Hanford FHA Loan Rates, Closing Costs & Stats
HANFORD-CORCORAN, CA
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 73 lenders originated 806 FHA loans during 2021. The total origination value was $193,480,000, with an average FHA loan value of $240,050.
Hanford FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Hanford
averaged
6.13%
for the week of 2023-01-27, compared to the national average (all FHA variants) of
6.186% for the same period.
Hanford's average FHA mortgage closing costs are $8,229.
The average rate for the prior week (2023-01-20) was
5.9% and
one month ago for the week of 2022-12-23, the
average rate was 6.29%.
The average rate one year ago was 3.68%.
For refis of the same type during the week of 2023-01-27, the average rate
was 5.59%.
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.
The top Hanford FHA lender as defined by loan originations is KINGS MORTGAGE SERVICES, INC., with
95 FHA loans originated. Their average total fees are
$9,081, which is $1,215
lower than the next largest lender,
COUNTRY CLUB MORTGAGE, INC..
The lowest fee Hanford FHA lenders (with over 10 loans originated) are
Lakeview Community Capital, LLC ($4,690), LAKEVIEW LOAN SERVICING, LLC ($4,985), PENNYMAC LOAN SERVICES, LLC ($5,068), FREEDOM MORTGAGE CORPORATION ($5,240) and Mr. Cooper ( Nationstar Mortgage ) ($5,291).
The lowest rate Hanford FHA lenders (with over 10 loans originated) are
CALIBER HOME LOANS, INC. (2.53%), QUICKEN LOANS, LLC (2.66%), UNITED WHOLESALE MORTGAGE, LLC (2.69%), FREEDOM MORTGAGE CORPORATION (2.75%) and HOMEBRIDGE FINANCIAL SERVICES, INC. (2.87%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Hanford (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 | $247,000 (2.9%) | $278,093 (4.9%) | 0.00 | 230 |
2018-02-01 | $249,725 (4.5%) | $279,119 (5.2%) | 0.00 | 222 |
2018-03-01 | $248,900 (6.1%) | $278,832 (6.1%) | 0.00 | 216 |
2018-04-01 | $251,250 (6.0%) | $282,186 (6.6%) | 0.00 | 246 |
2018-05-01 | $249,950 (7.5%) | $285,011 (10.2%) | 0.00 | 243 |
2018-06-01 | $245,000 (4.3%) | $291,579 (11.0%) | 0.00 | 238 |
2018-07-01 | $259,219 (10.3%) | $295,584 (11.4%) | 0.00 | 247 |
2018-08-01 | $265,000 (16.7%) | $305,949 (20.5%) | 0.00 | 254 |
2018-09-01 | $267,500 (13.8%) | $302,573 (14.9%) | 0.00 | 265 |
2018-10-01 | $261,400 (10.7%) | $289,780 (16.1%) | 0.00 | 305 |
2018-11-01 | $256,750 (7.4%) | $288,382 (15.3%) | 0.00 | 307 |
2018-12-01 | $259,000 (7.9%) | $293,425 (10.3%) | 0.00 | 272 |
2019-01-01 | $259,800 (5.2%) | $291,836 (4.9%) | 0.00 | 261 |
2019-02-01 | $258,125 (3.4%) | $279,220 (0.0%) | 0.00 | 251 |
2019-03-01 | $264,313 (6.2%) | $285,307 (2.3%) | 0.00 | 287 |
2019-04-01 | $269,763 (7.4%) | $290,559 (3.0%) | 0.00 | 326 |
2019-05-01 | $265,333 (6.2%) | $292,384 (2.6%) | 0.00 | 322 |
