Fremont FHA Loan Rates, Closing Costs & Stats

Fremont, OH

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.

Fremont's 46 lenders originated 146 FHA loans during 2022. The total origination value was $19,620,000, with an average FHA loan value of $134,384.

Fremont FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Fremont averaged -0.11% for the week of 2024-02-23, compared to the national average (all FHA variants) of 0% for the same period.

Fremont's average FHA mortgage closing costs are $5,780.

The average rate for the prior week (2024-02-16) was 6.73% and one month ago for the week of 2024-01-19, the average rate was 6.67%.

The average rate one year ago was 6.43%.

For refis of the same type during the week of 2024-02-23, the average rate was -0.2%.

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

Fremont 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 Fremont level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 26 5.02% $7,111
LOANDEPOT.COM, LLC 16 5.36% $6,684
UNION HOME MORTGAGE CORP. 8 5.69% $7,080
The Huntington National Bank 8 4.94% $6,189
CROSSCOUNTRY MORTGAGE, LLC 7 5.98% $8,654
Fifth Third Bank 7 4.91% $4,512
YOUR HOME FINANCIAL LLC 5 5.70% $6,207
Mr. Cooper ( Nationstar Mortgage ) 3 4.92% $5,635
MID AMERICA MORTGAGE, INC. 3 6.33% $6,304
UNITED WHOLESALE MORTGAGE, LLC 3 6.32% $8,676
RUOFF MORTGAGE COMPANY, INC. 3 6.13% $6,375
AMERISAVE MORTGAGE CORPORATION 3 4.67% $9,570
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 5.58% $4,371
CALIBER HOME LOANS, INC. 2 4.44% $9,730
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 4.88% $6,570
Carrington Mortgage Services, LLC 2 6.31% $5,651
Civista Bank 2 5.25% $4,835
RELIANCE FIRST CAPITAL, LLC 2 3.75% $10,069
Servion, Inc. 2 5.38% $8,322
KeyBank 1 5.13% $4,729
LIBERTY HOME MORTGAGE CORPORATION 1 5.25% $2,503
GVC MORTGAGE, INC. 1 6.13% $7,483
LOANPAL, LLC 1 4.50% $9,522
Magnolia Bank 1 4.75% $8,734
MEMBER FIRST MORTGAGE, LLC 1 5.50% $4,286
Flagstar Bank, FSB 1 3.50% $12,329
EQUITY RESOURCES, INC. 1 4.25% $5,678
M&T Bank 1 5.38% $10,882
NATIONS DIRECT MORTGAGE, LLC 1 5.63% $7,329
Nations Lending Corporation 1 7.25% $7,590
NATIONS RELIABLE LENDING, LLC 1 4.25% $9,010
NETWORK CAPITAL FUNDING CORPORATION 1 5.50% $7,586
PLAZA HOME MORTGAGE, INC. 1 5.00% $5,699
ENDEAVOR CAPITAL, LLC. 1 5.99% $8,333
Victorian Finance, LLC 1 4.25% $7,874
Citizens Bank 1 5.25% $7,005
AMERICAN FINANCING CORPORATION 1 3.75% $6,442
SIRVA MORTGAGE, INC. 1 5.13% $9,319
SUCCESS MORTGAGE PARTNERS, INC. 1 6.50% $13,443
Texana Bank 1 5.50% $9,577
CARDINAL FINANCIAL 1 6.75% $5,482
TOP FLITE FINANCIAL, INC. 1 6.63% $9,989
AMERICAN FINANCIAL RESOURCES, INC. 1 3.00% $4,569
AMERIFIRST FINANCIAL CORPORATION 1 5.50% $5,642
Hometown Equity Mortgage, LLC 1 5.50% $10,062
Hometown Lenders, Inc. 1 7.13% $6,702

The top Fremont FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 26 FHA loans originated. Their average total fees are $7,111, which is $427 higher than the next largest lender, LOANDEPOT.COM, LLC.

The lowest fee Fremont FHA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC ($6,684), QUICKEN LOANS, LLC ($7,111), .

The lowest rate Fremont FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.02%), LOANDEPOT.COM, LLC (5.36%), .

