Sebring FHA Loan Rates, Closing Costs & Stats

SEBRING-AVON PARK, 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.

Sebring's 101 lenders originated 608 FHA loans during 2021. The total origination value was $108,320,000, with an average FHA loan value of $178,158.

Sebring FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Sebring averaged 6.26% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Sebring's average FHA mortgage closing costs are $6,294.

The average rate for the prior week (2022-11-25) was 6.48% and one month ago for the week of 2022-10-28, the average rate was 6.92%.

The average rate one year ago was 3.35%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.22%.

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

Sebring 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 Sebring level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 70 2.83% $6,328
CELEBRITY HOME LOANS, LLC 62 3.22% $7,364
CALIBER HOME LOANS, INC. 50 2.94% $6,902
FREEDOM MORTGAGE CORPORATION 24 2.92% $5,460
Paramount Residential Mortgage Group, Inc. 23 3.48% $8,438
FBC MORTGAGE, LLC 22 3.25% $8,538
Bell Bank 21 2.92% $6,415
UNITED WHOLESALE MORTGAGE, LLC 19 2.98% $6,757
Flagstar Bank, FSB 18 2.95% $7,654
NEWREZ LLC 14 2.76% $7,998
PLAZA HOME MORTGAGE, INC. 11 2.97% $6,874
Mr. Cooper ( Nationstar Mortgage ) 10 3.50% $4,399
CROSSCOUNTRY MORTGAGE, LLC 8 3.25% $8,484
PRIMARY RESIDENTIAL MORTGAGE, INC. 8 3.47% $8,579
VILLAGE CAPITAL MORTGAGE 7 3.16% $1,547
AmeriHome Mortgage Company, LLC 7 3.12% $3,858
BROKER SOLUTIONS, INC. 6 3.25% $6,687
THE MORTGAGE FIRM, INC. 6 3.12% $9,753
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 5 3.17% $7,685
NTFN, INC. 5 3.43% $8,018
LAKEVIEW LOAN SERVICING, LLC 5 3.18% $3,794
Hometown Equity Mortgage, LLC 5 4.10% $8,327
South State Bank 5 2.80% $7,520
LOANDEPOT.COM, LLC 5 3.62% $7,388
PENNYMAC LOAN SERVICES, LLC 4 3.56% $4,192
HAMILTON HOME LOANS, INC. 4 3.22% $6,962
HOME POINT FINANCIAL CORPORATION 4 2.90% $6,419
AMERICAN FINANCIAL NETWORK, INC. 4 2.75% $11,669
Lakeview Community Capital, LLC 4 3.16% $4,320
PLANET HOME LENDING, LLC 3 2.71% $4,759
Century Mortgage Company DBA Century Lending Company 3 2.63% $7,085
Carrington Mortgage Services, LLC 3 3.17% $8,535
PREFERRED LENDING SERVICES, LLC 3 3.25% $6,338
Plains Commerce Bank 3 3.21% $6,700
HOMESIDE FINANCIAL, LLC 2 3.13% $8,960
HOME SOLUTION LENDERS INC. 2 2.75% $9,544
Equity Prime Mortgage LLC 2 3.31% $6,737
CROSSFIRE FINANCIAL NETWORK, INC. 2 3.06% $6,158
First Guaranty Mortgage Corporation 2 3.13% $5,786
First Home Bank 2 3.50% $8,329
FINANCE OF AMERICA MORTGAGE LLC 2 3.63% $6,839
