Flint FHA Loan Rates, Closing Costs & Stats

FLINT, MI

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.

Flint's 94 lenders originated 1,302 FHA loans during 2023. The total origination value was $222,280,000, with an average FHA loan value of $170,722.

Flint FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Flint averaged 6.66% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Flint's average FHA mortgage closing costs are $6,324.

The average rate for the prior week (2024-04-05) was 6.99% and one month ago for the week of 2024-03-08, the average rate was 6.92%.

The average rate one year ago was 6.56%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.9%.

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

Flint 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 Flint level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 166 6.30% $8,480
Preston Home Loans Inc 132 6.80% $7,744
UNITED WHOLESALE MORTGAGE, LLC 119 6.45% $9,053
J. VIRGIL, INC. 93 6.66% $7,741
SUCCESS MORTGAGE PARTNERS, INC. 40 6.88% $8,658
DAS Acquisition Company, LLC 36 7.03% $8,085
MORTGAGE 1 INCORPORATED 34 6.77% $9,479
CALIBER HOME LOANS, INC. 28 6.42% $7,608
ROSS MORTGAGE CORPORATION 24 6.67% $7,127
INSPIRE HOME LOANS INC. 24 5.83% $8,559
The Huntington National Bank 22 6.86% $6,246
BLG HOLDINGS, INC. 22 7.28% $10,184
First State Bank 22 6.89% $8,179
CROSSCOUNTRY MORTGAGE, LLC 20 6.89% $9,511
PENNYMAC LOAN SERVICES, LLC 20 6.40% $8,153
Dort Financial Credit Union 18 6.65% $5,332
NEWREZ LLC 18 6.99% $7,696
TOWNE MORTGAGE COMPANY 17 6.43% $8,877
MUTUAL OF OMAHA MORTGAGE, INC. 16 7.03% $10,178
LEGEND LENDING CORPORATION 15 6.89% $9,659
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 15 7.04% $8,607
Flagstar Bank, FSB 14 6.85% $7,090
MID AMERICA MORTGAGE, INC. 12 6.89% $4,782
LOANDEPOT.COM, LLC 11 6.38% $12,490
FREEDOM MORTGAGE CORPORATION 9 6.75% $11,368
Mr. Cooper ( Nationstar Mortgage ) 9 6.33% $10,507
Carrington Mortgage Services, LLC 9 6.32% $10,169
Equity Prime Mortgage LLC 9 6.97% $9,938
JPMorgan Chase Bank 8 6.91% $3,039
Fifth Third Bank 8 6.63% $4,490
MICHIGAN MUTUAL, INC. 8 6.41% $9,326
PLAZA HOME MORTGAGE, INC. 8 6.25% $7,731
GUARANTEED RATE, INC. 7 6.64% $8,395
ARK-LA-TEX FINANCIAL SERVICES, LLC. 7 6.64% $6,737
BROKER SOLUTIONS, INC. 7 6.88% $8,742
STAUNTON FINANCIAL, INC. 7 6.70% $7,157
Prosperity Home Mortgage, LLC 6 6.46% $7,074
LAKE MICHIGAN CREDIT UNION 6 6.67% $6,371
FINANCIAL PLUS CREDIT UNION 6 5.92% $6,714
FIRST COMMUNITY MORTGAGE, INC. 5 7.05% $8,088
The Dart Bank 5 7.08% $7,868
MYCUMORTGAGE, LLC 5 7.08% $5,492
Platinum Home Mortgage Corporation 5 6.05% $9,346
ACADEMY MORTGAGE CORPORATION 5 6.70% $9,267
EVERETT FINANCIAL, INC. 5 7.25% $7,550
CARDINAL FINANCIAL 5 6.27% $9,043
UNION HOME MORTGAGE CORP. 4 6.91% $10,109
AMERISAVE MORTGAGE CORPORATION 4 6.56% $10,655
TOP FLITE FINANCIAL, INC. 3 6.83% $12,321
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 6.33% $13,140
MOVEMENT MORTGAGE, LLC 3 7.13% $8,546
VILLAGE CAPITAL MORTGAGE 3 5.21% $12,140
AmeriHome Mortgage Company, LLC 3 6.29% $8,821
ZILLOW HOME LOANS, LLC 3 6.33% $10,392
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.96% $11,678
AMERICAN FINANCIAL NETWORK, INC. 3 6.33% $11,295
Sunflower Bank 2 7.06% $9,782
AMERICAN FINANCIAL RESOURCES, INC. 2 7.25% $5,036
First Merchants Bank 2 6.06% $5,971
LAKEVIEW LOAN SERVICING, LLC 2 6.00% $13,109
Mortgage Research Center, LLC 2 7.13% $6,480
NATIONWIDE MORTGAGE BANKERS, INC. 2 5.94% $13,708
Paramount Residential Mortgage Group, Inc. 2 7.31% $15,089
PLANET HOME LENDING, LLC 2 6.56% $5,509
PNC Bank 2 6.63% $5,588
RUOFF MORTGAGE COMPANY, INC. 2 5.81% $6,078
University Bank 2 7.13% $10,904
Wells Fargo Bank 2 6.63% $6,867
BM Real Estate Services, Inc. 1 7.63% $13,722
NFM, INC. 1 7.38% $6,955
NATIONS DIRECT MORTGAGE, LLC 1 6.75% $10,629
Barrington Bank & Trust Company, N.A. 1 7.25% $6,689
M&T Bank 1 6.00% $6,262
MICHIGAN FIRST CREDIT UNION 1 6.00% $7,015
LIBERTY HOME MORTGAGE CORPORATION 1 7.63% $12,674
INTERCAP LENDING INC. 1 6.63% $8,732
Bell Bank 1 7.25% $8,185
SOVEREIGN LENDING GROUP INCORPORATED 1 7.25% $17,271
HOMESTEAD FUNDING CORP. 1 7.13% $5,858
STOCKTON MORTGAGE CORPORATION 1 7.25% $5,291
GSF Mortgage Corporation 1 5.88% $5,197
Summit Mortgage Corporation 1 6.75% $4,484
GENEVA FINANCIAL, LLC 1 7.25% $9,403
SUN WEST MORTGAGE COMPANY, INC. 1 6.59% $11,547
FIRST CENTENNIAL MORTGAGE CORPORATION 1 7.00% $8,114
Credence Funding Corporation 1 5.75% $4,618
Comerica Bank 1 6.75% $4,709
Citizens Bank 1 5.88% $12,916
Old National Bank 1 5.88% $7,580
Century Mortgage Company DBA Century Lending Company 1 6.13% $11,003
OCEANSIDE MORTGAGE COMPANY 1 5.63% $6,348
PENTAGON FEDERAL CREDIT UNION 1 5.63% $6,034
PHH Mortgage Corporation 1 5.88% $3,553
Plains Commerce Bank 1 6.63% $7,072

