Jacksonville FHA Loan Rates, Closing Costs & Stats
JACKSONVILLE, FL
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.
Jacksonville's 262 lenders originated 6,223 FHA loans during 2022. The total origination value was $1,672,465,000, with an average FHA loan value of $268,755.
Jacksonville FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Jacksonville
averaged
5.89%
for the week of 2023-05-26, compared to the national average (all FHA variants) of
6.612% for the same period.
Jacksonville's average FHA mortgage closing costs are $8,233.
The average rate for the prior week (2023-05-19) was
6.17% and
one month ago for the week of 2023-04-21, the
average rate was 5.81%.
The average rate one year ago was 5.02%.
For refis of the same type during the week of 2023-05-26, the average rate
was 4.98%.
Jacksonville 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 Jacksonville level.
The top Jacksonville FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
522 FHA loans originated. Their average total fees are
$11,496, which is $149
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Jacksonville FHA lenders (with over 10 loans originated) are
Bank of America ($6,517), HOMEAMERICAN MORTGAGE CORPORATION ($7,311), VYSTAR ($7,439), EVERETT FINANCIAL, INC. ($7,598) and Lakeview Community Capital, LLC ($7,797).
The lowest rate Jacksonville FHA lenders (with over 10 loans originated) are
First Guaranty Mortgage Corporation (3.83%), Lakeview Community Capital, LLC (3.91%), Bank of America (4.06%), Citizens Bank (4.07%) and First Option Mortgage, LLC (4.12%).
Jacksonville FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| JACKSONVILLE, FL | BAKER | 2022 | $432,400 | $553,550 | $669,100 | $831,550 |
| JACKSONVILLE, FL | CLAY | 2022 | $432,400 | $553,550 | $669,100 | $831,550 |
| JACKSONVILLE, FL | DUVAL | 2022 | $432,400 | $553,550 | $669,100 | $831,550 |
| JACKSONVILLE, FL | NASSAU | 2022 | $432,400 | $553,550 | $669,100 | $831,550 |
| JACKSONVILLE, FL | ST. JOHNS | 2022 | $432,400 | $553,550 | $669,100 | $831,550 |
| JACKSONVILLE, FL | BAKER | 2023 | $526,700 | $674,250 | $815,050 | $1,012,900 |
| JACKSONVILLE, FL | CLAY | 2023 | $526,700 | $674,250 | $815,050 | $1,012,900 |
| JACKSONVILLE, FL | DUVAL | 2023 | $526,700 | $674,250 | $815,050 | $1,012,900 |
| JACKSONVILLE, FL | NASSAU | 2023 | $526,700 | $674,250 | $815,050 | $1,012,900 |
| JACKSONVILLE, FL | ST. JOHNS | 2023 | $526,700 | $674,250 | $815,050 | $1,012,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Jacksonville (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 | $311,635 (9.4%) | $425,320 (6.3%) | 1.16 | 6,549 |
| 2018-02-01 | $318,923 (11.1%) | $431,920 (8.2%) | 1.16 | 6,711 |
| 2018-03-01 | $324,900 (9.0%) | $443,002 (7.9%) | 1.14 | 6,991 |
| 2018-04-01 | $324,450 (7.6%) | $443,457 (5.9%) | 1.10 | 7,117 |
| 2018-05-01 | $319,950 (1.6%) | $444,151 (2.3%) | 1.07 | 7,351 |
| 2018-06-01 | $319,900 (3.4%) | $437,089 (1.8%) | 1.07 | 7,619 |
| 2018-07-01 | $309,000 (0.0%) | $422,874 (-1.1%) | 1.03 | 8,144 |
| 2018-08-01 | $302,345 (-2.2%) | $419,315 (-1.8%) | 1.01 | 8,169 |
| 2018-09-01 | $299,000 (-1.6%) | $411,006 (-2.9%) | 1.01 | 8,165 |
| 2018-10-01 | $294,995 (-4.6%) | $406,823 (-3.3%) | 1.00 | 8,336 |
| 2018-11-01 | $291,495 (-6.0%) | $403,685 (-4.7%) | 0.99 | 8,429 |
| 2018-12-01 | $295,895 (-3.0%) | $403,835 (-3.6%) | 1.02 | 8,114 |
| 2019-01-01 | $296,995 (-4.7%) | $408,388 (-4.0%) | 1.03 | 7,813 |
