Raleigh FHA Loan Rates, Closing Costs & Stats

RALEIGH-CARY, 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.

    Raleigh's 206 lenders originated 3,667 FHA loans during 2024. The total origination value was $1,255,105,000, with an average FHA loan value of $342,270.

    Raleigh FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Raleigh averaged 6.52% for the week of 2025-07-18, compared to the national average (all FHA variants) of 6.527% for the same period.

    Raleigh's average FHA mortgage closing costs are $9,197.

    The average rate for the prior week (2025-07-11) was 6.52% and one month ago for the week of 2025-06-13, the average rate was 6.47%.

    The average rate one year ago was 6.63%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.34%.

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

    Raleigh 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 Raleigh level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 270 6.17% $13,297
    NVR Mortgage Finance, Inc. 206 5.99% $13,655
    UNITED WHOLESALE MORTGAGE, LLC 200 6.04% $13,701
    DHI MORTGAGE COMPANY, LTD. 121 4.85% $9,047
    LOANDEPOT.COM, LLC 112 5.60% $13,502
    VELOCIO MORTGAGE L.L.C. 111 4.87% $9,047
    MOVEMENT MORTGAGE, LLC 111 6.31% $13,488
    FREEDOM MORTGAGE CORPORATION 104 6.36% $14,641
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 100 6.61% $11,163
    EAGLE HOME MORTGAGE, LLC 97 5.65% $8,300
    VANDERBILT MORTGAGE AND FINANCE, INC. 79 5.57% $17,119
    American Security Mortgage Corp. 77 6.25% $11,990
    CROSSCOUNTRY MORTGAGE, LLC 68 6.50% $13,095
    CORNERSTONE HOME LENDING, INC. 66 6.38% $14,932
    PENNYMAC LOAN SERVICES, LLC 66 6.09% $12,132
    NFM, INC. 65 6.38% $13,737
    BROKER SOLUTIONS, INC. 51 6.48% $12,809
    KBHS HOME LOANS, LLC 49 5.50% $11,334
    PULTE MORTGAGE LLC 47 5.32% $8,540
    ZILLOW HOME LOANS, LLC 42 6.11% $13,271
    Truist 41 6.19% $12,324
    FIRST HOME MORTGAGE CORPORATION 40 6.49% $12,663
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 39 6.45% $12,675
    NEWREZ LLC 37 6.30% $12,281
    Mr. Cooper ( Nationstar Mortgage ) 32 6.43% $15,062
    North State Bank 32 6.20% $10,837
    Towne Bank 27 5.79% $13,885
    First-Citizens Bank & Trust Company 27 5.41% $11,327
    SeaTrust Mortgage Company 24 6.41% $11,662
    INTERCOASTAL MORTGAGE COMPANY 24 6.70% $9,359
    GUILD MORTGAGE COMPANY 23 6.37% $12,991
    Alcova Mortgage LLC 23 6.41% $10,056
    GoPrime Mortgage, Inc. 23 6.72% $12,635
    FBC MORTGAGE, LLC 23 5.59% $11,387
    Lakeview Community Capital, LLC 22 6.26% $8,999
    GUARANTEED RATE, INC. 22 6.37% $13,152
    LAKEVIEW LOAN SERVICING, LLC 22 6.28% $9,526
    JET HOMELOANS, LLC 22 5.54% $11,036
    Carrington Mortgage Services, LLC 21 6.37% $12,146
    Towne Mortgage of the Carolinas, LLC 21 6.36% $12,717
    First Heritage Mortgage, LLC 21 6.12% $12,890
    United Community Bank 21 6.42% $10,150
    VILLAGE CAPITAL MORTGAGE 21 6.53% $8,151
    SUMMIT FUNDING, INC. 20 6.42% $12,364
    CMG MORTGAGE, INC. 20 6.26% $12,583
    Prosperity Home Mortgage, LLC 18 6.33% $12,585
    CARDINAL FINANCIAL 17 6.27% $11,375
    UNION HOME MORTGAGE CORP. 17 6.28% $13,342
    AMERISAVE MORTGAGE CORPORATION 17 6.01% $15,038
    RELIANCE FIRST CAPITAL, LLC 17 6.54% $14,217
    LOANPAL, LLC 16 5.85% $12,895
    PRIMARY RESIDENTIAL MORTGAGE, INC. 16 6.41% $14,685
    Flagstar Bank, FSB 16 5.98% $13,071
    MUTUAL OF OMAHA MORTGAGE, INC. 16 6.56% $16,689
    MATTAMY HOME FUNDING, LLC 16 5.69% $10,153
