Bakersfield FHA Loan Rates, Closing Costs & Stats

BAKERSFIELD, CA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Bakersfield's 160 lenders originated 3,079 FHA loans during 2023. The total origination value was $986,845,000, with an average FHA loan value of $320,508.

    Bakersfield FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Bakersfield averaged 6.27% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Bakersfield's average FHA mortgage closing costs are $9,866.

    The average rate for the prior week (2024-12-06) was 6.44% and one month ago for the week of 2024-11-08, the average rate was 6.41%.

    The average rate one year ago was 6.82%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.55%.

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

    Bakersfield 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 Bakersfield level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 544 6.20% $14,789
    QUICKEN LOANS, LLC 214 6.25% $12,585
    Sierra Pacific Mortgage Company, Inc. 195 6.32% $15,851
    DHI MORTGAGE COMPANY, LTD. 104 5.64% $11,089
    LOANDEPOT.COM, LLC 91 6.30% $14,121
    OCMBC, INC. 86 6.77% $14,042
    Century Mortgage Company DBA Century Lending Company 86 6.41% $13,219
    RESIDENTIAL BANCORP 82 6.56% $15,433
    EAGLE HOME MORTGAGE, LLC 74 5.87% $14,723
    CROSSCOUNTRY MORTGAGE, LLC 60 6.72% $15,052
    BECKAM FUNDING CORP. 57 7.10% $18,295
    PENNYMAC LOAN SERVICES, LLC 52 6.25% $14,781
    SUMMIT FUNDING, INC. 52 6.49% $17,272
    Paramount Residential Mortgage Group, Inc. 46 6.57% $13,689
    Golden Empire Mortgage, Inc. 42 6.59% $15,451
    DIGNIFIED HOME LOANS, LLC 35 6.61% $12,856
    AMERICAN FINANCIAL NETWORK, INC. 33 6.31% $14,085
    MLD MORTGAGE INC. 33 6.72% $15,496
    PLANET HOME LENDING, LLC 33 6.24% $12,021
    AMERICAN PACIFIC MORTGAGE CORPORATION 32 6.57% $15,780
    GUARANTEED RATE, INC. 32 6.50% $12,833
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 30 5.32% $16,113
    BROKER SOLUTIONS, INC. 29 6.37% $12,235
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 28 6.53% $13,464
    NEWREZ LLC 27 6.38% $42,681
    POINT Mortgage 27 6.48% $11,880
    Equity Prime Mortgage LLC 26 6.93% $11,699
    MICHIGAN MUTUAL, INC. 24 6.39% $14,196
    HOMEBRIDGE FINANCIAL SERVICES, INC. 24 6.43% $13,512
    Mr. Cooper ( Nationstar Mortgage ) 23 6.06% $15,843
    Platinum Home Mortgage Corporation 23 6.26% $15,058
    FREEDOM MORTGAGE CORPORATION 22 6.86% $14,156
    GUILD MORTGAGE COMPANY 21 6.01% $10,830
    SECURITYNATIONAL MORTGAGE COMPANY 20 6.28% $17,777
    Nations Lending Corporation 19 6.77% $11,208
    SUN WEST MORTGAGE COMPANY, INC. 17 6.37% $15,772
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 15 6.48% $13,076
    PLAZA HOME MORTGAGE, INC. 14 6.46% $13,915
