The Villages FHA Loan Rates, Closing Costs & Stats
THE VILLAGES, 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.
The Villages's 75 lenders originated 317 FHA loans during 2023. The total origination value was $76,605,000, with an average FHA loan value of $241,656.
The Villages FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in The Villages
averaged
5.85%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
The Villages's average FHA mortgage closing costs are $8,798.
The average rate for the prior week (2024-09-27) was
5.75% and
one month ago for the week of 2024-08-30, the
average rate was 6.2%.
The average rate one year ago was 7.24%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.99%.
The Villages 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 The Villages level.
The top The Villages FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with
35 FHA loans originated. Their average total fees are
$9,013, which is $668
lower than the next largest lender,
INSPIRE HOME LOANS INC..
The lowest fee The Villages FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($9,013), INSPIRE HOME LOANS INC. ($9,681), QUICKEN LOANS, LLC ($11,155), UNITED WHOLESALE MORTGAGE, LLC ($11,411) and .
The lowest rate The Villages FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.29%), INSPIRE HOME LOANS INC. (6.15%), QUICKEN LOANS, LLC (6.30%), UNITED WHOLESALE MORTGAGE, LLC (6.58%) and .
The Villages FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
THE VILLAGES, FL | SUMTER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
THE VILLAGES, FL | SUMTER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - The Villages (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 | $262,423 (5.4%) | $342,731 (8.8%) | 0.97 | 340 |
2018-02-01 | $259,925 (4.0%) | $350,017 (12.5%) | 0.94 | 351 |
2018-03-01 | $274,950 (10.2%) | $367,858 (18.5%) | 0.96 | 346 |
2018-04-01 | $269,724 (7.9%) | $381,518 (21.3%) | 0.91 | 335 |
2018-05-01 | $276,438 (10.6%) | $381,832 (17.9%) | 0.92 | 375 |
2018-06-01 | $274,950 (10.3%) | $380,131 (18.9%) | 0.92 | 352 |
2018-07-01 | $267,000 (6.8%) | $373,582 (14.1%) | 0.89 | 344 |
2018-08-01 | $269,000 (2.1%) | $391,037 (17.5%) | 0.90 | 342 |
2018-09-01 | $259,800 (-3.0%) | $366,910 (8.8%) | 0.87 | 349 |
2018-10-01 | $258,350 (-5.1%) | $373,714 (8.8%) | 0.88 | 354 |
2018-11-01 | $263,000 (-2.6%) | $366,705 (5.8%) | 0.89 | 371 |
2018-12-01 | $274,500 (5.6%) | $375,728 (12.4%) | 0.95 | 404 |
2019-01-01 | $267,624 (2.0%) | $359,391 (4.9%) | 0.92 | 406 |
2019-02-01 | $260,574 (0.3%) | $351,510 (0.4%) | 0.88 | 405 |
2019-03-01 | $260,708 (-5.2%) | $349,358 (-5.0%) | 0.85 | 395 |
2019-04-01 | $260,080 (-3.6%) | $347,421 (-8.9%) | 0.83 | 398 |
2019-05-01 | $269,575 (-2.5%) | $346,906 (-9.2%) | 0.84 | 375 |
2019-06-01 | $270,000 (-1.8%) | $350,355 (-7.8%) | 0.84 | 352 |
2019-07-01 | $272,450 (2.0%) | $322,387 (-13.7%) | 0.85 | 322 |
2019-08-01 | $277,609 (3.2%) | $322,227 (-17.6%) | 0.88 | 321 |
2019-09-01 | $284,523 (9.5%) | $328,185 (-10.6%) | 0.91 | 306 |
2019-10-01 | $289,132 (11.9%) | $332,987 (-10.9%) | 0.93 | 298 |
2019-11-01 | $289,900 (10.2%) | $348,575 (-4.9%) | 0.95 | 307 |
2019-12-01 | $289,900 (5.6%) | $336,898 (-10.3%) | 0.97 | 307 |
2020-01-01 | $293,125 (9.5%) | $344,111 (-4.3%) | 0.98 | 344 |
2020-02-01 | $299,700 (15.0%) | $348,589 (-0.8%) | 0.98 | 369 |
2020-03-01 | $299,950 (15.1%) | $351,248 (0.5%) | 0.94 | 384 |
2020-04-01 | $297,000 (14.2%) | $351,218 (1.1%) | 0.93 | 428 |
