Sebastian FHA Loan Rates, Closing Costs & Stats

Sebastian-Vero Beach, FL

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).