Laurinburg FHA Loan Rates, Closing Costs & Stats

Laurinburg, NC

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    • 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.

    Laurinburg's 31 lenders originated 84 FHA loans during 2024. The total origination value was $15,300,000, with an average FHA loan value of $182,143.

    Laurinburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Laurinburg averaged 6.45% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Laurinburg's average FHA mortgage closing costs are $6,856.

    The average rate for the prior week (2025-03-28) was 6.65% and one month ago for the week of 2025-02-28, the average rate was 6.54%.

    The average rate one year ago was 6.55%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.26%.

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

    Laurinburg 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 Laurinburg level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 14 6.59% $7,869
    Blue Ridge Bank 11 6.52% $8,306
    UNION HOME MORTGAGE CORP. 6 6.60% $8,325
    CROSSCOUNTRY MORTGAGE, LLC 3 6.33% $7,715
    INTERCOASTAL MORTGAGE COMPANY 3 6.25% $9,504
    UNITED WHOLESALE MORTGAGE, LLC 2 6.12% $9,701
    CMG MORTGAGE, INC. 2 6.25% $11,258
    VILLAGE CAPITAL MORTGAGE 2 6.50% $3,375
    GUARANTEED RATE, INC. 2 6.75% $9,674
    CARDINAL FINANCIAL 2 7.75% $15,724
    SOUTHERN TRUST MORTGAGE, LLC 2 6.44% $11,439
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.81% $8,569
    Mortgage Research Center, LLC 1 7.13% $4,828
    MOVEMENT MORTGAGE, LLC 1 6.75% $3,846
    NEWREZ LLC 1 5.75% $8,419
    PENNYMAC LOAN SERVICES, LLC 1 5.99% $16,047
    PLANET HOME LENDING, LLC 1 6.25% $4,300
    SeaTrust Mortgage Company 1 6.75% $8,603
    The Federal Savings Bank 1 6.63% $8,968
    GUILD MORTGAGE COMPANY 1 5.63% $6,665
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.63% $7,801
    AmeriHome Mortgage Company, LLC 1 7.13% $6,261
    BROKER SOLUTIONS, INC. 1 6.99% $10,829
    Carrington Mortgage Services, LLC 1 8.13% $6,466
    DELMAR FINANCIAL COMPANY 1 6.63% $6,573
    Equity Prime Mortgage LLC 1 7.25% $5,863
    First Reliance Bank 1 6.25% $7,294
    FREEDOM MORTGAGE CORPORATION 1 6.25% $4,866
    Alcova Mortgage LLC 1 6.50% $6,461
    Integrity Home Mortgage Corp 1 7.25% $6,162
    LOANDEPOT.COM, LLC 1 6.99% $10,176

    The top Laurinburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 14 FHA loans originated. Their average total fees are $7,869, which is $438 lower than the next largest lender, Blue Ridge Bank.

    The lowest fee Laurinburg FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($7,869), Blue Ridge Bank ($8,306), .

    The lowest rate Laurinburg FHA lenders (with over 10 loans originated) are Blue Ridge Bank (6.52%), QUICKEN LOANS, LLC (6.59%), .