    Carrington Mortgage Services, LLC 14 6.44% $15,600
    AMERISAVE MORTGAGE CORPORATION 13 6.13% $17,059
    CASTLE & COOKE MORTGAGE, LLC 12 6.15% $17,175
    DRAPER AND KRAMER MORTGAGE CORP. 12 6.36% $15,920
    AUGUSTA FINANCIAL, INC. 12 6.08% $13,464
    JMAC LENDING, INC. 12 6.47% $14,673
    CARDINAL FINANCIAL 11 6.26% $15,426
    NATIONS DIRECT MORTGAGE, LLC 11 6.38% $14,909
    CAMPOS FINANCIAL CORP. 11 6.60% $12,817
    CALCON MUTUAL MORTGAGE LLC 10 6.80% $16,323
    ALAMEDA MORTGAGE CORPORATION 10 6.47% $14,996
    Performance Financial, Inc. 9 6.61% $18,199
    MUTUAL OF OMAHA MORTGAGE, INC. 9 6.11% $15,464
    Hometown Equity Mortgage, LLC 9 6.10% $16,221
    LOANPAL, LLC 9 6.32% $12,876
    PRIMARY RESIDENTIAL MORTGAGE, INC. 9 6.47% $14,803
    PRIMELENDING, A PLAINSCAPITAL COMPANY 9 6.57% $14,950
    Flagstar Bank, FSB 7 6.86% $11,604
    MOUNTAIN WEST FINANCIAL, INC. 7 6.89% $16,616
    MORTGAGE MANAGEMENT CONSULTANTS, INC. 7 6.55% $11,509
    Franklin Loan Corporation 7 6.16% $16,627
    Lakeview Community Capital, LLC 6 6.08% $12,292
    MANN FINANCIAL INC. 5 7.08% $11,305
    NETWORK CAPITAL FUNDING CORPORATION 5 6.13% $13,463
    CMG MORTGAGE, INC. 5 6.80% $15,008
    GENEVA FINANCIAL, LLC 4 6.94% $12,771
    MOVEMENT MORTGAGE, LLC 4 5.66% $10,933
    AMERICAN FINANCING CORPORATION 4 6.25% $12,997
    PANORAMA MORTGAGE GROUP, LLC 4 6.94% $13,730
    Prosperity Home Mortgage, LLC 4 6.87% $11,810
    BAY EQUITY LLC 4 6.40% $16,288
    VISION ONE MORTGAGE, INC. 4 6.25% $10,418
    ZILLOW HOME LOANS, LLC 4 6.91% $11,547
    GEO-CORP, INC. 4 7.00% $12,271
    HOME APPROVALS DIRECT, INC. 4 6.63% $18,487
    LADERA LENDING, INC. 4 6.69% $12,481
    ML Mortgage Corp. 4 6.19% $11,027
    BM Real Estate Services, Inc. 3 7.04% $13,453
    AHL FUNDING 3 6.92% $18,854
    VILLAGE CAPITAL MORTGAGE 3 5.96% $7,705
    UNION HOME MORTGAGE CORP. 3 6.38% $11,564
    BAY-VALLEY MORTGAGE GROUP 3 6.96% $13,923
    AmeriHome Mortgage Company, LLC 3 6.63% $13,713
    Armed Forces Bank 2 6.31% $16,175
    U.S. Bank 2 6.50% $9,898
    LAND HOME FINANCIAL SERVICES, INC. 2 7.31% $12,472
    TOP FLITE FINANCIAL, INC. 2 7.50% $7,374
    FBC MORTGAGE, LLC 2 4.93% $19,192
    The Loan Store, Inc. 2 6.69% $18,633
    ST FIN CORP 2 6.25% $13,626
    American Mortgage & Equity Consultants, Inc. 2 6.75% $12,933
    MID AMERICA MORTGAGE, INC. 2 6.88% $5,147
    EVERETT FINANCIAL, INC. 2 6.56% $14,818
    BANC ONE MORTGAGE CORPORATION 2 7.25% $6,238
    Mortgage Research Center, LLC 2 6.00% $10,690
    MORIA DEVELOPMENT, INC. 2 6.44% $10,467
    CHURCHILL MORTGAGE CORPORATION 2 7.50% $15,634
    EMM LOANS LLC 2 6.19% $12,929
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.38% $15,755
    HOMEXPRESS MORTGAGE CORP. 2 6.75% $13,776
    INTELLILOAN, INC. 2 7.12% $7,974
