Flagstaff FHA Loan Rates, Closing Costs & Stats
FLAGSTAFF, AZ
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.
Flagstaff's 51 lenders originated 209 FHA loans during 2022. The total origination value was $63,745,000, with an average FHA loan value of $305,000.
Flagstaff FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Flagstaff
averaged
-0.15%
for the week of 2023-11-24, compared to the national average (all FHA variants) of
0% for the same period.
Flagstaff's average FHA mortgage closing costs are $8,805.
The average rate for the prior week (2023-11-17) was
7.14% and
one month ago for the week of 2023-10-20, the
average rate was 7.25%.
The average rate one year ago was 6.07%.
For refis of the same type during the week of 2023-11-24, the average rate
was -1.3%.
Flagstaff 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 Flagstaff level.
The top Flagstaff FHA lender as defined by loan originations is LHM FINANCIAL CORPORATION, with
12 FHA loans originated. Their average total fees are
$11,810, which is $600
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Flagstaff FHA lenders (with over 10 loans originated) are
NOVA FINANCIAL & INVESTMENT CORPORATION ($6,512), UNITED WHOLESALE MORTGAGE, LLC ($11,209), LHM FINANCIAL CORPORATION ($11,810), GUILD MORTGAGE COMPANY ($12,297) and .
The lowest rate Flagstaff FHA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (4.77%), LHM FINANCIAL CORPORATION (4.78%), NOVA FINANCIAL & INVESTMENT CORPORATION (5.43%), GUILD MORTGAGE COMPANY (5.50%) and .
Flagstaff FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
FLAGSTAFF, AZ | COCONINO | 2022 | $423,200 | $541,750 | $654,850 | $813,850 |
FLAGSTAFF, AZ | COCONINO | 2023 | $517,500 | $662,500 | $800,800 | $995,200 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Flagstaff (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 | $495,342 (4.7%) | $656,228 (-4.0%) | 0.00 | 510 |
2018-02-01 | $518,000 (9.1%) | $666,948 (-3.6%) | 0.00 | 516 |
2018-03-01 | $499,000 (5.1%) | $685,510 (-0.1%) | 0.00 | 541 |
2018-04-01 | $505,500 (7.7%) | $685,529 (3.9%) | 0.00 | 582 |
2018-05-01 | $499,000 (2.9%) | $664,537 (0.3%) | 0.00 | 627 |
2018-06-01 | $485,000 (5.5%) | $647,319 (0.2%) | 0.00 | 731 |
2018-07-01 | $471,350 (4.8%) | $636,095 (0.2%) | 0.00 | 780 |
2018-08-01 | $456,625 (1.5%) | $623,268 (-1.5%) | 0.00 | 781 |
2018-09-01 | $450,000 (-1.1%) | $616,458 (-4.6%) | 0.00 | 785 |
2018-10-01 | $449,688 (-3.2%) | $600,882 (-9.4%) | 0.00 | 751 |
2018-11-01 | $453,500 (-7.7%) | $604,184 (-11.0%) | 0.00 | 695 |
2018-12-01 | $459,000 (-9.0%) | $612,167 (-9.0%) | 0.00 | 601 |
2019-01-01 | $449,700 (-9.2%) | $610,909 (-6.9%) | 0.00 | 558 |
2019-02-01 | $459,000 (-11.4%) | $638,459 (-4.3%) | 0.00 | 544 |
2019-03-01 | $463,829 (-7.1%) | $659,221 (-3.8%) | 0.00 | 566 |
2019-04-01 | $458,517 (-9.3%) | $649,113 (-5.3%) | 0.00 | 614 |
2019-05-01 | $449,975 (-9.8%) | $636,282 (-4.3%) | 0.00 | 686 |
2019-06-01 | $438,500 (-9.6%) | $628,638 (-2.9%) | 0.00 | 731 |
2019-07-01 | $438,000 (-7.1%) | $621,280 (-2.3%) | 0.00 | 788 |
2019-08-01 | $442,000 (-3.2%) | $624,136 (0.1%) | 0.00 | 758 |
2019-09-01 | $446,500 (-0.8%) | $631,622 (2.5%) | 0.00 | 710 |
