Bellefontaine FHA Loan Rates, Closing Costs & Stats

Bellefontaine, OH

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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.

    Bellefontaine's 35 lenders originated 121 FHA loans during 2023. The total origination value was $22,415,000, with an average FHA loan value of $185,248.

    Bellefontaine FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Bellefontaine averaged 6.74% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Bellefontaine's average FHA mortgage closing costs are $6,819.

    The average rate for the prior week (2024-12-06) was 6.71% and one month ago for the week of 2024-11-08, the average rate was 6.67%.

    The average rate one year ago was 7.29%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

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

    Bellefontaine 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 Bellefontaine level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CROSSCOUNTRY MORTGAGE, LLC 11 6.74% $12,510
    QUICKEN LOANS, LLC 11 6.24% $7,046
    Western Ohio Mortgage Corporation 8 6.95% $8,206
    UNITED WHOLESALE MORTGAGE, LLC 8 6.82% $9,407
    UNION HOME MORTGAGE CORP. 8 6.98% $7,832
    NEWREZ LLC 5 6.90% $9,040
    CARDINAL FINANCIAL 4 6.88% $11,143
    Mr. Cooper ( Nationstar Mortgage ) 4 6.16% $11,038
    RUOFF MORTGAGE COMPANY, INC. 4 6.97% $6,597
    The Huntington National Bank 4 7.22% $7,103
    LOANDEPOT.COM, LLC 3 6.83% $7,254
    LOANPAL, LLC 2 6.06% $12,772
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $8,701
    HOMESIDE FINANCIAL, LLC 2 6.94% $13,418
    NFM, INC. 2 7.94% $12,304
    Flagstar Bank, FSB 2 7.38% $9,654
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 7.25% $6,870
    LIBERTY HOME MORTGAGE CORPORATION 1 7.00% $6,072
    Plains Commerce Bank 1 5.50% $6,651
    PLANET HOME LENDING, LLC 1 6.50% $7,794
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.50% $7,823
    Prosperity Home Mortgage, LLC 1 6.13% $14,890
    GUARANTEED RATE, INC. 1 7.75% $6,992
    RAPID MORTGAGE COMPANY 1 7.13% $14,187
    WesBanco 1 6.13% $5,157
    Strong Home Mortgage, LLC 1 6.63% $11,318
    Civista Bank 1 6.13% $6,803
    THRIVE MORTGAGE, LLC 1 7.13% $10,731
    TOWNE MORTGAGE COMPANY 1 6.88% $8,630
    MOVEMENT MORTGAGE, LLC 1 6.99% $22,500
    ENDEAVOR CAPITAL, LLC. 1 6.75% $10,614
    US MORTGAGE CORPORATION 1 7.63% $9,078
    U.S. Bank 1 6.25% $6,522
    Nations Lending Corporation 1 6.75% $10,011
    NETWORK CAPITAL FUNDING CORPORATION 1 5.13% $20,366

    The top Bellefontaine FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 11 FHA loans originated. Their average total fees are $12,510, which is $5,464 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Bellefontaine FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($7,046), CROSSCOUNTRY MORTGAGE, LLC ($12,510), .

    The lowest rate Bellefontaine FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.24%), CROSSCOUNTRY MORTGAGE, LLC (6.74%), .

