Raleigh FHA Loans

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 221 lenders originated 4,759 FHA loans during 2021. The total origination value was $1,227,965,000, with an average FHA loan value of $258,030.

Raleigh FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Raleigh averaged 5.04% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

The average rate for the prior week (2022-05-06) was 5.27% and one month ago for the week of 2022-04-08, the average rate was 4.94%.

The average rate one year ago was 2.94%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.16%.

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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Raleigh level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 533 2.64% $6,620
MOVEMENT MORTGAGE, LLC 174 3.17% $7,736
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 171 3.18% $7,332
FREEDOM MORTGAGE CORPORATION 168 2.77% $5,306
LAKEVIEW LOAN SERVICING, LLC 166 2.87% $5,276
PENNYMAC LOAN SERVICES, LLC 146 2.94% $5,633
Mr. Cooper ( Nationstar Mortgage ) 137 3.25% $5,310
CALIBER HOME LOANS, INC. 88 2.86% $6,992
UNITED WHOLESALE MORTGAGE, LLC 81 2.73% $8,188
Lakeview Community Capital, LLC 71 2.83% $5,134
CORNERSTONE HOME LENDING, INC. 66 3.18% $8,918
GoPrime Mortgage, Inc. 66 3.36% $8,002
LOANDEPOT.COM, LLC 63 3.15% $8,695
PRIMARY RESIDENTIAL MORTGAGE, INC. 61 3.47% $8,719
Towne Bank 53 2.76% $8,911
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 52 3.13% $8,657
BROKER SOLUTIONS, INC. 52 3.13% $8,202
Carrington Mortgage Services, LLC 50 3.44% $8,458
VILLAGE CAPITAL & INVESTMENT LLC 50 2.84% $3,027
North State Bank 47 2.73% $7,286
Prosperity Home Mortgage, LLC 46 3.17% $8,438
Alcova Mortgage LLC 44 3.19% $7,826
HOMEBRIDGE FINANCIAL SERVICES, INC. 44 2.70% $6,746
GUARANTEED RATE, INC. 43 2.85% $8,430
CALCON MUTUAL MORTGAGE LLC 43 3.74% $8,396
CROSSCOUNTRY MORTGAGE, LLC 42 3.07% $9,114
NFM, INC. 42 3.26% $9,360
INTERCOASTAL MORTGAGE COMPANY 41 3.11% $7,169
NEWREZ LLC 41 2.86% $6,031
EAGLE HOME MORTGAGE, LLC 41 3.24% $6,925
NVR Mortgage Finance, Inc. 39 3.01% $9,965
PRIMELENDING, A PLAINSCAPITAL COMPANY 39 3.24% $8,821
HOME POINT FINANCIAL CORPORATION 38 2.68% $7,085
American Security Mortgage Corp. 33 2.78% $8,063
Nations Lending Corporation 31 3.25% $8,997
AmeriHome Mortgage Company, LLC 30 2.91% $5,501
Towne Mortgage of the Carolinas, LLC 30 2.73% $8,103
The Federal Savings Bank 28 2.97% $8,737
Ameris Bank 28 2.95% $8,191
MATTAMY HOME FUNDING, LLC 27 2.61% $8,845
