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 191 lenders originated 3,419 FHA loans during 2022. The total origination value was $803,295,000, with an average FHA loan value of $234,950.

    Columbia FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Columbia averaged -0.3% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

    Columbia's average FHA mortgage closing costs are $6,888.

    The average rate for the prior week (2023-11-17) was 6.7% and one month ago for the week of 2023-10-20, the average rate was 6.8%.

    The average rate one year ago was 6.33%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.67%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 299 4.55% $8,876
    GUILD MORTGAGE COMPANY 294 5.02% $9,724
    UNITED WHOLESALE MORTGAGE, LLC 153 4.95% $9,051
    VANDERBILT MORTGAGE AND FINANCE, INC. 133 4.90% $10,609
    Ameris Bank 115 4.79% $9,034
    CROSSCOUNTRY MORTGAGE, LLC 109 5.74% $10,793
    MOVEMENT MORTGAGE, LLC 106 5.08% $8,544
    First Heritage Mortgage, LLC 103 5.18% $11,087
    FREEDOM MORTGAGE CORPORATION 103 4.91% $8,906
    BROKER SOLUTIONS, INC. 101 5.13% $9,739
    LOANDEPOT.COM, LLC 95 5.23% $9,129
    CALIBER HOME LOANS, INC. 81 4.51% $8,658
    DHI MORTGAGE COMPANY, LTD. 63 3.83% $7,879
    PENNYMAC LOAN SERVICES, LLC 56 4.33% $8,516
    GUARANTEED RATE AFFINITY, LLC 55 4.93% $9,246
    Carrington Mortgage Services, LLC 53 5.19% $11,463
    CARDINAL FINANCIAL 51 5.00% $10,424
    Mr. Cooper ( Nationstar Mortgage ) 46 4.77% $9,563
    First Palmetto Bank 44 4.92% $8,717
    RESOURCE FINANCIAL SERVICES, INC. 40 5.29% $8,849
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 39 5.21% $8,728
    LAKEVIEW LOAN SERVICING, LLC 37 4.47% $7,156
    PRIMELENDING, A PLAINSCAPITAL COMPANY 36 5.09% $10,068
    Network Funding, L.P. 36 5.57% $10,072
    SUCCESS MORTGAGE PARTNERS, INC. 33 4.60% $10,235
    AMERISAVE MORTGAGE CORPORATION 33 4.68% $9,985
    TOWNE MORTGAGE COMPANY 33 4.97% $7,232
    Renasant Bank 28 5.18% $9,704
    GUARANTEED RATE, INC. 27 5.04% $9,023
    MIDLAND MORTGAGE CORPORATION 24 4.91% $8,455
    NVR Mortgage Finance, Inc. 22 4.62% $10,850
    FBC MORTGAGE, LLC 21 5.52% $10,440
    Assurance Financial Group, L.L.C. 20 5.09% $9,705
    Paramount Residential Mortgage Group, Inc. 19 5.28% $9,704
    First Community Bank 19 5.17% $9,144
    THRIVE MORTGAGE, LLC 18 6.05% $9,591
    Nations Lending Corporation 18 5.42% $10,430
    Flagstar Bank, FSB 16 5.09% $7,916
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 15 4.93% $10,662
    NEWREZ LLC 15 5.16% $8,014
    BAY EQUITY LLC 15 5.15% $10,833
    NTFN, INC. 15 4.85% $9,058
    Mortgage Network, Inc. 14 5.19% $7,916
    AMERICAN FINANCING CORPORATION 14 4.55% $8,801
    Equity Prime Mortgage LLC 13 5.53% $9,727
    HOMEOWNERS FINANCIAL GROUP USA, LLC 13 4.77% $9,748
    Lakeview Community Capital, LLC 13 4.90% $7,076
    RELIANCE FIRST CAPITAL, LLC 12 5.23% $8,159
    GENEVA FINANCIAL, LLC 11 5.33% $9,309
    MUTUAL OF OMAHA MORTGAGE, INC. 11 5.20% $13,390
    HOMESIDE FINANCIAL, LLC 11 5.60% $9,280
    CERTAINTY HOME LOANS, LLC 11 4.75% $9,723
