Salina FHA Loan Rates, Closing Costs & Stats

Salina, KS

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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.

    Salina's 33 lenders originated 129 FHA loans during 2024. The total origination value was $21,705,000, with an average FHA loan value of $168,256.

    Salina FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Salina averaged 6.58% for the week of 2026-07-24, compared to the national average (all FHA variants) of 6.391% for the same period.

    Salina's average FHA mortgage closing costs are $4,673.

    The average rate for the prior week (2026-07-17) was 6.61% and one month ago for the week of 2026-06-19, the average rate was 6.45%.

    The average rate one year ago was 6.62%.

    For refis of the same type during the week of 2026-07-24, the average rate was 6.19%.

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

    Salina 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 Salina level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    NBH Bank 30 6.34% $4,091
    MID AMERICA MORTGAGE, INC. 20 6.79% $6,363
    QUICKEN LOANS, LLC 13 6.64% $7,800
    Plains Commerce Bank 5 6.93% $5,569
    FREEDOM MORTGAGE CORPORATION 4 6.56% $7,810
    PENNYMAC LOAN SERVICES, LLC 4 6.66% $6,972
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.09% $8,724
    BROKER SOLUTIONS, INC. 3 7.08% $7,165
    Members Mortgage Services, L.L.C. 3 5.96% $6,271
    Mortgage Investment Services Corporation 3 6.38% $5,832
    AMERISAVE MORTGAGE CORPORATION 3 6.00% $8,844
    AMERICAN FINANCIAL NETWORK, INC. 2 6.69% $16,041
    American Mortgage & Equity Consultants, Inc. 2 6.62% $8,044
    LEADERONE FINANCIAL CORPORATION 2 6.69% $7,258
    LOANDEPOT.COM, LLC 2 6.56% $8,233
    Mortgage Research Center, LLC 2 7.44% $3,885
    NEWREZ LLC 2 6.00% $7,971
    Regent Financial Group, Inc. 2 6.50% $7,289
    UNITED WHOLESALE MORTGAGE, LLC 2 6.72% $4,846
    CREDIT UNION OF AMERICA 1 5.63% $5,566
    Bell Bank 1 6.63% $5,021
    U.S. Bank 1 6.63% $5,545
    Paramount Residential Mortgage Group, Inc. 1 5.63% $5,665
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.25% $6,548
    AMERICAN FINANCING CORPORATION 1 7.13% $7,414
    PREMIA MORTGAGE, LLC 1 6.25% $6,537
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.13% $6,309
    VILLAGE CAPITAL MORTGAGE 1 7.13% $2,077
    Sunflower Bank 1 5.99% $7,222
    JPMorgan Chase Bank 1 6.75% $7,242
    JLB CORPORATION 1 6.25% $13,447
    FLAT BRANCH MORTGAGE, INC. 1 6.63% $4,029
    Willamette Valley Bank 1 6.25% $12,195

    The top Salina FHA lender as defined by loan originations is NBH Bank, with 30 FHA loans originated. Their average total fees are $4,091, which is $2,272 lower than the next largest lender, MID AMERICA MORTGAGE, INC..

    The lowest fee Salina FHA lenders (with over 10 loans originated) are NBH Bank ($4,091), MID AMERICA MORTGAGE, INC. ($6,363), QUICKEN LOANS, LLC ($7,800), .

    The lowest rate Salina FHA lenders (with over 10 loans originated) are NBH Bank (6.34%), QUICKEN LOANS, LLC (6.64%), MID AMERICA MORTGAGE, INC. (6.79%), .

    Salina FHA Loan Limits

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

    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).