Wauchula FHA Loan Rates, Closing Costs & Stats

Wauchula, FL

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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.

    Wauchula's 35 lenders originated 65 FHA loans during 2023. The total origination value was $15,555,000, with an average FHA loan value of $239,308.

    Wauchula FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Wauchula averaged 6.95% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Wauchula's average FHA mortgage closing costs are $8,380.

    The average rate for the prior week (2024-04-12) was 7.04% and one month ago for the week of 2024-03-15, the average rate was 6.51%.

    The average rate one year ago was 6.44%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Wauchula 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 Wauchula level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 9 6.75% $11,899
    QUICKEN LOANS, LLC 5 6.14% $7,955
    NTFN, INC. 4 6.69% $12,138
    LEADERONE FINANCIAL CORPORATION 4 6.78% $10,043
    STOCKTON MORTGAGE CORPORATION 3 7.42% $15,126
    CARDINAL FINANCIAL 2 6.75% $13,921
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $10,298
    GARDNER FINANCIAL SERVICES, LTD. 2 7.63% $8,947
    LOANDEPOT.COM, LLC 2 6.31% $10,264
    CROSSCOUNTRY MORTGAGE, LLC 2 6.66% $11,969
    GSF Mortgage Corporation 1 6.13% $24,611
    GUARANTEED RATE, INC. 1 6.88% $17,446
    GUILD MORTGAGE COMPANY 1 6.00% $10,997
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.75% $11,237
    LAND HOME FINANCIAL SERVICES, INC. 1 6.50% $14,202
    MOVEMENT MORTGAGE, LLC 1 7.75% $15,422
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $11,550
    MY MORTGAGE, INC. 1 6.63% $7,827
    NEWREZ LLC 1 5.75% $17,677
    OPEN MORTGAGE, LLC 1 6.63% $12,782
    PENNYMAC LOAN SERVICES, LLC 1 6.00% $9,911
    SOUTHWEST STAGE FUNDING, LLC 1 6.38% $9,176
    TOP FLITE FINANCIAL, INC. 1 7.00% $18,794
    TOWNE MORTGAGE COMPANY 1 7.13% $13,683
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.13% $9,851
    VAN DYK MORTGAGE CORPORATION 1 5.63% $7,051
    CALIBER HOME LOANS, INC. 1 6.00% $8,541
    Carrington Mortgage Services, LLC 1 7.13% $10,856
    CHURCHILL MORTGAGE CORPORATION 1 7.50% $9,143
    DELMAR FINANCIAL COMPANY 1 7.13% $9,064
    EVERETT FINANCIAL, INC. 1 7.13% $9,175
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.75% $9,485
    Flagstar Bank, FSB 1 5.16% $17,852
    FREEDOM MORTGAGE CORPORATION 1 7.25% $9,747
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.63% $8,283

    The top Wauchula FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 9 FHA loans originated. Their average total fees are $11,899, which is $3,944 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Wauchula FHA lenders (with over 10 loans originated) are .

    The lowest rate Wauchula FHA lenders (with over 10 loans originated) are .

