Columbus FHA Loan Rates, Closing Costs & Stats

COLUMBUS, OH

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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 190 lenders originated 5,614 FHA loans during 2022. The total origination value was $1,407,820,000, with an average FHA loan value of $250,770.

    Columbus FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Columbus averaged 6.33% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

    Columbus's average FHA mortgage closing costs are $7,349.

    The average rate for the prior week (2023-05-19) was 6.31% and one month ago for the week of 2023-04-21, the average rate was 6.15%.

    The average rate one year ago was 4.97%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 529 4.57% $9,729
    NFM, INC. 204 5.46% $11,455
    CROSSCOUNTRY MORTGAGE, LLC 191 5.54% $10,412
    T2 FINANCIAL LLC 162 5.47% $10,480
    UNITED WHOLESALE MORTGAGE, LLC 156 5.15% $10,095
    UNION HOME MORTGAGE CORP. 154 5.23% $9,422
    CALIBER HOME LOANS, INC. 153 4.68% $8,593
    RUOFF MORTGAGE COMPANY, INC. 140 5.45% $7,764
    The Huntington National Bank 135 4.79% $8,784
    HOMESIDE FINANCIAL, LLC 125 4.83% $9,377
    DHI MORTGAGE COMPANY, LTD. 121 4.01% $9,766
    LOANDEPOT.COM, LLC 113 4.82% $10,072
    FREEDOM MORTGAGE CORPORATION 111 4.95% $9,081
    Mr. Cooper ( Nationstar Mortgage ) 107 4.65% $11,465
    RAPID MORTGAGE COMPANY 105 5.58% $11,286
    AMERICAN MORTGAGE SERVICE COMPANY 95 4.81% $9,818
    PENNYMAC LOAN SERVICES, LLC 86 4.24% $9,820
    J. VIRGIL, INC. 78 5.22% $9,554
    NVR Mortgage Finance, Inc. 71 4.25% $14,296
    LAKEVIEW LOAN SERVICING, LLC 64 4.13% $6,747
    Carrington Mortgage Services, LLC 62 4.90% $9,909
    CARDINAL FINANCIAL 62 5.00% $11,146
    GSF Mortgage Corporation 60 5.26% $9,032
    AMERISAVE MORTGAGE CORPORATION 57 4.32% $10,716
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 54 5.35% $10,789
    PULTE MORTGAGE LLC 50 4.59% $8,906
    EQUITY RESOURCES, INC. 50 4.98% $7,355
    M/I FINANCIAL, LLC 48 4.79% $13,380
    DAS Acquisition Company, LLC 47 5.76% $11,520
    VICTORY MORTGAGE, L.L.C. 47 4.37% $10,025
    HOME POINT FINANCIAL CORPORATION 46 4.33% $9,936
    JPMorgan Chase Bank 45 5.00% $6,123
    Flagstar Bank, FSB 44 4.87% $8,028
    BROKER SOLUTIONS, INC. 43 4.97% $10,695
    PRIMARY RESIDENTIAL MORTGAGE, INC. 42 4.99% $10,282
    Bank of England 38 5.08% $12,175
    GUARANTEED RATE, INC. 38 5.26% $9,570
    Fifth Third Bank 36 4.62% $7,191
    FIRST OHIO HOME FINANCE, INC. 35 5.54% $3,845
    NEWREZ LLC 35 5.11% $9,599
    GUILD MORTGAGE COMPANY 35 4.88% $11,330
    Nations Lending Corporation 34 5.02% $11,975
    Hometown Lenders, Inc. 34 5.73% $11,464
    The Union Bank Company 33 4.98% $8,725
    Union Savings Bank 30 4.95% $7,324
    MUTUAL OF OMAHA MORTGAGE, INC. 29 5.03% $11,289
    East Coast Capital Corp. 29 5.03% $11,642
    GUARANTEED RATE AFFINITY, LLC 28 5.39% $9,129
    THE EQUITABLE MORTGAGE CORPORATION 28 5.00% $8,462
    PARTNERS UNITED FINANCIAL, LLC 25 4.53% $11,613
    Equity Prime Mortgage LLC 23 5.35% $8,956
