Jackson FHA Loan Rates, Closing Costs & Stats
JACKSON, MS
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.
Jackson's 105 lenders originated 1,863 FHA loans during 2023. The total origination value was $417,945,000, with an average FHA loan value of $224,340.
Jackson FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Jackson
averaged
0.02%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Jackson's average FHA mortgage closing costs are $6,709.
The average rate for the prior week (2024-11-22) was
6.61% and
one month ago for the week of 2024-10-25, the
average rate was 6.39%.
The average rate one year ago was 7.18%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.15%.
Jackson 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 Jackson level.
The top Jackson FHA lender as defined by loan originations is Trustmark National Bank, with
283 FHA loans originated. Their average total fees are
$7,490, which is $1,197
lower than the next largest lender,
BancorpSouth.
The lowest fee Jackson FHA lenders (with over 10 loans originated) are
BankPlus ($6,686), SWBC MORTGAGE CORPORATION ($7,134), Trustmark National Bank ($7,490), Renasant Bank ($7,838) and Origin Bank ($8,111).
The lowest rate Jackson FHA lenders (with over 10 loans originated) are
AMERISAVE MORTGAGE CORPORATION (5.80%), KEESLER (5.95%), Mr. Cooper ( Nationstar Mortgage ) (6.17%), QUICKEN LOANS, LLC (6.21%) and Flagstar Bank, FSB (6.23%).
Jackson FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
JACKSON, MS | COPIAH | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JACKSON, MS | HINDS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JACKSON, MS | HOLMES | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JACKSON, MS | MADISON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JACKSON, MS | RANKIN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JACKSON, MS | SIMPSON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JACKSON, MS | YAZOO | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
JACKSON, MS | COPIAH | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
JACKSON, MS | HINDS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
JACKSON, MS | HOLMES | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
JACKSON, MS | MADISON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
JACKSON, MS | RANKIN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
JACKSON, MS | SIMPSON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
JACKSON, MS | YAZOO | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Jackson (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 | $230,950 (7.5%) | $293,197 (2.4%) | 0.86 | 2,456 |
2018-02-01 | $229,975 (4.3%) | $290,380 (0.2%) | 0.83 | 2,550 |
