Greensboro FHA Loans
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 179 lenders originated 3,138 FHA loans during 2021. The total origination value was $621,870,000, with an average FHA loan value of $198,174.
Greensboro FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Greensboro
averaged
5.36%
for the week of 2022-05-13, compared to the national average (all FHA variants) of
5.361% for the same period.
The average rate for the prior week (2022-05-06) was
5.29% and
one month ago for the week of 2022-04-08, the
average rate was 5.16%.
The average rate one year ago was 2.97%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.13%.
Greensboro FHA Loan Lenders by Rates & Fees
The below table looks at the average fees 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
442 FHA loans originated. Their average total fees are
$5,760, which is $902
lower than the next largest lender,
MOVEMENT MORTGAGE, LLC.
The lowest fee Greensboro FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($2,360), Bank of America ($3,703), Mr. Cooper ( Nationstar Mortgage ) ($3,910), LAKEVIEW LOAN SERVICING, LLC ($4,098) and PLANET HOME LENDING, LLC ($4,163).
The lowest rate Greensboro FHA lenders (with over 10 loans originated) are
Bank of America (2.65%), HOMEBRIDGE FINANCIAL SERVICES, INC. (2.69%), DHI MORTGAGE COMPANY, LTD. (2.74%), QUICKEN LOANS, LLC (2.75%) and PLANET HOME LENDING, LLC (2.77%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Greensboro (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 | $200,495 (14.3%) | $302,846 (17.0%) | 0.74 | 2,527 |
2018-02-01 | $211,950 (18.1%) | $309,632 (14.9%) | 0.76 | 2,449 |
2018-03-01 | $225,000 (20.0%) | $317,926 (15.3%) | 0.78 | 2,430 |
2018-04-01 | $242,440 (23.7%) | $326,497 (14.8%) | 0.81 | 2,400 |
2018-05-01 | $240,500 (15.4%) | $327,174 (10.5%) | 0.80 | 2,494 |
2018-06-01 | $239,900 (16.2%) | $325,713 (9.7%) | 0.80 | 2,579 |
2018-07-01 | $241,950 (21.0%) | $324,205 (10.6%) | 0.81 | 2,568 |
2018-08-01 | $242,450 (20.5%) | $304,209 (4.1%) | 0.81 | 2,229 |
2018-09-01 | $245,000 (17.2%) | $305,716 (3.0%) | 0.82 | 2,216 |
2018-10-01 | $247,450 (17.9%) | $305,190 (1.8%) | 0.83 | 2,218 |
2018-11-01 | $243,440 (20.2%) | $301,108 (0.4%) | 0.82 | 2,192 |
2018-12-01 | $239,990 (20.1%) | $301,175 (1.8%) | 0.82 | 2,094 |
2019-01-01 | $244,465 (21.9%) | $306,779 (1.3%) | 0.84 | 1,886 |
2019-02-01 | $250,000 (18.0%) | $305,383 (-1.4%) | 0.84 | 1,791 |
2019-03-01 | $263,243 (17.0%) | $317,125 (-0.3%) | 0.86 | 1,742 |
2019-04-01 | $268,900 (10.9%) | $327,607 (0.3%) | 0.85 | 1,736 |
2019-05-01 | $275,000 (14.4%) | $331,275 (1.3%) | 0.85 | 1,846 |
2019-06-01 | $266,935 (11.3%) | $327,594 (0.6%) | 0.82 | 1,951 |
2019-07-01 | $269,800 (11.5%) | $327,636 (1.1%) | 0.84 | 1,944 |
2019-08-01 | $266,254 (9.8%) | $322,650 (6.1%) | 0.84 | 1,933 |
2019-09-01 | $264,746 (8.1%) | $321,646 (5.2%) | 0.84 | 1,900 |
2019-10-01 | $264,591 (6.9%) | $321,659 (5.4%) | 0.84 | 1,982 |
2019-11-01 | $265,000 (8.9%) | $323,303 (7.4%) | 0.86 | 1,903 |
2019-12-01 | $266,900 (11.2%) | $323,771 (7.5%) | 0.89 | 1,675 |
2020-01-01 | $265,000 (8.4%) | $322,033 (5.0%) | 0.88 | 1,525 |
2020-02-01 | $265,000 (6.0%) | $323,053 (5.8%) | 0.86 | 1,405 |
2020-03-01 | $270,000 (2.6%) | $333,720 (5.2%) | 0.84 | 1,394 |
2020-04-01 | $260,000 (-3.3%) | $330,777 (1.0%) | 0.81 | 1,495 |
2020-05-01 | $284,990 (3.6%) | $353,737 (6.8%) | 0.86 | 1,439 |
2020-06-01 | $292,000 (9.4%) | $374,633 (14.4%) | 0.85 | 1,340 |
2020-07-01 | $298,250 (10.6%) | $372,815 (13.8%) | 0.85 | 1,199 |
2020-08-01 | $299,900 (12.6%) | $376,512 (16.7%) | 0.86 | 1,114 |
2020-09-01 | $297,759 (12.5%) | $377,438 (17.4%) | 0.85 | 1,019 |