The top Flint FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 166 FHA loans originated. Their average total fees are $8,480, which is $736 higher than the next largest lender, Preston Home Loans Inc.

The lowest fee Flint FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($4,782), Dort Financial Credit Union ($5,332), The Huntington National Bank ($6,246), Flagstar Bank, FSB ($7,090) and ROSS MORTGAGE CORPORATION ($7,127).

The lowest rate Flint FHA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. (5.83%), QUICKEN LOANS, LLC (6.30%), LOANDEPOT.COM, LLC (6.38%), PENNYMAC LOAN SERVICES, LLC (6.40%) and CALIBER HOME LOANS, INC. (6.42%).

Flint FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Flint (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 $139,900 (16.7%) $192,303 (16.1%) 0.52 1,039
2018-02-01 $148,950 (19.3%) $197,785 (16.8%) 0.54 973
2018-03-01 $155,000 (24.1%) $204,875 (16.2%) 0.54 948
2018-04-01 $167,675 (29.1%) $215,845 (16.1%) 0.57 959
2018-05-01 $169,425 (21.1%) $218,269 (13.3%) 0.57 1,064
2018-06-01 $169,900 (15.0%) $214,097 (8.7%) 0.57 1,126
2018-07-01 $169,450 (13.0%) $211,966 (7.8%) 0.57 1,192
2018-08-01 $166,000 (10.7%) $209,472 (7.4%) 0.56 1,348
2018-09-01 $162,500 (8.4%) $207,226 (6.5%) 0.55 1,422
2018-10-01 $159,000 (1.6%) $201,804 (1.2%) 0.54 1,417
2018-11-01 $151,500 (1.1%) $196,307 (0.0%) 0.51 1,397
2018-12-01 $144,900 (3.6%) $190,240 (-0.4%) 0.50 1,329
2019-01-01 $144,600 (3.4%) $189,537 (-1.4%) 0.50 1,214
2019-02-01 $149,450 (0.3%) $193,158 (-2.3%) 0.50 1,109
2019-03-01 $156,393 (0.9%) $202,812 (-1.0%) 0.51 1,059
2019-04-01 $165,000 (-1.6%) $215,878 (0.0%) 0.52 1,020
2019-05-01 $179,900 (6.2%) $227,672 (4.3%) 0.56 1,046
2019-06-01 $179,900 (5.9%) $225,857 (5.5%) 0.56 1,186
2019-07-01 $182,298 (7.6%) $228,108 (7.6%) 0.57 1,252
2019-08-01 $180,809 (8.9%) $222,769 (6.4%) 0.57 1,292
2019-09-01 $174,673 (7.5%) $213,785 (3.2%) 0.56 1,357
2019-10-01 $169,573 (6.7%) $206,466 (2.3%) 0.55 1,405
2019-11-01 $169,900 (12.2%) $210,543 (7.3%) 0.56 1,297
2019-12-01 $165,370 (14.1%) $212,347 (11.6%) 0.55 1,198
2020-01-01 $165,947 (14.8%) $215,236 (13.6%) 0.55 1,086
2020-02-01 $169,000 (13.1%) $216,576 (12.1%) 0.55 1,006
2020-03-01 $179,900 (15.0%) $225,904 (11.4%) 0.56 946
2020-04-01 $182,870 (10.8%) $226,481 (4.9%) 0.57 877
2020-05-01 $189,850 (5.5%) $233,420 (2.5%) 0.58 871
2020-06-01 $197,375 (9.7%) $250,995 (11.1%) 0.58 762
2020-07-01 $199,900 (9.7%) $261,878 (14.8%) 0.58 690
