The Villages FHA Loan Rates, Closing Costs & Stats

THE VILLAGES, FL

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.

The Villages's 75 lenders originated 368 FHA loans during 2022. The total origination value was $83,830,000, with an average FHA loan value of $227,799.

The Villages FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in The Villages averaged 6.28% for the week of 2024-02-16, compared to the national average (all FHA variants) of 6.611% for the same period.

The Villages's average FHA mortgage closing costs are $8,219.

The average rate for the prior week (2024-02-09) was 6.09% and one month ago for the week of 2024-01-12, the average rate was 6.23%.

The average rate one year ago was 5.88%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.12%.

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

The Villages 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 The Villages level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
DHI MORTGAGE COMPANY, LTD. 29 4.56% $10,088
QUICKEN LOANS, LLC 22 4.42% $11,945
UNITED WHOLESALE MORTGAGE, LLC 20 5.28% $11,454
Carrington Mortgage Services, LLC 9 4.96% $10,285
INSPIRE HOME LOANS INC. 9 5.40% $9,082
AMERIFIRST FINANCIAL CORPORATION 8 4.98% $10,158
HOME POINT FINANCIAL CORPORATION 7 5.07% $10,024
Nations Lending Corporation 7 5.25% $12,709
SUCCESS MORTGAGE PARTNERS, INC. 7 4.80% $14,216
Flagstar Bank, FSB 7 5.06% $12,107
CROSSCOUNTRY MORTGAGE, LLC 6 5.33% $10,825
LOANDEPOT.COM, LLC 6 4.33% $10,801
CALIBER HOME LOANS, INC. 4 4.77% $11,312
AMERICAN FINANCIAL RESOURCES, INC. 4 5.84% $10,947
Equity Prime Mortgage LLC 4 5.84% $13,975
Mr. Cooper ( Nationstar Mortgage ) 3 4.29% $13,160
CARDINAL FINANCIAL 3 4.88% $14,664
BROKER SOLUTIONS, INC. 3 5.12% $10,286
MOVEMENT MORTGAGE, LLC 3 5.63% $8,126
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 4.83% $11,610
Paramount Residential Mortgage Group, Inc. 3 6.21% $12,534
PENNYMAC LOAN SERVICES, LLC 3 4.83% $10,999
NATIONS RELIABLE LENDING, LLC 2 5.06% $10,817
HUNT MORTGAGE CORPORATION 2 5.06% $7,047
AMERICAN FINANCING CORPORATION 2 4.62% $11,359
AMERICAN PACIFIC MORTGAGE CORPORATION 2 4.12% $13,648
MORTGAGE FINANCIAL GROUP, INC. 2 6.56% $10,215
CONTOUR MORTGAGE CORPORATION 2 4.25% $9,823
1ST SIGNATURE LENDING, LLC 2 4.63% $8,874
PLANET HOME LENDING, LLC 2 5.13% $11,496
PREMIER MORTGAGE RESOURCES, L.L.C. 2 6.50% $9,382
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.69% $12,505
FBC MORTGAGE, LLC 2 5.69% $10,452
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.25% $8,400
EVERETT FINANCIAL, INC. 2 5.31% $5,625
The Home Loan Expert LLC 1 5.00% $12,421
THE MORTGAGE FIRM, INC. 1 3.75% $12,754
United Fidelity Funding Corp. 1 5.50% $16,451
VYSTAR 1 5.63% $7,153
Wells Fargo Bank 1 4.50% $6,503
ZILLOW HOME LOANS, LLC 1 2.38% $11,613
ABSOLUTE HOME MORTGAGE CORPORATION 1 6.25% $11,257
Alcova Mortgage LLC 1 5.50% $11,575
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 3.00% $5,471
AMERISAVE MORTGAGE CORPORATION 1 4.25% $18,603
Ameris Bank 1 4.00% $12,141
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.50% $10,122
Bank of America 1 3.75% $6,182
Christensen Financial, Inc. 1 4.25% $12,202
Colonial Savings, F.A. 1 5.38% $14,992
EMM LOANS LLC 1 5.63% $16,277
FREEDOM MORTGAGE CORPORATION 1 4.25% $11,369
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 3.25% $11,715
GUILD MORTGAGE COMPANY 1 5.50% $11,627
HOMESIDE FINANCIAL, LLC 1 3.63% $5,165
Hometown Lenders, Inc. 1 4.13% $6,955
Ixonia Bank 1 6.13% $14,502
LAND HOME FINANCIAL SERVICES, INC. 1 5.75% $12,335
MICHIGAN MUTUAL, INC. 1 4.50% $9,622
MID AMERICA MORTGAGE, INC. 1 6.38% $11,376
Mortgage Lenders Investment Trading Corporation 1 3.75% $6,048
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.75% $13,484
NEW DAY FINANCIAL, LLC 1 5.75% $4,898
NEWREZ LLC 1 3.75% $6,751
NFM, INC. 1 4.13% $8,992
NORWICH COMMERCIAL GROUP, INC. 1 5.75% $8,907
OCEANSIDE MORTGAGE COMPANY 1 4.38% $4,666
OCMBC, INC. 1 4.63% $21,548
PHH Mortgage Corporation 1 3.88% $8,904
Plains Commerce Bank 1 5.25% $10,262
PLAZA HOME MORTGAGE, INC. 1 4.75% $7,822
Prosperity Home Mortgage, LLC 1 5.13% $7,452
Sierra Pacific Mortgage Company, Inc. 1 5.25% $10,675
South State Bank 1 6.63% $8,772
T2 FINANCIAL LLC 1 6.63% $19,615