| 2019-02-01 | $299,900 (-6.0%) | $415,188 (-3.9%) | 1.01 | 7,884 |
| 2019-03-01 | $305,000 (-6.1%) | $431,411 (-2.6%) | 1.02 | 8,082 |
| 2019-04-01 | $312,356 (-3.7%) | $443,562 (0.0%) | 0.99 | 7,904 |
| 2019-05-01 | $314,950 (-1.6%) | $445,410 (0.3%) | 0.98 | 7,913 |
| 2019-06-01 | $311,302 (-2.7%) | $444,268 (1.6%) | 0.97 | 7,953 |
| 2019-07-01 | $308,139 (-0.3%) | $438,962 (3.8%) | 0.96 | 7,888 |
| 2019-08-01 | $313,900 (3.8%) | $449,778 (7.3%) | 0.98 | 7,835 |
| 2019-09-01 | $309,500 (3.5%) | $451,194 (9.8%) | 0.98 | 7,113 |
| 2019-10-01 | $299,900 (1.7%) | $434,537 (6.8%) | 0.97 | 7,709 |
| 2019-11-01 | $299,999 (2.9%) | $437,401 (8.4%) | 0.98 | 7,594 |
| 2019-12-01 | $299,949 (1.4%) | $437,630 (8.4%) | 1.00 | 7,244 |
| 2020-01-01 | $299,950 (1.0%) | $437,977 (7.3%) | 1.00 | 6,861 |
| 2020-02-01 | $310,000 (3.4%) | $444,802 (7.1%) | 1.02 | 6,785 |
| 2020-03-01 | $311,498 (2.1%) | $441,907 (2.4%) | 0.98 | 6,846 |
| 2020-04-01 | $299,950 (-4.0%) | $428,418 (-3.4%) | 0.94 | 7,385 |
| 2020-05-01 | $305,990 (-2.8%) | $434,250 (-2.5%) | 0.93 | 7,040 |
| 2020-06-01 | $308,423 (-0.9%) | $435,167 (-2.1%) | 0.91 | 6,225 |
| 2020-07-01 | $312,450 (1.4%) | $442,590 (0.8%) | 0.91 | 5,631 |
| 2020-08-01 | $315,000 (0.4%) | $451,078 (0.3%) | 0.90 | 5,025 |
| 2020-09-01 | $315,000 (1.8%) | $458,640 (1.7%) | 0.90 | 4,440 |
| 2020-10-01 | $309,500 (3.2%) | $456,928 (5.2%) | 0.89 | 4,255 |
| 2020-11-01 | $302,945 (1.0%) | $461,768 (5.6%) | 0.89 | 4,078 |
| 2020-12-01 | $300,864 (0.3%) | $464,782 (6.2%) | 0.89 | 3,699 |
| 2021-01-01 | $307,313 (2.5%) | $472,474 (7.9%) | 0.92 | 3,040 |
| 2021-02-01 | $314,963 (1.6%) | $495,116 (11.3%) | 0.92 | 2,450 |
| 2021-03-01 | $319,675 (2.6%) | $502,902 (13.8%) | 0.91 | 2,159 |
| 2021-04-01 | $329,950 (10.0%) | $524,508 (22.4%) | 0.89 | 2,144 |
| 2021-05-01 | $336,850 (10.1%) | $520,427 (19.8%) | 0.89 | 2,213 |
| 2021-06-01 | $345,592 (12.1%) | $519,730 (19.4%) | 0.91 | 2,441 |
| 2021-07-01 | $349,700 (11.9%) | $527,714 (19.2%) | 0.92 | 2,753 |
| 2021-08-01 | $350,000 (11.1%) | $527,122 (16.9%) | 0.93 | 2,893 |
| 2021-09-01 | $359,948 (14.3%) | $528,078 (15.1%) | 0.96 | 3,017 |
| 2021-10-01 | $355,782 (15.0%) | $512,316 (12.1%) | 0.95 | 3,080 |
| 2021-11-01 | $361,500 (19.3%) | $523,037 (13.3%) | 0.97 | 2,780 |
| 2021-12-01 | $368,450 (22.5%) | $547,221 (17.7%) | 1.00 | 2,394 |
| 2022-01-01 | $375,000 (22.0%) | $564,717 (19.5%) | 1.01 | 2,147 |
| 2022-02-01 | $381,495 (21.1%) | $582,723 (17.7%) | 0.99 | 1,859 |
| 2022-03-01 | $397,565 (24.4%) | $605,096 (20.3%) | 1.00 | 1,732 |
| 2022-04-01 | $410,000 (24.3%) | $603,079 (15.0%) | 0.98 | 2,003 |
| 2022-05-01 | $432,200 (28.3%) | $615,889 (18.3%) | 0.99 | 2,655 |
| 2022-06-01 | $442,500 (28.0%) | $616,552 (18.6%) | 0.99 | 3,384 |
| 2022-07-01 | $430,000 (23.0%) | $599,339 (13.6%) | 0.97 | 4,382 |
| 2022-08-01 | $421,030 (20.3%) | $591,002 (12.1%) | 0.97 | 5,149 |
| 2022-09-01 | $407,500 (13.2%) | $569,903 (7.9%) | 0.95 | 5,574 |
| 2022-10-01 | $400,000 (12.4%) | $564,789 (10.2%) | 0.94 | 5,848 |
| 2022-11-01 | $397,995 (10.1%) | $550,890 (5.3%) | 0.96 | 6,048 |
| 2022-12-01 | $389,450 (5.7%) | $544,984 (-0.4%) | 0.96 | 5,804 |
| 2023-01-01 | $385,000 (2.7%) | $544,371 (-3.6%) | 0.95 | 5,299 |
| 2023-02-01 | $389,950 (2.2%) | $556,394 (-4.5%) | 0.94 | 5,065 |
| 2023-03-01 | $399,700 (0.5%) | $578,654 (-4.4%) | 0.94 | 4,789 |
| 2023-04-01 | $410,000 (0.0%) | $600,671 (-0.4%) | 0.95 | 4,498 |
Jacksonville's median listing price comes in at 95% of the national average.
