Columbus FHA Loans

COLUMBUS, OH

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 203 lenders originated 8,828 FHA loans during 2021. The total origination value was $1,828,140,000, with an average FHA loan value of $207,084.

Columbus FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Columbus averaged 5.29% 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 5.1% and one month ago for the week of 2022-04-15, the average rate was 4.99%.

The average rate one year ago was 3.36%.

For refis of the same type during the week of 2022-05-20, the average rate was 4.9%.

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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Columbus level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 844 2.75% $6,757
CALIBER HOME LOANS, INC. 321 2.83% $6,616
UNION HOME MORTGAGE CORP. 267 3.12% $7,947
FREEDOM MORTGAGE CORPORATION 261 2.84% $4,832
The Huntington National Bank 253 3.15% $7,310
T2 FINANCIAL LLC 252 3.49% $8,533
LENDUS, LLC 224 3.43% $8,185
LAKEVIEW LOAN SERVICING, LLC 209 3.06% $4,833
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 206 3.43% $8,247
Mr. Cooper ( Nationstar Mortgage ) 206 3.32% $3,960
CROSSCOUNTRY MORTGAGE, LLC 199 3.13% $8,391
PENNYMAC LOAN SERVICES, LLC 194 3.15% $4,760
DHI MORTGAGE COMPANY, LTD. 187 2.69% $8,708
RUOFF MORTGAGE COMPANY, INC. 158 3.28% $6,445
NFM, INC. 154 3.36% $8,945
RAPID MORTGAGE COMPANY 134 3.40% $8,560
J. VIRGIL, INC. 113 3.24% $7,928
AMERICAN MORTGAGE SERVICE COMPANY 110 2.99% $8,091
EQUITY RESOURCES, INC. 106 3.07% $6,548
HOMESIDE FINANCIAL, LLC 106 3.21% $7,781
Carrington Mortgage Services, LLC 98 3.45% $8,098
UNITED WHOLESALE MORTGAGE, LLC 89 2.73% $7,020
VILLAGE CAPITAL & INVESTMENT LLC 77 2.94% $2,453
NEWREZ LLC 71 3.06% $5,058
GUARANTEED RATE, INC. 71 3.10% $7,841
NVR Mortgage Finance, Inc. 70 3.06% $10,640
Union Savings Bank 65 2.81% $6,443
HOMEBRIDGE FINANCIAL SERVICES, INC. 65 2.83% $6,442
PRIORITY MORTGAGE CORP. 64 3.07% $7,493
FBC MORTGAGE, LLC 64 3.08% $9,586
Hometown Lenders, Inc. 62 3.61% $8,917
DAS Acquisition Company, LLC 61 3.56% $7,950
THE EQUITABLE MORTGAGE CORPORATION 60 2.70% $7,337
HOME POINT FINANCIAL CORPORATION 55 2.72% $5,711
LOANDEPOT.COM, LLC 55 3.20% $7,838
PULTE MORTGAGE LLC 53 3.02% $7,000
GUILD MORTGAGE COMPANY 50 3.33% $8,690
VICTORY MORTGAGE, L.L.C. 47 2.63% $7,112
Paramount Residential Mortgage Group, Inc. 47 3.38% $8,023
PRIMARY RESIDENTIAL MORTGAGE, INC. 46 3.16% $7,887
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 43 2.87% $7,499
AMERISAVE MORTGAGE CORPORATION 43 3.05% $7,822
Lakeview Community Capital, LLC 41 3.04% $4,598
First Guaranty Mortgage Corporation 40 3.05% $6,020
Nations Lending Corporation 39 3.27% $9,177
POLARIS HOME FUNDING CORP. 39 3.39% $8,067
BROKER SOLUTIONS, INC. 38 2.93% $7,597
M/I FINANCIAL, LLC 37 2.87% $10,767
AmeriHome Mortgage Company, LLC 36 2.96% $4,272
Flagstar Bank, FSB 35 2.85% $6,856
HALLMARK HOME MORTGAGE, LLC 29 3.37% $7,950
Fifth Third Bank 29 3.00% $6,522
The Union Bank Company 29 2.95% $7,240
East Coast Capital Corp. 29 2.89% $8,897
AMERICAN FINANCIAL NETWORK, INC. 28 3.15% $11,731
Bank of England 27 3.41% $10,207
GUARANTEED RATE AFFINITY, LLC 25 3.00% $7,076
NATIONS DIRECT MORTGAGE, LLC 25 3.48% $8,578
JPMorgan Chase Bank 25 2.91% $5,049
PLANET HOME LENDING, LLC 25 2.76% $4,668
