Oxford FHA Loan Rates, Closing Costs & Stats
Oxford, MS
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.
Oxford's 31 lenders originated 78 FHA loans during 2022. The total origination value was $16,470,000, with an average FHA loan value of $211,154.
Oxford FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Oxford
averaged
-0.65%
for the week of 2023-11-24, compared to the national average (all FHA variants) of
0% for the same period.
Oxford's average FHA mortgage closing costs are $6,496.
The average rate for the prior week (2023-11-17) was
6.64% and
one month ago for the week of 2023-10-20, the
average rate was 6.95%.
The average rate one year ago was 5.87%.
For refis of the same type during the week of 2023-11-24, the average rate
was -1.1%.
Oxford 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 Oxford level.
The top Oxford FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
9 FHA loans originated. Their average total fees are
$9,748, which is $2,407
higher than the next largest lender,
BancorpSouth.
The lowest fee Oxford FHA lenders (with over 10 loans originated) are
.
The lowest rate Oxford FHA lenders (with over 10 loans originated) are
.
Oxford FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
OXFORD, MS | LAFAYETTE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
OXFORD, MS | LAFAYETTE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Oxford (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 | $317,700 (-6.0%) | $369,723 (-6.8%) | 0.00 | 393 |
2018-02-01 | $319,950 (-4.2%) | $369,564 (-4.5%) | 0.00 | 404 |
2018-03-01 | $329,000 (-3.0%) | $378,072 (-4.7%) | 0.00 | 411 |
2018-04-01 | $336,000 (-1.1%) | $379,207 (-4.8%) | 0.00 | 431 |
2018-05-01 | $325,000 (-6.3%) | $369,051 (-10.0%) | 0.00 | 456 |
2018-06-01 | $309,000 (-11.1%) | $364,260 (-10.8%) | 0.00 | 469 |
2018-07-01 | $299,450 (-14.4%) | $360,143 (-9.7%) | 0.00 | 472 |
2018-08-01 | $284,925 (-11.9%) | $348,371 (-8.9%) | 0.00 | 486 |
2018-09-01 | $265,000 (-19.7%) | $337,904 (-12.5%) | 0.00 | 517 |
2018-10-01 | $259,175 (-21.2%) | $330,121 (-11.7%) | 0.00 | 515 |
2018-11-01 | $259,225 (-19.0%) | $330,076 (-9.7%) | 0.00 | 490 |
2018-12-01 | $261,000 (-17.1%) | $334,293 (-6.0%) | 0.00 | 482 |
2019-01-01 | $257,950 (-18.8%) | $335,440 (-9.3%) | 0.00 | 459 |
2019-02-01 | $251,100 (-21.5%) | $336,028 (-9.1%) | 0.00 | 505 |
2019-03-01 | $256,857 (-21.9%) | $338,534 (-10.5%) | 0.00 | 528 |
2019-04-01 | $260,482 (-22.5%) | $340,109 (-10.3%) | 0.00 | 551 |
2019-05-01 | $269,350 (-17.1%) | $352,120 (-4.6%) | 0.00 | 566 |
2019-06-01 | $274,900 (-11.0%) | $363,168 (-0.3%) | 0.00 | 578 |
2019-07-01 | $274,950 (-8.2%) | $370,602 (2.9%) | 0.00 | 595 |
2019-08-01 | $276,291 (-3.0%) | $374,882 (7.6%) | 0.00 | 557 |
2019-09-01 | $278,377 (5.1%) | $380,106 (12.5%) | 0.00 | 509 |
2019-10-01 | $282,450 (9.0%) | $381,152 (15.5%) | 0.00 | 476 |
2019-11-01 | $279,250 (7.7%) | $381,874 (15.7%) | 0.00 | 458 |
2019-12-01 | $269,800 (3.4%) | $372,124 (11.3%) | 0.00 | 407 |
