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 367 FHA loans during 2022. The total origination value was $95,375,000, with an average FHA loan value of $259,877.

    Aberdeen FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Aberdeen averaged -0.32% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

    Aberdeen's average FHA mortgage closing costs are $8,541.

    The average rate for the prior week (2023-11-17) was 7.08% and one month ago for the week of 2023-10-20, the average rate was 6.98%.

    The average rate one year ago was 6.31%.

    For refis of the same type during the week of 2023-11-24, the average rate was -0.98%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 49 5.44% $12,153
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 25 5.51% $10,582
    QUICKEN LOANS, LLC 25 4.38% $10,687
    ACADEMY MORTGAGE CORPORATION 14 5.43% $13,230
    CALIBER HOME LOANS, INC. 9 5.03% $10,954
    CROSSCOUNTRY MORTGAGE, LLC 9 5.22% $13,769
    LAKEVIEW LOAN SERVICING, LLC 8 3.83% $5,847
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 8 4.91% $13,492
    UNITED WHOLESALE MORTGAGE, LLC 7 4.05% $10,571
    LOANDEPOT.COM, LLC 7 4.41% $12,175
    BROKER SOLUTIONS, INC. 6 5.44% $14,779
    PREMIER MORTGAGE RESOURCES, L.L.C. 5 4.83% $13,832
    MORTGAGE MASTER SERVICE CORPORATION 5 5.63% $9,742
    NFM, INC. 5 5.98% $11,194
    MID AMERICA MORTGAGE, INC. 5 5.75% $5,073
    FREEDOM MORTGAGE CORPORATION 4 4.69% $11,140
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 4.72% $7,712
    HomeStreet Bank 4 5.75% $15,456
    AMERICAN FINANCIAL RESOURCES, INC. 4 3.75% $10,962
    MOVEMENT MORTGAGE, LLC 4 5.56% $11,911
    CORNERSTONE HOME LENDING, INC. 3 5.58% $12,710
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 4.75% $13,344
    BAY EQUITY LLC 3 5.04% $13,045
    SUMMIT FUNDING, INC. 3 5.38% $13,492
    Hometown Lenders, Inc. 3 6.63% $14,643
    PLANET HOME LENDING, LLC 3 3.83% $9,423
    Alaska USA Mortgage Company LLC 3 5.00% $9,203
    Paramount Residential Mortgage Group, Inc. 3 5.42% $12,516
    Mr. Cooper ( Nationstar Mortgage ) 3 4.58% $11,309
    1st Security Bank of Washington 2 3.31% $10,191
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 5.00% $10,692
    AMERISAVE MORTGAGE CORPORATION 2 5.25% $16,420
    CALCON MUTUAL MORTGAGE LLC 2 6.00% $20,190
    CARDINAL FINANCIAL 2 4.81% $10,544
    Carrington Mortgage Services, LLC 2 5.19% $8,838
    FINANCE OF AMERICA MORTGAGE LLC 2 5.75% $10,598
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.88% $13,854
    HOME POINT FINANCIAL CORPORATION 2 3.68% $12,000
    LEADERONE FINANCIAL CORPORATION 2 6.19% $9,734
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.13% $16,570
    Nations Lending Corporation 2 4.63% $18,509
    RANLIFE, INC. 2 4.25% $12,319
    The Federal Savings Bank 2 4.94% $17,952
    MLD MORTGAGE INC. 1 5.00% $18,413
    MORIA DEVELOPMENT, INC. 1 5.63% $8,126
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.25% $14,430
    GESA 1 5.13% $11,028
    Flagstar Bank, FSB 1 3.25% $10,112
    UNITED MORTGAGE CORP 1 3.50% $12,382
    AMCAP MORTGAGE, LTD. 1 4.50% $9,461
    NEWREZ LLC 1 4.75% $12,003
    First Home Bank 1 4.38% $11,740
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 5.88% $6,478
    First Guaranty Mortgage Corporation 1 4.75% $13,608
    Peoples Bank 1 4.50% $8,847
    Peoples Bank 1 6.75% $15,956
    EVERETT FINANCIAL, INC. 1 6.50% $7,378
    DRAPER AND KRAMER MORTGAGE CORP. 1 4.63% $10,980
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.13% $7,357
    Bank of the Pacific 1 2.62% $6,354
    Bank of England 1 5.25% $14,243
    VILLAGE CAPITAL MORTGAGE 1 3.25% $2,725
    SECURITYNATIONAL MORTGAGE COMPANY 1 3.75% $7,154
    Servion, Inc. 1 3.13% $11,913
    AMERICAN FINANCING CORPORATION 1 5.75% $6,388
    SUMMIT MORTGAGE CORPORATION 1 4.38% $9,432
    Wells Fargo Bank 1 3.50% $8,793
    LAND HOME FINANCIAL SERVICES, INC. 1 5.00% $11,084
    TJC Mortgage, Inc. 1 3.75% $9,387
    KeyBank 1 5.25% $9,548
    MANN FINANCIAL INC. 1 5.00% $14,348
    HOMESIDE FINANCIAL, LLC 1 4.50% $12,162