    Synovus Bank 11 5.42% $7,526
    SUN WEST MORTGAGE COMPANY, INC. 10 4.13% $10,275
    INTERLINC MORTGAGE SERVICES, LLC 10 5.38% $10,216
    Mortgage Research Center, LLC 10 5.49% $7,824
    SOUTHWEST FUNDING, LP 10 5.63% $10,401
    Hometown Lenders, Inc. 9 5.64% $11,987
    EVERETT FINANCIAL, INC. 9 5.42% $5,751
    HOME POINT FINANCIAL CORPORATION 9 4.76% $9,980
    MORTGAGE SOLUTIONS OF COLORADO, LLC 9 5.26% $11,075
    EAGLE HOME MORTGAGE, LLC 9 5.78% $13,498
    AMERICAN FINANCIAL RESOURCES, INC. 8 5.59% $8,702
    LOANPAL, LLC 8 5.01% $10,035
    Bank of America 8 4.02% $4,589
    HOMEBRIDGE FINANCIAL SERVICES, INC. 7 4.86% $9,122
    First-Citizens Bank & Trust Company 7 4.93% $7,269
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 7 5.25% $10,055
    TD Bank 7 4.48% $7,985
    PANORAMA MORTGAGE GROUP, LLC 6 4.67% $10,240
    VILLAGE CAPITAL MORTGAGE 6 3.94% $6,820
    Wells Fargo Bank 6 4.56% $4,941
    CMG MORTGAGE, INC. 6 5.81% $14,584
    HOMESTAR FINANCIAL CORPORATION 5 4.85% $7,014
    Trustmark National Bank 5 4.53% $6,437
    INTERCOASTAL MORTGAGE COMPANY 5 4.20% $8,533
    Citizens Bank 5 4.60% $9,415
    CHURCHILL MORTGAGE CORPORATION 5 4.25% $9,448
    CHERRY CREEK MORTGAGE, LLC 5 4.90% $5,381
    South State Bank 5 5.33% $8,950
    Wyndham Capital Mortgage, Inc. 5 4.58% $8,865
    NFM, INC. 5 5.55% $9,114
    CALCON MUTUAL MORTGAGE LLC 5 4.88% $12,817
    PLAZA HOME MORTGAGE, INC. 5 5.23% $10,934
    CORNERSTONE HOME LENDING, INC. 4 5.25% $8,856
    First Reliance Bank 4 4.19% $7,905
    Gateway First Bank 4 5.81% $9,475
    Texana Bank 4 4.22% $10,486
    TOTAL MORTGAGE SERVICES, LLC 4 5.94% $10,823
    Truist 4 4.45% $6,983
    PLANET HOME LENDING, LLC 4 4.47% $7,311
    UNION HOME MORTGAGE CORP. 4 6.78% $11,921
    LIBERTY HOME MORTGAGE CORPORATION 4 5.91% $17,168
    Magnolia Bank 4 6.47% $8,994
    MCLEAN MORTGAGE CORPORATION 4 4.66% $9,491
    SUMMIT FUNDING, INC. 4 5.59% $9,684
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 5.83% $10,673
    First Guaranty Mortgage Corporation 3 4.00% $7,692
    NATIONS DIRECT MORTGAGE, LLC 3 4.38% $8,095
    Northpointe Bank 3 4.29% $9,746
    FINANCE OF AMERICA MORTGAGE LLC 3 5.00% $12,807
    Hometown Equity Mortgage, LLC 3 4.25% $11,429
    EMBRACE HOME LOANS, INC. 3 5.38% $10,745
    ACOPIA, LLC 3 5.75% $10,405
    CONTOUR MORTGAGE CORPORATION 3 5.33% $11,196
    Regions Bank 3 4.29% $7,802
    ANGEL OAK HOME LOANS LLC 3 4.38% $11,419
    RESIDENTIAL BANCORP 2 3.00% $10,403
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 4.25% $8,832
    AmeriHome Mortgage Company, LLC 2 5.81% $10,173
    CAPITAL CENTER, L.L.C. 2 4.31% $7,129
    CAROLINA ONE MORTGAGE, LLC 2 4.25% $11,556
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 4.13% $9,833
    Colten Mortgage, LLC 2 3.69% $7,224
    First Federal Bank 2 4.56% $12,818
    First Horizon Bank 2 4.94% $8,212
    GoPrime Mortgage, Inc. 2 6.44% $9,035
    KELLER MORTGAGE, LLC 2 5.25% $7,390
    M&T Bank 2 5.50% $9,064
    NEW DAY FINANCIAL, LLC 2 5.31% $12,434
    OPEN MORTGAGE, LLC 2 4.63% $6,650
    PENTAGON FEDERAL CREDIT UNION 2 4.81% $6,917
