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 62 lenders originated 407 FHA loans during 2024. The total origination value was $77,455,000, with an average FHA loan value of $190,307.

Gadsden FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Gadsden averaged 6.24% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

Gadsden's average FHA mortgage closing costs are $5,987.

The average rate for the prior week (2025-03-28) was 6.64% and one month ago for the week of 2025-02-28, the average rate was 6.52%.

The average rate one year ago was 6.54%.

For refis of the same type during the week of 2025-04-04, the average rate was 6.23%.

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

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.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
TOWNE MORTGAGE COMPANY 43 6.39% $7,601
QUICKEN LOANS, LLC 35 6.63% $8,240
Renasant Bank 32 6.40% $7,028
First Federal Bank, A FSB 29 5.91% $7,784
GUILD MORTGAGE COMPANY 21 6.68% $9,019
MOVEMENT MORTGAGE, LLC 19 6.22% $7,995
HUNT MORTGAGE CORPORATION 18 6.40% $7,347
STOCKTON MORTGAGE CORPORATION 13 6.30% $9,819
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 6.68% $7,456
SouthPoint Bank 9 5.71% $7,480
FREEDOM MORTGAGE CORPORATION 8 6.16% $12,217
UNITED WHOLESALE MORTGAGE, LLC 8 6.45% $9,208
LOANDEPOT.COM, LLC 7 6.41% $9,687
BROKER SOLUTIONS, INC. 7 6.52% $9,552
FirstBank 6 5.85% $8,639
ACOPIA, LLC 5 6.43% $9,345
MORTGAGE INVESTORS GROUP, INC. 5 6.27% $7,857
GMFS LLC 5 6.38% $8,147
CANOPY MORTGAGE, LLC 5 6.65% $10,268
VANDERBILT MORTGAGE AND FINANCE, INC. 4 5.81% $6,735
NEWREZ LLC 4 6.38% $9,291
PENNYMAC LOAN SERVICES, LLC 4 6.12% $7,293
CARDINAL FINANCIAL 4 6.25% $7,806
Ameris Bank 4 5.97% $12,371
FIRST COMMUNITY MORTGAGE, INC. 4 5.90% $7,964
Flagstar Bank, FSB 4 6.97% $8,392
UNION HOME MORTGAGE CORP. 3 6.58% $9,422
SOUTHWEST FUNDING, LP 3 6.67% $9,032
Hamilton Mortgage Corporation 3 6.29% $8,085
TJC Mortgage, Inc. 3 6.58% $11,599
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.58% $10,018
Regions Bank 3 6.33% $6,333
Consumer First Mortgage, Inc. 2 6.13% $10,985
AMERICAN FINANCIAL RESOURCES, INC. 2 7.06% $6,972
BancorpSouth 2 6.06% $7,437
CHURCHILL MORTGAGE CORPORATION 2 6.56% $6,309
DHI MORTGAGE COMPANY, LTD. 2 4.75% $5,707
EVERETT FINANCIAL, INC. 2 6.56% $6,364
FBC MORTGAGE, LLC 2 7.00% $8,828
LAKEVIEW LOAN SERVICING, LLC 2 6.25% $5,658
SUCCESS MORTGAGE PARTNERS, INC. 2 5.94% $8,333
SWBC MORTGAGE CORPORATION 2 6.38% $3,531
Victorian Finance, LLC 2 6.93% $10,490
MILEND, INC. 1 6.63% $10,028
HOMESIDE FINANCIAL, LLC 1 6.75% $10,099
SIRVA MORTGAGE, INC. 1 7.25% $4,480
Equity Prime Mortgage LLC 1 7.75% $10,201
South State Bank 1 7.25% $10,398
DAS Acquisition Company, LLC 1 6.50% $6,726
BANKSOUTH MORTGAGE COMPANY, LLC 1 5.63% $13,279
AMERICAN FINANCING CORPORATION 1 5.88% $9,101
ZILLOW HOME LOANS, LLC 1 6.75% $5,524
The Federal Savings Bank 1 6.25% $6,955
The Loan Store, Inc. 1 7.49% $8,762
Bank of England 1 5.25% $11,342
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.75% $8,415
Trustmark National Bank 1 7.00% $12,469
AMERISAVE MORTGAGE CORPORATION 1 5.63% $6,181
AmeriHome Mortgage Company, LLC 1 6.13% $5,045
Prosperity Home Mortgage, LLC 1 6.63% $7,129
PLANET HOME LENDING, LLC 1 6.88% $6,690
REDSTONE Federal Credit Union 1 6.63% $5,334

The top Gadsden FHA lender as defined by loan originations is TOWNE MORTGAGE COMPANY, with 43 FHA loans originated. Their average total fees are $7,601, which is $640 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Gadsden FHA lenders (with over 10 loans originated) are Renasant Bank ($7,028), HUNT MORTGAGE CORPORATION ($7,347), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,456), TOWNE MORTGAGE COMPANY ($7,601) and First Federal Bank, A FSB ($7,784).

