Fayetteville FHA Loan Rates, Closing Costs & Stats

FAYETTEVILLE, NC

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.

Fayetteville's 158 lenders originated 1,720 FHA loans during 2023. The total origination value was $397,640,000, with an average FHA loan value of $231,186.

Fayetteville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Fayetteville averaged 6.45% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Fayetteville's average FHA mortgage closing costs are $7,220.

The average rate for the prior week (2024-04-05) was 6.38% and one month ago for the week of 2024-03-08, the average rate was 6.31%.

The average rate one year ago was 6.25%.

For refis of the same type during the week of 2024-04-12, the average rate was 7%.

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

Fayetteville 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 Fayetteville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 151 6.22% $9,509
MOVEMENT MORTGAGE, LLC 103 6.67% $10,646
UNITED WHOLESALE MORTGAGE, LLC 89 6.40% $11,003
LOANDEPOT.COM, LLC 60 6.49% $8,638
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 55 6.86% $8,967
CORNERSTONE HOME LENDING, INC. 55 6.76% $10,662
DHI MORTGAGE COMPANY, LTD. 50 5.24% $7,931
CROSSCOUNTRY MORTGAGE, LLC 49 6.72% $9,783
FREEDOM MORTGAGE CORPORATION 34 6.76% $11,361
GoPrime Mortgage, Inc. 33 6.77% $10,058
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 31 6.79% $10,611
NVR Mortgage Finance, Inc. 29 5.72% $15,113
GUARANTEED RATE, INC. 29 6.64% $9,068
American Security Mortgage Corp. 29 6.34% $10,482
UNION HOME MORTGAGE CORP. 28 6.64% $10,659
CMG MORTGAGE, INC. 28 6.95% $11,271
BROKER SOLUTIONS, INC. 27 6.80% $10,713
NFM, INC. 27 6.96% $11,719
SOUTHERN TRUST MORTGAGE, LLC 27 6.56% $9,471
Mr. Cooper ( Nationstar Mortgage ) 26 6.23% $11,438
JET HOMELOANS, LLC 23 6.10% $11,404
AMERISAVE MORTGAGE CORPORATION 20 5.96% $11,314
INTERCOASTAL MORTGAGE COMPANY 19 6.58% $8,608
Truist 18 5.90% $12,374
CARDINAL FINANCIAL 18 6.47% $11,021
PENNYMAC LOAN SERVICES, LLC 15 6.16% $10,475
Carrington Mortgage Services, LLC 15 6.17% $11,902
Sierra Pacific Mortgage Company, Inc. 14 6.72% $10,459
Alcova Mortgage LLC 13 6.82% $8,818
NEWREZ LLC 13 6.50% $9,615
MORTGAGE SOLUTIONS OF COLORADO, LLC 12 7.41% $8,666
MUTUAL OF OMAHA MORTGAGE, INC. 12 6.89% $11,545
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 12 6.92% $11,372
Mortgage Research Center, LLC 12 6.75% $6,846
VELOCIO MORTGAGE L.L.C. 11 5.90% $12,748
HOMESPIRE MORTGAGE CORPORATION 11 6.93% $7,536
