Dayton FHA Loan Rates, Closing Costs & Stats

DAYTON-KETTERING, 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.

    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 7.03% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.62% and one month ago for the week of 2024-03-15, the average rate was 6.89%.

    The average rate one year ago was 6.62%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.23%.

    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).