Hood River FHA Loan Rates, Closing Costs & Stats

Hood River, 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.

    Hood River's 9 lenders originated 17 FHA loans during 2023. The total origination value was $6,525,000, with an average FHA loan value of $383,824.

    Hood River FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Hood River averaged -0.16% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Hood River's average FHA mortgage closing costs are $10,960.

    The average rate for the prior week (2024-11-08) was 6.65% and one month ago for the week of 2024-10-11, the average rate was 6.25%.

    The average rate one year ago was 7.4%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.1%.

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

    Hood River 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 Hood River level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DIRECTORS MORTGAGE, INC. 3 6.54% $23,922
    UNITED WHOLESALE MORTGAGE, LLC 2 6.48% $11,953
    FREEDOM MORTGAGE CORPORATION 1 6.25% $13,830
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $13,376
    LOANDEPOT.COM, LLC 1 5.63% $23,715
    MORTGAGE EXPRESS, LLC 1 6.75% $14,206
    Sierra Pacific Mortgage Company, Inc. 1 6.63% $13,879
    HomeStreet Bank 1 6.63% $19,656
    CMG MORTGAGE, INC. 1 6.63% $12,009

    The top Hood River FHA lender as defined by loan originations is DIRECTORS MORTGAGE, INC., with 3 FHA loans originated. Their average total fees are $23,922, which is $11,969 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

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

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

    Hood River FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    HOOD RIVER, OR HOOD RIVER 2022 $599,150 $767,000 $927,150 $1,152,250
    HOOD RIVER, OR HOOD RIVER 2023 $671,600 $859,750 $1,039,250 $1,291,550

