Cincinnati FHA Loan Rates, Closing Costs & Stats
CINCINNATI, OH-KY-IN
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.
Cincinnati's 196 lenders originated 5,932 FHA loans during 2023. The total origination value was $1,348,440,000, with an average FHA loan value of $227,316.
Cincinnati FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Cincinnati
averaged
6%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Cincinnati's average FHA mortgage closing costs are $7,112.
The average rate for the prior week (2024-09-27) was
5.99% and
one month ago for the week of 2024-08-30, the
average rate was 6.35%.
The average rate one year ago was 7.09%.
For refis of the same type during the week of 2024-10-04, the average rate
was 6.59%.
Cincinnati 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 Cincinnati level.
The top Cincinnati FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
600 FHA loans originated. Their average total fees are
$9,885, which is $1,334
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Cincinnati FHA lenders (with over 10 loans originated) are
MID AMERICA MORTGAGE, INC. ($5,228), Fifth Third Bank ($5,343), RUOFF MORTGAGE COMPANY, INC. ($6,669), U.S. Bank ($7,098) and Guardian Savings Bank, A Federal Savings Bank ($7,186).
The lowest rate Cincinnati FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.50%), NVR Mortgage Finance, Inc. (5.73%), CARDINAL FINANCIAL (6.01%), AMERISAVE MORTGAGE CORPORATION (6.02%) and VICTORY MORTGAGE, L.L.C. (6.07%).
Cincinnati FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
CINCINNATI, OH-KY-IN | DEARBORN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | FRANKLIN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | OHIO | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | UNION | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | BOONE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | BRACKEN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | CAMPBELL | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | GALLATIN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | GRANT | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | KENTON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | PENDLETON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | BROWN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | BUTLER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | CLERMONT | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | HAMILTON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | WARREN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CINCINNATI, OH-KY-IN | DEARBORN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | FRANKLIN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | OHIO | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | UNION | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | BOONE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | BRACKEN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | CAMPBELL | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | GALLATIN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | GRANT | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | KENTON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | PENDLETON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | BROWN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | BUTLER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | CLERMONT | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | HAMILTON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
CINCINNATI, OH-KY-IN | WARREN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Cincinnati (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $222,500 (20.7%) | $307,339 (9.9%) | 0.82 | 5,218 |
2018-02-01 | $237,000 (23.9%) | $319,983 (11.1%) | 0.86 | 5,010 |
2018-03-01 | $255,000 (20.3%) | $344,718 (12.8%) | 0.89 | 4,838 |
2018-04-01 | $268,950 (17.5%) | $354,734 (11.7%) | 0.91 | 5,011 |
2018-05-01 | $274,900 (14.8%) | $358,952 (11.3%) | 0.92 | 5,302 |
2018-06-01 | $269,900 (12.5%) | $352,269 (9.0%) | 0.90 | 5,805 |
2018-07-01 | $269,900 (12.5%) | $349,730 (9.3%) | 0.90 | 6,180 |
2018-08-01 | $259,418 (9.5%) | $341,535 (7.7%) | 0.87 | 6,449 |
2018-09-01 | $254,690 (8.4%) | $336,675 (6.3%) | 0.86 | 6,630 |
2018-10-01 | $249,900 (10.1%) | $332,396 (6.4%) | 0.85 | 6,708 |
2018-11-01 | $245,450 (9.1%) | $328,228 (6.3%) | 0.83 | 6,595 |
2018-12-01 | $239,900 (9.1%) | $328,874 (7.9%) | 0.83 | 5,922 |
2019-01-01 | $239,450 (7.6%) | $324,059 (5.4%) | 0.83 | 5,386 |
2019-02-01 | $252,450 (6.5%) | $341,348 (6.7%) | 0.85 | 4,951 |
2019-03-01 | $266,371 (4.5%) | $353,633 (2.6%) | 0.87 | 4,923 |
2019-04-01 | $277,450 (3.2%) | $365,085 (2.9%) | 0.88 | 4,960 |
2019-05-01 | $289,900 (5.5%) | $375,756 (4.7%) | 0.91 | 5,143 |
2019-06-01 | $285,000 (5.6%) | $371,223 (5.4%) | 0.89 | 5,255 |
2019-07-01 | $282,450 (4.7%) | $367,857 (5.2%) | 0.88 | 5,398 |
2019-08-01 | $275,836 (6.3%) | $360,267 (5.5%) | 0.87 | 5,479 |
2019-09-01 | $269,741 (5.9%) | $355,702 (5.7%) | 0.86 | 5,495 |
2019-10-01 | $265,208 (6.1%) | $352,658 (6.1%) | 0.86 | 5,493 |
2019-11-01 | $259,900 (5.9%) | $345,346 (5.2%) | 0.85 | 5,173 |
2019-12-01 | $259,000 (8.0%) | $342,009 (4.0%) | 0.86 | 4,605 |
2020-01-01 | $264,500 (10.5%) | $346,436 (6.9%) | 0.88 | 4,108 |
2020-02-01 | $279,900 (10.9%) | $368,272 (7.9%) | 0.92 | 3,598 |
2020-03-01 | $299,000 (12.3%) | $384,791 (8.8%) | 0.94 | 3,506 |
2020-04-01 | $299,450 (7.9%) | $383,323 (5.0%) | 0.94 | 3,565 |
2020-05-01 | $324,900 (12.1%) | $399,801 (6.4%) | 0.99 | 3,432 |
2020-06-01 | $334,225 (17.3%) | $420,800 (13.4%) | 0.98 | 3,165 |
2020-07-01 | $336,950 (19.3%) | $428,223 (16.4%) | 0.98 | 2,926 |
2020-08-01 | $322,282 (16.8%) | $425,901 (18.2%) | 0.92 | 2,956 |
2020-09-01 | $315,005 (16.8%) | $425,724 (19.7%) | 0.90 | 3,004 |
2020-10-01 | $299,900 (13.1%) | $417,208 (18.3%) | 0.86 | 3,058 |
2020-11-01 | $290,510 (11.8%) | $408,504 (18.3%) | 0.85 | 2,959 |
2020-12-01 | $292,450 (12.9%) | $414,041 (21.1%) | 0.87 | 2,570 |
2021-01-01 | $299,900 (13.4%) | $427,965 (23.5%) | 0.90 | 2,178 |
2021-02-01 | $317,300 (13.4%) | $441,337 (19.8%) | 0.92 | 1,783 |
