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 116 lenders originated 1,314 FHA loans during 2024. The total origination value was $310,160,000, with an average FHA loan value of $236,043.

Hickory FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Hickory averaged 0.12% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

Hickory's average FHA mortgage closing costs are $7,796.

The average rate for the prior week (2025-06-13) was 6.7% and one month ago for the week of 2025-05-16, the average rate was 6.46%.

The average rate one year ago was 6.81%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.13%.

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

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.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
QUICKEN LOANS, LLC 143 6.37% $10,205
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 115 6.66% $11,067
CROSSCOUNTRY MORTGAGE, LLC 114 6.61% $10,701
UNITED WHOLESALE MORTGAGE, LLC 78 6.21% $12,027
DHI MORTGAGE COMPANY, LTD. 52 4.98% $6,274
EAGLE HOME MORTGAGE, LLC 48 6.02% $6,912
MOVEMENT MORTGAGE, LLC 36 6.64% $10,686
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 36 6.56% $9,933
FREEDOM MORTGAGE CORPORATION 34 6.45% $10,217
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 34 6.85% $9,047
LOANDEPOT.COM, LLC 32 6.27% $9,755
SeaTrust Mortgage Company 29 6.29% $12,055
CARDINAL FINANCIAL 27 6.70% $11,073
GUILD MORTGAGE COMPANY 25 6.78% $10,759
INSPIRE HOME LOANS INC. 24 5.31% $9,718
BROKER SOLUTIONS, INC. 18 6.85% $12,017
NVR Mortgage Finance, Inc. 13 5.74% $9,724
Equity Prime Mortgage LLC 12 6.85% $12,532
PENNYMAC LOAN SERVICES, LLC 12 5.89% $9,463
Alcova Mortgage LLC 12 6.63% $8,409
Truist 11 6.46% $8,819
RELIANCE FIRST CAPITAL, LLC 10 6.93% $9,528
Carrington Mortgage Services, LLC 10 6.31% $9,485
NEWREZ LLC 9 6.67% $10,470
MUTUAL OF OMAHA MORTGAGE, INC. 9 6.29% $13,430
VILLAGE CAPITAL MORTGAGE 9 6.54% $6,617
LOANPAL, LLC 9 5.49% $10,736
AMERISAVE MORTGAGE CORPORATION 8 6.25% $13,116
Flagstar Bank, FSB 8 6.04% $10,501
M/I FINANCIAL, LLC 7 4.73% $23,368
T2 FINANCIAL LLC 7 6.63% $12,972
Mr. Cooper ( Nationstar Mortgage ) 7 6.75% $10,215
HOMESIDE FINANCIAL, LLC 6 6.27% $12,463
PRIMARY RESIDENTIAL MORTGAGE, INC. 6 6.83% $7,573
UNION HOME MORTGAGE CORP. 6 6.85% $13,714
First-Citizens Bank & Trust Company 6 5.94% $9,474
AMERICAN FINANCING CORPORATION 5 6.32% $10,845
Mortgage Research Center, LLC 5 6.13% $11,721
LAKEVIEW LOAN SERVICING, LLC 5 6.65% $7,114
Fifth Third Bank 5 6.47% $10,714
HOWARD HANNA FINANCIAL SERVICES, INC. 5 6.65% $11,138
GUARANTEED RATE, INC. 5 6.79% $8,573
PLANET HOME LENDING, LLC 4 6.41% $13,049
NFM, INC. 4 6.50% $14,080
PLAZA HOME MORTGAGE, INC. 4 7.25% $8,410
AMERICAN FINANCIAL NETWORK, INC. 4 6.72% $13,793
American Security Mortgage Corp. 4 6.44% $7,928
SUMMIT FUNDING, INC. 3 7.00% $9,401
SOUTHERN TRUST MORTGAGE, LLC 3 6.75% $9,851
INTERCOASTAL MORTGAGE COMPANY 3 6.67% $8,807
Century Mortgage Company DBA Century Lending Company 3 6.54% $11,984
First Heritage Mortgage, LLC 3 6.67% $12,464
MILEND, INC. 3 6.33% $15,234
TOP FLITE FINANCIAL, INC. 3 7.08% $11,906
ZILLOW HOME LOANS, LLC 3 6.75% $10,535
SECURITYNATIONAL MORTGAGE COMPANY 2 6.63% $12,959
Mortgage Assurance Inc. 2 6.69% $8,886
