Alabama FHA Loan Rates, Closing Costs & Stats

Alabama

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits

    • 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.

    Alabama FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Alabama averaged 6.47% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

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

    The average rate for the prior week (2025-03-28) was 6.27% and one month ago for the week of 2025-02-28, the average rate was 6.15%.

    The average rate one year ago was 6.57%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.25%.

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

    Alabama 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 Alabama level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 1,350 6.41% $9,690
    DHI MORTGAGE COMPANY, LTD. 1,151 4.84% $7,343
    UNITED WHOLESALE MORTGAGE, LLC 1,111 6.12% $11,328
    GUILD MORTGAGE COMPANY 565 6.49% $9,740
    First Federal Bank, A FSB 486 6.00% $9,819
    MOVEMENT MORTGAGE, LLC 474 6.56% $9,852
    Trustmark National Bank 447 6.31% $9,492
    FREEDOM MORTGAGE CORPORATION 441 6.29% $11,924
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 430 6.57% $8,676
    STOCKTON MORTGAGE CORPORATION 354 6.40% $10,554
    CANOPY MORTGAGE, LLC 341 6.31% $14,790
    Renasant Bank 318 6.28% $9,117
    BROKER SOLUTIONS, INC. 299 6.70% $10,293
    CROSSCOUNTRY MORTGAGE, LLC 289 6.46% $10,507
    PENNYMAC LOAN SERVICES, LLC 275 6.09% $9,609
    FirstBank 274 6.23% $9,606
    Regions Bank 261 6.19% $8,527
    EAGLE HOME MORTGAGE, LLC 256 4.61% $7,124
    Flagstar Bank, FSB 256 6.23% $8,411
    LOANDEPOT.COM, LLC 248 6.37% $9,925
    TOWNE MORTGAGE COMPANY 244 6.30% $9,611
    CMG MORTGAGE, INC. 211 6.44% $11,267
    SouthPoint Bank 210 6.02% $6,646
    UNION HOME MORTGAGE CORP. 186 6.52% $10,032
    Assurance Financial Group, L.L.C. 178 6.61% $8,943
    EMBRACE HOME LOANS, INC. 177 6.38% $8,707
    Synovus Bank 171 6.20% $9,078
    FBC MORTGAGE, LLC 163 5.72% $11,515
    Prosperity Home Mortgage, LLC 148 6.25% $9,255
    GMFS LLC 144 6.37% $6,768
    Mr. Cooper ( Nationstar Mortgage ) 144 6.57% $11,939
    Hamilton Mortgage Corporation 137 6.29% $8,906
    VANDERBILT MORTGAGE AND FINANCE, INC. 133 5.76% $11,427
    Ameris Bank 122 6.25% $9,240
    TJC Mortgage, Inc. 112 6.48% $9,904
    Carrington Mortgage Services, LLC 106 6.29% $11,264
    FIRST COMMUNITY MORTGAGE, INC. 101 6.37% $10,051
    NEWREZ LLC 100 6.38% $9,809
    BancorpSouth 100 6.16% $8,530
    CARDINAL FINANCIAL 99 6.41% $11,379
    South State Bank 94 6.20% $9,820
    MUTUAL OF OMAHA MORTGAGE, INC. 92 6.51% $11,895
    Plains Commerce Bank 91 6.54% $9,827
    SOUTHWEST FUNDING, LP 90 6.89% $9,381
    MORIA DEVELOPMENT, INC. 89 6.29% $9,130
    PLANET HOME LENDING, LLC 82 6.22% $7,358
    EVERETT FINANCIAL, INC. 78 6.83% $9,980
    Mortgage Research Center, LLC 78 6.65% $5,305
    United Community Bank 77 6.32% $9,113
    LAKEVIEW LOAN SERVICING, LLC 73 6.40% $8,107
    AMERISAVE MORTGAGE CORPORATION 73 6.23% $10,939
    Equity Prime Mortgage LLC 72 6.89% $11,175
    Consumer First Mortgage, Inc. 70 6.48% $9,077
    LEADERONE FINANCIAL CORPORATION 70 6.72% $9,124
    The Loan Store, Inc. 69 6.26% $10,072
