Quincy FHA Loan Rates, Closing Costs & Stats
Quincy, IL-MO
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.
Quincy's 35 lenders originated 119 FHA loans during 2023. The total origination value was $16,945,000, with an average FHA loan value of $142,395.
Quincy FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Quincy
averaged
6.65%
for the week of 2024-11-08, compared to the national average (all FHA variants) of
6.425% for the same period.
Quincy's average FHA mortgage closing costs are $5,328.
The average rate for the prior week (2024-11-01) was
6.43% and
one month ago for the week of 2024-10-04, the
average rate was 6.05%.
The average rate one year ago was 7.59%.
For refis of the same type during the week of 2024-11-08, the average rate
was 6.43%.
Quincy 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 Quincy level.
The top Quincy FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with
38 FHA loans originated. Their average total fees are
$6,363, which is $234
higher than the next largest lender,
FLAT BRANCH MORTGAGE, INC..
The lowest fee Quincy FHA lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. ($6,129), CROSSCOUNTRY MORTGAGE, LLC ($6,363), .
The lowest rate Quincy FHA lenders (with over 10 loans originated) are
FLAT BRANCH MORTGAGE, INC. (6.48%), CROSSCOUNTRY MORTGAGE, LLC (6.86%), .
Quincy FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
QUINCY, IL-MO | ADAMS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
QUINCY, IL-MO | LEWIS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
QUINCY, IL-MO | ADAMS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
QUINCY, IL-MO | LEWIS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Quincy (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 | $115,000 (-1.3%) | $153,095 (-5.0%) | 0.00 | 269 |
2018-02-01 | $118,350 (-4.6%) | $151,863 (-9.6%) | 0.00 | 295 |
2018-03-01 | $124,950 (-2.7%) | $158,261 (-8.5%) | 0.00 | 290 |
2018-04-01 | $128,075 (-1.4%) | $163,545 (-6.6%) | 0.00 | 296 |
2018-05-01 | $130,725 (-1.7%) | $168,252 (-5.6%) | 0.00 | 293 |
2018-06-01 | $137,950 (7.2%) | $174,075 (-0.6%) | 0.00 | 299 |
2018-07-01 | $134,950 (8.0%) | $171,993 (-0.5%) | 0.00 | 303 |
2018-08-01 | $137,500 (14.6%) | $173,352 (2.5%) | 0.00 | 302 |
2018-09-01 | $136,750 (10.3%) | $171,511 (1.0%) | 0.00 | 310 |
2018-10-01 | $129,975 (6.1%) | $163,418 (-1.1%) | 0.00 | 327 |
