Picayune FHA Loan Rates, Closing Costs & Stats
Picayune, 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.
Picayune's 49 lenders originated 194 FHA loans during 2023. The total origination value was $39,200,000, with an average FHA loan value of $202,062.
Picayune FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Picayune
averaged
-0.18%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Picayune's average FHA mortgage closing costs are $7,245.
The average rate for the prior week (2024-11-22) was
6.52% and
one month ago for the week of 2024-10-25, the
average rate was 5.99%.
The average rate one year ago was 7.18%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.1%.
Picayune 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 Picayune level.
The top Picayune FHA lender as defined by loan originations is PLANET HOME LENDING, LLC, with
34 FHA loans originated. Their average total fees are
$11,274, which is $3,751
higher than the next largest lender,
KEESLER.
The lowest fee Picayune FHA lenders (with over 10 loans originated) are
GMFS LLC ($6,800), KEESLER ($7,523), QUICKEN LOANS, LLC ($9,151), EUSTIS AND AMERICAN MORTGAGE COMPANY ($9,200) and PLANET HOME LENDING, LLC ($11,274).
The lowest rate Picayune FHA lenders (with over 10 loans originated) are
KEESLER (5.42%), GMFS LLC (6.40%), QUICKEN LOANS, LLC (6.42%), PLANET HOME LENDING, LLC (6.73%) and EUSTIS AND AMERICAN MORTGAGE COMPANY (6.85%).
Picayune FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
PICAYUNE, MS | PEARL RIVER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
PICAYUNE, MS | PEARL RIVER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Picayune (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 | $175,000 (-2.7%) | $262,403 (12.4%) | 0.00 | 316 |
2018-02-01 | $173,650 (-0.8%) | $262,310 (12.5%) | 0.00 | 318 |
2018-03-01 | $171,900 (-2.0%) | $268,859 (14.6%) | 0.00 | 310 |
2018-04-01 | $181,950 (7.0%) | $275,722 (20.3%) | 0.00 | 300 |
2018-05-01 | $182,075 (5.9%) | $286,120 (24.6%) | 0.00 | 309 |
2018-06-01 | $189,000 (10.4%) | $287,590 (23.3%) | 0.00 | 309 |
2018-07-01 | $186,875 (3.9%) | $291,029 (22.3%) | 0.00 | 297 |
2018-08-01 | $185,750 (2.9%) | $290,111 (21.5%) | 0.00 | 297 |
2018-09-01 | $182,700 (1.6%) | $289,759 (21.5%) | 0.00 | 304 |
2018-10-01 | $179,850 (-5.3%) | $289,097 (16.7%) | 0.00 | 287 |
2018-11-01 | $169,900 (-7.1%) | $265,367 (6.0%) | 0.00 | 286 |
