Aberdeen FHA Loan Rates, Closing Costs & Stats

Aberdeen, WA

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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.

    Aberdeen's 72 lenders originated 293 FHA loans during 2023. The total origination value was $81,755,000, with an average FHA loan value of $279,027.

    Aberdeen FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Aberdeen averaged 7.15% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Aberdeen's average FHA mortgage closing costs are $9,106.

    The average rate for the prior week (2024-04-12) was 6.84% and one month ago for the week of 2024-03-15, the average rate was 6.51%.

    The average rate one year ago was 6.63%.

    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.

    Aberdeen 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 Aberdeen level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 40 6.78% $12,528
    QUICKEN LOANS, LLC 19 6.07% $12,553
    UNITED WHOLESALE MORTGAGE, LLC 18 6.02% $13,793
    AMERICAN PACIFIC MORTGAGE CORPORATION 12 6.41% $12,902
    ACADEMY MORTGAGE CORPORATION 11 6.58% $14,502
    BROKER SOLUTIONS, INC. 9 6.81% $12,370
    NEWREZ LLC 8 6.30% $11,205
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.57% $14,154
    MOVEMENT MORTGAGE, LLC 7 7.45% $14,573
    Paramount Residential Mortgage Group, Inc. 6 6.85% $16,176
    BAY EQUITY LLC 5 6.48% $16,719
    Loan Simple, Inc. 5 6.83% $17,468
    LOANDEPOT.COM, LLC 5 6.59% $10,472
    Flagstar Bank, FSB 5 6.44% $8,268
    CROSSCOUNTRY MORTGAGE, LLC 5 6.66% $13,472
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.81% $6,320
    PENNYMAC LOAN SERVICES, LLC 4 5.53% $18,891
    PREMIER MORTGAGE RESOURCES, L.L.C. 4 6.72% $13,619
    Ixonia Bank 3 7.00% $12,596
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 3 7.42% $9,915
    T2 FINANCIAL LLC 3 7.13% $9,105
    Carrington Mortgage Services, LLC 3 6.46% $13,111
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 7.08% $10,924
    MID AMERICA MORTGAGE, INC. 3 6.75% $5,150
    LEADERONE FINANCIAL CORPORATION 3 6.12% $15,080
    FREEDOM MORTGAGE CORPORATION 2 6.75% $17,910
    CALCON MUTUAL MORTGAGE LLC 2 5.75% $21,930
    CMG MORTGAGE, INC. 2 5.94% $17,076
    GUARANTEED RATE, INC. 2 6.50% $12,619
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.44% $9,462
    MANN FINANCIAL INC. 2 7.13% $8,271
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.00% $15,709
    NOVA FINANCIAL & INVESTMENT CORPORATION 2 6.00% $10,016
    Prosperity Home Mortgage, LLC 2 7.25% $11,126
    U.S. Bank 2 7.31% $10,741
    Wallick & Volk, Inc. 2 7.25% $3,840
    UNION HOME MORTGAGE CORP. 1 7.63% $10,790
    Chickasaw Community Bank 1 6.63% $11,153
    MLD MORTGAGE INC. 1 6.63% $20,914
    Mortgage Research Center, LLC 1 6.99% $5,164
    MOUNTAIN WEST FINANCIAL, INC. 1 7.50% $10,441
    CALIBER HOME LOANS, INC. 1 6.88% $11,108
    Mr. Cooper ( Nationstar Mortgage ) 1 6.00% $12,867
    AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $14,980
    NATIONS DIRECT MORTGAGE, LLC 1 5.75% $13,674
    NETWORK CAPITAL FUNDING CORPORATION 1 5.50% $13,766
    Boeing Employees Credit Union 1 6.25% $9,720
    NFM, INC. 1 7.13% $13,345
    Northpointe Bank 1 6.75% $11,220
    Wells Fargo Bank 1 7.00% $7,032
    ON Q FINANCIAL, INC. 1 6.75% $11,321
    BECKAM FUNDING CORP. 1 7.13% $10,485
    Banner Bank 1 6.63% $12,687
    Bank of the Pacific 1 7.12% $6,082
    AXIA FINANCIAL, LLC 1 6.50% $11,635
    PRIORITY HOME LENDING, LLC 1 6.75% $16,206
    Willamette Valley Bank 1 6.75% $13,903
    AMERISAVE MORTGAGE CORPORATION 1 5.00% $10,569
    RELIANCE FIRST CAPITAL, LLC 1 6.63% $12,954
    Sierra Pacific Mortgage Company, Inc. 1 6.75% $13,975
    SUMMIT FUNDING, INC. 1 6.75% $12,000
    Sunflower Bank 1 4.99% $15,528
    AmeriHome Mortgage Company, LLC 1 7.13% $11,474
    The Federal Savings Bank 1 6.13% $20,571
    TOP FLITE FINANCIAL, INC. 1 7.75% $12,059
    1st Security Bank of Washington 1 7.13% $15,124
    Evolve Bank & Trust 1 8.00% $16,362
    TOTAL MORTGAGE SERVICES, LLC 1 6.75% $11,792
    ENVOY MORTGAGE, LTD 1 7.50% $15,831
    DIRECTORS MORTGAGE, INC. 1 6.75% $15,969
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.63% $15,121
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $14,369

