Enterprise FHA Loan Rates, Closing Costs & Stats

Enterprise, 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.

Enterprise's 28 lenders originated 118 FHA loans during 2024. The total origination value was $24,270,000, with an average FHA loan value of $205,678.

Enterprise FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Enterprise averaged 6.45% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

Enterprise's average FHA mortgage closing costs are $6,226.

The average rate for the prior week (2025-03-28) was 6.44% and one month ago for the week of 2025-02-28, the average rate was 6.53%.

The average rate one year ago was 6.55%.

For refis of the same type during the week of 2025-04-04, the average rate was 5.72%.

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

Enterprise 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 Enterprise level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 14 5.98% $12,426
CMG MORTGAGE, INC. 13 6.50% $9,862
ENVOY MORTGAGE, LTD 12 6.43% $8,763
MOVEMENT MORTGAGE, LLC 11 6.50% $10,153
QUICKEN LOANS, LLC 8 6.32% $9,195
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.30% $8,780
Flagstar Bank, FSB 5 6.39% $11,983
Renasant Bank 4 6.81% $7,314
Mortgage Research Center, LLC 4 6.06% $4,954
CROSSCOUNTRY MORTGAGE, LLC 3 6.50% $12,729
Mr. Cooper ( Nationstar Mortgage ) 2 6.94% $10,400
FREEDOM MORTGAGE CORPORATION 2 6.50% $11,019
LAKEVIEW LOAN SERVICING, LLC 2 6.50% $8,363
LOANDEPOT.COM, LLC 2 6.38% $9,405
STOCKTON MORTGAGE CORPORATION 2 7.00% $6,430
UNION HOME MORTGAGE CORP. 2 6.38% $8,422
PENNYMAC LOAN SERVICES, LLC 1 5.99% $16,614
PLAZA HOME MORTGAGE, INC. 1 7.50% $4,773
MILEND, INC. 1 6.13% $12,246
Regions Bank 1 6.25% $5,380
ENDEAVOR CAPITAL, LLC. 1 6.63% $11,307
ServisFirst Bank 1 5.25% $6,404
SmartBank 1 6.38% $6,192
BROKER SOLUTIONS, INC. 1 6.99% $5,491
SUCCESS MORTGAGE PARTNERS, INC. 1 5.50% $8,936
TOWNE MORTGAGE COMPANY 1 6.75% $5,565
Assurance Financial Group, L.L.C. 1 7.13% $7,981
MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $7,868

The top Enterprise FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 14 FHA loans originated. Their average total fees are $12,426, which is $2,564 higher than the next largest lender, CMG MORTGAGE, INC..

The lowest fee Enterprise FHA lenders (with over 10 loans originated) are ENVOY MORTGAGE, LTD ($8,763), CMG MORTGAGE, INC. ($9,862), MOVEMENT MORTGAGE, LLC ($10,153), UNITED WHOLESALE MORTGAGE, LLC ($12,426) and .

The lowest rate Enterprise FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.98%), ENVOY MORTGAGE, LTD (6.43%), CMG MORTGAGE, INC. (6.50%), MOVEMENT MORTGAGE, LLC (6.50%) and .

