Hilton Head Island FHA Loan Rates, Closing Costs & Stats
HILTON HEAD ISLAND-BLUFFTON, SC
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).