Dayton FHA Loan Rates, Closing Costs & Stats

DAYTON-KETTERING, 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.

Dayton's 145 lenders originated 2,164 FHA loans during 2023. The total origination value was $405,250,000, with an average FHA loan value of $187,269.

Dayton FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Dayton averaged 6.91% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Dayton's average FHA mortgage closing costs are $6,390.

The average rate for the prior week (2024-04-05) was 6.54% and one month ago for the week of 2024-03-08, the average rate was 6.68%.

The average rate one year ago was 6.51%.

For refis of the same type during the week of 2024-04-12, the average rate was 7.51%.

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

Dayton 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 Dayton level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 221 6.36% $8,804
DAS Acquisition Company, LLC 114 7.20% $9,620
CROSSCOUNTRY MORTGAGE, LLC 98 7.03% $8,811
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 93 7.19% $8,492
UNITED WHOLESALE MORTGAGE, LLC 84 6.51% $10,898
Union Savings Bank 75 6.76% $7,244
THRIVE MORTGAGE, LLC 71 6.91% $8,210
WRIGHT-PATT CREDIT UNION, INC. 66 6.79% $5,900
The Huntington National Bank 62 6.91% $7,474
BROKER SOLUTIONS, INC. 56 6.82% $10,249
LOANDEPOT.COM, LLC 52 6.72% $8,391
MOVEMENT MORTGAGE, LLC 52 6.35% $10,102
Fifth Third Bank 51 6.63% $4,868
NVR Mortgage Finance, Inc. 51 5.70% $9,663
UNION HOME MORTGAGE CORP. 50 7.07% $9,096
PRIMELENDING, A PLAINSCAPITAL COMPANY 50 7.00% $9,437
RUOFF MORTGAGE COMPANY, INC. 37 6.95% $5,952
FREEDOM MORTGAGE CORPORATION 34 6.91% $10,735
NEWREZ LLC 34 6.91% $8,464
Mr. Cooper ( Nationstar Mortgage ) 27 6.15% $10,411
VICTORY MORTGAGE, L.L.C. 26 5.99% $10,322
U.S. Bank 25 6.88% $6,852
MUTUAL OF OMAHA MORTGAGE, INC. 24 6.93% $9,665
Western Ohio Mortgage Corporation 23 6.91% $9,179
POLARIS HOME FUNDING CORP. 22 6.80% $10,248
AMERISAVE MORTGAGE CORPORATION 20 5.95% $13,596
T2 FINANCIAL LLC 18 6.97% $9,228
FIRST COMMUNITY MORTGAGE, INC. 15 6.92% $9,265
PENNYMAC LOAN SERVICES, LLC 13 6.31% $12,189
MID AMERICA MORTGAGE, INC. 13 7.00% $6,335
JPMorgan Chase Bank 13 7.03% $3,654
EQUITY RESOURCES, INC. 12 6.84% $6,386
Carrington Mortgage Services, LLC 12 6.54% $9,285
NFM, INC. 12 7.20% $9,409
MYCUMORTGAGE, LLC 12 6.89% $6,328
GENEVA FINANCIAL, LLC 12 7.23% $14,776
HOWARD HANNA FINANCIAL SERVICES, INC. 10 6.83% $9,996
Paramount Residential Mortgage Group, Inc. 10 7.31% $8,996
GUARANTEED RATE, INC. 10 6.46% $8,334
Gateway First Bank 10 6.59% $6,093
PRIMARY RESIDENTIAL MORTGAGE, INC. 10 6.36% $10,253
ENDEAVOR CAPITAL, LLC. 9 6.65% $9,750
First Financial Bank 8 6.72% $6,347
M/I FINANCIAL, LLC 8 6.20% $14,219
American Mortgage & Equity Consultants, Inc. 8 7.25% $11,180
NATIONS RELIABLE LENDING, LLC 8 6.92% $9,882
Mortgage Research Center, LLC 8 6.88% $7,019
LAKEVIEW LOAN SERVICING, LLC 7 6.68% $10,428
CARDINAL FINANCIAL 7 6.18% $8,889
MORTGAGE 1 INCORPORATED 7 7.09% $8,335
RAPID MORTGAGE COMPANY 7 7.18% $10,960
ZILLOW HOME LOANS, LLC 7 6.71% $7,650
Bank of England 7 6.86% $10,043
NORTHERN MORTGAGE SERVICES, LLC 6 7.04% $6,602
CALIBER HOME LOANS, INC. 6 6.58% $14,141
SUCCESS MORTGAGE PARTNERS, INC. 6 7.08% $9,157
PNC Bank 6 6.60% $6,254
KeyBank 6 6.60% $5,855
VAN DYK MORTGAGE CORPORATION 6 7.10% $5,362
AMERICAN FINANCIAL NETWORK, INC. 6 7.27% $9,909
DHI MORTGAGE COMPANY, LTD. 6 5.39% $7,944
Equity Prime Mortgage LLC 5 7.28% $7,474
