Lakeland FHA Loans

LAKELAND-WINTER HAVEN, FL

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.

Lakeland's 251 lenders originated 9,333 FHA loans during 2021. The total origination value was $2,160,905,000, with an average FHA loan value of $231,534.

Lakeland FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Lakeland averaged 5.47% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

The average rate for the prior week (2022-05-13) was 5.18% and one month ago for the week of 2022-04-15, the average rate was 5.17%.

The average rate one year ago was 3.24%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.01%.

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

Lakeland 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 Lakeland level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CALIBER HOME LOANS, INC. 506 3.02% $8,520
QUICKEN LOANS, LLC 495 2.73% $6,211
DHI MORTGAGE COMPANY, LTD. 493 2.85% $8,201
FBC MORTGAGE, LLC 473 3.12% $8,918
FREEDOM MORTGAGE CORPORATION 388 2.93% $6,377
UNITED WHOLESALE MORTGAGE, LLC 358 2.78% $8,222
LOANDEPOT.COM, LLC 332 3.30% $8,466
HOME SOLUTION LENDERS INC. 323 2.77% $8,691
THE MORTGAGE FIRM, INC. 312 3.24% $8,338
HOMEBRIDGE FINANCIAL SERVICES, INC. 191 3.04% $9,350
PENNYMAC LOAN SERVICES, LLC 187 3.16% $5,394
BROKER SOLUTIONS, INC. 178 3.29% $10,120
LAKEVIEW LOAN SERVICING, LLC 162 3.12% $4,441
Paramount Residential Mortgage Group, Inc. 153 3.36% $9,832
AMERIFIRST FINANCIAL CORPORATION 152 3.60% $9,288
Mr. Cooper ( Nationstar Mortgage ) 145 3.33% $3,939
CROSSCOUNTRY MORTGAGE, LLC 139 3.20% $9,570
Plains Commerce Bank 130 2.83% $8,252
NVR Mortgage Finance, Inc. 125 3.12% $9,458
EAGLE HOME MORTGAGE, LLC 125 3.42% $9,611
Lakeview Community Capital, LLC 112 3.07% $4,567
KBHS HOME LOANS, LLC 106 3.28% $10,608
CALCON MUTUAL MORTGAGE LLC 106 3.87% $8,635
NEWREZ LLC 103 3.01% $6,452
Equity Prime Mortgage LLC 95 3.12% $7,172
Mortgage Lenders Investment Trading Corporation 93 3.43% $6,527
PRIMARY RESIDENTIAL MORTGAGE, INC. 93 3.49% $9,314
VILLAGE CAPITAL & INVESTMENT LLC 91 3.01% $2,491
HOMEAMERICAN MORTGAGE CORPORATION 84 2.83% $6,077
Hometown Lenders, Inc. 83 3.44% $10,796
Carrington Mortgage Services, LLC 76 3.43% $8,438
HOME POINT FINANCIAL CORPORATION 76 2.93% $8,514
PARK SQUARE HOME MORTGAGE, LLC 74 2.93% $9,819
MOVEMENT MORTGAGE, LLC 65 3.31% $7,280
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 64 3.21% $7,996
SUCCESS MORTGAGE PARTNERS, INC. 63 3.25% $8,369
AMERICAN FINANCIAL NETWORK, INC. 61 3.35% $13,407
PULTE MORTGAGE LLC 59 3.14% $5,807
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 59 3.26% $8,972
AmeriHome Mortgage Company, LLC 58 3.09% $4,413
GUARANTEED RATE, INC. 53 2.96% $9,164
PLANET HOME LENDING, LLC 45 2.84% $6,520
South Pacific Financial Corporation 42 2.78% $10,716
INSPIRE HOME LOANS INC. 38 3.25% $8,884
HOMESPIRE MORTGAGE CORPORATION 37 3.34% $9,520
JET HOMELOANS, LLC 36 3.25% $9,142
LAND HOME FINANCIAL SERVICES, INC. 30 3.60% $11,837
GUILD MORTGAGE COMPANY 30 3.20% $8,388
UNION HOME MORTGAGE CORP. 29 3.13% $7,946
Nations Lending Corporation 28 3.43% $11,423
