Lewiston FHA Loan Rates, Closing Costs & Stats

LEWISTON, ID-WA

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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.

    Lewiston's 38 lenders originated 168 FHA loans during 2023. The total origination value was $45,820,000, with an average FHA loan value of $272,738.

    Lewiston FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lewiston averaged 6.73% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Lewiston's average FHA mortgage closing costs are $8,679.

    The average rate for the prior week (2024-04-12) was 6.92% and one month ago for the week of 2024-03-15, the average rate was 6.69%.

    The average rate one year ago was 6.22%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Lewiston 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 Lewiston level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 38 6.21% $12,661
    BAY EQUITY LLC 18 6.69% $11,941
    MANN FINANCIAL INC. 15 7.14% $11,741
    QUICKEN LOANS, LLC 14 5.85% $12,325
    AMERICAN PACIFIC MORTGAGE CORPORATION 6 6.67% $12,329
    LAND HOME FINANCIAL SERVICES, INC. 5 6.33% $11,469
    SUMMIT FUNDING, INC. 5 7.20% $14,199
    LOANDEPOT.COM, LLC 4 6.37% $17,155
    SUN WEST MORTGAGE COMPANY, INC. 4 6.78% $9,601
    American Mortgage & Equity Consultants, Inc. 3 6.62% $12,685
    MOVEMENT MORTGAGE, LLC 3 7.00% $12,726
    NEWREZ LLC 3 5.92% $11,628
    S1L, Inc. 2 6.50% $13,280
    FREEDOM MORTGAGE CORPORATION 2 6.50% $14,129
    BROKER SOLUTIONS, INC. 2 7.00% $14,771
    Northpointe Bank 2 6.88% $13,140
    PENNYMAC LOAN SERVICES, LLC 2 6.44% $16,518
    Banner Bank 2 5.63% $6,121
    IDAHO CENTRAL 2 5.94% $7,618
    Umpqua Bank 2 7.06% $10,143
    AMERISAVE MORTGAGE CORPORATION 2 5.50% $19,972
    Wells Fargo Bank 2 6.50% $10,596
    AMERICAN FINANCIAL NETWORK, INC. 2 7.31% $15,484
    Zions Bank 1 6.75% $10,179
    EVERETT FINANCIAL, INC. 1 7.00% $12,969
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 8.13% $7,233
    GUILD MORTGAGE COMPANY 1 6.13% $11,463
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.75% $9,942
    MID AMERICA MORTGAGE, INC. 1 7.50% $3,689
    Mr. Cooper ( Nationstar Mortgage ) 1 5.25% $19,108
    M&T Bank 1 6.75% $11,777
    Paramount Residential Mortgage Group, Inc. 1 7.25% $13,092
    PREMIA MORTGAGE, LLC 1 7.25% $9,894
    Sierra Pacific Mortgage Company, Inc. 1 6.13% $12,118
    Sunflower Bank 1 6.63% $12,803
    T2 FINANCIAL LLC 1 7.00% $14,894
    The Loan Store, Inc. 1 6.25% $10,654
    VAN DYK MORTGAGE CORPORATION 1 6.50% $6,604

    The top Lewiston FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 38 FHA loans originated. Their average total fees are $12,661, which is $720 higher than the next largest lender, BAY EQUITY LLC.

    The lowest fee Lewiston FHA lenders (with over 10 loans originated) are MANN FINANCIAL INC. ($11,741), BAY EQUITY LLC ($11,941), QUICKEN LOANS, LLC ($12,325), UNITED WHOLESALE MORTGAGE, LLC ($12,661) and .

    The lowest rate Lewiston FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.85%), UNITED WHOLESALE MORTGAGE, LLC (6.21%), BAY EQUITY LLC (6.69%), MANN FINANCIAL INC. (7.14%) and .

