Jefferson City FHA Loan Rates, Closing Costs & Stats

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 57 lenders originated 293 FHA loans during 2023. The total origination value was $55,775,000, with an average FHA loan value of $190,358.

Jefferson City FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Jefferson City averaged 7.04% for the week of 2024-06-14, compared to the national average (all FHA variants) of 6.712% for the same period.

Jefferson City's average FHA mortgage closing costs are $5,861.

The average rate for the prior week (2024-06-07) was 6.93% and one month ago for the week of 2024-05-10, the average rate was 6.81%.

The average rate one year ago was 6.66%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.68%.

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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Jefferson City level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FLAT BRANCH MORTGAGE, INC. 84 6.88% $7,121
QUICKEN LOANS, LLC 31 6.30% $8,750
UNITED WHOLESALE MORTGAGE, LLC 20 6.93% $8,734
DAS Acquisition Company, LLC 17 6.98% $8,988
The Central Trust Bank 12 6.54% $6,827
Midwest Mortgage Associates Corporation 10 6.46% $5,230
GERSHMAN INVESTMENT CORP. 8 7.14% $5,548
AMERISAVE MORTGAGE CORPORATION 7 6.11% $10,085
Hawthorn Bank 6 6.33% $6,034
PRIMELENDING, A PLAINSCAPITAL COMPANY 6 7.04% $9,712
Carrington Mortgage Services, LLC 6 6.29% $9,544
TOWNE MORTGAGE COMPANY 6 7.38% $8,593
PENNYMAC LOAN SERVICES, LLC 5 6.50% $8,955
FREEDOM MORTGAGE CORPORATION 4 6.72% $11,563
LOANDEPOT.COM, LLC 4 6.22% $10,085
COMMUNITY MORTGAGE, LLC 3 6.58% $5,953
Mortgage Research Center, LLC 3 7.00% $2,573
Mr. Cooper ( Nationstar Mortgage ) 3 6.42% $14,055
Ameris Bank 2 6.44% $6,171
CMG MORTGAGE, INC. 2 7.25% $5,343
AMERICAN FINANCIAL RESOURCES, INC. 2 6.94% $8,356
Bell Bank 2 6.13% $8,936
U.S. Bank 2 7.00% $6,283
Flagstar Bank, FSB 2 7.25% $11,198
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.75% $8,221
Regions Bank 2 6.75% $5,985
PLANET HOME LENDING, LLC 2 5.75% $10,353
ENDEAVOR CAPITAL, LLC. 2 6.44% $9,805
AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $11,199
VILLAGE CAPITAL MORTGAGE 1 6.99% $2,897
AMERICAN FINANCING CORPORATION 1 6.50% $11,066
AmeriHome Mortgage Company, LLC 1 6.63% $6,556
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $5,283
Bank of England 1 6.25% $11,188
Barrington Bank & Trust Company, N.A. 1 5.75% $7,999
BROKER SOLUTIONS, INC. 1 6.63% $6,890
CARDINAL FINANCIAL 1 6.25% $11,535
Citizens Bank 1 6.75% $8,390
First Bank 1 5.75% $5,229
FIRST COMMUNITY MORTGAGE, INC. 1 7.00% $8,522
First State Bank of St. Charles, Missouri 1 6.75% $8,367
GUARANTEED RATE AFFINITY, LLC 1 6.75% $6,454
GUARANTEED RATE, INC. 1 5.75% $5,758
GUILD MORTGAGE COMPANY 1 6.50% $8,995
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.13% $7,638
LAKEVIEW LOAN SERVICING, LLC 1 6.75% $11,774
Mid-Continent Funding, Inc. 1 6.49% $7,871
M&T Bank 1 6.75% $7,427
NEW DAY FINANCIAL, LLC 1 7.99% $3,188
NEWREZ LLC 1 6.13% $9,249
PNC Bank 1 7.13% $5,963
RED DIAMOND HOME LOANS, LLC 1 6.50% $11,205
Servion, Inc. 1 7.13% $5,910
Simmons Bank 1 6.25% $6,641
SUN WEST MORTGAGE COMPANY, INC. 1 6.63% $5,719
TOP FLITE FINANCIAL, INC. 1 6.75% $12,290
United Fidelity Funding Corp. 1 7.25% $9,804

The top Jefferson City FHA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 84 FHA loans originated. Their average total fees are $7,121, which is $1,629 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Jefferson City FHA lenders (with over 10 loans originated) are Midwest Mortgage Associates Corporation ($5,230), The Central Trust Bank ($6,827), FLAT BRANCH MORTGAGE, INC. ($7,121), UNITED WHOLESALE MORTGAGE, LLC ($8,734) and QUICKEN LOANS, LLC ($8,750).