2018-12-01 | $175,000 (-2.2%) | $271,250 (3.3%) | 0.00 | 277 |
2019-01-01 | $174,950 (0.0%) | $263,796 (0.5%) | 0.00 | 268 |
2019-02-01 | $179,900 (3.6%) | $273,419 (4.2%) | 0.00 | 273 |
2019-03-01 | $182,086 (5.9%) | $277,548 (3.2%) | 0.00 | 286 |
2019-04-01 | $185,000 (1.7%) | $282,967 (2.6%) | 0.00 | 294 |
2019-05-01 | $189,900 (4.3%) | $286,558 (0.2%) | 0.00 | 293 |
2019-06-01 | $189,900 (0.5%) | $284,459 (-1.1%) | 0.00 | 297 |
2019-07-01 | $180,450 (-3.4%) | $266,249 (-8.5%) | 0.00 | 297 |
2019-08-01 | $182,391 (-1.8%) | $267,263 (-7.9%) | 0.00 | 306 |
2019-09-01 | $186,502 (2.1%) | $268,391 (-7.4%) | 0.00 | 304 |
2019-10-01 | $188,893 (5.0%) | $269,042 (-6.9%) | 0.00 | 304 |
2019-11-01 | $179,900 (5.9%) | $255,005 (-3.9%) | 0.00 | 298 |
2019-12-01 | $172,500 (-1.4%) | $244,449 (-9.9%) | 0.00 | 284 |
2020-01-01 | $172,500 (-1.4%) | $235,148 (-10.9%) | 0.00 | 258 |
2020-02-01 | $174,950 (-2.8%) | $237,137 (-13.3%) | 0.00 | 260 |
2020-03-01 | $180,825 (-0.7%) | $242,491 (-12.6%) | 0.00 | 232 |
2020-04-01 | $186,000 (0.5%) | $253,113 (-10.6%) | 0.00 | 214 |
2020-05-01 | $199,900 (5.3%) | $275,783 (-3.8%) | 0.00 | 195 |
2020-06-01 | $197,500 (4.0%) | $287,986 (1.2%) | 0.00 | 178 |
2020-07-01 | $199,990 (10.8%) | $288,707 (8.4%) | 0.00 | 178 |
2020-08-01 | $207,000 (13.5%) | $291,879 (9.2%) | 0.00 | 160 |
2020-09-01 | $247,725 (32.8%) | $305,905 (14.0%) | 0.00 | 146 |
2020-10-01 | $214,950 (13.8%) | $295,192 (9.7%) | 0.00 | 150 |
2020-11-01 | $227,450 (26.4%) | $307,365 (20.5%) | 0.00 | 140 |
2020-12-01 | $227,450 (31.9%) | $320,536 (31.1%) | 0.00 | 144 |
2021-01-01 | $225,000 (30.4%) | $315,414 (34.1%) | 0.00 | 140 |
2021-02-01 | $227,350 (30.0%) | $327,247 (38.0%) | 0.00 | 126 |
2021-03-01 | $217,500 (20.3%) | $331,255 (36.6%) | 0.00 | 106 |
2021-04-01 | $237,000 (27.4%) | $349,297 (38.0%) | 0.00 | 88 |
2021-05-01 | $237,000 (18.6%) | $428,834 (55.5%) | 0.00 | 79 |
2021-06-01 | $239,750 (21.4%) | $425,689 (47.8%) | 0.00 | 86 |
2021-07-01 | $243,600 (21.8%) | $501,161 (73.6%) | 0.00 | 96 |
2021-08-01 | $229,000 (10.6%) | $462,322 (58.4%) | 0.00 | 101 |
2021-09-01 | $237,860 (-4.0%) | $465,657 (52.2%) | 0.00 | 103 |
2021-10-01 | $229,700 (6.9%) | $388,306 (31.5%) | 0.00 | 123 |
2021-11-01 | $224,900 (-1.1%) | $380,161 (23.7%) | 0.00 | 124 |
2021-12-01 | $237,080 (4.2%) | $391,327 (22.1%) | 0.00 | 112 |
