Tupelo FHA Loan Rates, Closing Costs & Stats

Tupelo, MS

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    • 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.

    Tupelo's 58 lenders originated 535 FHA loans during 2024. The total origination value was $103,565,000, with an average FHA loan value of $193,579.

    Tupelo FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Tupelo averaged 6.34% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Tupelo's average FHA mortgage closing costs are $6,694.

    The average rate for the prior week (2025-03-28) was 6.24% and one month ago for the week of 2025-02-28, the average rate was 6.63%.

    The average rate one year ago was 6.64%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.41%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Tupelo 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 Tupelo level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Flagstar Bank, FSB 78 6.12% $9,503
    Renasant Bank 49 6.54% $8,525
    BancorpSouth 36 6.33% $6,819
    QUICKEN LOANS, LLC 34 6.34% $8,464
    STOCKTON MORTGAGE CORPORATION 33 6.34% $8,955
    CROSSCOUNTRY MORTGAGE, LLC 21 6.66% $8,857
    BankPlus 17 6.13% $5,899
    Bank of England 15 6.34% $9,673
    CARDINAL FINANCIAL 14 6.12% $11,959
    Trustmark National Bank 13 6.34% $7,318
    Regions Bank 11 6.40% $7,386
    UNITED WHOLESALE MORTGAGE, LLC 9 6.23% $10,773
    GENEVA FINANCIAL, LLC 9 6.57% $10,449
    GMFS LLC 8 6.89% $7,443
    PENNYMAC LOAN SERVICES, LLC 8 6.27% $10,686
    LOANDEPOT.COM, LLC 7 6.66% $10,052
    Equity Prime Mortgage LLC 7 6.46% $11,007
    FREEDOM MORTGAGE CORPORATION 7 6.50% $9,939
    AMERICAN FINANCIAL RESOURCES, INC. 6 6.25% $6,456
    BROKER SOLUTIONS, INC. 6 7.33% $8,885
    COMMUNITY MORTGAGE CORPORATION 6 6.46% $9,292
    GUILD MORTGAGE COMPANY 6 6.46% $8,429
    Paramount Residential Mortgage Group, Inc. 5 5.97% $11,264
    Nations Lending Corporation 5 6.69% $4,228
    FIRST COMMUNITY MORTGAGE, INC. 5 6.47% $7,927
    Community Bank of Mississippi 4 6.07% $6,866
    Magnolia Bank 3 6.54% $12,567
    MORTGAGE INVESTORS GROUP, INC. 3 6.75% $8,342
    FBC MORTGAGE, LLC 3 6.58% $9,089
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.25% $9,502
    PLAZA HOME MORTGAGE, INC. 3 6.46% $9,257
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.38% $9,126
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.00% $11,487
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.94% $11,801
    CHURCHILL MORTGAGE CORPORATION 2 6.44% $10,591
    AMERISAVE MORTGAGE CORPORATION 2 6.31% $9,797
    Meridian Bank Corporation 1 6.50% $5,516
    AMERICAN FINANCING CORPORATION 1 6.25% $7,913
    Mortgage Research Center, LLC 1 7.75% $3,894
    TOWNE MORTGAGE COMPANY 1 6.00% $6,275
    Mr. Cooper ( Nationstar Mortgage ) 1 7.50% $9,356
    FirstBank 1 5.63% $12,024
    COMMUNITYAMERICA 1 6.63% $6,447
    NEXERA HOLDING LLC 1 6.25% $10,423
    DATA MORTGAGE, INC. 1 6.00% $15,286
    UNION HOME MORTGAGE CORP. 1 6.63% $6,602
    Pinnacle Bank 1 6.25% $8,290
    Evolve Bank & Trust 1 6.25% $15,501
    Carrington Mortgage Services, LLC 1 5.38% $17,845
    Barrington Bank & Trust Company, N.A. 1 6.49% $9,826
    AXIA FINANCIAL, LLC 1 7.25% $3,533
    First Federal Bank 1 6.13% $12,409
    The Central Trust Bank 1 6.25% $7,880
    The Citizens National Bank of Meridian 1 5.63% $6,345
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.25% $7,174
    LIBERTY HOME MORTGAGE CORPORATION 1 7.38% $8,003
    CMG MORTGAGE, INC. 1 5.99% $8,248
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $6,949

    The top Tupelo FHA lender as defined by loan originations is Flagstar Bank, FSB, with 78 FHA loans originated. Their average total fees are $9,503, which is $979 higher than the next largest lender, Renasant Bank.

    The lowest fee Tupelo FHA lenders (with over 10 loans originated) are BankPlus ($5,899), BancorpSouth ($6,819), Trustmark National Bank ($7,318), Regions Bank ($7,386) and QUICKEN LOANS, LLC ($8,464).

