Magnolia FHA Loan Rates, Closing Costs & Stats
Magnolia, AR
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.
Magnolia's 16 lenders originated 30 FHA loans during 2023. The total origination value was $4,720,000, with an average FHA loan value of $157,333.
Magnolia FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Magnolia
averaged
0.25%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Magnolia's average FHA mortgage closing costs are $6,075.
The average rate for the prior week (2024-11-22) was
6.64% and
one month ago for the week of 2024-10-25, the
average rate was 6.52%.
The average rate one year ago was 7.11%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.2%.
Magnolia 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 Magnolia level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
QUICKEN LOANS, LLC | 8 | 6.08% | $8,101 |
EVERETT FINANCIAL, INC. | 3 | 6.88% | $5,613 |
UNITED WHOLESALE MORTGAGE, LLC | 2 | 7.83% | $7,812 |
BROKER SOLUTIONS, INC. | 1 | 6.25% | $11,011 |
CROSSCOUNTRY MORTGAGE, LLC | 1 | 7.25% | $13,027 |
Farmers Bank & Trust Company | 1 | 6.63% | $4,752 |
First Financial Bank | 1 | 6.88% | $4,270 |
FirstTrust Home Loans, Inc. | 1 | 7.13% | $10,901 |
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. | 1 | 6.63% | $10,630 |
HOMESTAR FINANCIAL CORPORATION | 1 | 7.25% | $3,218 |
LIBERTY HOME MORTGAGE CORPORATION | 1 | 7.00% | $13,485 |
NEWREZ LLC | 1 | 5.75% | $7,039 |
AMERICAN PACIFIC MORTGAGE CORPORATION | 1 | 8.13% | $6,552 |
Wells Fargo Bank | 1 | 6.00% | $6,916 |
BancorpSouth | 1 | 5.75% | $10,313 |
Bank of England | 1 | 6.75% | $9,536 |
The top Magnolia FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
8 FHA loans originated. Their average total fees are
$8,101, which is $2,487
higher than the next largest lender,
EVERETT FINANCIAL, INC..
The lowest fee Magnolia FHA lenders (with over 10 loans originated) are
.
The lowest rate Magnolia FHA lenders (with over 10 loans originated) are
.
Magnolia FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
MAGNOLIA, AR | COLUMBIA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
MAGNOLIA, AR | COLUMBIA | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Magnolia (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 | $119,900 (1.4%) | $141,325 (-11.6%) | 0.00 | 139 |
2018-02-01 | $115,000 (-1.7%) | $139,149 (-10.6%) | 0.00 | 136 |
2018-03-01 | $120,000 (3.5%) | $137,608 (-13.0%) | 0.00 | 129 |
2018-04-01 | $143,450 (22.6%) | $149,074 (-3.8%) | 0.00 | 128 |
2018-05-01 | $149,450 (24.7%) | $155,873 (0.2%) | 0.00 | 126 |
