Greensburg FHA Loan Rates, Closing Costs & Stats

Greensburg, IN

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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.

    Greensburg's 33 lenders originated 98 FHA loans during 2023. The total origination value was $18,030,000, with an average FHA loan value of $183,980.

    Greensburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Greensburg averaged 6.6% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Greensburg's average FHA mortgage closing costs are $5,875.

    The average rate for the prior week (2024-11-01) was 6.47% and one month ago for the week of 2024-10-04, the average rate was 5.99%.

    The average rate one year ago was 7.44%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.63%.

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

    Greensburg 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 Greensburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GVC MORTGAGE, INC. 15 7.28% $8,741
    QUICKEN LOANS, LLC 13 6.30% $8,856
    FIRST COMMUNITY MORTGAGE, INC. 11 7.18% $7,782
    RUOFF MORTGAGE COMPANY, INC. 7 7.00% $4,449
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 7.18% $8,350
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 7.06% $7,173
    German American Bank 3 6.71% $7,284
    Mortgage Research Center, LLC 2 7.25% $4,734
    NEWREZ LLC 2 6.94% $6,619
    HALLMARK HOME MORTGAGE, LLC 2 6.81% $8,198
    LOANDEPOT.COM, LLC 2 6.00% $7,254
    Century Mortgage Company DBA Century Lending Company 2 6.44% $5,637
    GUARANTEED RATE, INC. 2 7.75% $8,510
    OPEN MORTGAGE, LLC 1 6.75% $7,759
    PHH Mortgage Corporation 1 6.99% $6,897
    Plains Commerce Bank 1 5.63% $6,177
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $8,486
    The Huntington National Bank 1 7.25% $10,634
    UNION HOME MORTGAGE CORP. 1 6.50% $10,345
    ALLIED MORTGAGE GROUP, INC. 1 7.63% $8,462
    Wolfe Financial, Inc 1 7.00% $8,049
    BROKER SOLUTIONS, INC. 1 7.25% $6,711
    CALIBER HOME LOANS, INC. 1 6.75% $6,215
    Carrington Mortgage Services, LLC 1 6.63% $3,738
    FREEDOM MORTGAGE CORPORATION 1 7.25% $11,562
    MJW Financial LLC 1 4.88% $10,244
    MOVEMENT MORTGAGE, LLC 1 8.25% $9,960
    Mr. Cooper ( Nationstar Mortgage ) 1 7.25% $12,608
    M&T Bank 1 5.75% $5,219
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.00% $11,010
    Nations Lending Corporation 1 6.75% $3,416
    Northpointe Bank 1 6.75% $8,367
    Northwest Bank 1 6.38% $6,691

    The top Greensburg FHA lender as defined by loan originations is GVC MORTGAGE, INC., with 15 FHA loans originated. Their average total fees are $8,741, which is $115 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Greensburg FHA lenders (with over 10 loans originated) are FIRST COMMUNITY MORTGAGE, INC. ($7,782), GVC MORTGAGE, INC. ($8,741), QUICKEN LOANS, LLC ($8,856), .

    The lowest rate Greensburg FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.30%), FIRST COMMUNITY MORTGAGE, INC. (7.18%), GVC MORTGAGE, INC. (7.28%), .

