La Grande FHA Loan Rates, Closing Costs & Stats

La Grande, 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.

    La Grande's 21 lenders originated 58 FHA loans during 2023. The total origination value was $14,230,000, with an average FHA loan value of $245,345.

    La Grande FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in La Grande averaged 6.79% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    La Grande's average FHA mortgage closing costs are $8,303.

    The average rate for the prior week (2024-04-12) was 6.98% and one month ago for the week of 2024-03-15, the average rate was 6.55%.

    The average rate one year ago was 6.48%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

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

    La Grande 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 La Grande level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MANN FINANCIAL INC. 13 6.51% $9,812
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 6.78% $11,377
    UNITED WHOLESALE MORTGAGE, LLC 7 6.41% $12,033
    Umpqua Bank 2 6.19% $12,949
    NATIONS DIRECT MORTGAGE, LLC 2 7.06% $10,514
    U.S. Bank 2 7.50% $9,330
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.38% $7,935
    Banner Bank 2 6.38% $10,813
    M&T Bank 1 6.75% $7,897
    NEWREZ LLC 1 6.50% $11,302
    PHH Mortgage Corporation 1 5.49% $21,524
    QUICKEN LOANS, LLC 1 6.49% $5,276
    TJC Mortgage, Inc. 1 6.50% $12,325
    MOVEMENT MORTGAGE, LLC 1 7.25% $9,730
    CANOPY MORTGAGE, LLC 1 7.25% $12,636
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 6.63% $17,706
    GUILD MORTGAGE COMPANY 1 6.50% $10,960
    JMJ FINANCIAL GROUP 1 5.75% $18,586
    LOANDEPOT.COM, LLC 1 6.38% $10,319
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $6,569
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $10,471

    The top La Grande FHA lender as defined by loan originations is MANN FINANCIAL INC., with 13 FHA loans originated. Their average total fees are $9,812, which is $1,564 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee La Grande FHA lenders (with over 10 loans originated) are MANN FINANCIAL INC. ($9,812), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($11,377), .

    The lowest rate La Grande FHA lenders (with over 10 loans originated) are MANN FINANCIAL INC. (6.51%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.78%), .

