Terre Haute FHA Loans
TERRE HAUTE, IN
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.
Terre Haute's 70 lenders originated 739 FHA loans during 2021. The total origination value was $88,965,000, with an average FHA loan value of $120,386.
Terre Haute FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Terre Haute
averaged
5.49%
for the week of 2022-05-13, compared to the national average (all FHA variants) of
5.361% for the same period.
The average rate for the prior week (2022-05-06) was
5.42% and
one month ago for the week of 2022-04-08, the
average rate was 5.28%.
The average rate one year ago was 3.19%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.03%.
Terre Haute FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Terre Haute level.
The top Terre Haute FHA lender as defined by loan originations is RUOFF MORTGAGE COMPANY, INC., with
237 FHA loans originated. Their average total fees are
$3,228, which is $1,710
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Terre Haute FHA lenders (with over 10 loans originated) are
PENNYMAC LOAN SERVICES, LLC ($2,690), Mr. Cooper ( Nationstar Mortgage ) ($2,785), RUOFF MORTGAGE COMPANY, INC. ($3,228), FREEDOM MORTGAGE CORPORATION ($3,563) and Old National Bank ($4,362).
The lowest rate Terre Haute FHA lenders (with over 10 loans originated) are
CALIBER HOME LOANS, INC. (2.87%), QUICKEN LOANS, LLC (2.87%), First Financial Bank (3.03%), FREEDOM MORTGAGE CORPORATION (3.12%) and PENNYMAC LOAN SERVICES, LLC (3.25%).
Terre Haute FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
TERRE HAUTE, IN | CLAY | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
TERRE HAUTE, IN | PARKE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
TERRE HAUTE, IN | SULLIVAN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
TERRE HAUTE, IN | VERMILLION | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
TERRE HAUTE, IN | VIGO | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Terre Haute (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $79,900 (-5.9%) | $133,624 (9.1%) | 0.29 | 553 |
2018-02-01 | $79,900 (-1.8%) | $137,929 (13.8%) | 0.29 | 523 |
2018-03-01 | $82,000 (-3.4%) | $146,134 (18.1%) | 0.28 | 461 |
2018-04-01 | $89,700 (2.5%) | $147,878 (16.5%) | 0.30 | 488 |
2018-05-01 | $91,700 (2.0%) | $140,448 (3.4%) | 0.31 | 481 |
2018-06-01 | $99,900 (10.5%) | $147,274 (6.6%) | 0.33 | 534 |
2018-07-01 | $109,900 (22.3%) | $147,032 (4.5%) | 0.37 | 533 |
2018-08-01 | $113,900 (26.7%) | $147,923 (3.8%) | 0.38 | 528 |
2018-09-01 | $109,900 (22.3%) | $143,764 (-0.2%) | 0.37 | 587 |
2018-10-01 | $104,950 (17.3%) | $142,509 (2.9%) | 0.35 | 592 |
2018-11-01 | $105,000 (25.1%) | $140,940 (7.5%) | 0.35 | 570 |
2018-12-01 | $96,500 (12.2%) | $136,973 (2.7%) | 0.33 | 541 |
2019-01-01 | $94,950 (18.8%) | $133,350 (-0.2%) | 0.33 | 531 |
2019-02-01 | $90,500 (13.3%) | $135,757 (-1.6%) | 0.30 | 486 |
2019-03-01 | $88,929 (8.5%) | $136,519 (-6.6%) | 0.29 | 452 |
2019-04-01 | $88,879 (-0.9%) | $142,216 (-3.8%) | 0.28 | 422 |
2019-05-01 | $87,400 (-4.7%) | $143,807 (2.4%) | 0.27 | 427 |
2019-06-01 | $88,900 (-11.0%) | $147,419 (0.1%) | 0.27 | 476 |
2019-07-01 | $95,000 (-13.6%) | $149,934 (2.0%) | 0.30 | 493 |
2019-08-01 | $96,714 (-15.1%) | $149,264 (0.9%) | 0.30 | 507 |
2019-09-01 | $96,664 (-12.0%) | $147,501 (2.6%) | 0.31 | 523 |
2019-10-01 | $95,400 (-9.1%) | $142,689 (0.1%) | 0.30 | 546 |
2019-11-01 | $89,900 (-14.4%) | $138,782 (-1.5%) | 0.29 | 515 |
2019-12-01 | $88,000 (-8.8%) | $134,097 (-2.1%) | 0.29 | 484 |
2020-01-01 | $90,075 (-5.1%) | $139,413 (4.6%) | 0.30 | 493 |
2020-02-01 | $94,900 (4.9%) | $138,796 (2.2%) | 0.31 | 527 |
2020-03-01 | $91,900 (3.3%) | $141,745 (3.8%) | 0.29 | 447 |
2020-04-01 | $93,700 (5.4%) | $143,530 (0.9%) | 0.29 | 415 |
2020-05-01 | $100,000 (14.4%) | $161,088 (12.0%) | 0.30 | 369 |
2020-06-01 | $112,200 (26.2%) | $164,857 (11.8%) | 0.33 | 355 |