    Greensburg FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Greensburg (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 $123,325 (-12.6%) $160,337 (-9.7%) 0.00 76
    2018-02-01 $119,050 (-22.8%) $153,222 (-20.6%) 0.00 75
    2018-03-01 $129,500 (-16.1%) $154,470 (-22.9%) 0.00 62
    2018-04-01 $131,338 (-14.8%) $157,768 (-20.1%) 0.00 68
    2018-05-01 $134,675 (-7.8%) $162,248 (-18.7%) 0.00 67
    2018-06-01 $142,450 (-9.8%) $175,669 (-12.9%) 0.00 79
    2018-07-01 $149,650 (0.1%) $178,859 (-9.1%) 0.00 79
    2018-08-01 $149,900 (10.1%) $189,080 (-0.6%) 0.00 81
    2018-09-01 $145,000 (11.8%) $180,054 (7.5%) 0.00 90
    2018-10-01 $140,950 (9.6%) $180,496 (4.5%) 0.00 89
    2018-11-01 $147,100 (13.8%) $190,634 (11.6%) 0.00 81
    2018-12-01 $149,900 (12.0%) $201,766 (20.5%) 0.00 73
    2019-01-01 $161,150 (30.7%) $198,364 (23.7%) 0.00 69
    2019-02-01 $161,675 (35.8%) $195,092 (27.3%) 0.00 62
    2019-03-01 $159,900 (23.5%) $197,421 (27.8%) 0.00 64
    2019-04-01 $177,400 (35.1%) $213,681 (35.4%) 0.00 64
    2019-05-01 $197,250 (46.5%) $238,119 (46.8%) 0.00 63
    2019-06-01 $183,500 (28.8%) $240,366 (36.8%) 0.00 76
    2019-07-01 $182,175 (21.7%) $254,502 (42.3%) 0.00 80
    2019-08-01 $178,118 (18.8%) $244,499 (29.3%) 0.00 86
    2019-09-01 $184,745 (27.4%) $246,957 (37.2%) 0.00 84
    2019-10-01 $186,214 (32.1%) $246,544 (36.6%) 0.00 83
    2019-11-01 $166,200 (13.0%) $210,738 (10.6%) 0.00 79
    2019-12-01 $168,550 (12.4%) $221,150 (9.6%) 0.00 62
    2020-01-01 $144,200 (-10.5%) $222,465 (12.2%) 0.00 55
    2020-02-01 $169,900 (5.1%) $230,033 (17.9%) 0.00 50
    2020-03-01 $169,900 (6.3%) $241,022 (22.1%) 0.00 39
    2020-04-01 $159,450 (-10.1%) $227,709 (6.6%) 0.00 38
    2020-05-01 $169,900 (-13.9%) $222,789 (-6.4%) 0.00 37
    2020-06-01 $179,900 (-2.0%) $242,756 (1.0%) 0.00 31
    2020-07-01 $183,450 (0.7%) $249,909 (-1.8%) 0.00 27
    2020-08-01 $182,450 (2.4%) $248,132 (1.5%) 0.00 32
    2020-09-01 $154,450 (-16.4%) $202,195 (-18.1%) 0.00 34
    2020-10-01 $165,000 (-11.4%) $206,854 (-16.1%) 0.00 42
    2020-11-01 $174,900 (5.2%) $214,942 (2.0%) 0.00 40
    2020-12-01 $178,700 (6.0%) $233,740 (5.7%) 0.00 35
    2021-01-01 $188,400 (30.7%) $266,121 (19.6%) 0.00 30
    2021-02-01 $166,950 (-1.7%) $256,794 (11.6%) 0.00 25
    2021-03-01 $187,900 (10.6%) $286,578 (18.9%) 0.00 18
    2021-04-01 $202,625 (27.1%) $284,767 (25.1%) 0.00 22
    2021-05-01 $229,900 (35.3%) $279,719 (25.6%) 0.00 23
