Muncie FHA Loan Rates, Closing Costs & Stats

MUNCIE, IN

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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.

    Muncie's 63 lenders originated 329 FHA loans during 2024. The total origination value was $51,315,000, with an average FHA loan value of $155,973.

    Muncie FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Muncie averaged 6.92% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Muncie's average FHA mortgage closing costs are $5,079.

    The average rate for the prior week (2025-03-28) was 6.72% and one month ago for the week of 2025-02-28, the average rate was 7.01%.

    The average rate one year ago was 6.92%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.67%.

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

    Muncie 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 Muncie level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    RUOFF MORTGAGE COMPANY, INC. 69 6.95% $4,404
    QUICKEN LOANS, LLC 42 6.60% $7,782
    GVC MORTGAGE, INC. 25 7.04% $7,283
    NEWREZ LLC 13 6.66% $6,155
    BROKER SOLUTIONS, INC. 10 7.10% $8,567
    FREEDOM MORTGAGE CORPORATION 9 6.33% $9,110
    UNION HOME MORTGAGE CORP. 8 6.94% $7,965
    First Merchants Bank 7 6.77% $5,465
    CROSSCOUNTRY MORTGAGE, LLC 7 6.85% $6,484
    CALCON MUTUAL MORTGAGE LLC 6 6.44% $7,329
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.77% $7,075
    MUTUAL OF OMAHA MORTGAGE, INC. 5 6.20% $13,410
    UNITED WHOLESALE MORTGAGE, LLC 4 6.22% $9,035
    Carrington Mortgage Services, LLC 4 6.75% $8,215
    MEMBER FIRST MORTGAGE, LLC 4 6.66% $9,775
    Old National Bank 4 5.97% $6,678
    JPMorgan Chase Bank 4 7.00% $6,976
    PNC Bank 3 6.63% $6,500
    PLANET HOME LENDING, LLC 3 6.42% $3,875
    MJW Financial LLC 3 6.38% $6,758
    Mr. Cooper ( Nationstar Mortgage ) 3 6.50% $10,066
    NEW DAY FINANCIAL, LLC 3 7.50% $3,699
    ROYAL UNITED MORTGAGE LLC 3 7.25% $8,586
    LOANPAL, LLC 3 5.75% $8,170
    Equity Prime Mortgage LLC 2 6.81% $6,374
    AMERICAN FINANCING CORPORATION 2 6.00% $8,045
    AmeriHome Mortgage Company, LLC 2 6.81% $5,671
    AMERISAVE MORTGAGE CORPORATION 2 6.69% $7,417
    DAS Acquisition Company, LLC 2 6.88% $6,596
    1ST SIGNATURE LENDING, LLC 2 7.25% $6,554
    GUILD MORTGAGE COMPANY 2 6.94% $10,344
    Ixonia Bank 2 7.19% $8,988
    LOANDEPOT.COM, LLC 2 6.38% $8,011
    MID AMERICA MORTGAGE, INC. 2 7.31% $7,132
    ZILLOW HOME LOANS, LLC 1 6.75% $8,770
    MILESTONE HOME LENDING, LLC 1 7.75% $4,173
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $9,524
    Mortgage Research Center, LLC 1 7.25% $6,117
    MOVEMENT MORTGAGE, LLC 1 6.75% $10,946
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 7.63% $5,948
    HOMESIDE FINANCIAL, LLC 1 6.63% $4,515
    GUARANTEED RATE, INC. 1 6.23% $6,030
    Goldwater Bank, N.A. 1 5.75% $10,410
    NFM, INC. 1 6.13% $4,163
    Northwest Bank 1 6.13% $4,878
    GENEVA FINANCIAL, LLC 1 7.00% $5,977
    PENNYMAC LOAN SERVICES, LLC 1 6.75% $3,183
    Plains Commerce Bank 1 7.50% $5,897
    Flagstar Bank, FSB 1 6.75% $5,798
    PLAZA HOME MORTGAGE, INC. 1 6.50% $5,759
    First Option Mortgage, LLC 1 6.88% $6,469
    Prosperity Home Mortgage, LLC 1 7.00% $8,001
    ENDEAVOR CAPITAL, LLC. 1 6.25% $8,761
    Regions Bank 1 6.25% $5,384
    CARDINAL FINANCIAL 1 7.75% $10,336
    Barrington Bank & Trust Company, N.A. 1 6.25% $6,851
    Sierra Pacific Mortgage Company, Inc. 1 6.13% $10,350
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.75% $7,171
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $6,934
    VAN DYK MORTGAGE CORPORATION 1 6.38% $6,908
    VILLAGE CAPITAL MORTGAGE 1 6.25% $4,948
    V.I.P. MORTGAGE, INC. 1 6.25% $8,950
    LOANFLIGHT LENDING, LLC 1 6.75% $6,934

    The top Muncie FHA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with 69 FHA loans originated. Their average total fees are $4,404, which is $3,377 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Muncie FHA lenders (with over 10 loans originated) are RUOFF MORTGAGE COMPANY, INC. ($4,404), NEWREZ LLC ($6,155), GVC MORTGAGE, INC. ($7,283), QUICKEN LOANS, LLC ($7,782) and BROKER SOLUTIONS, INC. ($8,567).

