Columbia FHA Loan Rates, Closing Costs & Stats
COLUMBIA, MO
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.
Columbia's 60 lenders originated 318 FHA loans during 2023. The total origination value was $74,320,000, with an average FHA loan value of $233,711.
Columbia FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Columbia
averaged
5.66%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Columbia's average FHA mortgage closing costs are $6,272.
The average rate for the prior week (2024-09-27) was
5.95% and
one month ago for the week of 2024-08-30, the
average rate was 6.31%.
The average rate one year ago was 7.25%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.45%.
Columbia 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 Columbia level.
The top Columbia FHA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with
71 FHA loans originated. Their average total fees are
$7,750, which is $2,242
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Columbia FHA lenders (with over 10 loans originated) are
The Central Trust Bank ($7,248), FLAT BRANCH MORTGAGE, INC. ($7,750), Midwest Mortgage Associates Corporation ($7,825), DAS Acquisition Company, LLC ($9,473) and QUICKEN LOANS, LLC ($9,992).
The lowest rate Columbia FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.19%), Midwest Mortgage Associates Corporation (6.52%), The Central Trust Bank (6.54%), FLAT BRANCH MORTGAGE, INC. (6.78%) and DAS Acquisition Company, LLC (7.02%).
Columbia FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
COLUMBIA, MO | BOONE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
COLUMBIA, MO | COOPER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
COLUMBIA, MO | HOWARD | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
COLUMBIA, MO | BOONE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
COLUMBIA, MO | COOPER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
COLUMBIA, MO | HOWARD | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Columbia (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 | $224,950 (8.3%) | $276,908 (6.5%) | 0.83 | 751 |
2018-02-01 | $225,000 (4.7%) | $281,307 (3.4%) | 0.82 | 763 |
2018-03-01 | $235,000 (2.7%) | $286,311 (1.0%) | 0.82 | 827 |
2018-04-01 | $245,650 (-0.9%) | $291,637 (-0.3%) | 0.83 | 856 |
2018-05-01 | $252,500 (1.8%) | $294,170 (-1.9%) | 0.84 | 902 |
2018-06-01 | $249,900 (2.5%) | $293,181 (-3.0%) | 0.83 | 912 |
2018-07-01 | $247,725 (3.4%) | $292,417 (-0.1%) | 0.83 | 921 |
