Jasper FHA Loan Rates, Closing Costs & Stats

Jasper, AL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits

    • 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.

    Jasper's 57 lenders originated 204 FHA loans during 2024. The total origination value was $41,460,000, with an average FHA loan value of $203,235.

    Jasper FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Jasper averaged 6.51% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Jasper's average FHA mortgage closing costs are $6,937.

    The average rate for the prior week (2025-03-28) was 6.61% and one month ago for the week of 2025-02-28, the average rate was 6.19%.

    The average rate one year ago was 6.81%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.46%.

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

    Jasper 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 Jasper level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 35 6.25% $8,030
    GUILD MORTGAGE COMPANY 18 6.45% $8,977
    Synovus Bank 17 6.32% $8,070
    QUICKEN LOANS, LLC 15 6.45% $8,567
    MOVEMENT MORTGAGE, LLC 8 6.89% $9,668
    STOCKTON MORTGAGE CORPORATION 5 6.33% $11,354
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 4 6.78% $11,041
    BROKER SOLUTIONS, INC. 4 6.44% $7,897
    FREEDOM MORTGAGE CORPORATION 4 6.31% $8,630
    Regions Bank 3 6.04% $8,385
    LEADERONE FINANCIAL CORPORATION 3 7.46% $6,142
    THE MORTGAGE LINK, INC. 2 7.63% $10,099
    CARDINAL FINANCIAL 2 6.75% $13,534
    TOWNE MORTGAGE COMPANY 2 6.88% $6,940
    LOANDEPOT.COM, LLC 2 6.81% $13,939
    Victorian Finance, LLC 2 5.94% $7,158
    FIRST COLONY MORTGAGE CORPORATION 2 6.13% $7,997
    ACOPIA, LLC 2 7.00% $11,225
    FIRST COMMUNITY MORTGAGE, INC. 2 5.88% $12,159
    Mr. Cooper ( Nationstar Mortgage ) 2 6.50% $10,732
    First Federal Bank, A FSB 2 6.31% $10,408
    NEWREZ LLC 2 6.50% $7,816
    PENNYMAC LOAN SERVICES, LLC 2 6.38% $4,709
    AMERICAN FINANCIAL RESOURCES, INC. 2 7.44% $6,501
    PLAZA HOME MORTGAGE, INC. 2 7.06% $4,840
    Prosperity Home Mortgage, LLC 2 6.62% $9,041
    SeaTrust Mortgage Company 2 6.19% $9,132
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 2 6.81% $13,997
    VILLAGE CAPITAL MORTGAGE 1 7.75% $2,587
    ZILLOW HOME LOANS, LLC 1 6.75% $7,600
    AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $14,477
    AmeriHome Mortgage Company, LLC 1 6.99% $6,415
    Assurance Financial Group, L.L.C. 1 6.38% $11,744
    BancorpSouth 1 7.00% $5,552
    Bank of England 1 5.75% $15,200
    CIS Financial Services, Inc. 1 6.13% $7,689
    Consumer First Mortgage, Inc. 1 6.75% $5,275
    Cornerstone First Mortgage, Inc 1 7.13% $10,743
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $7,824
    Equity Prime Mortgage LLC 1 7.25% $19,375
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.99% $4,169
    Flagstar Bank, FSB 1 5.50% $13,701
    HOMESIDE FINANCIAL, LLC 1 5.63% $21,543
    INSPIRE HOME LOANS INC. 1 4.88% $7,502
    LAKEVIEW LOAN SERVICING, LLC 1 6.63% $8,824
    MORIA DEVELOPMENT, INC. 1 6.25% $6,027
    MORTGAGE INVESTORS GROUP, INC. 1 6.13% $9,344
    Mortgage Research Center, LLC 1 7.50% $3,124
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $9,048
    PHH Mortgage Corporation 1 6.63% $9,707
    Renasant Bank 1 6.75% $11,234
    SouthPoint Bank 1 6.00% $5,628
    The Loan Store, Inc. 1 6.63% $8,626
    THE MORTGAGE FIRM, INC. 1 6.25% $8,990
    TJC Mortgage, Inc. 1 7.00% $8,048
    Truist 1 6.25% $5,162
    UNION HOME MORTGAGE CORP. 1 6.13% $12,227

    The top Jasper FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 35 FHA loans originated. Their average total fees are $8,030, which is $947 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Jasper FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($8,030), Synovus Bank ($8,070), QUICKEN LOANS, LLC ($8,567), GUILD MORTGAGE COMPANY ($8,977) and .

    The lowest rate Jasper FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.25%), Synovus Bank (6.32%), QUICKEN LOANS, LLC (6.45%), GUILD MORTGAGE COMPANY (6.45%) and .

    Jasper FHA Loan Limits

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

    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).