Dodge City FHA Loan Rates, Closing Costs & Stats

Dodge City, KS

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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.

    Dodge City's 23 lenders originated 88 FHA loans during 2023. The total origination value was $19,190,000, with an average FHA loan value of $218,068.

    Dodge City FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Dodge City averaged 6.55% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

    Dodge City's average FHA mortgage closing costs are $6,119.

    The average rate for the prior week (2024-04-05) was 6.37% and one month ago for the week of 2024-03-08, the average rate was 6.51%.

    The average rate one year ago was 5.94%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.94%.

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

    Dodge City 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 Dodge City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Landmark National Bank 13 6.62% $7,037
    GUARANTEED RATE, INC. 11 6.46% $8,907
    QUICKEN LOANS, LLC 11 6.36% $9,881
    Sunflower Bank 8 6.29% $7,114
    Gateway First Bank 6 6.69% $7,261
    LOANDEPOT.COM, LLC 4 7.25% $8,027
    UNITED WHOLESALE MORTGAGE, LLC 3 6.41% $11,007
    FREEDOM MORTGAGE CORPORATION 3 6.58% $11,501
    Mortgage Investment Services Corporation 3 7.21% $8,320
    Mortgage Research Center, LLC 3 7.17% $6,013
    UMB Bank 2 6.56% $7,435
    Sierra Pacific Mortgage Company, Inc. 2 7.06% $12,041
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.44% $8,750
    Members Mortgage Services, L.L.C. 2 6.38% $5,772
    Wells Fargo Bank 1 6.63% $9,340
    BROKER SOLUTIONS, INC. 1 6.25% $7,343
    CHURCHILL MORTGAGE CORPORATION 1 7.25% $9,993
    LEADERONE FINANCIAL CORPORATION 1 6.38% $5,729
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $10,653
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.00% $8,158
    SENTE MORTGAGE, INC. 1 6.99% $20,110
    The Federal Savings Bank 1 7.13% $6,645
    BECKAM FUNDING CORP. 1 7.13% $11,748

    The top Dodge City FHA lender as defined by loan originations is Landmark National Bank, with 13 FHA loans originated. Their average total fees are $7,037, which is $1,870 lower than the next largest lender, GUARANTEED RATE, INC..

    The lowest fee Dodge City FHA lenders (with over 10 loans originated) are Landmark National Bank ($7,037), GUARANTEED RATE, INC. ($8,907), QUICKEN LOANS, LLC ($9,881), .

    The lowest rate Dodge City FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.36%), GUARANTEED RATE, INC. (6.46%), Landmark National Bank (6.62%), .

