Bremerton FHA Loan Rates, Closing Costs & Stats

BREMERTON-SILVERDALE-PORT ORCHARD, 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.

    Bremerton's 81 lenders originated 558 FHA loans during 2022. The total origination value was $202,480,000, with an average FHA loan value of $362,867.

    Bremerton FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Bremerton averaged -0.44% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

    Bremerton's average FHA mortgage closing costs are $10,264.

    The average rate for the prior week (2023-11-17) was 6.75% and one month ago for the week of 2023-10-20, the average rate was 7.16%.

    The average rate one year ago was 6.18%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.8%.

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

    Bremerton 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 Bremerton level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 71 5.68% $14,842
    MOVEMENT MORTGAGE, LLC 29 4.82% $13,800
    QUICKEN LOANS, LLC 27 4.51% $16,227
    CALIBER HOME LOANS, INC. 26 5.26% $15,147
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 25 5.33% $14,493
    CROSSCOUNTRY MORTGAGE, LLC 25 5.52% $15,191
    BROKER SOLUTIONS, INC. 15 5.10% $16,024
    LOANDEPOT.COM, LLC 13 4.31% $13,909
    CORNERSTONE HOME LENDING, INC. 13 5.62% $14,923
    UNITED WHOLESALE MORTGAGE, LLC 11 4.82% $14,079
    FREEDOM MORTGAGE CORPORATION 9 4.89% $13,347
    Carrington Mortgage Services, LLC 8 5.42% $17,548
    GUILD MORTGAGE COMPANY 7 5.48% $13,480
    LAKEVIEW LOAN SERVICING, LLC 7 3.55% $6,694
    Mr. Cooper ( Nationstar Mortgage ) 7 4.09% $17,269
    MUTUAL OF OMAHA MORTGAGE, INC. 6 4.69% $20,202
    BAY EQUITY LLC 6 5.60% $16,062
    1st Security Bank of Washington 5 5.37% $14,556
    AXIA FINANCIAL, LLC 5 5.30% $16,875
    CMG MORTGAGE, INC. 5 5.30% $17,941
    MID AMERICA MORTGAGE, INC. 5 5.38% $6,141
    HomeStreet Bank 4 5.31% $12,869
    DHI MORTGAGE COMPANY, LTD. 4 4.88% $13,531
    FINANCE OF AMERICA MORTGAGE LLC 4 4.34% $15,589
    Umpqua Bank 4 5.31% $17,204
    NETWORK CAPITAL FUNDING CORPORATION 4 5.06% $12,512
    PLANET HOME LENDING, LLC 4 5.81% $14,492
    Hometown Lenders, Inc. 4 5.28% $13,341
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 4.96% $12,047
    AMERISAVE MORTGAGE CORPORATION 3 4.46% $12,459
    Nations Lending Corporation 3 5.00% $21,489
    NFM, INC. 3 5.42% $16,150
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 4.50% $11,599
    LEADERONE FINANCIAL CORPORATION 2 5.56% $15,798
    AMERICAN FINANCIAL RESOURCES, INC. 2 5.38% $18,426
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 4.75% $17,301
    Paramount Residential Mortgage Group, Inc. 2 5.75% $15,314
    PENRITH HOME LOANS LLC 2 3.63% $10,092
    EAGLE HOME MORTGAGE, LLC 2 6.13% $24,762
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 4.19% $13,513
    TOP FLITE FINANCIAL, INC. 2 4.56% $20,578
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.69% $16,895
    GENEVA FINANCIAL, LLC 2 5.25% $15,845
    PRIORITY HOME LENDING, LLC 2 5.06% $21,623
    Alaska USA Mortgage Company LLC 2 6.19% $11,869
    PENNYMAC LOAN SERVICES, LLC 1 4.75% $17,341
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.00% $12,817
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.75% $14,498
    S1L, Inc. 1 5.50% $14,068
    SECURITYNATIONAL MORTGAGE COMPANY 1 4.00% $18,537
    Sierra Pacific Mortgage Company, Inc. 1 3.63% $10,507
    Strong Home Mortgage, LLC 1 2.75% $2,039
    SUN WEST MORTGAGE COMPANY, INC. 1 5.12% $8,699
    T2 FINANCIAL LLC 1 7.13% $20,513
    TJC Mortgage, Inc. 1 5.63% $19,039
    ACADEMY MORTGAGE CORPORATION 1 7.63% $12,875
    VERITAS FUNDING, LLC 1 5.25% $26,998
    ON Q FINANCIAL, INC. 1 6.63% $12,853
    EVERETT FINANCIAL, INC. 1 4.50% $4,717
    CHURCHILL MORTGAGE CORPORATION 1 6.62% $19,564
    CALCON MUTUAL MORTGAGE LLC 1 4.63% $23,853
    First Home Bank 1 6.75% $15,519
    Flagstar Bank, FSB 1 4.75% $12,934
    Franklin Loan Corporation 1 4.50% $18,910
    BECKAM FUNDING CORP. 1 3.99% $16,762
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.25% $14,764
    GUARANTEED RATE, INC. 1 6.23% $14,438
    HOME MORTGAGE ALLIANCE, LLC 1 6.75% $15,429
    AmeriHome Mortgage Company, LLC 1 3.63% $12,406
    Amerifirst Financial, Inc. 1 5.63% $6,930
    MEMBER FIRST MORTGAGE, LLC 1 2.63% $8,246
    VILLAGE CAPITAL MORTGAGE 1 2.50% $6,160
    MORIA DEVELOPMENT, INC. 1 4.75% $18,171
    MORTGAGE MASTER SERVICE CORPORATION 1 3.50% $16,757
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 4.38% $14,869
    AMCAP MORTGAGE, LTD. 1 6.25% $15,423
    NEWREZ LLC 1 5.25% $14,513
    North American Savings Bank, F.S.B. 1 4.25% $10,388
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 6.75% $5,208
    OAKTREE FUNDING CORP. 1 6.50% $17,936
    DIRECTORS MORTGAGE, INC. 1 4.75% $20,660

