Malvern FHA Loan Rates, Closing Costs & Stats

Malvern, AR

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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.

    Malvern's 39 lenders originated 86 FHA loans during 2023. The total origination value was $14,030,000, with an average FHA loan value of $163,140.

    Malvern FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Malvern averaged 0.18% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Malvern's average FHA mortgage closing costs are $5,626.

    The average rate for the prior week (2024-11-08) was 6.58% and one month ago for the week of 2024-10-11, the average rate was 6.39%.

    The average rate one year ago was 7.43%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.1%.

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

    Malvern 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 Malvern level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 12 6.61% $8,081
    GMFS LLC 7 6.52% $6,087
    FirstTrust Home Loans, Inc. 6 6.79% $9,562
    SWBC MORTGAGE CORPORATION 4 6.78% $7,458
    Eagle Bank and Trust Company 3 6.13% $6,183
    HOMESIDE FINANCIAL, LLC 3 7.08% $5,694
    Bank of England 3 6.79% $7,115
    Arvest Bank 3 6.33% $6,585
    ENDEAVOR CAPITAL, LLC. 2 6.50% $9,751
    Paramount Residential Mortgage Group, Inc. 2 5.94% $6,552
    COMMUNITY MORTGAGE CORPORATION 2 6.13% $6,605
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 7.13% $4,591
    EUSTIS AND AMERICAN MORTGAGE COMPANY 2 6.56% $8,859
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.12% $8,412
    HOMESPIRE MORTGAGE CORPORATION 1 6.50% $11,698
    MORTGAGE INVESTORS GROUP, INC. 1 6.63% $5,668
    NEWREZ LLC 1 5.25% $10,969
    NFM, INC. 1 6.63% $7,109
    PENNYMAC LOAN SERVICES, LLC 1 7.25% $5,253
    Simmons Bank 1 6.38% $4,510
    STOCKTON MORTGAGE CORPORATION 1 6.75% $14,453
    TOP FLITE FINANCIAL, INC. 1 7.25% $6,363
    UNION HOME MORTGAGE CORP. 1 6.38% $8,403
    UNITED WHOLESALE MORTGAGE, LLC 1 6.88% $5,621
    U.S. Bank 1 7.75% $3,610
    AMERISAVE MORTGAGE CORPORATION 1 6.00% $9,396
    Wyndham Capital Mortgage, Inc. 1 6.88% $6,033
    BancorpSouth 1 6.50% $5,773
    BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 6.13% $9,515
    BROKER SOLUTIONS, INC. 1 7.25% $12,870
    CARDINAL FINANCIAL 1 7.25% $10,187
    Carrington Mortgage Services, LLC 1 6.13% $6,317
    CORNERSTONE HOME LENDING, INC. 1 7.49% $7,868
    EVERETT FINANCIAL, INC. 1 8.25% $10,636
    Farmers Bank & Trust Company 1 6.75% $9,671
    Flagstar Bank, FSB 1 6.24% $6,177
    FLAT BRANCH MORTGAGE, INC. 1 7.13% $6,548
    Gateway First Bank 1 6.63% $6,412
    GSF Mortgage Corporation 1 6.13% $20,996

    The top Malvern FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 12 FHA loans originated. Their average total fees are $8,081, which is $1,994 higher than the next largest lender, GMFS LLC.

    The lowest fee Malvern FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,081), .

    The lowest rate Malvern FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.61%), .

