Lakeland FHA Loan Rates, Closing Costs & Stats

LAKELAND-WINTER HAVEN, 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.

Lakeland's 240 lenders originated 6,855 FHA loans during 2023. The total origination value was $2,023,375,000, with an average FHA loan value of $295,168.

Lakeland FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Lakeland averaged 6.42% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Lakeland's average FHA mortgage closing costs are $9,565.

The average rate for the prior week (2024-04-05) was 6.44% and one month ago for the week of 2024-03-08, the average rate was 6.58%.

The average rate one year ago was 6.11%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.8%.

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

Lakeland 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 Lakeland level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 871 6.40% $13,316
DHI MORTGAGE COMPANY, LTD. 744 5.45% $9,503
EAGLE HOME MORTGAGE, LLC 303 5.49% $11,467
QUICKEN LOANS, LLC 291 6.14% $12,587
BROKER SOLUTIONS, INC. 223 6.40% $15,980
HOME SOLUTION LENDERS INC. 215 5.71% $19,284
LOANDEPOT.COM, LLC 208 6.31% $11,672
VANDERBILT MORTGAGE AND FINANCE, INC. 166 5.56% $14,555
NVR Mortgage Finance, Inc. 151 5.70% $10,215
KBHS HOME LOANS, LLC 144 6.02% $14,060
THE MORTGAGE FIRM, INC. 138 6.52% $11,436
CROSSCOUNTRY MORTGAGE, LLC 135 6.65% $13,582
NFM, INC. 131 6.08% $13,650
FBC MORTGAGE, LLC 130 6.07% $12,243
Plains Commerce Bank 107 6.45% $14,211
FREEDOM MORTGAGE CORPORATION 104 6.60% $13,823
MOVEMENT MORTGAGE, LLC 87 6.69% $12,067
CARDINAL FINANCIAL 83 6.59% $13,631
GARDNER FINANCIAL SERVICES, LTD. 77 7.17% $12,072
STOCKTON MORTGAGE CORPORATION 71 6.63% $12,883
NEWREZ LLC 71 6.33% $13,110
Paramount Residential Mortgage Group, Inc. 69 6.70% $14,843
EVERETT FINANCIAL, INC. 65 6.87% $12,924
PENNYMAC LOAN SERVICES, LLC 61 6.14% $13,561
HOMEAMERICAN MORTGAGE CORPORATION 56 5.47% $7,902
AMERICAN FINANCIAL NETWORK, INC. 53 6.91% $14,059
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 53 6.64% $12,243
GUARANTEED RATE, INC. 50 6.10% $13,550
PARK SQUARE HOME MORTGAGE, LLC 48 4.76% $10,560
PULTE MORTGAGE LLC 47 5.68% $8,175
HOMEBRIDGE FINANCIAL SERVICES, INC. 46 5.45% $15,837
CALIBER HOME LOANS, INC. 45 5.81% $13,479
Waterstone Mortgage Corporation 41 6.45% $16,323
CMG MORTGAGE, INC. 41 6.25% $17,724
Equity Prime Mortgage LLC 40 6.80% $14,006
JET HOMELOANS, LLC 36 6.00% $12,922
MUTUAL OF OMAHA MORTGAGE, INC. 36 6.19% $14,759
AMERICAN PACIFIC MORTGAGE CORPORATION 33 6.56% $12,730
INSPIRE HOME LOANS INC. 32 5.40% $9,840
Carrington Mortgage Services, LLC 28 6.41% $14,099
South Pacific Financial Corporation 27 4.98% $10,739
GENEVA FINANCIAL, LLC 27 6.69% $13,939
AMERISAVE MORTGAGE CORPORATION 24 5.99% $14,135
MY MORTGAGE, INC. 24 6.78% $14,809
