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 149 lenders originated 2,078 FHA loans during 2023. The total origination value was $481,180,000, with an average FHA loan value of $231,559.

Winston FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Winston averaged 6.52% for the week of 2024-06-07, compared to the national average (all FHA variants) of 6.692% for the same period.

Winston's average FHA mortgage closing costs are $7,197.

The average rate for the prior week (2024-05-31) was 6.6% and one month ago for the week of 2024-05-03, the average rate was 6.7%.

The average rate one year ago was 6.67%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.53%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 273 6.19% $10,042
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 161 6.66% $10,972
DHI MORTGAGE COMPANY, LTD. 128 5.39% $7,446
MOVEMENT MORTGAGE, LLC 119 6.66% $10,847
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 110 6.73% $9,438
UNITED WHOLESALE MORTGAGE, LLC 72 6.17% $12,311
INSPIRE HOME LOANS INC. 62 6.00% $8,647
CARDINAL FINANCIAL 60 6.74% $13,439
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 57 6.73% $9,804
CROSSCOUNTRY MORTGAGE, LLC 33 6.78% $10,559
UNION HOME MORTGAGE CORP. 31 6.95% $9,981
BROKER SOLUTIONS, INC. 30 6.81% $10,766
LOANDEPOT.COM, LLC 30 6.39% $10,395
FREEDOM MORTGAGE CORPORATION 30 6.93% $13,558
CMG MORTGAGE, INC. 27 6.60% $10,439
VANDERBILT MORTGAGE AND FINANCE, INC. 27 5.72% $15,355
GUARANTEED RATE, INC. 26 6.31% $10,999
Mr. Cooper ( Nationstar Mortgage ) 24 6.02% $13,266
AMERISAVE MORTGAGE CORPORATION 22 6.14% $13,340
HOMESIDE FINANCIAL, LLC 22 6.64% $11,712
Ameris Bank 21 6.55% $8,573
Carrington Mortgage Services, LLC 20 6.44% $8,853
Truist 17 6.31% $7,859
INTERCOASTAL MORTGAGE COMPANY 17 6.44% $10,186
EVERETT FINANCIAL, INC. 17 6.85% $10,098
NEWREZ LLC 15 6.30% $9,859
Atlantic Coast Mortgage, LLC 15 6.96% $9,543
Prosperity Home Mortgage, LLC 14 6.37% $12,669
PENNYMAC LOAN SERVICES, LLC 14 6.25% $12,139
PULTE MORTGAGE LLC 14 5.21% $8,419
ACADEMY MORTGAGE CORPORATION 12 6.97% $10,268
CORNERSTONE HOME LENDING, INC. 12 6.54% $11,701
MORTGAGE SOLUTIONS OF COLORADO, LLC 12 7.21% $8,785
LAKEVIEW LOAN SERVICING, LLC 11 6.13% $10,222
MUTUAL OF OMAHA MORTGAGE, INC. 11 6.58% $10,998
Equity Prime Mortgage LLC 9 6.74% $12,161
U.S. Bank 9 6.74% $6,797
PLAZA HOME MORTGAGE, INC. 9 6.46% $15,294
Truliant Federal Credit Union 8 6.09% $8,410
HOWARD HANNA FINANCIAL SERVICES, INC. 8 7.03% $8,979
LOANPAL, LLC 8 5.95% $11,683
EMM LOANS LLC 7 6.21% $12,618
Blue Ridge Bank 7 6.78% $7,707
AMERICAN FINANCING CORPORATION 7 6.05% $12,192
TOP FLITE FINANCIAL, INC. 6 6.67% $15,108
Wells Fargo Bank 6 5.88% $8,595
RELIANCE FIRST CAPITAL, LLC 6 6.77% $14,781
Nations Lending Corporation 6 6.88% $9,694
The Fidelity Bank 5 6.80% $9,286
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 6.80% $8,175
VILLAGE CAPITAL MORTGAGE 5 6.58% $6,708
Flagstar Bank, FSB 5 7.03% $11,381
GUILD MORTGAGE COMPANY 5 6.78% $8,295
Mortgage Research Center, LLC 5 7.18% $6,911
First Bank 5 5.72% $7,650
THRIVE MORTGAGE, LLC 5 6.88% $11,801
TOWNE MORTGAGE COMPANY 5 7.03% $10,333
HALLMARK HOME MORTGAGE, LLC 4 7.00% $9,512
Wolfe Financial, Inc 4 6.84% $6,245
AMERICAN FINANCIAL NETWORK, INC. 4 7.06% $11,252
The Federal Savings Bank 4 6.09% $16,924
Shamrock Home Loans, Inc. 4 6.94% $8,445
SeaTrust Mortgage Company 4 6.75% $8,801
RAPID MORTGAGE COMPANY 4 6.16% $13,351
Northpointe Bank 4 6.31% $9,427
American Mortgage & Equity Consultants, Inc. 4 6.84% $8,417
