Huntsville FHA Loan Rates, Closing Costs & Stats

HUNTSVILLE, AL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 149 lenders originated 1,855 FHA loans during 2023. The total origination value was $510,485,000, with an average FHA loan value of $275,194.

    Huntsville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Huntsville averaged 6.44% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Huntsville's average FHA mortgage closing costs are $8,187.

    The average rate for the prior week (2024-04-12) was 6.23% and one month ago for the week of 2024-03-15, the average rate was 6.1%.

    The average rate one year ago was 6.22%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.32%.

    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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Huntsville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 172 6.23% $10,934
    UNITED WHOLESALE MORTGAGE, LLC 151 6.23% $11,960
    EAGLE HOME MORTGAGE, LLC 94 5.14% $6,308
    DHI MORTGAGE COMPANY, LTD. 94 5.51% $7,462
    VANDERBILT MORTGAGE AND FINANCE, INC. 62 6.05% $11,563
    FirstBank 60 6.40% $11,756
    MOVEMENT MORTGAGE, LLC 49 6.58% $10,426
    LOANDEPOT.COM, LLC 47 6.26% $13,793
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 40 6.41% $11,537
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 39 6.43% $10,892
    GMFS LLC 38 6.58% $7,715
    FIRST CONTINENTAL MORTGAGE, LTD. 34 6.47% $6,329
    FREEDOM MORTGAGE CORPORATION 32 6.69% $13,358
    GUARANTEED RATE, INC. 29 6.19% $10,693
    BROKER SOLUTIONS, INC. 28 6.53% $11,038
    PENNYMAC LOAN SERVICES, LLC 28 6.35% $12,719
    Trustmark National Bank 27 6.52% $11,161
    DSLD MORTGAGE, LLC 27 5.87% $6,380
    Renasant Bank 26 6.27% $10,471
    Victorian Finance, LLC 25 6.80% $13,807
    Regions Bank 25 6.11% $9,158
    FIRST COMMUNITY MORTGAGE, INC. 23 6.60% $11,397
    Mr. Cooper ( Nationstar Mortgage ) 21 6.01% $13,532
    FBC MORTGAGE, LLC 21 5.24% $8,149
    Carrington Mortgage Services, LLC 20 6.28% $10,488
    CARDINAL FINANCIAL 19 6.66% $14,063
    CROSSCOUNTRY MORTGAGE, LLC 19 6.37% $14,812
    NEWREZ LLC 19 6.45% $12,854
    AMERICAN FINANCIAL NETWORK, INC. 17 7.06% $12,189
    REDSTONE Federal Credit Union 16 6.15% $7,454
    STOCKTON MORTGAGE CORPORATION 16 7.16% $11,345
    CANOPY MORTGAGE, LLC 15 6.27% $21,759
    TJC Mortgage, Inc. 15 6.41% $13,376
    PLANET HOME LENDING, LLC 14 6.58% $8,539
    Flagstar Bank, FSB 14 5.97% $13,294
    Synovus Bank 14 6.31% $10,398
    Century Mortgage Company DBA Century Lending Company 14 6.70% $9,089