2019-06-01 | $262,988 (7.3%) | $296,683 (1.8%) | 0.00 | 309 |
2019-07-01 | $269,713 (4.1%) | $300,887 (1.8%) | 0.00 | 297 |
2019-08-01 | $263,609 (-0.5%) | $298,655 (-2.4%) | 0.00 | 274 |
2019-09-01 | $261,523 (-2.2%) | $294,337 (-2.7%) | 0.00 | 240 |
2019-10-01 | $259,450 (-0.8%) | $291,931 (0.7%) | 0.00 | 217 |
2019-11-01 | $260,000 (1.3%) | $300,015 (4.0%) | 0.00 | 212 |
2019-12-01 | $264,024 (1.9%) | $308,758 (5.2%) | 0.00 | 216 |
2020-01-01 | $258,125 (-0.6%) | $296,757 (1.7%) | 0.00 | 196 |
2020-02-01 | $249,900 (-3.2%) | $299,713 (7.3%) | 0.00 | 172 |
2020-03-01 | $256,175 (-3.1%) | $317,309 (11.2%) | 0.00 | 161 |
2020-04-01 | $259,700 (-3.7%) | $306,715 (5.6%) | 0.00 | 169 |
2020-05-01 | $259,750 (-2.1%) | $306,293 (4.8%) | 0.00 | 146 |
2020-06-01 | $258,650 (-1.7%) | $323,606 (9.1%) | 0.00 | 119 |
2020-07-01 | $265,150 (-1.7%) | $357,728 (18.9%) | 0.00 | 103 |
2020-08-01 | $275,000 (4.3%) | $400,979 (34.3%) | 0.00 | 80 |
2020-09-01 | $283,250 (8.3%) | $438,755 (49.1%) | 0.00 | 97 |
2020-10-01 | $282,500 (8.9%) | $436,396 (49.5%) | 0.00 | 113 |
2020-11-01 | $269,000 (3.5%) | $385,633 (28.5%) | 0.00 | 127 |
2020-12-01 | $273,950 (3.8%) | $408,708 (32.4%) | 0.00 | 97 |
2021-01-01 | $269,250 (4.3%) | $412,770 (39.1%) | 0.00 | 90 |
2021-02-01 | $289,675 (15.9%) | $434,014 (44.8%) | 0.00 | 86 |
2021-03-01 | $295,000 (15.2%) | $428,379 (35.0%) | 0.00 | 96 |
2021-04-01 | $284,975 (9.7%) | $1,395,366 (354.9%) | 0.00 | 89 |
2021-05-01 | $299,000 (15.1%) | $464,136 (51.5%) | 0.00 | 78 |
2021-06-01 | $297,950 (15.2%) | $475,982 (47.1%) | 0.00 | 79 |
2021-07-01 | $300,950 (13.5%) | $457,986 (28.0%) | 0.00 | 97 |
2021-08-01 | $301,725 (9.7%) | $397,541 (-0.9%) | 0.00 | 117 |
2021-09-01 | $311,494 (10.0%) | $399,000 (-9.1%) | 0.00 | 133 |
2021-10-01 | $302,713 (7.2%) | $393,564 (-9.8%) | 0.00 | 129 |
2021-11-01 | $302,713 (12.5%) | $381,391 (-1.1%) | 0.00 | 123 |
2021-12-01 | $307,750 (12.3%) | $376,911 (-7.8%) | 0.00 | 113 |
2022-01-01 | $308,000 (14.4%) | $386,625 (-6.3%) | 0.00 | 101 |
2022-02-01 | $319,925 (10.4%) | $390,398 (-10.1%) | 0.00 | 87 |
2022-03-01 | $327,000 (10.9%) | $407,001 (-5.0%) | 0.00 | 86 |
2022-04-01 | $334,900 (17.5%) | $398,623 (-71.4%) | 0.00 | 99 |
2022-05-01 | $375,750 (25.7%) | $413,849 (-10.8%) | 0.00 | 123 |
2022-06-01 | $372,500 (25.0%) | $413,674 (-13.1%) | 0.00 | 148 |
2022-07-01 | $376,400 (25.1%) | $409,540 (-10.6%) | 0.00 | 169 |
2022-08-01 | $375,000 (24.3%) | $402,992 (1.4%) | 0.00 | 189 |
2022-09-01 | $381,100 (22.4%) | $405,035 (1.5%) | 0.00 | 187 |
2022-10-01 | $389,999 (28.8%) | $426,966 (8.5%) | 0.00 | 202 |
2022-11-01 | $376,250 (24.3%) | $400,858 (5.1%) | 0.00 | 228 |
2022-12-01 | $375,000 (21.9%) | $396,305 (5.2%) | 0.00 | 203 |
Hanford's median listing price comes in at 0% of the national average.
