Longview FHA Loan Rates, Closing Costs & Stats

LONGVIEW, 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.

    Longview's 76 lenders originated 490 FHA loans during 2022. The total origination value was $147,170,000, with an average FHA loan value of $300,347.

    Longview FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Longview averaged -0.49% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

    Longview's average FHA mortgage closing costs are $9,126.

    The average rate for the prior week (2023-11-17) was 6.81% and one month ago for the week of 2023-10-20, the average rate was 7.01%.

    The average rate one year ago was 6.24%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.58%.

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

    Longview 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 Longview level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 76 5.44% $12,418
    MANN FINANCIAL INC. 30 5.25% $13,424
    QUICKEN LOANS, LLC 23 4.35% $11,212
    ACADEMY MORTGAGE CORPORATION 23 5.11% $13,636
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 14 5.12% $14,412
    CARDINAL FINANCIAL 14 5.10% $14,740
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 5.92% $13,393
    UNITED WHOLESALE MORTGAGE, LLC 13 4.94% $10,644
    FINANCE OF AMERICA MORTGAGE LLC 13 4.86% $13,209
    CALIBER HOME LOANS, INC. 12 4.52% $10,944
    Hometown Lenders, Inc. 10 5.90% $15,060
    PENNYMAC LOAN SERVICES, LLC 9 3.49% $10,970
    FREEDOM MORTGAGE CORPORATION 8 4.59% $9,529
    Gateway First Bank 8 4.78% $7,422
    MOVEMENT MORTGAGE, LLC 8 5.55% $11,651
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 6 5.94% $11,511
    SUMMIT MORTGAGE CORPORATION 6 5.83% $11,597
    PRIMARY RESIDENTIAL MORTGAGE, INC. 6 5.02% $10,652
    LOANDEPOT.COM, LLC 6 4.69% $17,368
    S1L, Inc. 5 6.05% $11,048
    Willamette Valley Bank 5 4.03% $15,631
    AMERICAN FINANCING CORPORATION 4 3.13% $9,189
    CMG MORTGAGE, INC. 4 5.47% $11,570
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 5.50% $11,398
    HOME POINT FINANCIAL CORPORATION 4 3.81% $10,097
    CROSSCOUNTRY MORTGAGE, LLC 4 5.63% $16,587
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 4.17% $9,032
    NATIONS DIRECT MORTGAGE, LLC 3 4.96% $13,937
    Umpqua Bank 3 4.04% $13,302
    AMERISAVE MORTGAGE CORPORATION 3 3.79% $8,534
    Flagstar Bank, FSB 2 4.56% $11,961
    AMERICAN FINANCIAL RESOURCES, INC. 2 3.38% $11,219
    BROKER SOLUTIONS, INC. 2 3.69% $11,213
    CORNERSTONE HOME LENDING, INC. 2 6.88% $12,871
    DIRECTORS MORTGAGE, INC. 2 6.69% $15,571
    GENEVA FINANCIAL, LLC 2 5.75% $11,497
    KELLER MORTGAGE, LLC 2 3.94% $8,785
    LAKEVIEW LOAN SERVICING, LLC 2 3.44% $6,977
    Loan Simple, Inc. 2 5.50% $13,499
    MID AMERICA MORTGAGE, INC. 2 5.06% $3,162
    NEWREZ LLC 2 4.94% $10,548
    PACIFIC RESIDENTIAL MORTGAGE, LLC 2 3.69% $11,252
    First Guaranty Mortgage Corporation 1 3.13% $14,490
    U.S. Bank 1 3.63% $7,232
    EVERETT FINANCIAL, INC. 1 5.88% $6,868
    VERITAS FUNDING, LLC 1 6.75% $21,919
    Mortgage Research Center, LLC 1 3.63% $11,365
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $12,694
    Equity Prime Mortgage LLC 1 3.88% $13,032
    MUTUAL OF OMAHA MORTGAGE, INC. 1 2.63% $14,708
    Commerce Home Mortgage, Inc. 1 5.25% $11,623
    Nations Lending Corporation 1 3.63% $16,106
    Wells Fargo Bank 1 4.88% $7,024
    OnPoint Community Credit Union 1 5.00% $12,158
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.63% $6,350
    PANORAMA MORTGAGE GROUP, LLC 1 5.63% $13,352
    Paramount Residential Mortgage Group, Inc. 1 5.25% $14,567
    CHURCHILL MORTGAGE CORPORATION 1 4.75% $14,000
    PENRITH HOME LOANS LLC 1 4.13% $9,344
    PLANET HOME LENDING, LLC 1 5.63% $13,076
    PREMIA MORTGAGE, LLC 1 2.50% $11,744
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 4.38% $23,582
    CHERRY CREEK MORTGAGE, LLC 1 5.75% $7,024
    Prosperity Home Mortgage, LLC 1 6.49% $11,842
    Carrington Mortgage Services, LLC 1 3.38% $9,181
    RANLIFE, INC. 1 6.63% $11,065
    CANOPY MORTGAGE, LLC 1 5.25% $9,655
    Sierra Pacific Mortgage Company, Inc. 1 4.63% $13,312
    Summit Mortgage Corporation 1 6.49% $17,147
    BAY EQUITY LLC 1 5.25% $16,083
    GUARANTEED RATE, INC. 1 5.88% $9,589
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 2.99% $20,199
    1st Security Bank of Washington 1 7.63% $8,512
    AXIA FINANCIAL, LLC 1 5.38% $8,281
    LADERA LENDING, INC. 1 4.63% $15,073
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 4.75% $13,701

