Medford FHA Loan Rates, Closing Costs & Stats

MEDFORD, OR

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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.

    Medford's 57 lenders originated 456 FHA loans during 2023. The total origination value was $144,080,000, with an average FHA loan value of $315,965.

    Medford FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Medford averaged -0.09% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Medford's average FHA mortgage closing costs are $10,175.

    The average rate for the prior week (2024-11-08) was 6.21% and one month ago for the week of 2024-10-11, the average rate was 6.22%.

    The average rate one year ago was 7.36%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.18%.

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

    Medford 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 Medford level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CROSSCOUNTRY MORTGAGE, LLC 63 6.98% $15,040
    GUILD MORTGAGE COMPANY 55 6.37% $14,792
    UNITED WHOLESALE MORTGAGE, LLC 29 6.20% $13,883
    Nations Lending Corporation 25 6.72% $11,799
    Willamette Valley Bank 25 6.53% $15,260
    MOVEMENT MORTGAGE, LLC 17 6.78% $14,776
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 13 6.56% $15,023
    MUTUAL OF OMAHA MORTGAGE, INC. 12 6.68% $13,415
    CMG MORTGAGE, INC. 12 6.40% $14,915
    MORTGAGE EXPRESS, LLC 12 6.39% $13,938
    PENNYMAC LOAN SERVICES, LLC 10 6.09% $14,365
    NEWREZ LLC 10 6.46% $13,763
    QUICKEN LOANS, LLC 10 6.05% $14,668
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 6.33% $16,572
    PREMIER MORTGAGE RESOURCES, L.L.C. 9 6.63% $18,655
    SUMMIT FUNDING, INC. 9 6.58% $17,328
    LOANDEPOT.COM, LLC 7 6.48% $15,926
    PACIFIC RESIDENTIAL MORTGAGE, LLC 7 6.45% $15,821
    Sierra Pacific Mortgage Company, Inc. 5 6.47% $13,638
    AMERICAN FINANCIAL RESOURCES, INC. 4 5.47% $16,726
    MOUNTAIN WEST FINANCIAL, INC. 4 6.03% $11,647
    PLANET HOME LENDING, LLC 3 6.00% $10,142
    BROKER SOLUTIONS, INC. 3 6.75% $13,050
    AMERISAVE MORTGAGE CORPORATION 3 5.75% $12,561
    Flagstar Bank, FSB 3 6.07% $14,782
    Umpqua Bank 3 6.58% $11,853
    Mortgage Research Center, LLC 2 7.19% $5,468
    Banner Bank 2 6.25% $12,004
    CARDINAL FINANCIAL 2 7.38% $16,963
    Century Mortgage Company DBA Century Lending Company 2 5.94% $13,186
    EMM LOANS LLC 2 6.13% $14,647
    Equity Prime Mortgage LLC 2 6.56% $12,802
    FREEDOM MORTGAGE CORPORATION 2 7.00% $14,630
    JPMorgan Chase Bank 2 6.62% $10,642
    PLAZA HOME MORTGAGE, INC. 2 5.75% $16,017
    S1L, Inc. 2 6.25% $15,431
    SUN WEST MORTGAGE COMPANY, INC. 2 6.60% $20,710
    VERITAS FUNDING, LLC 2 6.81% $20,012
    OCMBC, INC. 1 7.25% $13,481
    MID AMERICA MORTGAGE, INC. 1 6.38% $5,212
    Loan Simple, Inc. 1 6.75% $15,987
    PHH Mortgage Corporation 1 5.99% $18,836
    Plains Commerce Bank 1 5.13% $10,787
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.63% $9,609
    U.S. Bank 1 5.88% $10,582
    DIRECTORS MORTGAGE, INC. 1 6.63% $14,212
    DHI MORTGAGE COMPANY, LTD. 1 4.99% $11,727
    AMERICAN FINANCING CORPORATION 1 6.25% $12,800
    Credence Funding Corporation 1 5.88% $7,623
    CHURCHILL MORTGAGE CORPORATION 1 6.75% $12,080
    Wells Fargo Bank 1 6.63% $8,006
    CALIBER HOME LOANS, INC. 1 6.25% $10,382
    American Mortgage & Equity Consultants, Inc. 1 6.63% $21,266
    NATIONS DIRECT MORTGAGE, LLC 1 6.63% $13,368
    NBKC BANK 1 6.63% $12,445
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $22,126
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 6.75% $15,115