2020-01-01 | $265,000 (2.7%) | $381,493 (13.7%) | 0.00 | 382 |
2020-02-01 | $259,900 (3.5%) | $379,607 (13.0%) | 0.00 | 433 |
2020-03-01 | $260,350 (1.4%) | $370,280 (9.4%) | 0.00 | 446 |
2020-04-01 | $263,350 (1.1%) | $367,232 (8.0%) | 0.00 | 448 |
2020-05-01 | $263,750 (-2.1%) | $373,395 (6.0%) | 0.00 | 459 |
2020-06-01 | $242,863 (-11.7%) | $360,713 (-0.7%) | 0.00 | 487 |
2020-07-01 | $255,525 (-7.1%) | $379,317 (2.4%) | 0.00 | 477 |
2020-08-01 | $265,500 (-3.9%) | $382,230 (2.0%) | 0.00 | 487 |
2020-09-01 | $267,250 (-4.0%) | $378,974 (-0.3%) | 0.00 | 480 |
2020-10-01 | $269,000 (-4.8%) | $395,884 (3.9%) | 0.00 | 477 |
2020-11-01 | $265,500 (-4.9%) | $404,832 (6.0%) | 0.00 | 448 |
2020-12-01 | $262,075 (-2.9%) | $381,860 (2.6%) | 0.00 | 434 |
2021-01-01 | $264,200 (-0.3%) | $378,490 (-0.8%) | 0.00 | 408 |
2021-02-01 | $291,625 (12.2%) | $411,358 (8.4%) | 0.00 | 375 |
2021-03-01 | $297,450 (14.3%) | $419,406 (13.3%) | 0.00 | 355 |
2021-04-01 | $348,500 (32.3%) | $466,469 (27.0%) | 0.00 | 323 |
2021-05-01 | $379,000 (43.7%) | $517,562 (38.6%) | 0.00 | 235 |
2021-06-01 | $396,725 (63.4%) | $524,392 (45.4%) | 0.00 | 235 |
2021-07-01 | $429,950 (68.3%) | $551,982 (45.5%) | 0.00 | 219 |
2021-08-01 | $418,130 (57.5%) | $539,346 (41.1%) | 0.00 | 208 |
2021-09-01 | $399,975 (49.7%) | $546,517 (44.2%) | 0.00 | 206 |
2021-10-01 | $389,000 (44.6%) | $546,820 (38.1%) | 0.00 | 181 |
2021-11-01 | $389,000 (46.5%) | $559,956 (38.3%) | 0.00 | 163 |
2021-12-01 | $429,106 (63.7%) | $577,633 (51.3%) | 0.00 | 132 |
2022-01-01 | $449,900 (70.3%) | $597,110 (57.8%) | 0.00 | 108 |
2022-02-01 | $490,575 (68.2%) | $666,941 (62.1%) | 0.00 | 82 |
2022-03-01 | $481,850 (62.0%) | $608,108 (45.0%) | 0.00 | 98 |
2022-04-01 | $499,000 (43.2%) | $622,545 (33.5%) | 0.00 | 99 |
2022-05-01 | $434,913 (14.8%) | $575,444 (11.2%) | 0.00 | 116 |
2022-06-01 | $398,000 (0.3%) | $545,338 (4.0%) | 0.00 | 141 |
2022-07-01 | $399,500 (-7.1%) | $538,916 (-2.4%) | 0.00 | 170 |
2022-08-01 | $446,950 (6.9%) | $551,186 (2.2%) | 0.00 | 163 |
2022-09-01 | $427,500 (6.9%) | $561,960 (2.8%) | 0.00 | 155 |
2022-10-01 | $454,900 (16.9%) | $560,708 (2.5%) | 0.00 | 161 |
2022-11-01 | $495,000 (27.3%) | $575,972 (2.9%) | 0.00 | 151 |
2022-12-01 | $495,000 (15.4%) | $581,935 (0.7%) | 0.00 | 122 |
2023-01-01 | $475,000 (5.6%) | $552,489 (-7.5%) | 0.00 | 135 |
2023-02-01 | $486,125 (-0.9%) | $568,350 (-14.8%) | 0.00 | 126 |
2023-03-01 | $449,000 (-6.8%) | $539,781 (-11.2%) | 0.00 | 129 |
2023-04-01 | $449,900 (-9.8%) | $546,004 (-12.3%) | 0.00 | 138 |
2023-05-01 | $447,500 (2.9%) | $562,559 (-2.2%) | 0.00 | 131 |
2023-06-01 | $445,000 (11.8%) | $559,627 (2.6%) | 0.00 | 133 |
2023-07-01 | $450,000 (12.6%) | $599,966 (11.3%) | 0.00 | 130 |
2023-08-01 | $479,450 (7.3%) | $599,112 (8.7%) | 0.00 | 144 |
2023-09-01 | $495,500 (15.9%) | $613,450 (9.2%) | 0.00 | 162 |
2023-10-01 | $497,250 (9.3%) | $614,164 (9.5%) | 0.00 | 152 |
Oxford's median listing price comes in at 0% of the national average.