The lowest rate Gadsden FHA lenders (with over 10 loans originated) are First Federal Bank, A FSB (5.91%), MOVEMENT MORTGAGE, LLC (6.22%), STOCKTON MORTGAGE CORPORATION (6.30%), TOWNE MORTGAGE COMPANY (6.39%) and Renasant Bank (6.40%).

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. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $148,450 (8.4%) $188,992 (9.4%) 0.00 451
2018-02-01 $152,413 (12.8%) $192,072 (11.1%) 0.00 450
2018-03-01 $154,950 (5.5%) $193,180 (6.6%) 0.00 455
2018-04-01 $154,950 (3.4%) $190,989 (1.6%) 0.00 473
2018-05-01 $149,575 (-0.2%) $187,427 (-0.9%) 0.00 474
2018-06-01 $149,900 (0.0%) $191,696 (2.1%) 0.00 476
2018-07-01 $149,900 (0.0%) $192,452 (4.0%) 0.00 509
2018-08-01 $149,900 (0.6%) $189,198 (1.9%) 0.00 518
2018-09-01 $159,900 (4.2%) $195,883 (2.5%) 0.00 522
2018-10-01 $159,900 (3.2%) $195,499 (2.7%) 0.00 522
2018-11-01 $159,900 (3.8%) $195,784 (2.3%) 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 (-1.8%) $188,608 (-1.8%) 0.00 438
2019-03-01 $155,757 (0.5%) $193,994 (0.4%) 0.00 422
2019-04-01 $164,900 (6.4%) $198,598 (4.0%) 0.00 404
2019-05-01 $169,900 (13.6%) $204,806 (9.3%) 0.00 397
2019-06-01 $174,700 (16.5%) $204,496 (6.7%) 0.00 399
2019-07-01 $174,900 (16.7%) $207,933 (8.0%) 0.00 412
2019-08-01 $169,936 (13.4%) $206,204 (9.0%) 0.00 419
2019-09-01 $164,291 (2.8%) $205,032 (4.7%) 0.00 427
2019-10-01 $160,527 (0.4%) $204,334 (4.5%) 0.00 432
2019-11-01 $169,900 (6.3%) $208,471 (6.5%) 0.00 403
2019-12-01 $169,900 (9.0%) $211,146 (8.9%) 0.00 381
2020-01-01 $169,900 (13.3%) $213,650 (11.6%) 0.00 368
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 (12.4%) 0.00 242
2020-09-01 $172,400 (4.9%) $229,737 (12.1%) 0.00 214
2020-10-01 $169,900 (5.8%) $227,044 (11.1%) 0.00 213
2020-11-01 $169,900 (0.0%) $229,932 (10.3%) 0.00 206
2020-12-01 $169,900 (0.0%) $230,414 (9.1%) 0.00 202
2021-01-01 $168,900 (-0.6%) $232,090 (8.6%) 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 $206,250 (11.8%) $265,990 (16.8%) 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%) $239,090 (4.0%) 0.00 160
2021-12-01 $189,900 (11.8%) $231,831 (0.6%) 0.00 154
2022-01-01 $196,500 (16.3%) $245,357 (5.7%) 0.00 122
2022-02-01 $204,250 (15.1%) $245,349 (0.6%) 0.00 100
2022-03-01 $173,450 (-6.5%) $198,762 (-21.0%) 0.00 127
2022-04-01 $189,900 (0.5%) $213,605 (-15.7%) 0.00 119
2022-05-01 $231,150 (23.0%) $258,778 (-0.5%) 0.00 161
2022-06-01 $218,650 (6.0%) $265,878 (0.0%) 0.00 171
2022-07-01 $224,900 (-2.2%) $244,412 (-7.4%) 0.00 202
2022-08-01 $229,468 (-0.7%) $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 (8.3%) 0.00 243
2022-12-01 $226,950 (19.5%) $259,629 (12.0%) 0.00 220
2023-01-01 $224,900 (14.5%) $255,285 (4.1%) 0.00 191
2023-02-01 $224,950 (10.1%) $258,429 (5.3%) 0.00 190
2023-03-01 $214,450 (23.6%) $245,865 (23.7%) 0.00 184
2023-04-01 $237,000 (24.8%) $272,933 (27.8%) 0.00 166
2023-05-01 $223,475 (-3.3%) $255,303 (-1.3%) 0.00 186
2023-06-01 $220,600 (0.9%) $255,577 (-3.9%) 0.00 188
2023-07-01 $220,000 (-2.2%) $263,839 (8.0%) 0.00 187
2023-08-01 $229,925 (0.2%) $288,831 (12.8%) 0.00 194
2023-09-01 $229,900 (1.7%) $276,774 (4.7%) 0.00 198
2023-10-01 $222,500 (-1.2%) $275,459 (6.5%) 0.00 217
2023-11-01 $233,500 (3.8%) $291,769 (12.7%) 0.00 224
2023-12-01 $229,900 (1.3%) $288,445 (11.1%) 0.00 230
2024-01-01 $247,950 (10.3%) $299,045 (17.1%) 0.00 219
2024-02-01 $250,750 (11.5%) $299,860 (16.0%) 0.00 216
2024-03-01 $248,000 (15.6%) $294,492 (19.8%) 0.00 235
2024-04-01 $247,425 (4.4%) $288,490 (5.7%) 0.00 240
2024-05-01 $247,725 (10.9%) $291,615 (14.2%) 0.00 249
2024-06-01 $249,000 (12.9%) $303,720 (18.8%) 0.00 275
2024-07-01 $264,450 (20.2%) $317,018 (20.2%) 0.00 281
2024-08-01 $260,000 (13.1%) $316,601 (9.6%) 0.00 305
2024-09-01 $252,400 (9.8%) $315,746 (14.1%) 0.00 325
2024-10-01 $249,900 (12.3%) $304,208 (10.4%) 0.00 325
2024-11-01 $249,900 (7.0%) $305,397 (4.7%) 0.00 308
2024-12-01 $243,450 (5.9%) $301,842 (4.6%) 0.00 291
2025-01-01 $239,900 (-3.3%) $299,160 (0.0%) 0.00 281
2025-02-01 $252,450 (0.7%) $311,106 (3.8%) 0.00 281
2025-03-01 $259,000 (4.4%) $314,664 (6.9%) 0.00 296
Gadsden's median listing price for 2025-03-01 was $259,000, a difference of $11,000 (4.4%) versus the prior year and $6,550 versus the prior month.

