Okeechobee FHA Loan Rates, Closing Costs & Stats

Okeechobee, FL

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    • 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.

    Okeechobee's 56 lenders originated 168 FHA loans during 2024. The total origination value was $42,640,000, with an average FHA loan value of $253,810.

    Okeechobee FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Okeechobee averaged 6.38% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Okeechobee's average FHA mortgage closing costs are $9,105.

    The average rate for the prior week (2025-03-28) was 6.68% and one month ago for the week of 2025-02-28, the average rate was 6.46%.

    The average rate one year ago was 6.68%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.36%.

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

    Okeechobee 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 Okeechobee level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 33 6.31% $12,818
    FREEDOM MORTGAGE CORPORATION 9 6.21% $12,902
    QUICKEN LOANS, LLC 9 6.53% $12,056
    CROSSCOUNTRY MORTGAGE, LLC 8 6.56% $12,078
    LOANDEPOT.COM, LLC 5 6.60% $10,269
    GENEVA FINANCIAL, LLC 5 6.70% $10,380
    EVERETT FINANCIAL, INC. 4 7.31% $12,699
    THE MORTGAGE FIRM, INC. 4 6.78% $10,403
    TOWNE MORTGAGE COMPANY 3 6.66% $9,882
    MID AMERICA MORTGAGE, INC. 3 6.08% $7,460
    GERSHMAN INVESTMENT CORP. 2 6.69% $11,087
    Equity Prime Mortgage LLC 2 7.00% $10,583
    PENNYMAC LOAN SERVICES, LLC 2 6.56% $11,372
    PNC Bank 2 6.75% $8,750
    BROKER SOLUTIONS, INC. 2 7.44% $12,918
    LEADERONE FINANCIAL CORPORATION 2 6.87% $10,431
    LOANPAL, LLC 2 5.75% $9,246
    EMM LOANS LLC 2 6.00% $11,631
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.75% $9,133
    GUARANTEED RATE AFFINITY, LLC 1 7.25% $17,356
    GUARANTEED RATE, INC. 1 5.99% $10,934
    GUILD MORTGAGE COMPANY 1 6.75% $11,876
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $13,143
    METROPLEX MORTGAGE SERVICES, INC. 1 7.25% $8,915
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $13,451
    NEWREZ LLC 1 6.75% $15,108
    Northpointe Bank 1 6.50% $15,705
    Paramount Residential Mortgage Group, Inc. 1 6.25% $13,876
    Plains Commerce Bank 1 6.25% $22,108
    PLANET HOME LENDING, LLC 1 7.13% $12,037
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $0
    Prosperity Home Mortgage, LLC 1 6.25% $5,912
    Seacoast National Bank 1 5.88% $10,857
    South State Bank 1 5.75% $12,188
    STOCKTON MORTGAGE CORPORATION 1 7.00% $10,056
    SWBC MORTGAGE CORPORATION 1 7.13% $5,066
    UNITED MORTGAGE CORP 1 6.63% $20,022
    ABSOLUTE HOME MORTGAGE CORPORATION 1 6.75% $11,487
    VILLAGE CAPITAL MORTGAGE 1 5.75% $11,658
    ACOPIA, LLC 1 6.75% $7,818
    ALKAN MORTGAGE CORPORATION 1 6.75% $18,378
    AMERICAN BANCSHARES MORTGAGE 1 5.63% $16,049
    AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $9,823
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.50% $12,875
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.88% $19,513
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $34,532
    Bank of America 1 6.50% $8,536
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.75% $12,995
    CARDINAL FINANCIAL 1 6.75% $12,917
    Carrington Mortgage Services, LLC 1 6.13% $8,970
    CASTLE & COOKE MORTGAGE, LLC 1 6.75% $14,115
    City National Bank of Florida 1 6.63% $9,664
    Cornerstone First Mortgage, Inc 1 6.13% $11,963
    DIRECT MORTGAGE LOANS, LLC 1 6.13% $13,349
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $17,655
    First Federal Bank 1 7.50% $13,410

    The top Okeechobee FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 33 FHA loans originated. Their average total fees are $12,818, which is $84 lower than the next largest lender, FREEDOM MORTGAGE CORPORATION.

    The lowest fee Okeechobee FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($12,818), .

    The lowest rate Okeechobee FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.31%), .

