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 74 lenders originated 390 FHA loans during 2023. The total origination value was $129,770,000, with an average FHA loan value of $332,744.

    Longview FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Longview averaged 6.8% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Longview's average FHA mortgage closing costs are $9,597.

    The average rate for the prior week (2024-04-12) was 6.79% and one month ago for the week of 2024-03-15, the average rate was 6.76%.

    The average rate one year ago was 6.39%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 51 7.11% $13,860
    MANN FINANCIAL INC. 34 6.81% $14,896
    UNITED WHOLESALE MORTGAGE, LLC 25 6.11% $13,294
    QUICKEN LOANS, LLC 19 6.27% $13,811
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 7.04% $13,079
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 12 6.50% $15,119
    AMERICAN PACIFIC MORTGAGE CORPORATION 11 7.35% $13,708
    S1L, Inc. 11 7.58% $13,293
    V.I.P. MORTGAGE, INC. 9 7.08% $13,620
    MOVEMENT MORTGAGE, LLC 8 6.56% $14,247
    CARDINAL FINANCIAL 7 7.38% $14,193
    CMG MORTGAGE, INC. 7 6.78% $13,607
    DHI MORTGAGE COMPANY, LTD. 7 5.66% $11,128
    CROSSCOUNTRY MORTGAGE, LLC 6 6.62% $13,679
    PENNYMAC LOAN SERVICES, LLC 5 6.08% $13,860
    AMERISAVE MORTGAGE CORPORATION 5 5.83% $15,125
    ACADEMY MORTGAGE CORPORATION 5 6.00% $17,147
    BAY EQUITY LLC 5 6.75% $13,813
    CANOPY MORTGAGE, LLC 5 6.50% $16,152
    Paramount Residential Mortgage Group, Inc. 4 7.19% $15,060
    Loan Simple, Inc. 4 7.09% $16,288
    MASON MCDUFFIE MORTGAGE CORPORATION 4 6.62% $11,175
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.97% $13,688
    GUARANTEED RATE, INC. 4 6.31% $13,395
    NATIONS DIRECT MORTGAGE, LLC 4 6.03% $15,967
    SUMMIT MORTGAGE CORPORATION 4 7.72% $13,287
    RESIDENTIAL MORTGAGE, LLC 3 6.91% $13,378
    NFM, INC. 3 7.04% $15,650
    Nations Lending Corporation 3 6.46% $14,946
    PLANET HOME LENDING, LLC 3 6.25% $10,251
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.42% $18,842
    Mr. Cooper ( Nationstar Mortgage ) 3 6.33% $20,648
    CHURCHILL MORTGAGE CORPORATION 2 5.75% $11,910
    AXIA FINANCIAL, LLC 2 7.06% $14,025
    CORNERSTONE HOME LENDING, INC. 2 7.06% $19,012
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 2 7.25% $9,371
    FIRST CENTENNIAL MORTGAGE CORPORATION 2 7.31% $10,393
    Flagstar Bank, FSB 2 6.25% $15,662
    HomeStreet Bank 2 6.13% $13,937
    NEWREZ LLC 2 7.56% $12,868
    UNION HOME MORTGAGE CORP. 2 6.63% $11,733
    LEADERONE FINANCIAL CORPORATION 1 5.75% $18,108
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.99% $11,521
    MLD MORTGAGE INC. 1 6.50% $18,654
    MORTGAGE EXPRESS, LLC 1 5.25% $16,917
    GENEVA FINANCIAL, LLC 1 6.25% $8,114
    ENVOY MORTGAGE, LTD 1 6.25% $13,191
    EAGLE HOME MORTGAGE, LLC 1 6.25% $11,981
    Cornerstone First Mortgage, Inc 1 6.00% $19,245
    CITYWIDE HOME LOANS, LLC 1 5.75% $15,858
    NBKC BANK 1 6.50% $7,697
    NETWORK CAPITAL FUNDING CORPORATION 1 6.25% $9,814
    Willamette Valley Bank 1 7.38% $16,653
    1st Security Bank of Washington 1 5.75% $11,059
    ON Q FINANCIAL, INC. 1 7.25% $13,428
    PANORAMA MORTGAGE GROUP, LLC 1 6.13% $14,775
    Century Mortgage Company DBA Century Lending Company 1 5.50% $15,851
    CALIBER HOME LOANS, INC. 1 7.63% $15,813
    BROKER SOLUTIONS, INC. 1 6.75% $11,694
    PLAZA HOME MORTGAGE, INC. 1 5.75% $17,054
    PREMIA MORTGAGE, LLC 1 6.25% $9,157
    Banner Bank 1 6.00% $12,292
    Bank of the Pacific 1 6.50% $14,953
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $8,829
    ARC HOME LLC 1 6.50% $16,030
    SUMMIT FUNDING, INC. 1 6.25% $17,038
    AmeriHome Mortgage Company, LLC 1 5.25% $17,415
    T2 FINANCIAL LLC 1 7.13% $9,256
    The Federal Savings Bank 1 6.63% $24,773
    ZILLOW HOME LOANS, LLC 1 6.50% $10,395
    American Mortgage & Equity Consultants, Inc. 1 7.50% $16,357
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $11,453
    LOANDEPOT.COM, LLC 1 6.99% $10,834
    LPMC, LLC 1 7.00% $15,864