    The top Medford FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 63 FHA loans originated. Their average total fees are $15,040, which is $249 higher than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Medford FHA lenders (with over 10 loans originated) are Nations Lending Corporation ($11,799), MUTUAL OF OMAHA MORTGAGE, INC. ($13,415), NEWREZ LLC ($13,763), UNITED WHOLESALE MORTGAGE, LLC ($13,883) and MORTGAGE EXPRESS, LLC ($13,938).

    The lowest rate Medford FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.05%), PENNYMAC LOAN SERVICES, LLC (6.09%), UNITED WHOLESALE MORTGAGE, LLC (6.20%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.33%) and GUILD MORTGAGE COMPANY (6.37%).

    Medford FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    MEDFORD, OR JACKSON 2022 $420,680 $538,650 $651,050 $809,150
    MEDFORD, OR JACKSON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Medford (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 $399,500 (3.3%) $586,557 (2.4%) 1.48 745
    2018-02-01 $412,100 (3.4%) $594,461 (3.2%) 1.50 758
    2018-03-01 $410,000 (3.8%) $594,480 (5.2%) 1.44 799
    2018-04-01 $400,000 (-0.6%) $573,661 (-3.7%) 1.36 877
    2018-05-01 $422,000 (4.0%) $583,464 (-0.7%) 1.41 958
    2018-06-01 $430,000 (7.5%) $612,892 (5.4%) 1.43 1,004
    2018-07-01 $428,125 (7.3%) $586,293 (-0.5%) 1.43 1,096
    2018-08-01 $409,475 (3.7%) $567,569 (0.8%) 1.37 1,106
    2018-09-01 $400,000 (1.3%) $563,130 (-2.6%) 1.34 1,140
    2018-10-01 $399,950 (1.9%) $555,395 (-2.3%) 1.35 1,205
    2018-11-01 $399,975 (0.1%) $567,113 (1.2%) 1.36 1,161
    2018-12-01 $399,900 (0.0%) $561,137 (-3.9%) 1.38 1,037
    2019-01-01 $399,900 (0.1%) $553,816 (-5.6%) 1.38 939
    2019-02-01 $399,900 (-3.0%) $558,588 (-6.0%) 1.35 952
    2019-03-01 $408,514 (-0.4%) $566,999 (-4.6%) 1.34 1,004
    2019-04-01 $424,500 (6.1%) $573,978 (0.1%) 1.35 1,076
    2019-05-01 $442,000 (4.7%) $584,820 (0.2%) 1.38 1,166
    2019-06-01 $439,000 (2.1%) $582,119 (-5.0%) 1.37 1,266
    2019-07-01 $424,500 (-0.9%) $581,144 (-0.9%) 1.33 1,246
    2019-08-01 $417,245 (1.9%) $582,603 (2.7%) 1.32 1,202
    2019-09-01 $413,114 (3.3%) $585,737 (4.0%) 1.32 1,141
    2019-10-01 $404,950 (1.3%) $583,366 (5.0%) 1.31 1,096
    2019-11-01 $407,000 (1.8%) $586,971 (3.5%) 1.33 956
    2019-12-01 $408,500 (2.2%) $596,749 (6.4%) 1.36 795
    2020-01-01 $399,950 (0.0%) $604,484 (9.2%) 1.34 703
    2020-02-01 $416,450 (4.1%) $610,166 (9.2%) 1.36 692
    2020-03-01 $437,000 (7.0%) $639,712 (12.8%) 1.37 699
    2020-04-01 $435,000 (2.5%) $636,647 (10.9%) 1.36 752
    2020-05-01 $449,450 (1.7%) $646,115 (10.5%) 1.37 701