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.78% $10,021
Pinnacle Bank 4 6.56% $8,720
MDE Home Loans, LLC 4 6.47% $10,980
MILEND, INC. 4 6.88% $12,619
MORTGAGE FINANCIAL GROUP, INC. 4 6.28% $13,065
T2 FINANCIAL LLC 3 6.71% $11,397
American Security Mortgage Corp. 3 6.96% $8,499
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.13% $11,998
Victorian Finance, LLC 3 6.75% $11,318
First Federal Bank 3 6.50% $6,157
First-Citizens Bank & Trust Company 3 6.88% $8,383
MLD MORTGAGE INC. 3 6.21% $7,478
M&T Bank 3 6.33% $7,459
NBKC BANK 3 5.92% $10,925
PHH Mortgage Corporation 3 7.63% $6,732
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.79% $12,128
BAY EQUITY LLC 3 6.66% $11,025
NATIONS DIRECT MORTGAGE, LLC 3 6.54% $7,440
First National Bank of Pennsylvania 3 5.88% $7,111
First Horizon Bank 3 6.88% $9,578
SUN WEST MORTGAGE COMPANY, INC. 3 6.08% $10,972
Towne Bank 3 7.04% $13,266
GENEVA FINANCIAL, LLC 2 6.94% $12,760
Bank of America 2 6.38% $12,367
Bank of England 2 6.94% $10,185
Barrington Bank & Trust Company, N.A. 2 6.50% $10,646
CERTAINTY HOME LOANS, LLC 2 6.00% $9,440
CHURCHILL MORTGAGE CORPORATION 2 6.56% $10,730
EQUITY RESOURCES, INC. 2 6.94% $9,022
Integrity Home Mortgage Corp 2 7.44% $11,111
LADERA LENDING, INC. 2 6.19% $9,615
NFM, INC. 2 6.63% $8,473
ON Q FINANCIAL, INC. 2 6.13% $13,302
Paramount Residential Mortgage Group, Inc. 2 6.75% $11,730
PENTAGON FEDERAL CREDIT UNION 2 6.13% $10,604
PLANET HOME LENDING, LLC 2 5.81% $7,220
RADIUS FINANCIAL GROUP INC. 2 6.63% $6,304
Regions Bank 2 6.75% $9,795
SUCCESS MORTGAGE PARTNERS, INC. 2 6.69% $10,723
US MORTGAGE CORPORATION 2 6.94% $10,391
ZILLOW HOME LOANS, LLC 2 6.56% $9,514
LEADERONE FINANCIAL CORPORATION 1 6.99% $11,941
Plains Commerce Bank 1 6.63% $12,461
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $13,284
Lakeview Community Capital, LLC 1 6.25% $6,518
PLUS RELOCATION MORTGAGE, LLC 1 6.25% $11,835
Keystone Funding, Inc. 1 6.13% $9,704
JET HOMELOANS, LLC 1 5.50% $15,525
HOMESTAR FINANCIAL CORPORATION 1 6.75% $4,663
HOMESPIRE MORTGAGE CORPORATION 1 7.13% $9,155
GUARANTEED RATE AFFINITY, LLC 1 7.25% $7,966
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.50% $7,912
GoPrime Mortgage, Inc. 1 6.50% $12,488
AMERICAN FINANCIAL RESOURCES, INC. 1 6.63% $6,112
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.13% $7,221
Renasant Bank 1 6.00% $10,421
ROYAL UNITED MORTGAGE LLC 1 6.25% $10,898
ABSOLUTE HOME MORTGAGE CORPORATION 1 6.50% $8,983
First Savings Bank 1 5.50% $14,036
SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.75% $14,821
Strong Home Mortgage, LLC 1 6.75% $8,693
AMCAP MORTGAGE, LTD. 1 6.75% $11,659
FIRST HOME MORTGAGE CORPORATION 1 6.63% $9,856
First Heritage Mortgage, LLC 1 7.25% $11,276
FIRST COMMUNITY MORTGAGE, INC. 1 7.25% $17,666
Evolve Bank & Trust 1 7.00% $15,155
ENVOY MORTGAGE, LTD 1 7.25% $8,167
EMBRACE HOME LOANS, INC. 1 6.25% $6,395
East Coast Capital Corp. 1 6.25% $12,756
EAGLE HOME MORTGAGE, LLC 1 4.63% $8,003
Corporate Investors Mortgage Group, Inc. 1 6.13% $7,906
CONTOUR MORTGAGE CORPORATION 1 5.50% $15,643
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.13% $16,167
NETWORK CAPITAL FUNDING CORPORATION 1 7.25% $7,089
NATIONWIDE MORTGAGE BANKERS, INC. 1 7.25% $9,095
BETTER MORTGAGE CORPORATION 1 5.00% $9,422
MY MORTGAGE, INC. 1 6.63% $10,124
OCEANSIDE MORTGAGE COMPANY 1 7.00% $5,776
AXIA FINANCIAL, LLC 1 6.75% $9,540
Alcova Mortgage LLC 1 7.38% $14,085
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.75% $10,797
Uwharrie Bank 1 7.25% $6,309
MANN FINANCIAL INC. 1 7.00% $8,273

