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 113 lenders originated 2,316 FHA loans during 2021. The total origination value was $368,940,000, with an average FHA loan value of $159,301.

Flint FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Flint averaged 6.6% for the week of 2023-03-17, compared to the national average (all FHA variants) of 6.45% for the same period.

Flint's average FHA mortgage closing costs are $5,794.

The average rate for the prior week (2023-03-10) was 6.55% and one month ago for the week of 2023-02-10, the average rate was 6.26%.

The average rate one year ago was 4.35%.

For refis of the same type during the week of 2023-03-17, the average rate was 6.47%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 368 2.78% $5,209
J. VIRGIL, INC. 243 3.33% $7,802
Preston Home Loans Inc 119 3.16% $6,213
MID AMERICA MORTGAGE, INC. 119 3.71% $4,130
UNITED WHOLESALE MORTGAGE, LLC 70 2.82% $6,917
CALIBER HOME LOANS, INC. 57 2.94% $6,071
MORTGAGE 1 INCORPORATED 54 3.34% $7,733
LAKEVIEW LOAN SERVICING, LLC 44 3.10% $4,002
FREEDOM MORTGAGE CORPORATION 43 2.84% $3,800
PENNYMAC LOAN SERVICES, LLC 40 3.21% $3,423
Mr. Cooper ( Nationstar Mortgage ) 39 3.40% $3,276
GUARANTEED RATE, INC. 38 3.54% $6,226
SUCCESS MORTGAGE PARTNERS, INC. 36 3.26% $8,306
CROSSCOUNTRY MORTGAGE, LLC 31 3.47% $7,448
TOWNE MORTGAGE COMPANY 31 2.96% $6,372
ROSS MORTGAGE CORPORATION 29 3.60% $6,559
INSPIRE HOME LOANS INC. 26 3.28% $6,846
BLG HOLDINGS, INC. 26 3.36% $6,231
Dort Financial Credit Union 24 3.58% $4,537
MICHIGAN MUTUAL, INC. 23 3.26% $6,574
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 22 3.26% $5,878
The Huntington National Bank 21 3.08% $4,987
VILLAGE CAPITAL MORTGAGE 21 2.97% $2,504
Flagstar Bank, FSB 19 3.26% $5,481
ACADEMY MORTGAGE CORPORATION 18 3.65% $7,428
BROKER SOLUTIONS, INC. 17 3.35% $7,391
Platinum Home Mortgage Corporation 16 3.03% $8,924
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 14 3.20% $6,609
NEWREZ LLC 14 2.94% $4,218
PLAZA HOME MORTGAGE, INC. 14 3.09% $5,695
Fifth Third Bank 14 3.51% $4,604
AmeriHome Mortgage Company, LLC 13 2.97% $3,779
Carrington Mortgage Services, LLC 12 3.42% $7,582
UNION HOME MORTGAGE CORP. 12 3.47% $6,669
HOME POINT FINANCIAL CORPORATION 12 2.99% $5,886
First Guaranty Mortgage Corporation 9 3.13% $5,552
Lakeview Community Capital, LLC 9 3.14% $3,957
ADVISORS CAPITAL, INC. 8 2.89% $5,608
LOANDEPOT.COM, LLC 8 3.33% $7,021
LAKE MICHIGAN CREDIT UNION 7 3.21% $5,833
Paramount Residential Mortgage Group, Inc. 7 3.57% $8,493
PLANET HOME LENDING, LLC 7 2.84% $4,103
HOMEBRIDGE FINANCIAL SERVICES, INC. 6 3.17% $7,059
SUMMIT FUNDING, INC. 6 3.79% $5,828
AMERISAVE MORTGAGE CORPORATION 6 2.98% $7,271
NATIONS DIRECT MORTGAGE, LLC 6 3.23% $8,377
