Orangeburg FHA Loan Rates, Closing Costs & Stats

Orangeburg, 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.

Orangeburg's 70 lenders originated 205 FHA loans during 2022. The total origination value was $40,655,000, with an average FHA loan value of $198,317.

Orangeburg FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Orangeburg averaged 6.58% for the week of 2023-09-22, compared to the national average (all FHA variants) of 7.036% for the same period.

Orangeburg's average FHA mortgage closing costs are $6,782.

The average rate for the prior week (2023-09-15) was 6.84% and one month ago for the week of 2023-08-18, the average rate was 6.55%.

The average rate one year ago was 5.33%.

For refis of the same type during the week of 2023-09-22, the average rate was 7.14%.

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

Orangeburg 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 Orangeburg level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 20 4.23% $9,129
GUILD MORTGAGE COMPANY 10 5.55% $10,529
UNITED WHOLESALE MORTGAGE, LLC 10 5.23% $9,735
BROKER SOLUTIONS, INC. 7 5.55% $8,312
Equity Prime Mortgage LLC 6 4.92% $6,770
CAROLINA ONE MORTGAGE, LLC 6 5.81% $9,216
CARDINAL FINANCIAL 6 4.92% $11,516
MIDLAND MORTGAGE CORPORATION 5 6.00% $8,530
HOME POINT FINANCIAL CORPORATION 5 4.25% $8,478
Paramount Residential Mortgage Group, Inc. 5 4.83% $8,587
AMERICAN PACIFIC MORTGAGE CORPORATION 5 5.65% $17,854
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 5.03% $10,771
LOANDEPOT.COM, LLC 4 5.22% $9,832
CMG MORTGAGE, INC. 4 4.88% $9,923
CALIBER HOME LOANS, INC. 4 4.97% $11,655
Alcova Mortgage LLC 3 5.42% $9,208
CROSSCOUNTRY MORTGAGE, LLC 3 5.71% $9,290
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 4.67% $5,797
Ameris Bank 3 4.92% $8,209
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 5.75% $7,036
CALCON MUTUAL MORTGAGE LLC 3 4.75% $15,353
SOUTHPOINT FINANCIAL SERVICES, INC. 3 4.88% $9,315
Carrington Mortgage Services, LLC 3 5.63% $9,234
VANDERBILT MORTGAGE AND FINANCE, INC. 3 4.25% $9,160
South State Bank 2 4.63% $6,341
NEWREZ LLC 2 5.19% $12,199
Network Funding, L.P. 2 5.63% $8,031
CORNERSTONE HOME LENDING, INC. 2 5.44% $11,323
Nations Lending Corporation 2 5.94% $10,801
TOWNE MORTGAGE COMPANY 2 4.94% $8,487
AMERISAVE MORTGAGE CORPORATION 2 4.44% $8,764
Mortgage Research Center, LLC 2 4.88% $11,340
First-Citizens Bank & Trust Company 2 2.88% $4,910
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 4.75% $5,950
Hometown Equity Mortgage, LLC 2 4.25% $10,457
VILLAGE CAPITAL MORTGAGE 1 2.75% $989
AMERIFIRST FINANCIAL CORPORATION 1 5.63% $10,331
Assurance Financial Group, L.L.C. 1 5.62% $10,548
Bank of America 1 5.00% $3,072
BAY EQUITY LLC 1 4.75% $8,976
BETTER MORTGAGE CORPORATION 1 3.63% $4,524
Colten Mortgage, LLC 1 4.25% $7,518
DHI MORTGAGE COMPANY, LTD. 1 4.50% $8,421
DIRECT MORTGAGE LOANS, LLC 1 4.88% $12,159
FINANCE OF AMERICA MORTGAGE LLC 1 5.13% $5,157
First Horizon Bank 1 3.88% $7,558
First Palmetto Bank 1 3.00% $8,876
First Reliance Bank 1 5.13% $5,016
FREEDOM MORTGAGE CORPORATION 1 5.99% $9,183
Gateway First Bank 1 6.25% $6,228
GENEVA FINANCIAL, LLC 1 4.38% $10,123
GUARANTEED RATE AFFINITY, LLC 1 6.50% $9,109
GUARANTEED RATE, INC. 1 4.25% $5,463
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 5.63% $6,991
MICHIGAN MUTUAL, INC. 1 5.13% $7,039
Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $6,413
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $8,214
NATIONS DIRECT MORTGAGE, LLC 1 3.75% $7,784
OCMBC, INC. 1 6.25% $11,916
OPEN MORTGAGE, LLC 1 5.88% $12,374
PANORAMA MORTGAGE GROUP, LLC 1 5.25% $18,460
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.00% $10,547
Princeton Mortgage Corporation 1 4.25% $10,163
Renasant Bank 1 3.13% $5,596
SOUTHWEST FUNDING, LP 1 5.63% $9,782
SUCCESS MORTGAGE PARTNERS, INC. 1 2.99% $7,976
THRIVE MORTGAGE, LLC 1 5.50% $8,842
TJC Mortgage, Inc. 1 6.13% $9,205
Truist 1 4.63% $4,893
United Community Bank 1 3.00% $5,776