    Okeechobee FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    OKEECHOBEE, FL OKEECHOBEE 2022 $420,680 $538,650 $651,050 $809,150
    OKEECHOBEE, FL OKEECHOBEE 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Okeechobee (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 $140,000 (-4.8%) $217,763 (7.7%) 0.00 137
    2018-02-01 $127,450 (-2.9%) $204,560 (6.7%) 0.00 138
    2018-03-01 $130,950 (0.8%) $197,277 (5.5%) 0.00 127
    2018-04-01 $119,900 (-17.3%) $193,044 (-1.0%) 0.00 129
    2018-05-01 $122,175 (-12.2%) $213,689 (9.9%) 0.00 140
    2018-06-01 $159,000 (14.0%) $245,870 (24.7%) 0.00 141
    2018-07-01 $164,750 (18.1%) $252,474 (34.6%) 0.00 144
    2018-08-01 $160,725 (7.9%) $227,631 (17.9%) 0.00 145
    2018-09-01 $169,750 (13.9%) $223,236 (6.2%) 0.00 157
    2018-10-01 $167,600 (10.3%) $217,643 (-1.7%) 0.00 158
    2018-11-01 $169,750 (21.5%) $220,086 (1.2%) 0.00 167
    2018-12-01 $172,250 (23.3%) $231,475 (8.0%) 0.00 166
    2019-01-01 $181,975 (30.0%) $233,411 (7.2%) 0.00 175
    2019-02-01 $187,250 (46.9%) $230,772 (12.8%) 0.00 167
    2019-03-01 $184,521 (40.9%) $237,646 (20.5%) 0.00 179
    2019-04-01 $191,675 (59.9%) $259,528 (34.4%) 0.00 182
    2019-05-01 $225,000 (84.2%) $311,849 (45.9%) 0.00 134
    2019-06-01 $221,500 (39.3%) $289,582 (17.8%) 0.00 140
    2019-07-01 $219,900 (33.5%) $266,914 (5.7%) 0.00 135
    2019-08-01 $220,336 (37.1%) $260,170 (14.3%) 0.00 135
    2019-09-01 $220,991 (30.2%) $258,508 (15.8%) 0.00 138
    2019-10-01 $221,427 (32.1%) $257,400 (18.3%) 0.00 140
    2019-11-01 $222,000 (30.8%) $261,835 (19.0%) 0.00 151
    2019-12-01 $226,225 (31.3%) $271,171 (17.2%) 0.00 149
    2020-01-01 $234,000 (28.6%) $284,596 (21.9%) 0.00 144
    2020-02-01 $230,000 (22.8%) $276,487 (19.8%) 0.00 142
    2020-03-01 $230,000 (24.7%) $272,984 (14.9%) 0.00 131
    2020-04-01 $229,975 (20.0%) $257,405 (-0.8%) 0.00 137
    2020-05-01 $232,500 (3.3%) $466,453 (49.6%) 0.00 119
    2020-06-01 $229,450 (3.6%) $480,169 (65.8%) 0.00 110
    2020-07-01 $229,000 (4.1%) $513,991 (92.6%) 0.00 100
    2020-08-01 $217,500 (-1.3%) $527,499 (102.8%) 0.00 92
    2020-09-01 $211,750 (-4.2%) $560,751 (116.9%) 0.00 88
    2020-10-01 $229,500 (3.7%) $592,750 (130.3%) 0.00 82
    2020-11-01 $244,975 (10.4%) $591,353 (125.9%) 0.00 88
    2020-12-01 $245,500 (8.5%) $593,863 (119.0%) 0.00 93
    2021-01-01 $229,900 (-1.8%) $614,796 (116.0%) 0.00 84
    2021-02-01 $249,250 (8.4%) $650,437 (135.3%) 0.00 80
    2021-03-01 $255,000 (10.9%) $364,576 (33.6%) 0.00 78
    2021-04-01 $252,500 (9.8%) $365,907 (42.2%) 0.00 58
    2021-05-01 $249,900 (7.5%) $363,264 (-22.1%) 0.00 60
    2021-06-01 $247,450 (7.8%) $604,566 (25.9%) 0.00 61
    2021-07-01 $259,500 (13.3%) $600,074 (16.8%) 0.00 63