    The top Bremerton FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 71 FHA loans originated. Their average total fees are $14,842, which is $1,042 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Bremerton FHA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($13,800), LOANDEPOT.COM, LLC ($13,909), UNITED WHOLESALE MORTGAGE, LLC ($14,079), EVERGREEN MONEYSOURCE MORTGAGE COMPANY ($14,493) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($14,842).

    The lowest rate Bremerton FHA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC (4.31%), QUICKEN LOANS, LLC (4.51%), MOVEMENT MORTGAGE, LLC (4.82%), UNITED WHOLESALE MORTGAGE, LLC (4.82%) and BROKER SOLUTIONS, INC. (5.10%).

    Bremerton FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BREMERTON-SILVERDALE-PORT ORCHARD, WA KITSAP 2022 $497,950 $637,450 $770,550 $957,600
    BREMERTON-SILVERDALE-PORT ORCHARD, WA KITSAP 2023 $563,500 $721,400 $872,000 $1,083,650

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bremerton (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 $400,374 (14.6%) $528,023 (12.3%) 1.48 341
    2018-02-01 $404,794 (14.0%) $527,465 (9.5%) 1.47 328
    2018-03-01 $399,888 (7.7%) $523,174 (3.1%) 1.40 320
    2018-04-01 $422,250 (5.8%) $584,378 (6.5%) 1.43 332
    2018-05-01 $455,495 (13.9%) $616,063 (7.2%) 1.52 424
    2018-06-01 $433,000 (8.3%) $589,054 (3.2%) 1.44 475
    2018-07-01 $439,500 (10.2%) $585,513 (5.6%) 1.47 549
    2018-08-01 $427,000 (5.1%) $569,025 (2.4%) 1.43 623
    2018-09-01 $409,975 (5.4%) $539,643 (-0.2%) 1.38 679
    2018-10-01 $414,444 (10.7%) $545,652 (3.1%) 1.40 663
    2018-11-01 $409,894 (13.5%) $539,779 (5.6%) 1.39 587
    2018-12-01 $409,900 (9.3%) $528,300 (-1.1%) 1.41 492
    2019-01-01 $415,944 (3.9%) $521,598 (-1.2%) 1.44 409
    2019-02-01 $444,995 (9.9%) $554,403 (5.1%) 1.50 384
    2019-03-01 $467,601 (16.9%) $589,697 (12.7%) 1.53 383
    2019-04-01 $476,291 (12.8%) $630,683 (7.9%) 1.51 425
    2019-05-01 $472,450 (3.7%) $649,878 (5.5%) 1.48 511
    2019-06-01 $485,000 (12.0%) $689,689 (17.1%) 1.52 542
    2019-07-01 $488,688 (11.2%) $691,915 (18.2%) 1.53 561
    2019-08-01 $487,205 (14.1%) $683,654 (20.1%) 1.54 574
    2019-09-01 $483,124 (17.8%) $672,399 (24.6%) 1.55 576
    2019-10-01 $477,475 (15.2%) $653,297 (19.7%) 1.54 574
    2019-11-01 $464,900 (13.4%) $634,269 (17.5%) 1.52 538
    2019-12-01 $447,975 (9.3%) $602,156 (14.0%) 1.49 410
    2020-01-01 $456,444 (9.7%) $601,625 (15.3%) 1.53 356
    2020-02-01 $455,888 (2.5%) $618,684 (11.6%) 1.49 334
    2020-03-01 $474,125 (1.4%) $613,437 (4.0%) 1.49 398
