Charleston FHA Loan Rates, Closing Costs & Stats

CHARLESTON-NORTH CHARLESTON, SC

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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.

    Charleston's 183 lenders originated 3,456 FHA loans during 2024. The total origination value was $1,134,180,000, with an average FHA loan value of $328,177.

    Charleston FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Charleston averaged 6.5% for the week of 2025-07-18, compared to the national average (all FHA variants) of 6.527% for the same period.

    Charleston's average FHA mortgage closing costs are $9,633.

    The average rate for the prior week (2025-07-11) was 6.5% and one month ago for the week of 2025-06-13, the average rate was 6.56%.

    The average rate one year ago was 6.52%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.12%.

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

    Charleston 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 Charleston level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 270 4.74% $8,850
    UNITED WHOLESALE MORTGAGE, LLC 253 6.12% $14,254
    EAGLE HOME MORTGAGE, LLC 191 5.90% $15,239
    VELOCIO MORTGAGE L.L.C. 177 4.94% $10,981
    QUICKEN LOANS, LLC 174 6.17% $13,683
    NATION ONE MORTGAGE CORPORATION 98 6.34% $17,731
    FREEDOM MORTGAGE CORPORATION 90 6.30% $14,641
    MOVEMENT MORTGAGE, LLC 84 6.23% $14,082
    CROSSCOUNTRY MORTGAGE, LLC 81 6.40% $13,445
    CMG MORTGAGE, INC. 77 6.54% $13,180
    DIRECT MORTGAGE LOANS, LLC 75 6.27% $13,941
    CAROLINA ONE MORTGAGE, LLC 73 6.41% $13,204
    Ameris Bank 72 6.07% $14,261
    CALCON MUTUAL MORTGAGE LLC 68 6.20% $14,073
    SENTE MORTGAGE, INC. 66 6.31% $14,131
    LOANDEPOT.COM, LLC 57 6.19% $13,379
    VANDERBILT MORTGAGE AND FINANCE, INC. 54 6.10% $14,495
    PENNYMAC LOAN SERVICES, LLC 53 5.96% $12,946
    GUILD MORTGAGE COMPANY 44 6.48% $14,066
    HOMESIDE FINANCIAL, LLC 39 6.32% $14,554
    PULTE MORTGAGE LLC 39 4.72% $8,175
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 37 6.53% $13,204
    NEWREZ LLC 37 6.54% $12,469
    JET HOMELOANS, LLC 34 5.79% $13,365
    PRIMELENDING, A PLAINSCAPITAL COMPANY 31 6.45% $12,360
    Atlantic Coast Mortgage, LLC 28 6.46% $13,317
    AMERICAN FINANCIAL NETWORK, INC. 28 6.45% $15,353
    BROKER SOLUTIONS, INC. 27 6.47% $12,333
    PLAZA HOME MORTGAGE, INC. 27 6.46% $14,112
    Equity Prime Mortgage LLC 22 6.79% $15,594
    GUARANTEED RATE, INC. 19 6.42% $13,949
    LAKEVIEW LOAN SERVICING, LLC 19 6.32% $10,063
    Carrington Mortgage Services, LLC 18 6.35% $15,600
    INTERLINC MORTGAGE SERVICES, LLC 17 6.60% $8,566
    First-Citizens Bank & Trust Company 17 5.57% $10,231
    South State Bank 15 6.01% $10,793
    Mr. Cooper ( Nationstar Mortgage ) 15 6.60% $12,027
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 15 6.47% $9,490
    First Heritage Mortgage, LLC 15 5.41% $12,075
    FIRST HOME MORTGAGE CORPORATION 15 6.73% $13,786
    GARDNER FINANCIAL SERVICES, LTD. 14 6.29% $15,818
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 14 6.23% $14,284
    Princeton Mortgage Corporation 14 6.55% $12,318
    The Loan Store, Inc. 13 6.15% $15,830
    AMERISAVE MORTGAGE CORPORATION 12 6.05% $16,780
    Prosperity Home Mortgage, LLC 11 6.48% $12,132
    Mortgage Lenders Investment Trading Corporation 11 6.59% $16,237
    FBC MORTGAGE, LLC 10 4.99% $10,388
    Integrity Home Mortgage Corp 10 6.29% $16,001
    MUTUAL OF OMAHA MORTGAGE, INC. 9 6.67% $15,192
    MID AMERICA MORTGAGE, INC. 9 6.92% $10,283
    Alcova Mortgage LLC 9 6.43% $7,426
    United Community Bank 9 5.96% $13,799
    AmeriHome Mortgage Company, LLC 9 6.76% $6,510
    TOWNE MORTGAGE COMPANY 9 6.61% $11,343
    CARDINAL FINANCIAL 9 6.36% $13,101
    Renasant Bank 9 6.78% $13,341
    Paramount Residential Mortgage Group, Inc. 9 6.36% $14,383
    GUARANTEED RATE AFFINITY, LLC 9 6.69% $11,943
    CITY FIRST MORTGAGE SERVICES, L.L.C. 8 6.58% $13,084
    PREMIA MORTGAGE, LLC 8 6.06% $8,883
    Towne Bank 7 5.29% $13,369
    UNION HOME MORTGAGE CORP. 7 6.59% $12,456
    NVR Mortgage Finance, Inc. 7 5.61% $12,194
    Regions Bank 7 6.21% $15,429
    Flagstar Bank, FSB 7 6.45% $13,909
    Plains Commerce Bank 7 5.71% $15,199
    Fifth Third Bank 7 6.27% $12,249
    Mortgage Assurance Inc. 7 5.95% $22,138
    LEGEND LENDING CORPORATION 7 6.45% $18,301
    Lakeview Community Capital, LLC 7 6.32% $8,357
    VILLAGE CAPITAL MORTGAGE 7 6.21% $9,368
    NATIONS DIRECT MORTGAGE, LLC 7 6.66% $11,587
    AMERICAN FINANCIAL RESOURCES, INC. 7 6.05% $12,549
    PRIMARY RESIDENTIAL MORTGAGE, INC. 6 6.19% $9,539
    LOANPAL, LLC 6 5.85% $10,649
    NORWICH COMMERCIAL GROUP, INC. 6 5.98% $10,913
    DELMAR FINANCIAL COMPANY 6 6.56% $11,540
