Kirksville FHA Loan Rates, Closing Costs & Stats

Kirksville, 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.

    Kirksville's 17 lenders originated 36 FHA loans during 2023. The total origination value was $5,650,000, with an average FHA loan value of $156,944.

    Kirksville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Kirksville averaged 6.8% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Kirksville's average FHA mortgage closing costs are $5,273.

    The average rate for the prior week (2024-04-12) was 6.79% and one month ago for the week of 2024-03-15, the average rate was 6.86%.

    The average rate one year ago was 6.39%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Kirksville 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 Kirksville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FLAT BRANCH MORTGAGE, INC. 7 6.86% $6,125
    QUICKEN LOANS, LLC 6 6.47% $9,194
    DAS Acquisition Company, LLC 4 6.94% $7,590
    CARDINAL FINANCIAL 1 7.25% $8,536
    ENDEAVOR CAPITAL, LLC. 1 7.49% $6,863
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $2,702
    GUARANTEED RATE, INC. 1 6.75% $4,686
    LOANDEPOT.COM, LLC 1 7.50% $8,893
    MID AMERICA MORTGAGE, INC. 1 7.13% $2,081
    Midwest Mortgage Associates Corporation 1 6.25% $10,887
    Mortgage Investment Services Corporation 1 7.00% $4,166
    Mortgage Research Center, LLC 1 7.63% $3,739
    NBH Bank 1 6.99% $1,695
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.63% $4,397
    U.S. Bank 1 6.13% $3,030
    AXIA FINANCIAL, LLC 1 6.88% $9,170
    BROKER SOLUTIONS, INC. 1 6.75% $7,545

    The top Kirksville FHA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 7 FHA loans originated. Their average total fees are $6,125, which is $3,069 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Kirksville FHA lenders (with over 10 loans originated) are .

    The lowest rate Kirksville FHA lenders (with over 10 loans originated) are .