MUTUAL OF OMAHA MORTGAGE, INC. 27 3.23% $8,299
GSF Mortgage Corporation 25 3.27% $10,094
PANORAMA MORTGAGE GROUP, LLC 25 3.37% $10,602
HAMILTON HOME LOANS, INC. 24 3.38% $8,351
VANDERBILT MORTGAGE AND FINANCE, INC. 24 3.04% $8,652
AMERICAN FINANCIAL RESOURCES, INC. 24 3.30% $7,288
Waterstone Mortgage Corporation 23 3.25% $11,135
Summit Mortgage Corporation 22 3.10% $9,428
EMBRACE HOME LOANS, INC. 22 2.91% $7,903
AMERISAVE MORTGAGE CORPORATION 21 2.76% $9,516
SHELTER MORTGAGE COMPANY, L.L.C. 21 3.15% $7,630
NATIONS DIRECT MORTGAGE, LLC 21 3.46% $9,845
ACOPIA, LLC 20 3.25% $8,503
Flagstar Bank, FSB 18 2.90% $8,216
South State Bank 17 2.80% $7,855
Commerce Home Mortgage, Inc. 17 3.04% $8,381
CMG MORTGAGE, INC. 17 3.19% $9,526
GUARANTEED RATE AFFINITY, LLC 15 2.94% $9,295
VAN DYK MORTGAGE CORPORATION 15 3.24% $8,637
DAS Acquisition Company, LLC 15 3.29% $7,634
SUN WEST MORTGAGE COMPANY, INC. 15 3.29% $9,297
HALLMARK HOME MORTGAGE, LLC 14 3.02% $9,777
AMERICAN PACIFIC MORTGAGE CORPORATION 14 3.16% $9,220
VELOCIO MORTGAGE L.L.C. 14 3.20% $12,036
Town Square Mortgage & Investments, Inc. 13 3.08% $7,566
Citizens Bank 13 2.83% $7,844
First Guaranty Mortgage Corporation 12 2.98% $7,205
MORTGAGE EQUITY PARTNERS LLC 12 3.28% $9,571
LENDUS, LLC 12 3.40% $10,579
PLAZA HOME MORTGAGE, INC. 12 3.00% $9,792
Hometown Equity Mortgage, LLC 12 3.42% $9,755
EVERETT FINANCIAL, INC. 11 3.43% $7,098
InterContinental Capital Group, Inc 11 2.94% $8,269
LOANPAL, LLC 10 2.84% $8,178
Bank of England 10 3.31% $9,604
OCEANSIDE MORTGAGE COMPANY 9 2.87% $3,651
HOMESIDE FINANCIAL, LLC 9 3.22% $8,334
PRIMELENDING, A PLAINSCAPITAL COMPANY 9 3.31% $10,023
AMCAP MORTGAGE, LTD. 9 3.26% $10,621
ABSOLUTE HOME MORTGAGE CORPORATION 9 2.95% $11,233
MICHIGAN MUTUAL, INC. 8 3.34% $10,217
OCMBC, INC. 8 3.00% $10,767
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 8 3.30% $10,034
EQUITY RESOURCES, INC. 8 2.89% $8,475
CELEBRITY HOME LOANS, LLC 7 3.16% $9,260
COUNTRYPLACE MORTGAGE, LTD. 7 3.91% $11,695
SECURITYNATIONAL MORTGAGE COMPANY 7 2.98% $9,505
FINANCE OF AMERICA MORTGAGE LLC 7 3.00% $7,364
Ameris Bank 7 2.86% $7,272
MID AMERICA MORTGAGE, INC. 7 2.98% $4,173
COLUMBUS CAPITAL LENDING, LLC 6 3.23% $9,184
T2 FINANCIAL LLC 6 3.23% $9,287
OPEN MORTGAGE, LLC 6 3.19% $8,574
First Option Mortgage, LLC 6 3.27% $8,782
KELLER MORTGAGE, LLC 6 2.75% $7,347
Christensen Financial, Inc. 6 3.25% $8,635
M/I FINANCIAL, LLC 6 3.10% $8,369
ROUNDPOINT MORTGAGE SERVICING CORPORATION 6 3.54% $8,897
Bank of America 6 2.88% $5,541
ALLIED MORTGAGE GROUP, INC. 5 2.78% $7,699
GERSHMAN INVESTMENT CORP. 5 3.18% $8,549
Regions Bank 5 2.93% $7,935
HOMEOWNERS FINANCIAL GROUP USA, LLC 5 3.13% $8,057
FAMILY FIRST FUNDING LLC 5 3.18% $9,066
UNITED SECURITY FINANCIAL CORP 5 3.53% $9,778
TOP FLITE FINANCIAL, INC. 5 3.33% $10,728
NORTHPOINT MORTGAGE, INC. 4 2.84% $10,133
NP, Inc. 4 3.56% $8,582
NTFN, INC. 4 3.13% $6,588
NJ LENDERS CORP. 4 3.44% $8,251
GENEVA FINANCIAL, LLC 4 3.41% $8,209
1ST SIGNATURE LENDING, LLC 4 3.22% $9,349
NFM, INC. 4 3.16% $9,323
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 3.53% $9,073
MORIA DEVELOPMENT, INC. 4 3.41% $8,712
