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 298 lenders originated 11,630 FHA loans during 2023. The total origination value was $3,571,350,000, with an average FHA loan value of $307,081.
Tampa FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Tampa
averaged
6.47%
for the week of 2024-11-08, compared to the national average (all FHA variants) of
6.425% for the same period.
Tampa's average FHA mortgage closing costs are $9,005.
The average rate for the prior week (2024-11-01) was
6.05% and
one month ago for the week of 2024-10-04, the
average rate was 5.87%.
The average rate one year ago was 7.01%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.6%.
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 UNITED WHOLESALE MORTGAGE, LLC, with
1,747 FHA loans originated. Their average total fees are
$13,767, which is $299
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Tampa FHA lenders (with over 10 loans originated) are
JPMorgan Chase Bank ($8,064), PULTE MORTGAGE LLC ($8,424), Mortgage Research Center, LLC ($8,701), INSPIRE HOME LOANS INC. ($9,716) and VAN DYK MORTGAGE CORPORATION ($9,803).
The lowest rate Tampa FHA lenders (with over 10 loans originated) are
VANDERBILT MORTGAGE AND FINANCE, INC. (5.53%), MATTAMY HOME FUNDING, LLC (5.63%), HOMEBRIDGE FINANCIAL SERVICES, INC. (5.64%), DHI MORTGAGE COMPANY, LTD. (5.66%) and NVR Mortgage Finance, Inc. (5.66%).
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 |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL | HERNANDO | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL | HILLSBOROUGH | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL | PASCO | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| TAMPA-ST. PETERSBURG-CLEARWATER, FL | PINELLAS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
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%) | $395,388 (3.4%) | 0.99 | 13,114 |
| 2018-02-01 | $267,736 (4.0%) | $394,066 (0.9%) | 0.97 | 13,295 |
| 2018-03-01 | $269,900 (3.8%) | $397,972 (0.9%) | 0.95 | 13,381 |
| 2018-04-01 | $277,750 (4.8%) | $408,745 (2.1%) | 0.94 | 13,194 |
| 2018-05-01 | $278,320 (3.1%) | $405,556 (0.7%) | 0.93 | 13,361 |
| 2018-06-01 | $279,000 (3.3%) | $405,160 (0.6%) | 0.93 | 13,524 |
| 2018-07-01 | $276,545 (2.5%) | $401,532 (1.0%) | 0.92 | 13,653 |
| 2018-08-01 | $274,750 (1.8%) | $400,410 (1.0%) | 0.92 | 13,824 |
| 2018-09-01 | $269,040 (-0.2%) | $391,542 (-0.6%) | 0.90 | 14,121 |
| 2018-10-01 | $269,825 (1.0%) | $394,341 (0.0%) | 0.91 | 14,644 |
