Hastings FHA Loan Rates, Closing Costs & Stats

Hastings, NE

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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.

    Hastings's 18 lenders originated 96 FHA loans during 2023. The total origination value was $17,200,000, with an average FHA loan value of $179,167.

    Hastings FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Hastings averaged 0.22% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Hastings's average FHA mortgage closing costs are $5,792.

    The average rate for the prior week (2024-11-08) was 6.63% and one month ago for the week of 2024-10-11, the average rate was 6.03%.

    The average rate one year ago was 7.28%.

    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.

    Hastings 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 Hastings level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CHARTER WEST BANK 18 6.38% $6,003
    QUICKEN LOANS, LLC 17 6.50% $9,118
    MORIA DEVELOPMENT, INC. 9 6.74% $8,249
    Pinnacle Bank 9 6.40% $6,734
    Gateway First Bank 5 6.45% $6,505
    First National Bank of Omaha 5 6.58% $4,963
    FREEDOM MORTGAGE CORPORATION 3 6.92% $13,287
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.00% $5,560
    U.S. Bank 3 6.67% $8,615
    Mortgage Research Center, LLC 2 6.81% $9,875
    Mr. Cooper ( Nationstar Mortgage ) 2 6.25% $11,672
    NBKC BANK 2 6.06% $8,628
    ZILLOW HOME LOANS, LLC 1 7.13% $8,068
    BROKER SOLUTIONS, INC. 1 7.25% $8,445
    CASTLE & COOKE MORTGAGE, LLC 1 7.63% $7,491
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $10,220
    The Federal Savings Bank 1 7.13% $12,484
    AMERICAN FINANCING CORPORATION 1 5.75% $12,246

    The top Hastings FHA lender as defined by loan originations is CHARTER WEST BANK, with 18 FHA loans originated. Their average total fees are $6,003, which is $3,115 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Hastings FHA lenders (with over 10 loans originated) are CHARTER WEST BANK ($6,003), QUICKEN LOANS, LLC ($9,118), .

    The lowest rate Hastings FHA lenders (with over 10 loans originated) are CHARTER WEST BANK (6.38%), QUICKEN LOANS, LLC (6.50%), .

