Vicksburg FHA Loan Rates, Closing Costs & Stats
Vicksburg, 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.
Vicksburg's 23 lenders originated 101 FHA loans during 2023. The total origination value was $18,855,000, with an average FHA loan value of $186,683.
Vicksburg FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Vicksburg
averaged
-0.07%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Vicksburg's average FHA mortgage closing costs are $6,437.
The average rate for the prior week (2024-11-22) was
6.52% and
one month ago for the week of 2024-10-25, the
average rate was 6.1%.
The average rate one year ago was 7.19%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.2%.
Vicksburg 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 Vicksburg level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
BancorpSouth | 20 | 6.38% | $7,152 |
Trustmark National Bank | 15 | 6.63% | $7,516 |
QUICKEN LOANS, LLC | 12 | 6.07% | $8,728 |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 11 | 6.65% | $8,581 |
UNITED WHOLESALE MORTGAGE, LLC | 5 | 6.61% | $10,591 |
GMFS LLC | 4 | 6.94% | $5,113 |
NEWREZ LLC | 3 | 6.50% | $14,162 |
CORNERSTONE HOME LENDING, INC. | 3 | 6.46% | $6,633 |
FIDELITY BANK | 3 | 6.38% | $10,987 |
Mr. Cooper ( Nationstar Mortgage ) | 2 | 6.19% | $12,265 |
FREEDOM MORTGAGE CORPORATION | 2 | 6.25% | $14,042 |
OPEN MORTGAGE, LLC | 2 | 6.57% | $7,815 |
Origin Bank | 2 | 6.60% | $5,790 |
Carrington Mortgage Services, LLC | 2 | 6.63% | $8,058 |
Community Bank of Mississippi | 1 | 6.39% | $3,109 |
NEW DAY FINANCIAL, LLC | 1 | 7.99% | $7,509 |
Equity Prime Mortgage LLC | 1 | 6.50% | $16,258 |
Towne Bank | 1 | 6.25% | $8,034 |
BROKER SOLUTIONS, INC. | 1 | 6.25% | $9,911 |
Bank of England | 1 | 6.63% | $13,912 |
Flagstar Bank, FSB | 1 | 6.25% | $4,699 |
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | 1 | 6.75% | $5,296 |
LOANDEPOT.COM, LLC | 1 | 7.25% | $10,493 |
The top Vicksburg FHA lender as defined by loan originations is BancorpSouth, with
20 FHA loans originated. Their average total fees are
$7,152, which is $365
lower than the next largest lender,
Trustmark National Bank.
The lowest fee Vicksburg FHA lenders (with over 10 loans originated) are
BancorpSouth ($7,152), Trustmark National Bank ($7,516), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,581), QUICKEN LOANS, LLC ($8,728) and .
The lowest rate Vicksburg FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.07%), BancorpSouth (6.38%), Trustmark National Bank (6.63%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.65%) and .
Vicksburg FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
VICKSBURG, MS | WARREN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
