Newberry FHA Loan Rates, Closing Costs & Stats
Newberry, SC
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.
Newberry's 34 lenders originated 77 FHA loans during 2023. The total origination value was $16,415,000, with an average FHA loan value of $213,182.
Newberry FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Newberry
averaged
6.56%
for the week of 2024-12-06, compared to the national average (all FHA variants) of
6.363% for the same period.
Newberry's average FHA mortgage closing costs are $7,144.
The average rate for the prior week (2024-11-29) was
6.5% and
one month ago for the week of 2024-11-01, the
average rate was 6.19%.
The average rate one year ago was 7.12%.
For refis of the same type during the week of 2024-12-06, the average rate
was 6.46%.
Newberry 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 Newberry level.
The top Newberry FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
7 FHA loans originated. Their average total fees are
$9,166, which is $1,383
lower than the next largest lender,
CARDINAL FINANCIAL.
The lowest fee Newberry FHA lenders (with over 10 loans originated) are
.
The lowest rate Newberry FHA lenders (with over 10 loans originated) are
.
Newberry FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
NEWBERRY, SC | NEWBERRY | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
NEWBERRY, SC | NEWBERRY | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Newberry (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 | $159,450 (-0.2%) | $213,676 (-12.2%) | 0.00 | 139 |
2018-02-01 | $161,450 (8.0%) | $214,346 (-3.3%) | 0.00 | 129 |
2018-03-01 | $176,250 (21.6%) | $235,991 (7.6%) | 0.00 | 116 |
2018-04-01 | $234,000 (56.0%) | $258,935 (10.8%) | 0.00 | 107 |
2018-05-01 | $236,500 (32.9%) | $260,339 (5.1%) | 0.00 | 91 |
2018-06-01 | $199,900 (12.8%) | $256,734 (0.7%) | 0.00 | 102 |
2018-07-01 | $195,700 (8.8%) | $238,935 (-1.8%) | 0.00 | 115 |
2018-08-01 | $237,450 (37.9%) | $261,611 (12.1%) | 0.00 | 108 |
2018-09-01 | $229,900 (27.8%) | $250,899 (5.1%) | 0.00 | 103 |
2018-10-01 | $209,475 (19.7%) | $251,663 (9.4%) | 0.00 | 101 |
2018-11-01 | $223,475 (27.7%) | $246,556 (11.9%) | 0.00 | 93 |
2018-12-01 | $225,000 (30.5%) | $245,314 (13.0%) | 0.00 | 95 |
2019-01-01 | $219,000 (37.4%) | $242,047 (13.3%) | 0.00 | 88 |
2019-02-01 | $220,375 (36.5%) | $246,760 (15.1%) | 0.00 | 86 |
2019-03-01 | $236,000 (33.9%) | $266,512 (12.9%) | 0.00 | 87 |
2019-04-01 | $250,125 (6.9%) | $290,021 (12.0%) | 0.00 | 86 |
2019-05-01 | $217,200 (-8.2%) | $278,520 (7.0%) | 0.00 | 91 |
