Myrtle Beach FHA Loans

MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-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.

    Myrtle Beach's 202 lenders originated 3,160 FHA loans during 2021. The total origination value was $661,710,000, with an average FHA loan value of $209,402.

    Myrtle Beach FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Myrtle Beach averaged 6.07% for the week of 2022-09-23, compared to the national average (all FHA variants) of 6.08% for the same period.

    The average rate for the prior week (2022-09-16) was 5.87% and one month ago for the week of 2022-08-19, the average rate was 5.28%.

    The average rate one year ago was 3.03%.

    For refis of the same type during the week of 2022-09-23, the average rate was 5.57%.

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

    Myrtle Beach FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Myrtle Beach level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 402 2.68% $6,430
    GUILD MORTGAGE COMPANY 199 3.19% $8,533
    DHI MORTGAGE COMPANY, LTD. 110 2.78% $7,681
    LAKEVIEW LOAN SERVICING, LLC 105 3.00% $4,406
    T2 FINANCIAL LLC 99 3.24% $8,497
    MOVEMENT MORTGAGE, LLC 92 3.28% $7,049
    FREEDOM MORTGAGE CORPORATION 84 2.85% $5,176
    CALIBER HOME LOANS, INC. 72 2.84% $6,458
    GUARANTEED RATE, INC. 69 3.04% $7,995
    PENNYMAC LOAN SERVICES, LLC 66 2.95% $5,244
    Mr. Cooper ( Nationstar Mortgage ) 64 3.40% $4,105
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 52 3.13% $10,065
    UNITED WHOLESALE MORTGAGE, LLC 48 2.71% $7,127
    VANDERBILT MORTGAGE AND FINANCE, INC. 47 3.19% $7,936
    Alpha Mortgage Corporation 44 3.14% $7,358
    US MORTGAGE CORPORATION 43 3.16% $7,217
    RESIDENTIAL MORTGAGE SERVICES, INC. 41 3.09% $7,672
    EAGLE HOME MORTGAGE, LLC 38 3.25% $9,393
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 38 3.22% $7,684
    CMG MORTGAGE, INC. 37 3.15% $8,827
    Gateway First Bank 37 3.25% $6,216
    LOANDEPOT.COM, LLC 34 2.77% $8,114
    ANGEL OAK HOME LOANS LLC 33 3.02% $7,443
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 30 3.27% $9,104
    VILLAGE CAPITAL MORTGAGE 26 2.92% $2,890
    PULTE MORTGAGE LLC 25 3.21% $6,002
    NEWREZ LLC 25 2.91% $4,850
    Platinum Home Mortgage Corporation 24 3.32% $9,246
    GUARANTY HOME MORTGAGE CORPORATION 20 2.88% $7,734
    HOMESIDE FINANCIAL, LLC 18 2.97% $8,469
    HOME POINT FINANCIAL CORPORATION 17 2.80% $5,815
    AMERISAVE MORTGAGE CORPORATION 17 3.13% $7,203
    Carrington Mortgage Services, LLC 17 3.49% $8,051
    HOMEBRIDGE FINANCIAL SERVICES, INC. 16 3.09% $7,940
    CROSSCOUNTRY MORTGAGE, LLC 15 3.16% $9,799
    MCLEAN MORTGAGE CORPORATION 15 3.00% $7,727
    CORNERSTONE HOME LENDING, INC. 15 3.09% $8,231
    AMERICAN FINANCIAL NETWORK, INC. 15 3.19% $9,925
    BROKER SOLUTIONS, INC. 14 3.13% $7,601
    SUN WEST MORTGAGE COMPANY, INC. 14 3.14% $6,876
    American Security Mortgage Corp. 14 2.70% $7,147
    First Guaranty Mortgage Corporation 14 3.03% $5,114
    Princeton Mortgage Corporation 13 3.17% $8,375
    SUCCESS MORTGAGE PARTNERS, INC. 12 2.98% $7,566
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 12 3.59% $7,571
    AMERICAN FINANCIAL RESOURCES, INC. 12 3.38% $6,595
    Paramount Residential Mortgage Group, Inc. 12 3.57% $9,328
    Flagstar Bank, FSB 12 2.75% $6,370
    Truist 11 2.88% $7,542
    Blue Ridge Bank 11 3.15% $8,199
