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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.