Heber FHA Loan Rates, Closing Costs & Stats

Heber, UT

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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.

    Heber's 22 lenders originated 76 FHA loans during 2022. The total origination value was $35,110,000, with an average FHA loan value of $461,974.

    Heber FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Heber averaged -0.76% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

    Heber's average FHA mortgage closing costs are $11,773.

    The average rate for the prior week (2023-11-17) was 6.53% and one month ago for the week of 2023-10-20, the average rate was 6.54%.

    The average rate one year ago was 5.66%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.7%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    SECURITYNATIONAL MORTGAGE COMPANY 7 5.71% $21,302
    QUICKEN LOANS, LLC 4 4.03% $22,910
    GUILD MORTGAGE COMPANY 4 5.00% $23,480
    PANORAMA MORTGAGE GROUP, LLC 4 5.34% $20,114
    UNITED WHOLESALE MORTGAGE, LLC 3 4.96% $17,350
    LAKEVIEW LOAN SERVICING, LLC 2 4.31% $14,548
    BROKER SOLUTIONS, INC. 2 4.31% $16,127
    DHI MORTGAGE COMPANY, LTD. 2 3.31% $18,405
    FREEDOM MORTGAGE CORPORATION 2 5.25% $23,625
    CROSSCOUNTRY MORTGAGE, LLC 2 6.00% $23,098
    Sierra Pacific Mortgage Company, Inc. 2 4.69% $12,668
    INTERCAP LENDING INC. 2 5.25% $14,046
    VERITAS FUNDING, LLC 1 3.88% $17,179
    CMG MORTGAGE, INC. 1 4.63% $14,132
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.88% $14,791
    HOME POINT FINANCIAL CORPORATION 1 3.13% $24,280
    LOANDEPOT.COM, LLC 1 4.38% $13,669
    NBH Bank 1 4.50% $20,948
    PENNYMAC LOAN SERVICES, LLC 1 4.75% $12,877
    RANLIFE, INC. 1 4.38% $7,591
    S1L, Inc. 1 4.63% $30,588
    AXIA FINANCIAL, LLC 1 3.50% $10,404

    The top Heber FHA lender as defined by loan originations is SECURITYNATIONAL MORTGAGE COMPANY, with 7 FHA loans originated. Their average total fees are $21,302, which is $1,608 lower than the next largest lender, QUICKEN LOANS, LLC.

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

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

    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 $1,262,500 (12.3%) $2,065,426 (6.3%) 0.00 1,148
    2018-02-01 $1,292,000 (10.0%) $2,071,838 (5.0%) 0.00 1,178
    2018-03-01 $1,249,950 (5.8%) $2,029,554 (2.5%) 0.00 1,237
    2018-04-01 $1,112,000 (1.1%) $1,906,010 (-2.4%) 0.00 1,245
    2018-05-01 $981,250 (-1.5%) $1,821,814 (-3.8%) 0.00 1,281
    2018-06-01 $995,000 (4.8%) $1,783,775 (-2.0%) 0.00 1,378
    2018-07-01 $1,033,000 (8.5%) $1,789,972 (0.1%) 0.00 1,432
    2018-08-01 $975,000 (2.7%) $1,719,384 (-3.1%) 0.00 1,498
    2018-09-01 $969,000 (-1.6%) $1,710,871 (-6.3%) 0.00 1,509
    2018-10-01 $947,500 (-5.2%) $1,702,495 (-8.8%) 0.00 1,495
    2018-11-01 $1,002,750 (-8.1%) $1,764,490 (-7.7%) 0.00 1,447
    2018-12-01 $1,035,000 (-8.0%) $1,802,888 (-8.3%) 0.00 1,469
    2019-01-01 $1,087,500 (-13.9%) $1,843,900 (-10.7%) 0.00 1,470
    2019-02-01 $1,112,500 (-13.9%) $1,856,510 (-10.4%) 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 (-1.5%) $1,816,587 (-4.7%) 0.00 1,377
    2019-05-01 $1,000,000 (1.9%) $1,746,912 (-4.1%) 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 (6.1%) $1,805,938 (0.9%) 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 (8.4%) 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%) $2,625,896 (-1.9%) 0.00 951
    2023-06-01 $1,499,250 (-3.3%) $2,668,461 (1.2%) 0.00 1,064
    2023-07-01 $1,595,000 (6.3%) $2,753,232 (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
    Heber's median listing price for 2023-10-01 was $1,462,500, a difference of $-91,601 (-5.9%) versus the prior year and $-30,000 versus the prior month.

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

    Heber's average listing price for 2023-10-01 was $2,657,503, a difference of $-3,506 (-0.1%) versus the prior year and $-31,087 versus the prior month.

    For the 2023-10-01 period, Heber had 1,141 MLS listings, a difference of -45 listings (-4%) versus the prior month and 155 listings (16%) 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 2,808 sqft
    2018-03-01 0 days 2,850 sqft
    2018-04-01 0 days 2,861 sqft
    2018-05-01 0 days 2,961 sqft
    2018-06-01 0 days 3,000 sqft
    2018-07-01 0 days 3,017 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 2,805 sqft
    2023-06-01 0 days 2,990 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
    Heber's median listing age (time on market) for 2023-10-01 was 0 days.

    Heber's median square footage for active listings during the 2023-10-01 period was 3,006 sqft. One year prior, the average listing was 2,799 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).