    Bellefontaine FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bellefontaine (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 $149,900 (9.3%) $266,242 (13.1%) 0.00 186
    2018-02-01 $144,900 (-1.7%) $263,826 (7.6%) 0.00 192
    2018-03-01 $157,450 (1.0%) $265,717 (6.1%) 0.00 192
    2018-04-01 $168,724 (12.5%) $271,189 (5.3%) 0.00 187
    2018-05-01 $151,450 (-6.1%) $263,072 (12.7%) 0.00 185
    2018-06-01 $167,000 (4.4%) $265,870 (14.7%) 0.00 189
    2018-07-01 $169,675 (16.2%) $267,711 (18.6%) 0.00 198
    2018-08-01 $172,400 (16.2%) $271,836 (8.4%) 0.00 204
    2018-09-01 $168,700 (14.0%) $260,786 (14.2%) 0.00 211
    2018-10-01 $164,950 (3.1%) $225,477 (-17.9%) 0.00 218
    2018-11-01 $164,900 (3.1%) $225,500 (-19.2%) 0.00 213
    2018-12-01 $169,900 (6.2%) $226,812 (-14.0%) 0.00 190
    2019-01-01 $164,900 (10.0%) $225,292 (-15.4%) 0.00 136
    2019-02-01 $157,400 (8.6%) $208,400 (-21.0%) 0.00 129
    2019-03-01 $153,900 (-2.3%) $212,494 (-20.0%) 0.00 127
    2019-04-01 $169,900 (0.7%) $227,219 (-16.2%) 0.00 139
    2019-05-01 $177,400 (17.1%) $236,602 (-10.1%) 0.00 154
    2019-06-01 $164,900 (-1.3%) $221,377 (-16.7%) 0.00 171
    2019-07-01 $154,900 (-8.7%) $204,652 (-23.6%) 0.00 175
    2019-08-01 $154,732 (-10.3%) $208,263 (-23.4%) 0.00 165
    2019-09-01 $162,730 (-3.5%) $214,240 (-17.9%) 0.00 167
    2019-10-01 $169,473 (2.7%) $219,191 (-2.8%) 0.00 167
    2019-11-01 $169,900 (3.0%) $225,296 (-0.1%) 0.00 157
    2019-12-01 $164,450 (-3.2%) $226,611 (-0.1%) 0.00 146
    2020-01-01 $164,900 (0.0%) $228,084 (1.2%) 0.00 125
    2020-02-01 $159,450 (1.3%) $226,188 (8.5%) 0.00 124
    2020-03-01 $158,675 (3.1%) $216,953 (2.1%) 0.00 123
    2020-04-01 $162,400 (-4.4%) $229,399 (1.0%) 0.00 124
    2020-05-01 $177,450 (0.0%) $239,929 (1.4%) 0.00 108
    2020-06-01 $195,150 (18.3%) $255,014 (15.2%) 0.00 77
    2020-07-01 $182,400 (17.8%) $228,836 (11.8%) 0.00 58
    2020-08-01 $152,450 (-1.5%) $232,475 (11.6%) 0.00 54
    2020-09-01 $181,950 (11.8%) $311,999 (45.6%) 0.00 54
    2020-10-01 $165,000 (-2.6%) $292,309 (33.4%) 0.00 63
    2020-11-01 $158,500 (-6.7%) $290,574 (29.0%) 0.00 57
    2020-12-01 $151,450 (-7.9%) $305,032 (34.6%) 0.00 48
    2021-01-01 $189,900 (15.2%) $331,188 (45.2%) 0.00 46
    2021-02-01 $214,925 (34.8%) $380,867 (68.4%) 0.00 39
    2021-03-01 $252,400 (59.1%) $430,367 (98.4%) 0.00 37
    2021-04-01 $234,725 (44.5%) $415,898 (81.3%) 0.00 31
    2021-05-01 $231,950 (30.7%) $328,666 (37.0%) 0.00 49
    2021-06-01 $238,075 (22.0%) $359,362 (40.9%) 0.00 61
