Lumberton FHA Loan Rates, Closing Costs & Stats

Lumberton, 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.

    Lumberton's 61 lenders originated 231 FHA loans during 2023. The total origination value was $42,985,000, with an average FHA loan value of $186,082.

    Lumberton FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lumberton averaged 6.38% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Lumberton's average FHA mortgage closing costs are $7,040.

    The average rate for the prior week (2024-12-06) was 6.25% and one month ago for the week of 2024-11-08, the average rate was 6.21%.

    The average rate one year ago was 6.92%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.28%.

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

    Lumberton 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 Lumberton level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 23 6.20% $9,618
    CARDINAL FINANCIAL 16 6.82% $11,805
    UNITED WHOLESALE MORTGAGE, LLC 12 6.63% $9,330
    CMG MORTGAGE, INC. 10 6.95% $10,764
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.89% $8,677
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 8 6.45% $9,914
    INTERCOASTAL MORTGAGE COMPANY 7 6.54% $8,493
    UNION HOME MORTGAGE CORP. 6 7.00% $7,742
    BROKER SOLUTIONS, INC. 6 6.65% $9,854
    CORNERSTONE HOME LENDING, INC. 6 6.60% $12,073
    1ST SIGNATURE LENDING, LLC 6 7.04% $13,050
    CROSSCOUNTRY MORTGAGE, LLC 5 6.90% $10,165
    Alcova Mortgage LLC 4 6.56% $8,827
    MID AMERICA MORTGAGE, INC. 4 7.47% $3,864
    MILEND, INC. 4 6.90% $12,740
    VANDERBILT MORTGAGE AND FINANCE, INC. 4 6.59% $9,841
    GoPrime Mortgage, Inc. 3 6.62% $7,757
    LOANDEPOT.COM, LLC 3 6.75% $7,162
    Nations Lending Corporation 3 6.71% $8,365
    FREEDOM MORTGAGE CORPORATION 3 6.88% $11,842
    SeaTrust Mortgage Company 3 6.92% $8,509
    Blue Ridge Bank 3 6.83% $6,131
    MOVEMENT MORTGAGE, LLC 2 6.94% $9,165
    American Mortgage & Equity Consultants, Inc. 2 7.25% $7,380
    AMERISAVE MORTGAGE CORPORATION 2 5.50% $10,621
    Carrington Mortgage Services, LLC 2 7.00% $8,290
    EMM LOANS LLC 2 6.31% $11,603
    FAIR WAY LENDING LLC 2 5.88% $11,081
    HOMESIDE FINANCIAL, LLC 2 6.75% $16,081
    Integrity Home Mortgage Corp 2 6.50% $8,179
    Mr. Cooper ( Nationstar Mortgage ) 2 6.25% $11,874
    ACADEMY MORTGAGE CORPORATION 1 7.25% $6,506
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.50% $8,521
    GUARANTEED RATE, INC. 1 7.50% $11,583
    First Horizon Bank 1 6.50% $10,818
    EVERETT FINANCIAL, INC. 1 7.63% $11,843
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.00% $10,692
    EQUITY RESOURCES, INC. 1 6.38% $8,872
    VILLAGE CAPITAL MORTGAGE 1 5.88% $7,840
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $16,127
    Equity Prime Mortgage LLC 1 7.13% $6,576
    NBKC BANK 1 7.00% $7,742
    NFM, INC. 1 6.25% $9,471
    OCMBC, INC. 1 7.25% $9,936
    Paramount Residential Mortgage Group, Inc. 1 6.13% $9,083
    PENNYMAC LOAN SERVICES, LLC 1 6.99% $8,625
    PLAZA HOME MORTGAGE, INC. 1 6.63% $13,920
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.13% $7,297
    CBM Mortgage, Inc. 1 7.25% $13,526
    RAPID MORTGAGE COMPANY 1 6.50% $7,272
    Regions Bank 1 5.75% $6,629
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.25% $12,186
    Sierra Pacific Mortgage Company, Inc. 1 5.50% $13,052
    SOUTHERN TRUST MORTGAGE, LLC 1 6.63% $7,351
    SOUTHWEST STAGE FUNDING, LLC 1 6.38% $5,255
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.50% $8,933
    TOP FLITE FINANCIAL, INC. 1 6.00% $7,516
    American Security Mortgage Corp. 1 8.13% $6,884
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.49% $6,003
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.75% $8,293
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.75% $18,592

    The top Lumberton FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 23 FHA loans originated. Their average total fees are $9,618, which is $2,186 lower than the next largest lender, CARDINAL FINANCIAL.