Mr. Cooper ( Nationstar Mortgage ) 24 5.96% $15,396
Flagstar Bank, FSB 23 6.49% $14,701
GUILD MORTGAGE COMPANY 22 6.44% $10,511
First Heritage Mortgage, LLC 20 6.20% $20,458
SUN WEST MORTGAGE COMPANY, INC. 20 6.21% $15,761
PLANET HOME LENDING, LLC 19 6.27% $11,388
UNION HOME MORTGAGE CORP. 18 6.64% $12,184
HOMEOWNERS FINANCIAL GROUP USA, LLC 17 6.59% $13,575
South State Bank 17 6.32% $12,002
LOANPAL, LLC 17 5.71% $15,005
OCMBC, INC. 15 7.36% $13,924
Mortgage Lenders Investment Trading Corporation 15 7.12% $10,738
PLAZA HOME MORTGAGE, INC. 15 6.56% $14,486
Nations Lending Corporation 13 6.84% $10,892
HOMESIDE FINANCIAL, LLC 13 6.82% $14,043
Bank of England 13 6.24% $12,886
Sierra Pacific Mortgage Company, Inc. 13 6.31% $13,030
Century Mortgage Company DBA Century Lending Company 12 5.86% $14,862
EMM LOANS LLC 12 6.44% $14,398
TOWNE MORTGAGE COMPANY 12 6.35% $14,168
OPEN MORTGAGE, LLC 12 6.59% $10,878
PRIMELENDING, A PLAINSCAPITAL COMPANY 11 6.39% $12,215
EMBRACE HOME LOANS, INC. 11 6.19% $13,160
LAKEVIEW LOAN SERVICING, LLC 11 5.94% $11,161
AMERICAN FINANCIAL RESOURCES, INC. 11 7.00% $12,417
ACOPIA, LLC 10 6.37% $13,670
MICHIGAN MUTUAL, INC. 10 5.91% $16,238
MID AMERICA MORTGAGE, INC. 10 7.44% $9,841
Ixonia Bank 10 6.79% $12,402
ENDEAVOR CAPITAL, LLC. 10 6.01% $11,827
CANOPY MORTGAGE, LLC 10 6.51% $14,425
HOMESPIRE MORTGAGE CORPORATION 10 6.93% $12,005
GUARANTEED RATE AFFINITY, LLC 10 6.58% $13,139
GSF Mortgage Corporation 10 6.24% $15,489
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 10 6.90% $11,389
Loan Simple, Inc. 9 7.04% $13,277
JPMorgan Chase Bank 9 6.04% $8,064
NORTHPOINT MORTGAGE, INC. 9 6.76% $11,016
MORTGAGE EQUITY PARTNERS LLC 9 6.72% $14,780
AMCAP MORTGAGE, LTD. 9 6.93% $13,112
PREMIER MORTGAGE RESOURCES, L.L.C. 8 6.56% $14,941
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 8 6.75% $14,821
Regions Bank 8 6.08% $11,554
VELOCIO MORTGAGE L.L.C. 8 6.47% $17,079
ZILLOW HOME LOANS, LLC 8 6.47% $12,184
BAY EQUITY LLC 7 6.38% $15,466
GERSHMAN INVESTMENT CORP. 7 6.91% $11,227
Prosperity Home Mortgage, LLC 7 6.21% $13,624
VAN DYK MORTGAGE CORPORATION 7 6.73% $7,164
TOP FLITE FINANCIAL, INC. 7 6.52% $17,038
Lakeview Community Capital, LLC 7 5.77% $14,695
Keystone Funding, Inc. 6 6.19% $14,112
ABSOLUTE HOME MORTGAGE CORPORATION 6 6.25% $15,120
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 6 6.69% $13,633
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 6 6.63% $11,111
EQUITY RESOURCES, INC. 6 6.50% $8,675
Hometown Equity Mortgage, LLC 6 6.69% $13,493
NATIONS RELIABLE LENDING, LLC 6 6.38% $11,749
NATIONS DIRECT MORTGAGE, LLC 6 6.64% $12,615
DAS Acquisition Company, LLC 6 7.23% $12,753
Hancock Whitney Bank 5 6.20% $9,275
LEADERONE FINANCIAL CORPORATION 5 7.03% $12,340
Cornerstone First Mortgage, Inc 5 7.15% $13,173
