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 61 lenders originated 186 FHA loans during 2023. The total origination value was $37,480,000, with an average FHA loan value of $201,505.

Orangeburg FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Orangeburg averaged 6.79% for the week of 2024-06-07, compared to the national average (all FHA variants) of 6.692% for the same period.

Orangeburg's average FHA mortgage closing costs are $7,314.

The average rate for the prior week (2024-05-31) was 6.78% and one month ago for the week of 2024-05-03, the average rate was 6.88%.

The average rate one year ago was 6.54%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.89%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 17 6.25% $8,852
Ameris Bank 13 6.75% $6,948
GUILD MORTGAGE COMPANY 10 6.83% $10,462
UNITED WHOLESALE MORTGAGE, LLC 9 6.64% $11,034
DHI MORTGAGE COMPANY, LTD. 7 5.14% $7,851
CAROLINA ONE MORTGAGE, LLC 6 6.94% $9,989
PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.58% $11,320
CMG MORTGAGE, INC. 5 7.35% $12,300
CROSSCOUNTRY MORTGAGE, LLC 5 6.54% $11,093
BROKER SOLUTIONS, INC. 4 6.66% $7,284
MIDLAND MORTGAGE CORPORATION 4 6.91% $9,016
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.56% $10,198
AMERICAN PACIFIC MORTGAGE CORPORATION 4 5.88% $17,524
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.66% $12,054
NEWREZ LLC 3 6.42% $10,915
THRIVE MORTGAGE, LLC 3 6.42% $10,746
AMERISAVE MORTGAGE CORPORATION 3 6.50% $9,387
CARDINAL FINANCIAL 3 6.33% $12,571
PENNYMAC LOAN SERVICES, LLC 2 5.88% $5,710
AMERICAN FINANCIAL NETWORK, INC. 2 7.88% $9,815
AMERICAN FINANCIAL RESOURCES, INC. 2 6.13% $10,760
Carrington Mortgage Services, LLC 2 5.88% $14,821
First-Citizens Bank & Trust Company 2 6.50% $8,538
First Palmetto Bank 2 6.63% $7,409
HOMEOWNERS FINANCIAL GROUP USA, LLC 2 6.88% $8,556
INTERLINC MORTGAGE SERVICES, LLC 2 6.81% $7,326
LOANDEPOT.COM, LLC 2 6.25% $9,666
LOANPAL, LLC 2 6.13% $12,322
Mortgage Research Center, LLC 2 6.62% $9,394
Mr. Cooper ( Nationstar Mortgage ) 2 6.50% $7,830
NATION ONE MORTGAGE CORPORATION 2 6.94% $14,944
Princeton Mortgage Corporation 2 6.69% $10,752
South State Bank 2 6.56% $6,673
The Federal Savings Bank 1 7.25% $14,001
MICHIGAN MUTUAL, INC. 1 7.13% $16,021
EVERETT FINANCIAL, INC. 1 6.63% $14,327
MILEND, INC. 1 6.13% $8,736
MORTGAGE EQUITY PARTNERS LLC 1 6.00% $14,192
Atlantic Coast Mortgage, LLC 1 6.49% $12,409
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.63% $5,118
TOWNE MORTGAGE COMPANY 1 6.75% $5,782
Truist 1 6.75% $7,657
Equity Prime Mortgage LLC 1 6.75% $13,845
NFM, INC. 1 8.25% $10,951
Northpointe Bank 1 6.25% $7,986
NTFN, INC. 1 5.75% $8,989
ACADEMY MORTGAGE CORPORATION 1 7.25% $7,893
PENTAGON FEDERAL CREDIT UNION 1 5.75% $6,516
Plains Commerce Bank 1 6.50% $8,046
DELMAR FINANCIAL COMPANY 1 7.13% $8,313
Century Mortgage Company DBA Century Lending Company 1 6.99% $9,991
UNION HOME MORTGAGE CORP. 1 7.25% $7,620
Flagstar Bank, FSB 1 6.00% $6,010
GUARANTEED RATE AFFINITY, LLC 1 7.13% $6,476
First Community Bank 1 6.50% $9,826
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.63% $9,881
Bank of America 1 5.38% $6,621
HOMESIDE FINANCIAL, LLC 1 6.88% $9,398
RELIANCE FIRST CAPITAL, LLC 1 6.63% $22,957
LEADERONE FINANCIAL CORPORATION 1 6.49% $10,489
Assurance Financial Group, L.L.C. 1 7.13% $10,729

The top Orangeburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 17 FHA loans originated. Their average total fees are $8,852, which is $1,905 higher than the next largest lender, Ameris Bank.