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 6 3.17% $6,787
MYCUMORTGAGE, LLC 6 3.02% $4,755
DAS Acquisition Company, LLC 6 3.65% $6,265
STAUNTON FINANCIAL, INC. 5 3.38% $5,707
U.S. Bank 5 3.40% $4,405
Sunflower Bank 5 2.99% $6,835
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 3.25% $5,260
TCF National Bank 4 2.69% $5,257
Northpointe Bank 4 3.06% $5,482
Sierra Pacific Mortgage Company, Inc. 4 2.56% $8,386
EVERETT FINANCIAL, INC. 4 3.72% $4,621
JPMorgan Chase Bank 3 3.25% $5,443
PREMIA MORTGAGE, LLC 3 2.66% $5,053
RUOFF MORTGAGE COMPANY, INC. 3 3.33% $5,629
UNIVERSITY LENDING GROUP, LLC 3 3.08% $6,274
FINANCE OF AMERICA MORTGAGE LLC 3 3.00% $6,918
FIRST HERITAGE FINANCIAL, LLC 3 3.33% $7,644
First State Bank 3 3.46% $5,317
HOMESITE MORTGAGE, LLC 3 3.13% $8,467
Independent Bank 3 3.17% $5,781
ENVOY MORTGAGE, LTD 3 3.38% $4,929
Citizens Bank 3 3.13% $6,000
Nations Lending Corporation 3 3.38% $9,132
Level One Bank 2 3.13% $7,112
Bank of Ann Arbor 2 3.13% $6,264
KELLER MORTGAGE, LLC 2 3.13% $5,787
AMERICAN FINANCIAL NETWORK, INC. 2 3.31% $15,117
PNC Bank 2 2.75% $4,794
BAYSHORE MORTGAGE FUNDING, LLC 2 3.44% $7,632
Bank of England 2 3.56% $4,988
SOUTHWEST FUNDING, LP 2 3.75% $14,379
OCEANSIDE MORTGAGE COMPANY 2 2.63% $2,723
RESIDENTIAL BANCORP. 2 2.75% $6,903
Prosperity Home Mortgage, LLC 2 3.31% $7,478
Mortgage Research Center, LLC 2 3.19% $3,184
MOVEMENT MORTGAGE, LLC 2 3.44% $6,524
ZILLOW HOME LOANS, LLC 1 2.25% $9,312
AMERICAN FINANCIAL RESOURCES, INC. 1 2.75% $6,319
AMERICAN MORTGAGE SERVICE COMPANY 1 2.75% $6,299
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 2.63% $7,813
Amerifirst Financial, Inc. 1 3.63% $4,985
ARC HOME LLC 1 2.75% $4,295
BETTER MORTGAGE CORPORATION 1 3.63% $2,887
BOKF 1 3.13% $9,518
CHERRY CREEK MORTGAGE, LLC 1 2.75% $5,639
CHURCHILL MORTGAGE CORPORATION 1 3.13% $6,309
Equity Prime Mortgage LLC 1 2.63% $7,932
Fidelity Bank 1 3.63% $5,867
FINANCIAL PLUS CREDIT UNION 1 2.75% $4,711
GUILD MORTGAGE COMPANY 1 2.38% $6,063
GVC MORTGAGE, INC. 1 2.75% $7,071
HOMESIDE FINANCIAL, LLC 1 2.63% $7,081
InterContinental Capital Group, Inc 1 3.25% $9,851
LENOX FINANCIAL MORTGAGE CORPORATION 1 2.75% $7,372
LIBERTY HOME MORTGAGE CORPORATION 1 2.88% $7,370
Low VA Rates, LLC 1 2.75% $6,197
Luxury Mortgage Corp. 1 2.75% $12,721
MICHIGAN SCHOOLS AND GOVERNMENT 1 3.13% $7,844
M&T Bank 1 3.25% $8,064
NATIONS RELIABLE LENDING, LLC 1 3.75% $7,292
OCMBC, INC. 1 2.75% $6,277
Old National Bank 1 2.63% $9,054
PHH Mortgage Corporation 1 3.13% $3,645
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.99% $6,746
ROYAL UNITED MORTGAGE LLC 1 2.75% $5,673
SOVEREIGN LENDING GROUP INCORPORATED 1 2.63% $8,050
UNITED SECURITY FINANCIAL CORP 1 2.50% $5,700

