Sidney FHA Loan Rates, Closing Costs & Stats

Sidney, OH

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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.

    Sidney's 30 lenders originated 123 FHA loans during 2023. The total origination value was $22,565,000, with an average FHA loan value of $183,455.

    Sidney FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Sidney averaged 6.45% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Sidney's average FHA mortgage closing costs are $6,662.

    The average rate for the prior week (2024-11-01) was 6.43% and one month ago for the week of 2024-10-04, the average rate was 6.15%.

    The average rate one year ago was 7.39%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.33%.

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

    Sidney 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 Sidney level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Western Ohio Mortgage Corporation 25 6.90% $9,519
    QUICKEN LOANS, LLC 12 6.29% $9,349
    NVR Mortgage Finance, Inc. 8 5.48% $9,240
    NEWREZ LLC 7 7.04% $7,732
    LOANDEPOT.COM, LLC 5 7.23% $12,640
    CROSSCOUNTRY MORTGAGE, LLC 5 6.19% $10,980
    PENNYMAC LOAN SERVICES, LLC 4 5.94% $9,209
    MOVEMENT MORTGAGE, LLC 4 7.00% $8,358
    FREEDOM MORTGAGE CORPORATION 3 6.63% $12,824
    U.S. Bank 3 6.88% $6,460
    UNION HOME MORTGAGE CORP. 3 7.38% $8,368
    WRIGHT-PATT CREDIT UNION, INC. 2 7.13% $6,117
    BROKER SOLUTIONS, INC. 2 6.75% $9,957
    CARDINAL FINANCIAL 2 6.31% $8,323
    Fifth Third Bank 2 6.94% $4,779
    JPMorgan Chase Bank 2 5.94% $4,628
    Mortgage Research Center, LLC 2 6.69% $3,163
    Mr. Cooper ( Nationstar Mortgage ) 2 6.38% $8,323
    THRIVE MORTGAGE, LLC 2 6.88% $7,023
    UNITED WHOLESALE MORTGAGE, LLC 2 5.81% $13,304
    ROYAL UNITED MORTGAGE LLC 1 6.63% $8,421
    SUN WEST MORTGAGE COMPANY, INC. 1 5.63% $19,837
    The Huntington National Bank 1 7.50% $5,460
    Carrington Mortgage Services, LLC 1 6.13% $12,248
    TOWNE MORTGAGE COMPANY 1 6.25% $9,252
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $7,583
    Bank of England 1 7.25% $8,874
    DRAPER AND KRAMER MORTGAGE CORP. 1 7.50% $7,144
    POLARIS HOME FUNDING CORP. 1 5.75% $12,230
    MYCUMORTGAGE, LLC 1 6.50% $5,777

    The top Sidney FHA lender as defined by loan originations is Western Ohio Mortgage Corporation, with 25 FHA loans originated. Their average total fees are $9,519, which is $170 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Sidney FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($9,349), Western Ohio Mortgage Corporation ($9,519), .

    The lowest rate Sidney FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.29%), Western Ohio Mortgage Corporation (6.90%), .

