Angola FHA Loan Rates, Closing Costs & Stats

Angola, IN

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.

Angola's 32 lenders originated 92 FHA loans during 2023. The total origination value was $16,800,000, with an average FHA loan value of $182,609.

Angola FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Angola averaged 7.17% for the week of 2024-06-07, compared to the national average (all FHA variants) of 6.692% for the same period.

Angola's average FHA mortgage closing costs are $5,847.

The average rate for the prior week (2024-05-31) was 7.16% and one month ago for the week of 2024-05-03, the average rate was 7.36%.

The average rate one year ago was 6.73%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.69%.

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

Angola 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 Angola level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 12 6.34% $9,098
RUOFF MORTGAGE COMPANY, INC. 11 7.02% $7,651
GVC MORTGAGE, INC. 9 7.17% $8,269
GENEVA FINANCIAL, LLC 8 7.27% $8,766
HALLMARK HOME MORTGAGE, LLC 5 7.20% $7,555
UNITED WHOLESALE MORTGAGE, LLC 5 6.85% $10,779
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 3 6.58% $7,044
ENDEAVOR CAPITAL, LLC. 3 7.20% $8,970
FREEDOM MORTGAGE CORPORATION 2 7.00% $8,285
Fifth Third Bank 2 6.56% $3,725
TOP FLITE FINANCIAL, INC. 2 6.94% $9,634
VAN DYK MORTGAGE CORPORATION 2 6.88% $8,270
Nations Lending Corporation 2 7.44% $6,683
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.63% $12,497
PENNYMAC LOAN SERVICES, LLC 1 6.88% $8,812
PLANET HOME LENDING, LLC 1 6.75% $6,454
STOCKTON MORTGAGE CORPORATION 1 7.25% $10,854
AMERISAVE MORTGAGE CORPORATION 1 5.63% $10,172
Wells Fargo Bank 1 5.88% $8,656
Barrington Bank & Trust Company, N.A. 1 6.75% $8,785
CALCON MUTUAL MORTGAGE LLC 1 6.13% $13,206
CALIBER HOME LOANS, INC. 1 6.25% $3,382
CARDINAL FINANCIAL 1 7.75% $6,960
Carrington Mortgage Services, LLC 1 5.38% $10,074
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $4,782
First Federal Bank of the Midwest 1 5.63% $7,333
Flagstar Bank, FSB 1 6.63% $10,441
FORUM Credit Union 1 6.00% $8,480
GUARANTEED RATE, INC. 1 6.88% $13,477
LOANPAL, LLC 1 6.88% $12,045
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $8,625
Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $7,974

The top Angola FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 12 FHA loans originated. Their average total fees are $9,098, which is $1,447 higher than the next largest lender, RUOFF MORTGAGE COMPANY, INC..

The lowest fee Angola FHA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($7,651), QUICKEN LOANS, LLC ($9,098), .

The lowest rate Angola FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.34%), RUOFF MORTGAGE COMPANY, INC. (7.02%), .