    MOVEMENT MORTGAGE, LLC 22 5.10% $9,595
    EVERETT FINANCIAL, INC. 22 5.37% $8,222
    Citizens Bank 22 4.59% $8,156
    GENEVA FINANCIAL, LLC 21 5.85% $10,910
    MYCUMORTGAGE, LLC 20 4.78% $7,488
    POLARIS HOME FUNDING CORP. 20 5.51% $11,387
    Lakeview Community Capital, LLC 20 4.01% $6,850
    The Federal Savings Bank 19 5.13% $12,316
    TOP FLITE FINANCIAL, INC. 19 5.39% $12,707
    RELIANCE FIRST CAPITAL, LLC 19 5.38% $10,786
    Evolve Bank & Trust 18 5.62% $9,508
    UNITED MORTGAGE CORP. 18 4.91% $10,447
    HALLMARK HOME MORTGAGE, LLC 18 5.87% $9,122
    PLANET HOME LENDING, LLC 18 4.56% $8,907
    NTFN, INC. 17 5.43% $10,854
    Gateway First Bank 17 4.95% $7,604
    Paramount Residential Mortgage Group, Inc. 16 4.65% $10,341
    AMERICAN FINANCING CORPORATION 16 4.52% $9,604
    PNC Bank 16 5.19% $7,242
    AmRes Corporation 14 5.36% $10,931
    VILLAGE CAPITAL MORTGAGE 14 3.76% $3,944
    WRIGHT-PATT CREDIT UNION, INC. 13 4.20% $6,919
    HOMEBRIDGE FINANCIAL SERVICES, INC. 12 4.63% $10,044
    First Financial Bank 12 5.08% $9,002
    NATIONS DIRECT MORTGAGE, LLC 12 4.65% $9,157
    BAYSHORE MORTGAGE FUNDING, LLC 12 5.10% $12,405
    LIBERTY HOME MORTGAGE CORPORATION 12 4.75% $10,583
    NP, Inc. 11 5.81% $9,860
    MORIA DEVELOPMENT, INC. 11 5.50% $9,961
    U.S. Bank 11 5.14% $8,195
    LAND HOME FINANCIAL SERVICES, INC. 10 5.08% $9,107
    AMERICAN PACIFIC MORTGAGE CORPORATION 10 5.42% $14,103
    DEVELOPER'S MORTGAGE COMPANY 10 4.23% $8,619
    Mortgage Research Center, LLC 9 5.55% $8,253
    ENVOY MORTGAGE, LTD 9 5.78% $10,211
    MICHIGAN MUTUAL, INC. 9 5.54% $11,476
    First Guaranty Mortgage Corporation 8 3.88% $9,849
    PRIORITY MORTGAGE CORP. 8 4.13% $7,610
    NATIONWIDE MORTGAGE BANKERS, INC. 8 5.78% $12,449
    AMERIFIRST FINANCIAL CORPORATION 8 6.22% $12,168
    M&T Bank 8 4.52% $8,517
    PRIMELENDING, A PLAINSCAPITAL COMPANY 8 5.81% $8,084
    The State Bank and Trust Company 8 4.63% $8,085
    First Savings Bank 7 6.66% $18,311
    Civista Bank 7 4.34% $7,743
    HOMESPIRE MORTGAGE CORPORATION 7 4.84% $9,309
    The Park National Bank 7 5.05% $7,240
    INSPIRE HOME LOANS INC. 7 4.39% $9,246
    SECURITYNATIONAL MORTGAGE COMPANY 7 5.43% $10,903
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 4.44% $7,756
    ALLIED MORTGAGE GROUP, INC. 6 4.48% $10,258
    LOANPAL, LLC 6 4.67% $11,040
    Neighborhood Loans, Inc. 6 6.35% $11,858
    NATIONS RELIABLE LENDING, LLC 6 5.67% $11,476
    Princeton Mortgage Corporation 5 4.60% $10,664
    AMERICAN FINANCIAL RESOURCES, INC. 5 5.40% $13,570
    ARC HOME LLC 5 4.63% $12,981
    Barrington Bank & Trust Company, N.A. 5 4.89% $13,575
    EMBRACE HOME LOANS, INC. 5 5.17% $10,383
    FIRST COMMUNITY MORTGAGE, INC. 5 5.53% $14,126
    HOWARD HANNA FINANCIAL SERVICES, INC. 5 6.60% $10,360
    KeyBank 5 5.53% $11,309
    Northpointe Bank 5 5.28% $9,696
    TOWNE MORTGAGE COMPANY 5 5.70% $12,808
    VANDERBILT MORTGAGE AND FINANCE, INC. 5 5.55% $12,514
    EUSTIS AND AMERICAN MORTGAGE COMPANY 4 3.94% $8,051
    MIDLAND MORTGAGE CORPORATION 4 4.63% $14,018
    Wells Fargo Bank 4 5.22% $6,642
