Crawfordsville FHA Loan Rates, Closing Costs & Stats

Crawfordsville, IN

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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.

    Crawfordsville's 46 lenders originated 138 FHA loans during 2023. The total origination value was $22,910,000, with an average FHA loan value of $166,014.

    Crawfordsville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Crawfordsville averaged 6.8% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Crawfordsville's average FHA mortgage closing costs are $5,650.

    The average rate for the prior week (2024-11-01) was 6.87% and one month ago for the week of 2024-10-04, the average rate was 5.99%.

    The average rate one year ago was 7.54%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.53%.

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

    Crawfordsville 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 Crawfordsville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 16 6.36% $7,446
    Wolfe Financial, Inc 13 7.17% $7,596
    University Bank 11 7.03% $7,226
    RUOFF MORTGAGE COMPANY, INC. 8 6.75% $6,204
    GVC MORTGAGE, INC. 6 7.19% $6,920
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 7.25% $6,210
    PNC Bank 5 6.63% $6,008
    NEWREZ LLC 4 6.78% $8,622
    First Option Mortgage, LLC 4 7.00% $7,538
    GENEVA FINANCIAL, LLC 3 6.54% $6,845
    CALIBER HOME LOANS, INC. 3 6.67% $8,070
    PENNYMAC LOAN SERVICES, LLC 3 5.79% $10,571
    Carrington Mortgage Services, LLC 3 6.13% $9,528
    MUTUAL OF OMAHA MORTGAGE, INC. 3 7.17% $12,293
    BROKER SOLUTIONS, INC. 3 6.58% $10,936
    HALLMARK HOME MORTGAGE, LLC 2 6.38% $7,700
    GUILD MORTGAGE COMPANY 2 6.88% $5,937
    Mr. Cooper ( Nationstar Mortgage ) 2 5.81% $10,760
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 7.31% $8,714
    LOANDEPOT.COM, LLC 2 6.12% $9,125
    MJW Financial LLC 2 6.44% $10,891
    WesBanco 2 6.81% $6,120
    UNITED WHOLESALE MORTGAGE, LLC 1 8.25% $3,748
    VILLAGE CAPITAL MORTGAGE 1 6.75% $2,240
    ON Q FINANCIAL, INC. 1 7.25% $10,513
    AMERISAVE MORTGAGE CORPORATION 1 5.25% $11,427
    Centier Bank 1 7.00% $4,200
    CHURCHILL MORTGAGE CORPORATION 1 7.13% $6,555
    Colonial Savings, F.A. 1 7.25% $14,863
    EMBRACE HOME LOANS, INC. 1 5.63% $12,870
    Equity Prime Mortgage LLC 1 7.63% $8,644
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.75% $6,854
    Fifth Third Bank 1 6.50% $5,741
    FREEDOM MORTGAGE CORPORATION 1 6.75% $7,825
    MILESTONE HOME LENDING, LLC 1 5.75% $10,769
    MOVEMENT MORTGAGE, LLC 1 7.13% $11,572
    Old National Bank 1 7.50% $3,629
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $10,909
    PANORAMA MORTGAGE GROUP, LLC 1 7.25% $8,453
    PENTAGON FEDERAL CREDIT UNION 1 6.00% $5,490
    Plains Commerce Bank 1 6.99% $5,184
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $11,450
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $6,746
    Prosperity Home Mortgage, LLC 1 6.88% $4,471
    Regions Bank 1 6.25% $5,172
    ROYAL UNITED MORTGAGE LLC 1 6.25% $10,787

    The top Crawfordsville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 16 FHA loans originated. Their average total fees are $7,446, which is $150 lower than the next largest lender, Wolfe Financial, Inc.

    The lowest fee Crawfordsville FHA lenders (with over 10 loans originated) are University Bank ($7,226), QUICKEN LOANS, LLC ($7,446), Wolfe Financial, Inc ($7,596), .

    The lowest rate Crawfordsville FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.36%), University Bank (7.03%), Wolfe Financial, Inc (7.17%), .

