Hattiesburg FHA Loan Rates, Closing Costs & Stats

HATTIESBURG, MS

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 452 FHA loans during 2023. The total origination value was $97,260,000, with an average FHA loan value of $215,177.

Hattiesburg FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Hattiesburg averaged 6.91% for the week of 2024-05-17, compared to the national average (all FHA variants) of 6.744% for the same period.

Hattiesburg's average FHA mortgage closing costs are $6,888.

The average rate for the prior week (2024-05-10) was 6.75% and one month ago for the week of 2024-04-12, the average rate was 6.71%.

The average rate one year ago was 6.47%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.52%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Trustmark National Bank 64 6.37% $8,006
QUICKEN LOANS, LLC 49 6.45% $9,399
Merchants & Marine Bank 19 6.80% $10,600
Regions Bank 17 6.38% $7,588
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 6.70% $7,812
STOCKTON MORTGAGE CORPORATION 12 6.67% $11,293
CROSSCOUNTRY MORTGAGE, LLC 12 6.83% $9,267
UNITED WHOLESALE MORTGAGE, LLC 11 6.42% $12,073
SWBC MORTGAGE CORPORATION 11 6.72% $7,685
KEESLER 9 5.60% $8,024
Equity Prime Mortgage LLC 9 6.76% $11,755
BancorpSouth 9 6.68% $7,117
Grand Bank for Savings, FSB 9 6.49% $7,226
GMFS LLC 9 6.39% $8,010
DRAPER AND KRAMER MORTGAGE CORP. 9 6.82% $10,320
Hancock Whitney Bank 6 6.42% $11,362
BROKER SOLUTIONS, INC. 6 6.68% $11,476
The Citizens National Bank of Meridian 6 6.69% $10,348
FREEDOM MORTGAGE CORPORATION 6 7.19% $12,281
Citizens Bank 5 5.78% $7,579
PLAZA HOME MORTGAGE, INC. 5 6.05% $10,400
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 7.25% $10,751
Flagstar Bank, FSB 5 6.88% $7,256
AMERICAN PACIFIC MORTGAGE CORPORATION 5 6.83% $10,248
LOANDEPOT.COM, LLC 5 5.22% $9,733
Hamilton Mortgage Corporation 4 6.75% $8,320
GUILD MORTGAGE COMPANY 4 6.75% $8,022
NEWREZ LLC 4 6.63% $6,751
FIRST COLONY MORTGAGE CORPORATION 3 6.92% $20,097
PLANET HOME LENDING, LLC 3 6.71% $15,114
EVERETT FINANCIAL, INC. 3 6.85% $9,589
AMERISAVE MORTGAGE CORPORATION 3 5.88% $9,917
Community Bank of Mississippi 2 6.38% $8,020
CORNERSTONE HOME LENDING, INC. 2 7.63% $7,574
PENNYMAC LOAN SERVICES, LLC 2 6.31% $7,554
MORTGAGE INVESTORS GROUP, INC. 2 6.56% $6,951
FIRST COMMUNITY MORTGAGE, INC. 2 6.88% $8,577
AMERICAN FINANCIAL RESOURCES, INC. 2 6.75% $13,057
Mortgage Research Center, LLC 2 6.44% $5,612
FirstTrust Home Loans, Inc. 2 7.44% $10,061
ZILLOW HOME LOANS, LLC 2 7.50% $7,983
FIDELITY BANK 2 6.88% $6,706
Renasant Bank 2 6.62% $11,179
Carrington Mortgage Services, LLC 2 6.25% $11,130
Mr. Cooper ( Nationstar Mortgage ) 2 6.25% $13,422
NEW DAY FINANCIAL, LLC 2 7.99% $7,003
Republic State Mortgage Co. 1 7.25% $10,455
AMERICAN FINANCING CORPORATION 1 7.75% $7,194
Bank of England 1 6.19% $8,098
CHURCHILL MORTGAGE CORPORATION 1 6.25% $15,805
CMG MORTGAGE, INC. 1 7.38% $9,401
EMM LOANS LLC 1 6.25% $11,781
First Federal Bank, A FSB 1 6.63% $10,622
GUARANTY HOME MORTGAGE CORPORATION 1 5.38% $7,152
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.88% $15,330
HOMESIDE FINANCIAL, LLC 1 6.75% $8,625
JPMorgan Chase Bank 1 6.50% $17,261
LAKEVIEW LOAN SERVICING, LLC 1 5.75% $8,313
Magnolia Bank 1 5.63% $14,035
Merchants Bank of Indiana 1 6.75% $4,620
M&T Bank 1 6.25% $5,306
Origin Bank 1 6.99% $7,433
Plains Commerce Bank 1 5.63% $9,541
RELIANCE FIRST CAPITAL, LLC 1 6.75% $6,406
AMERICAN FINANCIAL NETWORK, INC. 1 7.38% $14,958
SUN WEST MORTGAGE COMPANY, INC. 1 7.13% $11,270
VILLAGE CAPITAL MORTGAGE 1 5.25% $22,923

