Los Angeles FHA Loan Rates, Closing Costs & Stats
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
-0.11%
for the week of 2022-11-25, compared to the national average (all FHA variants) of
0% for the same period.
Los Angeles's average FHA mortgage closing costs are $13,610.
The average rate for the prior week (2022-11-18) was
6.62% and
one month ago for the week of 2022-10-21, the
average rate was 6.82%.
The average rate one year ago was 3.4%.
For refis of the same type during the week of 2022-11-25, the average rate
was -0.12%.
Los Angeles 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 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 MORTGAGE ($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 MORTGAGE (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 | $778,750 (9.8%) | $1,736,504 (14.7%) | 2.89 | 12,709 |
| 2018-02-01 | $789,444 (7.9%) | $1,725,793 (11.2%) | 2.87 | 13,762 |
| 2018-03-01 | $799,900 (5.8%) | $1,721,381 (6.8%) | 2.81 | 14,582 |
| 2018-04-01 | $825,000 (6.5%) | $1,701,555 (4.8%) | 2.80 | 15,991 |
| 2018-05-01 | $824,450 (3.9%) | $1,702,194 (4.0%) | 2.75 | 17,287 |
| 2018-06-01 | $820,000 (4.3%) | $1,686,287 (3.7%) | 2.73 | 18,773 |
| 2018-07-01 | $799,975 (2.7%) | $1,651,547 (2.9%) | 2.67 | 20,304 |
| 2018-08-01 | $784,450 (2.0%) | $1,584,772 (-1.3%) | 2.63 | 21,230 |
| 2018-09-01 | $769,200 (0.0%) | $1,559,038 (-3.0%) | 2.58 | 22,128 |
| 2018-10-01 | $762,500 (-0.5%) | $1,557,410 (-4.8%) | 2.58 | 22,809 |
| 2018-11-01 | $753,250 (-2.1%) | $1,549,098 (-6.9%) | 2.55 | 22,803 |
| 2018-12-01 | $749,000 (-3.8%) | $1,569,118 (-9.7%) | 2.58 | 20,249 |
| 2019-01-01 | $741,250 (-4.8%) | $1,567,497 (-9.7%) | 2.56 | 18,976 |
| 2019-02-01 | $749,450 (-5.1%) | $1,602,096 (-7.2%) | 2.53 | 19,544 |
| 2019-03-01 | $770,571 (-3.7%) | $1,632,531 (-5.2%) | 2.52 | 19,914 |
| 2019-04-01 | $798,500 (-3.2%) | $1,651,123 (-3.0%) | 2.54 | 20,315 |
| 2019-05-01 | $805,000 (-2.4%) | $1,679,606 (-1.3%) | 2.52 | 21,490 |
| 2019-06-01 | $825,000 (0.6%) | $1,677,275 (-0.5%) | 2.58 | 21,766 |
| 2019-07-01 | $829,950 (3.8%) | $1,688,535 (2.2%) | 2.60 | 22,120 |
| 2019-08-01 | $836,084 (6.6%) | $1,702,962 (7.5%) | 2.65 | 21,545 |
| 2019-09-01 | $837,724 (8.9%) | $1,726,645 (10.8%) | 2.68 | 20,589 |
| 2019-10-01 | $836,818 (9.8%) | $1,749,156 (12.3%) | 2.70 | 19,699 |
| 2019-11-01 | $835,000 (10.9%) | $1,808,386 (16.7%) | 2.74 | 17,808 |
| 2019-12-01 | $844,500 (12.8%) | $1,894,561 (20.7%) | 2.82 | 14,182 |
| 2020-01-01 | $849,000 (14.5%) | $1,954,498 (24.7%) | 2.84 | 12,852 |
