El Centro FHA Loan Rates, Closing Costs & Stats

EL CENTRO, 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.

    El Centro's 51 lenders originated 510 FHA loans during 2024. The total origination value was $174,530,000, with an average FHA loan value of $342,216.

    El Centro FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in El Centro averaged 6.71% for the week of 2025-05-23, compared to the national average (all FHA variants) of 6.612% for the same period.

    El Centro's average FHA mortgage closing costs are $10,741.

    The average rate for the prior week (2025-05-16) was 6.54% and one month ago for the week of 2025-04-18, the average rate was 6.37%.

    The average rate one year ago was 6.74%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.51%.

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

    El Centro 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 El Centro level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 90 6.13% $13,679
    PRIMELENDING, A PLAINSCAPITAL COMPANY 55 6.35% $18,894
    FREEDOM MORTGAGE CORPORATION 26 6.31% $13,250
    Wallick & Volk, Inc. 26 6.22% $16,081
    Equity Prime Mortgage LLC 25 6.19% $13,938
    Sierra Pacific Mortgage Company, Inc. 24 6.27% $17,067
    QUICKEN LOANS, LLC 22 6.07% $15,025
    PENNYMAC LOAN SERVICES, LLC 21 5.96% $12,205
    Paramount Residential Mortgage Group, Inc. 15 6.50% $14,124
    EVERETT FINANCIAL, INC. 12 6.20% $20,754
    OCMBC, INC. 10 6.50% $16,381
    LOANDEPOT.COM, LLC 9 6.18% $14,847
    BROKER SOLUTIONS, INC. 6 6.75% $14,053
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 6.04% $15,570
    Mr. Cooper ( Nationstar Mortgage ) 5 5.98% $13,837
    GUILD MORTGAGE COMPANY 4 6.28% $17,444
    SUN WEST MORTGAGE COMPANY, INC. 3 6.54% $8,893
    Cornerstone First Mortgage, Inc 3 6.50% $9,976
    Golden Empire Mortgage, Inc. 3 6.50% $19,962
    VILLAGE CAPITAL MORTGAGE 3 5.71% $15,010
    Plains Commerce Bank 2 6.25% $16,715
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.63% $12,505
    CARDINAL FINANCIAL 2 6.63% $15,984
    Loan Simple, Inc. 2 6.25% $12,639
    CROSSCOUNTRY MORTGAGE, LLC 2 6.50% $15,634
    POINT Mortgage 2 6.13% $12,168
    ZILLOW HOME LOANS, LLC 1 6.75% $16,324
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.99% $17,520
    Bank of America 1 6.38% $9,761
    BAY-VALLEY MORTGAGE GROUP 1 6.63% $10,811
    Carrington Mortgage Services, LLC 1 5.13% $14,177
    Century Mortgage Company DBA Century Lending Company 1 6.25% $18,212
    COMMUNITY MORTGAGE FUNDING, LLC 1 5.75% $14,835
    First Federal Bank 1 5.88% $11,953
    Flagstar Bank, FSB 1 5.38% $11,317
    Franklin Loan Corporation 1 6.63% $10,633
    GEO-CORP, INC. 1 6.50% $19,140
    Home Mortgage Alliance Corp 1 7.75% $16,329
    HOMESIDE FINANCIAL, LLC 1 5.88% $13,486
    JPMorgan Chase Bank 1 5.75% $16,100
    MLD MORTGAGE INC. 1 5.75% $10,269
    MOUNTAIN WEST FINANCIAL, INC. 1 6.13% $12,941
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.50% $10,053
    NATIONS DIRECT MORTGAGE, LLC 1 5.75% $12,560
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $24,176
    NEWREZ LLC 1 5.75% $20,188
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 6.75% $20,700
    PHH Mortgage Corporation 1 5.63% $15,229
    PLAZA HOME MORTGAGE, INC. 1 7.50% $6,045
    Wells Fargo Bank 1 5.38% $17,201
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $14,358

    The top El Centro FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 90 FHA loans originated. Their average total fees are $13,679, which is $5,215 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

    The lowest fee El Centro FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC ($12,205), FREEDOM MORTGAGE CORPORATION ($13,250), UNITED WHOLESALE MORTGAGE, LLC ($13,679), Equity Prime Mortgage LLC ($13,938) and Paramount Residential Mortgage Group, Inc. ($14,124).

    The lowest rate El Centro FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.96%), QUICKEN LOANS, LLC (6.07%), UNITED WHOLESALE MORTGAGE, LLC (6.13%), Equity Prime Mortgage LLC (6.19%) and EVERETT FINANCIAL, INC. (6.20%).