Encompass Lending Group, LP 11 6.20% $10,031
Flagstar Bank, FSB 10 6.38% $9,548
Integrity Home Mortgage Corp 10 6.59% $9,206
ACADEMY MORTGAGE CORPORATION 10 6.66% $11,978
EQUITY RESOURCES, INC. 10 6.68% $8,269
Nations Lending Corporation 9 6.54% $7,999
PRIMELENDING, A PLAINSCAPITAL COMPANY 9 6.65% $13,993
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 9 6.83% $10,333
ACOPIA, LLC 8 6.98% $11,359
ZILLOW HOME LOANS, LLC 8 6.36% $9,558
PRIMARY RESIDENTIAL MORTGAGE, INC. 8 7.02% $12,208
MATTAMY HOME FUNDING, LLC 7 5.43% $9,041
Towne Bank 7 5.79% $13,035
LOANPAL, LLC 6 6.06% $10,267
KBHS HOME LOANS, LLC 6 6.19% $17,369
SUCCESS MORTGAGE PARTNERS, INC. 6 6.89% $10,782
Blue Ridge Bank 6 6.35% $9,901
United Community Bank 6 6.10% $10,056
GUILD MORTGAGE COMPANY 6 7.02% $13,474
SECURITYNATIONAL MORTGAGE COMPANY 6 6.21% $8,942
North State Bank 5 6.43% $9,377
Towne Mortgage of the Carolinas, LLC 5 6.60% $9,747
AMERICAN FINANCIAL NETWORK, INC. 5 7.15% $10,354
Equity Prime Mortgage LLC 5 7.48% $8,703
PLAZA HOME MORTGAGE, INC. 5 6.80% $11,254
TOP FLITE FINANCIAL, INC. 5 6.45% $10,354
PNC Bank 5 6.63% $6,006
The Federal Savings Bank 5 6.60% $13,199
Prosperity Home Mortgage, LLC 5 6.60% $9,436
AMERICAN FINANCING CORPORATION 4 5.84% $7,541
OCMBC, INC. 4 7.28% $12,882
RELIANCE FIRST CAPITAL, LLC 4 6.75% $10,234
LAKEVIEW LOAN SERVICING, LLC 4 5.94% $10,793
Paramount Residential Mortgage Group, Inc. 4 6.72% $11,564
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 6.38% $9,331
Wells Fargo Bank 4 6.41% $9,182
1ST SIGNATURE LENDING, LLC 3 7.33% $12,851
M&T Bank 3 6.46% $7,319
Plains Commerce Bank 3 6.13% $8,653
U.S. Bank 3 6.38% $9,556
VILLAGE CAPITAL MORTGAGE 3 6.50% $9,587
First Horizon Bank 2 6.06% $10,145
PENTAGON FEDERAL CREDIT UNION 2 5.69% $10,342
NBKC BANK 2 6.31% $8,221
FIRST EQUITY MORTGAGE INCORPORATED 2 6.88% $12,370
The Central Trust Bank 2 5.94% $6,568
PLANET HOME LENDING, LLC 2 5.88% $10,521
The Fidelity Bank 2 6.19% $9,209
FIRST HOME MORTGAGE CORPORATION 2 7.50% $11,555
Northpointe Bank 2 6.25% $10,442
TOTAL MORTGAGE SERVICES, LLC 2 7.19% $8,179
BAYSHORE MORTGAGE FUNDING, LLC 2 7.13% $10,104
First-Citizens Bank & Trust Company 2 6.88% $7,429
Barrington Bank & Trust Company, N.A. 2 6.75% $12,092
RUOFF MORTGAGE COMPANY, INC. 2 5.88% $4,608
Ameris Bank 2 6.13% $8,510
SeaTrust Mortgage Company 2 6.44% $11,611
AmeriHome Mortgage Company, LLC 2 6.63% $7,470
MILEND, INC. 2 6.38% $15,728
Presidential Bank, FSB 2 7.00% $13,091
AMERICAN PACIFIC MORTGAGE CORPORATION 2 7.25% $11,799