    2021-08-01 $289,750 (33.2%) $608,168 (15.3%) 0.00 72
    2021-09-01 $295,750 (39.7%) $593,636 (5.9%) 0.00 84
    2021-10-01 $332,000 (44.7%) $655,288 (10.6%) 0.00 69
    2021-11-01 $350,000 (42.9%) $725,024 (22.6%) 0.00 61
    2021-12-01 $386,667 (57.5%) $719,032 (21.1%) 0.00 63
    2022-01-01 $385,000 (67.5%) $779,674 (26.8%) 0.00 58
    2022-02-01 $383,850 (54.0%) $831,856 (27.9%) 0.00 49
    2022-03-01 $386,975 (51.8%) $929,324 (154.9%) 0.00 42
    2022-04-01 $394,950 (56.4%) $950,736 (159.8%) 0.00 36
    2022-05-01 $396,213 (58.6%) $776,007 (113.6%) 0.00 53
    2022-06-01 $369,000 (49.1%) $676,876 (12.0%) 0.00 69
    2022-07-01 $349,000 (34.5%) $618,163 (3.0%) 0.00 89
    2022-08-01 $353,950 (22.2%) $592,503 (-2.6%) 0.00 96
    2022-09-01 $347,850 (17.6%) $587,307 (-1.1%) 0.00 103
    2022-10-01 $342,850 (3.3%) $607,318 (-7.3%) 0.00 110
    2022-11-01 $323,475 (-7.6%) $572,985 (-21.0%) 0.00 118
    2022-12-01 $306,000 (-20.9%) $429,283 (-40.3%) 0.00 110
    2023-01-01 $319,725 (-17.0%) $488,864 (-37.3%) 0.00 111
    2023-02-01 $324,475 (-15.5%) $564,747 (-32.1%) 0.00 112
    2023-03-01 $325,000 (-16.0%) $585,732 (-37.0%) 0.00 100
    2023-04-01 $299,900 (-24.1%) $564,089 (-40.7%) 0.00 97
    2023-05-01 $344,250 (-13.1%) $613,255 (-21.0%) 0.00 92
    2023-06-01 $335,938 (-9.0%) $609,350 (-10.0%) 0.00 94
    2023-07-01 $349,000 (0.0%) $589,265 (-4.7%) 0.00 103
    2023-08-01 $349,000 (-1.4%) $530,469 (-10.5%) 0.00 106
    2023-09-01 $320,000 (-8.0%) $582,511 (-0.8%) 0.00 118
    2023-10-01 $349,450 (1.9%) $775,398 (27.7%) 0.00 108
    2023-11-01 $343,725 (6.3%) $814,947 (42.2%) 0.00 107
    2023-12-01 $335,000 (9.5%) $821,500 (91.4%) 0.00 118
    2024-01-01 $366,950 (14.8%) $800,975 (63.8%) 0.00 124
    2024-02-01 $372,450 (14.8%) $818,672 (45.0%) 0.00 117
    2024-03-01 $352,500 (8.5%) $791,067 (35.1%) 0.00 120
    2024-04-01 $341,500 (13.9%) $770,579 (36.6%) 0.00 121
    2024-05-01 $349,675 (1.6%) $794,559 (29.6%) 0.00 116
    2024-06-01 $347,000 (3.3%) $780,652 (28.1%) 0.00 109
    2024-07-01 $349,000 (0.0%) $653,328 (10.9%) 0.00 114
    2024-08-01 $349,450 (0.1%) $647,572 (22.1%) 0.00 118
    2024-09-01 $349,500 (9.2%) $715,729 (22.9%) 0.00 129
    2024-10-01 $350,000 (0.2%) $747,886 (-3.6%) 0.00 130
    2024-11-01 $349,000 (1.5%) $710,135 (-12.9%) 0.00 145
    2024-12-01 $349,750 (4.4%) $700,511 (-14.7%) 0.00 159
    2025-01-01 $349,700 (-4.7%) $720,904 (-10.0%) 0.00 143
    2025-02-01 $349,413 (-6.2%) $689,578 (-15.8%) 0.00 153
    2025-03-01 $339,000 (-3.8%) $624,555 (-21.1%) 0.00 173
    Okeechobee's median listing price for 2025-03-01 was $339,000, a difference of $-13,500 (-3.8%) versus the prior year and $-10,413 versus the prior month.

