Topeka FHA Loan Rates, Closing Costs & Stats

TOPEKA, 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.

    Topeka's 79 lenders originated 544 FHA loans during 2024. The total origination value was $106,750,000, with an average FHA loan value of $196,232.

    Topeka FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Topeka averaged 6.69% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Topeka's average FHA mortgage closing costs are $5,571.

    The average rate for the prior week (2025-03-28) was 6.59% and one month ago for the week of 2025-02-28, the average rate was 6.38%.

    The average rate one year ago was 6.8%.

    For refis of the same type during the week of 2025-04-04, the average rate was 5.9%.

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

    Topeka 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 Topeka level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 93 6.74% $6,511
    QUICKEN LOANS, LLC 65 6.34% $9,230
    FLAT BRANCH MORTGAGE, INC. 50 6.78% $6,603
    NBH Bank 28 6.46% $5,609
    LEADERONE FINANCIAL CORPORATION 24 6.75% $10,236
    UNITED WHOLESALE MORTGAGE, LLC 24 6.36% $9,189
    Flagstar Bank, FSB 14 6.57% $5,937
    PENNYMAC LOAN SERVICES, LLC 13 5.97% $5,729
    FREEDOM MORTGAGE CORPORATION 13 6.50% $10,174
    GUILD MORTGAGE COMPANY 9 7.13% $7,049
    UNION HOME MORTGAGE CORP. 9 6.60% $9,467
    NEWREZ LLC 7 6.11% $8,777
    Equity Prime Mortgage LLC 7 7.30% $10,085
    Mr. Cooper ( Nationstar Mortgage ) 7 6.45% $10,655
    LOANDEPOT.COM, LLC 6 6.60% $11,619
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.65% $10,164
    AMERISAVE MORTGAGE CORPORATION 5 6.30% $13,187
    U.S. Bank 5 6.83% $6,373
    Sunflower Bank 5 6.22% $6,919
    CROSSCOUNTRY MORTGAGE, LLC 4 6.25% $11,173
    Members Mortgage Services, L.L.C. 4 6.69% $5,905
    Carrington Mortgage Services, LLC 4 6.72% $9,330
    Mortgage Investment Services Corporation 4 6.47% $3,661
    BOKF 3 6.58% $8,507
    HOMESIDE FINANCIAL, LLC 3 7.21% $10,559
    ZILLOW HOME LOANS, LLC 3 6.42% $8,082
    LAKEVIEW LOAN SERVICING, LLC 3 6.88% $10,155
    American Mortgage Bank, LLC 3 6.79% $9,092
    PLAZA HOME MORTGAGE, INC. 2 6.00% $10,201
    AMERICAN FINANCING CORPORATION 2 5.56% $9,939
    Arvest Bank 2 6.69% $5,977
    Bell Bank 2 6.75% $7,805
    BROKER SOLUTIONS, INC. 2 7.75% $7,974
    Central National Bank 2 6.25% $4,606
    COMMUNITYAMERICA 2 6.38% $6,720
    Landmark National Bank 2 6.44% $8,332
    Mortgage Research Center, LLC 2 6.50% $4,780
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.94% $10,453
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.75% $14,808
    PLANET HOME LENDING, LLC 2 6.63% $8,355
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $6,390
    Flanagan State Bank 1 6.75% $17,905
    First State Bank of St. Charles, Missouri 1 6.88% $5,439
    LOANPAL, LLC 1 6.25% $8,900
    MEGASTAR FINANCIAL CORP. 1 8.13% $13,013
    EVERETT FINANCIAL, INC. 1 6.50% $2,824
    MID AMERICA MORTGAGE, INC. 1 6.63% $2,368
    Midwest Mortgage Associates Corporation 1 6.99% $2,449
    Equity Bank 1 5.49% $6,292
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.75% $8,431
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.25% $5,240
    ENDEAVOR CAPITAL, LLC. 1 5.75% $7,731
    VILLAGE CAPITAL MORTGAGE 1 6.75% $2,273
    Nations Lending Corporation 1 6.75% $10,020
    DELMAR FINANCIAL COMPANY 1 5.63% $4,943
    NBKC BANK 1 6.13% $7,201
    COMMUNICATION 1 6.88% $5,528
    CHURCHILL MORTGAGE CORPORATION 1 6.99% $6,302
    Plains Commerce Bank 1 6.63% $6,039
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.13% $10,429
    AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $13,449
    CANOPY MORTGAGE, LLC 1 6.63% $10,751
    Prosperity Home Mortgage, LLC 1 5.75% $14,443
    BETTER MORTGAGE CORPORATION 1 6.00% $7,741
    ROYAL UNITED MORTGAGE LLC 1 7.63% $6,989
    RUOFF MORTGAGE COMPANY, INC. 1 5.50% $10,628
    Sierra Pacific Mortgage Company, Inc. 1 5.75% $8,407
    STAUNTON FINANCIAL, INC. 1 6.75% $6,354
    BAY EQUITY LLC 1 7.25% $5,481
    TJC Mortgage, Inc. 1 6.75% $10,008
    TOP FLITE FINANCIAL, INC. 1 7.13% $10,177
    TOWNE MORTGAGE COMPANY 1 6.25% $5,333
    UMB Bank 1 6.62% $6,024
    AXIA FINANCIAL, LLC 1 6.75% $14,417
    GUARANTEED RATE, INC. 1 6.25% $5,809
    GSF Mortgage Corporation 1 8.13% $12,524
    JLB CORPORATION 1 6.63% $9,612
    Lakeview Community Capital, LLC 1 6.75% $4,626
    GENEVA FINANCIAL, LLC 1 6.63% $6,690

