Homosassa Springs FHA Loan Rates, Closing Costs & Stats

HOMOSASSA SPRINGS, FL

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.

Homosassa Springs's 125 lenders originated 931 FHA loans during 2021. The total origination value was $160,525,000, with an average FHA loan value of $172,422.

Homosassa Springs FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Homosassa Springs averaged 6.43% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Homosassa Springs's average FHA mortgage closing costs are $6,628.

The average rate for the prior week (2022-11-25) was 6.55% and one month ago for the week of 2022-10-28, the average rate was 6.99%.

The average rate one year ago was 3.32%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.38%.

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

Homosassa Springs 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 Homosassa Springs level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 152 2.76% $6,114
CALIBER HOME LOANS, INC. 43 2.99% $7,161
UNITED WHOLESALE MORTGAGE, LLC 38 2.92% $7,263
AMERIFIRST FINANCIAL CORPORATION 38 3.94% $7,689
Carrington Mortgage Services, LLC 30 3.77% $8,818
FREEDOM MORTGAGE CORPORATION 27 2.98% $4,991
Mr. Cooper ( Nationstar Mortgage ) 26 3.48% $3,656
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 20 3.39% $8,142
PENNYMAC LOAN SERVICES, LLC 19 3.21% $4,396
Paramount Residential Mortgage Group, Inc. 19 3.22% $8,310
PRIMARY RESIDENTIAL MORTGAGE, INC. 18 3.76% $7,865
LAKEVIEW LOAN SERVICING, LLC 16 3.21% $3,927
NATIONS RELIABLE LENDING, LLC 15 3.40% $7,912
VILLAGE CAPITAL MORTGAGE 15 3.10% $1,895
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 15 3.14% $7,721
OPEN MORTGAGE, LLC 13 2.97% $7,984
NEWREZ LLC 13 3.22% $4,424
BROKER SOLUTIONS, INC. 12 3.39% $8,349
HOME POINT FINANCIAL CORPORATION 10 2.95% $8,320
MOVEMENT MORTGAGE, LLC 10 3.61% $6,557
HOMEBRIDGE FINANCIAL SERVICES, INC. 10 3.37% $7,924
AMERICAN FINANCIAL NETWORK, INC. 9 3.30% $13,110
Mortgage Lenders Investment Trading Corporation 8 3.81% $4,306
CROSSCOUNTRY MORTGAGE, LLC 8 3.31% $9,021
GUARANTEED RATE, INC. 8 3.33% $9,052
Nations Lending Corporation 8 3.31% $11,048
SUCCESS MORTGAGE PARTNERS, INC. 7 3.20% $7,889
FBC MORTGAGE, LLC 7 3.14% $9,417
GSF Mortgage Corporation 7 3.43% $9,669
LOANDEPOT.COM, LLC 7 3.37% $7,735
SUN WEST MORTGAGE COMPANY, INC. 7 2.99% $7,922
THE MORTGAGE FIRM, INC. 6 3.48% $7,967
Regions Bank 6 2.63% $6,244
Equity Prime Mortgage LLC 5 3.43% $5,647
HOMESPIRE MORTGAGE CORPORATION 5 3.73% $8,260
Bank of America 5 2.85% $5,431
CELEBRITY HOME LOANS, LLC 5 3.25% $6,291
PLANET HOME LENDING, LLC 5 2.95% $3,152
Hometown Lenders, Inc. 4 3.91% $12,633
AmeriHome Mortgage Company, LLC 4 2.88% $3,826
NATIONS DIRECT MORTGAGE, LLC 4 3.22% $5,753
AMERICAN FINANCIAL RESOURCES, INC. 4 3.09% $6,761
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.38% $7,158
Hometown Equity Mortgage, LLC 3 3.25% $13,259
UNION HOME MORTGAGE CORP. 3 3.21% $6,264
Flagstar Bank, FSB 3 2.46% $6,977
MORIA DEVELOPMENT, INC. 3 3.21% $7,019
AMERICAN PACIFIC MORTGAGE CORPORATION 3 2.96% $9,408
Waterstone Mortgage Corporation 3 3.42% $10,348
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 3.19% $9,317
EQUITY RESOURCES, INC. 2 3.19% $7,412
ACADEMY MORTGAGE CORPORATION 2 3.50% $6,868
First Guaranty Mortgage Corporation 2 3.31% $5,673
