Columbus FHA Loan Rates, Closing Costs & Stats
COLUMBUS, 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.
Columbus's 58 lenders originated 258 FHA loans during 2023. The total origination value was $53,360,000, with an average FHA loan value of $206,822.
Columbus FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Columbus
averaged
0.11%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Columbus's average FHA mortgage closing costs are $6,111.
The average rate for the prior week (2024-11-22) was
6.7% and
one month ago for the week of 2024-10-25, the
average rate was 6.38%.
The average rate one year ago was 7.17%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.1%.
Columbus 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 Columbus level.
The top Columbus FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
27 FHA loans originated. Their average total fees are
$9,227, which is $1,607
higher than the next largest lender,
GVC MORTGAGE, INC..
The lowest fee Columbus FHA lenders (with over 10 loans originated) are
RUOFF MORTGAGE COMPANY, INC. ($6,164), GVC MORTGAGE, INC. ($7,620), HALLMARK HOME MORTGAGE, LLC ($8,749), QUICKEN LOANS, LLC ($9,227) and VANDERBILT MORTGAGE AND FINANCE, INC. ($13,319).
The lowest rate Columbus FHA lenders (with over 10 loans originated) are
VANDERBILT MORTGAGE AND FINANCE, INC. (5.83%), QUICKEN LOANS, LLC (6.43%), RUOFF MORTGAGE COMPANY, INC. (6.89%), HALLMARK HOME MORTGAGE, LLC (6.92%) and GVC MORTGAGE, INC. (6.99%).
Columbus FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
COLUMBUS, IN | BARTHOLOMEW | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
COLUMBUS, IN | BARTHOLOMEW | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Columbus (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 | $230,300 (5.2%) | $286,489 (4.4%) | 0.00 | 234 |
2018-02-01 | $222,950 (1.9%) | $279,744 (0.2%) | 0.00 | 209 |
2018-03-01 | $239,900 (9.3%) | $294,448 (3.5%) | 0.00 | 198 |
2018-04-01 | $259,650 (5.6%) | $304,011 (4.9%) | 0.00 | 189 |
2018-05-01 | $241,195 (-2.3%) | $303,269 (2.3%) | 0.00 | 198 |
2018-06-01 | $239,900 (-3.6%) | $302,124 (2.0%) | 0.00 | 203 |
2018-07-01 | $244,925 (-2.0%) | $302,586 (-0.7%) | 0.00 | 215 |
2018-08-01 | $235,925 (-5.1%) | $301,914 (0.2%) | 0.00 | 221 |
2018-09-01 | $224,900 (-5.3%) | $297,276 (-0.1%) | 0.00 | 212 |
2018-10-01 | $231,875 (3.1%) | $296,413 (2.5%) | 0.00 | 217 |