The State Bank and Trust Company 25 3.21% $7,753
RELIANCE FIRST CAPITAL, LLC 24 3.01% $9,670
Citizens Bank 24 2.72% $6,681
AmRes Corporation 23 3.31% $9,179
MYCUMORTGAGE, LLC 21 2.93% $5,509
Evolve Bank & Trust 21 3.17% $8,709
WRIGHT-PATT CREDIT UNION, INC. 21 2.90% $6,798
PARTNERS UNITED FINANCIAL, LLC 21 3.13% $8,577
UNITED MORTGAGE CORP. 20 3.12% $8,780
U.S. Bank 20 3.12% $6,936
Gateway First Bank 20 3.53% $6,816
NTFN, INC. 20 3.29% $7,754
LAND HOME FINANCIAL SERVICES, INC. 20 3.58% $7,507
InterContinental Capital Group, Inc 19 2.66% $7,455
ENVOY MORTGAGE, LTD 19 3.65% $8,308
AMERICAN FINANCING CORPORATION 18 2.75% $8,405
DEVELOPER'S MORTGAGE COMPANY 18 2.51% $7,157
LIBERTY HOME MORTGAGE CORPORATION 18 3.42% $7,679
PNC Bank 17 2.90% $5,668
First Financial Bank 17 3.04% $8,222
Magnolia Bank 16 3.55% $8,633
SUN WEST MORTGAGE COMPANY, INC. 16 2.85% $6,237
MUTUAL OF OMAHA MORTGAGE, INC. 16 3.19% $8,006
KELLER MORTGAGE, LLC 15 2.94% $7,155
The Federal Savings Bank 15 2.95% $8,885
US MORTGAGE CORPORATION 15 3.89% $8,906
OCEANSIDE MORTGAGE COMPANY 15 2.99% $2,538
PRIMELENDING, A PLAINSCAPITAL COMPANY 14 3.28% $7,741
MOVEMENT MORTGAGE, LLC 13 3.38% $7,284
BAYSHORE MORTGAGE FUNDING, LLC 13 3.31% $8,752
MORIA DEVELOPMENT, INC. 12 3.68% $9,329
PLAZA HOME MORTGAGE, INC. 12 2.96% $9,841
TOP FLITE FINANCIAL, INC. 11 3.42% $12,665
AMERICAN FINANCIAL RESOURCES, INC. 11 3.56% $8,136
FIRST COMMUNITY MORTGAGE, INC. 11 3.45% $9,145
SECURITYNATIONAL MORTGAGE COMPANY 10 3.48% $7,130
Civista Bank 10 2.66% $6,811
Northpointe Bank 10 3.05% $7,491
Manufacturers and Traders Trust Company 10 3.21% $8,407
EVERETT FINANCIAL, INC. 9 3.17% $6,315
GENEVA FINANCIAL, LLC 9 3.49% $9,074
PHH Mortgage Corporation 9 3.53% $5,118
HOMESPIRE MORTGAGE CORPORATION 8 3.53% $8,814
Mortgage Research Center, LLC 8 3.08% $7,148
Barrington Bank & Trust Company, N.A. 7 3.27% $7,551
Equity Prime Mortgage LLC 7 3.34% $6,751
MID AMERICA MORTGAGE, INC. 7 3.21% $6,028
GSF Mortgage Corporation 6 3.23% $8,366
ARC HOME LLC 6 2.89% $6,315
CHURCHILL MORTGAGE CORPORATION 5 2.98% $7,499
The Park National Bank 5 3.38% $6,648
MICHIGAN MUTUAL, INC. 5 3.18% $7,218
First Commonwealth Bank 5 2.90% $6,296
FINANCE OF AMERICA MORTGAGE LLC 5 3.05% $7,048
ZILLOW HOME LOANS, LLC 4 3.03% $7,540
EUSTIS AND AMERICAN MORTGAGE COMPANY 4 3.22% $7,248
First Home Bank 4 2.88% $11,405
LOANPAL, LLC 4 3.25% $7,928
NATIONS RELIABLE LENDING, LLC 4 4.00% $6,829
SIWELL, INC. 4 3.31% $5,959
VANDERBILT MORTGAGE AND FINANCE, INC. 4 3.34% $10,899
AMERIFIRST FINANCIAL CORPORATION 3 3.75% $8,782
Residential Mortgage Solutions, Inc. 3 3.08% $11,417
AMERICAN PACIFIC MORTGAGE CORPORATION 3 3.63% $10,258
North American Savings Bank, F.S.B. 3 2.71% $6,530
First Savings Bank 3 3.17% $14,813
First Federal Savings and Loan Association of Lakewood 3 2.58% $6,909
PACIFIC RESIDENTIAL MORTGAGE, LLC 3 3.75% $8,437
United Fidelity Funding Corp. 3 2.88% $8,757
Ixonia Bank 3 3.04% $8,039
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 3.00% $5,690
KeyBank 3 2.83% $6,802
CMG MORTGAGE, INC. 3 2.88% $10,993
MIDLAND MORTGAGE CORPORATION 3 3.50% $8,191
Sierra Pacific Mortgage Company, Inc. 2 3.25% $7,433
MLD MORTGAGE INC. 2 3.00% $8,631
1st National Bank 2 2.63% $8,011
UNITED SECURITY FINANCIAL CORP 2 3.06% $6,141
JLB CORPORATION 2 3.13% $8,370