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Hood River (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 $426,000 (-31.3%) $541,692 (-28.8%) 0.00 63
    2018-02-01 $457,000 (-26.0%) $572,852 (-21.4%) 0.00 63
    2018-03-01 $538,500 (-12.2%) $618,197 (-12.2%) 0.00 59
    2018-04-01 $595,250 (-11.8%) $648,374 (-13.7%) 0.00 60
    2018-05-01 $593,500 (-19.1%) $662,968 (-11.5%) 0.00 65
    2018-06-01 $608,000 (-3.9%) $722,231 (2.0%) 0.00 68
    2018-07-01 $560,750 (-8.8%) $697,502 (5.3%) 0.00 75
    2018-08-01 $547,000 (-0.4%) $694,483 (11.7%) 0.00 81
    2018-09-01 $529,900 (0.2%) $696,851 (16.5%) 0.00 84
    2018-10-01 $529,900 (0.0%) $695,202 (16.9%) 0.00 84
    2018-11-01 $554,000 (5.3%) $708,341 (19.7%) 0.00 81
    2018-12-01 $539,000 (12.3%) $704,836 (22.5%) 0.00 67
    2019-01-01 $515,000 (20.9%) $677,391 (25.1%) 0.00 61
    2019-02-01 $516,000 (12.9%) $687,583 (20.0%) 0.00 58
    2019-03-01 $574,714 (6.7%) $722,162 (16.8%) 0.00 54
    2019-04-01 $599,964 (0.8%) $739,272 (14.0%) 0.00 54
    2019-05-01 $543,000 (-8.5%) $729,386 (10.0%) 0.00 59
    2019-06-01 $532,000 (-12.5%) $681,032 (-5.7%) 0.00 79
    2019-07-01 $522,000 (-6.9%) $679,960 (-2.5%) 0.00 103
    2019-08-01 $525,364 (-4.0%) $673,159 (-3.1%) 0.00 106
    2019-09-01 $538,659 (1.7%) $701,980 (0.7%) 0.00 103
    2019-10-01 $522,773 (-1.4%) $684,680 (-1.5%) 0.00 98
    2019-11-01 $509,000 (-8.1%) $666,231 (-5.9%) 0.00 74
    2019-12-01 $470,450 (-12.7%) $628,469 (-10.8%) 0.00 64
    2020-01-01 $459,675 (-10.7%) $635,225 (-6.2%) 0.00 52
    2020-02-01 $490,000 (-5.0%) $647,299 (-5.9%) 0.00 53
    2020-03-01 $524,500 (-8.7%) $682,214 (-5.5%) 0.00 60
    2020-04-01 $557,500 (-7.1%) $704,307 (-4.7%) 0.00 66
    2020-05-01 $569,000 (4.8%) $723,344 (-0.8%) 0.00 72
    2020-06-01 $594,000 (11.7%) $783,257 (15.0%) 0.00 71
    2020-07-01 $596,748 (14.3%) $815,361 (19.9%) 0.00 63
    2020-08-01 $615,000 (17.1%) $865,386 (28.6%) 0.00 50
    2020-09-01 $749,750 (39.2%) $975,149 (38.9%) 0.00 39
    2020-10-01 $839,000 (60.5%) $1,024,263 (49.6%) 0.00 40
    2020-11-01 $818,125 (60.7%) $1,039,222 (56.0%) 0.00 33
    2020-12-01 $867,125 (84.3%) $1,104,832 (75.8%) 0.00 24
    2021-01-01 $895,000 (94.7%) $1,119,596 (76.3%) 0.00 19
    2021-02-01 $829,500 (69.3%) $1,065,706 (64.6%) 0.00 18
    2021-03-01 $764,250 (45.7%) $1,037,118 (52.0%) 0.00 16
    2021-04-01 $796,000 (42.8%) $1,030,050 (46.3%) 0.00 17
    2021-05-01 $800,000 (40.6%) $978,711 (35.3%) 0.00 17
    2021-06-01 $782,500 (31.7%) $935,117 (19.4%) 0.00 27
    2021-07-01 $765,000 (28.2%) $957,900 (17.5%) 0.00 24
    2021-08-01 $783,500 (27.4%) $927,021 (7.1%) 0.00 31
    2021-09-01 $748,500 (-0.2%) $949,636 (-2.6%) 0.00 34
    2021-10-01 $750,000 (-10.6%) $1,078,289 (5.3%) 0.00 25
    2021-11-01 $753,000 (-8.0%) $1,045,940 (0.7%) 0.00 22
    2021-12-01 $750,750 (-13.4%) $1,065,921 (-3.5%) 0.00 24
    2022-01-01 $739,500 (-17.4%) $1,109,000 (-1.0%) 0.00 17
    2022-02-01 $711,125 (-14.3%) $989,667 (-7.1%) 0.00 17
    2022-03-01 $708,750 (-7.3%) $972,480 (-6.2%) 0.00 22
    2022-04-01 $949,000 (19.2%) $984,190 (-4.5%) 0.00 23
    2022-05-01 $818,500 (2.3%) $955,139 (-2.4%) 0.00 32
    2022-06-01 $841,750 (7.6%) $943,286 (0.9%) 0.00 34
    2022-07-01 $785,000 (2.6%) $913,588 (-4.6%) 0.00 37
    2022-08-01 $801,875 (2.4%) $917,381 (-1.0%) 0.00 36
    2022-09-01 $842,375 (12.5%) $922,898 (-2.8%) 0.00 36
    2022-10-01 $835,000 (11.3%) $920,468 (-14.6%) 0.00 30
    2022-11-01 $794,000 (5.4%) $927,874 (-11.3%) 0.00 27
    2022-12-01 $774,000 (3.1%) $970,521 (-9.0%) 0.00 24
    2023-01-01 $819,750 (10.9%) $963,028 (-13.2%) 0.00 22
    2023-02-01 $868,500 (22.1%) $1,151,584 (16.4%) 0.00 24
    2023-03-01 $855,000 (20.6%) $1,009,022 (3.8%) 0.00 30
    2023-04-01 $850,000 (-10.4%) $1,029,342 (4.6%) 0.00 31
    2023-05-01 $854,975 (4.5%) $942,591 (-1.3%) 0.00 36
    2023-06-01 $823,750 (-2.1%) $969,605 (2.8%) 0.00 42
    2023-07-01 $837,000 (6.6%) $1,028,907 (12.6%) 0.00 47
    2023-08-01 $843,500 (5.2%) $1,066,774 (16.3%) 0.00 52
    2023-09-01 $792,500 (-5.9%) $1,011,816 (9.6%) 0.00 48
    2023-10-01 $837,500 (0.3%) $1,093,858 (18.8%) 0.00 45
    2023-11-01 $850,000 (7.1%) $1,138,118 (22.7%) 0.00 41
    2023-12-01 $825,000 (6.6%) $1,120,177 (15.4%) 0.00 34
    2024-01-01 $825,000 (0.6%) $1,084,042 (12.6%) 0.00 30
    2024-02-01 $777,250 (-10.5%) $1,038,963 (-9.8%) 0.00 30
    2024-03-01 $769,500 (-10.0%) $1,048,424 (3.9%) 0.00 30
    2024-04-01 $817,500 (-3.8%) $1,039,963 (1.0%) 0.00 44
    2024-05-01 $762,225 (-10.9%) $991,342 (5.2%) 0.00 43
    2024-06-01 $750,000 (-9.0%) $976,332 (0.7%) 0.00 51
    2024-07-01 $776,938 (-7.2%) $986,531 (-4.1%) 0.00 57
    2024-08-01 $785,000 (-6.9%) $980,124 (-8.1%) 0.00 79
    2024-09-01 $791,000 (-0.2%) $1,040,187 (2.8%) 0.00 73
    2024-10-01 $770,000 (-8.1%) $1,047,326 (-4.3%) 0.00 61
    Hood River's median listing price for 2024-10-01 was $770,000, a difference of $-67,500 (-8.1%) versus the prior year and $-21,000 versus the prior month.