Enterprise FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Enterprise (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 $168,769 (8.3%) $184,467 (-0.2%) 0.00 354
2018-02-01 $166,500 (3.0%) $184,052 (-0.7%) 0.00 365
2018-03-01 $172,338 (7.2%) $189,922 (3.6%) 0.00 381
2018-04-01 $171,000 (4.3%) $187,802 (-0.2%) 0.00 402
2018-05-01 $170,000 (0.0%) $195,858 (1.7%) 0.00 473
2018-06-01 $168,850 (-1.0%) $191,849 (1.0%) 0.00 411
2018-07-01 $169,400 (-3.2%) $193,054 (1.5%) 0.00 406
2018-08-01 $174,819 (1.7%) $193,143 (2.8%) 0.00 408
2018-09-01 $179,900 (6.1%) $198,166 (6.7%) 0.00 389
2018-10-01 $178,500 (6.0%) $200,050 (8.3%) 0.00 370
2018-11-01 $179,475 (6.1%) $202,556 (9.0%) 0.00 360
2018-12-01 $178,500 (8.3%) $200,909 (9.4%) 0.00 363
2019-01-01 $178,950 (6.0%) $200,474 (8.7%) 0.00 345
2019-02-01 $177,375 (6.5%) $200,065 (8.7%) 0.00 347
2019-03-01 $177,143 (2.8%) $203,815 (7.3%) 0.00 337
2019-04-01 $176,368 (3.1%) $211,183 (12.5%) 0.00 333
2019-05-01 $178,500 (5.0%) $213,451 (9.0%) 0.00 326
2019-06-01 $174,950 (3.6%) $214,771 (12.0%) 0.00 314
2019-07-01 $178,900 (5.6%) $216,926 (12.4%) 0.00 314
2019-08-01 $180,382 (3.2%) $216,831 (12.3%) 0.00 289
2019-09-01 $181,855 (1.1%) $216,798 (9.4%) 0.00 269
2019-10-01 $182,836 (2.4%) $217,788 (8.9%) 0.00 256
2019-11-01 $178,500 (-0.5%) $212,218 (4.8%) 0.00 252
2019-12-01 $178,500 (0.0%) $212,366 (5.7%) 0.00 239
2020-01-01 $179,700 (0.4%) $212,619 (6.1%) 0.00 221
2020-02-01 $174,950 (-1.4%) $204,985 (2.5%) 0.00 223
2020-03-01 $169,900 (-4.1%) $207,766 (1.9%) 0.00 218
2020-04-01 $179,000 (1.5%) $213,254 (1.0%) 0.00 207
2020-05-01 $187,500 (5.0%) $222,647 (4.3%) 0.00 197
2020-06-01 $203,750 (16.5%) $236,169 (10.0%) 0.00 172
2020-07-01 $198,250 (10.8%) $237,274 (9.4%) 0.00 151
2020-08-01 $199,975 (10.9%) $250,653 (15.6%) 0.00 142
2020-09-01 $214,725 (18.1%) $265,396 (22.4%) 0.00 119
2020-10-01 $213,250 (16.6%) $231,582 (6.3%) 0.00 136
2020-11-01 $197,450 (10.6%) $220,730 (4.0%) 0.00 150
2020-12-01 $207,375 (16.2%) $230,011 (8.3%) 0.00 151
2021-01-01 $206,500 (14.9%) $226,841 (6.7%) 0.00 137
2021-02-01 $195,825 (11.9%) $224,562 (9.6%) 0.00 125
2021-03-01 $192,475 (13.3%) $238,467 (14.8%) 0.00 103
2021-04-01 $181,000 (1.1%) $231,377 (8.5%) 0.00 95
2021-05-01 $199,750 (6.5%) $250,639 (12.6%) 0.00 87
2021-06-01 $223,625 (9.8%) $257,537 (9.1%) 0.00 97
2021-07-01 $215,000 (8.5%) $256,173 (8.0%) 0.00 109
2021-08-01 $202,450 (1.2%) $250,047 (-0.2%) 0.00 114