First Home Bank 2 3.06% $14,353
GUILD MORTGAGE COMPANY 2 3.19% $8,227
HAMILTON HOME LOANS, INC. 2 3.62% $11,051
HOMESTAR FINANCIAL CORPORATION 2 2.88% $7,146
INSPIRE HOME LOANS INC. 2 3.00% $6,185
Ixonia Bank 2 2.63% $8,679
LEADERONE FINANCIAL CORPORATION 2 4.81% $11,686
LENDUS, LLC 2 3.31% $6,192
MORTGAGE EQUITY PARTNERS LLC 2 3.31% $9,651
Mortgage Research Center, LLC 2 3.50% $3,339
MUTUAL OF OMAHA MORTGAGE, INC. 2 3.00% $9,870
AMERISAVE MORTGAGE CORPORATION 2 3.06% $8,768
PANORAMA MORTGAGE GROUP, LLC 2 3.06% $8,719
AMERICAN FINANCING CORPORATION 2 3.44% $10,066
Prosperity Home Mortgage, LLC 2 4.25% $9,551
SECURITYNATIONAL MORTGAGE COMPANY 2 4.06% $10,595
The Home Loan Expert LLC 2 3.06% $7,067
UNITED MORTGAGE CORP. 2 2.56% $4,544
VAN DYK MORTGAGE CORPORATION 2 3.56% $6,390
EMBRACE HOME LOANS, INC. 2 3.25% $7,580
EMM LOANS LLC 2 3.06% $10,092
BancorpSouth Bank 1 2.75% $6,259
Commerce Home Mortgage, Inc. 1 3.13% $6,269
Atlantic Home Loans, Inc. 1 3.25% $6,302
ARC HOME LLC 1 2.75% $6,699
M&T Bank 1 3.25% $5,478
CITYWIDE HOME LOANS, LLC 1 3.50% $6,187
MYCUMORTGAGE, LLC 1 2.88% $10,808
NATION ONE MORTGAGE CORPORATION 1 4.38% $13,461
Centennial Bank 1 3.00% $6,008
EVERETT FINANCIAL, INC. 1 3.75% $6,897
GTE Federal Credit Union 1 2.88% $4,728
NETWORK CAPITAL FUNDING CORPORATION 1 3.50% $7,910
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 2.88% $9,248
NJ LENDERS CORP. 1 3.63% $7,953
OCEANSIDE MORTGAGE COMPANY 1 2.25% $2,815
GREAT WESTERN FINANCIAL SERVICES, INC. 1 3.13% $5,939
OVM FINANCIAL, INC. 1 2.88% $7,587
COMPASS MORTGAGE, INC. 1 3.13% $10,282
Paramount Bank 1 2.88% $7,631
Advance Financial Group, LLC 1 3.00% $7,968
Goldwater Bank, N.A. 1 3.50% $8,427
GERSHMAN INVESTMENT CORP. 1 2.88% $10,211
PLAZA HOME MORTGAGE, INC. 1 3.88% $7,618
POLARIS HOME FUNDING CORP. 1 2.38% $8,389
PREFERRED LENDING SERVICES, LLC 1 3.75% $7,391
ALLIED MORTGAGE GROUP, INC. 1 2.38% $13,830
CHAMPIONS MORTGAGE LLC 1 3.25% $8,650
U.S. Bank 1 2.63% $6,898
Alcova Mortgage LLC 1 3.13% $9,169
First Federal Bank 1 2.88% $8,465
VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.88% $5,556
SIGNATURE MORTGAGE CORPORATION 1 3.13% $7,905
SIRVA MORTGAGE, INC. 1 3.50% $7,999
SOUTHWEST STAGE FUNDING, LLC 1 3.38% $4,146
HOMESIDE FINANCIAL, LLC 1 3.75% $8,495
BAY EQUITY LLC 1 2.99% $6,165
STOCKTON MORTGAGE CORPORATION 1 2.50% $7,028
INTELLILOAN, INC. 1 2.38% $8,581
InterContinental Capital Group, Inc 1 3.25% $8,195
1ST SIGNATURE LENDING, LLC 1 3.38% $8,181
JET HOMELOANS, LLC 1 2.25% $7,165
JPMorgan Chase Bank 1 2.75% $4,981
Lakeview Community Capital, LLC 1 3.13% $3,814
HANCOCK MORTGAGE PARTNERS, LLC 1 3.50% $6,054
LAND HOME FINANCIAL SERVICES, INC. 1 3.75% $8,385
Summit Mortgage Corporation 1 3.00% $12,544
Wyndham Capital Mortgage, Inc. 1 2.63% $9,869
Wells Fargo Bank 1 4.00% $1,745
MICHIGAN MUTUAL, INC. 1 4.13% $9,435
GVC MORTGAGE, INC. 1 3.63% $8,547
TD Bank 1 2.88% $4,505

The top Homosassa Springs FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 152 FHA loans originated. Their average total fees are $6,114, which is $1,046 lower than the next largest lender, CALIBER HOME LOANS, INC..

The lowest fee Homosassa Springs FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($1,895), Mr. Cooper ( Nationstar Mortgage ) ($3,656), LAKEVIEW LOAN SERVICING, LLC ($3,927), PENNYMAC LOAN SERVICES, LLC ($4,396) and NEWREZ LLC ($4,424).