Hanford's average listing price for 2022-12-01 was $396,305, a difference of $19,394 (5.2%) versus the prior year and $-4,553 versus the prior month.
For the 2022-12-01 period, Hanford had 203 MLS listings, a difference of -25 listings (-11%) versus the prior month and 90 listings (80%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Hanford (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,686 sqft |
2018-02-01 | 0 days | 1,699 sqft |
2018-03-01 | 0 days | 1,687 sqft |
2018-04-01 | 0 days | 1,715 sqft |
2018-05-01 | 0 days | 1,712 sqft |
2018-06-01 | 0 days | 1,711 sqft |
2018-07-01 | 0 days | 1,728 sqft |
2018-08-01 | 0 days | 1,786 sqft |
2018-09-01 | 0 days | 1,717 sqft |
2018-10-01 | 0 days | 1,687 sqft |
2018-11-01 | 0 days | 1,674 sqft |
2018-12-01 | 0 days | 1,710 sqft |
2019-01-01 | 0 days | 1,693 sqft |
2019-02-01 | 0 days | 1,708 sqft |
2019-03-01 | 0 days | 1,743 sqft |
2019-04-01 | 0 days | 1,793 sqft |
2019-05-01 | 0 days | 1,763 sqft |
2019-06-01 | 0 days | 1,748 sqft |
2019-07-01 | 0 days | 1,806 sqft |
2019-08-01 | 0 days | 1,774 sqft |
2019-09-01 | 0 days | 1,727 sqft |
2019-10-01 | 0 days | 1,684 sqft |
2019-11-01 | 0 days | 1,651 sqft |
2019-12-01 | 0 days | 1,700 sqft |
2020-01-01 | 0 days | 1,661 sqft |
2020-02-01 | 0 days | 1,574 sqft |
2020-03-01 | 0 days | 1,677 sqft |
2020-04-01 | 0 days | 1,626 sqft |
2020-05-01 | 0 days | 1,675 sqft |
2020-06-01 | 0 days | 1,669 sqft |
2020-07-01 | 0 days | 1,701 sqft |
2020-08-01 | 0 days | 1,638 sqft |
2020-09-01 | 0 days | 1,650 sqft |
2020-10-01 | 0 days | 1,753 sqft |
2020-11-01 | 0 days | 1,700 sqft |
2020-12-01 | 0 days | 1,733 sqft |
2021-01-01 | 0 days | 1,685 sqft |
2021-02-01 | 0 days | 1,781 sqft |
2021-03-01 | 0 days | 1,798 sqft |
2021-04-01 | 0 days | 1,702 sqft |
2021-05-01 | 0 days | 1,744 sqft |
2021-06-01 | 0 days | 1,731 sqft |
2021-07-01 | 0 days | 1,671 sqft |
2021-08-01 | 0 days | 1,648 sqft |
2021-09-01 | 0 days | 1,645 sqft |
2021-10-01 | 0 days | 1,624 sqft |
2021-11-01 | 0 days | 1,602 sqft |
2021-12-01 | 0 days | 1,582 sqft |
2022-01-01 | 0 days | 1,559 sqft |
2022-02-01 | 0 days | 1,573 sqft |
2022-03-01 | 0 days | 1,565 sqft |
2022-04-01 | 0 days | 1,539 sqft |
2022-05-01 | 0 days | 1,637 sqft |
2022-06-01 | 0 days | 1,658 sqft |
2022-07-01 | 0 days | 1,653 sqft |
2022-08-01 | 0 days | 1,701 sqft |
2022-09-01 | 0 days | 1,706 sqft |
2022-10-01 | 0 days | 1,768 sqft |
2022-11-01 | 0 days | 1,658 sqft |
2022-12-01 | 0 days | 1,658 sqft |
Hanford's median square footage for active listings during the 2022-12-01 period was 1,658 sqft. One year prior, the average listing was 1,582 sqft.