The top Orangeburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 20 FHA loans originated. Their average total fees are $9,129, which is $1,400 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Orangeburg FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($9,129), UNITED WHOLESALE MORTGAGE, LLC ($9,735), GUILD MORTGAGE COMPANY ($10,529), .

The lowest rate Orangeburg FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.23%), UNITED WHOLESALE MORTGAGE, LLC (5.23%), GUILD MORTGAGE COMPANY (5.55%), .

Orangeburg FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Orangeburg (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 $131,200 (-6.2%) $173,912 (0.2%) 0.00 340
2018-02-01 $135,400 (-0.6%) $181,292 (5.4%) 0.00 344
2018-03-01 $139,000 (3.9%) $184,586 (7.5%) 0.00 348
2018-04-01 $138,000 (2.3%) $185,176 (6.6%) 0.00 365
2018-05-01 $139,450 (0.7%) $187,313 (4.5%) 0.00 358
2018-06-01 $139,500 (1.3%) $188,276 (5.2%) 0.00 360
2018-07-01 $139,900 (0.4%) $186,529 (5.1%) 0.00 377
2018-08-01 $146,220 (9.5%) $190,109 (13.2%) 0.00 386
2018-09-01 $148,990 (11.2%) $190,607 (12.2%) 0.00 392
2018-10-01 $146,345 (12.6%) $187,375 (12.9%) 0.00 388
2018-11-01 $145,000 (11.1%) $192,621 (14.3%) 0.00 386
2018-12-01 $142,250 (9.0%) $188,359 (12.2%) 0.00 373
2019-01-01 $145,900 (11.2%) $193,349 (11.2%) 0.00 346
2019-02-01 $149,700 (10.6%) $198,464 (9.5%) 0.00 344
2019-03-01 $157,000 (13.0%) $203,617 (10.3%) 0.00 358
2019-04-01 $163,750 (18.7%) $208,001 (12.3%) 0.00 369
2019-05-01 $159,800 (14.6%) $207,088 (10.6%) 0.00 375
2019-06-01 $159,900 (14.6%) $203,806 (8.3%) 0.00 365
2019-07-01 $160,950 (15.1%) $206,626 (10.8%) 0.00 358
2019-08-01 $167,509 (14.6%) $211,043 (11.0%) 0.00 339
2019-09-01 $168,348 (13.0%) $212,428 (11.5%) 0.00 319
2019-10-01 $169,350 (15.7%) $214,616 (14.5%) 0.00 304
2019-11-01 $196,500 (35.5%) $235,877 (22.5%) 0.00 228
2019-12-01 $177,475 (24.8%) $233,145 (23.8%) 0.00 230
2020-01-01 $169,900 (16.5%) $229,161 (18.5%) 0.00 213
2020-02-01 $159,900 (6.8%) $217,760 (9.7%) 0.00 205
2020-03-01 $152,000 (-3.2%) $208,753 (2.5%) 0.00 202
2020-04-01 $152,000 (-7.2%) $212,067 (2.0%) 0.00 193
2020-05-01 $177,000 (10.8%) $237,178 (14.5%) 0.00 177
2020-06-01 $167,125 (4.5%) $252,478 (23.9%) 0.00 159
