Roanoke Rapids FHA Loan Rates, Closing Costs & Stats

Roanoke Rapids, NC

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Roanoke Rapids's 47 lenders originated 146 FHA loans during 2024. The total origination value was $24,890,000, with an average FHA loan value of $170,479.

    Roanoke Rapids FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Roanoke Rapids averaged 6.32% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Roanoke Rapids's average FHA mortgage closing costs are $7,154.

    The average rate for the prior week (2025-03-28) was 6.82% and one month ago for the week of 2025-02-28, the average rate was 6.8%.

    The average rate one year ago was 6.82%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.16%.

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

    Roanoke Rapids 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 Roanoke Rapids level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 36 6.65% $9,461
    QUICKEN LOANS, LLC 18 6.30% $9,485
    INTERCOASTAL MORTGAGE COMPANY 5 6.65% $9,066
    GUARANTEED RATE, INC. 5 6.67% $9,065
    FREEDOM MORTGAGE CORPORATION 3 6.33% $10,007
    LOANDEPOT.COM, LLC 3 5.96% $7,101
    SUN WEST MORTGAGE COMPANY, INC. 3 6.70% $7,160
    UNITED WHOLESALE MORTGAGE, LLC 3 5.50% $11,057
    BROKER SOLUTIONS, INC. 3 6.92% $9,211
    First-Citizens Bank & Trust Company 2 6.38% $8,591
    CORNERSTONE HOME LENDING, INC. 2 6.44% $5,678
    1ST SIGNATURE LENDING, LLC 2 6.81% $11,700
    LOANPAL, LLC 2 5.44% $11,969
    TOWNE MORTGAGE COMPANY 2 6.50% $10,842
    PENNYMAC LOAN SERVICES, LLC 2 6.19% $8,820
    Alcova Mortgage LLC 2 6.94% $5,773
    CARDINAL FINANCIAL 2 6.75% $8,609
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.25% $9,558
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.00% $12,927
    NEWREZ LLC 1 5.75% $10,409
    NFM, INC. 1 5.63% $11,511
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $7,040
    PLANET HOME LENDING, LLC 1 6.75% $8,159
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $12,320
    Prosperity Home Mortgage, LLC 1 6.25% $11,864
    RELIANCE FIRST CAPITAL, LLC 1 7.00% $6,579
    The Huntington National Bank 1 6.25% $5,621
    Truist 1 5.70% $8,313
    Wells Fargo Bank 1 6.50% $8,557
    ZILLOW HOME LOANS, LLC 1 7.25% $4,958
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $10,535
    American Mortgage & Equity Consultants, Inc. 1 6.50% $10,599
    American Security Mortgage Corp. 1 7.13% $7,842
    AMERISAVE MORTGAGE CORPORATION 1 5.50% $6,958
    Atlantic Coast Mortgage, LLC 1 6.13% $5,391
    Blue Ridge Bank 1 7.00% $5,983
    CALCON MUTUAL MORTGAGE LLC 1 6.63% $10,185
    CAPITAL CENTER, L.L.C. 1 6.63% $2,355
    Carrington Mortgage Services, LLC 1 7.63% $6,049
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $16,183
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $7,561
    ISERVE RESIDENTIAL LENDING, LLC 1 6.13% $10,107
    Keystone Funding, Inc. 1 6.38% $11,733
    Lakeview Community Capital, LLC 1 6.25% $5,774
    Mortgage Research Center, LLC 1 7.25% $5,766
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $9,297
    MOVEMENT MORTGAGE, LLC 1 6.63% $8,171

    The top Roanoke Rapids FHA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 36 FHA loans originated. Their average total fees are $9,461, which is $24 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Roanoke Rapids FHA lenders (with over 10 loans originated) are ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($9,461), QUICKEN LOANS, LLC ($9,485), .

    The lowest rate Roanoke Rapids FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.30%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.65%), .

