Lake Havasu City FHA Loan Rates, Closing Costs & Stats

LAKE HAVASU CITY-KINGMAN, AZ

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.

Lake Havasu City's 111 lenders originated 1,141 FHA loans during 2022. The total origination value was $260,205,000, with an average FHA loan value of $228,050.

Lake Havasu City FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Lake Havasu City averaged -0.55% for the week of 2024-02-23, compared to the national average (all FHA variants) of 0% for the same period.

Lake Havasu City's average FHA mortgage closing costs are $7,781.

The average rate for the prior week (2024-02-16) was 6.29% and one month ago for the week of 2024-01-19, the average rate was 5.93%.

The average rate one year ago was 6.09%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.19%.

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

Lake Havasu City 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 Lake Havasu City level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 81 4.91% $10,901
QUICKEN LOANS, LLC 64 4.45% $10,514
BROKER SOLUTIONS, INC. 62 5.15% $11,158
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 59 5.25% $10,357
INSPIRE HOME LOANS INC. 30 5.33% $10,618
LOANDEPOT.COM, LLC 25 4.55% $11,541
SUN AMERICAN MORTGAGE COMPANY 25 4.82% $8,762
Flagstar Bank, FSB 23 4.80% $9,828
ACADEMY MORTGAGE CORPORATION 19 5.22% $11,092
Amerifirst Financial, Inc. 19 5.82% $9,917
NOVA FINANCIAL & INVESTMENT CORPORATION 19 4.87% $5,097
Nations Lending Corporation 15 5.74% $11,361
Hometown Lenders, Inc. 14 4.38% $10,431
AXIA FINANCIAL, LLC 13 4.76% $10,662
VILLAGE CAPITAL MORTGAGE 13 4.42% $9,998
HOME POINT FINANCIAL CORPORATION 12 4.20% $10,449
Carrington Mortgage Services, LLC 12 4.66% $9,409
AMERICAN FINANCIAL RESOURCES, INC. 11 4.59% $8,974
PENNYMAC LOAN SERVICES, LLC 11 4.26% $11,351
NEWREZ LLC 11 4.68% $8,978
CARDINAL FINANCIAL 11 3.78% $12,728
HOMEOWNERS FINANCIAL GROUP USA, LLC 11 5.13% $11,354
FREEDOM MORTGAGE CORPORATION 10 4.76% $10,921
LAKEVIEW LOAN SERVICING, LLC 10 3.95% $7,763
CROSSCOUNTRY MORTGAGE, LLC 9 5.00% $10,661
LOANPAL, LLC 9 4.51% $13,821
CALIBER HOME LOANS, INC. 9 4.37% $9,186
Wells Fargo Bank 9 4.58% $6,596
SECURITYNATIONAL MORTGAGE COMPANY 8 5.77% $12,382
Equity Prime Mortgage LLC 8 5.31% $9,627
Mr. Cooper ( Nationstar Mortgage ) 8 4.36% $12,387
FINANCE OF AMERICA MORTGAGE LLC 7 4.14% $10,475
PRIMARY RESIDENTIAL MORTGAGE, INC. 6 5.44% $11,581
MOUNTAIN WEST FINANCIAL, INC. 6 4.54% $13,864
AMERISAVE MORTGAGE CORPORATION 6 5.08% $13,372
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 4.35% $14,083
PLANET HOME LENDING, LLC 5 3.83% $6,598
Paramount Residential Mortgage Group, Inc. 5 4.80% $10,309
NFM, INC. 5 4.50% $11,097
TOP FLITE FINANCIAL, INC. 5 5.60% $13,333
SOVEREIGN LENDING GROUP INCORPORATED 4 3.97% $10,163
FBC MORTGAGE, LLC 4 4.75% $16,414
