Gadsden FHA Loan Rates, Closing Costs & Stats
GADSDEN, 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.
Gadsden's 66 lenders originated 361 FHA loans during 2023. The total origination value was $61,215,000, with an average FHA loan value of $169,571.
Gadsden FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Gadsden
averaged
-0.17%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Gadsden's average FHA mortgage closing costs are $5,629.
The average rate for the prior week (2024-11-22) was
6.23% and
one month ago for the week of 2024-10-25, the
average rate was 6.4%.
The average rate one year ago was 7.09%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.24%.
Gadsden 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 Gadsden level.
The top Gadsden FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
68 FHA loans originated. Their average total fees are
$5,369, which is $3,818
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Gadsden FHA lenders (with over 10 loans originated) are
FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,369), Renasant Bank ($6,598), GUILD MORTGAGE COMPANY ($7,227), First Federal Bank, A FSB ($7,894) and QUICKEN LOANS, LLC ($9,187).
The lowest rate Gadsden FHA lenders (with over 10 loans originated) are
First Federal Bank, A FSB (6.19%), QUICKEN LOANS, LLC (6.40%), Renasant Bank (6.43%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.46%) and UNITED WHOLESALE MORTGAGE, LLC (6.51%).
Gadsden FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
GADSDEN, AL | ETOWAH | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
GADSDEN, AL | ETOWAH | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Gadsden (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $148,450 (8.4%) | $189,116 (9.4%) | 0.00 | 450 |
2018-02-01 | $152,738 (13.0%) | $192,205 (11.1%) | 0.00 | 449 |
2018-03-01 | $155,000 (5.4%) | $193,312 (6.6%) | 0.00 | 455 |
2018-04-01 | $155,175 (3.5%) | $191,110 (1.6%) | 0.00 | 472 |
2018-05-01 | $149,700 (-0.1%) | $187,542 (-0.9%) | 0.00 | 473 |
2018-06-01 | $149,900 (0.0%) | $191,817 (2.2%) | 0.00 | 475 |
2018-07-01 | $149,900 (0.0%) | $192,571 (4.0%) | 0.00 | 508 |
2018-08-01 | $149,900 (0.6%) | $189,307 (1.9%) | 0.00 | 517 |
2018-09-01 | $159,900 (4.2%) | $195,883 (2.5%) | 0.00 | 521 |
2018-10-01 | $159,900 (3.2%) | $195,499 (2.7%) | 0.00 | 522 |