    Dodge City FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Dodge City (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 $141,225 (-5.8%) $159,133 (-6.3%) 0.00 69
    2018-02-01 $145,000 (-10.6%) $166,048 (-7.3%) 0.00 79
    2018-03-01 $149,900 (-7.8%) $174,922 (-3.2%) 0.00 75
    2018-04-01 $149,950 (-1.7%) $177,772 (3.7%) 0.00 83
    2018-05-01 $152,225 (-2.7%) $178,087 (1.1%) 0.00 89
    2018-06-01 $152,000 (-7.1%) $176,032 (-1.2%) 0.00 87
    2018-07-01 $163,675 (2.4%) $179,295 (0.5%) 0.00 81
    2018-08-01 $167,975 (6.8%) $179,559 (1.5%) 0.00 76
    2018-09-01 $156,789 (4.9%) $173,953 (-0.3%) 0.00 77
    2018-10-01 $154,800 (2.5%) $181,380 (4.8%) 0.00 78
    2018-11-01 $154,750 (3.9%) $189,713 (10.0%) 0.00 78
    2018-12-01 $159,900 (10.4%) $186,023 (9.1%) 0.00 78
    2019-01-01 $149,925 (6.2%) $181,867 (14.3%) 0.00 83
    2019-02-01 $154,925 (6.8%) $179,956 (8.4%) 0.00 89
    2019-03-01 $156,021 (4.1%) $175,596 (0.4%) 0.00 86
    2019-04-01 $159,675 (6.5%) $177,533 (-0.1%) 0.00 86
    2019-05-01 $161,200 (5.9%) $181,739 (2.1%) 0.00 91
    2019-06-01 $159,450 (4.9%) $179,509 (2.0%) 0.00 99
    2019-07-01 $158,000 (-3.5%) $178,835 (-0.3%) 0.00 107
    2019-08-01 $158,464 (-5.7%) $180,908 (0.8%) 0.00 104
    2019-09-01 $159,159 (1.5%) $182,413 (4.9%) 0.00 100
    2019-10-01 $159,523 (3.1%) $181,794 (0.2%) 0.00 95
    2019-11-01 $153,500 (-0.8%) $177,308 (-6.5%) 0.00 93
    2019-12-01 $151,500 (-5.3%) $181,309 (-2.5%) 0.00 81
    2020-01-01 $150,450 (0.4%) $170,363 (-6.3%) 0.00 74
    2020-02-01 $145,400 (-6.2%) $174,212 (-3.2%) 0.00 66
    2020-03-01 $159,500 (2.2%) $186,923 (6.5%) 0.00 48
    2020-04-01 $165,625 (3.7%) $190,202 (7.1%) 0.00 43
    2020-05-01 $142,450 (-11.6%) $193,546 (6.5%) 0.00 36
    2020-06-01 $158,225 (-0.8%) $207,613 (15.7%) 0.00 34
    2020-07-01 $150,475 (-4.8%) $208,502 (16.6%) 0.00 32
    2020-08-01 $139,900 (-11.7%) $237,719 (31.4%) 0.00 30
    2020-09-01 $135,950 (-14.6%) $213,489 (17.0%) 0.00 31
    2020-10-01 $156,500 (-1.9%) $217,868 (19.8%) 0.00 27
    2020-11-01 $141,225 (-8.0%) $215,267 (21.4%) 0.00 35
    2020-12-01 $143,675 (-5.2%) $214,502 (18.3%) 0.00 30
    2021-01-01 $154,250 (2.5%) $217,960 (27.9%) 0.00 35
    2021-02-01 $142,775 (-1.8%) $210,733 (21.0%) 0.00 28
    2021-03-01 $128,125 (-19.7%) $212,461 (13.7%) 0.00 25
    2021-04-01 $145,725 (-12.0%) $258,644 (36.0%) 0.00 23
    2021-05-01 $164,500 (15.5%) $325,500 (68.2%) 0.00 16
    2021-06-01 $246,950 (56.1%) $355,267 (71.1%) 0.00 14
    2021-07-01 $249,000 (65.5%) $333,700 (60.1%) 0.00 17
    2021-08-01 $187,450 (34.0%) $241,908 (1.8%) 0.00 19
    2021-09-01 $158,550 (16.6%) $237,373 (11.2%) 0.00 15
    2021-10-01 $159,900 (2.2%) $218,894 (0.5%) 0.00 16
    2021-11-01 $166,250 (17.7%) $212,997 (-1.1%) 0.00 15
    2021-12-01 $159,900 (11.3%) $215,547 (0.5%) 0.00 14
    2022-01-01 $142,500 (-7.6%) $192,700 (-11.6%) 0.00 16
    2022-02-01 $153,225 (7.3%) $198,613 (-5.8%) 0.00 17
    2022-03-01 $156,175 (21.9%) $205,187 (-3.4%) 0.00 16
    2022-04-01 $183,900 (26.2%) $185,159 (-28.4%) 0.00 20
    2022-05-01 $250,750 (52.4%) $278,668 (-14.4%) 0.00 20
    2022-06-01 $303,500 (22.9%) $289,757 (-18.4%) 0.00 25
    2022-07-01 $279,000 (12.1%) $280,326 (-16.0%) 0.00 39
    2022-08-01 $314,725 (67.9%) $308,634 (27.6%) 0.00 32
    2022-09-01 $283,000 (78.5%) $302,888 (27.6%) 0.00 37
    2022-10-01 $260,000 (62.6%) $309,762 (41.5%) 0.00 40
    2022-11-01 $282,375 (69.9%) $323,406 (51.8%) 0.00 46
    2022-12-01 $285,000 (78.2%) $317,229 (47.2%) 0.00 42
    2023-01-01 $279,100 (95.9%) $307,047 (59.3%) 0.00 38
    2023-02-01 $286,499 (87.0%) $332,579 (67.5%) 0.00 32
    2023-03-01 $312,249 (99.9%) $355,013 (73.0%) 0.00 27
    2023-04-01 $297,498 (61.8%) $324,800 (75.4%) 0.00 24
    2023-05-01 $266,950 (6.5%) $318,252 (14.2%) 0.00 23
    2023-06-01 $287,500 (-5.3%) $320,045 (10.5%) 0.00 32
    2023-07-01 $294,750 (5.7%) $335,515 (19.7%) 0.00 32
    2023-08-01 $309,000 (-1.8%) $346,752 (12.4%) 0.00 29
    2023-09-01 $287,450 (1.6%) $322,482 (6.5%) 0.00 32
    2023-10-01 $268,750 (3.4%) $307,268 (-0.8%) 0.00 37
    2023-11-01 $258,225 (-8.6%) $290,588 (-10.2%) 0.00 43
    2023-12-01 $269,950 (-5.3%) $290,271 (-8.5%) 0.00 39
    2024-01-01 $284,925 (2.1%) $314,554 (2.4%) 0.00 38
    2024-02-01 $298,725 (4.3%) $317,596 (-4.5%) 0.00 39
    2024-03-01 $300,000 (-3.9%) $311,244 (-12.3%) 0.00 45
    Dodge City's median listing price for 2024-03-01 was $300,000, a difference of $-12,249 (-3.9%) versus the prior year and $1,275 versus the prior month.