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 5.22% $8,439
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 5.06% $12,923
GUILD MORTGAGE COMPANY 4 5.38% $13,698
LHM FINANCIAL CORPORATION 3 4.75% $11,647
AMERICAN FINANCING CORPORATION 3 2.83% $9,004
GUARANTEED RATE AFFINITY, LLC 3 6.71% $13,793
GUARANTEED RATE, INC. 3 5.08% $11,058
CALCON MUTUAL MORTGAGE LLC 3 5.96% $12,106
BECKAM FUNDING CORP. 3 5.13% $8,616
V.I.P. MORTGAGE, INC. 3 4.96% $11,366
AMERICAN PACIFIC MORTGAGE CORPORATION 3 5.83% $10,427
MOVEMENT MORTGAGE, LLC 3 5.88% $14,260
Lakeview Community Capital, LLC 3 3.88% $5,430
Commerce Home Mortgage, Inc. 2 3.56% $14,884
AMCAP MORTGAGE, LTD. 2 4.13% $10,288
BAY EQUITY LLC 2 3.63% $13,677
CHERRY CREEK MORTGAGE, LLC 2 4.18% $4,438
CMG MORTGAGE, INC. 2 3.69% $15,646
First Guaranty Mortgage Corporation 2 3.31% $9,735
MID AMERICA MORTGAGE, INC. 2 4.75% $5,305
MORIA DEVELOPMENT, INC. 2 4.50% $8,915
MUTUAL OF OMAHA MORTGAGE, INC. 2 5.00% $12,377
NETWORK CAPITAL FUNDING CORPORATION 2 4.94% $9,354
PACIFIC RESIDENTIAL MORTGAGE, LLC 2 7.00% $13,933
ROYAL UNITED MORTGAGE LLC 2 5.50% $14,308
Sunflower Bank 2 5.06% $12,817
SUN WEST MORTGAGE COMPANY, INC. 2 4.44% $7,140
UNION HOME MORTGAGE CORP. 2 4.06% $8,913
M&T Bank 1 3.00% $9,561
VERITAS FUNDING, LLC 1 2.62% $15,288
NATIONS DIRECT MORTGAGE, LLC 1 5.13% $9,270
LADERA LENDING, INC. 1 5.75% $11,800
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $5,725
JPMorgan Chase Bank 1 6.75% $3,590
INTELLILOAN, INC. 1 3.63% $12,619
Northpointe Bank 1 4.25% $12,530
Hometown Equity Mortgage, LLC 1 3.88% $14,094
OCMBC, INC. 1 4.75% $18,236
Pacific Lending LLC 1 3.25% $9,186
AmeriHome Mortgage Company, LLC 1 3.63% $10,772
Golden Empire Mortgage, Inc. 1 5.13% $16,790
Glacier Bank 1 5.63% $11,325
Plains Commerce Bank 1 5.63% $7,078
First National Bank Texas 1 5.50% $7,960
ENVOY MORTGAGE, LTD 1 5.63% $9,184
DIRECT MORTGAGE, CORP. 1 6.63% $7,837
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.75% $7,538
RANLIFE, INC. 1 3.75% $10,022
RELIANCE FIRST CAPITAL, LLC 1 2.50% $10,165
RESIDENTIAL WHOLESALE MORTGAGE, INC. 1 5.00% $7,037
Wallick & Volk, Inc. 1 5.63% $10,533
CHOICE LENDING CORP. 1 5.25% $10,206
SIWELL, INC. 1 2.75% $7,685
Chickasaw Community Bank 1 4.88% $8,885
Century Mortgage Company DBA Century Lending Company 1 4.25% $7,370
Waterstone Mortgage Corporation 1 3.88% $15,433
AMERICA FIRST 1 4.75% $10,195
Texana Bank 1 3.13% $13,218
CASTLE & COOKE MORTGAGE, LLC 1 4.75% $18,425
ZILLOW HOME LOANS, LLC 1 5.75% $11,564
Loan Simple, Inc. 1 7.00% $16,742
Magnolia Bank 1 5.88% $10,810
BEST FINANCE CAPITAL, INC. 1 6.25% $10,809
ML Mortgage Corp. 1 3.63% $12,113
VAN DYK MORTGAGE CORPORATION 1 7.13% $10,402
Mortgage Research Center, LLC 1 4.25% $13,464
LOANLEADERS OF AMERICA, INC. 1 6.13% $8,510
LIBERTY HOME MORTGAGE CORPORATION 1 5.75% $6,688
LAND HOME FINANCIAL SERVICES, INC. 1 5.75% $11,557

