Sandusky FHA Loan Rates, Closing Costs & Stats

Sandusky, OH

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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.

    Sandusky's 42 lenders originated 165 FHA loans during 2023. The total origination value was $27,435,000, with an average FHA loan value of $166,273.

    Sandusky FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Sandusky averaged 6.61% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Sandusky's average FHA mortgage closing costs are $6,510.

    The average rate for the prior week (2025-02-07) was 6.52% and one month ago for the week of 2025-01-10, the average rate was 6.79%.

    The average rate one year ago was 6.61%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.32%.

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

    Sandusky 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 Sandusky level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 36 6.35% $8,404
    CROSSCOUNTRY MORTGAGE, LLC 15 6.98% $9,500
    UNION HOME MORTGAGE CORP. 11 7.00% $8,513
    UNION CAPITAL MORTGAGE CORPORATION 9 7.21% $9,912
    PLAZA HOME MORTGAGE, INC. 5 6.55% $8,438
    MYCUMORTGAGE, LLC 5 6.68% $6,038
    Civista Bank 5 6.15% $6,240
    LOANDEPOT.COM, LLC 4 7.25% $8,250
    YOUR HOME FINANCIAL LLC 4 7.38% $8,993
    AMERISAVE MORTGAGE CORPORATION 3 6.08% $10,841
    LIBERTY HOME MORTGAGE CORPORATION 3 7.08% $6,741
    UNITED WHOLESALE MORTGAGE, LLC 3 6.20% $6,488
    FREEDOM MORTGAGE CORPORATION 3 7.42% $10,709
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $14,260
    Dollar Bank, Federal Savings Bank 2 6.38% $6,432
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.19% $9,536
    Fifth Third Bank 2 6.25% $6,546
    GUARANTEED RATE, INC. 2 6.75% $7,766
    KeyBank 2 7.00% $6,122
    MID AMERICA MORTGAGE, INC. 2 7.13% $6,635
    Nations Lending Corporation 2 7.50% $4,960
    NEWREZ LLC 2 7.19% $10,082
    TOP FLITE FINANCIAL, INC. 2 7.25% $8,169
    V.I.P. MORTGAGE, INC. 2 6.69% $11,167
    U.S. Bank 1 7.63% $6,217
    VILLAGE CAPITAL MORTGAGE 1 6.25% $2,239
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 7.00% $15,086
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 8.00% $12,092
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.63% $8,454
    ENDEAVOR CAPITAL, LLC. 1 6.49% $8,345
    RELIANCE FIRST CAPITAL, LLC 1 6.00% $10,426
    Residential Mortgage Solutions, Inc. 1 6.88% $10,969
    RUOFF MORTGAGE COMPANY, INC. 1 6.38% $6,964
    The Huntington National Bank 1 6.88% $5,175
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $9,694
    DRAPER AND KRAMER MORTGAGE CORP. 1 7.75% $6,227
    BROKER SOLUTIONS, INC. 1 6.75% $6,003
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $8,224
    Barrington Bank & Trust Company, N.A. 1 6.25% $9,651
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $9,502
    KELLER MORTGAGE, LLC 1 5.75% $7,809
    NATIONS DIRECT MORTGAGE, LLC 1 6.75% $6,545

    The top Sandusky FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 36 FHA loans originated. Their average total fees are $8,404, which is $1,096 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Sandusky FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,404), UNION HOME MORTGAGE CORP. ($8,513), CROSSCOUNTRY MORTGAGE, LLC ($9,500), .

    The lowest rate Sandusky FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.35%), CROSSCOUNTRY MORTGAGE, LLC (6.98%), UNION HOME MORTGAGE CORP. (7.00%), .

