Starkville FHA Loan Rates, Closing Costs & Stats

Starkville, MS

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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.

    Starkville's 27 lenders originated 96 FHA loans during 2023. The total origination value was $32,230,000, with an average FHA loan value of $335,729.

    Starkville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Starkville averaged 6.15% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Starkville's average FHA mortgage closing costs are $7,286.

    The average rate for the prior week (2024-12-06) was 6.02% and one month ago for the week of 2024-11-08, the average rate was 6.48%.

    The average rate one year ago was 6.69%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.48%.

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

    Starkville 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 Starkville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Flagstar Bank, FSB 19 6.11% $12,920
    QUICKEN LOANS, LLC 11 6.06% $9,254
    BancorpSouth 10 6.46% $8,870
    Renasant Bank 6 6.54% $9,471
    CIS Financial Services, Inc. 4 6.09% $13,090
    LOANDEPOT.COM, LLC 4 7.47% $9,962
    Regions Bank 3 6.08% $8,917
    Citizens Bank 3 5.54% $9,265
    Mr. Cooper ( Nationstar Mortgage ) 2 6.38% $12,446
    LEADERONE FINANCIAL CORPORATION 1 7.00% $10,713
    MID AMERICA MORTGAGE, INC. 1 7.75% $6,000
    Mortgage Research Center, LLC 1 6.25% $14,525
    MOVEMENT MORTGAGE, LLC 1 6.75% $8,206
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $9,903
    PENNYMAC LOAN SERVICES, LLC 1 6.63% $4,151
    SOUTHWEST STAGE FUNDING, LLC 1 6.88% $3,742
    STOCKTON MORTGAGE CORPORATION 1 6.75% $11,988
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.75% $10,537
    UNITED WHOLESALE MORTGAGE, LLC 1 5.13% $10,030
    Carrington Mortgage Services, LLC 1 6.13% $8,742
    CROSSCOUNTRY MORTGAGE, LLC 1 6.19% $11,597
    Equity Prime Mortgage LLC 1 5.88% $14,878
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $6,954
    FIRST COMMUNITY MORTGAGE, INC. 1 6.75% $7,690
    FREEDOM MORTGAGE CORPORATION 1 6.38% $9,005
    GENEVA FINANCIAL, LLC 1 6.75% $19,611
    HOMESIDE FINANCIAL, LLC 1 7.25% $10,966

    The top Starkville FHA lender as defined by loan originations is Flagstar Bank, FSB, with 19 FHA loans originated. Their average total fees are $12,920, which is $3,666 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Starkville FHA lenders (with over 10 loans originated) are BancorpSouth ($8,870), QUICKEN LOANS, LLC ($9,254), Flagstar Bank, FSB ($12,920), .

    The lowest rate Starkville FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.06%), Flagstar Bank, FSB (6.11%), BancorpSouth (6.46%), .

