Myrtle Beach FHA Loan Rates, Closing Costs & Stats

MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC

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 188 lenders originated 2,112 FHA loans during 2022. The total origination value was $521,490,000, with an average FHA loan value of $246,918.

Myrtle Beach FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Myrtle Beach averaged -0.67% for the week of 2024-02-23, compared to the national average (all FHA variants) of 0% for the same period.

Myrtle Beach's average FHA mortgage closing costs are $7,491.

The average rate for the prior week (2024-02-16) was 6.37% and one month ago for the week of 2024-01-19, the average rate was 6.21%.

The average rate one year ago was 5.77%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.45%.

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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Myrtle Beach level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 209 4.45% $11,084
DHI MORTGAGE COMPANY, LTD. 165 4.18% $8,861
UNITED WHOLESALE MORTGAGE, LLC 93 4.97% $9,693
MOVEMENT MORTGAGE, LLC 78 5.16% $10,280
T2 FINANCIAL LLC 74 5.10% $11,946
GUILD MORTGAGE COMPANY 67 4.96% $11,302
LOANDEPOT.COM, LLC 49 4.61% $9,897
CALIBER HOME LOANS, INC. 44 5.01% $9,217
GUARANTEED RATE, INC. 43 4.47% $10,123
CARDINAL FINANCIAL 40 4.43% $12,083
EAGLE HOME MORTGAGE, LLC 40 4.99% $11,253
VANDERBILT MORTGAGE AND FINANCE, INC. 38 4.77% $10,162
FREEDOM MORTGAGE CORPORATION 32 4.71% $9,823
US MORTGAGE CORPORATION 31 5.09% $11,602
JET HOMELOANS, LLC 30 5.31% $9,470
Carrington Mortgage Services, LLC 30 5.43% $11,495
Alpha Mortgage Corporation 27 5.06% $9,563
PENNYMAC LOAN SERVICES, LLC 27 4.38% $11,294
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 26 4.93% $9,202
Platinum Home Mortgage Corporation 25 4.83% $22,015
Mr. Cooper ( Nationstar Mortgage ) 24 4.47% $12,446
Flagstar Bank, FSB 24 4.64% $8,397
BROKER SOLUTIONS, INC. 22 5.39% $10,552
CMG MORTGAGE, INC. 20 4.89% $12,508
MCLEAN MORTGAGE CORPORATION 20 4.72% $9,812
TIDEWATER MORTGAGE SERVICES, INC. 18 4.90% $9,835
LAKEVIEW LOAN SERVICING, LLC 18 4.14% $7,573
AMERISAVE MORTGAGE CORPORATION 17 4.38% $10,331
ANGEL OAK HOME LOANS LLC 15 4.62% $8,622
PULTE MORTGAGE LLC 15 4.99% $7,343
CROSSCOUNTRY MORTGAGE, LLC 15 5.46% $12,122
Gateway First Bank 14 5.45% $7,662
Nations Lending Corporation 14 5.54% $10,101
AMERICAN PACIFIC MORTGAGE CORPORATION 14 5.97% $15,576
MUTUAL OF OMAHA MORTGAGE, INC. 13 4.96% $12,853
AMERICAN FINANCIAL RESOURCES, INC. 13 3.60% $8,659
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 13 5.43% $12,400
ON Q FINANCIAL, INC. 10 4.25% $8,737
UNION HOME MORTGAGE CORP. 10 5.23% $9,480
American Security Mortgage Corp. 9 4.38% $9,253
Blue Ridge Bank 8 5.42% $11,494
Alcova Mortgage LLC 8 5.25% $9,374
CORNERSTONE HOME LENDING, INC. 8 4.67% $8,854
GUARANTY HOME MORTGAGE CORPORATION 8 4.47% $8,972