2018-06-01 | $137,400 (6.8%) | $148,124 (-2.9%) | 0.00 | 127 |
2018-07-01 | $127,450 (-8.6%) | $141,064 (-9.4%) | 0.00 | 107 |
2018-08-01 | $132,425 (-3.5%) | $145,605 (-4.9%) | 0.00 | 107 |
2018-09-01 | $129,900 (-6.6%) | $145,944 (-7.0%) | 0.00 | 108 |
2018-10-01 | $135,000 (3.9%) | $149,079 (-2.0%) | 0.00 | 118 |
2018-11-01 | $141,225 (8.7%) | $152,515 (0.3%) | 0.00 | 114 |
2018-12-01 | $149,000 (16.9%) | $155,058 (4.8%) | 0.00 | 117 |
2019-01-01 | $149,675 (24.8%) | $156,941 (11.1%) | 0.00 | 112 |
2019-02-01 | $149,675 (30.2%) | $153,520 (10.3%) | 0.00 | 114 |
2019-03-01 | $147,607 (23.0%) | $156,015 (13.4%) | 0.00 | 109 |
2019-04-01 | $145,982 (1.8%) | $161,120 (8.1%) | 0.00 | 107 |
2019-05-01 | $149,450 (0.0%) | $161,723 (3.8%) | 0.00 | 112 |
2019-06-01 | $148,000 (7.7%) | $162,372 (9.6%) | 0.00 | 121 |
2019-07-01 | $139,700 (9.6%) | $159,291 (12.9%) | 0.00 | 132 |
2019-08-01 | $139,609 (5.4%) | $161,786 (11.1%) | 0.00 | 129 |
2019-09-01 | $139,773 (7.6%) | $165,859 (13.7%) | 0.00 | 126 |
2019-10-01 | $139,900 (3.6%) | $169,401 (13.6%) | 0.00 | 124 |
2019-11-01 | $144,900 (2.6%) | $174,550 (14.5%) | 0.00 | 112 |
2019-12-01 | $145,200 (-2.6%) | $172,731 (11.4%) | 0.00 | 112 |
2020-01-01 | $152,000 (1.6%) | $179,419 (14.3%) | 0.00 | 107 |
2020-02-01 | $149,000 (-0.5%) | $178,006 (16.0%) | 0.00 | 115 |
2020-03-01 | $146,375 (-0.8%) | $179,780 (15.2%) | 0.00 | 114 |
2020-04-01 | $152,400 (4.4%) | $185,275 (15.0%) | 0.00 | 111 |
2020-05-01 | $175,000 (17.1%) | $192,501 (19.0%) | 0.00 | 110 |
2020-06-01 | $167,850 (13.4%) | $191,094 (17.7%) | 0.00 | 103 |
2020-07-01 | $159,875 (14.4%) | $186,519 (17.1%) | 0.00 | 96 |
2020-08-01 | $169,900 (21.7%) | $191,357 (18.3%) | 0.00 | 86 |
2020-09-01 | $169,750 (21.5%) | $191,854 (15.7%) | 0.00 | 75 |
2020-10-01 | $169,000 (20.8%) | $184,401 (8.9%) | 0.00 | 79 |
2020-11-01 | $169,000 (16.6%) | $183,389 (5.1%) | 0.00 | 79 |
2020-12-01 | $159,750 (10.0%) | $174,849 (1.2%) | 0.00 | 78 |
2021-01-01 | $157,000 (3.3%) | $167,751 (-6.5%) | 0.00 | 71 |
2021-02-01 | $157,000 (5.4%) | $171,157 (-3.9%) | 0.00 | 66 |
2021-03-01 | $147,200 (0.6%) | $166,123 (-7.6%) | 0.00 | 54 |
2021-04-01 | $138,450 (-9.2%) | $159,636 (-13.8%) | 0.00 | 48 |
2021-05-01 | $138,700 (-20.7%) | $156,617 (-18.6%) | 0.00 | 40 |
2021-06-01 | $139,900 (-16.7%) | $160,709 (-15.9%) | 0.00 | 41 |
2021-07-01 | $132,500 (-17.1%) | $164,740 (-11.7%) | 0.00 | 42 |
2021-08-01 | $127,500 (-25.0%) | $171,286 (-10.5%) | 0.00 | 44 |
2021-09-01 | $141,225 (-16.8%) | $191,939 (0.0%) | 0.00 | 43 |
