North Port FHA Loan Rates, Closing Costs & Stats
North Port-Sarasota-Bradenton, 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.
North Port's 195 lenders originated 2,571 FHA loans during 2023. The total origination value was $868,985,000, with an average FHA loan value of $337,995.
North Port FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in North Port
averaged
6.8%
for the week of 2024-04-19, compared to the national average (all FHA variants) of
6.855% for the same period.
North Port's average FHA mortgage closing costs are $9,500.
The average rate for the prior week (2024-04-12) was
6.39% and
one month ago for the week of 2024-03-15, the
average rate was 6.56%.
The average rate one year ago was 6.09%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.94%.
North Port 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 North Port level.
The top North Port FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
261 FHA loans originated. Their average total fees are
$15,743, which is $4,836
higher than the next largest lender,
DHI MORTGAGE COMPANY, LTD..
The lowest fee North Port FHA lenders (with over 10 loans originated) are
South Pacific Financial Corporation ($10,294), PULTE MORTGAGE LLC ($10,645), DHI MORTGAGE COMPANY, LTD. ($10,907), NEAL COMMUNITIES FUNDING, LLC ($11,627) and Flagstar Bank, FSB ($11,947).
The lowest rate North Port FHA lenders (with over 10 loans originated) are
PARK SQUARE HOME MORTGAGE, LLC (5.23%), DHI MORTGAGE COMPANY, LTD. (5.39%), South Pacific Financial Corporation (5.45%), VANDERBILT MORTGAGE AND FINANCE, INC. (5.66%) and HOMEBRIDGE FINANCIAL SERVICES, INC. (5.75%).
North Port FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| NORTH PORT-SARASOTA-BRADENTON, FL | MANATEE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| NORTH PORT-SARASOTA-BRADENTON, FL | SARASOTA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| NORTH PORT-SARASOTA-BRADENTON, FL | MANATEE | 2023 | $506,000 | $647,750 | $783,000 | $973,100 |
| NORTH PORT-SARASOTA-BRADENTON, FL | SARASOTA | 2023 | $506,000 | $647,750 | $783,000 | $973,100 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - North Port (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 | $352,500 (-2.6%) | $580,897 (-6.2%) | 1.31 | 7,765 |
| 2018-02-01 | $354,950 (-1.9%) | $585,162 (-5.1%) | 1.29 | 8,279 |
| 2018-03-01 | $351,945 (-2.2%) | $584,585 (-4.6%) | 1.23 | 8,298 |
| 2018-04-01 | $350,000 (-3.3%) | $584,611 (-4.5%) | 1.19 | 8,079 |
