Lincoln FHA Loans

LINCOLN, NE

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.

Lincoln's 74 lenders originated 945 FHA loans during 2021. The total origination value was $181,125,000, with an average FHA loan value of $191,667.

Lincoln FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Lincoln averaged 5.36% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

The average rate for the prior week (2022-05-06) was 5.19% and one month ago for the week of 2022-04-08, the average rate was 4.56%.

The average rate one year ago was 2.77%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.15%.

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

Lincoln 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 Lincoln level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
GERSHMAN INVESTMENT CORP. 134 3.22% $6,148
QUICKEN LOANS, LLC 111 2.74% $5,930
Lincoln FSB of Nebraska 57 2.69% $5,306
LIBERTY FIRST 43 2.40% $5,476
CHARTER WEST BANK 36 2.80% $5,935
MORIA DEVELOPMENT, INC. 33 3.27% $6,706
FREEDOM MORTGAGE CORPORATION 28 2.94% $3,834
Prosperity Home Mortgage, LLC 28 3.11% $5,420
CALIBER HOME LOANS, INC. 24 2.70% $5,071
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 23 3.30% $6,999
First Bank 22 2.74% $6,548
Union Bank and Trust Company 21 3.02% $5,653
PENNYMAC LOAN SERVICES, LLC 19 3.08% $4,370
VILLAGE CAPITAL & INVESTMENT LLC 19 3.00% $2,415
Regent Financial Group, Inc. 17 2.65% $5,872
United Fidelity Funding Corp. 17 2.81% $5,296
First National Bank of Omaha 15 2.86% $6,010
LAKEVIEW LOAN SERVICING, LLC 13 3.12% $4,276
HOMEBRIDGE FINANCIAL SERVICES, INC. 9 2.50% $4,353
U.S. Bank 9 2.90% $5,102
Mr. Cooper ( Nationstar Mortgage ) 9 3.08% $3,293
NEWREZ LLC 8 2.91% $4,134
HOME POINT FINANCIAL CORPORATION 8 2.89% $4,245
AMCAP MORTGAGE, LTD. 7 3.43% $7,214
Pinnacle Bank 7 2.87% $4,571
Paramount Residential Mortgage Group, Inc. 6 3.50% $7,273
AMERISAVE MORTGAGE CORPORATION 6 3.02% $6,704
UNITED WHOLESALE MORTGAGE, LLC 6 2.66% $7,971
DELMAR FINANCIAL COMPANY 6 2.81% $5,321
West Gate Bank 5 2.38% $5,743
Citizens Bank 5 2.80% $6,391
Chickasaw Community Bank 4 3.00% $6,921
Gateway First Bank 4 2.75% $5,473
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 3.50% $7,918
Plains Commerce Bank 3 2.63% $6,574
Financial Funding Solutions, Inc. 3 2.71% $6,539
Great Western Bank 3 2.79% $5,355
MUTUAL OF OMAHA MORTGAGE, INC. 3 2.71% $6,922
Dundee Bank 2 2.94% $6,976
Carrington Mortgage Services, LLC 2 3.25% $8,181
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.00% $11,275
Northpointe Bank 2 3.25% $9,752
PLAZA HOME MORTGAGE, INC. 2 2.38% $3,992
Mortgage Research Center, LLC 2 3.18% $5,983
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.94% $7,146
GUILD MORTGAGE COMPANY 2 3.19% $6,535
PHH Mortgage Corporation 2 3.63% $3,788
CMG MORTGAGE, INC. 2 3.37% $8,146
LOANDEPOT.COM, LLC 2 2.63% $12,185
First Guaranty Mortgage Corporation 1 3.13% $6,725
PLANET HOME LENDING, LLC 1 2.75% $3,310
POLARIS HOME FUNDING CORP. 1 3.63% $12,811
CROSSCOUNTRY MORTGAGE, LLC 1 3.13% $6,515
Core Bank 1 2.50% $3,469
CENTENNIAL LENDING, LLC 1 3.25% $7,783
SUN WEST MORTGAGE COMPANY, INC. 1 3.25% $4,075
UNITED MORTGAGE CORP. 1 3.25% $9,091
BROKER SOLUTIONS, INC. 1 2.50% $16,134
BETTER MORTGAGE CORPORATION 1 2.38% $5,873
Wells Fargo Bank 1 2.75% $5,152
AMERICAN FINANCIAL RESOURCES, INC. 1 3.63% $12,811
Wyndham Capital Mortgage, Inc. 1 2.88% $4,527
JAMES B. NUTTER & COMPANY 1 3.38% $2,482
KELLER MORTGAGE, LLC 1 2.88% $6,533
GUARANTEED RATE, INC. 1 2.38% $6,868
MID AMERICA MORTGAGE, INC. 1 2.50% $815
FRONTIER FINANCIAL, INC. 1 2.88% $9,750
MOVEMENT MORTGAGE, LLC 1 3.25% $8,042
Flagstar Bank, FSB 1 3.00% $6,888
ZILLOW HOME LOANS, LLC 1 3.13% $7,693
NBKC BANK 1 3.63% $4,323
FIRST STATE MORTGAGE SERVICES, LLC 1 3.00% $5,100
First Mortgage Solutions, LLC 1 3.25% $5,546
First Home Bank 1 3.75% $7,091