VICKSBURG, MS | WARREN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Vicksburg (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 | $132,475 (-2.4%) | $167,763 (2.6%) | 0.00 | 221 |
2018-02-01 | $129,900 (-1.9%) | $167,138 (3.5%) | 0.00 | 220 |
2018-03-01 | $131,500 (-9.3%) | $169,082 (-1.7%) | 0.00 | 209 |
2018-04-01 | $134,000 (-7.3%) | $174,355 (1.5%) | 0.00 | 204 |
2018-05-01 | $129,900 (-7.2%) | $170,651 (-2.0%) | 0.00 | 214 |
2018-06-01 | $129,900 (-8.0%) | $175,078 (0.1%) | 0.00 | 214 |
2018-07-01 | $141,175 (-5.2%) | $182,431 (1.5%) | 0.00 | 216 |
2018-08-01 | $137,250 (-8.0%) | $178,927 (0.3%) | 0.00 | 211 |
2018-09-01 | $143,500 (-4.3%) | $180,256 (-1.2%) | 0.00 | 198 |
2018-10-01 | $147,000 (-1.6%) | $182,183 (0.6%) | 0.00 | 197 |
2018-11-01 | $144,950 (-2.7%) | $186,009 (2.1%) | 0.00 | 192 |
2018-12-01 | $151,250 (4.7%) | $189,423 (5.7%) | 0.00 | 180 |
2019-01-01 | $146,500 (10.6%) | $189,066 (12.7%) | 0.00 | 165 |
2019-02-01 | $154,200 (18.7%) | $188,799 (13.0%) | 0.00 | 155 |
2019-03-01 | $147,143 (11.9%) | $185,521 (9.7%) | 0.00 | 156 |
2019-04-01 | $149,643 (11.7%) | $186,885 (7.2%) | 0.00 | 155 |
2019-05-01 | $134,975 (3.9%) | $179,506 (5.2%) | 0.00 | 147 |
2019-06-01 | $131,500 (1.2%) | $176,427 (0.8%) | 0.00 | 147 |
2019-07-01 | $130,000 (-7.9%) | $168,267 (-7.8%) | 0.00 | 135 |
2019-08-01 | $130,272 (-5.1%) | $166,858 (-6.7%) | 0.00 | 133 |
2019-09-01 | $130,681 (-8.9%) | $171,671 (-4.8%) | 0.00 | 126 |
2019-10-01 | $133,500 (-9.2%) | $177,331 (-2.7%) | 0.00 | 125 |
2019-11-01 | $140,000 (-3.4%) | $193,768 (4.2%) | 0.00 | 123 |
2019-12-01 | $149,000 (-1.5%) | $197,185 (4.1%) | 0.00 | 125 |
2020-01-01 | $140,750 (-3.9%) | $188,808 (-0.1%) | 0.00 | 112 |
2020-02-01 | $150,000 (-2.7%) | $189,455 (0.4%) | 0.00 | 116 |
2020-03-01 | $159,950 (8.7%) | $197,921 (6.7%) | 0.00 | 119 |
2020-04-01 | $162,500 (8.6%) | $191,250 (2.3%) | 0.00 | 115 |
2020-05-01 | $154,500 (14.5%) | $193,765 (7.9%) | 0.00 | 109 |
2020-06-01 | $150,000 (14.1%) | $198,237 (12.4%) | 0.00 | 98 |
2020-07-01 | $159,450 (22.7%) | $202,861 (20.6%) | 0.00 | 93 |
2020-08-01 | $165,000 (26.7%) | $207,730 (24.5%) | 0.00 | 94 |
2020-09-01 | $173,450 (32.7%) | $227,647 (32.6%) | 0.00 | 95 |
2020-10-01 | $191,000 (43.1%) | $245,539 (38.5%) | 0.00 | 86 |
2020-11-01 | $185,000 (32.1%) | $237,069 (22.4%) | 0.00 | 90 |
2020-12-01 | $163,475 (9.7%) | $235,006 (19.2%) | 0.00 | 84 |
2021-01-01 | $159,250 (13.1%) | $213,167 (12.9%) | 0.00 | 72 |
2021-02-01 | $154,950 (3.3%) | $202,758 (7.0%) | 0.00 | 68 |
2021-03-01 | $149,638 (-6.5%) | $198,735 (0.4%) | 0.00 | 73 |
2021-04-01 | $143,475 (-11.7%) | $194,117 (1.5%) | 0.00 | 68 |
2021-05-01 | $167,500 (8.4%) | $210,536 (8.7%) | 0.00 | 67 |
2021-06-01 | $169,950 (13.3%) | $252,418 (27.3%) | 0.00 | 67 |
