Huron FHA Loan Rates, Closing Costs & Stats

Huron, SD

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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.

    Huron's 10 lenders originated 24 FHA loans during 2023. The total origination value was $3,400,000, with an average FHA loan value of $141,667.

    Huron FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Huron averaged 6.16% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Huron's average FHA mortgage closing costs are $5,979.

    The average rate for the prior week (2025-02-07) was 6.57% and one month ago for the week of 2025-01-10, the average rate was 6.23%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.32%.

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

    Huron 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 Huron level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    American Bank & Trust 6 6.21% $4,968
    First National Bank 5 6.65% $7,719
    Plains Commerce Bank 3 6.08% $5,739
    QUICKEN LOANS, LLC 2 5.99% $5,827
    LOANDEPOT.COM, LLC 1 6.99% $10,955
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.00% $7,977
    Servion, Inc. 1 6.50% $3,887
    BANKWEST, INC. 1 7.00% $8,685
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.63% $5,634
    First PREMIER Bank 1 7.50% $4,785

    The top Huron FHA lender as defined by loan originations is American Bank & Trust, with 6 FHA loans originated. Their average total fees are $4,968, which is $2,751 lower than the next largest lender, First National Bank.

    The lowest fee Huron FHA lenders (with over 10 loans originated) are .

    The lowest rate Huron FHA lenders (with over 10 loans originated) are .

