Centralia FHA Loan Rates, Closing Costs & Stats

Centralia, 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.

    Centralia's 60 lenders originated 275 FHA loans during 2023. The total origination value was $90,335,000, with an average FHA loan value of $328,491.

    Centralia FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Centralia averaged 0.27% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Centralia's average FHA mortgage closing costs are $9,865.

    The average rate for the prior week (2024-11-08) was 6.48% and one month ago for the week of 2024-10-11, the average rate was 6.08%.

    The average rate one year ago was 7.32%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.48%.

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

    Centralia 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 Centralia level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    ACADEMY MORTGAGE CORPORATION 36 6.83% $15,964
    SUMMIT FUNDING, INC. 22 6.75% $17,474
    UNITED WHOLESALE MORTGAGE, LLC 21 6.20% $14,250
    QUICKEN LOANS, LLC 15 6.09% $15,568
    MOVEMENT MORTGAGE, LLC 12 7.00% $16,778
    AMERICAN PACIFIC MORTGAGE CORPORATION 11 7.20% $15,719
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 6.99% $14,327
    GUILD MORTGAGE COMPANY 6 6.38% $14,482
    NEWREZ LLC 6 6.50% $17,125
    CROSSCOUNTRY MORTGAGE, LLC 5 6.84% $11,947
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 5 6.93% $15,549
    WASHINGTON STATE EMPLOYEES Credit Union 5 6.45% $9,044
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 6.73% $10,656
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 7.44% $13,068
    Northpointe Bank 4 6.41% $14,514
    CMG MORTGAGE, INC. 4 6.81% $11,604
    MANN FINANCIAL INC. 4 6.72% $14,327
    AXIA FINANCIAL, LLC 4 6.56% $15,476
    CALIBER HOME LOANS, INC. 4 6.13% $17,013
    CHURCHILL MORTGAGE CORPORATION 3 6.71% $16,362
    AMERICAN FINANCIAL NETWORK, INC. 3 6.92% $17,122
    BAY EQUITY LLC 3 7.50% $14,444
    GUARANTEED RATE, INC. 3 6.21% $13,430
    LOANDEPOT.COM, LLC 3 5.67% $14,975
    PLAZA HOME MORTGAGE, INC. 3 7.25% $15,149
    Willamette Valley Bank 3 6.63% $16,624
    CARDINAL FINANCIAL 2 7.69% $14,506
    Loan Simple, Inc. 2 6.50% $17,672
    Mr. Cooper ( Nationstar Mortgage ) 2 5.69% $10,696
    T2 FINANCIAL LLC 2 7.19% $12,318
    NOVA FINANCIAL & INVESTMENT CORPORATION 2 6.94% $13,279
    Flagstar Bank, FSB 2 6.25% $19,851
    FREEDOM MORTGAGE CORPORATION 2 6.50% $17,905
    CALCON MUTUAL MORTGAGE LLC 1 6.63% $11,130
    NEXERA HOLDING LLC 1 5.75% $5,692
    BROKER SOLUTIONS, INC. 1 5.38% $26,743
    OAKTREE FUNDING CORP. 1 5.63% $17,729
    ON Q FINANCIAL, INC. 1 6.99% $11,357
    PANORAMA MORTGAGE GROUP, LLC 1 7.50% $23,282
    AMERICAN FINANCING CORPORATION 1 5.63% $15,957
    Plains Commerce Bank 1 5.88% $19,356
    Alaska USA Federal Credit Union 1 5.50% $10,212
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.75% $9,849
    PRIORITY HOME LENDING, LLC 1 6.25% $11,793
    Boeing Employees Credit Union 1 7.13% $15,288
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $20,560
    SUN WEST MORTGAGE COMPANY, INC. 1 6.25% $23,483
    The Loan Store, Inc. 1 6.99% $12,438
    THRIVE MORTGAGE, LLC 1 6.63% $14,372
    Umpqua Bank 1 5.75% $11,218
    UNION HOME MORTGAGE CORP. 1 6.50% $15,357
    EVERETT FINANCIAL, INC. 1 6.00% $18,519
    Equity Prime Mortgage LLC 1 6.25% $18,420
    Paramount Residential Mortgage Group, Inc. 1 6.25% $15,211
    DAS Acquisition Company, LLC 1 7.38% $14,464
    CRESCENT MORTGAGE COMPANY 1 6.25% $8,285
    VERITAS FUNDING, LLC 1 6.63% $29,721
    CORNERSTONE HOME LENDING, INC. 1 7.50% $16,367
    Mortgage Research Center, LLC 1 7.13% $5,479
    CANOPY MORTGAGE, LLC 1 7.25% $12,772

    The top Centralia FHA lender as defined by loan originations is ACADEMY MORTGAGE CORPORATION, with 36 FHA loans originated. Their average total fees are $15,964, which is $1,510 lower than the next largest lender, SUMMIT FUNDING, INC..

