Warrensburg FHA Loan Rates, Closing Costs & Stats

Warrensburg, MO

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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.

    Warrensburg's 40 lenders originated 128 FHA loans during 2023. The total origination value was $26,820,000, with an average FHA loan value of $209,531.

    Warrensburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Warrensburg averaged 6.63% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Warrensburg's average FHA mortgage closing costs are $6,391.

    The average rate for the prior week (2024-11-01) was 6.31% and one month ago for the week of 2024-10-04, the average rate was 6.03%.

    The average rate one year ago was 7.47%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.63%.

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

    Warrensburg 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 Warrensburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FLAT BRANCH MORTGAGE, INC. 17 6.84% $7,127
    QUICKEN LOANS, LLC 14 6.52% $8,969
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 6.94% $6,902
    Midwest Mortgage Associates Corporation 10 6.92% $5,966
    SUMMIT FUNDING, INC. 6 6.96% $9,722
    COMMUNITY MORTGAGE, LLC 5 6.55% $7,553
    LEADERONE FINANCIAL CORPORATION 5 6.27% $6,597
    GENEVA FINANCIAL, LLC 4 6.66% $10,627
    Prosperity Home Mortgage, LLC 4 6.66% $9,305
    The Central Trust Bank 4 7.16% $6,992
    ENDEAVOR CAPITAL, LLC. 4 6.94% $13,119
    AMERICAN FINANCIAL NETWORK, INC. 3 6.54% $10,893
    ZILLOW HOME LOANS, LLC 2 5.88% $11,256
    BNC National Bank 2 6.25% $6,583
    CROSSCOUNTRY MORTGAGE, LLC 2 6.50% $9,149
    FREEDOM MORTGAGE CORPORATION 2 6.50% $16,220
    LOANDEPOT.COM, LLC 2 7.25% $10,073
    PENNYMAC LOAN SERVICES, LLC 2 5.75% $10,291
    VILLAGE CAPITAL MORTGAGE 2 6.50% $9,985
    LOANPAL, LLC 1 5.99% $11,845
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $8,903
    Mortgage Investment Services Corporation 1 6.25% $11,024
    MOVEMENT MORTGAGE, LLC 1 7.75% $8,384
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $16,992
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $15,407
    NBKC BANK 1 7.50% $5,391
    Neighborhood Loans, Inc. 1 6.38% $8,428
    NEWREZ LLC 1 7.25% $11,201
    NFM, INC. 1 7.13% $8,531
    OPEN MORTGAGE, LLC 1 6.25% $8,358
    ACADEMY MORTGAGE CORPORATION 1 6.25% $6,497
    Carrington Mortgage Services, LLC 1 6.63% $7,112
    CARDINAL FINANCIAL 1 4.88% $13,757
    ROYAL UNITED MORTGAGE LLC 1 7.75% $6,249
    BROKER SOLUTIONS, INC. 1 6.60% $5,541
    Bank of England 1 6.25% $8,821
    UMB Bank 1 6.63% $5,264
    Gateway First Bank 1 7.25% $6,470
    LENOX FINANCIAL MORTGAGE CORPORATION 1 7.00% $5,842
    UNITED WHOLESALE MORTGAGE, LLC 1 5.48% $9,674

    The top Warrensburg FHA lender as defined by loan originations is FLAT BRANCH MORTGAGE, INC., with 17 FHA loans originated. Their average total fees are $7,127, which is $1,841 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Warrensburg FHA lenders (with over 10 loans originated) are Midwest Mortgage Associates Corporation ($5,966), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($6,902), FLAT BRANCH MORTGAGE, INC. ($7,127), QUICKEN LOANS, LLC ($8,969) and .

    The lowest rate Warrensburg FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.52%), FLAT BRANCH MORTGAGE, INC. (6.84%), Midwest Mortgage Associates Corporation (6.92%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.94%) and .