2020-07-01 | $132,450 (39.4%) | $180,362 (20.3%) | 0.38 | 334 |
2020-08-01 | $114,900 (18.8%) | $180,574 (21.0%) | 0.33 | 345 |
2020-09-01 | $119,900 (24.0%) | $173,223 (17.4%) | 0.34 | 337 |
2020-10-01 | $119,900 (25.7%) | $175,089 (22.7%) | 0.34 | 302 |
2020-11-01 | $99,500 (10.7%) | $170,306 (22.7%) | 0.28 | 330 |
2020-12-01 | $98,250 (11.7%) | $168,237 (25.5%) | 0.29 | 307 |
2021-01-01 | $89,900 (-0.2%) | $165,927 (19.0%) | 0.26 | 267 |
2021-02-01 | $97,500 (2.7%) | $168,096 (21.1%) | 0.28 | 218 |
2021-03-01 | $99,250 (8.0%) | $162,316 (14.5%) | 0.28 | 212 |
2021-04-01 | $124,200 (32.6%) | $180,429 (25.7%) | 0.33 | 187 |
2021-05-01 | $129,900 (29.9%) | $190,178 (18.1%) | 0.34 | 199 |
2021-06-01 | $127,400 (13.6%) | $185,924 (12.8%) | 0.33 | 245 |
2021-07-01 | $121,500 (-8.3%) | $180,005 (-0.2%) | 0.32 | 270 |
2021-08-01 | $134,900 (17.4%) | $196,268 (8.7%) | 0.35 | 289 |
2021-09-01 | $127,200 (6.1%) | $192,433 (11.1%) | 0.33 | 325 |
2021-10-01 | $129,900 (8.3%) | $194,078 (10.9%) | 0.34 | 305 |
2021-11-01 | $127,900 (28.5%) | $194,906 (14.4%) | 0.34 | 268 |
2021-12-01 | $117,450 (19.5%) | $192,078 (14.2%) | 0.31 | 227 |
2022-01-01 | $109,900 (22.3%) | $175,794 (6.0%) | 0.29 | 199 |
2022-02-01 | $104,900 (7.6%) | $162,829 (-3.1%) | 0.27 | 174 |
2022-03-01 | $127,150 (28.1%) | $156,155 (-3.8%) | 0.31 | 172 |
2022-04-01 | $119,000 (-4.2%) | $160,723 (-10.9%) | 0.28 | 171 |
Terre Haute's median listing price comes in at 28% of the national average.
Terre Haute's average listing price for 2022-04-01 was $160,723, a difference of $-19,706 (-10.9%) versus the prior year and $4,568 versus the prior month.
For the 2022-04-01 period, Terre Haute had 171 MLS listings, a difference of -1 listings (-1%) versus the prior month and -16 listings (-9%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Terre Haute (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 84 days | 1,542 sqft |
2018-02-01 | 88 days | 1,532 sqft |
2018-03-01 | 86 days | 1,567 sqft |
2018-04-01 | 60 days | 1,693 sqft |
2018-05-01 | 61 days | 1,672 sqft |
2018-06-01 | 57 days | 1,672 sqft |
2018-07-01 | 58 days | 1,673 sqft |
2018-08-01 | 62 days | 1,726 sqft |
2018-09-01 | 57 days | 1,726 sqft |
2018-10-01 | 64 days | 1,756 sqft |
2018-11-01 | 69 days | 1,705 sqft |
2018-12-01 | 75 days | 1,668 sqft |
2019-01-01 | 84 days | 1,653 sqft |
2019-02-01 | 88 days | 1,619 sqft |
2019-03-01 | 69 days | 1,634 sqft |
2019-04-01 | 55 days | 1,661 sqft |
2019-05-01 | 57 days | 1,624 sqft |
2019-06-01 | 52 days | 1,599 sqft |
2019-07-01 | 56 days | 1,599 sqft |
2019-08-01 | 64 days | 1,599 sqft |
2019-09-01 | 64 days | 1,599 sqft |
2019-10-01 | 66 days | 1,592 sqft |
2019-11-01 | 71 days | 1,568 sqft |
2019-12-01 | 81 days | 1,542 sqft |
2020-01-01 | 81 days | 1,554 sqft |
2020-02-01 | 80 days | 1,524 sqft |
2020-03-01 | 60 days | 1,488 sqft |
2020-04-01 | 67 days | 1,493 sqft |
2020-05-01 | 81 days | 1,562 sqft |
2020-06-01 | 83 days | 1,599 sqft |
2020-07-01 | 64 days | 1,599 sqft |
2020-08-01 | 59 days | 1,598 sqft |
2020-09-01 | 53 days | 1,578 sqft |
2020-10-01 | 59 days | 1,593 sqft |
2020-11-01 | 55 days | 1,599 sqft |
2020-12-01 | 60 days | 1,584 sqft |
2021-01-01 | 79 days | 1,512 sqft |
2021-02-01 | 89 days | 1,539 sqft |
2021-03-01 | 78 days | 1,500 sqft |
2021-04-01 | 68 days | 1,599 sqft |
2021-05-01 | 49 days | 1,599 sqft |
2021-06-01 | 34 days | 1,601 sqft |
2021-07-01 | 38 days | 1,607 sqft |
2021-08-01 | 44 days | 1,686 sqft |
2021-09-01 | 45 days | 1,664 sqft |
2021-10-01 | 50 days | 1,599 sqft |
2021-11-01 | 52 days | 1,512 sqft |
2021-12-01 | 64 days | 1,511 sqft |
2022-01-01 | 69 days | 1,488 sqft |
2022-02-01 | 72 days | 1,522 sqft |
2022-03-01 | 44 days | 1,484 sqft |
2022-04-01 | 43 days | 1,536 sqft |
Terre Haute's median square footage for active listings during the 2022-04-01 period was 1,536 sqft. One year prior, the average listing was 1,599 sqft.