    NFM, INC. 11 3.43% $10,832
    South State Bank 11 2.65% $7,208
    Lakeview Community Capital, LLC 10 3.14% $3,814
    Ameris Bank 10 2.86% $7,349
    PLANET HOME LENDING, LLC 10 3.25% $6,655
    TIDEWATER MORTGAGE SERVICES, INC. 10 2.90% $7,905
    AmeriHome Mortgage Company, LLC 10 3.18% $4,120
    ON Q FINANCIAL, INC. 9 3.24% $8,302
    Towne Bank 9 2.86% $7,575
    GENEVA FINANCIAL, LLC 9 3.10% $8,460
    Magnolia Bank 8 2.97% $6,109
    UNION HOME MORTGAGE CORP. 8 3.09% $8,174
    Bank of England 8 2.84% $8,085
    SOUTHWEST FUNDING, LP 8 3.64% $9,114
    AMERICAN FINANCING CORPORATION 8 2.84% $8,672
    InterContinental Capital Group, Inc 8 2.84% $6,702
    CITY FIRST MORTGAGE SERVICES, L.L.C. 7 3.52% $8,239
    Nations Lending Corporation 7 3.32% $7,774
    Barrington Bank & Trust Company, N.A. 7 3.64% $8,098
    RELIANCE FIRST CAPITAL, LLC 7 3.00% $8,971
    THE MORTGAGE FIRM, INC. 6 3.25% $8,200
    Mortgage Research Center, LLC 5 3.10% $5,690
    INSPIRE HOME LOANS INC. 5 3.25% $7,651
    JET HOMELOANS, LLC 5 3.14% $9,060
    MUTUAL OF OMAHA MORTGAGE, INC. 5 3.35% $8,106
    1ST SIGNATURE LENDING, LLC 5 3.18% $7,966
    Bank of America 5 2.85% $7,364
    OCEANSIDE MORTGAGE COMPANY 5 3.07% $2,954
    AMERIFIRST FINANCIAL CORPORATION 4 3.28% $7,062
    CALCON MUTUAL MORTGAGE LLC 4 3.91% $10,498
    Wells Fargo Bank 4 3.44% $5,063
    LEADERONE FINANCIAL CORPORATION 4 3.34% $8,786
    Victorian Finance, LLC 4 3.06% $6,680
    RAPID MORTGAGE COMPANY 4 3.06% $9,431
    United Bank 4 3.09% $5,946
    Renasant Bank 4 2.93% $7,282
    Citizens Bank 4 2.63% $7,624
    Northpointe Bank 4 2.94% $8,031
    STEARNS LENDING, LLC 4 2.78% $8,657
    NATIONS DIRECT MORTGAGE, LLC 4 3.38% $8,633
    EMBRACE HOME LOANS, INC. 3 3.17% $5,974
    ROYAL UNITED MORTGAGE LLC 3 3.13% $9,496
    SUMMIT FUNDING, INC. 3 3.25% $8,931
    Synovus Bank 3 3.00% $7,645
    RESOURCE FINANCIAL SERVICES, INC. 3 2.58% $8,033
    CHURCHILL MORTGAGE CORPORATION 3 2.71% $8,058
    The Federal Savings Bank 3 2.71% $11,597
    CERTAINTY HOME LOANS, LLC 3 3.13% $7,959
    TOTAL MORTGAGE SERVICES, LLC 3 3.33% $7,995
    HOMESTEAD FUNDING CORP. 3 3.17% $5,872
    INTERCOASTAL MORTGAGE COMPANY 3 2.96% $7,198
    POLARIS HOME FUNDING CORP. 3 3.17% $12,038
    NATION ONE MORTGAGE CORPORATION 3 3.42% $7,802
    JET DIRECT FUNDING CORP 3 2.79% $7,948
    JPMorgan Chase Bank 3 2.71% $3,791
    Prosperity Home Mortgage, LLC 3 3.58% $6,961
    MORIA DEVELOPMENT, INC. 3 3.25% $8,361
    LAND HOME FINANCIAL SERVICES, INC. 3 3.33% $7,647
    LENDUS, LLC 3 3.63% $6,709
    MLD MORTGAGE INC. 3 2.75% $7,114
    LOANPAL, LLC 3 2.58% $11,032
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 4.00% $6,490
    ZILLOW HOME LOANS, LLC 2 3.06% $7,410
    ACADEMY MORTGAGE CORPORATION 2 3.75% $7,391
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 2.63% $6,394
    BAY EQUITY LLC 2 3.19% $7,502
    CityWorth Mortgage LLC 2 2.75% $6,446
    DRAPER AND KRAMER MORTGAGE CORP. 2 3.06% $9,224
    East Coast Capital Corp. 2 3.00% $8,990
    Equity Prime Mortgage LLC 2 2.81% $5,352
    EQUITY RESOURCES, INC. 2 2.75% $8,151
    EVERETT FINANCIAL, INC. 2 3.13% $6,076
    FAMILY FIRST FUNDING LLC 2 2.94% $8,722
    FINANCE OF AMERICA MORTGAGE LLC 2 3.13% $7,793
    First-Citizens Bank & Trust Company 2 3.06% $7,482
    First Federal Bank 2 2.81% $7,205
    First Reliance Bank 2 2.88% $7,921
