Cedar City FHA Loan Rates, Closing Costs & Stats

Cedar City, UT

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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.

    Cedar City's 43 lenders originated 248 FHA loans during 2023. The total origination value was $76,900,000, with an average FHA loan value of $310,081.

    Cedar City FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Cedar City averaged 6.55% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Cedar City's average FHA mortgage closing costs are $9,486.

    The average rate for the prior week (2025-02-07) was 6.46% and one month ago for the week of 2025-01-10, the average rate was 6.62%.

    The average rate one year ago was 6.35%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.35%.

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

    Cedar 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 Cedar City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 51 6.12% $14,968
    GUILD MORTGAGE COMPANY 25 6.39% $19,342
    AMERICAN FINANCIAL NETWORK, INC. 17 6.37% $14,214
    BROKER SOLUTIONS, INC. 16 6.53% $15,898
    QUICKEN LOANS, LLC 12 6.16% $12,092
    DHI MORTGAGE COMPANY, LTD. 9 6.11% $9,882
    SUN AMERICAN MORTGAGE COMPANY 9 6.76% $12,839
    INTERCAP LENDING INC. 7 6.32% $14,536
    CANOPY MORTGAGE, LLC 4 6.63% $14,802
    Plains Commerce Bank 4 6.81% $14,652
    ACADEMY MORTGAGE CORPORATION 3 6.71% $16,719
    MOUNTAIN AMERICA 3 6.33% $9,886
    Carrington Mortgage Services, LLC 2 6.44% $15,131
    AMERICA FIRST 2 6.75% $13,529
    BELEM SERVICING LLC 2 6.94% $15,086
    CITYWIDE HOME LOANS, LLC 2 6.50% $8,875
    FIRST COLONY MORTGAGE CORPORATION 2 5.25% $17,120
    FREEDOM MORTGAGE CORPORATION 2 7.00% $17,921
    LOANDEPOT.COM, LLC 2 6.12% $15,344
    MANN FINANCIAL INC. 2 6.50% $13,048
    MY MOVE MORTGAGE, LLC 2 6.50% $13,897
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 5.50% $13,838
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $9,543
    UTAH COMMUNITY 1 6.38% $9,971
    LOANPAL, LLC 1 5.63% $11,062
    VERITAS FUNDING, LLC 1 6.38% $11,708
    CASTLE & COOKE MORTGAGE, LLC 1 7.25% $20,299
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $11,939
    VILLAGE CAPITAL MORTGAGE 1 5.75% $14,535
    NATIONS DIRECT MORTGAGE, LLC 1 7.63% $6,448
    PENNYMAC LOAN SERVICES, LLC 1 6.25% $14,465
    CARDINAL FINANCIAL 1 5.13% $8,123
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.49% $13,248
    BAY EQUITY LLC 1 6.75% $14,343
    RANLIFE, INC. 1 7.25% $16,544
    SOVEREIGN LENDING GROUP INCORPORATED 1 5.50% $16,944
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $20,315
    The Federal Savings Bank 1 7.63% $12,384
    AMERICAN FINANCING CORPORATION 1 6.38% $6,605
    U.S. Bank 1 7.25% $5,816
    GENEVA FINANCIAL, LLC 1 5.75% $20,862
    DIRECT MORTGAGE, CORP. 1 6.13% $12,251
    HOMESIDE FINANCIAL, LLC 1 6.75% $14,538

    The top Cedar City FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 51 FHA loans originated. Their average total fees are $14,968, which is $4,374 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Cedar City FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($12,092), AMERICAN FINANCIAL NETWORK, INC. ($14,214), UNITED WHOLESALE MORTGAGE, LLC ($14,968), BROKER SOLUTIONS, INC. ($15,898) and GUILD MORTGAGE COMPANY ($19,342).

    The lowest rate Cedar City FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.12%), QUICKEN LOANS, LLC (6.16%), AMERICAN FINANCIAL NETWORK, INC. (6.37%), GUILD MORTGAGE COMPANY (6.39%) and BROKER SOLUTIONS, INC. (6.53%).

