Beatrice FHA Loan Rates, Closing Costs & Stats

Beatrice, NE

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.

Beatrice's 26 lenders originated 59 FHA loans during 2023. The total origination value was $9,615,000, with an average FHA loan value of $162,966.

Beatrice FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Beatrice averaged 6.52% for the week of 2024-12-06, compared to the national average (all FHA variants) of 6.363% for the same period.

Beatrice's average FHA mortgage closing costs are $5,362.

The average rate for the prior week (2024-11-29) was 6.56% and one month ago for the week of 2024-11-01, the average rate was 6.46%.

The average rate one year ago was 6.79%.

For refis of the same type during the week of 2024-12-06, the average rate was 6.56%.

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

Beatrice 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 Beatrice level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
GERSHMAN INVESTMENT CORP. 6 7.00% $5,790
Lincoln FSB of Nebraska 6 6.46% $6,038
QUICKEN LOANS, LLC 6 6.23% $7,778
CHARTER WEST BANK 5 6.33% $5,920
First National Bank of Omaha 4 6.66% $6,011
Regent Financial Group, Inc. 3 5.96% $7,069
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.58% $10,301
United Fidelity Funding Corp. 2 6.81% $5,796
Pinnacle Bank 2 6.94% $6,141
Prosperity Home Mortgage, LLC 2 6.69% $4,522
LOANDEPOT.COM, LLC 1 6.25% $9,182
MORIA DEVELOPMENT, INC. 1 6.75% $10,302
NEWREZ LLC 1 5.75% $6,444
PENNYMAC LOAN SERVICES, LLC 1 5.75% $5,332
U.S. Bank 1 6.75% $3,966
Access Bank 1 6.88% $6,493
West Gate Bank 1 6.00% $4,376
American Mortgage Bank, LLC 1 6.50% $8,068
AMERISAVE MORTGAGE CORPORATION 1 7.25% $8,275
BMO Harris Bank 1 7.13% $6,303
BROKER SOLUTIONS, INC. 1 7.10% $6,295
CENTENNIAL LENDING, LLC 1 5.50% $7,146
CMG MORTGAGE, INC. 1 7.25% $9,835
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $6,780
First Interstate Bank 1 6.75% $5,643
LIBERTY FIRST 1 6.63% $5,420

The top Beatrice FHA lender as defined by loan originations is GERSHMAN INVESTMENT CORP., with 6 FHA loans originated. Their average total fees are $5,790, which is $248 lower than the next largest lender, Lincoln FSB of Nebraska.

The lowest fee Beatrice FHA lenders (with over 10 loans originated) are .

The lowest rate Beatrice FHA lenders (with over 10 loans originated) are .

