Hattiesburg FHA Loans

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 75 lenders originated 655 FHA loans during 2021. The total origination value was $141,585,000, with an average FHA loan value of $216,160.

Hattiesburg FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Hattiesburg averaged 5.12% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

The average rate for the prior week (2022-05-06) was 5.35% and one month ago for the week of 2022-04-08, the average rate was 4.81%.

The average rate one year ago was 2.92%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.1%.

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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Hattiesburg level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Trustmark National Bank 102 2.76% $6,246
LOANDEPOT.COM, LLC 72 3.25% $7,147
QUICKEN LOANS, LLC 64 2.70% $5,264
CALIBER HOME LOANS, INC. 40 2.99% $7,738
Community Bank of Mississippi 21 2.77% $6,677
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 20 3.07% $7,203
BancorpSouth Bank 15 2.89% $6,028
Mr. Cooper ( Nationstar Mortgage ) 13 3.18% $4,402
ACADEMY MORTGAGE CORPORATION 12 3.14% $7,852
UNITED WHOLESALE MORTGAGE, LLC 12 2.56% $8,177
Regions Bank 10 3.09% $5,344
PENNYMAC LOAN SERVICES, LLC 10 3.19% $3,362
GUILD MORTGAGE COMPANY 9 2.71% $6,341
STOCKTON MORTGAGE CORPORATION 7 2.93% $7,880
Bank of England 7 3.16% $6,757
LAKEVIEW LOAN SERVICING, LLC 6 3.06% $3,755
HOME POINT FINANCIAL CORPORATION 6 2.69% $5,606
NEWREZ LLC 5 3.33% $5,556
EVERETT FINANCIAL, INC. 5 3.55% $6,167
CMG MORTGAGE, INC. 4 2.87% $8,405
Hamilton Mortgage Corporation 4 3.50% $6,501
Hancock Whitney Bank 4 2.56% $7,757
Hometown Lenders, Inc. 4 3.50% $8,328
VILLAGE CAPITAL & INVESTMENT LLC 4 2.87% $1,683
PLANET HOME LENDING, LLC 4 3.53% $8,713
FIRST COMMUNITY MORTGAGE, INC. 4 3.00% $6,693
Carrington Mortgage Services, LLC 3 3.25% $6,427
Flagstar Bank, FSB 3 2.96% $7,136
FREEDOM MORTGAGE CORPORATION 3 2.92% $3,735
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 3.08% $7,456
Renasant Bank 3 3.21% $5,659
Paramount Residential Mortgage Group, Inc. 3 3.38% $7,071
BROKER SOLUTIONS, INC. 3 3.12% $8,190
CORNERSTONE HOME LENDING, INC. 3 3.42% $7,153
MORTGAGE INVESTORS GROUP, INC. 3 3.00% $6,564
Citizens Bank 3 2.71% $7,445
ZILLOW HOME LOANS, LLC 2 3.13% $7,433
AMERICAN PACIFIC MORTGAGE CORPORATION 2 3.00% $10,140
AMERISAVE MORTGAGE CORPORATION 2 2.94% $8,261
ANGEL OAK HOME LOANS LLC 2 3.19% $6,265
CROSSCOUNTRY MORTGAGE, LLC 2 3.19% $7,825
DAS Acquisition Company, LLC 2 3.34% $5,041
DELMAR FINANCIAL COMPANY 2 3.12% $6,469
FAY SERVICING, LLC 2 2.75% $6,634
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.38% $5,419
MID AMERICA MORTGAGE, INC. 2 2.38% $3,415
OCEANSIDE MORTGAGE COMPANY 2 2.49% $2,389
U.S. Bank 2 2.63% $5,823
VANDERBILT MORTGAGE AND FINANCE, INC. 2 3.69% $7,710
AMERICAN FINANCIAL RESOURCES, INC. 1 3.13% $5,439
Grand Bank for Savings, FSB 1 2.63% $5,309
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $8,186
GMFS LLC 1 2.25% $6,435
First Option Mortgage, LLC 1 3.13% $9,932
AMERICAN FINANCIAL NETWORK, INC. 1 3.25% $9,239
First Guaranty Mortgage Corporation 1 3.75% $9,424
FINANCE OF AMERICA MORTGAGE LLC 1 4.25% $3,382
Peoples Bank 1 2.75% $4,378
FIDELITY BANK 1 3.25% $8,885
PLAZA HOME MORTGAGE, INC. 1 2.99% $5,285
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.13% $12,055
Progress Bank and Trust 1 2.63% $6,066
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.13% $13,573
BankPlus 1 3.13% $3,433
Austin Capital Bank SSB 1 3.13% $6,921
RESOURCE FINANCIAL SERVICES, INC. 1 2.88% $9,101
Amerifirst Financial, Inc. 1 3.00% $4,965
SUCCESS MORTGAGE PARTNERS, INC. 1 4.13% $7,290
SUN WEST MORTGAGE COMPANY, INC. 1 3.63% $7,717
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.50% $7,694
AMERICAN FINANCING CORPORATION 1 4.00% $6,778
Ixonia Bank 1 3.25% $6,749
KEESLER 1 3.00% $6,555
INLANTA MORTGAGE, INC. 1 2.88% $7,782
HOMESIDE FINANCIAL, LLC 1 3.25% $8,136

