Goldsboro FHA Loan Rates, Closing Costs & Stats

GOLDSBORO, NC

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    • 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.

    Goldsboro's 70 lenders originated 304 FHA loans during 2023. The total origination value was $65,370,000, with an average FHA loan value of $215,033.

    Goldsboro FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Goldsboro averaged 6.39% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Goldsboro's average FHA mortgage closing costs are $7,085.

    The average rate for the prior week (2024-04-12) was 6.28% and one month ago for the week of 2024-03-15, the average rate was 6.45%.

    The average rate one year ago was 6.07%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.02%.

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

    Goldsboro 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 Goldsboro level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 63 6.62% $10,348
    QUICKEN LOANS, LLC 23 6.32% $8,173
    UNITED WHOLESALE MORTGAGE, LLC 19 6.45% $10,363
    MOVEMENT MORTGAGE, LLC 17 6.63% $9,242
    American Security Mortgage Corp. 15 6.23% $8,228
    CORNERSTONE HOME LENDING, INC. 12 6.41% $13,205
    MICHIGAN MUTUAL, INC. 6 6.31% $9,380
    LOANDEPOT.COM, LLC 6 6.12% $9,891
    Integrity Home Mortgage Corp 6 6.54% $9,961
    Alcova Mortgage LLC 6 6.75% $8,227
    CMG MORTGAGE, INC. 5 6.55% $8,867
    BROKER SOLUTIONS, INC. 5 6.82% $8,670
    VELOCIO MORTGAGE L.L.C. 5 5.92% $9,660
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 7.10% $8,412
    CROSSCOUNTRY MORTGAGE, LLC 4 6.41% $8,258
    HOMESIDE FINANCIAL, LLC 4 6.31% $9,668
    SUCCESS MORTGAGE PARTNERS, INC. 4 6.66% $12,859
    Truist 4 6.34% $7,205
    AMERISAVE MORTGAGE CORPORATION 3 5.63% $13,521
    VILLAGE CAPITAL MORTGAGE 3 6.75% $3,838
    NFM, INC. 3 6.21% $11,549
    GoPrime Mortgage, Inc. 3 6.75% $10,521
    GUARANTEED RATE, INC. 3 6.31% $9,906
    PENNYMAC LOAN SERVICES, LLC 2 6.00% $8,822
    Bank of England 2 6.88% $8,456
    Equity Prime Mortgage LLC 2 6.75% $8,665
    Mr. Cooper ( Nationstar Mortgage ) 2 6.56% $13,194
    NEWREZ LLC 2 6.25% $7,894
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.13% $9,729
    FBC MORTGAGE, LLC 2 6.06% $10,209
    TOWNE MORTGAGE COMPANY 2 6.49% $10,980
    Wells Fargo Bank 2 6.31% $9,620
    Carrington Mortgage Services, LLC 2 6.13% $9,150
    PENTAGON FEDERAL CREDIT UNION 2 6.00% $10,762
    INTERCOASTAL MORTGAGE COMPANY 2 7.13% $8,010
    ZILLOW HOME LOANS, LLC 1 6.50% $12,597
    AMERICAN FINANCIAL NETWORK, INC. 1 5.50% $11,752
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $12,663
    AMERICAN FINANCING CORPORATION 1 6.38% $6,237
    Barrington Bank & Trust Company, N.A. 1 6.75% $11,975
    BETTER MORTGAGE CORPORATION 1 5.50% $11,957
    Blue Ridge Bank 1 6.13% $11,923
    CARDINAL FINANCIAL 1 7.75% $5,186
    ENVOY MORTGAGE, LTD 1 6.75% $9,728
    EQUITY RESOURCES, INC. 1 7.13% $7,234
    First-Citizens Bank & Trust Company 1 6.63% $8,784
    FREEDOM MORTGAGE CORPORATION 1 7.25% $6,936
    GUILD MORTGAGE COMPANY 1 6.13% $10,269
    HOMESPIRE MORTGAGE CORPORATION 1 7.25% $14,411
    Lakeview Community Capital, LLC 1 5.75% $6,982
    LOANPAL, LLC 1 7.63% $15,919
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.50% $10,573
    Nations Lending Corporation 1 5.75% $8,049
    Northpointe Bank 1 6.63% $11,084
    NTFN, INC. 1 5.75% $5,347
    PANORAMA MORTGAGE GROUP, LLC 1 7.25% $8,480
    PNC Bank 1 6.88% $8,633
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $6,985
    Prosperity Home Mortgage, LLC 1 6.63% $12,359
    Regions Bank 1 6.63% $10,100
    Residential Mortgage Solutions, Inc. 1 6.99% $18,868
    RUOFF MORTGAGE COMPANY, INC. 1 7.50% $7,342
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.13% $7,747
    T2 FINANCIAL LLC 1 6.25% $6,751
    The Federal Savings Bank 1 5.63% $20,525
    TIDEWATER MORTGAGE SERVICES, INC. 1 7.50% $8,864
    TOP FLITE FINANCIAL, INC. 1 6.25% $8,740
    TOTAL MORTGAGE SERVICES, LLC 1 7.00% $6,380
    Towne Mortgage of the Carolinas, LLC 1 6.38% $10,855
    United Bank 1 5.63% $5,381

