Grants Pass FHA Loans
GRANTS PASS, OR
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.
Grants Pass's 56 lenders originated 365 FHA loans during 2021. The total origination value was $96,395,000, with an average FHA loan value of $264,096.
Grants Pass FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Grants Pass
averaged
5.37%
for the week of 2022-05-13, compared to the national average (all FHA variants) of
5.361% for the same period.
The average rate for the prior week (2022-05-06) was
5.3% and
one month ago for the week of 2022-04-08, the
average rate was 5.07%.
The average rate one year ago was 2.87%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.06%.
Grants Pass 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 Grants Pass level.
The top Grants Pass FHA lender as defined by loan originations is CALIBER HOME LOANS, INC., with
62 FHA loans originated. Their average total fees are
$8,535, which is $3,880
lower than the next largest lender,
GUILD MORTGAGE COMPANY.
The lowest fee Grants Pass FHA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($5,890), QUICKEN LOANS, LLC ($8,036), CALIBER HOME LOANS, INC. ($8,535), LOANDEPOT.COM, LLC ($9,773) and Willamette Valley Bank ($9,819).
The lowest rate Grants Pass FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.54%), LAKEVIEW LOAN SERVICING, LLC (2.83%), CALIBER HOME LOANS, INC. (2.85%), GUILD MORTGAGE COMPANY (2.86%) and LOANDEPOT.COM, LLC (2.91%).
Grants Pass FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
GRANTS PASS, OR | JOSEPHINE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Grants Pass (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 | $359,900 (7.4%) | $557,935 (11.4%) | 0.00 | 401 |
2018-02-01 | $370,750 (10.8%) | $560,148 (12.4%) | 0.00 | 406 |
2018-03-01 | $372,000 (11.2%) | $534,248 (8.1%) | 0.00 | 445 |
2018-04-01 | $367,000 (-0.5%) | $524,116 (-1.4%) | 0.00 | 497 |
2018-05-01 | $367,000 (-3.3%) | $520,462 (-4.0%) | 0.00 | 528 |
2018-06-01 | $359,900 (-4.0%) | $510,375 (-4.1%) | 0.00 | 581 |
2018-07-01 | $359,000 (-2.7%) | $500,320 (-6.4%) | 0.00 | 596 |
2018-08-01 | $359,000 (-1.5%) | $501,548 (-7.4%) | 0.00 | 577 |
2018-09-01 | $350,000 (-2.5%) | $510,633 (-5.0%) | 0.00 | 596 |
2018-10-01 | $350,000 (0.1%) | $524,143 (-2.5%) | 0.00 | 557 |
2018-11-01 | $349,950 (-0.7%) | $527,594 (-3.7%) | 0.00 | 536 |
2018-12-01 | $350,000 (-5.2%) | $532,681 (-6.1%) | 0.00 | 501 |
2019-01-01 | $342,000 (-5.0%) | $533,806 (-4.3%) | 0.00 | 458 |
2019-02-01 | $344,500 (-7.1%) | $539,152 (-3.8%) | 0.00 | 445 |
2019-03-01 | $362,857 (-2.5%) | $551,294 (3.2%) | 0.00 | 428 |
2019-04-01 | $369,057 (0.6%) | $541,091 (3.2%) | 0.00 | 433 |
2019-05-01 | $369,450 (0.7%) | $530,910 (2.0%) | 0.00 | 495 |
2019-06-01 | $385,000 (7.0%) | $537,304 (5.3%) | 0.00 | 481 |
2019-07-01 | $378,250 (5.4%) | $534,476 (6.8%) | 0.00 | 478 |
2019-08-01 | $378,000 (5.3%) | $529,417 (5.6%) | 0.00 | 455 |
2019-09-01 | $378,500 (8.1%) | $530,084 (3.8%) | 0.00 | 423 |
2019-10-01 | $378,500 (8.1%) | $524,691 (0.1%) | 0.00 | 414 |
2019-11-01 | $399,500 (14.2%) | $566,836 (7.4%) | 0.00 | 363 |
2019-12-01 | $405,000 (15.7%) | $592,970 (11.3%) | 0.00 | 319 |
2020-01-01 | $418,000 (22.2%) | $607,611 (13.8%) | 0.00 | 286 |
2020-02-01 | $399,500 (16.0%) | $586,099 (8.7%) | 0.00 | 283 |
2020-03-01 | $392,000 (8.0%) | $532,946 (-3.3%) | 0.00 | 295 |
2020-04-01 | $379,000 (2.7%) | $504,969 (-6.7%) | 0.00 | 321 |
2020-05-01 | $421,000 (14.0%) | $565,982 (6.6%) | 0.00 | 286 |
2020-06-01 | $439,000 (14.0%) | $554,913 (3.3%) | 0.00 | 237 |
2020-07-01 | $459,700 (21.5%) | $561,705 (5.1%) | 0.00 | 204 |
2020-08-01 | $475,000 (25.7%) | $593,639 (12.1%) | 0.00 | 174 |
