Winchester FHA Loan Rates, Closing Costs & Stats
WINCHESTER, VA-WV
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.
Winchester's 94 lenders originated 464 FHA loans during 2022. The total origination value was $123,740,000, with an average FHA loan value of $266,681.
Winchester FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Winchester
averaged
6.69%
for the week of 2023-12-01, compared to the national average (all FHA variants) of
6.949% for the same period.
Winchester's average FHA mortgage closing costs are $8,183.
The average rate for the prior week (2023-11-24) was
6.7% and
one month ago for the week of 2023-10-27, the
average rate was 6.91%.
The average rate one year ago was 6.03%.
For refis of the same type during the week of 2023-12-01, the average rate
was 5.71%.
Winchester 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 Winchester level.
The top Winchester FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
45 FHA loans originated. Their average total fees are
$10,895, which is $343
higher than the next largest lender,
Integrity Home Mortgage Corp.
The lowest fee Winchester FHA lenders (with over 10 loans originated) are
CBM Mortgage, Inc. ($8,778), UNITED WHOLESALE MORTGAGE, LLC ($10,388), Integrity Home Mortgage Corp ($10,552), QUICKEN LOANS, LLC ($10,895) and PRIMELENDING, A PLAINSCAPITAL COMPANY ($11,079).
The lowest rate Winchester FHA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC (4.40%), QUICKEN LOANS, LLC (4.44%), Mr. Cooper ( Nationstar Mortgage ) (4.48%), PRIMELENDING, A PLAINSCAPITAL COMPANY (4.54%) and MCLEAN MORTGAGE CORPORATION (4.85%).
Winchester FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
WINCHESTER, VA-WV | FREDERICK | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
WINCHESTER, VA-WV | WINCHESTER CITY | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
WINCHESTER, VA-WV | HAMPSHIRE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
WINCHESTER, VA-WV | FREDERICK | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
WINCHESTER, VA-WV | WINCHESTER CITY | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
WINCHESTER, VA-WV | HAMPSHIRE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Winchester (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 | $278,500 (4.3%) | $311,248 (7.4%) | 0.00 | 490 |
2018-02-01 | $287,870 (6.6%) | $317,767 (8.1%) | 0.00 | 500 |
2018-03-01 | $294,740 (5.3%) | $320,369 (4.4%) | 0.00 | 544 |
2018-04-01 | $299,450 (7.0%) | $327,055 (5.3%) | 0.00 | 592 |
2018-05-01 | $299,995 (1.7%) | $331,492 (3.2%) | 0.00 | 636 |
2018-06-01 | $299,900 (0.6%) | $325,766 (0.8%) | 0.00 | 686 |
2018-07-01 | $297,226 (2.9%) | $322,083 (3.4%) | 0.00 | 726 |
2018-08-01 | $289,900 (0.3%) | $316,984 (2.4%) | 0.00 | 737 |
2018-09-01 | $275,500 (-4.3%) | $311,404 (-0.6%) | 0.00 | 748 |
2018-10-01 | $278,950 (-4.6%) | $316,225 (1.3%) | 0.00 | 725 |
2018-11-01 | $285,771 (2.0%) | $319,470 (1.7%) | 0.00 | 722 |
2018-12-01 | $287,684 (4.7%) | $319,504 (4.4%) | 0.00 | 657 |
2019-01-01 | $289,575 (4.0%) | $317,795 (2.1%) | 0.00 | 560 |
2019-02-01 | $296,198 (2.9%) | $322,803 (1.6%) | 0.00 | 563 |
2019-03-01 | $298,653 (1.3%) | $328,159 (2.4%) | 0.00 | 594 |
2019-04-01 | $297,198 (-0.8%) | $331,554 (1.4%) | 0.00 | 636 |
2019-05-01 | $301,945 (0.7%) | $342,899 (3.4%) | 0.00 | 616 |
2019-06-01 | $299,000 (-0.3%) | $342,827 (5.2%) | 0.00 | 638 |
