Spartanburg FHA Loan Rates, Closing Costs & Stats

SPARTANBURG, SC

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    • 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.

    Spartanburg's 152 lenders originated 1,713 FHA loans during 2023. The total origination value was $413,595,000, with an average FHA loan value of $241,445.

    Spartanburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Spartanburg averaged 5.9% for the week of 2025-03-14, compared to the national average (all FHA variants) of 6.345% for the same period.

    Spartanburg's average FHA mortgage closing costs are $7,704.

    The average rate for the prior week (2025-03-07) was 6.17% and one month ago for the week of 2025-02-07, the average rate was 6.49%.

    The average rate one year ago was 6.56%.

    For refis of the same type during the week of 2025-03-14, the average rate was 6.4%.

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

    Spartanburg 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 Spartanburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 169 5.30% $7,964
    QUICKEN LOANS, LLC 138 6.30% $10,415
    NVR Mortgage Finance, Inc. 110 6.00% $12,934
    PRIMELENDING, A PLAINSCAPITAL COMPANY 89 6.35% $11,364
    UNITED WHOLESALE MORTGAGE, LLC 71 6.19% $12,347
    MOVEMENT MORTGAGE, LLC 66 6.85% $10,384
    LOANDEPOT.COM, LLC 64 5.76% $10,718
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 47 6.56% $9,911
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 47 6.49% $9,904
    Sierra Pacific Mortgage Company, Inc. 44 6.24% $11,060
    CARDINAL FINANCIAL 34 6.46% $13,262
    GUILD MORTGAGE COMPANY 30 6.58% $9,908
    CROSSCOUNTRY MORTGAGE, LLC 30 6.69% $11,055
    American Mortgage & Equity Consultants, Inc. 29 6.38% $12,243
    FREEDOM MORTGAGE CORPORATION 28 6.82% $12,591
    Renasant Bank 27 6.15% $12,528
    BROKER SOLUTIONS, INC. 24 6.32% $9,823
    PENNYMAC LOAN SERVICES, LLC 19 6.03% $12,733
    ACOPIA, LLC 17 6.39% $12,885
    INSPIRE HOME LOANS INC. 16 5.84% $8,147
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 15 6.53% $10,101
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 15 6.77% $11,355
    Mr. Cooper ( Nationstar Mortgage ) 15 6.20% $13,977
    NEWREZ LLC 15 6.49% $10,407
    VANDERBILT MORTGAGE AND FINANCE, INC. 14 6.12% $13,280
    Ameris Bank 13 6.66% $10,154
    Paramount Residential Mortgage Group, Inc. 13 6.52% $11,131
    AMERICAN PACIFIC MORTGAGE CORPORATION 13 6.61% $14,661
    First Heritage Mortgage, LLC 13 6.54% $12,237
    EAGLE HOME MORTGAGE, LLC 12 6.43% $13,531
    Flagstar Bank, FSB 11 6.40% $7,687
    AMERISAVE MORTGAGE CORPORATION 11 6.28% $12,850
    ON Q FINANCIAL, INC. 9 6.54% $8,709
