Mansfield FHA Loan Rates, Closing Costs & Stats

MANSFIELD, OH

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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.

    Mansfield's 63 lenders originated 322 FHA loans during 2024. The total origination value was $55,360,000, with an average FHA loan value of $171,925.

    Mansfield FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Mansfield averaged 0.31% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Mansfield's average FHA mortgage closing costs are $6,502.

    The average rate for the prior week (2025-06-27) was 6.79% and one month ago for the week of 2025-05-30, the average rate was 6.77%.

    The average rate one year ago was 6.89%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.38%.

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

    Mansfield 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 Mansfield level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    CROSSCOUNTRY MORTGAGE, LLC 50 6.71% $9,290
    QUICKEN LOANS, LLC 48 6.37% $9,892
    LOANDEPOT.COM, LLC 31 6.84% $8,220
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 17 7.15% $8,452
    UNITED WHOLESALE MORTGAGE, LLC 12 6.18% $11,911
    UNION HOME MORTGAGE CORP. 11 6.93% $8,956
    T2 FINANCIAL LLC 7 6.80% $8,557
    FREEDOM MORTGAGE CORPORATION 7 6.30% $13,557
    AMERISAVE MORTGAGE CORPORATION 5 6.23% $11,952
    BROKER SOLUTIONS, INC. 4 6.50% $9,520
    PENNYMAC LOAN SERVICES, LLC 4 6.56% $7,248
    LIBERTY HOME MORTGAGE CORPORATION 4 7.28% $6,676
    The Huntington National Bank 4 7.22% $6,615
    MUTUAL OF OMAHA MORTGAGE, INC. 4 7.00% $11,581
    NEWREZ LLC 3 6.25% $10,747
    PLAZA HOME MORTGAGE, INC. 3 6.71% $10,055
    GUARANTEED RATE, INC. 2 6.65% $5,915
    VILLAGE CAPITAL MORTGAGE 2 6.25% $3,907
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.50% $5,352
    AMERICAN FINANCING CORPORATION 2 5.87% $7,914
    ALLIED MORTGAGE GROUP, INC. 2 6.88% $6,247
    NFM, INC. 2 6.63% $8,033
    RUOFF MORTGAGE COMPANY, INC. 2 6.94% $5,353
    AmeriHome Mortgage Company, LLC 2 6.88% $3,814
    Nations Lending Corporation 2 6.38% $7,371
    Northpointe Bank 2 6.00% $9,144
    Prosperity Home Mortgage, LLC 1 6.50% $10,498
    RAPID MORTGAGE COMPANY 1 7.00% $5,455
    ROYAL UNITED MORTGAGE LLC 1 7.25% $6,238
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.13% $6,686
    STOCKTON MORTGAGE CORPORATION 1 6.63% $6,671
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.38% $6,784
    THE EQUITABLE MORTGAGE CORPORATION 1 6.00% $6,697
    The Union Bank Company 1 6.75% $8,779
    TOP FLITE FINANCIAL, INC. 1 7.13% $6,688
    TOWNE MORTGAGE COMPANY 1 7.25% $20,165
    U.S. Bank 1 6.50% $9,964
    ZILLOW HOME LOANS, LLC 1 5.75% $11,119
    AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $15,136
    Barrington Bank & Trust Company, N.A. 1 6.75% $7,339
    CANOPY MORTGAGE, LLC 1 5.63% $9,432
    Carrington Mortgage Services, LLC 1 7.38% $8,006
    Citizens Bank 1 6.75% $10,624
    Civista Bank 1 6.13% $4,942
    Cornerstone First Mortgage, Inc 1 6.00% $21,212
    DAS Acquisition Company, LLC 1 7.13% $8,389
    ENDEAVOR CAPITAL, LLC. 1 6.25% $8,288
    Equity Prime Mortgage LLC 1 7.75% $9,740
    FIRST COLONY MORTGAGE CORPORATION 1 6.13% $8,035
    FIRST COMMUNITY MORTGAGE, INC. 1 7.00% $9,133
    Flagstar Bank, FSB 1 7.66% $4,807
    HOMESIDE FINANCIAL, LLC 1 6.25% $9,883
    Hometown Equity Mortgage, LLC 1 7.13% $7,153
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 7.25% $10,373
    JPMorgan Chase Bank 1 7.75% $4,094
    J. VIRGIL, INC. 1 7.13% $7,635
    KeyBank 1 5.88% $5,872
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $5,699
    MID AMERICA MORTGAGE, INC. 1 7.25% $7,243
    Mortgage Research Center, LLC 1 6.25% $4,107
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $3,545
    NATIONS RELIABLE LENDING, LLC 1 7.50% $5,543
    POLARIS HOME FUNDING CORP. 1 7.00% $7,333

    The top Mansfield FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 50 FHA loans originated. Their average total fees are $9,290, which is $602 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Mansfield FHA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC ($8,220), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,452), UNION HOME MORTGAGE CORP. ($8,956), CROSSCOUNTRY MORTGAGE, LLC ($9,290) and QUICKEN LOANS, LLC ($9,892).