2018-08-01 | $237,425 (2.5%) | $286,035 (-0.1%) | 0.80 | 952 |
2018-09-01 | $234,900 (4.9%) | $278,854 (0.2%) | 0.79 | 999 |
2018-10-01 | $232,475 (3.4%) | $276,905 (-0.2%) | 0.79 | 1,035 |
2018-11-01 | $228,625 (4.4%) | $272,510 (0.1%) | 0.78 | 957 |
2018-12-01 | $229,000 (3.6%) | $273,410 (0.5%) | 0.79 | 889 |
2019-01-01 | $229,000 (1.8%) | $277,344 (0.2%) | 0.79 | 793 |
2019-02-01 | $229,125 (1.8%) | $278,383 (-1.0%) | 0.77 | 802 |
2019-03-01 | $236,429 (0.6%) | $286,481 (0.1%) | 0.77 | 791 |
2019-04-01 | $244,981 (-0.3%) | $292,610 (0.3%) | 0.78 | 775 |
2019-05-01 | $246,250 (-2.5%) | $290,208 (-1.4%) | 0.77 | 787 |
2019-06-01 | $242,750 (-2.9%) | $291,937 (-0.4%) | 0.76 | 809 |
2019-07-01 | $239,950 (-3.1%) | $292,671 (0.1%) | 0.75 | 825 |
2019-08-01 | $240,882 (1.5%) | $292,977 (2.4%) | 0.76 | 793 |
2019-09-01 | $242,355 (3.2%) | $294,167 (5.5%) | 0.78 | 764 |
2019-10-01 | $244,975 (5.4%) | $294,961 (6.5%) | 0.79 | 742 |
2019-11-01 | $239,950 (5.0%) | $295,020 (8.3%) | 0.79 | 709 |
2019-12-01 | $234,975 (2.6%) | $296,537 (8.5%) | 0.78 | 615 |
2020-01-01 | $228,725 (-0.1%) | $292,560 (5.5%) | 0.76 | 548 |
2020-02-01 | $237,900 (3.8%) | $295,541 (6.2%) | 0.78 | 525 |
2020-03-01 | $250,725 (6.1%) | $305,921 (6.8%) | 0.79 | 549 |
2020-04-01 | $269,450 (10.0%) | $319,532 (9.2%) | 0.84 | 502 |
2020-05-01 | $267,000 (8.4%) | $317,140 (9.3%) | 0.81 | 486 |
2020-06-01 | $272,450 (12.2%) | $333,351 (14.2%) | 0.80 | 469 |
2020-07-01 | $276,950 (15.4%) | $340,382 (16.3%) | 0.80 | 455 |
2020-08-01 | $275,950 (14.6%) | $336,474 (14.9%) | 0.79 | 438 |
2020-09-01 | $263,550 (8.8%) | $326,865 (11.1%) | 0.76 | 409 |
2020-10-01 | $246,950 (0.8%) | $316,448 (7.3%) | 0.71 | 398 |
2020-11-01 | $244,475 (1.9%) | $326,009 (10.5%) | 0.71 | 375 |
2020-12-01 | $251,950 (7.2%) | $342,801 (15.6%) | 0.75 | 330 |
2021-01-01 | $254,400 (11.2%) | $367,875 (25.7%) | 0.76 | 265 |
2021-02-01 | $248,425 (4.4%) | $387,681 (31.2%) | 0.72 | 200 |
2021-03-01 | $269,852 (7.6%) | $373,193 (22.0%) | 0.77 | 212 |
2021-04-01 | $292,200 (8.4%) | $377,574 (18.2%) | 0.79 | 200 |
2021-05-01 | $275,000 (3.0%) | $356,451 (12.4%) | 0.73 | 225 |
2021-06-01 | $274,975 (0.9%) | $369,738 (10.9%) | 0.72 | 267 |
2021-07-01 | $275,000 (-0.7%) | $354,061 (4.0%) | 0.73 | 311 |
2021-08-01 | $268,000 (-2.9%) | $344,978 (2.5%) | 0.71 | 314 |
2021-09-01 | $251,450 (-4.6%) | $330,602 (1.1%) | 0.67 | 303 |
2021-10-01 | $269,900 (9.3%) | $338,086 (6.8%) | 0.72 | 294 |
