Lewiston FHA Loans
LEWISTON, ID-WA
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 299 FHA loans during 2021. The total origination value was $67,585,000, with an average FHA loan value of $226,037.
Lewiston FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Lewiston
averaged
5.1%
for the week of 2022-05-13, compared to the national average (all FHA variants) of
5.361% for the same period.
The average rate for the prior week (2022-05-06) was
5.43% and
one month ago for the week of 2022-04-08, the
average rate was 4.99%.
The average rate one year ago was 3.2%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.08%.
Lewiston FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Lewiston level.
The top Lewiston FHA lender as defined by loan originations is SUMMIT FUNDING, INC., with
56 FHA loans originated. Their average total fees are
$10,876, which is $2,986
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Lewiston FHA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($4,971), QUICKEN LOANS, LLC ($7,889), HOMEBRIDGE FINANCIAL SERVICES, INC. ($8,150), AMERICAN PACIFIC MORTGAGE CORPORATION ($8,633) and BAY EQUITY LLC ($9,333).
The lowest rate Lewiston FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.68%), FREEDOM MORTGAGE CORPORATION (3.01%), HOMEBRIDGE FINANCIAL SERVICES, INC. (3.04%), BAY EQUITY LLC (3.07%) and AMERICAN PACIFIC MORTGAGE CORPORATION (3.28%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Lewiston (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $229,500 (5.8%) | $289,668 (-3.5%) | 0.00 | 223 |
2018-02-01 | $237,900 (10.7%) | $288,260 (-4.1%) | 0.00 | 208 |
2018-03-01 | $240,000 (4.4%) | $288,335 (8.9%) | 0.00 | 244 |
2018-04-01 | $249,900 (4.6%) | $294,245 (8.7%) | 0.00 | 270 |
2018-05-01 | $249,950 (4.2%) | $304,655 (13.0%) | 0.00 | 298 |
2018-06-01 | $249,900 (4.2%) | $301,453 (14.6%) | 0.00 | 295 |
2018-07-01 | $253,500 (6.1%) | $318,246 (22.2%) | 0.00 | 299 |
2018-08-01 | $252,500 (5.7%) | $320,118 (20.4%) | 0.00 | 295 |
2018-09-01 | $254,000 (6.3%) | $334,303 (24.1%) | 0.00 | 278 |
2018-10-01 | $247,250 (6.8%) | $327,402 (22.1%) | 0.00 | 265 |
2018-11-01 | $239,900 (0.4%) | $324,271 (15.2%) | 0.00 | 254 |
2018-12-01 | $240,000 (3.1%) | $343,458 (20.7%) | 0.00 | 195 |
2019-01-01 | $244,750 (6.6%) | $345,728 (19.4%) | 0.00 | 179 |
2019-02-01 | $249,450 (4.9%) | $340,556 (18.1%) | 0.00 | 185 |
2019-03-01 | $249,386 (3.9%) | $335,174 (16.2%) | 0.00 | 248 |
2019-04-01 | $249,950 (0.0%) | $332,065 (12.9%) | 0.00 | 326 |
2019-05-01 | $292,375 (17.0%) | $368,774 (21.1%) | 0.00 | 144 |
2019-06-01 | $287,500 (15.1%) | $391,008 (29.7%) | 0.00 | 144 |
2019-07-01 | $288,500 (13.8%) | $382,544 (20.2%) | 0.00 | 146 |
2019-08-01 | $283,286 (12.2%) | $376,343 (17.6%) | 0.00 | 146 |
2019-09-01 | $278,036 (9.5%) | $362,175 (8.3%) | 0.00 | 163 |
2019-10-01 | $272,000 (10.0%) | $350,500 (7.1%) | 0.00 | 160 |
2019-11-01 | $259,900 (8.3%) | $335,274 (3.4%) | 0.00 | 157 |
2019-12-01 | $263,700 (9.9%) | $350,689 (2.1%) | 0.00 | 130 |
2020-01-01 | $268,700 (9.8%) | $331,676 (-4.1%) | 0.00 | 105 |
2020-02-01 | $275,000 (10.2%) | $333,516 (-2.1%) | 0.00 | 100 |
2020-03-01 | $272,400 (9.2%) | $331,996 (-1.0%) | 0.00 | 100 |
2020-04-01 | $274,250 (9.7%) | $343,869 (3.6%) | 0.00 | 109 |
2020-05-01 | $325,000 (11.2%) | $416,257 (12.9%) | 0.00 | 100 |
2020-06-01 | $298,450 (3.8%) | $420,210 (7.5%) | 0.00 | 82 |
2020-07-01 | $322,500 (11.8%) | $436,845 (14.2%) | 0.00 | 73 |
2020-08-01 | $297,000 (4.8%) | $423,919 (12.6%) | 0.00 | 82 |
2020-09-01 | $322,450 (16.0%) | $420,533 (16.1%) | 0.00 | 81 |
