St. Joseph FHA Loan Rates, Closing Costs & Stats

ST. JOSEPH, MO-KS

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 0.11% for the week of 2024-11-29, compared to the national average (all FHA variants) of 0% for the same period.

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

The average rate for the prior week (2024-11-22) was 6.9% and one month ago for the week of 2024-10-25, the average rate was 6.58%.

The average rate one year ago was 7.27%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.2%.

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
St. Joseph's median listing price for 2024-10-01 was $221,225, a difference of $40,025 (22.1%) versus the prior year and $-12,375 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 2024-10-01 was $266,637, a difference of $22,419 (9.2%) versus the prior year and $-28,911 versus the prior month.

For the 2024-10-01 period, St. Joseph had 217 MLS listings, a difference of 3 listings (1%) versus the prior month and 35 listings (19%) 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
St. Joseph's median listing age (time on market) for 2024-10-01 was 0 days.

St. Joseph's median square footage for active listings during the 2024-10-01 period was 1,659 sqft. One year prior, the average listing was 1,574 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).