Madera FHA Loan Rates, Closing Costs & Stats
MADERA, 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.
Madera's 97 lenders originated 824 FHA loans during 2021. The total origination value was $233,540,000, with an average FHA loan value of $283,422.
Madera FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Madera
averaged
-0.19%
for the week of 2023-01-20, compared to the national average (all FHA variants) of
0% for the same period.
Madera's average FHA mortgage closing costs are $8,762.
The average rate for the prior week (2023-01-13) was
6.04% and
one month ago for the week of 2022-12-16, the
average rate was 6.13%.
The average rate one year ago was 3.72%.
For refis of the same type during the week of 2023-01-20, the average rate
was -0.07%.
Madera 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 Madera level.
The top Madera FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
53 FHA loans originated. Their average total fees are
$9,715, which is $501
lower than the next largest lender,
AMERICAN PACIFIC MORTGAGE CORPORATION.
The lowest fee Madera FHA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($4,518), Lakeview Community Capital, LLC ($4,683), PENNYMAC LOAN SERVICES, LLC ($4,771), FREEDOM MORTGAGE CORPORATION ($5,443) and Mr. Cooper ( Nationstar Mortgage ) ($6,059).
The lowest rate Madera FHA lenders (with over 10 loans originated) are
HOME POINT FINANCIAL CORPORATION (2.50%), QUICKEN LOANS, LLC (2.63%), Sierra Pacific Mortgage Company, Inc. (2.70%), UNITED WHOLESALE MORTGAGE, LLC (2.70%) and CALIBER HOME LOANS, INC. (2.74%).
Madera FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
MADERA, CA | MADERA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Madera (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $318,000 (9.8%) | $420,404 (12.0%) | 0.00 | 431 |
2018-02-01 | $319,500 (7.6%) | $418,481 (6.8%) | 0.00 | 428 |
2018-03-01 | $320,000 (10.9%) | $423,243 (7.1%) | 0.00 | 444 |
2018-04-01 | $315,000 (5.0%) | $416,949 (4.2%) | 0.00 | 472 |
2018-05-01 | $317,625 (1.5%) | $421,289 (2.3%) | 0.00 | 486 |
2018-06-01 | $318,500 (3.0%) | $424,081 (2.5%) | 0.00 | 507 |
2018-07-01 | $313,750 (-0.4%) | $418,158 (-2.9%) | 0.00 | 536 |
2018-08-01 | $309,987 (-3.1%) | $412,153 (-1.8%) | 0.00 | 534 |
2018-09-01 | $310,000 (-4.6%) | $411,807 (0.9%) | 0.00 | 553 |
2018-10-01 | $313,700 (-2.0%) | $397,961 (-1.4%) | 0.00 | 565 |
2018-11-01 | $320,500 (-0.6%) | $398,200 (-3.2%) | 0.00 | 580 |
2018-12-01 | $325,000 (3.2%) | $401,982 (-3.5%) | 0.00 | 546 |
2019-01-01 | $328,725 (3.4%) | $400,671 (-4.7%) | 0.00 | 518 |
2019-02-01 | $325,000 (1.7%) | $404,962 (-3.2%) | 0.00 | 501 |
2019-03-01 | $328,300 (2.6%) | $432,914 (2.3%) | 0.00 | 498 |
2019-04-01 | $330,798 (5.0%) | $419,472 (0.6%) | 0.00 | 506 |
2019-05-01 | $334,950 (5.5%) | $429,475 (1.9%) | 0.00 | 501 |
