Bend FHA Loan Rates, Closing Costs & Stats

BEND, OR

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.

Bend's 66 lenders originated 396 FHA loans during 2023. The total origination value was $165,700,000, with an average FHA loan value of $418,434.

Bend FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Bend averaged 6.87% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Bend's average FHA mortgage closing costs are $11,332.

The average rate for the prior week (2024-04-05) was 6.8% and one month ago for the week of 2024-03-08, the average rate was 6.64%.

The average rate one year ago was 5.97%.

For refis of the same type during the week of 2024-04-12, the average rate was 7.05%.

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

Bend 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 Bend level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 45 6.06% $18,401
GUILD MORTGAGE COMPANY 37 6.32% $21,277
QUICKEN LOANS, LLC 30 6.15% $15,541
LOANDEPOT.COM, LLC 16 6.28% $19,719
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.01% $16,641
AMERICAN PACIFIC MORTGAGE CORPORATION 13 6.25% $19,847
CMG MORTGAGE, INC. 12 6.39% $15,463
NATIONS DIRECT MORTGAGE, LLC 11 6.00% $16,090
MOVEMENT MORTGAGE, LLC 10 6.94% $17,581
CANOPY MORTGAGE, LLC 7 6.19% $19,396
SUMMIT FUNDING, INC. 6 6.46% $20,126
PREMIER MORTGAGE RESOURCES, L.L.C. 6 5.93% $24,544
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.05% $19,747
The Loan Store, Inc. 5 6.95% $20,841
Willamette Valley Bank 5 6.28% $18,089
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 5 6.25% $18,272
NEWREZ LLC 5 6.85% $11,188
Mr. Cooper ( Nationstar Mortgage ) 5 6.03% $20,924
PENNYMAC LOAN SERVICES, LLC 4 5.66% $19,309
LEADERONE FINANCIAL CORPORATION 4 6.88% $19,851
AXIA FINANCIAL, LLC 4 6.56% $22,349
MANN FINANCIAL INC. 4 6.34% $17,053
DIRECTORS MORTGAGE, INC. 4 6.53% $21,419
MORTGAGE EXPRESS, LLC 3 6.04% $15,836
GUARANTEED RATE, INC. 3 5.96% $16,395
LPMC, LLC 3 6.92% $13,171
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 5.67% $19,220
CHURCHILL MORTGAGE CORPORATION 3 6.00% $17,520
DHI MORTGAGE COMPANY, LTD. 3 5.88% $20,014
EAGLE HOME MORTGAGE, LLC 3 5.21% $19,527
Century Mortgage Company DBA Century Lending Company 3 6.71% $14,600
GENEVA FINANCIAL, LLC 3 6.75% $23,820
Golden Empire Mortgage, Inc. 3 7.04% $21,552
Paramount Residential Mortgage Group, Inc. 2 7.56% $17,412
CARDINAL FINANCIAL 2 6.00% $36,524
Commerce Home Mortgage, Inc. 2 5.94% $21,218
CROSSCOUNTRY MORTGAGE, LLC 2 7.00% $20,051
Mortgage Research Center, LLC 2 6.81% $15,654
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.50% $14,536
Nations Lending Corporation 2 6.44% $9,798
PACIFIC RESIDENTIAL MORTGAGE, LLC 2 6.19% $18,421
ACADEMY MORTGAGE CORPORATION 2 6.50% $18,016
PLAZA HOME MORTGAGE, INC. 2 7.63% $18,801
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.50% $21,688
Prosperity Home Mortgage, LLC 2 6.63% $17,892
U.S. Bank 2 6.44% $9,320
Washington Trust Bank 2 5.56% $19,593
OnPoint Community Credit Union 1 6.88% $16,468
The Federal Savings Bank 1 6.50% $29,072
Bank of England 1 7.13% $11,817
Equity Prime Mortgage LLC 1 7.75% $20,720
Umpqua Bank 1 7.00% $11,841
Capital Bank 1 6.75% $28,552
AMERISAVE MORTGAGE CORPORATION 1 5.75% $10,605
PRIORITY HOME LENDING, LLC 1 5.38% $29,928
AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $24,953
MID AMERICA MORTGAGE, INC. 1 6.63% $5,907
MASON MCDUFFIE MORTGAGE CORPORATION 1 6.75% $12,704
CALIBER HOME LOANS, INC. 1 5.25% $19,508
Loan Simple, Inc. 1 7.13% $18,400
LAKEVIEW LOAN SERVICING, LLC 1 5.75% $21,514
Sierra Pacific Mortgage Company, Inc. 1 5.00% $19,106
GSF Mortgage Corporation 1 6.13% $19,974
BAY EQUITY LLC 1 6.75% $16,585
Flagstar Bank, FSB 1 5.75% $16,325
NOVA FINANCIAL & INVESTMENT CORPORATION 1 7.25% $12,987

