Fort Leonard Wood FHA Loan Rates, Closing Costs & Stats

Fort Leonard Wood, MO

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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.

    Fort Leonard Wood's 26 lenders originated 72 FHA loans during 2023. The total origination value was $12,690,000, with an average FHA loan value of $176,250.

    Fort Leonard Wood FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Fort Leonard Wood averaged 6.54% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

    Fort Leonard Wood's average FHA mortgage closing costs are $5,831.

    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 6.71%.

    The average rate one year ago was 6.34%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.54%.

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

    Fort Leonard Wood 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 Fort Leonard Wood level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FLAT BRANCH MORTGAGE, INC. 24 6.72% $7,608
    DAS Acquisition Company, LLC 5 6.98% $8,658
    QUICKEN LOANS, LLC 4 6.52% $7,742
    BROKER SOLUTIONS, INC. 4 6.80% $8,809
    Ixonia Bank 3 6.54% $8,353
    UNITED WHOLESALE MORTGAGE, LLC 3 6.38% $9,828
    GUARANTEED RATE, INC. 2 7.46% $11,282
    CROSSCOUNTRY MORTGAGE, LLC 2 6.66% $6,858
    FIRST INTEGRITY MORTGAGE SERVICES, INC. 2 6.31% $7,797
    FREEDOM MORTGAGE CORPORATION 2 7.25% $12,886
    LEADERONE FINANCIAL CORPORATION 2 6.44% $8,225
    Mr. Cooper ( Nationstar Mortgage ) 2 6.00% $14,698
    SUN WEST MORTGAGE COMPANY, INC. 2 7.06% $7,106
    American Mortgage Bank, LLC 1 7.50% $12,700
    GUILD MORTGAGE COMPANY 1 7.13% $6,663
    Equity Prime Mortgage LLC 1 7.38% $7,465
    Springfield First Community Bank 1 7.00% $5,149
    Mortgage Research Center, LLC 1 6.13% $3,322
    MOVEMENT MORTGAGE, LLC 1 6.63% $10,849
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.50% $4,336
    NEWREZ LLC 1 7.13% $10,096
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.50% $9,207
    Flagstar Bank, FSB 1 5.88% $8,012
    FAMILY FINANCE MORTGAGE, LLC 1 7.13% $10,096
    AMERISAVE MORTGAGE CORPORATION 1 6.13% $10,108
    GERSHMAN INVESTMENT CORP. 1 7.13% $5,203

    The top Fort Leonard Wood FHA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 24 FHA loans originated. Their average total fees are $7,608, which is $1,049 lower than the next largest lender, DAS Acquisition Company, LLC.

    The lowest fee Fort Leonard Wood FHA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. ($7,608), .

    The lowest rate Fort Leonard Wood FHA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. (6.72%), .