2020-07-01 $199,000 (23.6%) $273,742 (32.5%) 0.00 151
2020-08-01 $199,900 (19.3%) $274,751 (30.2%) 0.00 144
2020-09-01 $199,900 (18.7%) $259,905 (22.4%) 0.00 139
2020-10-01 $194,500 (14.9%) $264,317 (23.2%) 0.00 129
2020-11-01 $161,725 (-17.7%) $232,768 (-1.3%) 0.00 154
2020-12-01 $170,425 (-4.0%) $240,201 (3.0%) 0.00 129
2021-01-01 $175,000 (3.0%) $228,913 (-0.1%) 0.00 112
2021-02-01 $159,900 (0.0%) $226,961 (4.2%) 0.00 114
2021-03-01 $161,125 (6.0%) $235,545 (12.8%) 0.00 99
2021-04-01 $180,000 (18.4%) $271,915 (28.2%) 0.00 96
2021-05-01 $175,000 (-1.1%) $317,748 (34.0%) 0.00 80
2021-06-01 $175,850 (5.2%) $295,290 (17.0%) 0.00 84
2021-07-01 $222,000 (11.6%) $308,977 (12.9%) 0.00 89
2021-08-01 $172,450 (-13.7%) $299,165 (8.9%) 0.00 91
2021-09-01 $176,225 (-11.8%) $295,410 (13.7%) 0.00 100
2021-10-01 $225,000 (15.7%) $309,220 (17.0%) 0.00 112
2021-11-01 $238,825 (47.7%) $312,257 (34.2%) 0.00 106
2021-12-01 $238,825 (40.1%) $301,358 (25.5%) 0.00 108
2022-01-01 $231,250 (32.1%) $279,142 (21.9%) 0.00 102
2022-02-01 $232,500 (45.4%) $271,860 (19.8%) 0.00 92
2022-03-01 $235,750 (46.3%) $270,961 (15.0%) 0.00 76
2022-04-01 $238,500 (32.5%) $259,933 (-4.4%) 0.00 81
2022-05-01 $273,100 (56.1%) $280,129 (-11.8%) 0.00 89
2022-06-01 $310,850 (76.8%) $306,932 (3.9%) 0.00 100
2022-07-01 $326,900 (47.3%) $308,472 (-0.2%) 0.00 130
2022-08-01 $321,439 (86.4%) $309,188 (3.4%) 0.00 122
2022-09-01 $326,275 (85.2%) $324,745 (9.9%) 0.00 122
2022-10-01 $312,900 (39.1%) $329,456 (6.5%) 0.00 133
2022-11-01 $303,598 (27.1%) $337,299 (8.0%) 0.00 118
2022-12-01 $293,950 (23.1%) $321,360 (6.6%) 0.00 128
2023-01-01 $298,175 (28.9%) $323,726 (16.0%) 0.00 128
2023-02-01 $277,450 (19.3%) $298,882 (9.9%) 0.00 135
2023-03-01 $275,000 (16.7%) $291,849 (7.7%) 0.00 147
2023-04-01 $275,000 (15.3%) $271,797 (4.6%) 0.00 148
2023-05-01 $249,000 (-8.8%) $257,101 (-8.2%) 0.00 168
2023-06-01 $254,450 (-18.1%) $266,414 (-13.2%) 0.00 146
2023-07-01 $274,900 (-15.9%) $283,509 (-8.1%) 0.00 139
2023-08-01 $267,198 (-16.9%) $288,989 (-6.5%) 0.00 145
Orangeburg's median listing price for 2023-08-01 was $267,198, a difference of $-54,241 (-16.9%) versus the prior year and $-7,702 versus the prior month.