    The top Goldsboro FHA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 63 FHA loans originated. Their average total fees are $10,348, which is $2,175 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Goldsboro FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,173), American Security Mortgage Corp. ($8,228), MOVEMENT MORTGAGE, LLC ($9,242), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($10,348) and UNITED WHOLESALE MORTGAGE, LLC ($10,363).

    The lowest rate Goldsboro FHA lenders (with over 10 loans originated) are American Security Mortgage Corp. (6.23%), QUICKEN LOANS, LLC (6.32%), CORNERSTONE HOME LENDING, INC. (6.41%), UNITED WHOLESALE MORTGAGE, LLC (6.45%) and ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.62%).

    Goldsboro FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Goldsboro (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 $169,100 (3.0%) $178,120 (-0.2%) 0.00 458
    2018-02-01 $165,450 (1.1%) $175,936 (-0.2%) 0.00 432
    2018-03-01 $165,000 (1.8%) $179,209 (1.6%) 0.00 387
    2018-04-01 $164,975 (0.0%) $180,249 (-0.3%) 0.00 407
    2018-05-01 $165,975 (-1.3%) $179,851 (-1.7%) 0.00 416
    2018-06-01 $167,000 (0.0%) $180,710 (-0.6%) 0.00 416
    2018-07-01 $167,850 (1.8%) $183,400 (1.3%) 0.00 433
    2018-08-01 $164,925 (1.2%) $180,848 (0.9%) 0.00 445
    2018-09-01 $169,900 (3.4%) $183,337 (3.3%) 0.00 444
    2018-10-01 $173,700 (6.3%) $186,384 (6.3%) 0.00 404
    2018-11-01 $168,925 (3.3%) $183,715 (4.7%) 0.00 383
    2018-12-01 $169,900 (0.5%) $185,272 (3.9%) 0.00 363
    2019-01-01 $169,900 (0.5%) $184,869 (3.8%) 0.00 335
    2019-02-01 $175,075 (5.8%) $189,866 (7.9%) 0.00 325
    2019-03-01 $182,186 (10.4%) $193,069 (7.7%) 0.00 307
    2019-04-01 $188,900 (14.5%) $197,284 (9.5%) 0.00 293
    2019-05-01 $191,227 (15.2%) $198,677 (10.5%) 0.00 288
    2019-06-01 $185,900 (11.3%) $195,873 (8.4%) 0.00 293
    2019-07-01 $182,450 (8.7%) $193,270 (5.4%) 0.00 289
    2019-08-01 $181,213 (9.9%) $190,991 (5.6%) 0.00 282
    2019-09-01 $183,181 (7.8%) $192,042 (4.8%) 0.00 286
    2019-10-01 $182,863 (5.3%) $192,503 (3.3%) 0.00 285
    2019-11-01 $189,250 (12.0%) $190,803 (3.9%) 0.00 261
    2019-12-01 $189,000 (11.2%) $187,267 (1.1%) 0.00 254
    2020-01-01 $188,825 (11.1%) $186,880 (1.1%) 0.00 233
    2020-02-01 $191,400 (9.3%) $190,219 (0.2%) 0.00 205
    2020-03-01 $189,550 (4.0%) $188,567 (-2.3%) 0.00 210
    2020-04-01 $185,950 (-1.6%) $185,019 (-6.2%) 0.00 201
    2020-05-01 $189,900 (-0.7%) $186,682 (-6.0%) 0.00 161
    2020-06-01 $193,425 (4.1%) $199,095 (1.6%) 0.00 179
    2020-07-01 $200,750 (10.0%) $201,673 (4.4%) 0.00 147