| 2018-05-01 | $357,000 (-0.8%) | $592,572 (-3.0%) | 1.19 | 7,723 |
| 2018-06-01 | $359,900 (-0.5%) | $599,963 (-1.1%) | 1.20 | 7,338 |
| 2018-07-01 | $364,625 (1.3%) | $609,843 (1.3%) | 1.22 | 7,056 |
| 2018-08-01 | $359,556 (2.7%) | $610,476 (3.4%) | 1.20 | 6,805 |
| 2018-09-01 | $350,000 (0.0%) | $590,538 (0.5%) | 1.18 | 6,811 |
| 2018-10-01 | $354,498 (1.3%) | $595,590 (2.0%) | 1.20 | 7,078 |
| 2018-11-01 | $350,000 (0.0%) | $599,075 (3.0%) | 1.19 | 7,766 |
| 2018-12-01 | $349,900 (0.0%) | $598,249 (3.0%) | 1.21 | 8,209 |
| 2019-01-01 | $350,000 (-0.7%) | $595,405 (2.5%) | 1.21 | 8,774 |
| 2019-02-01 | $352,238 (-0.8%) | $596,285 (1.9%) | 1.19 | 9,205 |
| 2019-03-01 | $354,285 (0.7%) | $599,858 (2.6%) | 1.16 | 9,052 |
| 2019-04-01 | $360,937 (3.1%) | $605,346 (3.6%) | 1.15 | 8,703 |
| 2019-05-01 | $364,503 (2.1%) | $610,429 (3.0%) | 1.14 | 7,986 |
| 2019-06-01 | $369,000 (2.5%) | $616,742 (2.8%) | 1.15 | 7,431 |
| 2019-07-01 | $369,125 (1.2%) | $617,292 (1.2%) | 1.16 | 6,949 |
| 2019-08-01 | $367,190 (2.1%) | $615,719 (0.9%) | 1.16 | 6,709 |
| 2019-09-01 | $364,476 (4.1%) | $610,827 (3.4%) | 1.17 | 6,612 |
| 2019-10-01 | $363,934 (2.7%) | $610,569 (2.5%) | 1.17 | 6,581 |
| 2019-11-01 | $369,000 (5.4%) | $621,057 (3.7%) | 1.21 | 6,859 |
| 2019-12-01 | $370,950 (6.0%) | $631,476 (5.6%) | 1.24 | 6,894 |
| 2020-01-01 | $369,995 (5.7%) | $635,878 (6.8%) | 1.24 | 7,067 |
| 2020-02-01 | $371,356 (5.4%) | $648,207 (8.7%) | 1.22 | 7,268 |
| 2020-03-01 | $371,250 (4.8%) | $642,091 (7.0%) | 1.16 | 7,365 |
| 2020-04-01 | $357,445 (-1.0%) | $616,867 (1.9%) | 1.12 | 7,079 |
| 2020-05-01 | $359,300 (-1.4%) | $623,665 (2.2%) | 1.09 | 6,499 |
| 2020-06-01 | $365,000 (-1.1%) | $651,367 (5.6%) | 1.08 | 5,763 |
| 2020-07-01 | $369,824 (0.2%) | $660,814 (7.1%) | 1.07 | 5,233 |
| 2020-08-01 | $372,000 (1.3%) | $659,178 (7.1%) | 1.07 | 4,846 |
| 2020-09-01 | $374,950 (2.9%) | $672,728 (10.1%) | 1.07 | 4,479 |
| 2020-10-01 | $375,000 (3.0%) | $687,924 (12.7%) | 1.07 | 4,355 |
| 2020-11-01 | $375,000 (1.6%) | $700,528 (12.8%) | 1.10 | 4,042 |
| 2020-12-01 | $379,000 (2.2%) | $710,953 (12.6%) | 1.13 | 3,681 |
| 2021-01-01 | $381,641 (3.2%) | $751,922 (18.3%) | 1.14 | 3,103 |
| 2021-02-01 | $393,125 (5.9%) | $818,087 (26.2%) | 1.14 | 2,236 |
| 2021-03-01 | $415,000 (11.8%) | $829,409 (29.2%) | 1.18 | 1,725 |
| 2021-04-01 | $422,045 (18.1%) | $854,109 (38.5%) | 1.14 | 1,518 |
| 2021-05-01 | $425,000 (18.3%) | $881,351 (41.3%) | 1.13 | 1,415 |
| 2021-06-01 | $444,500 (21.8%) | $915,046 (40.5%) | 1.17 | 1,395 |
