Bellingham FHA Loan Rates, Closing Costs & Stats

BELLINGHAM, WA

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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.

    Bellingham's 48 lenders originated 265 FHA loans during 2023. The total origination value was $103,495,000, with an average FHA loan value of $390,547.

    Bellingham FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Bellingham averaged 6.61% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Bellingham's average FHA mortgage closing costs are $11,018.

    The average rate for the prior week (2025-02-07) was 6.42% and one month ago for the week of 2025-01-10, the average rate was 6.68%.

    The average rate one year ago was 6.61%.

    For refis of the same type during the week of 2025-02-14, the average rate was 7.04%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MOVEMENT MORTGAGE, LLC 38 6.76% $16,643
    UNITED WHOLESALE MORTGAGE, LLC 18 6.16% $16,577
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 17 6.60% $18,805
    QUICKEN LOANS, LLC 15 6.11% $16,142
    AMERICAN PACIFIC MORTGAGE CORPORATION 13 7.15% $15,521
    GUILD MORTGAGE COMPANY 12 6.98% $17,394
    CROSSCOUNTRY MORTGAGE, LLC 12 6.48% $16,701
    HOMEBRIDGE FINANCIAL SERVICES, INC. 7 5.96% $18,886
    CANOPY MORTGAGE, LLC 7 6.77% $17,069
    PENNYMAC LOAN SERVICES, LLC 7 5.89% $15,598
    MID AMERICA MORTGAGE, INC. 6 6.92% $5,899
    BROKER SOLUTIONS, INC. 6 6.81% $16,289
    Peoples Bank 6 6.58% $15,597
    NEWREZ LLC 4 5.88% $16,362
    LEADERONE FINANCIAL CORPORATION 4 6.69% $19,463
    AMERISAVE MORTGAGE CORPORATION 4 5.81% $16,019
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.16% $15,199
    CMG MORTGAGE, INC. 3 6.58% $11,637
    LOANDEPOT.COM, LLC 3 6.63% $16,290
    Bank of the Pacific 2 6.19% $11,895
    DAS Acquisition Company, LLC 2 6.44% $14,517
    Alaska USA Federal Credit Union 2 6.75% $11,772
    GUARANTEED RATE, INC. 2 6.06% $20,334
    NFM, INC. 2 6.88% $16,775
    CALCON MUTUAL MORTGAGE LLC 2 5.75% $25,807
    U.S. Bank 1 5.50% $10,680
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $8,661
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.75% $23,358
    AXIA FINANCIAL, LLC 1 5.25% $19,240
    Banner Bank 1 6.50% $16,037
    Barrington Bank & Trust Company, N.A. 1 6.19% $11,699
    BAY EQUITY LLC 1 7.75% $18,550
    CORNERSTONE HOME LENDING, INC. 1 5.50% $16,410
    Flagstar Bank, FSB 1 6.25% $20,057
    FREEDOM MORTGAGE CORPORATION 1 5.00% $23,917
    Ixonia Bank 1 7.25% $26,014
    LAKEVIEW LOAN SERVICING, LLC 1 6.99% $12,694
    Loan Simple, Inc. 1 6.75% $25,942
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $22,254
    NATIONS DIRECT MORTGAGE, LLC 1 5.25% $26,290
    NEW DAY FINANCIAL, LLC 1 7.25% $11,907
    Paramount Residential Mortgage Group, Inc. 1 6.75% $16,693
    PENTAGON FEDERAL CREDIT UNION 1 5.63% $21,201
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.75% $12,233
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 8.25% $10,724
    RESIDENTIAL BANCORP 1 6.00% $11,315
    SUMMIT FUNDING, INC. 1 6.25% $20,239
    1st Security Bank of Washington 1 5.00% $15,777

    The top Bellingham FHA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 38 FHA loans originated. Their average total fees are $16,643, which is $66 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Bellingham FHA lenders (with over 10 loans originated) are AMERICAN PACIFIC MORTGAGE CORPORATION ($15,521), QUICKEN LOANS, LLC ($16,142), UNITED WHOLESALE MORTGAGE, LLC ($16,577), MOVEMENT MORTGAGE, LLC ($16,643) and CROSSCOUNTRY MORTGAGE, LLC ($16,701).