    Crawfordsville FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CRAWFORDSVILLE, IN MONTGOMERY 2022 $420,680 $538,650 $651,050 $809,150
    CRAWFORDSVILLE, IN MONTGOMERY 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Crawfordsville (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 $129,450 (29.5%) $196,553 (24.6%) 0.00 131
    2018-02-01 $137,500 (24.8%) $202,578 (22.7%) 0.00 134
    2018-03-01 $138,400 (33.1%) $198,255 (20.3%) 0.00 130
    2018-04-01 $128,800 (7.4%) $194,327 (10.7%) 0.00 128
    2018-05-01 $138,650 (15.6%) $190,772 (3.9%) 0.00 135
    2018-06-01 $144,700 (19.4%) $192,903 (6.2%) 0.00 145
    2018-07-01 $149,900 (5.2%) $204,041 (-3.0%) 0.00 151
    2018-08-01 $147,200 (1.3%) $203,027 (-3.0%) 0.00 156
    2018-09-01 $139,900 (-5.8%) $205,696 (-1.1%) 0.00 149
    2018-10-01 $134,800 (-5.9%) $188,352 (-11.1%) 0.00 163
    2018-11-01 $129,800 (-6.7%) $194,311 (-8.0%) 0.00 154
    2018-12-01 $142,900 (10.0%) $196,115 (-2.8%) 0.00 136
    2019-01-01 $123,700 (-4.4%) $190,877 (-2.9%) 0.00 125
    2019-02-01 $112,750 (-18.0%) $143,612 (-29.1%) 0.00 99
    2019-03-01 $125,671 (-9.2%) $159,470 (-19.6%) 0.00 95
    2019-04-01 $140,950 (9.4%) $165,601 (-14.8%) 0.00 87
    2019-05-01 $141,950 (2.4%) $167,150 (-12.4%) 0.00 87
    2019-06-01 $135,000 (-6.7%) $163,926 (-15.0%) 0.00 93
    2019-07-01 $149,900 (0.0%) $171,118 (-16.1%) 0.00 115
    2019-08-01 $143,050 (-2.8%) $169,023 (-16.8%) 0.00 105
    2019-09-01 $137,200 (-1.9%) $166,992 (-18.8%) 0.00 114
    2019-10-01 $134,425 (-0.3%) $165,111 (-12.3%) 0.00 121
    2019-11-01 $143,700 (10.7%) $166,439 (-14.3%) 0.00 113
    2019-12-01 $141,200 (-1.2%) $167,512 (-14.6%) 0.00 105
    2020-01-01 $142,600 (15.3%) $179,705 (-5.9%) 0.00 102
    2020-02-01 $141,200 (25.2%) $179,627 (25.1%) 0.00 94
    2020-03-01 $143,000 (13.8%) $188,040 (17.9%) 0.00 82
    2020-04-01 $148,350 (5.3%) $193,730 (17.0%) 0.00 74
    2020-05-01 $159,900 (12.7%) $209,898 (25.6%) 0.00 59
    2020-06-01 $159,575 (18.2%) $217,135 (32.5%) 0.00 49
    2020-07-01 $178,800 (19.3%) $220,574 (28.9%) 0.00 50
    2020-08-01 $172,400 (20.5%) $205,386 (21.5%) 0.00 51
    2020-09-01 $162,350 (18.3%) $194,513 (16.5%) 0.00 48
    2020-10-01 $139,900 (4.1%) $191,715 (16.1%) 0.00 47
    2020-11-01 $156,225 (8.7%) $189,126 (13.6%) 0.00 45
    2020-12-01 $169,750 (20.2%) $187,799 (12.1%) 0.00 37
    2021-01-01 $169,500 (18.9%) $173,056 (-3.7%) 0.00 30
    2021-02-01 $168,563 (19.4%) $195,547 (8.9%) 0.00 23
    2021-03-01 $159,900 (11.8%) $195,364 (3.9%) 0.00 23
    2021-04-01 $197,075 (32.8%) $223,678 (15.5%) 0.00 23
