Coos Bay FHA Loan Rates, Closing Costs & Stats

Coos Bay, OR

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.

Coos Bay's 43 lenders originated 158 FHA loans during 2023. The total origination value was $43,610,000, with an average FHA loan value of $276,013.

Coos Bay FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Coos Bay averaged 6.36% for the week of 2024-10-11, compared to the national average (all FHA variants) of 6.1% for the same period.

Coos Bay's average FHA mortgage closing costs are $9,491.

The average rate for the prior week (2024-10-04) was 5.88% and one month ago for the week of 2024-09-06, the average rate was 5.9%.

The average rate one year ago was 7.43%.

For refis of the same type during the week of 2024-10-11, the average rate was 6.1%.

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

Coos Bay 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 Coos Bay level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
GUILD MORTGAGE COMPANY 34 6.45% $14,258
QUICKEN LOANS, LLC 15 5.89% $12,357
UNITED WHOLESALE MORTGAGE, LLC 11 5.98% $15,735
DIRECTORS MORTGAGE, INC. 11 7.25% $16,507
Banner Bank 9 6.35% $10,300
Century Mortgage Company DBA Century Lending Company 4 7.22% $9,521
Ixonia Bank 3 6.42% $15,133
PLANET HOME LENDING, LLC 3 5.62% $13,012
CMG MORTGAGE, INC. 3 6.42% $13,849
SUMMIT FUNDING, INC. 3 6.92% $17,286
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.54% $13,131
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.19% $17,116
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 2 5.88% $14,320
AMERICAN FINANCIAL RESOURCES, INC. 2 6.13% $15,938
Willamette Valley Bank 2 6.75% $13,830
Sierra Pacific Mortgage Company, Inc. 2 6.75% $11,263
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $9,620
Mr. Cooper ( Nationstar Mortgage ) 1 7.25% $18,060
NATIONS DIRECT MORTGAGE, LLC 1 6.99% $13,101
Nations Lending Corporation 1 6.75% $15,565
NETWORK CAPITAL FUNDING CORPORATION 1 6.25% $9,289
PREMIA MORTGAGE, LLC 1 6.13% $12,872
PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.00% $18,191
SUCCESS MORTGAGE PARTNERS, INC. 1 6.50% $12,423
Umpqua Bank 1 7.25% $12,444
U.S. Bank 1 6.50% $19,258
Wells Fargo Bank 1 6.63% $11,398
ZILLOW HOME LOANS, LLC 1 7.13% $11,328
AMERICAN FINANCING CORPORATION 1 6.25% $14,765
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $10,417
BROKER SOLUTIONS, INC. 1 6.25% $16,316
CALIBER HOME LOANS, INC. 1 7.13% $6,359
Carrington Mortgage Services, LLC 1 6.63% $17,529
CROSSCOUNTRY MORTGAGE, LLC 1 6.99% $20,952
EMBRACE HOME LOANS, INC. 1 5.63% $13,897
GoPrime Mortgage, Inc. 1 6.25% $11,033
HOMESIDE FINANCIAL, LLC 1 7.25% $15,052
HomeStreet Bank 1 5.63% $11,412
LADERA LENDING, INC. 1 6.63% $12,345
LIBERTY HOME MORTGAGE CORPORATION 1 7.38% $14,686
LOANDEPOT.COM, LLC 1 6.75% $13,239
Loan Simple, Inc. 1 6.13% $18,777
MID AMERICA MORTGAGE, INC. 1 7.00% $5,637

The top Coos Bay FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 34 FHA loans originated. Their average total fees are $14,258, which is $1,901 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Coos Bay FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($12,357), GUILD MORTGAGE COMPANY ($14,258), UNITED WHOLESALE MORTGAGE, LLC ($15,735), DIRECTORS MORTGAGE, INC. ($16,507) and .

The lowest rate Coos Bay FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.89%), UNITED WHOLESALE MORTGAGE, LLC (5.98%), GUILD MORTGAGE COMPANY (6.45%), DIRECTORS MORTGAGE, INC. (7.25%) and .

