Georgetown FHA Loan Rates, Closing Costs & Stats
Georgetown, SC
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.
Georgetown's 54 lenders originated 144 FHA loans during 2022. The total origination value was $33,430,000, with an average FHA loan value of $232,153.
Georgetown FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Georgetown
averaged
-0.83%
for the week of 2023-11-24, compared to the national average (all FHA variants) of
0% for the same period.
Georgetown's average FHA mortgage closing costs are $7,710.
The average rate for the prior week (2023-11-17) was
6.77% and
one month ago for the week of 2023-10-20, the
average rate was 6.78%.
The average rate one year ago was 6%.
For refis of the same type during the week of 2023-11-24, the average rate
was -1.28%.
Georgetown 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 Georgetown level.
The top Georgetown FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
18 FHA loans originated. Their average total fees are
$10,474, which is $720
lower than the next largest lender,
GUILD MORTGAGE COMPANY.
The lowest fee Georgetown FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($10,474), GUILD MORTGAGE COMPANY ($11,194), .
The lowest rate Georgetown FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (4.53%), GUILD MORTGAGE COMPANY (4.73%), .
Georgetown FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
GEORGETOWN, SC | GEORGETOWN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
GEORGETOWN, SC | GEORGETOWN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Georgetown (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 | $389,750 (9.9%) | $580,223 (6.2%) | 0.00 | 813 |
2018-02-01 | $372,450 (2.7%) | $549,377 (-0.4%) | 0.00 | 861 |
2018-03-01 | $379,000 (3.6%) | $547,061 (-1.1%) | 0.00 | 918 |
2018-04-01 | $383,450 (3.7%) | $559,797 (-0.1%) | 0.00 | 915 |
2018-05-01 | $377,450 (-0.1%) | $555,478 (-2.0%) | 0.00 | 942 |
2018-06-01 | $373,950 (-1.9%) | $558,663 (-2.7%) | 0.00 | 926 |
2018-07-01 | $393,725 (-1.3%) | $581,753 (-1.0%) | 0.00 | 893 |
2018-08-01 | $399,450 (0.0%) | $598,005 (2.2%) | 0.00 | 891 |
2018-09-01 | $399,000 (-0.2%) | $586,703 (-0.8%) | 0.00 | 896 |
2018-10-01 | $398,125 (-0.5%) | $583,435 (-1.0%) | 0.00 | 903 |
2018-11-01 | $383,125 (-4.1%) | $564,588 (-2.9%) | 0.00 | 937 |
2018-12-01 | $369,445 (-7.4%) | $552,314 (-6.0%) | 0.00 | 941 |
2019-01-01 | $369,900 (-5.1%) | $545,498 (-6.0%) | 0.00 | 899 |
2019-02-01 | $388,279 (4.3%) | $561,686 (2.2%) | 0.00 | 886 |
2019-03-01 | $393,671 (3.9%) | $653,610 (19.5%) | 0.00 | 911 |
2019-04-01 | $399,000 (4.1%) | $657,055 (17.4%) | 0.00 | 929 |
2019-05-01 | $398,750 (5.6%) | $573,409 (3.2%) | 0.00 | 917 |
2019-06-01 | $399,900 (6.9%) | $577,335 (3.3%) | 0.00 | 893 |
2019-07-01 | $415,673 (5.6%) | $578,390 (-0.6%) | 0.00 | 876 |
2019-08-01 | $417,387 (4.5%) | $577,135 (-3.5%) | 0.00 | 854 |
2019-09-01 | $407,551 (2.1%) | $570,080 (-2.8%) | 0.00 | 843 |
2019-10-01 | $399,950 (0.5%) | $565,747 (-3.0%) | 0.00 | 836 |
2019-11-01 | $399,900 (4.4%) | $573,371 (1.6%) | 0.00 | 812 |
