Lawrence FHA Loan Rates, Closing Costs & Stats
LAWRENCE, 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.
Lawrence's 43 lenders originated 134 FHA loans during 2023. The total origination value was $32,430,000, with an average FHA loan value of $242,015.
Lawrence FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Lawrence
averaged
0.19%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Lawrence's average FHA mortgage closing costs are $6,439.
The average rate for the prior week (2024-11-22) was
6.38% and
one month ago for the week of 2024-10-25, the
average rate was 6.56%.
The average rate one year ago was 7.05%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0%.
Lawrence 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 Lawrence level.
The top Lawrence FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
22 FHA loans originated. Their average total fees are
$10,552, which is $1,963
higher than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee Lawrence FHA lenders (with over 10 loans originated) are
FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,590), QUICKEN LOANS, LLC ($10,552), .
The lowest rate Lawrence FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.25%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.83%), .
Lawrence FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
LAWRENCE, KS | DOUGLAS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
LAWRENCE, KS | DOUGLAS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Lawrence (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $289,900 (28.9%) | $345,537 (5.6%) | 0.00 | 217 |
2018-02-01 | $304,250 (26.8%) | $348,417 (4.1%) | 0.00 | 208 |
2018-03-01 | $299,700 (16.4%) | $355,314 (1.8%) | 0.00 | 219 |
2018-04-01 | $306,963 (12.3%) | $355,672 (-1.1%) | 0.00 | 235 |
2018-05-01 | $312,875 (5.2%) | $364,974 (0.2%) | 0.00 | 258 |
2018-06-01 | $295,900 (1.3%) | $350,546 (-0.6%) | 0.00 | 300 |
2018-07-01 | $298,000 (1.3%) | $350,665 (-2.2%) | 0.00 | 340 |
2018-08-01 | $278,900 (-1.3%) | $337,867 (-3.1%) | 0.00 | 348 |
2018-09-01 | $279,925 (0.2%) | $340,954 (1.0%) | 0.00 | 343 |
2018-10-01 | $282,475 (1.2%) | $338,556 (1.6%) | 0.00 | 326 |
2018-11-01 | $279,925 (-2.5%) | $333,430 (-1.0%) | 0.00 | 324 |
2018-12-01 | $284,450 (0.7%) | $337,646 (0.7%) | 0.00 | 287 |
2019-01-01 | $300,000 (3.5%) | $339,354 (-1.8%) | 0.00 | 252 |
2019-02-01 | $318,900 (4.8%) | $339,542 (-2.6%) | 0.00 | 240 |
2019-03-01 | $313,921 (4.8%) | $338,541 (-4.7%) | 0.00 | 268 |
2019-04-01 | $306,946 (0.0%) | $339,081 (-4.7%) | 0.00 | 294 |
2019-05-01 | $317,450 (1.5%) | $359,018 (-1.6%) | 0.00 | 299 |
2019-06-01 | $314,900 (6.4%) | $351,277 (0.2%) | 0.00 | 333 |
2019-07-01 | $299,924 (0.7%) | $350,612 (0.0%) | 0.00 | 347 |
2019-08-01 | $299,000 (7.2%) | $349,978 (3.6%) | 0.00 | 343 |
2019-09-01 | $299,000 (6.8%) | $352,743 (3.5%) | 0.00 | 343 |
2019-10-01 | $299,000 (5.9%) | $352,515 (4.1%) | 0.00 | 346 |
2019-11-01 | $299,900 (7.1%) | $356,531 (6.9%) | 0.00 | 335 |
2019-12-01 | $307,400 (8.1%) | $361,759 (7.1%) | 0.00 | 275 |
2020-01-01 | $312,400 (4.1%) | $366,565 (8.0%) | 0.00 | 245 |
2020-02-01 | $317,000 (-0.6%) | $375,742 (10.7%) | 0.00 | 246 |
2020-03-01 | $322,450 (2.7%) | $377,637 (11.6%) | 0.00 | 257 |
2020-04-01 | $326,975 (6.5%) | $374,204 (10.4%) | 0.00 | 259 |
2020-05-01 | $329,900 (3.9%) | $378,545 (5.4%) | 0.00 | 249 |
2020-06-01 | $322,900 (2.5%) | $392,231 (11.7%) | 0.00 | 212 |
2020-07-01 | $325,175 (8.4%) | $401,160 (14.4%) | 0.00 | 185 |
