Fresno FHA Loans

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 5.2% 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 5.41% and one month ago for the week of 2022-04-15, the average rate was 4.9%.

The average rate one year ago was 3.27%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.29%.

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 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. Total Fees
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 & INVESTMENT LLC 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 & INVESTMENT LLC ($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 $299,900 (11.3%) $386,407 (4.5%) 1.10 1,338
2018-02-01 $299,950 (11.1%) $389,187 (5.1%) 1.08 1,355
2018-03-01 $304,900 (12.7%) $397,862 (6.2%) 1.06 1,397
2018-04-01 $311,350 (7.7%) $399,902 (4.1%) 1.04 1,471
2018-05-01 $316,500 (5.5%) $407,894 (1.2%) 1.06 1,542
2018-06-01 $315,000 (4.1%) $413,021 (1.3%) 1.05 1,642
2018-07-01 $314,950 (5.0%) $411,431 (2.4%) 1.05 1,724
2018-08-01 $315,000 (5.3%) $402,339 (1.8%) 1.05 1,861
2018-09-01 $310,000 (3.7%) $394,138 (0.8%) 1.04 1,984
2018-10-01 $309,000 (3.0%) $401,644 (3.6%) 1.03 2,065
2018-11-01 $307,600 (0.4%) $399,855 (2.9%) 1.03 2,001
2018-12-01 $308,000 (1.0%) $401,862 (3.7%) 1.05 1,818
2019-01-01 $299,950 (0.0%) $384,913 (-0.4%) 1.03 1,690
2019-02-01 $299,900 (0.0%) $384,817 (-1.1%) 1.00 1,752
2019-03-01 $306,429 (0.5%) $398,700 (0.2%) 1.00 1,743
2019-04-01 $315,000 (1.2%) $401,326 (0.4%) 0.99 1,814
2019-05-01 $325,000 (2.7%) $403,243 (-1.1%) 1.00 1,882
2019-06-01 $335,000 (6.4%) $409,559 (-0.8%) 1.03 1,902
2019-07-01 $339,700 (7.9%) $416,143 (1.2%) 1.06 1,859
2019-08-01 $334,114 (6.1%) $411,413 (2.3%) 1.05 1,858
2019-09-01 $328,413 (5.9%) $404,112 (2.5%) 1.04 1,826
2019-10-01 $327,599 (6.0%) $403,868 (0.6%) 1.05 1,837
2019-11-01 $325,000 (5.7%) $407,051 (1.8%) 1.05 1,751
2019-12-01 $326,300 (5.9%) $404,622 (0.7%) 1.09 1,551
2020-01-01 $325,760 (8.6%) $406,511 (5.6%) 1.09 1,335
2020-02-01 $319,500 (6.5%) $400,535 (4.1%) 1.03 1,299
2020-03-01 $334,225 (9.1%) $420,394 (5.4%) 1.04 1,240
2020-04-01 $329,750 (4.7%) $413,822 (3.1%) 1.03 1,315
2020-05-01 $338,400 (4.1%) $425,244 (5.5%) 1.03 1,202
2020-06-01 $345,300 (3.1%) $440,515 (7.6%) 1.01 1,010
2020-07-01 $352,000 (3.6%) $455,889 (9.6%) 1.01 836
2020-08-01 $349,999 (4.8%) $464,293 (12.9%) 1.00 779
2020-09-01 $352,000 (7.2%) $470,925 (16.5%) 1.01 806
2020-10-01 $350,000 (6.8%) $471,396 (16.7%) 1.00 813
2020-11-01 $353,000 (8.6%) $490,584 (20.5%) 1.01 732
2020-12-01 $336,950 (3.3%) $469,431 (16.0%) 0.99 674
2021-01-01 $350,000 (7.4%) $476,385 (17.2%) 1.03 536
2021-02-01 $350,000 (9.6%) $494,793 (23.5%) 1.01 506
2021-03-01 $352,500 (5.5%) $506,976 (20.6%) 0.99 518
2021-04-01 $375,000 (13.7%) $533,375 (28.9%) 1.01 536
2021-05-01 $389,000 (15.0%) $557,641 (31.1%) 1.02 588
2021-06-01 $400,000 (15.8%) $562,428 (27.7%) 1.04 714
2021-07-01 $399,925 (13.6%) $554,720 (21.7%) 1.04 791
2021-08-01 $400,000 (14.3%) $543,803 (17.1%) 1.05 852
2021-09-01 $402,500 (14.4%) $760,408 (61.5%) 1.06 872
2021-10-01 $400,000 (14.3%) $529,161 (12.3%) 1.05 846
2021-11-01 $412,500 (16.9%) $555,773 (13.3%) 1.09 783
2021-12-01 $425,000 (26.1%) $555,943 (18.4%) 1.13 671
2022-01-01 $410,000 (17.1%) $562,724 (18.1%) 1.09 538
2022-02-01 $390,000 (11.4%) $549,776 (11.1%) 0.99 538
2022-03-01 $412,450 (17.0%) $559,759 (10.4%) 1.02 585
2022-04-01 $425,000 (13.3%) $567,229 (6.4%) 1.00 684
Fresno's median listing price for 2022-04-01 was $425,000, a difference of $50,000 (13.3%) versus the prior year and $12,550 versus the prior month.

