Kearney FHA Loan Rates, Closing Costs & Stats

Kearney, NE

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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.

    Kearney's 18 lenders originated 85 FHA loans during 2023. The total origination value was $17,075,000, with an average FHA loan value of $200,882.

    Kearney FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Kearney averaged 6.77% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Kearney's average FHA mortgage closing costs are $6,201.

    The average rate for the prior week (2024-04-12) was 6.66% and one month ago for the week of 2024-03-15, the average rate was 6.73%.

    The average rate one year ago was 6.36%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Kearney 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 Kearney level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Pinnacle Bank 24 6.71% $7,137
    First National Bank of Omaha 19 6.49% $6,760
    QUICKEN LOANS, LLC 16 6.38% $9,329
    UNITED WHOLESALE MORTGAGE, LLC 7 6.94% $7,787
    CHARTER WEST BANK 2 7.00% $7,132
    BROKER SOLUTIONS, INC. 2 7.25% $8,053
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $9,534
    PHH Mortgage Corporation 1 7.13% $9,592
    Plains Commerce Bank 1 7.13% $6,311
    Regent Financial Group, Inc. 1 5.75% $5,156
    Servion, Inc. 1 6.88% $5,988
    Unify Home Lending Inc. 1 7.25% $5,475
    NFM, INC. 1 7.13% $21,016
    CENTENNIAL LENDING, LLC 1 7.75% $9,295
    CROSSCOUNTRY MORTGAGE, LLC 1 7.75% $7,053
    GERSHMAN INVESTMENT CORP. 1 5.75% $7,150
    Home Federal Savings & Loan Association of Grand Island 1 6.50% $5,583
    Members Mortgage Services, L.L.C. 1 6.25% $4,558

    The top Kearney FHA lender as defined by loan originations is Pinnacle Bank, with 24 FHA loans originated. Their average total fees are $7,137, which is $377 higher than the next largest lender, First National Bank of Omaha.

    The lowest fee Kearney FHA lenders (with over 10 loans originated) are First National Bank of Omaha ($6,760), Pinnacle Bank ($7,137), QUICKEN LOANS, LLC ($9,329), .

    The lowest rate Kearney FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.38%), First National Bank of Omaha (6.49%), Pinnacle Bank (6.71%), .

