North Vernon FHA Loan Rates, Closing Costs & Stats
North Vernon, 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.
North Vernon's 25 lenders originated 74 FHA loans during 2023. The total origination value was $12,910,000, with an average FHA loan value of $174,459.
North Vernon FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in North Vernon
averaged
0.31%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
North Vernon's average FHA mortgage closing costs are $5,844.
The average rate for the prior week (2024-11-22) was
6.5% and
one month ago for the week of 2024-10-25, the
average rate was 6.48%.
The average rate one year ago was 7.47%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.1%.
North Vernon 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 North Vernon level.
The top North Vernon FHA lender as defined by loan originations is GVC MORTGAGE, INC., with
13 FHA loans originated. Their average total fees are
$7,914, which is $297
higher than the next largest lender,
Wolfe Financial, Inc.
The lowest fee North Vernon FHA lenders (with over 10 loans originated) are
GVC MORTGAGE, INC. ($7,914), .
The lowest rate North Vernon FHA lenders (with over 10 loans originated) are
GVC MORTGAGE, INC. (7.25%), .
North Vernon FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
NORTH VERNON, IN | JENNINGS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
NORTH VERNON, IN | JENNINGS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - North Vernon (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 | $99,475 (7.0%) | $116,076 (-9.7%) | 0.00 | 37 |
2018-02-01 | $99,900 (11.4%) | $120,717 (-0.3%) | 0.00 | 35 |
2018-03-01 | $104,750 (23.4%) | $122,652 (3.1%) | 0.00 | 34 |
2018-04-01 | $104,550 (24.1%) | $127,434 (5.0%) | 0.00 | 35 |
2018-05-01 | $109,950 (31.3%) | $131,320 (6.3%) | 0.00 | 42 |
2018-06-01 | $129,900 (46.0%) | $140,812 (6.0%) | 0.00 | 43 |
2018-07-01 | $116,750 (23.0%) | $139,819 (9.3%) | 0.00 | 39 |
2018-08-01 | $119,825 (21.1%) | $136,117 (3.5%) | 0.00 | 43 |
2018-09-01 | $124,700 (26.1%) | $146,158 (13.2%) | 0.00 | 46 |
2018-10-01 | $123,250 (25.5%) | $146,607 (19.2%) | 0.00 | 46 |
2018-11-01 | $124,700 (30.3%) | $150,319 (24.4%) | 0.00 | 41 |
2018-12-01 | $132,200 (33.6%) | $154,611 (21.4%) | 0.00 | 35 |
2019-01-01 | $142,175 (42.9%) | $165,532 (42.6%) | 0.00 | 32 |
2019-02-01 | $141,150 (41.3%) | $173,291 (43.6%) | 0.00 | 31 |
2019-03-01 | $133,850 (27.8%) | $168,606 (37.5%) | 0.00 | 34 |
2019-04-01 | $132,400 (26.6%) | $162,763 (27.7%) | 0.00 | 40 |
2019-05-01 | $138,975 (26.4%) | $160,922 (22.5%) | 0.00 | 47 |
2019-06-01 | $156,950 (20.8%) | $159,231 (13.1%) | 0.00 | 49 |
2019-07-01 | $143,475 (22.9%) | $168,686 (20.7%) | 0.00 | 46 |
2019-08-01 | $158,991 (32.7%) | $170,465 (25.2%) | 0.00 | 52 |
2019-09-01 | $142,627 (14.4%) | $165,054 (12.9%) | 0.00 | 59 |
2019-10-01 | $134,193 (8.9%) | $166,493 (13.6%) | 0.00 | 59 |
2019-11-01 | $139,900 (12.2%) | $173,619 (15.5%) | 0.00 | 46 |
2019-12-01 | $152,425 (15.3%) | $176,329 (14.1%) | 0.00 | 43 |
2020-01-01 | $129,675 (-8.8%) | $169,788 (2.6%) | 0.00 | 39 |
2020-02-01 | $151,000 (7.0%) | $177,271 (2.3%) | 0.00 | 34 |
2020-03-01 | $126,125 (-5.8%) | $160,706 (-4.7%) | 0.00 | 34 |
2020-04-01 | $133,650 (0.9%) | $167,374 (2.8%) | 0.00 | 31 |
2020-05-01 | $129,900 (-6.5%) | $179,962 (11.8%) | 0.00 | 23 |
2020-06-01 | $122,925 (-21.7%) | $184,393 (15.8%) | 0.00 | 24 |
