Sikeston FHA Loan Rates, Closing Costs & Stats

Sikeston, MO

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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.

    Sikeston's 28 lenders originated 94 FHA loans during 2023. The total origination value was $14,020,000, with an average FHA loan value of $149,149.

    Sikeston FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Sikeston averaged 6.47% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Sikeston's average FHA mortgage closing costs are $5,695.

    The average rate for the prior week (2025-02-07) was 6.68% and one month ago for the week of 2025-01-10, the average rate was 6.54%.

    The average rate one year ago was 6.67%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.62%.

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

    Sikeston 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 Sikeston level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DAS Acquisition Company, LLC 29 6.84% $7,037
    Flanagan State Bank 7 6.61% $8,572
    QUICKEN LOANS, LLC 7 6.37% $7,239
    Gateway First Bank 7 6.86% $5,924
    FLAT BRANCH MORTGAGE, INC. 5 7.38% $5,891
    AMERISAVE MORTGAGE CORPORATION 2 6.75% $7,291
    Carrington Mortgage Services, LLC 2 6.38% $8,612
    GERSHMAN INVESTMENT CORP. 2 7.13% $5,580
    GUILD MORTGAGE COMPANY 2 6.88% $5,817
    MOVEMENT MORTGAGE, LLC 2 6.13% $7,651
    PENNYMAC LOAN SERVICES, LLC 2 7.06% $5,440
    Regions Bank 2 7.00% $4,825
    U.S. Bank 2 7.00% $5,564
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $15,860
    LOANDEPOT.COM, LLC 1 5.99% $8,188
    Mortgage Research Center, LLC 1 7.13% $4,205
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $6,593
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $7,632
    NATIONWIDE MORTGAGE BANKERS, INC. 1 7.75% $5,973
    TOP FLITE FINANCIAL, INC. 1 6.75% $15,502
    PHH Mortgage Corporation 1 6.50% $9,020
    PLANET HOME LENDING, LLC 1 7.00% $4,530
    Flagstar Bank, FSB 1 6.00% $5,614
    ENDEAVOR CAPITAL, LLC. 1 6.12% $9,366
    DELMAR FINANCIAL COMPANY 1 7.13% $5,304
    GENEVA FINANCIAL, LLC 1 6.63% $10,830
    CARDINAL FINANCIAL 1 6.50% $12,289
    UNITED WHOLESALE MORTGAGE, LLC 1 5.49% $7,415

    The top Sikeston FHA lender as defined by loan originations is DAS Acquisition Company, LLC, with 29 FHA loans originated. Their average total fees are $7,037, which is $1,534 lower than the next largest lender, Flanagan State Bank.

    The lowest fee Sikeston FHA lenders (with over 10 loans originated) are DAS Acquisition Company, LLC ($7,037), .

    The lowest rate Sikeston FHA lenders (with over 10 loans originated) are DAS Acquisition Company, LLC (6.84%), .