2021-09-01 $195,920 (-8.8%) $243,240 (-8.4%) 0.00 104
2021-10-01 $195,000 (-8.6%) $227,229 (-1.9%) 0.00 109
2021-11-01 $193,724 (-1.9%) $225,961 (2.4%) 0.00 98
2021-12-01 $193,724 (-6.6%) $228,539 (-0.6%) 0.00 87
2022-01-01 $195,000 (-5.6%) $221,393 (-2.4%) 0.00 77
2022-02-01 $199,000 (1.6%) $239,647 (6.7%) 0.00 63
2022-03-01 $190,500 (-1.0%) $231,104 (-3.1%) 0.00 60
2022-04-01 $218,750 (20.9%) $254,411 (10.0%) 0.00 56
2022-05-01 $246,825 (23.6%) $280,397 (11.9%) 0.00 64
2022-06-01 $292,200 (30.7%) $307,400 (19.4%) 0.00 82
2022-07-01 $327,950 (52.5%) $326,524 (27.5%) 0.00 92
2022-08-01 $335,750 (65.8%) $319,930 (28.0%) 0.00 94
2022-09-01 $345,000 (76.1%) $321,379 (32.1%) 0.00 101
2022-10-01 $349,000 (79.0%) $327,138 (44.0%) 0.00 107
2022-11-01 $338,000 (74.5%) $327,624 (45.0%) 0.00 110
2022-12-01 $338,000 (74.5%) $336,356 (47.2%) 0.00 109
2023-01-01 $346,725 (77.8%) $326,749 (47.6%) 0.00 98
2023-02-01 $347,000 (74.4%) $324,030 (35.2%) 0.00 93
2023-03-01 $353,725 (85.7%) $337,669 (46.1%) 0.00 106
2023-04-01 $359,000 (64.1%) $342,935 (34.8%) 0.00 114
2023-05-01 $359,000 (45.5%) $344,680 (22.9%) 0.00 96
2023-06-01 $359,425 (23.0%) $339,704 (10.5%) 0.00 107
2023-07-01 $366,500 (11.8%) $337,006 (3.2%) 0.00 114
2023-08-01 $356,675 (6.2%) $336,407 (5.2%) 0.00 124
2023-09-01 $328,000 (-4.9%) $322,351 (0.3%) 0.00 136
2023-10-01 $322,225 (-7.7%) $322,110 (-1.5%) 0.00 148
2023-11-01 $315,625 (-6.6%) $323,740 (-1.2%) 0.00 147
2023-12-01 $273,500 (-19.1%) $303,343 (-9.8%) 0.00 145
2024-01-01 $275,000 (-20.7%) $304,701 (-6.8%) 0.00 136
2024-02-01 $281,225 (-19.0%) $305,615 (-5.7%) 0.00 140
2024-03-01 $259,900 (-26.5%) $299,970 (-11.2%) 0.00 146
2024-04-01 $298,250 (-16.9%) $311,789 (-9.1%) 0.00 132
2024-05-01 $329,500 (-8.2%) $345,195 (0.2%) 0.00 134
2024-06-01 $310,000 (-13.8%) $333,432 (-1.9%) 0.00 151
2024-07-01 $278,475 (-24.0%) $311,942 (-7.4%) 0.00 173
2024-08-01 $265,000 (-25.7%) $308,762 (-8.2%) 0.00 176
2024-09-01 $277,175 (-15.5%) $300,958 (-6.6%) 0.00 203
2024-10-01 $274,375 (-14.9%) $305,515 (-5.2%) 0.00 202
2024-11-01 $268,750 (-14.9%) $304,081 (-6.1%) 0.00 206
2024-12-01 $265,000 (-3.1%) $299,567 (-1.2%) 0.00 194
2025-01-01 $274,950 (0.0%) $304,624 (0.0%) 0.00 195
2025-02-01 $284,744 (1.3%) $318,285 (4.2%) 0.00 184
2025-03-01 $299,900 (15.4%) $318,937 (6.3%) 0.00 183
Enterprise's median listing price for 2025-03-01 was $299,900, a difference of $40,000 (15.4%) versus the prior year and $15,156 versus the prior month.