    Fort Leonard Wood FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    FORT LEONARD WOOD, MO PULASKI 2022 $420,680 $538,650 $651,050 $809,150
    FORT LEONARD WOOD, MO PULASKI 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fort Leonard Wood (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 $143,475 (2.6%) $146,311 (-0.2%) 0.00 371
    2018-02-01 $148,500 (6.1%) $146,625 (-0.5%) 0.00 379
    2018-03-01 $149,000 (6.5%) $147,651 (-0.5%) 0.00 371
    2018-04-01 $149,900 (7.1%) $147,529 (-0.9%) 0.00 394
    2018-05-01 $149,900 (7.1%) $149,266 (-0.8%) 0.00 399
    2018-06-01 $149,900 (7.2%) $152,083 (2.5%) 0.00 412
    2018-07-01 $153,450 (9.7%) $156,871 (6.2%) 0.00 411
    2018-08-01 $149,950 (7.2%) $157,372 (5.2%) 0.00 400
    2018-09-01 $150,000 (7.2%) $158,045 (7.9%) 0.00 411
    2018-10-01 $150,475 (7.5%) $158,924 (8.4%) 0.00 391
    2018-11-01 $147,500 (5.4%) $157,697 (7.7%) 0.00 374
    2018-12-01 $145,000 (3.6%) $156,694 (6.5%) 0.00 350
    2019-01-01 $147,450 (2.8%) $158,188 (8.1%) 0.00 315
    2019-02-01 $149,900 (0.9%) $159,223 (8.6%) 0.00 316
    2019-03-01 $151,014 (1.4%) $160,529 (8.7%) 0.00 296
    2019-04-01 $152,314 (1.6%) $161,869 (9.7%) 0.00 298
    2019-05-01 $154,675 (3.2%) $165,676 (11.0%) 0.00 311
    2019-06-01 $149,900 (0.0%) $162,495 (6.9%) 0.00 315
    2019-07-01 $149,900 (-2.3%) $161,757 (3.1%) 0.00 319
    2019-08-01 $148,536 (-0.9%) $158,940 (1.0%) 0.00 319
    2019-09-01 $146,491 (-2.3%) $155,484 (-1.6%) 0.00 311
    2019-10-01 $144,950 (-3.7%) $152,812 (-3.9%) 0.00 305
    2019-11-01 $145,750 (-1.2%) $156,032 (-1.1%) 0.00 284
    2019-12-01 $149,900 (3.4%) $159,468 (1.8%) 0.00 275
    2020-01-01 $149,825 (1.6%) $161,688 (2.2%) 0.00 256
    2020-02-01 $154,900 (3.3%) $166,338 (4.5%) 0.00 260
    2020-03-01 $154,925 (2.6%) $167,560 (4.4%) 0.00 226
    2020-04-01 $159,450 (4.7%) $168,862 (4.3%) 0.00 212
    2020-05-01 $154,400 (-0.2%) $166,364 (0.4%) 0.00 201
    2020-06-01 $153,950 (2.7%) $169,087 (4.1%) 0.00 171
    2020-07-01 $149,925 (0.0%) $162,119 (0.2%) 0.00 157
    2020-08-01 $153,450 (3.3%) $165,249 (4.0%) 0.00 150
    2020-09-01 $151,900 (3.7%) $160,606 (3.3%) 0.00 162
    2020-10-01 $139,200 (-4.0%) $150,877 (-1.3%) 0.00 151
    2020-11-01 $136,500 (-6.4%) $144,486 (-7.4%) 0.00 142
    2020-12-01 $131,450 (-12.3%) $142,093 (-10.9%) 0.00 127
    2021-01-01 $133,000 (-11.2%) $142,504 (-11.9%) 0.00 93
    2021-02-01 $130,225 (-15.9%) $138,229 (-16.9%) 0.00 76
    2021-03-01 $148,125 (-4.4%) $149,700 (-10.7%) 0.00 73
    2021-04-01 $154,950 (-2.8%) $156,604 (-7.3%) 0.00 71
    2021-05-01 $161,000 (4.3%) $184,157 (10.7%) 0.00 74
    2021-06-01 $167,350 (8.7%) $199,160 (17.8%) 0.00 94
    2021-07-01 $177,000 (18.1%) $217,349 (34.1%) 0.00 121
    2021-08-01 $179,325 (16.9%) $229,918 (39.1%) 0.00 119
    2021-09-01 $180,725 (19.0%) $230,323 (43.4%) 0.00 113
    2021-10-01 $172,500 (23.9%) $228,788 (51.6%) 0.00 103
    2021-11-01 $173,625 (27.2%) $218,735 (51.4%) 0.00 87
    2021-12-01 $175,000 (33.1%) $218,685 (53.9%) 0.00 83
    2022-01-01 $184,000 (38.4%) $237,681 (66.8%) 0.00 69
    2022-02-01 $182,250 (40.0%) $240,391 (73.9%) 0.00 72
    2022-03-01 $198,600 (34.1%) $252,701 (68.8%) 0.00 76
    2022-04-01 $204,900 (32.2%) $248,530 (58.7%) 0.00 91
    2022-05-01 $222,400 (38.1%) $255,411 (38.7%) 0.00 100
    2022-06-01 $221,350 (32.3%) $253,885 (27.5%) 0.00 118
    2022-07-01 $225,000 (27.1%) $256,869 (18.2%) 0.00 129
    2022-08-01 $219,950 (22.7%) $249,169 (8.4%) 0.00 126
    2022-09-01 $224,875 (24.4%) $255,084 (10.8%) 0.00 108
    2022-10-01 $219,900 (27.5%) $240,649 (5.2%) 0.00 116
    2022-11-01 $201,750 (16.2%) $224,845 (2.8%) 0.00 115
    2022-12-01 $209,900 (19.9%) $223,809 (2.3%) 0.00 123
    2023-01-01 $199,500 (8.4%) $217,734 (-8.4%) 0.00 104
    2023-02-01 $202,475 (11.1%) $235,702 (-2.0%) 0.00 90
    2023-03-01 $221,150 (11.4%) $254,674 (0.8%) 0.00 83
    2023-04-01 $224,950 (9.8%) $243,769 (-1.9%) 0.00 82
    2023-05-01 $239,700 (7.8%) $265,612 (4.0%) 0.00 99
    2023-06-01 $226,250 (2.2%) $255,049 (0.5%) 0.00 123
    2023-07-01 $229,900 (2.2%) $257,918 (0.4%) 0.00 126
    2023-08-01 $229,225 (4.2%) $251,358 (0.9%) 0.00 124
    2023-09-01 $229,000 (1.8%) $262,539 (2.9%) 0.00 120
    2023-10-01 $230,000 (4.6%) $262,143 (8.9%) 0.00 120
    2023-11-01 $232,850 (15.4%) $249,023 (10.8%) 0.00 117
    2023-12-01 $225,000 (7.2%) $247,193 (10.5%) 0.00 114
    2024-01-01 $225,000 (12.8%) $240,946 (10.7%) 0.00 119
    2024-02-01 $235,575 (16.4%) $249,365 (5.8%) 0.00 106
    2024-03-01 $235,000 (6.3%) $257,875 (1.3%) 0.00 115
    Fort Leonard Wood's median listing price for 2024-03-01 was $235,000, a difference of $13,850 (6.3%) versus the prior year and $-575 versus the prior month.