    PNC Bank 2 5.06% $6,329
    POLARIS HOME FUNDING CORP. 2 5.44% $10,119
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 5.31% $10,790
    Prosperity Home Mortgage, LLC 2 5.06% $10,615
    Security Federal Bank 2 4.38% $6,643
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 6.19% $14,494
    The Federal Savings Bank 2 5.75% $9,953
    UNITED MORTGAGE CORP 2 4.50% $10,858
    Uwharrie Bank 2 5.38% $6,984
    VERITAS FUNDING, LLC 2 3.94% $13,114
    Ixonia Bank 1 4.75% $5,549
    U.S. Bank 1 6.75% $13,287
    ACADEMY MORTGAGE CORPORATION 1 4.50% $13,095
    PREMIA MORTGAGE, LLC 1 4.75% $8,350
    American Security Mortgage Corp. 1 3.13% $9,587
    INTERCAP LENDING INC. 1 4.38% $11,797
    ZILLOW HOME LOANS, LLC 1 6.00% $8,110
    Queensborough National Bank & Trust Company 1 5.13% $10,596
    INLANTA MORTGAGE, INC. 1 3.00% $5,816
    GUARANTY HOME MORTGAGE CORPORATION 1 6.25% $5,603
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.13% $9,509
    First Internet Bank of Indiana 1 3.99% $5,396
    1ST PREFERENCE MORTGAGE CORP. 1 4.75% $16,169
    RESIDENTIAL HOME FUNDING CORP. 1 5.38% $11,970
    FIRST HOME MORTGAGE CORPORATION 1 4.25% $8,780
    RUOFF MORTGAGE COMPANY, INC. 1 3.75% $4,632
    SeaTrust Mortgage Company 1 5.50% $10,386
    Alpha Mortgage Corporation 1 5.00% $13,685
    SECURITYNATIONAL MORTGAGE COMPANY 1 4.25% $5,661
    Servion, Inc. 1 5.50% $10,723
    Sierra Pacific Mortgage Company, Inc. 1 3.50% $10,954
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 5.63% $8,622
    Alcova Mortgage LLC 1 4.38% $6,758
    FIRST COMMUNITY MORTGAGE, INC. 1 5.13% $6,803
    EMM LOANS LLC 1 6.13% $10,663
    STOCKTON MORTGAGE CORPORATION 1 5.25% $10,420
    DATA MORTGAGE, INC. 1 4.63% $9,624
    Cornerstone First Mortgage, Inc 1 5.63% $13,516
    Century Mortgage Company DBA Century Lending Company 1 5.00% $9,711
    Blue Ridge Bank 1 6.63% $12,529
    T2 FINANCIAL LLC 1 7.00% $12,038
    BETTER MORTGAGE CORPORATION 1 3.63% $6,624
    Bethpage Federal Credit Union 1 6.75% $3,958
    Willamette Valley Bank 1 4.25% $8,843
    THE MORTGAGE FIRM, INC. 1 3.50% $10,202
    BEST CAPITAL FUNDING 1 5.25% $8,671
    TJC Mortgage, Inc. 1 5.75% $10,193
    TOP FLITE FINANCIAL, INC. 1 7.13% $12,379
    Bell Bank 1 4.63% $14,060
    Towne Bank 1 3.63% $5,083
    BAYSHORE MORTGAGE FUNDING, LLC 1 5.75% $10,342
    BANKSOUTH MORTGAGE COMPANY, LLC 1 3.13% $9,005
    Austin Capital Bank SSB 1 5.25% $11,038
    Armed Forces Bank 1 5.63% $6,337
    Union Savings Bank 1 5.25% $6,958
    United Community Bank 1 3.25% $5,643
    United Fidelity Funding Corp. 1 5.25% $12,278
    NBKC BANK 1 5.00% $7,696
    MORIA DEVELOPMENT, INC. 1 4.13% $6,991
    MEMBER ADVANTAGE MORTGAGE, LLC 1 3.88% $8,972
    OCEANSIDE MORTGAGE COMPANY 1 3.88% $7,649
    Wolfe Financial, Inc 1 5.13% $7,490
    LEADERONE FINANCIAL CORPORATION 1 4.75% $11,079
    LAND HOME FINANCIAL SERVICES, INC. 1 4.75% $10,308
    LADERA LENDING, INC. 1 5.00% $10,346
    Amerifirst Financial, Inc. 1 6.13% $3,737
    Peoples Bank 1 4.50% $8,079
    JPMorgan Chase Bank 1 5.75% $3,159
    Platinum Home Mortgage Corporation 1 5.63% $11,009

