Winston FHA Loan Rates, Closing Costs & Stats
WINSTON-SALEM, NC
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 180 lenders originated 2,947 FHA loans during 2021. The total origination value was $562,105,000, with an average FHA loan value of $190,738.
Winston FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Winston
averaged
6.35%
for the week of 2022-12-02, compared to the national average (all FHA variants) of
6.466% for the same period.
Winston's average FHA mortgage closing costs are $6,051.
The average rate for the prior week (2022-11-25) was
6.47% and
one month ago for the week of 2022-10-28, the
average rate was 6.71%.
The average rate one year ago was 3.24%.
For refis of the same type during the week of 2022-12-02, the average rate
was 6.32%.
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.
The top Winston FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
438 FHA loans originated. Their average total fees are
$5,927, which is $818
lower than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee Winston FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE ($2,406), Mr. Cooper ( Nationstar Mortgage ) ($3,311), LAKEVIEW LOAN SERVICING, LLC ($4,025), Lakeview Community Capital, LLC ($4,060) and NEWREZ LLC ($4,152).
The lowest rate Winston FHA lenders (with over 10 loans originated) are
PLAZA HOME MORTGAGE, INC. (2.68%), QUICKEN LOANS, LLC (2.72%), UNITED WHOLESALE MORTGAGE, LLC (2.76%), DHI MORTGAGE COMPANY, LTD. (2.76%) and InterContinental Capital Group, Inc (2.77%).
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 |
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%) | 0.79 | 2,034 |
| 2018-03-01 | $228,335 (18.2%) | $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 (11.2%) | 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 | $229,900 (15.0%) | $296,701 (-0.4%) | 0.79 | 1,891 |
| 2019-01-01 | $234,675 (14.7%) | $300,206 (-0.6%) | 0.81 | 1,762 |
| 2019-02-01 | $242,440 (10.7%) | $310,806 (-0.5%) | 0.82 | 1,697 |
| 2019-03-01 | $255,471 (11.9%) | $322,113 (2.5%) | 0.84 | 1,754 |
| 2019-04-01 | $268,267 (15.1%) | $333,688 (5.0%) | 0.85 | 1,793 |
| 2019-05-01 | $273,725 (14.4%) | $338,731 (5.9%) | 0.86 | 1,860 |
| 2019-06-01 | $275,000 (14.6%) | $343,713 (7.8%) | 0.86 | 1,869 |
| 2019-07-01 | $275,000 (12.9%) | $345,423 (9.9%) | 0.86 | 1,844 |
| 2019-08-01 | $276,847 (15.9%) | $345,101 (13.0%) | 0.88 | 1,863 |
| 2019-09-01 | $274,368 (14.8%) | $344,680 (12.9%) | 0.88 | 1,898 |
| 2019-10-01 | $273,995 (14.2%) | $347,262 (14.1%) | 0.88 | 1,901 |
| 2019-11-01 | $274,900 (18.3%) | $349,033 (17.0%) | 0.90 | 1,790 |
| 2019-12-01 | $270,000 (17.4%) | $346,330 (16.7%) | 0.90 | 1,630 |
| 2020-01-01 | $269,950 (15.0%) | $348,008 (15.9%) | 0.90 | 1,531 |
| 2020-02-01 | $289,900 (19.6%) | $368,142 (18.5%) | 0.95 | 1,420 |
| 2020-03-01 | $288,588 (13.0%) | $366,043 (13.6%) | 0.90 | 1,443 |
| 2020-04-01 | $283,613 (5.7%) | $365,135 (9.4%) | 0.89 | 1,525 |
| 2020-05-01 | $299,500 (9.4%) | $381,073 (12.5%) | 0.91 | 1,371 |
| 2020-06-01 | $300,217 (9.2%) | $390,288 (13.6%) | 0.88 | 1,239 |
| 2020-07-01 | $309,358 (12.5%) | $398,478 (15.4%) | 0.90 | 1,119 |
| 2020-08-01 | $300,516 (8.6%) | $386,289 (11.9%) | 0.86 | 1,061 |
| 2020-09-01 | $299,000 (9.0%) | $370,703 (7.6%) | 0.86 | 1,087 |
| 2020-10-01 | $299,900 (9.5%) | $375,217 (8.1%) | 0.86 | 1,070 |
| 2020-11-01 | $279,675 (1.7%) | $352,590 (1.0%) | 0.82 | 984 |
| 2020-12-01 | $269,450 (-0.2%) | $352,269 (1.7%) | 0.80 | 894 |
| 2021-01-01 | $271,445 (0.6%) | $350,870 (0.8%) | 0.81 | 788 |
| 2021-02-01 | $280,285 (-3.3%) | $362,300 (-1.6%) | 0.81 | 686 |
| 2021-03-01 | $282,248 (-2.2%) | $380,248 (3.9%) | 0.80 | 658 |
| 2021-04-01 | $278,548 (-1.8%) | $376,381 (3.1%) | 0.75 | 648 |
| 2021-05-01 | $265,000 (-11.5%) | $355,098 (-6.8%) | 0.70 | 660 |
| 2021-06-01 | $267,450 (-10.9%) | $354,014 (-9.3%) | 0.70 | 731 |
| 2021-07-01 | $274,317 (-11.3%) | $349,850 (-12.2%) | 0.72 | 776 |
| 2021-08-01 | $267,400 (-11.0%) | $341,104 (-11.7%) | 0.71 | 822 |
| 2021-09-01 | $267,900 (-10.4%) | $340,613 (-8.1%) | 0.71 | 890 |
| 2021-10-01 | $269,900 (-10.0%) | $346,302 (-7.7%) | 0.72 | 897 |
| 2021-11-01 | $275,000 (-1.7%) | $345,330 (-2.1%) | 0.73 | 840 |
| 2021-12-01 | $269,448 (0.0%) | $340,633 (-3.3%) | 0.73 | 703 |
| 2022-01-01 | $290,328 (7.0%) | $368,018 (4.9%) | 0.78 | 579 |
| 2022-02-01 | $292,375 (4.3%) | $372,351 (2.8%) | 0.76 | 536 |
| 2022-03-01 | $287,450 (1.8%) | $367,104 (-3.5%) | 0.72 | 576 |
| 2022-04-01 | $299,900 (7.7%) | $371,849 (-1.2%) | 0.72 | 610 |
| 2022-05-01 | $303,095 (14.4%) | $374,963 (5.6%) | 0.69 | 768 |
| 2022-06-01 | $317,400 (18.7%) | $382,174 (8.0%) | 0.71 | 844 |
| 2022-07-01 | $320,000 (16.7%) | $379,996 (8.6%) | 0.72 | 943 |
| 2022-08-01 | $318,643 (19.2%) | $368,146 (7.9%) | 0.74 | 1,022 |
| 2022-09-01 | $314,950 (17.6%) | $367,582 (7.9%) | 0.74 | 1,017 |
| 2022-10-01 | $319,990 (18.6%) | $373,616 (7.9%) | 0.75 | 1,097 |
| 2022-11-01 | $320,075 (16.4%) | $373,767 (8.2%) | 0.77 | 1,091 |
Winston's median listing price comes in at 77% of the national average.