The top Winston FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 273 FHA loans originated. Their average total fees are $10,042, which is $930 lower than the next largest lender, ATLANTIC BAY MORTGAGE GROUP, L.L.C..

The lowest fee Winston FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($7,446), Truist ($7,859), PULTE MORTGAGE LLC ($8,419), Ameris Bank ($8,573) and INSPIRE HOME LOANS INC. ($8,647).

The lowest rate Winston FHA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC (5.21%), DHI MORTGAGE COMPANY, LTD. (5.39%), VANDERBILT MORTGAGE AND FINANCE, INC. (5.72%), INSPIRE HOME LOANS INC. (6.00%) and Mr. Cooper ( Nationstar Mortgage ) (6.02%).

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 $204,150 (10.4%) $301,976 (14.5%) 0.76 2,077
2018-02-01 $218,675 (17.1%) $312,575 (16.3%) 0.79 2,037
2018-03-01 $228,118 (18.2%) $314,482 (13.3%) 0.80 2,107
2018-04-01 $233,009 (17.2%) $318,006 (11.9%) 0.79 2,161
2018-05-01 $239,371 (18.5%) $319,988 (11.1%) 0.80 2,233
2018-06-01 $240,000 (18.6%) $319,048 (10.7%) 0.80 2,275
2018-07-01 $243,950 (19.1%) $316,025 (7.4%) 0.81 2,351
2018-08-01 $238,923 (19.5%) $305,813 (3.5%) 0.80 2,154
2018-09-01 $239,000 (19.6%) $305,604 (4.2%) 0.80 2,179
2018-10-01 $239,900 (17.8%) $304,662 (1.8%) 0.81 2,167
2018-11-01 $232,400 (12.0%) $298,707 (-1.1%) 0.79 2,106
2018-12-01 $229,900 (15.0%) $297,114 (-0.3%) 0.79 1,892
2019-01-01 $234,900 (15.1%) $300,710 (-0.4%) 0.81 1,764
2019-02-01 $242,730 (11.0%) $311,317 (-0.4%) 0.82 1,699
2019-03-01 $255,471 (12.0%) $322,534 (2.6%) 0.84 1,755
2019-04-01 $267,950 (15.0%) $333,948 (5.0%) 0.85 1,793
2019-05-01 $273,825 (14.4%) $339,026 (6.0%) 0.86 1,856
2019-06-01 $275,000 (14.6%) $343,994 (7.8%) 0.86 1,866
2019-07-01 $275,588 (13.0%) $345,941 (9.5%) 0.86 1,843
2019-08-01 $277,444 (16.1%) $345,619 (13.0%) 0.88 1,862
2019-09-01 $275,110 (15.1%) $345,198 (13.0%) 0.88 1,896
2019-10-01 $274,407 (14.4%) $347,791 (14.2%) 0.89 1,899
2019-11-01 $274,900 (18.3%) $349,504 (17.0%) 0.90 1,785
2019-12-01 $270,000 (17.4%) $346,730 (16.7%) 0.90 1,625
2020-01-01 $269,950 (14.9%) $348,500 (15.9%) 0.90 1,526
2020-02-01 $289,990 (19.5%) $368,872 (18.5%) 0.95 1,416
2020-03-01 $288,678 (13.0%) $366,811 (13.7%) 0.90 1,438
2020-04-01 $283,881 (6.0%) $365,810 (9.5%) 0.89 1,521
2020-05-01 $299,900 (9.5%) $381,858 (12.6%) 0.91 1,367
2020-06-01 $301,359 (9.6%) $391,174 (13.7%) 0.89 1,235
2020-07-01 $309,500 (12.3%) $399,454 (15.5%) 0.90 1,114
2020-08-01 $303,390 (9.4%) $387,190 (12.0%) 0.87 1,057
2020-09-01 $299,200 (8.8%) $371,559 (7.6%) 0.86 1,083
