Longview FHA Loans

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 85 lenders originated 857 FHA loans during 2021. The total origination value was $233,555,000, with an average FHA loan value of $272,526.

    Longview FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Longview averaged 5.37% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

    The average rate for the prior week (2022-05-13) was 5.58% and one month ago for the week of 2022-04-15, the average rate was 5.27%.

    The average rate one year ago was 3.44%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.26%.

    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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Longview level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    GUILD MORTGAGE COMPANY 148 3.30% $9,475
    MANN FINANCIAL INC. 87 3.30% $11,532
    QUICKEN LOANS, LLC 44 2.62% $8,206
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 28 3.29% $9,764
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 25 3.39% $12,128
    ACADEMY MORTGAGE CORPORATION 25 3.00% $11,047
    SUMMIT MORTGAGE CORPORATION 22 3.30% $10,672
    FINANCE OF AMERICA MORTGAGE LLC 21 3.41% $12,074
    CALIBER HOME LOANS, INC. 16 2.81% $7,990
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 14 3.28% $11,241
    HOMEBRIDGE FINANCIAL SERVICES, INC. 13 2.81% $9,045
    UNITED WHOLESALE MORTGAGE, LLC 13 2.68% $9,744
    LAKEVIEW LOAN SERVICING, LLC 13 2.97% $4,654
    MOVEMENT MORTGAGE, LLC 12 3.26% $8,968
    FREEDOM MORTGAGE CORPORATION 11 2.80% $4,755
    Gateway First Bank 11 3.48% $7,109
    PENNYMAC LOAN SERVICES, LLC 9 3.01% $7,130
    Mr. Cooper ( Nationstar Mortgage ) 8 3.02% $5,119
    Carrington Mortgage Services, LLC 7 3.59% $9,610
    HOME POINT FINANCIAL CORPORATION 6 2.77% $9,173
    Paramount Residential Mortgage Group, Inc. 6 3.40% $11,246
    Hometown Lenders, Inc. 6 3.42% $10,300
    CROSSCOUNTRY MORTGAGE, LLC 6 3.31% $12,953
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 5 3.68% $9,839
    LEADERONE FINANCIAL CORPORATION 5 3.15% $9,969
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.50% $11,215
    The Federal Savings Bank 5 2.68% $11,013
    AMERICAN FINANCIAL NETWORK, INC. 4 3.03% $12,323
    AMERICAN FINANCING CORPORATION 4 3.19% $10,442
    VILLAGE CAPITAL & INVESTMENT LLC 4 2.66% $2,088
    CHURCHILL MORTGAGE CORPORATION 4 3.19% $9,400
    LOANDEPOT.COM, LLC 4 3.37% $8,627
    CMG MORTGAGE, INC. 4 3.34% $10,498
    PACIFIC RESIDENTIAL MORTGAGE, LLC 3 3.08% $10,876
    AMERICAN FINANCIAL RESOURCES, INC. 3 3.04% $10,662
    First Guaranty Mortgage Corporation 3 2.88% $8,325
    NEWREZ LLC 3 2.83% $5,650
    PANORAMA MORTGAGE GROUP, LLC 3 3.21% $11,498
    Sierra Pacific Mortgage Company, Inc. 3 3.29% $11,884
    SUMMIT FUNDING, INC. 3 3.21% $12,672
    Umpqua Bank 3 2.79% $9,204
    NATIONS DIRECT MORTGAGE, LLC 2 2.50% $9,029
    Nations Lending Corporation 2 3.06% $16,493
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 3.38% $8,290
    DIRECTORS MORTGAGE, INC. 2 3.38% $10,818
    CONTOUR MORTGAGE CORPORATION 2 2.50% $11,782
    S1L, Inc. 2 3.69% $7,795
    SECURITYNATIONAL MORTGAGE COMPANY 2 3.56% $10,903
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 2.69% $10,560
    Willamette Valley Bank 2 2.63% $12,379
    OCEANSIDE MORTGAGE COMPANY 2 2.50% $4,080
    AXIA FINANCIAL, LLC 2 3.38% $12,662
    TOP FLITE FINANCIAL, INC. 2 3.25% $15,737
    1st Security Bank of Washington 2 2.62% $12,733
    AMERISAVE MORTGAGE CORPORATION 2 2.75% $9,674
    GENEVA FINANCIAL, LLC 2 4.13% $14,196
    MUTUAL OF OMAHA MORTGAGE, INC. 2 3.50% $7,674
    Flagstar Bank, FSB 2 3.25% $9,065
    HomeStreet Bank 2 3.75% $10,620
    BROKER SOLUTIONS, INC. 1 2.49% $9,474
    PLANET HOME LENDING, LLC 1 2.75% $3,359
    BELEM SERVICING LLC 1 3.75% $8,897
    Barrington Bank & Trust Company, N.A. 1 2.50% $20,001
    Bank of England 1 4.63% $10,315
    ZILLOW HOME LOANS, LLC 1 2.38% $6,592
    GUARANTEED RATE, INC. 1 2.88% $9,560
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 3.38% $13,874
    FIRST CENTENNIAL MORTGAGE CORPORATION 1 3.50% $6,872
    DRAPER AND KRAMER MORTGAGE CORP. 1 2.38% $8,580
    LADERA LENDING, INC. 1 3.13% $9,074
    Lakeview Community Capital, LLC 1 2.99% $4,431
    LAND HOME FINANCIAL SERVICES, INC. 1 3.38% $12,020
    COUNTRYPLACE MORTGAGE, LTD. 1 3.88% $14,176
    LENDUS, LLC 1 3.88% $7,386
    Loan Simple, Inc. 1 3.75% $14,027
    LPMC, LLC 1 3.50% $8,632
    Commerce Home Mortgage, Inc. 1 3.25% $9,095
    MID AMERICA MORTGAGE, INC. 1 2.75% $2,988
    MORIA DEVELOPMENT, INC. 1 2.63% $12,084
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 2.75% $10,234
    COLUMBIA COMMUNITY CREDIT UNION 1 2.62% $9,730
    CHERRY CREEK MORTGAGE, LLC 1 2.25% $9,931
    UNITED SECURITY FINANCIAL CORP 1 2.99% $4,991
    Northpointe Bank 1 3.13% $8,019
    CELEBRITY HOME LOANS, LLC 1 3.50% $8,865