The top Lake Havasu City FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 81 FHA loans originated. Their average total fees are $10,901, which is $387 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Lake Havasu City FHA lenders (with over 10 loans originated) are NOVA FINANCIAL & INVESTMENT CORPORATION ($5,097), LAKEVIEW LOAN SERVICING, LLC ($7,763), SUN AMERICAN MORTGAGE COMPANY ($8,762), AMERICAN FINANCIAL RESOURCES, INC. ($8,974) and NEWREZ LLC ($8,978).

The lowest rate Lake Havasu City FHA lenders (with over 10 loans originated) are CARDINAL FINANCIAL (3.78%), LAKEVIEW LOAN SERVICING, LLC (3.95%), HOME POINT FINANCIAL CORPORATION (4.20%), PENNYMAC LOAN SERVICES, LLC (4.26%) and Hometown Lenders, Inc. (4.38%).

Lake Havasu City FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
LAKE HAVASU CITY-KINGMAN, AZ MOHAVE 2022 $420,680 $538,650 $651,050 $809,150
LAKE HAVASU CITY-KINGMAN, AZ MOHAVE 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Lake Havasu City (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 $249,900 (3.5%) $319,301 (8.4%) 0.93 1,242
2018-02-01 $255,425 (3.6%) $326,013 (8.8%) 0.93 1,345
2018-03-01 $259,900 (5.2%) $327,712 (7.5%) 0.91 1,210
2018-04-01 $263,900 (6.5%) $333,048 (7.8%) 0.89 1,198
2018-05-01 $275,000 (10.0%) $337,480 (8.1%) 0.92 1,114
2018-06-01 $284,900 (10.0%) $341,023 (8.5%) 0.95 1,046
2018-07-01 $289,975 (12.0%) $348,570 (10.7%) 0.97 1,012
2018-08-01 $279,950 (10.0%) $340,334 (9.2%) 0.94 1,010
2018-09-01 $283,450 (13.4%) $346,918 (11.6%) 0.95 1,064
2018-10-01 $283,200 (11.2%) $345,157 (9.3%) 0.96 1,141
2018-11-01 $283,950 (11.4%) $347,492 (9.1%) 0.96 1,228
2018-12-01 $279,000 (9.5%) $343,805 (8.2%) 0.96 1,217
2019-01-01 $280,575 (12.3%) $348,930 (9.3%) 0.97 1,218
2019-02-01 $289,250 (13.2%) $358,558 (10.0%) 0.98 1,285
2019-03-01 $293,571 (13.0%) $363,074 (10.8%) 0.96 1,285
2019-04-01 $298,321 (13.0%) $369,600 (11.0%) 0.95 1,262
2019-05-01 $299,450 (8.9%) $368,932 (9.3%) 0.94 1,248
2019-06-01 $300,500 (5.5%) $375,998 (10.3%) 0.94 1,184
2019-07-01 $304,750 (5.1%) $374,632 (7.5%) 0.95 1,157
2019-08-01 $305,791 (9.2%) $377,153 (10.8%) 0.97 1,163
2019-09-01 $313,727 (10.7%) $384,091 (10.7%) 1.00 1,148
2019-10-01 $321,310 (13.5%) $388,716 (12.6%) 1.04 1,138
2019-11-01 $319,900 (12.7%) $382,869 (10.2%) 1.05 1,114
2019-12-01 $322,200 (15.5%) $387,554 (12.7%) 1.07 1,085
2020-01-01 $324,950 (15.8%) $391,840 (12.3%) 1.09 1,091
2020-02-01 $325,000 (12.4%) $391,727 (9.3%) 1.06 1,021
2020-03-01 $324,950 (10.7%) $391,943 (8.0%) 1.02 996
2020-04-01 $311,950 (4.6%) $378,462 (2.4%) 0.98 1,075
