Cullman FHA Loan Rates, Closing Costs & Stats

Cullman, AL

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.

Cullman's 64 lenders originated 339 FHA loans during 2024. The total origination value was $75,575,000, with an average FHA loan value of $222,935.

Cullman FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Cullman averaged 6.38% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

Cullman's average FHA mortgage closing costs are $7,136.

The average rate for the prior week (2025-03-28) was 6.38% and one month ago for the week of 2025-02-28, the average rate was 6.56%.

The average rate one year ago was 6.58%.

For refis of the same type during the week of 2025-04-04, the average rate was 6.17%.

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

Cullman 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 Cullman level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
First Federal Bank, A FSB 32 5.97% $13,101
GUILD MORTGAGE COMPANY 32 6.46% $10,033
QUICKEN LOANS, LLC 24 6.40% $9,727
Flagstar Bank, FSB 19 6.43% $8,333
UNITED WHOLESALE MORTGAGE, LLC 19 6.21% $9,786
FREEDOM MORTGAGE CORPORATION 14 6.69% $8,944
STOCKTON MORTGAGE CORPORATION 14 6.75% $10,174
Renasant Bank 11 6.42% $8,638
DHI MORTGAGE COMPANY, LTD. 10 5.11% $6,666
LOANDEPOT.COM, LLC 8 6.36% $8,273
EAGLE HOME MORTGAGE, LLC 7 4.82% $7,362
MORTGAGE INVESTORS GROUP, INC. 6 6.21% $7,232
PENNYMAC LOAN SERVICES, LLC 6 5.71% $9,826
TOWNE MORTGAGE COMPANY 5 5.93% $9,668
MOVEMENT MORTGAGE, LLC 5 6.53% $9,794
Mr. Cooper ( Nationstar Mortgage ) 5 6.45% $13,464
AMERICAN PORTFOLIO MORTGAGE CORPORATION 4 6.69% $11,809
Prosperity Home Mortgage, LLC 3 5.92% $10,441
Ameris Bank 3 6.21% $7,600
Hamilton Mortgage Corporation 3 6.08% $8,074
Synovus Bank 3 6.38% $9,644
LEADERONE FINANCIAL CORPORATION 3 6.38% $13,493
MUTUAL OF OMAHA MORTGAGE, INC. 3 7.08% $13,751
REDSTONE Federal Credit Union 3 6.54% $6,313
United Community Bank 3 6.17% $8,304
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.58% $9,263
FirstBank 2 6.00% $10,216
Carrington Mortgage Services, LLC 2 6.88% $10,331
TJC Mortgage, Inc. 2 6.56% $8,558
Trustmark National Bank 2 6.13% $7,658
Regions Bank 2 5.75% $11,541
Plains Commerce Bank 2 6.25% $14,308
Equity Prime Mortgage LLC 2 6.13% $7,933
ENDEAVOR CAPITAL, LLC. 2 6.25% $10,144
BROKER SOLUTIONS, INC. 2 5.94% $8,451
VILLAGE CAPITAL MORTGAGE 1 6.88% $8,903
AMERICAN FINANCING CORPORATION 1 5.88% $9,252
American Mortgage & Equity Consultants, Inc. 1 7.13% $7,661
AmeriHome Mortgage Company, LLC 1 6.63% $5,274
AMERISAVE MORTGAGE CORPORATION 1 6.25% $11,016
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $5,953
Bank of America 1 6.88% $15,189
Bank of England 1 5.25% $7,956
Consumer First Mortgage, Inc. 1 6.75% $8,599
Cornerstone First Mortgage, Inc 1 6.75% $10,325
EMM LOANS LLC 1 6.25% $10,556
EVERETT FINANCIAL, INC. 1 6.63% $10,880
GMFS LLC 1 5.88% $8,976
GSF Mortgage Corporation 1 8.63% $7,230
ISERVE RESIDENTIAL LENDING, LLC 1 6.00% $27,544
MICHIGAN MUTUAL, INC. 1 7.25% $9,840
MILEND, INC. 1 6.63% $12,954
PHH Mortgage Corporation 1 7.49% $7,529
Pinnacle Bank 1 5.75% $15,525
PLANET HOME LENDING, LLC 1 6.38% $4,665
PLAZA HOME MORTGAGE, INC. 1 7.25% $10,395
SeaTrust Mortgage Company 1 6.49% $8,855
SouthPoint Bank 1 6.25% $4,795
SUN WEST MORTGAGE COMPANY, INC. 1 6.83% $8,844
The Central Trust Bank 1 5.63% $11,855
The Loan Store, Inc. 1 5.63% $5,697
UNION HOME MORTGAGE CORP. 1 7.00% $13,051
Victorian Finance, LLC 1 5.75% $8,348
AMERICAN FINANCIAL RESOURCES, INC. 1 7.13% $8,252

The top Cullman FHA lender as defined by loan originations is First Federal Bank, A FSB, with 32 FHA loans originated. Their average total fees are $13,101, which is $3,068 higher than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Cullman FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($6,666), Flagstar Bank, FSB ($8,333), Renasant Bank ($8,638), FREEDOM MORTGAGE CORPORATION ($8,944) and QUICKEN LOANS, LLC ($9,727).