Oxford's average listing price for 2023-10-01 was $614,164, a difference of $53,456 (9.5%) versus the prior year and $714 versus the prior month.
For the 2023-10-01 period, Oxford had 152 MLS listings, a difference of -10 listings (-6%) versus the prior month and -9 listings (-6%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Oxford (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,927 sqft |
2018-02-01 | 0 days | 2,048 sqft |
2018-03-01 | 0 days | 2,068 sqft |
2018-04-01 | 0 days | 2,072 sqft |
2018-05-01 | 0 days | 2,074 sqft |
2018-06-01 | 0 days | 2,060 sqft |
2018-07-01 | 0 days | 2,033 sqft |
2018-08-01 | 0 days | 1,953 sqft |
2018-09-01 | 0 days | 1,872 sqft |
2018-10-01 | 0 days | 1,845 sqft |
2018-11-01 | 0 days | 1,831 sqft |
2018-12-01 | 0 days | 1,827 sqft |
2019-01-01 | 0 days | 1,802 sqft |
2019-02-01 | 0 days | 1,802 sqft |
2019-03-01 | 0 days | 1,818 sqft |
2019-04-01 | 0 days | 1,829 sqft |
2019-05-01 | 0 days | 1,845 sqft |
2019-06-01 | 0 days | 1,858 sqft |
2019-07-01 | 0 days | 1,859 sqft |
2019-08-01 | 0 days | 1,860 sqft |
2019-09-01 | 0 days | 1,860 sqft |
2019-10-01 | 0 days | 1,862 sqft |
2019-11-01 | 0 days | 1,859 sqft |
2019-12-01 | 0 days | 1,839 sqft |
2020-01-01 | 0 days | 1,850 sqft |
2020-02-01 | 0 days | 1,836 sqft |
2020-03-01 | 0 days | 1,806 sqft |
2020-04-01 | 0 days | 1,806 sqft |
2020-05-01 | 0 days | 1,800 sqft |
2020-06-01 | 0 days | 1,758 sqft |
2020-07-01 | 0 days | 1,800 sqft |
2020-08-01 | 0 days | 1,847 sqft |
2020-09-01 | 0 days | 1,858 sqft |
2020-10-01 | 0 days | 1,854 sqft |
2020-11-01 | 0 days | 1,831 sqft |
2020-12-01 | 0 days | 1,813 sqft |
2021-01-01 | 0 days | 1,860 sqft |
2021-02-01 | 0 days | 1,863 sqft |
2021-03-01 | 0 days | 1,868 sqft |
2021-04-01 | 0 days | 2,033 sqft |
2021-05-01 | 0 days | 2,100 sqft |
2021-06-01 | 0 days | 2,120 sqft |
2021-07-01 | 0 days | 2,248 sqft |
2021-08-01 | 0 days | 2,183 sqft |
2021-09-01 | 0 days | 2,053 sqft |
2021-10-01 | 0 days | 2,053 sqft |
2021-11-01 | 0 days | 2,052 sqft |
2021-12-01 | 0 days | 2,049 sqft |
2022-01-01 | 0 days | 2,039 sqft |
2022-02-01 | 0 days | 2,162 sqft |
2022-03-01 | 0 days | 2,062 sqft |
2022-04-01 | 0 days | 2,350 sqft |
2022-05-01 | 0 days | 2,097 sqft |
2022-06-01 | 0 days | 2,022 sqft |
2022-07-01 | 0 days | 1,997 sqft |
2022-08-01 | 0 days | 2,021 sqft |
2022-09-01 | 0 days | 2,060 sqft |
2022-10-01 | 0 days | 2,061 sqft |
2022-11-01 | 0 days | 2,272 sqft |
2022-12-01 | 0 days | 2,346 sqft |
2023-01-01 | 0 days | 2,098 sqft |
2023-02-01 | 0 days | 2,077 sqft |
2023-03-01 | 0 days | 1,912 sqft |
2023-04-01 | 0 days | 1,925 sqft |
2023-05-01 | 0 days | 1,922 sqft |
2023-06-01 | 0 days | 2,077 sqft |
2023-07-01 | 0 days | 2,100 sqft |
2023-08-01 | 0 days | 2,122 sqft |
2023-09-01 | 0 days | 2,142 sqft |
2023-10-01 | 0 days | 2,144 sqft |
Oxford's median square footage for active listings during the 2023-10-01 period was 2,144 sqft. One year prior, the average listing was 2,061 sqft.