    Cedar City FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CEDAR CITY, UT IRON 2022 $420,680 $538,650 $651,050 $809,150
    CEDAR CITY, UT IRON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Cedar 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 $257,675 (17.2%) $313,487 (2.5%) 0.00 422
    2018-02-01 $256,350 (16.3%) $310,480 (-1.0%) 0.00 444
    2018-03-01 $249,900 (11.8%) $304,144 (0.3%) 0.00 449
    2018-04-01 $253,150 (10.1%) $314,585 (3.9%) 0.00 472
    2018-05-01 $254,925 (8.5%) $314,965 (3.0%) 0.00 492
    2018-06-01 $265,000 (12.7%) $326,910 (5.3%) 0.00 510
    2018-07-01 $261,528 (13.7%) $328,142 (8.4%) 0.00 540
    2018-08-01 $255,400 (8.6%) $329,951 (7.5%) 0.00 514
    2018-09-01 $263,900 (10.2%) $338,731 (8.8%) 0.00 494
    2018-10-01 $249,950 (1.4%) $326,220 (5.1%) 0.00 482
    2018-11-01 $252,500 (1.0%) $314,711 (3.6%) 0.00 460
    2018-12-01 $249,900 (0.0%) $306,059 (1.9%) 0.00 437
    2019-01-01 $255,686 (-0.8%) $313,952 (0.2%) 0.00 413
    2019-02-01 $259,450 (1.2%) $320,792 (3.3%) 0.00 407
    2019-03-01 $257,043 (2.9%) $316,006 (3.9%) 0.00 420
    2019-04-01 $259,900 (2.7%) $313,865 (-0.2%) 0.00 428
    2019-05-01 $264,950 (3.9%) $315,886 (0.3%) 0.00 427
    2019-06-01 $250,000 (-5.7%) $314,951 (-3.7%) 0.00 484
    2019-07-01 $257,975 (-1.4%) $319,027 (-2.8%) 0.00 491
    2019-08-01 $259,600 (1.6%) $320,805 (-2.8%) 0.00 475
    2019-09-01 $259,825 (-1.5%) $323,137 (-4.6%) 0.00 450
    2019-10-01 $263,950 (5.6%) $324,692 (-0.5%) 0.00 435
    2019-11-01 $268,900 (6.5%) $323,026 (2.6%) 0.00 421
    2019-12-01 $267,500 (7.0%) $324,673 (6.1%) 0.00 419
    2020-01-01 $269,000 (5.2%) $334,734 (6.6%) 0.00 405
    2020-02-01 $275,000 (6.0%) $340,510 (6.2%) 0.00 353
    2020-03-01 $289,450 (12.6%) $339,407 (7.4%) 0.00 363
    2020-04-01 $289,925 (11.6%) $337,676 (7.6%) 0.00 395
    2020-05-01 $289,900 (9.4%) $332,529 (5.3%) 0.00 396
    2020-06-01 $289,821 (15.9%) $329,579 (4.6%) 0.00 384
    2020-07-01 $299,250 (16.0%) $336,580 (5.5%) 0.00 317
    2020-08-01 $339,000 (30.6%) $416,736 (29.9%) 0.00 245
    2020-09-01 $342,450 (31.8%) $459,331 (42.2%) 0.00 188
    2020-10-01 $339,000 (28.4%) $470,116 (44.8%) 0.00 163
    2020-11-01 $329,225 (22.4%) $485,046 (50.2%) 0.00 156
    2020-12-01 $346,250 (29.4%) $486,574 (49.9%) 0.00 145
    2021-01-01 $347,000 (29.0%) $509,930 (52.3%) 0.00 129
    2021-02-01 $349,950 (27.3%) $530,863 (55.9%) 0.00 113
    2021-03-01 $359,900 (24.3%) $530,969 (56.4%) 0.00 117
    2021-04-01 $371,725 (28.2%) $528,486 (56.5%) 0.00 116
    2021-05-01 $399,900 (37.9%) $515,393 (55.0%) 0.00 117
    2021-06-01 $417,450 (44.0%) $545,215 (65.4%) 0.00 138
