Bellefontaine FHA Loan Rates, Closing Costs & Stats

Bellefontaine, OH

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 6.83% for the week of 2024-12-06, compared to the national average (all FHA variants) of 6.363% for the same period.

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

The average rate for the prior week (2024-11-29) was 6.57% and one month ago for the week of 2024-11-01, the average rate was 6.86%.

The average rate one year ago was 6.99%.

For refis of the same type during the week of 2024-12-06, the average rate was 6.16%.

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).