READY MORTGAGE LENDERS, LLC 5 7.05% $18,289
SOUTHPOINT FINANCIAL SERVICES, INC. 5 6.48% $9,733
The Federal Savings Bank 5 6.20% $15,936
PENTAGON FEDERAL CREDIT UNION 5 5.63% $10,706
Barrington Bank & Trust Company, N.A. 5 6.50% $12,078
Citizens Bank 5 6.38% $11,460
AMERICAN PORTFOLIO MORTGAGE CORPORATION 4 7.22% $9,916
LAND HOME FINANCIAL SERVICES, INC. 4 6.84% $12,009
M&T Bank 4 6.34% $9,863
Bell Bank 4 5.88% $12,226
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.88% $13,491
American Mortgage & Equity Consultants, Inc. 4 6.69% $11,810
SUCCESS MORTGAGE PARTNERS, INC. 4 6.78% $14,812
Summit Mortgage Corporation 4 6.47% $13,825
TOTAL MORTGAGE SERVICES, LLC 4 6.31% $16,928
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 7.42% $12,978
AmeriHome Mortgage Company, LLC 3 6.13% $10,493
AXIA FINANCIAL, LLC 3 6.38% $16,700
AHL FUNDING 3 7.33% $21,388
United Fidelity Funding Corp. 3 7.04% $11,788
BECKAM FUNDING CORP. 3 6.83% $18,556
LOANLEADERS OF AMERICA, INC. 3 6.25% $16,874
Mortgage Research Center, LLC 3 7.25% $9,596
Synovus Bank 3 6.58% $9,963
Ameris Bank 3 6.46% $9,932
INTERCAP LENDING INC. 3 6.54% $14,100
Wells Fargo Bank 3 6.29% $8,486
HOMESTAR FINANCIAL CORPORATION 3 6.17% $6,761
AMERICAN BANCSHARES MORTGAGE 3 6.58% $17,913
VILLAGE CAPITAL MORTGAGE 3 5.92% $9,099
LADERA LENDING, INC. 3 5.88% $16,401
1ST FINANCIAL, INC. 3 6.54% $20,963
Gateway First Bank 3 6.04% $7,866
First Option Mortgage, LLC 3 6.50% $12,444
U.S. Bank 2 6.56% $11,410
BM Real Estate Services, Inc. 2 5.94% $15,746
NJ LENDERS CORP. 2 6.62% $13,120
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.94% $20,120
CORNERSTONE HOME LENDING, INC. 2 6.19% $12,090
CHURCHILL MORTGAGE CORPORATION 2 6.81% $10,626
Midwest Mortgage Associates Corporation 2 6.44% $17,406
MILEND, INC. 2 6.19% $16,318
RESIDENTIAL BANCORP 2 6.06% $15,170
INTELLILOAN, INC. 2 6.69% $7,536
MLD MORTGAGE INC. 2 5.94% $11,145
CLIFFCO, INC. 2 6.99% $11,315
DRAPER AND KRAMER MORTGAGE CORP. 2 6.69% $11,467
SECURITYNATIONAL MORTGAGE COMPANY 2 7.13% $12,485
SHELTER HOME MORTGAGE, LLC 2 6.50% $12,350
FAIRWAY FUNDING GROUP, INC. 2 6.69% $12,070
NATIONWIDE MORTGAGE BANKERS, INC. 2 6.75% $21,127
SOUTHWEST STAGE FUNDING, LLC 2 7.63% $6,745
Strong Home Mortgage, LLC 2 6.69% $8,850
NETWORK CAPITAL FUNDING CORPORATION 2 6.94% $12,061
AMERICAN FINANCING CORPORATION 2 7.19% $12,034
MORTGAGE INVESTORS GROUP, INC. 2 5.94% $8,188
FIRST ALLIANCE HOME MORTGAGE, LLC 2 6.50% $13,449
First Federal Bank 2 5.81% $11,772
PREFERRED LENDING SERVICES, LLC 2 6.75% $12,299
Premium Mortgage Corporation 2 6.56% $16,918
Town Square Mortgage & Investments, Inc. 2 6.75% $7,585
Truist 2 6.50% $9,342
Advisors Mortgage Group, L.L.C. 2 7.19% $16,102
SOUTHERN TRUST MORTGAGE, LLC 1 6.13% $10,646
FIRST EQUITY MORTGAGE BANKERS, INC. 1 6.75% $16,596