The lowest rate Jefferson City FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.30%), Midwest Mortgage Associates Corporation (6.46%), The Central Trust Bank (6.54%), FLAT BRANCH MORTGAGE, INC. (6.88%) and UNITED WHOLESALE MORTGAGE, LLC (6.93%).

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
JEFFERSON CITY, MO CALLAWAY 2023 $472,030 $604,400 $730,525 $907,900
JEFFERSON CITY, MO COLE 2023 $472,030 $604,400 $730,525 $907,900
JEFFERSON CITY, MO MONITEAU 2023 $472,030 $604,400 $730,525 $907,900
JEFFERSON CITY, MO OSAGE 2023 $472,030 $604,400 $730,525 $907,900

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 $146,700 (14.2%) $187,716 (11.7%) 0.54 387
2018-02-01 $151,950 (17.0%) $195,670 (17.1%) 0.55 379
2018-03-01 $149,900 (15.4%) $199,251 (17.9%) 0.53 394
2018-04-01 $170,700 (22.0%) $211,671 (15.3%) 0.58 407
2018-05-01 $174,900 (20.7%) $216,452 (14.6%) 0.58 413
2018-06-01 $179,900 (24.2%) $224,786 (19.2%) 0.60 415
2018-07-01 $179,450 (23.8%) $216,911 (14.3%) 0.60 434
2018-08-01 $177,475 (22.5%) $206,792 (10.2%) 0.59 476
2018-09-01 $175,000 (20.7%) $204,027 (7.3%) 0.59 481
2018-10-01 $166,175 (15.8%) $197,231 (6.5%) 0.56 480
2018-11-01 $168,200 (16.0%) $196,723 (6.7%) 0.57 460
2018-12-01 $164,950 (12.8%) $195,750 (3.7%) 0.57 446
2019-01-01 $166,200 (13.3%) $195,113 (3.9%) 0.57 406
2019-02-01 $154,425 (1.6%) $188,022 (-3.9%) 0.52 412
2019-03-01 $160,079 (6.8%) $192,838 (-3.2%) 0.52 389
2019-04-01 $168,875 (-1.1%) $197,758 (-6.6%) 0.54 384
2019-05-01 $169,450 (-3.1%) $207,046 (-4.4%) 0.53 402
2019-06-01 $177,000 (-1.6%) $214,867 (-4.4%) 0.55 423
2019-07-01 $177,350 (-1.2%) $218,750 (0.9%) 0.56 408
2019-08-01 $175,965 (-0.9%) $217,556 (5.2%) 0.56 407
2019-09-01 $177,414 (1.4%) $216,403 (6.1%) 0.57 407
2019-10-01 $176,559 (6.3%) $212,795 (7.9%) 0.57 406
2019-11-01 $179,900 (7.0%) $213,777 (8.7%) 0.59 393
2019-12-01 $179,950 (9.1%) $214,696 (9.7%) 0.60 361
2020-01-01 $173,250 (4.2%) $216,034 (10.7%) 0.58 345
2020-02-01 $177,000 (14.6%) $227,371 (20.9%) 0.58 331
2020-03-01 $185,500 (15.9%) $236,500 (22.6%) 0.58 301
2020-04-01 $196,970 (16.6%) $234,636 (18.7%) 0.62 285
2020-05-01 $210,000 (23.9%) $245,667 (18.7%) 0.64 250
2020-06-01 $213,700 (20.7%) $248,132 (15.5%) 0.63 249
2020-07-01 $207,400 (16.9%) $247,150 (13.0%) 0.60 213
2020-08-01 $204,900 (16.4%) $245,885 (13.0%) 0.59 189
2020-09-01 $199,800 (12.6%) $238,638 (10.3%) 0.57 183
2020-10-01 $179,700 (1.8%) $231,733 (8.9%) 0.51 169
2020-11-01 $183,725 (2.1%) $240,167 (12.3%) 0.54 166
