Wilson FHA Loan Rates, Closing Costs & Stats

Wilson, NC

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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.

    Wilson's 65 lenders originated 220 FHA loans during 2023. The total origination value was $47,960,000, with an average FHA loan value of $218,000.

    Wilson FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Wilson averaged 6.1% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Wilson's average FHA mortgage closing costs are $7,223.

    The average rate for the prior week (2024-12-06) was 5.97% and one month ago for the week of 2024-11-08, the average rate was 6.43%.

    The average rate one year ago was 6.74%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

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

    Wilson 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 Wilson level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 31 6.89% $10,713
    QUICKEN LOANS, LLC 21 6.48% $8,740
    DHI MORTGAGE COMPANY, LTD. 10 5.41% $7,003
    American Security Mortgage Corp. 8 6.06% $8,663
    VELOCIO MORTGAGE L.L.C. 8 5.52% $9,856
    UNITED WHOLESALE MORTGAGE, LLC 7 6.25% $12,265
    MOVEMENT MORTGAGE, LLC 7 6.59% $11,138
    CROSSCOUNTRY MORTGAGE, LLC 7 6.34% $12,729
    CORNERSTONE HOME LENDING, INC. 6 6.58% $11,015
    Truist 6 6.57% $6,929
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.67% $9,743
    Mr. Cooper ( Nationstar Mortgage ) 6 6.40% $11,343
    INTERCOASTAL MORTGAGE COMPANY 5 6.73% $7,563
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.30% $6,871
    GUARANTEED RATE, INC. 4 6.64% $9,485
    LOANDEPOT.COM, LLC 4 7.06% $10,009
    Carrington Mortgage Services, LLC 3 5.96% $9,178
    TOP FLITE FINANCIAL, INC. 3 6.50% $13,208
    Integrity Home Mortgage Corp 3 6.50% $9,577
    Alcova Mortgage LLC 2 7.50% $7,833
    Blue Ridge Bank 2 5.94% $12,963
    CARDINAL FINANCIAL 2 6.44% $11,579
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 6.88% $9,166
    First-Citizens Bank & Trust Company 2 5.75% $13,058
    First Heritage Mortgage, LLC 2 6.44% $7,847
    LOANPAL, LLC 2 6.56% $11,655
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.44% $8,191
    NEWREZ LLC 2 6.25% $9,268
    NFM, INC. 2 6.75% $12,920
    Northpointe Bank 2 6.38% $9,353
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 7.25% $10,862
    Equity Prime Mortgage LLC 1 6.75% $9,796
    Encompass Lending Group, LP 1 6.88% $10,044
    Lakeview Community Capital, LLC 1 6.50% $18,037
    EMM LOANS LLC 1 5.38% $14,641
    Towne Bank 1 7.00% $17,865
    MICHIGAN MUTUAL, INC. 1 7.00% $9,884
    Mid-Continent Funding, Inc. 1 6.88% $6,490
    MLB RESIDENTIAL LENDING, LLC 1 7.75% $11,980
    AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 6.75% $8,232
    MOUNTAIN WEST FINANCIAL, INC. 1 6.75% $11,149
    CMG MORTGAGE, INC. 1 7.25% $5,880
    Century Mortgage Company DBA Century Lending Company 1 6.88% $9,960
    M&T Bank 1 5.63% $10,377
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $13,662
    UNION HOME MORTGAGE CORP. 1 6.63% $6,056
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $8,232
    AMERICAN FINANCIAL NETWORK, INC. 1 7.63% $13,215
    North State Bank 1 7.38% $9,573
    ON Q FINANCIAL, INC. 1 6.50% $5,423
    Paramount Residential Mortgage Group, Inc. 1 6.75% $6,957
    PENNYMAC LOAN SERVICES, LLC 1 6.13% $22,669
    POINT Mortgage 1 6.75% $9,098
    POLARIS HOME FUNDING CORP. 1 7.13% $10,067
    ZILLOW HOME LOANS, LLC 1 5.88% $9,867
    Bank of America 1 6.88% $7,732
    RELIANCE FIRST CAPITAL, LLC 1 6.88% $9,696
    SeaTrust Mortgage Company 1 7.63% $10,168
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.63% $6,141
    Flagstar Bank, FSB 1 6.64% $9,743
    FREEDOM MORTGAGE CORPORATION 1 6.25% $13,300
    Evolve Bank & Trust 1 7.75% $12,019
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $11,296
    HOMESIDE FINANCIAL, LLC 1 6.75% $23,983
    INSPIRE HOME LOANS INC. 1 6.12% $7,650

    The top Wilson FHA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 31 FHA loans originated. Their average total fees are $10,713, which is $1,973 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Wilson FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($7,003), QUICKEN LOANS, LLC ($8,740), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($10,713), .

