Crestview FHA Loan Rates, Closing Costs & Stats

CRESTVIEW-FORT WALTON BEACH-DESTIN, FL

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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.

    Crestview's 124 lenders originated 805 FHA loans during 2023. The total origination value was $284,555,000, with an average FHA loan value of $353,484.

    Crestview FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Crestview averaged 6.33% for the week of 2024-07-19, compared to the national average (all FHA variants) of 6.59% for the same period.

    Crestview's average FHA mortgage closing costs are $8,480.

    The average rate for the prior week (2024-07-12) was 6.19% and one month ago for the week of 2024-06-14, the average rate was 6.64%.

    The average rate one year ago was 6.73%.

    For refis of the same type during the week of 2024-07-19, the average rate was 6.99%.

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

    Crestview 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 Crestview level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    BROKER SOLUTIONS, INC. 109 6.45% $10,816
    UNITED WHOLESALE MORTGAGE, LLC 78 6.33% $12,693
    DHI MORTGAGE COMPANY, LTD. 55 5.38% $9,508
    QUICKEN LOANS, LLC 53 6.15% $11,966
    MOVEMENT MORTGAGE, LLC 39 6.59% $13,204
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 28 6.64% $10,717
    Waterstone Mortgage Corporation 24 6.55% $12,797
    PRIMELENDING, A PLAINSCAPITAL COMPANY 16 6.78% $13,556
    Bank of England 13 6.39% $15,283
    SUCCESS MORTGAGE PARTNERS, INC. 13 6.54% $14,998
    EAGLE HOME MORTGAGE, LLC 11 5.29% $10,365
    INSPIRE HOME LOANS INC. 11 5.89% $9,111
    NEWREZ LLC 10 6.71% $10,293
    CARDINAL FINANCIAL 10 6.06% $13,257
    PENNYMAC LOAN SERVICES, LLC 9 5.90% $14,300
    LOANDEPOT.COM, LLC 9 6.26% $10,536
    University Bank 9 6.85% $10,289
    Mr. Cooper ( Nationstar Mortgage ) 7 5.84% $16,564
    GUARANTEED RATE AFFINITY, LLC 7 6.73% $13,030
    Equity Prime Mortgage LLC 7 6.86% $10,731
    BancorpSouth 6 6.40% $8,651
    Regions Bank 6 6.60% $12,130
    FBC MORTGAGE, LLC 6 5.53% $8,994
    FREEDOM MORTGAGE CORPORATION 6 6.67% $13,628
    MORTGAGE SOLUTIONS OF COLORADO, LLC 6 7.23% $14,274
    CROSSCOUNTRY MORTGAGE, LLC 6 6.69% $13,392
    GUARANTEED RATE, INC. 6 6.28% $11,345
    AMERICAN FINANCIAL RESOURCES, INC. 5 6.68% $9,962
    Centennial Bank 5 6.35% $11,064
    NFM, INC. 5 6.78% $13,890
    Nations Lending Corporation 4 7.31% $7,173
    FIDELITY BANK 4 6.53% $8,993
    United Fidelity Funding Corp. 4 5.97% $17,860
    DSLD MORTGAGE, LLC 4 5.87% $9,301
    First Federal Bank 4 6.38% $7,020
    AMERISAVE MORTGAGE CORPORATION 4 6.72% $13,103
    Renasant Bank 4 5.90% $12,734
    THRIVE MORTGAGE, LLC 3 6.63% $9,185
    TOP FLITE FINANCIAL, INC. 3 7.04% $18,428
    GSF Mortgage Corporation 3 6.50% $10,009
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.00% $17,947
    GUILD MORTGAGE COMPANY 3 6.58% $8,383
    Wells Fargo Bank 2 6.88% $9,849
    AMERICAN FINANCING CORPORATION 2 6.94% $15,854
    Ameris Bank 2 7.19% $8,191
    BankPlus 2 5.81% $8,071
    Carrington Mortgage Services, LLC 2 6.63% $9,611
    Encompass Lending Group, LP 2 7.12% $11,999
    Flagstar Bank, FSB 2 7.00% $13,294
    HOMESTAR FINANCIAL CORPORATION 2 6.69% $11,514
    LOANPAL, LLC 2 5.38% $14,350
    MORIA DEVELOPMENT, INC. 2 7.44% $10,473
    NATIONS DIRECT MORTGAGE, LLC 2 6.75% $11,145
    NBKC BANK 2 5.25% $13,246
    Northpointe Bank 2 6.81% $12,354
    OCMBC, INC. 2 6.75% $13,959
    OPEN MORTGAGE, LLC 2 5.75% $11,425
    Paramount Residential Mortgage Group, Inc. 2 6.13% $15,231
    PENTAGON FEDERAL CREDIT UNION 2 5.88% $8,795
    Plains Commerce Bank 2 6.75% $9,825
    PLANET HOME LENDING, LLC 2 6.19% $10,822
    RUOFF MORTGAGE COMPANY, INC. 2 6.38% $11,218
    South State Bank 2 6.06% $11,627
    The Federal Savings Bank 2 6.25% $16,235
    Trustmark National Bank 2 6.63% $10,272
    UNION HOME MORTGAGE CORP. 2 5.63% $20,453
