Eugene FHA Loans
EUGENE-SPRINGFIELD, 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.
Eugene's 98 lenders originated 1,251 FHA loans during 2021. The total origination value was $344,075,000, with an average FHA loan value of $275,040.
Eugene FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Eugene
averaged
5.38%
for the week of 2022-05-20, compared to the national average (all FHA variants) of
5.352% for the same period.
The average rate for the prior week (2022-05-13) was
5.49% and
one month ago for the week of 2022-04-15, the
average rate was 5.08%.
The average rate one year ago was 3.15%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.08%.
Eugene 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 Eugene level.
The top Eugene FHA lender as defined by loan originations is SUMMIT FUNDING, INC., with
145 FHA loans originated. Their average total fees are
$11,688, which is $4,056
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Eugene FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($3,921), LAKEVIEW LOAN SERVICING, LLC ($5,408), Mr. Cooper ( Nationstar Mortgage ) ($5,958), PENNYMAC LOAN SERVICES, LLC ($6,152) and FREEDOM MORTGAGE CORPORATION ($6,706).
The lowest rate Eugene FHA lenders (with over 10 loans originated) are
CMG MORTGAGE, INC. (2.50%), UNITED WHOLESALE MORTGAGE, LLC (2.59%), QUICKEN LOANS, LLC (2.65%), VILLAGE CAPITAL & INVESTMENT LLC (2.69%) and CALIBER HOME LOANS, INC. (2.71%).
Eugene FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
EUGENE-SPRINGFIELD, OR | LANE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Eugene (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $349,445 (7.5%) | $424,936 (1.2%) | 1.29 | 680 |
2018-02-01 | $375,000 (8.9%) | $463,401 (6.1%) | 1.35 | 615 |
2018-03-01 | $399,000 (14.3%) | $475,112 (8.8%) | 1.38 | 619 |
2018-04-01 | $404,950 (15.7%) | $489,632 (10.9%) | 1.36 | 681 |
2018-05-01 | $414,450 (12.2%) | $497,757 (2.5%) | 1.38 | 732 |
2018-06-01 | $388,000 (7.8%) | $476,565 (1.9%) | 1.29 | 914 |
2018-07-01 | $389,900 (11.4%) | $480,887 (11.2%) | 1.30 | 939 |
2018-08-01 | $374,950 (8.2%) | $472,021 (12.5%) | 1.25 | 1,059 |
2018-09-01 | $370,000 (10.5%) | $469,972 (14.6%) | 1.24 | 1,039 |
2018-10-01 | $369,900 (8.8%) | $467,403 (12.2%) | 1.24 | 973 |
2018-11-01 | $365,000 (4.3%) | $463,339 (7.2%) | 1.22 | 930 |
2018-12-01 | $369,000 (8.5%) | $474,419 (9.2%) | 1.26 | 799 |
2019-01-01 | $369,500 (5.7%) | $477,000 (12.3%) | 1.27 | 667 |
2019-02-01 | $384,500 (2.5%) | $483,158 (4.3%) | 1.29 | 635 |
2019-03-01 | $390,814 (-2.1%) | $473,404 (-0.4%) | 1.27 | 612 |
2019-04-01 | $379,450 (-6.3%) | $451,332 (-7.8%) | 1.19 | 628 |
2019-05-01 | $381,750 (-7.9%) | $454,036 (-8.8%) | 1.18 | 703 |
2019-06-01 | $382,240 (-1.5%) | $458,878 (-3.7%) | 1.18 | 799 |
2019-07-01 | $399,000 (2.3%) | $473,349 (-1.6%) | 1.24 | 807 |
2019-08-01 | $388,571 (3.6%) | $465,475 (-1.4%) | 1.22 | 818 |
2019-09-01 | $383,521 (3.7%) | $460,334 (-2.1%) | 1.22 | 833 |
2019-10-01 | $389,900 (5.4%) | $464,180 (-0.7%) | 1.24 | 795 |
2019-11-01 | $405,000 (11.0%) | $483,139 (4.3%) | 1.31 | 672 |
2019-12-01 | $401,000 (8.7%) | $482,072 (1.6%) | 1.34 | 534 |
2020-01-01 | $400,000 (8.3%) | $476,097 (-0.2%) | 1.33 | 489 |
2020-02-01 | $400,000 (4.0%) | $473,072 (-2.1%) | 1.29 | 463 |
2020-03-01 | $415,500 (6.3%) | $485,993 (2.7%) | 1.30 | 514 |
2020-04-01 | $403,500 (6.3%) | $475,470 (5.4%) | 1.26 | 654 |
2020-05-01 | $425,000 (11.3%) | $490,922 (8.1%) | 1.29 | 638 |
2020-06-01 | $450,000 (17.7%) | $508,896 (10.9%) | 1.31 | 588 |
2020-07-01 | $427,250 (7.1%) | $496,063 (4.8%) | 1.22 | 519 |
2020-08-01 | $434,900 (11.9%) | $510,500 (9.7%) | 1.24 | 485 |
2020-09-01 | $447,250 (16.6%) | $527,604 (14.6%) | 1.28 | 479 |
