Jefferson City FHA Loans

JEFFERSON CITY, MO

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.

Jefferson City's 55 lenders originated 475 FHA loans during 2021. The total origination value was $75,545,000, with an average FHA loan value of $159,042.

Jefferson City FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Jefferson City averaged 5.35% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

The average rate for the prior week (2022-05-06) was 5.58% and one month ago for the week of 2022-04-08, the average rate was 4.85%.

The average rate one year ago was 3.25%.

For refis of the same type during the week of 2022-05-13, the average rate was 4.99%.

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

Jefferson City FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Jefferson City level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FLAT BRANCH MORTGAGE, INC. 97 3.23% $5,530
The Central Trust Bank 47 3.13% $5,663
QUICKEN LOANS, LLC 43 2.79% $5,548
DAS Acquisition Company, LLC 39 3.55% $6,365
Midwest Mortgage Associates Corporation 21 2.85% $7,629
HOME POINT FINANCIAL CORPORATION 18 2.96% $4,692
LAKEVIEW LOAN SERVICING, LLC 13 3.18% $3,535
CMG MORTGAGE, INC. 12 3.25% $4,383
FREEDOM MORTGAGE CORPORATION 12 3.00% $3,394
VILLAGE CAPITAL & INVESTMENT LLC 10 2.88% $2,125
PENNYMAC LOAN SERVICES, LLC 9 3.37% $3,457
GERSHMAN INVESTMENT CORP. 8 3.08% $4,531
Mr. Cooper ( Nationstar Mortgage ) 6 3.35% $3,258
COMMUNITY MORTGAGE, LLC 6 2.92% $5,748
UNION HOME MORTGAGE CORP. 5 3.53% $6,177
Equity Prime Mortgage LLC 5 3.28% $7,268
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 2.85% $6,140
CALIBER HOME LOANS, INC. 4 2.75% $4,173
LOANDEPOT.COM, LLC 4 3.38% $7,151
Carrington Mortgage Services, LLC 4 4.31% $7,377
AMERISAVE MORTGAGE CORPORATION 4 3.09% $6,864
Regions Bank 3 2.92% $9,246
Magnolia Bank 2 2.75% $9,190
NEWREZ LLC 2 2.69% $4,294
ON Q FINANCIAL, INC. 2 2.75% $6,159
Arvest Bank 2 2.63% $6,399
TOP FLITE FINANCIAL, INC. 2 3.31% $9,760
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.44% $6,193
UNITED WHOLESALE MORTGAGE, LLC 2 3.25% $5,451
BROKER SOLUTIONS, INC. 2 3.25% $7,337
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 2.44% $6,014
GUILD MORTGAGE COMPANY 2 2.81% $6,174
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.75% $4,134
Citizens Bank 2 2.44% $6,055
WRIGHT-PATT CREDIT UNION, INC. 1 2.88% $7,595
AMERICAN FINANCING CORPORATION 1 2.88% $8,207
Bank of England 1 2.88% $7,716
Commerce Bank 1 4.50% $4,177
DRAPER AND KRAMER MORTGAGE CORP. 1 3.75% $6,067
ENDEAVOR CAPITAL, LLC. 1 2.75% $1,636
FIRST COMMUNITY MORTGAGE, INC. 1 3.75% $6,628
First Guaranty Mortgage Corporation 1 2.63% $3,368
Flagstar Bank, FSB 1 2.25% $8,381
Hawthorn Bank 1 3.13% $3,347
JPMorgan Chase Bank 1 2.99% $3,202
LOANPAL, LLC 1 2.75% $5,820
Mortgage Research Center, LLC 1 3.25% $5,325
MOVEMENT MORTGAGE, LLC 1 3.63% $4,148
Nations Lending Corporation 1 3.88% $10,187
PLANET HOME LENDING, LLC 1 2.75% $4,362
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.63% $6,493
Stifel Bank and Trust 1 2.38% $6,491
TOWNE MORTGAGE COMPANY 1 3.38% $6,761
U.S. Bank 1 3.13% $3,890
AMERICAN FINANCIAL RESOURCES, INC. 1 4.50% $5,622

The top Jefferson City FHA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 97 FHA loans originated. Their average total fees are $5,530, which is $133 lower than the next largest lender, The Central Trust Bank.

The lowest fee Jefferson City FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,125), FREEDOM MORTGAGE CORPORATION ($3,394), LAKEVIEW LOAN SERVICING, LLC ($3,535), CMG MORTGAGE, INC. ($4,383) and HOME POINT FINANCIAL CORPORATION ($4,692).

