St. Joseph FHA Loan Rates, Closing Costs & Stats

ST. JOSEPH, MO-KS

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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.

    St. Joseph's 71 lenders originated 401 FHA loans during 2023. The total origination value was $66,345,000, with an average FHA loan value of $165,449.

    St. Joseph FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in St. Joseph averaged 6.38% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    St. Joseph's average FHA mortgage closing costs are $5,275.

    The average rate for the prior week (2024-12-06) was 6.55% and one month ago for the week of 2024-11-08, the average rate was 6.51%.

    The average rate one year ago was 6.93%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.28%.

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

    St. Joseph 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 St. Joseph level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 103 6.94% $6,467
    QUICKEN LOANS, LLC 36 6.30% $8,319
    Flanagan State Bank 28 6.89% $8,179
    PRIMELENDING, A PLAINSCAPITAL COMPANY 15 7.11% $6,651
    U.S. Bank 13 6.75% $5,352
    LEADERONE FINANCIAL CORPORATION 13 6.88% $7,224
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 12 6.94% $6,838
    FLAT BRANCH MORTGAGE, INC. 12 6.70% $7,565
    OPEN MORTGAGE, LLC 10 7.02% $4,781
    ENDEAVOR CAPITAL, LLC. 8 6.64% $7,601
    UNITED WHOLESALE MORTGAGE, LLC 8 5.86% $10,438
    COMMUNITY MORTGAGE, LLC 7 6.79% $7,620
    Arvest Bank 7 6.34% $6,321
    DAS Acquisition Company, LLC 6 7.08% $6,943
    LOANDEPOT.COM, LLC 6 6.14% $10,026
    GUILD MORTGAGE COMPANY 6 6.81% $9,264
    Mr. Cooper ( Nationstar Mortgage ) 5 5.98% $14,453
    AMERISAVE MORTGAGE CORPORATION 5 6.45% $12,099
    BROKER SOLUTIONS, INC. 4 6.69% $9,190
    CROSSCOUNTRY MORTGAGE, LLC 4 6.59% $8,999
    FREEDOM MORTGAGE CORPORATION 4 7.19% $10,548
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 7.08% $7,259
    NBH Bank 3 5.92% $4,142
    Commerce Bank 3 6.83% $6,659
    CARDINAL FINANCIAL 3 5.88% $8,271
    NBKC BANK 2 7.00% $6,018
    Wells Fargo Bank 2 6.88% $5,740
    MID AMERICA MORTGAGE, INC. 2 6.75% $4,045
    PENNYMAC LOAN SERVICES, LLC 2 6.38% $13,661
    North American Savings Bank, F.S.B. 2 6.69% $3,470
    LAKEVIEW LOAN SERVICING, LLC 2 6.25% $9,901
    Flagstar Bank, FSB 2 6.31% $5,404
    CALIBER HOME LOANS, INC. 2 7.38% $8,580
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.94% $9,069
    Plains Commerce Bank 2 6.94% $5,276
    Mortgage Investment Services Corporation 1 6.25% $2,636
    Mortgage Research Center, LLC 1 7.25% $10,042
    Neighborhood Loans, Inc. 1 6.75% $7,679
    NEWREZ LLC 1 6.13% $7,573
    NFM, INC. 1 7.50% $11,378
    Northpointe Bank 1 7.00% $4,923
    Academy Bank 1 6.75% $5,360
    PANORAMA MORTGAGE GROUP, LLC 1 6.63% $6,332
    PHH Mortgage Corporation 1 6.63% $10,953
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.13% $14,805
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.00% $7,819
    BAY EQUITY LLC 1 6.13% $6,990
    S1L, Inc. 1 7.13% $5,663
    Sierra Pacific Mortgage Company, Inc. 1 5.63% $9,916
    SUMMIT FUNDING, INC. 1 6.75% $7,318
    The Central Trust Bank 1 6.00% $6,258
    UMB Bank 1 6.88% $4,152
    United Fidelity Funding Corp. 1 7.13% $9,339
    Armed Forces Bank 1 7.00% $5,374
    American Mortgage & Equity Consultants, Inc. 1 7.50% $5,397
    Waterstone Mortgage Corporation 1 6.63% $7,847
    EVERETT FINANCIAL, INC. 1 7.13% $7,622
    Equity Prime Mortgage LLC 1 7.00% $7,280
    COMMUNITYAMERICA 1 6.38% $9,164
    First Bank 1 5.63% $4,813
    First Federal Bank 1 6.88% $5,907
    First State Bank of St. Charles, Missouri 1 6.13% $11,823
    CHURCHILL MORTGAGE CORPORATION 1 7.00% $7,890
    CHARTER WEST BANK 1 7.13% $8,083
    HALLMARK HOME MORTGAGE, LLC 1 7.00% $10,146
    Ixonia Bank 1 7.00% $7,891
    JPMorgan Chase Bank 1 6.99% $7,352
    Carrington Mortgage Services, LLC 1 6.88% $16,560
    MEGASTAR FINANCIAL CORP. 1 6.50% $5,305
    Midland States Bank 1 7.63% $13,872
    Midwest Mortgage Associates Corporation 1 6.25% $8,271