Shamrock Home Loans, Inc. 2 6.88% $7,879
CBM Mortgage, Inc. 2 7.06% $7,165
JPMorgan Chase Bank 2 5.94% $9,562
Keystone Funding, Inc. 2 5.75% $10,578
First Heritage Mortgage, LLC 2 6.69% $8,888
NATIONS DIRECT MORTGAGE, LLC 2 7.25% $14,115
Corporate Investors Mortgage Group, Inc. 1 7.13% $9,745
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.13% $10,564
Citizens Bank 1 6.63% $6,772
RADIUS FINANCIAL GROUP INC. 1 6.50% $10,520
RAPID MORTGAGE COMPANY 1 7.63% $9,032
Regions Bank 1 5.75% $12,263
CIS Financial Services, Inc. 1 7.13% $16,559
RESIDENTIAL BANCORP 1 6.75% $6,656
Residential Mortgage Solutions, Inc. 1 7.25% $12,544
C & F Mortgage Corporation 1 6.50% $8,176
SFMC, LP 1 7.13% $4,156
SIRVA MORTGAGE, INC. 1 7.38% $6,214
Capital Bank 1 6.38% $6,019
SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.25% $20,030
CANOPY MORTGAGE, LLC 1 7.13% $6,404
SUN WEST MORTGAGE COMPANY, INC. 1 7.13% $4,968
T2 FINANCIAL LLC 1 7.13% $14,564
CALCON MUTUAL MORTGAGE LLC 1 7.63% $13,490
THE MORTGAGE FIRM, INC. 1 6.50% $12,232
BAY-VALLEY MORTGAGE GROUP 1 7.38% $7,912
TOWNE MORTGAGE COMPANY 1 6.99% $9,565
Bank of England 1 6.88% $13,732
UNITED 1 6.75% $12,552
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.00% $8,392
Wolfe Financial, Inc 1 6.50% $10,555
VERITAS FUNDING, LLC 1 7.25% $17,360
Victorian Finance, LLC 1 6.88% $7,496
Kwik Mortgage Corporation 1 6.63% $5,797
Ixonia Bank 1 6.75% $11,070
Lakeview Community Capital, LLC 1 6.25% $7,395
LIBERTY HOME MORTGAGE CORPORATION 1 6.38% $11,919
HUNT MORTGAGE CORPORATION 1 6.50% $8,832
HOMESTAR FINANCIAL CORPORATION 1 6.75% $9,223
HOMESIDE FINANCIAL, LLC 1 5.75% $6,752
MEMBERS 1ST FEDERAL CREDIT UNION 1 6.63% $7,818
MICHIGAN MUTUAL, INC. 1 4.75% $13,702
MID AMERICA MORTGAGE, INC. 1 8.25% $5,127
MIDLAND MORTGAGE CORPORATION 1 6.63% $8,803
MORTGAGE INVESTORS GROUP, INC. 1 6.99% $14,285
GUARANTEED RATE AFFINITY, LLC 1 7.75% $6,586
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.75% $8,803
ALLIED MORTGAGE GROUP, INC. 1 5.88% $9,313
First Federal Bank 1 6.13% $10,030
FIRST CONTINENTAL MORTGAGE, LTD. 1 7.13% $9,829
First Bank 1 5.75% $10,101
EVERETT FINANCIAL, INC. 1 6.63% $4,838
ENVOY MORTGAGE, LTD 1 6.50% $14,795
EMM LOANS LLC 1 5.50% $21,394
Pinnacle Bank 1 7.00% $6,370
AMERICAN FINANCIAL RESOURCES, INC. 1 7.50% $11,433
EMBRACE HOME LOANS, INC. 1 6.75% $9,675
DAS Acquisition Company, LLC 1 6.49% $14,690
POLARIS HOME FUNDING CORP. 1 6.13% $10,056
PREMIA MORTGAGE, LLC 1 6.75% $6,836
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 7.63% $8,613

