Great Bend FHA Loan Rates, Closing Costs & Stats

Great Bend, KS

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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.

    Great Bend's 20 lenders originated 40 FHA loans during 2023. The total origination value was $4,970,000, with an average FHA loan value of $124,250.

    Great Bend FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Great Bend averaged 0.29% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Great Bend's average FHA mortgage closing costs are $4,870.

    The average rate for the prior week (2024-11-08) was 6.39% and one month ago for the week of 2024-10-11, the average rate was 6.4%.

    The average rate one year ago was 7.14%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.1%.

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

    Great Bend 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 Great Bend level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Landmark National Bank 7 6.64% $3,932
    Sierra Pacific Mortgage Company, Inc. 5 6.80% $6,697
    LOANDEPOT.COM, LLC 3 6.46% $7,273
    QUICKEN LOANS, LLC 2 5.68% $6,050
    CREDIT UNION OF AMERICA 2 6.88% $4,277
    AMERISAVE MORTGAGE CORPORATION 2 5.81% $9,940
    GUARANTEED RATE, INC. 1 6.88% $7,501
    Members Mortgage Services, L.L.C. 1 7.75% $3,454
    MORTGAGE ACCESS CORP. 1 7.63% $6,801
    Mortgage Investment Services Corporation 1 6.25% $6,874
    Mortgage Research Center, LLC 1 5.75% $5,624
    OPEN MORTGAGE, LLC 1 5.75% $8,195
    PENNYMAC LOAN SERVICES, LLC 1 7.13% $6,333
    Sunflower Bank 1 6.63% $4,952
    ZILLOW HOME LOANS, LLC 1 7.13% $7,533
    BETTER MORTGAGE CORPORATION 1 7.13% $6,005
    Commerce Bank 1 6.50% $3,943
    Equity Prime Mortgage LLC 1 6.63% $4,654
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $3,045
    FLAT BRANCH MORTGAGE, INC. 1 7.50% $9,267

    The top Great Bend FHA lender as defined by loan originations is Landmark National Bank, with 7 FHA loans originated. Their average total fees are $3,932, which is $2,765 lower than the next largest lender, Sierra Pacific Mortgage Company, Inc..

    The lowest fee Great Bend FHA lenders (with over 10 loans originated) are .

    The lowest rate Great Bend FHA lenders (with over 10 loans originated) are .

