Topeka FHA Loan Rates, Closing Costs & Stats
TOPEKA, 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.
Topeka's 72 lenders originated 445 FHA loans during 2023. The total origination value was $78,145,000, with an average FHA loan value of $175,607.
Topeka FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Topeka
averaged
-0.06%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Topeka's average FHA mortgage closing costs are $5,239.
The average rate for the prior week (2024-11-22) was
6.63% and
one month ago for the week of 2024-10-25, the
average rate was 6.41%.
The average rate one year ago was 7.3%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.07%.
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.
The top Topeka FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
62 FHA loans originated. Their average total fees are
$7,768, which is $1,279
higher than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee Topeka FHA lenders (with over 10 loans originated) are
NBH Bank ($5,317), Flagstar Bank, FSB ($6,013), Landmark National Bank ($6,038), FLAT BRANCH MORTGAGE, INC. ($6,443) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,489).
The lowest rate Topeka FHA lenders (with over 10 loans originated) are
NBH Bank (6.34%), QUICKEN LOANS, LLC (6.50%), LOANDEPOT.COM, LLC (6.53%), UNITED WHOLESALE MORTGAGE, LLC (6.66%) and Flagstar Bank, FSB (6.69%).
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $106,225 (-1.2%) | $152,272 (1.7%) | 0.39 | 568 |
2018-02-01 | $110,475 (0.5%) | $157,554 (2.2%) | 0.40 | 570 |
2018-03-01 | $114,900 (-2.1%) | $159,512 (-2.1%) | 0.40 | 555 |
2018-04-01 | $116,450 (-5.1%) | $170,246 (-2.0%) | 0.39 | 546 |
2018-05-01 | $119,925 (1.2%) | $176,938 (3.7%) | 0.40 | 565 |
2018-06-01 | $125,000 (-2.5%) | $184,672 (7.2%) | 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 | $120,950 (10.1%) | $171,684 (7.1%) | 0.41 | 662 |
2018-10-01 | $119,999 (4.5%) | $168,513 (4.5%) | 0.41 | 644 |
2018-11-01 | $117,500 (8.7%) | $162,560 (4.3%) | 0.40 | 623 |
2018-12-01 | $119,900 (11.0%) | $165,189 (7.7%) | 0.41 | 568 |
2019-01-01 | $118,450 (11.5%) | $167,193 (9.8%) | 0.41 | 553 |
2019-02-01 | $119,947 (8.6%) | $176,277 (11.9%) | 0.41 | 511 |
2019-03-01 | $126,297 (9.9%) | $183,301 (14.9%) | 0.41 | 502 |
2019-04-01 | $139,800 (20.1%) | $189,259 (11.2%) | 0.44 | 492 |
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%) | $188,018 (3.5%) | 0.47 | 507 |
2019-09-01 | $148,264 (22.6%) | $189,204 (10.2%) | 0.47 | 500 |
2019-10-01 | $146,225 (21.9%) | $188,536 (11.9%) | 0.47 | 505 |
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 | $128,475 (8.5%) | $166,431 (-0.5%) | 0.43 | 418 |
2020-02-01 | $137,000 (14.2%) | $174,542 (-1.0%) | 0.45 | 381 |
2020-03-01 | $147,800 (17.0%) | $185,416 (1.2%) | 0.46 | 379 |
2020-04-01 | $152,475 (9.1%) | $193,064 (2.0%) | 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 (5.6%) | 0.40 | 273 |
2020-09-01 | $138,725 (-6.4%) | $196,702 (4.0%) | 0.40 | 273 |
2020-10-01 | $134,950 (-7.7%) | $199,862 (6.0%) | 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 (13.8%) | $199,663 (20.0%) | 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 | $250,125 (39.0%) | $372,045 (48.0%) | 0.59 | 183 |
2023-04-01 | $238,700 (30.8%) | $347,250 (36.0%) | 0.56 | 203 |
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 (-0.1%) | $320,183 (-13.9%) | 0.59 | 213 |
2024-04-01 | $255,000 (6.8%) | $316,568 (-8.8%) | 0.59 | 242 |
2024-05-01 | $279,000 (4.3%) | $803,612 (123.8%) | 0.63 | 253 |
2024-06-01 | $264,900 (-9.3%) | $316,119 (-14.4%) | 0.60 | 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 |
Topeka's median listing price comes in at 59% of the national average.
Topeka's average listing price for 2024-10-01 was $292,936, a difference of $-13,249 (-4.3%) versus the prior year and $-13,537 versus the prior month.
For the 2024-10-01 period, Topeka had 352 MLS listings, a difference of 33 listings (10%) versus the prior month and -10 listings (-3%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Topeka (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 70 days | 1,591 sqft |
2018-02-01 | 58 days | 1,616 sqft |
2018-03-01 | 44 days | 1,632 sqft |
2018-04-01 | 40 days | 1,667 sqft |
2018-05-01 | 37 days | 1,671 sqft |
2018-06-01 | 35 days | 1,700 sqft |
2018-07-01 | 37 days | 1,735 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 | 61 days | 1,585 sqft |
2019-01-01 | 64 days | 1,585 sqft |
2019-02-01 | 63 days | 1,608 sqft |
2019-03-01 | 52 days | 1,655 sqft |
2019-04-01 | 35 days | 1,694 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 | 1,756 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 | 1,629 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 | 1,576 sqft |
2021-01-01 | 37 days | 1,632 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 | 1,674 sqft |
2021-09-01 | 22 days | 1,686 sqft |
2021-10-01 | 27 days | 1,676 sqft |
2021-11-01 | 32 days | 1,676 sqft |
2021-12-01 | 38 days | 1,645 sqft |
2022-01-01 | 31 days | 1,625 sqft |
2022-02-01 | 22 days | 1,681 sqft |
2022-03-01 | 12 days | 1,733 sqft |
2022-04-01 | 24 days | 1,693 sqft |
2022-05-01 | 26 days | 1,753 sqft |
2022-06-01 | 20 days | 1,775 sqft |
2022-07-01 | 27 days | 1,768 sqft |
2022-08-01 | 31 days | 1,836 sqft |
2022-09-01 | 28 days | 1,846 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 | 1,723 sqft |
2023-02-01 | 61 days | 1,698 sqft |
2023-03-01 | 47 days | 1,774 sqft |
2023-04-01 | 33 days | 1,680 sqft |
2023-05-01 | 29 days | 2,008 sqft |
2023-06-01 | 25 days | 2,137 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 | 1,782 sqft |
2023-11-01 | 39 days | 1,752 sqft |
2023-12-01 | 47 days | 1,772 sqft |
2024-01-01 | 57 days | 1,768 sqft |
2024-02-01 | 50 days | 1,810 sqft |
2024-03-01 | 38 days | 1,835 sqft |
2024-04-01 | 32 days | 1,828 sqft |
2024-05-01 | 30 days | 1,908 sqft |
2024-06-01 | 26 days | 1,885 sqft |
2024-07-01 | 36 days | 1,820 sqft |
2024-08-01 | 37 days | 1,892 sqft |
2024-09-01 | 38 days | 1,877 sqft |
2024-10-01 | 37 days | 1,837 sqft |
Topeka's median square footage for active listings during the 2024-10-01 period was 1,837 sqft. One year prior, the average listing was 1,782 sqft.