Hickory FHA Loan Rates, Closing Costs & Stats
HICKORY-LENOIR-MORGANTON, NC
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.
Hickory's 137 lenders originated 1,164 FHA loans during 2022. The total origination value was $223,970,000, with an average FHA loan value of $192,414.
Hickory FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Hickory
averaged
-0.56%
for the week of 2023-11-24, compared to the national average (all FHA variants) of
0% for the same period.
Hickory's average FHA mortgage closing costs are $6,706.
The average rate for the prior week (2023-11-17) was
6.74% and
one month ago for the week of 2023-10-20, the
average rate was 6.84%.
The average rate one year ago was 5.77%.
For refis of the same type during the week of 2023-11-24, the average rate
was -1.7%.
Hickory 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 Hickory level.
The top Hickory FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
152 FHA loans originated. Their average total fees are
$8,629, which is $1,404
lower than the next largest lender,
ATLANTIC BAY MORTGAGE GROUP, L.L.C..
The lowest fee Hickory FHA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($5,996), MOVEMENT MORTGAGE, LLC ($7,697), Alcova Mortgage LLC ($7,917), HOMESIDE FINANCIAL, LLC ($7,983) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,334).
The lowest rate Hickory FHA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (4.24%), LAKEVIEW LOAN SERVICING, LLC (4.31%), QUICKEN LOANS, LLC (4.50%), LOANDEPOT.COM, LLC (4.52%) and INSPIRE HOME LOANS INC. (4.57%).
Hickory FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
HICKORY-LENOIR-MORGANTON, NC | ALEXANDER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
HICKORY-LENOIR-MORGANTON, NC | BURKE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
HICKORY-LENOIR-MORGANTON, NC | CALDWELL | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
HICKORY-LENOIR-MORGANTON, NC | CATAWBA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
HICKORY-LENOIR-MORGANTON, NC | ALEXANDER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
HICKORY-LENOIR-MORGANTON, NC | BURKE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
HICKORY-LENOIR-MORGANTON, NC | CALDWELL | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
HICKORY-LENOIR-MORGANTON, NC | CATAWBA | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Hickory (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $229,250 (27.4%) | $314,546 (18.8%) | 0.85 | 1,032 |
2018-02-01 | $232,175 (25.8%) | $322,146 (18.8%) | 0.84 | 1,095 |
2018-03-01 | $247,198 (28.7%) | $342,946 (23.3%) | 0.87 | 1,058 |
2018-04-01 | $253,680 (23.8%) | $349,065 (22.0%) | 0.86 | 1,116 |
2018-05-01 | $257,400 (19.8%) | $353,484 (21.3%) | 0.86 | 1,110 |
2018-06-01 | $259,900 (19.5%) | $359,066 (18.1%) | 0.87 | 1,119 |
2018-07-01 | $251,950 (14.6%) | $353,646 (14.4%) | 0.84 | 1,196 |
2018-08-01 | $249,500 (10.9%) | $355,552 (16.1%) | 0.84 | 1,221 |
2018-09-01 | $239,900 (6.6%) | $341,633 (9.7%) | 0.81 | 1,264 |
2018-10-01 | $241,150 (6.3%) | $338,343 (7.8%) | 0.82 | 1,269 |
2018-11-01 | $249,000 (6.0%) | $341,370 (7.2%) | 0.84 | 1,202 |
2018-12-01 | $249,000 (6.0%) | $340,450 (7.4%) | 0.86 | 1,141 |
2019-01-01 | $249,950 (9.0%) | $346,136 (10.0%) | 0.86 | 1,001 |
2019-02-01 | $251,768 (8.4%) | $342,304 (6.3%) | 0.85 | 984 |
2019-03-01 | $268,086 (8.5%) | $357,528 (4.3%) | 0.88 | 923 |
2019-04-01 | $281,950 (11.1%) | $377,789 (8.2%) | 0.90 | 866 |