The top Hattiesburg FHA lender as defined by loan originations is Trustmark National Bank, with 102 FHA loans originated. Their average total fees are $6,246, which is $902 lower than the next largest lender, LOANDEPOT.COM, LLC.

The lowest fee Hattiesburg FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC ($3,362), Mr. Cooper ( Nationstar Mortgage ) ($4,402), QUICKEN LOANS, LLC ($5,264), Regions Bank ($5,344) and BancorpSouth Bank ($6,028).

The lowest rate Hattiesburg FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (2.56%), QUICKEN LOANS, LLC (2.70%), Trustmark National Bank (2.76%), Community Bank of Mississippi (2.77%) and BancorpSouth Bank (2.89%).

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

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 $186,750 (5.5%) $255,569 (10.2%) 0.69 528
2018-02-01 $194,950 (10.3%) $262,350 (8.6%) 0.70 517
2018-03-01 $200,000 (11.3%) $271,931 (8.2%) 0.69 542
2018-04-01 $208,250 (12.6%) $276,467 (7.6%) 0.70 581
2018-05-01 $219,450 (20.3%) $283,752 (9.3%) 0.73 576
2018-06-01 $219,900 (17.3%) $284,487 (10.0%) 0.73 592
2018-07-01 $219,200 (15.4%) $282,292 (12.3%) 0.73 630
2018-08-01 $211,950 (11.9%) $275,112 (9.9%) 0.71 609
2018-09-01 $199,750 (5.2%) $262,523 (4.1%) 0.67 605
2018-10-01 $199,900 (3.0%) $265,012 (3.2%) 0.67 587
2018-11-01 $194,900 (3.1%) $263,035 (5.5%) 0.65 580
2018-12-01 $197,500 (4.0%) $264,265 (3.6%) 0.68 553
2019-01-01 $197,500 (5.8%) $263,683 (3.2%) 0.68 522
2019-02-01 $203,000 (4.1%) $271,124 (3.3%) 0.68 516
2019-03-01 $199,729 (-0.1%) $274,661 (1.0%) 0.65 528
2019-04-01 $199,529 (-4.2%) $275,041 (-0.5%) 0.63 535
2019-05-01 $199,700 (-9.0%) $280,241 (-1.2%) 0.62 502
2019-06-01 $199,900 (-9.1%) $279,451 (-1.8%) 0.62 513
2019-07-01 $207,450 (-5.4%) $275,051 (-2.6%) 0.64 535
2019-08-01 $197,357 (-6.9%) $268,164 (-2.5%) 0.62 534
2019-09-01 $190,200 (-4.8%) $259,053 (-1.3%) 0.60 522
2019-10-01 $183,200 (-8.4%) $251,533 (-5.1%) 0.58 525
2019-11-01 $184,900 (-5.1%) $248,548 (-5.5%) 0.60 505
2019-12-01 $189,900 (-3.9%) $247,954 (-6.2%) 0.63 483
2020-01-01 $189,900 (-3.9%) $247,865 (-6.0%) 0.63 459
2020-02-01 $191,000 (-5.9%) $251,524 (-7.2%) 0.62 447
2020-03-01 $194,900 (-2.4%) $256,534 (-6.6%) 0.61 419
2020-04-01 $192,450 (-3.6%) $256,442 (-6.8%) 0.60 432
2020-05-01 $205,000 (2.7%) $269,957 (-3.7%) 0.62 387
2020-06-01 $219,400 (9.8%) $271,187 (-3.0%) 0.64 362
2020-07-01 $234,250 (12.9%) $275,729 (0.3%) 0.67 332
2020-08-01 $255,000 (29.2%) $298,578 (11.3%) 0.73 288
2020-09-01 $259,450 (36.4%) $304,003 (17.4%) 0.74 296
2020-10-01 $236,900 (29.3%) $307,904 (22.4%) 0.68 311
2020-11-01 $239,200 (29.4%) $318,767 (28.3%) 0.68 291
2020-12-01 $237,700 (25.2%) $326,252 (31.6%) 0.70 269
2021-01-01 $229,500 (20.9%) $333,796 (34.7%) 0.68 230
2021-02-01 $239,230 (25.3%) $337,961 (34.4%) 0.69 214
2021-03-01 $243,450 (24.9%) $352,983 (37.6%) 0.68 207
2021-04-01 $249,900 (29.9%) $377,726 (47.3%) 0.67 190
2021-05-01 $269,900 (31.7%) $420,350 (55.7%) 0.71 187
2021-06-01 $279,150 (27.2%) $430,468 (58.7%) 0.73 172
2021-07-01 $249,900 (6.7%) $391,928 (42.1%) 0.65 192
2021-08-01 $241,400 (-5.3%) $350,393 (17.4%) 0.63 245
2021-09-01 $244,000 (-6.0%) $345,825 (13.8%) 0.64 245
2021-10-01 $228,900 (-3.4%) $337,169 (9.5%) 0.60 242
2021-11-01 $229,450 (-4.1%) $315,615 (-1.0%) 0.60 235
2021-12-01 $223,000 (-6.2%) $311,959 (-4.4%) 0.59 215
2022-01-01 $229,900 (0.2%) $353,110 (5.8%) 0.61 179
2022-02-01 $253,950 (6.2%) $409,648 (21.2%) 0.65 146
2022-03-01 $257,500 (5.8%) $405,809 (15.0%) 0.64 147
2022-04-01 $299,000 (19.7%) $415,784 (10.1%) 0.70 149
Hattiesburg's median listing price for 2022-04-01 was $299,000, a difference of $49,100 (19.7%) versus the prior year and $41,500 versus the prior month.