First Guaranty Mortgage Corporation 27 2.80% $6,057
AMERISAVE MORTGAGE CORPORATION 26 2.96% $8,557
HOMESIDE FINANCIAL, LLC 25 2.95% $9,068
First Heritage Mortgage, LLC 25 3.06% $8,809
THE MORTGAGE FIRM, INC. 24 3.17% $7,678
Truist Bank 24 2.82% $8,072
Hometown Lenders, Inc. 23 3.43% $8,633
RESIDENTIAL MORTGAGE SERVICES, INC. 21 2.88% $8,072
DHI MORTGAGE COMPANY, LTD. 20 2.66% $7,882
ANGEL OAK HOME LOANS LLC 20 3.04% $8,389
HOMESPIRE MORTGAGE CORPORATION 19 3.28% $8,554
CMG MORTGAGE, INC. 19 3.19% $9,150
Corporate Investors Mortgage Group, Inc. 19 2.71% $7,843
ACADEMY MORTGAGE CORPORATION 19 3.04% $8,566
InterContinental Capital Group, Inc 18 2.54% $8,093
PLANET HOME LENDING, LLC 18 2.85% $6,061
RELIANCE FIRST CAPITAL, LLC 17 2.91% $9,128
SUN WEST MORTGAGE COMPANY, INC. 17 3.05% $6,746
PULTE MORTGAGE LLC 17 2.95% $6,909
United Community Bank 15 3.00% $7,722
VANDERBILT MORTGAGE AND FINANCE, INC. 14 3.17% $8,310
SOUTHERN TRUST MORTGAGE, LLC 14 2.91% $7,114
EQUITY RESOURCES, INC. 13 2.98% $8,295
AMERICAN FINANCING CORPORATION 13 2.84% $8,409
Blue Ridge Bank 13 3.25% $9,159
MORTGAGE SOLUTIONS OF COLORADO, LLC 13 3.88% $10,064
MUTUAL OF OMAHA MORTGAGE, INC. 13 2.90% $8,606
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 13 3.45% $9,788
First Home Bank 13 3.30% $9,574
PANORAMA MORTGAGE GROUP, LLC 12 3.03% $9,074
First-Citizens Bank & Trust Company 12 2.85% $7,394
The Central Trust Bank 12 3.09% $8,347
South Pacific Financial Corporation 11 2.66% $9,609
Bank of America 11 2.94% $6,662
AMERICAN FINANCIAL NETWORK, INC. 11 3.32% $13,466
TOP FLITE FINANCIAL, INC. 10 3.23% $12,814
T2 FINANCIAL LLC 10 2.99% $8,351
Citizens Bank 10 2.79% $7,394
UNITED SECURITY FINANCIAL CORP 10 2.65% $5,449
1ST SIGNATURE LENDING, LLC 9 3.26% $7,402
CAPITAL CENTER, L.L.C. 9 2.74% $5,600
FBC MORTGAGE, LLC 9 3.10% $7,859
Flagstar Bank, FSB 9 2.73% $7,189
SOVEREIGN LENDING GROUP INCORPORATED 8 2.94% $9,578
FLAT BRANCH MORTGAGE, INC. 7 3.27% $10,156
Shamrock Home Loans, Inc. 7 3.39% $8,839
Bank of England 7 3.13% $11,491
RAPID MORTGAGE COMPANY 7 3.16% $9,626
HAMILTON HOME LOANS, INC. 6 2.96% $8,059
LOANPAL, LLC 6 2.67% $8,828
Paramount Residential Mortgage Group, Inc. 6 3.08% $12,732
GENEVA FINANCIAL, LLC 6 3.06% $8,556
Atlantic Coast Mortgage, LLC 6 2.88% $6,558
KBHS HOME LOANS, LLC 6 3.52% $9,175
ZILLOW HOME LOANS, LLC 5 2.83% $7,570
TIDEWATER MORTGAGE SERVICES, INC. 5 2.63% $8,986
SUCCESS MORTGAGE PARTNERS, INC. 5 3.20% $6,600
Manufacturers and Traders Trust Company 5 3.23% $7,401
RESOURCE FINANCIAL SERVICES, INC. 5 2.75% $7,100
