Jacksonville FHA Loan Rates, Closing Costs & Stats

JACKSONVILLE, NC

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 102 lenders originated 585 FHA loans during 2022. The total origination value was $144,865,000, with an average FHA loan value of $247,632.

Jacksonville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Jacksonville averaged 6.27% for the week of 2024-03-01, compared to the national average (all FHA variants) of 6.688% for the same period.

Jacksonville's average FHA mortgage closing costs are $6,703.

The average rate for the prior week (2024-02-23) was 6.26% and one month ago for the week of 2024-01-26, the average rate was 5.85%.

The average rate one year ago was 6.18%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.02%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

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.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Alpha Mortgage Corporation 78 5.24% $8,469
MOVEMENT MORTGAGE, LLC 59 4.99% $8,474
QUICKEN LOANS, LLC 46 4.35% $9,335
FREEDOM MORTGAGE CORPORATION 34 4.88% $7,281
GUARANTEED RATE, INC. 29 4.68% $9,090
CALIBER HOME LOANS, INC. 22 4.76% $7,286
UNION HOME MORTGAGE CORP. 18 5.07% $8,027
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 18 5.35% $8,793
UNITED WHOLESALE MORTGAGE, LLC 17 4.91% $8,325
GUILD MORTGAGE COMPANY 14 5.13% $7,922
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 5.04% $8,223
CROSSCOUNTRY MORTGAGE, LLC 10 4.88% $9,603
ANGEL OAK HOME LOANS LLC 9 5.65% $9,534
BROKER SOLUTIONS, INC. 9 4.61% $9,411
INTERCOASTAL MORTGAGE COMPANY 8 4.88% $6,727
SeaTrust Mortgage Company 8 5.33% $9,309
JET HOMELOANS, LLC 7 5.77% $8,881
PENNYMAC LOAN SERVICES, LLC 7 4.39% $9,217
Mortgage Research Center, LLC 6 4.98% $4,963
DHI MORTGAGE COMPANY, LTD. 6 4.02% $9,638
HOME POINT FINANCIAL CORPORATION 5 5.40% $5,866
Mr. Cooper ( Nationstar Mortgage ) 5 5.13% $9,992
American Security Mortgage Corp. 5 3.63% $8,743
LOANDEPOT.COM, LLC 5 4.40% $6,520
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 5.97% $8,342
Towne Bank 4 5.09% $10,244
PLAZA HOME MORTGAGE, INC. 4 5.31% $7,984
Paramount Residential Mortgage Group, Inc. 3 5.38% $9,192
NEWREZ LLC 3 6.04% $8,901
Barrington Bank & Trust Company, N.A. 3 5.00% $8,968
VANDERBILT MORTGAGE AND FINANCE, INC. 3 5.75% $10,095
VILLAGE CAPITAL MORTGAGE 3 3.24% $2,813
Carrington Mortgage Services, LLC 3 5.21% $9,388
LAKEVIEW LOAN SERVICING, LLC 3 4.38% $7,404
AMERISAVE MORTGAGE CORPORATION 3 4.58% $12,219
Wyndham Capital Mortgage, Inc. 2 3.25% $6,182
EQUITY RESOURCES, INC. 2 3.31% $7,098
Nations Lending Corporation 2 5.50% $10,105
NFM, INC. 2 5.56% $8,680
CARDINAL FINANCIAL 2 4.25% $13,265
PLANET HOME LENDING, LLC 2 3.87% $5,522
Gateway First Bank 2 5.31% $10,088
RESOURCE FINANCIAL SERVICES, INC. 2 5.69% $8,737
CMG MORTGAGE, INC. 2 5.75% $7,340
Sierra Pacific Mortgage Company, Inc. 2 4.31% $7,687
JPMorgan Chase Bank 2 6.00% $8,558
TOP FLITE FINANCIAL, INC. 2 4.81% $14,960
Wells Fargo Bank 2 4.81% $7,293
Equity Prime Mortgage LLC 2 5.56% $12,500
TOWNE MORTGAGE COMPANY 1 5.75% $5,682
Truist 1 5.13% $8,550
Truliant Federal Credit Union 1 3.75% $9,993
United Bank 1 4.13% $8,574
NEW DAY FINANCIAL, LLC 1 3.88% $12,040
ACADEMY MORTGAGE CORPORATION 1 6.13% $10,251
Acre Mortgage and Financial Inc 1 3.75% $6,732
AMERICAN FINANCING CORPORATION 1 5.75% $7,129
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.63% $11,026
Amerifirst Financial, Inc. 1 5.88% $5,425
BancorpSouth 1 5.63% $7,627
Bank of England 1 5.75% $9,895
Blue Ridge Bank 1 4.25% $8,636
CHURCHILL MORTGAGE CORPORATION 1 4.63% $11,615
CIS Financial Services, Inc. 1 6.38% $8,225
CORNERSTONE HOME LENDING, INC. 1 3.75% $10,417
EMBRACE HOME LOANS, INC. 1 3.99% $10,640
EMM LOANS LLC 1 4.63% $10,177
EVERETT FINANCIAL, INC. 1 4.88% $5,911
FINANCE OF AMERICA MORTGAGE LLC 1 3.25% $6,822
First Guaranty Mortgage Corporation 1 4.13% $6,809
First Heritage Mortgage, LLC 1 6.13% $8,287
First Home Bank 1 4.13% $9,264
Flagstar Bank, FSB 1 6.25% $10,661
GENEVA FINANCIAL, LLC 1 3.25% $6,852
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.50% $4,967
Hometown Lenders, Inc. 1 5.50% $7,372
LAND HOME FINANCIAL SERVICES, INC. 1 5.50% $10,401
LOANPAL, LLC 1 4.88% $8,628
MID AMERICA MORTGAGE, INC. 1 5.00% $5,598
MIDLAND MORTGAGE CORPORATION 1 7.13% $10,677
MLD MORTGAGE INC. 1 6.50% $8,116
MORIA DEVELOPMENT, INC. 1 5.63% $6,387
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $8,791
NATIONS DIRECT MORTGAGE, LLC 1 7.00% $11,996
NETWORK CAPITAL FUNDING CORPORATION 1 6.25% $6,552
1ST PREFERENCE MORTGAGE CORP. 1 4.00% $7,877
North American Savings Bank, F.S.B. 1 4.00% $7,016
Northpointe Bank 1 5.75% $6,942
North State Bank 1 4.75% $4,816
OVM FINANCIAL, INC. 1 3.75% $7,796
PNC Bank 1 6.00% $7,510
POLARIS HOME FUNDING CORP. 1 5.63% $9,399
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.13% $6,684
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 4.25% $6,543
ROYAL UNITED MORTGAGE LLC 1 6.75% $11,860
SECURITYNATIONAL MORTGAGE COMPANY 1 6.75% $8,130
SHELTER HOME MORTGAGE, LLC 1 5.13% $7,758
SOVEREIGN LENDING GROUP INCORPORATED 1 4.25% $10,598
Stride Bank 1 3.50% $11,629
SUN WEST MORTGAGE COMPANY, INC. 1 4.25% $7,090
T2 FINANCIAL LLC 1 6.25% $12,269
TOTAL MORTGAGE SERVICES, LLC 1 5.63% $19,895

