Sikeston FHA Loan Rates, Closing Costs & Stats

Sikeston, MO

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 6.53% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.5% and one month ago for the week of 2024-11-08, the average rate was 6.26%.

    The average rate one year ago was 6.77%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

    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 $128,450 (27.0%) $146,222 (21.1%) 0.00 68
    2018-02-01 $129,900 (28.0%) $147,000 (24.0%) 0.00 68
    2018-03-01 $129,900 (22.6%) $134,594 (9.9%) 0.00 66
    2018-04-01 $129,900 (13.1%) $136,192 (3.4%) 0.00 74
    2018-05-01 $123,250 (7.3%) $142,091 (2.7%) 0.00 73
    2018-06-01 $119,900 (7.3%) $137,459 (0.6%) 0.00 72
    2018-07-01 $112,925 (0.8%) $134,214 (3.1%) 0.00 80
    2018-08-01 $120,325 (3.6%) $138,356 (2.4%) 0.00 73
    2018-09-01 $123,700 (-1.0%) $138,595 (-2.3%) 0.00 84
    2018-10-01 $129,675 (10.5%) $141,256 (-0.3%) 0.00 84
    2018-11-01 $126,750 (3.5%) $140,223 (-1.5%) 0.00 79
    2018-12-01 $124,000 (-2.0%) $143,739 (-1.9%) 0.00 77
    2019-01-01 $124,225 (-3.3%) $150,617 (3.0%) 0.00 74
    2019-02-01 $127,450 (-1.9%) $155,393 (5.7%) 0.00 76
    2019-03-01 $138,021 (6.3%) $158,135 (17.5%) 0.00 81
    2019-04-01 $138,271 (6.4%) $152,660 (12.1%) 0.00 87
    2019-05-01 $136,225 (10.5%) $156,675 (10.3%) 0.00 87
    2019-06-01 $142,400 (18.8%) $168,492 (22.6%) 0.00 89
    2019-07-01 $144,075 (27.6%) $173,224 (29.1%) 0.00 95
    2019-08-01 $142,336 (18.3%) $167,590 (21.1%) 0.00 112
    2019-09-01 $135,341 (9.4%) $157,843 (13.9%) 0.00 140
    2019-10-01 $129,900 (0.2%) $153,531 (8.7%) 0.00 170
    2019-11-01 $124,900 (-1.5%) $153,897 (9.8%) 0.00 177
    2019-12-01 $129,000 (4.0%) $156,978 (9.2%) 0.00 169
    2020-01-01 $125,450 (1.0%) $154,108 (2.3%) 0.00 161
    2020-02-01 $129,450 (1.6%) $156,893 (1.0%) 0.00 159
    2020-03-01 $125,000 (-9.4%) $152,819 (-3.4%) 0.00 160
    2020-04-01 $124,700 (-9.8%) $152,140 (-0.3%) 0.00 152
    2020-05-01 $124,500 (-8.6%) $150,508 (-3.9%) 0.00 139
    2020-06-01 $129,900 (-8.8%) $151,716 (-10.0%) 0.00 137
    2020-07-01 $134,450 (-6.7%) $152,834 (-11.8%) 0.00 120
    2020-08-01 $142,500 (0.1%) $162,160 (-3.2%) 0.00 95
    2020-09-01 $138,000 (2.0%) $156,693 (-0.7%) 0.00 87
    2020-10-01 $138,000 (6.2%) $161,601 (5.3%) 0.00 83
    2020-11-01 $140,000 (12.1%) $161,674 (5.1%) 0.00 93
    2020-12-01 $139,125 (7.9%) $158,638 (1.1%) 0.00 90
    2021-01-01 $139,000 (10.8%) $154,544 (0.3%) 0.00 84
    2021-02-01 $129,925 (0.4%) $153,399 (-2.2%) 0.00 72
    2021-03-01 $124,226 (-0.6%) $148,038 (-3.1%) 0.00 66
