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 47 lenders originated 232 FHA loans during 2023. The total origination value was $43,350,000, with an average FHA loan value of $186,853.

Greenwood FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Greenwood averaged 6.64% for the week of 2024-05-24, compared to the national average (all FHA variants) of 6.746% for the same period.

Greenwood's average FHA mortgage closing costs are $7,011.

The average rate for the prior week (2024-05-17) was 6.73% and one month ago for the week of 2024-04-19, the average rate was 6.55%.

The average rate one year ago was 6.58%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.65%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 35 6.42% $11,061
QUICKEN LOANS, LLC 27 6.13% $8,928
ACOPIA, LLC 23 6.53% $9,150
UNITED WHOLESALE MORTGAGE, LLC 22 6.46% $9,415
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 7.06% $10,212
DHI MORTGAGE COMPANY, LTD. 11 5.27% $7,553
CHURCHILL MORTGAGE CORPORATION 5 5.68% $9,161
AMERISAVE MORTGAGE CORPORATION 4 6.38% $10,891
Mr. Cooper ( Nationstar Mortgage ) 4 6.06% $10,992
Equity Prime Mortgage LLC 4 7.03% $10,606
UNION HOME MORTGAGE CORP. 4 6.66% $9,000
Waterstone Mortgage Corporation 4 7.22% $10,307
ON Q FINANCIAL, INC. 3 6.21% $9,006
Barrington Bank & Trust Company, N.A. 3 7.42% $8,210
LOANDEPOT.COM, LLC 3 6.04% $13,713
NEWREZ LLC 3 6.66% $4,480
GUILD MORTGAGE COMPANY 3 6.58% $6,808
INTERLINC MORTGAGE SERVICES, LLC 2 6.56% $5,669
SeaTrust Mortgage Company 2 5.87% $10,070
PENNYMAC LOAN SERVICES, LLC 2 6.50% $6,587
GUARANTEED RATE, INC. 2 6.31% $6,590
CROSSCOUNTRY MORTGAGE, LLC 2 7.13% $10,214
TOP FLITE FINANCIAL, INC. 1 7.50% $6,193
Truist 1 6.75% $6,311
United Community Bank 1 6.00% $10,150
ZILLOW HOME LOANS, LLC 1 5.63% $13,242
Alcova Mortgage LLC 1 6.75% $5,349
CARDINAL FINANCIAL 1 6.25% $21,895
Carrington Mortgage Services, LLC 1 6.63% $8,837
Citizens Bank 1 6.63% $9,401
CORNERSTONE HOME LENDING, INC. 1 6.13% $8,620
Countybank 1 6.63% $10,791
First Community Bank 1 6.75% $9,508
Flagstar Bank, FSB 1 7.22% $5,976
HOMESTAR FINANCIAL CORPORATION 1 7.25% $9,601
Lakeview Community Capital, LLC 1 6.13% $8,923
Magnolia Bank 1 5.75% $6,136
Meridian Bank Corporation 1 7.25% $11,359
MOVEMENT MORTGAGE, LLC 1 6.75% $14,659
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.13% $7,463
POLARIS HOME FUNDING CORP. 1 6.50% $10,276
PREMIA MORTGAGE, LLC 1 6.25% $6,592
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.00% $14,931
Renasant Bank 1 6.00% $7,632
RESOURCE FINANCIAL SERVICES, INC. 1 7.13% $8,734
ROYAL UNITED MORTGAGE LLC 1 7.13% $6,930
SWBC MORTGAGE CORPORATION 1 7.25% $4,924

The top Greenwood FHA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 35 FHA loans originated. Their average total fees are $11,061, which is $2,133 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Greenwood FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($7,553), QUICKEN LOANS, LLC ($8,928), ACOPIA, LLC ($9,150), UNITED WHOLESALE MORTGAGE, LLC ($9,415) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($10,212).

The lowest rate Greenwood FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.27%), QUICKEN LOANS, LLC (6.13%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.42%), UNITED WHOLESALE MORTGAGE, LLC (6.46%) and ACOPIA, LLC (6.53%).