    The lowest fee Centralia FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($14,250), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($14,327), QUICKEN LOANS, LLC ($15,568), AMERICAN PACIFIC MORTGAGE CORPORATION ($15,719) and ACADEMY MORTGAGE CORPORATION ($15,964).

    The lowest rate Centralia FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.09%), UNITED WHOLESALE MORTGAGE, LLC (6.20%), SUMMIT FUNDING, INC. (6.75%), ACADEMY MORTGAGE CORPORATION (6.83%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.99%).

    Centralia FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Centralia (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 $250,000 (30.9%) $324,084 (18.0%) 0.00 222
    2018-02-01 $250,350 (22.3%) $327,215 (17.3%) 0.00 197
    2018-03-01 $265,000 (21.0%) $333,720 (15.8%) 0.00 182
    2018-04-01 $287,475 (19.8%) $351,094 (16.0%) 0.00 177
    2018-05-01 $292,475 (17.0%) $347,039 (13.8%) 0.00 191
    2018-06-01 $289,450 (14.7%) $340,071 (8.2%) 0.00 232
    2018-07-01 $299,500 (19.9%) $352,802 (12.8%) 0.00 245
    2018-08-01 $297,200 (18.9%) $345,225 (10.3%) 0.00 282
    2018-09-01 $299,000 (19.6%) $341,470 (10.2%) 0.00 302
    2018-10-01 $299,250 (20.2%) $343,781 (13.1%) 0.00 296
    2018-11-01 $299,000 (19.6%) $346,281 (10.0%) 0.00 289
    2018-12-01 $314,900 (26.0%) $368,393 (17.0%) 0.00 245
    2019-01-01 $321,250 (28.5%) $379,863 (17.2%) 0.00 200
    2019-02-01 $315,000 (25.8%) $371,656 (13.6%) 0.00 200
    2019-03-01 $314,171 (18.6%) $359,424 (7.7%) 0.00 203
    2019-04-01 $308,584 (7.3%) $353,951 (0.8%) 0.00 186
    2019-05-01 $308,675 (5.5%) $354,552 (2.2%) 0.00 194
    2019-06-01 $312,472 (8.0%) $354,493 (4.2%) 0.00 216
    2019-07-01 $319,000 (6.5%) $364,756 (3.4%) 0.00 234
    2019-08-01 $316,273 (6.4%) $367,084 (6.3%) 0.00 255
    2019-09-01 $312,182 (4.4%) $363,601 (6.5%) 0.00 269
    2019-10-01 $309,455 (3.4%) $361,279 (5.1%) 0.00 279
    2019-11-01 $309,000 (3.3%) $358,218 (3.5%) 0.00 271
    2019-12-01 $299,950 (-4.8%) $363,234 (-1.4%) 0.00 231
    2020-01-01 $312,400 (-2.8%) $386,583 (1.8%) 0.00 224
    2020-02-01 $317,900 (0.9%) $378,725 (1.9%) 0.00 223
    2020-03-01 $313,225 (-0.3%) $378,952 (5.4%) 0.00 232
    2020-04-01 $326,125 (5.7%) $384,492 (8.6%) 0.00 235
    2020-05-01 $329,900 (6.9%) $396,930 (12.0%) 0.00 232
    2020-06-01 $334,500 (7.1%) $401,604 (13.3%) 0.00 221
    2020-07-01 $337,000 (5.6%) $399,479 (9.5%) 0.00 230
    2020-08-01 $349,800 (10.6%) $415,097 (13.1%) 0.00 222
    2020-09-01 $330,000 (5.7%) $410,932 (13.0%) 0.00 233
    2020-10-01 $339,900 (9.8%) $422,429 (16.9%) 0.00 222
    2020-11-01 $342,225 (10.8%) $436,652 (21.9%) 0.00 136
    2020-12-01 $332,000 (10.7%) $430,070 (18.4%) 0.00 111
    2021-01-01 $342,500 (9.6%) $436,670 (13.0%) 0.00 96
    2021-02-01 $349,750 (10.0%) $457,206 (20.7%) 0.00 86
    2021-03-01 $361,250 (15.3%) $458,335 (21.0%) 0.00 79
