Raleigh FHA Loan Rates, Closing Costs & Stats

RALEIGH-CARY, 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.

Raleigh's 206 lenders originated 2,860 FHA loans during 2022. The total origination value was $938,500,000, with an average FHA loan value of $328,147.

Raleigh FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Raleigh averaged 5.9% for the week of 2024-03-01, compared to the national average (all FHA variants) of 6.688% for the same period.

Raleigh's average FHA mortgage closing costs are $7,891.

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 5.78%.

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 5.12%.

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

Raleigh 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 Raleigh level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 301 4.33% $11,625
LOANDEPOT.COM, LLC 128 4.71% $10,845
MOVEMENT MORTGAGE, LLC 124 5.09% $10,750
UNITED WHOLESALE MORTGAGE, LLC 94 4.73% $11,563
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 72 5.23% $9,220
CORNERSTONE HOME LENDING, INC. 66 4.91% $10,908
Mr. Cooper ( Nationstar Mortgage ) 65 4.43% $14,443
PENNYMAC LOAN SERVICES, LLC 60 4.02% $12,178
FREEDOM MORTGAGE CORPORATION 55 4.57% $11,174
Carrington Mortgage Services, LLC 53 5.50% $10,131
NFM, INC. 49 5.30% $12,654
BROKER SOLUTIONS, INC. 47 5.06% $11,970
GoPrime Mortgage, Inc. 46 5.21% $11,686
NVR Mortgage Finance, Inc. 42 4.64% $14,502
AMERISAVE MORTGAGE CORPORATION 39 4.29% $11,417
CALIBER HOME LOANS, INC. 39 4.94% $11,265
CROSSCOUNTRY MORTGAGE, LLC 35 5.34% $12,757
LAKEVIEW LOAN SERVICING, LLC 35 4.27% $8,445
DHI MORTGAGE COMPANY, LTD. 33 4.54% $9,404
PRIMARY RESIDENTIAL MORTGAGE, INC. 32 4.74% $12,928
PRIMELENDING, A PLAINSCAPITAL COMPANY 29 4.72% $13,094
EAGLE HOME MORTGAGE, LLC 28 4.82% $7,660
American Security Mortgage Corp. 28 4.69% $11,081
The Federal Savings Bank 28 5.22% $13,205
INTERCOASTAL MORTGAGE COMPANY 26 5.20% $8,960
CARDINAL FINANCIAL 26 4.48% $10,335
VANDERBILT MORTGAGE AND FINANCE, INC. 24 4.81% $13,602
NEWREZ LLC 23 4.58% $8,329
Blue Ridge Bank 23 5.38% $11,744
North State Bank 23 5.03% $9,975
Prosperity Home Mortgage, LLC 21 4.86% $11,674
AMERICAN FINANCING CORPORATION 20 4.21% $10,338
HOMEBRIDGE FINANCIAL SERVICES, INC. 20 4.65% $10,445
GUARANTEED RATE, INC. 19 4.66% $10,192
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 19 5.61% $12,210
First Heritage Mortgage, LLC 19 4.71% $12,110
HOMESPIRE MORTGAGE CORPORATION 18 5.46% $9,456
HOME POINT FINANCIAL CORPORATION 17 4.12% $10,060
Nations Lending Corporation 17 5.24% $12,881
TOP FLITE FINANCIAL, INC. 17 5.01% $18,832
ACADEMY MORTGAGE CORPORATION 17 4.59% $10,792
CMG MORTGAGE, INC. 16 5.36% $11,216
RELIANCE FIRST CAPITAL, LLC 16 4.90% $12,014
LOANPAL, LLC 16 4.19% $14,866
Alcova Mortgage LLC 15 5.23% $10,354
CAPITAL CENTER, L.L.C. 15 4.31% $6,982
United Community Bank 15 4.68% $11,281
Towne Bank 14 4.83% $10,007
MUTUAL OF OMAHA MORTGAGE, INC. 14 4.62% $14,434
Flagstar Bank, FSB 14 4.09% $10,776
HOMESIDE FINANCIAL, LLC 14 5.01% $12,274
Lakeview Community Capital, LLC 13 4.28% $9,051
T2 FINANCIAL LLC 13 5.18% $13,541
VILLAGE CAPITAL MORTGAGE 12 4.11% $10,415
