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 99 lenders originated 813 FHA loans during 2023. The total origination value was $197,005,000, with an average FHA loan value of $242,319.

Lake Havasu City FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Lake Havasu City averaged 7.08% for the week of 2024-06-14, compared to the national average (all FHA variants) of 6.712% for the same period.

Lake Havasu City's average FHA mortgage closing costs are $8,388.

The average rate for the prior week (2024-06-07) was 6.67% and one month ago for the week of 2024-05-10, the average rate was 6.95%.

The average rate one year ago was 6.9%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.73%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 113 6.37% $12,160
QUICKEN LOANS, LLC 78 6.32% $11,953
BROKER SOLUTIONS, INC. 73 6.69% $12,054
INSPIRE HOME LOANS INC. 35 6.28% $10,541
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 30 6.51% $11,574
Flagstar Bank, FSB 25 6.79% $11,197
AMERICAN FINANCIAL NETWORK, INC. 23 6.55% $14,775
AMERICAN PACIFIC MORTGAGE CORPORATION 21 6.92% $13,530
GENEVA FINANCIAL, LLC 16 6.76% $14,963
SUN AMERICAN MORTGAGE COMPANY 14 6.79% $12,987
LOANDEPOT.COM, LLC 14 6.16% $13,866
PENNYMAC LOAN SERVICES, LLC 13 6.32% $11,368
ACADEMY MORTGAGE CORPORATION 11 7.32% $11,824
CROSSCOUNTRY MORTGAGE, LLC 11 7.02% $12,725
NEWREZ LLC 10 6.38% $10,492
VILLAGE CAPITAL MORTGAGE 10 6.01% $11,903
LEADERONE FINANCIAL CORPORATION 10 7.01% $9,685
FREEDOM MORTGAGE CORPORATION 9 7.08% $13,141
NOVA FINANCIAL & INVESTMENT CORPORATION 9 6.64% $7,163
Paramount Residential Mortgage Group, Inc. 9 7.19% $12,635
GUILD MORTGAGE COMPANY 8 6.59% $16,100
AXIA FINANCIAL, LLC 8 6.44% $12,370
SECURITYNATIONAL MORTGAGE COMPANY 7 6.98% $13,822
MOUNTAIN WEST FINANCIAL, INC. 6 6.81% $11,438
PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.90% $12,113
CARDINAL FINANCIAL 6 6.38% $15,567
PACIFIC RESIDENTIAL MORTGAGE, LLC 5 7.13% $12,384
Nations Lending Corporation 5 6.80% $13,980
GUARANTEED RATE AFFINITY, LLC 5 6.80% $11,894
NFM, INC. 5 6.73% $12,171
SUN WEST MORTGAGE COMPANY, INC. 5 6.62% $13,122
MOVEMENT MORTGAGE, LLC 5 6.63% $11,211
Mr. Cooper ( Nationstar Mortgage ) 4 6.19% $15,880
LOANPAL, LLC 4 6.09% $11,491
AMERISAVE MORTGAGE CORPORATION 4 5.75% $15,820
FBC MORTGAGE, LLC 3 6.75% $16,761
Equity Prime Mortgage LLC 3 7.13% $11,336
INTERCAP LENDING INC. 3 6.04% $12,018
UNION HOME MORTGAGE CORP. 3 7.17% $11,034
ARIZONA 3 6.00% $8,876
Plains Commerce Bank 3 7.17% $12,768
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 7.21% $7,105
V.I.P. MORTGAGE, INC. 3 6.42% $11,694
EVERETT FINANCIAL, INC. 3 6.63% $13,042
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.38% $13,757
Sierra Pacific Mortgage Company, Inc. 2 6.88% $11,730
BECKAM FUNDING CORP. 2 7.06% $14,113
The Federal Savings Bank 2 5.69% $12,578
AMERICAN FINANCIAL RESOURCES, INC. 2 6.63% $7,243
Wallick & Volk, Inc. 2 5.75% $9,030
Wells Fargo Bank 2 5.69% $12,996
JPMorgan Chase Bank 2 6.56% $5,215
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.75% $13,043
MASON MCDUFFIE MORTGAGE CORPORATION 2 6.38% $15,495
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.69% $16,208
AMERICAN FINANCING CORPORATION 2 6.88% $9,287
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.25% $17,172
Zions Bank 1 5.75% $6,638
Alaska USA Federal Credit Union 1 6.75% $8,702
American Mortgage & Equity Consultants, Inc. 1 7.75% $11,117
AmeriHome Mortgage Company, LLC 1 7.13% $7,984
BAY EQUITY LLC 1 6.13% $14,764
BAY-VALLEY MORTGAGE GROUP 1 5.88% $9,511
Bell Bank 1 5.75% $12,264
BEST FINANCE CAPITAL, INC. 1 6.25% $19,148
Carrington Mortgage Services, LLC 1 7.00% $9,523
CASTLE & COOKE MORTGAGE, LLC 1 7.49% $12,068
Century Mortgage Company DBA Century Lending Company 1 7.13% $6,687
CMG MORTGAGE, INC. 1 7.25% $8,311
Commerce Home Mortgage, Inc. 1 6.88% $13,206
CORNERSTONE HOME LENDING, INC. 1 7.13% $8,156
ENVOY MORTGAGE, LTD 1 6.88% $15,492
First National Bank Texas 1 6.63% $11,776
First Vision Bank of Tennessee 1 7.63% $9,901
Franklin Loan Corporation 1 6.13% $17,376
Glacier Bank 1 6.50% $9,934
Golden Empire Mortgage, Inc. 1 6.75% $15,901
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.63% $16,059
GSF Mortgage Corporation 1 5.38% $7,506
LIBERTY HOME MORTGAGE CORPORATION 1 7.50% $9,816
MICHIGAN MUTUAL, INC. 1 5.50% $12,282
MORIA DEVELOPMENT, INC. 1 5.75% $11,631
MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 6.88% $3,889
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $7,789
NATIONS DIRECT MORTGAGE, LLC 1 7.13% $10,772
NATIONWIDE MORTGAGE BANKERS, INC. 1 7.50% $8,305
OCMBC, INC. 1 6.63% $9,739
ON Q FINANCIAL, INC. 1 7.00% $12,593
ONY GLO, INC. 1 8.13% $12,137
PANORAMA MORTGAGE GROUP, LLC 1 6.38% $16,562
PLANET HOME LENDING, LLC 1 5.25% $7,846
PLAZA HOME MORTGAGE, INC. 1 6.00% $19,254
Prosperity Home Mortgage, LLC 1 6.25% $7,746
RESIDENTIAL BANCORP 1 5.75% $16,135
ROYAL UNITED MORTGAGE LLC 1 6.25% $12,191
SOVEREIGN LENDING GROUP INCORPORATED 1 5.13% $19,874
SUMMIT FUNDING, INC. 1 6.75% $12,883
VERITAS FUNDING, LLC 1 6.63% $18,538
Waterstone Mortgage Corporation 1 6.88% $8,682

