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 450 FHA loans during 2022. The total origination value was $68,810,000, with an average FHA loan value of $152,911.

St. Joseph FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in St. Joseph averaged 6.34% for the week of 2024-02-16, compared to the national average (all FHA variants) of 6.611% for the same period.

St. Joseph's average FHA mortgage closing costs are $4,926.

The average rate for the prior week (2024-02-09) was 6.44% and one month ago for the week of 2024-01-12, the average rate was 6.18%.

The average rate one year ago was 6.03%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.99%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
PRIMELENDING, A PLAINSCAPITAL COMPANY 62 5.03% $6,301
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 58 5.64% $6,590
QUICKEN LOANS, LLC 51 4.71% $6,042
U.S. Bank 25 5.11% $5,020
Flanagan State Bank 25 5.47% $6,599
FLAT BRANCH MORTGAGE, INC. 23 5.28% $6,085
LEADERONE FINANCIAL CORPORATION 16 5.17% $6,374
AMERICAN PORTFOLIO MORTGAGE CORPORATION 9 4.78% $5,956
ENDEAVOR CAPITAL, LLC. 8 4.92% $6,290
MORTGAGE SOLUTIONS OF COLORADO, LLC 8 5.94% $8,629
COMMUNITY MORTGAGE, LLC 7 5.21% $6,547
AMERISAVE MORTGAGE CORPORATION 6 5.71% $10,138
LAKEVIEW LOAN SERVICING, LLC 6 4.82% $6,986
CROSSCOUNTRY MORTGAGE, LLC 5 4.57% $7,647
Carrington Mortgage Services, LLC 5 5.03% $8,342
Flagstar Bank, FSB 5 4.91% $7,505
NBH Bank 5 5.03% $2,814
LOANDEPOT.COM, LLC 5 4.40% $9,132
DAS Acquisition Company, LLC 5 6.27% $6,588
PENNYMAC LOAN SERVICES, LLC 4 4.22% $8,617
MID AMERICA MORTGAGE, INC. 3 4.13% $4,674
Mortgage Research Center, LLC 3 4.79% $4,636
OPEN MORTGAGE, LLC 3 4.92% $7,933
PANORAMA MORTGAGE GROUP, LLC 3 6.21% $8,039
Prosperity Home Mortgage, LLC 3 5.54% $6,910
FREEDOM MORTGAGE CORPORATION 3 5.25% $6,300
GERSHMAN INVESTMENT CORP. 3 5.38% $4,466
Wells Fargo Bank 3 4.79% $5,392
CARDINAL FINANCIAL 3 4.24% $6,021
BNC National Bank 3 5.67% $5,789
Mortgage Investment Services Corporation 3 5.83% $5,174
HOME POINT FINANCIAL CORPORATION 2 4.43% $9,807
UNION HOME MORTGAGE CORP. 2 4.56% $6,322
Commerce Bank 2 5.81% $4,992
UMB Bank 2 5.88% $7,356
PLAZA HOME MORTGAGE, INC. 2 5.56% $5,604
PLANET HOME LENDING, LLC 2 4.25% $4,097
BROKER SOLUTIONS, INC. 2 4.50% $7,305
North American Savings Bank, F.S.B. 2 4.63% $2,295
NBKC BANK 2 5.44% $6,280
FINANCE OF AMERICA MORTGAGE LLC 2 6.56% $6,014
BAY EQUITY LLC 2 5.25% $6,555
AMERICAN FINANCING CORPORATION 2 5.31% $7,064
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.06% $6,024
Wyndham Capital Mortgage, Inc. 1 4.00% $5,516
Arvest Bank 1 6.00% $5,702
Bank of England 1 6.25% $7,619
CALIBER HOME LOANS, INC. 1 5.25% $5,930
CMG MORTGAGE, INC. 1 6.00% $12,868
ENVOY MORTGAGE, LTD 1 6.38% $7,663
EVERETT FINANCIAL, INC. 1 3.88% $5,015
First Bank 1 5.63% $6,910
GUARANTEED RATE, INC. 1 3.63% $4,180
GUILD MORTGAGE COMPANY 1 6.13% $6,727
HALLMARK HOME MORTGAGE, LLC 1 7.25% $6,478
HOMESIDE FINANCIAL, LLC 1 4.75% $6,542
Hometown Lenders, Inc. 1 3.50% $8,469
INLANTA MORTGAGE, INC. 1 5.13% $5,247
JLB CORPORATION 1 4.75% $9,333
JPMorgan Chase Bank 1 4.63% $9,012
LAND HOME FINANCIAL SERVICES, INC. 1 6.75% $7,458
LOANPAL, LLC 1 3.13% $12,567
Members Mortgage Services, L.L.C. 1 6.75% $4,745
Mr. Cooper ( Nationstar Mortgage ) 1 3.50% $1,555
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.25% $9,403
Paramount Residential Mortgage Group, Inc. 1 6.25% $6,653
SUMMIT FUNDING, INC. 1 5.25% $6,176
The Federal Savings Bank 1 6.13% $10,136
TOP FLITE FINANCIAL, INC. 1 5.25% $20,577
UNITED WHOLESALE MORTGAGE, LLC 1 6.13% $8,357
VILLAGE CAPITAL MORTGAGE 1 2.99% $2,612