ALLIED MORTGAGE GROUP, INC. 5 2.65% $11,979
Wells Fargo Bank 5 3.35% $7,604
UNION HOME MORTGAGE CORP. 5 2.85% $9,550
AMCAP MORTGAGE, LTD. 4 3.16% $7,430
PNC Bank 4 2.69% $7,437
CERTAINTY HOME LOANS, LLC 4 3.03% $8,608
EMBRACE HOME LOANS, INC. 4 2.97% $9,774
Credence Funding Corporation 4 2.47% $5,643
AMERIFIRST FINANCIAL CORPORATION 4 4.31% $8,905
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 2.90% $8,292
US MORTGAGE CORPORATION 4 3.22% $7,481
LEADERONE FINANCIAL CORPORATION 4 2.88% $7,587
Victorian Finance, LLC 4 2.97% $6,735
United Fidelity Funding Corp. 3 3.13% $9,929
UNITED MORTGAGE CORP. 3 3.38% $13,847
Wyndham Capital Mortgage, Inc. 3 2.67% $8,119
Residential Mortgage Solutions, Inc. 3 2.92% $9,737
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 3.29% $8,130
MIDLAND MORTGAGE CORPORATION 3 3.08% $8,279
LADERA LENDING, INC. 3 3.00% $9,321
Barrington Bank & Trust Company, N.A. 3 3.50% $6,020
M/I FINANCIAL, LLC 3 2.92% $8,682
Northpointe Bank 3 3.00% $8,482
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 3.58% $10,454
Magnolia Bank 3 3.13% $8,347
SECURITYNATIONAL MORTGAGE COMPANY 3 3.67% $9,793
Encompass Lending Group, LP 3 3.33% $10,001
The Fidelity Bank 3 3.29% $7,891
SOUTHPOINT FINANCIAL SERVICES, INC. 3 2.79% $12,404
Peoples Bank 3 2.96% $9,292
Mortgage Research Center, LLC 3 3.38% $7,807
NP, Inc. 3 2.75% $8,891
Leaders Credit Union 2 3.50% $5,422
BAYSHORE MORTGAGE FUNDING, LLC 2 3.19% $9,284
South State Bank 2 2.31% $9,264
GUILD MORTGAGE COMPANY 2 3.06% $10,345
FIRST HOME MORTGAGE CORPORATION 2 2.81% $7,929
Fifth Third Bank 2 3.06% $6,383
JPMorgan Chase Bank 2 3.38% $0
INSPIRE HOME LOANS INC. 2 2.88% $7,553
GUARANTY HOME MORTGAGE CORPORATION 2 2.69% $9,634
The Huntington National Bank 2 3.19% $6,606
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.56% $9,345
KELLER MORTGAGE, LLC 2 2.81% $6,621
PHH Mortgage Corporation 2 2.88% $6,944
North American Savings Bank, F.S.B. 2 2.56% $9,311
FINANCE OF AMERICA MORTGAGE LLC 2 2.56% $9,204
Equity Prime Mortgage LLC 2 3.50% $8,313
POLARIS HOME FUNDING CORP. 2 3.00% $12,883
U.S. Bank 2 3.12% $7,115
HOMESTAR FINANCIAL CORPORATION 2 3.25% $8,466
Allen Tate Mortgage Partners, LLC 2 2.88% $6,969
PLAZA HOME MORTGAGE, INC. 2 2.87% $8,155
LOANLEADERS OF AMERICA, INC. 2 3.00% $11,184
First Savings Bank 2 3.25% $12,506
Pacor Mortgage Corp 1 2.88% $8,607
Gateway First Bank 1 2.88% $7,839
George Mason Mortgage, LLC 1 2.63% $6,822
GSF Mortgage Corporation 1 2.63% $7,146
First Mortgage Solutions, LLC 1 2.75% $6,200
