Los Alamos FHA Loan Rates, Closing Costs & Stats

Los Alamos, NM

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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.

    Los Alamos's 10 lenders originated 17 FHA loans during 2023. The total origination value was $7,835,000, with an average FHA loan value of $460,882.

    Los Alamos FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Los Alamos averaged 0.11% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Los Alamos's average FHA mortgage closing costs are $11,170.

    The average rate for the prior week (2024-11-08) was 6.12% and one month ago for the week of 2024-10-11, the average rate was 5.92%.

    The average rate one year ago was 7.37%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0%.

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

    Los Alamos 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 Los Alamos level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    BOKF 5 6.68% $15,974
    Waterstone Mortgage Corporation 3 6.88% $14,482
    UNION HOME MORTGAGE CORP. 2 6.56% $14,974
    MID AMERICA MORTGAGE, INC. 1 6.75% $59,739
    QUICKEN LOANS, LLC 1 6.63% $22,576
    RANLIFE, INC. 1 5.63% $16,771
    Sunflower Bank 1 5.75% $12,729
    VILLAGE CAPITAL MORTGAGE 1 7.25% $9,805
    LEGEND LENDING CORPORATION 1 6.75% $34,616
    FREEDOM MORTGAGE CORPORATION 1 5.88% $28,912

    The top Los Alamos FHA lender as defined by loan originations is BOKF, with 5 FHA loans originated. Their average total fees are $15,974, which is $1,492 higher than the next largest lender, Waterstone Mortgage Corporation.

    The lowest fee Los Alamos FHA lenders (with over 10 loans originated) are .

    The lowest rate Los Alamos FHA lenders (with over 10 loans originated) are .

    Los Alamos FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LOS ALAMOS, NM LOS ALAMOS 2022 $530,150 $678,700 $820,350 $1,019,550
    LOS ALAMOS, NM LOS ALAMOS 2023 $583,050 $746,400 $902,250 $1,121,250