    GENEVA FINANCIAL, LLC 9 7.08% $11,563
    HOMESIDE FINANCIAL, LLC 9 7.25% $11,536
    GUARANTEED RATE, INC. 9 6.08% $10,661
    GSF Mortgage Corporation 9 6.88% $10,424
    RESOURCE FINANCIAL SERVICES, INC. 8 6.64% $8,825
    Century Mortgage Company DBA Century Lending Company 8 5.95% $13,679
    Carrington Mortgage Services, LLC 8 6.00% $13,021
    MUTUAL OF OMAHA MORTGAGE, INC. 7 6.71% $12,569
    FBC MORTGAGE, LLC 7 5.96% $9,238
    PRIMARY RESIDENTIAL MORTGAGE, INC. 7 6.79% $11,187
    SUN WEST MORTGAGE COMPANY, INC. 7 6.44% $12,227
    Nations Lending Corporation 7 6.52% $10,883
    LOANPAL, LLC 7 5.76% $12,732
    Equity Prime Mortgage LLC 6 6.13% $13,055
    TOWNE MORTGAGE COMPANY 6 6.33% $8,797
    Southern First Bank 6 6.85% $8,039
    HOMEOWNERS FINANCIAL GROUP USA, LLC 6 6.75% $11,983
    AMERICAN FINANCIAL NETWORK, INC. 6 7.15% $11,810
    DELMAR FINANCIAL COMPANY 6 6.52% $11,334
    Atlantic Coast Mortgage, LLC 5 6.20% $13,493
    BAY EQUITY LLC 5 5.95% $14,819
    EVERETT FINANCIAL, INC. 5 6.48% $9,866
    RELIANCE FIRST CAPITAL, LLC 5 6.50% $10,672
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 6.40% $12,594
    MID AMERICA MORTGAGE, INC. 5 7.58% $6,172
    MICHIGAN MUTUAL, INC. 5 5.08% $14,407
    Mortgage Research Center, LLC 4 6.34% $7,818
    South State Bank 4 6.44% $9,834
    NFM, INC. 4 5.94% $11,210
    EMM LOANS LLC 4 6.41% $14,360
    LAKEVIEW LOAN SERVICING, LLC 4 6.44% $12,029
    UNION HOME MORTGAGE CORP. 4 6.59% $10,167
    CMG MORTGAGE, INC. 4 6.38% $10,070
    Alcova Mortgage LLC 4 6.50% $8,701
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.50% $15,811
    Prosperity Home Mortgage, LLC 3 5.46% $15,146
    SOUTHWEST STAGE FUNDING, LLC 3 7.58% $5,969
    Network Funding, L.P. 3 6.67% $6,626
    FIRST ALLIANCE HOME MORTGAGE, LLC 3 6.83% $17,418
    Plains Commerce Bank 3 6.75% $13,197
    CRESCENT MORTGAGE COMPANY 3 6.50% $9,810
    Wells Fargo Bank 3 6.79% $9,004
    MILEND, INC. 3 5.88% $14,172
    Lakeview Community Capital, LLC 3 6.58% $11,310
    ZILLOW HOME LOANS, LLC 2 6.25% $13,225
    ACADEMY MORTGAGE CORPORATION 2 7.06% $8,465
    CHURCHILL MORTGAGE CORPORATION 2 6.94% $10,626
    CONTOUR MORTGAGE CORPORATION 2 5.88% $15,182
    DIRECT MORTGAGE LOANS, LLC 2 6.44% $12,279
    First-Citizens Bank & Trust Company 2 7.00% $9,866
    First Palmetto Bank 2 6.81% $8,488
    First Reliance Bank 2 6.00% $8,771
    GMFS LLC 2 5.87% $12,265
    LIBERTY HOME MORTGAGE CORPORATION 2 7.56% $18,589
    MIDLAND MORTGAGE CORPORATION 2 7.63% $5,177
    Mortgage Assurance Inc. 2 6.12% $9,147
    PLANET HOME LENDING, LLC 2 5.44% $6,796
    Regions Bank 2 7.19% $6,667
    Synovus Bank 2 6.31% $9,057