First Internet Bank of Indiana 1 2.25% $10,112
FIRST COMMUNITY MORTGAGE, INC. 1 2.50% $9,490
Hometown Equity Mortgage, LLC 1 2.88% $7,479
INLAND BANK & TRUST 1 2.88% $6,579
FAMILY FIRST FUNDING LLC 1 3.25% $10,046
INTERLINC MORTGAGE SERVICES, LLC 1 3.38% $10,121
JET HOMELOANS, LLC 1 3.25% $8,553
FAIR WAY LENDING LLC 1 2.88% $8,990
Evolve Bank & Trust 1 3.25% $5,096
LENDUS, LLC 1 3.25% $6,228
LIBERTY HOME MORTGAGE CORPORATION 1 3.25% $12,367
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.25% $8,425
Low VA Rates, LLC 1 3.00% $3,660
MID AMERICA MORTGAGE, INC. 1 3.75% $6,742
MLD MORTGAGE INC. 1 2.25% $8,764
MORTGAGE FINANCIAL GROUP, INC. 1 2.88% $17,054
Mortgage Lenders Investment Trading Corporation 1 3.75% $7,016
DEVELOPER'S MORTGAGE COMPANY 1 2.88% $8,689
DAS Acquisition Company, LLC 1 2.75% $17,297
NATIONS DIRECT MORTGAGE, LLC 1 3.50% $7,545
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.75% $14,034
NBKC BANK 1 2.75% $5,650
CONTOUR MORTGAGE CORPORATION 1 3.00% $12,961
Colten Mortgage, LLC 1 3.25% $10,196
Colonial Savings, F.A. 1 3.25% $5,258
NTFN, INC. 1 3.38% $2,231
CLEARPATH LENDING 1 2.75% $4,629
OCEANSIDE MORTGAGE COMPANY 1 2.75% $4,344
Old Second National Bank 1 2.63% $5,816
ON Q FINANCIAL, INC. 1 2.88% $9,390
OVM FINANCIAL, INC. 1 2.38% $12,645
Florida Capital Bank 1 3.13% $12,224
City National Bank of Florida 1 3.13% $9,205
CHURCHILL MORTGAGE CORPORATION 1 3.25% $5,640
Plains Commerce Bank 1 2.63% $11,075
Christensen Financial, Inc. 1 3.75% $7,833
PREMIA MORTGAGE, LLC 1 2.99% $6,966
C & F Mortgage Corporation 1 3.50% $7,990
CELEBRITY HOME LOANS, LLC 1 3.88% $8,855
CBM Mortgage, Inc. 1 2.88% $8,260
BOKF 1 3.13% $5,866
BETTER MORTGAGE CORPORATION 1 2.50% $9,099
Bethpage Federal Credit Union 1 3.38% $2,601
ROYAL UNITED MORTGAGE LLC 1 3.25% $7,473
BELEM SERVICING LLC 1 2.75% $6,758
STEARNS LENDING, LLC 1 2.75% $4,621
Stifel Bank and Trust 1 2.38% $6,000
Strong Home Mortgage, LLC 1 3.25% $611
SUMMIT FUNDING, INC. 1 2.99% $8,714
SWBC MORTGAGE CORPORATION 1 3.50% $6,378
Synovus Bank 1 2.50% $6,781
Atlantic Home Loans, Inc. 1 2.99% $10,691
THRIVE MORTGAGE, LLC 1 3.13% $9,451
ARC HOME LLC 1 2.50% $5,590
TOWNE MORTGAGE COMPANY 1 2.63% $9,638
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 3.25% $6,248
United Bank 1 3.63% $5,838
AMERICAN FINANCIAL RESOURCES, INC. 1 3.88% $6,478
VAN DYK MORTGAGE CORPORATION 1 3.25% $7,854
Vellum Mortgage, Inc. 1 2.25% $7,671
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.88% $11,540
Wolfe Financial, Inc 1 3.00% $7,027