The lowest rate Cullman FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.11%), First Federal Bank, A FSB (5.97%), UNITED WHOLESALE MORTGAGE, LLC (6.21%), QUICKEN LOANS, LLC (6.40%) and Renasant Bank (6.42%).

Cullman FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
CULLMAN, AL CULLMAN 2022 $420,680 $538,650 $651,050 $809,150
CULLMAN, AL CULLMAN 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Cullman (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 $202,450 (12.1%) $282,025 (9.7%) 0.00 555
2018-02-01 $210,700 (17.1%) $283,009 (9.2%) 0.00 588
2018-03-01 $214,900 (13.3%) $284,391 (7.9%) 0.00 577
2018-04-01 $225,000 (13.7%) $291,264 (8.9%) 0.00 566
2018-05-01 $225,000 (5.6%) $291,603 (4.4%) 0.00 563
2018-06-01 $225,000 (-1.0%) $305,121 (3.5%) 0.00 569
2018-07-01 $229,450 (4.3%) $308,220 (6.0%) 0.00 577
2018-08-01 $233,325 (9.0%) $312,335 (9.4%) 0.00 587
2018-09-01 $232,550 (10.8%) $308,604 (9.4%) 0.00 593
2018-10-01 $225,000 (4.4%) $298,572 (4.9%) 0.00 586
2018-11-01 $214,675 (-1.1%) $291,827 (2.7%) 0.00 586
2018-12-01 $212,000 (1.0%) $286,208 (2.3%) 0.00 547
2019-01-01 $206,950 (2.2%) $295,966 (4.9%) 0.00 527
2019-02-01 $214,450 (1.8%) $308,191 (8.9%) 0.00 528
2019-03-01 $220,193 (2.5%) $320,457 (12.7%) 0.00 535
2019-04-01 $220,943 (-1.8%) $328,539 (12.8%) 0.00 550
2019-05-01 $219,450 (-2.5%) $328,841 (12.8%) 0.00 566
2019-06-01 $220,000 (-2.2%) $334,006 (9.5%) 0.00 556
2019-07-01 $219,900 (-4.2%) $330,739 (7.3%) 0.00 561
2019-08-01 $223,251 (-4.3%) $328,053 (5.0%) 0.00 555
2019-09-01 $228,577 (-1.7%) $326,762 (5.9%) 0.00 558
2019-10-01 $230,718 (2.5%) $325,648 (9.1%) 0.00 559
2019-11-01 $238,228 (11.0%) $326,565 (11.9%) 0.00 554
2019-12-01 $239,675 (13.1%) $329,702 (15.2%) 0.00 529
2020-01-01 $229,900 (11.1%) $327,111 (10.5%) 0.00 494
2020-02-01 $239,900 (11.9%) $331,900 (7.7%) 0.00 487
2020-03-01 $244,183 (10.9%) $336,028 (4.9%) 0.00 492
2020-04-01 $244,283 (10.6%) $337,160 (2.6%) 0.00 476
2020-05-01 $246,150 (12.2%) $332,889 (1.2%) 0.00 432
2020-06-01 $265,900 (20.9%) $340,028 (1.8%) 0.00 355
2020-07-01 $258,950 (17.8%) $345,162 (4.4%) 0.00 317
2020-08-01 $252,450 (13.1%) $351,704 (7.2%) 0.00 286
2020-09-01 $284,900 (24.6%) $368,454 (12.8%) 0.00 253
2020-10-01 $271,450 (17.7%) $366,640 (12.6%) 0.00 236
2020-11-01 $251,175 (5.4%) $346,250 (6.0%) 0.00 236
2020-12-01 $247,400 (3.2%) $338,885 (2.8%) 0.00 226
2021-01-01 $245,000 (6.6%) $349,500 (6.8%) 0.00 190
2021-02-01 $257,800 (7.5%) $373,110 (12.4%) 0.00 190
2021-03-01 $279,450 (14.4%) $390,937 (16.3%) 0.00 184
2021-04-01 $276,925 (13.4%) $389,702 (15.6%) 0.00 183
2021-05-01 $279,900 (13.7%) $410,558 (23.3%) 0.00 164