    Sikeston FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Sikeston (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 $125,425 (25.6%) $143,472 (21.9%) 0.00 71
    2018-02-01 $122,975 (23.7%) $140,691 (21.3%) 0.00 73
    2018-03-01 $124,900 (26.6%) $126,232 (6.7%) 0.00 71
    2018-04-01 $126,250 (14.9%) $132,201 (2.1%) 0.00 78
    2018-05-01 $122,500 (10.2%) $139,311 (2.3%) 0.00 76
    2018-06-01 $119,900 (9.6%) $135,528 (2.3%) 0.00 76
    2018-07-01 $110,350 (2.7%) $131,209 (3.8%) 0.00 85
    2018-08-01 $114,975 (7.5%) $134,456 (1.9%) 0.00 89
    2018-09-01 $119,450 (-4.4%) $134,585 (-3.6%) 0.00 100
    2018-10-01 $122,813 (4.6%) $135,560 (-4.1%) 0.00 98
    2018-11-01 $123,000 (0.4%) $135,738 (-4.3%) 0.00 90
    2018-12-01 $119,500 (-4.4%) $137,957 (-4.8%) 0.00 88
    2019-01-01 $121,325 (-3.3%) $143,443 (0.0%) 0.00 86
    2019-02-01 $125,000 (1.7%) $150,729 (7.1%) 0.00 88
    2019-03-01 $135,800 (8.7%) $154,171 (22.1%) 0.00 91
    2019-04-01 $135,850 (7.6%) $151,001 (14.2%) 0.00 97
    2019-05-01 $135,000 (10.2%) $154,690 (11.0%) 0.00 97
    2019-06-01 $139,900 (16.7%) $164,013 (21.0%) 0.00 100
    2019-07-01 $140,425 (27.3%) $167,750 (27.9%) 0.00 106
    2019-08-01 $136,445 (18.7%) $161,889 (20.4%) 0.00 133
    2019-09-01 $129,389 (8.3%) $151,152 (12.3%) 0.00 178
    2019-10-01 $124,408 (1.3%) $144,092 (6.3%) 0.00 223
    2019-11-01 $119,900 (-2.5%) $141,334 (4.1%) 0.00 233
    2019-12-01 $119,975 (0.4%) $142,965 (3.6%) 0.00 225
    2020-01-01 $119,450 (-1.6%) $141,013 (-1.7%) 0.00 215
    2020-02-01 $122,500 (-2.0%) $142,565 (-5.4%) 0.00 214
    2020-03-01 $120,000 (-11.6%) $139,898 (-9.3%) 0.00 216
    2020-04-01 $119,800 (-11.8%) $139,115 (-7.9%) 0.00 207
    2020-05-01 $114,900 (-14.9%) $137,662 (-11.0%) 0.00 190
    2020-06-01 $118,475 (-15.3%) $138,032 (-15.8%) 0.00 190
    2020-07-01 $119,425 (-15.0%) $138,671 (-17.3%) 0.00 172
    2020-08-01 $123,500 (-9.5%) $141,782 (-12.4%) 0.00 152
    2020-09-01 $118,925 (-8.1%) $141,610 (-6.3%) 0.00 138
    2020-10-01 $123,700 (-0.6%) $146,598 (1.7%) 0.00 136
    2020-11-01 $124,900 (4.2%) $147,738 (4.5%) 0.00 143
    2020-12-01 $119,075 (-0.8%) $142,172 (-0.6%) 0.00 142
    2021-01-01 $109,950 (-8.0%) $136,845 (-3.0%) 0.00 133
    2021-02-01 $110,000 (-10.2%) $133,649 (-6.3%) 0.00 118
    2021-03-01 $105,000 (-12.5%) $131,564 (-6.0%) 0.00 113
    2021-04-01 $112,950 (-5.7%) $135,853 (-2.3%) 0.00 109
    2021-05-01 $119,750 (4.2%) $138,221 (0.4%) 0.00 100
    2021-06-01 $133,750 (12.9%) $146,772 (6.3%) 0.00 90
    2021-07-01 $139,000 (16.4%) $156,031 (12.5%) 0.00 88