    El Centro FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - El Centro (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 $238,700 (-4.3%) $249,643 (-0.2%) 0.00 237
    2018-02-01 $239,950 (-2.5%) $248,504 (0.1%) 0.00 243
    2018-03-01 $239,900 (1.5%) $244,073 (-1.7%) 0.00 242
    2018-04-01 $244,950 (0.8%) $249,089 (-0.6%) 0.00 238
    2018-05-01 $241,750 (-4.1%) $245,165 (-5.3%) 0.00 251
    2018-06-01 $240,000 (-4.8%) $244,761 (-4.0%) 0.00 241
    2018-07-01 $240,975 (-5.5%) $246,318 (-3.3%) 0.00 248
    2018-08-01 $247,475 (-3.8%) $251,557 (-1.0%) 0.00 241
    2018-09-01 $256,000 (0.4%) $252,601 (0.5%) 0.00 265
    2018-10-01 $258,160 (2.9%) $251,016 (-0.8%) 0.00 262
    2018-11-01 $249,000 (0.5%) $248,258 (-1.0%) 0.00 260
    2018-12-01 $249,000 (3.8%) $247,185 (-1.7%) 0.00 242
    2019-01-01 $248,000 (3.9%) $244,555 (-2.0%) 0.00 224
    2019-02-01 $241,250 (0.5%) $241,688 (-2.7%) 0.00 232
    2019-03-01 $241,500 (0.7%) $241,708 (-1.0%) 0.00 216
    2019-04-01 $242,000 (-1.2%) $240,689 (-3.4%) 0.00 211
    2019-05-01 $259,933 (7.5%) $255,069 (4.0%) 0.00 198
    2019-06-01 $269,995 (12.5%) $274,995 (12.4%) 0.00 191
    2019-07-01 $261,725 (8.6%) $273,732 (11.1%) 0.00 170
    2019-08-01 $254,704 (2.9%) $272,460 (8.3%) 0.00 168
    2019-09-01 $254,260 (-0.7%) $268,897 (6.5%) 0.00 166
    2019-10-01 $253,964 (-1.6%) $266,521 (6.2%) 0.00 168
    2019-11-01 $259,700 (4.3%) $278,483 (12.2%) 0.00 177
    2019-12-01 $269,700 (8.3%) $284,497 (15.1%) 0.00 178
    2020-01-01 $262,475 (5.8%) $271,866 (11.2%) 0.00 180
    2020-02-01 $254,990 (5.7%) $270,577 (12.0%) 0.00 182
    2020-03-01 $261,400 (8.2%) $274,362 (13.5%) 0.00 164
    2020-04-01 $259,900 (7.4%) $273,257 (13.5%) 0.00 164
    2020-05-01 $255,000 (-1.9%) $268,424 (5.2%) 0.00 141
    2020-06-01 $249,950 (-7.4%) $265,199 (-3.6%) 0.00 132
    2020-07-01 $250,000 (-4.5%) $266,961 (-2.5%) 0.00 115
    2020-08-01 $249,900 (-1.9%) $261,151 (-4.2%) 0.00 112
    2020-09-01 $239,925 (-5.6%) $254,723 (-5.3%) 0.00 112
    2020-10-01 $239,900 (-5.5%) $288,578 (8.3%) 0.00 108
    2020-11-01 $264,723 (1.9%) $304,545 (9.4%) 0.00 112
    2020-12-01 $238,175 (-11.7%) $301,338 (5.9%) 0.00 106
    2021-01-01 $239,900 (-8.6%) $314,771 (15.8%) 0.00 97
    2021-02-01 $234,900 (-7.9%) $322,005 (19.0%) 0.00 70
    2021-03-01 $237,200 (-9.3%) $336,158 (22.5%) 0.00 69
    2021-04-01 $282,500 (8.7%) $351,280 (28.6%) 0.00 75
    2021-05-01 $280,000 (9.8%) $334,692 (24.7%) 0.00 73
    2021-06-01 $292,000 (16.8%) $345,539 (30.3%) 0.00 69
    2021-07-01 $280,000 (12.0%) $336,701 (26.1%) 0.00 85
    2021-08-01 $283,750 (13.6%) $327,634 (25.5%) 0.00 99