The top Bend FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 45 FHA loans originated. Their average total fees are $18,401, which is $2,876 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Bend FHA lenders (with over 10 loans originated) are CMG MORTGAGE, INC. ($15,463), QUICKEN LOANS, LLC ($15,541), NATIONS DIRECT MORTGAGE, LLC ($16,090), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($16,641) and MOVEMENT MORTGAGE, LLC ($17,581).

The lowest rate Bend FHA lenders (with over 10 loans originated) are NATIONS DIRECT MORTGAGE, LLC (6.00%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.01%), UNITED WHOLESALE MORTGAGE, LLC (6.06%), QUICKEN LOANS, LLC (6.15%) and AMERICAN PACIFIC MORTGAGE CORPORATION (6.25%).

Bend FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
BEND, OR DESCHUTES 2022 $569,250 $728,750 $880,900 $1,094,700
BEND, OR DESCHUTES 2023 $690,000 $883,300 $1,067,750 $1,326,950

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Bend (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 $449,588 (5.8%) $625,632 (3.6%) 1.67 1,208
2018-02-01 $449,936 (6.5%) $629,561 (5.8%) 1.63 1,182
2018-03-01 $459,000 (4.5%) $633,098 (3.7%) 1.61 1,310
2018-04-01 $474,409 (6.5%) $647,983 (4.9%) 1.61 1,399
2018-05-01 $474,963 (5.2%) $644,799 (5.6%) 1.59 1,520
2018-06-01 $489,000 (3.5%) $646,527 (2.4%) 1.63 1,661
2018-07-01 $489,000 (3.0%) $652,622 (2.9%) 1.63 1,800
2018-08-01 $492,000 (3.9%) $651,165 (3.6%) 1.65 1,813
2018-09-01 $495,000 (10.0%) $659,337 (7.1%) 1.66 1,764
2018-10-01 $489,000 (7.7%) $655,589 (6.3%) 1.66 1,631
2018-11-01 $485,225 (7.2%) $665,281 (7.4%) 1.64 1,476
2018-12-01 $489,900 (8.9%) $679,687 (9.6%) 1.69 1,293
2019-01-01 $492,495 (9.5%) $692,040 (10.6%) 1.70 1,182
2019-02-01 $499,450 (11.0%) $680,311 (8.1%) 1.69 1,150
2019-03-01 $510,657 (11.3%) $679,416 (7.3%) 1.67 1,180
2019-04-01 $523,205 (10.3%) $676,206 (4.4%) 1.66 1,235
2019-05-01 $518,725 (9.2%) $678,184 (5.2%) 1.62 1,419
2019-06-01 $518,450 (6.0%) $676,689 (4.7%) 1.62 1,686
2019-07-01 $517,450 (5.8%) $676,310 (3.6%) 1.62 1,758
2019-08-01 $510,091 (3.7%) $666,255 (2.3%) 1.62 1,693
2019-09-01 $502,727 (1.6%) $657,835 (-0.2%) 1.61 1,626
2019-10-01 $498,818 (2.0%) $657,843 (0.3%) 1.61 1,544
2019-11-01 $499,000 (2.8%) $673,523 (1.2%) 1.64 1,305
2019-12-01 $499,450 (2.0%) $675,159 (-0.7%) 1.67 1,038
2020-01-01 $493,500 (0.2%) $665,740 (-3.8%) 1.65 928
2020-02-01 $482,000 (-3.5%) $662,027 (-2.7%) 1.58 903
2020-03-01 $487,000 (-4.6%) $659,032 (-3.0%) 1.53 997
2020-04-01 $488,050 (-6.7%) $652,507 (-3.5%) 1.53 1,165
2020-05-01 $499,900 (-3.6%) $662,061 (-2.4%) 1.52 1,172
