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 154 lenders originated 2,488 FHA loans during 2022. The total origination value was $425,830,000, with an average FHA loan value of $171,154.

Dayton FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Dayton averaged 6.5% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

Dayton's average FHA mortgage closing costs are $6,033.

The average rate for the prior week (2023-05-19) was 6.27% and one month ago for the week of 2023-04-21, the average rate was 5.91%.

The average rate one year ago was 5.03%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.43%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 306 4.65% $7,814
DAS Acquisition Company, LLC 183 5.33% $8,740
CALIBER HOME LOANS, INC. 115 4.91% $6,810
THRIVE MORTGAGE, LLC 102 5.38% $7,857
Union Savings Bank 88 4.73% $5,971
PRIMELENDING, A PLAINSCAPITAL COMPANY 86 5.26% $8,382
WRIGHT-PATT CREDIT UNION, INC. 84 4.99% $5,585
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 82 5.89% $8,165
LOANDEPOT.COM, LLC 78 5.23% $7,804
The Huntington National Bank 74 5.23% $7,371
MOVEMENT MORTGAGE, LLC 64 5.04% $8,255
UNITED WHOLESALE MORTGAGE, LLC 57 5.00% $8,812
CROSSCOUNTRY MORTGAGE, LLC 46 5.97% $7,915
Mr. Cooper ( Nationstar Mortgage ) 36 4.65% $9,497
NVR Mortgage Finance, Inc. 33 4.28% $13,096
FREEDOM MORTGAGE CORPORATION 31 5.24% $8,394
T2 FINANCIAL LLC 28 5.37% $10,476
PENNYMAC LOAN SERVICES, LLC 27 4.18% $6,253
Fifth Third Bank 26 4.69% $4,973
NFM, INC. 26 5.61% $7,840
Carrington Mortgage Services, LLC 25 5.36% $9,585
AMERISAVE MORTGAGE CORPORATION 25 4.92% $9,456
UNION HOME MORTGAGE CORP. 25 5.54% $8,131
BROKER SOLUTIONS, INC. 22 5.38% $9,938
RUOFF MORTGAGE COMPANY, INC. 21 5.40% $6,216
VAN DYK MORTGAGE CORPORATION 21 5.23% $6,827
VICTORY MORTGAGE, L.L.C. 20 4.80% $9,872
JPMorgan Chase Bank 20 5.27% $5,397
U.S. Bank 19 4.48% $6,038
Nations Lending Corporation 19 5.40% $7,985
POLARIS HOME FUNDING CORP. 19 4.98% $9,588
Gateway First Bank 18 5.68% $6,267
Bank of England 18 5.03% $9,388
EQUITY RESOURCES, INC. 18 4.94% $5,753
Equity Prime Mortgage LLC 17 5.16% $8,338
PRIMARY RESIDENTIAL MORTGAGE, INC. 15 6.01% $7,829
Paramount Residential Mortgage Group, Inc. 15 5.26% $8,514
Mortgage Research Center, LLC 15 5.24% $6,205
GUARANTEED RATE, INC. 14 4.97% $8,877
NEWREZ LLC 14 5.47% $6,805
LAKEVIEW LOAN SERVICING, LLC 14 4.22% $4,609
AMERICAN MORTGAGE SERVICE COMPANY 13 5.44% $7,635
PNC Bank 12 4.85% $4,957
CARDINAL FINANCIAL 12 4.95% $9,296
LIBERTY HOME MORTGAGE CORPORATION 11 5.42% $6,938
GUILD MORTGAGE COMPANY 11 5.28% $9,683
VILLAGE CAPITAL MORTGAGE 10 3.79% $3,642
NORTHERN MORTGAGE SERVICES, LLC 10 4.90% $5,907
HOMESIDE FINANCIAL, LLC 10 5.21% $7,347
NATIONS RELIABLE LENDING, LLC 9 6.01% $9,808
American Midwest Mortgage Corporation 8 4.94% $8,411
ARC HOME LLC 8 4.94% $8,391
MORIA DEVELOPMENT, INC. 8 5.83% $8,936
RELIANCE FIRST CAPITAL, LLC 8 5.27% $8,190
TOP FLITE FINANCIAL, INC. 8 6.00% $10,516
EVERETT FINANCIAL, INC. 7 5.48% $5,478
Flagstar Bank, FSB 6 5.23% $8,689
MORTGAGE 1 INCORPORATED 6 5.58% $8,754
Ixonia Bank 6 5.64% $7,900
RAPID MORTGAGE COMPANY 5 5.90% $8,036
GENEVA FINANCIAL, LLC 5 6.25% $7,141
DHI MORTGAGE COMPANY, LTD. 5 4.42% $8,830
CHURCHILL MORTGAGE CORPORATION 4 5.53% $8,684
MUTUAL OF OMAHA MORTGAGE, INC. 4 5.25% $7,960
1st National Bank 4 4.28% $4,949
CMG MORTGAGE, INC. 4 5.03% $7,954
THE EQUITABLE MORTGAGE CORPORATION 4 4.25% $5,306
STOCKTON MORTGAGE CORPORATION 4 4.94% $10,190
HOME POINT FINANCIAL CORPORATION 4 4.65% $7,530
Hometown Lenders, Inc. 4 6.00% $9,406
KeyBank 4 5.66% $9,390
First Financial Bank 4 6.16% $7,021
BAYSHORE MORTGAGE FUNDING, LLC 4 5.72% $8,025
FIRST COMMUNITY MORTGAGE, INC. 4 6.38% $7,153
PLAZA HOME MORTGAGE, INC. 4 6.09% $10,794
Plains Commerce Bank 4 6.19% $10,965
The Park National Bank 3 6.38% $7,586
US MORTGAGE CORPORATION 3 6.17% $7,822
