Greenwood FHA Loan Rates, Closing Costs & Stats
Greenwood, 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.
Greenwood's 56 lenders originated 336 FHA loans during 2021. The total origination value was $50,390,000, with an average FHA loan value of $149,970.
Greenwood FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Greenwood
averaged
6.41%
for the week of 2023-01-27, compared to the national average (all FHA variants) of
6.186% for the same period.
Greenwood's average FHA mortgage closing costs are $6,020.
The average rate for the prior week (2023-01-20) was
6.18% and
one month ago for the week of 2022-12-23, the
average rate was 6.48%.
The average rate one year ago was 3.87%.
For refis of the same type during the week of 2023-01-27, the average rate
was 5.94%.
Greenwood 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 Greenwood level.
The top Greenwood FHA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with
47 FHA loans originated. Their average total fees are
$8,272, which is $3,350
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Greenwood FHA lenders (with over 10 loans originated) are
Mr. Cooper ( Nationstar Mortgage ) ($1,851), PENNYMAC LOAN SERVICES, LLC ($3,252), HOMESTAR FINANCIAL CORPORATION ($4,390), QUICKEN LOANS, LLC ($4,922) and CHURCHILL MORTGAGE CORPORATION ($6,660).
The lowest rate Greenwood FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.76%), CHURCHILL MORTGAGE CORPORATION (2.86%), HOMESTAR FINANCIAL CORPORATION (3.13%), ACOPIA, LLC (3.28%) and PENNYMAC LOAN SERVICES, LLC (3.37%).
Greenwood FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
GREENWOOD, SC | GREENWOOD | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Greenwood (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 | $182,000 (8.9%) | $249,675 (5.0%) | 0.00 | 196 |
2018-02-01 | $180,700 (13.0%) | $251,346 (3.7%) | 0.00 | 184 |
2018-03-01 | $192,150 (6.8%) | $262,126 (4.7%) | 0.00 | 198 |
2018-04-01 | $193,300 (-2.1%) | $265,555 (3.5%) | 0.00 | 207 |
2018-05-01 | $199,500 (-2.1%) | $272,244 (6.1%) | 0.00 | 216 |
2018-06-01 | $212,200 (12.0%) | $271,852 (8.8%) | 0.00 | 209 |
2018-07-01 | $224,900 (13.0%) | $279,087 (8.5%) | 0.00 | 198 |
2018-08-01 | $219,475 (14.0%) | $277,161 (8.0%) | 0.00 | 197 |
2018-09-01 | $216,000 (8.1%) | $278,230 (5.9%) | 0.00 | 202 |
2018-10-01 | $211,725 (6.3%) | $272,350 (2.5%) | 0.00 | 187 |
2018-11-01 | $219,885 (10.3%) | $278,371 (7.0%) | 0.00 | 183 |
2018-12-01 | $219,000 (19.3%) | $282,507 (11.5%) | 0.00 | 167 |
2019-01-01 | $208,450 (14.5%) | $278,183 (11.4%) | 0.00 | 163 |
2019-02-01 | $224,900 (24.5%) | $284,617 (13.2%) | 0.00 | 149 |
2019-03-01 | $232,893 (21.2%) | $296,190 (13.0%) | 0.00 | 143 |
2019-04-01 | $242,218 (25.3%) | $303,459 (14.3%) | 0.00 | 144 |
2019-05-01 | $268,675 (34.7%) | $319,446 (17.3%) | 0.00 | 176 |