    Sidney FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Sidney (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 $124,400 (13.9%) $174,764 (18.0%) 0.00 144
    2018-02-01 $122,500 (16.4%) $182,281 (20.2%) 0.00 139
    2018-03-01 $127,750 (14.8%) $201,308 (28.3%) 0.00 129
    2018-04-01 $126,425 (10.0%) $196,517 (27.4%) 0.00 133
    2018-05-01 $130,000 (10.0%) $196,760 (20.5%) 0.00 138
    2018-06-01 $135,000 (12.7%) $190,153 (17.9%) 0.00 154
    2018-07-01 $137,450 (12.5%) $195,694 (21.1%) 0.00 165
    2018-08-01 $134,250 (10.9%) $189,866 (10.9%) 0.00 159
    2018-09-01 $135,000 (3.9%) $195,173 (11.5%) 0.00 158
    2018-10-01 $121,000 (-8.6%) $209,920 (21.4%) 0.00 161
    2018-11-01 $129,175 (-0.6%) $199,899 (16.5%) 0.00 167
    2018-12-01 $117,900 (-3.5%) $176,820 (2.5%) 0.00 155
    2019-01-01 $123,950 (-0.4%) $174,627 (-0.1%) 0.00 119
    2019-02-01 $140,500 (14.7%) $177,972 (-2.4%) 0.00 116
    2019-03-01 $136,986 (7.2%) $173,215 (-14.0%) 0.00 109
    2019-04-01 $133,761 (5.8%) $166,049 (-15.5%) 0.00 105
    2019-05-01 $139,450 (7.3%) $161,411 (-18.0%) 0.00 113
    2019-06-01 $124,450 (-7.8%) $154,332 (-18.8%) 0.00 123
    2019-07-01 $119,350 (-13.2%) $153,917 (-21.4%) 0.00 128
    2019-08-01 $112,791 (-16.0%) $149,399 (-21.3%) 0.00 120
    2019-09-01 $113,977 (-15.6%) $149,131 (-23.6%) 0.00 118
    2019-10-01 $117,450 (-2.9%) $148,953 (-29.0%) 0.00 116
    2019-11-01 $119,900 (-7.2%) $148,124 (-25.9%) 0.00 107
    2019-12-01 $117,425 (-0.4%) $146,334 (-17.2%) 0.00 112
    2020-01-01 $114,900 (-7.3%) $148,843 (-14.8%) 0.00 104
    2020-02-01 $114,450 (-18.5%) $157,751 (-11.4%) 0.00 87
    2020-03-01 $126,400 (-7.7%) $165,174 (-4.6%) 0.00 88
    2020-04-01 $126,925 (-5.1%) $163,930 (-1.3%) 0.00 87
    2020-05-01 $119,200 (-14.5%) $160,877 (-0.3%) 0.00 65
    2020-06-01 $134,950 (8.4%) $168,228 (9.0%) 0.00 59
    2020-07-01 $142,400 (19.3%) $175,453 (14.0%) 0.00 57
    2020-08-01 $134,000 (18.8%) $180,205 (20.6%) 0.00 55
    2020-09-01 $139,900 (22.7%) $188,278 (26.3%) 0.00 63
    2020-10-01 $136,500 (16.2%) $184,964 (24.2%) 0.00 65
    2020-11-01 $148,650 (24.0%) $192,614 (30.0%) 0.00 59
    2020-12-01 $158,700 (35.2%) $197,743 (35.1%) 0.00 49
    2021-01-01 $159,000 (38.4%) $203,627 (36.8%) 0.00 49
    2021-02-01 $179,450 (56.8%) $222,779 (41.2%) 0.00 44
    2021-03-01 $159,225 (26.0%) $195,747 (18.5%) 0.00 42
    2021-04-01 $158,000 (24.5%) $183,039 (11.7%) 0.00 46
    2021-05-01 $159,900 (34.1%) $213,377 (32.6%) 0.00 43
