Naples FHA Loan Rates, Closing Costs & Stats
NAPLES-MARCO ISLAND, FL
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.
Naples's 107 lenders originated 883 FHA loans during 2022. The total origination value was $329,905,000, with an average FHA loan value of $373,618.
Naples FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Naples
averaged
6.09%
for the week of 2023-05-26, compared to the national average (all FHA variants) of
6.612% for the same period.
Naples's average FHA mortgage closing costs are $10,941.
The average rate for the prior week (2023-05-19) was
5.67% and
one month ago for the week of 2023-04-21, the
average rate was 5.81%.
The average rate one year ago was 4.93%.
For refis of the same type during the week of 2023-05-26, the average rate
was 4.75%.
Naples 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 Naples level.
The top Naples FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with
156 FHA loans originated. Their average total fees are
$17,313, which is $1,666
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Naples FHA lenders (with over 10 loans originated) are
Lakeview Community Capital, LLC ($8,703), DHI MORTGAGE COMPANY, LTD. ($12,591), LOANDEPOT.COM, LLC ($14,413), QUICKEN LOANS, LLC ($14,566) and PENNYMAC LOAN SERVICES, LLC ($14,826).
The lowest rate Naples FHA lenders (with over 10 loans originated) are
Lakeview Community Capital, LLC (3.57%), QUICKEN LOANS, LLC (4.03%), PENNYMAC LOAN SERVICES, LLC (4.23%), CALIBER HOME LOANS, INC. (4.26%) and UNITED WHOLESALE MORTGAGE, LLC (4.32%).
Naples FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
NAPLES-MARCO ISLAND, FL | COLLIER | 2022 | $552,000 | $706,650 | $854,200 | $1,061,550 |
NAPLES-MARCO ISLAND, FL | COLLIER | 2023 | $672,750 | $861,250 | $1,041,050 | $1,293,750 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Naples (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $468,900 (-6.0%) | $955,497 (-6.6%) | 1.74 | 6,385 |
2018-02-01 | $469,000 (-5.7%) | $938,749 (-7.2%) | 1.71 | 6,867 |
2018-03-01 | $460,000 (-6.0%) | $930,658 (-7.1%) | 1.61 | 7,090 |
2018-04-01 | $456,100 (-6.7%) | $911,095 (-7.9%) | 1.55 | 6,898 |
2018-05-01 | $449,900 (-5.3%) | $893,558 (-8.7%) | 1.50 | 6,574 |
2018-06-01 | $449,900 (-5.7%) | $883,640 (-9.3%) | 1.50 | 6,206 |
2018-07-01 | $449,700 (-5.3%) | $886,938 (-7.1%) | 1.50 | 5,894 |
2018-08-01 | $445,473 (-5.2%) | $883,042 (-8.0%) | 1.49 | 5,719 |
2018-09-01 | $439,950 (-6.4%) | $882,337 (-9.6%) | 1.48 | 5,649 |
2018-10-01 | $445,000 (-5.1%) | $910,227 (-5.9%) | 1.51 | 6,080 |
2018-11-01 | $449,000 (-4.3%) | $920,712 (-3.8%) | 1.52 | 6,595 |
2018-12-01 | $449,000 (-2.4%) | $915,696 (-3.8%) | 1.55 | 6,957 |
2019-01-01 | $449,450 (-4.2%) | $924,565 (-3.2%) | 1.55 | 7,385 |
2019-02-01 | $454,862 (-3.0%) | $923,294 (-1.7%) | 1.54 | 7,863 |
2019-03-01 | $459,000 (-0.2%) | $928,358 (-0.3%) | 1.53 | 7,920 |
2019-04-01 | $459,000 (0.6%) | $931,058 (2.2%) | 1.46 | 7,662 |
2019-05-01 | $450,000 (0.0%) | $927,471 (3.8%) | 1.41 | 7,113 |
2019-06-01 | $450,000 (0.0%) | $938,387 (6.2%) | 1.41 | 6,567 |