    The lowest rate Mansfield FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.18%), QUICKEN LOANS, LLC (6.37%), CROSSCOUNTRY MORTGAGE, LLC (6.71%), LOANDEPOT.COM, LLC (6.84%) and UNION HOME MORTGAGE CORP. (6.93%).

    Mansfield FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    MANSFIELD, OH RICHLAND 2022 $420,680 $538,650 $651,050 $809,150
    MANSFIELD, OH RICHLAND 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Mansfield (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 $96,975 (14.5%) $139,725 (18.6%) 0.00 260
    2018-02-01 $95,400 (8.0%) $137,484 (9.1%) 0.00 258
    2018-03-01 $99,450 (6.5%) $136,017 (5.9%) 0.00 215
    2018-04-01 $103,538 (9.1%) $147,323 (13.3%) 0.00 207
    2018-05-01 $124,925 (25.6%) $165,070 (18.3%) 0.00 233
    2018-06-01 $124,900 (25.0%) $160,652 (10.1%) 0.00 257
    2018-07-01 $114,950 (13.4%) $165,912 (14.9%) 0.00 266
    2018-08-01 $119,900 (16.8%) $167,061 (16.4%) 0.00 292
    2018-09-01 $119,900 (9.0%) $166,153 (12.0%) 0.00 283
    2018-10-01 $124,950 (15.6%) $167,496 (17.5%) 0.00 317
    2018-11-01 $116,550 (14.4%) $160,940 (13.3%) 0.00 304
    2018-12-01 $110,000 (11.4%) $155,585 (11.6%) 0.00 275
    2019-01-01 $109,900 (13.3%) $155,852 (11.5%) 0.00 232
    2019-02-01 $107,450 (12.6%) $157,379 (14.5%) 0.00 202
    2019-03-01 $109,900 (10.5%) $162,323 (19.3%) 0.00 190
    2019-04-01 $107,310 (3.6%) $164,063 (11.4%) 0.00 192
    2019-05-01 $114,925 (-8.0%) $165,124 (0.0%) 0.00 203
    2019-06-01 $121,750 (-2.5%) $168,246 (4.7%) 0.00 216
    2019-07-01 $125,350 (9.1%) $172,671 (4.1%) 0.00 238
    2019-08-01 $127,173 (6.1%) $172,890 (3.5%) 0.00 257
    2019-09-01 $123,082 (2.7%) $168,172 (1.2%) 0.00 255
    2019-10-01 $124,405 (-0.4%) $165,315 (-1.3%) 0.00 251
    2019-11-01 $122,500 (5.1%) $163,226 (1.4%) 0.00 223
    2019-12-01 $119,500 (8.6%) $159,420 (2.5%) 0.00 197
    2020-01-01 $109,900 (0.0%) $154,608 (-0.8%) 0.00 172
    2020-02-01 $104,950 (-2.3%) $164,287 (4.4%) 0.00 149
    2020-03-01 $102,450 (-6.8%) $166,832 (2.8%) 0.00 144
    2020-04-01 $111,475 (3.9%) $180,569 (10.1%) 0.00 134
    2020-05-01 $127,400 (10.9%) $183,757 (11.3%) 0.00 133
    2020-06-01 $153,725 (26.3%) $215,656 (28.2%) 0.00 125
    2020-07-01 $149,700 (19.4%) $225,094 (30.4%) 0.00 110
    2020-08-01 $140,000 (10.1%) $223,058 (29.0%) 0.00 100
    2020-09-01 $114,900 (-6.7%) $186,978 (11.2%) 0.00 129
    2020-10-01 $99,400 (-20.1%) $152,973 (-7.5%) 0.00 163
    2020-11-01 $99,150 (-19.1%) $147,235 (-9.8%) 0.00 162
    2020-12-01 $89,925 (-24.8%) $135,570 (-15.0%) 0.00 147
    2021-01-01 $122,000 (11.0%) $160,142 (3.6%) 0.00 107
    2021-02-01 $106,425 (1.4%) $145,751 (-11.3%) 0.00 88
    2021-03-01 $114,675 (11.9%) $151,062 (-9.5%) 0.00 84
    2021-04-01 $139,900 (25.5%) $187,800 (4.0%) 0.00 71
    2021-05-01 $149,900 (17.7%) $200,331 (9.0%) 0.00 78
    2021-06-01 $149,450 (-2.8%) $198,398 (-8.0%) 0.00 99
    2021-07-01 $159,000 (6.2%) $205,586 (-8.7%) 0.00 117
    2021-08-01 $146,600 (4.7%) $223,912 (0.4%) 0.00 129