    Huron FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Huron (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 $149,675 (4.2%) $184,752 (15.1%) 0.00 94
    2018-02-01 $149,950 (10.1%) $189,863 (21.5%) 0.00 90
    2018-03-01 $167,400 (14.5%) $194,141 (22.8%) 0.00 96
    2018-04-01 $179,900 (26.3%) $193,394 (24.1%) 0.00 105
    2018-05-01 $179,000 (19.4%) $191,521 (15.4%) 0.00 112
    2018-06-01 $172,450 (14.5%) $189,677 (7.1%) 0.00 120
    2018-07-01 $168,725 (7.5%) $185,613 (5.0%) 0.00 130
    2018-08-01 $160,425 (0.3%) $182,410 (-1.8%) 0.00 132
    2018-09-01 $159,900 (4.6%) $179,468 (-1.8%) 0.00 133
    2018-10-01 $159,500 (7.0%) $177,600 (-2.4%) 0.00 122
    2018-11-01 $163,200 (14.6%) $178,002 (-0.8%) 0.00 112
    2018-12-01 $159,900 (15.1%) $176,538 (-1.9%) 0.00 110
    2019-01-01 $159,000 (6.2%) $174,181 (-5.7%) 0.00 100
    2019-02-01 $157,625 (5.1%) $171,279 (-9.8%) 0.00 100
    2019-03-01 $157,100 (-6.2%) $173,621 (-10.6%) 0.00 95
    2019-04-01 $163,200 (-9.3%) $179,871 (-7.0%) 0.00 93
    2019-05-01 $161,925 (-9.5%) $175,404 (-8.4%) 0.00 99
    2019-06-01 $159,450 (-7.5%) $176,971 (-6.7%) 0.00 101
    2019-07-01 $159,225 (-5.6%) $172,174 (-7.2%) 0.00 106
    2019-08-01 $154,664 (-3.6%) $171,071 (-6.2%) 0.00 116
    2019-09-01 $151,984 (-5.0%) $175,711 (-2.1%) 0.00 116
    2019-10-01 $150,198 (-5.8%) $178,805 (0.7%) 0.00 117
    2019-11-01 $157,250 (-3.7%) $178,569 (0.3%) 0.00 108
    2019-12-01 $154,700 (-3.3%) $178,265 (1.0%) 0.00 103
    2020-01-01 $153,650 (-3.4%) $169,475 (-2.7%) 0.00 100
    2020-02-01 $158,250 (0.4%) $173,648 (1.4%) 0.00 106
    2020-03-01 $157,975 (0.6%) $180,264 (3.8%) 0.00 101
    2020-04-01 $156,125 (-4.3%) $182,204 (1.3%) 0.00 94
    2020-05-01 $159,950 (-1.2%) $174,369 (-0.6%) 0.00 98
    2020-06-01 $159,350 (-0.1%) $169,062 (-4.5%) 0.00 95
    2020-07-01 $159,700 (0.3%) $165,754 (-3.7%) 0.00 80
    2020-08-01 $159,000 (2.8%) $172,148 (0.6%) 0.00 79
    2020-09-01 $164,950 (8.5%) $177,973 (1.3%) 0.00 78
    2020-10-01 $154,950 (3.2%) $171,279 (-4.2%) 0.00 76
    2020-11-01 $146,310 (-7.0%) $158,159 (-11.4%) 0.00 80
    2020-12-01 $147,925 (-4.4%) $161,921 (-9.2%) 0.00 71
    2021-01-01 $149,900 (-2.4%) $164,039 (-3.2%) 0.00 60
    2021-02-01 $148,475 (-6.2%) $173,412 (-0.1%) 0.00 55
    2021-03-01 $154,425 (-2.3%) $187,402 (4.0%) 0.00 54
    2021-04-01 $153,650 (-1.6%) $224,316 (23.1%) 0.00 55
    2021-05-01 $179,450 (12.2%) $239,671 (37.5%) 0.00 48
    2021-06-01 $188,900 (18.5%) $252,009 (49.1%) 0.00 42
    2021-07-01 $199,700 (25.1%) $277,790 (67.6%) 0.00 37
    2021-08-01 $180,400 (13.5%) $272,612 (58.4%) 0.00 39
    2021-09-01 $182,025 (10.4%) $272,915 (53.4%) 0.00 42
    2021-10-01 $176,950 (14.2%) $263,533 (53.9%) 0.00 45
    2021-11-01 $165,913 (13.4%) $259,365 (64.0%) 0.00 46
    2021-12-01 $164,225 (11.0%) $257,358 (58.9%) 0.00 45
    2022-01-01 $158,700 (5.9%) $264,212 (61.1%) 0.00 36
    2022-02-01 $178,450 (20.2%) $253,317 (46.1%) 0.00 33
    2022-03-01 $157,300 (1.9%) $241,955 (29.1%) 0.00 28
    2022-04-01 $182,000 (18.5%) $261,527 (16.6%) 0.00 24
    2022-05-01 $178,750 (-0.4%) $250,314 (4.4%) 0.00 27
    2022-06-01 $195,000 (3.2%) $262,915 (4.3%) 0.00 27
    2022-07-01 $164,700 (-17.5%) $222,568 (-19.9%) 0.00 36
    2022-08-01 $160,100 (-11.3%) $213,263 (-21.8%) 0.00 43
    2022-09-01 $167,000 (-8.3%) $222,363 (-18.5%) 0.00 39
    2022-10-01 $194,950 (10.2%) $242,231 (-8.1%) 0.00 37
    2022-11-01 $188,725 (13.8%) $242,166 (-6.6%) 0.00 37
    2022-12-01 $209,000 (27.3%) $261,017 (1.4%) 0.00 37
    2023-01-01 $197,950 (24.7%) $248,426 (-6.0%) 0.00 36
    2023-02-01 $206,725 (15.8%) $260,733 (2.9%) 0.00 35
    2023-03-01 $199,900 (27.1%) $264,944 (9.5%) 0.00 37
    2023-04-01 $210,000 (15.4%) $272,762 (4.3%) 0.00 36
    2023-05-01 $204,900 (14.6%) $260,216 (4.0%) 0.00 46
    2023-06-01 $212,500 (9.0%) $268,616 (2.2%) 0.00 48
    2023-07-01 $227,250 (38.0%) $269,156 (20.9%) 0.00 43
    2023-08-01 $245,250 (53.2%) $277,784 (30.3%) 0.00 42
    2023-09-01 $249,450 (49.4%) $286,207 (28.7%) 0.00 37
    2023-10-01 $205,675 (5.5%) $246,416 (1.7%) 0.00 36
    2023-11-01 $217,000 (15.0%) $248,946 (2.8%) 0.00 37
    2023-12-01 $191,950 (-8.2%) $233,347 (-10.6%) 0.00 37
    2024-01-01 $184,700 (-6.7%) $202,718 (-18.4%) 0.00 39
    2024-02-01 $175,950 (-14.9%) $206,267 (-20.9%) 0.00 39
    2024-03-01 $189,000 (-5.5%) $219,795 (-17.0%) 0.00 41
    2024-04-01 $201,675 (-4.0%) $241,091 (-11.6%) 0.00 42
    2024-05-01 $218,250 (6.5%) $248,954 (-4.3%) 0.00 46
    2024-06-01 $249,900 (17.6%) $301,369 (12.2%) 0.00 40
    2024-07-01 $249,900 (10.0%) $288,633 (7.2%) 0.00 43
    2024-08-01 $230,000 (-6.2%) $265,078 (-4.6%) 0.00 47
    2024-09-01 $238,500 (-4.4%) $273,311 (-4.5%) 0.00 38
    2024-10-01 $219,350 (6.7%) $258,834 (5.0%) 0.00 59
    2024-11-01 $209,900 (-3.3%) $260,525 (4.7%) 0.00 79
    2024-12-01 $214,950 (12.0%) $276,881 (18.7%) 0.00 41
    2025-01-01 $228,750 (23.9%) $300,006 (48.0%) 0.00 32
    Huron's median listing price for 2025-01-01 was $228,750, a difference of $44,050 (23.9%) versus the prior year and $13,800 versus the prior month.