    2021-06-01 $209,075 (16.2%) $251,977 (3.8%) 0.00 28
    2021-07-01 $209,900 (14.4%) $265,082 (6.1%) 0.00 31
    2021-08-01 $193,725 (6.2%) $260,130 (4.8%) 0.00 34
    2021-09-01 $189,500 (22.7%) $274,054 (35.5%) 0.00 46
    2021-10-01 $189,900 (15.1%) $276,536 (33.7%) 0.00 49
    2021-11-01 $224,925 (28.6%) $296,614 (38.0%) 0.00 51
    2021-12-01 $223,450 (25.0%) $298,572 (27.7%) 0.00 45
    2022-01-01 $184,450 (-2.1%) $271,254 (1.9%) 0.00 37
    2022-02-01 $171,125 (2.5%) $290,221 (13.0%) 0.00 31
    2022-03-01 $229,950 (22.4%) $331,246 (15.6%) 0.00 29
    2022-04-01 $211,200 (4.2%) $315,196 (10.7%) 0.00 28
    2022-05-01 $194,850 (-15.3%) $308,334 (10.2%) 0.00 26
    2022-06-01 $174,950 (-16.3%) $292,243 (16.0%) 0.00 41
    2022-07-01 $195,000 (-7.1%) $321,826 (21.4%) 0.00 46
    2022-08-01 $199,875 (3.2%) $299,143 (15.0%) 0.00 53
    2022-09-01 $195,000 (2.9%) $270,756 (-1.2%) 0.00 45
    2022-10-01 $212,500 (11.9%) $268,375 (-3.0%) 0.00 48
    2022-11-01 $189,900 (-15.6%) $268,170 (-9.6%) 0.00 42
    2022-12-01 $210,000 (-6.0%) $284,176 (-4.8%) 0.00 37
    2023-01-01 $189,700 (2.9%) $277,629 (2.4%) 0.00 34
    2023-02-01 $190,975 (11.6%) $283,557 (-2.3%) 0.00 26
    2023-03-01 $230,400 (0.2%) $303,239 (-8.5%) 0.00 22
    2023-04-01 $239,900 (13.6%) $325,504 (3.3%) 0.00 26
    2023-05-01 $224,900 (15.4%) $325,730 (5.6%) 0.00 30
    2023-06-01 $273,075 (56.1%) $331,413 (13.4%) 0.00 33
    2023-07-01 $285,000 (46.2%) $315,002 (-2.1%) 0.00 41
    2023-08-01 $262,350 (31.3%) $293,614 (-1.9%) 0.00 54
    2023-09-01 $239,900 (23.0%) $260,165 (-3.9%) 0.00 56
    2023-10-01 $241,100 (13.5%) $259,732 (-3.2%) 0.00 52
    2023-11-01 $257,450 (35.6%) $279,165 (4.1%) 0.00 41
    2023-12-01 $239,500 (14.1%) $268,101 (-5.7%) 0.00 35
    2024-01-01 $237,625 (25.3%) $272,776 (-1.8%) 0.00 35
    2024-02-01 $234,875 (23.0%) $308,234 (8.7%) 0.00 34
    2024-03-01 $246,900 (7.2%) $348,210 (14.8%) 0.00 35
    2024-04-01 $278,725 (16.2%) $354,201 (8.8%) 0.00 38
    2024-05-01 $337,250 (50.0%) $399,853 (22.8%) 0.00 35
    2024-06-01 $299,000 (9.5%) $376,500 (13.6%) 0.00 37
    2024-07-01 $293,700 (3.1%) $350,873 (11.4%) 0.00 50
    2024-08-01 $284,000 (8.3%) $321,166 (9.4%) 0.00 47
    2024-09-01 $281,950 (17.5%) $337,670 (29.8%) 0.00 54
    2024-10-01 $308,450 (27.9%) $345,944 (33.2%) 0.00 53
    Greensburg's median listing price for 2024-10-01 was $308,450, a difference of $67,350 (27.9%) versus the prior year and $26,500 versus the prior month.

