Hutchinson FHA Loan Rates, Closing Costs & Stats
Hutchinson, KS
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.
Hutchinson's 29 lenders originated 110 FHA loans during 2023. The total origination value was $16,040,000, with an average FHA loan value of $145,818.
Hutchinson FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Hutchinson
averaged
0.15%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Hutchinson's average FHA mortgage closing costs are $5,226.
The average rate for the prior week (2024-11-22) was
6.74% and
one month ago for the week of 2024-10-25, the
average rate was 6.62%.
The average rate one year ago was 7.01%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.2%.
Hutchinson 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 Hutchinson level.
The top Hutchinson FHA lender as defined by loan originations is PRIMARY RESIDENTIAL MORTGAGE, INC., with
30 FHA loans originated. Their average total fees are
$8,028, which is $274
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Hutchinson FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($7,754), PRIMARY RESIDENTIAL MORTGAGE, INC. ($8,028), .
The lowest rate Hutchinson FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.56%), PRIMARY RESIDENTIAL MORTGAGE, INC. (7.04%), .
Hutchinson FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
HUTCHINSON, KS | RENO | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
HUTCHINSON, KS | RENO | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Hutchinson (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $99,438 (4.7%) | $144,853 (3.1%) | 0.00 | 250 |
2018-02-01 | $99,925 (-5.2%) | $144,397 (-2.4%) | 0.00 | 236 |
2018-03-01 | $105,950 (-1.7%) | $146,945 (0.3%) | 0.00 | 239 |
2018-04-01 | $106,725 (-8.8%) | $147,406 (-3.3%) | 0.00 | 247 |
2018-05-01 | $110,550 (-4.9%) | $154,421 (0.5%) | 0.00 | 259 |
2018-06-01 | $115,000 (-0.4%) | $159,645 (2.1%) | 0.00 | 283 |
2018-07-01 | $119,050 (3.5%) | $170,224 (8.4%) | 0.00 | 281 |
2018-08-01 | $115,000 (4.6%) | $169,026 (13.5%) | 0.00 | 283 |
2018-09-01 | $115,900 (0.1%) | $174,397 (16.2%) | 0.00 | 275 |
2018-10-01 | $115,750 (-0.8%) | $172,155 (11.2%) | 0.00 | 286 |
2018-11-01 | $112,700 (0.2%) | $166,216 (9.4%) | 0.00 | 283 |
2018-12-01 | $108,250 (-1.5%) | $165,831 (10.9%) | 0.00 | 266 |
2019-01-01 | $104,300 (4.9%) | $160,020 (10.5%) | 0.00 | 249 |
2019-02-01 | $101,550 (1.6%) | $159,180 (10.2%) | 0.00 | 224 |
2019-03-01 | $109,714 (3.6%) | $172,236 (17.2%) | 0.00 | 216 |
2019-04-01 | $115,000 (7.8%) | $179,391 (21.7%) | 0.00 | 217 |
2019-05-01 | $125,000 (13.1%) | $184,140 (19.3%) | 0.00 | 218 |
2019-06-01 | $109,900 (-4.4%) | $176,680 (10.7%) | 0.00 | 214 |
2019-07-01 | $99,700 (-16.3%) | $167,023 (-1.9%) | 0.00 | 238 |
2019-08-01 | $102,745 (-10.7%) | $168,505 (-0.3%) | 0.00 | 240 |
2019-09-01 | $108,514 (-6.4%) | $172,901 (-0.9%) | 0.00 | 239 |
2019-10-01 | $113,750 (-1.7%) | $176,092 (2.3%) | 0.00 | 239 |
2019-11-01 | $112,000 (-0.6%) | $172,310 (3.7%) | 0.00 | 254 |
2019-12-01 | $99,950 (-7.7%) | $168,519 (1.6%) | 0.00 | 245 |
2020-01-01 | $99,900 (-4.2%) | $164,911 (3.1%) | 0.00 | 231 |
2020-02-01 | $99,900 (-1.6%) | $161,884 (1.7%) | 0.00 | 228 |
2020-03-01 | $105,750 (-3.6%) | $167,924 (-2.5%) | 0.00 | 203 |
2020-04-01 | $107,700 (-6.4%) | $169,338 (-5.6%) | 0.00 | 176 |
2020-05-01 | $114,900 (-8.1%) | $177,732 (-3.5%) | 0.00 | 151 |