2021-11-01 | $260,972 (6.8%) | $337,864 (3.6%) | 0.70 | 256 |
2021-12-01 | $279,424 (10.9%) | $352,931 (3.0%) | 0.76 | 219 |
2022-01-01 | $319,900 (25.8%) | $369,876 (0.5%) | 0.86 | 166 |
2022-02-01 | $318,950 (28.4%) | $393,127 (1.4%) | 0.83 | 164 |
2022-03-01 | $304,988 (13.0%) | $386,958 (3.7%) | 0.76 | 185 |
2022-04-01 | $316,000 (8.2%) | $400,066 (6.0%) | 0.75 | 212 |
2022-05-01 | $341,500 (24.2%) | $429,559 (20.5%) | 0.78 | 270 |
2022-06-01 | $338,250 (23.0%) | $425,917 (15.2%) | 0.75 | 320 |
2022-07-01 | $334,900 (21.8%) | $421,103 (18.9%) | 0.75 | 378 |
2022-08-01 | $342,400 (27.8%) | $425,711 (23.4%) | 0.79 | 384 |
2022-09-01 | $348,000 (38.4%) | $421,747 (27.6%) | 0.81 | 381 |
2022-10-01 | $350,000 (29.7%) | $417,986 (23.6%) | 0.82 | 399 |
2022-11-01 | $345,625 (32.4%) | $407,744 (20.7%) | 0.83 | 407 |
2022-12-01 | $342,450 (22.6%) | $406,068 (15.1%) | 0.85 | 355 |
2023-01-01 | $354,450 (10.8%) | $415,031 (12.2%) | 0.88 | 299 |
2023-02-01 | $352,500 (10.5%) | $408,961 (4.0%) | 0.85 | 312 |
2023-03-01 | $367,375 (20.5%) | $433,567 (12.1%) | 0.87 | 313 |
2023-04-01 | $385,000 (21.8%) | $463,182 (15.8%) | 0.90 | 313 |
2023-05-01 | $392,450 (14.9%) | $474,772 (10.5%) | 0.89 | 330 |
2023-06-01 | $397,125 (17.4%) | $474,152 (11.3%) | 0.89 | 331 |
2023-07-01 | $388,904 (16.1%) | $459,401 (9.1%) | 0.88 | 416 |
2023-08-01 | $392,425 (14.6%) | $465,170 (9.3%) | 0.90 | 420 |
2023-09-01 | $386,250 (11.0%) | $464,121 (10.1%) | 0.90 | 414 |
2023-10-01 | $397,000 (13.4%) | $467,196 (11.8%) | 0.93 | 425 |
2023-11-01 | $384,725 (11.3%) | $456,529 (12.0%) | 0.92 | 426 |
2023-12-01 | $374,900 (9.5%) | $450,882 (11.0%) | 0.91 | 420 |
2024-01-01 | $375,000 (5.8%) | $450,563 (8.6%) | 0.92 | 361 |
2024-02-01 | $382,450 (8.5%) | $457,448 (11.9%) | 0.92 | 352 |
2024-03-01 | $375,000 (2.1%) | $456,705 (5.3%) | 0.88 | 364 |
2024-04-01 | $402,200 (4.5%) | $492,324 (6.3%) | 0.94 | 370 |
2024-05-01 | $428,125 (9.1%) | $522,264 (10.0%) | 0.97 | 400 |
2024-06-01 | $425,000 (7.0%) | $509,356 (7.4%) | 0.96 | 441 |
2024-07-01 | $413,650 (6.4%) | $489,489 (6.6%) | 0.95 | 469 |
2024-08-01 | $412,500 (5.1%) | $470,550 (1.2%) | 0.96 | 488 |
2024-09-01 | $395,950 (2.5%) | $456,661 (-1.6%) | 0.00 | 518 |
Columbia's median listing price comes in at 0% of the national average.
Columbia's average listing price for 2024-09-01 was $456,661, a difference of $-7,460 (-1.6%) versus the prior year and $-13,889 versus the prior month.
