Hannibal FHA Loan Rates, Closing Costs & Stats

Hannibal, MO

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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.

    Hannibal's 21 lenders originated 71 FHA loans during 2023. The total origination value was $11,755,000, with an average FHA loan value of $165,563.

    Hannibal FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Hannibal averaged 6.87% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Hannibal's average FHA mortgage closing costs are $5,440.

    The average rate for the prior week (2024-04-12) was 6.76% and one month ago for the week of 2024-03-15, the average rate was 6.63%.

    The average rate one year ago was 6.36%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Hannibal 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 Hannibal level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    THOMPSON KANE & COMPANY, LLC 37 6.65% $6,430
    FLAT BRANCH MORTGAGE, INC. 6 6.56% $7,180
    QUICKEN LOANS, LLC 5 6.27% $6,912
    LOANDEPOT.COM, LLC 3 6.58% $10,931
    LEADERONE FINANCIAL CORPORATION 2 7.00% $4,956
    Midwest Mortgage Associates Corporation 2 6.94% $8,301
    LOANPAL, LLC 1 6.13% $19,579
    Mortgage Investment Services Corporation 1 7.25% $8,301
    Mortgage Research Center, LLC 1 7.63% $1,753
    MOVEMENT MORTGAGE, LLC 1 5.50% $7,281
    Mr. Cooper ( Nationstar Mortgage ) 1 7.25% $12,614
    NEWREZ LLC 1 6.25% $7,484
    TruHome Solutions, LLC 1 5.88% $6,830
    UNITED WHOLESALE MORTGAGE, LLC 1 6.38% $11,219
    Commerce Bank 1 7.13% $7,952
    U.S. Bank 1 6.25% $3,095
    DAS Acquisition Company, LLC 1 6.38% $7,245
    DELMAR FINANCIAL COMPANY 1 6.75% $4,500
    Equity Prime Mortgage LLC 1 6.50% $5,049
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $6,365
    GERSHMAN INVESTMENT CORP. 1 8.25% $9,722

    The top Hannibal FHA lender as defined by loan originations is THOMPSON KANE & COMPANY, LLC, with 37 FHA loans originated. Their average total fees are $6,430, which is $749 lower than the next largest lender, FLAT BRANCH MORTGAGE, INC..

    The lowest fee Hannibal FHA lenders (with over 10 loans originated) are THOMPSON KANE & COMPANY, LLC ($6,430), .

    The lowest rate Hannibal FHA lenders (with over 10 loans originated) are THOMPSON KANE & COMPANY, LLC (6.65%), .