    First Standard Financial Corp. 2 6.00% $16,211
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.63% $14,853
    Wells Fargo Bank 2 5.19% $5,056
    JPMorgan Chase Bank 2 5.81% $4,720
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 7.00% $10,741
    AMCAP MORTGAGE, LTD. 1 7.25% $15,835
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $16,343
    AMERITRUST MORTGAGE CORPORATION 1 6.99% $21,988
    ARC HOME LLC 1 6.13% $10,456
    AXIA FINANCIAL, LLC 1 6.00% $13,328
    Bank of England 1 5.75% $12,558
    BEST FINANCE CAPITAL, INC. 1 5.75% $16,492
    BRIDGELOCK CAPITAL 1 7.49% $11,697
    CALIBER HOME LOANS, INC. 1 6.25% $13,747
    CANOPY MORTGAGE, LLC 1 7.25% $16,825
    CHERRY CREEK MORTGAGE, LLC 1 5.63% $6,183
    Chickasaw Community Bank 1 6.00% $14,690
    Commerce Home Mortgage, Inc. 1 6.75% $14,551
    COMMUNITY MORTGAGE FUNDING, LLC 1 7.00% $10,830
    CUSTOMER SERVICE MORTGAGE CORPORATION 1 6.13% $14,639
    DATA MORTGAGE, INC. 1 6.13% $8,288
    ENVOY MORTGAGE, LTD 1 6.63% $11,385
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 6.75% $11,404
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.75% $23,085
    First Bank 1 6.63% $9,613
    First-Citizens Bank & Trust Company 1 5.88% $8,984
    First Federal Bank 1 5.50% $14,368
    FIRST NATIONS HOME FINANCE CORPORATION 1 6.25% $12,152
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 8.25% $10,395
    GUARANTEED RATE AFFINITY, LLC 1 7.00% $16,786
    HOMESIDE FINANCIAL, LLC 1 6.88% $16,044
    iCore Lending, Inc. 1 6.25% $22,173
    INTERCAP LENDING INC. 1 5.63% $17,299
    ISERVE RESIDENTIAL LENDING, LLC 1 7.25% $11,107
    JMJ FINANCIAL GROUP 1 6.25% $11,807
    KINECTA 1 6.13% $12,482
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $25,635
    LEADERONE FINANCIAL CORPORATION 1 6.63% $14,544
    LOANLEADERS OF AMERICA, INC. 1 5.63% $14,816
    MK LENDING CORP. 1 6.50% $20,198
    MORTGAGE 1 INCORPORATED 1 7.50% $13,746
    MORTGAGE CAPITAL PARTNERS, INC. 1 7.38% $13,633
    M&T Bank 1 6.63% $12,343
    MYCUMORTGAGE, LLC 1 7.00% $14,922
    NBKC BANK 1 6.00% $9,304
    Neighborhood Loans, Inc. 1 7.25% $9,529
    NEW WAVE LENDING GROUP INC 1 7.00% $17,741
    NexBank 1 5.75% $17,963
    NMSI, INC. 1 6.00% $14,123
    NORWICH COMMERCIAL GROUP, INC. 1 6.63% $10,849
    OCEANSIDE MORTGAGE COMPANY 1 5.50% $9,564
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.25% $10,590
    PHH Mortgage Corporation 1 6.63% $11,020
    Plains Commerce Bank 1 7.13% $11,857
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.25% $16,772
    SCHOOLSFIRST 1 6.88% $9,896
    The Federal Savings Bank 1 6.00% $19,680
    TJC Mortgage, Inc. 1 5.75% $19,817
    TOTAL MORTGAGE SERVICES, LLC 1 7.25% $12,404
    VERITAS FUNDING, LLC 1 5.75% $11,691
    WALL FINANCIAL, INC. 1 6.50% $11,870