The top The Villages FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 29 FHA loans originated. Their average total fees are $10,088, which is $1,857 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee The Villages FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($10,088), UNITED WHOLESALE MORTGAGE, LLC ($11,454), QUICKEN LOANS, LLC ($11,945), .

The lowest rate The Villages FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.42%), DHI MORTGAGE COMPANY, LTD. (4.56%), UNITED WHOLESALE MORTGAGE, LLC (5.28%), .

The Villages FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
THE VILLAGES, FL SUMTER 2022 $420,680 $538,650 $651,050 $809,150
THE VILLAGES, FL SUMTER 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - The Villages (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 $262,049 (5.2%) $342,427 (8.7%) 0.97 341
2018-02-01 $259,900 (4.0%) $349,828 (12.3%) 0.94 351
2018-03-01 $274,950 (10.2%) $367,858 (18.5%) 0.96 346
2018-04-01 $269,724 (7.9%) $381,518 (21.2%) 0.91 335
2018-05-01 $276,375 (10.6%) $381,578 (17.8%) 0.92 375
2018-06-01 $274,900 (10.3%) $380,131 (18.9%) 0.92 352
2018-07-01 $267,000 (6.8%) $373,582 (14.1%) 0.89 344
2018-08-01 $269,000 (2.1%) $391,037 (17.6%) 0.90 342
2018-09-01 $259,800 (-2.3%) $366,910 (8.8%) 0.87 349
2018-10-01 $258,350 (-4.5%) $373,714 (8.9%) 0.88 354
2018-11-01 $263,000 (-2.6%) $366,705 (5.9%) 0.89 371
2018-12-01 $274,500 (5.6%) $375,728 (12.5%) 0.95 404
2019-01-01 $267,624 (2.1%) $359,391 (5.0%) 0.92 406
2019-02-01 $260,574 (0.3%) $351,510 (0.5%) 0.88 405
2019-03-01 $260,708 (-5.2%) $349,358 (-5.0%) 0.85 395
2019-04-01 $260,080 (-3.6%) $347,421 (-8.9%) 0.83 398
2019-05-01 $269,575 (-2.5%) $346,906 (-9.1%) 0.84 375
2019-06-01 $270,000 (-1.8%) $350,355 (-7.8%) 0.84 352
2019-07-01 $272,450 (2.0%) $322,387 (-13.7%) 0.85 322
2019-08-01 $277,609 (3.2%) $322,227 (-17.6%) 0.88 321
2019-09-01 $284,523 (9.5%) $328,185 (-10.6%) 0.91 306
2019-10-01 $289,132 (11.9%) $332,987 (-10.9%) 0.93 298
2019-11-01 $289,900 (10.2%) $348,575 (-4.9%) 0.95 307
2019-12-01 $289,900 (5.6%) $336,898 (-10.3%) 0.97 307
2020-01-01 $293,125 (9.5%) $344,111 (-4.3%) 0.98 344
2020-02-01 $299,700 (15.0%) $348,589 (-0.8%) 0.98 369
2020-03-01 $299,950 (15.1%) $351,248 (0.5%) 0.94 384
2020-04-01 $297,000 (14.2%) $351,218 (1.1%) 0.93 428
2020-05-01 $295,000 (9.4%) $345,938 (-0.3%) 0.90 434
