Albany FHA Loan Rates, Closing Costs & Stats

ALBANY-LEBANON, OR

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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.

    Albany's 81 lenders originated 461 FHA loans during 2024. The total origination value was $157,895,000, with an average FHA loan value of $342,505.

    Albany FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Albany averaged 6.12% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Albany's average FHA mortgage closing costs are $10,632.

    The average rate for the prior week (2025-03-28) was 6.32% and one month ago for the week of 2025-02-28, the average rate was 6.3%.

    The average rate one year ago was 6.52%.

    For refis of the same type during the week of 2025-04-04, the average rate was 5.95%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Albany 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 Albany level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 30 6.04% $15,825
    SUMMIT FUNDING, INC. 29 6.02% $21,286
    GUILD MORTGAGE COMPANY 26 6.30% $14,522
    NEWREZ LLC 26 6.06% $14,480
    MOVEMENT MORTGAGE, LLC 23 6.43% $15,457
    QUICKEN LOANS, LLC 22 6.32% $14,350
    FREEDOM MORTGAGE CORPORATION 20 6.41% $12,011
    LOANDEPOT.COM, LLC 16 6.38% $16,173
    PACIFIC RESIDENTIAL MORTGAGE, LLC 15 6.41% $17,201
    S1L, Inc. 13 6.59% $16,392
    DAS Acquisition Company, LLC 12 6.30% $20,610
    NATIONS DIRECT MORTGAGE, LLC 11 6.03% $13,207
    MORTGAGE EXPRESS, LLC 10 6.57% $14,341
    PENNYMAC LOAN SERVICES, LLC 9 5.91% $12,313
    CROSSCOUNTRY MORTGAGE, LLC 9 6.47% $17,721
    EAGLE HOME MORTGAGE, LLC 7 5.12% $14,394
    DIRECTORS MORTGAGE, INC. 7 6.34% $18,584
    LAKEVIEW LOAN SERVICING, LLC 6 6.23% $9,344
    V.I.P. MORTGAGE, INC. 5 6.15% $12,762
    LPMC, LLC 5 6.05% $13,413
    UNION HOME MORTGAGE CORP. 5 6.78% $14,195
    CANOPY MORTGAGE, LLC 4 6.44% $17,185
    Sierra Pacific Mortgage Company, Inc. 4 6.15% $15,016
    PLAZA HOME MORTGAGE, INC. 4 6.68% $12,645
    Equity Prime Mortgage LLC 4 7.56% $14,207
    AMERICAN FINANCIAL NETWORK, INC. 4 6.38% $19,913
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.25% $17,546
    NOVA FINANCIAL & INVESTMENT CORPORATION 4 6.69% $13,346
    MASON MCDUFFIE MORTGAGE CORPORATION 3 6.71% $15,395
    PANORAMA MORTGAGE GROUP, LLC 3 6.42% $14,361
    CMG MORTGAGE, INC. 3 6.25% $15,020
    KeyBank 3 6.17% $12,931