2021-07-01 | $150,000 (-5.9%) | $245,402 (21.0%) | 0.00 | 61 |
2021-08-01 | $152,500 (-7.6%) | $247,136 (19.0%) | 0.00 | 70 |
2021-09-01 | $159,000 (-8.3%) | $254,997 (12.0%) | 0.00 | 62 |
2021-10-01 | $139,450 (-27.0%) | $213,983 (-12.9%) | 0.00 | 64 |
2021-11-01 | $145,900 (-21.1%) | $228,776 (-3.5%) | 0.00 | 66 |
2021-12-01 | $139,975 (-14.4%) | $227,954 (-3.0%) | 0.00 | 65 |
2022-01-01 | $150,000 (-5.8%) | $219,374 (2.9%) | 0.00 | 62 |
2022-02-01 | $171,250 (10.5%) | $233,396 (15.1%) | 0.00 | 63 |
2022-03-01 | $167,500 (11.9%) | $229,715 (15.6%) | 0.00 | 62 |
2022-04-01 | $176,300 (22.9%) | $228,085 (17.5%) | 0.00 | 69 |
2022-05-01 | $220,000 (31.3%) | $265,771 (26.2%) | 0.00 | 73 |
2022-06-01 | $206,250 (21.4%) | $248,896 (-1.4%) | 0.00 | 85 |
2022-07-01 | $220,000 (46.7%) | $252,854 (3.0%) | 0.00 | 84 |
2022-08-01 | $200,000 (31.2%) | $257,469 (4.2%) | 0.00 | 84 |
2022-09-01 | $215,500 (35.5%) | $255,293 (0.1%) | 0.00 | 82 |
2022-10-01 | $195,000 (39.8%) | $226,395 (5.8%) | 0.00 | 80 |
2022-11-01 | $189,000 (29.5%) | $218,882 (-4.3%) | 0.00 | 87 |
2022-12-01 | $185,250 (32.4%) | $212,418 (-6.8%) | 0.00 | 85 |
2023-01-01 | $180,750 (20.5%) | $195,919 (-10.7%) | 0.00 | 88 |
2023-02-01 | $160,000 (-6.6%) | $188,353 (-19.3%) | 0.00 | 86 |
2023-03-01 | $154,500 (-7.8%) | $182,482 (-20.6%) | 0.00 | 84 |
2023-04-01 | $167,700 (-4.9%) | $199,200 (-12.7%) | 0.00 | 90 |
2023-05-01 | $159,900 (-27.3%) | $197,835 (-25.6%) | 0.00 | 86 |
2023-06-01 | $157,000 (-23.9%) | $192,133 (-22.8%) | 0.00 | 88 |
2023-07-01 | $168,750 (-23.3%) | $196,594 (-22.3%) | 0.00 | 88 |
2023-08-01 | $182,725 (-8.6%) | $207,726 (-19.3%) | 0.00 | 95 |
2023-09-01 | $165,000 (-23.4%) | $194,258 (-23.9%) | 0.00 | 98 |
2023-10-01 | $165,450 (-15.2%) | $196,602 (-13.2%) | 0.00 | 97 |
2023-11-01 | $165,975 (-12.2%) | $201,325 (-8.0%) | 0.00 | 98 |
2023-12-01 | $174,950 (-5.6%) | $212,708 (0.1%) | 0.00 | 95 |
2024-01-01 | $183,750 (1.7%) | $210,945 (7.7%) | 0.00 | 80 |
2024-02-01 | $183,750 (14.8%) | $216,236 (14.8%) | 0.00 | 90 |
2024-03-01 | $192,500 (24.6%) | $221,138 (21.2%) | 0.00 | 76 |
2024-04-01 | $172,400 (2.8%) | $212,905 (6.9%) | 0.00 | 74 |
2024-05-01 | $213,000 (33.2%) | $230,875 (16.7%) | 0.00 | 86 |
2024-06-01 | $230,000 (46.5%) | $243,775 (26.9%) | 0.00 | 89 |
2024-07-01 | $216,500 (28.3%) | $238,802 (21.5%) | 0.00 | 90 |
2024-08-01 | $211,000 (15.5%) | $234,973 (13.1%) | 0.00 | 84 |
2024-09-01 | $196,950 (19.4%) | $225,017 (15.8%) | 0.00 | 93 |
2024-10-01 | $210,000 (26.9%) | $228,687 (16.3%) | 0.00 | 101 |
Vicksburg's median listing price comes in at 0% of the national average.
Vicksburg's average listing price for 2024-10-01 was $228,687, a difference of $32,085 (16.3%) versus the prior year and $3,670 versus the prior month.
