Huntington FHA Loan Rates, Closing Costs & Stats

Huntington, 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.

    Huntington's 34 lenders originated 84 FHA loans during 2023. The total origination value was $14,770,000, with an average FHA loan value of $175,833.

    Huntington FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Huntington averaged 7.04% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Huntington's average FHA mortgage closing costs are $5,271.

    The average rate for the prior week (2024-04-12) was 6.93% and one month ago for the week of 2024-03-15, the average rate was 7%.

    The average rate one year ago was 6.33%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

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

    Huntington 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 Huntington level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    RUOFF MORTGAGE COMPANY, INC. 13 7.10% $4,904
    QUICKEN LOANS, LLC 12 6.47% $7,065
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 4 7.19% $10,261
    UNION HOME MORTGAGE CORP. 4 6.88% $12,317
    POLARIS HOME FUNDING CORP. 4 6.72% $8,733
    TEACHERS CREDIT UNION 3 6.63% $6,033
    Carrington Mortgage Services, LLC 2 6.13% $8,738
    LOANDEPOT.COM, LLC 2 6.31% $8,243
    LOANPAL, LLC 2 6.99% $7,218
    V.I.P. MORTGAGE, INC. 2 7.00% $8,364
    MICHIGAN MUTUAL, INC. 2 7.63% $8,385
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.75% $16,429
    Blue Ridge Bank 2 7.12% $5,999
    GVC MORTGAGE, INC. 2 7.37% $6,770
    HALLMARK HOME MORTGAGE, LLC 2 6.56% $8,359
    PENNYMAC LOAN SERVICES, LLC 1 5.63% $12,319
    PLANET HOME LENDING, LLC 1 5.38% $4,956
    STOCKTON MORTGAGE CORPORATION 1 6.75% $4,632
    VAN DYK MORTGAGE CORPORATION 1 7.13% $11,505
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $6,371
    ACADEMY MORTGAGE CORPORATION 1 7.25% $13,056
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.75% $7,059
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $9,272
    Bank of England 1 6.00% $4,051
    CALIBER HOME LOANS, INC. 1 6.75% $7,931
    Citizens Bank 1 6.88% $7,369
    CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $12,615
    DHI MORTGAGE COMPANY, LTD. 1 4.99% $6,052
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.63% $4,044
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.63% $7,596
    FREEDOM MORTGAGE CORPORATION 1 7.25% $10,161
    1ST SIGNATURE LENDING, LLC 1 6.25% $12,597
    Nations Lending Corporation 1 7.50% $7,056
    NFM, INC. 1 5.63% $8,271

    The top Huntington FHA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 13 FHA loans originated. Their average total fees are $4,904, which is $2,160 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Huntington FHA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($4,904), QUICKEN LOANS, LLC ($7,065), .

    The lowest rate Huntington FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.47%), RUOFF MORTGAGE COMPANY, INC. (7.10%), .