    2021-08-01 $143,750 (16.4%) $162,004 (14.3%) 0.00 85
    2021-09-01 $133,725 (12.4%) $151,578 (7.0%) 0.00 107
    2021-10-01 $139,450 (12.7%) $151,624 (3.4%) 0.00 112
    2021-11-01 $128,700 (3.0%) $147,417 (-0.2%) 0.00 112
    2021-12-01 $126,250 (6.0%) $149,405 (5.1%) 0.00 104
    2022-01-01 $147,400 (34.1%) $163,118 (19.2%) 0.00 94
    2022-02-01 $143,050 (30.1%) $168,773 (26.3%) 0.00 92
    2022-03-01 $144,950 (38.1%) $185,148 (40.7%) 0.00 97
    2022-04-01 $144,950 (28.3%) $168,894 (24.3%) 0.00 103
    2022-05-01 $139,900 (16.8%) $160,823 (16.4%) 0.00 102
    2022-06-01 $130,950 (-2.1%) $154,954 (5.6%) 0.00 97
    2022-07-01 $135,000 (-2.9%) $163,336 (4.7%) 0.00 102
    2022-08-01 $120,425 (-16.2%) $157,544 (-2.8%) 0.00 134
    2022-09-01 $111,175 (-16.9%) $162,346 (7.1%) 0.00 142
    2022-10-01 $109,950 (-21.2%) $169,078 (11.5%) 0.00 138
    2022-11-01 $97,425 (-24.3%) $168,427 (14.3%) 0.00 146
    2022-12-01 $99,450 (-21.2%) $161,661 (8.2%) 0.00 160
    2023-01-01 $110,000 (-25.4%) $161,866 (-0.8%) 0.00 128
    2023-02-01 $104,250 (-27.1%) $157,110 (-6.9%) 0.00 121
    2023-03-01 $129,450 (-10.7%) $164,406 (-11.2%) 0.00 121
    2023-04-01 $141,950 (-2.1%) $176,966 (4.8%) 0.00 115
    2023-05-01 $149,925 (7.2%) $185,311 (15.2%) 0.00 118
    2023-06-01 $151,225 (15.5%) $186,881 (20.6%) 0.00 115
    2023-07-01 $156,000 (15.6%) $199,332 (22.0%) 0.00 113
    2023-08-01 $152,450 (26.6%) $193,513 (22.8%) 0.00 123
    2023-09-01 $151,750 (36.5%) $189,708 (16.9%) 0.00 122
    2023-10-01 $160,000 (45.5%) $200,584 (18.6%) 0.00 121
    2023-11-01 $158,250 (62.4%) $195,809 (16.3%) 0.00 121
    2023-12-01 $143,900 (44.7%) $191,504 (18.5%) 0.00 111
    2024-01-01 $143,175 (30.2%) $191,746 (18.5%) 0.00 109
    2024-02-01 $122,450 (17.5%) $179,762 (14.4%) 0.00 136
    2024-03-01 $130,000 (0.4%) $191,042 (16.2%) 0.00 135
    2024-04-01 $134,125 (-5.5%) $191,180 (8.0%) 0.00 130
    2024-05-01 $151,750 (1.2%) $192,371 (3.8%) 0.00 132
    2024-06-01 $158,500 (4.8%) $196,448 (5.1%) 0.00 134
    2024-07-01 $144,700 (-7.2%) $191,466 (-4.0%) 0.00 124
    2024-08-01 $164,950 (8.2%) $201,572 (4.2%) 0.00 112
    2024-09-01 $159,725 (5.3%) $185,821 (-2.1%) 0.00 109
    2024-10-01 $161,350 (0.8%) $188,384 (-6.1%) 0.00 117
    2024-11-01 $152,250 (-3.8%) $175,025 (-10.6%) 0.00 126
    2024-12-01 $152,500 (6.0%) $168,105 (-12.2%) 0.00 126
    2025-01-01 $162,450 (13.5%) $175,033 (-8.7%) 0.00 121
    Sikeston's median listing price for 2025-01-01 was $162,450, a difference of $19,275 (13.5%) versus the prior year and $9,950 versus the prior month.