| 2021-07-01 | $455,000 (23.0%) | $930,294 (40.8%) | 1.20 | 1,495 |
| 2021-08-01 | $464,250 (24.8%) | $944,607 (43.3%) | 1.24 | 1,557 |
| 2021-09-01 | $476,678 (27.1%) | $944,496 (40.4%) | 1.27 | 1,609 |
| 2021-10-01 | $497,900 (32.8%) | $987,942 (43.6%) | 1.33 | 1,575 |
| 2021-11-01 | $507,450 (35.3%) | $1,029,958 (47.0%) | 1.36 | 1,480 |
| 2021-12-01 | $512,450 (35.2%) | $1,084,922 (52.6%) | 1.39 | 1,392 |
| 2022-01-01 | $534,680 (40.1%) | $1,193,042 (58.7%) | 1.45 | 1,142 |
| 2022-02-01 | $556,353 (41.5%) | $1,253,264 (53.2%) | 1.45 | 1,108 |
| 2022-03-01 | $576,665 (39.0%) | $1,265,317 (52.6%) | 1.44 | 1,224 |
| 2022-04-01 | $599,000 (41.9%) | $1,254,684 (46.9%) | 1.43 | 1,522 |
| 2022-05-01 | $599,450 (41.1%) | $1,185,127 (34.5%) | 1.37 | 2,014 |
| 2022-06-01 | $599,450 (34.9%) | $1,149,308 (25.6%) | 1.34 | 2,644 |
| 2022-07-01 | $579,000 (27.3%) | $1,060,492 (14.0%) | 1.30 | 3,348 |
| 2022-08-01 | $555,000 (19.6%) | $1,002,784 (6.2%) | 1.28 | 3,601 |
| 2022-09-01 | $548,250 (15.0%) | $964,138 (2.1%) | 1.28 | 3,579 |
| 2022-10-01 | $539,500 (8.4%) | $960,172 (-2.8%) | 1.27 | 3,466 |
| 2022-11-01 | $526,000 (3.7%) | $961,834 (-6.6%) | 1.26 | 3,822 |
| 2022-12-01 | $525,000 (2.5%) | $987,493 (-9.0%) | 1.30 | 3,886 |
| 2023-01-01 | $539,582 (0.9%) | $1,037,457 (-13.0%) | 1.34 | 4,102 |
| 2023-02-01 | $537,811 (-3.3%) | $1,059,818 (-15.4%) | 1.30 | 4,370 |
| 2023-03-01 | $546,353 (-5.3%) | $1,075,273 (-15.0%) | 1.29 | 4,597 |
| 2023-04-01 | $549,000 (-8.4%) | $1,066,350 (-15.0%) | 1.28 | 4,700 |
| 2023-05-01 | $549,900 (-8.3%) | $1,083,539 (-8.6%) | 1.25 | 4,592 |
| 2023-06-01 | $550,000 (-8.3%) | $1,087,224 (-5.4%) | 1.24 | 4,512 |
| 2023-07-01 | $550,000 (-5.0%) | $1,072,393 (1.1%) | 1.25 | 4,565 |
| 2023-08-01 | $539,927 (-2.7%) | $1,054,613 (5.2%) | 1.24 | 4,692 |
| 2023-09-01 | $525,000 (-4.2%) | $1,015,554 (5.3%) | 1.22 | 4,847 |
| 2023-10-01 | $526,000 (-2.5%) | $997,135 (3.9%) | 1.24 | 5,475 |
| 2023-11-01 | $524,950 (-0.2%) | $963,764 (0.2%) | 1.25 | 6,214 |
| 2023-12-01 | $520,000 (-1.0%) | $955,884 (-3.2%) | 1.27 | 6,682 |
| 2024-01-01 | $525,000 (-2.7%) | $957,285 (-7.7%) | 1.28 | 7,417 |
| 2024-02-01 | $517,450 (-3.8%) | $954,114 (-10.0%) | 1.25 | 8,219 |
| 2024-03-01 | $515,000 (-5.7%) | $942,729 (-12.3%) | 1.21 | 8,531 |
North Port's median listing price comes in at 121% of the national average.
North Port's average listing price for 2024-03-01 was $942,729, a difference of $-132,544 (-12.3%) versus the prior year and $-11,385 versus the prior month.
