Logan FHA Loan Rates, Closing Costs & Stats

LOGAN, UT-ID

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.

Logan's 44 lenders originated 323 FHA loans during 2022. The total origination value was $100,475,000, with an average FHA loan value of $311,068.

Logan FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Logan averaged -0.65% for the week of 2024-02-23, compared to the national average (all FHA variants) of 0% for the same period.

Logan's average FHA mortgage closing costs are $8,464.

The average rate for the prior week (2024-02-16) was 6.09% and one month ago for the week of 2024-01-19, the average rate was 5.84%.

The average rate one year ago was 6%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.17%.

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

Logan 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 Logan level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
GUILD MORTGAGE COMPANY 56 4.66% $12,361
UNITED WHOLESALE MORTGAGE, LLC 26 4.81% $11,479
CALIBER HOME LOANS, INC. 20 4.05% $9,882
FIRST COLONY MORTGAGE CORPORATION 18 4.99% $13,508
Sierra Pacific Mortgage Company, Inc. 12 5.11% $9,984
INTERCAP LENDING INC. 11 4.68% $14,142
QUICKEN LOANS, LLC 10 4.04% $14,113
SECURITYNATIONAL MORTGAGE COMPANY 8 5.39% $13,515
ACADEMY MORTGAGE CORPORATION 6 4.90% $14,036
HOME POINT FINANCIAL CORPORATION 6 5.58% $10,950
AMERISAVE MORTGAGE CORPORATION 6 5.04% $11,403
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 5.40% $16,852
Bank of Utah 5 4.35% $10,693
DIRECT MORTGAGE, CORP. 3 3.79% $22,776
BROKER SOLUTIONS, INC. 3 5.53% $16,758
CITYWIDE HOME LOANS, LLC 3 5.25% $15,606
Northpointe Bank 3 4.17% $15,716
FREEDOM MORTGAGE CORPORATION 3 4.75% $12,255
PENNYMAC LOAN SERVICES, LLC 3 3.50% $11,237
SUN WEST MORTGAGE COMPANY, INC. 2 4.94% $10,297
AMERICA FIRST 2 3.94% $13,487
Cache Valley Bank 2 4.56% $7,272
Carrington Mortgage Services, LLC 2 4.31% $14,269
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.31% $10,357
Glacier Bank 2 5.13% $10,442
LAKEVIEW LOAN SERVICING, LLC 2 2.99% $5,915
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 4.38% $11,721
The Federal Savings Bank 2 5.19% $15,881
North American Savings Bank, F.S.B. 1 5.38% $7,362
MOVEMENT MORTGAGE, LLC 1 4.13% $12,121
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 5.75% $13,689
LOANDEPOT.COM, LLC 1 4.99% $12,327
Plains Commerce Bank 1 4.13% $9,376
GOLDENWEST 1 6.13% $10,585
VILLAGE CAPITAL MORTGAGE 1 2.75% $9,028
Flagstar Bank, FSB 1 5.23% $6,778
Equity Prime Mortgage LLC 1 6.25% $19,166
EMBRACE HOME LOANS, INC. 1 3.75% $11,557
CROSSCOUNTRY MORTGAGE, LLC 1 6.88% $14,794
Wyndham Capital Mortgage, Inc. 1 4.63% $12,965
Century Mortgage Company DBA Century Lending Company 1 5.25% $11,770
Utah Mortgage Loan Corporation 1 4.13% $15,793
Network Funding, L.P. 1 5.25% $13,936
NEWREZ LLC 1 6.13% $10,359

The top Logan FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 56 FHA loans originated. Their average total fees are $12,361, which is $882 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Logan FHA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. ($9,882), Sierra Pacific Mortgage Company, Inc. ($9,984), UNITED WHOLESALE MORTGAGE, LLC ($11,479), GUILD MORTGAGE COMPANY ($12,361) and FIRST COLONY MORTGAGE CORPORATION ($13,508).

The lowest rate Logan FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.04%), CALIBER HOME LOANS, INC. (4.05%), GUILD MORTGAGE COMPANY (4.66%), INTERCAP LENDING INC. (4.68%) and UNITED WHOLESALE MORTGAGE, LLC (4.81%).

Logan FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
LOGAN, UT-ID FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
LOGAN, UT-ID CACHE 2022 $420,680 $538,650 $651,050 $809,150
LOGAN, UT-ID FRANKLIN 2023 $492,200 $630,100 $761,650 $946,550
LOGAN, UT-ID CACHE 2023 $492,200 $630,100 $761,650 $946,550

