Bakersfield FHA Loan Rates, Closing Costs & Stats
BAKERSFIELD, CA
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
0.1%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Bakersfield's average FHA mortgage closing costs are $9,866.
The average rate for the prior week (2024-11-22) was
6.29% and
one month ago for the week of 2024-10-25, the
average rate was 6.27%.
The average rate one year ago was 6.96%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.07%.
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.
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. LouisDate | 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 |
Bakersfield's median listing price comes in at 94% of the national average.
Bakersfield's average listing price for 2024-10-01 was $453,780, a difference of $17,409 (4.0%) versus the prior year and $-7,868 versus the prior month.
For the 2024-10-01 period, Bakersfield had 1,810 MLS listings, a difference of 121 listings (7%) versus the prior month and 430 listings (31%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Bakersfield (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 |
Bakersfield's median square footage for active listings during the 2024-10-01 period was 1,714 sqft. One year prior, the average listing was 1,673 sqft.