Dover FHA Loan Rates, Closing Costs & Stats

DOVER, DE

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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.

    Dover's 107 lenders originated 1,030 FHA loans during 2024. The total origination value was $347,920,000, with an average FHA loan value of $337,786.

    Dover FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Dover averaged 0.07% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Dover's average FHA mortgage closing costs are $9,922.

    The average rate for the prior week (2025-06-27) was 6.66% and one month ago for the week of 2025-05-30, the average rate was 6.43%.

    The average rate one year ago was 6.66%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.29%.

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

    Dover 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 Dover level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    PIKE CREEK MORTGAGE SERVICES, INC. 75 6.21% $13,289
    Keystone Funding, Inc. 67 6.13% $13,792
    QUICKEN LOANS, LLC 60 6.29% $13,640
    Meridian Bank Corporation 49 6.06% $13,784
    NVR Mortgage Finance, Inc. 45 6.00% $14,561
    GUILD MORTGAGE COMPANY 42 6.19% $12,646
    UNITED WHOLESALE MORTGAGE, LLC 39 6.09% $15,989
    TIDEWATER MORTGAGE SERVICES, INC. 32 6.46% $11,583
    MOVEMENT MORTGAGE, LLC 30 6.07% $12,295
    PENNYMAC LOAN SERVICES, LLC 24 5.96% $12,091
    FREEDOM MORTGAGE CORPORATION 23 6.42% $14,645
    DHI MORTGAGE COMPANY, LTD. 23 5.49% $10,728
    NATION ONE MORTGAGE CORPORATION 22 6.11% $13,791
    PRIMARY RESIDENTIAL MORTGAGE, INC. 20 6.51% $9,511
    CROSSCOUNTRY MORTGAGE, LLC 20 6.35% $13,255
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 20 6.37% $17,578
    CARDINAL FINANCIAL 18 6.67% $14,207
    Evolve Bank & Trust 16 6.49% $12,638
    NEWREZ LLC 14 6.26% $14,944
    MICHIGAN MUTUAL, INC. 14 6.46% $11,622
    Prosperity Home Mortgage, LLC 12 6.57% $11,045
    MDE Home Loans, LLC 12 6.26% $16,857
    ALLIED MORTGAGE GROUP, INC. 11 6.11% $17,869
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 11 6.59% $10,649
    LOANDEPOT.COM, LLC 11 6.44% $15,011
    EAGLE HOME MORTGAGE, LLC 11 6.43% $14,878
    CMG MORTGAGE, INC. 11 6.27% $12,689
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 10 6.09% $15,498
    Mr. Cooper ( Nationstar Mortgage ) 10 6.60% $15,106
    Equity Prime Mortgage LLC 9 6.83% $18,277
    HOMESIDE FINANCIAL, LLC 9 6.60% $16,021
    BROKER SOLUTIONS, INC. 9 6.68% $14,217
    VILLAGE CAPITAL MORTGAGE 7 6.53% $5,396
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.17% $11,009
    American Mortgage & Equity Consultants, Inc. 6 6.04% $17,057
    EMBRACE HOME LOANS, INC. 6 5.94% $13,946
    Paramount Residential Mortgage Group, Inc. 5 6.78% $20,220
    LOANPAL, LLC 5 5.48% $17,222
    Century Mortgage Company DBA Century Lending Company 5 6.35% $13,403
    SUN WEST MORTGAGE COMPANY, INC. 5 6.00% $12,313
    GUARANTEED RATE, INC. 4 6.50% $14,175
    EMM LOANS LLC 4 6.34% $15,777
    Flagstar Bank, FSB 4 6.28% $11,506
    Wilmington Savings Fund Society, FSB 4 6.03% $8,231
    Mortgage Research Center, LLC 4 6.59% $10,091
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.28% $17,299
    AMERISAVE MORTGAGE CORPORATION 4 5.81% $22,372
    ABSOLUTE HOME MORTGAGE CORPORATION 4 6.22% $14,710
    Acre Mortgage and Financial Inc 4 6.81% $14,009
    NFM, INC. 4 6.88% $17,327
    ZILLOW HOME LOANS, LLC 3 5.67% $13,723
