Staunton FHA Loan Rates, Closing Costs & Stats
STAUNTON, VA
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.
Staunton's 80 lenders originated 441 FHA loans during 2022. The total origination value was $96,725,000, with an average FHA loan value of $219,331.
Staunton FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Staunton
averaged
6.6%
for the week of 2023-12-08, compared to the national average (all FHA variants) of
6.819% for the same period.
Staunton's average FHA mortgage closing costs are $6,655.
The average rate for the prior week (2023-12-01) was
6.61% and
one month ago for the week of 2023-11-03, the
average rate was 6.84%.
The average rate one year ago was 6.02%.
For refis of the same type during the week of 2023-12-08, the average rate
was 5.68%.
Staunton 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 Staunton level.
The top Staunton FHA lender as defined by loan originations is C & F Mortgage Corporation, with
61 FHA loans originated. Their average total fees are
$7,503, which is $1,102
higher than the next largest lender,
Alcova Mortgage LLC.
The lowest fee Staunton FHA lenders (with over 10 loans originated) are
Alcova Mortgage LLC ($6,401), MYCUMORTGAGE, LLC ($6,954), C & F Mortgage Corporation ($7,503), UNION HOME MORTGAGE CORP. ($9,023) and Integrity Home Mortgage Corp ($9,049).
The lowest rate Staunton FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (4.36%), Integrity Home Mortgage Corp (4.54%), C & F Mortgage Corporation (4.85%), Waterstone Mortgage Corporation (5.01%) and Alcova Mortgage LLC (5.10%).
Staunton FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
STAUNTON, VA | AUGUSTA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
STAUNTON, VA | STAUNTON CITY | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
STAUNTON, VA | WAYNESBORO CITY | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
STAUNTON, VA | AUGUSTA | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
STAUNTON, VA | STAUNTON CITY | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
STAUNTON, VA | WAYNESBORO CITY | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Staunton (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 | $232,475 (7.2%) | $296,224 (11.0%) | 0.00 | 479 |
2018-02-01 | $232,200 (5.8%) | $301,821 (11.7%) | 0.00 | 459 |
2018-03-01 | $234,900 (5.6%) | $307,715 (14.2%) | 0.00 | 445 |
2018-04-01 | $234,200 (1.9%) | $308,882 (11.2%) | 0.00 | 448 |
2018-05-01 | $239,900 (2.0%) | $311,726 (11.1%) | 0.00 | 477 |
2018-06-01 | $239,925 (2.1%) | $321,078 (13.5%) | 0.00 | 488 |
2018-07-01 | $247,875 (5.5%) | $333,512 (17.1%) | 0.00 | 469 |
2018-08-01 | $249,900 (6.4%) | $332,118 (18.2%) | 0.00 | 478 |
2018-09-01 | $249,900 (8.7%) | $331,902 (18.0%) | 0.00 | 475 |
2018-10-01 | $250,000 (6.4%) | $334,172 (14.7%) | 0.00 | 454 |
2018-11-01 | $249,900 (6.3%) | $334,868 (15.2%) | 0.00 | 422 |
2018-12-01 | $240,000 (2.6%) | $326,895 (13.4%) | 0.00 | 397 |
2019-01-01 | $243,750 (4.9%) | $330,815 (11.7%) | 0.00 | 377 |
2019-02-01 | $247,000 (6.4%) | $329,196 (9.1%) | 0.00 | 351 |
2019-03-01 | $262,814 (11.9%) | $345,627 (12.3%) | 0.00 | 354 |
2019-04-01 | $283,700 (21.1%) | $354,979 (14.9%) | 0.00 | 384 |
2019-05-01 | $293,550 (22.4%) | $351,209 (12.7%) | 0.00 | 408 |
2019-06-01 | $274,900 (14.6%) | $339,166 (5.6%) | 0.00 | 438 |
2019-07-01 | $262,371 (5.9%) | $334,150 (0.2%) | 0.00 | 437 |