    Laurinburg FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Laurinburg (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 $129,925 (16.6%) $160,767 (16.3%) 0.00 133
    2018-02-01 $128,575 (15.9%) $158,434 (15.4%) 0.00 129
    2018-03-01 $129,900 (14.4%) $156,404 (13.2%) 0.00 132
    2018-04-01 $129,900 (10.3%) $155,699 (8.1%) 0.00 138
    2018-05-01 $129,900 (6.7%) $159,912 (5.3%) 0.00 146
    2018-06-01 $128,450 (8.0%) $152,874 (2.2%) 0.00 154
    2018-07-01 $124,975 (-3.8%) $149,536 (-3.6%) 0.00 152
    2018-08-01 $121,175 (-7.7%) $145,176 (-8.9%) 0.00 154
    2018-09-01 $121,000 (-9.3%) $145,325 (-9.0%) 0.00 142
    2018-10-01 $114,975 (-16.5%) $140,482 (-15.2%) 0.00 127
    2018-11-01 $113,385 (-12.7%) $145,790 (-8.0%) 0.00 115
    2018-12-01 $113,250 (-9.4%) $148,847 (-3.4%) 0.00 107
    2019-01-01 $114,700 (-11.7%) $147,281 (-8.4%) 0.00 97
    2019-02-01 $117,350 (-8.7%) $148,135 (-6.5%) 0.00 101
    2019-03-01 $121,929 (-6.1%) $151,806 (-2.9%) 0.00 96
    2019-04-01 $124,529 (-4.1%) $154,048 (-1.1%) 0.00 97
    2019-05-01 $121,300 (-6.6%) $148,475 (-7.2%) 0.00 96
    2019-06-01 $125,000 (-2.7%) $159,083 (4.1%) 0.00 87
    2019-07-01 $134,875 (7.9%) $172,762 (15.5%) 0.00 80
    2019-08-01 $134,523 (11.0%) $168,370 (16.0%) 0.00 85
    2019-09-01 $133,807 (10.6%) $169,151 (16.4%) 0.00 92
    2019-10-01 $133,330 (16.0%) $169,671 (20.8%) 0.00 98
    2019-11-01 $130,000 (14.7%) $161,254 (10.6%) 0.00 90
    2019-12-01 $128,375 (13.4%) $148,139 (-0.5%) 0.00 82
    2020-01-01 $132,000 (15.1%) $148,755 (1.0%) 0.00 74
    2020-02-01 $129,900 (10.7%) $144,333 (-2.6%) 0.00 72
    2020-03-01 $111,000 (-9.0%) $139,093 (-8.4%) 0.00 68
    2020-04-01 $108,000 (-13.3%) $138,838 (-9.9%) 0.00 70
    2020-05-01 $111,500 (-8.1%) $137,785 (-7.2%) 0.00 59
    2020-06-01 $119,425 (-4.5%) $150,281 (-5.5%) 0.00 55
    2020-07-01 $139,925 (3.7%) $163,824 (-5.2%) 0.00 38
    2020-08-01 $149,900 (11.4%) $177,011 (5.1%) 0.00 39
    2020-09-01 $159,925 (19.5%) $191,717 (13.3%) 0.00 37
    2020-10-01 $192,400 (44.3%) $197,924 (16.7%) 0.00 37
    2020-11-01 $185,825 (42.9%) $194,140 (20.4%) 0.00 34
    2020-12-01 $173,650 (35.3%) $188,600 (27.3%) 0.00 40
    2021-01-01 $178,500 (35.2%) $194,124 (30.5%) 0.00 28
    2021-02-01 $132,425 (1.9%) $167,955 (16.4%) 0.00 18
    2021-03-01 $163,200 (47.0%) $188,149 (35.3%) 0.00 18
    2021-04-01 $184,450 (70.8%) $213,383 (53.7%) 0.00 21
    2021-05-01 $199,900 (79.3%) $232,284 (68.6%) 0.00 19
    2021-06-01 $184,250 (54.3%) $243,944 (62.3%) 0.00 20
    2021-07-01 $190,000 (35.8%) $216,342 (32.1%) 0.00 26
    2021-08-01 $189,600 (26.5%) $217,613 (22.9%) 0.00 40
