Mansfield FHA Loan Rates, Closing Costs & Stats
MANSFIELD, OH
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 61 lenders originated 342 FHA loans during 2023. The total origination value was $54,760,000, with an average FHA loan value of $160,117.
Mansfield FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Mansfield
averaged
0.23%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Mansfield's average FHA mortgage closing costs are $6,186.
The average rate for the prior week (2024-11-22) was
6.72% and
one month ago for the week of 2024-10-25, the
average rate was 6.2%.
The average rate one year ago was 7.39%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.07%.
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.
The top Mansfield FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
55 FHA loans originated. Their average total fees are
$8,403, which is $829
higher than the next largest lender,
CROSSCOUNTRY MORTGAGE, LLC.
The lowest fee Mansfield FHA lenders (with over 10 loans originated) are
LOANDEPOT.COM, LLC ($7,296), UNION HOME MORTGAGE CORP. ($7,321), CROSSCOUNTRY MORTGAGE, LLC ($7,574), QUICKEN LOANS, LLC ($8,403) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,410).
The lowest rate Mansfield FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.56%), LOANDEPOT.COM, LLC (6.80%), UNION HOME MORTGAGE CORP. (7.06%), CROSSCOUNTRY MORTGAGE, LLC (7.19%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (7.28%).
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. LouisDate | 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 | $126,000 (9.6%) | $172,809 (4.2%) | 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%) | $154,501 (-0.9%) | 0.00 | 172 |
2020-02-01 | $104,950 (-2.3%) | $164,162 (4.3%) | 0.00 | 148 |
2020-03-01 | $102,450 (-6.8%) | $166,715 (2.7%) | 0.00 | 144 |
2020-04-01 | $109,850 (2.4%) | $178,233 (8.6%) | 0.00 | 134 |
2020-05-01 | $127,400 (10.9%) | $182,627 (10.6%) | 0.00 | 134 |
2020-06-01 | $153,075 (25.7%) | $214,307 (27.4%) | 0.00 | 126 |
2020-07-01 | $149,600 (18.7%) | $223,579 (29.4%) | 0.00 | 111 |
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 (3.7%) | 0.00 | 107 |
2021-02-01 | $106,425 (1.4%) | $145,751 (-11.2%) | 0.00 | 88 |
2021-03-01 | $114,675 (11.9%) | $151,062 (-9.4%) | 0.00 | 84 |
2021-04-01 | $139,900 (27.4%) | $187,800 (5.4%) | 0.00 | 71 |
2021-05-01 | $149,900 (17.7%) | $200,331 (9.7%) | 0.00 | 78 |
2021-06-01 | $149,450 (-2.4%) | $198,398 (-7.4%) | 0.00 | 99 |
2021-07-01 | $159,000 (6.3%) | $205,586 (-8.1%) | 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%) | $195,396 (17.8%) | 0.00 | 182 |
2022-12-01 | $134,950 (22.7%) | $197,775 (23.5%) | 0.00 | 146 |
2023-01-01 | $151,800 (38.0%) | $230,838 (42.9%) | 0.00 | 98 |
2023-02-01 | $149,900 (36.3%) | $226,935 (39.3%) | 0.00 | 84 |
2023-03-01 | $159,900 (42.1%) | $231,436 (21.1%) | 0.00 | 70 |
2023-04-01 | $172,450 (27.8%) | $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 | 135 |
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 (44.8%) | 0.00 | 126 |
2023-12-01 | $199,900 (48.1%) | $272,052 (37.6%) | 0.00 | 125 |
2024-01-01 | $187,000 (23.2%) | $259,037 (12.2%) | 0.00 | 116 |
2024-02-01 | $224,975 (50.1%) | $290,694 (28.1%) | 0.00 | 104 |
2024-03-01 | $220,000 (37.6%) | $295,674 (27.8%) | 0.00 | 86 |
2024-04-01 | $218,650 (26.8%) | $284,699 (-3.9%) | 0.00 | 107 |
2024-05-01 | $229,500 (34.1%) | $302,129 (27.8%) | 0.00 | 128 |
2024-06-01 | $230,000 (37.3%) | $306,882 (32.7%) | 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 |
Mansfield's median listing price comes in at 0% of the national average.
Mansfield's average listing price for 2024-10-01 was $277,716, a difference of $13,798 (5.2%) versus the prior year and $-14,107 versus the prior month.
For the 2024-10-01 period, Mansfield had 198 MLS listings, a difference of 8 listings (4%) versus the prior month and 57 listings (40%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Mansfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 | 1,504 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 | 1,574 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 | 1,468 sqft |
2020-03-01 | 0 days | 1,421 sqft |
2020-04-01 | 0 days | 1,486 sqft |
2020-05-01 | 0 days | 1,525 sqft |
2020-06-01 | 0 days | 1,629 sqft |
2020-07-01 | 0 days | 1,703 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 | 1,385 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 | 1,490 sqft |
2023-01-01 | 0 days | 1,538 sqft |
2023-02-01 | 0 days | 1,458 sqft |
2023-03-01 | 0 days | 1,441 sqft |
2023-04-01 | 0 days | 1,449 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 | 1,529 sqft |
2024-05-01 | 0 days | 1,620 sqft |
2024-06-01 | 0 days | 1,601 sqft |
2024-07-01 | 0 days | 1,588 sqft |
2024-08-01 | 0 days | 1,603 sqft |
2024-09-01 | 0 days | 1,584 sqft |
2024-10-01 | 0 days | 1,549 sqft |
Mansfield's median square footage for active listings during the 2024-10-01 period was 1,549 sqft. One year prior, the average listing was 1,538 sqft.