Kansas City FHA Loans
KANSAS CITY, MO-KS
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.
Kansas City's 182 lenders originated 9,799 FHA loans during 2021. The total origination value was $2,009,675,000, with an average FHA loan value of $205,090.
Kansas City FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Kansas City
averaged
5.47%
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
5.4% and
one month ago for the week of 2022-04-08, the
average rate was 4.86%.
The average rate one year ago was 3.27%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.09%.
Kansas 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 Kansas City level.
The top Kansas City FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
875 FHA loans originated. Their average total fees are
$5,842, which is $507
lower than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee Kansas City FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($2,131), MID AMERICA MORTGAGE, INC. ($2,764), Bank of America ($3,635), Mr. Cooper ( Nationstar Mortgage ) ($3,968) and DELMAR FINANCIAL COMPANY ($4,233).
The lowest rate Kansas City FHA lenders (with over 10 loans originated) are
Central National Bank (2.66%), Community First National Bank (2.68%), Plains Commerce Bank (2.69%), QUICKEN LOANS, LLC (2.74%) and North American Savings Bank, F.S.B. (2.75%).
Kansas City FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| KANSAS CITY, MO-KS | JOHNSON | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | LEAVENWORTH | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | LINN | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | MIAMI | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | WYANDOTTE | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | BATES | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | CALDWELL | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | CASS | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | CLAY | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | CLINTON | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | JACKSON | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | LAFAYETTE | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | PLATTE | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
| KANSAS CITY, MO-KS | RAY | 2022 | $431,250 | $552,050 | $667,350 | $829,350 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Kansas 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 | $278,750 (15.8%) | $341,616 (10.4%) | 1.03 | 5,265 |
| 2018-02-01 | $293,000 (17.5%) | $356,320 (14.1%) | 1.06 | 4,909 |
| 2018-03-01 | $300,000 (13.2%) | $364,264 (11.1%) | 1.04 | 5,120 |
| 2018-04-01 | $304,975 (9.0%) | $372,997 (8.8%) | 1.02 | 5,353 |
| 2018-05-01 | $300,750 (9.5%) | $371,509 (8.0%) | 1.00 | 5,829 |
| 2018-06-01 | $297,950 (8.4%) | $366,497 (6.4%) | 0.99 | 6,278 |
| 2018-07-01 | $294,500 (7.1%) | $364,884 (7.0%) | 0.98 | 6,640 |
| 2018-08-01 | $290,000 (7.5%) | $362,085 (6.1%) | 0.97 | 6,931 |
| 2018-09-01 | $290,000 (7.8%) | $361,563 (6.8%) | 0.97 | 7,145 |
| 2018-10-01 | $289,950 (8.7%) | $355,402 (5.8%) | 0.97 | 7,335 |
| 2018-11-01 | $289,900 (7.7%) | $355,120 (6.2%) | 0.97 | 7,208 |
| 2018-12-01 | $291,065 (9.8%) | $355,802 (7.5%) | 1.00 | 6,581 |
| 2019-01-01 | $299,000 (7.3%) | $359,247 (5.2%) | 1.03 | 6,140 |
| 2019-02-01 | $311,225 (6.2%) | $371,414 (4.2%) | 1.04 | 5,835 |
| 2019-03-01 | $316,714 (5.6%) | $378,354 (3.9%) | 1.03 | 5,797 |
| 2019-04-01 | $322,000 (5.6%) | $385,048 (3.2%) | 1.01 | 5,840 |
| 2019-05-01 | $324,450 (7.9%) | $388,804 (4.7%) | 1.00 | 6,172 |
| 2019-06-01 | $320,000 (7.4%) | $388,467 (6.0%) | 0.98 | 6,353 |
| 2019-07-01 | $309,500 (5.1%) | $380,132 (4.2%) | 0.96 | 6,626 |
| 2019-08-01 | $300,693 (3.7%) | $372,567 (2.9%) | 0.95 | 6,665 |
| 2019-09-01 | $295,668 (2.0%) | $367,183 (1.6%) | 0.94 | 6,700 |
| 2019-10-01 | $311,000 (7.3%) | $383,531 (7.9%) | 0.99 | 6,865 |
| 2019-11-01 | $310,900 (7.2%) | $382,678 (7.8%) | 1.00 | 6,540 |
| 2019-12-01 | $314,950 (8.2%) | $385,063 (8.2%) | 1.05 | 5,701 |
| 2020-01-01 | $324,425 (8.5%) | $392,819 (9.4%) | 1.08 | 5,044 |
| 2020-02-01 | $339,000 (8.9%) | $410,751 (10.6%) | 1.09 | 4,654 |
| 2020-03-01 | $350,058 (10.5%) | $431,160 (14.0%) | 1.09 | 4,441 |
