Jefferson City FHA Loans

JEFFERSON CITY, MO

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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.

    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).