The lowest rate Homosassa Springs FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.76%), UNITED WHOLESALE MORTGAGE, LLC (2.92%), HOME POINT FINANCIAL CORPORATION (2.95%), OPEN MORTGAGE, LLC (2.97%) and FREEDOM MORTGAGE CORPORATION (2.98%).

Homosassa Springs FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
HOMOSASSA SPRINGS, FL CITRUS 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Homosassa Springs (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 $224,950 (12.9%) $278,771 (13.1%) 0.83 1,135
2018-02-01 $229,575 (15.4%) $278,371 (12.2%) 0.83 1,177
2018-03-01 $230,000 (15.1%) $276,441 (11.2%) 0.81 1,197
2018-04-01 $229,225 (14.7%) $275,590 (10.4%) 0.78 1,204
2018-05-01 $228,425 (13.1%) $273,889 (6.8%) 0.76 1,157
2018-06-01 $225,000 (9.8%) $275,133 (6.6%) 0.75 1,107
2018-07-01 $224,900 (12.8%) $272,808 (5.8%) 0.75 1,110
2018-08-01 $223,125 (14.2%) $268,676 (5.0%) 0.75 1,138
2018-09-01 $224,900 (15.3%) $274,809 (6.9%) 0.75 1,174
2018-10-01 $224,950 (13.1%) $274,484 (4.8%) 0.76 1,243
2018-11-01 $224,900 (9.7%) $273,735 (2.9%) 0.76 1,299
2018-12-01 $219,900 (0.8%) $263,580 (-4.3%) 0.76 1,388
2019-01-01 $219,800 (-2.3%) $262,593 (-5.8%) 0.76 1,402
2019-02-01 $212,975 (-7.2%) $268,016 (-3.7%) 0.72 1,432
2019-03-01 $216,543 (-5.9%) $273,272 (-1.2%) 0.71 1,387
2019-04-01 $218,450 (-4.7%) $275,218 (-0.1%) 0.69 1,305
2019-05-01 $217,450 (-4.8%) $271,755 (-0.8%) 0.68 1,234
2019-06-01 $219,900 (-2.3%) $273,124 (-0.7%) 0.69 1,136
2019-07-01 $214,950 (-4.4%) $265,140 (-2.8%) 0.67 1,102
2019-08-01 $212,591 (-4.7%) $267,106 (-0.6%) 0.67 1,068
2019-09-01 $216,477 (-3.8%) $271,486 (-1.2%) 0.69 1,063
2019-10-01 $219,068 (-2.6%) $276,606 (0.8%) 0.71 1,059
2019-11-01 $220,000 (-2.2%) $286,819 (4.8%) 0.72 1,062
2019-12-01 $219,500 (-0.2%) $287,306 (9.0%) 0.73 1,068
2020-01-01 $220,000 (0.1%) $288,169 (9.7%) 0.74 1,050
2020-02-01 $219,950 (3.3%) $284,953 (6.3%) 0.72 1,053
2020-03-01 $224,900 (3.9%) $293,830 (7.5%) 0.70 993
2020-04-01 $219,900 (0.7%) $289,404 (5.2%) 0.69 926
2020-05-01 $224,900 (3.4%) $298,462 (9.8%) 0.68 825
2020-06-01 $221,013 (0.5%) $295,824 (8.3%) 0.65 699
2020-07-01 $230,925 (7.4%) $312,449 (17.8%) 0.67 602
2020-08-01 $229,900 (8.1%) $309,825 (16.0%) 0.66 535
2020-09-01 $230,975 (6.7%) $320,738 (18.1%) 0.66 494
2020-10-01 $235,250 (7.4%) $314,673 (13.8%) 0.67 566
2020-11-01 $234,950 (6.8%) $311,387 (8.6%) 0.69 587
2020-12-01 $238,750 (8.8%) $329,452 (14.7%) 0.71 574
2021-01-01 $239,900 (9.1%) $335,628 (16.5%) 0.72 467
2021-02-01 $248,900 (13.2%) $376,937 (32.3%) 0.72 395
2021-03-01 $249,475 (10.9%) $389,997 (32.7%) 0.71 299
2021-04-01 $251,100 (14.2%) $376,734 (30.2%) 0.68 288
2021-05-01 $249,900 (11.1%) $397,886 (33.3%) 0.66 270
2021-06-01 $264,250 (19.6%) $401,000 (35.6%) 0.70 298
2021-07-01 $274,948 (19.1%) $407,072 (30.3%) 0.72 332
2021-08-01 $274,700 (19.5%) $410,102 (32.4%) 0.73 383
2021-09-01 $267,350 (15.8%) $408,292 (27.3%) 0.71 393
2021-10-01 $277,750 (18.1%) $417,407 (32.7%) 0.74 419
2021-11-01 $296,595 (26.2%) $436,012 (40.0%) 0.79 415
2021-12-01 $299,925 (25.6%) $444,540 (34.9%) 0.81 416
2022-01-01 $309,450 (29.0%) $461,385 (37.5%) 0.84 354
2022-02-01 $309,975 (24.5%) $466,461 (23.8%) 0.81 324
2022-03-01 $313,500 (25.7%) $461,263 (18.3%) 0.78 297
2022-04-01 $317,350 (26.4%) $433,198 (15.0%) 0.76 319
2022-05-01 $315,000 (26.1%) $423,959 (6.6%) 0.72 404
2022-06-01 $339,125 (28.3%) $455,787 (13.7%) 0.76 493
2022-07-01 $339,900 (23.6%) $435,180 (6.9%) 0.77 619
2022-08-01 $329,250 (19.9%) $408,443 (-0.4%) 0.76 660
2022-09-01 $319,900 (19.7%) $399,477 (-2.2%) 0.75 689
2022-10-01 $330,000 (18.8%) $409,063 (-2.0%) 0.78 743
2022-11-01 $327,250 (10.3%) $400,151 (-8.2%) 0.79 889
Homosassa Springs's median listing price for 2022-11-01 was $327,250, a difference of $30,655 (10.3%) versus the prior year and $-2,750 versus the prior month.

