Hailey FHA Loan Rates, Closing Costs & Stats

Hailey, ID

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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.

    Hailey's 7 lenders originated 22 FHA loans during 2023. The total origination value was $8,910,000, with an average FHA loan value of $405,000.

    Hailey FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Hailey averaged 6.74% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Hailey's average FHA mortgage closing costs are $10,482.

    The average rate for the prior week (2024-04-12) was 6.53% and one month ago for the week of 2024-03-15, the average rate was 6.4%.

    The average rate one year ago was 6.42%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Hailey 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 Hailey level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 5 5.84% $24,668
    UNITED WHOLESALE MORTGAGE, LLC 5 5.83% $13,546
    LOANDEPOT.COM, LLC 1 6.50% $16,593
    BAY-VALLEY MORTGAGE GROUP 1 7.88% $31,076
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.00% $16,942
    MOVEMENT MORTGAGE, LLC 1 6.75% $20,305
    BECKAM FUNDING CORP. 1 7.25% $23,806

    The top Hailey FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 5 FHA loans originated. Their average total fees are $24,668, which is $11,121 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Hailey FHA lenders (with over 10 loans originated) are .

    The lowest rate Hailey FHA lenders (with over 10 loans originated) are .

    Hailey FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    HAILEY, ID BLAINE 2022 $648,600 $830,300 $1,003,650 $1,247,300
    HAILEY, ID CAMAS 2022 $648,600 $830,300 $1,003,650 $1,247,300
    HAILEY, ID BLAINE 2023 $740,600 $948,100 $1,146,050 $1,424,250
    HAILEY, ID CAMAS 2023 $740,600 $948,100 $1,146,050 $1,424,250