First Savings Bank 1 7.25% $16,910
GEO-CORP, INC. 1 7.13% $12,392
SUMMIT MORTGAGE CORPORATION 1 7.38% $12,374
SWBC MORTGAGE CORPORATION 1 7.25% $11,946
T2 FINANCIAL LLC 1 7.25% $9,063
TD Bank 1 6.00% $9,425
The Loan Store, Inc. 1 6.75% $20,725
TJC Mortgage, Inc. 1 6.25% $14,172
First Horizon Bank 1 7.00% $11,082
ALLIED MORTGAGE GROUP, INC. 1 5.75% $12,080
US MORTGAGE CORPORATION 1 7.13% $12,910
ACADEMY MORTGAGE CORPORATION 1 6.50% $12,119
FIRST MORTGAGE COMPANY, INC. 1 6.99% $11,625
WRIGHT-PATT CREDIT UNION, INC. 1 6.63% $12,330
KELLER MORTGAGE, LLC 1 6.50% $7,456
J. VIRGIL, INC. 1 6.75% $11,763
Kwik Mortgage Corporation 1 7.75% $10,626
DG PINNACLE FUNDING LLC 1 7.50% $7,656
JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 1 6.63% $13,858
Leader Bank 1 6.75% $12,431
VERITAS FUNDING, LLC 1 7.13% $15,406
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.75% $11,738
LEGEND LENDING CORPORATION 1 7.25% $20,516
CONTOUR MORTGAGE CORPORATION 1 6.75% $20,304
Civista Bank 1 6.13% $9,945
MANN FINANCIAL INC. 1 6.75% $9,608
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.75% $20,687
MEMBER FIRST MORTGAGE, LLC 1 7.25% $19,077
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.75% $14,186
ML Mortgage Corp. 1 6.63% $18,456
Citibank 1 5.50% $7,431
CIBM Bank 1 5.63% $13,010
Chickasaw Community Bank 1 6.50% $11,966
CHERRY CREEK MORTGAGE, LLC 1 6.25% $5,656
CBM Mortgage, Inc. 1 6.13% $14,309
Byline Bank 1 6.13% $11,597
Neighborhood Loans, Inc. 1 7.50% $10,550
Network Funding, L.P. 1 6.75% $12,700
NEW FED MORTGAGE, CORP. 1 6.25% $14,491
BOND STREET MORTGAGE, LLC 1 7.62% $13,880
NORTHERN MORTGAGE SERVICES, LLC 1 6.13% $12,135
Northpointe Bank 1 7.50% $6,525
Blue Ridge Bank 1 6.75% $11,140
NTFN, INC. 1 7.13% $13,592
BETTER MORTGAGE CORPORATION 1 5.63% $20,555
GTE Federal Credit Union 1 5.88% $7,447
BELEM SERVICING LLC 1 6.62% $16,821
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.63% $14,535
PANORAMA MORTGAGE GROUP, LLC 1 7.25% $13,091
Fifth Third Bank 1 6.63% $10,842
Performance Financial, Inc. 1 6.13% $16,797
PHH Mortgage Corporation 1 5.88% $15,328
Atlantic Coast Mortgage, LLC 1 6.25% $12,799
POLARIS HOME FUNDING CORP. 1 5.75% $11,485
WATSON MORTGAGE CORP. 1 6.63% $8,054
HOME FINANCING CENTER, INC. 1 7.63% $23,799
PROVINCE MORTGAGE ASSOCIATES, INC. 1 6.25% $23,469
ARC HOME LLC 1 6.13% $16,389
AmRes Corporation 1 7.00% $23,080
FIRST COMMUNITY MORTGAGE, INC. 1 6.25% $20,642
Wolfe Financial, Inc 1 6.88% $15,719
RELIANCE FIRST CAPITAL, LLC 1 6.88% $13,322
RESIDENTIAL HOME MORTGAGE CORPORATION 1 5.50% $13,957
RESOURCE FINANCIAL SERVICES, INC. 1 6.13% $8,645
ROYAL UNITED MORTGAGE LLC 1 6.88% $8,797
RUOFF MORTGAGE COMPANY, INC. 1 6.50% $5,817
SeaTrust Mortgage Company 1 6.38% $9,673
Shamrock Home Loans, Inc. 1 6.50% $15,922