The top Raleigh FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 533 FHA loans originated. Their average total fees are $6,620, which is $1,116 lower than the next largest lender, MOVEMENT MORTGAGE, LLC.

The lowest fee Raleigh FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($3,027), Lakeview Community Capital, LLC ($5,134), LAKEVIEW LOAN SERVICING, LLC ($5,276), FREEDOM MORTGAGE CORPORATION ($5,306) and Mr. Cooper ( Nationstar Mortgage ) ($5,310).

The lowest rate Raleigh FHA lenders (with over 10 loans originated) are InterContinental Capital Group, Inc (2.54%), MATTAMY HOME FUNDING, LLC (2.61%), QUICKEN LOANS, LLC (2.64%), UNITED SECURITY FINANCIAL CORP (2.65%) and South Pacific Financial Corporation (2.66%).

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

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 $353,742 (3.6%) $425,099 (3.9%) 1.30 4,048
2018-02-01 $359,900 (3.6%) $428,887 (3.9%) 1.30 4,098
2018-03-01 $369,900 (2.8%) $440,880 (3.4%) 1.28 4,322
2018-04-01 $374,700 (1.8%) $442,115 (0.9%) 1.26 4,592
2018-05-01 $374,205 (1.2%) $444,706 (0.7%) 1.25 4,902
2018-06-01 $370,000 (1.4%) $448,058 (2.9%) 1.23 4,967
2018-07-01 $369,945 (1.4%) $449,779 (3.2%) 1.23 4,926
2018-08-01 $369,900 (1.6%) $448,388 (3.6%) 1.24 5,024
2018-09-01 $366,560 (0.5%) $444,302 (2.6%) 1.23 5,154
2018-10-01 $359,450 (-0.2%) $433,361 (0.7%) 1.20 5,399
2018-11-01 $354,950 (-1.4%) $430,588 (0.4%) 1.19 5,299
2018-12-01 $352,290 (-1.7%) $426,282 (-0.5%) 1.21 5,019
2019-01-01 $349,990 (-1.1%) $422,788 (-0.5%) 1.21 4,745
2019-02-01 $352,245 (-2.1%) $428,724 (0.0%) 1.18 4,717
2019-03-01 $363,743 (-1.7%) $439,143 (-0.4%) 1.19 4,707
2019-04-01 $369,995 (-1.3%) $449,632 (1.7%) 1.17 4,820
2019-05-01 $376,250 (0.6%) $457,233 (2.8%) 1.16 4,909
2019-06-01 $379,900 (2.7%) $456,497 (1.9%) 1.17 4,998
2019-07-01 $375,000 (1.4%) $454,546 (1.1%) 1.17 5,076
2019-08-01 $374,107 (1.1%) $450,811 (0.5%) 1.18 5,113
2019-09-01 $371,459 (1.3%) $446,679 (0.5%) 1.18 5,128
2019-10-01 $365,000 (1.5%) $444,197 (2.5%) 1.16 5,280
2019-11-01 $359,900 (1.4%) $442,820 (2.8%) 1.16 5,093
2019-12-01 $362,100 (2.8%) $445,520 (4.5%) 1.21 4,649
2020-01-01 $359,900 (2.8%) $444,663 (5.2%) 1.20 4,319
2020-02-01 $365,000 (3.6%) $450,856 (5.2%) 1.18 4,127
2020-03-01 $374,950 (3.1%) $462,522 (5.3%) 1.17 4,088
2020-04-01 $366,000 (-1.1%) $453,062 (0.8%) 1.14 4,348
2020-05-01 $374,900 (-0.4%) $466,999 (2.1%) 1.14 4,190
2020-06-01 $384,950 (1.3%) $487,082 (6.7%) 1.12 3,581
2020-07-01 $384,170 (2.5%) $487,805 (7.3%) 1.10 3,333
2020-08-01 $386,193 (3.2%) $487,666 (8.2%) 1.10 3,218
2020-09-01 $391,000 (5.3%) $496,732 (11.2%) 1.12 2,932
2020-10-01 $389,900 (6.8%) $497,109 (11.9%) 1.11 2,888
2020-11-01 $385,000 (7.0%) $493,715 (11.5%) 1.10 2,598
2020-12-01 $385,000 (6.3%) $496,449 (11.4%) 1.13 2,231
2021-01-01 $389,900 (8.3%) $507,114 (14.0%) 1.15 1,846
2021-02-01 $395,000 (8.2%) $525,054 (16.5%) 1.14 1,483
2021-03-01 $398,793 (6.4%) $531,609 (14.9%) 1.12 1,271
2021-04-01 $402,740 (10.0%) $544,638 (20.2%) 1.08 1,195
2021-05-01 $407,190 (8.6%) $554,238 (18.7%) 1.07 999
2021-06-01 $410,131 (6.5%) $562,410 (15.5%) 1.07 1,014
2021-07-01 $408,500 (6.3%) $547,527 (12.2%) 1.06 1,181
2021-08-01 $422,255 (9.3%) $567,561 (16.4%) 1.11 1,228
2021-09-01 $427,133 (9.2%) $559,329 (12.6%) 1.12 1,372
2021-10-01 $425,000 (9.0%) $556,756 (12.0%) 1.12 1,423
2021-11-01 $425,000 (10.4%) $554,431 (12.3%) 1.12 1,349
2021-12-01 $419,900 (9.1%) $551,202 (11.0%) 1.12 1,113
2022-01-01 $424,706 (8.9%) $569,984 (12.4%) 1.13 909
2022-02-01 $430,000 (8.9%) $594,027 (13.1%) 1.10 666
2022-03-01 $448,625 (12.5%) $632,932 (19.1%) 1.11 662
2022-04-01 $475,000 (17.9%) $624,166 (14.6%) 1.12 808
Raleigh's median listing price for 2022-04-01 was $475,000, a difference of $72,260 (17.9%) versus the prior year and $26,375 versus the prior month.

