Crescent City FHA Loan Rates, Closing Costs & Stats

Crescent City, CA

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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.

    Crescent City's 24 lenders originated 50 FHA loans during 2023. The total origination value was $14,680,000, with an average FHA loan value of $293,600.

    Crescent City FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Crescent City averaged 6.99% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

    Crescent City's average FHA mortgage closing costs are $9,325.

    The average rate for the prior week (2024-04-05) was 6.62% and one month ago for the week of 2024-03-08, the average rate was 6.85%.

    The average rate one year ago was 6.49%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.74%.

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

    Crescent City 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 Crescent City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 6 6.32% $17,346
    ACADEMY MORTGAGE CORPORATION 6 6.50% $14,218
    MASON MCDUFFIE MORTGAGE CORPORATION 3 6.83% $16,615
    Century Mortgage Company DBA Century Lending Company 3 7.33% $12,229
    QUICKEN LOANS, LLC 3 6.41% $13,172
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $12,022
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.88% $15,215
    Franklin Loan Corporation 1 5.38% $16,084
    FREEDOM MORTGAGE CORPORATION 1 7.25% $8,481
    GUILD MORTGAGE COMPANY 1 3.25% $900
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.75% $10,340
    LOANDEPOT.COM, LLC 1 6.99% $10,732
    EMM LOANS LLC 1 5.38% $13,295
    MID AMERICA MORTGAGE, INC. 1 6.75% $4,631
    M&T Bank 1 7.13% $10,132
    OCMBC, INC. 1 6.13% $23,907
    Paramount Residential Mortgage Group, Inc. 1 6.75% $15,886
    PENNYMAC LOAN SERVICES, LLC 1 5.75% $11,434
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.63% $15,144
    VERITAS FUNDING, LLC 1 7.25% $20,613
    RANLIFE, INC. 1 6.00% $16,211
    TOP FLITE FINANCIAL, INC. 1 6.75% $18,649
    CMG MORTGAGE, INC. 1 7.25% $12,285
    Equity Prime Mortgage LLC 1 7.50% $9,203

    The top Crescent City FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 6 FHA loans originated. Their average total fees are $17,346, which is $3,128 higher than the next largest lender, ACADEMY MORTGAGE CORPORATION.

    The lowest fee Crescent City FHA lenders (with over 10 loans originated) are .

    The lowest rate Crescent City FHA lenders (with over 10 loans originated) are .