    TOP FLITE FINANCIAL, INC. 2 6.69% $11,562
    United Community Bank 2 6.31% $10,731
    VILLAGE CAPITAL MORTGAGE 2 6.51% $14,783
    Magnolia Bank 1 6.75% $5,146
    NEW DAY FINANCIAL, LLC 1 7.50% $16,401
    NEW FED MORTGAGE, CORP. 1 7.25% $7,463
    LEGEND LENDING CORPORATION 1 6.63% $12,180
    Keystone Funding, Inc. 1 6.25% $15,176
    Northpointe Bank 1 6.25% $7,367
    NTFN, INC. 1 6.75% $15,306
    KELLER MORTGAGE, LLC 1 4.88% $12,801
    OCMBC, INC. 1 7.63% $16,116
    Ixonia Bank 1 7.38% $10,420
    OPEN MORTGAGE, LLC 1 7.25% $8,768
    INTERLINC MORTGAGE SERVICES, LLC 1 6.13% $5,810
    INTERCAP LENDING INC. 1 7.50% $8,131
    PHH Mortgage Corporation 1 6.63% $8,259
    Pinnacle Bank 1 6.63% $13,390
    HOMESTEAD FUNDING CORP. 1 6.63% $8,024
    AMERICAN FINANCING CORPORATION 1 6.75% $15,257
    PLAZA HOME MORTGAGE, INC. 1 6.75% $5,711
    PNC Bank 1 7.38% $5,926
    POINT Mortgage 1 5.63% $15,873
    Presidential Bank, FSB 1 5.75% $16,696
    HOMESTAR FINANCIAL CORPORATION 1 7.50% $8,403
    GoPrime Mortgage, Inc. 1 6.88% $10,429
    Princeton Mortgage Corporation 1 6.75% $13,617
    FIRST HERITAGE FINANCIAL, LLC 1 5.63% $10,078
    FIRST COMMUNITY MORTGAGE, INC. 1 6.75% $10,884
    RAPID MORTGAGE COMPANY 1 7.00% $9,203
    ALAMEDA MORTGAGE CORPORATION 1 6.75% $12,742
    First Community Bank 1 7.00% $10,572
    Countybank 1 7.63% $6,924
    CORNERSTONE HOME LENDING, INC. 1 6.00% $18,509
    RUOFF MORTGAGE COMPANY, INC. 1 6.25% $9,866
    SeaTrust Mortgage Company 1 6.38% $9,462
    BAY-VALLEY MORTGAGE GROUP 1 7.63% $11,068
    Barrington Bank & Trust Company, N.A. 1 5.13% $13,487
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.13% $3,255
    BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 6.25% $11,134
    Bank of England 1 7.25% $10,202
    Stride Bank 1 6.75% $10,798
    Atlantic Union Bank 1 6.25% $15,188
    SWBC MORTGAGE CORPORATION 1 6.25% $7,362
    1ST 2ND MORTGAGE COMPANY OF N.J., INC. 1 6.13% $7,924
    The Federal Savings Bank 1 7.00% $15,587
    THRIVE MORTGAGE, LLC 1 7.13% $9,614
    Waterstone Mortgage Corporation 1 6.63% $26,652
    TOTAL MORTGAGE SERVICES, LLC 1 7.25% $10,392
    AmeriHome Mortgage Company, LLC 1 5.63% $9,683
    TruHome Solutions, LLC 1 7.25% $3,775
    Truist 1 6.70% $10,672
    American Security Mortgage Corp. 1 5.63% $11,821
    1ST SIGNATURE LENDING, LLC 1 7.25% $13,061
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $14,278
    M&T Bank 1 5.75% $12,336
    MORTGAGE INVESTORS GROUP, INC. 1 6.88% $11,812
    NATION ONE MORTGAGE CORPORATION 1 7.88% $10,465
    NATIONS DIRECT MORTGAGE, LLC 1 5.75% $11,651
    MLB RESIDENTIAL LENDING, LLC 1 6.50% $12,476