Coos Bay FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Coos Bay (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 $264,500 (2.1%) $375,288 (10.6%) 0.00 255
2018-02-01 $255,000 (6.7%) $358,366 (8.1%) 0.00 264
2018-03-01 $260,000 (-4.0%) $368,325 (8.9%) 0.00 264
2018-04-01 $289,950 (3.9%) $384,347 (8.0%) 0.00 256
2018-05-01 $294,450 (-1.3%) $387,459 (7.3%) 0.00 263
2018-06-01 $275,000 (-7.9%) $368,719 (-1.0%) 0.00 317
2018-07-01 $271,175 (-7.3%) $365,216 (-3.9%) 0.00 355
2018-08-01 $271,175 (-3.9%) $363,050 (-2.1%) 0.00 359
2018-09-01 $269,000 (-3.6%) $367,307 (1.2%) 0.00 348
2018-10-01 $265,000 (-7.6%) $362,427 (-2.1%) 0.00 327
2018-11-01 $265,000 (-1.8%) $364,341 (-0.2%) 0.00 278
2018-12-01 $264,450 (-2.1%) $367,105 (-4.7%) 0.00 250
2019-01-01 $257,500 (-2.7%) $362,876 (-3.3%) 0.00 232
2019-02-01 $282,000 (10.6%) $373,025 (4.1%) 0.00 227
2019-03-01 $289,429 (11.3%) $372,398 (1.1%) 0.00 230
2019-04-01 $290,000 (0.0%) $372,253 (-3.2%) 0.00 238
2019-05-01 $289,250 (-1.8%) $373,320 (-3.7%) 0.00 250
2019-06-01 $289,000 (5.1%) $368,781 (0.0%) 0.00 302
2019-07-01 $289,500 (6.8%) $374,932 (2.7%) 0.00 308
2019-08-01 $311,909 (15.0%) $394,362 (8.6%) 0.00 309
2019-09-01 $315,898 (17.4%) $398,091 (8.4%) 0.00 307
2019-10-01 $318,557 (20.2%) $395,002 (9.0%) 0.00 296
2019-11-01 $319,900 (20.7%) $457,244 (25.5%) 0.00 274
2019-12-01 $319,700 (20.9%) $465,215 (26.7%) 0.00 240
2020-01-01 $322,500 (25.2%) $466,809 (28.6%) 0.00 226
2020-02-01 $319,500 (13.3%) $470,264 (26.1%) 0.00 217
2020-03-01 $318,000 (9.9%) $442,137 (18.7%) 0.00 228
2020-04-01 $303,500 (4.7%) $435,211 (16.9%) 0.00 236
2020-05-01 $319,000 (10.3%) $438,195 (17.4%) 0.00 221
2020-06-01 $345,000 (19.4%) $477,679 (29.5%) 0.00 184
2020-07-01 $331,375 (14.5%) $477,557 (27.4%) 0.00 173
2020-08-01 $339,999 (9.0%) $505,139 (28.1%) 0.00 150
2020-09-01 $348,750 (10.4%) $550,977 (38.4%) 0.00 137
2020-10-01 $350,000 (9.9%) $561,383 (42.1%) 0.00 125
2020-11-01 $351,250 (9.8%) $468,696 (2.5%) 0.00 126
2020-12-01 $294,250 (-8.0%) $440,909 (-5.2%) 0.00 109
2021-01-01 $317,500 (-1.6%) $450,861 (-3.4%) 0.00 90
2021-02-01 $267,250 (-16.4%) $430,722 (-8.4%) 0.00 77
2021-03-01 $334,500 (5.2%) $446,676 (1.0%) 0.00 85
2021-04-01 $349,000 (15.0%) $454,435 (4.4%) 0.00 88
2021-05-01 $325,000 (1.9%) $464,875 (6.1%) 0.00 104