2020-08-01 | $308,000 (3.0%) | $382,614 (9.3%) | 0.00 | 175 |
2020-09-01 | $289,925 (-3.0%) | $362,219 (2.7%) | 0.00 | 176 |
2020-10-01 | $300,000 (0.3%) | $379,948 (7.8%) | 0.00 | 164 |
2020-11-01 | $299,950 (0.0%) | $383,591 (7.6%) | 0.00 | 139 |
2020-12-01 | $288,700 (-6.1%) | $385,931 (6.7%) | 0.00 | 110 |
2021-01-01 | $299,900 (-4.0%) | $382,786 (4.4%) | 0.00 | 89 |
2021-02-01 | $324,000 (2.2%) | $402,219 (7.1%) | 0.00 | 74 |
2021-03-01 | $287,000 (-11.0%) | $366,935 (-2.8%) | 0.00 | 71 |
2021-04-01 | $301,950 (-7.7%) | $372,630 (-0.4%) | 0.00 | 81 |
2021-05-01 | $299,925 (-9.1%) | $371,751 (-1.8%) | 0.00 | 85 |
2021-06-01 | $304,975 (-5.6%) | $363,954 (-7.2%) | 0.00 | 95 |
2021-07-01 | $306,950 (-5.6%) | $366,950 (-8.5%) | 0.00 | 123 |
2021-08-01 | $309,963 (0.6%) | $356,178 (-6.9%) | 0.00 | 143 |
2021-09-01 | $329,925 (13.8%) | $358,238 (-1.1%) | 0.00 | 128 |
2021-10-01 | $342,450 (14.2%) | $372,969 (-1.8%) | 0.00 | 135 |
2021-11-01 | $351,425 (17.2%) | $378,878 (-1.2%) | 0.00 | 98 |
2021-12-01 | $371,950 (28.8%) | $397,007 (2.9%) | 0.00 | 85 |
2022-01-01 | $385,000 (28.4%) | $460,368 (20.3%) | 0.00 | 71 |
2022-02-01 | $402,725 (24.3%) | $469,367 (16.7%) | 0.00 | 83 |
2022-03-01 | $392,500 (36.8%) | $445,117 (21.3%) | 0.00 | 89 |
2022-04-01 | $369,000 (22.2%) | $447,970 (20.2%) | 0.00 | 96 |
2022-05-01 | $371,150 (23.8%) | $441,490 (18.8%) | 0.00 | 103 |
2022-06-01 | $368,225 (20.7%) | $431,828 (18.7%) | 0.00 | 123 |
2022-07-01 | $369,950 (20.5%) | $433,539 (18.2%) | 0.00 | 168 |
2022-08-01 | $351,200 (13.3%) | $423,978 (19.0%) | 0.00 | 166 |
2022-09-01 | $347,250 (5.3%) | $446,214 (24.6%) | 0.00 | 145 |
2022-10-01 | $345,000 (0.7%) | $441,049 (18.3%) | 0.00 | 161 |
2022-11-01 | $347,500 (-1.1%) | $437,367 (15.4%) | 0.00 | 145 |
2022-12-01 | $350,000 (-5.9%) | $433,599 (9.2%) | 0.00 | 136 |
2023-01-01 | $384,950 (0.0%) | $469,412 (2.0%) | 0.00 | 117 |
2023-02-01 | $434,900 (8.0%) | $499,840 (6.5%) | 0.00 | 107 |
2023-03-01 | $442,450 (12.7%) | $520,053 (16.8%) | 0.00 | 108 |
2023-04-01 | $429,900 (16.5%) | $518,398 (15.7%) | 0.00 | 123 |
2023-05-01 | $406,575 (9.5%) | $486,391 (10.2%) | 0.00 | 128 |
2023-06-01 | $399,913 (8.6%) | $479,633 (11.1%) | 0.00 | 132 |
2023-07-01 | $407,450 (10.1%) | $487,183 (12.4%) | 0.00 | 152 |
2023-08-01 | $399,882 (13.9%) | $477,400 (12.6%) | 0.00 | 142 |
2023-09-01 | $405,000 (16.6%) | $464,863 (4.2%) | 0.00 | 174 |
2023-10-01 | $399,900 (15.9%) | $461,403 (4.6%) | 0.00 | 177 |
2023-11-01 | $384,925 (10.8%) | $458,921 (4.9%) | 0.00 | 177 |
2023-12-01 | $374,900 (7.1%) | $458,257 (5.7%) | 0.00 | 172 |
2024-01-01 | $372,200 (-3.3%) | $455,019 (-3.1%) | 0.00 | 141 |
2024-02-01 | $384,450 (-11.6%) | $457,580 (-8.5%) | 0.00 | 120 |
2024-03-01 | $359,900 (-18.7%) | $457,075 (-12.1%) | 0.00 | 139 |
2024-04-01 | $361,375 (-15.9%) | $456,096 (-12.0%) | 0.00 | 134 |
2024-05-01 | $384,000 (-5.6%) | $476,672 (-2.0%) | 0.00 | 146 |
2024-06-01 | $349,900 (-12.5%) | $457,659 (-4.6%) | 0.00 | 181 |
2024-07-01 | $356,863 (-12.4%) | $454,492 (-6.7%) | 0.00 | 204 |
2024-08-01 | $349,900 (-12.5%) | $430,329 (-9.9%) | 0.00 | 206 |
2024-09-01 | $350,000 (-13.6%) | $454,454 (-2.2%) | 0.00 | 207 |
2024-10-01 | $352,500 (-11.9%) | $471,436 (2.2%) | 0.00 | 217 |
Lawrence's median listing price comes in at 0% of the national average.
Lawrence's average listing price for 2024-10-01 was $471,436, a difference of $10,033 (2.2%) versus the prior year and $16,982 versus the prior month.