    2021-04-01 $386,500 (18.5%) $467,885 (21.7%) 0.00 72
    2021-05-01 $399,000 (21.0%) $478,292 (20.5%) 0.00 91
    2021-06-01 $398,225 (19.1%) $512,574 (27.6%) 0.00 107
    2021-07-01 $425,000 (26.1%) $525,499 (31.6%) 0.00 119
    2021-08-01 $436,750 (24.9%) $521,995 (25.8%) 0.00 140
    2021-09-01 $449,450 (36.2%) $510,244 (24.2%) 0.00 152
    2021-10-01 $430,000 (26.5%) $509,445 (20.6%) 0.00 148
    2021-11-01 $449,600 (31.4%) $515,520 (18.1%) 0.00 117
    2021-12-01 $429,500 (29.4%) $494,326 (14.9%) 0.00 92
    2022-01-01 $420,000 (22.6%) $502,297 (15.0%) 0.00 65
    2022-02-01 $429,700 (22.9%) $527,532 (15.4%) 0.00 70
    2022-03-01 $452,000 (25.1%) $571,897 (24.8%) 0.00 74
    2022-04-01 $487,450 (26.1%) $648,477 (38.6%) 0.00 88
    2022-05-01 $539,225 (35.1%) $653,420 (36.6%) 0.00 125
    2022-06-01 $498,700 (25.2%) $618,109 (20.6%) 0.00 194
    2022-07-01 $525,000 (23.5%) $583,845 (11.1%) 0.00 245
    2022-08-01 $499,925 (14.5%) $563,131 (7.9%) 0.00 285
    2022-09-01 $487,250 (8.4%) $550,365 (7.9%) 0.00 289
    2022-10-01 $489,000 (13.7%) $545,424 (7.1%) 0.00 271
    2022-11-01 $487,475 (8.4%) $550,486 (6.8%) 0.00 252
    2022-12-01 $497,500 (15.8%) $556,719 (12.6%) 0.00 194
    2023-01-01 $449,500 (7.0%) $559,476 (11.4%) 0.00 173
    2023-02-01 $485,000 (12.9%) $577,568 (9.5%) 0.00 156
    2023-03-01 $499,000 (10.4%) $584,444 (2.2%) 0.00 145
    2023-04-01 $499,000 (2.4%) $591,389 (-8.8%) 0.00 145
    2023-05-01 $565,750 (4.9%) $612,692 (-6.2%) 0.00 142
    2023-06-01 $550,000 (10.3%) $602,754 (-2.5%) 0.00 162
    2023-07-01 $565,000 (7.6%) $614,020 (5.2%) 0.00 175
    2023-08-01 $545,000 (9.0%) $625,426 (11.1%) 0.00 195
    2023-09-01 $532,500 (9.3%) $618,830 (12.4%) 0.00 203
    2023-10-01 $512,475 (4.8%) $601,639 (10.3%) 0.00 226
    2023-11-01 $506,223 (3.9%) $586,621 (6.6%) 0.00 242
    2023-12-01 $512,450 (3.0%) $592,268 (6.4%) 0.00 224
    2024-01-01 $546,000 (21.5%) $615,292 (10.0%) 0.00 203
    2024-02-01 $545,950 (12.6%) $611,532 (5.9%) 0.00 187
    2024-03-01 $529,900 (6.2%) $589,277 (0.8%) 0.00 201
    2024-04-01 $499,962 (0.2%) $578,194 (-2.2%) 0.00 200
    2024-05-01 $524,950 (-7.2%) $594,238 (-3.0%) 0.00 234
    2024-06-01 $525,000 (-4.6%) $594,357 (-1.4%) 0.00 267
    2024-07-01 $525,000 (-7.1%) $599,873 (-2.3%) 0.00 285
    2024-08-01 $524,725 (-3.7%) $593,992 (-5.0%) 0.00 315
    2024-09-01 $524,750 (-1.5%) $598,785 (-3.2%) 0.00 303
    2024-10-01 $506,800 (-1.1%) $595,746 (-1.0%) 0.00 302
    Centralia's median listing price for 2024-10-01 was $506,800, a difference of $-5,675 (-1.1%) versus the prior year and $-17,950 versus the prior month.

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

    Centralia's average listing price for 2024-10-01 was $595,746, a difference of $-5,893 (-1.0%) versus the prior year and $-3,039 versus the prior month.