2019-06-01 | $337,000 (5.8%) | $449,554 (6.0%) | 0.00 | 514 |
2019-07-01 | $337,000 (7.4%) | $429,304 (2.7%) | 0.00 | 527 |
2019-08-01 | $335,727 (8.3%) | $423,252 (2.7%) | 0.00 | 535 |
2019-09-01 | $335,318 (8.2%) | $422,272 (2.5%) | 0.00 | 542 |
2019-10-01 | $335,000 (6.8%) | $423,115 (6.3%) | 0.00 | 538 |
2019-11-01 | $335,500 (4.7%) | $429,303 (7.8%) | 0.00 | 499 |
2019-12-01 | $328,750 (1.2%) | $423,215 (5.3%) | 0.00 | 485 |
2020-01-01 | $339,000 (3.1%) | $421,708 (5.3%) | 0.00 | 430 |
2020-02-01 | $339,950 (4.6%) | $427,339 (5.5%) | 0.00 | 418 |
2020-03-01 | $347,500 (5.9%) | $437,376 (1.0%) | 0.00 | 446 |
2020-04-01 | $345,250 (4.4%) | $426,215 (1.6%) | 0.00 | 448 |
2020-05-01 | $349,500 (4.3%) | $440,705 (2.6%) | 0.00 | 426 |
2020-06-01 | $355,700 (5.6%) | $457,011 (1.7%) | 0.00 | 362 |
2020-07-01 | $366,975 (8.9%) | $479,305 (11.7%) | 0.00 | 317 |
2020-08-01 | $389,900 (16.1%) | $498,818 (17.9%) | 0.00 | 272 |
2020-09-01 | $394,975 (17.8%) | $519,314 (23.0%) | 0.00 | 271 |
2020-10-01 | $389,500 (16.3%) | $531,018 (25.5%) | 0.00 | 249 |
2020-11-01 | $397,474 (18.5%) | $558,818 (30.2%) | 0.00 | 252 |
2020-12-01 | $399,000 (21.4%) | $565,676 (33.7%) | 0.00 | 218 |
2021-01-01 | $399,950 (18.0%) | $595,358 (41.2%) | 0.00 | 191 |
2021-02-01 | $422,000 (24.1%) | $630,832 (47.6%) | 0.00 | 159 |
2021-03-01 | $439,750 (26.6%) | $636,860 (45.6%) | 0.00 | 164 |
2021-04-01 | $434,975 (26.0%) | $613,566 (44.0%) | 0.00 | 170 |
2021-05-01 | $455,000 (30.2%) | $617,253 (40.1%) | 0.00 | 181 |
2021-06-01 | $444,000 (24.8%) | $607,656 (33.0%) | 0.00 | 194 |
2021-07-01 | $428,500 (16.8%) | $576,723 (20.3%) | 0.00 | 232 |
2021-08-01 | $438,310 (12.4%) | $576,262 (15.5%) | 0.00 | 252 |
2021-09-01 | $440,925 (11.6%) | $572,953 (10.3%) | 0.00 | 282 |
2021-10-01 | $459,000 (17.8%) | $614,306 (15.7%) | 0.00 | 267 |
2021-11-01 | $471,000 (18.5%) | $622,572 (11.4%) | 0.00 | 261 |
2021-12-01 | $470,000 (17.8%) | $653,278 (15.5%) | 0.00 | 232 |
2022-01-01 | $490,000 (22.5%) | $667,100 (12.1%) | 0.00 | 195 |
2022-02-01 | $466,978 (10.7%) | $654,052 (3.7%) | 0.00 | 192 |
2022-03-01 | $487,000 (10.7%) | $704,040 (10.6%) | 0.00 | 193 |
2022-04-01 | $494,950 (13.8%) | $725,671 (18.3%) | 0.00 | 207 |
2022-05-01 | $503,725 (10.7%) | $695,427 (12.7%) | 0.00 | 244 |
2022-06-01 | $499,500 (12.5%) | $651,900 (7.3%) | 0.00 | 284 |
2022-07-01 | $493,990 (15.3%) | $644,687 (11.8%) | 0.00 | 353 |
2022-08-01 | $479,450 (9.4%) | $613,271 (6.4%) | 0.00 | 367 |
2022-09-01 | $492,367 (11.7%) | $614,768 (7.3%) | 0.00 | 374 |
2022-10-01 | $475,000 (3.5%) | $595,225 (-3.1%) | 0.00 | 423 |
2022-11-01 | $469,000 (-0.4%) | $588,587 (-5.5%) | 0.00 | 408 |
2022-12-01 | $469,500 (-0.1%) | $590,703 (-9.6%) | 0.00 | 371 |
Madera's median listing price comes in at 0% of the national average.
