Wapakoneta FHA Loan Rates, Closing Costs & Stats

Wapakoneta, OH

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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.

    Wapakoneta's 31 lenders originated 97 FHA loans during 2023. The total origination value was $16,155,000, with an average FHA loan value of $166,546.

    Wapakoneta FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Wapakoneta averaged 6.71% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Wapakoneta's average FHA mortgage closing costs are $6,373.

    The average rate for the prior week (2024-04-12) was 6.9% and one month ago for the week of 2024-03-15, the average rate was 6.67%.

    The average rate one year ago was 6.49%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Wapakoneta 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 Wapakoneta level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 14 6.54% $8,332
    CROSSCOUNTRY MORTGAGE, LLC 8 6.50% $9,049
    Servion, Inc. 7 6.59% $6,579
    Western Ohio Mortgage Corporation 6 6.90% $7,698
    NEWREZ LLC 6 7.17% $6,448
    AMERISAVE MORTGAGE CORPORATION 5 6.05% $11,590
    UNITED WHOLESALE MORTGAGE, LLC 4 6.47% $10,471
    SUPERIOR FINANCIAL SOLUTIONS, LLC 4 6.78% $6,441
    The Huntington National Bank 3 6.46% $5,692
    MYCUMORTGAGE, LLC 3 6.58% $5,904
    PENNYMAC LOAN SERVICES, LLC 2 5.81% $12,920
    Carrington Mortgage Services, LLC 2 6.94% $5,303
    CHURCHILL MORTGAGE CORPORATION 2 7.44% $6,246
    FREEDOM MORTGAGE CORPORATION 2 7.25% $11,614
    HOWARD HANNA FINANCIAL SERVICES, INC. 2 8.00% $6,718
    LOANDEPOT.COM, LLC 2 6.13% $8,474
    PLANET HOME LENDING, LLC 2 6.06% $5,665
    UNION HOME MORTGAGE CORP. 2 7.25% $7,814
    U.S. Bank 2 7.13% $6,281
    VILLAGE CAPITAL MORTGAGE 2 6.63% $12,934
    SIWELL, INC. 1 7.13% $7,423
    Mortgage Research Center, LLC 1 7.13% $3,478
    The Federal Savings Bank 1 7.50% $7,482
    JPMorgan Chase Bank 1 6.75% $5,428
    TOP FLITE FINANCIAL, INC. 1 6.63% $9,478
    ZILLOW HOME LOANS, LLC 1 6.50% $9,354
    Flagstar Bank, FSB 1 7.00% $12,061
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 7.00% $13,202
    NATIONS DIRECT MORTGAGE, LLC 1 7.13% $9,033
    RUOFF MORTGAGE COMPANY, INC. 1 7.13% $7,309
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $7,662

    The top Wapakoneta FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 14 FHA loans originated. Their average total fees are $8,332, which is $717 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Wapakoneta FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,332), .

    The lowest rate Wapakoneta FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.54%), .