2019-10-01 | $450,000 (0.1%) | $639,753 (6.5%) | 0.00 | 671 |
2019-11-01 | $468,900 (3.4%) | $644,205 (6.6%) | 0.00 | 582 |
2019-12-01 | $484,753 (5.6%) | $662,456 (8.2%) | 0.00 | 486 |
2020-01-01 | $479,625 (6.7%) | $659,922 (8.0%) | 0.00 | 399 |
2020-02-01 | $509,000 (10.9%) | $692,135 (8.4%) | 0.00 | 368 |
2020-03-01 | $534,950 (15.3%) | $687,917 (4.4%) | 0.00 | 419 |
2020-04-01 | $515,725 (12.5%) | $662,703 (2.1%) | 0.00 | 481 |
2020-05-01 | $515,000 (14.5%) | $656,767 (3.2%) | 0.00 | 462 |
2020-06-01 | $491,450 (12.1%) | $649,251 (3.3%) | 0.00 | 407 |
2020-07-01 | $486,750 (11.1%) | $643,642 (3.6%) | 0.00 | 362 |
2020-08-01 | $535,000 (21.0%) | $680,410 (9.0%) | 0.00 | 279 |
2020-09-01 | $557,475 (24.9%) | $715,009 (13.2%) | 0.00 | 216 |
2020-10-01 | $564,000 (25.3%) | $766,520 (19.8%) | 0.00 | 180 |
2020-11-01 | $586,250 (25.0%) | $796,066 (23.6%) | 0.00 | 153 |
2020-12-01 | $575,250 (18.7%) | $762,840 (15.2%) | 0.00 | 129 |
2021-01-01 | $643,750 (34.2%) | $810,820 (22.9%) | 0.00 | 113 |
2021-02-01 | $635,975 (25.0%) | $820,442 (18.5%) | 0.00 | 109 |
2021-03-01 | $614,750 (14.9%) | $832,349 (21.0%) | 0.00 | 109 |
2021-04-01 | $637,450 (23.6%) | $834,230 (25.9%) | 0.00 | 148 |
2021-05-01 | $635,000 (23.3%) | $851,437 (29.6%) | 0.00 | 178 |
2021-06-01 | $649,900 (32.2%) | $854,033 (31.5%) | 0.00 | 217 |
2021-07-01 | $633,750 (30.2%) | $883,947 (37.3%) | 0.00 | 228 |
2021-08-01 | $646,000 (20.8%) | $895,640 (31.6%) | 0.00 | 239 |
2021-09-01 | $639,675 (14.8%) | $928,515 (29.9%) | 0.00 | 239 |
2021-10-01 | $650,000 (15.3%) | $965,194 (25.9%) | 0.00 | 179 |
2021-11-01 | $681,725 (16.3%) | $1,032,774 (29.7%) | 0.00 | 168 |
2021-12-01 | $645,475 (12.2%) | $993,386 (30.2%) | 0.00 | 153 |
2022-01-01 | $672,450 (4.5%) | $1,048,538 (29.3%) | 0.00 | 134 |
2022-02-01 | $674,611 (6.1%) | $1,039,074 (26.7%) | 0.00 | 128 |
2022-03-01 | $697,450 (13.5%) | $952,519 (14.4%) | 0.00 | 134 |
2022-04-01 | $715,000 (12.2%) | $953,887 (14.3%) | 0.00 | 192 |
2022-05-01 | $729,975 (15.0%) | $971,860 (14.1%) | 0.00 | 282 |
2022-06-01 | $725,000 (11.6%) | $964,538 (12.9%) | 0.00 | 389 |
2022-07-01 | $700,000 (10.5%) | $936,683 (6.0%) | 0.00 | 467 |
2022-08-01 | $718,875 (11.3%) | $964,247 (7.7%) | 0.00 | 437 |
2022-09-01 | $736,375 (15.1%) | $945,346 (1.8%) | 0.00 | 398 |
2022-10-01 | $750,000 (15.4%) | $984,791 (2.0%) | 0.00 | 411 |
2022-11-01 | $739,000 (8.4%) | $981,848 (-4.9%) | 0.00 | 365 |
2022-12-01 | $712,450 (10.4%) | $979,774 (-1.4%) | 0.00 | 331 |
2023-01-01 | $743,750 (10.6%) | $1,033,136 (-1.5%) | 0.00 | 279 |
2023-02-01 | $738,250 (9.4%) | $1,079,568 (3.9%) | 0.00 | 275 |
2023-03-01 | $738,500 (5.9%) | $1,089,654 (14.4%) | 0.00 | 257 |
2023-04-01 | $732,500 (2.5%) | $1,134,335 (18.9%) | 0.00 | 279 |
2023-05-01 | $758,750 (3.9%) | $1,149,996 (18.3%) | 0.00 | 353 |
2023-06-01 | $735,000 (1.4%) | $1,074,734 (11.4%) | 0.00 | 399 |
2023-07-01 | $734,000 (4.9%) | $1,071,476 (14.4%) | 0.00 | 433 |
2023-08-01 | $714,950 (-0.6%) | $1,046,521 (8.5%) | 0.00 | 463 |
2023-09-01 | $722,030 (-2.0%) | $1,083,966 (14.7%) | 0.00 | 453 |
2023-10-01 | $733,500 (-2.2%) | $1,038,779 (5.5%) | 0.00 | 450 |
Flagstaff's median listing price comes in at 0% of the national average.