2020-07-01 | $166,400 (16.0%) | $259,758 (54.0%) | 0.00 | 22 |
2020-08-01 | $169,000 (6.3%) | $256,975 (50.8%) | 0.00 | 24 |
2020-09-01 | $171,425 (20.2%) | $258,183 (56.4%) | 0.00 | 28 |
2020-10-01 | $194,900 (45.2%) | $251,651 (51.2%) | 0.00 | 29 |
2020-11-01 | $194,900 (39.3%) | $199,104 (14.7%) | 0.00 | 30 |
2020-12-01 | $168,000 (10.2%) | $182,725 (3.6%) | 0.00 | 27 |
2021-01-01 | $160,000 (23.4%) | $183,627 (8.2%) | 0.00 | 25 |
2021-02-01 | $139,325 (-7.7%) | $167,849 (-5.3%) | 0.00 | 21 |
2021-03-01 | $159,875 (26.8%) | $173,987 (8.3%) | 0.00 | 17 |
2021-04-01 | $134,750 (0.8%) | $162,219 (-3.1%) | 0.00 | 16 |
2021-05-01 | $126,250 (-2.8%) | $161,345 (-10.3%) | 0.00 | 15 |
2021-06-01 | $145,350 (18.2%) | $186,956 (1.4%) | 0.00 | 15 |
2021-07-01 | $162,500 (-2.3%) | $215,306 (-17.1%) | 0.00 | 15 |
2021-08-01 | $184,950 (9.4%) | $231,614 (-9.9%) | 0.00 | 22 |
2021-09-01 | $177,400 (3.5%) | $220,158 (-14.7%) | 0.00 | 27 |
2021-10-01 | $169,900 (-12.8%) | $201,439 (-20.0%) | 0.00 | 25 |
2021-11-01 | $148,150 (-24.0%) | $189,139 (-5.0%) | 0.00 | 27 |
2021-12-01 | $154,900 (-7.8%) | $193,599 (6.0%) | 0.00 | 25 |
2022-01-01 | $179,900 (12.4%) | $187,615 (2.2%) | 0.00 | 22 |
2022-02-01 | $169,900 (22.0%) | $205,140 (22.2%) | 0.00 | 18 |
2022-03-01 | $156,400 (-2.2%) | $201,808 (16.0%) | 0.00 | 14 |
2022-04-01 | $124,900 (-7.3%) | $165,017 (1.7%) | 0.00 | 13 |
2022-05-01 | $203,725 (61.4%) | $215,940 (33.8%) | 0.00 | 15 |
2022-06-01 | $239,000 (64.4%) | $241,448 (29.2%) | 0.00 | 22 |
2022-07-01 | $229,900 (41.5%) | $245,678 (14.1%) | 0.00 | 27 |
2022-08-01 | $238,150 (28.8%) | $276,409 (19.3%) | 0.00 | 30 |
2022-09-01 | $266,213 (50.1%) | $285,980 (29.9%) | 0.00 | 29 |
2022-10-01 | $259,900 (53.0%) | $267,766 (32.9%) | 0.00 | 28 |
2022-11-01 | $247,450 (67.0%) | $295,014 (56.0%) | 0.00 | 27 |
2022-12-01 | $247,500 (59.8%) | $303,207 (56.6%) | 0.00 | 22 |
2023-01-01 | $200,000 (11.2%) | $265,360 (41.4%) | 0.00 | 22 |
2023-02-01 | $205,000 (20.7%) | $269,435 (31.3%) | 0.00 | 18 |
2023-03-01 | $207,400 (32.6%) | $277,088 (37.3%) | 0.00 | 15 |
2023-04-01 | $207,450 (66.1%) | $286,561 (73.7%) | 0.00 | 13 |
2023-05-01 | $206,225 (1.2%) | $253,220 (17.3%) | 0.00 | 20 |
2023-06-01 | $189,925 (-20.5%) | $229,736 (-4.9%) | 0.00 | 21 |
2023-07-01 | $179,900 (-21.8%) | $225,915 (-8.0%) | 0.00 | 15 |
2023-08-01 | $189,950 (-20.2%) | $220,685 (-20.2%) | 0.00 | 21 |
2023-09-01 | $194,450 (-27.0%) | $236,824 (-17.2%) | 0.00 | 34 |
2023-10-01 | $194,950 (-25.0%) | $260,669 (-2.7%) | 0.00 | 42 |
2023-11-01 | $211,175 (-14.7%) | $279,947 (-5.1%) | 0.00 | 30 |
2023-12-01 | $219,900 (-11.2%) | $289,490 (-4.5%) | 0.00 | 35 |
2024-01-01 | $207,425 (3.7%) | $281,418 (6.1%) | 0.00 | 33 |
2024-02-01 | $235,500 (14.9%) | $290,174 (7.7%) | 0.00 | 31 |
2024-03-01 | $224,500 (8.2%) | $293,932 (6.1%) | 0.00 | 32 |
2024-04-01 | $259,150 (24.9%) | $310,639 (8.4%) | 0.00 | 25 |
2024-05-01 | $277,400 (34.5%) | $329,435 (30.1%) | 0.00 | 29 |
2024-06-01 | $274,900 (44.7%) | $332,197 (44.6%) | 0.00 | 38 |
2024-07-01 | $266,175 (48.0%) | $308,247 (36.4%) | 0.00 | 45 |
2024-08-01 | $254,900 (34.2%) | $264,727 (20.0%) | 0.00 | 43 |
2024-09-01 | $226,700 (16.6%) | $250,357 (5.7%) | 0.00 | 42 |
2024-10-01 | $258,025 (32.4%) | $264,680 (1.5%) | 0.00 | 50 |
North Vernon's median listing price comes in at 0% of the national average.