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hailey (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 $940,000 (20.4%) $1,719,142 (11.4%) 0.00 459
    2018-02-01 $969,250 (22.3%) $1,806,920 (15.3%) 0.00 446
    2018-03-01 $947,000 (18.5%) $1,751,845 (6.9%) 0.00 432
    2018-04-01 $897,000 (17.1%) $1,695,587 (6.5%) 0.00 424
    2018-05-01 $862,000 (12.2%) $1,635,362 (10.3%) 0.00 430
    2018-06-01 $875,000 (14.8%) $1,706,426 (16.0%) 0.00 498
    2018-07-01 $872,000 (12.5%) $1,723,226 (15.8%) 0.00 540
    2018-08-01 $876,250 (14.8%) $1,788,922 (20.2%) 0.00 531
    2018-09-01 $869,000 (12.9%) $1,794,518 (19.8%) 0.00 507
    2018-10-01 $876,250 (10.2%) $1,774,009 (14.0%) 0.00 465
    2018-11-01 $872,500 (1.5%) $1,784,994 (12.2%) 0.00 419
    2018-12-01 $882,000 (-1.5%) $1,821,757 (10.4%) 0.00 405
    2019-01-01 $875,000 (-6.9%) $1,855,547 (7.9%) 0.00 373
    2019-02-01 $892,000 (-8.0%) $1,890,835 (4.6%) 0.00 358
    2019-03-01 $1,043,286 (10.2%) $2,028,442 (15.8%) 0.00 337
    2019-04-01 $1,158,536 (29.2%) $2,115,446 (24.8%) 0.00 317
    2019-05-01 $982,500 (14.0%) $1,986,899 (21.5%) 0.00 340
    2019-06-01 $995,000 (13.7%) $2,022,952 (18.6%) 0.00 375
    2019-07-01 $976,000 (11.9%) $2,027,334 (17.7%) 0.00 397
    2019-08-01 $991,000 (13.1%) $2,024,698 (13.2%) 0.00 390
    2019-09-01 $1,038,250 (19.5%) $2,033,535 (13.3%) 0.00 366
    2019-10-01 $1,118,750 (27.7%) $2,092,850 (18.0%) 0.00 344
    2019-11-01 $1,195,000 (37.0%) $2,202,598 (23.4%) 0.00 306
    2019-12-01 $1,285,000 (45.7%) $2,262,271 (24.2%) 0.00 298
    2020-01-01 $1,377,500 (57.4%) $2,345,013 (26.4%) 0.00 264
    2020-02-01 $1,395,000 (56.4%) $2,353,029 (24.4%) 0.00 268
    2020-03-01 $1,262,500 (21.0%) $2,177,705 (7.4%) 0.00 280
    2020-04-01 $1,262,500 (9.0%) $2,115,465 (0.0%) 0.00 272
    2020-05-01 $1,175,000 (19.6%) $2,085,147 (4.9%) 0.00 274
    2020-06-01 $1,115,000 (12.1%) $2,067,290 (2.2%) 0.00 311
    2020-07-01 $1,198,750 (22.8%) $2,046,219 (0.9%) 0.00 322
    2020-08-01 $1,197,500 (20.8%) $2,134,145 (5.4%) 0.00 287
    2020-09-01 $1,236,250 (19.1%) $2,261,941 (11.2%) 0.00 259
    2020-10-01 $1,395,000 (24.7%) $2,497,608 (19.3%) 0.00 195
    2020-11-01 $1,643,750 (37.6%) $2,862,493 (30.0%) 0.00 150
    2020-12-01 $1,648,750 (28.3%) $2,898,616 (28.1%) 0.00 136
    2021-01-01 $1,847,500 (34.1%) $3,221,034 (37.4%) 0.00 96
    2021-02-01 $1,603,000 (14.9%) $3,306,679 (40.5%) 0.00 86
    2021-03-01 $1,499,500 (18.8%) $3,314,199 (52.2%) 0.00 81
    2021-04-01 $917,250 (-27.4%) $2,760,153 (30.5%) 0.00 92
    2021-05-01 $917,500 (-21.9%) $2,799,943 (34.3%) 0.00 96
    2021-06-01 $956,500 (-14.2%) $2,620,116 (26.7%) 0.00 105
    2021-07-01 $1,475,000 (23.0%) $2,770,357 (35.4%) 0.00 132
    2021-08-01 $1,561,250 (30.4%) $2,720,334 (27.5%) 0.00 149
    2021-09-01 $1,472,500 (19.1%) $2,808,207 (24.2%) 0.00 140
    2021-10-01 $1,300,000 (-6.8%) $2,443,023 (-2.2%) 0.00 130
    2021-11-01 $1,363,750 (-17.0%) $2,767,623 (-3.3%) 0.00 119
    2021-12-01 $1,525,000 (-7.5%) $2,928,664 (1.0%) 0.00 109
    2022-01-01 $1,850,000 (0.1%) $3,226,198 (0.2%) 0.00 88
    2022-02-01 $2,147,500 (34.0%) $3,305,866 (0.0%) 0.00 79
    2022-03-01 $3,200,000 (113.4%) $3,734,713 (12.7%) 0.00 80
    2022-04-01 $2,100,000 (129.0%) $3,524,929 (27.7%) 0.00 83
    2022-05-01 $1,523,000 (66.0%) $3,641,190 (30.1%) 0.00 90
    2022-06-01 $1,667,500 (74.3%) $3,396,876 (29.7%) 0.00 136
    2022-07-01 $1,572,500 (6.6%) $3,117,284 (12.5%) 0.00 196
    2022-08-01 $1,345,000 (-13.9%) $2,727,040 (0.3%) 0.00 211
    2022-09-01 $1,439,500 (-2.2%) $2,792,947 (-0.5%) 0.00 207
    2022-10-01 $1,472,500 (13.3%) $2,928,819 (19.9%) 0.00 193
    2022-11-01 $1,583,750 (16.1%) $3,009,816 (8.8%) 0.00 180
    2022-12-01 $1,850,000 (21.3%) $3,328,993 (13.7%) 0.00 171
    2023-01-01 $1,872,500 (1.2%) $3,492,170 (8.2%) 0.00 149
    2023-02-01 $1,862,500 (-13.3%) $3,373,573 (2.1%) 0.00 142
    2023-03-01 $1,651,250 (-48.4%) $3,156,104 (-15.5%) 0.00 145
    2023-04-01 $1,550,000 (-26.2%) $3,084,558 (-12.5%) 0.00 131
    2023-05-01 $1,022,500 (-32.9%) $2,790,614 (-23.4%) 0.00 119
    2023-06-01 $1,633,750 (-2.0%) $2,979,517 (-12.3%) 0.00 157
    2023-07-01 $1,962,500 (24.8%) $3,088,402 (-0.9%) 0.00 203
    2023-08-01 $1,970,000 (46.5%) $3,277,402 (20.2%) 0.00 218
    2023-09-01 $1,972,500 (37.0%) $3,351,028 (20.0%) 0.00 212
    2023-10-01 $1,928,750 (31.0%) $3,347,207 (14.3%) 0.00 197
    2023-11-01 $1,941,250 (22.6%) $3,264,208 (8.5%) 0.00 170
    2023-12-01 $2,075,000 (12.2%) $3,255,784 (-2.2%) 0.00 174
    2024-01-01 $2,072,500 (10.7%) $3,269,515 (-6.4%) 0.00 171
    2024-02-01 $1,875,000 (0.7%) $3,129,587 (-7.2%) 0.00 166
    2024-03-01 $1,350,000 (-18.2%) $2,662,440 (-15.6%) 0.00 178
    Hailey's median listing price for 2024-03-01 was $1,350,000, a difference of $-301,250 (-18.2%) versus the prior year and $-525,000 versus the prior month.

