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 64 lenders originated 272 FHA loans during 2022. The total origination value was $49,730,000, with an average FHA loan value of $182,831.
Greenwood FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Greenwood
averaged
-0.7%
for the week of 2023-11-24, compared to the national average (all FHA variants) of
0% for the same period.
Greenwood's average FHA mortgage closing costs are $6,586.
The average rate for the prior week (2023-11-17) was
6.5% and
one month ago for the week of 2023-10-20, the
average rate was 6.8%.
The average rate one year ago was 5.83%.
For refis of the same type during the week of 2023-11-24, the average rate
was -0.1%.
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
44 FHA loans originated. Their average total fees are
$9,304, which is $1,257
higher than the next largest lender,
ACOPIA, LLC.
The lowest fee Greenwood FHA lenders (with over 10 loans originated) are
HOMESTAR FINANCIAL CORPORATION ($6,435), Countybank ($7,134), ACOPIA, LLC ($8,047), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,560) and ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($9,304).
The lowest rate Greenwood FHA lenders (with over 10 loans originated) are
Countybank (4.25%), QUICKEN LOANS, LLC (4.61%), HOMESTAR FINANCIAL CORPORATION (4.82%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (5.10%) and ACOPIA, LLC (5.19%).
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 |
GREENWOOD, SC | GREENWOOD | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
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 | $231,265 (20.4%) | $296,010 (12.9%) | 0.00 | 143 |
2019-04-01 | $238,691 (23.5%) | $303,279 (14.2%) | 0.00 | 143 |
2019-05-01 | $269,925 (35.3%) | $320,426 (17.7%) | 0.00 | 175 |
2019-06-01 | $253,090 (19.3%) | $315,692 (16.1%) | 0.00 | 176 |
2019-07-01 | $244,748 (8.8%) | $311,439 (11.6%) | 0.00 | 199 |
2019-08-01 | $245,541 (11.9%) | $314,621 (13.5%) | 0.00 | 200 |
2019-09-01 | $260,002 (20.4%) | $322,077 (15.8%) | 0.00 | 192 |
2019-10-01 | $269,643 (27.4%) | $327,048 (20.1%) | 0.00 | 188 |
2019-11-01 | $260,000 (18.2%) | $315,160 (13.2%) | 0.00 | 190 |
2019-12-01 | $259,045 (18.3%) | $309,739 (9.6%) | 0.00 | 174 |
2020-01-01 | $269,000 (29.1%) | $307,763 (10.6%) | 0.00 | 174 |
2020-02-01 | $269,900 (20.0%) | $307,053 (7.9%) | 0.00 | 172 |
2020-03-01 | $288,700 (24.8%) | $317,703 (7.3%) | 0.00 | 163 |
2020-04-01 | $281,450 (17.9%) | $315,865 (4.2%) | 0.00 | 174 |
2020-05-01 | $294,900 (9.3%) | $322,274 (0.6%) | 0.00 | 174 |
2020-06-01 | $298,500 (17.9%) | $333,388 (5.6%) | 0.00 | 160 |
2020-07-01 | $299,575 (22.4%) | $343,069 (10.2%) | 0.00 | 130 |
