Omaha FHA Loan Rates, Closing Costs & Stats
OMAHA-COUNCIL BLUFFS, NE-IA
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.
Omaha's 112 lenders originated 1,905 FHA loans during 2023. The total origination value was $474,575,000, with an average FHA loan value of $249,121.
Omaha FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Omaha
averaged
-0.02%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Omaha's average FHA mortgage closing costs are $6,378.
The average rate for the prior week (2024-11-22) was
6.37% and
one month ago for the week of 2024-10-25, the
average rate was 6.45%.
The average rate one year ago was 6.94%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.27%.
Omaha 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 Omaha level.
The top Omaha FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
220 FHA loans originated. Their average total fees are
$10,035, which is $2,192
higher than the next largest lender,
CHARTER WEST BANK.
The lowest fee Omaha FHA lenders (with over 10 loans originated) are
Prosperity Home Mortgage, LLC ($6,668), American National Bank ($7,083), Flanagan State Bank ($7,342), U.S. Bank ($7,394) and First National Bank of Omaha ($7,426).
The lowest rate Omaha FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.40%), Mr. Cooper ( Nationstar Mortgage ) (6.00%), Core Bank (6.22%), AMERISAVE MORTGAGE CORPORATION (6.23%) and QUICKEN LOANS, LLC (6.27%).
Omaha FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
OMAHA-COUNCIL BLUFFS, NE-IA | HARRISON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
OMAHA-COUNCIL BLUFFS, NE-IA | MILLS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
OMAHA-COUNCIL BLUFFS, NE-IA | POTTAWATTAMIE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
OMAHA-COUNCIL BLUFFS, NE-IA | CASS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
OMAHA-COUNCIL BLUFFS, NE-IA | DOUGLAS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
OMAHA-COUNCIL BLUFFS, NE-IA | SARPY | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
OMAHA-COUNCIL BLUFFS, NE-IA | SAUNDERS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
OMAHA-COUNCIL BLUFFS, NE-IA | WASHINGTON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
OMAHA-COUNCIL BLUFFS, NE-IA | HARRISON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
OMAHA-COUNCIL BLUFFS, NE-IA | MILLS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
OMAHA-COUNCIL BLUFFS, NE-IA | POTTAWATTAMIE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
OMAHA-COUNCIL BLUFFS, NE-IA | CASS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
OMAHA-COUNCIL BLUFFS, NE-IA | DOUGLAS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
OMAHA-COUNCIL BLUFFS, NE-IA | SARPY | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
OMAHA-COUNCIL BLUFFS, NE-IA | SAUNDERS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