2022-01-01 | $233,000 (3.6%) | $402,965 (27.8%) | 0.00 | 101 |
2022-02-01 | $228,000 (0.3%) | $428,648 (31.0%) | 0.00 | 89 |
2022-03-01 | $229,500 (5.5%) | $430,398 (29.9%) | 0.00 | 85 |
2022-04-01 | $250,050 (5.5%) | $460,690 (31.9%) | 0.00 | 85 |
2022-05-01 | $254,846 (7.5%) | $442,764 (3.3%) | 0.00 | 97 |
2022-06-01 | $260,000 (8.5%) | $419,863 (-1.4%) | 0.00 | 116 |
2022-07-01 | $262,500 (7.8%) | $439,876 (-12.2%) | 0.00 | 139 |
2022-08-01 | $259,296 (13.2%) | $439,249 (-5.0%) | 0.00 | 145 |
2022-09-01 | $258,725 (8.8%) | $385,703 (-17.2%) | 0.00 | 157 |
2022-10-01 | $269,450 (17.3%) | $351,114 (-9.6%) | 0.00 | 151 |
2022-11-01 | $266,125 (18.3%) | $345,645 (-9.1%) | 0.00 | 161 |
2022-12-01 | $265,250 (11.9%) | $347,320 (-11.3%) | 0.00 | 164 |
2023-01-01 | $261,330 (12.2%) | $334,589 (-17.0%) | 0.00 | 145 |
2023-02-01 | $259,923 (14.0%) | $317,154 (-26.0%) | 0.00 | 125 |
2023-03-01 | $259,945 (13.3%) | $330,202 (-23.3%) | 0.00 | 134 |
2023-04-01 | $269,000 (7.6%) | $362,682 (-21.3%) | 0.00 | 124 |
2023-05-01 | $264,450 (3.8%) | $376,307 (-15.0%) | 0.00 | 127 |
2023-06-01 | $286,625 (10.2%) | $392,785 (-6.5%) | 0.00 | 124 |
2023-07-01 | $267,450 (1.9%) | $347,848 (-20.9%) | 0.00 | 121 |
2023-08-01 | $264,500 (2.0%) | $335,157 (-23.7%) | 0.00 | 133 |
2023-09-01 | $280,000 (8.2%) | $355,496 (-7.8%) | 0.00 | 165 |
2023-10-01 | $281,875 (4.6%) | $358,075 (2.0%) | 0.00 | 174 |
2023-11-01 | $289,725 (8.9%) | $369,489 (6.9%) | 0.00 | 168 |
2023-12-01 | $281,755 (6.2%) | $378,863 (9.1%) | 0.00 | 170 |
2024-01-01 | $290,000 (11.0%) | $390,364 (16.7%) | 0.00 | 155 |
2024-02-01 | $283,005 (8.9%) | $393,303 (24.0%) | 0.00 | 152 |
2024-03-01 | $287,500 (10.6%) | $395,102 (19.7%) | 0.00 | 161 |
2024-04-01 | $299,700 (11.4%) | $400,065 (10.3%) | 0.00 | 166 |
2024-05-01 | $318,750 (20.5%) | $379,109 (0.7%) | 0.00 | 172 |
2024-06-01 | $320,000 (11.6%) | $378,686 (-3.6%) | 0.00 | 182 |
2024-07-01 | $316,250 (18.3%) | $370,366 (6.5%) | 0.00 | 203 |
2024-08-01 | $312,000 (18.0%) | $366,271 (9.3%) | 0.00 | 207 |
2024-09-01 | $306,400 (9.4%) | $362,722 (2.0%) | 0.00 | 226 |
2024-10-01 | $296,450 (5.2%) | $355,276 (-0.8%) | 0.00 | 230 |
Picayune's median listing price comes in at 0% of the national average.
Picayune's average listing price for 2024-10-01 was $355,276, a difference of $-2,799 (-0.8%) versus the prior year and $-7,446 versus the prior month.
