Laurel FHA Loan Rates, Closing Costs & Stats
Laurel, MS
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.
Laurel's 44 lenders originated 127 FHA loans during 2023. The total origination value was $22,675,000, with an average FHA loan value of $178,543.
Laurel FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Laurel
averaged
-0.03%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Laurel's average FHA mortgage closing costs are $6,155.
The average rate for the prior week (2024-11-22) was
6.66% and
one month ago for the week of 2024-10-25, the
average rate was 6.44%.
The average rate one year ago was 7.33%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.1%.
Laurel 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 Laurel level.
The top Laurel FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
17 FHA loans originated. Their average total fees are
$7,030, which is $1,940
lower than the next largest lender,
Regions Bank.
The lowest fee Laurel FHA lenders (with over 10 loans originated) are
Trustmark National Bank ($6,953), QUICKEN LOANS, LLC ($7,030), Regions Bank ($8,971), .
The lowest rate Laurel FHA lenders (with over 10 loans originated) are
Regions Bank (5.99%), QUICKEN LOANS, LLC (6.10%), Trustmark National Bank (6.80%), .
Laurel FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
LAUREL, MS | JASPER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LAUREL, MS | JONES | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LAUREL, MS | JASPER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
LAUREL, MS | JONES | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Laurel (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $139,700 (8.0%) | $166,514 (6.1%) | 0.00 | 262 |
2018-02-01 | $139,375 (9.1%) | $166,471 (8.6%) | 0.00 | 264 |
2018-03-01 | $135,000 (5.5%) | $162,159 (5.3%) | 0.00 | 255 |
2018-04-01 | $136,000 (4.7%) | $163,067 (5.5%) | 0.00 | 261 |
2018-05-01 | $134,875 (6.2%) | $164,820 (6.7%) | 0.00 | 259 |
2018-06-01 | $135,000 (-3.0%) | $168,247 (4.2%) | 0.00 | 255 |
2018-07-01 | $136,625 (-1.7%) | $174,408 (7.2%) | 0.00 | 259 |
2018-08-01 | $131,200 (-1.5%) | $176,911 (8.6%) | 0.00 | 249 |
2018-09-01 | $143,700 (2.9%) | $183,091 (6.7%) | 0.00 | 252 |
2018-10-01 | $146,600 (6.3%) | $182,201 (5.8%) | 0.00 | 257 |
2018-11-01 | $144,900 (3.9%) | $182,280 (9.2%) | 0.00 | 242 |
2018-12-01 | $140,000 (0.5%) | $179,245 (8.1%) | 0.00 | 223 |
2019-01-01 | $139,950 (0.2%) | $175,532 (5.4%) | 0.00 | 223 |
2019-02-01 | $141,875 (1.8%) | $179,699 (8.0%) | 0.00 | 221 |
2019-03-01 | $151,386 (12.1%) | $188,279 (16.1%) | 0.00 | 214 |
2019-04-01 | $158,511 (16.6%) | $196,271 (20.4%) | 0.00 | 206 |
2019-05-01 | $145,450 (7.8%) | $188,794 (14.6%) | 0.00 | 205 |
2019-06-01 | $159,000 (17.8%) | $197,668 (17.5%) | 0.00 | 202 |
2019-07-01 | $160,625 (17.6%) | $208,917 (19.8%) | 0.00 | 198 |
2019-08-01 | $153,705 (17.2%) | $207,269 (17.2%) | 0.00 | 193 |
2019-09-01 | $151,761 (5.6%) | $205,854 (12.4%) | 0.00 | 187 |
2019-10-01 | $150,466 (2.6%) | $205,022 (12.5%) | 0.00 | 182 |
2019-11-01 | $164,500 (13.5%) | $214,022 (17.4%) | 0.00 | 173 |
2019-12-01 | $161,000 (15.0%) | $221,402 (23.5%) | 0.00 | 167 |
2020-01-01 | $156,750 (12.0%) | $207,236 (18.1%) | 0.00 | 157 |
2020-02-01 | $162,000 (14.2%) | $218,543 (21.6%) | 0.00 | 148 |
2020-03-01 | $161,500 (6.7%) | $216,574 (15.0%) | 0.00 | 139 |
2020-04-01 | $156,450 (-1.3%) | $210,192 (7.1%) | 0.00 | 144 |