Angola FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
ANGOLA, IN STEUBEN 2022 $420,680 $538,650 $651,050 $809,150
ANGOLA, IN STEUBEN 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Angola (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 $242,725 (7.4%) $329,679 (0.7%) 0.00 163
2018-02-01 $248,475 (9.4%) $335,727 (7.7%) 0.00 163
2018-03-01 $249,000 (8.3%) $337,683 (8.7%) 0.00 171
2018-04-01 $247,425 (7.6%) $332,776 (4.2%) 0.00 183
2018-05-01 $249,925 (3.7%) $326,300 (0.3%) 0.00 201
2018-06-01 $258,950 (9.1%) $310,275 (-2.4%) 0.00 213
2018-07-01 $260,100 (10.7%) $307,032 (0.6%) 0.00 217
2018-08-01 $251,150 (7.6%) $298,248 (-0.7%) 0.00 222
2018-09-01 $249,450 (12.3%) $307,444 (3.9%) 0.00 222
2018-10-01 $244,000 (3.5%) $307,055 (-2.3%) 0.00 211
2018-11-01 $247,175 (1.8%) $304,985 (-3.8%) 0.00 195
2018-12-01 $230,000 (-4.6%) $299,693 (-8.8%) 0.00 180
2019-01-01 $229,800 (-5.3%) $291,752 (-11.5%) 0.00 172
2019-02-01 $227,450 (-8.5%) $287,306 (-14.4%) 0.00 168
2019-03-01 $250,514 (0.6%) $306,708 (-9.2%) 0.00 161
2019-04-01 $277,500 (12.2%) $334,209 (0.4%) 0.00 151
2019-05-01 $284,975 (14.0%) $338,338 (3.7%) 0.00 152
2019-06-01 $299,900 (15.8%) $363,758 (17.2%) 0.00 158
2019-07-01 $285,350 (9.7%) $345,122 (12.4%) 0.00 166
2019-08-01 $278,645 (11.0%) $343,368 (15.1%) 0.00 169
2019-09-01 $267,314 (7.2%) $346,347 (12.7%) 0.00 164
2019-10-01 $259,759 (6.5%) $348,936 (13.6%) 0.00 159
2019-11-01 $264,900 (7.2%) $348,154 (14.2%) 0.00 139
2019-12-01 $255,450 (11.1%) $337,297 (12.6%) 0.00 128
2020-01-01 $246,850 (7.4%) $315,512 (8.1%) 0.00 116
2020-02-01 $259,700 (14.2%) $336,505 (17.1%) 0.00 106
2020-03-01 $277,450 (10.8%) $361,252 (17.8%) 0.00 115
2020-04-01 $279,850 (0.9%) $380,076 (13.7%) 0.00 110
2020-05-01 $269,500 (-5.4%) $374,902 (10.8%) 0.00 103
2020-06-01 $267,425 (-10.8%) $406,771 (11.8%) 0.00 81
2020-07-01 $262,650 (-8.0%) $396,026 (14.8%) 0.00 73
2020-08-01 $256,400 (-8.0%) $385,490 (12.3%) 0.00 71
2020-09-01 $275,000 (2.9%) $387,466 (11.9%) 0.00 68
2020-10-01 $252,450 (-2.8%) $353,986 (1.5%) 0.00 66
2020-11-01 $274,950 (3.8%) $389,176 (11.8%) 0.00 55
2020-12-01 $275,000 (7.7%) $425,711 (26.2%) 0.00 39
2021-01-01 $249,000 (0.9%) $470,252 (49.0%) 0.00 26
2021-02-01 $289,950 (11.7%) $436,193 (29.6%) 0.00 18
2021-03-01 $297,400 (7.2%) $438,198 (21.3%) 0.00 22
2021-04-01 $324,900 (16.1%) $555,061 (46.0%) 0.00 31
2021-05-01 $319,900 (18.7%) $529,212 (41.2%) 0.00 35
2021-06-01 $317,400 (18.7%) $531,886 (30.8%) 0.00 48
2021-07-01 $329,900 (25.6%) $532,337 (34.4%) 0.00 54
2021-08-01 $314,900 (22.8%) $484,601 (25.7%) 0.00 60
2021-09-01 $309,000 (12.4%) $457,812 (18.2%) 0.00 60
2021-10-01 $312,000 (23.6%) $433,839 (22.6%) 0.00 51
2021-11-01 $312,225 (13.6%) $443,113 (13.9%) 0.00 48
2021-12-01 $341,850 (24.3%) $470,979 (10.6%) 0.00 46
2022-01-01 $314,700 (26.4%) $460,568 (-2.1%) 0.00 41
2022-02-01 $373,250 (28.7%) $560,375 (28.5%) 0.00 33
2022-03-01 $378,725 (27.4%) $563,656 (28.6%) 0.00 32
2022-04-01 $399,000 (22.8%) $602,778 (8.6%) 0.00 42
2022-05-01 $417,425 (30.5%) $585,626 (10.7%) 0.00 62
2022-06-01 $359,900 (13.4%) $509,143 (-4.3%) 0.00 68
2022-07-01 $349,900 (6.1%) $494,754 (-7.1%) 0.00 68
2022-08-01 $304,275 (-3.4%) $463,129 (-4.4%) 0.00 69
2022-09-01 $310,775 (0.6%) $479,355 (4.7%) 0.00 69
2022-10-01 $320,000 (2.6%) $494,537 (14.0%) 0.00 66
2022-11-01 $324,500 (3.9%) $516,487 (16.6%) 0.00 72
2022-12-01 $329,950 (-3.5%) $522,258 (10.9%) 0.00 71
2023-01-01 $336,200 (6.8%) $524,750 (13.9%) 0.00 62
2023-02-01 $333,375 (-10.7%) $487,067 (-13.1%) 0.00 61
2023-03-01 $334,975 (-11.6%) $492,914 (-12.6%) 0.00 65
2023-04-01 $315,000 (-21.1%) $439,762 (-27.0%) 0.00 57
2023-05-01 $332,450 (-20.4%) $540,547 (-7.7%) 0.00 61
2023-06-01 $345,725 (-3.9%) $545,861 (7.2%) 0.00 73
2023-07-01 $354,950 (1.4%) $540,978 (9.3%) 0.00 83
2023-08-01 $355,450 (16.8%) $516,029 (11.4%) 0.00 90
2023-09-01 $389,450 (25.3%) $534,754 (11.6%) 0.00 102
2023-10-01 $379,925 (18.7%) $550,296 (11.3%) 0.00 98
2023-11-01 $347,900 (7.2%) $544,140 (5.4%) 0.00 92
2023-12-01 $364,900 (10.6%) $578,235 (10.7%) 0.00 80
2024-01-01 $301,475 (-10.3%) $536,154 (2.2%) 0.00 77
2024-02-01 $309,900 (-7.0%) $537,366 (10.3%) 0.00 76
2024-03-01 $365,000 (9.0%) $552,536 (12.1%) 0.00 85
2024-04-01 $376,175 (19.4%) $540,811 (23.0%) 0.00 94
2024-05-01 $412,500 (24.1%) $588,926 (9.0%) 0.00 114
Angola's median listing price for 2024-05-01 was $412,500, a difference of $80,050 (24.1%) versus the prior year and $36,325 versus the prior month.

