Huntsville FHA Loans

HUNTSVILLE, AL

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.

Huntsville's 130 lenders originated 2,314 FHA loans during 2021. The total origination value was $480,450,000, with an average FHA loan value of $207,627.

Huntsville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Huntsville averaged 5.24% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

The average rate for the prior week (2022-05-13) was 5.34% and one month ago for the week of 2022-04-15, the average rate was 4.83%.

The average rate one year ago was 2.91%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.17%.

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

Huntsville FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Huntsville level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 260 2.71% $5,769
LOANDEPOT.COM, LLC 166 3.10% $8,607
Hometown Lenders, Inc. 135 3.16% $8,378
DHI MORTGAGE COMPANY, LTD. 81 2.83% $6,741
FREEDOM MORTGAGE CORPORATION 77 2.87% $4,238
FirstBank 73 3.02% $7,650
UNITED WHOLESALE MORTGAGE, LLC 63 2.70% $7,961
Mr. Cooper ( Nationstar Mortgage ) 60 3.32% $4,588
PENNYMAC LOAN SERVICES, LLC 54 2.90% $4,897
CERTAINTY HOME LOANS, LLC 52 2.99% $8,775
LAKEVIEW LOAN SERVICING, LLC 43 3.05% $4,409
DSLD MORTGAGE, LLC 40 2.74% $5,596
MOVEMENT MORTGAGE, LLC 40 3.09% $6,717
CALIBER HOME LOANS, INC. 37 2.84% $6,169
VANDERBILT MORTGAGE AND FINANCE, INC. 33 3.19% $8,018
VILLAGE CAPITAL & INVESTMENT LLC 29 3.00% $2,212
Synovus Bank 28 2.87% $7,883
TJC Mortgage, Inc. 27 3.20% $7,568
HOME POINT FINANCIAL CORPORATION 26 2.83% $6,385
Progress Bank and Trust 26 2.47% $7,039
BROKER SOLUTIONS, INC. 25 3.50% $7,624
First Federal Bank, A FSB 24 2.93% $5,777
Trustmark National Bank 23 2.69% $7,797
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 23 3.13% $6,430
First Option Mortgage, LLC 22 3.72% $9,090
Flagstar Bank, FSB 18 2.82% $7,201
GMFS LLC 17 3.07% $6,355
BancorpSouth Bank 16 2.99% $6,453
NEWREZ LLC 16 2.85% $5,028
SOUTHWEST FUNDING, LP 16 3.39% $9,455
FIRST COMMUNITY MORTGAGE, INC. 15 2.76% $8,119
Hamilton Mortgage Corporation 15 2.55% $6,623
AMERISAVE MORTGAGE CORPORATION 15 2.97% $8,231
Assurance Financial Group, L.L.C. 14 3.13% $7,438
HOMEBRIDGE FINANCIAL SERVICES, INC. 14 2.83% $5,320
ISERVE RESIDENTIAL LENDING, LLC 14 3.27% $12,689
Regions Bank 14 2.88% $7,262
PLANET HOME LENDING, LLC 14 2.94% $7,029
FBC MORTGAGE, LLC 14 3.06% $8,427
INTERLINC MORTGAGE SERVICES, LLC 11 3.11% $7,546
ACOPIA, LLC 11 3.16% $8,193
Carrington Mortgage Services, LLC 10 3.24% $7,682
AmeriHome Mortgage Company, LLC 10 2.91% $4,026
PRIMELENDING, A PLAINSCAPITAL COMPANY 9 3.15% $8,153
South State Bank 9 2.99% $7,127
NFM, INC. 9 3.39% $8,675
The Federal Savings Bank 9 2.88% $8,522
First Horizon Bank 9 2.79% $7,665
Renasant Bank 9 3.01% $7,736
First Guaranty Mortgage Corporation 8 2.81% $5,058
Magnolia Bank 8 2.84% $6,375
BAYSHORE MORTGAGE FUNDING, LLC 7 3.57% $7,396
FINANCE OF AMERICA MORTGAGE LLC 7 3.07% $8,261
Nations Lending Corporation 6 3.23% $12,318
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 6 2.98% $8,783
GENEVA FINANCIAL, LLC 6 3.63% $9,242
RELIANCE FIRST CAPITAL, LLC 6 2.98% $10,763
CIS Financial Services, Inc. 6 3.40% $7,531
