Daphne FHA Loan Rates, Closing Costs & Stats
DAPHNE-FAIRHOPE-FOLEY, 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.
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
-0.18%
for the week of 2025-07-04, compared to the national average (all FHA variants) of
0% for the same period.
Daphne's average FHA mortgage closing costs are $7,671.
The average rate for the prior week (2025-06-27) was
6.11% and
one month ago for the week of 2025-05-30, the
average rate was 6.58%.
The average rate one year ago was 6.51%.
For refis of the same type during the week of 2025-07-04, the average rate
was 0.09%.
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 |
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).