Angola's median listing price comes in at 0% of the national average.

Angola's average listing price for 2024-05-01 was $588,926, a difference of $48,379 (9.0%) versus the prior year and $48,115 versus the prior month.

For the 2024-05-01 period, Angola had 114 MLS listings, a difference of 20 listings (21%) versus the prior month and 53 listings (87%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Angola (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,979 sqft
2018-02-01 0 days 1,875 sqft
2018-03-01 0 days 1,840 sqft
2018-04-01 0 days 1,821 sqft
2018-05-01 0 days 1,826 sqft
2018-06-01 0 days 1,844 sqft
2018-07-01 0 days 1,854 sqft
2018-08-01 0 days 1,807 sqft
2018-09-01 0 days 1,840 sqft
2018-10-01 0 days 1,829 sqft
2018-11-01 0 days 1,832 sqft
2018-12-01 0 days 1,824 sqft
2019-01-01 0 days 1,757 sqft
2019-02-01 0 days 1,756 sqft
2019-03-01 0 days 1,800 sqft
2019-04-01 0 days 1,842 sqft
2019-05-01 0 days 1,798 sqft
2019-06-01 0 days 1,758 sqft
2019-07-01 0 days 1,774 sqft
2019-08-01 0 days 1,813 sqft
2019-09-01 0 days 1,797 sqft
2019-10-01 0 days 1,794 sqft
2019-11-01 0 days 1,952 sqft
2019-12-01 0 days 1,917 sqft
2020-01-01 0 days 1,815 sqft
2020-02-01 0 days 1,732 sqft
2020-03-01 0 days 1,813 sqft
2020-04-01 0 days 1,776 sqft
2020-05-01 0 days 1,791 sqft
2020-06-01 0 days 1,846 sqft
2020-07-01 0 days 1,846 sqft
2020-08-01 0 days 1,830 sqft
2020-09-01 0 days 1,814 sqft
2020-10-01 0 days 1,768 sqft
2020-11-01 0 days 1,794 sqft
2020-12-01 0 days 1,848 sqft
2021-01-01 0 days 1,880 sqft
2021-02-01 0 days 1,945 sqft
2021-03-01 0 days 2,117 sqft
2021-04-01 0 days 2,298 sqft
2021-05-01 0 days 1,978 sqft
2021-06-01 0 days 1,896 sqft
2021-07-01 0 days 2,220 sqft
2021-08-01 0 days 2,095 sqft
2021-09-01 0 days 2,217 sqft
2021-10-01 0 days 2,126 sqft
2021-11-01 0 days 1,972 sqft
2021-12-01 0 days 2,166 sqft
2022-01-01 0 days 1,835 sqft
2022-02-01 0 days 2,447 sqft
2022-03-01 0 days 2,256 sqft
2022-04-01 0 days 2,123 sqft
2022-05-01 0 days 1,935 sqft
2022-06-01 0 days 1,791 sqft
2022-07-01 0 days 1,852 sqft
2022-08-01 0 days 1,846 sqft
2022-09-01 0 days 1,882 sqft
2022-10-01 0 days 2,016 sqft
2022-11-01 0 days 2,033 sqft
2022-12-01 0 days 1,928 sqft
2023-01-01 0 days 1,994 sqft
2023-02-01 0 days 1,950 sqft
2023-03-01 0 days 1,927 sqft
2023-04-01 0 days 1,872 sqft
2023-05-01 0 days 1,868 sqft
2023-06-01 0 days 1,833 sqft
2023-07-01 0 days 1,875 sqft
2023-08-01 0 days 1,874 sqft
2023-09-01 0 days 1,977 sqft
2023-10-01 0 days 2,001 sqft
2023-11-01 0 days 2,004 sqft
2023-12-01 0 days 2,030 sqft
2024-01-01 0 days 2,019 sqft
2024-02-01 0 days 2,006 sqft
2024-03-01 0 days 2,033 sqft
2024-04-01 0 days 1,998 sqft
2024-05-01 0 days 2,033 sqft
Angola's median listing age (time on market) for 2024-05-01 was 0 days.

Angola's median square footage for active listings during the 2024-05-01 period was 2,033 sqft. One year prior, the average listing was 1,868 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).