Winston FHA Loan Rates, Closing Costs & Stats

WINSTON-SALEM, 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.

    Winston's 166 lenders originated 2,106 FHA loans during 2022. The total origination value was $504,340,000, with an average FHA loan value of $239,478.

    Winston FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Winston averaged 6.2% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

    Winston's average FHA mortgage closing costs are $6,624.

    The average rate for the prior week (2023-05-19) was 5.77% and one month ago for the week of 2023-04-21, the average rate was 5.91%.

    The average rate one year ago was 4.93%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.12%.

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

    Winston 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 Winston level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 315 4.60% $9,164
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 162 5.03% $7,912
    MOVEMENT MORTGAGE, LLC 139 4.93% $8,976
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 136 5.23% $10,021
    DHI MORTGAGE COMPANY, LTD. 81 4.13% $9,178
    LOANDEPOT.COM, LLC 56 4.91% $7,879
    CARDINAL FINANCIAL 53 5.08% $11,178
    FREEDOM MORTGAGE CORPORATION 41 4.77% $9,054
    Mr. Cooper ( Nationstar Mortgage ) 36 4.69% $10,025
    UNITED WHOLESALE MORTGAGE, LLC 33 4.78% $9,856
    BROKER SOLUTIONS, INC. 31 5.22% $8,906
    VANDERBILT MORTGAGE AND FINANCE, INC. 29 4.97% $10,997
    CALIBER HOME LOANS, INC. 28 4.51% $8,307
    Carrington Mortgage Services, LLC 28 4.92% $9,416
    INSPIRE HOME LOANS INC. 27 5.37% $10,648
    AMERISAVE MORTGAGE CORPORATION 26 4.43% $11,262
    PENNYMAC LOAN SERVICES, LLC 25 4.39% $9,162
    LAKEVIEW LOAN SERVICING, LLC 25 4.11% $6,461
    NFM, INC. 24 5.84% $9,639
    CERTAINTY HOME LOANS, LLC 22 4.88% $9,699
    Ameris Bank 21 4.49% $8,037
    CROSSCOUNTRY MORTGAGE, LLC 19 5.19% $10,051
    Nations Lending Corporation 19 5.43% $9,856
    CMG MORTGAGE, INC. 19 5.38% $9,434
    GUARANTEED RATE, INC. 17 4.79% $8,197
    NEWREZ LLC 17 4.73% $7,626
    MORTGAGE SOLUTIONS OF COLORADO, LLC 16 5.65% $8,724
    UNION HOME MORTGAGE CORP. 14 5.69% $8,817
    Wells Fargo Bank 13 4.71% $7,138
    AMERIFIRST FINANCIAL CORPORATION 12 5.47% $10,225
    HOMESIDE FINANCIAL, LLC 12 4.92% $9,418
    Hometown Lenders, Inc. 12 4.56% $10,889
    MCLEAN MORTGAGE CORPORATION 12 5.09% $8,255
    AMERICAN FINANCIAL RESOURCES, INC. 11 4.30% $9,820
    Prosperity Home Mortgage, LLC 10 5.46% $9,463
    Truist 10 4.61% $8,226
    PLAZA HOME MORTGAGE, INC. 10 4.78% $10,620
    Blue Ridge Bank 9 5.18% $9,523
    Mortgage Research Center, LLC 9 5.47% $5,750
    Flagstar Bank, FSB 9 4.43% $8,310
    Allen Tate Mortgage Partners, LLC 9 5.85% $9,880
    EQUITY RESOURCES, INC. 9 4.67% $8,589
