Naples FHA Loan Rates, Closing Costs & Stats

NAPLES-MARCO ISLAND, FL

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.

Naples's 107 lenders originated 883 FHA loans during 2022. The total origination value was $329,905,000, with an average FHA loan value of $373,618.

Naples FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Naples averaged 6.09% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

Naples's average FHA mortgage closing costs are $10,941.

The average rate for the prior week (2023-05-19) was 5.67% and one month ago for the week of 2023-04-21, the average rate was 5.81%.

The average rate one year ago was 4.93%.

For refis of the same type during the week of 2023-05-26, the average rate was 4.75%.

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

Naples 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 Naples level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
CROSSCOUNTRY MORTGAGE, LLC 156 5.10% $17,313
UNITED WHOLESALE MORTGAGE, LLC 64 4.32% $15,647
CARDINAL FINANCIAL 60 4.89% $20,231
BROKER SOLUTIONS, INC. 42 5.08% $16,833
QUICKEN LOANS, LLC 42 4.03% $14,566
CALIBER HOME LOANS, INC. 32 4.26% $15,708
PANORAMA MORTGAGE GROUP, LLC 28 4.99% $20,697
GENEVA FINANCIAL, LLC 26 5.09% $16,278
PENNYMAC LOAN SERVICES, LLC 23 4.23% $14,826
LOANDEPOT.COM, LLC 20 4.61% $14,413
MOVEMENT MORTGAGE, LLC 19 5.09% $15,116
DHI MORTGAGE COMPANY, LTD. 13 4.50% $12,591
AMERICAN PACIFIC MORTGAGE CORPORATION 13 5.10% $20,333
Paramount Residential Mortgage Group, Inc. 12 4.80% $25,345
Lakeview Community Capital, LLC 10 3.57% $8,703
PRIMARY RESIDENTIAL MORTGAGE, INC. 9 5.47% $22,287
FREEDOM MORTGAGE CORPORATION 8 4.34% $13,234
EAGLE HOME MORTGAGE, LLC 7 5.34% $15,638
LAKEVIEW LOAN SERVICING, LLC 7 3.79% $9,353
Summit Mortgage Corporation 6 4.98% $17,193
Carrington Mortgage Services, LLC 6 5.15% $17,120
Mr. Cooper ( Nationstar Mortgage ) 6 4.52% $15,739
EVERETT FINANCIAL, INC. 6 5.02% $9,699
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 4.57% $11,883
AMERICAN BANCSHARES MORTGAGE, LLC 5 4.58% $17,717
AMERISAVE MORTGAGE CORPORATION 5 3.63% $15,226
HOME POINT FINANCIAL CORPORATION 5 4.18% $14,803
Citizens Bank 4 4.00% $13,912
NEWREZ LLC 4 4.75% $14,352
Equity Prime Mortgage LLC 4 5.28% $15,224
NORWICH COMMERCIAL GROUP, INC. 3 5.67% $17,315
Flagstar Bank, FSB 3 4.23% $14,713
FINANCE OF AMERICA MORTGAGE LLC 3 4.00% $13,845
BAY EQUITY LLC 3 5.50% $15,909
GUARANTEED RATE, INC. 3 4.21% $11,904
Northpointe Bank 3 4.75% $10,666
VILLAGE CAPITAL MORTGAGE 3 4.13% $12,022
NATIONS RELIABLE LENDING, LLC 3 5.33% $17,914
MY MORTGAGE, INC. 3 5.25% $17,969
MORTGAGE 1 INCORPORATED 2 4.44% $21,682
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 4.25% $21,648
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.87% $14,566