    2021-07-01 $234,500 (28.6%) $352,151 (53.9%) 0.00 70
    2021-08-01 $234,200 (53.6%) $326,434 (40.4%) 0.00 83
    2021-09-01 $232,400 (27.7%) $298,214 (-4.4%) 0.00 100
    2021-10-01 $213,233 (29.2%) $301,171 (3.0%) 0.00 93
    2021-11-01 $194,800 (22.9%) $284,296 (-2.2%) 0.00 80
    2021-12-01 $186,150 (22.9%) $285,474 (-6.4%) 0.00 65
    2022-01-01 $207,500 (9.3%) $329,827 (-0.4%) 0.00 61
    2022-02-01 $209,950 (-2.3%) $343,681 (-9.8%) 0.00 65
    2022-03-01 $253,675 (0.5%) $344,807 (-19.9%) 0.00 68
    2022-04-01 $222,000 (-5.4%) $356,543 (-14.3%) 0.00 68
    2022-05-01 $259,925 (12.1%) $348,388 (6.0%) 0.00 72
    2022-06-01 $304,475 (27.9%) $406,232 (13.0%) 0.00 110
    2022-07-01 $292,950 (24.9%) $386,326 (9.7%) 0.00 132
    2022-08-01 $309,900 (32.3%) $388,413 (19.0%) 0.00 127
    2022-09-01 $287,200 (23.6%) $370,114 (24.1%) 0.00 116
    2022-10-01 $282,400 (32.4%) $360,800 (19.8%) 0.00 118
    2022-11-01 $277,425 (42.4%) $360,680 (26.9%) 0.00 103
    2022-12-01 $258,700 (39.0%) $349,669 (22.5%) 0.00 93
    2023-01-01 $271,175 (30.7%) $364,645 (10.6%) 0.00 85
    2023-02-01 $277,450 (32.2%) $368,101 (7.1%) 0.00 83
    2023-03-01 $285,725 (12.6%) $374,683 (8.7%) 0.00 88
    2023-04-01 $307,000 (38.3%) $374,319 (5.0%) 0.00 93
    2023-05-01 $274,975 (5.8%) $356,257 (2.3%) 0.00 99
    2023-06-01 $267,400 (-12.2%) $329,045 (-19.0%) 0.00 96
    2023-07-01 $249,900 (-14.7%) $330,314 (-14.5%) 0.00 85
    2023-08-01 $242,450 (-21.8%) $329,715 (-15.1%) 0.00 83
    2023-09-01 $238,450 (-17.0%) $308,282 (-16.7%) 0.00 80
    2023-10-01 $235,425 (-16.6%) $313,521 (-13.1%) 0.00 92
    2023-11-01 $269,675 (-2.8%) $334,533 (-7.3%) 0.00 95
    2023-12-01 $249,900 (-3.4%) $318,547 (-8.9%) 0.00 80
    2024-01-01 $238,475 (-12.1%) $301,446 (-17.3%) 0.00 75
    2024-02-01 $229,950 (-17.1%) $304,798 (-17.2%) 0.00 82
    2024-03-01 $247,450 (-13.4%) $310,969 (-17.0%) 0.00 90
    2024-04-01 $263,600 (-14.1%) $342,964 (-8.4%) 0.00 87
    2024-05-01 $263,575 (-4.2%) $349,961 (-1.8%) 0.00 90
    2024-06-01 $269,900 (0.9%) $384,382 (16.8%) 0.00 89
    2024-07-01 $261,950 (4.8%) $354,694 (7.4%) 0.00 101
    2024-08-01 $264,900 (9.3%) $360,833 (9.4%) 0.00 115
    2024-09-01 $269,900 (13.2%) $380,239 (23.3%) 0.00 108
    2024-10-01 $274,975 (16.8%) $386,028 (23.1%) 0.00 109
    2024-11-01 $280,000 (3.8%) $389,419 (16.4%) 0.00 115
    Bellefontaine's median listing price for 2024-11-01 was $280,000, a difference of $10,325 (3.8%) versus the prior year and $5,025 versus the prior month.