Raleigh's median listing price comes in at 112% of the national average.

Raleigh's average listing price for 2022-04-01 was $624,166, a difference of $79,528 (14.6%) versus the prior year and $-8,766 versus the prior month.

For the 2022-04-01 period, Raleigh had 808 MLS listings, a difference of 146 listings (22%) versus the prior month and -387 listings (-32%) 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 85 days 2,663 sqft
2018-02-01 72 days 2,655 sqft
2018-03-01 56 days 2,700 sqft
2018-04-01 53 days 2,681 sqft
2018-05-01 52 days 2,685 sqft
2018-06-01 56 days 2,668 sqft
2018-07-01 63 days 2,653 sqft
2018-08-01 65 days 2,654 sqft
2018-09-01 67 days 2,623 sqft
2018-10-01 72 days 2,592 sqft
2018-11-01 73 days 2,578 sqft
2018-12-01 82 days 2,563 sqft
2019-01-01 87 days 2,554 sqft
2019-02-01 82 days 2,558 sqft
2019-03-01 57 days 2,594 sqft
2019-04-01 50 days 2,630 sqft
2019-05-01 51 days 2,655 sqft
2019-06-01 51 days 2,639 sqft
2019-07-01 57 days 2,611 sqft
2019-08-01 59 days 2,595 sqft
2019-09-01 59 days 2,576 sqft
2019-10-01 60 days 2,544 sqft
2019-11-01 63 days 2,514 sqft
2019-12-01 69 days 2,520 sqft
2020-01-01 73 days 2,498 sqft
2020-02-01 64 days 2,530 sqft
2020-03-01 50 days 2,558 sqft
2020-04-01 50 days 2,503 sqft
2020-05-01 59 days 2,518 sqft
2020-06-01 63 days 2,547 sqft
2020-07-01 51 days 2,498 sqft
2020-08-01 43 days 2,474 sqft
2020-09-01 48 days 2,467 sqft
2020-10-01 49 days 2,425 sqft
2020-11-01 47 days 2,387 sqft
2020-12-01 51 days 2,378 sqft
2021-01-01 53 days 2,355 sqft
2021-02-01 36 days 2,309 sqft
2021-03-01 30 days 2,260 sqft
2021-04-01 23 days 2,303 sqft
2021-05-01 20 days 2,292 sqft
2021-06-01 15 days 2,254 sqft
2021-07-01 18 days 2,266 sqft
2021-08-01 19 days 2,258 sqft
2021-09-01 19 days 2,258 sqft
2021-10-01 19 days 2,249 sqft
2021-11-01 23 days 2,230 sqft
2021-12-01 33 days 2,198 sqft
2022-01-01 36 days 2,134 sqft
2022-02-01 20 days 2,161 sqft
2022-03-01 11 days 2,189 sqft
2022-04-01 9 days 2,260 sqft
Raleigh's median listing age (time on market) for 2022-04-01 was 9 days. This is -61% shorter than the same period one year ago.

Raleigh's median square footage for active listings during the 2022-04-01 period was 2,260 sqft. One year prior, the average listing was 2,303 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).