2018-11-01 | $159,900 (3.4%) | $195,784 (2.2%) | 0.00 | 500 |
2018-12-01 | $155,900 (4.0%) | $193,873 (3.2%) | 0.00 | 473 |
2019-01-01 | $149,900 (1.0%) | $191,527 (1.3%) | 0.00 | 449 |
2019-02-01 | $149,675 (-2.0%) | $188,608 (-1.9%) | 0.00 | 438 |
2019-03-01 | $155,757 (0.5%) | $193,994 (0.4%) | 0.00 | 422 |
2019-04-01 | $164,900 (6.3%) | $198,598 (3.9%) | 0.00 | 404 |
2019-05-01 | $169,900 (13.5%) | $204,806 (9.2%) | 0.00 | 397 |
2019-06-01 | $174,700 (16.5%) | $204,496 (6.6%) | 0.00 | 399 |
2019-07-01 | $174,900 (16.7%) | $207,933 (8.0%) | 0.00 | 412 |
2019-08-01 | $169,936 (13.4%) | $206,077 (8.9%) | 0.00 | 419 |
2019-09-01 | $164,291 (2.8%) | $204,714 (4.5%) | 0.00 | 426 |
2019-10-01 | $160,425 (0.3%) | $203,894 (4.3%) | 0.00 | 431 |
2019-11-01 | $169,900 (6.3%) | $207,990 (6.2%) | 0.00 | 402 |
2019-12-01 | $169,900 (9.0%) | $210,659 (8.7%) | 0.00 | 380 |
2020-01-01 | $169,900 (13.3%) | $213,145 (11.3%) | 0.00 | 367 |
2020-02-01 | $165,000 (10.2%) | $208,079 (10.3%) | 0.00 | 355 |
2020-03-01 | $179,900 (15.5%) | $218,205 (12.5%) | 0.00 | 311 |
2020-04-01 | $183,075 (11.0%) | $222,147 (11.9%) | 0.00 | 299 |
2020-05-01 | $179,900 (5.9%) | $223,599 (9.2%) | 0.00 | 289 |
2020-06-01 | $184,425 (5.6%) | $227,804 (11.4%) | 0.00 | 268 |
2020-07-01 | $189,900 (8.6%) | $234,581 (12.8%) | 0.00 | 266 |
2020-08-01 | $175,000 (3.0%) | $231,744 (12.5%) | 0.00 | 242 |
2020-09-01 | $172,400 (4.9%) | $229,737 (12.2%) | 0.00 | 214 |
2020-10-01 | $169,900 (5.9%) | $227,044 (11.4%) | 0.00 | 213 |
2020-11-01 | $169,900 (0.0%) | $229,932 (10.6%) | 0.00 | 206 |
2020-12-01 | $169,900 (0.0%) | $230,414 (9.4%) | 0.00 | 202 |
2021-01-01 | $168,900 (-0.6%) | $232,090 (8.9%) | 0.00 | 173 |
2021-02-01 | $177,450 (7.6%) | $243,861 (17.2%) | 0.00 | 136 |
2021-03-01 | $185,550 (3.1%) | $251,617 (15.3%) | 0.00 | 127 |
2021-04-01 | $188,900 (3.2%) | $253,225 (14.0%) | 0.00 | 136 |
2021-05-01 | $187,900 (4.5%) | $260,142 (16.3%) | 0.00 | 118 |
2021-06-01 | $207,500 (12.5%) | $265,886 (16.7%) | 0.00 | 128 |
2021-07-01 | $229,900 (21.1%) | $264,011 (12.6%) | 0.00 | 167 |
2021-08-01 | $231,150 (32.1%) | $273,704 (18.1%) | 0.00 | 170 |
2021-09-01 | $222,475 (29.1%) | $272,359 (18.6%) | 0.00 | 166 |
2021-10-01 | $199,900 (17.7%) | $258,212 (13.7%) | 0.00 | 160 |
2021-11-01 | $199,900 (17.7%) | $239,881 (4.3%) | 0.00 | 160 |
2021-12-01 | $189,900 (11.8%) | $233,642 (1.4%) | 0.00 | 155 |
