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 166 lenders originated 2,163 FHA loans during 2024. The total origination value was $564,775,000, with an average FHA loan value of $261,107.

    Spartanburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Spartanburg averaged 6.03% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Spartanburg's average FHA mortgage closing costs are $8,189.

    The average rate for the prior week (2025-03-28) was 6.13% and one month ago for the week of 2025-02-28, the average rate was 6.22%.

    The average rate one year ago was 6.34%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.37%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 226 5.20% $7,957
    NVR Mortgage Finance, Inc. 157 6.03% $11,971
    QUICKEN LOANS, LLC 112 6.33% $10,661
    LOANDEPOT.COM, LLC 99 5.30% $12,010
    UNITED WHOLESALE MORTGAGE, LLC 96 6.16% $12,847
    VANDERBILT MORTGAGE AND FINANCE, INC. 88 5.62% $11,212
    PRIMELENDING, A PLAINSCAPITAL COMPANY 78 6.23% $12,734
    FBC MORTGAGE, LLC 67 5.48% $8,659
    MOVEMENT MORTGAGE, LLC 56 6.56% $10,231
    FREEDOM MORTGAGE CORPORATION 55 6.34% $10,683
    First Heritage Mortgage, LLC 47 5.93% $11,312
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 47 6.58% $8,410
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 40 6.46% $12,013
    INSPIRE HOME LOANS INC. 36 5.51% $8,370
    The Loan Store, Inc. 36 6.07% $10,704
    EAGLE HOME MORTGAGE, LLC 36 6.29% $12,336
    ACOPIA, LLC 35 5.84% $13,245
    PENNYMAC LOAN SERVICES, LLC 32 6.17% $9,504
    GUILD MORTGAGE COMPANY 29 6.44% $10,596
    Flagstar Bank, FSB 28 6.03% $9,040
    AMERICAN PACIFIC MORTGAGE CORPORATION 27 6.19% $15,199
    BROKER SOLUTIONS, INC. 27 6.86% $10,749
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 26 6.62% $10,954
    CROSSCOUNTRY MORTGAGE, LLC 25 6.62% $10,852
    Sierra Pacific Mortgage Company, Inc. 22 6.01% $10,699
    CARDINAL FINANCIAL 18 6.75% $10,262
    HOMESIDE FINANCIAL, LLC 17 6.85% $11,032
    Renasant Bank 16 6.11% $13,282
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 15 6.38% $10,545
    NEWREZ LLC 13 6.52% $10,370
    GSF Mortgage Corporation 13 6.54% $11,732
    Carrington Mortgage Services, LLC 13 6.47% $12,526
    SOUTHPOINT FINANCIAL SERVICES, INC. 12 6.13% $7,471
    Equity Prime Mortgage LLC 12 7.01% $12,024
    SOUTHWEST FUNDING, LP 11 6.66% $11,891
    American Mortgage & Equity Consultants, Inc. 11 5.86% $12,129
    Ameris Bank 11 6.50% $10,452
    AMERICAN FINANCIAL NETWORK, INC. 10 7.10% $11,364
    HOMEOWNERS FINANCIAL GROUP USA, LLC 10 6.56% $10,866
    Mr. Cooper ( Nationstar Mortgage ) 9 6.75% $13,282
    PRIMARY RESIDENTIAL MORTGAGE, INC. 9 6.31% $12,502
    MUTUAL OF OMAHA MORTGAGE, INC. 9 6.47% $12,529
    Network Funding, L.P. 8 6.75% $12,123
    LOANPAL, LLC 8 5.78% $9,004
    LAKEVIEW LOAN SERVICING, LLC 8 6.53% $9,961
    DELMAR FINANCIAL COMPANY 7 6.30% $11,942
    Paramount Residential Mortgage Group, Inc. 7 6.46% $8,829
    Lakeview Community Capital, LLC 7 6.14% $8,400
    Presidential Bank, FSB 7 6.36% $11,642
    Southern First Bank 6 6.31% $8,749
    Countybank 6 6.52% $12,208
    GUARANTEED RATE, INC. 6 6.52% $9,961
    T2 FINANCIAL LLC 6 6.63% $11,692
    United Bank 5 6.30% $10,379
    UNION HOME MORTGAGE CORP. 5 7.03% $9,153
    JET HOMELOANS, LLC 5 6.40% $12,820
    TOWNE MORTGAGE COMPANY 5 6.35% $16,112
    CMG MORTGAGE, INC. 5 6.05% $12,310
    SUN WEST MORTGAGE COMPANY, INC. 5 6.19% $13,363
    HOWARD HANNA FINANCIAL SERVICES, INC. 5 6.65% $10,072
    AMERISAVE MORTGAGE CORPORATION 5 6.25% $14,157
    NFM, INC. 5 6.50% $11,005
    PLAZA HOME MORTGAGE, INC. 5 7.63% $9,590
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 6.81% $9,628
    RELIANCE FIRST CAPITAL, LLC 4 7.25% $8,125
    RESOURCE FINANCIAL SERVICES, INC. 4 6.75% $8,418
    South State Bank 4 6.72% $6,979
    Truist 4 6.10% $12,499
    Century Mortgage Company DBA Century Lending Company 4 6.28% $11,595
    MID AMERICA MORTGAGE, INC. 4 7.28% $5,718
    ON Q FINANCIAL, INC. 4 6.94% $10,062
    Wells Fargo Bank 3 6.67% $8,515
    FLAT BRANCH MORTGAGE, INC. 3 6.88% $8,960
    VILLAGE CAPITAL MORTGAGE 3 6.12% $9,739