    Crescent City FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CRESCENT CITY, CA DEL NORTE 2022 $420,680 $538,650 $651,050 $809,150
    CRESCENT CITY, CA DEL NORTE 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Crescent City (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 $289,000 (6.1%) $325,733 (-5.3%) 0.00 116
    2018-02-01 $287,375 (3.0%) $329,301 (-4.0%) 0.00 102
    2018-03-01 $299,500 (8.9%) $338,333 (1.7%) 0.00 101
    2018-04-01 $297,000 (9.0%) $330,799 (-2.4%) 0.00 107
    2018-05-01 $317,125 (13.7%) $360,822 (5.7%) 0.00 125
    2018-06-01 $315,000 (6.4%) $385,132 (8.1%) 0.00 109
    2018-07-01 $299,000 (-8.8%) $380,856 (2.6%) 0.00 114
    2018-08-01 $285,000 (-11.6%) $365,400 (3.4%) 0.00 109
    2018-09-01 $315,000 (7.9%) $378,960 (10.6%) 0.00 104
    2018-10-01 $298,500 (3.3%) $379,939 (10.9%) 0.00 99
    2018-11-01 $304,750 (7.0%) $390,729 (18.5%) 0.00 95
    2018-12-01 $347,000 (21.4%) $416,465 (30.6%) 0.00 93
    2019-01-01 $355,000 (22.8%) $417,285 (28.1%) 0.00 101
    2019-02-01 $355,000 (23.5%) $438,539 (33.2%) 0.00 107
    2019-03-01 $366,429 (22.4%) $464,580 (37.3%) 0.00 100
    2019-04-01 $379,000 (27.6%) $482,761 (45.9%) 0.00 93
    2019-05-01 $370,500 (16.8%) $471,644 (30.7%) 0.00 100
    2019-06-01 $361,500 (14.8%) $471,379 (22.4%) 0.00 102
    2019-07-01 $370,750 (24.0%) $488,325 (28.2%) 0.00 115
    2019-08-01 $360,623 (26.5%) $475,142 (30.0%) 0.00 126
    2019-09-01 $351,807 (11.7%) $462,072 (21.9%) 0.00 135
    2019-10-01 $345,930 (15.9%) $448,265 (18.0%) 0.00 142
    2019-11-01 $350,000 (14.9%) $447,067 (14.4%) 0.00 122
    2019-12-01 $382,750 (10.3%) $457,687 (9.9%) 0.00 123
    2020-01-01 $389,000 (9.6%) $487,007 (16.7%) 0.00 106
    2020-02-01 $385,000 (8.5%) $495,862 (13.1%) 0.00 104
    2020-03-01 $378,375 (3.3%) $467,517 (0.6%) 0.00 119
    2020-04-01 $382,500 (0.9%) $474,606 (-1.7%) 0.00 112
    2020-05-01 $389,000 (5.0%) $480,161 (1.8%) 0.00 108
    2020-06-01 $393,725 (8.9%) $507,767 (7.7%) 0.00 103
    2020-07-01 $375,000 (1.2%) $454,645 (-6.9%) 0.00 142
    2020-08-01 $375,000 (4.0%) $453,988 (-4.5%) 0.00 145
    2020-09-01 $381,663 (8.5%) $451,755 (-2.2%) 0.00 129
    2020-10-01 $394,000 (13.9%) $475,536 (6.1%) 0.00 111
    2020-11-01 $389,000 (11.1%) $579,775 (29.7%) 0.00 110
    2020-12-01 $389,000 (1.6%) $603,147 (31.8%) 0.00 97
    2021-01-01 $387,413 (-0.4%) $614,168 (26.1%) 0.00 75
    2021-02-01 $361,250 (-6.2%) $638,472 (28.8%) 0.00 74
    2021-03-01 $367,250 (-2.9%) $640,719 (37.1%) 0.00 73
    2021-04-01 $375,000 (-2.0%) $639,485 (34.7%) 0.00 71
    2021-05-01 $395,900 (1.8%) $502,365 (4.6%) 0.00 68
    2021-06-01 $399,250 (1.4%) $519,927 (2.4%) 0.00 84
    2021-07-01 $399,000 (6.4%) $529,480 (16.5%) 0.00 86
    2021-08-01 $425,000 (13.3%) $521,460 (14.9%) 0.00 104
    2021-09-01 $403,175 (5.6%) $513,910 (13.8%) 0.00 102
    2021-10-01 $395,450 (0.4%) $515,403 (8.4%) 0.00 100
    2021-11-01 $399,000 (2.6%) $510,674 (-11.9%) 0.00 86
    2021-12-01 $411,500 (5.8%) $536,651 (-11.0%) 0.00 74
    2022-01-01 $411,500 (6.2%) $509,179 (-17.1%) 0.00 70
    2022-02-01 $422,475 (17.0%) $541,231 (-15.2%) 0.00 69
    2022-03-01 $415,625 (13.2%) $517,452 (-19.2%) 0.00 78
    2022-04-01 $410,000 (9.3%) $502,143 (-21.5%) 0.00 77
    2022-05-01 $449,750 (13.6%) $522,386 (4.0%) 0.00 79
    2022-06-01 $454,500 (13.8%) $534,914 (2.9%) 0.00 87
    2022-07-01 $449,500 (12.7%) $536,266 (1.3%) 0.00 97
    2022-08-01 $456,950 (7.5%) $553,172 (6.1%) 0.00 86
    2022-09-01 $449,225 (11.4%) $546,743 (6.4%) 0.00 73
    2022-10-01 $437,000 (10.5%) $552,114 (7.1%) 0.00 70
    2022-11-01 $401,450 (0.6%) $523,568 (2.5%) 0.00 65
    2022-12-01 $427,500 (3.9%) $540,027 (0.6%) 0.00 63
    2023-01-01 $416,475 (1.2%) $542,889 (6.6%) 0.00 68
    2023-02-01 $423,250 (0.2%) $541,974 (0.1%) 0.00 67
    2023-03-01 $457,725 (10.1%) $587,677 (13.6%) 0.00 70
    2023-04-01 $435,750 (6.3%) $559,658 (11.5%) 0.00 82
    2023-05-01 $447,450 (-0.5%) $585,877 (12.2%) 0.00 78
    2023-06-01 $476,200 (4.8%) $589,124 (10.1%) 0.00 80
    2023-07-01 $444,500 (-1.1%) $591,979 (10.4%) 0.00 86
    2023-08-01 $439,500 (-3.8%) $605,387 (9.4%) 0.00 85
    2023-09-01 $449,000 (-0.1%) $606,565 (10.9%) 0.00 86
    2023-10-01 $458,500 (4.9%) $613,036 (11.0%) 0.00 88
    2023-11-01 $466,000 (16.1%) $603,389 (15.3%) 0.00 88
    2023-12-01 $449,000 (5.0%) $589,671 (9.2%) 0.00 87
    2024-01-01 $475,750 (14.2%) $576,258 (6.2%) 0.00 87
    2024-02-01 $484,250 (14.4%) $564,123 (4.1%) 0.00 79
    2024-03-01 $489,900 (7.0%) $611,533 (4.1%) 0.00 80
    Crescent City's median listing price for 2024-03-01 was $489,900, a difference of $32,175 (7.0%) versus the prior year and $5,650 versus the prior month.