OMAHA-COUNCIL BLUFFS, NE-IA | WASHINGTON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Omaha (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 | $268,225 (13.3%) | $321,358 (12.5%) | 0.99 | 2,014 |
2018-02-01 | $282,300 (10.9%) | $333,461 (12.0%) | 1.02 | 1,844 |
2018-03-01 | $288,000 (6.8%) | $341,574 (11.6%) | 1.01 | 1,894 |
2018-04-01 | $296,731 (7.9%) | $360,474 (15.1%) | 1.01 | 1,972 |
2018-05-01 | $293,163 (6.6%) | $341,602 (6.3%) | 0.98 | 2,098 |
2018-06-01 | $290,000 (6.5%) | $345,900 (8.2%) | 0.97 | 2,350 |
2018-07-01 | $287,900 (6.7%) | $342,710 (7.5%) | 0.96 | 2,510 |
2018-08-01 | $288,450 (9.5%) | $338,516 (8.3%) | 0.97 | 2,620 |
2018-09-01 | $279,900 (6.8%) | $330,766 (5.9%) | 0.94 | 2,781 |
2018-10-01 | $269,950 (3.9%) | $323,404 (3.3%) | 0.91 | 2,850 |
2018-11-01 | $269,050 (0.8%) | $321,614 (0.4%) | 0.91 | 2,777 |
2018-12-01 | $279,900 (5.6%) | $328,002 (2.8%) | 0.97 | 2,415 |
2019-01-01 | $285,000 (6.3%) | $327,731 (2.0%) | 0.98 | 2,142 |
2019-02-01 | $289,825 (2.7%) | $333,601 (0.0%) | 0.98 | 2,007 |
2019-03-01 | $303,029 (5.2%) | $344,066 (0.7%) | 0.99 | 1,937 |
2019-04-01 | $311,700 (5.0%) | $349,559 (-3.0%) | 0.99 | 1,933 |
2019-05-01 | $306,003 (4.4%) | $351,254 (2.8%) | 0.96 | 2,097 |
2019-06-01 | $299,000 (3.1%) | $349,985 (1.2%) | 0.93 | 2,258 |
2019-07-01 | $299,925 (4.2%) | $353,546 (3.2%) | 0.94 | 2,350 |
2019-08-01 | $298,155 (3.4%) | $350,284 (3.5%) | 0.94 | 2,443 |
2019-09-01 | $287,886 (2.9%) | $339,241 (2.6%) | 0.92 | 2,589 |
2019-10-01 | $279,950 (3.7%) | $331,347 (2.5%) | 0.90 | 2,672 |
2019-11-01 | $281,400 (4.6%) | $331,683 (3.1%) | 0.92 | 2,481 |
2019-12-01 | $283,250 (1.2%) | $331,310 (1.0%) | 0.94 | 2,175 |
2020-01-01 | $291,400 (2.3%) | $340,449 (3.9%) | 0.97 | 1,915 |
2020-02-01 | $305,000 (5.2%) | $349,526 (4.8%) | 1.00 | 1,802 |
2020-03-01 | $305,000 (0.7%) | $355,773 (3.4%) | 0.96 | 1,869 |
2020-04-01 | $306,250 (-1.8%) | $354,846 (1.5%) | 0.96 | 1,960 |
2020-05-01 | $315,000 (2.9%) | $363,662 (3.5%) | 0.96 | 1,893 |
2020-06-01 | $319,950 (7.0%) | $369,698 (5.6%) | 0.94 | 1,696 |
2020-07-01 | $319,500 (6.5%) | $367,811 (4.0%) | 0.93 | 1,621 |
2020-08-01 | $313,980 (5.3%) | $367,119 (4.8%) | 0.90 | 1,490 |
2020-09-01 | $308,500 (7.2%) | $368,515 (8.6%) | 0.88 | 1,482 |
2020-10-01 | $294,975 (5.4%) | $362,051 (9.3%) | 0.85 | 1,429 |
2020-11-01 | $288,750 (2.6%) | $355,849 (7.3%) | 0.84 | 1,342 |
2020-12-01 | $290,036 (2.4%) | $357,124 (7.8%) | 0.86 | 1,221 |
2021-01-01 | $315,000 (8.1%) | $370,757 (8.9%) | 0.94 | 1,009 |
2021-02-01 | $322,788 (5.8%) | $386,675 (10.6%) | 0.94 | 817 |
2021-03-01 | $322,075 (5.6%) | $384,290 (8.0%) | 0.91 | 840 |
2021-04-01 | $314,500 (2.7%) | $386,328 (8.9%) | 0.85 | 869 |
2021-05-01 | $305,000 (-3.2%) | $391,828 (7.7%) | 0.81 | 922 |
2021-06-01 | $297,975 (-6.9%) | $382,130 (3.4%) | 0.78 | 1,008 |