    BancorpSouth 13 6.36% $7,212
    AMERISAVE MORTGAGE CORPORATION 13 5.91% $14,314
    Assurance Financial Group, L.L.C. 13 6.60% $11,614
    Hamilton Mortgage Corporation 11 6.84% $10,847
    UNION HOME MORTGAGE CORP. 10 6.45% $15,408
    GUILD MORTGAGE COMPANY 9 6.79% $11,343
    Equity Prime Mortgage LLC 8 6.84% $13,801
    United Community Bank 8 6.13% $10,827
    HOMESTAR FINANCIAL CORPORATION 8 6.44% $9,861
    First Federal Bank, A FSB 7 6.38% $10,212
    Pinnacle Bank 7 6.18% $11,217
    MILEND, INC. 7 6.75% $12,232
    Mortgage Research Center, LLC 7 6.73% $6,328
    Plains Commerce Bank 7 6.38% $12,585
    ISERVE RESIDENTIAL LENDING, LLC 7 7.10% $18,386
    Wells Fargo Bank 6 6.60% $8,713
    MUTUAL OF OMAHA MORTGAGE, INC. 6 6.56% $15,545
    TOWNE MORTGAGE COMPANY 5 6.33% $10,838
    South State Bank 5 5.80% $10,047
    ACOPIA, LLC 5 6.85% $13,227
    Prosperity Home Mortgage, LLC 5 6.30% $10,052
    LAKEVIEW LOAN SERVICING, LLC 5 6.13% $10,480
    LOANPAL, LLC 5 6.45% $9,303
    The Federal Savings Bank 4 6.91% $15,005
    Citizens Bank 4 6.47% $10,096
    Consumer First Mortgage, Inc. 4 6.38% $9,161
    AMERICAN FINANCING CORPORATION 4 6.41% $9,617
    VILLAGE CAPITAL MORTGAGE 4 6.10% $12,731
    FirstTrust Home Loans, Inc. 4 6.16% $10,259
    AmeriHome Mortgage Company, LLC 4 6.03% $8,427
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 7.21% $8,974
    SUN WEST MORTGAGE COMPANY, INC. 3 6.83% $11,032
    S1L, Inc. 3 7.33% $11,117
    AMERICAN FINANCIAL RESOURCES, INC. 3 5.96% $11,468
    BAY EQUITY LLC 3 6.29% $11,098
    Northpointe Bank 3 6.58% $12,880
    SOUTHPOINT FINANCIAL SERVICES, INC. 3 6.88% $16,515
    ZILLOW HOME LOANS, LLC 2 6.31% $8,037
    Alcova Mortgage LLC 2 7.38% $4,179
    Ameris Bank 2 6.63% $15,417
    ARC HOME LLC 2 6.19% $11,846
    Barrington Bank & Trust Company, N.A. 2 6.50% $7,971
    BETTER MORTGAGE CORPORATION 2 6.31% $15,282
    CMG MORTGAGE, INC. 2 6.06% $20,841
    EMM LOANS LLC 2 6.00% $13,119
    First Federal Bank 2 6.00% $11,065
    GENEVA FINANCIAL, LLC 2 6.69% $10,048
    JPMorgan Chase Bank 2 6.56% $7,475
    LIBERTY HOME MORTGAGE CORPORATION 2 7.06% $11,965
    MORTGAGE ACCESS CORP. 2 6.69% $7,550
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.94% $10,568
    NATIONS DIRECT MORTGAGE, LLC 2 6.50% $11,259
    NATIONWIDE MORTGAGE BANKERS, INC. 2 7.50% $17,221
    NBKC BANK 2 5.75% $8,946
    PNC Bank 2 6.19% $7,345
    PREMIA MORTGAGE, LLC 2 6.06% $7,654
    RELIANCE FIRST CAPITAL, LLC 2 6.44% $7,898
