Columbus FHA Loan Rates, Closing Costs & Stats

Columbus, NE

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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.

    Columbus's 21 lenders originated 106 FHA loans during 2023. The total origination value was $24,330,000, with an average FHA loan value of $229,528.

    Columbus FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Columbus averaged -0.16% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Columbus's average FHA mortgage closing costs are $6,634.

    The average rate for the prior week (2024-11-08) was 6.25% and one month ago for the week of 2024-10-11, the average rate was 6.35%.

    The average rate one year ago was 7.49%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.2%.

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

    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.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CHARTER WEST BANK 35 6.74% $7,983
    Pinnacle Bank 12 6.44% $6,771
    UNITED WHOLESALE MORTGAGE, LLC 11 6.60% $7,963
    Plains Commerce Bank 10 7.06% $7,667
    QUICKEN LOANS, LLC 5 6.32% $8,966
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.19% $8,060
    U.S. Bank 4 6.72% $7,105
    HOMESIDE FINANCIAL, LLC 3 7.25% $6,777
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.94% $10,896
    FREEDOM MORTGAGE CORPORATION 2 7.25% $11,348
    BROKER SOLUTIONS, INC. 2 6.44% $14,364
    Carrington Mortgage Services, LLC 2 5.88% $10,243
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.88% $9,789
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $18,563
    Bank of the West 1 6.13% $7,211
    LOANDEPOT.COM, LLC 1 6.13% $14,234
    MORIA DEVELOPMENT, INC. 1 6.50% $6,419
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $10,626
    Mr. Cooper ( Nationstar Mortgage ) 1 7.50% $19,413
    SIRVA MORTGAGE, INC. 1 6.75% $10,804
    The Federal Savings Bank 1 5.25% $13,856

    The top Columbus FHA lender as defined by loan originations is CHARTER WEST BANK, with 35 FHA loans originated. Their average total fees are $7,983, which is $1,212 higher than the next largest lender, Pinnacle Bank.

    The lowest fee Columbus FHA lenders (with over 10 loans originated) are Pinnacle Bank ($6,771), Plains Commerce Bank ($7,667), UNITED WHOLESALE MORTGAGE, LLC ($7,963), CHARTER WEST BANK ($7,983) and .

    The lowest rate Columbus FHA lenders (with over 10 loans originated) are Pinnacle Bank (6.44%), UNITED WHOLESALE MORTGAGE, LLC (6.60%), CHARTER WEST BANK (6.74%), Plains Commerce Bank (7.06%) and .

