Carson City FHA Loan Rates, Closing Costs & Stats

CARSON CITY, NV

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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.

    Carson City's 39 lenders originated 132 FHA loans during 2023. The total origination value was $44,290,000, with an average FHA loan value of $335,530.

    Carson City FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Carson City averaged 6.21% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Carson City's average FHA mortgage closing costs are $10,414.

    The average rate for the prior week (2024-12-06) was 6.48% and one month ago for the week of 2024-11-08, the average rate was 6.14%.

    The average rate one year ago was 6.55%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

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

    Carson City 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 Carson City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 25 6.45% $17,612
    UNITED WHOLESALE MORTGAGE, LLC 10 5.87% $20,200
    QUICKEN LOANS, LLC 8 6.06% $14,833
    CROSSCOUNTRY MORTGAGE, LLC 6 6.32% $15,554
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.92% $17,457
    SUMMIT FUNDING, INC. 5 7.40% $16,755
    MASON MCDUFFIE MORTGAGE CORPORATION 4 6.88% $17,550
    UNITED 4 6.63% $11,389
    CALCON MUTUAL MORTGAGE LLC 3 7.16% $17,934
    MOVEMENT MORTGAGE, LLC 2 6.56% $21,778
    GREATER NEVADA LLC 2 7.75% $11,760
    NFM, INC. 2 6.13% $16,748
    EAGLE HOME MORTGAGE, LLC 2 5.38% $12,519
    AmeriHome Mortgage Company, LLC 2 6.44% $17,299
    LOANDEPOT.COM, LLC 2 6.12% $16,870
    FREEDOM MORTGAGE CORPORATION 2 7.25% $12,138
    Gateway First Bank 2 7.25% $10,491
    Sierra Pacific Mortgage Company, Inc. 1 5.99% $24,459
    The Federal Savings Bank 1 6.88% $19,359
    The Loan Store, Inc. 1 6.88% $14,008
    TJC Mortgage, Inc. 1 7.13% $17,340
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.38% $25,375
    U.S. Bank 1 5.99% $11,283
    AMERISAVE MORTGAGE CORPORATION 1 7.75% $14,417
    BAY EQUITY LLC 1 5.99% $22,625
    Century Mortgage Company DBA Century Lending Company 1 7.13% $15,890
    Cornerstone First Mortgage, Inc 1 5.88% $20,141
    Flagstar Bank, FSB 1 6.75% $16,819
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.49% $22,578
    INTERNATIONAL CITY MORTGAGE, INC. 1 6.88% $16,491
    ISERVE RESIDENTIAL LENDING, LLC 1 7.75% $17,225
    LAND HOME FINANCIAL SERVICES, INC. 1 6.50% $20,158
    LOANPAL, LLC 1 6.99% $15,604
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $19,175
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $21,980
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 5.75% $12,645
    Plains Commerce Bank 1 6.00% $28,831
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.63% $17,165
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.25% $15,402

    The top Carson City FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 25 FHA loans originated. Their average total fees are $17,612, which is $2,588 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Carson City FHA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($17,612), UNITED WHOLESALE MORTGAGE, LLC ($20,200), .

    The lowest rate Carson City FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.87%), GUILD MORTGAGE COMPANY (6.45%), .

    Carson City FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CARSON CITY, NV CARSON CITY 2022 $448,500 $574,150 $694,000 $862,500
    CARSON CITY, NV CARSON CITY 2023 $506,000 $647,750 $783,000 $973,100