    Wapakoneta FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Wapakoneta (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 $144,900 (12.2%) $177,146 (2.7%) 0.00 134
    2018-02-01 $139,975 (9.1%) $175,776 (5.3%) 0.00 138
    2018-03-01 $149,500 (19.2%) $177,683 (7.1%) 0.00 139
    2018-04-01 $149,925 (18.6%) $182,621 (8.5%) 0.00 138
    2018-05-01 $154,750 (17.2%) $187,192 (11.5%) 0.00 140
    2018-06-01 $154,900 (19.6%) $186,179 (12.4%) 0.00 143
    2018-07-01 $146,475 (8.6%) $180,450 (10.1%) 0.00 160
    2018-08-01 $154,475 (10.4%) $186,138 (13.4%) 0.00 151
    2018-09-01 $149,900 (9.4%) $186,413 (12.9%) 0.00 150
    2018-10-01 $150,000 (13.1%) $184,066 (13.0%) 0.00 145
    2018-11-01 $152,450 (11.1%) $185,465 (9.2%) 0.00 144
    2018-12-01 $159,700 (10.4%) $190,407 (9.2%) 0.00 138
    2019-01-01 $159,600 (10.1%) $188,784 (6.6%) 0.00 109
    2019-02-01 $159,900 (14.2%) $186,548 (6.1%) 0.00 110
    2019-03-01 $163,264 (9.2%) $192,156 (8.2%) 0.00 100
    2019-04-01 $167,189 (11.5%) $197,511 (8.2%) 0.00 97
    2019-05-01 $167,350 (8.1%) $199,038 (6.3%) 0.00 116
    2019-06-01 $169,900 (9.7%) $199,327 (7.1%) 0.00 116
    2019-07-01 $157,400 (7.5%) $190,562 (5.6%) 0.00 111
    2019-08-01 $158,991 (2.9%) $189,799 (2.0%) 0.00 125
    2019-09-01 $165,127 (10.2%) $192,444 (3.2%) 0.00 125
    2019-10-01 $169,924 (13.3%) $196,411 (6.7%) 0.00 120
    2019-11-01 $169,900 (11.5%) $201,849 (8.8%) 0.00 110
    2019-12-01 $165,350 (3.5%) $198,924 (4.5%) 0.00 100
    2020-01-01 $167,400 (4.9%) $202,647 (7.3%) 0.00 88
    2020-02-01 $152,400 (-4.7%) $196,016 (5.1%) 0.00 94
    2020-03-01 $158,425 (-3.0%) $202,055 (5.2%) 0.00 91
    2020-04-01 $149,650 (-10.5%) $199,178 (0.8%) 0.00 91
    2020-05-01 $159,900 (-4.5%) $206,505 (3.8%) 0.00 82
    2020-06-01 $149,900 (-11.8%) $205,787 (3.2%) 0.00 77
    2020-07-01 $158,250 (0.5%) $197,995 (3.9%) 0.00 75
    2020-08-01 $155,900 (-1.9%) $202,289 (6.6%) 0.00 67
    2020-09-01 $163,425 (-1.0%) $208,876 (8.5%) 0.00 62
    2020-10-01 $164,000 (-3.5%) $219,596 (11.8%) 0.00 63
    2020-11-01 $135,000 (-20.5%) $195,566 (-3.1%) 0.00 62
    2020-12-01 $139,300 (-15.8%) $185,292 (-6.9%) 0.00 59
    2021-01-01 $135,000 (-19.4%) $190,340 (-6.1%) 0.00 49
    2021-02-01 $149,950 (-1.6%) $219,845 (12.2%) 0.00 39
    2021-03-01 $177,450 (12.0%) $220,302 (9.0%) 0.00 39
    2021-04-01 $196,225 (31.1%) $235,369 (18.2%) 0.00 34
    2021-05-01 $209,999 (31.3%) $277,868 (34.6%) 0.00 36
    2021-06-01 $198,800 (32.6%) $255,996 (24.4%) 0.00 36
    2021-07-01 $179,900 (13.7%) $236,868 (19.6%) 0.00 37
    2021-08-01 $175,950 (12.9%) $243,438 (20.3%) 0.00 37
    2021-09-01 $179,900 (10.1%) $211,195 (1.1%) 0.00 48
    2021-10-01 $160,950 (-1.9%) $214,060 (-2.5%) 0.00 45
    2021-11-01 $161,975 (20.0%) $220,064 (12.5%) 0.00 47
    2021-12-01 $162,000 (16.3%) $216,536 (16.9%) 0.00 44
    2022-01-01 $161,850 (19.9%) $212,228 (11.5%) 0.00 31
    2022-02-01 $150,508 (0.4%) $221,655 (0.8%) 0.00 28
    2022-03-01 $195,350 (10.1%) $239,536 (8.7%) 0.00 30
    2022-04-01 $170,000 (-13.4%) $220,926 (-6.1%) 0.00 30
    2022-05-01 $184,925 (-11.9%) $243,257 (-12.5%) 0.00 37
    2022-06-01 $192,200 (-3.3%) $253,739 (-0.9%) 0.00 43
    2022-07-01 $179,900 (0.0%) $265,849 (12.2%) 0.00 53
    2022-08-01 $179,900 (2.2%) $275,079 (13.0%) 0.00 52
    2022-09-01 $220,825 (22.8%) $296,131 (40.2%) 0.00 47
    2022-10-01 $244,900 (52.2%) $316,749 (48.0%) 0.00 46
    2022-11-01 $252,975 (56.2%) $335,560 (52.5%) 0.00 56
    2022-12-01 $240,900 (48.7%) $318,813 (47.2%) 0.00 49
    2023-01-01 $200,000 (23.6%) $300,380 (41.5%) 0.00 44
    2023-02-01 $198,675 (32.0%) $290,282 (31.0%) 0.00 42
    2023-03-01 $186,200 (-4.7%) $280,253 (17.0%) 0.00 42
    2023-04-01 $219,500 (29.1%) $303,110 (37.2%) 0.00 39
    2023-05-01 $262,450 (41.9%) $331,321 (36.2%) 0.00 36
    2023-06-01 $263,400 (37.0%) $322,467 (27.1%) 0.00 42
    2023-07-01 $270,000 (50.1%) $319,590 (20.2%) 0.00 40
    2023-08-01 $259,850 (44.4%) $310,665 (12.9%) 0.00 45
    2023-09-01 $249,950 (13.2%) $284,866 (-3.8%) 0.00 53
    2023-10-01 $279,800 (14.3%) $300,526 (-5.1%) 0.00 57
    2023-11-01 $264,700 (4.6%) $280,386 (-16.4%) 0.00 51
    2023-12-01 $253,750 (5.3%) $287,843 (-9.7%) 0.00 56
    2024-01-01 $260,750 (30.4%) $288,753 (-3.9%) 0.00 50
    2024-02-01 $284,850 (43.4%) $310,400 (6.9%) 0.00 48
    2024-03-01 $256,700 (37.9%) $307,651 (9.8%) 0.00 49
    Wapakoneta's median listing price for 2024-03-01 was $256,700, a difference of $70,500 (37.9%) versus the prior year and $-28,150 versus the prior month.