    Wauchula FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Wauchula (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 $179,550 (11.4%) $238,242 (-6.1%) 0.00 34
    2018-02-01 $187,950 (10.6%) $224,823 (-15.7%) 0.00 28
    2018-03-01 $178,500 (-0.4%) $202,934 (-29.0%) 0.00 26
    2018-04-01 $182,500 (4.0%) $228,826 (-16.8%) 0.00 29
    2018-05-01 $237,375 (31.2%) $279,737 (1.3%) 0.00 28
    2018-06-01 $225,000 (26.6%) $261,195 (1.5%) 0.00 37
    2018-07-01 $214,475 (38.0%) $255,641 (17.1%) 0.00 40
    2018-08-01 $235,950 (41.3%) $283,035 (27.5%) 0.00 37
    2018-09-01 $209,900 (24.4%) $272,369 (21.7%) 0.00 38
    2018-10-01 $194,950 (2.6%) $252,463 (0.2%) 0.00 38
    2018-11-01 $192,750 (-6.2%) $242,801 (-4.2%) 0.00 46
    2018-12-01 $204,950 (4.6%) $275,298 (7.7%) 0.00 47
    2019-01-01 $224,975 (25.3%) $282,970 (18.8%) 0.00 45
    2019-02-01 $224,925 (19.7%) $333,576 (48.4%) 0.00 47
    2019-03-01 $251,707 (41.0%) $376,387 (85.5%) 0.00 42
    2019-04-01 $244,207 (33.8%) $392,543 (71.6%) 0.00 40
    2019-05-01 $219,900 (-7.4%) $376,318 (34.5%) 0.00 35
    2019-06-01 $222,400 (-1.2%) $352,518 (35.0%) 0.00 34
    2019-07-01 $203,675 (-5.0%) $316,265 (23.7%) 0.00 38
    2019-08-01 $216,291 (-8.3%) $321,734 (13.7%) 0.00 39
    2019-09-01 $218,377 (4.0%) $326,091 (19.7%) 0.00 42
    2019-10-01 $219,518 (12.6%) $327,281 (29.6%) 0.00 43
    2019-11-01 $219,900 (14.1%) $321,366 (32.4%) 0.00 43
    2019-12-01 $210,925 (2.9%) $325,530 (18.3%) 0.00 38
    2020-01-01 $227,700 (1.2%) $335,810 (18.7%) 0.00 35
    2020-02-01 $207,000 (-8.0%) $320,053 (-4.1%) 0.00 27
    2020-03-01 $181,175 (-28.0%) $289,065 (-23.2%) 0.00 24
    2020-04-01 $178,650 (-26.8%) $239,948 (-38.9%) 0.00 18
    2020-05-01 $199,000 (-9.5%) $245,576 (-34.7%) 0.00 21
    2020-06-01 $213,700 (-3.9%) $285,120 (-19.1%) 0.00 19
    2020-07-01 $219,700 (7.9%) $292,756 (-7.4%) 0.00 15
    2020-08-01 $249,500 (15.4%) $332,400 (3.3%) 0.00 11
    2020-09-01 $202,100 (-7.5%) $265,931 (-18.5%) 0.00 15
    2020-10-01 $194,450 (-11.4%) $264,147 (-19.3%) 0.00 18
    2020-11-01 $162,400 (-26.2%) $308,100 (-4.1%) 0.00 20
    2020-12-01 $180,925 (-14.2%) $302,989 (-6.9%) 0.00 22
    2021-01-01 $199,450 (-12.4%) $313,600 (-6.6%) 0.00 22
    2021-02-01 $191,700 (-7.4%) $320,160 (0.0%) 0.00 17
    2021-03-01 $253,950 (40.2%) $346,606 (19.9%) 0.00 15
    2021-04-01 $264,500 (48.1%) $423,673 (76.6%) 0.00 13
    2021-05-01 $292,250 (46.9%) $436,248 (77.6%) 0.00 16
    2021-06-01 $394,975 (84.8%) $451,906 (58.5%) 0.00 18
    2021-07-01 $412,500 (87.8%) $454,767 (55.3%) 0.00 20
    2021-08-01 $410,000 (64.3%) $445,644 (34.1%) 0.00 22
    2021-09-01 $442,500 (119.0%) $517,285 (94.5%) 0.00 21
    2021-10-01 $419,250 (115.6%) $500,671 (89.5%) 0.00 22
    2021-11-01 $412,125 (153.8%) $472,397 (53.3%) 0.00 19
    2021-12-01 $393,750 (117.6%) $491,081 (62.1%) 0.00 19
    2022-01-01 $395,000 (98.0%) $474,058 (51.2%) 0.00 17
    2022-02-01 $416,250 (117.1%) $533,818 (66.7%) 0.00 19
    2022-03-01 $435,000 (71.3%) $564,486 (62.9%) 0.00 19
    2022-04-01 $420,000 (58.8%) $538,389 (27.1%) 0.00 19
    2022-05-01 $401,250 (37.3%) $601,812 (38.0%) 0.00 20
    2022-06-01 $399,975 (1.3%) $554,126 (22.6%) 0.00 24
    2022-07-01 $280,000 (-32.1%) $418,605 (-8.0%) 0.00 42
    2022-08-01 $287,000 (-30.0%) $425,196 (-4.6%) 0.00 37
    2022-09-01 $298,825 (-32.5%) $434,548 (-16.0%) 0.00 33
    2022-10-01 $309,000 (-26.3%) $431,683 (-13.8%) 0.00 33
    2022-11-01 $294,750 (-28.5%) $461,736 (-2.3%) 0.00 30
    2022-12-01 $287,950 (-26.9%) $405,488 (-17.4%) 0.00 28
    2023-01-01 $302,425 (-23.4%) $424,220 (-10.5%) 0.00 32
    2023-02-01 $358,750 (-13.8%) $488,346 (-8.5%) 0.00 27
    2023-03-01 $308,675 (-29.0%) $494,969 (-12.3%) 0.00 25
    2023-04-01 $380,000 (-9.5%) $483,119 (-10.3%) 0.00 28
    2023-05-01 $344,950 (-14.0%) $451,121 (-25.0%) 0.00 27
    2023-06-01 $344,750 (-13.8%) $436,642 (-21.2%) 0.00 28
    2023-07-01 $352,500 (25.9%) $397,147 (-5.1%) 0.00 31
    2023-08-01 $327,750 (14.2%) $383,433 (-9.8%) 0.00 30
    2023-09-01 $399,900 (33.8%) $420,336 (-3.3%) 0.00 30
    2023-10-01 $312,400 (1.1%) $397,108 (-8.0%) 0.00 35
    2023-11-01 $326,175 (10.7%) $471,218 (2.1%) 0.00 37
    2023-12-01 $349,950 (21.5%) $475,520 (17.3%) 0.00 37
    2024-01-01 $398,425 (31.7%) $502,667 (18.5%) 0.00 35
    2024-02-01 $404,900 (12.9%) $454,796 (-6.9%) 0.00 35
    2024-03-01 $369,900 (19.8%) $421,886 (-14.8%) 0.00 35
    Wauchula's median listing price for 2024-03-01 was $369,900, a difference of $61,225 (19.8%) versus the prior year and $-35,000 versus the prior month.

