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 84 lenders originated 406 FHA
loans during 2022. The total origination value was $79,950,000, with an average FHA loan value of
$196,921.
Sebring FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Sebring
averaged
6.73%
for the week of 2023-12-01, compared to the national average (all FHA variants) of
6.949% for the same period.
Sebring's average FHA mortgage closing costs are $6,906.
The average rate for the prior week (2023-11-24) was
6.54% and
one month ago for the week of 2023-10-27, the
average rate was 7.15%.
The average rate one year ago was 6.17%.
For refis of the same type during the week of 2023-12-01, the average rate
was 5.96%.
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 |
2022 Avg. 30yFix Rate |
2022 Avg. Closing Costs |
QUICKEN LOANS, LLC
|
54
|
4.56%
|
$9,182
|
UNITED WHOLESALE MORTGAGE, LLC
|
40
|
4.86%
|
$9,308
|
FREEDOM MORTGAGE CORPORATION
|
19
|
5.05%
|
$8,919
|
CALIBER HOME LOANS, INC.
|
19
|
4.26%
|
$8,301
|
Flagstar Bank, FSB
|
18
|
4.81%
|
$10,397
|
LOANDEPOT.COM, LLC
|
14
|
4.84%
|
$10,339
|
Bell Bank
|
14
|
4.37%
|
$7,805
|
Equity Prime Mortgage LLC
|
10
|
6.09%
|
$12,984
|
CROSSCOUNTRY MORTGAGE, LLC
|
9
|
5.19%
|
$8,932
|
Paramount Residential Mortgage Group, Inc.
|
9
|
4.82%
|
$11,348
|
THE MORTGAGE FIRM, INC.
|
9
|
5.10%
|
$9,204
|
Carrington Mortgage Services, LLC
|
8
|
4.67%
|
$10,161
|
FBC MORTGAGE, LLC
|
8
|
5.75%
|
$11,729
|
CARDINAL FINANCIAL
|
8
|
5.30%
|
$10,779
|
PENNYMAC LOAN SERVICES, LLC
|
8
|
3.98%
|
$8,983
|
NEWREZ LLC
|
5
|
5.03%
|
$6,267
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
5
|
6.08%
|
$12,459
|
HOME SOLUTION LENDERS INC.
|
5
|
4.33%
|
$10,133
|
NTFN, INC.
|
4
|
4.72%
|
$7,596
|
BROKER SOLUTIONS, INC.
|
4
|
4.63%
|
$9,971
|
Nations Lending Corporation
|
4
|
5.63%
|
$8,858
|
Sierra Pacific Mortgage Company, Inc.
|
4
|
4.53%
|
$7,652
|
Hometown Equity Mortgage, LLC
|
3
|
5.08%
|
$9,048
|
MOVEMENT MORTGAGE, LLC
|
3
|
4.79%
|
$13,152
|
AMERISAVE MORTGAGE CORPORATION
|
3
|
4.83%
|
$12,184
|
EVERETT FINANCIAL, INC.
|
3
|
5.50%
|
$6,777
|
Plains Commerce Bank
|
3
|
4.46%
|
$12,695
|
LOANPAL, LLC
|
2
|
4.25%
|
$13,411
|
MID AMERICA MORTGAGE, INC.
|
2
|
5.25%
|
$10,174
|
Mortgage Research Center, LLC
|
2
|
3.88%
|
$5,730
|
AMERICAN FINANCING CORPORATION
|
2
|
5.63%
|
$8,629
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
2
|
5.06%
|
$11,805
|
CROSSFIRE FINANCIAL NETWORK, INC.
|
2
|
5.12%
|
$11,940
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
2
|
4.44%
|
$12,988
|
South State Bank
|
2
|
3.94%
|
$7,547
|
EMM LOANS LLC
|
2
|
5.38%
|
$11,510
|
Lakeview Community Capital, LLC
|
2
|
4.50%
|
$6,936
|
Town Square Mortgage & Investments, Inc.
|
2
|
4.75%
|
$12,613
|
Waterstone Mortgage Corporation
|
2
|
5.13%
|
$13,484
|
Synovus Bank
|
1
|
4.00%
|
$11,837
|
The Central Trust Bank
|
1
|
5.88%
|
$10,446
|
TJC Mortgage, Inc.
|
1
|
4.13%
|
$17,098
|
UNITED MORTGAGE CORP
|
1
|
5.63%
|
$13,383
|
VAN DYK MORTGAGE CORPORATION
|
1
|
5.50%
|
$9,860
|
ACADEMY MORTGAGE CORPORATION
|
1
|
5.13%
|
$9,184
|
Wyndham Capital Mortgage, Inc.
