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).