Wilmington FHA Loan Rates, Closing Costs & Stats

Wilmington, 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.

    Wilmington's 46 lenders originated 178 FHA loans during 2024. The total origination value was $37,550,000, with an average FHA loan value of $210,955.

    Wilmington FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Wilmington averaged 6.44% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Wilmington's average FHA mortgage closing costs are $7,122.

    The average rate for the prior week (2025-03-28) was 6.64% and one month ago for the week of 2025-02-28, the average rate was 6.82%.

    The average rate one year ago was 6.84%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.36%.

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

    Wilmington 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 Wilmington level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    LOANDEPOT.COM, LLC 41 6.75% $8,782
    QUICKEN LOANS, LLC 13 6.57% $8,340
    UNITED WHOLESALE MORTGAGE, LLC 11 6.45% $10,623
    DAS Acquisition Company, LLC 7 6.66% $12,043
    NEWREZ LLC 7 6.93% $11,850
    CROSSCOUNTRY MORTGAGE, LLC 7 7.09% $9,847
    DHI MORTGAGE COMPANY, LTD. 6 4.48% $14,185
    1st National Bank 4 6.94% $5,979
    HOMESIDE FINANCIAL, LLC 4 6.53% $12,299
    FREEDOM MORTGAGE CORPORATION 4 6.44% $11,083
    Equity Prime Mortgage LLC 3 6.88% $12,919
    Union Savings Bank 3 6.00% $6,284
    The Huntington National Bank 2 6.94% $7,338
    BROKER SOLUTIONS, INC. 2 6.88% $12,531
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.25% $17,644
    FIRST COMMUNITY MORTGAGE, INC. 2 6.50% $11,853
    Gateway First Bank 2 6.25% $9,965
    Paramount Residential Mortgage Group, Inc. 2 7.19% $11,916
    PENNYMAC LOAN SERVICES, LLC 2 6.94% $6,259
    Prosperity Home Mortgage, LLC 2 6.69% $7,210
    RAPID MORTGAGE COMPANY 2 6.88% $6,631
    UNION HOME MORTGAGE CORP. 2 6.88% $12,722
    LEADERONE FINANCIAL CORPORATION 1 6.75% $7,425
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.13% $12,074
    MICHIGAN MUTUAL, INC. 1 7.25% $10,827
    MID AMERICA MORTGAGE, INC. 1 7.25% $2,669
    Mortgage Research Center, LLC 1 6.25% $4,504
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $8,837
    NATIONS RELIABLE LENDING, LLC 1 5.75% $10,795
    Bank of England 1 7.00% $10,652
    NFM, INC. 1 6.63% $23,748
    VILLAGE CAPITAL MORTGAGE 1 7.25% $4,594
    American Mortgage & Equity Consultants, Inc. 1 7.13% $13,339
    Peoples Bank 1 6.63% $3,676
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.13% $9,399
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $17,125
    U.S. Bank 1 6.99% $7,452
    RUOFF MORTGAGE COMPANY, INC. 1 7.00% $6,283
    S1L, Inc. 1 7.25% $15,393
    SIBCY CLINE MORTGAGE SERVICES, INC. 1 7.25% $8,162
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.63% $9,689
    GUARANTEED RATE, INC. 1 6.63% $8,221
    Guardian Savings Bank, A Federal Savings Bank 1 6.25% $5,935
    Fifth Third Bank 1 6.75% $5,289
    J. VIRGIL, INC. 1 7.13% $9,533
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $6,028

    The top Wilmington FHA lender as defined by loan originations is LOANDEPOT.COM, LLC, with 41 FHA loans originated. Their average total fees are $8,782, which is $442 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Wilmington FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,340), LOANDEPOT.COM, LLC ($8,782), UNITED WHOLESALE MORTGAGE, LLC ($10,623), .

    The lowest rate Wilmington FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.45%), QUICKEN LOANS, LLC (6.57%), LOANDEPOT.COM, LLC (6.75%), .