2018-11-01 | $133,575 (11.4%) | $165,185 (4.5%) | 0.00 | 313 |
2018-12-01 | $126,000 (7.1%) | $162,660 (4.8%) | 0.00 | 302 |
2019-01-01 | $125,475 (9.1%) | $160,417 (4.8%) | 0.00 | 284 |
2019-02-01 | $127,200 (7.5%) | $163,717 (7.8%) | 0.00 | 289 |
2019-03-01 | $128,529 (2.9%) | $165,099 (4.3%) | 0.00 | 309 |
2019-04-01 | $129,900 (1.4%) | $166,995 (2.1%) | 0.00 | 319 |
2019-05-01 | $132,125 (1.1%) | $163,885 (-2.6%) | 0.00 | 314 |
2019-06-01 | $135,500 (-1.8%) | $165,903 (-4.7%) | 0.00 | 301 |
2019-07-01 | $135,000 (0.0%) | $164,882 (-4.1%) | 0.00 | 305 |
2019-08-01 | $136,091 (-1.0%) | $166,078 (-4.2%) | 0.00 | 317 |
2019-09-01 | $137,727 (0.7%) | $167,926 (-2.1%) | 0.00 | 322 |
2019-10-01 | $139,250 (7.1%) | $169,451 (3.7%) | 0.00 | 325 |
2019-11-01 | $140,900 (5.5%) | $171,862 (4.0%) | 0.00 | 316 |
2019-12-01 | $141,875 (12.6%) | $174,271 (7.1%) | 0.00 | 305 |
2020-01-01 | $139,900 (11.5%) | $172,284 (7.4%) | 0.00 | 236 |
2020-02-01 | $139,900 (10.0%) | $174,035 (6.3%) | 0.00 | 214 |
2020-03-01 | $145,325 (13.1%) | $176,931 (7.2%) | 0.00 | 214 |
2020-04-01 | $141,875 (9.2%) | $179,556 (7.5%) | 0.00 | 213 |
2020-05-01 | $141,200 (6.9%) | $182,176 (11.2%) | 0.00 | 292 |
2020-06-01 | $149,000 (10.0%) | $187,400 (13.0%) | 0.00 | 299 |
2020-07-01 | $147,750 (9.4%) | $188,636 (14.4%) | 0.00 | 294 |
2020-08-01 | $145,000 (6.6%) | $183,206 (10.3%) | 0.00 | 278 |
2020-09-01 | $143,325 (4.1%) | $179,374 (6.8%) | 0.00 | 269 |
2020-10-01 | $145,000 (4.1%) | $179,812 (6.1%) | 0.00 | 250 |
2020-11-01 | $141,200 (0.2%) | $174,355 (1.5%) | 0.00 | 245 |
2020-12-01 | $129,700 (-8.6%) | $162,286 (-6.9%) | 0.00 | 216 |
2021-01-01 | $126,700 (-9.4%) | $163,295 (-5.2%) | 0.00 | 189 |
2021-02-01 | $128,150 (-8.4%) | $164,400 (-5.5%) | 0.00 | 186 |
2021-03-01 | $125,900 (-13.4%) | $171,091 (-3.3%) | 0.00 | 167 |
2021-04-01 | $127,900 (-9.9%) | $175,295 (-2.4%) | 0.00 | 184 |
2021-05-01 | $128,900 (-8.7%) | $182,137 (0.0%) | 0.00 | 168 |
2021-06-01 | $129,625 (-13.0%) | $183,614 (-2.0%) | 0.00 | 154 |
2021-07-01 | $130,950 (-11.4%) | $185,807 (-1.5%) | 0.00 | 181 |
2021-08-01 | $120,000 (-17.2%) | $178,507 (-2.6%) | 0.00 | 177 |
2021-09-01 | $122,950 (-14.2%) | $173,756 (-3.1%) | 0.00 | 172 |
2021-10-01 | $135,000 (-6.9%) | $188,975 (5.1%) | 0.00 | 178 |
2021-11-01 | $134,950 (-4.4%) | $198,702 (14.0%) | 0.00 | 153 |
2021-12-01 | $137,250 (5.8%) | $203,079 (25.1%) | 0.00 | 138 |
