Lake Havasu City FHA Loan Rates, Closing Costs & Stats

LAKE HAVASU CITY-KINGMAN, AZ

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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.

    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 6.16% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

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

    The average rate for the prior week (2023-05-19) was 6.03% and one month ago for the week of 2023-04-21, the average rate was 5.97%.

    The average rate one year ago was 4.99%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.02%.

    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 (3.6%) $319,301 (8.5%) 0.93 1,242
    2018-02-01 $254,075 (3.2%) $325,834 (8.7%) 0.92 1,345
    2018-03-01 $259,900 (5.3%) $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 (8.2%) 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%) $340,315 (9.2%) 0.94 1,011
    2018-09-01 $283,900 (13.6%) $346,878 (11.6%) 0.95 1,065
    2018-10-01 $283,450 (11.3%) $345,121 (9.3%) 0.96 1,142
    2018-11-01 $283,950 (11.4%) $347,456 (9.1%) 0.96 1,229
    2018-12-01 $279,450 (9.6%) $343,770 (8.2%) 0.96 1,218
    2019-01-01 $281,200 (12.5%) $348,893 (9.3%) 0.97 1,219
    2019-02-01 $289,250 (13.8%) $358,515 (10.0%) 0.98 1,286
    2019-03-01 $297,970 (14.7%) $364,718 (11.3%) 0.99 1,290
    2019-04-01 $299,000 (13.3%) $370,683 (11.3%) 0.95 1,263
    2019-05-01 $299,450 (8.9%) $369,178 (9.4%) 0.94 1,247
    2019-06-01 $301,000 (5.7%) $376,264 (10.3%) 0.94 1,183
    2019-07-01 $305,000 (5.2%) $374,761 (7.5%) 0.95 1,156
    2019-08-01 $319,000 (14.0%) $383,321 (12.6%) 1.00 1,138
    2019-09-01 $319,900 (12.7%) $390,061 (12.5%) 1.01 1,078
    2019-10-01 $321,950 (13.6%) $388,920 (12.7%) 1.04 1,136
    2019-11-01 $319,900 (12.7%) $383,024 (10.2%) 1.05 1,112
    2019-12-01 $322,300 (15.3%) $387,720 (12.8%) 1.07 1,084
    2020-01-01 $324,950 (15.6%) $392,009 (12.4%) 1.09 1,090
    2020-02-01 $325,000 (12.4%) $391,905 (9.3%) 1.06 1,021
    2020-03-01 $324,950 (9.1%) $391,943 (7.5%) 1.02 996
    2020-04-01 $311,950 (4.3%) $378,462 (2.1%) 0.98 1,075
    2020-05-01 $305,000 (1.9%) $377,163 (2.2%) 0.93 1,013
    2020-06-01 $299,900 (-0.4%) $383,843 (2.0%) 0.88 810
    2020-07-01 $322,400 (5.7%) $393,680 (5.1%) 0.93 674
    2020-08-01 $325,000 (1.9%) $401,617 (4.8%) 0.93 636
    2020-09-01 $333,750 (4.3%) $418,161 (7.2%) 0.96 593
    2020-10-01 $344,900 (7.1%) $427,707 (10.0%) 0.99 597
    2020-11-01 $343,650 (7.4%) $429,091 (12.0%) 1.00 607
    2020-12-01 $342,225 (6.2%) $428,867 (10.6%) 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 $409,900 (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%) 0.95 1,018
    2023-04-01 $417,000 (-7.3%) $516,122 (-4.7%) 0.97 964
    Lake Havasu City's median listing price for 2023-04-01 was $417,000, a difference of $-33,000 (-7.3%) versus the prior year and $12,000 versus the prior month.

    Lake Havasu City's median listing price comes in at 97% of the national average.

    Lake Havasu City's average listing price for 2023-04-01 was $516,122, a difference of $-25,611 (-4.7%) versus the prior year and $23,677 versus the prior month.

    For the 2023-04-01 period, Lake Havasu City had 964 MLS listings, a difference of -54 listings (-5%) versus the prior month and 472 listings (96%) 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 84 days 1,714 sqft
    2018-02-01 88 days 1,711 sqft
    2018-03-01 77 days 1,713 sqft
    2018-04-01 80 days 1,720 sqft
    2018-05-01 72 days 1,728 sqft
    2018-06-01 75 days 1,761 sqft
    2018-07-01 89 days 1,772 sqft
    2018-08-01 72 days 1,748 sqft
    2018-09-01 63 days 1,755 sqft
    2018-10-01 66 days 1,756 sqft
    2018-11-01 64 days 1,746 sqft
    2018-12-01 72 days 1,725 sqft
    2019-01-01 80 days 1,732 sqft
    2019-02-01 80 days 1,737 sqft
    2019-03-01 66 days 1,752 sqft
    2019-04-01 68 days 1,759 sqft
    2019-05-01 68 days 1,748 sqft
    2019-06-01 72 days 1,775 sqft
    2019-07-01 77 days 1,786 sqft
    2019-08-01 92 days 1,805 sqft
    2019-09-01 92 days 1,814 sqft
    2019-10-01 81 days 1,810 sqft
    2019-11-01 78 days 1,791 sqft
    2019-12-01 87 days 1,780 sqft
    2020-01-01 86 days 1,798 sqft
    2020-02-01 85 days 1,805 sqft
    2020-03-01 72 days 1,783 sqft
    2020-04-01 67 days 1,728 sqft
    2020-05-01 74 days 1,720 sqft
    2020-06-01 88 days 1,716 sqft
    2020-07-01 79 days 1,732 sqft
    2020-08-01 73 days 1,721 sqft
    2020-09-01 71 days 1,720 sqft
    2020-10-01 59 days 1,724 sqft
    2020-11-01 56 days 1,710 sqft
    2020-12-01 58 days 1,743 sqft
    2021-01-01 62 days 1,709 sqft
    2021-02-01 62 days 1,700 sqft
    2021-03-01 50 days 1,743 sqft
    2021-04-01 38 days 1,759 sqft
    2021-05-01 39 days 1,743 sqft
    2021-06-01 41 days 1,738 sqft
    2021-07-01 39 days 1,722 sqft
    2021-08-01 39 days 1,701 sqft
    2021-09-01 38 days 1,713 sqft
    2021-10-01 44 days 1,720 sqft
    2021-11-01 48 days 1,719 sqft
    2021-12-01 58 days 1,715 sqft
    2022-01-01 67 days 1,737 sqft
    2022-02-01 58 days 1,725 sqft
    2022-03-01 42 days 1,739 sqft
    2022-04-01 39 days 1,741 sqft
    2022-05-01 33 days 1,706 sqft
    2022-06-01 36 days 1,643 sqft
    2022-07-01 46 days 1,630 sqft
    2022-08-01 52 days 1,641 sqft
    2022-09-01 62 days 1,642 sqft
    2022-10-01 73 days 1,644 sqft
    2022-11-01 78 days 1,639 sqft
    2022-12-01 87 days 1,633 sqft
    2023-01-01 92 days 1,655 sqft
    2023-02-01 92 days 1,653 sqft
    2023-03-01 75 days 1,657 sqft
    2023-04-01 72 days 1,696 sqft
    Lake Havasu City's median listing age (time on market) for 2023-04-01 was 72 days. This is 85% longer than the same period one year ago.

    Lake Havasu City's median square footage for active listings during the 2023-04-01 period was 1,696 sqft. One year prior, the average listing was 1,741 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).