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Los Alamos (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 $426,000 (77.5%) $494,592 (40.0%) 0.00 22
    2018-02-01 $382,250 (30.1%) $403,152 (3.3%) 0.00 23
    2018-03-01 $399,500 (36.7%) $406,050 (4.4%) 0.00 20
    2018-04-01 $353,500 (6.3%) $377,006 (-4.5%) 0.00 23
    2018-05-01 $346,250 (-7.5%) $391,745 (-10.4%) 0.00 19
    2018-06-01 $340,000 (-21.4%) $365,819 (-19.9%) 0.00 25
    2018-07-01 $407,500 (1.9%) $421,461 (1.0%) 0.00 24
    2018-08-01 $398,422 (0.4%) $435,790 (4.7%) 0.00 26
    2018-09-01 $419,500 (15.7%) $415,851 (4.6%) 0.00 26
    2018-10-01 $399,000 (-0.1%) $441,337 (7.2%) 0.00 20
    2018-11-01 $387,625 (-13.3%) $424,587 (-3.6%) 0.00 15
    2018-12-01 $371,000 (-13.1%) $394,990 (-11.7%) 0.00 14
    2019-01-01 $380,000 (-10.8%) $419,115 (-15.3%) 0.00 10
    2019-02-01 $371,500 (-2.8%) $398,380 (-1.2%) 0.00 9
    2019-03-01 $442,143 (10.7%) $439,330 (8.2%) 0.00 7
    2019-04-01 $431,893 (22.2%) $416,380 (10.4%) 0.00 12
    2019-05-01 $378,375 (9.3%) $387,717 (-1.0%) 0.00 17
    2019-06-01 $389,000 (14.4%) $410,627 (12.3%) 0.00 22
    2019-07-01 $395,000 (-3.1%) $425,212 (0.9%) 0.00 19
    2019-08-01 $446,002 (11.9%) $435,685 (0.0%) 0.00 19
    2019-09-01 $440,004 (4.9%) $418,815 (0.7%) 0.00 19
    2019-10-01 $435,348 (9.1%) $407,569 (-7.7%) 0.00 20
    2019-11-01 $411,983 (6.3%) $400,859 (-5.6%) 0.00 12
    2019-12-01 $417,250 (12.5%) $412,158 (4.4%) 0.00 9
    2020-01-01 $371,000 (-2.4%) $383,822 (-8.4%) 0.00 10
    2020-02-01 $397,500 (7.0%) $341,191 (-14.4%) 0.00 8
    2020-03-01 $412,000 (-6.8%) $398,731 (-9.2%) 0.00 11
    2020-04-01 $397,000 (-8.1%) $403,419 (-3.1%) 0.00 16
    2020-05-01 $392,000 (3.6%) $435,571 (12.3%) 0.00 15
    2020-06-01 $448,250 (15.2%) $474,401 (15.5%) 0.00 25
    2020-07-01 $459,250 (16.3%) $460,150 (8.2%) 0.00 27
    2020-08-01 $445,000 (-0.2%) $451,151 (3.6%) 0.00 22
    2020-09-01 $541,000 (23.0%) $488,333 (16.6%) 0.00 29
    2020-10-01 $535,000 (22.9%) $493,953 (21.2%) 0.00 23
    2020-11-01 $524,060 (27.2%) $489,733 (22.2%) 0.00 23
    2020-12-01 $499,125 (19.6%) $450,340 (9.3%) 0.00 23
    2021-01-01 $487,000 (31.3%) $461,097 (20.1%) 0.00 17
    2021-02-01 $378,249 (-4.8%) $407,392 (19.4%) 0.00 11
    2021-03-01 $334,750 (-18.8%) $346,938 (-13.0%) 0.00 8
    2021-04-01 $411,500 (3.7%) $416,134 (3.2%) 0.00 7
    2021-05-01 $425,000 (8.4%) $452,716 (3.9%) 0.00 12
    2021-06-01 $476,500 (6.3%) $460,413 (-3.0%) 0.00 9
    2021-07-01 $427,000 (-7.0%) $460,361 (0.1%) 0.00 10
    2021-08-01 $492,000 (10.6%) $510,076 (13.1%) 0.00 10
    2021-09-01 $462,000 (-14.6%) $498,041 (2.0%) 0.00 10
    2021-10-01 $499,000 (-6.7%) $590,072 (19.5%) 0.00 11
    2021-11-01 $434,000 (-17.2%) $472,249 (-3.6%) 0.00 8
    2021-12-01 $382,000 (-23.5%) $430,594 (-4.4%) 0.00 8
    2022-01-01 $490,000 (0.6%) $491,667 (6.6%) 0.00 8
    2022-02-01 $437,500 (15.7%) $464,774 (14.1%) 0.00 5
    2022-03-01 $592,250 (76.9%) $598,825 (72.6%) 0.00 8
    2022-04-01 $572,500 (39.1%) $601,188 (44.5%) 0.00 12
    2022-05-01 $534,950 (25.9%) $551,828 (21.9%) 0.00 14
    2022-06-01 $495,750 (4.0%) $529,409 (15.0%) 0.00 15
    2022-07-01 $549,500 (28.7%) $577,232 (25.4%) 0.00 19
    2022-08-01 $538,500 (9.5%) $587,771 (15.2%) 0.00 22
    2022-09-01 $514,500 (11.4%) $582,732 (17.0%) 0.00 17
    2022-10-01 $657,000 (31.7%) $627,800 (6.4%) 0.00 14
    2022-11-01 $640,000 (47.5%) $654,663 (38.6%) 0.00 10
    2022-12-01 $700,000 (83.3%) $692,735 (60.9%) 0.00 9
    2023-01-01 $665,000 (35.7%) $668,584 (36.0%) 0.00 10
    2023-02-01 $706,250 (61.4%) $669,238 (44.0%) 0.00 10
    2023-03-01 $804,060 (35.8%) $701,448 (17.1%) 0.00 9
    2023-04-01 $750,000 (31.0%) $738,836 (22.9%) 0.00 14
    2023-05-01 $620,250 (16.0%) $651,715 (18.1%) 0.00 16
    2023-06-01 $730,000 (47.3%) $675,852 (27.7%) 0.00 17
    2023-07-01 $712,000 (29.6%) $717,200 (24.3%) 0.00 17
    2023-08-01 $739,500 (37.3%) $733,596 (24.8%) 0.00 22
    2023-09-01 $732,000 (42.3%) $700,206 (20.2%) 0.00 23
    2023-10-01 $738,000 (12.3%) $750,550 (19.6%) 0.00 22
    2023-11-01 $743,500 (16.2%) $793,324 (21.2%) 0.00 24
    2023-12-01 $750,000 (7.1%) $828,093 (19.5%) 0.00 21
    2024-01-01 $795,750 (19.7%) $847,417 (26.8%) 0.00 15
    2024-02-01 $834,500 (18.2%) $859,498 (28.4%) 0.00 13
    2024-03-01 $799,000 (-0.6%) $815,361 (16.2%) 0.00 11
    2024-04-01 $725,000 (-3.3%) $786,079 (6.4%) 0.00 14
    2024-05-01 $667,750 (7.7%) $734,964 (12.8%) 0.00 14
    2024-06-01 $820,000 (12.3%) $740,273 (9.5%) 0.00 11
    2024-07-01 $659,500 (-7.4%) $692,988 (-3.4%) 0.00 22
    2024-08-01 $630,000 (-14.8%) $673,356 (-8.2%) 0.00 20
    2024-09-01 $681,750 (-6.9%) $711,367 (1.6%) 0.00 32
    2024-10-01 $704,000 (-4.6%) $717,172 (-4.5%) 0.00 37
    Los Alamos's median listing price for 2024-10-01 was $704,000, a difference of $-34,000 (-4.6%) versus the prior year and $22,250 versus the prior month.

