Rocky Mount FHA Loan Rates, Closing Costs & Stats
ROCKY MOUNT, 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.
Rocky Mount's 87 lenders originated 503 FHA loans during 2023. The total origination value was $109,155,000, with an average FHA loan value of $217,008.
Rocky Mount FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Rocky Mount
averaged
-0.26%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Rocky Mount's average FHA mortgage closing costs are $7,402.
The average rate for the prior week (2024-11-22) was
6.23% and
one month ago for the week of 2024-10-25, the
average rate was 5.91%.
The average rate one year ago was 7%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0%.
Rocky Mount 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 Rocky Mount level.
The top Rocky Mount FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
53 FHA loans originated. Their average total fees are
$8,941, which is $1,456
lower than the next largest lender,
ATLANTIC BAY MORTGAGE GROUP, L.L.C..
The lowest fee Rocky Mount FHA lenders (with over 10 loans originated) are
LOANDEPOT.COM, LLC ($7,703), QUICKEN LOANS, LLC ($8,941), NFM, INC. ($9,637), MOVEMENT MORTGAGE, LLC ($9,704) and INSPIRE HOME LOANS INC. ($10,052).
The lowest rate Rocky Mount FHA lenders (with over 10 loans originated) are
INSPIRE HOME LOANS INC. (5.93%), UNITED WHOLESALE MORTGAGE, LLC (6.09%), MOVEMENT MORTGAGE, LLC (6.36%), GUARANTEED RATE, INC. (6.42%) and QUICKEN LOANS, LLC (6.47%).
Rocky Mount FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
ROCKY MOUNT, NC | EDGECOMBE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
ROCKY MOUNT, NC | NASH | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
ROCKY MOUNT, NC | EDGECOMBE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
ROCKY MOUNT, NC | NASH | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Rocky Mount (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $133,490 (11.3%) | $170,429 (11.0%) | 0.49 | 520 |
2018-02-01 | $132,500 (20.6%) | $170,486 (-7.3%) | 0.48 | 494 |
2018-03-01 | $135,000 (22.8%) | $174,645 (8.0%) | 0.47 | 482 |
2018-04-01 | $141,000 (22.7%) | $178,086 (6.6%) | 0.48 | 489 |
2018-05-01 | $133,948 (16.6%) | $171,498 (1.9%) | 0.45 | 528 |
2018-06-01 | $135,200 (14.2%) | $170,730 (6.8%) | 0.45 | 525 |
2018-07-01 | $135,900 (13.3%) | $172,533 (9.4%) | 0.45 | 499 |
2018-08-01 | $144,245 (16.4%) | $178,849 (13.9%) | 0.48 | 489 |