    Kearney FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Kearney (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 $201,650 (-6.5%) $243,191 (7.5%) 0.00 132
    2018-02-01 $206,725 (1.6%) $244,694 (4.7%) 0.00 135
    2018-03-01 $225,000 (14.4%) $254,100 (6.8%) 0.00 132
    2018-04-01 $217,425 (10.1%) $248,589 (4.2%) 0.00 139
    2018-05-01 $230,750 (3.7%) $259,462 (1.5%) 0.00 142
    2018-06-01 $234,950 (1.3%) $266,041 (-2.3%) 0.00 157
    2018-07-01 $229,650 (0.6%) $268,691 (-0.3%) 0.00 156
    2018-08-01 $220,000 (-5.4%) $256,871 (-3.1%) 0.00 159
    2018-09-01 $219,900 (-6.8%) $247,433 (-7.8%) 0.00 160
    2018-10-01 $218,925 (-1.7%) $244,147 (-6.6%) 0.00 174
    2018-11-01 $214,225 (-2.5%) $239,581 (-5.6%) 0.00 172
    2018-12-01 $200,000 (-2.4%) $231,729 (-7.3%) 0.00 174
    2019-01-01 $195,400 (-3.1%) $225,739 (-7.2%) 0.00 169
    2019-02-01 $197,175 (-4.6%) $228,630 (-6.6%) 0.00 165
    2019-03-01 $218,514 (-2.9%) $239,372 (-5.8%) 0.00 166
    2019-04-01 $228,575 (5.1%) $242,996 (-2.3%) 0.00 174
    2019-05-01 $219,375 (-4.9%) $236,495 (-8.9%) 0.00 172
    2019-06-01 $225,000 (-4.2%) $245,272 (-7.8%) 0.00 166
    2019-07-01 $229,225 (-0.2%) $244,328 (-9.1%) 0.00 154
    2019-08-01 $228,209 (3.7%) $242,265 (-5.7%) 0.00 154
    2019-09-01 $226,348 (2.9%) $243,964 (-1.4%) 0.00 151
    2019-10-01 $224,900 (2.7%) $243,243 (-0.4%) 0.00 148
    2019-11-01 $219,000 (2.2%) $239,515 (0.0%) 0.00 133
    2019-12-01 $214,900 (7.5%) $232,429 (0.3%) 0.00 128
    2020-01-01 $209,950 (7.5%) $224,656 (-0.5%) 0.00 121
    2020-02-01 $198,250 (0.6%) $224,641 (-1.8%) 0.00 103
    2020-03-01 $209,900 (-3.9%) $236,357 (-1.3%) 0.00 97
    2020-04-01 $209,425 (-8.4%) $243,672 (0.3%) 0.00 102
    2020-05-01 $242,500 (10.5%) $265,009 (12.1%) 0.00 90
    2020-06-01 $255,650 (13.6%) $284,091 (15.8%) 0.00 85
    2020-07-01 $257,725 (12.4%) $289,643 (18.6%) 0.00 81
    2020-08-01 $254,950 (11.7%) $277,951 (14.7%) 0.00 86
    2020-09-01 $216,075 (-4.5%) $246,315 (1.0%) 0.00 63
    2020-10-01 $213,500 (-5.1%) $250,616 (3.0%) 0.00 67
    2020-11-01 $230,950 (5.5%) $267,408 (11.7%) 0.00 63
    2020-12-01 $236,200 (9.9%) $275,384 (18.5%) 0.00 53
    2021-01-01 $239,900 (14.3%) $300,959 (34.0%) 0.00 37
    2021-02-01 $281,225 (41.9%) $312,013 (38.9%) 0.00 38
    2021-03-01 $274,950 (31.0%) $318,012 (34.6%) 0.00 34
    2021-04-01 $333,250 (59.1%) $368,245 (51.1%) 0.00 26
    2021-05-01 $266,200 (9.8%) $352,223 (32.9%) 0.00 31
    2021-06-01 $241,675 (-5.5%) $341,510 (20.2%) 0.00 39
    2021-07-01 $259,900 (0.8%) $358,854 (23.9%) 0.00 41
    2021-08-01 $266,875 (4.7%) $369,204 (32.8%) 0.00 45
    2021-09-01 $249,975 (15.7%) $352,455 (43.1%) 0.00 51
    2021-10-01 $284,900 (33.4%) $335,290 (33.8%) 0.00 51
    2021-11-01 $244,250 (5.8%) $292,621 (9.4%) 0.00 61
    2021-12-01 $265,925 (12.6%) $288,324 (4.7%) 0.00 48
    2022-01-01 $269,000 (12.1%) $289,003 (-4.0%) 0.00 37
    2022-02-01 $284,600 (1.2%) $303,093 (-2.9%) 0.00 30
    2022-03-01 $315,000 (14.6%) $317,012 (-0.3%) 0.00 27
    2022-04-01 $317,500 (-4.7%) $313,704 (-14.8%) 0.00 29
    2022-05-01 $267,450 (0.5%) $304,443 (-13.6%) 0.00 37
    2022-06-01 $329,700 (36.4%) $362,907 (6.3%) 0.00 51
    2022-07-01 $329,700 (26.9%) $371,997 (3.7%) 0.00 60
    2022-08-01 $284,900 (6.8%) $352,474 (-4.5%) 0.00 69
    2022-09-01 $284,800 (13.9%) $342,308 (-2.9%) 0.00 77
    2022-10-01 $312,900 (9.8%) $352,179 (5.0%) 0.00 76
    2022-11-01 $319,900 (31.0%) $354,005 (21.0%) 0.00 71
    2022-12-01 $319,900 (20.3%) $335,388 (16.3%) 0.00 61
    2023-01-01 $322,900 (20.0%) $323,943 (12.1%) 0.00 56
    2023-02-01 $346,225 (21.7%) $331,555 (9.4%) 0.00 47
    2023-03-01 $351,150 (11.5%) $361,753 (14.1%) 0.00 42
    2023-04-01 $349,900 (10.2%) $359,905 (14.7%) 0.00 38
    2023-05-01 $379,000 (41.7%) $389,223 (27.9%) 0.00 39
    2023-06-01 $332,250 (0.8%) $353,632 (-2.6%) 0.00 49
    2023-07-01 $315,000 (-4.5%) $339,403 (-8.8%) 0.00 64
    2023-08-01 $334,675 (17.5%) $363,151 (3.0%) 0.00 71
    2023-09-01 $332,350 (16.7%) $352,259 (2.9%) 0.00 75
    2023-10-01 $333,400 (6.6%) $348,527 (-1.0%) 0.00 96
    2023-11-01 $330,625 (3.4%) $352,542 (-0.4%) 0.00 105
    2023-12-01 $329,950 (3.1%) $360,927 (7.6%) 0.00 95
    2024-01-01 $331,550 (2.7%) $360,193 (11.2%) 0.00 85
    2024-02-01 $333,400 (-3.7%) $359,239 (8.4%) 0.00 77
    2024-03-01 $344,850 (-1.8%) $410,098 (13.4%) 0.00 55
    Kearney's median listing price for 2024-03-01 was $344,850, a difference of $-6,300 (-1.8%) versus the prior year and $11,450 versus the prior month.