2020-10-01 $299,900 (9.3%) $376,131 (8.2%) 0.86 1,065
2020-11-01 $279,448 (1.7%) $352,933 (1.0%) 0.82 979
2020-12-01 $269,450 (-0.2%) $353,106 (1.8%) 0.80 890
2021-01-01 $271,445 (0.6%) $351,824 (1.0%) 0.81 784
2021-02-01 $279,975 (-3.5%) $362,784 (-1.7%) 0.82 680
2021-03-01 $282,370 (-2.2%) $380,519 (3.7%) 0.80 652
2021-04-01 $277,741 (-2.2%) $376,873 (3.0%) 0.75 642
2021-05-01 $265,000 (-11.6%) $355,587 (-6.9%) 0.70 655
2021-06-01 $267,450 (-11.3%) $354,478 (-9.4%) 0.70 726
2021-07-01 $274,317 (-11.4%) $350,241 (-12.3%) 0.72 771
2021-08-01 $267,400 (-11.9%) $341,469 (-11.8%) 0.71 818
2021-09-01 $267,900 (-10.5%) $340,921 (-8.3%) 0.71 887
2021-10-01 $269,900 (-10.0%) $346,703 (-7.8%) 0.72 895
2021-11-01 $275,000 (-1.6%) $345,773 (-2.0%) 0.74 840
2021-12-01 $269,448 (0.0%) $341,111 (-3.4%) 0.73 701
2022-01-01 $290,328 (7.0%) $368,879 (4.9%) 0.78 571
2022-02-01 $293,995 (5.0%) $373,396 (2.9%) 0.76 533
2022-03-01 $287,450 (1.8%) $367,860 (-3.3%) 0.72 570
2022-04-01 $299,900 (8.0%) $372,557 (-1.2%) 0.71 604
2022-05-01 $303,984 (14.7%) $375,745 (5.7%) 0.69 762
2022-06-01 $317,475 (18.7%) $382,925 (8.0%) 0.71 838
2022-07-01 $320,000 (16.7%) $380,434 (8.6%) 0.72 937
2022-08-01 $320,493 (19.9%) $368,682 (8.0%) 0.74 1,016
2022-09-01 $315,000 (17.6%) $368,033 (8.0%) 0.74 1,011
2022-10-01 $320,000 (18.6%) $374,143 (7.9%) 0.75 1,091
2022-11-01 $320,200 (16.4%) $374,202 (8.2%) 0.77 1,087
2022-12-01 $319,997 (18.8%) $378,199 (10.9%) 0.79 1,037
2023-01-01 $325,000 (11.9%) $379,661 (2.9%) 0.81 971
2023-02-01 $329,787 (12.2%) $382,763 (2.5%) 0.80 960
2023-03-01 $332,882 (15.8%) $382,988 (4.1%) 0.79 904
2023-04-01 $339,900 (13.3%) $400,796 (7.6%) 0.79 899
2023-05-01 $345,899 (13.8%) $406,287 (8.1%) 0.78 873
2023-06-01 $340,659 (7.3%) $419,543 (9.6%) 0.77 888
2023-07-01 $340,000 (6.3%) $428,936 (12.8%) 0.77 895
2023-08-01 $339,898 (6.1%) $427,265 (15.9%) 0.78 960
2023-09-01 $331,508 (5.2%) $415,131 (12.8%) 0.77 1,042
2023-10-01 $335,000 (4.7%) $413,178 (10.4%) 0.79 1,099
2023-11-01 $334,950 (4.6%) $405,060 (8.3%) 0.80 1,180
2023-12-01 $329,995 (3.1%) $397,435 (5.1%) 0.80 1,181
2024-01-01 $335,000 (3.1%) $398,574 (5.0%) 0.82 1,079
2024-02-01 $329,325 (-0.1%) $394,296 (3.0%) 0.79 1,061
2024-03-01 $335,000 (0.6%) $407,946 (6.5%) 0.79 1,096
2024-04-01 $337,450 (-0.7%) $416,221 (3.9%) 0.78 1,142
2024-05-01 $357,945 (3.5%) $432,797 (6.5%) 0.81 1,167
Winston's median listing price for 2024-05-01 was $357,945, a difference of $12,046 (3.5%) versus the prior year and $20,495 versus the prior month.

