Greensboro FHA Loan Rates, Closing Costs & Stats
GREENSBORO-HIGH POINT, 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.
Greensboro's 171 lenders originated 2,102 FHA loans during 2022. The total origination value was $467,340,000, with an average FHA loan value of $222,331.
Greensboro FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Greensboro
averaged
6.15%
for the week of 2023-03-17, compared to the national average (all FHA variants) of
6.45% for the same period.
Greensboro's average FHA mortgage closing costs are $6,811.
The average rate for the prior week (2023-03-10) was
6.29% and
one month ago for the week of 2023-02-10, the
average rate was 5.9%.
The average rate one year ago was 3.59%.
For refis of the same type during the week of 2023-03-17, the average rate
was 4.83%.
Greensboro 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 Greensboro level.
The top Greensboro FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
288 FHA loans originated. Their average total fees are
$8,556, which is $41
lower than the next largest lender,
MOVEMENT MORTGAGE, LLC.
The lowest fee Greensboro FHA lenders (with over 10 loans originated) are
Alcova Mortgage LLC ($6,581), NEWREZ LLC ($7,085), LAKEVIEW LOAN SERVICING, LLC ($7,327), HOMESTAR FINANCIAL CORPORATION ($7,459) and PENNYMAC LOAN SERVICES, LLC ($7,821).
The lowest rate Greensboro FHA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (3.97%), DHI MORTGAGE COMPANY, LTD. (4.04%), AMERICAN FINANCIAL RESOURCES, INC. (4.08%), LAKEVIEW LOAN SERVICING, LLC (4.23%) and LOANPAL, LLC (4.26%).
Greensboro FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| GREENSBORO-HIGH POINT, NC | GUILFORD | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| GREENSBORO-HIGH POINT, NC | RANDOLPH | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| GREENSBORO-HIGH POINT, NC | ROCKINGHAM | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| GREENSBORO-HIGH POINT, NC | GUILFORD | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| GREENSBORO-HIGH POINT, NC | RANDOLPH | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| GREENSBORO-HIGH POINT, NC | ROCKINGHAM | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Greensboro (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 | $204,995 (14.2%) | $308,015 (14.9%) | 0.76 | 2,358 |
| 2018-02-01 | $214,226 (16.2%) | $314,275 (14.1%) | 0.78 | 2,283 |
| 2018-03-01 | $225,495 (20.1%) | $321,900 (15.1%) | 0.79 | 2,266 |
| 2018-04-01 | $242,000 (21.1%) | $329,792 (15.0%) | 0.82 | 2,246 |
| 2018-05-01 | $244,000 (16.2%) | $330,958 (11.2%) | 0.81 | 2,352 |
| 2018-06-01 | $239,900 (11.9%) | $329,236 (9.5%) | 0.80 | 2,405 |
| 2018-07-01 | $245,000 (17.2%) | $326,058 (9.9%) | 0.82 | 2,400 |
| 2018-08-01 | $246,885 (16.7%) | $306,448 (3.5%) | 0.83 | 2,094 |
| 2018-09-01 | $249,000 (15.8%) | $308,872 (2.5%) | 0.84 | 2,085 |
| 2018-10-01 | $247,465 (14.6%) | $306,292 (0.6%) | 0.84 | 2,111 |
| 2018-11-01 | $244,950 (20.4%) | $301,644 (-0.3%) | 0.83 | 2,089 |
| 2018-12-01 | $246,115 (23.4%) | $303,301 (1.2%) | 0.85 | 1,999 |
| 2019-01-01 | $249,900 (21.9%) | $307,296 (-0.2%) | 0.86 | 1,820 |
| 2019-02-01 | $254,400 (18.8%) | $306,679 (-2.4%) | 0.86 | 1,721 |