The top Jacksonville FHA lender as defined by loan originations is Alpha Mortgage Corporation, with 78 FHA loans originated. Their average total fees are $8,469, which is $5 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Jacksonville FHA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($7,281), CALIBER HOME LOANS, INC. ($7,286), GUILD MORTGAGE COMPANY ($7,922), UNION HOME MORTGAGE CORP. ($8,027) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,223).

The lowest rate Jacksonville FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.35%), GUARANTEED RATE, INC. (4.68%), CALIBER HOME LOANS, INC. (4.76%), CROSSCOUNTRY MORTGAGE, LLC (4.88%) and FREEDOM MORTGAGE CORPORATION (4.88%).

Jacksonville FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
JACKSONVILLE, NC ONSLOW 2022 $420,680 $538,650 $651,050 $809,150
JACKSONVILLE, NC ONSLOW 2023 $472,030 $604,400 $730,525 $907,900

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 $187,750 (16.8%) $229,259 (18.6%) 0.70 1,284
2018-02-01 $186,950 (12.1%) $223,099 (12.2%) 0.68 1,331
2018-03-01 $188,500 (11.2%) $227,323 (12.1%) 0.66 1,398
2018-04-01 $189,950 (11.5%) $232,836 (12.5%) 0.64 1,374
2018-05-01 $194,598 (14.1%) $235,631 (14.5%) 0.65 1,390
2018-06-01 $194,900 (11.7%) $237,359 (11.2%) 0.65 1,381
2018-07-01 $192,000 (8.5%) $238,375 (8.0%) 0.64 1,408
2018-08-01 $194,950 (8.3%) $239,325 (7.1%) 0.65 1,391
2018-09-01 $194,500 (6.3%) $238,018 (5.7%) 0.65 1,371
2018-10-01 $195,948 (6.4%) $241,153 (7.5%) 0.66 1,037
2018-11-01 $199,700 (7.2%) $244,258 (8.0%) 0.68 948
2018-12-01 $201,000 (7.5%) $246,339 (7.9%) 0.69 864
2019-01-01 $207,450 (10.5%) $253,825 (10.7%) 0.72 779
2019-02-01 $211,850 (13.3%) $262,038 (17.5%) 0.72 746
2019-03-01 $213,718 (13.4%) $267,971 (17.9%) 0.70 730
2019-04-01 $211,838 (11.5%) $261,383 (12.3%) 0.67 813
2019-05-01 $211,425 (8.7%) $267,543 (13.5%) 0.66 1,011
2019-06-01 $210,350 (7.9%) $260,916 (9.9%) 0.66 1,138
2019-07-01 $211,000 (9.9%) $262,122 (10.0%) 0.66 1,216
2019-08-01 $209,455 (7.4%) $258,966 (8.2%) 0.66 1,297
2019-09-01 $208,636 (7.3%) $257,078 (8.0%) 0.67 1,334
2019-10-01 $208,091 (6.2%) $255,819 (6.1%) 0.67 1,362
2019-11-01 $206,000 (3.2%) $254,844 (4.3%) 0.68 1,375
2019-12-01 $208,325 (3.6%) $258,173 (4.8%) 0.69 1,285
2020-01-01 $209,900 (1.2%) $257,762 (1.6%) 0.70 1,208
2020-02-01 $209,900 (-0.9%) $257,574 (-1.7%) 0.69 1,176
2020-03-01 $213,700 (0.0%) $263,445 (-1.7%) 0.67 1,161
2020-04-01 $215,400 (1.7%) $266,162 (1.8%) 0.67 1,114
2020-05-01 $219,900 (4.0%) $276,307 (3.3%) 0.67 941
