Los Angeles FHA Loans
Los Angeles-Long Beach-Anaheim, CA
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 Angeles's 260 lenders originated 21,978 FHA loans during 2021. The total origination value was $10,493,970,000, with an average FHA loan value of $477,476.
Los Angeles FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Los Angeles
averaged
4.99%
for the week of 2022-08-05, compared to the national average (all FHA variants) of
5.305% for the same period.
The average rate for the prior week (2022-07-29) was
5.14% and
one month ago for the week of 2022-07-01, the
average rate was 5.72%.
The average rate one year ago was 3.13%.
For refis of the same type during the week of 2022-08-05, the average rate
was 5.08%.
Los Angeles 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 Los Angeles level.
The top Los Angeles FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
1,650 FHA loans originated. Their average total fees are
$15,352, which is $3,598
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Los Angeles FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($5,349), MID AMERICA MORTGAGE, INC. ($5,533), Lakeview Community Capital, LLC ($8,065), Mr. Cooper ( Nationstar Mortgage ) ($8,136) and HOMEAMERICAN MORTGAGE CORPORATION ($8,607).
The lowest rate Los Angeles FHA lenders (with over 10 loans originated) are
FIRST CENTENNIAL MORTGAGE CORPORATION (2.53%), VILLAGE CAPITAL & INVESTMENT LLC (2.56%), WESTERN EXPRESS LENDING (2.57%), InterContinental Capital Group, Inc (2.59%) and QUICKEN LOANS, LLC (2.60%).
Los Angeles FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| LOS ANGELES-LONG BEACH-ANAHEIM, CA | LOS ANGELES | 2022 | $970,800 | $1,243,050 | $1,502,475 | $1,867,275 |
| LOS ANGELES-LONG BEACH-ANAHEIM, CA | ORANGE | 2022 | $970,800 | $1,243,050 | $1,502,475 | $1,867,275 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Los Angeles (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 | $750,000 (7.2%) | $1,704,827 (13.9%) | 2.76 | 13,152 |
| 2018-02-01 | $759,000 (5.2%) | $1,690,988 (10.1%) | 2.74 | 14,314 |
| 2018-03-01 | $780,525 (4.2%) | $1,685,936 (5.9%) | 2.70 | 15,072 |
| 2018-04-01 | $799,650 (4.5%) | $1,679,819 (4.4%) | 2.68 | 16,519 |
| 2018-05-01 | $799,000 (2.4%) | $1,674,828 (3.3%) | 2.66 | 17,879 |
| 2018-06-01 | $799,000 (2.6%) | $1,655,352 (3.0%) | 2.66 | 19,472 |
| 2018-07-01 | $789,900 (1.9%) | $1,620,030 (2.3%) | 2.63 | 21,054 |
| 2018-08-01 | $764,450 (1.9%) | $1,557,509 (-1.0%) | 2.55 | 22,044 |
| 2018-09-01 | $749,900 (0.0%) | $1,527,636 (-2.9%) | 2.51 | 23,032 |
| 2018-10-01 | $747,000 (-0.3%) | $1,521,712 (-5.2%) | 2.50 | 23,786 |
| 2018-11-01 | $736,500 (-1.8%) | $1,510,278 (-7.1%) | 2.47 | 23,801 |
| 2018-12-01 | $725,000 (-3.3%) | $1,532,443 (-9.6%) | 2.48 | 21,112 |
| 2019-01-01 | $719,450 (-4.1%) | $1,531,943 (-10.1%) | 2.48 | 19,800 |
| 2019-02-01 | $727,450 (-4.2%) | $1,561,643 (-7.7%) | 2.44 | 20,330 |