MORTGAGE SOLUTIONS OF COLORADO, LLC 12 4.50% $13,264
PULTE MORTGAGE LLC 12 4.75% $9,009
Truist 12 4.54% $9,858
ANGEL OAK HOME LOANS LLC 11 5.51% $11,978
EQUITY RESOURCES, INC. 10 4.81% $8,959
Ameris Bank 10 4.59% $10,280
SOUTHERN TRUST MORTGAGE, LLC 10 5.43% $11,998
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 10 5.85% $10,308
Mortgage Research Center, LLC 9 5.46% $10,030
KBHS HOME LOANS, LLC 9 4.75% $13,131
THE MORTGAGE FIRM, INC. 9 5.40% $12,488
PANORAMA MORTGAGE GROUP, LLC 9 4.81% $15,223
Towne Mortgage of the Carolinas, LLC 8 4.97% $11,861
The Central Trust Bank 8 4.77% $11,459
Corporate Investors Mortgage Group, Inc. 8 5.33% $15,091
Wells Fargo Bank 8 4.91% $8,212
MATTAMY HOME FUNDING, LLC 8 3.86% $12,746
Wyndham Capital Mortgage, Inc. 7 4.93% $11,627
SUN WEST MORTGAGE COMPANY, INC. 7 4.62% $10,821
Alpha Mortgage Corporation 7 5.73% $9,438
PLAZA HOME MORTGAGE, INC. 6 4.21% $11,073
CALCON MUTUAL MORTGAGE LLC 6 4.10% $10,276
FIRST HOME MORTGAGE CORPORATION 6 6.04% $14,019
Shamrock Home Loans, Inc. 6 5.08% $13,331
EVERETT FINANCIAL, INC. 6 5.27% $7,318
Victorian Finance, LLC 6 4.50% $12,503
Equity Prime Mortgage LLC 6 5.38% $11,932
ZILLOW HOME LOANS, LLC 6 5.46% $12,853
Hometown Lenders, Inc. 5 4.43% $9,558
South Pacific Financial Corporation 5 4.50% $13,063
ALLIED MORTGAGE GROUP, INC. 5 5.18% $12,091
Paramount Residential Mortgage Group, Inc. 5 5.05% $16,783
JET HOMELOANS, LLC 5 4.68% $16,192
UNION HOME MORTGAGE CORP. 5 5.53% $9,296
First Guaranty Mortgage Corporation 5 3.58% $9,999
SOVEREIGN LENDING GROUP INCORPORATED 4 4.97% $14,353
BAY EQUITY LLC 4 5.09% $15,942
PLANET HOME LENDING, LLC 4 5.41% $10,637
Barrington Bank & Trust Company, N.A. 4 4.94% $7,619
Bank of England 4 6.00% $12,648
AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.19% $11,021
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 4 5.66% $14,180
Magnolia Bank 4 5.69% $11,859
Strong Home Mortgage, LLC 4 3.72% $8,472
LADERA LENDING, INC. 3 4.42% $16,484
AMCAP MORTGAGE, LTD. 3 4.75% $7,831
AMERICAN FINANCIAL RESOURCES, INC. 3 5.00% $10,405
AmeriHome Mortgage Company, LLC 3 4.17% $12,001
EMBRACE HOME LOANS, INC. 3 4.88% $9,308
First-Citizens Bank & Trust Company 3 5.04% $7,640
HAMILTON HOME LOANS, INC. 3 5.08% $18,241
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 5.17% $16,207
JPMorgan Chase Bank 3 5.38% $9,270
M&T Bank 3 3.75% $9,071
MY MORTGAGE, INC. 3 4.38% $10,069
Northpointe Bank 3 5.29% $16,247
ON Q FINANCIAL, INC. 3 4.88% $7,336
PNC Bank 3 5.33% $9,506
RAPID MORTGAGE COMPANY 3 4.50% $10,030
RESOURCE FINANCIAL SERVICES, INC. 3 6.00% $8,308
SECURITYNATIONAL MORTGAGE COMPANY 3 4.25% $12,350
UNITED MORTGAGE CORP 3 4.58% $12,692
VELOCIO MORTGAGE L.L.C. 3 6.00% $14,128
FINANCE OF AMERICA MORTGAGE LLC 2 4.88% $10,456
NETWORK CAPITAL FUNDING CORPORATION 2 4.63% $13,248
Capital City Home Loans, LLC 2 4.94% $10,920
FBC MORTGAGE, LLC 2 4.69% $8,395
GENEVA FINANCIAL, LLC 2 3.69% $14,174
BETTER MORTGAGE CORPORATION 2 6.38% $8,876
PHH Mortgage Corporation 2 6.06% $7,242
Bank of America 2 5.69% $12,307
ABSOLUTE HOME MORTGAGE CORPORATION 2 5.38% $14,858
Austin Capital Bank SSB 2 4.38% $10,715
Amerifirst Financial, Inc. 2 4.50% $11,830
Plains Commerce Bank 2 6.44% $13,091
