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 113 lenders originated 799 FHA loans during 2023. The total origination value was $343,675,000, with an average FHA loan value of $430,131.

Naples FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Naples averaged 6.53% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Naples's average FHA mortgage closing costs are $11,754.

The average rate for the prior week (2024-04-05) was 6.65% and one month ago for the week of 2024-03-08, the average rate was 6.69%.

The average rate one year ago was 6.32%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.85%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
CROSSCOUNTRY MORTGAGE, LLC 157 6.78% $20,376
UNITED WHOLESALE MORTGAGE, LLC 84 6.22% $18,222
AMERICAN PACIFIC MORTGAGE CORPORATION 67 6.55% $23,288
LOANDEPOT.COM, LLC 48 6.38% $12,618
CARDINAL FINANCIAL 45 6.49% $21,264
QUICKEN LOANS, LLC 42 6.23% $18,243
EAGLE HOME MORTGAGE, LLC 35 5.99% $13,465
BROKER SOLUTIONS, INC. 26 6.80% $17,789
GENEVA FINANCIAL, LLC 15 6.39% $23,004
MOVEMENT MORTGAGE, LLC 13 6.43% $18,286
PULTE MORTGAGE LLC 10 6.54% $12,688
Paramount Residential Mortgage Group, Inc. 10 6.78% $20,036
AMERICAN FINANCIAL NETWORK, INC. 8 7.25% $20,963
Mr. Cooper ( Nationstar Mortgage ) 8 5.75% $21,758
Sierra Pacific Mortgage Company, Inc. 7 6.70% $21,090
PRIMARY RESIDENTIAL MORTGAGE, INC. 6 6.31% $24,133
LAKE MICHIGAN CREDIT UNION 5 6.48% $14,569
NEWREZ LLC 5 6.00% $19,848
Summit Mortgage Corporation 5 6.67% $20,005
CHURCHILL MORTGAGE CORPORATION 4 6.38% $18,830
PENNYMAC LOAN SERVICES, LLC 4 6.47% $21,341
DHI MORTGAGE COMPANY, LTD. 4 5.91% $14,319
Century Mortgage Company DBA Century Lending Company 3 6.58% $27,284
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 6.21% $19,648
FREEDOM MORTGAGE CORPORATION 3 6.92% $20,584
GVC MORTGAGE, INC. 3 6.96% $17,695
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.75% $17,462
AMERICAN FINANCING CORPORATION 3 6.08% $21,598
AMERISAVE MORTGAGE CORPORATION 3 5.92% $28,871
CALIBER HOME LOANS, INC. 3 6.04% $15,149
Carrington Mortgage Services, LLC 3 6.13% $19,703
HOMESIDE FINANCIAL, LLC 3 6.54% $12,800
South State Bank 3 6.58% $13,518
FBC MORTGAGE, LLC 3 6.83% $12,697
PLAZA HOME MORTGAGE, INC. 2 6.25% $18,186
AMERICAN BANCSHARES MORTGAGE 2 7.56% $15,637
American Mortgage & Equity Consultants, Inc. 2 7.38% $23,268
Armed Forces Bank 2 6.13% $20,555
Equity Prime Mortgage LLC 2 6.13% $17,248
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.37% $14,636
GUARANTEED RATE AFFINITY, LLC 2 6.25% $16,068
GUARANTEED RATE, INC. 2 7.00% $19,059
HOMEOWNERS FINANCIAL GROUP USA, LLC 2 6.69% $19,315
INSPIRE HOME LOANS INC. 2 5.69% $9,530
LEADERONE FINANCIAL CORPORATION 2 6.19% $22,298
MATTAMY HOME FUNDING, LLC 2 5.00% $24,640
