Daphne FHA Loan Rates, Closing Costs & Stats

DAPHNE-FAIRHOPE-FOLEY, AL

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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.

    Daphne's 124 lenders originated 1,190 FHA loans during 2024. The total origination value was $344,570,000, with an average FHA loan value of $289,555.

    Daphne FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Daphne averaged 6.28% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Daphne's average FHA mortgage closing costs are $7,671.

    The average rate for the prior week (2025-03-28) was 6.18% and one month ago for the week of 2025-02-28, the average rate was 6.36%.

    The average rate one year ago was 6.48%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.25%.

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

    Daphne 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 Daphne level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 362 4.60% $7,415
    QUICKEN LOANS, LLC 66 6.27% $12,181
    UNITED WHOLESALE MORTGAGE, LLC 62 5.97% $13,635
    FirstBank 31 6.27% $9,875
    FREEDOM MORTGAGE CORPORATION 30 6.40% $11,735
    EAGLE HOME MORTGAGE, LLC 24 4.71% $8,212
    GMFS LLC 21 6.33% $8,262
    BROKER SOLUTIONS, INC. 19 6.12% $14,560
    Trustmark National Bank 16 6.27% $9,013
    SWBC MORTGAGE CORPORATION 15 6.38% $8,873
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 6.57% $10,089
    Regions Bank 14 6.33% $8,611
    MOVEMENT MORTGAGE, LLC 14 6.61% $10,577
    Flagstar Bank, FSB 13 6.19% $10,764
    Plains Commerce Bank 13 6.52% $12,345
    NEWREZ LLC 13 5.95% $12,132
    DSLD MORTGAGE, LLC 13 6.19% $6,219
    STOCKTON MORTGAGE CORPORATION 13 6.47% $12,055
    First Federal Bank, A FSB 12 6.09% $9,757
    EMBRACE HOME LOANS, INC. 12 6.33% $11,027
    PENNYMAC LOAN SERVICES, LLC 11 6.16% $9,086
    INSPIRE HOME LOANS INC. 10 4.91% $8,368
    GUILD MORTGAGE COMPANY 9 6.68% $9,761
    BancorpSouth 9 6.29% $8,905
    MID AMERICA MORTGAGE, INC. 9 6.63% $8,610
    Bank of England 9 6.61% $14,382
    Tyndall Federal Credit Union 8 5.78% $8,786
    UNION HOME MORTGAGE CORP. 8 6.30% $12,481
    MUTUAL OF OMAHA MORTGAGE, INC. 8 6.09% $12,466
    CARDINAL FINANCIAL 8 6.16% $11,962
    Equity Prime Mortgage LLC 7 6.45% $13,469
    GUARANTEED RATE, INC. 7 6.60% $12,109
    NATIONS DIRECT MORTGAGE, LLC 7 5.84% $12,183
    Mr. Cooper ( Nationstar Mortgage ) 7 6.41% $16,016
    FBC MORTGAGE, LLC 6 5.07% $7,886
    NORWICH COMMERCIAL GROUP, INC. 6 6.48% $5,808
    TOWNE MORTGAGE COMPANY 6 6.31% $11,766
    Prosperity Home Mortgage, LLC 6 6.42% $9,317
    LAKEVIEW LOAN SERVICING, LLC 5 6.25% $8,364
    Magnolia Bank 5 6.50% $14,625
    NFM, INC. 5 6.48% $12,458
    AMERICAN FINANCING CORPORATION 4 6.03% $13,642
    United Community Bank 4 6.13% $8,407
    VILLAGE CAPITAL MORTGAGE 4 6.69% $3,280
    AmeriHome Mortgage Company, LLC 4 6.56% $8,428
    CMG MORTGAGE, INC. 4 5.94% $13,473
    SUN WEST MORTGAGE COMPANY, INC. 4 6.24% $12,305
    CROSSCOUNTRY MORTGAGE, LLC 4 6.34% $12,596
    Pen Air Federal Credit Union 4 6.72% $8,992
    Princeton Mortgage Corporation 4 6.88% $9,977
    LOANDEPOT.COM, LLC 4 6.40% $15,169
    BankPlus 4 6.16% $8,063
    TJC Mortgage, Inc. 4 6.84% $11,216
    Renasant Bank 3 6.63% $8,004
    S1L, Inc. 3 6.38% $11,703
    FIRST COMMUNITY MORTGAGE, INC. 3 6.88% $10,647
    GENEVA FINANCIAL, LLC 3 6.46% $12,143
    City National Bank of Florida 3 5.62% $7,840