2018-03-01 | $235,000 (3.6%) | $295,824 (0.7%) | 0.82 | 2,687 |
2018-04-01 | $239,250 (4.5%) | $301,497 (2.6%) | 0.81 | 2,844 |
2018-05-01 | $252,925 (10.1%) | $326,327 (11.9%) | 0.84 | 2,312 |
2018-06-01 | $259,000 (12.6%) | $329,107 (12.2%) | 0.86 | 2,332 |
2018-07-01 | $252,500 (9.8%) | $328,095 (12.0%) | 0.84 | 2,319 |
2018-08-01 | $249,700 (6.6%) | $321,979 (9.6%) | 0.84 | 2,336 |
2018-09-01 | $244,900 (4.8%) | $316,100 (6.8%) | 0.82 | 2,336 |
2018-10-01 | $238,325 (2.6%) | $304,020 (2.9%) | 0.81 | 2,340 |
2018-11-01 | $238,063 (3.6%) | $307,286 (4.8%) | 0.81 | 2,254 |
2018-12-01 | $235,000 (0.3%) | $306,020 (3.3%) | 0.81 | 2,178 |
2019-01-01 | $234,950 (1.7%) | $306,046 (4.4%) | 0.81 | 2,031 |
2019-02-01 | $239,925 (4.3%) | $315,425 (8.6%) | 0.81 | 2,006 |
2019-03-01 | $246,407 (4.9%) | $320,941 (8.5%) | 0.81 | 2,033 |
2019-04-01 | $255,475 (6.8%) | $325,745 (8.0%) | 0.81 | 2,085 |
2019-05-01 | $256,250 (1.3%) | $327,379 (0.3%) | 0.80 | 2,103 |
2019-06-01 | $255,250 (-1.5%) | $329,593 (0.2%) | 0.80 | 2,111 |
2019-07-01 | $252,350 (-0.1%) | $324,965 (-1.0%) | 0.79 | 2,136 |
2019-08-01 | $251,273 (0.6%) | $324,730 (0.9%) | 0.80 | 2,100 |
2019-09-01 | $250,557 (2.3%) | $324,344 (2.6%) | 0.80 | 2,062 |
2019-10-01 | $249,750 (4.8%) | $322,970 (6.2%) | 0.81 | 2,033 |
2019-11-01 | $248,900 (4.6%) | $317,423 (3.3%) | 0.82 | 2,030 |
2019-12-01 | $249,900 (6.3%) | $315,581 (3.1%) | 0.83 | 1,954 |
2020-01-01 | $252,500 (7.5%) | $318,751 (4.2%) | 0.84 | 1,777 |
2020-02-01 | $252,850 (5.4%) | $314,422 (-0.3%) | 0.83 | 1,760 |
2020-03-01 | $259,950 (5.5%) | $321,087 (0.1%) | 0.81 | 1,767 |
2020-04-01 | $263,700 (3.2%) | $318,347 (-2.3%) | 0.83 | 1,715 |
2020-05-01 | $269,900 (5.3%) | $332,012 (1.4%) | 0.82 | 1,605 |
2020-06-01 | $283,500 (11.1%) | $346,806 (5.2%) | 0.84 | 1,483 |
2020-07-01 | $298,300 (18.2%) | $354,131 (9.0%) | 0.86 | 1,357 |
2020-08-01 | $301,900 (20.2%) | $362,077 (11.5%) | 0.87 | 1,268 |
2020-09-01 | $303,500 (21.1%) | $381,771 (17.7%) | 0.87 | 1,155 |
2020-10-01 | $294,000 (17.7%) | $378,092 (17.1%) | 0.84 | 1,089 |
2020-11-01 | $285,000 (14.5%) | $378,551 (19.3%) | 0.83 | 1,028 |
2020-12-01 | $277,200 (10.9%) | $370,118 (17.3%) | 0.82 | 924 |
2021-01-01 | $275,000 (8.9%) | $369,056 (15.8%) | 0.82 | 831 |
2021-02-01 | $278,925 (10.3%) | $369,733 (17.6%) | 0.81 | 785 |
2021-03-01 | $274,825 (5.7%) | $364,027 (13.4%) | 0.78 | 709 |
2021-04-01 | $277,225 (5.1%) | $387,251 (21.6%) | 0.75 | 597 |
2021-05-01 | $279,900 (3.7%) | $394,713 (18.9%) | 0.74 | 591 |
2021-06-01 | $269,425 (-5.0%) | $386,790 (11.5%) | 0.71 | 640 |
2021-07-01 | $275,000 (-7.8%) | $379,297 (7.1%) | 0.73 | 708 |
2021-08-01 | $272,000 (-9.9%) | $369,804 (2.1%) | 0.73 | 755 |