    ROYAL UNITED MORTGAGE LLC 2 7.44% $9,806
    SOVEREIGN LENDING GROUP INCORPORATED 2 5.87% $13,191
    TOP FLITE FINANCIAL, INC. 2 7.13% $16,796
    Total Media Management, LLC 2 6.31% $14,308
    Wyndham Capital Mortgage, Inc. 2 7.13% $7,020
    PENTAGON FEDERAL CREDIT UNION 1 5.13% $6,185
    PHH Mortgage Corporation 1 7.13% $7,801
    LEADERONE FINANCIAL CORPORATION 1 6.25% $8,428
    KELLER MORTGAGE, LLC 1 5.50% $7,605
    INB 1 6.13% $7,733
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $10,356
    American Mortgage & Equity Consultants, Inc. 1 6.75% $14,185
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 4.99% $9,387
    Princeton Mortgage Corporation 1 7.25% $11,202
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.25% $6,837
    GUARANTY HOME MORTGAGE CORPORATION 1 6.88% $15,543
    GUARANTEED RATE AFFINITY, LLC 1 6.49% $11,515
    First Horizon Bank 1 6.50% $12,153
    V.I.P. MORTGAGE, INC. 1 6.49% $10,103
    FIRST COLONY MORTGAGE CORPORATION 1 6.63% $10,140
    ROSS MORTGAGE CORPORATION 1 6.63% $3,523
    Watermark Capital, Inc. 1 6.25% $8,041
    DAS Acquisition Company, LLC 1 7.00% $19,541
    SECURITYNATIONAL MORTGAGE COMPANY 1 5.25% $24,107
    SouthPoint Bank 1 7.38% $8,071
    CORNERSTONE HOME LENDING, INC. 1 6.75% $10,755
    CONTOUR MORTGAGE CORPORATION 1 6.25% $12,012
    Waterstone Mortgage Corporation 1 7.00% $11,318
    CHURCHILL MORTGAGE CORPORATION 1 6.50% $12,914
    SUMMIT FUNDING, INC. 1 6.25% $8,598
    Centennial Bank 1 6.63% $8,709
    SWBC MORTGAGE CORPORATION 1 7.75% $8,266
    CBM Mortgage, Inc. 1 6.75% $9,270
    CASTLE & COOKE MORTGAGE, LLC 1 7.13% $18,414
    THE MORTGAGE FIRM, INC. 1 5.50% $8,259
    BECKAM FUNDING CORP. 1 7.25% $7,157
    A&D Mortgage LLC 1 5.75% $15,890
    ABSOLUTE HOME MORTGAGE CORPORATION 1 7.50% $9,208
    Bank of England 1 7.13% $8,519
    Truist 1 6.20% $4,798
    Bank of America 1 6.00% $13,944
    Bank Independent 1 7.00% $7,320
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.50% $15,501
    Arvest Bank 1 7.00% $9,673
    M&T Bank 1 6.75% $10,332
    US MORTGAGE CORPORATION 1 6.25% $13,616
    Nations Lending Corporation 1 7.25% $10,597
    Armed Forces Bank 1 6.25% $8,029
    VAN DYK MORTGAGE CORPORATION 1 7.00% $10,060
    NETWORK CAPITAL FUNDING CORPORATION 1 5.63% $8,185
    MORTGAGE INVESTORS GROUP, INC. 1 6.50% $13,152
    NFM, INC. 1 7.63% $12,491
    MIDLAND MORTGAGE CORPORATION 1 5.75% $8,827
    Paramount Residential Mortgage Group, Inc. 1 7.25% $14,840
    MID AMERICA MORTGAGE, INC. 1 7.88% $0

