Orangeburg FHA Loan Rates, Closing Costs & Stats

Orangeburg, SC

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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.

    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).