The top Lakeland FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 871 FHA loans originated. Their average total fees are $13,316, which is $3,813 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Lakeland FHA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION ($7,902), PULTE MORTGAGE LLC ($8,175), DHI MORTGAGE COMPANY, LTD. ($9,503), INSPIRE HOME LOANS INC. ($9,840) and MID AMERICA MORTGAGE, INC. ($9,841).

The lowest rate Lakeland FHA lenders (with over 10 loans originated) are PARK SQUARE HOME MORTGAGE, LLC (4.76%), South Pacific Financial Corporation (4.98%), INSPIRE HOME LOANS INC. (5.40%), HOMEBRIDGE FINANCIAL SERVICES, INC. (5.45%) and DHI MORTGAGE COMPANY, LTD. (5.45%).

Lakeland FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
LAKELAND-WINTER HAVEN, FL POLK 2022 $420,680 $538,650 $651,050 $809,150
LAKELAND-WINTER HAVEN, FL POLK 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Lakeland (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 $219,000 (9.6%) $258,660 (8.0%) 0.81 2,628
2018-02-01 $219,900 (7.6%) $259,706 (6.9%) 0.80 2,648
2018-03-01 $222,825 (8.8%) $263,192 (7.6%) 0.78 2,578
2018-04-01 $224,950 (7.1%) $273,636 (9.4%) 0.76 2,502
2018-05-01 $224,950 (4.7%) $275,616 (9.4%) 0.75 2,519
2018-06-01 $225,000 (3.9%) $275,270 (7.5%) 0.75 2,535
2018-07-01 $228,375 (4.8%) $278,348 (7.9%) 0.76 2,534
2018-08-01 $227,425 (3.6%) $276,628 (7.0%) 0.76 2,663
2018-09-01 $225,000 (2.5%) $272,424 (5.3%) 0.76 2,802
2018-10-01 $224,900 (2.5%) $271,559 (4.3%) 0.76 2,886
2018-11-01 $223,948 (1.6%) $268,801 (2.6%) 0.76 3,047
2018-12-01 $224,000 (2.3%) $266,583 (3.4%) 0.77 3,040
2019-01-01 $222,024 (1.4%) $261,527 (1.1%) 0.77 3,193
2019-02-01 $224,450 (2.1%) $260,067 (0.1%) 0.76 3,320
2019-03-01 $224,998 (1.0%) $267,344 (1.6%) 0.74 3,197
2019-04-01 $225,000 (0.0%) $273,390 (-0.1%) 0.71 3,034
2019-05-01 $229,450 (2.0%) $276,876 (0.5%) 0.72 2,877
2019-06-01 $229,900 (2.2%) $282,390 (2.6%) 0.72 2,808
2019-07-01 $229,553 (0.5%) $286,851 (3.1%) 0.72 2,810
2019-08-01 $229,245 (0.8%) $286,698 (3.6%) 0.73 2,933
2019-09-01 $229,614 (2.1%) $280,595 (3.0%) 0.73 3,018
2019-10-01 $229,859 (2.2%) $276,430 (1.8%) 0.74 3,070
2019-11-01 $229,000 (2.3%) $273,715 (1.8%) 0.75 3,035
2019-12-01 $229,700 (2.5%) $271,864 (2.0%) 0.77 2,977
2020-01-01 $230,056 (3.6%) $273,843 (4.7%) 0.77 2,916
2020-02-01 $234,000 (4.3%) $278,540 (7.1%) 0.77 2,810
2020-03-01 $234,900 (4.4%) $281,285 (5.2%) 0.74 2,692
2020-04-01 $234,463 (4.2%) $272,947 (-0.2%) 0.73 2,874
2020-05-01 $234,490 (2.2%) $274,454 (-0.9%) 0.71 2,723
2020-06-01 $234,950 (2.2%) $274,532 (-2.8%) 0.69 2,453