    PRIMELENDING, A PLAINSCAPITAL COMPANY 14 5.28% $10,489
    AmeriHome Mortgage Company, LLC 13 6.60% $9,326
    South Pacific Financial Corporation 11 5.52% $8,255
    MILEND, INC. 11 6.43% $19,675
    CITY FIRST MORTGAGE SERVICES, L.L.C. 11 6.25% $13,803
    Corporate Investors Mortgage Group, Inc. 11 6.14% $12,864
    T2 FINANCIAL LLC 11 6.67% $11,380
    DELMAR FINANCIAL COMPANY 10 6.38% $11,246
    M/I FINANCIAL, LLC 9 5.51% $19,013
    Equity Prime Mortgage LLC 9 6.50% $12,552
    The Federal Savings Bank 9 6.82% $10,237
    HOMESIDE FINANCIAL, LLC 9 6.11% $13,228
    AMERICAN FINANCIAL NETWORK, INC. 8 7.03% $17,245
    PLAZA HOME MORTGAGE, INC. 8 6.23% $12,429
    Blue Ridge Bank 8 6.63% $11,571
    EQUITY RESOURCES, INC. 7 6.68% $10,676
    SUN WEST MORTGAGE COMPANY, INC. 7 6.20% $16,499
    City Lending Inc. 7 6.82% $14,069
    V.I.P. MORTGAGE, INC. 7 6.54% $10,251
    Northpointe Bank 7 6.20% $9,995
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 5.89% $13,962
    NBKC BANK 6 6.25% $8,844
    BAYSHORE MORTGAGE FUNDING, LLC 6 6.73% $12,039
    Wells Fargo Bank 6 5.81% $17,307
    UNIVERSITY Federal Credit Union 6 6.02% $13,615
    Century Mortgage Company DBA Century Lending Company 6 6.50% $14,196
    The Central Trust Bank 6 6.52% $10,769
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 6 5.95% $12,425
    AMERICAN FINANCING CORPORATION 6 5.52% $15,271
    MORTGAGE SOLUTIONS OF COLORADO, LLC 6 6.69% $17,229
    HOMESPIRE MORTGAGE CORPORATION 6 6.71% $18,441
    PENTAGON FEDERAL CREDIT UNION 5 6.08% $14,068
    Plains Commerce Bank 5 6.08% $12,137
    Bank of America 5 6.18% $13,371
    ALLIED MORTGAGE GROUP, INC. 5 6.10% $10,814
    Fifth Third Bank 5 6.67% $9,043
    MID AMERICA MORTGAGE, INC. 5 6.85% $8,025
    EMM LOANS LLC 5 6.04% $14,859
    BAY EQUITY LLC 5 6.22% $12,346
    SFMC, LP 5 6.80% $17,190
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 6.31% $11,813
    Encompass Lending Group, LP 4 6.53% $12,390
    ABSOLUTE HOME MORTGAGE CORPORATION 4 7.06% $19,441
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 6.06% $11,387
    Integrity Home Mortgage Corp 4 6.59% $10,567
    LAND HOME FINANCIAL SERVICES, INC. 4 7.50% $17,056
    Mortgage Research Center, LLC 4 6.59% $8,743
    Nations Lending Corporation 4 6.09% $14,447
    OCMBC, INC. 4 6.72% $16,048
    Paramount Residential Mortgage Group, Inc. 4 6.34% $17,101
    PLANET HOME LENDING, LLC 4 6.63% $17,231
    SOUTHERN TRUST MORTGAGE, LLC 4 6.38% $13,138
    The Loan Store, Inc. 4 6.34% $11,176
    FIRST COMMUNITY MORTGAGE, INC. 3 6.58% $18,181
    CHURCHILL MORTGAGE CORPORATION 3 6.67% $15,311
    Strong Home Mortgage, LLC 3 5.96% $11,071
    CAPITAL CENTER, L.L.C. 3 6.13% $7,848
    BETTER MORTGAGE CORPORATION 3 6.17% $9,882
    ACOPIA, LLC 3 6.54% $16,252
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.38% $11,990
    Franklin Loan Corporation 3 5.83% $17,406
    MICHIGAN MUTUAL, INC. 3 5.75% $12,617
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.46% $10,088
    VERITAS FUNDING, LLC 3 6.54% $18,726
    American Mortgage & Equity Consultants, Inc. 3 6.83% $15,287
    PNC Bank 3 6.71% $12,450
    JMAC LENDING, INC. 2 6.44% $18,034
    OPEN MORTGAGE, LLC 2 7.25% $14,886
    FIRST ALLIANCE HOME MORTGAGE, LLC 2 5.38% $15,740
    PANORAMA MORTGAGE GROUP, LLC 2 7.25% $9,781
    Cornerstone First Mortgage, Inc 2 5.88% $16,669
    NATIONWIDE MORTGAGE BANKERS, INC. 2 6.69% $11,883
    TOWNE MORTGAGE COMPANY 2 5.63% $9,459