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

    Hood River's average listing price for 2024-10-01 was $1,047,326, a difference of $-46,532 (-4.3%) versus the prior year and $7,139 versus the prior month.

    For the 2024-10-01 period, Hood River had 61 MLS listings, a difference of -12 listings (-16%) versus the prior month and 16 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Hood River (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,007 sqft
    2018-02-01 0 days 2,005 sqft
    2018-03-01 0 days 2,041 sqft
    2018-04-01 0 days 2,110 sqft
    2018-05-01 0 days 2,058 sqft
    2018-06-01 0 days 2,092 sqft
    2018-07-01 0 days 2,050 sqft
    2018-08-01 0 days 2,067 sqft
    2018-09-01 0 days 2,050 sqft
    2018-10-01 0 days 2,096 sqft
    2018-11-01 0 days 2,139 sqft
    2018-12-01 0 days 2,060 sqft
    2019-01-01 0 days 1,960 sqft
    2019-02-01 0 days 1,977 sqft
    2019-03-01 0 days 2,084 sqft
    2019-04-01 0 days 2,052 sqft
    2019-05-01 0 days 2,128 sqft
    2019-06-01 0 days 1,918 sqft
    2019-07-01 0 days 1,824 sqft
    2019-08-01 0 days 1,868 sqft
    2019-09-01 0 days 1,969 sqft
    2019-10-01 0 days 1,953 sqft
    2019-11-01 0 days 1,871 sqft
    2019-12-01 0 days 1,906 sqft
    2020-01-01 0 days 2,085 sqft
    2020-02-01 0 days 1,991 sqft
    2020-03-01 0 days 1,979 sqft
    2020-04-01 0 days 1,992 sqft
    2020-05-01 0 days 2,203 sqft
    2020-06-01 0 days 2,309 sqft
    2020-07-01 0 days 2,246 sqft
    2020-08-01 0 days 2,342 sqft
    2020-09-01 0 days 2,397 sqft
    2020-10-01 0 days 2,459 sqft
    2020-11-01 0 days 2,334 sqft
    2020-12-01 0 days 2,518 sqft
    2021-01-01 0 days 2,736 sqft
    2021-02-01 0 days 2,805 sqft
    2021-03-01 0 days 2,498 sqft
    2021-04-01 0 days 2,475 sqft
    2021-05-01 0 days 2,096 sqft
    2021-06-01 0 days 2,090 sqft
    2021-07-01 0 days 2,100 sqft
    2021-08-01 0 days 2,098 sqft
    2021-09-01 0 days 1,980 sqft
    2021-10-01 0 days 2,003 sqft
    2021-11-01 0 days 1,987 sqft
    2021-12-01 0 days 1,985 sqft
    2022-01-01 0 days 1,884 sqft
    2022-02-01 0 days 1,950 sqft
    2022-03-01 0 days 1,990 sqft
    2022-04-01 0 days 2,068 sqft
    2022-05-01 0 days 1,930 sqft
    2022-06-01 0 days 2,028 sqft
    2022-07-01 0 days 2,087 sqft
    2022-08-01 0 days 2,097 sqft
    2022-09-01 0 days 2,245 sqft
    2022-10-01 0 days 2,200 sqft
    2022-11-01 0 days 2,160 sqft
    2022-12-01 0 days 2,183 sqft
    2023-01-01 0 days 2,238 sqft
    2023-02-01 0 days 2,106 sqft
    2023-03-01 0 days 1,934 sqft
    2023-04-01 0 days 1,968 sqft
    2023-05-01 0 days 2,002 sqft
    2023-06-01 0 days 1,963 sqft
    2023-07-01 0 days 2,065 sqft
    2023-08-01 0 days 2,142 sqft
    2023-09-01 0 days 2,080 sqft
    2023-10-01 0 days 2,106 sqft
    2023-11-01 0 days 2,069 sqft
    2023-12-01 0 days 2,054 sqft
    2024-01-01 0 days 1,946 sqft
    2024-02-01 0 days 1,936 sqft
    2024-03-01 0 days 1,898 sqft
    2024-04-01 0 days 1,868 sqft
    2024-05-01 0 days 1,855 sqft
    2024-06-01 0 days 1,864 sqft
    2024-07-01 0 days 1,911 sqft
    2024-08-01 0 days 1,924 sqft
    2024-09-01 0 days 2,002 sqft
    2024-10-01 0 days 2,071 sqft
    Hood River's median listing age (time on market) for 2024-10-01 was 0 days.

    Hood River's median square footage for active listings during the 2024-10-01 period was 2,071 sqft. One year prior, the average listing was 2,106 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).