Fresno FHA Loan Rates, Closing Costs & Stats

FRESNO, CA

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.

Fresno's 150 lenders originated 4,189 FHA loans during 2021. The total origination value was $1,099,745,000, with an average FHA loan value of $262,532.

Fresno FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Fresno averaged 6.21% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Fresno's average FHA mortgage closing costs are $8,616.

The average rate for the prior week (2022-11-25) was 6.43% and one month ago for the week of 2022-10-28, the average rate was 6.67%.

The average rate one year ago was 3.2%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.4%.

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

Fresno 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 Fresno level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 267 2.67% $7,036
UNITED WHOLESALE MORTGAGE, LLC 258 2.73% $9,174
HOME POINT FINANCIAL CORPORATION 166 2.79% $8,982
ALAMEDA MORTGAGE CORPORATION 152 3.22% $10,034
FREEDOM MORTGAGE CORPORATION 151 2.78% $5,283
HOMEBRIDGE FINANCIAL SERVICES, INC. 148 2.94% $10,294
COUNTRY CLUB MORTGAGE, INC. 108 2.96% $9,702
Sierra Pacific Mortgage Company, Inc. 104 2.75% $11,207
PENNYMAC LOAN SERVICES, LLC 98 2.96% $5,779
AMERICAN PACIFIC MORTGAGE CORPORATION 95 2.99% $9,870
KINGS MORTGAGE SERVICES, INC. 89 2.79% $10,071
CMG MORTGAGE, INC. 85 2.72% $11,883
Lakeview Community Capital, LLC 84 2.85% $4,953
LAKEVIEW LOAN SERVICING, LLC 78 2.90% $5,110
Mr. Cooper ( Nationstar Mortgage ) 78 3.24% $4,855
Amerifirst Financial, Inc. 60 3.17% $10,102
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 59 3.43% $12,411
FINANCE OF AMERICA MORTGAGE LLC 57 2.66% $8,830
AMERICAN FINANCIAL NETWORK, INC. 53 3.04% $12,219
Carrington Mortgage Services, LLC 49 3.22% $8,909
CALIBER HOME LOANS, INC. 47 2.67% $6,962
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 42 3.24% $10,345
Platinum Home Mortgage Corporation 42 3.13% $13,579
CROSSCOUNTRY MORTGAGE, LLC 40 3.12% $10,511
GUILD MORTGAGE COMPANY 40 3.09% $10,384
LOANDEPOT.COM, LLC 36 3.09% $9,508
Commerce Home Mortgage, Inc. 34 2.92% $10,371
VILLAGE CAPITAL MORTGAGE 31 2.76% $3,190
NEWREZ LLC 31 2.87% $5,929
BROKER SOLUTIONS, INC. 30 2.89% $8,844
BAY EQUITY LLC 29 3.11% $10,557
MUFG Union Bank 29 2.69% $7,558
PREMIER MORTGAGE RESOURCES, L.L.C. 26 3.03% $10,225
KBHS HOME LOANS, LLC 25 3.11% $12,438