2020-12-01 $178,700 (-0.7%) $234,803 (9.4%) 0.53 173
2021-01-01 $178,700 (3.2%) $232,148 (7.5%) 0.53 142
2021-02-01 $180,833 (2.2%) $233,710 (2.8%) 0.53 105
2021-03-01 $196,175 (5.8%) $247,269 (4.6%) 0.56 85
2021-04-01 $212,450 (7.9%) $261,799 (11.6%) 0.58 96
2021-05-01 $182,400 (-13.1%) $251,898 (2.5%) 0.48 97
2021-06-01 $199,900 (-6.5%) $263,888 (6.4%) 0.53 111
2021-07-01 $193,900 (-6.5%) $253,255 (2.5%) 0.51 130
2021-08-01 $199,050 (-2.9%) $264,330 (7.5%) 0.53 143
2021-09-01 $218,575 (9.4%) $271,787 (13.9%) 0.58 154
2021-10-01 $199,900 (11.2%) $259,303 (11.9%) 0.53 153
2021-11-01 $188,350 (2.5%) $279,364 (16.3%) 0.50 148
2021-12-01 $195,000 (9.1%) $271,727 (15.7%) 0.53 144
2022-01-01 $192,000 (7.4%) $279,057 (20.2%) 0.52 119
2022-02-01 $206,450 (14.2%) $299,217 (28.0%) 0.54 112
2022-03-01 $198,950 (1.4%) $297,224 (20.2%) 0.50 102
2022-04-01 $199,500 (-6.1%) $289,557 (10.6%) 0.48 116
2022-05-01 $227,400 (24.7%) $303,709 (20.6%) 0.52 132
2022-06-01 $238,725 (19.4%) $296,505 (12.4%) 0.53 161
2022-07-01 $221,125 (14.0%) $285,367 (12.7%) 0.50 178
2022-08-01 $217,925 (9.5%) $298,331 (12.9%) 0.50 186
2022-09-01 $227,250 (4.0%) $314,161 (15.6%) 0.53 178
2022-10-01 $199,900 (0.0%) $282,806 (9.1%) 0.47 197
2022-11-01 $242,000 (28.5%) $299,514 (7.2%) 0.58 163
2022-12-01 $259,900 (33.3%) $325,852 (19.9%) 0.64 150
2023-01-01 $254,450 (32.5%) $315,270 (13.0%) 0.63 125
2023-02-01 $259,950 (25.9%) $320,178 (7.0%) 0.63 122
2023-03-01 $251,250 (26.3%) $312,207 (5.0%) 0.59 121
2023-04-01 $278,400 (39.6%) $333,228 (15.1%) 0.65 128
2023-05-01 $278,550 (22.5%) $335,999 (10.6%) 0.63 138
2023-06-01 $266,150 (11.5%) $338,133 (14.0%) 0.60 148
2023-07-01 $279,900 (26.6%) $343,852 (20.5%) 0.64 151
2023-08-01 $319,900 (46.8%) $379,804 (27.3%) 0.73 149
2023-09-01 $317,500 (39.7%) $374,110 (19.1%) 0.74 162
2023-10-01 $315,000 (57.6%) $357,981 (26.6%) 0.74 174
2023-11-01 $314,950 (30.1%) $365,182 (21.9%) 0.75 169
2023-12-01 $302,488 (16.4%) $364,517 (11.9%) 0.74 150
2024-01-01 $302,488 (18.9%) $362,646 (15.0%) 0.74 152
2024-02-01 $314,900 (21.1%) $362,458 (13.2%) 0.76 142
2024-03-01 $309,900 (23.3%) $352,238 (12.8%) 0.73 153
2024-04-01 $289,325 (3.9%) $361,009 (8.3%) 0.67 149
2024-05-01 $319,900 (14.8%) $366,486 (9.1%) 0.72 148
Jefferson City's median listing price for 2024-05-01 was $319,900, a difference of $41,350 (14.8%) versus the prior year and $30,575 versus the prior month.

Jefferson City's median listing price comes in at 72% of the national average.