    Truliant Federal Credit Union 9 4.72% $6,401
    AMERICAN FINANCING CORPORATION 9 4.65% $8,264
    MUTUAL OF OMAHA MORTGAGE, INC. 8 4.81% $13,193
    PRIMARY RESIDENTIAL MORTGAGE, INC. 8 5.13% $11,250
    First Guaranty Mortgage Corporation 8 3.98% $8,200
    Alcova Mortgage LLC 7 4.96% $6,400
    PLANET HOME LENDING, LLC 7 5.02% $6,942
    RELIANCE FIRST CAPITAL, LLC 7 4.77% $8,771
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 7 5.30% $7,688
    Lakeview Community Capital, LLC 6 3.97% $4,607
    First Federal Bank 6 4.60% $12,410
    U.S. Bank 6 5.21% $6,607
    HOME POINT FINANCIAL CORPORATION 6 4.39% $6,984
    LOANPAL, LLC 6 4.10% $14,832
    Wolfe Financial, Inc 6 5.69% $10,198
    TOWNE MORTGAGE COMPANY 5 5.50% $12,696
    TOP FLITE FINANCIAL, INC. 5 5.13% $14,949
    T2 FINANCIAL LLC 5 5.88% $11,973
    CAPITAL CENTER, L.L.C. 5 5.15% $4,674
    SeaTrust Mortgage Company 5 6.13% $9,703
    GoPrime Mortgage, Inc. 5 5.45% $10,062
    HAMILTON HOME LOANS, INC. 5 4.65% $8,986
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 5.48% $10,410
    M&T Bank 5 4.10% $9,626
    MORTGAGE FINANCIAL GROUP, INC. 5 5.08% $11,226
    MY MORTGAGE, INC. 4 5.72% $7,054
    RAPID MORTGAGE COMPANY 4 4.97% $9,937
    DAS Acquisition Company, LLC 4 5.00% $10,110
    Bank of England 4 5.25% $11,109
    INTERCOASTAL MORTGAGE COMPANY 4 4.72% $8,013
    JET HOMELOANS, LLC 4 4.47% $9,504
    Barrington Bank & Trust Company, N.A. 4 4.09% $7,938
    EVERETT FINANCIAL, INC. 4 6.53% $5,429
    ZILLOW HOME LOANS, LLC 4 4.88% $9,398
    VILLAGE CAPITAL MORTGAGE 4 3.88% $6,871
    Northpointe Bank 4 5.16% $10,125
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 5.83% $12,070
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 6.00% $9,343
    SUN WEST MORTGAGE COMPANY, INC. 3 4.75% $9,947
    First National Bank of Pennsylvania 3 4.13% $6,953
    AmeriHome Mortgage Company, LLC 3 5.83% $7,970
    HOMESPIRE MORTGAGE CORPORATION 3 5.25% $9,632
    HOMESTAR FINANCIAL CORPORATION 3 4.71% $6,219
    Gateway First Bank 3 5.25% $5,326
    EMM LOANS LLC 3 5.42% $9,953
    Colten Mortgage, LLC 2 3.63% $9,674
    Alpha Mortgage Corporation 2 4.44% $7,505
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 5.94% $14,020
    American Security Mortgage Corp. 2 4.31% $9,050
    Amerifirst Financial, Inc. 2 5.19% $9,748
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.38% $8,398
    Bank of America 2 4.00% $8,928
    CHURCHILL MORTGAGE CORPORATION 2 4.69% $14,194
    Citizens Bank 2 4.13% $7,581
    CONTOUR MORTGAGE CORPORATION 2 5.00% $11,743
    FINANCE OF AMERICA MORTGAGE LLC 2 3.19% $6,630
    First-Citizens Bank & Trust Company 2 3.88% $6,882
    GUILD MORTGAGE COMPANY 2 4.75% $8,689
    Magnolia Bank 2 4.56% $8,042
    NATIONS DIRECT MORTGAGE, LLC 2 5.13% $8,400