The top St. Joseph FHA lender as defined by loan originations is PRIMELENDING, A PLAINSCAPITAL COMPANY, with 62 FHA loans originated. Their average total fees are $6,301, which is $289 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee St. Joseph FHA lenders (with over 10 loans originated) are U.S. Bank ($5,020), QUICKEN LOANS, LLC ($6,042), FLAT BRANCH MORTGAGE, INC. ($6,085), PRIMELENDING, A PLAINSCAPITAL COMPANY ($6,301) and LEADERONE FINANCIAL CORPORATION ($6,374).

The lowest rate St. Joseph FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.71%), PRIMELENDING, A PLAINSCAPITAL COMPANY (5.03%), U.S. Bank (5.11%), LEADERONE FINANCIAL CORPORATION (5.17%) and FLAT BRANCH MORTGAGE, INC. (5.28%).

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 (12.7%) 0.00 411
2018-02-01 $124,950 (19.0%) $186,756 (17.0%) 0.00 401
2018-03-01 $130,000 (30.9%) $186,428 (18.9%) 0.00 386
2018-04-01 $126,175 (14.8%) $184,323 (8.1%) 0.00 388
2018-05-01 $127,475 (21.9%) $179,080 (5.5%) 0.00 415
2018-06-01 $126,900 (10.4%) $177,643 (3.7%) 0.00 447
2018-07-01 $129,700 (5.1%) $174,030 (0.2%) 0.00 421
2018-08-01 $132,988 (5.6%) $174,041 (-4.7%) 0.00 434
2018-09-01 $134,900 (6.9%) $175,929 (-4.4%) 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 (-9.8%) 0.00 440
2019-01-01 $119,900 (-6.1%) $164,844 (-11.5%) 0.00 418
2019-02-01 $119,450 (-4.4%) $162,893 (-13.1%) 0.00 378
2019-03-01 $113,471 (-12.7%) $162,830 (-12.9%) 0.00 355
2019-04-01 $107,271 (-15.0%) $163,060 (-11.2%) 0.00 333
2019-05-01 $111,175 (-12.8%) $169,685 (-4.4%) 0.00 325
2019-06-01 $124,700 (-1.7%) $172,948 (-2.1%) 0.00 369
2019-07-01 $130,225 (0.4%) $174,018 (0.8%) 0.00 385
2019-08-01 $133,027 (0.0%) $175,919 (1.6%) 0.00 388
2019-09-01 $136,893 (1.5%) $180,009 (2.5%) 0.00 386
2019-10-01 $139,900 (6.0%) $184,107 (10.2%) 0.00 382
2019-11-01 $128,700 (-2.1%) $176,864 (2.5%) 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 (16.8%) 0.00 267
2020-04-01 $129,900 (21.1%) $189,563 (15.6%) 0.00 243
2020-05-01 $152,425 (37.1%) $207,968 (21.0%) 0.00 236
2020-06-01 $164,900 (32.2%) $209,038 (19.8%) 0.00 209
2020-07-01 $154,475 (18.6%) $213,874 (21.6%) 0.00 194
2020-08-01 $139,900 (5.2%) $219,470 (23.8%) 0.00 189
2020-09-01 $129,450 (-5.4%) $208,812 (15.5%) 0.00 204
2020-10-01 $127,000 (-9.2%) $196,119 (6.3%) 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 (6.3%) 0.00 170
2021-02-01 $125,000 (11.4%) $181,702 (8.5%) 0.00 146
2021-03-01 $123,756 (-4.2%) $185,828 (-2.0%) 0.00 133