    La Grande FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LA GRANDE, OR UNION 2022 $420,680 $538,650 $651,050 $809,150
    LA GRANDE, OR UNION 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - La Grande (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 $237,925 (-8.5%) $346,232 (0.8%) 0.00 76
    2018-02-01 $254,950 (0.0%) $373,800 (4.7%) 0.00 68
    2018-03-01 $249,000 (-7.8%) $374,451 (1.0%) 0.00 71
    2018-04-01 $279,125 (5.3%) $428,410 (16.3%) 0.00 72
    2018-05-01 $276,950 (2.1%) $416,206 (12.2%) 0.00 78
    2018-06-01 $275,000 (5.9%) $415,301 (19.8%) 0.00 82
    2018-07-01 $265,000 (-6.8%) $337,652 (-12.6%) 0.00 84
    2018-08-01 $266,425 (-2.1%) $353,273 (-3.9%) 0.00 87
    2018-09-01 $291,250 (9.9%) $366,306 (3.9%) 0.00 73
    2018-10-01 $285,000 (6.7%) $356,457 (3.6%) 0.00 76
    2018-11-01 $287,500 (5.2%) $370,146 (2.3%) 0.00 70
    2018-12-01 $277,450 (17.6%) $361,084 (5.7%) 0.00 67
    2019-01-01 $274,950 (15.6%) $363,875 (5.1%) 0.00 65
    2019-02-01 $279,975 (9.8%) $369,768 (-1.1%) 0.00 61
    2019-03-01 $277,829 (11.6%) $365,886 (-2.3%) 0.00 65
    2019-04-01 $275,354 (-1.4%) $365,493 (-14.7%) 0.00 74
    2019-05-01 $278,450 (0.5%) $369,002 (-11.3%) 0.00 80
    2019-06-01 $269,900 (-1.9%) $376,626 (-9.3%) 0.00 93
    2019-07-01 $278,000 (4.9%) $383,276 (13.5%) 0.00 89
    2019-08-01 $273,427 (2.6%) $395,241 (11.9%) 0.00 87
    2019-09-01 $268,068 (-8.0%) $412,465 (12.6%) 0.00 83
    2019-10-01 $263,900 (-7.4%) $365,435 (2.5%) 0.00 78
    2019-11-01 $263,900 (-8.2%) $306,581 (-17.2%) 0.00 65
    2019-12-01 $244,748 (-11.8%) $279,488 (-22.6%) 0.00 60
    2020-01-01 $242,975 (-11.6%) $268,671 (-26.2%) 0.00 52
    2020-02-01 $240,000 (-14.3%) $258,361 (-30.1%) 0.00 46
    2020-03-01 $213,500 (-23.2%) $251,736 (-31.2%) 0.00 44
    2020-04-01 $219,000 (-20.5%) $251,954 (-31.1%) 0.00 46
    2020-05-01 $239,995 (-13.8%) $257,745 (-30.2%) 0.00 42
    2020-06-01 $253,000 (-6.3%) $324,508 (-13.8%) 0.00 34
    2020-07-01 $280,298 (0.8%) $315,990 (-17.6%) 0.00 37
    2020-08-01 $254,900 (-6.8%) $327,799 (-17.1%) 0.00 34
    2020-09-01 $234,500 (-12.5%) $309,178 (-25.0%) 0.00 31
    2020-10-01 $262,500 (-0.5%) $364,688 (-0.2%) 0.00 22
    2020-11-01 $245,400 (-7.0%) $345,059 (12.6%) 0.00 21
    2020-12-01 $231,200 (-5.5%) $317,749 (13.7%) 0.00 24
    2021-01-01 $261,700 (7.7%) $334,159 (24.4%) 0.00 22
    2021-02-01 $286,325 (19.3%) $356,821 (38.1%) 0.00 15
    2021-03-01 $289,750 (35.7%) $373,427 (48.3%) 0.00 17
    2021-04-01 $269,000 (22.8%) $429,227 (70.4%) 0.00 18
    2021-05-01 $385,000 (60.4%) $468,458 (81.8%) 0.00 22
    2021-06-01 $332,125 (31.3%) $417,841 (28.8%) 0.00 32
    2021-07-01 $350,000 (24.9%) $415,479 (31.5%) 0.00 26
    2021-08-01 $349,500 (37.1%) $395,544 (20.7%) 0.00 24
    2021-09-01 $271,375 (15.7%) $324,540 (5.0%) 0.00 38
    2021-10-01 $285,000 (8.6%) $326,684 (-10.4%) 0.00 37
    2021-11-01 $290,000 (18.2%) $354,038 (2.6%) 0.00 24
    2021-12-01 $277,750 (20.1%) $330,011 (3.9%) 0.00 23
    2022-01-01 $263,450 (0.7%) $314,548 (-5.9%) 0.00 20
    2022-02-01 $303,825 (6.1%) $338,808 (-5.1%) 0.00 17
    2022-03-01 $282,225 (-2.6%) $338,245 (-9.4%) 0.00 16
    2022-04-01 $315,000 (17.1%) $372,005 (-13.3%) 0.00 22
    2022-05-01 $375,625 (-2.4%) $447,453 (-4.5%) 0.00 33
    2022-06-01 $330,950 (-0.4%) $634,533 (51.9%) 0.00 50
    2022-07-01 $329,900 (-5.7%) $618,278 (48.8%) 0.00 51
    2022-08-01 $319,000 (-8.7%) $646,417 (63.4%) 0.00 45
    2022-09-01 $327,500 (20.7%) $653,027 (101.2%) 0.00 52
    2022-10-01 $380,000 (33.3%) $722,243 (121.1%) 0.00 51
    2022-11-01 $377,225 (30.1%) $737,357 (108.3%) 0.00 50
    2022-12-01 $344,500 (24.0%) $538,265 (63.1%) 0.00 41
    2023-01-01 $343,200 (30.3%) $520,279 (65.4%) 0.00 40
    2023-02-01 $371,000 (22.1%) $553,850 (63.5%) 0.00 39
    2023-03-01 $410,250 (45.4%) $601,412 (77.8%) 0.00 37
    2023-04-01 $375,000 (19.1%) $593,441 (59.5%) 0.00 40
    2023-05-01 $361,625 (-3.7%) $572,484 (27.9%) 0.00 32
    2023-06-01 $377,500 (14.1%) $818,312 (29.0%) 0.00 38
    2023-07-01 $375,000 (13.7%) $781,240 (26.4%) 0.00 45
    2023-08-01 $429,750 (34.7%) $753,596 (16.6%) 0.00 50
    2023-09-01 $370,000 (13.0%) $688,008 (5.4%) 0.00 61
    2023-10-01 $351,750 (-7.4%) $680,977 (-5.7%) 0.00 57
    2023-11-01 $323,875 (-14.1%) $658,579 (-10.7%) 0.00 55
    2023-12-01 $298,950 (-13.2%) $630,387 (17.1%) 0.00 47
    2024-01-01 $326,000 (-5.0%) $702,009 (34.9%) 0.00 40
    2024-02-01 $359,625 (-3.1%) $739,046 (33.4%) 0.00 40
    2024-03-01 $395,750 (-3.5%) $716,865 (19.2%) 0.00 46
    La Grande's median listing price for 2024-03-01 was $395,750, a difference of $-14,500 (-3.5%) versus the prior year and $36,125 versus the prior month.