    Sandusky FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Sandusky (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 $191,675 (5.1%) $282,438 (13.9%) 0.00 645
    2018-02-01 $208,250 (9.7%) $288,595 (14.0%) 0.00 623
    2018-03-01 $215,000 (11.7%) $297,836 (14.6%) 0.00 601
    2018-04-01 $229,450 (15.9%) $306,533 (17.4%) 0.00 630
    2018-05-01 $229,000 (15.1%) $306,161 (16.4%) 0.00 661
    2018-06-01 $229,900 (15.1%) $305,318 (12.7%) 0.00 681
    2018-07-01 $227,389 (13.7%) $300,752 (9.6%) 0.00 663
    2018-08-01 $227,225 (16.5%) $306,290 (15.4%) 0.00 657
    2018-09-01 $224,500 (12.5%) $308,238 (13.7%) 0.00 651
    2018-10-01 $219,450 (9.8%) $303,655 (10.5%) 0.00 641
    2018-11-01 $210,350 (5.5%) $295,539 (2.5%) 0.00 606
    2018-12-01 $210,000 (9.4%) $296,363 (-8.9%) 0.00 561
    2019-01-01 $209,750 (9.4%) $288,933 (2.3%) 0.00 562
    2019-02-01 $206,625 (-0.8%) $283,656 (-1.7%) 0.00 571
    2019-03-01 $215,821 (0.4%) $290,984 (-2.3%) 0.00 566
    2019-04-01 $229,075 (-0.2%) $300,941 (-1.8%) 0.00 554
    2019-05-01 $235,225 (2.7%) $296,101 (-3.3%) 0.00 575
    2019-06-01 $249,000 (8.3%) $305,034 (-0.1%) 0.00 609
    2019-07-01 $248,375 (9.2%) $307,276 (2.2%) 0.00 627
    2019-08-01 $239,900 (5.6%) $305,193 (-0.4%) 0.00 605
    2019-09-01 $239,900 (6.9%) $309,783 (0.5%) 0.00 580
    2019-10-01 $239,900 (9.3%) $312,785 (3.0%) 0.00 556
    2019-11-01 $239,900 (14.1%) $306,244 (3.6%) 0.00 532
    2019-12-01 $238,175 (13.4%) $306,511 (3.4%) 0.00 496
    2020-01-01 $236,550 (12.8%) $306,505 (6.1%) 0.00 479
    2020-02-01 $239,900 (16.1%) $309,400 (9.1%) 0.00 474
    2020-03-01 $266,600 (23.5%) $319,822 (9.9%) 0.00 465
    2020-04-01 $269,900 (17.8%) $334,657 (11.2%) 0.00 448
    2020-05-01 $274,900 (16.9%) $340,449 (15.0%) 0.00 413
    2020-06-01 $269,900 (8.4%) $342,795 (12.4%) 0.00 388
    2020-07-01 $284,500 (14.5%) $354,925 (15.5%) 0.00 365
    2020-08-01 $299,000 (24.6%) $356,480 (16.8%) 0.00 330
    2020-09-01 $269,450 (12.3%) $337,290 (8.9%) 0.00 320
    2020-10-01 $254,900 (6.3%) $341,129 (9.1%) 0.00 320
    2020-11-01 $247,900 (3.3%) $339,936 (11.0%) 0.00 285
    2020-12-01 $254,950 (7.0%) $341,048 (11.3%) 0.00 262
    2021-01-01 $249,950 (5.7%) $335,446 (9.4%) 0.00 248
    2021-02-01 $252,500 (5.3%) $350,339 (13.2%) 0.00 195
    2021-03-01 $270,775 (1.6%) $380,648 (19.0%) 0.00 187
    2021-04-01 $273,700 (1.4%) $392,664 (17.3%) 0.00 198
    2021-05-01 $263,000 (-4.3%) $377,900 (11.0%) 0.00 213
    2021-06-01 $268,450 (-0.5%) $387,396 (13.0%) 0.00 219
    2021-07-01 $249,900 (-12.2%) $369,237 (4.0%) 0.00 251
