Heber FHA Loan Rates, Closing Costs & Stats

Heber, UT

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.

Heber's 27 lenders originated 79 FHA loans during 2023. The total origination value was $43,335,000, with an average FHA loan value of $548,544.

Heber FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Heber averaged 6.71% for the week of 2024-06-07, compared to the national average (all FHA variants) of 6.692% for the same period.

Heber's average FHA mortgage closing costs are $12,664.

The average rate for the prior week (2024-05-31) was 6.8% and one month ago for the week of 2024-05-03, the average rate was 6.7%.

The average rate one year ago was 6.36%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.86%.

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

Heber 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 Heber level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 10 6.39% $21,180
INTERCAP LENDING INC. 6 7.00% $25,750
QUICKEN LOANS, LLC 6 6.41% $14,611
CROSSCOUNTRY MORTGAGE, LLC 5 6.75% $20,558
SECURITYNATIONAL MORTGAGE COMPANY 4 7.00% $24,631
GUILD MORTGAGE COMPANY 4 6.41% $24,091
Century Mortgage Company DBA Century Lending Company 3 5.71% $25,898
EAGLE HOME MORTGAGE, LLC 2 5.19% $15,399
GUARANTEED RATE AFFINITY, LLC 2 6.31% $22,322
The Federal Savings Bank 2 7.50% $17,395
BROKER SOLUTIONS, INC. 2 6.50% $21,579
Paramount Residential Mortgage Group, Inc. 1 6.75% $10,006
PENNYMAC LOAN SERVICES, LLC 1 6.13% $25,707
Plains Commerce Bank 1 5.25% $30,978
SECURITY HOME MORTGAGE, LLC. 1 6.50% $47,673
American Mortgage & Equity Consultants, Inc. 1 6.75% $17,985
VAN DYK MORTGAGE CORPORATION 1 7.63% $15,269
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $13,694
AXIA FINANCIAL, LLC 1 5.75% $19,792
CANOPY MORTGAGE, LLC 1 5.50% $23,881
CARDINAL FINANCIAL 1 6.75% $15,269
Equity Prime Mortgage LLC 1 5.88% $17,882
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $18,525
FIRST COLONY MORTGAGE CORPORATION 1 5.75% $18,426
MY MOVE MORTGAGE, LLC 1 6.38% $20,196
NEWREZ LLC 1 6.25% $21,925
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.75% $20,459

The top Heber FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 10 FHA loans originated. Their average total fees are $21,180, which is $4,571 lower than the next largest lender, INTERCAP LENDING INC..

The lowest fee Heber FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($21,180), .

The lowest rate Heber FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.39%), .

