Pinehurst FHA Loan Rates, Closing Costs & Stats

Pinehurst-Southern Pines, NC

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.

Pinehurst's 59 lenders originated 188 FHA loans during 2022. The total origination value was $41,680,000, with an average FHA loan value of $221,702.

Pinehurst FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Pinehurst averaged 6.2% for the week of 2024-03-01, compared to the national average (all FHA variants) of 6.688% for the same period.

Pinehurst's average FHA mortgage closing costs are $7,074.

The average rate for the prior week (2024-02-23) was 6.09% and one month ago for the week of 2024-01-26, the average rate was 5.79%.

The average rate one year ago was 6.01%.

For refis of the same type during the week of 2024-03-01, the average rate was 4.77%.

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

Pinehurst 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 Pinehurst level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 18 4.71% $9,303
MOVEMENT MORTGAGE, LLC 12 4.89% $9,009
NFM, INC. 8 5.02% $8,560
DHI MORTGAGE COMPANY, LTD. 7 4.36% $7,824
LAKEVIEW LOAN SERVICING, LLC 7 4.32% $6,940
TOP FLITE FINANCIAL, INC. 5 5.53% $13,734
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 5.60% $9,442
Alcova Mortgage LLC 5 6.05% $8,498
UNITED WHOLESALE MORTGAGE, LLC 4 4.68% $10,917
CORNERSTONE HOME LENDING, INC. 4 4.59% $8,110
Mr. Cooper ( Nationstar Mortgage ) 4 4.91% $10,675
CMG MORTGAGE, INC. 4 5.72% $8,112
Prosperity Home Mortgage, LLC 3 5.50% $10,601
CARDINAL FINANCIAL 3 4.71% $10,123
HOME POINT FINANCIAL CORPORATION 3 3.41% $9,545
PENNYMAC LOAN SERVICES, LLC 3 4.54% $10,792
HOMESIDE FINANCIAL, LLC 3 4.92% $12,260
VANDERBILT MORTGAGE AND FINANCE, INC. 3 4.42% $12,437
SUCCESS MORTGAGE PARTNERS, INC. 2 4.88% $8,284
CALIBER HOME LOANS, INC. 2 4.25% $8,754
Carrington Mortgage Services, LLC 2 5.25% $6,909
UNION HOME MORTGAGE CORP. 2 4.56% $8,891
CROSSCOUNTRY MORTGAGE, LLC 2 5.63% $6,158
GoPrime Mortgage, Inc. 2 5.25% $7,377
Wells Fargo Bank 2 5.50% $9,210
LOANDEPOT.COM, LLC 2 3.93% $14,639
Paramount Residential Mortgage Group, Inc. 1 4.99% $15,756
PENTAGON FEDERAL CREDIT UNION 1 6.38% $9,870
PLAZA HOME MORTGAGE, INC. 1 6.50% $8,316
RELIANCE FIRST CAPITAL, LLC 1 5.75% $4,789
RUOFF MORTGAGE COMPANY, INC. 1 4.25% $12,210
SOUTHERN TRUST MORTGAGE, LLC 1 6.38% $8,470
The Federal Savings Bank 1 4.13% $5,896
ZILLOW HOME LOANS, LLC 1 3.50% $7,654
ALLIED MORTGAGE GROUP, INC. 1 3.00% $9,054
Alpha Mortgage Corporation 1 4.63% $7,472
AMERICAN FINANCING CORPORATION 1 4.25% $9,763
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.75% $8,074
American Security Mortgage Corp. 1 6.75% $6,844
AMERISAVE MORTGAGE CORPORATION 1 4.75% $25,158
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.75% $13,439
BROKER SOLUTIONS, INC. 1 3.99% $9,984
CERTAINTY HOME LOANS, LLC 1 6.13% $9,884
CIS Financial Services, Inc. 1 6.38% $10,358
DAS Acquisition Company, LLC 1 4.25% $11,625
First Bank 1 4.50% $8,719
FIRST HOME MORTGAGE CORPORATION 1 3.88% $9,149
Flagstar Bank, FSB 1 3.25% $10,508
FREEDOM MORTGAGE CORPORATION 1 6.25% $11,554
GUILD MORTGAGE COMPANY 1 5.13% $8,438
INTERCOASTAL MORTGAGE COMPANY 1 6.25% $7,403
JET HOMELOANS, LLC 1 6.75% $11,652
Mid-Continent Funding, Inc. 1 7.00% $10,698
MORTGAGE INVESTORS GROUP, INC. 1 5.75% $16,806
Mortgage Research Center, LLC 1 6.13% $9,434
Nations Lending Corporation 1 7.25% $7,392
NEWREZ LLC 1 5.50% $23,827
Northpointe Bank 1 3.75% $7,441
OVM FINANCIAL, INC. 1 4.25% $10,956