    The top Spartanburg FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 169 FHA loans originated. Their average total fees are $7,964, which is $2,452 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Spartanburg FHA lenders (with over 10 loans originated) are Flagstar Bank, FSB ($7,687), DHI MORTGAGE COMPANY, LTD. ($7,964), INSPIRE HOME LOANS INC. ($8,147), BROKER SOLUTIONS, INC. ($9,823) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,904).

    The lowest rate Spartanburg FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.30%), LOANDEPOT.COM, LLC (5.76%), INSPIRE HOME LOANS INC. (5.84%), NVR Mortgage Finance, Inc. (6.00%) and PENNYMAC LOAN SERVICES, LLC (6.03%).

    Spartanburg FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Spartanburg (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 $208,800 (12.9%) $247,077 (7.5%) 0.77 1,216
    2018-02-01 $209,411 (10.3%) $247,955 (5.4%) 0.76 1,182
    2018-03-01 $215,990 (13.8%) $257,984 (10.0%) 0.76 1,153
    2018-04-01 $221,795 (15.6%) $267,118 (14.0%) 0.75 1,126
    2018-05-01 $222,245 (14.6%) $269,101 (14.2%) 0.74 1,207
    2018-06-01 $221,804 (11.5%) $269,506 (11.5%) 0.74 1,293
    2018-07-01 $219,634 (8.7%) $268,670 (8.9%) 0.73 1,330
    2018-08-01 $217,815 (7.4%) $267,300 (9.0%) 0.73 1,377
    2018-09-01 $214,775 (4.8%) $264,498 (6.3%) 0.72 1,374
    2018-10-01 $209,450 (0.3%) $259,654 (2.1%) 0.71 1,419
    2018-11-01 $211,680 (2.5%) $258,919 (3.5%) 0.72 1,361
    2018-12-01 $211,772 (2.4%) $253,582 (2.0%) 0.73 1,317
    2019-01-01 $214,098 (2.5%) $259,849 (5.2%) 0.74 1,288
    2019-02-01 $213,950 (2.2%) $259,293 (4.6%) 0.72 1,337
    2019-03-01 $217,698 (0.8%) $304,117 (17.9%) 0.71 1,317
    2019-04-01 $220,639 (-0.5%) $313,475 (17.4%) 0.70 1,275
    2019-05-01 $223,400 (0.5%) $285,981 (6.3%) 0.70 1,270
    2019-06-01 $225,000 (1.4%) $290,298 (7.7%) 0.70 1,287
    2019-07-01 $225,000 (2.4%) $289,703 (7.8%) 0.70 1,279
    2019-08-01 $224,999 (3.3%) $287,341 (7.5%) 0.71 1,341
    2019-09-01 $224,997 (4.8%) $284,441 (7.5%) 0.72 1,387
    2019-10-01 $224,948 (7.4%) $282,107 (8.7%) 0.73 1,418
    2019-11-01 $224,900 (6.3%) $281,596 (8.8%) 0.74 1,385
    2019-12-01 $223,450 (5.5%) $276,081 (8.9%) 0.75 1,390
    2020-01-01 $220,472 (3.0%) $262,988 (1.2%) 0.74 1,314
    2020-02-01 $224,900 (5.1%) $270,751 (4.4%) 0.74 1,257
    2020-03-01 $231,495 (6.3%) $279,094 (-8.2%) 0.73 1,152
    2020-04-01 $229,325 (3.9%) $280,256 (-10.6%) 0.72 1,179
    2020-05-01 $234,900 (5.2%) $284,273 (-0.6%) 0.71 1,057
    2020-06-01 $240,450 (6.9%) $298,349 (2.8%) 0.71 939
    2020-07-01 $237,748 (5.7%) $296,266 (2.3%) 0.69 845
    2020-08-01 $239,000 (6.2%) $302,883 (5.4%) 0.68 795
    2020-09-01 $237,250 (5.5%) $314,345 (10.5%) 0.68 767
    2020-10-01 $239,900 (6.7%) $314,197 (11.4%) 0.69 757
    2020-11-01 $240,300 (6.9%) $318,753 (13.2%) 0.70 775
    2020-12-01 $234,750 (5.1%) $306,631 (11.1%) 0.70 737
    2021-01-01 $234,999 (6.6%) $304,255 (15.7%) 0.70 714