    The lowest rate Wilson FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.41%), QUICKEN LOANS, LLC (6.48%), ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.89%), .

    Wilson FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    WILSON, NC WILSON 2022 $420,680 $538,650 $651,050 $809,150
    WILSON, NC WILSON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Wilson (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 $129,600 (8.1%) $159,623 (3.8%) 0.00 252
    2018-02-01 $129,900 (9.5%) $160,284 (2.6%) 0.00 243
    2018-03-01 $132,500 (0.8%) $153,041 (-9.2%) 0.00 247
    2018-04-01 $129,950 (-4.7%) $151,563 (-11.5%) 0.00 255
    2018-05-01 $123,875 (-8.2%) $158,053 (-8.0%) 0.00 260
    2018-06-01 $120,990 (-13.5%) $161,506 (-7.8%) 0.00 238
    2018-07-01 $121,490 (-16.7%) $168,368 (-5.3%) 0.00 239
    2018-08-01 $123,500 (-8.0%) $168,477 (0.5%) 0.00 248
    2018-09-01 $132,250 (0.2%) $173,025 (4.6%) 0.00 243
    2018-10-01 $129,850 (-2.6%) $168,222 (2.6%) 0.00 245
    2018-11-01 $129,925 (-5.5%) $166,602 (-1.0%) 0.00 250
    2018-12-01 $129,700 (-0.2%) $162,930 (-0.1%) 0.00 239
    2019-01-01 $132,350 (2.1%) $161,673 (1.3%) 0.00 233
    2019-02-01 $136,250 (4.9%) $169,315 (5.6%) 0.00 211
    2019-03-01 $141,386 (6.7%) $173,444 (13.3%) 0.00 187
    2019-04-01 $152,400 (17.3%) $182,110 (20.2%) 0.00 172
    2019-05-01 $152,400 (23.0%) $187,889 (18.9%) 0.00 177
    2019-06-01 $169,900 (40.4%) $199,393 (23.5%) 0.00 181
    2019-07-01 $173,700 (43.0%) $211,744 (25.8%) 0.00 167
    2019-08-01 $174,645 (41.4%) $215,167 (27.7%) 0.00 164
    2019-09-01 $174,564 (32.0%) $214,171 (23.8%) 0.00 161
    2019-10-01 $174,500 (34.4%) $212,499 (26.3%) 0.00 153
    2019-11-01 $165,900 (27.7%) $200,498 (20.4%) 0.00 144
    2019-12-01 $169,900 (31.0%) $195,875 (20.2%) 0.00 150
    2020-01-01 $154,000 (16.4%) $186,031 (15.1%) 0.00 145
    2020-02-01 $165,000 (21.1%) $201,625 (19.1%) 0.00 143
    2020-03-01 $164,000 (16.0%) $201,660 (16.3%) 0.00 142
    2020-04-01 $169,900 (11.5%) $210,721 (15.7%) 0.00 138
    2020-05-01 $182,400 (19.7%) $210,918 (12.3%) 0.00 140
    2020-06-01 $189,900 (11.8%) $218,814 (9.7%) 0.00 121
    2020-07-01 $193,375 (11.3%) $228,903 (8.1%) 0.00 101
    2020-08-01 $199,950 (14.5%) $240,734 (11.9%) 0.00 95
    2020-09-01 $221,200 (26.7%) $276,663 (29.2%) 0.00 76
    2020-10-01 $205,450 (17.7%) $278,595 (31.1%) 0.00 64
    2020-11-01 $179,900 (8.4%) $244,471 (21.9%) 0.00 73
    2020-12-01 $207,100 (21.9%) $249,199 (27.2%) 0.00 62
    2021-01-01 $208,000 (35.1%) $256,267 (37.8%) 0.00 60
    2021-02-01 $219,950 (33.3%) $255,406 (26.7%) 0.00 66
    2021-03-01 $209,425 (27.7%) $254,591 (26.3%) 0.00 59
    2021-04-01 $216,150 (27.2%) $265,492 (26.0%) 0.00 53
    2021-05-01 $199,990 (9.6%) $243,175 (15.3%) 0.00 40