2021-06-01 $280,554 (5.5%) $399,137 (17.4%) 0.00 171
2021-07-01 $279,900 (8.1%) $395,812 (14.7%) 0.00 209
2021-08-01 $292,450 (15.8%) $401,311 (14.1%) 0.00 232
2021-09-01 $298,225 (4.7%) $397,270 (7.8%) 0.00 246
2021-10-01 $284,900 (5.0%) $405,798 (10.7%) 0.00 253
2021-11-01 $296,608 (18.1%) $429,351 (24.0%) 0.00 241
2021-12-01 $279,950 (13.2%) $423,531 (25.0%) 0.00 207
2022-01-01 $302,043 (23.3%) $439,658 (25.8%) 0.00 175
2022-02-01 $294,000 (14.0%) $460,861 (23.5%) 0.00 172
2022-03-01 $306,632 (9.7%) $495,551 (26.8%) 0.00 180
2022-04-01 $324,795 (17.3%) $494,171 (26.8%) 0.00 210
2022-05-01 $326,515 (16.7%) $502,355 (22.4%) 0.00 240
2022-06-01 $333,890 (19.0%) $512,884 (28.5%) 0.00 287
2022-07-01 $339,900 (21.4%) $520,536 (31.5%) 0.00 296
2022-08-01 $344,615 (17.8%) $521,114 (29.9%) 0.00 307
2022-09-01 $330,031 (10.7%) $487,473 (22.7%) 0.00 324
2022-10-01 $326,995 (14.8%) $483,394 (19.1%) 0.00 339
2022-11-01 $320,245 (8.0%) $478,058 (11.3%) 0.00 335
2022-12-01 $328,030 (17.2%) $494,982 (16.9%) 0.00 369
2023-01-01 $323,185 (7.0%) $467,413 (6.3%) 0.00 329
2023-02-01 $318,246 (8.3%) $459,839 (-0.2%) 0.00 283
2023-03-01 $319,450 (4.2%) $484,707 (-2.2%) 0.00 287
2023-04-01 $322,280 (-0.8%) $519,134 (5.1%) 0.00 287
2023-05-01 $321,781 (-1.5%) $519,279 (3.4%) 0.00 291
2023-06-01 $323,464 (-3.1%) $535,144 (4.3%) 0.00 290
2023-07-01 $299,900 (-11.8%) $518,176 (-0.5%) 0.00 298
2023-08-01 $299,130 (-13.2%) $506,465 (-2.8%) 0.00 322
2023-09-01 $299,900 (-9.1%) $535,915 (9.9%) 0.00 344
2023-10-01 $289,900 (-11.3%) $549,283 (13.6%) 0.00 327
2023-11-01 $272,425 (-14.9%) $508,429 (6.4%) 0.00 373
2023-12-01 $274,900 (-16.2%) $524,674 (6.0%) 0.00 352
2024-01-01 $281,725 (-12.8%) $568,380 (21.6%) 0.00 324
2024-02-01 $292,000 (-8.3%) $592,869 (28.9%) 0.00 304
2024-03-01 $306,550 (-4.0%) $625,557 (29.1%) 0.00 311
2024-04-01 $314,925 (-2.3%) $626,469 (20.7%) 0.00 333
2024-05-01 $334,400 (3.9%) $618,671 (19.1%) 0.00 355
2024-06-01 $329,900 (2.0%) $597,694 (11.7%) 0.00 394
2024-07-01 $329,675 (9.9%) $580,400 (12.0%) 0.00 394
2024-08-01 $323,500 (8.2%) $552,353 (9.1%) 0.00 405
2024-09-01 $323,675 (7.9%) $541,077 (1.0%) 0.00 419
2024-10-01 $320,825 (10.7%) $533,054 (-3.0%) 0.00 418
2024-11-01 $317,708 (16.6%) $529,198 (4.1%) 0.00 413
2024-12-01 $299,000 (8.8%) $503,094 (-4.1%) 0.00 389
2025-01-01 $292,475 (3.8%) $497,393 (-12.5%) 0.00 370
2025-02-01 $294,534 (0.9%) $508,267 (-14.3%) 0.00 376
2025-03-01 $299,900 (-2.2%) $528,737 (-15.5%) 0.00 419
Cullman's median listing price for 2025-03-01 was $299,900, a difference of $-6,650 (-2.2%) versus the prior year and $5,366 versus the prior month.