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

    Huron's average listing price for 2025-01-01 was $300,006, a difference of $97,288 (48.0%) versus the prior year and $23,125 versus the prior month.

    For the 2025-01-01 period, Huron had 32 MLS listings, a difference of -9 listings (-22%) versus the prior month and -7 listings (-18%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Huron (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,139 sqft
    2018-02-01 0 days 2,195 sqft
    2018-03-01 0 days 2,206 sqft
    2018-04-01 0 days 2,239 sqft
    2018-05-01 0 days 2,176 sqft
    2018-06-01 0 days 2,176 sqft
    2018-07-01 0 days 2,192 sqft
    2018-08-01 0 days 2,178 sqft
    2018-09-01 0 days 2,176 sqft
    2018-10-01 0 days 2,176 sqft
    2018-11-01 0 days 2,176 sqft
    2018-12-01 0 days 2,144 sqft
    2019-01-01 0 days 2,140 sqft
    2019-02-01 0 days 2,136 sqft
    2019-03-01 0 days 2,153 sqft
    2019-04-01 0 days 2,176 sqft
    2019-05-01 0 days 2,166 sqft
    2019-06-01 0 days 2,156 sqft
    2019-07-01 0 days 2,161 sqft
    2019-08-01 0 days 2,068 sqft
    2019-09-01 0 days 2,048 sqft
    2019-10-01 0 days 2,034 sqft
    2019-11-01 0 days 2,076 sqft
    2019-12-01 0 days 2,081 sqft
    2020-01-01 0 days 2,064 sqft
    2020-02-01 0 days 2,070 sqft
    2020-03-01 0 days 2,080 sqft
    2020-04-01 0 days 2,137 sqft
    2020-05-01 0 days 2,149 sqft
    2020-06-01 0 days 2,094 sqft
    2020-07-01 0 days 2,104 sqft
    2020-08-01 0 days 2,138 sqft
    2020-09-01 0 days 2,182 sqft
    2020-10-01 0 days 2,138 sqft
    2020-11-01 0 days 2,137 sqft
    2020-12-01 0 days 2,137 sqft
    2021-01-01 0 days 2,020 sqft
    2021-02-01 0 days 1,996 sqft
    2021-03-01 0 days 2,038 sqft
    2021-04-01 0 days 2,116 sqft
    2021-05-01 0 days 2,194 sqft
    2021-06-01 0 days 2,283 sqft
    2021-07-01 0 days 2,539 sqft
    2021-08-01 0 days 2,276 sqft
    2021-09-01 0 days 2,258 sqft
    2021-10-01 0 days 2,219 sqft
    2021-11-01 0 days 2,040 sqft
    2021-12-01 0 days 1,999 sqft
    2022-01-01 0 days 1,986 sqft
    2022-02-01 0 days 1,994 sqft
    2022-03-01 0 days 2,002 sqft
    2022-04-01 0 days 1,828 sqft
    2022-05-01 0 days 1,685 sqft
    2022-06-01 0 days 1,904 sqft
    2022-07-01 0 days 1,920 sqft
    2022-08-01 0 days 2,025 sqft
    2022-09-01 0 days 1,869 sqft
    2022-10-01 0 days 2,014 sqft
    2022-11-01 0 days 2,156 sqft
    2022-12-01 0 days 2,272 sqft
    2023-01-01 0 days 2,067 sqft
    2023-02-01 0 days 2,016 sqft
    2023-03-01 0 days 1,977 sqft
    2023-04-01 0 days 2,016 sqft
    2023-05-01 0 days 2,064 sqft
    2023-06-01 0 days 2,232 sqft
    2023-07-01 0 days 2,364 sqft
    2023-08-01 0 days 2,195 sqft
    2023-09-01 0 days 2,297 sqft
    2023-10-01 0 days 2,074 sqft
    2023-11-01 0 days 1,872 sqft
    2023-12-01 0 days 1,829 sqft
    2024-01-01 0 days 1,791 sqft
    2024-02-01 0 days 1,674 sqft
    2024-03-01 0 days 1,792 sqft
    2024-04-01 0 days 1,852 sqft
    2024-05-01 0 days 1,964 sqft
    2024-06-01 0 days 1,976 sqft
    2024-07-01 0 days 1,927 sqft
    2024-08-01 0 days 1,910 sqft
    2024-09-01 0 days 2,087 sqft
    2024-10-01 0 days 1,821 sqft
    2024-11-01 0 days 1,922 sqft
    2024-12-01 0 days 1,995 sqft
    2025-01-01 0 days 2,234 sqft
    Huron's median listing age (time on market) for 2025-01-01 was 0 days.

    Huron's median square footage for active listings during the 2025-01-01 period was 2,234 sqft. One year prior, the average listing was 1,791 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).