    United Community Bank 3 6.04% $10,600
    Plains Commerce Bank 3 6.41% $13,033
    Mortgage Research Center, LLC 3 7.04% $5,074
    SWBC MORTGAGE CORPORATION 3 7.08% $6,599
    STOCKTON MORTGAGE CORPORATION 3 6.75% $10,037
    PULTE MORTGAGE LLC 3 4.46% $7,654
    GoPrime Mortgage, Inc. 3 6.25% $10,233
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 7.25% $12,229
    The Federal Savings Bank 2 6.94% $15,187
    ENVOY MORTGAGE, LTD 2 6.56% $13,728
    PENTAGON FEDERAL CREDIT UNION 2 6.31% $10,278
    First Community Bank 2 6.44% $8,520
    MORTGAGE EQUITY PARTNERS LLC 2 7.25% $10,489
    Princeton Mortgage Corporation 2 6.56% $10,819
    PREMIA MORTGAGE, LLC 2 6.44% $6,876
    First-Citizens Bank & Trust Company 2 6.06% $7,562
    FIRST ALLIANCE HOME MORTGAGE, LLC 2 5.06% $19,750
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.38% $10,506
    NATION ONE MORTGAGE CORPORATION 2 6.75% $13,290
    PLANET HOME LENDING, LLC 2 6.13% $7,745
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 2 5.75% $8,262
    NBKC BANK 2 6.63% $7,537
    CALCON MUTUAL MORTGAGE LLC 2 5.44% $10,598
    EVERETT FINANCIAL, INC. 2 6.63% $11,303
    American Security Mortgage Corp. 2 6.25% $9,446
    AmeriHome Mortgage Company, LLC 2 6.25% $6,332
    First Palmetto Bank 2 6.37% $8,658
    AMERICAN FINANCING CORPORATION 2 5.31% $11,918
    Wolfe Financial, Inc 2 7.06% $11,020
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.69% $10,214
    Atlantic Coast Mortgage, LLC 2 6.19% $13,245
    ZILLOW HOME LOANS, LLC 1 6.75% $12,127
    Alcova Mortgage LLC 1 5.88% $7,145
    ALLIED MORTGAGE GROUP, INC. 1 6.13% $4,624
    Assurance Financial Group, L.L.C. 1 7.13% $9,262
    BancorpSouth 1 5.50% $7,099
    Bank of America 1 5.88% $5,263
    Bank of England 1 7.13% $11,066
    BANKSOUTH MORTGAGE COMPANY, LLC 1 6.63% $10,569
    Barrington Bank & Trust Company, N.A. 1 6.63% $15,393
    Blue Ridge Bank 1 6.49% $5,843
    CANOPY MORTGAGE, LLC 1 7.13% $12,247
    Capital City Home Loans, LLC 1 6.50% $11,783
    CONTOUR MORTGAGE CORPORATION 1 6.63% $12,067
    Cornerstone First Mortgage, Inc 1 5.63% $21,489
    CORNERSTONE HOME LENDING, INC. 1 6.75% $6,365
    EMM LOANS LLC 1 5.38% $18,051
    FIRST COMMUNITY MORTGAGE, INC. 1 5.75% $16,423
    First Federal Bank 1 5.75% $8,465
    FIRST HOME MORTGAGE CORPORATION 1 7.25% $14,796
    First Horizon Bank 1 6.50% $7,970
    FIRST INTEGRITY MORTGAGE SERVICES, INC. 1 6.63% $4,996
    First Option Mortgage, LLC 1 6.13% $14,359
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.00% $12,276
    Home Mortgage Alliance Corp 1 5.63% $17,575
    INTERLINC MORTGAGE SERVICES, LLC 1 5.75% $5,532
    Ixonia Bank 1 7.75% $9,329
    JPMorgan Chase Bank 1 6.75% $7,800
    Keystone Funding, Inc. 1 7.13% $14,126
    LIBERTY HOME MORTGAGE CORPORATION 1 6.25% $8,633
    Magnolia Bank 1 6.75% $14,647
    MEMBER FIRST MORTGAGE, LLC 1 6.63% $8,381
    MILEND, INC. 1 6.75% $14,262
    M&T Bank 1 7.50% $9,327
    Nations Lending Corporation 1 6.75% $12,792
    NATIONWIDE MORTGAGE BANKERS, INC. 1 5.25% $18,357
    NEW DAY FINANCIAL, LLC 1 7.74% $2,806
    NEW FED MORTGAGE, CORP. 1 6.75% $18,876
    Northpointe Bank 1 6.50% $8,974
    OCEANSIDE MORTGAGE COMPANY 1 6.75% $4,917
    OPEN MORTGAGE, LLC 1 6.63% $9,114
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.50% $11,853
    Prosperity Home Mortgage, LLC 1 7.13% $9,954
    RAPID MORTGAGE COMPANY 1 6.63% $9,804
    Regions Bank 1 6.13% $8,071
    SENTE MORTGAGE, INC. 1 6.75% $11,840
    SOUTHWEST STAGE FUNDING, LLC 1 6.38% $5,255
    SUMMIT FUNDING, INC. 1 5.99% $19,934
    Summit Mortgage Corporation 1 7.00% $11,417
    TD Bank 1 6.75% $10,033
    The Fidelity Bank 1 6.25% $9,316
    The Park National Bank 1 6.00% $10,101
    TIDEWATER MORTGAGE SERVICES, INC. 1 6.63% $9,706
    TOP FLITE FINANCIAL, INC. 1 6.63% $13,054
    Truliant Federal Credit Union 1 6.13% $9,712
    UNITED MORTGAGE CORP 1 7.25% $7,139
    U.S. Bank 1 6.13% $9,712
    US MORTGAGE CORPORATION 1 7.75% $9,703
    VERITAS FUNDING, LLC 1 5.75% $9,815
    V.I.P. MORTGAGE, INC. 1 6.75% $8,035
    Waterstone Mortgage Corporation 1 6.63% $9,470
    1ST SIGNATURE LENDING, LLC 1 6.75% $12,864