    Nations Lending Corporation 3 7.04% $6,489
    Merchants & Marine Bank 3 6.21% $8,039
    Hancock Whitney Bank 3 6.25% $7,413
    HOMESIDE FINANCIAL, LLC 3 6.29% $14,966
    Paramount Residential Mortgage Group, Inc. 3 6.58% $9,588
    ZILLOW HOME LOANS, LLC 2 6.63% $12,810
    AMERISAVE MORTGAGE CORPORATION 2 6.00% $12,627
    Assurance Financial Group, L.L.C. 2 6.69% $9,987
    CANOPY MORTGAGE, LLC 2 6.43% $16,358
    Carrington Mortgage Services, LLC 2 5.69% $12,301
    Century Mortgage Company DBA Century Lending Company 2 5.94% $8,251
    COMPASS MORTGAGE, INC. 2 6.50% $11,824
    Cornerstone First Mortgage, Inc 2 7.13% $7,991
    EUSTIS AND AMERICAN MORTGAGE COMPANY 2 6.94% $9,719
    FIRST COLONY MORTGAGE CORPORATION 2 6.88% $14,899
    First Option Mortgage, LLC 2 6.88% $14,040
    Hamilton Mortgage Corporation 2 6.13% $9,791
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.56% $4,753
    LOANPAL, LLC 2 6.19% $9,000
    Merchants Bank of Indiana 2 6.69% $9,715
    MILEND, INC. 2 6.06% $15,360
    NBKC BANK 2 6.38% $8,203
    Northpointe Bank 2 6.31% $8,628
    OPEN MORTGAGE, LLC 2 5.56% $15,564
    PLANET HOME LENDING, LLC 2 4.75% $7,345
    PLAZA HOME MORTGAGE, INC. 2 7.69% $6,396
    RELIANCE FIRST CAPITAL, LLC 2 6.50% $13,344
    ROYAL UNITED MORTGAGE LLC 2 6.19% $10,081
    The Loan Store, Inc. 2 5.94% $15,374
    INTERLINC MORTGAGE SERVICES, LLC 1 6.75% $6,098
    Centennial Bank 1 6.63% $6,699
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $7,232
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.25% $11,754
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $9,141
    GUARANTEED RATE AFFINITY, LLC 1 6.13% $6,841
    Goldwater Bank, N.A. 1 6.75% $17,140
    FLAT BRANCH MORTGAGE, INC. 1 6.25% $11,142
    First Horizon Bank 1 5.50% $10,779
    AmRes Corporation 1 6.25% $10,437
    EVERETT FINANCIAL, INC. 1 7.50% $12,865
    Residential Acceptance Corporation 1 7.50% $4,911
    ROSS MORTGAGE CORPORATION 1 6.99% $12,282
    Ameris Bank 1 6.13% $12,788
    RUOFF MORTGAGE COMPANY, INC. 1 6.75% $8,769
    ENDEAVOR CAPITAL, LLC. 1 6.63% $10,212
    SeaTrust Mortgage Company 1 6.13% $9,345
    ServisFirst Bank 1 6.38% $7,011
    SmartBank 1 5.75% $8,811
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.75% $6,104
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 5.50% $17,948
    South State Bank 1 6.25% $8,735
    EMM LOANS LLC 1 5.75% $8,159
    DIRECT MORTGAGE LOANS, LLC 1 7.13% $9,942
    DAS Acquisition Company, LLC 1 6.13% $7,298
    Acre Mortgage and Financial Inc 1 6.63% $16,499
    THE MORTGAGE FIRM, INC. 1 7.25% $7,342
    Consumer First Mortgage, Inc. 1 6.25% $10,736
    TOP FLITE FINANCIAL, INC. 1 6.75% $14,084
    Community Bank of Mississippi 1 5.88% $16,414
    Citizens Bank 1 6.25% $7,416
    Loan Simple, Inc. 1 7.75% $16,539
    CIS Financial Services, Inc. 1 6.38% $9,378
    Legends Bank 1 6.63% $5,337
    Patriot Bank 1 6.75% $7,988
    LEADERONE FINANCIAL CORPORATION 1 6.75% $10,373
    KEESLER 1 5.75% $6,227

    The top Daphne FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 362 FHA loans originated. Their average total fees are $7,415, which is $4,766 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Daphne FHA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($6,219), DHI MORTGAGE COMPANY, LTD. ($7,415), EAGLE HOME MORTGAGE, LLC ($8,212), GMFS LLC ($8,262) and INSPIRE HOME LOANS INC. ($8,368).

