Cincinnati FHA Loans

CINCINNATI, OH-KY-IN

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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.

    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).