    Starkville FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Starkville (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 $232,675 (-10.4%) $264,850 (-1.0%) 0.00 221
    2018-02-01 $234,700 (-9.3%) $264,223 (-1.8%) 0.00 213
    2018-03-01 $229,900 (-8.0%) $258,857 (-4.0%) 0.00 245
    2018-04-01 $225,000 (-13.5%) $254,533 (-6.1%) 0.00 280
    2018-05-01 $225,000 (-10.2%) $251,601 (-5.8%) 0.00 291
    2018-06-01 $225,000 (-13.2%) $251,727 (-6.9%) 0.00 281
    2018-07-01 $229,200 (-8.3%) $253,812 (-4.5%) 0.00 291
    2018-08-01 $224,925 (-7.8%) $256,088 (-0.5%) 0.00 285
    2018-09-01 $229,000 (-6.2%) $259,628 (-1.1%) 0.00 270
    2018-10-01 $232,000 (-2.2%) $256,506 (-3.0%) 0.00 285
    2018-11-01 $232,983 (-0.4%) $260,805 (-0.2%) 0.00 273
    2018-12-01 $237,400 (0.6%) $262,255 (-0.8%) 0.00 255
    2019-01-01 $239,900 (3.1%) $260,641 (-1.6%) 0.00 251
    2019-02-01 $241,450 (2.9%) $264,142 (0.0%) 0.00 264
    2019-03-01 $243,543 (5.9%) $267,067 (3.2%) 0.00 268
    2019-04-01 $246,068 (9.4%) $272,439 (7.0%) 0.00 272
    2019-05-01 $246,500 (9.6%) $273,964 (8.9%) 0.00 281
    2019-06-01 $239,900 (6.6%) $273,275 (8.6%) 0.00 275
    2019-07-01 $251,888 (9.9%) $284,220 (12.0%) 0.00 273
    2019-08-01 $252,927 (12.5%) $282,982 (10.5%) 0.00 266
    2019-09-01 $250,718 (9.5%) $281,739 (8.5%) 0.00 253
    2019-10-01 $249,000 (7.3%) $280,911 (9.5%) 0.00 242
    2019-11-01 $247,500 (6.2%) $281,757 (8.0%) 0.00 234
    2019-12-01 $246,000 (3.6%) $285,029 (8.7%) 0.00 221
    2020-01-01 $254,700 (6.2%) $296,824 (13.9%) 0.00 213
    2020-02-01 $261,640 (8.4%) $312,433 (18.3%) 0.00 212
    2020-03-01 $265,860 (9.2%) $313,497 (17.4%) 0.00 221
    2020-04-01 $261,175 (6.1%) $309,620 (13.7%) 0.00 209
    2020-05-01 $249,900 (1.4%) $291,737 (6.5%) 0.00 239
    2020-06-01 $253,750 (5.8%) $291,188 (6.6%) 0.00 227
    2020-07-01 $264,700 (5.1%) $291,384 (2.5%) 0.00 220
    2020-08-01 $249,900 (-1.2%) $284,132 (0.4%) 0.00 231
    2020-09-01 $229,900 (-8.3%) $278,300 (-1.2%) 0.00 228
    2020-10-01 $238,500 (-4.2%) $284,191 (1.2%) 0.00 223
    2020-11-01 $243,750 (-1.5%) $280,355 (-0.5%) 0.00 200
    2020-12-01 $218,975 (-11.0%) $276,227 (-3.1%) 0.00 201
    2021-01-01 $210,000 (-17.6%) $282,481 (-4.8%) 0.00 191
    2021-02-01 $244,600 (-6.5%) $283,810 (-9.2%) 0.00 186
    2021-03-01 $239,975 (-9.7%) $281,705 (-10.1%) 0.00 169
    2021-04-01 $265,283 (1.6%) $291,290 (-5.9%) 0.00 151
    2021-05-01 $263,550 (5.5%) $293,098 (0.5%) 0.00 145
    2021-06-01 $254,590 (0.3%) $288,178 (-1.0%) 0.00 161