| 2019-03-01 | $755,238 (-3.2%) | $1,601,897 (-5.0%) | 2.46 | 20,590 |
| 2019-04-01 | $777,944 (-2.7%) | $1,626,218 (-3.2%) | 2.45 | 20,862 |
| 2019-05-01 | $796,500 (-0.3%) | $1,662,469 (-0.7%) | 2.45 | 22,084 |
| 2019-06-01 | $799,000 (0.0%) | $1,649,945 (-0.3%) | 2.46 | 22,395 |
| 2019-07-01 | $801,408 (1.5%) | $1,660,124 (2.5%) | 2.49 | 22,744 |
| 2019-08-01 | $805,466 (5.4%) | $1,682,605 (8.0%) | 2.53 | 22,104 |
| 2019-09-01 | $808,558 (7.8%) | $1,713,091 (12.1%) | 2.57 | 21,250 |
| 2019-10-01 | $814,028 (9.0%) | $1,729,224 (13.6%) | 2.60 | 20,218 |
| 2019-11-01 | $799,999 (8.6%) | $1,771,138 (17.3%) | 2.58 | 18,278 |
| 2019-12-01 | $819,500 (13.0%) | $1,880,098 (22.7%) | 2.73 | 14,599 |
| 2020-01-01 | $825,000 (14.7%) | $1,923,283 (25.6%) | 2.75 | 13,119 |
| 2020-02-01 | $897,887 (23.4%) | $2,042,529 (30.8%) | 2.90 | 13,041 |
| 2020-03-01 | $938,950 (24.3%) | $2,071,651 (29.3%) | 2.93 | 12,997 |
| 2020-04-01 | $862,500 (10.9%) | $1,861,886 (14.5%) | 2.69 | 13,560 |
| 2020-05-01 | $879,000 (10.4%) | $1,832,228 (10.2%) | 2.66 | 15,392 |
| 2020-06-01 | $939,000 (17.5%) | $1,969,985 (19.4%) | 2.74 | 15,247 |
| 2020-07-01 | $959,500 (19.7%) | $2,048,055 (23.4%) | 2.75 | 14,680 |
| 2020-08-01 | $974,000 (20.9%) | $2,044,766 (21.5%) | 2.78 | 14,472 |
| 2020-09-01 | $987,495 (22.1%) | $2,130,769 (24.4%) | 2.82 | 14,657 |
| 2020-10-01 | $985,000 (21.0%) | $2,137,090 (23.6%) | 2.81 | 14,901 |
| 2020-11-01 | $997,000 (24.6%) | $2,208,662 (24.7%) | 2.85 | 14,544 |
| 2020-12-01 | $999,000 (21.9%) | $2,308,568 (22.8%) | 2.93 | 12,120 |
| 2021-01-01 | $999,000 (21.1%) | $2,398,286 (24.7%) | 2.94 | 10,444 |
| 2021-02-01 | $999,950 (11.4%) | $2,459,500 (20.4%) | 2.88 | 10,081 |
| 2021-03-01 | $999,495 (6.5%) | $2,455,623 (18.5%) | 2.80 | 9,700 |
| 2021-04-01 | $988,750 (14.6%) | $2,369,842 (27.3%) | 2.66 | 9,754 |
| 2021-05-01 | $959,000 (9.1%) | $2,283,691 (24.6%) | 2.52 | 9,755 |
| 2021-06-01 | $955,000 (1.7%) | $2,255,008 (14.5%) | 2.48 | 10,213 |
| 2021-07-01 | $949,500 (-1.0%) | $2,191,399 (7.0%) | 2.47 | 11,049 |
| 2021-08-01 | $899,500 (-7.7%) | $2,110,119 (3.2%) | 2.36 | 11,229 |
| 2021-09-01 | $899,450 (-8.9%) | $2,098,742 (-1.5%) | 2.37 | 10,705 |
| 2021-10-01 | $899,000 (-8.7%) | $2,134,314 (-0.1%) | 2.37 | 10,232 |
| 2021-11-01 | $899,000 (-9.8%) | $2,176,716 (-1.5%) | 2.37 | 9,090 |
| 2021-12-01 | $897,000 (-10.2%) | $2,299,565 (-0.4%) | 2.39 | 7,266 |
| 2022-01-01 | $899,000 (-10.0%) | $2,438,265 (1.7%) | 2.40 | 6,201 |
| 2022-02-01 | $928,500 (-7.2%) | $2,473,989 (0.6%) | 2.37 | 6,616 |
| 2022-03-01 | $949,950 (-5.0%) | $2,411,312 (-1.8%) | 2.35 | 7,081 |
| 2022-04-01 | $950,000 (-3.9%) | $2,321,213 (-2.1%) | 2.24 | 7,695 |
| 2022-05-01 | $972,000 (1.4%) | $2,209,784 (-3.2%) | 2.17 | 10,256 |
| 2022-06-01 | $975,000 (2.1%) | $2,122,610 (-5.9%) | 2.17 | 12,266 |
Los Angeles's median listing price comes in at 217% of the national average.
