Bellingham FHA Loan Rates, Closing Costs & Stats

BELLINGHAM, WA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits

    • 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.

    Bellingham's 60 lenders originated 325 FHA loans during 2024. The total origination value was $136,195,000, with an average FHA loan value of $419,062.

    Bellingham FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Bellingham averaged 0.03% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Bellingham's average FHA mortgage closing costs are $11,543.

    The average rate for the prior week (2025-06-27) was 6.81% and one month ago for the week of 2025-05-30, the average rate was 6.69%.

    The average rate one year ago was 7.01%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.23%.

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

    Bellingham 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 Bellingham level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    MOVEMENT MORTGAGE, LLC 39 6.54% $15,828
    UNITED WHOLESALE MORTGAGE, LLC 34 5.95% $17,738
    QUICKEN LOANS, LLC 23 6.15% $15,660
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 13 6.82% $18,554
    GUILD MORTGAGE COMPANY 13 6.89% $16,929
    CMG MORTGAGE, INC. 11 6.26% $15,111
    NEWREZ LLC 10 6.39% $14,002
    PENNYMAC LOAN SERVICES, LLC 10 6.06% $14,956
    BROKER SOLUTIONS, INC. 8 6.63% $17,990
    MID AMERICA MORTGAGE, INC. 5 6.60% $7,889
    Loan Simple, Inc. 5 6.38% $11,814
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 5 6.70% $16,953
    CANOPY MORTGAGE, LLC 5 6.50% $16,361
    CROSSCOUNTRY MORTGAGE, LLC 5 7.18% $13,486
    ENVOY MORTGAGE, LTD 5 6.90% $14,810
    GUARANTEED RATE AFFINITY, LLC 4 6.28% $14,098
    LOANDEPOT.COM, LLC 4 6.44% $18,910
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.71% $13,707
    GUARANTEED RATE, INC. 3 5.90% $13,624
    FREEDOM MORTGAGE CORPORATION 3 5.75% $16,275
    Paramount Residential Mortgage Group, Inc. 3 6.41% $18,196
    ZILLOW HOME LOANS, LLC 2 6.25% $14,048
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.12% $13,431
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.75% $18,012
    Banner Bank 2 6.06% $12,833
    CALCON MUTUAL MORTGAGE LLC 2 6.56% $28,307
    HOMEAMERICAN MORTGAGE CORPORATION 2 4.69% $10,199
    KeyBank 2 6.38% $12,455
    LADERA LENDING, INC. 2 6.19% $16,880
    NATIONS DIRECT MORTGAGE, LLC 2 5.69% $22,265
    Plains Commerce Bank 2 7.13% $14,550
    SUN WEST MORTGAGE COMPANY, INC. 2 6.13% $13,953
    The Loan Store, Inc. 2 6.06% $17,820
    HOMESTEAD FUNDING CORP. 1 5.63% $9,075
    Gateway First Bank 1 6.50% $20,634
    MORTGAGE EXPRESS, LLC 1 5.63% $14,649
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $27,747
    First Federal Bank 1 6.75% $21,125
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $27,240
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $31,034
    VILLAGE CAPITAL MORTGAGE 1 6.88% $14,004
    DIRECTORS MORTGAGE, INC. 1 5.88% $21,518
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 7.50% $17,762
    Cornerstone First Mortgage, Inc 1 6.13% $14,788
    Century Mortgage Company DBA Century Lending Company 1 5.75% $9,348
    V.I.P. MORTGAGE, INC. 1 6.13% $19,117
    PLANET HOME LENDING, LLC 1 6.75% $10,761
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $13,488
    Bank of the Pacific 1 6.38% $10,978
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.75% $11,191
    SCENIC OAKS FUNDING, INC. 1 6.63% $11,132
    WASHINGTON STATE EMPLOYEES Credit Union 1 5.25% $9,172
    Alaska USA Federal Credit Union 1 6.25% $13,207
    UNITED MORTGAGE CORP 1 6.25% $18,902
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $15,008
    U.S. Bank 1 5.88% $19,948
    Lakeview Community Capital, LLC 1 5.75% $11,509
    LAND HOME FINANCIAL SERVICES, INC. 1 5.75% $13,046
    HomeStreet Bank 1 5.13% $21,428
    LOANPAL, LLC 1 5.25% $22,476

    The top Bellingham FHA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 39 FHA loans originated. Their average total fees are $15,828, which is $1,910 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Bellingham FHA lenders (with over 10 loans originated) are NEWREZ LLC ($14,002), PENNYMAC LOAN SERVICES, LLC ($14,956), CMG MORTGAGE, INC. ($15,111), QUICKEN LOANS, LLC ($15,660) and MOVEMENT MORTGAGE, LLC ($15,828).

    The lowest rate Bellingham FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.95%), PENNYMAC LOAN SERVICES, LLC (6.06%), QUICKEN LOANS, LLC (6.15%), CMG MORTGAGE, INC. (6.26%) and NEWREZ LLC (6.39%).

    Bellingham FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BELLINGHAM, WA WHATCOM 2022 $514,050 $658,050 $795,450 $988,550
    BELLINGHAM, WA WHATCOM 2023 $603,750 $772,900 $934,250 $1,161,050

    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).