Lynchburg FHA Loan Rates, Closing Costs & Stats

LYNCHBURG, VA

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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.

    Lynchburg's 114 lenders originated 916 FHA loans during 2024. The total origination value was $215,650,000, with an average FHA loan value of $235,426.

    Lynchburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lynchburg averaged 0.17% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Lynchburg's average FHA mortgage closing costs are $7,697.

    The average rate for the prior week (2025-06-27) was 6.75% and one month ago for the week of 2025-05-30, the average rate was 6.93%.

    The average rate one year ago was 7.05%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.03%.

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

    Lynchburg 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 Lynchburg level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 98 6.24% $10,874
    UNITED WHOLESALE MORTGAGE, LLC 61 6.09% $12,648
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 51 6.81% $10,492
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 47 6.73% $10,016
    Alcova Mortgage LLC 44 6.86% $7,133
    NATION ONE MORTGAGE CORPORATION 31 6.63% $9,485
    FREEDOM MORTGAGE CORPORATION 27 6.40% $9,011
    HOMESIDE FINANCIAL, LLC 25 6.83% $10,993
    EMBRACE HOME LOANS, INC. 24 6.78% $9,683
    Integrity Home Mortgage Corp 22 6.79% $9,586
    NVR Mortgage Finance, Inc. 19 6.33% $10,701
    MOVEMENT MORTGAGE, LLC 17 6.54% $8,837
    Atlantic Coast Mortgage, LLC 17 6.48% $10,696
    LOANDEPOT.COM, LLC 14 6.48% $12,907
    NEWREZ LLC 13 6.57% $11,006
    PENNYMAC LOAN SERVICES, LLC 12 5.98% $9,850
    Century Mortgage Company DBA Century Lending Company 12 6.28% $11,090
    Prosperity Home Mortgage, LLC 11 6.31% $10,154
    Renasant Bank 11 6.57% $11,158
    EMM LOANS LLC 11 6.40% $12,478
    Carrington Mortgage Services, LLC 9 6.29% $12,413
    AMERICAN FINANCIAL RESOURCES, INC. 9 6.25% $14,081
    FIRST COMMUNITY MORTGAGE, INC. 9 6.50% $12,383
    CARDINAL FINANCIAL 9 6.51% $11,235
    AMERISAVE MORTGAGE CORPORATION 8 6.41% $12,037
    GUARANTEED RATE, INC. 7 6.40% $9,475
    Truist 7 6.13% $7,389
    FREEDOM FIRST 7 5.95% $8,882
    CROSSCOUNTRY MORTGAGE, LLC 6 6.06% $13,059
    Atlantic Union Bank 6 6.31% $8,178
    First Federal Bank 6 6.33% $9,350
    UNION HOME MORTGAGE CORP. 6 6.21% $13,691
    Flagstar Bank, FSB 6 6.00% $10,600
    SWBC MORTGAGE CORPORATION 5 6.75% $5,473
    PLAZA HOME MORTGAGE, INC. 5 7.28% $9,031
    Virginia Credit Union, Inc. 5 6.38% $9,243
    VILLAGE CAPITAL MORTGAGE 5 6.32% $9,009
    MUTUAL OF OMAHA MORTGAGE, INC. 4 5.97% $11,621
    AMERICAN FINANCIAL NETWORK, INC. 4 6.63% $9,832
    BROKER SOLUTIONS, INC. 4 7.00% $10,899
    C & F Mortgage Corporation 4 7.09% $8,133
    GUILD MORTGAGE COMPANY 3 6.88% $7,795
    LOANPAL, LLC 3 5.74% $11,026
    Equity Prime Mortgage LLC 3 7.33% $9,664
    LAKEVIEW LOAN SERVICING, LLC 3 6.25% $8,543
    Gateway First Bank 3 6.75% $8,936
    Mr. Cooper ( Nationstar Mortgage ) 3 6.38% $14,080
    PLANET HOME LENDING, LLC 3 6.33% $4,909
    MILEND, INC. 3 6.08% $11,896
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.50% $4,610
    First Heritage Mortgage, LLC 2 5.69% $13,069
    FIRST COLONY MORTGAGE CORPORATION 2 6.00% $11,431
    GSF Mortgage Corporation 2 6.87% $11,206
    EVERETT FINANCIAL, INC. 2 6.56% $10,360
    INTERCOASTAL MORTGAGE COMPANY 2 6.00% $10,179
    Keystone Funding, Inc. 2 6.38% $15,521
    MEMBER ADVANTAGE MORTGAGE, LLC 2 6.88% $5,828
    Mortgage Research Center, LLC 2 6.19% $8,013
    Blue Ridge Bank 2 6.19% $13,199
    Plains Commerce Bank 2 6.88% $8,465
    RELIANCE FIRST CAPITAL, LLC 2 6.19% $14,402
    SeaTrust Mortgage Company 2 6.12% $10,734
    SOUTHERN TRUST MORTGAGE, LLC 2 6.81% $9,377
    SUN WEST MORTGAGE COMPANY, INC. 2 6.88% $11,114
    The Federal Savings Bank 2 6.75% $14,340
    TOTAL MORTGAGE SERVICES, LLC 2 6.31% $11,822
    Ameris Bank 2 6.63% $10,572
    American Mortgage & Equity Consultants, Inc. 2 6.31% $11,239
    US MORTGAGE CORPORATION 2 6.38% $12,081
    AMERICAN FINANCING CORPORATION 2 5.06% $20,339
    Waterstone Mortgage Corporation 2 6.44% $10,157
    ZILLOW HOME LOANS, LLC 2 7.00% $9,744
    City Lending Inc. 1 6.75% $5,605
    NATIONS DIRECT MORTGAGE, LLC 1 7.25% $14,391
    Nations Lending Corporation 1 6.63% $11,512
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $13,202
    NETWORK CAPITAL FUNDING CORPORATION 1 7.25% $14,285
    CAPITAL CENTER, L.L.C. 1 5.63% $13,827
    NFM, INC. 1 6.63% $10,995
    CALCON MUTUAL MORTGAGE LLC 1 6.63% $21,201
    OCMBC, INC. 1 7.25% $14,867
    THE MORTGAGE FIRM, INC. 1 6.99% $13,694
    PHH Mortgage Corporation 1 6.88% $9,228
    Tidewater Home Funding, LLC 1 7.25% $5,514
    First National Bank of Pennsylvania 1 5.63% $9,069
    BETTER MORTGAGE CORPORATION 1 4.75% $10,189
    BECKAM FUNDING CORP. 1 8.25% $10,416
    Barrington Bank & Trust Company, N.A. 1 5.75% $20,445
    TIDEWATER MORTGAGE SERVICES, INC. 1 6.75% $13,229
    Assurance Financial Group, L.L.C. 1 6.63% $6,902
    Residential Mortgage Solutions, Inc. 1 6.25% $10,090
    Advisors Mortgage Group, L.L.C. 1 6.63% $9,526
    UNIVERSAL MORTGAGE & FINANCE, INC. 1 7.13% $158,706
    STOCKTON MORTGAGE CORPORATION 1 5.75% $17,246
    AmeriHome Mortgage Company, LLC 1 6.99% $6,630
    Arvest Bank 1 6.50% $6,899
    INTELLILOAN, INC. 1 5.75% $5,023
    T2 FINANCIAL LLC 1 6.63% $14,349
    Ixonia Bank 1 6.50% $14,368
    United Bank 1 6.63% $5,963
    Lakeview Community Capital, LLC 1 6.75% $10,510
    HOMESPIRE MORTGAGE CORPORATION 1 6.38% $13,362
    Fifth Third Bank 1 7.00% $13,998
    FIRST SAVINGS MORTGAGE CORPORATION 1 5.25% $14,408
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 7.00% $11,618
    The Fidelity Bank 1 6.25% $8,238
    MID AMERICA MORTGAGE, INC. 1 6.63% $8,690
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.00% $18,286
    MORIA DEVELOPMENT, INC. 1 6.50% $7,510
    MORTGAGE EQUITY PARTNERS LLC 1 6.75% $10,690
    The Loan Store, Inc. 1 6.13% $13,073
    Encompass Lending Group, LP 1 6.75% $10,034
    GENEVA FINANCIAL, LLC 1 5.75% $11,925
    Acre Mortgage and Financial Inc 1 5.75% $22,168