    Roanoke Rapids FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ROANOKE RAPIDS, NC HALIFAX 2022 $420,680 $538,650 $651,050 $809,150
    ROANOKE RAPIDS, NC NORTHAMPTON 2022 $420,680 $538,650 $651,050 $809,150
    ROANOKE RAPIDS, NC HALIFAX 2023 $472,030 $604,400 $730,525 $907,900
    ROANOKE RAPIDS, NC NORTHAMPTON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Roanoke Rapids (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 $149,925 (0.0%) $236,266 (-3.9%) 0.00 265
    2018-02-01 $153,950 (-12.4%) $242,547 (-4.9%) 0.00 267
    2018-03-01 $169,900 (-8.4%) $246,321 (-5.7%) 0.00 283
    2018-04-01 $180,550 (-2.4%) $262,551 (-1.4%) 0.00 285
    2018-05-01 $167,450 (-13.0%) $261,191 (-2.8%) 0.00 293
    2018-06-01 $165,000 (-5.0%) $249,377 (-2.1%) 0.00 286
    2018-07-01 $156,700 (-2.5%) $245,790 (1.2%) 0.00 282
    2018-08-01 $147,425 (-15.8%) $235,040 (-7.3%) 0.00 280
    2018-09-01 $139,900 (-21.8%) $224,663 (-12.5%) 0.00 293
    2018-10-01 $139,900 (-21.4%) $223,370 (-9.7%) 0.00 274
    2018-11-01 $136,225 (-24.3%) $220,026 (-13.0%) 0.00 264
    2018-12-01 $129,900 (-27.4%) $204,059 (-19.2%) 0.00 263
    2019-01-01 $134,975 (-10.0%) $218,162 (-7.7%) 0.00 259
    2019-02-01 $137,250 (-10.9%) $228,884 (-5.6%) 0.00 265
    2019-03-01 $152,571 (-10.2%) $237,452 (-3.6%) 0.00 265
    2019-04-01 $168,750 (-6.5%) $247,543 (-5.7%) 0.00 264
    2019-05-01 $185,350 (10.7%) $275,915 (5.6%) 0.00 262
    2019-06-01 $205,000 (24.2%) $292,361 (17.2%) 0.00 250
    2019-07-01 $199,675 (27.4%) $280,084 (14.0%) 0.00 236
    2019-08-01 $194,118 (31.7%) $272,285 (15.9%) 0.00 227
    2019-09-01 $186,120 (33.0%) $265,238 (18.1%) 0.00 224
    2019-10-01 $180,789 (29.2%) $260,235 (16.5%) 0.00 224
    2019-11-01 $188,500 (38.4%) $268,578 (22.1%) 0.00 227
    2019-12-01 $188,625 (45.2%) $270,115 (32.4%) 0.00 226
    2020-01-01 $188,875 (39.9%) $264,260 (21.1%) 0.00 209
    2020-02-01 $189,000 (37.7%) $273,705 (19.6%) 0.00 193
    2020-03-01 $186,000 (21.9%) $280,383 (18.1%) 0.00 203
    2020-04-01 $179,500 (6.4%) $280,381 (13.3%) 0.00 193
    2020-05-01 $179,000 (-3.4%) $268,493 (-2.7%) 0.00 169
    2020-06-01 $168,575 (-17.8%) $269,787 (-7.7%) 0.00 157
    2020-07-01 $175,000 (-12.4%) $268,576 (-4.1%) 0.00 150
    2020-08-01 $169,700 (-12.6%) $277,767 (2.0%) 0.00 140
    2020-09-01 $169,250 (-9.1%) $310,451 (17.1%) 0.00 139
    2020-10-01 $150,000 (-17.0%) $297,267 (14.2%) 0.00 133
    2020-11-01 $132,200 (-29.9%) $280,018 (4.3%) 0.00 149
    2020-12-01 $146,975 (-22.1%) $291,310 (7.9%) 0.00 128
    2021-01-01 $149,900 (-20.6%) $289,741 (9.6%) 0.00 123
    2021-02-01 $149,783 (-20.8%) $286,600 (4.7%) 0.00 105
    2021-03-01 $152,191 (-18.2%) $301,862 (7.7%) 0.00 88
    2021-04-01 $152,450 (-15.1%) $306,829 (9.4%) 0.00 80
    2021-05-01 $210,000 (17.3%) $335,753 (25.1%) 0.00 74
