Natchitoches FHA Loan Rates, Closing Costs & Stats

Natchitoches, LA

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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.

    Natchitoches's 23 lenders originated 63 FHA loans during 2023. The total origination value was $14,425,000, with an average FHA loan value of $228,968.

    Natchitoches FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Natchitoches averaged 7.17% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Natchitoches's average FHA mortgage closing costs are $6,797.

    The average rate for the prior week (2024-04-12) was 6.66% and one month ago for the week of 2024-03-15, the average rate was 6.53%.

    The average rate one year ago was 6.45%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Natchitoches 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 Natchitoches level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 13 6.37% $13,446
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 7.02% $9,714
    GMFS LLC 5 7.13% $6,165
    SOUTHPOINT FINANCIAL SERVICES, INC. 4 6.72% $8,540
    QUICKEN LOANS, LLC 3 6.08% $9,131
    Sabine State Bank and Trust Company 2 6.56% $7,746
    Assurance Financial Group, L.L.C. 2 6.69% $9,618
    Towne Bank 2 6.50% $9,961
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.81% $10,130
    NEWREZ LLC 2 6.75% $7,561
    CARDINAL FINANCIAL 2 6.19% $12,015
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $11,382
    U.S. Bank 1 7.75% $6,453
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.38% $4,968
    BM Real Estate Services, Inc. 1 6.75% $10,210
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.75% $6,816
    KELLER MORTGAGE, LLC 1 5.63% $10,225
    MORTGAGE FINANCIAL SERVICES, LLC 1 6.75% $9,132
    MOVEMENT MORTGAGE, LLC 1 6.13% $8,825
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.25% $12,632
    PLANET HOME LENDING, LLC 1 7.25% $8,595
    Regions Bank 1 6.13% $9,438
    SOUTHWEST STAGE FUNDING, LLC 1 6.88% $4,876

    The top Natchitoches FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 13 FHA loans originated. Their average total fees are $13,446, which is $3,732 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Natchitoches FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($13,446), .

    The lowest rate Natchitoches FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.37%), .

