Winchester FHA Loan Rates, Closing Costs & Stats

WINCHESTER, VA-WV

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).