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

    Los Alamos's average listing price for 2024-10-01 was $717,172, a difference of $-33,378 (-4.5%) versus the prior year and $5,805 versus the prior month.

    For the 2024-10-01 period, Los Alamos had 37 MLS listings, a difference of 5 listings (16%) versus the prior month and 15 listings (68%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Los Alamos (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,745 sqft
    2018-02-01 0 days 2,382 sqft
    2018-03-01 0 days 2,338 sqft
    2018-04-01 0 days 2,161 sqft
    2018-05-01 0 days 1,726 sqft
    2018-06-01 0 days 1,895 sqft
    2018-07-01 0 days 2,333 sqft
    2018-08-01 0 days 2,314 sqft
    2018-09-01 0 days 2,473 sqft
    2018-10-01 0 days 2,281 sqft
    2018-11-01 0 days 2,228 sqft
    2018-12-01 0 days 2,068 sqft
    2019-01-01 0 days 2,311 sqft
    2019-02-01 0 days 2,356 sqft
    2019-03-01 0 days 2,539 sqft
    2019-04-01 0 days 2,374 sqft
    2019-05-01 0 days 1,964 sqft
    2019-06-01 0 days 2,409 sqft
    2019-07-01 0 days 2,305 sqft
    2019-08-01 0 days 2,223 sqft
    2019-09-01 0 days 2,038 sqft
    2019-10-01 0 days 1,894 sqft
    2019-11-01 0 days 1,894 sqft
    2019-12-01 0 days 2,103 sqft
    2020-01-01 0 days 1,801 sqft
    2020-02-01 0 days 1,763 sqft
    2020-03-01 0 days 2,011 sqft
    2020-04-01 0 days 1,883 sqft
    2020-05-01 0 days 2,058 sqft
    2020-06-01 0 days 2,228 sqft
    2020-07-01 0 days 2,190 sqft
    2020-08-01 0 days 2,195 sqft
    2020-09-01 0 days 2,312 sqft
    2020-10-01 0 days 2,300 sqft
    2020-11-01 0 days 2,371 sqft
    2020-12-01 0 days 2,248 sqft
    2021-01-01 0 days 2,300 sqft
    2021-02-01 0 days 1,792 sqft
    2021-03-01 0 days 1,534 sqft
    2021-04-01 0 days 1,965 sqft
    2021-05-01 0 days 2,009 sqft
    2021-06-01 0 days 1,952 sqft
    2021-07-01 0 days 1,779 sqft
    2021-08-01 0 days 2,031 sqft
    2021-09-01 0 days 2,048 sqft
    2021-10-01 0 days 2,349 sqft
    2021-11-01 0 days 1,949 sqft
    2021-12-01 0 days 1,755 sqft
    2022-01-01 0 days 1,917 sqft
    2022-02-01 0 days 1,771 sqft
    2022-03-01 0 days 2,580 sqft
    2022-04-01 0 days 2,292 sqft
    2022-05-01 0 days 2,141 sqft
    2022-06-01 0 days 1,908 sqft
    2022-07-01 0 days 2,002 sqft
    2022-08-01 0 days 2,230 sqft
    2022-09-01 0 days 2,022 sqft
    2022-10-01 0 days 2,479 sqft
    2022-11-01 0 days 2,359 sqft
    2022-12-01 0 days 2,284 sqft
    2023-01-01 0 days 2,293 sqft
    2023-02-01 0 days 2,229 sqft
    2023-03-01 0 days 2,470 sqft
    2023-04-01 0 days 2,344 sqft
    2023-05-01 0 days 2,173 sqft
    2023-06-01 0 days 2,427 sqft
    2023-07-01 0 days 2,470 sqft
    2023-08-01 0 days 2,528 sqft
    2023-09-01 0 days 2,509 sqft
    2023-10-01 0 days 2,640 sqft
    2023-11-01 0 days 2,463 sqft
    2023-12-01 0 days 2,585 sqft
    2024-01-01 0 days 2,497 sqft
    2024-02-01 0 days 2,777 sqft
    2024-03-01 0 days 2,432 sqft
    2024-04-01 0 days 2,420 sqft
    2024-05-01 0 days 2,113 sqft
    2024-06-01 0 days 2,300 sqft
    2024-07-01 0 days 2,265 sqft
    2024-08-01 0 days 2,252 sqft
    2024-09-01 0 days 2,380 sqft
    2024-10-01 0 days 2,394 sqft
    Los Alamos's median listing age (time on market) for 2024-10-01 was 0 days.

    Los Alamos's median square footage for active listings during the 2024-10-01 period was 2,394 sqft. One year prior, the average listing was 2,640 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).