    The lowest fee Lumberton FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($9,330), QUICKEN LOANS, LLC ($9,618), CMG MORTGAGE, INC. ($10,764), CARDINAL FINANCIAL ($11,805) and .

    The lowest rate Lumberton FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.20%), UNITED WHOLESALE MORTGAGE, LLC (6.63%), CARDINAL FINANCIAL (6.82%), CMG MORTGAGE, INC. (6.95%) and .

    Lumberton FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lumberton (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 $119,900 (9.0%) $143,934 (-1.1%) 0.00 212
    2018-02-01 $111,175 (-5.0%) $144,463 (-1.4%) 0.00 217
    2018-03-01 $114,900 (-7.2%) $147,811 (0.1%) 0.00 214
    2018-04-01 $117,450 (-6.0%) $145,620 (-5.4%) 0.00 214
    2018-05-01 $115,975 (-3.3%) $148,373 (-2.3%) 0.00 236
    2018-06-01 $118,000 (-4.1%) $148,892 (-1.8%) 0.00 249
    2018-07-01 $110,500 (-14.7%) $146,291 (-5.1%) 0.00 239
    2018-08-01 $119,900 (-4.1%) $156,741 (3.7%) 0.00 239
    2018-09-01 $115,000 (-10.0%) $155,976 (4.3%) 0.00 233
    2018-10-01 $120,100 (-7.2%) $163,259 (9.2%) 0.00 226
    2018-11-01 $123,500 (-1.1%) $161,300 (7.5%) 0.00 223
    2018-12-01 $119,900 (0.0%) $158,122 (8.1%) 0.00 218
    2019-01-01 $116,700 (-2.7%) $156,807 (8.9%) 0.00 218
    2019-02-01 $114,950 (3.4%) $151,872 (5.1%) 0.00 218
    2019-03-01 $115,300 (0.4%) $152,465 (3.2%) 0.00 214
    2019-04-01 $115,775 (-1.4%) $157,300 (8.0%) 0.00 210
    2019-05-01 $119,225 (2.8%) $161,132 (8.6%) 0.00 219
    2019-06-01 $120,000 (1.7%) $154,546 (3.8%) 0.00 218
    2019-07-01 $121,700 (10.1%) $159,710 (9.2%) 0.00 229
    2019-08-01 $125,000 (4.3%) $158,167 (0.9%) 0.00 227
    2019-09-01 $125,000 (8.7%) $155,479 (-0.3%) 0.00 221
    2019-10-01 $125,000 (4.1%) $154,853 (-5.2%) 0.00 215
    2019-11-01 $124,250 (0.6%) $155,360 (-3.7%) 0.00 195
    2019-12-01 $119,950 (0.0%) $149,810 (-5.3%) 0.00 198
    2020-01-01 $119,975 (2.8%) $150,293 (-4.2%) 0.00 184
    2020-02-01 $110,000 (-4.3%) $144,929 (-4.6%) 0.00 182
    2020-03-01 $115,450 (0.1%) $149,376 (-2.0%) 0.00 181
    2020-04-01 $120,000 (3.7%) $155,270 (-1.3%) 0.00 164
    2020-05-01 $123,250 (3.4%) $158,051 (-1.9%) 0.00 141
    2020-06-01 $115,000 (-4.2%) $168,124 (8.8%) 0.00 135
    2020-07-01 $136,700 (12.3%) $181,180 (13.4%) 0.00 131
    2020-08-01 $147,000 (17.6%) $189,516 (19.8%) 0.00 111
    2020-09-01 $148,450 (18.8%) $186,335 (19.9%) 0.00 98
    2020-10-01 $145,950 (16.8%) $182,798 (18.1%) 0.00 94
    2020-11-01 $144,450 (16.3%) $193,246 (24.4%) 0.00 83
    2020-12-01 $149,175 (24.4%) $207,447 (38.5%) 0.00 86
    2021-01-01 $166,000 (38.4%) $226,841 (50.9%) 0.00 81
    2021-02-01 $148,475 (35.0%) $209,096 (44.3%) 0.00 83
    2021-03-01 $139,750 (21.1%) $200,415 (34.2%) 0.00 70
    2021-04-01 $131,945 (10.0%) $206,103 (32.7%) 0.00 59