Jefferson City's average listing price for 2024-05-01 was $366,486, a difference of $30,487 (9.1%) versus the prior year and $5,477 versus the prior month.

For the 2024-05-01 period, Jefferson City had 148 MLS listings, a difference of -1 listings (-1%) versus the prior month and 10 listings (7%) 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 79 days 1,944 sqft
2018-02-01 71 days 1,977 sqft
2018-03-01 56 days 1,978 sqft
2018-04-01 50 days 2,028 sqft
2018-05-01 52 days 2,111 sqft
2018-06-01 53 days 2,118 sqft
2018-07-01 54 days 2,124 sqft
2018-08-01 58 days 2,098 sqft
2018-09-01 60 days 2,010 sqft
2018-10-01 65 days 1,983 sqft
2018-11-01 70 days 1,961 sqft
2018-12-01 78 days 1,876 sqft
2019-01-01 82 days 1,870 sqft
2019-02-01 82 days 1,810 sqft
2019-03-01 67 days 1,831 sqft
2019-04-01 51 days 1,878 sqft
2019-05-01 42 days 1,943 sqft
2019-06-01 44 days 2,021 sqft
2019-07-01 58 days 1,994 sqft
2019-08-01 57 days 1,985 sqft
2019-09-01 55 days 1,978 sqft
2019-10-01 55 days 1,949 sqft
2019-11-01 63 days 1,922 sqft
2019-12-01 74 days 1,952 sqft
2020-01-01 78 days 1,966 sqft
2020-02-01 68 days 1,986 sqft
2020-03-01 53 days 2,041 sqft
2020-04-01 64 days 2,005 sqft
2020-05-01 59 days 2,131 sqft
2020-06-01 47 days 2,016 sqft
2020-07-01 52 days 2,101 sqft
2020-08-01 40 days 2,100 sqft
2020-09-01 35 days 2,040 sqft
2020-10-01 34 days 1,874 sqft
2020-11-01 37 days 1,946 sqft
2020-12-01 36 days 1,812 sqft
2021-01-01 47 days 1,786 sqft
2021-02-01 37 days 1,774 sqft
2021-03-01 25 days 1,884 sqft
2021-04-01 16 days 2,016 sqft
2021-05-01 16 days 1,836 sqft
2021-06-01 16 days 1,919 sqft
2021-07-01 18 days 1,875 sqft
2021-08-01 19 days 1,977 sqft
2021-09-01 23 days 1,845 sqft
2021-10-01 29 days 1,748 sqft
2021-11-01 35 days 1,675 sqft
2021-12-01 45 days 1,828 sqft
2022-01-01 52 days 1,847 sqft
2022-02-01 39 days 1,810 sqft
2022-03-01 29 days 1,878 sqft
2022-04-01 22 days 1,873 sqft
2022-05-01 25 days 1,991 sqft
2022-06-01 23 days 1,770 sqft
2022-07-01 39 days 1,742 sqft
2022-08-01 35 days 1,831 sqft
2022-09-01 44 days 1,905 sqft
2022-10-01 41 days 1,728 sqft
2022-11-01 51 days 1,783 sqft
2022-12-01 64 days 1,859 sqft
2023-01-01 64 days 1,805 sqft
2023-02-01 47 days 1,848 sqft
2023-03-01 38 days 1,860 sqft
2023-04-01 27 days 1,879 sqft
2023-05-01 27 days 1,889 sqft
2023-06-01 36 days 1,862 sqft
2023-07-01 30 days 1,949 sqft
2023-08-01 37 days 2,066 sqft
2023-09-01 38 days 2,086 sqft
2023-10-01 39 days 1,988 sqft
2023-11-01 41 days 2,018 sqft
2023-12-01 56 days 2,097 sqft
2024-01-01 58 days 2,034 sqft
2024-02-01 40 days 2,049 sqft
2024-03-01 37 days 1,961 sqft
2024-04-01 33 days 1,944 sqft
2024-05-01 31 days 1,915 sqft
Jefferson City's median listing age (time on market) for 2024-05-01 was 31 days. This is 15% longer than the same period one year ago.

Jefferson City's median square footage for active listings during the 2024-05-01 period was 1,915 sqft. One year prior, the average listing was 1,889 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).