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 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 0.09% for the week of 2022-11-25, compared to the national average (all FHA variants) of 0% for the same period.

Bend's average FHA mortgage closing costs are $9,964.

The average rate for the prior week (2022-11-18) was 6.52% and one month ago for the week of 2022-10-21, the average rate was 6.63%.

The average rate one year ago was 3.4%.

For refis of the same type during the week of 2022-11-25, the average rate was -0.18%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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 MORTGAGE 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 $449,588 (5.8%) $625,632 (3.3%) 1.67 1,208
2018-02-01 $449,936 (6.5%) $629,561 (5.6%) 1.63 1,182
2018-03-01 $459,000 (4.5%) $633,098 (3.5%) 1.61 1,310
2018-04-01 $474,409 (6.4%) $647,983 (4.8%) 1.61 1,399
2018-05-01 $474,963 (5.2%) $644,799 (5.5%) 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%) $652,926 (3.0%) 1.63 1,799
2018-08-01 $492,000 (4.1%) $651,466 (3.7%) 1.65 1,812
2018-09-01 $495,000 (10.0%) $659,647 (7.2%) 1.66 1,764
2018-10-01 $488,550 (8.1%) $655,468 (6.3%) 1.65 1,632
2018-11-01 $485,000 (7.2%) $665,137 (7.4%) 1.64 1,477
2018-12-01 $489,450 (8.8%) $679,515 (9.6%) 1.69 1,294
2019-01-01 $492,473 (9.5%) $691,833 (10.6%) 1.70 1,183
2019-02-01 $499,450 (11.0%) $680,103 (8.0%) 1.69 1,151
2019-03-01 $510,657 (11.3%) $679,374 (7.3%) 1.67 1,180
2019-04-01 $523,495 (10.4%) $676,417 (4.4%) 1.66 1,234
2019-05-01 $519,000 (9.3%) $678,335 (5.2%) 1.62 1,419
2019-06-01 $517,900 (5.9%) $676,545 (4.6%) 1.62 1,687
2019-07-01 $517,450 (5.8%) $676,402 (3.6%) 1.62 1,758
2019-08-01 $510,636 (3.8%) $667,013 (2.4%) 1.62 1,693
2019-09-01 $504,091 (1.8%) $659,615 (0.0%) 1.61 1,628
2019-10-01 $499,000 (2.1%) $660,344 (0.7%) 1.61 1,546
2019-11-01 $499,000 (2.9%) $673,492 (1.3%) 1.64 1,306
2019-12-01 $499,675 (2.1%) $675,117 (-0.7%) 1.67 1,039
2020-01-01 $494,125 (0.3%) $665,702 (-3.8%) 1.65 929
2020-02-01 $484,000 (-3.1%) $662,027 (-2.7%) 1.58 904
2020-03-01 $487,000 (-4.6%) $658,977 (-3.0%) 1.53 998
2020-04-01 $488,550 (-6.7%) $652,526 (-3.5%) 1.53 1,167
2020-05-01 $499,900 (-3.7%) $643,515 (-5.1%) 1.52 1,173
2020-06-01 $499,900 (-3.5%) $658,811 (-2.6%) 1.47 1,048
2020-07-01 $527,500 (1.9%) $686,586 (1.5%) 1.53 898
2020-08-01 $539,000 (5.6%) $746,881 (12.0%) 1.54 648
2020-09-01 $564,950 (12.1%) $759,704 (15.2%) 1.62 563
2020-10-01 $582,200 (16.7%) $777,750 (17.8%) 1.67 481
2020-11-01 $613,425 (22.9%) $789,956 (17.3%) 1.79 404
2020-12-01 $614,950 (23.1%) $794,535 (17.7%) 1.83 358
2021-01-01 $599,945 (21.4%) $794,911 (19.4%) 1.79 314
2021-02-01 $642,000 (32.6%) $845,270 (27.7%) 1.87 294
2021-03-01 $604,900 (24.2%) $870,098 (32.0%) 1.72 311
2021-04-01 $677,200 (38.6%) $911,967 (39.8%) 1.83 315
2021-05-01 $650,000 (30.0%) $887,285 (37.9%) 1.72 363
2021-06-01 $694,450 (38.9%) $924,957 (40.4%) 1.83 475
2021-07-01 $699,995 (32.7%) $969,131 (41.2%) 1.84 590
2021-08-01 $699,923 (29.9%) $970,334 (29.9%) 1.87 679
2021-09-01 $699,948 (23.9%) $974,329 (28.3%) 1.87 728
2021-10-01 $699,900 (20.2%) $948,294 (21.9%) 1.87 699
2021-11-01 $695,750 (13.4%) $947,647 (20.0%) 1.86 570
2021-12-01 $699,450 (13.7%) $1,000,153 (25.9%) 1.90 425
2022-01-01 $689,000 (14.8%) $1,004,451 (26.4%) 1.86 295
2022-02-01 $741,500 (15.5%) $998,040 (18.1%) 1.93 274
2022-03-01 $724,125 (19.7%) $955,156 (9.8%) 1.81 337
2022-04-01 $750,000 (10.8%) $1,014,487 (11.2%) 1.79 420
2022-05-01 $777,125 (19.6%) $1,021,417 (15.1%) 1.78 650
2022-06-01 $759,500 (9.4%) $987,482 (6.8%) 1.69 818
2022-07-01 $744,000 (6.3%) $980,940 (1.2%) 1.68 1,032
2022-08-01 $722,400 (3.2%) $958,820 (-1.2%) 1.67 1,052
2022-09-01 $699,900 (0.0%) $977,762 (0.4%) 1.64 1,017
2022-10-01 $677,500 (-3.2%) $962,812 (1.5%) 1.59 1,020
Bend's median listing price for 2022-10-01 was $677,500, a difference of $-22,400 (-3.2%) versus the prior year and $-22,400 versus the prior month.