    Wilmington FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Wilmington (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 $127,050 (12.9%) $172,297 (-9.9%) 0.00 102
    2018-02-01 $129,700 (3.8%) $181,121 (-12.7%) 0.00 99
    2018-03-01 $129,000 (7.6%) $189,042 (-9.7%) 0.00 91
    2018-04-01 $142,200 (9.8%) $197,528 (-5.3%) 0.00 93
    2018-05-01 $132,425 (1.9%) $198,063 (-3.2%) 0.00 89
    2018-06-01 $149,500 (13.5%) $208,000 (2.7%) 0.00 107
    2018-07-01 $130,600 (0.5%) $196,593 (-1.4%) 0.00 118
    2018-08-01 $129,363 (1.3%) $193,326 (-1.2%) 0.00 123
    2018-09-01 $129,900 (0.7%) $184,578 (-5.2%) 0.00 134
    2018-10-01 $137,000 (9.7%) $192,085 (-1.0%) 0.00 127
    2018-11-01 $139,350 (14.6%) $176,081 (-10.2%) 0.00 121
    2018-12-01 $139,000 (14.9%) $188,616 (-3.7%) 0.00 111
    2019-01-01 $139,200 (9.6%) $198,444 (15.2%) 0.00 91
    2019-02-01 $132,500 (2.2%) $187,784 (3.7%) 0.00 84
    2019-03-01 $126,464 (-2.0%) $195,739 (3.5%) 0.00 78
    2019-04-01 $134,589 (-5.4%) $209,746 (6.2%) 0.00 79
    2019-05-01 $138,700 (4.7%) $207,700 (4.9%) 0.00 86
    2019-06-01 $152,250 (1.8%) $191,607 (-7.9%) 0.00 92
    2019-07-01 $173,675 (33.0%) $203,607 (3.6%) 0.00 92
    2019-08-01 $169,623 (31.1%) $206,292 (6.7%) 0.00 101
    2019-09-01 $158,557 (22.1%) $202,684 (9.8%) 0.00 107
    2019-10-01 $155,580 (13.6%) $202,255 (5.3%) 0.00 110
    2019-11-01 $152,267 (9.3%) $192,302 (9.2%) 0.00 102
    2019-12-01 $139,900 (0.7%) $180,722 (-4.2%) 0.00 94
    2020-01-01 $139,900 (0.5%) $176,214 (-11.2%) 0.00 86
    2020-02-01 $134,900 (1.8%) $170,217 (-9.4%) 0.00 70
    2020-03-01 $141,950 (12.3%) $195,217 (-0.3%) 0.00 68
    2020-04-01 $182,875 (35.9%) $205,561 (-2.0%) 0.00 63
    2020-05-01 $179,900 (29.7%) $208,094 (0.2%) 0.00 50
    2020-06-01 $222,375 (46.1%) $300,435 (56.8%) 0.00 43
    2020-07-01 $250,200 (44.1%) $330,484 (62.3%) 0.00 34
    2020-08-01 $205,000 (20.9%) $288,890 (40.0%) 0.00 41
    2020-09-01 $181,350 (14.4%) $263,680 (30.1%) 0.00 42
    2020-10-01 $175,000 (12.5%) $256,306 (26.7%) 0.00 44
    2020-11-01 $179,500 (17.9%) $273,251 (42.1%) 0.00 38
    2020-12-01 $179,500 (28.3%) $278,542 (54.1%) 0.00 37
    2021-01-01 $193,750 (38.5%) $313,758 (78.1%) 0.00 24
    2021-02-01 $225,000 (66.8%) $367,302 (115.8%) 0.00 22
    2021-03-01 $135,625 (-4.5%) $318,185 (63.0%) 0.00 25
    2021-04-01 $160,925 (-12.0%) $343,929 (67.3%) 0.00 28
    2021-05-01 $174,450 (-3.0%) $247,797 (19.1%) 0.00 31
    2021-06-01 $164,950 (-25.8%) $240,281 (-20.0%) 0.00 26
    2021-07-01 $174,900 (-30.1%) $226,528 (-31.5%) 0.00 42
    2021-08-01 $176,050 (-14.1%) $200,368 (-30.6%) 0.00 49