    Lewiston FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LEWISTON, ID-WA NEZ PERCE 2022 $420,680 $538,650 $651,050 $809,150
    LEWISTON, ID-WA ASOTIN 2022 $420,680 $538,650 $651,050 $809,150
    LEWISTON, ID-WA NEZ PERCE 2023 $472,030 $604,400 $730,525 $907,900
    LEWISTON, ID-WA ASOTIN 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lewiston (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 $232,188 (7.5%) $295,830 (7.8%) 0.00 211
    2018-02-01 $239,000 (11.2%) $295,371 (7.4%) 0.00 206
    2018-03-01 $246,500 (7.7%) $295,442 (12.7%) 0.00 239
    2018-04-01 $252,750 (6.2%) $297,066 (11.0%) 0.00 261
    2018-05-01 $250,500 (4.2%) $304,760 (13.7%) 0.00 286
    2018-06-01 $249,900 (4.2%) $300,576 (13.9%) 0.00 281
    2018-07-01 $250,500 (4.8%) $306,691 (17.5%) 0.00 292
    2018-08-01 $252,325 (6.5%) $307,942 (17.6%) 0.00 291
    2018-09-01 $249,500 (4.4%) $314,107 (17.0%) 0.00 273
    2018-10-01 $245,450 (6.9%) $307,675 (15.9%) 0.00 262
    2018-11-01 $239,225 (1.8%) $303,161 (8.1%) 0.00 251
    2018-12-01 $239,500 (2.6%) $315,218 (9.2%) 0.00 192
    2019-01-01 $239,925 (3.3%) $312,282 (5.6%) 0.00 170
    2019-02-01 $239,975 (0.4%) $309,539 (4.8%) 0.00 171
    2019-03-01 $250,257 (1.5%) $316,103 (7.0%) 0.00 203
    2019-04-01 $265,875 (5.2%) $327,586 (10.3%) 0.00 244
    2019-05-01 $281,125 (12.2%) $337,016 (10.6%) 0.00 132
    2019-06-01 $278,450 (11.4%) $348,751 (16.0%) 0.00 140
    2019-07-01 $287,212 (14.7%) $363,791 (18.6%) 0.00 142
    2019-08-01 $282,805 (12.1%) $359,764 (16.8%) 0.00 139
    2019-09-01 $272,761 (9.3%) $343,663 (9.4%) 0.00 146
    2019-10-01 $264,975 (8.0%) $327,642 (6.5%) 0.00 150
    2019-11-01 $259,900 (8.6%) $318,110 (4.9%) 0.00 151
    2019-12-01 $262,200 (9.5%) $327,247 (3.8%) 0.00 123
    2020-01-01 $266,125 (10.9%) $321,722 (3.0%) 0.00 102
    2020-02-01 $270,300 (12.6%) $327,075 (5.7%) 0.00 97
    2020-03-01 $267,000 (6.7%) $329,790 (4.3%) 0.00 97
    2020-04-01 $267,225 (0.5%) $335,275 (2.4%) 0.00 106
    2020-05-01 $297,000 (5.7%) $371,939 (10.4%) 0.00 98
    2020-06-01 $276,150 (-0.8%) $369,800 (6.0%) 0.00 84
    2020-07-01 $291,200 (1.4%) $380,219 (4.5%) 0.00 74
    2020-08-01 $285,000 (0.8%) $377,917 (5.1%) 0.00 83
    2020-09-01 $288,450 (5.8%) $371,529 (8.1%) 0.00 78
    2020-10-01 $289,900 (9.4%) $398,558 (21.6%) 0.00 73
    2020-11-01 $281,400 (8.3%) $413,648 (30.0%) 0.00 63
    2020-12-01 $276,425 (5.4%) $411,398 (25.7%) 0.00 50