2020-08-01 | $299,500 (22.0%) | $327,460 (4.1%) | 0.00 | 118 |
2020-09-01 | $297,750 (14.5%) | $325,667 (1.1%) | 0.00 | 124 |
2020-10-01 | $289,900 (7.5%) | $316,527 (-3.2%) | 0.00 | 128 |
2020-11-01 | $281,425 (8.2%) | $308,312 (-2.2%) | 0.00 | 109 |
2020-12-01 | $276,120 (6.6%) | $318,980 (3.0%) | 0.00 | 84 |
2021-01-01 | $260,000 (-3.4%) | $297,194 (-3.4%) | 0.00 | 72 |
2021-02-01 | $228,670 (-15.3%) | $278,042 (-9.5%) | 0.00 | 75 |
2021-03-01 | $265,800 (-7.9%) | $316,669 (-0.3%) | 0.00 | 68 |
2021-04-01 | $264,250 (-6.1%) | $342,966 (8.6%) | 0.00 | 53 |
2021-05-01 | $249,950 (-15.2%) | $300,942 (-6.6%) | 0.00 | 55 |
2021-06-01 | $233,700 (-21.7%) | $286,397 (-14.1%) | 0.00 | 57 |
2021-07-01 | $244,900 (-18.3%) | $311,299 (-9.3%) | 0.00 | 58 |
2021-08-01 | $246,495 (-17.7%) | $294,698 (-10.0%) | 0.00 | 79 |
2021-09-01 | $251,000 (-15.7%) | $270,771 (-16.9%) | 0.00 | 99 |
2021-10-01 | $244,500 (-15.7%) | $256,186 (-19.1%) | 0.00 | 107 |
2021-11-01 | $255,245 (-9.3%) | $268,113 (-13.0%) | 0.00 | 113 |
2021-12-01 | $261,500 (-5.3%) | $269,440 (-15.5%) | 0.00 | 117 |
2022-01-01 | $294,000 (13.1%) | $311,948 (5.0%) | 0.00 | 93 |
2022-02-01 | $296,250 (29.6%) | $312,406 (12.4%) | 0.00 | 106 |
2022-03-01 | $295,625 (11.2%) | $320,053 (1.1%) | 0.00 | 103 |
2022-04-01 | $300,000 (13.5%) | $353,598 (3.1%) | 0.00 | 98 |
2022-05-01 | $310,425 (24.2%) | $387,331 (28.7%) | 0.00 | 97 |
2022-06-01 | $298,250 (27.6%) | $376,446 (31.4%) | 0.00 | 109 |
2022-07-01 | $290,000 (18.4%) | $374,691 (20.4%) | 0.00 | 123 |
2022-08-01 | $296,125 (20.1%) | $363,340 (23.3%) | 0.00 | 132 |
2022-09-01 | $292,995 (16.7%) | $375,626 (38.7%) | 0.00 | 153 |
2022-10-01 | $287,400 (17.6%) | $371,023 (44.8%) | 0.00 | 162 |
2022-11-01 | $289,225 (13.3%) | $355,825 (32.7%) | 0.00 | 157 |
2022-12-01 | $275,990 (5.5%) | $348,374 (29.3%) | 0.00 | 154 |
2023-01-01 | $282,950 (-3.8%) | $366,479 (17.5%) | 0.00 | 140 |
2023-02-01 | $299,450 (1.1%) | $396,670 (27.0%) | 0.00 | 127 |
2023-03-01 | $299,675 (1.4%) | $405,509 (26.7%) | 0.00 | 124 |
2023-04-01 | $313,490 (4.5%) | $412,567 (16.7%) | 0.00 | 118 |
2023-05-01 | $349,725 (12.7%) | $423,906 (9.4%) | 0.00 | 111 |
2023-06-01 | $353,100 (18.4%) | $419,236 (11.4%) | 0.00 | 120 |
2023-07-01 | $333,950 (15.2%) | $384,600 (2.6%) | 0.00 | 111 |
2023-08-01 | $299,900 (1.3%) | $360,237 (-0.9%) | 0.00 | 119 |
2023-09-01 | $299,900 (2.4%) | $369,000 (-1.8%) | 0.00 | 126 |
2023-10-01 | $288,135 (0.3%) | $346,446 (-6.6%) | 0.00 | 137 |
Greenwood's median listing price comes in at 0% of the national average.
Greenwood's average listing price for 2023-10-01 was $346,446, a difference of $-24,577 (-6.6%) versus the prior year and $-22,554 versus the prior month.
