Washington Court House FHA Loan Rates, Closing Costs & Stats

Washington Court House, 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.

    Washington Court House's 43 lenders originated 129 FHA loans during 2023. The total origination value was $22,865,000, with an average FHA loan value of $177,248.

    Washington Court House FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Washington Court House averaged 6.9% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Washington Court House's average FHA mortgage closing costs are $6,755.

    The average rate for the prior week (2024-04-12) was 6.79% and one month ago for the week of 2024-03-15, the average rate was 6.76%.

    The average rate one year ago was 6.39%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Washington Court House 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 Washington Court House level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 13 6.45% $8,427
    UNITED WHOLESALE MORTGAGE, LLC 12 6.76% $9,960
    CROSSCOUNTRY MORTGAGE, LLC 11 7.20% $8,658
    NEWREZ LLC 8 6.53% $9,299
    Fifth Third Bank 5 7.03% $4,263
    PENNYMAC LOAN SERVICES, LLC 5 5.98% $6,876
    DAS Acquisition Company, LLC 5 7.45% $8,454
    LOANDEPOT.COM, LLC 4 7.06% $9,805
    The Huntington National Bank 3 7.29% $8,320
    GUARANTEED RATE, INC. 3 6.88% $7,779
    FREEDOM MORTGAGE CORPORATION 3 7.25% $9,897
    UNION HOME MORTGAGE CORP. 3 7.00% $9,903
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 7.38% $10,416
    Union Savings Bank 3 6.58% $6,333
    Mr. Cooper ( Nationstar Mortgage ) 2 6.75% $13,448
    NFM, INC. 2 7.56% $9,286
    HOMESIDE FINANCIAL, LLC 2 7.75% $10,609
    BROKER SOLUTIONS, INC. 2 6.87% $10,538
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.25% $7,962
    RAPID MORTGAGE COMPANY 2 6.81% $9,200
    RUOFF MORTGAGE COMPANY, INC. 2 7.19% $4,392
    WRIGHT-PATT CREDIT UNION, INC. 2 6.56% $7,101
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.94% $13,018
    T2 FINANCIAL LLC 1 7.13% $12,022
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.75% $12,837
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $10,981
    CARDINAL FINANCIAL 1 5.50% $5,904
    ENDEAVOR CAPITAL, LLC. 1 6.75% $13,747
    Gateway First Bank 1 7.50% $8,836
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $9,154
    Hometown Equity Mortgage, LLC 1 6.75% $10,243
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 6.25% $8,536
    JPMorgan Chase Bank 1 6.25% $4,825
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $8,790
    Mortgage Research Center, LLC 1 6.75% $8,585
    NATIONS DIRECT MORTGAGE, LLC 1 7.25% $12,151
    Nations Lending Corporation 1 5.75% $12,990
    NATIONS RELIABLE LENDING, LLC 1 7.13% $10,874
    Paramount Residential Mortgage Group, Inc. 1 7.25% $8,668
    Plains Commerce Bank 1 6.75% $5,089
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $10,037
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $7,484
    1st National Bank 1 7.25% $5,580

    The top Washington Court House FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 13 FHA loans originated. Their average total fees are $8,427, which is $1,533 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Washington Court House FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,427), CROSSCOUNTRY MORTGAGE, LLC ($8,658), UNITED WHOLESALE MORTGAGE, LLC ($9,960), .

    The lowest rate Washington Court House FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.45%), UNITED WHOLESALE MORTGAGE, LLC (6.76%), CROSSCOUNTRY MORTGAGE, LLC (7.20%), .

