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).