Beatrice FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Beatrice (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 $119,500 (9.1%) $143,248 (6.7%) 0.00 70
2018-02-01 $126,475 (-1.6%) $152,864 (3.2%) 0.00 64
2018-03-01 $139,900 (4.0%) $178,202 (24.2%) 0.00 76
2018-04-01 $165,700 (21.0%) $180,268 (10.8%) 0.00 92
2018-05-01 $170,800 (8.9%) $181,559 (1.2%) 0.00 96
2018-06-01 $173,500 (16.3%) $176,623 (5.5%) 0.00 96
2018-07-01 $166,800 (15.1%) $164,285 (-0.4%) 0.00 103
2018-08-01 $159,974 (12.3%) $158,843 (-0.5%) 0.00 99
2018-09-01 $147,500 (1.8%) $143,480 (-8.0%) 0.00 103
2018-10-01 $144,750 (20.4%) $147,505 (-1.3%) 0.00 106
2018-11-01 $129,900 (13.0%) $151,788 (5.0%) 0.00 106
2018-12-01 $139,700 (19.0%) $161,531 (17.7%) 0.00 107
2019-01-01 $139,125 (16.4%) $165,203 (15.3%) 0.00 86
2019-02-01 $134,700 (6.5%) $158,704 (3.8%) 0.00 92
2019-03-01 $132,550 (-5.3%) $152,713 (-14.3%) 0.00 84
2019-04-01 $129,975 (-21.6%) $148,663 (-17.5%) 0.00 72
2019-05-01 $128,075 (-25.0%) $155,537 (-14.3%) 0.00 62
2019-06-01 $154,900 (-10.7%) $168,456 (-4.6%) 0.00 64
2019-07-01 $183,700 (10.1%) $186,165 (13.3%) 0.00 57
2019-08-01 $171,561 (7.2%) $194,886 (22.7%) 0.00 58
2019-09-01 $162,653 (10.3%) $210,789 (46.9%) 0.00 62
2019-10-01 $158,302 (9.4%) $211,714 (43.5%) 0.00 65
2019-11-01 $155,750 (19.9%) $186,255 (22.7%) 0.00 75
2019-12-01 $144,950 (3.8%) $172,296 (6.7%) 0.00 70
2020-01-01 $144,175 (3.6%) $167,580 (1.4%) 0.00 66
2020-02-01 $139,700 (3.7%) $176,373 (11.1%) 0.00 62
2020-03-01 $149,675 (12.9%) $185,137 (21.2%) 0.00 65
2020-04-01 $148,438 (14.2%) $184,835 (24.3%) 0.00 62
2020-05-01 $182,200 (42.3%) $193,529 (24.4%) 0.00 58
2020-06-01 $191,900 (23.9%) $201,019 (19.3%) 0.00 39
2020-07-01 $152,400 (-17.0%) $199,064 (6.9%) 0.00 43
2020-08-01 $185,000 (7.8%) $219,532 (12.7%) 0.00 40
2020-09-01 $153,475 (-5.6%) $191,731 (-9.0%) 0.00 48
2020-10-01 $137,900 (-12.9%) $178,763 (-15.6%) 0.00 38
2020-11-01 $138,700 (-11.0%) $174,742 (-6.2%) 0.00 37
2020-12-01 $146,444 (1.0%) $183,600 (6.6%) 0.00 34
2021-01-01 $134,000 (-7.1%) $183,004 (9.2%) 0.00 27
2021-02-01 $133,950 (-4.1%) $184,621 (4.7%) 0.00 30
2021-03-01 $133,250 (-11.0%) $170,038 (-8.2%) 0.00 31
2021-04-01 $126,000 (-15.1%) $164,794 (-10.8%) 0.00 27
2021-05-01 $126,000 (-30.9%) $196,689 (1.6%) 0.00 26
2021-06-01 $153,975 (-19.8%) $229,279 (14.1%) 0.00 26
2021-07-01 $126,000 (-17.3%) $195,362 (-1.9%) 0.00 35
2021-08-01 $138,500 (-25.1%) $199,906 (-8.9%) 0.00 37
2021-09-01 $136,500 (-11.1%) $214,609 (11.9%) 0.00 33
2021-10-01 $154,450 (12.0%) $218,346 (22.1%) 0.00 20
2021-11-01 $156,950 (13.2%) $201,693 (15.4%) 0.00 21
2021-12-01 $145,925 (-0.4%) $169,447 (-7.7%) 0.00 20
2022-01-01 $154,000 (14.9%) $188,535 (3.0%) 0.00 18
2022-02-01 $167,000 (24.7%) $186,622 (1.1%) 0.00 17
2022-03-01 $140,950 (5.8%) $173,487 (2.0%) 0.00 22
2022-04-01 $139,900 (11.0%) $167,497 (1.6%) 0.00 28
2022-05-01 $158,725 (26.0%) $192,918 (-1.9%) 0.00 41
2022-06-01 $166,500 (8.1%) $206,556 (-9.9%) 0.00 43
2022-07-01 $172,200 (36.7%) $214,617 (9.9%) 0.00 50
2022-08-01 $162,450 (17.3%) $203,943 (2.0%) 0.00 44
2022-09-01 $203,450 (49.1%) $230,399 (7.4%) 0.00 38
2022-10-01 $199,000 (28.8%) $249,059 (14.1%) 0.00 41
2022-11-01 $250,000 (59.3%) $265,612 (31.7%) 0.00 44
2022-12-01 $247,000 (69.3%) $269,893 (59.3%) 0.00 42
2023-01-01 $252,425 (63.9%) $271,321 (43.9%) 0.00 37
2023-02-01 $283,750 (69.9%) $284,001 (52.2%) 0.00 26
2023-03-01 $251,200 (78.2%) $287,826 (65.9%) 0.00 28
2023-04-01 $299,450 (114.1%) $313,644 (87.3%) 0.00 26
2023-05-01 $287,425 (81.1%) $305,792 (58.5%) 0.00 28
2023-06-01 $294,900 (77.1%) $324,970 (57.3%) 0.00 31
2023-07-01 $222,250 (29.1%) $272,961 (27.2%) 0.00 34
2023-08-01 $209,450 (28.9%) $267,998 (31.4%) 0.00 33
2023-09-01 $197,498 (-2.9%) $262,872 (14.1%) 0.00 28
2023-10-01 $175,975 (-11.6%) $253,889 (1.9%) 0.00 36
2023-11-01 $226,000 (-9.6%) $246,197 (-7.3%) 0.00 43
2023-12-01 $228,000 (-7.7%) $229,693 (-14.9%) 0.00 44
2024-01-01 $230,000 (-8.9%) $246,869 (-9.0%) 0.00 33
2024-02-01 $232,250 (-18.2%) $235,024 (-17.3%) 0.00 24
2024-03-01 $194,950 (-22.4%) $233,926 (-18.7%) 0.00 20
2024-04-01 $207,475 (-30.7%) $291,378 (-7.1%) 0.00 21
2024-05-01 $256,175 (-10.9%) $396,502 (29.7%) 0.00 22
2024-06-01 $247,000 (-16.2%) $328,340 (1.0%) 0.00 31
2024-07-01 $248,450 (11.8%) $314,026 (15.0%) 0.00 43
2024-08-01 $247,250 (18.1%) $311,469 (16.2%) 0.00 51
2024-09-01 $272,250 (37.9%) $324,525 (23.5%) 0.00 56
2024-10-01 $246,500 (40.1%) $301,415 (18.7%) 0.00 55
2024-11-01 $247,450 (9.5%) $296,997 (20.6%) 0.00 65
Beatrice's median listing price for 2024-11-01 was $247,450, a difference of $21,450 (9.5%) versus the prior year and $950 versus the prior month.