    2021-02-01 $234,179 (4.1%) $307,656 (13.6%) 0.68 676
    2021-03-01 $240,500 (3.9%) $316,043 (13.2%) 0.68 531
    2021-04-01 $239,893 (4.6%) $307,524 (9.7%) 0.65 482
    2021-05-01 $250,000 (6.4%) $313,276 (10.2%) 0.66 403
    2021-06-01 $254,950 (6.0%) $313,390 (5.0%) 0.67 411
    2021-07-01 $269,620 (13.4%) $340,402 (14.9%) 0.71 506
    2021-08-01 $263,007 (10.0%) $331,641 (9.5%) 0.70 607
    2021-09-01 $271,948 (14.6%) $348,378 (10.8%) 0.73 620
    2021-10-01 $275,000 (14.6%) $350,160 (11.5%) 0.73 610
    2021-11-01 $276,309 (15.0%) $357,403 (12.1%) 0.74 536
    2021-12-01 $270,370 (15.2%) $341,106 (11.2%) 0.73 484
    2022-01-01 $277,447 (18.1%) $334,706 (10.0%) 0.75 404
    2022-02-01 $280,212 (19.7%) $337,374 (9.7%) 0.73 362
    2022-03-01 $284,217 (18.2%) $334,939 (6.0%) 0.71 314
    2022-04-01 $290,000 (20.9%) $350,601 (14.0%) 0.69 347
    2022-05-01 $298,433 (19.4%) $341,456 (9.0%) 0.68 515
    2022-06-01 $301,999 (18.5%) $340,648 (8.7%) 0.67 641
    2022-07-01 $304,900 (13.1%) $342,567 (0.6%) 0.69 884
    2022-08-01 $303,420 (15.4%) $344,395 (3.9%) 0.70 1,059
    2022-09-01 $305,265 (12.3%) $346,617 (-0.5%) 0.71 1,135
    2022-10-01 $302,900 (10.2%) $349,667 (-0.1%) 0.71 1,160
    2022-11-01 $300,120 (8.6%) $346,757 (-3.0%) 0.72 1,169
    2022-12-01 $299,900 (10.9%) $349,601 (2.5%) 0.74 1,064
    2023-01-01 $301,683 (8.7%) $353,499 (5.6%) 0.75 1,000
    2023-02-01 $299,942 (7.0%) $350,600 (3.9%) 0.72 956
    2023-03-01 $303,445 (6.8%) $355,975 (6.3%) 0.72 935
    2023-04-01 $311,999 (7.6%) $371,300 (5.9%) 0.73 965
    2023-05-01 $316,560 (6.1%) $375,127 (9.9%) 0.72 925
    2023-06-01 $312,400 (3.4%) $367,926 (8.0%) 0.70 961
    2023-07-01 $311,389 (2.1%) $372,514 (8.7%) 0.71 1,005
    2023-08-01 $309,495 (2.0%) $370,465 (7.6%) 0.71 1,043
    2023-09-01 $305,900 (0.2%) $372,158 (7.4%) 0.71 1,010
    2023-10-01 $307,854 (1.6%) $370,063 (5.8%) 0.72 1,070
    2023-11-01 $302,225 (0.7%) $364,735 (5.2%) 0.72 1,122
    2023-12-01 $306,000 (2.0%) $363,171 (3.9%) 0.75 1,163
    2024-01-01 $307,999 (2.1%) $363,073 (2.7%) 0.75 1,137
    2024-02-01 $309,198 (3.1%) $368,207 (5.0%) 0.74 1,144
    2024-03-01 $308,000 (1.5%) $362,886 (1.9%) 0.72 1,243
    2024-04-01 $307,493 (-1.4%) $367,464 (-1.0%) 0.72 1,317
    2024-05-01 $304,948 (-3.7%) $367,021 (-2.2%) 0.69 1,432
    2024-06-01 $304,977 (-2.4%) $382,366 (3.9%) 0.69 1,462
    2024-07-01 $302,748 (-2.8%) $374,821 (0.6%) 0.69 1,544
    2024-08-01 $304,000 (-1.8%) $372,989 (0.7%) 0.71 1,563
    2024-09-01 $304,950 (-0.3%) $373,664 (0.4%) 0.72 1,538
    2024-10-01 $300,690 (-2.3%) $371,615 (0.4%) 0.71 1,498
    2024-11-01 $303,990 (0.6%) $370,665 (1.6%) 0.73 1,470
    2024-12-01 $304,145 (-0.6%) $369,762 (1.8%) 0.76 1,388
    2025-01-01 $301,995 (-2.0%) $365,428 (0.7%) 0.75 1,360
    2025-02-01 $305,000 (-1.4%) $363,849 (-1.2%) 0.74 1,407
    Spartanburg's median listing price for 2025-02-01 was $305,000, a difference of $-4,198 (-1.4%) versus the prior year and $3,005 versus the prior month.