2021-06-01 $337,250 (-2.3%) $445,806 (-6.7%) 0.00 125
2021-07-01 $350,000 (5.6%) $460,968 (-3.5%) 0.00 146
2021-08-01 $362,500 (6.6%) $509,644 (0.9%) 0.00 159
2021-09-01 $366,250 (5.0%) $543,487 (-1.4%) 0.00 147
2021-10-01 $359,000 (2.6%) $556,166 (-0.9%) 0.00 132
2021-11-01 $372,450 (6.0%) $600,994 (28.2%) 0.00 121
2021-12-01 $363,500 (23.5%) $586,723 (33.1%) 0.00 99
2022-01-01 $399,000 (25.7%) $609,232 (35.1%) 0.00 79
2022-02-01 $388,250 (45.3%) $643,819 (49.5%) 0.00 73
2022-03-01 $432,500 (29.3%) $645,280 (44.5%) 0.00 80
2022-04-01 $412,500 (18.2%) $607,704 (33.7%) 0.00 96
2022-05-01 $399,725 (23.0%) $575,052 (23.7%) 0.00 106
2022-06-01 $416,894 (23.6%) $562,049 (26.1%) 0.00 135
2022-07-01 $409,000 (16.9%) $539,950 (17.1%) 0.00 162
2022-08-01 $431,200 (19.0%) $552,077 (8.3%) 0.00 179
2022-09-01 $423,000 (15.5%) $559,928 (3.0%) 0.00 176
2022-10-01 $429,000 (19.5%) $568,395 (2.2%) 0.00 175
2022-11-01 $428,500 (15.1%) $564,280 (-6.1%) 0.00 177
2022-12-01 $425,000 (16.9%) $585,800 (-0.2%) 0.00 154
2023-01-01 $442,250 (10.8%) $606,695 (-0.4%) 0.00 152
2023-02-01 $448,250 (15.5%) $583,878 (-9.3%) 0.00 145
2023-03-01 $440,250 (1.8%) $579,355 (-10.2%) 0.00 135
2023-04-01 $439,000 (6.4%) $563,718 (-7.2%) 0.00 147
2023-05-01 $427,500 (7.0%) $553,686 (-3.7%) 0.00 170
2023-06-01 $454,500 (9.0%) $580,119 (3.2%) 0.00 190
2023-07-01 $449,000 (9.8%) $574,647 (6.4%) 0.00 235
2023-08-01 $449,700 (4.3%) $594,908 (7.8%) 0.00 242
2023-09-01 $435,000 (2.8%) $584,560 (4.4%) 0.00 228
2023-10-01 $439,000 (2.3%) $604,660 (6.4%) 0.00 222
2023-11-01 $426,000 (-0.6%) $600,918 (6.5%) 0.00 225
2023-12-01 $429,000 (0.9%) $601,317 (2.7%) 0.00 210
2024-01-01 $448,500 (1.4%) $626,727 (3.3%) 0.00 188
2024-02-01 $425,000 (-5.2%) $600,212 (2.8%) 0.00 181
2024-03-01 $399,000 (-9.4%) $593,550 (2.5%) 0.00 173
2024-04-01 $423,250 (-3.6%) $579,781 (2.9%) 0.00 207
2024-05-01 $420,000 (-1.8%) $575,033 (3.9%) 0.00 233
2024-06-01 $439,000 (-3.4%) $622,405 (7.3%) 0.00 268
2024-07-01 $449,000 (0.0%) $622,826 (8.4%) 0.00 297
2024-08-01 $439,000 (-2.4%) $606,561 (2.0%) 0.00 284
2024-09-01 $438,000 (0.7%) $608,303 (4.1%) 0.00 275
Coos Bay's median listing price for 2024-09-01 was $438,000, a difference of $3,000 (0.7%) versus the prior year and $-1,000 versus the prior month.