    2021-06-01 $198,675 (47.2%) $216,930 (29.0%) 0.00 54
    2021-07-01 $189,900 (33.4%) $213,788 (21.9%) 0.00 50
    2021-08-01 $168,000 (25.4%) $208,771 (15.9%) 0.00 55
    2021-09-01 $182,225 (30.3%) $211,112 (12.1%) 0.00 62
    2021-10-01 $169,900 (24.5%) $207,712 (12.3%) 0.00 56
    2021-11-01 $175,400 (18.0%) $216,230 (12.3%) 0.00 54
    2021-12-01 $168,725 (6.3%) $214,690 (8.6%) 0.00 41
    2022-01-01 $139,900 (-12.0%) $183,463 (-9.9%) 0.00 40
    2022-02-01 $136,725 (-23.8%) $170,217 (-23.6%) 0.00 31
    2022-03-01 $148,450 (-6.8%) $159,145 (-18.7%) 0.00 31
    2022-04-01 $169,000 (7.0%) $184,428 (0.8%) 0.00 40
    2022-05-01 $177,425 (11.0%) $211,608 (-0.8%) 0.00 38
    2022-06-01 $177,450 (-10.7%) $233,876 (7.8%) 0.00 46
    2022-07-01 $177,450 (-6.6%) $249,035 (16.5%) 0.00 57
    2022-08-01 $232,175 (38.2%) $276,647 (32.5%) 0.00 55
    2022-09-01 $221,175 (21.4%) $268,789 (27.3%) 0.00 65
    2022-10-01 $236,445 (39.2%) $274,830 (32.3%) 0.00 61
    2022-11-01 $256,248 (46.1%) $283,777 (31.2%) 0.00 64
    2022-12-01 $269,000 (59.4%) $287,339 (33.8%) 0.00 57
    2023-01-01 $249,000 (78.0%) $275,529 (50.2%) 0.00 56
    2023-02-01 $249,000 (82.1%) $270,510 (58.9%) 0.00 55
    2023-03-01 $260,325 (75.4%) $281,198 (76.7%) 0.00 38
    2023-04-01 $249,700 (47.8%) $271,920 (47.4%) 0.00 37
    2023-05-01 $249,500 (40.6%) $282,625 (33.6%) 0.00 33
    2023-06-01 $284,100 (60.1%) $295,191 (26.2%) 0.00 38
    2023-07-01 $249,000 (40.3%) $282,593 (13.5%) 0.00 39
    2023-08-01 $240,000 (3.4%) $268,065 (-3.1%) 0.00 43
    2023-09-01 $257,900 (16.6%) $291,208 (8.3%) 0.00 44
    2023-10-01 $237,000 (0.2%) $290,860 (5.8%) 0.00 54
    2023-11-01 $227,500 (-11.2%) $278,859 (-1.7%) 0.00 53
    2023-12-01 $219,900 (-18.3%) $264,989 (-7.8%) 0.00 60
    2024-01-01 $216,198 (-13.2%) $270,171 (-1.9%) 0.00 55
    2024-02-01 $226,000 (-9.2%) $282,784 (4.5%) 0.00 45
    2024-03-01 $239,900 (-7.9%) $278,282 (-1.0%) 0.00 43
    2024-04-01 $249,950 (0.1%) $293,471 (7.9%) 0.00 47
    2024-05-01 $254,593 (2.0%) $303,929 (7.5%) 0.00 41
    2024-06-01 $285,000 (0.3%) $319,898 (8.4%) 0.00 44
    2024-07-01 $252,450 (1.4%) $305,290 (8.0%) 0.00 49
    2024-08-01 $258,245 (7.6%) $315,168 (17.6%) 0.00 56
    2024-09-01 $234,725 (-9.0%) $290,164 (-0.4%) 0.00 59
    2024-10-01 $243,225 (2.6%) $293,096 (0.8%) 0.00 66
    Sidney's median listing price for 2024-10-01 was $243,225, a difference of $6,225 (2.6%) versus the prior year and $8,500 versus the prior month.