    MORTGAGE INVESTORS GROUP, INC. 68 6.27% $8,659
    Bank of England 65 6.67% $10,543
    DSLD MORTGAGE, LLC 62 5.77% $6,213
    INTERLINC MORTGAGE SERVICES, LLC 62 6.88% $6,187
    Victorian Finance, LLC 61 6.46% $10,843
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 60 6.63% $10,113
    ACOPIA, LLC 57 6.62% $9,124
    MILEND, INC. 57 6.40% $12,952
    AMERICAN FINANCIAL RESOURCES, INC. 55 6.49% $10,366
    AMERICAN FINANCIAL NETWORK, INC. 54 7.24% $11,410
    HUNT MORTGAGE CORPORATION 53 6.32% $8,027
    AmeriHome Mortgage Company, LLC 53 6.51% $6,922
    FIRST COLONY MORTGAGE CORPORATION 50 6.05% $12,134
    GUARANTEED RATE, INC. 48 6.50% $10,274
    SUCCESS MORTGAGE PARTNERS, INC. 47 6.43% $10,158
    VILLAGE CAPITAL MORTGAGE 46 6.49% $6,513
    PLAZA HOME MORTGAGE, INC. 46 6.99% $9,340
    Hancock Whitney Bank 45 6.08% $7,916
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 45 6.55% $7,806
    SWBC MORTGAGE CORPORATION 45 6.54% $7,476
    Cornerstone First Mortgage, Inc 44 6.83% $9,243
    INSPIRE HOME LOANS INC. 44 5.13% $7,844
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 42 6.54% $10,671
    Magnolia Bank 42 6.48% $9,344
    ZILLOW HOME LOANS, LLC 41 6.63% $9,017
    LOANPAL, LLC 39 5.86% $9,473
    EMM LOANS LLC 39 6.31% $11,427
    REDSTONE Federal Credit Union 39 6.38% $7,107
    AMERICAN FINANCING CORPORATION 38 6.08% $11,151
    DIRECT MORTGAGE LOANS, LLC 37 6.79% $9,085
    PRIMELENDING, A PLAINSCAPITAL COMPANY 36 6.55% $9,820
    ENVOY MORTGAGE, LTD 34 6.61% $8,187
    ENDEAVOR CAPITAL, LLC. 33 6.50% $8,896
    Tyndall Federal Credit Union 32 6.08% $7,434
    Princeton Mortgage Corporation 32 6.60% $9,591
    MID AMERICA MORTGAGE, INC. 30 6.72% $8,098
    Nations Lending Corporation 29 6.75% $10,147
    Wolfe Financial, Inc 29 6.65% $11,126
    RELIANCE FIRST CAPITAL, LLC 26 6.56% $9,574
    PNC Bank 26 6.61% $7,678
    NORWICH COMMERCIAL GROUP, INC. 26 6.25% $6,062
    THE MORTGAGE FIRM, INC. 25 6.20% $8,923
    ServisFirst Bank 25 6.10% $8,616
    HOMEBRIDGE FINANCIAL SERVICES, INC. 24 6.53% $6,773
    BankPlus 24 6.18% $6,995
    Bank Independent 24 6.07% $8,090
    AMERICAN PACIFIC MORTGAGE CORPORATION 24 6.90% $10,210
    SUN WEST MORTGAGE COMPANY, INC. 23 6.64% $11,382
    First Federal Bank 23 6.61% $7,617
    CIS Financial Services, Inc. 22 6.45% $7,955
    NFM, INC. 22 6.84% $9,785
    Century Mortgage Company DBA Century Lending Company 21 6.34% $9,615
    American Mortgage & Equity Consultants, Inc. 21 7.03% $10,751
    Paramount Residential Mortgage Group, Inc. 21 6.48% $8,996
    HOMEOWNERS FINANCIAL GROUP USA, LLC 20 6.31% $11,985
    MICHIGAN MUTUAL, INC. 20 6.52% $10,331
    NATIONS DIRECT MORTGAGE, LLC 19 6.14% $12,191
    Truist 19 6.33% $8,491
    Northpointe Bank 18 6.13% $8,918
    ISERVE RESIDENTIAL LENDING, LLC 18 6.58% $18,025
    MORTGAGE SOLUTIONS OF COLORADO, LLC 18 6.99% $8,766
    HOMESIDE FINANCIAL, LLC 17 6.30% $13,681
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 17 6.73% $8,937
    Pinnacle Bank 16 6.06% $10,136
    ROYAL UNITED MORTGAGE LLC 15 6.44% $10,844
    SOUTHPOINT FINANCIAL SERVICES, INC. 15 6.46% $6,671
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 15 6.41% $9,238
    Ixonia Bank 14 6.94% $8,137
    AVADIAN 14 6.06% $10,155