HOME POINT FINANCIAL CORPORATION 8 3.95% $9,559
INTERCOASTAL MORTGAGE COMPANY 8 5.23% $9,190
PLANET HOME LENDING, LLC 8 4.58% $8,151
PRIMELENDING, A PLAINSCAPITAL COMPANY 8 5.27% $10,158
Towne Bank 8 4.78% $9,291
HOMESIDE FINANCIAL, LLC 7 5.03% $10,794
NEWREZ LLC 7 5.12% $8,587
HOMEBRIDGE FINANCIAL SERVICES, INC. 6 5.44% $12,823
Renasant Bank 6 4.65% $7,605
Citizens Bank 6 4.29% $8,609
AMERICAN FINANCING CORPORATION 6 4.96% $11,085
Bank of England 6 4.50% $11,117
Plains Commerce Bank 6 4.60% $10,915
Neighborhood Loans, Inc. 6 6.13% $10,853
Magnolia Bank 6 4.54% $8,291
Lakeview Community Capital, LLC 6 3.73% $7,817
Wells Fargo Bank 6 4.90% $8,539
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 5.05% $12,264
FINANCE OF AMERICA MORTGAGE LLC 5 4.42% $8,886
CITY FIRST MORTGAGE SERVICES, L.L.C. 5 5.60% $11,643
RAPID MORTGAGE COMPANY 5 5.75% $9,206
First Guaranty Mortgage Corporation 5 3.98% $7,228
Paramount Residential Mortgage Group, Inc. 5 4.75% $12,121
NFM, INC. 5 5.00% $10,122
Encompass Lending Group, LP 4 4.19% $9,574
Equity Prime Mortgage LLC 4 6.03% $7,982
GoPrime Mortgage, Inc. 4 5.78% $9,275
VERITAS FUNDING, LLC 4 5.09% $16,961
LEADERONE FINANCIAL CORPORATION 4 4.72% $11,224
Northpointe Bank 4 4.53% $11,836
Wyndham Capital Mortgage, Inc. 4 5.13% $8,940
Bank of America 4 4.13% $7,285
RELIANCE FIRST CAPITAL, LLC 4 5.38% $11,632
SOUTHERN TRUST MORTGAGE, LLC 4 3.75% $10,198
Ameris Bank 4 5.00% $10,316
THE MORTGAGE FIRM, INC. 4 4.69% $10,111
THRIVE MORTGAGE, LLC 4 5.94% $13,788
TJC Mortgage, Inc. 4 5.44% $13,923
TOWNE MORTGAGE COMPANY 4 5.97% $11,478
EMBRACE HOME LOANS, INC. 4 4.31% $11,191
AMERIFIRST FINANCIAL CORPORATION 3 5.63% $9,738
SOUTHWEST FUNDING, LP 3 5.13% $13,207
United Community Bank 3 4.08% $8,609
North State Bank 3 5.33% $7,308
STOCKTON MORTGAGE CORPORATION 3 5.21% $10,812
LIBERTY HOME MORTGAGE CORPORATION 3 5.33% $16,247
CERTAINTY HOME LOANS, LLC 3 5.29% $18,646
KELLER MORTGAGE, LLC 3 4.13% $8,713
Mortgage Research Center, LLC 3 5.58% $12,617
MIDLAND MORTGAGE CORPORATION 3 4.33% $12,505
RUOFF MORTGAGE COMPANY, INC. 3 4.46% $5,937
LADERA LENDING, INC. 3 5.46% $14,587
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 5.25% $8,569
CALCON MUTUAL MORTGAGE LLC 3 5.21% $10,311
Prosperity Home Mortgage, LLC 3 5.67% $10,408
RESOURCE FINANCIAL SERVICES, INC. 3 4.96% $13,042
NEW DAY FINANCIAL, LLC 3 5.04% $4,659
DIRECT MORTGAGE LOANS, LLC 3 5.37% $8,876
South State Bank 3 4.67% $7,668
Princeton Mortgage Corporation 3 3.79% $11,046
JET DIRECT FUNDING CORP 2 4.69% $10,248
PLAZA HOME MORTGAGE, INC. 2 5.63% $8,321
FBC MORTGAGE, LLC 2 6.25% $8,631
HOMESTEAD FUNDING CORP. 2 4.69% $8,847
UNITED MORTGAGE CORP 2 3.44% $9,461
INSPIRE HOME LOANS INC. 2 6.62% $13,631
POLARIS HOME FUNDING CORP. 2 6.38% $10,795
NETWORK CAPITAL FUNDING CORPORATION 2 6.13% $12,348
EVERETT FINANCIAL, INC. 2 4.31% $5,278
ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 4.00% $6,501
