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 6.14% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

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

The average rate for the prior week (2023-05-19) was 5.82% and one month ago for the week of 2023-04-21, the average rate was 5.86%.

The average rate one year ago was 5.07%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.16%.

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 $245,138 (6.7%) $318,063 (7.5%) 0.91 6,620
2018-02-01 $247,883 (7.8%) $316,139 (6.3%) 0.90 6,801
2018-03-01 $249,000 (6.0%) $319,239 (5.6%) 0.87 7,002
2018-04-01 $249,900 (4.6%) $326,080 (4.8%) 0.85 7,013
2018-05-01 $253,150 (5.5%) $329,170 (4.6%) 0.85 6,946
2018-06-01 $259,900 (7.7%) $335,093 (4.2%) 0.87 6,846
2018-07-01 $260,000 (6.2%) $335,340 (4.9%) 0.87 6,692
2018-08-01 $259,000 (4.9%) $332,048 (3.2%) 0.87 6,738
2018-09-01 $257,500 (3.4%) $332,235 (2.8%) 0.87 6,653
2018-10-01 $249,981 (0.6%) $324,602 (0.8%) 0.85 6,639
2018-11-01 $251,481 (2.7%) $323,891 (0.5%) 0.85 6,609
2018-12-01 $250,000 (2.0%) $321,131 (0.0%) 0.86 6,575
2019-01-01 $251,906 (2.8%) $319,246 (0.4%) 0.87 6,506
2019-02-01 $252,950 (2.0%) $321,953 (1.8%) 0.85 6,772
2019-03-01 $253,990 (2.0%) $323,666 (1.4%) 0.85 6,988
2019-04-01 $259,900 (4.0%) $328,101 (0.6%) 0.83 7,192
2019-05-01 $264,238 (4.4%) $334,518 (1.6%) 0.83 7,137
2019-06-01 $263,500 (1.4%) $334,366 (-0.2%) 0.82 7,091
2019-07-01 $259,983 (0.0%) $333,905 (-0.4%) 0.81 7,009
2019-08-01 $265,000 (2.3%) $338,714 (2.0%) 0.83 6,901
2019-09-01 $269,894 (4.8%) $342,338 (3.0%) 0.85 6,492
2019-10-01 $267,445 (7.0%) $336,950 (3.8%) 0.86 6,803
2019-11-01 $265,000 (5.4%) $336,543 (3.9%) 0.87 6,772
2019-12-01 $264,900 (6.0%) $335,038 (4.3%) 0.88 6,574
2020-01-01 $259,900 (3.2%) $331,099 (3.7%) 0.87 6,354
2020-02-01 $260,159 (2.9%) $331,921 (3.1%) 0.85 6,402
2020-03-01 $261,025 (2.8%) $334,916 (3.5%) 0.82 6,593
2020-04-01 $259,698 (-0.1%) $330,342 (0.7%) 0.81 6,867
2020-05-01 $261,025 (-1.2%) $335,955 (0.4%) 0.79 6,628
2020-06-01 $264,900 (0.5%) $338,609 (1.3%) 0.78 5,941
2020-07-01 $262,412 (0.9%) $338,785 (1.5%) 0.76 5,601
2020-08-01 $259,990 (-1.9%) $338,198 (-0.2%) 0.75 5,386
2020-09-01 $259,900 (-3.7%) $340,523 (-0.5%) 0.74 5,051
2020-10-01 $261,770 (-2.1%) $345,503 (2.5%) 0.75 4,807
2020-11-01 $263,505 (-0.6%) $344,287 (2.3%) 0.77 4,549
2020-12-01 $259,900 (-1.9%) $339,667 (1.4%) 0.77 4,429
2021-01-01 $259,240 (-0.3%) $336,497 (1.6%) 0.77 4,065
2021-02-01 $261,923 (0.7%) $341,315 (2.8%) 0.76 3,449
2021-03-01 $272,754 (4.5%) $358,388 (7.0%) 0.77 2,923
2021-04-01 $290,696 (11.9%) $380,515 (15.2%) 0.79 2,461
2021-05-01 $310,000 (18.8%) $415,142 (23.6%) 0.82 1,974
2021-06-01 $327,500 (23.6%) $438,169 (29.4%) 0.86 1,871
2021-07-01 $359,000 (36.8%) $455,729 (34.5%) 0.95 1,957
2021-08-01 $357,195 (37.4%) $455,912 (34.8%) 0.95 2,201
2021-09-01 $354,508 (36.4%) $452,653 (32.9%) 0.95 2,328
2021-10-01 $365,495 (39.6%) $463,494 (34.2%) 0.97 2,375
2021-11-01 $365,600 (38.7%) $463,687 (34.7%) 0.98 2,287
2021-12-01 $369,925 (42.3%) $466,837 (37.4%) 1.00 1,985
2022-01-01 $371,230 (43.2%) $469,702 (39.6%) 1.00 1,772
2022-02-01 $392,115 (49.7%) $511,881 (50.0%) 1.02 1,353
2022-03-01 $399,900 (46.6%) $522,448 (45.8%) 1.00 1,349
2022-04-01 $397,505 (36.7%) $522,954 (37.4%) 0.95 1,555
2022-05-01 $389,450 (25.6%) $514,677 (24.0%) 0.89 2,139
2022-06-01 $389,160 (18.8%) $510,375 (16.5%) 0.87 2,692
2022-07-01 $382,945 (6.7%) $498,857 (9.5%) 0.87 3,328
2022-08-01 $381,137 (6.7%) $488,707 (7.2%) 0.88 3,635
2022-09-01 $382,450 (7.9%) $487,023 (7.6%) 0.89 3,901
2022-10-01 $379,000 (3.7%) $480,956 (3.8%) 0.89 4,150
2022-11-01 $373,509 (2.2%) $470,578 (1.5%) 0.90 4,439
2022-12-01 $365,650 (-1.2%) $462,545 (-0.9%) 0.90 4,475
2023-01-01 $362,500 (-2.4%) $458,227 (-2.4%) 0.90 4,287
2023-02-01 $364,195 (-7.1%) $458,511 (-10.4%) 0.88 4,042
2023-03-01 $364,950 (-8.7%) $462,179 (-11.5%) 0.86 3,929
2023-04-01 $367,500 (-7.6%) $470,977 (-9.9%) 0.85 3,857
Myrtle Beach's median listing price for 2023-04-01 was $367,500, a difference of $-30,005 (-7.6%) versus the prior year and $2,550 versus the prior month.