2021-09-01 | $273,725 (-9.8%) | $375,416 (-1.7%) | 0.73 | 728 |
2021-10-01 | $299,000 (1.7%) | $402,227 (6.4%) | 0.80 | 712 |
2021-11-01 | $269,925 (-5.3%) | $386,607 (2.1%) | 0.72 | 691 |
2021-12-01 | $265,500 (-4.2%) | $378,482 (2.3%) | 0.72 | 639 |
2022-01-01 | $271,500 (-1.3%) | $382,040 (3.5%) | 0.73 | 562 |
2022-02-01 | $299,800 (7.5%) | $385,599 (4.3%) | 0.78 | 537 |
2022-03-01 | $312,450 (13.7%) | $401,443 (10.3%) | 0.78 | 587 |
2022-04-01 | $307,450 (10.9%) | $409,000 (5.6%) | 0.73 | 623 |
2022-05-01 | $284,825 (1.8%) | $388,155 (-1.7%) | 0.65 | 716 |
2022-06-01 | $284,875 (5.7%) | $375,351 (-3.0%) | 0.63 | 791 |
2022-07-01 | $310,000 (12.7%) | $389,374 (2.7%) | 0.70 | 904 |
2022-08-01 | $300,025 (10.3%) | $379,382 (2.6%) | 0.69 | 966 |
2022-09-01 | $297,875 (8.8%) | $367,443 (-2.1%) | 0.70 | 1,018 |
2022-10-01 | $299,000 (0.0%) | $356,427 (-11.4%) | 0.70 | 1,107 |
2022-11-01 | $305,957 (13.4%) | $357,104 (-7.6%) | 0.74 | 1,127 |
2022-12-01 | $325,000 (22.4%) | $366,806 (-3.1%) | 0.80 | 1,114 |
2023-01-01 | $320,000 (17.9%) | $352,788 (-7.7%) | 0.79 | 1,046 |
2023-02-01 | $324,850 (8.4%) | $360,172 (-6.6%) | 0.78 | 1,054 |
2023-03-01 | $299,450 (-4.2%) | $349,331 (-13.0%) | 0.71 | 1,141 |
2023-04-01 | $284,889 (-7.3%) | $342,584 (-16.2%) | 0.66 | 1,135 |
2023-05-01 | $289,900 (1.8%) | $350,752 (-9.6%) | 0.66 | 1,100 |
2023-06-01 | $289,625 (1.7%) | $352,781 (-6.0%) | 0.65 | 1,162 |
2023-07-01 | $284,325 (-8.3%) | $338,738 (-13.0%) | 0.65 | 1,225 |
2023-08-01 | $287,000 (-4.3%) | $341,419 (-10.0%) | 0.66 | 1,313 |
2023-09-01 | $288,500 (-3.2%) | $344,536 (-6.2%) | 0.67 | 1,380 |
2023-10-01 | $284,224 (-4.9%) | $341,919 (-4.1%) | 0.67 | 1,445 |
2023-11-01 | $284,225 (-7.1%) | $345,195 (-3.3%) | 0.68 | 1,508 |
2023-12-01 | $285,000 (-12.3%) | $349,581 (-4.7%) | 0.70 | 1,471 |
2024-01-01 | $292,425 (-8.6%) | $350,291 (-0.7%) | 0.71 | 1,361 |
2024-02-01 | $297,175 (-8.5%) | $349,967 (-2.8%) | 0.72 | 1,304 |
2024-03-01 | $299,999 (0.2%) | $358,446 (2.6%) | 0.71 | 1,365 |
2024-04-01 | $307,500 (7.9%) | $364,734 (6.5%) | 0.72 | 1,429 |
2024-05-01 | $320,738 (10.6%) | $379,652 (8.2%) | 0.72 | 1,475 |
2024-06-01 | $320,000 (10.5%) | $381,651 (8.2%) | 0.72 | 1,534 |
2024-07-01 | $319,499 (12.4%) | $382,898 (13.0%) | 0.73 | 1,600 |
2024-08-01 | $311,500 (8.5%) | $368,765 (8.0%) | 0.72 | 1,656 |
2024-09-01 | $312,500 (8.3%) | $365,805 (6.2%) | 0.74 | 1,735 |
2024-10-01 | $308,225 (8.4%) | $361,098 (5.6%) | 0.73 | 1,795 |
Jackson's median listing price comes in at 73% of the national average.
Jackson's average listing price for 2024-10-01 was $361,098, a difference of $19,179 (5.6%) versus the prior year and $-4,707 versus the prior month.