Winston's median listing price comes in at 81% of the national average.

Winston's average listing price for 2024-05-01 was $432,797, a difference of $26,510 (6.5%) versus the prior year and $16,576 versus the prior month.

For the 2024-05-01 period, Winston had 1,167 MLS listings, a difference of 25 listings (2%) versus the prior month and 294 listings (34%) 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 92 days 2,053 sqft
2018-02-01 86 days 2,112 sqft
2018-03-01 60 days 2,141 sqft
2018-04-01 59 days 2,170 sqft
2018-05-01 58 days 2,204 sqft
2018-06-01 58 days 2,222 sqft
2018-07-01 66 days 2,250 sqft
2018-08-01 65 days 2,216 sqft
2018-09-01 65 days 2,209 sqft
2018-10-01 70 days 2,175 sqft
2018-11-01 75 days 2,108 sqft
2018-12-01 85 days 2,079 sqft
2019-01-01 94 days 2,084 sqft
2019-02-01 92 days 2,137 sqft
2019-03-01 71 days 2,155 sqft
2019-04-01 54 days 2,135 sqft
2019-05-01 52 days 2,079 sqft
2019-06-01 58 days 2,296 sqft
2019-07-01 64 days 2,245 sqft
2019-08-01 64 days 2,250 sqft
2019-09-01 61 days 2,250 sqft
2019-10-01 59 days 2,256 sqft
2019-11-01 65 days 2,250 sqft
2019-12-01 76 days 2,208 sqft
2020-01-01 80 days 2,148 sqft
2020-02-01 79 days 2,114 sqft
2020-03-01 52 days 2,107 sqft
2020-04-01 50 days 2,294 sqft
2020-05-01 64 days 2,524 sqft
2020-06-01 69 days 2,590 sqft
2020-07-01 57 days 2,702 sqft
2020-08-01 51 days 2,518 sqft
2020-09-01 41 days 2,535 sqft
2020-10-01 46 days 2,482 sqft
2020-11-01 63 days 2,386 sqft
2020-12-01 79 days 1,925 sqft
2021-01-01 78 days 2,008 sqft
2021-02-01 73 days 1,998 sqft
2021-03-01 45 days 2,104 sqft
2021-04-01 45 days 1,847 sqft
2021-05-01 51 days 1,924 sqft
2021-06-01 44 days 1,827 sqft
2021-07-01 46 days 1,840 sqft
2021-08-01 37 days 1,892 sqft
2021-09-01 36 days 1,892 sqft
2021-10-01 38 days 1,893 sqft
2021-11-01 45 days 1,891 sqft
2021-12-01 52 days 1,795 sqft
2022-01-01 57 days 1,808 sqft
2022-02-01 48 days 1,777 sqft
2022-03-01 32 days 1,936 sqft
2022-04-01 35 days 1,986 sqft
2022-05-01 35 days 1,994 sqft
2022-06-01 37 days 2,081 sqft
2022-07-01 39 days 2,117 sqft
2022-08-01 43 days 1,993 sqft
2022-09-01 45 days 1,982 sqft
2022-10-01 44 days 2,104 sqft
2022-11-01 51 days 2,110 sqft
2022-12-01 58 days 2,108 sqft
2023-01-01 63 days 2,167 sqft
2023-02-01 48 days 2,194 sqft
2023-03-01 45 days 2,178 sqft
2023-04-01 40 days 2,192 sqft
2023-05-01 46 days 2,157 sqft
2023-06-01 44 days 2,164 sqft
2023-07-01 43 days 2,083 sqft
2023-08-01 42 days 2,124 sqft
2023-09-01 42 days 2,083 sqft
2023-10-01 42 days 2,083 sqft
2023-11-01 44 days 2,049 sqft
2023-12-01 51 days 2,006 sqft
2024-01-01 60 days 1,977 sqft
2024-02-01 48 days 1,932 sqft
2024-03-01 44 days 1,774 sqft
2024-04-01 43 days 1,789 sqft
2024-05-01 41 days 1,847 sqft
Winston's median listing age (time on market) for 2024-05-01 was 41 days. This is -10% shorter than the same period one year ago.

Winston's median square footage for active listings during the 2024-05-01 period was 1,847 sqft. One year prior, the average listing was 2,157 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).