Sebastian FHA Loan Rates, Closing Costs & Stats
Sebastian-Vero Beach, FL
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.
Sebastian's 105 lenders originated 571 FHA loans during 2022. The total origination value was $144,975,000, with an average FHA loan value of $253,897.
Sebastian FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Sebastian
averaged
-0.34%
for the week of 2023-06-02, compared to the national average (all FHA variants) of
0% for the same period.
Sebastian's average FHA mortgage closing costs are $7,918.
The average rate for the prior week (2023-05-26) was
6.09% and
one month ago for the week of 2023-04-28, the
average rate was 5.73%.
The average rate one year ago was 4.79%.
For refis of the same type during the week of 2023-06-02, the average rate
was -1.62%.
Sebastian 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 Sebastian level.
The top Sebastian FHA lender as defined by loan originations is CALIBER HOME LOANS, INC., with
68 FHA loans originated. Their average total fees are
$10,445, which is $597
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Sebastian FHA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($9,217), CARDINAL FINANCIAL ($9,781), CALIBER HOME LOANS, INC. ($10,445), PENNYMAC LOAN SERVICES, LLC ($10,660) and UNITED WHOLESALE MORTGAGE, LLC ($11,042).
The lowest rate Sebastian FHA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (4.11%), DHI MORTGAGE COMPANY, LTD. (4.22%), QUICKEN LOANS, LLC (4.41%), LOANDEPOT.COM, LLC (4.51%) and FREEDOM MORTGAGE CORPORATION (4.53%).
Sebastian FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
SEBASTIAN-VERO BEACH, FL | INDIAN RIVER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
SEBASTIAN-VERO BEACH, FL | INDIAN RIVER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Sebastian (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 | $353,500 (1.0%) | $705,701 (-0.3%) | 1.31 | 1,472 |
2018-02-01 | $349,500 (0.4%) | $701,692 (-0.3%) | 1.27 | 1,565 |
2018-03-01 | $350,000 (1.3%) | $703,852 (0.6%) | 1.23 | 1,663 |
2018-04-01 | $355,000 (0.0%) | $708,499 (0.3%) | 1.20 | 1,671 |
2018-05-01 | $340,000 (-2.5%) | $695,261 (1.5%) | 1.14 | 1,613 |
2018-06-01 | $334,900 (-4.3%) | $677,644 (-6.1%) | 1.12 | 1,566 |
2018-07-01 | $336,464 (-2.5%) | $699,982 (0.3%) | 1.12 | 1,477 |
2018-08-01 | $337,450 (-2.8%) | $710,533 (3.6%) | 1.13 | 1,457 |
2018-09-01 | $340,000 (-2.6%) | $706,407 (-0.9%) | 1.14 | 1,484 |
2018-10-01 | $338,934 (-2.8%) | $694,356 (-3.6%) | 1.15 | 1,579 |
2018-11-01 | $339,675 (-3.0%) | $685,758 (-7.0%) | 1.15 | 1,695 |
2018-12-01 | $339,000 (-3.1%) | $677,364 (-5.2%) | 1.17 | 1,760 |
2019-01-01 | $344,513 (-2.5%) | $679,044 (-3.8%) | 1.19 | 1,777 |
2019-02-01 | $348,900 (-0.2%) | $665,615 (-5.1%) | 1.18 | 1,918 |
2019-03-01 | $342,957 (-2.0%) | $661,243 (-6.1%) | 1.12 | 1,921 |
2019-04-01 | $338,057 (-4.8%) | $667,144 (-5.8%) | 1.07 | 1,879 |
2019-05-01 | $336,223 (-1.1%) | $678,622 (-2.4%) | 1.05 | 1,794 |
2019-06-01 | $337,500 (0.8%) | $688,976 (1.7%) | 1.05 | 1,625 |
