Logan FHA Loans
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 64 lenders originated 487 FHA loans during 2021. The total origination value was $126,375,000, with an average FHA loan value of $259,497.
Logan FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Logan
averaged
5.25%
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
5.38% and
one month ago for the week of 2022-04-08, the
average rate was 4.54%.
The average rate one year ago was 2.85%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.12%.
Logan 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 Logan level.
The top Logan FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
118 FHA loans originated. Their average total fees are
$10,354, which is $3,079
higher than the next largest lender,
CALIBER HOME LOANS, INC..
The lowest fee Logan FHA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($5,022), QUICKEN LOANS, LLC ($7,021), CALIBER HOME LOANS, INC. ($7,275), STEARNS LENDING, LLC ($7,777) and UNITED WHOLESALE MORTGAGE, LLC ($8,065).
The lowest rate Logan FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.68%), CALIBER HOME LOANS, INC. (2.70%), UNITED WHOLESALE MORTGAGE, LLC (2.74%), FIRST COLONY MORTGAGE CORPORATION (2.77%) and STEARNS LENDING, LLC (2.79%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Logan (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 | $298,750 (15.8%) | $390,998 (26.4%) | 0.00 | 220 |
2018-02-01 | $319,000 (18.6%) | $434,912 (38.2%) | 0.00 | 209 |
2018-03-01 | $320,000 (12.3%) | $444,206 (31.8%) | 0.00 | 215 |
2018-04-01 | $326,950 (15.5%) | $439,261 (27.8%) | 0.00 | 255 |
2018-05-01 | $324,900 (12.1%) | $433,824 (23.5%) | 0.00 | 282 |
2018-06-01 | $318,240 (10.3%) | $420,049 (20.6%) | 0.00 | 343 |
2018-07-01 | $319,200 (8.6%) | $411,929 (15.6%) | 0.00 | 360 |
2018-08-01 | $299,900 (0.2%) | $375,483 (1.9%) | 0.00 | 359 |
2018-09-01 | $299,000 (0.4%) | $378,771 (5.3%) | 0.00 | 357 |
2018-10-01 | $299,000 (0.5%) | $385,242 (5.1%) | 0.00 | 355 |
2018-11-01 | $299,700 (1.2%) | $388,421 (2.7%) | 0.00 | 341 |
2018-12-01 | $308,499 (3.6%) | $408,309 (6.2%) | 0.00 | 288 |
2019-01-01 | $294,950 (-1.3%) | $390,212 (-0.2%) | 0.00 | 255 |
2019-02-01 | $299,700 (-6.1%) | $398,035 (-8.5%) | 0.00 | 249 |
2019-03-01 | $313,657 (-2.0%) | $414,788 (-6.6%) | 0.00 | 245 |
2019-04-01 | $335,500 (2.6%) | $429,340 (-2.3%) | 0.00 | 263 |
2019-05-01 | $346,950 (6.8%) | $440,061 (1.4%) | 0.00 | 264 |
2019-06-01 | $345,592 (8.6%) | $450,251 (7.2%) | 0.00 | 290 |
2019-07-01 | $333,635 (4.5%) | $444,869 (8.0%) | 0.00 | 304 |
2019-08-01 | $322,068 (7.4%) | $416,896 (11.0%) | 0.00 | 371 |
2019-09-01 | $318,821 (6.6%) | $398,075 (5.1%) | 0.00 | 391 |
2019-10-01 | $319,900 (7.0%) | $406,896 (5.6%) | 0.00 | 333 |
2019-11-01 | $319,000 (6.4%) | $394,239 (1.5%) | 0.00 | 316 |
2019-12-01 | $314,250 (1.9%) | $384,761 (-5.8%) | 0.00 | 279 |
2020-01-01 | $310,450 (5.3%) | $388,813 (-0.4%) | 0.00 | 237 |
2020-02-01 | $301,900 (0.7%) | $407,143 (2.3%) | 0.00 | 233 |
2020-03-01 | $314,950 (0.4%) | $424,026 (2.2%) | 0.00 | 215 |
2020-04-01 | $323,000 (-3.7%) | $440,238 (2.5%) | 0.00 | 244 |
2020-05-01 | $320,000 (-7.8%) | $442,694 (0.6%) | 0.00 | 244 |
2020-06-01 | $335,776 (-2.8%) | $461,581 (2.5%) | 0.00 | 225 |
2020-07-01 | $339,700 (1.8%) | $487,261 (9.5%) | 0.00 | 180 |
2020-08-01 | $349,900 (8.6%) | $531,290 (27.4%) | 0.00 | 125 |
2020-09-01 | $344,250 (8.0%) | $567,818 (42.6%) | 0.00 | 118 |
2020-10-01 | $365,000 (14.1%) | $623,941 (53.3%) | 0.00 | 105 |
