Ottawa FHA Loan Rates, Closing Costs & Stats
Ottawa, KS
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.
Ottawa's 36 lenders originated 78 FHA loans during 2023. The total origination value was $19,510,000, with an average FHA loan value of $250,128.
Ottawa FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Ottawa
averaged
0.29%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Ottawa's average FHA mortgage closing costs are $6,005.
The average rate for the prior week (2024-11-22) was
6.58% and
one month ago for the week of 2024-10-25, the
average rate was 6.46%.
The average rate one year ago was 7.25%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.1%.
Ottawa 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 Ottawa level.
The top Ottawa FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with
11 FHA loans originated. Their average total fees are
$6,786, which is $451
lower than the next largest lender,
SUCCESS MORTGAGE PARTNERS, INC..
The lowest fee Ottawa FHA lenders (with over 10 loans originated) are
FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,786), .
The lowest rate Ottawa FHA lenders (with over 10 loans originated) are
FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.88%), .
Ottawa FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
OTTAWA, KS | FRANKLIN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
OTTAWA, KS | FRANKLIN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Ottawa (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 | $137,500 (17.0%) | $216,257 (23.7%) | 0.00 | 70 |
2018-02-01 | $137,475 (10.1%) | $185,668 (0.4%) | 0.00 | 66 |
2018-03-01 | $139,750 (5.7%) | $179,713 (-10.0%) | 0.00 | 63 |
2018-04-01 | $147,500 (2.3%) | $187,838 (-9.7%) | 0.00 | 58 |
2018-05-01 | $169,000 (24.1%) | $208,289 (9.1%) | 0.00 | 64 |
2018-06-01 | $172,000 (36.9%) | $219,397 (2.4%) | 0.00 | 71 |
2018-07-01 | $169,938 (17.2%) | $215,736 (-2.1%) | 0.00 | 86 |
2018-08-01 | $166,500 (15.8%) | $209,636 (4.9%) | 0.00 | 88 |
2018-09-01 | $162,500 (12.1%) | $205,700 (-6.3%) | 0.00 | 101 |
2018-10-01 | $165,000 (10.6%) | $200,830 (-4.9%) | 0.00 | 101 |
2018-11-01 | $151,250 (1.5%) | $196,373 (-18.6%) | 0.00 | 102 |
2018-12-01 | $163,450 (17.7%) | $201,383 (-8.5%) | 0.00 | 96 |
2019-01-01 | $174,900 (27.2%) | $231,691 (7.1%) | 0.00 | 83 |
2019-02-01 | $175,000 (27.3%) | $210,814 (13.5%) | 0.00 | 78 |
2019-03-01 | $180,286 (29.0%) | $215,099 (19.7%) | 0.00 | 67 |
2019-04-01 | $195,000 (32.2%) | $230,098 (22.5%) | 0.00 | 54 |
2019-05-01 | $185,000 (9.5%) | $229,447 (10.2%) | 0.00 | 58 |
2019-06-01 | $189,000 (9.9%) | $247,331 (12.7%) | 0.00 | 66 |
2019-07-01 | $190,000 (11.8%) | $236,276 (9.5%) | 0.00 | 62 |
2019-08-01 | $182,850 (9.8%) | $238,273 (13.7%) | 0.00 | 64 |
2019-09-01 | $173,625 (6.9%) | $231,174 (12.4%) | 0.00 | 69 |
2019-10-01 | $167,175 (1.3%) | $226,441 (12.8%) | 0.00 | 74 |
2019-11-01 | $159,900 (5.7%) | $219,277 (11.7%) | 0.00 | 77 |
2019-12-01 | $165,875 (1.5%) | $219,044 (8.8%) | 0.00 | 69 |
2020-01-01 | $159,975 (-8.5%) | $222,422 (-4.0%) | 0.00 | 67 |
2020-02-01 | $155,000 (-11.4%) | $226,303 (7.4%) | 0.00 | 61 |
2020-03-01 | $180,450 (0.1%) | $231,782 (7.8%) | 0.00 | 58 |
2020-04-01 | $203,463 (4.3%) | $258,566 (12.4%) | 0.00 | 54 |
2020-05-01 | $227,000 (22.7%) | $267,176 (16.4%) | 0.00 | 46 |
2020-06-01 | $177,725 (-6.0%) | $291,207 (17.7%) | 0.00 | 46 |
