Adrian FHA Loan Rates, Closing Costs & Stats
Adrian, MI
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.
Adrian's 40 lenders originated 234 FHA loans during 2023. The total origination value was $40,890,000, with an average FHA loan value of $174,744.
Adrian FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Adrian
averaged
6.51%
for the week of 2024-10-11, compared to the national average (all FHA variants) of
6.1% for the same period.
Adrian's average FHA mortgage closing costs are $6,343.
The average rate for the prior week (2024-10-04) was
6.13% and
one month ago for the week of 2024-09-06, the
average rate was 6.35%.
The average rate one year ago was 7.48%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.18%.
Adrian 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 Adrian level.
The top Adrian FHA lender as defined by loan originations is GVC MORTGAGE, INC., with
41 FHA loans originated. Their average total fees are
$8,694, which is $304
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Adrian FHA lenders (with over 10 loans originated) are
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION ($8,531), GVC MORTGAGE, INC. ($8,694), QUICKEN LOANS, LLC ($8,999), UNITED WHOLESALE MORTGAGE, LLC ($11,031) and .
The lowest rate Adrian FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.16%), UNITED WHOLESALE MORTGAGE, LLC (6.43%), GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION (6.92%), GVC MORTGAGE, INC. (7.18%) and .
Adrian FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
ADRIAN, MI | LENAWEE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
ADRIAN, MI | LENAWEE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Adrian (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $139,900 (-0.1%) | $170,754 (-1.0%) | 0.00 | 372 |
2018-02-01 | $139,900 (-5.1%) | $175,234 (-2.2%) | 0.00 | 359 |
2018-03-01 | $143,000 (-4.6%) | $178,549 (-0.6%) | 0.00 | 367 |
2018-04-01 | $149,900 (-5.8%) | $193,973 (4.5%) | 0.00 | 390 |
2018-05-01 | $153,988 (-3.4%) | $198,482 (5.4%) | 0.00 | 435 |
2018-06-01 | $151,900 (-7.9%) | $197,460 (0.3%) | 0.00 | 481 |
2018-07-01 | $155,425 (-5.7%) | $203,081 (4.0%) | 0.00 | 493 |
2018-08-01 | $154,925 (-1.6%) | $203,335 (5.9%) | 0.00 | 498 |
2018-09-01 | $159,000 (4.6%) | $199,093 (4.0%) | 0.00 | 490 |
2018-10-01 | $159,900 (7.1%) | $197,295 (5.7%) | 0.00 | 488 |
2018-11-01 | $165,000 (15.2%) | $199,099 (11.8%) | 0.00 | 457 |
2018-12-01 | $165,000 (17.9%) | $198,363 (14.2%) | 0.00 | 402 |
2019-01-01 | $165,000 (17.9%) | $199,841 (17.0%) | 0.00 | 377 |
2019-02-01 | $162,400 (16.1%) | $198,670 (13.4%) | 0.00 | 364 |
2019-03-01 | $167,086 (16.8%) | $204,631 (14.6%) | 0.00 | 378 |
2019-04-01 | $169,950 (13.4%) | $212,215 (9.4%) | 0.00 | 394 |
2019-05-01 | $169,950 (10.4%) | $218,277 (10.0%) | 0.00 | 415 |
2019-06-01 | $175,000 (15.2%) | $223,898 (13.4%) | 0.00 | 447 |
2019-07-01 | $177,000 (13.9%) | $223,121 (9.9%) | 0.00 | 457 |
2019-08-01 | $179,900 (16.1%) | $423,408 (108.2%) | 0.00 | 476 |
2019-09-01 | $179,900 (13.1%) | $306,089 (53.7%) | 0.00 | 486 |
2019-10-01 | $179,900 (12.5%) | $213,878 (8.4%) | 0.00 | 487 |
2019-11-01 | $164,900 (-0.1%) | $202,111 (1.5%) | 0.00 | 458 |
2019-12-01 | $159,900 (-3.1%) | $196,219 (-1.1%) | 0.00 | 397 |
2020-01-01 | $166,050 (0.6%) | $198,168 (-0.8%) | 0.00 | 280 |
2020-02-01 | $159,900 (-1.5%) | $203,474 (2.4%) | 0.00 | 254 |
2020-03-01 | $166,150 (-0.6%) | $231,405 (13.1%) | 0.00 | 245 |