2021-10-01 | $150,000 (-11.2%) | $196,182 (6.4%) | 0.00 | 39 |
2021-11-01 | $163,500 (-3.3%) | $210,218 (14.6%) | 0.00 | 36 |
2021-12-01 | $203,750 (27.5%) | $217,092 (24.2%) | 0.00 | 38 |
2022-01-01 | $180,000 (14.7%) | $208,824 (24.5%) | 0.00 | 37 |
2022-02-01 | $175,000 (11.5%) | $194,586 (13.7%) | 0.00 | 33 |
2022-03-01 | $211,150 (43.4%) | $210,752 (26.9%) | 0.00 | 32 |
2022-04-01 | $177,500 (28.2%) | $201,612 (26.3%) | 0.00 | 35 |
2022-05-01 | $219,950 (58.6%) | $214,991 (37.3%) | 0.00 | 34 |
2022-06-01 | $177,450 (26.8%) | $205,970 (28.2%) | 0.00 | 43 |
2022-07-01 | $185,000 (39.6%) | $214,593 (30.3%) | 0.00 | 46 |
2022-08-01 | $171,250 (34.3%) | $198,083 (15.6%) | 0.00 | 44 |
2022-09-01 | $190,000 (34.5%) | $223,027 (16.2%) | 0.00 | 41 |
2022-10-01 | $195,000 (30.0%) | $216,839 (10.5%) | 0.00 | 49 |
2022-11-01 | $198,000 (21.1%) | $225,364 (7.2%) | 0.00 | 53 |
2022-12-01 | $199,000 (-2.3%) | $219,783 (1.2%) | 0.00 | 55 |
2023-01-01 | $185,000 (2.8%) | $210,622 (0.9%) | 0.00 | 53 |
2023-02-01 | $185,000 (5.7%) | $223,008 (14.6%) | 0.00 | 54 |
2023-03-01 | $164,950 (-21.9%) | $208,119 (-1.3%) | 0.00 | 54 |
2023-04-01 | $159,900 (-9.9%) | $198,211 (-1.7%) | 0.00 | 62 |
2023-05-01 | $187,450 (-14.8%) | $229,596 (6.8%) | 0.00 | 63 |
2023-06-01 | $205,725 (15.9%) | $247,945 (20.4%) | 0.00 | 58 |
2023-07-01 | $215,000 (16.2%) | $250,896 (16.9%) | 0.00 | 57 |
2023-08-01 | $220,750 (28.9%) | $254,379 (28.4%) | 0.00 | 61 |
2023-09-01 | $219,900 (15.7%) | $263,358 (18.1%) | 0.00 | 71 |
2023-10-01 | $219,975 (12.8%) | $268,725 (23.9%) | 0.00 | 87 |
2023-11-01 | $219,450 (10.8%) | $261,728 (16.1%) | 0.00 | 68 |
2023-12-01 | $210,000 (5.5%) | $251,880 (14.6%) | 0.00 | 62 |
2024-01-01 | $194,675 (5.2%) | $244,984 (16.3%) | 0.00 | 58 |
2024-02-01 | $202,200 (9.3%) | $254,296 (14.0%) | 0.00 | 56 |
2024-03-01 | $195,250 (18.4%) | $220,373 (5.9%) | 0.00 | 66 |
2024-04-01 | $197,675 (23.6%) | $231,497 (16.8%) | 0.00 | 66 |
2024-05-01 | $199,950 (6.7%) | $275,182 (19.9%) | 0.00 | 62 |
2024-06-01 | $209,500 (1.8%) | $277,723 (12.0%) | 0.00 | 58 |
2024-07-01 | $202,750 (-5.7%) | $273,232 (8.9%) | 0.00 | 61 |
2024-08-01 | $225,000 (1.9%) | $297,358 (16.9%) | 0.00 | 74 |
2024-09-01 | $233,900 (6.4%) | $305,273 (15.9%) | 0.00 | 70 |
2024-10-01 | $244,900 (11.3%) | $304,790 (13.4%) | 0.00 | 68 |
Magnolia's median listing price comes in at 0% of the national average.
Magnolia's average listing price for 2024-10-01 was $304,790, a difference of $36,065 (13.4%) versus the prior year and $-483 versus the prior month.