    The lowest rate Bellingham FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.11%), UNITED WHOLESALE MORTGAGE, LLC (6.16%), CROSSCOUNTRY MORTGAGE, LLC (6.48%), EVERGREEN MONEYSOURCE MORTGAGE COMPANY (6.60%) and MOVEMENT MORTGAGE, LLC (6.76%).

    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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bellingham (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 $422,894 (7.1%) $517,958 (-4.8%) 1.57 457
    2018-02-01 $427,916 (9.4%) $494,876 (-9.3%) 1.55 441
    2018-03-01 $425,000 (7.9%) $500,109 (-8.3%) 1.49 450
    2018-04-01 $439,475 (10.1%) $512,710 (-5.1%) 1.49 478
    2018-05-01 $444,925 (11.5%) $528,770 (-0.6%) 1.49 532
    2018-06-01 $445,000 (11.5%) $538,100 (1.7%) 1.48 591
    2018-07-01 $440,500 (3.9%) $533,668 (-0.8%) 1.47 630
    2018-08-01 $421,000 (0.4%) $522,524 (-3.0%) 1.41 666
    2018-09-01 $429,000 (4.9%) $531,273 (-0.2%) 1.44 663
    2018-10-01 $429,675 (2.5%) $561,683 (7.1%) 1.46 655
    2018-11-01 $419,125 (1.2%) $554,843 (7.5%) 1.42 632
    2018-12-01 $414,900 (1.2%) $554,611 (9.1%) 1.43 577
    2019-01-01 $414,950 (-1.9%) $559,550 (8.0%) 1.43 504
    2019-02-01 $427,500 (-0.1%) $568,775 (14.9%) 1.44 502
    2019-03-01 $425,671 (0.2%) $563,976 (12.8%) 1.39 526
    2019-04-01 $425,171 (-3.3%) $559,811 (9.2%) 1.35 562
    2019-05-01 $444,675 (-0.1%) $570,850 (8.0%) 1.39 612
    2019-06-01 $450,000 (1.1%) $572,570 (6.4%) 1.41 679
    2019-07-01 $448,487 (1.8%) $565,867 (6.0%) 1.40 723
    2019-08-01 $447,545 (6.3%) $558,671 (6.9%) 1.42 781
    2019-09-01 $448,364 (4.5%) $558,859 (5.2%) 1.43 840
    2019-10-01 $448,909 (4.5%) $558,481 (-0.6%) 1.45 871
    2019-11-01 $449,950 (7.4%) $556,269 (0.3%) 1.48 793
    2019-12-01 $437,250 (5.4%) $547,773 (-1.2%) 1.46 662
    2020-01-01 $444,675 (7.2%) $571,874 (2.2%) 1.49 543
    2020-02-01 $448,000 (4.8%) $556,400 (-2.2%) 1.47 522
    2020-03-01 $445,000 (4.5%) $554,564 (-1.7%) 1.40 573
    2020-04-01 $439,450 (3.4%) $549,065 (-1.9%) 1.38 622
    2020-05-01 $439,900 (-1.1%) $548,392 (-3.9%) 1.34 660
    2020-06-01 $454,500 (1.0%) $573,392 (0.1%) 1.34 687
    2020-07-01 $464,950 (3.7%) $595,001 (5.2%) 1.35 680
    2020-08-01 $468,750 (4.7%) $588,022 (5.3%) 1.34 620
    2020-09-01 $460,425 (2.7%) $581,272 (4.0%) 1.32 565
    2020-10-01 $465,000 (3.6%) $602,693 (7.9%) 1.33 526
    2020-11-01 $444,950 (-1.1%) $598,974 (7.7%) 1.30 346
    2020-12-01 $444,975 (1.8%) $588,546 (7.4%) 1.32 309
    2021-01-01 $426,000 (-4.2%) $603,751 (5.6%) 1.27 249
    2021-02-01 $435,000 (-2.9%) $628,372 (12.9%) 1.27 254
    2021-03-01 $474,475 (6.6%) $666,014 (20.1%) 1.35 253
    2021-04-01 $494,500 (12.5%) $675,563 (23.0%) 1.34 244
    2021-05-01 $525,000 (19.4%) $713,375 (30.1%) 1.39 269