    The top Topeka FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 93 FHA loans originated. Their average total fees are $6,511, which is $2,719 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Topeka FHA lenders (with over 10 loans originated) are NBH Bank ($5,609), PENNYMAC LOAN SERVICES, LLC ($5,729), Flagstar Bank, FSB ($5,937), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,511) and FLAT BRANCH MORTGAGE, INC. ($6,603).

    The lowest rate Topeka FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.97%), QUICKEN LOANS, LLC (6.34%), UNITED WHOLESALE MORTGAGE, LLC (6.36%), NBH Bank (6.46%) and FREEDOM MORTGAGE CORPORATION (6.50%).

    Topeka FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    TOPEKA, KS JACKSON 2022 $420,680 $538,650 $651,050 $809,150
    TOPEKA, KS JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
    TOPEKA, KS OSAGE 2022 $420,680 $538,650 $651,050 $809,150
    TOPEKA, KS SHAWNEE 2022 $420,680 $538,650 $651,050 $809,150
    TOPEKA, KS WABAUNSEE 2022 $420,680 $538,650 $651,050 $809,150
    TOPEKA, KS JACKSON 2023 $472,030 $604,400 $730,525 $907,900
    TOPEKA, KS JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
    TOPEKA, KS OSAGE 2023 $472,030 $604,400 $730,525 $907,900
    TOPEKA, KS SHAWNEE 2023 $472,030 $604,400 $730,525 $907,900
    TOPEKA, KS WABAUNSEE 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Topeka (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 $106,200 (-1.2%) $151,836 (1.5%) 0.39 566
    2018-02-01 $110,000 (0.1%) $157,130 (2.1%) 0.40 568
    2018-03-01 $114,900 (-1.9%) $159,102 (-2.3%) 0.40 555
    2018-04-01 $116,450 (-4.9%) $170,246 (-1.9%) 0.39 546
    2018-05-01 $119,938 (1.3%) $176,975 (3.8%) 0.40 565
    2018-06-01 $125,000 (-2.5%) $184,672 (7.3%) 0.42 619
    2018-07-01 $130,500 (8.8%) $183,644 (9.0%) 0.44 654
    2018-08-01 $127,450 (8.5%) $181,595 (9.6%) 0.43 644
    2018-09-01 $120,000 (9.2%) $171,694 (7.1%) 0.40 662
    2018-10-01 $119,999 (4.5%) $168,513 (4.6%) 0.41 644
    2018-11-01 $117,500 (9.1%) $162,557 (4.5%) 0.40 622
    2018-12-01 $119,900 (11.5%) $165,190 (7.9%) 0.41 567
    2019-01-01 $118,450 (11.5%) $167,198 (10.1%) 0.41 552