    Great Bend FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Great Bend (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 $119,900 (7.8%) $142,466 (11.6%) 0.00 132
    2018-02-01 $123,500 (10.1%) $144,119 (12.4%) 0.00 130
    2018-03-01 $124,000 (10.7%) $143,595 (11.6%) 0.00 121
    2018-04-01 $119,675 (1.4%) $140,005 (4.3%) 0.00 123
    2018-05-01 $111,450 (-4.1%) $137,578 (5.7%) 0.00 127
    2018-06-01 $109,900 (-1.9%) $140,134 (11.4%) 0.00 141
    2018-07-01 $108,175 (-4.9%) $137,574 (8.8%) 0.00 162
    2018-08-01 $105,900 (-8.5%) $135,762 (2.3%) 0.00 169
    2018-09-01 $104,950 (-11.0%) $135,520 (-0.1%) 0.00 161
    2018-10-01 $104,200 (-6.3%) $134,718 (0.6%) 0.00 164
    2018-11-01 $106,450 (-7.9%) $134,721 (0.2%) 0.00 162
    2018-12-01 $109,900 (-4.4%) $132,712 (-2.4%) 0.00 155
    2019-01-01 $109,900 (-8.3%) $135,564 (-4.8%) 0.00 156
    2019-02-01 $110,950 (-10.2%) $133,934 (-7.1%) 0.00 154
    2019-03-01 $113,786 (-8.2%) $131,926 (-8.1%) 0.00 151
    2019-04-01 $110,386 (-7.8%) $129,061 (-7.8%) 0.00 153
    2019-05-01 $114,450 (2.7%) $128,700 (-6.5%) 0.00 152
    2019-06-01 $119,500 (8.7%) $130,435 (-6.9%) 0.00 152
    2019-07-01 $115,000 (6.3%) $128,852 (-6.3%) 0.00 158
    2019-08-01 $116,336 (9.9%) $135,315 (-0.3%) 0.00 151
    2019-09-01 $116,991 (11.5%) $138,157 (2.0%) 0.00 145
    2019-10-01 $116,627 (11.9%) $140,051 (4.0%) 0.00 143
    2019-11-01 $114,500 (7.6%) $137,177 (1.8%) 0.00 147
    2019-12-01 $112,400 (2.3%) $133,932 (0.9%) 0.00 144
    2020-01-01 $112,625 (2.5%) $133,674 (-1.4%) 0.00 138
    2020-02-01 $114,750 (3.4%) $135,036 (0.8%) 0.00 132
    2020-03-01 $109,600 (-3.7%) $129,618 (-1.8%) 0.00 123
    2020-04-01 $112,000 (1.5%) $138,939 (7.7%) 0.00 123
    2020-05-01 $112,000 (-2.1%) $144,107 (12.0%) 0.00 119
    2020-06-01 $109,975 (-8.0%) $144,541 (10.8%) 0.00 110
    2020-07-01 $119,950 (4.3%) $155,444 (20.6%) 0.00 104
    2020-08-01 $114,900 (-1.2%) $152,867 (13.0%) 0.00 101
    2020-09-01 $110,000 (-6.0%) $146,687 (6.2%) 0.00 84
    2020-10-01 $109,950 (-5.7%) $141,782 (1.2%) 0.00 86
    2020-11-01 $108,975 (-4.8%) $141,923 (3.5%) 0.00 86
    2020-12-01 $105,000 (-6.6%) $137,276 (2.5%) 0.00 77
    2021-01-01 $110,500 (-1.9%) $131,531 (-1.6%) 0.00 72
    2021-02-01 $89,700 (-21.8%) $135,122 (0.1%) 0.00 67
    2021-03-01 $99,950 (-8.8%) $136,593 (5.4%) 0.00 70
    2021-04-01 $104,200 (-7.0%) $138,406 (-0.4%) 0.00 53
    2021-05-01 $118,700 (6.0%) $159,461 (10.7%) 0.00 45
    2021-06-01 $96,600 (-12.2%) $148,062 (2.4%) 0.00 48
    2021-07-01 $102,400 (-14.6%) $157,465 (1.3%) 0.00 42
    2021-08-01 $114,675 (-0.2%) $168,514 (10.2%) 0.00 46
    2021-09-01 $112,450 (2.2%) $180,123 (22.8%) 0.00 41
    2021-10-01 $110,000 (0.1%) $175,618 (23.9%) 0.00 47
    2021-11-01 $110,000 (0.9%) $162,167 (14.3%) 0.00 44
    2021-12-01 $105,950 (0.9%) $166,345 (21.2%) 0.00 47
    2022-01-01 $110,450 (-0.1%) $167,394 (27.3%) 0.00 47
    2022-02-01 $108,925 (21.4%) $165,347 (22.4%) 0.00 31
    2022-03-01 $118,475 (18.5%) $162,292 (18.8%) 0.00 27
    2022-04-01 $111,000 (6.5%) $157,680 (13.9%) 0.00 30
    2022-05-01 $134,900 (13.7%) $177,287 (11.2%) 0.00 34
    2022-06-01 $136,925 (41.7%) $168,373 (13.7%) 0.00 36
    2022-07-01 $129,500 (26.5%) $157,456 (0.0%) 0.00 41
    2022-08-01 $136,650 (19.2%) $177,124 (5.1%) 0.00 41
    2022-09-01 $133,450 (18.7%) $167,204 (-7.2%) 0.00 47
    2022-10-01 $125,000 (13.6%) $167,517 (-4.6%) 0.00 49
    2022-11-01 $119,900 (9.0%) $178,391 (10.0%) 0.00 49
    2022-12-01 $119,900 (13.2%) $176,025 (5.8%) 0.00 53
    2023-01-01 $124,950 (13.1%) $172,254 (2.9%) 0.00 50
    2023-02-01 $123,200 (13.1%) $158,495 (-4.1%) 0.00 54
    2023-03-01 $120,950 (2.1%) $149,950 (-7.6%) 0.00 56
    2023-04-01 $122,000 (9.9%) $159,325 (1.0%) 0.00 55
    2023-05-01 $135,925 (0.8%) $184,897 (4.3%) 0.00 50
    2023-06-01 $149,925 (9.5%) $190,491 (13.1%) 0.00 51
    2023-07-01 $133,900 (3.4%) $186,434 (18.4%) 0.00 58
    2023-08-01 $135,950 (-0.5%) $177,669 (0.3%) 0.00 63
    2023-09-01 $129,000 (-3.3%) $176,667 (5.7%) 0.00 63
    2023-10-01 $127,500 (2.0%) $174,381 (4.1%) 0.00 53
    2023-11-01 $119,950 (0.0%) $165,662 (-7.1%) 0.00 52
    2023-12-01 $119,500 (-0.3%) $163,262 (-7.3%) 0.00 48
    2024-01-01 $121,725 (-2.6%) $181,985 (5.7%) 0.00 43
    2024-02-01 $119,375 (-3.1%) $172,821 (9.0%) 0.00 41
    2024-03-01 $123,450 (2.1%) $170,923 (14.0%) 0.00 41
    2024-04-01 $130,000 (6.6%) $170,920 (7.3%) 0.00 36
    2024-05-01 $132,075 (-2.8%) $188,703 (2.1%) 0.00 28
    2024-06-01 $160,000 (6.7%) $211,280 (10.9%) 0.00 39
    2024-07-01 $164,475 (22.8%) $209,111 (12.2%) 0.00 43
    2024-08-01 $165,000 (21.4%) $218,793 (23.2%) 0.00 49
    2024-09-01 $185,925 (44.1%) $228,955 (29.6%) 0.00 64
    2024-10-01 $174,600 (36.9%) $224,870 (29.0%) 0.00 66
    Great Bend's median listing price for 2024-10-01 was $174,600, a difference of $47,100 (36.9%) versus the prior year and $-11,325 versus the prior month.