CONTOUR MORTGAGE CORPORATION 2 3.75% $10,654
United Fidelity Funding Corp. 2 5.50% $14,164
SeaTrust Mortgage Company 2 4.81% $7,351
1ST SIGNATURE LENDING, LLC 2 5.19% $11,652
Synovus Bank 2 4.44% $10,989
1ST FINANCIAL, INC. 2 4.88% $14,020
TD Bank 2 4.94% $6,806
Texana Bank 2 4.25% $10,745
The Federal Savings Bank 2 6.00% $12,685
DRAPER AND KRAMER MORTGAGE CORP. 2 5.81% $14,396
JPMorgan Chase Bank 2 5.25% $8,221
ZILLOW HOME LOANS, LLC 2 6.38% $11,118
EMM LOANS LLC 2 5.38% $10,610
Barrington Bank & Trust Company, N.A. 2 6.00% $9,756
LOANLEADERS OF AMERICA, INC. 2 4.44% $12,745
LOANPAL, LLC 2 4.13% $17,367
Truist 1 4.63% $8,478
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.63% $12,062
CIS Financial Services, Inc. 1 4.38% $8,303
United Bank 1 5.50% $10,874
CHURCHILL MORTGAGE CORPORATION 1 4.50% $12,509
Gulf Coast Bank and Trust Company 1 5.13% $15,764
HARTFORD FUNDING, LTD. 1 3.25% $10,604
GUARANTEED RATE AFFINITY, LLC 1 4.75% $9,998
VILLAGE CAPITAL MORTGAGE 1 4.88% $10,717
GENEVA FINANCIAL, LLC 1 5.25% $10,201
Hometown Lenders, Inc. 1 5.38% $10,643
INTERCAP LENDING INC. 1 3.88% $8,436
Integrity Home Mortgage Corp 1 5.50% $7,037
INTERLINC MORTGAGE SERVICES, LLC 1 4.38% $7,631
Ixonia Bank 1 6.88% $17,361
C & F Mortgage Corporation 1 6.63% $8,608
Kwik Mortgage Corporation 1 6.25% $13,364
First Reliance Bank 1 5.00% $8,527
LAND HOME FINANCIAL SERVICES, INC. 1 6.75% $8,111
CAPITAL CENTER, L.L.C. 1 4.50% $8,848
First Option Mortgage, LLC 1 3.25% $11,729
MDE Home Loans, LLC 1 6.50% $6,651
MORTGAGE INVESTORS GROUP, INC. 1 3.50% $7,793
Mortgage Network, Inc. 1 5.13% $12,186
BETTER MORTGAGE CORPORATION 1 3.88% $6,599
M&T Bank 1 2.50% $7,139
BECKAM FUNDING CORP. 1 6.75% $17,787
MYCUMORTGAGE, LLC 1 3.38% $9,194
MY MORTGAGE, INC. 1 5.75% $10,940
NATION ONE MORTGAGE CORPORATION 1 6.25% $15,047
NATIONS DIRECT MORTGAGE, LLC 1 4.99% $8,448
BAYSHORE MORTGAGE FUNDING, LLC 1 5.25% $6,553
First National Bank of Pennsylvania 1 3.63% $8,841
First Mortgage Solutions, LLC 1 5.13% $6,989
First Internet Bank of Indiana 1 2.63% $9,547
NTFN, INC. 1 5.63% $8,910
NVR Mortgage Finance, Inc. 1 6.50% $5,185
BAY EQUITY LLC 1 5.25% $13,089
OPEN MORTGAGE, LLC 1 5.13% $21,280
OVM FINANCIAL, INC. 1 3.75% $10,363
First Home Bank 1 4.13% $10,583
Peoples Bank 1 3.63% $9,540
First-Citizens Bank & Trust Company 1 2.75% $8,351
West Town Bank & Trust 1 3.50% $10,887
First Bank 1 5.25% $11,453
PNC Bank 1 3.88% $3,947
EQUITY RESOURCES, INC. 1 5.25% $11,266
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.63% $6,324
Cornerstone First Mortgage, Inc 1 4.75% $13,776
ABSOLUTE HOME MORTGAGE CORPORATION 1 3.50% $8,270
ROYAL UNITED MORTGAGE LLC 1 7.25% $6,956
S1L, Inc. 1 3.50% $15,745
SOUTHWEST STAGE FUNDING, LLC 1 3.88% $2,982
SUCCESS MORTGAGE PARTNERS, INC. 1 5.63% $7,484
SUN WEST MORTGAGE COMPANY, INC. 1 4.63% $8,496
DAS Acquisition Company, LLC 1 5.13% $19,267
Countybank 1 5.99% $15,026
TOP FLITE FINANCIAL, INC. 1 5.25% $9,168