    Warrensburg FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Warrensburg (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 $159,200 (5.7%) $214,881 (11.8%) 0.00 154
    2018-02-01 $174,925 (16.6%) $220,554 (13.0%) 0.00 159
    2018-03-01 $174,900 (11.8%) $218,945 (9.6%) 0.00 166
    2018-04-01 $178,275 (8.4%) $223,796 (10.2%) 0.00 169
    2018-05-01 $184,900 (4.2%) $227,850 (10.4%) 0.00 175
    2018-06-01 $187,450 (7.4%) $236,092 (14.9%) 0.00 192
    2018-07-01 $192,500 (10.0%) $247,536 (18.1%) 0.00 198
    2018-08-01 $191,250 (15.0%) $248,698 (16.6%) 0.00 188
    2018-09-01 $198,200 (22.0%) $249,763 (18.3%) 0.00 187
    2018-10-01 $194,675 (21.7%) $237,096 (13.6%) 0.00 171
    2018-11-01 $184,900 (23.3%) $224,866 (9.6%) 0.00 159
    2018-12-01 $183,900 (17.2%) $219,372 (6.5%) 0.00 143
    2019-01-01 $181,575 (14.1%) $226,539 (5.4%) 0.00 131
    2019-02-01 $178,888 (2.3%) $227,328 (3.1%) 0.00 134
    2019-03-01 $181,893 (4.0%) $230,105 (5.1%) 0.00 146
    2019-04-01 $186,700 (4.7%) $237,587 (6.2%) 0.00 151
    2019-05-01 $194,200 (5.0%) $246,484 (8.2%) 0.00 160
    2019-06-01 $204,950 (9.3%) $256,558 (8.7%) 0.00 165
    2019-07-01 $184,200 (-4.3%) $238,120 (-3.8%) 0.00 179
    2019-08-01 $180,273 (-5.7%) $232,298 (-6.6%) 0.00 180
    2019-09-01 $182,932 (-7.7%) $231,049 (-7.5%) 0.00 181
    2019-10-01 $185,000 (-5.0%) $230,215 (-2.9%) 0.00 182
    2019-11-01 $180,000 (-2.7%) $224,094 (-0.3%) 0.00 163
    2019-12-01 $179,450 (-2.4%) $224,740 (2.5%) 0.00 142
    2020-01-01 $177,975 (-2.0%) $223,372 (-1.4%) 0.00 129
    2020-02-01 $187,000 (4.5%) $237,499 (4.5%) 0.00 110
    2020-03-01 $214,500 (17.9%) $247,669 (7.6%) 0.00 117
    2020-04-01 $247,238 (32.4%) $258,219 (8.7%) 0.00 118
    2020-05-01 $256,950 (32.3%) $272,644 (10.6%) 0.00 105
    2020-06-01 $243,700 (18.9%) $267,825 (4.4%) 0.00 100
    2020-07-01 $236,075 (28.2%) $269,057 (13.0%) 0.00 103
    2020-08-01 $249,900 (38.6%) $283,420 (22.0%) 0.00 89
    2020-09-01 $253,700 (38.7%) $281,020 (21.6%) 0.00 95
    2020-10-01 $219,900 (18.9%) $278,704 (21.1%) 0.00 92
    2020-11-01 $222,450 (23.6%) $284,764 (27.1%) 0.00 89
    2020-12-01 $226,125 (26.0%) $295,801 (31.6%) 0.00 73
    2021-01-01 $237,500 (33.5%) $312,772 (40.0%) 0.00 72
    2021-02-01 $214,950 (15.0%) $303,994 (28.0%) 0.00 52
    2021-03-01 $203,625 (-5.1%) $268,895 (8.6%) 0.00 47
    2021-04-01 $234,375 (-5.2%) $282,455 (9.4%) 0.00 45
    2021-05-01 $239,950 (-6.6%) $284,171 (4.2%) 0.00 44