TOTAL MORTGAGE SERVICES, LLC 2 4.75% $17,367
OCMBC, INC. 2 2.75% $17,551
MUTUAL OF OMAHA MORTGAGE, INC. 2 4.63% $12,418
AMERICAN FINANCING CORPORATION 2 4.88% $15,551
VAN DYK MORTGAGE CORPORATION 2 6.63% $9,626
First Horizon Bank 2 3.44% $10,592
ACADEMY MORTGAGE CORPORATION 2 6.44% $15,518
Peoples Bank 2 4.31% $14,030
Regions Bank 2 4.63% $10,508
PLAZA HOME MORTGAGE, INC. 2 4.56% $14,112
LOANPAL, LLC 2 2.75% $15,647
GUARANTEED RATE AFFINITY, LLC 2 4.73% $14,386
SUCCESS MORTGAGE PARTNERS, INC. 2 4.81% $20,827
MATTAMY HOME FUNDING, LLC 2 3.75% $12,847
SUN WEST MORTGAGE COMPANY, INC. 2 4.31% $15,631
TBI MORTGAGE COMPANY 2 4.00% $16,676
Waterstone Mortgage Corporation 1 5.13% $21,660
ALLIED MORTGAGE GROUP, INC. 1 6.13% $12,003
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.13% $21,734
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 5.13% $12,729
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.50% $9,832
Barrington Bank & Trust Company, N.A. 1 7.25% $16,440
CALCON MUTUAL MORTGAGE LLC 1 6.25% $25,796
Centennial Bank 1 5.00% $16,337
CERTAINTY HOME LOANS, LLC 1 6.25% $16,372
CHERRY CREEK MORTGAGE, LLC 1 5.25% $6,506
CHURCHILL MORTGAGE CORPORATION 1 5.50% $15,779
CMG MORTGAGE, INC. 1 5.38% $26,391
COLUMBUS CAPITAL LENDING, LLC 1 4.00% $11,275
DRAPER AND KRAMER MORTGAGE CORP. 1 4.38% $11,551
EMBRACE HOME LOANS, INC. 1 5.99% $18,837
EMM LOANS LLC 1 3.38% $20,126
FIDELITY DIRECT MORTGAGE, LLC 1 6.75% $23,225
First Guaranty Mortgage Corporation 1 5.13% $6,832
FOUNDATION MORTGAGE CORPORATION 1 4.75% $17,208
GERSHMAN INVESTMENT CORP. 1 5.50% $22,138
GSF Mortgage Corporation 1 6.50% $21,200
HAMILTON HOME LOANS, INC. 1 4.99% $10,491
HOMESIDE FINANCIAL, LLC 1 2.99% $12,624
HOMESPIRE MORTGAGE CORPORATION 1 4.50% $15,153
INTELLILOAN, INC. 1 2.50% $10,705
JPMorgan Chase Bank 1 4.13% $20,821
LADERA LENDING, INC. 1 5.63% $17,697
Loan Simple, Inc. 1 6.25% $20,354
MICHIGAN MUTUAL, INC. 1 4.99% $11,060
Mortgage Lenders Investment Trading Corporation 1 5.75% $9,865
Nations Lending Corporation 1 6.75% $29,937
Neighborhood Loans, Inc. 1 5.88% $13,106
NFM, INC. 1 3.88% $10,866
PLANET HOME LENDING, LLC 1 4.99% $9,783
PNC Bank 1 5.63% $11,375
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.99% $15,440
PULTE MORTGAGE LLC 1 5.75% $17,080
Residential Mortgage Solutions, Inc. 1 5.75% $16,790
S1L, Inc. 1 5.13% $12,809
SECURITYNATIONAL MORTGAGE COMPANY 1 3.00% $22,989
South Pacific Financial Corporation 1 4.75% $14,594
SOUTHPOINT FINANCIAL SERVICES, INC. 1 4.88% $30,998
South State Bank 1 6.50% $17,923
SPACE COAST Credit Union 1 5.13% $10,688
The Federal Savings Bank 1 5.38% $11,133
THE MORTGAGE FIRM, INC. 1 5.13% $14,221
TOP FLITE FINANCIAL, INC. 1 4.50% $17,201
UNITED MORTGAGE CORP. 1 2.75% $17,136
UNIVERSAL MORTGAGE & FINANCE, INC. 1 4.75% $24,822