|
1
|
4.75%
|
$9,320
|
Advisors Mortgage Group, L.L.C.
|
1
|
4.75%
|
$12,365
|
AMCAP MORTGAGE, LTD.
|
1
|
5.25%
|
$16,996
|
AMERICAN MORTGAGE SERVICE COMPANY
|
1
|
3.50%
|
$5,694
|
AMERICAN PORTFOLIO MORTGAGE CORPORATION
|
1
|
3.63%
|
$11,957
|
AMERIFIRST FINANCIAL CORPORATION
|
1
|
5.88%
|
$12,445
|
Ameris Bank
|
1
|
2.63%
|
$10,733
|
Citizens Bank
|
1
|
5.25%
|
$10,823
|
CMG MORTGAGE, INC.
|
1
|
6.38%
|
$8,661
|
COLUMBUS CAPITAL LENDING, LLC
|
1
|
3.88%
|
$9,569
|
EMBRACE HOME LOANS, INC.
|
1
|
5.13%
|
$11,427
|
First Federal Bank
|
1
|
4.88%
|
$4,669
|
FIRST HOME MORTGAGE CORPORATION
|
1
|
5.50%
|
$9,196
|
First Horizon Bank
|
1
|
5.13%
|
$11,176
|
GERSHMAN INVESTMENT CORP.
|
1
|
6.13%
|
$8,246
|
GMFS LLC
|
1
|
3.88%
|
$8,445
|
GUARANTEED RATE, INC.
|
1
|
7.25%
|
$11,305
|
HAMILTON HOME LOANS, INC.
|
1
|
4.38%
|
$9,926
|
HIGHLANDS RESIDENTIAL MORTGAGE, LTD.
|
1
|
5.13%
|
$12,501
|
JPMorgan Chase Bank
|
1
|
6.75%
|
$8,772
|
KELLER MORTGAGE, LLC
|
1
|
3.25%
|
$7,836
|
Key Mortgage Services, Inc.
|
1
|
5.25%
|
$7,169
|
LAKEVIEW LOAN SERVICING, LLC
|
1
|
5.25%
|
$7,053
|
MICHIGAN MUTUAL, INC.
|
1
|
5.63%
|
$10,693
|
MLD MORTGAGE INC.
|
1
|
4.75%
|
$7,096
|
Mortgage Lenders Investment Trading Corporation
|
1
|
5.25%
|
$11,722
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
1
|
4.50%
|
$16,358
|
Mr. Cooper ( Nationstar Mortgage )
|
1
|
5.13%
|
$8,840
|
MY MORTGAGE, INC.
|
1
|
5.13%
|
$8,116
|
NATIONS DIRECT MORTGAGE, LLC
|
1
|
4.63%
|
$9,893
|
NFM, INC.
|
1
|
3.63%
|
$12,054
|
PLANET HOME LENDING, LLC
|
1
|
6.13%
|
$12,172
|
PREMIER MORTGAGE RESOURCES, L.L.C.
|
1
|
3.50%
|
$9,057
|
ROUNDPOINT MORTGAGE SERVICING CORPORATION
|
1
|
4.13%
|
$9,829
|
RUOFF MORTGAGE COMPANY, INC.
|
1
|
4.00%
|
$4,573
|
Seacoast National Bank
|
1
|
5.13%
|
$8,869
|
SECURITYNATIONAL MORTGAGE COMPANY
|
1
|
3.63%
|
$19,099
|
SUCCESS MORTGAGE PARTNERS, INC.
|
1
|
5.50%
|
$13,215
|
SWBC MORTGAGE CORPORATION
|
1
|
5.63%
|
$6,323
|
The top Sebring FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
54 FHA loans originated. Their average total fees are
$9,182, which is $127
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Sebring FHA lenders (with over 10 loans originated) are
Bell Bank ($7,805), CALIBER HOME LOANS, INC. ($8,301), FREEDOM MORTGAGE CORPORATION ($8,919), QUICKEN LOANS, LLC ($9,182) and UNITED WHOLESALE MORTGAGE, LLC ($9,308).
The lowest rate Sebring FHA lenders (with over 10 loans originated) are
CALIBER HOME LOANS, INC. (4.26%), Bell Bank (4.37%), QUICKEN LOANS, LLC (4.56%), Flagstar Bank, FSB (4.81%) and LOANDEPOT.COM, LLC (4.84%).
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 |
SEBRING-AVON PARK, FL |
HIGHLANDS |
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).