NATIONS RELIABLE LENDING, LLC 2 3.50% $7,764
Nations Lending Corporation 2 3.25% $7,880
Gateway First Bank 2 3.38% $7,229
NATIONS DIRECT MORTGAGE, LLC 2 3.00% $4,407
Regions Bank 2 2.94% $7,718
RUOFF MORTGAGE COMPANY, INC. 2 3.13% $5,164
Citizens Bank 2 2.63% $7,726
GSF Mortgage Corporation 2 3.50% $10,326
TOWNE MORTGAGE COMPANY 2 3.69% $6,596
CMG MORTGAGE, INC. 2 2.50% $7,313
Mortgage Research Center, LLC 2 3.06% $7,415
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 3.25% $10,390
Mortgage Lenders Investment Trading Corporation 2 3.00% $4,459
ZILLOW HOME LOANS, LLC 1 3.13% $6,601
AMERICAN FINANCING CORPORATION 1 3.25% $9,077
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.63% $9,341
AMERIFIRST FINANCIAL CORPORATION 1 3.25% $8,634
AMERISAVE MORTGAGE CORPORATION 1 3.25% $7,001
Ameris Bank 1 2.88% $4,271
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.88% $6,168
Bank of America 1 2.75% $2,027
CHURCHILL MORTGAGE CORPORATION 1 2.25% $8,045
COUNTRYPLACE MORTGAGE, LTD. 1 4.25% $14,065
DELMAR FINANCIAL COMPANY 1 3.13% $7,497
EAGLE HOME MORTGAGE, LLC 1 2.25% $10,024
EMBRACE HOME LOANS, INC. 1 2.50% $7,665
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.38% $12,087
FIRST CENTENNIAL MORTGAGE CORPORATION 1 3.25% $5,352
FIRST EQUITY MORTGAGE BANKERS, INC. 1 3.75% $11,961
GENEVA FINANCIAL, LLC 1 3.13% $7,587
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.75% $5,488
GROUP ONE MORTGAGE, INC. 1 3.50% $9,322
GUARANTEED RATE, INC. 1 3.75% $6,838
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.50% $9,421
Hometown Lenders, Inc. 1 3.38% $7,093
InterContinental Capital Group, Inc 1 3.00% $5,619
LENDUS, LLC 1 3.38% $8,754
LIBERTY HOME MORTGAGE CORPORATION 1 3.25% $11,443
LOANPAL, LLC 1 2.75% $7,109
MID AMERICA MORTGAGE, INC. 1 2.75% $6,771
MORIA DEVELOPMENT, INC. 1 3.75% $7,130
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.00% $6,824
NFM, INC. 1 3.13% $10,979
OCMBC, INC. 1 3.50% $7,050
PANORAMA MORTGAGE GROUP, LLC 1 3.50% $7,677
Paramount Bank 1 2.75% $7,132
Peoples Bank 1 3.25% $5,724
PHH Mortgage Corporation 1 3.50% $2,781
Princeton Mortgage Corporation 1 3.50% $5,686
Quaint Oak Mortgage, LLC 1 2.75% $5,759
SPACE COAST Credit Union 1 3.00% $5,248
SUCCESS MORTGAGE PARTNERS, INC. 1 3.50% $6,369
T2 FINANCIAL LLC 1 2.50% $11,406
The Home Loan Expert LLC 1 2.88% $10,199
UNION HOME MORTGAGE CORP. 1 2.50% $11,544
VANDERBILT MORTGAGE AND FINANCE, INC. 1 3.13% $6,926
VAN DYK MORTGAGE CORPORATION 1 3.25% $11,916
Waterstone Mortgage Corporation 1 3.63% $10,310
WATSON MORTGAGE CORP. 1 3.25% $7,461
A&D Mortgage LLC 1 2.88% $11,168