    2021-09-01 $149,950 (-6.2%) $197,249 (2.9%) 0.00 38
    2021-10-01 $180,000 (-6.4%) $207,793 (5.0%) 0.00 36
    2021-11-01 $237,450 (27.8%) $235,379 (21.2%) 0.00 36
    2021-12-01 $219,975 (26.7%) $236,609 (25.5%) 0.00 29
    2022-01-01 $185,950 (4.2%) $235,445 (21.3%) 0.00 30
    2022-02-01 $160,100 (20.9%) $223,093 (32.8%) 0.00 25
    2022-03-01 $167,225 (2.5%) $239,130 (27.1%) 0.00 21
    2022-04-01 $145,700 (-21.0%) $229,580 (7.6%) 0.00 25
    2022-05-01 $203,000 (1.6%) $250,777 (8.0%) 0.00 34
    2022-06-01 $172,350 (-6.5%) $249,441 (2.3%) 0.00 35
    2022-07-01 $199,750 (5.1%) $234,825 (8.5%) 0.00 47
    2022-08-01 $198,950 (4.9%) $230,517 (5.9%) 0.00 42
    2022-09-01 $202,425 (35.0%) $228,272 (15.7%) 0.00 46
    2022-10-01 $194,950 (8.3%) $227,438 (9.5%) 0.00 44
    2022-11-01 $208,625 (-12.1%) $225,115 (-4.4%) 0.00 45
    2022-12-01 $229,900 (4.5%) $262,165 (10.8%) 0.00 43
    2023-01-01 $229,900 (23.6%) $254,752 (8.2%) 0.00 40
    2023-02-01 $221,125 (38.1%) $252,818 (13.3%) 0.00 38
    2023-03-01 $204,475 (22.3%) $249,700 (4.4%) 0.00 37
    2023-04-01 $209,450 (43.8%) $266,576 (16.1%) 0.00 30
    2023-05-01 $203,750 (0.4%) $250,279 (-0.2%) 0.00 30
    2023-06-01 $208,750 (21.1%) $244,620 (-1.9%) 0.00 32
    2023-07-01 $195,000 (-2.4%) $227,329 (-3.2%) 0.00 27
    2023-08-01 $202,475 (1.8%) $239,865 (4.1%) 0.00 31
    2023-09-01 $172,900 (-14.6%) $221,670 (-2.9%) 0.00 36
    2023-10-01 $189,950 (-2.6%) $249,984 (9.9%) 0.00 34
    2023-11-01 $188,725 (-9.5%) $255,812 (13.6%) 0.00 39
    2023-12-01 $179,000 (-22.1%) $267,229 (1.9%) 0.00 37
    2024-01-01 $177,925 (-22.6%) $258,806 (1.6%) 0.00 36
    2024-02-01 $201,425 (-8.9%) $273,551 (8.2%) 0.00 37
    2024-03-01 $214,950 (5.1%) $284,790 (14.1%) 0.00 35
    2024-04-01 $218,650 (4.4%) $281,074 (5.4%) 0.00 35
    2024-05-01 $200,673 (-1.5%) $269,478 (7.7%) 0.00 47
    2024-06-01 $199,950 (-4.2%) $268,507 (9.8%) 0.00 55
    2024-07-01 $209,995 (7.7%) $275,958 (21.4%) 0.00 55
    2024-08-01 $215,000 (6.2%) $268,356 (11.9%) 0.00 60
    2024-09-01 $211,250 (22.2%) $260,683 (17.6%) 0.00 62
    2024-10-01 $229,250 (20.7%) $250,988 (0.4%) 0.00 66
    2024-11-01 $232,000 (22.9%) $246,931 (-3.5%) 0.00 74
    2024-12-01 $222,500 (24.3%) $240,755 (-9.9%) 0.00 75
    2025-01-01 $222,450 (25.0%) $242,455 (-6.3%) 0.00 79
    2025-02-01 $218,675 (8.6%) $247,253 (-9.6%) 0.00 82
    2025-03-01 $203,995 (-5.1%) $241,464 (-15.2%) 0.00 74
    Laurinburg's median listing price for 2025-03-01 was $203,995, a difference of $-10,955 (-5.1%) versus the prior year and $-14,680 versus the prior month.