    2021-09-01 $276,000 (15.0%) $324,671 (27.5%) 0.00 100
    2021-10-01 $265,000 (10.5%) $320,808 (11.2%) 0.00 91
    2021-11-01 $274,875 (3.8%) $325,575 (6.9%) 0.00 93
    2021-12-01 $297,225 (24.8%) $338,165 (12.2%) 0.00 81
    2022-01-01 $274,850 (14.6%) $300,571 (-4.5%) 0.00 61
    2022-02-01 $289,000 (23.0%) $311,928 (-3.1%) 0.00 67
    2022-03-01 $329,000 (38.7%) $336,029 (0.0%) 0.00 70
    2022-04-01 $329,000 (16.5%) $335,972 (-4.4%) 0.00 79
    2022-05-01 $329,000 (17.5%) $327,937 (-2.0%) 0.00 75
    2022-06-01 $329,000 (12.7%) $334,826 (-3.1%) 0.00 90
    2022-07-01 $359,900 (28.5%) $369,062 (9.6%) 0.00 112
    2022-08-01 $359,900 (26.8%) $371,451 (13.4%) 0.00 144
    2022-09-01 $359,900 (30.4%) $376,257 (15.9%) 0.00 151
    2022-10-01 $350,000 (32.1%) $371,226 (15.7%) 0.00 174
    2022-11-01 $342,975 (24.8%) $353,394 (8.5%) 0.00 192
    2022-12-01 $335,000 (12.7%) $351,511 (4.0%) 0.00 185
    2023-01-01 $344,675 (25.4%) $358,965 (19.4%) 0.00 160
    2023-02-01 $349,000 (20.8%) $361,727 (16.0%) 0.00 127
    2023-03-01 $345,975 (5.2%) $362,487 (7.9%) 0.00 117
    2023-04-01 $354,950 (7.9%) $368,541 (9.7%) 0.00 105
    2023-05-01 $359,900 (9.4%) $375,673 (14.6%) 0.00 104
    2023-06-01 $359,925 (9.4%) $382,376 (14.2%) 0.00 98
    2023-07-01 $359,900 (0.0%) $380,881 (3.2%) 0.00 98
    2023-08-01 $359,970 (0.0%) $368,001 (-0.9%) 0.00 109
    2023-09-01 $359,900 (0.0%) $368,636 (-2.0%) 0.00 108
    2023-10-01 $358,675 (2.5%) $371,120 (0.0%) 0.00 121
    2023-11-01 $348,000 (1.5%) $360,024 (1.9%) 0.00 124
    2023-12-01 $357,450 (6.7%) $368,605 (4.9%) 0.00 112
    2024-01-01 $353,750 (2.6%) $367,351 (2.3%) 0.00 103
    2024-02-01 $359,900 (3.1%) $375,088 (3.7%) 0.00 115
    2024-03-01 $359,900 (4.0%) $374,790 (3.4%) 0.00 99
    2024-04-01 $359,900 (1.4%) $380,262 (3.2%) 0.00 104
    2024-05-01 $359,900 (0.0%) $380,283 (1.2%) 0.00 112
    2024-06-01 $359,900 (0.0%) $382,613 (0.1%) 0.00 104
    2024-07-01 $371,500 (3.2%) $398,280 (4.6%) 0.00 108
    2024-08-01 $385,000 (7.0%) $414,619 (12.7%) 0.00 117
    2024-09-01 $360,975 (0.3%) $397,268 (7.8%) 0.00 127
    2024-10-01 $356,175 (-0.7%) $380,033 (2.4%) 0.00 140
    2024-11-01 $354,900 (2.0%) $382,189 (6.2%) 0.00 145
    2024-12-01 $379,117 (6.1%) $409,040 (11.0%) 0.00 155
    2025-01-01 $383,750 (8.5%) $414,966 (13.0%) 0.00 151
    2025-02-01 $389,950 (8.4%) $496,783 (32.4%) 0.00 163
    2025-03-01 $375,000 (4.2%) $494,130 (31.8%) 0.00 169
    2025-04-01 $375,000 (4.2%) $487,640 (28.2%) 0.00 170
    El Centro's median listing price for 2025-04-01 was $375,000, a difference of $15,100 (4.2%) versus the prior year and $0 versus the prior month.