    Malvern FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Malvern (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 $127,750 (11.9%) $160,553 (9.9%) 0.00 127
    2018-02-01 $128,475 (17.7%) $167,116 (13.6%) 0.00 130
    2018-03-01 $129,900 (25.2%) $165,507 (14.1%) 0.00 110
    2018-04-01 $135,900 (27.1%) $183,667 (23.5%) 0.00 111
    2018-05-01 $131,200 (14.4%) $183,052 (23.8%) 0.00 113
    2018-06-01 $129,900 (7.2%) $180,262 (18.3%) 0.00 122
    2018-07-01 $136,625 (5.1%) $178,075 (14.8%) 0.00 119
    2018-08-01 $149,250 (8.6%) $167,750 (5.0%) 0.00 113
    2018-09-01 $149,950 (7.5%) $169,621 (5.5%) 0.00 111
    2018-10-01 $144,950 (4.1%) $167,376 (-0.3%) 0.00 118
    2018-11-01 $129,225 (-6.3%) $148,947 (-9.9%) 0.00 116
    2018-12-01 $129,175 (-0.6%) $146,703 (-7.9%) 0.00 105
    2019-01-01 $130,825 (2.4%) $145,009 (-9.7%) 0.00 100
    2019-02-01 $140,219 (9.1%) $156,350 (-6.4%) 0.00 91
    2019-03-01 $120,264 (-7.4%) $149,500 (-9.7%) 0.00 92
    2019-04-01 $113,739 (-16.3%) $145,856 (-20.6%) 0.00 91
    2019-05-01 $140,200 (6.9%) $163,050 (-10.9%) 0.00 86
    2019-06-01 $155,500 (19.7%) $171,977 (-4.6%) 0.00 88
    2019-07-01 $150,750 (10.3%) $175,427 (-1.5%) 0.00 82
    2019-08-01 $152,916 (2.5%) $173,821 (3.6%) 0.00 83
    2019-09-01 $154,665 (3.1%) $173,576 (2.3%) 0.00 87
    2019-10-01 $155,268 (7.1%) $173,413 (3.6%) 0.00 88
    2019-11-01 $159,000 (23.0%) $186,126 (25.0%) 0.00 83
    2019-12-01 $157,225 (21.7%) $192,481 (31.2%) 0.00 89
    2020-01-01 $159,700 (22.1%) $198,634 (37.0%) 0.00 91
    2020-02-01 $160,000 (14.1%) $209,419 (33.9%) 0.00 93
    2020-03-01 $192,000 (59.7%) $220,828 (47.7%) 0.00 88
    2020-04-01 $198,750 (74.7%) $232,593 (59.5%) 0.00 80
    2020-05-01 $192,450 (37.3%) $235,962 (44.7%) 0.00 71
    2020-06-01 $190,725 (22.7%) $252,992 (47.1%) 0.00 62
    2020-07-01 $193,625 (28.4%) $250,896 (43.0%) 0.00 64
    2020-08-01 $199,000 (30.1%) $271,253 (56.1%) 0.00 60
    2020-09-01 $164,725 (6.5%) $261,606 (50.7%) 0.00 59
    2020-10-01 $175,000 (12.7%) $256,881 (48.1%) 0.00 53
    2020-11-01 $159,450 (0.3%) $242,706 (30.4%) 0.00 58
    2020-12-01 $141,725 (-9.9%) $245,594 (27.6%) 0.00 61
    2021-01-01 $157,500 (-1.4%) $248,328 (25.0%) 0.00 55
    2021-02-01 $136,750 (-14.5%) $257,076 (22.8%) 0.00 46
    2021-03-01 $166,375 (-13.4%) $297,483 (34.7%) 0.00 44
    2021-04-01 $159,175 (-19.9%) $274,004 (17.8%) 0.00 42
    2021-05-01 $165,000 (-14.3%) $294,311 (24.7%) 0.00 40