2022-01-01 | $129,900 (2.5%) | $207,362 (27.0%) | 0.00 | 107 |
2022-02-01 | $128,150 (0.0%) | $205,424 (25.0%) | 0.00 | 123 |
2022-03-01 | $129,950 (3.2%) | $230,172 (34.5%) | 0.00 | 105 |
2022-04-01 | $147,450 (15.3%) | $231,409 (32.0%) | 0.00 | 109 |
2022-05-01 | $149,900 (16.3%) | $224,146 (23.1%) | 0.00 | 128 |
2022-06-01 | $146,125 (12.7%) | $217,443 (18.4%) | 0.00 | 140 |
2022-07-01 | $159,000 (21.4%) | $211,791 (14.0%) | 0.00 | 107 |
2022-08-01 | $162,600 (35.5%) | $203,930 (14.2%) | 0.00 | 112 |
2022-09-01 | $163,475 (33.0%) | $203,997 (17.4%) | 0.00 | 132 |
2022-10-01 | $149,900 (11.0%) | $200,270 (6.0%) | 0.00 | 134 |
2022-11-01 | $139,900 (3.7%) | $187,741 (-5.5%) | 0.00 | 132 |
2022-12-01 | $129,900 (-5.4%) | $174,589 (-14.0%) | 0.00 | 108 |
2023-01-01 | $130,875 (0.8%) | $188,749 (-9.0%) | 0.00 | 103 |
2023-02-01 | $139,975 (9.2%) | $200,529 (-2.4%) | 0.00 | 105 |
2023-03-01 | $171,225 (31.8%) | $209,131 (-9.1%) | 0.00 | 99 |
2023-04-01 | $162,400 (10.1%) | $208,848 (-9.8%) | 0.00 | 92 |
2023-05-01 | $172,450 (15.0%) | $223,547 (-0.3%) | 0.00 | 113 |
2023-06-01 | $171,100 (17.1%) | $217,788 (0.2%) | 0.00 | 113 |
2023-07-01 | $170,000 (6.9%) | $205,997 (-2.7%) | 0.00 | 126 |
2023-08-01 | $163,725 (0.7%) | $192,413 (-5.7%) | 0.00 | 123 |
2023-09-01 | $169,900 (3.9%) | $204,493 (0.2%) | 0.00 | 115 |
2023-10-01 | $169,900 (13.3%) | $201,163 (0.5%) | 0.00 | 132 |
2023-11-01 | $148,500 (6.2%) | $184,784 (-1.6%) | 0.00 | 137 |
2023-12-01 | $145,000 (11.6%) | $179,092 (2.6%) | 0.00 | 131 |
2024-01-01 | $149,900 (14.5%) | $194,937 (3.3%) | 0.00 | 125 |
2024-02-01 | $142,450 (1.8%) | $185,292 (-7.6%) | 0.00 | 111 |
2024-03-01 | $149,450 (-12.7%) | $190,924 (-8.7%) | 0.00 | 121 |
2024-04-01 | $146,000 (-10.1%) | $206,873 (-1.0%) | 0.00 | 119 |
2024-05-01 | $167,350 (-3.0%) | $221,988 (-0.7%) | 0.00 | 116 |
2024-06-01 | $155,000 (-9.4%) | $218,693 (0.4%) | 0.00 | 125 |
2024-07-01 | $179,400 (5.5%) | $246,106 (19.5%) | 0.00 | 136 |
2024-08-01 | $169,950 (3.8%) | $240,082 (24.8%) | 0.00 | 118 |
2024-09-01 | $178,950 (5.3%) | $241,603 (18.2%) | 0.00 | 129 |
2024-10-01 | $187,450 (10.3%) | $250,328 (24.4%) | 0.00 | 135 |
Quincy's median listing price comes in at 0% of the national average.
Quincy's average listing price for 2024-10-01 was $250,328, a difference of $49,165 (24.4%) versus the prior year and $8,725 versus the prior month.