    Florida Capital Bank 2 2.94% $7,795
    GoPrime Mortgage, Inc. 2 3.00% $11,059
    HOMESPIRE MORTGAGE CORPORATION 2 3.06% $9,121
    HOMESTAR FINANCIAL CORPORATION 2 2.94% $6,855
    INTERLINC MORTGAGE SERVICES, LLC 2 3.88% $8,808
    MIDLAND MORTGAGE CORPORATION 2 3.75% $7,155
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 4.50% $6,790
    PNC Bank 2 2.69% $8,908
    RUOFF MORTGAGE COMPANY, INC. 2 3.19% $7,152
    SOUTHERN TRUST MORTGAGE, LLC 2 3.00% $3,372
    TBI MORTGAGE COMPANY 2 2.81% $9,546
    The Huntington National Bank 2 3.13% $5,668
    TIAA, FSB 2 3.38% $7,218
    TOWNE MORTGAGE COMPANY 2 3.63% $8,468
    UNITED SECURITY FINANCIAL CORP 2 3.00% $7,034
    Wyndham Capital Mortgage, Inc. 2 2.56% $6,363
    1ST FINANCIAL, INC. 2 2.75% $7,185
    Manufacturers and Traders Trust Company 1 3.13% $7,251
    PREMIER LENDING, INC. 1 2.75% $7,346
    Low VA Rates, LLC 1 2.50% $3,314
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.99% $10,697
    LIBERTY HOME MORTGAGE CORPORATION 1 3.13% $6,868
    Kwik Mortgage Corporation 1 2.25% $6,986
    JMAC LENDING, INC. 1 3.13% $9,351
    Ixonia Bank 1 3.00% $9,211
    INLAND BANK & TRUST 1 3.25% $9,434
    Hometown Lenders, Inc. 1 3.25% $7,257
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.75% $10,212
    George Mason Mortgage, LLC 1 2.63% $6,302
    F&M Bank 1 2.63% $6,667
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.38% $8,600
    First Horizon Bank 1 2.63% $10,355
    AMERICAN FEDERAL MORTGAGE CORPORATION 1 2.50% $6,451
    SECURITYNATIONAL MORTGAGE COMPANY 1 3.13% $7,472
    SIGNATURE MORTGAGE CORPORATION 1 0.00% $6,599
    SIRVA MORTGAGE, INC. 1 3.50% $6,471
    ALLIED MORTGAGE GROUP, INC. 1 2.88% $6,201
    First Heritage Mortgage, LLC 1 3.88% $8,452
    FAIR WAY LENDING LLC 1 3.63% $7,271
    SOUTHWEST STAGE FUNDING, LLC 1 3.75% $2,843
    SOVEREIGN LENDING GROUP INCORPORATED 1 3.25% $9,778
    DEVELOPER'S MORTGAGE COMPANY 1 2.88% $9,025
    Strong Home Mortgage, LLC 1 2.25% $6,837
    DATA MORTGAGE, INC. 1 2.63% $11,053
    DAS Acquisition Company, LLC 1 2.88% $7,940
    CRESCENT MORTGAGE COMPANY 1 2.75% $7,570
    SWBC MORTGAGE CORPORATION 1 3.25% $5,444
    Colten Mortgage, LLC 1 3.13% $4,158
    Colonial Savings, F.A. 1 2.63% $3,086
    Alcova Mortgage LLC 1 3.25% $8,338
    Texana Bank 1 2.75% $7,372
    Chickasaw Community Bank 1 2.88% $6,709
    ACOPIA, LLC 1 3.25% $6,581
    C & F Mortgage Corporation 1 2.25% $4,230
    THRIVE MORTGAGE, LLC 1 2.75% $5,041
    Waterstone Mortgage Corporation 1 3.88% $6,901
    CELEBRITY HOME LOANS, LLC 1 3.25% $8,263
    CAPITAL CENTER, L.L.C. 1 2.88% $2,425
    BNC National Bank 1 2.75% $12,356
    ABSOLUTE HOME MORTGAGE CORPORATION 1 2.63% $7,002
    BAYSHORE MORTGAGE FUNDING, LLC 1 3.75% $12,024
    Atlantic Coast Mortgage, LLC 1 2.50% $7,523
    Assurance Financial Group, L.L.C. 1 3.00% $9,018
    WESTERN EXPRESS LENDING 1 2.99% $6,609
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 2.75% $7,998
    OCMBC, INC. 1 2.63% $8,669
    NATIONWIDE MORTGAGE BANKERS, INC. 1 2.75% $6,056
    MORTGAGE INVESTORS GROUP, INC. 1 3.25% $5,606
    MILEND, INC. 1 2.25% $12,755
    Peoples Bank 1 3.50% $8,603
    Plains Commerce Bank 1 2.63% $8,914
    MID AMERICA MORTGAGE, INC. 1 3.38% $4,786
    MDE Home Loans, LLC 1 2.75% $6,662
    PLAZA HOME MORTGAGE, INC. 1 3.13% $2,625
    Univest Bank and Trust Co. 1 3.00% $6,835