2022-01-01 | $198,000 (17.2%) | $247,562 (6.7%) | 0.00 | 123 |
2022-02-01 | $205,725 (15.9%) | $247,703 (1.6%) | 0.00 | 101 |
2022-03-01 | $174,450 (-6.0%) | $201,022 (-20.1%) | 0.00 | 128 |
2022-04-01 | $192,400 (1.9%) | $215,856 (-14.8%) | 0.00 | 120 |
2022-05-01 | $231,175 (23.0%) | $258,654 (-0.6%) | 0.00 | 162 |
2022-06-01 | $219,900 (6.0%) | $267,037 (0.4%) | 0.00 | 172 |
2022-07-01 | $224,900 (-2.2%) | $245,569 (-7.0%) | 0.00 | 203 |
2022-08-01 | $229,945 (-0.5%) | $256,177 (-6.4%) | 0.00 | 213 |
2022-09-01 | $226,000 (1.6%) | $264,485 (-2.9%) | 0.00 | 230 |
2022-10-01 | $225,198 (12.7%) | $258,700 (0.2%) | 0.00 | 233 |
2022-11-01 | $225,000 (12.6%) | $258,928 (7.9%) | 0.00 | 243 |
2022-12-01 | $226,950 (19.5%) | $259,629 (11.1%) | 0.00 | 220 |
2023-01-01 | $224,900 (13.6%) | $255,285 (3.1%) | 0.00 | 191 |
2023-02-01 | $224,950 (9.3%) | $258,429 (4.3%) | 0.00 | 190 |
2023-03-01 | $214,450 (22.9%) | $245,865 (22.3%) | 0.00 | 184 |
2023-04-01 | $237,000 (23.2%) | $272,933 (26.4%) | 0.00 | 166 |
2023-05-01 | $223,475 (-3.3%) | $255,303 (-1.3%) | 0.00 | 186 |
2023-06-01 | $220,600 (0.3%) | $255,577 (-4.3%) | 0.00 | 188 |
2023-07-01 | $220,000 (-2.2%) | $263,839 (7.4%) | 0.00 | 187 |
2023-08-01 | $229,925 (0.0%) | $288,831 (12.8%) | 0.00 | 194 |
2023-09-01 | $229,900 (1.7%) | $280,021 (5.9%) | 0.00 | 199 |
2023-10-01 | $223,725 (-0.7%) | $277,651 (7.3%) | 0.00 | 218 |
2023-11-01 | $237,725 (5.7%) | $293,773 (13.5%) | 0.00 | 225 |
2023-12-01 | $230,950 (1.8%) | $290,317 (11.8%) | 0.00 | 231 |
2024-01-01 | $248,225 (10.4%) | $301,002 (17.9%) | 0.00 | 220 |
2024-02-01 | $252,225 (12.1%) | $301,817 (16.8%) | 0.00 | 217 |
2024-03-01 | $248,950 (16.1%) | $296,370 (20.5%) | 0.00 | 236 |
2024-04-01 | $247,450 (4.4%) | $290,126 (6.3%) | 0.00 | 241 |
2024-05-01 | $248,450 (11.2%) | $295,340 (15.7%) | 0.00 | 250 |
2024-06-01 | $249,000 (12.9%) | $306,211 (19.8%) | 0.00 | 275 |
2024-07-01 | $264,450 (20.2%) | $317,018 (20.2%) | 0.00 | 281 |
2024-08-01 | $259,950 (13.1%) | $316,403 (9.6%) | 0.00 | 306 |
2024-09-01 | $251,175 (9.3%) | $315,555 (12.7%) | 0.00 | 326 |
2024-10-01 | $249,900 (11.7%) | $304,208 (9.6%) | 0.00 | 326 |
Gadsden's median listing price comes in at 0% of the national average.
Gadsden's average listing price for 2024-10-01 was $304,208, a difference of $26,557 (9.6%) versus the prior year and $-11,347 versus the prior month.