    2021-06-01 $217,500 (29.0%) $361,206 (33.9%) 0.00 73
    2021-07-01 $224,950 (28.5%) $343,205 (27.8%) 0.00 79
    2021-08-01 $230,475 (35.8%) $336,017 (21.0%) 0.00 74
    2021-09-01 $220,000 (30.0%) $316,727 (2.0%) 0.00 72
    2021-10-01 $199,000 (32.7%) $317,058 (6.7%) 0.00 67
    2021-11-01 $203,725 (54.1%) $379,391 (35.5%) 0.00 76
    2021-12-01 $188,725 (28.4%) $404,403 (38.8%) 0.00 66
    2022-01-01 $192,450 (28.4%) $387,997 (33.9%) 0.00 65
    2022-02-01 $196,750 (31.4%) $348,670 (21.7%) 0.00 61
    2022-03-01 $224,900 (47.8%) $407,704 (35.1%) 0.00 62
    2022-04-01 $236,000 (54.8%) $401,567 (30.9%) 0.00 72
    2022-05-01 $255,250 (21.6%) $447,797 (33.4%) 0.00 79
    2022-06-01 $299,500 (37.7%) $483,889 (34.0%) 0.00 83
    2022-07-01 $289,500 (28.7%) $471,946 (37.5%) 0.00 99
    2022-08-01 $247,000 (7.2%) $421,283 (25.4%) 0.00 112
    2022-09-01 $238,725 (8.5%) $392,414 (23.9%) 0.00 105
    2022-10-01 $249,950 (25.6%) $390,411 (23.1%) 0.00 105
    2022-11-01 $257,500 (26.4%) $413,673 (9.0%) 0.00 96
    2022-12-01 $270,999 (43.6%) $408,931 (1.1%) 0.00 90
    2023-01-01 $270,999 (40.8%) $401,451 (3.5%) 0.00 86
    2023-02-01 $249,675 (26.9%) $425,949 (22.2%) 0.00 84
    2023-03-01 $199,498 (-11.3%) $314,518 (-22.9%) 0.00 83
    2023-04-01 $212,900 (-9.8%) $353,709 (-11.9%) 0.00 83
    2023-05-01 $230,000 (-9.9%) $326,607 (-27.1%) 0.00 97
    2023-06-01 $249,675 (-16.6%) $390,581 (-19.3%) 0.00 100
    2023-07-01 $214,000 (-26.1%) $354,574 (-24.9%) 0.00 97
    2023-08-01 $199,000 (-19.4%) $332,557 (-21.1%) 0.00 106
    2023-09-01 $184,000 (-22.9%) $312,044 (-20.5%) 0.00 96
    2023-10-01 $220,250 (-11.9%) $386,340 (-1.0%) 0.00 107
    2023-11-01 $220,000 (-14.6%) $385,202 (-6.9%) 0.00 102
    2023-12-01 $215,000 (-20.7%) $360,421 (-11.9%) 0.00 103
    2024-01-01 $199,675 (-26.3%) $355,300 (-11.5%) 0.00 97
    2024-02-01 $199,250 (-20.2%) $328,902 (-22.8%) 0.00 96
    2024-03-01 $209,450 (5.0%) $392,241 (24.7%) 0.00 97
    2024-04-01 $249,500 (17.2%) $424,366 (20.0%) 0.00 107
    2024-05-01 $250,725 (9.0%) $435,978 (33.5%) 0.00 111
    2024-06-01 $260,000 (4.1%) $444,799 (13.9%) 0.00 117
    2024-07-01 $267,350 (24.9%) $455,818 (28.6%) 0.00 117
    2024-08-01 $275,000 (38.2%) $451,748 (35.8%) 0.00 115
    2024-09-01 $286,975 (56.0%) $479,948 (53.8%) 0.00 115
    2024-10-01 $287,625 (30.6%) $458,381 (18.7%) 0.00 110
    2024-11-01 $274,750 (24.9%) $469,498 (21.9%) 0.00 120
    2024-12-01 $274,875 (27.9%) $431,562 (19.7%) 0.00 136
    2025-01-01 $274,750 (37.6%) $445,215 (25.3%) 0.00 133
    2025-02-01 $281,200 (41.1%) $481,936 (46.5%) 0.00 138
    2025-03-01 $279,900 (33.6%) $499,082 (27.2%) 0.00 149
    Roanoke Rapids's median listing price for 2025-03-01 was $279,900, a difference of $70,450 (33.6%) versus the prior year and $-1,300 versus the prior month.