    The top Bakersfield FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 544 FHA loans originated. Their average total fees are $14,789, which is $2,203 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Bakersfield FHA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($10,830), DHI MORTGAGE COMPANY, LTD. ($11,089), Nations Lending Corporation ($11,208), Equity Prime Mortgage LLC ($11,699) and POINT Mortgage ($11,880).

    The lowest rate Bakersfield FHA lenders (with over 10 loans originated) are K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. (5.32%), DHI MORTGAGE COMPANY, LTD. (5.64%), EAGLE HOME MORTGAGE, LLC (5.87%), GUILD MORTGAGE COMPANY (6.01%) and Mr. Cooper ( Nationstar Mortgage ) (6.06%).

    Bakersfield FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bakersfield (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 $236,097 (4.9%) $279,801 (2.9%) 0.88 2,062
    2018-02-01 $239,950 (4.8%) $280,656 (1.8%) 0.87 2,097
    2018-03-01 $250,000 (5.0%) $289,500 (2.2%) 0.88 2,130
    2018-04-01 $259,450 (5.9%) $293,811 (1.4%) 0.88 2,227
    2018-05-01 $262,450 (5.2%) $297,692 (2.6%) 0.88 2,229
    2018-06-01 $263,000 (5.2%) $296,432 (2.6%) 0.88 2,343
    2018-07-01 $259,900 (4.0%) $293,478 (2.0%) 0.87 2,441
    2018-08-01 $256,500 (2.9%) $290,070 (1.6%) 0.86 2,511
    2018-09-01 $254,900 (2.4%) $290,435 (2.2%) 0.86 2,561
    2018-10-01 $250,000 (0.7%) $288,148 (0.9%) 0.85 2,495
    2018-11-01 $249,900 (2.5%) $286,401 (1.1%) 0.85 2,437
    2018-12-01 $249,000 (4.2%) $285,236 (0.6%) 0.86 2,274
    2019-01-01 $245,000 (3.8%) $282,141 (0.8%) 0.85 2,087
    2019-02-01 $245,000 (2.1%) $283,726 (1.1%) 0.83 2,072
    2019-03-01 $252,400 (1.0%) $292,326 (1.0%) 0.83 2,109
    2019-04-01 $261,308 (0.7%) $303,499 (3.3%) 0.83 2,189
    2019-05-01 $262,950 (0.2%) $304,467 (2.3%) 0.82 2,273
    2019-06-01 $264,900 (0.7%) $304,527 (2.7%) 0.83 2,353
    2019-07-01 $266,913 (2.7%) $306,832 (4.6%) 0.84 2,387
    2019-08-01 $262,818 (2.5%) $304,078 (4.8%) 0.83 2,346
    2019-09-01 $259,545 (1.8%) $303,742 (4.6%) 0.83 2,247
    2019-10-01 $258,089 (3.2%) $303,664 (5.4%) 0.83 2,173
    2019-11-01 $258,700 (3.5%) $308,427 (7.7%) 0.85 2,035
    2019-12-01 $258,500 (3.8%) $377,201 (32.2%) 0.86 1,861
    2020-01-01 $259,450 (5.9%) $305,015 (8.1%) 0.87 1,646
    2020-02-01 $259,900 (6.1%) $315,114 (11.1%) 0.85 1,583
    2020-03-01 $269,950 (7.0%) $324,409 (11.0%) 0.85 1,608
    2020-04-01 $269,450 (3.1%) $320,455 (5.6%) 0.84 1,670
    2020-05-01 $269,900 (2.6%) $324,868 (6.7%) 0.82 1,596
    2020-06-01 $271,238 (2.4%) $333,511 (9.5%) 0.80 1,413
    2020-07-01 $279,950 (4.9%) $344,330 (12.2%) 0.81 1,286
    2020-08-01 $295,000 (12.2%) $349,328 (14.9%) 0.85 1,139
    2020-09-01 $300,000 (15.6%) $362,750 (19.4%) 0.86 1,172
    2020-10-01 $299,900 (16.2%) $364,117 (19.9%) 0.86 1,164
    2020-11-01 $299,900 (15.9%) $353,211 (14.5%) 0.88 1,075
    2020-12-01 $287,000 (11.0%) $337,567 (-10.5%) 0.85 1,002