Fifth Third Bank 2 4.38% $8,744
US MORTGAGE CORPORATION 2 4.88% $11,144
OPEN MORTGAGE, LLC 2 3.06% $10,104
First Federal Bank 2 5.00% $11,071
CityWorth Mortgage LLC 2 4.75% $14,945
1ST SIGNATURE LENDING, LLC 2 5.88% $14,433
Citizens Bank 2 4.19% $7,720
SUCCESS MORTGAGE PARTNERS, INC. 2 4.56% $9,267
AMERICAN PORTFOLIO MORTGAGE CORPORATION 2 5.69% $8,867
CHURCHILL MORTGAGE CORPORATION 2 3.00% $6,425
MILEND, INC. 2 5.44% $12,537
MIDLAND MORTGAGE CORPORATION 2 4.75% $15,192
POLARIS HOME FUNDING CORP. 1 5.13% $11,348
PREMIA MORTGAGE, LLC 1 4.88% $9,037
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 4.00% $8,694
ENVOY MORTGAGE, LTD 1 5.13% $7,105
Encompass Lending Group, LP 1 7.75% $10,143
EMM LOANS LLC 1 4.63% $14,096
RADIUS FINANCIAL GROUP INC. 1 7.25% $13,998
V.I.P. MORTGAGE, INC. 1 5.63% $10,606
DIRECT MORTGAGE LOANS, LLC 1 5.13% $7,724
RESIDENTIAL HOME FUNDING CORP. 1 3.38% $13,590
ROYAL UNITED MORTGAGE LLC 1 5.25% $4,975
RUOFF MORTGAGE COMPANY, INC. 1 4.50% $10,052
S1L, Inc. 1 4.50% $10,662
Willamette Valley Bank 1 5.25% $12,828
Semper Home Loans, Inc. 1 5.25% $11,667
DAS Acquisition Company, LLC 1 5.50% $14,532
SHELTER HOME MORTGAGE, LLC 1 6.13% $11,465
SIRVA MORTGAGE, INC. 1 5.13% $12,830
CONTOUR MORTGAGE CORPORATION 1 6.75% $18,989
Colonial Savings, F.A. 1 5.75% $22,672
SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.25% $20,443
South State Bank 1 5.25% $9,642
CIS Financial Services, Inc. 1 6.13% $7,716
C & F Mortgage Corporation 1 7.13% $20,529
Century Mortgage Company DBA Century Lending Company 1 5.38% $9,001
The Fidelity Bank 1 5.13% $6,322
TJC Mortgage, Inc. 1 5.63% $21,152
BNC National Bank 1 6.50% $11,082
BECKAM FUNDING CORP. 1 5.75% $19,926
BancorpSouth 1 6.63% $9,862
Allen Tate Mortgage Partners, LLC 1 5.63% $15,885
Atlantic Coast Mortgage, LLC 1 4.75% $10,381
U.S. Bank 1 5.63% $8,596
LIBERTY HOME MORTGAGE CORPORATION 1 6.63% $8,859
LEADERONE FINANCIAL CORPORATION 1 3.63% $5,102
LOANLEADERS OF AMERICA, INC. 1 6.88% $21,307
KELLER MORTGAGE, LLC 1 4.75% $7,117
Integrity Home Mortgage Corp 1 6.00% $12,630
MCLEAN MORTGAGE CORPORATION 1 5.75% $10,718
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.75% $22,321
MEMBER FIRST MORTGAGE, LLC 1 6.63% $10,932
MICHIGAN MUTUAL, INC. 1 5.13% $16,101
MLD MORTGAGE INC. 1 6.38% $9,575
Hometown Equity Mortgage, LLC 1 3.13% $8,522
HOMESTEAD FUNDING CORP. 1 6.25% $9,885
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 5.63% $14,146
GUARANTEED RATE AFFINITY, LLC 1 4.25% $7,676
ARC HOME LLC 1 3.63% $7,704
GSF Mortgage Corporation 1 6.63% $10,383
NATIONS DIRECT MORTGAGE, LLC 1 2.99% $4,893
George Mason Mortgage, LLC 1 5.13% $11,083
NATIONS RELIABLE LENDING, LLC 1 3.88% $8,156
FLAT BRANCH MORTGAGE, INC. 1 3.63% $10,790
VERITAS FUNDING, LLC 1 4.75% $12,408
First Option Mortgage, LLC 1 5.63% $19,044
NTFN, INC. 1 6.50% $9,995
First Home Bank 1 5.75% $16,242
FirstBank 1 2.88% $8,732
PENTAGON FEDERAL CREDIT UNION 1 4.75% $6,989
Peoples Bank 1 5.25% $17,562
PIKE CREEK MORTGAGE SERVICES, INC. 1 5.50% $10,174
Pinnacle Bank 1 3.63% $10,380
Platinum Home Mortgage Corporation 1 6.75% $16,511
FIDELITY DIRECT MORTGAGE, LLC 1 5.13% $10,260
AMERIFIRST FINANCIAL CORPORATION 1 5.63% $18,820