    2020-04-01 $488,475 (2.6%) $615,789 (-2.4%) 1.53 450
    2020-05-01 $490,000 (3.7%) $627,712 (-3.4%) 1.49 446
    2020-06-01 $485,347 (0.1%) $660,520 (-4.2%) 1.43 436
    2020-07-01 $498,500 (2.0%) $691,655 (0.0%) 1.44 431
    2020-08-01 $493,307 (1.3%) $699,499 (2.3%) 1.41 415
    2020-09-01 $475,851 (-1.5%) $683,450 (1.6%) 1.36 409
    2020-10-01 $479,000 (0.3%) $692,274 (6.0%) 1.37 379
    2020-11-01 $499,750 (7.5%) $714,890 (12.7%) 1.46 250
    2020-12-01 $469,944 (4.9%) $698,284 (16.0%) 1.40 205
    2021-01-01 $469,388 (2.8%) $776,774 (29.1%) 1.40 165
    2021-02-01 $549,488 (20.5%) $833,965 (34.8%) 1.60 140
    2021-03-01 $542,238 (14.4%) $775,826 (26.5%) 1.54 154
    2021-04-01 $562,500 (15.2%) $745,602 (21.1%) 1.52 181
    2021-05-01 $550,000 (12.2%) $741,691 (18.2%) 1.46 213
    2021-06-01 $546,500 (12.6%) $734,262 (11.2%) 1.44 249
    2021-07-01 $551,990 (10.7%) $723,481 (4.6%) 1.46 305
    2021-08-01 $576,975 (17.0%) $719,937 (2.9%) 1.54 318
    2021-09-01 $580,000 (21.9%) $714,170 (4.5%) 1.55 312
    2021-10-01 $597,000 (24.6%) $731,719 (5.7%) 1.59 311
    2021-11-01 $599,675 (20.0%) $738,070 (3.2%) 1.60 256
    2021-12-01 $599,720 (27.6%) $788,064 (12.9%) 1.63 182
    2022-01-01 $599,900 (27.8%) $800,568 (3.1%) 1.62 140
    2022-02-01 $599,495 (9.1%) $790,509 (-5.2%) 1.56 165
    2022-03-01 $609,490 (12.4%) $805,064 (3.8%) 1.53 166
    2022-04-01 $602,000 (7.0%) $798,044 (7.0%) 1.44 190
    2022-05-01 $639,975 (16.4%) $816,184 (10.0%) 1.46 271
    2022-06-01 $635,675 (16.3%) $813,225 (10.8%) 1.42 388
    2022-07-01 $600,000 (8.7%) $796,254 (10.1%) 1.35 537
    2022-08-01 $629,948 (9.2%) $846,400 (17.6%) 1.46 555
    2022-09-01 $605,000 (4.3%) $820,878 (14.9%) 1.41 514
    2022-10-01 $599,000 (0.3%) $796,655 (8.9%) 1.41 511
    2022-11-01 $592,500 (-1.2%) $771,017 (4.5%) 1.42 481
    2022-12-01 $549,900 (-8.3%) $700,510 (-11.1%) 1.36 400
    2023-01-01 $550,000 (-8.3%) $703,065 (-12.2%) 1.36 343
    2023-02-01 $556,250 (-7.2%) $727,645 (-8.0%) 1.34 279
    2023-03-01 $598,495 (-1.8%) $846,669 (5.2%) 1.41 267
    2023-04-01 $609,000 (1.2%) $940,562 (17.9%) 1.42 279
    2023-05-01 $649,950 (1.6%) $956,961 (17.3%) 1.47 278
    2023-06-01 $649,475 (2.2%) $919,016 (13.0%) 1.46 313
    2023-07-01 $650,000 (8.3%) $927,694 (16.5%) 1.48 344
    2023-08-01 $650,000 (3.2%) $935,244 (10.5%) 1.49 385
    2023-09-01 $634,500 (4.9%) $940,497 (14.6%) 1.48 387
    2023-10-01 $637,250 (6.4%) $935,428 (17.4%) 1.50 380
    Bremerton's median listing price for 2023-10-01 was $637,250, a difference of $38,250 (6.4%) versus the prior year and $2,750 versus the prior month.