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 6.75% $10,689
HOMESIDE FINANCIAL, LLC 5 7.30% $10,100
KELLER MORTGAGE, LLC 5 5.93% $6,294
LIBERTY HOME MORTGAGE CORPORATION 5 7.08% $8,084
LOANPAL, LLC 5 6.40% $9,378
Mercantile Bank of Michigan 5 6.53% $7,260
NATIONS DIRECT MORTGAGE, LLC 5 6.77% $9,995
Plains Commerce Bank 5 6.68% $13,110
PLANET HOME LENDING, LLC 5 5.50% $7,324
TOP FLITE FINANCIAL, INC. 5 7.03% $13,100
VANDERBILT MORTGAGE AND FINANCE, INC. 5 6.45% $12,807
VILLAGE CAPITAL MORTGAGE 5 6.18% $8,149
AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.59% $10,738
GUILD MORTGAGE COMPANY 4 6.47% $9,535
1st National Bank 4 7.22% $6,296
WesBanco 3 6.25% $7,182
INSPIRE HOME LOANS INC. 3 5.58% $7,978
NEW DAY FINANCIAL, LLC 3 7.74% $8,688
Flagstar Bank, FSB 3 6.92% $10,638
Ixonia Bank 3 7.21% $7,812
NATIONWIDE MORTGAGE BANKERS, INC. 3 7.00% $10,350
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.69% $8,773
STOCKTON MORTGAGE CORPORATION 2 6.94% $10,735
ARC HOME LLC 2 6.13% $7,539
AmeriHome Mortgage Company, LLC 2 6.88% $8,450
Guardian Savings Bank, A Federal Savings Bank 2 6.56% $7,424
Kwik Mortgage Corporation 2 7.50% $7,946
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.38% $11,854
M&T Bank 2 5.94% $7,608
SeaTrust Mortgage Company 2 7.00% $8,068
Nations Lending Corporation 2 7.00% $13,110
SUMMIT FUNDING, INC. 2 6.69% $9,311
SUN WEST MORTGAGE COMPANY, INC. 2 6.69% $16,984
First Federal Bank 2 6.63% $9,123
BAYSHORE MORTGAGE FUNDING, LLC 2 7.44% $10,715
EVERETT FINANCIAL, INC. 2 6.88% $14,502
Barrington Bank & Trust Company, N.A. 2 7.00% $8,508
TJC Mortgage, Inc. 2 6.81% $12,386
Cincinnati Federal 2 6.88% $10,293
ROYAL UNITED MORTGAGE LLC 1 6.75% $11,221
CANOPY MORTGAGE, LLC 1 6.50% $9,924
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 5.63% $13,517
Blue Ridge Bank 1 6.49% $4,639
BECKAM FUNDING CORP. 1 6.88% $15,783
The Federal Savings Bank 1 7.75% $17,929
The Loan Store, Inc. 1 6.99% $18,584
The Park National Bank 1 6.50% $8,683
WEST PENN FINANCIAL SERVICE CENTER, INC. 1 5.75% $12,888
Truist 1 6.10% $7,671
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.75% $8,203
AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $7,739
LEADERONE FINANCIAL CORPORATION 1 6.99% $5,662
American Mortgage Bank, LLC 1 6.25% $11,372
Mazuma Credit Union 1 6.88% $9,857
MEMBER FIRST MORTGAGE, LLC 1 7.75% $7,261
AMCAP MORTGAGE, LTD. 1 6.13% $14,544
SIBCY CLINE MORTGAGE SERVICES, INC. 1 7.50% $7,600
MIDLAND MORTGAGE CORPORATION 1 6.25% $14,197
MILEND, INC. 1 6.75% $12,908
GUARANTEED RATE AFFINITY, LLC 1 6.63% $14,471
GSF Mortgage Corporation 1 6.63% $8,454
Goldwater Bank, N.A. 1 7.25% $12,228
Wells Fargo Bank 1 6.63% $11,539
FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.75% $11,910
NBH Bank 1 6.13% $7,430
NBKC BANK 1 7.00% $7,362
NETWORK CAPITAL FUNDING CORPORATION 1 6.75% $7,019
Evolve Bank & Trust 1 5.63% $5,689
NORWICH COMMERCIAL GROUP, INC. 1 7.38% $5,938
EMM LOANS LLC 1 6.50% $12,450
OCEANSIDE MORTGAGE COMPANY 1 7.13% $2,293
ON Q FINANCIAL, INC. 1 6.75% $14,405
OPTION FINANCIAL, LLC 1 6.63% $5,826
EMBRACE HOME LOANS, INC. 1 6.25% $11,876
DRAPER AND KRAMER MORTGAGE CORP. 1 7.13% $6,308
Peoples Bank 1 7.63% $5,052
American Midwest Mortgage Corporation 1 6.75% $9,369
CMG MORTGAGE, INC. 1 5.75% $6,990
Citibank 1 5.75% $5,049
CHURCHILL MORTGAGE CORPORATION 1 6.75% $7,431
Century Mortgage Company DBA Century Lending Company 1 6.99% $16,471
CASTLE & COOKE MORTGAGE, LLC 1 6.63% $10,738
Residential Mortgage Solutions, Inc. 1 5.88% $15,519

