Deridder FHA Loan Rates, Closing Costs & Stats

DeRidder, LA

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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.

    Deridder's 29 lenders originated 84 FHA loans during 2023. The total origination value was $16,440,000, with an average FHA loan value of $195,714.

    Deridder FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Deridder averaged 6.74% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Deridder's average FHA mortgage closing costs are $6,827.

    The average rate for the prior week (2024-04-12) was 7.03% and one month ago for the week of 2024-03-15, the average rate was 6.7%.

    The average rate one year ago was 6.53%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Deridder 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 Deridder level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 21 6.98% $7,563
    EUSTIS AND AMERICAN MORTGAGE COMPANY 8 6.86% $6,771
    QUICKEN LOANS, LLC 7 6.05% $6,682
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 7.12% $6,140
    FREEDOM MORTGAGE CORPORATION 4 7.22% $8,302
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 7.21% $11,644
    FIDELITY BANK 3 6.57% $7,405
    Nations Lending Corporation 3 7.33% $8,015
    GMFS LLC 2 6.69% $9,853
    CARDINAL FINANCIAL 2 6.19% $17,036
    Chickasaw Community Bank 2 6.94% $8,130
    NTFN, INC. 2 6.81% $11,142
    Sabine State Bank and Trust Company 2 6.88% $10,655
    DAS Acquisition Company, LLC 1 7.25% $10,170
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $9,550
    Hancock Whitney Bank 1 5.75% $15,295
    MORTGAGE FINANCIAL SERVICES, LLC 1 5.63% $5,012
    Mr. Cooper ( Nationstar Mortgage ) 1 5.63% $11,207
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $7,793
    NEWREZ LLC 1 7.75% $6,739
    T2 FINANCIAL LLC 1 6.63% $17,830
    PLAZA HOME MORTGAGE, INC. 1 6.25% $3,875
    Barrington Bank & Trust Company, N.A. 1 6.25% $21,093
    RELIANCE FIRST CAPITAL, LLC 1 7.25% $5,228
    Renasant Bank 1 7.13% $8,769
    RESIDENTIAL BANCORP 1 6.75% $19,955
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $8,680
    Equity Prime Mortgage LLC 1 7.63% $6,280
    First Horizon Bank 1 5.25% $18,846

    The top Deridder FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 21 FHA loans originated. Their average total fees are $7,563, which is $792 higher than the next largest lender, EUSTIS AND AMERICAN MORTGAGE COMPANY.

    The lowest fee Deridder FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($7,563), .

    The lowest rate Deridder FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.98%), .