    2021-08-01 $277,500 (-7.2%) $410,133 (15.1%) 0.00 239
    2021-09-01 $280,000 (3.9%) $422,285 (25.2%) 0.00 235
    2021-10-01 $260,000 (2.0%) $402,645 (18.0%) 0.00 247
    2021-11-01 $270,333 (9.1%) $415,431 (22.2%) 0.00 242
    2021-12-01 $267,400 (4.9%) $430,902 (26.4%) 0.00 206
    2022-01-01 $299,900 (20.0%) $466,718 (39.1%) 0.00 167
    2022-02-01 $318,742 (26.2%) $459,124 (31.1%) 0.00 157
    2022-03-01 $318,450 (17.6%) $501,382 (31.7%) 0.00 149
    2022-04-01 $307,400 (12.3%) $493,057 (25.6%) 0.00 173
    2022-05-01 $330,950 (25.8%) $465,629 (23.2%) 0.00 190
    2022-06-01 $349,250 (30.1%) $473,940 (22.3%) 0.00 197
    2022-07-01 $319,950 (28.0%) $446,018 (20.8%) 0.00 228
    2022-08-01 $308,675 (11.2%) $439,167 (7.1%) 0.00 221
    2022-09-01 $294,250 (5.1%) $428,788 (1.5%) 0.00 208
    2022-10-01 $265,000 (1.9%) $392,108 (-2.6%) 0.00 232
    2022-11-01 $269,900 (-0.2%) $401,277 (-3.4%) 0.00 223
    2022-12-01 $275,000 (2.8%) $441,772 (2.5%) 0.00 198
    2023-01-01 $294,000 (-2.0%) $498,734 (6.9%) 0.00 176
    2023-02-01 $351,900 (10.4%) $524,526 (14.2%) 0.00 167
    2023-03-01 $391,575 (23.0%) $539,328 (7.6%) 0.00 202
    2023-04-01 $386,950 (25.9%) $518,198 (5.1%) 0.00 209
    2023-05-01 $364,725 (10.2%) $507,077 (8.9%) 0.00 232
    2023-06-01 $399,000 (14.2%) $522,788 (10.3%) 0.00 244
    2023-07-01 $399,000 (24.7%) $531,068 (19.1%) 0.00 241
    2023-08-01 $387,998 (25.7%) $495,642 (12.9%) 0.00 268
    2023-09-01 $374,500 (27.3%) $458,685 (7.0%) 0.00 274
    2023-10-01 $372,250 (40.5%) $478,183 (22.0%) 0.00 269
    2023-11-01 $359,950 (33.4%) $490,692 (22.3%) 0.00 256
    2023-12-01 $369,500 (34.4%) $500,514 (13.3%) 0.00 237
    2024-01-01 $371,950 (26.5%) $554,883 (11.3%) 0.00 230
    2024-02-01 $392,200 (11.5%) $588,316 (12.2%) 0.00 213
    2024-03-01 $396,950 (1.4%) $587,106 (8.9%) 0.00 240
    2024-04-01 $431,733 (11.6%) $575,912 (11.1%) 0.00 259
    2024-05-01 $448,000 (22.8%) $636,605 (25.5%) 0.00 269
    2024-06-01 $429,900 (7.7%) $621,233 (18.8%) 0.00 298
    2024-07-01 $421,200 (5.6%) $598,130 (12.6%) 0.00 300
    2024-08-01 $399,900 (3.1%) $580,067 (17.0%) 0.00 291
    2024-09-01 $347,925 (-7.1%) $535,187 (16.7%) 0.00 278
    2024-10-01 $354,975 (-4.6%) $537,146 (12.3%) 0.00 309
    2024-11-01 $347,900 (-3.4%) $537,607 (9.6%) 0.00 308
    2024-12-01 $349,975 (-5.3%) $515,371 (3.0%) 0.00 272
    2025-01-01 $347,475 (-6.6%) $500,476 (-9.8%) 0.00 244
    Sandusky's median listing price for 2025-01-01 was $347,475, a difference of $-24,475 (-6.6%) versus the prior year and $-2,500 versus the prior month.

