Searcy FHA Loan Rates, Closing Costs & Stats
Searcy, AR
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.
Searcy's 54 lenders originated 213 FHA loans during 2023. The total origination value was $38,145,000, with an average FHA loan value of $179,085.
Searcy FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Searcy
averaged
-0.2%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Searcy's average FHA mortgage closing costs are $5,924.
The average rate for the prior week (2024-11-22) was
6.49% and
one month ago for the week of 2024-10-25, the
average rate was 6.07%.
The average rate one year ago was 6.86%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.2%.
Searcy 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 Searcy level.
The top Searcy FHA lender as defined by loan originations is First Community Bank, with
26 FHA loans originated. Their average total fees are
$7,207, which is $2,496
lower than the next largest lender,
FirstTrust Home Loans, Inc..
The lowest fee Searcy FHA lenders (with over 10 loans originated) are
First Security Bank ($5,123), FLAT BRANCH MORTGAGE, INC. ($6,980), First Community Bank ($7,207), QUICKEN LOANS, LLC ($7,417) and Bank of England ($7,884).
The lowest rate Searcy FHA lenders (with over 10 loans originated) are
First Security Bank (6.03%), MORTGAGE FINANCIAL SERVICES, LLC (6.24%), First Community Bank (6.40%), Bank of England (6.46%) and QUICKEN LOANS, LLC (6.47%).
Searcy FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
SEARCY, AR | WHITE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
SEARCY, AR | WHITE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Searcy (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 | $132,675 (-1.1%) | $174,511 (-0.8%) | 0.00 | 311 |
2018-02-01 | $134,675 (0.6%) | $176,178 (1.7%) | 0.00 | 301 |
2018-03-01 | $139,900 (0.5%) | $178,677 (0.5%) | 0.00 | 311 |
2018-04-01 | $148,975 (8.0%) | $185,669 (3.8%) | 0.00 | 323 |
2018-05-01 | $148,500 (5.3%) | $182,895 (-2.9%) | 0.00 | 328 |
2018-06-01 | $144,500 (-0.8%) | $182,982 (-4.6%) | 0.00 | 373 |
2018-07-01 | $146,750 (-1.8%) | $186,260 (-2.5%) | 0.00 | 376 |
2018-08-01 | $147,975 (-0.5%) | $183,766 (-2.0%) | 0.00 | 371 |
2018-09-01 | $149,000 (-0.6%) | $187,261 (-1.2%) | 0.00 | 365 |
2018-10-01 | $146,375 (-2.4%) | $218,458 (16.4%) | 0.00 | 363 |
2018-11-01 | $139,950 (-5.3%) | $211,828 (13.1%) | 0.00 | 355 |