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

Enterprise's average listing price for 2025-03-01 was $318,937, a difference of $18,967 (6.3%) versus the prior year and $652 versus the prior month.

For the 2025-03-01 period, Enterprise had 183 MLS listings, a difference of -1 listings (-1%) versus the prior month and 37 listings (25%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Enterprise (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,988 sqft
2018-02-01 0 days 1,930 sqft
2018-03-01 0 days 1,938 sqft
2018-04-01 0 days 1,955 sqft
2018-05-01 0 days 1,959 sqft
2018-06-01 0 days 1,954 sqft
2018-07-01 0 days 1,966 sqft
2018-08-01 0 days 2,011 sqft
2018-09-01 0 days 1,988 sqft
2018-10-01 0 days 2,001 sqft
2018-11-01 0 days 2,015 sqft
2018-12-01 0 days 1,973 sqft
2019-01-01 0 days 1,961 sqft
2019-02-01 0 days 1,925 sqft
2019-03-01 0 days 1,937 sqft
2019-04-01 0 days 1,966 sqft
2019-05-01 0 days 1,962 sqft
2019-06-01 0 days 1,947 sqft
2019-07-01 0 days 2,018 sqft
2019-08-01 0 days 2,011 sqft
2019-09-01 0 days 2,001 sqft
2019-10-01 0 days 1,998 sqft
2019-11-01 0 days 1,980 sqft
2019-12-01 0 days 1,974 sqft
2020-01-01 0 days 1,931 sqft
2020-02-01 0 days 1,895 sqft
2020-03-01 0 days 1,987 sqft
2020-04-01 0 days 2,047 sqft
2020-05-01 0 days 2,074 sqft
2020-06-01 0 days 2,136 sqft
2020-07-01 0 days 2,094 sqft
2020-08-01 0 days 2,131 sqft
2020-09-01 0 days 2,092 sqft
2020-10-01 0 days 2,017 sqft
2020-11-01 0 days 2,028 sqft
2020-12-01 0 days 2,049 sqft
2021-01-01 0 days 1,988 sqft
2021-02-01 0 days 1,970 sqft
2021-03-01 0 days 2,000 sqft
2021-04-01 0 days 1,945 sqft
2021-05-01 0 days 1,926 sqft
2021-06-01 0 days 1,981 sqft
2021-07-01 0 days 2,000 sqft
2021-08-01 0 days 2,027 sqft
2021-09-01 0 days 1,951 sqft
2021-10-01 0 days 1,996 sqft
2021-11-01 0 days 1,992 sqft
2021-12-01 0 days 1,912 sqft
2022-01-01 0 days 1,903 sqft
2022-02-01 0 days 1,932 sqft
2022-03-01 0 days 1,751 sqft
2022-04-01 0 days 1,958 sqft
2022-05-01 0 days 2,040 sqft
2022-06-01 0 days 2,219 sqft
2022-07-01 0 days 2,259 sqft
2022-08-01 0 days 2,257 sqft
2022-09-01 0 days 2,234 sqft
2022-10-01 0 days 2,297 sqft
2022-11-01 0 days 2,270 sqft
2022-12-01 0 days 2,247 sqft
2023-01-01 0 days 2,243 sqft
2023-02-01 0 days 2,221 sqft
2023-03-01 0 days 2,223 sqft
2023-04-01 0 days 2,240 sqft
2023-05-01 0 days 2,250 sqft
2023-06-01 0 days 2,293 sqft
2023-07-01 0 days 2,282 sqft
2023-08-01 0 days 2,288 sqft
2023-09-01 0 days 2,114 sqft
2023-10-01 0 days 2,110 sqft
2023-11-01 0 days 2,116 sqft
2023-12-01 0 days 2,105 sqft
2024-01-01 0 days 2,110 sqft
2024-02-01 0 days 2,110 sqft
2024-03-01 0 days 2,056 sqft
2024-04-01 0 days 2,103 sqft
2024-05-01 0 days 2,219 sqft
2024-06-01 0 days 2,180 sqft
2024-07-01 0 days 2,079 sqft
2024-08-01 0 days 2,067 sqft
2024-09-01 0 days 2,096 sqft
2024-10-01 0 days 2,096 sqft
2024-11-01 0 days 2,058 sqft
2024-12-01 0 days 2,050 sqft
2025-01-01 0 days 2,054 sqft
2025-02-01 0 days 2,072 sqft
2025-03-01 0 days 2,061 sqft
Enterprise's median listing age (time on market) for 2025-03-01 was 0 days.

Enterprise's median square footage for active listings during the 2025-03-01 period was 2,061 sqft. One year prior, the average listing was 2,056 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).