Hilo FHA Loan Rates, Closing Costs & Stats
Hilo, HI
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.
Hilo's 43 lenders originated 189 FHA loans during 2023. The total origination value was $66,205,000, with an average FHA loan value of $350,291.
Hilo FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Hilo
averaged
5.72%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Hilo's average FHA mortgage closing costs are $10,832.
The average rate for the prior week (2024-09-27) was
6.01% and
one month ago for the week of 2024-08-30, the
average rate was 6.17%.
The average rate one year ago was 7.21%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.55%.
Hilo 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 Hilo level.
The top Hilo FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
28 FHA loans originated. Their average total fees are
$15,467, which is $2,451
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Hilo FHA lenders (with over 10 loans originated) are
Nations Lending Corporation ($10,574), UNITED WHOLESALE MORTGAGE, LLC ($15,467), V.I.P. MORTGAGE, INC. ($16,028), QUICKEN LOANS, LLC ($17,918) and .
The lowest rate Hilo FHA lenders (with over 10 loans originated) are
Nations Lending Corporation (6.04%), UNITED WHOLESALE MORTGAGE, LLC (6.10%), QUICKEN LOANS, LLC (6.11%), V.I.P. MORTGAGE, INC. (6.83%) and .
Hilo FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
HILO, HI | HAWAII | 2022 | $477,250 | $610,950 | $738,500 | $917,800 |
HILO, HI | HAWAII | 2023 | $517,500 | $662,500 | $800,800 | $995,200 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Hilo (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 | $499,500 (0.1%) | $1,027,693 (3.5%) | 1.85 | 1,446 |
2018-02-01 | $499,000 (0.2%) | $1,021,937 (4.8%) | 1.81 | 1,477 |
2018-03-01 | $499,000 (1.7%) | $1,027,015 (7.6%) | 1.75 | 1,398 |
2018-04-01 | $499,000 (1.4%) | $999,257 (1.5%) | 1.69 | 1,357 |
2018-05-01 | $499,000 (5.2%) | $1,015,049 (1.9%) | 1.67 | 1,317 |
2018-06-01 | $499,000 (5.8%) | $1,017,797 (3.3%) | 1.66 | 1,352 |
2018-07-01 | $499,350 (4.1%) | $1,016,596 (3.0%) | 1.67 | 1,361 |
2018-08-01 | $499,000 (2.0%) | $1,011,483 (-1.6%) | 1.67 | 1,374 |
2018-09-01 | $479,000 (-1.2%) | $986,136 (-3.2%) | 1.61 | 1,366 |
2018-10-01 | $459,375 (-3.6%) | $940,464 (-4.3%) | 1.56 | 1,385 |
2018-11-01 | $452,500 (-4.1%) | $914,093 (-4.8%) | 1.53 | 1,458 |