2020-05-01 | $295,000 (9.4%) | $345,938 (-0.3%) | 0.90 | 434 |
2020-06-01 | $296,950 (10.0%) | $347,885 (-0.7%) | 0.87 | 440 |
2020-07-01 | $289,900 (6.4%) | $345,464 (7.2%) | 0.84 | 458 |
2020-08-01 | $299,900 (8.0%) | $361,028 (12.0%) | 0.86 | 456 |
2020-09-01 | $304,175 (6.9%) | $366,516 (11.7%) | 0.87 | 448 |
2020-10-01 | $299,124 (3.5%) | $364,276 (9.4%) | 0.86 | 473 |
2020-11-01 | $294,900 (1.7%) | $358,737 (2.9%) | 0.86 | 464 |
2020-12-01 | $289,410 (-0.2%) | $348,952 (3.6%) | 0.86 | 437 |
2021-01-01 | $298,900 (2.0%) | $352,201 (2.4%) | 0.89 | 382 |
2021-02-01 | $299,900 (0.1%) | $356,323 (2.2%) | 0.87 | 301 |
2021-03-01 | $307,950 (2.7%) | $373,571 (6.4%) | 0.87 | 254 |
2021-04-01 | $314,675 (6.0%) | $376,834 (7.3%) | 0.85 | 205 |
2021-05-01 | $335,000 (13.6%) | $410,343 (18.6%) | 0.89 | 161 |
2021-06-01 | $339,450 (14.3%) | $460,848 (32.5%) | 0.89 | 126 |
2021-07-01 | $360,000 (24.2%) | $449,490 (30.1%) | 0.95 | 142 |
2021-08-01 | $362,475 (20.9%) | $469,082 (29.9%) | 0.97 | 155 |
2021-09-01 | $361,225 (18.8%) | $488,773 (33.4%) | 0.96 | 165 |
2021-10-01 | $359,900 (20.3%) | $478,679 (31.4%) | 0.96 | 177 |
2021-11-01 | $364,413 (23.6%) | $501,242 (39.7%) | 0.97 | 152 |
2021-12-01 | $383,725 (32.6%) | $504,945 (44.7%) | 1.04 | 154 |
2022-01-01 | $395,000 (32.2%) | $501,757 (42.5%) | 1.07 | 140 |
2022-02-01 | $410,000 (36.7%) | $505,831 (42.0%) | 1.07 | 141 |
2022-03-01 | $429,975 (39.6%) | $541,056 (44.8%) | 1.08 | 165 |
2022-04-01 | $429,900 (36.6%) | $547,594 (45.3%) | 1.02 | 174 |
2022-05-01 | $419,950 (25.4%) | $532,557 (29.8%) | 0.96 | 209 |
2022-06-01 | $424,925 (25.2%) | $509,924 (10.7%) | 0.95 | 271 |
2022-07-01 | $424,900 (18.0%) | $507,957 (13.0%) | 0.96 | 318 |
2022-08-01 | $416,950 (15.0%) | $503,175 (7.3%) | 0.96 | 320 |
2022-09-01 | $419,450 (16.1%) | $506,342 (3.6%) | 0.98 | 336 |
2022-10-01 | $405,000 (12.5%) | $490,075 (2.4%) | 0.95 | 377 |
2022-11-01 | $405,100 (11.2%) | $488,305 (-2.6%) | 0.97 | 395 |
2022-12-01 | $410,000 (6.9%) | $488,736 (-3.2%) | 1.01 | 409 |
2023-01-01 | $421,000 (6.6%) | $492,003 (-1.9%) | 1.04 | 385 |
2023-02-01 | $419,950 (2.4%) | $485,598 (-4.0%) | 1.01 | 398 |
2023-03-01 | $419,950 (-2.3%) | $487,409 (-9.9%) | 0.99 | 399 |
2023-04-01 | $399,900 (-7.0%) | $467,900 (-14.6%) | 0.93 | 416 |
2023-05-01 | $399,375 (-4.9%) | $468,402 (-12.1%) | 0.91 | 414 |
2023-06-01 | $397,450 (-6.5%) | $470,274 (-7.8%) | 0.89 | 427 |
2023-07-01 | $399,900 (-5.9%) | $470,940 (-7.3%) | 0.91 | 402 |
2023-08-01 | $401,192 (-3.8%) | $484,568 (-3.7%) | 0.92 | 384 |
2023-09-01 | $398,950 (-4.9%) | $487,086 (-3.8%) | 0.93 | 367 |
2023-10-01 | $399,900 (-1.3%) | $491,546 (0.3%) | 0.94 | 393 |
2023-11-01 | $396,163 (-2.2%) | $478,541 (-2.0%) | 0.94 | 429 |
2023-12-01 | $390,000 (-4.9%) | $480,981 (-1.6%) | 0.95 | 436 |
2024-01-01 | $393,125 (-6.6%) | $480,204 (-2.4%) | 0.96 | 481 |
2024-02-01 | $392,000 (-6.7%) | $481,281 (-0.9%) | 0.94 | 466 |
2024-03-01 | $379,900 (-9.5%) | $471,553 (-3.3%) | 0.89 | 455 |
2024-04-01 | $385,800 (-3.5%) | $464,394 (-0.8%) | 0.90 | 484 |
2024-05-01 | $382,000 (-4.4%) | $462,835 (-1.2%) | 0.86 | 541 |
2024-06-01 | $374,374 (-5.8%) | $451,288 (-4.0%) | 0.84 | 563 |
2024-07-01 | $377,000 (-5.7%) | $441,958 (-6.2%) | 0.86 | 583 |
2024-08-01 | $374,800 (-6.6%) | $436,788 (-9.9%) | 0.87 | 615 |
2024-09-01 | $375,448 (-5.9%) | $445,098 (-8.6%) | 0.00 | 645 |
The Villages's median listing price comes in at 0% of the national average.
