Fernley FHA Loan Rates, Closing Costs & Stats

Fernley, NV

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.

Fernley's 67 lenders originated 492 FHA loans during 2024. The total origination value was $170,550,000, with an average FHA loan value of $346,646.

Fernley FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Fernley averaged 6.22% for the week of 2025-05-09, compared to the national average (all FHA variants) of 6.477% for the same period.

Fernley's average FHA mortgage closing costs are $10,773.

The average rate for the prior week (2025-05-02) was 6.07% and one month ago for the week of 2025-04-04, the average rate was 6.2%.

The average rate one year ago was 6.82%.

For refis of the same type during the week of 2025-05-09, the average rate was 6.02%.

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

Fernley 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 Fernley level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
GUILD MORTGAGE COMPANY 95 6.62% $16,648
DHI MORTGAGE COMPANY, LTD. 63 5.22% $9,845
UNITED WHOLESALE MORTGAGE, LLC 41 6.12% $15,463
CROSSCOUNTRY MORTGAGE, LLC 33 6.39% $16,267
QUICKEN LOANS, LLC 28 6.23% $13,763
TJC Mortgage, Inc. 12 6.81% $13,857
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 6.56% $15,581
CANOPY MORTGAGE, LLC 11 6.81% $16,133
SUMMIT FUNDING, INC. 10 6.60% $17,097
EAGLE HOME MORTGAGE, LLC 10 4.64% $11,969
ISERVE RESIDENTIAL LENDING, LLC 9 6.61% $14,853
GREATER NEVADA LLC 9 6.56% $12,062
PREMIER MORTGAGE RESOURCES, L.L.C. 8 5.94% $16,204
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 7 6.18% $17,335
Equity Prime Mortgage LLC 6 7.04% $13,738
BROKER SOLUTIONS, INC. 6 6.79% $13,177
CARDINAL FINANCIAL 5 6.20% $18,283
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.34% $11,209
AMERICAN FINANCIAL NETWORK, INC. 4 6.38% $18,525
PENNYMAC LOAN SERVICES, LLC 3 6.21% $16,248
LAKEVIEW LOAN SERVICING, LLC 3 6.92% $7,697
LOANDEPOT.COM, LLC 3 6.49% $14,691
FREEDOM MORTGAGE CORPORATION 3 6.33% $8,745
VILLAGE CAPITAL MORTGAGE 3 6.04% $11,899
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.67% $13,412
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.67% $7,366
FIRST COLONY MORTGAGE CORPORATION 3 6.21% $13,131
AMERISAVE MORTGAGE CORPORATION 3 5.75% $15,347
SECURITYNATIONAL MORTGAGE COMPANY 3 6.58% $10,881
AMERICAN FINANCIAL RESOURCES, INC. 2 7.31% $15,920
AXIA FINANCIAL, LLC 2 7.44% $17,000
The Loan Store, Inc. 2 5.38% $21,687
SNAPFI, INC. 2 6.25% $12,359
UNITED 2 6.88% $8,966
AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.25% $19,470
Gateway First Bank 2 6.75% $16,678
CMG MORTGAGE, INC. 2 6.63% $15,569
GUARANTEED RATE, INC. 2 6.19% $14,769
Plains Commerce Bank 2 6.25% $8,287
BAY-VALLEY MORTGAGE GROUP 2 6.50% $16,316
LOANPAL, LLC 2 4.75% $17,531
MASON MCDUFFIE MORTGAGE CORPORATION 2 6.87% $11,466
CALCON MUTUAL MORTGAGE LLC 2 7.44% $21,858
Cornerstone First Mortgage, Inc 2 6.69% $14,122
Zions Bank 1 6.13% $11,914
American Mortgage & Equity Consultants, Inc. 1 6.99% $10,876
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.25% $15,964
Barrington Bank & Trust Company, N.A. 1 7.25% $6,279
BAY EQUITY LLC 1 7.75% $9,930
Century Mortgage Company DBA Century Lending Company 1 5.75% $11,198
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 5.75% $12,414
Franklin Loan Corporation 1 6.13% $15,661
INFINITY EQUITY GROUP, INC. 1 6.25% $10,918
INTELLILOAN, INC. 1 6.63% $6,626
LAND HOME FINANCIAL SERVICES, INC. 1 6.50% $25,044
MID AMERICA MORTGAGE, INC. 1 6.75% $8,633
Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $16,637
Nations Lending Corporation 1 5.25% $15,358
NEWREZ LLC 1 6.75% $12,705
Pacific Lending LLC 1 5.75% $21,571
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 8.13% $15,552
Paramount Residential Mortgage Group, Inc. 1 7.13% $11,794
Prosperity Home Mortgage, LLC 1 6.13% $17,418
S1L, Inc. 1 5.25% $12,781
SUN WEST MORTGAGE COMPANY, INC. 1 6.00% $13,532
The Federal Savings Bank 1 6.25% $21,781
ZILLOW HOME LOANS, LLC 1 6.63% $12,726

The top Fernley FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 95 FHA loans originated. Their average total fees are $16,648, which is $6,802 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Fernley FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($9,845), EAGLE HOME MORTGAGE, LLC ($11,969), QUICKEN LOANS, LLC ($13,763), TJC Mortgage, Inc. ($13,857) and UNITED WHOLESALE MORTGAGE, LLC ($15,463).

The lowest rate Fernley FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (4.64%), DHI MORTGAGE COMPANY, LTD. (5.22%), UNITED WHOLESALE MORTGAGE, LLC (6.12%), QUICKEN LOANS, LLC (6.23%) and CROSSCOUNTRY MORTGAGE, LLC (6.39%).

Fernley FHA Loan Limits

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

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).