Synovus Bank 4 3.06% $9,287
The Federal Savings Bank 4 2.75% $12,197
NATIONS RELIABLE LENDING, LLC 4 3.44% $12,097
ENVOY MORTGAGE, LTD 4 3.06% $8,644
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 3.75% $10,827
Barrington Bank & Trust Company, N.A. 4 3.13% $7,708
BECKAM FUNDING CORP. 4 3.41% $15,585
SOUTHWEST STAGE FUNDING, LLC 4 2.88% $6,194
ZILLOW HOME LOANS, LLC 3 2.58% $7,401
Amerifirst Financial, Inc. 3 3.50% $10,857
ANGEL OAK HOME LOANS LLC 3 3.00% $8,280
CHURCHILL MORTGAGE CORPORATION 3 2.54% $6,726
CITY FIRST MORTGAGE SERVICES, L.L.C. 3 3.42% $12,936
CityWorth Mortgage LLC 3 3.42% $10,446
Colten Mortgage, LLC 3 3.08% $4,755
Evolve Bank & Trust 3 3.04% $7,938
First Horizon Bank 3 3.08% $9,494
Gateway First Bank 3 2.92% $7,438
Home Mortgage Alliance Corp 3 2.33% $8,799
INLANTA MORTGAGE, INC. 3 3.33% $8,934
INTELLILOAN, INC. 3 2.75% $9,156
INTERLINC MORTGAGE SERVICES, LLC 3 3.42% $8,122
JPMorgan Chase Bank 3 2.75% $10,189
LOANLEADERS OF AMERICA, INC. 3 2.96% $9,069
Mortgage Research Center, LLC 3 3.33% $7,156
PHH Mortgage Corporation 3 3.17% $6,394
PREFERRED LENDING SERVICES, LLC 3 3.25% $8,477
RELIANCE FIRST CAPITAL, LLC 3 2.83% $11,707
SIGNATURE MORTGAGE CORPORATION 3 3.21% $8,594
STOCKTON MORTGAGE CORPORATION 3 2.96% $9,968
SWBC MORTGAGE CORPORATION 3 3.08% $9,675
Truist Bank 3 2.70% $7,544
Manufacturers and Traders Trust Company 2 3.00% $7,217
LIBERTY HOME MORTGAGE CORPORATION 2 3.44% $9,339
LEGEND LENDING CORPORATION 2 2.75% $6,729
LEADERONE FINANCIAL CORPORATION 2 3.44% $7,930
Ixonia Bank 2 3.56% $9,723
HOMESTAR FINANCIAL CORPORATION 2 3.50% $10,124
NEW FED MORTGAGE, CORP. 2 2.81% $9,407
GUARANTY HOME MORTGAGE CORPORATION 2 2.94% $9,027
Northpointe Bank 2 3.19% $9,167
GREAT WESTERN FINANCIAL SERVICES, INC. 2 3.31% $11,297
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 3.25% $8,592
FOUNDATION MORTGAGE CORPORATION 2 3.50% $9,067
First Savings Bank 2 2.81% $7,774
FIRST HOME MORTGAGE CORPORATION 2 3.50% $8,251
First Home Bank 2 3.13% $8,873
Financial Freedom Mortgage, LLC 2 3.06% $8,796
PNC Bank 2 2.88% $5,772
PREMIA MORTGAGE, LLC 2 3.19% $4,301
FIDELITY FUNDING MORTGAGE CORP. 2 3.31% $7,592
EMM LOANS LLC 2 2.69% $9,043
RESIDENTIAL BANCORP. 2 2.87% $11,097
RUOFF MORTGAGE COMPANY, INC. 2 3.06% $8,234
DATA MORTGAGE, INC. 2 3.88% $11,830
CROSSFIRE FINANCIAL NETWORK, INC. 2 2.81% $14,894
SOUTHPOINT FINANCIAL SERVICES, INC. 2 3.69% $5,737
CONTOUR MORTGAGE CORPORATION 2 3.56% $8,054
SOVEREIGN LENDING GROUP INCORPORATED 2 2.88% $11,199
WATSON MORTGAGE CORP. 2 3.19% $9,825
Wyndham Capital Mortgage, Inc. 2 2.69% $6,061
Bell Bank 2 2.50% $6,780
Austin Capital Bank SSB 2 3.00% $8,125
The Home Loan Expert LLC 2 2.75% $6,341
ASPIRE FINANCIAL, INC. 2 2.56% $7,573
TOWNE MORTGAGE COMPANY 2 3.69% $8,533
AmRes Corporation 2 3.38% $9,001
UNITED MORTGAGE CORP. 2 2.44% $11,024
AMERICAN FINANCING CORPORATION 2 3.19% $4,186
ALL WESTERN MORTGAGE, INC. 2 4.02% $7,599
Evesham Mortgage, LLC 1 2.75% $8,570
Princeton Mortgage Corporation 1 3.13% $7,839
Prosperity Home Mortgage, LLC 1 4.25% $6,307
Midwest Mortgage Associates Corporation 1 3.25% $8,780
East Coast Capital Corp. 1 2.38% $11,736