The top Dayton FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 221 FHA loans originated. Their average total fees are $8,804, which is $816 lower than the next largest lender, DAS Acquisition Company, LLC.

The lowest fee Dayton FHA lenders (with over 10 loans originated) are JPMorgan Chase Bank ($3,654), Fifth Third Bank ($4,868), WRIGHT-PATT CREDIT UNION, INC. ($5,900), RUOFF MORTGAGE COMPANY, INC. ($5,952) and Gateway First Bank ($6,093).

The lowest rate Dayton FHA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. (5.70%), AMERISAVE MORTGAGE CORPORATION (5.95%), VICTORY MORTGAGE, L.L.C. (5.99%), Mr. Cooper ( Nationstar Mortgage ) (6.15%) and PENNYMAC LOAN SERVICES, LLC (6.31%).

Dayton FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
DAYTON-KETTERING, OH GREENE 2022 $420,680 $538,650 $651,050 $809,150
DAYTON-KETTERING, OH MIAMI 2022 $420,680 $538,650 $651,050 $809,150
DAYTON-KETTERING, OH MONTGOMERY 2022 $420,680 $538,650 $651,050 $809,150
DAYTON-KETTERING, OH GREENE 2023 $472,030 $604,400 $730,525 $907,900
DAYTON-KETTERING, OH MIAMI 2023 $472,030 $604,400 $730,525 $907,900
DAYTON-KETTERING, OH MONTGOMERY 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Dayton (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 $127,900 (11.3%) $184,514 (9.6%) 0.47 2,363
2018-02-01 $132,398 (15.2%) $190,297 (12.7%) 0.48 2,205
2018-03-01 $139,500 (21.4%) $197,479 (14.0%) 0.48 2,099
2018-04-01 $139,900 (16.7%) $198,972 (9.1%) 0.47 2,095
2018-05-01 $144,950 (17.6%) $207,840 (13.2%) 0.48 2,130
2018-06-01 $154,900 (22.5%) $213,319 (13.7%) 0.52 2,311
2018-07-01 $159,450 (11.9%) $216,067 (9.9%) 0.53 2,435
2018-08-01 $157,750 (12.3%) $214,234 (8.9%) 0.53 2,606
2018-09-01 $149,900 (7.2%) $206,009 (4.8%) 0.50 2,783
2018-10-01 $147,450 (2.2%) $202,919 (3.4%) 0.49 2,876
2018-11-01 $148,700 (8.2%) $201,445 (3.9%) 0.50 2,823
2018-12-01 $146,900 (13.1%) $197,932 (6.3%) 0.50 2,633
2019-01-01 $145,500 (13.8%) $197,165 (6.9%) 0.50 2,235
2019-02-01 $146,450 (10.6%) $204,554 (7.5%) 0.49 2,024
2019-03-01 $151,429 (8.6%) $206,206 (4.4%) 0.49 2,230
2019-04-01 $154,950 (10.8%) $205,434 (3.3%) 0.49 2,513
2019-05-01 $158,925 (9.6%) $208,411 (0.3%) 0.49 2,527
2019-06-01 $165,000 (6.5%) $220,231 (3.2%) 0.51 2,022