The top Pinehurst FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 18 FHA loans originated. Their average total fees are $9,303, which is $294 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Pinehurst FHA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($9,009), QUICKEN LOANS, LLC ($9,303), .

The lowest rate Pinehurst FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.71%), MOVEMENT MORTGAGE, LLC (4.89%), .

Pinehurst FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
PINEHURST-SOUTHERN PINES, NC MOORE 2022 $420,680 $538,650 $651,050 $809,150
PINEHURST-SOUTHERN PINES, NC MOORE 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Pinehurst (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 $299,900 (1.3%) $379,508 (4.2%) 0.00 837
2018-02-01 $301,137 (2.5%) $384,663 (4.8%) 0.00 832
2018-03-01 $309,950 (3.8%) $389,808 (6.1%) 0.00 843
2018-04-01 $308,719 (3.1%) $391,013 (6.4%) 0.00 872
2018-05-01 $300,000 (0.0%) $387,286 (4.9%) 0.00 899
2018-06-01 $300,000 (0.3%) $391,773 (6.8%) 0.00 884
2018-07-01 $307,541 (2.9%) $393,962 (7.6%) 0.00 830
2018-08-01 $305,500 (1.9%) $391,360 (6.2%) 0.00 821
2018-09-01 $306,815 (2.3%) $386,721 (3.8%) 0.00 808
2018-10-01 $309,168 (3.1%) $387,944 (5.0%) 0.00 785
2018-11-01 $306,816 (2.3%) $385,798 (2.4%) 0.00 769
2018-12-01 $304,950 (1.7%) $386,789 (2.3%) 0.00 761
2019-01-01 $307,000 (2.4%) $390,857 (3.0%) 0.00 716
2019-02-01 $312,500 (3.8%) $396,296 (3.0%) 0.00 738
2019-03-01 $318,416 (2.7%) $412,745 (5.9%) 0.00 717
2019-04-01 $323,985 (5.0%) $427,694 (9.4%) 0.00 713
2019-05-01 $336,250 (12.1%) $431,560 (11.4%) 0.00 713
2019-06-01 $333,860 (11.3%) $424,199 (8.3%) 0.00 715
2019-07-01 $334,360 (8.7%) $428,895 (8.9%) 0.00 679
2019-08-01 $332,678 (8.9%) $428,178 (9.4%) 0.00 675
2019-09-01 $331,115 (7.9%) $426,861 (10.4%) 0.00 671
2019-10-01 $329,950 (6.7%) $426,222 (9.9%) 0.00 667
2019-11-01 $329,900 (7.5%) $433,028 (12.2%) 0.00 623
2019-12-01 $331,865 (8.8%) $440,174 (13.8%) 0.00 588
2020-01-01 $333,595 (8.7%) $436,886 (11.8%) 0.00 561
2020-02-01 $339,210 (8.6%) $430,001 (8.5%) 0.00 548
2020-03-01 $339,675 (6.7%) $428,234 (3.8%) 0.00 575
2020-04-01 $337,179 (4.1%) $414,272 (-3.1%) 0.00 589
2020-05-01 $339,450 (1.0%) $417,576 (-3.2%) 0.00 528
2020-06-01 $335,750 (0.6%) $424,898 (0.2%) 0.00 468
2020-07-01 $330,000 (-1.3%) $424,895 (-0.9%) 0.00 414