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Carson City (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 $359,925 (12.3%) $445,927 (15.5%) 0.00 78
    2018-02-01 $369,700 (23.6%) $438,097 (18.0%) 0.00 61
    2018-03-01 $399,900 (34.4%) $434,225 (17.1%) 0.00 59
    2018-04-01 $408,150 (22.2%) $447,672 (17.6%) 0.00 65
    2018-05-01 $377,175 (12.4%) $441,020 (15.3%) 0.00 70
    2018-06-01 $395,000 (16.3%) $458,939 (16.2%) 0.00 70
    2018-07-01 $386,975 (8.1%) $448,788 (11.3%) 0.00 84
    2018-08-01 $386,963 (8.4%) $446,962 (8.3%) 0.00 93
    2018-09-01 $385,000 (6.9%) $438,305 (4.6%) 0.00 106
    2018-10-01 $379,975 (-1.1%) $437,021 (-0.2%) 0.00 106
    2018-11-01 $364,950 (-4.3%) $424,720 (-4.0%) 0.00 109
    2018-12-01 $366,000 (-0.8%) $430,461 (0.8%) 0.00 90
    2019-01-01 $379,688 (5.5%) $427,670 (-4.1%) 0.00 82
    2019-02-01 $411,625 (11.3%) $433,028 (-1.2%) 0.00 82
    2019-03-01 $402,536 (0.7%) $442,488 (1.9%) 0.00 86
    2019-04-01 $390,036 (-4.4%) $457,506 (2.2%) 0.00 90
    2019-05-01 $402,475 (6.7%) $473,398 (7.3%) 0.00 100
    2019-06-01 $407,000 (3.0%) $463,251 (0.9%) 0.00 124
    2019-07-01 $389,889 (0.8%) $460,414 (2.6%) 0.00 138
    2019-08-01 $391,123 (1.1%) $473,722 (6.0%) 0.00 142
    2019-09-01 $377,807 (-1.9%) $476,603 (8.7%) 0.00 138
    2019-10-01 $361,225 (-4.9%) $478,523 (9.5%) 0.00 132
    2019-11-01 $357,500 (-2.0%) $492,430 (15.9%) 0.00 115
    2019-12-01 $363,725 (-0.6%) $527,170 (22.5%) 0.00 96
    2020-01-01 $358,250 (-5.7%) $477,262 (11.6%) 0.00 84
    2020-02-01 $349,200 (-15.2%) $428,412 (-1.1%) 0.00 67
    2020-03-01 $355,950 (-11.6%) $442,491 (0.0%) 0.00 73
    2020-04-01 $395,000 (1.3%) $462,887 (1.2%) 0.00 91
    2020-05-01 $414,950 (3.1%) $479,591 (1.3%) 0.00 92
    2020-06-01 $416,500 (2.3%) $495,261 (6.9%) 0.00 76
    2020-07-01 $407,500 (4.5%) $498,767 (8.3%) 0.00 68
    2020-08-01 $395,000 (1.0%) $487,530 (2.9%) 0.00 62
    2020-09-01 $385,750 (2.1%) $505,593 (6.1%) 0.00 63
    2020-10-01 $380,000 (5.2%) $477,438 (-0.2%) 0.00 53
    2020-11-01 $394,950 (10.5%) $473,913 (-3.8%) 0.00 45
    2020-12-01 $401,125 (10.3%) $1,009,533 (91.5%) 0.00 30
    2021-01-01 $409,000 (14.2%) $1,053,877 (120.8%) 0.00 30
    2021-02-01 $417,350 (19.5%) $1,315,226 (207.0%) 0.00 18
    2021-03-01 $414,500 (16.5%) $1,137,834 (157.1%) 0.00 30
    2021-04-01 $426,225 (7.9%) $894,317 (93.2%) 0.00 56
    2021-05-01 $443,500 (6.9%) $939,639 (95.9%) 0.00 44
    2021-06-01 $500,950 (20.3%) $970,927 (96.0%) 0.00 45