| 2018-11-01 | $269,020 (0.1%) | $390,665 (-1.6%) | 0.91 | 15,346 |
| 2018-12-01 | $267,000 (0.8%) | $385,354 (-2.1%) | 0.92 | 15,537 |
| 2019-01-01 | $265,495 (-0.3%) | $385,653 (-2.5%) | 0.92 | 15,824 |
| 2019-02-01 | $269,900 (0.8%) | $392,998 (-0.3%) | 0.91 | 16,085 |
| 2019-03-01 | $274,242 (1.6%) | $400,617 (0.7%) | 0.90 | 15,593 |
| 2019-04-01 | $279,900 (0.8%) | $405,434 (-0.8%) | 0.89 | 14,784 |
| 2019-05-01 | $284,042 (2.1%) | $408,326 (0.7%) | 0.89 | 14,365 |
| 2019-06-01 | $285,000 (2.2%) | $410,145 (1.2%) | 0.89 | 14,208 |
| 2019-07-01 | $285,000 (3.1%) | $406,717 (1.3%) | 0.89 | 13,854 |
| 2019-08-01 | $282,396 (2.8%) | $405,592 (1.3%) | 0.89 | 13,788 |
| 2019-09-01 | $281,048 (4.5%) | $406,014 (3.7%) | 0.90 | 13,756 |
| 2019-10-01 | $280,000 (3.8%) | $407,467 (3.3%) | 0.90 | 13,727 |
| 2019-11-01 | $279,900 (4.0%) | $409,672 (4.9%) | 0.92 | 13,406 |
| 2019-12-01 | $279,450 (4.7%) | $411,875 (6.9%) | 0.93 | 13,056 |
| 2020-01-01 | $276,700 (4.2%) | $415,741 (7.8%) | 0.92 | 12,621 |
| 2020-02-01 | $280,000 (3.7%) | $422,456 (7.5%) | 0.92 | 12,390 |
| 2020-03-01 | $284,000 (3.6%) | $425,706 (6.3%) | 0.89 | 12,273 |
| 2020-04-01 | $279,900 (0.0%) | $413,553 (2.0%) | 0.88 | 12,472 |
| 2020-05-01 | $285,000 (0.3%) | $426,215 (4.4%) | 0.87 | 11,626 |
| 2020-06-01 | $294,728 (3.4%) | $448,478 (9.4%) | 0.87 | 9,783 |
| 2020-07-01 | $299,178 (5.0%) | $463,681 (14.0%) | 0.87 | 8,773 |
| 2020-08-01 | $299,999 (6.2%) | $470,876 (16.1%) | 0.86 | 8,145 |
| 2020-09-01 | $304,950 (8.5%) | $481,459 (18.6%) | 0.87 | 7,775 |
| 2020-10-01 | $309,900 (10.7%) | $480,254 (17.9%) | 0.89 | 7,853 |
| 2020-11-01 | $305,000 (9.0%) | $476,813 (16.4%) | 0.89 | 7,677 |
| 2020-12-01 | $299,996 (7.4%) | $477,575 (16.0%) | 0.89 | 7,050 |
| 2021-01-01 | $299,900 (8.4%) | $493,734 (18.8%) | 0.90 | 5,753 |
| 2021-02-01 | $299,700 (7.0%) | $507,769 (20.2%) | 0.87 | 4,756 |
| 2021-03-01 | $304,041 (7.1%) | $515,492 (21.1%) | 0.86 | 3,920 |
| 2021-04-01 | $321,548 (14.9%) | $533,800 (29.1%) | 0.87 | 3,539 |
| 2021-05-01 | $337,428 (18.4%) | $539,796 (26.7%) | 0.90 | 3,620 |
| 2021-06-01 | $349,900 (18.7%) | $550,544 (22.8%) | 0.92 | 4,054 |
| 2021-07-01 | $350,000 (17.0%) | $564,725 (21.8%) | 0.92 | 4,662 |
| 2021-08-01 | $359,950 (20.0%) | $567,128 (20.4%) | 0.96 | 4,864 |
| 2021-09-01 | $367,000 (20.4%) | $562,134 (16.8%) | 0.98 | 4,805 |
| 2021-10-01 | $375,000 (21.0%) | $588,911 (22.6%) | 1.00 | 4,703 |
| 2021-11-01 | $382,000 (25.3%) | $599,162 (25.7%) | 1.02 | 4,415 |
| 2021-12-01 | $378,450 (26.2%) | $598,379 (25.3%) | 1.03 | 4,062 |