The Villages's average listing price for 2024-09-01 was $445,098, a difference of $-41,988 (-8.6%) versus the prior year and $8,310 versus the prior month.
For the 2024-09-01 period, The Villages had 645 MLS listings, a difference of 30 listings (5%) versus the prior month and 278 listings (76%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - The Villages (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 69 days | 1,712 sqft |
2018-02-01 | 63 days | 1,756 sqft |
2018-03-01 | 52 days | 1,857 sqft |
2018-04-01 | 56 days | 1,826 sqft |
2018-05-01 | 52 days | 1,846 sqft |
2018-06-01 | 58 days | 1,806 sqft |
2018-07-01 | 67 days | 1,775 sqft |
2018-08-01 | 66 days | 1,768 sqft |
2018-09-01 | 60 days | 1,672 sqft |
2018-10-01 | 59 days | 1,672 sqft |
2018-11-01 | 67 days | 1,726 sqft |
2018-12-01 | 65 days | 1,795 sqft |
2019-01-01 | 68 days | 1,795 sqft |
2019-02-01 | 66 days | 1,740 sqft |
2019-03-01 | 59 days | 1,762 sqft |
2019-04-01 | 62 days | 1,684 sqft |
2019-05-01 | 67 days | 1,653 sqft |
2019-06-01 | 65 days | 1,648 sqft |
2019-07-01 | 57 days | 1,624 sqft |
2019-08-01 | 58 days | 1,645 sqft |
2019-09-01 | 61 days | 1,677 sqft |
2019-10-01 | 64 days | 1,698 sqft |
2019-11-01 | 53 days | 1,657 sqft |
2019-12-01 | 57 days | 1,652 sqft |
2020-01-01 | 55 days | 1,673 sqft |
2020-02-01 | 49 days | 1,656 sqft |
2020-03-01 | 47 days | 1,728 sqft |
2020-04-01 | 53 days | 1,725 sqft |
2020-05-01 | 60 days | 1,685 sqft |
2020-06-01 | 67 days | 1,673 sqft |
2020-07-01 | 57 days | 1,673 sqft |
2020-08-01 | 53 days | 1,736 sqft |
2020-09-01 | 52 days | 1,757 sqft |
2020-10-01 | 53 days | 1,715 sqft |
2020-11-01 | 48 days | 1,673 sqft |
2020-12-01 | 53 days | 1,661 sqft |
2021-01-01 | 63 days | 1,673 sqft |
2021-02-01 | 51 days | 1,673 sqft |
2021-03-01 | 44 days | 1,649 sqft |
2021-04-01 | 42 days | 1,641 sqft |
2021-05-01 | 36 days | 1,673 sqft |
2021-06-01 | 36 days | 1,718 sqft |
2021-07-01 | 41 days | 1,760 sqft |
2021-08-01 | 40 days | 1,739 sqft |
2021-09-01 | 41 days | 1,742 sqft |
2021-10-01 | 39 days | 1,742 sqft |
2021-11-01 | 40 days | 1,751 sqft |
2021-12-01 | 57 days | 1,746 sqft |
2022-01-01 | 50 days | 1,736 sqft |
2022-02-01 | 35 days | 1,780 sqft |
2022-03-01 | 33 days | 1,748 sqft |
2022-04-01 | 33 days | 1,692 sqft |
2022-05-01 | 30 days | 1,690 sqft |
2022-06-01 | 30 days | 1,670 sqft |
2022-07-01 | 37 days | 1,628 sqft |
2022-08-01 | 41 days | 1,613 sqft |
2022-09-01 | 49 days | 1,656 sqft |
2022-10-01 | 52 days | 1,624 sqft |
2022-11-01 | 56 days | 1,670 sqft |
2022-12-01 | 60 days | 1,639 sqft |
2023-01-01 | 66 days | 1,642 sqft |
2023-02-01 | 64 days | 1,608 sqft |
2023-03-01 | 46 days | 1,646 sqft |
2023-04-01 | 45 days | 1,626 sqft |
2023-05-01 | 43 days | 1,606 sqft |
2023-06-01 | 44 days | 1,618 sqft |
2023-07-01 | 54 days | 1,641 sqft |
2023-08-01 | 62 days | 1,644 sqft |
2023-09-01 | 61 days | 1,641 sqft |
2023-10-01 | 56 days | 1,610 sqft |
2023-11-01 | 49 days | 1,559 sqft |
2023-12-01 | 56 days | 1,559 sqft |
2024-01-01 | 60 days | 1,582 sqft |
2024-02-01 | 55 days | 1,607 sqft |
2024-03-01 | 53 days | 1,560 sqft |
2024-04-01 | 50 days | 1,576 sqft |
2024-05-01 | 43 days | 1,540 sqft |
2024-06-01 | 50 days | 1,538 sqft |
2024-07-01 | 59 days | 1,554 sqft |
2024-08-01 | 58 days | 1,561 sqft |
2024-09-01 | 0 days | 1,563 sqft |
The Villages's median square footage for active listings during the 2024-09-01 period was 1,563 sqft. One year prior, the average listing was 1,641 sqft.