    BECKAM FUNDING CORP. 2 7.75% $17,550
    Loan Simple, Inc. 2 7.00% $14,752
    Performance Financial, Inc. 2 6.81% $12,549
    RESIDENTIAL BANCORP 2 6.19% $11,799
    FIRST EQUITY MORTGAGE INCORPORATED 2 5.50% $12,230
    SIRVA MORTGAGE, INC. 2 6.69% $8,012
    FIRST COLONY MORTGAGE CORPORATION 2 6.38% $8,042
    PHH Mortgage Corporation 2 6.24% $13,110
    STOCKTON MORTGAGE CORPORATION 2 6.69% $12,247
    Ameris Bank 2 6.13% $15,674
    SUCCESS MORTGAGE PARTNERS, INC. 2 7.00% $13,351
    U.S. Bank 2 6.06% $14,534
    Presidential Bank, FSB 2 6.69% $13,464
    Victorian Finance, LLC 2 6.69% $11,630
    CALCON MUTUAL MORTGAGE LLC 2 6.25% $20,342
    HOWARD HANNA FINANCIAL SERVICES, INC. 2 6.00% $12,670
    ENVOY MORTGAGE, LTD 2 6.94% $14,077
    S1L, Inc. 1 5.99% $7,388
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.63% $9,728
    SENTE MORTGAGE, INC. 1 6.63% $21,684
    CLIFFCO, INC. 1 7.25% $12,132
    MASON MCDUFFIE MORTGAGE CORPORATION 1 6.25% $11,491
    Advisors Mortgage Group, L.L.C. 1 6.13% $20,762
    CANOPY MORTGAGE, LLC 1 5.88% $21,292
    SWBC MORTGAGE CORPORATION 1 6.50% $6,044
    BOND STREET MORTGAGE, LLC 1 6.25% $12,462
    THE EQUITABLE MORTGAGE CORPORATION 1 6.25% $12,558
    The Freedom Bank of Virginia 1 6.25% $9,787
    TIDEWATER MORTGAGE SERVICES, INC. 1 5.75% $17,457
    TOP FLITE FINANCIAL, INC. 1 6.88% $14,965
    Bethpage Federal Credit Union 1 6.88% $3,498
    Atlantic Union Bank 1 6.13% $9,687
    Trustmark National Bank 1 6.50% $11,301
    Atlantic Coast Mortgage, LLC 1 6.63% $18,411
    AmRes Corporation 1 6.13% $11,091
    US MORTGAGE CORPORATION 1 5.50% $33,837
    LADERA LENDING, INC. 1 5.75% $15,772
    Keystone Funding, Inc. 1 6.25% $17,650
    JPMorgan Chase Bank 1 6.25% $8,809
    LEGEND LENDING CORPORATION 1 6.63% $20,174
    JAMS-01, INC. 1 5.63% $11,740
    Sierra Pacific Mortgage Company, Inc. 1 6.25% $20,199
    INTERCAP LENDING INC. 1 5.63% $17,030
    Mid-Continent Funding, Inc. 1 6.75% $11,466
    HOMESTEAD FUNDING CORP. 1 6.50% $9,570
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.63% $14,122
    MORIA DEVELOPMENT, INC. 1 6.75% $10,293
    MORTGAGE ACCESS CORP. 1 5.50% $12,304
    Mortgage Assurance Inc. 1 6.13% $9,948
    Home Mortgage Alliance Corp 1 6.75% $21,227
    GSF Mortgage Corporation 1 5.49% $12,080
    GENEVA FINANCIAL, LLC 1 7.25% $16,878
    NATIONS DIRECT MORTGAGE, LLC 1 7.25% $16,426
    FIRST SAVINGS MORTGAGE CORPORATION 1 6.63% $8,083
    NETWORK CAPITAL FUNDING CORPORATION 1 6.13% $6,737
    NEW DAY FINANCIAL, LLC 1 7.74% $3,509
    First National Bank of Pennsylvania 1 6.13% $12,361
    First Federal Bank 1 6.63% $8,260
    NJ LENDERS CORP. 1 6.13% $12,995
    ON Q FINANCIAL, INC. 1 6.25% $17,699
    AMERICAN FEDERAL MORTGAGE CORPORATION 1 6.13% $8,157
    FirstBank 1 6.50% $11,802
    First Bank 1 6.13% $7,976
    Pinnacle Bank 1 6.50% $12,941
    ALLIANT CREDIT UNION 1 6.63% $11,383
    FIDELITY DIRECT MORTGAGE, LLC 1 7.13% $17,290
    POLARIS HOME FUNDING CORP. 1 5.75% $15,482
    PREMIA MORTGAGE, LLC 1 6.25% $7,460
    EVERETT FINANCIAL, INC. 1 7.13% $9,447
    EVANSVILLE TEACHERS 1 6.75% $13,374
    EMBRACE HOME LOANS, INC. 1 6.75% $10,243
    DIRECT MORTGAGE LOANS, LLC 1 5.50% $12,360
    RANLIFE, INC. 1 5.99% $8,063
    RAPID MORTGAGE COMPANY 1 6.75% $13,206
    DATA MORTGAGE, INC. 1 6.75% $11,047
    Residential Acceptance Corporation 1 7.50% $10,069
    Residential Mortgage Solutions, Inc. 1 6.00% $7,695
    RESOURCE FINANCIAL SERVICES, INC. 1 6.75% $11,042