    The lowest rate Daphne FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.60%), EAGLE HOME MORTGAGE, LLC (4.71%), INSPIRE HOME LOANS INC. (4.91%), NEWREZ LLC (5.95%) and UNITED WHOLESALE MORTGAGE, LLC (5.97%).

    Daphne FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Daphne (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 $315,000 (5.1%) $421,172 (1.2%) 1.17 2,579
    2018-02-01 $314,950 (3.5%) $420,522 (-0.1%) 1.14 2,650
    2018-03-01 $311,688 (3.1%) $421,472 (-0.8%) 1.09 2,703
    2018-04-01 $329,900 (3.3%) $438,191 (0.4%) 1.12 2,756
    2018-05-01 $336,250 (4.8%) $442,439 (1.6%) 1.12 2,749
    2018-06-01 $339,000 (5.6%) $449,255 (3.9%) 1.13 2,737
    2018-07-01 $337,225 (6.1%) $445,758 (3.1%) 1.13 2,744
    2018-08-01 $330,851 (5.9%) $438,622 (2.5%) 1.11 2,756
    2018-09-01 $330,623 (3.3%) $439,184 (0.5%) 1.11 2,743
    2018-10-01 $330,950 (2.8%) $441,316 (1.2%) 1.12 2,708
    2018-11-01 $329,700 (3.9%) $436,532 (-5.4%) 1.12 2,736
    2018-12-01 $329,000 (4.2%) $435,147 (3.3%) 1.13 2,648
    2019-01-01 $325,253 (3.3%) $431,928 (2.6%) 1.12 2,594
    2019-02-01 $327,000 (3.8%) $426,756 (1.5%) 1.10 2,671
    2019-03-01 $331,443 (6.3%) $438,171 (4.0%) 1.08 2,745
    2019-04-01 $334,850 (1.5%) $450,808 (2.9%) 1.06 2,813
    2019-05-01 $339,900 (1.1%) $456,160 (3.1%) 1.06 2,774
    2019-06-01 $344,000 (1.5%) $456,710 (1.7%) 1.08 2,743
    2019-07-01 $339,925 (0.8%) $446,785 (0.2%) 1.06 2,747
    2019-08-01 $336,286 (1.6%) $441,456 (0.7%) 1.06 2,765
    2019-09-01 $341,215 (3.2%) $446,668 (1.7%) 1.09 2,703
    2019-10-01 $341,977 (3.3%) $448,924 (1.7%) 1.10 2,650
    2019-11-01 $349,900 (6.1%) $460,220 (5.4%) 1.15 2,580
    2019-12-01 $349,000 (6.1%) $463,891 (6.6%) 1.16 2,508
    2020-01-01 $339,975 (4.5%) $458,607 (6.2%) 1.14 2,396
    2020-02-01 $344,546 (5.4%) $458,989 (7.6%) 1.13 2,383
    2020-03-01 $355,958 (7.4%) $474,834 (8.4%) 1.12 2,453
    2020-04-01 $354,900 (6.0%) $469,542 (4.2%) 1.11 2,526
    2020-05-01 $359,900 (5.9%) $482,821 (5.8%) 1.09 2,475
    2020-06-01 $362,450 (5.4%) $491,308 (7.6%) 1.07 2,292
    2020-07-01 $360,063 (5.9%) $504,322 (12.9%) 1.04 2,086
    2020-08-01 $360,000 (7.1%) $513,765 (16.4%) 1.03 1,931
    2020-09-01 $370,500 (8.6%) $522,621 (17.0%) 1.06 1,744
    2020-10-01 $365,000 (6.7%) $528,359 (17.7%) 1.05 1,553
    2020-11-01 $359,975 (2.9%) $541,050 (17.6%) 1.05 1,545
    2020-12-01 $362,294 (3.8%) $535,772 (15.5%) 1.08 1,497
    2021-01-01 $379,289 (11.6%) $557,531 (21.6%) 1.13 1,254
    2021-02-01 $386,870 (12.3%) $561,662 (22.4%) 1.13 1,037
    2021-03-01 $401,508 (12.8%) $603,833 (27.2%) 1.14 820
    2021-04-01 $418,750 (18.0%) $603,653 (28.6%) 1.13 852
    2021-05-01 $449,200 (24.8%) $637,113 (32.0%) 1.19 831
    2021-06-01 $454,647 (25.4%) $651,563 (32.6%) 1.20 887