    2021-07-01 $252,255 (-4.7%) $283,217 (-2.8%) 0.00 167
    2021-08-01 $243,075 (-2.7%) $285,178 (0.4%) 0.00 149
    2021-09-01 $224,950 (-2.2%) $278,416 (0.0%) 0.00 147
    2021-10-01 $225,000 (-5.7%) $281,105 (-1.1%) 0.00 130
    2021-11-01 $259,900 (6.6%) $320,807 (14.4%) 0.00 90
    2021-12-01 $276,450 (26.3%) $351,069 (27.1%) 0.00 64
    2022-01-01 $275,000 (31.0%) $348,420 (23.3%) 0.00 75
    2022-02-01 $341,850 (39.8%) $384,597 (35.5%) 0.00 77
    2022-03-01 $334,700 (39.5%) $370,639 (31.6%) 0.00 88
    2022-04-01 $344,000 (29.7%) $374,064 (28.4%) 0.00 73
    2022-05-01 $328,150 (24.5%) $365,310 (24.6%) 0.00 78
    2022-06-01 $327,450 (28.6%) $355,574 (23.4%) 0.00 95
    2022-07-01 $343,500 (36.2%) $374,321 (32.2%) 0.00 113
    2022-08-01 $335,600 (38.1%) $377,065 (32.2%) 0.00 92
    2022-09-01 $337,400 (50.0%) $378,524 (36.0%) 0.00 94
    2022-10-01 $356,200 (58.3%) $382,219 (36.0%) 0.00 95
    2022-11-01 $354,150 (36.3%) $381,351 (18.9%) 0.00 105
    2022-12-01 $367,950 (33.1%) $387,874 (10.5%) 0.00 94
    2023-01-01 $380,000 (38.2%) $402,690 (15.6%) 0.00 95
    2023-02-01 $411,375 (20.3%) $406,337 (5.7%) 0.00 89
    2023-03-01 $414,000 (23.7%) $416,650 (12.4%) 0.00 92
    2023-04-01 $410,200 (19.2%) $408,348 (9.2%) 0.00 98
    2023-05-01 $407,775 (24.3%) $413,348 (13.2%) 0.00 114
    2023-06-01 $394,375 (20.4%) $401,686 (13.0%) 0.00 115
    2023-07-01 $409,900 (19.3%) $410,052 (9.6%) 0.00 108
    2023-08-01 $409,900 (22.1%) $430,981 (14.3%) 0.00 123
    2023-09-01 $372,500 (10.4%) $421,858 (11.5%) 0.00 107
    2023-10-01 $360,000 (1.1%) $419,855 (9.9%) 0.00 124
    2023-11-01 $352,250 (-0.5%) $405,054 (6.2%) 0.00 148
    2023-12-01 $367,250 (-0.2%) $426,715 (10.0%) 0.00 155
    2024-01-01 $378,750 (-0.3%) $427,145 (6.1%) 0.00 141
    2024-02-01 $376,500 (-8.5%) $418,631 (3.0%) 0.00 141
    2024-03-01 $378,000 (-8.7%) $421,485 (1.2%) 0.00 155
    2024-04-01 $372,475 (-9.2%) $418,556 (2.5%) 0.00 173
    2024-05-01 $375,000 (-8.0%) $420,166 (1.7%) 0.00 182
    2024-06-01 $380,000 (-3.7%) $419,348 (4.4%) 0.00 195
    2024-07-01 $351,250 (-14.3%) $404,915 (-1.3%) 0.00 216
    2024-08-01 $349,999 (-14.6%) $394,143 (-8.6%) 0.00 212
    2024-09-01 $346,224 (-7.1%) $388,800 (-7.8%) 0.00 221
    2024-10-01 $350,000 (-2.8%) $399,796 (-4.8%) 0.00 214
    2024-11-01 $349,900 (-0.7%) $396,683 (-2.1%) 0.00 206
    Starkville's median listing price for 2024-11-01 was $349,900, a difference of $-2,350 (-0.7%) versus the prior year and $-100 versus the prior month.