    UNITED MORTGAGE CORP 6 6.83% $16,348
    MORTGAGE SOLUTIONS OF COLORADO, LLC 6 6.92% $15,560
    RELIANCE FIRST CAPITAL, LLC 5 6.43% $13,858
    HOMEOWNERS FINANCIAL GROUP USA, LLC 5 6.50% $15,647
    RESOURCE FINANCIAL SERVICES, INC. 5 6.33% $13,124
    LADERA LENDING, INC. 5 6.65% $13,639
    NBKC BANK 5 6.13% $10,537
    MILEND, INC. 5 6.38% $13,386
    Northpointe Bank 5 5.90% $12,345
    Century Mortgage Company DBA Century Lending Company 5 6.00% $15,606
    Truist 5 6.46% $16,872
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 6.53% $15,403
    ZILLOW HOME LOANS, LLC 4 6.69% $11,657
    ABSOLUTE HOME MORTGAGE CORPORATION 4 6.41% $12,254
    AFFORDABLE MORTGAGE ADVISORS, LLC. 4 6.72% $9,049
    GSF Mortgage Corporation 4 6.34% $17,293
    Mortgage Research Center, LLC 4 6.72% $8,270
    Nations Lending Corporation 4 6.22% $14,111
    PHH Mortgage Corporation 4 6.09% $16,748
    Southern First Bank 4 5.94% $12,871
    T2 FINANCIAL LLC 4 6.03% $14,236
    TBI MORTGAGE COMPANY 4 6.25% $16,822
    United Bank 4 5.84% $9,964
    VERITAS FUNDING, LLC 4 6.47% $19,177
    NFM, INC. 3 7.13% $14,212
    Residential Mortgage Solutions, Inc. 3 6.29% $13,039
    TIDEWATER MORTGAGE SERVICES, INC. 3 6.88% $12,612
    MICHIGAN MUTUAL, INC. 3 6.42% $12,157
    MID-ISLAND MORTGAGE CORP. 3 6.04% $12,992
    ServisFirst Bank 3 5.83% $13,023
    AMERICAN FINANCING CORPORATION 3 6.08% $12,749
    BAY EQUITY LLC 2 5.75% $13,956
    GENEVA FINANCIAL, LLC 2 6.50% $8,820
    TOP FLITE FINANCIAL, INC. 2 6.62% $16,432
    Capital City Home Loans, LLC 2 6.38% $15,154
    OCMBC, INC. 2 6.88% $8,951
    Assurance Financial Group, L.L.C. 2 6.38% $13,557
    JPMorgan Chase Bank 2 6.69% $6,498
    SeaTrust Mortgage Company 2 6.13% $12,342
    Wells Fargo Bank 2 6.06% $9,097
    OPEN MORTGAGE, LLC 2 6.25% $9,729
    NATIONWIDE MORTGAGE BANKERS, INC. 2 7.06% $11,560
    CAPITAL CENTER, L.L.C. 2 6.25% $7,463
    First Palmetto Bank 2 6.19% $9,628
    INTERCOASTAL MORTGAGE COMPANY 2 6.19% $9,771
    SUN WEST MORTGAGE COMPANY, INC. 2 5.54% $21,970
    Pinnacle Bank 2 6.75% $12,575
    Synovus Bank 2 6.00% $10,136
    First Option Mortgage, LLC 2 8.25% $19,672
    PLANET HOME LENDING, LLC 2 6.38% $13,215
    East Coast Capital Corp. 2 6.50% $13,428
    CHURCHILL MORTGAGE CORPORATION 1 7.00% $9,989
    RESIDENTIAL BANCORP 1 5.50% $11,346
    RUOFF MORTGAGE COMPANY, INC. 1 5.63% $12,996
    Sandy Spring Bank 1 5.99% $10,043
    Security Federal Bank 1 6.50% $12,905
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.50% $8,115
    Sierra Pacific Mortgage Company, Inc. 1 6.13% $18,110
    1ST SIGNATURE LENDING, LLC 1 6.50% $14,902
    SOUTHERN TRUST MORTGAGE, LLC 1 6.13% $18,372
    Capital Bank 1 6.63% $11,423
    SOUTHWEST STAGE FUNDING, LLC 1 5.38% $7,773
    SWBC MORTGAGE CORPORATION 1 6.75% $6,218
    ACOPIA, LLC 1 7.13% $10,645
    V.I.P. MORTGAGE, INC. 1 6.00% $15,572
    The Federal Savings Bank 1 6.50% $12,798
    Bank of America 1 6.38% $11,571
    BancorpSouth 1 6.38% $8,236
    Trustmark National Bank 1 5.88% $13,842
    Arvest Bank 1 5.50% $13,664
    LAND HOME FINANCIAL SERVICES, INC. 1 7.00% $13,502
    American Mortgage & Equity Consultants, Inc. 1 6.75% $18,568
    American Mortgage Bank, LLC 1 6.25% $12,156
    Magnolia Bank 1 6.75% $8,293
    LIBERTY HOME MORTGAGE CORPORATION 1 7.50% $12,825
    MORTGAGE EQUITY PARTNERS LLC 1 6.63% $15,005
    MORTGAGE INVESTORS GROUP, INC. 1 6.13% $12,038
    LENOX FINANCIAL MORTGAGE CORPORATION 1 6.38% $13,191
    American Security Mortgage Corp. 1 6.88% $7,862
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 1 6.50% $10,099
    Home Mortgage Alliance Corp 1 5.75% $11,879
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.75% $13,424
    VAN DYK MORTGAGE CORPORATION 1 7.63% $14,402
    NBH Bank 1 6.75% $11,131
    HALLMARK HOME MORTGAGE, LLC 1 7.13% $6,978
    NEW DAY FINANCIAL, LLC 1 7.00% $4,127
    GVC MORTGAGE, INC. 1 7.00% $6,900
    NJ LENDERS CORP. 1 6.00% $23,375
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.13% $12,488
    Fulton Bank 1 6.13% $10,689
    OCEANSIDE MORTGAGE COMPANY 1 5.75% $7,138
    Old National Bank 1 6.13% $8,826
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.75% $12,109
    FREEDOM FIRST 1 6.13% $7,158
    PENTAGON FEDERAL CREDIT UNION 1 6.25% $9,106
    A&D Mortgage LLC 1 5.50% $22,673
    FIRST COMMUNITY MORTGAGE, INC. 1 6.63% $20,541
    First Community Bank 1 6.75% $13,959
    FIRST COLONY MORTGAGE CORPORATION 1 6.00% $9,813
    FirstBank 1 5.63% $19,474
    Evolve Bank & Trust 1 6.00% $10,719
    EVERETT FINANCIAL, INC. 1 7.25% $18,382
    EMM LOANS LLC 1 6.13% $14,836
    DEVELOPER'S MORTGAGE COMPANY 1 6.75% $13,368
    CORNERSTONE HOME LENDING, INC. 1 5.50% $14,914

