Defiance FHA Loan Rates, Closing Costs & Stats

Defiance, 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.

Defiance's 29 lenders originated 74 FHA loans during 2023. The total origination value was $11,790,000, with an average FHA loan value of $159,324.

Defiance FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Defiance averaged 6.86% for the week of 2024-06-07, compared to the national average (all FHA variants) of 6.692% for the same period.

Defiance's average FHA mortgage closing costs are $6,157.

The average rate for the prior week (2024-05-31) was 7.05% and one month ago for the week of 2024-05-03, the average rate was 6.95%.

The average rate one year ago was 7.01%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.59%.

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

Defiance 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 Defiance level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
The Huntington National Bank 11 6.45% $7,103
QUICKEN LOANS, LLC 11 6.53% $6,883
CROSSCOUNTRY MORTGAGE, LLC 9 7.15% $7,326
RUOFF MORTGAGE COMPANY, INC. 3 7.08% $10,726
Mortgage Research Center, LLC 3 7.00% $5,084
AMERISAVE MORTGAGE CORPORATION 2 5.69% $9,202
POLARIS HOME FUNDING CORP. 2 6.94% $14,842
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.75% $9,035
The State Bank and Trust Company 2 6.19% $6,578
EQUITY RESOURCES, INC. 2 7.12% $9,378
MEMBER FIRST MORTGAGE, LLC 1 6.63% $6,982
MORIA DEVELOPMENT, INC. 1 7.25% $6,842
Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $8,804
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $9,265
NEWREZ LLC 1 6.75% $6,410
RELIANCE FIRST CAPITAL, LLC 1 7.25% $7,308
ROYAL UNITED MORTGAGE LLC 1 7.25% $5,730
THE EQUITABLE MORTGAGE CORPORATION 1 7.63% $5,532
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $9,964
UNION HOME MORTGAGE CORP. 1 6.63% $5,440
ARC HOME LLC 1 7.63% $10,865
Carrington Mortgage Services, LLC 1 6.13% $5,424
DAS Acquisition Company, LLC 1 7.63% $6,569
FREEDOM MORTGAGE CORPORATION 1 6.25% $8,675
GUARANTEED RATE, INC. 1 6.75% $4,704
HALLMARK HOME MORTGAGE, LLC 1 7.13% $7,803
HOMESIDE FINANCIAL, LLC 1 5.25% $10,401
JPMorgan Chase Bank 1 5.75% $8,575
LOANDEPOT.COM, LLC 1 6.63% $8,508

The top Defiance FHA lender as defined by loan originations is The Huntington National Bank, with 11 FHA loans originated. Their average total fees are $7,103, which is $220 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Defiance FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($6,883), The Huntington National Bank ($7,103), .

The lowest rate Defiance FHA lenders (with over 10 loans originated) are The Huntington National Bank (6.45%), QUICKEN LOANS, LLC (6.53%), .

