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 96 lenders originated 1,067 FHA loans during 2023. The total origination value was $209,925,000, with an average FHA loan value of $196,743.
Fort Wayne FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Fort Wayne
averaged
6.04%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Fort Wayne's average FHA mortgage closing costs are $5,662.
The average rate for the prior week (2024-09-27) was
6.23% and
one month ago for the week of 2024-08-30, the
average rate was 6.39%.
The average rate one year ago was 7.52%.
For refis of the same type during the week of 2024-10-04, the average rate
was 6.03%.
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.
The top Fort Wayne FHA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with
153 FHA loans originated. Their average total fees are
$6,970, which is $1,749
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Fort Wayne FHA lenders (with over 10 loans originated) are
Union Savings Bank ($5,481), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,710), Fifth Third Bank ($5,979), First Merchants Bank ($6,131) and TEACHERS CREDIT UNION ($6,915).
The lowest rate Fort Wayne FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.32%), PENNYMAC LOAN SERVICES, LLC (5.94%), Mr. Cooper ( Nationstar Mortgage ) (6.02%), QUICKEN LOANS, LLC (6.23%) and Fifth Third Bank (6.33%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Fort Wayne (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $174,950 (18.8%) | $245,909 (6.6%) | 0.65 | 854 |
2018-02-01 | $182,700 (15.0%) | $255,962 (5.5%) | 0.66 | 815 |
2018-03-01 | $190,272 (2.9%) | $276,830 (4.9%) | 0.67 | 715 |
2018-04-01 | $199,200 (3.1%) | $290,711 (6.7%) | 0.68 | 687 |
2018-05-01 | $193,450 (0.7%) | $284,603 (4.6%) | 0.65 | 756 |
2018-06-01 | $198,250 (5.8%) | $284,848 (10.3%) | 0.66 | 787 |
2018-07-01 | $198,950 (8.8%) | $283,526 (9.4%) | 0.66 | 895 |
2018-08-01 | $193,808 (7.7%) | $270,824 (2.1%) | 0.65 | 963 |
2018-09-01 | $193,085 (7.3%) | $267,212 (-0.2%) | 0.65 | 1,016 |
2018-10-01 | $189,900 (7.8%) | $264,584 (-1.2%) | 0.64 | 1,019 |
2018-11-01 | $185,435 (7.9%) | $260,133 (-1.4%) | 0.63 | 1,008 |
2018-12-01 | $185,000 (8.9%) | $261,931 (9.1%) | 0.64 | 878 |
2019-01-01 | $187,400 (7.1%) | $263,063 (7.0%) | 0.65 | 792 |
2019-02-01 | $208,450 (14.1%) | $282,788 (10.5%) | 0.70 | 687 |
2019-03-01 | $220,850 (16.1%) | $283,291 (2.3%) | 0.72 | 608 |
2019-04-01 | $233,700 (17.3%) | $280,713 (-3.4%) | 0.74 | 521 |
2019-05-01 | $235,549 (21.8%) | $287,069 (0.9%) | 0.74 | 538 |
2019-06-01 | $234,900 (18.5%) | $285,050 (0.1%) | 0.73 | 623 |
2019-07-01 | $229,900 (15.6%) | $284,863 (0.5%) | 0.72 | 692 |
2019-08-01 | $221,745 (14.4%) | $282,106 (4.2%) | 0.70 | 750 |
2019-09-01 | $209,513 (8.5%) | $273,777 (2.5%) | 0.67 | 836 |
2019-10-01 | $199,950 (5.3%) | $265,634 (0.4%) | 0.65 | 900 |
2019-11-01 | $199,614 (7.7%) | $259,215 (-0.4%) | 0.65 | 876 |
2019-12-01 | $205,479 (11.1%) | $261,811 (-0.1%) | 0.69 | 778 |
2020-01-01 | $208,500 (11.3%) | $262,055 (-0.4%) | 0.70 | 658 |
2020-02-01 | $236,900 (13.7%) | $293,866 (3.9%) | 0.78 | 540 |
2020-03-01 | $251,400 (13.8%) | $303,516 (7.1%) | 0.79 | 525 |
2020-04-01 | $242,038 (3.6%) | $294,461 (4.9%) | 0.76 | 542 |
2020-05-01 | $239,900 (1.9%) | $289,314 (0.8%) | 0.73 | 542 |
