Winchester FHA Loan Rates, Closing Costs & Stats

WINCHESTER, VA-WV

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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.

    Winchester's 98 lenders originated 568 FHA loans during 2024. The total origination value was $181,840,000, with an average FHA loan value of $320,141.

    Winchester FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Winchester averaged 0.29% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Winchester's average FHA mortgage closing costs are $9,396.

    The average rate for the prior week (2025-06-27) was 6.38% and one month ago for the week of 2025-05-30, the average rate was 6.65%.

    The average rate one year ago was 6.97%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.39%.

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

    Winchester 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 Winchester level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 30 6.31% $12,548
    HOMESPIRE MORTGAGE CORPORATION 25 6.44% $11,465
    UNITED WHOLESALE MORTGAGE, LLC 24 6.17% $16,065
    DHI MORTGAGE COMPANY, LTD. 21 5.25% $11,241
    Integrity Home Mortgage Corp 20 6.49% $13,351
    GSF Mortgage Corporation 20 6.53% $13,098
    LOANDEPOT.COM, LLC 18 6.16% $13,603
    HOMEAMERICAN MORTGAGE CORPORATION 17 4.96% $9,628
    City Lending Inc. 16 6.78% $15,927
    INTERCOASTAL MORTGAGE COMPANY 16 6.05% $13,634
    NVR Mortgage Finance, Inc. 16 6.17% $14,412
    FREEDOM MORTGAGE CORPORATION 14 6.46% $15,026
    GUILD MORTGAGE COMPANY 13 6.34% $14,370
    TIDEWATER MORTGAGE SERVICES, INC. 12 6.50% $10,739
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 6.40% $12,447
    PENNYMAC LOAN SERVICES, LLC 10 5.96% $11,757
    HOMESIDE FINANCIAL, LLC 9 6.78% $13,463
    NFM, INC. 9 6.93% $15,028
    BROKER SOLUTIONS, INC. 9 7.07% $11,277
    Prosperity Home Mortgage, LLC 9 6.15% $12,792
    Atlantic Coast Mortgage, LLC 8 6.42% $11,958
    Vellum Mortgage, Inc. 8 6.47% $14,258
    MUTUAL OF OMAHA MORTGAGE, INC. 8 6.84% $13,118
    Alcova Mortgage LLC 7 6.68% $9,142
    MOVEMENT MORTGAGE, LLC 7 6.61% $14,480
    NEWREZ LLC 7 6.30% $11,987
    First Heritage Mortgage, LLC 6 6.58% $10,738
    LAKEVIEW LOAN SERVICING, LLC 6 6.31% $9,686
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.20% $10,524
    CMG MORTGAGE, INC. 5 6.45% $10,849
    EVERETT FINANCIAL, INC. 5 6.78% $10,159
    Mr. Cooper ( Nationstar Mortgage ) 5 6.20% $16,557
    CROSSCOUNTRY MORTGAGE, LLC 5 6.43% $12,576
    Carrington Mortgage Services, LLC 4 6.63% $11,406
    UNION HOME MORTGAGE CORP. 4 6.44% $13,451
    MILEND, INC. 4 6.47% $15,721
    EMBRACE HOME LOANS, INC. 4 5.87% $13,315
    MILLENNIUM FINANCIAL GROUP, INC. 4 6.84% $7,784
    Paramount Residential Mortgage Group, Inc. 3 5.79% $17,334
    OCMBC, INC. 3 6.58% $15,446
    Waterstone Mortgage Corporation 3 6.46% $17,875
    EAGLE HOME MORTGAGE, LLC 3 5.33% $14,712
    FIDELITY DIRECT MORTGAGE, LLC 3 6.38% $15,092
    Century Mortgage Company DBA Century Lending Company 3 6.25% $10,211
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.67% $10,101
    ZILLOW HOME LOANS, LLC 2 5.75% $13,240
    AMERICAN FINANCIAL NETWORK, INC. 2 6.13% $15,562
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.31% $9,196
    CANOPY MORTGAGE, LLC 2 6.75% $17,589
    CARDINAL FINANCIAL 2 6.75% $12,521
    CHURCHILL MORTGAGE CORPORATION 2 6.44% $15,617
    FIRST SAVINGS MORTGAGE CORPORATION 2 6.56% $13,895
    Flagstar Bank, FSB 2 6.38% $10,015
    INTELLILOAN, INC. 2 5.88% $12,321
    Lakeview Community Capital, LLC 2 6.44% $7,801
    LOANPAL, LLC 2 5.94% $16,679
    MORTGAGE ACCESS CORP. 2 6.88% $12,746
    PLAZA HOME MORTGAGE, INC. 2 7.25% $9,564
    RELIANCE FIRST CAPITAL, LLC 2 6.63% $12,543
    SUN WEST MORTGAGE COMPANY, INC. 2 6.06% $17,076
    Truist 2 6.25% $11,168
    VILLAGE CAPITAL MORTGAGE 2 6.44% $4,475
    Mortgage Research Center, LLC 1 7.25% $8,115
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $19,258
    JPMorgan Chase Bank 1 7.25% $5,564
    Home Mortgage Alliance Corp 1 7.13% $17,817
    M&T Bank 1 6.13% $12,764
    GUARANTEED RATE, INC. 1 6.63% $10,659
    NATIONS DIRECT MORTGAGE, LLC 1 6.13% $23,814
    Nations Lending Corporation 1 6.25% $7,243
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $9,207
    Fulton Bank 1 6.00% $9,576
    First National Bank of Pennsylvania 1 6.50% $9,901
    FIRST HOME MORTGAGE CORPORATION 1 6.75% $11,744
    Equity Prime Mortgage LLC 1 6.25% $10,508
    Citizens Bank 1 6.88% $10,472
    ARC HOME LLC 1 6.63% $22,688
    Presidential Bank, FSB 1 6.25% $9,977
    Blue Ridge Bank 1 6.13% $5,953
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.50% $18,487
    Atlantic Union Bank 1 6.00% $14,266
    AmeriHome Mortgage Company, LLC 1 5.99% $7,722
    ROYAL UNITED MORTGAGE LLC 1 6.25% $10,848
    RUOFF MORTGAGE COMPANY, INC. 1 5.75% $9,911
    Shea Mortgage Inc. 1 6.00% $7,962
    Shore United Bank 1 6.13% $10,590
    Sierra Pacific Mortgage Company, Inc. 1 5.99% $15,471
    American Mortgage & Equity Consultants, Inc. 1 7.00% $16,072
    THE MORTGAGE LINK, INC. 1 7.25% $19,831
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.25% $20,446
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.63% $16,311
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $10,577
    Mid-Continent Funding, Inc. 1 6.88% $11,791
    MICHIGAN MUTUAL, INC. 1 5.75% $10,446
    Loan Simple, Inc. 1 6.25% $19,042
    MLD MORTGAGE INC. 1 5.75% $8,656
    MORIA DEVELOPMENT, INC. 1 5.75% $10,459
    United Bank 1 6.25% $9,555