    The top Longview FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 51 FHA loans originated. Their average total fees are $13,860, which is $1,037 lower than the next largest lender, MANN FINANCIAL INC..

    The lowest fee Longview FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($13,079), S1L, Inc. ($13,293), UNITED WHOLESALE MORTGAGE, LLC ($13,294), AMERICAN PACIFIC MORTGAGE CORPORATION ($13,708) and QUICKEN LOANS, LLC ($13,811).

    The lowest rate Longview FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.11%), QUICKEN LOANS, LLC (6.27%), EVERGREEN MONEYSOURCE MORTGAGE COMPANY (6.50%), MANN FINANCIAL INC. (6.81%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (7.04%).

    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 $288,950 (17.0%) $443,523 (8.5%) 0.00 215
    2018-02-01 $303,000 (27.9%) $460,395 (9.7%) 0.00 189
    2018-03-01 $298,950 (26.4%) $449,877 (8.8%) 0.00 178
    2018-04-01 $301,350 (11.7%) $400,512 (-3.3%) 0.00 205
    2018-05-01 $299,800 (12.6%) $395,973 (0.6%) 0.00 240
    2018-06-01 $301,700 (5.2%) $389,364 (-4.5%) 0.00 275
    2018-07-01 $299,700 (-3.0%) $375,725 (-11.9%) 0.00 328
    2018-08-01 $299,575 (1.3%) $368,329 (-8.9%) 0.00 347
    2018-09-01 $299,900 (1.7%) $373,699 (-6.9%) 0.00 348
    2018-10-01 $305,000 (8.6%) $379,745 (-4.1%) 0.00 350
    2018-11-01 $299,900 (7.2%) $379,082 (-5.4%) 0.00 337
    2018-12-01 $310,000 (8.8%) $393,355 (-7.3%) 0.00 296
    2019-01-01 $324,275 (12.2%) $404,817 (-8.7%) 0.00 269
    2019-02-01 $317,000 (4.6%) $413,596 (-10.2%) 0.00 231
    2019-03-01 $320,386 (7.2%) $417,262 (-7.3%) 0.00 220
    2019-04-01 $324,336 (7.6%) $419,614 (4.8%) 0.00 223
    2019-05-01 $329,225 (9.8%) $435,232 (9.9%) 0.00 237
    2019-06-01 $329,300 (9.2%) $429,430 (10.3%) 0.00 266
    2019-07-01 $329,350 (9.9%) $420,810 (12.0%) 0.00 283
    2019-08-01 $323,777 (8.1%) $410,521 (11.5%) 0.00 301
    2019-09-01 $315,718 (5.3%) $401,064 (7.3%) 0.00 306
    2019-10-01 $309,225 (1.4%) $394,759 (4.0%) 0.00 308
    2019-11-01 $319,900 (6.7%) $417,257 (10.1%) 0.00 302
    2019-12-01 $302,350 (-2.5%) $431,298 (9.7%) 0.00 257
    2020-01-01 $299,925 (-7.5%) $441,146 (9.0%) 0.00 246
    2020-02-01 $306,500 (-3.3%) $452,425 (9.4%) 0.00 217
    2020-03-01 $305,850 (-4.5%) $461,138 (10.5%) 0.00 207
    2020-04-01 $306,775 (-5.4%) $472,869 (12.7%) 0.00 198
    2020-05-01 $332,400 (1.0%) $473,591 (8.8%) 0.00 198
    2020-06-01 $341,625 (3.7%) $389,967 (-9.2%) 0.00 209
    2020-07-01 $349,255 (6.0%) $401,401 (-4.6%) 0.00 198
    2020-08-01 $354,945 (9.6%) $401,751 (-2.1%) 0.00 218