2019-06-01 | $246,721 (16.3%) | $314,751 (15.8%) | 0.00 | 177 |
2019-07-01 | $241,212 (7.3%) | $310,585 (11.3%) | 0.00 | 200 |
2019-08-01 | $244,191 (11.3%) | $313,762 (13.2%) | 0.00 | 201 |
2019-09-01 | $257,302 (19.1%) | $321,156 (15.4%) | 0.00 | 193 |
2019-10-01 | $266,850 (26.0%) | $326,085 (19.7%) | 0.00 | 189 |
2019-11-01 | $259,900 (18.2%) | $314,310 (12.9%) | 0.00 | 191 |
2019-12-01 | $255,748 (16.8%) | $308,803 (9.3%) | 0.00 | 175 |
2020-01-01 | $268,000 (28.6%) | $306,810 (10.3%) | 0.00 | 175 |
2020-02-01 | $269,450 (19.8%) | $306,064 (7.5%) | 0.00 | 173 |
2020-03-01 | $287,450 (23.4%) | $316,649 (6.9%) | 0.00 | 164 |
2020-04-01 | $280,950 (16.0%) | $314,900 (3.8%) | 0.00 | 175 |
2020-05-01 | $292,300 (8.8%) | $321,261 (0.6%) | 0.00 | 175 |
2020-06-01 | $298,500 (21.0%) | $332,217 (5.6%) | 0.00 | 161 |
2020-07-01 | $299,450 (24.1%) | $341,625 (10.0%) | 0.00 | 131 |
2020-08-01 | $299,250 (22.6%) | $326,084 (3.9%) | 0.00 | 119 |
2020-09-01 | $296,975 (15.4%) | $324,285 (1.0%) | 0.00 | 125 |
2020-10-01 | $289,900 (8.6%) | $315,308 (-3.3%) | 0.00 | 129 |
2020-11-01 | $279,425 (7.5%) | $306,929 (-2.4%) | 0.00 | 110 |
2020-12-01 | $275,120 (7.6%) | $317,034 (2.7%) | 0.00 | 85 |
2021-01-01 | $252,500 (-5.8%) | $295,113 (-3.8%) | 0.00 | 73 |
2021-02-01 | $227,320 (-15.6%) | $276,387 (-9.7%) | 0.00 | 76 |
2021-03-01 | $263,425 (-8.4%) | $314,517 (-0.7%) | 0.00 | 69 |
2021-04-01 | $264,000 (-6.0%) | $340,819 (8.2%) | 0.00 | 54 |
2021-05-01 | $249,900 (-14.5%) | $298,464 (-7.1%) | 0.00 | 56 |
2021-06-01 | $230,575 (-22.8%) | $284,412 (-14.4%) | 0.00 | 58 |
2021-07-01 | $240,000 (-19.9%) | $309,066 (-9.5%) | 0.00 | 59 |
2021-08-01 | $244,220 (-18.4%) | $292,922 (-10.2%) | 0.00 | 80 |
2021-09-01 | $249,498 (-16.0%) | $269,485 (-16.9%) | 0.00 | 100 |
2021-10-01 | $240,750 (-17.0%) | $255,192 (-19.1%) | 0.00 | 108 |
2021-11-01 | $253,750 (-9.2%) | $266,806 (-13.1%) | 0.00 | 114 |
2021-12-01 | $260,698 (-5.2%) | $268,427 (-15.3%) | 0.00 | 118 |
2022-01-01 | $293,000 (16.0%) | $310,294 (5.1%) | 0.00 | 94 |
2022-02-01 | $295,375 (29.9%) | $310,846 (12.5%) | 0.00 | 107 |
2022-03-01 | $292,220 (10.9%) | $318,597 (1.3%) | 0.00 | 104 |
2022-04-01 | $300,000 (13.6%) | $351,790 (3.2%) | 0.00 | 99 |
2022-05-01 | $308,450 (23.4%) | $384,983 (29.0%) | 0.00 | 98 |
2022-06-01 | $297,500 (29.0%) | $374,559 (31.7%) | 0.00 | 110 |
2022-07-01 | $290,000 (20.8%) | $373,246 (20.8%) | 0.00 | 124 |
2022-08-01 | $296,625 (21.5%) | $363,600 (24.1%) | 0.00 | 133 |
2022-09-01 | $291,498 (16.8%) | $374,180 (38.9%) | 0.00 | 154 |
2022-10-01 | $284,200 (18.1%) | $369,601 (44.8%) | 0.00 | 163 |
2022-11-01 | $289,000 (13.9%) | $354,558 (32.9%) | 0.00 | 158 |
2022-12-01 | $275,990 (5.9%) | $345,263 (28.6%) | 0.00 | 156 |
Greenwood's median listing price comes in at 0% of the national average.