    AmeriHome Mortgage Company, LLC 4 4.31% $8,869
    Bank of America 4 3.88% $5,899
    THRIVE MORTGAGE, LLC 4 5.53% $12,851
    CHURCHILL MORTGAGE CORPORATION 4 4.12% $9,688
    ZILLOW HOME LOANS, LLC 3 5.63% $9,254
    Heartland Bank 3 5.75% $5,552
    OCEANSIDE MORTGAGE COMPANY 3 4.71% $4,604
    ENDEAVOR CAPITAL, LLC. 3 5.25% $13,054
    RESIDENTIAL BANCORP. 3 5.00% $10,099
    ROYAL UNITED MORTGAGE LLC 3 5.71% $10,403
    SUN WEST MORTGAGE COMPANY, INC. 3 3.82% $11,578
    VERITAS FUNDING, LLC 3 5.17% $14,247
    Ameris Bank 2 5.56% $9,369
    JLB CORPORATION 2 4.13% $9,207
    KELLER MORTGAGE, LLC 2 4.81% $10,678
    Sierra Pacific Mortgage Company, Inc. 2 4.63% $8,200
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 5.63% $10,663
    DIRECT MORTGAGE LOANS, LLC 2 4.63% $8,473
    American Midwest Mortgage Corporation 2 6.44% $11,197
    Strong Home Mortgage, LLC 2 4.75% $13,195
    First Home Bank 2 4.69% $9,470
    WesBanco Bank, Inc. 2 3.88% $7,850
    ROSS MORTGAGE CORPORATION 2 6.25% $10,557
    Wyndham Capital Mortgage, Inc. 2 3.88% $8,625
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 4.50% $21,983
    Hometown Equity Mortgage, LLC 2 5.44% $9,238
    Republic Bank & Trust Company 1 5.13% $8,317
    CRESCENT MORTGAGE COMPANY 1 5.25% $13,236
    CONTOUR MORTGAGE CORPORATION 1 3.63% $10,582
    SIWELL, INC. 1 6.63% $5,946
    SOUTHWEST STAGE FUNDING, LLC 1 6.75% $11,466
    SUCCESS MORTGAGE PARTNERS, INC. 1 5.38% $19,796
    SUMMIT FUNDING, INC. 1 6.75% $11,320
    Magnolia Bank 1 3.88% $9,342
    Congressional Bank 1 4.88% $10,860
    Texana Bank 1 3.50% $11,118
    Commerce Home Mortgage, Inc. 1 3.13% $17,495
    Colonial Savings, F.A. 1 6.25% $15,225
    City Bank 1 5.13% $11,010
    Independent Bank 1 5.63% $8,651
    Capital Bank 1 4.25% $7,863
    BELEM SERVICING LLC 1 3.75% $19,094
    NEW DAY FINANCIAL, LLC 1 5.25% $12,674
    INTERCOASTAL MORTGAGE COMPANY 1 4.88% $15,660
    Arvest Bank 1 6.38% $13,911
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 4.88% $10,231
    Amerifirst Financial, Inc. 1 5.50% $3,849
    US MORTGAGE CORPORATION 1 6.13% $7,255
    Meridian Bank Corporation 1 5.25% $6,471
    MID AMERICA MORTGAGE, INC. 1 4.88% $1,975
    1ST SIGNATURE LENDING, LLC 1 4.50% $8,934
    NORWICH COMMERCIAL GROUP, INC. 1 6.63% $12,801
    Heritage Bank 1 5.63% $8,674
    AMCAP MORTGAGE, LTD. 1 4.63% $10,775
    GUARANTY HOME MORTGAGE CORPORATION 1 3.50% $6,965
    Waterstone Mortgage Corporation 1 3.63% $8,109
    ON Q FINANCIAL, INC. 1 6.00% $15,706
    OCMBC, INC. 1 7.13% $9,602
    First United Bank 1 5.63% $10,783
    First Option Mortgage, LLC 1 5.00% $9,075
    Plains Commerce Bank 1 5.38% $8,213
    First Merchants Bank 1 5.25% $8,835
    PLAZA HOME MORTGAGE, INC. 1 3.75% $9,596
    First Internet Bank of Indiana 1 6.00% $12,413
    Presidential Bank, FSB 1 4.88% $9,048
    First Federal Bank of the Midwest 1 4.63% $11,839
    First Federal Bank 1 6.25% $19,915
    1st National Bank 1 3.63% $5,623
    First Commonwealth Bank 1 4.63% $7,775
    FBC MORTGAGE, LLC 1 5.75% $8,500
    Regions Bank 1 5.25% $8,613