2020-04-01 | $179,900 (5.9%) | $236,321 (11.4%) | 0.00 | 253 |
2020-05-01 | $197,000 (15.9%) | $246,941 (13.1%) | 0.00 | 263 |
2020-06-01 | $227,729 (30.1%) | $272,083 (21.5%) | 0.00 | 236 |
2020-07-01 | $209,971 (18.6%) | $273,206 (22.5%) | 0.00 | 210 |
2020-08-01 | $195,000 (8.4%) | $266,570 (-37.0%) | 0.00 | 195 |
2020-09-01 | $196,450 (9.2%) | $256,497 (-16.2%) | 0.00 | 196 |
2020-10-01 | $199,900 (11.1%) | $255,505 (19.5%) | 0.00 | 184 |
2020-11-01 | $189,675 (15.0%) | $244,123 (20.8%) | 0.00 | 180 |
2020-12-01 | $179,913 (12.5%) | $241,415 (23.0%) | 0.00 | 140 |
2021-01-01 | $169,900 (2.3%) | $227,902 (15.0%) | 0.00 | 127 |
2021-02-01 | $179,888 (12.5%) | $247,143 (21.5%) | 0.00 | 131 |
2021-03-01 | $191,900 (15.5%) | $283,901 (22.7%) | 0.00 | 115 |
2021-04-01 | $203,669 (13.2%) | $293,287 (24.1%) | 0.00 | 104 |
2021-05-01 | $199,900 (1.5%) | $307,640 (24.6%) | 0.00 | 122 |
2021-06-01 | $218,650 (-4.0%) | $305,851 (12.4%) | 0.00 | 148 |
2021-07-01 | $233,000 (11.0%) | $306,744 (12.3%) | 0.00 | 173 |
2021-08-01 | $216,200 (10.9%) | $294,736 (10.6%) | 0.00 | 179 |
2021-09-01 | $225,950 (15.0%) | $285,678 (11.4%) | 0.00 | 184 |
2021-10-01 | $214,900 (7.5%) | $270,304 (5.8%) | 0.00 | 172 |
2021-11-01 | $217,200 (14.5%) | $260,681 (6.8%) | 0.00 | 170 |
2021-12-01 | $202,400 (12.5%) | $266,407 (10.4%) | 0.00 | 142 |
2022-01-01 | $197,450 (16.2%) | $272,439 (19.5%) | 0.00 | 96 |
2022-02-01 | $249,925 (38.9%) | $299,951 (21.4%) | 0.00 | 83 |
2022-03-01 | $276,200 (43.9%) | $319,767 (12.6%) | 0.00 | 86 |
2022-04-01 | $260,000 (27.7%) | $307,421 (4.8%) | 0.00 | 104 |
2022-05-01 | $264,950 (32.5%) | $307,770 (0.0%) | 0.00 | 127 |
2022-06-01 | $248,725 (13.8%) | $309,922 (1.3%) | 0.00 | 147 |
2022-07-01 | $249,900 (7.3%) | $313,213 (2.1%) | 0.00 | 196 |
2022-08-01 | $241,175 (11.6%) | $315,466 (7.0%) | 0.00 | 202 |
2022-09-01 | $240,700 (6.5%) | $306,444 (7.3%) | 0.00 | 199 |
2022-10-01 | $265,000 (23.3%) | $319,526 (18.2%) | 0.00 | 187 |
2022-11-01 | $244,875 (12.7%) | $291,446 (11.8%) | 0.00 | 197 |
2022-12-01 | $265,000 (30.9%) | $292,666 (9.9%) | 0.00 | 155 |
2023-01-01 | $269,900 (36.7%) | $297,964 (9.4%) | 0.00 | 139 |
2023-02-01 | $272,325 (9.0%) | $305,449 (1.8%) | 0.00 | 136 |
2023-03-01 | $298,125 (7.9%) | $306,917 (-4.0%) | 0.00 | 118 |
2023-04-01 | $289,000 (11.2%) | $313,511 (2.0%) | 0.00 | 126 |
2023-05-01 | $299,700 (13.1%) | $344,355 (11.9%) | 0.00 | 125 |
2023-06-01 | $299,750 (20.5%) | $343,115 (10.7%) | 0.00 | 142 |
2023-07-01 | $290,000 (16.1%) | $323,421 (3.3%) | 0.00 | 147 |
2023-08-01 | $275,000 (14.0%) | $312,339 (-1.0%) | 0.00 | 150 |
2023-09-01 | $284,900 (18.4%) | $311,645 (1.7%) | 0.00 | 171 |
2023-10-01 | $298,350 (12.6%) | $326,137 (2.1%) | 0.00 | 198 |
2023-11-01 | $303,950 (24.1%) | $325,063 (11.5%) | 0.00 | 202 |
2023-12-01 | $294,900 (11.3%) | $313,078 (7.0%) | 0.00 | 167 |
2024-01-01 | $277,950 (3.0%) | $301,171 (1.1%) | 0.00 | 151 |
2024-02-01 | $268,725 (-1.3%) | $296,804 (-2.8%) | 0.00 | 153 |
2024-03-01 | $289,900 (-2.8%) | $321,645 (4.8%) | 0.00 | 164 |
2024-04-01 | $299,950 (3.8%) | $340,852 (8.7%) | 0.00 | 150 |
2024-05-01 | $301,175 (0.5%) | $357,722 (3.9%) | 0.00 | 166 |
2024-06-01 | $299,900 (0.1%) | $354,739 (3.4%) | 0.00 | 173 |
2024-07-01 | $287,375 (-0.9%) | $346,416 (7.1%) | 0.00 | 195 |
2024-08-01 | $285,000 (3.6%) | $330,911 (6.0%) | 0.00 | 217 |
2024-09-01 | $279,900 (-1.8%) | $343,365 (10.2%) | 0.00 | 229 |
Adrian's median listing price comes in at 0% of the national average.