2018-12-01 | $138,250 (0.0%) | $215,388 (19.7%) | 0.00 | 322 |
2019-01-01 | $135,950 (2.5%) | $213,275 (22.2%) | 0.00 | 286 |
2019-02-01 | $139,325 (3.5%) | $225,479 (28.0%) | 0.00 | 281 |
2019-03-01 | $146,329 (4.6%) | $229,521 (28.5%) | 0.00 | 295 |
2019-04-01 | $154,900 (4.0%) | $229,983 (23.9%) | 0.00 | 306 |
2019-05-01 | $159,375 (7.3%) | $231,273 (26.5%) | 0.00 | 316 |
2019-06-01 | $154,900 (7.2%) | $221,514 (21.1%) | 0.00 | 333 |
2019-07-01 | $159,200 (8.5%) | $223,068 (19.8%) | 0.00 | 336 |
2019-08-01 | $157,200 (6.2%) | $216,689 (17.9%) | 0.00 | 320 |
2019-09-01 | $153,150 (2.8%) | $200,269 (7.0%) | 0.00 | 308 |
2019-10-01 | $151,700 (3.6%) | $191,076 (-12.5%) | 0.00 | 295 |
2019-11-01 | $149,000 (6.5%) | $192,288 (-9.2%) | 0.00 | 296 |
2019-12-01 | $137,850 (-0.3%) | $190,803 (-11.4%) | 0.00 | 270 |
2020-01-01 | $134,950 (-0.7%) | $186,562 (-12.5%) | 0.00 | 248 |
2020-02-01 | $142,000 (1.9%) | $194,254 (-13.9%) | 0.00 | 244 |
2020-03-01 | $149,500 (2.2%) | $198,757 (-13.4%) | 0.00 | 230 |
2020-04-01 | $153,375 (-1.0%) | $200,210 (-13.0%) | 0.00 | 233 |
2020-05-01 | $155,000 (-2.8%) | $206,031 (-10.9%) | 0.00 | 186 |
2020-06-01 | $159,450 (2.9%) | $214,994 (-2.9%) | 0.00 | 168 |
2020-07-01 | $164,750 (3.5%) | $223,101 (0.0%) | 0.00 | 146 |
2020-08-01 | $165,000 (5.0%) | $225,797 (4.2%) | 0.00 | 134 |
2020-09-01 | $163,000 (6.4%) | $220,887 (10.3%) | 0.00 | 149 |
2020-10-01 | $151,675 (0.0%) | $221,347 (15.8%) | 0.00 | 133 |
2020-11-01 | $163,500 (9.7%) | $231,331 (20.3%) | 0.00 | 130 |
2020-12-01 | $165,000 (19.7%) | $240,103 (25.8%) | 0.00 | 119 |
2021-01-01 | $159,200 (18.0%) | $240,761 (29.1%) | 0.00 | 94 |
2021-02-01 | $166,100 (17.0%) | $232,709 (19.8%) | 0.00 | 79 |
2021-03-01 | $166,950 (11.7%) | $242,301 (21.9%) | 0.00 | 72 |
2021-04-01 | $189,900 (23.8%) | $264,224 (32.0%) | 0.00 | 63 |
2021-05-01 | $172,500 (11.3%) | $250,551 (21.6%) | 0.00 | 68 |
2021-06-01 | $172,950 (8.5%) | $244,519 (13.7%) | 0.00 | 87 |
2021-07-01 | $189,900 (15.3%) | $255,288 (14.4%) | 0.00 | 106 |
2021-08-01 | $177,950 (7.9%) | $245,719 (8.8%) | 0.00 | 106 |
2021-09-01 | $174,404 (7.0%) | $241,338 (9.3%) | 0.00 | 109 |
2021-10-01 | $178,288 (17.6%) | $246,377 (11.3%) | 0.00 | 113 |
2021-11-01 | $176,125 (7.7%) | $249,547 (7.9%) | 0.00 | 100 |
2021-12-01 | $183,250 (11.1%) | $251,952 (4.9%) | 0.00 | 93 |
