Grants Pass FHA Loan Rates, Closing Costs & Stats

GRANTS PASS, OR

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    • 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 43 lenders originated 227 FHA loans during 2024. The total origination value was $74,435,000, with an average FHA loan value of $327,907.

    Grants Pass FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Grants Pass averaged 0.13% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Grants Pass's average FHA mortgage closing costs are $10,811.

    The average rate for the prior week (2025-06-13) was 6.61% and one month ago for the week of 2025-05-16, the average rate was 6.37%.

    The average rate one year ago was 6.93%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.12%.

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

    Grants Pass 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 Grants Pass level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Nations Lending Corporation 34 6.36% $10,361
    GUILD MORTGAGE COMPANY 32 5.82% $16,695
    CROSSCOUNTRY MORTGAGE, LLC 21 6.70% $15,493
    UNITED WHOLESALE MORTGAGE, LLC 13 6.05% $16,765
    QUICKEN LOANS, LLC 12 5.93% $12,900
    LOANDEPOT.COM, LLC 9 6.23% $13,625
    NATIONS DIRECT MORTGAGE, LLC 8 5.98% $13,362
    Sunflower Bank 7 5.92% $15,282
    MOUNTAIN WEST FINANCIAL, INC. 5 6.40% $14,624
    PENNYMAC LOAN SERVICES, LLC 4 5.90% $14,352
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.44% $16,363
    GUARANTEED RATE, INC. 3 6.08% $16,379
    BROKER SOLUTIONS, INC. 3 6.08% $14,865
    CMG MORTGAGE, INC. 3 6.79% $13,769
    Paramount Residential Mortgage Group, Inc. 3 6.67% $12,905
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 2 6.69% $18,900
    CARDINAL FINANCIAL 2 6.50% $19,793
    Century Mortgage Company DBA Century Lending Company 2 6.13% $14,094
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.50% $6,685
    NEWREZ LLC 2 6.25% $11,371
    Plains Commerce Bank 2 6.50% $21,015
    MID AMERICA MORTGAGE, INC. 1 5.75% $5,443
    MORTGAGE EXPRESS, LLC 1 6.49% $11,415
    INTELLILOAN, INC. 1 5.50% $9,669
    GENEVA FINANCIAL, LLC 1 6.00% $24,711
    Flagstar Bank, FSB 1 5.75% $20,994
    Willamette Valley Bank 1 6.25% $15,525
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $11,047
    EMM LOANS LLC 1 5.99% $20,603
    PENTAGON FEDERAL CREDIT UNION 1 5.75% $16,835
    ZILLOW HOME LOANS, LLC 1 5.75% $7,324
    PLANET HOME LENDING, LLC 1 3.00% $2,446
    PLAZA HOME MORTGAGE, INC. 1 6.50% $15,370
    AMERISAVE MORTGAGE CORPORATION 1 7.25% $14,162
    RANLIFE, INC. 1 5.50% $13,165
    S1L, Inc. 1 6.25% $16,104
    Sierra Pacific Mortgage Company, Inc. 1 6.75% $17,906
    SUMMIT FUNDING, INC. 1 6.63% $18,343
    AmeriHome Mortgage Company, LLC 1 6.50% $12,437
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.38% $35,109
    VILLAGE CAPITAL MORTGAGE 1 5.75% $22,840
    ISERVE RESIDENTIAL LENDING, LLC 1 5.99% $7,955
    Loan Simple, Inc. 1 6.63% $16,645

    The top Grants Pass FHA lender as defined by loan originations is Nations Lending Corporation, with 34 FHA loans originated. Their average total fees are $10,361, which is $6,334 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Grants Pass FHA lenders (with over 10 loans originated) are Nations Lending Corporation ($10,361), QUICKEN LOANS, LLC ($12,900), CROSSCOUNTRY MORTGAGE, LLC ($15,493), GUILD MORTGAGE COMPANY ($16,695) and UNITED WHOLESALE MORTGAGE, LLC ($16,765).

    The lowest rate Grants Pass FHA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (5.82%), QUICKEN LOANS, LLC (5.93%), UNITED WHOLESALE MORTGAGE, LLC (6.05%), Nations Lending Corporation (6.36%) and CROSSCOUNTRY MORTGAGE, LLC (6.70%).

    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
    GRANTS PASS, OR JOSEPHINE 2023 $472,030 $604,400 $730,525 $907,900

    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).