Naples FHA Loans

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 128 lenders originated 1,833 FHA loans during 2021. The total origination value was $576,715,000, with an average FHA loan value of $314,629.

Naples FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Naples averaged 5.04% for the week of 2022-08-05, compared to the national average (all FHA variants) of 5.305% for the same period.

The average rate for the prior week (2022-07-29) was 5.49% and one month ago for the week of 2022-07-01, the average rate was 5.67%.

The average rate one year ago was 3.18%.

For refis of the same type during the week of 2022-08-05, the average rate was 4.91%.

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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Naples level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
CROSSCOUNTRY MORTGAGE, LLC 368 3.11% $11,765
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 126 3.13% $12,778
QUICKEN LOANS, LLC 110 2.65% $8,006
BROKER SOLUTIONS, INC. 87 3.23% $11,995
PENNYMAC LOAN SERVICES, LLC 72 3.06% $6,598
FREEDOM MORTGAGE CORPORATION 57 2.76% $7,793
UNITED WHOLESALE MORTGAGE, LLC 56 2.74% $10,883
LAKEVIEW LOAN SERVICING, LLC 51 2.93% $6,397
CALIBER HOME LOANS, INC. 48 2.85% $11,203
Paramount Residential Mortgage Group, Inc. 48 3.34% $12,753
Lakeview Community Capital, LLC 46 3.00% $5,828
Summit Mortgage Corporation 32 3.07% $11,972
PRIMARY RESIDENTIAL MORTGAGE, INC. 32 3.41% $12,843
GENEVA FINANCIAL, LLC 29 3.09% $11,906
EAGLE HOME MORTGAGE, LLC 27 3.23% $10,460
NEWREZ LLC 24 2.75% $9,941
MOVEMENT MORTGAGE, LLC 22 3.14% $9,919
Mr. Cooper ( Nationstar Mortgage ) 20 3.17% $5,533
DHI MORTGAGE COMPANY, LTD. 19 3.00% $8,940
AmeriHome Mortgage Company, LLC 17 2.80% $6,333
Carrington Mortgage Services, LLC 16 3.71% $10,232
LOANDEPOT.COM, LLC 14 3.01% $11,969
PULTE MORTGAGE LLC 13 3.22% $8,075
HAMILTON HOME LOANS, INC. 12 3.28% $11,790
ENVOY MORTGAGE, LTD 11 2.83% $12,087
AMERICAN FINANCIAL NETWORK, INC. 10 3.13% $19,771
PANORAMA MORTGAGE GROUP, LLC 10 3.38% $14,746
Flagstar Bank, FSB 10 2.87% $9,827
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 3.43% $11,559
VILLAGE CAPITAL & INVESTMENT LLC 8 2.67% $2,032
SUCCESS MORTGAGE PARTNERS, INC. 8 3.03% $12,260
First Horizon Bank 7 2.98% $11,924
FBC MORTGAGE, LLC 7 3.02% $9,437
MORTGAGE SOLUTIONS OF COLORADO, LLC 7 3.23% $12,490
HOME POINT FINANCIAL CORPORATION 6 2.65% $12,434
FINANCE OF AMERICA MORTGAGE LLC 6 3.10% $11,204
HOMESPIRE MORTGAGE CORPORATION 6 3.06% $11,484
InterContinental Capital Group, Inc 6 2.58% $8,608
MID AMERICA MORTGAGE, INC. 5 2.93% $7,326
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 2.80% $8,503
AMERICAN PACIFIC MORTGAGE CORPORATION 5 3.15% $14,761
PLANET HOME LENDING, LLC 4 2.69% $8,598
Equity Prime Mortgage LLC 4 3.38% $10,334
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 2.50% $6,984
TJC Mortgage, Inc. 4 2.75% $9,268
NORWICH COMMERCIAL GROUP, INC. 4 3.75% $12,468
AMCAP MORTGAGE, LTD. 4 3.41% $15,067
Bank of England 4 2.97% $12,039
PLAZA HOME MORTGAGE, INC. 4 2.78% $11,399
South State Bank 3 2.58% $9,935
VAN DYK MORTGAGE CORPORATION 3 3.46% $10,430
SECURITYNATIONAL MORTGAGE COMPANY 3 3.13% $11,282
HOMESIDE FINANCIAL, LLC 3 2.83% $10,199
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 3.21% $15,656
