Seymour FHA Loan Rates, Closing Costs & Stats

Seymour, IN

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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.

    Seymour's 40 lenders originated 135 FHA loans during 2023. The total origination value was $23,615,000, with an average FHA loan value of $174,926.

    Seymour FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Seymour averaged 6.17% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Seymour's average FHA mortgage closing costs are $5,888.

    The average rate for the prior week (2024-12-06) was 6.44% and one month ago for the week of 2024-11-08, the average rate was 6.5%.

    The average rate one year ago was 7.01%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.48%.

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

    Seymour 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 Seymour level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GVC MORTGAGE, INC. 23 7.10% $9,215
    Wolfe Financial, Inc 19 7.05% $8,167
    QUICKEN LOANS, LLC 12 6.38% $8,704
    DIRECT MORTGAGE LOANS, LLC 9 7.04% $10,019
    RUOFF MORTGAGE COMPANY, INC. 6 7.08% $4,966
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 7.13% $7,305
    Mr. Cooper ( Nationstar Mortgage ) 4 5.94% $9,566
    First Financial Bank 3 6.54% $5,969
    UNITED WHOLESALE MORTGAGE, LLC 3 6.96% $7,261
    Prosperity Home Mortgage, LLC 3 7.75% $6,253
    AMERISAVE MORTGAGE CORPORATION 3 6.21% $11,503
    LOANDEPOT.COM, LLC 3 6.33% $6,223
    Carrington Mortgage Services, LLC 2 6.38% $8,344
    CMG MORTGAGE, INC. 2 7.87% $9,453
    FIRST COMMUNITY MORTGAGE, INC. 2 7.25% $8,351
    LOANPAL, LLC 1 5.00% $11,184
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $11,853
    Nations Lending Corporation 1 6.13% $10,282
    Northpointe Bank 1 6.50% $7,928
    OPEN MORTGAGE, LLC 1 6.25% $7,301
    PENNYMAC LOAN SERVICES, LLC 1 5.63% $8,874
    PHH Mortgage Corporation 1 7.13% $7,759
    PLANET HOME LENDING, LLC 1 6.25% $8,545
    Sierra Pacific Mortgage Company, Inc. 1 5.50% $14,117
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.50% $18,101
    HALLMARK HOME MORTGAGE, LLC 1 7.25% $9,090
    AMCAP MORTGAGE, LTD. 1 6.63% $6,436
    BROKER SOLUTIONS, INC. 1 6.25% $8,733
    CARDINAL FINANCIAL 1 5.25% $15,559
    Century Mortgage Company DBA Century Lending Company 1 6.25% $6,548
    EMM LOANS LLC 1 5.75% $7,162
    ENDEAVOR CAPITAL, LLC. 1 7.62% $7,449
    Equity Prime Mortgage LLC 1 6.75% $6,324
    EVERETT FINANCIAL, INC. 1 7.13% $2,633
    Flagstar Bank, FSB 1 6.25% $7,811
    FREEDOM MORTGAGE CORPORATION 1 7.25% $9,160
    German American Bank 1 7.00% $5,193
    Advisors Mortgage Group, L.L.C. 1 7.63% $5,286
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $11,963
    LEADERONE FINANCIAL CORPORATION 1 7.13% $8,717

    The top Seymour FHA lender as defined by loan originations is GVC MORTGAGE, INC., with 23 FHA loans originated. Their average total fees are $9,215, which is $1,048 higher than the next largest lender, Wolfe Financial, Inc.

    The lowest fee Seymour FHA lenders (with over 10 loans originated) are Wolfe Financial, Inc ($8,167), QUICKEN LOANS, LLC ($8,704), GVC MORTGAGE, INC. ($9,215), .

    The lowest rate Seymour FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.38%), Wolfe Financial, Inc (7.05%), GVC MORTGAGE, INC. (7.10%), .