    2021-09-01 $192,450 (6.1%) $223,318 (-15.3%) 0.00 58
    2021-10-01 $182,450 (4.3%) $213,653 (-16.6%) 0.00 61
    2021-11-01 $188,625 (5.1%) $210,940 (-22.8%) 0.00 51
    2021-12-01 $208,550 (16.2%) $235,052 (-15.6%) 0.00 37
    2022-01-01 $200,000 (3.2%) $232,389 (-25.9%) 0.00 30
    2022-02-01 $209,750 (-6.8%) $263,152 (-28.4%) 0.00 31
    2022-03-01 $185,000 (36.4%) $263,585 (-17.2%) 0.00 37
    2022-04-01 $207,250 (28.8%) $270,236 (-21.4%) 0.00 39
    2022-05-01 $233,425 (33.8%) $311,765 (25.8%) 0.00 43
    2022-06-01 $202,125 (22.5%) $276,826 (15.2%) 0.00 53
    2022-07-01 $215,450 (23.2%) $275,756 (21.7%) 0.00 71
    2022-08-01 $215,675 (22.5%) $267,745 (33.6%) 0.00 68
    2022-09-01 $224,900 (16.9%) $261,582 (17.1%) 0.00 63
    2022-10-01 $249,800 (36.9%) $266,851 (24.9%) 0.00 62
    2022-11-01 $238,625 (26.5%) $256,489 (21.6%) 0.00 65
    2022-12-01 $216,500 (3.8%) $250,082 (6.4%) 0.00 68
    2023-01-01 $236,750 (18.4%) $251,991 (8.4%) 0.00 52
    2023-02-01 $247,450 (18.0%) $262,333 (-0.3%) 0.00 52
    2023-03-01 $263,325 (42.3%) $261,944 (-0.6%) 0.00 43
    2023-04-01 $195,000 (-5.9%) $245,123 (-9.3%) 0.00 48
    2023-05-01 $197,475 (-15.4%) $241,632 (-22.5%) 0.00 38
    2023-06-01 $242,475 (20.0%) $303,019 (9.5%) 0.00 45
    2023-07-01 $264,950 (23.0%) $326,430 (18.4%) 0.00 51
    2023-08-01 $244,000 (13.1%) $284,361 (6.2%) 0.00 55
    2023-09-01 $240,000 (6.7%) $276,872 (5.9%) 0.00 63
    2023-10-01 $240,000 (-3.9%) $289,519 (8.5%) 0.00 71
    2023-11-01 $246,950 (3.5%) $301,018 (17.4%) 0.00 75
    2023-12-01 $239,500 (10.6%) $278,410 (11.3%) 0.00 70
    2024-01-01 $239,750 (1.3%) $288,384 (14.4%) 0.00 58
    2024-02-01 $262,100 (5.9%) $321,486 (22.6%) 0.00 46
    2024-03-01 $242,450 (-7.9%) $354,877 (35.5%) 0.00 43
    2024-04-01 $257,191 (31.9%) $390,051 (59.1%) 0.00 37
    2024-05-01 $282,858 (43.2%) $395,814 (63.8%) 0.00 50
    2024-06-01 $277,450 (14.4%) $367,665 (21.3%) 0.00 72
    2024-07-01 $263,700 (-0.5%) $331,583 (1.6%) 0.00 77
    2024-08-01 $260,000 (6.6%) $340,589 (19.8%) 0.00 78
    2024-09-01 $260,000 (8.3%) $344,394 (24.4%) 0.00 99
    2024-10-01 $257,450 (7.3%) $330,820 (14.3%) 0.00 97
    2024-11-01 $249,900 (1.2%) $297,392 (-1.2%) 0.00 90
    2024-12-01 $242,200 (1.1%) $271,026 (-2.7%) 0.00 75
    2025-01-01 $249,000 (3.9%) $281,248 (-2.5%) 0.00 67
    2025-02-01 $259,925 (-0.8%) $293,997 (-8.6%) 0.00 56
    2025-03-01 $271,950 (12.2%) $283,846 (-20.0%) 0.00 49
    Wilmington's median listing price for 2025-03-01 was $271,950, a difference of $29,500 (12.2%) versus the prior year and $12,025 versus the prior month.