    The lowest rate Muncie FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.60%), NEWREZ LLC (6.66%), RUOFF MORTGAGE COMPANY, INC. (6.95%), GVC MORTGAGE, INC. (7.04%) and BROKER SOLUTIONS, INC. (7.10%).

    Muncie FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Muncie (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 $74,900 (1.0%) $112,806 (-1.1%) 0.00 363
    2018-02-01 $74,900 (7.2%) $117,880 (1.5%) 0.00 348
    2018-03-01 $74,900 (4.7%) $126,601 (8.0%) 0.00 330
    2018-04-01 $77,444 (6.2%) $142,299 (22.0%) 0.00 313
    2018-05-01 $89,925 (23.3%) $146,861 (23.3%) 0.00 346
    2018-06-01 $88,194 (11.7%) $143,176 (12.7%) 0.00 369
    2018-07-01 $89,900 (11.1%) $141,504 (8.4%) 0.00 387
    2018-08-01 $87,322 (4.5%) $142,802 (-1.8%) 0.00 405
    2018-09-01 $85,000 (-0.5%) $138,709 (-12.3%) 0.00 435
    2018-10-01 $87,925 (4.6%) $140,051 (-11.2%) 0.00 416
    2018-11-01 $85,175 (5.7%) $140,101 (-11.1%) 0.00 405
    2018-12-01 $79,900 (6.7%) $136,042 (13.8%) 0.00 387
    2019-01-01 $79,900 (6.7%) $133,094 (18.0%) 0.00 368
    2019-02-01 $79,900 (6.7%) $127,795 (8.4%) 0.00 352
    2019-03-01 $82,686 (10.4%) $134,346 (6.1%) 0.00 345
    2019-04-01 $87,150 (12.5%) $142,940 (0.5%) 0.00 345
    2019-05-01 $98,675 (9.7%) $149,283 (1.7%) 0.00 343
    2019-06-01 $105,000 (19.1%) $153,534 (7.2%) 0.00 350
    2019-07-01 $107,400 (19.5%) $163,182 (15.3%) 0.00 355
    2019-08-01 $118,536 (35.8%) $162,873 (14.1%) 0.00 371
    2019-09-01 $116,491 (37.1%) $158,220 (14.1%) 0.00 379
    2019-10-01 $113,450 (29.0%) $152,810 (9.1%) 0.00 378
    2019-11-01 $109,900 (29.0%) $144,891 (3.4%) 0.00 375
    2019-12-01 $99,900 (25.0%) $140,825 (3.5%) 0.00 336
    2020-01-01 $100,723 (26.1%) $141,730 (6.5%) 0.00 302
    2020-02-01 $94,400 (18.2%) $140,808 (10.2%) 0.00 267
    2020-03-01 $90,438 (9.4%) $140,663 (4.7%) 0.00 246
    2020-04-01 $81,400 (-6.6%) $137,777 (-3.6%) 0.00 237
    2020-05-01 $88,000 (-10.8%) $159,458 (6.8%) 0.00 193
    2020-06-01 $81,175 (-22.7%) $159,972 (4.2%) 0.00 161
    2020-07-01 $111,425 (3.8%) $178,876 (9.6%) 0.00 146
    2020-08-01 $110,000 (-7.2%) $175,809 (7.9%) 0.00 158
    2020-09-01 $112,400 (-3.5%) $166,349 (5.1%) 0.00 200
    2020-10-01 $103,900 (-8.4%) $157,104 (2.8%) 0.00 236
    2020-11-01 $95,525 (-13.1%) $153,051 (5.6%) 0.00 237
    2020-12-01 $78,838 (-21.1%) $140,566 (-0.2%) 0.00 205
    2021-01-01 $68,950 (-31.5%) $136,035 (-4.0%) 0.00 187
    2021-02-01 $63,900 (-32.3%) $139,396 (-1.0%) 0.00 139
    2021-03-01 $59,900 (-33.8%) $137,791 (-2.0%) 0.00 115
    2021-04-01 $63,475 (-22.0%) $127,887 (-7.2%) 0.00 108
    2021-05-01 $67,000 (-23.9%) $132,118 (-17.2%) 0.00 116
    2021-06-01 $89,150 (9.8%) $158,170 (-1.1%) 0.00 134
    2021-07-01 $115,900 (4.0%) $173,918 (-2.8%) 0.00 169
    2021-08-01 $122,450 (11.3%) $172,663 (-1.8%) 0.00 168