    2021-04-01 $123,338 (-1.1%) $149,282 (-1.9%) 0.00 68
    2021-05-01 $135,450 (8.8%) $152,685 (1.5%) 0.00 66
    2021-06-01 $139,900 (7.7%) $159,822 (5.3%) 0.00 65
    2021-07-01 $149,900 (11.5%) $168,972 (10.6%) 0.00 66
    2021-08-01 $149,925 (5.2%) $177,219 (9.3%) 0.00 64
    2021-09-01 $147,450 (6.9%) $171,046 (9.2%) 0.00 77
    2021-10-01 $143,950 (4.3%) $165,365 (2.3%) 0.00 81
    2021-11-01 $138,675 (-1.0%) $158,360 (-2.1%) 0.00 75
    2021-12-01 $134,900 (-3.0%) $159,668 (0.7%) 0.00 73
    2022-01-01 $149,500 (7.6%) $172,479 (11.6%) 0.00 66
    2022-02-01 $148,650 (14.4%) $186,912 (21.9%) 0.00 65
    2022-03-01 $157,425 (26.7%) $205,563 (38.9%) 0.00 71
    2022-04-01 $150,000 (21.6%) $185,763 (24.4%) 0.00 76
    2022-05-01 $145,000 (7.1%) $176,617 (15.7%) 0.00 76
    2022-06-01 $138,175 (-1.2%) $169,373 (6.0%) 0.00 71
    2022-07-01 $144,900 (-3.3%) $184,160 (9.0%) 0.00 73
    2022-08-01 $123,500 (-17.6%) $168,543 (-4.9%) 0.00 108
    2022-09-01 $117,400 (-20.4%) $174,562 (2.1%) 0.00 115
    2022-10-01 $119,900 (-16.7%) $179,615 (8.6%) 0.00 110
    2022-11-01 $104,925 (-24.3%) $179,801 (13.5%) 0.00 113
    2022-12-01 $99,450 (-26.3%) $172,360 (8.0%) 0.00 127
    2023-01-01 $123,100 (-17.7%) $174,671 (1.3%) 0.00 94
    2023-02-01 $129,450 (-12.9%) $178,845 (-4.3%) 0.00 83
    2023-03-01 $148,500 (-5.7%) $186,507 (-9.3%) 0.00 88
    2023-04-01 $149,900 (-0.1%) $194,089 (4.5%) 0.00 85
    2023-05-01 $159,900 (10.3%) $203,015 (15.0%) 0.00 90
    2023-06-01 $159,900 (15.7%) $202,311 (19.5%) 0.00 89
    2023-07-01 $164,900 (13.8%) $204,804 (11.2%) 0.00 91
    2023-08-01 $161,575 (30.8%) $199,251 (18.2%) 0.00 99
    2023-09-01 $160,000 (36.3%) $201,049 (15.2%) 0.00 96
    2023-10-01 $169,450 (41.3%) $215,154 (19.8%) 0.00 92
    2023-11-01 $164,225 (56.5%) $203,646 (13.3%) 0.00 95
    2023-12-01 $149,900 (50.7%) $199,013 (15.5%) 0.00 85
    2024-01-01 $150,000 (21.9%) $202,102 (15.7%) 0.00 78
    2024-02-01 $132,500 (2.4%) $188,912 (5.6%) 0.00 95
    2024-03-01 $151,250 (1.9%) $213,561 (14.5%) 0.00 91
    2024-04-01 $159,925 (6.7%) $214,551 (10.5%) 0.00 86
    2024-05-01 $163,250 (2.1%) $212,949 (4.9%) 0.00 90
    2024-06-01 $164,950 (3.2%) $216,176 (6.9%) 0.00 89
    2024-07-01 $158,475 (-3.9%) $207,320 (1.2%) 0.00 83
    2024-08-01 $166,450 (3.0%) $217,183 (9.0%) 0.00 83
    2024-09-01 $160,625 (0.4%) $195,613 (-2.7%) 0.00 77
    2024-10-01 $160,125 (-5.5%) $198,083 (-7.9%) 0.00 82
    2024-11-01 $164,900 (0.4%) $185,277 (-9.0%) 0.00 91
    Sikeston's median listing price for 2024-11-01 was $164,900, a difference of $675 (0.4%) versus the prior year and $4,775 versus the prior month.