2020-06-01 $499,900 (-3.6%) $678,945 (0.3%) 1.47 1,048
2020-07-01 $527,500 (1.9%) $708,987 (4.8%) 1.53 898
2020-08-01 $539,450 (5.8%) $776,903 (16.6%) 1.55 649
2020-09-01 $566,225 (12.6%) $792,330 (20.5%) 1.62 564
2020-10-01 $584,900 (17.3%) $813,786 (23.7%) 1.68 483
2020-11-01 $614,450 (23.1%) $828,218 (23.0%) 1.80 406
2020-12-01 $616,200 (23.4%) $834,675 (23.6%) 1.83 360
2021-01-01 $599,995 (21.6%) $840,751 (26.3%) 1.79 316
2021-02-01 $642,375 (33.3%) $887,663 (34.1%) 1.87 295
2021-03-01 $611,150 (25.5%) $912,932 (38.5%) 1.73 312
2021-04-01 $679,900 (39.3%) $950,380 (45.7%) 1.84 316
2021-05-01 $650,000 (30.0%) $917,699 (38.6%) 1.73 364
2021-06-01 $694,450 (38.9%) $951,976 (40.2%) 1.83 476
2021-07-01 $700,000 (32.7%) $991,162 (39.8%) 1.85 591
2021-08-01 $699,945 (29.8%) $992,530 (27.8%) 1.87 681
2021-09-01 $699,973 (23.6%) $994,925 (25.6%) 1.87 730
2021-10-01 $699,900 (19.7%) $968,909 (19.1%) 1.87 701
2021-11-01 $697,000 (13.4%) $972,108 (17.4%) 1.86 572
2021-12-01 $709,900 (15.2%) $1,026,592 (23.0%) 1.92 426
2022-01-01 $689,000 (14.8%) $1,004,451 (19.5%) 1.86 295
2022-02-01 $742,750 (15.6%) $998,040 (12.4%) 1.93 274
2022-03-01 $724,125 (18.5%) $955,156 (4.6%) 1.81 337
2022-04-01 $750,000 (10.3%) $1,014,487 (6.8%) 1.79 420
2022-05-01 $777,000 (19.5%) $1,021,488 (11.3%) 1.78 649
2022-06-01 $759,500 (9.4%) $987,402 (3.7%) 1.69 817
2022-07-01 $739,900 (5.7%) $981,036 (-1.0%) 1.67 1,032
2022-08-01 $722,400 (3.2%) $958,820 (-3.4%) 1.67 1,052
2022-09-01 $699,900 (0.0%) $977,246 (-1.8%) 1.64 1,017
2022-10-01 $677,500 (-3.2%) $962,812 (-0.6%) 1.59 1,020
2022-11-01 $670,800 (-3.8%) $958,315 (-1.4%) 1.61 912
2022-12-01 $657,435 (-7.4%) $957,564 (-6.7%) 1.62 813
2023-01-01 $649,000 (-5.8%) $938,479 (-6.6%) 1.61 657
2023-02-01 $659,425 (-11.2%) $983,195 (-1.5%) 1.59 608
2023-03-01 $678,200 (-6.3%) $990,449 (3.7%) 1.60 654
2023-04-01 $699,900 (-6.7%) $1,038,428 (2.4%) 1.63 678
2023-05-01 $771,000 (-0.8%) $1,049,038 (2.7%) 1.75 794
2023-06-01 $764,700 (0.7%) $1,036,467 (5.0%) 1.72 897
2023-07-01 $779,450 (5.4%) $1,020,044 (4.0%) 1.77 1,021
2023-08-01 $777,250 (7.6%) $1,013,741 (5.7%) 1.78 1,031
2023-09-01 $772,500 (10.4%) $997,391 (2.1%) 1.80 1,048
2023-10-01 $737,300 (8.8%) $976,807 (1.5%) 1.73 1,011
2023-11-01 $699,999 (4.4%) $967,783 (1.0%) 1.67 953
2023-12-01 $699,900 (6.5%) $963,783 (0.7%) 1.71 851
2024-01-01 $682,450 (5.2%) $929,796 (-0.9%) 1.67 767
2024-02-01 $691,270 (4.8%) $940,291 (-4.4%) 1.66 740
2024-03-01 $699,000 (3.1%) $978,404 (-1.2%) 1.65 806
Bend's median listing price for 2024-03-01 was $699,000, a difference of $20,800 (3.1%) versus the prior year and $7,730 versus the prior month.