Hometown Equity Mortgage, LLC 24 3.40% $11,509
BEST CAPITAL FUNDING 23 2.43% $10,812
SUMMIT FUNDING, INC. 22 3.24% $11,123
SUN WEST MORTGAGE COMPANY, INC. 21 3.16% $9,392
ARK-LA-TEX FINANCIAL SERVICES, LLC. 20 3.21% $9,398
Golden Empire Mortgage, Inc. 19 3.24% $12,135
RESIDENTIAL BANCORP. 19 3.19% $10,859
AmeriHome Mortgage Company, LLC 19 2.84% $5,049
First Guaranty Mortgage Corporation 18 2.78% $7,229
RESIDENTIAL WHOLESALE MORTGAGE, INC. 18 3.13% $8,834
LOANPAL, LLC 18 2.69% $9,572
Prosperity Home Mortgage, LLC 18 3.60% $9,289
AMERISAVE MORTGAGE CORPORATION 17 2.83% $8,946
EAGLE HOME MORTGAGE, LLC 16 3.14% $11,067
MOUNTAIN WEST FINANCIAL, INC. 15 3.56% $15,130
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 15 2.88% $12,483
Paramount Residential Mortgage Group, Inc. 13 2.97% $9,524
INSPIRE HOME LOANS INC. 12 3.08% $10,779
NATIONS DIRECT MORTGAGE, LLC 11 3.08% $10,261
Equity Prime Mortgage LLC 11 2.97% $10,437
ACADEMY MORTGAGE CORPORATION 10 3.15% $10,549
PLAZA HOME MORTGAGE, INC. 10 2.96% $8,382
STEARNS LENDING, LLC 10 3.26% $9,669
ENVOY MORTGAGE, LTD 9 3.19% $12,269
Flagstar Bank, FSB 9 2.84% $9,013
PRIMARY RESIDENTIAL MORTGAGE, INC. 9 3.25% $10,117
OCMBC, INC. 9 2.79% $9,593
DHI MORTGAGE COMPANY, LTD. 9 2.91% $9,544
PLANET HOME LENDING, LLC 8 2.56% $5,619
CHERRY CREEK MORTGAGE, LLC 8 3.00% $3,672
Bank of America 8 2.84% $6,329
WESTERN EXPRESS LENDING 8 2.86% $8,574
InterContinental Capital Group, Inc 7 2.63% $7,821
GUARANTEED RATE, INC. 7 2.88% $9,886
MUTUAL OF OMAHA MORTGAGE, INC. 7 2.73% $8,370
PACIFIC RESIDENTIAL MORTGAGE, LLC 7 3.64% $10,653
THE GOLDEN 1 7 3.00% $8,885
AMERICAN FINANCING CORPORATION 7 2.89% $7,723
SECURITYNATIONAL MORTGAGE COMPANY 6 3.13% $12,087
Prime Choice Funding Inc. 6 2.87% $9,267
CALCON MUTUAL MORTGAGE LLC 5 3.20% $10,259
EVERETT FINANCIAL, INC. 5 3.43% $7,563
VERITAS FUNDING, LLC 5 2.85% $11,179
SCENIC OAKS FUNDING, INC. 5 2.68% $8,530
MLD MORTGAGE INC. 5 3.33% $9,454
CELEBRITY HOME LOANS, LLC 5 3.23% $7,906
CITYWIDE HOME LOANS, LLC 5 3.23% $9,210
SOVEREIGN LENDING GROUP INCORPORATED 4 2.66% $10,390
BECKAM FUNDING CORP. 4 3.25% $13,444
JPMorgan Chase Bank 4 2.78% $8,753
MASON MCDUFFIE MORTGAGE CORPORATION 4 2.94% $9,153
T2 FINANCIAL LLC 4 3.28% $12,031
MID AMERICA MORTGAGE, INC. 4 2.90% $3,531
MOVEMENT MORTGAGE, LLC 4 3.44% $9,003
The Federal Savings Bank 4 2.56% $12,319
ROYAL UNITED MORTGAGE LLC 3 2.75% $12,931