    Seymour FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Seymour (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 $102,150 (-7.1%) $133,512 (-9.0%) 0.00 140
    2018-02-01 $121,400 (15.2%) $147,387 (1.9%) 0.00 126
    2018-03-01 $122,900 (23.0%) $163,894 (15.0%) 0.00 119
    2018-04-01 $122,175 (3.6%) $162,272 (8.7%) 0.00 113
    2018-05-01 $125,450 (11.9%) $171,055 (15.2%) 0.00 109
    2018-06-01 $128,000 (16.5%) $172,683 (17.9%) 0.00 110
    2018-07-01 $129,950 (18.2%) $170,303 (18.4%) 0.00 126
    2018-08-01 $126,975 (16.6%) $159,728 (17.8%) 0.00 127
    2018-09-01 $124,900 (25.0%) $156,941 (19.7%) 0.00 114
    2018-10-01 $130,733 (29.9%) $163,293 (23.5%) 0.00 122
    2018-11-01 $134,375 (32.5%) $162,512 (21.8%) 0.00 120
    2018-12-01 $134,900 (35.0%) $162,251 (26.7%) 0.00 110
    2019-01-01 $134,500 (31.7%) $158,497 (18.7%) 0.00 102
    2019-02-01 $131,150 (8.0%) $165,317 (12.2%) 0.00 89
    2019-03-01 $129,014 (5.0%) $173,787 (6.0%) 0.00 84
    2019-04-01 $139,700 (14.3%) $180,919 (11.5%) 0.00 79
    2019-05-01 $145,000 (15.6%) $181,746 (6.3%) 0.00 77
    2019-06-01 $157,400 (23.0%) $201,038 (16.4%) 0.00 72
    2019-07-01 $158,650 (22.1%) $210,240 (23.5%) 0.00 80
    2019-08-01 $159,900 (25.9%) $213,525 (33.7%) 0.00 89
    2019-09-01 $159,900 (28.0%) $217,170 (38.4%) 0.00 86
    2019-10-01 $159,700 (22.2%) $215,598 (32.0%) 0.00 82
    2019-11-01 $164,900 (22.7%) $223,342 (37.4%) 0.00 79
    2019-12-01 $165,050 (22.4%) $216,504 (33.4%) 0.00 78
    2020-01-01 $168,800 (25.5%) $211,372 (33.4%) 0.00 65
    2020-02-01 $180,500 (37.6%) $224,265 (35.7%) 0.00 64
    2020-03-01 $189,900 (47.2%) $235,795 (35.7%) 0.00 55
    2020-04-01 $179,900 (28.8%) $232,131 (28.3%) 0.00 52
    2020-05-01 $182,400 (25.8%) $235,947 (29.8%) 0.00 51
    2020-06-01 $198,400 (26.1%) $243,774 (21.3%) 0.00 51
    2020-07-01 $201,300 (26.9%) $244,437 (16.3%) 0.00 56
    2020-08-01 $197,900 (23.8%) $235,594 (10.3%) 0.00 56
    2020-09-01 $198,900 (24.4%) $241,211 (11.1%) 0.00 56
    2020-10-01 $196,450 (23.0%) $237,950 (10.4%) 0.00 54
    2020-11-01 $189,900 (15.2%) $222,421 (-0.4%) 0.00 52
    2020-12-01 $184,900 (12.0%) $215,935 (-0.3%) 0.00 51
    2021-01-01 $172,400 (2.1%) $202,498 (-4.2%) 0.00 34
    2021-02-01 $174,900 (-3.1%) $228,042 (1.7%) 0.00 29
    2021-03-01 $173,675 (-8.5%) $229,269 (-2.8%) 0.00 25
    2021-04-01 $174,900 (-2.8%) $265,252 (14.3%) 0.00 23
    2021-05-01 $195,000 (6.9%) $290,297 (23.0%) 0.00 26
    2021-06-01 $217,475 (9.6%) $287,228 (17.8%) 0.00 24
