Hermiston FHA Loan Rates, Closing Costs & Stats

Hermiston-Pendleton, OR

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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.

    Hermiston's 59 lenders originated 428 FHA loans during 2024. The total origination value was $119,110,000, with an average FHA loan value of $278,294.

    Hermiston FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Hermiston averaged -0.16% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Hermiston's average FHA mortgage closing costs are $9,558.

    The average rate for the prior week (2025-06-27) was 6.53% and one month ago for the week of 2025-05-30, the average rate was 6.5%.

    The average rate one year ago was 6.73%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.37%.

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

    Hermiston 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 Hermiston level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 81 6.29% $13,079
    CMG MORTGAGE, INC. 39 6.45% $14,828
    AMERICAN PACIFIC MORTGAGE CORPORATION 37 6.40% $13,582
    CHURCHILL MORTGAGE CORPORATION 31 6.50% $13,330
    BAYSHORE MORTGAGE FUNDING, LLC 21 6.28% $12,895
    QUICKEN LOANS, LLC 16 6.26% $12,829
    AXIA FINANCIAL, LLC 15 6.33% $15,486
    LPMC, LLC 11 6.36% $10,517
    Banner Bank 11 5.80% $11,771
    UNITED WHOLESALE MORTGAGE, LLC 9 6.29% $14,076
    FREEDOM MORTGAGE CORPORATION 7 6.38% $13,428
    MOVEMENT MORTGAGE, LLC 7 6.79% $13,566
    U.S. Bank 7 6.93% $9,582
    Century Mortgage Company DBA Century Lending Company 6 6.25% $9,638
    Umpqua Bank 5 6.10% $13,565
    NATIONS DIRECT MORTGAGE, LLC 5 6.57% $12,388
    S1L, Inc. 5 6.28% $16,213
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.38% $10,721
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.72% $11,771
    PREMIER MORTGAGE RESOURCES, L.L.C. 3 6.96% $14,285
    PENNYMAC LOAN SERVICES, LLC 3 5.91% $9,928
    PACIFIC RESIDENTIAL MORTGAGE, LLC 3 5.96% $16,438
    Sierra Pacific Mortgage Company, Inc. 3 6.25% $12,213
    NEWREZ LLC 3 6.21% $12,868
    Flagstar Bank, FSB 2 6.27% $9,994
    AMERISAVE MORTGAGE CORPORATION 2 5.94% $21,649
    Carrington Mortgage Services, LLC 2 7.00% $12,517
    Cornerstone First Mortgage, Inc 2 6.38% $13,814
    1st Security Bank of Washington 2 5.25% $21,157
    LOANDEPOT.COM, LLC 2 6.38% $20,919
    Loan Simple, Inc. 2 7.13% $18,298
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.81% $17,292
    PLANET HOME LENDING, LLC 2 5.75% $17,466
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.81% $12,235
    UNION HOME MORTGAGE CORP. 2 7.63% $10,927
    VILLAGE CAPITAL MORTGAGE 1 5.25% $20,188
    HomeStreet Bank 1 5.63% $14,710
    Nations Lending Corporation 1 6.00% $17,279
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.75% $5,919
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 6.75% $18,217
    EVERETT FINANCIAL, INC. 1 6.50% $24,027
    Plains Commerce Bank 1 6.25% $12,661
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.38% $13,830
    Equity Prime Mortgage LLC 1 6.75% $15,473
    CROSSCOUNTRY MORTGAGE, LLC 1 5.99% $14,984
    CORNERSTONE HOME LENDING, INC. 1 5.63% $16,916
    RANLIFE, INC. 1 7.25% $7,309
    CARDINAL FINANCIAL 1 6.75% $14,711
    CANOPY MORTGAGE, LLC 1 5.75% $10,817
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $8,112
    SUMMIT MORTGAGE CORPORATION 1 7.63% $5,727
    SUN WEST MORTGAGE COMPANY, INC. 1 6.25% $22,855
    The Federal Savings Bank 1 6.75% $13,807
    The Loan Store, Inc. 1 6.49% $10,456
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.38% $8,353
    LOANPAL, LLC 1 6.38% $11,455
    MORTGAGE EXPRESS, LLC 1 6.63% $10,844
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $7,952
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $17,681

    The top Hermiston FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 81 FHA loans originated. Their average total fees are $13,079, which is $1,750 lower than the next largest lender, CMG MORTGAGE, INC..

    The lowest fee Hermiston FHA lenders (with over 10 loans originated) are LPMC, LLC ($10,517), Banner Bank ($11,771), QUICKEN LOANS, LLC ($12,829), BAYSHORE MORTGAGE FUNDING, LLC ($12,895) and GUILD MORTGAGE COMPANY ($13,079).

    The lowest rate Hermiston FHA lenders (with over 10 loans originated) are Banner Bank (5.80%), QUICKEN LOANS, LLC (6.26%), BAYSHORE MORTGAGE FUNDING, LLC (6.28%), GUILD MORTGAGE COMPANY (6.29%) and AXIA FINANCIAL, LLC (6.33%).

    Hermiston FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    HERMISTON-PENDLETON, OR MORROW 2022 $420,680 $538,650 $651,050 $809,150
    HERMISTON-PENDLETON, OR UMATILLA 2022 $420,680 $538,650 $651,050 $809,150
    HERMISTON-PENDLETON, OR MORROW 2023 $472,030 $604,400 $730,525 $907,900
    HERMISTON-PENDLETON, OR UMATILLA 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).