The lowest rate Jefferson City FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.79%), Midwest Mortgage Associates Corporation (2.85%), VILLAGE CAPITAL & INVESTMENT LLC (2.88%), HOME POINT FINANCIAL CORPORATION (2.96%) and FREEDOM MORTGAGE CORPORATION (3.00%).

Jefferson City FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
JEFFERSON CITY, MO CALLAWAY 2022 $420,680 $538,650 $651,050 $809,150
JEFFERSON CITY, MO COLE 2022 $420,680 $538,650 $651,050 $809,150
JEFFERSON CITY, MO MONITEAU 2022 $420,680 $538,650 $651,050 $809,150
JEFFERSON CITY, MO OSAGE 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Jefferson City (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 $149,950 (15.8%) $193,359 (14.5%) 0.55 472
2018-02-01 $161,200 (24.1%) $201,302 (18.6%) 0.58 447
2018-03-01 $159,900 (21.2%) $206,509 (19.6%) 0.55 470
2018-04-01 $174,900 (20.6%) $219,651 (16.3%) 0.59 500
2018-05-01 $179,450 (19.7%) $222,820 (14.7%) 0.60 519
2018-06-01 $186,900 (24.7%) $230,948 (16.8%) 0.62 537
2018-07-01 $182,000 (22.2%) $222,157 (12.5%) 0.61 565
2018-08-01 $177,450 (22.4%) $208,583 (6.7%) 0.59 618
2018-09-01 $169,900 (13.3%) $202,348 (2.2%) 0.57 634
2018-10-01 $164,900 (11.4%) $194,505 (0.9%) 0.55 642
2018-11-01 $169,900 (14.8%) $194,750 (2.7%) 0.57 600
2018-12-01 $169,900 (10.3%) $197,888 (1.8%) 0.58 569
2019-01-01 $168,700 (12.5%) $199,206 (3.0%) 0.58 518
2019-02-01 $159,450 (-1.1%) $190,261 (-5.5%) 0.53 521
2019-03-01 $164,186 (2.7%) $193,999 (-6.1%) 0.54 494
2019-04-01 $169,900 (-2.9%) $198,564 (-9.6%) 0.54 491
2019-05-01 $173,200 (-3.5%) $209,279 (-6.1%) 0.53 511
2019-06-01 $178,900 (-4.3%) $216,899 (-6.1%) 0.55 562
2019-07-01 $182,400 (0.2%) $219,500 (-1.2%) 0.57 555
2019-08-01 $177,800 (0.2%) $218,887 (4.9%) 0.56 531
2019-09-01 $177,250 (4.3%) $217,872 (7.7%) 0.56 504
2019-10-01 $177,400 (7.6%) $210,829 (8.4%) 0.57 557
2019-11-01 $179,900 (5.9%) $214,074 (9.9%) 0.58 530
2019-12-01 $184,900 (8.8%) $212,907 (7.6%) 0.62 479
2020-01-01 $174,450 (3.4%) $213,718 (7.3%) 0.58 463
2020-02-01 $174,900 (9.7%) $217,749 (14.5%) 0.56 444
2020-03-01 $182,450 (11.1%) $224,864 (15.9%) 0.57 400
2020-04-01 $196,450 (15.6%) $228,769 (15.2%) 0.61 385
2020-05-01 $208,000 (20.1%) $236,217 (12.9%) 0.63 329
2020-06-01 $202,425 (13.2%) $239,836 (10.6%) 0.59 325
2020-07-01 $199,900 (9.6%) $237,803 (8.3%) 0.57 286
2020-08-01 $199,900 (12.4%) $240,138 (9.7%) 0.57 258
2020-09-01 $192,500 (8.6%) $235,110 (7.9%) 0.55 257
2020-10-01 $174,900 (-1.4%) $225,776 (7.1%) 0.50 242
2020-11-01 $189,900 (5.6%) $234,529 (9.6%) 0.54 239
2020-12-01 $182,450 (-1.3%) $233,079 (9.5%) 0.54 247
2021-01-01 $185,900 (6.6%) $237,956 (11.3%) 0.55 209
2021-02-01 $175,000 (0.1%) $227,972 (4.7%) 0.50 146
2021-03-01 $210,000 (15.1%) $250,940 (11.6%) 0.59 122
2021-04-01 $200,000 (1.8%) $254,007 (11.0%) 0.54 138
2021-05-01 $184,900 (-11.1%) $238,777 (1.1%) 0.49 132
2021-06-01 $195,000 (-3.7%) $259,865 (8.4%) 0.51 147
2021-07-01 $185,000 (-7.5%) $249,691 (5.0%) 0.48 171
2021-08-01 $195,950 (-2.0%) $262,699 (9.4%) 0.52 184
2021-09-01 $199,500 (3.6%) $264,229 (12.4%) 0.53 208
2021-10-01 $179,900 (2.9%) $256,746 (13.7%) 0.47 200
2021-11-01 $181,950 (-4.2%) $290,189 (23.7%) 0.48 197
2021-12-01 $195,000 (6.9%) $288,464 (23.8%) 0.52 196
2022-01-01 $181,900 (-2.2%) $295,823 (24.3%) 0.49 158
2022-02-01 $203,700 (16.4%) $310,773 (36.3%) 0.52 154
2022-03-01 $201,450 (-4.1%) $309,216 (23.2%) 0.50 149
2022-04-01 $195,000 (-2.5%) $310,908 (22.4%) 0.46 166
Jefferson City's median listing price for 2022-04-01 was $195,000, a difference of $-5,000 (-2.5%) versus the prior year and $-6,450 versus the prior month.