    Hannibal FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hannibal (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 $154,350 (18.7%) $206,925 (13.7%) 0.00 118
    2018-02-01 $158,675 (16.4%) $203,381 (11.3%) 0.00 102
    2018-03-01 $155,000 (11.4%) $209,946 (19.0%) 0.00 103
    2018-04-01 $149,900 (7.2%) $204,525 (15.3%) 0.00 104
    2018-05-01 $149,975 (8.2%) $202,220 (9.2%) 0.00 117
    2018-06-01 $141,700 (4.5%) $188,280 (5.1%) 0.00 117
    2018-07-01 $148,200 (9.8%) $192,198 (5.0%) 0.00 119
    2018-08-01 $147,750 (6.3%) $193,832 (1.3%) 0.00 119
    2018-09-01 $167,700 (15.7%) $215,105 (8.2%) 0.00 132
    2018-10-01 $151,000 (8.3%) $200,085 (1.3%) 0.00 128
    2018-11-01 $151,000 (9.1%) $197,672 (-3.5%) 0.00 129
    2018-12-01 $147,250 (5.2%) $194,388 (-6.7%) 0.00 125
    2019-01-01 $141,850 (-8.1%) $192,778 (-6.8%) 0.00 118
    2019-02-01 $150,000 (-5.5%) $200,982 (-1.2%) 0.00 108
    2019-03-01 $159,000 (2.6%) $199,235 (-5.1%) 0.00 104
    2019-04-01 $167,000 (11.4%) $196,642 (-3.9%) 0.00 98
    2019-05-01 $165,000 (10.0%) $188,367 (-6.9%) 0.00 108
    2019-06-01 $157,500 (11.2%) $187,439 (-0.5%) 0.00 112
    2019-07-01 $149,400 (0.8%) $183,968 (-4.3%) 0.00 124
    2019-08-01 $148,668 (0.6%) $188,149 (-2.9%) 0.00 118
    2019-09-01 $156,420 (-6.7%) $204,719 (-4.8%) 0.00 104
    2019-10-01 $159,114 (5.4%) $206,755 (3.3%) 0.00 95
    2019-11-01 $125,500 (-16.9%) $188,172 (-4.8%) 0.00 99
    2019-12-01 $126,600 (-14.0%) $184,108 (-5.3%) 0.00 92
    2020-01-01 $133,450 (-5.9%) $180,285 (-6.5%) 0.00 99
    2020-02-01 $155,000 (3.3%) $210,060 (4.5%) 0.00 77
    2020-03-01 $168,675 (6.1%) $216,985 (8.9%) 0.00 79
    2020-04-01 $148,250 (-11.2%) $210,274 (6.9%) 0.00 82
    2020-05-01 $154,450 (-6.4%) $209,789 (11.4%) 0.00 75
    2020-06-01 $157,725 (0.1%) $208,163 (11.1%) 0.00 63
    2020-07-01 $182,750 (22.3%) $227,680 (23.8%) 0.00 64
    2020-08-01 $169,900 (14.3%) $227,158 (20.7%) 0.00 64
    2020-09-01 $139,600 (-10.8%) $192,050 (-6.2%) 0.00 61
    2020-10-01 $142,500 (-10.4%) $191,753 (-7.3%) 0.00 58
    2020-11-01 $119,800 (-4.5%) $192,322 (2.2%) 0.00 50
    2020-12-01 $122,525 (-3.2%) $186,746 (1.4%) 0.00 46
    2021-01-01 $128,950 (-3.4%) $198,266 (10.0%) 0.00 41
    2021-02-01 $136,250 (-12.1%) $246,559 (17.4%) 0.00 42
    2021-03-01 $125,000 (-25.9%) $231,422 (6.7%) 0.00 37
    2021-04-01 $141,950 (-4.3%) $235,217 (11.9%) 0.00 37
    2021-05-01 $149,700 (-3.1%) $258,343 (23.1%) 0.00 37
    2021-06-01 $163,750 (3.8%) $305,147 (46.6%) 0.00 43
    2021-07-01 $162,400 (-11.1%) $286,645 (25.9%) 0.00 45
    2021-08-01 $162,850 (-4.2%) $283,209 (24.7%) 0.00 54
    2021-09-01 $178,375 (27.8%) $296,447 (54.4%) 0.00 46
    2021-10-01 $149,000 (4.6%) $309,284 (61.3%) 0.00 38
    2021-11-01 $143,125 (19.5%) $293,437 (52.6%) 0.00 46
    2021-12-01 $161,200 (31.6%) $268,608 (43.8%) 0.00 53
    2022-01-01 $170,000 (31.8%) $264,393 (33.4%) 0.00 49
    2022-02-01 $149,000 (9.4%) $228,452 (-7.3%) 0.00 47
    2022-03-01 $136,375 (9.1%) $227,086 (-1.9%) 0.00 42
    2022-04-01 $139,900 (-1.4%) $222,094 (-5.6%) 0.00 45
    2022-05-01 $163,725 (9.4%) $240,178 (-7.0%) 0.00 56
    2022-06-01 $193,675 (18.3%) $249,476 (-18.2%) 0.00 71
    2022-07-01 $232,000 (42.9%) $264,031 (-7.9%) 0.00 66
    2022-08-01 $178,750 (9.8%) $240,791 (-15.0%) 0.00 75
    2022-09-01 $177,250 (-0.6%) $230,937 (-22.1%) 0.00 72
    2022-10-01 $173,000 (16.1%) $224,090 (-27.6%) 0.00 69
    2022-11-01 $168,225 (17.5%) $217,361 (-25.9%) 0.00 68
    2022-12-01 $169,900 (5.4%) $226,675 (-15.6%) 0.00 59
    2023-01-01 $164,225 (-3.4%) $211,769 (-19.9%) 0.00 51
    2023-02-01 $182,450 (22.5%) $234,422 (2.6%) 0.00 47
    2023-03-01 $182,000 (33.5%) $259,337 (14.2%) 0.00 48
    2023-04-01 $180,000 (28.7%) $252,227 (13.6%) 0.00 40
    2023-05-01 $174,000 (6.3%) $264,917 (10.3%) 0.00 38
    2023-06-01 $197,250 (1.9%) $251,019 (0.6%) 0.00 41
    2023-07-01 $169,900 (-26.8%) $223,340 (-15.4%) 0.00 35
    2023-08-01 $220,750 (23.5%) $236,993 (-1.6%) 0.00 51
    2023-09-01 $210,000 (18.5%) $238,254 (3.2%) 0.00 52
    2023-10-01 $213,750 (23.6%) $242,765 (8.3%) 0.00 63
    2023-11-01 $225,000 (33.8%) $269,654 (24.1%) 0.00 69
    2023-12-01 $217,500 (28.0%) $263,877 (16.4%) 0.00 63
    2024-01-01 $219,750 (33.8%) $270,653 (27.8%) 0.00 47
    2024-02-01 $192,100 (5.3%) $258,902 (10.4%) 0.00 42
    2024-03-01 $184,950 (1.6%) $246,226 (-5.1%) 0.00 47
    Hannibal's median listing price for 2024-03-01 was $184,950, a difference of $2,950 (1.6%) versus the prior year and $-7,150 versus the prior month.