    The top St. Joseph FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 103 FHA loans originated. Their average total fees are $6,467, which is $1,852 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee St. Joseph FHA lenders (with over 10 loans originated) are OPEN MORTGAGE, LLC ($4,781), U.S. Bank ($5,352), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,467), PRIMELENDING, A PLAINSCAPITAL COMPANY ($6,651) and AMERICAN PORTFOLIO MORTGAGE CORPORATION ($6,838).

    The lowest rate St. Joseph FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.30%), FLAT BRANCH MORTGAGE, INC. (6.70%), U.S. Bank (6.75%), LEADERONE FINANCIAL CORPORATION (6.88%) and Flanagan State Bank (6.89%).

    St. Joseph FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ST. JOSEPH, MO-KS DONIPHAN 2022 $420,680 $538,650 $651,050 $809,150
    ST. JOSEPH, MO-KS ANDREW 2022 $420,680 $538,650 $651,050 $809,150
    ST. JOSEPH, MO-KS BUCHANAN 2022 $420,680 $538,650 $651,050 $809,150
    ST. JOSEPH, MO-KS DEKALB 2022 $420,680 $538,650 $651,050 $809,150
    ST. JOSEPH, MO-KS DONIPHAN 2023 $472,030 $604,400 $730,525 $907,900
    ST. JOSEPH, MO-KS ANDREW 2023 $472,030 $604,400 $730,525 $907,900
    ST. JOSEPH, MO-KS BUCHANAN 2023 $472,030 $604,400 $730,525 $907,900
    ST. JOSEPH, MO-KS DEKALB 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - St. Joseph (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 $127,725 (19.2%) $185,727 (12.2%) 0.00 411
    2018-02-01 $124,950 (19.0%) $186,756 (16.6%) 0.00 401
    2018-03-01 $130,000 (30.9%) $186,428 (18.5%) 0.00 386
    2018-04-01 $126,175 (14.8%) $184,323 (7.7%) 0.00 388
    2018-05-01 $127,475 (21.9%) $179,080 (5.2%) 0.00 415
    2018-06-01 $126,900 (10.4%) $177,643 (3.3%) 0.00 447
    2018-07-01 $129,700 (5.1%) $174,030 (-0.1%) 0.00 421
    2018-08-01 $132,988 (5.6%) $174,041 (-5.0%) 0.00 434
    2018-09-01 $134,900 (6.9%) $175,929 (-4.6%) 0.00 445
    2018-10-01 $131,950 (2.3%) $166,972 (-10.9%) 0.00 459
    2018-11-01 $131,425 (3.5%) $172,072 (-6.5%) 0.00 455
    2018-12-01 $123,500 (-4.0%) $166,406 (-9.5%) 0.00 440