2019-07-01 | $299,995 (0.9%) | $341,654 (6.1%) | 0.00 | 637 |
2019-08-01 | $299,911 (3.5%) | $340,043 (7.3%) | 0.00 | 648 |
2019-09-01 | $299,792 (8.8%) | $338,267 (8.6%) | 0.00 | 665 |
2019-10-01 | $299,861 (7.5%) | $337,358 (6.7%) | 0.00 | 672 |
2019-11-01 | $296,495 (3.8%) | $332,954 (4.2%) | 0.00 | 623 |
2019-12-01 | $297,225 (3.3%) | $334,237 (4.6%) | 0.00 | 565 |
2020-01-01 | $293,245 (1.3%) | $334,314 (5.2%) | 0.00 | 520 |
2020-02-01 | $297,995 (0.6%) | $339,320 (5.1%) | 0.00 | 492 |
2020-03-01 | $301,218 (0.9%) | $344,621 (5.0%) | 0.00 | 499 |
2020-04-01 | $301,448 (1.4%) | $348,476 (5.1%) | 0.00 | 503 |
2020-05-01 | $317,990 (5.3%) | $354,554 (3.4%) | 0.00 | 497 |
2020-06-01 | $329,495 (10.2%) | $371,355 (8.3%) | 0.00 | 431 |
2020-07-01 | $314,993 (5.0%) | $372,688 (9.1%) | 0.00 | 367 |
2020-08-01 | $334,990 (11.7%) | $396,154 (16.5%) | 0.00 | 301 |
2020-09-01 | $329,713 (10.0%) | $394,821 (16.7%) | 0.00 | 257 |
2020-10-01 | $299,900 (0.0%) | $391,719 (16.1%) | 0.00 | 245 |
2020-11-01 | $299,900 (1.2%) | $404,369 (21.5%) | 0.00 | 232 |
2020-12-01 | $308,675 (3.9%) | $413,274 (23.7%) | 0.00 | 198 |
2021-01-01 | $329,900 (12.5%) | $413,321 (23.6%) | 0.00 | 167 |
2021-02-01 | $334,450 (12.2%) | $411,594 (21.3%) | 0.00 | 138 |
2021-03-01 | $369,450 (22.7%) | $419,381 (21.7%) | 0.00 | 159 |
2021-04-01 | $374,900 (24.4%) | $413,547 (18.7%) | 0.00 | 195 |
2021-05-01 | $389,900 (22.6%) | $415,171 (17.1%) | 0.00 | 205 |
2021-06-01 | $389,900 (18.3%) | $425,553 (14.6%) | 0.00 | 238 |
2021-07-01 | $379,900 (20.6%) | $429,703 (15.3%) | 0.00 | 267 |
2021-08-01 | $392,000 (17.0%) | $434,781 (9.8%) | 0.00 | 273 |
2021-09-01 | $366,975 (11.3%) | $413,630 (4.8%) | 0.00 | 290 |
2021-10-01 | $359,900 (20.0%) | $419,486 (7.1%) | 0.00 | 271 |
2021-11-01 | $356,000 (18.7%) | $422,068 (4.4%) | 0.00 | 248 |
2021-12-01 | $377,450 (22.3%) | $427,679 (3.5%) | 0.00 | 217 |
2022-01-01 | $402,450 (22.0%) | $446,831 (8.1%) | 0.00 | 148 |
2022-02-01 | $395,873 (18.4%) | $441,087 (7.2%) | 0.00 | 137 |
2022-03-01 | $377,945 (2.3%) | $436,417 (4.1%) | 0.00 | 159 |
2022-04-01 | $389,950 (4.0%) | $463,059 (12.0%) | 0.00 | 174 |
2022-05-01 | $427,750 (9.7%) | $483,182 (16.4%) | 0.00 | 217 |
2022-06-01 | $434,425 (11.4%) | $489,323 (15.0%) | 0.00 | 262 |
2022-07-01 | $425,000 (11.9%) | $480,230 (11.8%) | 0.00 | 305 |
2022-08-01 | $407,450 (3.9%) | $465,558 (7.1%) | 0.00 | 328 |
2022-09-01 | $403,725 (10.0%) | $467,396 (13.0%) | 0.00 | 333 |
2022-10-01 | $399,900 (11.1%) | $455,443 (8.6%) | 0.00 | 334 |
2022-11-01 | $389,900 (9.5%) | $447,834 (6.1%) | 0.00 | 324 |
2022-12-01 | $399,900 (6.0%) | $451,961 (5.7%) | 0.00 | 292 |
2023-01-01 | $417,000 (3.6%) | $457,691 (2.4%) | 0.00 | 268 |
2023-02-01 | $424,998 (7.4%) | $464,194 (5.2%) | 0.00 | 245 |
2023-03-01 | $419,945 (11.1%) | $457,704 (4.9%) | 0.00 | 238 |
2023-04-01 | $419,990 (7.7%) | $477,458 (3.1%) | 0.00 | 234 |
2023-05-01 | $437,245 (2.2%) | $485,819 (0.6%) | 0.00 | 243 |
2023-06-01 | $444,995 (2.4%) | $484,094 (-1.1%) | 0.00 | 251 |
2023-07-01 | $429,900 (1.2%) | $462,181 (-3.8%) | 0.00 | 265 |
2023-08-01 | $419,498 (3.0%) | $457,436 (-1.7%) | 0.00 | 283 |
2023-09-01 | $420,000 (4.0%) | $466,238 (-0.3%) | 0.00 | 298 |
2023-10-01 | $411,979 (3.0%) | $472,451 (3.7%) | 0.00 | 321 |
2023-11-01 | $409,400 (5.0%) | $476,591 (6.4%) | 0.00 | 316 |
Winchester's median listing price comes in at 0% of the national average.