Fremont FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
FREMONT, OH SANDUSKY 2022 $420,680 $538,650 $651,050 $809,150
FREMONT, OH SANDUSKY 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Fremont (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 $109,425 (28.9%) $156,475 (40.1%) 0.00 136
2018-02-01 $114,900 (27.8%) $155,633 (27.1%) 0.00 125
2018-03-01 $110,544 (25.6%) $162,824 (32.5%) 0.00 112
2018-04-01 $116,750 (24.9%) $163,625 (24.3%) 0.00 117
2018-05-01 $125,950 (29.7%) $168,388 (22.1%) 0.00 120
2018-06-01 $129,900 (23.8%) $179,830 (21.4%) 0.00 119
2018-07-01 $132,725 (14.2%) $180,843 (12.7%) 0.00 137
2018-08-01 $132,725 (11.8%) $179,957 (13.6%) 0.00 146
2018-09-01 $126,900 (6.7%) $170,952 (9.4%) 0.00 142
2018-10-01 $117,450 (-1.3%) $164,960 (4.0%) 0.00 138
2018-11-01 $107,167 (-9.0%) $157,934 (2.9%) 0.00 137
2018-12-01 $100,500 (-7.8%) $149,494 (-1.9%) 0.00 128
2019-01-01 $98,450 (-10.0%) $146,927 (-5.9%) 0.00 120
2019-02-01 $104,625 (-8.9%) $147,647 (-4.8%) 0.00 115
2019-03-01 $114,857 (3.9%) $155,165 (-4.1%) 0.00 111
2019-04-01 $125,932 (7.9%) $162,682 (-0.4%) 0.00 110
2019-05-01 $129,175 (2.6%) $167,082 (-0.8%) 0.00 119
2019-06-01 $127,000 (-2.2%) $161,094 (-10.0%) 0.00 132
2019-07-01 $125,175 (-5.7%) $159,502 (-11.4%) 0.00 125
2019-08-01 $124,927 (-5.9%) $157,093 (-12.3%) 0.00 124
2019-09-01 $124,968 (-1.5%) $153,749 (-9.5%) 0.00 133
2019-10-01 $123,720 (5.3%) $151,520 (-7.5%) 0.00 139
2019-11-01 $128,450 (19.9%) $148,089 (-5.8%) 0.00 138
2019-12-01 $129,425 (28.8%) $142,618 (-4.1%) 0.00 118
2020-01-01 $131,925 (34.0%) $141,399 (-2.9%) 0.00 102
2020-02-01 $98,000 (-6.3%) $126,823 (-14.0%) 0.00 105
2020-03-01 $103,850 (-9.6%) $131,096 (-15.5%) 0.00 98
2020-04-01 $108,700 (-13.7%) $127,369 (-21.7%) 0.00 93
2020-05-01 $109,900 (-14.9%) $130,173 (-22.1%) 0.00 92
2020-06-01 $124,975 (-1.6%) $166,462 (1.1%) 0.00 59
2020-07-01 $140,500 (12.2%) $174,382 (6.9%) 0.00 53
2020-08-01 $149,700 (19.8%) $167,757 (3.7%) 0.00 64
2020-09-01 $119,950 (-4.0%) $145,707 (-7.9%) 0.00 80
2020-10-01 $124,900 (1.0%) $148,195 (-4.5%) 0.00 79
2020-11-01 $119,000 (-7.4%) $147,545 (-2.7%) 0.00 75
2020-12-01 $124,950 (-3.5%) $145,868 (-1.0%) 0.00 67
2021-01-01 $120,000 (-9.0%) $140,944 (-4.2%) 0.00 55
2021-02-01 $129,925 (32.6%) $145,239 (9.5%) 0.00 46
2021-03-01 $120,750 (16.3%) $145,957 (8.1%) 0.00 40
2021-04-01 $134,050 (23.3%) $153,066 (16.3%) 0.00 31
2021-05-01 $149,500 (36.0%) $164,229 (22.5%) 0.00 30
2021-06-01 $172,675 (38.2%) $178,415 (7.8%) 0.00 37
2021-07-01 $175,000 (24.6%) $189,146 (6.0%) 0.00 51
2021-08-01 $199,750 (33.4%) $200,087 (19.6%) 0.00 62
2021-09-01 $172,975 (44.2%) $193,345 (32.2%) 0.00 66
2021-10-01 $172,400 (38.0%) $189,011 (25.4%) 0.00 70
2021-11-01 $162,450 (36.5%) $181,587 (20.5%) 0.00 66
2021-12-01 $136,150 (9.0%) $171,606 (14.1%) 0.00 49
2022-01-01 $155,450 (29.5%) $184,903 (31.3%) 0.00 40
2022-02-01 $167,400 (28.8%) $192,261 (32.7%) 0.00 37
2022-03-01 $147,000 (21.7%) $173,462 (17.8%) 0.00 42
2022-04-01 $145,000 (8.2%) $175,010 (13.2%) 0.00 36
2022-05-01 $164,425 (10.0%) $194,109 (20.7%) 0.00 45
2022-06-01 $156,800 (-9.2%) $183,968 (4.0%) 0.00 54
2022-07-01 $149,900 (-14.3%) $182,584 (0.4%) 0.00 66
2022-08-01 $141,650 (-29.1%) $173,322 (-11.9%) 0.00 68
2022-09-01 $157,000 (-9.2%) $201,362 (6.9%) 0.00 62
2022-10-01 $149,950 (-13.0%) $195,171 (6.8%) 0.00 66
2022-11-01 $162,850 (0.3%) $179,391 (2.2%) 0.00 50
2022-12-01 $154,950 (13.8%) $171,682 (5.1%) 0.00 52
2023-01-01 $143,225 (-7.9%) $161,180 (-9.9%) 0.00 44
2023-02-01 $154,750 (-7.6%) $192,677 (4.6%) 0.00 27
2023-03-01 $164,975 (12.2%) $188,732 (13.1%) 0.00 30
2023-04-01 $185,000 (27.6%) $220,516 (31.5%) 0.00 31
2023-05-01 $206,000 (25.3%) $240,476 (24.9%) 0.00 37
2023-06-01 $227,500 (45.1%) $239,055 (31.1%) 0.00 48
2023-07-01 $225,500 (50.4%) $243,526 (34.3%) 0.00 45
2023-08-01 $225,950 (59.5%) $247,336 (44.0%) 0.00 49
2023-09-01 $202,250 (28.8%) $230,878 (15.4%) 0.00 52
2023-10-01 $187,325 (24.9%) $224,674 (16.0%) 0.00 48
2023-11-01 $187,483 (15.1%) $212,796 (20.0%) 0.00 56
2023-12-01 $177,400 (14.5%) $209,612 (0.0%) 0.00 52
Fremont's median listing price for 2023-12-01 was $177,400, a difference of $22,450 (14.5%) versus the prior year and $-10,083 versus the prior month.