2019-12-01 | $390,750 (5.8%) | $566,387 (2.6%) | 0.00 | 804 |
2020-01-01 | $386,950 (4.6%) | $566,482 (3.9%) | 0.00 | 773 |
2020-02-01 | $379,900 (-2.2%) | $554,941 (-1.2%) | 0.00 | 806 |
2020-03-01 | $379,900 (-3.5%) | $557,775 (-14.7%) | 0.00 | 788 |
2020-04-01 | $383,225 (-4.0%) | $554,560 (-15.6%) | 0.00 | 782 |
2020-05-01 | $384,900 (-3.5%) | $557,212 (-2.8%) | 0.00 | 763 |
2020-06-01 | $383,473 (-4.1%) | $545,457 (-5.5%) | 0.00 | 714 |
2020-07-01 | $385,604 (-7.2%) | $560,252 (-3.1%) | 0.00 | 650 |
2020-08-01 | $359,900 (-13.8%) | $548,016 (-5.1%) | 0.00 | 608 |
2020-09-01 | $330,850 (-18.8%) | $527,424 (-7.5%) | 0.00 | 582 |
2020-10-01 | $329,250 (-17.7%) | $523,464 (-7.5%) | 0.00 | 585 |
2020-11-01 | $349,500 (-12.6%) | $526,876 (-8.1%) | 0.00 | 567 |
2020-12-01 | $336,975 (-13.8%) | $531,521 (-6.2%) | 0.00 | 553 |
2021-01-01 | $324,900 (-16.0%) | $539,161 (-4.8%) | 0.00 | 503 |
2021-02-01 | $333,036 (-12.3%) | $563,421 (1.5%) | 0.00 | 443 |
2021-03-01 | $339,900 (-10.5%) | $584,473 (4.8%) | 0.00 | 356 |
2021-04-01 | $347,500 (-9.3%) | $631,614 (13.9%) | 0.00 | 319 |
2021-05-01 | $384,500 (-0.1%) | $677,341 (21.6%) | 0.00 | 268 |
2021-06-01 | $382,000 (-0.4%) | $677,102 (24.1%) | 0.00 | 252 |
2021-07-01 | $400,000 (3.7%) | $724,567 (29.3%) | 0.00 | 261 |
2021-08-01 | $399,924 (11.1%) | $688,027 (25.6%) | 0.00 | 289 |
2021-09-01 | $410,950 (24.2%) | $691,538 (31.1%) | 0.00 | 289 |
2021-10-01 | $399,900 (21.5%) | $701,118 (33.9%) | 0.00 | 282 |
2021-11-01 | $388,503 (11.2%) | $662,852 (25.8%) | 0.00 | 291 |
2021-12-01 | $361,250 (7.2%) | $668,529 (25.8%) | 0.00 | 283 |
2022-01-01 | $389,000 (19.7%) | $701,672 (30.1%) | 0.00 | 237 |
2022-02-01 | $363,950 (9.3%) | $715,556 (27.0%) | 0.00 | 182 |
2022-03-01 | $399,000 (17.4%) | $743,853 (27.3%) | 0.00 | 169 |
2022-04-01 | $425,000 (22.3%) | $765,810 (21.3%) | 0.00 | 176 |
2022-05-01 | $438,437 (14.0%) | $724,204 (6.9%) | 0.00 | 201 |
2022-06-01 | $484,950 (27.0%) | $752,712 (11.2%) | 0.00 | 230 |
2022-07-01 | $484,000 (21.0%) | $748,563 (3.3%) | 0.00 | 245 |
2022-08-01 | $499,529 (24.9%) | $777,349 (13.0%) | 0.00 | 267 |
2022-09-01 | $504,675 (22.8%) | $772,350 (11.7%) | 0.00 | 249 |
2022-10-01 | $529,998 (32.5%) | $771,100 (10.0%) | 0.00 | 238 |
2022-11-01 | $490,725 (26.3%) | $713,726 (7.7%) | 0.00 | 248 |
2022-12-01 | $445,000 (23.2%) | $667,453 (-0.2%) | 0.00 | 244 |
2023-01-01 | $476,000 (22.4%) | $671,795 (-4.3%) | 0.00 | 255 |
2023-02-01 | $459,993 (26.4%) | $702,994 (-1.8%) | 0.00 | 259 |
2023-03-01 | $462,495 (15.9%) | $683,458 (-8.1%) | 0.00 | 281 |
2023-04-01 | $459,990 (8.2%) | $701,975 (-8.3%) | 0.00 | 292 |
2023-05-01 | $431,975 (-1.5%) | $679,696 (-6.2%) | 0.00 | 274 |
2023-06-01 | $444,950 (-8.3%) | $671,904 (-10.7%) | 0.00 | 280 |
2023-07-01 | $462,400 (-4.5%) | $674,133 (-9.9%) | 0.00 | 282 |
2023-08-01 | $488,200 (-2.3%) | $715,023 (-8.0%) | 0.00 | 284 |
2023-09-01 | $484,500 (-4.0%) | $742,244 (-3.9%) | 0.00 | 309 |
2023-10-01 | $492,348 (-7.1%) | $765,198 (-0.8%) | 0.00 | 332 |
Georgetown's median listing price comes in at 0% of the national average.