MID AMERICA MORTGAGE, INC. 2 6.94% $34,112
MUTUAL OF OMAHA MORTGAGE, INC. 2 5.75% $24,537
NATIONS RELIABLE LENDING, LLC 2 6.75% $20,279
NETWORK CAPITAL FUNDING CORPORATION 2 6.44% $16,205
Northpointe Bank 2 7.50% $17,839
THE MORTGAGE FIRM, INC. 2 6.63% $25,272
TJC Mortgage, Inc. 2 6.19% $24,376
U.S. Bank 2 6.44% $18,055
Waterstone Mortgage Corporation 1 6.13% $24,403
LEGEND LENDING CORPORATION 1 6.75% $24,751
First Federal Bank 1 6.38% $17,335
LOANPAL, LLC 1 5.25% $6,652
Loan Simple, Inc. 1 6.13% $9,529
Wells Fargo Bank 1 6.63% $11,458
MICHIGAN MUTUAL, INC. 1 7.13% $32,234
TOP FLITE FINANCIAL, INC. 1 7.25% $10,679
MILEND, INC. 1 5.50% $35,812
MORTGAGE EQUITY PARTNERS LLC 1 7.13% $14,948
Mortgage Lenders Investment Trading Corporation 1 8.25% $11,079
Mortgage Research Center, LLC 1 5.99% $20,855
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $20,983
FIRST COMMUNITY MORTGAGE, INC. 1 5.75% $23,535
FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.13% $21,826
M&T Bank 1 6.88% $12,294
UNION HOME MORTGAGE CORP. 1 6.50% $23,349
MY MORTGAGE, INC. 1 6.63% $15,729
ACADEMY MORTGAGE CORPORATION 1 6.00% $26,675
NEAL COMMUNITIES FUNDING, LLC 1 6.75% $15,651
ZILLOW HOME LOANS, LLC 1 6.75% $14,641
NEW DAY FINANCIAL, LLC 1 7.50% $6,237
EVERETT FINANCIAL, INC. 1 6.63% $27,883
VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.13% $16,531
NORWICH COMMERCIAL GROUP, INC. 1 6.13% $14,494
NP, Inc. 1 7.75% $35,091
EMM LOANS LLC 1 7.25% $12,354
DELMAR FINANCIAL COMPANY 1 6.88% $9,917
PENTAGON FEDERAL CREDIT UNION 1 5.63% $18,524
PLANET HOME LENDING, LLC 1 6.38% $14,739
1ST 2ND MORTGAGE COMPANY OF N.J., INC. 1 6.75% $14,445
COMPASS MORTGAGE, INC. 1 6.25% $14,743
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $28,168
CMG MORTGAGE, INC. 1 6.13% $13,767
BAY EQUITY LLC 1 6.62% $21,132
RAPID MORTGAGE COMPANY 1 7.25% $17,076
READY MORTGAGE LENDERS, LLC 1 6.25% $20,349
Regions Bank 1 6.63% $14,571
Residential Mortgage Solutions, Inc. 1 6.38% $18,567
RUOFF MORTGAGE COMPANY, INC. 1 6.75% $15,163
Bank of England 1 6.75% $21,331
AMERICAN FINANCIAL RESOURCES, INC. 1 5.88% $18,886
SOVEREIGN LENDING GROUP INCORPORATED 1 7.25% $14,704
SUCCESS MORTGAGE PARTNERS, INC. 1 6.88% $35,474
AMCAP MORTGAGE, LTD. 1 7.00% $28,261
GSF Mortgage Corporation 1 5.63% $18,136
SUN WEST MORTGAGE COMPANY, INC. 1 6.50% $18,819
TD Bank 1 6.25% $9,287
GLENDENNING MORTGAGE CORPORATION 1 6.25% $31,841
Flagstar Bank, FSB 1 6.75% $17,977
The Federal Savings Bank 1 6.13% $21,295
FIRST MORTGAGE COMPANY, INC. 1 7.13% $18,264
HOMESTEAD FUNDING CORP. 1 5.13% $10,452
Hometown Equity Mortgage, LLC 1 7.75% $16,138
The Loan Store, Inc. 1 7.25% $29,810
Ixonia Bank 1 7.75% $16,178
JPMorgan Chase Bank 1 6.25% $14,672
Keystone Funding, Inc. 1 6.13% $24,621
First Horizon Bank 1 7.50% $10,716