    2020-09-01 $364,450 (15.4%) $418,005 (4.2%) 0.00 214
    2020-10-01 $359,900 (16.4%) $413,361 (4.7%) 0.00 185
    2020-11-01 $362,425 (13.3%) $410,043 (-1.7%) 0.00 123
    2020-12-01 $353,675 (17.0%) $406,882 (-5.7%) 0.00 95
    2021-01-01 $369,000 (23.0%) $429,419 (-2.7%) 0.00 75
    2021-02-01 $372,400 (21.5%) $450,513 (-0.4%) 0.00 67
    2021-03-01 $378,000 (23.6%) $469,653 (1.9%) 0.00 71
    2021-04-01 $397,450 (29.6%) $550,117 (16.3%) 0.00 80
    2021-05-01 $389,450 (17.2%) $533,582 (12.7%) 0.00 99
    2021-06-01 $404,450 (18.4%) $539,778 (38.4%) 0.00 121
    2021-07-01 $389,000 (11.4%) $481,288 (19.9%) 0.00 128
    2021-08-01 $393,100 (10.8%) $505,859 (25.9%) 0.00 135
    2021-09-01 $411,450 (12.9%) $528,016 (26.3%) 0.00 150
    2021-10-01 $410,450 (14.1%) $521,767 (26.2%) 0.00 150
    2021-11-01 $415,000 (14.5%) $535,273 (30.5%) 0.00 122
    2021-12-01 $414,950 (17.3%) $542,411 (33.3%) 0.00 99
    2022-01-01 $394,500 (6.9%) $562,917 (31.1%) 0.00 84
    2022-02-01 $387,475 (4.1%) $539,204 (19.7%) 0.00 83
    2022-03-01 $458,475 (21.3%) $609,717 (29.8%) 0.00 101
    2022-04-01 $455,000 (14.5%) $612,534 (11.4%) 0.00 113
    2022-05-01 $456,225 (17.2%) $580,416 (8.8%) 0.00 142
    2022-06-01 $467,000 (15.5%) $581,657 (7.8%) 0.00 195
    2022-07-01 $475,000 (22.1%) $549,292 (14.1%) 0.00 246
    2022-08-01 $479,450 (22.0%) $550,369 (8.8%) 0.00 274
    2022-09-01 $467,225 (13.6%) $553,607 (4.9%) 0.00 263
    2022-10-01 $475,000 (15.7%) $563,010 (7.9%) 0.00 264
    2022-11-01 $473,725 (14.2%) $551,706 (3.1%) 0.00 281
    2022-12-01 $489,000 (17.9%) $567,127 (4.6%) 0.00 252
    2023-01-01 $509,750 (29.2%) $579,331 (2.9%) 0.00 226
    2023-02-01 $564,275 (45.6%) $612,462 (13.6%) 0.00 211
    2023-03-01 $567,448 (23.8%) $621,321 (1.9%) 0.00 182
    2023-04-01 $565,000 (24.2%) $639,691 (4.4%) 0.00 163
    2023-05-01 $569,975 (24.9%) $638,743 (10.1%) 0.00 181
    2023-06-01 $569,750 (22.0%) $632,098 (8.7%) 0.00 187
    2023-07-01 $524,000 (10.3%) $616,609 (12.3%) 0.00 214
    2023-08-01 $522,100 (8.9%) $606,103 (10.1%) 0.00 233
    2023-09-01 $499,900 (7.0%) $583,008 (5.3%) 0.00 264
    2023-10-01 $495,000 (4.2%) $567,797 (0.9%) 0.00 262
    2023-11-01 $484,250 (2.2%) $544,043 (-1.4%) 0.00 263
    2023-12-01 $479,500 (-1.9%) $545,726 (-3.8%) 0.00 232
    2024-01-01 $478,250 (-6.2%) $535,403 (-7.6%) 0.00 221
    2024-02-01 $480,700 (-14.8%) $557,759 (-8.9%) 0.00 204
    2024-03-01 $479,950 (-15.4%) $556,711 (-10.4%) 0.00 201
    Longview's median listing price for 2024-03-01 was $479,950, a difference of $-87,498 (-15.4%) versus the prior year and $-750 versus the prior month.