For the 2024-10-01 period, Vicksburg had 101 MLS listings, a difference of 8 listings (9%) versus the prior month and 4 listings (4%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Vicksburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,837 sqft |
2018-02-01 | 0 days | 1,839 sqft |
2018-03-01 | 0 days | 1,866 sqft |
2018-04-01 | 0 days | 1,908 sqft |
2018-05-01 | 0 days | 1,893 sqft |
2018-06-01 | 0 days | 1,891 sqft |
2018-07-01 | 0 days | 1,910 sqft |
2018-08-01 | 0 days | 1,907 sqft |
2018-09-01 | 0 days | 1,907 sqft |
2018-10-01 | 0 days | 1,915 sqft |
2018-11-01 | 0 days | 1,955 sqft |
2018-12-01 | 0 days | 1,958 sqft |
2019-01-01 | 0 days | 1,944 sqft |
2019-02-01 | 0 days | 1,929 sqft |
2019-03-01 | 0 days | 1,880 sqft |
2019-04-01 | 0 days | 1,882 sqft |
2019-05-01 | 0 days | 1,824 sqft |
2019-06-01 | 0 days | 1,805 sqft |
2019-07-01 | 0 days | 1,770 sqft |
2019-08-01 | 0 days | 1,755 sqft |
2019-09-01 | 0 days | 1,759 sqft |
2019-10-01 | 0 days | 1,762 sqft |
2019-11-01 | 0 days | 1,812 sqft |
2019-12-01 | 0 days | 1,806 sqft |
2020-01-01 | 0 days | 1,800 sqft |
2020-02-01 | 0 days | 1,780 sqft |
2020-03-01 | 0 days | 1,849 sqft |
2020-04-01 | 0 days | 1,868 sqft |
2020-05-01 | 0 days | 1,851 sqft |
2020-06-01 | 0 days | 1,820 sqft |
2020-07-01 | 0 days | 1,838 sqft |
2020-08-01 | 0 days | 1,851 sqft |
2020-09-01 | 0 days | 1,926 sqft |
2020-10-01 | 0 days | 2,100 sqft |
2020-11-01 | 0 days | 2,034 sqft |
2020-12-01 | 0 days | 1,861 sqft |
2021-01-01 | 0 days | 1,850 sqft |
2021-02-01 | 0 days | 1,825 sqft |
2021-03-01 | 0 days | 1,767 sqft |
2021-04-01 | 0 days | 1,672 sqft |
2021-05-01 | 0 days | 1,839 sqft |
2021-06-01 | 0 days | 1,735 sqft |
2021-07-01 | 0 days | 1,661 sqft |
2021-08-01 | 0 days | 1,727 sqft |
2021-09-01 | 0 days | 1,702 sqft |
2021-10-01 | 0 days | 1,703 sqft |
2021-11-01 | 0 days | 1,703 sqft |
2021-12-01 | 0 days | 1,644 sqft |
2022-01-01 | 0 days | 1,675 sqft |
2022-02-01 | 0 days | 1,759 sqft |
2022-03-01 | 0 days | 1,745 sqft |
2022-04-01 | 0 days | 1,912 sqft |
2022-05-01 | 0 days | 2,054 sqft |
2022-06-01 | 0 days | 1,862 sqft |
2022-07-01 | 0 days | 1,864 sqft |
2022-08-01 | 0 days | 1,856 sqft |
2022-09-01 | 0 days | 1,860 sqft |
2022-10-01 | 0 days | 1,822 sqft |
2022-11-01 | 0 days | 1,803 sqft |
2022-12-01 | 0 days | 1,832 sqft |
2023-01-01 | 0 days | 1,827 sqft |
2023-02-01 | 0 days | 1,843 sqft |
2023-03-01 | 0 days | 1,847 sqft |
2023-04-01 | 0 days | 1,929 sqft |
2023-05-01 | 0 days | 1,821 sqft |
2023-06-01 | 0 days | 1,816 sqft |
2023-07-01 | 0 days | 1,829 sqft |
2023-08-01 | 0 days | 1,866 sqft |
2023-09-01 | 0 days | 1,853 sqft |
2023-10-01 | 0 days | 1,902 sqft |
2023-11-01 | 0 days | 1,892 sqft |
2023-12-01 | 0 days | 1,916 sqft |
2024-01-01 | 0 days | 1,925 sqft |
2024-02-01 | 0 days | 1,924 sqft |
2024-03-01 | 0 days | 1,924 sqft |
2024-04-01 | 0 days | 1,871 sqft |
2024-05-01 | 0 days | 1,977 sqft |
2024-06-01 | 0 days | 2,048 sqft |
2024-07-01 | 0 days | 2,010 sqft |
2024-08-01 | 0 days | 1,956 sqft |
2024-09-01 | 0 days | 1,926 sqft |
2024-10-01 | 0 days | 1,936 sqft |
Vicksburg's median square footage for active listings during the 2024-10-01 period was 1,936 sqft. One year prior, the average listing was 1,902 sqft.