    2021-07-01 $507,000 (24.4%) $922,936 (85.0%) 0.00 56
    2021-08-01 $494,000 (25.1%) $840,008 (72.3%) 0.00 77
    2021-09-01 $534,450 (38.6%) $820,828 (62.4%) 0.00 85
    2021-10-01 $545,000 (43.4%) $877,331 (83.8%) 0.00 74
    2021-11-01 $548,350 (38.8%) $680,260 (43.5%) 0.00 65
    2021-12-01 $515,000 (28.4%) $659,379 (-34.7%) 0.00 55
    2022-01-01 $497,500 (21.6%) $643,837 (-38.9%) 0.00 40
    2022-02-01 $481,950 (15.5%) $604,721 (-54.0%) 0.00 44
    2022-03-01 $484,950 (17.0%) $592,110 (-48.0%) 0.00 53
    2022-04-01 $514,800 (20.8%) $657,011 (-26.5%) 0.00 66
    2022-05-01 $507,000 (14.3%) $641,096 (-31.8%) 0.00 74
    2022-06-01 $505,750 (1.0%) $621,071 (-36.0%) 0.00 107
    2022-07-01 $532,000 (4.9%) $757,960 (-17.9%) 0.00 148
    2022-08-01 $492,000 (-0.4%) $746,442 (-11.1%) 0.00 143
    2022-09-01 $475,290 (-11.1%) $701,905 (-14.5%) 0.00 164
    2022-10-01 $475,880 (-12.7%) $710,665 (-19.0%) 0.00 165
    2022-11-01 $499,125 (-9.0%) $773,316 (13.7%) 0.00 151
    2022-12-01 $475,880 (-7.6%) $774,222 (17.4%) 0.00 151
    2023-01-01 $476,612 (-4.2%) $821,731 (27.6%) 0.00 118
    2023-02-01 $470,000 (-2.5%) $924,432 (52.9%) 0.00 79
    2023-03-01 $491,560 (1.4%) $982,526 (65.9%) 0.00 74
    2023-04-01 $499,950 (-2.9%) $932,359 (41.9%) 0.00 74
    2023-05-01 $582,475 (14.9%) $922,774 (43.9%) 0.00 92
    2023-06-01 $509,938 (0.8%) $862,621 (38.9%) 0.00 99
    2023-07-01 $589,950 (10.9%) $850,082 (12.2%) 0.00 104
    2023-08-01 $588,988 (19.7%) $847,794 (13.6%) 0.00 112
    2023-09-01 $574,950 (21.0%) $828,528 (18.0%) 0.00 119
    2023-10-01 $569,000 (19.6%) $837,671 (17.9%) 0.00 131
    2023-11-01 $572,500 (14.7%) $839,374 (8.5%) 0.00 126
    2023-12-01 $549,900 (15.6%) $874,787 (13.0%) 0.00 104
    2024-01-01 $571,706 (20.0%) $925,141 (12.6%) 0.00 94
    2024-02-01 $578,368 (23.1%) $928,292 (0.4%) 0.00 89
    2024-03-01 $545,000 (10.9%) $868,672 (-11.6%) 0.00 96
    2024-04-01 $552,111 (10.4%) $874,296 (-6.2%) 0.00 102
    2024-05-01 $562,401 (-3.5%) $898,645 (-2.6%) 0.00 121
    2024-06-01 $565,000 (10.8%) $871,534 (1.0%) 0.00 133
    2024-07-01 $575,000 (-2.5%) $846,529 (-0.4%) 0.00 138
    2024-08-01 $572,500 (-2.8%) $820,293 (-3.2%) 0.00 143
    2024-09-01 $572,225 (-0.5%) $813,043 (-1.9%) 0.00 136
    2024-10-01 $557,250 (-2.1%) $718,321 (-14.3%) 0.00 137
    2024-11-01 $531,522 (-7.2%) $594,075 (-29.2%) 0.00 127
    Carson City's median listing price for 2024-11-01 was $531,522, a difference of $-40,978 (-7.2%) versus the prior year and $-25,728 versus the prior month.