The top Fayetteville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 151 FHA loans originated. Their average total fees are $9,509, which is $1,137 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Fayetteville FHA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($6,846), HOMESPIRE MORTGAGE CORPORATION ($7,536), DHI MORTGAGE COMPANY, LTD. ($7,931), EQUITY RESOURCES, INC. ($8,269) and INTERCOASTAL MORTGAGE COMPANY ($8,608).

The lowest rate Fayetteville FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.24%), NVR Mortgage Finance, Inc. (5.72%), Truist (5.90%), VELOCIO MORTGAGE L.L.C. (5.90%) and AMERISAVE MORTGAGE CORPORATION (5.96%).

Fayetteville FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
FAYETTEVILLE, NC CUMBERLAND 2022 $420,680 $538,650 $651,050 $809,150
FAYETTEVILLE, NC HARNETT 2022 $420,680 $538,650 $651,050 $809,150
FAYETTEVILLE, NC HOKE 2022 $420,680 $538,650 $651,050 $809,150
FAYETTEVILLE, NC CUMBERLAND 2023 $472,030 $604,400 $730,525 $907,900
FAYETTEVILLE, NC HARNETT 2023 $472,030 $604,400 $730,525 $907,900
FAYETTEVILLE, NC HOKE 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Fayetteville (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 $169,900 (5.4%) $187,549 (3.1%) 0.63 2,964
2018-02-01 $170,750 (2.4%) $187,912 (1.2%) 0.62 2,896
2018-03-01 $174,900 (3.5%) $190,585 (1.6%) 0.61 2,917
2018-04-01 $178,595 (5.7%) $193,657 (3.0%) 0.61 2,870
2018-05-01 $178,000 (4.8%) $194,954 (4.0%) 0.59 2,878
2018-06-01 $177,500 (3.2%) $197,087 (4.0%) 0.59 2,830
2018-07-01 $177,950 (2.9%) $197,332 (3.4%) 0.59 2,823
2018-08-01 $179,800 (4.1%) $198,796 (4.4%) 0.60 2,753
2018-09-01 $179,900 (5.9%) $199,057 (5.5%) 0.60 2,724
2018-10-01 $179,900 (6.0%) $198,370 (5.7%) 0.61 2,597
2018-11-01 $179,700 (5.8%) $198,260 (5.6%) 0.61 2,538
2018-12-01 $177,500 (4.5%) $196,975 (4.9%) 0.61 2,449
2019-01-01 $179,925 (5.9%) $199,845 (6.6%) 0.62 2,318
2019-02-01 $189,950 (11.2%) $206,293 (9.8%) 0.64 2,240
2019-03-01 $199,286 (13.9%) $213,400 (12.0%) 0.65 2,102
2019-04-01 $204,286 (14.4%) $218,216 (12.7%) 0.65 2,021
2019-05-01 $199,900 (12.3%) $217,302 (11.5%) 0.62 2,029
2019-06-01 $199,900 (12.6%) $218,797 (11.0%) 0.62 2,079
2019-07-01 $199,850 (12.3%) $217,511 (10.2%) 0.63 2,104
2019-08-01 $199,900 (11.2%) $216,792 (9.1%) 0.63 2,076
2019-09-01 $199,900 (11.1%) $216,544 (8.8%) 0.64 2,041
2019-10-01 $199,450 (10.9%) $216,379 (9.1%) 0.64 2,004
2019-11-01 $199,500 (11.0%) $216,869 (9.4%) 0.65 1,912
2019-12-01 $199,900 (12.6%) $215,757 (9.5%) 0.67 1,800
2020-01-01 $206,500 (14.8%) $219,477 (9.8%) 0.69 1,643
2020-02-01 $214,900 (13.1%) $221,232 (7.2%) 0.70 1,529
2020-03-01 $212,000 (6.4%) $224,412 (5.2%) 0.66 1,417
2020-04-01 $217,800 (6.6%) $229,178 (5.0%) 0.68 1,354