    Fort Leonard Wood's median listing price comes in at 0% of the national average.

    Fort Leonard Wood's average listing price for 2024-03-01 was $257,875, a difference of $3,201 (1.3%) versus the prior year and $8,510 versus the prior month.

    For the 2024-03-01 period, Fort Leonard Wood had 115 MLS listings, a difference of 9 listings (8%) versus the prior month and 32 listings (39%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fort Leonard Wood (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,891 sqft
    2018-02-01 0 days 1,892 sqft
    2018-03-01 0 days 1,856 sqft
    2018-04-01 0 days 1,856 sqft
    2018-05-01 0 days 1,791 sqft
    2018-06-01 0 days 1,836 sqft
    2018-07-01 0 days 1,948 sqft
    2018-08-01 0 days 1,964 sqft
    2018-09-01 0 days 1,964 sqft
    2018-10-01 0 days 1,601 sqft
    2018-11-01 0 days 1,598 sqft
    2018-12-01 0 days 1,586 sqft
    2019-01-01 0 days 1,578 sqft
    2019-02-01 0 days 1,600 sqft
    2019-03-01 0 days 1,745 sqft
    2019-04-01 0 days 1,919 sqft
    2019-05-01 0 days 1,956 sqft
    2019-06-01 0 days 1,887 sqft
    2019-07-01 0 days 1,861 sqft
    2019-08-01 0 days 1,836 sqft
    2019-09-01 0 days 1,810 sqft
    2019-10-01 0 days 1,798 sqft
    2019-11-01 0 days 1,800 sqft
    2019-12-01 0 days 1,800 sqft
    2020-01-01 0 days 1,820 sqft
    2020-02-01 0 days 1,847 sqft
    2020-03-01 0 days 1,829 sqft
    2020-04-01 0 days 1,803 sqft
    2020-05-01 0 days 1,800 sqft
    2020-06-01 0 days 1,789 sqft
    2020-07-01 0 days 1,769 sqft
    2020-08-01 0 days 1,681 sqft
    2020-09-01 0 days 1,658 sqft
    2020-10-01 0 days 1,580 sqft
    2020-11-01 0 days 1,575 sqft
    2020-12-01 0 days 1,531 sqft
    2021-01-01 0 days 1,505 sqft
    2021-02-01 0 days 1,500 sqft
    2021-03-01 0 days 1,511 sqft
    2021-04-01 0 days 1,544 sqft
    2021-05-01 0 days 1,576 sqft
    2021-06-01 0 days 1,625 sqft
    2021-07-01 0 days 1,696 sqft
    2021-08-01 0 days 1,800 sqft
    2021-09-01 0 days 1,800 sqft
    2021-10-01 0 days 1,666 sqft
    2021-11-01 0 days 1,611 sqft
    2021-12-01 0 days 1,615 sqft
    2022-01-01 0 days 1,700 sqft
    2022-02-01 0 days 1,712 sqft
    2022-03-01 0 days 1,720 sqft
    2022-04-01 0 days 1,960 sqft
    2022-05-01 0 days 1,842 sqft
    2022-06-01 0 days 1,905 sqft
    2022-07-01 0 days 1,976 sqft
    2022-08-01 0 days 1,976 sqft
    2022-09-01 0 days 1,997 sqft
    2022-10-01 0 days 1,939 sqft
    2022-11-01 0 days 1,749 sqft
    2022-12-01 0 days 1,798 sqft
    2023-01-01 0 days 1,736 sqft
    2023-02-01 0 days 1,751 sqft
    2023-03-01 0 days 1,858 sqft
    2023-04-01 0 days 1,900 sqft
    2023-05-01 0 days 1,874 sqft
    2023-06-01 0 days 1,719 sqft
    2023-07-01 0 days 1,725 sqft
    2023-08-01 0 days 1,771 sqft
    2023-09-01 0 days 1,778 sqft
    2023-10-01 0 days 1,793 sqft
    2023-11-01 0 days 1,705 sqft
    2023-12-01 0 days 1,638 sqft
    2024-01-01 0 days 1,586 sqft
    2024-02-01 0 days 1,679 sqft
    2024-03-01 0 days 1,718 sqft
    Fort Leonard Wood's median listing age (time on market) for 2024-03-01 was 0 days.

    Fort Leonard Wood's median square footage for active listings during the 2024-03-01 period was 1,718 sqft. One year prior, the average listing was 1,858 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).