2021-07-01 | $289,900 (-9.3%) | $371,666 (1.1%) | 0.76 | 1,160 |
2021-08-01 | $289,900 (-7.7%) | $370,023 (0.8%) | 0.77 | 1,184 |
2021-09-01 | $292,450 (-5.2%) | $364,030 (-1.2%) | 0.78 | 1,230 |
2021-10-01 | $285,000 (-3.4%) | $365,012 (0.8%) | 0.76 | 1,229 |
2021-11-01 | $291,750 (1.0%) | $365,592 (2.7%) | 0.78 | 1,116 |
2021-12-01 | $302,500 (4.3%) | $373,742 (4.7%) | 0.82 | 886 |
2022-01-01 | $375,000 (19.1%) | $414,472 (11.8%) | 1.01 | 668 |
2022-02-01 | $392,050 (21.5%) | $427,119 (10.5%) | 1.02 | 614 |
2022-03-01 | $384,838 (19.5%) | $424,718 (10.5%) | 0.96 | 650 |
2022-04-01 | $375,000 (19.2%) | $426,516 (10.4%) | 0.89 | 718 |
2022-05-01 | $377,919 (23.9%) | $435,217 (11.1%) | 0.86 | 917 |
2022-06-01 | $379,995 (27.5%) | $437,113 (14.4%) | 0.85 | 1,098 |
2022-07-01 | $380,000 (31.1%) | $439,786 (18.3%) | 0.86 | 1,318 |
2022-08-01 | $379,950 (31.1%) | $434,309 (17.4%) | 0.88 | 1,549 |
2022-09-01 | $378,150 (29.3%) | $433,609 (19.1%) | 0.88 | 1,571 |
2022-10-01 | $389,000 (36.5%) | $434,950 (19.2%) | 0.92 | 1,743 |
2022-11-01 | $389,725 (33.6%) | $428,454 (17.2%) | 0.94 | 1,794 |
2022-12-01 | $399,000 (31.9%) | $435,939 (16.6%) | 0.99 | 1,591 |
2023-01-01 | $411,038 (9.6%) | $447,341 (7.9%) | 1.02 | 1,458 |
2023-02-01 | $428,250 (9.2%) | $470,280 (10.1%) | 1.03 | 1,309 |
2023-03-01 | $438,000 (13.8%) | $482,056 (13.5%) | 1.03 | 1,331 |
2023-04-01 | $435,000 (16.0%) | $488,612 (14.6%) | 1.01 | 1,339 |
2023-05-01 | $429,544 (13.7%) | $492,191 (13.1%) | 0.97 | 1,415 |
2023-06-01 | $419,975 (10.5%) | $489,997 (12.1%) | 0.94 | 1,544 |
2023-07-01 | $400,000 (5.3%) | $476,867 (8.4%) | 0.91 | 1,666 |
2023-08-01 | $399,700 (5.2%) | $476,695 (9.8%) | 0.92 | 1,680 |
2023-09-01 | $392,995 (3.9%) | $463,567 (6.9%) | 0.92 | 1,844 |
2023-10-01 | $389,425 (0.1%) | $455,940 (4.8%) | 0.92 | 1,997 |
2023-11-01 | $385,825 (-1.0%) | $446,944 (4.3%) | 0.92 | 2,106 |
2023-12-01 | $389,000 (-2.5%) | $447,748 (2.7%) | 0.95 | 2,011 |
2024-01-01 | $391,644 (-4.7%) | $450,083 (0.6%) | 0.96 | 1,778 |
2024-02-01 | $399,000 (-6.8%) | $462,818 (-1.6%) | 0.96 | 1,699 |
2024-03-01 | $402,418 (-8.1%) | $473,349 (-1.8%) | 0.95 | 1,772 |
2024-04-01 | $408,276 (-6.1%) | $481,422 (-1.5%) | 0.95 | 1,845 |
2024-05-01 | $414,990 (-3.4%) | $499,452 (1.5%) | 0.94 | 1,904 |
2024-06-01 | $409,000 (-2.6%) | $490,535 (0.1%) | 0.92 | 2,062 |
2024-07-01 | $399,000 (-0.3%) | $475,077 (-0.4%) | 0.91 | 2,228 |
2024-08-01 | $399,522 (0.0%) | $475,759 (-0.2%) | 0.93 | 2,253 |
2024-09-01 | $390,173 (-0.7%) | $460,033 (-0.8%) | 0.92 | 2,332 |
2024-10-01 | $385,000 (-1.1%) | $456,257 (0.1%) | 0.91 | 2,446 |
Omaha's median listing price comes in at 91% of the national average.
Omaha's average listing price for 2024-10-01 was $456,257, a difference of $317 (0.1%) versus the prior year and $-3,776 versus the prior month.