    The top Columbia FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 299 FHA loans originated. Their average total fees are $8,876, which is $848 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Columbia FHA lenders (with over 10 loans originated) are Lakeview Community Capital, LLC ($7,076), LAKEVIEW LOAN SERVICING, LLC ($7,156), TOWNE MORTGAGE COMPANY ($7,232), Synovus Bank ($7,526) and Mortgage Research Center, LLC ($7,824).

    The lowest rate Columbia FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (3.83%), SUN WEST MORTGAGE COMPANY, INC. (4.13%), PENNYMAC LOAN SERVICES, LLC (4.33%), LAKEVIEW LOAN SERVICING, LLC (4.47%) and CALIBER HOME LOANS, INC. (4.51%).

    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
    COLUMBIA, SC CALHOUN 2023 $472,030 $604,400 $730,525 $907,900
    COLUMBIA, SC FAIRFIELD 2023 $472,030 $604,400 $730,525 $907,900
    COLUMBIA, SC KERSHAW 2023 $472,030 $604,400 $730,525 $907,900
    COLUMBIA, SC LEXINGTON 2023 $472,030 $604,400 $730,525 $907,900
    COLUMBIA, SC RICHLAND 2023 $472,030 $604,400 $730,525 $907,900
    COLUMBIA, SC SALUDA 2023 $472,030 $604,400 $730,525 $907,900

