Bend FHA Loans

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 85 lenders originated 818 FHA loans during 2021. The total origination value was $258,390,000, with an average FHA loan value of $315,880.

Bend FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Bend averaged 5.3% for the week of 2022-08-05, compared to the national average (all FHA variants) of 5.305% for the same period.

The average rate for the prior week (2022-07-29) was 5.34% and one month ago for the week of 2022-07-01, the average rate was 5.33%.

The average rate one year ago was 3.13%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.02%.

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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bend level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 36 2.59% $9,484
GUILD MORTGAGE COMPANY 34 3.00% $12,517
ACADEMY MORTGAGE CORPORATION 33 2.96% $12,297
CALIBER HOME LOANS, INC. 27 2.65% $10,057
LOANDEPOT.COM, LLC 23 3.12% $13,728
HOMEBRIDGE FINANCIAL SERVICES, INC. 21 2.85% $9,893
LAKEVIEW LOAN SERVICING, LLC 20 2.91% $6,285
CHURCHILL MORTGAGE CORPORATION 18 2.92% $12,056
DIRECTORS MORTGAGE, INC. 17 3.02% $13,105
Mr. Cooper ( Nationstar Mortgage ) 15 3.27% $6,786
FREEDOM MORTGAGE CORPORATION 15 2.84% $7,019
CMG MORTGAGE, INC. 14 2.44% $11,126
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 13 3.53% $10,235
PENNYMAC LOAN SERVICES, LLC 13 2.79% $7,025
CELEBRITY HOME LOANS, LLC 12 2.74% $11,413
GENEVA FINANCIAL, LLC 12 3.24% $12,891
Willamette Valley Bank 11 3.01% $12,377
CANOPY MORTGAGE, LLC 10 2.55% $12,455
FINANCE OF AMERICA MORTGAGE LLC 10 3.14% $11,012
BROKER SOLUTIONS, INC. 9 3.29% $10,342
NATIONS DIRECT MORTGAGE, LLC 8 2.75% $13,611
Nations Lending Corporation 8 3.05% $14,939
PRIMELENDING, A PLAINSCAPITAL COMPANY 8 3.31% $12,329
Umpqua Bank 8 2.88% $9,727
Golden Empire Mortgage, Inc. 8 3.55% $12,066
DHI MORTGAGE COMPANY, LTD. 8 2.66% $9,988
PREMIER MORTGAGE RESOURCES, L.L.C. 7 2.98% $14,854
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 3.20% $13,307
Gateway First Bank 7 3.36% $10,373
MANN FINANCIAL INC. 7 3.54% $13,533
NEWREZ LLC 7 3.21% $7,439
SOVEREIGN LENDING GROUP INCORPORATED 6 2.56% $11,027
HOME POINT FINANCIAL CORPORATION 5 2.47% $10,088
SUMMIT FUNDING, INC. 5 3.20% $13,092
AmeriHome Mortgage Company, LLC 4 2.75% $5,866
UNITED WHOLESALE MORTGAGE, LLC 4 2.52% $12,008
Carrington Mortgage Services, LLC 4 3.28% $7,444
STEARNS LENDING, LLC 4 3.03% $10,095
CROSSCOUNTRY MORTGAGE, LLC 3 2.92% $10,315
AXIA FINANCIAL, LLC 3 3.33% $11,621
AMERICAN FINANCIAL NETWORK, INC. 3 2.79% $13,488
AMERICAN PACIFIC MORTGAGE CORPORATION 3 2.71% $20,874
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 2.58% $11,578
LPMC, LLC 3 3.38% $10,861
VILLAGE CAPITAL & INVESTMENT LLC 3 2.54% $3,467
First Guaranty Mortgage Corporation 3 3.00% $7,755
Commerce Home Mortgage, Inc. 3 3.00% $12,056
Evolve Bank & Trust 3 2.83% $9,322
OnPoint Community Credit Union 2 3.13% $7,876
GUARANTEED RATE, INC. 2 3.13% $15,668
MID AMERICA MORTGAGE, INC. 2 3.13% $6,274
OCEANSIDE MORTGAGE COMPANY 2 2.37% $3,660
PACIFIC RESIDENTIAL MORTGAGE, LLC 2 3.06% $15,617
AMERICAN FINANCING CORPORATION 2 2.75% $7,479
Strong Home Mortgage, LLC 2 2.69% $8,835
SWBC MORTGAGE CORPORATION 2 3.19% $15,048
Flagstar Bank, FSB 2 2.63% $9,697
The Union Bank Company 1 2.38% $8,613
VERITAS FUNDING, LLC 1 2.75% $13,954
AMERICAN FINANCIAL RESOURCES, INC. 1 2.75% $8,316
MOVEMENT MORTGAGE, LLC 1 2.25% $15,326
Plains Commerce Bank 1 2.63% $13,549
PLANET HOME LENDING, LLC 1 2.63% $6,926
PREMIER LENDING, INC. 1 3.25% $13,525
1st Security Bank of Washington 1 2.50% $10,779
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 2.88% $6,949
Mortgage Research Center, LLC 1 2.88% $7,453
PRIORITY HOME LENDING, LLC 1 3.25% $13,577
InterContinental Capital Group, Inc 1 2.25% $11,159
RANLIFE, INC. 1 2.75% $13,048
Sierra Pacific Mortgage Company, Inc. 1 2.75% $11,451
MORIA DEVELOPMENT, INC. 1 3.63% $12,013
LENDUS, LLC 1 2.50% $15,300
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 2.88% $6,565
LADERA LENDING, INC. 1 3.13% $9,974
SUMMIT MORTGAGE CORPORATION 1 3.63% $11,129
First Federal Bank 1 2.88% $14,557
The Federal Savings Bank 1 2.38% $20,063
THE MORTGAGE COMPANY 1 3.50% $13,158
MYCUMORTGAGE, LLC 1 2.63% $9,409
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.38% $8,762
AMERISAVE MORTGAGE CORPORATION 1 3.75% $10,704
NATIONWIDE MORTGAGE BANKERS, INC. 1 2.75% $10,601
Bank of England 1 3.13% $13,502
NFM, INC. 1 3.38% $13,859