2019-07-01 | $340,000 (1.1%) | $693,171 (-1.0%) | 1.06 | 1,554 |
2019-08-01 | $344,545 (2.1%) | $694,030 (-2.3%) | 1.09 | 1,507 |
2019-09-01 | $347,614 (2.2%) | $695,681 (-1.5%) | 1.11 | 1,465 |
2019-10-01 | $354,500 (4.6%) | $701,540 (1.0%) | 1.14 | 1,436 |
2019-11-01 | $340,000 (0.1%) | $658,081 (-4.0%) | 1.11 | 1,572 |
2019-12-01 | $341,816 (0.8%) | $651,427 (-3.8%) | 1.14 | 1,599 |
2020-01-01 | $341,038 (-1.0%) | $654,625 (-3.6%) | 1.14 | 1,631 |
2020-02-01 | $340,000 (-2.6%) | $652,731 (-1.9%) | 1.11 | 1,662 |
2020-03-01 | $338,000 (-1.5%) | $649,568 (-1.8%) | 1.06 | 1,674 |
2020-04-01 | $330,000 (-2.4%) | $635,868 (-4.7%) | 1.03 | 1,697 |
2020-05-01 | $329,900 (-1.9%) | $640,578 (-5.6%) | 1.00 | 1,613 |
2020-06-01 | $331,833 (-1.7%) | $654,815 (-5.0%) | 0.98 | 1,504 |
2020-07-01 | $339,000 (-0.3%) | $645,829 (-6.8%) | 0.98 | 1,401 |
2020-08-01 | $347,950 (1.0%) | $676,831 (-2.5%) | 1.00 | 1,233 |
2020-09-01 | $343,600 (-1.2%) | $689,217 (-0.9%) | 0.98 | 1,094 |
2020-10-01 | $347,000 (-2.1%) | $696,722 (-0.7%) | 0.99 | 1,015 |
2020-11-01 | $348,750 (2.6%) | $704,238 (7.0%) | 1.02 | 997 |
2020-12-01 | $348,500 (2.0%) | $717,464 (10.1%) | 1.04 | 927 |
2021-01-01 | $349,900 (2.6%) | $703,956 (7.5%) | 1.04 | 827 |
2021-02-01 | $344,000 (1.2%) | $724,965 (11.1%) | 1.00 | 656 |
2021-03-01 | $349,450 (3.4%) | $741,170 (14.1%) | 0.99 | 550 |
2021-04-01 | $366,250 (11.0%) | $776,277 (22.1%) | 0.99 | 498 |
2021-05-01 | $396,700 (20.3%) | $860,422 (34.3%) | 1.06 | 401 |
2021-06-01 | $389,950 (17.5%) | $921,349 (40.7%) | 1.03 | 383 |
2021-07-01 | $362,123 (6.8%) | $886,158 (37.2%) | 0.96 | 395 |
2021-08-01 | $369,000 (6.1%) | $885,784 (30.9%) | 0.98 | 406 |
2021-09-01 | $371,088 (8.0%) | $823,952 (19.6%) | 0.99 | 439 |
2021-10-01 | $398,500 (14.8%) | $825,232 (18.4%) | 1.06 | 407 |
2021-11-01 | $404,000 (15.8%) | $903,815 (28.3%) | 1.08 | 395 |
2021-12-01 | $431,000 (23.7%) | $988,075 (37.7%) | 1.17 | 360 |
2022-01-01 | $429,000 (22.6%) | $964,474 (37.0%) | 1.16 | 330 |
2022-02-01 | $402,000 (16.9%) | $1,006,260 (38.8%) | 1.05 | 337 |
2022-03-01 | $399,200 (14.2%) | $966,311 (30.4%) | 1.00 | 343 |
2022-04-01 | $420,575 (14.8%) | $890,652 (14.7%) | 1.00 | 387 |
2022-05-01 | $427,235 (7.7%) | $909,406 (5.7%) | 0.98 | 465 |
2022-06-01 | $427,000 (9.5%) | $835,009 (-9.4%) | 0.95 | 572 |
2022-07-01 | $425,000 (17.4%) | $864,450 (-2.5%) | 0.96 | 723 |
2022-08-01 | $414,988 (12.5%) | $838,383 (-5.4%) | 0.96 | 795 |
2022-09-01 | $417,450 (12.5%) | $838,614 (1.8%) | 0.98 | 818 |
2022-10-01 | $430,000 (7.9%) | $859,800 (4.2%) | 1.01 | 821 |
2022-11-01 | $431,700 (6.9%) | $853,291 (-5.6%) | 1.04 | 919 |
2022-12-01 | $429,900 (-0.3%) | $883,231 (-10.6%) | 1.06 | 954 |
2023-01-01 | $437,225 (1.9%) | $881,207 (-8.6%) | 1.08 | 997 |
2023-02-01 | $434,625 (8.1%) | $994,959 (-1.1%) | 1.05 | 1,048 |
2023-03-01 | $435,750 (9.2%) | $1,042,899 (7.9%) | 1.03 | 1,029 |
2023-04-01 | $446,000 (6.1%) | $1,064,617 (19.5%) | 1.04 | 1,008 |
2023-05-01 | $444,750 (4.1%) | $966,890 (6.3%) | 1.01 | 916 |
Sebastian's median listing price comes in at 101% of the national average.
