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).