    The top Myrtle Beach FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 402 FHA loans originated. Their average total fees are $6,430, which is $2,103 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Myrtle Beach FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,890), Lakeview Community Capital, LLC ($3,814), Mr. Cooper ( Nationstar Mortgage ) ($4,105), AmeriHome Mortgage Company, LLC ($4,120) and LAKEVIEW LOAN SERVICING, LLC ($4,406).

    The lowest rate Myrtle Beach FHA lenders (with over 10 loans originated) are South State Bank (2.65%), QUICKEN LOANS, LLC (2.68%), American Security Mortgage Corp. (2.70%), UNITED WHOLESALE MORTGAGE, LLC (2.71%) and Flagstar Bank, FSB (2.75%).

    Myrtle Beach FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC BRUNSWICK 2022 $420,680 $538,650 $651,050 $809,150
    MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC HORRY 2022 $420,680 $538,650 $651,050 $809,150

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Myrtle Beach (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 $249,067 (8.3%) $325,760 (8.8%) 0.92 6,916
    2018-02-01 $249,450 (6.4%) $323,559 (7.2%) 0.90 7,101
    2018-03-01 $249,900 (5.3%) $325,985 (6.1%) 0.86 7,326
    2018-04-01 $250,000 (4.2%) $332,969 (5.2%) 0.84 7,343
    2018-05-01 $255,900 (6.3%) $336,200 (5.1%) 0.85 7,278
    2018-06-01 $259,999 (6.6%) $340,723 (5.6%) 0.87 7,195
    2018-07-01 $264,700 (6.3%) $341,718 (4.6%) 0.88 7,031
    2018-08-01 $259,900 (4.2%) $338,497 (3.2%) 0.87 7,075
    2018-09-01 $259,900 (4.0%) $338,196 (2.8%) 0.87 7,017
    2018-10-01 $250,755 (0.4%) $330,672 (0.7%) 0.84 7,028
    2018-11-01 $254,450 (2.2%) $329,135 (0.0%) 0.85 7,018
    2018-12-01 $254,900 (2.4%) $326,874 (-0.5%) 0.87 6,935
    2019-01-01 $254,995 (2.4%) $325,631 (0.0%) 0.88 6,828
    2019-02-01 $256,408 (2.8%) $328,439 (1.5%) 0.86 7,099
    2019-03-01 $258,129 (3.3%) $332,081 (1.9%) 0.84 7,337
    2019-04-01 $262,400 (5.0%) $337,188 (1.3%) 0.83 7,555
    2019-05-01 $265,928 (3.9%) $342,518 (1.9%) 0.82 7,535
    2019-06-01 $265,000 (1.9%) $342,684 (0.6%) 0.82 7,504
    2019-07-01 $263,875 (-0.3%) $341,237 (-0.1%) 0.82 7,495
    2019-08-01 $266,243 (2.4%) $343,840 (1.6%) 0.84 7,295
    2019-09-01 $269,300 (3.6%) $345,575 (2.2%) 0.86 7,133
