Aberdeen FHA Loan Rates, Closing Costs & Stats

Aberdeen, WA

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).