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 209 lenders originated 7,252 FHA loans during 2022. The total origination value was $1,492,580,000, with an average FHA loan value of $205,816.
Cincinnati FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Cincinnati
averaged
-0.23%
for the week of 2023-11-24, compared to the national average (all FHA variants) of
0% for the same period.
Cincinnati's average FHA mortgage closing costs are $6,697.
The average rate for the prior week (2023-11-17) was
6.97% and
one month ago for the week of 2023-10-20, the
average rate was 6.87%.
The average rate one year ago was 6%.
For refis of the same type during the week of 2023-11-24, the average rate
was -1.32%.
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
665 FHA loans originated. Their average total fees are
$8,873, which is $1,050
higher than the next largest lender,
CALIBER HOME LOANS, INC..
The lowest fee Cincinnati FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE ($3,248), JPMorgan Chase Bank ($5,431), PNC Bank ($5,514), Fifth Third Bank ($5,800) and Mortgage Research Center, LLC ($5,995).
The lowest rate Cincinnati FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE (3.58%), PLANET HOME LENDING, LLC (3.74%), First Guaranty Mortgage Corporation (3.94%), Lakeview Community Capital, LLC (3.95%) and LAKEVIEW LOAN SERVICING, LLC (4.14%).
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 | $223,148 (20.8%) | $307,307 (9.9%) | 0.83 | 5,227 |
2018-02-01 | $237,230 (23.8%) | $319,926 (11.1%) | 0.86 | 5,019 |
2018-03-01 | $257,100 (21.3%) | $344,606 (12.8%) | 0.90 | 4,838 |
2018-04-01 | $268,950 (17.5%) | $354,671 (11.7%) | 0.91 | 5,011 |
2018-05-01 | $274,900 (14.8%) | $358,842 (11.3%) | 0.92 | 5,304 |
2018-06-01 | $269,900 (12.5%) | $352,214 (8.9%) | 0.90 | 5,806 |
2018-07-01 | $269,900 (12.5%) | $349,663 (9.3%) | 0.90 | 6,182 |
2018-08-01 | $259,400 (9.4%) | $341,476 (7.7%) | 0.87 | 6,453 |
2018-09-01 | $254,900 (8.5%) | $336,666 (6.3%) | 0.86 | 6,634 |
2018-10-01 | $249,900 (10.1%) | $332,350 (6.4%) | 0.85 | 6,712 |
2018-11-01 | $245,450 (9.1%) | $328,181 (6.3%) | 0.83 | 6,599 |
2018-12-01 | $239,900 (9.1%) | $328,810 (7.8%) | 0.83 | 5,923 |
2019-01-01 | $239,450 (7.3%) | $323,996 (5.4%) | 0.83 | 5,387 |
2019-02-01 | $252,450 (6.4%) | $341,275 (6.7%) | 0.85 | 4,953 |
2019-03-01 | $266,371 (3.6%) | $353,612 (2.6%) | 0.87 | 4,925 |
2019-04-01 | $277,450 (3.2%) | $365,113 (2.9%) | 0.88 | 4,962 |
2019-05-01 | $289,900 (5.5%) | $375,754 (4.7%) | 0.91 | 5,146 |
2019-06-01 | $285,450 (5.8%) | $371,221 (5.4%) | 0.89 | 5,257 |
2019-07-01 | $282,450 (4.7%) | $367,936 (5.2%) | 0.88 | 5,399 |
2019-08-01 | $275,836 (6.3%) | $360,301 (5.5%) | 0.87 | 5,480 |
2019-09-01 | $269,741 (5.8%) | $355,716 (5.7%) | 0.86 | 5,496 |
2019-10-01 | $265,208 (6.1%) | $352,660 (6.1%) | 0.86 | 5,493 |
2019-11-01 | $259,900 (5.9%) | $345,306 (5.2%) | 0.85 | 5,174 |