The top Lake Havasu City FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 113 FHA loans originated. Their average total fees are $12,160, which is $207 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Lake Havasu City FHA lenders (with over 10 loans originated) are LEADERONE FINANCIAL CORPORATION ($9,685), NEWREZ LLC ($10,492), INSPIRE HOME LOANS INC. ($10,541), Flagstar Bank, FSB ($11,197) and PENNYMAC LOAN SERVICES, LLC ($11,368).

The lowest rate Lake Havasu City FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE (6.01%), LOANDEPOT.COM, LLC (6.16%), INSPIRE HOME LOANS INC. (6.28%), PENNYMAC LOAN SERVICES, LLC (6.32%) and QUICKEN LOANS, LLC (6.32%).

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
2024-01-01 $426,533 (5.5%) $553,866 (14.1%) 1.04 1,023
2024-02-01 $429,450 (6.1%) $560,234 (15.3%) 1.03 1,052
2024-03-01 $425,000 (4.9%) $553,910 (12.5%) 1.00 1,107
2024-04-01 $423,534 (1.8%) $573,979 (11.3%) 0.99 1,075
2024-05-01 $429,900 (1.2%) $574,841 (6.4%) 0.97 1,138
Lake Havasu City's median listing price for 2024-05-01 was $429,900, a difference of $4,975 (1.2%) versus the prior year and $6,366 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 2024-05-01 was $574,841, a difference of $34,306 (6.4%) versus the prior year and $862 versus the prior month.

For the 2024-05-01 period, Lake Havasu City had 1,138 MLS listings, a difference of 63 listings (6%) versus the prior month and 230 listings (25%) 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 63 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 1,745 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 1,697 sqft
2023-05-01 66 days 1,765 sqft
2023-06-01 58 days 1,722 sqft
2023-07-01 58 days 1,728 sqft
2023-08-01 60 days 1,745 sqft
2023-09-01 56 days 1,719 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
2024-01-01 71 days 1,708 sqft
2024-02-01 58 days 1,707 sqft
2024-03-01 57 days 1,697 sqft
2024-04-01 63 days 1,687 sqft
2024-05-01 56 days 1,686 sqft
Lake Havasu City's median listing age (time on market) for 2024-05-01 was 56 days. This is -16% shorter than the same period one year ago.

Lake Havasu City's median square footage for active listings during the 2024-05-01 period was 1,686 sqft. One year prior, the average listing was 1,765 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).