The top Naples FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 156 FHA loans originated. Their average total fees are $17,313, which is $1,666 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Naples FHA lenders (with over 10 loans originated) are Lakeview Community Capital, LLC ($8,703), DHI MORTGAGE COMPANY, LTD. ($12,591), LOANDEPOT.COM, LLC ($14,413), QUICKEN LOANS, LLC ($14,566) and PENNYMAC LOAN SERVICES, LLC ($14,826).

The lowest rate Naples FHA lenders (with over 10 loans originated) are Lakeview Community Capital, LLC (3.57%), QUICKEN LOANS, LLC (4.03%), PENNYMAC LOAN SERVICES, LLC (4.23%), CALIBER HOME LOANS, INC. (4.26%) and UNITED WHOLESALE MORTGAGE, LLC (4.32%).

Naples FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
NAPLES-MARCO ISLAND, FL COLLIER 2022 $552,000 $706,650 $854,200 $1,061,550
NAPLES-MARCO ISLAND, FL COLLIER 2023 $672,750 $861,250 $1,041,050 $1,293,750

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Naples (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 $468,900 (-6.0%) $955,497 (-6.6%) 1.74 6,385
2018-02-01 $469,000 (-5.7%) $938,749 (-7.2%) 1.71 6,867
2018-03-01 $460,000 (-6.0%) $930,658 (-7.1%) 1.61 7,090
2018-04-01 $456,100 (-6.7%) $911,095 (-7.9%) 1.55 6,898
2018-05-01 $449,900 (-5.3%) $893,558 (-8.7%) 1.50 6,574
2018-06-01 $449,900 (-5.7%) $883,640 (-9.3%) 1.50 6,206
2018-07-01 $449,700 (-5.3%) $886,938 (-7.1%) 1.50 5,894
2018-08-01 $445,473 (-5.2%) $883,042 (-8.0%) 1.49 5,719
2018-09-01 $439,950 (-6.4%) $882,337 (-9.6%) 1.48 5,649
2018-10-01 $445,000 (-5.1%) $910,227 (-5.9%) 1.51 6,080
2018-11-01 $449,000 (-4.3%) $920,712 (-3.8%) 1.52 6,595
2018-12-01 $449,000 (-2.4%) $915,696 (-3.8%) 1.55 6,957
2019-01-01 $449,450 (-4.2%) $924,565 (-3.2%) 1.55 7,385
2019-02-01 $454,862 (-3.0%) $923,294 (-1.7%) 1.54 7,863
2019-03-01 $459,000 (-0.2%) $928,358 (-0.3%) 1.53 7,920
2019-04-01 $459,000 (0.6%) $931,058 (2.2%) 1.46 7,662
2019-05-01 $450,000 (0.0%) $927,471 (3.8%) 1.41 7,113
2019-06-01 $450,000 (0.0%) $938,387 (6.2%) 1.41 6,567
2019-07-01 $449,450 (-0.1%) $919,014 (3.6%) 1.41 6,108
2019-08-01 $449,000 (0.8%) $920,426 (4.2%) 1.41 5,900
2019-09-01 $449,950 (2.3%) $914,834 (3.7%) 1.42 5,471
2019-10-01 $450,000 (1.1%) $923,300 (1.4%) 1.45 5,841
2019-11-01 $459,000 (2.2%) $950,477 (3.2%) 1.50 6,017
2019-12-01 $465,000 (3.6%) $960,423 (4.9%) 1.55 6,125
2020-01-01 $475,000 (5.7%) $997,643 (7.9%) 1.59 6,087
2020-02-01 $475,000 (4.4%) $991,163 (7.4%) 1.56 6,203
2020-03-01 $475,000 (3.5%) $1,008,669 (8.7%) 1.49 6,160
2020-04-01 $469,160 (2.2%) $978,840 (5.1%) 1.47 5,994
2020-05-01 $473,345 (5.2%) $1,008,953 (8.8%) 1.44 5,683
2020-06-01 $475,000 (5.6%) $1,025,949 (9.3%) 1.40 5,341
2020-07-01 $474,000 (5.5%) $1,031,953 (12.3%) 1.37 4,927
2020-08-01 $475,000 (5.8%) $1,051,742 (14.3%) 1.36 4,621
2020-09-01 $478,579 (6.4%) $1,064,008 (16.3%) 1.37 4,314
2020-10-01 $475,000 (5.6%) $1,068,283 (15.7%) 1.36 4,156
2020-11-01 $479,000 (4.4%) $1,085,815 (14.2%) 1.40 3,915
2020-12-01 $478,303 (2.9%) $1,105,719 (15.1%) 1.42 3,638
2021-01-01 $479,000 (0.8%) $1,144,020 (14.7%) 1.43 3,192
2021-02-01 $497,000 (4.6%) $1,169,300 (18.0%) 1.45 2,416
2021-03-01 $549,500 (15.7%) $1,276,801 (26.6%) 1.56 1,796
2021-04-01 $582,500 (24.2%) $1,363,855 (39.3%) 1.58 1,491
2021-05-01 $600,000 (26.8%) $1,461,823 (44.9%) 1.59 1,263
2021-06-01 $640,000 (34.7%) $1,523,262 (48.5%) 1.68 1,232
2021-07-01 $649,900 (37.1%) $1,577,046 (52.8%) 1.71 1,281
2021-08-01 $659,500 (38.8%) $1,557,881 (48.1%) 1.76 1,290
2021-09-01 $668,475 (39.7%) $1,616,479 (51.9%) 1.78 1,259
2021-10-01 $699,950 (47.4%) $1,687,676 (58.0%) 1.87 1,264
2021-11-01 $728,499 (52.1%) $1,787,211 (64.6%) 1.95 1,192
2021-12-01 $742,450 (55.2%) $1,844,149 (66.8%) 2.01 1,166
2022-01-01 $769,450 (60.6%) $1,928,505 (68.6%) 2.08 1,068
2022-02-01 $798,350 (60.6%) $1,969,890 (68.5%) 2.08 1,024
2022-03-01 $799,500 (45.5%) $1,863,799 (46.0%) 2.00 1,211
2022-04-01 $849,900 (45.9%) $1,839,091 (34.9%) 2.03 1,509
2022-05-01 $825,000 (37.5%) $1,746,261 (19.5%) 1.89 1,903
2022-06-01 $799,950 (25.0%) $1,692,527 (11.1%) 1.78 2,269
2022-07-01 $791,078 (21.7%) $1,677,531 (6.4%) 1.79 2,517
2022-08-01 $768,625 (16.6%) $1,611,204 (3.4%) 1.78 2,467
2022-09-01 $779,450 (16.6%) $1,626,372 (0.6%) 1.82 2,347
2022-10-01 $795,000 (13.6%) $1,673,851 (-0.8%) 1.87 2,379
2022-11-01 $799,000 (9.7%) $1,767,009 (-1.1%) 1.92 2,655
2022-12-01 $811,139 (9.3%) $1,827,719 (-0.9%) 2.00 2,765
2023-01-01 $854,450 (11.1%) $1,908,793 (-1.0%) 2.11 2,985
2023-02-01 $881,250 (10.4%) $2,055,108 (4.3%) 2.13 3,141
2023-03-01 $892,000 (11.6%) $2,246,431 (20.5%) 2.10 3,218
2023-04-01 $899,000 (5.8%) $2,281,525 (24.1%) 2.09 3,217
Naples's median listing price for 2023-04-01 was $899,000, a difference of $49,100 (5.8%) versus the prior year and $7,000 versus the prior month.