2019-05-01 | $299,575 (16.4%) | $392,105 (10.9%) | 0.94 | 860 |
2019-06-01 | $299,700 (15.3%) | $398,534 (11.0%) | 0.94 | 871 |
2019-07-01 | $299,000 (18.7%) | $395,075 (11.7%) | 0.94 | 886 |
2019-08-01 | $296,382 (18.8%) | $392,608 (10.4%) | 0.94 | 873 |
2019-09-01 | $291,105 (21.3%) | $386,320 (13.1%) | 0.93 | 850 |
2019-10-01 | $281,000 (16.5%) | $378,602 (11.9%) | 0.91 | 841 |
2019-11-01 | $269,900 (8.4%) | $365,466 (7.1%) | 0.88 | 836 |
2019-12-01 | $274,300 (10.2%) | $368,974 (8.4%) | 0.91 | 774 |
2020-01-01 | $267,419 (7.0%) | $371,821 (7.4%) | 0.89 | 699 |
2020-02-01 | $260,000 (3.3%) | $370,128 (8.1%) | 0.85 | 683 |
2020-03-01 | $259,950 (-3.0%) | $361,819 (1.2%) | 0.81 | 676 |
2020-04-01 | $264,900 (-6.1%) | $358,474 (-5.1%) | 0.83 | 669 |
2020-05-01 | $269,900 (-9.9%) | $374,733 (-4.4%) | 0.82 | 589 |
2020-06-01 | $279,675 (-6.7%) | $391,134 (-1.9%) | 0.82 | 528 |
2020-07-01 | $299,500 (0.2%) | $398,104 (0.8%) | 0.87 | 490 |
2020-08-01 | $310,000 (4.6%) | $407,588 (3.8%) | 0.89 | 443 |
2020-09-01 | $299,450 (2.9%) | $409,055 (5.9%) | 0.86 | 513 |
2020-10-01 | $309,900 (10.3%) | $414,818 (9.6%) | 0.89 | 423 |
2020-11-01 | $299,950 (11.1%) | $417,739 (14.3%) | 0.88 | 436 |
2020-12-01 | $294,450 (7.4%) | $412,184 (11.7%) | 0.88 | 410 |
2021-01-01 | $285,000 (6.6%) | $421,896 (13.5%) | 0.85 | 364 |
2021-02-01 | $259,950 (0.0%) | $414,522 (12.0%) | 0.76 | 322 |
2021-03-01 | $264,500 (1.8%) | $414,660 (14.6%) | 0.75 | 287 |
2021-04-01 | $264,700 (-0.1%) | $416,582 (16.2%) | 0.72 | 281 |
2021-05-01 | $264,950 (-1.8%) | $433,273 (15.6%) | 0.70 | 297 |
2021-06-01 | $267,750 (-4.3%) | $428,482 (9.6%) | 0.70 | 342 |
2021-07-01 | $275,000 (-8.2%) | $410,979 (3.2%) | 0.73 | 393 |
2021-08-01 | $271,625 (-12.4%) | $391,920 (-3.8%) | 0.72 | 403 |
2021-09-01 | $272,450 (-9.0%) | $399,234 (-2.4%) | 0.73 | 405 |
2021-10-01 | $269,900 (-12.9%) | $403,974 (-2.6%) | 0.72 | 373 |
2021-11-01 | $281,950 (-6.0%) | $407,753 (-2.4%) | 0.75 | 356 |
2021-12-01 | $274,950 (-6.6%) | $417,807 (1.4%) | 0.75 | 311 |
2022-01-01 | $296,700 (4.1%) | $438,397 (3.9%) | 0.80 | 253 |
2022-02-01 | $294,350 (13.2%) | $427,885 (3.2%) | 0.77 | 233 |
2022-03-01 | $310,450 (17.4%) | $432,407 (4.3%) | 0.78 | 254 |
2022-04-01 | $300,000 (13.3%) | $450,281 (8.1%) | 0.72 | 249 |
2022-05-01 | $317,450 (19.8%) | $485,308 (12.0%) | 0.73 | 335 |
2022-06-01 | $326,750 (22.0%) | $481,784 (12.4%) | 0.73 | 383 |
2022-07-01 | $339,900 (23.6%) | $476,122 (15.9%) | 0.77 | 465 |
2022-08-01 | $346,895 (27.7%) | $478,304 (22.0%) | 0.80 | 504 |
2022-09-01 | $339,900 (24.8%) | $482,860 (21.0%) | 0.79 | 502 |
2022-10-01 | $339,900 (25.9%) | $477,720 (18.3%) | 0.80 | 520 |
2022-11-01 | $341,248 (21.0%) | $468,311 (14.9%) | 0.82 | 574 |
2022-12-01 | $329,900 (20.0%) | $466,320 (11.6%) | 0.81 | 529 |
2023-01-01 | $343,395 (15.7%) | $475,266 (8.4%) | 0.85 | 483 |
2023-02-01 | $349,925 (18.9%) | $480,465 (12.3%) | 0.85 | 436 |
2023-03-01 | $349,675 (12.6%) | $486,667 (12.6%) | 0.82 | 440 |
2023-04-01 | $369,900 (23.3%) | $509,681 (13.2%) | 0.86 | 448 |
2023-05-01 | $376,495 (18.6%) | $523,870 (8.0%) | 0.85 | 488 |
2023-06-01 | $385,000 (17.8%) | $525,487 (9.1%) | 0.87 | 481 |
2023-07-01 | $373,540 (9.9%) | $514,800 (8.1%) | 0.85 | 497 |
2023-08-01 | $369,900 (6.6%) | $504,256 (5.4%) | 0.85 | 552 |
2023-09-01 | $360,000 (5.9%) | $506,685 (4.9%) | 0.84 | 590 |
2023-10-01 | $349,950 (3.0%) | $505,553 (5.8%) | 0.82 | 601 |
Hickory's median listing price comes in at 82% of the national average.