The top Hattiesburg FHA lender as defined by loan originations is Trustmark National Bank, with 64 FHA loans originated. Their average total fees are $8,006, which is $1,393 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Hattiesburg FHA lenders (with over 10 loans originated) are Regions Bank ($7,588), SWBC MORTGAGE CORPORATION ($7,685), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,812), Trustmark National Bank ($8,006) and CROSSCOUNTRY MORTGAGE, LLC ($9,267).

The lowest rate Hattiesburg FHA lenders (with over 10 loans originated) are Trustmark National Bank (6.37%), Regions Bank (6.38%), UNITED WHOLESALE MORTGAGE, LLC (6.42%), QUICKEN LOANS, LLC (6.45%) and STOCKTON MORTGAGE CORPORATION (6.67%).

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Hattiesburg (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 $194,500 (11.2%) $258,451 (12.1%) 0.72 540
2018-02-01 $198,000 (13.2%) $264,700 (10.3%) 0.72 536
2018-03-01 $204,900 (14.2%) $272,139 (8.7%) 0.72 567
2018-04-01 $209,750 (15.1%) $276,093 (6.3%) 0.71 600
2018-05-01 $219,000 (22.0%) $281,836 (7.9%) 0.73 593
2018-06-01 $219,000 (20.0%) $281,976 (8.6%) 0.73 621
2018-07-01 $214,900 (13.2%) $279,985 (10.9%) 0.72 646
2018-08-01 $206,875 (11.8%) $272,457 (9.2%) 0.69 622
2018-09-01 $199,500 (6.1%) $262,253 (3.6%) 0.67 613
2018-10-01 $199,500 (3.9%) $259,391 (0.5%) 0.68 599
2018-11-01 $189,950 (0.8%) $259,480 (3.5%) 0.64 579
2018-12-01 $195,000 (2.6%) $259,916 (1.3%) 0.67 552
2019-01-01 $195,000 (0.3%) $258,478 (0.0%) 0.67 527
2019-02-01 $199,445 (0.7%) $266,038 (0.5%) 0.67 517
2019-03-01 $196,143 (-4.3%) $267,957 (-1.5%) 0.64 531
2019-04-01 $195,143 (-7.0%) $269,573 (-2.4%) 0.62 540
2019-05-01 $196,600 (-10.2%) $274,309 (-2.7%) 0.61 515
2019-06-01 $199,900 (-8.7%) $276,538 (-1.9%) 0.62 534
2019-07-01 $209,900 (-2.3%) $276,293 (-1.3%) 0.66 558
2019-08-01 $195,536 (-5.5%) $269,001 (-1.3%) 0.62 564
2019-09-01 $188,991 (-5.3%) $259,839 (-0.9%) 0.60 556
2019-10-01 $184,225 (-7.7%) $253,295 (-2.4%) 0.59 546
2019-11-01 $185,900 (-2.1%) $249,271 (-3.9%) 0.61 532
2019-12-01 $192,700 (-1.2%) $251,445 (-3.3%) 0.64 497
2020-01-01 $190,200 (-2.5%) $250,463 (-3.1%) 0.64 466
2020-02-01 $194,900 (-2.3%) $253,245 (-4.8%) 0.64 466
2020-03-01 $198,725 (1.3%) $257,156 (-4.0%) 0.62 430
2020-04-01 $198,125 (1.5%) $260,083 (-3.5%) 0.62 440
2020-05-01 $214,750 (9.2%) $274,360 (0.0%) 0.65 390
2020-06-01 $219,900 (10.0%) $276,264 (-0.1%) 0.65 378
2020-07-01 $237,450 (13.1%) $282,931 (2.4%) 0.69 342
2020-08-01 $254,950 (30.4%) $299,200 (11.2%) 0.73 307