Myrtle Beach's median listing price comes in at 85% of the national average.

Myrtle Beach's average listing price for 2023-04-01 was $470,977, a difference of $-51,977 (-9.9%) versus the prior year and $8,798 versus the prior month.

For the 2023-04-01 period, Myrtle Beach had 3,857 MLS listings, a difference of -72 listings (-2%) versus the prior month and 2,302 listings (148%) 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
2018-02-01 105 days 1,701 sqft
2018-03-01 94 days 1,701 sqft
2018-04-01 83 days 1,701 sqft
2018-05-01 83 days 1,701 sqft
2018-06-01 89 days 1,701 sqft
2018-07-01 95 days 1,701 sqft
2018-08-01 93 days 1,701 sqft
2018-09-01 99 days 1,701 sqft
2018-10-01 103 days 1,647 sqft
2018-11-01 105 days 1,648 sqft
2018-12-01 115 days 1,651 sqft
2019-01-01 105 days 1,626 sqft
2019-02-01 100 days 1,604 sqft
2019-03-01 87 days 1,501 sqft
2019-04-01 82 days 1,501 sqft
2019-05-01 87 days 1,510 sqft
2019-06-01 92 days 1,550 sqft
2019-07-01 92 days 1,594 sqft
2019-08-01 101 days 1,604 sqft
2019-09-01 103 days 1,620 sqft
2019-10-01 95 days 1,602 sqft
2019-11-01 96 days 1,601 sqft
2019-12-01 102 days 1,650 sqft
2020-01-01 106 days 1,650 sqft
2020-02-01 102 days 1,651 sqft
2020-03-01 85 days 1,650 sqft
2020-04-01 85 days 1,650 sqft
2020-05-01 94 days 1,650 sqft
2020-06-01 102 days 1,679 sqft
2020-07-01 97 days 1,676 sqft
2020-08-01 80 days 1,660 sqft
2020-09-01 79 days 1,650 sqft
2020-10-01 80 days 1,648 sqft
2020-11-01 79 days 1,633 sqft
2020-12-01 81 days 1,620 sqft
2021-01-01 86 days 1,609 sqft
2021-02-01 83 days 1,600 sqft
2021-03-01 67 days 1,601 sqft
2021-04-01 60 days 1,651 sqft
2021-05-01 52 days 1,668 sqft
2021-06-01 44 days 1,681 sqft
2021-07-01 41 days 1,719 sqft
2021-08-01 37 days 1,728 sqft
2021-09-01 41 days 1,736 sqft
2021-10-01 43 days 1,833 sqft
2021-11-01 45 days 1,805 sqft
2021-12-01 58 days 1,812 sqft
2022-01-01 66 days 1,821 sqft
2022-02-01 49 days 1,814 sqft
2022-03-01 38 days 1,804 sqft
2022-04-01 30 days 1,725 sqft
2022-05-01 28 days 1,708 sqft
2022-06-01 33 days 1,699 sqft
2022-07-01 39 days 1,668 sqft
2022-08-01 46 days 1,670 sqft
2022-09-01 53 days 1,690 sqft
2022-10-01 59 days 1,702 sqft
2022-11-01 66 days 1,702 sqft
2022-12-01 68 days 1,711 sqft
2023-01-01 78 days 1,701 sqft
2023-02-01 81 days 1,714 sqft
2023-03-01 63 days 1,720 sqft
2023-04-01 56 days 1,715 sqft
Myrtle Beach's median listing age (time on market) for 2023-04-01 was 56 days. This is 87% longer than the same period one year ago.

Myrtle Beach's median square footage for active listings during the 2023-04-01 period was 1,715 sqft. One year prior, the average listing was 1,725 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).