2019-07-01 $175,950 (10.4%) $225,261 (4.3%) 0.55 2,169
2019-08-01 $174,000 (10.3%) $228,771 (6.8%) 0.55 2,141
2019-09-01 $169,950 (13.4%) $229,739 (11.5%) 0.54 2,126
2019-10-01 $171,445 (16.3%) $228,540 (12.6%) 0.55 2,242
2019-11-01 $169,000 (13.7%) $226,391 (12.4%) 0.55 2,174
2019-12-01 $162,200 (10.4%) $224,889 (13.6%) 0.54 1,908
2020-01-01 $161,450 (11.0%) $223,184 (13.2%) 0.54 1,677
2020-02-01 $169,900 (16.0%) $228,584 (11.8%) 0.55 1,442
2020-03-01 $187,400 (23.8%) $242,074 (17.4%) 0.59 1,496
2020-04-01 $192,325 (24.1%) $241,444 (17.5%) 0.60 1,423
2020-05-01 $198,000 (24.6%) $252,227 (21.0%) 0.60 1,271
2020-06-01 $207,445 (25.7%) $254,780 (15.7%) 0.61 1,157
2020-07-01 $200,950 (14.2%) $253,519 (12.5%) 0.58 1,137
2020-08-01 $199,900 (14.9%) $254,779 (11.4%) 0.57 1,141
2020-09-01 $209,900 (23.5%) $258,208 (12.4%) 0.60 1,183
2020-10-01 $199,969 (16.6%) $257,858 (12.8%) 0.57 1,227
2020-11-01 $189,950 (12.4%) $252,261 (11.4%) 0.54 1,205
2020-12-01 $185,450 (14.3%) $249,327 (10.9%) 0.54 1,062
2021-01-01 $194,900 (20.7%) $247,295 (10.8%) 0.57 831
2021-02-01 $195,000 (14.8%) $264,451 (15.7%) 0.56 601
2021-03-01 $182,400 (-2.7%) $272,152 (12.4%) 0.51 609
2021-04-01 $183,900 (-4.4%) $276,076 (14.3%) 0.49 600
2021-05-01 $195,000 (-1.5%) $285,115 (13.0%) 0.51 632
2021-06-01 $199,500 (-3.8%) $282,182 (10.8%) 0.52 801
2021-07-01 $212,900 (6.0%) $287,155 (13.3%) 0.55 934
2021-08-01 $214,950 (7.5%) $288,253 (13.1%) 0.57 1,135
2021-09-01 $207,400 (-1.2%) $287,809 (11.5%) 0.55 1,149
2021-10-01 $199,000 (-0.5%) $268,495 (4.1%) 0.52 1,147
2021-11-01 $189,000 (-0.5%) $269,152 (6.7%) 0.50 998
2021-12-01 $188,700 (1.8%) $272,894 (9.5%) 0.50 905
2022-01-01 $180,000 (-7.6%) $269,908 (9.1%) 0.48 699
2022-02-01 $197,450 (1.3%) $286,116 (8.2%) 0.50 506
2022-03-01 $214,900 (17.8%) $294,997 (8.4%) 0.53 532
2022-04-01 $214,900 (16.9%) $274,174 (-0.7%) 0.51 742
2022-05-01 $217,450 (11.5%) $290,618 (1.9%) 0.49 929
2022-06-01 $227,450 (14.0%) $298,630 (5.8%) 0.51 1,081
2022-07-01 $227,500 (6.9%) $292,982 (2.0%) 0.51 1,260
2022-08-01 $227,000 (5.6%) $288,637 (0.1%) 0.52 1,310
Dayton's median listing price for 2022-08-01 was $227,000, a difference of $12,050 (5.6%) versus the prior year and $-500 versus the prior month.