    The top Lynchburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 98 FHA loans originated. Their average total fees are $10,874, which is $1,774 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Lynchburg FHA lenders (with over 10 loans originated) are Alcova Mortgage LLC ($7,133), MOVEMENT MORTGAGE, LLC ($8,837), FREEDOM MORTGAGE CORPORATION ($9,011), NATION ONE MORTGAGE CORPORATION ($9,485) and Integrity Home Mortgage Corp ($9,586).

    The lowest rate Lynchburg FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.98%), UNITED WHOLESALE MORTGAGE, LLC (6.09%), QUICKEN LOANS, LLC (6.24%), Century Mortgage Company DBA Century Lending Company (6.28%) and Prosperity Home Mortgage, LLC (6.31%).

    Lynchburg FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LYNCHBURG, VA AMHERST 2022 $420,680 $538,650 $651,050 $809,150
    LYNCHBURG, VA APPOMATTOX 2022 $420,680 $538,650 $651,050 $809,150
    LYNCHBURG, VA BEDFORD 2022 $420,680 $538,650 $651,050 $809,150
    LYNCHBURG, VA CAMPBELL 2022 $420,680 $538,650 $651,050 $809,150
    LYNCHBURG, VA LYNCHBURG CITY 2022 $420,680 $538,650 $651,050 $809,150
    LYNCHBURG, VA AMHERST 2023 $472,030 $604,400 $730,525 $907,900
    LYNCHBURG, VA APPOMATTOX 2023 $472,030 $604,400 $730,525 $907,900
    LYNCHBURG, VA BEDFORD 2023 $472,030 $604,400 $730,525 $907,900
    LYNCHBURG, VA CAMPBELL 2023 $472,030 $604,400 $730,525 $907,900
    LYNCHBURG, VA LYNCHBURG CITY 2023 $472,030 $604,400 $730,525 $907,900

    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).