    Carson City's median listing price comes in at 0% of the national average.

    Carson City's average listing price for 2024-11-01 was $594,075, a difference of $-245,299 (-29.2%) versus the prior year and $-124,246 versus the prior month.

    For the 2024-11-01 period, Carson City had 127 MLS listings, a difference of -10 listings (-7%) versus the prior month and 1 listings (1%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Carson City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,938 sqft
    2018-02-01 0 days 1,990 sqft
    2018-03-01 0 days 1,872 sqft
    2018-04-01 0 days 2,083 sqft
    2018-05-01 0 days 1,864 sqft
    2018-06-01 0 days 1,833 sqft
    2018-07-01 0 days 1,875 sqft
    2018-08-01 0 days 1,965 sqft
    2018-09-01 0 days 1,968 sqft
    2018-10-01 0 days 1,901 sqft
    2018-11-01 0 days 1,892 sqft
    2018-12-01 0 days 1,862 sqft
    2019-01-01 0 days 1,882 sqft
    2019-02-01 0 days 1,948 sqft
    2019-03-01 0 days 1,934 sqft
    2019-04-01 0 days 1,911 sqft
    2019-05-01 0 days 1,990 sqft
    2019-06-01 0 days 2,020 sqft
    2019-07-01 0 days 1,833 sqft
    2019-08-01 0 days 1,801 sqft
    2019-09-01 0 days 1,722 sqft
    2019-10-01 0 days 1,641 sqft
    2019-11-01 0 days 1,666 sqft
    2019-12-01 0 days 1,627 sqft
    2020-01-01 0 days 1,581 sqft
    2020-02-01 0 days 1,588 sqft
    2020-03-01 0 days 1,646 sqft
    2020-04-01 0 days 1,776 sqft
    2020-05-01 0 days 1,868 sqft
    2020-06-01 0 days 1,927 sqft
    2020-07-01 0 days 1,855 sqft
    2020-08-01 0 days 1,775 sqft
    2020-09-01 0 days 1,659 sqft
    2020-10-01 0 days 1,662 sqft
    2020-11-01 0 days 1,671 sqft
    2020-12-01 0 days 1,782 sqft
    2021-01-01 0 days 1,776 sqft
    2021-02-01 0 days 1,753 sqft
    2021-03-01 0 days 1,650 sqft
    2021-04-01 0 days 1,752 sqft
    2021-05-01 0 days 1,596 sqft
    2021-06-01 0 days 1,797 sqft
    2021-07-01 0 days 1,818 sqft
    2021-08-01 0 days 1,789 sqft
    2021-09-01 0 days 1,840 sqft
    2021-10-01 0 days 1,973 sqft
    2021-11-01 0 days 1,910 sqft
    2021-12-01 0 days 1,731 sqft
    2022-01-01 0 days 1,768 sqft
    2022-02-01 0 days 1,609 sqft
    2022-03-01 0 days 1,625 sqft
    2022-04-01 0 days 1,779 sqft
    2022-05-01 0 days 1,758 sqft
    2022-06-01 0 days 1,768 sqft
    2022-07-01 0 days 1,825 sqft
    2022-08-01 0 days 1,745 sqft
    2022-09-01 0 days 1,632 sqft
    2022-10-01 0 days 1,667 sqft
    2022-11-01 0 days 1,694 sqft
    2022-12-01 0 days 1,686 sqft
    2023-01-01 0 days 1,681 sqft
    2023-02-01 0 days 1,676 sqft
    2023-03-01 0 days 1,781 sqft
    2023-04-01 0 days 1,813 sqft
    2023-05-01 0 days 1,982 sqft
    2023-06-01 0 days 1,823 sqft
    2023-07-01 0 days 1,854 sqft
    2023-08-01 0 days 1,944 sqft
    2023-09-01 0 days 1,947 sqft
    2023-10-01 0 days 1,943 sqft
    2023-11-01 0 days 1,950 sqft
    2023-12-01 0 days 1,903 sqft
    2024-01-01 0 days 1,899 sqft
    2024-02-01 0 days 1,854 sqft
    2024-03-01 0 days 1,772 sqft
    2024-04-01 0 days 1,835 sqft
    2024-05-01 0 days 1,907 sqft
    2024-06-01 0 days 1,912 sqft
    2024-07-01 0 days 1,917 sqft
    2024-08-01 0 days 1,907 sqft
    2024-09-01 0 days 1,873 sqft
    2024-10-01 0 days 1,835 sqft
    2024-11-01 0 days 1,768 sqft
    Carson City's median listing age (time on market) for 2024-11-01 was 0 days.

    Carson City's median square footage for active listings during the 2024-11-01 period was 1,768 sqft. One year prior, the average listing was 1,950 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).