2020-08-01 $331,237 (-0.4%) $440,858 (3.0%) 0.00 391
2020-09-01 $347,225 (4.9%) $446,312 (4.6%) 0.00 362
2020-10-01 $346,534 (5.0%) $446,540 (4.8%) 0.00 322
2020-11-01 $352,625 (6.9%) $443,957 (2.5%) 0.00 298
2020-12-01 $350,000 (5.5%) $461,338 (4.8%) 0.00 273
2021-01-01 $365,000 (9.4%) $494,942 (13.3%) 0.00 206
2021-02-01 $365,893 (7.9%) $499,326 (16.1%) 0.00 174
2021-03-01 $358,200 (5.5%) $480,815 (12.3%) 0.00 236
2021-04-01 $364,750 (8.2%) $479,781 (15.8%) 0.00 270
2021-05-01 $366,915 (8.1%) $527,880 (26.4%) 0.00 139
2021-06-01 $372,475 (10.9%) $504,552 (18.8%) 0.00 152
2021-07-01 $377,000 (14.2%) $529,372 (24.6%) 0.00 155
2021-08-01 $382,796 (15.6%) $508,731 (15.4%) 0.00 183
2021-09-01 $385,000 (10.9%) $485,188 (8.7%) 0.00 181
2021-10-01 $390,000 (12.5%) $516,229 (15.6%) 0.00 189
2021-11-01 $399,000 (13.2%) $590,779 (33.1%) 0.00 193
2021-12-01 $399,000 (14.0%) $587,025 (27.2%) 0.00 156
2022-01-01 $399,000 (9.3%) $605,545 (22.4%) 0.00 144
2022-02-01 $432,313 (18.2%) $656,980 (31.6%) 0.00 100
2022-03-01 $465,375 (29.9%) $623,057 (29.6%) 0.00 104
2022-04-01 $452,500 (24.1%) $616,449 (28.5%) 0.00 134
2022-05-01 $449,975 (22.6%) $573,836 (8.7%) 0.00 176
2022-06-01 $450,000 (20.8%) $619,007 (22.7%) 0.00 217
2022-07-01 $461,720 (22.5%) $616,908 (16.5%) 0.00 246
2022-08-01 $449,950 (17.5%) $598,264 (17.6%) 0.00 279
2022-09-01 $462,450 (20.1%) $589,998 (21.6%) 0.00 311
2022-10-01 $465,000 (19.2%) $592,861 (14.8%) 0.00 342
2022-11-01 $455,795 (14.2%) $584,403 (-1.1%) 0.00 347
2022-12-01 $459,000 (15.0%) $575,941 (-1.9%) 0.00 333
2023-01-01 $456,285 (14.4%) $564,532 (-6.8%) 0.00 300
2023-02-01 $453,570 (4.9%) $562,503 (-14.4%) 0.00 255
2023-03-01 $466,225 (0.2%) $553,962 (-11.1%) 0.00 236
2023-04-01 $480,000 (6.1%) $573,825 (-6.9%) 0.00 230
2023-05-01 $487,125 (8.3%) $571,268 (-0.5%) 0.00 249
2023-06-01 $480,000 (6.7%) $568,730 (-8.1%) 0.00 290
2023-07-01 $482,900 (4.6%) $591,123 (-4.2%) 0.00 307
2023-08-01 $484,450 (7.7%) $597,356 (-0.2%) 0.00 322
2023-09-01 $471,400 (1.9%) $583,795 (-1.1%) 0.00 363
2023-10-01 $455,000 (-2.2%) $561,459 (-5.3%) 0.00 381
2023-11-01 $463,475 (1.7%) $582,491 (-0.3%) 0.00 402
2023-12-01 $463,521 (1.0%) $588,526 (2.2%) 0.00 407
2024-01-01 $468,925 (2.8%) $583,747 (3.4%) 0.00 390
Pinehurst's median listing price for 2024-01-01 was $468,925, a difference of $12,640 (2.8%) versus the prior year and $5,404 versus the prior month.