For the 2024-10-01 period, Magnolia had 68 MLS listings, a difference of -2 listings (-3%) versus the prior month and -19 listings (-22%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Magnolia (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,730 sqft |
2018-02-01 | 0 days | 1,730 sqft |
2018-03-01 | 0 days | 1,739 sqft |
2018-04-01 | 0 days | 1,974 sqft |
2018-05-01 | 0 days | 2,078 sqft |
2018-06-01 | 0 days | 2,189 sqft |
2018-07-01 | 0 days | 2,149 sqft |
2018-08-01 | 0 days | 2,189 sqft |
2018-09-01 | 0 days | 2,149 sqft |
2018-10-01 | 0 days | 2,033 sqft |
2018-11-01 | 0 days | 1,884 sqft |
2018-12-01 | 0 days | 1,738 sqft |
2019-01-01 | 0 days | 1,738 sqft |
2019-02-01 | 0 days | 1,752 sqft |
2019-03-01 | 0 days | 1,723 sqft |
2019-04-01 | 0 days | 1,758 sqft |
2019-05-01 | 0 days | 1,841 sqft |
2019-06-01 | 0 days | 2,000 sqft |
2019-07-01 | 0 days | 1,839 sqft |
2019-08-01 | 0 days | 1,951 sqft |
2019-09-01 | 0 days | 2,062 sqft |
2019-10-01 | 0 days | 2,135 sqft |
2019-11-01 | 0 days | 2,086 sqft |
2019-12-01 | 0 days | 2,044 sqft |
2020-01-01 | 0 days | 1,950 sqft |
2020-02-01 | 0 days | 1,950 sqft |
2020-03-01 | 0 days | 1,962 sqft |
2020-04-01 | 0 days | 1,999 sqft |
2020-05-01 | 0 days | 2,019 sqft |
2020-06-01 | 0 days | 2,040 sqft |
2020-07-01 | 0 days | 2,040 sqft |
2020-08-01 | 0 days | 2,062 sqft |
2020-09-01 | 0 days | 2,128 sqft |
2020-10-01 | 0 days | 2,128 sqft |
2020-11-01 | 0 days | 2,013 sqft |
2020-12-01 | 0 days | 2,013 sqft |
2021-01-01 | 0 days | 2,062 sqft |
2021-02-01 | 0 days | 1,866 sqft |
2021-03-01 | 0 days | 2,010 sqft |
2021-04-01 | 0 days | 1,915 sqft |
2021-05-01 | 0 days | 2,338 sqft |
2021-06-01 | 0 days | 2,315 sqft |
2021-07-01 | 0 days | 1,971 sqft |
2021-08-01 | 0 days | 1,956 sqft |
2021-09-01 | 0 days | 2,062 sqft |
2021-10-01 | 0 days | 1,894 sqft |
2021-11-01 | 0 days | 1,905 sqft |
2021-12-01 | 0 days | 1,902 sqft |
2022-01-01 | 0 days | 1,896 sqft |
2022-02-01 | 0 days | 1,834 sqft |
2022-03-01 | 0 days | 1,834 sqft |
2022-04-01 | 0 days | 1,820 sqft |
2022-05-01 | 0 days | 1,917 sqft |
2022-06-01 | 0 days | 1,825 sqft |
2022-07-01 | 0 days | 1,968 sqft |
2022-08-01 | 0 days | 1,927 sqft |
2022-09-01 | 0 days | 2,096 sqft |
2022-10-01 | 0 days | 2,039 sqft |
2022-11-01 | 0 days | 2,009 sqft |
2022-12-01 | 0 days | 1,903 sqft |
2023-01-01 | 0 days | 1,872 sqft |
2023-02-01 | 0 days | 1,936 sqft |
2023-03-01 | 0 days | 1,933 sqft |
2023-04-01 | 0 days | 1,860 sqft |
2023-05-01 | 0 days | 1,928 sqft |
2023-06-01 | 0 days | 1,967 sqft |
2023-07-01 | 0 days | 1,963 sqft |
2023-08-01 | 0 days | 1,956 sqft |
2023-09-01 | 0 days | 1,934 sqft |
2023-10-01 | 0 days | 1,971 sqft |
2023-11-01 | 0 days | 1,983 sqft |
2023-12-01 | 0 days | 1,989 sqft |
2024-01-01 | 0 days | 1,997 sqft |
2024-02-01 | 0 days | 2,108 sqft |
2024-03-01 | 0 days | 1,955 sqft |
2024-04-01 | 0 days | 2,048 sqft |
2024-05-01 | 0 days | 2,064 sqft |
2024-06-01 | 0 days | 2,061 sqft |
2024-07-01 | 0 days | 1,985 sqft |
2024-08-01 | 0 days | 2,010 sqft |
2024-09-01 | 0 days | 2,134 sqft |
2024-10-01 | 0 days | 2,074 sqft |
Magnolia's median square footage for active listings during the 2024-10-01 period was 2,074 sqft. One year prior, the average listing was 1,971 sqft.