2018-09-01 | $144,695 (16.2%) | $177,598 (13.2%) | 0.49 | 474 |
2018-10-01 | $142,035 (10.4%) | $174,595 (7.2%) | 0.48 | 457 |
2018-11-01 | $135,500 (4.1%) | $169,930 (1.5%) | 0.46 | 449 |
2018-12-01 | $138,900 (4.6%) | $172,172 (2.0%) | 0.48 | 418 |
2019-01-01 | $134,150 (0.5%) | $171,425 (0.6%) | 0.46 | 423 |
2019-02-01 | $134,900 (1.8%) | $170,280 (-0.1%) | 0.46 | 432 |
2019-03-01 | $133,681 (-1.0%) | $173,101 (-0.9%) | 0.44 | 430 |
2019-04-01 | $132,201 (-6.2%) | $178,029 (0.0%) | 0.42 | 428 |
2019-05-01 | $134,945 (0.7%) | $182,204 (6.2%) | 0.42 | 425 |
2019-06-01 | $134,900 (-0.2%) | $190,301 (11.5%) | 0.42 | 397 |
2019-07-01 | $135,470 (-0.3%) | $195,998 (13.6%) | 0.42 | 391 |
2019-08-01 | $135,336 (-6.2%) | $191,891 (7.3%) | 0.43 | 393 |
2019-09-01 | $134,416 (-7.1%) | $185,613 (4.5%) | 0.43 | 396 |
2019-10-01 | $131,800 (-7.2%) | $177,256 (1.5%) | 0.43 | 395 |
2019-11-01 | $134,900 (-0.4%) | $177,940 (4.7%) | 0.44 | 382 |
2019-12-01 | $149,800 (7.9%) | $185,696 (7.9%) | 0.50 | 327 |
2020-01-01 | $148,548 (10.7%) | $185,363 (8.1%) | 0.50 | 318 |
2020-02-01 | $149,950 (11.2%) | $190,936 (12.1%) | 0.49 | 315 |
2020-03-01 | $156,900 (17.4%) | $198,001 (14.4%) | 0.49 | 306 |
2020-04-01 | $150,000 (13.5%) | $197,357 (10.9%) | 0.47 | 297 |
2020-05-01 | $151,950 (12.6%) | $198,607 (9.0%) | 0.46 | 269 |
2020-06-01 | $160,000 (18.6%) | $206,900 (8.7%) | 0.47 | 216 |
2020-07-01 | $160,000 (18.1%) | $217,464 (11.0%) | 0.46 | 191 |
2020-08-01 | $164,000 (21.2%) | $212,454 (10.7%) | 0.47 | 170 |
2020-09-01 | $165,999 (23.5%) | $216,857 (16.8%) | 0.48 | 151 |
2020-10-01 | $199,900 (51.7%) | $229,812 (29.7%) | 0.57 | 172 |
2020-11-01 | $201,200 (49.2%) | $222,928 (25.3%) | 0.59 | 170 |
2020-12-01 | $204,800 (36.7%) | $229,744 (23.7%) | 0.61 | 176 |
2021-01-01 | $199,000 (34.0%) | $227,323 (22.6%) | 0.59 | 164 |
2021-02-01 | $194,650 (29.8%) | $231,039 (21.0%) | 0.57 | 139 |
2021-03-01 | $200,625 (27.9%) | $238,968 (20.7%) | 0.57 | 125 |
2021-04-01 | $216,850 (44.6%) | $249,544 (26.4%) | 0.59 | 116 |
2021-05-01 | $222,000 (46.1%) | $255,646 (28.7%) | 0.59 | 112 |
2021-06-01 | $219,850 (37.4%) | $251,471 (21.5%) | 0.58 | 144 |
2021-07-01 | $202,450 (26.5%) | $239,356 (10.1%) | 0.53 | 167 |
2021-08-01 | $202,995 (23.8%) | $252,582 (18.9%) | 0.54 | 201 |
2021-09-01 | $199,650 (20.3%) | $252,590 (16.5%) | 0.53 | 210 |
2021-10-01 | $210,000 (5.1%) | $263,081 (14.5%) | 0.56 | 187 |
2021-11-01 | $201,250 (0.0%) | $249,540 (11.9%) | 0.54 | 210 |
