Tupelo FHA Loan Rates, Closing Costs & Stats
Tupelo, MS
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 49 lenders originated 467 FHA loans during 2023. The total origination value was $86,365,000, with an average FHA loan value of $184,936.
Tupelo FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Tupelo
averaged
-0.08%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Tupelo's average FHA mortgage closing costs are $6,369.
The average rate for the prior week (2024-11-22) was
6.41% and
one month ago for the week of 2024-10-25, the
average rate was 6.39%.
The average rate one year ago was 6.88%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.22%.
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.
The top Tupelo FHA lender as defined by loan originations is Flagstar Bank, FSB, with
82 FHA loans originated. Their average total fees are
$9,838, which is $1,453
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Tupelo FHA lenders (with over 10 loans originated) are
BankPlus ($4,053), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,045), Renasant Bank ($6,858), BancorpSouth ($7,356) and Bank of England ($7,385).
The lowest rate Tupelo FHA lenders (with over 10 loans originated) are
Flagstar Bank, FSB (6.20%), Bank of England (6.22%), Trustmark National Bank (6.23%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.24%) and QUICKEN LOANS, LLC (6.35%).
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $165,000 (8.0%) | $204,557 (2.7%) | 0.61 | 542 |
2018-02-01 | $172,500 (15.1%) | $209,031 (3.4%) | 0.63 | 541 |
2018-03-01 | $173,900 (11.9%) | $208,152 (0.6%) | 0.61 | 554 |
2018-04-01 | $178,212 (8.7%) | $210,885 (0.4%) | 0.60 | 590 |
2018-05-01 | $178,788 (10.0%) | $211,648 (2.7%) | 0.60 | 586 |
2018-06-01 | $175,000 (6.1%) | $212,484 (1.8%) | 0.58 | 597 |
2018-07-01 | $179,000 (8.5%) | $215,890 (2.3%) | 0.60 | 612 |
2018-08-01 | $179,250 (13.0%) | $218,899 (6.6%) | 0.60 | 598 |
2018-09-01 | $179,000 (12.2%) | $226,441 (13.3%) | 0.60 | 585 |
2018-10-01 | $175,475 (9.7%) | $224,943 (13.0%) | 0.59 | 548 |
2018-11-01 | $175,500 (8.6%) | $224,490 (10.3%) | 0.59 | 528 |
2018-12-01 | $175,000 (6.4%) | $223,387 (9.8%) | 0.60 | 496 |
2019-01-01 | $175,000 (6.1%) | $225,532 (10.3%) | 0.60 | 482 |
2019-02-01 | $177,800 (3.1%) | $228,004 (9.1%) | 0.60 | 484 |
2019-03-01 | $188,357 (8.3%) | $237,258 (14.0%) | 0.62 | 485 |
2019-04-01 | $200,950 (12.8%) | $246,554 (16.9%) | 0.64 | 481 |
2019-05-01 | $204,500 (14.4%) | $244,785 (15.7%) | 0.64 | 499 |
2019-06-01 | $199,900 (14.2%) | $249,725 (17.5%) | 0.62 | 497 |
2019-07-01 | $198,850 (11.1%) | $248,696 (15.2%) | 0.62 | 510 |
2019-08-01 | $197,027 (9.9%) | $245,069 (12.0%) | 0.62 | 505 |
2019-09-01 | $193,018 (7.8%) | $239,920 (6.0%) | 0.62 | 503 |
2019-10-01 | $189,900 (8.2%) | $237,814 (5.7%) | 0.61 | 495 |
2019-11-01 | $188,400 (7.4%) | $233,265 (3.9%) | 0.62 | 475 |
2019-12-01 | $184,900 (5.7%) | $229,142 (2.6%) | 0.62 | 462 |
2020-01-01 | $182,175 (4.1%) | $229,243 (1.7%) | 0.61 | 447 |
2020-02-01 | $182,500 (2.6%) | $227,977 (0.0%) | 0.60 | 463 |
2020-03-01 | $187,750 (-0.3%) | $236,568 (-0.3%) | 0.59 | 445 |
2020-04-01 | $189,950 (-5.5%) | $243,608 (-1.2%) | 0.60 | 425 |
2020-05-01 | $189,950 (-7.1%) | $246,282 (0.6%) | 0.58 | 389 |
2020-06-01 | $199,700 (-0.1%) | $260,814 (4.4%) | 0.59 | 353 |
