Marshall FHA Loan Rates, Closing Costs & Stats

Marshall, MO

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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.

    Marshall's 24 lenders originated 53 FHA loans during 2023. The total origination value was $7,975,000, with an average FHA loan value of $150,472.

    Marshall FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Marshall averaged 0.02% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Marshall's average FHA mortgage closing costs are $5,016.

    The average rate for the prior week (2024-11-08) was 6.43% and one month ago for the week of 2024-10-11, the average rate was 6.13%.

    The average rate one year ago was 7.18%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.2%.

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

    Marshall 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 Marshall level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FLAT BRANCH MORTGAGE, INC. 16 6.80% $5,402
    Midwest Mortgage Associates Corporation 6 6.75% $3,527
    QUICKEN LOANS, LLC 6 6.37% $8,840
    AMERISAVE MORTGAGE CORPORATION 2 5.88% $9,260
    LOANDEPOT.COM, LLC 2 6.31% $12,594
    COMMUNITY MORTGAGE, LLC 1 6.50% $7,241
    DAS Acquisition Company, LLC 1 7.75% $7,330
    ENDEAVOR CAPITAL, LLC. 1 6.62% $7,210
    Equity Bank 1 6.25% $5,067
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.13% $5,785
    Flagstar Bank, FSB 1 7.13% $3,760
    LEADERONE FINANCIAL CORPORATION 1 6.63% $5,417
    MOVEMENT MORTGAGE, LLC 1 6.38% $7,242
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $6,976
    NEWREZ LLC 1 6.25% $5,067
    PENNYMAC LOAN SERVICES, LLC 1 5.63% $5,818
    ROYAL UNITED MORTGAGE LLC 1 7.13% $9,858
    UNITED 1 6.25% $6,856
    ACADEMY MORTGAGE CORPORATION 1 6.25% $7,480
    UNITED WHOLESALE MORTGAGE, LLC 1 6.57% $7,199
    American Mortgage & Equity Consultants, Inc. 1 6.00% $4,697
    Barrington Bank & Trust Company, N.A. 1 5.75% $5,612
    BROKER SOLUTIONS, INC. 1 6.25% $9,309
    Carrington Mortgage Services, LLC 1 7.13% $7,704

    The top Marshall FHA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 16 FHA loans originated. Their average total fees are $5,402, which is $1,875 higher than the next largest lender, Midwest Mortgage Associates Corporation.

    The lowest fee Marshall FHA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. ($5,402), .

    The lowest rate Marshall FHA lenders (with over 10 loans originated) are FLAT BRANCH MORTGAGE, INC. (6.80%), .