2020-05-01 $305,000 (1.9%) $377,263 (2.3%) 0.93 1,012
2020-06-01 $299,900 (-0.2%) $383,843 (2.1%) 0.88 810
2020-07-01 $322,400 (5.8%) $393,680 (5.1%) 0.93 674
2020-08-01 $325,000 (6.3%) $401,617 (6.5%) 0.93 636
2020-09-01 $333,750 (6.4%) $418,161 (8.9%) 0.96 593
2020-10-01 $344,900 (7.3%) $427,707 (10.0%) 0.99 597
2020-11-01 $343,650 (7.4%) $429,091 (12.1%) 1.00 607
2020-12-01 $342,225 (6.2%) $428,867 (10.7%) 1.02 531
2021-01-01 $334,500 (2.9%) $437,781 (11.7%) 1.00 484
2021-02-01 $342,400 (5.4%) $450,550 (15.0%) 1.00 401
2021-03-01 $349,950 (7.7%) $451,091 (15.1%) 0.99 363
2021-04-01 $369,200 (18.4%) $480,715 (27.0%) 1.00 386
2021-05-01 $398,000 (30.5%) $497,608 (31.9%) 1.06 374
2021-06-01 $412,450 (37.5%) $523,777 (36.5%) 1.09 404
2021-07-01 $402,500 (24.8%) $508,619 (29.2%) 1.06 490
2021-08-01 $399,950 (23.1%) $495,614 (23.4%) 1.07 544
2021-09-01 $399,000 (19.6%) $490,209 (17.2%) 1.06 613
2021-10-01 $409,950 (18.9%) $490,393 (14.7%) 1.09 668
2021-11-01 $399,750 (16.3%) $483,933 (12.8%) 1.07 657
2021-12-01 $395,950 (15.7%) $472,933 (10.3%) 1.07 574
2022-01-01 $425,450 (27.2%) $508,148 (16.1%) 1.15 510
2022-02-01 $433,450 (26.6%) $503,147 (11.7%) 1.13 424
2022-03-01 $444,700 (27.1%) $509,454 (12.9%) 1.11 428
2022-04-01 $450,000 (21.9%) $541,733 (12.7%) 1.07 492
2022-05-01 $442,450 (11.2%) $542,256 (9.0%) 1.01 707
2022-06-01 $427,000 (3.5%) $531,902 (1.6%) 0.95 887
2022-07-01 $425,000 (5.6%) $522,095 (2.7%) 0.96 1,133
2022-08-01 $424,900 (6.2%) $514,001 (3.7%) 0.98 1,251
2022-09-01 $419,450 (5.1%) $498,285 (1.7%) 0.98 1,274
2022-10-01 $419,900 (2.4%) $493,599 (0.7%) 0.99 1,295
2022-11-01 $412,450 (3.2%) $486,873 (0.6%) 0.99 1,343
2022-12-01 $405,000 (2.3%) $477,606 (1.0%) 1.00 1,255
2023-01-01 $404,353 (-5.0%) $485,315 (-4.5%) 1.00 1,157
2023-02-01 $404,626 (-6.7%) $486,009 (-3.4%) 0.98 1,081
2023-03-01 $405,000 (-8.9%) $492,445 (-3.3%) 0.96 1,018
2023-04-01 $416,000 (-7.6%) $515,899 (-4.8%) 0.97 964
2023-05-01 $424,925 (-4.0%) $540,535 (-0.3%) 0.96 908
2023-06-01 $417,541 (-2.2%) $529,523 (-0.5%) 0.94 883
2023-07-01 $420,000 (-1.2%) $529,842 (1.5%) 0.95 867
2023-08-01 $423,110 (-0.4%) $518,203 (0.8%) 0.97 866
2023-09-01 $419,900 (0.1%) $536,615 (7.7%) 0.98 937
2023-10-01 $419,900 (0.0%) $544,408 (10.3%) 0.99 1,022
2023-11-01 $417,450 (1.2%) $548,029 (12.6%) 0.99 1,100
2023-12-01 $419,000 (3.5%) $540,845 (13.2%) 1.02 1,059
Lake Havasu City's median listing price for 2023-12-01 was $419,000, a difference of $14,000 (3.5%) versus the prior year and $1,550 versus the prior month.