    2021-07-01 $405,900 (35.6%) $542,178 (61.1%) 0.00 187
    2021-08-01 $412,475 (21.7%) $556,207 (33.5%) 0.00 180
    2021-09-01 $409,725 (19.7%) $543,610 (18.4%) 0.00 197
    2021-10-01 $419,900 (23.9%) $549,857 (17.0%) 0.00 177
    2021-11-01 $420,750 (27.8%) $569,434 (17.4%) 0.00 152
    2021-12-01 $427,725 (23.5%) $552,931 (13.6%) 0.00 144
    2022-01-01 $435,000 (25.4%) $543,805 (6.6%) 0.00 129
    2022-02-01 $478,500 (36.7%) $566,653 (6.7%) 0.00 141
    2022-03-01 $450,000 (25.0%) $561,831 (5.8%) 0.00 135
    2022-04-01 $484,450 (30.3%) $577,227 (9.2%) 0.00 188
    2022-05-01 $457,450 (14.4%) $560,199 (8.7%) 0.00 255
    2022-06-01 $445,750 (6.8%) $561,489 (3.0%) 0.00 349
    2022-07-01 $444,800 (9.6%) $552,420 (1.9%) 0.00 413
    2022-08-01 $440,000 (6.7%) $549,585 (-1.2%) 0.00 432
    2022-09-01 $457,500 (11.7%) $554,580 (2.0%) 0.00 410
    2022-10-01 $450,000 (7.2%) $546,920 (-0.5%) 0.00 385
    2022-11-01 $439,325 (4.4%) $534,770 (-6.1%) 0.00 376
    2022-12-01 $445,000 (4.0%) $539,229 (-2.5%) 0.00 353
    2023-01-01 $435,000 (0.0%) $520,187 (-4.3%) 0.00 308
    2023-02-01 $433,675 (-9.4%) $521,626 (-8.0%) 0.00 311
    2023-03-01 $429,900 (-4.5%) $518,616 (-7.7%) 0.00 300
    2023-04-01 $429,900 (-11.3%) $532,367 (-7.8%) 0.00 311
    2023-05-01 $431,225 (-5.7%) $543,608 (-3.0%) 0.00 333
    2023-06-01 $436,000 (-2.2%) $545,691 (-2.8%) 0.00 354
    2023-07-01 $437,500 (-1.6%) $525,751 (-4.8%) 0.00 380
    2023-08-01 $433,500 (-1.5%) $536,854 (-2.3%) 0.00 371
    2023-09-01 $440,000 (-3.8%) $547,287 (-1.3%) 0.00 357
    2023-10-01 $449,925 (0.0%) $547,783 (0.2%) 0.00 354
    2023-11-01 $449,200 (2.3%) $548,284 (2.5%) 0.00 346
    2023-12-01 $445,950 (0.2%) $537,557 (-0.3%) 0.00 321
    2024-01-01 $432,000 (-0.7%) $492,773 (-5.3%) 0.00 307
    2024-02-01 $419,500 (-3.3%) $487,932 (-6.5%) 0.00 316
    2024-03-01 $429,700 (-0.1%) $501,772 (-3.3%) 0.00 339
    2024-04-01 $429,925 (0.0%) $488,791 (-8.2%) 0.00 350
    2024-05-01 $429,450 (-0.4%) $508,542 (-6.5%) 0.00 376
    2024-06-01 $437,000 (0.2%) $534,373 (-2.1%) 0.00 402
    2024-07-01 $429,975 (-1.7%) $526,682 (0.2%) 0.00 433
    2024-08-01 $425,000 (-2.0%) $511,812 (-4.7%) 0.00 447
    2024-09-01 $429,950 (-2.3%) $507,551 (-7.3%) 0.00 462
    2024-10-01 $429,500 (-4.5%) $510,507 (-6.8%) 0.00 464
    2024-11-01 $430,000 (-4.3%) $523,150 (-4.6%) 0.00 444
    2024-12-01 $425,000 (-4.7%) $514,915 (-4.2%) 0.00 414
    2025-01-01 $425,000 (-1.6%) $507,511 (3.0%) 0.00 405
    Cedar City's median listing price for 2025-01-01 was $425,000, a difference of $-7,000 (-1.6%) versus the prior year and $0 versus the prior month.