    Marshall FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Marshall (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 $83,900 (-9.9%) $108,483 (-3.6%) 0.00 109
    2018-02-01 $86,050 (-12.6%) $110,833 (-4.7%) 0.00 117
    2018-03-01 $96,000 (-5.1%) $115,446 (-4.9%) 0.00 109
    2018-04-01 $105,575 (-1.8%) $120,340 (-4.0%) 0.00 110
    2018-05-01 $118,375 (15.8%) $126,803 (3.7%) 0.00 113
    2018-06-01 $123,200 (13.3%) $130,967 (8.2%) 0.00 115
    2018-07-01 $129,125 (20.8%) $133,785 (9.2%) 0.00 103
    2018-08-01 $121,950 (13.3%) $130,069 (5.7%) 0.00 111
    2018-09-01 $129,500 (21.1%) $136,501 (12.3%) 0.00 116
    2018-10-01 $130,000 (38.8%) $134,911 (19.2%) 0.00 120
    2018-11-01 $123,750 (38.1%) $130,697 (20.8%) 0.00 110
    2018-12-01 $124,000 (40.9%) $128,629 (19.5%) 0.00 105
    2019-01-01 $113,725 (35.6%) $123,448 (13.8%) 0.00 106
    2019-02-01 $104,800 (21.8%) $123,041 (11.0%) 0.00 102
    2019-03-01 $112,743 (17.4%) $129,168 (11.9%) 0.00 97
    2019-04-01 $135,900 (28.7%) $139,279 (15.7%) 0.00 93
    2019-05-01 $138,750 (17.2%) $148,115 (16.8%) 0.00 92
    2019-06-01 $136,500 (10.8%) $150,178 (14.7%) 0.00 96
    2019-07-01 $120,975 (-6.3%) $144,572 (8.1%) 0.00 93
    2019-08-01 $118,782 (-2.6%) $147,121 (13.1%) 0.00 92
    2019-09-01 $117,780 (-9.1%) $151,235 (10.8%) 0.00 90
    2019-10-01 $117,111 (-9.9%) $156,371 (15.9%) 0.00 86
    2019-11-01 $124,900 (0.9%) $151,829 (16.2%) 0.00 88
    2019-12-01 $124,225 (0.2%) $142,738 (11.0%) 0.00 92
    2020-01-01 $127,600 (12.2%) $140,203 (13.6%) 0.00 95
    2020-02-01 $129,950 (24.0%) $145,347 (18.1%) 0.00 92
    2020-03-01 $134,725 (19.5%) $145,584 (12.7%) 0.00 82
    2020-04-01 $132,325 (-2.6%) $146,638 (5.3%) 0.00 80
    2020-05-01 $139,700 (0.7%) $150,981 (1.9%) 0.00 72
    2020-06-01 $118,750 (-13.0%) $143,587 (-4.4%) 0.00 65
    2020-07-01 $116,875 (-3.4%) $150,385 (4.0%) 0.00 63
    2020-08-01 $119,500 (0.6%) $159,362 (8.3%) 0.00 56
    2020-09-01 $134,975 (14.6%) $164,837 (9.0%) 0.00 56
    2020-10-01 $119,500 (2.0%) $141,813 (-9.3%) 0.00 59
    2020-11-01 $109,475 (-12.4%) $138,233 (-9.0%) 0.00 61
    2020-12-01 $99,500 (-19.9%) $135,588 (-5.0%) 0.00 55
    2021-01-01 $89,000 (-30.3%) $127,694 (-8.9%) 0.00 48
    2021-02-01 $99,750 (-23.2%) $145,926 (0.4%) 0.00 42
    2021-03-01 $106,550 (-20.9%) $154,166 (5.9%) 0.00 33
    2021-04-01 $117,450 (-11.2%) $158,912 (8.4%) 0.00 35
    2021-05-01 $114,950 (-17.7%) $141,889 (-6.0%) 0.00 34
    2021-06-01 $135,725 (14.3%) $165,181 (15.0%) 0.00 29
    2021-07-01 $125,000 (7.0%) $153,181 (1.9%) 0.00 27
    2021-08-01 $139,500 (16.7%) $168,731 (5.9%) 0.00 38
    2021-09-01 $156,400 (15.9%) $190,038 (15.3%) 0.00 39
    2021-10-01 $139,000 (16.3%) $169,277 (19.4%) 0.00 47
    2021-11-01 $134,100 (22.5%) $187,713 (35.8%) 0.00 39
    2021-12-01 $136,875 (37.6%) $194,670 (43.6%) 0.00 35
    2022-01-01 $136,750 (53.7%) $197,923 (55.0%) 0.00 31
    2022-02-01 $127,000 (27.3%) $195,668 (34.1%) 0.00 31
    2022-03-01 $120,000 (12.6%) $193,898 (25.8%) 0.00 34
    2022-04-01 $172,450 (46.8%) $189,528 (19.3%) 0.00 33
    2022-05-01 $181,725 (58.1%) $194,463 (37.1%) 0.00 37
    2022-06-01 $157,000 (15.7%) $180,785 (9.5%) 0.00 42
    2022-07-01 $159,000 (27.2%) $181,013 (18.2%) 0.00 44
    2022-08-01 $147,000 (5.4%) $167,219 (-0.9%) 0.00 58
    2022-09-01 $149,450 (-4.4%) $179,480 (-5.6%) 0.00 64
    2022-10-01 $149,900 (7.8%) $184,892 (9.2%) 0.00 61
    2022-11-01 $148,750 (10.9%) $180,441 (-3.9%) 0.00 64
    2022-12-01 $159,900 (16.8%) $177,848 (-8.6%) 0.00 58
    2023-01-01 $148,500 (8.6%) $161,539 (-18.4%) 0.00 59
    2023-02-01 $147,500 (16.1%) $164,197 (-16.1%) 0.00 59
    2023-03-01 $147,250 (22.7%) $165,635 (-14.6%) 0.00 54
    2023-04-01 $149,900 (-13.1%) $168,342 (-11.2%) 0.00 47
    2023-05-01 $152,450 (-16.1%) $181,456 (-6.7%) 0.00 46
    2023-06-01 $166,450 (6.0%) $203,660 (12.7%) 0.00 45
    2023-07-01 $175,000 (10.1%) $206,091 (13.9%) 0.00 53
    2023-08-01 $187,375 (27.5%) $205,471 (22.9%) 0.00 66
    2023-09-01 $199,950 (33.8%) $217,998 (21.5%) 0.00 63
    2023-10-01 $183,625 (22.5%) $210,524 (13.9%) 0.00 63
    2023-11-01 $184,725 (24.2%) $224,050 (24.2%) 0.00 62
    2023-12-01 $192,500 (20.4%) $238,238 (34.0%) 0.00 53
    2024-01-01 $187,250 (26.1%) $226,677 (40.3%) 0.00 48
    2024-02-01 $192,500 (30.5%) $238,035 (45.0%) 0.00 47
    2024-03-01 $195,000 (32.4%) $239,287 (44.5%) 0.00 46
    2024-04-01 $195,000 (30.1%) $225,365 (33.9%) 0.00 38
    2024-05-01 $199,450 (30.8%) $230,971 (27.3%) 0.00 43
    2024-06-01 $199,450 (19.8%) $218,707 (7.4%) 0.00 45
    2024-07-01 $163,200 (-6.7%) $215,537 (4.6%) 0.00 48
    2024-08-01 $175,000 (-6.6%) $230,376 (12.1%) 0.00 49
    2024-09-01 $187,200 (-6.4%) $235,710 (8.1%) 0.00 44
    2024-10-01 $189,900 (3.4%) $246,346 (17.0%) 0.00 45
    Marshall's median listing price for 2024-10-01 was $189,900, a difference of $6,275 (3.4%) versus the prior year and $2,700 versus the prior month.