EVERETT FINANCIAL, INC. 2 6.88% $18,156
Paramount Residential Mortgage Group, Inc. 2 6.19% $10,536
Renasant Bank 2 6.38% $14,154
ENVOY MORTGAGE, LTD 2 6.88% $13,918
Ameris Bank 2 6.44% $9,301
PHH Mortgage Corporation 2 6.81% $12,575
CALCON MUTUAL MORTGAGE LLC 2 6.06% $13,524
PENTAGON FEDERAL CREDIT UNION 2 5.69% $13,152
First Federal Bank 2 5.31% $7,012
The Federal Savings Bank 2 6.50% $10,099
SUN WEST MORTGAGE COMPANY, INC. 2 6.00% $14,117
Summit Mortgage Corporation 2 6.25% $8,960
C & F Mortgage Corporation 2 6.13% $8,600
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 7.19% $11,714
AMERICAN PACIFIC MORTGAGE CORPORATION 2 7.19% $13,236
NEW DAY FINANCIAL, LLC 1 7.63% $4,043
A&D Mortgage LLC 1 5.75% $10,919
ALLIED MORTGAGE GROUP, INC. 1 6.25% $14,392
AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $12,002
American Mortgage & Equity Consultants, Inc. 1 6.75% $13,234
AmeriHome Mortgage Company, LLC 1 6.63% $6,476
BETTER MORTGAGE CORPORATION 1 6.25% $11,469
Chickasaw Community Bank 1 6.38% $8,054
CHURCHILL MORTGAGE CORPORATION 1 6.49% $13,972
CMG MORTGAGE, INC. 1 7.25% $5,841
CORNERSTONE HOME LENDING, INC. 1 6.75% $12,491
EMBRACE HOME LOANS, INC. 1 7.13% $9,585
EMM LOANS LLC 1 6.25% $19,883
FIRST COMMUNITY MORTGAGE, INC. 1 6.75% $14,012
First Horizon Bank 1 6.63% $8,102
GoPrime Mortgage, Inc. 1 7.25% $10,460
GUARANTEED RATE AFFINITY, LLC 1 6.13% $5,418
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 7.63% $9,497
Integrity Home Mortgage Corp 1 7.00% $8,687
JMAC LENDING, INC. 1 6.25% $12,066
LEADERONE FINANCIAL CORPORATION 1 6.99% $9,984
MICHIGAN MUTUAL, INC. 1 5.75% $8,461
MID AMERICA MORTGAGE, INC. 1 7.25% $4,867
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $10,480
Nations Lending Corporation 1 6.50% $17,323
NBKC BANK 1 7.13% $8,084
NETWORK CAPITAL FUNDING CORPORATION 1 6.13% $14,860
ABSOLUTE HOME MORTGAGE CORPORATION 1 6.50% $9,637
ON Q FINANCIAL, INC. 1 7.25% $11,968
POLARIS HOME FUNDING CORP. 1 6.75% $9,677
Prosperity Home Mortgage, LLC 1 5.25% $13,136
Regions Bank 1 6.25% $14,355
Residential Mortgage Solutions, Inc. 1 6.63% $10,419
ROYAL UNITED MORTGAGE LLC 1 6.63% $11,586
S1L, Inc. 1 5.75% $13,141
South State Bank 1 6.38% $10,547
TJC Mortgage, Inc. 1 7.13% $11,023
TOTAL MORTGAGE SERVICES, LLC 1 7.25% $12,227
TOWNE MORTGAGE COMPANY 1 6.25% $9,391
UNITED MORTGAGE CORP 1 6.25% $14,236
U.S. Bank 1 6.63% $3,923
VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.75% $7,512
VERITAS FUNDING, LLC 1 5.25% $13,350
Wells Fargo Bank 1 6.63% $8,809

The top Hickory FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 143 FHA loans originated. Their average total fees are $10,205, which is $862 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 DHI MORTGAGE COMPANY, LTD. ($6,274), EAGLE HOME MORTGAGE, LLC ($6,912), Alcova Mortgage LLC ($8,409), Truist ($8,819) and HIGHLANDS RESIDENTIAL MORTGAGE, LTD. ($9,047).

The lowest rate Hickory FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.98%), INSPIRE HOME LOANS INC. (5.31%), NVR Mortgage Finance, Inc. (5.74%), PENNYMAC LOAN SERVICES, LLC (5.89%) and EAGLE HOME MORTGAGE, LLC (6.02%).

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

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).