    Deridder FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Deridder (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 $184,250 (2.8%) $189,405 (2.6%) 0.00 204
    2018-02-01 $187,000 (7.5%) $191,215 (4.3%) 0.00 197
    2018-03-01 $180,000 (6.5%) $190,808 (1.4%) 0.00 199
    2018-04-01 $183,125 (2.2%) $193,083 (1.4%) 0.00 211
    2018-05-01 $183,875 (2.4%) $194,372 (-2.7%) 0.00 205
    2018-06-01 $189,000 (4.5%) $195,173 (-4.3%) 0.00 195
    2018-07-01 $189,000 (5.4%) $203,265 (3.5%) 0.00 210
    2018-08-01 $189,000 (3.0%) $204,256 (0.1%) 0.00 219
    2018-09-01 $189,000 (4.1%) $205,454 (-1.8%) 0.00 215
    2018-10-01 $189,900 (5.6%) $207,288 (1.2%) 0.00 195
    2018-11-01 $186,979 (3.9%) $209,878 (4.3%) 0.00 187
    2018-12-01 $188,500 (4.8%) $213,323 (8.0%) 0.00 187
    2019-01-01 $188,350 (2.2%) $211,727 (11.8%) 0.00 175
    2019-02-01 $187,625 (0.3%) $208,187 (8.9%) 0.00 168
    2019-03-01 $189,729 (5.4%) $207,905 (9.0%) 0.00 161
    2019-04-01 $189,629 (3.6%) $207,847 (7.7%) 0.00 159
    2019-05-01 $181,225 (-1.4%) $214,681 (10.5%) 0.00 161
    2019-06-01 $185,000 (-2.1%) $221,407 (13.4%) 0.00 169
    2019-07-01 $180,000 (-4.8%) $214,587 (5.6%) 0.00 165
    2019-08-01 $179,727 (-4.9%) $215,983 (5.7%) 0.00 165
    2019-09-01 $179,318 (-5.1%) $218,068 (6.1%) 0.00 160
    2019-10-01 $178,000 (-6.3%) $220,206 (6.2%) 0.00 151
    2019-11-01 $189,900 (1.6%) $225,968 (7.7%) 0.00 141
    2019-12-01 $193,200 (2.5%) $227,280 (6.5%) 0.00 136
    2020-01-01 $203,425 (8.0%) $235,945 (11.4%) 0.00 135
    2020-02-01 $202,400 (7.9%) $237,138 (13.9%) 0.00 124
    2020-03-01 $203,200 (7.1%) $241,679 (16.3%) 0.00 120
    2020-04-01 $199,975 (5.5%) $235,942 (13.5%) 0.00 128
    2020-05-01 $191,200 (5.5%) $203,507 (-5.2%) 0.00 130
    2020-06-01 $199,750 (8.0%) $210,842 (-4.8%) 0.00 136
    2020-07-01 $193,125 (7.3%) $214,879 (0.1%) 0.00 119
    2020-08-01 $211,000 (17.4%) $231,064 (7.0%) 0.00 111
    2020-09-01 $218,500 (21.9%) $231,129 (6.0%) 0.00 101
    2020-10-01 $189,900 (6.7%) $216,177 (-1.8%) 0.00 84
    2020-11-01 $177,000 (-6.8%) $212,669 (-5.9%) 0.00 74
    2020-12-01 $222,500 (15.2%) $236,337 (4.0%) 0.00 70
    2021-01-01 $209,948 (3.2%) $217,462 (-7.8%) 0.00 56
    2021-02-01 $191,375 (-5.5%) $211,850 (-10.7%) 0.00 56
    2021-03-01 $170,975 (-15.9%) $202,355 (-16.3%) 0.00 48
    2021-04-01 $197,175 (-1.4%) $227,944 (-3.4%) 0.00 47
    2021-05-01 $189,500 (-0.9%) $212,320 (4.3%) 0.00 43
    2021-06-01 $153,350 (-23.2%) $242,782 (15.2%) 0.00 43
    2021-07-01 $175,000 (-9.4%) $295,056 (37.3%) 0.00 46
    2021-08-01 $164,000 (-22.3%) $297,186 (28.6%) 0.00 50
    2021-09-01 $187,500 (-14.2%) $287,617 (24.4%) 0.00 55
    2021-10-01 $171,500 (-9.7%) $289,848 (34.1%) 0.00 52
    2021-11-01 $165,975 (-6.2%) $292,966 (37.8%) 0.00 58
    2021-12-01 $166,475 (-25.2%) $286,879 (21.4%) 0.00 57
    2022-01-01 $187,250 (-10.8%) $285,192 (31.2%) 0.00 53
    2022-02-01 $164,950 (-13.8%) $298,802 (41.0%) 0.00 46
    2022-03-01 $156,175 (-8.7%) $325,521 (60.9%) 0.00 37
    2022-04-01 $195,500 (-0.9%) $343,369 (50.6%) 0.00 36
    2022-05-01 $215,750 (13.9%) $230,323 (8.5%) 0.00 57
    2022-06-01 $204,000 (33.0%) $219,832 (-9.5%) 0.00 64
    2022-07-01 $209,500 (19.7%) $224,679 (-23.9%) 0.00 77
    2022-08-01 $196,000 (19.5%) $217,076 (-27.0%) 0.00 91
    2022-09-01 $195,250 (4.1%) $219,141 (-23.8%) 0.00 92
    2022-10-01 $209,500 (22.2%) $232,697 (-19.7%) 0.00 95
    2022-11-01 $229,500 (38.3%) $255,848 (-12.7%) 0.00 96
    2022-12-01 $239,000 (43.6%) $276,408 (-3.7%) 0.00 90
    2023-01-01 $229,500 (22.6%) $271,421 (-4.8%) 0.00 89
    2023-02-01 $233,750 (41.7%) $265,066 (-11.3%) 0.00 95
    2023-03-01 $243,950 (56.2%) $265,911 (-18.3%) 0.00 86
    2023-04-01 $249,000 (27.4%) $273,504 (-20.4%) 0.00 88
    2023-05-01 $235,000 (8.9%) $249,522 (8.3%) 0.00 100
    2023-06-01 $234,950 (15.2%) $263,481 (19.9%) 0.00 104
    2023-07-01 $234,950 (12.2%) $277,189 (23.4%) 0.00 113
    2023-08-01 $270,340 (37.9%) $316,282 (45.7%) 0.00 122
    2023-09-01 $259,950 (33.1%) $343,352 (56.7%) 0.00 125
    2023-10-01 $275,000 (31.3%) $355,093 (52.6%) 0.00 125
    2023-11-01 $275,500 (20.0%) $359,594 (40.6%) 0.00 127
    2023-12-01 $275,000 (15.1%) $357,955 (29.5%) 0.00 125
    2024-01-01 $265,000 (15.5%) $354,091 (30.5%) 0.00 117
    2024-02-01 $269,000 (15.1%) $351,658 (32.7%) 0.00 117
    2024-03-01 $279,950 (14.8%) $361,771 (36.1%) 0.00 124
    Deridder's median listing price for 2024-03-01 was $279,950, a difference of $36,000 (14.8%) versus the prior year and $10,950 versus the prior month.

