Chico FHA Loan Rates, Closing Costs & Stats
CHICO, CA
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.
Chico's 71 lenders originated 433 FHA loans during 2023. The total origination value was $141,885,000, with an average FHA loan value of $327,679.
Chico FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Chico
averaged
5.81%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Chico's average FHA mortgage closing costs are $9,577.
The average rate for the prior week (2024-09-27) was
5.6% and
one month ago for the week of 2024-08-30, the
average rate was 6.16%.
The average rate one year ago was 7%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.81%.
Chico 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 Chico level.
The top Chico FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
50 FHA loans originated. Their average total fees are
$12,628, which is $3,703
lower than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee Chico FHA lenders (with over 10 loans originated) are
Paramount Residential Mortgage Group, Inc. ($10,865), MASON MCDUFFIE MORTGAGE CORPORATION ($10,872), DHI MORTGAGE COMPANY, LTD. ($11,427), QUICKEN LOANS, LLC ($12,440) and UNITED WHOLESALE MORTGAGE, LLC ($12,628).
The lowest rate Chico FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.31%), CALIBER HOME LOANS, INC. (6.08%), QUICKEN LOANS, LLC (6.16%), UNITED WHOLESALE MORTGAGE, LLC (6.29%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.42%).
Chico FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
CHICO, CA | BUTTE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CHICO, CA | BUTTE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Chico (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $287,450 (-0.1%) | $381,482 (10.3%) | 1.07 | 415 |
2018-02-01 | $293,750 (2.1%) | $380,820 (7.5%) | 1.07 | 421 |
2018-03-01 | $329,000 (14.3%) | $409,710 (16.5%) | 1.15 | 470 |
2018-04-01 | $324,950 (12.4%) | $390,656 (5.7%) | 1.10 | 520 |
2018-05-01 | $329,625 (12.6%) | $394,542 (4.6%) | 1.10 | 588 |
2018-06-01 | $319,000 (9.6%) | $383,183 (4.3%) | 1.06 | 628 |
2018-07-01 | $323,475 (12.4%) | $387,403 (7.5%) | 1.08 | 679 |
2018-08-01 | $316,375 (9.9%) | $376,846 (3.3%) | 1.06 | 711 |
2018-09-01 | $315,500 (9.6%) | $366,600 (-1.6%) | 1.06 | 731 |
2018-10-01 | $312,500 (8.3%) | $367,177 (-1.3%) | 1.06 | 726 |
2018-11-01 | $302,438 (5.1%) | $370,054 (0.0%) | 1.03 | 574 |
2018-12-01 | $329,000 (14.3%) | $392,817 (4.0%) | 1.13 | 342 |
2019-01-01 | $334,500 (16.4%) | $391,621 (2.7%) | 1.16 | 395 |
2019-02-01 | $333,125 (13.4%) | $384,086 (0.9%) | 1.13 | 412 |
2019-03-01 | $346,714 (5.4%) | $397,138 (-3.1%) | 1.13 | 388 |
2019-04-01 | $366,214 (12.7%) | $416,363 (6.6%) | 1.16 | 400 |
2019-05-01 | $370,000 (12.3%) | $427,475 (8.4%) | 1.16 | 498 |
2019-06-01 | $369,000 (15.7%) | $424,173 (10.7%) | 1.15 | 554 |
2019-07-01 | $358,255 (10.8%) | $421,912 (8.9%) | 1.12 | 613 |
2019-08-01 | $355,462 (12.4%) | $421,463 (11.8%) | 1.13 | 629 |
2019-09-01 | $352,390 (11.7%) | $421,589 (15.0%) | 1.13 | 613 |
2019-10-01 | $350,000 (12.0%) | $421,673 (14.8%) | 1.13 | 585 |
2019-11-01 | $349,500 (15.6%) | $423,281 (14.4%) | 1.15 | 528 |
2019-12-01 | $351,715 (6.9%) | $431,692 (9.9%) | 1.17 | 464 |
2020-01-01 | $362,500 (8.4%) | $445,568 (13.8%) | 1.21 | 389 |
2020-02-01 | $379,500 (13.9%) | $440,942 (14.8%) | 1.24 | 351 |
2020-03-01 | $389,000 (12.2%) | $454,168 (14.4%) | 1.22 | 346 |