2020-05-01 | $164,000 (12.8%) | $222,469 (17.8%) | 0.00 | 131 |
2020-06-01 | $156,250 (-1.7%) | $220,528 (11.6%) | 0.00 | 120 |
2020-07-01 | $149,600 (-6.9%) | $218,337 (4.5%) | 0.00 | 114 |
2020-08-01 | $159,500 (3.8%) | $228,165 (10.1%) | 0.00 | 104 |
2020-09-01 | $168,375 (11.0%) | $243,808 (18.4%) | 0.00 | 92 |
2020-10-01 | $191,000 (26.9%) | $241,166 (17.6%) | 0.00 | 82 |
2020-11-01 | $176,350 (7.2%) | $230,918 (7.9%) | 0.00 | 78 |
2020-12-01 | $189,250 (17.6%) | $243,154 (9.8%) | 0.00 | 91 |
2021-01-01 | $161,000 (2.7%) | $251,194 (21.2%) | 0.00 | 87 |
2021-02-01 | $192,000 (18.5%) | $256,413 (17.3%) | 0.00 | 82 |
2021-03-01 | $161,013 (-0.3%) | $236,700 (9.3%) | 0.00 | 68 |
2021-04-01 | $183,475 (17.3%) | $238,007 (13.2%) | 0.00 | 57 |
2021-05-01 | $164,500 (0.3%) | $233,428 (4.9%) | 0.00 | 49 |
2021-06-01 | $175,925 (12.6%) | $218,972 (-0.7%) | 0.00 | 52 |
2021-07-01 | $174,950 (17.0%) | $222,169 (1.8%) | 0.00 | 70 |
2021-08-01 | $184,925 (15.9%) | $220,709 (-3.3%) | 0.00 | 74 |
2021-09-01 | $189,800 (12.7%) | $221,076 (-9.3%) | 0.00 | 73 |
2021-10-01 | $184,900 (-3.2%) | $214,509 (-11.1%) | 0.00 | 65 |
2021-11-01 | $199,600 (13.2%) | $228,088 (-1.2%) | 0.00 | 91 |
2021-12-01 | $201,438 (6.4%) | $227,224 (-6.6%) | 0.00 | 85 |
2022-01-01 | $206,925 (28.5%) | $229,568 (-8.6%) | 0.00 | 76 |
2022-02-01 | $185,125 (-3.6%) | $240,106 (-6.4%) | 0.00 | 61 |
2022-03-01 | $190,875 (18.6%) | $240,976 (1.8%) | 0.00 | 59 |
2022-04-01 | $175,000 (-4.6%) | $240,370 (1.0%) | 0.00 | 72 |
2022-05-01 | $208,500 (26.8%) | $266,031 (14.0%) | 0.00 | 93 |
2022-06-01 | $239,025 (35.9%) | $297,078 (35.7%) | 0.00 | 103 |
2022-07-01 | $239,450 (36.9%) | $294,144 (32.4%) | 0.00 | 109 |
2022-08-01 | $252,250 (36.4%) | $315,897 (43.1%) | 0.00 | 103 |
2022-09-01 | $236,025 (24.4%) | $314,001 (42.0%) | 0.00 | 109 |
2022-10-01 | $207,000 (12.0%) | $304,003 (41.7%) | 0.00 | 109 |
2022-11-01 | $202,350 (1.4%) | $275,421 (20.8%) | 0.00 | 113 |
2022-12-01 | $184,900 (-8.2%) | $273,220 (20.2%) | 0.00 | 117 |
2023-01-01 | $179,975 (-13.0%) | $260,127 (13.3%) | 0.00 | 112 |
2023-02-01 | $179,700 (-2.9%) | $248,246 (3.4%) | 0.00 | 98 |
2023-03-01 | $169,900 (-11.0%) | $244,316 (1.4%) | 0.00 | 88 |
2023-04-01 | $182,000 (4.0%) | $262,925 (9.4%) | 0.00 | 97 |
2023-05-01 | $194,750 (-6.6%) | $261,788 (-1.6%) | 0.00 | 103 |
2023-06-01 | $197,000 (-17.6%) | $263,637 (-11.3%) | 0.00 | 99 |
2023-07-01 | $220,000 (-8.1%) | $271,231 (-7.8%) | 0.00 | 112 |
2023-08-01 | $214,250 (-15.1%) | $267,143 (-15.4%) | 0.00 | 129 |
2023-09-01 | $220,000 (-6.8%) | $275,220 (-12.4%) | 0.00 | 131 |
2023-10-01 | $220,000 (6.3%) | $266,962 (-12.2%) | 0.00 | 150 |
2023-11-01 | $226,000 (11.7%) | $267,286 (-3.0%) | 0.00 | 152 |
2023-12-01 | $225,000 (21.7%) | $267,744 (-2.0%) | 0.00 | 148 |
2024-01-01 | $226,000 (25.6%) | $269,910 (3.8%) | 0.00 | 145 |
2024-02-01 | $229,000 (27.4%) | $284,248 (14.5%) | 0.00 | 151 |
2024-03-01 | $239,000 (40.7%) | $292,979 (19.9%) | 0.00 | 146 |
2024-04-01 | $228,250 (25.4%) | $282,179 (7.3%) | 0.00 | 154 |
2024-05-01 | $222,500 (14.3%) | $293,715 (12.2%) | 0.00 | 138 |
2024-06-01 | $242,450 (23.1%) | $296,059 (12.3%) | 0.00 | 140 |
2024-07-01 | $241,725 (9.9%) | $291,665 (7.5%) | 0.00 | 138 |
2024-08-01 | $235,000 (9.7%) | $287,636 (7.7%) | 0.00 | 133 |
2024-09-01 | $247,000 (12.3%) | $287,247 (4.4%) | 0.00 | 139 |
2024-10-01 | $245,950 (11.8%) | $285,130 (6.8%) | 0.00 | 150 |
Laurel's median listing price comes in at 0% of the national average.
