Wooster FHA Loan Rates, Closing Costs & Stats
Wooster, OH
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.
Wooster's 53 lenders originated 206 FHA loans during 2023. The total origination value was $40,880,000, with an average FHA loan value of $198,447.
Wooster FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Wooster
averaged
6.59%
for the week of 2024-12-06, compared to the national average (all FHA variants) of
6.363% for the same period.
Wooster's average FHA mortgage closing costs are $6,889.
The average rate for the prior week (2024-11-29) was
6.63% and
one month ago for the week of 2024-11-01, the
average rate was 6.43%.
The average rate one year ago was 6.95%.
For refis of the same type during the week of 2024-12-06, the average rate
was 7.03%.
Wooster 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 Wooster level.
The top Wooster FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with
45 FHA loans originated. Their average total fees are
$9,820, which is $215
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Wooster FHA lenders (with over 10 loans originated) are
CROSSCOUNTRY MORTGAGE, LLC ($9,820), QUICKEN LOANS, LLC ($10,035), .
The lowest rate Wooster FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.12%), CROSSCOUNTRY MORTGAGE, LLC (7.05%), .
Wooster FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
WOOSTER, OH | WAYNE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
WOOSTER, OH | WAYNE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Wooster (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $162,814 (25.8%) | $203,638 (18.3%) | 0.00 | 158 |
2018-02-01 | $162,225 (20.2%) | $210,323 (14.9%) | 0.00 | 151 |
2018-03-01 | $159,950 (16.3%) | $220,631 (17.0%) | 0.00 | 157 |
2018-04-01 | $163,200 (16.6%) | $214,410 (14.9%) | 0.00 | 155 |
2018-05-01 | $159,900 (13.8%) | $212,455 (15.6%) | 0.00 | 171 |
2018-06-01 | $166,250 (16.3%) | $221,145 (19.5%) | 0.00 | 185 |
2018-07-01 | $164,950 (17.9%) | $225,297 (23.6%) | 0.00 | 187 |
2018-08-01 | $167,625 (11.8%) | $216,148 (13.2%) | 0.00 | 224 |
2018-09-01 | $165,000 (10.8%) | $213,982 (10.7%) | 0.00 | 215 |
2018-10-01 | $168,548 (12.9%) | $214,069 (10.2%) | 0.00 | 218 |
2018-11-01 | $173,425 (10.2%) | $214,443 (9.1%) | 0.00 | 209 |
2018-12-01 | $179,900 (14.1%) | $223,546 (15.2%) | 0.00 | 191 |
2019-01-01 | $179,900 (10.5%) | $226,544 (11.3%) | 0.00 | 171 |
2019-02-01 | $179,900 (10.9%) | $230,964 (9.8%) | 0.00 | 149 |
2019-03-01 | $195,400 (22.2%) | $237,663 (7.7%) | 0.00 | 145 |
2019-04-01 | $213,484 (30.8%) | $241,968 (12.9%) | 0.00 | 142 |