2020-04-01 | $399,000 (9.0%) | $466,651 (12.1%) | 1.25 | 347 |
2020-05-01 | $418,000 (13.0%) | $474,953 (11.1%) | 1.27 | 364 |
2020-06-01 | $424,000 (14.9%) | $475,467 (12.1%) | 1.25 | 345 |
2020-07-01 | $402,500 (12.4%) | $479,779 (13.7%) | 1.17 | 305 |
2020-08-01 | $417,000 (17.3%) | $480,119 (13.9%) | 1.19 | 307 |
2020-09-01 | $399,750 (13.4%) | $473,628 (12.3%) | 1.15 | 288 |
2020-10-01 | $398,000 (13.7%) | $460,962 (9.3%) | 1.14 | 308 |
2020-11-01 | $389,000 (11.3%) | $456,687 (7.9%) | 1.14 | 321 |
2020-12-01 | $399,000 (13.4%) | $459,476 (6.4%) | 1.19 | 266 |
2021-01-01 | $399,500 (10.2%) | $464,709 (4.3%) | 1.19 | 244 |
2021-02-01 | $421,875 (11.2%) | $511,847 (16.1%) | 1.23 | 234 |
2021-03-01 | $417,500 (7.3%) | $514,203 (13.2%) | 1.18 | 233 |
2021-04-01 | $430,250 (7.8%) | $547,253 (17.3%) | 1.16 | 224 |
2021-05-01 | $450,000 (7.7%) | $562,905 (18.5%) | 1.20 | 236 |
2021-06-01 | $452,250 (6.7%) | $564,564 (18.7%) | 1.19 | 252 |
2021-07-01 | $447,000 (11.1%) | $550,888 (14.8%) | 1.18 | 282 |
2021-08-01 | $433,750 (4.0%) | $510,201 (6.3%) | 1.16 | 312 |
2021-09-01 | $437,450 (9.4%) | $502,209 (6.0%) | 1.17 | 317 |
2021-10-01 | $449,000 (12.8%) | $541,429 (17.5%) | 1.20 | 324 |
2021-11-01 | $450,000 (15.7%) | $555,696 (21.7%) | 1.20 | 287 |
2021-12-01 | $449,000 (12.5%) | $543,326 (18.3%) | 1.22 | 245 |
2022-01-01 | $442,500 (10.8%) | $541,457 (16.5%) | 1.20 | 198 |
2022-02-01 | $449,950 (6.7%) | $535,830 (4.7%) | 1.17 | 211 |
2022-03-01 | $449,225 (7.6%) | $523,628 (1.8%) | 1.12 | 226 |
2022-04-01 | $480,000 (11.6%) | $553,498 (1.1%) | 1.14 | 264 |
2022-05-01 | $472,000 (4.9%) | $888,874 (57.9%) | 1.08 | 341 |
2022-06-01 | $468,750 (3.7%) | $547,222 (-3.1%) | 1.04 | 391 |
2022-07-01 | $455,000 (1.8%) | $532,510 (-3.3%) | 1.03 | 482 |
2022-08-01 | $457,450 (5.5%) | $529,080 (3.7%) | 1.06 | 523 |
2022-09-01 | $450,000 (2.9%) | $517,905 (3.1%) | 1.05 | 509 |
2022-10-01 | $444,900 (-0.9%) | $515,680 (-4.8%) | 1.05 | 509 |
2022-11-01 | $434,950 (-3.3%) | $510,628 (-8.1%) | 1.05 | 480 |
2022-12-01 | $435,000 (-3.1%) | $513,784 (-5.4%) | 1.07 | 446 |
2023-01-01 | $423,000 (-4.4%) | $506,806 (-6.4%) | 1.05 | 382 |
2023-02-01 | $427,113 (-5.1%) | $519,039 (-3.1%) | 1.03 | 342 |
2023-03-01 | $431,175 (-4.0%) | $518,304 (-1.0%) | 1.02 | 318 |
2023-04-01 | $438,500 (-8.7%) | $521,388 (-5.8%) | 1.02 | 302 |
2023-05-01 | $429,975 (-8.9%) | $519,607 (-41.5%) | 0.98 | 339 |
2023-06-01 | $429,113 (-8.5%) | $516,580 (-5.6%) | 0.96 | 359 |
2023-07-01 | $429,925 (-5.5%) | $514,767 (-3.3%) | 0.98 | 366 |
2023-08-01 | $433,625 (-5.2%) | $521,724 (-1.4%) | 1.00 | 374 |
2023-09-01 | $425,000 (-5.6%) | $510,437 (-1.4%) | 0.99 | 406 |
2023-10-01 | $426,975 (-4.0%) | $506,339 (-1.8%) | 1.00 | 426 |
2023-11-01 | $439,500 (1.1%) | $557,197 (9.1%) | 1.05 | 420 |
2023-12-01 | $431,750 (-0.8%) | $541,538 (5.4%) | 1.05 | 360 |
2024-01-01 | $424,950 (0.5%) | $525,493 (3.7%) | 1.04 | 328 |
2024-02-01 | $420,925 (-1.5%) | $522,244 (0.6%) | 1.01 | 316 |
2024-03-01 | $430,000 (-0.3%) | $528,711 (2.0%) | 1.01 | 349 |
2024-04-01 | $434,000 (-1.0%) | $542,244 (4.0%) | 1.01 | 391 |
2024-05-01 | $449,125 (4.5%) | $554,507 (6.7%) | 1.02 | 454 |
2024-06-01 | $449,000 (4.6%) | $548,352 (6.2%) | 1.01 | 487 |
2024-07-01 | $434,500 (1.1%) | $543,103 (5.5%) | 0.99 | 515 |
2024-08-01 | $424,900 (-2.0%) | $537,131 (3.0%) | 0.99 | 520 |
2024-09-01 | $425,000 (0.0%) | $532,535 (4.3%) | 0.00 | 515 |
Chico's median listing price comes in at 0% of the national average.