Heber FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
HEBER, UT SUMMIT 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
HEBER, UT WASATCH 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
HEBER, UT SUMMIT 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
HEBER, UT WASATCH 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Heber (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 $1,265,000 (12.5%) $2,067,227 (6.3%) 0.00 1,147
2018-02-01 $1,292,000 (9.8%) $2,073,586 (5.0%) 0.00 1,177
2018-03-01 $1,250,000 (5.5%) $2,031,179 (2.5%) 0.00 1,236
2018-04-01 $1,117,000 (1.6%) $1,907,535 (-2.4%) 0.00 1,244
2018-05-01 $983,750 (-1.3%) $1,822,529 (-3.9%) 0.00 1,281
2018-06-01 $995,000 (4.8%) $1,783,775 (-2.1%) 0.00 1,378
2018-07-01 $1,039,750 (8.9%) $1,791,162 (0.1%) 0.00 1,431
2018-08-01 $975,000 (2.7%) $1,720,479 (-3.1%) 0.00 1,497
2018-09-01 $969,250 (-1.9%) $1,711,937 (-6.3%) 0.00 1,508
2018-10-01 $947,500 (-5.2%) $1,702,495 (-8.9%) 0.00 1,495
2018-11-01 $1,002,750 (-8.3%) $1,764,490 (-7.8%) 0.00 1,447
2018-12-01 $1,035,000 (-8.0%) $1,802,888 (-8.4%) 0.00 1,469
2019-01-01 $1,087,500 (-14.0%) $1,843,900 (-10.8%) 0.00 1,470
2019-02-01 $1,112,500 (-13.9%) $1,856,510 (-10.5%) 0.00 1,454
2019-03-01 $1,112,143 (-11.0%) $1,841,424 (-9.3%) 0.00 1,428
2019-04-01 $1,095,000 (-2.0%) $1,816,587 (-4.8%) 0.00 1,377
2019-05-01 $1,000,000 (1.7%) $1,746,912 (-4.2%) 0.00 1,410
2019-06-01 $1,026,500 (3.2%) $1,751,994 (-1.8%) 0.00 1,507
2019-07-01 $1,096,000 (5.4%) $1,805,938 (0.8%) 0.00 1,553
2019-08-01 $1,118,182 (14.7%) $1,831,694 (6.5%) 0.00 1,500
2019-09-01 $1,107,955 (14.3%) $1,854,400 (8.3%) 0.00 1,422
2019-10-01 $1,121,111 (18.3%) $1,874,391 (10.1%) 0.00 1,350
2019-11-01 $1,195,000 (19.2%) $1,953,854 (10.7%) 0.00 1,290
2019-12-01 $1,180,000 (14.0%) $1,990,304 (10.4%) 0.00 1,267
2020-01-01 $1,247,500 (14.7%) $2,058,286 (11.6%) 0.00 1,239
2020-02-01 $1,279,000 (15.0%) $2,109,702 (13.6%) 0.00 1,222
2020-03-01 $1,155,000 (3.9%) $2,029,973 (10.2%) 0.00 1,259
2020-04-01 $950,000 (-13.2%) $1,860,235 (2.4%) 0.00 1,245
2020-05-01 $924,900 (-7.5%) $1,767,392 (1.2%) 0.00 1,336
2020-06-01 $929,950 (-9.4%) $1,780,349 (1.6%) 0.00 1,396
2020-07-01 $973,500 (-11.2%) $1,879,623 (4.1%) 0.00 1,384
2020-08-01 $973,500 (-12.9%) $1,950,092 (6.5%) 0.00 1,232
2020-09-01 $973,750 (-12.1%) $2,055,203 (10.8%) 0.00 1,053
2020-10-01 $939,000 (-16.2%) $2,069,131 (10.4%) 0.00 897
2020-11-01 $995,112 (-16.7%) $2,210,992 (13.2%) 0.00 737
2020-12-01 $1,083,375 (-8.2%) $2,288,661 (15.0%) 0.00 671
2021-01-01 $1,250,000 (0.2%) $2,468,974 (20.0%) 0.00 610
2021-02-01 $1,312,500 (2.6%) $2,648,419 (25.5%) 0.00 533
2021-03-01 $1,350,000 (16.9%) $2,769,154 (36.4%) 0.00 476
2021-04-01 $1,367,500 (44.0%) $2,765,228 (48.7%) 0.00 468
2021-05-01 $1,299,000 (40.5%) $2,595,558 (46.9%) 0.00 508
2021-06-01 $1,290,000 (38.7%) $2,610,955 (46.7%) 0.00 547
2021-07-01 $1,300,000 (33.5%) $2,676,127 (42.4%) 0.00 556
2021-08-01 $1,299,500 (33.5%) $2,504,668 (28.4%) 0.00 564
2021-09-01 $1,303,750 (33.9%) $2,568,018 (25.0%) 0.00 525
2021-10-01 $1,499,999 (59.7%) $2,744,026 (32.6%) 0.00 468
2021-11-01 $1,737,500 (74.6%) $3,003,732 (35.9%) 0.00 379
2021-12-01 $1,842,500 (70.1%) $3,091,667 (35.1%) 0.00 350
2022-01-01 $1,770,000 (41.6%) $2,960,056 (19.9%) 0.00 327
2022-02-01 $1,759,750 (34.1%) $3,012,697 (13.8%) 0.00 311
2022-03-01 $1,797,000 (33.1%) $2,986,802 (7.9%) 0.00 364
2022-04-01 $1,785,500 (30.6%) $2,823,592 (2.1%) 0.00 401
2022-05-01 $1,617,000 (24.5%) $2,677,799 (3.2%) 0.00 544
2022-06-01 $1,550,000 (20.2%) $2,636,508 (1.0%) 0.00 767
2022-07-01 $1,499,999 (15.4%) $2,582,042 (-3.5%) 0.00 1,036
2022-08-01 $1,524,725 (17.3%) $2,607,981 (4.1%) 0.00 1,081
2022-09-01 $1,500,000 (15.1%) $2,644,821 (3.0%) 0.00 1,035
2022-10-01 $1,554,101 (3.6%) $2,661,009 (-3.0%) 0.00 986
2022-11-01 $1,596,500 (-8.1%) $2,837,871 (-5.5%) 0.00 960
2022-12-01 $1,616,045 (-12.3%) $3,008,787 (-2.7%) 0.00 888
2023-01-01 $1,788,250 (1.0%) $3,080,310 (4.1%) 0.00 860
2023-02-01 $1,697,225 (-3.6%) $3,075,387 (2.1%) 0.00 864
2023-03-01 $1,695,000 (-5.7%) $2,959,959 (-0.9%) 0.00 846
2023-04-01 $1,499,250 (-16.0%) $2,743,551 (-2.8%) 0.00 894
2023-05-01 $1,495,000 (-7.5%) $2,624,727 (-2.0%) 0.00 952
2023-06-01 $1,498,500 (-3.3%) $2,666,362 (1.1%) 0.00 1,065
2023-07-01 $1,595,000 (6.3%) $2,751,164 (6.6%) 0.00 1,220
2023-08-01 $1,541,250 (1.1%) $2,670,345 (2.4%) 0.00 1,225
2023-09-01 $1,492,500 (-0.5%) $2,688,590 (1.7%) 0.00 1,186
2023-10-01 $1,462,500 (-5.9%) $2,657,503 (-0.1%) 0.00 1,141
2023-11-01 $1,495,000 (-6.4%) $2,685,222 (-5.4%) 0.00 1,134
2023-12-01 $1,499,000 (-7.2%) $2,734,503 (-9.1%) 0.00 1,087
2024-01-01 $1,500,000 (-16.1%) $2,889,214 (-6.2%) 0.00 1,076
2024-02-01 $1,564,736 (-7.8%) $2,881,512 (-6.3%) 0.00 1,044
2024-03-01 $1,495,000 (-11.8%) $2,936,094 (-0.8%) 0.00 1,020
2024-04-01 $1,474,500 (-1.7%) $2,895,244 (5.5%) 0.00 1,004
2024-05-01 $1,450,000 (-3.0%) $2,775,882 (5.8%) 0.00 1,085
Heber's median listing price for 2024-05-01 was $1,450,000, a difference of $-45,000 (-3.0%) versus the prior year and $-24,500 versus the prior month.