Los Angeles's average listing price for 2022-06-01 was $2,122,610, a difference of $-132,398 (-5.9%) versus the prior year and $-87,174 versus the prior month.
For the 2022-06-01 period, Los Angeles had 12,266 MLS listings, a difference of 2,010 listings (20%) versus the prior month and 2,053 listings (20%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Los Angeles (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 48 days | 1,859 sqft |
| 2018-02-01 | 30 days | 1,867 sqft |
| 2018-03-01 | 31 days | 1,881 sqft |
| 2018-04-01 | 32 days | 1,907 sqft |
| 2018-05-01 | 31 days | 1,916 sqft |
| 2018-06-01 | 33 days | 1,909 sqft |
| 2018-07-01 | 36 days | 1,899 sqft |
| 2018-08-01 | 37 days | 1,851 sqft |
| 2018-09-01 | 40 days | 1,822 sqft |
| 2018-10-01 | 41 days | 1,799 sqft |
| 2018-11-01 | 45 days | 1,777 sqft |
| 2018-12-01 | 54 days | 1,759 sqft |
| 2019-01-01 | 57 days | 1,751 sqft |
| 2019-02-01 | 41 days | 1,758 sqft |
| 2019-03-01 | 45 days | 1,796 sqft |
| 2019-04-01 | 43 days | 1,833 sqft |
| 2019-05-01 | 43 days | 1,863 sqft |
| 2019-06-01 | 45 days | 1,879 sqft |
| 2019-07-01 | 47 days | 1,894 sqft |
| 2019-08-01 | 47 days | 1,884 sqft |
| 2019-09-01 | 52 days | 1,873 sqft |
| 2019-10-01 | 51 days | 1,870 sqft |
| 2019-11-01 | 53 days | 1,864 sqft |
| 2019-12-01 | 62 days | 1,865 sqft |
| 2020-01-01 | 65 days | 1,865 sqft |
| 2020-02-01 | 38 days | 1,933 sqft |
| 2020-03-01 | 38 days | 1,965 sqft |
| 2020-04-01 | 46 days | 1,853 sqft |
| 2020-05-01 | 56 days | 1,864 sqft |
| 2020-06-01 | 43 days | 1,905 sqft |
| 2020-07-01 | 41 days | 1,911 sqft |
| 2020-08-01 | 39 days | 1,892 sqft |
| 2020-09-01 | 36 days | 1,896 sqft |
| 2020-10-01 | 36 days | 1,884 sqft |
| 2020-11-01 | 43 days | 1,868 sqft |
| 2020-12-01 | 51 days | 1,861 sqft |
| 2021-01-01 | 54 days | 1,855 sqft |
| 2021-02-01 | 36 days | 1,846 sqft |
| 2021-03-01 | 33 days | 1,853 sqft |
| 2021-04-01 | 33 days | 1,845 sqft |
| 2021-05-01 | 34 days | 1,808 sqft |
| 2021-06-01 | 33 days | 1,797 sqft |
| 2021-07-01 | 33 days | 1,768 sqft |
| 2021-08-01 | 33 days | 1,735 sqft |
| 2021-09-01 | 36 days | 1,729 sqft |
| 2021-10-01 | 36 days | 1,724 sqft |
| 2021-11-01 | 40 days | 1,725 sqft |
| 2021-12-01 | 45 days | 1,725 sqft |
| 2022-01-01 | 44 days | 1,706 sqft |
| 2022-02-01 | 29 days | 1,711 sqft |
| 2022-03-01 | 28 days | 1,730 sqft |
| 2022-04-01 | 28 days | 1,744 sqft |
| 2022-05-01 | 25 days | 1,740 sqft |
| 2022-06-01 | 29 days | 1,747 sqft |
Los Angeles's median square footage for active listings during the 2022-06-01 period was 1,747 sqft. One year prior, the average listing was 1,797 sqft.
