Coos Bay FHA Loan Rates, Closing Costs & Stats

Coos Bay, OR

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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.

    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 6.43% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.4% and one month ago for the week of 2024-11-08, the average rate was 6.67%.

    The average rate one year ago was 6.88%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.38%.

    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
    2024-10-01 $442,000 (0.7%) $623,968 (3.2%) 0.00 270
    2024-11-01 $439,000 (3.1%) $653,112 (8.7%) 0.00 245
    Coos Bay's median listing price for 2024-11-01 was $439,000, a difference of $13,000 (3.1%) versus the prior year and $-3,000 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 2024-11-01 was $653,112, a difference of $52,194 (8.7%) versus the prior year and $29,144 versus the prior month.

    For the 2024-11-01 period, Coos Bay had 245 MLS listings, a difference of -25 listings (-9%) versus the prior month and 20 listings (9%) 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
    2024-10-01 0 days 1,770 sqft
    2024-11-01 0 days 1,839 sqft
    Coos Bay's median listing age (time on market) for 2024-11-01 was 0 days.

    Coos Bay's median square footage for active listings during the 2024-11-01 period was 1,839 sqft. One year prior, the average listing was 1,742 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).