    Paramount Residential Mortgage Group, Inc. 2 5.25% $7,182
    PENTAGON FEDERAL CREDIT UNION 2 5.69% $9,376
    Pinnacle Bank 2 4.75% $7,142
    Plains Commerce Bank 2 5.56% $9,547
    RADIUS FINANCIAL GROUP INC. 2 6.19% $9,895
    Renasant Bank 2 4.06% $7,625
    Residential Mortgage Solutions, Inc. 2 5.75% $14,281
    Shamrock Home Loans, Inc. 2 5.75% $7,284
    SOVEREIGN LENDING GROUP INCORPORATED 2 4.25% $13,770
    The Central Trust Bank 2 4.44% $8,176
    The Fidelity Bank 2 5.94% $8,730
    THRIVE MORTGAGE, LLC 2 5.25% $18,281
    TJC Mortgage, Inc. 2 5.75% $8,846
    Towne Bank 2 3.94% $7,172
    Uwharrie Bank 2 3.38% $5,638
    Victorian Finance, LLC 2 5.13% $9,556
    Wyndham Capital Mortgage, Inc. 2 4.06% $9,547
    PNC Bank 1 4.88% $12,453
    POLARIS HOME FUNDING CORP. 1 5.75% $9,881
    PREMIA MORTGAGE, LLC 1 3.38% $7,356
    KELLER MORTGAGE, LLC 1 3.25% $5,038
    HANCOCK MORTGAGE PARTNERS, LLC 1 6.13% $6,251
    HALLMARK HOME MORTGAGE, LLC 1 5.13% $8,508
    GSF Mortgage Corporation 1 6.00% $8,714
    United Community Bank 1 2.75% $19,449
    First Internet Bank of Indiana 1 5.13% $5,819
    Regions Bank 1 5.63% $6,858
    Equity Prime Mortgage LLC 1 4.25% $6,416
    BAY EQUITY LLC 1 4.13% $14,109
    RESIDENTIAL BANCORP. 1 4.75% $14,095
    Atlantic Union Bank 1 5.25% $5,472
    EMBRACE HOME LOANS, INC. 1 5.99% $12,140
    ALLIED MORTGAGE GROUP, INC. 1 3.00% $6,331
    SOUTHERN TRUST MORTGAGE, LLC 1 3.25% $13,139
    SOUTHWEST STAGE FUNDING, LLC 1 7.25% $5,458
    Assurance Financial Group, L.L.C. 1 2.88% $7,150
    SUCCESS MORTGAGE PARTNERS, INC. 1 4.88% $6,635
    Sunflower Bank 1 4.49% $11,280
    Credence Funding Corporation 1 5.13% $15,425
    CORNERSTONE HOME LENDING, INC. 1 3.75% $8,699
    VERITAS FUNDING, LLC 1 5.63% $13,416
    1ST SIGNATURE LENDING, LLC 1 4.63% $9,334
    THE MORTGAGE FIRM, INC. 1 5.63% $10,610
    ANGEL OAK HOME LOANS LLC 1 5.25% $8,399
    AmRes Corporation 1 5.25% $7,611
    1st National Bank 1 3.00% $7,804
    Willamette Valley Bank 1 4.63% $8,077
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.88% $13,944
    NETWORK CAPITAL FUNDING CORPORATION 1 4.75% $8,223
    Mortgage Network, Inc. 1 5.13% $11,662
    MILEND, INC. 1 5.25% $14,351
    MIDLAND MORTGAGE CORPORATION 1 4.75% $11,027
    NP, Inc. 1 5.50% $13,750
    NTFN, INC. 1 5.75% $6,142
    OAKTREE FUNDING CORP. 1 4.75% $14,288
    OCEANSIDE MORTGAGE COMPANY 1 5.00% $4,786
    OVM FINANCIAL, INC. 1 6.38% $4,978
    Century Mortgage Company DBA Century Lending Company 1 4.63% $20,167
    MDE Home Loans, LLC 1 6.38% $8,122
    CASTLE & COOKE MORTGAGE, LLC 1 5.75% $16,789
    Capital City Home Loans, LLC 1 6.63% $7,277
    BEST CAPITAL FUNDING 1 3.25% $7,908
    LEADERONE FINANCIAL CORPORATION 1 7.13% $4,929
    LAND HOME FINANCIAL SERVICES, INC. 1 4.88% $9,164