2020-07-01 $235,250 (2.5%) $275,408 (-4.0%) 0.68 2,319
2020-08-01 $239,900 (4.7%) $284,268 (-0.9%) 0.69 2,078
2020-09-01 $243,605 (6.1%) $287,781 (2.6%) 0.70 2,003
2020-10-01 $245,000 (6.6%) $286,107 (3.5%) 0.70 2,020
2020-11-01 $245,860 (7.4%) $288,862 (5.5%) 0.72 2,052
2020-12-01 $249,695 (8.7%) $290,439 (6.8%) 0.74 1,928
2021-01-01 $252,180 (9.6%) $296,770 (8.4%) 0.75 1,660
2021-02-01 $252,265 (7.8%) $301,684 (8.3%) 0.73 1,359
2021-03-01 $256,950 (9.4%) $314,013 (11.6%) 0.73 1,048
2021-04-01 $264,950 (13.0%) $326,804 (19.7%) 0.72 884
2021-05-01 $274,900 (17.2%) $347,849 (26.7%) 0.73 777
2021-06-01 $283,960 (20.9%) $363,544 (32.4%) 0.75 808
2021-07-01 $285,000 (21.2%) $355,889 (29.2%) 0.75 1,011
2021-08-01 $296,617 (23.6%) $357,204 (25.7%) 0.79 1,083
2021-09-01 $307,500 (26.2%) $372,904 (29.6%) 0.82 1,096
2021-10-01 $319,900 (30.6%) $379,838 (32.8%) 0.85 1,127
2021-11-01 $317,013 (28.9%) $380,058 (31.6%) 0.85 1,106
2021-12-01 $327,450 (31.1%) $394,418 (35.8%) 0.89 1,044
2022-01-01 $325,000 (28.9%) $401,222 (35.2%) 0.88 939
2022-02-01 $331,033 (31.2%) $410,887 (36.2%) 0.86 859
2022-03-01 $342,900 (33.5%) $415,868 (32.4%) 0.86 888
2022-04-01 $350,000 (32.1%) $430,510 (31.7%) 0.83 933
2022-05-01 $364,765 (32.7%) $430,146 (23.7%) 0.83 1,267
2022-06-01 $370,030 (30.3%) $429,737 (18.2%) 0.82 1,594
2022-07-01 $365,000 (28.1%) $414,408 (16.4%) 0.82 2,178
2022-08-01 $364,000 (22.7%) $414,283 (16.0%) 0.84 2,565
2022-09-01 $359,999 (17.1%) $409,778 (9.9%) 0.84 2,743
2022-10-01 $359,900 (12.5%) $408,043 (7.4%) 0.85 2,816
2022-11-01 $351,125 (10.8%) $400,055 (5.3%) 0.84 3,101
2022-12-01 $349,900 (6.9%) $397,010 (0.7%) 0.86 3,071
2023-01-01 $349,000 (7.4%) $400,193 (-0.3%) 0.86 2,994
2023-02-01 $349,000 (5.4%) $400,838 (-2.5%) 0.84 2,897
2023-03-01 $349,950 (2.1%) $408,401 (-1.8%) 0.83 2,725
2023-04-01 $349,495 (-0.1%) $403,789 (-6.2%) 0.81 2,680
2023-05-01 $350,000 (-4.1%) $415,882 (-3.3%) 0.79 2,633
2023-06-01 $353,700 (-4.4%) $420,839 (-2.1%) 0.79 2,571
2023-07-01 $358,000 (-1.9%) $423,952 (2.3%) 0.81 2,561
2023-08-01 $359,495 (-1.2%) $426,306 (2.9%) 0.83 2,765
2023-09-01 $358,793 (-0.3%) $415,459 (1.4%) 0.84 3,010
2023-10-01 $355,000 (-1.4%) $416,330 (2.0%) 0.84 3,307
2023-11-01 $355,000 (1.1%) $421,488 (5.4%) 0.85 3,481
2023-12-01 $350,000 (0.0%) $419,754 (5.7%) 0.85 3,582
2024-01-01 $350,000 (0.3%) $418,243 (4.5%) 0.85 3,554
2024-02-01 $350,000 (0.3%) $414,251 (3.4%) 0.84 3,746
2024-03-01 $349,950 (0.0%) $409,691 (0.3%) 0.82 3,922
Lakeland's median listing price for 2024-03-01 was $349,950, a difference of $0 (0.0%) versus the prior year and $-50 versus the prior month.