    2021-06-01 $243,750 (0.0%) $303,175 (13.2%) 0.00 66
    2021-07-01 $224,900 (-4.7%) $272,282 (1.2%) 0.00 83
    2021-08-01 $213,125 (-14.7%) $263,575 (-7.0%) 0.00 96
    2021-09-01 $230,950 (-9.0%) $284,601 (1.3%) 0.00 89
    2021-10-01 $244,900 (11.4%) $319,010 (14.5%) 0.00 81
    2021-11-01 $248,000 (11.5%) $324,385 (13.9%) 0.00 85
    2021-12-01 $245,000 (8.4%) $324,839 (9.8%) 0.00 69
    2022-01-01 $239,000 (0.6%) $311,975 (-0.3%) 0.00 50
    2022-02-01 $257,975 (20.0%) $342,882 (12.8%) 0.00 48
    2022-03-01 $236,750 (16.3%) $298,505 (11.0%) 0.00 56
    2022-04-01 $249,450 (6.4%) $335,406 (18.8%) 0.00 68
    2022-05-01 $256,175 (6.8%) $349,367 (22.9%) 0.00 81
    2022-06-01 $249,750 (2.5%) $300,141 (-1.0%) 0.00 98
    2022-07-01 $249,000 (10.7%) $294,699 (8.2%) 0.00 136
    2022-08-01 $259,900 (22.0%) $299,634 (13.7%) 0.00 143
    2022-09-01 $257,250 (11.4%) $293,483 (3.1%) 0.00 143
    2022-10-01 $240,000 (-2.0%) $280,458 (-12.1%) 0.00 150
    2022-11-01 $259,900 (4.8%) $295,325 (-9.0%) 0.00 134
    2022-12-01 $259,050 (5.7%) $296,316 (-8.8%) 0.00 134
    2023-01-01 $279,675 (17.0%) $307,945 (-1.3%) 0.00 93
    2023-02-01 $280,000 (8.5%) $341,535 (-0.4%) 0.00 83
    2023-03-01 $292,475 (23.5%) $351,132 (17.6%) 0.00 80
    2023-04-01 $315,000 (26.3%) $359,716 (7.3%) 0.00 65
    2023-05-01 $299,175 (16.8%) $353,134 (1.1%) 0.00 66
    2023-06-01 $329,450 (31.9%) $396,267 (32.0%) 0.00 91
    2023-07-01 $325,000 (30.5%) $409,249 (38.9%) 0.00 100
    2023-08-01 $332,225 (27.8%) $392,095 (30.9%) 0.00 107
    2023-09-01 $335,000 (30.2%) $401,949 (37.0%) 0.00 128
    2023-10-01 $332,450 (38.5%) $388,927 (38.7%) 0.00 143
    2023-11-01 $317,425 (22.1%) $366,852 (24.2%) 0.00 153
    2023-12-01 $294,950 (13.9%) $362,224 (22.2%) 0.00 148
    2024-01-01 $322,475 (15.3%) $374,590 (21.6%) 0.00 125
    2024-02-01 $333,450 (19.1%) $394,744 (15.6%) 0.00 120
    2024-03-01 $332,400 (13.7%) $398,231 (13.4%) 0.00 130
    2024-04-01 $328,700 (4.4%) $402,946 (12.0%) 0.00 120
    2024-05-01 $360,100 (20.4%) $435,820 (23.4%) 0.00 123
    2024-06-01 $345,900 (5.0%) $416,065 (5.0%) 0.00 139
    2024-07-01 $330,750 (1.8%) $416,539 (1.8%) 0.00 162
    2024-08-01 $325,000 (-2.2%) $422,091 (7.7%) 0.00 168
    2024-09-01 $323,500 (-3.4%) $406,631 (1.2%) 0.00 175
    2024-10-01 $320,000 (-3.7%) $396,018 (1.8%) 0.00 182
    Warrensburg's median listing price for 2024-10-01 was $320,000, a difference of $-12,450 (-3.7%) versus the prior year and $-3,500 versus the prior month.