2020-10-01 | $449,900 (15.4%) | $535,874 (15.5%) | 1.29 | 459 |
2020-11-01 | $439,500 (8.5%) | $544,685 (12.7%) | 1.26 | 377 |
2020-12-01 | $437,500 (9.1%) | $556,610 (15.5%) | 1.28 | 325 |
2021-01-01 | $425,000 (6.3%) | $548,618 (15.2%) | 1.25 | 264 |
2021-02-01 | $420,000 (5.0%) | $534,757 (13.0%) | 1.21 | 252 |
2021-03-01 | $435,000 (4.7%) | $551,165 (13.4%) | 1.22 | 247 |
2021-04-01 | $438,250 (8.6%) | $565,174 (18.9%) | 1.18 | 259 |
2021-05-01 | $450,000 (5.9%) | $576,824 (17.5%) | 1.18 | 312 |
2021-06-01 | $451,500 (0.3%) | $602,848 (18.5%) | 1.17 | 350 |
2021-07-01 | $449,450 (5.2%) | $589,338 (18.8%) | 1.17 | 396 |
2021-08-01 | $462,400 (6.3%) | $611,028 (19.7%) | 1.22 | 453 |
2021-09-01 | $456,495 (2.1%) | $623,479 (18.2%) | 1.20 | 426 |
2021-10-01 | $457,500 (1.7%) | $625,351 (16.7%) | 1.20 | 404 |
2021-11-01 | $468,750 (6.7%) | $650,297 (19.4%) | 1.24 | 344 |
2021-12-01 | $465,000 (6.3%) | $638,867 (14.8%) | 1.24 | 272 |
2022-01-01 | $459,900 (8.2%) | $645,150 (17.6%) | 1.23 | 233 |
2022-02-01 | $474,950 (13.1%) | $664,883 (24.3%) | 1.21 | 234 |
2022-03-01 | $467,500 (7.5%) | $617,916 (12.1%) | 1.15 | 242 |
2022-04-01 | $489,900 (11.8%) | $623,898 (10.4%) | 1.15 | 261 |
Eugene's median listing price comes in at 115% of the national average.
Eugene's average listing price for 2022-04-01 was $623,898, a difference of $58,724 (10.4%) versus the prior year and $5,982 versus the prior month.
For the 2022-04-01 period, Eugene had 261 MLS listings, a difference of 19 listings (8%) versus the prior month and 2 listings (1%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Eugene (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 81 days | 1,933 sqft |
2018-02-01 | 66 days | 1,983 sqft |
2018-03-01 | 49 days | 2,009 sqft |
2018-04-01 | 44 days | 2,049 sqft |
2018-05-01 | 39 days | 2,063 sqft |
2018-06-01 | 36 days | 1,951 sqft |
2018-07-01 | 41 days | 1,948 sqft |
2018-08-01 | 42 days | 1,928 sqft |
2018-09-01 | 49 days | 1,912 sqft |
2018-10-01 | 59 days | 1,908 sqft |
2018-11-01 | 58 days | 1,857 sqft |
2018-12-01 | 62 days | 1,856 sqft |
2019-01-01 | 72 days | 1,844 sqft |
2019-02-01 | 67 days | 1,896 sqft |
2019-03-01 | 52 days | 1,879 sqft |
2019-04-01 | 41 days | 1,836 sqft |
2019-05-01 | 29 days | 1,857 sqft |
2019-06-01 | 34 days | 1,872 sqft |
2019-07-01 | 39 days | 1,953 sqft |
2019-08-01 | 39 days | 1,929 sqft |
2019-09-01 | 43 days | 1,921 sqft |
2019-10-01 | 51 days | 1,938 sqft |
2019-11-01 | 63 days | 1,992 sqft |
2019-12-01 | 73 days | 1,957 sqft |
2020-01-01 | 75 days | 1,950 sqft |
2020-02-01 | 53 days | 1,960 sqft |
2020-03-01 | 41 days | 1,946 sqft |
2020-04-01 | 38 days | 1,906 sqft |
2020-05-01 | 56 days | 1,947 sqft |
2020-06-01 | 53 days | 2,023 sqft |
2020-07-01 | 51 days | 1,946 sqft |
2020-08-01 | 44 days | 1,948 sqft |
2020-09-01 | 35 days | 1,908 sqft |
2020-10-01 | 37 days | 1,844 sqft |
2020-11-01 | 55 days | 1,739 sqft |
2020-12-01 | 70 days | 1,718 sqft |
2021-01-01 | 70 days | 1,639 sqft |
2021-02-01 | 50 days | 1,590 sqft |
2021-03-01 | 42 days | 1,619 sqft |
2021-04-01 | 39 days | 1,633 sqft |
2021-05-01 | 30 days | 1,663 sqft |
2021-06-01 | 31 days | 1,741 sqft |
2021-07-01 | 34 days | 1,736 sqft |
2021-08-01 | 34 days | 1,708 sqft |
2021-09-01 | 38 days | 1,782 sqft |
2021-10-01 | 42 days | 1,736 sqft |
2021-11-01 | 46 days | 1,748 sqft |
2021-12-01 | 49 days | 1,649 sqft |
2022-01-01 | 56 days | 1,653 sqft |
2022-02-01 | 34 days | 1,724 sqft |
2022-03-01 | 32 days | 1,662 sqft |
2022-04-01 | 30 days | 1,701 sqft |
Eugene's median square footage for active listings during the 2022-04-01 period was 1,701 sqft. One year prior, the average listing was 1,633 sqft.