    Kirksville FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Kirksville (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 $94,950 (5.7%) $155,793 (9.1%) 0.00 109
    2018-02-01 $84,125 (-11.9%) $157,132 (9.0%) 0.00 106
    2018-03-01 $104,900 (-0.8%) $166,116 (9.2%) 0.00 110
    2018-04-01 $114,950 (4.6%) $171,283 (7.5%) 0.00 123
    2018-05-01 $122,150 (11.1%) $175,582 (11.0%) 0.00 131
    2018-06-01 $119,900 (4.3%) $163,158 (1.8%) 0.00 138
    2018-07-01 $124,900 (9.9%) $160,439 (1.4%) 0.00 139
    2018-08-01 $116,650 (3.7%) $159,301 (-1.2%) 0.00 137
    2018-09-01 $99,900 (-7.5%) $147,247 (-5.4%) 0.00 125
    2018-10-01 $95,200 (-2.1%) $145,527 (-5.3%) 0.00 116
    2018-11-01 $99,900 (6.4%) $149,982 (-0.4%) 0.00 116
    2018-12-01 $105,000 (10.5%) $150,372 (-5.7%) 0.00 111
    2019-01-01 $104,500 (10.1%) $154,904 (-0.6%) 0.00 98
    2019-02-01 $104,500 (24.2%) $157,985 (0.5%) 0.00 97
    2019-03-01 $100,886 (-3.8%) $159,860 (-3.8%) 0.00 99
    2019-04-01 $100,886 (-12.2%) $162,759 (-5.0%) 0.00 99
    2019-05-01 $99,900 (-18.2%) $165,816 (-5.6%) 0.00 98
    2019-06-01 $99,900 (-16.7%) $164,507 (0.8%) 0.00 113
    2019-07-01 $107,225 (-14.2%) $168,676 (5.1%) 0.00 121
    2019-08-01 $106,736 (-8.5%) $170,964 (7.3%) 0.00 122
    2019-09-01 $102,666 (2.8%) $164,631 (11.8%) 0.00 122
    2019-10-01 $99,800 (4.8%) $161,750 (11.2%) 0.00 125
    2019-11-01 $99,500 (-0.4%) $170,894 (13.9%) 0.00 109
    2019-12-01 $95,600 (-9.0%) $166,746 (10.9%) 0.00 98
    2020-01-01 $89,675 (-14.2%) $166,928 (7.8%) 0.00 93
    2020-02-01 $88,500 (-15.3%) $163,703 (3.6%) 0.00 95
    2020-03-01 $93,944 (-6.9%) $165,654 (3.6%) 0.00 105
    2020-04-01 $102,300 (1.4%) $169,666 (4.2%) 0.00 111
    2020-05-01 $109,900 (10.0%) $175,829 (6.0%) 0.00 102
    2020-06-01 $126,150 (26.3%) $193,366 (17.5%) 0.00 96
    2020-07-01 $119,000 (11.0%) $192,784 (14.3%) 0.00 85
    2020-08-01 $116,250 (8.9%) $191,274 (11.9%) 0.00 88
    2020-09-01 $114,950 (12.0%) $193,989 (17.8%) 0.00 80
    2020-10-01 $109,500 (9.7%) $185,824 (14.9%) 0.00 81
    2020-11-01 $117,000 (17.6%) $190,458 (11.5%) 0.00 72
    2020-12-01 $99,675 (4.3%) $164,608 (-1.3%) 0.00 77
    2021-01-01 $97,500 (8.7%) $165,866 (-0.6%) 0.00 76
    2021-02-01 $94,475 (6.8%) $171,758 (4.9%) 0.00 80
    2021-03-01 $90,575 (-3.6%) $162,114 (-2.1%) 0.00 75
    2021-04-01 $89,900 (-12.1%) $161,427 (-4.9%) 0.00 67
    2021-05-01 $117,400 (6.8%) $163,718 (-6.9%) 0.00 66
    2021-06-01 $108,650 (-13.9%) $160,698 (-16.9%) 0.00 64
    2021-07-01 $111,950 (-5.9%) $165,042 (-14.4%) 0.00 69
    2021-08-01 $116,600 (0.3%) $156,218 (-18.3%) 0.00 81
    2021-09-01 $119,750 (4.2%) $165,814 (-14.5%) 0.00 82
    2021-10-01 $124,500 (13.7%) $176,204 (-5.2%) 0.00 82
    2021-11-01 $149,900 (28.1%) $302,133 (58.6%) 0.00 86
    2021-12-01 $130,800 (31.2%) $295,003 (79.2%) 0.00 82
    2022-01-01 $138,000 (41.5%) $322,115 (94.2%) 0.00 71
    2022-02-01 $149,900 (58.7%) $334,522 (94.8%) 0.00 64
    2022-03-01 $169,350 (87.0%) $379,026 (133.8%) 0.00 51
    2022-04-01 $159,900 (77.9%) $397,158 (146.0%) 0.00 45
    2022-05-01 $150,875 (28.5%) $382,977 (133.9%) 0.00 51
    2022-06-01 $187,400 (72.5%) $420,577 (161.7%) 0.00 54
    2022-07-01 $193,500 (72.9%) $361,117 (118.8%) 0.00 74
    2022-08-01 $185,950 (59.5%) $346,761 (122.0%) 0.00 81
    2022-09-01 $174,975 (46.1%) $324,107 (95.5%) 0.00 83
    2022-10-01 $179,900 (44.5%) $342,196 (94.2%) 0.00 70
    2022-11-01 $175,000 (16.7%) $344,245 (13.9%) 0.00 65
    2022-12-01 $168,750 (29.0%) $353,113 (19.7%) 0.00 56
    2023-01-01 $179,200 (29.9%) $284,181 (-11.8%) 0.00 56
    2023-02-01 $190,450 (27.1%) $251,554 (-24.8%) 0.00 56
    2023-03-01 $212,950 (25.8%) $249,059 (-34.3%) 0.00 64
    2023-04-01 $213,900 (33.8%) $247,584 (-37.7%) 0.00 63
    2023-05-01 $198,925 (31.9%) $217,291 (-43.3%) 0.00 68
    2023-06-01 $189,950 (1.4%) $211,856 (-49.6%) 0.00 75
    2023-07-01 $187,400 (-3.2%) $224,878 (-37.7%) 0.00 83
    2023-08-01 $190,000 (2.2%) $237,164 (-31.6%) 0.00 78
    2023-09-01 $190,000 (8.6%) $246,300 (-24.0%) 0.00 84
    2023-10-01 $197,250 (9.6%) $253,603 (-25.9%) 0.00 83
    2023-11-01 $191,650 (9.5%) $258,538 (-24.9%) 0.00 86
    2023-12-01 $173,950 (3.1%) $252,751 (-28.4%) 0.00 75
    2024-01-01 $177,475 (-1.0%) $253,739 (-10.7%) 0.00 65
    2024-02-01 $158,750 (-16.6%) $238,738 (-5.1%) 0.00 73
    2024-03-01 $159,900 (-24.9%) $270,281 (8.5%) 0.00 79
    Kirksville's median listing price for 2024-03-01 was $159,900, a difference of $-53,050 (-24.9%) versus the prior year and $1,150 versus the prior month.

