Coeur D'alene FHA Loans

COEUR D'ALENE, ID

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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.

    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).