    The top Charleston FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 270 FHA loans originated. Their average total fees are $8,850, which is $5,404 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Charleston FHA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC ($8,175), INTERLINC MORTGAGE SERVICES, LLC ($8,566), DHI MORTGAGE COMPANY, LTD. ($8,850), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($9,490) and LAKEVIEW LOAN SERVICING, LLC ($10,063).

    The lowest rate Charleston FHA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC (4.72%), DHI MORTGAGE COMPANY, LTD. (4.74%), VELOCIO MORTGAGE L.L.C. (4.94%), FBC MORTGAGE, LLC (4.99%) and First Heritage Mortgage, LLC (5.41%).

    Charleston FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CHARLESTON-NORTH CHARLESTON, SC BERKELEY 2022 $473,800 $606,550 $733,150 $911,150
    CHARLESTON-NORTH CHARLESTON, SC CHARLESTON 2022 $473,800 $606,550 $733,150 $911,150
    CHARLESTON-NORTH CHARLESTON, SC DORCHESTER 2022 $473,800 $606,550 $733,150 $911,150
    CHARLESTON-NORTH CHARLESTON, SC BERKELEY 2023 $538,200 $689,000 $832,850 $1,035,000
    CHARLESTON-NORTH CHARLESTON, SC CHARLESTON 2023 $538,200 $689,000 $832,850 $1,035,000
    CHARLESTON-NORTH CHARLESTON, SC DORCHESTER 2023 $538,200 $689,000 $832,850 $1,035,000

    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).