Fort Wayne FHA Loan Rates, Closing Costs & Stats

FORT WAYNE, IN

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 Wayne's 111 lenders originated 1,361 FHA loans during 2024. The total origination value was $296,685,000, with an average FHA loan value of $217,990.

Fort Wayne FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Fort Wayne averaged 0.42% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

Fort Wayne's average FHA mortgage closing costs are $6,035.

The average rate for the prior week (2025-06-13) was 6.6% and one month ago for the week of 2025-05-16, the average rate was 6.76%.

The average rate one year ago was 7.02%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.01%.

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

Fort Wayne 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 Wayne level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
RUOFF MORTGAGE COMPANY, INC. 187 6.78% $6,607
QUICKEN LOANS, LLC 117 6.42% $10,158
DHI MORTGAGE COMPANY, LTD. 112 5.01% $6,818
GVC MORTGAGE, INC. 53 6.82% $9,739
UNITED WHOLESALE MORTGAGE, LLC 52 6.09% $10,618
HALLMARK HOME MORTGAGE, LLC 46 6.68% $9,393
FREEDOM MORTGAGE CORPORATION 44 6.55% $10,677
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 38 6.75% $8,871
GENEVA FINANCIAL, LLC 33 6.93% $8,853
V.I.P. MORTGAGE, INC. 27 6.93% $9,756
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 26 6.84% $10,398
LOANDEPOT.COM, LLC 26 6.67% $9,512
HOMESIDE FINANCIAL, LLC 24 6.35% $8,570
STOCKTON MORTGAGE CORPORATION 24 6.74% $8,242
TEACHERS CREDIT UNION 20 5.97% $6,410
PENNYMAC LOAN SERVICES, LLC 19 6.14% $10,117
Fifth Third Bank 19 6.41% $6,863
Flagstar Bank, FSB 18 6.32% $8,425
POLARIS HOME FUNDING CORP. 17 6.60% $9,536
Carrington Mortgage Services, LLC 16 6.13% $9,813
NEWREZ LLC 16 6.19% $8,153
Nations Lending Corporation 15 6.96% $10,475
BROKER SOLUTIONS, INC. 14 6.86% $11,166
CROSSCOUNTRY MORTGAGE, LLC 14 5.95% $10,779
Union Savings Bank 14 6.27% $7,255
MOVEMENT MORTGAGE, LLC 12 6.91% $10,568
First Merchants Bank 11 6.57% $6,258
AmRes Corporation 10 6.60% $10,539
LOANPAL, LLC 10 5.76% $10,135
AMERICAN FINANCING CORPORATION 10 5.35% $11,759
VAN DYK MORTGAGE CORPORATION 10 7.21% $5,474
Mr. Cooper ( Nationstar Mortgage ) 10 6.66% $12,269
MICHIGAN MUTUAL, INC. 7 6.61% $8,208
Blue Ridge Bank 7 6.41% $5,870
JPMorgan Chase Bank 7 6.68% $5,768
PNC Bank 6 6.50% $6,476
MUTUAL OF OMAHA MORTGAGE, INC. 6 6.15% $13,401
AmeriHome Mortgage Company, LLC 6 6.46% $7,711
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.56% $12,464
CARDINAL FINANCIAL 6 6.96% $8,924
The Huntington National Bank 5 6.45% $6,610
PLANET HOME LENDING, LLC 5 6.40% $4,417
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 6.95% $6,828
Old National Bank 5 6.13% $6,591
AMERICAN FINANCIAL NETWORK, INC. 5 6.25% $13,249
PLAZA HOME MORTGAGE, INC. 5 6.45% $8,992
ZILLOW HOME LOANS, LLC 4 6.44% $9,319
Equity Prime Mortgage LLC 4 7.00% $10,364
Notre Dame Federal Credit Union Corporation 4 6.44% $7,607
UNION HOME MORTGAGE CORP. 4 6.94% $7,292
SOUTHWEST FUNDING, LP 4 7.38% $8,290
AMERISAVE MORTGAGE CORPORATION 4 6.41% $12,259
Mortgage Research Center, LLC 3 7.46% $3,532
LAKEVIEW LOAN SERVICING, LLC 3 6.58% $9,559
1st Source Bank 3 7.46% $7,122