AMERISAVE MORTGAGE CORPORATION 3 2.88% $9,904
GUARANTEED RATE, INC. 3 2.92% $11,894
NATIONS RELIABLE LENDING, LLC 3 3.83% $11,457
LAKE MICHIGAN CREDIT UNION 3 2.75% $8,819
LENDUS, LLC 3 3.29% $9,442
COUNTRYPLACE MORTGAGE, LTD. 2 3.13% $12,111
MUTUAL OF OMAHA MORTGAGE, INC. 2 2.69% $11,195
NP, Inc. 2 2.56% $13,206
OCMBC, INC. 2 2.81% $8,771
BETTER MORTGAGE CORPORATION 2 2.56% $11,425
First Federal Bank 2 3.69% $9,911
First Guaranty Mortgage Corporation 2 2.63% $8,779
First Home Bank 2 3.44% $14,886
Truist Bank 2 2.58% $7,344
Valley National Bank 2 3.00% $9,847
GUARANTEED RATE AFFINITY, LLC 2 2.94% $10,009
GUILD MORTGAGE COMPANY 2 3.06% $7,919
HALLMARK HOME MORTGAGE, LLC 2 3.69% $20,961
AMERICAN FINANCING CORPORATION 2 2.38% $8,971
INLANTA MORTGAGE, INC. 2 2.88% $12,654
COLUMBUS CAPITAL LENDING, LLC 2 3.06% $16,651
MICHIGAN MUTUAL, INC. 2 3.19% $12,687
SOVEREIGN LENDING GROUP INCORPORATED 1 2.88% $7,754
A&D Mortgage LLC 1 3.00% $13,502
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 2.25% $11,971
Ameris Bank 1 2.50% $6,544
AmRes Corporation 1 2.88% $12,315
ARC HOME LLC 1 2.88% $22,009
Assurance Financial Group, L.L.C. 1 2.50% $10,468
BANKING MORTGAGE SERVICES, B.M.S. CORP. 1 3.13% $14,527
Bank of America 1 2.25% $13,574
Barrington Bank & Trust Company, N.A. 1 2.99% $7,906
Century Mortgage Company DBA Century Lending Company 1 3.38% $14,168
Citizens Bank 1 2.75% $9,740
Commerce Home Mortgage, Inc. 1 3.13% $9,741
CONTOUR MORTGAGE CORPORATION 1 2.63% $15,810
Eagle Bank and Trust Company 1 3.50% $10,824
EMM LOANS LLC 1 2.88% $12,895
ENDEAVOR CAPITAL, LLC. 1 2.38% $2,320
Fifth Third Bank 1 2.75% $10,940
FIRST CENTENNIAL MORTGAGE CORPORATION 1 3.25% $11,162
FIRST EQUITY MORTGAGE BANKERS, INC. 1 3.50% $14,419
Florida Capital Bank 1 2.38% $12,550
Gateway First Bank 1 4.00% $9,534
GERSHMAN INVESTMENT CORP. 1 3.50% $10,011
Hometown Equity Mortgage, LLC 1 3.50% $13,210
KELLER MORTGAGE, LLC 1 2.25% $7,577
LADERA LENDING, INC. 1 3.25% $7,484
LOANLEADERS OF AMERICA, INC. 1 2.75% $10,286
MATTAMY HOME FUNDING, LLC 1 2.38% $12,621
MDE Home Loans, LLC 1 2.88% $19,479
MILEND, INC. 1 2.38% $11,214
MLD MORTGAGE INC. 1 2.25% $7,547
MORTGAGE 1 INCORPORATED 1 2.99% $12,264
MORTGAGE EQUITY PARTNERS LLC 1 2.88% $9,062
NATIONS DIRECT MORTGAGE, LLC 1 2.75% $5,946
NBKC BANK 1 2.75% $13,274
Northpointe Bank 1 3.50% $13,679
OCEANSIDE MORTGAGE COMPANY 1 3.25% $9,566
OVM FINANCIAL, INC. 1 3.25% $12,216
Plains Commerce Bank 1 2.63% $12,741
Regions Bank 1 2.50% $10,775
Residential Mortgage Solutions, Inc. 1 3.25% $8,528
ROYAL UNITED MORTGAGE LLC 1 2.50% $14,866
SOUTHWEST FUNDING, LP 1 3.25% $10,623
ABSOLUTE HOME MORTGAGE CORPORATION 1 3.75% $13,282
STEARNS LENDING, LLC 1 2.75% $10,742
SUN WEST MORTGAGE COMPANY, INC. 1 2.88% $18,973
THE EQUITABLE MORTGAGE CORPORATION 1 2.75% $9,212
The Federal Savings Bank 1 2.88% $15,827
TOP FLITE FINANCIAL, INC. 1 3.25% $21,291
TOWNE MORTGAGE COMPANY 1 2.63% $10,932
U.S. Bank 1 2.25% $12,736
VANDERBILT MORTGAGE AND FINANCE, INC. 1 3.00% $10,658

The top Naples FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 368 FHA loans originated. Their average total fees are $11,765, which is $1,013 lower than the next largest lender, CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP.

