Coeur D'alene FHA Loans

COEUR D'ALENE, ID

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.

Coeur D'alene's 61 lenders originated 1,264 FHA loans during 2021. The total origination value was $355,120,000, with an average FHA loan value of $280,949.

Coeur D'alene FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Coeur D'alene averaged 4.95% for the week of 2022-04-08, compared to the national average (all FHA variants) of 4.947% for the same period.

The average rate for the prior week (2022-04-01) was 4.85% and one month ago for the week of 2022-03-04, the average rate was 4.04%.

The average rate one year ago was 3.44%.

For refis of the same type during the week of 2022-04-08, the average rate was 4.53%.

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

Coeur D'alene FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Coeur D'alene level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Willamette Valley Bank 84 3.01% $11,728
QUICKEN LOANS, LLC 33 2.62% $8,385
IDAHO CENTRAL 20 2.85% $12,354
Platinum Home Mortgage Corporation 19 3.12% $12,514
Glacier Bank 18 2.85% $12,571
LAKEVIEW LOAN SERVICING, LLC 17 2.92% $5,689
PREMIER MORTGAGE RESOURCES, L.L.C. 16 3.08% $12,178
FREEDOM MORTGAGE CORPORATION 14 2.91% $6,292
PLANET HOME LENDING, LLC 10 2.65% $6,876
CALIBER HOME LOANS, INC. 9 2.75% $8,340
Mr. Cooper ( Nationstar Mortgage ) 9 3.40% $4,223
UNITED WHOLESALE MORTGAGE, LLC 9 2.57% $9,890
Wallick & Volk, Inc. 8 3.33% $9,419
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 6 3.39% $11,362
Umpqua Bank 6 2.98% $10,986
Washington Trust Bank 6 3.15% $7,724
Sunflower Bank 5 3.25% $11,444
GENEVA FINANCIAL, LLC 5 2.95% $11,240
GUILD MORTGAGE COMPANY 5 2.58% $8,519
LOANDEPOT.COM, LLC 5 3.10% $9,830
MID AMERICA MORTGAGE, INC. 5 3.50% $5,293
PENNYMAC LOAN SERVICES, LLC 5 2.87% $7,747
NEWREZ LLC 4 2.78% $7,889
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 3.56% $11,832
AMERICAN PACIFIC MORTGAGE CORPORATION 4 2.84% $11,318
ENVOY MORTGAGE, LTD 3 2.92% $13,579
AMERICAN FINANCING CORPORATION 3 2.71% $11,761
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 2.38% $12,222
BROKER SOLUTIONS, INC. 3 3.12% $10,298
VILLAGE CAPITAL & INVESTMENT LLC 3 2.79% $3,682
Flagstar Bank, FSB 2 2.75% $8,813
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.63% $12,662
HOME POINT FINANCIAL CORPORATION 2 2.75% $10,462
MOVEMENT MORTGAGE, LLC 2 3.13% $12,095
NUMERICA CREDIT UNION 2 2.88% $11,212
CELEBRITY HOME LOANS, LLC 2 3.50% $11,469
Carrington Mortgage Services, LLC 2 3.13% $9,226
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.75% $11,598
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.25% $13,454
STEARNS LENDING, LLC 2 2.50% $12,379
ACADEMY MORTGAGE CORPORATION 2 3.25% $11,193
The Federal Savings Bank 2 2.81% $11,512
Commerce Home Mortgage, Inc. 1 3.25% $9,919
Banner Bank 1 2.50% $10,836
Barrington Bank & Trust Company, N.A. 1 2.75% $9,878
CROSSCOUNTRY MORTGAGE, LLC 1 3.13% $13,722
EVERETT FINANCIAL, INC. 1 3.38% $6,079
EMBRACE HOME LOANS, INC. 1 3.13% $5,930
GUARANTEED RATE, INC. 1 2.75% $14,919
STARBOARD FINANCIAL MANAGEMENT, LLC 1 3.13% $13,395
First Guaranty Mortgage Corporation 1 2.75% $7,227
SUMMIT FUNDING, INC. 1 4.25% $16,351
Manufacturers and Traders Trust Company 1 3.25% $10,394
AMERISAVE MORTGAGE CORPORATION 1 2.75% $9,742
SUMMIT MORTGAGE CORPORATION 1 3.25% $9,524
CHURCHILL MORTGAGE CORPORATION 1 2.50% $7,453
Nations Lending Corporation 1 3.25% $11,554
NEW DAY FINANCIAL, LLC 1 2.99% $8,405
LEADERONE FINANCIAL CORPORATION 1 2.88% $8,175
First Home Bank 1 2.63% $9,428
Paramount Residential Mortgage Group, Inc. 1 2.63% $9,726

The top Coeur D'alene FHA lender as defined by loan originations is Willamette Valley Bank, with 84 FHA loans originated. Their average total fees are $11,728, which is $3,343 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Coeur D'alene FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($5,689), FREEDOM MORTGAGE CORPORATION ($6,292), PLANET HOME LENDING, LLC ($6,876), QUICKEN LOANS, LLC ($8,385) and Willamette Valley Bank ($11,728).

