Bremerton FHA Loan Rates, Closing Costs & Stats

BREMERTON-SILVERDALE-PORT ORCHARD, WA

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).