Hattiesburg's median listing price comes in at 70% of the national average.

Hattiesburg's average listing price for 2022-04-01 was $415,784, a difference of $38,058 (10.1%) versus the prior year and $9,975 versus the prior month.

For the 2022-04-01 period, Hattiesburg had 149 MLS listings, a difference of 2 listings (1%) versus the prior month and -41 listings (-22%) 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
2018-01-01 101 days 1,998 sqft
2018-02-01 96 days 2,036 sqft
2018-03-01 69 days 2,120 sqft
2018-04-01 60 days 2,196 sqft
2018-05-01 71 days 2,187 sqft
2018-06-01 74 days 2,235 sqft
2018-07-01 74 days 2,204 sqft
2018-08-01 78 days 2,165 sqft
2018-09-01 78 days 2,130 sqft
2018-10-01 81 days 2,102 sqft
2018-11-01 83 days 2,117 sqft
2018-12-01 94 days 2,132 sqft
2019-01-01 96 days 2,049 sqft
2019-02-01 99 days 2,049 sqft
2019-03-01 68 days 2,081 sqft
2019-04-01 64 days 2,111 sqft
2019-05-01 67 days 2,223 sqft
2019-06-01 69 days 2,251 sqft
2019-07-01 72 days 2,235 sqft
2019-08-01 78 days 2,236 sqft
2019-09-01 74 days 2,186 sqft
2019-10-01 72 days 2,079 sqft
2019-11-01 77 days 2,041 sqft
2019-12-01 80 days 2,027 sqft
2020-01-01 80 days 2,041 sqft
2020-02-01 79 days 2,001 sqft
2020-03-01 63 days 2,059 sqft
2020-04-01 63 days 2,008 sqft
2020-05-01 73 days 2,131 sqft
2020-06-01 72 days 2,195 sqft
2020-07-01 65 days 2,183 sqft
2020-08-01 61 days 2,359 sqft
2020-09-01 58 days 2,267 sqft
2020-10-01 52 days 2,178 sqft
2020-11-01 60 days 2,238 sqft
2020-12-01 65 days 2,189 sqft
2021-01-01 70 days 2,077 sqft
2021-02-01 58 days 2,034 sqft
2021-03-01 48 days 2,125 sqft
2021-04-01 41 days 2,211 sqft
2021-05-01 46 days 2,275 sqft
2021-06-01 44 days 2,383 sqft
2021-07-01 37 days 2,290 sqft
2021-08-01 37 days 2,089 sqft
2021-09-01 45 days 2,043 sqft
2021-10-01 51 days 1,957 sqft
2021-11-01 54 days 1,940 sqft
2021-12-01 63 days 1,845 sqft
2022-01-01 68 days 1,950 sqft
2022-02-01 68 days 2,247 sqft
2022-03-01 35 days 2,147 sqft
2022-04-01 37 days 2,183 sqft
Hattiesburg's median listing age (time on market) for 2022-04-01 was 37 days. This is -10% shorter than the same period one year ago.

Hattiesburg's median square footage for active listings during the 2022-04-01 period was 2,183 sqft. One year prior, the average listing was 2,211 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).