Hattiesburg FHA Loan Rates, Closing Costs & Stats

HATTIESBURG, MS

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    • 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.

    Hattiesburg's 67 lenders originated 505 FHA loans during 2024. The total origination value was $109,155,000, with an average FHA loan value of $216,149.

    Hattiesburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Hattiesburg averaged -0.01% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Hattiesburg's average FHA mortgage closing costs are $7,215.

    The average rate for the prior week (2025-06-27) was 6.68% and one month ago for the week of 2025-05-30, the average rate was 6.65%.

    The average rate one year ago was 6.57%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.32%.

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

    Hattiesburg 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 Hattiesburg level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Trustmark National Bank 80 6.35% $7,998
    QUICKEN LOANS, LLC 36 6.30% $9,682
    Merchants & Marine Bank 20 6.31% $8,458
    UNITED WHOLESALE MORTGAGE, LLC 19 6.27% $10,327
    BROKER SOLUTIONS, INC. 18 6.96% $10,799
    FREEDOM MORTGAGE CORPORATION 16 6.12% $11,857
    CROSSCOUNTRY MORTGAGE, LLC 14 6.51% $9,523
    Grand Bank for Savings, FSB 14 6.35% $5,768
    SWBC MORTGAGE CORPORATION 13 6.25% $7,321
    FIRST COLONY MORTGAGE CORPORATION 12 6.18% $11,433
    PENNYMAC LOAN SERVICES, LLC 12 5.91% $7,917
    STOCKTON MORTGAGE CORPORATION 12 6.32% $9,527
    Equity Prime Mortgage LLC 11 7.00% $15,015
    Flagstar Bank, FSB 11 6.07% $6,649
    Regions Bank 10 6.20% $9,745
    BancorpSouth 8 6.27% $7,861
    GMFS LLC 8 6.69% $6,728
    KEESLER 8 5.50% $8,363
    GUARANTEED RATE, INC. 7 6.97% $9,722
    Hamilton Mortgage Corporation 7 6.66% $9,198
    The Citizens National Bank of Meridian 6 6.18% $9,042
    Community Bank of Mississippi 6 6.02% $7,665
    GUILD MORTGAGE COMPANY 5 6.48% $9,477
    Hancock Whitney Bank 5 6.23% $7,578
    TOWNE MORTGAGE COMPANY 4 6.38% $9,868
    Renasant Bank 4 6.44% $12,817
    Princeton Mortgage Corporation 4 6.28% $11,716
    Bank of England 4 6.63% $9,329
    CARDINAL FINANCIAL 4 5.94% $15,298
    AMERISAVE MORTGAGE CORPORATION 3 6.08% $10,255
    NEWREZ LLC 3 6.66% $7,425
    DHI MORTGAGE COMPANY, LTD. 3 4.83% $8,137
    Wells Fargo Bank 3 6.00% $7,100
    VILLAGE CAPITAL MORTGAGE 3 6.79% $15,253
    LOANDEPOT.COM, LLC 3 6.50% $10,183
    CMG MORTGAGE, INC. 3 6.21% $9,182
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.06% $15,252
    FIRST COMMUNITY MORTGAGE, INC. 2 6.31% $8,726
    FIDELITY BANK 2 6.19% $9,410
    MORTGAGE INVESTORS GROUP, INC. 2 6.69% $9,144
    Mr. Cooper ( Nationstar Mortgage ) 2 6.88% $13,010
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.50% $7,143
    ZILLOW HOME LOANS, LLC 1 6.75% $10,883
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.00% $8,135
    American Mortgage Bank, LLC 1 5.59% $9,014
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.00% $6,160
    CANOPY MORTGAGE, LLC 1 5.25% $9,520
    Carrington Mortgage Services, LLC 1 6.75% $6,572
    Citizens Bank 1 6.63% $4,605
    Cornerstone First Mortgage, Inc 1 6.63% $11,982
    DELMAR FINANCIAL COMPANY 1 6.50% $6,867
    EMM LOANS LLC 1 5.75% $11,912
    ENCORE BANK 1 6.75% $7,934
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 5.99% $9,230
    EVERETT FINANCIAL, INC. 1 6.09% $3,894
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $10,758
    JPMorgan Chase Bank 1 6.75% $3,625
    Magnolia Bank 1 6.25% $8,698
    MORTGAGE FINANCIAL SERVICES, LLC 1 6.25% $8,044
    Mortgage Research Center, LLC 1 6.25% $7,172
    M&T Bank 1 6.25% $5,927
    Nations Lending Corporation 1 6.75% $7,477
    NBKC BANK 1 6.88% $5,191
    OPEN MORTGAGE, LLC 1 7.25% $6,862
    PLAZA HOME MORTGAGE, INC. 1 7.75% $7,686
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.59% $8,978
    ACOPIA, LLC 1 6.25% $11,682

    The top Hattiesburg FHA lender as defined by loan originations is Trustmark National Bank, with 80 FHA loans originated. Their average total fees are $7,998, which is $1,684 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Hattiesburg FHA lenders (with over 10 loans originated) are Grand Bank for Savings, FSB ($5,768), Flagstar Bank, FSB ($6,649), SWBC MORTGAGE CORPORATION ($7,321), PENNYMAC LOAN SERVICES, LLC ($7,917) and Trustmark National Bank ($7,998).

    The lowest rate Hattiesburg FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.91%), Flagstar Bank, FSB (6.07%), FREEDOM MORTGAGE CORPORATION (6.12%), FIRST COLONY MORTGAGE CORPORATION (6.18%) and Regions Bank (6.20%).

    Hattiesburg FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    HATTIESBURG, MS COVINGTON 2022 $420,680 $538,650 $651,050 $809,150
    HATTIESBURG, MS FORREST 2022 $420,680 $538,650 $651,050 $809,150
    HATTIESBURG, MS LAMAR 2022 $420,680 $538,650 $651,050 $809,150
    HATTIESBURG, MS PERRY 2022 $420,680 $538,650 $651,050 $809,150
    HATTIESBURG, MS COVINGTON 2023 $472,030 $604,400 $730,525 $907,900
    HATTIESBURG, MS FORREST 2023 $472,030 $604,400 $730,525 $907,900
    HATTIESBURG, MS LAMAR 2023 $472,030 $604,400 $730,525 $907,900
    HATTIESBURG, MS PERRY 2023 $472,030 $604,400 $730,525 $907,900

    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).