2020-09-01 $249,925 (32.2%) $301,290 (16.0%) 0.72 315
2020-10-01 $237,000 (28.7%) $311,821 (23.1%) 0.68 322
2020-11-01 $233,875 (25.8%) $321,232 (28.9%) 0.68 303
2020-12-01 $234,475 (21.7%) $334,726 (33.1%) 0.70 276
2021-01-01 $229,700 (20.8%) $343,165 (37.0%) 0.69 245
2021-02-01 $230,000 (18.0%) $346,881 (37.0%) 0.67 230
2021-03-01 $239,575 (20.6%) $355,631 (38.3%) 0.68 220
2021-04-01 $247,250 (24.8%) $383,790 (47.6%) 0.67 195
2021-05-01 $269,000 (25.3%) $410,176 (49.5%) 0.71 199
2021-06-01 $270,950 (23.2%) $429,289 (55.4%) 0.71 181
2021-07-01 $239,250 (0.8%) $379,301 (34.1%) 0.63 211
2021-08-01 $235,000 (-7.8%) $347,586 (16.2%) 0.63 246
2021-09-01 $235,875 (-5.6%) $343,562 (14.0%) 0.63 243
2021-10-01 $224,900 (-5.1%) $322,730 (3.5%) 0.60 238
2021-11-01 $222,975 (-4.7%) $312,363 (-2.8%) 0.60 237
2021-12-01 $206,650 (-11.9%) $310,792 (-7.2%) 0.56 217
2022-01-01 $226,450 (-1.4%) $349,794 (1.9%) 0.61 177
2022-02-01 $238,653 (3.8%) $393,242 (13.4%) 0.62 145
2022-03-01 $248,500 (3.7%) $389,513 (9.5%) 0.62 150
2022-04-01 $293,250 (18.6%) $406,989 (6.0%) 0.70 150
2022-05-01 $300,400 (11.7%) $412,085 (0.5%) 0.69 196
2022-06-01 $299,050 (10.4%) $395,672 (-7.8%) 0.67 224
2022-07-01 $295,000 (23.3%) $364,514 (-3.9%) 0.66 277
2022-08-01 $279,600 (19.0%) $330,691 (-4.9%) 0.65 296
2022-09-01 $279,900 (18.7%) $340,706 (-0.8%) 0.65 276
2022-10-01 $298,500 (32.7%) $350,801 (8.7%) 0.70 280
2022-11-01 $290,100 (30.1%) $346,915 (11.1%) 0.70 283
2022-12-01 $279,150 (35.1%) $344,616 (10.9%) 0.69 303
2023-01-01 $282,000 (24.5%) $339,762 (-2.9%) 0.70 287
2023-02-01 $298,550 (25.1%) $367,587 (-6.5%) 0.72 270
2023-03-01 $297,125 (19.6%) $354,292 (-9.0%) 0.70 250
2023-04-01 $290,000 (-1.1%) $358,125 (-12.0%) 0.67 263
2023-05-01 $289,950 (-3.5%) $369,034 (-10.5%) 0.66 262
2023-06-01 $297,950 (-0.4%) $368,712 (-6.8%) 0.67 293
2023-07-01 $295,000 (0.0%) $365,509 (0.3%) 0.67 311
2023-08-01 $296,250 (6.0%) $367,129 (11.0%) 0.68 303
2023-09-01 $289,000 (3.3%) $353,869 (3.9%) 0.67 322
2023-10-01 $285,000 (-4.5%) $353,560 (0.8%) 0.67 339
2023-11-01 $281,500 (-3.0%) $372,109 (7.3%) 0.67 362
2023-12-01 $274,900 (-1.5%) $376,550 (9.3%) 0.67 363
2024-01-01 $282,300 (0.1%) $384,101 (13.1%) 0.69 359
2024-02-01 $289,750 (-3.0%) $383,523 (4.3%) 0.70 357
2024-03-01 $298,000 (0.3%) $399,070 (12.6%) 0.70 353
2024-04-01 $314,950 (8.6%) $394,380 (10.1%) 0.73 382
Hattiesburg's median listing price for 2024-04-01 was $314,950, a difference of $24,950 (8.6%) versus the prior year and $16,950 versus the prior month.