    2021-07-01 $191,950 (-4.6%) $268,359 (9.8%) 0.00 32
    2021-08-01 $199,900 (1.0%) $285,867 (21.3%) 0.00 46
    2021-09-01 $194,975 (-2.0%) $266,400 (10.4%) 0.00 53
    2021-10-01 $177,450 (-9.7%) $245,773 (3.3%) 0.00 59
    2021-11-01 $187,450 (-1.3%) $254,917 (14.6%) 0.00 55
    2021-12-01 $194,925 (5.4%) $255,852 (18.5%) 0.00 49
    2022-01-01 $226,450 (31.4%) $265,521 (31.1%) 0.00 41
    2022-02-01 $222,500 (27.2%) $277,274 (21.6%) 0.00 28
    2022-03-01 $226,950 (30.7%) $310,748 (35.5%) 0.00 28
    2022-04-01 $225,000 (28.6%) $329,051 (24.1%) 0.00 36
    2022-05-01 $219,900 (12.8%) $308,201 (6.2%) 0.00 41
    2022-06-01 $225,100 (3.5%) $309,907 (7.9%) 0.00 49
    2022-07-01 $239,900 (25.0%) $304,752 (13.6%) 0.00 57
    2022-08-01 $239,900 (20.0%) $291,988 (2.1%) 0.00 56
    2022-09-01 $244,900 (25.6%) $300,920 (13.0%) 0.00 51
    2022-10-01 $239,950 (35.2%) $301,109 (22.5%) 0.00 60
    2022-11-01 $270,975 (44.6%) $310,806 (21.9%) 0.00 60
    2022-12-01 $274,900 (41.0%) $323,741 (26.5%) 0.00 57
    2023-01-01 $262,925 (16.1%) $297,288 (12.0%) 0.00 54
    2023-02-01 $260,950 (17.3%) $299,384 (8.0%) 0.00 43
    2023-03-01 $260,425 (14.8%) $298,187 (-4.0%) 0.00 33
    2023-04-01 $264,900 (17.7%) $306,180 (-7.0%) 0.00 26
    2023-05-01 $249,400 (13.4%) $282,239 (-8.4%) 0.00 27
    2023-06-01 $253,725 (12.7%) $286,049 (-7.7%) 0.00 33
    2023-07-01 $235,000 (-2.0%) $289,322 (-5.1%) 0.00 36
    2023-08-01 $272,200 (13.5%) $297,773 (2.0%) 0.00 43
    2023-09-01 $269,900 (10.2%) $305,178 (1.4%) 0.00 51
    2023-10-01 $267,200 (11.4%) $296,977 (-1.4%) 0.00 54
    2023-11-01 $259,800 (-4.1%) $306,976 (-1.2%) 0.00 60
    2023-12-01 $269,900 (-1.8%) $319,725 (-1.2%) 0.00 58
    2024-01-01 $273,725 (4.1%) $315,020 (6.0%) 0.00 56
    2024-02-01 $269,950 (3.5%) $307,293 (2.6%) 0.00 53
    2024-03-01 $289,950 (11.3%) $322,490 (8.2%) 0.00 51
    2024-04-01 $277,450 (4.7%) $317,910 (3.8%) 0.00 51
    2024-05-01 $267,950 (7.4%) $317,662 (12.6%) 0.00 52
    2024-06-01 $263,500 (3.9%) $315,330 (10.2%) 0.00 44
    2024-07-01 $259,900 (10.6%) $306,885 (6.1%) 0.00 55
    2024-08-01 $249,900 (-8.2%) $291,618 (-2.1%) 0.00 66
    2024-09-01 $263,375 (-2.4%) $289,775 (-5.1%) 0.00 72
    2024-10-01 $253,675 (-5.1%) $299,309 (0.8%) 0.00 71
    2024-11-01 $259,900 (0.0%) $292,854 (-4.6%) 0.00 66
    Seymour's median listing price for 2024-11-01 was $259,900, a difference of $100 (0.0%) versus the prior year and $6,225 versus the prior month.