    2021-01-01 $279,000 (7.5%) $330,098 (8.2%) 0.83 891
    2021-02-01 $284,500 (9.5%) $345,197 (9.6%) 0.83 774
    2021-03-01 $294,995 (9.3%) $353,470 (9.0%) 0.84 722
    2021-04-01 $300,500 (11.5%) $353,987 (10.5%) 0.81 751
    2021-05-01 $315,000 (16.7%) $374,042 (15.1%) 0.84 742
    2021-06-01 $313,250 (15.5%) $380,198 (14.0%) 0.82 838
    2021-07-01 $320,000 (14.3%) $380,927 (10.6%) 0.84 983
    2021-08-01 $320,000 (8.5%) $379,666 (8.7%) 0.85 1,116
    2021-09-01 $318,850 (6.3%) $379,643 (4.7%) 0.85 1,127
    2021-10-01 $329,900 (10.0%) $389,873 (7.1%) 0.88 1,173
    2021-11-01 $337,000 (12.4%) $399,366 (13.1%) 0.90 1,027
    2021-12-01 $339,950 (18.5%) $407,211 (20.6%) 0.92 919
    2022-01-01 $339,500 (21.7%) $406,001 (23.0%) 0.92 799
    2022-02-01 $349,450 (22.8%) $418,366 (21.2%) 0.91 746
    2022-03-01 $359,500 (21.9%) $424,585 (20.1%) 0.90 754
    2022-04-01 $365,000 (21.5%) $434,600 (22.8%) 0.87 874
    2022-05-01 $389,487 (23.7%) $444,796 (18.9%) 0.89 1,178
    2022-06-01 $399,450 (27.5%) $440,618 (15.9%) 0.89 1,393
    2022-07-01 $390,000 (21.9%) $434,997 (14.2%) 0.88 1,618
    2022-08-01 $389,600 (21.8%) $430,160 (13.3%) 0.90 1,699
    2022-09-01 $387,529 (21.5%) $431,012 (13.5%) 0.91 1,746
    2022-10-01 $380,000 (15.2%) $426,760 (9.5%) 0.89 1,795
    2022-11-01 $375,000 (11.3%) $427,854 (7.1%) 0.90 1,757
    2022-12-01 $370,000 (8.8%) $425,437 (4.5%) 0.91 1,488
    2023-01-01 $374,700 (10.4%) $423,949 (4.4%) 0.93 1,315
    2023-02-01 $374,504 (7.2%) $424,486 (1.5%) 0.90 1,172
    2023-03-01 $380,000 (5.7%) $431,359 (1.6%) 0.90 1,009
    2023-04-01 $390,000 (6.9%) $446,409 (2.7%) 0.91 922
    2023-05-01 $390,000 (0.1%) $450,690 (1.3%) 0.88 1,024
    2023-06-01 $392,500 (-1.7%) $456,789 (3.7%) 0.88 1,063
    2023-07-01 $399,000 (2.3%) $452,936 (4.1%) 0.91 1,130
    2023-08-01 $389,963 (0.1%) $444,484 (3.3%) 0.90 1,243
    2023-09-01 $385,000 (-0.7%) $436,210 (1.2%) 0.90 1,339
    2023-10-01 $379,950 (0.0%) $436,371 (2.3%) 0.89 1,380
    2023-11-01 $385,000 (2.7%) $445,210 (4.1%) 0.92 1,407
    2023-12-01 $384,450 (3.9%) $441,401 (3.8%) 0.94 1,325
    2024-01-01 $382,224 (2.0%) $440,229 (3.8%) 0.93 1,208
    2024-02-01 $379,950 (1.5%) $438,812 (3.4%) 0.91 1,157
    2024-03-01 $385,000 (1.3%) $440,785 (2.2%) 0.91 1,180
    2024-04-01 $397,000 (1.8%) $443,653 (-0.6%) 0.92 1,261
    2024-05-01 $408,613 (4.8%) $459,613 (2.0%) 0.92 1,330
    2024-06-01 $408,000 (4.0%) $462,614 (1.3%) 0.92 1,422
    2024-07-01 $402,473 (0.9%) $465,077 (2.7%) 0.92 1,563
    2024-08-01 $399,999 (2.6%) $462,909 (4.2%) 0.93 1,613
    2024-09-01 $399,995 (3.9%) $461,648 (5.8%) 0.94 1,689
    2024-10-01 $399,995 (5.3%) $453,780 (4.0%) 0.94 1,810
    2024-11-01 $398,700 (3.6%) $449,225 (0.9%) 0.96 1,855
    Bakersfield's median listing price for 2024-11-01 was $398,700, a difference of $13,700 (3.6%) versus the prior year and $-1,295 versus the prior month.