    Columbus FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    COLUMBUS, NE PLATTE 2022 $420,680 $538,650 $651,050 $809,150
    COLUMBUS, NE PLATTE 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. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $180,750 (-8.2%) $208,574 (1.5%) 0.00 70
    2018-02-01 $187,575 (-12.5%) $210,573 (-3.3%) 0.00 70
    2018-03-01 $195,500 (1.6%) $213,800 (-1.5%) 0.00 60
    2018-04-01 $213,750 (16.8%) $229,456 (6.3%) 0.00 63
    2018-05-01 $227,850 (4.8%) $234,248 (7.2%) 0.00 60
    2018-06-01 $214,000 (14.5%) $230,096 (6.5%) 0.00 61
    2018-07-01 $192,175 (5.3%) $213,545 (3.5%) 0.00 60
    2018-08-01 $201,825 (9.1%) $218,695 (4.2%) 0.00 69
    2018-09-01 $214,900 (8.0%) $222,132 (3.4%) 0.00 68
    2018-10-01 $225,000 (21.1%) $234,346 (10.1%) 0.00 64
    2018-11-01 $216,500 (22.7%) $229,707 (9.3%) 0.00 68
    2018-12-01 $213,950 (9.2%) $232,000 (7.4%) 0.00 63
    2019-01-01 $239,900 (32.7%) $254,677 (22.1%) 0.00 61
    2019-02-01 $244,950 (30.6%) $255,617 (21.4%) 0.00 60
    2019-03-01 $249,257 (27.5%) $255,637 (19.6%) 0.00 59
    2019-04-01 $254,282 (19.0%) $258,323 (12.6%) 0.00 60
    2019-05-01 $229,900 (0.9%) $253,807 (8.4%) 0.00 76
    2019-06-01 $229,900 (7.4%) $264,098 (14.8%) 0.00 74
    2019-07-01 $229,900 (19.6%) $260,526 (22.0%) 0.00 78
    2019-08-01 $221,200 (9.6%) $258,170 (18.1%) 0.00 77
    2019-09-01 $208,150 (-3.1%) $249,230 (12.2%) 0.00 83
    2019-10-01 $200,200 (-11.0%) $244,058 (4.1%) 0.00 84
    2019-11-01 $220,000 (1.6%) $257,895 (12.3%) 0.00 77
    2019-12-01 $211,000 (-1.4%) $251,691 (8.5%) 0.00 63
    2020-01-01 $237,750 (-0.9%) $260,079 (2.1%) 0.00 59
    2020-02-01 $266,250 (8.7%) $271,211 (6.1%) 0.00 57
    2020-03-01 $274,450 (10.1%) $280,193 (9.6%) 0.00 66
    2020-04-01 $277,425 (9.1%) $289,712 (12.2%) 0.00 69
    2020-05-01 $257,750 (12.1%) $274,305 (8.1%) 0.00 80
    2020-06-01 $271,000 (17.9%) $285,595 (8.1%) 0.00 61
    2020-07-01 $287,825 (25.2%) $295,436 (13.4%) 0.00 52
    2020-08-01 $279,450 (26.3%) $293,067 (13.5%) 0.00 55
    2020-09-01 $263,225 (26.5%) $270,256 (8.4%) 0.00 58
    2020-10-01 $269,900 (34.8%) $279,264 (14.4%) 0.00 63
    2020-11-01 $251,175 (14.2%) $277,629 (7.7%) 0.00 57
    2020-12-01 $250,000 (18.5%) $278,799 (10.8%) 0.00 53
    2021-01-01 $245,000 (3.1%) $272,620 (4.8%) 0.00 43
    2021-02-01 $258,225 (-3.0%) $295,072 (8.8%) 0.00 29
    2021-03-01 $271,750 (-1.0%) $280,033 (-0.1%) 0.00 39
    2021-04-01 $271,750 (-2.1%) $273,989 (-5.4%) 0.00 37
    2021-05-01 $274,000 (6.3%) $281,696 (2.7%) 0.00 34
    2021-06-01 $286,000 (5.5%) $298,496 (4.5%) 0.00 39
    2021-07-01 $286,000 (-0.6%) $300,457 (1.7%) 0.00 45
    2021-08-01 $278,750 (-0.3%) $282,079 (-3.8%) 0.00 43
    2021-09-01 $232,350 (-11.7%) $259,180 (-4.1%) 0.00 41
    2021-10-01 $235,000 (-12.9%) $254,051 (-9.0%) 0.00 51
    2021-11-01 $252,450 (0.5%) $274,586 (-1.1%) 0.00 61
    2021-12-01 $279,700 (11.9%) $295,335 (5.9%) 0.00 56
    2022-01-01 $264,900 (8.1%) $284,744 (4.5%) 0.00 51
    2022-02-01 $265,000 (2.6%) $289,301 (-2.0%) 0.00 42
    2022-03-01 $264,900 (-2.5%) $294,879 (5.3%) 0.00 40
    2022-04-01 $309,000 (13.7%) $335,009 (22.3%) 0.00 44
    2022-05-01 $285,000 (4.0%) $327,309 (16.2%) 0.00 60
    2022-06-01 $285,000 (-0.4%) $320,613 (7.4%) 0.00 66
    2022-07-01 $291,000 (1.8%) $351,686 (17.1%) 0.00 67
    2022-08-01 $285,000 (2.2%) $328,692 (16.5%) 0.00 71
    2022-09-01 $304,450 (31.0%) $337,041 (30.0%) 0.00 80
    2022-10-01 $296,500 (26.2%) $325,469 (28.1%) 0.00 75
    2022-11-01 $295,950 (17.2%) $334,193 (21.7%) 0.00 63
    2022-12-01 $285,000 (1.9%) $315,886 (7.0%) 0.00 67
    2023-01-01 $285,000 (7.6%) $316,330 (11.1%) 0.00 67
    2023-02-01 $285,000 (7.6%) $324,100 (12.0%) 0.00 63
    2023-03-01 $299,000 (12.9%) $325,152 (10.3%) 0.00 59
    2023-04-01 $272,500 (-11.8%) $322,368 (-3.8%) 0.00 70
    2023-05-01 $280,950 (-1.4%) $329,181 (0.6%) 0.00 60
    2023-06-01 $315,000 (10.5%) $369,857 (15.4%) 0.00 60
    2023-07-01 $307,000 (5.5%) $356,870 (1.5%) 0.00 59
    2023-08-01 $318,700 (11.8%) $352,952 (7.4%) 0.00 75
    2023-09-01 $301,500 (-1.0%) $347,264 (3.0%) 0.00 75
    2023-10-01 $314,725 (6.2%) $346,856 (6.6%) 0.00 81
    2023-11-01 $319,450 (7.9%) $343,443 (2.8%) 0.00 76
    2023-12-01 $330,950 (16.1%) $339,962 (7.6%) 0.00 74
    2024-01-01 $299,725 (5.2%) $322,737 (2.0%) 0.00 76
    2024-02-01 $284,925 (0.0%) $315,045 (-2.8%) 0.00 73
    2024-03-01 $289,900 (-3.0%) $315,156 (-3.1%) 0.00 77
    2024-04-01 $285,000 (4.6%) $313,117 (-2.9%) 0.00 74
    2024-05-01 $306,125 (9.0%) $335,786 (2.0%) 0.00 74
    2024-06-01 $310,000 (-1.6%) $360,423 (-2.6%) 0.00 63
    2024-07-01 $339,500 (10.6%) $378,556 (6.1%) 0.00 65
    2024-08-01 $337,000 (5.7%) $367,709 (4.2%) 0.00 64
    2024-09-01 $344,750 (14.3%) $390,506 (12.5%) 0.00 67
    2024-10-01 $326,250 (3.7%) $353,782 (2.0%) 0.00 84
    Columbus's median listing price for 2024-10-01 was $326,250, a difference of $11,525 (3.7%) versus the prior year and $-18,500 versus the prior month.

