Cincinnati FHA Loans

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 220 lenders originated 11,356 FHA loans during 2021. The total origination value was $2,059,710,000, with an average FHA loan value of $181,376.

Cincinnati FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Cincinnati averaged 5.4% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

The average rate for the prior week (2022-05-13) was 5.21% and one month ago for the week of 2022-04-15, the average rate was 5.2%.

The average rate one year ago was 2.97%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.13%.

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

Cincinnati FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Cincinnati level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 1,031 2.76% $6,313
CALIBER HOME LOANS, INC. 554 3.10% $6,380
FREEDOM MORTGAGE CORPORATION 352 2.94% $4,129
AMERICAN MORTGAGE SERVICE COMPANY 295 3.10% $6,684
Paramount Residential Mortgage Group, Inc. 280 3.46% $7,932
NATIONS RELIABLE LENDING, LLC 279 3.53% $7,902
Mr. Cooper ( Nationstar Mortgage ) 250 3.34% $3,932
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 243 3.43% $7,375
PENNYMAC LOAN SERVICES, LLC 208 3.13% $4,368
DAS Acquisition Company, LLC 207 3.46% $7,233
The Huntington National Bank 203 3.20% $6,865
LAKEVIEW LOAN SERVICING, LLC 202 3.06% $4,395
CROSSCOUNTRY MORTGAGE, LLC 201 3.37% $8,947
RUOFF MORTGAGE COMPANY, INC. 189 3.31% $5,753
UNITED WHOLESALE MORTGAGE, LLC 181 2.83% $6,621
Union Savings Bank 180 2.94% $5,800
PRIMELENDING, A PLAINSCAPITAL COMPANY 173 3.41% $7,512
UNION HOME MORTGAGE CORP. 170 3.22% $7,019
VILLAGE CAPITAL & INVESTMENT LLC 162 2.99% $2,412
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 159 3.33% $7,592
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 154 3.41% $7,864
GUARANTEED RATE, INC. 132 2.93% $6,913
NVR Mortgage Finance, Inc. 125 3.11% $9,587
BAYSHORE MORTGAGE FUNDING, LLC 124 3.38% $7,629
Carrington Mortgage Services, LLC 120 3.59% $6,914
VICTORY MORTGAGE, L.L.C. 120 2.66% $7,024
T2 FINANCIAL LLC 99 3.35% $8,731
RAPID MORTGAGE COMPANY 98 3.35% $7,939
STOCKTON MORTGAGE CORPORATION 97 3.43% $7,586
LOANDEPOT.COM, LLC 97 3.28% $7,395
U.S. Bank 88 3.21% $6,348
Bank of England 87 3.40% $7,419
HOME POINT FINANCIAL CORPORATION 86 2.79% $5,771
Fifth Third Bank 86 2.98% $5,757
Prosperity Home Mortgage, LLC 83 3.37% $6,382
POLARIS HOME FUNDING CORP. 82 3.38% $7,648
SUCCESS MORTGAGE PARTNERS, INC. 82 3.46% $7,109
Guardian Savings Bank, A Federal Savings Bank 81 2.79% $5,405
NEWREZ LLC 78 3.02% $4,440
Citizens Bank 75 2.80% $6,407
VAN DYK MORTGAGE CORPORATION 69 3.36% $6,595
AMERIFIRST FINANCIAL CORPORATION 67 3.58% $7,540