    CHURCHILL MORTGAGE CORPORATION 3 6.25% $14,312
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.08% $13,902
    ENVOY MORTGAGE, LTD 2 5.75% $13,743
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.94% $18,590
    AMERICAN FINANCING CORPORATION 2 5.25% $12,228
    Century Mortgage Company DBA Century Lending Company 2 5.75% $18,132
    Flagstar Bank, FSB 2 5.88% $12,996
    Franklin Loan Corporation 2 6.13% $14,650
    GUARANTEED RATE, INC. 2 6.00% $14,958
    Hometown Equity Mortgage, LLC 2 5.50% $8,715
    Mortgage Research Center, LLC 2 6.56% $8,814
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.94% $17,730
    Nations Lending Corporation 2 6.50% $23,298
    OnPoint Community Credit Union 2 6.38% $12,778
    Paramount Residential Mortgage Group, Inc. 2 6.38% $13,821
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 6.12% $15,670
    SUN WEST MORTGAGE COMPANY, INC. 2 5.50% $13,153
    HOMEXPRESS MORTGAGE CORP. 1 6.63% $13,497
    HomeStreet Bank 1 6.13% $10,060
    VILLAGE CAPITAL MORTGAGE 1 6.38% $5,588
    ONY GLO, INC. 1 5.50% $11,010
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $20,917
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 6.25% $16,644
    ALLIED MORTGAGE GROUP, INC. 1 5.75% $16,620
    EVERETT FINANCIAL, INC. 1 7.13% $11,471
    PLANET HOME LENDING, LLC 1 6.38% $7,346
    AHL FUNDING 1 5.75% $8,967
    Willamette Valley Bank 1 6.00% $20,447
    Presidential Bank, FSB 1 5.88% $13,280
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.38% $11,992
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.50% $15,016
    CORNERSTONE HOME LENDING, INC. 1 6.63% $15,017
    RELIANCE FIRST CAPITAL, LLC 1 5.50% $10,803
    Carrington Mortgage Services, LLC 1 5.88% $21,087
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.25% $13,886
    Cache Valley Bank 1 6.13% $7,263
    SIRVA MORTGAGE, INC. 1 6.50% $7,317
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.13% $17,921
    BROKER SOLUTIONS, INC. 1 7.00% $15,699
    Sunflower Bank 1 6.49% $11,505
    ZILLOW HOME LOANS, LLC 1 6.75% $11,637
    Umpqua Bank 1 7.63% $13,090
    Bank of England 1 7.88% $5,616
    Ixonia Bank 1 5.63% $15,170
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $5,294
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $15,741
    ISERVE RESIDENTIAL LENDING, LLC 1 6.13% $17,574
    U.S. Bank 1 6.38% $10,605
    NBKC BANK 1 6.50% $10,997