The top Flint FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 368 FHA loans originated. Their average total fees are $5,209, which is $2,594 lower than the next largest lender, J. VIRGIL, INC..

The lowest fee Flint FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,504), Mr. Cooper ( Nationstar Mortgage ) ($3,276), PENNYMAC LOAN SERVICES, LLC ($3,423), AmeriHome Mortgage Company, LLC ($3,779) and FREEDOM MORTGAGE CORPORATION ($3,800).

The lowest rate Flint FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.78%), UNITED WHOLESALE MORTGAGE, LLC (2.82%), FREEDOM MORTGAGE CORPORATION (2.84%), CALIBER HOME LOANS, INC. (2.94%) and NEWREZ LLC (2.94%).

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

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%) $190,527 (15.1%) 0.52 1,036
2018-02-01 $148,575 (19.0%) $195,942 (15.9%) 0.54 971
2018-03-01 $154,900 (24.0%) $203,116 (15.3%) 0.54 946
2018-04-01 $167,450 (28.9%) $214,213 (15.3%) 0.57 956
2018-05-01 $169,150 (20.9%) $216,751 (12.5%) 0.56 1,061
2018-06-01 $168,900 (14.4%) $212,623 (8.3%) 0.56 1,123
2018-07-01 $169,450 (13.0%) $210,540 (7.6%) 0.57 1,190
2018-08-01 $165,000 (10.0%) $208,239 (7.1%) 0.55 1,345
2018-09-01 $162,500 (8.3%) $206,542 (6.5%) 0.55 1,420
2018-10-01 $159,000 (1.6%) $200,838 (1.1%) 0.54 1,415
2018-11-01 $151,450 (1.0%) $195,254 (-0.1%) 0.51 1,395
2018-12-01 $144,850 (3.5%) $188,912 (-0.4%) 0.50 1,326
2019-01-01 $144,150 (3.0%) $188,133 (-1.3%) 0.50 1,210
2019-02-01 $147,400 (-0.8%) $191,966 (-2.0%) 0.50 1,108
2019-03-01 $156,371 (1.0%) $202,154 (-0.5%) 0.51 1,060
2019-04-01 $165,000 (-1.5%) $215,848 (0.8%) 0.52 1,020
2019-05-01 $179,900 (6.4%) $227,964 (5.2%) 0.56 1,047
2019-06-01 $179,900 (6.5%) $226,315 (6.4%) 0.56 1,188
2019-07-01 $182,400 (7.6%) $228,532 (8.6%) 0.57 1,254
2019-08-01 $180,809 (9.6%) $223,033 (7.1%) 0.57 1,293
2019-09-01 $174,673 (7.5%) $213,808 (3.5%) 0.56 1,358
2019-10-01 $169,450 (6.6%) $206,302 (2.7%) 0.55 1,404
2019-11-01 $169,695 (12.1%) $210,376 (7.8%) 0.56 1,296
2019-12-01 $165,123 (14.0%) $211,987 (12.2%) 0.55 1,196
2020-01-01 $165,475 (14.8%) $214,870 (14.2%) 0.55 1,084
2020-02-01 $168,900 (14.6%) $216,181 (12.6%) 0.55 1,005
2020-03-01 $179,900 (15.1%) $225,380 (11.5%) 0.56 946
2020-04-01 $182,240 (10.5%) $225,979 (4.7%) 0.57 876
2020-05-01 $189,850 (5.5%) $233,125 (2.3%) 0.58 870
2020-06-01 $197,375 (9.7%) $250,995 (10.9%) 0.58 762
2020-07-01 $199,900 (9.6%) $261,541 (14.4%) 0.58 689
2020-08-01 $209,900 (16.1%) $274,922 (23.3%) 0.60 668
2020-09-01 $204,975 (17.4%) $268,316 (25.5%) 0.59 650
2020-10-01 $199,900 (18.0%) $260,757 (26.4%) 0.57 627
2020-11-01 $199,900 (17.8%) $262,430 (24.7%) 0.58 570
2020-12-01 $189,950 (15.0%) $260,205 (22.8%) 0.56 526
2021-01-01 $179,900 (8.7%) $258,324 (20.2%) 0.54 469
2021-02-01 $175,000 (3.6%) $271,362 (25.5%) 0.51 405
2021-03-01 $179,900 (0.0%) $261,576 (16.1%) 0.51 426
2021-04-01 $179,900 (-1.3%) $260,140 (15.1%) 0.49 465
2021-05-01 $185,000 (-2.6%) $255,205 (9.5%) 0.49 506
2021-06-01 $192,500 (-2.5%) $257,043 (2.4%) 0.51 591
2021-07-01 $199,900 (0.0%) $269,692 (3.1%) 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 (-7.5%) 0.51 765
2021-10-01 $189,900 (-5.0%) $252,047 (-3.3%) 0.51 789
2021-11-01 $176,450 (-11.7%) $245,392 (-6.5%) 0.47 734
2021-12-01 $174,900 (-7.9%) $244,484 (-6.0%) 0.47 656
2022-01-01 $172,400 (-4.2%) $241,668 (-6.5%) 0.47 598
2022-02-01 $175,950 (0.5%) $258,750 (-4.7%) 0.46 539
2022-03-01 $199,950 (11.2%) $262,465 (0.3%) 0.50 553
2022-04-01 $214,900 (19.5%) $267,037 (2.7%) 0.51 575
2022-05-01 $219,900 (18.9%) $276,075 (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%) $275,315 (2.1%) 0.49 960
2022-08-01 $219,900 (4.8%) $266,990 (1.0%) 0.51 1,026
2022-09-01 $214,900 (13.2%) $266,044 (7.2%) 0.50 1,007
2022-10-01 $209,900 (10.5%) $259,217 (2.8%) 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 (-0.2%) 0.46 947
2023-01-01 $181,925 (5.5%) $247,240 (2.3%) 0.45 821
2023-02-01 $189,338 (7.6%) $257,628 (-0.4%) 0.46 746
Flint's median listing price for 2023-02-01 was $189,338, a difference of $13,388 (7.6%) versus the prior year and $7,413 versus the prior month.

