft
    2020-03-01 50 days 2,241 sqft
    2020-04-01 48 days 2,249 sqft
    2020-05-01 58 days 2,248 sqft
    2020-06-01 53 days 2,248 sqft
    2020-07-01 46 days 2,246 sqft
    2020-08-01 42 days 2,246 sqft
    2020-09-01 39 days 2,235 sqft
    2020-10-01 39 days 2,189 sqft
    2020-11-01 44 days 2,204 sqft
    2020-12-01 47 days 2,204 sqft
    2021-01-01 45 days 2,100 sqft
    2021-02-01 34 days 2,053 sqft
    2021-03-01 23 days 2,020 sqft
    2021-04-01 20 days 2,030 sqft
    2021-05-01 17 days 2,011 sqft
    2021-06-01 16 days 1,969 sqft
    2021-07-01 17 days 2,000 sqft
    2021-08-01 22 days 2,021 sqft
    2021-09-01 26 days 2,040 sqft
    2021-10-01 29 days 2,100 sqft
    2021-11-01 31 days 2,129 sqft
    2021-12-01 38 days 2,169 sqft
    2022-01-01 44 days 2,109 sqft
    2022-02-01 22 days 2,051 sqft
    2022-03-01 18 days 1,998 sqft
    2022-04-01 17 days 1,981 sqft
    2022-05-01 17 days 1,992 sqft
    2022-06-01 23 days 2,070 sqft
    2022-07-01 24 days 2,137 sqft
    2022-08-01 35 days 2,155 sqft
    2022-09-01 38 days 2,130 sqft
    2022-10-01 45 days 2,166 sqft
    2022-11-01 52 days 2,166 sqft
    Columbia's median listing age (time on market) for 2022-11-01 was 52 days. This is 66% longer than the same period one year ago.

    Columbia's median square footage for active listings during the 2022-11-01 period was 2,166 sqft. One year prior, the average listing was 2,129 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).