Flagstaff's average listing price for 2023-10-01 was $1,038,779, a difference of $53,988 (5.5%) versus the prior year and $-45,187 versus the prior month.
For the 2023-10-01 period, Flagstaff had 450 MLS listings, a difference of -3 listings (-1%) versus the prior month and 39 listings (9%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Flagstaff (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,412 sqft |
2018-02-01 | 0 days | 2,426 sqft |
2018-03-01 | 0 days | 2,442 sqft |
2018-04-01 | 0 days | 2,445 sqft |
2018-05-01 | 0 days | 2,422 sqft |
2018-06-01 | 0 days | 2,402 sqft |
2018-07-01 | 0 days | 2,352 sqft |
2018-08-01 | 0 days | 2,302 sqft |
2018-09-01 | 0 days | 2,279 sqft |
2018-10-01 | 0 days | 2,266 sqft |
2018-11-01 | 0 days | 2,288 sqft |
2018-12-01 | 0 days | 2,240 sqft |
2019-01-01 | 0 days | 2,199 sqft |
2019-02-01 | 0 days | 2,200 sqft |
2019-03-01 | 0 days | 2,182 sqft |
2019-04-01 | 0 days | 2,166 sqft |
2019-05-01 | 0 days | 2,134 sqft |
2019-06-01 | 0 days | 2,114 sqft |
2019-07-01 | 0 days | 2,087 sqft |
2019-08-01 | 0 days | 2,116 sqft |
2019-09-01 | 0 days | 2,156 sqft |
2019-10-01 | 0 days | 2,185 sqft |
2019-11-01 | 0 days | 2,193 sqft |
2019-12-01 | 0 days | 2,200 sqft |
2020-01-01 | 0 days | 2,166 sqft |
2020-02-01 | 0 days | 2,296 sqft |
2020-03-01 | 0 days | 2,317 sqft |
2020-04-01 | 0 days | 2,200 sqft |
2020-05-01 | 0 days | 2,193 sqft |
2020-06-01 | 0 days | 2,175 sqft |
2020-07-01 | 0 days | 2,181 sqft |
2020-08-01 | 0 days | 2,147 sqft |
2020-09-01 | 0 days | 2,190 sqft |
2020-10-01 | 0 days | 2,196 sqft |
2020-11-01 | 0 days | 2,218 sqft |
2020-12-01 | 0 days | 2,124 sqft |
2021-01-01 | 0 days | 2,202 sqft |
2021-02-01 | 0 days | 2,056 sqft |
2021-03-01 | 0 days | 2,163 sqft |
2021-04-01 | 0 days | 2,092 sqft |
2021-05-01 | 0 days | 2,077 sqft |
2021-06-01 | 0 days | 2,052 sqft |
2021-07-01 | 0 days | 2,005 sqft |
2021-08-01 | 0 days | 2,013 sqft |
2021-09-01 | 0 days | 2,031 sqft |
2021-10-01 | 0 days | 2,071 sqft |
2021-11-01 | 0 days | 2,108 sqft |
2021-12-01 | 0 days | 2,061 sqft |
2022-01-01 | 0 days | 2,063 sqft |
2022-02-01 | 0 days | 2,068 sqft |
2022-03-01 | 0 days | 2,074 sqft |
2022-04-01 | 0 days | 2,004 sqft |
2022-05-01 | 0 days | 2,030 sqft |
2022-06-01 | 0 days | 2,044 sqft |
2022-07-01 | 0 days | 2,007 sqft |
2022-08-01 | 0 days | 2,055 sqft |
2022-09-01 | 0 days | 2,095 sqft |
2022-10-01 | 0 days | 2,130 sqft |
2022-11-01 | 0 days | 2,051 sqft |
2022-12-01 | 0 days | 2,004 sqft |
2023-01-01 | 0 days | 2,047 sqft |
2023-02-01 | 0 days | 2,028 sqft |
2023-03-01 | 0 days | 2,024 sqft |
2023-04-01 | 0 days | 2,033 sqft |
2023-05-01 | 0 days | 2,101 sqft |
2023-06-01 | 0 days | 2,052 sqft |
2023-07-01 | 0 days | 2,065 sqft |
2023-08-01 | 0 days | 2,093 sqft |
2023-09-01 | 0 days | 2,104 sqft |
2023-10-01 | 0 days | 2,087 sqft |
Flagstaff's median square footage for active listings during the 2023-10-01 period was 2,087 sqft. One year prior, the average listing was 2,130 sqft.