2020-06-01 | $102,313 (-6.9%) | $192,159 (8.8%) | 0.00 | 129 |
2020-07-01 | $121,475 (21.8%) | $201,010 (20.4%) | 0.00 | 131 |
2020-08-01 | $119,900 (16.7%) | $204,966 (21.6%) | 0.00 | 106 |
2020-09-01 | $119,900 (10.5%) | $195,525 (13.1%) | 0.00 | 108 |
2020-10-01 | $104,500 (-8.1%) | $170,054 (-3.4%) | 0.00 | 107 |
2020-11-01 | $92,935 (-17.0%) | $159,007 (-7.7%) | 0.00 | 96 |
2020-12-01 | $109,950 (10.0%) | $175,135 (3.9%) | 0.00 | 89 |
2021-01-01 | $94,900 (-5.0%) | $168,918 (2.4%) | 0.00 | 65 |
2021-02-01 | $99,900 (0.0%) | $158,046 (-2.4%) | 0.00 | 46 |
2021-03-01 | $106,975 (1.2%) | $200,450 (19.4%) | 0.00 | 44 |
2021-04-01 | $114,325 (6.2%) | $193,806 (14.5%) | 0.00 | 54 |
2021-05-01 | $139,950 (21.8%) | $217,868 (22.6%) | 0.00 | 51 |
2021-06-01 | $135,800 (32.7%) | $220,486 (14.7%) | 0.00 | 61 |
2021-07-01 | $140,000 (15.3%) | $212,251 (5.6%) | 0.00 | 66 |
2021-08-01 | $136,175 (13.6%) | $206,624 (0.8%) | 0.00 | 67 |
2021-09-01 | $111,725 (-6.8%) | $177,322 (-9.3%) | 0.00 | 67 |
2021-10-01 | $109,900 (5.2%) | $163,228 (-4.0%) | 0.00 | 74 |
2021-11-01 | $88,900 (-4.3%) | $161,753 (1.7%) | 0.00 | 69 |
2021-12-01 | $90,425 (-17.8%) | $144,596 (-17.4%) | 0.00 | 54 |
2022-01-01 | $95,000 (0.1%) | $169,412 (0.3%) | 0.00 | 49 |
2022-02-01 | $94,450 (-5.5%) | $161,549 (2.2%) | 0.00 | 45 |
2022-03-01 | $104,950 (-1.9%) | $175,757 (-12.3%) | 0.00 | 44 |
2022-04-01 | $115,000 (0.6%) | $170,524 (-12.0%) | 0.00 | 53 |
2022-05-01 | $129,525 (-7.5%) | $172,090 (-21.0%) | 0.00 | 65 |
2022-06-01 | $131,500 (-3.2%) | $185,904 (-15.7%) | 0.00 | 57 |
2022-07-01 | $125,000 (-10.7%) | $197,864 (-6.8%) | 0.00 | 59 |
2022-08-01 | $122,500 (-10.0%) | $163,217 (-21.0%) | 0.00 | 67 |
2022-09-01 | $118,225 (5.8%) | $158,768 (-10.5%) | 0.00 | 79 |
2022-10-01 | $114,900 (4.6%) | $149,483 (-8.4%) | 0.00 | 79 |
2022-11-01 | $107,100 (20.5%) | $149,681 (-7.5%) | 0.00 | 75 |
2022-12-01 | $122,400 (35.4%) | $145,526 (0.6%) | 0.00 | 76 |
2023-01-01 | $136,225 (43.4%) | $162,149 (-4.3%) | 0.00 | 81 |
2023-02-01 | $146,500 (55.1%) | $167,594 (3.7%) | 0.00 | 75 |
2023-03-01 | $142,450 (35.7%) | $163,872 (-6.8%) | 0.00 | 69 |
2023-04-01 | $135,000 (17.4%) | $169,886 (-0.4%) | 0.00 | 66 |
2023-05-01 | $142,500 (10.0%) | $167,752 (-2.5%) | 0.00 | 73 |
2023-06-01 | $140,425 (6.8%) | $173,964 (-6.4%) | 0.00 | 93 |
2023-07-01 | $142,450 (14.0%) | $173,205 (-12.5%) | 0.00 | 102 |
2023-08-01 | $120,000 (-2.0%) | $165,635 (1.5%) | 0.00 | 94 |
2023-09-01 | $142,450 (20.5%) | $175,126 (10.3%) | 0.00 | 90 |
2023-10-01 | $145,450 (26.6%) | $188,396 (26.0%) | 0.00 | 99 |
2023-11-01 | $134,900 (26.0%) | $186,966 (24.9%) | 0.00 | 105 |
2023-12-01 | $149,800 (22.4%) | $199,466 (37.1%) | 0.00 | 98 |
2024-01-01 | $146,725 (7.7%) | $189,885 (17.1%) | 0.00 | 73 |
2024-02-01 | $139,500 (-4.8%) | $187,408 (11.8%) | 0.00 | 76 |
2024-03-01 | $140,000 (-1.7%) | $210,689 (28.6%) | 0.00 | 76 |
2024-04-01 | $154,450 (14.4%) | $256,199 (50.8%) | 0.00 | 77 |
2024-05-01 | $156,675 (10.0%) | $248,568 (48.2%) | 0.00 | 84 |
2024-06-01 | $159,250 (13.4%) | $264,890 (52.3%) | 0.00 | 90 |
2024-07-01 | $148,825 (4.5%) | $253,504 (46.4%) | 0.00 | 99 |
2024-08-01 | $169,450 (41.2%) | $261,057 (57.6%) | 0.00 | 115 |
2024-09-01 | $164,675 (15.6%) | $250,862 (43.3%) | 0.00 | 127 |
2024-10-01 | $177,850 (22.3%) | $249,351 (32.4%) | 0.00 | 136 |
Hutchinson's median listing price comes in at 0% of the national average.