Homosassa Springs's median listing price comes in at 79% of the national average.

Homosassa Springs's average listing price for 2022-11-01 was $400,151, a difference of $-35,861 (-8.2%) versus the prior year and $-8,912 versus the prior month.

For the 2022-11-01 period, Homosassa Springs had 889 MLS listings, a difference of 146 listings (20%) versus the prior month and 474 listings (114%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Homosassa Springs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 80 days 1,869 sqft
2018-02-01 79 days 1,875 sqft
2018-03-01 69 days 1,882 sqft
2018-04-01 69 days 1,855 sqft
2018-05-01 73 days 1,848 sqft
2018-06-01 73 days 1,846 sqft
2018-07-01 79 days 1,831 sqft
2018-08-01 80 days 1,831 sqft
2018-09-01 79 days 1,830 sqft
2018-10-01 76 days 1,838 sqft
2018-11-01 74 days 1,841 sqft
2018-12-01 77 days 1,816 sqft
2019-01-01 82 days 1,822 sqft
2019-02-01 82 days 1,815 sqft
2019-03-01 80 days 1,809 sqft
2019-04-01 79 days 1,802 sqft
2019-05-01 81 days 1,796 sqft
2019-06-01 85 days 1,808 sqft
2019-07-01 85 days 1,789 sqft
2019-08-01 80 days 1,772 sqft
2019-09-01 77 days 1,773 sqft
2019-10-01 75 days 1,773 sqft
2019-11-01 73 days 1,817 sqft
2019-12-01 77 days 1,812 sqft
2020-01-01 80 days 1,816 sqft
2020-02-01 82 days 1,819 sqft
2020-03-01 77 days 1,829 sqft
2020-04-01 84 days 1,819 sqft
2020-05-01 93 days 1,818 sqft
2020-06-01 95 days 1,807 sqft
2020-07-01 73 days 1,820 sqft
2020-08-01 74 days 1,776 sqft
2020-09-01 67 days 1,741 sqft
2020-10-01 51 days 1,761 sqft
2020-11-01 51 days 1,727 sqft
2020-12-01 55 days 1,730 sqft
2021-01-01 63 days 1,726 sqft
2021-02-01 52 days 1,730 sqft
2021-03-01 44 days 1,706 sqft
2021-04-01 49 days 1,686 sqft
2021-05-01 43 days 1,651 sqft
2021-06-01 36 days 1,664 sqft
2021-07-01 38 days 1,701 sqft
2021-08-01 37 days 1,703 sqft
2021-09-01 42 days 1,704 sqft
2021-10-01 51 days 1,670 sqft
2021-11-01 47 days 1,753 sqft
2021-12-01 48 days 1,728 sqft
2022-01-01 47 days 1,725 sqft
2022-02-01 38 days 1,711 sqft
2022-03-01 36 days 1,695 sqft
2022-04-01 33 days 1,681 sqft
2022-05-01 30 days 1,677 sqft
2022-06-01 30 days 1,737 sqft
2022-07-01 35 days 1,725 sqft
2022-08-01 44 days 1,712 sqft
2022-09-01 49 days 1,704 sqft
2022-10-01 53 days 1,723 sqft
2022-11-01 51 days 1,718 sqft
Homosassa Springs's median listing age (time on market) for 2022-11-01 was 51 days. This is 7% longer than the same period one year ago.

Homosassa Springs's median square footage for active listings during the 2022-11-01 period was 1,718 sqft. One year prior, the average listing was 1,753 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).