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

    Hannibal's average listing price for 2024-03-01 was $246,226, a difference of $-13,111 (-5.1%) versus the prior year and $-12,676 versus the prior month.

    For the 2024-03-01 period, Hannibal had 47 MLS listings, a difference of 5 listings (12%) versus the prior month and -1 listings (-2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hannibal (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,487 sqft
    2018-02-01 0 days 1,608 sqft
    2018-03-01 0 days 1,500 sqft
    2018-04-01 0 days 1,474 sqft
    2018-05-01 0 days 1,494 sqft
    2018-06-01 0 days 1,500 sqft
    2018-07-01 0 days 1,486 sqft
    2018-08-01 0 days 1,565 sqft
    2018-09-01 0 days 1,590 sqft
    2018-10-01 0 days 1,701 sqft
    2018-11-01 0 days 1,610 sqft
    2018-12-01 0 days 1,584 sqft
    2019-01-01 0 days 1,592 sqft
    2019-02-01 0 days 1,551 sqft
    2019-03-01 0 days 1,571 sqft
    2019-04-01 0 days 1,598 sqft
    2019-05-01 0 days 1,568 sqft
    2019-06-01 0 days 1,530 sqft
    2019-07-01 0 days 1,487 sqft
    2019-08-01 0 days 1,515 sqft
    2019-09-01 0 days 1,614 sqft
    2019-10-01 0 days 1,679 sqft
    2019-11-01 0 days 1,606 sqft
    2019-12-01 0 days 1,640 sqft
    2020-01-01 0 days 1,601 sqft
    2020-02-01 0 days 1,761 sqft
    2020-03-01 0 days 1,982 sqft
    2020-04-01 0 days 1,977 sqft
    2020-05-01 0 days 1,960 sqft
    2020-06-01 0 days 1,812 sqft
    2020-07-01 0 days 1,900 sqft
    2020-08-01 0 days 1,716 sqft
    2020-09-01 0 days 1,660 sqft
    2020-10-01 0 days 1,623 sqft
    2020-11-01 0 days 1,454 sqft
    2020-12-01 0 days 1,721 sqft
    2021-01-01 0 days 1,764 sqft
    2021-02-01 0 days 1,756 sqft
    2021-03-01 0 days 1,524 sqft
    2021-04-01 0 days 1,513 sqft
    2021-05-01 0 days 1,652 sqft
    2021-06-01 0 days 1,623 sqft
    2021-07-01 0 days 1,792 sqft
    2021-08-01 0 days 1,846 sqft
    2021-09-01 0 days 1,865 sqft
    2021-10-01 0 days 1,650 sqft
    2021-11-01 0 days 1,552 sqft
    2021-12-01 0 days 1,687 sqft
    2022-01-01 0 days 1,725 sqft
    2022-02-01 0 days 1,509 sqft
    2022-03-01 0 days 1,589 sqft
    2022-04-01 0 days 1,548 sqft
    2022-05-01 0 days 1,658 sqft
    2022-06-01 0 days 1,832 sqft
    2022-07-01 0 days 1,920 sqft
    2022-08-01 0 days 1,833 sqft
    2022-09-01 0 days 1,881 sqft
    2022-10-01 0 days 1,611 sqft
    2022-11-01 0 days 1,791 sqft
    2022-12-01 0 days 1,800 sqft
    2023-01-01 0 days 1,658 sqft
    2023-02-01 0 days 1,835 sqft
    2023-03-01 0 days 1,909 sqft
    2023-04-01 0 days 1,980 sqft
    2023-05-01 0 days 1,975 sqft
    2023-06-01 0 days 1,909 sqft
    2023-07-01 0 days 1,847 sqft
    2023-08-01 0 days 1,830 sqft
    2023-09-01 0 days 1,730 sqft
    2023-10-01 0 days 1,760 sqft
    2023-11-01 0 days 1,757 sqft
    2023-12-01 0 days 1,655 sqft
    2024-01-01 0 days 1,580 sqft
    2024-02-01 0 days 1,435 sqft
    2024-03-01 0 days 1,425 sqft
    Hannibal's median listing age (time on market) for 2024-03-01 was 0 days.

    Hannibal's median square footage for active listings during the 2024-03-01 period was 1,425 sqft. One year prior, the average listing was 1,909 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).