Tampa FHA Loans
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
5.47%
for the week of 2022-08-05, compared to the national average (all FHA variants) of
5.305% for the same period.
The average rate for the prior week (2022-07-29) was
5.31% and
one month ago for the week of 2022-07-01, the
average rate was 5.4%.
The average rate one year ago was 2.9%.
For refis of the same type during the week of 2022-08-05, the average rate
was 5.21%.
Tampa FHA Loan Lenders by Rates & Fees
The below table looks at the average fees 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 & INVESTMENT LLC ($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 | $262,500 (5.0%) | $390,019 (2.7%) | 0.97 | 13,577 |
| 2018-02-01 | $265,000 (3.4%) | $389,585 (0.5%) | 0.96 | 13,735 |
| 2018-03-01 | $269,000 (3.5%) | $393,333 (0.4%) | 0.93 | 13,799 |
| 2018-04-01 | $276,015 (4.2%) | $405,857 (2.1%) | 0.93 | 13,492 |
| 2018-05-01 | $275,500 (2.1%) | $402,622 (0.6%) | 0.92 | 13,668 |
| 2018-06-01 | $276,500 (2.4%) | $402,506 (0.6%) | 0.92 | 13,811 |
| 2018-07-01 | $274,950 (1.9%) | $398,767 (0.6%) | 0.92 | 13,972 |
| 2018-08-01 | $271,445 (0.8%) | $396,622 (0.8%) | 0.91 | 14,154 |
| 2018-09-01 | $266,500 (-0.7%) | $388,408 (-0.7%) | 0.89 | 14,468 |
| 2018-10-01 | $267,950 (1.1%) | $391,368 (0.3%) | 0.90 | 15,000 |
| 2018-11-01 | $266,000 (-0.2%) | $387,699 (-1.1%) | 0.89 | 15,785 |
| 2018-12-01 | $264,960 (0.6%) | $382,235 (-1.6%) | 0.91 | 16,021 |
| 2019-01-01 | $264,495 (0.8%) | $383,191 (-1.8%) | 0.91 | 16,220 |
| 2019-02-01 | $268,530 (1.3%) | $391,059 (0.4%) | 0.90 | 16,416 |
| 2019-03-01 | $273,757 (1.8%) | $399,232 (1.5%) | 0.89 | 15,904 |
| 2019-04-01 | $278,950 (1.1%) | $404,882 (-0.2%) | 0.88 | 15,088 |
| 2019-05-01 | $280,995 (2.0%) | $408,268 (1.4%) | 0.87 | 14,736 |
| 2019-06-01 | $284,900 (3.0%) | $408,970 (1.6%) | 0.88 | 14,557 |
| 2019-07-01 | $282,540 (2.8%) | $405,305 (1.6%) | 0.88 | 14,178 |
| 2019-08-01 | $279,951 (3.1%) | $402,535 (1.5%) | 0.88 | 13,849 |
| 2019-09-01 | $279,900 (5.0%) | $401,782 (3.4%) | 0.89 | 13,556 |
| 2019-10-01 | $280,000 (4.5%) | $409,138 (4.5%) | 0.89 | 13,948 |
| 2019-11-01 | $279,000 (4.9%) | $406,897 (5.0%) | 0.90 | 13,721 |
| 2019-12-01 | $276,645 (4.4%) | $408,442 (6.9%) | 0.92 | 13,389 |
| 2020-01-01 | $275,000 (4.0%) | $411,693 (7.4%) | 0.92 | 12,950 |
| 2020-02-01 | $279,900 (4.2%) | $418,740 (7.1%) | 0.90 | 12,674 |
| 2020-03-01 | $282,000 (3.0%) | $422,651 (5.9%) | 0.88 | 12,548 |
| 2020-04-01 | $279,245 (0.1%) | $409,904 (1.2%) | 0.87 | 12,794 |
| 2020-05-01 | $284,900 (1.4%) | $423,242 (3.7%) | 0.86 | 11,883 |
| 2020-06-01 | $292,450 (2.7%) | $444,898 (8.8%) | 0.85 | 9,989 |
| 2020-07-01 | $297,992 (5.5%) | $461,539 (13.9%) | 0.85 | 8,917 |
| 2020-08-01 | $299,900 (7.1%) | $468,007 (16.3%) | 0.86 | 8,300 |
| 2020-09-01 | $300,000 (7.2%) | $479,601 (19.4%) | 0.86 | 7,878 |
| 2020-10-01 | $307,500 (9.8%) | $479,109 (17.1%) | 0.88 | 7,944 |
| 2020-11-01 | $302,990 (8.6%) | $475,098 (16.8%) | 0.87 | 7,792 |
| 2020-12-01 | $299,900 (8.4%) | $475,004 (16.3%) | 0.88 | 7,184 |
| 2021-01-01 | $299,000 (8.7%) | $486,343 (18.1%) | 0.88 | 6,069 |
| 2021-02-01 | $299,450 (7.0%) | $504,363 (20.5%) | 0.86 | 4,795 |
| 2021-03-01 | $302,500 (7.3%) | $512,360 (21.2%) | 0.85 | 3,928 |
| 2021-04-01 | $319,950 (14.6%) | $531,146 (29.6%) | 0.86 | 3,519 |
| 2021-05-01 | $335,000 (17.6%) | $536,977 (26.9%) | 0.88 | 3,638 |
| 2021-06-01 | $349,623 (19.6%) | $548,331 (23.3%) | 0.91 | 4,080 |
| 2021-07-01 | $350,000 (17.5%) | $557,117 (20.7%) | 0.91 | 4,596 |
| 2021-08-01 | $359,450 (19.9%) | $563,259 (20.4%) | 0.94 | 4,918 |
| 2021-09-01 | $362,500 (20.8%) | $556,633 (16.1%) | 0.95 | 4,869 |
| 2021-10-01 | $374,900 (21.9%) | $582,805 (21.6%) | 0.99 | 4,754 |
| 2021-11-01 | $377,500 (24.6%) | $593,002 (24.8%) | 0.99 | 4,460 |
| 2021-12-01 | $376,000 (25.4%) | $590,956 (24.4%) | 1.00 | 4,106 |
| 2022-01-01 | $384,900 (28.7%) | $618,347 (27.1%) | 1.03 | 3,415 |
| 2022-02-01 | $393,900 (31.5%) | $636,503 (26.2%) | 1.00 | 3,016 |
| 2022-03-01 | $399,450 (32.1%) | $650,584 (27.0%) | 0.99 | 3,064 |
| 2022-04-01 | $419,000 (31.0%) | $660,559 (24.4%) | 0.99 | 3,415 |
| 2022-05-01 | $437,400 (30.6%) | $665,807 (24.0%) | 0.98 | 4,931 |
| 2022-06-01 | $446,998 (27.9%) | $661,161 (20.6%) | 0.99 | 6,361 |
Tampa's median listing price comes in at 99% of the national average.
