Jacksonville FHA Loans
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 267 lenders originated 9,251 FHA loans during 2021. The total origination value was $2,121,635,000, with an average FHA loan value of $229,341.
Jacksonville FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Jacksonville
averaged
5.29%
for the week of 2022-05-13, compared to the national average (all FHA variants) of
5.361% for the same period.
The average rate for the prior week (2022-05-06) was
5.32% and
one month ago for the week of 2022-04-08, the
average rate was 4.98%.
The average rate one year ago was 2.99%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.23%.
Jacksonville 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 Jacksonville level.
The top Jacksonville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
752 FHA loans originated. Their average total fees are
$6,634, which is $926
lower than the next largest lender,
DHI MORTGAGE COMPANY, LTD..
The lowest fee Jacksonville FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($3,025), OCEANSIDE MORTGAGE COMPANY ($3,419), Bank of America ($3,446), Mr. Cooper ( Nationstar Mortgage ) ($4,615) and AmeriHome Mortgage Company, LLC ($4,618).
The lowest rate Jacksonville FHA lenders (with over 10 loans originated) are
MATTAMY HOME FUNDING, LLC (2.56%), Flagstar Bank, FSB (2.63%), Regions Bank (2.73%), InterContinental Capital Group, Inc (2.73%) and QUICKEN LOANS, LLC (2.74%).
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 |
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 | $313,490 (8.1%) | $424,319 (5.3%) | 1.15 | 7,612 |
| 2018-02-01 | $319,950 (9.9%) | $430,274 (6.8%) | 1.15 | 7,788 |
| 2018-03-01 | $325,000 (8.4%) | $442,349 (6.8%) | 1.12 | 8,015 |
| 2018-04-01 | $325,000 (5.2%) | $443,808 (5.2%) | 1.09 | 8,202 |
| 2018-05-01 | $322,990 (1.5%) | $442,536 (1.3%) | 1.08 | 8,479 |
| 2018-06-01 | $323,990 (2.9%) | $438,235 (1.1%) | 1.08 | 8,787 |
| 2018-07-01 | $315,000 (1.0%) | $425,459 (-1.2%) | 1.05 | 9,308 |
| 2018-08-01 | $312,693 (0.1%) | $423,689 (-0.9%) | 1.04 | 9,265 |
| 2018-09-01 | $307,990 (-0.3%) | $416,160 (-1.7%) | 1.03 | 9,274 |
| 2018-10-01 | $299,950 (-4.1%) | $412,502 (-2.2%) | 1.00 | 9,529 |
| 2018-11-01 | $299,700 (-4.1%) | $410,051 (-3.2%) | 1.00 | 9,588 |
| 2018-12-01 | $300,000 (-3.2%) | $409,877 (-2.1%) | 1.03 | 9,276 |
| 2019-01-01 | $301,350 (-3.9%) | $414,979 (-2.2%) | 1.04 | 8,899 |
| 2019-02-01 | $308,334 (-3.6%) | $420,433 (-2.3%) | 1.03 | 9,071 |
| 2019-03-01 | $313,714 (-3.5%) | $433,819 (-1.9%) | 1.02 | 9,032 |
| 2019-04-01 | $321,250 (-1.2%) | $449,186 (1.2%) | 1.01 | 9,131 |
| 2019-05-01 | $323,900 (0.3%) | $453,992 (2.6%) | 1.00 | 9,191 |
| 2019-06-01 | $319,990 (-1.2%) | $453,550 (3.5%) | 0.98 | 9,220 |
| 2019-07-01 | $315,450 (0.1%) | $447,256 (5.1%) | 0.98 | 9,084 |
| 2019-08-01 | $312,800 (0.0%) | $445,518 (5.2%) | 0.98 | 8,948 |
| 2019-09-01 | $309,950 (0.6%) | $444,969 (6.9%) | 0.98 | 8,738 |
| 2019-10-01 | $314,445 (4.8%) | $450,052 (9.1%) | 1.00 | 8,957 |
| 2019-11-01 | $313,990 (4.8%) | $449,174 (9.5%) | 1.01 | 8,869 |
| 2019-12-01 | $309,995 (3.3%) | $446,017 (8.8%) | 1.03 | 8,479 |
| 2020-01-01 | $311,995 (3.5%) | $446,213 (7.5%) | 1.04 | 7,991 |
| 2020-02-01 | $319,900 (3.8%) | $452,897 (7.7%) | 1.03 | 7,881 |
| 2020-03-01 | $324,850 (3.6%) | $455,956 (5.1%) | 1.02 | 7,932 |
| 2020-04-01 | $315,293 (-1.9%) | $443,949 (-1.2%) | 0.98 | 8,527 |
| 2020-05-01 | $321,990 (-0.6%) | $448,446 (-1.2%) | 0.98 | 8,139 |
| 2020-06-01 | $321,025 (0.3%) | $451,846 (-0.4%) | 0.94 | 7,224 |
| 2020-07-01 | $323,400 (2.5%) | $461,022 (3.1%) | 0.93 | 6,488 |
| 2020-08-01 | $327,000 (4.5%) | $476,268 (6.9%) | 0.93 | 5,805 |
| 2020-09-01 | $328,278 (5.9%) | $482,110 (8.4%) | 0.94 | 5,101 |
| 2020-10-01 | $324,900 (3.3%) | $479,717 (6.6%) | 0.93 | 4,882 |
