Fremont FHA Loan Rates, Closing Costs & Stats

Fremont, OH

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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.

    Fremont's 39 lenders originated 121 FHA loans during 2023. The total origination value was $18,735,000, with an average FHA loan value of $154,835.

    Fremont FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Fremont averaged 6.46% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Fremont's average FHA mortgage closing costs are $6,131.

    The average rate for the prior week (2024-11-01) was 6.63% and one month ago for the week of 2024-10-04, the average rate was 5.75%.

    The average rate one year ago was 7.4%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.53%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 31 6.37% $8,725
    CROSSCOUNTRY MORTGAGE, LLC 8 7.17% $8,355
    UNION HOME MORTGAGE CORP. 7 6.75% $7,777
    LOANDEPOT.COM, LLC 7 6.89% $8,260
    The Huntington National Bank 5 6.95% $6,002
    UNITED WHOLESALE MORTGAGE, LLC 5 6.13% $10,754
    UNION CAPITAL MORTGAGE CORPORATION 4 7.34% $7,897
    NEWREZ LLC 3 6.92% $6,981
    BROKER SOLUTIONS, INC. 3 6.75% $10,491
    EQUITY RESOURCES, INC. 2 7.31% $6,938
    Servion, Inc. 2 6.44% $6,291
    RELIANCE FIRST CAPITAL, LLC 2 7.44% $5,713
    PLAZA HOME MORTGAGE, INC. 2 6.75% $5,990
    Carrington Mortgage Services, LLC 2 6.63% $8,582
    KeyBank 2 6.00% $6,611
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $9,576
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $9,433
    NATIONS RELIABLE LENDING, LLC 1 7.25% $7,994
    ROYAL UNITED MORTGAGE LLC 1 7.13% $8,157
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.25% $2,510
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.50% $9,569
    T2 FINANCIAL LLC 1 7.50% $9,949
    YOUR HOME FINANCIAL LLC 1 7.63% $8,098
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.50% $8,183
    ZILLOW HOME LOANS, LLC 1 7.13% $7,063
    AMERISAVE MORTGAGE CORPORATION 1 6.13% $8,954
    Barrington Bank & Trust Company, N.A. 1 5.75% $10,905
    CARDINAL FINANCIAL 1 7.50% $11,557
    CHURCHILL MORTGAGE CORPORATION 1 6.75% $12,742
    Equity Prime Mortgage LLC 1 6.50% $10,106
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $7,201
    First Federal Bank 1 6.13% $6,678
    FREEDOM MORTGAGE CORPORATION 1 7.25% $17,206
    GUILD MORTGAGE COMPANY 1 6.63% $10,754
    GVC MORTGAGE, INC. 1 7.13% $6,126
    HOMESIDE FINANCIAL, LLC 1 7.63% $7,198
    Hometown Equity Mortgage, LLC 1 6.75% $9,441
    MID AMERICA MORTGAGE, INC. 1 6.75% $3,181
    MOVEMENT MORTGAGE, LLC 1 6.75% $6,650

    The top Fremont FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 31 FHA loans originated. Their average total fees are $8,725, which is $370 higher than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Fremont FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,725), .

    The lowest rate Fremont FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.37%), .