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

Heber's average listing price for 2024-05-01 was $2,775,882, a difference of $151,155 (5.8%) versus the prior year and $-119,362 versus the prior month.

For the 2024-05-01 period, Heber had 1,085 MLS listings, a difference of 81 listings (8%) versus the prior month and 133 listings (14%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Heber (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,807 sqft
2018-02-01 0 days 2,807 sqft
2018-03-01 0 days 2,849 sqft
2018-04-01 0 days 2,859 sqft
2018-05-01 0 days 2,961 sqft
2018-06-01 0 days 3,000 sqft
2018-07-01 0 days 3,018 sqft
2018-08-01 0 days 2,983 sqft
2018-09-01 0 days 3,025 sqft
2018-10-01 0 days 3,033 sqft
2018-11-01 0 days 3,043 sqft
2018-12-01 0 days 2,850 sqft
2019-01-01 0 days 2,801 sqft
2019-02-01 0 days 2,746 sqft
2019-03-01 0 days 2,699 sqft
2019-04-01 0 days 2,732 sqft
2019-05-01 0 days 2,726 sqft
2019-06-01 0 days 2,857 sqft
2019-07-01 0 days 2,968 sqft
2019-08-01 0 days 3,012 sqft
2019-09-01 0 days 3,030 sqft
2019-10-01 0 days 3,050 sqft
2019-11-01 0 days 3,030 sqft
2019-12-01 0 days 2,958 sqft
2020-01-01 0 days 2,969 sqft
2020-02-01 0 days 2,904 sqft
2020-03-01 0 days 2,878 sqft
2020-04-01 0 days 2,751 sqft
2020-05-01 0 days 2,722 sqft
2020-06-01 0 days 2,710 sqft
2020-07-01 0 days 2,727 sqft
2020-08-01 0 days 2,716 sqft
2020-09-01 0 days 2,711 sqft
2020-10-01 0 days 2,630 sqft
2020-11-01 0 days 2,571 sqft
2020-12-01 0 days 2,556 sqft
2021-01-01 0 days 2,498 sqft
2021-02-01 0 days 2,450 sqft
2021-03-01 0 days 2,459 sqft
2021-04-01 0 days 2,539 sqft
2021-05-01 0 days 2,565 sqft
2021-06-01 0 days 2,750 sqft
2021-07-01 0 days 2,766 sqft
2021-08-01 0 days 2,727 sqft
2021-09-01 0 days 2,909 sqft
2021-10-01 0 days 3,197 sqft
2021-11-01 0 days 3,371 sqft
2021-12-01 0 days 3,267 sqft
2022-01-01 0 days 3,107 sqft
2022-02-01 0 days 2,722 sqft
2022-03-01 0 days 2,804 sqft
2022-04-01 0 days 2,791 sqft
2022-05-01 0 days 2,759 sqft
2022-06-01 0 days 2,814 sqft
2022-07-01 0 days 2,807 sqft
2022-08-01 0 days 2,761 sqft
2022-09-01 0 days 2,781 sqft
2022-10-01 0 days 2,799 sqft
2022-11-01 0 days 2,822 sqft
2022-12-01 0 days 2,942 sqft
2023-01-01 0 days 2,918 sqft
2023-02-01 0 days 2,818 sqft
2023-03-01 0 days 2,897 sqft
2023-04-01 0 days 2,807 sqft
2023-05-01 0 days 2,804 sqft
2023-06-01 0 days 2,985 sqft
2023-07-01 0 days 3,028 sqft
2023-08-01 0 days 3,038 sqft
2023-09-01 0 days 3,005 sqft
2023-10-01 0 days 3,006 sqft
2023-11-01 0 days 3,033 sqft
2023-12-01 0 days 3,024 sqft
2024-01-01 0 days 2,976 sqft
2024-02-01 0 days 2,900 sqft
2024-03-01 0 days 2,849 sqft
2024-04-01 0 days 2,820 sqft
2024-05-01 0 days 2,930 sqft
Heber's median listing age (time on market) for 2024-05-01 was 0 days.

Heber's median square footage for active listings during the 2024-05-01 period was 2,930 sqft. One year prior, the average listing was 2,804 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).