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

Cullman's average listing price for 2025-03-01 was $528,737, a difference of $-96,820 (-15.5%) versus the prior year and $20,470 versus the prior month.

For the 2025-03-01 period, Cullman had 419 MLS listings, a difference of 43 listings (11%) versus the prior month and 108 listings (35%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Cullman (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,975 sqft
2018-02-01 0 days 1,998 sqft
2018-03-01 0 days 1,996 sqft
2018-04-01 0 days 1,997 sqft
2018-05-01 0 days 2,000 sqft
2018-06-01 0 days 2,000 sqft
2018-07-01 0 days 2,022 sqft
2018-08-01 0 days 2,065 sqft
2018-09-01 0 days 2,002 sqft
2018-10-01 0 days 2,000 sqft
2018-11-01 0 days 2,000 sqft
2018-12-01 0 days 1,975 sqft
2019-01-01 0 days 1,947 sqft
2019-02-01 0 days 1,989 sqft
2019-03-01 0 days 2,009 sqft
2019-04-01 0 days 2,023 sqft
2019-05-01 0 days 2,022 sqft
2019-06-01 0 days 2,013 sqft
2019-07-01 0 days 2,000 sqft
2019-08-01 0 days 1,998 sqft
2019-09-01 0 days 2,009 sqft
2019-10-01 0 days 2,016 sqft
2019-11-01 0 days 2,023 sqft
2019-12-01 0 days 2,038 sqft
2020-01-01 0 days 2,012 sqft
2020-02-01 0 days 2,011 sqft
2020-03-01 0 days 2,112 sqft
2020-04-01 0 days 2,138 sqft
2020-05-01 0 days 2,136 sqft
2020-06-01 0 days 2,165 sqft
2020-07-01 0 days 2,182 sqft
2020-08-01 0 days 2,227 sqft
2020-09-01 0 days 2,309 sqft
2020-10-01 0 days 2,282 sqft
2020-11-01 0 days 2,191 sqft
2020-12-01 0 days 2,110 sqft
2021-01-01 0 days 2,106 sqft
2021-02-01 0 days 1,950 sqft
2021-03-01 0 days 2,014 sqft
2021-04-01 0 days 1,923 sqft
2021-05-01 0 days 2,015 sqft
2021-06-01 0 days 2,024 sqft
2021-07-01 0 days 1,956 sqft
2021-08-01 0 days 2,046 sqft
2021-09-01 0 days 2,074 sqft
2021-10-01 0 days 2,006 sqft
2021-11-01 0 days 2,021 sqft
2021-12-01 0 days 1,918 sqft
2022-01-01 0 days 1,945 sqft
2022-02-01 0 days 1,926 sqft
2022-03-01 0 days 1,983 sqft
2022-04-01 0 days 2,058 sqft
2022-05-01 0 days 2,007 sqft
2022-06-01 0 days 1,996 sqft
2022-07-01 0 days 2,022 sqft
2022-08-01 0 days 2,040 sqft
2022-09-01 0 days 1,957 sqft
2022-10-01 0 days 2,016 sqft
2022-11-01 0 days 1,993 sqft
2022-12-01 0 days 1,990 sqft
2023-01-01 0 days 1,946 sqft
2023-02-01 0 days 1,910 sqft
2023-03-01 0 days 1,940 sqft
2023-04-01 0 days 1,960 sqft
2023-05-01 0 days 1,950 sqft
2023-06-01 0 days 1,928 sqft
2023-07-01 0 days 1,851 sqft
2023-08-01 0 days 1,832 sqft
2023-09-01 0 days 1,832 sqft
2023-10-01 0 days 1,804 sqft
2023-11-01 0 days 1,804 sqft
2023-12-01 0 days 1,809 sqft
2024-01-01 0 days 1,846 sqft
2024-02-01 0 days 1,850 sqft
2024-03-01 0 days 1,883 sqft
2024-04-01 0 days 1,903 sqft
2024-05-01 0 days 1,940 sqft
2024-06-01 0 days 1,952 sqft
2024-07-01 0 days 1,907 sqft
2024-08-01 0 days 1,929 sqft
2024-09-01 0 days 1,929 sqft
2024-10-01 0 days 1,902 sqft
2024-11-01 0 days 1,877 sqft
2024-12-01 0 days 1,882 sqft
2025-01-01 0 days 1,824 sqft
2025-02-01 0 days 1,814 sqft
2025-03-01 0 days 1,842 sqft
Cullman's median listing age (time on market) for 2025-03-01 was 0 days.

Cullman's median square footage for active listings during the 2025-03-01 period was 1,842 sqft. One year prior, the average listing was 1,883 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).