The lowest fee Naples FHA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($5,533), Lakeview Community Capital, LLC ($5,828), AmeriHome Mortgage Company, LLC ($6,333), LAKEVIEW LOAN SERVICING, LLC ($6,397) and PENNYMAC LOAN SERVICES, LLC ($6,598).

The lowest rate Naples FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.65%), UNITED WHOLESALE MORTGAGE, LLC (2.74%), NEWREZ LLC (2.75%), FREEDOM MORTGAGE CORPORATION (2.76%) and AmeriHome Mortgage Company, LLC (2.80%).

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

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 $479,900 (-3.8%) $952,522 (-5.4%) 1.77 7,151
2018-02-01 $480,000 (-3.8%) $935,674 (-6.9%) 1.73 7,693
2018-03-01 $475,000 (-3.1%) $926,919 (-7.0%) 1.64 7,973
2018-04-01 $472,449 (-3.4%) $908,676 (-7.6%) 1.59 7,773
2018-05-01 $467,200 (-5.1%) $891,963 (-9.8%) 1.56 7,407
2018-06-01 $467,500 (-5.9%) $881,293 (-10.5%) 1.56 6,981
2018-07-01 $464,000 (-5.3%) $884,591 (-8.4%) 1.55 6,677
2018-08-01 $459,000 (-6.1%) $884,629 (-7.8%) 1.53 6,463
2018-09-01 $458,020 (-5.7%) $884,093 (-9.5%) 1.53 6,394
2018-10-01 $459,450 (-4.4%) $907,258 (-6.4%) 1.54 6,868
2018-11-01 $459,995 (-4.2%) $916,774 (-4.1%) 1.54 7,459
2018-12-01 $469,000 (-2.1%) $913,933 (-3.9%) 1.61 7,868
2019-01-01 $469,250 (-2.2%) $918,765 (-3.5%) 1.62 8,349
2019-02-01 $472,000 (-1.7%) $921,244 (-1.5%) 1.58 8,868
2019-03-01 $474,943 (0.0%) $926,853 (0.0%) 1.55 8,777
2019-04-01 $475,000 (0.5%) $924,532 (1.8%) 1.50 8,547
2019-05-01 $474,850 (1.6%) $918,831 (3.0%) 1.46 7,964
2019-06-01 $475,000 (1.6%) $930,207 (5.6%) 1.46 7,364
2019-07-01 $469,900 (1.3%) $908,369 (2.7%) 1.46 6,851
2019-08-01 $469,729 (2.3%) $905,683 (2.4%) 1.48 6,523
2019-09-01 $469,250 (2.5%) $896,556 (1.4%) 1.49 6,261
2019-10-01 $469,500 (2.2%) $916,871 (1.1%) 1.50 6,549
2019-11-01 $475,000 (3.3%) $946,006 (3.2%) 1.53 6,750
2019-12-01 $484,500 (3.3%) $956,458 (4.7%) 1.62 6,895
2020-01-01 $499,000 (6.3%) $1,017,990 (10.8%) 1.66 6,492
2020-02-01 $499,500 (5.8%) $1,015,914 (10.3%) 1.61 6,512
2020-03-01 $499,752 (5.2%) $1,024,143 (10.5%) 1.56 6,480
2020-04-01 $496,995 (4.6%) $1,000,556 (8.2%) 1.55 6,341
2020-05-01 $495,000 (4.2%) $1,021,011 (11.1%) 1.50 5,989
2020-06-01 $499,000 (5.1%) $1,034,482 (11.2%) 1.46 5,610
2020-07-01 $496,950 (5.8%) $1,036,876 (14.2%) 1.42 5,342
2020-08-01 $499,000 (6.2%) $1,043,784 (15.3%) 1.43 5,135
2020-09-01 $499,900 (6.5%) $1,072,715 (19.7%) 1.43 4,835
2020-10-01 $499,000 (6.3%) $1,071,995 (16.9%) 1.43 4,623
2020-11-01 $499,000 (5.1%) $1,095,677 (15.8%) 1.43 4,327
2020-12-01 $499,000 (3.0%) $1,105,540 (15.6%) 1.46 4,011
2021-01-01 $499,000 (0.0%) $1,139,711 (12.0%) 1.47 3,476
2021-02-01 $522,450 (4.6%) $1,152,060 (13.4%) 1.50 2,598
2021-03-01 $580,000 (16.1%) $1,275,355 (24.5%) 1.63 1,952
2021-04-01 $611,500 (23.0%) $1,365,530 (36.5%) 1.64 1,602
2021-05-01 $649,500 (31.2%) $1,463,429 (43.3%) 1.71 1,373
2021-06-01 $659,500 (32.2%) $1,536,036 (48.5%) 1.71 1,355
2021-07-01 $684,495 (37.7%) $1,558,912 (50.4%) 1.78 1,420
2021-08-01 $689,000 (38.1%) $1,562,054 (49.7%) 1.81 1,454
2021-09-01 $699,000 (39.8%) $1,636,667 (52.6%) 1.84 1,407
2021-10-01 $729,900 (46.3%) $1,687,699 (57.4%) 1.92 1,399
2021-11-01 $767,000 (53.7%) $1,767,935 (61.4%) 2.02 1,364
2021-12-01 $754,950 (51.3%) $1,821,457 (64.8%) 2.01 1,269
2022-01-01 $795,000 (59.3%) $1,907,187 (67.3%) 2.12 1,158
2022-02-01 $799,500 (53.0%) $1,965,639 (70.6%) 2.04 1,103
2022-03-01 $825,000 (42.2%) $1,876,483 (47.1%) 2.04 1,299
2022-04-01 $875,000 (43.1%) $1,858,832 (36.1%) 2.06 1,658
2022-05-01 $849,000 (30.7%) $1,742,648 (19.1%) 1.90 2,106
2022-06-01 $825,000 (25.1%) $1,694,613 (10.3%) 1.83 2,523
Naples's median listing price for 2022-06-01 was $825,000, a difference of $165,500 (25.1%) versus the prior year and $-24,000 versus the prior month.