    The top Longview FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 148 FHA loans originated. Their average total fees are $9,475, which is $2,057 lower than the next largest lender, MANN FINANCIAL INC..

    The lowest fee Longview FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($4,654), FREEDOM MORTGAGE CORPORATION ($4,755), Gateway First Bank ($7,109), CALIBER HOME LOANS, INC. ($7,990) and QUICKEN LOANS, LLC ($8,206).

    The lowest rate Longview FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.62%), UNITED WHOLESALE MORTGAGE, LLC (2.68%), FREEDOM MORTGAGE CORPORATION (2.80%), HOMEBRIDGE FINANCIAL SERVICES, INC. (2.81%) and CALIBER HOME LOANS, INC. (2.81%).

    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

    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 $294,500 (15.1%) $501,004 (-1.5%) 0.00 286
    2018-02-01 $316,500 (31.9%) $526,721 (0.9%) 0.00 253
    2018-03-01 $309,900 (26.8%) $529,471 (3.3%) 0.00 232
    2018-04-01 $305,350 (7.1%) $438,954 (-9.7%) 0.00 262
    2018-05-01 $305,000 (8.8%) $432,640 (-6.1%) 0.00 311
    2018-06-01 $310,000 (3.5%) $413,510 (-12.3%) 0.00 381
    2018-07-01 $300,000 (-7.7%) $401,576 (-16.8%) 0.00 409
    2018-08-01 $299,900 (-1.2%) $395,898 (-10.5%) 0.00 444
    2018-09-01 $305,000 (1.7%) $402,467 (-9.7%) 0.00 451
    2018-10-01 $314,950 (8.3%) $408,574 (-7.2%) 0.00 449
    2018-11-01 $314,900 (9.3%) $412,069 (-8.1%) 0.00 427
    2018-12-01 $324,800 (10.5%) $428,858 (-10.1%) 0.00 374
    2019-01-01 $324,950 (10.3%) $438,114 (-12.6%) 0.00 343
    2019-02-01 $319,900 (1.1%) $448,876 (-14.8%) 0.00 295
    2019-03-01 $323,800 (4.5%) $454,466 (-14.2%) 0.00 272
    2019-04-01 $329,000 (7.8%) $456,747 (4.1%) 0.00 271
    2019-05-01 $336,250 (10.3%) $465,428 (7.6%) 0.00 278
    2019-06-01 $329,900 (6.4%) $459,065 (11.0%) 0.00 332
    2019-07-01 $334,950 (11.7%) $452,468 (12.7%) 0.00 353
    2019-08-01 $332,714 (10.9%) $448,025 (13.2%) 0.00 360
    2019-09-01 $329,850 (8.2%) $443,649 (10.2%) 0.00 347
    2019-10-01 $322,445 (2.4%) $433,410 (6.1%) 0.00 392
    2019-11-01 $325,000 (3.2%) $475,888 (15.5%) 0.00 382
    2019-12-01 $312,450 (-3.8%) $480,840 (12.1%) 0.00 333
    2020-01-01 $313,750 (-3.5%) $493,086 (12.6%) 0.00 309
    2020-02-01 $319,900 (0.0%) $515,665 (14.9%) 0.00 261
    2020-03-01 $325,000 (0.4%) $528,202 (16.2%) 0.00 252
    2020-04-01 $335,000 (1.8%) $536,228 (17.4%) 0.00 239
    2020-05-01 $339,900 (1.1%) $533,169 (14.6%) 0.00 249
    2020-06-01 $343,500 (4.1%) $398,579 (-13.2%) 0.00 254
    2020-07-01 $343,500 (2.6%) $398,025 (-12.0%) 0.00 235
    2020-08-01 $350,000 (5.2%) $406,663 (-9.2%) 0.00 258
    2020-09-01 $364,450 (10.5%) $426,909 (-3.8%) 0.00 250
    2020-10-01 $360,000 (11.7%) $422,134 (-2.6%) 0.00 213
    2020-11-01 $354,950 (9.2%) $422,357 (-11.3%) 0.00 148
    2020-12-01 $338,500 (8.3%) $423,181 (-12.0%) 0.00 109
    2021-01-01 $365,000 (16.3%) $449,239 (-8.9%) 0.00 91
    2021-02-01 $369,450 (15.5%) $456,845 (-11.4%) 0.00 83
    2021-03-01 $382,500 (17.7%) $486,882 (-7.8%) 0.00 82
    2021-04-01 $399,900 (19.4%) $547,078 (2.0%) 0.00 100
    2021-05-01 $399,900 (17.7%) $532,997 (0.0%) 0.00 126
    2021-06-01 $405,500 (18.1%) $539,122 (35.3%) 0.00 143
    2021-07-01 $389,000 (13.3%) $502,664 (26.3%) 0.00 160
    2021-08-01 $397,500 (13.6%) $516,551 (27.0%) 0.00 176
    2021-09-01 $417,450 (14.5%) $541,041 (26.7%) 0.00 196
    2021-10-01 $425,000 (18.1%) $528,274 (25.1%) 0.00 201
    2021-11-01 $424,450 (19.6%) $534,841 (26.6%) 0.00 163
    2021-12-01 $419,450 (23.9%) $542,299 (28.2%) 0.00 130
    2022-01-01 $389,900 (6.8%) $534,504 (19.0%) 0.00 109
    2022-02-01 $397,450 (7.6%) $523,770 (14.7%) 0.00 96
    2022-03-01 $425,500 (11.2%) $569,020 (16.9%) 0.00 110
    2022-04-01 $455,000 (13.8%) $583,447 (6.7%) 0.00 141
    Longview's median listing price for 2022-04-01 was $455,000, a difference of $55,100 (13.8%) versus the prior year and $29,500 versus the prior month.