    2021-09-01 $124,900 (11.1%) $166,224 (-0.1%) 0.00 170
    2021-10-01 $119,900 (15.4%) $154,827 (-1.5%) 0.00 162
    2021-11-01 $123,700 (29.5%) $153,934 (0.6%) 0.00 144
    2021-12-01 $129,900 (64.8%) $163,246 (16.1%) 0.00 135
    2022-01-01 $132,900 (92.8%) $153,079 (12.5%) 0.00 115
    2022-02-01 $107,500 (68.2%) $145,211 (4.2%) 0.00 74
    2022-03-01 $119,450 (99.4%) $161,852 (17.5%) 0.00 82
    2022-04-01 $111,250 (75.3%) $163,836 (28.1%) 0.00 91
    2022-05-01 $131,250 (95.9%) $180,972 (37.0%) 0.00 108
    2022-06-01 $128,900 (44.6%) $192,920 (22.0%) 0.00 133
    2022-07-01 $130,000 (12.2%) $202,990 (16.7%) 0.00 148
    2022-08-01 $135,000 (10.3%) $198,691 (15.1%) 0.00 156
    2022-09-01 $134,975 (8.1%) $188,366 (13.3%) 0.00 169
    2022-10-01 $164,900 (37.5%) $191,702 (23.8%) 0.00 181
    2022-11-01 $172,425 (39.4%) $196,495 (27.7%) 0.00 185
    2022-12-01 $170,000 (30.9%) $196,398 (20.3%) 0.00 151
    2023-01-01 $167,400 (26.0%) $188,741 (23.3%) 0.00 122
    2023-02-01 $149,500 (39.1%) $191,549 (31.9%) 0.00 103
    2023-03-01 $139,975 (17.2%) $196,106 (21.2%) 0.00 89
    2023-04-01 $134,950 (21.3%) $196,927 (20.2%) 0.00 91
    2023-05-01 $125,950 (-4.0%) $192,490 (6.4%) 0.00 94
    2023-06-01 $128,675 (-0.2%) $194,018 (0.6%) 0.00 111
    2023-07-01 $134,900 (3.8%) $186,569 (-8.1%) 0.00 138
    2023-08-01 $152,500 (13.0%) $200,226 (0.8%) 0.00 151
    2023-09-01 $154,950 (14.8%) $189,193 (0.4%) 0.00 171
    2023-10-01 $152,450 (-7.6%) $187,034 (-2.4%) 0.00 182
    2023-11-01 $158,975 (-7.8%) $188,300 (-4.2%) 0.00 201
    2023-12-01 $152,450 (-10.3%) $189,758 (-3.4%) 0.00 218
    2024-01-01 $163,450 (-2.4%) $199,008 (5.4%) 0.00 200
    2024-02-01 $161,200 (7.8%) $195,946 (2.3%) 0.00 185
    2024-03-01 $163,450 (16.8%) $193,472 (-1.3%) 0.00 168
    2024-04-01 $148,550 (10.1%) $187,516 (-4.8%) 0.00 151
    2024-05-01 $154,075 (22.3%) $196,427 (2.1%) 0.00 141
    2024-06-01 $169,900 (32.0%) $207,731 (7.1%) 0.00 150
    2024-07-01 $180,700 (34.0%) $224,673 (20.4%) 0.00 165
    2024-08-01 $177,000 (16.1%) $230,829 (15.3%) 0.00 174
    2024-09-01 $184,900 (19.3%) $237,498 (25.5%) 0.00 185
    2024-10-01 $160,375 (5.2%) $207,655 (11.0%) 0.00 217
    2024-11-01 $163,950 (3.1%) $206,413 (9.6%) 0.00 222
    2024-12-01 $169,900 (11.5%) $215,869 (13.8%) 0.00 206
    2025-01-01 $152,925 (-6.4%) $211,934 (6.5%) 0.00 195
    2025-02-01 $159,950 (-0.8%) $218,431 (11.5%) 0.00 174
    2025-03-01 $155,000 (-5.2%) $222,604 (15.1%) 0.00 169
    Muncie's median listing price for 2025-03-01 was $155,000, a difference of $-8,450 (-5.2%) versus the prior year and $-4,950 versus the prior month.

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

    Muncie's average listing price for 2025-03-01 was $222,604, a difference of $29,132 (15.1%) versus the prior year and $4,173 versus the prior month.