    2021-05-01 $163,750 (32.9%) $231,337 (46.4%) 0.00 65
    2021-06-01 $172,500 (50.0%) $232,005 (38.0%) 0.00 67
    2021-07-01 $169,900 (24.3%) $240,175 (32.6%) 0.00 68
    2021-08-01 $175,000 (19.1%) $230,936 (21.9%) 0.00 71
    2021-09-01 $170,000 (14.5%) $223,764 (20.1%) 0.00 77
    2021-10-01 $160,000 (9.6%) $202,252 (10.6%) 0.00 72
    2021-11-01 $170,000 (17.7%) $204,222 (5.7%) 0.00 70
    2021-12-01 $175,000 (17.3%) $212,266 (2.3%) 0.00 64
    2022-01-01 $175,500 (5.7%) $205,826 (-9.3%) 0.00 52
    2022-02-01 $192,750 (29.8%) $199,494 (-4.6%) 0.00 59
    2022-03-01 $180,000 (28.8%) $195,014 (-2.7%) 0.00 54
    2022-04-01 $207,500 (57.3%) $223,519 (8.5%) 0.00 51
    2022-05-01 $218,000 (33.1%) $231,541 (0.1%) 0.00 60
    2022-06-01 $193,950 (12.4%) $223,129 (-3.8%) 0.00 80
    2022-07-01 $222,500 (31.0%) $237,677 (-1.0%) 0.00 95
    2022-08-01 $218,700 (25.0%) $232,681 (0.8%) 0.00 99
    2022-09-01 $220,000 (29.4%) $234,820 (4.9%) 0.00 107
    2022-10-01 $220,000 (37.5%) $239,104 (18.2%) 0.00 113
    2022-11-01 $244,750 (44.0%) $238,994 (17.0%) 0.00 121
    2022-12-01 $249,990 (42.9%) $259,635 (22.3%) 0.00 129
    2023-01-01 $252,490 (43.9%) $267,448 (29.9%) 0.00 118
    2023-02-01 $264,463 (37.2%) $282,308 (41.5%) 0.00 100
    2023-03-01 $257,950 (43.3%) $295,012 (51.3%) 0.00 78
    2023-04-01 $261,900 (26.2%) $283,544 (26.9%) 0.00 87
    2023-05-01 $259,925 (19.2%) $289,362 (25.0%) 0.00 89
    2023-06-01 $251,225 (29.5%) $278,496 (24.8%) 0.00 100
    2023-07-01 $254,900 (14.6%) $281,006 (18.2%) 0.00 109
    2023-08-01 $259,100 (18.5%) $275,639 (18.5%) 0.00 128
    2023-09-01 $259,900 (18.1%) $272,417 (16.0%) 0.00 116
    2023-10-01 $263,450 (19.8%) $287,807 (20.4%) 0.00 110
    2023-11-01 $263,025 (7.5%) $274,775 (15.0%) 0.00 128
    2023-12-01 $262,000 (4.8%) $296,069 (14.0%) 0.00 138
    2024-01-01 $250,825 (-0.7%) $292,101 (9.2%) 0.00 129
    2024-02-01 $247,450 (-6.4%) $285,379 (1.1%) 0.00 141
    2024-03-01 $249,450 (-3.3%) $284,769 (-3.5%) 0.00 147
    2024-04-01 $249,450 (-4.8%) $298,555 (5.3%) 0.00 124
    2024-05-01 $255,950 (-1.5%) $311,100 (7.5%) 0.00 127
    2024-06-01 $255,000 (1.5%) $291,868 (4.8%) 0.00 133
    2024-07-01 $267,000 (4.8%) $287,863 (2.4%) 0.00 134
    2024-08-01 $267,900 (3.4%) $281,797 (2.2%) 0.00 126
    2024-09-01 $258,000 (-0.7%) $270,542 (-0.7%) 0.00 143
    2024-10-01 $253,000 (-4.0%) $272,202 (-5.4%) 0.00 156
    2024-11-01 $249,900 (-5.0%) $264,674 (-3.7%) 0.00 166
    Lumberton's median listing price for 2024-11-01 was $249,900, a difference of $-13,125 (-5.0%) versus the prior year and $-3,100 versus the prior month.

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

    Lumberton's average listing price for 2024-11-01 was $264,674, a difference of $-10,101 (-3.7%) versus the prior year and $-7,528 versus the prior month.