Hickory's average listing price for 2023-10-01 was $505,553, a difference of $27,833 (5.8%) versus the prior year and $-1,132 versus the prior month.
For the 2023-10-01 period, Hickory had 601 MLS listings, a difference of 11 listings (2%) versus the prior month and 81 listings (16%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Hickory (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 104 days | 2,084 sqft |
2018-02-01 | 86 days | 2,073 sqft |
2018-03-01 | 73 days | 2,113 sqft |
2018-04-01 | 62 days | 2,142 sqft |
2018-05-01 | 61 days | 2,180 sqft |
2018-06-01 | 64 days | 2,109 sqft |
2018-07-01 | 65 days | 2,093 sqft |
2018-08-01 | 67 days | 2,105 sqft |
2018-09-01 | 73 days | 2,032 sqft |
2018-10-01 | 80 days | 2,083 sqft |
2018-11-01 | 87 days | 2,070 sqft |
2018-12-01 | 95 days | 2,052 sqft |
2019-01-01 | 96 days | 2,062 sqft |
2019-02-01 | 92 days | 2,010 sqft |
2019-03-01 | 79 days | 2,125 sqft |
2019-04-01 | 71 days | 2,211 sqft |
2019-05-01 | 65 days | 2,281 sqft |
2019-06-01 | 64 days | 2,353 sqft |
2019-07-01 | 64 days | 2,298 sqft |
2019-08-01 | 62 days | 2,269 sqft |
2019-09-01 | 65 days | 2,247 sqft |
2019-10-01 | 66 days | 2,203 sqft |
2019-11-01 | 65 days | 2,123 sqft |
2019-12-01 | 74 days | 2,110 sqft |
2020-01-01 | 84 days | 2,106 sqft |
2020-02-01 | 73 days | 2,071 sqft |
2020-03-01 | 55 days | 2,045 sqft |
2020-04-01 | 54 days | 2,041 sqft |
2020-05-01 | 60 days | 2,073 sqft |
2020-06-01 | 60 days | 2,105 sqft |
2020-07-01 | 52 days | 2,191 sqft |
2020-08-01 | 44 days | 2,177 sqft |
2020-09-01 | 38 days | 2,110 sqft |
2020-10-01 | 43 days | 2,202 sqft |
2020-11-01 | 44 days | 2,182 sqft |
2020-12-01 | 50 days | 2,080 sqft |
2021-01-01 | 58 days | 1,964 sqft |
2021-02-01 | 48 days | 1,926 sqft |
2021-03-01 | 41 days | 1,893 sqft |
2021-04-01 | 36 days | 1,918 sqft |
2021-05-01 | 29 days | 1,874 sqft |
2021-06-01 | 29 days | 1,827 sqft |
2021-07-01 | 29 days | 1,870 sqft |
2021-08-01 | 33 days | 1,903 sqft |
2021-09-01 | 39 days | 1,893 sqft |
2021-10-01 | 37 days | 1,828 sqft |
2021-11-01 | 40 days | 1,897 sqft |
2021-12-01 | 42 days | 1,809 sqft |
2022-01-01 | 46 days | 1,904 sqft |
2022-02-01 | 34 days | 1,876 sqft |
2022-03-01 | 27 days | 1,902 sqft |
2022-04-01 | 26 days | 1,808 sqft |
2022-05-01 | 27 days | 1,802 sqft |
2022-06-01 | 33 days | 1,902 sqft |
2022-07-01 | 32 days | 1,934 sqft |
2022-08-01 | 41 days | 1,976 sqft |
2022-09-01 | 43 days | 1,969 sqft |
2022-10-01 | 48 days | 1,970 sqft |
2022-11-01 | 47 days | 1,996 sqft |
2022-12-01 | 57 days | 1,927 sqft |
2023-01-01 | 71 days | 1,915 sqft |
2023-02-01 | 69 days | 1,887 sqft |
2023-03-01 | 43 days | 1,884 sqft |
2023-04-01 | 44 days | 1,998 sqft |
2023-05-01 | 40 days | 2,042 sqft |
2023-06-01 | 44 days | 2,038 sqft |
2023-07-01 | 43 days | 1,980 sqft |
2023-08-01 | 41 days | 1,978 sqft |
2023-09-01 | 44 days | 1,933 sqft |
2023-10-01 | 46 days | 1,816 sqft |
Hickory's median square footage for active listings during the 2023-10-01 period was 1,816 sqft. One year prior, the average listing was 1,970 sqft.