Jacksonville's average listing price for 2023-04-01 was $600,671, a difference of $-2,408 (-0.4%) versus the prior year and $22,017 versus the prior month.
For the 2023-04-01 period, Jacksonville had 4,498 MLS listings, a difference of -291 listings (-6%) versus the prior month and 2,495 listings (125%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Jacksonville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 82 days | 2,076 sqft |
| 2018-02-01 | 75 days | 2,077 sqft |
| 2018-03-01 | 57 days | 2,115 sqft |
| 2018-04-01 | 58 days | 2,113 sqft |
| 2018-05-01 | 59 days | 2,098 sqft |
| 2018-06-01 | 60 days | 2,103 sqft |
| 2018-07-01 | 62 days | 2,056 sqft |
| 2018-08-01 | 64 days | 2,037 sqft |
| 2018-09-01 | 67 days | 2,013 sqft |
| 2018-10-01 | 68 days | 2,000 sqft |
| 2018-11-01 | 72 days | 1,986 sqft |
| 2018-12-01 | 77 days | 1,988 sqft |
| 2019-01-01 | 84 days | 1,978 sqft |
| 2019-02-01 | 80 days | 1,972 sqft |
| 2019-03-01 | 61 days | 2,011 sqft |
| 2019-04-01 | 60 days | 2,043 sqft |
| 2019-05-01 | 63 days | 2,055 sqft |
| 2019-06-01 | 64 days | 2,049 sqft |
| 2019-07-01 | 67 days | 2,041 sqft |
| 2019-08-01 | 74 days | 2,037 sqft |
| 2019-09-01 | 79 days | 2,029 sqft |
| 2019-10-01 | 73 days | 1,989 sqft |
| 2019-11-01 | 70 days | 1,986 sqft |
| 2019-12-01 | 74 days | 1,981 sqft |
| 2020-01-01 | 82 days | 1,976 sqft |
| 2020-02-01 | 75 days | 1,981 sqft |
| 2020-03-01 | 61 days | 1,961 sqft |
| 2020-04-01 | 64 days | 1,915 sqft |
| 2020-05-01 | 71 days | 1,933 sqft |
| 2020-06-01 | 78 days | 1,932 sqft |
| 2020-07-01 | 77 days | 1,938 sqft |
| 2020-08-01 | 75 days | 1,922 sqft |
| 2020-09-01 | 70 days | 1,896 sqft |
| 2020-10-01 | 62 days | 1,862 sqft |
| 2020-11-01 | 61 days | 1,852 sqft |
| 2020-12-01 | 63 days | 1,831 sqft |
| 2021-01-01 | 64 days | 1,819 sqft |
| 2021-02-01 | 59 days | 1,802 sqft |
| 2021-03-01 | 47 days | 1,808 sqft |
| 2021-04-01 | 40 days | 1,806 sqft |
| 2021-05-01 | 41 days | 1,813 sqft |
| 2021-06-01 | 36 days | 1,800 sqft |
| 2021-07-01 | 36 days | 1,804 sqft |
| 2021-08-01 | 37 days | 1,796 sqft |
| 2021-09-01 | 37 days | 1,783 sqft |
| 2021-10-01 | 39 days | 1,798 sqft |
| 2021-11-01 | 43 days | 1,793 sqft |
| 2021-12-01 | 50 days | 1,798 sqft |
| 2022-01-01 | 50 days | 1,798 sqft |
| 2022-02-01 | 38 days | 1,800 sqft |
| 2022-03-01 | 36 days | 1,855 sqft |
| 2022-04-01 | 29 days | 1,834 sqft |
| 2022-05-01 | 28 days | 1,858 sqft |
| 2022-06-01 | 29 days | 1,856 sqft |
| 2022-07-01 | 33 days | 1,851 sqft |
| 2022-08-01 | 41 days | 1,846 sqft |
| 2022-09-01 | 47 days | 1,831 sqft |
| 2022-10-01 | 54 days | 1,823 sqft |
| 2022-11-01 | 60 days | 1,815 sqft |
| 2022-12-01 | 65 days | 1,799 sqft |
| 2023-01-01 | 74 days | 1,793 sqft |
| 2023-02-01 | 65 days | 1,805 sqft |
| 2023-03-01 | 54 days | 1,810 sqft |
| 2023-04-01 | 52 days | 1,832 sqft |
Jacksonville's median square footage for active listings during the 2023-04-01 period was 1,832 sqft. One year prior, the average listing was 1,834 sqft.