| 2019-03-01 | $260,714 (15.6%) | $316,865 (-1.6%) | 0.85 | 1,679 |
| 2019-04-01 | $265,000 (9.5%) | $327,019 (-0.8%) | 0.84 | 1,687 |
| 2019-05-01 | $269,900 (10.6%) | $328,517 (-0.7%) | 0.84 | 1,788 |
| 2019-06-01 | $264,485 (10.3%) | $324,489 (-1.4%) | 0.83 | 1,865 |
| 2019-07-01 | $266,718 (8.9%) | $324,239 (-0.6%) | 0.83 | 1,886 |
| 2019-08-01 | $262,438 (6.3%) | $318,559 (4.0%) | 0.83 | 1,918 |
| 2019-09-01 | $261,010 (4.8%) | $315,724 (2.2%) | 0.83 | 1,922 |
| 2019-10-01 | $262,520 (6.1%) | $316,738 (3.4%) | 0.85 | 1,897 |
| 2019-11-01 | $264,373 (7.9%) | $318,501 (5.6%) | 0.87 | 1,833 |
| 2019-12-01 | $265,933 (8.1%) | $316,662 (4.4%) | 0.89 | 1,607 |
| 2020-01-01 | $264,900 (6.0%) | $314,016 (2.2%) | 0.88 | 1,447 |
| 2020-02-01 | $263,294 (3.5%) | $315,088 (2.7%) | 0.86 | 1,351 |
| 2020-03-01 | $268,975 (3.2%) | $324,229 (2.3%) | 0.84 | 1,347 |
| 2020-04-01 | $260,623 (-1.7%) | $324,129 (-0.9%) | 0.82 | 1,410 |
| 2020-05-01 | $284,500 (5.4%) | $346,817 (5.6%) | 0.86 | 1,371 |
| 2020-06-01 | $291,748 (10.3%) | $370,055 (14.0%) | 0.86 | 1,253 |
| 2020-07-01 | $296,578 (11.2%) | $368,533 (13.7%) | 0.86 | 1,135 |
| 2020-08-01 | $299,000 (13.9%) | $372,479 (16.9%) | 0.86 | 1,066 |
| 2020-09-01 | $297,175 (13.9%) | $374,354 (18.6%) | 0.85 | 993 |
| 2020-10-01 | $284,900 (8.5%) | $361,794 (14.2%) | 0.82 | 966 |
| 2020-11-01 | $264,500 (0.1%) | $339,826 (6.7%) | 0.77 | 923 |
| 2020-12-01 | $257,695 (-3.1%) | $339,747 (7.3%) | 0.76 | 910 |
| 2021-01-01 | $260,000 (-1.9%) | $347,303 (10.6%) | 0.78 | 731 |
| 2021-02-01 | $248,195 (-5.7%) | $345,503 (9.7%) | 0.72 | 630 |
| 2021-03-01 | $252,450 (-6.1%) | $356,236 (9.9%) | 0.72 | 550 |
| 2021-04-01 | $250,000 (-4.1%) | $349,497 (7.8%) | 0.68 | 548 |
| 2021-05-01 | $248,440 (-12.7%) | $342,300 (-1.3%) | 0.66 | 605 |
| 2021-06-01 | $255,348 (-12.5%) | $346,665 (-6.3%) | 0.67 | 673 |
| 2021-07-01 | $250,000 (-15.7%) | $340,000 (-7.7%) | 0.66 | 745 |
| 2021-08-01 | $256,259 (-14.3%) | $353,268 (-5.2%) | 0.68 | 857 |
| 2021-09-01 | $258,000 (-13.2%) | $350,411 (-6.4%) | 0.69 | 909 |
| 2021-10-01 | $255,000 (-10.5%) | $356,040 (-1.6%) | 0.68 | 898 |
| 2021-11-01 | $259,950 (-1.7%) | $356,073 (4.8%) | 0.69 | 820 |
| 2021-12-01 | $259,950 (0.9%) | $365,775 (7.7%) | 0.70 | 685 |
| 2022-01-01 | $274,950 (5.8%) | $375,188 (8.0%) | 0.74 | 559 |
| 2022-02-01 | $274,999 (10.8%) | $381,221 (10.3%) | 0.71 | 479 |
| 2022-03-01 | $274,975 (8.9%) | $383,215 (7.6%) | 0.69 | 470 |
| 2022-04-01 | $299,000 (19.6%) | $402,895 (15.3%) | 0.71 | 486 |
| 2022-05-01 | $319,394 (28.6%) | $407,335 (19.0%) | 0.73 | 645 |
| 2022-06-01 | $337,000 (32.0%) | $405,690 (17.0%) | 0.75 | 777 |
| 2022-07-01 | $324,900 (30.0%) | $395,614 (16.4%) | 0.73 | 908 |
| 2022-08-01 | $324,925 (26.8%) | $402,173 (13.8%) | 0.75 | 941 |
| 2022-09-01 | $325,245 (26.1%) | $395,917 (13.0%) | 0.76 | 970 |
| 2022-10-01 | $324,800 (27.4%) | $390,178 (9.6%) | 0.76 | 1,038 |
| 2022-11-01 | $321,493 (23.7%) | $391,867 (10.1%) | 0.77 | 1,080 |
| 2022-12-01 | $315,000 (21.2%) | $388,807 (6.3%) | 0.78 | 1,034 |
| 2023-01-01 | $321,495 (16.9%) | $388,532 (3.6%) | 0.79 | 903 |
| 2023-02-01 | $324,325 (17.9%) | $400,632 (5.1%) | 0.78 | 828 |
Greensboro's median listing price comes in at 78% of the national average.