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

    Marshall's average listing price for 2024-10-01 was $246,346, a difference of $35,822 (17.0%) versus the prior year and $10,636 versus the prior month.

    For the 2024-10-01 period, Marshall had 45 MLS listings, a difference of 1 listings (2%) versus the prior month and -18 listings (-29%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Marshall (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,375 sqft
    2018-02-01 0 days 1,403 sqft
    2018-03-01 0 days 1,412 sqft
    2018-04-01 0 days 1,450 sqft
    2018-05-01 0 days 1,595 sqft
    2018-06-01 0 days 1,621 sqft
    2018-07-01 0 days 1,604 sqft
    2018-08-01 0 days 1,696 sqft
    2018-09-01 0 days 1,748 sqft
    2018-10-01 0 days 1,855 sqft
    2018-11-01 0 days 1,700 sqft
    2018-12-01 0 days 1,638 sqft
    2019-01-01 0 days 1,621 sqft
    2019-02-01 0 days 1,655 sqft
    2019-03-01 0 days 1,726 sqft
    2019-04-01 0 days 1,853 sqft
    2019-05-01 0 days 1,955 sqft
    2019-06-01 0 days 1,938 sqft
    2019-07-01 0 days 1,902 sqft
    2019-08-01 0 days 1,880 sqft
    2019-09-01 0 days 1,864 sqft
    2019-10-01 0 days 1,868 sqft
    2019-11-01 0 days 1,863 sqft
    2019-12-01 0 days 1,734 sqft
    2020-01-01 0 days 1,740 sqft
    2020-02-01 0 days 1,793 sqft
    2020-03-01 0 days 1,818 sqft
    2020-04-01 0 days 1,757 sqft
    2020-05-01 0 days 1,686 sqft
    2020-06-01 0 days 1,592 sqft
    2020-07-01 0 days 1,617 sqft
    2020-08-01 0 days 1,668 sqft
    2020-09-01 0 days 1,643 sqft
    2020-10-01 0 days 1,600 sqft
    2020-11-01 0 days 1,427 sqft
    2020-12-01 0 days 1,495 sqft
    2021-01-01 0 days 1,428 sqft
    2021-02-01 0 days 1,601 sqft
    2021-03-01 0 days 1,652 sqft
    2021-04-01 0 days 1,744 sqft
    2021-05-01 0 days 1,500 sqft
    2021-06-01 0 days 1,432 sqft
    2021-07-01 0 days 1,272 sqft
    2021-08-01 0 days 1,449 sqft
    2021-09-01 0 days 1,622 sqft
    2021-10-01 0 days 1,480 sqft
    2021-11-01 0 days 1,418 sqft
    2021-12-01 0 days 1,496 sqft
    2022-01-01 0 days 1,475 sqft
    2022-02-01 0 days 1,379 sqft
    2022-03-01 0 days 1,425 sqft
    2022-04-01 0 days 1,611 sqft
    2022-05-01 0 days 1,640 sqft
    2022-06-01 0 days 1,534 sqft
    2022-07-01 0 days 1,580 sqft
    2022-08-01 0 days 1,392 sqft
    2022-09-01 0 days 1,373 sqft
    2022-10-01 0 days 1,519 sqft
    2022-11-01 0 days 1,550 sqft
    2022-12-01 0 days 1,671 sqft
    2023-01-01 0 days 1,532 sqft
    2023-02-01 0 days 1,551 sqft
    2023-03-01 0 days 1,549 sqft
    2023-04-01 0 days 1,638 sqft
    2023-05-01 0 days 1,753 sqft
    2023-06-01 0 days 1,681 sqft
    2023-07-01 0 days 1,728 sqft
    2023-08-01 0 days 1,675 sqft
    2023-09-01 0 days 1,731 sqft
    2023-10-01 0 days 1,729 sqft
    2023-11-01 0 days 1,734 sqft
    2023-12-01 0 days 1,707 sqft
    2024-01-01 0 days 1,725 sqft
    2024-02-01 0 days 1,666 sqft
    2024-03-01 0 days 1,680 sqft
    2024-04-01 0 days 1,768 sqft
    2024-05-01 0 days 1,793 sqft
    2024-06-01 0 days 1,690 sqft
    2024-07-01 0 days 1,468 sqft
    2024-08-01 0 days 1,396 sqft
    2024-09-01 0 days 1,568 sqft
    2024-10-01 0 days 1,460 sqft
    Marshall's median listing age (time on market) for 2024-10-01 was 0 days.

    Marshall's median square footage for active listings during the 2024-10-01 period was 1,460 sqft. One year prior, the average listing was 1,729 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).