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

    Sidney's average listing price for 2024-10-01 was $293,096, a difference of $2,236 (0.8%) versus the prior year and $2,932 versus the prior month.

    For the 2024-10-01 period, Sidney had 66 MLS listings, a difference of 7 listings (12%) versus the prior month and 12 listings (22%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Sidney (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,691 sqft
    2018-02-01 0 days 1,699 sqft
    2018-03-01 0 days 1,765 sqft
    2018-04-01 0 days 1,746 sqft
    2018-05-01 0 days 1,810 sqft
    2018-06-01 0 days 1,810 sqft
    2018-07-01 0 days 1,783 sqft
    2018-08-01 0 days 1,732 sqft
    2018-09-01 0 days 1,806 sqft
    2018-10-01 0 days 1,810 sqft
    2018-11-01 0 days 1,686 sqft
    2018-12-01 0 days 1,659 sqft
    2019-01-01 0 days 1,622 sqft
    2019-02-01 0 days 1,587 sqft
    2019-03-01 0 days 1,620 sqft
    2019-04-01 0 days 1,650 sqft
    2019-05-01 0 days 1,654 sqft
    2019-06-01 0 days 1,644 sqft
    2019-07-01 0 days 1,601 sqft
    2019-08-01 0 days 1,551 sqft
    2019-09-01 0 days 1,556 sqft
    2019-10-01 0 days 1,547 sqft
    2019-11-01 0 days 1,560 sqft
    2019-12-01 0 days 1,566 sqft
    2020-01-01 0 days 1,538 sqft
    2020-02-01 0 days 1,561 sqft
    2020-03-01 0 days 1,708 sqft
    2020-04-01 0 days 1,661 sqft
    2020-05-01 0 days 1,580 sqft
    2020-06-01 0 days 1,662 sqft
    2020-07-01 0 days 1,744 sqft
    2020-08-01 0 days 1,686 sqft
    2020-09-01 0 days 1,646 sqft
    2020-10-01 0 days 1,686 sqft
    2020-11-01 0 days 1,674 sqft
    2020-12-01 0 days 1,774 sqft
    2021-01-01 0 days 1,728 sqft
    2021-02-01 0 days 1,901 sqft
    2021-03-01 0 days 1,759 sqft
    2021-04-01 0 days 1,711 sqft
    2021-05-01 0 days 1,768 sqft
    2021-06-01 0 days 1,754 sqft
    2021-07-01 0 days 1,728 sqft
    2021-08-01 0 days 1,746 sqft
    2021-09-01 0 days 1,718 sqft
    2021-10-01 0 days 1,704 sqft
    2021-11-01 0 days 1,677 sqft
    2021-12-01 0 days 1,603 sqft
    2022-01-01 0 days 1,604 sqft
    2022-02-01 0 days 1,653 sqft
    2022-03-01 0 days 1,596 sqft
    2022-04-01 0 days 1,596 sqft
    2022-05-01 0 days 1,724 sqft
    2022-06-01 0 days 1,648 sqft
    2022-07-01 0 days 1,763 sqft
    2022-08-01 0 days 1,853 sqft
    2022-09-01 0 days 1,734 sqft
    2022-10-01 0 days 1,680 sqft
    2022-11-01 0 days 1,847 sqft
    2022-12-01 0 days 1,984 sqft
    2023-01-01 0 days 1,842 sqft
    2023-02-01 0 days 1,798 sqft
    2023-03-01 0 days 1,886 sqft
    2023-04-01 0 days 1,888 sqft
    2023-05-01 0 days 1,865 sqft
    2023-06-01 0 days 1,939 sqft
    2023-07-01 0 days 1,904 sqft
    2023-08-01 0 days 1,828 sqft
    2023-09-01 0 days 1,871 sqft
    2023-10-01 0 days 1,881 sqft
    2023-11-01 0 days 1,812 sqft
    2023-12-01 0 days 1,677 sqft
    2024-01-01 0 days 1,682 sqft
    2024-02-01 0 days 1,756 sqft
    2024-03-01 0 days 1,690 sqft
    2024-04-01 0 days 1,695 sqft
    2024-05-01 0 days 1,658 sqft
    2024-06-01 0 days 1,712 sqft
    2024-07-01 0 days 1,691 sqft
    2024-08-01 0 days 1,792 sqft
    2024-09-01 0 days 1,713 sqft
    2024-10-01 0 days 1,702 sqft
    Sidney's median listing age (time on market) for 2024-10-01 was 0 days.

    Sidney's median square footage for active listings during the 2024-10-01 period was 1,702 sqft. One year prior, the average listing was 1,881 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).