Crawfordsville FHA Loan Rates, Closing Costs & Stats

Crawfordsville, IN

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 0.47% for the week of 2024-11-29, compared to the national average (all FHA variants) of 0% for the same period.

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

The average rate for the prior week (2024-11-22) was 6.56% and one month ago for the week of 2024-10-25, the average rate was 6.54%.

The average rate one year ago was 7.13%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.1%.

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).