Bank of England 5 3.23% $8,982
PREMIA MORTGAGE, LLC 5 2.83% $6,175
CMG MORTGAGE, INC. 5 2.88% $8,610
SUMMIT FUNDING, INC. 5 3.90% $8,312
NATIONS DIRECT MORTGAGE, LLC 4 3.25% $8,531
FirstTrust Home Loans, Inc. 4 2.97% $7,440
AMERICAN FINANCIAL NETWORK, INC. 4 4.09% $12,040
Ameris Bank 4 3.19% $7,116
EMBRACE HOME LOANS, INC. 4 3.06% $7,700
KELLER MORTGAGE, LLC 4 2.72% $6,544
Alcova Mortgage LLC 3 2.75% $5,381
MID AMERICA MORTGAGE, INC. 3 2.63% $1,717
MUTUAL OF OMAHA MORTGAGE, INC. 3 3.33% $8,863
Mortgage Research Center, LLC 3 2.71% $6,439
MORTGAGE INVESTORS GROUP, INC. 3 3.08% $7,319
BBVA USA 3 2.71% $3,307
CROSSCOUNTRY MORTGAGE, LLC 3 2.75% $9,895
LEADERONE FINANCIAL CORPORATION 2 3.25% $7,903
GSF Mortgage Corporation 2 3.13% $10,526
GUILD MORTGAGE COMPANY 2 3.00% $5,809
EVERETT FINANCIAL, INC. 2 3.13% $6,181
HUNT MORTGAGE CORPORATION 2 2.94% $8,433
InterContinental Capital Group, Inc 2 2.69% $6,304
Colten Mortgage, LLC 2 3.75% $8,029
NATIONWIDE MORTGAGE BANKERS, INC. 2 3.44% $5,834
Citizens Bank 2 2.94% $5,699
Northpointe Bank 2 3.19% $6,225
OCEANSIDE MORTGAGE COMPANY 2 2.50% $3,629
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.81% $7,345
Cadence Bank, N.A. 2 2.56% $7,365
SouthPoint Bank 2 3.00% $7,448
SOUTHPOINT FINANCIAL SERVICES, INC. 2 2.88% $9,428
Bank Independent 2 2.75% $7,810
SOVEREIGN LENDING GROUP INCORPORATED 2 3.06% $6,273
SUCCESS MORTGAGE PARTNERS, INC. 2 3.25% $7,415
UNION HOME MORTGAGE CORP. 2 3.63% $5,243
Wells Fargo Bank 2 3.13% $6,856
PNC Bank 1 2.63% $5,907
DELMAR FINANCIAL COMPANY 1 2.50% $7,288
Truist Bank 1 3.13% $6,738
JPMorgan Chase Bank 1 2.75% $9,068
AMERICAN FINANCIAL RESOURCES, INC. 1 3.25% $4,036
Prosperity Home Mortgage, LLC 1 3.00% $9,139
Equity Prime Mortgage LLC 1 3.00% $8,036
Barrington Bank & Trust Company, N.A. 1 3.25% $8,303
HOMESTAR FINANCIAL CORPORATION 1 3.38% $5,862
HOMESIDE FINANCIAL, LLC 1 3.38% $7,192
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 3.50% $6,755
ROYAL UNITED MORTGAGE LLC 1 3.13% $10,087
Waterstone Mortgage Corporation 1 3.88% $7,162
UNITED SECURITY FINANCIAL CORP 1 2.38% $5,967
GUARANTY MORTGAGE SERVICES, L.L.C. 1 3.25% $12,214
A Mortgage Boutique, LLC 1 3.00% $5,288
AMCAP MORTGAGE, LTD. 1 2.63% $6,144
STOCKTON MORTGAGE CORPORATION 1 3.13% $9,751
GUARANTEED RATE, INC. 1 2.88% $4,879
First Federal Bank 1 2.75% $8,064
Gateway First Bank 1 3.00% $7,311
The Central Trust Bank 1 2.50% $6,689
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 2.75% $10,184
MICHIGAN MUTUAL, INC. 1 3.00% $5,819
COMMUNITY MORTGAGE CORPORATION 1 2.88% $5,230
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.13% $6,580
AMERICAN FINANCING CORPORATION 1 2.63% $8,953
LENDUS, LLC 1 2.75% $9,571
Total Media Management, LLC 1 2.75% $8,369
TOWNE MORTGAGE COMPANY 1 3.50% $6,988
Paramount Residential Mortgage Group, Inc. 1 3.25% $4,776
CELEBRITY HOME LOANS, LLC 1 3.25% $9,702
Peoples Bank 1 3.00% $7,272
Pinnacle Bank 1 2.63% $7,767
CB&S Bank, Inc. 1 2.25% $6,284

The top Huntsville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 260 FHA loans originated. Their average total fees are $5,769, which is $2,838 lower than the next largest lender, LOANDEPOT.COM, LLC.