Fremont's median listing price comes in at 0% of the national average.

Fremont's average listing price for 2023-12-01 was $209,612, a difference of $37,930 (0.0%) versus the prior year and $-3,184 versus the prior month.

For the 2023-12-01 period, Fremont had 52 MLS listings, a difference of -4 listings (-7%) versus the prior month and 0 listings (0%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Fremont (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,588 sqft
2018-02-01 0 days 1,645 sqft
2018-03-01 0 days 1,696 sqft
2018-04-01 0 days 1,688 sqft
2018-05-01 0 days 1,673 sqft
2018-06-01 0 days 1,676 sqft
2018-07-01 0 days 1,712 sqft
2018-08-01 0 days 1,752 sqft
2018-09-01 0 days 1,740 sqft
2018-10-01 0 days 1,704 sqft
2018-11-01 0 days 1,652 sqft
2018-12-01 0 days 1,598 sqft
2019-01-01 0 days 1,578 sqft
2019-02-01 0 days 1,577 sqft
2019-03-01 0 days 1,625 sqft
2019-04-01 0 days 1,664 sqft
2019-05-01 0 days 1,667 sqft
2019-06-01 0 days 1,598 sqft
2019-07-01 0 days 1,666 sqft
2019-08-01 0 days 1,649 sqft
2019-09-01 0 days 1,639 sqft
2019-10-01 0 days 1,633 sqft
2019-11-01 0 days 1,629 sqft
2019-12-01 0 days 1,628 sqft
2020-01-01 0 days 1,596 sqft
2020-02-01 0 days 1,550 sqft
2020-03-01 0 days 1,598 sqft
2020-04-01 0 days 1,603 sqft
2020-05-01 0 days 1,612 sqft
2020-06-01 0 days 1,756 sqft
2020-07-01 0 days 1,773 sqft
2020-08-01 0 days 1,773 sqft
2020-09-01 0 days 1,815 sqft
2020-10-01 0 days 1,717 sqft
2020-11-01 0 days 1,698 sqft
2020-12-01 0 days 1,624 sqft
2021-01-01 0 days 1,607 sqft
2021-02-01 0 days 1,693 sqft
2021-03-01 0 days 1,711 sqft
2021-04-01 0 days 1,719 sqft
2021-05-01 0 days 1,618 sqft
2021-06-01 0 days 1,721 sqft
2021-07-01 0 days 1,734 sqft
2021-08-01 0 days 1,773 sqft
2021-09-01 0 days 1,717 sqft
2021-10-01 0 days 1,658 sqft
2021-11-01 0 days 1,647 sqft
2021-12-01 0 days 1,627 sqft
2022-01-01 0 days 1,753 sqft
2022-02-01 0 days 1,773 sqft
2022-03-01 0 days 1,581 sqft
2022-04-01 0 days 1,654 sqft
2022-05-01 0 days 1,659 sqft
2022-06-01 0 days 1,579 sqft
2022-07-01 0 days 1,580 sqft
2022-08-01 0 days 1,502 sqft
2022-09-01 0 days 1,542 sqft
2022-10-01 0 days 1,540 sqft
2022-11-01 0 days 1,550 sqft
2022-12-01 0 days 1,504 sqft
2023-01-01 0 days 1,487 sqft
2023-02-01 0 days 1,600 sqft
2023-03-01 0 days 1,571 sqft
2023-04-01 0 days 1,619 sqft
2023-05-01 0 days 1,624 sqft
2023-06-01 0 days 1,711 sqft
2023-07-01 0 days 1,728 sqft
2023-08-01 0 days 1,774 sqft
2023-09-01 0 days 1,652 sqft
2023-10-01 0 days 1,564 sqft
2023-11-01 0 days 1,542 sqft
2023-12-01 0 days 1,514 sqft
Fremont's median listing age (time on market) for 2023-12-01 was 0 days.

Fremont's median square footage for active listings during the 2023-12-01 period was 1,514 sqft. One year prior, the average listing was 1,504 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).