2020-06-01 $296,950 (10.0%) $347,885 (-0.7%) 0.87 440
2020-07-01 $289,800 (6.4%) $345,464 (7.2%) 0.84 459
2020-08-01 $299,900 (8.0%) $361,265 (12.1%) 0.86 456
2020-09-01 $304,175 (6.9%) $366,516 (11.7%) 0.87 448
2020-10-01 $299,124 (3.5%) $364,276 (9.4%) 0.86 473
2020-11-01 $294,900 (1.7%) $358,737 (2.9%) 0.86 464
2020-12-01 $289,410 (-0.2%) $348,952 (3.6%) 0.86 437
2021-01-01 $298,900 (2.0%) $352,201 (2.4%) 0.89 382
2021-02-01 $299,900 (0.1%) $356,323 (2.2%) 0.87 301
2021-03-01 $307,950 (2.7%) $373,571 (6.4%) 0.87 254
2021-04-01 $314,675 (6.0%) $376,834 (7.3%) 0.85 205
2021-05-01 $335,000 (13.6%) $410,343 (18.6%) 0.89 161
2021-06-01 $339,450 (14.3%) $460,848 (32.5%) 0.89 126
2021-07-01 $360,000 (24.2%) $449,490 (30.1%) 0.95 142
2021-08-01 $362,475 (20.9%) $469,082 (29.8%) 0.97 155
2021-09-01 $361,225 (18.8%) $488,773 (33.4%) 0.96 165
2021-10-01 $359,900 (20.3%) $478,679 (31.4%) 0.96 177
2021-11-01 $364,413 (23.6%) $501,242 (39.7%) 0.97 152
2021-12-01 $383,725 (32.6%) $504,945 (44.7%) 1.04 154
2022-01-01 $395,000 (32.2%) $501,757 (42.5%) 1.07 140
2022-02-01 $410,000 (36.7%) $505,831 (42.0%) 1.07 141
2022-03-01 $429,975 (39.6%) $541,056 (44.8%) 1.08 165
2022-04-01 $429,900 (36.6%) $547,594 (45.3%) 1.02 174
2022-05-01 $419,950 (25.4%) $532,557 (29.8%) 0.96 209
2022-06-01 $424,925 (25.2%) $509,924 (10.7%) 0.95 271
2022-07-01 $424,900 (18.0%) $507,957 (13.0%) 0.96 318
2022-08-01 $416,950 (15.0%) $503,175 (7.3%) 0.96 320
2022-09-01 $418,450 (15.8%) $505,880 (3.5%) 0.98 337
2022-10-01 $405,000 (12.5%) $489,149 (2.2%) 0.95 378
2022-11-01 $404,900 (11.1%) $487,788 (-2.7%) 0.97 396
2022-12-01 $407,500 (6.2%) $488,245 (-3.3%) 1.01 410
2023-01-01 $421,000 (6.6%) $491,300 (-2.1%) 1.04 386
2023-02-01 $419,925 (2.4%) $485,074 (-4.1%) 1.01 399
2023-03-01 $419,950 (-2.3%) $486,777 (-10.0%) 0.99 400
2023-04-01 $399,900 (-7.0%) $467,845 (-14.6%) 0.93 416
2023-05-01 $399,500 (-4.9%) $468,613 (-12.0%) 0.91 414
2023-06-01 $397,450 (-6.5%) $470,322 (-7.8%) 0.89 427
2023-07-01 $399,900 (-5.9%) $470,880 (-7.3%) 0.91 403
2023-08-01 $401,192 (-3.8%) $484,568 (-3.7%) 0.92 384
2023-09-01 $398,950 (-4.7%) $487,086 (-3.7%) 0.93 367
2023-10-01 $399,900 (-1.3%) $491,546 (0.5%) 0.94 393
2023-11-01 $396,163 (-2.2%) $478,541 (-1.9%) 0.94 429
The Villages's median listing price for 2023-11-01 was $396,163, a difference of $-8,737 (-2.2%) versus the prior year and $-3,737 versus the prior month.

