Hilton Head Island FHA Loan Rates, Closing Costs & Stats

HILTON HEAD ISLAND-BLUFFTON, SC

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits

    • 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.

    Hilton Head Island's 91 lenders originated 560 FHA loans during 2024. The total origination value was $185,280,000, with an average FHA loan value of $330,857.

    Hilton Head Island FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Hilton Head Island averaged 0.04% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Hilton Head Island's average FHA mortgage closing costs are $9,077.

    The average rate for the prior week (2025-06-13) was 6.72% and one month ago for the week of 2025-05-16, the average rate was 6.68%.

    The average rate one year ago was 6.73%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.5%.

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

    Hilton Head Island 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 Hilton Head Island level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 49 6.12% $15,155
    DHI MORTGAGE COMPANY, LTD. 39 5.27% $9,086
    QUICKEN LOANS, LLC 34 6.25% $14,730
    MOVEMENT MORTGAGE, LLC 21 6.81% $12,375
    VANDERBILT MORTGAGE AND FINANCE, INC. 15 5.82% $15,191
    UNION HOME MORTGAGE CORP. 14 6.68% $13,592
    Gateway First Bank 14 6.44% $12,202
    FREEDOM MORTGAGE CORPORATION 12 6.43% $14,791
    PENNYMAC LOAN SERVICES, LLC 12 5.97% $11,426
    EAGLE HOME MORTGAGE, LLC 11 6.10% $15,311
    JET HOMELOANS, LLC 10 5.88% $13,213
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 10 6.56% $11,374
    T2 FINANCIAL LLC 10 6.61% $13,071
    Ameris Bank 9 6.25% $14,416
    GUILD MORTGAGE COMPANY 8 6.33% $12,311
    SUN WEST MORTGAGE COMPANY, INC. 8 5.92% $11,610
    CANOPY MORTGAGE, LLC 8 5.91% $18,603
    GUARANTEED RATE, INC. 8 6.55% $13,237
    NEWREZ LLC 7 6.32% $11,147
    MUTUAL OF OMAHA MORTGAGE, INC. 7 6.46% $16,844
    CMG MORTGAGE, INC. 7 6.39% $15,765
    PULTE MORTGAGE LLC 7 5.25% $9,601
    HOMESIDE FINANCIAL, LLC 6 6.19% $14,221
    EMM LOANS LLC 6 6.27% $14,664
    CROSSCOUNTRY MORTGAGE, LLC 6 6.44% $11,747
    FIRST CONTINENTAL MORTGAGE, LTD. 6 6.13% $6,780
    South State Bank 5 6.23% $12,337
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 5 6.25% $15,764
    BROKER SOLUTIONS, INC. 5 6.50% $12,428
    ABSOLUTE HOME MORTGAGE CORPORATION 5 6.63% $14,584
    AMERISAVE MORTGAGE CORPORATION 4 6.22% $16,611
    First Heritage Mortgage, LLC 4 5.28% $11,881
    MORTGAGE EQUITY PARTNERS LLC 3 6.54% $16,395
    Carrington Mortgage Services, LLC 3 6.96% $16,792
    Equity Prime Mortgage LLC 3 7.00% $21,744
    EQUITY RESOURCES, INC. 3 6.67% $17,156
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.38% $12,596
    FIRST COMMUNITY MORTGAGE, INC. 3 6.38% $13,051
    LOANDEPOT.COM, LLC 3 6.62% $14,425
    MILEND, INC. 3 6.25% $22,016
    Mr. Cooper ( Nationstar Mortgage ) 3 6.54% $16,801
    Paramount Residential Mortgage Group, Inc. 3 6.54% $13,130
    PLAZA HOME MORTGAGE, INC. 3 6.21% $15,212
    VILLAGE CAPITAL MORTGAGE 3 6.50% $5,554
    East Coast Capital Corp. 2 7.00% $12,116
    LAKEVIEW LOAN SERVICING, LLC 2 6.00% $10,035
    LOANPAL, LLC 2 5.50% $11,326
    Magnolia Bank 2 6.50% $15,622