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

    Warrensburg's average listing price for 2024-10-01 was $396,018, a difference of $7,091 (1.8%) versus the prior year and $-10,613 versus the prior month.

    For the 2024-10-01 period, Warrensburg had 182 MLS listings, a difference of 7 listings (4%) versus the prior month and 39 listings (27%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Warrensburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,727 sqft
    2018-02-01 0 days 1,778 sqft
    2018-03-01 0 days 1,800 sqft
    2018-04-01 0 days 1,796 sqft
    2018-05-01 0 days 1,759 sqft
    2018-06-01 0 days 1,800 sqft
    2018-07-01 0 days 1,828 sqft
    2018-08-01 0 days 1,933 sqft
    2018-09-01 0 days 1,998 sqft
    2018-10-01 0 days 2,001 sqft
    2018-11-01 0 days 1,902 sqft
    2018-12-01 0 days 1,825 sqft
    2019-01-01 0 days 1,785 sqft
    2019-02-01 0 days 1,831 sqft
    2019-03-01 0 days 1,841 sqft
    2019-04-01 0 days 1,848 sqft
    2019-05-01 0 days 1,876 sqft
    2019-06-01 0 days 1,996 sqft
    2019-07-01 0 days 1,929 sqft
    2019-08-01 0 days 1,887 sqft
    2019-09-01 0 days 1,926 sqft
    2019-10-01 0 days 1,952 sqft
    2019-11-01 0 days 1,936 sqft
    2019-12-01 0 days 1,912 sqft
    2020-01-01 0 days 1,899 sqft
    2020-02-01 0 days 1,854 sqft
    2020-03-01 0 days 1,893 sqft
    2020-04-01 0 days 1,995 sqft
    2020-05-01 0 days 2,084 sqft
    2020-06-01 0 days 2,110 sqft
    2020-07-01 0 days 2,082 sqft
    2020-08-01 0 days 2,085 sqft
    2020-09-01 0 days 2,070 sqft
    2020-10-01 0 days 1,957 sqft
    2020-11-01 0 days 2,054 sqft
    2020-12-01 0 days 2,014 sqft
    2021-01-01 0 days 1,978 sqft
    2021-02-01 0 days 1,788 sqft
    2021-03-01 0 days 1,844 sqft
    2021-04-01 0 days 1,800 sqft
    2021-05-01 0 days 1,768 sqft
    2021-06-01 0 days 1,802 sqft
    2021-07-01 0 days 1,779 sqft
    2021-08-01 0 days 1,699 sqft
    2021-09-01 0 days 1,788 sqft
    2021-10-01 0 days 1,860 sqft
    2021-11-01 0 days 1,908 sqft
    2021-12-01 0 days 1,821 sqft
    2022-01-01 0 days 1,812 sqft
    2022-02-01 0 days 1,984 sqft
    2022-03-01 0 days 1,779 sqft
    2022-04-01 0 days 1,905 sqft
    2022-05-01 0 days 1,859 sqft
    2022-06-01 0 days 1,823 sqft
    2022-07-01 0 days 1,838 sqft
    2022-08-01 0 days 1,800 sqft
    2022-09-01 0 days 1,836 sqft
    2022-10-01 0 days 1,783 sqft
    2022-11-01 0 days 1,791 sqft
    2022-12-01 0 days 1,762 sqft
    2023-01-01 0 days 1,855 sqft
    2023-02-01 0 days 1,971 sqft
    2023-03-01 0 days 1,934 sqft
    2023-04-01 0 days 1,885 sqft
    2023-05-01 0 days 2,054 sqft
    2023-06-01 0 days 2,101 sqft
    2023-07-01 0 days 2,005 sqft
    2023-08-01 0 days 2,004 sqft
    2023-09-01 0 days 1,891 sqft
    2023-10-01 0 days 1,932 sqft
    2023-11-01 0 days 1,837 sqft
    2023-12-01 0 days 1,790 sqft
    2024-01-01 0 days 1,789 sqft
    2024-02-01 0 days 1,881 sqft
    2024-03-01 0 days 1,899 sqft
    2024-04-01 0 days 1,863 sqft
    2024-05-01 0 days 1,975 sqft
    2024-06-01 0 days 1,968 sqft
    2024-07-01 0 days 1,958 sqft
    2024-08-01 0 days 1,956 sqft
    2024-09-01 0 days 1,973 sqft
    2024-10-01 0 days 1,934 sqft
    Warrensburg's median listing age (time on market) for 2024-10-01 was 0 days.

    Warrensburg's median square footage for active listings during the 2024-10-01 period was 1,934 sqft. One year prior, the average listing was 1,932 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).