The lowest rate Coeur D'alene FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.62%), PLANET HOME LENDING, LLC (2.65%), IDAHO CENTRAL (2.85%), Glacier Bank (2.85%) and FREEDOM MORTGAGE CORPORATION (2.91%).

Coeur D'alene FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
COEUR D'ALENE, ID KOOTENAI 2022 $483,000 $618,300 $747,400 $928,850

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Coeur D'alene (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 $388,000 (18.7%) $672,507 (18.4%) 1.43 992
2018-02-01 $399,000 (24.4%) $672,578 (21.4%) 1.44 996
2018-03-01 $385,000 (18.6%) $670,097 (18.2%) 1.33 1,058
2018-04-01 $383,450 (9.6%) $667,027 (11.2%) 1.29 1,189
2018-05-01 $397,000 (10.3%) $687,690 (11.5%) 1.32 1,359
2018-06-01 $399,900 (6.7%) $675,566 (8.1%) 1.33 1,483
2018-07-01 $398,673 (6.3%) $670,402 (8.0%) 1.33 1,552
2018-08-01 $399,995 (4.9%) $676,922 (5.6%) 1.34 1,550
2018-09-01 $399,900 (1.2%) $666,364 (1.1%) 1.34 1,517
2018-10-01 $399,950 (0.8%) $652,117 (-3.3%) 1.34 1,423
2018-11-01 $400,773 (0.4%) $656,296 (-4.8%) 1.34 1,239
2018-12-01 $400,000 (0.0%) $659,963 (-6.7%) 1.37 1,122
2019-01-01 $427,185 (10.1%) $712,901 (6.0%) 1.47 854
2019-02-01 $444,000 (11.3%) $751,109 (11.7%) 1.49 783
2019-03-01 $439,229 (14.1%) $743,620 (11.0%) 1.43 812
2019-04-01 $431,729 (12.6%) $722,110 (8.3%) 1.36 914
2019-05-01 $465,000 (17.1%) $739,513 (7.5%) 1.43 1,025
2019-06-01 $469,900 (17.5%) $736,727 (9.1%) 1.45 1,121
2019-07-01 $469,450 (17.8%) $739,013 (10.2%) 1.46 1,207
2019-08-01 $474,900 (18.7%) $740,709 (9.4%) 1.49 1,188
2019-09-01 $476,200 (19.1%) $739,940 (11.0%) 1.51 1,144
2019-10-01 $450,650 (12.7%) $715,264 (9.7%) 1.44 1,084
2019-11-01 $449,000 (12.0%) $693,428 (5.7%) 1.45 912
2019-12-01 $449,375 (12.3%) $690,726 (4.7%) 1.50 787
2020-01-01 $452,202 (5.9%) $725,704 (1.8%) 1.51 649
2020-02-01 $469,500 (5.7%) $769,664 (2.5%) 1.52 564
2020-03-01 $452,202 (3.0%) $744,837 (0.2%) 1.41 650
2020-04-01 $440,675 (2.1%) $692,323 (-4.1%) 1.37 840
2020-05-01 $449,900 (-3.3%) $691,824 (-6.5%) 1.36 958
2020-06-01 $482,000 (2.6%) $734,758 (-0.3%) 1.41 958
2020-07-01 $479,700 (2.2%) $789,444 (6.8%) 1.37 880
2020-08-01 $490,000 (3.2%) $868,338 (17.2%) 1.40 739
2020-09-01 $499,949 (5.0%) $990,537 (33.9%) 1.43 607
2020-10-01 $526,600 (16.9%) $1,145,309 (60.1%) 1.50 473
2020-11-01 $549,444 (22.4%) $1,191,690 (71.9%) 1.57 281
2020-12-01 $732,500 (63.0%) $1,578,009 (128.5%) 2.15 172
2021-01-01 $750,000 (65.9%) $1,581,657 (118.0%) 2.21 148
2021-02-01 $694,950 (48.0%) $1,509,483 (96.1%) 2.00 203
2021-03-01 $677,000 (49.7%) $1,333,731 (79.1%) 1.90 297
2021-04-01 $825,000 (87.2%) $1,506,856 (117.7%) 2.22 314
2021-05-01 $849,000 (88.7%) $1,544,147 (123.2%) 2.23 362
2021-06-01 $832,000 (72.6%) $1,548,945 (110.8%) 2.16 427
2021-07-01 $784,950 (63.6%) $1,449,170 (83.6%) 2.04 532
2021-08-01 $748,250 (52.7%) $1,246,696 (43.6%) 1.97 596
2021-09-01 $749,450 (49.9%) $1,291,997 (30.4%) 1.97 593
2021-10-01 $713,400 (35.5%) $2,195,440 (91.7%) 1.88 557
2021-11-01 $789,500 (43.7%) $1,402,676 (17.7%) 2.08 391
2021-12-01 $842,450 (15.0%) $1,482,503 (-6.1%) 2.25 313
2022-01-01 $858,150 (14.4%) $1,550,502 (-2.0%) 2.29 202
2022-02-01 $989,375 (42.4%) $1,751,103 (16.0%) 2.52 184
2022-03-01 $1,007,891 (48.9%) $1,805,419 (35.4%) 2.49 237
Coeur D'alene's median listing price for 2022-03-01 was $1,007,891, a difference of $330,891 (48.9%) versus the prior year and $18,516 versus the prior month.