2019-06-01 | $195,400 (-2.3%) | $259,142 (0.9%) | 0.00 | 86 |
2019-07-01 | $193,100 (-1.3%) | $251,170 (5.1%) | 0.00 | 88 |
2019-08-01 | $194,405 (-18.1%) | $247,283 (-5.5%) | 0.00 | 95 |
2019-09-01 | $190,211 (-17.3%) | $242,552 (-3.3%) | 0.00 | 96 |
2019-10-01 | $187,416 (-10.5%) | $239,398 (-4.9%) | 0.00 | 93 |
2019-11-01 | $184,999 (-17.2%) | $246,932 (0.2%) | 0.00 | 93 |
2019-12-01 | $187,450 (-16.7%) | $246,651 (0.6%) | 0.00 | 95 |
2020-01-01 | $198,450 (-9.4%) | $258,781 (6.9%) | 0.00 | 82 |
2020-02-01 | $199,900 (-9.3%) | $272,399 (10.4%) | 0.00 | 86 |
2020-03-01 | $208,408 (-11.7%) | $275,522 (3.4%) | 0.00 | 84 |
2020-04-01 | $211,380 (-15.5%) | $284,288 (-2.0%) | 0.00 | 85 |
2020-05-01 | $229,950 (5.9%) | $302,857 (8.7%) | 0.00 | 81 |
2020-06-01 | $224,424 (14.9%) | $299,861 (15.7%) | 0.00 | 63 |
2020-07-01 | $223,427 (15.7%) | $295,016 (17.5%) | 0.00 | 59 |
2020-08-01 | $219,900 (13.1%) | $276,975 (12.0%) | 0.00 | 48 |
2020-09-01 | $198,625 (4.4%) | $239,626 (-1.2%) | 0.00 | 47 |
2020-10-01 | $192,500 (2.7%) | $246,698 (3.1%) | 0.00 | 41 |
2020-11-01 | $207,450 (12.1%) | $253,676 (2.7%) | 0.00 | 36 |
2020-12-01 | $235,000 (25.4%) | $295,374 (19.8%) | 0.00 | 44 |
2021-01-01 | $223,500 (12.6%) | $269,204 (4.0%) | 0.00 | 36 |
2021-02-01 | $233,750 (16.9%) | $278,941 (2.4%) | 0.00 | 42 |
2021-03-01 | $249,913 (19.9%) | $305,775 (11.0%) | 0.00 | 33 |
2021-04-01 | $249,000 (17.8%) | $303,252 (6.7%) | 0.00 | 22 |
2021-05-01 | $256,375 (11.5%) | $303,944 (0.4%) | 0.00 | 21 |
2021-06-01 | $187,500 (-16.5%) | $327,635 (9.3%) | 0.00 | 28 |
2021-07-01 | $275,000 (23.1%) | $367,964 (24.7%) | 0.00 | 29 |
2021-08-01 | $257,875 (17.3%) | $374,764 (35.3%) | 0.00 | 37 |
2021-09-01 | $306,875 (54.5%) | $427,215 (78.3%) | 0.00 | 43 |
2021-10-01 | $295,000 (53.3%) | $376,227 (52.5%) | 0.00 | 42 |
2021-11-01 | $300,975 (45.1%) | $447,394 (76.4%) | 0.00 | 37 |
2021-12-01 | $300,750 (28.0%) | $436,155 (47.7%) | 0.00 | 30 |
2022-01-01 | $274,950 (23.0%) | $430,329 (59.9%) | 0.00 | 26 |
2022-02-01 | $245,500 (5.0%) | $423,765 (51.9%) | 0.00 | 17 |
2022-03-01 | $300,165 (20.1%) | $486,032 (59.0%) | 0.00 | 21 |
2022-04-01 | $302,940 (21.7%) | $464,355 (53.1%) | 0.00 | 36 |
2022-05-01 | $308,740 (20.4%) | $497,143 (63.6%) | 0.00 | 47 |
2022-06-01 | $309,065 (64.8%) | $432,643 (32.1%) | 0.00 | 58 |
2022-07-01 | $306,490 (11.5%) | $431,245 (17.2%) | 0.00 | 68 |
2022-08-01 | $310,165 (20.3%) | $421,836 (12.6%) | 0.00 | 62 |
2022-09-01 | $310,000 (1.0%) | $414,530 (-3.0%) | 0.00 | 59 |
2022-10-01 | $304,390 (3.2%) | $392,733 (4.4%) | 0.00 | 68 |