2020-07-01 | $216,000 (13.7%) | $365,817 (54.8%) | 0.00 | 38 |
2020-08-01 | $210,000 (14.9%) | $366,543 (53.8%) | 0.00 | 40 |
2020-09-01 | $278,500 (60.4%) | $392,959 (70.0%) | 0.00 | 35 |
2020-10-01 | $262,000 (56.7%) | $341,913 (51.0%) | 0.00 | 47 |
2020-11-01 | $214,725 (34.3%) | $314,985 (43.7%) | 0.00 | 51 |
2020-12-01 | $176,625 (6.5%) | $292,785 (33.7%) | 0.00 | 42 |
2021-01-01 | $177,000 (10.6%) | $298,010 (34.0%) | 0.00 | 30 |
2021-02-01 | $153,250 (-1.1%) | $246,897 (9.1%) | 0.00 | 34 |
2021-03-01 | $150,500 (-16.6%) | $240,593 (3.8%) | 0.00 | 24 |
2021-04-01 | $189,575 (-6.8%) | $294,844 (14.0%) | 0.00 | 20 |
2021-05-01 | $165,000 (-27.3%) | $275,515 (3.1%) | 0.00 | 27 |
2021-06-01 | $172,500 (-2.9%) | $265,686 (-8.8%) | 0.00 | 35 |
2021-07-01 | $187,500 (-13.2%) | $262,704 (-28.2%) | 0.00 | 40 |
2021-08-01 | $187,100 (-10.9%) | $269,210 (-26.6%) | 0.00 | 43 |
2021-09-01 | $156,175 (-43.9%) | $249,748 (-36.4%) | 0.00 | 47 |
2021-10-01 | $189,900 (-27.5%) | $235,114 (-31.2%) | 0.00 | 49 |
2021-11-01 | $182,225 (-15.1%) | $222,867 (-29.3%) | 0.00 | 32 |
2021-12-01 | $184,975 (4.7%) | $245,790 (-16.1%) | 0.00 | 34 |
2022-01-01 | $219,450 (24.0%) | $253,834 (-14.8%) | 0.00 | 16 |
2022-02-01 | $232,225 (51.5%) | $269,689 (9.2%) | 0.00 | 21 |
2022-03-01 | $197,100 (31.0%) | $254,649 (5.8%) | 0.00 | 23 |
2022-04-01 | $190,000 (0.2%) | $287,181 (-2.6%) | 0.00 | 20 |
2022-05-01 | $191,250 (15.9%) | $266,039 (-3.4%) | 0.00 | 29 |
2022-06-01 | $204,750 (18.7%) | $285,478 (7.5%) | 0.00 | 38 |
2022-07-01 | $240,000 (28.0%) | $301,986 (15.0%) | 0.00 | 43 |
2022-08-01 | $204,950 (9.5%) | $286,193 (6.3%) | 0.00 | 56 |
2022-09-01 | $197,000 (26.1%) | $272,642 (9.2%) | 0.00 | 55 |
2022-10-01 | $189,750 (-0.1%) | $267,253 (13.7%) | 0.00 | 50 |
2022-11-01 | $219,125 (20.3%) | $264,514 (18.7%) | 0.00 | 53 |
2022-12-01 | $222,500 (20.3%) | $266,065 (8.3%) | 0.00 | 47 |
2023-01-01 | $228,000 (3.9%) | $263,197 (3.7%) | 0.00 | 39 |
2023-02-01 | $224,600 (-3.3%) | $261,787 (-2.9%) | 0.00 | 39 |
2023-03-01 | $224,200 (13.8%) | $277,330 (8.9%) | 0.00 | 30 |
2023-04-01 | $248,700 (30.9%) | $270,803 (-5.7%) | 0.00 | 30 |
2023-05-01 | $232,450 (21.5%) | $270,094 (1.5%) | 0.00 | 31 |
2023-06-01 | $228,725 (11.7%) | $288,369 (1.0%) | 0.00 | 39 |
2023-07-01 | $229,700 (-4.3%) | $320,285 (6.1%) | 0.00 | 38 |
2023-08-01 | $234,475 (14.4%) | $328,026 (14.6%) | 0.00 | 51 |
2023-09-01 | $232,250 (17.9%) | $322,679 (18.4%) | 0.00 | 51 |
2023-10-01 | $290,988 (53.4%) | $365,441 (36.7%) | 0.00 | 55 |
2023-11-01 | $259,550 (18.5%) | $343,198 (29.8%) | 0.00 | 55 |
2023-12-01 | $277,000 (24.5%) | $356,445 (34.0%) | 0.00 | 48 |
2024-01-01 | $305,875 (34.2%) | $379,659 (44.3%) | 0.00 | 40 |
2024-02-01 | $299,500 (33.4%) | $375,545 (43.5%) | 0.00 | 41 |
2024-03-01 | $271,600 (21.1%) | $375,674 (35.5%) | 0.00 | 37 |
2024-04-01 | $263,300 (5.9%) | $352,025 (30.0%) | 0.00 | 37 |
2024-05-01 | $233,750 (0.6%) | $330,516 (22.4%) | 0.00 | 41 |
2024-06-01 | $275,000 (20.2%) | $304,353 (5.5%) | 0.00 | 41 |
2024-07-01 | $278,375 (21.2%) | $292,161 (-8.8%) | 0.00 | 37 |
2024-08-01 | $279,900 (19.4%) | $311,294 (-5.1%) | 0.00 | 37 |
2024-09-01 | $262,338 (13.0%) | $283,207 (-12.2%) | 0.00 | 43 |
2024-10-01 | $270,500 (-7.0%) | $285,398 (-21.9%) | 0.00 | 45 |
Ottawa's median listing price comes in at 0% of the national average.