Naples's median listing price comes in at 183% of the national average.

Naples's average listing price for 2022-06-01 was $1,694,613, a difference of $158,577 (10.3%) versus the prior year and $-48,035 versus the prior month.

For the 2022-06-01 period, Naples had 2,523 MLS listings, a difference of 417 listings (20%) versus the prior month and 1,168 listings (86%) 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 1,978 sqft
2018-02-01 88 days 1,953 sqft
2018-03-01 85 days 1,935 sqft
2018-04-01 91 days 1,913 sqft
2018-05-01 97 days 1,893 sqft
2018-06-01 106 days 1,900 sqft
2018-07-01 114 days 1,900 sqft
2018-08-01 119 days 1,904 sqft
2018-09-01 122 days 1,901 sqft
2018-10-01 115 days 1,901 sqft
2018-11-01 103 days 1,898 sqft
2018-12-01 99 days 1,883 sqft
2019-01-01 97 days 1,880 sqft
2019-02-01 95 days 1,883 sqft
2019-03-01 92 days 1,883 sqft
2019-04-01 93 days 1,882 sqft
2019-05-01 101 days 1,877 sqft
2019-06-01 109 days 1,883 sqft
2019-07-01 116 days 1,880 sqft
2019-08-01 123 days 1,882 sqft
2019-09-01 123 days 1,883 sqft
2019-10-01 109 days 1,892 sqft
2019-11-01 93 days 1,900 sqft
2019-12-01 89 days 1,897 sqft
2020-01-01 90 days 1,956 sqft
2020-02-01 89 days 1,959 sqft
2020-03-01 81 days 1,956 sqft
2020-04-01 91 days 1,935 sqft
2020-05-01 103 days 1,929 sqft
2020-06-01 111 days 1,932 sqft
2020-07-01 115 days 1,904 sqft
2020-08-01 98 days 1,853 sqft
2020-09-01 95 days 1,849 sqft
2020-10-01 86 days 1,831 sqft
2020-11-01 73 days 1,835 sqft
2020-12-01 76 days 1,818 sqft
2021-01-01 77 days 1,800 sqft
2021-02-01 69 days 1,809 sqft
2021-03-01 50 days 1,858 sqft
2021-04-01 44 days 1,872 sqft
2021-05-01 44 days 1,912 sqft
2021-06-01 44 days 1,941 sqft
2021-07-01 45 days 1,933 sqft
2021-08-01 48 days 1,905 sqft
2021-09-01 50 days 1,937 sqft
2021-10-01 49 days 1,985 sqft
2021-11-01 47 days 2,009 sqft
2021-12-01 40 days 1,999 sqft
2022-01-01 50 days 1,964 sqft
2022-02-01 37 days 1,935 sqft
2022-03-01 32 days 1,921 sqft
2022-04-01 31 days 1,911 sqft
2022-05-01 35 days 1,891 sqft
2022-06-01 39 days 1,878 sqft
Naples's median listing age (time on market) for 2022-06-01 was 39 days. This is -10% shorter than the same period one year ago.

Naples's median square footage for active listings during the 2022-06-01 period was 1,878 sqft. One year prior, the average listing was 1,941 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).