Madera's average listing price for 2022-12-01 was $590,703, a difference of $-62,575 (-9.6%) versus the prior year and $2,116 versus the prior month.
For the 2022-12-01 period, Madera had 371 MLS listings, a difference of -37 listings (-9%) versus the prior month and 139 listings (60%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Madera (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,988 sqft |
2018-02-01 | 0 days | 1,929 sqft |
2018-03-01 | 0 days | 2,000 sqft |
2018-04-01 | 0 days | 1,961 sqft |
2018-05-01 | 0 days | 1,979 sqft |
2018-06-01 | 0 days | 1,951 sqft |
2018-07-01 | 0 days | 1,925 sqft |
2018-08-01 | 0 days | 1,947 sqft |
2018-09-01 | 0 days | 1,930 sqft |
2018-10-01 | 0 days | 1,910 sqft |
2018-11-01 | 0 days | 1,920 sqft |
2018-12-01 | 0 days | 1,920 sqft |
2019-01-01 | 0 days | 1,945 sqft |
2019-02-01 | 0 days | 1,956 sqft |
2019-03-01 | 0 days | 1,928 sqft |
2019-04-01 | 0 days | 1,928 sqft |
2019-05-01 | 0 days | 1,953 sqft |
2019-06-01 | 0 days | 1,976 sqft |
2019-07-01 | 0 days | 1,953 sqft |
2019-08-01 | 0 days | 1,953 sqft |
2019-09-01 | 0 days | 1,952 sqft |
2019-10-01 | 0 days | 1,952 sqft |
2019-11-01 | 0 days | 1,953 sqft |
2019-12-01 | 0 days | 1,900 sqft |
2020-01-01 | 0 days | 1,920 sqft |
2020-02-01 | 0 days | 1,952 sqft |
2020-03-01 | 0 days | 1,960 sqft |
2020-04-01 | 0 days | 1,960 sqft |
2020-05-01 | 0 days | 1,990 sqft |
2020-06-01 | 0 days | 2,045 sqft |
2020-07-01 | 0 days | 2,023 sqft |
2020-08-01 | 0 days | 2,100 sqft |
2020-09-01 | 0 days | 2,113 sqft |
2020-10-01 | 0 days | 2,028 sqft |
2020-11-01 | 0 days | 2,070 sqft |
2020-12-01 | 0 days | 2,041 sqft |
2021-01-01 | 0 days | 2,079 sqft |
2021-02-01 | 0 days | 2,075 sqft |
2021-03-01 | 0 days | 2,142 sqft |
2021-04-01 | 0 days | 2,030 sqft |
2021-05-01 | 0 days | 2,044 sqft |
2021-06-01 | 0 days | 1,943 sqft |
2021-07-01 | 0 days | 1,912 sqft |
2021-08-01 | 0 days | 1,942 sqft |
2021-09-01 | 0 days | 2,012 sqft |
2021-10-01 | 0 days | 2,038 sqft |
2021-11-01 | 0 days | 2,070 sqft |
2021-12-01 | 0 days | 2,049 sqft |
2022-01-01 | 0 days | 2,100 sqft |
2022-02-01 | 0 days | 2,077 sqft |
2022-03-01 | 0 days | 1,998 sqft |
2022-04-01 | 0 days | 2,031 sqft |
2022-05-01 | 0 days | 2,012 sqft |
2022-06-01 | 0 days | 2,027 sqft |
2022-07-01 | 0 days | 2,000 sqft |
2022-08-01 | 0 days | 1,941 sqft |
2022-09-01 | 0 days | 1,985 sqft |
2022-10-01 | 0 days | 1,949 sqft |
2022-11-01 | 0 days | 1,961 sqft |
2022-12-01 | 0 days | 1,937 sqft |
Madera's median square footage for active listings during the 2022-12-01 period was 1,937 sqft. One year prior, the average listing was 2,049 sqft.