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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.