Columbus FHA Loans

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 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).