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

Beatrice's average listing price for 2024-11-01 was $296,997, a difference of $50,800 (20.6%) versus the prior year and $-4,418 versus the prior month.

For the 2024-11-01 period, Beatrice had 65 MLS listings, a difference of 10 listings (18%) versus the prior month and 22 listings (51%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Beatrice (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,537 sqft
2018-02-01 0 days 1,546 sqft
2018-03-01 0 days 1,553 sqft
2018-04-01 0 days 1,536 sqft
2018-05-01 0 days 1,530 sqft
2018-06-01 0 days 1,536 sqft
2018-07-01 0 days 1,602 sqft
2018-08-01 0 days 1,599 sqft
2018-09-01 0 days 1,536 sqft
2018-10-01 0 days 1,536 sqft
2018-11-01 0 days 1,574 sqft
2018-12-01 0 days 1,588 sqft
2019-01-01 0 days 1,602 sqft
2019-02-01 0 days 1,576 sqft
2019-03-01 0 days 1,559 sqft
2019-04-01 0 days 1,565 sqft
2019-05-01 0 days 1,591 sqft
2019-06-01 0 days 1,730 sqft
2019-07-01 0 days 1,656 sqft
2019-08-01 0 days 1,710 sqft
2019-09-01 0 days 1,790 sqft
2019-10-01 0 days 1,844 sqft
2019-11-01 0 days 1,640 sqft
2019-12-01 0 days 1,650 sqft
2020-01-01 0 days 1,674 sqft
2020-02-01 0 days 1,843 sqft
2020-03-01 0 days 1,825 sqft
2020-04-01 0 days 1,855 sqft
2020-05-01 0 days 1,730 sqft
2020-06-01 0 days 1,824 sqft
2020-07-01 0 days 1,568 sqft
2020-08-01 0 days 1,736 sqft
2020-09-01 0 days 1,762 sqft
2020-10-01 0 days 1,485 sqft
2020-11-01 0 days 1,466 sqft
2020-12-01 0 days 1,471 sqft
2021-01-01 0 days 1,464 sqft
2021-02-01 0 days 1,616 sqft
2021-03-01 0 days 1,537 sqft
2021-04-01 0 days 1,299 sqft
2021-05-01 0 days 1,461 sqft
2021-06-01 0 days 1,531 sqft
2021-07-01 0 days 1,491 sqft
2021-08-01 0 days 1,454 sqft
2021-09-01 0 days 1,474 sqft
2021-10-01 0 days 1,540 sqft
2021-11-01 0 days 1,540 sqft
2021-12-01 0 days 1,495 sqft
2022-01-01 0 days 1,496 sqft
2022-02-01 0 days 1,616 sqft
2022-03-01 0 days 1,275 sqft
2022-04-01 0 days 1,311 sqft
2022-05-01 0 days 1,358 sqft
2022-06-01 0 days 1,437 sqft
2022-07-01 0 days 1,540 sqft
2022-08-01 0 days 1,540 sqft
2022-09-01 0 days 1,562 sqft
2022-10-01 0 days 1,603 sqft
2022-11-01 0 days 1,726 sqft
2022-12-01 0 days 1,935 sqft
2023-01-01 0 days 1,704 sqft
2023-02-01 0 days 1,740 sqft
2023-03-01 0 days 1,824 sqft
2023-04-01 0 days 1,824 sqft
2023-05-01 0 days 1,902 sqft
2023-06-01 0 days 1,882 sqft
2023-07-01 0 days 1,852 sqft
2023-08-01 0 days 1,875 sqft
2023-09-01 0 days 1,792 sqft
2023-10-01 0 days 1,634 sqft
2023-11-01 0 days 1,656 sqft
2023-12-01 0 days 1,530 sqft
2024-01-01 0 days 1,657 sqft
2024-02-01 0 days 1,669 sqft
2024-03-01 0 days 1,506 sqft
2024-04-01 0 days 1,674 sqft
2024-05-01 0 days 1,886 sqft
2024-06-01 0 days 1,730 sqft
2024-07-01 0 days 1,733 sqft
2024-08-01 0 days 1,576 sqft
2024-09-01 0 days 1,778 sqft
2024-10-01 0 days 1,727 sqft
2024-11-01 0 days 1,788 sqft
Beatrice's median listing age (time on market) for 2024-11-01 was 0 days.

Beatrice's median square footage for active listings during the 2024-11-01 period was 1,788 sqft. One year prior, the average listing was 1,656 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).