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 $180,250 (11.0%) $248,220 (5.5%) 0.00 198
2018-02-01 $178,000 (12.7%) $248,790 (3.7%) 0.00 186
2018-03-01 $189,700 (6.9%) $260,538 (4.8%) 0.00 199
2018-04-01 $192,150 (-0.4%) $264,690 (3.9%) 0.00 208
2018-05-01 $199,250 (-0.3%) $271,376 (6.3%) 0.00 217
2018-06-01 $209,500 (11.2%) $270,970 (9.2%) 0.00 209
2018-07-01 $224,900 (15.1%) $279,087 (9.8%) 0.00 198
2018-08-01 $219,475 (14.9%) $277,161 (8.8%) 0.00 197
2018-09-01 $215,000 (8.0%) $276,956 (6.3%) 0.00 204
2018-10-01 $210,950 (11.1%) $271,365 (3.0%) 0.00 188
2018-11-01 $218,075 (9.9%) $277,543 (7.3%) 0.00 184
2018-12-01 $218,500 (21.4%) $281,585 (11.7%) 0.00 168
2019-01-01 $207,575 (15.2%) $276,696 (11.5%) 0.00 165
2019-02-01 $219,250 (23.2%) $282,247 (13.5%) 0.00 151
2019-03-01 $227,808 (20.1%) $293,379 (12.6%) 0.00 144
2019-04-01 $238,084 (23.9%) $300,739 (13.6%) 0.00 144
2019-05-01 $266,475 (33.7%) $317,112 (16.9%) 0.00 178
2019-06-01 $240,352 (14.7%) $313,379 (15.7%) 0.00 178
2019-07-01 $237,676 (5.7%) $309,331 (10.8%) 0.00 201
2019-08-01 $243,864 (11.1%) $312,893 (12.9%) 0.00 201
2019-09-01 $257,159 (19.6%) $320,789 (15.8%) 0.00 193
2019-10-01 $266,850 (26.5%) $326,052 (20.2%) 0.00 189
2019-11-01 $259,900 (19.2%) $314,331 (13.3%) 0.00 191
2019-12-01 $256,520 (17.4%) $309,312 (9.9%) 0.00 174
2020-01-01 $269,000 (29.6%) $307,763 (11.2%) 0.00 174
2020-02-01 $269,900 (23.1%) $307,053 (8.8%) 0.00 172
2020-03-01 $288,700 (26.7%) $317,703 (8.3%) 0.00 163
2020-04-01 $280,950 (18.0%) $315,114 (4.8%) 0.00 175
2020-05-01 $294,900 (10.7%) $322,274 (1.6%) 0.00 175
2020-06-01 $298,500 (24.2%) $332,768 (6.2%) 0.00 160
2020-07-01 $299,450 (26.0%) $340,637 (10.1%) 0.00 131
2020-08-01 $299,500 (22.8%) $327,460 (4.7%) 0.00 119
2020-09-01 $296,975 (15.5%) $324,212 (1.1%) 0.00 125
2020-10-01 $289,900 (8.6%) $315,207 (-3.3%) 0.00 129
2020-11-01 $279,425 (7.5%) $306,849 (-2.4%) 0.00 110
2020-12-01 $273,620 (6.7%) $315,856 (2.1%) 0.00 85
2021-01-01 $252,500 (-6.1%) $294,985 (-4.2%) 0.00 74
2021-02-01 $227,320 (-15.8%) $276,213 (-10.0%) 0.00 76
2021-03-01 $265,800 (-7.9%) $316,669 (-0.3%) 0.00 68
2021-04-01 $264,250 (-5.9%) $342,966 (8.8%) 0.00 54
2021-05-01 $249,950 (-15.2%) $300,942 (-6.6%) 0.00 55
2021-06-01 $233,700 (-21.7%) $286,397 (-13.9%) 0.00 57
2021-07-01 $244,900 (-18.2%) $311,299 (-8.6%) 0.00 58
2021-08-01 $246,495 (-17.7%) $294,698 (-10.0%) 0.00 79
2021-09-01 $251,000 (-15.5%) $270,771 (-16.5%) 0.00 99
2021-10-01 $240,750 (-17.0%) $255,643 (-18.9%) 0.00 107
2021-11-01 $255,245 (-8.7%) $268,113 (-12.6%) 0.00 113
2021-12-01 $261,500 (-4.4%) $269,440 (-14.7%) 0.00 117
2022-01-01 $294,000 (16.4%) $311,948 (5.8%) 0.00 93
2022-02-01 $296,250 (30.3%) $312,406 (13.1%) 0.00 106
2022-03-01 $295,000 (11.0%) $319,376 (0.9%) 0.00 104
2022-04-01 $300,000 (13.5%) $352,246 (2.7%) 0.00 98
2022-05-01 $306,338 (22.6%) $383,434 (27.4%) 0.00 100
2022-06-01 $296,125 (26.7%) $371,482 (29.7%) 0.00 112
2022-07-01 $287,500 (17.4%) $369,277 (18.6%) 0.00 125
2022-08-01 $292,500 (18.7%) $358,830 (21.8%) 0.00 134
2022-09-01 $291,498 (16.1%) $373,042 (37.8%) 0.00 154
2022-10-01 $287,400 (19.4%) $369,751 (44.6%) 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%) $365,748 (17.3%) 0.00 141
2023-02-01 $299,450 (1.1%) $396,670 (27.0%) 0.00 127
2023-03-01 $299,675 (1.6%) $403,887 (26.5%) 0.00 124
2023-04-01 $312,490 (4.2%) $410,960 (16.7%) 0.00 118
2023-05-01 $345,725 (12.9%) $422,223 (10.1%) 0.00 116
2023-06-01 $335,000 (13.1%) $411,762 (10.8%) 0.00 125
2023-07-01 $320,400 (11.4%) $374,600 (1.4%) 0.00 118
2023-08-01 $299,900 (2.5%) $358,628 (-0.1%) 0.00 120
2023-09-01 $299,900 (2.9%) $363,745 (-2.5%) 0.00 129
2023-10-01 $280,945 (-2.3%) $343,645 (-7.1%) 0.00 140
2023-11-01 $290,545 (0.5%) $350,226 (-1.6%) 0.00 144
2023-12-01 $299,900 (8.7%) $345,985 (-0.7%) 0.00 151
2024-01-01 $313,575 (10.8%) $347,903 (-4.9%) 0.00 139
2024-02-01 $320,225 (6.9%) $348,311 (-12.2%) 0.00 143
2024-03-01 $309,900 (3.4%) $358,965 (-11.1%) 0.00 169
2024-04-01 $318,250 (1.8%) $367,179 (-10.7%) 0.00 187
Greenwood's median listing price for 2024-04-01 was $318,250, a difference of $5,760 (1.8%) versus the prior year and $8,350 versus the prior month.