Flint's median listing price comes in at 46% of the national average.

Flint's average listing price for 2023-02-01 was $257,628, a difference of $-1,122 (-0.4%) versus the prior year and $10,388 versus the prior month.

For the 2023-02-01 period, Flint had 746 MLS listings, a difference of -75 listings (-9%) versus the prior month and 207 listings (38%) 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 83 days 1,511 sqft
2018-02-01 83 days 1,551 sqft
2018-03-01 74 days 1,566 sqft
2018-04-01 59 days 1,615 sqft
2018-05-01 48 days 1,624 sqft
2018-06-01 44 days 1,600 sqft
2018-07-01 47 days 1,608 sqft
2018-08-01 47 days 1,605 sqft
2018-09-01 51 days 1,600 sqft
2018-10-01 56 days 1,586 sqft
2018-11-01 60 days 1,550 sqft
2018-12-01 69 days 1,500 sqft
2019-01-01 80 days 1,498 sqft
2019-02-01 81 days 1,500 sqft
2019-03-01 65 days 1,540 sqft
2019-04-01 53 days 1,576 sqft
2019-05-01 49 days 1,601 sqft
2019-06-01 44 days 1,614 sqft
2019-07-01 46 days 1,628 sqft
2019-08-01 51 days 1,614 sqft
2019-09-01 54 days 1,594 sqft
2019-10-01 56 days 1,570 sqft
2019-11-01 64 days 1,561 sqft
2019-12-01 71 days 1,578 sqft
2020-01-01 86 days 1,599 sqft
2020-02-01 80 days 1,600 sqft
2020-03-01 62 days 1,620 sqft
2020-04-01 74 days 1,623 sqft
2020-05-01 80 days 1,618 sqft
2020-06-01 53 days 1,676 sqft
2020-07-01 48 days 1,708 sqft
2020-08-01 40 days 1,766 sqft
2020-09-01 39 days 1,700 sqft
2020-10-01 37 days 1,691 sqft
2020-11-01 46 days 1,692 sqft
2020-12-01 54 days 1,603 sqft
2021-01-01 52 days 1,521 sqft
2021-02-01 48 days 1,457 sqft
2021-03-01 37 days 1,465 sqft
2021-04-01 32 days 1,462 sqft
2021-05-01 32 days 1,481 sqft
2021-06-01 31 days 1,500 sqft
2021-07-01 31 days 1,576 sqft
2021-08-01 32 days 1,494 sqft
2021-09-01 37 days 1,448 sqft
2021-10-01 39 days 1,478 sqft
2021-11-01 49 days 1,419 sqft
2021-12-01 59 days 1,422 sqft
2022-01-01 67 days 1,418 sqft
2022-02-01 50 days 1,434 sqft
2022-03-01 35 days 1,451 sqft
2022-04-01 37 days 1,451 sqft
2022-05-01 37 days 1,495 sqft
2022-06-01 34 days 1,537 sqft
2022-07-01 32 days 1,536 sqft
2022-08-01 41 days 1,546 sqft
2022-09-01 50 days 1,544 sqft
2022-10-01 51 days 1,516 sqft
2022-11-01 52 days 1,469 sqft
2022-12-01 64 days 1,420 sqft
2023-01-01 74 days 1,400 sqft
2023-02-01 76 days 1,428 sqft
Flint's median listing age (time on market) for 2023-02-01 was 76 days. This is 51% longer than the same period one year ago.

Flint's median square footage for active listings during the 2023-02-01 period was 1,428 sqft. One year prior, the average listing was 1,434 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).