Bend FHA Loan Rates, Closing Costs & Stats

BEND, OR

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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.

    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 0.04% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

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

    The average rate for the prior week (2024-11-08) was 6.34% and one month ago for the week of 2024-10-11, the average rate was 6.05%.

    The average rate one year ago was 7.39%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.42%.

    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
    2024-04-01 $732,336 (4.6%) $1,028,671 (-0.9%) 1.70 954
    2024-05-01 $754,975 (-2.1%) $1,041,496 (-0.7%) 1.71 1,170
    2024-06-01 $769,000 (0.6%) $1,054,872 (1.8%) 1.73 1,352
    2024-07-01 $761,000 (-2.4%) $1,057,115 (3.6%) 1.74 1,520
    2024-08-01 $742,713 (-4.4%) $1,045,467 (3.1%) 1.73 1,587
    2024-09-01 $736,198 (-4.7%) $1,034,121 (3.7%) 1.73 1,635
    2024-10-01 $725,000 (-1.7%) $1,010,934 (3.5%) 1.71 1,603
    Bend's median listing price for 2024-10-01 was $725,000, a difference of $-12,300 (-1.7%) versus the prior year and $-11,198 versus the prior month.

    Bend's median listing price comes in at 171% of the national average.

    Bend's average listing price for 2024-10-01 was $1,010,934, a difference of $34,127 (3.5%) versus the prior year and $-23,187 versus the prior month.

    For the 2024-10-01 period, Bend had 1,603 MLS listings, a difference of -32 listings (-2%) versus the prior month and 592 listings (59%) 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
    2024-04-01 44 days 1,968 sqft
    2024-05-01 44 days 1,995 sqft
    2024-06-01 50 days 2,010 sqft
    2024-07-01 57 days 2,011 sqft
    2024-08-01 65 days 2,010 sqft
    2024-09-01 81 days 2,013 sqft
    2024-10-01 96 days 2,004 sqft
    Bend's median listing age (time on market) for 2024-10-01 was 96 days. This is 36% longer than the same period one year ago.

    Bend's median square footage for active listings during the 2024-10-01 period was 2,004 sqft. One year prior, the average listing was 2,011 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).