    AMERICAN FINANCING CORPORATION 2 5.18% $19,740
    NATION ONE MORTGAGE CORPORATION 2 6.75% $19,157
    Nations Lending Corporation 2 5.63% $15,142
    PLANET HOME LENDING, LLC 2 6.62% $12,478
    Prosperity Home Mortgage, LLC 2 6.87% $12,219
    RELIANCE FIRST CAPITAL, LLC 2 7.06% $14,107
    TOTAL MORTGAGE SERVICES, LLC 2 6.81% $19,974
    FBC MORTGAGE, LLC 2 4.99% $9,547
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.12% $17,870
    Mortgage Research Center, LLC 1 6.63% $9,418
    CAPITAL CENTER, L.L.C. 1 6.25% $7,581
    Texana Bank 1 6.25% $12,479
    CALCON MUTUAL MORTGAGE LLC 1 6.13% $18,674
    The Loan Store, Inc. 1 6.63% $18,194
    First-Citizens Bank & Trust Company 1 5.63% $13,446
    BAYCOAST MORTGAGE COMPANY, LLC 1 6.13% $8,002
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $27,264
    Barrington Bank & Trust Company, N.A. 1 6.75% $7,269
    PHH Mortgage Corporation 1 5.99% $17,452
    Plains Commerce Bank 1 5.25% $16,197
    Flagstar Bank, FSB 1 6.52% $7,789
    Wells Fargo Bank 1 6.63% $14,493
    Presidential Bank, FSB 1 5.88% $15,121
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $11,184
    GENEVA FINANCIAL, LLC 1 6.63% $17,269
    BANKSOUTH MORTGAGE COMPANY, LLC 1 6.25% $15,854
    Bank of England 1 6.63% $9,761
    GMFS LLC 1 6.63% $9,543
    Renasant Bank 1 6.75% $9,634
    SeaTrust Mortgage Company 1 6.13% $13,280
    Bank of America 1 5.38% $11,346
    INTERCOASTAL MORTGAGE COMPANY 1 5.75% $12,983
    Century Mortgage Company DBA Century Lending Company 1 6.13% $14,814
    CAROLINA ONE MORTGAGE, LLC 1 6.13% $16,440
    Kwik Mortgage Corporation 1 6.25% $13,378
    Lakeview Community Capital, LLC 1 6.75% $6,900
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.63% $11,911
    LIBERTY HOME MORTGAGE CORPORATION 1 7.13% $10,216
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.13% $14,249
    AXIA FINANCIAL, LLC 1 7.25% $18,364
    Assurance Financial Group, L.L.C. 1 6.75% $8,996
    United Community Bank 1 6.25% $8,051
    CARDINAL FINANCIAL 1 6.75% $8,617

    The top Hilton Head Island FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 49 FHA loans originated. Their average total fees are $15,155, which is $6,069 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Hilton Head Island FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($9,086), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($11,374), PENNYMAC LOAN SERVICES, LLC ($11,426), Gateway First Bank ($12,202) and MOVEMENT MORTGAGE, LLC ($12,375).

    The lowest rate Hilton Head Island FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.27%), VANDERBILT MORTGAGE AND FINANCE, INC. (5.82%), JET HOMELOANS, LLC (5.88%), PENNYMAC LOAN SERVICES, LLC (5.97%) and EAGLE HOME MORTGAGE, LLC (6.10%).

    Hilton Head Island FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    HILTON HEAD ISLAND-BLUFFTON, SC BEAUFORT 2022 $420,680 $538,650 $651,050 $809,150
    HILTON HEAD ISLAND-BLUFFTON, SC JASPER 2022 $420,680 $538,650 $651,050 $809,150
    HILTON HEAD ISLAND-BLUFFTON, SC BEAUFORT 2023 $485,300 $621,250 $750,950 $933,300
    HILTON HEAD ISLAND-BLUFFTON, SC JASPER 2023 $485,300 $621,250 $750,950 $933,300

    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).