| 2020-04-01 | $353,950 (9.9%) | $431,722 (12.1%) | 1.10 | 4,464 |
| 2020-05-01 | $370,270 (14.1%) | $456,496 (17.4%) | 1.12 | 4,260 |
| 2020-06-01 | $379,900 (18.7%) | $480,776 (23.8%) | 1.11 | 3,912 |
| 2020-07-01 | $377,400 (21.9%) | $474,960 (25.0%) | 1.08 | 3,629 |
| 2020-08-01 | $365,000 (21.4%) | $471,991 (26.7%) | 1.04 | 3,460 |
| 2020-09-01 | $359,450 (21.6%) | $466,828 (27.1%) | 1.03 | 3,422 |
| 2020-10-01 | $350,000 (12.5%) | $453,788 (18.3%) | 1.00 | 3,523 |
| 2020-11-01 | $340,475 (9.5%) | $435,678 (13.9%) | 0.97 | 3,421 |
| 2020-12-01 | $325,000 (3.2%) | $415,488 (7.9%) | 0.95 | 3,064 |
| 2021-01-01 | $334,200 (3.0%) | $425,607 (8.4%) | 0.98 | 2,573 |
| 2021-02-01 | $349,925 (3.2%) | $456,968 (11.3%) | 1.01 | 2,002 |
| 2021-03-01 | $349,875 (-0.1%) | $460,245 (6.8%) | 0.98 | 1,895 |
| 2021-04-01 | $344,500 (-2.7%) | $453,598 (5.1%) | 0.93 | 1,988 |
| 2021-05-01 | $343,750 (-7.2%) | $445,355 (-2.4%) | 0.90 | 2,150 |
| 2021-06-01 | $331,975 (-12.6%) | $428,075 (-11.0%) | 0.86 | 2,480 |
| 2021-07-01 | $330,000 (-12.6%) | $425,386 (-10.4%) | 0.86 | 2,918 |
| 2021-08-01 | $322,248 (-11.7%) | $411,634 (-12.8%) | 0.85 | 3,211 |
| 2021-09-01 | $324,925 (-9.6%) | $405,683 (-13.1%) | 0.86 | 3,362 |
| 2021-10-01 | $325,000 (-7.1%) | $409,075 (-9.9%) | 0.86 | 3,309 |
| 2021-11-01 | $332,488 (-2.4%) | $410,907 (-5.7%) | 0.88 | 3,079 |
| 2021-12-01 | $347,450 (6.9%) | $416,257 (0.2%) | 0.93 | 2,695 |
| 2022-01-01 | $369,000 (10.4%) | $434,628 (2.1%) | 0.98 | 2,182 |
| 2022-02-01 | $387,500 (10.7%) | $453,421 (-0.8%) | 0.99 | 1,991 |
| 2022-03-01 | $389,900 (11.4%) | $445,296 (-3.3%) | 0.96 | 2,022 |
| 2022-04-01 | $389,000 (12.9%) | $453,289 (-0.1%) | 0.92 | 2,173 |
Kansas City's median listing price comes in at 92% of the national average.
Kansas City's average listing price for 2022-04-01 was $453,289, a difference of $-309 (-0.1%) versus the prior year and $7,993 versus the prior month.
For the 2022-04-01 period, Kansas City had 2,173 MLS listings, a difference of 151 listings (7%) versus the prior month and 185 listings (9%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Kansas 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 | 2,211 sqft |
| 2018-02-01 | 86 days | 2,272 sqft |
| 2018-03-01 | 58 days | 2,320 sqft |
| 2018-04-01 | 50 days | 2,374 sqft |
| 2018-05-01 | 47 days | 2,399 sqft |
| 2018-06-01 | 47 days | 2,372 sqft |
| 2018-07-01 | 51 days | 2,395 sqft |
| 2018-08-01 | 53 days | 2,372 sqft |
| 2018-09-01 | 58 days | 2,351 sqft |
| 2018-10-01 | 61 days | 2,300 sqft |
| 2018-11-01 | 63 days | 2,243 sqft |
| 2018-12-01 | 78 days | 2,205 sqft |
| 2019-01-01 | 86 days | 2,206 sqft |
| 2019-02-01 | 91 days | 2,249 sqft |
| 2019-03-01 | 67 days | 2,299 sqft |
| 2019-04-01 | 50 days | 2,348 sqft |
| 2019-05-01 | 43 days | 2,354 sqft |
| 2019-06-01 | 50 days | 2,359 sqft |
| 2019-07-01 | 51 days | 2,289 sqft |
| 2019-08-01 | 51 days | 2,247 sqft |
| 2019-09-01 | 51 days | 2,213 sqft |
| 2019-10-01 | 57 days | 2,288 sqft |
| 2019-11-01 | 63 days | 2,280 sqft |
| 2019-12-01 | 78 days | 2,243 sqft |
| 2020-01-01 | 90 days | 2,274 sqft |
| 2020-02-01 | 94 days | 2,323 sqft |
| 2020-03-01 | 65 days | 2,401 sqft |
| 2020-04-01 | 63 days | 2,403 sqft |
| 2020-05-01 | 69 days | 2,458 sqft |
| 2020-06-01 | 61 days | 2,510 sqft |
| 2020-07-01 | 52 days | 2,469 sqft |
| 2020-08-01 | 51 days | 2,386 sqft |
| 2020-09-01 | 48 days | 2,351 sqft |
| 2020-10-01 | 44 days | 2,321 sqft |
| 2020-11-01 | 49 days | 2,216 sqft |
| 2020-12-01 | 58 days | 2,141 sqft |
| 2021-01-01 | 70 days | 2,105 sqft |
| 2021-02-01 | 69 days | 2,156 sqft |
| 2021-03-01 | 51 days | 2,173 sqft |
| 2021-04-01 | 41 days | 2,139 sqft |
| 2021-05-01 | 40 days | 2,112 sqft |
| 2021-06-01 | 38 days | 2,082 sqft |
| 2021-07-01 | 38 days | 2,074 sqft |
| 2021-08-01 | 39 days | 2,030 sqft |
| 2021-09-01 | 43 days | 2,018 sqft |
| 2021-10-01 | 46 days | 2,000 sqft |
| 2021-11-01 | 49 days | 2,010 sqft |
| 2021-12-01 | 57 days | 2,036 sqft |
| 2022-01-01 | 69 days | 2,061 sqft |
| 2022-02-01 | 66 days | 2,112 sqft |
| 2022-03-01 | 48 days | 2,084 sqft |
| 2022-04-01 | 39 days | 2,092 sqft |
Kansas City's median square footage for active listings during the 2022-04-01 period was 2,092 sqft. One year prior, the average listing was 2,139 sqft.