    SeaTrust Mortgage Company 14 6.61% $9,697
    Wells Fargo Bank 14 6.46% $7,287
    Residential Acceptance Corporation 14 7.68% $6,890
    HOMEAMERICAN MORTGAGE CORPORATION 13 4.33% $5,582
    S1L, Inc. 13 6.30% $11,970
    The Federal Savings Bank 13 6.77% $11,828
    OCMBC, INC. 12 6.57% $13,780
    TOP FLITE FINANCIAL, INC. 12 6.95% $16,063
    Lakeview Community Capital, LLC 12 6.07% $7,316
    M&T Bank 12 6.42% $8,711
    First Horizon Bank 11 6.26% $10,386
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 11 6.28% $8,995
    RUOFF MORTGAGE COMPANY, INC. 11 6.52% $7,674
    LIBERTY HOME MORTGAGE CORPORATION 11 6.68% $13,754
    GENEVA FINANCIAL, LLC 11 6.34% $11,070
    Loan Simple, Inc. 11 7.14% $14,134
    NEW DAY FINANCIAL, LLC 10 7.60% $5,171
    KEESLER 10 5.58% $7,221
    Home Mortgage Alliance Corp 10 6.55% $9,712
    Presidential Bank, FSB 10 6.74% $8,266
    PHH Mortgage Corporation 10 6.95% $8,089
    Barrington Bank & Trust Company, N.A. 10 6.80% $9,000
    Liberty Mortgage Corporation 9 6.50% $7,232
    Keystone Funding, Inc. 9 6.75% $10,727
    LAND HOME FINANCIAL SERVICES, INC. 9 6.90% $11,155
    CONTOUR MORTGAGE CORPORATION 9 6.49% $10,632
    PREMIER MORTGAGE RESOURCES, L.L.C. 9 6.49% $8,724
    NATIONWIDE MORTGAGE BANKERS, INC. 9 6.46% $13,721
    CHURCHILL MORTGAGE CORPORATION 9 6.65% $7,705
    T2 FINANCIAL LLC 8 6.36% $13,743
    SmartBank 8 6.08% $7,885
    City National Bank of Florida 8 5.69% $7,576
    GUARANTEED RATE AFFINITY, LLC 7 6.21% $8,973
    American Mortgage Bank, LLC 7 6.21% $10,112
    JPMorgan Chase Bank 7 6.50% $6,921
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 7 6.68% $9,991
    Merchants Bank of Indiana 6 6.52% $10,346
    THE MORTGAGE LINK, INC. 6 6.83% $13,716
    POLARIS HOME FUNDING CORP. 6 6.38% $11,366
    SENTE MORTGAGE, INC. 6 6.44% $12,030
    PENTAGON FEDERAL CREDIT UNION 6 6.21% $8,216
    First Heritage Mortgage, LLC 5 5.58% $14,984
    DAS Acquisition Company, LLC 5 6.33% $11,626
    Community Bank of Mississippi 5 5.80% $10,187
    NBKC BANK 5 6.18% $8,368
    OPEN MORTGAGE, LLC 5 6.17% $14,263
    PREMIER LENDING, INC. 5 6.80% $11,097
    BETTER MORTGAGE CORPORATION 5 6.03% $11,941
    BANKSOUTH MORTGAGE COMPANY, LLC 5 6.10% $12,059
    RESIDENTIAL BANCORP 5 6.32% $15,773
    Waterstone Mortgage Corporation 5 7.38% $10,040
    ABSOLUTE HOME MORTGAGE CORPORATION 5 6.85% $10,041
    BAY EQUITY LLC 4 6.38% $7,626
    Sierra Pacific Mortgage Company, Inc. 4 6.41% $10,837
    Merchants & Marine Bank 4 6.44% $7,685
    Pen Air Federal Credit Union 4 6.72% $8,992
    CALCON MUTUAL MORTGAGE LLC 4 6.21% $14,327
    FIRST CONTINENTAL MORTGAGE, LTD. 4 5.99% $8,508
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 4 6.56% $12,860
    MLB RESIDENTIAL LENDING, LLC 4 6.50% $8,781
    CB&S Bank, Inc. 4 6.50% $7,893
    EVANSVILLE TEACHERS 4 6.22% $9,143
    BAYSHORE MORTGAGE FUNDING, LLC 4 7.00% $8,867
    EUSTIS AND AMERICAN MORTGAGE COMPANY 3 6.83% $11,180
    SUMMIT FUNDING, INC. 3 6.88% $7,303
    Arvest Bank 3 6.25% $9,176
    OCEANSIDE MORTGAGE COMPANY 3 5.87% $3,258
    Legends Bank 3 6.00% $5,405
    CITY FIRST MORTGAGE SERVICES, L.L.C. 3 6.21% $15,606
    AMERITRUST MORTGAGE CORPORATION 3 7.41% $10,292
    JMAC LENDING, INC. 3 5.92% $13,171