    Washington Court House FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Washington Court House (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 $109,425 (-2.8%) $171,828 (4.7%) 0.00 59
    2018-02-01 $116,225 (-2.0%) $165,924 (-16.8%) 0.00 58
    2018-03-01 $109,900 (-8.0%) $160,455 (-25.9%) 0.00 64
    2018-04-01 $108,150 (-6.0%) $146,510 (-33.6%) 0.00 71
    2018-05-01 $121,300 (49.5%) $147,129 (-18.0%) 0.00 79
    2018-06-01 $119,500 (22.0%) $154,670 (-14.6%) 0.00 76
    2018-07-01 $132,400 (26.2%) $167,383 (-8.2%) 0.00 72
    2018-08-01 $124,000 (21.1%) $163,706 (-1.3%) 0.00 69
    2018-09-01 $159,700 (54.8%) $180,684 (10.9%) 0.00 77
    2018-10-01 $153,600 (51.9%) $175,102 (8.4%) 0.00 80
    2018-11-01 $143,650 (45.3%) $165,240 (3.6%) 0.00 77
    2018-12-01 $139,950 (40.0%) $149,202 (-5.8%) 0.00 76
    2019-01-01 $131,225 (19.9%) $146,719 (-14.6%) 0.00 78
    2019-02-01 $129,900 (11.8%) $140,209 (-15.5%) 0.00 67
    2019-03-01 $142,757 (29.9%) $152,128 (-5.2%) 0.00 59
    2019-04-01 $179,900 (66.3%) $175,500 (19.8%) 0.00 51
    2019-05-01 $186,138 (53.5%) $179,219 (21.8%) 0.00 55
    2019-06-01 $185,990 (55.6%) $173,073 (11.9%) 0.00 57
    2019-07-01 $143,475 (8.4%) $155,030 (-7.4%) 0.00 65
    2019-08-01 $138,818 (12.0%) $153,202 (-6.4%) 0.00 64
    2019-09-01 $133,295 (-16.5%) $149,582 (-17.2%) 0.00 62
    2019-10-01 $127,975 (-16.7%) $145,724 (-16.8%) 0.00 56
    2019-11-01 $104,950 (-26.9%) $130,062 (-21.3%) 0.00 56
    2019-12-01 $104,900 (-25.0%) $124,258 (-16.7%) 0.00 56
    2020-01-01 $86,800 (-33.9%) $121,353 (-17.3%) 0.00 50
    2020-02-01 $89,450 (-31.1%) $123,807 (-11.7%) 0.00 51
    2020-03-01 $147,450 (3.3%) $165,613 (8.9%) 0.00 44
    2020-04-01 $132,450 (-26.4%) $158,914 (-9.5%) 0.00 47
    2020-05-01 $129,900 (-30.2%) $141,720 (-20.9%) 0.00 45
    2020-06-01 $106,925 (-42.5%) $141,057 (-18.5%) 0.00 44
    2020-07-01 $134,900 (-6.0%) $147,656 (-4.8%) 0.00 44
    2020-08-01 $153,500 (10.6%) $171,477 (11.9%) 0.00 38
    2020-09-01 $141,175 (5.9%) $167,887 (12.2%) 0.00 38
    2020-10-01 $149,925 (17.2%) $177,823 (22.0%) 0.00 33
    2020-11-01 $141,450 (34.8%) $175,597 (35.0%) 0.00 41
    2020-12-01 $139,900 (33.4%) $182,278 (46.7%) 0.00 34
    2021-01-01 $149,900 (72.7%) $188,098 (55.0%) 0.00 20
    2021-02-01 $135,650 (51.7%) $183,041 (47.8%) 0.00 23
    2021-03-01 $153,550 (4.1%) $186,643 (12.7%) 0.00 19
    2021-04-01 $144,750 (9.3%) $181,803 (14.4%) 0.00 21
    2021-05-01 $163,750 (26.1%) $202,939 (43.2%) 0.00 27
    2021-06-01 $151,125 (41.3%) $193,917 (37.5%) 0.00 35
    2021-07-01 $149,900 (11.1%) $189,401 (28.3%) 0.00 45
    2021-08-01 $135,400 (-11.8%) $178,257 (4.0%) 0.00 47
    2021-09-01 $126,975 (-10.1%) $175,508 (4.5%) 0.00 40
    2021-10-01 $134,658 (-10.2%) $171,390 (-3.6%) 0.00 39
    2021-11-01 $128,925 (-8.9%) $173,085 (-1.4%) 0.00 25
    2021-12-01 $162,475 (16.1%) $197,076 (8.1%) 0.00 22
    2022-01-01 $174,900 (16.7%) $204,688 (8.8%) 0.00 18
    2022-02-01 $210,961 (55.5%) $233,832 (27.8%) 0.00 13
    2022-03-01 $199,900 (30.2%) $233,402 (25.1%) 0.00 18
    2022-04-01 $179,900 (24.3%) $209,142 (15.0%) 0.00 20
    2022-05-01 $193,100 (17.9%) $208,271 (2.6%) 0.00 34
    2022-06-01 $196,200 (29.8%) $215,920 (11.4%) 0.00 38
    2022-07-01 $164,900 (10.0%) $206,236 (8.9%) 0.00 40
    2022-08-01 $167,350 (23.6%) $213,711 (19.9%) 0.00 41
    2022-09-01 $159,180 (25.4%) $197,100 (12.3%) 0.00 41
    2022-10-01 $159,900 (18.8%) $180,428 (5.3%) 0.00 41
    2022-11-01 $172,000 (33.4%) $193,129 (11.6%) 0.00 43
    2022-12-01 $159,900 (-1.6%) $173,420 (-12.0%) 0.00 44
    2023-01-01 $154,900 (-11.4%) $171,098 (-16.4%) 0.00 43
    2023-02-01 $139,000 (-34.1%) $155,398 (-33.5%) 0.00 37
    2023-03-01 $142,450 (-28.7%) $190,401 (-18.4%) 0.00 32
    2023-04-01 $152,500 (-15.2%) $189,141 (-9.6%) 0.00 28
    2023-05-01 $133,600 (-30.8%) $176,765 (-15.1%) 0.00 26
    2023-06-01 $199,925 (1.9%) $198,674 (-8.0%) 0.00 26
    2023-07-01 $220,000 (33.4%) $224,018 (8.6%) 0.00 29
    2023-08-01 $222,450 (32.9%) $236,257 (10.6%) 0.00 35
    2023-09-01 $219,900 (38.2%) $220,689 (12.0%) 0.00 43
    2023-10-01 $239,675 (49.9%) $246,357 (36.5%) 0.00 39
    2023-11-01 $214,950 (25.0%) $224,413 (16.2%) 0.00 42
    2023-12-01 $199,900 (25.0%) $234,457 (35.2%) 0.00 42
    2024-01-01 $214,900 (38.7%) $248,558 (45.3%) 0.00 41
    2024-02-01 $233,825 (68.2%) $255,690 (64.5%) 0.00 37
    2024-03-01 $214,500 (50.6%) $239,566 (25.8%) 0.00 35
    Washington Court House's median listing price for 2024-03-01 was $214,500, a difference of $72,050 (50.6%) versus the prior year and $-19,325 versus the prior month.