    The top Albany FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 30 FHA loans originated. Their average total fees are $15,825, which is $5,462 lower than the next largest lender, SUMMIT FUNDING, INC..

    The lowest fee Albany FHA lenders (with over 10 loans originated) are FREEDOM MORTGAGE CORPORATION ($12,011), NATIONS DIRECT MORTGAGE, LLC ($13,207), MORTGAGE EXPRESS, LLC ($14,341), QUICKEN LOANS, LLC ($14,350) and NEWREZ LLC ($14,480).

    The lowest rate Albany FHA lenders (with over 10 loans originated) are SUMMIT FUNDING, INC. (6.02%), NATIONS DIRECT MORTGAGE, LLC (6.03%), UNITED WHOLESALE MORTGAGE, LLC (6.04%), NEWREZ LLC (6.06%) and GUILD MORTGAGE COMPANY (6.30%).

    Albany FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ALBANY-LEBANON, OR LINN 2022 $420,680 $538,650 $651,050 $809,150
    ALBANY-LEBANON, OR LINN 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Albany (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 $319,900 (39.4%) $361,950 (24.1%) 0.00 294
    2018-02-01 $325,450 (32.9%) $361,111 (19.1%) 0.00 244
    2018-03-01 $332,900 (31.3%) $359,696 (16.5%) 0.00 252
    2018-04-01 $341,200 (31.3%) $375,648 (20.5%) 0.00 251
    2018-05-01 $343,125 (29.5%) $404,665 (29.4%) 0.00 277
    2018-06-01 $349,950 (30.9%) $398,908 (28.3%) 0.00 313
    2018-07-01 $347,475 (15.8%) $394,020 (12.1%) 0.00 343
    2018-08-01 $341,188 (10.4%) $389,455 (9.9%) 0.00 375
    2018-09-01 $348,950 (12.6%) $395,316 (12.3%) 0.00 347
    2018-10-01 $344,625 (9.4%) $401,011 (11.0%) 0.00 348
    2018-11-01 $340,950 (4.9%) $398,816 (8.3%) 0.00 339
    2018-12-01 $334,900 (4.7%) $397,409 (10.6%) 0.00 340
    2019-01-01 $328,150 (2.6%) $407,085 (12.5%) 0.00 300
    2019-02-01 $330,198 (1.5%) $430,117 (19.1%) 0.00 284
    2019-03-01 $340,300 (2.2%) $432,355 (20.2%) 0.00 282
    2019-04-01 $347,875 (2.0%) $437,411 (16.4%) 0.00 272
    2019-05-01 $348,700 (1.6%) $432,413 (6.9%) 0.00 294
    2019-06-01 $349,900 (0.0%) $427,350 (7.1%) 0.00 323
    2019-07-01 $339,800 (-2.2%) $417,477 (6.0%) 0.00 336
    2019-08-01 $335,691 (-1.6%) $404,887 (4.0%) 0.00 363
    2019-09-01 $329,677 (-5.5%) $403,215 (2.0%) 0.00 364
    2019-10-01 $328,793 (-4.6%) $408,883 (2.0%) 0.00 346
    2019-11-01 $322,900 (-5.3%) $405,979 (1.8%) 0.00 313
    2019-12-01 $329,450 (-1.6%) $404,294 (1.7%) 0.00 299
    2020-01-01 $339,900 (3.6%) $430,022 (5.6%) 0.00 259
    2020-02-01 $339,250 (2.7%) $432,102 (0.5%) 0.00 239
    2020-03-01 $336,700 (-1.1%) $413,537 (-4.4%) 0.00 213
    2020-04-01 $347,200 (-0.2%) $417,010 (-4.7%) 0.00 254
    2020-05-01 $349,900 (0.3%) $426,478 (-1.4%) 0.00 227
    2020-06-01 $366,449 (4.7%) $468,174 (9.6%) 0.00 177
    2020-07-01 $375,450 (10.5%) $450,484 (7.9%) 0.00 185
    2020-08-01 $387,900 (15.6%) $468,365 (15.7%) 0.00 165
    2020-09-01 $380,938 (15.6%) $486,111 (20.6%) 0.00 138
    2020-10-01 $374,900 (14.0%) $481,101 (17.7%) 0.00 147
    2020-11-01 $388,550 (20.3%) $514,776 (26.8%) 0.00 121
    2020-12-01 $389,675 (18.3%) $522,822 (29.3%) 0.00 111
