Myrtle Beach FHA Loans

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 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).