    For the 2024-10-01 period, Centralia had 302 MLS listings, a difference of -1 listings (0%) versus the prior month and 76 listings (34%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Centralia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,782 sqft
    2018-02-01 0 days 1,775 sqft
    2018-03-01 0 days 1,875 sqft
    2018-04-01 0 days 1,932 sqft
    2018-05-01 0 days 1,918 sqft
    2018-06-01 0 days 1,908 sqft
    2018-07-01 0 days 1,945 sqft
    2018-08-01 0 days 1,865 sqft
    2018-09-01 0 days 1,864 sqft
    2018-10-01 0 days 1,843 sqft
    2018-11-01 0 days 1,834 sqft
    2018-12-01 0 days 1,878 sqft
    2019-01-01 0 days 1,886 sqft
    2019-02-01 0 days 1,880 sqft
    2019-03-01 0 days 1,851 sqft
    2019-04-01 0 days 1,833 sqft
    2019-05-01 0 days 1,847 sqft
    2019-06-01 0 days 1,782 sqft
    2019-07-01 0 days 1,782 sqft
    2019-08-01 0 days 1,777 sqft
    2019-09-01 0 days 1,770 sqft
    2019-10-01 0 days 1,765 sqft
    2019-11-01 0 days 1,782 sqft
    2019-12-01 0 days 1,782 sqft
    2020-01-01 0 days 1,793 sqft
    2020-02-01 0 days 1,782 sqft
    2020-03-01 0 days 1,757 sqft
    2020-04-01 0 days 1,747 sqft
    2020-05-01 0 days 1,781 sqft
    2020-06-01 0 days 1,801 sqft
    2020-07-01 0 days 1,813 sqft
    2020-08-01 0 days 1,792 sqft
    2020-09-01 0 days 1,716 sqft
    2020-10-01 0 days 1,702 sqft
    2020-11-01 0 days 1,711 sqft
    2020-12-01 0 days 1,761 sqft
    2021-01-01 0 days 1,705 sqft
    2021-02-01 0 days 1,682 sqft
    2021-03-01 0 days 1,577 sqft
    2021-04-01 0 days 1,616 sqft
    2021-05-01 0 days 1,592 sqft
    2021-06-01 0 days 1,644 sqft
    2021-07-01 0 days 1,760 sqft
    2021-08-01 0 days 1,821 sqft
    2021-09-01 0 days 1,839 sqft
    2021-10-01 0 days 1,958 sqft
    2021-11-01 0 days 1,899 sqft
    2021-12-01 0 days 1,800 sqft
    2022-01-01 0 days 1,722 sqft
    2022-02-01 0 days 1,705 sqft
    2022-03-01 0 days 1,786 sqft
    2022-04-01 0 days 1,876 sqft
    2022-05-01 0 days 1,789 sqft
    2022-06-01 0 days 1,762 sqft
    2022-07-01 0 days 1,850 sqft
    2022-08-01 0 days 1,863 sqft
    2022-09-01 0 days 1,810 sqft
    2022-10-01 0 days 1,810 sqft
    2022-11-01 0 days 1,794 sqft
    2022-12-01 0 days 1,792 sqft
    2023-01-01 0 days 1,759 sqft
    2023-02-01 0 days 1,831 sqft
    2023-03-01 0 days 1,864 sqft
    2023-04-01 0 days 1,941 sqft
    2023-05-01 0 days 1,929 sqft
    2023-06-01 0 days 1,873 sqft
    2023-07-01 0 days 1,928 sqft
    2023-08-01 0 days 1,883 sqft
    2023-09-01 0 days 1,888 sqft
    2023-10-01 0 days 1,917 sqft
    2023-11-01 0 days 1,927 sqft
    2023-12-01 0 days 1,898 sqft
    2024-01-01 0 days 1,975 sqft
    2024-02-01 0 days 1,981 sqft
    2024-03-01 0 days 1,958 sqft
    2024-04-01 0 days 1,868 sqft
    2024-05-01 0 days 1,946 sqft
    2024-06-01 0 days 1,920 sqft
    2024-07-01 0 days 1,884 sqft
    2024-08-01 0 days 1,867 sqft
    2024-09-01 0 days 1,800 sqft
    2024-10-01 0 days 1,842 sqft
    Centralia's median listing age (time on market) for 2024-10-01 was 0 days.

    Centralia's median square footage for active listings during the 2024-10-01 period was 1,842 sqft. One year prior, the average listing was 1,917 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).