    Huntington FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Huntington (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 $126,500 (58.3%) $155,011 (28.8%) 0.00 99
    2018-02-01 $112,436 (39.5%) $151,288 (24.4%) 0.00 98
    2018-03-01 $122,900 (46.1%) $159,286 (27.6%) 0.00 89
    2018-04-01 $123,150 (46.8%) $166,051 (24.3%) 0.00 89
    2018-05-01 $127,400 (50.1%) $166,958 (24.6%) 0.00 100
    2018-06-01 $114,900 (26.9%) $156,673 (12.2%) 0.00 110
    2018-07-01 $99,925 (9.5%) $153,923 (6.6%) 0.00 100
    2018-08-01 $128,425 (22.4%) $168,752 (8.8%) 0.00 98
    2018-09-01 $126,650 (10.1%) $158,270 (-8.3%) 0.00 108
    2018-10-01 $104,900 (-17.8%) $148,555 (-18.4%) 0.00 106
    2018-11-01 $94,700 (-25.2%) $144,791 (-15.1%) 0.00 97
    2018-12-01 $92,700 (-22.7%) $148,382 (-3.2%) 0.00 96
    2019-01-01 $106,150 (-16.1%) $156,390 (0.9%) 0.00 99
    2019-02-01 $134,695 (19.8%) $164,452 (8.7%) 0.00 93
    2019-03-01 $152,149 (23.8%) $166,835 (4.7%) 0.00 91
    2019-04-01 $158,593 (28.8%) $167,899 (1.1%) 0.00 96
    2019-05-01 $151,970 (19.3%) $160,589 (-3.8%) 0.00 105
    2019-06-01 $149,900 (30.5%) $166,946 (6.6%) 0.00 105
    2019-07-01 $149,950 (50.1%) $183,355 (19.1%) 0.00 107
    2019-08-01 $146,982 (14.5%) $175,055 (3.7%) 0.00 119
    2019-09-01 $142,605 (12.6%) $167,126 (5.6%) 0.00 128
    2019-10-01 $138,300 (31.8%) $158,603 (6.8%) 0.00 132
    2019-11-01 $132,000 (39.4%) $153,874 (6.3%) 0.00 122
    2019-12-01 $116,225 (25.4%) $140,328 (-5.4%) 0.00 122
    2020-01-01 $122,475 (15.4%) $138,331 (-11.6%) 0.00 93
    2020-02-01 $89,950 (-33.2%) $119,992 (-27.0%) 0.00 81
    2020-03-01 $98,400 (-35.3%) $127,088 (-23.8%) 0.00 92
    2020-04-01 $107,975 (-31.9%) $134,040 (-20.2%) 0.00 98
    2020-05-01 $119,900 (-21.1%) $140,412 (-12.6%) 0.00 92
    2020-06-01 $119,900 (-20.0%) $139,780 (-16.3%) 0.00 72
    2020-07-01 $114,200 (-23.8%) $167,966 (-8.4%) 0.00 57
    2020-08-01 $139,900 (-4.8%) $203,312 (16.1%) 0.00 47
    2020-09-01 $130,450 (-8.5%) $218,793 (30.9%) 0.00 48
    2020-10-01 $119,400 (-13.7%) $213,823 (34.8%) 0.00 50
    2020-11-01 $93,550 (-29.1%) $184,502 (19.9%) 0.00 49
    2020-12-01 $87,950 (-24.3%) $174,055 (24.0%) 0.00 39
    2021-01-01 $94,900 (-22.5%) $193,066 (39.6%) 0.00 26
    2021-02-01 $171,350 (90.5%) $245,161 (104.3%) 0.00 17
    2021-03-01 $212,175 (115.6%) $283,115 (122.8%) 0.00 19
    2021-04-01 $210,987 (95.4%) $305,752 (128.1%) 0.00 20
    2021-05-01 $160,000 (33.4%) $247,493 (76.3%) 0.00 20
    2021-06-01 $112,450 (-6.2%) $205,052 (46.7%) 0.00 30
    2021-07-01 $113,550 (-0.6%) $206,618 (23.0%) 0.00 38
    2021-08-01 $152,925 (9.3%) $201,645 (-0.8%) 0.00 45
    2021-09-01 $123,950 (-5.0%) $202,472 (-7.5%) 0.00 44
    2021-10-01 $113,450 (-5.0%) $191,623 (-10.4%) 0.00 47
    2021-11-01 $108,875 (16.4%) $173,345 (-6.1%) 0.00 51
    2021-12-01 $121,625 (38.3%) $209,204 (20.2%) 0.00 39
    2022-01-01 $145,000 (52.8%) $217,672 (12.8%) 0.00 31
    2022-02-01 $122,475 (-28.5%) $209,012 (-14.8%) 0.00 21
    2022-03-01 $148,625 (-30.0%) $176,443 (-37.7%) 0.00 15
    2022-04-01 $195,000 (-7.6%) $200,728 (-34.4%) 0.00 23
    2022-05-01 $220,967 (38.1%) $328,495 (32.7%) 0.00 27
    2022-06-01 $182,225 (62.1%) $282,934 (38.0%) 0.00 39
    2022-07-01 $162,411 (43.0%) $296,510 (43.5%) 0.00 39
    2022-08-01 $222,400 (45.4%) $368,629 (82.8%) 0.00 43
    2022-09-01 $197,450 (59.3%) $357,825 (76.7%) 0.00 46
    2022-10-01 $247,400 (118.1%) $399,422 (108.4%) 0.00 42
    2022-11-01 $264,400 (142.9%) $409,244 (136.1%) 0.00 38
    2022-12-01 $259,786 (113.6%) $323,762 (54.8%) 0.00 37
    2023-01-01 $250,172 (72.5%) $272,280 (25.1%) 0.00 24
    2023-02-01 $254,115 (107.5%) $254,052 (21.6%) 0.00 26
    2023-03-01 $254,115 (71.0%) $282,272 (60.0%) 0.00 30
    2023-04-01 $248,963 (27.7%) $353,971 (76.3%) 0.00 24
    2023-05-01 $198,750 (-10.1%) $303,340 (-7.7%) 0.00 30
    2023-06-01 $223,441 (22.6%) $327,416 (15.7%) 0.00 29
    2023-07-01 $224,900 (38.5%) $238,130 (-19.7%) 0.00 40
    2023-08-01 $208,700 (-6.2%) $247,257 (-32.9%) 0.00 43
    2023-09-01 $194,500 (-1.5%) $227,673 (-36.4%) 0.00 47
    2023-10-01 $183,500 (-25.8%) $220,617 (-44.8%) 0.00 56
    2023-11-01 $188,425 (-28.7%) $225,991 (-44.8%) 0.00 63
    2023-12-01 $230,000 (-11.5%) $268,119 (-17.2%) 0.00 54
    2024-01-01 $240,500 (-3.9%) $264,729 (-2.8%) 0.00 53
    2024-02-01 $243,177 (-4.3%) $249,754 (-1.7%) 0.00 51
    2024-03-01 $259,900 (2.3%) $260,073 (-7.9%) 0.00 43
    Huntington's median listing price for 2024-03-01 was $259,900, a difference of $5,785 (2.3%) versus the prior year and $16,723 versus the prior month.