For the 2023-10-01 period, Greenwood had 137 MLS listings, a difference of 11 listings (9%) versus the prior month and -25 listings (-15%) 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 | 1,855 sqft |
2018-02-01 | 0 days | 1,843 sqft |
2018-03-01 | 0 days | 1,936 sqft |
2018-04-01 | 0 days | 1,918 sqft |
2018-05-01 | 0 days | 1,928 sqft |
2018-06-01 | 0 days | 1,911 sqft |
2018-07-01 | 0 days | 1,965 sqft |
2018-08-01 | 0 days | 2,048 sqft |
2018-09-01 | 0 days | 2,056 sqft |
2018-10-01 | 0 days | 2,078 sqft |
2018-11-01 | 0 days | 2,105 sqft |
2018-12-01 | 0 days | 2,098 sqft |
2019-01-01 | 0 days | 2,059 sqft |
2019-02-01 | 0 days | 2,046 sqft |
2019-03-01 | 0 days | 2,092 sqft |
2019-04-01 | 0 days | 2,107 sqft |
2019-05-01 | 0 days | 2,093 sqft |
2019-06-01 | 0 days | 2,099 sqft |
2019-07-01 | 0 days | 2,138 sqft |
2019-08-01 | 0 days | 2,161 sqft |
2019-09-01 | 0 days | 2,177 sqft |
2019-10-01 | 0 days | 2,188 sqft |
2019-11-01 | 0 days | 2,200 sqft |
2019-12-01 | 0 days | 2,210 sqft |
2020-01-01 | 0 days | 2,250 sqft |
2020-02-01 | 0 days | 2,232 sqft |
2020-03-01 | 0 days | 2,347 sqft |
2020-04-01 | 0 days | 2,337 sqft |
2020-05-01 | 0 days | 2,350 sqft |
2020-06-01 | 0 days | 2,362 sqft |
2020-07-01 | 0 days | 2,437 sqft |
2020-08-01 | 0 days | 2,501 sqft |
2020-09-01 | 0 days | 2,631 sqft |
2020-10-01 | 0 days | 2,450 sqft |
2020-11-01 | 0 days | 2,375 sqft |
2020-12-01 | 0 days | 2,301 sqft |
2021-01-01 | 0 days | 2,264 sqft |
2021-02-01 | 0 days | 2,199 sqft |
2021-03-01 | 0 days | 2,262 sqft |
2021-04-01 | 0 days | 2,232 sqft |
2021-05-01 | 0 days | 2,080 sqft |
2021-06-01 | 0 days | 1,868 sqft |
2021-07-01 | 0 days | 2,070 sqft |
2021-08-01 | 0 days | 1,908 sqft |
2021-09-01 | 0 days | 1,816 sqft |
2021-10-01 | 0 days | 1,821 sqft |
2021-11-01 | 0 days | 1,851 sqft |
2021-12-01 | 0 days | 1,847 sqft |
2022-01-01 | 0 days | 2,112 sqft |
2022-02-01 | 0 days | 2,105 sqft |
2022-03-01 | 0 days | 2,134 sqft |
2022-04-01 | 0 days | 2,116 sqft |
2022-05-01 | 0 days | 2,054 sqft |
2022-06-01 | 0 days | 1,941 sqft |
2022-07-01 | 0 days | 1,881 sqft |
2022-08-01 | 0 days | 1,964 sqft |
2022-09-01 | 0 days | 1,959 sqft |
2022-10-01 | 0 days | 1,898 sqft |
2022-11-01 | 0 days | 1,850 sqft |
2022-12-01 | 0 days | 1,850 sqft |
2023-01-01 | 0 days | 1,816 sqft |
2023-02-01 | 0 days | 1,919 sqft |
2023-03-01 | 0 days | 1,838 sqft |
2023-04-01 | 0 days | 1,850 sqft |
2023-05-01 | 0 days | 2,050 sqft |
2023-06-01 | 0 days | 2,250 sqft |
2023-07-01 | 0 days | 2,098 sqft |
2023-08-01 | 0 days | 1,943 sqft |
2023-09-01 | 0 days | 2,114 sqft |
2023-10-01 | 0 days | 1,859 sqft |
Greenwood's median square footage for active listings during the 2023-10-01 period was 1,859 sqft. One year prior, the average listing was 1,898 sqft.