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

    Bellefontaine's average listing price for 2024-11-01 was $389,419, a difference of $54,886 (16.4%) versus the prior year and $3,391 versus the prior month.

    For the 2024-11-01 period, Bellefontaine had 115 MLS listings, a difference of 6 listings (6%) versus the prior month and 20 listings (21%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bellefontaine (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,546 sqft
    2018-02-01 0 days 1,555 sqft
    2018-03-01 0 days 1,503 sqft
    2018-04-01 0 days 1,636 sqft
    2018-05-01 0 days 1,629 sqft
    2018-06-01 0 days 1,628 sqft
    2018-07-01 0 days 1,629 sqft
    2018-08-01 0 days 1,640 sqft
    2018-09-01 0 days 1,620 sqft
    2018-10-01 0 days 1,596 sqft
    2018-11-01 0 days 1,614 sqft
    2018-12-01 0 days 1,700 sqft
    2019-01-01 0 days 1,604 sqft
    2019-02-01 0 days 1,616 sqft
    2019-03-01 0 days 1,569 sqft
    2019-04-01 0 days 1,513 sqft
    2019-05-01 0 days 1,483 sqft
    2019-06-01 0 days 1,503 sqft
    2019-07-01 0 days 1,512 sqft
    2019-08-01 0 days 1,502 sqft
    2019-09-01 0 days 1,486 sqft
    2019-10-01 0 days 1,499 sqft
    2019-11-01 0 days 1,522 sqft
    2019-12-01 0 days 1,483 sqft
    2020-01-01 0 days 1,476 sqft
    2020-02-01 0 days 1,452 sqft
    2020-03-01 0 days 1,409 sqft
    2020-04-01 0 days 1,397 sqft
    2020-05-01 0 days 1,402 sqft
    2020-06-01 0 days 1,444 sqft
    2020-07-01 0 days 1,453 sqft
    2020-08-01 0 days 1,488 sqft
    2020-09-01 0 days 1,481 sqft
    2020-10-01 0 days 1,420 sqft
    2020-11-01 0 days 1,441 sqft
    2020-12-01 0 days 1,439 sqft
    2021-01-01 0 days 1,420 sqft
    2021-02-01 0 days 1,473 sqft
    2021-03-01 0 days 1,656 sqft
    2021-04-01 0 days 1,531 sqft
    2021-05-01 0 days 1,566 sqft
    2021-06-01 0 days 1,651 sqft
    2021-07-01 0 days 1,642 sqft
    2021-08-01 0 days 1,507 sqft
    2021-09-01 0 days 1,470 sqft
    2021-10-01 0 days 1,564 sqft
    2021-11-01 0 days 1,510 sqft
    2021-12-01 0 days 1,436 sqft
    2022-01-01 0 days 1,424 sqft
    2022-02-01 0 days 1,434 sqft
    2022-03-01 0 days 1,547 sqft
    2022-04-01 0 days 1,665 sqft
    2022-05-01 0 days 1,495 sqft
    2022-06-01 0 days 1,554 sqft
    2022-07-01 0 days 1,584 sqft
    2022-08-01 0 days 1,535 sqft
    2022-09-01 0 days 1,590 sqft
    2022-10-01 0 days 1,577 sqft
    2022-11-01 0 days 1,607 sqft
    2022-12-01 0 days 1,599 sqft
    2023-01-01 0 days 1,586 sqft
    2023-02-01 0 days 1,440 sqft
    2023-03-01 0 days 1,412 sqft
    2023-04-01 0 days 1,386 sqft
    2023-05-01 0 days 1,360 sqft
    2023-06-01 0 days 1,387 sqft
    2023-07-01 0 days 1,373 sqft
    2023-08-01 0 days 1,554 sqft
    2023-09-01 0 days 1,384 sqft
    2023-10-01 0 days 1,557 sqft
    2023-11-01 0 days 1,643 sqft
    2023-12-01 0 days 1,558 sqft
    2024-01-01 0 days 1,513 sqft
    2024-02-01 0 days 1,442 sqft
    2024-03-01 0 days 1,354 sqft
    2024-04-01 0 days 1,326 sqft
    2024-05-01 0 days 1,474 sqft
    2024-06-01 0 days 1,519 sqft
    2024-07-01 0 days 1,481 sqft
    2024-08-01 0 days 1,416 sqft
    2024-09-01 0 days 1,498 sqft
    2024-10-01 0 days 1,487 sqft
    2024-11-01 0 days 1,568 sqft
    Bellefontaine's median listing age (time on market) for 2024-11-01 was 0 days.

    Bellefontaine's median square footage for active listings during the 2024-11-01 period was 1,568 sqft. One year prior, the average listing was 1,643 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).