    ALLIED MORTGAGE GROUP, INC. 3 6.42% $5,627
    NEXERA HOLDING LLC 3 6.08% $7,137
    Valley National Bank 3 6.33% $6,421
    Alcova Mortgage LLC 3 6.92% $8,738
    Citizens Bank 3 6.54% $6,539
    V.I.P. MORTGAGE, INC. 3 6.12% $10,734
    ALAMEDA MORTGAGE CORPORATION 3 6.08% $13,376
    ROSS MORTGAGE CORPORATION 2 7.00% $11,508
    FLAT BRANCH MORTGAGE, INC. 2 6.50% $9,297
    First Option Mortgage, LLC 2 6.88% $14,040
    Old National Bank 2 5.69% $10,387
    SIRVA MORTGAGE, INC. 2 6.94% $4,115
    SOUTHWEST STAGE FUNDING, LLC 2 5.88% $7,052
    Bank of America 2 6.94% $10,803
    Listerhill Credit Union 2 6.38% $8,919
    Texana Bank 2 6.25% $15,747
    The Central Trust Bank 2 5.81% $11,285
    COMPASS MORTGAGE, INC. 2 6.50% $11,824
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 7.19% $8,172
    Goldwater Bank, N.A. 2 6.50% $16,288
    Granite Community Bank 2 5.75% $10,521
    PACIFIC RESIDENTIAL MORTGAGE, LLC 2 6.31% $10,499
    Gateway First Bank 2 6.50% $9,693
    Total Media Management, LLC 2 6.81% $8,948
    FIDELITY BANK 2 6.69% $9,449
    Citibank 2 6.75% $7,162
    VAN DYK MORTGAGE CORPORATION 2 7.38% $7,901
    NETWORK CAPITAL FUNDING CORPORATION 1 6.25% $9,967
    MSA MORTGAGE, LLC 1 6.00% $8,233
    US MORTGAGE CORPORATION 1 7.13% $13,317
    Mortgage Lenders Investment Trading Corporation 1 7.25% $8,036
    Mortgage Assurance Inc. 1 5.88% $9,033
    Acre Mortgage and Financial Inc 1 6.63% $16,499
    Orion Federal Credit Union 1 6.00% $6,688
    MORTGAGE ACCESS CORP. 1 6.25% $12,595
    Patriot Bank 1 6.75% $7,988
    CITYWIDE HOME LOANS, LLC 1 5.75% $14,241
    Colony Bank 1 6.13% $7,003
    Centennial Bank 1 6.63% $6,699
    Capital City Home Loans, LLC 1 6.25% $8,714
    MEMBER FIRST MORTGAGE, LLC 1 7.13% $8,378
    COMMUNITY MORTGAGE CORPORATION 1 5.99% $7,743
    PREMIA MORTGAGE, LLC 1 6.13% $5,826
    BECKAM FUNDING CORP. 1 7.50% $9,793
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.75% $7,697
    FIRST STATE MORTGAGE SERVICES, LLC 1 6.75% $6,880
    LEGEND LENDING CORPORATION 1 7.13% $10,081
    Wilmington Savings Fund Society, FSB 1 6.25% $9,089
    Legacy Home Loans, LLC 1 6.25% $5,289
    CORNERSTONE HOME LENDING, INC. 1 6.63% $7,790
    DATA MORTGAGE, INC. 1 6.25% $7,234
    DELMAR FINANCIAL COMPANY 1 6.50% $10,273
    DIRECT LENDERS, LLC 1 6.75% $4,129
    Hometown Equity Mortgage, LLC 1 7.50% $9,806
    HOMESTEAD FUNDING CORP. 1 7.13% $6,485
    Gulf Coast Bank and Trust Company 1 6.63% $9,597
    Evolve Bank & Trust 1 5.75% $12,323
    AXIA FINANCIAL, LLC 1 6.88% $14,393
    Stride Bank 1 6.75% $10,184
    GSF Mortgage Corporation 1 8.63% $7,230
    Atlantic Coast Mortgage, LLC 1 5.25% $15,584
    GoPrime Mortgage, Inc. 1 7.13% $6,241
    ARC HOME LLC 1 6.00% $9,477
    Fifth Third Bank 1 7.00% $6,604
    AmRes Corporation 1 6.25% $10,437
    TOTAL MORTGAGE SERVICES, LLC 1 7.25% $21,912
    Towne Bank 1 6.25% $11,856
    First Citizens National Bank 1 6.38% $9,357
    Flanagan State Bank 1 6.75% $14,725
    Union Savings Bank 1 7.00% $5,529
    UNITED MORTGAGE CORP 1 7.25% $12,059
    1ST SIGNATURE LENDING, LLC 1 7.13% $23,062
    NATIONS RELIABLE LENDING, LLC 1 6.63% $18,282
    NASA Federal Credit Union 1 6.25% $11,110
    NBH Bank 1 5.25% $5,709