    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 $199,000 (5.3%) $250,706 (6.1%) 0.74 3,399
    2018-02-01 $198,725 (8.9%) $252,771 (-4.2%) 0.72 3,356
    2018-03-01 $200,000 (8.4%) $261,167 (14.1%) 0.70 3,411
    2018-04-01 $212,000 (7.7%) $264,775 (7.0%) 0.72 3,467
    2018-05-01 $217,495 (9.1%) $272,174 (8.5%) 0.73 3,422
    2018-06-01 $225,577 (13.2%) $281,465 (12.0%) 0.75 3,439
    2018-07-01 $225,000 (12.8%) $281,386 (11.5%) 0.75 3,596
    2018-08-01 $224,209 (12.2%) $277,225 (9.0%) 0.75 3,536
    2018-09-01 $224,900 (13.0%) $276,217 (9.0%) 0.76 3,480
    2018-10-01 $222,376 (11.2%) $301,206 (19.1%) 0.75 3,469
    2018-11-01 $229,500 (14.9%) $278,387 (10.4%) 0.78 3,370
    2018-12-01 $232,990 (17.0%) $280,391 (12.1%) 0.80 3,180
    2019-01-01 $229,375 (15.3%) $273,860 (9.2%) 0.79 3,067
    2019-02-01 $228,475 (15.0%) $273,600 (8.2%) 0.77 3,095
    2019-03-01 $234,186 (17.1%) $281,214 (7.7%) 0.77 3,056
    2019-04-01 $239,900 (13.2%) $289,282 (9.3%) 0.76 3,014
    2019-05-01 $239,000 (9.9%) $290,151 (6.6%) 0.75 3,030
    2019-06-01 $239,000 (6.0%) $284,375 (1.0%) 0.75 3,084
    2019-07-01 $234,950 (4.4%) $281,812 (0.2%) 0.74 3,144
    2019-08-01 $232,200 (3.6%) $281,161 (1.4%) 0.74 3,149
    2019-09-01 $228,150 (1.5%) $280,126 (1.4%) 0.73 3,110
    2019-10-01 $227,900 (2.5%) $281,930 (-6.4%) 0.74 3,029
    2019-11-01 $228,376 (-0.5%) $282,658 (1.5%) 0.75 2,951
    2019-12-01 $227,760 (-2.2%) $282,361 (0.7%) 0.76 2,853
    2020-01-01 $228,993 (-0.2%) $280,631 (2.5%) 0.77 2,672
    2020-02-01 $234,087 (2.5%) $283,414 (3.6%) 0.77 2,564
    2020-03-01 $239,606 (2.3%) $291,917 (3.8%) 0.75 2,437
    2020-04-01 $243,616 (1.6%) $296,196 (2.4%) 0.76 2,467
    2020-05-01 $248,500 (4.0%) $303,092 (4.5%) 0.76 2,260
    2020-06-01 $249,900 (4.6%) $306,251 (7.7%) 0.74 1,955
    2020-07-01 $250,000 (6.4%) $310,621 (10.2%) 0.72 1,794
    2020-08-01 $253,925 (9.4%) $316,612 (12.6%) 0.73 1,674
    2020-09-01 $249,950 (9.6%) $308,258 (10.0%) 0.72 1,628
    2020-10-01 $245,000 (7.5%) $300,419 (6.6%) 0.70 1,601
    2020-11-01 $249,927 (9.4%) $306,955 (8.6%) 0.73 1,533
    2020-12-01 $250,086 (9.8%) $308,620 (9.3%) 0.74 1,388
    2021-01-01 $249,200 (8.8%) $310,895 (10.8%) 0.74 1,256
    2021-02-01 $252,545 (7.9%) $314,977 (11.1%) 0.74 1,093
    2021-03-01 $253,175 (5.7%) $322,706 (10.6%) 0.72 953
    2021-04-01 $263,048 (8.0%) $333,023 (12.4%) 0.71 853
    2021-05-01 $259,900 (4.6%) $328,310 (8.3%) 0.69 824
    2021-06-01 $254,925 (2.0%) $321,487 (5.0%) 0.67 884
    2021-07-01 $265,000 (6.0%) $327,998 (5.6%) 0.70 1,067
    2021-08-01 $272,450 (7.3%) $336,598 (6.3%) 0.73 1,192
    2021-09-01 $274,948 (10.0%) $341,248 (10.7%) 0.73 1,218
    2021-10-01 $279,900 (14.2%) $345,371 (15.0%) 0.75 1,259
    2021-11-01 $289,344 (15.8%) $352,095 (14.7%) 0.77 1,130
    2021-12-01 $295,000 (18.0%) $360,227 (16.7%) 0.80 1,064
    2022-01-01 $299,387 (20.1%) $363,773 (17.0%) 0.81 909
    2022-02-01 $300,169 (18.9%) $367,868 (16.8%) 0.78 812
    2022-03-01 $300,332 (18.6%) $361,530 (12.0%) 0.75 806
    2022-04-01 $300,000 (14.1%) $363,649 (9.2%) 0.72 820
    2022-05-01 $305,285 (17.5%) $379,523 (15.6%) 0.70 999
    2022-06-01 $314,300 (23.3%) $387,140 (20.4%) 0.70 1,116
    2022-07-01 $315,600 (19.1%) $389,507 (18.8%) 0.71 1,464
    2022-08-01 $314,890 (15.6%) $387,629 (15.2%) 0.73 1,560
    2022-09-01 $304,487 (10.7%) $380,456 (11.5%) 0.71 1,618
    2022-10-01 $301,748 (7.8%) $376,293 (9.0%) 0.71 1,696
    2022-11-01 $299,923 (3.7%) $370,863 (5.3%) 0.72 1,718
    2022-12-01 $296,901 (0.6%) $365,385 (1.4%) 0.73 1,618
    2023-01-01 $298,906 (-0.2%) $358,746 (-1.4%) 0.74 1,505
    2023-02-01 $300,000 (-0.1%) $359,542 (-2.3%) 0.72 1,443
    2023-03-01 $301,876 (0.5%) $367,546 (1.7%) 0.71 1,410
    2023-04-01 $315,000 (5.0%) $383,475 (5.5%) 0.73 1,371
    2023-05-01 $325,374 (6.6%) $390,897 (3.0%) 0.74 1,340
    2023-06-01 $337,239 (7.3%) $407,960 (5.4%) 0.76 1,416
    2023-07-01 $326,156 (3.3%) $393,721 (1.1%) 0.74 1,501
    2023-08-01 $320,000 (1.6%) $385,043 (-0.7%) 0.73 1,604
    2023-09-01 $310,000 (1.8%) $374,580 (-1.5%) 0.72 1,757
    2023-10-01 $304,345 (0.9%) $373,618 (-0.7%) 0.72 1,859
    Columbia's median listing price for 2023-10-01 was $304,345, a difference of $2,597 (0.9%) versus the prior year and $-5,655 versus the prior month.