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

    Cedar City's average listing price for 2025-01-01 was $507,511, a difference of $14,738 (3.0%) versus the prior year and $-7,404 versus the prior month.

    For the 2025-01-01 period, Cedar City had 405 MLS listings, a difference of -9 listings (-2%) versus the prior month and 98 listings (32%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Cedar 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 2,089 sqft
    2018-02-01 0 days 2,110 sqft
    2018-03-01 0 days 2,080 sqft
    2018-04-01 0 days 2,104 sqft
    2018-05-01 0 days 2,083 sqft
    2018-06-01 0 days 2,208 sqft
    2018-07-01 0 days 2,106 sqft
    2018-08-01 0 days 2,078 sqft
    2018-09-01 0 days 2,145 sqft
    2018-10-01 0 days 2,077 sqft
    2018-11-01 0 days 2,086 sqft
    2018-12-01 0 days 2,016 sqft
    2019-01-01 0 days 2,084 sqft
    2019-02-01 0 days 2,033 sqft
    2019-03-01 0 days 1,958 sqft
    2019-04-01 0 days 1,951 sqft
    2019-05-01 0 days 1,909 sqft
    2019-06-01 0 days 1,892 sqft
    2019-07-01 0 days 1,868 sqft
    2019-08-01 0 days 1,889 sqft
    2019-09-01 0 days 1,877 sqft
    2019-10-01 0 days 1,897 sqft
    2019-11-01 0 days 1,944 sqft
    2019-12-01 0 days 1,882 sqft
    2020-01-01 0 days 1,898 sqft
    2020-02-01 0 days 1,899 sqft
    2020-03-01 0 days 1,901 sqft
    2020-04-01 0 days 1,912 sqft
    2020-05-01 0 days 1,855 sqft
    2020-06-01 0 days 1,852 sqft
    2020-07-01 0 days 1,959 sqft
    2020-08-01 0 days 2,258 sqft
    2020-09-01 0 days 2,276 sqft
    2020-10-01 0 days 2,210 sqft
    2020-11-01 0 days 2,092 sqft
    2020-12-01 0 days 2,078 sqft
    2021-01-01 0 days 1,899 sqft
    2021-02-01 0 days 1,939 sqft
    2021-03-01 0 days 2,030 sqft
    2021-04-01 0 days 2,017 sqft
    2021-05-01 0 days 1,983 sqft
    2021-06-01 0 days 2,308 sqft
    2021-07-01 0 days 2,118 sqft
    2021-08-01 0 days 1,923 sqft
    2021-09-01 0 days 1,957 sqft
    2021-10-01 0 days 1,808 sqft
    2021-11-01 0 days 1,809 sqft
    2021-12-01 0 days 1,827 sqft
    2022-01-01 0 days 1,843 sqft
    2022-02-01 0 days 1,904 sqft
    2022-03-01 0 days 1,909 sqft
    2022-04-01 0 days 1,927 sqft
    2022-05-01 0 days 1,815 sqft
    2022-06-01 0 days 1,831 sqft
    2022-07-01 0 days 1,824 sqft
    2022-08-01 0 days 1,878 sqft
    2022-09-01 0 days 1,984 sqft
    2022-10-01 0 days 1,950 sqft
    2022-11-01 0 days 1,919 sqft
    2022-12-01 0 days 1,880 sqft
    2023-01-01 0 days 1,842 sqft
    2023-02-01 0 days 1,832 sqft
    2023-03-01 0 days 1,824 sqft
    2023-04-01 0 days 1,810 sqft
    2023-05-01 0 days 1,821 sqft
    2023-06-01 0 days 1,822 sqft
    2023-07-01 0 days 1,800 sqft
    2023-08-01 0 days 1,811 sqft
    2023-09-01 0 days 1,880 sqft
    2023-10-01 0 days 1,864 sqft
    2023-11-01 0 days 1,831 sqft
    2023-12-01 0 days 1,800 sqft
    2024-01-01 0 days 1,797 sqft
    2024-02-01 0 days 1,715 sqft
    2024-03-01 0 days 1,759 sqft
    2024-04-01 0 days 1,715 sqft
    2024-05-01 0 days 1,720 sqft
    2024-06-01 0 days 1,808 sqft
    2024-07-01 0 days 1,796 sqft
    2024-08-01 0 days 1,776 sqft
    2024-09-01 0 days 1,806 sqft
    2024-10-01 0 days 1,811 sqft
    2024-11-01 0 days 1,806 sqft
    2024-12-01 0 days 1,793 sqft
    2025-01-01 0 days 1,769 sqft
    Cedar City's median listing age (time on market) for 2025-01-01 was 0 days.

    Cedar City's median square footage for active listings during the 2025-01-01 period was 1,769 sqft. One year prior, the average listing was 1,797 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).