    2021-06-01 $175,920 (-7.8%) $305,685 (20.8%) 0.00 39
    2021-07-01 $182,450 (-5.8%) $289,390 (15.3%) 0.00 46
    2021-08-01 $173,650 (-12.7%) $212,336 (-21.7%) 0.00 54
    2021-09-01 $176,975 (7.4%) $245,520 (-6.2%) 0.00 47
    2021-10-01 $179,900 (2.8%) $261,411 (1.8%) 0.00 52
    2021-11-01 $211,238 (32.5%) $295,354 (21.7%) 0.00 46
    2021-12-01 $221,250 (56.1%) $312,129 (27.1%) 0.00 44
    2022-01-01 $225,000 (42.9%) $309,531 (24.7%) 0.00 37
    2022-02-01 $198,000 (44.8%) $294,419 (14.5%) 0.00 44
    2022-03-01 $182,000 (9.4%) $262,719 (-11.7%) 0.00 39
    2022-04-01 $164,950 (3.6%) $236,685 (-13.6%) 0.00 43
    2022-05-01 $177,250 (7.4%) $258,894 (-12.0%) 0.00 53
    2022-06-01 $190,250 (8.2%) $284,905 (-6.8%) 0.00 48
    2022-07-01 $192,000 (5.2%) $267,162 (-7.7%) 0.00 59
    2022-08-01 $192,500 (10.9%) $261,704 (23.3%) 0.00 64
    2022-09-01 $189,500 (7.1%) $281,443 (14.6%) 0.00 58
    2022-10-01 $189,000 (5.1%) $299,001 (14.4%) 0.00 57
    2022-11-01 $173,450 (-17.9%) $255,912 (-13.4%) 0.00 77
    2022-12-01 $169,950 (-23.2%) $248,223 (-20.5%) 0.00 69
    2023-01-01 $172,450 (-23.4%) $241,589 (-22.0%) 0.00 57
    2023-02-01 $176,000 (-11.1%) $237,855 (-19.2%) 0.00 55
    2023-03-01 $182,225 (0.1%) $269,802 (2.7%) 0.00 46
    2023-04-01 $197,000 (19.4%) $284,930 (20.4%) 0.00 44
    2023-05-01 $243,750 (37.5%) $325,403 (25.7%) 0.00 47
    2023-06-01 $236,225 (24.2%) $336,955 (18.3%) 0.00 48
    2023-07-01 $232,450 (21.1%) $310,958 (16.4%) 0.00 53
    2023-08-01 $217,000 (12.7%) $274,322 (4.8%) 0.00 56
    2023-09-01 $201,000 (6.1%) $258,621 (-8.1%) 0.00 58
    2023-10-01 $212,725 (12.6%) $250,842 (-16.1%) 0.00 57
    2023-11-01 $198,000 (14.2%) $236,631 (-7.5%) 0.00 61
    2023-12-01 $199,000 (17.1%) $248,743 (0.2%) 0.00 54
    2024-01-01 $219,725 (27.4%) $258,559 (7.0%) 0.00 55
    2024-02-01 $207,450 (17.9%) $248,633 (4.5%) 0.00 60
    2024-03-01 $210,000 (15.2%) $245,308 (-9.1%) 0.00 60
    2024-04-01 $198,750 (0.9%) $235,804 (-17.2%) 0.00 61
    2024-05-01 $201,225 (-17.5%) $231,767 (-28.8%) 0.00 63
    2024-06-01 $229,250 (-3.0%) $310,973 (-7.7%) 0.00 64
    2024-07-01 $234,975 (1.1%) $334,809 (7.7%) 0.00 77
    2024-08-01 $239,500 (10.4%) $329,672 (20.2%) 0.00 84
    2024-09-01 $230,000 (14.4%) $314,616 (21.7%) 0.00 99
    2024-10-01 $250,750 (17.9%) $334,533 (33.4%) 0.00 94
    Malvern's median listing price for 2024-10-01 was $250,750, a difference of $38,025 (17.9%) versus the prior year and $20,750 versus the prior month.