    Natchitoches FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    NATCHITOCHES, LA NATCHITOCHES 2022 $420,680 $538,650 $651,050 $809,150
    NATCHITOCHES, LA NATCHITOCHES 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Natchitoches (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 $175,000 (-7.5%) $236,027 (9.9%) 0.00 107
    2018-02-01 $176,625 (-6.6%) $236,203 (8.0%) 0.00 110
    2018-03-01 $179,450 (-0.7%) $226,098 (0.1%) 0.00 110
    2018-04-01 $203,125 (16.1%) $252,633 (15.0%) 0.00 122
    2018-05-01 $204,375 (15.1%) $254,022 (14.8%) 0.00 132
    2018-06-01 $199,000 (18.5%) $254,670 (22.6%) 0.00 146
    2018-07-01 $200,950 (20.0%) $255,025 (19.3%) 0.00 146
    2018-08-01 $216,225 (23.6%) $256,652 (14.6%) 0.00 145
    2018-09-01 $217,450 (7.4%) $251,839 (6.4%) 0.00 147
    2018-10-01 $209,975 (0.8%) $246,123 (4.2%) 0.00 147
    2018-11-01 $216,675 (19.7%) $250,301 (10.4%) 0.00 139
    2018-12-01 $220,000 (22.9%) $246,083 (3.8%) 0.00 139
    2019-01-01 $218,725 (25.0%) $246,447 (4.4%) 0.00 138
    2019-02-01 $214,450 (21.4%) $250,638 (6.1%) 0.00 136
    2019-03-01 $213,821 (19.2%) $247,314 (9.4%) 0.00 147
    2019-04-01 $223,875 (10.2%) $248,576 (-1.6%) 0.00 150
    2019-05-01 $225,000 (10.1%) $248,016 (-2.4%) 0.00 153
    2019-06-01 $228,250 (14.7%) $251,883 (-1.1%) 0.00 151
    2019-07-01 $227,000 (13.0%) $257,811 (1.1%) 0.00 152
    2019-08-01 $229,636 (6.2%) $260,360 (1.4%) 0.00 146
    2019-09-01 $229,841 (5.7%) $260,912 (3.6%) 0.00 148
    2019-10-01 $229,927 (9.5%) $260,919 (6.0%) 0.00 147
    2019-11-01 $225,000 (3.8%) $252,030 (0.7%) 0.00 137
    2019-12-01 $217,225 (-1.3%) $249,741 (1.5%) 0.00 135
    2020-01-01 $221,250 (1.2%) $247,016 (0.2%) 0.00 126
    2020-02-01 $225,000 (4.9%) $234,925 (-6.3%) 0.00 128
    2020-03-01 $225,000 (5.2%) $242,073 (-2.1%) 0.00 112
    2020-04-01 $225,000 (0.5%) $243,137 (-2.2%) 0.00 107
    2020-05-01 $224,900 (0.0%) $242,367 (-2.3%) 0.00 107
    2020-06-01 $222,125 (-2.7%) $251,252 (-0.3%) 0.00 104
    2020-07-01 $202,550 (-10.8%) $239,285 (-7.2%) 0.00 98
    2020-08-01 $205,775 (-10.4%) $250,416 (-3.8%) 0.00 87
    2020-09-01 $224,750 (-2.2%) $259,403 (-0.6%) 0.00 89
    2020-10-01 $224,750 (-2.3%) $267,514 (2.5%) 0.00 79
    2020-11-01 $239,125 (6.3%) $288,346 (14.4%) 0.00 70
    2020-12-01 $232,000 (6.8%) $278,447 (11.5%) 0.00 66
    2021-01-01 $249,250 (12.7%) $286,728 (16.1%) 0.00 65
    2021-02-01 $264,450 (17.5%) $294,786 (25.5%) 0.00 65
    2021-03-01 $264,225 (17.4%) $289,996 (19.8%) 0.00 73
    2021-04-01 $249,125 (10.7%) $276,768 (13.8%) 0.00 58
    2021-05-01 $207,325 (-7.8%) $249,213 (2.8%) 0.00 51
    2021-06-01 $209,950 (-5.5%) $243,971 (-2.9%) 0.00 41
    2021-07-01 $204,750 (1.1%) $269,127 (12.5%) 0.00 44
    2021-08-01 $216,100 (5.0%) $318,460 (27.2%) 0.00 50
    2021-09-01 $215,000 (-4.3%) $304,864 (17.5%) 0.00 51
    2021-10-01 $215,000 (-4.3%) $298,427 (11.6%) 0.00 52
    2021-11-01 $212,499 (-11.1%) $286,864 (-0.5%) 0.00 57
    2021-12-01 $217,000 (-6.5%) $265,670 (-4.6%) 0.00 58
    2022-01-01 $186,450 (-25.2%) $235,168 (-18.0%) 0.00 50
    2022-02-01 $188,675 (-28.7%) $258,892 (-12.2%) 0.00 40
    2022-03-01 $219,250 (-17.0%) $286,033 (-1.4%) 0.00 42
    2022-04-01 $249,000 (-0.1%) $293,956 (6.2%) 0.00 43
    2022-05-01 $254,500 (22.8%) $299,414 (20.1%) 0.00 36
    2022-06-01 $273,725 (30.4%) $303,884 (24.6%) 0.00 43
    2022-07-01 $265,000 (29.4%) $272,282 (1.2%) 0.00 43
    2022-08-01 $231,375 (7.1%) $250,102 (-21.5%) 0.00 42
    2022-09-01 $226,225 (5.2%) $243,952 (-20.0%) 0.00 44
    2022-10-01 $217,500 (1.2%) $239,099 (-19.9%) 0.00 43
    2022-11-01 $189,999 (-10.6%) $249,872 (-12.9%) 0.00 45
    2022-12-01 $210,000 (-3.2%) $252,873 (-4.8%) 0.00 49
    2023-01-01 $235,375 (26.2%) $262,321 (11.6%) 0.00 53
    2023-02-01 $245,875 (30.3%) $268,895 (3.9%) 0.00 50
    2023-03-01 $299,400 (36.6%) $288,623 (0.9%) 0.00 50
    2023-04-01 $310,000 (24.5%) $298,634 (1.6%) 0.00 54
    2023-05-01 $304,450 (19.6%) $308,067 (2.9%) 0.00 59
    2023-06-01 $301,900 (10.3%) $304,822 (0.3%) 0.00 60
    2023-07-01 $291,375 (10.0%) $293,029 (7.6%) 0.00 71
    2023-08-01 $293,250 (26.7%) $305,070 (22.0%) 0.00 82
    2023-09-01 $289,900 (28.2%) $312,759 (28.2%) 0.00 93
    2023-10-01 $326,950 (50.3%) $332,317 (39.0%) 0.00 87
    2023-11-01 $322,450 (69.7%) $324,470 (29.9%) 0.00 94
    2023-12-01 $315,000 (50.0%) $321,922 (27.3%) 0.00 94
    2024-01-01 $291,375 (23.8%) $324,930 (23.9%) 0.00 95
    2024-02-01 $297,450 (21.0%) $324,396 (20.6%) 0.00 86
    2024-03-01 $290,000 (-3.1%) $317,297 (9.9%) 0.00 88
    Natchitoches's median listing price for 2024-03-01 was $290,000, a difference of $-9,400 (-3.1%) versus the prior year and $-7,450 versus the prior month.