    The top Huntsville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 172 FHA loans originated. Their average total fees are $10,934, which is $1,026 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Huntsville FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC ($6,308), FIRST CONTINENTAL MORTGAGE, LTD. ($6,329), DSLD MORTGAGE, LLC ($6,380), BancorpSouth ($7,212) and REDSTONE Federal Credit Union ($7,454).

    The lowest rate Huntsville FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.14%), FBC MORTGAGE, LLC (5.24%), DHI MORTGAGE COMPANY, LTD. (5.51%), DSLD MORTGAGE, LLC (5.87%) and AMERISAVE MORTGAGE CORPORATION (5.91%).

    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
    HUNTSVILLE, AL LIMESTONE 2023 $472,030 $604,400 $730,525 $907,900
    HUNTSVILLE, AL MADISON 2023 $472,030 $604,400 $730,525 $907,900

    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 $238,339 (10.1%) $283,711 (8.9%) 0.88 2,205
    2018-02-01 $242,899 (11.5%) $289,755 (10.2%) 0.88 2,076
    2018-03-01 $246,700 (12.4%) $294,249 (10.3%) 0.87 2,064
    2018-04-01 $256,871 (16.8%) $307,046 (13.2%) 0.87 2,045
    2018-05-01 $255,139 (12.0%) $307,923 (11.2%) 0.85 2,051
    2018-06-01 $249,900 (8.9%) $304,004 (9.2%) 0.83 2,137
    2018-07-01 $252,500 (9.8%) $310,309 (10.9%) 0.84 2,121
    2018-08-01 $254,950 (12.5%) $308,938 (10.5%) 0.85 2,127
    2018-09-01 $259,900 (13.1%) $308,434 (9.1%) 0.87 2,117
    2018-10-01 $255,950 (11.3%) $305,787 (8.5%) 0.87 2,087
    2018-11-01 $254,925 (9.1%) $304,388 (6.6%) 0.86 2,038
    2018-12-01 $254,846 (10.8%) $303,854 (7.7%) 0.88 1,943
    2019-01-01 $253,668 (6.4%) $299,407 (5.5%) 0.88 1,782
    2019-02-01 $259,233 (6.7%) $306,001 (5.6%) 0.88 1,706
    2019-03-01 $264,471 (7.2%) $316,510 (7.6%) 0.86 1,638
    2019-04-01 $269,021 (4.7%) $324,829 (5.8%) 0.85 1,551
    2019-05-01 $272,889 (7.0%) $326,124 (5.9%) 0.85 1,559
    2019-06-01 $274,900 (10.0%) $331,244 (9.0%) 0.86 1,565
    2019-07-01 $275,000 (8.9%) $340,522 (9.7%) 0.86 1,532
    2019-08-01 $274,973 (7.9%) $338,308 (9.5%) 0.87 1,513
    2019-09-01 $274,932 (5.8%) $336,341 (9.1%) 0.88 1,477
    2019-10-01 $274,955 (7.4%) $333,720 (9.1%) 0.89 1,459
    2019-11-01 $276,910 (8.6%) $336,407 (10.5%) 0.91 1,359
    2019-12-01 $274,612 (7.8%) $337,668 (11.1%) 0.92 1,265
    2020-01-01 $279,948 (10.4%) $345,806 (15.5%) 0.94 1,181
    2020-02-01 $285,000 (9.9%) $352,208 (15.1%) 0.93 1,077
    2020-03-01 $289,900 (9.6%) $362,655 (14.6%) 0.91 1,034
    2020-04-01 $288,573 (7.3%) $356,918 (9.9%) 0.90 1,105
    2020-05-01 $289,950 (6.3%) $358,728 (10.0%) 0.88 1,260
    2020-06-01 $296,711 (7.9%) $362,301 (9.4%) 0.87 1,161
    2020-07-01 $296,250 (7.7%) $371,433 (9.1%) 0.86 1,109
