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%.

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

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.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 44 5.10% $9,304
ACOPIA, LLC 27 5.19% $8,047
QUICKEN LOANS, LLC 26 4.61% $10,148
HOMESTAR FINANCIAL CORPORATION 14 4.82% $6,435
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 5.43% $8,560
Countybank 10 4.25% $7,134
UNITED WHOLESALE MORTGAGE, LLC 9 5.26% $9,932
DHI MORTGAGE COMPANY, LTD. 8 3.92% $7,905
PENNYMAC LOAN SERVICES, LLC 5 3.60% $7,484
CHURCHILL MORTGAGE CORPORATION 5 5.38% $8,088
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 4.22% $9,178
CARDINAL FINANCIAL 5 5.35% $12,019
Carrington Mortgage Services, LLC 4 5.50% $8,445
LOANDEPOT.COM, LLC 4 4.50% $10,792
ON Q FINANCIAL, INC. 4 6.28% $6,906
Mr. Cooper ( Nationstar Mortgage ) 3 5.33% $10,605
TOWNE MORTGAGE COMPANY 3 4.37% $8,458
GUILD MORTGAGE COMPANY 3 5.75% $10,812
MID AMERICA MORTGAGE, INC. 2 5.38% $5,932
MYCUMORTGAGE, LLC 2 3.88% $5,223
NATIONS DIRECT MORTGAGE, LLC 2 5.63% $15,716
Nations Lending Corporation 2 6.25% $7,823
Equity Prime Mortgage LLC 2 4.56% $7,137
BROKER SOLUTIONS, INC. 2 4.44% $9,982
First-Citizens Bank & Trust Company 2 5.00% $8,966
Peoples Bank 2 5.00% $10,694
Goldwater Bank, N.A. 2 5.25% $8,394
Renasant Bank 2 5.13% $6,511
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 4.25% $8,099
South State Bank 2 5.13% $6,954
SOUTHWEST FUNDING, LP 2 3.88% $10,762
Ameris Bank 2 5.19% $9,060
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 3.88% $5,747
MOVEMENT MORTGAGE, LLC 2 6.75% $9,826
VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.63% $8,859
AMERICAN FINANCIAL RESOURCES, INC. 1 4.50% $9,403
AMERISAVE MORTGAGE CORPORATION 1 5.00% $7,458
Century Mortgage Company DBA Century Lending Company 1 4.75% $5,486
CORNERSTONE HOME LENDING, INC. 1 3.75% $7,706
CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $17,541
DIRECT MORTGAGE LOANS, LLC 1 5.63% $12,404
EVERETT FINANCIAL, INC. 1 3.00% $4,288
First Community Bank 1 3.63% $9,186
FREEDOM MORTGAGE CORPORATION 1 4.75% $13,872
GUARANTEED RATE, INC. 1 4.25% $5,002
HOMESIDE FINANCIAL, LLC 1 6.13% $7,478
KELLER MORTGAGE, LLC 1 4.00% $6,157
Lakeview Community Capital, LLC 1 5.25% $4,849
LAKEVIEW LOAN SERVICING, LLC 1 5.00% $6,363
LOANPAL, LLC 1 5.13% $9,785
NATIONWIDE MORTGAGE BANKERS, INC. 1 5.25% $8,816
NBH Bank 1 6.50% $15,290
Network Funding, L.P. 1 3.75% $11,628
NEW DAY FINANCIAL, LLC 1 5.75% $5,665
NEWREZ LLC 1 5.25% $6,428
OCEANSIDE MORTGAGE COMPANY 1 4.99% $5,333
PLAZA HOME MORTGAGE, INC. 1 5.63% $11,486
RELIANCE FIRST CAPITAL, LLC 1 5.25% $9,964
RESIDENTIAL BANCORP 1 3.75% $6,140
RESOURCE FINANCIAL SERVICES, INC. 1 4.75% $7,639
Servion, Inc. 1 4.75% $8,428
SUN WEST MORTGAGE COMPANY, INC. 1 4.00% $7,084
The Bank of South Carolina 1 4.13% $4,440
United Community Bank 1 3.25% $7,216

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. Louis
Date 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 for 2023-10-01 was $288,135, a difference of $735 (0.3%) versus the prior year and $-11,765 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2023-10-01 was 0 days.

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.

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).