2021-12-01 | $211,895 (3.5%) | $254,355 (10.7%) | 0.57 | 186 |
2022-01-01 | $224,900 (13.0%) | $263,973 (16.1%) | 0.61 | 152 |
2022-02-01 | $219,900 (13.0%) | $247,101 (7.0%) | 0.57 | 111 |
2022-03-01 | $219,500 (9.4%) | $249,149 (4.3%) | 0.55 | 91 |
2022-04-01 | $220,320 (1.6%) | $246,748 (-1.1%) | 0.53 | 108 |
2022-05-01 | $233,575 (5.2%) | $259,827 (1.6%) | 0.53 | 148 |
2022-06-01 | $249,925 (13.7%) | $278,334 (10.7%) | 0.56 | 156 |
2022-07-01 | $252,400 (24.7%) | $281,478 (17.6%) | 0.57 | 197 |
2022-08-01 | $273,650 (34.8%) | $286,569 (13.5%) | 0.63 | 237 |
2022-09-01 | $284,030 (42.3%) | $294,249 (16.5%) | 0.66 | 249 |
2022-10-01 | $277,450 (32.1%) | $292,338 (11.1%) | 0.65 | 293 |
2022-11-01 | $277,424 (37.9%) | $291,946 (17.0%) | 0.67 | 318 |
2022-12-01 | $269,900 (27.4%) | $294,643 (15.8%) | 0.67 | 301 |
2023-01-01 | $277,473 (23.4%) | $302,689 (14.7%) | 0.69 | 271 |
2023-02-01 | $277,995 (26.4%) | $300,512 (21.6%) | 0.67 | 264 |
2023-03-01 | $289,900 (32.1%) | $309,481 (24.2%) | 0.68 | 250 |
2023-04-01 | $294,900 (33.9%) | $310,232 (25.7%) | 0.69 | 236 |
2023-05-01 | $299,923 (28.4%) | $307,694 (18.4%) | 0.68 | 220 |
2023-06-01 | $306,468 (22.6%) | $322,357 (15.8%) | 0.69 | 246 |
2023-07-01 | $300,000 (18.9%) | $306,259 (8.8%) | 0.68 | 238 |
2023-08-01 | $301,494 (10.2%) | $309,281 (7.9%) | 0.69 | 232 |
2023-09-01 | $299,990 (5.6%) | $311,177 (5.8%) | 0.70 | 246 |
2023-10-01 | $300,647 (8.4%) | $299,349 (2.4%) | 0.71 | 262 |
2023-11-01 | $287,350 (3.6%) | $292,729 (0.3%) | 0.68 | 288 |
2023-12-01 | $292,400 (8.3%) | $291,301 (-1.1%) | 0.71 | 313 |
2024-01-01 | $288,450 (4.0%) | $289,168 (-4.5%) | 0.70 | 299 |
2024-02-01 | $279,598 (0.6%) | $287,412 (-4.4%) | 0.67 | 305 |
2024-03-01 | $278,400 (-4.0%) | $286,780 (-7.3%) | 0.66 | 307 |
2024-04-01 | $304,900 (3.4%) | $298,750 (-3.7%) | 0.71 | 297 |
2024-05-01 | $294,950 (-1.7%) | $298,816 (-2.9%) | 0.67 | 319 |
2024-06-01 | $299,900 (-2.1%) | $303,197 (-5.9%) | 0.67 | 351 |
2024-07-01 | $284,950 (-5.0%) | $297,614 (-2.8%) | 0.65 | 345 |
2024-08-01 | $279,990 (-7.1%) | $294,586 (-4.8%) | 0.65 | 367 |
2024-09-01 | $289,900 (-3.4%) | $297,371 (-4.4%) | 0.68 | 369 |
2024-10-01 | $296,125 (-1.5%) | $303,711 (1.5%) | 0.70 | 381 |
Rocky Mount's median listing price comes in at 70% of the national average.
Rocky Mount's average listing price for 2024-10-01 was $303,711, a difference of $4,362 (1.5%) versus the prior year and $6,340 versus the prior month.