| 2020-11-01 | $319,450 (1.7%) | $485,924 (8.2%) | 0.91 | 4,708 |
| 2020-12-01 | $318,450 (2.7%) | $486,738 (9.1%) | 0.93 | 4,264 |
| 2021-01-01 | $318,990 (2.2%) | $486,461 (9.0%) | 0.94 | 3,500 |
| 2021-02-01 | $327,450 (2.4%) | $513,369 (13.4%) | 0.94 | 2,771 |
| 2021-03-01 | $334,180 (2.9%) | $524,601 (15.1%) | 0.94 | 2,391 |
| 2021-04-01 | $341,400 (8.3%) | $539,584 (21.5%) | 0.92 | 2,345 |
| 2021-05-01 | $347,500 (7.9%) | $536,379 (19.6%) | 0.91 | 2,403 |
| 2021-06-01 | $349,995 (9.0%) | $529,484 (17.2%) | 0.91 | 2,705 |
| 2021-07-01 | $350,254 (8.3%) | $536,258 (16.3%) | 0.91 | 3,023 |
| 2021-08-01 | $359,000 (9.8%) | $536,864 (12.7%) | 0.94 | 3,279 |
| 2021-09-01 | $369,876 (12.7%) | $542,572 (12.5%) | 0.97 | 3,435 |
| 2021-10-01 | $369,900 (13.9%) | $529,298 (10.3%) | 0.97 | 3,506 |
| 2021-11-01 | $374,900 (17.4%) | $540,111 (11.2%) | 0.99 | 3,136 |
| 2021-12-01 | $376,250 (18.2%) | $560,468 (15.2%) | 1.00 | 2,720 |
| 2022-01-01 | $385,000 (20.7%) | $584,914 (20.2%) | 1.03 | 2,430 |
| 2022-02-01 | $392,500 (19.9%) | $601,459 (17.2%) | 1.00 | 2,054 |
| 2022-03-01 | $406,000 (21.5%) | $621,919 (18.6%) | 1.00 | 1,901 |
| 2022-04-01 | $419,900 (23.0%) | $616,449 (14.3%) | 0.99 | 2,202 |
Jacksonville's median listing price comes in at 99% of the national average.
Jacksonville's average listing price for 2022-04-01 was $616,449, a difference of $76,865 (14.3%) versus the prior year and $-5,470 versus the prior month.
For the 2022-04-01 period, Jacksonville had 2,202 MLS listings, a difference of 301 listings (16%) versus the prior month and -143 listings (-6%) 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 | 2,062 sqft |
| 2018-02-01 | 77 days | 2,064 sqft |
| 2018-03-01 | 58 days | 2,099 sqft |
| 2018-04-01 | 59 days | 2,107 sqft |
| 2018-05-01 | 61 days | 2,087 sqft |
| 2018-06-01 | 62 days | 2,098 sqft |
| 2018-07-01 | 64 days | 2,060 sqft |
| 2018-08-01 | 64 days | 2,050 sqft |
| 2018-09-01 | 67 days | 2,031 sqft |
| 2018-10-01 | 68 days | 2,010 sqft |
| 2018-11-01 | 71 days | 1,996 sqft |
| 2018-12-01 | 78 days | 1,998 sqft |
| 2019-01-01 | 84 days | 1,986 sqft |
| 2019-02-01 | 80 days | 1,986 sqft |
| 2019-03-01 | 62 days | 2,025 sqft |
| 2019-04-01 | 63 days | 2,062 sqft |
| 2019-05-01 | 64 days | 2,072 sqft |
| 2019-06-01 | 64 days | 2,066 sqft |
| 2019-07-01 | 70 days | 2,052 sqft |
| 2019-08-01 | 70 days | 2,030 sqft |
| 2019-09-01 | 72 days | 2,014 sqft |
| 2019-10-01 | 70 days | 2,017 sqft |
| 2019-11-01 | 69 days | 2,003 sqft |
| 2019-12-01 | 73 days | 1,993 sqft |
| 2020-01-01 | 81 days | 1,987 sqft |
| 2020-02-01 | 74 days | 1,992 sqft |
| 2020-03-01 | 58 days | 1,992 sqft |
| 2020-04-01 | 58 days | 1,956 sqft |
| 2020-05-01 | 67 days | 1,960 sqft |
| 2020-06-01 | 67 days | 1,950 sqft |
| 2020-07-01 | 64 days | 1,962 sqft |
| 2020-08-01 | 59 days | 1,958 sqft |
| 2020-09-01 | 57 days | 1,930 sqft |
| 2020-10-01 | 51 days | 1,897 sqft |
| 2020-11-01 | 51 days | 1,868 sqft |
| 2020-12-01 | 57 days | 1,862 sqft |
| 2021-01-01 | 64 days | 1,856 sqft |
| 2021-02-01 | 55 days | 1,856 sqft |
| 2021-03-01 | 44 days | 1,859 sqft |
| 2021-04-01 | 39 days | 1,833 sqft |
| 2021-05-01 | 38 days | 1,821 sqft |
| 2021-06-01 | 37 days | 1,809 sqft |
| 2021-07-01 | 37 days | 1,800 sqft |
| 2021-08-01 | 38 days | 1,807 sqft |
| 2021-09-01 | 38 days | 1,802 sqft |
| 2021-10-01 | 39 days | 1,820 sqft |
| 2021-11-01 | 43 days | 1,811 sqft |
| 2021-12-01 | 50 days | 1,810 sqft |
| 2022-01-01 | 52 days | 1,814 sqft |
| 2022-02-01 | 40 days | 1,826 sqft |
| 2022-03-01 | 38 days | 1,868 sqft |
| 2022-04-01 | 31 days | 1,860 sqft |
Jacksonville's median square footage for active listings during the 2022-04-01 period was 1,860 sqft. One year prior, the average listing was 1,833 sqft.