    The lowest rate Tupelo FHA lenders (with over 10 loans originated) are Flagstar Bank, FSB (6.12%), CARDINAL FINANCIAL (6.12%), BankPlus (6.13%), BancorpSouth (6.33%) and Trustmark National Bank (6.34%).

    Tupelo FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    TUPELO, MS ITAWAMBA 2022 $420,680 $538,650 $651,050 $809,150
    TUPELO, MS LEE 2022 $420,680 $538,650 $651,050 $809,150
    TUPELO, MS PONTOTOC 2022 $420,680 $538,650 $651,050 $809,150
    TUPELO, MS PRENTISS 2022 $420,680 $538,650 $651,050 $809,150
    TUPELO, MS ITAWAMBA 2023 $472,030 $604,400 $730,525 $907,900
    TUPELO, MS LEE 2023 $472,030 $604,400 $730,525 $907,900
    TUPELO, MS PONTOTOC 2023 $472,030 $604,400 $730,525 $907,900
    TUPELO, MS PRENTISS 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Tupelo (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 $174,350 (14.0%) $208,792 (4.8%) 0.61 489
    2018-02-01 $175,000 (16.7%) $212,990 (6.0%) 0.63 490
    2018-03-01 $174,900 (12.9%) $209,931 (2.4%) 0.61 506
    2018-04-01 $177,000 (7.3%) $211,675 (0.2%) 0.60 545
    2018-05-01 $178,788 (8.4%) $213,331 (2.8%) 0.60 543
    2018-06-01 $174,950 (6.0%) $213,055 (0.9%) 0.58 551
    2018-07-01 $176,625 (7.1%) $217,140 (1.7%) 0.60 558
    2018-08-01 $178,050 (11.4%) $219,110 (5.2%) 0.60 551
    2018-09-01 $176,000 (10.1%) $227,407 (13.0%) 0.60 531
    2018-10-01 $174,950 (8.7%) $227,227 (13.2%) 0.59 493
    2018-11-01 $174,950 (3.6%) $227,080 (10.0%) 0.59 475
    2018-12-01 $174,950 (3.0%) $226,504 (9.8%) 0.60 443
    2019-01-01 $173,325 (-0.6%) $227,355 (8.9%) 0.60 435
    2019-02-01 $175,975 (0.6%) $230,439 (8.2%) 0.60 436
    2019-03-01 $188,357 (7.7%) $240,445 (14.5%) 0.62 441
    2019-04-01 $199,900 (12.9%) $248,179 (17.3%) 0.64 446
    2019-05-01 $199,800 (11.8%) $243,223 (14.0%) 0.64 461
    2019-06-01 $197,500 (12.9%) $248,708 (16.7%) 0.62 455
    2019-07-01 $197,225 (11.7%) $247,364 (13.9%) 0.62 467
    2019-08-01 $196,727 (10.5%) $243,901 (11.3%) 0.62 458
    2019-09-01 $195,193 (10.9%) $238,720 (5.0%) 0.62 450
    2019-10-01 $194,620 (11.2%) $236,611 (4.1%) 0.61 438
    2019-11-01 $189,900 (8.6%) $233,022 (2.6%) 0.62 418
    2019-12-01 $188,925 (8.0%) $229,478 (1.3%) 0.62 399
    2020-01-01 $185,000 (6.7%) $228,873 (0.7%) 0.61 386
    2020-02-01 $184,000 (4.6%) $227,193 (-1.4%) 0.60 400
    2020-03-01 $185,000 (-1.8%) $235,361 (-2.1%) 0.59 389
    2020-04-01 $190,025 (-4.9%) $242,979 (-2.1%) 0.60 377
    2020-05-01 $189,900 (-5.0%) $246,891 (1.5%) 0.58 348
    2020-06-01 $199,575 (1.1%) $261,494 (5.1%) 0.59 315
    2020-07-01 $217,225 (10.1%) $271,331 (9.7%) 0.62 298
    2020-08-01 $210,500 (7.0%) $265,576 (8.9%) 0.61 281
    2020-09-01 $197,950 (1.4%) $264,759 (10.9%) 0.60 266
    2020-10-01 $209,900 (7.9%) $269,090 (13.7%) 0.62 251
    2020-11-01 $218,000 (14.8%) $276,589 (18.7%) 0.64 243
    2020-12-01 $219,000 (15.9%) $282,043 (22.9%) 0.65 239
    2021-01-01 $212,450 (14.8%) $277,647 (21.3%) 0.63 216
    2021-02-01 $205,975 (11.9%) $266,831 (17.5%) 0.61 199
    2021-03-01 $227,250 (22.8%) $270,625 (15.0%) 0.64 188