    The top Aberdeen FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 40 FHA loans originated. Their average total fees are $12,528, which is $25 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Aberdeen FHA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($12,528), QUICKEN LOANS, LLC ($12,553), AMERICAN PACIFIC MORTGAGE CORPORATION ($12,902), UNITED WHOLESALE MORTGAGE, LLC ($13,793) and ACADEMY MORTGAGE CORPORATION ($14,502).

    The lowest rate Aberdeen FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.02%), QUICKEN LOANS, LLC (6.07%), AMERICAN PACIFIC MORTGAGE CORPORATION (6.41%), ACADEMY MORTGAGE CORPORATION (6.58%) and GUILD MORTGAGE COMPANY (6.78%).

    Aberdeen FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Aberdeen (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 $209,900 (22.8%) $249,846 (17.3%) 0.00 293
    2018-02-01 $217,625 (21.3%) $258,065 (19.7%) 0.00 286
    2018-03-01 $217,900 (19.4%) $257,528 (16.1%) 0.00 299
    2018-04-01 $217,250 (14.5%) $254,314 (13.4%) 0.00 313
    2018-05-01 $222,475 (14.1%) $253,062 (9.4%) 0.00 329
    2018-06-01 $220,000 (12.8%) $258,524 (12.6%) 0.00 379
    2018-07-01 $222,100 (11.2%) $262,451 (13.3%) 0.00 415
    2018-08-01 $224,450 (12.3%) $268,013 (16.1%) 0.00 415
    2018-09-01 $229,450 (14.7%) $272,843 (15.0%) 0.00 402
    2018-10-01 $233,500 (16.8%) $270,422 (10.6%) 0.00 382
    2018-11-01 $232,500 (15.0%) $264,200 (6.3%) 0.00 359
    2018-12-01 $228,200 (14.2%) $260,684 (6.8%) 0.00 323
    2019-01-01 $229,225 (9.2%) $260,987 (4.5%) 0.00 272
    2019-02-01 $230,750 (6.0%) $265,108 (2.7%) 0.00 275
    2019-03-01 $235,247 (8.0%) $272,593 (5.9%) 0.00 285
    2019-04-01 $243,871 (12.3%) $283,600 (11.5%) 0.00 298
    2019-05-01 $249,725 (12.3%) $298,314 (17.9%) 0.00 298
    2019-06-01 $243,250 (10.6%) $287,212 (11.1%) 0.00 337
    2019-07-01 $246,500 (11.0%) $291,957 (11.2%) 0.00 376
    2019-08-01 $246,182 (9.7%) $289,747 (8.1%) 0.00 391
    2019-09-01 $242,705 (5.8%) $283,956 (4.1%) 0.00 397
    2019-10-01 $240,000 (2.8%) $278,196 (2.9%) 0.00 396
    2019-11-01 $246,250 (5.9%) $275,780 (4.4%) 0.00 360
    2019-12-01 $244,920 (7.3%) $266,857 (2.4%) 0.00 322
    2020-01-01 $244,950 (6.9%) $268,603 (2.9%) 0.00 299
    2020-02-01 $245,900 (6.6%) $265,500 (0.2%) 0.00 284
    2020-03-01 $249,700 (6.1%) $271,373 (-0.5%) 0.00 279
    2020-04-01 $257,413 (5.6%) $280,692 (-1.0%) 0.00 277
    2020-05-01 $259,450 (3.9%) $282,511 (-5.3%) 0.00 267
    2020-06-01 $263,700 (8.4%) $291,338 (1.4%) 0.00 250
    2020-07-01 $265,000 (7.5%) $301,090 (3.1%) 0.00 260
    2020-08-01 $260,000 (5.6%) $307,026 (6.0%) 0.00 254