Lake Havasu City's median listing price comes in at 102% of the national average.

Lake Havasu City's average listing price for 2023-12-01 was $540,845, a difference of $63,239 (13.2%) versus the prior year and $-7,184 versus the prior month.

For the 2023-12-01 period, Lake Havasu City had 1,059 MLS listings, a difference of -41 listings (-4%) versus the prior month and -196 listings (-16%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Lake Havasu City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 78 days 1,714 sqft
2018-02-01 75 days 1,711 sqft
2018-03-01 66 days 1,713 sqft
2018-04-01 70 days 1,720 sqft
2018-05-01 62 days 1,728 sqft
2018-06-01 67 days 1,761 sqft
2018-07-01 81 days 1,772 sqft
2018-08-01 62 days 1,747 sqft
2018-09-01 56 days 1,754 sqft
2018-10-01 57 days 1,755 sqft
2018-11-01 58 days 1,746 sqft
2018-12-01 65 days 1,724 sqft
2019-01-01 74 days 1,732 sqft
2019-02-01 72 days 1,737 sqft
2019-03-01 64 days 1,747 sqft
2019-04-01 62 days 1,758 sqft
2019-05-01 61 days 1,746 sqft
2019-06-01 66 days 1,774 sqft
2019-07-01 72 days 1,786 sqft
2019-08-01 72 days 1,797 sqft
2019-09-01 71 days 1,804 sqft
2019-10-01 71 days 1,808 sqft
2019-11-01 70 days 1,789 sqft
2019-12-01 79 days 1,780 sqft
2020-01-01 79 days 1,797 sqft
2020-02-01 79 days 1,804 sqft
2020-03-01 65 days 1,783 sqft
2020-04-01 61 days 1,728 sqft
2020-05-01 68 days 1,720 sqft
2020-06-01 77 days 1,716 sqft
2020-07-01 63 days 1,731 sqft
2020-08-01 60 days 1,721 sqft
2020-09-01 58 days 1,720 sqft
2020-10-01 49 days 1,724 sqft
2020-11-01 49 days 1,710 sqft
2020-12-01 51 days 1,743 sqft
2021-01-01 55 days 1,709 sqft
2021-02-01 45 days 1,700 sqft
2021-03-01 37 days 1,741 sqft
2021-04-01 31 days 1,758 sqft
2021-05-01 35 days 1,743 sqft
2021-06-01 34 days 1,738 sqft
2021-07-01 35 days 1,722 sqft
2021-08-01 34 days 1,701 sqft
2021-09-01 35 days 1,713 sqft
2021-10-01 41 days 1,720 sqft
2021-11-01 44 days 1,719 sqft
2021-12-01 53 days 1,715 sqft
2022-01-01 63 days 1,737 sqft
2022-02-01 50 days 1,725 sqft
2022-03-01 39 days 1,739 sqft
2022-04-01 36 days 1,741 sqft
2022-05-01 31 days 1,706 sqft
2022-06-01 35 days 1,643 sqft
2022-07-01 45 days 1,630 sqft
2022-08-01 50 days 1,641 sqft
2022-09-01 60 days 1,642 sqft
2022-10-01 71 days 1,644 sqft
2022-11-01 74 days 1,639 sqft
2022-12-01 84 days 1,633 sqft
2023-01-01 89 days 1,655 sqft
2023-02-01 86 days 1,653 sqft
2023-03-01 69 days 1,657 sqft
2023-04-01 66 days 1,696 sqft
2023-05-01 66 days 1,765 sqft
2023-06-01 58 days 1,721 sqft
2023-07-01 58 days 1,726 sqft
2023-08-01 60 days 1,745 sqft
2023-09-01 56 days 1,717 sqft
2023-10-01 54 days 1,710 sqft
2023-11-01 57 days 1,695 sqft
2023-12-01 71 days 1,683 sqft
Lake Havasu City's median listing age (time on market) for 2023-12-01 was 71 days. This is -15% shorter than the same period one year ago.

Lake Havasu City's median square footage for active listings during the 2023-12-01 period was 1,683 sqft. One year prior, the average listing was 1,633 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).