    2021-01-01 $277,900 (4.4%) $426,857 (32.7%) 0.00 40
    2021-02-01 $319,700 (18.3%) $531,551 (62.5%) 0.00 31
    2021-03-01 $361,750 (35.5%) $555,545 (68.5%) 0.00 35
    2021-04-01 $361,475 (35.3%) $560,728 (67.2%) 0.00 34
    2021-05-01 $369,000 (24.2%) $531,825 (43.0%) 0.00 46
    2021-06-01 $349,750 (26.7%) $533,043 (44.1%) 0.00 52
    2021-07-01 $312,500 (7.3%) $488,653 (28.5%) 0.00 66
    2021-08-01 $342,500 (20.2%) $547,764 (44.9%) 0.00 94
    2021-09-01 $344,700 (19.5%) $564,421 (51.9%) 0.00 94
    2021-10-01 $354,900 (22.4%) $562,640 (41.2%) 0.00 96
    2021-11-01 $388,225 (38.0%) $580,352 (40.3%) 0.00 81
    2021-12-01 $380,000 (37.5%) $613,532 (49.1%) 0.00 66
    2022-01-01 $394,250 (41.9%) $625,021 (46.4%) 0.00 52
    2022-02-01 $401,450 (25.6%) $684,868 (28.8%) 0.00 40
    2022-03-01 $423,225 (17.0%) $658,655 (18.6%) 0.00 46
    2022-04-01 $432,500 (19.7%) $595,591 (6.2%) 0.00 67
    2022-05-01 $432,475 (17.2%) $632,952 (19.0%) 0.00 77
    2022-06-01 $444,450 (27.1%) $605,865 (13.7%) 0.00 103
    2022-07-01 $419,900 (34.4%) $552,593 (13.1%) 0.00 137
    2022-08-01 $414,950 (21.2%) $536,675 (-2.0%) 0.00 154
    2022-09-01 $432,450 (25.5%) $539,189 (-4.5%) 0.00 148
    2022-10-01 $441,825 (24.5%) $538,265 (-4.3%) 0.00 151
    2022-11-01 $433,425 (11.6%) $506,412 (-12.7%) 0.00 151
    2022-12-01 $419,000 (10.3%) $488,449 (-20.4%) 0.00 136
    2023-01-01 $417,250 (5.8%) $479,987 (-23.2%) 0.00 134
    2023-02-01 $419,500 (4.5%) $473,268 (-30.9%) 0.00 131
    2023-03-01 $413,000 (-2.4%) $482,940 (-26.7%) 0.00 111
    2023-04-01 $415,000 (-4.1%) $483,863 (-18.8%) 0.00 118
    2023-05-01 $425,900 (-1.5%) $507,323 (-19.9%) 0.00 127
    2023-06-01 $440,250 (-0.9%) $531,127 (-12.3%) 0.00 139
    2023-07-01 $430,000 (2.4%) $544,129 (-1.5%) 0.00 169
    2023-08-01 $428,000 (3.1%) $547,564 (2.0%) 0.00 186
    2023-09-01 $425,000 (-1.7%) $545,712 (1.2%) 0.00 191
    2023-10-01 $423,500 (-4.2%) $552,591 (2.7%) 0.00 191
    2023-11-01 $425,000 (-1.9%) $560,405 (10.7%) 0.00 172
    2023-12-01 $417,250 (-0.4%) $553,741 (13.4%) 0.00 147
    2024-01-01 $422,500 (1.3%) $566,680 (18.1%) 0.00 137
    2024-02-01 $416,050 (-0.8%) $564,795 (19.3%) 0.00 135
    2024-03-01 $419,500 (1.6%) $559,282 (15.8%) 0.00 129
    Lewiston's median listing price for 2024-03-01 was $419,500, a difference of $6,500 (1.6%) versus the prior year and $3,450 versus the prior month.