2020-07-01 | $215,000 (8.1%) | $270,310 (8.7%) | 0.62 | 339 |
2020-08-01 | $212,000 (7.6%) | $269,191 (9.8%) | 0.61 | 322 |
2020-09-01 | $209,000 (8.3%) | $269,700 (12.4%) | 0.60 | 310 |
2020-10-01 | $215,000 (13.2%) | $277,019 (16.5%) | 0.62 | 287 |
2020-11-01 | $219,975 (16.8%) | $284,817 (22.1%) | 0.64 | 281 |
2020-12-01 | $219,225 (18.6%) | $289,261 (26.2%) | 0.65 | 282 |
2021-01-01 | $212,450 (16.6%) | $282,564 (23.3%) | 0.63 | 255 |
2021-02-01 | $210,450 (15.3%) | $270,233 (18.5%) | 0.61 | 235 |
2021-03-01 | $224,450 (19.6%) | $269,407 (13.9%) | 0.64 | 213 |
2021-04-01 | $223,425 (17.6%) | $281,700 (15.6%) | 0.60 | 188 |
2021-05-01 | $200,000 (5.3%) | $270,562 (9.9%) | 0.53 | 200 |
2021-06-01 | $225,725 (13.0%) | $286,807 (10.0%) | 0.59 | 218 |
2021-07-01 | $219,900 (2.3%) | $284,620 (5.3%) | 0.58 | 229 |
2021-08-01 | $222,450 (4.9%) | $294,621 (9.5%) | 0.59 | 241 |
2021-09-01 | $229,475 (9.8%) | $296,011 (9.8%) | 0.61 | 245 |
2021-10-01 | $232,000 (7.9%) | $302,595 (9.2%) | 0.62 | 274 |
2021-11-01 | $240,000 (9.1%) | $309,330 (8.6%) | 0.64 | 252 |
2021-12-01 | $238,363 (8.7%) | $299,525 (3.6%) | 0.65 | 241 |
2022-01-01 | $235,275 (10.7%) | $288,271 (2.0%) | 0.64 | 212 |
2022-02-01 | $237,400 (12.8%) | $292,366 (8.2%) | 0.62 | 178 |
2022-03-01 | $244,000 (8.7%) | $293,143 (8.8%) | 0.61 | 175 |
2022-04-01 | $249,900 (11.9%) | $296,327 (5.2%) | 0.60 | 182 |
2022-05-01 | $238,675 (19.3%) | $290,720 (7.5%) | 0.55 | 215 |
2022-06-01 | $249,900 (10.7%) | $286,200 (-0.2%) | 0.56 | 255 |
2022-07-01 | $249,900 (13.6%) | $288,507 (1.4%) | 0.56 | 292 |
2022-08-01 | $250,625 (12.7%) | $293,585 (-0.4%) | 0.58 | 328 |
2022-09-01 | $249,950 (8.9%) | $291,462 (-1.5%) | 0.58 | 344 |
2022-10-01 | $250,000 (7.8%) | $291,456 (-3.7%) | 0.59 | 360 |
2022-11-01 | $250,000 (4.2%) | $288,879 (-6.6%) | 0.60 | 355 |
2022-12-01 | $249,450 (4.7%) | $290,129 (-3.1%) | 0.62 | 323 |
2023-01-01 | $257,000 (9.2%) | $296,772 (3.0%) | 0.64 | 280 |
2023-02-01 | $259,950 (9.5%) | $306,204 (4.7%) | 0.63 | 267 |
2023-03-01 | $264,975 (8.6%) | $308,299 (5.2%) | 0.62 | 257 |
2023-04-01 | $259,900 (4.0%) | $309,036 (4.3%) | 0.60 | 267 |
2023-05-01 | $275,000 (15.2%) | $320,325 (10.2%) | 0.62 | 268 |
2023-06-01 | $273,575 (9.5%) | $327,616 (14.5%) | 0.61 | 285 |
2023-07-01 | $272,000 (8.8%) | $320,343 (11.0%) | 0.62 | 281 |
2023-08-01 | $259,950 (3.7%) | $317,516 (8.2%) | 0.60 | 297 |
2023-09-01 | $254,950 (2.0%) | $302,976 (4.0%) | 0.59 | 323 |
2023-10-01 | $249,575 (-0.2%) | $297,326 (2.0%) | 0.59 | 339 |
2023-11-01 | $252,450 (1.0%) | $303,562 (5.1%) | 0.60 | 362 |
2023-12-01 | $249,999 (0.2%) | $302,366 (4.2%) | 0.61 | 356 |
2024-01-01 | $257,450 (0.2%) | $309,658 (4.3%) | 0.63 | 341 |
2024-02-01 | $262,400 (0.9%) | $309,560 (1.1%) | 0.63 | 330 |
2024-03-01 | $262,500 (-0.9%) | $314,424 (2.0%) | 0.62 | 328 |
2024-04-01 | $279,900 (7.7%) | $324,721 (5.1%) | 0.65 | 303 |
2024-05-01 | $281,725 (2.5%) | $328,315 (2.5%) | 0.64 | 333 |
2024-06-01 | $277,450 (1.4%) | $320,020 (-2.3%) | 0.62 | 323 |
2024-07-01 | $264,956 (-2.6%) | $310,967 (-2.9%) | 0.61 | 325 |
2024-08-01 | $257,475 (-1.0%) | $298,599 (-6.0%) | 0.60 | 354 |
2024-09-01 | $262,500 (3.0%) | $302,692 (-0.1%) | 0.62 | 381 |
2024-10-01 | $269,225 (7.9%) | $315,467 (6.1%) | 0.63 | 386 |
Tupelo's median listing price comes in at 63% of the national average.