Greenwood's median listing price comes in at 0% of the national average.

Greenwood's average listing price for 2024-04-01 was $367,179, a difference of $-43,781 (-10.7%) versus the prior year and $8,214 versus the prior month.

For the 2024-04-01 period, Greenwood had 187 MLS listings, a difference of 18 listings (11%) versus the prior month and 69 listings (58%) 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 1,892 sqft
2018-02-01 0 days 1,888 sqft
2018-03-01 0 days 2,004 sqft
2018-04-01 0 days 1,937 sqft
2018-05-01 0 days 1,934 sqft
2018-06-01 0 days 1,918 sqft
2018-07-01 0 days 1,972 sqft
2018-08-01 0 days 2,074 sqft
2018-09-01 0 days 2,099 sqft
2018-10-01 0 days 2,100 sqft
2018-11-01 0 days 2,142 sqft
2018-12-01 0 days 2,102 sqft
2019-01-01 0 days 2,069 sqft
2019-02-01 0 days 2,046 sqft
2019-03-01 0 days 2,107 sqft
2019-04-01 0 days 2,138 sqft
2019-05-01 0 days 2,125 sqft
2019-06-01 0 days 2,080 sqft
2019-07-01 0 days 2,026 sqft
2019-08-01 0 days 2,090 sqft
2019-09-01 0 days 2,146 sqft
2019-10-01 0 days 2,184 sqft
2019-11-01 0 days 2,191 sqft
2019-12-01 0 days 2,242 sqft
2020-01-01 0 days 2,277 sqft
2020-02-01 0 days 2,222 sqft
2020-03-01 0 days 2,318 sqft
2020-04-01 0 days 2,323 sqft
2020-05-01 0 days 2,323 sqft
2020-06-01 0 days 2,361 sqft
2020-07-01 0 days 2,400 sqft
2020-08-01 0 days 2,496 sqft
2020-09-01 0 days 2,551 sqft
2020-10-01 0 days 2,419 sqft
2020-11-01 0 days 2,318 sqft
2020-12-01 0 days 2,289 sqft
2021-01-01 0 days 2,224 sqft
2021-02-01 0 days 2,160 sqft
2021-03-01 0 days 2,234 sqft
2021-04-01 0 days 2,206 sqft
2021-05-01 0 days 2,065 sqft
2021-06-01 0 days 1,883 sqft
2021-07-01 0 days 2,159 sqft
2021-08-01 0 days 1,906 sqft
2021-09-01 0 days 1,812 sqft
2021-10-01 0 days 1,800 sqft
2021-11-01 0 days 1,849 sqft
2021-12-01 0 days 1,870 sqft
2022-01-01 0 days 2,000 sqft
2022-02-01 0 days 2,001 sqft
2022-03-01 0 days 1,979 sqft
2022-04-01 0 days 1,964 sqft
2022-05-01 0 days 1,909 sqft
2022-06-01 0 days 1,881 sqft
2022-07-01 0 days 1,874 sqft
2022-08-01 0 days 1,942 sqft
2022-09-01 0 days 1,945 sqft
2022-10-01 0 days 1,900 sqft
2022-11-01 0 days 1,899 sqft
2022-12-01 0 days 1,919 sqft
2023-01-01 0 days 1,924 sqft
2023-02-01 0 days 2,057 sqft
2023-03-01 0 days 2,002 sqft
2023-04-01 0 days 2,125 sqft
2023-05-01 0 days 2,181 sqft
2023-06-01 0 days 2,180 sqft
2023-07-01 0 days 1,927 sqft
2023-08-01 0 days 1,797 sqft
2023-09-01 0 days 1,870 sqft
2023-10-01 0 days 1,795 sqft
2023-11-01 0 days 1,842 sqft
2023-12-01 0 days 1,926 sqft
2024-01-01 0 days 1,539 sqft
2024-02-01 0 days 1,706 sqft
2024-03-01 0 days 2,014 sqft
2024-04-01 0 days 2,185 sqft
Greenwood's median listing age (time on market) for 2024-04-01 was 0 days.

Greenwood's median square footage for active listings during the 2024-04-01 period was 2,185 sqft. One year prior, the average listing was 2,125 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).