Prosperity Home Mortgage, LLC 3 5.75% $11,276
TOWNE MORTGAGE COMPANY 2 7.00% $7,960
GUILD MORTGAGE COMPANY 2 7.00% $6,635
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.62% $7,675
NEW DAY FINANCIAL, LLC 2 7.68% $3,800
GUARANTEED RATE AFFINITY, LLC 2 6.56% $7,849
JLB CORPORATION 2 6.25% $7,129
ROYAL UNITED MORTGAGE LLC 2 6.38% $12,809
M&T Bank 2 6.63% $7,194
Mortgage Assurance Inc. 2 6.25% $8,970
GUARANTEED RATE, INC. 2 5.75% $12,411
EQUITY RESOURCES, INC. 2 6.31% $5,652
The State Bank and Trust Company 2 6.63% $6,403
SUN WEST MORTGAGE COMPANY, INC. 1 5.75% $14,633
Truist 1 5.50% $5,800
American Mortgage Bank, LLC 1 6.63% $7,733
AMERICAN FINANCIAL RESOURCES, INC. 1 7.13% $16,062
University Bank 1 4.99% $11,788
VILLAGE CAPITAL MORTGAGE 1 6.50% $7,449
ALLIED MORTGAGE GROUP, INC. 1 6.00% $8,840
Waterstone Mortgage Corporation 1 7.25% $8,106
Wells Fargo Bank 1 6.88% $7,606
First Federal Bank of the Midwest 1 6.13% $5,024
First International Bank & Trust 1 6.50% $4,110
First Federal Bank 1 5.75% $7,475
Guardian Savings Bank, A Federal Savings Bank 1 6.88% $5,997
FIRST COMMUNITY MORTGAGE, INC. 1 7.13% $7,162
FBC MORTGAGE, LLC 1 4.75% $10,853
Ixonia Bank 1 7.75% $13,055
Lakeview Community Capital, LLC 1 5.75% $8,894
LIBERTY HOME MORTGAGE CORPORATION 1 6.50% $20,958
ENVOY MORTGAGE, LTD 1 6.75% $9,593
Loan Simple, Inc. 1 6.63% $10,521
MEMBER FIRST MORTGAGE, LLC 1 6.25% $6,725
MID AMERICA MORTGAGE, INC. 1 6.88% $3,996
MJW Financial LLC 1 6.00% $5,935
MORTGAGE MASTERS OF INDIANA, INC. 1 6.63% $6,782
ENDEAVOR CAPITAL, LLC. 1 5.75% $10,550
CMG MORTGAGE, INC. 1 7.13% $9,160
CIBC Bank USA 1 6.75% $5,856
Century Mortgage Company DBA Century Lending Company 1 6.63% $13,575
NFM, INC. 1 5.63% $6,140
Northwest Bank 1 6.38% $5,418
OCEANSIDE MORTGAGE COMPANY 1 6.75% $2,105
OCMBC, INC. 1 7.75% $10,490
PHH Mortgage Corporation 1 7.13% $8,525
POINT Mortgage 1 6.50% $11,320
Bank of England 1 7.25% $6,629
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.88% $9,822
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.25% $4,047
Regions Bank 1 6.75% $4,890
RELIANCE FIRST CAPITAL, LLC 1 7.75% $9,504
SeaTrust Mortgage Company 1 6.25% $9,844
SENTE MORTGAGE, INC. 1 6.63% $10,861
Servion, Inc. 1 7.13% $7,893
SIRVA MORTGAGE, INC. 1 6.38% $7,773

The top Fort Wayne FHA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 187 FHA loans originated. Their average total fees are $6,607, which is $3,551 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Fort Wayne FHA lenders (with over 10 loans originated) are VAN DYK MORTGAGE CORPORATION ($5,474), First Merchants Bank ($6,258), TEACHERS CREDIT UNION ($6,410), RUOFF MORTGAGE COMPANY, INC. ($6,607) and DHI MORTGAGE COMPANY, LTD. ($6,818).

The lowest rate Fort Wayne FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.01%), AMERICAN FINANCING CORPORATION (5.35%), LOANPAL, LLC (5.76%), CROSSCOUNTRY MORTGAGE, LLC (5.95%) and TEACHERS CREDIT UNION (5.97%).

Fort Wayne FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
FORT WAYNE, IN ALLEN 2022 $420,680 $538,650 $651,050 $809,150
FORT WAYNE, IN WHITLEY 2022 $420,680 $538,650 $651,050 $809,150
FORT WAYNE, IN ALLEN 2023 $472,030 $604,400 $730,525 $907,900
FORT WAYNE, IN WHITLEY 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).