2022-01-01 | $185,000 (16.2%) | $278,925 (15.9%) | 0.00 | 73 |
2022-02-01 | $159,000 (-4.3%) | $274,942 (18.2%) | 0.00 | 73 |
2022-03-01 | $162,725 (-2.5%) | $286,126 (18.1%) | 0.00 | 72 |
2022-04-01 | $230,000 (21.1%) | $304,493 (15.2%) | 0.00 | 72 |
2022-05-01 | $206,639 (19.8%) | $296,731 (18.4%) | 0.00 | 87 |
2022-06-01 | $213,721 (23.6%) | $301,758 (23.4%) | 0.00 | 90 |
2022-07-01 | $219,900 (15.8%) | $281,979 (10.5%) | 0.00 | 118 |
2022-08-01 | $224,999 (26.4%) | $285,237 (16.1%) | 0.00 | 122 |
2022-09-01 | $209,950 (20.4%) | $279,215 (15.7%) | 0.00 | 120 |
2022-10-01 | $215,000 (20.6%) | $282,030 (14.5%) | 0.00 | 114 |
2022-11-01 | $210,950 (19.8%) | $269,780 (8.1%) | 0.00 | 129 |
2022-12-01 | $228,900 (24.9%) | $297,028 (17.9%) | 0.00 | 128 |
2023-01-01 | $244,450 (32.1%) | $297,529 (6.7%) | 0.00 | 96 |
2023-02-01 | $245,500 (54.4%) | $328,358 (19.4%) | 0.00 | 92 |
2023-03-01 | $249,950 (53.6%) | $332,067 (16.1%) | 0.00 | 97 |
2023-04-01 | $265,000 (15.2%) | $362,042 (18.9%) | 0.00 | 100 |
2023-05-01 | $275,000 (33.1%) | $369,493 (24.5%) | 0.00 | 110 |
2023-06-01 | $249,450 (16.7%) | $351,580 (16.5%) | 0.00 | 113 |
2023-07-01 | $250,000 (13.7%) | $339,976 (20.6%) | 0.00 | 121 |
2023-08-01 | $236,150 (5.0%) | $335,722 (17.7%) | 0.00 | 133 |
2023-09-01 | $241,250 (14.9%) | $331,374 (18.7%) | 0.00 | 148 |
2023-10-01 | $224,836 (4.6%) | $318,701 (13.0%) | 0.00 | 145 |
2023-11-01 | $225,000 (6.7%) | $314,342 (16.5%) | 0.00 | 153 |
2023-12-01 | $229,900 (0.4%) | $313,979 (5.7%) | 0.00 | 156 |
2024-01-01 | $229,950 (-5.9%) | $312,996 (5.2%) | 0.00 | 145 |
2024-02-01 | $232,766 (-5.2%) | $325,579 (-0.9%) | 0.00 | 140 |
2024-03-01 | $232,250 (-7.1%) | $325,092 (-2.1%) | 0.00 | 151 |
2024-04-01 | $232,900 (-12.1%) | $326,998 (-9.7%) | 0.00 | 163 |
2024-05-01 | $240,225 (-12.7%) | $327,497 (-11.4%) | 0.00 | 169 |
2024-06-01 | $248,000 (-0.6%) | $337,011 (-4.1%) | 0.00 | 168 |
2024-07-01 | $249,500 (-0.2%) | $334,401 (-1.6%) | 0.00 | 186 |
2024-08-01 | $249,000 (5.4%) | $325,626 (-3.0%) | 0.00 | 192 |
2024-09-01 | $222,400 (-7.8%) | $309,092 (-6.7%) | 0.00 | 200 |
2024-10-01 | $227,400 (1.1%) | $294,056 (-7.7%) | 0.00 | 208 |
Searcy's median listing price comes in at 0% of the national average.
Searcy's average listing price for 2024-10-01 was $294,056, a difference of $-24,645 (-7.7%) versus the prior year and $-15,036 versus the prior month.