    2021-01-01 $390,450 (14.9%) $495,050 (15.1%) 0.00 102
    2021-02-01 $340,450 (0.4%) $445,596 (3.1%) 0.00 105
    2021-03-01 $316,250 (-6.1%) $442,278 (7.0%) 0.00 105
    2021-04-01 $332,375 (-4.3%) $480,934 (15.3%) 0.00 109
    2021-05-01 $395,000 (12.9%) $523,588 (22.8%) 0.00 111
    2021-06-01 $410,725 (12.1%) $509,679 (8.9%) 0.00 124
    2021-07-01 $399,900 (6.5%) $509,222 (13.0%) 0.00 136
    2021-08-01 $404,900 (4.4%) $494,023 (5.5%) 0.00 169
    2021-09-01 $399,500 (4.9%) $471,002 (-3.1%) 0.00 186
    2021-10-01 $419,900 (12.0%) $494,813 (2.9%) 0.00 192
    2021-11-01 $420,000 (8.1%) $534,918 (3.9%) 0.00 174
    2021-12-01 $417,450 (7.1%) $528,473 (1.1%) 0.00 149
    2022-01-01 $423,925 (8.6%) $541,167 (9.3%) 0.00 111
    2022-02-01 $419,450 (23.2%) $558,216 (25.3%) 0.00 105
    2022-03-01 $430,000 (36.0%) $573,662 (29.7%) 0.00 105
    2022-04-01 $435,000 (30.9%) $594,974 (23.7%) 0.00 118
    2022-05-01 $420,900 (6.6%) $577,549 (10.3%) 0.00 160
    2022-06-01 $419,700 (2.2%) $569,441 (11.7%) 0.00 191
    2022-07-01 $425,000 (6.3%) $572,486 (12.4%) 0.00 258
    2022-08-01 $428,550 (5.8%) $572,079 (15.8%) 0.00 272
    2022-09-01 $424,900 (6.4%) $551,494 (17.1%) 0.00 280
    2022-10-01 $434,900 (3.6%) $573,367 (15.9%) 0.00 275
    2022-11-01 $437,125 (4.1%) $570,063 (6.6%) 0.00 267
    2022-12-01 $420,000 (0.6%) $549,349 (4.0%) 0.00 273
    2023-01-01 $419,675 (-1.0%) $534,089 (-1.3%) 0.00 244
    2023-02-01 $424,950 (1.3%) $535,001 (-4.2%) 0.00 218
    2023-03-01 $421,200 (-2.1%) $542,888 (-5.4%) 0.00 203
    2023-04-01 $419,950 (-3.5%) $541,760 (-8.9%) 0.00 187
    2023-05-01 $429,450 (2.0%) $568,014 (-1.7%) 0.00 202
    2023-06-01 $462,000 (10.1%) $598,041 (5.0%) 0.00 215
    2023-07-01 $449,900 (5.9%) $607,520 (6.1%) 0.00 237
    2023-08-01 $449,925 (5.0%) $622,812 (8.9%) 0.00 252
    2023-09-01 $469,900 (10.6%) $613,186 (11.2%) 0.00 270
    2023-10-01 $469,950 (8.1%) $619,877 (8.1%) 0.00 262
    2023-11-01 $472,200 (8.0%) $610,048 (7.0%) 0.00 263
    2023-12-01 $469,000 (11.7%) $618,012 (12.5%) 0.00 230
    2024-01-01 $454,900 (8.4%) $578,977 (8.4%) 0.00 230
    2024-02-01 $464,900 (9.4%) $577,733 (8.0%) 0.00 216
    2024-03-01 $464,999 (10.4%) $593,502 (9.3%) 0.00 212
    2024-04-01 $465,600 (10.9%) $593,728 (9.6%) 0.00 230
    2024-05-01 $489,950 (14.1%) $615,305 (8.3%) 0.00 255
    2024-06-01 $482,400 (4.4%) $609,471 (1.9%) 0.00 285
    2024-07-01 $459,900 (2.2%) $594,204 (-2.2%) 0.00 303
    2024-08-01 $449,900 (0.0%) $575,111 (-7.7%) 0.00 333
    2024-09-01 $449,900 (-4.3%) $565,964 (-7.7%) 0.00 342
    2024-10-01 $446,175 (-5.1%) $565,371 (-8.8%) 0.00 325
    2024-11-01 $442,000 (-6.4%) $558,497 (-8.5%) 0.00 294
    2024-12-01 $457,500 (-2.5%) $571,578 (-7.5%) 0.00 263
    2025-01-01 $455,948 (0.2%) $560,288 (-3.2%) 0.00 262
    2025-02-01 $468,375 (0.8%) $559,599 (-3.1%) 0.00 254
    2025-03-01 $452,500 (-2.7%) $559,321 (-5.8%) 0.00 249
    Albany's median listing price for 2025-03-01 was $452,500, a difference of $-12,499 (-2.7%) versus the prior year and $-15,875 versus the prior month.