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

    Dodge City's average listing price for 2024-03-01 was $311,244, a difference of $-43,769 (-12.3%) versus the prior year and $-6,352 versus the prior month.

    For the 2024-03-01 period, Dodge City had 45 MLS listings, a difference of 6 listings (15%) versus the prior month and 18 listings (67%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Dodge City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,458 sqft
    2018-02-01 0 days 1,457 sqft
    2018-03-01 0 days 1,457 sqft
    2018-04-01 0 days 1,432 sqft
    2018-05-01 0 days 1,458 sqft
    2018-06-01 0 days 1,448 sqft
    2018-07-01 0 days 1,450 sqft
    2018-08-01 0 days 1,459 sqft
    2018-09-01 0 days 1,476 sqft
    2018-10-01 0 days 1,471 sqft
    2018-11-01 0 days 1,476 sqft
    2018-12-01 0 days 1,476 sqft
    2019-01-01 0 days 1,472 sqft
    2019-02-01 0 days 1,477 sqft
    2019-03-01 0 days 1,471 sqft
    2019-04-01 0 days 1,480 sqft
    2019-05-01 0 days 1,458 sqft
    2019-06-01 0 days 1,467 sqft
    2019-07-01 0 days 1,431 sqft
    2019-08-01 0 days 1,454 sqft
    2019-09-01 0 days 1,471 sqft
    2019-10-01 0 days 1,462 sqft
    2019-11-01 0 days 1,438 sqft
    2019-12-01 0 days 1,431 sqft
    2020-01-01 0 days 1,437 sqft
    2020-02-01 0 days 1,455 sqft
    2020-03-01 0 days 1,468 sqft
    2020-04-01 0 days 1,413 sqft
    2020-05-01 0 days 1,394 sqft
    2020-06-01 0 days 1,444 sqft
    2020-07-01 0 days 1,414 sqft
    2020-08-01 0 days 1,448 sqft
    2020-09-01 0 days 1,448 sqft
    2020-10-01 0 days 1,484 sqft
    2020-11-01 0 days 1,468 sqft
    2020-12-01 0 days 1,453 sqft
    2021-01-01 0 days 1,465 sqft
    2021-02-01 0 days 1,458 sqft
    2021-03-01 0 days 1,431 sqft
    2021-04-01 0 days 1,403 sqft
    2021-05-01 0 days 1,468 sqft
    2021-06-01 0 days 1,534 sqft
    2021-07-01 0 days 1,921 sqft
    2021-08-01 0 days 1,353 sqft
    2021-09-01 0 days 1,225 sqft
    2021-10-01 0 days 1,458 sqft
    2021-11-01 0 days 1,568 sqft
    2021-12-01 0 days 1,453 sqft
    2022-01-01 0 days 1,237 sqft
    2022-02-01 0 days 1,255 sqft
    2022-03-01 0 days 1,260 sqft
    2022-04-01 0 days 1,289 sqft
    2022-05-01 0 days 1,558 sqft
    2022-06-01 0 days 1,516 sqft
    2022-07-01 0 days 1,524 sqft
    2022-08-01 0 days 1,660 sqft
    2022-09-01 0 days 1,601 sqft
    2022-10-01 0 days 1,572 sqft
    2022-11-01 0 days 1,532 sqft
    2022-12-01 0 days 1,538 sqft
    2023-01-01 0 days 1,562 sqft
    2023-02-01 0 days 1,601 sqft
    2023-03-01 0 days 1,787 sqft
    2023-04-01 0 days 1,735 sqft
    2023-05-01 0 days 1,800 sqft
    2023-06-01 0 days 1,719 sqft
    2023-07-01 0 days 1,612 sqft
    2023-08-01 0 days 1,760 sqft
    2023-09-01 0 days 1,491 sqft
    2023-10-01 0 days 1,458 sqft
    2023-11-01 0 days 1,484 sqft
    2023-12-01 0 days 1,504 sqft
    2024-01-01 0 days 1,511 sqft
    2024-02-01 0 days 1,640 sqft
    2024-03-01 0 days 1,572 sqft
    Dodge City's median listing age (time on market) for 2024-03-01 was 0 days.

    Dodge City's median square footage for active listings during the 2024-03-01 period was 1,572 sqft. One year prior, the average listing was 1,787 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).