    The top Aberdeen FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 49 FHA loans originated. Their average total fees are $12,153, which is $1,572 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Aberdeen FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($10,582), QUICKEN LOANS, LLC ($10,687), GUILD MORTGAGE COMPANY ($12,153), ACADEMY MORTGAGE CORPORATION ($13,230) and .

    The lowest rate Aberdeen FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.38%), ACADEMY MORTGAGE CORPORATION (5.43%), GUILD MORTGAGE COMPANY (5.44%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (5.51%) and .

    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 $211,175 (22.3%) $250,115 (17.0%) 0.00 290
    2018-02-01 $218,625 (21.2%) $258,403 (19.4%) 0.00 285
    2018-03-01 $219,450 (19.1%) $258,236 (16.0%) 0.00 297
    2018-04-01 $217,975 (14.8%) $254,980 (13.3%) 0.00 310
    2018-05-01 $222,500 (12.8%) $253,732 (9.3%) 0.00 327
    2018-06-01 $220,950 (13.3%) $259,299 (12.6%) 0.00 376
    2018-07-01 $222,450 (11.3%) $263,212 (13.3%) 0.00 412
    2018-08-01 $224,900 (12.5%) $269,044 (16.3%) 0.00 411
    2018-09-01 $229,900 (15.0%) $274,161 (15.5%) 0.00 398
    2018-10-01 $233,700 (15.4%) $270,868 (10.5%) 0.00 380
    2018-11-01 $231,875 (12.2%) $264,402 (6.3%) 0.00 357
    2018-12-01 $227,500 (13.8%) $260,714 (6.7%) 0.00 322
    2019-01-01 $228,400 (8.2%) $261,024 (4.4%) 0.00 271
    2019-02-01 $230,625 (5.5%) $265,159 (2.6%) 0.00 274
    2019-03-01 $236,386 (7.7%) $273,092 (5.8%) 0.00 283
    2019-04-01 $245,575 (12.7%) $284,749 (11.7%) 0.00 294
    2019-05-01 $250,925 (12.8%) $299,607 (18.1%) 0.00 293
    2019-06-01 $244,000 (10.4%) $288,103 (11.1%) 0.00 334
    2019-07-01 $247,000 (11.0%) $292,809 (11.2%) 0.00 373
    2019-08-01 $246,955 (9.8%) $290,665 (8.0%) 0.00 387
    2019-09-01 $243,886 (6.1%) $284,888 (3.9%) 0.00 394
    2019-10-01 $240,750 (3.0%) $279,150 (3.1%) 0.00 393
    2019-11-01 $247,500 (6.7%) $277,023 (4.8%) 0.00 356
    2019-12-01 $244,920 (7.7%) $266,975 (2.4%) 0.00 318
    2020-01-01 $244,950 (7.3%) $268,658 (2.9%) 0.00 295
    2020-02-01 $245,900 (6.6%) $265,533 (0.1%) 0.00 280
    2020-03-01 $249,700 (5.6%) $271,197 (-0.7%) 0.00 275
    2020-04-01 $255,913 (4.2%) $279,665 (-1.8%) 0.00 275
    2020-05-01 $259,000 (3.2%) $282,140 (-5.8%) 0.00 266
    2020-06-01 $263,800 (8.1%) $292,119 (1.4%) 0.00 250
    2020-07-01 $265,000 (7.3%) $301,461 (3.0%) 0.00 258