    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 (40.8%) 0.00 136
    2018-02-01 $114,900 (27.8%) $155,633 (27.8%) 0.00 125
    2018-03-01 $110,544 (25.6%) $162,824 (33.3%) 0.00 112
    2018-04-01 $116,750 (24.9%) $163,625 (24.5%) 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 (21.9%) 0.00 119
    2018-07-01 $132,725 (14.2%) $180,843 (13.3%) 0.00 137
    2018-08-01 $132,725 (11.8%) $179,957 (14.1%) 0.00 146
    2018-09-01 $126,900 (6.7%) $170,952 (10.1%) 0.00 142
    2018-10-01 $117,450 (-1.3%) $164,960 (4.2%) 0.00 138
    2018-11-01 $107,167 (-9.0%) $157,934 (3.0%) 0.00 137
    2018-12-01 $100,500 (-7.8%) $149,494 (-2.0%) 0.00 128
    2019-01-01 $98,450 (-10.0%) $146,927 (-6.1%) 0.00 120
    2019-02-01 $104,625 (-8.9%) $147,647 (-5.1%) 0.00 115
    2019-03-01 $114,857 (3.9%) $155,165 (-4.7%) 0.00 111
    2019-04-01 $125,932 (7.9%) $162,682 (-0.6%) 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 (-10.4%) 0.00 132
    2019-07-01 $125,175 (-5.7%) $159,502 (-11.8%) 0.00 125
    2019-08-01 $124,927 (-5.9%) $157,093 (-12.7%) 0.00 124
    2019-09-01 $124,968 (-1.5%) $153,749 (-10.1%) 0.00 133
    2019-10-01 $123,720 (5.3%) $151,520 (-8.2%) 0.00 139
    2019-11-01 $128,450 (19.9%) $148,089 (-6.2%) 0.00 138
    2019-12-01 $129,425 (28.8%) $142,618 (-4.6%) 0.00 118
    2020-01-01 $131,925 (34.0%) $141,399 (-3.8%) 0.00 102
    2020-02-01 $98,000 (-6.3%) $126,823 (-14.1%) 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 (3.3%) 0.00 59
    2020-07-01 $140,500 (12.2%) $174,382 (9.3%) 0.00 53
    2020-08-01 $149,700 (19.8%) $167,757 (6.8%) 0.00 64
    2020-09-01 $119,950 (-4.0%) $145,707 (-5.2%) 0.00 80
    2020-10-01 $124,900 (1.0%) $148,195 (-2.2%) 0.00 79
    2020-11-01 $119,000 (-7.4%) $147,545 (-0.4%) 0.00 75
    2020-12-01 $124,950 (-3.5%) $145,868 (2.3%) 0.00 67
    2021-01-01 $120,000 (-9.0%) $140,944 (-0.3%) 0.00 55
    2021-02-01 $129,925 (32.6%) $145,239 (14.5%) 0.00 46
    2021-03-01 $120,750 (16.3%) $145,957 (11.3%) 0.00 40
    2021-04-01 $134,050 (23.3%) $153,066 (20.2%) 0.00 31
    2021-05-01 $149,500 (36.0%) $164,229 (26.2%) 0.00 30
    2021-06-01 $172,675 (38.2%) $178,415 (7.2%) 0.00 37
    2021-07-01 $175,000 (24.6%) $189,146 (8.5%) 0.00 51
    2021-08-01 $199,750 (33.4%) $200,087 (19.3%) 0.00 62
    2021-09-01 $172,975 (44.2%) $193,345 (32.7%) 0.00 66
    2021-10-01 $172,400 (38.0%) $189,011 (27.5%) 0.00 70
    2021-11-01 $162,450 (36.5%) $181,587 (23.1%) 0.00 66
    2021-12-01 $136,150 (9.0%) $171,606 (17.6%) 0.00 49
    2022-01-01 $155,450 (29.5%) $184,903 (31.2%) 0.00 40
    2022-02-01 $167,400 (28.8%) $192,261 (32.4%) 0.00 37
    2022-03-01 $147,000 (21.7%) $173,462 (18.8%) 0.00 42
    2022-04-01 $145,000 (8.2%) $175,010 (14.3%) 0.00 36
    2022-05-01 $164,425 (10.0%) $194,109 (18.2%) 0.00 45
    2022-06-01 $156,800 (-9.2%) $183,968 (3.1%) 0.00 54
    2022-07-01 $149,900 (-14.3%) $182,584 (-3.5%) 0.00 66
    2022-08-01 $141,650 (-29.1%) $173,322 (-13.4%) 0.00 68
    2022-09-01 $157,000 (-9.2%) $201,362 (4.2%) 0.00 62
    2022-10-01 $149,950 (-13.0%) $195,171 (3.3%) 0.00 66
    2022-11-01 $162,850 (0.3%) $179,391 (-1.2%) 0.00 50
    2022-12-01 $154,950 (13.8%) $171,682 (0.0%) 0.00 52
    2023-01-01 $143,225 (-7.9%) $161,180 (-12.8%) 0.00 44
    2023-02-01 $154,750 (-7.6%) $192,677 (0.2%) 0.00 27
    2023-03-01 $164,975 (12.2%) $188,732 (8.8%) 0.00 30
    2023-04-01 $185,000 (27.6%) $220,516 (26.0%) 0.00 31
    2023-05-01 $206,000 (25.3%) $240,476 (23.9%) 0.00 37
    2023-06-01 $227,500 (45.1%) $239,055 (29.9%) 0.00 48
    2023-07-01 $225,500 (50.4%) $243,526 (33.4%) 0.00 45
    2023-08-01 $225,950 (59.5%) $247,336 (42.7%) 0.00 49
    2023-09-01 $202,250 (28.8%) $230,878 (14.7%) 0.00 52
    2023-10-01 $187,325 (24.9%) $224,674 (15.1%) 0.00 48
    2023-11-01 $187,483 (15.1%) $212,796 (18.6%) 0.00 56
    2023-12-01 $177,400 (14.5%) $209,612 (22.1%) 0.00 52
    2024-01-01 $167,400 (16.9%) $200,221 (24.2%) 0.00 52
    2024-02-01 $162,450 (5.0%) $202,538 (5.1%) 0.00 50
    2024-03-01 $190,950 (15.7%) $227,718 (20.7%) 0.00 42
    2024-04-01 $183,225 (-1.0%) $228,938 (3.8%) 0.00 48
    2024-05-01 $180,425 (-12.4%) $230,498 (-4.2%) 0.00 56
    2024-06-01 $185,000 (-18.7%) $228,520 (-4.4%) 0.00 49
    2024-07-01 $167,450 (-25.7%) $198,010 (-18.7%) 0.00 59
    2024-08-01 $185,900 (-17.7%) $222,209 (-10.2%) 0.00 62
    2024-09-01 $188,650 (-6.7%) $219,705 (-4.8%) 0.00 61
    2024-10-01 $195,475 (4.4%) $221,944 (-1.2%) 0.00 74
    Fremont's median listing price for 2024-10-01 was $195,475, a difference of $8,150 (4.4%) versus the prior year and $6,825 versus the prior month.