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

    Roanoke Rapids's average listing price for 2025-03-01 was $499,082, a difference of $106,841 (27.2%) versus the prior year and $17,146 versus the prior month.

    For the 2025-03-01 period, Roanoke Rapids had 149 MLS listings, a difference of 11 listings (8%) versus the prior month and 52 listings (54%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Roanoke Rapids (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,762 sqft
    2018-02-01 0 days 1,795 sqft
    2018-03-01 0 days 1,885 sqft
    2018-04-01 0 days 1,937 sqft
    2018-05-01 0 days 1,849 sqft
    2018-06-01 0 days 1,823 sqft
    2018-07-01 0 days 1,825 sqft
    2018-08-01 0 days 1,823 sqft
    2018-09-01 0 days 1,820 sqft
    2018-10-01 0 days 1,823 sqft
    2018-11-01 0 days 1,822 sqft
    2018-12-01 0 days 1,745 sqft
    2019-01-01 0 days 1,765 sqft
    2019-02-01 0 days 1,748 sqft
    2019-03-01 0 days 1,755 sqft
    2019-04-01 0 days 1,768 sqft
    2019-05-01 0 days 1,831 sqft
    2019-06-01 0 days 1,932 sqft
    2019-07-01 0 days 1,868 sqft
    2019-08-01 0 days 1,823 sqft
    2019-09-01 0 days 1,823 sqft
    2019-10-01 0 days 1,823 sqft
    2019-11-01 0 days 1,823 sqft
    2019-12-01 0 days 1,823 sqft
    2020-01-01 0 days 1,823 sqft
    2020-02-01 0 days 1,823 sqft
    2020-03-01 0 days 1,823 sqft
    2020-04-01 0 days 1,823 sqft
    2020-05-01 0 days 1,806 sqft
    2020-06-01 0 days 1,823 sqft
    2020-07-01 0 days 1,823 sqft
    2020-08-01 0 days 1,809 sqft
    2020-09-01 0 days 1,728 sqft
    2020-10-01 0 days 1,693 sqft
    2020-11-01 0 days 1,567 sqft
    2020-12-01 0 days 1,568 sqft
    2021-01-01 0 days 1,792 sqft
    2021-02-01 0 days 1,754 sqft
    2021-03-01 0 days 1,786 sqft
    2021-04-01 0 days 1,605 sqft
    2021-05-01 0 days 1,790 sqft
    2021-06-01 0 days 2,152 sqft
    2021-07-01 0 days 1,929 sqft
    2021-08-01 0 days 1,873 sqft
    2021-09-01 0 days 1,801 sqft
    2021-10-01 0 days 1,764 sqft
    2021-11-01 0 days 1,856 sqft
    2021-12-01 0 days 1,877 sqft
    2022-01-01 0 days 1,796 sqft
    2022-02-01 0 days 1,826 sqft
    2022-03-01 0 days 1,916 sqft
    2022-04-01 0 days 1,963 sqft
    2022-05-01 0 days 2,035 sqft
    2022-06-01 0 days 2,330 sqft
    2022-07-01 0 days 2,242 sqft
    2022-08-01 0 days 2,167 sqft
    2022-09-01 0 days 1,873 sqft
    2022-10-01 0 days 1,800 sqft
    2022-11-01 0 days 2,033 sqft
    2022-12-01 0 days 2,280 sqft
    2023-01-01 0 days 2,346 sqft
    2023-02-01 0 days 2,177 sqft
    2023-03-01 0 days 1,913 sqft
    2023-04-01 0 days 1,738 sqft
    2023-05-01 0 days 1,748 sqft
    2023-06-01 0 days 1,854 sqft
    2023-07-01 0 days 1,775 sqft
    2023-08-01 0 days 1,783 sqft
    2023-09-01 0 days 1,800 sqft
    2023-10-01 0 days 1,969 sqft
    2023-11-01 0 days 1,815 sqft
    2023-12-01 0 days 1,756 sqft
    2024-01-01 0 days 1,789 sqft
    2024-02-01 0 days 1,731 sqft
    2024-03-01 0 days 1,680 sqft
    2024-04-01 0 days 1,759 sqft
    2024-05-01 0 days 1,736 sqft
    2024-06-01 0 days 1,689 sqft
    2024-07-01 0 days 1,730 sqft
    2024-08-01 0 days 1,728 sqft
    2024-09-01 0 days 1,781 sqft
    2024-10-01 0 days 1,736 sqft
    2024-11-01 0 days 1,751 sqft
    2024-12-01 0 days 1,660 sqft
    2025-01-01 0 days 1,628 sqft
    2025-02-01 0 days 1,628 sqft
    2025-03-01 0 days 1,628 sqft
    Roanoke Rapids's median listing age (time on market) for 2025-03-01 was 0 days.

    Roanoke Rapids's median square footage for active listings during the 2025-03-01 period was 1,628 sqft. One year prior, the average listing was 1,680 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).