2020-09-01 | $433,500 (14.5%) | $549,000 (3.6%) | 0.00 | 168 |
2020-10-01 | $408,000 (7.8%) | $544,575 (3.8%) | 0.00 | 143 |
2020-11-01 | $439,000 (9.9%) | $552,916 (-2.5%) | 0.00 | 131 |
2020-12-01 | $415,000 (2.5%) | $522,493 (-11.9%) | 0.00 | 116 |
2021-01-01 | $399,000 (-4.6%) | $524,157 (-13.7%) | 0.00 | 90 |
2021-02-01 | $380,950 (-4.6%) | $489,634 (-16.5%) | 0.00 | 87 |
2021-03-01 | $392,475 (0.1%) | $502,168 (-5.8%) | 0.00 | 103 |
2021-04-01 | $444,950 (17.4%) | $569,307 (12.7%) | 0.00 | 109 |
2021-05-01 | $499,900 (18.7%) | $611,450 (8.0%) | 0.00 | 131 |
2021-06-01 | $559,450 (27.4%) | $651,091 (17.3%) | 0.00 | 160 |
2021-07-01 | $525,000 (14.2%) | $616,489 (9.8%) | 0.00 | 188 |
2021-08-01 | $522,000 (9.9%) | $614,002 (3.4%) | 0.00 | 240 |
2021-09-01 | $509,500 (17.5%) | $625,523 (13.9%) | 0.00 | 249 |
2021-10-01 | $510,000 (25.0%) | $628,370 (15.4%) | 0.00 | 261 |
2021-11-01 | $499,000 (13.7%) | $611,020 (10.5%) | 0.00 | 246 |
2021-12-01 | $499,450 (20.4%) | $603,156 (15.4%) | 0.00 | 226 |
2022-01-01 | $489,900 (22.8%) | $589,562 (12.5%) | 0.00 | 191 |
2022-02-01 | $487,450 (28.0%) | $608,382 (24.3%) | 0.00 | 191 |
2022-03-01 | $499,500 (27.3%) | $615,756 (22.6%) | 0.00 | 226 |
2022-04-01 | $499,000 (12.2%) | $617,947 (8.5%) | 0.00 | 268 |
Grants Pass's median listing price comes in at 0% of the national average.
Grants Pass's average listing price for 2022-04-01 was $617,947, a difference of $48,640 (8.5%) versus the prior year and $2,191 versus the prior month.
For the 2022-04-01 period, Grants Pass had 268 MLS listings, a difference of 42 listings (19%) versus the prior month and 159 listings (146%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Grants Pass (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,825 sqft |
2018-02-01 | 0 days | 1,900 sqft |
2018-03-01 | 0 days | 1,831 sqft |
2018-04-01 | 0 days | 1,812 sqft |
2018-05-01 | 0 days | 1,836 sqft |
2018-06-01 | 0 days | 1,848 sqft |
2018-07-01 | 0 days | 1,830 sqft |
2018-08-01 | 0 days | 1,811 sqft |
2018-09-01 | 0 days | 1,782 sqft |
2018-10-01 | 0 days | 1,792 sqft |
2018-11-01 | 0 days | 1,798 sqft |
2018-12-01 | 0 days | 1,821 sqft |
2019-01-01 | 0 days | 1,798 sqft |
2019-02-01 | 0 days | 1,782 sqft |
2019-03-01 | 0 days | 1,823 sqft |
2019-04-01 | 0 days | 1,838 sqft |
2019-05-01 | 0 days | 1,866 sqft |
2019-06-01 | 0 days | 1,924 sqft |
2019-07-01 | 0 days | 1,902 sqft |
2019-08-01 | 0 days | 1,912 sqft |
2019-09-01 | 0 days | 1,920 sqft |
2019-10-01 | 0 days | 1,898 sqft |
2019-11-01 | 0 days | 1,926 sqft |
2019-12-01 | 0 days | 1,969 sqft |
2020-01-01 | 0 days | 1,976 sqft |
2020-02-01 | 0 days | 1,919 sqft |
2020-03-01 | 0 days | 1,883 sqft |
2020-04-01 | 0 days | 1,842 sqft |
2020-05-01 | 0 days | 2,040 sqft |
2020-06-01 | 0 days | 2,139 sqft |
2020-07-01 | 0 days | 2,248 sqft |
2020-08-01 | 0 days | 2,127 sqft |
2020-09-01 | 0 days | 1,970 sqft |
2020-10-01 | 0 days | 1,954 sqft |
2020-11-01 | 0 days | 1,923 sqft |
2020-12-01 | 0 days | 1,850 sqft |
2021-01-01 | 0 days | 1,817 sqft |
2021-02-01 | 0 days | 1,695 sqft |
2021-03-01 | 0 days | 1,739 sqft |
2021-04-01 | 0 days | 1,817 sqft |
2021-05-01 | 0 days | 1,844 sqft |
2021-06-01 | 0 days | 1,928 sqft |
2021-07-01 | 0 days | 1,847 sqft |
2021-08-01 | 0 days | 1,851 sqft |
2021-09-01 | 0 days | 1,891 sqft |
2021-10-01 | 0 days | 1,867 sqft |
2021-11-01 | 0 days | 1,818 sqft |
2021-12-01 | 0 days | 1,821 sqft |
2022-01-01 | 0 days | 1,765 sqft |
2022-02-01 | 0 days | 1,788 sqft |
2022-03-01 | 0 days | 1,737 sqft |
2022-04-01 | 0 days | 1,700 sqft |
Grants Pass's median square footage for active listings during the 2022-04-01 period was 1,700 sqft. One year prior, the average listing was 1,817 sqft.