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 0.04% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

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

    The average rate for the prior week (2025-06-27) was 6.62% and one month ago for the week of 2025-05-30, the average rate was 6.89%.

    The average rate one year ago was 7.02%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.16%.

    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

    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).