The top Lincoln FHA lender as defined by loan originations is GERSHMAN INVESTMENT CORP., with 134 FHA loans originated. Their average total fees are $6,148, which is $218 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Lincoln FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,415), FREEDOM MORTGAGE CORPORATION ($3,834), LAKEVIEW LOAN SERVICING, LLC ($4,276), PENNYMAC LOAN SERVICES, LLC ($4,370) and CALIBER HOME LOANS, INC. ($5,071).

The lowest rate Lincoln FHA lenders (with over 10 loans originated) are LIBERTY FIRST (2.40%), Regent Financial Group, Inc. (2.65%), Lincoln FSB of Nebraska (2.69%), CALIBER HOME LOANS, INC. (2.70%) and QUICKEN LOANS, LLC (2.74%).

Lincoln FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
LINCOLN, NE LANCASTER 2022 $420,680 $538,650 $651,050 $809,150
LINCOLN, NE SEWARD 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Lincoln (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 $281,225 (23.4%) $343,745 (21.4%) 1.04 653
2018-02-01 $299,700 (19.3%) $357,059 (19.6%) 1.08 619
2018-03-01 $319,950 (23.3%) $365,788 (19.8%) 1.11 596
2018-04-01 $324,225 (13.8%) $374,399 (12.3%) 1.09 624
2018-05-01 $315,450 (7.3%) $369,702 (9.9%) 1.05 677
2018-06-01 $304,900 (8.4%) $367,812 (11.3%) 1.02 717
2018-07-01 $299,900 (11.1%) $365,026 (13.7%) 1.00 803
2018-08-01 $289,900 (10.4%) $356,126 (12.2%) 0.97 866
2018-09-01 $285,000 (14.0%) $350,436 (11.0%) 0.95 882
2018-10-01 $275,000 (9.0%) $338,723 (7.5%) 0.92 951
2018-11-01 $268,045 (2.5%) $329,836 (1.5%) 0.90 997
2018-12-01 $270,000 (-1.8%) $329,161 (-0.8%) 0.92 901
2019-01-01 $272,450 (-3.1%) $332,048 (-3.4%) 0.94 808
2019-02-01 $286,325 (-4.5%) $342,460 (-4.1%) 0.96 761
2019-03-01 $299,721 (-6.3%) $341,423 (-6.7%) 0.98 1,092
2019-04-01 $304,340 (-6.1%) $340,108 (-9.2%) 0.96 689
2019-05-01 $312,448 (-1.0%) $351,361 (-5.0%) 0.96 846
2019-06-01 $299,900 (-1.6%) $334,850 (-9.0%) 0.92 800
2019-07-01 $299,900 (0.0%) $332,796 (-8.8%) 0.93 781
2019-08-01 $288,424 (-0.5%) $324,635 (-8.8%) 0.91 838
2019-09-01 $278,419 (-2.3%) $316,747 (-9.6%) 0.88 912
2019-10-01 $279,425 (1.6%) $316,418 (-6.6%) 0.89 925
2019-11-01 $280,000 (4.5%) $316,621 (-4.0%) 0.90 858
2019-12-01 $284,950 (5.5%) $317,743 (-3.5%) 0.95 786
2020-01-01 $298,500 (9.6%) $330,547 (-0.5%) 1.00 679
2020-02-01 $304,900 (6.5%) $338,461 (-1.2%) 0.98 607
2020-03-01 $302,900 (1.1%) $337,120 (-1.3%) 0.95 637
2020-04-01 $306,567 (0.7%) $336,716 (-1.0%) 0.96 699
2020-05-01 $319,000 (2.1%) $357,987 (1.9%) 0.97 668
2020-06-01 $327,000 (9.0%) $368,927 (10.2%) 0.95 543
2020-07-01 $329,450 (9.9%) $375,887 (13.0%) 0.94 505
2020-08-01 $315,000 (9.2%) $365,246 (12.5%) 0.90 476
2020-09-01 $310,668 (11.6%) $366,613 (15.7%) 0.89 460
2020-10-01 $299,999 (7.4%) $366,796 (15.9%) 0.86 452
2020-11-01 $328,900 (17.5%) $382,059 (20.7%) 0.94 470
2020-12-01 $334,268 (17.3%) $376,519 (18.5%) 0.98 450
2021-01-01 $334,950 (12.2%) $370,437 (12.1%) 0.99 394
2021-02-01 $352,450 (15.6%) $384,646 (13.7%) 1.01 360
2021-03-01 $362,998 (19.8%) $389,295 (15.5%) 1.02 373
2021-04-01 $359,900 (17.4%) $395,725 (17.5%) 0.97 367
2021-05-01 $359,900 (12.8%) $428,547 (19.7%) 0.95 370
2021-06-01 $343,450 (5.0%) $415,401 (12.6%) 0.89 399
2021-07-01 $331,000 (0.5%) $399,972 (6.4%) 0.86 419
2021-08-01 $319,950 (1.6%) $386,727 (5.9%) 0.84 422
2021-09-01 $300,000 (-3.4%) $365,318 (-0.4%) 0.79 437
2021-10-01 $315,000 (5.0%) $362,432 (-1.2%) 0.83 489
2021-11-01 $329,900 (0.3%) $384,071 (0.5%) 0.87 496
2021-12-01 $350,000 (4.7%) $398,115 (5.7%) 0.93 426
2022-01-01 $380,285 (13.5%) $420,913 (13.6%) 1.01 385
2022-02-01 $394,273 (11.9%) $430,367 (11.9%) 1.00 369
2022-03-01 $384,500 (5.9%) $431,982 (11.0%) 0.95 346
2022-04-01 $398,000 (10.6%) $445,198 (12.5%) 0.94 372
Lincoln's median listing price for 2022-04-01 was $398,000, a difference of $38,100 (10.6%) versus the prior year and $13,500 versus the prior month.