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

    La Grande's average listing price for 2024-03-01 was $716,865, a difference of $115,453 (19.2%) versus the prior year and $-22,181 versus the prior month.

    For the 2024-03-01 period, La Grande had 46 MLS listings, a difference of 6 listings (15%) versus the prior month and 9 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - La Grande (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,067 sqft
    2018-02-01 0 days 2,129 sqft
    2018-03-01 0 days 2,003 sqft
    2018-04-01 0 days 2,252 sqft
    2018-05-01 0 days 2,273 sqft
    2018-06-01 0 days 2,214 sqft
    2018-07-01 0 days 2,116 sqft
    2018-08-01 0 days 2,017 sqft
    2018-09-01 0 days 1,997 sqft
    2018-10-01 0 days 1,998 sqft
    2018-11-01 0 days 2,019 sqft
    2018-12-01 0 days 2,046 sqft
    2019-01-01 0 days 2,074 sqft
    2019-02-01 0 days 2,053 sqft
    2019-03-01 0 days 2,004 sqft
    2019-04-01 0 days 2,014 sqft
    2019-05-01 0 days 1,933 sqft
    2019-06-01 0 days 1,906 sqft
    2019-07-01 0 days 1,977 sqft
    2019-08-01 0 days 1,993 sqft
    2019-09-01 0 days 1,946 sqft
    2019-10-01 0 days 1,947 sqft
    2019-11-01 0 days 2,015 sqft
    2019-12-01 0 days 1,973 sqft
    2020-01-01 0 days 1,969 sqft
    2020-02-01 0 days 1,973 sqft
    2020-03-01 0 days 1,873 sqft
    2020-04-01 0 days 1,925 sqft
    2020-05-01 0 days 1,974 sqft
    2020-06-01 0 days 1,967 sqft
    2020-07-01 0 days 2,019 sqft
    2020-08-01 0 days 2,153 sqft
    2020-09-01 0 days 1,991 sqft
    2020-10-01 0 days 1,939 sqft
    2020-11-01 0 days 1,815 sqft
    2020-12-01 0 days 1,675 sqft
    2021-01-01 0 days 1,765 sqft
    2021-02-01 0 days 1,749 sqft
    2021-03-01 0 days 1,859 sqft
    2021-04-01 0 days 1,946 sqft
    2021-05-01 0 days 1,954 sqft
    2021-06-01 0 days 1,709 sqft
    2021-07-01 0 days 2,112 sqft
    2021-08-01 0 days 2,038 sqft
    2021-09-01 0 days 2,004 sqft
    2021-10-01 0 days 2,016 sqft
    2021-11-01 0 days 2,054 sqft
    2021-12-01 0 days 2,090 sqft
    2022-01-01 0 days 1,889 sqft
    2022-02-01 0 days 1,499 sqft
    2022-03-01 0 days 1,736 sqft
    2022-04-01 0 days 1,706 sqft
    2022-05-01 0 days 2,016 sqft
    2022-06-01 0 days 1,783 sqft
    2022-07-01 0 days 1,786 sqft
    2022-08-01 0 days 1,772 sqft
    2022-09-01 0 days 1,804 sqft
    2022-10-01 0 days 1,950 sqft
    2022-11-01 0 days 2,017 sqft
    2022-12-01 0 days 1,975 sqft
    2023-01-01 0 days 1,838 sqft
    2023-02-01 0 days 1,912 sqft
    2023-03-01 0 days 2,164 sqft
    2023-04-01 0 days 2,393 sqft
    2023-05-01 0 days 2,036 sqft
    2023-06-01 0 days 2,010 sqft
    2023-07-01 0 days 1,864 sqft
    2023-08-01 0 days 2,185 sqft
    2023-09-01 0 days 1,969 sqft
    2023-10-01 0 days 1,919 sqft
    2023-11-01 0 days 1,954 sqft
    2023-12-01 0 days 1,854 sqft
    2024-01-01 0 days 1,885 sqft
    2024-02-01 0 days 1,931 sqft
    2024-03-01 0 days 2,143 sqft
    La Grande's median listing age (time on market) for 2024-03-01 was 0 days.

    La Grande's median square footage for active listings during the 2024-03-01 period was 2,143 sqft. One year prior, the average listing was 2,164 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).