    The top Columbus FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 529 FHA loans originated. Their average total fees are $9,729, which is $1,725 lower than the next largest lender, NFM, INC..

    The lowest fee Columbus FHA lenders (with over 10 loans originated) are FIRST OHIO HOME FINANCE, INC. ($3,845), VILLAGE CAPITAL MORTGAGE ($3,944), JPMorgan Chase Bank ($6,123), LAKEVIEW LOAN SERVICING, LLC ($6,747) and Lakeview Community Capital, LLC ($6,850).

    The lowest rate Columbus FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (3.76%), Lakeview Community Capital, LLC (4.01%), DHI MORTGAGE COMPANY, LTD. (4.01%), LAKEVIEW LOAN SERVICING, LLC (4.13%) and WRIGHT-PATT CREDIT UNION, INC. (4.20%).

    Columbus FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    COLUMBUS, OH DELAWARE 2022 $439,300 $562,350 $679,800 $844,800
    COLUMBUS, OH FAIRFIELD 2022 $439,300 $562,350 $679,800 $844,800
    COLUMBUS, OH FRANKLIN 2022 $439,300 $562,350 $679,800 $844,800
    COLUMBUS, OH HOCKING 2022 $439,300 $562,350 $679,800 $844,800
    COLUMBUS, OH LICKING 2022 $439,300 $562,350 $679,800 $844,800
    COLUMBUS, OH MADISON 2022 $439,300 $562,350 $679,800 $844,800
    COLUMBUS, OH MORROW 2022 $439,300 $562,350 $679,800 $844,800
    COLUMBUS, OH PERRY 2022 $439,300 $562,350 $679,800 $844,800
    COLUMBUS, OH PICKAWAY 2022 $439,300 $562,350 $679,800 $844,800
    COLUMBUS, OH UNION 2022 $439,300 $562,350 $679,800 $844,800
    COLUMBUS, OH DELAWARE 2023 $488,750 $625,700 $756,300 $939,900
    COLUMBUS, OH FAIRFIELD 2023 $488,750 $625,700 $756,300 $939,900
    COLUMBUS, OH FRANKLIN 2023 $488,750 $625,700 $756,300 $939,900
    COLUMBUS, OH HOCKING 2023 $488,750 $625,700 $756,300 $939,900
    COLUMBUS, OH LICKING 2023 $488,750 $625,700 $756,300 $939,900
    COLUMBUS, OH MADISON 2023 $488,750 $625,700 $756,300 $939,900
    COLUMBUS, OH MORROW 2023 $488,750 $625,700 $756,300 $939,900
    COLUMBUS, OH PERRY 2023 $488,750 $625,700 $756,300 $939,900
    COLUMBUS, OH PICKAWAY 2023 $488,750 $625,700 $756,300 $939,900
    COLUMBUS, OH UNION 2023 $488,750 $625,700 $756,300 $939,900