The top Myrtle Beach FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 209 FHA loans originated. Their average total fees are $11,084, which is $2,224 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Myrtle Beach FHA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC ($7,343), LAKEVIEW LOAN SERVICING, LLC ($7,573), Gateway First Bank ($7,662), Flagstar Bank, FSB ($8,397) and ANGEL OAK HOME LOANS LLC ($8,622).

The lowest rate Myrtle Beach FHA lenders (with over 10 loans originated) are AMERICAN FINANCIAL RESOURCES, INC. (3.60%), LAKEVIEW LOAN SERVICING, LLC (4.14%), DHI MORTGAGE COMPANY, LTD. (4.18%), ON Q FINANCIAL, INC. (4.25%) and AMERISAVE MORTGAGE CORPORATION (4.38%).

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
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC BRUNSWICK 2023 $472,030 $604,400 $730,525 $907,900
MYRTLE BEACH-CONWAY-NORTH MYRTLE BEACH, SC-NC HORRY 2023 $472,030 $604,400 $730,525 $907,900

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 $227,590 (6.7%) $284,257 (7.5%) 0.84 4,774
2018-02-01 $229,350 (7.8%) $283,827 (6.3%) 0.83 4,891
2018-03-01 $229,000 (6.0%) $284,825 (5.6%) 0.80 5,080
2018-04-01 $229,900 (4.6%) $288,417 (4.8%) 0.78 5,053
2018-05-01 $231,950 (5.5%) $290,480 (4.6%) 0.77 5,003
2018-06-01 $237,950 (7.7%) $294,792 (4.2%) 0.79 4,956
2018-07-01 $239,650 (6.2%) $295,949 (4.9%) 0.80 4,853
2018-08-01 $234,950 (4.9%) $291,519 (3.2%) 0.79 4,899
2018-09-01 $234,900 (3.4%) $291,635 (2.8%) 0.79 4,834
2018-10-01 $233,000 (0.6%) $289,611 (0.8%) 0.79 4,902
2018-11-01 $234,000 (2.7%) $290,665 (0.5%) 0.79 4,898
2018-12-01 $234,900 (2.0%) $289,817 (0.0%) 0.81 4,855
2019-01-01 $234,850 (2.8%) $289,466 (0.4%) 0.81 4,851
2019-02-01 $235,607 (2.0%) $295,438 (1.8%) 0.80 5,004
2019-03-01 $236,279 (2.6%) $298,145 (1.6%) 0.77 5,105
2019-04-01 $237,887 (4.0%) $301,931 (0.9%) 0.76 5,163
2019-05-01 $239,950 (4.4%) $305,285 (1.6%) 0.75 5,105
2019-06-01 $239,900 (1.4%) $303,363 (-0.2%) 0.75 5,073
2019-07-01 $239,738 (0.0%) $301,135 (-0.4%) 0.75 5,033
2019-08-01 $239,339 (1.2%) $301,352 (1.1%) 0.76 4,973
2019-09-01 $239,261 (3.1%) $300,991 (1.4%) 0.77 4,948
2019-10-01 $238,886 (6.8%) $299,923 (3.8%) 0.77 4,946
2019-11-01 $239,900 (5.4%) $299,975 (3.9%) 0.79 4,911
2019-12-01 $239,900 (6.0%) $298,112 (4.3%) 0.80 4,794
2020-01-01 $236,875 (3.2%) $296,325 (3.7%) 0.79 4,655
2020-02-01 $237,000 (3.0%) $298,855 (3.1%) 0.78 4,729
2020-03-01 $235,798 (2.2%) $299,937 (3.2%) 0.74 4,840
2020-04-01 $235,000 (-0.1%) $295,071 (0.4%) 0.74 5,083
2020-05-01 $238,550 (-1.2%) $299,858 (0.4%) 0.73 4,904