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

    Malvern's average listing price for 2024-10-01 was $334,533, a difference of $83,691 (33.4%) versus the prior year and $19,917 versus the prior month.

    For the 2024-10-01 period, Malvern had 94 MLS listings, a difference of -5 listings (-5%) versus the prior month and 37 listings (65%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Malvern (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,574 sqft
    2018-02-01 0 days 1,566 sqft
    2018-03-01 0 days 1,570 sqft
    2018-04-01 0 days 1,689 sqft
    2018-05-01 0 days 1,683 sqft
    2018-06-01 0 days 1,771 sqft
    2018-07-01 0 days 1,775 sqft
    2018-08-01 0 days 1,760 sqft
    2018-09-01 0 days 1,770 sqft
    2018-10-01 0 days 1,747 sqft
    2018-11-01 0 days 1,752 sqft
    2018-12-01 0 days 1,681 sqft
    2019-01-01 0 days 1,655 sqft
    2019-02-01 0 days 1,680 sqft
    2019-03-01 0 days 1,605 sqft
    2019-04-01 0 days 1,586 sqft
    2019-05-01 0 days 1,678 sqft
    2019-06-01 0 days 1,681 sqft
    2019-07-01 0 days 1,710 sqft
    2019-08-01 0 days 1,664 sqft
    2019-09-01 0 days 1,664 sqft
    2019-10-01 0 days 1,664 sqft
    2019-11-01 0 days 1,727 sqft
    2019-12-01 0 days 1,699 sqft
    2020-01-01 0 days 1,746 sqft
    2020-02-01 0 days 1,756 sqft
    2020-03-01 0 days 1,811 sqft
    2020-04-01 0 days 1,811 sqft
    2020-05-01 0 days 1,844 sqft
    2020-06-01 0 days 1,821 sqft
    2020-07-01 0 days 1,820 sqft
    2020-08-01 0 days 1,916 sqft
    2020-09-01 0 days 1,890 sqft
    2020-10-01 0 days 2,023 sqft
    2020-11-01 0 days 1,914 sqft
    2020-12-01 0 days 1,792 sqft
    2021-01-01 0 days 1,912 sqft
    2021-02-01 0 days 1,760 sqft
    2021-03-01 0 days 1,780 sqft
    2021-04-01 0 days 1,630 sqft
    2021-05-01 0 days 1,657 sqft
    2021-06-01 0 days 1,642 sqft
    2021-07-01 0 days 1,644 sqft
    2021-08-01 0 days 1,549 sqft
    2021-09-01 0 days 1,600 sqft
    2021-10-01 0 days 1,456 sqft
    2021-11-01 0 days 1,758 sqft
    2021-12-01 0 days 1,792 sqft
    2022-01-01 0 days 2,014 sqft
    2022-02-01 0 days 1,901 sqft
    2022-03-01 0 days 1,798 sqft
    2022-04-01 0 days 1,545 sqft
    2022-05-01 0 days 1,493 sqft
    2022-06-01 0 days 1,575 sqft
    2022-07-01 0 days 1,697 sqft
    2022-08-01 0 days 1,742 sqft
    2022-09-01 0 days 1,780 sqft
    2022-10-01 0 days 1,771 sqft
    2022-11-01 0 days 1,771 sqft
    2022-12-01 0 days 1,778 sqft
    2023-01-01 0 days 1,825 sqft
    2023-02-01 0 days 1,873 sqft
    2023-03-01 0 days 1,912 sqft
    2023-04-01 0 days 1,949 sqft
    2023-05-01 0 days 1,970 sqft
    2023-06-01 0 days 2,059 sqft
    2023-07-01 0 days 1,985 sqft
    2023-08-01 0 days 1,708 sqft
    2023-09-01 0 days 1,691 sqft
    2023-10-01 0 days 1,696 sqft
    2023-11-01 0 days 1,694 sqft
    2023-12-01 0 days 1,700 sqft
    2024-01-01 0 days 1,704 sqft
    2024-02-01 0 days 1,712 sqft
    2024-03-01 0 days 1,729 sqft
    2024-04-01 0 days 1,730 sqft
    2024-05-01 0 days 1,719 sqft
    2024-06-01 0 days 1,756 sqft
    2024-07-01 0 days 1,795 sqft
    2024-08-01 0 days 1,860 sqft
    2024-09-01 0 days 1,845 sqft
    2024-10-01 0 days 1,880 sqft
    Malvern's median listing age (time on market) for 2024-10-01 was 0 days.

    Malvern's median square footage for active listings during the 2024-10-01 period was 1,880 sqft. One year prior, the average listing was 1,696 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).