    2020-08-01 $300,000 (9.1%) $373,491 (10.4%) 0.86 1,067
    2020-09-01 $299,900 (9.1%) $371,188 (10.4%) 0.86 1,029
    2020-10-01 $298,473 (8.6%) $367,364 (10.1%) 0.86 1,017
    2020-11-01 $299,450 (8.1%) $371,342 (10.4%) 0.88 980
    2020-12-01 $304,549 (10.9%) $375,056 (11.1%) 0.91 967
    2021-01-01 $323,700 (15.6%) $385,620 (11.5%) 0.97 834
    2021-02-01 $354,450 (24.4%) $411,622 (16.9%) 1.03 656
    2021-03-01 $356,399 (22.9%) $419,646 (15.7%) 1.01 575
    2021-04-01 $344,650 (19.4%) $414,158 (16.0%) 0.93 518
    2021-05-01 $349,000 (20.4%) $419,008 (16.8%) 0.93 499
    2021-06-01 $317,250 (6.9%) $402,492 (11.1%) 0.84 386
    2021-07-01 $324,075 (9.4%) $414,936 (11.7%) 0.86 457
    2021-08-01 $324,125 (8.0%) $418,106 (12.0%) 0.86 551
    2021-09-01 $342,600 (14.2%) $439,037 (18.3%) 0.91 537
    2021-10-01 $349,900 (17.2%) $446,125 (21.4%) 0.93 535
    2021-11-01 $354,582 (18.4%) $464,088 (25.0%) 0.95 511
    2021-12-01 $367,400 (20.6%) $483,000 (28.8%) 1.00 440
    2022-01-01 $374,494 (15.7%) $489,006 (26.8%) 1.01 358
    2022-02-01 $372,499 (5.1%) $487,141 (18.4%) 0.97 351
    2022-03-01 $413,297 (16.0%) $479,802 (14.3%) 1.03 499
    2022-04-01 $404,950 (17.5%) $478,158 (15.5%) 0.97 592
    2022-05-01 $399,900 (14.6%) $475,164 (13.4%) 0.91 792
    2022-06-01 $406,221 (28.0%) $476,310 (18.3%) 0.90 955
    2022-07-01 $395,000 (21.9%) $464,109 (11.9%) 0.89 1,209
    2022-08-01 $391,958 (20.9%) $469,999 (12.4%) 0.91 1,339
    2022-09-01 $394,950 (15.3%) $470,435 (7.2%) 0.92 1,433
    2022-10-01 $394,900 (12.9%) $469,185 (5.2%) 0.93 1,520
    2022-11-01 $395,900 (11.7%) $467,972 (0.8%) 0.95 1,609
    2022-12-01 $390,073 (6.2%) $463,518 (-4.0%) 0.96 1,570
    2023-01-01 $389,450 (4.0%) $459,969 (-5.9%) 0.96 1,519
    2023-02-01 $391,293 (5.1%) $462,716 (-5.0%) 0.94 1,447
    2023-03-01 $399,450 (-3.4%) $466,379 (-2.8%) 0.94 1,391
    2023-04-01 $412,900 (2.0%) $479,420 (0.3%) 0.96 1,364
    2023-05-01 $424,900 (6.3%) $483,081 (1.7%) 0.96 1,444
    2023-06-01 $424,950 (4.6%) $485,381 (1.9%) 0.95 1,513
    2023-07-01 $406,890 (3.0%) $483,018 (4.1%) 0.92 1,600
    2023-08-01 $399,900 (2.0%) $481,084 (2.4%) 0.92 1,633
    2023-09-01 $390,000 (-1.3%) $469,893 (-0.1%) 0.91 1,705
    2023-10-01 $376,950 (-4.6%) $458,168 (-2.4%) 0.89 1,853
    2023-11-01 $370,108 (-6.5%) $449,017 (-4.1%) 0.88 1,911
    2023-12-01 $365,000 (-6.4%) $445,725 (-3.8%) 0.89 1,885
    2024-01-01 $367,450 (-5.7%) $452,841 (-1.6%) 0.90 1,717
    2024-02-01 $371,450 (-5.1%) $452,913 (-2.1%) 0.89 1,692
    2024-03-01 $378,900 (-5.1%) $455,442 (-2.3%) 0.89 1,697
    Huntsville's median listing price for 2024-03-01 was $378,900, a difference of $-20,550 (-5.1%) versus the prior year and $7,450 versus the prior month.

