Gardnerville Ranchos FHA Loan Rates, Closing Costs & Stats

Gardnerville Ranchos, 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.

Gardnerville Ranchos's 40 lenders originated 182 FHA loans during 2021. The total origination value was $57,030,000, with an average FHA loan value of $313,352.

Gardnerville Ranchos FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Gardnerville Ranchos averaged 6.38% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Gardnerville Ranchos's average FHA mortgage closing costs are $9,622.

The average rate for the prior week (2022-11-25) was 6.4% and one month ago for the week of 2022-10-28, the average rate was 6.74%.

The average rate one year ago was 3.27%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.13%.

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

Gardnerville Ranchos 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 Gardnerville Ranchos level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
GUILD MORTGAGE COMPANY 36 3.24% $12,114
QUICKEN LOANS, LLC 10 2.66% $9,612
FREEDOM MORTGAGE CORPORATION 8 2.78% $5,226
LAKEVIEW LOAN SERVICING, LLC 7 2.91% $5,831
PENNYMAC LOAN SERVICES, LLC 7 2.79% $7,536
Sierra Pacific Mortgage Company, Inc. 5 2.80% $10,990
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 3.28% $11,472
FINANCE OF AMERICA MORTGAGE LLC 4 3.00% $10,145
VILLAGE CAPITAL MORTGAGE 3 2.79% $4,571
BROKER SOLUTIONS, INC. 3 3.49% $11,576
CALIBER HOME LOANS, INC. 3 2.58% $7,310
LOANDEPOT.COM, LLC 3 3.04% $7,624
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 2.83% $12,858
InterContinental Capital Group, Inc 2 3.25% $10,888
DIGNIFIED HOME LOANS, LLC 2 3.13% $14,101
CROSSCOUNTRY MORTGAGE, LLC 2 2.94% $10,702
Mr. Cooper ( Nationstar Mortgage ) 2 2.88% $6,281
SUMMIT FUNDING, INC. 2 3.50% $11,985
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.50% $9,446
HOME POINT FINANCIAL CORPORATION 2 2.44% $10,831
GUARANTEED RATE, INC. 2 3.19% $9,800
MOVEMENT MORTGAGE, LLC 1 2.88% $9,615
Gateway First Bank 1 3.63% $14,132
NEWREZ LLC 1 2.75% $5,415
Northpointe Bank 1 3.63% $10,466
Paramount Residential Mortgage Group, Inc. 1 2.63% $10,402
Equity Prime Mortgage LLC 1 3.75% $8,528
PHH Mortgage Corporation 1 3.13% $2,532
AMERISAVE MORTGAGE CORPORATION 1 2.88% $12,854
Carrington Mortgage Services, LLC 1 4.63% $9,454
UNITED 1 2.38% $8,277
GREATER NEVADA LLC 1 4.50% $10,123
NATIONS DIRECT MORTGAGE, LLC 1 2.25% $10,175
Hometown Lenders, Inc. 1 3.13% $12,560
INSPIRE HOME LOANS INC. 1 3.75% $11,397
ISERVE RESIDENTIAL LENDING, LLC 1 3.00% $10,568
First Savings Bank 1 2.88% $6,977
UNITED WHOLESALE MORTGAGE, LLC 1 2.66% $4,841
MASON MCDUFFIE MORTGAGE CORPORATION 1 3.25% $6,418
MID AMERICA MORTGAGE, INC. 1 2.75% $2,909

The top Gardnerville Ranchos FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 36 FHA loans originated. Their average total fees are $12,114, which is $2,501 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Gardnerville Ranchos FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($9,612), GUILD MORTGAGE COMPANY ($12,114), .

The lowest rate Gardnerville Ranchos FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.66%), GUILD MORTGAGE COMPANY (3.24%), .

Gardnerville Ranchos FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
GARDNERVILLE RANCHOS, NV DOUGLAS 2022 $569,250 $728,750 $880,900 $1,094,700

