Beatrice FHA Loan Rates, Closing Costs & Stats

Beatrice, NE

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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.

    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 6.44% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.41% and one month ago for the week of 2024-11-08, the average rate was 6.17%.

    The average rate one year ago was 6.68%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.38%.

    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).