2020-06-01 $239,707 (0.5%) $302,117 (1.3%) 0.71 4,449
2020-07-01 $239,900 (0.9%) $303,332 (1.5%) 0.70 4,245
2020-08-01 $239,950 (-0.8%) $303,692 (0.7%) 0.69 4,186
2020-09-01 $239,950 (-2.1%) $303,442 (1.1%) 0.69 3,949
2020-10-01 $241,725 (-2.2%) $304,072 (2.6%) 0.69 3,759
2020-11-01 $244,950 (-0.6%) $305,923 (2.3%) 0.72 3,520
2020-12-01 $243,633 (-1.9%) $300,474 (1.4%) 0.72 3,441
2021-01-01 $243,150 (-0.3%) $297,907 (1.6%) 0.73 3,174
2021-02-01 $244,995 (0.5%) $301,988 (2.8%) 0.71 2,717
2021-03-01 $255,922 (4.5%) $315,157 (7.0%) 0.73 2,285
2021-04-01 $265,785 (11.9%) $339,001 (15.2%) 0.72 1,885
2021-05-01 $279,900 (18.7%) $365,715 (23.6%) 0.74 1,508
2021-06-01 $297,500 (23.6%) $392,000 (29.4%) 0.78 1,342
2021-07-01 $326,990 (36.9%) $410,736 (34.5%) 0.86 1,413
2021-08-01 $334,783 (37.4%) $412,795 (34.8%) 0.89 1,583
2021-09-01 $337,665 (36.2%) $418,271 (32.9%) 0.90 1,652
2021-10-01 $350,000 (39.9%) $435,815 (34.1%) 0.93 1,694
2021-11-01 $356,724 (38.5%) $442,619 (34.6%) 0.95 1,650
2021-12-01 $359,635 (42.3%) $444,697 (37.5%) 0.97 1,401
2022-01-01 $359,900 (43.2%) $447,528 (39.6%) 0.97 1,318
2022-02-01 $378,493 (49.8%) $471,956 (50.0%) 0.98 1,007
2022-03-01 $398,500 (46.5%) $483,558 (45.3%) 1.00 1,006
2022-04-01 $383,485 (37.1%) $479,280 (37.2%) 0.91 1,182
2022-05-01 $374,950 (25.6%) $470,441 (23.8%) 0.86 1,626
2022-06-01 $367,450 (18.8%) $462,802 (16.4%) 0.82 2,049
2022-07-01 $358,825 (6.4%) $446,659 (9.4%) 0.81 2,536
2022-08-01 $358,848 (6.5%) $440,739 (7.1%) 0.83 2,796
2022-09-01 $358,900 (8.1%) $436,996 (7.6%) 0.84 2,992
2022-10-01 $353,815 (3.7%) $432,645 (3.8%) 0.83 3,204
2022-11-01 $349,937 (2.5%) $428,487 (1.5%) 0.84 3,412
2022-12-01 $349,900 (-1.2%) $423,697 (-1.0%) 0.86 3,441
2023-01-01 $349,450 (-2.3%) $422,394 (-2.5%) 0.87 3,274
2023-02-01 $349,945 (-7.4%) $425,736 (-10.6%) 0.84 3,039
2023-03-01 $349,995 (-8.6%) $426,574 (-11.3%) 0.83 2,923
2023-04-01 $349,900 (-8.0%) $431,218 (-9.9%) 0.81 2,904
2023-05-01 $349,900 (-6.0%) $422,119 (-9.3%) 0.79 3,042
2023-06-01 $349,411 (-6.1%) $419,748 (-8.2%) 0.79 3,123
2023-07-01 $339,900 (-5.9%) $413,041 (-6.9%) 0.77 3,212
2023-08-01 $336,450 (-6.4%) $408,234 (1.4%) 0.77 3,360
2023-09-01 $329,900 (-8.5%) $403,377 (-5.8%) 0.77 3,449
2023-10-01 $329,647 (-7.7%) $402,651 (-4.5%) 0.78 3,643
2023-11-01 $329,000 (-6.3%) $401,761 (-2.9%) 0.78 3,847
2023-12-01 $325,078 (0.0%) $399,941 (0.0%) 0.79 3,961
Myrtle Beach's median listing price for 2023-12-01 was $325,078, a difference of $-24,822 (0.0%) versus the prior year and $-3,922 versus the prior month.