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Gardnerville Ranchos (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 $655,750 (9.5%) $1,733,342 (-25.6%) 0.00 216
2018-02-01 $696,000 (11.5%) $1,521,001 (-30.6%) 0.00 193
2018-03-01 $689,000 (6.1%) $1,839,456 (-18.6%) 0.00 190
2018-04-01 $654,500 (2.3%) $1,932,636 (-12.0%) 0.00 199
2018-05-01 $630,900 (0.7%) $1,742,891 (-15.0%) 0.00 230
2018-06-01 $636,000 (6.2%) $1,724,887 (-11.2%) 0.00 271
2018-07-01 $667,000 (11.4%) $1,585,672 (-16.5%) 0.00 313
2018-08-01 $629,429 (0.8%) $1,534,392 (-24.4%) 0.00 327
2018-09-01 $627,500 (-3.3%) $1,666,049 (0.6%) 0.00 316
2018-10-01 $623,475 (-9.3%) $1,667,377 (5.2%) 0.00 329
2018-11-01 $599,250 (-14.2%) $1,717,468 (5.3%) 0.00 315
2018-12-01 $585,000 (-18.5%) $1,748,948 (3.5%) 0.00 296
2019-01-01 $593,625 (-9.5%) $1,512,159 (-12.8%) 0.00 262
2019-02-01 $595,125 (-14.5%) $1,570,124 (3.2%) 0.00 236
2019-03-01 $602,929 (-12.5%) $1,626,314 (-11.6%) 0.00 251
2019-04-01 $616,500 (-5.8%) $1,659,971 (-14.1%) 0.00 272
2019-05-01 $619,875 (-1.8%) $1,546,584 (-11.3%) 0.00 302
2019-06-01 $634,000 (-0.3%) $1,542,543 (-10.6%) 0.00 315
2019-07-01 $660,000 (-1.1%) $1,701,984 (7.3%) 0.00 365
2019-08-01 $692,518 (10.0%) $1,706,580 (11.2%) 0.00 368
2019-09-01 $696,445 (11.0%) $1,709,666 (2.6%) 0.00 364
2019-10-01 $696,814 (11.8%) $1,706,202 (2.3%) 0.00 359
2019-11-01 $697,000 (16.3%) $1,818,085 (5.9%) 0.00 315
2019-12-01 $699,500 (19.6%) $1,880,196 (7.5%) 0.00 298
2020-01-01 $694,750 (17.0%) $1,791,085 (18.5%) 0.00 266
2020-02-01 $682,000 (14.6%) $1,782,094 (13.5%) 0.00 257
2020-03-01 $751,875 (24.7%) $1,880,869 (15.7%) 0.00 236
2020-04-01 $726,750 (17.9%) $1,816,263 (9.4%) 0.00 259
2020-05-01 $719,000 (16.0%) $1,642,705 (6.2%) 0.00 277
2020-06-01 $788,000 (24.3%) $1,943,648 (26.0%) 0.00 256
2020-07-01 $792,475 (20.1%) $1,601,107 (-5.9%) 0.00 225
2020-08-01 $829,000 (19.7%) $1,597,102 (-6.4%) 0.00 182
2020-09-01 $868,000 (24.6%) $2,238,515 (30.9%) 0.00 150
2020-10-01 $850,000 (22.0%) $2,319,258 (35.9%) 0.00 136
2020-11-01 $824,725 (18.3%) $2,316,783 (27.4%) 0.00 125
2020-12-01 $847,950 (21.2%) $2,550,260 (35.6%) 0.00 102
2021-01-01 $882,000 (27.0%) $2,990,132 (67.0%) 0.00 76
2021-02-01 $881,225 (29.2%) $3,308,857 (85.7%) 0.00 70
2021-03-01 $760,750 (1.2%) $2,468,307 (31.2%) 0.00 75
2021-04-01 $683,750 (-5.9%) $1,877,591 (3.4%) 0.00 112
2021-05-01 $789,450 (9.8%) $1,865,451 (13.6%) 0.00 100
2021-06-01 $824,500 (4.6%) $1,868,187 (-3.9%) 0.00 112
2021-07-01 $844,000 (6.5%) $1,752,805 (9.5%) 0.00 127
2021-08-01 $891,750 (7.6%) $1,857,436 (16.3%) 0.00 146
2021-09-01 $869,200 (0.1%) $1,823,708 (-18.5%) 0.00 145
2021-10-01 $836,950 (-1.5%) $2,113,293 (-8.9%) 0.00 176
2021-11-01 $870,725 (5.6%) $2,078,954 (-10.3%) 0.00 148
2021-12-01 $850,000 (0.2%) $2,067,935 (-18.9%) 0.00 127
2022-01-01 $859,000 (-2.6%) $2,368,556 (-20.8%) 0.00 106
2022-02-01 $899,000 (2.0%) $2,519,118 (-23.9%) 0.00 82
2022-03-01 $854,500 (12.3%) $2,191,436 (-11.2%) 0.00 82
2022-04-01 $895,000 (30.9%) $1,998,029 (6.4%) 0.00 110
2022-05-01 $870,000 (10.2%) $1,856,378 (-0.5%) 0.00 148
2022-06-01 $847,500 (2.8%) $2,514,396 (34.6%) 0.00 219
2022-07-01 $848,255 (0.5%) $2,220,563 (26.7%) 0.00 276
2022-08-01 $834,500 (-6.4%) $2,210,634 (19.0%) 0.00 275
2022-09-01 $835,528 (-3.9%) $2,134,736 (17.1%) 0.00 280
2022-10-01 $799,999 (-4.4%) $2,072,656 (-1.9%) 0.00 263
2022-11-01 $777,731 (-10.7%) $1,853,602 (-10.8%) 0.00 254
Gardnerville Ranchos's median listing price for 2022-11-01 was $777,731, a difference of $-92,994 (-10.7%) versus the prior year and $-22,268 versus the prior month.