    MID AMERICA MORTGAGE, INC. 1 7.13% $9,008
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.75% $18,712
    MORTGAGE ONE OF THE SOUTH, INC. 1 6.50% $6,617
    Mortgage Research Center, LLC 1 7.63% $14,818
    Community Bank of Mississippi 1 7.00% $16,383
    CMG MORTGAGE, INC. 1 6.75% $9,085
    Citizens Bank 1 6.88% $7,103
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $17,426
    TJC Mortgage, Inc. 1 6.50% $15,321
    CIS Financial Services, Inc. 1 6.00% $13,943
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.50% $12,882
    CHURCHILL MORTGAGE CORPORATION 1 8.25% $13,198
    CERTAINTY HOME LOANS, LLC 1 5.00% $18,065
    TOTAL MORTGAGE SERVICES, LLC 1 5.63% $16,480
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 7.13% $6,715
    Truist 1 6.60% $11,233
    ACADEMY MORTGAGE CORPORATION 1 6.63% $9,036
    PANORAMA MORTGAGE GROUP, LLC 1 6.75% $23,804
    1ST SIGNATURE LENDING, LLC 1 6.75% $16,059
    Century Mortgage Company DBA Century Lending Company 1 5.38% $23,590
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.88% $7,192
    American Mortgage & Equity Consultants, Inc. 1 4.75% $10,010
    AMERICAN FINANCIAL NETWORK, INC. 1 7.50% $16,792
    PNC Bank 1 6.25% $8,627
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.13% $12,059
    Presidential Bank, FSB 1 7.13% $16,282
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.75% $13,479
    CBM Mortgage, Inc. 1 7.63% $11,314
    CANOPY MORTGAGE, LLC 1 5.63% $15,567
    CALIBER HOME LOANS, INC. 1 5.75% $12,273
    BNC National Bank 1 5.13% $16,720
    ROYAL UNITED MORTGAGE LLC 1 5.75% $25,262
    U.S. Bank 1 6.13% $9,580
    ServisFirst Bank 1 6.75% $12,859
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 5.75% $8,689
    US MORTGAGE CORPORATION 1 5.75% $9,331
    STOCKTON MORTGAGE CORPORATION 1 7.50% $7,988
    Bank of America 1 6.88% $17,485
    SWBC MORTGAGE CORPORATION 1 6.13% $7,600
    Synovus Bank 1 6.75% $8,075
    VAN DYK MORTGAGE CORPORATION 1 6.13% $7,923
    GARDNER FINANCIAL SERVICES, LTD. 1 7.00% $10,643
    Goldwater Bank, N.A. 1 6.63% $14,284
    First Option Mortgage, LLC 1 7.63% $9,267
    FIRST COMMUNITY MORTGAGE, INC. 1 7.63% $10,450
    EVERETT FINANCIAL, INC. 1 6.38% $12,683
    ENDEAVOR CAPITAL, LLC. 1 6.75% $20,990
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.50% $13,070
    THE MORTGAGE FIRM, INC. 1 7.00% $12,075
    Hometown Equity Mortgage, LLC 1 7.13% $11,766
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.13% $23,976
    Ixonia Bank 1 8.50% $13,343
    Keystone Funding, Inc. 1 6.63% $11,313
    LIBERTY HOME MORTGAGE CORPORATION 1 6.75% $19,273
    CORNERSTONE HOME LENDING, INC. 1 7.00% $7,666
    THE MORTGAGE LINK, INC. 1 8.25% $27,138
    Loan Simple, Inc. 1 7.63% $14,671
    MICHIGAN MUTUAL, INC. 1 5.13% $17,510

    The top Crestview FHA lender as defined by loan originations is BROKER SOLUTIONS, INC., with 109 FHA loans originated. Their average total fees are $10,816, which is $1,877 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Crestview FHA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. ($9,111), DHI MORTGAGE COMPANY, LTD. ($9,508), NEWREZ LLC ($10,293), EAGLE HOME MORTGAGE, LLC ($10,365) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($10,717).

    The lowest rate Crestview FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.29%), DHI MORTGAGE COMPANY, LTD. (5.38%), INSPIRE HOME LOANS INC. (5.89%), CARDINAL FINANCIAL (6.06%) and QUICKEN LOANS, LLC (6.15%).

    Crestview FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL OKALOOSA 2022 $539,350 $690,450 $834,600 $1,037,200
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL WALTON 2022 $539,350 $690,450 $834,600 $1,037,200
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL OKALOOSA 2023 $603,750 $772,900 $934,250 $1,161,050
    CRESTVIEW-FORT WALTON BEACH-DESTIN, FL WALTON 2023 $603,750 $772,900 $934,250 $1,161,050

    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).