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

    Fremont's average listing price for 2024-10-01 was $221,944, a difference of $-2,730 (-1.2%) versus the prior year and $2,239 versus the prior month.

    For the 2024-10-01 period, Fremont had 74 MLS listings, a difference of 13 listings (21%) versus the prior month and 26 listings (54%) 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 1,542 sqft
    2020-03-01 0 days 1,577 sqft
    2020-04-01 0 days 1,590 sqft
    2020-05-01 0 days 1,572 sqft
    2020-06-01 0 days 1,724 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 1,570 sqft
    2021-02-01 0 days 1,687 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
    2024-01-01 0 days 1,499 sqft
    2024-02-01 0 days 1,535 sqft
    2024-03-01 0 days 1,600 sqft
    2024-04-01 0 days 1,462 sqft
    2024-05-01 0 days 1,509 sqft
    2024-06-01 0 days 1,595 sqft
    2024-07-01 0 days 1,538 sqft
    2024-08-01 0 days 1,562 sqft
    2024-09-01 0 days 1,633 sqft
    2024-10-01 0 days 1,546 sqft
    Fremont's median listing age (time on market) for 2024-10-01 was 0 days.

    Fremont's median square footage for active listings during the 2024-10-01 period was 1,546 sqft. One year prior, the average listing was 1,564 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).