    The top Winston FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 315 FHA loans originated. Their average total fees are $9,164, which is $1,252 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Winston FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($6,461), Wells Fargo Bank ($7,138), NEWREZ LLC ($7,626), LOANDEPOT.COM, LLC ($7,879) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,912).

    The lowest rate Winston FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC (4.11%), DHI MORTGAGE COMPANY, LTD. (4.13%), AMERICAN FINANCIAL RESOURCES, INC. (4.30%), PENNYMAC LOAN SERVICES, LLC (4.39%) and AMERISAVE MORTGAGE CORPORATION (4.43%).

    Winston FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    WINSTON-SALEM, NC DAVIDSON 2022 $420,680 $538,650 $651,050 $809,150
    WINSTON-SALEM, NC DAVIE 2022 $420,680 $538,650 $651,050 $809,150
    WINSTON-SALEM, NC FORSYTH 2022 $420,680 $538,650 $651,050 $809,150
    WINSTON-SALEM, NC STOKES 2022 $420,680 $538,650 $651,050 $809,150
    WINSTON-SALEM, NC YADKIN 2022 $420,680 $538,650 $651,050 $809,150
    WINSTON-SALEM, NC DAVIDSON 2023 $472,030 $604,400 $730,525 $907,900
    WINSTON-SALEM, NC DAVIE 2023 $472,030 $604,400 $730,525 $907,900
    WINSTON-SALEM, NC FORSYTH 2023 $472,030 $604,400 $730,525 $907,900
    WINSTON-SALEM, NC STOKES 2023 $472,030 $604,400 $730,525 $907,900
    WINSTON-SALEM, NC YADKIN 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Winston (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 $204,529 (10.6%) $301,874 (14.5%) 0.76 2,074
    2018-02-01 $218,925 (17.2%) $312,487 (16.4%) 0.80 2,034
    2018-03-01 $228,335 (18.3%) $314,409 (13.3%) 0.80 2,104
    2018-04-01 $233,118 (17.2%) $317,961 (11.9%) 0.79 2,158
    2018-05-01 $239,371 (18.9%) $319,973 (11.1%) 0.80 2,231
    2018-06-01 $240,000 (18.6%) $319,002 (10.8%) 0.80 2,275
    2018-07-01 $243,495 (18.8%) $314,296 (6.9%) 0.81 2,351
    2018-08-01 $238,820 (19.4%) $305,456 (3.4%) 0.80 2,153
    2018-09-01 $239,000 (19.6%) $305,246 (4.2%) 0.80 2,177
    2018-10-01 $239,900 (17.9%) $304,328 (1.7%) 0.81 2,165
    2018-11-01 $232,400 (12.0%) $298,331 (-1.1%) 0.79 2,105
    2018-12-01 $229,725 (14.9%) $296,666 (-0.4%) 0.79 1,892
    2019-01-01 $234,450 (14.6%) $300,132 (-0.6%) 0.81 1,762
    2019-02-01 $242,025 (10.6%) $310,681 (-0.6%) 0.82 1,697
    2019-03-01 $250,000 (9.5%) $318,777 (1.4%) 0.83 1,786
    2019-04-01 $267,960 (15.0%) $333,617 (4.9%) 0.85 1,790
    2019-05-01 $273,575 (14.3%) $338,739 (5.9%) 0.86 1,857
    2019-06-01 $274,950 (14.6%) $343,826 (7.8%) 0.86 1,866
    2019-07-01 $275,000 (12.9%) $345,539 (9.9%) 0.86 1,841
    2019-08-01 $279,900 (17.2%) $347,217 (13.7%) 0.88 1,816