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

    Deridder's average listing price for 2024-03-01 was $361,771, a difference of $95,860 (36.1%) versus the prior year and $10,113 versus the prior month.

    For the 2024-03-01 period, Deridder had 124 MLS listings, a difference of 7 listings (6%) versus the prior month and 38 listings (44%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Deridder (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,205 sqft
    2018-02-01 0 days 2,255 sqft
    2018-03-01 0 days 2,202 sqft
    2018-04-01 0 days 2,205 sqft
    2018-05-01 0 days 2,213 sqft
    2018-06-01 0 days 2,266 sqft
    2018-07-01 0 days 2,352 sqft
    2018-08-01 0 days 2,344 sqft
    2018-09-01 0 days 2,408 sqft
    2018-10-01 0 days 2,420 sqft
    2018-11-01 0 days 2,346 sqft
    2018-12-01 0 days 2,354 sqft
    2019-01-01 0 days 2,430 sqft
    2019-02-01 0 days 2,412 sqft
    2019-03-01 0 days 2,414 sqft
    2019-04-01 0 days 2,424 sqft
    2019-05-01 0 days 2,378 sqft
    2019-06-01 0 days 2,358 sqft
    2019-07-01 0 days 2,380 sqft
    2019-08-01 0 days 2,345 sqft
    2019-09-01 0 days 2,280 sqft
    2019-10-01 0 days 2,232 sqft
    2019-11-01 0 days 2,225 sqft
    2019-12-01 0 days 2,300 sqft
    2020-01-01 0 days 2,324 sqft
    2020-02-01 0 days 2,290 sqft
    2020-03-01 0 days 2,129 sqft
    2020-04-01 0 days 1,990 sqft
    2020-05-01 0 days 1,889 sqft
    2020-06-01 0 days 1,913 sqft
    2020-07-01 0 days 1,905 sqft
    2020-08-01 0 days 1,870 sqft
    2020-09-01 0 days 1,847 sqft
    2020-10-01 0 days 1,818 sqft
    2020-11-01 0 days 1,781 sqft
    2020-12-01 0 days 1,888 sqft
    2021-01-01 0 days 1,853 sqft
    2021-02-01 0 days 1,839 sqft
    2021-03-01 0 days 1,842 sqft
    2021-04-01 0 days 1,804 sqft
    2021-05-01 0 days 1,762 sqft
    2021-06-01 0 days 1,634 sqft
    2021-07-01 0 days 1,651 sqft
    2021-08-01 0 days 1,716 sqft
    2021-09-01 0 days 1,726 sqft
    2021-10-01 0 days 1,718 sqft
    2021-11-01 0 days 1,692 sqft
    2021-12-01 0 days 1,692 sqft
    2022-01-01 0 days 1,809 sqft
    2022-02-01 0 days 1,804 sqft
    2022-03-01 0 days 1,858 sqft
    2022-04-01 0 days 1,820 sqft
    2022-05-01 0 days 1,890 sqft
    2022-06-01 0 days 1,735 sqft
    2022-07-01 0 days 1,764 sqft
    2022-08-01 0 days 1,709 sqft
    2022-09-01 0 days 1,679 sqft
    2022-10-01 0 days 1,680 sqft
    2022-11-01 0 days 1,799 sqft
    2022-12-01 0 days 1,840 sqft
    2023-01-01 0 days 1,838 sqft
    2023-02-01 0 days 1,842 sqft
    2023-03-01 0 days 1,834 sqft
    2023-04-01 0 days 1,867 sqft
    2023-05-01 0 days 1,819 sqft
    2023-06-01 0 days 1,838 sqft
    2023-07-01 0 days 1,870 sqft
    2023-08-01 0 days 1,914 sqft
    2023-09-01 0 days 1,929 sqft
    2023-10-01 0 days 1,956 sqft
    2023-11-01 0 days 1,978 sqft
    2023-12-01 0 days 1,956 sqft
    2024-01-01 0 days 1,907 sqft
    2024-02-01 0 days 1,956 sqft
    2024-03-01 0 days 2,048 sqft
    Deridder's median listing age (time on market) for 2024-03-01 was 0 days.

    Deridder's median square footage for active listings during the 2024-03-01 period was 2,048 sqft. One year prior, the average listing was 1,834 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).