    The top Raleigh FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 270 FHA loans originated. Their average total fees are $13,297, which is $358 lower than the next largest lender, NVR Mortgage Finance, Inc..

    The lowest fee Raleigh FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($8,151), South Pacific Financial Corporation ($8,255), EAGLE HOME MORTGAGE, LLC ($8,300), PULTE MORTGAGE LLC ($8,540) and Lakeview Community Capital, LLC ($8,999).

    The lowest rate Raleigh FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.85%), VELOCIO MORTGAGE L.L.C. (4.87%), PRIMELENDING, A PLAINSCAPITAL COMPANY (5.28%), PULTE MORTGAGE LLC (5.32%) and First-Citizens Bank & Trust Company (5.41%).

    Raleigh FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    RALEIGH-CARY, NC FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
    RALEIGH-CARY, NC JOHNSTON 2022 $420,680 $538,650 $651,050 $809,150
    RALEIGH-CARY, NC WAKE 2022 $420,680 $538,650 $651,050 $809,150
    RALEIGH-CARY, NC FRANKLIN 2023 $502,550 $643,350 $777,650 $966,450
    RALEIGH-CARY, NC JOHNSTON 2023 $502,550 $643,350 $777,650 $966,450
    RALEIGH-CARY, NC WAKE 2023 $502,550 $643,350 $777,650 $966,450

    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).