    Laurinburg's median listing price comes in at 0% of the national average.

    Laurinburg's average listing price for 2025-03-01 was $241,464, a difference of $-43,326 (-15.2%) versus the prior year and $-5,789 versus the prior month.

    For the 2025-03-01 period, Laurinburg had 74 MLS listings, a difference of -8 listings (-10%) versus the prior month and 39 listings (111%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Laurinburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,100 sqft
    2018-02-01 0 days 2,031 sqft
    2018-03-01 0 days 2,011 sqft
    2018-04-01 0 days 2,013 sqft
    2018-05-01 0 days 2,092 sqft
    2018-06-01 0 days 1,956 sqft
    2018-07-01 0 days 1,888 sqft
    2018-08-01 0 days 1,961 sqft
    2018-09-01 0 days 1,974 sqft
    2018-10-01 0 days 1,883 sqft
    2018-11-01 0 days 1,870 sqft
    2018-12-01 0 days 1,930 sqft
    2019-01-01 0 days 1,870 sqft
    2019-02-01 0 days 1,876 sqft
    2019-03-01 0 days 1,922 sqft
    2019-04-01 0 days 1,946 sqft
    2019-05-01 0 days 1,946 sqft
    2019-06-01 0 days 1,950 sqft
    2019-07-01 0 days 1,975 sqft
    2019-08-01 0 days 1,940 sqft
    2019-09-01 0 days 1,924 sqft
    2019-10-01 0 days 1,914 sqft
    2019-11-01 0 days 1,913 sqft
    2019-12-01 0 days 1,859 sqft
    2020-01-01 0 days 1,854 sqft
    2020-02-01 0 days 1,842 sqft
    2020-03-01 0 days 1,813 sqft
    2020-04-01 0 days 1,738 sqft
    2020-05-01 0 days 1,670 sqft
    2020-06-01 0 days 1,691 sqft
    2020-07-01 0 days 1,876 sqft
    2020-08-01 0 days 1,851 sqft
    2020-09-01 0 days 2,037 sqft
    2020-10-01 0 days 2,076 sqft
    2020-11-01 0 days 2,100 sqft
    2020-12-01 0 days 2,114 sqft
    2021-01-01 0 days 2,237 sqft
    2021-02-01 0 days 2,224 sqft
    2021-03-01 0 days 2,116 sqft
    2021-04-01 0 days 2,435 sqft
    2021-05-01 0 days 2,336 sqft
    2021-06-01 0 days 2,174 sqft
    2021-07-01 0 days 2,137 sqft
    2021-08-01 0 days 1,995 sqft
    2021-09-01 0 days 1,925 sqft
    2021-10-01 0 days 2,100 sqft
    2021-11-01 0 days 2,100 sqft
    2021-12-01 0 days 1,918 sqft
    2022-01-01 0 days 2,027 sqft
    2022-02-01 0 days 2,003 sqft
    2022-03-01 0 days 1,920 sqft
    2022-04-01 0 days 2,005 sqft
    2022-05-01 0 days 2,113 sqft
    2022-06-01 0 days 1,959 sqft
    2022-07-01 0 days 1,950 sqft
    2022-08-01 0 days 1,943 sqft
    2022-09-01 0 days 1,950 sqft
    2022-10-01 0 days 1,950 sqft
    2022-11-01 0 days 1,950 sqft
    2022-12-01 0 days 2,088 sqft
    2023-01-01 0 days 2,060 sqft
    2023-02-01 0 days 2,055 sqft
    2023-03-01 0 days 2,029 sqft
    2023-04-01 0 days 2,039 sqft
    2023-05-01 0 days 2,044 sqft
    2023-06-01 0 days 2,054 sqft
    2023-07-01 0 days 1,988 sqft
    2023-08-01 0 days 1,886 sqft
    2023-09-01 0 days 1,813 sqft
    2023-10-01 0 days 1,983 sqft
    2023-11-01 0 days 1,820 sqft
    2023-12-01 0 days 1,828 sqft
    2024-01-01 0 days 1,845 sqft
    2024-02-01 0 days 1,963 sqft
    2024-03-01 0 days 1,993 sqft
    2024-04-01 0 days 1,861 sqft
    2024-05-01 0 days 1,762 sqft
    2024-06-01 0 days 1,604 sqft
    2024-07-01 0 days 1,653 sqft
    2024-08-01 0 days 1,608 sqft
    2024-09-01 0 days 1,701 sqft
    2024-10-01 0 days 1,805 sqft
    2024-11-01 0 days 1,776 sqft
    2024-12-01 0 days 1,722 sqft
    2025-01-01 0 days 1,720 sqft
    2025-02-01 0 days 1,813 sqft
    2025-03-01 0 days 1,715 sqft
    Laurinburg's median listing age (time on market) for 2025-03-01 was 0 days.

    Laurinburg's median square footage for active listings during the 2025-03-01 period was 1,715 sqft. One year prior, the average listing was 1,993 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).