    Crescent City's median listing price comes in at 0% of the national average.

    Crescent City's average listing price for 2024-03-01 was $611,533, a difference of $23,856 (4.1%) versus the prior year and $47,410 versus the prior month.

    For the 2024-03-01 period, Crescent City had 80 MLS listings, a difference of 1 listings (1%) versus the prior month and 10 listings (14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Crescent City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,733 sqft
    2018-02-01 0 days 1,756 sqft
    2018-03-01 0 days 1,844 sqft
    2018-04-01 0 days 1,842 sqft
    2018-05-01 0 days 1,849 sqft
    2018-06-01 0 days 1,878 sqft
    2018-07-01 0 days 1,801 sqft
    2018-08-01 0 days 1,715 sqft
    2018-09-01 0 days 1,698 sqft
    2018-10-01 0 days 1,560 sqft
    2018-11-01 0 days 1,560 sqft
    2018-12-01 0 days 1,580 sqft
    2019-01-01 0 days 1,615 sqft
    2019-02-01 0 days 1,686 sqft
    2019-03-01 0 days 1,826 sqft
    2019-04-01 0 days 1,902 sqft
    2019-05-01 0 days 1,837 sqft
    2019-06-01 0 days 1,822 sqft
    2019-07-01 0 days 1,846 sqft
    2019-08-01 0 days 1,849 sqft
    2019-09-01 0 days 1,820 sqft
    2019-10-01 0 days 1,806 sqft
    2019-11-01 0 days 1,844 sqft
    2019-12-01 0 days 1,854 sqft
    2020-01-01 0 days 1,863 sqft
    2020-02-01 0 days 1,894 sqft
    2020-03-01 0 days 1,874 sqft
    2020-04-01 0 days 1,885 sqft
    2020-05-01 0 days 1,844 sqft
    2020-06-01 0 days 1,901 sqft
    2020-07-01 0 days 1,844 sqft
    2020-08-01 0 days 1,844 sqft
    2020-09-01 0 days 1,852 sqft
    2020-10-01 0 days 1,872 sqft
    2020-11-01 0 days 1,880 sqft
    2020-12-01 0 days 1,866 sqft
    2021-01-01 0 days 1,844 sqft
    2021-02-01 0 days 1,702 sqft
    2021-03-01 0 days 1,707 sqft
    2021-04-01 0 days 1,691 sqft
    2021-05-01 0 days 1,699 sqft
    2021-06-01 0 days 1,725 sqft
    2021-07-01 0 days 1,699 sqft
    2021-08-01 0 days 1,700 sqft
    2021-09-01 0 days 1,653 sqft
    2021-10-01 0 days 1,631 sqft
    2021-11-01 0 days 1,715 sqft
    2021-12-01 0 days 1,733 sqft
    2022-01-01 0 days 1,752 sqft
    2022-02-01 0 days 1,727 sqft
    2022-03-01 0 days 1,718 sqft
    2022-04-01 0 days 1,704 sqft
    2022-05-01 0 days 1,840 sqft
    2022-06-01 0 days 1,844 sqft
    2022-07-01 0 days 1,785 sqft
    2022-08-01 0 days 1,740 sqft
    2022-09-01 0 days 1,732 sqft
    2022-10-01 0 days 1,828 sqft
    2022-11-01 0 days 1,711 sqft
    2022-12-01 0 days 1,782 sqft
    2023-01-01 0 days 1,805 sqft
    2023-02-01 0 days 1,822 sqft
    2023-03-01 0 days 1,827 sqft
    2023-04-01 0 days 1,770 sqft
    2023-05-01 0 days 1,773 sqft
    2023-06-01 0 days 1,757 sqft
    2023-07-01 0 days 1,740 sqft
    2023-08-01 0 days 1,760 sqft
    2023-09-01 0 days 1,779 sqft
    2023-10-01 0 days 1,804 sqft
    2023-11-01 0 days 1,788 sqft
    2023-12-01 0 days 1,764 sqft
    2024-01-01 0 days 1,783 sqft
    2024-02-01 0 days 1,830 sqft
    2024-03-01 0 days 1,844 sqft
    Crescent City's median listing age (time on market) for 2024-03-01 was 0 days.

    Crescent City's median square footage for active listings during the 2024-03-01 period was 1,844 sqft. One year prior, the average listing was 1,827 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).