Defiance FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Defiance (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 $108,450 (27.7%) $159,013 (19.0%) 0.00 97
2018-02-01 $103,600 (22.7%) $154,980 (9.7%) 0.00 83
2018-03-01 $110,000 (26.4%) $150,182 (3.4%) 0.00 73
2018-04-01 $108,450 (20.6%) $150,352 (-4.1%) 0.00 77
2018-05-01 $101,200 (-16.8%) $150,172 (-2.5%) 0.00 79
2018-06-01 $102,400 (-11.2%) $148,482 (-3.3%) 0.00 76
2018-07-01 $117,150 (0.4%) $163,607 (9.2%) 0.00 78
2018-08-01 $108,400 (-10.1%) $152,716 (-2.9%) 0.00 97
2018-09-01 $110,000 (-4.7%) $150,282 (-1.5%) 0.00 107
2018-10-01 $114,900 (-1.1%) $150,422 (-3.8%) 0.00 108
2018-11-01 $120,925 (5.6%) $153,600 (-3.7%) 0.00 105
2018-12-01 $127,900 (11.5%) $161,586 (1.6%) 0.00 93
2019-01-01 $126,900 (17.0%) $164,338 (3.4%) 0.00 78
2019-02-01 $129,950 (25.4%) $171,097 (10.4%) 0.00 67
2019-03-01 $135,471 (23.2%) $176,016 (17.2%) 0.00 66
2019-04-01 $139,471 (28.6%) $178,621 (18.8%) 0.00 61
2019-05-01 $139,900 (38.2%) $179,652 (19.6%) 0.00 58
2019-06-01 $119,900 (17.1%) $158,960 (7.1%) 0.00 76
2019-07-01 $134,900 (15.2%) $159,407 (-2.6%) 0.00 82
2019-08-01 $136,264 (25.7%) $161,270 (5.6%) 0.00 87
2019-09-01 $138,309 (25.7%) $163,403 (8.7%) 0.00 88
2019-10-01 $139,900 (21.8%) $164,500 (9.4%) 0.00 89
2019-11-01 $132,500 (9.6%) $155,082 (1.0%) 0.00 105
2019-12-01 $129,925 (1.6%) $159,710 (-1.2%) 0.00 96
2020-01-01 $126,050 (-0.7%) $153,865 (-6.4%) 0.00 84
2020-02-01 $125,000 (-3.8%) $149,156 (-12.8%) 0.00 70
2020-03-01 $121,100 (-10.6%) $146,537 (-16.8%) 0.00 58
2020-04-01 $127,750 (-8.4%) $157,958 (-11.6%) 0.00 54
2020-05-01 $124,900 (-10.7%) $156,683 (-12.8%) 0.00 50
2020-06-01 $143,650 (19.8%) $170,321 (7.2%) 0.00 46
2020-07-01 $134,850 (0.0%) $184,998 (16.1%) 0.00 44
2020-08-01 $147,450 (8.2%) $193,202 (19.8%) 0.00 46
2020-09-01 $181,000 (30.9%) $215,492 (31.9%) 0.00 45
2020-10-01 $155,000 (10.8%) $213,713 (29.9%) 0.00 50
2020-11-01 $138,400 (4.5%) $188,612 (21.6%) 0.00 52
2020-12-01 $129,900 (0.0%) $179,346 (12.3%) 0.00 42
2021-01-01 $139,900 (11.0%) $199,371 (29.6%) 0.00 39
2021-02-01 $129,400 (3.5%) $197,115 (32.2%) 0.00 31
2021-03-01 $194,950 (61.0%) $230,991 (57.6%) 0.00 25
2021-04-01 $151,450 (18.6%) $198,954 (26.0%) 0.00 24
2021-05-01 $150,950 (20.9%) $184,562 (17.8%) 0.00 31
2021-06-01 $151,750 (5.6%) $178,996 (5.1%) 0.00 37
2021-07-01 $149,000 (10.5%) $178,189 (-3.7%) 0.00 34
2021-08-01 $138,875 (-5.8%) $158,886 (-17.8%) 0.00 44
2021-09-01 $142,700 (-21.2%) $154,893 (-28.1%) 0.00 52
2021-10-01 $125,000 (-19.4%) $146,236 (-31.6%) 0.00 50
2021-11-01 $120,650 (-12.8%) $149,034 (-21.0%) 0.00 55
2021-12-01 $132,975 (2.4%) $157,357 (-12.3%) 0.00 54
2022-01-01 $129,900 (-7.2%) $155,473 (-22.0%) 0.00 46
2022-02-01 $145,225 (12.2%) $165,764 (-15.9%) 0.00 39
2022-03-01 $147,400 (-24.4%) $173,128 (-25.1%) 0.00 30
2022-04-01 $172,400 (13.8%) $206,123 (3.6%) 0.00 33
2022-05-01 $159,900 (5.9%) $194,234 (5.2%) 0.00 41
2022-06-01 $169,900 (12.0%) $184,295 (3.0%) 0.00 43
2022-07-01 $159,900 (7.3%) $172,523 (-3.2%) 0.00 56
2022-08-01 $159,875 (15.1%) $165,309 (4.0%) 0.00 57
2022-09-01 $158,925 (11.4%) $164,591 (6.3%) 0.00 53
2022-10-01 $149,950 (20.0%) $166,290 (13.7%) 0.00 45
2022-11-01 $147,075 (21.9%) $172,785 (15.9%) 0.00 46
2022-12-01 $149,900 (12.7%) $166,806 (6.0%) 0.00 43
2023-01-01 $165,825 (27.7%) $173,488 (11.6%) 0.00 42
2023-02-01 $173,725 (19.6%) $184,075 (11.1%) 0.00 36
2023-03-01 $184,725 (25.3%) $203,726 (17.7%) 0.00 36
2023-04-01 $164,950 (-4.3%) $204,382 (-0.8%) 0.00 36
2023-05-01 $164,900 (3.1%) $208,520 (7.4%) 0.00 32
2023-06-01 $174,575 (2.8%) $198,309 (7.6%) 0.00 32
2023-07-01 $215,000 (34.5%) $232,920 (35.0%) 0.00 34
2023-08-01 $224,450 (40.4%) $233,230 (41.1%) 0.00 34
2023-09-01 $199,900 (25.8%) $210,200 (27.7%) 0.00 35
2023-10-01 $192,200 (28.2%) $207,542 (24.8%) 0.00 42
2023-11-01 $200,000 (36.0%) $221,648 (28.3%) 0.00 38
2023-12-01 $193,900 (29.4%) $210,481 (26.2%) 0.00 39
2024-01-01 $202,250 (22.0%) $214,937 (23.9%) 0.00 34
2024-02-01 $209,000 (20.3%) $218,096 (18.5%) 0.00 27
2024-03-01 $199,950 (8.2%) $217,806 (6.9%) 0.00 25
2024-04-01 $179,975 (9.1%) $214,490 (5.0%) 0.00 30
2024-05-01 $206,225 (25.1%) $232,316 (11.4%) 0.00 26
Defiance's median listing price for 2024-05-01 was $206,225, a difference of $41,325 (25.1%) versus the prior year and $26,250 versus the prior month.