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

Orangeburg's average listing price for 2023-08-01 was $288,989, a difference of $-20,199 (-6.5%) versus the prior year and $5,480 versus the prior month.

For the 2023-08-01 period, Orangeburg had 145 MLS listings, a difference of 6 listings (4%) versus the prior month and 23 listings (19%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Orangeburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,806 sqft
2018-02-01 0 days 1,845 sqft
2018-03-01 0 days 1,838 sqft
2018-04-01 0 days 1,855 sqft
2018-05-01 0 days 1,865 sqft
2018-06-01 0 days 1,920 sqft
2018-07-01 0 days 1,814 sqft
2018-08-01 0 days 1,808 sqft
2018-09-01 0 days 1,800 sqft
2018-10-01 0 days 1,780 sqft
2018-11-01 0 days 1,768 sqft
2018-12-01 0 days 1,735 sqft
2019-01-01 0 days 1,730 sqft
2019-02-01 0 days 1,805 sqft
2019-03-01 0 days 1,812 sqft
2019-04-01 0 days 1,808 sqft
2019-05-01 0 days 1,793 sqft
2019-06-01 0 days 1,781 sqft
2019-07-01 0 days 1,824 sqft
2019-08-01 0 days 1,827 sqft
2019-09-01 0 days 1,840 sqft
2019-10-01 0 days 1,851 sqft
2019-11-01 0 days 1,960 sqft
2019-12-01 0 days 1,955 sqft
2020-01-01 0 days 1,859 sqft
2020-02-01 0 days 1,853 sqft
2020-03-01 0 days 1,853 sqft
2020-04-01 0 days 1,868 sqft
2020-05-01 0 days 1,900 sqft
2020-06-01 0 days 1,912 sqft
2020-07-01 0 days 2,012 sqft
2020-08-01 0 days 2,150 sqft
2020-09-01 0 days 2,098 sqft
2020-10-01 0 days 2,095 sqft
2020-11-01 0 days 1,994 sqft
2020-12-01 0 days 1,901 sqft
2021-01-01 0 days 1,850 sqft
2021-02-01 0 days 1,810 sqft
2021-03-01 0 days 1,807 sqft
2021-04-01 0 days 1,862 sqft
2021-05-01 0 days 2,002 sqft
2021-06-01 0 days 1,941 sqft
2021-07-01 0 days 1,905 sqft
2021-08-01 0 days 1,748 sqft
2021-09-01 0 days 1,779 sqft
2021-10-01 0 days 1,905 sqft
2021-11-01 0 days 1,959 sqft
2021-12-01 0 days 1,920 sqft
2022-01-01 0 days 1,963 sqft
2022-02-01 0 days 2,010 sqft
2022-03-01 0 days 1,947 sqft
2022-04-01 0 days 1,919 sqft
2022-05-01 0 days 2,073 sqft
2022-06-01 0 days 2,168 sqft
2022-07-01 0 days 2,142 sqft
2022-08-01 0 days 2,145 sqft
2022-09-01 0 days 2,107 sqft
2022-10-01 0 days 2,100 sqft
2022-11-01 0 days 2,120 sqft
2022-12-01 0 days 2,064 sqft
2023-01-01 0 days 2,007 sqft
2023-02-01 0 days 1,957 sqft
2023-03-01 0 days 1,981 sqft
2023-04-01 0 days 1,934 sqft
2023-05-01 0 days 1,910 sqft
2023-06-01 0 days 1,929 sqft
2023-07-01 0 days 2,000 sqft
2023-08-01 0 days 1,997 sqft
Orangeburg's median listing age (time on market) for 2023-08-01 was 0 days.

Orangeburg's median square footage for active listings during the 2023-08-01 period was 1,997 sqft. One year prior, the average listing was 2,145 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).