| 2022-01-01 | $385,000 (28.4%) | $627,165 (27.0%) | 1.04 | 3,392 |
| 2022-02-01 | $395,794 (32.1%) | $643,015 (26.6%) | 1.03 | 2,985 |
| 2022-03-01 | $399,950 (31.5%) | $661,580 (28.3%) | 1.00 | 3,076 |
| 2022-04-01 | $421,000 (30.9%) | $668,837 (25.3%) | 1.00 | 3,425 |
| 2022-05-01 | $439,625 (30.3%) | $674,221 (24.9%) | 1.01 | 4,883 |
| 2022-06-01 | $449,450 (28.5%) | $667,079 (21.2%) | 1.00 | 6,266 |
| 2022-07-01 | $444,900 (27.1%) | $644,368 (14.1%) | 1.00 | 8,638 |
| 2022-08-01 | $437,450 (21.5%) | $619,248 (9.2%) | 1.01 | 9,629 |
| 2022-09-01 | $429,450 (17.0%) | $612,959 (9.0%) | 1.00 | 10,076 |
| 2022-10-01 | $425,000 (13.3%) | $612,369 (4.0%) | 1.00 | 10,276 |
| 2022-11-01 | $415,000 (8.6%) | $604,228 (0.9%) | 1.00 | 11,129 |
| 2022-12-01 | $409,000 (8.1%) | $599,862 (0.3%) | 1.01 | 10,926 |
| 2023-01-01 | $400,000 (3.9%) | $608,470 (-3.0%) | 0.99 | 10,410 |
| 2023-02-01 | $400,000 (1.1%) | $622,584 (-3.2%) | 0.97 | 9,686 |
| 2023-03-01 | $410,000 (2.5%) | $651,365 (-1.5%) | 0.97 | 8,848 |
| 2023-04-01 | $412,000 (-2.1%) | $650,306 (-2.8%) | 0.96 | 8,624 |
| 2023-05-01 | $439,000 (-0.1%) | $682,374 (1.2%) | 1.00 | 8,149 |
| 2023-06-01 | $445,000 (-1.0%) | $692,472 (3.8%) | 1.00 | 8,178 |
| 2023-07-01 | $449,000 (0.9%) | $689,992 (7.1%) | 1.02 | 8,341 |
| 2023-08-01 | $442,500 (1.2%) | $676,636 (9.3%) | 1.02 | 8,691 |
| 2023-09-01 | $439,244 (2.3%) | $655,991 (7.0%) | 1.02 | 9,566 |
| 2023-10-01 | $429,950 (1.2%) | $651,440 (6.4%) | 1.01 | 11,057 |
| 2023-11-01 | $425,000 (2.4%) | $634,286 (5.0%) | 1.01 | 12,245 |
| 2023-12-01 | $420,000 (2.7%) | $627,779 (4.7%) | 1.02 | 12,399 |
| 2024-01-01 | $419,450 (4.9%) | $629,556 (3.5%) | 1.02 | 12,506 |
| 2024-02-01 | $415,500 (3.9%) | $623,443 (0.1%) | 1.00 | 13,201 |
| 2024-03-01 | $419,000 (2.2%) | $624,384 (-4.1%) | 0.99 | 14,010 |
| 2024-04-01 | $419,950 (1.9%) | $630,268 (-3.1%) | 0.98 | 14,622 |
| 2024-05-01 | $425,000 (-3.2%) | $640,553 (-6.1%) | 0.96 | 15,271 |
| 2024-06-01 | $425,000 (-4.5%) | $641,575 (-7.4%) | 0.96 | 15,788 |
| 2024-07-01 | $420,500 (-6.4%) | $622,860 (-9.7%) | 0.96 | 16,256 |
| 2024-08-01 | $415,000 (-6.2%) | $605,735 (-10.5%) | 0.97 | 16,525 |
| 2024-09-01 | $414,948 (-5.5%) | $594,863 (-9.3%) | 0.98 | 16,645 |
| 2024-10-01 | $399,999 (-7.0%) | $576,056 (-11.6%) | 0.94 | 15,542 |
Tampa's median listing price comes in at 94% of the national average.
Tampa's average listing price for 2024-10-01 was $576,056, a difference of $-75,384 (-11.6%) versus the prior year and $-18,807 versus the prior month.