The top Raleigh FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 301 FHA loans originated. Their average total fees are $11,625, which is $780 higher than the next largest lender, LOANDEPOT.COM, LLC.

The lowest fee Raleigh FHA lenders (with over 10 loans originated) are CAPITAL CENTER, L.L.C. ($6,982), EAGLE HOME MORTGAGE, LLC ($7,660), NEWREZ LLC ($8,329), LAKEVIEW LOAN SERVICING, LLC ($8,445) and EQUITY RESOURCES, INC. ($8,959).

The lowest rate Raleigh FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (4.02%), Flagstar Bank, FSB (4.09%), VILLAGE CAPITAL MORTGAGE (4.11%), HOME POINT FINANCIAL CORPORATION (4.12%) and LOANPAL, LLC (4.19%).

Raleigh FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
RALEIGH-CARY, NC FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
RALEIGH-CARY, NC JOHNSTON 2022 $420,680 $538,650 $651,050 $809,150
RALEIGH-CARY, NC WAKE 2022 $420,680 $538,650 $651,050 $809,150
RALEIGH-CARY, NC FRANKLIN 2023 $502,550 $643,350 $777,650 $966,450
RALEIGH-CARY, NC JOHNSTON 2023 $502,550 $643,350 $777,650 $966,450
RALEIGH-CARY, NC WAKE 2023 $502,550 $643,350 $777,650 $966,450

