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%.

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).