Lakeland FHA Loans

LAKELAND-WINTER HAVEN, FL

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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.

    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).