2020-05-01 $225,000 (12.6%) $235,926 (8.6%) 0.68 1,148
2020-06-01 $234,950 (17.5%) $245,551 (12.2%) 0.69 957
2020-07-01 $237,350 (18.8%) $249,056 (14.5%) 0.69 882
2020-08-01 $245,000 (22.6%) $253,348 (16.9%) 0.70 799
2020-09-01 $244,410 (22.3%) $255,347 (17.9%) 0.70 779
2020-10-01 $239,900 (20.3%) $256,500 (18.5%) 0.69 748
2020-11-01 $237,481 (19.0%) $256,256 (18.2%) 0.69 711
2020-12-01 $235,000 (17.6%) $257,190 (19.2%) 0.70 664
2021-01-01 $229,900 (11.3%) $252,855 (15.2%) 0.69 569
2021-02-01 $230,225 (7.1%) $255,995 (15.7%) 0.67 493
2021-03-01 $214,975 (1.4%) $237,905 (6.0%) 0.61 472
2021-04-01 $214,750 (-1.4%) $240,955 (5.1%) 0.58 473
2021-05-01 $219,900 (-2.3%) $244,346 (3.6%) 0.58 488
2021-06-01 $219,450 (-6.6%) $243,341 (-0.9%) 0.58 539
2021-07-01 $220,000 (-7.3%) $255,940 (2.8%) 0.58 625
2021-08-01 $227,500 (-7.1%) $254,512 (0.5%) 0.61 715
2021-09-01 $227,850 (-6.8%) $258,673 (1.3%) 0.61 706
2021-10-01 $226,820 (-5.5%) $260,166 (1.4%) 0.60 747
2021-11-01 $231,675 (-2.4%) $266,584 (4.0%) 0.62 676
2021-12-01 $239,900 (2.1%) $271,516 (5.6%) 0.65 588
2022-01-01 $248,500 (8.1%) $285,365 (12.9%) 0.67 498
2022-02-01 $249,950 (8.6%) $290,897 (13.6%) 0.65 425
2022-03-01 $237,500 (10.5%) $287,058 (20.7%) 0.59 418
2022-04-01 $269,000 (25.3%) $310,413 (28.8%) 0.64 488
2022-05-01 $294,725 (34.0%) $317,494 (29.9%) 0.67 603
2022-06-01 $297,200 (35.4%) $316,007 (29.9%) 0.66 807
2022-07-01 $307,500 (39.8%) $323,846 (26.5%) 0.69 947
2022-08-01 $325,500 (43.1%) $337,061 (32.4%) 0.75 1,014
2022-09-01 $329,900 (44.8%) $341,310 (32.0%) 0.77 1,035
2022-10-01 $335,000 (47.7%) $343,419 (32.0%) 0.79 1,073
2022-11-01 $339,900 (46.7%) $347,326 (30.3%) 0.82 1,189
2022-12-01 $335,038 (39.7%) $345,388 (27.2%) 0.83 1,171
2023-01-01 $339,975 (36.8%) $351,144 (23.1%) 0.84 1,092
2023-02-01 $341,450 (36.6%) $353,282 (21.5%) 0.82 1,029
2023-03-01 $345,975 (45.7%) $355,121 (23.7%) 0.82 966
2023-04-01 $341,654 (27.0%) $351,171 (13.1%) 0.79 952
2023-05-01 $344,803 (17.0%) $358,516 (12.9%) 0.78 947
2023-06-01 $349,300 (17.5%) $359,567 (13.8%) 0.78 955
2023-07-01 $339,273 (10.3%) $350,098 (8.1%) 0.77 994
2023-08-01 $335,950 (3.2%) $347,170 (3.0%) 0.77 1,084
2023-09-01 $330,000 (0.0%) $344,336 (0.9%) 0.77 1,228
2023-10-01 $327,745 (-2.2%) $344,861 (0.4%) 0.77 1,360
2023-11-01 $326,400 (-4.0%) $344,551 (-0.8%) 0.78 1,441
2023-12-01 $324,900 (-3.0%) $338,614 (-2.0%) 0.79 1,516
2024-01-01 $324,802 (-4.5%) $338,207 (-3.7%) 0.79 1,377
2024-02-01 $323,603 (-5.2%) $338,218 (-4.3%) 0.78 1,353
2024-03-01 $324,975 (-6.1%) $341,218 (-3.9%) 0.76 1,337
Fayetteville's median listing price for 2024-03-01 was $324,975, a difference of $-21,000 (-6.1%) versus the prior year and $1,372 versus the prior month.