    The top Longview FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 76 FHA loans originated. Their average total fees are $12,418, which is $1,006 lower than the next largest lender, MANN FINANCIAL INC..

    The lowest fee Longview FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($10,644), CALIBER HOME LOANS, INC. ($10,944), QUICKEN LOANS, LLC ($11,212), GUILD MORTGAGE COMPANY ($12,418) and FINANCE OF AMERICA MORTGAGE LLC ($13,209).

    The lowest rate Longview FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.35%), CALIBER HOME LOANS, INC. (4.52%), FINANCE OF AMERICA MORTGAGE LLC (4.86%), UNITED WHOLESALE MORTGAGE, LLC (4.94%) and CARDINAL FINANCIAL (5.10%).

    Longview FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LONGVIEW, WA COWLITZ 2022 $420,680 $538,650 $651,050 $809,150
    LONGVIEW, WA COWLITZ 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Longview (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 $295,125 (16.2%) $460,941 (8.6%) 0.00 200
    2018-02-01 $317,450 (28.4%) $484,845 (11.1%) 0.00 172
    2018-03-01 $308,500 (28.9%) $471,797 (10.2%) 0.00 161
    2018-04-01 $307,025 (9.9%) $416,734 (-2.7%) 0.00 188
    2018-05-01 $305,714 (10.3%) $410,713 (1.2%) 0.00 223
    2018-06-01 $309,900 (5.4%) $404,732 (-3.9%) 0.00 254
    2018-07-01 $302,500 (-4.0%) $386,903 (-11.9%) 0.00 309
    2018-08-01 $299,900 (0.0%) $378,306 (-8.7%) 0.00 328
    2018-09-01 $307,000 (2.6%) $382,990 (-7.3%) 0.00 329
    2018-10-01 $310,725 (8.3%) $389,460 (-4.5%) 0.00 333
    2018-11-01 $307,238 (7.6%) $387,732 (-5.8%) 0.00 321
    2018-12-01 $319,000 (10.4%) $403,452 (-7.8%) 0.00 281
    2019-01-01 $325,575 (10.3%) $413,525 (-10.3%) 0.00 256
    2019-02-01 $319,900 (0.8%) $416,914 (-14.0%) 0.00 222
    2019-03-01 $323,864 (5.0%) $420,890 (-10.8%) 0.00 212
    2019-04-01 $328,489 (7.0%) $424,767 (1.9%) 0.00 213
    2019-05-01 $330,550 (8.1%) $441,176 (7.4%) 0.00 227
    2019-06-01 $329,900 (6.5%) $433,756 (7.2%) 0.00 256
    2019-07-01 $329,925 (9.1%) $427,862 (10.6%) 0.00 275
    2019-08-01 $324,950 (8.4%) $417,498 (10.4%) 0.00 293
    2019-09-01 $317,525 (3.4%) $408,464 (6.7%) 0.00 296
    2019-10-01 $312,950 (0.7%) $402,469 (3.3%) 0.00 298
    2019-11-01 $325,000 (5.8%) $426,252 (9.9%) 0.00 292
    2019-12-01 $312,450 (-2.1%) $445,420 (10.4%) 0.00 245
    2020-01-01 $311,175 (-4.4%) $454,436 (9.9%) 0.00 236
    2020-02-01 $316,250 (-1.1%) $466,004 (11.8%) 0.00 208
    2020-03-01 $321,200 (-0.8%) $477,536 (13.5%) 0.00 198
    2020-04-01 $330,375 (0.6%) $487,165 (14.7%) 0.00 190