Myrtle Beach's median listing price comes in at 79% of the national average.

Myrtle Beach's average listing price for 2023-12-01 was $399,941, a difference of $-23,756 (0.0%) versus the prior year and $-1,820 versus the prior month.

For the 2023-12-01 period, Myrtle Beach had 3,961 MLS listings, a difference of 114 listings (3%) versus the prior month and 520 listings (15%) 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 94 days 1,601 sqft
2018-02-01 89 days 1,601 sqft
2018-03-01 73 days 1,601 sqft
2018-04-01 72 days 1,601 sqft
2018-05-01 72 days 1,601 sqft
2018-06-01 77 days 1,601 sqft
2018-07-01 85 days 1,601 sqft
2018-08-01 81 days 1,601 sqft
2018-09-01 85 days 1,601 sqft
2018-10-01 88 days 1,551 sqft
2018-11-01 93 days 1,551 sqft
2018-12-01 97 days 1,551 sqft
2019-01-01 90 days 1,501 sqft
2019-02-01 86 days 1,526 sqft
2019-03-01 77 days 1,380 sqft
2019-04-01 74 days 1,151 sqft
2019-05-01 77 days 1,151 sqft
2019-06-01 79 days 1,151 sqft
2019-07-01 80 days 1,201 sqft
2019-08-01 81 days 1,215 sqft
2019-09-01 82 days 1,235 sqft
2019-10-01 82 days 1,251 sqft
2019-11-01 82 days 1,301 sqft
2019-12-01 88 days 1,401 sqft
2020-01-01 95 days 1,450 sqft
2020-02-01 89 days 1,550 sqft
2020-03-01 69 days 1,550 sqft
2020-04-01 75 days 1,549 sqft
2020-05-01 85 days 1,550 sqft
2020-06-01 92 days 1,550 sqft
2020-07-01 78 days 1,536 sqft
2020-08-01 67 days 1,520 sqft
2020-09-01 67 days 1,505 sqft
2020-10-01 68 days 1,500 sqft
2020-11-01 69 days 1,500 sqft
2020-12-01 73 days 1,479 sqft
2021-01-01 75 days 1,466 sqft
2021-02-01 72 days 1,405 sqft
2021-03-01 55 days 1,404 sqft
2021-04-01 52 days 1,494 sqft
2021-05-01 44 days 1,500 sqft
2021-06-01 41 days 1,509 sqft
2021-07-01 36 days 1,600 sqft
2021-08-01 32 days 1,653 sqft
2021-09-01 37 days 1,672 sqft
2021-10-01 39 days 1,774 sqft
2021-11-01 40 days 1,774 sqft
2021-12-01 54 days 1,779 sqft
2022-01-01 59 days 1,788 sqft
2022-02-01 41 days 1,764 sqft
2022-03-01 34 days 1,766 sqft
2022-04-01 26 days 1,700 sqft
2022-05-01 25 days 1,638 sqft
2022-06-01 32 days 1,618 sqft
2022-07-01 38 days 1,600 sqft
2022-08-01 45 days 1,609 sqft
2022-09-01 51 days 1,618 sqft
2022-10-01 58 days 1,638 sqft
2022-11-01 66 days 1,638 sqft
2022-12-01 68 days 1,651 sqft
2023-01-01 77 days 1,643 sqft
2023-02-01 80 days 1,656 sqft
2023-03-01 62 days 1,677 sqft
2023-04-01 52 days 1,663 sqft
2023-05-01 48 days 1,633 sqft
2023-06-01 51 days 1,618 sqft
2023-07-01 54 days 1,551 sqft
2023-08-01 55 days 1,523 sqft
2023-09-01 57 days 1,500 sqft
2023-10-01 58 days 1,477 sqft
2023-11-01 59 days 1,477 sqft
2023-12-01 66 days 1,468 sqft
Myrtle Beach's median listing age (time on market) for 2023-12-01 was 66 days. This is -2% shorter than the same period one year ago.

Myrtle Beach's median square footage for active listings during the 2023-12-01 period was 1,468 sqft. One year prior, the average listing was 1,651 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).