2018-11-01 | $242,473 (11.7%) | $311,288 (9.6%) | 0.00 | 213 |
2018-12-01 | $259,900 (22.2%) | $325,577 (15.8%) | 0.00 | 202 |
2019-01-01 | $271,050 (17.7%) | $334,679 (16.8%) | 0.00 | 185 |
2019-02-01 | $274,900 (23.3%) | $337,067 (20.5%) | 0.00 | 171 |
2019-03-01 | $284,800 (18.7%) | $339,222 (15.2%) | 0.00 | 169 |
2019-04-01 | $303,950 (17.1%) | $347,570 (14.3%) | 0.00 | 160 |
2019-05-01 | $294,500 (22.1%) | $342,044 (12.8%) | 0.00 | 155 |
2019-06-01 | $289,450 (20.7%) | $338,349 (12.0%) | 0.00 | 155 |
2019-07-01 | $259,900 (6.1%) | $322,916 (6.7%) | 0.00 | 177 |
2019-08-01 | $249,900 (5.9%) | $315,598 (4.5%) | 0.00 | 191 |
2019-09-01 | $249,900 (11.1%) | $314,095 (5.7%) | 0.00 | 197 |
2019-10-01 | $249,900 (7.8%) | $312,866 (5.6%) | 0.00 | 199 |
2019-11-01 | $255,000 (5.2%) | $318,813 (2.4%) | 0.00 | 173 |
2019-12-01 | $257,495 (-0.9%) | $321,297 (-1.3%) | 0.00 | 151 |
2020-01-01 | $249,900 (-7.8%) | $307,654 (-8.1%) | 0.00 | 141 |
2020-02-01 | $249,900 (-9.1%) | $312,716 (-7.2%) | 0.00 | 145 |
2020-03-01 | $256,450 (-10.0%) | $326,556 (-3.7%) | 0.00 | 132 |
2020-04-01 | $249,425 (-17.9%) | $308,188 (-11.3%) | 0.00 | 145 |
2020-05-01 | $249,900 (-15.1%) | $303,723 (-11.2%) | 0.00 | 153 |
2020-06-01 | $242,400 (-16.3%) | $304,782 (-9.9%) | 0.00 | 149 |
2020-07-01 | $245,300 (-5.6%) | $312,885 (-3.1%) | 0.00 | 139 |
2020-08-01 | $247,200 (-1.1%) | $305,017 (-3.4%) | 0.00 | 134 |
2020-09-01 | $254,973 (2.0%) | $306,280 (-2.5%) | 0.00 | 115 |
2020-10-01 | $259,900 (4.0%) | $312,918 (0.0%) | 0.00 | 116 |
2020-11-01 | $262,000 (2.8%) | $314,088 (-1.5%) | 0.00 | 101 |
2020-12-01 | $256,175 (-0.5%) | $302,053 (-6.0%) | 0.00 | 83 |
2021-01-01 | $262,450 (5.0%) | $307,956 (0.1%) | 0.00 | 66 |
2021-02-01 | $273,650 (9.5%) | $312,365 (-0.1%) | 0.00 | 43 |
2021-03-01 | $294,900 (15.0%) | $331,900 (1.6%) | 0.00 | 48 |
2021-04-01 | $297,425 (19.2%) | $347,618 (12.8%) | 0.00 | 48 |
2021-05-01 | $299,900 (20.0%) | $357,030 (17.6%) | 0.00 | 63 |
2021-06-01 | $272,473 (12.4%) | $362,263 (18.9%) | 0.00 | 72 |
2021-07-01 | $272,450 (11.1%) | $341,997 (9.3%) | 0.00 | 85 |
2021-08-01 | $266,150 (7.7%) | $335,044 (9.8%) | 0.00 | 107 |
2021-09-01 | $253,425 (-0.6%) | $343,271 (12.1%) | 0.00 | 107 |
2021-10-01 | $270,450 (4.1%) | $343,877 (9.9%) | 0.00 | 100 |
2021-11-01 | $297,200 (13.4%) | $368,416 (17.3%) | 0.00 | 81 |
2021-12-01 | $319,445 (24.7%) | $346,824 (14.8%) | 0.00 | 82 |