The Villages's median listing price comes in at 94% of the national average.

The Villages's average listing price for 2023-11-01 was $478,541, a difference of $-9,247 (-1.9%) versus the prior year and $-13,005 versus the prior month.

For the 2023-11-01 period, The Villages had 429 MLS listings, a difference of 36 listings (9%) versus the prior month and 33 listings (8%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - The Villages (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 70 days 1,709 sqft
2018-02-01 63 days 1,755 sqft
2018-03-01 52 days 1,857 sqft
2018-04-01 56 days 1,826 sqft
2018-05-01 52 days 1,846 sqft
2018-06-01 58 days 1,806 sqft
2018-07-01 67 days 1,775 sqft
2018-08-01 66 days 1,768 sqft
2018-09-01 60 days 1,672 sqft
2018-10-01 59 days 1,672 sqft
2018-11-01 67 days 1,726 sqft
2018-12-01 65 days 1,795 sqft
2019-01-01 68 days 1,795 sqft
2019-02-01 66 days 1,740 sqft
2019-03-01 59 days 1,764 sqft
2019-04-01 62 days 1,687 sqft
2019-05-01 67 days 1,648 sqft
2019-06-01 65 days 1,648 sqft
2019-07-01 57 days 1,624 sqft
2019-08-01 58 days 1,645 sqft
2019-09-01 61 days 1,677 sqft
2019-10-01 64 days 1,698 sqft
2019-11-01 53 days 1,657 sqft
2019-12-01 57 days 1,652 sqft
2020-01-01 55 days 1,673 sqft
2020-02-01 49 days 1,656 sqft
2020-03-01 47 days 1,728 sqft
2020-04-01 53 days 1,725 sqft
2020-05-01 60 days 1,685 sqft
2020-06-01 67 days 1,673 sqft
2020-07-01 57 days 1,673 sqft
2020-08-01 53 days 1,736 sqft
2020-09-01 52 days 1,757 sqft
2020-10-01 53 days 1,715 sqft
2020-11-01 48 days 1,673 sqft
2020-12-01 53 days 1,661 sqft
2021-01-01 63 days 1,673 sqft
2021-02-01 51 days 1,673 sqft
2021-03-01 44 days 1,649 sqft
2021-04-01 42 days 1,641 sqft
2021-05-01 36 days 1,673 sqft
2021-06-01 36 days 1,718 sqft
2021-07-01 41 days 1,760 sqft
2021-08-01 40 days 1,738 sqft
2021-09-01 41 days 1,742 sqft
2021-10-01 39 days 1,742 sqft
2021-11-01 40 days 1,751 sqft
2021-12-01 57 days 1,746 sqft
2022-01-01 50 days 1,736 sqft
2022-02-01 35 days 1,780 sqft
2022-03-01 33 days 1,748 sqft
2022-04-01 33 days 1,692 sqft
2022-05-01 30 days 1,690 sqft
2022-06-01 30 days 1,670 sqft
2022-07-01 37 days 1,628 sqft
2022-08-01 41 days 1,613 sqft
2022-09-01 49 days 1,655 sqft
2022-10-01 52 days 1,621 sqft
2022-11-01 56 days 1,667 sqft
2022-12-01 60 days 1,634 sqft
2023-01-01 66 days 1,640 sqft
2023-02-01 65 days 1,607 sqft
2023-03-01 46 days 1,645 sqft
2023-04-01 45 days 1,624 sqft
2023-05-01 43 days 1,606 sqft
2023-06-01 44 days 1,618 sqft
2023-07-01 54 days 1,642 sqft
2023-08-01 62 days 1,644 sqft
2023-09-01 61 days 1,641 sqft
2023-10-01 56 days 1,610 sqft
2023-11-01 49 days 1,559 sqft
The Villages's median listing age (time on market) for 2023-11-01 was 49 days. This is -13% shorter than the same period one year ago.

The Villages's median square footage for active listings during the 2023-11-01 period was 1,559 sqft. One year prior, the average listing was 1,667 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).