Bend's median listing price comes in at 165% of the national average.

Bend's average listing price for 2024-03-01 was $978,404, a difference of $-12,045 (-1.2%) versus the prior year and $38,113 versus the prior month.

For the 2024-03-01 period, Bend had 806 MLS listings, a difference of 66 listings (9%) versus the prior month and 152 listings (23%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Bend (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 95 days 2,046 sqft
2018-02-01 83 days 2,029 sqft
2018-03-01 58 days 2,032 sqft
2018-04-01 54 days 2,053 sqft
2018-05-01 52 days 2,071 sqft
2018-06-01 50 days 2,080 sqft
2018-07-01 57 days 2,078 sqft
2018-08-01 65 days 2,081 sqft
2018-09-01 71 days 2,101 sqft
2018-10-01 84 days 2,086 sqft
2018-11-01 92 days 2,080 sqft
2018-12-01 106 days 2,078 sqft
2019-01-01 110 days 2,086 sqft
2019-02-01 102 days 2,093 sqft
2019-03-01 85 days 2,091 sqft
2019-04-01 62 days 2,090 sqft
2019-05-01 42 days 2,096 sqft
2019-06-01 43 days 2,115 sqft
2019-07-01 56 days 2,114 sqft
2019-08-01 66 days 2,095 sqft
2019-09-01 77 days 2,062 sqft
2019-10-01 84 days 2,055 sqft
2019-11-01 92 days 2,073 sqft
2019-12-01 100 days 2,075 sqft
2020-01-01 103 days 2,065 sqft
2020-02-01 87 days 2,033 sqft
2020-03-01 52 days 2,069 sqft
2020-04-01 50 days 2,034 sqft
2020-05-01 68 days 2,051 sqft
2020-06-01 67 days 2,082 sqft
2020-07-01 64 days 2,095 sqft
2020-08-01 64 days 2,088 sqft
2020-09-01 59 days 2,072 sqft
2020-10-01 68 days 2,026 sqft
2020-11-01 71 days 2,045 sqft
2020-12-01 67 days 2,037 sqft
2021-01-01 58 days 2,037 sqft
2021-02-01 40 days 2,027 sqft
2021-03-01 39 days 2,001 sqft
2021-04-01 37 days 2,044 sqft
2021-05-01 34 days 1,988 sqft
2021-06-01 29 days 2,012 sqft
2021-07-01 32 days 2,040 sqft
2021-08-01 36 days 2,018 sqft
2021-09-01 41 days 2,040 sqft
2021-10-01 50 days 2,020 sqft
2021-11-01 62 days 1,991 sqft
2021-12-01 82 days 2,026 sqft
2022-01-01 90 days 1,982 sqft
2022-02-01 39 days 2,007 sqft
2022-03-01 32 days 1,997 sqft
2022-04-01 31 days 2,063 sqft
2022-05-01 29 days 2,034 sqft
2022-06-01 34 days 2,041 sqft
2022-07-01 38 days 2,009 sqft
2022-08-01 51 days 2,004 sqft
2022-09-01 62 days 1,996 sqft
2022-10-01 66 days 1,976 sqft
2022-11-01 73 days 1,950 sqft
2022-12-01 91 days 1,937 sqft
2023-01-01 96 days 1,936 sqft
2023-02-01 89 days 1,934 sqft
2023-03-01 54 days 1,937 sqft
2023-04-01 51 days 1,961 sqft
2023-05-01 45 days 2,023 sqft
2023-06-01 43 days 2,037 sqft
2023-07-01 47 days 2,062 sqft
2023-08-01 54 days 2,046 sqft
2023-09-01 64 days 2,019 sqft
2023-10-01 71 days 2,011 sqft
2023-11-01 78 days 2,010 sqft
2023-12-01 85 days 1,993 sqft
2024-01-01 92 days 1,940 sqft
2024-02-01 86 days 1,943 sqft
2024-03-01 57 days 1,946 sqft
Bend's median listing age (time on market) for 2024-03-01 was 57 days. This is 7% longer than the same period one year ago.

Bend's median square footage for active listings during the 2024-03-01 period was 1,946 sqft. One year prior, the average listing was 1,937 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).