2022-01-01 | $329,445 (25.5%) | $333,005 (8.1%) | 0.00 | 68 |
2022-02-01 | $334,900 (22.4%) | $346,599 (11.0%) | 0.00 | 67 |
2022-03-01 | $345,325 (17.1%) | $710,115 (114.0%) | 0.00 | 65 |
2022-04-01 | $333,995 (12.3%) | $671,222 (93.1%) | 0.00 | 75 |
2022-05-01 | $367,423 (22.5%) | $650,219 (82.1%) | 0.00 | 91 |
2022-06-01 | $374,966 (37.6%) | $626,686 (73.0%) | 0.00 | 103 |
2022-07-01 | $369,900 (35.8%) | $583,747 (70.7%) | 0.00 | 136 |
2022-08-01 | $346,000 (30.0%) | $576,347 (72.0%) | 0.00 | 135 |
2022-09-01 | $337,000 (33.0%) | $564,935 (64.6%) | 0.00 | 132 |
2022-10-01 | $329,000 (21.7%) | $570,637 (65.9%) | 0.00 | 140 |
2022-11-01 | $343,698 (15.7%) | $571,901 (55.2%) | 0.00 | 144 |
2022-12-01 | $339,900 (6.4%) | $374,658 (8.0%) | 0.00 | 121 |
2023-01-01 | $339,450 (3.0%) | $384,674 (15.5%) | 0.00 | 107 |
2023-02-01 | $339,900 (1.5%) | $417,312 (20.4%) | 0.00 | 101 |
2023-03-01 | $379,500 (9.9%) | $458,548 (-35.4%) | 0.00 | 95 |
2023-04-01 | $379,500 (13.6%) | $460,472 (-31.4%) | 0.00 | 92 |
2023-05-01 | $379,500 (3.3%) | $455,824 (-29.9%) | 0.00 | 93 |
2023-06-01 | $392,200 (4.6%) | $460,208 (-26.6%) | 0.00 | 111 |
2023-07-01 | $374,950 (1.4%) | $424,689 (-27.3%) | 0.00 | 104 |
2023-08-01 | $349,475 (1.0%) | $392,000 (-32.0%) | 0.00 | 95 |
2023-09-01 | $345,000 (2.4%) | $398,079 (-29.5%) | 0.00 | 101 |
2023-10-01 | $339,900 (3.3%) | $387,053 (-32.2%) | 0.00 | 126 |
2023-11-01 | $327,400 (-4.7%) | $373,711 (-34.7%) | 0.00 | 127 |
2023-12-01 | $299,900 (-11.8%) | $354,632 (-5.4%) | 0.00 | 120 |
2024-01-01 | $299,900 (-11.7%) | $348,498 (-9.4%) | 0.00 | 110 |
2024-02-01 | $305,200 (-10.2%) | $353,803 (-15.2%) | 0.00 | 90 |
2024-03-01 | $327,450 (-13.7%) | $382,850 (-16.5%) | 0.00 | 98 |
2024-04-01 | $349,950 (-7.8%) | $624,344 (35.6%) | 0.00 | 99 |
2024-05-01 | $355,000 (-6.5%) | $650,131 (42.6%) | 0.00 | 110 |
2024-06-01 | $334,450 (-14.7%) | $592,391 (28.7%) | 0.00 | 132 |
2024-07-01 | $326,375 (-13.0%) | $550,796 (29.7%) | 0.00 | 148 |
2024-08-01 | $337,500 (-3.4%) | $555,975 (41.8%) | 0.00 | 145 |
2024-09-01 | $353,450 (2.5%) | $559,158 (40.5%) | 0.00 | 167 |
2024-10-01 | $347,500 (2.2%) | $552,279 (42.7%) | 0.00 | 164 |
Columbus's median listing price comes in at 0% of the national average.
Columbus's average listing price for 2024-10-01 was $552,279, a difference of $165,226 (42.7%) versus the prior year and $-6,879 versus the prior month.