For the 2024-10-01 period, Lawrence had 217 MLS listings, a difference of 10 listings (5%) versus the prior month and 40 listings (23%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Lawrence (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,170 sqft |
2018-02-01 | 0 days | 2,263 sqft |
2018-03-01 | 0 days | 2,467 sqft |
2018-04-01 | 0 days | 2,459 sqft |
2018-05-01 | 0 days | 2,459 sqft |
2018-06-01 | 0 days | 2,467 sqft |
2018-07-01 | 0 days | 2,400 sqft |
2018-08-01 | 0 days | 2,183 sqft |
2018-09-01 | 0 days | 2,165 sqft |
2018-10-01 | 0 days | 2,153 sqft |
2018-11-01 | 0 days | 2,138 sqft |
2018-12-01 | 0 days | 2,225 sqft |
2019-01-01 | 0 days | 2,301 sqft |
2019-02-01 | 0 days | 2,278 sqft |
2019-03-01 | 0 days | 2,305 sqft |
2019-04-01 | 0 days | 2,337 sqft |
2019-05-01 | 0 days | 2,470 sqft |
2019-06-01 | 0 days | 2,390 sqft |
2019-07-01 | 0 days | 2,285 sqft |
2019-08-01 | 0 days | 2,284 sqft |
2019-09-01 | 0 days | 2,309 sqft |
2019-10-01 | 0 days | 2,326 sqft |
2019-11-01 | 0 days | 2,328 sqft |
2019-12-01 | 0 days | 2,249 sqft |
2020-01-01 | 0 days | 2,251 sqft |
2020-02-01 | 0 days | 2,255 sqft |
2020-03-01 | 0 days | 2,296 sqft |
2020-04-01 | 0 days | 2,298 sqft |
2020-05-01 | 0 days | 2,350 sqft |
2020-06-01 | 0 days | 2,274 sqft |
2020-07-01 | 0 days | 2,292 sqft |
2020-08-01 | 0 days | 2,123 sqft |
2020-09-01 | 0 days | 1,975 sqft |
2020-10-01 | 0 days | 2,046 sqft |
2020-11-01 | 0 days | 1,998 sqft |
2020-12-01 | 0 days | 1,964 sqft |
2021-01-01 | 0 days | 1,864 sqft |
2021-02-01 | 0 days | 1,885 sqft |
2021-03-01 | 0 days | 1,842 sqft |
2021-04-01 | 0 days | 1,990 sqft |
2021-05-01 | 0 days | 1,965 sqft |
2021-06-01 | 0 days | 1,873 sqft |
2021-07-01 | 0 days | 1,975 sqft |
2021-08-01 | 0 days | 1,873 sqft |
2021-09-01 | 0 days | 1,905 sqft |
2021-10-01 | 0 days | 1,915 sqft |
2021-11-01 | 0 days | 1,903 sqft |
2021-12-01 | 0 days | 2,022 sqft |
2022-01-01 | 0 days | 2,016 sqft |
2022-02-01 | 0 days | 2,072 sqft |
2022-03-01 | 0 days | 1,964 sqft |
2022-04-01 | 0 days | 1,920 sqft |
2022-05-01 | 0 days | 1,939 sqft |
2022-06-01 | 0 days | 2,001 sqft |
2022-07-01 | 0 days | 2,105 sqft |
2022-08-01 | 0 days | 2,061 sqft |
2022-09-01 | 0 days | 2,033 sqft |
2022-10-01 | 0 days | 2,040 sqft |
2022-11-01 | 0 days | 2,029 sqft |
2022-12-01 | 0 days | 2,000 sqft |
2023-01-01 | 0 days | 2,202 sqft |
2023-02-01 | 0 days | 2,226 sqft |
2023-03-01 | 0 days | 2,212 sqft |
2023-04-01 | 0 days | 2,113 sqft |
2023-05-01 | 0 days | 2,268 sqft |
2023-06-01 | 0 days | 2,137 sqft |
2023-07-01 | 0 days | 2,197 sqft |
2023-08-01 | 0 days | 2,234 sqft |
2023-09-01 | 0 days | 2,197 sqft |
2023-10-01 | 0 days | 2,155 sqft |
2023-11-01 | 0 days | 2,037 sqft |
2023-12-01 | 0 days | 2,008 sqft |
2024-01-01 | 0 days | 1,788 sqft |
2024-02-01 | 0 days | 1,808 sqft |
2024-03-01 | 0 days | 1,808 sqft |
2024-04-01 | 0 days | 1,888 sqft |
2024-05-01 | 0 days | 1,948 sqft |
2024-06-01 | 0 days | 1,781 sqft |
2024-07-01 | 0 days | 1,782 sqft |
2024-08-01 | 0 days | 1,774 sqft |
2024-09-01 | 0 days | 1,788 sqft |
2024-10-01 | 0 days | 1,929 sqft |
Lawrence's median square footage for active listings during the 2024-10-01 period was 1,929 sqft. One year prior, the average listing was 2,155 sqft.