2019-12-01 | $259,000 (8.0%) | $341,964 (4.0%) | 0.86 | 4,606 |
2020-01-01 | $264,450 (10.4%) | $346,328 (6.9%) | 0.88 | 4,110 |
2020-02-01 | $279,900 (10.9%) | $368,113 (7.9%) | 0.92 | 3,602 |
2020-03-01 | $299,000 (12.3%) | $384,636 (8.8%) | 0.94 | 3,510 |
2020-04-01 | $299,450 (7.9%) | $383,189 (5.0%) | 0.94 | 3,568 |
2020-05-01 | $324,900 (12.1%) | $399,764 (6.4%) | 0.99 | 3,433 |
2020-06-01 | $333,925 (17.0%) | $420,625 (13.3%) | 0.98 | 3,167 |
2020-07-01 | $335,862 (18.9%) | $427,991 (16.3%) | 0.97 | 2,929 |
2020-08-01 | $322,092 (16.8%) | $425,777 (18.2%) | 0.92 | 2,958 |
2020-09-01 | $314,950 (16.8%) | $425,604 (19.7%) | 0.90 | 3,006 |
2020-10-01 | $299,900 (13.1%) | $417,097 (18.3%) | 0.86 | 3,060 |
2020-11-01 | $290,300 (11.7%) | $408,428 (18.3%) | 0.85 | 2,960 |
2020-12-01 | $292,450 (12.9%) | $413,988 (21.1%) | 0.87 | 2,571 |
2021-01-01 | $299,900 (13.4%) | $427,830 (23.5%) | 0.90 | 2,181 |
2021-02-01 | $316,799 (13.2%) | $441,149 (19.8%) | 0.92 | 1,785 |
2021-03-01 | $325,000 (8.7%) | $453,169 (17.8%) | 0.92 | 1,715 |
2021-04-01 | $347,101 (15.9%) | $479,395 (25.1%) | 0.94 | 1,691 |
2021-05-01 | $356,900 (9.9%) | $489,262 (22.4%) | 0.95 | 1,862 |
2021-06-01 | $348,458 (4.4%) | $480,220 (14.2%) | 0.92 | 2,102 |
2021-07-01 | $325,000 (-3.2%) | $455,462 (6.4%) | 0.86 | 2,498 |
2021-08-01 | $315,475 (-2.1%) | $433,845 (1.9%) | 0.84 | 2,832 |
2021-09-01 | $304,950 (-3.2%) | $429,321 (0.9%) | 0.81 | 2,854 |
2021-10-01 | $300,000 (0.0%) | $426,539 (2.3%) | 0.80 | 2,716 |
2021-11-01 | $299,450 (3.2%) | $420,985 (3.1%) | 0.80 | 2,464 |
2021-12-01 | $296,950 (1.5%) | $426,952 (3.1%) | 0.81 | 2,127 |
2022-01-01 | $299,900 (0.0%) | $435,203 (1.7%) | 0.81 | 1,807 |
2022-02-01 | $322,000 (1.6%) | $461,539 (4.6%) | 0.84 | 1,447 |
2022-03-01 | $319,450 (-1.7%) | $458,663 (1.2%) | 0.80 | 1,401 |
2022-04-01 | $324,800 (-6.4%) | $453,574 (-5.4%) | 0.77 | 1,469 |
2022-05-01 | $324,950 (-9.0%) | $449,596 (-8.1%) | 0.74 | 1,855 |
2022-06-01 | $325,000 (-6.7%) | $449,850 (-6.3%) | 0.72 | 2,160 |
2022-07-01 | $315,000 (-3.1%) | $435,521 (-4.4%) | 0.71 | 2,532 |
2022-08-01 | $322,400 (2.2%) | $435,716 (0.4%) | 0.75 | 2,606 |
2022-09-01 | $325,000 (6.6%) | $443,585 (3.3%) | 0.76 | 2,511 |
2022-10-01 | $324,900 (8.3%) | $443,800 (4.1%) | 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%) | $446,840 (4.7%) | 0.80 | 2,352 |
2023-01-01 | $327,450 (9.2%) | $452,172 (3.9%) | 0.81 | 2,049 |
2023-02-01 | $359,950 (11.8%) | $489,414 (6.0%) | 0.87 | 1,735 |
2023-03-01 | $365,656 (14.5%) | $505,579 (10.2%) | 0.86 | 1,670 |
2023-04-01 | $385,000 (18.5%) | $511,818 (12.8%) | 0.90 | 1,837 |
2023-05-01 | $389,500 (19.9%) | $519,032 (15.4%) | 0.88 | 1,904 |
2023-06-01 | $389,900 (20.0%) | $511,054 (13.6%) | 0.88 | 2,123 |
2023-07-01 | $383,367 (21.7%) | $513,590 (17.9%) | 0.87 | 2,252 |
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 |
Cincinnati's median listing price comes in at 84% of the national average.