    For the 2025-03-01 period, Muncie had 169 MLS listings, a difference of -5 listings (-3%) versus the prior month and 1 listings (1%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Muncie (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,522 sqft
    2018-02-01 0 days 1,525 sqft
    2018-03-01 0 days 1,537 sqft
    2018-04-01 0 days 1,580 sqft
    2018-05-01 0 days 1,735 sqft
    2018-06-01 0 days 1,735 sqft
    2018-07-01 0 days 1,722 sqft
    2018-08-01 0 days 1,665 sqft
    2018-09-01 0 days 1,609 sqft
    2018-10-01 0 days 1,612 sqft
    2018-11-01 0 days 1,612 sqft
    2018-12-01 0 days 1,617 sqft
    2019-01-01 0 days 1,527 sqft
    2019-02-01 0 days 1,497 sqft
    2019-03-01 0 days 1,492 sqft
    2019-04-01 0 days 1,527 sqft
    2019-05-01 0 days 1,547 sqft
    2019-06-01 0 days 1,579 sqft
    2019-07-01 0 days 1,611 sqft
    2019-08-01 0 days 1,623 sqft
    2019-09-01 0 days 1,616 sqft
    2019-10-01 0 days 1,610 sqft
    2019-11-01 0 days 1,599 sqft
    2019-12-01 0 days 1,588 sqft
    2020-01-01 0 days 1,569 sqft
    2020-02-01 0 days 1,560 sqft
    2020-03-01 0 days 1,487 sqft
    2020-04-01 0 days 1,458 sqft
    2020-05-01 0 days 1,464 sqft
    2020-06-01 0 days 1,464 sqft
    2020-07-01 0 days 1,584 sqft
    2020-08-01 0 days 1,658 sqft
    2020-09-01 0 days 1,617 sqft
    2020-10-01 0 days 1,567 sqft
    2020-11-01 0 days 1,503 sqft
    2020-12-01 0 days 1,465 sqft
    2021-01-01 0 days 1,407 sqft
    2021-02-01 0 days 1,400 sqft
    2021-03-01 0 days 1,298 sqft
    2021-04-01 0 days 1,357 sqft
    2021-05-01 0 days 1,393 sqft
    2021-06-01 0 days 1,551 sqft
    2021-07-01 0 days 1,632 sqft
    2021-08-01 0 days 1,602 sqft
    2021-09-01 0 days 1,604 sqft
    2021-10-01 0 days 1,594 sqft
    2021-11-01 0 days 1,581 sqft
    2021-12-01 0 days 1,538 sqft
    2022-01-01 0 days 1,584 sqft
    2022-02-01 0 days 1,576 sqft
    2022-03-01 0 days 1,603 sqft
    2022-04-01 0 days 1,694 sqft
    2022-05-01 0 days 1,769 sqft
    2022-06-01 0 days 1,721 sqft
    2022-07-01 0 days 1,703 sqft
    2022-08-01 0 days 1,796 sqft
    2022-09-01 0 days 1,751 sqft
    2022-10-01 0 days 1,728 sqft
    2022-11-01 0 days 1,769 sqft
    2022-12-01 0 days 1,684 sqft
    2023-01-01 0 days 1,609 sqft
    2023-02-01 0 days 1,642 sqft
    2023-03-01 0 days 1,609 sqft
    2023-04-01 0 days 1,728 sqft
    2023-05-01 0 days 1,588 sqft
    2023-06-01 0 days 1,658 sqft
    2023-07-01 0 days 1,580 sqft
    2023-08-01 0 days 1,793 sqft
    2023-09-01 0 days 1,758 sqft
    2023-10-01 0 days 1,798 sqft
    2023-11-01 0 days 1,742 sqft
    2023-12-01 0 days 1,741 sqft
    2024-01-01 0 days 1,802 sqft
    2024-02-01 0 days 1,750 sqft
    2024-03-01 0 days 1,695 sqft
    2024-04-01 0 days 1,636 sqft
    2024-05-01 0 days 1,709 sqft
    2024-06-01 0 days 1,686 sqft
    2024-07-01 0 days 1,780 sqft
    2024-08-01 0 days 1,711 sqft
    2024-09-01 0 days 1,720 sqft
    2024-10-01 0 days 1,638 sqft
    2024-11-01 0 days 1,600 sqft
    2024-12-01 0 days 1,569 sqft
    2025-01-01 0 days 1,537 sqft
    2025-02-01 0 days 1,640 sqft
    2025-03-01 0 days 1,630 sqft
    Muncie's median listing age (time on market) for 2025-03-01 was 0 days.

    Muncie's median square footage for active listings during the 2025-03-01 period was 1,630 sqft. One year prior, the average listing was 1,695 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).