    Natchitoches's median listing price comes in at 0% of the national average.

    Natchitoches's average listing price for 2024-03-01 was $317,297, a difference of $28,674 (9.9%) versus the prior year and $-7,099 versus the prior month.

    For the 2024-03-01 period, Natchitoches had 88 MLS listings, a difference of 2 listings (2%) versus the prior month and 38 listings (76%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Natchitoches (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,993 sqft
    2018-02-01 0 days 1,944 sqft
    2018-03-01 0 days 1,944 sqft
    2018-04-01 0 days 2,040 sqft
    2018-05-01 0 days 2,008 sqft
    2018-06-01 0 days 1,990 sqft
    2018-07-01 0 days 1,999 sqft
    2018-08-01 0 days 2,043 sqft
    2018-09-01 0 days 2,074 sqft
    2018-10-01 0 days 2,012 sqft
    2018-11-01 0 days 2,026 sqft
    2018-12-01 0 days 1,999 sqft
    2019-01-01 0 days 2,001 sqft
    2019-02-01 0 days 1,998 sqft
    2019-03-01 0 days 2,002 sqft
    2019-04-01 0 days 2,006 sqft
    2019-05-01 0 days 2,005 sqft
    2019-06-01 0 days 2,010 sqft
    2019-07-01 0 days 2,008 sqft
    2019-08-01 0 days 2,065 sqft
    2019-09-01 0 days 2,070 sqft
    2019-10-01 0 days 2,078 sqft
    2019-11-01 0 days 2,018 sqft
    2019-12-01 0 days 2,014 sqft
    2020-01-01 0 days 2,019 sqft
    2020-02-01 0 days 2,017 sqft
    2020-03-01 0 days 2,026 sqft
    2020-04-01 0 days 2,046 sqft
    2020-05-01 0 days 2,010 sqft
    2020-06-01 0 days 2,059 sqft
    2020-07-01 0 days 1,900 sqft
    2020-08-01 0 days 1,900 sqft
    2020-09-01 0 days 1,998 sqft
    2020-10-01 0 days 1,984 sqft
    2020-11-01 0 days 2,068 sqft
    2020-12-01 0 days 2,069 sqft
    2021-01-01 0 days 2,117 sqft
    2021-02-01 0 days 2,240 sqft
    2021-03-01 0 days 2,223 sqft
    2021-04-01 0 days 2,148 sqft
    2021-05-01 0 days 2,083 sqft
    2021-06-01 0 days 2,065 sqft
    2021-07-01 0 days 1,985 sqft
    2021-08-01 0 days 2,033 sqft
    2021-09-01 0 days 1,945 sqft
    2021-10-01 0 days 1,945 sqft
    2021-11-01 0 days 1,904 sqft
    2021-12-01 0 days 1,913 sqft
    2022-01-01 0 days 1,834 sqft
    2022-02-01 0 days 1,864 sqft
    2022-03-01 0 days 1,936 sqft
    2022-04-01 0 days 2,019 sqft
    2022-05-01 0 days 2,156 sqft
    2022-06-01 0 days 2,141 sqft
    2022-07-01 0 days 2,096 sqft
    2022-08-01 0 days 1,955 sqft
    2022-09-01 0 days 1,865 sqft
    2022-10-01 0 days 1,911 sqft
    2022-11-01 0 days 1,842 sqft
    2022-12-01 0 days 1,900 sqft
    2023-01-01 0 days 2,024 sqft
    2023-02-01 0 days 2,095 sqft
    2023-03-01 0 days 2,100 sqft
    2023-04-01 0 days 2,019 sqft
    2023-05-01 0 days 2,000 sqft
    2023-06-01 0 days 2,100 sqft
    2023-07-01 0 days 2,044 sqft
    2023-08-01 0 days 2,022 sqft
    2023-09-01 0 days 2,051 sqft
    2023-10-01 0 days 2,162 sqft
    2023-11-01 0 days 2,068 sqft
    2023-12-01 0 days 2,046 sqft
    2024-01-01 0 days 2,038 sqft
    2024-02-01 0 days 2,054 sqft
    2024-03-01 0 days 2,008 sqft
    Natchitoches's median listing age (time on market) for 2024-03-01 was 0 days.

    Natchitoches's median square footage for active listings during the 2024-03-01 period was 2,008 sqft. One year prior, the average listing was 2,100 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).