Bend's median listing price comes in at 159% of the national average.

Bend's average listing price for 2022-10-01 was $962,812, a difference of $14,518 (1.5%) versus the prior year and $-14,950 versus the prior month.

For the 2022-10-01 period, Bend had 1,020 MLS listings, a difference of 3 listings (0%) versus the prior month and 321 listings (46%) 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
2018-01-01 101 days 2,046 sqft
2018-02-01 89 days 2,029 sqft
2018-03-01 64 days 2,032 sqft
2018-04-01 58 days 2,053 sqft
2018-05-01 57 days 2,071 sqft
2018-06-01 53 days 2,080 sqft
2018-07-01 60 days 2,079 sqft
2018-08-01 70 days 2,082 sqft
2018-09-01 77 days 2,101 sqft
2018-10-01 88 days 2,085 sqft
2018-11-01 98 days 2,079 sqft
2018-12-01 114 days 2,078 sqft
2019-01-01 122 days 2,086 sqft
2019-02-01 114 days 2,092 sqft
2019-03-01 97 days 2,091 sqft
2019-04-01 74 days 2,091 sqft
2019-05-01 48 days 2,096 sqft
2019-06-01 46 days 2,114 sqft
2019-07-01 60 days 2,114 sqft
2019-08-01 72 days 2,094 sqft
2019-09-01 83 days 2,061 sqft
2019-10-01 92 days 2,054 sqft
2019-11-01 100 days 2,072 sqft
2019-12-01 111 days 2,075 sqft
2020-01-01 113 days 2,063 sqft
2020-02-01 96 days 2,033 sqft
2020-03-01 58 days 2,069 sqft
2020-04-01 55 days 2,034 sqft
2020-05-01 73 days 2,049 sqft
2020-06-01 79 days 2,081 sqft
2020-07-01 77 days 2,093 sqft
2020-08-01 78 days 2,084 sqft
2020-09-01 74 days 2,069 sqft
2020-10-01 80 days 2,024 sqft
2020-11-01 79 days 2,044 sqft
2020-12-01 72 days 2,032 sqft
2021-01-01 68 days 2,033 sqft
2021-02-01 48 days 2,025 sqft
2021-03-01 44 days 1,997 sqft
2021-04-01 39 days 2,044 sqft
2021-05-01 36 days 1,988 sqft
2021-06-01 30 days 2,011 sqft
2021-07-01 33 days 2,038 sqft
2021-08-01 37 days 2,017 sqft
2021-09-01 41 days 2,040 sqft
2021-10-01 50 days 2,020 sqft
2021-11-01 63 days 1,985 sqft
2021-12-01 84 days 2,018 sqft
2022-01-01 92 days 1,982 sqft
2022-02-01 41 days 2,007 sqft
2022-03-01 33 days 1,997 sqft
2022-04-01 32 days 2,063 sqft
2022-05-01 30 days 2,034 sqft
2022-06-01 35 days 2,041 sqft
2022-07-01 38 days 2,010 sqft
2022-08-01 52 days 2,004 sqft
2022-09-01 64 days 1,996 sqft
2022-10-01 70 days 1,976 sqft
Bend's median listing age (time on market) for 2022-10-01 was 70 days. This is 40% longer than the same period one year ago.

Bend's median square footage for active listings during the 2022-10-01 period was 1,976 sqft. One year prior, the average listing was 2,020 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).