    2019-01-01 $119,900 (-6.1%) $164,844 (-11.2%) 0.00 418
    2019-02-01 $119,450 (-4.4%) $162,893 (-12.8%) 0.00 378
    2019-03-01 $113,471 (-12.7%) $162,830 (-12.7%) 0.00 355
    2019-04-01 $107,271 (-15.0%) $163,060 (-11.5%) 0.00 333
    2019-05-01 $111,175 (-12.8%) $169,685 (-5.3%) 0.00 325
    2019-06-01 $124,700 (-1.7%) $172,948 (-2.6%) 0.00 369
    2019-07-01 $130,225 (0.4%) $174,018 (0.0%) 0.00 385
    2019-08-01 $133,027 (0.0%) $175,919 (1.1%) 0.00 388
    2019-09-01 $136,893 (1.5%) $180,009 (2.3%) 0.00 386
    2019-10-01 $139,900 (6.0%) $184,107 (10.3%) 0.00 382
    2019-11-01 $128,700 (-2.1%) $176,864 (2.8%) 0.00 371
    2019-12-01 $124,950 (1.2%) $174,037 (4.6%) 0.00 354
    2020-01-01 $115,000 (-4.1%) $168,507 (2.2%) 0.00 321
    2020-02-01 $112,250 (-6.0%) $167,874 (3.1%) 0.00 288
    2020-03-01 $129,225 (13.9%) $189,956 (16.7%) 0.00 267
    2020-04-01 $129,900 (21.1%) $189,563 (16.3%) 0.00 243
    2020-05-01 $152,425 (37.1%) $207,968 (22.6%) 0.00 236
    2020-06-01 $164,900 (32.2%) $209,038 (20.9%) 0.00 209
    2020-07-01 $154,475 (18.6%) $213,874 (22.9%) 0.00 194
    2020-08-01 $139,900 (5.2%) $219,470 (24.8%) 0.00 189
    2020-09-01 $129,450 (-5.4%) $208,812 (16.0%) 0.00 204
    2020-10-01 $127,000 (-9.2%) $196,119 (6.5%) 0.00 203
    2020-11-01 $122,400 (-4.9%) $184,874 (4.5%) 0.00 203
    2020-12-01 $122,397 (-2.0%) $178,356 (2.5%) 0.00 204
    2021-01-01 $115,000 (0.0%) $178,656 (6.0%) 0.00 170
    2021-02-01 $125,000 (11.4%) $181,702 (8.2%) 0.00 146
    2021-03-01 $123,756 (-4.2%) $185,828 (-2.2%) 0.00 133
    2021-04-01 $119,675 (-7.9%) $192,655 (1.6%) 0.00 111
    2021-05-01 $120,000 (-21.3%) $202,479 (-2.6%) 0.00 128
    2021-06-01 $119,900 (-27.3%) $201,462 (-3.6%) 0.00 148
    2021-07-01 $125,000 (-19.1%) $205,779 (-3.8%) 0.00 188
    2021-08-01 $119,800 (-14.4%) $184,993 (-15.7%) 0.00 194
    2021-09-01 $113,875 (-12.0%) $167,758 (-19.7%) 0.00 215
    2021-10-01 $109,900 (-13.5%) $162,223 (-17.3%) 0.00 226
    2021-11-01 $107,700 (-12.0%) $159,179 (-13.9%) 0.00 212
    2021-12-01 $102,750 (-16.1%) $154,150 (-13.6%) 0.00 181
    2022-01-01 $123,450 (7.4%) $160,255 (-10.3%) 0.00 157