    2021-05-01 $190,000 (18.8%) $223,499 (6.5%) 0.00 31
    2021-06-01 $180,675 (13.2%) $220,111 (1.4%) 0.00 35
    2021-07-01 $205,000 (14.7%) $210,497 (-4.6%) 0.00 47
    2021-08-01 $171,700 (-0.4%) $197,603 (-3.8%) 0.00 50
    2021-09-01 $189,000 (16.4%) $211,739 (8.9%) 0.00 52
    2021-10-01 $189,900 (35.7%) $219,058 (14.3%) 0.00 45
    2021-11-01 $183,375 (17.4%) $230,826 (22.1%) 0.00 49
    2021-12-01 $192,000 (13.1%) $230,292 (22.6%) 0.00 53
    2022-01-01 $163,950 (-3.3%) $222,516 (28.6%) 0.00 36
    2022-02-01 $172,450 (2.3%) $218,184 (11.6%) 0.00 26
    2022-03-01 $167,225 (4.6%) $236,697 (21.2%) 0.00 24
    2022-04-01 $159,950 (-18.8%) $222,948 (-0.3%) 0.00 29
    2022-05-01 $204,550 (7.7%) $258,361 (15.6%) 0.00 40
    2022-06-01 $194,950 (7.9%) $246,468 (12.0%) 0.00 50
    2022-07-01 $209,900 (2.4%) $241,417 (14.7%) 0.00 63
    2022-08-01 $199,450 (16.2%) $234,257 (18.6%) 0.00 59
    2022-09-01 $183,675 (-2.8%) $226,932 (7.2%) 0.00 52
    2022-10-01 $202,500 (6.6%) $228,713 (4.4%) 0.00 63
    2022-11-01 $198,350 (8.2%) $243,008 (5.3%) 0.00 73
    2022-12-01 $200,000 (4.2%) $253,471 (10.1%) 0.00 73
    2023-01-01 $196,125 (19.6%) $247,629 (11.3%) 0.00 69
    2023-02-01 $187,475 (8.7%) $238,439 (9.3%) 0.00 54
    2023-03-01 $188,100 (12.5%) $225,236 (-4.8%) 0.00 53
    2023-04-01 $194,950 (21.9%) $244,122 (9.5%) 0.00 39
    2023-05-01 $189,725 (-7.3%) $244,085 (-5.5%) 0.00 44
    2023-06-01 $231,950 (19.0%) $264,117 (7.2%) 0.00 50
    2023-07-01 $270,000 (28.6%) $301,289 (24.8%) 0.00 43
    2023-08-01 $268,450 (34.6%) $292,465 (24.9%) 0.00 48
    2023-09-01 $269,900 (46.9%) $289,848 (27.7%) 0.00 58
    2023-10-01 $244,950 (21.0%) $273,589 (19.6%) 0.00 79
    2023-11-01 $240,950 (21.5%) $273,554 (12.6%) 0.00 79
    2023-12-01 $242,450 (21.2%) $277,997 (9.7%) 0.00 77
    2024-01-01 $256,000 (30.5%) $287,746 (16.2%) 0.00 60
    2024-02-01 $257,475 (37.3%) $288,508 (21.0%) 0.00 55
    2024-03-01 $284,950 (51.5%) $312,735 (38.9%) 0.00 47
    2024-04-01 $255,425 (31.0%) $294,898 (20.8%) 0.00 45
    2024-05-01 $244,925 (29.1%) $295,485 (21.1%) 0.00 52
    2024-06-01 $255,000 (9.9%) $298,627 (13.1%) 0.00 60
    2024-07-01 $249,900 (-7.4%) $294,472 (-2.3%) 0.00 63
    2024-08-01 $244,000 (-9.1%) $276,984 (-5.3%) 0.00 72
    2024-09-01 $239,950 (-11.1%) $264,537 (-8.7%) 0.00 86
    2024-10-01 $231,700 (-5.4%) $261,099 (-4.6%) 0.00 85
    Crawfordsville's median listing price for 2024-10-01 was $231,700, a difference of $-13,250 (-5.4%) versus the prior year and $-8,250 versus the prior month.

