Hanford FHA Loan Rates, Closing Costs & Stats

HANFORD-CORCORAN, CA

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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.

    Hanford's 70 lenders originated 599 FHA loans during 2024. The total origination value was $202,995,000, with an average FHA loan value of $338,890.

    Hanford FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Hanford averaged 0.09% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Hanford's average FHA mortgage closing costs are $10,185.

    The average rate for the prior week (2025-06-27) was 6.27% and one month ago for the week of 2025-05-30, the average rate was 6.44%.

    The average rate one year ago was 6.47%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.64%.

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

    Hanford 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 Hanford level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 70 6.20% $14,017
    ALAMEDA MORTGAGE CORPORATION 60 6.34% $17,939
    EAGLE HOME MORTGAGE, LLC 50 5.84% $16,835
    Golden Empire Mortgage, Inc. 44 6.15% $15,806
    Century Mortgage Company DBA Century Lending Company 33 6.45% $14,869
    AMERICAN PACIFIC MORTGAGE CORPORATION 25 6.46% $13,834
    QUICKEN LOANS, LLC 23 6.25% $12,572
    INSPIRE HOME LOANS INC. 22 5.06% $11,573
    Commerce Home Mortgage, Inc. 21 6.43% $13,310
    PENNYMAC LOAN SERVICES, LLC 16 6.18% $10,482
    FREEDOM MORTGAGE CORPORATION 12 6.55% $13,275
    OCMBC, INC. 10 6.45% $14,146
    DHI MORTGAGE COMPANY, LTD. 10 4.90% $9,818
    Sierra Pacific Mortgage Company, Inc. 7 6.91% $15,441
    PLAZA HOME MORTGAGE, INC. 7 6.95% $12,638
    LOANDEPOT.COM, LLC 6 6.46% $13,821
    BROKER SOLUTIONS, INC. 6 6.54% $11,522
    Equity Prime Mortgage LLC 5 7.30% $16,835
    LOANPAL, LLC 5 5.82% $13,740
    CROSSCOUNTRY MORTGAGE, LLC 5 5.80% $15,775
    NEWREZ LLC 5 6.18% $12,467
    The Loan Store, Inc. 5 5.92% $13,145
    NATIONS DIRECT MORTGAGE, LLC 5 5.90% $13,441
    Performance Financial, Inc. 4 6.44% $11,351
    SUN WEST MORTGAGE COMPANY, INC. 4 6.25% $15,212
    Paramount Residential Mortgage Group, Inc. 4 6.78% $11,027
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.46% $23,599
    LAKEVIEW LOAN SERVICING, LLC 3 6.21% $9,681
    THE GOLDEN 1 3 5.71% $11,518
    COASTAL FUNDING SLC, INC. 3 6.67% $10,719
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.38% $12,243
    MLD MORTGAGE INC. 2 6.38% $10,894
    AMERICAN FINANCIAL NETWORK, INC. 2 5.88% $12,344
    Bank of America 2 5.50% $4,141
    City Lending Inc. 2 7.75% $16,154
    CLM MORTGAGE, INC 2 5.75% $11,422
    CMG MORTGAGE, INC. 2 6.25% $16,911
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.63% $8,652
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 6.50% $16,937
    JMAC LENDING, INC. 2 7.13% $9,668
    ML Mortgage Corp. 2 6.88% $12,392
    Pacific Lending LLC 2 6.63% $15,209
    MID AMERICA MORTGAGE, INC. 1 6.88% $6,911
    AHL FUNDING 1 6.25% $14,944
    AmeriHome Mortgage Company, LLC 1 6.63% $5,579
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $16,613
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $6,703
    M&T Bank 1 5.25% $8,424
    JPMorgan Chase Bank 1 7.13% $8,084
    GUILD MORTGAGE COMPANY 1 4.50% $2,325
    NEW WAVE LENDING GROUP INC 1 5.88% $14,086
    OCEANSIDE MORTGAGE COMPANY 1 6.00% $4,246
    GUARANTEED RATE, INC. 1 6.63% $9,806
    ALTITUDE FINANCIAL CORPORATION 1 6.63% $10,219
    GUARANTEED RATE AFFINITY, LLC 1 6.75% $8,042
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.63% $11,453
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $11,684
    EVERETT FINANCIAL, INC. 1 7.63% $15,017
    Plains Commerce Bank 1 6.50% $12,040
    ENVOY MORTGAGE, LTD 1 7.63% $14,470
    CASTLE & COOKE MORTGAGE, LLC 1 6.25% $10,700
    Carrington Mortgage Services, LLC 1 5.63% $15,982
    RESIDENTIAL BANCORP 1 5.99% $20,916
    CALCON MUTUAL MORTGAGE LLC 1 5.63% $21,520
    SUMMIT FUNDING, INC. 1 6.75% $20,474
    BAY-VALLEY MORTGAGE GROUP 1 5.75% $18,008
    The Dart Bank 1 5.75% $10,245
    AMERISAVE MORTGAGE CORPORATION 1 6.63% $18,572
    LAND HOME FINANCIAL SERVICES, INC. 1 6.75% $20,584
    MASON MCDUFFIE MORTGAGE CORPORATION 1 5.88% $22,290

    The top Hanford FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 70 FHA loans originated. Their average total fees are $14,017, which is $3,922 lower than the next largest lender, ALAMEDA MORTGAGE CORPORATION.

    The lowest fee Hanford FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($9,818), PENNYMAC LOAN SERVICES, LLC ($10,482), INSPIRE HOME LOANS INC. ($11,573), QUICKEN LOANS, LLC ($12,572) and FREEDOM MORTGAGE CORPORATION ($13,275).

    The lowest rate Hanford FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.90%), INSPIRE HOME LOANS INC. (5.06%), EAGLE HOME MORTGAGE, LLC (5.84%), Golden Empire Mortgage, Inc. (6.15%) and PENNYMAC LOAN SERVICES, LLC (6.18%).

    Hanford FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    HANFORD-CORCORAN, CA KINGS 2022 $420,680 $538,650 $651,050 $809,150
    HANFORD-CORCORAN, CA KINGS 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).