Lakeland's median listing price comes in at 82% of the national average.

Lakeland's average listing price for 2024-03-01 was $409,691, a difference of $1,290 (0.3%) versus the prior year and $-4,560 versus the prior month.

For the 2024-03-01 period, Lakeland had 3,922 MLS listings, a difference of 176 listings (5%) versus the prior month and 1,197 listings (44%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Lakeland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 68 days 1,884 sqft
2018-02-01 65 days 1,880 sqft
2018-03-01 58 days 1,882 sqft
2018-04-01 58 days 1,918 sqft
2018-05-01 58 days 1,911 sqft
2018-06-01 57 days 1,911 sqft
2018-07-01 58 days 1,918 sqft
2018-08-01 54 days 1,919 sqft
2018-09-01 55 days 1,883 sqft
2018-10-01 60 days 1,862 sqft
2018-11-01 59 days 1,859 sqft
2018-12-01 65 days 1,855 sqft
2019-01-01 68 days 1,848 sqft
2019-02-01 59 days 1,836 sqft
2019-03-01 56 days 1,847 sqft
2019-04-01 60 days 1,847 sqft
2019-05-01 63 days 1,854 sqft
2019-06-01 64 days 1,877 sqft
2019-07-01 61 days 1,856 sqft
2019-08-01 61 days 1,845 sqft
2019-09-01 62 days 1,836 sqft
2019-10-01 63 days 1,829 sqft
2019-11-01 60 days 1,828 sqft
2019-12-01 67 days 1,828 sqft
2020-01-01 69 days 1,828 sqft
2020-02-01 67 days 1,831 sqft
2020-03-01 57 days 1,836 sqft
2020-04-01 57 days 1,828 sqft
2020-05-01 68 days 1,828 sqft
2020-06-01 75 days 1,828 sqft
2020-07-01 64 days 1,818 sqft
2020-08-01 57 days 1,821 sqft
2020-09-01 53 days 1,814 sqft
2020-10-01 51 days 1,787 sqft
2020-11-01 49 days 1,803 sqft
2020-12-01 54 days 1,816 sqft
2021-01-01 61 days 1,813 sqft
2021-02-01 54 days 1,776 sqft
2021-03-01 44 days 1,806 sqft
2021-04-01 40 days 1,806 sqft
2021-05-01 38 days 1,798 sqft
2021-06-01 34 days 1,807 sqft
2021-07-01 33 days 1,798 sqft
2021-08-01 36 days 1,810 sqft
2021-09-01 37 days 1,807 sqft
2021-10-01 36 days 1,825 sqft
2021-11-01 38 days 1,802 sqft
2021-12-01 51 days 1,819 sqft
2022-01-01 43 days 1,814 sqft
2022-02-01 33 days 1,800 sqft
2022-03-01 32 days 1,777 sqft
2022-04-01 31 days 1,798 sqft
2022-05-01 28 days 1,821 sqft
2022-06-01 30 days 1,826 sqft
2022-07-01 33 days 1,820 sqft
2022-08-01 37 days 1,823 sqft
2022-09-01 44 days 1,827 sqft
2022-10-01 55 days 1,828 sqft
2022-11-01 61 days 1,820 sqft
2022-12-01 67 days 1,824 sqft
2023-01-01 71 days 1,824 sqft
2023-02-01 67 days 1,828 sqft
2023-03-01 56 days 1,831 sqft
2023-04-01 58 days 1,819 sqft
2023-05-01 54 days 1,828 sqft
2023-06-01 55 days 1,838 sqft
2023-07-01 54 days 1,851 sqft
2023-08-01 51 days 1,851 sqft
2023-09-01 53 days 1,837 sqft
2023-10-01 54 days 1,834 sqft
2023-11-01 57 days 1,829 sqft
2023-12-01 64 days 1,820 sqft
2024-01-01 73 days 1,819 sqft
2024-02-01 70 days 1,823 sqft
2024-03-01 59 days 1,819 sqft
Lakeland's median listing age (time on market) for 2024-03-01 was 59 days. This is 5% longer than the same period one year ago.

Lakeland's median square footage for active listings during the 2024-03-01 period was 1,819 sqft. One year prior, the average listing was 1,831 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).