2020-06-01 $221,450 (5.3%) $276,978 (6.2%) 0.65 815
2020-07-01 $220,938 (4.7%) $277,207 (5.8%) 0.64 749
2020-08-01 $221,250 (5.6%) $283,533 (9.5%) 0.63 649
2020-09-01 $227,400 (9.0%) $285,287 (11.0%) 0.65 580
2020-10-01 $226,225 (8.7%) $289,755 (13.3%) 0.65 557
2020-11-01 $227,125 (10.3%) $296,774 (16.5%) 0.66 522
2020-12-01 $226,375 (8.7%) $303,587 (17.6%) 0.67 429
2021-01-01 $230,950 (10.0%) $315,055 (22.2%) 0.69 369
2021-02-01 $222,925 (6.2%) $314,273 (22.0%) 0.65 302
2021-03-01 $223,250 (4.5%) $309,944 (17.7%) 0.63 301
2021-04-01 $223,450 (3.7%) $314,968 (18.3%) 0.60 286
2021-05-01 $225,000 (2.3%) $318,496 (15.3%) 0.60 305
2021-06-01 $229,450 (3.6%) $331,918 (19.8%) 0.60 325
2021-07-01 $230,000 (4.1%) $338,728 (22.2%) 0.61 335
2021-08-01 $229,975 (3.9%) $342,443 (20.8%) 0.61 342
2021-09-01 $237,500 (4.4%) $340,823 (19.5%) 0.63 327
2021-10-01 $231,000 (2.1%) $334,774 (15.5%) 0.62 350
2021-11-01 $256,220 (12.8%) $353,599 (19.2%) 0.68 353
2021-12-01 $264,225 (16.7%) $365,008 (20.2%) 0.72 349
2022-01-01 $274,250 (18.8%) $384,040 (21.9%) 0.74 270
2022-02-01 $266,500 (19.6%) $372,904 (18.7%) 0.69 227
2022-03-01 $261,475 (17.1%) $365,787 (18.0%) 0.65 234
2022-04-01 $277,500 (24.2%) $390,963 (24.1%) 0.66 260
2022-05-01 $299,945 (33.3%) $406,391 (27.6%) 0.69 336
2022-06-01 $302,450 (31.8%) $415,825 (25.3%) 0.67 380
2022-07-01 $315,000 (37.0%) $426,071 (25.8%) 0.71 468
2022-08-01 $329,700 (43.4%) $428,164 (25.0%) 0.76 501
2022-09-01 $322,000 (35.6%) $413,648 (21.4%) 0.75 501
2022-10-01 $325,000 (40.7%) $407,079 (21.6%) 0.76 553
2022-11-01 $329,444 (28.6%) $408,192 (15.4%) 0.79 619
2022-12-01 $329,900 (24.9%) $411,309 (12.7%) 0.81 602
2023-01-01 $330,000 (20.3%) $407,682 (6.2%) 0.82 588
2023-02-01 $330,450 (24.0%) $399,586 (7.2%) 0.80 557
2023-03-01 $335,900 (28.5%) $413,235 (13.0%) 0.79 512
2023-04-01 $344,900 (24.3%) $417,804 (6.9%) 0.80 495
2023-05-01 $349,225 (16.4%) $432,551 (6.4%) 0.79 550
2023-06-01 $347,450 (14.9%) $437,925 (5.3%) 0.78 550
2023-07-01 $340,000 (7.9%) $423,838 (-0.5%) 0.77 575
2023-08-01 $335,925 (1.9%) $419,209 (-2.1%) 0.77 591
2023-09-01 $329,000 (2.2%) $415,073 (0.3%) 0.77 672
2023-10-01 $324,975 (0.0%) $395,942 (-2.7%) 0.76 736
2023-11-01 $325,000 (-1.4%) $397,533 (-2.6%) 0.77 812
2023-12-01 $325,000 (-1.5%) $403,993 (-1.8%) 0.79 836
2024-01-01 $324,450 (-1.7%) $400,477 (-1.8%) 0.79 781
Jacksonville's median listing price for 2024-01-01 was $324,450, a difference of $-5,550 (-1.7%) versus the prior year and $-550 versus the prior month.