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

    Great Bend's average listing price for 2024-10-01 was $224,870, a difference of $50,489 (29.0%) versus the prior year and $-4,085 versus the prior month.

    For the 2024-10-01 period, Great Bend had 66 MLS listings, a difference of 2 listings (3%) versus the prior month and 13 listings (25%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Great Bend (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,430 sqft
    2018-02-01 0 days 1,435 sqft
    2018-03-01 0 days 1,431 sqft
    2018-04-01 0 days 1,438 sqft
    2018-05-01 0 days 1,427 sqft
    2018-06-01 0 days 1,430 sqft
    2018-07-01 0 days 1,406 sqft
    2018-08-01 0 days 1,402 sqft
    2018-09-01 0 days 1,413 sqft
    2018-10-01 0 days 1,398 sqft
    2018-11-01 0 days 1,403 sqft
    2018-12-01 0 days 1,390 sqft
    2019-01-01 0 days 1,416 sqft
    2019-02-01 0 days 1,391 sqft
    2019-03-01 0 days 1,382 sqft
    2019-04-01 0 days 1,335 sqft
    2019-05-01 0 days 1,363 sqft
    2019-06-01 0 days 1,380 sqft
    2019-07-01 0 days 1,401 sqft
    2019-08-01 0 days 1,396 sqft
    2019-09-01 0 days 1,387 sqft
    2019-10-01 0 days 1,385 sqft
    2019-11-01 0 days 1,340 sqft
    2019-12-01 0 days 1,353 sqft
    2020-01-01 0 days 1,362 sqft
    2020-02-01 0 days 1,339 sqft
    2020-03-01 0 days 1,247 sqft
    2020-04-01 0 days 1,242 sqft
    2020-05-01 0 days 1,316 sqft
    2020-06-01 0 days 1,339 sqft
    2020-07-01 0 days 1,430 sqft
    2020-08-01 0 days 1,430 sqft
    2020-09-01 0 days 1,392 sqft
    2020-10-01 0 days 1,352 sqft
    2020-11-01 0 days 1,338 sqft
    2020-12-01 0 days 1,330 sqft
    2021-01-01 0 days 1,305 sqft
    2021-02-01 0 days 1,305 sqft
    2021-03-01 0 days 1,372 sqft
    2021-04-01 0 days 1,391 sqft
    2021-05-01 0 days 1,489 sqft
    2021-06-01 0 days 1,298 sqft
    2021-07-01 0 days 1,380 sqft
    2021-08-01 0 days 1,431 sqft
    2021-09-01 0 days 1,363 sqft
    2021-10-01 0 days 1,356 sqft
    2021-11-01 0 days 1,292 sqft
    2021-12-01 0 days 1,344 sqft
    2022-01-01 0 days 1,345 sqft
    2022-02-01 0 days 1,371 sqft
    2022-03-01 0 days 1,402 sqft
    2022-04-01 0 days 1,230 sqft
    2022-05-01 0 days 1,439 sqft
    2022-06-01 0 days 1,501 sqft
    2022-07-01 0 days 1,380 sqft
    2022-08-01 0 days 1,425 sqft
    2022-09-01 0 days 1,413 sqft
    2022-10-01 0 days 1,408 sqft
    2022-11-01 0 days 1,391 sqft
    2022-12-01 0 days 1,387 sqft
    2023-01-01 0 days 1,380 sqft
    2023-02-01 0 days 1,366 sqft
    2023-03-01 0 days 1,305 sqft
    2023-04-01 0 days 1,410 sqft
    2023-05-01 0 days 1,485 sqft
    2023-06-01 0 days 1,603 sqft
    2023-07-01 0 days 1,632 sqft
    2023-08-01 0 days 1,544 sqft
    2023-09-01 0 days 1,388 sqft
    2023-10-01 0 days 1,288 sqft
    2023-11-01 0 days 1,338 sqft
    2023-12-01 0 days 1,351 sqft
    2024-01-01 0 days 1,432 sqft
    2024-02-01 0 days 1,510 sqft
    2024-03-01 0 days 1,542 sqft
    2024-04-01 0 days 1,646 sqft
    2024-05-01 0 days 1,875 sqft
    2024-06-01 0 days 1,630 sqft
    2024-07-01 0 days 1,575 sqft
    2024-08-01 0 days 1,609 sqft
    2024-09-01 0 days 1,606 sqft
    2024-10-01 0 days 1,605 sqft
    Great Bend's median listing age (time on market) for 2024-10-01 was 0 days.

    Great Bend's median square footage for active listings during the 2024-10-01 period was 1,605 sqft. One year prior, the average listing was 1,288 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).