Branson FHA Loan Rates, Closing Costs & Stats

Branson, MO

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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.

    Branson's 39 lenders originated 118 FHA loans during 2023. The total origination value was $23,080,000, with an average FHA loan value of $195,593.

    Branson FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Branson averaged 7.05% for the week of 2024-07-19, compared to the national average (all FHA variants) of 6.59% for the same period.

    Branson's average FHA mortgage closing costs are $6,293.

    The average rate for the prior week (2024-07-12) was 6.9% and one month ago for the week of 2024-06-14, the average rate was 7.16%.

    The average rate one year ago was 6.84%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.39%.

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

    Branson 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 Branson level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FLAT BRANCH MORTGAGE, INC. 14 6.84% $8,818
    The Central Trust Bank 12 6.92% $7,024
    QUICKEN LOANS, LLC 10 6.24% $11,130
    GERSHMAN INVESTMENT CORP. 7 7.07% $7,252
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 7.15% $7,870
    CARDINAL FINANCIAL 6 6.81% $9,587
    UNITED WHOLESALE MORTGAGE, LLC 5 6.16% $15,325
    DAS Acquisition Company, LLC 5 6.55% $6,795
    BROKER SOLUTIONS, INC. 4 6.72% $9,235
    GUILD MORTGAGE COMPANY 3 6.63% $7,719
    Mortgage Research Center, LLC 3 6.50% $6,867
    PENNYMAC LOAN SERVICES, LLC 3 6.17% $9,395
    FREEDOM MORTGAGE CORPORATION 2 6.81% $9,681
    Mr. Cooper ( Nationstar Mortgage ) 2 6.81% $15,810
    Regions Bank 2 7.00% $4,561
    LOANDEPOT.COM, LLC 2 6.62% $8,222
    NEWREZ LLC 1 6.25% $16,517
    Paramount Residential Mortgage Group, Inc. 1 6.13% $13,066
    Plains Commerce Bank 1 5.75% $6,870
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.25% $12,618
    ROYAL UNITED MORTGAGE LLC 1 6.63% $8,976
    TOP FLITE FINANCIAL, INC. 1 6.75% $11,576
    AMERICAN FINANCING CORPORATION 1 6.63% $13,930
    U.S. Bank 1 5.63% $7,963
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $4,892
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $10,033
    Arvest Bank 1 6.50% $6,924
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.75% $12,242
    Carrington Mortgage Services, LLC 1 6.13% $16,593
    Citizens Bank 1 6.63% $7,777
    Commerce Bank 1 7.63% $3,643
    GUARANTEED RATE, INC. 1 6.25% $9,137
    Hawthorn Bank 1 6.50% $6,886
    LEADERONE FINANCIAL CORPORATION 1 6.50% $7,181
    LOANPAL, LLC 1 5.50% $12,151
    MID AMERICA MORTGAGE, INC. 1 6.75% $2,766
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $7,343
    MOVEMENT MORTGAGE, LLC 1 6.25% $6,747
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $7,730

    The top Branson FHA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 14 FHA loans originated. Their average total fees are $8,818, which is $1,794 higher than the next largest lender, The Central Trust Bank.

    The lowest fee Branson FHA lenders (with over 10 loans originated) are The Central Trust Bank ($7,024), FLAT BRANCH MORTGAGE, INC. ($8,818), QUICKEN LOANS, LLC ($11,130), .

    The lowest rate Branson FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.24%), FLAT BRANCH MORTGAGE, INC. (6.84%), The Central Trust Bank (6.92%), .

    Branson FHA Loan Limits

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

    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).