    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 $254,450 (29.5%) $339,283 (14.0%) 0.94 3,075
    2018-02-01 $276,445 (34.9%) $361,458 (17.4%) 1.01 2,800
    2018-03-01 $280,000 (20.7%) $362,210 (10.1%) 0.98 2,841
    2018-04-01 $292,450 (17.5%) $368,446 (7.8%) 0.99 3,043
    2018-05-01 $299,900 (14.9%) $377,689 (7.7%) 1.00 3,441
    2018-06-01 $299,900 (14.0%) $376,350 (6.5%) 1.00 3,844
    2018-07-01 $299,800 (15.4%) $374,633 (7.9%) 1.00 4,240
    2018-08-01 $284,850 (9.8%) $359,166 (4.5%) 0.95 4,625
    2018-09-01 $274,800 (9.9%) $351,521 (6.1%) 0.92 4,753
    2018-10-01 $266,450 (6.7%) $345,100 (5.9%) 0.90 4,805
    2018-11-01 $261,200 (5.4%) $339,966 (3.9%) 0.89 4,598
    2018-12-01 $254,900 (4.1%) $335,781 (2.3%) 0.88 3,979
    2019-01-01 $254,915 (0.2%) $337,189 (-0.6%) 0.88 3,382
    2019-02-01 $268,950 (-2.7%) $350,324 (-3.1%) 0.91 3,140
    2019-03-01 $293,700 (4.9%) $370,697 (2.3%) 0.98 3,055
    2019-04-01 $301,366 (3.1%) $385,804 (4.7%) 0.96 3,209
    2019-05-01 $309,900 (3.3%) $391,558 (3.7%) 0.97 3,498
    2019-06-01 $324,500 (8.2%) $398,261 (5.8%) 1.01 3,673
    2019-07-01 $320,950 (7.1%) $390,629 (4.3%) 1.00 4,084
    2019-08-01 $319,900 (12.3%) $390,400 (8.7%) 1.00 4,132
    2019-09-01 $312,450 (13.7%) $384,804 (9.5%) 0.99 3,703
    2019-10-01 $279,900 (5.1%) $351,277 (1.8%) 0.90 4,440
    2019-11-01 $275,000 (5.3%) $344,861 (1.4%) 0.90 4,158
    2019-12-01 $274,888 (7.8%) $343,176 (2.2%) 0.92 3,557
    2020-01-01 $277,520 (8.9%) $345,413 (2.4%) 0.93 3,061
    2020-02-01 $294,625 (9.6%) $361,260 (3.1%) 0.96 2,577
    2020-03-01 $299,998 (2.1%) $377,042 (1.7%) 0.94 2,659
    2020-04-01 $309,847 (2.8%) $379,348 (-1.7%) 0.97 2,720
    2020-05-01 $323,900 (4.5%) $392,031 (0.1%) 0.98 2,620
    2020-06-01 $332,400 (2.4%) $406,467 (2.1%) 0.98 2,472
    2020-07-01 $329,700 (2.7%) $413,812 (5.9%) 0.96 2,344
    2020-08-01 $314,900 (-1.6%) $397,302 (1.8%) 0.90 2,309
    2020-09-01 $300,164 (-3.9%) $388,358 (0.9%) 0.86 2,363
    2020-10-01 $304,505 (8.8%) $385,943 (9.9%) 0.87 2,366
    2020-11-01 $307,225 (11.7%) $377,914 (9.6%) 0.90 2,222
    2020-12-01 $307,450 (11.9%) $375,111 (9.3%) 0.91 1,853
    2021-01-01 $299,900 (8.1%) $378,897 (9.7%) 0.90 1,532
    2021-02-01 $304,934 (3.5%) $394,681 (9.3%) 0.89 1,229
    2021-03-01 $314,468 (4.8%) $402,145 (6.7%) 0.89 1,279
    2021-04-01 $310,782 (0.3%) $401,018 (5.7%) 0.84 1,443
    2021-05-01 $314,617 (-2.9%) $397,943 (1.5%) 0.84 1,608
    2021-06-01 $300,000 (-9.8%) $393,966 (-3.1%) 0.79 1,858
    2021-07-01 $308,300 (-6.5%) $384,445 (-7.1%) 0.81 2,228
    2021-08-01 $299,900 (-4.8%) $377,360 (-5.0%) 0.80 2,409
    2021-09-01 $289,850 (-3.4%) $371,116 (-4.4%) 0.77 2,367
    2021-10-01 $291,848 (-4.2%) $376,023 (-2.6%) 0.78 2,296
    2021-11-01 $289,815 (-5.7%) $375,188 (-0.7%) 0.77 1,993
    2021-12-01 $289,900 (-5.7%) $385,878 (2.9%) 0.79 1,602
    2022-01-01 $299,900 (0.0%) $396,740 (4.7%) 0.81 1,345
    2022-02-01 $325,000 (6.6%) $413,348 (4.7%) 0.85 1,169
    2022-03-01 $332,450 (5.7%) $414,119 (3.0%) 0.83 1,264
    2022-04-01 $329,250 (5.9%) $417,113 (4.0%) 0.78 1,432
    2022-05-01 $349,000 (10.9%) $440,876 (10.8%) 0.80 1,725
    2022-06-01 $349,900 (16.6%) $447,306 (13.5%) 0.78 2,060
    2022-07-01 $347,000 (12.6%) $436,361 (13.5%) 0.78 2,565
    2022-08-01 $336,722 (12.3%) $428,328 (13.5%) 0.78 2,664
    2022-09-01 $337,500 (16.4%) $429,912 (15.8%) 0.79 2,613
    2022-10-01 $339,000 (16.2%) $427,507 (13.7%) 0.80 2,794
    2022-11-01 $334,450 (15.4%) $428,265 (14.2%) 0.80 2,734
    2022-12-01 $329,900 (13.8%) $436,748 (13.2%) 0.81 2,247
    2023-01-01 $347,900 (16.0%) $453,421 (14.3%) 0.86 1,899
    2023-02-01 $359,950 (10.8%) $483,562 (17.0%) 0.87 1,623
    2023-03-01 $375,100 (12.8%) $501,269 (21.0%) 0.88 1,604
    2023-04-01 $385,000 (16.9%) $506,243 (21.4%) 0.90 1,723
    Columbus's median listing price for 2023-04-01 was $385,000, a difference of $55,750 (16.9%) versus the prior year and $9,900 versus the prior month.