Laurel's average listing price for 2024-10-01 was $285,130, a difference of $18,168 (6.8%) versus the prior year and $-2,117 versus the prior month.
For the 2024-10-01 period, Laurel had 150 MLS listings, a difference of 11 listings (8%) versus the prior month and 0 listings (0%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Laurel (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,805 sqft |
2018-02-01 | 0 days | 1,856 sqft |
2018-03-01 | 0 days | 1,869 sqft |
2018-04-01 | 0 days | 1,905 sqft |
2018-05-01 | 0 days | 1,916 sqft |
2018-06-01 | 0 days | 1,960 sqft |
2018-07-01 | 0 days | 1,932 sqft |
2018-08-01 | 0 days | 1,947 sqft |
2018-09-01 | 0 days | 1,967 sqft |
2018-10-01 | 0 days | 1,998 sqft |
2018-11-01 | 0 days | 1,979 sqft |
2018-12-01 | 0 days | 1,975 sqft |
2019-01-01 | 0 days | 1,976 sqft |
2019-02-01 | 0 days | 1,937 sqft |
2019-03-01 | 0 days | 1,967 sqft |
2019-04-01 | 0 days | 1,983 sqft |
2019-05-01 | 0 days | 1,944 sqft |
2019-06-01 | 0 days | 1,980 sqft |
2019-07-01 | 0 days | 2,006 sqft |
2019-08-01 | 0 days | 2,014 sqft |
2019-09-01 | 0 days | 2,006 sqft |
2019-10-01 | 0 days | 2,009 sqft |
2019-11-01 | 0 days | 2,018 sqft |
2019-12-01 | 0 days | 2,026 sqft |
2020-01-01 | 0 days | 1,932 sqft |
2020-02-01 | 0 days | 2,000 sqft |
2020-03-01 | 0 days | 2,145 sqft |
2020-04-01 | 0 days | 2,038 sqft |
2020-05-01 | 0 days | 1,999 sqft |
2020-06-01 | 0 days | 1,972 sqft |
2020-07-01 | 0 days | 1,927 sqft |
2020-08-01 | 0 days | 1,957 sqft |
2020-09-01 | 0 days | 2,012 sqft |
2020-10-01 | 0 days | 2,064 sqft |
2020-11-01 | 0 days | 2,079 sqft |
2020-12-01 | 0 days | 2,112 sqft |
2021-01-01 | 0 days | 2,025 sqft |
2021-02-01 | 0 days | 2,012 sqft |
2021-03-01 | 0 days | 1,879 sqft |
2021-04-01 | 0 days | 1,875 sqft |
2021-05-01 | 0 days | 1,770 sqft |
2021-06-01 | 0 days | 1,904 sqft |
2021-07-01 | 0 days | 1,944 sqft |
2021-08-01 | 0 days | 1,948 sqft |
2021-09-01 | 0 days | 2,068 sqft |
2021-10-01 | 0 days | 1,964 sqft |
2021-11-01 | 0 days | 1,973 sqft |
2021-12-01 | 0 days | 1,942 sqft |
2022-01-01 | 0 days | 1,921 sqft |
2022-02-01 | 0 days | 1,882 sqft |
2022-03-01 | 0 days | 1,860 sqft |
2022-04-01 | 0 days | 1,811 sqft |
2022-05-01 | 0 days | 1,831 sqft |
2022-06-01 | 0 days | 1,900 sqft |
2022-07-01 | 0 days | 1,907 sqft |
2022-08-01 | 0 days | 2,044 sqft |
2022-09-01 | 0 days | 2,030 sqft |
2022-10-01 | 0 days | 2,028 sqft |
2022-11-01 | 0 days | 1,950 sqft |
2022-12-01 | 0 days | 1,925 sqft |
2023-01-01 | 0 days | 1,891 sqft |
2023-02-01 | 0 days | 1,927 sqft |
2023-03-01 | 0 days | 1,921 sqft |
2023-04-01 | 0 days | 1,947 sqft |
2023-05-01 | 0 days | 1,862 sqft |
2023-06-01 | 0 days | 1,806 sqft |
2023-07-01 | 0 days | 1,906 sqft |
2023-08-01 | 0 days | 1,900 sqft |
2023-09-01 | 0 days | 1,913 sqft |
2023-10-01 | 0 days | 1,879 sqft |
2023-11-01 | 0 days | 1,885 sqft |
2023-12-01 | 0 days | 1,872 sqft |
2024-01-01 | 0 days | 1,872 sqft |
2024-02-01 | 0 days | 1,881 sqft |
2024-03-01 | 0 days | 1,982 sqft |
2024-04-01 | 0 days | 1,945 sqft |
2024-05-01 | 0 days | 1,918 sqft |
2024-06-01 | 0 days | 2,000 sqft |
2024-07-01 | 0 days | 1,990 sqft |
2024-08-01 | 0 days | 2,000 sqft |
2024-09-01 | 0 days | 2,023 sqft |
2024-10-01 | 0 days | 1,979 sqft |
Laurel's median square footage for active listings during the 2024-10-01 period was 1,979 sqft. One year prior, the average listing was 1,879 sqft.