Georgetown's average listing price for 2023-10-01 was $765,198, a difference of $-5,902 (-0.8%) versus the prior year and $22,954 versus the prior month.
For the 2023-10-01 period, Georgetown had 332 MLS listings, a difference of 23 listings (7%) versus the prior month and 94 listings (39%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Georgetown (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,101 sqft |
2018-02-01 | 0 days | 2,089 sqft |
2018-03-01 | 0 days | 2,101 sqft |
2018-04-01 | 0 days | 2,101 sqft |
2018-05-01 | 0 days | 2,101 sqft |
2018-06-01 | 0 days | 2,101 sqft |
2018-07-01 | 0 days | 2,101 sqft |
2018-08-01 | 0 days | 2,201 sqft |
2018-09-01 | 0 days | 2,201 sqft |
2018-10-01 | 0 days | 2,201 sqft |
2018-11-01 | 0 days | 2,101 sqft |
2018-12-01 | 0 days | 2,001 sqft |
2019-01-01 | 0 days | 2,001 sqft |
2019-02-01 | 0 days | 2,101 sqft |
2019-03-01 | 0 days | 2,058 sqft |
2019-04-01 | 0 days | 2,001 sqft |
2019-05-01 | 0 days | 1,994 sqft |
2019-06-01 | 0 days | 2,001 sqft |
2019-07-01 | 0 days | 2,085 sqft |
2019-08-01 | 0 days | 2,079 sqft |
2019-09-01 | 0 days | 2,063 sqft |
2019-10-01 | 0 days | 2,052 sqft |
2019-11-01 | 0 days | 2,051 sqft |
2019-12-01 | 0 days | 2,013 sqft |
2020-01-01 | 0 days | 2,022 sqft |
2020-02-01 | 0 days | 1,951 sqft |
2020-03-01 | 0 days | 1,950 sqft |
2020-04-01 | 0 days | 1,950 sqft |
2020-05-01 | 0 days | 1,950 sqft |
2020-06-01 | 0 days | 1,950 sqft |
2020-07-01 | 0 days | 1,950 sqft |
2020-08-01 | 0 days | 1,901 sqft |
2020-09-01 | 0 days | 1,850 sqft |
2020-10-01 | 0 days | 1,850 sqft |
2020-11-01 | 0 days | 1,849 sqft |
2020-12-01 | 0 days | 1,838 sqft |
2021-01-01 | 0 days | 1,846 sqft |
2021-02-01 | 0 days | 1,872 sqft |
2021-03-01 | 0 days | 1,851 sqft |
2021-04-01 | 0 days | 1,911 sqft |
2021-05-01 | 0 days | 2,016 sqft |
2021-06-01 | 0 days | 1,983 sqft |
2021-07-01 | 0 days | 1,984 sqft |
2021-08-01 | 0 days | 2,016 sqft |
2021-09-01 | 0 days | 2,025 sqft |
2021-10-01 | 0 days | 2,007 sqft |
2021-11-01 | 0 days | 1,990 sqft |
2021-12-01 | 0 days | 1,935 sqft |
2022-01-01 | 0 days | 1,939 sqft |
2022-02-01 | 0 days | 1,925 sqft |
2022-03-01 | 0 days | 1,890 sqft |
2022-04-01 | 0 days | 1,900 sqft |
2022-05-01 | 0 days | 2,033 sqft |
2022-06-01 | 0 days | 2,176 sqft |
2022-07-01 | 0 days | 2,155 sqft |
2022-08-01 | 0 days | 2,190 sqft |
2022-09-01 | 0 days | 2,168 sqft |
2022-10-01 | 0 days | 2,174 sqft |
2022-11-01 | 0 days | 2,102 sqft |
2022-12-01 | 0 days | 2,038 sqft |
2023-01-01 | 0 days | 2,107 sqft |
2023-02-01 | 0 days | 2,086 sqft |
2023-03-01 | 0 days | 2,102 sqft |
2023-04-01 | 0 days | 2,056 sqft |
2023-05-01 | 0 days | 1,873 sqft |
2023-06-01 | 0 days | 1,884 sqft |
2023-07-01 | 0 days | 1,850 sqft |
2023-08-01 | 0 days | 1,895 sqft |
2023-09-01 | 0 days | 1,884 sqft |
2023-10-01 | 0 days | 1,874 sqft |
Georgetown's median square footage for active listings during the 2023-10-01 period was 1,874 sqft. One year prior, the average listing was 2,174 sqft.