North Vernon's average listing price for 2024-10-01 was $264,680, a difference of $4,011 (1.5%) versus the prior year and $14,323 versus the prior month.
For the 2024-10-01 period, North Vernon had 50 MLS listings, a difference of 8 listings (19%) versus the prior month and 8 listings (19%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - North Vernon (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,873 sqft |
2018-02-01 | 0 days | 1,898 sqft |
2018-03-01 | 0 days | 1,944 sqft |
2018-04-01 | 0 days | 1,752 sqft |
2018-05-01 | 0 days | 1,754 sqft |
2018-06-01 | 0 days | 1,782 sqft |
2018-07-01 | 0 days | 1,852 sqft |
2018-08-01 | 0 days | 1,886 sqft |
2018-09-01 | 0 days | 1,863 sqft |
2018-10-01 | 0 days | 1,770 sqft |
2018-11-01 | 0 days | 1,803 sqft |
2018-12-01 | 0 days | 1,896 sqft |
2019-01-01 | 0 days | 1,957 sqft |
2019-02-01 | 0 days | 1,892 sqft |
2019-03-01 | 0 days | 1,915 sqft |
2019-04-01 | 0 days | 1,941 sqft |
2019-05-01 | 0 days | 1,872 sqft |
2019-06-01 | 0 days | 1,886 sqft |
2019-07-01 | 0 days | 1,924 sqft |
2019-08-01 | 0 days | 1,925 sqft |
2019-09-01 | 0 days | 1,916 sqft |
2019-10-01 | 0 days | 1,904 sqft |
2019-11-01 | 0 days | 1,852 sqft |
2019-12-01 | 0 days | 1,920 sqft |
2020-01-01 | 0 days | 1,845 sqft |
2020-02-01 | 0 days | 1,884 sqft |
2020-03-01 | 0 days | 1,768 sqft |
2020-04-01 | 0 days | 1,732 sqft |
2020-05-01 | 0 days | 1,748 sqft |
2020-06-01 | 0 days | 1,841 sqft |
2020-07-01 | 0 days | 1,991 sqft |
2020-08-01 | 0 days | 1,903 sqft |
2020-09-01 | 0 days | 1,839 sqft |
2020-10-01 | 0 days | 1,840 sqft |
2020-11-01 | 0 days | 1,755 sqft |
2020-12-01 | 0 days | 1,829 sqft |
2021-01-01 | 0 days | 1,998 sqft |
2021-02-01 | 0 days | 1,967 sqft |
2021-03-01 | 0 days | 1,690 sqft |
2021-04-01 | 0 days | 1,736 sqft |
2021-05-01 | 0 days | 1,632 sqft |
2021-06-01 | 0 days | 1,685 sqft |
2021-07-01 | 0 days | 1,900 sqft |
2021-08-01 | 0 days | 1,804 sqft |
2021-09-01 | 0 days | 1,849 sqft |
2021-10-01 | 0 days | 1,702 sqft |
2021-11-01 | 0 days | 1,477 sqft |
2021-12-01 | 0 days | 1,536 sqft |
2022-01-01 | 0 days | 1,548 sqft |
2022-02-01 | 0 days | 1,561 sqft |
2022-03-01 | 0 days | 1,716 sqft |
2022-04-01 | 0 days | 1,554 sqft |
2022-05-01 | 0 days | 1,583 sqft |
2022-06-01 | 0 days | 1,741 sqft |
2022-07-01 | 0 days | 1,676 sqft |
2022-08-01 | 0 days | 1,866 sqft |
2022-09-01 | 0 days | 1,946 sqft |
2022-10-01 | 0 days | 1,833 sqft |
2022-11-01 | 0 days | 1,835 sqft |
2022-12-01 | 0 days | 1,812 sqft |
2023-01-01 | 0 days | 1,583 sqft |
2023-02-01 | 0 days | 1,518 sqft |
2023-03-01 | 0 days | 1,500 sqft |
2023-04-01 | 0 days | 1,628 sqft |
2023-05-01 | 0 days | 1,549 sqft |
2023-06-01 | 0 days | 1,507 sqft |
2023-07-01 | 0 days | 1,506 sqft |
2023-08-01 | 0 days | 1,520 sqft |
2023-09-01 | 0 days | 1,486 sqft |
2023-10-01 | 0 days | 1,496 sqft |
2023-11-01 | 0 days | 1,622 sqft |
2023-12-01 | 0 days | 1,792 sqft |
2024-01-01 | 0 days | 1,897 sqft |
2024-02-01 | 0 days | 2,221 sqft |
2024-03-01 | 0 days | 1,836 sqft |
2024-04-01 | 0 days | 2,093 sqft |
2024-05-01 | 0 days | 2,157 sqft |
2024-06-01 | 0 days | 2,218 sqft |
2024-07-01 | 0 days | 1,753 sqft |
2024-08-01 | 0 days | 1,582 sqft |
2024-09-01 | 0 days | 1,551 sqft |
2024-10-01 | 0 days | 1,586 sqft |
North Vernon's median square footage for active listings during the 2024-10-01 period was 1,586 sqft. One year prior, the average listing was 1,496 sqft.