2020-08-01 $209,900 (16.1%) $275,079 (23.5%) 0.60 668
2020-09-01 $204,988 (17.4%) $268,552 (25.6%) 0.59 650
2020-10-01 $199,900 (17.9%) $260,928 (26.4%) 0.57 626
2020-11-01 $199,900 (17.7%) $262,430 (24.6%) 0.58 570
2020-12-01 $189,950 (14.9%) $260,205 (22.5%) 0.56 526
2021-01-01 $179,900 (8.4%) $258,080 (19.9%) 0.54 470
2021-02-01 $175,000 (3.6%) $271,029 (25.1%) 0.51 406
2021-03-01 $179,900 (0.0%) $261,269 (15.7%) 0.51 427
2021-04-01 $179,900 (-1.6%) $260,140 (14.9%) 0.49 465
2021-05-01 $185,000 (-2.6%) $255,205 (9.3%) 0.49 506
2021-06-01 $192,500 (-2.5%) $257,043 (2.4%) 0.51 591
2021-07-01 $199,900 (0.0%) $269,783 (3.0%) 0.53 651
2021-08-01 $209,925 (0.0%) $264,262 (-3.9%) 0.56 735
2021-09-01 $189,800 (-7.4%) $248,279 (-7.6%) 0.51 765
2021-10-01 $189,900 (-5.0%) $252,047 (-3.4%) 0.51 789
2021-11-01 $176,450 (-11.7%) $245,392 (-6.5%) 0.47 734
2021-12-01 $174,900 (-7.9%) $244,614 (-6.0%) 0.47 656
2022-01-01 $172,400 (-4.2%) $241,668 (-6.4%) 0.47 597
2022-02-01 $175,963 (0.6%) $258,762 (-4.5%) 0.46 539
2022-03-01 $199,950 (11.2%) $262,465 (0.5%) 0.50 553
2022-04-01 $214,950 (19.5%) $267,178 (2.7%) 0.51 575
2022-05-01 $219,900 (18.9%) $276,155 (8.2%) 0.50 645
2022-06-01 $234,975 (22.1%) $287,652 (11.9%) 0.52 726
2022-07-01 $220,000 (10.1%) $275,275 (2.0%) 0.50 959
2022-08-01 $219,900 (4.8%) $266,990 (1.0%) 0.51 1,025
2022-09-01 $214,900 (13.2%) $266,044 (7.2%) 0.50 1,007
2022-10-01 $209,900 (10.5%) $259,385 (2.9%) 0.49 1,046
2022-11-01 $198,475 (12.5%) $251,224 (2.4%) 0.48 1,049
2022-12-01 $185,000 (5.8%) $244,001 (-0.3%) 0.46 947
2023-01-01 $181,950 (5.5%) $247,261 (2.3%) 0.45 821
2023-02-01 $189,338 (7.6%) $257,628 (-0.4%) 0.46 746
2023-03-01 $181,975 (-9.0%) $253,016 (-3.6%) 0.43 662
2023-04-01 $184,250 (-14.3%) $258,197 (-3.4%) 0.43 614
2023-05-01 $184,925 (-15.9%) $259,006 (-6.2%) 0.42 638
2023-06-01 $179,450 (-23.6%) $261,576 (-9.1%) 0.40 649
2023-07-01 $207,500 (-5.7%) $268,610 (-2.4%) 0.47 654
2023-08-01 $209,925 (-4.5%) $260,099 (-2.6%) 0.48 742
2023-09-01 $199,900 (-7.0%) $254,818 (-4.2%) 0.47 794
2023-10-01 $192,000 (-8.5%) $252,667 (-2.6%) 0.45 829
2023-11-01 $199,900 (0.7%) $254,377 (1.3%) 0.48 827
2023-12-01 $198,950 (7.5%) $249,611 (2.3%) 0.49 804
2024-01-01 $192,425 (5.8%) $251,190 (1.6%) 0.47 711
2024-02-01 $194,900 (2.9%) $255,432 (-0.9%) 0.47 648
2024-03-01 $189,997 (4.4%) $253,860 (0.3%) 0.45 635
Flint's median listing price for 2024-03-01 was $189,997, a difference of $8,022 (4.4%) versus the prior year and $-4,903 versus the prior month.