For the 2024-03-01 period, North Port had 8,531 MLS listings, a difference of 312 listings (4%) versus the prior month and 3,934 listings (86%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - North Port (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 72 days | 1,848 sqft |
| 2018-02-01 | 66 days | 1,858 sqft |
| 2018-03-01 | 60 days | 1,858 sqft |
| 2018-04-01 | 70 days | 1,857 sqft |
| 2018-05-01 | 75 days | 1,864 sqft |
| 2018-06-01 | 80 days | 1,873 sqft |
| 2018-07-01 | 82 days | 1,883 sqft |
| 2018-08-01 | 83 days | 1,885 sqft |
| 2018-09-01 | 82 days | 1,865 sqft |
| 2018-10-01 | 77 days | 1,867 sqft |
| 2018-11-01 | 71 days | 1,852 sqft |
| 2018-12-01 | 70 days | 1,834 sqft |
| 2019-01-01 | 75 days | 1,828 sqft |
| 2019-02-01 | 73 days | 1,835 sqft |
| 2019-03-01 | 72 days | 1,837 sqft |
| 2019-04-01 | 74 days | 1,837 sqft |
| 2019-05-01 | 81 days | 1,840 sqft |
| 2019-06-01 | 85 days | 1,849 sqft |
| 2019-07-01 | 86 days | 1,856 sqft |
| 2019-08-01 | 83 days | 1,854 sqft |
| 2019-09-01 | 81 days | 1,848 sqft |
| 2019-10-01 | 77 days | 1,847 sqft |
| 2019-11-01 | 67 days | 1,857 sqft |
| 2019-12-01 | 72 days | 1,857 sqft |
| 2020-01-01 | 74 days | 1,853 sqft |
| 2020-02-01 | 68 days | 1,861 sqft |
| 2020-03-01 | 64 days | 1,853 sqft |
| 2020-04-01 | 72 days | 1,826 sqft |
| 2020-05-01 | 84 days | 1,818 sqft |
| 2020-06-01 | 94 days | 1,817 sqft |
| 2020-07-01 | 82 days | 1,828 sqft |
| 2020-08-01 | 65 days | 1,816 sqft |
| 2020-09-01 | 59 days | 1,818 sqft |
| 2020-10-01 | 56 days | 1,811 sqft |
| 2020-11-01 | 57 days | 1,784 sqft |
| 2020-12-01 | 58 days | 1,769 sqft |
| 2021-01-01 | 61 days | 1,774 sqft |
| 2021-02-01 | 53 days | 1,754 sqft |
| 2021-03-01 | 43 days | 1,779 sqft |
| 2021-04-01 | 37 days | 1,769 sqft |
| 2021-05-01 | 37 days | 1,750 sqft |
| 2021-06-01 | 36 days | 1,756 sqft |
| 2021-07-01 | 36 days | 1,758 sqft |
| 2021-08-01 | 36 days | 1,782 sqft |
| 2021-09-01 | 37 days | 1,771 sqft |
| 2021-10-01 | 38 days | 1,797 sqft |
| 2021-11-01 | 40 days | 1,815 sqft |
| 2021-12-01 | 60 days | 1,786 sqft |
| 2022-01-01 | 43 days | 1,795 sqft |
| 2022-02-01 | 31 days | 1,794 sqft |
| 2022-03-01 | 29 days | 1,817 sqft |
| 2022-04-01 | 26 days | 1,831 sqft |
| 2022-05-01 | 28 days | 1,836 sqft |
| 2022-06-01 | 30 days | 1,850 sqft |
| 2022-07-01 | 34 days | 1,836 sqft |
| 2022-08-01 | 44 days | 1,831 sqft |
| 2022-09-01 | 50 days | 1,828 sqft |
| 2022-10-01 | 59 days | 1,830 sqft |
| 2022-11-01 | 59 days | 1,809 sqft |
| 2022-12-01 | 55 days | 1,773 sqft |
| 2023-01-01 | 60 days | 1,784 sqft |
| 2023-02-01 | 49 days | 1,791 sqft |
| 2023-03-01 | 47 days | 1,817 sqft |
| 2023-04-01 | 50 days | 1,784 sqft |
| 2023-05-01 | 53 days | 1,804 sqft |
| 2023-06-01 | 58 days | 1,805 sqft |
| 2023-07-01 | 60 days | 1,815 sqft |
| 2023-08-01 | 59 days | 1,787 sqft |
| 2023-09-01 | 60 days | 1,761 sqft |
| 2023-10-01 | 59 days | 1,754 sqft |
| 2023-11-01 | 54 days | 1,739 sqft |
| 2023-12-01 | 59 days | 1,718 sqft |
| 2024-01-01 | 67 days | 1,726 sqft |
| 2024-02-01 | 59 days | 1,729 sqft |
| 2024-03-01 | 59 days | 1,722 sqft |
North Port's median square footage for active listings during the 2024-03-01 period was 1,722 sqft. One year prior, the average listing was 1,817 sqft.