| 2020-02-01 | $889,000 (18.6%) | $1,991,934 (24.3%) | 2.91 | 12,921 |
| 2020-03-01 | $907,000 (17.7%) | $2,002,167 (22.6%) | 2.84 | 12,849 |
| 2020-04-01 | $855,000 (7.1%) | $1,828,007 (10.7%) | 2.68 | 13,349 |
| 2020-05-01 | $875,000 (8.7%) | $1,818,890 (8.3%) | 2.66 | 15,180 |
| 2020-06-01 | $916,037 (11.0%) | $1,916,978 (14.3%) | 2.70 | 15,185 |
| 2020-07-01 | $947,000 (14.1%) | $2,001,331 (18.5%) | 2.74 | 14,678 |
| 2020-08-01 | $950,000 (13.6%) | $2,037,666 (19.7%) | 2.72 | 14,455 |
| 2020-09-01 | $949,450 (13.3%) | $2,017,992 (16.9%) | 2.72 | 14,576 |
| 2020-10-01 | $949,000 (13.4%) | $2,027,320 (15.9%) | 2.72 | 14,867 |
| 2020-11-01 | $949,500 (13.7%) | $2,055,844 (13.7%) | 2.77 | 14,227 |
| 2020-12-01 | $949,444 (12.4%) | $2,165,196 (14.3%) | 2.82 | 12,063 |
| 2021-01-01 | $950,000 (11.9%) | $2,268,195 (16.1%) | 2.84 | 10,297 |
| 2021-02-01 | $968,444 (8.9%) | $2,344,829 (17.7%) | 2.82 | 9,973 |
| 2021-03-01 | $969,000 (6.8%) | $2,312,559 (15.5%) | 2.75 | 9,780 |
| 2021-04-01 | $972,450 (13.7%) | $2,281,743 (24.8%) | 2.63 | 9,810 |
| 2021-05-01 | $972,000 (11.1%) | $2,292,061 (26.0%) | 2.57 | 9,752 |
| 2021-06-01 | $964,500 (5.3%) | $2,265,237 (18.2%) | 2.54 | 10,254 |
| 2021-07-01 | $949,950 (0.3%) | $2,182,693 (9.1%) | 2.50 | 11,086 |
| 2021-08-01 | $917,000 (-3.5%) | $2,129,268 (4.5%) | 2.45 | 11,133 |
| 2021-09-01 | $910,000 (-4.2%) | $2,118,210 (5.0%) | 2.43 | 10,586 |
| 2021-10-01 | $924,900 (-2.5%) | $2,165,405 (6.8%) | 2.47 | 10,111 |
| 2021-11-01 | $909,950 (-4.2%) | $2,216,200 (7.8%) | 2.43 | 8,898 |
| 2021-12-01 | $907,500 (-4.4%) | $2,343,139 (8.2%) | 2.46 | 7,126 |
| 2022-01-01 | $920,000 (-3.2%) | $2,480,758 (9.4%) | 2.49 | 6,134 |
| 2022-02-01 | $947,500 (-2.2%) | $2,514,929 (7.3%) | 2.46 | 6,535 |
| 2022-03-01 | $972,347 (0.4%) | $2,452,480 (6.1%) | 2.43 | 6,968 |
| 2022-04-01 | $980,000 (0.8%) | $2,348,317 (2.9%) | 2.34 | 7,570 |
| 2022-05-01 | $990,000 (1.9%) | $2,241,865 (-2.2%) | 2.26 | 10,043 |
| 2022-06-01 | $995,450 (3.2%) | $2,150,591 (-5.1%) | 2.22 | 12,008 |
| 2022-07-01 | $970,000 (2.1%) | $2,018,904 (-7.5%) | 2.19 | 14,755 |
| 2022-08-01 | $950,000 (3.6%) | $1,960,764 (-7.9%) | 2.19 | 15,070 |
| 2022-09-01 | $949,444 (4.3%) | $1,974,459 (-6.8%) | 2.22 | 14,498 |
| 2022-10-01 | $939,888 (1.6%) | $1,964,592 (-9.3%) | 2.21 | 14,630 |
Los Angeles's median listing price comes in at 221% of the national average.
Los Angeles's average listing price for 2022-10-01 was $1,964,592, a difference of $-200,813 (-9.3%) versus the prior year and $-9,867 versus the prior month.