    2021-07-01 $445,000 (23.6%) $630,245 (25.0%) 1.17 1,078
    2021-08-01 $442,500 (22.9%) $613,050 (19.3%) 1.18 1,197
    2021-09-01 $442,500 (19.4%) $601,393 (15.1%) 1.18 1,279
    2021-10-01 $435,900 (19.4%) $603,498 (14.2%) 1.16 1,293
    2021-11-01 $425,723 (18.3%) $613,865 (13.5%) 1.14 1,222
    2021-12-01 $423,358 (16.9%) $617,499 (15.3%) 1.15 1,105
    2022-01-01 $425,000 (12.1%) $644,508 (15.6%) 1.15 938
    2022-02-01 $450,692 (16.5%) $717,460 (27.7%) 1.17 746
    2022-03-01 $482,127 (20.1%) $775,213 (28.4%) 1.21 705
    2022-04-01 $554,000 (32.3%) $824,138 (36.5%) 1.32 746
    2022-05-01 $549,900 (22.4%) $784,780 (23.2%) 1.26 1,028
    2022-06-01 $549,425 (20.9%) $769,593 (18.1%) 1.22 1,292
    2022-07-01 $539,900 (21.3%) $751,743 (19.3%) 1.22 1,518
    2022-08-01 $534,527 (20.8%) $747,056 (21.9%) 1.24 1,596
    2022-09-01 $527,291 (19.2%) $726,903 (20.9%) 1.23 1,610
    2022-10-01 $499,000 (14.5%) $705,257 (16.9%) 1.17 1,631
    2022-11-01 $495,625 (16.4%) $685,965 (11.8%) 1.19 1,648
    2022-12-01 $489,900 (15.7%) $680,407 (10.2%) 1.21 1,626
    2023-01-01 $483,643 (13.8%) $679,823 (5.5%) 1.20 1,531
    2023-02-01 $496,450 (10.2%) $688,655 (-4.0%) 1.20 1,518
    2023-03-01 $499,450 (3.6%) $702,465 (-9.4%) 1.18 1,499
    2023-04-01 $500,000 (-9.8%) $711,310 (-13.7%) 1.16 1,603
    2023-05-01 $524,975 (-4.5%) $736,959 (-6.1%) 1.19 1,703
    2023-06-01 $527,359 (-4.0%) $736,563 (-4.3%) 1.19 1,715
    2023-07-01 $525,000 (-2.8%) $734,618 (-2.3%) 1.19 1,764
    2023-08-01 $527,000 (-1.4%) $732,057 (-2.0%) 1.21 1,841
    2023-09-01 $543,450 (3.1%) $740,187 (1.8%) 1.27 2,004
    2023-10-01 $546,725 (9.6%) $749,279 (6.2%) 1.29 2,172
    2023-11-01 $531,075 (7.2%) $728,471 (6.2%) 1.26 2,256
    2023-12-01 $531,900 (8.6%) $720,773 (5.9%) 1.30 2,167
    2024-01-01 $531,075 (9.8%) $719,493 (5.8%) 1.30 2,118
    2024-02-01 $525,000 (5.8%) $713,313 (3.6%) 1.26 2,237
    2024-03-01 $499,900 (0.1%) $708,027 (0.8%) 1.18 2,532
    2024-04-01 $501,885 (0.4%) $698,349 (-1.8%) 1.17 2,576
    2024-05-01 $524,900 (0.0%) $712,505 (-3.3%) 1.19 2,595
    2024-06-01 $518,900 (-1.6%) $715,393 (-2.9%) 1.18 2,583
    2024-07-01 $517,450 (-1.4%) $709,351 (-3.4%) 1.18 2,668
    2024-08-01 $509,000 (-3.4%) $706,298 (-3.5%) 1.18 2,752
    2024-09-01 $502,500 (-7.5%) $698,908 (-5.6%) 1.18 2,809
    2024-10-01 $503,000 (-8.0%) $689,856 (-7.9%) 1.18 2,870
    2024-11-01 $499,000 (-6.0%) $682,029 (-6.4%) 1.20 2,840
    2024-12-01 $499,000 (-6.2%) $677,255 (-6.0%) 1.24 2,708
    2025-01-01 $495,000 (-6.8%) $678,480 (-5.7%) 1.24 2,595
    2025-02-01 $495,000 (-5.7%) $684,244 (-4.1%) 1.20 2,739
    2025-03-01 $500,000 (0.0%) $697,427 (-1.5%) 0.00 2,897
    Daphne's median listing price for 2025-03-01 was $500,000, a difference of $100 (0.0%) versus the prior year and $5,000 versus the prior month.