For the 2024-10-01 period, Quincy had 135 MLS listings, a difference of 6 listings (5%) versus the prior month and 3 listings (2%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Quincy (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,561 sqft |
2018-02-01 | 0 days | 1,574 sqft |
2018-03-01 | 0 days | 1,576 sqft |
2018-04-01 | 0 days | 1,587 sqft |
2018-05-01 | 0 days | 1,540 sqft |
2018-06-01 | 0 days | 1,576 sqft |
2018-07-01 | 0 days | 1,569 sqft |
2018-08-01 | 0 days | 1,600 sqft |
2018-09-01 | 0 days | 1,623 sqft |
2018-10-01 | 0 days | 1,611 sqft |
2018-11-01 | 0 days | 1,616 sqft |
2018-12-01 | 0 days | 1,600 sqft |
2019-01-01 | 0 days | 1,600 sqft |
2019-02-01 | 0 days | 1,596 sqft |
2019-03-01 | 0 days | 1,585 sqft |
2019-04-01 | 0 days | 1,586 sqft |
2019-05-01 | 0 days | 1,596 sqft |
2019-06-01 | 0 days | 1,604 sqft |
2019-07-01 | 0 days | 1,576 sqft |
2019-08-01 | 0 days | 1,581 sqft |
2019-09-01 | 0 days | 1,592 sqft |
2019-10-01 | 0 days | 1,600 sqft |
2019-11-01 | 0 days | 1,600 sqft |
2019-12-01 | 0 days | 1,644 sqft |
2020-01-01 | 0 days | 1,648 sqft |
2020-02-01 | 0 days | 1,650 sqft |
2020-03-01 | 0 days | 1,656 sqft |
2020-04-01 | 0 days | 1,629 sqft |
2020-05-01 | 0 days | 1,650 sqft |
2020-06-01 | 0 days | 1,655 sqft |
2020-07-01 | 0 days | 1,585 sqft |
2020-08-01 | 0 days | 1,561 sqft |
2020-09-01 | 0 days | 1,502 sqft |
2020-10-01 | 0 days | 1,530 sqft |
2020-11-01 | 0 days | 1,525 sqft |
2020-12-01 | 0 days | 1,484 sqft |
2021-01-01 | 0 days | 1,470 sqft |
2021-02-01 | 0 days | 1,477 sqft |
2021-03-01 | 0 days | 1,534 sqft |
2021-04-01 | 0 days | 1,530 sqft |
2021-05-01 | 0 days | 1,582 sqft |
2021-06-01 | 0 days | 1,613 sqft |
2021-07-01 | 0 days | 1,577 sqft |
2021-08-01 | 0 days | 1,482 sqft |
2021-09-01 | 0 days | 1,467 sqft |
2021-10-01 | 0 days | 1,482 sqft |
2021-11-01 | 0 days | 1,534 sqft |
2021-12-01 | 0 days | 1,550 sqft |
2022-01-01 | 0 days | 1,591 sqft |
2022-02-01 | 0 days | 1,542 sqft |
2022-03-01 | 0 days | 1,524 sqft |
2022-04-01 | 0 days | 1,596 sqft |
2022-05-01 | 0 days | 1,580 sqft |
2022-06-01 | 0 days | 1,455 sqft |
2022-07-01 | 0 days | 1,570 sqft |
2022-08-01 | 0 days | 1,636 sqft |
2022-09-01 | 0 days | 1,638 sqft |
2022-10-01 | 0 days | 1,631 sqft |
2022-11-01 | 0 days | 1,624 sqft |
2022-12-01 | 0 days | 1,600 sqft |
2023-01-01 | 0 days | 1,593 sqft |
2023-02-01 | 0 days | 1,634 sqft |
2023-03-01 | 0 days | 1,735 sqft |
2023-04-01 | 0 days | 1,727 sqft |
2023-05-01 | 0 days | 1,747 sqft |
2023-06-01 | 0 days | 1,703 sqft |
2023-07-01 | 0 days | 1,692 sqft |
2023-08-01 | 0 days | 1,694 sqft |
2023-09-01 | 0 days | 1,680 sqft |
2023-10-01 | 0 days | 1,578 sqft |
2023-11-01 | 0 days | 1,508 sqft |
2023-12-01 | 0 days | 1,531 sqft |
2024-01-01 | 0 days | 1,572 sqft |
2024-02-01 | 0 days | 1,552 sqft |
2024-03-01 | 0 days | 1,553 sqft |
2024-04-01 | 0 days | 1,454 sqft |
2024-05-01 | 0 days | 1,501 sqft |
2024-06-01 | 0 days | 1,536 sqft |
2024-07-01 | 0 days | 1,594 sqft |
2024-08-01 | 0 days | 1,637 sqft |
2024-09-01 | 0 days | 1,724 sqft |
2024-10-01 | 0 days | 1,754 sqft |
Quincy's median square footage for active listings during the 2024-10-01 period was 1,754 sqft. One year prior, the average listing was 1,578 sqft.