    2021-06-01 $187,425 (-1.3%) $224,651 (2.7%) 0.00 62
    2021-07-01 $182,500 (-5.6%) $226,130 (-1.2%) 0.00 64
    2021-08-01 $189,900 (-5.0%) $232,783 (-3.3%) 0.00 63
    2021-09-01 $186,150 (-15.9%) $222,076 (-19.7%) 0.00 58
    2021-10-01 $197,400 (-3.9%) $236,517 (-15.1%) 0.00 66
    2021-11-01 $187,950 (4.5%) $231,094 (-5.5%) 0.00 67
    2021-12-01 $220,700 (6.6%) $251,364 (0.9%) 0.00 57
    2022-01-01 $197,400 (-5.1%) $244,224 (-4.7%) 0.00 38
    2022-02-01 $184,950 (-15.9%) $230,582 (-9.7%) 0.00 35
    2022-03-01 $223,500 (6.7%) $254,148 (-0.2%) 0.00 34
    2022-04-01 $205,000 (-5.2%) $269,454 (1.5%) 0.00 48
    2022-05-01 $237,500 (18.8%) $290,443 (19.4%) 0.00 48
    2022-06-01 $249,925 (33.4%) $305,469 (36.0%) 0.00 65
    2022-07-01 $247,450 (35.6%) $287,362 (27.1%) 0.00 102
    2022-08-01 $237,225 (24.9%) $274,070 (17.7%) 0.00 105
    2022-09-01 $254,500 (36.7%) $267,549 (20.5%) 0.00 83
    2022-10-01 $249,900 (26.6%) $275,013 (16.3%) 0.00 82
    2022-11-01 $243,800 (29.7%) $294,511 (27.4%) 0.00 83
    2022-12-01 $249,000 (12.8%) $273,931 (9.0%) 0.00 83
    2023-01-01 $260,700 (32.1%) $291,886 (19.5%) 0.00 79
    2023-02-01 $274,175 (48.2%) $298,794 (29.6%) 0.00 83
    2023-03-01 $283,750 (27.0%) $315,511 (24.1%) 0.00 81
    2023-04-01 $299,990 (46.3%) $326,361 (21.1%) 0.00 71
    2023-05-01 $316,298 (33.2%) $337,370 (16.2%) 0.00 71
    2023-06-01 $290,673 (16.3%) $316,742 (3.7%) 0.00 84
    2023-07-01 $275,000 (11.1%) $308,807 (7.5%) 0.00 83
    2023-08-01 $264,945 (11.7%) $299,509 (9.3%) 0.00 82
    2023-09-01 $270,990 (6.5%) $299,620 (12.0%) 0.00 80
    2023-10-01 $276,225 (10.5%) $300,954 (9.4%) 0.00 105
    2023-11-01 $279,950 (14.8%) $299,418 (1.7%) 0.00 111
    2023-12-01 $290,000 (16.5%) $307,287 (12.2%) 0.00 113
    2024-01-01 $291,225 (11.7%) $305,892 (4.8%) 0.00 111
    2024-02-01 $296,334 (8.1%) $306,578 (2.6%) 0.00 122
    2024-03-01 $275,000 (-3.1%) $283,096 (-10.3%) 0.00 154
    2024-04-01 $290,124 (-3.3%) $302,106 (-7.4%) 0.00 157
    2024-05-01 $296,500 (-6.3%) $312,327 (-7.4%) 0.00 146
    2024-06-01 $290,695 (0.0%) $300,460 (-5.1%) 0.00 156
    2024-07-01 $286,510 (4.2%) $306,068 (-0.9%) 0.00 171
    2024-08-01 $283,303 (6.9%) $313,361 (4.6%) 0.00 167
    2024-09-01 $282,880 (4.4%) $313,321 (4.6%) 0.00 179
    2024-10-01 $278,499 (0.8%) $305,441 (1.5%) 0.00 198
    2024-11-01 $275,000 (-1.8%) $307,619 (2.7%) 0.00 218
    Wilson's median listing price for 2024-11-01 was $275,000, a difference of $-4,950 (-1.8%) versus the prior year and $-3,499 versus the prior month.

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

    Wilson's average listing price for 2024-11-01 was $307,619, a difference of $8,201 (2.7%) versus the prior year and $2,178 versus the prior month.