Hutchinson's average listing price for 2024-10-01 was $249,351, a difference of $60,955 (32.4%) versus the prior year and $-1,511 versus the prior month.
For the 2024-10-01 period, Hutchinson had 136 MLS listings, a difference of 9 listings (7%) versus the prior month and 37 listings (37%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Hutchinson (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,721 sqft |
2018-02-01 | 0 days | 1,673 sqft |
2018-03-01 | 0 days | 1,717 sqft |
2018-04-01 | 0 days | 1,643 sqft |
2018-05-01 | 0 days | 1,649 sqft |
2018-06-01 | 0 days | 1,720 sqft |
2018-07-01 | 0 days | 1,728 sqft |
2018-08-01 | 0 days | 1,721 sqft |
2018-09-01 | 0 days | 1,728 sqft |
2018-10-01 | 0 days | 1,787 sqft |
2018-11-01 | 0 days | 1,730 sqft |
2018-12-01 | 0 days | 1,698 sqft |
2019-01-01 | 0 days | 1,697 sqft |
2019-02-01 | 0 days | 1,707 sqft |
2019-03-01 | 0 days | 1,717 sqft |
2019-04-01 | 0 days | 1,721 sqft |
2019-05-01 | 0 days | 1,779 sqft |
2019-06-01 | 0 days | 1,770 sqft |
2019-07-01 | 0 days | 1,678 sqft |
2019-08-01 | 0 days | 1,661 sqft |
2019-09-01 | 0 days | 1,686 sqft |
2019-10-01 | 0 days | 1,725 sqft |
2019-11-01 | 0 days | 1,717 sqft |
2019-12-01 | 0 days | 1,660 sqft |
2020-01-01 | 0 days | 1,664 sqft |
2020-02-01 | 0 days | 1,644 sqft |
2020-03-01 | 0 days | 1,709 sqft |
2020-04-01 | 0 days | 1,766 sqft |
2020-05-01 | 0 days | 1,783 sqft |
2020-06-01 | 0 days | 1,752 sqft |
2020-07-01 | 0 days | 1,823 sqft |
2020-08-01 | 0 days | 1,858 sqft |
2020-09-01 | 0 days | 1,792 sqft |
2020-10-01 | 0 days | 1,654 sqft |
2020-11-01 | 0 days | 1,549 sqft |
2020-12-01 | 0 days | 1,653 sqft |
2021-01-01 | 0 days | 1,484 sqft |
2021-02-01 | 0 days | 1,523 sqft |
2021-03-01 | 0 days | 1,768 sqft |
2021-04-01 | 0 days | 1,696 sqft |
2021-05-01 | 0 days | 1,728 sqft |
2021-06-01 | 0 days | 1,720 sqft |
2021-07-01 | 0 days | 1,761 sqft |
2021-08-01 | 0 days | 1,724 sqft |
2021-09-01 | 0 days | 1,629 sqft |
2021-10-01 | 0 days | 1,536 sqft |
2021-11-01 | 0 days | 1,468 sqft |
2021-12-01 | 0 days | 1,432 sqft |
2022-01-01 | 0 days | 1,534 sqft |
2022-02-01 | 0 days | 1,458 sqft |
2022-03-01 | 0 days | 1,481 sqft |
2022-04-01 | 0 days | 1,498 sqft |
2022-05-01 | 0 days | 1,505 sqft |
2022-06-01 | 0 days | 1,554 sqft |
2022-07-01 | 0 days | 1,585 sqft |
2022-08-01 | 0 days | 1,528 sqft |
2022-09-01 | 0 days | 1,510 sqft |
2022-10-01 | 0 days | 1,454 sqft |
2022-11-01 | 0 days | 1,386 sqft |
2022-12-01 | 0 days | 1,436 sqft |
2023-01-01 | 0 days | 1,496 sqft |
2023-02-01 | 0 days | 1,579 sqft |
2023-03-01 | 0 days | 1,562 sqft |
2023-04-01 | 0 days | 1,607 sqft |
2023-05-01 | 0 days | 1,772 sqft |
2023-06-01 | 0 days | 1,656 sqft |
2023-07-01 | 0 days | 1,760 sqft |
2023-08-01 | 0 days | 1,545 sqft |
2023-09-01 | 0 days | 1,722 sqft |
2023-10-01 | 0 days | 1,752 sqft |
2023-11-01 | 0 days | 1,737 sqft |
2023-12-01 | 0 days | 1,677 sqft |
2024-01-01 | 0 days | 1,645 sqft |
2024-02-01 | 0 days | 1,714 sqft |
2024-03-01 | 0 days | 1,648 sqft |
2024-04-01 | 0 days | 1,652 sqft |
2024-05-01 | 0 days | 1,637 sqft |
2024-06-01 | 0 days | 1,678 sqft |
2024-07-01 | 0 days | 1,630 sqft |
2024-08-01 | 0 days | 1,816 sqft |
2024-09-01 | 0 days | 1,816 sqft |
2024-10-01 | 0 days | 1,816 sqft |
Hutchinson's median square footage for active listings during the 2024-10-01 period was 1,816 sqft. One year prior, the average listing was 1,752 sqft.