2018-12-01 | $469,900 (-3.9%) | $971,167 (-0.2%) | 1.62 | 1,502 |
2019-01-01 | $484,000 (-3.1%) | $982,233 (-4.4%) | 1.67 | 1,587 |
2019-02-01 | $484,500 (-2.9%) | $1,010,645 (-1.1%) | 1.64 | 1,616 |
2019-03-01 | $480,857 (-3.6%) | $1,013,424 (-1.3%) | 1.57 | 1,588 |
2019-04-01 | $469,750 (-5.9%) | $1,012,014 (1.3%) | 1.49 | 1,573 |
2019-05-01 | $467,375 (-6.3%) | $1,018,600 (0.4%) | 1.46 | 1,537 |
2019-06-01 | $449,900 (-9.8%) | $1,007,027 (-1.1%) | 1.41 | 1,514 |
2019-07-01 | $449,450 (-10.0%) | $993,279 (-2.3%) | 1.41 | 1,481 |
2019-08-01 | $443,545 (-11.1%) | $1,017,687 (0.6%) | 1.40 | 1,465 |
2019-09-01 | $435,364 (-9.1%) | $1,015,669 (3.0%) | 1.39 | 1,438 |
2019-10-01 | $432,409 (-5.9%) | $1,022,247 (8.7%) | 1.40 | 1,418 |
2019-11-01 | $439,250 (-2.9%) | $1,043,382 (14.1%) | 1.44 | 1,444 |
2019-12-01 | $429,000 (-8.7%) | $1,035,821 (6.7%) | 1.43 | 1,443 |
2020-01-01 | $444,450 (-8.2%) | $1,065,904 (8.5%) | 1.49 | 1,397 |
2020-02-01 | $447,000 (-7.7%) | $1,086,716 (7.5%) | 1.46 | 1,368 |
2020-03-01 | $430,950 (-10.4%) | $1,065,382 (5.1%) | 1.35 | 1,380 |
2020-04-01 | $419,675 (-10.7%) | $994,660 (-1.7%) | 1.31 | 1,318 |
2020-05-01 | $449,000 (-3.9%) | $1,021,978 (0.3%) | 1.36 | 1,297 |
2020-06-01 | $461,500 (2.6%) | $1,044,978 (3.8%) | 1.36 | 1,271 |
2020-07-01 | $458,500 (2.0%) | $1,095,762 (10.3%) | 1.33 | 1,171 |
2020-08-01 | $449,900 (1.4%) | $1,120,367 (10.1%) | 1.29 | 1,122 |
2020-09-01 | $491,125 (12.8%) | $1,215,921 (19.7%) | 1.41 | 1,028 |
2020-10-01 | $499,000 (15.4%) | $1,294,728 (26.7%) | 1.43 | 1,002 |
2020-11-01 | $499,000 (13.6%) | $1,283,744 (23.0%) | 1.46 | 956 |
2020-12-01 | $499,000 (16.3%) | $1,330,888 (28.5%) | 1.48 | 910 |
2021-01-01 | $499,000 (12.3%) | $1,325,019 (24.3%) | 1.49 | 832 |
2021-02-01 | $488,750 (9.3%) | $1,356,891 (24.9%) | 1.42 | 662 |
2021-03-01 | $490,000 (13.7%) | $1,453,456 (36.4%) | 1.39 | 557 |
2021-04-01 | $476,000 (13.4%) | $1,344,306 (35.2%) | 1.29 | 525 |
2021-05-01 | $540,000 (20.3%) | $1,232,227 (20.6%) | 1.43 | 464 |
2021-06-01 | $563,875 (22.2%) | $1,305,742 (25.0%) | 1.48 | 444 |
2021-07-01 | $549,500 (19.9%) | $1,297,349 (18.4%) | 1.45 | 411 |
2021-08-01 | $550,000 (22.3%) | $1,227,367 (9.6%) | 1.47 | 436 |
2021-09-01 | $577,500 (17.6%) | $1,163,722 (-4.3%) | 1.54 | 494 |
2021-10-01 | $549,000 (10.0%) | $1,226,055 (-5.3%) | 1.46 | 492 |
2021-11-01 | $525,000 (5.2%) | $1,368,781 (6.6%) | 1.40 | 487 |
2021-12-01 | $538,000 (7.8%) | $1,335,776 (0.4%) | 1.46 | 468 |