    2022-02-01 $118,600 (-5.1%) $184,395 (1.5%) 0.00 130
    2022-03-01 $122,450 (-1.1%) $189,631 (2.1%) 0.00 107
    2022-04-01 $150,000 (25.3%) $213,387 (10.8%) 0.00 106
    2022-05-01 $187,400 (56.2%) $257,210 (27.0%) 0.00 118
    2022-06-01 $166,150 (38.6%) $229,067 (13.7%) 0.00 146
    2022-07-01 $170,000 (36.0%) $228,897 (11.2%) 0.00 169
    2022-08-01 $165,250 (37.9%) $225,605 (22.0%) 0.00 188
    2022-09-01 $165,400 (45.3%) $206,369 (23.0%) 0.00 175
    2022-10-01 $159,900 (45.5%) $193,546 (19.3%) 0.00 182
    2022-11-01 $162,000 (50.4%) $193,903 (21.8%) 0.00 199
    2022-12-01 $160,000 (55.7%) $196,776 (27.7%) 0.00 174
    2023-01-01 $154,925 (25.5%) $192,812 (20.3%) 0.00 145
    2023-02-01 $142,725 (20.3%) $203,189 (10.2%) 0.00 123
    2023-03-01 $149,900 (22.4%) $202,839 (7.0%) 0.00 109
    2023-04-01 $167,450 (11.6%) $216,576 (1.5%) 0.00 113
    2023-05-01 $191,200 (2.0%) $242,685 (-5.7%) 0.00 121
    2023-06-01 $200,975 (21.0%) $253,327 (10.6%) 0.00 143
    2023-07-01 $189,900 (11.7%) $254,147 (11.0%) 0.00 157
    2023-08-01 $181,100 (9.6%) $253,359 (12.3%) 0.00 157
    2023-09-01 $177,500 (7.3%) $232,498 (12.7%) 0.00 181
    2023-10-01 $181,200 (13.3%) $244,218 (26.2%) 0.00 182
    2023-11-01 $177,450 (9.5%) $245,673 (26.7%) 0.00 189
    2023-12-01 $177,500 (10.9%) $245,326 (24.7%) 0.00 191
    2024-01-01 $169,450 (9.4%) $235,703 (22.2%) 0.00 174
    2024-02-01 $154,950 (8.6%) $223,977 (10.2%) 0.00 166
    2024-03-01 $169,900 (13.3%) $240,467 (18.6%) 0.00 141
    2024-04-01 $170,100 (1.6%) $271,074 (25.2%) 0.00 148
    2024-05-01 $189,900 (-0.7%) $291,597 (20.2%) 0.00 157
    2024-06-01 $202,450 (0.7%) $293,952 (16.0%) 0.00 170
    2024-07-01 $190,675 (0.4%) $280,160 (10.2%) 0.00 182
    2024-08-01 $228,000 (25.9%) $292,603 (15.5%) 0.00 192
    2024-09-01 $233,600 (31.6%) $295,548 (27.1%) 0.00 214
    2024-10-01 $221,225 (22.1%) $266,637 (9.2%) 0.00 217
    2024-11-01 $225,000 (26.8%) $267,379 (8.8%) 0.00 197
    St. Joseph's median listing price for 2024-11-01 was $225,000, a difference of $47,550 (26.8%) versus the prior year and $3,775 versus the prior month.