PACIFIC RESIDENTIAL MORTGAGE, LLC 67 3.77% $7,980
HOMEBRIDGE FINANCIAL SERVICES, INC. 66 2.71% $5,315
AMERISAVE MORTGAGE CORPORATION 64 3.02% $7,507
First Guaranty Mortgage Corporation 64 2.94% $6,126
ARC HOME LLC 60 3.08% $6,778
GUARANTEED RATE AFFINITY, LLC 56 2.91% $6,744
Nations Lending Corporation 56 3.29% $6,930
AMERICAN PACIFIC MORTGAGE CORPORATION 55 3.45% $6,791
AMCAP MORTGAGE, LTD. 55 3.31% $7,153
SUMMIT FUNDING, INC. 54 3.43% $8,564
AmeriHome Mortgage Company, LLC 53 3.02% $4,202
ENVOY MORTGAGE, LTD 50 3.31% $6,500
Cincinnati Federal 49 2.93% $7,036
SIBCY CLINE MORTGAGE SERVICES, INC. 48 2.68% $6,342
THRIVE MORTGAGE, LLC 46 3.29% $6,837
FINANCE OF AMERICA MORTGAGE LLC 44 3.26% $7,350
BROKER SOLUTIONS, INC. 44 2.99% $7,778
OPTION FINANCIAL, LLC 43 3.27% $6,694
MID AMERICA MORTGAGE, INC. 43 3.02% $4,452
PLANET HOME LENDING, LLC 42 2.75% $4,006
AMERICAN FINANCIAL NETWORK, INC. 42 3.02% $10,691
HOMESIDE FINANCIAL, LLC 40 3.22% $7,912
LIBERTY HOME MORTGAGE CORPORATION 34 3.27% $7,579
RiverHills Bank 34 3.35% $6,364
CMG MORTGAGE, INC. 32 3.23% $5,622
First Financial Bank 32 3.07% $6,444
MOVEMENT MORTGAGE, LLC 31 3.24% $6,730
RELIANCE FIRST CAPITAL, LLC 27 3.03% $9,544
JLB CORPORATION 25 2.95% $7,302
GUARANTY HOME MORTGAGE CORPORATION 23 2.89% $6,421
Lakeview Community Capital, LLC 23 2.99% $4,406
1st National Bank 22 2.80% $6,615
EQUITY RESOURCES, INC. 22 3.07% $6,453
Gateway First Bank 21 3.14% $5,978
PNC Bank 21 2.95% $5,334
MYCUMORTGAGE, LLC 20 3.01% $5,743
CHURCHILL MORTGAGE CORPORATION 20 2.84% $7,310
Ixonia Bank 18 3.42% $8,084
UNITED MORTGAGE CORP. 16 3.23% $7,134
TCF National Bank 16 3.04% $6,505
EVERETT FINANCIAL, INC. 16 3.70% $6,343
Regions Bank 16 2.81% $5,268
Western Ohio Mortgage Corporation 15 2.73% $7,115
JPMorgan Chase Bank 15 3.01% $4,129
Mortgage Research Center, LLC 14 3.09% $5,614
InterContinental Capital Group, Inc 13 2.84% $7,361
FIRST COMMUNITY MORTGAGE, INC. 13 3.05% $5,373
AMERICAN FINANCIAL RESOURCES, INC. 13 3.49% $7,205
PRIMARY RESIDENTIAL MORTGAGE, INC. 13 3.88% $6,151
AMERICAN FINANCING CORPORATION 12 3.10% $7,222
US MORTGAGE CORPORATION 12 3.51% $7,800
Equity Prime Mortgage LLC 12 3.81% $6,583
The Union Bank Company 11 2.61% $6,514
OCEANSIDE MORTGAGE COMPANY 11 2.69% $2,715
GENEVA FINANCIAL, LLC 11 3.11% $7,399
MUTUAL OF OMAHA MORTGAGE, INC. 10 3.19% $7,521
CELEBRITY HOME LOANS, LLC 10 3.44% $7,938
WRIGHT-PATT CREDIT UNION, INC. 10 2.91% $5,879
Northpointe Bank 9 2.97% $6,714
GUILD MORTGAGE COMPANY 9 3.49% $7,895
ROYAL UNITED MORTGAGE LLC 8 2.91% $9,232
A Mortgage Boutique, LLC 8 2.84% $5,406
Mercantile Bank of Michigan 8 3.11% $6,161
Civista Bank 8 2.75% $6,888