Coeur D'alene's median listing price comes in at 249% of the national average.

Coeur D'alene's average listing price for 2022-03-01 was $1,805,419, a difference of $471,688 (35.4%) versus the prior year and $54,316 versus the prior month.

For the 2022-03-01 period, Coeur D'alene had 237 MLS listings, a difference of 53 listings (29%) versus the prior month and -60 listings (-20%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Coeur D'alene (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 101 days 2,266 sqft
2018-02-01 85 days 2,251 sqft
2018-03-01 56 days 2,184 sqft
2018-04-01 43 days 2,215 sqft
2018-05-01 42 days 2,224 sqft
2018-06-01 45 days 2,258 sqft
2018-07-01 52 days 2,254 sqft
2018-08-01 56 days 2,261 sqft
2018-09-01 59 days 2,210 sqft
2018-10-01 69 days 2,183 sqft
2018-11-01 77 days 2,152 sqft
2018-12-01 88 days 2,153 sqft
2019-01-01 89 days 2,193 sqft
2019-02-01 87 days 2,217 sqft
2019-03-01 57 days 2,169 sqft
2019-04-01 40 days 2,151 sqft
2019-05-01 41 days 2,236 sqft
2019-06-01 46 days 2,310 sqft
2019-07-01 49 days 2,325 sqft
2019-08-01 55 days 2,353 sqft
2019-09-01 61 days 2,344 sqft
2019-10-01 69 days 2,247 sqft
2019-11-01 83 days 2,192 sqft
2019-12-01 87 days 2,204 sqft
2020-01-01 93 days 2,232 sqft
2020-02-01 79 days 2,300 sqft
2020-03-01 28 days 2,209 sqft
2020-04-01 35 days 2,167 sqft
2020-05-01 43 days 2,192 sqft
2020-06-01 42 days 2,236 sqft
2020-07-01 39 days 2,245 sqft
2020-08-01 38 days 2,232 sqft
2020-09-01 38 days 2,230 sqft
2020-10-01 37 days 2,214 sqft
2020-11-01 41 days 2,260 sqft
2020-12-01 50 days 2,357 sqft
2021-01-01 46 days 2,396 sqft
2021-02-01 19 days 2,304 sqft
2021-03-01 16 days 2,276 sqft
2021-04-01 23 days 2,398 sqft
2021-05-01 24 days 2,388 sqft
2021-06-01 24 days 2,400 sqft
2021-07-01 27 days 2,303 sqft
2021-08-01 31 days 2,263 sqft
2021-09-01 35 days 2,292 sqft
2021-10-01 42 days 2,288 sqft
2021-11-01 55 days 2,311 sqft
2021-12-01 65 days 2,328 sqft
2022-01-01 60 days 2,356 sqft
2022-02-01 29 days 2,390 sqft
2022-03-01 26 days 2,445 sqft
Coeur D'alene's median listing age (time on market) for 2022-03-01 was 26 days. This is 63% longer than the same period one year ago.

Coeur D'alene's median square footage for active listings during the 2022-03-01 period was 2,445 sqft. One year prior, the average listing was 2,276 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).