    2019-10-01 $268,000 (6.9%) $343,157 (3.8%) 0.85 7,270
    2019-11-01 $265,000 (4.2%) $342,474 (4.1%) 0.86 7,223
    2019-12-01 $265,000 (4.0%) $343,142 (5.0%) 0.88 6,993
    2020-01-01 $259,900 (1.9%) $339,027 (4.1%) 0.87 6,786
    2020-02-01 $262,900 (2.5%) $339,849 (3.5%) 0.85 6,842
    2020-03-01 $261,505 (1.3%) $341,662 (2.9%) 0.82 7,001
    2020-04-01 $259,900 (-1.0%) $337,509 (0.1%) 0.81 7,318
    2020-05-01 $262,560 (-1.3%) $341,331 (-0.4%) 0.80 7,046
    2020-06-01 $264,900 (0.0%) $342,748 (0.0%) 0.77 6,316
    2020-07-01 $261,200 (-1.0%) $343,444 (0.7%) 0.75 5,934
    2020-08-01 $259,900 (-2.4%) $341,272 (-0.8%) 0.74 5,684
    2020-09-01 $259,900 (-3.5%) $344,550 (-0.3%) 0.74 5,334
    2020-10-01 $260,900 (-2.7%) $348,509 (1.6%) 0.75 5,093
    2020-11-01 $263,500 (-0.6%) $348,086 (1.6%) 0.75 4,818
    2020-12-01 $259,900 (-1.9%) $342,888 (-0.1%) 0.76 4,723
    2021-01-01 $259,900 (0.0%) $340,193 (0.3%) 0.76 4,308
    2021-02-01 $262,120 (-0.3%) $344,690 (1.4%) 0.75 3,699
    2021-03-01 $273,285 (4.5%) $362,506 (6.1%) 0.77 3,123
    2021-04-01 $290,995 (12.0%) $384,198 (13.8%) 0.78 2,611
    2021-05-01 $319,500 (21.7%) $420,725 (23.3%) 0.84 2,042
    2021-06-01 $337,250 (27.3%) $443,836 (29.5%) 0.88 1,938
    2021-07-01 $359,008 (37.5%) $459,764 (33.9%) 0.93 2,015
    2021-08-01 $364,020 (40.1%) $464,709 (36.2%) 0.96 2,294
    2021-09-01 $359,950 (38.5%) $460,648 (33.7%) 0.95 2,421
    2021-10-01 $369,000 (41.4%) $471,759 (35.4%) 0.97 2,435
    2021-11-01 $368,200 (39.7%) $471,170 (35.4%) 0.97 2,375
    2021-12-01 $371,687 (43.0%) $475,067 (38.6%) 0.99 2,074
    2022-01-01 $375,500 (44.5%) $480,860 (41.4%) 1.00 1,829
    2022-02-01 $395,165 (50.8%) $517,048 (50.0%) 1.01 1,384
    2022-03-01 $399,900 (46.3%) $529,625 (46.1%) 0.99 1,372
    2022-04-01 $399,000 (37.1%) $528,811 (37.6%) 0.94 1,593
    2022-05-01 $389,945 (22.1%) $521,564 (24.0%) 0.87 2,177
    2022-06-01 $389,900 (15.6%) $518,443 (16.8%) 0.87 2,742
    2022-07-01 $385,000 (7.2%) $506,860 (10.2%) 0.86 3,400
    2022-08-01 $384,950 (5.8%) $496,489 (6.8%) 0.88 3,707
    Myrtle Beach's median listing price for 2022-08-01 was $384,950, a difference of $20,930 (5.8%) versus the prior year and $-50 versus the prior month.