The top Bend FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 36 FHA loans originated. Their average total fees are $9,484, which is $3,034 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Bend FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($6,285), Mr. Cooper ( Nationstar Mortgage ) ($6,786), FREEDOM MORTGAGE CORPORATION ($7,019), PENNYMAC LOAN SERVICES, LLC ($7,025) and QUICKEN LOANS, LLC ($9,484).

The lowest rate Bend FHA lenders (with over 10 loans originated) are CMG MORTGAGE, INC. (2.44%), CANOPY MORTGAGE, LLC (2.55%), QUICKEN LOANS, LLC (2.59%), CALIBER HOME LOANS, INC. (2.65%) and CELEBRITY HOME LOANS, LLC (2.74%).

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

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 $422,400 (8.6%) $596,714 (3.9%) 1.56 1,147
2018-02-01 $421,250 (8.9%) $602,504 (5.6%) 1.52 1,098
2018-03-01 $424,900 (6.4%) $602,446 (2.4%) 1.47 1,193
2018-04-01 $428,950 (5.5%) $606,835 (2.6%) 1.44 1,262
2018-05-01 $429,900 (1.2%) $598,233 (2.0%) 1.43 1,379
2018-06-01 $435,000 (1.1%) $594,668 (1.4%) 1.45 1,473
2018-07-01 $439,450 (-0.1%) $599,243 (-0.7%) 1.47 1,612
2018-08-01 $446,875 (1.8%) $605,017 (1.9%) 1.49 1,625
2018-09-01 $449,000 (4.7%) $613,570 (5.3%) 1.50 1,584
2018-10-01 $447,000 (5.3%) $618,638 (6.3%) 1.50 1,463
2018-11-01 $449,900 (5.9%) $636,193 (9.4%) 1.51 1,323
2018-12-01 $450,000 (5.9%) $653,863 (10.8%) 1.54 1,156
2019-01-01 $454,950 (7.7%) $658,657 (10.4%) 1.57 1,032
2019-02-01 $459,900 (9.2%) $653,601 (8.5%) 1.54 1,014
2019-03-01 $471,386 (10.9%) $649,042 (7.7%) 1.54 1,021
2019-04-01 $479,450 (11.8%) $639,524 (5.4%) 1.51 1,057
2019-05-01 $474,990 (10.5%) $636,071 (6.3%) 1.46 1,203
2019-06-01 $465,000 (6.9%) $625,923 (5.3%) 1.43 1,438
2019-07-01 $472,400 (7.5%) $634,366 (5.9%) 1.47 1,505
2019-08-01 $463,514 (3.7%) $626,120 (3.5%) 1.46 1,486
2019-09-01 $457,559 (1.9%) $620,108 (1.1%) 1.45 1,457
2019-10-01 $449,700 (0.6%) $619,164 (0.1%) 1.43 1,372
2019-11-01 $449,000 (-0.2%) $622,589 (-2.1%) 1.45 1,159
2019-12-01 $445,000 (-1.1%) $635,371 (-2.8%) 1.48 922
2020-01-01 $440,250 (-3.2%) $620,416 (-5.8%) 1.47 844
2020-02-01 $435,000 (-5.4%) $606,708 (-7.2%) 1.40 830
2020-03-01 $444,995 (-5.6%) $605,826 (-6.7%) 1.39 921
2020-04-01 $439,450 (-8.3%) $594,449 (-7.1%) 1.37 1,058
2020-05-01 $449,900 (-5.3%) $591,395 (-7.0%) 1.36 1,030
2020-06-01 $450,995 (-3.0%) $597,025 (-4.6%) 1.32 951
2020-07-01 $472,500 (0.0%) $616,593 (-2.8%) 1.35 806
2020-08-01 $484,760 (4.6%) $659,068 (5.3%) 1.39 581
2020-09-01 $509,975 (11.5%) $692,287 (11.6%) 1.46 485
2020-10-01 $535,000 (19.0%) $719,453 (16.2%) 1.53 413
2020-11-01 $569,725 (26.9%) $719,289 (15.5%) 1.63 349
2020-12-01 $567,450 (27.5%) $723,263 (13.8%) 1.66 313
2021-01-01 $525,000 (19.3%) $677,142 (9.1%) 1.54 277
2021-02-01 $569,955 (31.0%) $753,712 (24.2%) 1.64 263
2021-03-01 $534,745 (20.2%) $789,810 (30.4%) 1.50 264
2021-04-01 $591,500 (34.6%) $827,620 (39.2%) 1.59 257
2021-05-01 $579,000 (28.7%) $793,249 (34.1%) 1.52 300
2021-06-01 $599,500 (32.9%) $806,596 (35.1%) 1.56 408
2021-07-01 $649,450 (37.5%) $849,568 (37.8%) 1.69 484
2021-08-01 $645,269 (33.1%) $846,219 (28.4%) 1.70 561
2021-09-01 $649,000 (27.3%) $842,258 (21.7%) 1.71 609
2021-10-01 $644,990 (20.6%) $816,736 (13.5%) 1.70 592
2021-11-01 $629,000 (10.4%) $807,729 (12.3%) 1.66 512
2021-12-01 $630,000 (11.0%) $837,382 (15.8%) 1.68 383
2022-01-01 $609,990 (16.2%) $833,807 (23.1%) 1.63 255
2022-02-01 $649,500 (14.0%) $812,886 (7.9%) 1.66 236
2022-03-01 $662,000 (23.8%) $792,619 (0.4%) 1.63 291
2022-04-01 $699,000 (18.2%) $841,047 (1.6%) 1.64 351
2022-05-01 $697,450 (20.5%) $863,010 (8.8%) 1.56 530
2022-06-01 $697,000 (16.3%) $858,515 (6.4%) 1.55 679
Bend's median listing price for 2022-06-01 was $697,000, a difference of $97,500 (16.3%) versus the prior year and $-450 versus the prior month.