    2019-02-01 $119,720 (8.8%) $176,298 (12.2%) 0.40 510
    2019-03-01 $126,209 (9.8%) $183,340 (15.2%) 0.41 501
    2019-04-01 $139,200 (19.5%) $188,926 (11.0%) 0.44 491
    2019-05-01 $152,450 (27.1%) $191,640 (8.3%) 0.48 491
    2019-06-01 $149,000 (19.2%) $182,288 (-1.3%) 0.47 522
    2019-07-01 $149,900 (14.9%) $183,775 (0.1%) 0.47 512
    2019-08-01 $149,245 (17.1%) $187,870 (3.5%) 0.47 506
    2019-09-01 $148,263 (23.6%) $188,834 (10.0%) 0.47 500
    2019-10-01 $146,212 (21.8%) $188,022 (11.6%) 0.47 504
    2019-11-01 $134,900 (14.8%) $181,857 (11.9%) 0.44 526
    2019-12-01 $125,000 (4.3%) $169,395 (2.6%) 0.42 485
    2020-01-01 $127,975 (8.0%) $166,088 (-0.7%) 0.43 418
    2020-02-01 $137,000 (14.4%) $174,542 (-1.0%) 0.45 381
    2020-03-01 $147,800 (17.1%) $185,416 (1.1%) 0.46 379
    2020-04-01 $152,475 (9.5%) $193,064 (2.2%) 0.48 367
    2020-05-01 $165,000 (8.2%) $206,687 (7.9%) 0.50 305
    2020-06-01 $152,450 (2.3%) $200,250 (9.9%) 0.45 292
    2020-07-01 $131,975 (-12.0%) $194,724 (6.0%) 0.38 282
    2020-08-01 $140,000 (-6.2%) $198,626 (5.7%) 0.40 273
    2020-09-01 $138,725 (-6.4%) $196,702 (4.2%) 0.40 273
    2020-10-01 $134,950 (-7.7%) $199,862 (6.3%) 0.39 253
    2020-11-01 $142,450 (5.6%) $196,981 (8.3%) 0.42 257
    2020-12-01 $142,450 (14.0%) $191,045 (12.8%) 0.42 233
    2021-01-01 $146,200 (14.2%) $199,663 (20.2%) 0.44 191
    2021-02-01 $147,500 (7.7%) $205,495 (17.7%) 0.43 152
    2021-03-01 $154,850 (4.8%) $204,214 (10.1%) 0.44 159
    2021-04-01 $157,725 (3.4%) $226,037 (17.1%) 0.43 158
    2021-05-01 $160,000 (-3.0%) $224,490 (8.6%) 0.43 177
    2021-06-01 $152,500 (0.0%) $219,628 (9.7%) 0.40 216
    2021-07-01 $172,273 (30.5%) $231,245 (18.8%) 0.45 255
    2021-08-01 $164,500 (17.5%) $221,169 (11.4%) 0.44 247
    2021-09-01 $171,250 (23.5%) $227,269 (15.5%) 0.46 253
    2021-10-01 $168,750 (25.1%) $215,427 (7.8%) 0.45 253
    2021-11-01 $165,532 (16.2%) $206,148 (4.7%) 0.44 226
    2021-12-01 $160,894 (13.0%) $218,073 (14.2%) 0.44 185
    2022-01-01 $154,950 (6.0%) $230,781 (15.6%) 0.42 124
    2022-02-01 $179,250 (21.5%) $249,527 (21.4%) 0.47 117
    2022-03-01 $179,950 (16.2%) $251,413 (23.1%) 0.45 128
    2022-04-01 $182,450 (15.7%) $255,260 (12.9%) 0.43 151