2020-10-01 | $308,900 (13.6%) | $448,801 (28.1%) | 0.00 | 77 |
2020-11-01 | $317,450 (22.1%) | $468,327 (39.7%) | 0.00 | 68 |
2020-12-01 | $299,950 (13.8%) | $468,807 (33.7%) | 0.00 | 48 |
2021-01-01 | $299,900 (11.6%) | $473,361 (42.7%) | 0.00 | 40 |
2021-02-01 | $352,250 (28.1%) | $550,318 (65.0%) | 0.00 | 30 |
2021-03-01 | $366,950 (34.7%) | $551,788 (66.2%) | 0.00 | 35 |
2021-04-01 | $363,500 (32.5%) | $589,285 (71.4%) | 0.00 | 35 |
2021-05-01 | $369,000 (13.5%) | $553,258 (32.9%) | 0.00 | 46 |
2021-06-01 | $354,450 (18.8%) | $553,265 (31.7%) | 0.00 | 52 |
2021-07-01 | $331,000 (2.6%) | $508,387 (16.4%) | 0.00 | 62 |
2021-08-01 | $359,400 (21.0%) | $554,148 (30.7%) | 0.00 | 93 |
2021-09-01 | $354,500 (9.9%) | $575,575 (36.9%) | 0.00 | 95 |
2021-10-01 | $374,900 (21.4%) | $572,496 (27.6%) | 0.00 | 98 |
2021-11-01 | $390,000 (22.9%) | $590,751 (26.1%) | 0.00 | 89 |
2021-12-01 | $384,500 (28.2%) | $607,516 (29.6%) | 0.00 | 71 |
2022-01-01 | $418,000 (39.4%) | $640,192 (35.2%) | 0.00 | 57 |
2022-02-01 | $431,250 (22.4%) | $714,083 (29.8%) | 0.00 | 45 |
2022-03-01 | $415,000 (13.1%) | $667,034 (20.9%) | 0.00 | 44 |
2022-04-01 | $435,000 (19.7%) | $622,802 (5.7%) | 0.00 | 62 |
Lewiston's median listing price comes in at 0% of the national average.
Lewiston's average listing price for 2022-04-01 was $622,802, a difference of $33,517 (5.7%) versus the prior year and $-44,232 versus the prior month.
For the 2022-04-01 period, Lewiston had 62 MLS listings, a difference of 18 listings (41%) versus the prior month and 27 listings (77%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Lewiston (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,119 sqft |
2018-02-01 | 0 days | 2,153 sqft |
2018-03-01 | 0 days | 2,175 sqft |
2018-04-01 | 0 days | 2,216 sqft |
2018-05-01 | 0 days | 2,216 sqft |
2018-06-01 | 0 days | 2,240 sqft |
2018-07-01 | 0 days | 2,256 sqft |
2018-08-01 | 0 days | 2,262 sqft |
2018-09-01 | 0 days | 2,260 sqft |
2018-10-01 | 0 days | 2,198 sqft |
2018-11-01 | 0 days | 2,114 sqft |
2018-12-01 | 0 days | 2,166 sqft |
2019-01-01 | 0 days | 2,149 sqft |
2019-02-01 | 0 days | 2,109 sqft |
2019-03-01 | 0 days | 2,134 sqft |
2019-04-01 | 0 days | 2,128 sqft |
2019-05-01 | 0 days | 2,203 sqft |
2019-06-01 | 0 days | 2,184 sqft |
2019-07-01 | 0 days | 2,237 sqft |
2019-08-01 | 0 days | 2,335 sqft |
2019-09-01 | 0 days | 2,368 sqft |
2019-10-01 | 0 days | 2,348 sqft |
2019-11-01 | 0 days | 2,264 sqft |
2019-12-01 | 0 days | 2,301 sqft |
2020-01-01 | 0 days | 2,342 sqft |
2020-02-01 | 0 days | 2,288 sqft |
2020-03-01 | 0 days | 2,110 sqft |
2020-04-01 | 0 days | 2,058 sqft |
2020-05-01 | 0 days | 2,339 sqft |
2020-06-01 | 0 days | 2,190 sqft |
2020-07-01 | 0 days | 2,204 sqft |
2020-08-01 | 0 days | 2,413 sqft |
2020-09-01 | 0 days | 2,298 sqft |
2020-10-01 | 0 days | 2,200 sqft |
2020-11-01 | 0 days | 2,204 sqft |
2020-12-01 | 0 days | 2,150 sqft |
2021-01-01 | 0 days | 2,024 sqft |
2021-02-01 | 0 days | 2,074 sqft |
2021-03-01 | 0 days | 2,166 sqft |
2021-04-01 | 0 days | 2,005 sqft |
2021-05-01 | 0 days | 2,178 sqft |
2021-06-01 | 0 days | 2,184 sqft |
2021-07-01 | 0 days | 2,089 sqft |
2021-08-01 | 0 days | 2,110 sqft |
2021-09-01 | 0 days | 1,960 sqft |
2021-10-01 | 0 days | 2,056 sqft |
2021-11-01 | 0 days | 2,224 sqft |
2021-12-01 | 0 days | 2,040 sqft |
2022-01-01 | 0 days | 2,036 sqft |
2022-02-01 | 0 days | 2,036 sqft |
2022-03-01 | 0 days | 2,071 sqft |
2022-04-01 | 0 days | 2,036 sqft |
Lewiston's median square footage for active listings during the 2022-04-01 period was 2,036 sqft. One year prior, the average listing was 2,005 sqft.