    2021-09-01 $148,675 (29.4%) $224,448 (20.0%) 0.00 132
    2021-10-01 $142,450 (43.3%) $208,208 (36.1%) 0.00 141
    2021-11-01 $110,000 (10.9%) $165,935 (12.7%) 0.00 225
    2021-12-01 $110,000 (22.3%) $160,119 (18.1%) 0.00 203
    2022-01-01 $110,000 (-9.8%) $161,559 (0.9%) 0.00 174
    2022-02-01 $110,000 (3.4%) $162,931 (11.8%) 0.00 163
    2022-03-01 $112,500 (-1.9%) $191,050 (26.5%) 0.00 74
    2022-04-01 $134,900 (-3.6%) $243,629 (29.7%) 0.00 90
    2022-05-01 $154,950 (3.4%) $238,063 (18.8%) 0.00 98
    2022-06-01 $146,667 (-1.9%) $214,486 (8.1%) 0.00 115
    2022-07-01 $194,400 (22.3%) $236,013 (14.8%) 0.00 147
    2022-08-01 $189,450 (29.2%) $241,382 (7.8%) 0.00 141
    2022-09-01 $162,450 (9.3%) $213,788 (-4.8%) 0.00 167
    2022-10-01 $148,700 (4.4%) $190,369 (-8.6%) 0.00 174
    2022-11-01 $143,400 (30.4%) $196,466 (18.4%) 0.00 183
    2022-12-01 $139,000 (26.4%) $201,644 (25.9%) 0.00 148
    2023-01-01 $153,650 (39.7%) $236,387 (46.3%) 0.00 100
    2023-02-01 $152,450 (38.6%) $232,927 (43.0%) 0.00 86
    2023-03-01 $165,625 (47.2%) $243,521 (27.5%) 0.00 73
    2023-04-01 $174,950 (29.7%) $296,305 (21.6%) 0.00 58
    2023-05-01 $171,150 (10.5%) $236,351 (-0.7%) 0.00 79
    2023-06-01 $167,500 (14.2%) $231,355 (7.9%) 0.00 119
    2023-07-01 $153,950 (-20.8%) $228,717 (-3.1%) 0.00 136
    2023-08-01 $159,675 (-15.7%) $243,609 (0.9%) 0.00 140
    2023-09-01 $165,000 (1.6%) $234,920 (9.9%) 0.00 163
    2023-10-01 $179,900 (21.0%) $263,918 (38.6%) 0.00 141
    2023-11-01 $191,125 (33.3%) $283,002 (44.1%) 0.00 126
    2023-12-01 $199,900 (43.8%) $272,052 (34.9%) 0.00 125
    2024-01-01 $187,000 (21.7%) $259,037 (9.6%) 0.00 116
    2024-02-01 $224,975 (47.6%) $290,694 (24.8%) 0.00 104
    2024-03-01 $220,000 (32.8%) $295,674 (21.4%) 0.00 86
    2024-04-01 $218,650 (25.0%) $284,699 (-3.9%) 0.00 107
    2024-05-01 $232,175 (35.7%) $302,307 (27.9%) 0.00 128
    2024-06-01 $230,000 (37.3%) $304,080 (31.4%) 0.00 143
    2024-07-01 $236,350 (53.5%) $288,030 (25.9%) 0.00 186
    2024-08-01 $239,900 (50.2%) $295,798 (21.4%) 0.00 191
    2024-09-01 $248,700 (50.7%) $291,823 (24.2%) 0.00 190
    2024-10-01 $224,900 (25.0%) $277,716 (5.2%) 0.00 198
    2024-11-01 $223,900 (17.2%) $280,002 (-1.1%) 0.00 194
    2024-12-01 $226,450 (13.3%) $298,284 (9.6%) 0.00 162
    2025-01-01 $219,900 (17.6%) $266,984 (3.1%) 0.00 158
    2025-02-01 $211,950 (-5.8%) $272,859 (-6.1%) 0.00 152
    2025-03-01 $204,900 (-6.9%) $269,098 (-9.0%) 0.00 147
    2025-04-01 $227,425 (4.0%) $269,534 (-5.3%) 0.00 142
    2025-05-01 $229,950 (-1.0%) $289,268 (-4.3%) 0.00 154
    Mansfield's median listing price for 2025-05-01 was $229,950, a difference of $-2,225 (-1.0%) versus the prior year and $2,525 versus the prior month.

    Mansfield's median listing price comes in at 0% of the national average.

    Mansfield's average listing price for 2025-05-01 was $289,268, a difference of $-13,039 (-4.3%) versus the prior year and $19,734 versus the prior month.

