Sebastian FHA Loan Rates, Closing Costs & Stats

Sebastian-Vero Beach, FL

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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.

    Sebastian's 97 lenders originated 550 FHA loans during 2024. The total origination value was $164,540,000, with an average FHA loan value of $299,164.

    Sebastian FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Sebastian averaged 0.21% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Sebastian's average FHA mortgage closing costs are $9,022.

    The average rate for the prior week (2025-06-27) was 6.9% and one month ago for the week of 2025-05-30, the average rate was 6.97%.

    The average rate one year ago was 6.69%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.29%.

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

    Sebastian 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 Sebastian level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 69 6.31% $13,396
    QUICKEN LOANS, LLC 52 6.24% $13,976
    FREEDOM MORTGAGE CORPORATION 25 6.31% $14,889
    DHI MORTGAGE COMPANY, LTD. 25 5.42% $10,635
    BAYSHORE MORTGAGE FUNDING, LLC 17 6.26% $13,903
    CROSSCOUNTRY MORTGAGE, LLC 17 6.71% $12,827
    UNION HOME MORTGAGE CORP. 12 6.31% $12,857
    LOANDEPOT.COM, LLC 12 6.12% $11,201
    PENNYMAC LOAN SERVICES, LLC 11 6.16% $11,373
    NEWREZ LLC 11 6.47% $11,708
    INSPIRE HOME LOANS INC. 10 5.31% $10,323
    FBC MORTGAGE, LLC 9 6.42% $12,468
    EVERETT FINANCIAL, INC. 9 6.79% $13,348
    MOVEMENT MORTGAGE, LLC 8 6.70% $14,002
    GUILD MORTGAGE COMPANY 8 6.36% $13,259
    TOTAL MORTGAGE SERVICES, LLC 8 6.39% $12,282
    Flagstar Bank, FSB 8 6.32% $11,325
    South State Bank 7 6.04% $13,615
    ACOPIA, LLC 6 7.00% $12,900
    CONTOUR MORTGAGE CORPORATION 6 6.40% $11,891
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.92% $13,061
    CARDINAL FINANCIAL 5 5.88% $11,573
    ZILLOW HOME LOANS, LLC 4 6.44% $13,785
    PLANET HOME LENDING, LLC 4 6.59% $8,453
    Equity Prime Mortgage LLC 4 6.16% $16,738
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.19% $21,734
    PLAZA HOME MORTGAGE, INC. 3 7.08% $13,134
    Carrington Mortgage Services, LLC 3 6.92% $16,450
    Century Mortgage Company DBA Century Lending Company 3 6.25% $18,108
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 6.00% $12,750
    GUARANTEED RATE, INC. 3 6.04% $15,065
    Pacific Lending LLC 3 6.54% $15,412
    Plains Commerce Bank 3 6.50% $11,056
    ABSOLUTE HOME MORTGAGE CORPORATION 3 6.58% $15,863
    SUN WEST MORTGAGE COMPANY, INC. 3 5.94% $14,446
    The Loan Store, Inc. 3 6.04% $13,349
    THE MORTGAGE FIRM, INC. 3 6.88% $10,792
    NVR Mortgage Finance, Inc. 2 5.81% $10,900
    City National Bank of Florida 2 5.94% $9,482
    LOANPAL, LLC 2 5.75% $12,244
    AMERISAVE MORTGAGE CORPORATION 2 6.19% $17,850
    BAY EQUITY LLC 2 6.00% $17,035
    Paramount Residential Mortgage Group, Inc. 2 6.44% $17,615
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $19,116
    Seacoast National Bank 2 6.69% $8,850
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.31% $15,728
    BROKER SOLUTIONS, INC. 2 7.00% $12,430
    GENEVA FINANCIAL, LLC 2 6.63% $10,106