RADIUS FINANCIAL GROUP INC. 1 3.13% $10,277
READY MORTGAGE LENDERS, LLC 1 3.13% $12,100
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 3.25% $7,538
V.I.P. MORTGAGE, INC. 1 2.63% $6,422
TOTAL MORTGAGE SERVICES, LLC 1 3.75% $10,924
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 3.63% $7,412
Ross Mortgage Company, Inc. 1 2.25% $8,544
DELMAR FINANCIAL COMPANY 1 3.25% $8,738
ROYAL UNITED MORTGAGE LLC 1 3.88% $7,861
MORTGAGE 1 INCORPORATED 1 2.75% $10,234
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 3.63% $14,451
TruHome Solutions, LLC 1 2.75% $6,738
Acre Mortgage and Financial Inc 1 3.88% $10,248
SOUTHERN TRUST MORTGAGE, LLC 1 3.50% $5,886
Loan Simple, Inc. 1 3.75% $7,419
CRESCENT MORTGAGE COMPANY 1 2.63% $8,542
MSA MORTGAGE, LLC 1 2.75% $9,731
1ST FINANCIAL, INC. 1 3.38% $8,967
MYCUMORTGAGE, LLC 1 3.13% $7,924
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 3.25% $12,679
SOUTHWEST FUNDING, LP 1 3.13% $8,966
CIS Financial Services, Inc. 1 2.88% $13,217
NATIONWIDE MORTGAGE BANKERS, INC. 1 4.25% $10,773
Network Funding, L.P. 1 2.75% $10,721
MCLEAN MORTGAGE CORPORATION 1 3.25% $5,166
HOME FINANCING CENTER, INC. 1 2.88% $7,417
HARBORONE MORTGAGE, LLC 1 2.75% $6,233
AMERICAN MORTGAGE SERVICE COMPANY 1 3.13% $6,150
North American Savings Bank, F.S.B. 1 2.25% $7,667
Strong Home Mortgage, LLC 1 2.50% $8,409
GTE Federal Credit Union 1 2.88% $9,637
GREENTREE MORTGAGE COMPANY, L.P. 1 2.75% $6,392
Chickasaw Community Bank 1 2.38% $5,850
Goldwater Bank, N.A. 1 3.38% $8,413
Century Mortgage Company DBA Century Lending Company 1 3.13% $4,015
Centennial Bank 1 2.50% $7,853
Florida Capital Bank 1 2.63% $11,792
Flanagan State Bank 1 3.63% $7,163
Mortgage Unlimited, L.L.C. 1 2.75% $9,974
AMERICAN ADVISORS GROUP 1 3.75% $7,861
BELEM SERVICING LLC 1 2.88% $6,563
Peoples Bank 1 3.25% $10,428
Alcova Mortgage LLC 1 2.75% $3,386
First Federal Bank, A FSB 1 3.38% $4,113
FIRST COMMUNITY MORTGAGE, INC. 1 2.50% $7,301
MLB RESIDENTIAL LENDING, LLC 1 3.50% $7,768
ML Mortgage Corp. 1 3.75% $7,863
A&D Mortgage LLC 1 2.13% $9,119
THE MONEY HOUSE INC. 1 2.88% $8,240
Premium Mortgage Corporation 1 2.75% $6,945
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 3.63% $6,681

The top Lakeland FHA lender as defined by loan originations is CALIBER HOME LOANS, INC., with 506 FHA loans originated. Their average total fees are $8,520, which is $2,309 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Lakeland FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,491), Mr. Cooper ( Nationstar Mortgage ) ($3,939), AmeriHome Mortgage Company, LLC ($4,413), LAKEVIEW LOAN SERVICING, LLC ($4,441) and Lakeview Community Capital, LLC ($4,567).

The lowest rate Lakeland FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.73%), AMERISAVE MORTGAGE CORPORATION (2.76%), HOME SOLUTION LENDERS INC. (2.77%), UNITED WHOLESALE MORTGAGE, LLC (2.78%) and South Pacific Financial Corporation (2.78%).

Lakeland FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
LAKELAND-WINTER HAVEN, FL POLK 2022 $420,680 $538,650 $651,050 $809,150

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).