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

    Columbia's average listing price for 2023-10-01 was $373,618, a difference of $-2,675 (-0.7%) versus the prior year and $-962 versus the prior month.

    For the 2023-10-01 period, Columbia had 1,859 MLS listings, a difference of 102 listings (6%) versus the prior month and 163 listings (10%) 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 76 days 2,153 sqft
    2018-02-01 68 days 2,157 sqft
    2018-03-01 55 days 2,202 sqft
    2018-04-01 52 days 2,237 sqft
    2018-05-01 52 days 2,244 sqft
    2018-06-01 52 days 2,278 sqft
    2018-07-01 54 days 2,275 sqft
    2018-08-01 58 days 2,248 sqft
    2018-09-01 63 days 2,231 sqft
    2018-10-01 67 days 2,227 sqft
    2018-11-01 72 days 2,255 sqft
    2018-12-01 77 days 2,266 sqft
    2019-01-01 77 days 2,241 sqft
    2019-02-01 65 days 2,231 sqft
    2019-03-01 56 days 2,249 sqft
    2019-04-01 53 days 2,263 sqft
    2019-05-01 53 days 2,246 sqft
    2019-06-01 52 days 2,257 sqft
    2019-07-01 50 days 2,241 sqft
    2019-08-01 51 days 2,228 sqft
    2019-09-01 53 days 2,224 sqft
    2019-10-01 56 days 2,228 sqft
    2019-11-01 60 days 2,218 sqft
    2019-12-01 69 days 2,204 sqft
    2020-01-01 71 days 2,200 sqft
    2020-02-01 60 days 2,225 sqft
    2020-03-01 49 days 2,242 sqft
    2020-04-01 46 days 2,250 sqft
    2020-05-01 57 days 2,249 sqft
    2020-06-01 50 days 2,251 sqft
    2020-07-01 44 days 2,249 sqft
    2020-08-01 39 days 2,247 sqft
    2020-09-01 38 days 2,238 sqft
    2020-10-01 37 days 2,196 sqft
    2020-11-01 42 days 2,211 sqft
    2020-12-01 46 days 2,204 sqft
    2021-01-01 43 days 2,142 sqft
    2021-02-01 32 days 2,074 sqft
    2021-03-01 22 days 2,043 sqft
    2021-04-01 18 days 2,046 sqft
    2021-05-01 16 days 2,021 sqft
    2021-06-01 15 days 1,989 sqft
    2021-07-01 17 days 2,013 sqft
    2021-08-01 21 days 2,040 sqft
    2021-09-01 26 days 2,054 sqft
    2021-10-01 28 days 2,109 sqft
    2021-11-01 31 days 2,148 sqft
    2021-12-01 37 days 2,176 sqft
    2022-01-01 42 days 2,136 sqft
    2022-02-01 22 days 2,059 sqft
    2022-03-01 18 days 2,005 sqft
    2022-04-01 16 days 1,983 sqft
    2022-05-01 17 days 1,981 sqft
    2022-06-01 22 days 2,047 sqft
    2022-07-01 23 days 2,100 sqft
    2022-08-01 33 days 2,123 sqft
    2022-09-01 37 days 2,100 sqft
    2022-10-01 43 days 2,145 sqft
    2022-11-01 49 days 2,152 sqft
    2022-12-01 56 days 2,110 sqft
    2023-01-01 51 days 2,150 sqft
    2023-02-01 40 days 2,172 sqft
    2023-03-01 36 days 2,172 sqft
    2023-04-01 35 days 2,205 sqft
    2023-05-01 33 days 2,230 sqft
    2023-06-01 34 days 2,253 sqft
    2023-07-01 35 days 2,197 sqft
    2023-08-01 35 days 2,165 sqft
    2023-09-01 38 days 2,093 sqft
    2023-10-01 41 days 2,075 sqft
    Columbia's median listing age (time on market) for 2023-10-01 was 41 days. This is -4% shorter than the same period one year ago.

    Columbia's median square footage for active listings during the 2023-10-01 period was 2,075 sqft. One year prior, the average listing was 2,145 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).