Gardnerville Ranchos's median listing price comes in at 0% of the national average.

Gardnerville Ranchos's average listing price for 2022-11-01 was $1,853,602, a difference of $-225,352 (-10.8%) versus the prior year and $-219,054 versus the prior month.

For the 2022-11-01 period, Gardnerville Ranchos had 254 MLS listings, a difference of -9 listings (-3%) versus the prior month and 106 listings (72%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Gardnerville Ranchos (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,288 sqft
2018-02-01 0 days 2,388 sqft
2018-03-01 0 days 2,392 sqft
2018-04-01 0 days 2,381 sqft
2018-05-01 0 days 2,308 sqft
2018-06-01 0 days 2,309 sqft
2018-07-01 0 days 2,237 sqft
2018-08-01 0 days 2,185 sqft
2018-09-01 0 days 2,195 sqft
2018-10-01 0 days 2,197 sqft
2018-11-01 0 days 2,210 sqft
2018-12-01 0 days 2,218 sqft
2019-01-01 0 days 2,187 sqft
2019-02-01 0 days 2,226 sqft
2019-03-01 0 days 2,162 sqft
2019-04-01 0 days 2,197 sqft
2019-05-01 0 days 2,227 sqft
2019-06-01 0 days 2,269 sqft
2019-07-01 0 days 2,296 sqft
2019-08-01 0 days 2,303 sqft
2019-09-01 0 days 2,356 sqft
2019-10-01 0 days 2,381 sqft
2019-11-01 0 days 2,371 sqft
2019-12-01 0 days 2,408 sqft
2020-01-01 0 days 2,428 sqft
2020-02-01 0 days 2,424 sqft
2020-03-01 0 days 2,475 sqft
2020-04-01 0 days 2,450 sqft
2020-05-01 0 days 2,443 sqft
2020-06-01 0 days 2,602 sqft
2020-07-01 0 days 2,654 sqft
2020-08-01 0 days 2,650 sqft
2020-09-01 0 days 2,624 sqft
2020-10-01 0 days 2,545 sqft
2020-11-01 0 days 2,360 sqft
2020-12-01 0 days 2,540 sqft
2021-01-01 0 days 2,491 sqft
2021-02-01 0 days 2,470 sqft
2021-03-01 0 days 2,218 sqft
2021-04-01 0 days 2,078 sqft
2021-05-01 0 days 2,097 sqft
2021-06-01 0 days 2,148 sqft
2021-07-01 0 days 2,105 sqft
2021-08-01 0 days 2,194 sqft
2021-09-01 0 days 2,270 sqft
2021-10-01 0 days 2,124 sqft
2021-11-01 0 days 2,115 sqft
2021-12-01 0 days 2,097 sqft
2022-01-01 0 days 2,112 sqft
2022-02-01 0 days 2,293 sqft
2022-03-01 0 days 2,143 sqft
2022-04-01 0 days 2,168 sqft
2022-05-01 0 days 2,103 sqft
2022-06-01 0 days 2,118 sqft
2022-07-01 0 days 2,128 sqft
2022-08-01 0 days 2,117 sqft
2022-09-01 0 days 2,126 sqft
2022-10-01 0 days 2,119 sqft
2022-11-01 0 days 2,111 sqft
Gardnerville Ranchos's median listing age (time on market) for 2022-11-01 was 0 days.

Gardnerville Ranchos's median square footage for active listings during the 2022-11-01 period was 2,111 sqft. One year prior, the average listing was 2,115 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).