Fayetteville's median listing price comes in at 76% of the national average.

Fayetteville's average listing price for 2024-03-01 was $341,218, a difference of $-13,903 (-3.9%) versus the prior year and $3,000 versus the prior month.

For the 2024-03-01 period, Fayetteville had 1,337 MLS listings, a difference of -16 listings (-1%) versus the prior month and 371 listings (38%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Fayetteville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 95 days 1,850 sqft
2018-02-01 92 days 1,850 sqft
2018-03-01 74 days 1,850 sqft
2018-04-01 69 days 1,950 sqft
2018-05-01 66 days 1,950 sqft
2018-06-01 66 days 1,950 sqft
2018-07-01 69 days 1,950 sqft
2018-08-01 71 days 1,950 sqft
2018-09-01 74 days 1,950 sqft
2018-10-01 81 days 1,950 sqft
2018-11-01 85 days 1,950 sqft
2018-12-01 86 days 1,902 sqft
2019-01-01 85 days 1,950 sqft
2019-02-01 82 days 1,924 sqft
2019-03-01 72 days 1,972 sqft
2019-04-01 62 days 2,032 sqft
2019-05-01 57 days 2,054 sqft
2019-06-01 58 days 2,077 sqft
2019-07-01 59 days 1,975 sqft
2019-08-01 61 days 1,963 sqft
2019-09-01 63 days 1,956 sqft
2019-10-01 65 days 1,950 sqft
2019-11-01 66 days 1,950 sqft
2019-12-01 74 days 1,950 sqft
2020-01-01 80 days 1,950 sqft
2020-02-01 68 days 2,075 sqft
2020-03-01 54 days 2,002 sqft
2020-04-01 56 days 2,071 sqft
2020-05-01 60 days 2,100 sqft
2020-06-01 55 days 2,100 sqft
2020-07-01 53 days 2,100 sqft
2020-08-01 51 days 2,100 sqft
2020-09-01 48 days 2,100 sqft
2020-10-01 46 days 2,100 sqft
2020-11-01 50 days 2,100 sqft
2020-12-01 51 days 2,100 sqft
2021-01-01 50 days 1,981 sqft
2021-02-01 39 days 1,973 sqft
2021-03-01 30 days 1,850 sqft
2021-04-01 34 days 1,850 sqft
2021-05-01 33 days 1,925 sqft
2021-06-01 33 days 1,890 sqft
2021-07-01 34 days 1,874 sqft
2021-08-01 33 days 1,906 sqft
2021-09-01 38 days 1,881 sqft
2021-10-01 40 days 1,859 sqft
2021-11-01 44 days 1,888 sqft
2021-12-01 48 days 1,901 sqft
2022-01-01 50 days 1,922 sqft
2022-02-01 35 days 1,935 sqft
2022-03-01 34 days 1,854 sqft
2022-04-01 25 days 1,950 sqft
2022-05-01 29 days 2,003 sqft
2022-06-01 28 days 2,080 sqft
2022-07-01 34 days 2,100 sqft
2022-08-01 37 days 2,186 sqft
2022-09-01 44 days 2,177 sqft
2022-10-01 54 days 2,256 sqft
2022-11-01 56 days 2,263 sqft
2022-12-01 60 days 2,242 sqft
2023-01-01 73 days 2,275 sqft
2023-02-01 69 days 2,216 sqft
2023-03-01 50 days 2,178 sqft
2023-04-01 46 days 2,151 sqft
2023-05-01 45 days 2,133 sqft
2023-06-01 45 days 2,148 sqft
2023-07-01 43 days 2,100 sqft
2023-08-01 43 days 2,059 sqft
2023-09-01 44 days 2,027 sqft
2023-10-01 45 days 2,012 sqft
2023-11-01 51 days 2,000 sqft
2023-12-01 58 days 1,985 sqft
2024-01-01 63 days 1,966 sqft
2024-02-01 54 days 1,930 sqft
2024-03-01 49 days 1,977 sqft
Fayetteville's median listing age (time on market) for 2024-03-01 was 49 days. This is -1% shorter than the same period one year ago.

Fayetteville's median square footage for active listings during the 2024-03-01 period was 1,977 sqft. One year prior, the average listing was 2,178 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).