    For the 2024-11-01 period, Lumberton had 166 MLS listings, a difference of 10 listings (6%) versus the prior month and 38 listings (30%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lumberton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,833 sqft
    2018-02-01 0 days 1,750 sqft
    2018-03-01 0 days 1,750 sqft
    2018-04-01 0 days 1,790 sqft
    2018-05-01 0 days 1,779 sqft
    2018-06-01 0 days 1,750 sqft
    2018-07-01 0 days 1,650 sqft
    2018-08-01 0 days 1,750 sqft
    2018-09-01 0 days 1,650 sqft
    2018-10-01 0 days 1,750 sqft
    2018-11-01 0 days 1,750 sqft
    2018-12-01 0 days 1,750 sqft
    2019-01-01 0 days 1,650 sqft
    2019-02-01 0 days 1,684 sqft
    2019-03-01 0 days 1,743 sqft
    2019-04-01 0 days 1,800 sqft
    2019-05-01 0 days 1,787 sqft
    2019-06-01 0 days 1,750 sqft
    2019-07-01 0 days 1,750 sqft
    2019-08-01 0 days 1,750 sqft
    2019-09-01 0 days 1,750 sqft
    2019-10-01 0 days 1,750 sqft
    2019-11-01 0 days 1,750 sqft
    2019-12-01 0 days 1,710 sqft
    2020-01-01 0 days 1,650 sqft
    2020-02-01 0 days 1,550 sqft
    2020-03-01 0 days 1,550 sqft
    2020-04-01 0 days 1,600 sqft
    2020-05-01 0 days 1,550 sqft
    2020-06-01 0 days 1,550 sqft
    2020-07-01 0 days 1,660 sqft
    2020-08-01 0 days 1,750 sqft
    2020-09-01 0 days 1,808 sqft
    2020-10-01 0 days 1,750 sqft
    2020-11-01 0 days 1,750 sqft
    2020-12-01 0 days 1,802 sqft
    2021-01-01 0 days 1,850 sqft
    2021-02-01 0 days 1,697 sqft
    2021-03-01 0 days 1,840 sqft
    2021-04-01 0 days 1,750 sqft
    2021-05-01 0 days 1,850 sqft
    2021-06-01 0 days 1,850 sqft
    2021-07-01 0 days 1,850 sqft
    2021-08-01 0 days 1,950 sqft
    2021-09-01 0 days 1,850 sqft
    2021-10-01 0 days 1,829 sqft
    2021-11-01 0 days 1,700 sqft
    2021-12-01 0 days 1,850 sqft
    2022-01-01 0 days 1,850 sqft
    2022-02-01 0 days 1,850 sqft
    2022-03-01 0 days 1,900 sqft
    2022-04-01 0 days 1,935 sqft
    2022-05-01 0 days 1,937 sqft
    2022-06-01 0 days 1,850 sqft
    2022-07-01 0 days 1,873 sqft
    2022-08-01 0 days 1,850 sqft
    2022-09-01 0 days 1,850 sqft
    2022-10-01 0 days 1,850 sqft
    2022-11-01 0 days 1,850 sqft
    2022-12-01 0 days 1,850 sqft
    2023-01-01 0 days 1,850 sqft
    2023-02-01 0 days 1,850 sqft
    2023-03-01 0 days 1,832 sqft
    2023-04-01 0 days 1,850 sqft
    2023-05-01 0 days 1,850 sqft
    2023-06-01 0 days 1,873 sqft
    2023-07-01 0 days 1,837 sqft
    2023-08-01 0 days 1,789 sqft
    2023-09-01 0 days 1,779 sqft
    2023-10-01 0 days 1,788 sqft
    2023-11-01 0 days 1,786 sqft
    2023-12-01 0 days 1,794 sqft
    2024-01-01 0 days 1,779 sqft
    2024-02-01 0 days 1,779 sqft
    2024-03-01 0 days 1,770 sqft
    2024-04-01 0 days 1,784 sqft
    2024-05-01 0 days 1,808 sqft
    2024-06-01 0 days 1,799 sqft
    2024-07-01 0 days 1,791 sqft
    2024-08-01 0 days 1,774 sqft
    2024-09-01 0 days 1,608 sqft
    2024-10-01 0 days 1,629 sqft
    2024-11-01 0 days 1,611 sqft
    Lumberton's median listing age (time on market) for 2024-11-01 was 0 days.

    Lumberton's median square footage for active listings during the 2024-11-01 period was 1,611 sqft. One year prior, the average listing was 1,786 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).