Fresno's median listing price comes in at 100% of the national average.

Fresno's average listing price for 2022-04-01 was $567,229, a difference of $33,854 (6.4%) versus the prior year and $7,470 versus the prior month.

For the 2022-04-01 period, Fresno had 684 MLS listings, a difference of 99 listings (17%) versus the prior month and 148 listings (28%) 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 1,845 sqft
2018-02-01 41 days 1,851 sqft
2018-03-01 42 days 1,884 sqft
2018-04-01 42 days 1,892 sqft
2018-05-01 40 days 1,878 sqft
2018-06-01 39 days 1,877 sqft
2018-07-01 39 days 1,873 sqft
2018-08-01 40 days 1,854 sqft
2018-09-01 44 days 1,843 sqft
2018-10-01 46 days 1,842 sqft
2018-11-01 51 days 1,840 sqft
2018-12-01 61 days 1,857 sqft
2019-01-01 62 days 1,824 sqft
2019-02-01 48 days 1,820 sqft
2019-03-01 45 days 1,851 sqft
2019-04-01 39 days 1,882 sqft
2019-05-01 41 days 1,933 sqft
2019-06-01 45 days 1,940 sqft
2019-07-01 49 days 1,950 sqft
2019-08-01 47 days 1,921 sqft
2019-09-01 49 days 1,898 sqft
2019-10-01 48 days 1,877 sqft
2019-11-01 49 days 1,868 sqft
2019-12-01 55 days 1,870 sqft
2020-01-01 63 days 1,855 sqft
2020-02-01 42 days 1,804 sqft
2020-03-01 41 days 1,866 sqft
2020-04-01 42 days 1,862 sqft
2020-05-01 50 days 1,875 sqft
2020-06-01 42 days 1,886 sqft
2020-07-01 39 days 1,890 sqft
2020-08-01 30 days 1,876 sqft
2020-09-01 28 days 1,857 sqft
2020-10-01 28 days 1,846 sqft
2020-11-01 37 days 1,837 sqft
2020-12-01 37 days 1,776 sqft
2021-01-01 39 days 1,793 sqft
2021-02-01 23 days 1,773 sqft
2021-03-01 18 days 1,804 sqft
2021-04-01 17 days 1,841 sqft
2021-05-01 15 days 1,848 sqft
2021-06-01 17 days 1,883 sqft
2021-07-01 22 days 1,872 sqft
2021-08-01 24 days 1,870 sqft
2021-09-01 28 days 1,859 sqft
2021-10-01 29 days 1,800 sqft
2021-11-01 30 days 1,853 sqft
2021-12-01 36 days 1,858 sqft
2022-01-01 38 days 1,773 sqft
2022-02-01 34 days 1,705 sqft
2022-03-01 32 days 1,721 sqft
2022-04-01 30 days 1,779 sqft
Fresno's median listing age (time on market) for 2022-04-01 was 30 days. This is 82% longer than the same period one year ago.

Fresno's median square footage for active listings during the 2022-04-01 period was 1,779 sqft. One year prior, the average listing was 1,841 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).