Winchester's average listing price for 2023-11-01 was $476,591, a difference of $28,757 (6.4%) versus the prior year and $4,140 versus the prior month.
For the 2023-11-01 period, Winchester had 316 MLS listings, a difference of -5 listings (-2%) versus the prior month and -8 listings (-2%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Winchester (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,973 sqft |
2018-02-01 | 0 days | 2,007 sqft |
2018-03-01 | 0 days | 2,071 sqft |
2018-04-01 | 0 days | 2,049 sqft |
2018-05-01 | 0 days | 2,083 sqft |
2018-06-01 | 0 days | 2,148 sqft |
2018-07-01 | 0 days | 2,113 sqft |
2018-08-01 | 0 days | 2,130 sqft |
2018-09-01 | 0 days | 2,103 sqft |
2018-10-01 | 0 days | 2,123 sqft |
2018-11-01 | 0 days | 2,145 sqft |
2018-12-01 | 0 days | 2,108 sqft |
2019-01-01 | 0 days | 2,102 sqft |
2019-02-01 | 0 days | 2,122 sqft |
2019-03-01 | 0 days | 2,145 sqft |
2019-04-01 | 0 days | 2,129 sqft |
2019-05-01 | 0 days | 2,147 sqft |
2019-06-01 | 0 days | 2,104 sqft |
2019-07-01 | 0 days | 2,149 sqft |
2019-08-01 | 0 days | 2,147 sqft |
2019-09-01 | 0 days | 2,140 sqft |
2019-10-01 | 0 days | 2,136 sqft |
2019-11-01 | 0 days | 2,100 sqft |
2019-12-01 | 0 days | 2,101 sqft |
2020-01-01 | 0 days | 2,071 sqft |
2020-02-01 | 0 days | 2,100 sqft |
2020-03-01 | 0 days | 2,110 sqft |
2020-04-01 | 0 days | 2,100 sqft |
2020-05-01 | 0 days | 2,150 sqft |
2020-06-01 | 0 days | 2,146 sqft |
2020-07-01 | 0 days | 2,106 sqft |
2020-08-01 | 0 days | 2,104 sqft |
2020-09-01 | 0 days | 2,033 sqft |
2020-10-01 | 0 days | 1,984 sqft |
2020-11-01 | 0 days | 1,938 sqft |
2020-12-01 | 0 days | 1,915 sqft |
2021-01-01 | 0 days | 1,948 sqft |
2021-02-01 | 0 days | 1,859 sqft |
2021-03-01 | 0 days | 1,951 sqft |
2021-04-01 | 0 days | 1,968 sqft |
2021-05-01 | 0 days | 2,048 sqft |
2021-06-01 | 0 days | 1,998 sqft |
2021-07-01 | 0 days | 2,000 sqft |
2021-08-01 | 0 days | 2,010 sqft |
2021-09-01 | 0 days | 1,986 sqft |
2021-10-01 | 0 days | 1,922 sqft |
2021-11-01 | 0 days | 1,923 sqft |
2021-12-01 | 0 days | 1,916 sqft |
2022-01-01 | 0 days | 2,000 sqft |
2022-02-01 | 0 days | 2,023 sqft |
2022-03-01 | 0 days | 1,965 sqft |
2022-04-01 | 0 days | 2,052 sqft |
2022-05-01 | 0 days | 2,166 sqft |
2022-06-01 | 0 days | 2,213 sqft |
2022-07-01 | 0 days | 2,184 sqft |
2022-08-01 | 0 days | 2,176 sqft |
2022-09-01 | 0 days | 2,154 sqft |
2022-10-01 | 0 days | 2,052 sqft |
2022-11-01 | 0 days | 2,019 sqft |
2022-12-01 | 0 days | 2,037 sqft |
2023-01-01 | 0 days | 2,052 sqft |
2023-02-01 | 0 days | 2,011 sqft |
2023-03-01 | 0 days | 2,051 sqft |
2023-04-01 | 0 days | 2,052 sqft |
2023-05-01 | 0 days | 2,175 sqft |
2023-06-01 | 0 days | 2,217 sqft |
2023-07-01 | 0 days | 2,100 sqft |
2023-08-01 | 0 days | 2,055 sqft |
2023-09-01 | 0 days | 2,052 sqft |
2023-10-01 | 0 days | 1,991 sqft |
2023-11-01 | 0 days | 2,012 sqft |
Winchester's median square footage for active listings during the 2023-11-01 period was 2,012 sqft. One year prior, the average listing was 2,019 sqft.