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

Coos Bay's average listing price for 2024-09-01 was $608,303, a difference of $23,743 (4.1%) versus the prior year and $1,742 versus the prior month.

For the 2024-09-01 period, Coos Bay had 275 MLS listings, a difference of -9 listings (-3%) versus the prior month and 47 listings (21%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Coos Bay (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,730 sqft
2018-02-01 0 days 1,744 sqft
2018-03-01 0 days 1,787 sqft
2018-04-01 0 days 1,841 sqft
2018-05-01 0 days 1,800 sqft
2018-06-01 0 days 1,781 sqft
2018-07-01 0 days 1,755 sqft
2018-08-01 0 days 1,738 sqft
2018-09-01 0 days 1,773 sqft
2018-10-01 0 days 1,780 sqft
2018-11-01 0 days 1,774 sqft
2018-12-01 0 days 1,736 sqft
2019-01-01 0 days 1,729 sqft
2019-02-01 0 days 1,751 sqft
2019-03-01 0 days 1,743 sqft
2019-04-01 0 days 1,725 sqft
2019-05-01 0 days 1,736 sqft
2019-06-01 0 days 1,728 sqft
2019-07-01 0 days 1,765 sqft
2019-08-01 0 days 1,805 sqft
2019-09-01 0 days 1,814 sqft
2019-10-01 0 days 1,825 sqft
2019-11-01 0 days 1,845 sqft
2019-12-01 0 days 1,836 sqft
2020-01-01 0 days 1,798 sqft
2020-02-01 0 days 1,882 sqft
2020-03-01 0 days 1,844 sqft
2020-04-01 0 days 1,826 sqft
2020-05-01 0 days 1,860 sqft
2020-06-01 0 days 1,877 sqft
2020-07-01 0 days 1,869 sqft
2020-08-01 0 days 1,873 sqft
2020-09-01 0 days 1,860 sqft
2020-10-01 0 days 1,838 sqft
2020-11-01 0 days 1,693 sqft
2020-12-01 0 days 1,508 sqft
2021-01-01 0 days 1,680 sqft
2021-02-01 0 days 1,646 sqft
2021-03-01 0 days 1,698 sqft
2021-04-01 0 days 1,634 sqft
2021-05-01 0 days 1,582 sqft
2021-06-01 0 days 1,650 sqft
2021-07-01 0 days 1,759 sqft
2021-08-01 0 days 1,795 sqft
2021-09-01 0 days 1,780 sqft
2021-10-01 0 days 1,693 sqft
2021-11-01 0 days 1,686 sqft
2021-12-01 0 days 1,701 sqft
2022-01-01 0 days 1,708 sqft
2022-02-01 0 days 1,583 sqft
2022-03-01 0 days 1,728 sqft
2022-04-01 0 days 1,786 sqft
2022-05-01 0 days 1,752 sqft
2022-06-01 0 days 1,654 sqft
2022-07-01 0 days 1,616 sqft
2022-08-01 0 days 1,683 sqft
2022-09-01 0 days 1,693 sqft
2022-10-01 0 days 1,825 sqft
2022-11-01 0 days 1,746 sqft
2022-12-01 0 days 1,823 sqft
2023-01-01 0 days 1,784 sqft
2023-02-01 0 days 1,782 sqft
2023-03-01 0 days 1,762 sqft
2023-04-01 0 days 1,756 sqft
2023-05-01 0 days 1,802 sqft
2023-06-01 0 days 1,831 sqft
2023-07-01 0 days 1,798 sqft
2023-08-01 0 days 1,820 sqft
2023-09-01 0 days 1,763 sqft
2023-10-01 0 days 1,722 sqft
2023-11-01 0 days 1,742 sqft
2023-12-01 0 days 1,760 sqft
2024-01-01 0 days 1,808 sqft
2024-02-01 0 days 1,761 sqft
2024-03-01 0 days 1,660 sqft
2024-04-01 0 days 1,665 sqft
2024-05-01 0 days 1,680 sqft
2024-06-01 0 days 1,680 sqft
2024-07-01 0 days 1,665 sqft
2024-08-01 0 days 1,686 sqft
2024-09-01 0 days 1,725 sqft
Coos Bay's median listing age (time on market) for 2024-09-01 was 0 days.

Coos Bay's median square footage for active listings during the 2024-09-01 period was 1,725 sqft. One year prior, the average listing was 1,763 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).