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

    Kirksville's average listing price for 2024-03-01 was $270,281, a difference of $21,222 (8.5%) versus the prior year and $31,543 versus the prior month.

    For the 2024-03-01 period, Kirksville had 79 MLS listings, a difference of 6 listings (8%) versus the prior month and 15 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Kirksville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,414 sqft
    2018-02-01 0 days 1,400 sqft
    2018-03-01 0 days 1,405 sqft
    2018-04-01 0 days 1,475 sqft
    2018-05-01 0 days 1,530 sqft
    2018-06-01 0 days 1,526 sqft
    2018-07-01 0 days 1,531 sqft
    2018-08-01 0 days 1,470 sqft
    2018-09-01 0 days 1,415 sqft
    2018-10-01 0 days 1,401 sqft
    2018-11-01 0 days 1,401 sqft
    2018-12-01 0 days 1,404 sqft
    2019-01-01 0 days 1,400 sqft
    2019-02-01 0 days 1,401 sqft
    2019-03-01 0 days 1,465 sqft
    2019-04-01 0 days 1,538 sqft
    2019-05-01 0 days 1,513 sqft
    2019-06-01 0 days 1,501 sqft
    2019-07-01 0 days 1,475 sqft
    2019-08-01 0 days 1,507 sqft
    2019-09-01 0 days 1,449 sqft
    2019-10-01 0 days 1,440 sqft
    2019-11-01 0 days 1,500 sqft
    2019-12-01 0 days 1,497 sqft
    2020-01-01 0 days 1,438 sqft
    2020-02-01 0 days 1,405 sqft
    2020-03-01 0 days 1,488 sqft
    2020-04-01 0 days 1,561 sqft
    2020-05-01 0 days 1,575 sqft
    2020-06-01 0 days 1,635 sqft
    2020-07-01 0 days 1,646 sqft
    2020-08-01 0 days 1,680 sqft
    2020-09-01 0 days 1,578 sqft
    2020-10-01 0 days 1,518 sqft
    2020-11-01 0 days 1,534 sqft
    2020-12-01 0 days 1,474 sqft
    2021-01-01 0 days 1,468 sqft
    2021-02-01 0 days 1,433 sqft
    2021-03-01 0 days 1,348 sqft
    2021-04-01 0 days 1,407 sqft
    2021-05-01 0 days 1,419 sqft
    2021-06-01 0 days 1,462 sqft
    2021-07-01 0 days 1,474 sqft
    2021-08-01 0 days 1,369 sqft
    2021-09-01 0 days 1,374 sqft
    2021-10-01 0 days 1,314 sqft
    2021-11-01 0 days 1,410 sqft
    2021-12-01 0 days 1,435 sqft
    2022-01-01 0 days 1,465 sqft
    2022-02-01 0 days 1,451 sqft
    2022-03-01 0 days 1,680 sqft
    2022-04-01 0 days 1,658 sqft
    2022-05-01 0 days 1,436 sqft
    2022-06-01 0 days 1,840 sqft
    2022-07-01 0 days 1,957 sqft
    2022-08-01 0 days 1,711 sqft
    2022-09-01 0 days 1,699 sqft
    2022-10-01 0 days 1,752 sqft
    2022-11-01 0 days 1,635 sqft
    2022-12-01 0 days 1,619 sqft
    2023-01-01 0 days 1,619 sqft
    2023-02-01 0 days 1,672 sqft
    2023-03-01 0 days 1,658 sqft
    2023-04-01 0 days 1,598 sqft
    2023-05-01 0 days 1,622 sqft
    2023-06-01 0 days 1,600 sqft
    2023-07-01 0 days 1,656 sqft
    2023-08-01 0 days 1,777 sqft
    2023-09-01 0 days 1,778 sqft
    2023-10-01 0 days 1,800 sqft
    2023-11-01 0 days 1,800 sqft
    2023-12-01 0 days 1,555 sqft
    2024-01-01 0 days 1,550 sqft
    2024-02-01 0 days 1,496 sqft
    2024-03-01 0 days 1,493 sqft
    Kirksville's median listing age (time on market) for 2024-03-01 was 0 days.

    Kirksville's median square footage for active listings during the 2024-03-01 period was 1,493 sqft. One year prior, the average listing was 1,658 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).