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

    Wapakoneta's average listing price for 2024-03-01 was $307,651, a difference of $27,398 (9.8%) versus the prior year and $-2,749 versus the prior month.

    For the 2024-03-01 period, Wapakoneta had 49 MLS listings, a difference of 1 listings (2%) versus the prior month and 7 listings (17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Wapakoneta (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,641 sqft
    2018-02-01 0 days 1,628 sqft
    2018-03-01 0 days 1,689 sqft
    2018-04-01 0 days 1,722 sqft
    2018-05-01 0 days 1,743 sqft
    2018-06-01 0 days 1,772 sqft
    2018-07-01 0 days 1,738 sqft
    2018-08-01 0 days 1,806 sqft
    2018-09-01 0 days 1,792 sqft
    2018-10-01 0 days 1,848 sqft
    2018-11-01 0 days 1,871 sqft
    2018-12-01 0 days 1,904 sqft
    2019-01-01 0 days 1,842 sqft
    2019-02-01 0 days 1,745 sqft
    2019-03-01 0 days 1,731 sqft
    2019-04-01 0 days 1,786 sqft
    2019-05-01 0 days 1,818 sqft
    2019-06-01 0 days 1,784 sqft
    2019-07-01 0 days 1,721 sqft
    2019-08-01 0 days 1,693 sqft
    2019-09-01 0 days 1,690 sqft
    2019-10-01 0 days 1,699 sqft
    2019-11-01 0 days 1,739 sqft
    2019-12-01 0 days 1,693 sqft
    2020-01-01 0 days 1,514 sqft
    2020-02-01 0 days 1,517 sqft
    2020-03-01 0 days 1,577 sqft
    2020-04-01 0 days 1,540 sqft
    2020-05-01 0 days 1,592 sqft
    2020-06-01 0 days 1,643 sqft
    2020-07-01 0 days 1,669 sqft
    2020-08-01 0 days 1,669 sqft
    2020-09-01 0 days 1,694 sqft
    2020-10-01 0 days 1,639 sqft
    2020-11-01 0 days 1,513 sqft
    2020-12-01 0 days 1,532 sqft
    2021-01-01 0 days 1,557 sqft
    2021-02-01 0 days 1,619 sqft
    2021-03-01 0 days 1,557 sqft
    2021-04-01 0 days 1,542 sqft
    2021-05-01 0 days 1,617 sqft
    2021-06-01 0 days 1,570 sqft
    2021-07-01 0 days 1,552 sqft
    2021-08-01 0 days 1,658 sqft
    2021-09-01 0 days 1,566 sqft
    2021-10-01 0 days 1,617 sqft
    2021-11-01 0 days 1,684 sqft
    2021-12-01 0 days 1,674 sqft
    2022-01-01 0 days 1,707 sqft
    2022-02-01 0 days 1,508 sqft
    2022-03-01 0 days 1,862 sqft
    2022-04-01 0 days 1,593 sqft
    2022-05-01 0 days 1,695 sqft
    2022-06-01 0 days 1,710 sqft
    2022-07-01 0 days 1,652 sqft
    2022-08-01 0 days 1,665 sqft
    2022-09-01 0 days 1,716 sqft
    2022-10-01 0 days 1,686 sqft
    2022-11-01 0 days 1,923 sqft
    2022-12-01 0 days 1,764 sqft
    2023-01-01 0 days 1,618 sqft
    2023-02-01 0 days 1,572 sqft
    2023-03-01 0 days 1,514 sqft
    2023-04-01 0 days 1,598 sqft
    2023-05-01 0 days 1,715 sqft
    2023-06-01 0 days 1,817 sqft
    2023-07-01 0 days 1,880 sqft
    2023-08-01 0 days 1,758 sqft
    2023-09-01 0 days 1,792 sqft
    2023-10-01 0 days 1,831 sqft
    2023-11-01 0 days 1,776 sqft
    2023-12-01 0 days 1,773 sqft
    2024-01-01 0 days 1,772 sqft
    2024-02-01 0 days 1,780 sqft
    2024-03-01 0 days 1,768 sqft
    Wapakoneta's median listing age (time on market) for 2024-03-01 was 0 days.

    Wapakoneta's median square footage for active listings during the 2024-03-01 period was 1,768 sqft. One year prior, the average listing was 1,514 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).