    The top Alabama FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,350 FHA loans originated. Their average total fees are $9,690, which is $2,347 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Alabama FHA lenders (with over 10 loans originated) are NEW DAY FINANCIAL, LLC ($5,171), Mortgage Research Center, LLC ($5,305), HOMEAMERICAN MORTGAGE CORPORATION ($5,582), NORWICH COMMERCIAL GROUP, INC. ($6,062) and INTERLINC MORTGAGE SERVICES, LLC ($6,187).

    The lowest rate Alabama FHA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION (4.33%), EAGLE HOME MORTGAGE, LLC (4.61%), DHI MORTGAGE COMPANY, LTD. (4.84%), INSPIRE HOME LOANS INC. (5.13%) and KEESLER (5.58%).

    Alabama FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    MONTGOMERY, AL AUTAUGA 2022 $420,680 $538,650 $651,050 $809,150
    DAPHNE-FAIRHOPE-FOLEY, AL BALDWIN 2022 $420,680 $538,650 $651,050 $809,150
    EUFAULA, AL-GA BARBOUR 2022 $420,680 $538,650 $651,050 $809,150
    BIRMINGHAM-HOOVER, AL BIBB 2022 $420,680 $538,650 $651,050 $809,150
    BIRMINGHAM-HOOVER, AL BLOUNT 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BULLOCK 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BUTLER 2022 $420,680 $538,650 $651,050 $809,150
    ANNISTON-OXFORD, AL CALHOUN 2022 $420,680 $538,650 $651,050 $809,150
    LAGRANGE, GA-AL CHAMBERS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CHEROKEE 2022 $420,680 $538,650 $651,050 $809,150
    BIRMINGHAM-HOOVER, AL CHILTON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CHOCTAW 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CLARKE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CLAY 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CLEBURNE 2022 $420,680 $538,650 $651,050 $809,150
    ENTERPRISE, AL COFFEE 2022 $420,680 $538,650 $651,050 $809,150
    FLORENCE-MUSCLE SHOALS, AL COLBERT 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CONECUH 2022 $420,680 $538,650 $651,050 $809,150
    ALEXANDER CITY, AL COOSA 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO COVINGTON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CRENSHAW 2022 $420,680 $538,650 $651,050 $809,150
    CULLMAN, AL CULLMAN 2022 $420,680 $538,650 $651,050 $809,150
    OZARK, AL DALE 2022 $420,680 $538,650 $651,050 $809,150
    SELMA, AL DALLAS 2022 $420,680 $538,650 $651,050 $809,150
    FORT PAYNE, AL DEKALB 2022 $420,680 $538,650 $651,050 $809,150
    MONTGOMERY, AL ELMORE 2022 $420,680 $538,650 $651,050 $809,150
    ATMORE, AL ESCAMBIA 2022 $420,680 $538,650 $651,050 $809,150
    GADSDEN, AL ETOWAH 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO FAYETTE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
    DOTHAN, AL GENEVA 2022 $420,680 $538,650 $651,050 $809,150
    TUSCALOOSA, AL GREENE 2022 $420,680 $538,650 $651,050 $809,150
    TUSCALOOSA, AL HALE 2022 $420,680 $538,650 $651,050 $809,150
    DOTHAN, AL HENRY 2022 $420,680 $538,650 $651,050 $809,150
    DOTHAN, AL HOUSTON 2022 $420,680 $538,650 $651,050 $809,150
    SCOTTSBORO, AL JACKSON 2022 $420,680 $538,650 $651,050 $809,150
    BIRMINGHAM-HOOVER, AL JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LAMAR 2022 $420,680 $538,650 $651,050 $809,150