2022-11-01 | $299,950 (-0.3%) | $369,466 (-17.4%) | 0.00 | 74 |
2022-12-01 | $289,900 (-3.6%) | $364,707 (-16.4%) | 0.00 | 73 |
2023-01-01 | $297,145 (8.1%) | $374,444 (-13.0%) | 0.00 | 59 |
2023-02-01 | $285,018 (16.1%) | $338,327 (-20.2%) | 0.00 | 56 |
2023-03-01 | $276,500 (-7.9%) | $359,934 (-25.9%) | 0.00 | 56 |
2023-04-01 | $305,000 (0.7%) | $437,500 (-5.8%) | 0.00 | 64 |
2023-05-01 | $401,000 (29.9%) | $472,371 (-5.0%) | 0.00 | 48 |
2023-06-01 | $356,750 (15.4%) | $458,502 (6.0%) | 0.00 | 41 |
2023-07-01 | $375,000 (22.4%) | $462,830 (7.3%) | 0.00 | 39 |
2023-08-01 | $413,750 (33.4%) | $503,140 (19.3%) | 0.00 | 44 |
2023-09-01 | $349,750 (12.8%) | $475,469 (14.7%) | 0.00 | 54 |
2023-10-01 | $356,713 (17.2%) | $496,723 (26.5%) | 0.00 | 69 |
2023-11-01 | $356,549 (18.9%) | $506,658 (37.1%) | 0.00 | 67 |
2023-12-01 | $346,895 (19.7%) | $480,324 (31.7%) | 0.00 | 69 |
2024-01-01 | $339,199 (14.2%) | $467,779 (24.9%) | 0.00 | 65 |
2024-02-01 | $331,983 (16.5%) | $482,530 (42.6%) | 0.00 | 62 |
2024-03-01 | $329,950 (19.3%) | $475,450 (32.1%) | 0.00 | 62 |
2024-04-01 | $324,950 (6.5%) | $499,652 (14.2%) | 0.00 | 69 |
2024-05-01 | $354,802 (-11.5%) | $547,067 (15.8%) | 0.00 | 76 |
2024-06-01 | $339,900 (-4.7%) | $534,747 (16.6%) | 0.00 | 86 |
2024-07-01 | $310,339 (-17.2%) | $453,005 (-2.1%) | 0.00 | 93 |
2024-08-01 | $305,900 (-26.1%) | $440,853 (-12.4%) | 0.00 | 92 |
2024-09-01 | $324,950 (-7.1%) | $453,522 (-4.6%) | 0.00 | 84 |
2024-10-01 | $326,304 (-8.5%) | $426,379 (-14.2%) | 0.00 | 74 |
2024-11-01 | $347,891 (-2.4%) | $451,841 (-10.8%) | 0.00 | 78 |
Newberry's median listing price comes in at 0% of the national average.
Newberry's average listing price for 2024-11-01 was $451,841, a difference of $-54,817 (-10.8%) versus the prior year and $25,462 versus the prior month.
For the 2024-11-01 period, Newberry had 78 MLS listings, a difference of 4 listings (5%) versus the prior month and 11 listings (16%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Newberry (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,861 sqft |
2018-02-01 | 0 days | 1,815 sqft |
2018-03-01 | 0 days | 1,945 sqft |
2018-04-01 | 0 days | 1,985 sqft |
2018-05-01 | 0 days | 2,064 sqft |
2018-06-01 | 0 days | 1,907 sqft |
2018-07-01 | 0 days | 1,817 sqft |
2018-08-01 | 0 days | 1,920 sqft |
2018-09-01 | 0 days | 1,935 sqft |
2018-10-01 | 0 days | 1,973 sqft |
2018-11-01 | 0 days | 1,944 sqft |
2018-12-01 | 0 days | 2,010 sqft |
2019-01-01 | 0 days | 1,995 sqft |
2019-02-01 | 0 days | 1,944 sqft |