    2022-05-01 $213,200 (33.3%) $273,493 (21.8%) 0.49 174
    2022-06-01 $219,975 (44.3%) $273,298 (24.4%) 0.49 202
    2022-07-01 $210,000 (21.9%) $268,019 (15.9%) 0.47 220
    2022-08-01 $229,750 (39.7%) $341,969 (54.6%) 0.53 210
    2022-09-01 $229,900 (34.3%) $317,040 (39.5%) 0.54 225
    2022-10-01 $229,000 (35.7%) $306,636 (42.3%) 0.54 273
    2022-11-01 $232,450 (40.4%) $369,855 (79.4%) 0.56 326
    2022-12-01 $227,450 (41.4%) $382,683 (75.5%) 0.56 283
    2023-01-01 $241,738 (56.0%) $404,744 (75.4%) 0.60 232
    2023-02-01 $244,500 (36.4%) $373,530 (49.7%) 0.59 215
    2023-03-01 $249,375 (38.6%) $372,212 (48.1%) 0.59 182
    2023-04-01 $238,700 (30.8%) $347,461 (36.1%) 0.56 202
    2023-05-01 $267,463 (25.5%) $359,135 (31.3%) 0.61 204
    2023-06-01 $292,000 (32.7%) $369,275 (35.1%) 0.66 225
    2023-07-01 $279,900 (33.3%) $363,350 (35.6%) 0.64 258
    2023-08-01 $268,000 (16.7%) $334,163 (-2.3%) 0.62 269
    2023-09-01 $249,950 (8.7%) $327,696 (3.4%) 0.58 309
    2023-10-01 $233,075 (1.8%) $306,185 (-0.2%) 0.55 362
    2023-11-01 $229,800 (-1.1%) $290,203 (-21.5%) 0.55 354
    2023-12-01 $226,950 (-0.2%) $295,014 (-22.9%) 0.55 304
    2024-01-01 $234,925 (-2.8%) $298,522 (-26.2%) 0.57 235
    2024-02-01 $236,175 (-3.4%) $298,598 (-20.1%) 0.57 236
    2024-03-01 $249,900 (0.2%) $320,183 (-14.0%) 0.59 213
    2024-04-01 $255,000 (6.8%) $316,568 (-8.9%) 0.59 242
    2024-05-01 $267,000 (-0.2%) $749,948 (108.8%) 0.61 253
    2024-06-01 $255,500 (-12.5%) $309,836 (-16.1%) 0.58 274
    2024-07-01 $249,900 (-10.7%) $304,563 (-16.2%) 0.57 283
    2024-08-01 $249,900 (-6.8%) $307,415 (-8.0%) 0.58 317
    2024-09-01 $245,550 (-1.8%) $306,473 (-6.5%) 0.58 319
    2024-10-01 $249,125 (6.9%) $292,936 (-4.3%) 0.59 352
    2024-11-01 $239,000 (4.0%) $275,803 (-5.0%) 0.57 390
    2024-12-01 $219,950 (-3.1%) $263,164 (-10.8%) 0.55 331
    2025-01-01 $219,900 (-6.4%) $264,344 (-11.5%) 0.55 284
    2025-02-01 $230,000 (-2.6%) $276,774 (-7.3%) 0.56 224
    2025-03-01 $249,900 (0.0%) $299,311 (-6.5%) 0.00 254
    Topeka's median listing price for 2025-03-01 was $249,900, a difference of $0 (0.0%) versus the prior year and $19,900 versus the prior month.

