Muncie FHA Loan Rates, Closing Costs & Stats
MUNCIE, IN
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 66 lenders originated 333 FHA loans during 2023. The total origination value was $52,005,000, with an average FHA loan value of $156,171.
Muncie FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Muncie
averaged
0.27%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Muncie's average FHA mortgage closing costs are $4,868.
The average rate for the prior week (2024-11-22) was
6.96% and
one month ago for the week of 2024-10-25, the
average rate was 6.74%.
The average rate one year ago was 7.43%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.27%.
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.
The top Muncie FHA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with
53 FHA loans originated. Their average total fees are
$5,279, which is $1,828
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. ($5,279), NEWREZ LLC ($6,617), CALIBER HOME LOANS, INC. ($6,724), GVC MORTGAGE, INC. ($7,001) and QUICKEN LOANS, LLC ($7,108).
The lowest rate Muncie FHA lenders (with over 10 loans originated) are
CALIBER HOME LOANS, INC. (6.56%), NEWREZ LLC (6.73%), QUICKEN LOANS, LLC (6.74%), RUOFF MORTGAGE COMPANY, INC. (7.09%) and GVC MORTGAGE, INC. (7.19%).
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. LouisDate | 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 | 163 |
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 | 149 |
2022-08-01 | $135,000 (10.3%) | $202,583 (17.3%) | 0.00 | 157 |
2022-09-01 | $136,975 (9.7%) | $191,759 (15.4%) | 0.00 | 170 |
2022-10-01 | $165,375 (37.9%) | $195,021 (26.0%) | 0.00 | 182 |
2022-11-01 | $172,450 (39.4%) | $199,577 (29.7%) | 0.00 | 186 |
2022-12-01 | $174,250 (34.1%) | $198,491 (21.6%) | 0.00 | 152 |
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 | $125,925 (-4.1%) | $192,490 (6.4%) | 0.00 | 94 |
2023-06-01 | $129,400 (0.4%) | $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 (-1.2%) | 0.00 | 151 |
2023-09-01 | $154,950 (13.1%) | $189,193 (-1.3%) | 0.00 | 171 |
2023-10-01 | $152,450 (-7.8%) | $187,034 (-4.1%) | 0.00 | 182 |
2023-11-01 | $158,975 (-7.8%) | $188,300 (-5.7%) | 0.00 | 201 |
2023-12-01 | $152,450 (-12.5%) | $189,758 (-4.4%) | 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 | $152,400 (21.0%) | $194,716 (1.2%) | 0.00 | 142 |
2024-06-01 | $169,500 (31.0%) | $208,155 (7.3%) | 0.00 | 152 |
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 |
Muncie's median listing price comes in at 0% of the national average.
Muncie's average listing price for 2024-10-01 was $207,655, a difference of $20,621 (11.0%) versus the prior year and $-29,843 versus the prior month.
For the 2024-10-01 period, Muncie had 217 MLS listings, a difference of 32 listings (17%) versus the prior month and 35 listings (19%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Muncie (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 | 1,756 sqft |
2022-06-01 | 0 days | 1,687 sqft |
2022-07-01 | 0 days | 1,680 sqft |
2022-08-01 | 0 days | 1,794 sqft |
2022-09-01 | 0 days | 1,761 sqft |
2022-10-01 | 0 days | 1,733 sqft |
2022-11-01 | 0 days | 1,771 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 | 1,662 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 | 1,640 sqft |
2024-05-01 | 0 days | 1,709 sqft |
2024-06-01 | 0 days | 1,690 sqft |
2024-07-01 | 0 days | 1,780 sqft |
2024-08-01 | 0 days | 1,700 sqft |
2024-09-01 | 0 days | 1,712 sqft |
2024-10-01 | 0 days | 1,637 sqft |
Muncie's median square footage for active listings during the 2024-10-01 period was 1,637 sqft. One year prior, the average listing was 1,798 sqft.