LEADERONE FINANCIAL CORPORATION 3 5.25% $7,387
NETWORK CAPITAL FUNDING CORPORATION 3 5.08% $9,165
DIRECT MORTGAGE LOANS, LLC 3 3.75% $8,064
LOANPAL, LLC 3 4.00% $7,984
GUARANTEED RATE AFFINITY, LLC 3 6.00% $7,484
MID AMERICA MORTGAGE, INC. 3 5.25% $5,524
Citizens Bank 3 4.50% $9,781
INSPIRE HOME LOANS INC. 3 4.88% $8,633
RiverHills Bank 3 5.38% $7,284
SOUTHWEST FUNDING, LP 3 7.00% $8,617
AMERICAN FINANCING CORPORATION 3 4.66% $8,102
KELLER MORTGAGE, LLC 3 4.58% $6,290
NEW DAY FINANCIAL, LLC 3 4.33% $8,599
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.44% $8,012
GUARANTY HOME MORTGAGE CORPORATION 2 4.50% $7,102
J. VIRGIL, INC. 2 5.38% $7,170
ENVOY MORTGAGE, LTD 2 5.13% $5,165
ENDEAVOR CAPITAL, LLC. 2 5.25% $8,369
Mercantile Bank of Michigan 2 5.13% $5,964
M&T Bank 2 3.81% $9,342
MYCUMORTGAGE, LLC 2 4.31% $4,472
NATIONS DIRECT MORTGAGE, LLC 2 4.13% $10,681
Civista Bank 2 4.44% $5,092
Northpointe Bank 2 4.81% $12,483
PLANET HOME LENDING, LLC 2 3.56% $6,137
Barrington Bank & Trust Company, N.A. 2 5.19% $6,178
ROYAL UNITED MORTGAGE LLC 2 4.13% $11,038
SUN WEST MORTGAGE COMPANY, INC. 2 4.94% $7,242
AmRes Corporation 2 4.94% $7,500
The Union Bank Company 2 3.88% $7,408
TOWNE MORTGAGE COMPANY 2 4.31% $5,685
First Guaranty Mortgage Corporation 2 3.56% $8,050
WEST PENN FINANCIAL SERVICE CENTER, INC. 2 5.25% $7,022
First Horizon Bank 1 4.38% $7,472
M/I FINANCIAL, LLC 1 4.00% $11,482
CALCON MUTUAL MORTGAGE LLC 1 5.63% $6,800
EMBRACE HOME LOANS, INC. 1 5.75% $7,977
BAY EQUITY LLC 1 6.75% $11,698
VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.75% $10,365
Prosperity Home Mortgage, LLC 1 5.99% $6,528
Bank of America 1 4.88% $5,457
Lakeview Community Capital, LLC 1 3.63% $5,768
Regions Bank 1 6.25% $7,704
Integrity Home Mortgage Corp 1 3.75% $6,444
RESIDENTIAL BANCORP. 1 5.25% $8,482
Hometown Equity Mortgage, LLC 1 4.25% $7,751
AMCAP MORTGAGE, LTD. 1 6.75% $6,634
Evolve Bank & Trust 1 5.63% $4,558
SIBCY CLINE MORTGAGE SERVICES, INC. 1 6.88% $7,521
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.25% $9,623
Heritage Bank 1 4.38% $6,382
SUCCESS MORTGAGE PARTNERS, INC. 1 5.13% $9,189
ALLIED MORTGAGE GROUP, INC. 1 6.13% $10,670
ACADEMY MORTGAGE CORPORATION 1 6.13% $5,393
HAMILTON HOME LOANS, INC. 1 5.63% $7,984
The Federal Savings Bank 1 3.75% $13,706
AMERIFIRST FINANCIAL CORPORATION 1 5.75% $13,654
FBC MORTGAGE, LLC 1 5.63% $10,577
Wells Fargo Bank 1 4.50% $8,200
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $8,296
First Commonwealth Bank 1 4.99% $6,185
ZILLOW HOME LOANS, LLC 1 4.50% $11,376
1ST SIGNATURE LENDING, LLC 1 3.38% $9,503
GSF Mortgage Corporation 1 3.13% $7,577
UNITED MORTGAGE CORP. 1 4.75% $9,250
COMPASS MORTGAGE, INC. 1 3.88% $6,516
First United Bank and Trust Company 1 4.50% $12,071
AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $7,826
NORWICH COMMERCIAL GROUP, INC. 1 5.25% $7,002
NP, Inc. 1 6.88% $6,194
NTFN, INC. 1 7.13% $5,851
CONTOUR MORTGAGE CORPORATION 1 6.13% $17,070
Cincinnati Federal 1 5.13% $6,288
DEVELOPER'S MORTGAGE COMPANY 1 5.50% $11,700
PENTAGON FEDERAL CREDIT UNION 1 5.50% $9,044
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.13% $17,070

The top Dayton FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 306 FHA loans originated. Their average total fees are $7,814, which is $926 lower than the next largest lender, DAS Acquisition Company, LLC.

The lowest fee Dayton FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($3,642), LAKEVIEW LOAN SERVICING, LLC ($4,609), PNC Bank ($4,957), Fifth Third Bank ($4,973) and JPMorgan Chase Bank ($5,397).

The lowest rate Dayton FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (3.79%), PENNYMAC LOAN SERVICES, LLC (4.18%), LAKEVIEW LOAN SERVICING, LLC (4.22%), NVR Mortgage Finance, Inc. (4.28%) and U.S. Bank (4.48%).

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).