2019-05-01 | $175,000 (9.4%) | $219,350 (3.3%) | 0.00 | 152 |
2019-06-01 | $184,950 (11.3%) | $234,367 (6.0%) | 0.00 | 157 |
2019-07-01 | $180,250 (9.3%) | $231,681 (2.8%) | 0.00 | 173 |
2019-08-01 | $185,318 (10.6%) | $228,965 (5.9%) | 0.00 | 177 |
2019-09-01 | $179,795 (9.0%) | $221,190 (3.4%) | 0.00 | 175 |
2019-10-01 | $176,114 (4.5%) | $214,846 (0.4%) | 0.00 | 174 |
2019-11-01 | $175,500 (1.2%) | $213,839 (-0.3%) | 0.00 | 160 |
2019-12-01 | $171,175 (-4.9%) | $207,622 (-7.1%) | 0.00 | 155 |
2020-01-01 | $172,550 (-4.1%) | $211,060 (-6.8%) | 0.00 | 140 |
2020-02-01 | $165,000 (-8.3%) | $208,272 (-9.8%) | 0.00 | 128 |
2020-03-01 | $161,450 (-17.4%) | $206,598 (-13.1%) | 0.00 | 126 |
2020-04-01 | $167,400 (-21.6%) | $207,756 (-14.1%) | 0.00 | 110 |
2020-05-01 | $162,900 (-6.9%) | $208,617 (-4.9%) | 0.00 | 95 |
2020-06-01 | $186,225 (0.7%) | $231,493 (-1.2%) | 0.00 | 98 |
2020-07-01 | $202,150 (12.2%) | $234,486 (1.2%) | 0.00 | 97 |
2020-08-01 | $205,000 (10.6%) | $227,265 (-0.7%) | 0.00 | 100 |
2020-09-01 | $208,350 (15.9%) | $244,402 (10.5%) | 0.00 | 116 |
2020-10-01 | $189,950 (7.9%) | $233,895 (8.9%) | 0.00 | 108 |
2020-11-01 | $183,650 (4.6%) | $228,706 (7.0%) | 0.00 | 96 |
2020-12-01 | $178,450 (4.3%) | $224,607 (8.2%) | 0.00 | 94 |
2021-01-01 | $166,950 (-3.3%) | $228,294 (8.2%) | 0.00 | 82 |
2021-02-01 | $194,700 (18.0%) | $253,736 (21.8%) | 0.00 | 63 |
2021-03-01 | $182,000 (12.7%) | $244,353 (18.3%) | 0.00 | 49 |
2021-04-01 | $199,950 (19.4%) | $253,647 (22.1%) | 0.00 | 51 |
2021-05-01 | $200,000 (22.8%) | $246,102 (18.0%) | 0.00 | 59 |
2021-06-01 | $199,975 (7.4%) | $233,334 (0.8%) | 0.00 | 66 |
2021-07-01 | $215,000 (6.4%) | $277,038 (18.2%) | 0.00 | 82 |
2021-08-01 | $197,225 (-3.8%) | $266,286 (17.2%) | 0.00 | 82 |
2021-09-01 | $193,450 (-7.2%) | $277,942 (13.7%) | 0.00 | 73 |
2021-10-01 | $199,900 (5.2%) | $270,703 (15.7%) | 0.00 | 80 |
2021-11-01 | $199,000 (8.4%) | $277,944 (21.5%) | 0.00 | 75 |
2021-12-01 | $199,925 (12.0%) | $279,629 (24.5%) | 0.00 | 59 |
2022-01-01 | $229,000 (37.2%) | $235,116 (3.0%) | 0.00 | 72 |
2022-02-01 | $224,000 (15.1%) | $264,947 (4.4%) | 0.00 | 52 |
2022-03-01 | $221,465 (21.7%) | $290,512 (18.9%) | 0.00 | 47 |
2022-04-01 | $210,000 (5.0%) | $269,803 (6.4%) | 0.00 | 54 |
2022-05-01 | $223,575 (11.8%) | $271,330 (10.3%) | 0.00 | 62 |
2022-06-01 | $260,000 (30.0%) | $277,387 (18.9%) | 0.00 | 73 |
2022-07-01 | $255,900 (19.0%) | $285,521 (3.1%) | 0.00 | 83 |
2022-08-01 | $253,925 (28.8%) | $285,278 (7.1%) | 0.00 | 92 |
2022-09-01 | $229,500 (18.6%) | $270,011 (-2.9%) | 0.00 | 87 |