Naples's median listing price comes in at 209% of the national average.

Naples's average listing price for 2023-04-01 was $2,281,525, a difference of $442,434 (24.1%) versus the prior year and $35,094 versus the prior month.

For the 2023-04-01 period, Naples had 3,217 MLS listings, a difference of -1 listings (0%) versus the prior month and 1,708 listings (113%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Naples (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 91 days 1,943 sqft
2018-02-01 88 days 1,925 sqft
2018-03-01 84 days 1,910 sqft
2018-04-01 91 days 1,889 sqft
2018-05-01 97 days 1,876 sqft
2018-06-01 106 days 1,883 sqft
2018-07-01 114 days 1,889 sqft
2018-08-01 119 days 1,890 sqft
2018-09-01 120 days 1,884 sqft
2018-10-01 113 days 1,882 sqft
2018-11-01 102 days 1,880 sqft
2018-12-01 97 days 1,869 sqft
2019-01-01 96 days 1,866 sqft
2019-02-01 94 days 1,866 sqft
2019-03-01 96 days 1,863 sqft
2019-04-01 95 days 1,862 sqft
2019-05-01 105 days 1,861 sqft
2019-06-01 112 days 1,868 sqft
2019-07-01 119 days 1,866 sqft
2019-08-01 129 days 1,867 sqft
2019-09-01 131 days 1,877 sqft
2019-10-01 115 days 1,882 sqft
2019-11-01 100 days 1,883 sqft
2019-12-01 96 days 1,880 sqft
2020-01-01 98 days 1,895 sqft
2020-02-01 97 days 1,900 sqft
2020-03-01 95 days 1,900 sqft
2020-04-01 99 days 1,883 sqft
2020-05-01 108 days 1,884 sqft
2020-06-01 116 days 1,881 sqft
2020-07-01 121 days 1,870 sqft
2020-08-01 108 days 1,832 sqft
2020-09-01 106 days 1,833 sqft
2020-10-01 99 days 1,819 sqft
2020-11-01 87 days 1,824 sqft
2020-12-01 83 days 1,803 sqft
2021-01-01 80 days 1,778 sqft
2021-02-01 71 days 1,786 sqft
2021-03-01 53 days 1,833 sqft
2021-04-01 46 days 1,854 sqft
2021-05-01 45 days 1,869 sqft
2021-06-01 45 days 1,922 sqft
2021-07-01 46 days 1,901 sqft
2021-08-01 55 days 1,889 sqft
2021-09-01 59 days 1,925 sqft
2021-10-01 60 days 1,945 sqft
2021-11-01 61 days 2,000 sqft
2021-12-01 51 days 1,989 sqft
2022-01-01 55 days 1,971 sqft
2022-02-01 37 days 1,936 sqft
2022-03-01 31 days 1,915 sqft
2022-04-01 32 days 1,904 sqft
2022-05-01 36 days 1,884 sqft
2022-06-01 41 days 1,880 sqft
2022-07-01 52 days 1,868 sqft
2022-08-01 62 days 1,867 sqft
2022-09-01 71 days 1,881 sqft
2022-10-01 75 days 1,890 sqft
2022-11-01 70 days 1,884 sqft
2022-12-01 67 days 1,899 sqft
2023-01-01 68 days 1,925 sqft
2023-02-01 62 days 1,915 sqft
2023-03-01 57 days 1,921 sqft
2023-04-01 60 days 1,908 sqft
Naples's median listing age (time on market) for 2023-04-01 was 60 days. This is 88% longer than the same period one year ago.

Naples's median square footage for active listings during the 2023-04-01 period was 1,908 sqft. One year prior, the average listing was 1,904 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).