The top Naples FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 157 FHA loans originated. Their average total fees are $20,376, which is $2,153 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Naples FHA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC ($12,618), PULTE MORTGAGE LLC ($12,688), EAGLE HOME MORTGAGE, LLC ($13,465), BROKER SOLUTIONS, INC. ($17,789) and UNITED WHOLESALE MORTGAGE, LLC ($18,222).

The lowest rate Naples FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.99%), UNITED WHOLESALE MORTGAGE, LLC (6.22%), QUICKEN LOANS, LLC (6.23%), LOANDEPOT.COM, LLC (6.38%) and GENEVA FINANCIAL, LLC (6.39%).

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%) 1.70 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 $454,684 (-3.1%) $923,013 (-1.7%) 1.54 7,862
2019-03-01 $458,914 (-0.2%) $932,859 (0.2%) 1.50 7,821
2019-04-01 $458,989 (0.6%) $932,334 (2.3%) 1.46 7,659
2019-05-01 $450,000 (0.0%) $927,167 (3.8%) 1.41 7,112
2019-06-01 $450,000 (0.0%) $938,364 (6.2%) 1.41 6,566
2019-07-01 $449,450 (-0.1%) $918,666 (3.6%) 1.41 6,107
2019-08-01 $449,245 (0.9%) $920,740 (4.3%) 1.42 5,957
2019-09-01 $449,614 (2.2%) $919,825 (4.3%) 1.44 5,878
2019-10-01 $449,950 (1.1%) $923,402 (1.5%) 1.45 5,850
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 (4.5%) $991,163 (7.4%) 1.55 6,203
2020-03-01 $475,000 (3.5%) $1,008,669 (8.1%) 1.49 6,160
2020-04-01 $469,160 (2.2%) $978,840 (5.0%) 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 (5.7%) $1,051,742 (14.2%) 1.36 4,621
2020-09-01 $478,579 (6.4%) $1,064,008 (15.7%) 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%) $1,085,720 (14.2%) 1.40 3,915
2020-12-01 $478,105 (2.8%) $1,105,519 (15.1%) 1.42 3,639
2021-01-01 $479,000 (0.8%) $1,143,779 (14.7%) 1.43 3,193
2021-02-01 $497,000 (4.6%) $1,168,993 (17.9%) 1.45 2,417
2021-03-01 $549,500 (15.7%) $1,276,586 (26.6%) 1.56 1,796
2021-04-01 $582,100 (24.1%) $1,362,758 (39.2%) 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%) $1,522,698 (48.4%) 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%) $1,557,300 (48.1%) 1.76 1,290
2021-09-01 $666,000 (39.2%) $1,615,310 (51.8%) 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 (55.3%) $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 (46.0%) $1,839,091 (35.0%) 2.03 1,509
2022-05-01 $825,000 (37.5%) $1,745,267 (19.4%) 1.89 1,903
2022-06-01 $799,945 (25.0%) $1,692,527 (11.2%) 1.78 2,269
2022-07-01 $790,000 (21.6%) $1,676,639 (6.3%) 1.78 2,517
2022-08-01 $766,750 (16.3%) $1,609,801 (3.4%) 1.77 2,467
2022-09-01 $778,950 (17.0%) $1,625,772 (0.7%) 1.82 2,347
2022-10-01 $795,000 (13.6%) $1,673,020 (-0.9%) 1.87 2,379
2022-11-01 $799,000 (9.7%) $1,765,838 (-1.2%) 1.92 2,655
2022-12-01 $811,139 (9.3%) $1,827,719 (-0.9%) 2.00 2,765
2023-01-01 $850,950 (10.6%) $1,907,779 (-1.1%) 2.11 2,985
2023-02-01 $879,500 (10.2%) $2,054,097 (4.3%) 2.12 3,141
2023-03-01 $892,000 (11.6%) $2,244,743 (20.4%) 2.10 3,218
2023-04-01 $899,000 (5.8%) $2,280,143 (24.0%) 2.09 3,216
2023-05-01 $899,748 (9.1%) $2,290,211 (31.2%) 2.04 3,131
2023-06-01 $889,950 (11.3%) $2,193,264 (29.6%) 2.00 3,087
2023-07-01 $854,500 (8.2%) $2,157,210 (28.7%) 1.94 2,990
2023-08-01 $845,013 (10.2%) $2,092,003 (30.0%) 1.94 2,886
2023-09-01 $839,900 (7.8%) $2,025,423 (24.6%) 1.96 2,977
2023-10-01 $850,000 (6.9%) $2,003,511 (19.8%) 2.00 3,399
2023-11-01 $854,725 (7.0%) $2,029,371 (14.9%) 2.04 3,974
2023-12-01 $855,000 (5.4%) $2,035,302 (11.4%) 2.09 4,324
2024-01-01 $850,000 (-0.1%) $2,025,147 (6.2%) 2.08 4,839
2024-02-01 $849,950 (-3.4%) $2,057,708 (0.2%) 2.05 5,438
2024-03-01 $849,000 (-4.8%) $2,049,294 (-8.7%) 2.00 5,852
Naples's median listing price for 2024-03-01 was $849,000, a difference of $-43,000 (-4.8%) versus the prior year and $-950 versus the prior month.