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

    Longview's average listing price for 2024-03-01 was $556,711, a difference of $-64,610 (-10.4%) versus the prior year and $-1,048 versus the prior month.

    For the 2024-03-01 period, Longview had 201 MLS listings, a difference of -3 listings (-1%) versus the prior month and 19 listings (10%) 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 1,976 sqft
    2018-02-01 0 days 2,064 sqft
    2018-03-01 0 days 2,048 sqft
    2018-04-01 0 days 1,932 sqft
    2018-05-01 0 days 1,895 sqft
    2018-06-01 0 days 1,912 sqft
    2018-07-01 0 days 1,846 sqft
    2018-08-01 0 days 1,847 sqft
    2018-09-01 0 days 1,875 sqft
    2018-10-01 0 days 1,795 sqft
    2018-11-01 0 days 1,811 sqft
    2018-12-01 0 days 1,872 sqft
    2019-01-01 0 days 1,869 sqft
    2019-02-01 0 days 1,862 sqft
    2019-03-01 0 days 1,864 sqft
    2019-04-01 0 days 1,867 sqft
    2019-05-01 0 days 1,926 sqft
    2019-06-01 0 days 1,888 sqft
    2019-07-01 0 days 1,933 sqft
    2019-08-01 0 days 1,894 sqft
    2019-09-01 0 days 1,846 sqft
    2019-10-01 0 days 1,801 sqft
    2019-11-01 0 days 1,812 sqft
    2019-12-01 0 days 1,751 sqft
    2020-01-01 0 days 1,742 sqft
    2020-02-01 0 days 1,656 sqft
    2020-03-01 0 days 1,668 sqft
    2020-04-01 0 days 1,744 sqft
    2020-05-01 0 days 1,782 sqft
    2020-06-01 0 days 1,787 sqft
    2020-07-01 0 days 1,843 sqft
    2020-08-01 0 days 1,920 sqft
    2020-09-01 0 days 1,833 sqft
    2020-10-01 0 days 1,786 sqft
    2020-11-01 0 days 1,802 sqft
    2020-12-01 0 days 1,687 sqft
    2021-01-01 0 days 1,750 sqft
    2021-02-01 0 days 1,707 sqft
    2021-03-01 0 days 1,670 sqft
    2021-04-01 0 days 1,978 sqft
    2021-05-01 0 days 1,768 sqft
    2021-06-01 0 days 1,806 sqft
    2021-07-01 0 days 1,809 sqft
    2021-08-01 0 days 1,797 sqft
    2021-09-01 0 days 1,950 sqft
    2021-10-01 0 days 1,783 sqft
    2021-11-01 0 days 1,864 sqft
    2021-12-01 0 days 1,871 sqft
    2022-01-01 0 days 1,703 sqft
    2022-02-01 0 days 1,636 sqft
    2022-03-01 0 days 1,812 sqft
    2022-04-01 0 days 1,818 sqft
    2022-05-01 0 days 1,813 sqft
    2022-06-01 0 days 1,803 sqft
    2022-07-01 0 days 1,812 sqft
    2022-08-01 0 days 1,833 sqft
    2022-09-01 0 days 1,826 sqft
    2022-10-01 0 days 1,861 sqft
    2022-11-01 0 days 1,934 sqft
    2022-12-01 0 days 2,023 sqft
    2023-01-01 0 days 2,043 sqft
    2023-02-01 0 days 2,094 sqft
    2023-03-01 0 days 2,141 sqft
    2023-04-01 0 days 2,187 sqft
    2023-05-01 0 days 2,145 sqft
    2023-06-01 0 days 2,119 sqft
    2023-07-01 0 days 2,021 sqft
    2023-08-01 0 days 2,088 sqft
    2023-09-01 0 days 1,993 sqft
    2023-10-01 0 days 2,001 sqft
    2023-11-01 0 days 1,966 sqft
    2023-12-01 0 days 1,911 sqft
    2024-01-01 0 days 1,869 sqft
    2024-02-01 0 days 1,818 sqft
    2024-03-01 0 days 1,820 sqft
    Longview's median listing age (time on market) for 2024-03-01 was 0 days.

    Longview's median square footage for active listings during the 2024-03-01 period was 1,820 sqft. One year prior, the average listing was 2,141 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).