    Spartanburg's median listing price comes in at 74% of the national average.

    Spartanburg's average listing price for 2025-02-01 was $363,849, a difference of $-4,358 (-1.2%) versus the prior year and $-1,579 versus the prior month.

    For the 2025-02-01 period, Spartanburg had 1,407 MLS listings, a difference of 47 listings (3%) versus the prior month and 263 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Spartanburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 87 days 2,042 sqft
    2018-02-01 83 days 2,028 sqft
    2018-03-01 50 days 2,114 sqft
    2018-04-01 50 days 2,143 sqft
    2018-05-01 53 days 2,151 sqft
    2018-06-01 53 days 2,150 sqft
    2018-07-01 57 days 2,120 sqft
    2018-08-01 56 days 2,100 sqft
    2018-09-01 64 days 2,065 sqft
    2018-10-01 66 days 2,005 sqft
    2018-11-01 66 days 2,015 sqft
    2018-12-01 72 days 2,000 sqft
    2019-01-01 80 days 2,000 sqft
    2019-02-01 72 days 2,003 sqft
    2019-03-01 64 days 2,012 sqft
    2019-04-01 61 days 2,036 sqft
    2019-05-01 60 days 2,070 sqft
    2019-06-01 58 days 2,095 sqft
    2019-07-01 58 days 2,074 sqft
    2019-08-01 57 days 2,085 sqft
    2019-09-01 58 days 2,081 sqft
    2019-10-01 58 days 2,070 sqft
    2019-11-01 60 days 2,051 sqft
    2019-12-01 66 days 2,023 sqft
    2020-01-01 72 days 1,995 sqft
    2020-02-01 73 days 2,003 sqft
    2020-03-01 59 days 2,059 sqft
    2020-04-01 62 days 2,007 sqft
    2020-05-01 71 days 2,010 sqft
    2020-06-01 67 days 2,063 sqft
    2020-07-01 55 days 2,069 sqft
    2020-08-01 47 days 2,100 sqft
    2020-09-01 46 days 2,075 sqft
    2020-10-01 49 days 2,040 sqft
    2020-11-01 46 days 1,987 sqft
    2020-12-01 49 days 1,910 sqft
    2021-01-01 51 days 1,883 sqft
    2021-02-01 50 days 1,818 sqft
    2021-03-01 42 days 1,806 sqft
    2021-04-01 44 days 1,800 sqft
    2021-05-01 43 days 1,808 sqft
    2021-06-01 39 days 1,881 sqft
    2021-07-01 33 days 1,900 sqft
    2021-08-01 38 days 1,832 sqft
    2021-09-01 42 days 1,831 sqft
    2021-10-01 47 days 1,856 sqft
    2021-11-01 39 days 1,822 sqft
    2021-12-01 43 days 1,776 sqft
    2022-01-01 53 days 1,871 sqft
    2022-02-01 35 days 1,839 sqft
    2022-03-01 34 days 1,800 sqft
    2022-04-01 32 days 1,820 sqft
    2022-05-01 25 days 1,840 sqft
    2022-06-01 30 days 1,854 sqft
    2022-07-01 31 days 1,871 sqft
    2022-08-01 39 days 1,893 sqft
    2022-09-01 44 days 1,926 sqft
    2022-10-01 51 days 1,924 sqft
    2022-11-01 59 days 1,918 sqft
    2022-12-01 66 days 1,924 sqft
    2023-01-01 71 days 1,944 sqft
    2023-02-01 63 days 1,919 sqft
    2023-03-01 45 days 1,948 sqft
    2023-04-01 42 days 1,972 sqft
    2023-05-01 50 days 2,012 sqft
    2023-06-01 51 days 2,001 sqft
    2023-07-01 49 days 2,000 sqft
    2023-08-01 48 days 1,951 sqft
    2023-09-01 47 days 1,957 sqft
    2023-10-01 51 days 1,973 sqft
    2023-11-01 50 days 1,958 sqft
    2023-12-01 55 days 1,970 sqft
    2024-01-01 64 days 1,937 sqft
    2024-02-01 49 days 1,918 sqft
    2024-03-01 48 days 1,985 sqft
    2024-04-01 44 days 1,960 sqft
    2024-05-01 42 days 1,992 sqft
    2024-06-01 49 days 1,991 sqft
    2024-07-01 51 days 1,972 sqft
    2024-08-01 53 days 1,935 sqft
    2024-09-01 56 days 1,940 sqft
    2024-10-01 61 days 1,903 sqft
    2024-11-01 65 days 1,900 sqft
    2024-12-01 65 days 1,885 sqft
    2025-01-01 70 days 1,833 sqft
    2025-02-01 55 days 1,824 sqft
    Spartanburg's median listing age (time on market) for 2025-02-01 was 55 days. This is 12% longer than the same period one year ago.

    Spartanburg's median square footage for active listings during the 2025-02-01 period was 1,824 sqft. One year prior, the average listing was 1,918 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).