    Okeechobee's median listing price comes in at 0% of the national average.

    Okeechobee's average listing price for 2025-03-01 was $624,555, a difference of $-166,512 (-21.1%) versus the prior year and $-65,023 versus the prior month.

    For the 2025-03-01 period, Okeechobee had 173 MLS listings, a difference of 20 listings (13%) versus the prior month and 53 listings (44%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Okeechobee (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,286 sqft
    2018-02-01 0 days 1,210 sqft
    2018-03-01 0 days 1,204 sqft
    2018-04-01 0 days 1,200 sqft
    2018-05-01 0 days 1,233 sqft
    2018-06-01 0 days 1,368 sqft
    2018-07-01 0 days 1,499 sqft
    2018-08-01 0 days 1,469 sqft
    2018-09-01 0 days 1,502 sqft
    2018-10-01 0 days 1,480 sqft
    2018-11-01 0 days 1,511 sqft
    2018-12-01 0 days 1,498 sqft
    2019-01-01 0 days 1,491 sqft
    2019-02-01 0 days 1,468 sqft
    2019-03-01 0 days 1,481 sqft
    2019-04-01 0 days 1,522 sqft
    2019-05-01 0 days 1,692 sqft
    2019-06-01 0 days 1,666 sqft
    2019-07-01 0 days 1,635 sqft
    2019-08-01 0 days 1,642 sqft
    2019-09-01 0 days 1,679 sqft
    2019-10-01 0 days 1,703 sqft
    2019-11-01 0 days 1,651 sqft
    2019-12-01 0 days 1,624 sqft
    2020-01-01 0 days 1,688 sqft
    2020-02-01 0 days 1,688 sqft
    2020-03-01 0 days 1,666 sqft
    2020-04-01 0 days 1,568 sqft
    2020-05-01 0 days 1,539 sqft
    2020-06-01 0 days 1,509 sqft
    2020-07-01 0 days 1,497 sqft
    2020-08-01 0 days 1,482 sqft
    2020-09-01 0 days 1,485 sqft
    2020-10-01 0 days 1,582 sqft
    2020-11-01 0 days 1,609 sqft
    2020-12-01 0 days 1,759 sqft
    2021-01-01 0 days 1,710 sqft
    2021-02-01 0 days 1,801 sqft
    2021-03-01 0 days 1,808 sqft
    2021-04-01 0 days 1,794 sqft
    2021-05-01 0 days 1,704 sqft
    2021-06-01 0 days 1,685 sqft
    2021-07-01 0 days 1,745 sqft
    2021-08-01 0 days 1,787 sqft
    2021-09-01 0 days 1,772 sqft
    2021-10-01 0 days 1,880 sqft
    2021-11-01 0 days 1,971 sqft
    2021-12-01 0 days 1,910 sqft
    2022-01-01 0 days 1,868 sqft
    2022-02-01 0 days 1,843 sqft
    2022-03-01 0 days 1,790 sqft
    2022-04-01 0 days 1,780 sqft
    2022-05-01 0 days 1,643 sqft
    2022-06-01 0 days 1,549 sqft
    2022-07-01 0 days 1,542 sqft
    2022-08-01 0 days 1,654 sqft
    2022-09-01 0 days 1,642 sqft
    2022-10-01 0 days 1,548 sqft
    2022-11-01 0 days 1,491 sqft
    2022-12-01 0 days 1,500 sqft
    2023-01-01 0 days 1,536 sqft
    2023-02-01 0 days 1,566 sqft
    2023-03-01 0 days 1,587 sqft
    2023-04-01 0 days 1,600 sqft
    2023-05-01 0 days 1,676 sqft
    2023-06-01 0 days 1,686 sqft
    2023-07-01 0 days 1,685 sqft
    2023-08-01 0 days 1,728 sqft
    2023-09-01 0 days 1,565 sqft
    2023-10-01 0 days 1,565 sqft
    2023-11-01 0 days 1,565 sqft
    2023-12-01 0 days 1,525 sqft
    2024-01-01 0 days 1,511 sqft
    2024-02-01 0 days 1,517 sqft
    2024-03-01 0 days 1,508 sqft
    2024-04-01 0 days 1,471 sqft
    2024-05-01 0 days 1,452 sqft
    2024-06-01 0 days 1,468 sqft
    2024-07-01 0 days 1,503 sqft
    2024-08-01 0 days 1,607 sqft
    2024-09-01 0 days 1,548 sqft
    2024-10-01 0 days 1,601 sqft
    2024-11-01 0 days 1,504 sqft
    2024-12-01 0 days 1,528 sqft
    2025-01-01 0 days 1,501 sqft
    2025-02-01 0 days 1,530 sqft
    2025-03-01 0 days 1,455 sqft
    Okeechobee's median listing age (time on market) for 2025-03-01 was 0 days.

    Okeechobee's median square footage for active listings during the 2025-03-01 period was 1,455 sqft. One year prior, the average listing was 1,508 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).