For the 2024-10-01 period, Gadsden had 326 MLS listings, a difference of 0 listings (0%) versus the prior month and 108 listings (50%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Gadsden (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,884 sqft |
2018-02-01 | 0 days | 1,900 sqft |
2018-03-01 | 0 days | 1,900 sqft |
2018-04-01 | 0 days | 1,897 sqft |
2018-05-01 | 0 days | 1,879 sqft |
2018-06-01 | 0 days | 1,900 sqft |
2018-07-01 | 0 days | 1,900 sqft |
2018-08-01 | 0 days | 1,872 sqft |
2018-09-01 | 0 days | 1,900 sqft |
2018-10-01 | 0 days | 1,900 sqft |
2018-11-01 | 0 days | 1,900 sqft |
2018-12-01 | 0 days | 1,900 sqft |
2019-01-01 | 0 days | 1,891 sqft |
2019-02-01 | 0 days | 1,885 sqft |
2019-03-01 | 0 days | 1,942 sqft |
2019-04-01 | 0 days | 2,000 sqft |
2019-05-01 | 0 days | 2,028 sqft |
2019-06-01 | 0 days | 2,084 sqft |
2019-07-01 | 0 days | 2,091 sqft |
2019-08-01 | 0 days | 2,065 sqft |
2019-09-01 | 0 days | 2,033 sqft |
2019-10-01 | 0 days | 2,017 sqft |
2019-11-01 | 0 days | 2,052 sqft |
2019-12-01 | 0 days | 2,059 sqft |
2020-01-01 | 0 days | 2,009 sqft |
2020-02-01 | 0 days | 2,000 sqft |
2020-03-01 | 0 days | 2,075 sqft |
2020-04-01 | 0 days | 2,110 sqft |
2020-05-01 | 0 days | 2,110 sqft |
2020-06-01 | 0 days | 2,118 sqft |
2020-07-01 | 0 days | 2,160 sqft |
2020-08-01 | 0 days | 2,100 sqft |
2020-09-01 | 0 days | 2,053 sqft |
2020-10-01 | 0 days | 2,035 sqft |
2020-11-01 | 0 days | 2,086 sqft |
2020-12-01 | 0 days | 2,021 sqft |
2021-01-01 | 0 days | 2,000 sqft |
2021-02-01 | 0 days | 2,064 sqft |
2021-03-01 | 0 days | 2,145 sqft |
2021-04-01 | 0 days | 2,120 sqft |
2021-05-01 | 0 days | 2,095 sqft |
2021-06-01 | 0 days | 2,105 sqft |
2021-07-01 | 0 days | 2,100 sqft |
2021-08-01 | 0 days | 2,094 sqft |
2021-09-01 | 0 days | 2,058 sqft |
2021-10-01 | 0 days | 2,045 sqft |
2021-11-01 | 0 days | 1,998 sqft |
2021-12-01 | 0 days | 1,992 sqft |
2022-01-01 | 0 days | 1,936 sqft |
2022-02-01 | 0 days | 1,973 sqft |
2022-03-01 | 0 days | 1,753 sqft |
2022-04-01 | 0 days | 1,915 sqft |
2022-05-01 | 0 days | 1,919 sqft |
2022-06-01 | 0 days | 1,918 sqft |
2022-07-01 | 0 days | 1,936 sqft |
2022-08-01 | 0 days | 1,934 sqft |
2022-09-01 | 0 days | 1,931 sqft |
2022-10-01 | 0 days | 1,904 sqft |
2022-11-01 | 0 days | 1,975 sqft |
2022-12-01 | 0 days | 1,975 sqft |
2023-01-01 | 0 days | 1,969 sqft |
2023-02-01 | 0 days | 1,970 sqft |
2023-03-01 | 0 days | 1,938 sqft |
2023-04-01 | 0 days | 2,100 sqft |
2023-05-01 | 0 days | 1,953 sqft |
2023-06-01 | 0 days | 1,919 sqft |
2023-07-01 | 0 days | 1,946 sqft |
2023-08-01 | 0 days | 1,962 sqft |
2023-09-01 | 0 days | 1,934 sqft |
2023-10-01 | 0 days | 1,874 sqft |
2023-11-01 | 0 days | 1,899 sqft |
2023-12-01 | 0 days | 1,958 sqft |
2024-01-01 | 0 days | 2,007 sqft |
2024-02-01 | 0 days | 1,983 sqft |
2024-03-01 | 0 days | 1,894 sqft |
2024-04-01 | 0 days | 1,877 sqft |
2024-05-01 | 0 days | 1,958 sqft |
2024-06-01 | 0 days | 1,958 sqft |
2024-07-01 | 0 days | 2,056 sqft |
2024-08-01 | 0 days | 2,091 sqft |
2024-09-01 | 0 days | 1,969 sqft |
2024-10-01 | 0 days | 1,946 sqft |
Gadsden's median square footage for active listings during the 2024-10-01 period was 1,946 sqft. One year prior, the average listing was 1,874 sqft.