2019-08-01 | $263,645 (5.5%) | $326,113 (-1.8%) | 0.00 | 437 |
2019-09-01 | $266,489 (6.6%) | $321,579 (-3.1%) | 0.00 | 433 |
2019-10-01 | $266,532 (6.6%) | $317,873 (-4.9%) | 0.00 | 416 |
2019-11-01 | $269,900 (8.0%) | $312,125 (-6.8%) | 0.00 | 378 |
2019-12-01 | $271,798 (13.3%) | $321,164 (-1.8%) | 0.00 | 363 |
2020-01-01 | $280,700 (15.2%) | $329,241 (-0.5%) | 0.00 | 321 |
2020-02-01 | $281,450 (14.0%) | $336,011 (2.1%) | 0.00 | 299 |
2020-03-01 | $285,000 (8.4%) | $339,831 (-1.7%) | 0.00 | 291 |
2020-04-01 | $288,250 (1.6%) | $348,870 (-1.7%) | 0.00 | 295 |
2020-05-01 | $289,000 (-1.6%) | $354,602 (1.0%) | 0.00 | 266 |
2020-06-01 | $309,900 (12.7%) | $359,219 (5.9%) | 0.00 | 226 |
2020-07-01 | $317,225 (20.9%) | $365,516 (9.4%) | 0.00 | 222 |
2020-08-01 | $301,850 (14.5%) | $367,630 (12.7%) | 0.00 | 199 |
2020-09-01 | $304,475 (14.3%) | $372,896 (16.0%) | 0.00 | 218 |
2020-10-01 | $294,500 (10.5%) | $358,326 (12.7%) | 0.00 | 215 |
2020-11-01 | $289,950 (7.4%) | $355,605 (13.9%) | 0.00 | 206 |
2020-12-01 | $286,150 (5.3%) | $356,282 (10.9%) | 0.00 | 180 |
2021-01-01 | $289,000 (3.0%) | $350,903 (6.6%) | 0.00 | 174 |
2021-02-01 | $283,974 (0.9%) | $358,430 (6.7%) | 0.00 | 142 |
2021-03-01 | $287,100 (0.7%) | $356,095 (4.8%) | 0.00 | 124 |
2021-04-01 | $287,100 (-0.4%) | $363,303 (4.1%) | 0.00 | 116 |
2021-05-01 | $277,000 (-4.2%) | $371,909 (4.9%) | 0.00 | 127 |
2021-06-01 | $327,225 (5.6%) | $410,031 (14.1%) | 0.00 | 128 |
2021-07-01 | $314,900 (-0.7%) | $493,700 (35.1%) | 0.00 | 164 |
2021-08-01 | $286,200 (-5.2%) | $483,006 (31.4%) | 0.00 | 177 |
2021-09-01 | $289,900 (-4.8%) | $495,257 (32.8%) | 0.00 | 179 |
2021-10-01 | $299,950 (1.9%) | $503,608 (40.5%) | 0.00 | 190 |
2021-11-01 | $299,450 (3.3%) | $500,731 (40.8%) | 0.00 | 180 |
2021-12-01 | $299,925 (4.8%) | $524,783 (47.3%) | 0.00 | 161 |
2022-01-01 | $309,900 (7.2%) | $551,355 (57.1%) | 0.00 | 137 |
2022-02-01 | $322,450 (13.6%) | $601,092 (67.7%) | 0.00 | 121 |
2022-03-01 | $328,412 (14.4%) | $560,949 (57.5%) | 0.00 | 120 |
2022-04-01 | $319,000 (11.1%) | $525,574 (44.7%) | 0.00 | 138 |
2022-05-01 | $336,150 (21.4%) | $445,503 (19.8%) | 0.00 | 152 |
2022-06-01 | $349,950 (6.9%) | $466,429 (13.8%) | 0.00 | 180 |
2022-07-01 | $349,450 (11.0%) | $477,829 (-3.2%) | 0.00 | 183 |
2022-08-01 | $359,000 (25.4%) | $477,422 (-1.2%) | 0.00 | 175 |
2022-09-01 | $364,200 (25.6%) | $452,869 (-8.6%) | 0.00 | 181 |
2022-10-01 | $367,800 (22.6%) | $455,772 (-9.5%) | 0.00 | 196 |
2022-11-01 | $369,225 (23.3%) | $453,475 (-9.4%) | 0.00 | 200 |
2022-12-01 | $367,800 (22.6%) | $451,801 (-13.9%) | 0.00 | 197 |
2023-01-01 | $367,650 (18.6%) | $431,294 (-21.8%) | 0.00 | 181 |
2023-02-01 | $362,950 (12.6%) | $422,514 (-29.7%) | 0.00 | 157 |
2023-03-01 | $367,000 (11.8%) | $436,802 (-22.1%) | 0.00 | 161 |
2023-04-01 | $369,850 (15.9%) | $450,917 (-14.2%) | 0.00 | 142 |
2023-05-01 | $374,950 (11.5%) | $459,354 (3.1%) | 0.00 | 159 |
2023-06-01 | $374,950 (7.1%) | $477,205 (2.3%) | 0.00 | 169 |
2023-07-01 | $364,900 (4.4%) | $444,580 (-7.0%) | 0.00 | 187 |
2023-08-01 | $364,900 (1.6%) | $434,062 (-9.1%) | 0.00 | 207 |
2023-09-01 | $364,900 (0.2%) | $431,559 (-4.7%) | 0.00 | 212 |
2023-10-01 | $349,450 (-5.0%) | $415,341 (-8.9%) | 0.00 | 239 |
2023-11-01 | $344,900 (-6.6%) | $410,857 (-9.4%) | 0.00 | 242 |
Staunton's median listing price comes in at 0% of the national average.