    For the 2025-05-01 period, Mansfield had 154 MLS listings, a difference of 12 listings (8%) versus the prior month and 26 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Mansfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,455 sqft
    2018-02-01 0 days 1,457 sqft
    2018-03-01 0 days 1,468 sqft
    2018-04-01 0 days 1,489 sqft
    2018-05-01 0 days 1,540 sqft
    2018-06-01 0 days 1,508 sqft
    2018-07-01 0 days 1,505 sqft
    2018-08-01 0 days 1,523 sqft
    2018-09-01 0 days 1,609 sqft
    2018-10-01 0 days 1,608 sqft
    2018-11-01 0 days 1,547 sqft
    2018-12-01 0 days 1,543 sqft
    2019-01-01 0 days 1,519 sqft
    2019-02-01 0 days 1,488 sqft
    2019-03-01 0 days 1,504 sqft
    2019-04-01 0 days 1,442 sqft
    2019-05-01 0 days 1,456 sqft
    2019-06-01 0 days 1,538 sqft
    2019-07-01 0 days 1,571 sqft
    2019-08-01 0 days 1,605 sqft
    2019-09-01 0 days 1,585 sqft
    2019-10-01 0 days 1,576 sqft
    2019-11-01 0 days 1,538 sqft
    2019-12-01 0 days 1,497 sqft
    2020-01-01 0 days 1,487 sqft
    2020-02-01 0 days 1,469 sqft
    2020-03-01 0 days 1,424 sqft
    2020-04-01 0 days 1,491 sqft
    2020-05-01 0 days 1,524 sqft
    2020-06-01 0 days 1,616 sqft
    2020-07-01 0 days 1,697 sqft
    2020-08-01 0 days 1,512 sqft
    2020-09-01 0 days 1,460 sqft
    2020-10-01 0 days 1,396 sqft
    2020-11-01 0 days 1,472 sqft
    2020-12-01 0 days 1,441 sqft
    2021-01-01 0 days 1,396 sqft
    2021-02-01 0 days 1,329 sqft
    2021-03-01 0 days 1,328 sqft
    2021-04-01 0 days 1,440 sqft
    2021-05-01 0 days 1,463 sqft
    2021-06-01 0 days 1,528 sqft
    2021-07-01 0 days 1,452 sqft
    2021-08-01 0 days 1,582 sqft
    2021-09-01 0 days 1,536 sqft
    2021-10-01 0 days 1,491 sqft
    2021-11-01 0 days 1,411 sqft
    2021-12-01 0 days 1,426 sqft
    2022-01-01 0 days 1,386 sqft
    2022-02-01 0 days 1,394 sqft
    2022-03-01 0 days 1,437 sqft
    2022-04-01 0 days 1,546 sqft
    2022-05-01 0 days 1,586 sqft
    2022-06-01 0 days 1,580 sqft
    2022-07-01 0 days 1,687 sqft
    2022-08-01 0 days 1,586 sqft
    2022-09-01 0 days 1,532 sqft
    2022-10-01 0 days 1,481 sqft
    2022-11-01 0 days 1,460 sqft
    2022-12-01 0 days 1,491 sqft
    2023-01-01 0 days 1,550 sqft
    2023-02-01 0 days 1,477 sqft
    2023-03-01 0 days 1,453 sqft
    2023-04-01 0 days 1,456 sqft
    2023-05-01 0 days 1,494 sqft
    2023-06-01 0 days 1,462 sqft
    2023-07-01 0 days 1,533 sqft
    2023-08-01 0 days 1,483 sqft
    2023-09-01 0 days 1,478 sqft
    2023-10-01 0 days 1,538 sqft
    2023-11-01 0 days 1,504 sqft
    2023-12-01 0 days 1,577 sqft
    2024-01-01 0 days 1,533 sqft
    2024-02-01 0 days 1,557 sqft
    2024-03-01 0 days 1,547 sqft
    2024-04-01 0 days 1,532 sqft
    2024-05-01 0 days 1,623 sqft
    2024-06-01 0 days 1,601 sqft
    2024-07-01 0 days 1,580 sqft
    2024-08-01 0 days 1,603 sqft
    2024-09-01 0 days 1,584 sqft
    2024-10-01 0 days 1,550 sqft
    2024-11-01 0 days 1,552 sqft
    2024-12-01 0 days 1,556 sqft
    2025-01-01 0 days 1,527 sqft
    2025-02-01 0 days 1,507 sqft
    2025-03-01 0 days 1,561 sqft
    2025-04-01 0 days 1,576 sqft
    2025-05-01 0 days 1,584 sqft
    Mansfield's median listing age (time on market) for 2025-05-01 was 0 days.

    Mansfield's median square footage for active listings during the 2025-05-01 period was 1,584 sqft. One year prior, the average listing was 1,623 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).