OCEANSIDE MORTGAGE COMPANY 3 2.41% $2,762
CALCULATED RISK ANALYTICS LLC 3 3.17% $7,032
TOP FLITE FINANCIAL, INC. 3 3.25% $15,120
FBC MORTGAGE, LLC 3 2.96% $8,564
LOANLEADERS OF AMERICA, INC. 3 2.79% $11,452
Plains Commerce Bank 3 2.79% $10,805
UNITED SECURITY FINANCIAL CORP 2 2.63% $5,684
LAND HOME FINANCIAL SERVICES, INC. 2 3.81% $11,712
DATA MORTGAGE, INC. 2 4.00% $12,256
Colten Mortgage, LLC 2 2.50% $8,062
Colonial Savings, F.A. 2 3.19% $9,866
CLEARPATH LENDING 2 3.00% $4,732
WALL FINANCIAL, INC. 2 3.06% $8,730
Nations Lending Corporation 2 2.81% $10,996
NEXERA HOLDING LLC 2 3.19% $8,107
PARKSIDE LENDING, LLC 2 2.88% $7,376
PHH Mortgage Corporation 2 3.13% $4,465
GUARANTEED RATE AFFINITY, LLC 2 2.69% $8,521
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.19% $11,083
Barrington Bank & Trust Company, N.A. 2 2.88% $20,985
Residential Mortgage Solutions, Inc. 2 2.81% $7,470
Bank of England 2 3.63% $10,445
ARC HOME LLC 2 2.69% $7,319
Franklin Loan Corporation 2 3.94% $13,983
KELLER MORTGAGE, LLC 2 3.00% $8,785
GENEVA FINANCIAL, LLC 2 3.00% $11,184
VISION ONE MORTGAGE, INC. 2 2.50% $7,208
INTELLILOAN, INC. 2 2.69% $5,567
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 2.75% $7,341
NETWORK CAPITAL FUNDING CORPORATION 1 3.63% $13,044
JMJ FINANCIAL GROUP 1 3.13% $10,002
Bank of the West 1 3.88% $7,360
U.S. Bank 1 2.88% $7,405
LADERA LENDING, INC. 1 2.50% $13,382
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $10,771
Mortgage Research Center, LLC 1 2.25% $15,583
S1L, Inc. 1 3.63% $15,457
MORIA DEVELOPMENT, INC. 1 3.13% $11,331
MID-VALLEY SERVICES, INC. 1 3.13% $14,214
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.75% $5,281
SNAPFI, INC. 1 2.63% $7,774
MEGA CAPITAL FUNDING, INC. 1 3.13% $6,654
Wyndham Capital Mortgage, Inc. 1 3.13% $6,465
AXIA FINANCIAL, LLC 1 2.88% $13,078
AMCAP MORTGAGE, LTD. 1 2.99% $10,110
LEADERONE FINANCIAL CORPORATION 1 2.88% $5,532
Texana Bank 1 4.25% $7,803
Wells Fargo Bank 1 2.88% $10,932
PANORAMA MORTGAGE GROUP, LLC 1 3.25% $16,590
Home Mortgage Alliance Corp 1 2.88% $8,526
DIGNIFIED HOME LOANS, LLC 1 2.75% $7,191
OPEN MORTGAGE, LLC 1 2.75% $6,074
FAY SERVICING, LLC 1 2.75% $4,593
First Bank 1 4.13% $15,411
FirstBank 1 2.63% $7,247
OAKTREE FUNDING CORP. 1 3.63% $7,480
First Federal Bank of Kansas City 1 2.75% $8,742
NP, Inc. 1 3.25% $5,952
DRAPER AND KRAMER MORTGAGE CORP. 1 2.75% $9,029
CHURCHILL MORTGAGE CORPORATION 1 2.50% $9,786