Servion, Inc. 8 3.34% $5,089
Barrington Bank & Trust Company, N.A. 8 3.54% $6,524
RESIDENTIAL BANCORP. 7 2.93% $7,073
FIRST EQUITY MORTGAGE INCORPORATED 7 2.64% $8,854
WesBanco Bank, Inc. 7 2.84% $6,180
OCMBC, INC. 7 2.95% $6,325
M/I FINANCIAL, LLC 6 2.94% $11,326
SUN WEST MORTGAGE COMPANY, INC. 6 3.46% $6,981
NFM, INC. 6 3.02% $8,175
LAND HOME FINANCIAL SERVICES, INC. 6 3.08% $6,516
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 6 3.19% $6,223
1ST SIGNATURE LENDING, LLC 6 3.25% $8,228
Manufacturers and Traders Trust Company 6 3.17% $6,537
Hometown Equity Mortgage, LLC 6 3.50% $7,147
Hometown Lenders, Inc. 5 3.63% $8,982
Central Bank & Trust Company 5 2.63% $7,289
DEVELOPER'S MORTGAGE COMPANY 5 2.78% $6,498
Heartland Bank 5 2.90% $5,524
DIRECT MORTGAGE LOANS, LLC 5 3.48% $7,056
DHI MORTGAGE COMPANY, LTD. 5 3.07% $7,649
Peoples Bank 5 2.70% $5,180
Forcht Bank 5 2.83% $4,638
NORTHERN MORTGAGE SERVICES, LLC 4 3.13% $4,266
Warsaw Federal Savings and Loan Association 4 2.47% $7,067
Bank of America 4 2.59% $5,283
TOP FLITE FINANCIAL, INC. 4 3.09% $12,014
Citizens Union Bank of Shelbyville 4 3.34% $5,105
CityWorth Mortgage LLC 4 2.72% $9,254
Commonwealth Bank and Trust Company 4 3.09% $5,333
MORIA DEVELOPMENT, INC. 4 3.84% $11,298
NATIONS DIRECT MORTGAGE, LLC 4 3.59% $6,349
Peoples Bank 3 3.63% $9,108
HAMILTON HOME LOANS, INC. 3 3.46% $6,292
Flagstar Bank, FSB 3 2.80% $9,033
KELLER MORTGAGE, LLC 3 2.92% $5,593
FBC MORTGAGE, LLC 3 3.25% $7,984
Renasant Bank 3 3.04% $7,214
Republic Bank & Trust Company 3 3.00% $5,978
SOUTHPOINT FINANCIAL SERVICES, INC. 3 2.92% $6,455
The Park National Bank 3 3.58% $5,907
BETTER MORTGAGE CORPORATION 3 2.96% $6,912
VERITAS FUNDING, LLC 3 2.58% $13,249
ZILLOW HOME LOANS, LLC 3 3.13% $7,154
MORTGAGE 1 INCORPORATED 2 3.87% $5,086
MLD MORTGAGE INC. 2 3.25% $5,240
United Fidelity Funding Corp. 2 3.13% $8,240
CONTOUR MORTGAGE CORPORATION 2 3.25% $4,995
SIRVA MORTGAGE, INC. 2 3.31% $6,881
DRAPER AND KRAMER MORTGAGE CORP. 2 3.13% $7,374
Florida Capital Bank 2 2.88% $10,058
FAY SERVICING, LLC 2 2.75% $5,222
Willamette Valley Bank 2 3.00% $12,748
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 3.25% $6,947
Residential Mortgage Solutions, Inc. 2 2.94% $6,718
BNC National Bank 2 2.88% $6,789
MIDLAND MORTGAGE CORPORATION 2 3.50% $3,699
PHH Mortgage Corporation 2 3.00% $7,518
LOANPAL, LLC 2 2.25% $8,137
First Home Bank 2 3.56% $8,885
Goldwater Bank, N.A. 2 3.63% $6,322
Paramount Bank 2 2.63% $7,185
ENDEAVOR CAPITAL, LLC. 2 3.13% $4,813
Plains Commerce Bank 2 2.63% $9,858
JAMES B. NUTTER & COMPANY 2 3.25% $2,808
First Option Mortgage, LLC 2 3.25% $6,538
MEMBER FIRST MORTGAGE, LLC 1 3.00% $5,928
Magnolia Bank 1 3.38% $7,310