For the 2024-10-01 period, Jackson had 1,795 MLS listings, a difference of 60 listings (3%) versus the prior month and 350 listings (24%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Jackson (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 93 days | 2,183 sqft |
2018-02-01 | 91 days | 2,153 sqft |
2018-03-01 | 74 days | 2,198 sqft |
2018-04-01 | 64 days | 2,207 sqft |
2018-05-01 | 65 days | 2,364 sqft |
2018-06-01 | 67 days | 2,392 sqft |
2018-07-01 | 70 days | 2,379 sqft |
2018-08-01 | 72 days | 2,339 sqft |
2018-09-01 | 77 days | 2,292 sqft |
2018-10-01 | 82 days | 2,225 sqft |
2018-11-01 | 90 days | 2,240 sqft |
2018-12-01 | 95 days | 2,228 sqft |
2019-01-01 | 102 days | 2,212 sqft |
2019-02-01 | 100 days | 2,262 sqft |
2019-03-01 | 82 days | 2,296 sqft |
2019-04-01 | 64 days | 2,331 sqft |
2019-05-01 | 63 days | 2,338 sqft |
2019-06-01 | 71 days | 2,341 sqft |
2019-07-01 | 74 days | 2,283 sqft |
2019-08-01 | 79 days | 2,272 sqft |
2019-09-01 | 79 days | 2,279 sqft |
2019-10-01 | 81 days | 2,282 sqft |
2019-11-01 | 83 days | 2,267 sqft |
2019-12-01 | 90 days | 2,257 sqft |
2020-01-01 | 97 days | 2,257 sqft |
2020-02-01 | 94 days | 2,254 sqft |
2020-03-01 | 72 days | 2,307 sqft |
2020-04-01 | 74 days | 2,301 sqft |
2020-05-01 | 78 days | 2,342 sqft |
2020-06-01 | 75 days | 2,401 sqft |
2020-07-01 | 65 days | 2,429 sqft |
2020-08-01 | 64 days | 2,426 sqft |
2020-09-01 | 63 days | 2,421 sqft |
2020-10-01 | 61 days | 2,351 sqft |
2020-11-01 | 61 days | 2,347 sqft |
2020-12-01 | 71 days | 2,272 sqft |
2021-01-01 | 82 days | 2,287 sqft |
2021-02-01 | 70 days | 2,301 sqft |
2021-03-01 | 58 days | 2,311 sqft |
2021-04-01 | 52 days | 2,443 sqft |
2021-05-01 | 37 days | 2,368 sqft |
2021-06-01 | 37 days | 2,227 sqft |
2021-07-01 | 43 days | 2,326 sqft |
2021-08-01 | 41 days | 2,246 sqft |
2021-09-01 | 47 days | 2,320 sqft |
2021-10-01 | 52 days | 2,355 sqft |
2021-11-01 | 22 days | 2,240 sqft |
2021-12-01 | 50 days | 2,186 sqft |
2022-01-01 | 57 days | 2,179 sqft |
2022-02-01 | 44 days | 2,195 sqft |
2022-03-01 | 32 days | 2,135 sqft |
2022-04-01 | 35 days | 2,216 sqft |
2022-05-01 | 37 days | 2,146 sqft |
2022-06-01 | 40 days | 2,107 sqft |
2022-07-01 | 43 days | 2,200 sqft |
2022-08-01 | 50 days | 2,129 sqft |
2022-09-01 | 56 days | 2,126 sqft |
2022-10-01 | 56 days | 2,114 sqft |
2022-11-01 | 60 days | 2,128 sqft |
2022-12-01 | 71 days | 2,150 sqft |
2023-01-01 | 78 days | 2,115 sqft |
2023-02-01 | 74 days | 2,107 sqft |
2023-03-01 | 54 days | 2,063 sqft |
2023-04-01 | 53 days | 2,000 sqft |
2023-05-01 | 59 days | 2,002 sqft |
2023-06-01 | 60 days | 1,998 sqft |
2023-07-01 | 57 days | 1,974 sqft |
2023-08-01 | 56 days | 2,006 sqft |
2023-09-01 | 54 days | 2,015 sqft |
2023-10-01 | 58 days | 1,998 sqft |
2023-11-01 | 65 days | 2,009 sqft |
2023-12-01 | 70 days | 2,006 sqft |
2024-01-01 | 78 days | 2,008 sqft |
2024-02-01 | 77 days | 2,025 sqft |
2024-03-01 | 56 days | 2,052 sqft |
2024-04-01 | 52 days | 2,072 sqft |
2024-05-01 | 52 days | 2,117 sqft |
2024-06-01 | 60 days | 2,112 sqft |
2024-07-01 | 65 days | 2,094 sqft |
2024-08-01 | 65 days | 2,056 sqft |
2024-09-01 | 66 days | 2,049 sqft |
2024-10-01 | 68 days | 2,048 sqft |
Jackson's median square footage for active listings during the 2024-10-01 period was 2,048 sqft. One year prior, the average listing was 1,998 sqft.