For the 2022-10-01 period, Los Angeles had 14,630 MLS listings, a difference of 132 listings (1%) versus the prior month and 4,519 listings (45%) 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 | 1,865 sqft |
| 2018-02-01 | 30 days | 1,876 sqft |
| 2018-03-01 | 31 days | 1,888 sqft |
| 2018-04-01 | 32 days | 1,907 sqft |
| 2018-05-01 | 31 days | 1,913 sqft |
| 2018-06-01 | 33 days | 1,906 sqft |
| 2018-07-01 | 36 days | 1,898 sqft |
| 2018-08-01 | 37 days | 1,850 sqft |
| 2018-09-01 | 40 days | 1,818 sqft |
| 2018-10-01 | 41 days | 1,798 sqft |
| 2018-11-01 | 45 days | 1,778 sqft |
| 2018-12-01 | 54 days | 1,766 sqft |
| 2019-01-01 | 57 days | 1,750 sqft |
| 2019-02-01 | 41 days | 1,756 sqft |
| 2019-03-01 | 42 days | 1,795 sqft |
| 2019-04-01 | 43 days | 1,831 sqft |
| 2019-05-01 | 43 days | 1,857 sqft |
| 2019-06-01 | 46 days | 1,876 sqft |
| 2019-07-01 | 47 days | 1,889 sqft |
| 2019-08-01 | 48 days | 1,883 sqft |
| 2019-09-01 | 50 days | 1,875 sqft |
| 2019-10-01 | 52 days | 1,865 sqft |
| 2019-11-01 | 54 days | 1,860 sqft |
| 2019-12-01 | 65 days | 1,859 sqft |
| 2020-01-01 | 66 days | 1,864 sqft |
| 2020-02-01 | 45 days | 1,901 sqft |
| 2020-03-01 | 45 days | 1,921 sqft |
| 2020-04-01 | 52 days | 1,831 sqft |
| 2020-05-01 | 61 days | 1,844 sqft |
| 2020-06-01 | 51 days | 1,870 sqft |
| 2020-07-01 | 47 days | 1,884 sqft |
| 2020-08-01 | 46 days | 1,873 sqft |
| 2020-09-01 | 46 days | 1,853 sqft |
| 2020-10-01 | 46 days | 1,841 sqft |
| 2020-11-01 | 52 days | 1,823 sqft |
| 2020-12-01 | 63 days | 1,814 sqft |
| 2021-01-01 | 65 days | 1,806 sqft |
| 2021-02-01 | 46 days | 1,799 sqft |
| 2021-03-01 | 40 days | 1,799 sqft |
| 2021-04-01 | 41 days | 1,806 sqft |
| 2021-05-01 | 39 days | 1,805 sqft |
| 2021-06-01 | 37 days | 1,786 sqft |
| 2021-07-01 | 36 days | 1,760 sqft |
| 2021-08-01 | 37 days | 1,724 sqft |
| 2021-09-01 | 40 days | 1,718 sqft |
| 2021-10-01 | 39 days | 1,720 sqft |
| 2021-11-01 | 44 days | 1,713 sqft |
| 2021-12-01 | 50 days | 1,714 sqft |
| 2022-01-01 | 46 days | 1,696 sqft |
| 2022-02-01 | 31 days | 1,699 sqft |
| 2022-03-01 | 30 days | 1,722 sqft |
| 2022-04-01 | 29 days | 1,732 sqft |
| 2022-05-01 | 29 days | 1,729 sqft |
| 2022-06-01 | 32 days | 1,736 sqft |
| 2022-07-01 | 34 days | 1,702 sqft |
| 2022-08-01 | 41 days | 1,701 sqft |
| 2022-09-01 | 47 days | 1,704 sqft |
| 2022-10-01 | 49 days | 1,702 sqft |
Los Angeles's median square footage for active listings during the 2022-10-01 period was 1,702 sqft. One year prior, the average listing was 1,720 sqft.