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Raleigh (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 $350,080 (2.5%) $423,693 (3.1%) 1.30 3,973
2018-02-01 $358,693 (3.2%) $427,864 (3.1%) 1.30 4,010
2018-03-01 $368,837 (2.5%) $439,760 (2.6%) 1.29 4,228
2018-04-01 $369,951 (0.0%) $441,023 (0.0%) 1.25 4,498
2018-05-01 $369,950 (0.0%) $442,374 (-0.1%) 1.24 4,821
2018-06-01 $369,700 (1.0%) $445,449 (1.8%) 1.23 4,913
2018-07-01 $369,450 (0.6%) $448,748 (2.9%) 1.23 4,814
2018-08-01 $369,664 (1.6%) $447,787 (3.4%) 1.24 4,907
2018-09-01 $365,900 (0.3%) $442,771 (2.4%) 1.23 5,031
2018-10-01 $357,985 (-0.6%) $432,120 (0.8%) 1.21 5,275
2018-11-01 $355,281 (-1.3%) $430,386 (0.7%) 1.20 5,155
2018-12-01 $353,899 (-0.6%) $426,868 (-0.1%) 1.22 4,904
2019-01-01 $349,995 (0.0%) $423,873 (0.0%) 1.21 4,626
2019-02-01 $354,745 (-1.1%) $430,435 (0.6%) 1.20 4,580
2019-03-01 $363,771 (-1.4%) $439,870 (0.0%) 1.19 4,596
2019-04-01 $369,500 (-0.1%) $449,308 (1.9%) 1.17 4,723
2019-05-01 $375,000 (1.4%) $455,927 (3.1%) 1.17 4,830
2019-06-01 $376,000 (1.7%) $453,492 (1.8%) 1.18 4,931
2019-07-01 $375,000 (1.5%) $452,187 (0.8%) 1.17 5,004
2019-08-01 $371,807 (0.6%) $448,155 (0.1%) 1.18 5,084
2019-09-01 $367,528 (0.4%) $444,569 (0.4%) 1.18 5,147
2019-10-01 $364,100 (1.7%) $441,993 (2.3%) 1.17 5,188
2019-11-01 $359,418 (1.2%) $440,540 (2.4%) 1.18 4,990
2019-12-01 $359,950 (1.7%) $442,899 (3.8%) 1.20 4,532
2020-01-01 $358,714 (2.5%) $442,855 (4.5%) 1.20 4,218
2020-02-01 $364,645 (2.8%) $450,735 (4.7%) 1.19 4,108
2020-03-01 $372,685 (2.5%) $461,154 (4.8%) 1.17 4,030
2020-04-01 $363,849 (-1.5%) $451,689 (0.5%) 1.14 4,289
2020-05-01 $369,990 (-1.3%) $465,377 (2.1%) 1.12 4,192
2020-06-01 $381,450 (1.5%) $486,068 (7.2%) 1.12 3,573
2020-07-01 $381,439 (1.7%) $487,119 (7.7%) 1.11 3,317
2020-08-01 $385,000 (3.6%) $487,345 (8.7%) 1.10 3,201
2020-09-01 $390,708 (6.3%) $495,072 (11.4%) 1.12 2,895
2020-10-01 $389,900 (7.1%) $496,028 (12.2%) 1.12 2,854
2020-11-01 $385,000 (7.1%) $492,706 (11.8%) 1.13 2,568
2020-12-01 $387,376 (7.6%) $497,675 (12.4%) 1.15 2,199
2021-01-01 $389,900 (8.7%) $508,063 (14.7%) 1.16 1,853
2021-02-01 $395,775 (8.5%) $525,866 (16.7%) 1.15 1,478
2021-03-01 $397,450 (6.7%) $528,581 (14.6%) 1.13 1,281
2021-04-01 $399,510 (9.8%) $541,473 (19.9%) 1.08 1,203
2021-05-01 $403,297 (9.0%) $550,589 (18.3%) 1.07 1,030
2021-06-01 $408,898 (7.2%) $559,651 (15.1%) 1.08 1,046
2021-07-01 $409,900 (7.5%) $545,206 (11.9%) 1.08 1,207
2021-08-01 $424,630 (10.3%) $563,887 (15.7%) 1.13 1,249
2021-09-01 $425,000 (8.8%) $554,489 (12.0%) 1.13 1,408
2021-10-01 $425,000 (9.0%) $551,039 (11.1%) 1.13 1,461
2021-11-01 $426,870 (10.9%) $553,907 (12.4%) 1.14 1,340
2021-12-01 $423,320 (9.3%) $551,595 (10.8%) 1.15 1,097
2022-01-01 $426,000 (9.3%) $567,969 (11.8%) 1.15 900
2022-02-01 $433,862 (9.6%) $589,111 (12.0%) 1.13 660
2022-03-01 $450,725 (13.4%) $619,727 (17.2%) 1.13 694
2022-04-01 $476,565 (19.3%) $620,214 (14.5%) 1.14 850
2022-05-01 $494,500 (22.6%) $608,331 (10.5%) 1.13 1,437
2022-06-01 $499,950 (22.3%) $626,853 (12.0%) 1.11 2,103
2022-07-01 $495,000 (20.8%) $614,383 (12.7%) 1.12 2,767
2022-08-01 $486,247 (14.5%) $605,260 (7.3%) 1.12 3,187
2022-09-01 $464,000 (9.2%) $580,273 (4.7%) 1.08 3,765
2022-10-01 $455,000 (7.1%) $576,049 (4.5%) 1.07 3,935
2022-11-01 $449,725 (5.4%) $570,347 (3.0%) 1.08 3,886
2022-12-01 $448,900 (6.0%) $569,095 (3.2%) 1.11 3,595
2023-01-01 $445,950 (4.7%) $573,153 (0.9%) 1.10 3,200
2023-02-01 $449,787 (3.7%) $583,580 (-0.9%) 1.09 2,831
2023-03-01 $450,000 (-0.2%) $597,307 (-3.6%) 1.06 2,598
2023-04-01 $465,000 (-2.4%) $630,194 (1.6%) 1.08 2,427
2023-05-01 $474,490 (-4.1%) $640,399 (5.3%) 1.08 2,496
2023-06-01 $478,886 (-4.2%) $642,353 (2.5%) 1.08 2,526
2023-07-01 $469,900 (-5.1%) $634,143 (3.2%) 1.07 2,565
2023-08-01 $464,950 (-4.4%) $628,919 (3.9%) 1.07 2,667
2023-09-01 $459,750 (-0.9%) $624,453 (7.6%) 1.07 2,842
2023-10-01 $457,515 (0.6%) $621,273 (7.9%) 1.08 3,107
2023-11-01 $451,735 (0.5%) $615,991 (8.0%) 1.08 3,202
2023-12-01 $446,455 (-0.5%) $614,957 (8.1%) 1.09 2,951
2024-01-01 $439,945 (-1.4%) $622,802 (8.7%) 1.07 2,651
Raleigh's median listing price for 2024-01-01 was $439,945, a difference of $-6,005 (-1.4%) versus the prior year and $-6,510 versus the prior month.