Jefferson City's median listing price comes in at 46% of the national average.

Jefferson City's average listing price for 2022-04-01 was $310,908, a difference of $56,901 (22.4%) versus the prior year and $1,692 versus the prior month.

For the 2022-04-01 period, Jefferson City had 166 MLS listings, a difference of 17 listings (11%) versus the prior month and 28 listings (20%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Jefferson City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 86 days 1,979 sqft
2018-02-01 78 days 2,004 sqft
2018-03-01 58 days 1,988 sqft
2018-04-01 51 days 2,055 sqft
2018-05-01 53 days 2,110 sqft
2018-06-01 53 days 2,100 sqft
2018-07-01 56 days 2,093 sqft
2018-08-01 59 days 2,019 sqft
2018-09-01 60 days 1,966 sqft
2018-10-01 66 days 1,946 sqft
2018-11-01 72 days 1,920 sqft
2018-12-01 80 days 1,872 sqft
2019-01-01 88 days 1,859 sqft
2019-02-01 87 days 1,805 sqft
2019-03-01 64 days 1,802 sqft
2019-04-01 56 days 1,836 sqft
2019-05-01 45 days 1,950 sqft
2019-06-01 44 days 2,038 sqft
2019-07-01 58 days 2,033 sqft
2019-08-01 63 days 1,989 sqft
2019-09-01 59 days 1,967 sqft
2019-10-01 57 days 1,980 sqft
2019-11-01 65 days 1,966 sqft
2019-12-01 79 days 1,973 sqft
2020-01-01 85 days 1,962 sqft
2020-02-01 80 days 1,986 sqft
2020-03-01 62 days 2,019 sqft
2020-04-01 63 days 2,082 sqft
2020-05-01 64 days 2,129 sqft
2020-06-01 59 days 2,007 sqft
2020-07-01 58 days 2,062 sqft
2020-08-01 56 days 2,037 sqft
2020-09-01 39 days 2,000 sqft
2020-10-01 38 days 1,830 sqft
2020-11-01 40 days 1,942 sqft
2020-12-01 43 days 1,842 sqft
2021-01-01 56 days 1,852 sqft
2021-02-01 56 days 1,770 sqft
2021-03-01 34 days 1,806 sqft
2021-04-01 22 days 1,960 sqft
2021-05-01 22 days 1,770 sqft
2021-06-01 17 days 1,878 sqft
2021-07-01 20 days 1,874 sqft
2021-08-01 22 days 1,907 sqft
2021-09-01 24 days 1,825 sqft
2021-10-01 31 days 1,669 sqft
2021-11-01 34 days 1,688 sqft
2021-12-01 47 days 1,830 sqft
2022-01-01 59 days 1,824 sqft
2022-02-01 44 days 1,803 sqft
2022-03-01 36 days 1,892 sqft
2022-04-01 28 days 1,850 sqft
Jefferson City's median listing age (time on market) for 2022-04-01 was 28 days. This is 30% longer than the same period one year ago.

Jefferson City's median square footage for active listings during the 2022-04-01 period was 1,850 sqft. One year prior, the average listing was 1,960 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).