The lowest fee Orangeburg FHA lenders (with over 10 loans originated) are Ameris Bank ($6,948), QUICKEN LOANS, LLC ($8,852), GUILD MORTGAGE COMPANY ($10,462), .

The lowest rate Orangeburg FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.25%), Ameris Bank (6.75%), GUILD MORTGAGE COMPANY (6.83%), .

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 $131,900 (-5.7%) $174,128 (1.5%) 0.00 341
2018-02-01 $135,575 (-0.5%) $181,484 (6.6%) 0.00 345
2018-03-01 $139,250 (4.1%) $184,764 (8.8%) 0.00 349
2018-04-01 $138,625 (2.8%) $186,375 (8.4%) 0.00 366
2018-05-01 $139,575 (0.8%) $189,532 (6.7%) 0.00 360
2018-06-01 $139,900 (1.6%) $190,540 (6.4%) 0.00 362
2018-07-01 $139,900 (0.0%) $188,679 (6.2%) 0.00 379
2018-08-01 $147,718 (10.5%) $192,120 (14.2%) 0.00 387
2018-09-01 $148,995 (11.2%) $192,559 (13.2%) 0.00 393
2018-10-01 $146,450 (12.4%) $189,314 (13.9%) 0.00 389
2018-11-01 $145,225 (11.3%) $194,601 (15.4%) 0.00 387
2018-12-01 $142,500 (8.8%) $190,409 (13.3%) 0.00 374
2019-01-01 $146,173 (10.8%) $194,834 (11.9%) 0.00 346
2019-02-01 $149,700 (10.4%) $198,464 (9.4%) 0.00 344
2019-03-01 $157,000 (12.8%) $204,329 (10.6%) 0.00 358
2019-04-01 $163,750 (18.1%) $209,543 (12.4%) 0.00 370
2019-05-01 $159,800 (14.5%) $207,088 (9.3%) 0.00 375
2019-06-01 $159,900 (14.3%) $203,806 (7.0%) 0.00 365
2019-07-01 $160,950 (15.1%) $206,626 (9.5%) 0.00 358
2019-08-01 $167,632 (13.5%) $211,162 (9.9%) 0.00 339
2019-09-01 $168,655 (13.2%) $212,727 (10.5%) 0.00 319
2019-10-01 $169,675 (15.9%) $215,061 (13.6%) 0.00 303
2019-11-01 $196,500 (35.3%) $235,877 (21.2%) 0.00 228
2019-12-01 $177,475 (24.5%) $233,145 (22.4%) 0.00 230
2020-01-01 $169,800 (16.2%) $228,470 (17.3%) 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 (2.2%) 0.00 202
2020-04-01 $152,000 (-7.2%) $212,067 (1.2%) 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 (30.1%) 0.00 144
2020-09-01 $199,900 (18.5%) $259,905 (22.2%) 0.00 139
2020-10-01 $194,500 (14.6%) $264,317 (22.9%) 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 (3.1%) $228,913 (0.2%) 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 $239,900 (48.3%) $311,951 (34.0%) 0.00 107
2021-12-01 $238,825 (40.1%) $301,358 (25.5%) 0.00 108
2022-01-01 $231,250 (32.1%) $279,745 (22.2%) 0.00 102
2022-02-01 $236,798 (48.1%) $272,562 (20.1%) 0.00 93
2022-03-01 $237,125 (47.2%) $271,778 (15.4%) 0.00 77
2022-04-01 $238,500 (32.5%) $259,933 (-4.4%) 0.00 81
2022-05-01 $273,100 (56.1%) $279,842 (-11.9%) 0.00 89
2022-06-01 $310,000 (76.3%) $306,578 (3.8%) 0.00 99
2022-07-01 $326,900 (47.3%) $308,209 (-0.3%) 0.00 130
2022-08-01 $318,473 (84.7%) $308,917 (3.3%) 0.00 122
2022-09-01 $326,650 (85.4%) $325,277 (10.1%) 0.00 124
2022-10-01 $314,900 (40.0%) $330,064 (6.7%) 0.00 134
2022-11-01 $304,950 (27.1%) $337,875 (8.3%) 0.00 120
2022-12-01 $296,450 (24.1%) $321,936 (6.8%) 0.00 130
2023-01-01 $304,175 (31.5%) $324,258 (15.9%) 0.00 130
2023-02-01 $269,750 (13.9%) $297,968 (9.3%) 0.00 133
2023-03-01 $272,475 (14.9%) $290,854 (7.0%) 0.00 145
2023-04-01 $275,000 (15.3%) $271,316 (4.4%) 0.00 147
2023-05-01 $249,000 (-8.8%) $256,734 (-8.3%) 0.00 168
2023-06-01 $254,450 (-17.9%) $266,414 (-13.1%) 0.00 146
2023-07-01 $274,900 (-15.9%) $283,509 (-8.0%) 0.00 139
2023-08-01 $267,198 (-16.1%) $288,989 (-6.5%) 0.00 145
2023-09-01 $250,000 (-23.5%) $271,642 (-16.5%) 0.00 145
2023-10-01 $259,925 (-17.5%) $293,088 (-11.2%) 0.00 140
2023-11-01 $263,450 (-13.6%) $289,401 (-14.4%) 0.00 158
2023-12-01 $279,900 (-5.6%) $300,727 (-6.6%) 0.00 177
2024-01-01 $269,525 (-11.4%) $299,950 (-7.5%) 0.00 172
2024-02-01 $265,949 (-1.4%) $303,963 (2.0%) 0.00 186
2024-03-01 $275,000 (0.9%) $325,597 (12.0%) 0.00 201
2024-04-01 $274,450 (-0.2%) $309,256 (14.0%) 0.00 189
2024-05-01 $269,500 (8.2%) $302,215 (17.7%) 0.00 183
Orangeburg's median listing price for 2024-05-01 was $269,500, a difference of $20,500 (8.2%) versus the prior year and $-4,950 versus the prior month.