    FLORENCE-MUSCLE SHOALS, AL LAUDERDALE 2022 $420,680 $538,650 $651,050 $809,150
    DECATUR, AL LAWRENCE 2022 $420,680 $538,650 $651,050 $809,150
    AUBURN-OPELIKA, AL LEE 2022 $420,680 $538,650 $651,050 $809,150
    HUNTSVILLE, AL LIMESTONE 2022 $420,680 $538,650 $651,050 $809,150
    MONTGOMERY, AL LOWNDES 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MACON 2022 $420,680 $538,650 $651,050 $809,150
    HUNTSVILLE, AL MADISON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MARENGO 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MARION 2022 $420,680 $538,650 $651,050 $809,150
    ALBERTVILLE, AL MARSHALL 2022 $420,680 $538,650 $651,050 $809,150
    MOBILE, AL MOBILE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MONROE 2022 $420,680 $538,650 $651,050 $809,150
    MONTGOMERY, AL MONTGOMERY 2022 $420,680 $538,650 $651,050 $809,150
    DECATUR, AL MORGAN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO PERRY 2022 $420,680 $538,650 $651,050 $809,150
    TUSCALOOSA, AL PICKENS 2022 $420,680 $538,650 $651,050 $809,150
    TROY, AL PIKE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO RANDOLPH 2022 $420,680 $538,650 $651,050 $809,150
    COLUMBUS, GA-AL RUSSELL 2022 $420,680 $538,650 $651,050 $809,150
    BIRMINGHAM-HOOVER, AL ST. CLAIR 2022 $420,680 $538,650 $651,050 $809,150
    BIRMINGHAM-HOOVER, AL SHELBY 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO SUMTER 2022 $420,680 $538,650 $651,050 $809,150
    TALLADEGA-SYLACAUGA, AL TALLADEGA 2022 $420,680 $538,650 $651,050 $809,150
    ALEXANDER CITY, AL TALLAPOOSA 2022 $420,680 $538,650 $651,050 $809,150
    TUSCALOOSA, AL TUSCALOOSA 2022 $420,680 $538,650 $651,050 $809,150
    JASPER, AL WALKER 2022 $420,680 $538,650 $651,050 $809,150
    MOBILE, AL WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WILCOX 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WINSTON 2022 $420,680 $538,650 $651,050 $809,150
    MONTGOMERY, AL AUTAUGA 2023 $472,030 $604,400 $730,525 $907,900
    DAPHNE-FAIRHOPE-FOLEY, AL BALDWIN 2023 $472,030 $604,400 $730,525 $907,900
    EUFAULA, AL-GA BARBOUR 2023 $472,030 $604,400 $730,525 $907,900
    BIRMINGHAM-HOOVER, AL BIBB 2023 $472,030 $604,400 $730,525 $907,900
    BIRMINGHAM-HOOVER, AL BLOUNT 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BULLOCK 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BUTLER 2023 $472,030 $604,400 $730,525 $907,900
    ANNISTON-OXFORD, AL CALHOUN 2023 $472,030 $604,400 $730,525 $907,900
    LAGRANGE, GA-AL CHAMBERS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CHEROKEE 2023 $472,030 $604,400 $730,525 $907,900
    BIRMINGHAM-HOOVER, AL CHILTON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CHOCTAW 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CLARKE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CLAY 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CLEBURNE 2023 $472,030 $604,400 $730,525 $907,900
    ENTERPRISE, AL COFFEE 2023 $472,030 $604,400 $730,525 $907,900
    FLORENCE-MUSCLE SHOALS, AL COLBERT 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CONECUH 2023 $472,030 $604,400 $730,525 $907,900