For the 2024-10-01 period, Picayune had 230 MLS listings, a difference of 4 listings (2%) versus the prior month and 56 listings (32%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Picayune (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,001 sqft |
2018-02-01 | 0 days | 2,000 sqft |
2018-03-01 | 0 days | 1,998 sqft |
2018-04-01 | 0 days | 2,025 sqft |
2018-05-01 | 0 days | 2,002 sqft |
2018-06-01 | 0 days | 1,999 sqft |
2018-07-01 | 0 days | 1,988 sqft |
2018-08-01 | 0 days | 1,997 sqft |
2018-09-01 | 0 days | 2,016 sqft |
2018-10-01 | 0 days | 2,002 sqft |
2018-11-01 | 0 days | 1,935 sqft |
2018-12-01 | 0 days | 1,985 sqft |
2019-01-01 | 0 days | 1,984 sqft |
2019-02-01 | 0 days | 1,983 sqft |
2019-03-01 | 0 days | 1,968 sqft |
2019-04-01 | 0 days | 1,965 sqft |
2019-05-01 | 0 days | 1,985 sqft |
2019-06-01 | 0 days | 2,000 sqft |
2019-07-01 | 0 days | 1,928 sqft |
2019-08-01 | 0 days | 1,904 sqft |
2019-09-01 | 0 days | 1,910 sqft |
2019-10-01 | 0 days | 1,913 sqft |
2019-11-01 | 0 days | 1,874 sqft |
2019-12-01 | 0 days | 1,884 sqft |
2020-01-01 | 0 days | 1,846 sqft |
2020-02-01 | 0 days | 1,797 sqft |
2020-03-01 | 0 days | 1,817 sqft |
2020-04-01 | 0 days | 1,847 sqft |
2020-05-01 | 0 days | 1,932 sqft |
2020-06-01 | 0 days | 1,966 sqft |
2020-07-01 | 0 days | 1,952 sqft |
2020-08-01 | 0 days | 1,945 sqft |
2020-09-01 | 0 days | 2,167 sqft |
2020-10-01 | 0 days | 2,142 sqft |
2020-11-01 | 0 days | 2,108 sqft |
2020-12-01 | 0 days | 2,067 sqft |
2021-01-01 | 0 days | 2,096 sqft |
2021-02-01 | 0 days | 2,141 sqft |
2021-03-01 | 0 days | 2,148 sqft |
2021-04-01 | 0 days | 2,254 sqft |
2021-05-01 | 0 days | 2,117 sqft |
2021-06-01 | 0 days | 2,089 sqft |
2021-07-01 | 0 days | 2,011 sqft |
2021-08-01 | 0 days | 1,974 sqft |
2021-09-01 | 0 days | 2,074 sqft |
2021-10-01 | 0 days | 1,944 sqft |
2021-11-01 | 0 days | 1,975 sqft |
2021-12-01 | 0 days | 2,045 sqft |
2022-01-01 | 0 days | 1,995 sqft |
2022-02-01 | 0 days | 2,114 sqft |
2022-03-01 | 0 days | 2,126 sqft |
2022-04-01 | 0 days | 2,173 sqft |
2022-05-01 | 0 days | 2,040 sqft |
2022-06-01 | 0 days | 2,132 sqft |
2022-07-01 | 0 days | 2,048 sqft |
2022-08-01 | 0 days | 2,034 sqft |
2022-09-01 | 0 days | 2,033 sqft |
2022-10-01 | 0 days | 2,030 sqft |
2022-11-01 | 0 days | 1,894 sqft |
2022-12-01 | 0 days | 1,887 sqft |
2023-01-01 | 0 days | 1,902 sqft |
2023-02-01 | 0 days | 1,892 sqft |
2023-03-01 | 0 days | 1,902 sqft |
2023-04-01 | 0 days | 1,925 sqft |
2023-05-01 | 0 days | 1,939 sqft |
2023-06-01 | 0 days | 1,932 sqft |
2023-07-01 | 0 days | 1,878 sqft |
2023-08-01 | 0 days | 1,831 sqft |
2023-09-01 | 0 days | 1,886 sqft |
2023-10-01 | 0 days | 1,959 sqft |
2023-11-01 | 0 days | 2,005 sqft |
2023-12-01 | 0 days | 1,974 sqft |
2024-01-01 | 0 days | 1,885 sqft |
2024-02-01 | 0 days | 1,844 sqft |
2024-03-01 | 0 days | 1,952 sqft |
2024-04-01 | 0 days | 2,019 sqft |
2024-05-01 | 0 days | 2,058 sqft |
2024-06-01 | 0 days | 2,078 sqft |
2024-07-01 | 0 days | 2,008 sqft |
2024-08-01 | 0 days | 1,975 sqft |
2024-09-01 | 0 days | 1,945 sqft |
2024-10-01 | 0 days | 1,921 sqft |
Picayune's median square footage for active listings during the 2024-10-01 period was 1,921 sqft. One year prior, the average listing was 1,959 sqft.