Defiance FHA Loan Rates, Closing Costs & Stats

Defiance, 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.

    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 7.13% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.82% and one month ago for the week of 2024-03-15, the average rate was 6.68%.

    The average rate one year ago was 6.31%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

    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
    Defiance's median listing price for 2024-03-01 was $199,950, a difference of $15,225 (8.2%) versus the prior year and $-9,050 versus the prior month.

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

    Defiance's average listing price for 2024-03-01 was $217,806, a difference of $14,080 (6.9%) versus the prior year and $-290 versus the prior month.

    For the 2024-03-01 period, Defiance had 25 MLS listings, a difference of -2 listings (-7%) versus the prior month and -11 listings (-31%) 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
    Defiance's median listing age (time on market) for 2024-03-01 was 0 days.

    Defiance's median square footage for active listings during the 2024-03-01 period was 1,535 sqft. One year prior, the average listing was 1,587 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).