Hattiesburg's median listing price comes in at 73% of the national average.

Hattiesburg's average listing price for 2024-04-01 was $394,380, a difference of $36,255 (10.1%) versus the prior year and $-4,690 versus the prior month.

For the 2024-04-01 period, Hattiesburg had 382 MLS listings, a difference of 29 listings (8%) versus the prior month and 119 listings (45%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hattiesburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 95 days 2,003 sqft
2018-02-01 88 days 2,024 sqft
2018-03-01 61 days 2,107 sqft
2018-04-01 59 days 2,138 sqft
2018-05-01 68 days 2,172 sqft
2018-06-01 72 days 2,200 sqft
2018-07-01 71 days 2,155 sqft
2018-08-01 75 days 2,129 sqft
2018-09-01 78 days 2,097 sqft
2018-10-01 81 days 2,071 sqft
2018-11-01 83 days 2,075 sqft
2018-12-01 95 days 2,072 sqft
2019-01-01 92 days 2,036 sqft
2019-02-01 91 days 2,027 sqft
2019-03-01 73 days 2,069 sqft
2019-04-01 61 days 2,107 sqft
2019-05-01 62 days 2,137 sqft
2019-06-01 64 days 2,160 sqft
2019-07-01 66 days 2,182 sqft
2019-08-01 68 days 2,156 sqft
2019-09-01 68 days 2,091 sqft
2019-10-01 71 days 2,044 sqft
2019-11-01 75 days 2,016 sqft
2019-12-01 81 days 1,999 sqft
2020-01-01 80 days 2,000 sqft
2020-02-01 78 days 1,977 sqft
2020-03-01 62 days 2,008 sqft
2020-04-01 64 days 1,996 sqft
2020-05-01 67 days 2,076 sqft
2020-06-01 68 days 2,143 sqft
2020-07-01 64 days 2,135 sqft
2020-08-01 57 days 2,265 sqft
2020-09-01 56 days 2,206 sqft
2020-10-01 52 days 2,141 sqft
2020-11-01 59 days 2,174 sqft
2020-12-01 66 days 2,110 sqft
2021-01-01 69 days 2,089 sqft
2021-02-01 54 days 2,090 sqft
2021-03-01 46 days 2,076 sqft
2021-04-01 44 days 2,212 sqft
2021-05-01 43 days 2,256 sqft
2021-06-01 44 days 2,303 sqft
2021-07-01 37 days 2,100 sqft
2021-08-01 37 days 2,019 sqft
2021-09-01 45 days 1,969 sqft
2021-10-01 50 days 1,910 sqft
2021-11-01 55 days 1,910 sqft
2021-12-01 60 days 1,795 sqft
2022-01-01 64 days 1,852 sqft
2022-02-01 62 days 2,048 sqft
2022-03-01 33 days 2,148 sqft
2022-04-01 35 days 2,200 sqft
2022-05-01 25 days 2,171 sqft
2022-06-01 32 days 2,170 sqft
2022-07-01 34 days 2,151 sqft
2022-08-01 48 days 2,097 sqft
2022-09-01 58 days 2,232 sqft
2022-10-01 58 days 2,276 sqft
2022-11-01 62 days 2,175 sqft
2022-12-01 64 days 2,103 sqft
2023-01-01 65 days 2,142 sqft
2023-02-01 66 days 2,186 sqft
2023-03-01 53 days 2,156 sqft
2023-04-01 46 days 2,100 sqft
2023-05-01 44 days 2,078 sqft
2023-06-01 41 days 2,061 sqft
2023-07-01 50 days 2,056 sqft
2023-08-01 58 days 2,091 sqft
2023-09-01 51 days 2,005 sqft
2023-10-01 52 days 2,002 sqft
2023-11-01 56 days 2,004 sqft
2023-12-01 61 days 1,913 sqft
2024-01-01 67 days 1,911 sqft
2024-02-01 63 days 1,980 sqft
2024-03-01 49 days 2,040 sqft
2024-04-01 46 days 2,147 sqft
Hattiesburg's median listing age (time on market) for 2024-04-01 was 46 days. This is -1% shorter than the same period one year ago.

Hattiesburg's median square footage for active listings during the 2024-04-01 period was 2,147 sqft. One year prior, the average listing was 2,100 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).