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Logan (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 $299,325 (15.4%) $391,550 (26.1%) 0.00 219
2018-02-01 $309,450 (15.0%) $433,201 (37.5%) 0.00 212
2018-03-01 $320,000 (12.8%) $438,209 (30.6%) 0.00 220
2018-04-01 $326,675 (15.4%) $438,440 (28.0%) 0.00 257
2018-05-01 $324,900 (12.2%) $428,219 (21.7%) 0.00 285
2018-06-01 $314,000 (10.3%) $418,252 (20.5%) 0.00 345
2018-07-01 $318,875 (10.0%) $406,795 (14.5%) 0.00 361
2018-08-01 $299,950 (0.2%) $371,914 (0.3%) 0.00 363
2018-09-01 $299,250 (1.8%) $384,436 (7.0%) 0.00 360
2018-10-01 $299,475 (0.5%) $390,555 (6.6%) 0.00 357
2018-11-01 $299,900 (1.1%) $395,472 (4.3%) 0.00 343
2018-12-01 $308,499 (3.7%) $419,904 (9.5%) 0.00 291
2019-01-01 $295,975 (-1.1%) $402,629 (2.8%) 0.00 255
2019-02-01 $299,900 (-3.1%) $409,758 (-5.4%) 0.00 254
2019-03-01 $314,214 (-1.8%) $418,292 (-4.5%) 0.00 250
2019-04-01 $333,644 (2.1%) $425,139 (-3.0%) 0.00 264
2019-05-01 $346,950 (6.8%) $437,271 (2.1%) 0.00 267
2019-06-01 $341,450 (8.7%) $441,770 (5.6%) 0.00 289
2019-07-01 $332,400 (4.2%) $427,303 (5.0%) 0.00 300
2019-08-01 $325,836 (8.6%) $418,635 (12.6%) 0.00 302
2019-09-01 $319,741 (6.9%) $406,641 (5.8%) 0.00 314
2019-10-01 $318,127 (6.2%) $400,008 (2.4%) 0.00 329
2019-11-01 $319,450 (6.5%) $390,399 (-1.3%) 0.00 314
2019-12-01 $315,825 (2.4%) $381,399 (-9.2%) 0.00 275
2020-01-01 $309,900 (4.7%) $382,605 (-5.0%) 0.00 238
2020-02-01 $300,950 (0.4%) $396,064 (-3.3%) 0.00 232
2020-03-01 $315,000 (0.3%) $413,729 (-1.1%) 0.00 217
2020-04-01 $325,725 (-2.4%) $433,792 (2.0%) 0.00 242
2020-05-01 $319,900 (-7.8%) $438,334 (0.2%) 0.00 242
2020-06-01 $336,388 (-1.5%) $455,931 (3.2%) 0.00 224
2020-07-01 $339,900 (2.3%) $488,006 (14.2%) 0.00 180
2020-08-01 $350,000 (7.4%) $538,768 (28.7%) 0.00 122
2020-09-01 $351,800 (10.0%) $587,600 (44.5%) 0.00 117
2020-10-01 $367,450 (15.5%) $654,902 (63.7%) 0.00 108
2020-11-01 $389,900 (22.1%) $714,533 (83.0%) 0.00 87
2020-12-01 $369,950 (17.1%) $723,006 (89.6%) 0.00 81
2021-01-01 $415,000 (33.9%) $804,935 (110.4%) 0.00 63
2021-02-01 $512,500 (70.3%) $971,300 (145.2%) 0.00 54
2021-03-01 $461,225 (46.4%) $915,053 (121.2%) 0.00 56
2021-04-01 $479,125 (47.1%) $893,708 (106.0%) 0.00 62
2021-05-01 $477,500 (49.3%) $925,741 (111.2%) 0.00 66
2021-06-01 $512,500 (52.4%) $914,784 (100.6%) 0.00 75
2021-07-01 $519,900 (53.0%) $882,906 (80.9%) 0.00 91
2021-08-01 $453,450 (29.6%) $790,052 (46.6%) 0.00 114
2021-09-01 $471,200 (33.9%) $781,907 (33.1%) 0.00 121
2021-10-01 $499,800 (36.0%) $844,660 (29.0%) 0.00 117
2021-11-01 $520,750 (33.6%) $883,335 (23.6%) 0.00 96
2021-12-01 $512,500 (38.5%) $774,478 (7.1%) 0.00 79
2022-01-01 $495,000 (19.3%) $812,113 (0.9%) 0.00 79
2022-02-01 $529,475 (3.3%) $853,410 (-12.1%) 0.00 83
2022-03-01 $535,725 (16.2%) $910,883 (-0.5%) 0.00 71
2022-04-01 $504,450 (5.3%) $760,747 (-14.9%) 0.00 96
2022-05-01 $520,000 (8.9%) $699,528 (-24.4%) 0.00 170
2022-06-01 $532,950 (4.0%) $654,534 (-28.5%) 0.00 243
2022-07-01 $524,900 (1.0%) $618,486 (-30.0%) 0.00 313
2022-08-01 $509,500 (12.4%) $613,338 (-22.4%) 0.00 353
2022-09-01 $513,975 (9.1%) $638,292 (-18.4%) 0.00 331
2022-10-01 $499,999 (0.0%) $650,141 (-23.0%) 0.00 326
2022-11-01 $499,700 (-4.0%) $644,837 (-27.0%) 0.00 328
2022-12-01 $499,999 (-2.4%) $630,011 (-18.7%) 0.00 291
2023-01-01 $510,700 (3.2%) $617,319 (-24.0%) 0.00 258
2023-02-01 $499,900 (-5.6%) $624,248 (-26.9%) 0.00 255
2023-03-01 $499,200 (-6.8%) $615,709 (-32.4%) 0.00 266
2023-04-01 $495,000 (-1.9%) $615,789 (-19.1%) 0.00 277
2023-05-01 $492,000 (-5.4%) $611,607 (-12.6%) 0.00 281
2023-06-01 $480,000 (-9.9%) $585,764 (-10.5%) 0.00 346
2023-07-01 $485,000 (-7.6%) $584,002 (-5.6%) 0.00 362
2023-08-01 $489,500 (-3.9%) $577,089 (-5.9%) 0.00 384
2023-09-01 $499,900 (-2.7%) $629,530 (-1.4%) 0.00 377
2023-10-01 $499,675 (-0.1%) $633,000 (-2.6%) 0.00 376
2023-11-01 $499,950 (0.1%) $642,854 (-0.3%) 0.00 353
2023-12-01 $495,000 (-1.0%) $635,175 (0.8%) 0.00 311
Logan's median listing price for 2023-12-01 was $495,000, a difference of $-4,999 (-1.0%) versus the prior year and $-4,950 versus the prior month.