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

    Sikeston's average listing price for 2024-11-01 was $185,277, a difference of $-18,369 (-9.0%) versus the prior year and $-12,806 versus the prior month.

    For the 2024-11-01 period, Sikeston had 91 MLS listings, a difference of 9 listings (11%) versus the prior month and -4 listings (-4%) 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 1,477 sqft
    2018-02-01 0 days 1,497 sqft
    2018-03-01 0 days 1,507 sqft
    2018-04-01 0 days 1,572 sqft
    2018-05-01 0 days 1,542 sqft
    2018-06-01 0 days 1,466 sqft
    2018-07-01 0 days 1,472 sqft
    2018-08-01 0 days 1,554 sqft
    2018-09-01 0 days 1,542 sqft
    2018-10-01 0 days 1,548 sqft
    2018-11-01 0 days 1,549 sqft
    2018-12-01 0 days 1,547 sqft
    2019-01-01 0 days 1,569 sqft
    2019-02-01 0 days 1,572 sqft
    2019-03-01 0 days 1,633 sqft
    2019-04-01 0 days 1,657 sqft
    2019-05-01 0 days 1,655 sqft
    2019-06-01 0 days 1,720 sqft
    2019-07-01 0 days 1,612 sqft
    2019-08-01 0 days 1,633 sqft
    2019-09-01 0 days 1,679 sqft
    2019-10-01 0 days 1,742 sqft
    2019-11-01 0 days 1,724 sqft
    2019-12-01 0 days 1,700 sqft
    2020-01-01 0 days 1,704 sqft
    2020-02-01 0 days 1,752 sqft
    2020-03-01 0 days 1,730 sqft
    2020-04-01 0 days 1,736 sqft
    2020-05-01 0 days 1,713 sqft
    2020-06-01 0 days 1,721 sqft
    2020-07-01 0 days 1,747 sqft
    2020-08-01 0 days 1,778 sqft
    2020-09-01 0 days 1,722 sqft
    2020-10-01 0 days 1,604 sqft
    2020-11-01 0 days 1,615 sqft
    2020-12-01 0 days 1,555 sqft
    2021-01-01 0 days 1,548 sqft
    2021-02-01 0 days 1,523 sqft
    2021-03-01 0 days 1,609 sqft
    2021-04-01 0 days 1,554 sqft
    2021-05-01 0 days 1,554 sqft
    2021-06-01 0 days 1,619 sqft
    2021-07-01 0 days 1,652 sqft
    2021-08-01 0 days 1,652 sqft
    2021-09-01 0 days 1,651 sqft
    2021-10-01 0 days 1,600 sqft
    2021-11-01 0 days 1,527 sqft
    2021-12-01 0 days 1,500 sqft
    2022-01-01 0 days 1,665 sqft
    2022-02-01 0 days 1,655 sqft
    2022-03-01 0 days 1,643 sqft
    2022-04-01 0 days 1,554 sqft
    2022-05-01 0 days 1,615 sqft
    2022-06-01 0 days 1,440 sqft
    2022-07-01 0 days 1,534 sqft
    2022-08-01 0 days 1,399 sqft
    2022-09-01 0 days 1,399 sqft
    2022-10-01 0 days 1,400 sqft
    2022-11-01 0 days 1,315 sqft
    2022-12-01 0 days 1,287 sqft
    2023-01-01 0 days 1,293 sqft
    2023-02-01 0 days 1,275 sqft
    2023-03-01 0 days 1,289 sqft
    2023-04-01 0 days 1,414 sqft
    2023-05-01 0 days 1,484 sqft
    2023-06-01 0 days 1,432 sqft
    2023-07-01 0 days 1,484 sqft
    2023-08-01 0 days 1,442 sqft
    2023-09-01 0 days 1,484 sqft
    2023-10-01 0 days 1,523 sqft
    2023-11-01 0 days 1,484 sqft
    2023-12-01 0 days 1,419 sqft
    2024-01-01 0 days 1,350 sqft
    2024-02-01 0 days 1,301 sqft
    2024-03-01 0 days 1,324 sqft
    2024-04-01 0 days 1,481 sqft
    2024-05-01 0 days 1,450 sqft
    2024-06-01 0 days 1,482 sqft
    2024-07-01 0 days 1,454 sqft
    2024-08-01 0 days 1,487 sqft
    2024-09-01 0 days 1,410 sqft
    2024-10-01 0 days 1,401 sqft
    2024-11-01 0 days 1,488 sqft
    Sikeston's median listing age (time on market) for 2024-11-01 was 0 days.

    Sikeston's median square footage for active listings during the 2024-11-01 period was 1,488 sqft. One year prior, the average listing was 1,484 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).