Sebastian's average listing price for 2023-05-01 was $966,890, a difference of $57,484 (6.3%) versus the prior year and $-97,727 versus the prior month.
For the 2023-05-01 period, Sebastian had 916 MLS listings, a difference of -92 listings (-9%) versus the prior month and 451 listings (97%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Sebastian (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 81 days | 2,064 sqft |
2018-02-01 | 70 days | 2,060 sqft |
2018-03-01 | 64 days | 2,050 sqft |
2018-04-01 | 73 days | 2,093 sqft |
2018-05-01 | 79 days | 2,036 sqft |
2018-06-01 | 85 days | 2,034 sqft |
2018-07-01 | 88 days | 2,042 sqft |
2018-08-01 | 89 days | 2,028 sqft |
2018-09-01 | 84 days | 2,039 sqft |
2018-10-01 | 79 days | 2,021 sqft |
2018-11-01 | 78 days | 2,005 sqft |
2018-12-01 | 79 days | 1,991 sqft |
2019-01-01 | 86 days | 1,995 sqft |
2019-02-01 | 78 days | 1,999 sqft |
2019-03-01 | 77 days | 1,979 sqft |
2019-04-01 | 79 days | 1,961 sqft |
2019-05-01 | 81 days | 1,949 sqft |
2019-06-01 | 89 days | 1,958 sqft |
2019-07-01 | 92 days | 1,967 sqft |
2019-08-01 | 89 days | 1,972 sqft |
2019-09-01 | 88 days | 1,975 sqft |
2019-10-01 | 89 days | 1,978 sqft |
2019-11-01 | 82 days | 1,914 sqft |
2019-12-01 | 76 days | 1,900 sqft |
2020-01-01 | 80 days | 1,901 sqft |
2020-02-01 | 82 days | 1,900 sqft |
2020-03-01 | 74 days | 1,906 sqft |
2020-04-01 | 83 days | 1,909 sqft |
2020-05-01 | 95 days | 1,900 sqft |
2020-06-01 | 101 days | 1,900 sqft |
2020-07-01 | 98 days | 1,900 sqft |
2020-08-01 | 89 days | 1,900 sqft |
2020-09-01 | 93 days | 1,900 sqft |
2020-10-01 | 83 days | 1,900 sqft |
2020-11-01 | 67 days | 1,900 sqft |
2020-12-01 | 67 days | 1,900 sqft |
2021-01-01 | 69 days | 1,900 sqft |
2021-02-01 | 50 days | 1,851 sqft |
2021-03-01 | 45 days | 1,848 sqft |
2021-04-01 | 42 days | 1,861 sqft |
2021-05-01 | 46 days | 1,865 sqft |
2021-06-01 | 45 days | 1,833 sqft |
2021-07-01 | 46 days | 1,770 sqft |
2021-08-01 | 47 days | 1,766 sqft |
2021-09-01 | 47 days | 1,726 sqft |
2021-10-01 | 45 days | 1,814 sqft |
2021-11-01 | 47 days | 1,818 sqft |
2021-12-01 | 52 days | 1,835 sqft |
2022-01-01 | 49 days | 1,863 sqft |
2022-02-01 | 35 days | 1,753 sqft |
2022-03-01 | 34 days | 1,693 sqft |
2022-04-01 | 33 days | 1,700 sqft |
2022-05-01 | 35 days | 1,701 sqft |
2022-06-01 | 36 days | 1,709 sqft |
2022-07-01 | 37 days | 1,700 sqft |
2022-08-01 | 48 days | 1,717 sqft |
2022-09-01 | 58 days | 1,708 sqft |
2022-10-01 | 65 days | 1,789 sqft |
2022-11-01 | 64 days | 1,793 sqft |
2022-12-01 | 64 days | 1,780 sqft |
2023-01-01 | 71 days | 1,789 sqft |
2023-02-01 | 61 days | 1,804 sqft |
2023-03-01 | 57 days | 1,820 sqft |
2023-04-01 | 63 days | 1,828 sqft |
2023-05-01 | 65 days | 1,780 sqft |
Sebastian's median square footage for active listings during the 2023-05-01 period was 1,780 sqft. One year prior, the average listing was 1,701 sqft.