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

    Daphne's average listing price for 2025-03-01 was $697,427, a difference of $-10,600 (-1.5%) versus the prior year and $13,183 versus the prior month.

    For the 2025-03-01 period, Daphne had 2,897 MLS listings, a difference of 158 listings (6%) versus the prior month and 365 listings (14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Daphne (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 99 days 2,024 sqft
    2018-02-01 96 days 2,000 sqft
    2018-03-01 74 days 2,009 sqft
    2018-04-01 68 days 2,016 sqft
    2018-05-01 67 days 2,010 sqft
    2018-06-01 70 days 2,009 sqft
    2018-07-01 73 days 1,971 sqft
    2018-08-01 75 days 1,961 sqft
    2018-09-01 82 days 1,957 sqft
    2018-10-01 87 days 1,950 sqft
    2018-11-01 88 days 1,939 sqft
    2018-12-01 93 days 1,931 sqft
    2019-01-01 96 days 1,931 sqft
    2019-02-01 91 days 1,922 sqft
    2019-03-01 79 days 1,942 sqft
    2019-04-01 68 days 1,955 sqft
    2019-05-01 68 days 1,958 sqft
    2019-06-01 74 days 1,954 sqft
    2019-07-01 76 days 1,950 sqft
    2019-08-01 76 days 1,945 sqft
    2019-09-01 78 days 1,952 sqft
    2019-10-01 80 days 1,957 sqft
    2019-11-01 82 days 1,958 sqft
    2019-12-01 87 days 1,945 sqft
    2020-01-01 89 days 1,940 sqft
    2020-02-01 82 days 1,936 sqft
    2020-03-01 67 days 1,930 sqft
    2020-04-01 69 days 1,903 sqft
    2020-05-01 74 days 1,930 sqft
    2020-06-01 78 days 1,971 sqft
    2020-07-01 70 days 1,980 sqft
    2020-08-01 65 days 1,960 sqft
    2020-09-01 64 days 1,959 sqft
    2020-10-01 66 days 1,958 sqft
    2020-11-01 69 days 1,958 sqft
    2020-12-01 64 days 1,950 sqft
    2021-01-01 71 days 1,963 sqft
    2021-02-01 56 days 1,959 sqft
    2021-03-01 42 days 1,990 sqft
    2021-04-01 34 days 1,949 sqft
    2021-05-01 35 days 1,948 sqft
    2021-06-01 33 days 1,926 sqft
    2021-07-01 30 days 1,891 sqft
    2021-08-01 34 days 1,890 sqft
    2021-09-01 44 days 1,849 sqft
    2021-10-01 52 days 1,833 sqft
    2021-11-01 53 days 1,832 sqft
    2021-12-01 58 days 1,872 sqft
    2022-01-01 58 days 1,915 sqft
    2022-02-01 43 days 2,012 sqft
    2022-03-01 33 days 2,005 sqft
    2022-04-01 26 days 1,980 sqft
    2022-05-01 26 days 1,954 sqft
    2022-06-01 31 days 1,916 sqft
    2022-07-01 44 days 1,878 sqft
    2022-08-01 54 days 1,873 sqft
    2022-09-01 62 days 1,888 sqft
    2022-10-01 68 days 1,884 sqft
    2022-11-01 69 days 1,883 sqft
    2022-12-01 73 days 1,866 sqft
    2023-01-01 81 days 1,879 sqft
    2023-02-01 67 days 1,868 sqft
    2023-03-01 57 days 1,879 sqft
    2023-04-01 51 days 1,873 sqft
    2023-05-01 50 days 1,863 sqft
    2023-06-01 52 days 1,854 sqft
    2023-07-01 56 days 1,839 sqft
    2023-08-01 57 days 1,814 sqft
    2023-09-01 58 days 1,800 sqft
    2023-10-01 62 days 1,822 sqft
    2023-11-01 68 days 1,798 sqft
    2023-12-01 79 days 1,786 sqft
    2024-01-01 87 days 1,787 sqft
    2024-02-01 82 days 1,787 sqft
    2024-03-01 60 days 1,787 sqft
    2024-04-01 60 days 1,787 sqft
    2024-05-01 66 days 1,779 sqft
    2024-06-01 72 days 1,770 sqft
    2024-07-01 77 days 1,765 sqft
    2024-08-01 78 days 1,773 sqft
    2024-09-01 76 days 1,769 sqft
    2024-10-01 78 days 1,766 sqft
    2024-11-01 81 days 1,757 sqft
    2024-12-01 90 days 1,759 sqft
    2025-01-01 93 days 1,737 sqft
    2025-02-01 86 days 1,738 sqft
    2025-03-01 0 days 1,720 sqft
    Daphne's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Daphne's median square footage for active listings during the 2025-03-01 period was 1,720 sqft. One year prior, the average listing was 1,787 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).