    2020-08-01 $262,500 (6.3%) $307,697 (5.9%) 0.00 251
    2020-09-01 $262,500 (7.6%) $322,154 (13.1%) 0.00 233
    2020-10-01 $266,250 (10.6%) $331,807 (18.9%) 0.00 209
    2020-11-01 $274,450 (10.9%) $355,326 (28.3%) 0.00 139
    2020-12-01 $284,900 (16.3%) $365,565 (36.9%) 0.00 123
    2021-01-01 $284,450 (16.1%) $374,981 (39.6%) 0.00 88
    2021-02-01 $286,725 (16.6%) $384,803 (44.9%) 0.00 82
    2021-03-01 $287,450 (15.1%) $369,020 (36.1%) 0.00 85
    2021-04-01 $304,725 (19.1%) $375,025 (34.1%) 0.00 83
    2021-05-01 $349,000 (34.8%) $404,953 (43.5%) 0.00 120
    2021-06-01 $369,900 (40.2%) $432,113 (47.9%) 0.00 142
    2021-07-01 $350,000 (32.1%) $414,109 (37.4%) 0.00 186
    2021-08-01 $359,725 (37.0%) $429,415 (39.6%) 0.00 198
    2021-09-01 $362,500 (38.1%) $430,809 (33.7%) 0.00 211
    2021-10-01 $382,450 (43.6%) $439,837 (32.6%) 0.00 192
    2021-11-01 $381,225 (38.9%) $428,253 (20.5%) 0.00 166
    2021-12-01 $384,475 (35.0%) $422,335 (15.5%) 0.00 151
    2022-01-01 $389,000 (36.8%) $419,102 (11.8%) 0.00 134
    2022-02-01 $390,975 (36.4%) $419,436 (9.0%) 0.00 131
    2022-03-01 $404,800 (40.8%) $455,395 (23.4%) 0.00 153
    2022-04-01 $419,900 (37.8%) $468,138 (24.8%) 0.00 157
    2022-05-01 $406,175 (16.4%) $451,880 (11.6%) 0.00 199
    2022-06-01 $411,950 (11.4%) $453,658 (5.0%) 0.00 262
    2022-07-01 $405,000 (15.7%) $449,331 (8.5%) 0.00 345
    2022-08-01 $399,999 (11.2%) $446,820 (4.1%) 0.00 357
    2022-09-01 $399,450 (10.2%) $438,597 (1.8%) 0.00 346
    2022-10-01 $395,900 (3.5%) $425,327 (-3.3%) 0.00 331
    2022-11-01 $389,000 (2.0%) $405,943 (-5.2%) 0.00 288
    2022-12-01 $399,000 (3.8%) $411,132 (-2.7%) 0.00 245
    2023-01-01 $399,900 (2.8%) $422,443 (0.8%) 0.00 235
    2023-02-01 $399,962 (2.3%) $421,462 (0.5%) 0.00 219
    2023-03-01 $412,500 (1.9%) $440,905 (-3.2%) 0.00 213
    2023-04-01 $410,000 (-2.4%) $448,393 (-4.2%) 0.00 216
    2023-05-01 $410,000 (0.9%) $445,827 (-1.3%) 0.00 240
    2023-06-01 $415,475 (0.9%) $466,707 (2.9%) 0.00 273
    2023-07-01 $419,000 (3.5%) $500,301 (11.3%) 0.00 328
    2023-08-01 $407,438 (1.9%) $487,050 (9.0%) 0.00 341
    2023-09-01 $419,000 (4.9%) $488,356 (11.4%) 0.00 324
    2023-10-01 $419,950 (6.1%) $495,146 (16.4%) 0.00 316
    Aberdeen's median listing price for 2023-10-01 was $419,950, a difference of $24,050 (6.1%) versus the prior year and $950 versus the prior month.