    The top Winchester FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 30 FHA loans originated. Their average total fees are $12,548, which is $1,083 higher than the next largest lender, HOMESPIRE MORTGAGE CORPORATION.

    The lowest fee Winchester FHA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION ($9,628), TIDEWATER MORTGAGE SERVICES, INC. ($10,739), DHI MORTGAGE COMPANY, LTD. ($11,241), HOMESPIRE MORTGAGE CORPORATION ($11,465) and PENNYMAC LOAN SERVICES, LLC ($11,757).

    The lowest rate Winchester FHA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION (4.96%), DHI MORTGAGE COMPANY, LTD. (5.25%), PENNYMAC LOAN SERVICES, LLC (5.96%), INTERCOASTAL MORTGAGE COMPANY (6.05%) and LOANDEPOT.COM, LLC (6.16%).

    Winchester FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    WINCHESTER, VA-WV FREDERICK 2022 $420,680 $538,650 $651,050 $809,150
    WINCHESTER, VA-WV WINCHESTER CITY 2022 $420,680 $538,650 $651,050 $809,150
    WINCHESTER, VA-WV HAMPSHIRE 2022 $420,680 $538,650 $651,050 $809,150
    WINCHESTER, VA-WV FREDERICK 2023 $472,030 $604,400 $730,525 $907,900
    WINCHESTER, VA-WV WINCHESTER CITY 2023 $472,030 $604,400 $730,525 $907,900
    WINCHESTER, VA-WV HAMPSHIRE 2023 $472,030 $604,400 $730,525 $907,900

    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).