Dayton's median listing price comes in at 52% of the national average.

Dayton's average listing price for 2022-08-01 was $288,637, a difference of $384 (0.1%) versus the prior year and $-4,345 versus the prior month.

For the 2022-08-01 period, Dayton had 1,310 MLS listings, a difference of 50 listings (4%) versus the prior month and 175 listings (15%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Dayton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 76 days 1,493 sqft
2018-02-01 68 days 1,535 sqft
2018-03-01 50 days 1,635 sqft
2018-04-01 45 days 1,640 sqft
2018-05-01 42 days 1,666 sqft
2018-06-01 44 days 1,680 sqft
2018-07-01 44 days 1,713 sqft
2018-08-01 46 days 1,708 sqft
2018-09-01 49 days 1,664 sqft
2018-10-01 52 days 1,644 sqft
2018-11-01 56 days 1,639 sqft
2018-12-01 65 days 1,602 sqft
2019-01-01 74 days 1,598 sqft
2019-02-01 72 days 1,588 sqft
2019-03-01 53 days 1,630 sqft
2019-04-01 41 days 1,664 sqft
2019-05-01 37 days 1,668 sqft
2019-06-01 39 days 1,705 sqft
2019-07-01 41 days 1,768 sqft
2019-08-01 46 days 1,749 sqft
2019-09-01 49 days 1,717 sqft
2019-10-01 46 days 1,693 sqft
2019-11-01 52 days 1,680 sqft
2019-12-01 61 days 1,668 sqft
2020-01-01 65 days 1,631 sqft
2020-02-01 56 days 1,637 sqft
2020-03-01 40 days 1,694 sqft
2020-04-01 47 days 1,701 sqft
2020-05-01 60 days 1,730 sqft
2020-06-01 50 days 1,777 sqft
2020-07-01 40 days 1,765 sqft
2020-08-01 35 days 1,762 sqft
2020-09-01 36 days 1,776 sqft
2020-10-01 33 days 1,762 sqft
2020-11-01 38 days 1,704 sqft
2020-12-01 50 days 1,655 sqft
2021-01-01 58 days 1,568 sqft
2021-02-01 54 days 1,541 sqft
2021-03-01 37 days 1,524 sqft
2021-04-01 32 days 1,569 sqft
2021-05-01 28 days 1,516 sqft
2021-06-01 24 days 1,607 sqft
2021-07-01 24 days 1,691 sqft
2021-08-01 25 days 1,622 sqft
2021-09-01 31 days 1,574 sqft
2021-10-01 35 days 1,559 sqft
2021-11-01 40 days 1,533 sqft
2021-12-01 43 days 1,488 sqft
2022-01-01 49 days 1,448 sqft
2022-02-01 46 days 1,499 sqft
2022-03-01 28 days 1,580 sqft
2022-04-01 28 days 1,510 sqft
2022-05-01 29 days 1,557 sqft
2022-06-01 27 days 1,613 sqft
2022-07-01 30 days 1,624 sqft
2022-08-01 36 days 1,665 sqft
Dayton's median listing age (time on market) for 2022-08-01 was 36 days. This is 47% longer than the same period one year ago.

Dayton's median square footage for active listings during the 2022-08-01 period was 1,665 sqft. One year prior, the average listing was 1,622 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).