    2020-05-01 $334,900 (1.3%) $477,244 (8.2%) 0.00 194
    2020-06-01 $343,225 (4.0%) $392,894 (-9.4%) 0.00 207
    2020-07-01 $349,390 (5.9%) $404,433 (-5.5%) 0.00 197
    2020-08-01 $354,995 (9.3%) $407,067 (-2.5%) 0.00 213
    2020-09-01 $364,925 (14.9%) $422,818 (3.5%) 0.00 210
    2020-10-01 $362,200 (15.7%) $414,307 (2.9%) 0.00 184
    2020-11-01 $362,450 (11.5%) $412,674 (-3.2%) 0.00 122
    2020-12-01 $359,375 (15.0%) $410,810 (-7.8%) 0.00 93
    2021-01-01 $369,000 (18.6%) $431,826 (-5.0%) 0.00 74
    2021-02-01 $372,400 (17.8%) $453,188 (-2.8%) 0.00 67
    2021-03-01 $380,250 (18.4%) $470,964 (-1.4%) 0.00 71
    2021-04-01 $397,475 (20.3%) $552,002 (13.3%) 0.00 80
    2021-05-01 $390,000 (16.5%) $535,294 (12.2%) 0.00 99
    2021-06-01 $404,450 (17.8%) $542,034 (38.0%) 0.00 120
    2021-07-01 $389,500 (11.5%) $483,151 (19.5%) 0.00 127
    2021-08-01 $393,100 (10.7%) $508,000 (24.8%) 0.00 133
    2021-09-01 $413,675 (13.4%) $530,236 (25.4%) 0.00 148
    2021-10-01 $415,000 (14.6%) $524,312 (26.6%) 0.00 148
    2021-11-01 $422,450 (16.6%) $539,337 (30.7%) 0.00 120
    2021-12-01 $419,450 (16.7%) $550,459 (34.0%) 0.00 96
    2022-01-01 $397,200 (7.6%) $566,366 (31.2%) 0.00 83
    2022-02-01 $394,875 (6.0%) $548,214 (21.0%) 0.00 80
    2022-03-01 $462,450 (21.6%) $619,112 (31.5%) 0.00 98
    2022-04-01 $465,000 (17.0%) $628,284 (13.8%) 0.00 109
    2022-05-01 $463,450 (18.8%) $589,320 (10.1%) 0.00 138
    2022-06-01 $470,850 (16.4%) $585,399 (8.0%) 0.00 193
    2022-07-01 $479,900 (23.2%) $553,948 (14.7%) 0.00 241
    2022-08-01 $479,975 (22.1%) $554,805 (9.2%) 0.00 270
    2022-09-01 $467,475 (13.0%) $556,041 (4.9%) 0.00 260
    2022-10-01 $480,000 (15.7%) $565,959 (7.9%) 0.00 260
    2022-11-01 $475,950 (12.7%) $553,499 (2.6%) 0.00 278
    2022-12-01 $489,500 (16.7%) $569,877 (3.5%) 0.00 249
    2023-01-01 $513,625 (29.3%) $582,439 (2.8%) 0.00 223
    2023-02-01 $569,588 (44.3%) $617,444 (12.6%) 0.00 207
    2023-03-01 $568,700 (23.0%) $626,485 (1.2%) 0.00 178
    2023-04-01 $565,000 (21.5%) $646,346 (2.9%) 0.00 159
    2023-05-01 $574,988 (24.1%) $647,938 (10.0%) 0.00 177
    2023-06-01 $573,600 (21.8%) $641,095 (9.5%) 0.00 183
    2023-07-01 $527,450 (9.9%) $624,383 (12.7%) 0.00 207
    2023-08-01 $522,100 (8.8%) $606,103 (9.3%) 0.00 233
    2023-09-01 $499,900 (6.9%) $583,008 (4.9%) 0.00 264
    2023-10-01 $495,000 (3.1%) $567,797 (0.3%) 0.00 262
    Longview's median listing price for 2023-10-01 was $495,000, a difference of $15,000 (3.1%) versus the prior year and $-4,900 versus the prior month.