    Bremerton's median listing price comes in at 150% of the national average.

    Bremerton's average listing price for 2023-10-01 was $935,428, a difference of $138,773 (17.4%) versus the prior year and $-5,069 versus the prior month.

    For the 2023-10-01 period, Bremerton had 380 MLS listings, a difference of -7 listings (-2%) versus the prior month and -131 listings (-26%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bremerton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 56 days 2,151 sqft
    2018-02-01 37 days 2,135 sqft
    2018-03-01 33 days 2,054 sqft
    2018-04-01 30 days 2,086 sqft
    2018-05-01 21 days 2,208 sqft
    2018-06-01 30 days 2,159 sqft
    2018-07-01 31 days 2,185 sqft
    2018-08-01 33 days 2,162 sqft
    2018-09-01 38 days 2,145 sqft
    2018-10-01 47 days 2,120 sqft
    2018-11-01 56 days 2,124 sqft
    2018-12-01 65 days 2,111 sqft
    2019-01-01 67 days 2,099 sqft
    2019-02-01 64 days 2,143 sqft
    2019-03-01 50 days 2,204 sqft
    2019-04-01 30 days 2,256 sqft
    2019-05-01 28 days 2,264 sqft
    2019-06-01 36 days 2,272 sqft
    2019-07-01 41 days 2,248 sqft
    2019-08-01 43 days 2,196 sqft
    2019-09-01 46 days 2,176 sqft
    2019-10-01 47 days 2,145 sqft
    2019-11-01 48 days 2,110 sqft
    2019-12-01 59 days 2,043 sqft
    2020-01-01 63 days 2,045 sqft
    2020-02-01 37 days 2,079 sqft
    2020-03-01 23 days 2,102 sqft
    2020-04-01 34 days 2,058 sqft
    2020-05-01 43 days 2,058 sqft
    2020-06-01 35 days 2,058 sqft
    2020-07-01 32 days 2,108 sqft
    2020-08-01 31 days 2,058 sqft
    2020-09-01 32 days 2,057 sqft
    2020-10-01 30 days 1,976 sqft
    2020-11-01 36 days 1,959 sqft
    2020-12-01 44 days 1,915 sqft
    2021-01-01 41 days 1,932 sqft
    2021-02-01 32 days 2,124 sqft
    2021-03-01 25 days 2,016 sqft
    2021-04-01 23 days 2,059 sqft
    2021-05-01 22 days 2,028 sqft
    2021-06-01 23 days 2,012 sqft
    2021-07-01 23 days 1,904 sqft
    2021-08-01 30 days 1,990 sqft
    2021-09-01 35 days 2,058 sqft
    2021-10-01 36 days 2,069 sqft
    2021-11-01 37 days 2,054 sqft
    2021-12-01 44 days 2,058 sqft
    2022-01-01 42 days 1,974 sqft
    2022-02-01 23 days 1,979 sqft
    2022-03-01 23 days 2,006 sqft
    2022-04-01 22 days 2,005 sqft
    2022-05-01 20 days 2,039 sqft
    2022-06-01 23 days 2,100 sqft
    2022-07-01 28 days 2,080 sqft
    2022-08-01 34 days 2,098 sqft
    2022-09-01 44 days 2,078 sqft
    2022-10-01 49 days 2,078 sqft
    2022-11-01 52 days 2,064 sqft
    2022-12-01 63 days 2,018 sqft
    2023-01-01 74 days 2,037 sqft
    2023-02-01 68 days 2,082 sqft
    2023-03-01 46 days 2,095 sqft
    2023-04-01 38 days 2,163 sqft
    2023-05-01 36 days 2,121 sqft
    2023-06-01 32 days 2,120 sqft
    2023-07-01 32 days 2,112 sqft
    2023-08-01 38 days 2,149 sqft
    2023-09-01 43 days 2,113 sqft
    2023-10-01 44 days 2,142 sqft
    Bremerton's median listing age (time on market) for 2023-10-01 was 44 days. This is -10% shorter than the same period one year ago.

    Bremerton's median square footage for active listings during the 2023-10-01 period was 2,142 sqft. One year prior, the average listing was 2,078 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).