For the 2024-10-01 period, Tampa had 15,542 MLS listings, a difference of -1,103 listings (-7%) versus the prior month and 4,485 listings (41%) 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 | 64 days | 1,790 sqft |
| 2018-02-01 | 54 days | 1,797 sqft |
| 2018-03-01 | 50 days | 1,811 sqft |
| 2018-04-01 | 51 days | 1,829 sqft |
| 2018-05-01 | 50 days | 1,830 sqft |
| 2018-06-01 | 52 days | 1,835 sqft |
| 2018-07-01 | 54 days | 1,827 sqft |
| 2018-08-01 | 56 days | 1,824 sqft |
| 2018-09-01 | 57 days | 1,788 sqft |
| 2018-10-01 | 54 days | 1,797 sqft |
| 2018-11-01 | 54 days | 1,782 sqft |
| 2018-12-01 | 59 days | 1,755 sqft |
| 2019-01-01 | 67 days | 1,744 sqft |
| 2019-02-01 | 62 days | 1,753 sqft |
| 2019-03-01 | 55 days | 1,775 sqft |
| 2019-04-01 | 57 days | 1,796 sqft |
| 2019-05-01 | 57 days | 1,819 sqft |
| 2019-06-01 | 57 days | 1,828 sqft |
| 2019-07-01 | 57 days | 1,820 sqft |
| 2019-08-01 | 58 days | 1,813 sqft |
| 2019-09-01 | 59 days | 1,808 sqft |
| 2019-10-01 | 60 days | 1,804 sqft |
| 2019-11-01 | 58 days | 1,787 sqft |
| 2019-12-01 | 62 days | 1,774 sqft |
| 2020-01-01 | 66 days | 1,761 sqft |
| 2020-02-01 | 57 days | 1,770 sqft |
| 2020-03-01 | 50 days | 1,757 sqft |
| 2020-04-01 | 53 days | 1,734 sqft |
| 2020-05-01 | 64 days | 1,746 sqft |
| 2020-06-01 | 64 days | 1,754 sqft |
| 2020-07-01 | 55 days | 1,754 sqft |
| 2020-08-01 | 48 days | 1,747 sqft |
| 2020-09-01 | 47 days | 1,713 sqft |
| 2020-10-01 | 44 days | 1,698 sqft |
| 2020-11-01 | 45 days | 1,674 sqft |
| 2020-12-01 | 50 days | 1,660 sqft |
| 2021-01-01 | 54 days | 1,630 sqft |
| 2021-02-01 | 40 days | 1,612 sqft |
| 2021-03-01 | 35 days | 1,614 sqft |
| 2021-04-01 | 33 days | 1,630 sqft |
| 2021-05-01 | 31 days | 1,635 sqft |
| 2021-06-01 | 29 days | 1,641 sqft |
| 2021-07-01 | 32 days | 1,631 sqft |
| 2021-08-01 | 31 days | 1,629 sqft |
| 2021-09-01 | 36 days | 1,626 sqft |
| 2021-10-01 | 35 days | 1,633 sqft |
| 2021-11-01 | 37 days | 1,648 sqft |
| 2021-12-01 | 53 days | 1,623 sqft |
| 2022-01-01 | 40 days | 1,610 sqft |
| 2022-02-01 | 31 days | 1,608 sqft |
| 2022-03-01 | 29 days | 1,602 sqft |
| 2022-04-01 | 26 days | 1,616 sqft |
| 2022-05-01 | 24 days | 1,649 sqft |
| 2022-06-01 | 26 days | 1,690 sqft |
| 2022-07-01 | 29 days | 1,704 sqft |
| 2022-08-01 | 37 days | 1,716 sqft |
| 2022-09-01 | 44 days | 1,720 sqft |
| 2022-10-01 | 50 days | 1,708 sqft |
| 2022-11-01 | 54 days | 1,690 sqft |
| 2022-12-01 | 58 days | 1,680 sqft |
| 2023-01-01 | 65 days | 1,673 sqft |
| 2023-02-01 | 59 days | 1,667 sqft |
| 2023-03-01 | 51 days | 1,673 sqft |
| 2023-04-01 | 49 days | 1,673 sqft |
| 2023-05-01 | 46 days | 1,686 sqft |
| 2023-06-01 | 46 days | 1,700 sqft |
| 2023-07-01 | 46 days | 1,702 sqft |
| 2023-08-01 | 44 days | 1,689 sqft |
| 2023-09-01 | 44 days | 1,690 sqft |
| 2023-10-01 | 44 days | 1,672 sqft |
| 2023-11-01 | 47 days | 1,652 sqft |
| 2023-12-01 | 57 days | 1,622 sqft |
| 2024-01-01 | 64 days | 1,600 sqft |
| 2024-02-01 | 57 days | 1,590 sqft |
| 2024-03-01 | 51 days | 1,598 sqft |
| 2024-04-01 | 52 days | 1,602 sqft |
| 2024-05-01 | 51 days | 1,616 sqft |
| 2024-06-01 | 53 days | 1,618 sqft |
| 2024-07-01 | 61 days | 1,619 sqft |
| 2024-08-01 | 64 days | 1,619 sqft |
| 2024-09-01 | 66 days | 1,601 sqft |
| 2024-10-01 | 73 days | 1,603 sqft |
Tampa's median square footage for active listings during the 2024-10-01 period was 1,603 sqft. One year prior, the average listing was 1,672 sqft.