    Myrtle Beach's median listing price comes in at 88% of the national average.

    Myrtle Beach's average listing price for 2022-08-01 was $496,489, a difference of $31,780 (6.8%) versus the prior year and $-10,371 versus the prior month.

    For the 2022-08-01 period, Myrtle Beach had 3,707 MLS listings, a difference of 307 listings (9%) versus the prior month and 1,413 listings (62%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Myrtle Beach (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 108 days 1,701 sqft
    2018-02-01 104 days 1,701 sqft
    2018-03-01 95 days 1,701 sqft
    2018-04-01 82 days 1,701 sqft
    2018-05-01 82 days 1,701 sqft
    2018-06-01 89 days 1,701 sqft
    2018-07-01 96 days 1,701 sqft
    2018-08-01 94 days 1,701 sqft
    2018-09-01 100 days 1,701 sqft
    2018-10-01 103 days 1,651 sqft
    2018-11-01 105 days 1,651 sqft
    2018-12-01 115 days 1,689 sqft
    2019-01-01 107 days 1,651 sqft
    2019-02-01 101 days 1,651 sqft
    2019-03-01 91 days 1,544 sqft
    2019-04-01 82 days 1,410 sqft
    2019-05-01 87 days 1,407 sqft
    2019-06-01 91 days 1,429 sqft
    2019-07-01 93 days 1,414 sqft
    2019-08-01 98 days 1,433 sqft
    2019-09-01 99 days 1,451 sqft
    2019-10-01 97 days 1,451 sqft
    2019-11-01 98 days 1,488 sqft
    2019-12-01 104 days 1,546 sqft
    2020-01-01 106 days 1,601 sqft
    2020-02-01 103 days 1,689 sqft
    2020-03-01 87 days 1,667 sqft
    2020-04-01 85 days 1,651 sqft
    2020-05-01 94 days 1,701 sqft
    2020-06-01 102 days 1,748 sqft
    2020-07-01 102 days 1,704 sqft
    2020-08-01 84 days 1,667 sqft
    2020-09-01 79 days 1,657 sqft
    2020-10-01 80 days 1,654 sqft
    2020-11-01 79 days 1,652 sqft
    2020-12-01 80 days 1,631 sqft
    2021-01-01 87 days 1,618 sqft
    2021-02-01 84 days 1,618 sqft
    2021-03-01 66 days 1,623 sqft
    2021-04-01 62 days 1,665 sqft
    2021-05-01 55 days 1,700 sqft
    2021-06-01 46 days 1,704 sqft
    2021-07-01 42 days 1,738 sqft
    2021-08-01 37 days 1,762 sqft
    2021-09-01 41 days 1,773 sqft
    2021-10-01 45 days 1,850 sqft
    2021-11-01 47 days 1,822 sqft
    2021-12-01 57 days 1,824 sqft
    2022-01-01 65 days 1,836 sqft
    2022-02-01 56 days 1,830 sqft
    2022-03-01 41 days 1,813 sqft
    2022-04-01 32 days 1,739 sqft
    2022-05-01 29 days 1,715 sqft
    2022-06-01 34 days 1,703 sqft
    2022-07-01 39 days 1,683 sqft
    2022-08-01 47 days 1,682 sqft
    Myrtle Beach's median listing age (time on market) for 2022-08-01 was 47 days. This is 27% longer than the same period one year ago.

    Myrtle Beach's median square footage for active listings during the 2022-08-01 period was 1,682 sqft. One year prior, the average listing was 1,762 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).