2021-03-01 | $325,000 (8.7%) | $453,223 (17.8%) | 0.92 | 1,715 |
2021-04-01 | $347,400 (16.0%) | $479,569 (25.1%) | 0.94 | 1,690 |
2021-05-01 | $356,900 (9.9%) | $489,372 (22.4%) | 0.95 | 1,861 |
2021-06-01 | $348,458 (4.3%) | $480,220 (14.1%) | 0.92 | 2,102 |
2021-07-01 | $325,000 (-3.6%) | $455,528 (6.4%) | 0.86 | 2,497 |
2021-08-01 | $315,995 (-2.0%) | $433,994 (1.9%) | 0.84 | 2,829 |
2021-09-01 | $304,950 (-3.2%) | $429,369 (0.9%) | 0.81 | 2,853 |
2021-10-01 | $300,000 (0.0%) | $426,638 (2.3%) | 0.80 | 2,715 |
2021-11-01 | $299,450 (3.1%) | $420,985 (3.1%) | 0.80 | 2,464 |
2021-12-01 | $296,950 (1.5%) | $426,952 (3.1%) | 0.80 | 2,127 |
2022-01-01 | $299,900 (0.0%) | $435,203 (1.7%) | 0.81 | 1,806 |
2022-02-01 | $322,000 (1.5%) | $461,596 (4.6%) | 0.84 | 1,446 |
2022-03-01 | $319,450 (-1.7%) | $458,633 (1.2%) | 0.80 | 1,401 |
2022-04-01 | $324,800 (-6.5%) | $453,574 (-5.4%) | 0.77 | 1,469 |
2022-05-01 | $324,950 (-9.0%) | $449,609 (-8.1%) | 0.74 | 1,855 |
2022-06-01 | $325,000 (-6.7%) | $449,907 (-6.3%) | 0.72 | 2,159 |
2022-07-01 | $315,000 (-3.1%) | $435,575 (-4.4%) | 0.71 | 2,530 |
2022-08-01 | $322,375 (2.0%) | $435,786 (0.4%) | 0.75 | 2,604 |
2022-09-01 | $325,000 (6.6%) | $443,643 (3.3%) | 0.76 | 2,510 |
2022-10-01 | $324,900 (8.3%) | $443,816 (4.0%) | 0.76 | 2,745 |
2022-11-01 | $325,000 (8.5%) | $444,280 (5.5%) | 0.78 | 2,715 |
2022-12-01 | $325,000 (9.5%) | $446,899 (4.7%) | 0.80 | 2,353 |
2023-01-01 | $327,450 (9.2%) | $452,234 (3.9%) | 0.81 | 2,050 |
2023-02-01 | $359,950 (11.8%) | $489,466 (6.0%) | 0.87 | 1,736 |
2023-03-01 | $367,347 (15.0%) | $505,645 (10.3%) | 0.87 | 1,672 |
2023-04-01 | $385,000 (18.5%) | $511,811 (12.8%) | 0.90 | 1,838 |
2023-05-01 | $389,500 (19.9%) | $518,492 (15.3%) | 0.88 | 1,906 |
2023-06-01 | $389,900 (20.0%) | $510,455 (13.5%) | 0.88 | 2,124 |
2023-07-01 | $383,367 (21.7%) | $513,414 (17.9%) | 0.87 | 2,250 |
2023-08-01 | $375,000 (16.3%) | $502,303 (15.3%) | 0.86 | 2,425 |
2023-09-01 | $372,500 (14.6%) | $497,661 (12.2%) | 0.87 | 2,664 |
2023-10-01 | $356,450 (9.7%) | $483,367 (8.9%) | 0.84 | 2,924 |
2023-11-01 | $344,153 (5.9%) | $465,584 (4.8%) | 0.82 | 3,028 |
2023-12-01 | $335,000 (3.1%) | $454,966 (1.8%) | 0.82 | 2,773 |
2024-01-01 | $329,900 (0.8%) | $451,122 (-0.3%) | 0.81 | 2,451 |
2024-02-01 | $336,850 (-6.4%) | $469,102 (-4.2%) | 0.81 | 2,190 |
2024-03-01 | $350,000 (-4.7%) | $489,433 (-3.2%) | 0.82 | 2,142 |
2024-04-01 | $374,998 (-2.6%) | $495,292 (-3.2%) | 0.87 | 2,264 |
2024-05-01 | $383,375 (-1.6%) | $507,104 (-2.2%) | 0.87 | 2,419 |
2024-06-01 | $379,900 (-2.6%) | $505,407 (-1.0%) | 0.85 | 2,768 |
2024-07-01 | $359,500 (-6.2%) | $481,075 (-6.3%) | 0.82 | 3,029 |
2024-08-01 | $349,900 (-6.7%) | $465,165 (-7.4%) | 0.81 | 3,364 |
2024-09-01 | $337,000 (-9.5%) | $458,804 (-7.8%) | 0.00 | 3,582 |
Cincinnati's median listing price comes in at 0% of the national average.
Cincinnati's average listing price for 2024-09-01 was $458,804, a difference of $-38,857 (-7.8%) versus the prior year and $-6,361 versus the prior month.