2020-06-01 | $239,900 (2.1%) | $293,929 (3.1%) | 0.71 | 463 |
2020-07-01 | $238,932 (3.9%) | $307,411 (7.9%) | 0.69 | 459 |
2020-08-01 | $237,800 (7.2%) | $305,151 (8.2%) | 0.68 | 455 |
2020-09-01 | $224,925 (7.4%) | $283,435 (3.5%) | 0.64 | 470 |
2020-10-01 | $219,900 (10.0%) | $288,148 (8.5%) | 0.63 | 431 |
2020-11-01 | $221,418 (10.9%) | $288,020 (11.1%) | 0.65 | 402 |
2020-12-01 | $219,725 (6.9%) | $287,222 (9.7%) | 0.65 | 335 |
2021-01-01 | $222,570 (6.8%) | $287,538 (9.7%) | 0.66 | 283 |
2021-02-01 | $231,375 (-2.3%) | $295,359 (0.5%) | 0.67 | 251 |
2021-03-01 | $237,045 (-5.7%) | $282,150 (-7.0%) | 0.67 | 234 |
2021-04-01 | $247,688 (2.3%) | $304,246 (3.3%) | 0.67 | 201 |
2021-05-01 | $249,450 (4.0%) | $307,405 (6.3%) | 0.66 | 205 |
2021-06-01 | $230,762 (-3.8%) | $305,472 (3.9%) | 0.61 | 250 |
2021-07-01 | $249,950 (4.6%) | $338,101 (10.0%) | 0.66 | 293 |
2021-08-01 | $249,900 (5.1%) | $311,285 (2.0%) | 0.67 | 364 |
2021-09-01 | $232,500 (3.4%) | $299,280 (5.6%) | 0.62 | 372 |
2021-10-01 | $224,900 (2.3%) | $286,206 (-0.7%) | 0.60 | 361 |
2021-11-01 | $231,950 (4.8%) | $294,703 (2.3%) | 0.62 | 367 |
2021-12-01 | $232,400 (5.8%) | $289,482 (0.8%) | 0.63 | 342 |
2022-01-01 | $249,900 (12.3%) | $306,411 (6.6%) | 0.68 | 251 |
2022-02-01 | $289,073 (24.9%) | $328,633 (11.3%) | 0.75 | 230 |
2022-03-01 | $261,175 (10.2%) | $307,663 (9.0%) | 0.65 | 225 |
2022-04-01 | $274,950 (11.0%) | $316,202 (3.9%) | 0.66 | 242 |
2022-05-01 | $281,725 (12.9%) | $318,391 (3.6%) | 0.64 | 318 |
2022-06-01 | $288,140 (24.9%) | $320,921 (5.1%) | 0.64 | 402 |
2022-07-01 | $289,600 (15.9%) | $332,197 (-1.8%) | 0.65 | 459 |
2022-08-01 | $299,450 (19.8%) | $337,318 (8.4%) | 0.69 | 458 |
2022-09-01 | $299,925 (29.0%) | $338,893 (13.2%) | 0.70 | 489 |
2022-10-01 | $299,000 (33.0%) | $338,341 (18.2%) | 0.70 | 564 |
2022-11-01 | $289,900 (25.0%) | $335,193 (13.7%) | 0.70 | 573 |
2022-12-01 | $289,900 (24.7%) | $329,821 (13.9%) | 0.72 | 519 |
2023-01-01 | $309,950 (24.0%) | $350,731 (14.5%) | 0.77 | 420 |
2023-02-01 | $319,600 (10.6%) | $368,481 (12.1%) | 0.77 | 375 |
2023-03-01 | $339,399 (30.0%) | $401,810 (30.6%) | 0.80 | 344 |
2023-04-01 | $343,900 (25.1%) | $392,544 (24.1%) | 0.80 | 398 |
2023-05-01 | $347,900 (23.5%) | $406,860 (27.8%) | 0.79 | 425 |
2023-06-01 | $349,900 (21.4%) | $410,903 (28.0%) | 0.79 | 481 |
2023-07-01 | $349,900 (20.8%) | $409,221 (23.2%) | 0.80 | 513 |
2023-08-01 | $329,400 (10.0%) | $389,689 (15.5%) | 0.76 | 568 |
2023-09-01 | $312,199 (4.1%) | $379,774 (12.1%) | 0.73 | 609 |
2023-10-01 | $302,450 (1.2%) | $370,164 (9.4%) | 0.71 | 690 |
2023-11-01 | $307,450 (6.1%) | $364,164 (8.6%) | 0.73 | 695 |
2023-12-01 | $299,999 (3.5%) | $359,171 (8.9%) | 0.73 | 659 |
2024-01-01 | $312,150 (0.7%) | $367,476 (4.8%) | 0.76 | 565 |
2024-02-01 | $317,225 (-0.7%) | $374,515 (1.6%) | 0.76 | 483 |
2024-03-01 | $324,900 (-4.3%) | $390,454 (-2.8%) | 0.76 | 478 |
2024-04-01 | $321,925 (-6.4%) | $394,466 (0.5%) | 0.75 | 487 |
2024-05-01 | $339,925 (-2.3%) | $417,971 (2.7%) | 0.77 | 553 |
2024-06-01 | $334,900 (-4.3%) | $404,124 (-1.7%) | 0.75 | 627 |
2024-07-01 | $313,145 (-10.5%) | $372,565 (-9.0%) | 0.72 | 719 |
2024-08-01 | $314,900 (-4.4%) | $367,494 (-5.7%) | 0.73 | 742 |
2024-09-01 | $307,900 (-1.4%) | $365,176 (-3.8%) | 0.00 | 763 |
Fort Wayne's median listing price comes in at 0% of the national average.