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

    Lewiston's average listing price for 2024-03-01 was $559,282, a difference of $76,342 (15.8%) versus the prior year and $-5,513 versus the prior month.

    For the 2024-03-01 period, Lewiston had 129 MLS listings, a difference of -6 listings (-4%) versus the prior month and 18 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lewiston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,128 sqft
    2018-02-01 0 days 2,183 sqft
    2018-03-01 0 days 2,176 sqft
    2018-04-01 0 days 2,218 sqft
    2018-05-01 0 days 2,220 sqft
    2018-06-01 0 days 2,240 sqft
    2018-07-01 0 days 2,247 sqft
    2018-08-01 0 days 2,251 sqft
    2018-09-01 0 days 2,238 sqft
    2018-10-01 0 days 2,162 sqft
    2018-11-01 0 days 2,099 sqft
    2018-12-01 0 days 2,138 sqft
    2019-01-01 0 days 2,154 sqft
    2019-02-01 0 days 2,156 sqft
    2019-03-01 0 days 2,194 sqft
    2019-04-01 0 days 2,216 sqft
    2019-05-01 0 days 2,209 sqft
    2019-06-01 0 days 2,184 sqft
    2019-07-01 0 days 2,246 sqft
    2019-08-01 0 days 2,352 sqft
    2019-09-01 0 days 2,359 sqft
    2019-10-01 0 days 2,353 sqft
    2019-11-01 0 days 2,296 sqft
    2019-12-01 0 days 2,340 sqft
    2020-01-01 0 days 2,371 sqft
    2020-02-01 0 days 2,288 sqft
    2020-03-01 0 days 2,162 sqft
    2020-04-01 0 days 2,111 sqft
    2020-05-01 0 days 2,288 sqft
    2020-06-01 0 days 2,155 sqft
    2020-07-01 0 days 2,194 sqft
    2020-08-01 0 days 2,243 sqft
    2020-09-01 0 days 2,231 sqft
    2020-10-01 0 days 2,190 sqft
    2020-11-01 0 days 2,189 sqft
    2020-12-01 0 days 2,046 sqft
    2021-01-01 0 days 1,949 sqft
    2021-02-01 0 days 2,164 sqft
    2021-03-01 0 days 2,169 sqft
    2021-04-01 0 days 1,977 sqft
    2021-05-01 0 days 2,172 sqft
    2021-06-01 0 days 2,186 sqft
    2021-07-01 0 days 2,018 sqft
    2021-08-01 0 days 2,118 sqft
    2021-09-01 0 days 1,979 sqft
    2021-10-01 0 days 2,056 sqft
    2021-11-01 0 days 2,170 sqft
    2021-12-01 0 days 2,039 sqft
    2022-01-01 0 days 2,024 sqft
    2022-02-01 0 days 2,042 sqft
    2022-03-01 0 days 2,111 sqft
    2022-04-01 0 days 2,176 sqft
    2022-05-01 0 days 2,229 sqft
    2022-06-01 0 days 2,148 sqft
    2022-07-01 0 days 2,090 sqft
    2022-08-01 0 days 2,170 sqft
    2022-09-01 0 days 2,241 sqft
    2022-10-01 0 days 2,244 sqft
    2022-11-01 0 days 2,141 sqft
    2022-12-01 0 days 2,089 sqft
    2023-01-01 0 days 2,106 sqft
    2023-02-01 0 days 2,123 sqft
    2023-03-01 0 days 2,153 sqft
    2023-04-01 0 days 2,174 sqft
    2023-05-01 0 days 2,177 sqft
    2023-06-01 0 days 2,288 sqft
    2023-07-01 0 days 2,212 sqft
    2023-08-01 0 days 2,254 sqft
    2023-09-01 0 days 2,271 sqft
    2023-10-01 0 days 2,195 sqft
    2023-11-01 0 days 2,181 sqft
    2023-12-01 0 days 2,177 sqft
    2024-01-01 0 days 2,138 sqft
    2024-02-01 0 days 2,076 sqft
    2024-03-01 0 days 2,025 sqft
    Lewiston's median listing age (time on market) for 2024-03-01 was 0 days.

    Lewiston's median square footage for active listings during the 2024-03-01 period was 2,025 sqft. One year prior, the average listing was 2,153 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).