    For the 2024-11-01 period, Wilson had 218 MLS listings, a difference of 20 listings (10%) versus the prior month and 107 listings (96%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Wilson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,657 sqft
    2018-02-01 0 days 1,610 sqft
    2018-03-01 0 days 1,653 sqft
    2018-04-01 0 days 1,652 sqft
    2018-05-01 0 days 1,582 sqft
    2018-06-01 0 days 1,536 sqft
    2018-07-01 0 days 1,580 sqft
    2018-08-01 0 days 1,563 sqft
    2018-09-01 0 days 1,609 sqft
    2018-10-01 0 days 1,583 sqft
    2018-11-01 0 days 1,564 sqft
    2018-12-01 0 days 1,541 sqft
    2019-01-01 0 days 1,537 sqft
    2019-02-01 0 days 1,605 sqft
    2019-03-01 0 days 1,646 sqft
    2019-04-01 0 days 1,734 sqft
    2019-05-01 0 days 1,878 sqft
    2019-06-01 0 days 2,019 sqft
    2019-07-01 0 days 2,006 sqft
    2019-08-01 0 days 2,022 sqft
    2019-09-01 0 days 2,008 sqft
    2019-10-01 0 days 2,003 sqft
    2019-11-01 0 days 1,800 sqft
    2019-12-01 0 days 1,835 sqft
    2020-01-01 0 days 1,734 sqft
    2020-02-01 0 days 1,796 sqft
    2020-03-01 0 days 1,724 sqft
    2020-04-01 0 days 1,773 sqft
    2020-05-01 0 days 1,714 sqft
    2020-06-01 0 days 1,811 sqft
    2020-07-01 0 days 1,880 sqft
    2020-08-01 0 days 1,952 sqft
    2020-09-01 0 days 2,171 sqft
    2020-10-01 0 days 2,054 sqft
    2020-11-01 0 days 1,838 sqft
    2020-12-01 0 days 1,868 sqft
    2021-01-01 0 days 1,870 sqft
    2021-02-01 0 days 1,766 sqft
    2021-03-01 0 days 1,692 sqft
    2021-04-01 0 days 1,804 sqft
    2021-05-01 0 days 1,550 sqft
    2021-06-01 0 days 1,551 sqft
    2021-07-01 0 days 1,650 sqft
    2021-08-01 0 days 1,607 sqft
    2021-09-01 0 days 1,552 sqft
    2021-10-01 0 days 1,655 sqft
    2021-11-01 0 days 1,625 sqft
    2021-12-01 0 days 1,718 sqft
    2022-01-01 0 days 1,743 sqft
    2022-02-01 0 days 1,679 sqft
    2022-03-01 0 days 1,765 sqft
    2022-04-01 0 days 1,603 sqft
    2022-05-01 0 days 1,593 sqft
    2022-06-01 0 days 1,553 sqft
    2022-07-01 0 days 1,586 sqft
    2022-08-01 0 days 1,547 sqft
    2022-09-01 0 days 1,669 sqft
    2022-10-01 0 days 1,691 sqft
    2022-11-01 0 days 1,732 sqft
    2022-12-01 0 days 1,705 sqft
    2023-01-01 0 days 1,700 sqft
    2023-02-01 0 days 1,693 sqft
    2023-03-01 0 days 1,682 sqft
    2023-04-01 0 days 1,727 sqft
    2023-05-01 0 days 1,887 sqft
    2023-06-01 0 days 1,730 sqft
    2023-07-01 0 days 1,720 sqft
    2023-08-01 0 days 1,738 sqft
    2023-09-01 0 days 1,772 sqft
    2023-10-01 0 days 1,763 sqft
    2023-11-01 0 days 1,741 sqft
    2023-12-01 0 days 1,742 sqft
    2024-01-01 0 days 1,729 sqft
    2024-02-01 0 days 1,722 sqft
    2024-03-01 0 days 1,682 sqft
    2024-04-01 0 days 1,660 sqft
    2024-05-01 0 days 1,655 sqft
    2024-06-01 0 days 1,663 sqft
    2024-07-01 0 days 1,627 sqft
    2024-08-01 0 days 1,667 sqft
    2024-09-01 0 days 1,739 sqft
    2024-10-01 0 days 1,640 sqft
    2024-11-01 0 days 1,646 sqft
    Wilson's median listing age (time on market) for 2024-11-01 was 0 days.

    Wilson's median square footage for active listings during the 2024-11-01 period was 1,646 sqft. One year prior, the average listing was 1,741 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).