Chico's average listing price for 2024-09-01 was $532,535, a difference of $22,098 (4.3%) versus the prior year and $-4,596 versus the prior month.
For the 2024-09-01 period, Chico had 515 MLS listings, a difference of -5 listings (-1%) versus the prior month and 109 listings (27%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Chico (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 55 days | 1,621 sqft |
2018-02-01 | 38 days | 1,610 sqft |
2018-03-01 | 31 days | 1,694 sqft |
2018-04-01 | 39 days | 1,667 sqft |
2018-05-01 | 34 days | 1,708 sqft |
2018-06-01 | 36 days | 1,681 sqft |
2018-07-01 | 39 days | 1,673 sqft |
2018-08-01 | 44 days | 1,639 sqft |
2018-09-01 | 48 days | 1,615 sqft |
2018-10-01 | 53 days | 1,615 sqft |
2018-11-01 | 55 days | 1,629 sqft |
2018-12-01 | 25 days | 1,615 sqft |
2019-01-01 | 30 days | 1,594 sqft |
2019-02-01 | 32 days | 1,557 sqft |
2019-03-01 | 40 days | 1,588 sqft |
2019-04-01 | 43 days | 1,632 sqft |
2019-05-01 | 36 days | 1,640 sqft |
2019-06-01 | 38 days | 1,684 sqft |
2019-07-01 | 45 days | 1,699 sqft |
2019-08-01 | 49 days | 1,684 sqft |
2019-09-01 | 54 days | 1,684 sqft |
2019-10-01 | 59 days | 1,688 sqft |
2019-11-01 | 65 days | 1,714 sqft |
2019-12-01 | 75 days | 1,715 sqft |
2020-01-01 | 77 days | 1,710 sqft |
2020-02-01 | 80 days | 1,712 sqft |
2020-03-01 | 60 days | 1,755 sqft |
2020-04-01 | 63 days | 1,833 sqft |
2020-05-01 | 64 days | 1,855 sqft |
2020-06-01 | 54 days | 1,865 sqft |
2020-07-01 | 62 days | 1,856 sqft |
2020-08-01 | 51 days | 1,830 sqft |
2020-09-01 | 55 days | 1,756 sqft |
2020-10-01 | 52 days | 1,748 sqft |
2020-11-01 | 49 days | 1,749 sqft |
2020-12-01 | 72 days | 1,753 sqft |
2021-01-01 | 82 days | 1,736 sqft |
2021-02-01 | 63 days | 1,728 sqft |
2021-03-01 | 54 days | 1,708 sqft |
2021-04-01 | 47 days | 1,729 sqft |
2021-05-01 | 36 days | 1,791 sqft |
2021-06-01 | 40 days | 1,755 sqft |
2021-07-01 | 40 days | 1,729 sqft |
2021-08-01 | 45 days | 1,702 sqft |
2021-09-01 | 51 days | 1,713 sqft |
2021-10-01 | 44 days | 1,731 sqft |
2021-11-01 | 51 days | 1,729 sqft |
2021-12-01 | 53 days | 1,702 sqft |
2022-01-01 | 57 days | 1,626 sqft |
2022-02-01 | 36 days | 1,655 sqft |
2022-03-01 | 35 days | 1,646 sqft |
2022-04-01 | 33 days | 1,722 sqft |
2022-05-01 | 36 days | 1,732 sqft |
2022-06-01 | 37 days | 1,714 sqft |
2022-07-01 | 39 days | 1,693 sqft |
2022-08-01 | 46 days | 1,711 sqft |
2022-09-01 | 58 days | 1,690 sqft |
2022-10-01 | 65 days | 1,680 sqft |
2022-11-01 | 64 days | 1,709 sqft |
2022-12-01 | 73 days | 1,712 sqft |
2023-01-01 | 82 days | 1,707 sqft |
2023-02-01 | 81 days | 1,709 sqft |
2023-03-01 | 72 days | 1,676 sqft |
2023-04-01 | 59 days | 1,674 sqft |
2023-05-01 | 43 days | 1,670 sqft |
2023-06-01 | 46 days | 1,668 sqft |
2023-07-01 | 51 days | 1,653 sqft |
2023-08-01 | 50 days | 1,669 sqft |
2023-09-01 | 51 days | 1,658 sqft |
2023-10-01 | 55 days | 1,638 sqft |
2023-11-01 | 58 days | 1,674 sqft |
2023-12-01 | 68 days | 1,671 sqft |
2024-01-01 | 78 days | 1,655 sqft |
2024-02-01 | 78 days | 1,632 sqft |
2024-03-01 | 61 days | 1,654 sqft |
2024-04-01 | 48 days | 1,675 sqft |
2024-05-01 | 42 days | 1,729 sqft |
2024-06-01 | 51 days | 1,714 sqft |
2024-07-01 | 61 days | 1,697 sqft |
2024-08-01 | 65 days | 1,647 sqft |
2024-09-01 | 0 days | 1,636 sqft |
Chico's median square footage for active listings during the 2024-09-01 period was 1,636 sqft. One year prior, the average listing was 1,658 sqft.