    2020-08-01 $187,500 (3.5%) $198,544 (4.0%) 0.00 140
    2020-09-01 $186,950 (2.1%) $203,270 (5.9%) 0.00 127
    2020-10-01 $180,000 (-1.6%) $201,634 (4.7%) 0.00 110
    2020-11-01 $185,445 (-2.0%) $206,390 (8.2%) 0.00 119
    2020-12-01 $191,225 (1.2%) $213,047 (13.8%) 0.00 106
    2021-01-01 $195,000 (3.3%) $208,538 (11.6%) 0.00 104
    2021-02-01 $183,675 (-4.0%) $214,813 (12.9%) 0.00 94
    2021-03-01 $197,100 (4.0%) $207,966 (10.3%) 0.00 82
    2021-04-01 $218,188 (17.3%) $227,797 (23.1%) 0.00 77
    2021-05-01 $239,900 (26.3%) $238,175 (27.6%) 0.00 93
    2021-06-01 $227,425 (17.6%) $239,154 (20.1%) 0.00 102
    2021-07-01 $210,000 (4.6%) $227,590 (12.9%) 0.00 120
    2021-08-01 $217,033 (15.8%) $224,059 (12.9%) 0.00 129
    2021-09-01 $180,850 (-3.3%) $200,159 (-1.5%) 0.00 119
    2021-10-01 $189,900 (5.5%) $202,325 (0.3%) 0.00 116
    2021-11-01 $184,700 (-0.4%) $221,344 (7.3%) 0.00 97
    2021-12-01 $201,250 (5.2%) $230,060 (8.0%) 0.00 102
    2022-01-01 $247,900 (27.1%) $254,541 (22.1%) 0.00 96
    2022-02-01 $234,950 (27.9%) $247,651 (15.3%) 0.00 77
    2022-03-01 $226,150 (14.7%) $245,303 (18.0%) 0.00 69
    2022-04-01 $260,000 (19.2%) $270,018 (18.5%) 0.00 69
    2022-05-01 $235,950 (-1.7%) $278,970 (17.1%) 0.00 121
    2022-06-01 $223,575 (-1.7%) $293,665 (22.8%) 0.00 149
    2022-07-01 $240,000 (14.3%) $292,088 (28.3%) 0.00 179
    2022-08-01 $252,250 (16.2%) $277,075 (23.7%) 0.00 186
    2022-09-01 $243,520 (34.7%) $272,629 (36.2%) 0.00 197
    2022-10-01 $249,900 (31.6%) $285,517 (41.1%) 0.00 170
    2022-11-01 $249,900 (35.3%) $276,275 (24.8%) 0.00 195
    2022-12-01 $262,900 (30.6%) $285,292 (24.0%) 0.00 188
    2023-01-01 $263,175 (6.2%) $284,509 (11.8%) 0.00 164
    2023-02-01 $283,200 (20.5%) $289,028 (16.7%) 0.00 150
    2023-03-01 $290,400 (28.4%) $290,938 (18.6%) 0.00 123
    2023-04-01 $300,900 (15.7%) $306,925 (13.7%) 0.00 111
    2023-05-01 $306,725 (30.0%) $311,023 (11.5%) 0.00 122
    2023-06-01 $296,173 (32.5%) $302,374 (3.0%) 0.00 130
    2023-07-01 $282,900 (17.9%) $303,271 (3.8%) 0.00 126
    2023-08-01 $284,250 (12.7%) $299,822 (8.2%) 0.00 150
    2023-09-01 $285,000 (17.0%) $322,586 (18.3%) 0.00 170
    2023-10-01 $289,400 (15.8%) $322,304 (12.9%) 0.00 201
    2023-11-01 $286,015 (14.5%) $318,392 (15.2%) 0.00 225
    2023-12-01 $288,999 (9.9%) $319,590 (12.0%) 0.00 241
    2024-01-01 $289,925 (10.2%) $320,290 (12.6%) 0.00 231
    2024-02-01 $287,725 (1.6%) $317,123 (9.7%) 0.00 222
    2024-03-01 $280,000 (-3.6%) $315,486 (8.4%) 0.00 226
    Goldsboro's median listing price for 2024-03-01 was $280,000, a difference of $-10,400 (-3.6%) versus the prior year and $-7,725 versus the prior month.