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

    Longview's average listing price for 2022-04-01 was $583,447, a difference of $36,369 (6.7%) versus the prior year and $14,427 versus the prior month.

    For the 2022-04-01 period, Longview had 141 MLS listings, a difference of 31 listings (28%) versus the prior month and 41 listings (41%) 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 2,021 sqft
    2018-02-01 0 days 2,104 sqft
    2018-03-01 0 days 2,068 sqft
    2018-04-01 0 days 2,040 sqft
    2018-05-01 0 days 2,009 sqft
    2018-06-01 0 days 1,948 sqft
    2018-07-01 0 days 1,905 sqft
    2018-08-01 0 days 1,973 sqft
    2018-09-01 0 days 1,950 sqft
    2018-10-01 0 days 1,926 sqft
    2018-11-01 0 days 1,884 sqft
    2018-12-01 0 days 1,923 sqft
    2019-01-01 0 days 1,920 sqft
    2019-02-01 0 days 1,882 sqft
    2019-03-01 0 days 1,899 sqft
    2019-04-01 0 days 1,936 sqft
    2019-05-01 0 days 1,984 sqft
    2019-06-01 0 days 1,981 sqft
    2019-07-01 0 days 1,971 sqft
    2019-08-01 0 days 1,959 sqft
    2019-09-01 0 days 1,923 sqft
    2019-10-01 0 days 1,868 sqft
    2019-11-01 0 days 1,869 sqft
    2019-12-01 0 days 1,806 sqft
    2020-01-01 0 days 1,781 sqft
    2020-02-01 0 days 1,771 sqft
    2020-03-01 0 days 1,761 sqft
    2020-04-01 0 days 1,843 sqft
    2020-05-01 0 days 1,850 sqft
    2020-06-01 0 days 1,856 sqft
    2020-07-01 0 days 1,871 sqft
    2020-08-01 0 days 1,928 sqft
    2020-09-01 0 days 1,881 sqft
    2020-10-01 0 days 1,827 sqft
    2020-11-01 0 days 1,810 sqft
    2020-12-01 0 days 1,642 sqft
    2021-01-01 0 days 1,763 sqft
    2021-02-01 0 days 1,667 sqft
    2021-03-01 0 days 1,636 sqft
    2021-04-01 0 days 1,899 sqft
    2021-05-01 0 days 1,756 sqft
    2021-06-01 0 days 1,828 sqft
    2021-07-01 0 days 1,817 sqft
    2021-08-01 0 days 1,810 sqft
    2021-09-01 0 days 1,969 sqft
    2021-10-01 0 days 1,896 sqft
    2021-11-01 0 days 1,887 sqft
    2021-12-01 0 days 1,875 sqft
    2022-01-01 0 days 1,703 sqft
    2022-02-01 0 days 1,690 sqft
    2022-03-01 0 days 1,762 sqft
    2022-04-01 0 days 1,828 sqft
    Longview's median listing age (time on market) for 2022-04-01 was 0 days.

    Longview's median square footage for active listings during the 2022-04-01 period was 1,828 sqft. One year prior, the average listing was 1,899 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).