Cincinnati's average listing price for 2023-10-01 was $483,367, a difference of $39,567 (8.9%) versus the prior year and $-14,294 versus the prior month.
For the 2023-10-01 period, Cincinnati had 2,924 MLS listings, a difference of 260 listings (10%) versus the prior month and 179 listings (7%) 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 | 1,854 sqft |
2018-02-01 | 68 days | 1,875 sqft |
2018-03-01 | 49 days | 2,000 sqft |
2018-04-01 | 44 days | 2,094 sqft |
2018-05-01 | 39 days | 2,140 sqft |
2018-06-01 | 40 days | 2,116 sqft |
2018-07-01 | 43 days | 2,103 sqft |
2018-08-01 | 45 days | 2,065 sqft |
2018-09-01 | 49 days | 2,014 sqft |
2018-10-01 | 52 days | 1,976 sqft |
2018-11-01 | 54 days | 1,947 sqft |
2018-12-01 | 64 days | 1,911 sqft |
2019-01-01 | 72 days | 1,885 sqft |
2019-02-01 | 67 days | 1,956 sqft |
2019-03-01 | 51 days | 2,003 sqft |
2019-04-01 | 43 days | 2,046 sqft |
2019-05-01 | 40 days | 2,111 sqft |
2019-06-01 | 42 days | 2,112 sqft |
2019-07-01 | 46 days | 2,108 sqft |
2019-08-01 | 47 days | 2,066 sqft |
2019-09-01 | 49 days | 2,024 sqft |
2019-10-01 | 50 days | 1,992 sqft |
2019-11-01 | 52 days | 1,958 sqft |
2019-12-01 | 64 days | 1,926 sqft |
2020-01-01 | 71 days | 1,928 sqft |
2020-02-01 | 60 days | 2,017 sqft |
2020-03-01 | 44 days | 2,082 sqft |
2020-04-01 | 45 days | 2,077 sqft |
2020-05-01 | 47 days | 2,176 sqft |
2020-06-01 | 45 days | 2,213 sqft |
2020-07-01 | 43 days | 2,176 sqft |
2020-08-01 | 38 days | 2,108 sqft |
2020-09-01 | 37 days | 2,040 sqft |
2020-10-01 | 37 days | 1,990 sqft |
2020-11-01 | 40 days | 1,893 sqft |
2020-12-01 | 52 days | 1,880 sqft |
2021-01-01 | 54 days | 1,844 sqft |
2021-02-01 | 49 days | 1,829 sqft |
2021-03-01 | 33 days | 1,851 sqft |
2021-04-01 | 31 days | 1,922 sqft |
2021-05-01 | 24 days | 1,980 sqft |
2021-06-01 | 24 days | 1,926 sqft |
2021-07-01 | 25 days | 1,850 sqft |
2021-08-01 | 28 days | 1,800 sqft |
2021-09-01 | 33 days | 1,780 sqft |
2021-10-01 | 36 days | 1,749 sqft |
2021-11-01 | 38 days | 1,721 sqft |
2021-12-01 | 46 days | 1,678 sqft |
2022-01-01 | 57 days | 1,673 sqft |
2022-02-01 | 51 days | 1,671 sqft |
2022-03-01 | 31 days | 1,681 sqft |
2022-04-01 | 24 days | 1,682 sqft |
2022-05-01 | 21 days | 1,742 sqft |
2022-06-01 | 22 days | 1,794 sqft |
2022-07-01 | 25 days | 1,782 sqft |
2022-08-01 | 30 days | 1,773 sqft |
2022-09-01 | 36 days | 1,783 sqft |
2022-10-01 | 33 days | 1,824 sqft |
2022-11-01 | 40 days | 1,813 sqft |
2022-12-01 | 51 days | 1,788 sqft |
2023-01-01 | 55 days | 1,798 sqft |
2023-02-01 | 49 days | 1,796 sqft |
2023-03-01 | 38 days | 1,797 sqft |
2023-04-01 | 31 days | 1,855 sqft |
2023-05-01 | 32 days | 1,972 sqft |
2023-06-01 | 30 days | 1,982 sqft |
2023-07-01 | 31 days | 1,950 sqft |
2023-08-01 | 32 days | 1,948 sqft |
2023-09-01 | 32 days | 1,969 sqft |
2023-10-01 | 33 days | 1,933 sqft |
Cincinnati's median square footage for active listings during the 2023-10-01 period was 1,933 sqft. One year prior, the average listing was 1,824 sqft.