Pinehurst FHA Loan Rates, Closing Costs & Stats

Pinehurst-Southern Pines, NC

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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.

    Pinehurst's 37 lenders originated 149 FHA loans during 2023. The total origination value was $40,775,000, with an average FHA loan value of $273,658.

    Pinehurst FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Pinehurst averaged 5.92% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Pinehurst's average FHA mortgage closing costs are $7,661.

    The average rate for the prior week (2024-12-06) was 5.79% and one month ago for the week of 2024-11-08, the average rate was 5.85%.

    The average rate one year ago was 6.66%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.48%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 17 6.52% $11,689
    UNITED WHOLESALE MORTGAGE, LLC 15 5.80% $14,184
    DHI MORTGAGE COMPANY, LTD. 10 5.17% $7,120
    MOVEMENT MORTGAGE, LLC 10 6.40% $13,205
    NFM, INC. 6 6.60% $11,338
    UNION HOME MORTGAGE CORP. 4 6.97% $10,711
    NEWREZ LLC 4 5.97% $13,383
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.34% $14,402
    JET HOMELOANS, LLC 4 5.71% $13,359
    GoPrime Mortgage, Inc. 3 6.92% $9,204
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.50% $10,899
    CMG MORTGAGE, INC. 3 7.67% $10,161
    CROSSCOUNTRY MORTGAGE, LLC 3 7.02% $14,388
    INTERCOASTAL MORTGAGE COMPANY 3 7.00% $7,127
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.88% $11,190
    Prosperity Home Mortgage, LLC 2 6.56% $11,921
    First-Citizens Bank & Trust Company 2 6.00% $11,165
    AMERISAVE MORTGAGE CORPORATION 2 5.44% $12,580
    FREEDOM MORTGAGE CORPORATION 2 7.25% $10,161
    PENNYMAC LOAN SERVICES, LLC 2 6.25% $16,932
    PLAZA HOME MORTGAGE, INC. 2 5.75% $8,378
    LOANDEPOT.COM, LLC 2 6.88% $9,165
    CARDINAL FINANCIAL 2 7.50% $15,426
    Wells Fargo Bank 1 6.88% $16,587
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $8,197
    American Security Mortgage Corp. 1 6.38% $9,161
    First Bank 1 5.99% $12,150
    HOMESIDE FINANCIAL, LLC 1 6.88% $20,960
    LOANPAL, LLC 1 6.75% $5,078
    MDE Home Loans, LLC 1 6.63% $10,976
    MICHIGAN MUTUAL, INC. 1 5.50% $11,972
    Mr. Cooper ( Nationstar Mortgage ) 1 7.75% $10,873
    Paramount Residential Mortgage Group, Inc. 1 6.63% $9,313
    RELIANCE FIRST CAPITAL, LLC 1 6.25% $3,544
    SUN WEST MORTGAGE COMPANY, INC. 1 7.13% $16,920
    TOP FLITE FINANCIAL, INC. 1 6.25% $8,734
    ACADEMY MORTGAGE CORPORATION 1 7.25% $8,985

    The top Pinehurst FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 17 FHA loans originated. Their average total fees are $11,689, which is $2,495 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Pinehurst FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($7,120), QUICKEN LOANS, LLC ($11,689), MOVEMENT MORTGAGE, LLC ($13,205), UNITED WHOLESALE MORTGAGE, LLC ($14,184) and .

    The lowest rate Pinehurst FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.17%), UNITED WHOLESALE MORTGAGE, LLC (5.80%), MOVEMENT MORTGAGE, LLC (6.40%), QUICKEN LOANS, LLC (6.52%) and .

    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
    2024-02-01 $463,225 (2.1%) $596,240 (6.0%) 0.00 358
    2024-03-01 $455,000 (-2.4%) $602,148 (8.7%) 0.00 358
    2024-04-01 $462,500 (-3.7%) $607,824 (5.9%) 0.00 395
    2024-05-01 $474,999 (-2.5%) $635,643 (11.3%) 0.00 436
    2024-06-01 $479,900 (0.0%) $652,647 (14.8%) 0.00 506
    2024-07-01 $475,000 (-1.6%) $620,452 (5.0%) 0.00 504
    2024-08-01 $461,450 (-4.8%) $596,194 (-0.2%) 0.00 546
    2024-09-01 $455,000 (-3.5%) $609,609 (4.4%) 0.00 552
    2024-10-01 $450,500 (-1.0%) $600,218 (6.9%) 0.00 548
    2024-11-01 $454,990 (-1.8%) $596,744 (2.5%) 0.00 546
    Pinehurst's median listing price for 2024-11-01 was $454,990, a difference of $-8,485 (-1.8%) versus the prior year and $4,490 versus the prior month.

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

    Pinehurst's average listing price for 2024-11-01 was $596,744, a difference of $14,253 (2.5%) versus the prior year and $-3,474 versus the prior month.

    For the 2024-11-01 period, Pinehurst had 546 MLS listings, a difference of -2 listings (0%) versus the prior month and 144 listings (36%) 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
    2024-02-01 0 days 2,304 sqft
    2024-03-01 0 days 2,351 sqft
    2024-04-01 0 days 2,363 sqft
    2024-05-01 0 days 2,370 sqft
    2024-06-01 0 days 2,380 sqft
    2024-07-01 0 days 2,361 sqft
    2024-08-01 0 days 2,324 sqft
    2024-09-01 0 days 2,309 sqft
    2024-10-01 0 days 2,308 sqft
    2024-11-01 0 days 2,308 sqft
    Pinehurst's median listing age (time on market) for 2024-11-01 was 0 days.

    Pinehurst's median square footage for active listings during the 2024-11-01 period was 2,308 sqft. One year prior, the average listing was 2,253 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).