    LAKEVIEW LOAN SERVICING, LLC 2 6.12% $12,402
    SWBC MORTGAGE CORPORATION 2 6.63% $11,979
    MY MORTGAGE, INC. 1 6.63% $11,051
    Nations Lending Corporation 1 6.75% $19,567
    NBKC BANK 1 6.38% $9,617
    NETWORK CAPITAL FUNDING CORPORATION 1 6.25% $12,203
    BAY CAPITAL MORTGAGE CORPORATION 1 6.00% $8,695
    NFM, INC. 1 6.75% $11,066
    Northpointe Bank 1 5.63% $8,778
    NORTHPOINT MORTGAGE, INC. 1 6.25% $11,331
    OCMBC, INC. 1 7.13% $18,282
    OPEN MORTGAGE, LLC 1 7.50% $17,540
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.88% $7,023
    Bank of England 1 5.63% $15,514
    ALKAN MORTGAGE CORPORATION 1 6.75% $21,183
    BANKING MORTGAGE SERVICES, B.M.S. CORP. 1 6.99% $18,796
    VILLAGE CAPITAL MORTGAGE 1 6.75% $5,349
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.75% $11,186
    AmRes Corporation 1 6.75% $5,768
    RELIANCE FIRST CAPITAL, LLC 1 6.50% $18,010
    RESIDENTIAL BANCORP 1 6.63% $12,417
    ROSS MORTGAGE CORPORATION 1 6.38% $16,475
    SPACE COAST Credit Union 1 6.88% $10,298
    V.I.P. MORTGAGE, INC. 1 5.75% $22,662
    Synovus Bank 1 5.75% $12,834
    Waterstone Mortgage Corporation 1 6.99% $16,189
    Acre Mortgage and Financial Inc 1 6.25% $19,740
    TIDEWATER MORTGAGE SERVICES, INC. 1 6.50% $11,509
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.88% $23,786
    EMM LOANS LLC 1 6.25% $17,528
    East Coast Capital Corp. 1 7.25% $13,465
    DIRECT MORTGAGE LOANS, LLC 1 6.38% $14,265
    Cornerstone First Mortgage, Inc 1 6.63% $14,959
    GARDNER FINANCIAL SERVICES, LTD. 1 6.25% $11,852
    TruHome Solutions, LLC 1 6.13% $10,880
    GSF Mortgage Corporation 1 6.88% $14,276
    GoPrime Mortgage, Inc. 1 6.13% $9,448
    Truist 1 6.25% $8,323
    HALLMARK HOME MORTGAGE, LLC 1 7.25% $12,032
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.13% $13,322
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.75% $11,360
    Home Loan Investment Bank, F.S.B. 1 6.63% $10,427
    JMAC LENDING, INC. 1 6.63% $16,134
    Lakeview Community Capital, LLC 1 6.25% $15,332
    BM Real Estate Services, Inc. 1 7.13% $14,602
    Loan Simple, Inc. 1 7.13% $17,767
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.75% $10,806
    MICHIGAN MUTUAL, INC. 1 6.63% $16,626
    MID AMERICA MORTGAGE, INC. 1 6.75% $7,678

    The top Sebastian FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 69 FHA loans originated. Their average total fees are $13,396, which is $580 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Sebastian FHA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. ($10,323), DHI MORTGAGE COMPANY, LTD. ($10,635), LOANDEPOT.COM, LLC ($11,201), PENNYMAC LOAN SERVICES, LLC ($11,373) and NEWREZ LLC ($11,708).

    The lowest rate Sebastian FHA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. (5.31%), DHI MORTGAGE COMPANY, LTD. (5.42%), LOANDEPOT.COM, LLC (6.12%), PENNYMAC LOAN SERVICES, LLC (6.16%) and QUICKEN LOANS, LLC (6.24%).

    Sebastian FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    SEBASTIAN-VERO BEACH, FL INDIAN RIVER 2022 $420,680 $538,650 $651,050 $809,150
    SEBASTIAN-VERO BEACH, FL INDIAN RIVER 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).