2022-10-01 | $223,700 (11.9%) | $261,140 (-3.5%) | 0.00 | 95 |
2022-11-01 | $235,000 (18.1%) | $272,186 (-2.1%) | 0.00 | 89 |
2022-12-01 | $225,000 (12.5%) | $258,585 (-7.5%) | 0.00 | 83 |
2023-01-01 | $229,600 (0.3%) | $265,189 (12.8%) | 0.00 | 71 |
2023-02-01 | $244,950 (9.4%) | $267,582 (1.0%) | 0.00 | 73 |
2023-03-01 | $256,225 (15.7%) | $273,908 (-5.7%) | 0.00 | 76 |
2023-04-01 | $239,450 (14.0%) | $253,114 (-6.2%) | 0.00 | 71 |
2023-05-01 | $251,700 (12.6%) | $267,750 (-1.3%) | 0.00 | 70 |
2023-06-01 | $267,950 (3.1%) | $280,878 (1.3%) | 0.00 | 80 |
2023-07-01 | $280,000 (9.4%) | $306,102 (7.2%) | 0.00 | 87 |
2023-08-01 | $287,500 (13.2%) | $304,869 (6.9%) | 0.00 | 99 |
2023-09-01 | $275,000 (19.8%) | $292,560 (8.4%) | 0.00 | 107 |
2023-10-01 | $267,450 (19.6%) | $294,824 (12.9%) | 0.00 | 124 |
2023-11-01 | $279,950 (19.1%) | $322,426 (18.5%) | 0.00 | 122 |
2023-12-01 | $277,450 (23.3%) | $334,022 (29.2%) | 0.00 | 109 |
2024-01-01 | $285,000 (24.1%) | $343,089 (29.4%) | 0.00 | 81 |
2024-02-01 | $299,000 (22.1%) | $366,167 (36.8%) | 0.00 | 64 |
2024-03-01 | $282,500 (10.3%) | $367,231 (34.1%) | 0.00 | 57 |
2024-04-01 | $286,225 (19.5%) | $361,022 (42.6%) | 0.00 | 63 |
2024-05-01 | $342,450 (36.1%) | $418,738 (56.4%) | 0.00 | 68 |
2024-06-01 | $324,500 (21.1%) | $379,158 (35.0%) | 0.00 | 91 |
2024-07-01 | $307,450 (9.8%) | $337,154 (10.1%) | 0.00 | 106 |
2024-08-01 | $295,000 (2.6%) | $320,035 (5.0%) | 0.00 | 98 |
2024-09-01 | $281,000 (2.2%) | $308,388 (5.4%) | 0.00 | 106 |
2024-10-01 | $272,975 (2.1%) | $298,624 (1.3%) | 0.00 | 123 |
2024-11-01 | $274,900 (-1.8%) | $300,125 (-6.9%) | 0.00 | 128 |
Wooster's median listing price comes in at 0% of the national average.
Wooster's average listing price for 2024-11-01 was $300,125, a difference of $-22,301 (-6.9%) versus the prior year and $1,501 versus the prior month.
For the 2024-11-01 period, Wooster had 128 MLS listings, a difference of 5 listings (4%) versus the prior month and 6 listings (5%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Wooster (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,464 sqft |
2018-02-01 | 0 days | 1,460 sqft |
2018-03-01 | 0 days | 1,456 sqft |
2018-04-01 | 0 days | 1,488 sqft |
2018-05-01 | 0 days | 1,500 sqft |
2018-06-01 | 0 days | 1,528 sqft |
2018-07-01 | 0 days | 1,783 sqft |
2018-08-01 | 0 days | 1,773 sqft |
2018-09-01 | 0 days | 1,822 sqft |
2018-10-01 | 0 days | 1,822 sqft |
2018-11-01 | 0 days | 1,802 sqft |
2018-12-01 | 0 days | 1,864 sqft |
2019-01-01 | 0 days | 1,778 sqft |
2019-02-01 | 0 days | 1,688 sqft |