Lincoln's median listing price comes in at 94% of the national average.

Lincoln's average listing price for 2022-04-01 was $445,198, a difference of $49,473 (12.5%) versus the prior year and $13,216 versus the prior month.

For the 2022-04-01 period, Lincoln had 372 MLS listings, a difference of 26 listings (8%) versus the prior month and 5 listings (1%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Lincoln (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 54 days 1,602 sqft
2018-02-01 54 days 1,624 sqft
2018-03-01 51 days 1,650 sqft
2018-04-01 47 days 1,661 sqft
2018-05-01 40 days 1,653 sqft
2018-06-01 43 days 1,660 sqft
2018-07-01 43 days 1,636 sqft
2018-08-01 44 days 1,596 sqft
2018-09-01 47 days 1,597 sqft
2018-10-01 45 days 1,581 sqft
2018-11-01 44 days 1,568 sqft
2018-12-01 57 days 1,551 sqft
2019-01-01 59 days 1,556 sqft
2019-02-01 52 days 1,567 sqft
2019-03-01 57 days 1,716 sqft
2019-04-01 13 days 2,110 sqft
2019-05-01 31 days 2,404 sqft
2019-06-01 37 days 2,392 sqft
2019-07-01 36 days 2,374 sqft
2019-08-01 36 days 2,296 sqft
2019-09-01 37 days 2,262 sqft
2019-10-01 38 days 2,231 sqft
2019-11-01 46 days 2,248 sqft
2019-12-01 55 days 2,248 sqft
2020-01-01 63 days 2,303 sqft
2020-02-01 60 days 2,384 sqft
2020-03-01 42 days 2,412 sqft
2020-04-01 41 days 2,392 sqft
2020-05-01 50 days 2,446 sqft
2020-06-01 51 days 2,446 sqft
2020-07-01 48 days 2,425 sqft
2020-08-01 43 days 2,290 sqft
2020-09-01 46 days 2,255 sqft
2020-10-01 45 days 2,195 sqft
2020-11-01 45 days 2,230 sqft
2020-12-01 51 days 2,119 sqft
2021-01-01 59 days 2,130 sqft
2021-02-01 56 days 2,198 sqft
2021-03-01 56 days 2,322 sqft
2021-04-01 55 days 2,213 sqft
2021-05-01 51 days 2,213 sqft
2021-06-01 44 days 2,192 sqft
2021-07-01 42 days 2,141 sqft
2021-08-01 40 days 2,109 sqft
2021-09-01 40 days 2,055 sqft
2021-10-01 36 days 2,123 sqft
2021-11-01 42 days 2,123 sqft
2021-12-01 51 days 2,166 sqft
2022-01-01 57 days 2,246 sqft
2022-02-01 44 days 2,243 sqft
2022-03-01 48 days 2,213 sqft
2022-04-01 42 days 2,260 sqft
Lincoln's median listing age (time on market) for 2022-04-01 was 42 days. This is -23% shorter than the same period one year ago.

Lincoln's median square footage for active listings during the 2022-04-01 period was 2,260 sqft. One year prior, the average listing was 2,213 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).