2020-10-01 | $280,000 (5.8%) | $365,318 (13.6%) | 0.80 | 992 |
2020-11-01 | $276,900 (4.5%) | $361,739 (11.9%) | 0.79 | 928 |
2020-12-01 | $267,450 (0.2%) | $359,580 (11.1%) | 0.78 | 924 |
2021-01-01 | $274,999 (3.8%) | $373,374 (15.9%) | 0.81 | 721 |
2021-02-01 | $270,648 (2.1%) | $366,721 (13.5%) | 0.78 | 626 |
2021-03-01 | $261,508 (-3.2%) | $357,584 (7.2%) | 0.73 | 538 |
2021-04-01 | $257,400 (-1.0%) | $354,486 (7.2%) | 0.69 | 548 |
2021-05-01 | $250,000 (-12.3%) | $341,313 (-3.5%) | 0.66 | 585 |
2021-06-01 | $259,950 (-11.0%) | $348,616 (-6.9%) | 0.68 | 637 |
2021-07-01 | $254,950 (-14.5%) | $347,762 (-6.7%) | 0.66 | 681 |
2021-08-01 | $262,450 (-12.5%) | $357,829 (-5.0%) | 0.69 | 793 |
2021-09-01 | $262,745 (-11.8%) | $354,480 (-6.1%) | 0.69 | 860 |
2021-10-01 | $259,900 (-7.2%) | $355,863 (-2.6%) | 0.68 | 832 |
2021-11-01 | $268,750 (-2.9%) | $356,922 (-1.3%) | 0.71 | 776 |
2021-12-01 | $266,500 (-0.4%) | $362,331 (0.8%) | 0.71 | 655 |
2022-01-01 | $269,900 (-1.9%) | $370,295 (-0.8%) | 0.72 | 507 |
2022-02-01 | $271,950 (0.5%) | $375,784 (2.5%) | 0.69 | 426 |
2022-03-01 | $272,000 (4.0%) | $379,491 (6.1%) | 0.67 | 402 |
2022-04-01 | $295,000 (14.6%) | $396,817 (11.9%) | 0.69 | 427 |
Greensboro's median listing price comes in at 69% of the national average.
Greensboro's average listing price for 2022-04-01 was $396,817, a difference of $42,331 (11.9%) versus the prior year and $17,326 versus the prior month.
For the 2022-04-01 period, Greensboro had 427 MLS listings, a difference of 25 listings (6%) versus the prior month and -121 listings (-22%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Greensboro (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 105 days | 1,796 sqft |
2018-02-01 | 108 days | 2,069 sqft |
2018-03-01 | 92 days | 2,130 sqft |
2018-04-01 | 74 days | 2,279 sqft |
2018-05-01 | 68 days | 2,271 sqft |
2018-06-01 | 66 days | 2,269 sqft |
2018-07-01 | 74 days | 2,271 sqft |
2018-08-01 | 70 days | 2,238 sqft |
2018-09-01 | 72 days | 2,225 sqft |
2018-10-01 | 71 days | 2,203 sqft |
2018-11-01 | 74 days | 2,178 sqft |
2018-12-01 | 82 days | 2,158 sqft |
2019-01-01 | 93 days | 2,193 sqft |
2019-02-01 | 84 days | 2,220 sqft |
2019-03-01 | 66 days | 2,164 sqft |
2019-04-01 | 57 days | 2,144 sqft |
2019-05-01 | 55 days | 2,203 sqft |
2019-06-01 | 57 days | 2,200 sqft |
2019-07-01 | 60 days | 2,130 sqft |
2019-08-01 | 63 days | 2,184 sqft |
2019-09-01 | 65 days | 2,296 sqft |
2019-10-01 | 58 days | 2,131 sqft |
2019-11-01 | 65 days | 2,104 sqft |
2019-12-01 | 78 days | 2,348 sqft |
2020-01-01 | 86 days | 2,116 sqft |
2020-02-01 | 82 days | 2,086 sqft |
2020-03-01 | 54 days | 2,038 sqft |
2020-04-01 | 53 days | 2,025 sqft |
2020-05-01 | 64 days | 2,086 sqft |
2020-06-01 | 61 days | 2,068 sqft |
2020-07-01 | 61 days | 2,153 sqft |
2020-08-01 | 52 days | 2,205 sqft |
2020-09-01 | 55 days | 2,426 sqft |
2020-10-01 | 40 days | 2,060 sqft |
2020-11-01 | 48 days | 2,093 sqft |
2020-12-01 | 51 days | 2,041 sqft |
2021-01-01 | 61 days | 1,903 sqft |
2021-02-01 | 55 days | 1,874 sqft |
2021-03-01 | 46 days | 1,985 sqft |
2021-04-01 | 40 days | 2,106 sqft |
2021-05-01 | 38 days | 2,213 sqft |
2021-06-01 | 36 days | 1,878 sqft |
2021-07-01 | 35 days | 1,887 sqft |
2021-08-01 | 36 days | 1,727 sqft |
2021-09-01 | 36 days | 2,058 sqft |
2021-10-01 | 43 days | 2,319 sqft |
2021-11-01 | 45 days | 2,330 sqft |
2021-12-01 | 50 days | 2,148 sqft |
2022-01-01 | 58 days | 1,642 sqft |
2022-02-01 | 49 days | 1,608 sqft |
2022-03-01 | 40 days | 1,560 sqft |
2022-04-01 | 33 days | 1,627 sqft |
Greensboro's median square footage for active listings during the 2022-04-01 period was 1,627 sqft. One year prior, the average listing was 2,106 sqft.