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

    Sikeston's average listing price for 2025-01-01 was $175,033, a difference of $-16,713 (-8.7%) versus the prior year and $6,928 versus the prior month.

    For the 2025-01-01 period, Sikeston had 121 MLS listings, a difference of -5 listings (-4%) versus the prior month and 12 listings (11%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Sikeston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,506 sqft
    2018-02-01 0 days 1,543 sqft
    2018-03-01 0 days 1,547 sqft
    2018-04-01 0 days 1,582 sqft
    2018-05-01 0 days 1,542 sqft
    2018-06-01 0 days 1,474 sqft
    2018-07-01 0 days 1,462 sqft
    2018-08-01 0 days 1,570 sqft
    2018-09-01 0 days 1,568 sqft
    2018-10-01 0 days 1,570 sqft
    2018-11-01 0 days 1,569 sqft
    2018-12-01 0 days 1,559 sqft
    2019-01-01 0 days 1,572 sqft
    2019-02-01 0 days 1,680 sqft
    2019-03-01 0 days 1,703 sqft
    2019-04-01 0 days 1,697 sqft
    2019-05-01 0 days 1,713 sqft
    2019-06-01 0 days 1,773 sqft
    2019-07-01 0 days 1,657 sqft
    2019-08-01 0 days 1,655 sqft
    2019-09-01 0 days 1,658 sqft
    2019-10-01 0 days 1,667 sqft
    2019-11-01 0 days 1,658 sqft
    2019-12-01 0 days 1,642 sqft
    2020-01-01 0 days 1,635 sqft
    2020-02-01 0 days 1,701 sqft
    2020-03-01 0 days 1,707 sqft
    2020-04-01 0 days 1,690 sqft
    2020-05-01 0 days 1,632 sqft
    2020-06-01 0 days 1,622 sqft
    2020-07-01 0 days 1,640 sqft
    2020-08-01 0 days 1,660 sqft
    2020-09-01 0 days 1,645 sqft
    2020-10-01 0 days 1,592 sqft
    2020-11-01 0 days 1,590 sqft
    2020-12-01 0 days 1,516 sqft
    2021-01-01 0 days 1,507 sqft
    2021-02-01 0 days 1,501 sqft
    2021-03-01 0 days 1,585 sqft
    2021-04-01 0 days 1,555 sqft
    2021-05-01 0 days 1,534 sqft
    2021-06-01 0 days 1,529 sqft
    2021-07-01 0 days 1,562 sqft
    2021-08-01 0 days 1,556 sqft
    2021-09-01 0 days 1,554 sqft
    2021-10-01 0 days 1,569 sqft
    2021-11-01 0 days 1,574 sqft
    2021-12-01 0 days 1,534 sqft
    2022-01-01 0 days 1,662 sqft
    2022-02-01 0 days 1,652 sqft
    2022-03-01 0 days 1,633 sqft
    2022-04-01 0 days 1,535 sqft
    2022-05-01 0 days 1,502 sqft
    2022-06-01 0 days 1,445 sqft
    2022-07-01 0 days 1,502 sqft
    2022-08-01 0 days 1,429 sqft
    2022-09-01 0 days 1,404 sqft
    2022-10-01 0 days 1,432 sqft
    2022-11-01 0 days 1,397 sqft
    2022-12-01 0 days 1,362 sqft
    2023-01-01 0 days 1,322 sqft
    2023-02-01 0 days 1,272 sqft
    2023-03-01 0 days 1,296 sqft
    2023-04-01 0 days 1,423 sqft
    2023-05-01 0 days 1,522 sqft
    2023-06-01 0 days 1,484 sqft
    2023-07-01 0 days 1,572 sqft
    2023-08-01 0 days 1,510 sqft
    2023-09-01 0 days 1,497 sqft
    2023-10-01 0 days 1,617 sqft
    2023-11-01 0 days 1,523 sqft
    2023-12-01 0 days 1,484 sqft
    2024-01-01 0 days 1,429 sqft
    2024-02-01 0 days 1,315 sqft
    2024-03-01 0 days 1,342 sqft
    2024-04-01 0 days 1,396 sqft
    2024-05-01 0 days 1,409 sqft
    2024-06-01 0 days 1,475 sqft
    2024-07-01 0 days 1,468 sqft
    2024-08-01 0 days 1,518 sqft
    2024-09-01 0 days 1,450 sqft
    2024-10-01 0 days 1,471 sqft
    2024-11-01 0 days 1,497 sqft
    2024-12-01 0 days 1,455 sqft
    2025-01-01 0 days 1,554 sqft
    Sikeston's median listing age (time on market) for 2025-01-01 was 0 days.

    Sikeston's median square footage for active listings during the 2025-01-01 period was 1,554 sqft. One year prior, the average listing was 1,429 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).