Ottawa's average listing price for 2024-10-01 was $285,398, a difference of $-80,043 (-21.9%) versus the prior year and $2,191 versus the prior month.
For the 2024-10-01 period, Ottawa had 45 MLS listings, a difference of 2 listings (5%) versus the prior month and -10 listings (-18%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Ottawa (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,702 sqft |
2018-02-01 | 0 days | 1,666 sqft |
2018-03-01 | 0 days | 1,720 sqft |
2018-04-01 | 0 days | 1,647 sqft |
2018-05-01 | 0 days | 1,696 sqft |
2018-06-01 | 0 days | 1,692 sqft |
2018-07-01 | 0 days | 1,686 sqft |
2018-08-01 | 0 days | 1,559 sqft |
2018-09-01 | 0 days | 1,642 sqft |
2018-10-01 | 0 days | 1,537 sqft |
2018-11-01 | 0 days | 1,505 sqft |
2018-12-01 | 0 days | 1,676 sqft |
2019-01-01 | 0 days | 1,754 sqft |
2019-02-01 | 0 days | 1,825 sqft |
2019-03-01 | 0 days | 1,798 sqft |
2019-04-01 | 0 days | 1,814 sqft |
2019-05-01 | 0 days | 1,827 sqft |
2019-06-01 | 0 days | 1,659 sqft |
2019-07-01 | 0 days | 1,598 sqft |
2019-08-01 | 0 days | 1,598 sqft |
2019-09-01 | 0 days | 1,583 sqft |
2019-10-01 | 0 days | 1,594 sqft |
2019-11-01 | 0 days | 1,613 sqft |
2019-12-01 | 0 days | 1,654 sqft |
2020-01-01 | 0 days | 1,587 sqft |
2020-02-01 | 0 days | 1,638 sqft |
2020-03-01 | 0 days | 1,712 sqft |
2020-04-01 | 0 days | 1,786 sqft |
2020-05-01 | 0 days | 1,728 sqft |
2020-06-01 | 0 days | 1,691 sqft |
2020-07-01 | 0 days | 1,732 sqft |
2020-08-01 | 0 days | 1,745 sqft |
2020-09-01 | 0 days | 1,863 sqft |
2020-10-01 | 0 days | 1,836 sqft |
2020-11-01 | 0 days | 1,856 sqft |
2020-12-01 | 0 days | 1,791 sqft |
2021-01-01 | 0 days | 1,680 sqft |
2021-02-01 | 0 days | 1,688 sqft |
2021-03-01 | 0 days | 1,450 sqft |
2021-04-01 | 0 days | 1,625 sqft |
2021-05-01 | 0 days | 1,625 sqft |
2021-06-01 | 0 days | 1,521 sqft |
2021-07-01 | 0 days | 1,603 sqft |
2021-08-01 | 0 days | 1,557 sqft |
2021-09-01 | 0 days | 1,446 sqft |
2021-10-01 | 0 days | 1,508 sqft |
2021-11-01 | 0 days | 1,524 sqft |
2021-12-01 | 0 days | 1,392 sqft |
2022-01-01 | 0 days | 1,300 sqft |
2022-02-01 | 0 days | 1,329 sqft |
2022-03-01 | 0 days | 1,487 sqft |
2022-04-01 | 0 days | 1,504 sqft |
2022-05-01 | 0 days | 1,407 sqft |
2022-06-01 | 0 days | 1,559 sqft |
2022-07-01 | 0 days | 1,656 sqft |
2022-08-01 | 0 days | 1,414 sqft |
2022-09-01 | 0 days | 1,405 sqft |
2022-10-01 | 0 days | 1,428 sqft |
2022-11-01 | 0 days | 1,523 sqft |
2022-12-01 | 0 days | 1,560 sqft |
2023-01-01 | 0 days | 1,528 sqft |
2023-02-01 | 0 days | 1,447 sqft |
2023-03-01 | 0 days | 1,575 sqft |
2023-04-01 | 0 days | 1,536 sqft |
2023-05-01 | 0 days | 1,886 sqft |
2023-06-01 | 0 days | 1,628 sqft |
2023-07-01 | 0 days | 1,828 sqft |
2023-08-01 | 0 days | 1,790 sqft |
2023-09-01 | 0 days | 1,792 sqft |
2023-10-01 | 0 days | 1,848 sqft |
2023-11-01 | 0 days | 1,844 sqft |
2023-12-01 | 0 days | 1,846 sqft |
2024-01-01 | 0 days | 1,807 sqft |
2024-02-01 | 0 days | 1,872 sqft |
2024-03-01 | 0 days | 1,874 sqft |
2024-04-01 | 0 days | 1,919 sqft |
2024-05-01 | 0 days | 1,791 sqft |
2024-06-01 | 0 days | 1,520 sqft |
2024-07-01 | 0 days | 1,553 sqft |
2024-08-01 | 0 days | 1,760 sqft |
2024-09-01 | 0 days | 1,641 sqft |
2024-10-01 | 0 days | 1,717 sqft |
Ottawa's median square footage for active listings during the 2024-10-01 period was 1,717 sqft. One year prior, the average listing was 1,848 sqft.