Texana Bank 1 2.75% $12,389
THE EQUITABLE MORTGAGE CORPORATION 1 2.63% $6,716
The Federal Savings Bank 1 2.88% $15,470
Century Mortgage Company DBA Century Lending Company 1 3.13% $6,185
KeyBank 1 2.88% $8,802
Low VA Rates, LLC 1 2.75% $3,614
TIAA, FSB 1 2.75% $5,466
TOTAL MORTGAGE SERVICES, LLC 1 3.13% $6,299
TOWNE MORTGAGE COMPANY 1 2.63% $5,950
TruHome Solutions, LLC 1 3.13% $6,511
Wyndham Capital Mortgage, Inc. 1 2.75% $6,941
BEST CAPITAL FUNDING 1 3.13% $7,882
BELEM SERVICING LLC 1 3.25% $8,230
UNITED SECURITY FINANCIAL CORP 1 2.50% $5,462
BAY EQUITY LLC 1 3.13% $7,046
INLAND BANK & TRUST 1 3.63% $5,813
INTERLINC MORTGAGE SERVICES, LLC 1 4.25% $4,724
VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.75% $7,865
YOUR HOME FINANCIAL LLC 1 3.75% $6,033
LENDUS, LLC 1 3.88% $8,026
AMERICAN HERITAGE FCU 1 3.13% $8,114
Old National Bank 1 2.75% $5,357
First Harrison Bank 1 3.00% $5,632
First Federal Bank, A FSB 1 2.63% $5,067
First Federal Bank 1 2.88% $8,329
First Merchants Bank 1 4.50% $5,102
First Savings Bank 1 3.13% $8,080
PLAZA HOME MORTGAGE, INC. 1 2.63% $12,034
Wells Fargo Bank 1 3.13% $5,613
FAIR WAY LENDING LLC 1 2.63% $6,551
EVANSVILLE TEACHERS 1 2.75% $6,868
EMBRACE HOME LOANS, INC. 1 2.75% $7,307
NEXERA HOLDING LLC 1 3.25% $3,709
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.63% $15,165
J. VIRGIL, INC. 1 3.25% $6,856
1st Source Bank 1 3.50% $7,057
RESIDENTIAL HOME FUNDING CORP. 1 2.75% $11,843
ROSS MORTGAGE CORPORATION 1 4.75% $7,413
GVC MORTGAGE, INC. 1 2.88% $8,001
Somerville Bank 1 2.88% $9,967
SOUTH CENTRAL BANK, INC. 1 3.00% $4,696
SOUTHERN TRUST MORTGAGE, LLC 1 3.25% $0
SOUTHWEST STAGE FUNDING, LLC 1 2.75% $2,936
Commerce Home Mortgage, Inc. 1 3.00% $8,450
MICHIGAN MUTUAL, INC. 1 3.00% $9,510
Meridian Bank Corporation 1 2.63% $7,181
SWBC MORTGAGE CORPORATION 1 3.75% $7,144

The top Cincinnati FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,031 FHA loans originated. Their average total fees are $6,313, which is $67 lower than the next largest lender, CALIBER HOME LOANS, INC..

The lowest fee Cincinnati FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,412), OCEANSIDE MORTGAGE COMPANY ($2,715), Mr. Cooper ( Nationstar Mortgage ) ($3,932), PLANET HOME LENDING, LLC ($4,006) and JPMorgan Chase Bank ($4,129).

The lowest rate Cincinnati FHA lenders (with over 10 loans originated) are The Union Bank Company (2.61%), VICTORY MORTGAGE, L.L.C. (2.66%), SIBCY CLINE MORTGAGE SERVICES, INC. (2.68%), OCEANSIDE MORTGAGE COMPANY (2.69%) and HOMEBRIDGE FINANCIAL SERVICES, INC. (2.71%).

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

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).