    Huntsville's median listing price comes in at 89% of the national average.

    Huntsville's average listing price for 2024-03-01 was $455,442, a difference of $-10,937 (-2.3%) versus the prior year and $2,529 versus the prior month.

    For the 2024-03-01 period, Huntsville had 1,697 MLS listings, a difference of 5 listings (0%) versus the prior month and 306 listings (22%) 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 89 days 2,452 sqft
    2018-02-01 89 days 2,474 sqft
    2018-03-01 71 days 2,500 sqft
    2018-04-01 65 days 2,546 sqft
    2018-05-01 59 days 2,536 sqft
    2018-06-01 58 days 2,500 sqft
    2018-07-01 61 days 2,515 sqft
    2018-08-01 65 days 2,508 sqft
    2018-09-01 72 days 2,540 sqft
    2018-10-01 77 days 2,521 sqft
    2018-11-01 81 days 2,515 sqft
    2018-12-01 86 days 2,507 sqft
    2019-01-01 92 days 2,493 sqft
    2019-02-01 84 days 2,500 sqft
    2019-03-01 70 days 2,530 sqft
    2019-04-01 52 days 2,545 sqft
    2019-05-01 46 days 2,528 sqft
    2019-06-01 46 days 2,550 sqft
    2019-07-01 51 days 2,583 sqft
    2019-08-01 51 days 2,562 sqft
    2019-09-01 52 days 2,535 sqft
    2019-10-01 51 days 2,520 sqft
    2019-11-01 57 days 2,515 sqft
    2019-12-01 66 days 2,500 sqft
    2020-01-01 73 days 2,500 sqft
    2020-02-01 59 days 2,500 sqft
    2020-03-01 39 days 2,508 sqft
    2020-04-01 39 days 2,491 sqft
    2020-05-01 37 days 2,500 sqft
    2020-06-01 43 days 2,503 sqft
    2020-07-01 45 days 2,500 sqft
    2020-08-01 43 days 2,501 sqft
    2020-09-01 39 days 2,418 sqft
    2020-10-01 40 days 2,401 sqft
    2020-11-01 42 days 2,394 sqft
    2020-12-01 46 days 2,396 sqft
    2021-01-01 50 days 2,448 sqft
    2021-02-01 48 days 2,512 sqft
    2021-03-01 33 days 2,405 sqft
    2021-04-01 25 days 2,423 sqft
    2021-05-01 17 days 2,367 sqft
    2021-06-01 8 days 2,344 sqft
    2021-07-01 9 days 2,304 sqft
    2021-08-01 14 days 2,337 sqft
    2021-09-01 18 days 2,388 sqft
    2021-10-01 18 days 2,377 sqft
    2021-11-01 18 days 2,385 sqft
    2021-12-01 27 days 2,424 sqft
    2022-01-01 30 days 2,448 sqft
    2022-02-01 12 days 2,399 sqft
    2022-03-01 10 days 2,458 sqft
    2022-04-01 14 days 2,449 sqft
    2022-05-01 19 days 2,374 sqft
    2022-06-01 21 days 2,373 sqft
    2022-07-01 29 days 2,352 sqft
    2022-08-01 33 days 2,354 sqft
    2022-09-01 40 days 2,346 sqft
    2022-10-01 42 days 2,357 sqft
    2022-11-01 50 days 2,379 sqft
    2022-12-01 59 days 2,368 sqft
    2023-01-01 67 days 2,352 sqft
    2023-02-01 65 days 2,361 sqft
    2023-03-01 57 days 2,366 sqft
    2023-04-01 52 days 2,376 sqft
    2023-05-01 48 days 2,406 sqft
    2023-06-01 50 days 2,432 sqft
    2023-07-01 50 days 2,383 sqft
    2023-08-01 51 days 2,375 sqft
    2023-09-01 53 days 2,351 sqft
    2023-10-01 52 days 2,285 sqft
    2023-11-01 57 days 2,236 sqft
    2023-12-01 68 days 2,211 sqft
    2024-01-01 77 days 2,215 sqft
    2024-02-01 70 days 2,235 sqft
    2024-03-01 51 days 2,265 sqft
    Huntsville's median listing age (time on market) for 2024-03-01 was 51 days. This is -11% shorter than the same period one year ago.

    Huntsville's median square footage for active listings during the 2024-03-01 period was 2,265 sqft. One year prior, the average listing was 2,366 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).