Tampa FHA Loan Rates, Closing Costs & Stats
TAMPA-ST. PETERSBURG-CLEARWATER, 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.
Tampa's 341 lenders originated 18,721 FHA loans during 2021. The total origination value was $4,269,845,000, with an average FHA loan value of $228,078.
Tampa FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Tampa
averaged
6.15%
for the week of 2023-01-27, compared to the national average (all FHA variants) of
6.186% for the same period.
Tampa's average FHA mortgage closing costs are $7,722.
The average rate for the prior week (2023-01-20) was
6.12% and
one month ago for the week of 2022-12-23, the
average rate was 6.22%.
The average rate one year ago was 3.61%.
For refis of the same type during the week of 2023-01-27, the average rate
was 5.89%.
Tampa 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 Tampa level.
The top Tampa FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
1,476 FHA loans originated. Their average total fees are
$6,660, which is $1,955
lower than the next largest lender,
CALIBER HOME LOANS, INC..
The lowest fee Tampa FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE ($2,854), OCEANSIDE MORTGAGE COMPANY ($3,373), AmeriHome Mortgage Company, LLC ($4,628), Lakeview Community Capital, LLC ($4,755) and Mr. Cooper ( Nationstar Mortgage ) ($4,790).
The lowest rate Tampa FHA lenders (with over 10 loans originated) are
Hancock Whitney Bank (2.44%), South Pacific Financial Corporation (2.55%), LOANPAL, LLC (2.61%), MATTAMY HOME FUNDING, LLC (2.67%) and HOME SOLUTION LENDERS INC. (2.67%).
Tampa FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| TAMPA-ST. PETERSBURG-CLEARWATER, FL | HERNANDO | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL | HILLSBOROUGH | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL | PASCO | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL | PINELLAS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Tampa (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 | $266,250 (6.5%) | $395,404 (3.4%) | 0.99 | 13,116 |
| 2018-02-01 | $267,722 (4.0%) | $394,093 (0.9%) | 0.97 | 13,297 |
| 2018-03-01 | $269,900 (3.8%) | $398,001 (0.9%) | 0.95 | 13,383 |
| 2018-04-01 | $277,750 (4.8%) | $408,751 (2.1%) | 0.94 | 13,195 |
| 2018-05-01 | $278,320 (3.1%) | $405,554 (0.7%) | 0.93 | 13,361 |
| 2018-06-01 | $279,000 (3.3%) | $405,178 (0.6%) | 0.93 | 13,524 |
| 2018-07-01 | $276,545 (2.5%) | $401,501 (0.9%) | 0.92 | 13,653 |
| 2018-08-01 | $274,748 (1.8%) | $400,348 (1.0%) | 0.92 | 13,824 |
| 2018-09-01 | $269,040 (-0.2%) | $391,554 (-0.6%) | 0.90 | 14,120 |
| 2018-10-01 | $269,700 (0.9%) | $394,349 (0.0%) | 0.91 | 14,643 |
| 2018-11-01 | $269,020 (0.1%) | $390,669 (-1.6%) | 0.91 | 15,344 |
| 2018-12-01 | $267,000 (0.8%) | $385,355 (-2.1%) | 0.92 | 15,537 |
| 2019-01-01 | $265,495 (-0.3%) | $385,715 (-2.5%) | 0.92 | 15,824 |
| 2019-02-01 | $269,900 (0.8%) | $393,071 (-0.3%) | 0.91 | 16,085 |
| 2019-03-01 | $274,242 (1.6%) | $400,684 (0.7%) | 0.90 | 15,596 |
| 2019-04-01 | $279,900 (0.8%) | $405,565 (-0.8%) | 0.89 | 14,790 |