For the 2024-10-01 period, Searcy had 208 MLS listings, a difference of 8 listings (4%) versus the prior month and 63 listings (43%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Searcy (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,625 sqft |
2018-02-01 | 0 days | 1,637 sqft |
2018-03-01 | 0 days | 1,730 sqft |
2018-04-01 | 0 days | 1,788 sqft |
2018-05-01 | 0 days | 1,786 sqft |
2018-06-01 | 0 days | 1,764 sqft |
2018-07-01 | 0 days | 1,765 sqft |
2018-08-01 | 0 days | 1,734 sqft |
2018-09-01 | 0 days | 1,748 sqft |
2018-10-01 | 0 days | 1,706 sqft |
2018-11-01 | 0 days | 1,690 sqft |
2018-12-01 | 0 days | 1,654 sqft |
2019-01-01 | 0 days | 1,664 sqft |
2019-02-01 | 0 days | 1,728 sqft |
2019-03-01 | 0 days | 1,795 sqft |
2019-04-01 | 0 days | 1,840 sqft |
2019-05-01 | 0 days | 1,874 sqft |
2019-06-01 | 0 days | 1,816 sqft |
2019-07-01 | 0 days | 1,832 sqft |
2019-08-01 | 0 days | 1,835 sqft |
2019-09-01 | 0 days | 1,830 sqft |
2019-10-01 | 0 days | 1,829 sqft |
2019-11-01 | 0 days | 1,804 sqft |
2019-12-01 | 0 days | 1,804 sqft |
2020-01-01 | 0 days | 1,801 sqft |
2020-02-01 | 0 days | 1,801 sqft |
2020-03-01 | 0 days | 1,781 sqft |
2020-04-01 | 0 days | 1,804 sqft |
2020-05-01 | 0 days | 1,815 sqft |
2020-06-01 | 0 days | 1,821 sqft |
2020-07-01 | 0 days | 1,906 sqft |
2020-08-01 | 0 days | 1,934 sqft |
2020-09-01 | 0 days | 1,877 sqft |
2020-10-01 | 0 days | 1,848 sqft |
2020-11-01 | 0 days | 1,941 sqft |
2020-12-01 | 0 days | 1,944 sqft |
2021-01-01 | 0 days | 1,814 sqft |
2021-02-01 | 0 days | 1,826 sqft |
2021-03-01 | 0 days | 1,839 sqft |
2021-04-01 | 0 days | 1,827 sqft |
2021-05-01 | 0 days | 1,710 sqft |
2021-06-01 | 0 days | 1,840 sqft |
2021-07-01 | 0 days | 1,914 sqft |
2021-08-01 | 0 days | 1,862 sqft |
2021-09-01 | 0 days | 1,867 sqft |
2021-10-01 | 0 days | 1,866 sqft |
2021-11-01 | 0 days | 1,851 sqft |
2021-12-01 | 0 days | 1,851 sqft |
2022-01-01 | 0 days | 1,900 sqft |
2022-02-01 | 0 days | 1,761 sqft |
2022-03-01 | 0 days | 1,754 sqft |
2022-04-01 | 0 days | 1,892 sqft |
2022-05-01 | 0 days | 1,778 sqft |
2022-06-01 | 0 days | 1,818 sqft |
2022-07-01 | 0 days | 1,752 sqft |
2022-08-01 | 0 days | 1,773 sqft |
2022-09-01 | 0 days | 1,772 sqft |
2022-10-01 | 0 days | 1,779 sqft |
2022-11-01 | 0 days | 1,787 sqft |
2022-12-01 | 0 days | 1,800 sqft |
2023-01-01 | 0 days | 1,898 sqft |
2023-02-01 | 0 days | 1,999 sqft |
2023-03-01 | 0 days | 2,028 sqft |
2023-04-01 | 0 days | 1,925 sqft |
2023-05-01 | 0 days | 1,910 sqft |
2023-06-01 | 0 days | 1,885 sqft |
2023-07-01 | 0 days | 1,903 sqft |
2023-08-01 | 0 days | 1,873 sqft |
2023-09-01 | 0 days | 1,905 sqft |
2023-10-01 | 0 days | 1,850 sqft |
2023-11-01 | 0 days | 1,820 sqft |
2023-12-01 | 0 days | 1,818 sqft |
2024-01-01 | 0 days | 1,776 sqft |
2024-02-01 | 0 days | 1,829 sqft |
2024-03-01 | 0 days | 1,800 sqft |
2024-04-01 | 0 days | 1,736 sqft |
2024-05-01 | 0 days | 1,789 sqft |
2024-06-01 | 0 days | 1,861 sqft |
2024-07-01 | 0 days | 1,815 sqft |
2024-08-01 | 0 days | 1,800 sqft |
2024-09-01 | 0 days | 1,754 sqft |
2024-10-01 | 0 days | 1,731 sqft |
Searcy's median square footage for active listings during the 2024-10-01 period was 1,731 sqft. One year prior, the average listing was 1,850 sqft.