Naples's median listing price comes in at 200% of the national average.

Naples's average listing price for 2024-03-01 was $2,049,294, a difference of $-195,449 (-8.7%) versus the prior year and $-8,414 versus the prior month.

For the 2024-03-01 period, Naples had 5,852 MLS listings, a difference of 414 listings (8%) versus the prior month and 2,634 listings (82%) 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 80 days 1,943 sqft
2018-02-01 75 days 1,925 sqft
2018-03-01 73 days 1,910 sqft
2018-04-01 81 days 1,889 sqft
2018-05-01 87 days 1,874 sqft
2018-06-01 96 days 1,883 sqft
2018-07-01 103 days 1,889 sqft
2018-08-01 106 days 1,890 sqft
2018-09-01 107 days 1,884 sqft
2018-10-01 99 days 1,882 sqft
2018-11-01 88 days 1,880 sqft
2018-12-01 86 days 1,869 sqft
2019-01-01 87 days 1,866 sqft
2019-02-01 85 days 1,865 sqft
2019-03-01 85 days 1,865 sqft
2019-04-01 88 days 1,862 sqft
2019-05-01 97 days 1,861 sqft
2019-06-01 102 days 1,868 sqft
2019-07-01 108 days 1,866 sqft
2019-08-01 109 days 1,868 sqft
2019-09-01 106 days 1,868 sqft
2019-10-01 102 days 1,876 sqft
2019-11-01 87 days 1,883 sqft
2019-12-01 85 days 1,880 sqft
2020-01-01 87 days 1,895 sqft
2020-02-01 86 days 1,900 sqft
2020-03-01 80 days 1,900 sqft
2020-04-01 90 days 1,883 sqft
2020-05-01 99 days 1,885 sqft
2020-06-01 107 days 1,882 sqft
2020-07-01 106 days 1,870 sqft
2020-08-01 94 days 1,832 sqft
2020-09-01 94 days 1,833 sqft
2020-10-01 83 days 1,819 sqft
2020-11-01 74 days 1,824 sqft
2020-12-01 74 days 1,802 sqft
2021-01-01 73 days 1,777 sqft
2021-02-01 60 days 1,786 sqft
2021-03-01 49 days 1,833 sqft
2021-04-01 44 days 1,854 sqft
2021-05-01 43 days 1,869 sqft
2021-06-01 44 days 1,922 sqft
2021-07-01 44 days 1,902 sqft
2021-08-01 52 days 1,889 sqft
2021-09-01 57 days 1,924 sqft
2021-10-01 58 days 1,944 sqft
2021-11-01 58 days 2,000 sqft
2021-12-01 50 days 1,988 sqft
2022-01-01 54 days 1,971 sqft
2022-02-01 36 days 1,936 sqft
2022-03-01 30 days 1,915 sqft
2022-04-01 31 days 1,904 sqft
2022-05-01 36 days 1,883 sqft
2022-06-01 40 days 1,881 sqft
2022-07-01 51 days 1,868 sqft
2022-08-01 61 days 1,866 sqft
2022-09-01 69 days 1,879 sqft
2022-10-01 74 days 1,888 sqft
2022-11-01 67 days 1,882 sqft
2022-12-01 65 days 1,894 sqft
2023-01-01 67 days 1,924 sqft
2023-02-01 60 days 1,914 sqft
2023-03-01 54 days 1,921 sqft
2023-04-01 58 days 1,906 sqft
2023-05-01 62 days 1,908 sqft
2023-06-01 67 days 1,871 sqft
2023-07-01 75 days 1,857 sqft
2023-08-01 80 days 1,853 sqft
2023-09-01 75 days 1,848 sqft
2023-10-01 67 days 1,847 sqft
2023-11-01 60 days 1,835 sqft
2023-12-01 65 days 1,820 sqft
2024-01-01 72 days 1,821 sqft
2024-02-01 67 days 1,814 sqft
2024-03-01 64 days 1,819 sqft
Naples's median listing age (time on market) for 2024-03-01 was 64 days. This is 19% longer than the same period one year ago.

Naples's median square footage for active listings during the 2024-03-01 period was 1,819 sqft. One year prior, the average listing was 1,921 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).