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

    Albany's average listing price for 2025-03-01 was $559,321, a difference of $-34,181 (-5.8%) versus the prior year and $-278 versus the prior month.

    For the 2025-03-01 period, Albany had 249 MLS listings, a difference of -5 listings (-2%) versus the prior month and 37 listings (17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Albany (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,897 sqft
    2018-02-01 0 days 1,897 sqft
    2018-03-01 0 days 1,871 sqft
    2018-04-01 0 days 1,854 sqft
    2018-05-01 0 days 1,853 sqft
    2018-06-01 0 days 1,857 sqft
    2018-07-01 0 days 1,857 sqft
    2018-08-01 0 days 1,861 sqft
    2018-09-01 0 days 1,870 sqft
    2018-10-01 0 days 1,842 sqft
    2018-11-01 0 days 1,836 sqft
    2018-12-01 0 days 1,819 sqft
    2019-01-01 0 days 1,815 sqft
    2019-02-01 0 days 1,838 sqft
    2019-03-01 0 days 1,811 sqft
    2019-04-01 0 days 1,792 sqft
    2019-05-01 0 days 1,810 sqft
    2019-06-01 0 days 1,827 sqft
    2019-07-01 0 days 1,782 sqft
    2019-08-01 0 days 1,735 sqft
    2019-09-01 0 days 1,742 sqft
    2019-10-01 0 days 1,753 sqft
    2019-11-01 0 days 1,722 sqft
    2019-12-01 0 days 1,722 sqft
    2020-01-01 0 days 1,842 sqft
    2020-02-01 0 days 1,805 sqft
    2020-03-01 0 days 1,731 sqft
    2020-04-01 0 days 1,795 sqft
    2020-05-01 0 days 1,771 sqft
    2020-06-01 0 days 1,892 sqft
    2020-07-01 0 days 1,882 sqft
    2020-08-01 0 days 1,992 sqft
    2020-09-01 0 days 1,850 sqft
    2020-10-01 0 days 1,845 sqft
    2020-11-01 0 days 1,763 sqft
    2020-12-01 0 days 1,756 sqft
    2021-01-01 0 days 1,756 sqft
    2021-02-01 0 days 1,603 sqft
    2021-03-01 0 days 1,542 sqft
    2021-04-01 0 days 1,462 sqft
    2021-05-01 0 days 1,722 sqft
    2021-06-01 0 days 1,709 sqft
    2021-07-01 0 days 1,672 sqft
    2021-08-01 0 days 1,715 sqft
    2021-09-01 0 days 1,644 sqft
    2021-10-01 0 days 1,688 sqft
    2021-11-01 0 days 1,752 sqft
    2021-12-01 0 days 1,701 sqft
    2022-01-01 0 days 1,673 sqft
    2022-02-01 0 days 1,671 sqft
    2022-03-01 0 days 1,682 sqft
    2022-04-01 0 days 1,657 sqft
    2022-05-01 0 days 1,660 sqft
    2022-06-01 0 days 1,652 sqft
    2022-07-01 0 days 1,660 sqft
    2022-08-01 0 days 1,647 sqft
    2022-09-01 0 days 1,623 sqft
    2022-10-01 0 days 1,649 sqft
    2022-11-01 0 days 1,652 sqft
    2022-12-01 0 days 1,645 sqft
    2023-01-01 0 days 1,648 sqft
    2023-02-01 0 days 1,660 sqft
    2023-03-01 0 days 1,678 sqft
    2023-04-01 0 days 1,680 sqft
    2023-05-01 0 days 1,686 sqft
    2023-06-01 0 days 1,722 sqft
    2023-07-01 0 days 1,680 sqft
    2023-08-01 0 days 1,734 sqft
    2023-09-01 0 days 1,800 sqft
    2023-10-01 0 days 1,820 sqft
    2023-11-01 0 days 1,770 sqft
    2023-12-01 0 days 1,732 sqft
    2024-01-01 0 days 1,744 sqft
    2024-02-01 0 days 1,711 sqft
    2024-03-01 0 days 1,716 sqft
    2024-04-01 0 days 1,690 sqft
    2024-05-01 0 days 1,697 sqft
    2024-06-01 0 days 1,744 sqft
    2024-07-01 0 days 1,687 sqft
    2024-08-01 0 days 1,658 sqft
    2024-09-01 0 days 1,656 sqft
    2024-10-01 0 days 1,672 sqft
    2024-11-01 0 days 1,675 sqft
    2024-12-01 0 days 1,735 sqft
    2025-01-01 0 days 1,702 sqft
    2025-02-01 0 days 1,712 sqft
    2025-03-01 0 days 1,689 sqft
    Albany's median listing age (time on market) for 2025-03-01 was 0 days.

    Albany's median square footage for active listings during the 2025-03-01 period was 1,689 sqft. One year prior, the average listing was 1,716 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).