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

    Starkville's average listing price for 2024-11-01 was $396,683, a difference of $-8,371 (-2.1%) versus the prior year and $-3,113 versus the prior month.

    For the 2024-11-01 period, Starkville had 206 MLS listings, a difference of -8 listings (-4%) versus the prior month and 58 listings (39%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Starkville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,789 sqft
    2018-02-01 0 days 1,753 sqft
    2018-03-01 0 days 1,795 sqft
    2018-04-01 0 days 1,726 sqft
    2018-05-01 0 days 1,677 sqft
    2018-06-01 0 days 1,690 sqft
    2018-07-01 0 days 1,732 sqft
    2018-08-01 0 days 1,759 sqft
    2018-09-01 0 days 1,733 sqft
    2018-10-01 0 days 1,700 sqft
    2018-11-01 0 days 1,689 sqft
    2018-12-01 0 days 1,689 sqft
    2019-01-01 0 days 1,668 sqft
    2019-02-01 0 days 1,689 sqft
    2019-03-01 0 days 1,689 sqft
    2019-04-01 0 days 1,687 sqft
    2019-05-01 0 days 1,631 sqft
    2019-06-01 0 days 1,610 sqft
    2019-07-01 0 days 1,708 sqft
    2019-08-01 0 days 1,729 sqft
    2019-09-01 0 days 1,741 sqft
    2019-10-01 0 days 1,744 sqft
    2019-11-01 0 days 1,736 sqft
    2019-12-01 0 days 1,729 sqft
    2020-01-01 0 days 1,735 sqft
    2020-02-01 0 days 1,759 sqft
    2020-03-01 0 days 1,759 sqft
    2020-04-01 0 days 1,757 sqft
    2020-05-01 0 days 1,710 sqft
    2020-06-01 0 days 1,728 sqft
    2020-07-01 0 days 1,734 sqft
    2020-08-01 0 days 1,710 sqft
    2020-09-01 0 days 1,649 sqft
    2020-10-01 0 days 1,645 sqft
    2020-11-01 0 days 1,583 sqft
    2020-12-01 0 days 1,544 sqft
    2021-01-01 0 days 1,517 sqft
    2021-02-01 0 days 1,509 sqft
    2021-03-01 0 days 1,495 sqft
    2021-04-01 0 days 1,471 sqft
    2021-05-01 0 days 1,425 sqft
    2021-06-01 0 days 1,403 sqft
    2021-07-01 0 days 1,388 sqft
    2021-08-01 0 days 1,470 sqft
    2021-09-01 0 days 1,508 sqft
    2021-10-01 0 days 1,508 sqft
    2021-11-01 0 days 1,653 sqft
    2021-12-01 0 days 1,821 sqft
    2022-01-01 0 days 1,877 sqft
    2022-02-01 0 days 1,690 sqft
    2022-03-01 0 days 2,069 sqft
    2022-04-01 0 days 2,032 sqft
    2022-05-01 0 days 1,992 sqft
    2022-06-01 0 days 2,012 sqft
    2022-07-01 0 days 2,156 sqft
    2022-08-01 0 days 2,153 sqft
    2022-09-01 0 days 2,148 sqft
    2022-10-01 0 days 2,156 sqft
    2022-11-01 0 days 2,110 sqft
    2022-12-01 0 days 2,050 sqft
    2023-01-01 0 days 2,110 sqft
    2023-02-01 0 days 2,130 sqft
    2023-03-01 0 days 2,178 sqft
    2023-04-01 0 days 2,147 sqft
    2023-05-01 0 days 1,888 sqft
    2023-06-01 0 days 1,797 sqft
    2023-07-01 0 days 1,932 sqft
    2023-08-01 0 days 2,065 sqft
    2023-09-01 0 days 2,001 sqft
    2023-10-01 0 days 1,964 sqft
    2023-11-01 0 days 1,811 sqft
    2023-12-01 0 days 1,769 sqft
    2024-01-01 0 days 1,774 sqft
    2024-02-01 0 days 1,778 sqft
    2024-03-01 0 days 1,769 sqft
    2024-04-01 0 days 1,789 sqft
    2024-05-01 0 days 1,814 sqft
    2024-06-01 0 days 1,800 sqft
    2024-07-01 0 days 1,715 sqft
    2024-08-01 0 days 1,684 sqft
    2024-09-01 0 days 1,656 sqft
    2024-10-01 0 days 1,667 sqft
    2024-11-01 0 days 1,655 sqft
    Starkville's median listing age (time on market) for 2024-11-01 was 0 days.

    Starkville's median square footage for active listings during the 2024-11-01 period was 1,655 sqft. One year prior, the average listing was 1,811 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).