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

Logan's average listing price for 2023-12-01 was $635,175, a difference of $5,164 (0.8%) versus the prior year and $-7,679 versus the prior month.

For the 2023-12-01 period, Logan had 311 MLS listings, a difference of -42 listings (-12%) versus the prior month and 20 listings (7%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Logan (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,999 sqft
2018-02-01 0 days 3,059 sqft
2018-03-01 0 days 3,117 sqft
2018-04-01 0 days 3,092 sqft
2018-05-01 0 days 2,942 sqft
2018-06-01 0 days 2,890 sqft
2018-07-01 0 days 2,900 sqft
2018-08-01 0 days 2,706 sqft
2018-09-01 0 days 2,688 sqft
2018-10-01 0 days 2,676 sqft
2018-11-01 0 days 2,674 sqft
2018-12-01 0 days 2,822 sqft
2019-01-01 0 days 2,703 sqft
2019-02-01 0 days 2,644 sqft
2019-03-01 0 days 2,723 sqft
2019-04-01 0 days 2,932 sqft
2019-05-01 0 days 3,004 sqft
2019-06-01 0 days 3,090 sqft
2019-07-01 0 days 2,880 sqft
2019-08-01 0 days 2,792 sqft
2019-09-01 0 days 2,737 sqft
2019-10-01 0 days 2,695 sqft
2019-11-01 0 days 2,647 sqft
2019-12-01 0 days 2,591 sqft
2020-01-01 0 days 2,560 sqft
2020-02-01 0 days 2,432 sqft
2020-03-01 0 days 2,509 sqft
2020-04-01 0 days 2,436 sqft
2020-05-01 0 days 2,460 sqft
2020-06-01 0 days 2,585 sqft
2020-07-01 0 days 2,675 sqft
2020-08-01 0 days 2,816 sqft
2020-09-01 0 days 2,677 sqft
2020-10-01 0 days 2,737 sqft
2020-11-01 0 days 2,734 sqft
2020-12-01 0 days 2,578 sqft
2021-01-01 0 days 2,588 sqft
2021-02-01 0 days 2,811 sqft
2021-03-01 0 days 2,770 sqft
2021-04-01 0 days 2,777 sqft
2021-05-01 0 days 2,800 sqft
2021-06-01 0 days 2,818 sqft
2021-07-01 0 days 2,693 sqft
2021-08-01 0 days 2,581 sqft
2021-09-01 0 days 2,596 sqft
2021-10-01 0 days 2,734 sqft
2021-11-01 0 days 2,866 sqft
2021-12-01 0 days 2,585 sqft
2022-01-01 0 days 2,393 sqft
2022-02-01 0 days 2,613 sqft
2022-03-01 0 days 2,563 sqft
2022-04-01 0 days 2,510 sqft
2022-05-01 0 days 2,475 sqft
2022-06-01 0 days 2,480 sqft
2022-07-01 0 days 2,487 sqft
2022-08-01 0 days 2,487 sqft
2022-09-01 0 days 2,490 sqft
2022-10-01 0 days 2,500 sqft
2022-11-01 0 days 2,502 sqft
2022-12-01 0 days 2,518 sqft
2023-01-01 0 days 2,545 sqft
2023-02-01 0 days 2,593 sqft
2023-03-01 0 days 2,584 sqft
2023-04-01 0 days 2,487 sqft
2023-05-01 0 days 2,481 sqft
2023-06-01 0 days 2,417 sqft
2023-07-01 0 days 2,366 sqft
2023-08-01 0 days 2,328 sqft
2023-09-01 0 days 2,506 sqft
2023-10-01 0 days 2,549 sqft
2023-11-01 0 days 2,582 sqft
2023-12-01 0 days 2,515 sqft
Logan's median listing age (time on market) for 2023-12-01 was 0 days.

Logan's median square footage for active listings during the 2023-12-01 period was 2,515 sqft. One year prior, the average listing was 2,518 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).