Flint's median listing price comes in at 45% of the national average.

Flint's average listing price for 2024-03-01 was $253,860, a difference of $844 (0.3%) versus the prior year and $-1,572 versus the prior month.

For the 2024-03-01 period, Flint had 635 MLS listings, a difference of -13 listings (-2%) versus the prior month and -27 listings (-4%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Flint (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 74 days 1,511 sqft
2018-02-01 68 days 1,551 sqft
2018-03-01 61 days 1,568 sqft
2018-04-01 48 days 1,615 sqft
2018-05-01 39 days 1,624 sqft
2018-06-01 38 days 1,602 sqft
2018-07-01 43 days 1,609 sqft
2018-08-01 40 days 1,607 sqft
2018-09-01 47 days 1,600 sqft
2018-10-01 51 days 1,587 sqft
2018-11-01 55 days 1,551 sqft
2018-12-01 62 days 1,504 sqft
2019-01-01 73 days 1,500 sqft
2019-02-01 69 days 1,500 sqft
2019-03-01 56 days 1,541 sqft
2019-04-01 46 days 1,576 sqft
2019-05-01 43 days 1,600 sqft
2019-06-01 38 days 1,614 sqft
2019-07-01 43 days 1,627 sqft
2019-08-01 46 days 1,613 sqft
2019-09-01 49 days 1,594 sqft
2019-10-01 51 days 1,570 sqft
2019-11-01 59 days 1,562 sqft
2019-12-01 67 days 1,580 sqft
2020-01-01 79 days 1,600 sqft
2020-02-01 73 days 1,600 sqft
2020-03-01 53 days 1,621 sqft
2020-04-01 67 days 1,623 sqft
2020-05-01 72 days 1,619 sqft
2020-06-01 40 days 1,676 sqft
2020-07-01 39 days 1,706 sqft
2020-08-01 33 days 1,766 sqft
2020-09-01 32 days 1,700 sqft
2020-10-01 31 days 1,691 sqft
2020-11-01 39 days 1,692 sqft
2020-12-01 45 days 1,603 sqft
2021-01-01 40 days 1,520 sqft
2021-02-01 34 days 1,455 sqft
2021-03-01 30 days 1,462 sqft
2021-04-01 25 days 1,462 sqft
2021-05-01 26 days 1,481 sqft
2021-06-01 26 days 1,500 sqft
2021-07-01 25 days 1,576 sqft
2021-08-01 29 days 1,494 sqft
2021-09-01 33 days 1,448 sqft
2021-10-01 36 days 1,478 sqft
2021-11-01 45 days 1,419 sqft
2021-12-01 51 days 1,422 sqft
2022-01-01 52 days 1,418 sqft
2022-02-01 41 days 1,435 sqft
2022-03-01 29 days 1,451 sqft
2022-04-01 32 days 1,451 sqft
2022-05-01 31 days 1,495 sqft
2022-06-01 31 days 1,537 sqft
2022-07-01 29 days 1,536 sqft
2022-08-01 39 days 1,546 sqft
2022-09-01 46 days 1,544 sqft
2022-10-01 45 days 1,516 sqft
2022-11-01 48 days 1,469 sqft
2022-12-01 59 days 1,420 sqft
2023-01-01 68 days 1,400 sqft
2023-02-01 65 days 1,428 sqft
2023-03-01 50 days 1,395 sqft
2023-04-01 40 days 1,400 sqft
2023-05-01 31 days 1,437 sqft
2023-06-01 33 days 1,406 sqft
2023-07-01 37 days 1,450 sqft
2023-08-01 35 days 1,450 sqft
2023-09-01 44 days 1,450 sqft
2023-10-01 43 days 1,425 sqft
2023-11-01 45 days 1,424 sqft
2023-12-01 53 days 1,376 sqft
2024-01-01 61 days 1,343 sqft
2024-02-01 59 days 1,341 sqft
2024-03-01 53 days 1,347 sqft
Flint's median listing age (time on market) for 2024-03-01 was 53 days. This is 5% longer than the same period one year ago.

Flint's median square footage for active listings during the 2024-03-01 period was 1,347 sqft. One year prior, the average listing was 1,395 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).