2022-01-01 | $527,000 (5.6%) | $1,485,071 (12.1%) | 1.42 | 453 |
2022-02-01 | $517,500 (5.9%) | $1,444,549 (6.5%) | 1.35 | 453 |
2022-03-01 | $512,875 (4.7%) | $1,418,551 (-2.4%) | 1.28 | 455 |
2022-04-01 | $515,000 (8.2%) | $1,370,457 (2.0%) | 1.23 | 444 |
2022-05-01 | $564,500 (4.5%) | $1,336,610 (8.5%) | 1.29 | 497 |
2022-06-01 | $627,000 (11.2%) | $1,277,921 (-2.1%) | 1.40 | 571 |
2022-07-01 | $649,000 (18.1%) | $1,225,441 (-5.5%) | 1.46 | 684 |
2022-08-01 | $640,750 (16.5%) | $1,217,395 (-0.8%) | 1.48 | 702 |
2022-09-01 | $625,000 (8.2%) | $1,189,718 (2.2%) | 1.46 | 680 |
2022-10-01 | $599,950 (9.3%) | $1,177,805 (-3.9%) | 1.41 | 727 |
2022-11-01 | $605,500 (15.3%) | $1,160,231 (-15.2%) | 1.46 | 758 |
2022-12-01 | $599,000 (11.3%) | $1,162,843 (-13.0%) | 1.48 | 778 |
2023-01-01 | $630,000 (19.5%) | $1,329,581 (-10.5%) | 1.56 | 750 |
2023-02-01 | $599,250 (15.8%) | $1,305,048 (-9.7%) | 1.45 | 747 |
2023-03-01 | $628,000 (22.5%) | $1,388,714 (-2.1%) | 1.48 | 707 |
2023-04-01 | $645,000 (25.2%) | $1,409,083 (2.8%) | 1.50 | 661 |
2023-05-01 | $616,972 (9.3%) | $1,377,894 (3.1%) | 1.40 | 638 |
2023-06-01 | $610,625 (-2.6%) | $1,424,037 (11.4%) | 1.37 | 658 |
2023-07-01 | $598,000 (-7.9%) | $1,355,545 (10.6%) | 1.36 | 690 |
2023-08-01 | $583,250 (-9.0%) | $1,363,697 (12.0%) | 1.34 | 677 |
2023-09-01 | $595,000 (-4.8%) | $1,369,956 (15.2%) | 1.39 | 693 |
2023-10-01 | $620,000 (3.3%) | $1,390,206 (18.0%) | 1.46 | 717 |
2023-11-01 | $646,925 (6.8%) | $1,400,273 (20.7%) | 1.54 | 780 |
2023-12-01 | $645,000 (7.7%) | $1,410,416 (21.3%) | 1.57 | 818 |
2024-01-01 | $645,250 (2.4%) | $1,329,859 (0.0%) | 1.58 | 846 |
2024-02-01 | $633,250 (5.7%) | $1,297,565 (-0.6%) | 1.52 | 880 |
2024-03-01 | $645,000 (2.7%) | $1,346,637 (-3.0%) | 1.52 | 868 |
2024-04-01 | $647,750 (0.4%) | $1,444,540 (2.5%) | 1.51 | 886 |
2024-05-01 | $651,750 (5.6%) | $1,418,292 (2.9%) | 1.47 | 884 |
2024-06-01 | $641,000 (5.0%) | $1,432,869 (0.6%) | 1.44 | 942 |
2024-07-01 | $633,500 (5.9%) | $1,405,452 (3.7%) | 1.45 | 1,015 |
2024-08-01 | $650,000 (11.4%) | $1,399,803 (2.7%) | 1.51 | 1,044 |
2024-09-01 | $654,750 (10.0%) | $1,315,641 (-4.0%) | 0.00 | 1,031 |
Hilo's median listing price comes in at 0% of the national average.
Hilo's average listing price for 2024-09-01 was $1,315,641, a difference of $-54,315 (-4.0%) versus the prior year and $-84,162 versus the prior month.