The top Fresno FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 267 FHA loans originated. Their average total fees are $7,036, which is $2,139 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Fresno FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($3,190), Mr. Cooper ( Nationstar Mortgage ) ($4,855), Lakeview Community Capital, LLC ($4,953), AmeriHome Mortgage Company, LLC ($5,049) and LAKEVIEW LOAN SERVICING, LLC ($5,110).

The lowest rate Fresno FHA lenders (with over 10 loans originated) are BEST CAPITAL FUNDING (2.43%), FINANCE OF AMERICA MORTGAGE LLC (2.66%), QUICKEN LOANS, LLC (2.67%), CALIBER HOME LOANS, INC. (2.67%) and LOANPAL, LLC (2.69%).

Fresno FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
FRESNO, CA FRESNO 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Fresno (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 $299,990 (11.6%) $387,495 (6.5%) 1.11 1,261
2018-02-01 $299,575 (11.2%) $389,566 (7.3%) 1.09 1,278
2018-03-01 $300,000 (11.1%) $397,689 (8.6%) 1.05 1,322
2018-04-01 $310,593 (7.5%) $399,753 (6.4%) 1.05 1,389
2018-05-01 $313,000 (4.4%) $407,362 (3.2%) 1.05 1,456
2018-06-01 $315,000 (2.4%) $413,073 (3.0%) 1.05 1,553
2018-07-01 $315,000 (5.0%) $406,358 (1.5%) 1.05 1,634
2018-08-01 $316,500 (5.7%) $400,591 (0.6%) 1.06 1,738
2018-09-01 $312,425 (4.5%) $393,909 (0.9%) 1.05 1,842
2018-10-01 $309,450 (3.2%) $399,082 (2.8%) 1.05 1,909
2018-11-01 $305,000 (0.3%) $395,945 (1.9%) 1.03 1,863
2018-12-01 $305,000 (0.7%) $394,482 (1.8%) 1.05 1,689
2019-01-01 $299,936 (0.0%) $376,876 (-2.7%) 1.04 1,566
2019-02-01 $299,975 (0.1%) $379,081 (-2.7%) 1.01 1,634
2019-03-01 $308,473 (2.8%) $390,755 (-1.7%) 1.01 1,636
2019-04-01 $313,850 (1.1%) $390,533 (-2.3%) 1.00 1,697
2019-05-01 $320,000 (2.2%) $397,510 (-2.4%) 1.00 1,736
2019-06-01 $330,000 (4.8%) $404,111 (-2.2%) 1.03 1,772
2019-07-01 $338,940 (7.6%) $413,091 (1.7%) 1.06 1,738
2019-08-01 $333,000 (5.2%) $408,626 (2.0%) 1.05 1,756
2019-09-01 $328,500 (5.2%) $402,498 (2.2%) 1.05 1,759
2019-10-01 $325,500 (5.2%) $402,283 (0.8%) 1.05 1,733
2019-11-01 $325,000 (6.6%) $405,851 (2.5%) 1.07 1,633
2019-12-01 $325,000 (6.6%) $402,752 (2.1%) 1.08 1,449
2020-01-01 $326,500 (8.9%) $407,581 (8.2%) 1.09 1,251
2020-02-01 $324,933 (8.3%) $400,821 (5.7%) 1.06 1,226
2020-03-01 $338,508 (9.7%) $422,040 (8.0%) 1.06 1,160
2020-04-01 $333,106 (6.1%) $414,755 (6.2%) 1.04 1,238
2020-05-01 $340,000 (6.3%) $425,992 (7.2%) 1.03 1,147
2020-06-01 $345,450 (4.7%) $440,402 (9.0%) 1.02 965
2020-07-01 $351,890 (3.8%) $452,606 (9.6%) 1.02 805
2020-08-01 $350,000 (5.1%) $461,228 (12.9%) 1.00 752
2020-09-01 $353,086 (7.5%) $463,633 (15.2%) 1.01 772
2020-10-01 $349,900 (7.5%) $465,956 (15.8%) 1.00 777
2020-11-01 $352,500 (8.5%) $480,906 (18.5%) 1.03 706
2020-12-01 $344,250 (5.9%) $462,464 (14.8%) 1.02 641
2021-01-01 $350,000 (7.2%) $464,047 (13.9%) 1.04 513
2021-02-01 $349,725 (7.6%) $473,570 (18.2%) 1.02 478
2021-03-01 $354,950 (4.9%) $484,725 (14.9%) 1.01 482
2021-04-01 $375,000 (12.6%) $517,185 (24.7%) 1.02 511
2021-05-01 $385,000 (13.2%) $536,425 (25.9%) 1.02 554
2021-06-01 $399,923 (15.8%) $543,535 (23.4%) 1.05 663
2021-07-01 $399,000 (13.4%) $535,184 (18.2%) 1.05 744
2021-08-01 $399,225 (14.1%) $533,269 (15.6%) 1.06 786
2021-09-01 $399,950 (13.3%) $653,605 (41.0%) 1.07 791
2021-10-01 $399,900 (14.3%) $520,352 (11.7%) 1.07 762
2021-11-01 $402,296 (14.1%) $530,263 (10.3%) 1.07 706
2021-12-01 $417,500 (21.3%) $537,360 (16.2%) 1.13 608
2022-01-01 $409,950 (17.1%) $546,018 (17.7%) 1.11 481
2022-02-01 $392,500 (12.2%) $532,803 (12.5%) 1.02 481
2022-03-01 $407,500 (14.8%) $542,486 (11.9%) 1.02 529
2022-04-01 $425,900 (13.6%) $555,168 (7.3%) 1.02 602
2022-05-01 $439,950 (14.3%) $561,144 (4.6%) 1.01 781
2022-06-01 $441,000 (10.3%) $557,575 (2.6%) 0.98 963
2022-07-01 $439,900 (10.3%) $541,342 (1.2%) 1.00 1,264
2022-08-01 $431,400 (8.1%) $534,448 (0.2%) 1.00 1,276
2022-09-01 $430,513 (7.6%) $528,811 (-19.1%) 1.01 1,276
2022-10-01 $425,550 (6.4%) $524,289 (0.8%) 1.00 1,301
2022-11-01 $419,850 (4.4%) $529,414 (-0.2%) 1.01 1,302
Fresno's median listing price for 2022-11-01 was $419,850, a difference of $17,554 (4.4%) versus the prior year and $-5,700 versus the prior month.