Staunton's average listing price for 2023-11-01 was $410,857, a difference of $-42,618 (-9.4%) versus the prior year and $-4,484 versus the prior month.
For the 2023-11-01 period, Staunton had 242 MLS listings, a difference of 3 listings (1%) versus the prior month and 42 listings (21%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Staunton (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,998 sqft |
2018-02-01 | 0 days | 1,998 sqft |
2018-03-01 | 0 days | 2,011 sqft |
2018-04-01 | 0 days | 2,000 sqft |
2018-05-01 | 0 days | 2,007 sqft |
2018-06-01 | 0 days | 2,014 sqft |
2018-07-01 | 0 days | 2,028 sqft |
2018-08-01 | 0 days | 2,098 sqft |
2018-09-01 | 0 days | 2,138 sqft |
2018-10-01 | 0 days | 2,119 sqft |
2018-11-01 | 0 days | 2,093 sqft |
2018-12-01 | 0 days | 2,000 sqft |
2019-01-01 | 0 days | 2,000 sqft |
2019-02-01 | 0 days | 1,975 sqft |
2019-03-01 | 0 days | 2,015 sqft |
2019-04-01 | 0 days | 2,104 sqft |
2019-05-01 | 0 days | 2,174 sqft |
2019-06-01 | 0 days | 2,101 sqft |
2019-07-01 | 0 days | 2,059 sqft |
2019-08-01 | 0 days | 2,016 sqft |
2019-09-01 | 0 days | 2,007 sqft |
2019-10-01 | 0 days | 2,000 sqft |
2019-11-01 | 0 days | 2,000 sqft |
2019-12-01 | 0 days | 2,000 sqft |
2020-01-01 | 0 days | 2,000 sqft |
2020-02-01 | 0 days | 2,073 sqft |
2020-03-01 | 0 days | 2,041 sqft |
2020-04-01 | 0 days | 2,082 sqft |
2020-05-01 | 0 days | 2,102 sqft |
2020-06-01 | 0 days | 2,147 sqft |
2020-07-01 | 0 days | 2,200 sqft |
2020-08-01 | 0 days | 2,109 sqft |
2020-09-01 | 0 days | 2,062 sqft |
2020-10-01 | 0 days | 2,038 sqft |
2020-11-01 | 0 days | 2,048 sqft |
2020-12-01 | 0 days | 2,019 sqft |
2021-01-01 | 0 days | 1,920 sqft |
2021-02-01 | 0 days | 1,936 sqft |
2021-03-01 | 0 days | 1,950 sqft |
2021-04-01 | 0 days | 1,936 sqft |
2021-05-01 | 0 days | 2,002 sqft |
2021-06-01 | 0 days | 2,038 sqft |
2021-07-01 | 0 days | 2,018 sqft |
2021-08-01 | 0 days | 1,863 sqft |
2021-09-01 | 0 days | 1,868 sqft |
2021-10-01 | 0 days | 2,000 sqft |
2021-11-01 | 0 days | 1,910 sqft |
2021-12-01 | 0 days | 1,878 sqft |
2022-01-01 | 0 days | 1,857 sqft |
2022-02-01 | 0 days | 1,923 sqft |
2022-03-01 | 0 days | 1,910 sqft |
2022-04-01 | 0 days | 1,775 sqft |
2022-05-01 | 0 days | 1,938 sqft |
2022-06-01 | 0 days | 1,962 sqft |
2022-07-01 | 0 days | 1,984 sqft |
2022-08-01 | 0 days | 1,977 sqft |
2022-09-01 | 0 days | 1,984 sqft |
2022-10-01 | 0 days | 1,975 sqft |
2022-11-01 | 0 days | 1,992 sqft |
2022-12-01 | 0 days | 1,994 sqft |
2023-01-01 | 0 days | 1,969 sqft |
2023-02-01 | 0 days | 1,925 sqft |
2023-03-01 | 0 days | 1,952 sqft |
2023-04-01 | 0 days | 1,958 sqft |
2023-05-01 | 0 days | 1,966 sqft |
2023-06-01 | 0 days | 1,987 sqft |
2023-07-01 | 0 days | 1,925 sqft |
2023-08-01 | 0 days | 1,960 sqft |
2023-09-01 | 0 days | 1,890 sqft |
2023-10-01 | 0 days | 1,854 sqft |
2023-11-01 | 0 days | 1,847 sqft |
Staunton's median square footage for active listings during the 2023-11-01 period was 1,847 sqft. One year prior, the average listing was 1,992 sqft.