    El Centro's median listing price comes in at 0% of the national average.

    El Centro's average listing price for 2025-04-01 was $487,640, a difference of $107,378 (28.2%) versus the prior year and $-6,490 versus the prior month.

    For the 2025-04-01 period, El Centro had 170 MLS listings, a difference of 1 listings (1%) versus the prior month and 66 listings (63%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - El Centro (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,706 sqft
    2018-02-01 0 days 1,685 sqft
    2018-03-01 0 days 1,690 sqft
    2018-04-01 0 days 1,712 sqft
    2018-05-01 0 days 1,685 sqft
    2018-06-01 0 days 1,630 sqft
    2018-07-01 0 days 1,618 sqft
    2018-08-01 0 days 1,730 sqft
    2018-09-01 0 days 1,733 sqft
    2018-10-01 0 days 1,703 sqft
    2018-11-01 0 days 1,669 sqft
    2018-12-01 0 days 1,630 sqft
    2019-01-01 0 days 1,647 sqft
    2019-02-01 0 days 1,608 sqft
    2019-03-01 0 days 1,573 sqft
    2019-04-01 0 days 1,597 sqft
    2019-05-01 0 days 1,699 sqft
    2019-06-01 0 days 1,771 sqft
    2019-07-01 0 days 1,705 sqft
    2019-08-01 0 days 1,625 sqft
    2019-09-01 0 days 1,611 sqft
    2019-10-01 0 days 1,600 sqft
    2019-11-01 0 days 1,631 sqft
    2019-12-01 0 days 1,673 sqft
    2020-01-01 0 days 1,607 sqft
    2020-02-01 0 days 1,614 sqft
    2020-03-01 0 days 1,661 sqft
    2020-04-01 0 days 1,615 sqft
    2020-05-01 0 days 1,578 sqft
    2020-06-01 0 days 1,560 sqft
    2020-07-01 0 days 1,576 sqft
    2020-08-01 0 days 1,560 sqft
    2020-09-01 0 days 1,562 sqft
    2020-10-01 0 days 1,560 sqft
    2020-11-01 0 days 1,688 sqft
    2020-12-01 0 days 1,560 sqft
    2021-01-01 0 days 1,569 sqft
    2021-02-01 0 days 1,560 sqft
    2021-03-01 0 days 1,560 sqft
    2021-04-01 0 days 1,693 sqft
    2021-05-01 0 days 1,695 sqft
    2021-06-01 0 days 1,695 sqft
    2021-07-01 0 days 1,695 sqft
    2021-08-01 0 days 1,677 sqft
    2021-09-01 0 days 1,601 sqft
    2021-10-01 0 days 1,600 sqft
    2021-11-01 0 days 1,592 sqft
    2021-12-01 0 days 1,656 sqft
    2022-01-01 0 days 1,556 sqft
    2022-02-01 0 days 1,560 sqft
    2022-03-01 0 days 1,570 sqft
    2022-04-01 0 days 1,596 sqft
    2022-05-01 0 days 1,560 sqft
    2022-06-01 0 days 1,591 sqft
    2022-07-01 0 days 1,690 sqft
    2022-08-01 0 days 1,693 sqft
    2022-09-01 0 days 1,695 sqft
    2022-10-01 0 days 1,671 sqft
    2022-11-01 0 days 1,596 sqft
    2022-12-01 0 days 1,638 sqft
    2023-01-01 0 days 1,646 sqft
    2023-02-01 0 days 1,669 sqft
    2023-03-01 0 days 1,694 sqft
    2023-04-01 0 days 1,695 sqft
    2023-05-01 0 days 1,695 sqft
    2023-06-01 0 days 1,695 sqft
    2023-07-01 0 days 1,695 sqft
    2023-08-01 0 days 1,695 sqft
    2023-09-01 0 days 1,695 sqft
    2023-10-01 0 days 1,632 sqft
    2023-11-01 0 days 1,562 sqft
    2023-12-01 0 days 1,560 sqft
    2024-01-01 0 days 1,555 sqft
    2024-02-01 0 days 1,560 sqft
    2024-03-01 0 days 1,600 sqft
    2024-04-01 0 days 1,598 sqft
    2024-05-01 0 days 1,568 sqft
    2024-06-01 0 days 1,580 sqft
    2024-07-01 0 days 1,628 sqft
    2024-08-01 0 days 1,673 sqft
    2024-09-01 0 days 1,599 sqft
    2024-10-01 0 days 1,548 sqft
    2024-11-01 0 days 1,485 sqft
    2024-12-01 0 days 1,578 sqft
    2025-01-01 0 days 1,573 sqft
    2025-02-01 0 days 1,633 sqft
    2025-03-01 0 days 1,563 sqft
    2025-04-01 0 days 1,595 sqft
    El Centro's median listing age (time on market) for 2025-04-01 was 0 days.

    El Centro's median square footage for active listings during the 2025-04-01 period was 1,595 sqft. One year prior, the average listing was 1,598 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).