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

Pinehurst's average listing price for 2024-01-01 was $583,747, a difference of $19,215 (3.4%) versus the prior year and $-4,779 versus the prior month.

For the 2024-01-01 period, Pinehurst had 390 MLS listings, a difference of -17 listings (-4%) versus the prior month and 90 listings (30%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Pinehurst (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,500 sqft
2018-02-01 0 days 2,500 sqft
2018-03-01 0 days 2,500 sqft
2018-04-01 0 days 2,500 sqft
2018-05-01 0 days 2,500 sqft
2018-06-01 0 days 2,500 sqft
2018-07-01 0 days 2,512 sqft
2018-08-01 0 days 2,500 sqft
2018-09-01 0 days 2,500 sqft
2018-10-01 0 days 2,500 sqft
2018-11-01 0 days 2,500 sqft
2018-12-01 0 days 2,500 sqft
2019-01-01 0 days 2,500 sqft
2019-02-01 0 days 2,448 sqft
2019-03-01 0 days 2,478 sqft
2019-04-01 0 days 2,540 sqft
2019-05-01 0 days 2,562 sqft
2019-06-01 0 days 2,545 sqft
2019-07-01 0 days 2,556 sqft
2019-08-01 0 days 2,551 sqft
2019-09-01 0 days 2,550 sqft
2019-10-01 0 days 2,549 sqft
2019-11-01 0 days 2,510 sqft
2019-12-01 0 days 2,551 sqft
2020-01-01 0 days 2,521 sqft
2020-02-01 0 days 2,514 sqft
2020-03-01 0 days 2,516 sqft
2020-04-01 0 days 2,500 sqft
2020-05-01 0 days 2,500 sqft
2020-06-01 0 days 2,512 sqft
2020-07-01 0 days 2,492 sqft
2020-08-01 0 days 2,500 sqft
2020-09-01 0 days 2,544 sqft
2020-10-01 0 days 2,550 sqft
2020-11-01 0 days 2,536 sqft
2020-12-01 0 days 2,518 sqft
2021-01-01 0 days 2,512 sqft
2021-02-01 0 days 2,389 sqft
2021-03-01 0 days 2,345 sqft
2021-04-01 0 days 2,343 sqft
2021-05-01 0 days 2,262 sqft
2021-06-01 0 days 2,298 sqft
2021-07-01 0 days 2,254 sqft
2021-08-01 0 days 2,312 sqft
2021-09-01 0 days 2,281 sqft
2021-10-01 0 days 2,288 sqft
2021-11-01 0 days 2,369 sqft
2021-12-01 0 days 2,357 sqft
2022-01-01 0 days 2,367 sqft
2022-02-01 0 days 2,344 sqft
2022-03-01 0 days 2,463 sqft
2022-04-01 0 days 2,445 sqft
2022-05-01 0 days 2,427 sqft
2022-06-01 0 days 2,415 sqft
2022-07-01 0 days 2,500 sqft
2022-08-01 0 days 2,453 sqft
2022-09-01 0 days 2,491 sqft
2022-10-01 0 days 2,497 sqft
2022-11-01 0 days 2,474 sqft
2022-12-01 0 days 2,455 sqft
2023-01-01 0 days 2,444 sqft
2023-02-01 0 days 2,416 sqft
2023-03-01 0 days 2,429 sqft
2023-04-01 0 days 2,468 sqft
2023-05-01 0 days 2,383 sqft
2023-06-01 0 days 2,355 sqft
2023-07-01 0 days 2,375 sqft
2023-08-01 0 days 2,331 sqft
2023-09-01 0 days 2,283 sqft
2023-10-01 0 days 2,209 sqft
2023-11-01 0 days 2,253 sqft
2023-12-01 0 days 2,292 sqft
2024-01-01 0 days 2,299 sqft
Pinehurst's median listing age (time on market) for 2024-01-01 was 0 days.

Pinehurst's median square footage for active listings during the 2024-01-01 period was 2,299 sqft. One year prior, the average listing was 2,444 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).