    The top Spartanburg FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 226 FHA loans originated. Their average total fees are $7,957, which is $4,014 lower than the next largest lender, NVR Mortgage Finance, Inc..

    The lowest fee Spartanburg FHA lenders (with over 10 loans originated) are SOUTHPOINT FINANCIAL SERVICES, INC. ($7,471), DHI MORTGAGE COMPANY, LTD. ($7,957), INSPIRE HOME LOANS INC. ($8,370), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($8,410) and FBC MORTGAGE, LLC ($8,659).

    The lowest rate Spartanburg FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.20%), LOANDEPOT.COM, LLC (5.30%), FBC MORTGAGE, LLC (5.48%), INSPIRE HOME LOANS INC. (5.51%) and VANDERBILT MORTGAGE AND FINANCE, INC. (5.62%).

    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
    2025-03-01 $307,900 (0.0%) $364,169 (0.4%) 0.00 1,549
    Spartanburg's median listing price for 2025-03-01 was $307,900, a difference of $-100 (0.0%) versus the prior year and $2,900 versus the prior month.

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

    Spartanburg's average listing price for 2025-03-01 was $364,169, a difference of $1,283 (0.4%) versus the prior year and $320 versus the prior month.

    For the 2025-03-01 period, Spartanburg had 1,549 MLS listings, a difference of 142 listings (10%) versus the prior month and 306 listings (25%) 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
    2025-03-01 0 days 1,861 sqft
    Spartanburg's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Spartanburg's median square footage for active listings during the 2025-03-01 period was 1,861 sqft. One year prior, the average listing was 1,985 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).