Winston's average listing price for 2022-11-01 was $373,767, a difference of $28,437 (8.2%) versus the prior year and $151 versus the prior month.
For the 2022-11-01 period, Winston had 1,091 MLS listings, a difference of -6 listings (-1%) versus the prior month and 251 listings (30%) 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 | 1,997 sqft |
| 2018-02-01 | 100 days | 2,102 sqft |
| 2018-03-01 | 72 days | 2,135 sqft |
| 2018-04-01 | 68 days | 2,161 sqft |
| 2018-05-01 | 65 days | 2,197 sqft |
| 2018-06-01 | 65 days | 2,218 sqft |
| 2018-07-01 | 70 days | 2,245 sqft |
| 2018-08-01 | 68 days | 2,216 sqft |
| 2018-09-01 | 71 days | 2,209 sqft |
| 2018-10-01 | 74 days | 2,174 sqft |
| 2018-11-01 | 79 days | 2,109 sqft |
| 2018-12-01 | 93 days | 2,080 sqft |
| 2019-01-01 | 99 days | 2,085 sqft |
| 2019-02-01 | 97 days | 2,139 sqft |
| 2019-03-01 | 78 days | 2,192 sqft |
| 2019-04-01 | 58 days | 2,208 sqft |
| 2019-05-01 | 57 days | 2,133 sqft |
| 2019-06-01 | 62 days | 2,345 sqft |
| 2019-07-01 | 68 days | 2,242 sqft |
| 2019-08-01 | 70 days | 2,244 sqft |
| 2019-09-01 | 67 days | 2,233 sqft |
| 2019-10-01 | 65 days | 2,246 sqft |
| 2019-11-01 | 71 days | 2,270 sqft |
| 2019-12-01 | 81 days | 2,233 sqft |
| 2020-01-01 | 86 days | 2,137 sqft |
| 2020-02-01 | 86 days | 2,184 sqft |
| 2020-03-01 | 59 days | 2,149 sqft |
| 2020-04-01 | 55 days | 2,468 sqft |
| 2020-05-01 | 70 days | 2,577 sqft |
| 2020-06-01 | 75 days | 2,591 sqft |
| 2020-07-01 | 65 days | 2,742 sqft |
| 2020-08-01 | 57 days | 2,504 sqft |
| 2020-09-01 | 45 days | 2,441 sqft |
| 2020-10-01 | 50 days | 2,492 sqft |
| 2020-11-01 | 71 days | 2,347 sqft |
| 2020-12-01 | 87 days | 1,950 sqft |
| 2021-01-01 | 85 days | 2,050 sqft |
| 2021-02-01 | 79 days | 1,934 sqft |
| 2021-03-01 | 48 days | 1,994 sqft |
| 2021-04-01 | 50 days | 1,836 sqft |
| 2021-05-01 | 60 days | 1,997 sqft |
| 2021-06-01 | 48 days | 1,887 sqft |
| 2021-07-01 | 50 days | 1,848 sqft |
| 2021-08-01 | 38 days | 1,870 sqft |
| 2021-09-01 | 37 days | 1,853 sqft |
| 2021-10-01 | 39 days | 1,804 sqft |
| 2021-11-01 | 47 days | 1,797 sqft |
| 2021-12-01 | 53 days | 1,773 sqft |
| 2022-01-01 | 59 days | 1,752 sqft |
| 2022-02-01 | 51 days | 1,721 sqft |
| 2022-03-01 | 34 days | 1,892 sqft |
| 2022-04-01 | 36 days | 1,916 sqft |
| 2022-05-01 | 36 days | 1,969 sqft |
| 2022-06-01 | 37 days | 1,982 sqft |
| 2022-07-01 | 39 days | 2,057 sqft |
| 2022-08-01 | 43 days | 1,934 sqft |
| 2022-09-01 | 46 days | 1,947 sqft |
| 2022-10-01 | 45 days | 1,994 sqft |
| 2022-11-01 | 52 days | 2,100 sqft |
Winston's median square footage for active listings during the 2022-11-01 period was 2,100 sqft. One year prior, the average listing was 1,797 sqft.
