Jefferson City FHA Loan Rates, Closing Costs & Stats

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 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 6.45% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.62% and one month ago for the week of 2024-10-04, the average rate was 6.14%.

    The average rate one year ago was 7.69%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.59%.

    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
    2024-06-01 $334,900 (25.8%) $399,501 (18.2%) 0.75 184
    2024-07-01 $294,000 (5.0%) $369,395 (7.4%) 0.67 227
    2024-08-01 $298,000 (-6.9%) $379,875 (0.0%) 0.69 242
    2024-09-01 $292,725 (-7.8%) $403,151 (7.8%) 0.69 263
    2024-10-01 $299,450 (-4.9%) $409,527 (14.4%) 0.70 283
    Jefferson City's median listing price for 2024-10-01 was $299,450, a difference of $-15,550 (-4.9%) versus the prior year and $6,725 versus the prior month.

    Jefferson City's median listing price comes in at 70% of the national average.

    Jefferson City's average listing price for 2024-10-01 was $409,527, a difference of $51,546 (14.4%) versus the prior year and $6,376 versus the prior month.

    For the 2024-10-01 period, Jefferson City had 283 MLS listings, a difference of 20 listings (8%) versus the prior month and 109 listings (63%) 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
    2024-06-01 29 days 2,001 sqft
    2024-07-01 36 days 1,948 sqft
    2024-08-01 39 days 1,940 sqft
    2024-09-01 39 days 1,941 sqft
    2024-10-01 49 days 1,985 sqft
    Jefferson City's median listing age (time on market) for 2024-10-01 was 49 days. This is 27% longer than the same period one year ago.

    Jefferson City's median square footage for active listings during the 2024-10-01 period was 1,985 sqft. One year prior, the average listing was 1,988 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).