2019-07-01 | $449,450 (-0.1%) | $919,014 (3.6%) | 1.41 | 6,108 |
2019-08-01 | $449,000 (0.8%) | $920,426 (4.2%) | 1.41 | 5,900 |
2019-09-01 | $449,950 (2.3%) | $914,834 (3.7%) | 1.42 | 5,471 |
2019-10-01 | $450,000 (1.1%) | $923,300 (1.4%) | 1.45 | 5,841 |
2019-11-01 | $459,000 (2.2%) | $950,477 (3.2%) | 1.50 | 6,017 |
2019-12-01 | $465,000 (3.6%) | $960,423 (4.9%) | 1.55 | 6,125 |
2020-01-01 | $475,000 (5.7%) | $997,643 (7.9%) | 1.59 | 6,087 |
2020-02-01 | $475,000 (4.4%) | $991,163 (7.4%) | 1.56 | 6,203 |
2020-03-01 | $475,000 (3.5%) | $1,008,669 (8.7%) | 1.49 | 6,160 |
2020-04-01 | $469,160 (2.2%) | $978,840 (5.1%) | 1.47 | 5,994 |
2020-05-01 | $473,345 (5.2%) | $1,008,953 (8.8%) | 1.44 | 5,683 |
2020-06-01 | $475,000 (5.6%) | $1,025,949 (9.3%) | 1.40 | 5,341 |
2020-07-01 | $474,000 (5.5%) | $1,031,953 (12.3%) | 1.37 | 4,927 |
2020-08-01 | $475,000 (5.8%) | $1,051,742 (14.3%) | 1.36 | 4,621 |
2020-09-01 | $478,579 (6.4%) | $1,064,008 (16.3%) | 1.37 | 4,314 |
2020-10-01 | $475,000 (5.6%) | $1,068,283 (15.7%) | 1.36 | 4,156 |
2020-11-01 | $479,000 (4.4%) | $1,085,815 (14.2%) | 1.40 | 3,915 |
2020-12-01 | $478,303 (2.9%) | $1,105,719 (15.1%) | 1.42 | 3,638 |
2021-01-01 | $479,000 (0.8%) | $1,144,020 (14.7%) | 1.43 | 3,192 |
2021-02-01 | $497,000 (4.6%) | $1,169,300 (18.0%) | 1.45 | 2,416 |
2021-03-01 | $549,500 (15.7%) | $1,276,801 (26.6%) | 1.56 | 1,796 |
2021-04-01 | $582,500 (24.2%) | $1,363,855 (39.3%) | 1.58 | 1,491 |
2021-05-01 | $600,000 (26.8%) | $1,461,823 (44.9%) | 1.59 | 1,263 |
2021-06-01 | $640,000 (34.7%) | $1,523,262 (48.5%) | 1.68 | 1,232 |
2021-07-01 | $649,900 (37.1%) | $1,577,046 (52.8%) | 1.71 | 1,281 |
2021-08-01 | $659,500 (38.8%) | $1,557,881 (48.1%) | 1.76 | 1,290 |
2021-09-01 | $668,475 (39.7%) | $1,616,479 (51.9%) | 1.78 | 1,259 |
2021-10-01 | $699,950 (47.4%) | $1,687,676 (58.0%) | 1.87 | 1,264 |
2021-11-01 | $728,499 (52.1%) | $1,787,211 (64.6%) | 1.95 | 1,192 |
2021-12-01 | $742,450 (55.2%) | $1,844,149 (66.8%) | 2.01 | 1,166 |
2022-01-01 | $769,450 (60.6%) | $1,928,505 (68.6%) | 2.08 | 1,068 |
2022-02-01 | $798,350 (60.6%) | $1,969,890 (68.5%) | 2.08 | 1,024 |
2022-03-01 | $799,500 (45.5%) | $1,863,799 (46.0%) | 2.00 | 1,211 |
2022-04-01 | $849,900 (45.9%) | $1,839,091 (34.9%) | 2.03 | 1,509 |
2022-05-01 | $825,000 (37.5%) | $1,746,261 (19.5%) | 1.89 | 1,903 |
2022-06-01 | $799,950 (25.0%) | $1,692,527 (11.1%) | 1.78 | 2,269 |
2022-07-01 | $791,078 (21.7%) | $1,677,531 (6.4%) | 1.79 | 2,517 |
2022-08-01 | $768,625 (16.6%) | $1,611,204 (3.4%) | 1.78 | 2,467 |
2022-09-01 | $779,450 (16.6%) | $1,626,372 (0.6%) | 1.82 | 2,347 |
2022-10-01 | $795,000 (13.6%) | $1,673,851 (-0.8%) | 1.87 | 2,379 |
2022-11-01 | $799,000 (9.7%) | $1,767,009 (-1.1%) | 1.92 | 2,655 |
2022-12-01 | $811,139 (9.3%) | $1,827,719 (-0.9%) | 2.00 | 2,765 |
2023-01-01 | $854,450 (11.1%) | $1,908,793 (-1.0%) | 2.11 | 2,985 |
2023-02-01 | $881,250 (10.4%) | $2,055,108 (4.3%) | 2.13 | 3,141 |
2023-03-01 | $892,000 (11.6%) | $2,246,431 (20.5%) | 2.10 | 3,218 |
2023-04-01 | $899,000 (5.8%) | $2,281,525 (24.1%) | 2.09 | 3,217 |
Naples's median listing price comes in at 209% of the national average.