Defiance's median listing price comes in at 0% of the national average.

Defiance's average listing price for 2024-05-01 was $232,316, a difference of $23,796 (11.4%) versus the prior year and $17,826 versus the prior month.

For the 2024-05-01 period, Defiance had 26 MLS listings, a difference of -4 listings (-13%) versus the prior month and -6 listings (-19%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Defiance (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,506 sqft
2018-02-01 0 days 1,530 sqft
2018-03-01 0 days 1,505 sqft
2018-04-01 0 days 1,464 sqft
2018-05-01 0 days 1,549 sqft
2018-06-01 0 days 1,504 sqft
2018-07-01 0 days 1,557 sqft
2018-08-01 0 days 1,553 sqft
2018-09-01 0 days 1,545 sqft
2018-10-01 0 days 1,630 sqft
2018-11-01 0 days 1,654 sqft
2018-12-01 0 days 1,761 sqft
2019-01-01 0 days 1,687 sqft
2019-02-01 0 days 1,752 sqft
2019-03-01 0 days 1,707 sqft
2019-04-01 0 days 1,658 sqft
2019-05-01 0 days 1,624 sqft
2019-06-01 0 days 1,555 sqft
2019-07-01 0 days 1,572 sqft
2019-08-01 0 days 1,572 sqft
2019-09-01 0 days 1,547 sqft
2019-10-01 0 days 1,528 sqft
2019-11-01 0 days 1,482 sqft
2019-12-01 0 days 1,498 sqft
2020-01-01 0 days 1,460 sqft
2020-02-01 0 days 1,472 sqft
2020-03-01 0 days 1,454 sqft
2020-04-01 0 days 1,543 sqft
2020-05-01 0 days 1,680 sqft
2020-06-01 0 days 1,770 sqft
2020-07-01 0 days 1,780 sqft
2020-08-01 0 days 1,785 sqft
2020-09-01 0 days 2,026 sqft
2020-10-01 0 days 2,000 sqft
2020-11-01 0 days 1,571 sqft
2020-12-01 0 days 1,577 sqft
2021-01-01 0 days 1,750 sqft
2021-02-01 0 days 1,540 sqft
2021-03-01 0 days 1,958 sqft
2021-04-01 0 days 1,773 sqft
2021-05-01 0 days 1,715 sqft
2021-06-01 0 days 1,609 sqft
2021-07-01 0 days 1,728 sqft
2021-08-01 0 days 1,480 sqft
2021-09-01 0 days 1,467 sqft
2021-10-01 0 days 1,473 sqft
2021-11-01 0 days 1,476 sqft
2021-12-01 0 days 1,482 sqft
2022-01-01 0 days 1,501 sqft
2022-02-01 0 days 1,561 sqft
2022-03-01 0 days 1,555 sqft
2022-04-01 0 days 1,609 sqft
2022-05-01 0 days 1,594 sqft
2022-06-01 0 days 1,606 sqft
2022-07-01 0 days 1,584 sqft
2022-08-01 0 days 1,577 sqft
2022-09-01 0 days 1,498 sqft
2022-10-01 0 days 1,528 sqft
2022-11-01 0 days 1,551 sqft
2022-12-01 0 days 1,528 sqft
2023-01-01 0 days 1,508 sqft
2023-02-01 0 days 1,481 sqft
2023-03-01 0 days 1,587 sqft
2023-04-01 0 days 1,587 sqft
2023-05-01 0 days 1,643 sqft
2023-06-01 0 days 1,502 sqft
2023-07-01 0 days 1,724 sqft
2023-08-01 0 days 1,739 sqft
2023-09-01 0 days 1,584 sqft
2023-10-01 0 days 1,672 sqft
2023-11-01 0 days 1,671 sqft
2023-12-01 0 days 1,637 sqft
2024-01-01 0 days 1,621 sqft
2024-02-01 0 days 1,631 sqft
2024-03-01 0 days 1,535 sqft
2024-04-01 0 days 1,498 sqft
2024-05-01 0 days 1,515 sqft
Defiance's median listing age (time on market) for 2024-05-01 was 0 days.

Defiance's median square footage for active listings during the 2024-05-01 period was 1,515 sqft. One year prior, the average listing was 1,643 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).