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 6.64% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.36% and one month ago for the week of 2024-03-08, the average rate was 6.3%.

The average rate one year ago was 6.03%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.81%.

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
Bakersfield's median listing price for 2024-03-01 was $385,000, a difference of $5,000 (1.3%) versus the prior year and $5,050 versus the prior month.

Bakersfield's median listing price comes in at 91% of the national average.

Bakersfield's average listing price for 2024-03-01 was $440,785, a difference of $9,426 (2.2%) versus the prior year and $1,973 versus the prior month.

For the 2024-03-01 period, Bakersfield had 1,180 MLS listings, a difference of 23 listings (2%) versus the prior month and 171 listings (17%) 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 1,698 sqft
Bakersfield's median listing age (time on market) for 2024-03-01 was 44 days. This is 0% longer than the same period one year ago.

Bakersfield's median square footage for active listings during the 2024-03-01 period was 1,698 sqft. One year prior, the average listing was 1,708 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).