    Nations Lending Corporation 3 6.42% $8,566
    GUARANTEED RATE AFFINITY, LLC 3 6.79% $12,549
    FIRST COMMUNITY MORTGAGE, INC. 3 6.96% $12,837
    Carrington Mortgage Services, LLC 3 6.25% $18,378
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.75% $10,969
    LAKEVIEW LOAN SERVICING, LLC 2 6.19% $11,291
    AMERICAN FINANCIAL NETWORK, INC. 2 6.19% $16,218
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.44% $14,637
    AmeriHome Mortgage Company, LLC 2 6.38% $10,275
    BAYSHORE MORTGAGE FUNDING, LLC 2 6.25% $16,040
    City Lending Inc. 2 7.88% $15,523
    DIRECT MORTGAGE LOANS, LLC 2 6.44% $14,433
    FIRST HOME MORTGAGE CORPORATION 2 6.19% $19,645
    Ixonia Bank 2 6.06% $12,556
    LIBERTY HOME MORTGAGE CORPORATION 2 7.06% $14,488
    MLD MORTGAGE INC. 2 6.19% $10,684
    NEW FED MORTGAGE, CORP. 2 5.75% $10,949
    Plains Commerce Bank 2 6.13% $14,651
    Shore United Bank 2 6.50% $10,128
    The Loan Store, Inc. 2 6.88% $11,796
    TruHome Solutions, LLC 2 6.31% $12,866
    BAY EQUITY LLC 1 5.25% $12,031
    JPMorgan Chase Bank 1 6.88% $8,031
    NEXERA HOLDING LLC 1 6.25% $10,208
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.25% $18,121
    NJ LENDERS CORP. 1 5.13% $13,947
    Northpointe Bank 1 6.25% $10,119
    Fulton Bank 1 6.25% $8,751
    OCEANSIDE MORTGAGE COMPANY 1 6.13% $3,650
    Old National Bank 1 5.75% $11,028
    FIRST SAVINGS MORTGAGE CORPORATION 1 8.25% $15,249
    Firstrust Savings Bank 1 6.25% $11,192
    PHH Mortgage Corporation 1 6.88% $11,236
    First Citizens Community Bank 1 6.63% $7,835
    Waterstone Mortgage Corporation 1 5.75% $12,501
    PLANET HOME LENDING, LLC 1 5.99% $5,014
    EVERETT FINANCIAL, INC. 1 6.63% $12,528
    ENVOY MORTGAGE, LTD 1 6.13% $13,447
    East Coast Capital Corp. 1 6.63% $12,222
    RELIANCE FIRST CAPITAL, LLC 1 5.75% $20,712
    Residential Mortgage Solutions, Inc. 1 6.50% $16,317
    Wells Fargo Bank 1 7.63% $5,332
    Commerce Home Mortgage, Inc. 1 6.13% $9,694
    Texana Bank 1 5.88% $25,726
    The Federal Savings Bank 1 5.38% $33,535
    Bank of America 1 6.75% $5,168
    CHURCHILL MORTGAGE CORPORATION 1 8.25% $14,634
    TOWNE MORTGAGE COMPANY 1 6.63% $16,070
    AMERICAN FINANCING CORPORATION 1 4.88% $20,622
    UNION HOME MORTGAGE CORP. 1 5.38% $16,039
    BOND STREET MORTGAGE, LLC 1 7.63% $14,438
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $10,825
    M&T Bank 1 6.00% $10,193
    Mortgage America, Inc. 1 6.63% $11,135
    MEMBER FIRST MORTGAGE, LLC 1 6.75% $5,393
    Magnolia Bank 1 6.50% $20,721

    The top Dover FHA lender as defined by loan originations is PIKE CREEK MORTGAGE SERVICES, INC., with 75 FHA loans originated. Their average total fees are $13,289, which is $503 lower than the next largest lender, Keystone Funding, Inc..

    The lowest fee Dover FHA lenders (with over 10 loans originated) are PRIMARY RESIDENTIAL MORTGAGE, INC. ($9,511), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($10,649), DHI MORTGAGE COMPANY, LTD. ($10,728), Prosperity Home Mortgage, LLC ($11,045) and TIDEWATER MORTGAGE SERVICES, INC. ($11,583).

    The lowest rate Dover FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.49%), PENNYMAC LOAN SERVICES, LLC (5.96%), NVR Mortgage Finance, Inc. (6.00%), Meridian Bank Corporation (6.06%) and MOVEMENT MORTGAGE, LLC (6.07%).

    Dover FHA Loan Limits

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

    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).