Greensboro's average listing price for 2023-02-01 was $400,632, a difference of $19,411 (5.1%) versus the prior year and $12,100 versus the prior month.
For the 2023-02-01 period, Greensboro had 828 MLS listings, a difference of -75 listings (-8%) versus the prior month and 349 listings (73%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Greensboro (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 106 days | 1,906 sqft |
| 2018-02-01 | 108 days | 2,079 sqft |
| 2018-03-01 | 93 days | 2,152 sqft |
| 2018-04-01 | 75 days | 2,292 sqft |
| 2018-05-01 | 69 days | 2,305 sqft |
| 2018-06-01 | 68 days | 2,295 sqft |
| 2018-07-01 | 75 days | 2,281 sqft |
| 2018-08-01 | 67 days | 2,240 sqft |
| 2018-09-01 | 70 days | 2,232 sqft |
| 2018-10-01 | 71 days | 2,211 sqft |
| 2018-11-01 | 75 days | 2,193 sqft |
| 2018-12-01 | 82 days | 2,174 sqft |
| 2019-01-01 | 93 days | 2,199 sqft |
| 2019-02-01 | 85 days | 2,228 sqft |
| 2019-03-01 | 72 days | 2,321 sqft |
| 2019-04-01 | 57 days | 2,435 sqft |
| 2019-05-01 | 54 days | 2,457 sqft |
| 2019-06-01 | 57 days | 2,323 sqft |
| 2019-07-01 | 60 days | 2,295 sqft |
| 2019-08-01 | 60 days | 2,166 sqft |
| 2019-09-01 | 60 days | 2,185 sqft |
| 2019-10-01 | 61 days | 2,210 sqft |
| 2019-11-01 | 67 days | 2,208 sqft |
| 2019-12-01 | 80 days | 2,277 sqft |
| 2020-01-01 | 87 days | 2,212 sqft |
| 2020-02-01 | 86 days | 2,217 sqft |
| 2020-03-01 | 53 days | 2,201 sqft |
| 2020-04-01 | 55 days | 2,135 sqft |
| 2020-05-01 | 66 days | 2,218 sqft |
| 2020-06-01 | 59 days | 2,267 sqft |
| 2020-07-01 | 58 days | 2,159 sqft |
| 2020-08-01 | 50 days | 2,283 sqft |
| 2020-09-01 | 49 days | 2,400 sqft |
| 2020-10-01 | 38 days | 2,394 sqft |
| 2020-11-01 | 59 days | 2,178 sqft |
| 2020-12-01 | 71 days | 2,065 sqft |
| 2021-01-01 | 78 days | 2,050 sqft |
| 2021-02-01 | 69 days | 2,020 sqft |
| 2021-03-01 | 45 days | 1,943 sqft |
| 2021-04-01 | 47 days | 2,161 sqft |
| 2021-05-01 | 47 days | 2,262 sqft |
| 2021-06-01 | 45 days | 2,044 sqft |
| 2021-07-01 | 41 days | 2,012 sqft |
| 2021-08-01 | 37 days | 2,001 sqft |
| 2021-09-01 | 38 days | 2,168 sqft |
| 2021-10-01 | 44 days | 2,260 sqft |
| 2021-11-01 | 46 days | 2,387 sqft |
| 2021-12-01 | 51 days | 2,039 sqft |
| 2022-01-01 | 58 days | 1,867 sqft |
| 2022-02-01 | 51 days | 1,885 sqft |
| 2022-03-01 | 40 days | 1,776 sqft |
| 2022-04-01 | 34 days | 1,985 sqft |
| 2022-05-01 | 30 days | 2,011 sqft |
| 2022-06-01 | 31 days | 2,036 sqft |
| 2022-07-01 | 35 days | 1,818 sqft |
| 2022-08-01 | 39 days | 1,779 sqft |
| 2022-09-01 | 44 days | 1,786 sqft |
| 2022-10-01 | 45 days | 2,029 sqft |
| 2022-11-01 | 49 days | 1,857 sqft |
| 2022-12-01 | 61 days | 1,780 sqft |
| 2023-01-01 | 66 days | 1,788 sqft |
| 2023-02-01 | 53 days | 1,789 sqft |
Greensboro's median square footage for active listings during the 2023-02-01 period was 1,789 sqft. One year prior, the average listing was 1,885 sqft.