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

Orangeburg's average listing price for 2024-05-01 was $302,215, a difference of $45,481 (17.7%) versus the prior year and $-7,041 versus the prior month.

For the 2024-05-01 period, Orangeburg had 183 MLS listings, a difference of -6 listings (-3%) versus the prior month and 15 listings (9%) 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 1,805 sqft
2018-02-01 0 days 1,839 sqft
2018-03-01 0 days 1,830 sqft
2018-04-01 0 days 1,852 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 1,783 sqft
2018-11-01 0 days 1,769 sqft
2018-12-01 0 days 1,740 sqft
2019-01-01 0 days 1,732 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 1,825 sqft
2019-09-01 0 days 1,835 sqft
2019-10-01 0 days 1,847 sqft
2019-11-01 0 days 1,960 sqft
2019-12-01 0 days 1,955 sqft
2020-01-01 0 days 1,860 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 2,000 sqft
2022-02-01 0 days 2,005 sqft
2022-03-01 0 days 1,952 sqft
2022-04-01 0 days 1,919 sqft
2022-05-01 0 days 2,073 sqft
2022-06-01 0 days 2,179 sqft
2022-07-01 0 days 2,150 sqft
2022-08-01 0 days 2,149 sqft
2022-09-01 0 days 2,121 sqft
2022-10-01 0 days 2,109 sqft
2022-11-01 0 days 2,141 sqft
2022-12-01 0 days 2,095 sqft
2023-01-01 0 days 2,010 sqft
2023-02-01 0 days 1,934 sqft
2023-03-01 0 days 1,952 sqft
2023-04-01 0 days 1,932 sqft
2023-05-01 0 days 1,906 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
2023-09-01 0 days 1,908 sqft
2023-10-01 0 days 1,924 sqft
2023-11-01 0 days 1,770 sqft
2023-12-01 0 days 1,774 sqft
2024-01-01 0 days 1,773 sqft
2024-02-01 0 days 1,773 sqft
2024-03-01 0 days 1,774 sqft
2024-04-01 0 days 1,774 sqft
2024-05-01 0 days 1,720 sqft
Orangeburg's median listing age (time on market) for 2024-05-01 was 0 days.

Orangeburg's median square footage for active listings during the 2024-05-01 period was 1,720 sqft. One year prior, the average listing was 1,906 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).