Joplin FHA Loan Rates, Closing Costs & Stats

JOPLIN, 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.

    Joplin's 62 lenders originated 694 FHA loans during 2024. The total origination value was $131,120,000, with an average FHA loan value of $188,934.

    Joplin FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Joplin averaged 0.16% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Joplin's average FHA mortgage closing costs are $5,876.

    The average rate for the prior week (2025-06-13) was 6.64% and one month ago for the week of 2025-05-16, the average rate was 6.81%.

    The average rate one year ago was 6.96%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.14%.

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

    Joplin 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 Joplin level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    FLAT BRANCH MORTGAGE, INC. 271 6.58% $7,326
    QUICKEN LOANS, LLC 53 6.52% $9,062
    Arvest Bank 39 6.32% $7,778
    Midwest Mortgage Associates Corporation 26 6.68% $5,530
    FREEDOM MORTGAGE CORPORATION 19 6.33% $7,447
    First Community Bank 18 6.27% $8,285
    GERSHMAN INVESTMENT CORP. 15 6.14% $7,339
    PENNYMAC LOAN SERVICES, LLC 14 6.01% $7,209
    CARDINAL FINANCIAL 13 6.57% $9,377
    UNITED WHOLESALE MORTGAGE, LLC 13 6.20% $12,114
    The Central Trust Bank 12 6.53% $7,574
    Gateway First Bank 10 7.08% $7,934
    DAS Acquisition Company, LLC 9 6.72% $8,017
    LOANDEPOT.COM, LLC 8 6.40% $9,245
    BROKER SOLUTIONS, INC. 8 7.05% $9,953
    NEWREZ LLC 6 6.40% $8,850
    Mortgage Research Center, LLC 5 7.15% $3,225
    LOANPAL, LLC 5 5.55% $7,927
    Equity Prime Mortgage LLC 5 7.33% $10,969
    Southwest Missouri Bank 4 6.47% $5,117
    HOMESIDE FINANCIAL, LLC 4 6.63% $9,015
    U.S. Bank 4 6.50% $6,682
    AmeriHome Mortgage Company, LLC 3 6.71% $5,016
    Mr. Cooper ( Nationstar Mortgage ) 2 6.75% $7,504
    Nations Lending Corporation 2 7.13% $6,994
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.38% $7,437
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.88% $4,610
    Commerce Bank 2 6.63% $5,790
    CROSSCOUNTRY MORTGAGE, LLC 2 6.16% $6,641
    PLANET HOME LENDING, LLC 2 4.44% $4,168
    Springfield First Community Bank 2 6.56% $6,937
    SUN WEST MORTGAGE COMPANY, INC. 2 6.38% $12,876
    AMERISAVE MORTGAGE CORPORATION 2 5.69% $12,465
    ZILLOW HOME LOANS, LLC 2 5.94% $8,589
    Great Southern Bank 2 6.31% $5,445
    Carrington Mortgage Services, LLC 2 6.31% $8,812
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.00% $18,489
    TOP FLITE FINANCIAL, INC. 1 6.75% $8,858
    American Mortgage Bank, LLC 1 7.00% $10,587
    Ameris Bank 1 6.13% $10,767
    Bank of England 1 6.63% $8,018
    BOKF 1 6.63% $10,156
    Century Mortgage Company DBA Century Lending Company 1 6.50% $5,170
    CMG MORTGAGE, INC. 1 5.00% $22,797
    EVERETT FINANCIAL, INC. 1 7.88% $9,133
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.63% $5,589
    FIRST COMMUNITY MORTGAGE, INC. 1 6.99% $10,731
    Flagstar Bank, FSB 1 6.75% $10,831
    Flanagan State Bank 1 5.63% $8,881
    MID AMERICA MORTGAGE, INC. 1 6.13% $1,818
    North American Savings Bank, F.S.B. 1 6.75% $8,409
    Old National Bank 1 5.63% $7,349
    PENTAGON FEDERAL CREDIT UNION 1 7.63% $7,210
    PHH Mortgage Corporation 1 6.99% $8,575
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $8,072
    Priority Bank 1 5.63% $8,473
    Servion, Inc. 1 6.25% $6,593
    AMERICAN FINANCIAL NETWORK, INC. 1 5.99% $10,516
    TOWNE MORTGAGE COMPANY 1 5.75% $9,874
    UMB Bank 1 5.62% $6,245
    UNION HOME MORTGAGE CORP. 1 7.00% $8,122
    Wells Fargo Bank 1 5.88% $9,366

    The top Joplin FHA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 271 FHA loans originated. Their average total fees are $7,326, which is $1,736 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Joplin FHA lenders (with over 10 loans originated) are Midwest Mortgage Associates Corporation ($5,530), PENNYMAC LOAN SERVICES, LLC ($7,209), FLAT BRANCH MORTGAGE, INC. ($7,326), GERSHMAN INVESTMENT CORP. ($7,339) and FREEDOM MORTGAGE CORPORATION ($7,447).

    The lowest rate Joplin FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (6.01%), GERSHMAN INVESTMENT CORP. (6.14%), UNITED WHOLESALE MORTGAGE, LLC (6.20%), First Community Bank (6.27%) and Arvest Bank (6.32%).

    Joplin FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    JOPLIN, MO JASPER 2022 $420,680 $538,650 $651,050 $809,150
    JOPLIN, MO NEWTON 2022 $420,680 $538,650 $651,050 $809,150
    JOPLIN, MO JASPER 2023 $472,030 $604,400 $730,525 $907,900
    JOPLIN, MO NEWTON 2023 $472,030 $604,400 $730,525 $907,900

    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).