For the 2024-10-01 period, Columbus had 164 MLS listings, a difference of -3 listings (-2%) versus the prior month and 38 listings (30%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Columbus (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,340 sqft |
2018-02-01 | 0 days | 2,330 sqft |
2018-03-01 | 0 days | 2,571 sqft |
2018-04-01 | 0 days | 2,693 sqft |
2018-05-01 | 0 days | 2,739 sqft |
2018-06-01 | 0 days | 2,490 sqft |
2018-07-01 | 0 days | 2,604 sqft |
2018-08-01 | 0 days | 2,549 sqft |
2018-09-01 | 0 days | 2,405 sqft |
2018-10-01 | 0 days | 2,416 sqft |
2018-11-01 | 0 days | 2,529 sqft |
2018-12-01 | 0 days | 2,656 sqft |
2019-01-01 | 0 days | 2,584 sqft |
2019-02-01 | 0 days | 2,631 sqft |
2019-03-01 | 0 days | 2,715 sqft |
2019-04-01 | 0 days | 2,864 sqft |
2019-05-01 | 0 days | 2,766 sqft |
2019-06-01 | 0 days | 2,624 sqft |
2019-07-01 | 0 days | 2,484 sqft |
2019-08-01 | 0 days | 2,509 sqft |
2019-09-01 | 0 days | 2,610 sqft |
2019-10-01 | 0 days | 2,688 sqft |
2019-11-01 | 0 days | 2,766 sqft |
2019-12-01 | 0 days | 2,734 sqft |
2020-01-01 | 0 days | 2,712 sqft |
2020-02-01 | 0 days | 2,673 sqft |
2020-03-01 | 0 days | 2,802 sqft |
2020-04-01 | 0 days | 2,741 sqft |
2020-05-01 | 0 days | 2,774 sqft |
2020-06-01 | 0 days | 2,600 sqft |
2020-07-01 | 0 days | 2,778 sqft |
2020-08-01 | 0 days | 2,577 sqft |
2020-09-01 | 0 days | 2,316 sqft |
2020-10-01 | 0 days | 2,335 sqft |
2020-11-01 | 0 days | 2,259 sqft |
2020-12-01 | 0 days | 2,112 sqft |
2021-01-01 | 0 days | 2,192 sqft |
2021-02-01 | 0 days | 2,194 sqft |
2021-03-01 | 0 days | 2,324 sqft |
2021-04-01 | 0 days | 2,200 sqft |
2021-05-01 | 0 days | 2,350 sqft |
2021-06-01 | 0 days | 2,342 sqft |
2021-07-01 | 0 days | 2,344 sqft |
2021-08-01 | 0 days | 2,238 sqft |
2021-09-01 | 0 days | 2,151 sqft |
2021-10-01 | 0 days | 2,151 sqft |
2021-11-01 | 0 days | 2,366 sqft |
2021-12-01 | 0 days | 2,000 sqft |
2022-01-01 | 0 days | 1,920 sqft |
2022-02-01 | 0 days | 1,884 sqft |
2022-03-01 | 0 days | 2,163 sqft |
2022-04-01 | 0 days | 2,028 sqft |
2022-05-01 | 0 days | 2,207 sqft |
2022-06-01 | 0 days | 2,365 sqft |
2022-07-01 | 0 days | 2,465 sqft |
2022-08-01 | 0 days | 2,428 sqft |
2022-09-01 | 0 days | 2,398 sqft |
2022-10-01 | 0 days | 2,282 sqft |
2022-11-01 | 0 days | 2,310 sqft |
2022-12-01 | 0 days | 2,240 sqft |
2023-01-01 | 0 days | 2,147 sqft |
2023-02-01 | 0 days | 2,043 sqft |
2023-03-01 | 0 days | 2,281 sqft |
2023-04-01 | 0 days | 2,399 sqft |
2023-05-01 | 0 days | 2,259 sqft |
2023-06-01 | 0 days | 2,380 sqft |
2023-07-01 | 0 days | 2,386 sqft |
2023-08-01 | 0 days | 2,446 sqft |
2023-09-01 | 0 days | 2,397 sqft |
2023-10-01 | 0 days | 2,302 sqft |
2023-11-01 | 0 days | 2,236 sqft |
2023-12-01 | 0 days | 2,112 sqft |
2024-01-01 | 0 days | 2,093 sqft |
2024-02-01 | 0 days | 2,072 sqft |
2024-03-01 | 0 days | 2,211 sqft |
2024-04-01 | 0 days | 2,334 sqft |
2024-05-01 | 0 days | 2,473 sqft |
2024-06-01 | 0 days | 2,419 sqft |
2024-07-01 | 0 days | 2,287 sqft |
2024-08-01 | 0 days | 2,370 sqft |
2024-09-01 | 0 days | 2,433 sqft |
2024-10-01 | 0 days | 2,471 sqft |
Columbus's median square footage for active listings during the 2024-10-01 period was 2,471 sqft. One year prior, the average listing was 2,302 sqft.