    2021-06-01 $543,750 (19.6%) $742,078 (29.4%) 1.43 292
    2021-07-01 $579,500 (24.6%) $805,577 (35.4%) 1.53 268
    2021-08-01 $600,000 (28.0%) $825,561 (40.4%) 1.60 283
    2021-09-01 $612,500 (33.0%) $821,753 (41.4%) 1.63 279
    2021-10-01 $599,900 (29.0%) $806,732 (33.9%) 1.60 276
    2021-11-01 $599,825 (34.8%) $809,161 (35.1%) 1.60 233
    2021-12-01 $599,450 (34.7%) $826,450 (40.4%) 1.62 161
    2022-01-01 $585,000 (37.3%) $886,385 (46.8%) 1.58 120
    2022-02-01 $662,494 (52.3%) $959,469 (52.7%) 1.72 126
    2022-03-01 $646,825 (36.3%) $919,265 (38.0%) 1.62 163
    2022-04-01 $649,000 (31.2%) $855,378 (26.6%) 1.55 214
    2022-05-01 $697,000 (32.8%) $873,039 (22.4%) 1.59 299
    2022-06-01 $674,375 (24.0%) $832,217 (12.2%) 1.50 426
    2022-07-01 $647,000 (11.7%) $797,970 (-0.9%) 1.46 585
    2022-08-01 $646,000 (7.7%) $807,622 (-2.2%) 1.49 624
    2022-09-01 $637,125 (4.0%) $814,152 (-0.9%) 1.49 602
    2022-10-01 $638,975 (6.5%) $818,858 (1.5%) 1.50 584
    2022-11-01 $630,500 (5.1%) $826,388 (2.1%) 1.52 541
    2022-12-01 $618,000 (3.1%) $818,528 (-1.0%) 1.53 460
    2023-01-01 $609,987 (4.3%) $824,614 (-7.0%) 1.51 366
    2023-02-01 $599,000 (-9.6%) $799,626 (-16.7%) 1.45 366
    2023-03-01 $621,000 (-4.0%) $816,964 (-11.1%) 1.46 378
    2023-04-01 $650,000 (0.2%) $847,225 (-1.0%) 1.51 375
    2023-05-01 $672,000 (-3.6%) $863,492 (-1.1%) 1.53 456
    2023-06-01 $652,274 (-3.3%) $833,365 (0.1%) 1.47 503
    2023-07-01 $659,925 (2.0%) $843,914 (5.8%) 1.50 499
    2023-08-01 $686,975 (6.3%) $876,804 (8.6%) 1.58 525
    2023-09-01 $698,900 (9.7%) $888,539 (9.1%) 1.63 498
    2023-10-01 $699,000 (9.4%) $915,437 (11.8%) 1.65 493
    2023-11-01 $698,500 (10.8%) $924,235 (11.8%) 1.66 491
    2023-12-01 $688,944 (11.5%) $932,752 (14.0%) 1.68 398
    2024-01-01 $698,750 (14.6%) $950,586 (15.3%) 1.71 317
    2024-02-01 $697,475 (16.4%) $965,286 (20.7%) 1.68 296
    2024-03-01 $725,000 (16.8%) $984,179 (20.5%) 1.71 297
    2024-04-01 $723,500 (11.3%) $974,252 (15.0%) 1.68 379
    2024-05-01 $698,375 (3.9%) $948,588 (9.9%) 1.61 471
    2024-06-01 $699,995 (7.3%) $951,965 (14.2%) 1.61 502
    2024-07-01 $697,450 (5.7%) $894,968 (6.1%) 1.59 615
    2024-08-01 $687,000 (0.0%) $875,578 (-0.1%) 1.60 646
    2024-09-01 $686,500 (-1.8%) $861,160 (-3.1%) 1.62 641
    2024-10-01 $692,450 (-0.9%) $857,955 (-6.3%) 1.63 630
    2024-11-01 $679,000 (-2.8%) $842,571 (-8.8%) 1.63 576
    2024-12-01 $656,750 (-4.7%) $815,006 (-12.6%) 1.63 491
    2025-01-01 $650,000 (-7.0%) $794,368 (-16.4%) 0.00 413
    Bellingham's median listing price for 2025-01-01 was $650,000, a difference of $-48,750 (-7.0%) versus the prior year and $-6,750 versus the prior month.