For the 2024-09-01 period, Hilo had 1,031 MLS listings, a difference of -13 listings (-1%) versus the prior month and 338 listings (49%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Hilo (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 91 days | 1,565 sqft |
2018-02-01 | 88 days | 1,551 sqft |
2018-03-01 | 88 days | 1,543 sqft |
2018-04-01 | 87 days | 1,556 sqft |
2018-05-01 | 90 days | 1,549 sqft |
2018-06-01 | 91 days | 1,568 sqft |
2018-07-01 | 94 days | 1,578 sqft |
2018-08-01 | 94 days | 1,566 sqft |
2018-09-01 | 92 days | 1,564 sqft |
2018-10-01 | 93 days | 1,546 sqft |
2018-11-01 | 86 days | 1,551 sqft |
2018-12-01 | 85 days | 1,568 sqft |
2019-01-01 | 83 days | 1,573 sqft |
2019-02-01 | 82 days | 1,586 sqft |
2019-03-01 | 84 days | 1,587 sqft |
2019-04-01 | 86 days | 1,585 sqft |
2019-05-01 | 92 days | 1,584 sqft |
2019-06-01 | 94 days | 1,564 sqft |
2019-07-01 | 96 days | 1,559 sqft |
2019-08-01 | 101 days | 1,556 sqft |
2019-09-01 | 101 days | 1,545 sqft |
2019-10-01 | 101 days | 1,543 sqft |
2019-11-01 | 96 days | 1,540 sqft |
2019-12-01 | 96 days | 1,520 sqft |
2020-01-01 | 96 days | 1,515 sqft |
2020-02-01 | 93 days | 1,540 sqft |
2020-03-01 | 88 days | 1,505 sqft |
2020-04-01 | 90 days | 1,462 sqft |
2020-05-01 | 98 days | 1,488 sqft |
2020-06-01 | 105 days | 1,501 sqft |
2020-07-01 | 105 days | 1,530 sqft |
2020-08-01 | 84 days | 1,516 sqft |
2020-09-01 | 78 days | 1,507 sqft |
2020-10-01 | 78 days | 1,509 sqft |
2020-11-01 | 76 days | 1,471 sqft |
2020-12-01 | 75 days | 1,469 sqft |
2021-01-01 | 81 days | 1,486 sqft |
2021-02-01 | 82 days | 1,488 sqft |
2021-03-01 | 61 days | 1,515 sqft |
2021-04-01 | 52 days | 1,476 sqft |
2021-05-01 | 50 days | 1,524 sqft |
2021-06-01 | 48 days | 1,525 sqft |
2021-07-01 | 52 days | 1,496 sqft |
2021-08-01 | 46 days | 1,441 sqft |
2021-09-01 | 43 days | 1,500 sqft |
2021-10-01 | 47 days | 1,440 sqft |
2021-11-01 | 56 days | 1,450 sqft |
2021-12-01 | 56 days | 1,439 sqft |
2022-01-01 | 53 days | 1,451 sqft |
2022-02-01 | 52 days | 1,407 sqft |
2022-03-01 | 45 days | 1,390 sqft |
2022-04-01 | 46 days | 1,418 sqft |
2022-05-01 | 44 days | 1,417 sqft |
2022-06-01 | 47 days | 1,427 sqft |
2022-07-01 | 48 days | 1,461 sqft |
2022-08-01 | 58 days | 1,486 sqft |
2022-09-01 | 68 days | 1,459 sqft |
2022-10-01 | 71 days | 1,457 sqft |
2022-11-01 | 72 days | 1,462 sqft |
2022-12-01 | 76 days | 1,430 sqft |
2023-01-01 | 82 days | 1,457 sqft |
2023-02-01 | 80 days | 1,443 sqft |
2023-03-01 | 83 days | 1,452 sqft |
2023-04-01 | 78 days | 1,476 sqft |
2023-05-01 | 69 days | 1,452 sqft |
2023-06-01 | 70 days | 1,495 sqft |
2023-07-01 | 67 days | 1,440 sqft |
2023-08-01 | 76 days | 1,424 sqft |
2023-09-01 | 78 days | 1,439 sqft |
2023-10-01 | 71 days | 1,510 sqft |
2023-11-01 | 74 days | 1,508 sqft |
2023-12-01 | 75 days | 1,520 sqft |
2024-01-01 | 77 days | 1,500 sqft |
2024-02-01 | 74 days | 1,456 sqft |
2024-03-01 | 79 days | 1,448 sqft |
2024-04-01 | 78 days | 1,463 sqft |
2024-05-01 | 77 days | 1,500 sqft |
2024-06-01 | 75 days | 1,447 sqft |
2024-07-01 | 79 days | 1,443 sqft |
2024-08-01 | 83 days | 1,431 sqft |
2024-09-01 | 0 days | 1,419 sqft |
Hilo's median square footage for active listings during the 2024-09-01 period was 1,419 sqft. One year prior, the average listing was 1,439 sqft.