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

    Huntington's average listing price for 2024-03-01 was $260,073, a difference of $-22,199 (-7.9%) versus the prior year and $10,319 versus the prior month.

    For the 2024-03-01 period, Huntington had 43 MLS listings, a difference of -8 listings (-16%) versus the prior month and 13 listings (43%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Huntington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,722 sqft
    2018-02-01 0 days 1,686 sqft
    2018-03-01 0 days 1,696 sqft
    2018-04-01 0 days 1,737 sqft
    2018-05-01 0 days 1,735 sqft
    2018-06-01 0 days 1,645 sqft
    2018-07-01 0 days 1,628 sqft
    2018-08-01 0 days 1,742 sqft
    2018-09-01 0 days 1,791 sqft
    2018-10-01 0 days 1,769 sqft
    2018-11-01 0 days 1,699 sqft
    2018-12-01 0 days 1,699 sqft
    2019-01-01 0 days 1,680 sqft
    2019-02-01 0 days 1,747 sqft
    2019-03-01 0 days 1,763 sqft
    2019-04-01 0 days 1,763 sqft
    2019-05-01 0 days 1,801 sqft
    2019-06-01 0 days 1,811 sqft
    2019-07-01 0 days 1,811 sqft
    2019-08-01 0 days 1,811 sqft
    2019-09-01 0 days 1,811 sqft
    2019-10-01 0 days 1,811 sqft
    2019-11-01 0 days 1,811 sqft
    2019-12-01 0 days 1,737 sqft
    2020-01-01 0 days 1,710 sqft
    2020-02-01 0 days 1,534 sqft
    2020-03-01 0 days 1,567 sqft
    2020-04-01 0 days 1,541 sqft
    2020-05-01 0 days 1,642 sqft
    2020-06-01 0 days 1,614 sqft
    2020-07-01 0 days 1,623 sqft
    2020-08-01 0 days 1,717 sqft
    2020-09-01 0 days 1,716 sqft
    2020-10-01 0 days 1,564 sqft
    2020-11-01 0 days 1,516 sqft
    2020-12-01 0 days 1,406 sqft
    2021-01-01 0 days 1,525 sqft
    2021-02-01 0 days 1,707 sqft
    2021-03-01 0 days 1,736 sqft
    2021-04-01 0 days 1,732 sqft
    2021-05-01 0 days 1,606 sqft
    2021-06-01 0 days 1,691 sqft
    2021-07-01 0 days 1,709 sqft
    2021-08-01 0 days 1,744 sqft
    2021-09-01 0 days 1,700 sqft
    2021-10-01 0 days 1,606 sqft
    2021-11-01 0 days 1,596 sqft
    2021-12-01 0 days 1,745 sqft
    2022-01-01 0 days 1,815 sqft
    2022-02-01 0 days 1,641 sqft
    2022-03-01 0 days 1,554 sqft
    2022-04-01 0 days 1,655 sqft
    2022-05-01 0 days 1,695 sqft
    2022-06-01 0 days 1,794 sqft
    2022-07-01 0 days 1,669 sqft
    2022-08-01 0 days 1,882 sqft
    2022-09-01 0 days 1,892 sqft
    2022-10-01 0 days 1,932 sqft
    2022-11-01 0 days 1,940 sqft
    2022-12-01 0 days 1,772 sqft
    2023-01-01 0 days 1,495 sqft
    2023-02-01 0 days 1,511 sqft
    2023-03-01 0 days 1,603 sqft
    2023-04-01 0 days 1,539 sqft
    2023-05-01 0 days 1,493 sqft
    2023-06-01 0 days 1,798 sqft
    2023-07-01 0 days 1,669 sqft
    2023-08-01 0 days 1,627 sqft
    2023-09-01 0 days 1,569 sqft
    2023-10-01 0 days 1,574 sqft
    2023-11-01 0 days 1,595 sqft
    2023-12-01 0 days 1,641 sqft
    2024-01-01 0 days 1,607 sqft
    2024-02-01 0 days 1,562 sqft
    2024-03-01 0 days 1,697 sqft
    Huntington's median listing age (time on market) for 2024-03-01 was 0 days.

    Huntington's median square footage for active listings during the 2024-03-01 period was 1,697 sqft. One year prior, the average listing was 1,603 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).