Plains Commerce Bank 2 2.88% $9,722
GUARANTY HOME MORTGAGE CORPORATION 2 3.56% $6,974
DIRECT MORTGAGE LOANS, LLC 2 3.63% $13,648
ROYAL UNITED MORTGAGE LLC 2 3.31% $8,547
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 3.50% $11,942
Independent Bank 2 3.13% $8,495
WesBanco Bank, Inc. 2 2.50% $6,679
First Merchants Bank 2 3.44% $5,551
THRIVE MORTGAGE, LLC 2 3.69% $6,069
VERITAS FUNDING, LLC 2 2.62% $9,625
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 2.75% $7,264
First Federal Bank 2 2.94% $11,979
YOUR HOME FINANCIAL LLC 1 3.75% $10,133
SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.25% $9,248
Stifel Bank and Trust 1 3.00% $5,118
STOCKTON MORTGAGE CORPORATION 1 2.25% $9,522
Strong Home Mortgage, LLC 1 2.50% $7,276
SUCCESS MORTGAGE PARTNERS, INC. 1 3.50% $6,706
SUMMIT FUNDING, INC. 1 3.75% $6,057
Texana Bank 1 2.75% $7,707
George Mason Mortgage, LLC 1 2.63% $10,415
The Home Loan Expert LLC 1 3.00% $7,989
Commerce Home Mortgage, Inc. 1 3.50% $5,630
TOWNE MORTGAGE COMPANY 1 4.25% $9,307
Congressional Bank 1 4.75% $6,077
CONTOUR MORTGAGE CORPORATION 1 2.63% $12,397
CRESCENT MORTGAGE COMPANY 1 3.63% $8,432
ENDEAVOR CAPITAL, LLC. 1 2.75% $6,496
EMM LOANS LLC 1 4.13% $4,338
VAN DYK MORTGAGE CORPORATION 1 3.63% $5,503
AMCAP MORTGAGE, LTD. 1 3.00% $7,079
AHL FUNDING 1 3.25% $8,424
Waterstone Mortgage Corporation 1 3.00% $11,081
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $9,649
Goldwater Bank, N.A. 1 3.38% $10,770
EMBRACE HOME LOANS, INC. 1 3.25% $8,255
NATIONWIDE MORTGAGE BANKERS, INC. 1 4.25% $9,580
NBKC BANK 1 3.75% $7,368
NEW DAY FINANCIAL, LLC 1 2.88% $8,588
BNC National Bank 1 2.75% $6,736
NEXERA HOLDING LLC 1 2.88% $8,521
BETTER MORTGAGE CORPORATION 1 3.25% $6,648
CANOPY MORTGAGE, LLC 1 2.99% $5,753
Northwest Bank 1 2.75% $10,310
NP, Inc. 1 3.25% $7,518
BELEM SERVICING LLC 1 2.75% $10,508
LEADERONE FINANCIAL CORPORATION 1 3.13% $6,921
OCMBC, INC. 1 3.25% $7,535
Cf Bank 1 2.25% $14,912
JMAC LENDING, INC. 1 2.88% $9,661
Peoples Bank 1 4.13% $8,206
Peoples Bank 1 3.13% $5,464
INTERCOASTAL MORTGAGE COMPANY 1 3.00% $10,942
INLANTA MORTGAGE, INC. 1 3.25% $10,396
Citibank 1 3.50% $2,902
Hometown Equity Mortgage, LLC 1 3.13% $12,279
Princeton Mortgage Corporation 1 2.63% $5,729
Austin Capital Bank SSB 1 3.50% $7,782
Prosperity Home Mortgage, LLC 1 3.00% $6,608
CityWorth Mortgage LLC 1 2.75% $8,782
RiverHills Bank 1 2.63% $8,200
Colonial Savings, F.A. 1 2.75% $5,488
Low VA Rates, LLC 1 3.63% $4,685
SIGNATURE MORTGAGE CORPORATION 1 3.25% $6,566

The top Columbus FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 844 FHA loans originated. Their average total fees are $6,757, which is $141 higher than the next largest lender, CALIBER HOME LOANS, INC..

The lowest fee Columbus FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,453), OCEANSIDE MORTGAGE COMPANY ($2,538), Mr. Cooper ( Nationstar Mortgage ) ($3,960), AmeriHome Mortgage Company, LLC ($4,272) and Lakeview Community Capital, LLC ($4,598).

The lowest rate Columbus FHA lenders (with over 10 loans originated) are DEVELOPER'S MORTGAGE COMPANY (2.51%), VICTORY MORTGAGE, L.L.C. (2.63%), InterContinental Capital Group, Inc (2.66%), Civista Bank (2.66%) and DHI MORTGAGE COMPANY, LTD. (2.69%).

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

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).