    2020-09-01 $263,500 (8.6%) $322,567 (13.6%) 0.00 235
    2020-10-01 $265,000 (10.4%) $331,151 (19.0%) 0.00 210
    2020-11-01 $273,450 (11.1%) $354,169 (28.4%) 0.00 140
    2020-12-01 $283,675 (15.8%) $364,189 (36.5%) 0.00 124
    2021-01-01 $279,000 (13.9%) $373,342 (39.0%) 0.00 90
    2021-02-01 $282,175 (14.8%) $382,773 (44.2%) 0.00 83
    2021-03-01 $286,450 (14.7%) $366,032 (34.9%) 0.00 87
    2021-04-01 $302,250 (17.4%) $372,982 (32.9%) 0.00 84
    2021-05-01 $349,000 (34.5%) $404,953 (43.3%) 0.00 120
    2021-06-01 $369,900 (40.3%) $431,286 (48.0%) 0.00 142
    2021-07-01 $349,950 (32.1%) $414,109 (37.5%) 0.00 186
    2021-08-01 $356,000 (36.9%) $428,724 (39.6%) 0.00 200
    2021-09-01 $362,500 (37.6%) $429,842 (33.3%) 0.00 212
    2021-10-01 $384,900 (45.3%) $442,955 (33.8%) 0.00 194
    2021-11-01 $382,450 (39.9%) $431,039 (21.7%) 0.00 167
    2021-12-01 $384,700 (35.6%) $425,404 (16.8%) 0.00 152
    2022-01-01 $389,000 (39.4%) $423,175 (13.4%) 0.00 135
    2022-02-01 $392,350 (39.0%) $423,691 (10.7%) 0.00 132
    2022-03-01 $406,150 (41.8%) $459,141 (25.4%) 0.00 156
    2022-04-01 $424,900 (40.6%) $471,830 (26.5%) 0.00 160
    2022-05-01 $407,400 (16.7%) $454,197 (12.2%) 0.00 203
    2022-06-01 $412,210 (11.4%) $454,692 (5.4%) 0.00 267
    2022-07-01 $405,000 (15.7%) $450,110 (8.7%) 0.00 348
    2022-08-01 $399,999 (12.4%) $446,996 (4.3%) 0.00 360
    2022-09-01 $399,450 (10.2%) $438,494 (2.0%) 0.00 349
    2022-10-01 $399,000 (3.7%) $425,631 (-3.9%) 0.00 335
    2022-11-01 $388,972 (1.7%) $405,991 (-5.8%) 0.00 292
    2022-12-01 $397,000 (3.2%) $411,105 (-3.4%) 0.00 250
    2023-01-01 $399,900 (2.8%) $422,895 (-0.1%) 0.00 240
    2023-02-01 $399,987 (2.0%) $421,591 (-0.5%) 0.00 223
    2023-03-01 $413,750 (1.9%) $442,334 (-3.7%) 0.00 217
    2023-04-01 $410,000 (-3.5%) $451,468 (-4.3%) 0.00 220
    2023-05-01 $411,250 (1.0%) $447,237 (-1.5%) 0.00 243
    2023-06-01 $415,475 (0.8%) $466,674 (2.6%) 0.00 275
    2023-07-01 $419,000 (3.5%) $499,938 (11.1%) 0.00 330
    2023-08-01 $407,450 (1.9%) $486,731 (8.9%) 0.00 343
    2023-09-01 $419,000 (4.9%) $488,356 (11.4%) 0.00 325
    2023-10-01 $419,950 (5.3%) $495,146 (16.3%) 0.00 316
    2023-11-01 $409,450 (5.3%) $482,498 (18.8%) 0.00 336
    2023-12-01 $405,000 (2.0%) $476,164 (15.8%) 0.00 303
    2024-01-01 $399,900 (0.0%) $459,703 (8.7%) 0.00 276
    2024-02-01 $399,450 (-0.1%) $460,645 (9.3%) 0.00 246
    2024-03-01 $401,800 (-2.9%) $466,220 (5.4%) 0.00 266
    Aberdeen's median listing price for 2024-03-01 was $401,800, a difference of $-11,950 (-2.9%) versus the prior year and $2,350 versus the prior month.