    Hastings FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hastings (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 $175,350 (44.9%) $222,440 (32.7%) 0.00 50
    2018-02-01 $182,238 (25.7%) $237,375 (34.1%) 0.00 49
    2018-03-01 $165,750 (2.9%) $242,231 (31.8%) 0.00 47
    2018-04-01 $208,233 (51.4%) $238,996 (37.0%) 0.00 43
    2018-05-01 $203,233 (69.4%) $234,533 (47.4%) 0.00 50
    2018-06-01 $194,975 (57.6%) $245,672 (58.6%) 0.00 49
    2018-07-01 $181,875 (30.0%) $239,325 (42.5%) 0.00 58
    2018-08-01 $179,175 (30.3%) $222,311 (30.1%) 0.00 60
    2018-09-01 $175,950 (11.5%) $220,239 (20.7%) 0.00 64
    2018-10-01 $174,500 (13.7%) $220,763 (10.8%) 0.00 71
    2018-11-01 $174,000 (10.7%) $225,557 (7.1%) 0.00 60
    2018-12-01 $172,500 (-9.2%) $213,078 (-6.2%) 0.00 67
    2019-01-01 $177,950 (1.5%) $219,639 (-1.3%) 0.00 68
    2019-02-01 $178,400 (-2.1%) $226,912 (-4.4%) 0.00 65
    2019-03-01 $195,443 (17.9%) $235,471 (-2.8%) 0.00 59
    2019-04-01 $220,975 (6.1%) $242,815 (1.6%) 0.00 58
    2019-05-01 $243,725 (19.9%) $271,661 (15.8%) 0.00 55
    2019-06-01 $230,000 (18.0%) $248,202 (1.0%) 0.00 62
    2019-07-01 $198,375 (9.1%) $234,195 (-2.1%) 0.00 82
    2019-08-01 $193,364 (7.9%) $232,303 (4.5%) 0.00 81
    2019-09-01 $187,534 (6.6%) $229,547 (4.2%) 0.00 81
    2019-10-01 $183,648 (5.2%) $227,709 (3.2%) 0.00 81
    2019-11-01 $174,900 (0.5%) $222,528 (-1.3%) 0.00 79
    2019-12-01 $159,900 (-7.3%) $215,340 (1.1%) 0.00 74
    2020-01-01 $174,500 (-1.9%) $223,547 (1.8%) 0.00 55
    2020-02-01 $218,975 (22.7%) $245,541 (8.2%) 0.00 56
    2020-03-01 $216,713 (10.9%) $233,345 (-0.9%) 0.00 60
    2020-04-01 $226,850 (2.7%) $242,180 (-0.3%) 0.00 55
    2020-05-01 $228,000 (-6.5%) $258,588 (-4.8%) 0.00 51
    2020-06-01 $253,250 (10.1%) $265,357 (6.9%) 0.00 50
    2020-07-01 $186,475 (-6.0%) $239,586 (2.3%) 0.00 55
    2020-08-01 $186,000 (-3.8%) $243,836 (5.0%) 0.00 43
    2020-09-01 $176,200 (-6.0%) $222,248 (-3.2%) 0.00 44
    2020-10-01 $179,000 (-2.5%) $205,884 (-9.6%) 0.00 43
    2020-11-01 $164,900 (-5.7%) $195,916 (-12.0%) 0.00 40
    2020-12-01 $159,950 (0.0%) $187,082 (-13.1%) 0.00 39
    2021-01-01 $155,000 (-11.2%) $178,208 (-20.3%) 0.00 42
    2021-02-01 $159,925 (-27.0%) $186,158 (-24.2%) 0.00 31
    2021-03-01 $146,738 (-32.3%) $197,677 (-15.3%) 0.00 26
    2021-04-01 $232,500 (2.5%) $233,944 (-3.4%) 0.00 21
    2021-05-01 $199,950 (-12.3%) $252,203 (-2.5%) 0.00 25
    2021-06-01 $192,300 (-24.1%) $254,769 (-4.0%) 0.00 32
    2021-07-01 $159,750 (-14.3%) $189,510 (-20.9%) 0.00 33
    2021-08-01 $149,225 (-19.8%) $187,282 (-23.2%) 0.00 31
    2021-09-01 $143,975 (-18.3%) $195,033 (-12.3%) 0.00 36
    2021-10-01 $155,000 (-13.4%) $236,797 (15.0%) 0.00 36
    2021-11-01 $174,750 (6.0%) $295,640 (50.9%) 0.00 36
    2021-12-01 $161,500 (1.0%) $262,427 (40.3%) 0.00 32
    2022-01-01 $147,500 (-4.8%) $264,709 (48.5%) 0.00 25
    2022-02-01 $196,250 (22.7%) $278,174 (49.4%) 0.00 21
    2022-03-01 $186,850 (27.3%) $280,313 (41.8%) 0.00 21
    2022-04-01 $277,000 (19.1%) $315,025 (34.7%) 0.00 26
    2022-05-01 $294,500 (47.3%) $329,711 (30.7%) 0.00 33
    2022-06-01 $334,900 (74.2%) $355,240 (39.4%) 0.00 31
    2022-07-01 $317,425 (98.7%) $344,314 (81.7%) 0.00 32
    2022-08-01 $295,738 (98.2%) $309,642 (65.3%) 0.00 39
    2022-09-01 $279,000 (93.8%) $287,747 (47.5%) 0.00 39
    2022-10-01 $284,900 (83.8%) $312,994 (32.2%) 0.00 35
    2022-11-01 $272,250 (55.8%) $289,836 (-2.0%) 0.00 40
    2022-12-01 $250,000 (54.8%) $283,953 (8.2%) 0.00 44
    2023-01-01 $249,000 (68.8%) $286,612 (8.3%) 0.00 40
    2023-02-01 $265,000 (35.0%) $292,450 (5.1%) 0.00 32
    2023-03-01 $235,700 (26.1%) $274,971 (-1.9%) 0.00 34
    2023-04-01 $265,000 (-4.3%) $307,525 (-2.4%) 0.00 31
    2023-05-01 $267,250 (-9.3%) $310,373 (-5.9%) 0.00 24
    2023-06-01 $262,375 (-21.7%) $310,493 (-12.6%) 0.00 26
    2023-07-01 $279,900 (-11.8%) $328,527 (-4.6%) 0.00 28
    2023-08-01 $265,975 (-10.1%) $301,163 (-2.7%) 0.00 39
    2023-09-01 $255,000 (-8.6%) $291,628 (1.4%) 0.00 42
    2023-10-01 $241,000 (-15.4%) $289,621 (-7.5%) 0.00 42
    2023-11-01 $238,625 (-12.4%) $333,323 (15.0%) 0.00 47
    2023-12-01 $225,000 (-10.0%) $318,451 (12.2%) 0.00 52
    2024-01-01 $246,250 (-1.1%) $347,051 (21.1%) 0.00 40
    2024-02-01 $271,225 (2.4%) $377,859 (29.2%) 0.00 32
    2024-03-01 $277,000 (17.5%) $402,147 (46.3%) 0.00 31
    2024-04-01 $258,375 (-2.5%) $383,815 (24.8%) 0.00 35
    2024-05-01 $276,750 (3.6%) $415,889 (34.0%) 0.00 38
    2024-06-01 $275,000 (4.8%) $395,104 (27.3%) 0.00 54
    2024-07-01 $273,750 (-2.2%) $406,466 (23.7%) 0.00 53
    2024-08-01 $289,500 (8.8%) $329,103 (9.3%) 0.00 59
    2024-09-01 $275,475 (8.0%) $329,916 (13.1%) 0.00 53
    2024-10-01 $269,900 (12.0%) $317,264 (9.5%) 0.00 57
    Hastings's median listing price for 2024-10-01 was $269,900, a difference of $28,900 (12.0%) versus the prior year and $-5,575 versus the prior month.