    Columbus's median listing price comes in at 90% of the national average.

    Columbus's average listing price for 2023-04-01 was $506,243, a difference of $89,130 (21.4%) versus the prior year and $4,974 versus the prior month.

    For the 2023-04-01 period, Columbus had 1,723 MLS listings, a difference of 119 listings (7%) versus the prior month and 291 listings (20%) 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 80 days 1,932 sqft
    2018-02-01 72 days 2,044 sqft
    2018-03-01 42 days 2,052 sqft
    2018-04-01 36 days 2,090 sqft
    2018-05-01 33 days 2,150 sqft
    2018-06-01 33 days 2,151 sqft
    2018-07-01 39 days 2,147 sqft
    2018-08-01 37 days 2,065 sqft
    2018-09-01 44 days 2,016 sqft
    2018-10-01 51 days 1,977 sqft
    2018-11-01 53 days 1,955 sqft
    2018-12-01 64 days 1,904 sqft
    2019-01-01 74 days 1,897 sqft
    2019-02-01 68 days 1,944 sqft
    2019-03-01 45 days 2,047 sqft
    2019-04-01 35 days 2,077 sqft
    2019-05-01 33 days 2,096 sqft
    2019-06-01 36 days 2,133 sqft
    2019-07-01 39 days 2,137 sqft
    2019-08-01 51 days 2,134 sqft
    2019-09-01 57 days 2,101 sqft
    2019-10-01 45 days 1,962 sqft
    2019-11-01 51 days 1,935 sqft
    2019-12-01 66 days 1,907 sqft
    2020-01-01 71 days 1,922 sqft
    2020-02-01 51 days 1,959 sqft
    2020-03-01 38 days 1,998 sqft
    2020-04-01 42 days 1,998 sqft
    2020-05-01 50 days 2,030 sqft
    2020-06-01 40 days 2,053 sqft
    2020-07-01 34 days 2,015 sqft
    2020-08-01 30 days 1,964 sqft
    2020-09-01 29 days 1,869 sqft
    2020-10-01 31 days 1,856 sqft
    2020-11-01 37 days 1,822 sqft
    2020-12-01 45 days 1,789 sqft
    2021-01-01 46 days 1,775 sqft
    2021-02-01 31 days 1,773 sqft
    2021-03-01 21 days 1,799 sqft
    2021-04-01 13 days 1,796 sqft
    2021-05-01 11 days 1,803 sqft
    2021-06-01 13 days 1,766 sqft
    2021-07-01 16 days 1,774 sqft
    2021-08-01 20 days 1,724 sqft
    2021-09-01 24 days 1,674 sqft
    2021-10-01 29 days 1,670 sqft
    2021-11-01 32 days 1,659 sqft
    2021-12-01 41 days 1,627 sqft
    2022-01-01 39 days 1,620 sqft
    2022-02-01 26 days 1,694 sqft
    2022-03-01 16 days 1,713 sqft
    2022-04-01 11 days 1,726 sqft
    2022-05-01 12 days 1,792 sqft
    2022-06-01 16 days 1,807 sqft
    2022-07-01 21 days 1,800 sqft
    2022-08-01 28 days 1,784 sqft
    2022-09-01 31 days 1,790 sqft
    2022-10-01 31 days 1,796 sqft
    2022-11-01 37 days 1,774 sqft
    2022-12-01 51 days 1,748 sqft
    2023-01-01 58 days 1,785 sqft
    2023-02-01 42 days 1,812 sqft
    2023-03-01 32 days 1,837 sqft
    2023-04-01 24 days 1,880 sqft
    Columbus's median listing age (time on market) for 2023-04-01 was 24 days. This is 118% longer than the same period one year ago.

    Columbus's median square footage for active listings during the 2023-04-01 period was 1,880 sqft. One year prior, the average listing was 1,726 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).