For the 2024-10-01 period, Omaha had 2,446 MLS listings, a difference of 114 listings (5%) versus the prior month and 449 listings (22%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Omaha (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 61 days | 2,079 sqft |
2018-02-01 | 54 days | 2,169 sqft |
2018-03-01 | 43 days | 2,286 sqft |
2018-04-01 | 37 days | 2,350 sqft |
2018-05-01 | 36 days | 2,320 sqft |
2018-06-01 | 25 days | 2,339 sqft |
2018-07-01 | 30 days | 2,304 sqft |
2018-08-01 | 32 days | 2,315 sqft |
2018-09-01 | 37 days | 2,282 sqft |
2018-10-01 | 38 days | 2,197 sqft |
2018-11-01 | 43 days | 2,153 sqft |
2018-12-01 | 54 days | 2,135 sqft |
2019-01-01 | 56 days | 2,133 sqft |
2019-02-01 | 46 days | 2,197 sqft |
2019-03-01 | 41 days | 2,302 sqft |
2019-04-01 | 29 days | 2,366 sqft |
2019-05-01 | 27 days | 2,366 sqft |
2019-06-01 | 30 days | 2,310 sqft |
2019-07-01 | 33 days | 2,357 sqft |
2019-08-01 | 34 days | 2,329 sqft |
2019-09-01 | 34 days | 2,251 sqft |
2019-10-01 | 36 days | 2,183 sqft |
2019-11-01 | 47 days | 2,153 sqft |
2019-12-01 | 60 days | 2,129 sqft |
2020-01-01 | 62 days | 2,153 sqft |
2020-02-01 | 48 days | 2,194 sqft |
2020-03-01 | 43 days | 2,223 sqft |
2020-04-01 | 42 days | 2,279 sqft |
2020-05-01 | 47 days | 2,325 sqft |
2020-06-01 | 48 days | 2,302 sqft |
2020-07-01 | 50 days | 2,302 sqft |
2020-08-01 | 46 days | 2,236 sqft |
2020-09-01 | 43 days | 2,209 sqft |
2020-10-01 | 45 days | 2,095 sqft |
2020-11-01 | 48 days | 2,004 sqft |
2020-12-01 | 51 days | 1,997 sqft |
2021-01-01 | 53 days | 1,975 sqft |
2021-02-01 | 52 days | 2,097 sqft |
2021-03-01 | 42 days | 2,135 sqft |
2021-04-01 | 34 days | 2,136 sqft |
2021-05-01 | 33 days | 2,152 sqft |
2021-06-01 | 33 days | 2,116 sqft |
2021-07-01 | 33 days | 2,038 sqft |
2021-08-01 | 33 days | 2,035 sqft |
2021-09-01 | 36 days | 1,954 sqft |
2021-10-01 | 37 days | 1,963 sqft |
2021-11-01 | 42 days | 1,922 sqft |
2021-12-01 | 49 days | 1,929 sqft |
2022-01-01 | 47 days | 2,079 sqft |
2022-02-01 | 35 days | 2,181 sqft |
2022-03-01 | 32 days | 2,149 sqft |
2022-04-01 | 29 days | 2,160 sqft |
2022-05-01 | 29 days | 2,205 sqft |
2022-06-01 | 30 days | 2,260 sqft |
2022-07-01 | 31 days | 2,286 sqft |
2022-08-01 | 32 days | 2,171 sqft |
2022-09-01 | 42 days | 2,137 sqft |
2022-10-01 | 39 days | 2,200 sqft |
2022-11-01 | 44 days | 2,163 sqft |
2022-12-01 | 57 days | 2,166 sqft |
2023-01-01 | 67 days | 2,199 sqft |
2023-02-01 | 53 days | 2,246 sqft |
2023-03-01 | 50 days | 2,283 sqft |
2023-04-01 | 49 days | 2,304 sqft |
2023-05-01 | 44 days | 2,281 sqft |
2023-06-01 | 42 days | 2,299 sqft |
2023-07-01 | 38 days | 2,224 sqft |
2023-08-01 | 37 days | 2,237 sqft |
2023-09-01 | 36 days | 2,201 sqft |
2023-10-01 | 37 days | 2,189 sqft |
2023-11-01 | 39 days | 2,192 sqft |
2023-12-01 | 45 days | 2,197 sqft |
2024-01-01 | 55 days | 2,196 sqft |
2024-02-01 | 49 days | 2,196 sqft |
2024-03-01 | 39 days | 2,169 sqft |
2024-04-01 | 40 days | 2,204 sqft |
2024-05-01 | 33 days | 2,230 sqft |
2024-06-01 | 36 days | 2,236 sqft |
2024-07-01 | 38 days | 2,211 sqft |
2024-08-01 | 43 days | 2,236 sqft |
2024-09-01 | 44 days | 2,191 sqft |
2024-10-01 | 42 days | 2,184 sqft |
Omaha's median square footage for active listings during the 2024-10-01 period was 2,184 sqft. One year prior, the average listing was 2,189 sqft.