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

Gadsden's average listing price for 2025-03-01 was $314,664, a difference of $20,172 (6.9%) versus the prior year and $3,558 versus the prior month.

For the 2025-03-01 period, Gadsden had 296 MLS listings, a difference of 15 listings (5%) versus the prior month and 61 listings (26%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Gadsden (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,884 sqft
2018-02-01 0 days 1,900 sqft
2018-03-01 0 days 1,900 sqft
2018-04-01 0 days 1,895 sqft
2018-05-01 0 days 1,879 sqft
2018-06-01 0 days 1,897 sqft
2018-07-01 0 days 1,899 sqft
2018-08-01 0 days 1,869 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 2,026 sqft
2019-06-01 0 days 2,083 sqft
2019-07-01 0 days 2,087 sqft
2019-08-01 0 days 2,063 sqft
2019-09-01 0 days 2,032 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 2,070 sqft
2020-04-01 0 days 2,107 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 2,100 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 1,988 sqft
2022-01-01 0 days 1,936 sqft
2022-02-01 0 days 1,965 sqft
2022-03-01 0 days 1,740 sqft
2022-04-01 0 days 1,909 sqft
2022-05-01 0 days 1,916 sqft
2022-06-01 0 days 1,914 sqft
2022-07-01 0 days 1,932 sqft
2022-08-01 0 days 1,932 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 1,877 sqft
2023-11-01 0 days 1,902 sqft
2023-12-01 0 days 1,963 sqft
2024-01-01 0 days 2,012 sqft
2024-02-01 0 days 1,994 sqft
2024-03-01 0 days 1,900 sqft
2024-04-01 0 days 1,899 sqft
2024-05-01 0 days 1,951 sqft
2024-06-01 0 days 1,958 sqft
2024-07-01 0 days 2,060 sqft
2024-08-01 0 days 2,089 sqft
2024-09-01 0 days 1,963 sqft
2024-10-01 0 days 1,945 sqft
2024-11-01 0 days 1,990 sqft
2024-12-01 0 days 1,989 sqft
2025-01-01 0 days 1,965 sqft
2025-02-01 0 days 1,959 sqft
2025-03-01 0 days 1,988 sqft
Gadsden's median listing age (time on market) for 2025-03-01 was 0 days.

Gadsden's median square footage for active listings during the 2025-03-01 period was 1,988 sqft. One year prior, the average listing was 1,900 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).