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

    Aberdeen's average listing price for 2023-10-01 was $495,146, a difference of $69,819 (16.4%) versus the prior year and $6,790 versus the prior month.

    For the 2023-10-01 period, Aberdeen had 316 MLS listings, a difference of -8 listings (-2%) versus the prior month and -15 listings (-5%) 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 1,499 sqft
    2018-02-01 0 days 1,514 sqft
    2018-03-01 0 days 1,506 sqft
    2018-04-01 0 days 1,479 sqft
    2018-05-01 0 days 1,504 sqft
    2018-06-01 0 days 1,516 sqft
    2018-07-01 0 days 1,489 sqft
    2018-08-01 0 days 1,534 sqft
    2018-09-01 0 days 1,553 sqft
    2018-10-01 0 days 1,544 sqft
    2018-11-01 0 days 1,501 sqft
    2018-12-01 0 days 1,490 sqft
    2019-01-01 0 days 1,488 sqft
    2019-02-01 0 days 1,505 sqft
    2019-03-01 0 days 1,510 sqft
    2019-04-01 0 days 1,509 sqft
    2019-05-01 0 days 1,496 sqft
    2019-06-01 0 days 1,467 sqft
    2019-07-01 0 days 1,488 sqft
    2019-08-01 0 days 1,501 sqft
    2019-09-01 0 days 1,521 sqft
    2019-10-01 0 days 1,510 sqft
    2019-11-01 0 days 1,491 sqft
    2019-12-01 0 days 1,456 sqft
    2020-01-01 0 days 1,466 sqft
    2020-02-01 0 days 1,456 sqft
    2020-03-01 0 days 1,416 sqft
    2020-04-01 0 days 1,417 sqft
    2020-05-01 0 days 1,440 sqft
    2020-06-01 0 days 1,456 sqft
    2020-07-01 0 days 1,479 sqft
    2020-08-01 0 days 1,507 sqft
    2020-09-01 0 days 1,517 sqft
    2020-10-01 0 days 1,527 sqft
    2020-11-01 0 days 1,434 sqft
    2020-12-01 0 days 1,445 sqft
    2021-01-01 0 days 1,440 sqft
    2021-02-01 0 days 1,499 sqft
    2021-03-01 0 days 1,487 sqft
    2021-04-01 0 days 1,546 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 1,543 sqft
    2021-09-01 0 days 1,504 sqft
    2021-10-01 0 days 1,520 sqft
    2021-11-01 0 days 1,483 sqft
    2021-12-01 0 days 1,489 sqft
    2022-01-01 0 days 1,416 sqft
    2022-02-01 0 days 1,364 sqft
    2022-03-01 0 days 1,444 sqft
    2022-04-01 0 days 1,444 sqft
    2022-05-01 0 days 1,454 sqft
    2022-06-01 0 days 1,442 sqft
    2022-07-01 0 days 1,472 sqft
    2022-08-01 0 days 1,487 sqft
    2022-09-01 0 days 1,484 sqft
    2022-10-01 0 days 1,484 sqft
    2022-11-01 0 days 1,457 sqft
    2022-12-01 0 days 1,440 sqft
    2023-01-01 0 days 1,436 sqft
    2023-02-01 0 days 1,461 sqft
    2023-03-01 0 days 1,438 sqft
    2023-04-01 0 days 1,484 sqft
    2023-05-01 0 days 1,477 sqft
    2023-06-01 0 days 1,522 sqft
    2023-07-01 0 days 1,500 sqft
    2023-08-01 0 days 1,514 sqft
    2023-09-01 0 days 1,509 sqft
    2023-10-01 0 days 1,492 sqft
    Aberdeen's median listing age (time on market) for 2023-10-01 was 0 days.

    Aberdeen's median square footage for active listings during the 2023-10-01 period was 1,492 sqft. One year prior, the average listing was 1,484 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).