Tampa's average listing price for 2022-06-01 was $661,161, a difference of $112,830 (20.6%) versus the prior year and $-4,646 versus the prior month.
For the 2022-06-01 period, Tampa had 6,361 MLS listings, a difference of 1,430 listings (29%) versus the prior month and 2,281 listings (56%) 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 | 1,797 sqft |
| 2018-02-01 | 58 days | 1,805 sqft |
| 2018-03-01 | 51 days | 1,816 sqft |
| 2018-04-01 | 54 days | 1,832 sqft |
| 2018-05-01 | 54 days | 1,836 sqft |
| 2018-06-01 | 56 days | 1,838 sqft |
| 2018-07-01 | 58 days | 1,833 sqft |
| 2018-08-01 | 59 days | 1,828 sqft |
| 2018-09-01 | 59 days | 1,798 sqft |
| 2018-10-01 | 57 days | 1,805 sqft |
| 2018-11-01 | 57 days | 1,790 sqft |
| 2018-12-01 | 60 days | 1,760 sqft |
| 2019-01-01 | 70 days | 1,753 sqft |
| 2019-02-01 | 66 days | 1,758 sqft |
| 2019-03-01 | 58 days | 1,784 sqft |
| 2019-04-01 | 57 days | 1,802 sqft |
| 2019-05-01 | 57 days | 1,823 sqft |
| 2019-06-01 | 58 days | 1,829 sqft |
| 2019-07-01 | 58 days | 1,824 sqft |
| 2019-08-01 | 59 days | 1,815 sqft |
| 2019-09-01 | 60 days | 1,809 sqft |
| 2019-10-01 | 60 days | 1,823 sqft |
| 2019-11-01 | 59 days | 1,800 sqft |
| 2019-12-01 | 64 days | 1,785 sqft |
| 2020-01-01 | 68 days | 1,773 sqft |
| 2020-02-01 | 61 days | 1,783 sqft |
| 2020-03-01 | 52 days | 1,765 sqft |
| 2020-04-01 | 55 days | 1,738 sqft |
| 2020-05-01 | 66 days | 1,750 sqft |
| 2020-06-01 | 71 days | 1,762 sqft |
| 2020-07-01 | 59 days | 1,758 sqft |
| 2020-08-01 | 52 days | 1,755 sqft |
| 2020-09-01 | 50 days | 1,718 sqft |
| 2020-10-01 | 48 days | 1,707 sqft |
| 2020-11-01 | 48 days | 1,682 sqft |
| 2020-12-01 | 53 days | 1,672 sqft |
| 2021-01-01 | 57 days | 1,640 sqft |
| 2021-02-01 | 47 days | 1,625 sqft |
| 2021-03-01 | 40 days | 1,625 sqft |
| 2021-04-01 | 37 days | 1,636 sqft |
| 2021-05-01 | 34 days | 1,638 sqft |
| 2021-06-01 | 32 days | 1,649 sqft |
| 2021-07-01 | 35 days | 1,637 sqft |
| 2021-08-01 | 34 days | 1,636 sqft |
| 2021-09-01 | 37 days | 1,636 sqft |
| 2021-10-01 | 37 days | 1,642 sqft |
| 2021-11-01 | 39 days | 1,660 sqft |
| 2021-12-01 | 42 days | 1,633 sqft |
| 2022-01-01 | 44 days | 1,623 sqft |
| 2022-02-01 | 35 days | 1,622 sqft |
| 2022-03-01 | 32 days | 1,616 sqft |
| 2022-04-01 | 28 days | 1,624 sqft |
| 2022-05-01 | 27 days | 1,667 sqft |
| 2022-06-01 | 29 days | 1,698 sqft |
Tampa's median square footage for active listings during the 2022-06-01 period was 1,698 sqft. One year prior, the average listing was 1,649 sqft.