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

    Longview's average listing price for 2023-10-01 was $567,797, a difference of $1,838 (0.3%) versus the prior year and $-15,211 versus the prior month.

    For the 2023-10-01 period, Longview had 262 MLS listings, a difference of -2 listings (-1%) versus the prior month and 2 listings (1%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Longview (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,078 sqft
    2018-02-01 0 days 2,175 sqft
    2018-03-01 0 days 2,161 sqft
    2018-04-01 0 days 2,078 sqft
    2018-05-01 0 days 2,009 sqft
    2018-06-01 0 days 2,032 sqft
    2018-07-01 0 days 1,952 sqft
    2018-08-01 0 days 1,935 sqft
    2018-09-01 0 days 1,950 sqft
    2018-10-01 0 days 1,847 sqft
    2018-11-01 0 days 1,848 sqft
    2018-12-01 0 days 1,912 sqft
    2019-01-01 0 days 1,946 sqft
    2019-02-01 0 days 1,914 sqft
    2019-03-01 0 days 1,903 sqft
    2019-04-01 0 days 1,901 sqft
    2019-05-01 0 days 1,986 sqft
    2019-06-01 0 days 1,938 sqft
    2019-07-01 0 days 1,973 sqft
    2019-08-01 0 days 1,922 sqft
    2019-09-01 0 days 1,880 sqft
    2019-10-01 0 days 1,842 sqft
    2019-11-01 0 days 1,846 sqft
    2019-12-01 0 days 1,777 sqft
    2020-01-01 0 days 1,774 sqft
    2020-02-01 0 days 1,721 sqft
    2020-03-01 0 days 1,711 sqft
    2020-04-01 0 days 1,799 sqft
    2020-05-01 0 days 1,800 sqft
    2020-06-01 0 days 1,801 sqft
    2020-07-01 0 days 1,846 sqft
    2020-08-01 0 days 1,924 sqft
    2020-09-01 0 days 1,856 sqft
    2020-10-01 0 days 1,791 sqft
    2020-11-01 0 days 1,820 sqft
    2020-12-01 0 days 1,701 sqft
    2021-01-01 0 days 1,765 sqft
    2021-02-01 0 days 1,722 sqft
    2021-03-01 0 days 1,670 sqft
    2021-04-01 0 days 1,978 sqft
    2021-05-01 0 days 1,762 sqft
    2021-06-01 0 days 1,803 sqft
    2021-07-01 0 days 1,814 sqft
    2021-08-01 0 days 1,805 sqft
    2021-09-01 0 days 1,963 sqft
    2021-10-01 0 days 1,784 sqft
    2021-11-01 0 days 1,874 sqft
    2021-12-01 0 days 1,884 sqft
    2022-01-01 0 days 1,733 sqft
    2022-02-01 0 days 1,650 sqft
    2022-03-01 0 days 1,828 sqft
    2022-04-01 0 days 1,834 sqft
    2022-05-01 0 days 1,837 sqft
    2022-06-01 0 days 1,813 sqft
    2022-07-01 0 days 1,817 sqft
    2022-08-01 0 days 1,864 sqft
    2022-09-01 0 days 1,836 sqft
    2022-10-01 0 days 1,878 sqft
    2022-11-01 0 days 1,958 sqft
    2022-12-01 0 days 2,040 sqft
    2023-01-01 0 days 2,056 sqft
    2023-02-01 0 days 2,126 sqft
    2023-03-01 0 days 2,189 sqft
    2023-04-01 0 days 2,217 sqft
    2023-05-01 0 days 2,181 sqft
    2023-06-01 0 days 2,130 sqft
    2023-07-01 0 days 2,079 sqft
    2023-08-01 0 days 2,090 sqft
    2023-09-01 0 days 1,993 sqft
    2023-10-01 0 days 2,002 sqft
    Longview's median listing age (time on market) for 2023-10-01 was 0 days.

    Longview's median square footage for active listings during the 2023-10-01 period was 2,002 sqft. One year prior, the average listing was 1,878 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).