    2019-09-01 $290,001 (21.3%) $354,783 (16.2%) 0.91 1,721
    2019-10-01 $275,000 (14.6%) $347,324 (14.1%) 0.89 1,871
    2019-11-01 $274,900 (18.3%) $349,234 (17.1%) 0.90 1,785
    2019-12-01 $270,000 (17.5%) $346,538 (16.8%) 0.90 1,625
    2020-01-01 $269,950 (15.1%) $348,239 (16.0%) 0.90 1,526
    2020-02-01 $289,900 (19.8%) $368,404 (18.6%) 0.95 1,418
    2020-03-01 $288,621 (15.5%) $366,353 (14.9%) 0.90 1,441
    2020-04-01 $283,675 (5.9%) $365,482 (9.6%) 0.89 1,522
    2020-05-01 $299,850 (9.6%) $381,494 (12.6%) 0.91 1,368
    2020-06-01 $301,140 (9.5%) $390,769 (13.7%) 0.89 1,236
    2020-07-01 $309,500 (12.6%) $399,009 (15.5%) 0.90 1,116
    2020-08-01 $304,140 (8.7%) $386,893 (11.4%) 0.87 1,059
    2020-09-01 $299,400 (3.2%) $371,242 (4.6%) 0.86 1,084
    2020-10-01 $299,900 (9.1%) $375,715 (8.2%) 0.86 1,065
    2020-11-01 $279,900 (1.8%) $353,083 (1.1%) 0.82 981
    2020-12-01 $269,498 (-0.2%) $352,670 (1.8%) 0.80 890
    2021-01-01 $271,445 (0.6%) $351,149 (0.8%) 0.81 784
    2021-02-01 $280,285 (-3.3%) $362,995 (-1.5%) 0.81 682
    2021-03-01 $282,268 (-2.2%) $381,019 (4.0%) 0.80 653
    2021-04-01 $277,908 (-2.0%) $376,966 (3.1%) 0.75 644
    2021-05-01 $265,000 (-11.6%) $355,531 (-6.8%) 0.70 657
    2021-06-01 $267,450 (-11.2%) $354,700 (-9.2%) 0.70 727
    2021-07-01 $274,317 (-11.4%) $350,346 (-12.2%) 0.72 772
    2021-08-01 $267,400 (-12.1%) $341,581 (-11.7%) 0.71 817
    2021-09-01 $266,900 (-10.9%) $340,782 (-8.2%) 0.71 886
    2021-10-01 $269,900 (-10.0%) $346,146 (-7.9%) 0.72 890
    2021-11-01 $275,000 (-1.8%) $345,740 (-2.1%) 0.74 833
    2021-12-01 $269,250 (-0.1%) $341,043 (-3.3%) 0.73 696
    2022-01-01 $290,328 (7.0%) $368,731 (5.0%) 0.78 572
    2022-02-01 $292,250 (4.3%) $373,085 (2.8%) 0.76 528
    2022-03-01 $287,450 (1.8%) $367,288 (-3.6%) 0.72 567
    2022-04-01 $299,900 (7.9%) $372,589 (-1.2%) 0.71 603
    2022-05-01 $303,950 (14.7%) $375,438 (5.6%) 0.69 763
    2022-06-01 $317,425 (18.7%) $382,669 (7.9%) 0.71 838
    2022-07-01 $322,240 (17.5%) $380,464 (8.6%) 0.73 940
    2022-08-01 $321,195 (20.1%) $368,839 (8.0%) 0.74 1,017
    2022-09-01 $315,000 (18.0%) $368,249 (8.1%) 0.74 1,012
    2022-10-01 $319,995 (18.6%) $374,215 (8.1%) 0.75 1,086
    2022-11-01 $320,450 (16.5%) $374,445 (8.3%) 0.77 1,084
    2022-12-01 $320,000 (18.9%) $377,929 (10.8%) 0.79 1,036
    2023-01-01 $325,500 (12.1%) $380,865 (3.3%) 0.81 970
    2023-02-01 $329,950 (12.9%) $383,553 (2.8%) 0.80 960
    2023-03-01 $332,882 (15.8%) $383,170 (4.3%) 0.78 904
    2023-04-01 $340,000 (13.4%) $401,156 (7.7%) 0.79 900
    Winston's median listing price for 2023-04-01 was $340,000, a difference of $40,100 (13.4%) versus the prior year and $7,118 versus the prior month.