Adrian's average listing price for 2024-09-01 was $343,365, a difference of $31,720 (10.2%) versus the prior year and $12,454 versus the prior month.
For the 2024-09-01 period, Adrian had 229 MLS listings, a difference of 12 listings (6%) versus the prior month and 58 listings (34%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Adrian (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,553 sqft |
2018-02-01 | 0 days | 1,560 sqft |
2018-03-01 | 0 days | 1,561 sqft |
2018-04-01 | 0 days | 1,590 sqft |
2018-05-01 | 0 days | 1,583 sqft |
2018-06-01 | 0 days | 1,573 sqft |
2018-07-01 | 0 days | 1,579 sqft |
2018-08-01 | 0 days | 1,609 sqft |
2018-09-01 | 0 days | 1,604 sqft |
2018-10-01 | 0 days | 1,578 sqft |
2018-11-01 | 0 days | 1,623 sqft |
2018-12-01 | 0 days | 1,568 sqft |
2019-01-01 | 0 days | 1,536 sqft |
2019-02-01 | 0 days | 1,536 sqft |
2019-03-01 | 0 days | 1,557 sqft |
2019-04-01 | 0 days | 1,590 sqft |
2019-05-01 | 0 days | 1,604 sqft |
2019-06-01 | 0 days | 1,618 sqft |
2019-07-01 | 0 days | 1,612 sqft |
2019-08-01 | 0 days | 1,623 sqft |
2019-09-01 | 0 days | 1,633 sqft |
2019-10-01 | 0 days | 1,640 sqft |
2019-11-01 | 0 days | 1,576 sqft |
2019-12-01 | 0 days | 1,545 sqft |
2020-01-01 | 0 days | 1,652 sqft |
2020-02-01 | 0 days | 1,692 sqft |
2020-03-01 | 0 days | 1,679 sqft |
2020-04-01 | 0 days | 1,692 sqft |
2020-05-01 | 0 days | 1,716 sqft |
2020-06-01 | 0 days | 1,767 sqft |
2020-07-01 | 0 days | 1,722 sqft |
2020-08-01 | 0 days | 1,701 sqft |
2020-09-01 | 0 days | 1,640 sqft |
2020-10-01 | 0 days | 1,708 sqft |
2020-11-01 | 0 days | 1,655 sqft |
2020-12-01 | 0 days | 1,591 sqft |
2021-01-01 | 0 days | 1,500 sqft |
2021-02-01 | 0 days | 1,500 sqft |
2021-03-01 | 0 days | 1,500 sqft |
2021-04-01 | 0 days | 1,643 sqft |
2021-05-01 | 0 days | 1,769 sqft |
2021-06-01 | 0 days | 1,716 sqft |
2021-07-01 | 0 days | 1,703 sqft |
2021-08-01 | 0 days | 1,701 sqft |
2021-09-01 | 0 days | 1,727 sqft |
2021-10-01 | 0 days | 1,719 sqft |
2021-11-01 | 0 days | 1,623 sqft |
2021-12-01 | 0 days | 1,611 sqft |
2022-01-01 | 0 days | 1,605 sqft |
2022-02-01 | 0 days | 1,700 sqft |
2022-03-01 | 0 days | 1,732 sqft |
2022-04-01 | 0 days | 1,680 sqft |
2022-05-01 | 0 days | 1,781 sqft |
2022-06-01 | 0 days | 1,749 sqft |
2022-07-01 | 0 days | 1,700 sqft |
2022-08-01 | 0 days | 1,720 sqft |
2022-09-01 | 0 days | 1,764 sqft |
2022-10-01 | 0 days | 1,761 sqft |
2022-11-01 | 0 days | 1,704 sqft |
2022-12-01 | 0 days | 1,720 sqft |
2023-01-01 | 0 days | 1,729 sqft |
2023-02-01 | 0 days | 1,759 sqft |
2023-03-01 | 0 days | 1,715 sqft |
2023-04-01 | 0 days | 1,712 sqft |
2023-05-01 | 0 days | 1,738 sqft |
2023-06-01 | 0 days | 1,788 sqft |
2023-07-01 | 0 days | 1,736 sqft |
2023-08-01 | 0 days | 1,717 sqft |
2023-09-01 | 0 days | 1,672 sqft |
2023-10-01 | 0 days | 1,753 sqft |
2023-11-01 | 0 days | 1,782 sqft |
2023-12-01 | 0 days | 1,755 sqft |
2024-01-01 | 0 days | 1,690 sqft |
2024-02-01 | 0 days | 1,674 sqft |
2024-03-01 | 0 days | 1,770 sqft |
2024-04-01 | 0 days | 1,848 sqft |
2024-05-01 | 0 days | 1,839 sqft |
2024-06-01 | 0 days | 1,886 sqft |
2024-07-01 | 0 days | 1,800 sqft |
2024-08-01 | 0 days | 1,822 sqft |
2024-09-01 | 0 days | 1,835 sqft |
Adrian's median square footage for active listings during the 2024-09-01 period was 1,835 sqft. One year prior, the average listing was 1,672 sqft.