The lowest fee Huntsville FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,212), AmeriHome Mortgage Company, LLC ($4,026), FREEDOM MORTGAGE CORPORATION ($4,238), LAKEVIEW LOAN SERVICING, LLC ($4,409) and Mr. Cooper ( Nationstar Mortgage ) ($4,588).

The lowest rate Huntsville FHA lenders (with over 10 loans originated) are Progress Bank and Trust (2.47%), Hamilton Mortgage Corporation (2.55%), Trustmark National Bank (2.69%), UNITED WHOLESALE MORTGAGE, LLC (2.70%) and QUICKEN LOANS, LLC (2.71%).

Huntsville FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
HUNTSVILLE, AL LIMESTONE 2022 $420,680 $538,650 $651,050 $809,150
HUNTSVILLE, AL MADISON 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Huntsville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $237,000 (10.2%) $282,529 (9.0%) 0.87 2,227
2018-02-01 $241,204 (11.3%) $288,409 (10.1%) 0.87 2,090
2018-03-01 $248,500 (13.5%) $293,152 (10.3%) 0.86 2,067
2018-04-01 $256,450 (16.6%) $305,811 (13.2%) 0.86 2,051
2018-05-01 $256,000 (12.6%) $307,480 (11.2%) 0.85 2,062
2018-06-01 $249,900 (9.2%) $303,334 (9.4%) 0.83 2,147
2018-07-01 $250,420 (8.9%) $308,223 (10.5%) 0.84 2,133
2018-08-01 $254,400 (12.5%) $308,065 (10.5%) 0.85 2,130
2018-09-01 $257,745 (12.1%) $307,100 (9.1%) 0.86 2,127
2018-10-01 $254,896 (10.9%) $305,434 (8.9%) 0.85 2,089
2018-11-01 $254,203 (10.5%) $303,818 (7.1%) 0.85 2,040
2018-12-01 $254,687 (10.7%) $303,318 (8.0%) 0.87 1,951
2019-01-01 $252,450 (6.5%) $298,893 (5.8%) 0.87 1,788
2019-02-01 $257,818 (6.9%) $305,667 (6.0%) 0.86 1,710
2019-03-01 $264,186 (6.3%) $315,360 (7.6%) 0.86 1,643
2019-04-01 $268,231 (4.6%) $322,962 (5.6%) 0.84 1,554
2019-05-01 $270,258 (5.6%) $323,712 (5.3%) 0.83 1,548
2019-06-01 $273,900 (9.6%) $328,818 (8.4%) 0.84 1,563
2019-07-01 $274,803 (9.7%) $335,982 (9.0%) 0.85 1,533
2019-08-01 $274,832 (8.0%) $335,247 (8.8%) 0.86 1,468
2019-09-01 $274,929 (6.7%) $335,163 (9.1%) 0.87 1,394
2019-10-01 $274,944 (7.9%) $331,611 (8.6%) 0.88 1,440
2019-11-01 $275,000 (8.2%) $333,229 (9.7%) 0.89 1,336
2019-12-01 $274,118 (7.6%) $335,056 (10.5%) 0.91 1,250
2020-01-01 $279,500 (10.7%) $343,367 (14.9%) 0.93 1,148
2020-02-01 $284,900 (10.5%) $348,742 (14.1%) 0.92 1,053
2020-03-01 $289,900 (9.7%) $359,576 (14.0%) 0.91 1,002
2020-04-01 $287,810 (7.3%) $353,874 (9.6%) 0.90 1,086
2020-05-01 $289,900 (7.3%) $354,778 (9.6%) 0.88 1,224
2020-06-01 $295,450 (7.9%) $360,109 (9.5%) 0.86 1,118
2020-07-01 $296,250 (7.8%) $370,799 (10.4%) 0.85 1,080
2020-08-01 $300,000 (9.2%) $374,088 (11.6%) 0.86 1,050
2020-09-01 $299,900 (9.1%) $369,794 (10.3%) 0.86 1,004
2020-10-01 $297,400 (8.2%) $365,832 (10.3%) 0.85 996
2020-11-01 $299,450 (8.9%) $370,817 (11.3%) 0.86 956
2020-12-01 $304,033 (10.9%) $374,343 (11.7%) 0.89 952
2021-01-01 $322,861 (15.5%) $383,617 (11.7%) 0.95 810
2021-02-01 $350,565 (23.1%) $408,964 (17.3%) 1.01 642
2021-03-01 $352,350 (21.5%) $416,337 (15.8%) 0.99 549
2021-04-01 $337,450 (17.3%) $414,751 (17.2%) 0.91 494
2021-05-01 $345,000 (19.0%) $418,951 (18.1%) 0.91 468
2021-06-01 $316,477 (7.1%) $400,786 (11.3%) 0.82 355
2021-07-01 $320,950 (8.3%) $410,343 (10.7%) 0.83 406
2021-08-01 $324,125 (8.0%) $417,167 (11.5%) 0.85 523
2021-09-01 $341,950 (14.0%) $437,393 (18.3%) 0.90 514
2021-10-01 $345,000 (16.0%) $441,879 (20.8%) 0.91 525
2021-11-01 $351,250 (17.3%) $459,654 (24.0%) 0.93 489
2021-12-01 $362,900 (19.4%) $477,200 (27.5%) 0.97 441
2022-01-01 $374,494 (16.0%) $487,198 (27.0%) 1.00 349
2022-02-01 $369,950 (5.5%) $482,212 (17.9%) 0.94 348
2022-03-01 $411,950 (16.9%) $478,914 (15.0%) 1.02 475
2022-04-01 $400,000 (18.5%) $474,698 (14.5%) 0.94 567
Huntsville's median listing price for 2022-04-01 was $400,000, a difference of $62,550 (18.5%) versus the prior year and $-11,950 versus the prior month.