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

    Hastings's average listing price for 2024-10-01 was $317,264, a difference of $27,643 (9.5%) versus the prior year and $-12,652 versus the prior month.

    For the 2024-10-01 period, Hastings had 57 MLS listings, a difference of 4 listings (8%) versus the prior month and 15 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hastings (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,565 sqft
    2018-02-01 0 days 1,589 sqft
    2018-03-01 0 days 1,559 sqft
    2018-04-01 0 days 1,517 sqft
    2018-05-01 0 days 1,529 sqft
    2018-06-01 0 days 1,582 sqft
    2018-07-01 0 days 1,532 sqft
    2018-08-01 0 days 1,568 sqft
    2018-09-01 0 days 1,639 sqft
    2018-10-01 0 days 1,628 sqft
    2018-11-01 0 days 1,649 sqft
    2018-12-01 0 days 1,551 sqft
    2019-01-01 0 days 1,607 sqft
    2019-02-01 0 days 1,569 sqft
    2019-03-01 0 days 1,528 sqft
    2019-04-01 0 days 1,526 sqft
    2019-05-01 0 days 1,778 sqft
    2019-06-01 0 days 1,688 sqft
    2019-07-01 0 days 1,535 sqft
    2019-08-01 0 days 1,588 sqft
    2019-09-01 0 days 1,675 sqft
    2019-10-01 0 days 1,825 sqft
    2019-11-01 0 days 2,225 sqft
    2019-12-01 0 days 1,972 sqft
    2020-01-01 0 days 2,219 sqft
    2020-02-01 0 days 2,322 sqft
    2020-03-01 0 days 2,244 sqft
    2020-04-01 0 days 2,355 sqft
    2020-05-01 0 days 2,180 sqft
    2020-06-01 0 days 2,300 sqft
    2020-07-01 0 days 2,288 sqft
    2020-08-01 0 days 2,364 sqft
    2020-09-01 0 days 2,186 sqft
    2020-10-01 0 days 2,080 sqft
    2020-11-01 0 days 2,092 sqft
    2020-12-01 0 days 2,038 sqft
    2021-01-01 0 days 1,959 sqft
    2021-02-01 0 days 2,041 sqft
    2021-03-01 0 days 2,244 sqft
    2021-04-01 0 days 2,467 sqft
    2021-05-01 0 days 2,115 sqft
    2021-06-01 0 days 1,996 sqft
    2021-07-01 0 days 1,713 sqft
    2021-08-01 0 days 1,726 sqft
    2021-09-01 0 days 1,742 sqft
    2021-10-01 0 days 2,002 sqft
    2021-11-01 0 days 2,106 sqft
    2021-12-01 0 days 2,005 sqft
    2022-01-01 0 days 1,918 sqft
    2022-02-01 0 days 2,136 sqft
    2022-03-01 0 days 2,248 sqft
    2022-04-01 0 days 2,760 sqft
    2022-05-01 0 days 2,697 sqft
    2022-06-01 0 days 2,784 sqft
    2022-07-01 0 days 2,903 sqft
    2022-08-01 0 days 2,760 sqft
    2022-09-01 0 days 2,374 sqft
    2022-10-01 0 days 2,518 sqft
    2022-11-01 0 days 2,298 sqft
    2022-12-01 0 days 2,130 sqft
    2023-01-01 0 days 2,216 sqft
    2023-02-01 0 days 2,221 sqft
    2023-03-01 0 days 2,189 sqft
    2023-04-01 0 days 2,665 sqft
    2023-05-01 0 days 2,240 sqft
    2023-06-01 0 days 2,048 sqft
    2023-07-01 0 days 2,520 sqft
    2023-08-01 0 days 2,557 sqft
    2023-09-01 0 days 2,455 sqft
    2023-10-01 0 days 2,390 sqft
    2023-11-01 0 days 2,372 sqft
    2023-12-01 0 days 2,254 sqft
    2024-01-01 0 days 2,341 sqft
    2024-02-01 0 days 2,650 sqft
    2024-03-01 0 days 2,666 sqft
    2024-04-01 0 days 2,595 sqft
    2024-05-01 0 days 2,629 sqft
    2024-06-01 0 days 2,663 sqft
    2024-07-01 0 days 2,695 sqft
    2024-08-01 0 days 2,659 sqft
    2024-09-01 0 days 2,740 sqft
    2024-10-01 0 days 2,886 sqft
    Hastings's median listing age (time on market) for 2024-10-01 was 0 days.

    Hastings's median square footage for active listings during the 2024-10-01 period was 2,886 sqft. One year prior, the average listing was 2,390 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).