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

    Wauchula's average listing price for 2024-03-01 was $421,886, a difference of $-73,083 (-14.8%) versus the prior year and $-32,910 versus the prior month.

    For the 2024-03-01 period, Wauchula had 35 MLS listings, a difference of 0 listings (0%) versus the prior month and 10 listings (40%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Wauchula (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,376 sqft
    2018-02-01 0 days 2,645 sqft
    2018-03-01 0 days 2,356 sqft
    2018-04-01 0 days 2,445 sqft
    2018-05-01 0 days 2,855 sqft
    2018-06-01 0 days 2,690 sqft
    2018-07-01 0 days 2,632 sqft
    2018-08-01 0 days 2,896 sqft
    2018-09-01 0 days 2,777 sqft
    2018-10-01 0 days 2,412 sqft
    2018-11-01 0 days 2,305 sqft
    2018-12-01 0 days 1,842 sqft
    2019-01-01 0 days 1,785 sqft
    2019-02-01 0 days 1,966 sqft
    2019-03-01 0 days 2,012 sqft
    2019-04-01 0 days 2,050 sqft
    2019-05-01 0 days 2,126 sqft
    2019-06-01 0 days 2,036 sqft
    2019-07-01 0 days 2,036 sqft
    2019-08-01 0 days 2,060 sqft
    2019-09-01 0 days 1,977 sqft
    2019-10-01 0 days 1,907 sqft
    2019-11-01 0 days 1,912 sqft
    2019-12-01 0 days 1,886 sqft
    2020-01-01 0 days 1,970 sqft
    2020-02-01 0 days 1,812 sqft
    2020-03-01 0 days 1,811 sqft
    2020-04-01 0 days 1,936 sqft
    2020-05-01 0 days 1,984 sqft
    2020-06-01 0 days 1,793 sqft
    2020-07-01 0 days 1,900 sqft
    2020-08-01 0 days 2,105 sqft
    2020-09-01 0 days 1,831 sqft
    2020-10-01 0 days 1,790 sqft
    2020-11-01 0 days 1,694 sqft
    2020-12-01 0 days 1,772 sqft
    2021-01-01 0 days 1,780 sqft
    2021-02-01 0 days 1,805 sqft
    2021-03-01 0 days 1,840 sqft
    2021-04-01 0 days 2,017 sqft
    2021-05-01 0 days 2,539 sqft
    2021-06-01 0 days 1,881 sqft
    2021-07-01 0 days 1,850 sqft
    2021-08-01 0 days 1,850 sqft
    2021-09-01 0 days 1,865 sqft
    2021-10-01 0 days 1,880 sqft
    2021-11-01 0 days 1,807 sqft
    2021-12-01 0 days 1,801 sqft
    2022-01-01 0 days 1,932 sqft
    2022-02-01 0 days 2,582 sqft
    2022-03-01 0 days 2,574 sqft
    2022-04-01 0 days 1,560 sqft
    2022-05-01 0 days 1,627 sqft
    2022-06-01 0 days 1,683 sqft
    2022-07-01 0 days 1,525 sqft
    2022-08-01 0 days 1,658 sqft
    2022-09-01 0 days 1,671 sqft
    2022-10-01 0 days 1,570 sqft
    2022-11-01 0 days 1,555 sqft
    2022-12-01 0 days 1,550 sqft
    2023-01-01 0 days 1,966 sqft
    2023-02-01 0 days 1,689 sqft
    2023-03-01 0 days 1,550 sqft
    2023-04-01 0 days 1,753 sqft
    2023-05-01 0 days 1,735 sqft
    2023-06-01 0 days 1,651 sqft
    2023-07-01 0 days 1,609 sqft
    2023-08-01 0 days 1,670 sqft
    2023-09-01 0 days 1,897 sqft
    2023-10-01 0 days 1,613 sqft
    2023-11-01 0 days 1,667 sqft
    2023-12-01 0 days 1,651 sqft
    2024-01-01 0 days 1,756 sqft
    2024-02-01 0 days 2,056 sqft
    2024-03-01 0 days 1,780 sqft
    Wauchula's median listing age (time on market) for 2024-03-01 was 0 days.

    Wauchula's median square footage for active listings during the 2024-03-01 period was 1,780 sqft. One year prior, the average listing was 1,550 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).