| 2019-05-01 | $283,950 (2.0%) | $408,307 (0.7%) | 0.89 | 14,374 |
| 2019-06-01 | $285,000 (2.2%) | $410,055 (1.2%) | 0.89 | 14,219 |
| 2019-07-01 | $285,000 (3.1%) | $406,639 (1.3%) | 0.89 | 13,866 |
| 2019-08-01 | $282,182 (2.7%) | $405,432 (1.3%) | 0.89 | 13,799 |
| 2019-09-01 | $280,954 (4.4%) | $405,723 (3.6%) | 0.90 | 13,768 |
| 2019-10-01 | $280,000 (3.8%) | $407,224 (3.3%) | 0.90 | 13,740 |
| 2019-11-01 | $279,900 (4.0%) | $409,532 (4.8%) | 0.92 | 13,420 |
| 2019-12-01 | $279,325 (4.6%) | $411,754 (6.9%) | 0.93 | 13,070 |
| 2020-01-01 | $276,495 (4.1%) | $415,583 (7.7%) | 0.92 | 12,635 |
| 2020-02-01 | $280,000 (3.7%) | $422,293 (7.4%) | 0.92 | 12,404 |
| 2020-03-01 | $283,968 (3.6%) | $425,486 (6.2%) | 0.89 | 12,289 |
| 2020-04-01 | $279,900 (0.0%) | $413,404 (1.9%) | 0.88 | 12,487 |
| 2020-05-01 | $285,000 (0.4%) | $426,037 (4.3%) | 0.87 | 11,641 |
| 2020-06-01 | $294,500 (3.3%) | $448,252 (9.3%) | 0.87 | 9,797 |
| 2020-07-01 | $299,000 (4.9%) | $463,422 (14.0%) | 0.87 | 8,787 |
| 2020-08-01 | $299,999 (6.3%) | $470,591 (16.1%) | 0.86 | 8,159 |
| 2020-09-01 | $304,950 (8.5%) | $481,156 (18.6%) | 0.87 | 7,787 |
| 2020-10-01 | $309,900 (10.7%) | $479,991 (17.9%) | 0.89 | 7,864 |
| 2020-11-01 | $304,950 (9.0%) | $476,542 (16.4%) | 0.89 | 7,688 |
| 2020-12-01 | $299,995 (7.4%) | $477,271 (15.9%) | 0.89 | 7,060 |
| 2021-01-01 | $299,900 (8.5%) | $493,342 (18.7%) | 0.90 | 5,764 |
| 2021-02-01 | $299,450 (7.0%) | $508,539 (20.4%) | 0.87 | 4,769 |
| 2021-03-01 | $303,450 (6.9%) | $515,609 (21.2%) | 0.86 | 3,933 |
| 2021-04-01 | $320,480 (14.5%) | $533,578 (29.1%) | 0.87 | 3,553 |
| 2021-05-01 | $335,245 (17.6%) | $537,985 (26.3%) | 0.89 | 3,633 |
| 2021-06-01 | $349,900 (18.8%) | $549,642 (22.6%) | 0.92 | 4,064 |
| 2021-07-01 | $350,000 (17.1%) | $563,293 (21.6%) | 0.92 | 4,672 |
| 2021-08-01 | $359,500 (19.8%) | $565,783 (20.2%) | 0.96 | 4,874 |
| 2021-09-01 | $366,375 (20.1%) | $560,428 (16.5%) | 0.98 | 4,817 |
| 2021-10-01 | $375,000 (21.0%) | $587,427 (22.4%) | 1.00 | 4,715 |
| 2021-11-01 | $381,500 (25.1%) | $597,607 (25.4%) | 1.02 | 4,429 |
| 2021-12-01 | $377,450 (25.8%) | $597,292 (25.2%) | 1.02 | 4,076 |
| 2022-01-01 | $385,000 (28.4%) | $626,033 (26.9%) | 1.04 | 3,406 |
| 2022-02-01 | $394,250 (31.7%) | $641,859 (26.2%) | 1.03 | 2,998 |
| 2022-03-01 | $399,900 (31.8%) | $660,902 (28.2%) | 1.00 | 3,090 |
| 2022-04-01 | $420,000 (31.1%) | $665,661 (24.8%) | 1.00 | 3,439 |
| 2022-05-01 | $437,598 (30.5%) | $673,348 (25.2%) | 1.00 | 4,897 |
| 2022-06-01 | $449,450 (28.5%) | $667,739 (21.5%) | 1.00 | 6,280 |
| 2022-07-01 | $444,200 (26.9%) | $644,887 (14.5%) | 1.01 | 8,653 |
| 2022-08-01 | $437,450 (21.7%) | $619,353 (9.5%) | 1.01 | 9,643 |
| 2022-09-01 | $429,450 (17.2%) | $613,212 (9.4%) | 1.01 | 10,091 |
| 2022-10-01 | $425,000 (13.3%) | $612,544 (4.3%) | 1.00 | 10,290 |
| 2022-11-01 | $415,000 (8.8%) | $604,053 (1.1%) | 1.00 | 11,143 |
| 2022-12-01 | $405,000 (7.3%) | $596,712 (-0.1%) | 1.01 | 11,040 |
Tampa's median listing price comes in at 101% of the national average.