    2021-04-01 $224,950 (18.4%) $275,251 (13.3%) 0.60 161
    2021-05-01 $199,900 (5.3%) $269,264 (9.1%) 0.53 169
    2021-06-01 $223,450 (12.0%) $286,152 (9.4%) 0.59 188
    2021-07-01 $219,900 (1.2%) $281,229 (3.7%) 0.58 201
    2021-08-01 $219,900 (4.5%) $294,911 (11.1%) 0.59 207
    2021-09-01 $219,900 (11.1%) $297,826 (12.5%) 0.61 207
    2021-10-01 $232,000 (10.5%) $304,798 (13.3%) 0.62 231
    2021-11-01 $243,363 (11.6%) $312,096 (12.8%) 0.64 216
    2021-12-01 $244,663 (11.7%) $303,344 (7.6%) 0.65 206
    2022-01-01 $240,000 (13.0%) $288,893 (4.1%) 0.64 180
    2022-02-01 $234,450 (13.8%) $287,557 (7.8%) 0.62 154
    2022-03-01 $241,200 (6.1%) $288,379 (6.6%) 0.61 153
    2022-04-01 $240,000 (6.7%) $285,622 (3.8%) 0.60 153
    2022-05-01 $237,425 (18.8%) $287,083 (6.6%) 0.55 182
    2022-06-01 $243,450 (9.0%) $282,505 (-1.3%) 0.56 211
    2022-07-01 $249,900 (13.6%) $289,665 (3.0%) 0.56 239
    2022-08-01 $259,900 (18.2%) $300,045 (1.7%) 0.58 270
    2022-09-01 $250,975 (14.1%) $294,839 (-1.0%) 0.58 290
    2022-10-01 $256,000 (10.3%) $295,977 (-2.9%) 0.59 309
    2022-11-01 $250,000 (2.7%) $291,661 (-6.6%) 0.60 308
    2022-12-01 $249,450 (2.0%) $291,434 (-3.9%) 0.62 284
    2023-01-01 $257,000 (7.1%) $296,437 (2.6%) 0.64 246
    2023-02-01 $260,450 (11.1%) $305,758 (6.3%) 0.63 223
    2023-03-01 $263,750 (9.4%) $306,552 (6.3%) 0.62 220
    2023-04-01 $262,250 (9.3%) $307,721 (7.7%) 0.60 230
    2023-05-01 $274,950 (15.8%) $318,687 (11.0%) 0.62 234
    2023-06-01 $272,625 (12.0%) $326,031 (15.4%) 0.61 246
    2023-07-01 $267,450 (7.0%) $317,324 (9.6%) 0.62 242
    2023-08-01 $259,950 (0.0%) $319,126 (6.4%) 0.60 262
    2023-09-01 $255,950 (2.0%) $303,881 (3.1%) 0.59 284
    2023-10-01 $249,600 (-2.5%) $298,598 (0.9%) 0.59 302
    2023-11-01 $252,475 (1.0%) $305,055 (4.6%) 0.60 322
    2023-12-01 $250,000 (0.2%) $308,204 (5.8%) 0.61 320
    2024-01-01 $257,250 (0.1%) $311,934 (5.2%) 0.63 297
    2024-02-01 $262,500 (0.8%) $313,222 (2.4%) 0.63 285
    2024-03-01 $265,000 (0.5%) $316,781 (3.3%) 0.62 287
    2024-04-01 $279,950 (6.8%) $327,184 (6.3%) 0.65 268
    2024-05-01 $275,850 (0.3%) $322,904 (1.3%) 0.64 295
    2024-06-01 $274,900 (0.8%) $312,065 (-4.3%) 0.62 285
    2024-07-01 $265,200 (-0.8%) $311,995 (-1.7%) 0.61 285
    2024-08-01 $255,950 (-1.5%) $298,124 (-6.6%) 0.60 311
    2024-09-01 $264,000 (3.2%) $301,508 (-0.8%) 0.62 335
    2024-10-01 $265,375 (6.3%) $316,678 (6.1%) 0.63 343
    2024-11-01 $263,750 (4.5%) $319,391 (4.7%) 0.64 361
    2024-12-01 $262,500 (5.0%) $311,287 (1.0%) 0.67 353
    2025-01-01 $267,000 (3.8%) $314,090 (0.7%) 0.00 333
    2025-02-01 $264,950 (0.9%) $316,765 (1.1%) 0.00 318
    2025-03-01 $255,000 (-3.8%) $311,362 (-1.7%) 0.00 312
    Tupelo's median listing price for 2025-03-01 was $255,000, a difference of $-10,000 (-3.8%) versus the prior year and $-9,950 versus the prior month.

    Tupelo's median listing price comes in at 0% of the national average.

    Tupelo's average listing price for 2025-03-01 was $311,362, a difference of $-5,419 (-1.7%) versus the prior year and $-5,403 versus the prior month.