Jacksonville's median listing price comes in at 79% of the national average.

Jacksonville's average listing price for 2024-01-01 was $400,477, a difference of $-7,205 (-1.8%) versus the prior year and $-3,516 versus the prior month.

For the 2024-01-01 period, Jacksonville had 781 MLS listings, a difference of -55 listings (-7%) versus the prior month and 193 listings (33%) 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 97 days 1,754 sqft
2018-02-01 86 days 1,748 sqft
2018-03-01 63 days 1,753 sqft
2018-04-01 63 days 1,756 sqft
2018-05-01 62 days 1,760 sqft
2018-06-01 65 days 1,760 sqft
2018-07-01 66 days 1,764 sqft
2018-08-01 68 days 1,786 sqft
2018-09-01 81 days 1,779 sqft
2018-10-01 101 days 1,781 sqft
2018-11-01 102 days 1,784 sqft
2018-12-01 108 days 1,782 sqft
2019-01-01 90 days 1,814 sqft
2019-02-01 74 days 1,862 sqft
2019-03-01 52 days 1,883 sqft
2019-04-01 37 days 1,871 sqft
2019-05-01 37 days 1,844 sqft
2019-06-01 50 days 1,821 sqft
2019-07-01 55 days 1,811 sqft
2019-08-01 59 days 1,792 sqft
2019-09-01 66 days 1,777 sqft
2019-10-01 74 days 1,761 sqft
2019-11-01 73 days 1,760 sqft
2019-12-01 83 days 1,770 sqft
2020-01-01 94 days 1,760 sqft
2020-02-01 89 days 1,731 sqft
2020-03-01 68 days 1,710 sqft
2020-04-01 70 days 1,736 sqft
2020-05-01 75 days 1,777 sqft
2020-06-01 69 days 1,800 sqft
2020-07-01 57 days 1,804 sqft
2020-08-01 57 days 1,794 sqft
2020-09-01 64 days 1,790 sqft
2020-10-01 59 days 1,800 sqft
2020-11-01 68 days 1,789 sqft
2020-12-01 68 days 1,763 sqft
2021-01-01 60 days 1,813 sqft
2021-02-01 49 days 1,723 sqft
2021-03-01 40 days 1,690 sqft
2021-04-01 40 days 1,712 sqft
2021-05-01 38 days 1,674 sqft
2021-06-01 41 days 1,670 sqft
2021-07-01 40 days 1,647 sqft
2021-08-01 41 days 1,622 sqft
2021-09-01 40 days 1,653 sqft
2021-10-01 39 days 1,600 sqft
2021-11-01 38 days 1,710 sqft
2021-12-01 53 days 1,729 sqft
2022-01-01 61 days 1,728 sqft
2022-02-01 42 days 1,679 sqft
2022-03-01 34 days 1,591 sqft
2022-04-01 34 days 1,657 sqft
2022-05-01 32 days 1,736 sqft
2022-06-01 36 days 1,731 sqft
2022-07-01 38 days 1,860 sqft
2022-08-01 43 days 1,865 sqft
2022-09-01 49 days 1,827 sqft
2022-10-01 49 days 1,865 sqft
2022-11-01 48 days 1,895 sqft
2022-12-01 59 days 1,904 sqft
2023-01-01 71 days 1,910 sqft
2023-02-01 51 days 1,901 sqft
2023-03-01 45 days 1,900 sqft
2023-04-01 45 days 1,941 sqft
2023-05-01 38 days 1,964 sqft
2023-06-01 42 days 1,925 sqft
2023-07-01 44 days 1,884 sqft
2023-08-01 44 days 1,834 sqft
2023-09-01 47 days 1,825 sqft
2023-10-01 47 days 1,800 sqft
2023-11-01 49 days 1,788 sqft
2023-12-01 62 days 1,800 sqft
2024-01-01 73 days 1,801 sqft
Jacksonville's median listing age (time on market) for 2024-01-01 was 73 days. This is 2% longer than the same period one year ago.

Jacksonville's median square footage for active listings during the 2024-01-01 period was 1,801 sqft. One year prior, the average listing was 1,910 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).