    Columbus's median listing price comes in at 0% of the national average.

    Columbus's average listing price for 2024-10-01 was $353,782, a difference of $6,926 (2.0%) versus the prior year and $-36,724 versus the prior month.

    For the 2024-10-01 period, Columbus had 84 MLS listings, a difference of 17 listings (25%) versus the prior month and 3 listings (4%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Columbus (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,544 sqft
    2018-02-01 0 days 1,514 sqft
    2018-03-01 0 days 1,437 sqft
    2018-04-01 0 days 1,481 sqft
    2018-05-01 0 days 1,517 sqft
    2018-06-01 0 days 1,544 sqft
    2018-07-01 0 days 1,536 sqft
    2018-08-01 0 days 1,520 sqft
    2018-09-01 0 days 1,532 sqft
    2018-10-01 0 days 1,751 sqft
    2018-11-01 0 days 1,652 sqft
    2018-12-01 0 days 1,643 sqft
    2019-01-01 0 days 1,725 sqft
    2019-02-01 0 days 1,694 sqft
    2019-03-01 0 days 1,676 sqft
    2019-04-01 0 days 1,682 sqft
    2019-05-01 0 days 1,717 sqft
    2019-06-01 0 days 1,730 sqft
    2019-07-01 0 days 1,744 sqft
    2019-08-01 0 days 1,740 sqft
    2019-09-01 0 days 1,678 sqft
    2019-10-01 0 days 1,611 sqft
    2019-11-01 0 days 1,710 sqft
    2019-12-01 0 days 1,714 sqft
    2020-01-01 0 days 1,724 sqft
    2020-02-01 0 days 1,728 sqft
    2020-03-01 0 days 1,673 sqft
    2020-04-01 0 days 1,771 sqft
    2020-05-01 0 days 1,769 sqft
    2020-06-01 0 days 1,769 sqft
    2020-07-01 0 days 1,861 sqft
    2020-08-01 0 days 1,861 sqft
    2020-09-01 0 days 1,752 sqft
    2020-10-01 0 days 1,633 sqft
    2020-11-01 0 days 1,651 sqft
    2020-12-01 0 days 1,650 sqft
    2021-01-01 0 days 1,667 sqft
    2021-02-01 0 days 1,613 sqft
    2021-03-01 0 days 1,626 sqft
    2021-04-01 0 days 1,624 sqft
    2021-05-01 0 days 1,456 sqft
    2021-06-01 0 days 1,595 sqft
    2021-07-01 0 days 1,587 sqft
    2021-08-01 0 days 1,456 sqft
    2021-09-01 0 days 1,383 sqft
    2021-10-01 0 days 1,440 sqft
    2021-11-01 0 days 1,460 sqft
    2021-12-01 0 days 1,518 sqft
    2022-01-01 0 days 1,456 sqft
    2022-02-01 0 days 1,456 sqft
    2022-03-01 0 days 1,460 sqft
    2022-04-01 0 days 1,603 sqft
    2022-05-01 0 days 1,558 sqft
    2022-06-01 0 days 1,536 sqft
    2022-07-01 0 days 1,600 sqft
    2022-08-01 0 days 1,547 sqft
    2022-09-01 0 days 1,479 sqft
    2022-10-01 0 days 1,476 sqft
    2022-11-01 0 days 1,550 sqft
    2022-12-01 0 days 1,452 sqft
    2023-01-01 0 days 1,446 sqft
    2023-02-01 0 days 1,431 sqft
    2023-03-01 0 days 1,443 sqft
    2023-04-01 0 days 1,446 sqft
    2023-05-01 0 days 1,511 sqft
    2023-06-01 0 days 1,549 sqft
    2023-07-01 0 days 1,539 sqft
    2023-08-01 0 days 1,531 sqft
    2023-09-01 0 days 1,499 sqft
    2023-10-01 0 days 1,555 sqft
    2023-11-01 0 days 1,505 sqft
    2023-12-01 0 days 1,536 sqft
    2024-01-01 0 days 1,500 sqft
    2024-02-01 0 days 1,427 sqft
    2024-03-01 0 days 1,492 sqft
    2024-04-01 0 days 1,464 sqft
    2024-05-01 0 days 1,423 sqft
    2024-06-01 0 days 1,481 sqft
    2024-07-01 0 days 1,590 sqft
    2024-08-01 0 days 1,632 sqft
    2024-09-01 0 days 1,567 sqft
    2024-10-01 0 days 1,401 sqft
    Columbus's median listing age (time on market) for 2024-10-01 was 0 days.

    Columbus's median square footage for active listings during the 2024-10-01 period was 1,401 sqft. One year prior, the average listing was 1,555 sqft.

    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).