2020-11-01 | $386,900 (21.3%) | $680,960 (72.7%) | 0.00 | 87 |
2020-12-01 | $354,900 (12.9%) | $702,275 (82.5%) | 0.00 | 79 |
2021-01-01 | $374,900 (20.8%) | $769,230 (97.8%) | 0.00 | 64 |
2021-02-01 | $499,450 (65.4%) | $931,700 (128.8%) | 0.00 | 53 |
2021-03-01 | $462,500 (46.9%) | $887,472 (109.3%) | 0.00 | 56 |
2021-04-01 | $465,000 (44.0%) | $875,475 (98.9%) | 0.00 | 64 |
2021-05-01 | $494,900 (54.7%) | $903,282 (104.0%) | 0.00 | 70 |
2021-06-01 | $517,500 (54.1%) | $900,379 (95.1%) | 0.00 | 77 |
2021-07-01 | $522,500 (53.8%) | $872,817 (79.1%) | 0.00 | 89 |
2021-08-01 | $449,950 (28.6%) | $779,151 (46.7%) | 0.00 | 115 |
2021-09-01 | $467,450 (35.8%) | $766,531 (35.0%) | 0.00 | 126 |
2021-10-01 | $495,000 (35.6%) | $823,769 (32.0%) | 0.00 | 124 |
2021-11-01 | $493,950 (27.7%) | $853,316 (25.3%) | 0.00 | 101 |
2021-12-01 | $499,950 (40.9%) | $758,426 (8.0%) | 0.00 | 81 |
2022-01-01 | $495,000 (32.0%) | $821,776 (6.8%) | 0.00 | 78 |
2022-02-01 | $527,500 (5.6%) | $857,975 (-7.9%) | 0.00 | 82 |
2022-03-01 | $535,000 (15.7%) | $889,137 (0.2%) | 0.00 | 72 |
2022-04-01 | $499,000 (7.3%) | $756,524 (-13.6%) | 0.00 | 98 |
Logan's median listing price comes in at 0% of the national average.
Logan's average listing price for 2022-04-01 was $756,524, a difference of $-118,951 (-13.6%) versus the prior year and $-132,613 versus the prior month.
For the 2022-04-01 period, Logan had 98 MLS listings, a difference of 26 listings (36%) versus the prior month and 34 listings (53%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Logan (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 3,000 sqft |
2018-02-01 | 0 days | 3,066 sqft |
2018-03-01 | 0 days | 3,117 sqft |
2018-04-01 | 0 days | 3,071 sqft |
2018-05-01 | 0 days | 3,024 sqft |
2018-06-01 | 0 days | 2,880 sqft |
2018-07-01 | 0 days | 2,888 sqft |
2018-08-01 | 0 days | 2,703 sqft |
2018-09-01 | 0 days | 2,688 sqft |
2018-10-01 | 0 days | 2,664 sqft |
2018-11-01 | 0 days | 2,665 sqft |
2018-12-01 | 0 days | 2,803 sqft |
2019-01-01 | 0 days | 2,705 sqft |
2019-02-01 | 0 days | 2,619 sqft |
2019-03-01 | 0 days | 2,731 sqft |
2019-04-01 | 0 days | 2,930 sqft |
2019-05-01 | 0 days | 2,991 sqft |
2019-06-01 | 0 days | 3,090 sqft |
2019-07-01 | 0 days | 2,896 sqft |
2019-08-01 | 0 days | 2,760 sqft |
2019-09-01 | 0 days | 2,726 sqft |
2019-10-01 | 0 days | 2,717 sqft |
2019-11-01 | 0 days | 2,648 sqft |
2019-12-01 | 0 days | 2,588 sqft |
2020-01-01 | 0 days | 2,601 sqft |
2020-02-01 | 0 days | 2,415 sqft |
2020-03-01 | 0 days | 2,563 sqft |
2020-04-01 | 0 days | 2,490 sqft |
2020-05-01 | 0 days | 2,486 sqft |
2020-06-01 | 0 days | 2,646 sqft |
2020-07-01 | 0 days | 2,717 sqft |
2020-08-01 | 0 days | 2,834 sqft |
2020-09-01 | 0 days | 2,729 sqft |
2020-10-01 | 0 days | 2,741 sqft |
2020-11-01 | 0 days | 2,793 sqft |
2020-12-01 | 0 days | 2,737 sqft |
2021-01-01 | 0 days | 2,598 sqft |
2021-02-01 | 0 days | 2,862 sqft |
2021-03-01 | 0 days | 3,078 sqft |
2021-04-01 | 0 days | 2,855 sqft |
2021-05-01 | 0 days | 2,855 sqft |
2021-06-01 | 0 days | 2,829 sqft |
2021-07-01 | 0 days | 2,842 sqft |
2021-08-01 | 0 days | 2,619 sqft |
2021-09-01 | 0 days | 2,673 sqft |
2021-10-01 | 0 days | 2,732 sqft |
2021-11-01 | 0 days | 2,762 sqft |
2021-12-01 | 0 days | 2,598 sqft |
2022-01-01 | 0 days | 2,487 sqft |
2022-02-01 | 0 days | 2,618 sqft |
2022-03-01 | 0 days | 2,611 sqft |
2022-04-01 | 0 days | 2,524 sqft |
Logan's median square footage for active listings during the 2022-04-01 period was 2,524 sqft. One year prior, the average listing was 2,855 sqft.