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

    Crawfordsville's average listing price for 2024-10-01 was $261,099, a difference of $-12,490 (-4.6%) versus the prior year and $-3,438 versus the prior month.

    For the 2024-10-01 period, Crawfordsville had 85 MLS listings, a difference of -1 listings (-1%) versus the prior month and 6 listings (8%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Crawfordsville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,995 sqft
    2018-02-01 0 days 2,000 sqft
    2018-03-01 0 days 1,996 sqft
    2018-04-01 0 days 1,986 sqft
    2018-05-01 0 days 1,992 sqft
    2018-06-01 0 days 2,058 sqft
    2018-07-01 0 days 2,111 sqft
    2018-08-01 0 days 2,062 sqft
    2018-09-01 0 days 2,216 sqft
    2018-10-01 0 days 2,234 sqft
    2018-11-01 0 days 2,216 sqft
    2018-12-01 0 days 2,194 sqft
    2019-01-01 0 days 2,019 sqft
    2019-02-01 0 days 1,980 sqft
    2019-03-01 0 days 2,003 sqft
    2019-04-01 0 days 2,053 sqft
    2019-05-01 0 days 2,131 sqft
    2019-06-01 0 days 2,128 sqft
    2019-07-01 0 days 2,080 sqft
    2019-08-01 0 days 2,046 sqft
    2019-09-01 0 days 1,996 sqft
    2019-10-01 0 days 2,029 sqft
    2019-11-01 0 days 2,018 sqft
    2019-12-01 0 days 1,971 sqft
    2020-01-01 0 days 1,844 sqft
    2020-02-01 0 days 1,885 sqft
    2020-03-01 0 days 1,843 sqft
    2020-04-01 0 days 1,988 sqft
    2020-05-01 0 days 2,016 sqft
    2020-06-01 0 days 2,014 sqft
    2020-07-01 0 days 2,066 sqft
    2020-08-01 0 days 2,088 sqft
    2020-09-01 0 days 2,204 sqft
    2020-10-01 0 days 2,081 sqft
    2020-11-01 0 days 2,388 sqft
    2020-12-01 0 days 2,088 sqft
    2021-01-01 0 days 1,987 sqft
    2021-02-01 0 days 1,928 sqft
    2021-03-01 0 days 1,894 sqft
    2021-04-01 0 days 2,170 sqft
    2021-05-01 0 days 2,066 sqft
    2021-06-01 0 days 2,014 sqft
    2021-07-01 0 days 2,052 sqft
    2021-08-01 0 days 2,014 sqft
    2021-09-01 0 days 2,103 sqft
    2021-10-01 0 days 1,983 sqft
    2021-11-01 0 days 2,139 sqft
    2021-12-01 0 days 2,074 sqft
    2022-01-01 0 days 1,849 sqft
    2022-02-01 0 days 1,865 sqft
    2022-03-01 0 days 1,753 sqft
    2022-04-01 0 days 1,855 sqft
    2022-05-01 0 days 1,936 sqft
    2022-06-01 0 days 2,030 sqft
    2022-07-01 0 days 2,009 sqft
    2022-08-01 0 days 2,068 sqft
    2022-09-01 0 days 1,892 sqft
    2022-10-01 0 days 1,960 sqft
    2022-11-01 0 days 1,879 sqft
    2022-12-01 0 days 1,898 sqft
    2023-01-01 0 days 1,814 sqft
    2023-02-01 0 days 1,763 sqft
    2023-03-01 0 days 1,683 sqft
    2023-04-01 0 days 2,127 sqft
    2023-05-01 0 days 1,812 sqft
    2023-06-01 0 days 2,028 sqft
    2023-07-01 0 days 2,260 sqft
    2023-08-01 0 days 2,172 sqft
    2023-09-01 0 days 2,283 sqft
    2023-10-01 0 days 2,299 sqft
    2023-11-01 0 days 2,241 sqft
    2023-12-01 0 days 2,196 sqft
    2024-01-01 0 days 2,192 sqft
    2024-02-01 0 days 2,409 sqft
    2024-03-01 0 days 2,520 sqft
    2024-04-01 0 days 2,456 sqft
    2024-05-01 0 days 2,055 sqft
    2024-06-01 0 days 2,101 sqft
    2024-07-01 0 days 2,227 sqft
    2024-08-01 0 days 2,111 sqft
    2024-09-01 0 days 2,049 sqft
    2024-10-01 0 days 2,134 sqft
    Crawfordsville's median listing age (time on market) for 2024-10-01 was 0 days.

    Crawfordsville's median square footage for active listings during the 2024-10-01 period was 2,134 sqft. One year prior, the average listing was 2,299 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).