    For the 2025-03-01 period, Tupelo had 312 MLS listings, a difference of -6 listings (-2%) versus the prior month and 25 listings (9%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Tupelo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 92 days 2,047 sqft
    2018-02-01 86 days 2,074 sqft
    2018-03-01 68 days 2,044 sqft
    2018-04-01 68 days 2,099 sqft
    2018-05-01 72 days 2,104 sqft
    2018-06-01 74 days 2,047 sqft
    2018-07-01 80 days 2,100 sqft
    2018-08-01 81 days 2,104 sqft
    2018-09-01 81 days 2,100 sqft
    2018-10-01 88 days 2,093 sqft
    2018-11-01 87 days 2,104 sqft
    2018-12-01 95 days 2,094 sqft
    2019-01-01 100 days 2,144 sqft
    2019-02-01 86 days 2,147 sqft
    2019-03-01 76 days 2,176 sqft
    2019-04-01 72 days 2,217 sqft
    2019-05-01 66 days 2,204 sqft
    2019-06-01 68 days 2,204 sqft
    2019-07-01 77 days 2,203 sqft
    2019-08-01 76 days 2,195 sqft
    2019-09-01 71 days 2,181 sqft
    2019-10-01 71 days 2,172 sqft
    2019-11-01 81 days 2,163 sqft
    2019-12-01 90 days 2,122 sqft
    2020-01-01 100 days 2,080 sqft
    2020-02-01 93 days 2,050 sqft
    2020-03-01 85 days 2,067 sqft
    2020-04-01 85 days 2,091 sqft
    2020-05-01 92 days 2,157 sqft
    2020-06-01 90 days 2,204 sqft
    2020-07-01 86 days 2,255 sqft
    2020-08-01 68 days 2,179 sqft
    2020-09-01 60 days 2,173 sqft
    2020-10-01 66 days 2,222 sqft
    2020-11-01 65 days 2,296 sqft
    2020-12-01 72 days 2,292 sqft
    2021-01-01 83 days 2,270 sqft
    2021-02-01 75 days 2,148 sqft
    2021-03-01 52 days 2,149 sqft
    2021-04-01 46 days 2,145 sqft
    2021-05-01 43 days 2,094 sqft
    2021-06-01 37 days 2,140 sqft
    2021-07-01 45 days 2,135 sqft
    2021-08-01 46 days 2,145 sqft
    2021-09-01 55 days 2,136 sqft
    2021-10-01 61 days 2,145 sqft
    2021-11-01 59 days 2,143 sqft
    2021-12-01 71 days 2,145 sqft
    2022-01-01 80 days 2,145 sqft
    2022-02-01 70 days 2,145 sqft
    2022-03-01 46 days 2,117 sqft
    2022-04-01 39 days 2,122 sqft
    2022-05-01 41 days 2,056 sqft
    2022-06-01 40 days 2,055 sqft
    2022-07-01 41 days 2,100 sqft
    2022-08-01 49 days 2,115 sqft
    2022-09-01 55 days 2,102 sqft
    2022-10-01 66 days 2,145 sqft
    2022-11-01 77 days 2,159 sqft
    2022-12-01 87 days 2,111 sqft
    2023-01-01 85 days 2,146 sqft
    2023-02-01 78 days 2,090 sqft
    2023-03-01 67 days 2,156 sqft
    2023-04-01 60 days 2,142 sqft
    2023-05-01 52 days 2,203 sqft
    2023-06-01 47 days 2,173 sqft
    2023-07-01 53 days 2,052 sqft
    2023-08-01 58 days 2,083 sqft
    2023-09-01 60 days 2,045 sqft
    2023-10-01 59 days 2,001 sqft
    2023-11-01 53 days 1,977 sqft
    2023-12-01 65 days 1,980 sqft
    2024-01-01 77 days 2,003 sqft
    2024-02-01 89 days 2,034 sqft
    2024-03-01 68 days 2,062 sqft
    2024-04-01 61 days 2,210 sqft
    2024-05-01 53 days 2,152 sqft
    2024-06-01 57 days 2,096 sqft
    2024-07-01 60 days 2,060 sqft
    2024-08-01 59 days 1,982 sqft
    2024-09-01 60 days 1,989 sqft
    2024-10-01 64 days 1,992 sqft
    2024-11-01 67 days 2,000 sqft
    2024-12-01 73 days 1,984 sqft
    2025-01-01 0 days 1,988 sqft
    2025-02-01 0 days 2,048 sqft
    2025-03-01 0 days 1,970 sqft
    Tupelo's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Tupelo's median square footage for active listings during the 2025-03-01 period was 1,970 sqft. One year prior, the average listing was 2,062 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).