    Winston's median listing price comes in at 79% of the national average.

    Winston's average listing price for 2023-04-01 was $401,156, a difference of $28,567 (7.7%) versus the prior year and $17,986 versus the prior month.

    For the 2023-04-01 period, Winston had 900 MLS listings, a difference of -4 listings (0%) versus the prior month and 297 listings (49%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Winston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 101 days 2,002 sqft
    2018-02-01 100 days 2,107 sqft
    2018-03-01 72 days 2,139 sqft
    2018-04-01 68 days 2,165 sqft
    2018-05-01 65 days 2,201 sqft
    2018-06-01 65 days 2,222 sqft
    2018-07-01 70 days 2,248 sqft
    2018-08-01 68 days 2,215 sqft
    2018-09-01 71 days 2,208 sqft
    2018-10-01 74 days 2,174 sqft
    2018-11-01 79 days 2,109 sqft
    2018-12-01 93 days 2,079 sqft
    2019-01-01 99 days 2,082 sqft
    2019-02-01 97 days 2,136 sqft
    2019-03-01 62 days 2,138 sqft
    2019-04-01 57 days 2,254 sqft
    2019-05-01 57 days 2,138 sqft
    2019-06-01 62 days 2,435 sqft
    2019-07-01 68 days 2,389 sqft
    2019-08-01 78 days 2,455 sqft
    2019-09-01 77 days 2,474 sqft
    2019-10-01 66 days 2,372 sqft
    2019-11-01 69 days 2,360 sqft
    2019-12-01 81 days 2,308 sqft
    2020-01-01 86 days 2,263 sqft
    2020-02-01 85 days 2,332 sqft
    2020-03-01 58 days 2,298 sqft
    2020-04-01 55 days 2,523 sqft
    2020-05-01 69 days 2,589 sqft
    2020-06-01 75 days 2,595 sqft
    2020-07-01 64 days 2,701 sqft
    2020-08-01 56 days 2,570 sqft
    2020-09-01 45 days 2,552 sqft
    2020-10-01 50 days 2,510 sqft
    2020-11-01 69 days 2,426 sqft
    2020-12-01 86 days 2,093 sqft
    2021-01-01 82 days 2,294 sqft
    2021-02-01 79 days 2,038 sqft
    2021-03-01 48 days 2,207 sqft
    2021-04-01 49 days 1,840 sqft
    2021-05-01 58 days 1,887 sqft
    2021-06-01 47 days 1,891 sqft
    2021-07-01 49 days 1,826 sqft
    2021-08-01 38 days 1,924 sqft
    2021-09-01 37 days 1,888 sqft
    2021-10-01 39 days 1,873 sqft
    2021-11-01 47 days 1,824 sqft
    2021-12-01 53 days 1,794 sqft
    2022-01-01 58 days 1,777 sqft
    2022-02-01 50 days 1,629 sqft
    2022-03-01 34 days 1,860 sqft
    2022-04-01 36 days 1,950 sqft
    2022-05-01 36 days 1,950 sqft
    2022-06-01 37 days 1,996 sqft
    2022-07-01 39 days 2,057 sqft
    2022-08-01 43 days 1,969 sqft
    2022-09-01 46 days 1,950 sqft
    2022-10-01 45 days 2,000 sqft
    2022-11-01 52 days 2,102 sqft
    2022-12-01 58 days 2,100 sqft
    2023-01-01 64 days 2,100 sqft
    2023-02-01 51 days 2,233 sqft
    2023-03-01 46 days 2,182 sqft
    2023-04-01 42 days 2,164 sqft
    Winston's median listing age (time on market) for 2023-04-01 was 42 days. This is 17% longer than the same period one year ago.

    Winston's median square footage for active listings during the 2023-04-01 period was 2,164 sqft. One year prior, the average listing was 1,950 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).