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

    Aberdeen's average listing price for 2024-03-01 was $466,220, a difference of $23,886 (5.4%) versus the prior year and $5,575 versus the prior month.

    For the 2024-03-01 period, Aberdeen had 266 MLS listings, a difference of 20 listings (8%) versus the prior month and 49 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Aberdeen (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,509 sqft
    2018-02-01 0 days 1,517 sqft
    2018-03-01 0 days 1,509 sqft
    2018-04-01 0 days 1,478 sqft
    2018-05-01 0 days 1,500 sqft
    2018-06-01 0 days 1,516 sqft
    2018-07-01 0 days 1,487 sqft
    2018-08-01 0 days 1,533 sqft
    2018-09-01 0 days 1,545 sqft
    2018-10-01 0 days 1,543 sqft
    2018-11-01 0 days 1,499 sqft
    2018-12-01 0 days 1,489 sqft
    2019-01-01 0 days 1,487 sqft
    2019-02-01 0 days 1,502 sqft
    2019-03-01 0 days 1,505 sqft
    2019-04-01 0 days 1,504 sqft
    2019-05-01 0 days 1,491 sqft
    2019-06-01 0 days 1,465 sqft
    2019-07-01 0 days 1,488 sqft
    2019-08-01 0 days 1,500 sqft
    2019-09-01 0 days 1,519 sqft
    2019-10-01 0 days 1,508 sqft
    2019-11-01 0 days 1,491 sqft
    2019-12-01 0 days 1,463 sqft
    2020-01-01 0 days 1,469 sqft
    2020-02-01 0 days 1,470 sqft
    2020-03-01 0 days 1,419 sqft
    2020-04-01 0 days 1,419 sqft
    2020-05-01 0 days 1,440 sqft
    2020-06-01 0 days 1,462 sqft
    2020-07-01 0 days 1,484 sqft
    2020-08-01 0 days 1,520 sqft
    2020-09-01 0 days 1,517 sqft
    2020-10-01 0 days 1,528 sqft
    2020-11-01 0 days 1,425 sqft
    2020-12-01 0 days 1,445 sqft
    2021-01-01 0 days 1,434 sqft
    2021-02-01 0 days 1,498 sqft
    2021-03-01 0 days 1,478 sqft
    2021-04-01 0 days 1,524 sqft
    2021-05-01 0 days 1,527 sqft
    2021-06-01 0 days 1,513 sqft
    2021-07-01 0 days 1,532 sqft
    2021-08-01 0 days 1,534 sqft
    2021-09-01 0 days 1,502 sqft
    2021-10-01 0 days 1,518 sqft
    2021-11-01 0 days 1,486 sqft
    2021-12-01 0 days 1,490 sqft
    2022-01-01 0 days 1,425 sqft
    2022-02-01 0 days 1,375 sqft
    2022-03-01 0 days 1,445 sqft
    2022-04-01 0 days 1,440 sqft
    2022-05-01 0 days 1,450 sqft
    2022-06-01 0 days 1,428 sqft
    2022-07-01 0 days 1,468 sqft
    2022-08-01 0 days 1,487 sqft
    2022-09-01 0 days 1,486 sqft
    2022-10-01 0 days 1,488 sqft
    2022-11-01 0 days 1,460 sqft
    2022-12-01 0 days 1,446 sqft
    2023-01-01 0 days 1,448 sqft
    2023-02-01 0 days 1,476 sqft
    2023-03-01 0 days 1,461 sqft
    2023-04-01 0 days 1,491 sqft
    2023-05-01 0 days 1,484 sqft
    2023-06-01 0 days 1,523 sqft
    2023-07-01 0 days 1,500 sqft
    2023-08-01 0 days 1,514 sqft
    2023-09-01 0 days 1,512 sqft
    2023-10-01 0 days 1,492 sqft
    2023-11-01 0 days 1,484 sqft
    2023-12-01 0 days 1,490 sqft
    2024-01-01 0 days 1,489 sqft
    2024-02-01 0 days 1,489 sqft
    2024-03-01 0 days 1,495 sqft
    Aberdeen's median listing age (time on market) for 2024-03-01 was 0 days.

    Aberdeen's median square footage for active listings during the 2024-03-01 period was 1,495 sqft. One year prior, the average listing was 1,461 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).