The top Sebring FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 70 FHA loans originated. Their average total fees are $6,328, which is $1,036 lower than the next largest lender, CELEBRITY HOME LOANS, LLC.

The lowest fee Sebring FHA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($4,399), FREEDOM MORTGAGE CORPORATION ($5,460), QUICKEN LOANS, LLC ($6,328), Bell Bank ($6,415) and UNITED WHOLESALE MORTGAGE, LLC ($6,757).

The lowest rate Sebring FHA lenders (with over 10 loans originated) are NEWREZ LLC (2.76%), QUICKEN LOANS, LLC (2.83%), FREEDOM MORTGAGE CORPORATION (2.92%), Bell Bank (2.92%) and CALIBER HOME LOANS, INC. (2.94%).

Sebring FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
SEBRING-AVON PARK, FL HIGHLANDS 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Sebring (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 $174,900 (1.7%) $206,309 (-5.4%) 0.00 550
2018-02-01 $179,450 (2.6%) $214,871 (-2.6%) 0.00 562
2018-03-01 $179,000 (2.6%) $217,322 (-0.9%) 0.00 537
2018-04-01 $175,675 (0.4%) $218,815 (-1.8%) 0.00 533
2018-05-01 $179,000 (2.3%) $223,195 (-0.1%) 0.00 512
2018-06-01 $186,500 (4.4%) $231,946 (2.7%) 0.00 497
2018-07-01 $193,350 (13.8%) $240,071 (9.1%) 0.00 504
2018-08-01 $188,500 (11.4%) $232,906 (8.2%) 0.00 523
2018-09-01 $185,000 (5.8%) $222,731 (2.5%) 0.00 563
2018-10-01 $179,950 (5.3%) $222,213 (3.2%) 0.00 576
2018-11-01 $184,975 (5.8%) $233,342 (9.3%) 0.00 594
2018-12-01 $186,000 (9.5%) $238,715 (16.0%) 0.00 659
2019-01-01 $185,450 (6.0%) $238,471 (15.6%) 0.00 652
2019-02-01 $185,000 (3.1%) $241,170 (12.2%) 0.00 682
2019-03-01 $184,943 (3.3%) $238,030 (9.5%) 0.00 669
2019-04-01 $186,125 (6.0%) $237,682 (8.6%) 0.00 630
2019-05-01 $185,000 (3.4%) $235,440 (5.5%) 0.00 605
2019-06-01 $189,000 (1.3%) $233,407 (0.6%) 0.00 535
2019-07-01 $186,225 (-3.7%) $231,505 (-3.6%) 0.00 521
2019-08-01 $185,427 (-1.6%) $230,851 (-0.9%) 0.00 526
2019-09-01 $182,318 (-1.5%) $231,209 (3.8%) 0.00 528
2019-10-01 $179,900 (0.0%) $231,339 (4.1%) 0.00 538
2019-11-01 $184,900 (0.0%) $230,672 (-1.1%) 0.00 542
2019-12-01 $189,900 (2.1%) $239,071 (0.2%) 0.00 543
2020-01-01 $194,222 (4.7%) $244,578 (2.6%) 0.00 515
2020-02-01 $191,947 (3.8%) $237,999 (-1.3%) 0.00 536
2020-03-01 $194,800 (5.3%) $238,282 (0.1%) 0.00 545
2020-04-01 $185,000 (-0.6%) $228,486 (-3.9%) 0.00 532
2020-05-01 $184,997 (0.0%) $228,835 (-2.8%) 0.00 470
2020-06-01 $181,475 (-4.0%) $227,980 (-2.3%) 0.00 430
2020-07-01 $186,975 (0.4%) $224,238 (-3.1%) 0.00 375
2020-08-01 $194,900 (5.1%) $233,648 (1.2%) 0.00 339
2020-09-01 $197,725 (8.5%) $240,907 (4.2%) 0.00 308
2020-10-01 $185,450 (3.1%) $236,708 (2.3%) 0.00 294
2020-11-01 $198,250 (7.2%) $242,762 (5.2%) 0.00 286
2020-12-01 $198,450 (4.5%) $247,079 (3.4%) 0.00 293
2021-01-01 $195,000 (0.4%) $255,166 (4.3%) 0.00 304
2021-02-01 $199,900 (4.1%) $255,159 (7.2%) 0.00 288
2021-03-01 $216,950 (11.4%) $267,155 (12.1%) 0.00 262
2021-04-01 $208,425 (12.7%) $285,775 (25.1%) 0.00 208
2021-05-01 $224,950 (21.6%) $296,262 (29.5%) 0.00 197
2021-06-01 $224,950 (24.0%) $4,352,803 (1,809.3%) 0.00 196
2021-07-01 $234,900 (25.6%) $3,840,152 (1,612.5%) 0.00 238
2021-08-01 $249,925 (28.2%) $319,142 (36.6%) 0.00 255
2021-09-01 $252,450 (27.7%) $319,681 (32.7%) 0.00 245
2021-10-01 $249,900 (34.8%) $316,764 (33.8%) 0.00 260
2021-11-01 $269,900 (36.1%) $334,904 (38.0%) 0.00 241
2021-12-01 $264,950 (33.5%) $339,649 (37.5%) 0.00 233
2022-01-01 $269,990 (38.5%) $344,324 (34.9%) 0.00 222
2022-02-01 $277,400 (38.8%) $364,005 (42.7%) 0.00 213
2022-03-01 $284,950 (31.3%) $391,933 (46.7%) 0.00 210
2022-04-01 $279,900 (34.3%) $371,756 (30.1%) 0.00 254
2022-05-01 $287,000 (27.6%) $374,768 (26.5%) 0.00 281
2022-06-01 $292,159 (29.9%) $363,349 (-91.7%) 0.00 310
2022-07-01 $289,634 (23.3%) $359,049 (-90.7%) 0.00 366
2022-08-01 $297,250 (18.9%) $356,682 (11.8%) 0.00 382
2022-09-01 $298,555 (18.3%) $349,525 (9.3%) 0.00 402
2022-10-01 $299,000 (19.7%) $360,139 (13.7%) 0.00 391
2022-11-01 $291,220 (7.9%) $360,931 (7.8%) 0.00 412
Sebring's median listing price for 2022-11-01 was $291,220, a difference of $21,320 (7.9%) versus the prior year and $-7,780 versus the prior month.

