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 46 lenders originated 134 FHA loans during 2024. The total origination value was $22,860,000, with an average FHA loan value of $170,597.

    Fremont FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Fremont averaged 0.15% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Fremont's average FHA mortgage closing costs are $6,477.

    The average rate for the prior week (2025-06-13) was 6.93% and one month ago for the week of 2025-05-16, the average rate was 7%.

    The average rate one year ago was 6.95%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 27 6.32% $10,046
    LOANDEPOT.COM, LLC 12 6.55% $7,883
    CROSSCOUNTRY MORTGAGE, LLC 6 7.14% $10,343
    The Huntington National Bank 5 6.63% $8,877
    MICHIGAN MUTUAL, INC. 5 7.03% $6,752
    HOWARD HANNA FINANCIAL SERVICES, INC. 4 6.63% $9,601
    UNION CAPITAL MORTGAGE CORPORATION 4 7.06% $9,552
    AMERICAN FINANCIAL NETWORK, INC. 3 7.38% $6,586
    Carrington Mortgage Services, LLC 3 6.29% $13,581
    UNION HOME MORTGAGE CORP. 3 6.63% $6,559
    FREEDOM MORTGAGE CORPORATION 3 5.75% $6,370
    GUARANTEED RATE, INC. 3 6.41% $10,641
    Mr. Cooper ( Nationstar Mortgage ) 2 6.94% $10,523
    First Federal Bank of the Midwest 2 6.00% $8,649
    PENNYMAC LOAN SERVICES, LLC 2 6.19% $5,910
    KeyBank 2 6.38% $5,439
    MILEND, INC. 1 7.13% $12,182
    Mortgage Research Center, LLC 1 6.75% $6,156
    NEWREZ LLC 1 7.75% $9,163
    OCEANSIDE MORTGAGE COMPANY 1 6.25% $2,889
    PHH Mortgage Corporation 1 7.63% $6,326
    PLAZA HOME MORTGAGE, INC. 1 6.25% $6,296
    ROYAL UNITED MORTGAGE LLC 1 6.25% $9,341
    Servion, Inc. 1 6.63% $5,048
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.00% $9,713
    The Genoa Banking Company 1 6.63% $9,805
    Union Savings Bank 1 6.25% $5,874
    UNITED WHOLESALE MORTGAGE, LLC 1 4.25% $18,628
    Wells Fargo Bank 1 6.50% $7,048
    YOUR HOME FINANCIAL LLC 1 7.75% $3,620
    ZILLOW HOME LOANS, LLC 1 7.25% $8,442
    AMERICAN FINANCING CORPORATION 1 5.75% $6,506
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $16,392
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $6,567
    Bank of England 1 6.13% $10,134
    BROKER SOLUTIONS, INC. 1 7.25% $10,009
    CHURCHILL MORTGAGE CORPORATION 1 7.25% $9,546
    Civista Bank 1 5.63% $6,361
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 7.25% $9,162
    Dollar Bank, Federal Savings Bank 1 6.63% $7,307
    EMM LOANS LLC 1 6.75% $14,037
    Equity Prime Mortgage LLC 1 6.25% $6,631
    EQUITY RESOURCES, INC. 1 6.63% $5,022
    Fifth Third Bank 1 7.25% $6,432
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $10,834
    MEMBER FIRST MORTGAGE, LLC 1 6.63% $4,066

    The top Fremont FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 27 FHA loans originated. Their average total fees are $10,046, which is $2,163 higher than the next largest lender, LOANDEPOT.COM, LLC.

    The lowest fee Fremont FHA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC ($7,883), QUICKEN LOANS, LLC ($10,046), .

    The lowest rate Fremont FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.32%), LOANDEPOT.COM, LLC (6.55%), .

    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

    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).