Huntsville's median listing price comes in at 94% of the national average.

Huntsville's average listing price for 2022-04-01 was $474,698, a difference of $59,947 (14.5%) versus the prior year and $-4,216 versus the prior month.

For the 2022-04-01 period, Huntsville had 567 MLS listings, a difference of 92 listings (19%) versus the prior month and 73 listings (15%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Huntsville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 96 days 2,433 sqft
2018-02-01 96 days 2,464 sqft
2018-03-01 81 days 2,497 sqft
2018-04-01 72 days 2,544 sqft
2018-05-01 66 days 2,536 sqft
2018-06-01 64 days 2,500 sqft
2018-07-01 66 days 2,503 sqft
2018-08-01 72 days 2,506 sqft
2018-09-01 79 days 2,533 sqft
2018-10-01 85 days 2,518 sqft
2018-11-01 90 days 2,506 sqft
2018-12-01 95 days 2,505 sqft
2019-01-01 105 days 2,485 sqft
2019-02-01 99 days 2,490 sqft
2019-03-01 101 days 2,521 sqft
2019-04-01 61 days 2,540 sqft
2019-05-01 53 days 2,529 sqft
2019-06-01 51 days 2,543 sqft
2019-07-01 57 days 2,577 sqft
2019-08-01 60 days 2,557 sqft
2019-09-01 59 days 2,533 sqft
2019-10-01 58 days 2,524 sqft
2019-11-01 63 days 2,513 sqft
2019-12-01 71 days 2,500 sqft
2020-01-01 79 days 2,504 sqft
2020-02-01 70 days 2,488 sqft
2020-03-01 48 days 2,509 sqft
2020-04-01 43 days 2,490 sqft
2020-05-01 42 days 2,497 sqft
2020-06-01 45 days 2,500 sqft
2020-07-01 52 days 2,500 sqft
2020-08-01 49 days 2,503 sqft
2020-09-01 45 days 2,432 sqft
2020-10-01 45 days 2,400 sqft
2020-11-01 46 days 2,420 sqft
2020-12-01 51 days 2,395 sqft
2021-01-01 55 days 2,407 sqft
2021-02-01 58 days 2,517 sqft
2021-03-01 42 days 2,413 sqft
2021-04-01 33 days 2,414 sqft
2021-05-01 22 days 2,390 sqft
2021-06-01 11 days 2,320 sqft
2021-07-01 12 days 2,325 sqft
2021-08-01 16 days 2,339 sqft
2021-09-01 22 days 2,379 sqft
2021-10-01 22 days 2,349 sqft
2021-11-01 21 days 2,381 sqft
2021-12-01 30 days 2,401 sqft
2022-01-01 34 days 2,460 sqft
2022-02-01 15 days 2,400 sqft
2022-03-01 12 days 2,464 sqft
2022-04-01 16 days 2,458 sqft
Huntsville's median listing age (time on market) for 2022-04-01 was 16 days. This is -51% shorter than the same period one year ago.

Huntsville's median square footage for active listings during the 2022-04-01 period was 2,458 sqft. One year prior, the average listing was 2,414 sqft.

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).