For the 2024-10-01 period, Rocky Mount had 381 MLS listings, a difference of 12 listings (3%) versus the prior month and 119 listings (45%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Rocky Mount (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 109 days | 1,768 sqft |
2018-02-01 | 101 days | 1,737 sqft |
2018-03-01 | 99 days | 1,778 sqft |
2018-04-01 | 76 days | 1,859 sqft |
2018-05-01 | 62 days | 1,720 sqft |
2018-06-01 | 67 days | 1,740 sqft |
2018-07-01 | 74 days | 1,728 sqft |
2018-08-01 | 88 days | 1,803 sqft |
2018-09-01 | 88 days | 1,792 sqft |
2018-10-01 | 95 days | 1,769 sqft |
2018-11-01 | 93 days | 1,763 sqft |
2018-12-01 | 100 days | 1,766 sqft |
2019-01-01 | 94 days | 1,756 sqft |
2019-02-01 | 77 days | 1,730 sqft |
2019-03-01 | 75 days | 1,710 sqft |
2019-04-01 | 78 days | 1,691 sqft |
2019-05-01 | 80 days | 1,699 sqft |
2019-06-01 | 84 days | 1,698 sqft |
2019-07-01 | 90 days | 1,700 sqft |
2019-08-01 | 84 days | 1,681 sqft |
2019-09-01 | 79 days | 1,652 sqft |
2019-10-01 | 76 days | 1,632 sqft |
2019-11-01 | 85 days | 1,658 sqft |
2019-12-01 | 85 days | 1,747 sqft |
2020-01-01 | 96 days | 1,696 sqft |
2020-02-01 | 84 days | 1,790 sqft |
2020-03-01 | 64 days | 1,863 sqft |
2020-04-01 | 67 days | 1,846 sqft |
2020-05-01 | 75 days | 1,770 sqft |
2020-06-01 | 86 days | 1,875 sqft |
2020-07-01 | 73 days | 1,889 sqft |
2020-08-01 | 64 days | 1,772 sqft |
2020-09-01 | 53 days | 1,806 sqft |
2020-10-01 | 42 days | 1,777 sqft |
2020-11-01 | 51 days | 1,828 sqft |
2020-12-01 | 64 days | 1,790 sqft |
2021-01-01 | 64 days | 1,789 sqft |
2021-02-01 | 47 days | 1,866 sqft |
2021-03-01 | 47 days | 1,806 sqft |
2021-04-01 | 40 days | 1,922 sqft |
2021-05-01 | 43 days | 1,928 sqft |
2021-06-01 | 35 days | 1,985 sqft |
2021-07-01 | 41 days | 1,892 sqft |
2021-08-01 | 40 days | 1,823 sqft |
2021-09-01 | 43 days | 1,771 sqft |
2021-10-01 | 44 days | 1,809 sqft |
2021-11-01 | 44 days | 1,742 sqft |
2021-12-01 | 49 days | 1,755 sqft |
2022-01-01 | 56 days | 1,776 sqft |
2022-02-01 | 66 days | 1,660 sqft |
2022-03-01 | 42 days | 1,692 sqft |
2022-04-01 | 33 days | 1,690 sqft |
2022-05-01 | 31 days | 1,716 sqft |
2022-06-01 | 35 days | 1,684 sqft |
2022-07-01 | 39 days | 1,704 sqft |
2022-08-01 | 44 days | 1,735 sqft |
2022-09-01 | 52 days | 1,859 sqft |
2022-10-01 | 54 days | 1,894 sqft |
2022-11-01 | 56 days | 1,859 sqft |
2022-12-01 | 70 days | 1,824 sqft |
2023-01-01 | 86 days | 1,870 sqft |
2023-02-01 | 83 days | 1,880 sqft |
2023-03-01 | 67 days | 1,927 sqft |
2023-04-01 | 58 days | 1,902 sqft |
2023-05-01 | 51 days | 1,940 sqft |
2023-06-01 | 49 days | 1,894 sqft |
2023-07-01 | 51 days | 1,869 sqft |
2023-08-01 | 53 days | 1,876 sqft |
2023-09-01 | 47 days | 1,902 sqft |
2023-10-01 | 54 days | 1,846 sqft |
2023-11-01 | 49 days | 1,808 sqft |
2023-12-01 | 51 days | 1,811 sqft |
2024-01-01 | 62 days | 1,800 sqft |
2024-02-01 | 64 days | 1,741 sqft |
2024-03-01 | 56 days | 1,772 sqft |
2024-04-01 | 55 days | 1,732 sqft |
2024-05-01 | 52 days | 1,689 sqft |
2024-06-01 | 49 days | 1,724 sqft |
2024-07-01 | 58 days | 1,704 sqft |
2024-08-01 | 65 days | 1,707 sqft |
2024-09-01 | 66 days | 1,758 sqft |
2024-10-01 | 64 days | 1,800 sqft |
Rocky Mount's median square footage for active listings during the 2024-10-01 period was 1,800 sqft. One year prior, the average listing was 1,846 sqft.