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

    Bellingham's average listing price for 2025-01-01 was $794,368, a difference of $-156,218 (-16.4%) versus the prior year and $-20,638 versus the prior month.

    For the 2025-01-01 period, Bellingham had 413 MLS listings, a difference of -78 listings (-16%) versus the prior month and 96 listings (30%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bellingham (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 81 days 1,908 sqft
    2018-02-01 75 days 1,929 sqft
    2018-03-01 47 days 1,890 sqft
    2018-04-01 41 days 1,899 sqft
    2018-05-01 37 days 1,936 sqft
    2018-06-01 37 days 1,956 sqft
    2018-07-01 42 days 1,940 sqft
    2018-08-01 40 days 1,836 sqft
    2018-09-01 49 days 1,866 sqft
    2018-10-01 53 days 1,948 sqft
    2018-11-01 57 days 1,908 sqft
    2018-12-01 71 days 1,847 sqft
    2019-01-01 72 days 1,820 sqft
    2019-02-01 64 days 1,901 sqft
    2019-03-01 54 days 1,864 sqft
    2019-04-01 43 days 1,810 sqft
    2019-05-01 39 days 1,870 sqft
    2019-06-01 40 days 1,920 sqft
    2019-07-01 44 days 1,917 sqft
    2019-08-01 48 days 1,903 sqft
    2019-09-01 53 days 1,897 sqft
    2019-10-01 57 days 1,893 sqft
    2019-11-01 64 days 1,904 sqft
    2019-12-01 77 days 1,837 sqft
    2020-01-01 92 days 1,835 sqft
    2020-02-01 87 days 1,821 sqft
    2020-03-01 41 days 1,832 sqft
    2020-04-01 41 days 1,779 sqft
    2020-05-01 54 days 1,807 sqft
    2020-06-01 56 days 1,815 sqft
    2020-07-01 46 days 1,848 sqft
    2020-08-01 45 days 1,837 sqft
    2020-09-01 44 days 1,764 sqft
    2020-10-01 44 days 1,785 sqft
    2020-11-01 57 days 1,715 sqft
    2020-12-01 67 days 1,633 sqft
    2021-01-01 77 days 1,565 sqft
    2021-02-01 54 days 1,592 sqft
    2021-03-01 39 days 1,662 sqft
    2021-04-01 36 days 1,647 sqft
    2021-05-01 28 days 1,744 sqft
    2021-06-01 28 days 1,790 sqft
    2021-07-01 33 days 1,832 sqft
    2021-08-01 30 days 1,880 sqft
    2021-09-01 35 days 1,882 sqft
    2021-10-01 34 days 1,882 sqft
    2021-11-01 39 days 1,889 sqft
    2021-12-01 51 days 1,858 sqft
    2022-01-01 46 days 1,712 sqft
    2022-02-01 29 days 1,940 sqft
    2022-03-01 23 days 1,863 sqft
    2022-04-01 22 days 1,857 sqft
    2022-05-01 22 days 1,903 sqft
    2022-06-01 23 days 1,852 sqft
    2022-07-01 27 days 1,830 sqft
    2022-08-01 36 days 1,872 sqft
    2022-09-01 44 days 1,877 sqft
    2022-10-01 46 days 1,904 sqft
    2022-11-01 58 days 1,910 sqft
    2022-12-01 65 days 1,892 sqft
    2023-01-01 79 days 1,870 sqft
    2023-02-01 76 days 1,817 sqft
    2023-03-01 46 days 1,872 sqft
    2023-04-01 44 days 1,864 sqft
    2023-05-01 37 days 1,990 sqft
    2023-06-01 39 days 1,921 sqft
    2023-07-01 44 days 1,951 sqft
    2023-08-01 42 days 1,946 sqft
    2023-09-01 48 days 1,979 sqft
    2023-10-01 50 days 1,996 sqft
    2023-11-01 56 days 1,977 sqft
    2023-12-01 71 days 1,969 sqft
    2024-01-01 86 days 1,967 sqft
    2024-02-01 73 days 1,960 sqft
    2024-03-01 44 days 1,922 sqft
    2024-04-01 32 days 1,914 sqft
    2024-05-01 26 days 1,916 sqft
    2024-06-01 33 days 1,866 sqft
    2024-07-01 35 days 1,850 sqft
    2024-08-01 40 days 1,808 sqft
    2024-09-01 51 days 1,857 sqft
    2024-10-01 59 days 1,892 sqft
    2024-11-01 60 days 1,826 sqft
    2024-12-01 69 days 1,778 sqft
    2025-01-01 0 days 1,770 sqft
    Bellingham's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Bellingham's median square footage for active listings during the 2025-01-01 period was 1,770 sqft. One year prior, the average listing was 1,967 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).