Fort Wayne's average listing price for 2024-09-01 was $365,176, a difference of $-14,598 (-3.8%) versus the prior year and $-2,318 versus the prior month.
For the 2024-09-01 period, Fort Wayne had 763 MLS listings, a difference of 21 listings (3%) versus the prior month and 154 listings (25%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Fort Wayne (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 66 days | 1,880 sqft |
2018-02-01 | 54 days | 1,900 sqft |
2018-03-01 | 46 days | 1,982 sqft |
2018-04-01 | 41 days | 2,031 sqft |
2018-05-01 | 30 days | 1,990 sqft |
2018-06-01 | 30 days | 2,079 sqft |
2018-07-01 | 30 days | 2,078 sqft |
2018-08-01 | 34 days | 1,987 sqft |
2018-09-01 | 38 days | 1,979 sqft |
2018-10-01 | 39 days | 1,983 sqft |
2018-11-01 | 44 days | 1,973 sqft |
2018-12-01 | 57 days | 1,939 sqft |
2019-01-01 | 62 days | 1,921 sqft |
2019-02-01 | 57 days | 1,925 sqft |
2019-03-01 | 49 days | 1,917 sqft |
2019-04-01 | 45 days | 1,925 sqft |
2019-05-01 | 30 days | 2,012 sqft |
2019-06-01 | 30 days | 2,034 sqft |
2019-07-01 | 30 days | 1,980 sqft |
2019-08-01 | 33 days | 1,961 sqft |
2019-09-01 | 37 days | 1,936 sqft |
2019-10-01 | 40 days | 1,918 sqft |
2019-11-01 | 40 days | 1,908 sqft |
2019-12-01 | 49 days | 1,905 sqft |
2020-01-01 | 58 days | 1,907 sqft |
2020-02-01 | 58 days | 1,979 sqft |
2020-03-01 | 34 days | 1,998 sqft |
2020-04-01 | 40 days | 1,938 sqft |
2020-05-01 | 40 days | 1,972 sqft |
2020-06-01 | 38 days | 1,968 sqft |
2020-07-01 | 36 days | 1,978 sqft |
2020-08-01 | 31 days | 1,968 sqft |
2020-09-01 | 30 days | 1,903 sqft |
2020-10-01 | 33 days | 1,914 sqft |
2020-11-01 | 33 days | 1,910 sqft |
2020-12-01 | 39 days | 1,874 sqft |
2021-01-01 | 39 days | 1,818 sqft |
2021-02-01 | 37 days | 1,780 sqft |
2021-03-01 | 28 days | 1,771 sqft |
2021-04-01 | 24 days | 1,837 sqft |
2021-05-01 | 14 days | 1,885 sqft |
2021-06-01 | 9 days | 1,845 sqft |
2021-07-01 | 16 days | 1,931 sqft |
2021-08-01 | 21 days | 1,876 sqft |
2021-09-01 | 24 days | 1,850 sqft |
2021-10-01 | 26 days | 1,843 sqft |
2021-11-01 | 26 days | 1,799 sqft |
2021-12-01 | 34 days | 1,725 sqft |
2022-01-01 | 40 days | 1,792 sqft |
2022-02-01 | 22 days | 1,794 sqft |
2022-03-01 | 25 days | 1,772 sqft |
2022-04-01 | 17 days | 1,802 sqft |
2022-05-01 | 15 days | 1,889 sqft |
2022-06-01 | 19 days | 1,939 sqft |
2022-07-01 | 24 days | 1,978 sqft |
2022-08-01 | 25 days | 1,930 sqft |
2022-09-01 | 24 days | 1,952 sqft |
2022-10-01 | 29 days | 1,906 sqft |
2022-11-01 | 37 days | 1,844 sqft |
2022-12-01 | 56 days | 1,832 sqft |
2023-01-01 | 68 days | 1,832 sqft |
2023-02-01 | 58 days | 1,861 sqft |
2023-03-01 | 41 days | 1,935 sqft |
2023-04-01 | 29 days | 1,880 sqft |
2023-05-01 | 30 days | 1,933 sqft |
2023-06-01 | 31 days | 2,007 sqft |
2023-07-01 | 32 days | 2,030 sqft |
2023-08-01 | 33 days | 1,992 sqft |
2023-09-01 | 37 days | 1,948 sqft |
2023-10-01 | 37 days | 1,952 sqft |
2023-11-01 | 40 days | 1,928 sqft |
2023-12-01 | 50 days | 1,910 sqft |
2024-01-01 | 57 days | 1,917 sqft |
2024-02-01 | 47 days | 1,906 sqft |
2024-03-01 | 38 days | 1,952 sqft |
2024-04-01 | 39 days | 1,921 sqft |
2024-05-01 | 28 days | 1,969 sqft |
2024-06-01 | 33 days | 1,917 sqft |
2024-07-01 | 37 days | 1,840 sqft |
2024-08-01 | 38 days | 1,871 sqft |
2024-09-01 | 0 days | 1,888 sqft |
Fort Wayne's median square footage for active listings during the 2024-09-01 period was 1,888 sqft. One year prior, the average listing was 1,948 sqft.