2019-03-01 | 0 days | 1,697 sqft |
2019-04-01 | 0 days | 1,732 sqft |
2019-05-01 | 0 days | 1,577 sqft |
2019-06-01 | 0 days | 1,670 sqft |
2019-07-01 | 0 days | 1,617 sqft |
2019-08-01 | 0 days | 1,645 sqft |
2019-09-01 | 0 days | 1,685 sqft |
2019-10-01 | 0 days | 1,712 sqft |
2019-11-01 | 0 days | 1,676 sqft |
2019-12-01 | 0 days | 1,672 sqft |
2020-01-01 | 0 days | 1,639 sqft |
2020-02-01 | 0 days | 1,617 sqft |
2020-03-01 | 0 days | 1,626 sqft |
2020-04-01 | 0 days | 1,612 sqft |
2020-05-01 | 0 days | 1,698 sqft |
2020-06-01 | 0 days | 1,695 sqft |
2020-07-01 | 0 days | 1,719 sqft |
2020-08-01 | 0 days | 1,724 sqft |
2020-09-01 | 0 days | 1,750 sqft |
2020-10-01 | 0 days | 1,746 sqft |
2020-11-01 | 0 days | 1,700 sqft |
2020-12-01 | 0 days | 1,712 sqft |
2021-01-01 | 0 days | 1,665 sqft |
2021-02-01 | 0 days | 1,628 sqft |
2021-03-01 | 0 days | 1,615 sqft |
2021-04-01 | 0 days | 1,626 sqft |
2021-05-01 | 0 days | 1,580 sqft |
2021-06-01 | 0 days | 1,592 sqft |
2021-07-01 | 0 days | 1,718 sqft |
2021-08-01 | 0 days | 1,645 sqft |
2021-09-01 | 0 days | 1,718 sqft |
2021-10-01 | 0 days | 1,731 sqft |
2021-11-01 | 0 days | 1,739 sqft |
2021-12-01 | 0 days | 1,675 sqft |
2022-01-01 | 0 days | 1,620 sqft |
2022-02-01 | 0 days | 1,620 sqft |
2022-03-01 | 0 days | 1,713 sqft |
2022-04-01 | 0 days | 1,743 sqft |
2022-05-01 | 0 days | 1,747 sqft |
2022-06-01 | 0 days | 1,867 sqft |
2022-07-01 | 0 days | 1,966 sqft |
2022-08-01 | 0 days | 2,005 sqft |
2022-09-01 | 0 days | 1,809 sqft |
2022-10-01 | 0 days | 1,776 sqft |
2022-11-01 | 0 days | 1,823 sqft |
2022-12-01 | 0 days | 1,672 sqft |
2023-01-01 | 0 days | 1,775 sqft |
2023-02-01 | 0 days | 1,793 sqft |
2023-03-01 | 0 days | 1,967 sqft |
2023-04-01 | 0 days | 1,881 sqft |
2023-05-01 | 0 days | 1,899 sqft |
2023-06-01 | 0 days | 1,891 sqft |
2023-07-01 | 0 days | 2,013 sqft |
2023-08-01 | 0 days | 2,026 sqft |
2023-09-01 | 0 days | 1,942 sqft |
2023-10-01 | 0 days | 1,932 sqft |
2023-11-01 | 0 days | 1,907 sqft |
2023-12-01 | 0 days | 1,884 sqft |
2024-01-01 | 0 days | 1,867 sqft |
2024-02-01 | 0 days | 1,929 sqft |
2024-03-01 | 0 days | 2,017 sqft |
2024-04-01 | 0 days | 1,857 sqft |
2024-05-01 | 0 days | 2,143 sqft |
2024-06-01 | 0 days | 1,998 sqft |
2024-07-01 | 0 days | 1,819 sqft |
2024-08-01 | 0 days | 1,749 sqft |
2024-09-01 | 0 days | 1,780 sqft |
2024-10-01 | 0 days | 1,734 sqft |
2024-11-01 | 0 days | 1,737 sqft |
Wooster's median square footage for active listings during the 2024-11-01 period was 1,737 sqft. One year prior, the average listing was 1,907 sqft.