2021-04-01 $119,675 (-7.9%) $192,655 (1.8%) 0.00 111
2021-05-01 $120,000 (-21.3%) $202,479 (-2.4%) 0.00 128
2021-06-01 $119,900 (-27.3%) $201,462 (-3.4%) 0.00 148
2021-07-01 $125,000 (-19.1%) $205,779 (-3.6%) 0.00 188
2021-08-01 $119,800 (-14.4%) $184,993 (-15.5%) 0.00 194
2021-09-01 $113,875 (-12.0%) $167,758 (-19.8%) 0.00 215
2021-10-01 $109,900 (-13.5%) $162,223 (-17.1%) 0.00 226
2021-11-01 $107,700 (-12.0%) $159,179 (-13.6%) 0.00 212
2021-12-01 $102,750 (-16.1%) $154,150 (-12.8%) 0.00 181
2022-01-01 $123,450 (7.4%) $160,255 (-10.1%) 0.00 157
2022-02-01 $118,600 (-5.1%) $184,395 (1.6%) 0.00 130
2022-03-01 $122,450 (-1.1%) $189,631 (2.2%) 0.00 107
2022-04-01 $150,000 (25.3%) $213,387 (10.9%) 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 (13.8%) 0.00 146
2022-07-01 $170,000 (36.0%) $228,897 (11.3%) 0.00 169
2022-08-01 $165,250 (37.9%) $225,605 (21.9%) 0.00 188
2022-09-01 $165,400 (45.3%) $206,369 (23.5%) 0.00 175
2022-10-01 $159,900 (45.5%) $193,546 (19.4%) 0.00 182
2022-11-01 $162,000 (50.4%) $193,903 (21.7%) 0.00 199
2022-12-01 $160,000 (55.7%) $196,776 (27.4%) 0.00 174
2023-01-01 $154,925 (25.5%) $192,812 (20.7%) 0.00 145
2023-02-01 $142,725 (20.3%) $203,189 (10.6%) 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 (-5.5%) 0.00 121
2023-06-01 $200,975 (21.0%) $253,327 (10.3%) 0.00 143
2023-07-01 $189,900 (11.7%) $254,147 (10.8%) 0.00 157
2023-08-01 $181,100 (9.6%) $253,359 (12.1%) 0.00 157
2023-09-01 $177,500 (7.3%) $232,498 (12.4%) 0.00 181
2023-10-01 $181,200 (13.3%) $244,218 (25.8%) 0.00 182
2023-11-01 $177,450 (9.5%) $245,673 (26.3%) 0.00 189
2023-12-01 $177,500 (10.9%) $245,326 (0.0%) 0.00 191
St. Joseph's median listing price for 2023-12-01 was $177,500, a difference of $17,500 (10.9%) versus the prior year and $50 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 2023-12-01 was $245,326, a difference of $48,550 (0.0%) versus the prior year and $-347 versus the prior month.

For the 2023-12-01 period, St. Joseph had 191 MLS listings, a difference of 2 listings (1%) versus the prior month and 17 listings (10%) 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 1,564 sqft
2018-02-01 0 days 1,542 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
St. Joseph's median listing age (time on market) for 2023-12-01 was 0 days.

St. Joseph's median square footage for active listings during the 2023-12-01 period was 1,710 sqft. One year prior, the average listing was 1,524 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).