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

    Topeka's average listing price for 2025-03-01 was $299,311, a difference of $-20,872 (-6.5%) versus the prior year and $22,537 versus the prior month.

    For the 2025-03-01 period, Topeka had 254 MLS listings, a difference of 30 listings (13%) versus the prior month and 41 listings (19%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Topeka (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 69 days 1,589 sqft
    2018-02-01 58 days 1,612 sqft
    2018-03-01 44 days 1,628 sqft
    2018-04-01 40 days 1,667 sqft
    2018-05-01 37 days 1,670 sqft
    2018-06-01 35 days 1,700 sqft
    2018-07-01 37 days 1,734 sqft
    2018-08-01 42 days 1,671 sqft
    2018-09-01 44 days 1,600 sqft
    2018-10-01 45 days 1,600 sqft
    2018-11-01 55 days 1,585 sqft
    2018-12-01 60 days 1,586 sqft
    2019-01-01 63 days 1,587 sqft
    2019-02-01 62 days 1,610 sqft
    2019-03-01 51 days 1,658 sqft
    2019-04-01 35 days 1,701 sqft
    2019-05-01 37 days 1,765 sqft
    2019-06-01 36 days 1,786 sqft
    2019-07-01 38 days 1,772 sqft
    2019-08-01 42 days 1,768 sqft
    2019-09-01 40 days 1,769 sqft
    2019-10-01 40 days 1,755 sqft
    2019-11-01 45 days 1,700 sqft
    2019-12-01 53 days 1,665 sqft
    2020-01-01 59 days 1,643 sqft
    2020-02-01 52 days 1,660 sqft
    2020-03-01 36 days 1,679 sqft
    2020-04-01 39 days 1,788 sqft
    2020-05-01 32 days 1,799 sqft
    2020-06-01 24 days 1,729 sqft
    2020-07-01 24 days 1,627 sqft
    2020-08-01 29 days 1,631 sqft
    2020-09-01 25 days 1,591 sqft
    2020-10-01 28 days 1,637 sqft
    2020-11-01 28 days 1,634 sqft
    2020-12-01 30 days 1,568 sqft
    2021-01-01 37 days 1,620 sqft
    2021-02-01 29 days 1,639 sqft
    2021-03-01 16 days 1,600 sqft
    2021-04-01 13 days 1,560 sqft
    2021-05-01 12 days 1,643 sqft
    2021-06-01 14 days 1,658 sqft
    2021-07-01 18 days 1,719 sqft
    2021-08-01 22 days 1,676 sqft
    2021-09-01 22 days 1,692 sqft
    2021-10-01 27 days 1,681 sqft
    2021-11-01 32 days 1,678 sqft
    2021-12-01 38 days 1,647 sqft
    2022-01-01 31 days 1,634 sqft
    2022-02-01 22 days 1,682 sqft
    2022-03-01 12 days 1,749 sqft
    2022-04-01 24 days 1,716 sqft
    2022-05-01 26 days 1,757 sqft
    2022-06-01 20 days 1,777 sqft
    2022-07-01 27 days 1,768 sqft
    2022-08-01 31 days 1,836 sqft
    2022-09-01 28 days 1,845 sqft
    2022-10-01 32 days 1,820 sqft
    2022-11-01 36 days 1,751 sqft
    2022-12-01 43 days 1,716 sqft
    2023-01-01 59 days 1,729 sqft
    2023-02-01 61 days 1,706 sqft
    2023-03-01 47 days 1,783 sqft
    2023-04-01 33 days 1,697 sqft
    2023-05-01 29 days 2,010 sqft
    2023-06-01 25 days 2,147 sqft
    2023-07-01 28 days 2,107 sqft
    2023-08-01 31 days 1,897 sqft
    2023-09-01 30 days 1,902 sqft
    2023-10-01 36 days 1,779 sqft
    2023-11-01 39 days 1,752 sqft
    2023-12-01 47 days 1,775 sqft
    2024-01-01 57 days 1,782 sqft
    2024-02-01 50 days 1,815 sqft
    2024-03-01 38 days 1,836 sqft
    2024-04-01 32 days 1,828 sqft
    2024-05-01 34 days 1,902 sqft
    2024-06-01 32 days 1,882 sqft
    2024-07-01 36 days 1,822 sqft
    2024-08-01 37 days 1,894 sqft
    2024-09-01 38 days 1,881 sqft
    2024-10-01 37 days 1,841 sqft
    2024-11-01 40 days 1,729 sqft
    2024-12-01 45 days 1,734 sqft
    2025-01-01 58 days 1,676 sqft
    2025-02-01 61 days 1,707 sqft
    2025-03-01 0 days 1,774 sqft
    Topeka's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Topeka's median square footage for active listings during the 2025-03-01 period was 1,774 sqft. One year prior, the average listing was 1,836 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).