Tupelo's average listing price for 2024-10-01 was $315,467, a difference of $18,141 (6.1%) versus the prior year and $12,775 versus the prior month.
For the 2024-10-01 period, Tupelo had 386 MLS listings, a difference of 5 listings (1%) versus the prior month and 47 listings (14%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Tupelo (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 92 days | 2,001 sqft |
2018-02-01 | 86 days | 2,058 sqft |
2018-03-01 | 68 days | 2,029 sqft |
2018-04-01 | 68 days | 2,099 sqft |
2018-05-01 | 72 days | 2,102 sqft |
2018-06-01 | 74 days | 2,047 sqft |
2018-07-01 | 80 days | 2,088 sqft |
2018-08-01 | 81 days | 2,101 sqft |
2018-09-01 | 81 days | 2,100 sqft |
2018-10-01 | 88 days | 2,081 sqft |
2018-11-01 | 87 days | 2,100 sqft |
2018-12-01 | 95 days | 2,090 sqft |
2019-01-01 | 100 days | 2,132 sqft |
2019-02-01 | 86 days | 2,136 sqft |
2019-03-01 | 76 days | 2,170 sqft |
2019-04-01 | 72 days | 2,228 sqft |
2019-05-01 | 66 days | 2,226 sqft |
2019-06-01 | 68 days | 2,230 sqft |
2019-07-01 | 77 days | 2,240 sqft |
2019-08-01 | 76 days | 2,218 sqft |
2019-09-01 | 71 days | 2,182 sqft |
2019-10-01 | 71 days | 2,166 sqft |
2019-11-01 | 81 days | 2,144 sqft |
2019-12-01 | 90 days | 2,101 sqft |
2020-01-01 | 100 days | 2,060 sqft |
2020-02-01 | 93 days | 2,029 sqft |
2020-03-01 | 85 days | 2,060 sqft |
2020-04-01 | 85 days | 2,091 sqft |
2020-05-01 | 92 days | 2,143 sqft |
2020-06-01 | 90 days | 2,199 sqft |
2020-07-01 | 86 days | 2,233 sqft |
2020-08-01 | 68 days | 2,183 sqft |
2020-09-01 | 60 days | 2,174 sqft |
2020-10-01 | 66 days | 2,253 sqft |
2020-11-01 | 65 days | 2,300 sqft |
2020-12-01 | 72 days | 2,288 sqft |
2021-01-01 | 83 days | 2,263 sqft |
2021-02-01 | 75 days | 2,148 sqft |
2021-03-01 | 52 days | 2,145 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 | 2,123 sqft |
2021-08-01 | 46 days | 2,145 sqft |
2021-09-01 | 55 days | 2,127 sqft |
2021-10-01 | 61 days | 2,145 sqft |
2021-11-01 | 59 days | 2,103 sqft |
2021-12-01 | 71 days | 2,123 sqft |
2022-01-01 | 80 days | 2,096 sqft |
2022-02-01 | 70 days | 2,140 sqft |
2022-03-01 | 46 days | 2,100 sqft |
2022-04-01 | 39 days | 2,112 sqft |
2022-05-01 | 41 days | 2,048 sqft |
2022-06-01 | 40 days | 2,036 sqft |
2022-07-01 | 41 days | 2,070 sqft |
2022-08-01 | 49 days | 2,064 sqft |
2022-09-01 | 55 days | 2,048 sqft |
2022-10-01 | 66 days | 2,082 sqft |
2022-11-01 | 77 days | 2,100 sqft |
2022-12-01 | 87 days | 2,090 sqft |
2023-01-01 | 85 days | 2,112 sqft |
2023-02-01 | 78 days | 2,098 sqft |
2023-03-01 | 67 days | 2,152 sqft |
2023-04-01 | 60 days | 2,150 sqft |
2023-05-01 | 52 days | 2,204 sqft |
2023-06-01 | 47 days | 2,190 sqft |
2023-07-01 | 53 days | 2,076 sqft |
2023-08-01 | 58 days | 2,102 sqft |
2023-09-01 | 60 days | 2,100 sqft |
2023-10-01 | 59 days | 2,010 sqft |
2023-11-01 | 53 days | 1,979 sqft |
2023-12-01 | 65 days | 1,956 sqft |
2024-01-01 | 77 days | 2,013 sqft |
2024-02-01 | 89 days | 2,029 sqft |
2024-03-01 | 68 days | 2,066 sqft |
2024-04-01 | 61 days | 2,200 sqft |
2024-05-01 | 53 days | 2,207 sqft |
2024-06-01 | 57 days | 2,124 sqft |
2024-07-01 | 60 days | 2,059 sqft |
2024-08-01 | 59 days | 1,988 sqft |
2024-09-01 | 60 days | 1,998 sqft |
2024-10-01 | 64 days | 2,000 sqft |
Tupelo's median square footage for active listings during the 2024-10-01 period was 2,000 sqft. One year prior, the average listing was 2,010 sqft.