Naples's average listing price for 2023-04-01 was $2,281,525, a difference of $442,434 (24.1%) versus the prior year and $35,094 versus the prior month.
For the 2023-04-01 period, Naples had 3,217 MLS listings, a difference of -1 listings (0%) versus the prior month and 1,708 listings (113%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Naples (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 91 days | 1,943 sqft |
2018-02-01 | 88 days | 1,925 sqft |
2018-03-01 | 84 days | 1,910 sqft |
2018-04-01 | 91 days | 1,889 sqft |
2018-05-01 | 97 days | 1,876 sqft |
2018-06-01 | 106 days | 1,883 sqft |
2018-07-01 | 114 days | 1,889 sqft |
2018-08-01 | 119 days | 1,890 sqft |
2018-09-01 | 120 days | 1,884 sqft |
2018-10-01 | 113 days | 1,882 sqft |
2018-11-01 | 102 days | 1,880 sqft |
2018-12-01 | 97 days | 1,869 sqft |
2019-01-01 | 96 days | 1,866 sqft |
2019-02-01 | 94 days | 1,866 sqft |
2019-03-01 | 96 days | 1,863 sqft |
2019-04-01 | 95 days | 1,862 sqft |
2019-05-01 | 105 days | 1,861 sqft |
2019-06-01 | 112 days | 1,868 sqft |
2019-07-01 | 119 days | 1,866 sqft |
2019-08-01 | 129 days | 1,867 sqft |
2019-09-01 | 131 days | 1,877 sqft |
2019-10-01 | 115 days | 1,882 sqft |
2019-11-01 | 100 days | 1,883 sqft |
2019-12-01 | 96 days | 1,880 sqft |
2020-01-01 | 98 days | 1,895 sqft |
2020-02-01 | 97 days | 1,900 sqft |
2020-03-01 | 95 days | 1,900 sqft |
2020-04-01 | 99 days | 1,883 sqft |
2020-05-01 | 108 days | 1,884 sqft |
2020-06-01 | 116 days | 1,881 sqft |
2020-07-01 | 121 days | 1,870 sqft |
2020-08-01 | 108 days | 1,832 sqft |
2020-09-01 | 106 days | 1,833 sqft |
2020-10-01 | 99 days | 1,819 sqft |
2020-11-01 | 87 days | 1,824 sqft |
2020-12-01 | 83 days | 1,803 sqft |
2021-01-01 | 80 days | 1,778 sqft |
2021-02-01 | 71 days | 1,786 sqft |
2021-03-01 | 53 days | 1,833 sqft |
2021-04-01 | 46 days | 1,854 sqft |
2021-05-01 | 45 days | 1,869 sqft |
2021-06-01 | 45 days | 1,922 sqft |
2021-07-01 | 46 days | 1,901 sqft |
2021-08-01 | 55 days | 1,889 sqft |
2021-09-01 | 59 days | 1,925 sqft |
2021-10-01 | 60 days | 1,945 sqft |
2021-11-01 | 61 days | 2,000 sqft |
2021-12-01 | 51 days | 1,989 sqft |
2022-01-01 | 55 days | 1,971 sqft |
2022-02-01 | 37 days | 1,936 sqft |
2022-03-01 | 31 days | 1,915 sqft |
2022-04-01 | 32 days | 1,904 sqft |
2022-05-01 | 36 days | 1,884 sqft |
2022-06-01 | 41 days | 1,880 sqft |
2022-07-01 | 52 days | 1,868 sqft |
2022-08-01 | 62 days | 1,867 sqft |
2022-09-01 | 71 days | 1,881 sqft |
2022-10-01 | 75 days | 1,890 sqft |
2022-11-01 | 70 days | 1,884 sqft |
2022-12-01 | 67 days | 1,899 sqft |
2023-01-01 | 68 days | 1,925 sqft |
2023-02-01 | 62 days | 1,915 sqft |
2023-03-01 | 57 days | 1,921 sqft |
2023-04-01 | 60 days | 1,908 sqft |
Naples's median square footage for active listings during the 2023-04-01 period was 1,908 sqft. One year prior, the average listing was 1,904 sqft.