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

    Sandusky's average listing price for 2025-01-01 was $500,476, a difference of $-54,407 (-9.8%) versus the prior year and $-14,895 versus the prior month.

    For the 2025-01-01 period, Sandusky had 244 MLS listings, a difference of -28 listings (-10%) versus the prior month and 14 listings (6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Sandusky (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,622 sqft
    2018-02-01 0 days 1,630 sqft
    2018-03-01 0 days 1,640 sqft
    2018-04-01 0 days 1,669 sqft
    2018-05-01 0 days 1,634 sqft
    2018-06-01 0 days 1,650 sqft
    2018-07-01 0 days 1,718 sqft
    2018-08-01 0 days 1,721 sqft
    2018-09-01 0 days 1,712 sqft
    2018-10-01 0 days 1,717 sqft
    2018-11-01 0 days 1,705 sqft
    2018-12-01 0 days 1,681 sqft
    2019-01-01 0 days 1,690 sqft
    2019-02-01 0 days 1,658 sqft
    2019-03-01 0 days 1,690 sqft
    2019-04-01 0 days 1,718 sqft
    2019-05-01 0 days 1,655 sqft
    2019-06-01 0 days 1,694 sqft
    2019-07-01 0 days 1,700 sqft
    2019-08-01 0 days 1,720 sqft
    2019-09-01 0 days 1,755 sqft
    2019-10-01 0 days 1,779 sqft
    2019-11-01 0 days 1,769 sqft
    2019-12-01 0 days 1,785 sqft
    2020-01-01 0 days 1,766 sqft
    2020-02-01 0 days 1,656 sqft
    2020-03-01 0 days 1,705 sqft
    2020-04-01 0 days 1,714 sqft
    2020-05-01 0 days 1,741 sqft
    2020-06-01 0 days 1,718 sqft
    2020-07-01 0 days 1,705 sqft
    2020-08-01 0 days 1,773 sqft
    2020-09-01 0 days 1,752 sqft
    2020-10-01 0 days 1,740 sqft
    2020-11-01 0 days 1,737 sqft
    2020-12-01 0 days 1,770 sqft
    2021-01-01 0 days 1,608 sqft
    2021-02-01 0 days 1,594 sqft
    2021-03-01 0 days 1,653 sqft
    2021-04-01 0 days 1,686 sqft
    2021-05-01 0 days 1,651 sqft
    2021-06-01 0 days 1,655 sqft
    2021-07-01 0 days 1,682 sqft
    2021-08-01 0 days 1,750 sqft
    2021-09-01 0 days 1,766 sqft
    2021-10-01 0 days 1,724 sqft
    2021-11-01 0 days 1,750 sqft
    2021-12-01 0 days 1,742 sqft
    2022-01-01 0 days 1,786 sqft
    2022-02-01 0 days 1,833 sqft
    2022-03-01 0 days 1,775 sqft
    2022-04-01 0 days 1,768 sqft
    2022-05-01 0 days 1,725 sqft
    2022-06-01 0 days 1,815 sqft
    2022-07-01 0 days 1,763 sqft
    2022-08-01 0 days 1,800 sqft
    2022-09-01 0 days 1,867 sqft
    2022-10-01 0 days 1,720 sqft
    2022-11-01 0 days 1,649 sqft
    2022-12-01 0 days 1,632 sqft
    2023-01-01 0 days 1,653 sqft
    2023-02-01 0 days 1,598 sqft
    2023-03-01 0 days 1,622 sqft
    2023-04-01 0 days 1,554 sqft
    2023-05-01 0 days 1,546 sqft
    2023-06-01 0 days 1,627 sqft
    2023-07-01 0 days 1,640 sqft
    2023-08-01 0 days 1,627 sqft
    2023-09-01 0 days 1,668 sqft
    2023-10-01 0 days 1,659 sqft
    2023-11-01 0 days 1,629 sqft
    2023-12-01 0 days 1,688 sqft
    2024-01-01 0 days 1,751 sqft
    2024-02-01 0 days 1,759 sqft
    2024-03-01 0 days 1,748 sqft
    2024-04-01 0 days 1,724 sqft
    2024-05-01 0 days 1,717 sqft
    2024-06-01 0 days 1,718 sqft
    2024-07-01 0 days 1,732 sqft
    2024-08-01 0 days 1,765 sqft
    2024-09-01 0 days 1,645 sqft
    2024-10-01 0 days 1,683 sqft
    2024-11-01 0 days 1,647 sqft
    2024-12-01 0 days 1,718 sqft
    2025-01-01 0 days 1,685 sqft
    Sandusky's median listing age (time on market) for 2025-01-01 was 0 days.

    Sandusky's median square footage for active listings during the 2025-01-01 period was 1,685 sqft. One year prior, the average listing was 1,751 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).