Tampa's average listing price for 2022-12-01 was $596,712, a difference of $-580 (-0.1%) versus the prior year and $-7,341 versus the prior month.
For the 2022-12-01 period, Tampa had 11,040 MLS listings, a difference of -103 listings (-1%) versus the prior month and 6,964 listings (171%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Tampa (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 66 days | 1,790 sqft |
| 2018-02-01 | 58 days | 1,797 sqft |
| 2018-03-01 | 51 days | 1,811 sqft |
| 2018-04-01 | 53 days | 1,829 sqft |
| 2018-05-01 | 52 days | 1,830 sqft |
| 2018-06-01 | 54 days | 1,836 sqft |
| 2018-07-01 | 58 days | 1,827 sqft |
| 2018-08-01 | 58 days | 1,824 sqft |
| 2018-09-01 | 59 days | 1,788 sqft |
| 2018-10-01 | 57 days | 1,797 sqft |
| 2018-11-01 | 57 days | 1,781 sqft |
| 2018-12-01 | 61 days | 1,755 sqft |
| 2019-01-01 | 70 days | 1,744 sqft |
| 2019-02-01 | 65 days | 1,753 sqft |
| 2019-03-01 | 58 days | 1,775 sqft |
| 2019-04-01 | 58 days | 1,796 sqft |
| 2019-05-01 | 60 days | 1,819 sqft |
| 2019-06-01 | 59 days | 1,828 sqft |
| 2019-07-01 | 59 days | 1,820 sqft |
| 2019-08-01 | 60 days | 1,813 sqft |
| 2019-09-01 | 62 days | 1,808 sqft |
| 2019-10-01 | 64 days | 1,804 sqft |
| 2019-11-01 | 60 days | 1,787 sqft |
| 2019-12-01 | 65 days | 1,774 sqft |
| 2020-01-01 | 68 days | 1,761 sqft |
| 2020-02-01 | 60 days | 1,769 sqft |
| 2020-03-01 | 52 days | 1,757 sqft |
| 2020-04-01 | 56 days | 1,734 sqft |
| 2020-05-01 | 66 days | 1,746 sqft |
| 2020-06-01 | 69 days | 1,754 sqft |
| 2020-07-01 | 58 days | 1,754 sqft |
| 2020-08-01 | 51 days | 1,746 sqft |
| 2020-09-01 | 49 days | 1,712 sqft |
| 2020-10-01 | 46 days | 1,697 sqft |
| 2020-11-01 | 47 days | 1,674 sqft |
| 2020-12-01 | 52 days | 1,660 sqft |
| 2021-01-01 | 57 days | 1,630 sqft |
| 2021-02-01 | 43 days | 1,610 sqft |
| 2021-03-01 | 37 days | 1,612 sqft |
| 2021-04-01 | 35 days | 1,628 sqft |
| 2021-05-01 | 32 days | 1,635 sqft |
| 2021-06-01 | 30 days | 1,641 sqft |
| 2021-07-01 | 33 days | 1,630 sqft |
| 2021-08-01 | 32 days | 1,628 sqft |
| 2021-09-01 | 36 days | 1,625 sqft |
| 2021-10-01 | 36 days | 1,632 sqft |
| 2021-11-01 | 38 days | 1,647 sqft |
| 2021-12-01 | 54 days | 1,621 sqft |
| 2022-01-01 | 41 days | 1,608 sqft |
| 2022-02-01 | 32 days | 1,607 sqft |
| 2022-03-01 | 30 days | 1,601 sqft |
| 2022-04-01 | 27 days | 1,613 sqft |
| 2022-05-01 | 24 days | 1,645 sqft |
| 2022-06-01 | 27 days | 1,687 sqft |
| 2022-07-01 | 29 days | 1,702 sqft |
| 2022-08-01 | 37 days | 1,715 sqft |
| 2022-09-01 | 44 days | 1,720 sqft |
| 2022-10-01 | 51 days | 1,708 sqft |
| 2022-11-01 | 54 days | 1,690 sqft |
| 2022-12-01 | 59 days | 1,678 sqft |
Tampa's median square footage for active listings during the 2022-12-01 period was 1,678 sqft. One year prior, the average listing was 1,621 sqft.