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

    Wilmington's average listing price for 2025-03-01 was $283,846, a difference of $-71,031 (-20.0%) versus the prior year and $-10,151 versus the prior month.

    For the 2025-03-01 period, Wilmington had 49 MLS listings, a difference of -7 listings (-13%) versus the prior month and 6 listings (14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Wilmington (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,736 sqft
    2018-02-01 0 days 1,747 sqft
    2018-03-01 0 days 1,832 sqft
    2018-04-01 0 days 1,862 sqft
    2018-05-01 0 days 1,821 sqft
    2018-06-01 0 days 1,800 sqft
    2018-07-01 0 days 1,718 sqft
    2018-08-01 0 days 1,677 sqft
    2018-09-01 0 days 1,648 sqft
    2018-10-01 0 days 1,658 sqft
    2018-11-01 0 days 1,671 sqft
    2018-12-01 0 days 1,680 sqft
    2019-01-01 0 days 1,708 sqft
    2019-02-01 0 days 1,672 sqft
    2019-03-01 0 days 1,587 sqft
    2019-04-01 0 days 1,560 sqft
    2019-05-01 0 days 1,724 sqft
    2019-06-01 0 days 1,600 sqft
    2019-07-01 0 days 1,836 sqft
    2019-08-01 0 days 1,827 sqft
    2019-09-01 0 days 1,741 sqft
    2019-10-01 0 days 1,676 sqft
    2019-11-01 0 days 1,652 sqft
    2019-12-01 0 days 1,508 sqft
    2020-01-01 0 days 1,513 sqft
    2020-02-01 0 days 1,495 sqft
    2020-03-01 0 days 1,714 sqft
    2020-04-01 0 days 1,686 sqft
    2020-05-01 0 days 1,728 sqft
    2020-06-01 0 days 1,879 sqft
    2020-07-01 0 days 2,143 sqft
    2020-08-01 0 days 1,887 sqft
    2020-09-01 0 days 1,603 sqft
    2020-10-01 0 days 1,461 sqft
    2020-11-01 0 days 1,415 sqft
    2020-12-01 0 days 1,457 sqft
    2021-01-01 0 days 1,460 sqft
    2021-02-01 0 days 1,647 sqft
    2021-03-01 0 days 1,455 sqft
    2021-04-01 0 days 1,442 sqft
    2021-05-01 0 days 1,528 sqft
    2021-06-01 0 days 1,516 sqft
    2021-07-01 0 days 1,660 sqft
    2021-08-01 0 days 1,513 sqft
    2021-09-01 0 days 1,578 sqft
    2021-10-01 0 days 1,629 sqft
    2021-11-01 0 days 1,782 sqft
    2021-12-01 0 days 1,650 sqft
    2022-01-01 0 days 1,608 sqft
    2022-02-01 0 days 1,910 sqft
    2022-03-01 0 days 1,391 sqft
    2022-04-01 0 days 1,568 sqft
    2022-05-01 0 days 1,792 sqft
    2022-06-01 0 days 1,685 sqft
    2022-07-01 0 days 1,630 sqft
    2022-08-01 0 days 1,544 sqft
    2022-09-01 0 days 1,653 sqft
    2022-10-01 0 days 1,708 sqft
    2022-11-01 0 days 1,776 sqft
    2022-12-01 0 days 1,591 sqft
    2023-01-01 0 days 1,660 sqft
    2023-02-01 0 days 1,715 sqft
    2023-03-01 0 days 1,567 sqft
    2023-04-01 0 days 1,526 sqft
    2023-05-01 0 days 1,578 sqft
    2023-06-01 0 days 1,718 sqft
    2023-07-01 0 days 1,729 sqft
    2023-08-01 0 days 1,598 sqft
    2023-09-01 0 days 1,582 sqft
    2023-10-01 0 days 1,700 sqft
    2023-11-01 0 days 1,724 sqft
    2023-12-01 0 days 1,623 sqft
    2024-01-01 0 days 1,533 sqft
    2024-02-01 0 days 1,666 sqft
    2024-03-01 0 days 1,718 sqft
    2024-04-01 0 days 1,770 sqft
    2024-05-01 0 days 1,804 sqft
    2024-06-01 0 days 1,698 sqft
    2024-07-01 0 days 1,724 sqft
    2024-08-01 0 days 1,680 sqft
    2024-09-01 0 days 1,750 sqft
    2024-10-01 0 days 1,725 sqft
    2024-11-01 0 days 1,721 sqft
    2024-12-01 0 days 1,644 sqft
    2025-01-01 0 days 1,673 sqft
    2025-02-01 0 days 1,686 sqft
    2025-03-01 0 days 1,782 sqft
    Wilmington's median listing age (time on market) for 2025-03-01 was 0 days.

    Wilmington's median square footage for active listings during the 2025-03-01 period was 1,782 sqft. One year prior, the average listing was 1,718 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).