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

    St. Joseph's average listing price for 2024-11-01 was $267,379, a difference of $21,706 (8.8%) versus the prior year and $742 versus the prior month.

    For the 2024-11-01 period, St. Joseph had 197 MLS listings, a difference of -20 listings (-9%) versus the prior month and 8 listings (4%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - St. Joseph (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,566 sqft
    2018-02-01 0 days 1,546 sqft
    2018-03-01 0 days 1,556 sqft
    2018-04-01 0 days 1,543 sqft
    2018-05-01 0 days 1,549 sqft
    2018-06-01 0 days 1,520 sqft
    2018-07-01 0 days 1,454 sqft
    2018-08-01 0 days 1,503 sqft
    2018-09-01 0 days 1,546 sqft
    2018-10-01 0 days 1,533 sqft
    2018-11-01 0 days 1,560 sqft
    2018-12-01 0 days 1,560 sqft
    2019-01-01 0 days 1,561 sqft
    2019-02-01 0 days 1,555 sqft
    2019-03-01 0 days 1,562 sqft
    2019-04-01 0 days 1,550 sqft
    2019-05-01 0 days 1,597 sqft
    2019-06-01 0 days 1,600 sqft
    2019-07-01 0 days 1,613 sqft
    2019-08-01 0 days 1,653 sqft
    2019-09-01 0 days 1,707 sqft
    2019-10-01 0 days 1,733 sqft
    2019-11-01 0 days 1,652 sqft
    2019-12-01 0 days 1,600 sqft
    2020-01-01 0 days 1,584 sqft
    2020-02-01 0 days 1,518 sqft
    2020-03-01 0 days 1,696 sqft
    2020-04-01 0 days 1,667 sqft
    2020-05-01 0 days 1,736 sqft
    2020-06-01 0 days 1,719 sqft
    2020-07-01 0 days 1,668 sqft
    2020-08-01 0 days 1,652 sqft
    2020-09-01 0 days 1,568 sqft
    2020-10-01 0 days 1,576 sqft
    2020-11-01 0 days 1,524 sqft
    2020-12-01 0 days 1,483 sqft
    2021-01-01 0 days 1,555 sqft
    2021-02-01 0 days 1,568 sqft
    2021-03-01 0 days 1,525 sqft
    2021-04-01 0 days 1,512 sqft
    2021-05-01 0 days 1,577 sqft
    2021-06-01 0 days 1,500 sqft
    2021-07-01 0 days 1,500 sqft
    2021-08-01 0 days 1,524 sqft
    2021-09-01 0 days 1,482 sqft
    2021-10-01 0 days 1,440 sqft
    2021-11-01 0 days 1,349 sqft
    2021-12-01 0 days 1,352 sqft
    2022-01-01 0 days 1,316 sqft
    2022-02-01 0 days 1,338 sqft
    2022-03-01 0 days 1,383 sqft
    2022-04-01 0 days 1,553 sqft
    2022-05-01 0 days 1,716 sqft
    2022-06-01 0 days 1,589 sqft
    2022-07-01 0 days 1,584 sqft
    2022-08-01 0 days 1,526 sqft
    2022-09-01 0 days 1,555 sqft
    2022-10-01 0 days 1,476 sqft
    2022-11-01 0 days 1,458 sqft
    2022-12-01 0 days 1,524 sqft
    2023-01-01 0 days 1,459 sqft
    2023-02-01 0 days 1,342 sqft
    2023-03-01 0 days 1,427 sqft
    2023-04-01 0 days 1,594 sqft
    2023-05-01 0 days 1,620 sqft
    2023-06-01 0 days 1,656 sqft
    2023-07-01 0 days 1,640 sqft
    2023-08-01 0 days 1,685 sqft
    2023-09-01 0 days 1,594 sqft
    2023-10-01 0 days 1,574 sqft
    2023-11-01 0 days 1,689 sqft
    2023-12-01 0 days 1,710 sqft
    2024-01-01 0 days 1,598 sqft
    2024-02-01 0 days 1,588 sqft
    2024-03-01 0 days 1,594 sqft
    2024-04-01 0 days 1,572 sqft
    2024-05-01 0 days 1,725 sqft
    2024-06-01 0 days 1,716 sqft
    2024-07-01 0 days 1,725 sqft
    2024-08-01 0 days 1,688 sqft
    2024-09-01 0 days 1,704 sqft
    2024-10-01 0 days 1,659 sqft
    2024-11-01 0 days 1,643 sqft
    St. Joseph's median listing age (time on market) for 2024-11-01 was 0 days.

    St. Joseph's median square footage for active listings during the 2024-11-01 period was 1,643 sqft. One year prior, the average listing was 1,689 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).