Longview FHA Loans
LONGVIEW, 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.
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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.