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

    Hailey's average listing price for 2024-03-01 was $2,662,440, a difference of $-493,664 (-15.6%) versus the prior year and $-467,147 versus the prior month.

    For the 2024-03-01 period, Hailey had 178 MLS listings, a difference of 12 listings (7%) versus the prior month and 33 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hailey (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,584 sqft
    2018-02-01 0 days 2,590 sqft
    2018-03-01 0 days 2,586 sqft
    2018-04-01 0 days 2,571 sqft
    2018-05-01 0 days 2,462 sqft
    2018-06-01 0 days 2,457 sqft
    2018-07-01 0 days 2,471 sqft
    2018-08-01 0 days 2,495 sqft
    2018-09-01 0 days 2,490 sqft
    2018-10-01 0 days 2,504 sqft
    2018-11-01 0 days 2,469 sqft
    2018-12-01 0 days 2,477 sqft
    2019-01-01 0 days 2,348 sqft
    2019-02-01 0 days 2,471 sqft
    2019-03-01 0 days 2,576 sqft
    2019-04-01 0 days 2,705 sqft
    2019-05-01 0 days 2,508 sqft
    2019-06-01 0 days 2,487 sqft
    2019-07-01 0 days 2,507 sqft
    2019-08-01 0 days 2,522 sqft
    2019-09-01 0 days 2,544 sqft
    2019-10-01 0 days 2,604 sqft
    2019-11-01 0 days 2,657 sqft
    2019-12-01 0 days 2,696 sqft
    2020-01-01 0 days 2,752 sqft
    2020-02-01 0 days 2,784 sqft
    2020-03-01 0 days 2,524 sqft
    2020-04-01 0 days 2,496 sqft
    2020-05-01 0 days 2,437 sqft
    2020-06-01 0 days 2,407 sqft
    2020-07-01 0 days 2,469 sqft
    2020-08-01 0 days 2,483 sqft
    2020-09-01 0 days 2,594 sqft
    2020-10-01 0 days 2,855 sqft
    2020-11-01 0 days 2,939 sqft
    2020-12-01 0 days 2,980 sqft
    2021-01-01 0 days 3,064 sqft
    2021-02-01 0 days 3,098 sqft
    2021-03-01 0 days 2,970 sqft
    2021-04-01 0 days 2,658 sqft
    2021-05-01 0 days 2,454 sqft
    2021-06-01 0 days 2,508 sqft
    2021-07-01 0 days 2,652 sqft
    2021-08-01 0 days 2,503 sqft
    2021-09-01 0 days 2,529 sqft
    2021-10-01 0 days 2,282 sqft
    2021-11-01 0 days 2,314 sqft
    2021-12-01 0 days 2,507 sqft
    2022-01-01 0 days 2,552 sqft
    2022-02-01 0 days 2,693 sqft
    2022-03-01 0 days 2,956 sqft
    2022-04-01 0 days 2,693 sqft
    2022-05-01 0 days 2,730 sqft
    2022-06-01 0 days 2,708 sqft
    2022-07-01 0 days 2,510 sqft
    2022-08-01 0 days 2,201 sqft
    2022-09-01 0 days 2,232 sqft
    2022-10-01 0 days 2,324 sqft
    2022-11-01 0 days 2,551 sqft
    2022-12-01 0 days 2,724 sqft
    2023-01-01 0 days 2,759 sqft
    2023-02-01 0 days 2,719 sqft
    2023-03-01 0 days 2,554 sqft
    2023-04-01 0 days 2,514 sqft
    2023-05-01 0 days 2,041 sqft
    2023-06-01 0 days 2,445 sqft
    2023-07-01 0 days 2,596 sqft
    2023-08-01 0 days 2,712 sqft
    2023-09-01 0 days 2,682 sqft
    2023-10-01 0 days 2,722 sqft
    2023-11-01 0 days 2,556 sqft
    2023-12-01 0 days 2,700 sqft
    2024-01-01 0 days 2,741 sqft
    2024-02-01 0 days 2,308 sqft
    2024-03-01 0 days 2,078 sqft
    Hailey's median listing age (time on market) for 2024-03-01 was 0 days.

    Hailey's median square footage for active listings during the 2024-03-01 period was 2,078 sqft. One year prior, the average listing was 2,554 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).