For the 2024-09-01 period, Columbia had 518 MLS listings, a difference of 30 listings (6%) versus the prior month and 104 listings (25%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Columbia (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 79 days | 1,971 sqft |
2018-02-01 | 72 days | 1,994 sqft |
2018-03-01 | 53 days | 2,069 sqft |
2018-04-01 | 45 days | 2,181 sqft |
2018-05-01 | 47 days | 2,224 sqft |
2018-06-01 | 56 days | 2,210 sqft |
2018-07-01 | 64 days | 2,229 sqft |
2018-08-01 | 65 days | 2,179 sqft |
2018-09-01 | 64 days | 2,135 sqft |
2018-10-01 | 67 days | 2,133 sqft |
2018-11-01 | 77 days | 2,088 sqft |
2018-12-01 | 89 days | 2,029 sqft |
2019-01-01 | 95 days | 1,947 sqft |
2019-02-01 | 89 days | 1,947 sqft |
2019-03-01 | 62 days | 2,066 sqft |
2019-04-01 | 43 days | 2,151 sqft |
2019-05-01 | 47 days | 2,147 sqft |
2019-06-01 | 53 days | 2,152 sqft |
2019-07-01 | 56 days | 2,093 sqft |
2019-08-01 | 59 days | 2,105 sqft |
2019-09-01 | 60 days | 2,125 sqft |
2019-10-01 | 62 days | 2,142 sqft |
2019-11-01 | 67 days | 2,046 sqft |
2019-12-01 | 76 days | 2,030 sqft |
2020-01-01 | 84 days | 1,920 sqft |
2020-02-01 | 59 days | 1,942 sqft |
2020-03-01 | 38 days | 1,963 sqft |
2020-04-01 | 45 days | 2,060 sqft |
2020-05-01 | 45 days | 2,100 sqft |
2020-06-01 | 37 days | 2,089 sqft |
2020-07-01 | 38 days | 2,065 sqft |
2020-08-01 | 42 days | 2,091 sqft |
2020-09-01 | 44 days | 1,996 sqft |
2020-10-01 | 37 days | 1,953 sqft |
2020-11-01 | 41 days | 1,928 sqft |
2020-12-01 | 54 days | 1,966 sqft |
2021-01-01 | 57 days | 1,969 sqft |
2021-02-01 | 28 days | 1,938 sqft |
2021-03-01 | 17 days | 1,950 sqft |
2021-04-01 | 21 days | 2,126 sqft |
2021-05-01 | 15 days | 2,021 sqft |
2021-06-01 | 16 days | 1,990 sqft |
2021-07-01 | 22 days | 2,055 sqft |
2021-08-01 | 28 days | 1,929 sqft |
2021-09-01 | 31 days | 1,919 sqft |
2021-10-01 | 30 days | 1,952 sqft |
2021-11-01 | 35 days | 1,945 sqft |
2021-12-01 | 44 days | 1,976 sqft |
2022-01-01 | 41 days | 2,000 sqft |
2022-02-01 | 26 days | 1,988 sqft |
2022-03-01 | 15 days | 2,058 sqft |
2022-04-01 | 14 days | 2,086 sqft |
2022-05-01 | 14 days | 2,155 sqft |
2022-06-01 | 20 days | 2,096 sqft |
2022-07-01 | 26 days | 2,051 sqft |
2022-08-01 | 37 days | 2,051 sqft |
2022-09-01 | 42 days | 2,042 sqft |
2022-10-01 | 45 days | 2,004 sqft |
2022-11-01 | 46 days | 1,971 sqft |
2022-12-01 | 61 days | 1,975 sqft |
2023-01-01 | 78 days | 1,984 sqft |
2023-02-01 | 56 days | 1,974 sqft |
2023-03-01 | 37 days | 2,000 sqft |
2023-04-01 | 30 days | 2,058 sqft |
2023-05-01 | 31 days | 2,119 sqft |
2023-06-01 | 33 days | 2,220 sqft |
2023-07-01 | 26 days | 2,126 sqft |
2023-08-01 | 42 days | 2,166 sqft |
2023-09-01 | 51 days | 2,200 sqft |
2023-10-01 | 53 days | 2,219 sqft |
2023-11-01 | 54 days | 2,133 sqft |
2023-12-01 | 64 days | 2,076 sqft |
2024-01-01 | 72 days | 2,065 sqft |
2024-02-01 | 50 days | 2,045 sqft |
2024-03-01 | 33 days | 1,981 sqft |
2024-04-01 | 32 days | 2,012 sqft |
2024-05-01 | 36 days | 2,137 sqft |
2024-06-01 | 36 days | 2,129 sqft |
2024-07-01 | 40 days | 2,129 sqft |
2024-08-01 | 44 days | 2,101 sqft |
2024-09-01 | 0 days | 2,072 sqft |
Columbia's median square footage for active listings during the 2024-09-01 period was 2,072 sqft. One year prior, the average listing was 2,200 sqft.