    ALEXANDER CITY, AL COOSA 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO COVINGTON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CRENSHAW 2023 $472,030 $604,400 $730,525 $907,900
    CULLMAN, AL CULLMAN 2023 $472,030 $604,400 $730,525 $907,900
    OZARK, AL DALE 2023 $472,030 $604,400 $730,525 $907,900
    SELMA, AL DALLAS 2023 $472,030 $604,400 $730,525 $907,900
    FORT PAYNE, AL DEKALB 2023 $472,030 $604,400 $730,525 $907,900
    MONTGOMERY, AL ELMORE 2023 $472,030 $604,400 $730,525 $907,900
    ATMORE, AL ESCAMBIA 2023 $472,030 $604,400 $730,525 $907,900
    GADSDEN, AL ETOWAH 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO FAYETTE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO FRANKLIN 2023 $472,030 $604,400 $730,525 $907,900
    DOTHAN, AL GENEVA 2023 $472,030 $604,400 $730,525 $907,900
    TUSCALOOSA, AL GREENE 2023 $472,030 $604,400 $730,525 $907,900
    TUSCALOOSA, AL HALE 2023 $472,030 $604,400 $730,525 $907,900
    DOTHAN, AL HENRY 2023 $472,030 $604,400 $730,525 $907,900
    DOTHAN, AL HOUSTON 2023 $472,030 $604,400 $730,525 $907,900
    SCOTTSBORO, AL JACKSON 2023 $472,030 $604,400 $730,525 $907,900
    BIRMINGHAM-HOOVER, AL JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LAMAR 2023 $472,030 $604,400 $730,525 $907,900
    FLORENCE-MUSCLE SHOALS, AL LAUDERDALE 2023 $472,030 $604,400 $730,525 $907,900
    DECATUR, AL LAWRENCE 2023 $472,030 $604,400 $730,525 $907,900
    AUBURN-OPELIKA, AL LEE 2023 $472,030 $604,400 $730,525 $907,900
    HUNTSVILLE, AL LIMESTONE 2023 $472,030 $604,400 $730,525 $907,900
    MONTGOMERY, AL LOWNDES 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MACON 2023 $472,030 $604,400 $730,525 $907,900
    HUNTSVILLE, AL MADISON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MARENGO 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MARION 2023 $472,030 $604,400 $730,525 $907,900
    ALBERTVILLE, AL MARSHALL 2023 $472,030 $604,400 $730,525 $907,900
    MOBILE, AL MOBILE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MONROE 2023 $472,030 $604,400 $730,525 $907,900
    MONTGOMERY, AL MONTGOMERY 2023 $472,030 $604,400 $730,525 $907,900
    DECATUR, AL MORGAN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO PERRY 2023 $472,030 $604,400 $730,525 $907,900
    TUSCALOOSA, AL PICKENS 2023 $472,030 $604,400 $730,525 $907,900
    TROY, AL PIKE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO RANDOLPH 2023 $472,030 $604,400 $730,525 $907,900
    COLUMBUS, GA-AL RUSSELL 2023 $472,030 $604,400 $730,525 $907,900
    BIRMINGHAM-HOOVER, AL ST. CLAIR 2023 $472,030 $604,400 $730,525 $907,900
    BIRMINGHAM-HOOVER, AL SHELBY 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO SUMTER 2023 $472,030 $604,400 $730,525 $907,900
    TALLADEGA-SYLACAUGA, AL TALLADEGA 2023 $472,030 $604,400 $730,525 $907,900
    ALEXANDER CITY, AL TALLAPOOSA 2023 $472,030 $604,400 $730,525 $907,900
    TUSCALOOSA, AL TUSCALOOSA 2023 $472,030 $604,400 $730,525 $907,900
    JASPER, AL WALKER 2023 $472,030 $604,400 $730,525 $907,900
    MOBILE, AL WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WILCOX 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WINSTON 2023 $472,030 $604,400 $730,525 $907,900

    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).