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

Sebring's average listing price for 2022-11-01 was $360,931, a difference of $26,027 (7.8%) versus the prior year and $792 versus the prior month.

For the 2022-11-01 period, Sebring had 412 MLS listings, a difference of 21 listings (5%) versus the prior month and 171 listings (71%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Sebring (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,240 sqft
2018-02-01 0 days 2,271 sqft
2018-03-01 0 days 2,246 sqft
2018-04-01 0 days 2,235 sqft
2018-05-01 0 days 2,227 sqft
2018-06-01 0 days 2,244 sqft
2018-07-01 0 days 2,252 sqft
2018-08-01 0 days 2,236 sqft
2018-09-01 0 days 2,204 sqft
2018-10-01 0 days 2,230 sqft
2018-11-01 0 days 2,233 sqft
2018-12-01 0 days 1,647 sqft
2019-01-01 0 days 1,648 sqft
2019-02-01 0 days 1,650 sqft
2019-03-01 0 days 1,654 sqft
2019-04-01 0 days 1,655 sqft
2019-05-01 0 days 1,623 sqft
2019-06-01 0 days 1,644 sqft
2019-07-01 0 days 1,638 sqft
2019-08-01 0 days 1,641 sqft
2019-09-01 0 days 1,636 sqft
2019-10-01 0 days 1,631 sqft
2019-11-01 0 days 1,623 sqft
2019-12-01 0 days 1,652 sqft
2020-01-01 0 days 1,675 sqft
2020-02-01 0 days 1,653 sqft
2020-03-01 0 days 1,637 sqft
2020-04-01 0 days 1,593 sqft
2020-05-01 0 days 1,594 sqft
2020-06-01 0 days 1,572 sqft
2020-07-01 0 days 1,599 sqft
2020-08-01 0 days 1,563 sqft
2020-09-01 0 days 1,575 sqft
2020-10-01 0 days 1,574 sqft
2020-11-01 0 days 1,570 sqft
2020-12-01 0 days 1,571 sqft
2021-01-01 0 days 1,569 sqft
2021-02-01 0 days 1,569 sqft
2021-03-01 0 days 1,618 sqft
2021-04-01 0 days 1,589 sqft
2021-05-01 0 days 1,599 sqft
2021-06-01 0 days 1,582 sqft
2021-07-01 0 days 1,630 sqft
2021-08-01 0 days 1,647 sqft
2021-09-01 0 days 1,641 sqft
2021-10-01 0 days 1,592 sqft
2021-11-01 0 days 1,641 sqft
2021-12-01 0 days 1,628 sqft
2022-01-01 0 days 1,642 sqft
2022-02-01 0 days 1,623 sqft
2022-03-01 0 days 1,624 sqft
2022-04-01 0 days 1,590 sqft
2022-05-01 0 days 1,546 sqft
2022-06-01 0 days 1,572 sqft
2022-07-01 0 days 1,534 sqft
2022-08-01 0 days 1,564 sqft
2022-09-01 0 days 1,585 sqft
2022-10-01 0 days 1,583 sqft
2022-11-01 0 days 1,583 sqft
Sebring's median listing age (time on market) for 2022-11-01 was 0 days.

Sebring's median square footage for active listings during the 2022-11-01 period was 1,583 sqft. One year prior, the average listing was 1,641 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).