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

    Greensburg's average listing price for 2024-10-01 was $345,944, a difference of $86,212 (33.2%) versus the prior year and $8,274 versus the prior month.

    For the 2024-10-01 period, Greensburg had 53 MLS listings, a difference of -1 listings (-2%) versus the prior month and 1 listings (2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Greensburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,767 sqft
    2018-02-01 0 days 1,786 sqft
    2018-03-01 0 days 1,795 sqft
    2018-04-01 0 days 1,757 sqft
    2018-05-01 0 days 1,810 sqft
    2018-06-01 0 days 1,881 sqft
    2018-07-01 0 days 1,891 sqft
    2018-08-01 0 days 1,888 sqft
    2018-09-01 0 days 1,756 sqft
    2018-10-01 0 days 1,740 sqft
    2018-11-01 0 days 1,779 sqft
    2018-12-01 0 days 1,831 sqft
    2019-01-01 0 days 1,845 sqft
    2019-02-01 0 days 1,845 sqft
    2019-03-01 0 days 1,802 sqft
    2019-04-01 0 days 1,871 sqft
    2019-05-01 0 days 2,122 sqft
    2019-06-01 0 days 1,972 sqft
    2019-07-01 0 days 1,986 sqft
    2019-08-01 0 days 1,949 sqft
    2019-09-01 0 days 2,000 sqft
    2019-10-01 0 days 2,057 sqft
    2019-11-01 0 days 1,662 sqft
    2019-12-01 0 days 1,646 sqft
    2020-01-01 0 days 1,632 sqft
    2020-02-01 0 days 1,791 sqft
    2020-03-01 0 days 1,806 sqft
    2020-04-01 0 days 1,662 sqft
    2020-05-01 0 days 1,834 sqft
    2020-06-01 0 days 2,061 sqft
    2020-07-01 0 days 2,075 sqft
    2020-08-01 0 days 2,199 sqft
    2020-09-01 0 days 1,767 sqft
    2020-10-01 0 days 2,017 sqft
    2020-11-01 0 days 1,916 sqft
    2020-12-01 0 days 2,087 sqft
    2021-01-01 0 days 2,400 sqft
    2021-02-01 0 days 2,169 sqft
    2021-03-01 0 days 2,451 sqft
    2021-04-01 0 days 2,270 sqft
    2021-05-01 0 days 2,425 sqft
    2021-06-01 0 days 2,031 sqft
    2021-07-01 0 days 1,940 sqft
    2021-08-01 0 days 1,920 sqft
    2021-09-01 0 days 1,867 sqft
    2021-10-01 0 days 1,914 sqft
    2021-11-01 0 days 2,084 sqft
    2021-12-01 0 days 2,058 sqft
    2022-01-01 0 days 1,941 sqft
    2022-02-01 0 days 1,772 sqft
    2022-03-01 0 days 2,090 sqft
    2022-04-01 0 days 1,940 sqft
    2022-05-01 0 days 1,840 sqft
    2022-06-01 0 days 1,851 sqft
    2022-07-01 0 days 1,904 sqft
    2022-08-01 0 days 1,912 sqft
    2022-09-01 0 days 1,902 sqft
    2022-10-01 0 days 1,777 sqft
    2022-11-01 0 days 1,667 sqft
    2022-12-01 0 days 1,819 sqft
    2023-01-01 0 days 1,692 sqft
    2023-02-01 0 days 1,707 sqft
    2023-03-01 0 days 1,556 sqft
    2023-04-01 0 days 1,714 sqft
    2023-05-01 0 days 1,551 sqft
    2023-06-01 0 days 1,958 sqft
    2023-07-01 0 days 1,953 sqft
    2023-08-01 0 days 2,047 sqft
    2023-09-01 0 days 2,130 sqft
    2023-10-01 0 days 2,096 sqft
    2023-11-01 0 days 2,132 sqft
    2023-12-01 0 days 1,855 sqft
    2024-01-01 0 days 1,678 sqft
    2024-02-01 0 days 1,744 sqft
    2024-03-01 0 days 1,816 sqft
    2024-04-01 0 days 1,832 sqft
    2024-05-01 0 days 2,346 sqft
    2024-06-01 0 days 2,172 sqft
    2024-07-01 0 days 2,079 sqft
    2024-08-01 0 days 2,081 sqft
    2024-09-01 0 days 2,079 sqft
    2024-10-01 0 days 1,994 sqft
    Greensburg's median listing age (time on market) for 2024-10-01 was 0 days.

    Greensburg's median square footage for active listings during the 2024-10-01 period was 1,994 sqft. One year prior, the average listing was 2,096 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).