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

    Goldsboro's average listing price for 2024-03-01 was $315,486, a difference of $24,548 (8.4%) versus the prior year and $-1,637 versus the prior month.

    For the 2024-03-01 period, Goldsboro had 226 MLS listings, a difference of 4 listings (2%) versus the prior month and 103 listings (84%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Goldsboro (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,863 sqft
    2018-02-01 0 days 1,807 sqft
    2018-03-01 0 days 1,852 sqft
    2018-04-01 0 days 1,859 sqft
    2018-05-01 0 days 1,846 sqft
    2018-06-01 0 days 1,834 sqft
    2018-07-01 0 days 1,860 sqft
    2018-08-01 0 days 1,856 sqft
    2018-09-01 0 days 1,858 sqft
    2018-10-01 0 days 1,889 sqft
    2018-11-01 0 days 1,870 sqft
    2018-12-01 0 days 1,907 sqft
    2019-01-01 0 days 1,924 sqft
    2019-02-01 0 days 1,983 sqft
    2019-03-01 0 days 2,000 sqft
    2019-04-01 0 days 2,047 sqft
    2019-05-01 0 days 2,099 sqft
    2019-06-01 0 days 2,109 sqft
    2019-07-01 0 days 2,101 sqft
    2019-08-01 0 days 2,066 sqft
    2019-09-01 0 days 2,030 sqft
    2019-10-01 0 days 2,010 sqft
    2019-11-01 0 days 1,939 sqft
    2019-12-01 0 days 1,866 sqft
    2020-01-01 0 days 1,916 sqft
    2020-02-01 0 days 2,000 sqft
    2020-03-01 0 days 1,925 sqft
    2020-04-01 0 days 1,902 sqft
    2020-05-01 0 days 1,939 sqft
    2020-06-01 0 days 2,038 sqft
    2020-07-01 0 days 2,139 sqft
    2020-08-01 0 days 2,085 sqft
    2020-09-01 0 days 2,015 sqft
    2020-10-01 0 days 1,939 sqft
    2020-11-01 0 days 1,856 sqft
    2020-12-01 0 days 1,860 sqft
    2021-01-01 0 days 1,770 sqft
    2021-02-01 0 days 1,693 sqft
    2021-03-01 0 days 1,862 sqft
    2021-04-01 0 days 1,840 sqft
    2021-05-01 0 days 1,958 sqft
    2021-06-01 0 days 1,928 sqft
    2021-07-01 0 days 1,877 sqft
    2021-08-01 0 days 1,853 sqft
    2021-09-01 0 days 1,755 sqft
    2021-10-01 0 days 1,611 sqft
    2021-11-01 0 days 1,748 sqft
    2021-12-01 0 days 1,826 sqft
    2022-01-01 0 days 1,874 sqft
    2022-02-01 0 days 1,867 sqft
    2022-03-01 0 days 1,769 sqft
    2022-04-01 0 days 1,883 sqft
    2022-05-01 0 days 1,928 sqft
    2022-06-01 0 days 2,043 sqft
    2022-07-01 0 days 1,916 sqft
    2022-08-01 0 days 1,846 sqft
    2022-09-01 0 days 1,764 sqft
    2022-10-01 0 days 1,807 sqft
    2022-11-01 0 days 1,811 sqft
    2022-12-01 0 days 1,912 sqft
    2023-01-01 0 days 1,874 sqft
    2023-02-01 0 days 1,858 sqft
    2023-03-01 0 days 1,909 sqft
    2023-04-01 0 days 1,919 sqft
    2023-05-01 0 days 2,002 sqft
    2023-06-01 0 days 1,831 sqft
    2023-07-01 0 days 1,911 sqft
    2023-08-01 0 days 1,881 sqft
    2023-09-01 0 days 1,893 sqft
    2023-10-01 0 days 1,946 sqft
    2023-11-01 0 days 1,905 sqft
    2023-12-01 0 days 1,796 sqft
    2024-01-01 0 days 1,793 sqft
    2024-02-01 0 days 1,746 sqft
    2024-03-01 0 days 1,782 sqft
    Goldsboro's median listing age (time on market) for 2024-03-01 was 0 days.

    Goldsboro's median square footage for active listings during the 2024-03-01 period was 1,782 sqft. One year prior, the average listing was 1,909 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).