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

    Seymour's average listing price for 2024-11-01 was $292,854, a difference of $-14,122 (-4.6%) versus the prior year and $-6,455 versus the prior month.

    For the 2024-11-01 period, Seymour had 66 MLS listings, a difference of -5 listings (-7%) versus the prior month and 6 listings (10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Seymour (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,575 sqft
    2018-02-01 0 days 1,608 sqft
    2018-03-01 0 days 1,714 sqft
    2018-04-01 0 days 1,680 sqft
    2018-05-01 0 days 1,680 sqft
    2018-06-01 0 days 1,687 sqft
    2018-07-01 0 days 1,600 sqft
    2018-08-01 0 days 1,614 sqft
    2018-09-01 0 days 1,620 sqft
    2018-10-01 0 days 1,642 sqft
    2018-11-01 0 days 1,620 sqft
    2018-12-01 0 days 1,619 sqft
    2019-01-01 0 days 1,620 sqft
    2019-02-01 0 days 1,784 sqft
    2019-03-01 0 days 1,821 sqft
    2019-04-01 0 days 1,869 sqft
    2019-05-01 0 days 1,900 sqft
    2019-06-01 0 days 1,928 sqft
    2019-07-01 0 days 1,981 sqft
    2019-08-01 0 days 2,137 sqft
    2019-09-01 0 days 2,132 sqft
    2019-10-01 0 days 2,060 sqft
    2019-11-01 0 days 1,991 sqft
    2019-12-01 0 days 1,926 sqft
    2020-01-01 0 days 1,908 sqft
    2020-02-01 0 days 1,860 sqft
    2020-03-01 0 days 1,834 sqft
    2020-04-01 0 days 1,774 sqft
    2020-05-01 0 days 1,806 sqft
    2020-06-01 0 days 1,807 sqft
    2020-07-01 0 days 1,872 sqft
    2020-08-01 0 days 1,778 sqft
    2020-09-01 0 days 1,791 sqft
    2020-10-01 0 days 1,943 sqft
    2020-11-01 0 days 1,863 sqft
    2020-12-01 0 days 1,769 sqft
    2021-01-01 0 days 1,642 sqft
    2021-02-01 0 days 1,940 sqft
    2021-03-01 0 days 1,912 sqft
    2021-04-01 0 days 2,130 sqft
    2021-05-01 0 days 1,990 sqft
    2021-06-01 0 days 2,035 sqft
    2021-07-01 0 days 1,962 sqft
    2021-08-01 0 days 2,152 sqft
    2021-09-01 0 days 1,877 sqft
    2021-10-01 0 days 1,922 sqft
    2021-11-01 0 days 1,887 sqft
    2021-12-01 0 days 1,881 sqft
    2022-01-01 0 days 1,874 sqft
    2022-02-01 0 days 1,962 sqft
    2022-03-01 0 days 2,063 sqft
    2022-04-01 0 days 2,134 sqft
    2022-05-01 0 days 1,889 sqft
    2022-06-01 0 days 2,176 sqft
    2022-07-01 0 days 2,151 sqft
    2022-08-01 0 days 1,957 sqft
    2022-09-01 0 days 1,909 sqft
    2022-10-01 0 days 2,047 sqft
    2022-11-01 0 days 2,337 sqft
    2022-12-01 0 days 2,182 sqft
    2023-01-01 0 days 1,991 sqft
    2023-02-01 0 days 2,030 sqft
    2023-03-01 0 days 2,134 sqft
    2023-04-01 0 days 1,951 sqft
    2023-05-01 0 days 1,706 sqft
    2023-06-01 0 days 1,811 sqft
    2023-07-01 0 days 1,951 sqft
    2023-08-01 0 days 2,126 sqft
    2023-09-01 0 days 1,974 sqft
    2023-10-01 0 days 1,781 sqft
    2023-11-01 0 days 1,712 sqft
    2023-12-01 0 days 1,847 sqft
    2024-01-01 0 days 1,788 sqft
    2024-02-01 0 days 1,793 sqft
    2024-03-01 0 days 1,959 sqft
    2024-04-01 0 days 2,077 sqft
    2024-05-01 0 days 1,924 sqft
    2024-06-01 0 days 1,810 sqft
    2024-07-01 0 days 1,808 sqft
    2024-08-01 0 days 1,866 sqft
    2024-09-01 0 days 1,920 sqft
    2024-10-01 0 days 2,061 sqft
    2024-11-01 0 days 2,169 sqft
    Seymour's median listing age (time on market) for 2024-11-01 was 0 days.

    Seymour's median square footage for active listings during the 2024-11-01 period was 2,169 sqft. One year prior, the average listing was 1,712 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).