Greenwood's average listing price for 2022-12-01 was $345,263, a difference of $76,836 (28.6%) versus the prior year and $-9,295 versus the prior month.
For the 2022-12-01 period, Greenwood had 156 MLS listings, a difference of -2 listings (-1%) versus the prior month and 38 listings (32%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Greenwood (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,881 sqft |
2018-02-01 | 0 days | 1,868 sqft |
2018-03-01 | 0 days | 2,012 sqft |
2018-04-01 | 0 days | 1,906 sqft |
2018-05-01 | 0 days | 1,910 sqft |
2018-06-01 | 0 days | 1,904 sqft |
2018-07-01 | 0 days | 1,957 sqft |
2018-08-01 | 0 days | 2,048 sqft |
2018-09-01 | 0 days | 2,078 sqft |
2018-10-01 | 0 days | 2,079 sqft |
2018-11-01 | 0 days | 2,109 sqft |
2018-12-01 | 0 days | 2,096 sqft |
2019-01-01 | 0 days | 2,048 sqft |
2019-02-01 | 0 days | 2,046 sqft |
2019-03-01 | 0 days | 2,088 sqft |
2019-04-01 | 0 days | 2,099 sqft |
2019-05-01 | 0 days | 2,098 sqft |
2019-06-01 | 0 days | 2,123 sqft |
2019-07-01 | 0 days | 2,138 sqft |
2019-08-01 | 0 days | 2,161 sqft |
2019-09-01 | 0 days | 2,179 sqft |
2019-10-01 | 0 days | 2,190 sqft |
2019-11-01 | 0 days | 2,192 sqft |
2019-12-01 | 0 days | 2,205 sqft |
2020-01-01 | 0 days | 2,246 sqft |
2020-02-01 | 0 days | 2,250 sqft |
2020-03-01 | 0 days | 2,375 sqft |
2020-04-01 | 0 days | 2,352 sqft |
2020-05-01 | 0 days | 2,337 sqft |
2020-06-01 | 0 days | 2,361 sqft |
2020-07-01 | 0 days | 2,425 sqft |
2020-08-01 | 0 days | 2,448 sqft |
2020-09-01 | 0 days | 2,563 sqft |
2020-10-01 | 0 days | 2,450 sqft |
2020-11-01 | 0 days | 2,375 sqft |
2020-12-01 | 0 days | 2,308 sqft |
2021-01-01 | 0 days | 2,294 sqft |
2021-02-01 | 0 days | 2,200 sqft |
2021-03-01 | 0 days | 2,237 sqft |
2021-04-01 | 0 days | 2,206 sqft |
2021-05-01 | 0 days | 2,023 sqft |
2021-06-01 | 0 days | 1,832 sqft |
2021-07-01 | 0 days | 2,029 sqft |
2021-08-01 | 0 days | 1,914 sqft |
2021-09-01 | 0 days | 1,812 sqft |
2021-10-01 | 0 days | 1,790 sqft |
2021-11-01 | 0 days | 1,828 sqft |
2021-12-01 | 0 days | 1,826 sqft |
2022-01-01 | 0 days | 2,100 sqft |
2022-02-01 | 0 days | 2,032 sqft |
2022-03-01 | 0 days | 1,988 sqft |
2022-04-01 | 0 days | 2,110 sqft |
2022-05-01 | 0 days | 1,891 sqft |
2022-06-01 | 0 days | 1,870 sqft |
2022-07-01 | 0 days | 1,874 sqft |
2022-08-01 | 0 days | 2,003 sqft |
2022-09-01 | 0 days | 1,968 sqft |
2022-10-01 | 0 days | 1,850 sqft |
2022-11-01 | 0 days | 1,775 sqft |
2022-12-01 | 0 days | 1,700 sqft |
Greenwood's median square footage for active listings during the 2022-12-01 period was 1,700 sqft. One year prior, the average listing was 1,826 sqft.