    Bakersfield's median listing price comes in at 96% of the national average.

    Bakersfield's average listing price for 2024-11-01 was $449,225, a difference of $4,015 (0.9%) versus the prior year and $-4,555 versus the prior month.

    For the 2024-11-01 period, Bakersfield had 1,855 MLS listings, a difference of 45 listings (2%) versus the prior month and 448 listings (32%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bakersfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 62 days 1,708 sqft
    2018-02-01 41 days 1,714 sqft
    2018-03-01 40 days 1,746 sqft
    2018-04-01 43 days 1,761 sqft
    2018-05-01 43 days 1,782 sqft
    2018-06-01 44 days 1,774 sqft
    2018-07-01 45 days 1,770 sqft
    2018-08-01 46 days 1,744 sqft
    2018-09-01 46 days 1,739 sqft
    2018-10-01 53 days 1,707 sqft
    2018-11-01 56 days 1,693 sqft
    2018-12-01 64 days 1,682 sqft
    2019-01-01 66 days 1,667 sqft
    2019-02-01 51 days 1,670 sqft
    2019-03-01 45 days 1,707 sqft
    2019-04-01 43 days 1,746 sqft
    2019-05-01 40 days 1,747 sqft
    2019-06-01 44 days 1,736 sqft
    2019-07-01 44 days 1,747 sqft
    2019-08-01 46 days 1,724 sqft
    2019-09-01 48 days 1,701 sqft
    2019-10-01 51 days 1,688 sqft
    2019-11-01 53 days 1,685 sqft
    2019-12-01 58 days 1,676 sqft
    2020-01-01 61 days 1,676 sqft
    2020-02-01 42 days 1,684 sqft
    2020-03-01 39 days 1,716 sqft
    2020-04-01 46 days 1,702 sqft
    2020-05-01 54 days 1,698 sqft
    2020-06-01 47 days 1,708 sqft
    2020-07-01 36 days 1,713 sqft
    2020-08-01 33 days 1,762 sqft
    2020-09-01 31 days 1,789 sqft
    2020-10-01 34 days 1,759 sqft
    2020-11-01 36 days 1,709 sqft
    2020-12-01 39 days 1,632 sqft
    2021-01-01 40 days 1,605 sqft
    2021-02-01 32 days 1,600 sqft
    2021-03-01 23 days 1,605 sqft
    2021-04-01 22 days 1,620 sqft
    2021-05-01 21 days 1,666 sqft
    2021-06-01 22 days 1,648 sqft
    2021-07-01 22 days 1,633 sqft
    2021-08-01 27 days 1,639 sqft
    2021-09-01 30 days 1,613 sqft
    2021-10-01 31 days 1,654 sqft
    2021-11-01 37 days 1,640 sqft
    2021-12-01 40 days 1,659 sqft
    2022-01-01 39 days 1,634 sqft
    2022-02-01 26 days 1,647 sqft
    2022-03-01 22 days 1,680 sqft
    2022-04-01 22 days 1,702 sqft
    2022-05-01 23 days 1,715 sqft
    2022-06-01 26 days 1,759 sqft
    2022-07-01 31 days 1,748 sqft
    2022-08-01 38 days 1,742 sqft
    2022-09-01 44 days 1,749 sqft
    2022-10-01 46 days 1,729 sqft
    2022-11-01 50 days 1,725 sqft
    2022-12-01 61 days 1,729 sqft
    2023-01-01 66 days 1,737 sqft
    2023-02-01 49 days 1,717 sqft
    2023-03-01 44 days 1,708 sqft
    2023-04-01 38 days 1,750 sqft
    2023-05-01 31 days 1,760 sqft
    2023-06-01 32 days 1,753 sqft
    2023-07-01 35 days 1,760 sqft
    2023-08-01 38 days 1,737 sqft
    2023-09-01 39 days 1,724 sqft
    2023-10-01 42 days 1,673 sqft
    2023-11-01 45 days 1,687 sqft
    2023-12-01 54 days 1,668 sqft
    2024-01-01 59 days 1,693 sqft
    2024-02-01 45 days 1,680 sqft
    2024-03-01 44 days 1,699 sqft
    2024-04-01 39 days 1,697 sqft
    2024-05-01 32 days 1,729 sqft
    2024-06-01 37 days 1,736 sqft
    2024-07-01 41 days 1,720 sqft
    2024-08-01 43 days 1,709 sqft
    2024-09-01 44 days 1,719 sqft
    2024-10-01 44 days 1,714 sqft
    2024-11-01 48 days 1,680 sqft
    Bakersfield's median listing age (time on market) for 2024-11-01 was 48 days. This is 6% longer than the same period one year ago.

    Bakersfield's median square footage for active listings during the 2024-11-01 period was 1,680 sqft. One year prior, the average listing was 1,687 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).