For the 2024-09-01 period, Cincinnati had 3,582 MLS listings, a difference of 218 listings (6%) versus the prior month and 918 listings (34%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Cincinnati (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 78 days | 1,860 sqft |
2018-02-01 | 69 days | 1,886 sqft |
2018-03-01 | 48 days | 2,008 sqft |
2018-04-01 | 44 days | 2,100 sqft |
2018-05-01 | 39 days | 2,142 sqft |
2018-06-01 | 40 days | 2,120 sqft |
2018-07-01 | 43 days | 2,106 sqft |
2018-08-01 | 45 days | 2,068 sqft |
2018-09-01 | 49 days | 2,019 sqft |
2018-10-01 | 52 days | 1,985 sqft |
2018-11-01 | 54 days | 1,956 sqft |
2018-12-01 | 64 days | 1,925 sqft |
2019-01-01 | 72 days | 1,897 sqft |
2019-02-01 | 67 days | 1,963 sqft |
2019-03-01 | 51 days | 2,011 sqft |
2019-04-01 | 43 days | 2,057 sqft |
2019-05-01 | 40 days | 2,119 sqft |
2019-06-01 | 42 days | 2,119 sqft |
2019-07-01 | 46 days | 2,114 sqft |
2019-08-01 | 47 days | 2,071 sqft |
2019-09-01 | 49 days | 2,031 sqft |
2019-10-01 | 50 days | 2,000 sqft |
2019-11-01 | 52 days | 1,971 sqft |
2019-12-01 | 64 days | 1,937 sqft |
2020-01-01 | 71 days | 1,943 sqft |
2020-02-01 | 61 days | 2,032 sqft |
2020-03-01 | 45 days | 2,096 sqft |
2020-04-01 | 45 days | 2,091 sqft |
2020-05-01 | 47 days | 2,177 sqft |
2020-06-01 | 45 days | 2,211 sqft |
2020-07-01 | 43 days | 2,188 sqft |
2020-08-01 | 38 days | 2,122 sqft |
2020-09-01 | 37 days | 2,046 sqft |
2020-10-01 | 37 days | 1,997 sqft |
2020-11-01 | 40 days | 1,899 sqft |
2020-12-01 | 52 days | 1,883 sqft |
2021-01-01 | 54 days | 1,842 sqft |
2021-02-01 | 50 days | 1,832 sqft |
2021-03-01 | 33 days | 1,860 sqft |
2021-04-01 | 31 days | 1,934 sqft |
2021-05-01 | 24 days | 1,993 sqft |
2021-06-01 | 24 days | 1,942 sqft |
2021-07-01 | 25 days | 1,861 sqft |
2021-08-01 | 28 days | 1,812 sqft |
2021-09-01 | 33 days | 1,792 sqft |
2021-10-01 | 36 days | 1,762 sqft |
2021-11-01 | 38 days | 1,731 sqft |
2021-12-01 | 46 days | 1,680 sqft |
2022-01-01 | 57 days | 1,680 sqft |
2022-02-01 | 51 days | 1,674 sqft |
2022-03-01 | 31 days | 1,686 sqft |
2022-04-01 | 24 days | 1,687 sqft |
2022-05-01 | 21 days | 1,749 sqft |
2022-06-01 | 22 days | 1,802 sqft |
2022-07-01 | 25 days | 1,791 sqft |
2022-08-01 | 30 days | 1,784 sqft |
2022-09-01 | 36 days | 1,792 sqft |
2022-10-01 | 33 days | 1,836 sqft |
2022-11-01 | 40 days | 1,828 sqft |
2022-12-01 | 51 days | 1,800 sqft |
2023-01-01 | 55 days | 1,811 sqft |
2023-02-01 | 49 days | 1,821 sqft |
2023-03-01 | 38 days | 1,836 sqft |
2023-04-01 | 31 days | 1,914 sqft |
2023-05-01 | 32 days | 2,006 sqft |
2023-06-01 | 30 days | 2,005 sqft |
2023-07-01 | 31 days | 1,974 sqft |
2023-08-01 | 32 days | 1,968 sqft |
2023-09-01 | 32 days | 1,973 sqft |
2023-10-01 | 33 days | 1,937 sqft |
2023-11-01 | 38 days | 1,888 sqft |
2023-12-01 | 44 days | 1,830 sqft |
2024-01-01 | 54 days | 1,789 sqft |
2024-02-01 | 39 days | 1,796 sqft |
2024-03-01 | 37 days | 1,847 sqft |
2024-04-01 | 32 days | 1,878 sqft |
2024-05-01 | 29 days | 1,880 sqft |
2024-06-01 | 30 days | 1,876 sqft |
2024-07-01 | 32 days | 1,840 sqft |
2024-08-01 | 33 days | 1,780 sqft |
2024-09-01 | 0 days | 1,755 sqft |
Cincinnati's median square footage for active listings during the 2024-09-01 period was 1,755 sqft. One year prior, the average listing was 1,973 sqft.