2019-03-01 | 0 days | 1,906 sqft |
2019-04-01 | 0 days | 1,854 sqft |
2019-05-01 | 0 days | 1,877 sqft |
2019-06-01 | 0 days | 1,856 sqft |
2019-07-01 | 0 days | 1,770 sqft |
2019-08-01 | 0 days | 1,716 sqft |
2019-09-01 | 0 days | 1,716 sqft |
2019-10-01 | 0 days | 1,736 sqft |
2019-11-01 | 0 days | 1,824 sqft |
2019-12-01 | 0 days | 1,857 sqft |
2020-01-01 | 0 days | 1,915 sqft |
2020-02-01 | 0 days | 2,004 sqft |
2020-03-01 | 0 days | 2,002 sqft |
2020-04-01 | 0 days | 1,986 sqft |
2020-05-01 | 0 days | 2,000 sqft |
2020-06-01 | 0 days | 1,971 sqft |
2020-07-01 | 0 days | 1,908 sqft |
2020-08-01 | 0 days | 1,986 sqft |
2020-09-01 | 0 days | 1,912 sqft |
2020-10-01 | 0 days | 1,929 sqft |
2020-11-01 | 0 days | 1,997 sqft |
2020-12-01 | 0 days | 1,967 sqft |
2021-01-01 | 0 days | 2,009 sqft |
2021-02-01 | 0 days | 1,917 sqft |
2021-03-01 | 0 days | 1,918 sqft |
2021-04-01 | 0 days | 2,044 sqft |
2021-05-01 | 0 days | 1,964 sqft |
2021-06-01 | 0 days | 1,690 sqft |
2021-07-01 | 0 days | 1,950 sqft |
2021-08-01 | 0 days | 2,020 sqft |
2021-09-01 | 0 days | 2,122 sqft |
2021-10-01 | 0 days | 2,100 sqft |
2021-11-01 | 0 days | 2,103 sqft |
2021-12-01 | 0 days | 2,276 sqft |
2022-01-01 | 0 days | 2,146 sqft |
2022-02-01 | 0 days | 1,821 sqft |
2022-03-01 | 0 days | 2,090 sqft |
2022-04-01 | 0 days | 2,049 sqft |
2022-05-01 | 0 days | 2,196 sqft |
2022-06-01 | 0 days | 2,196 sqft |
2022-07-01 | 0 days | 2,232 sqft |
2022-08-01 | 0 days | 2,232 sqft |
2022-09-01 | 0 days | 2,361 sqft |
2022-10-01 | 0 days | 2,303 sqft |
2022-11-01 | 0 days | 2,233 sqft |
2022-12-01 | 0 days | 2,196 sqft |
2023-01-01 | 0 days | 2,204 sqft |
2023-02-01 | 0 days | 2,182 sqft |
2023-03-01 | 0 days | 2,189 sqft |
2023-04-01 | 0 days | 2,185 sqft |
2023-05-01 | 0 days | 2,288 sqft |
2023-06-01 | 0 days | 2,150 sqft |
2023-07-01 | 0 days | 1,886 sqft |
2023-08-01 | 0 days | 1,869 sqft |
2023-09-01 | 0 days | 1,990 sqft |
2023-10-01 | 0 days | 2,225 sqft |
2023-11-01 | 0 days | 2,225 sqft |
2023-12-01 | 0 days | 2,204 sqft |
2024-01-01 | 0 days | 2,137 sqft |
2024-02-01 | 0 days | 2,189 sqft |
2024-03-01 | 0 days | 2,132 sqft |
2024-04-01 | 0 days | 2,056 sqft |
2024-05-01 | 0 days | 2,199 sqft |
2024-06-01 | 0 days | 2,018 sqft |
2024-07-01 | 0 days | 1,981 sqft |
2024-08-01 | 0 days | 1,971 sqft |
2024-09-01 | 0 days | 2,046 sqft |
2024-10-01 | 0 days | 2,100 sqft |
2024-11-01 | 0 days | 2,100 sqft |
Newberry's median square footage for active listings during the 2024-11-01 period was 2,100 sqft. One year prior, the average listing was 2,225 sqft.