Raleigh's median listing price comes in at 107% of the national average.

Raleigh's average listing price for 2024-01-01 was $622,802, a difference of $49,649 (8.7%) versus the prior year and $7,845 versus the prior month.

For the 2024-01-01 period, Raleigh had 2,651 MLS listings, a difference of -300 listings (-10%) versus the prior month and -549 listings (-17%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Raleigh (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 82 days 2,659 sqft
2018-02-01 69 days 2,652 sqft
2018-03-01 53 days 2,700 sqft
2018-04-01 51 days 2,669 sqft
2018-05-01 50 days 2,676 sqft
2018-06-01 53 days 2,666 sqft
2018-07-01 60 days 2,653 sqft
2018-08-01 62 days 2,655 sqft
2018-09-01 65 days 2,623 sqft
2018-10-01 68 days 2,588 sqft
2018-11-01 71 days 2,578 sqft
2018-12-01 78 days 2,564 sqft
2019-01-01 83 days 2,557 sqft
2019-02-01 74 days 2,561 sqft
2019-03-01 61 days 2,594 sqft
2019-04-01 50 days 2,625 sqft
2019-05-01 50 days 2,651 sqft
2019-06-01 50 days 2,629 sqft
2019-07-01 56 days 2,604 sqft
2019-08-01 57 days 2,578 sqft
2019-09-01 58 days 2,555 sqft
2019-10-01 59 days 2,541 sqft
2019-11-01 61 days 2,500 sqft
2019-12-01 69 days 2,505 sqft
2020-01-01 72 days 2,483 sqft
2020-02-01 59 days 2,519 sqft
2020-03-01 47 days 2,548 sqft
2020-04-01 50 days 2,495 sqft
2020-05-01 58 days 2,508 sqft
2020-06-01 58 days 2,539 sqft
2020-07-01 48 days 2,485 sqft
2020-08-01 40 days 2,464 sqft
2020-09-01 45 days 2,456 sqft
2020-10-01 44 days 2,426 sqft
2020-11-01 44 days 2,386 sqft
2020-12-01 49 days 2,376 sqft
2021-01-01 45 days 2,355 sqft
2021-02-01 33 days 2,309 sqft
2021-03-01 25 days 2,259 sqft
2021-04-01 20 days 2,299 sqft
2021-05-01 17 days 2,275 sqft
2021-06-01 16 days 2,261 sqft
2021-07-01 18 days 2,253 sqft
2021-08-01 20 days 2,256 sqft
2021-09-01 19 days 2,245 sqft
2021-10-01 20 days 2,228 sqft
2021-11-01 22 days 2,219 sqft
2021-12-01 34 days 2,198 sqft
2022-01-01 33 days 2,139 sqft
2022-02-01 16 days 2,146 sqft
2022-03-01 11 days 2,186 sqft
2022-04-01 10 days 2,250 sqft
2022-05-01 12 days 2,319 sqft
2022-06-01 16 days 2,356 sqft
2022-07-01 23 days 2,337 sqft
2022-08-01 30 days 2,334 sqft
2022-09-01 42 days 2,287 sqft
2022-10-01 47 days 2,269 sqft
2022-11-01 56 days 2,267 sqft
2022-12-01 68 days 2,284 sqft
2023-01-01 74 days 2,285 sqft
2023-02-01 66 days 2,288 sqft
2023-03-01 52 days 2,305 sqft
2023-04-01 48 days 2,327 sqft
2023-05-01 43 days 2,337 sqft
2023-06-01 43 days 2,347 sqft
2023-07-01 42 days 2,312 sqft
2023-08-01 40 days 2,299 sqft
2023-09-01 43 days 2,275 sqft
2023-10-01 44 days 2,254 sqft
2023-11-01 49 days 2,231 sqft
2023-12-01 63 days 2,205 sqft
2024-01-01 63 days 2,165 sqft
Raleigh's median listing age (time on market) for 2024-01-01 was 63 days. This is -15% shorter than the same period one year ago.

Raleigh's median square footage for active listings during the 2024-01-01 period was 2,165 sqft. One year prior, the average listing was 2,285 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).