Fresno's median listing price comes in at 101% of the national average.

Fresno's average listing price for 2022-11-01 was $529,414, a difference of $-849 (-0.2%) versus the prior year and $5,125 versus the prior month.

For the 2022-11-01 period, Fresno had 1,302 MLS listings, a difference of 1 listings (0%) versus the prior month and 596 listings (84%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Fresno (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 60 days 1,833 sqft
2018-02-01 40 days 1,835 sqft
2018-03-01 43 days 1,869 sqft
2018-04-01 43 days 1,885 sqft
2018-05-01 39 days 1,870 sqft
2018-06-01 39 days 1,874 sqft
2018-07-01 39 days 1,861 sqft
2018-08-01 41 days 1,841 sqft
2018-09-01 45 days 1,833 sqft
2018-10-01 47 days 1,828 sqft
2018-11-01 51 days 1,827 sqft
2018-12-01 60 days 1,828 sqft
2019-01-01 63 days 1,811 sqft
2019-02-01 48 days 1,808 sqft
2019-03-01 43 days 1,845 sqft
2019-04-01 40 days 1,870 sqft
2019-05-01 42 days 1,886 sqft
2019-06-01 46 days 1,900 sqft
2019-07-01 47 days 1,904 sqft
2019-08-01 47 days 1,889 sqft
2019-09-01 47 days 1,873 sqft
2019-10-01 48 days 1,862 sqft
2019-11-01 51 days 1,856 sqft
2019-12-01 58 days 1,855 sqft
2020-01-01 64 days 1,831 sqft
2020-02-01 45 days 1,797 sqft
2020-03-01 41 days 1,857 sqft
2020-04-01 43 days 1,853 sqft
2020-05-01 50 days 1,876 sqft
2020-06-01 43 days 1,875 sqft
2020-07-01 39 days 1,874 sqft
2020-08-01 29 days 1,859 sqft
2020-09-01 26 days 1,838 sqft
2020-10-01 28 days 1,828 sqft
2020-11-01 36 days 1,821 sqft
2020-12-01 37 days 1,767 sqft
2021-01-01 40 days 1,769 sqft
2021-02-01 23 days 1,741 sqft
2021-03-01 18 days 1,767 sqft
2021-04-01 15 days 1,822 sqft
2021-05-01 15 days 1,806 sqft
2021-06-01 16 days 1,856 sqft
2021-07-01 22 days 1,853 sqft
2021-08-01 23 days 1,844 sqft
2021-09-01 27 days 1,831 sqft
2021-10-01 26 days 1,794 sqft
2021-11-01 30 days 1,830 sqft
2021-12-01 35 days 1,832 sqft
2022-01-01 35 days 1,782 sqft
2022-02-01 30 days 1,696 sqft
2022-03-01 30 days 1,717 sqft
2022-04-01 26 days 1,770 sqft
2022-05-01 24 days 1,792 sqft
2022-06-01 26 days 1,801 sqft
2022-07-01 32 days 1,792 sqft
2022-08-01 37 days 1,760 sqft
2022-09-01 44 days 1,772 sqft
2022-10-01 46 days 1,746 sqft
2022-11-01 47 days 1,728 sqft
Fresno's median listing age (time on market) for 2022-11-01 was 47 days. This is 58% longer than the same period one year ago.

Fresno's median square footage for active listings during the 2022-11-01 period was 1,728 sqft. One year prior, the average listing was 1,830 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).