Bend's median listing price comes in at 155% of the national average.

Bend's average listing price for 2022-06-01 was $858,515, a difference of $51,919 (6.4%) versus the prior year and $-4,495 versus the prior month.

For the 2022-06-01 period, Bend had 679 MLS listings, a difference of 149 listings (28%) versus the prior month and 271 listings (66%) 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
2018-01-01 106 days 2,022 sqft
2018-02-01 99 days 2,015 sqft
2018-03-01 67 days 2,010 sqft
2018-04-01 58 days 2,015 sqft
2018-05-01 57 days 2,015 sqft
2018-06-01 57 days 2,015 sqft
2018-07-01 61 days 2,021 sqft
2018-08-01 71 days 2,026 sqft
2018-09-01 78 days 2,046 sqft
2018-10-01 88 days 2,071 sqft
2018-11-01 97 days 2,075 sqft
2018-12-01 112 days 2,072 sqft
2019-01-01 118 days 2,082 sqft
2019-02-01 116 days 2,081 sqft
2019-03-01 114 days 2,059 sqft
2019-04-01 74 days 2,037 sqft
2019-05-01 49 days 2,034 sqft
2019-06-01 46 days 2,029 sqft
2019-07-01 58 days 2,036 sqft
2019-08-01 67 days 2,024 sqft
2019-09-01 79 days 2,007 sqft
2019-10-01 86 days 1,993 sqft
2019-11-01 95 days 2,004 sqft
2019-12-01 106 days 2,007 sqft
2020-01-01 106 days 1,996 sqft
2020-02-01 91 days 1,951 sqft
2020-03-01 60 days 1,956 sqft
2020-04-01 57 days 1,955 sqft
2020-05-01 71 days 2,006 sqft
2020-06-01 69 days 2,013 sqft
2020-07-01 58 days 2,029 sqft
2020-08-01 60 days 2,029 sqft
2020-09-01 53 days 2,020 sqft
2020-10-01 56 days 1,984 sqft
2020-11-01 65 days 2,051 sqft
2020-12-01 68 days 2,020 sqft
2021-01-01 71 days 1,956 sqft
2021-02-01 50 days 1,956 sqft
2021-03-01 44 days 1,949 sqft
2021-04-01 41 days 2,012 sqft
2021-05-01 36 days 1,920 sqft
2021-06-01 30 days 1,920 sqft
2021-07-01 33 days 1,958 sqft
2021-08-01 34 days 1,958 sqft
2021-09-01 41 days 1,961 sqft
2021-10-01 47 days 1,956 sqft
2021-11-01 48 days 1,929 sqft
2021-12-01 63 days 1,961 sqft
2022-01-01 83 days 1,920 sqft
2022-02-01 43 days 1,951 sqft
2022-03-01 36 days 1,941 sqft
2022-04-01 34 days 1,973 sqft
2022-05-01 29 days 1,973 sqft
2022-06-01 34 days 1,964 sqft
Bend's median listing age (time on market) for 2022-06-01 was 34 days. This is 14% longer than the same period one year ago.

Bend's median square footage for active listings during the 2022-06-01 period was 1,964 sqft. One year prior, the average listing was 1,920 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).