    Washington Court House's median listing price comes in at 0% of the national average.

    Washington Court House's average listing price for 2024-03-01 was $239,566, a difference of $49,165 (25.8%) versus the prior year and $-16,124 versus the prior month.

    For the 2024-03-01 period, Washington Court House had 35 MLS listings, a difference of -2 listings (-5%) versus the prior month and 3 listings (9%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Washington Court House (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,708 sqft
    2018-02-01 0 days 1,693 sqft
    2018-03-01 0 days 1,705 sqft
    2018-04-01 0 days 1,592 sqft
    2018-05-01 0 days 1,610 sqft
    2018-06-01 0 days 1,705 sqft
    2018-07-01 0 days 1,731 sqft
    2018-08-01 0 days 1,717 sqft
    2018-09-01 0 days 1,828 sqft
    2018-10-01 0 days 1,771 sqft
    2018-11-01 0 days 1,775 sqft
    2018-12-01 0 days 1,760 sqft
    2019-01-01 0 days 1,706 sqft
    2019-02-01 0 days 1,859 sqft
    2019-03-01 0 days 1,858 sqft
    2019-04-01 0 days 1,861 sqft
    2019-05-01 0 days 1,869 sqft
    2019-06-01 0 days 1,864 sqft
    2019-07-01 0 days 1,848 sqft
    2019-08-01 0 days 1,775 sqft
    2019-09-01 0 days 1,676 sqft
    2019-10-01 0 days 1,600 sqft
    2019-11-01 0 days 1,598 sqft
    2019-12-01 0 days 1,648 sqft
    2020-01-01 0 days 1,577 sqft
    2020-02-01 0 days 1,464 sqft
    2020-03-01 0 days 1,687 sqft
    2020-04-01 0 days 1,641 sqft
    2020-05-01 0 days 1,560 sqft
    2020-06-01 0 days 1,498 sqft
    2020-07-01 0 days 1,531 sqft
    2020-08-01 0 days 1,600 sqft
    2020-09-01 0 days 1,476 sqft
    2020-10-01 0 days 1,648 sqft
    2020-11-01 0 days 1,634 sqft
    2020-12-01 0 days 1,601 sqft
    2021-01-01 0 days 1,567 sqft
    2021-02-01 0 days 1,687 sqft
    2021-03-01 0 days 1,622 sqft
    2021-04-01 0 days 1,602 sqft
    2021-05-01 0 days 1,568 sqft
    2021-06-01 0 days 1,536 sqft
    2021-07-01 0 days 1,682 sqft
    2021-08-01 0 days 1,429 sqft
    2021-09-01 0 days 1,502 sqft
    2021-10-01 0 days 1,412 sqft
    2021-11-01 0 days 1,416 sqft
    2021-12-01 0 days 1,502 sqft
    2022-01-01 0 days 1,553 sqft
    2022-02-01 0 days 1,808 sqft
    2022-03-01 0 days 1,663 sqft
    2022-04-01 0 days 1,748 sqft
    2022-05-01 0 days 1,673 sqft
    2022-06-01 0 days 1,641 sqft
    2022-07-01 0 days 1,546 sqft
    2022-08-01 0 days 1,658 sqft
    2022-09-01 0 days 1,414 sqft
    2022-10-01 0 days 1,331 sqft
    2022-11-01 0 days 1,417 sqft
    2022-12-01 0 days 1,424 sqft
    2023-01-01 0 days 1,347 sqft
    2023-02-01 0 days 1,232 sqft
    2023-03-01 0 days 1,269 sqft
    2023-04-01 0 days 1,275 sqft
    2023-05-01 0 days 1,302 sqft
    2023-06-01 0 days 1,396 sqft
    2023-07-01 0 days 1,444 sqft
    2023-08-01 0 days 1,602 sqft
    2023-09-01 0 days 1,590 sqft
    2023-10-01 0 days 1,735 sqft
    2023-11-01 0 days 1,440 sqft
    2023-12-01 0 days 1,492 sqft
    2024-01-01 0 days 1,599 sqft
    2024-02-01 0 days 1,671 sqft
    2024-03-01 0 days 1,456 sqft
    Washington Court House's median listing age (time on market) for 2024-03-01 was 0 days.

    Washington Court House's median square footage for active listings during the 2024-03-01 period was 1,456 sqft. One year prior, the average listing was 1,269 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).