    Kearney's median listing price comes in at 0% of the national average.

    Kearney's average listing price for 2024-03-01 was $410,098, a difference of $48,345 (13.4%) versus the prior year and $50,859 versus the prior month.

    For the 2024-03-01 period, Kearney had 55 MLS listings, a difference of -22 listings (-29%) versus the prior month and 13 listings (31%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Kearney (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,454 sqft
    2018-02-01 0 days 2,490 sqft
    2018-03-01 0 days 2,659 sqft
    2018-04-01 0 days 2,401 sqft
    2018-05-01 0 days 2,693 sqft
    2018-06-01 0 days 2,744 sqft
    2018-07-01 0 days 2,673 sqft
    2018-08-01 0 days 2,562 sqft
    2018-09-01 0 days 2,544 sqft
    2018-10-01 0 days 2,540 sqft
    2018-11-01 0 days 2,496 sqft
    2018-12-01 0 days 2,464 sqft
    2019-01-01 0 days 2,404 sqft
    2019-02-01 0 days 2,434 sqft
    2019-03-01 0 days 2,539 sqft
    2019-04-01 0 days 2,532 sqft
    2019-05-01 0 days 2,498 sqft
    2019-06-01 0 days 2,542 sqft
    2019-07-01 0 days 2,580 sqft
    2019-08-01 0 days 2,564 sqft
    2019-09-01 0 days 2,564 sqft
    2019-10-01 0 days 2,563 sqft
    2019-11-01 0 days 2,520 sqft
    2019-12-01 0 days 2,520 sqft
    2020-01-01 0 days 2,444 sqft
    2020-02-01 0 days 2,356 sqft
    2020-03-01 0 days 2,349 sqft
    2020-04-01 0 days 2,588 sqft
    2020-05-01 0 days 2,602 sqft
    2020-06-01 0 days 2,645 sqft
    2020-07-01 0 days 2,696 sqft
    2020-08-01 0 days 2,688 sqft
    2020-09-01 0 days 2,514 sqft
    2020-10-01 0 days 2,520 sqft
    2020-11-01 0 days 2,507 sqft
    2020-12-01 0 days 2,520 sqft
    2021-01-01 0 days 2,704 sqft
    2021-02-01 0 days 2,920 sqft
    2021-03-01 0 days 2,886 sqft
    2021-04-01 0 days 3,168 sqft
    2021-05-01 0 days 2,746 sqft
    2021-06-01 0 days 2,608 sqft
    2021-07-01 0 days 2,621 sqft
    2021-08-01 0 days 2,706 sqft
    2021-09-01 0 days 2,648 sqft
    2021-10-01 0 days 2,740 sqft
    2021-11-01 0 days 2,602 sqft
    2021-12-01 0 days 2,597 sqft
    2022-01-01 0 days 2,760 sqft
    2022-02-01 0 days 2,707 sqft
    2022-03-01 0 days 2,585 sqft
    2022-04-01 0 days 2,548 sqft
    2022-05-01 0 days 2,548 sqft
    2022-06-01 0 days 2,576 sqft
    2022-07-01 0 days 2,576 sqft
    2022-08-01 0 days 2,572 sqft
    2022-09-01 0 days 2,566 sqft
    2022-10-01 0 days 2,734 sqft
    2022-11-01 0 days 2,725 sqft
    2022-12-01 0 days 2,667 sqft
    2023-01-01 0 days 2,543 sqft
    2023-02-01 0 days 2,555 sqft
    2023-03-01 0 days 2,755 sqft
    2023-04-01 0 days 2,754 sqft
    2023-05-01 0 days 2,777 sqft
    2023-06-01 0 days 2,631 sqft
    2023-07-01 0 days 2,614 sqft
    2023-08-01 0 days 2,728 sqft
    2023-09-01 0 days 2,751 sqft
    2023-10-01 0 days 2,718 sqft
    2023-11-01 0 days 2,715 sqft
    2023-12-01 0 days 2,693 sqft
    2024-01-01 0 days 2,717 sqft
    2024-02-01 0 days 2,569 sqft
    2024-03-01 0 days 2,568 sqft
    Kearney's median listing age (time on market) for 2024-03-01 was 0 days.

    Kearney's median square footage for active listings during the 2024-03-01 period was 2,568 sqft. One year prior, the average listing was 2,755 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).