    2020-06-01 $460,750 (5.0%) $665,598 (14.3%) 1.36 615
    2020-07-01 $460,950 (8.6%) $668,741 (15.1%) 1.34 562
    2020-08-01 $475,000 (13.8%) $666,949 (14.5%) 1.36 506
    2020-09-01 $484,000 (17.2%) $681,578 (16.4%) 1.39 402
    2020-10-01 $484,900 (19.7%) $684,225 (17.3%) 1.39 321
    2020-11-01 $486,500 (19.5%) $692,166 (17.9%) 1.42 311
    2020-12-01 $499,500 (22.3%) $671,052 (12.5%) 1.49 294
    2021-01-01 $500,000 (25.0%) $688,603 (13.9%) 1.49 246
    2021-02-01 $503,625 (20.9%) $722,127 (18.4%) 1.47 244
    2021-03-01 $499,000 (14.2%) $680,957 (6.5%) 1.42 278
    2021-04-01 $483,750 (11.2%) $663,530 (4.2%) 1.31 272
    2021-05-01 $518,000 (15.3%) $686,912 (6.3%) 1.38 316
    2021-06-01 $525,000 (13.9%) $679,280 (2.1%) 1.38 376
    2021-07-01 $512,000 (11.1%) $679,957 (1.7%) 1.35 417
    2021-08-01 $514,000 (8.2%) $673,208 (0.9%) 1.37 449
    2021-09-01 $499,500 (3.2%) $658,231 (-3.4%) 1.33 498
    2021-10-01 $510,000 (5.2%) $666,876 (-2.5%) 1.36 557
    2021-11-01 $523,500 (7.6%) $694,541 (0.3%) 1.40 499
    2021-12-01 $512,500 (2.6%) $709,732 (5.8%) 1.39 416
    2022-01-01 $549,250 (9.9%) $743,280 (7.9%) 1.48 341
    2022-02-01 $577,425 (14.7%) $768,770 (6.5%) 1.50 341
    2022-03-01 $550,000 (10.2%) $748,428 (9.9%) 1.38 376
    2022-04-01 $552,500 (14.2%) $727,212 (9.6%) 1.32 464
    2022-05-01 $556,250 (7.4%) $717,151 (4.4%) 1.27 605
    2022-06-01 $557,500 (6.2%) $720,456 (6.1%) 1.24 716
    2022-07-01 $535,000 (4.5%) $699,466 (2.9%) 1.21 839
    2022-08-01 $529,450 (3.0%) $698,940 (3.8%) 1.22 836
    2022-09-01 $528,750 (5.9%) $695,272 (5.6%) 1.24 766
    2022-10-01 $534,900 (4.9%) $719,484 (7.9%) 1.26 745
    2022-11-01 $524,975 (0.3%) $706,794 (1.8%) 1.26 706
    2022-12-01 $510,000 (-0.5%) $715,888 (0.9%) 1.26 626
    2023-01-01 $517,225 (-5.8%) $723,692 (-2.6%) 1.28 533
    2023-02-01 $548,000 (-5.1%) $753,862 (-1.9%) 1.32 501
    2023-03-01 $541,925 (-1.5%) $743,258 (-0.7%) 1.28 516
    2023-04-01 $544,950 (-1.4%) $738,022 (1.5%) 1.27 532
    2023-05-01 $549,000 (-1.3%) $741,518 (3.4%) 1.24 624
    2023-06-01 $552,500 (-0.9%) $767,250 (6.5%) 1.24 675
    2023-07-01 $549,900 (2.8%) $753,810 (7.8%) 1.25 706
    2023-08-01 $550,000 (3.9%) $741,088 (6.0%) 1.26 679
    2023-09-01 $535,000 (1.2%) $710,473 (2.2%) 1.25 696
    2023-10-01 $505,000 (-5.6%) $685,860 (-4.7%) 1.19 725
    2023-11-01 $525,000 (0.0%) $718,529 (1.7%) 1.25 673
    2023-12-01 $514,500 (0.9%) $700,194 (-2.2%) 1.25 628
    2024-01-01 $499,000 (-3.5%) $687,083 (-5.1%) 1.22 562
    2024-02-01 $499,473 (-8.9%) $684,429 (-9.2%) 1.20 541
    2024-03-01 $529,500 (-2.3%) $706,215 (-5.0%) 1.25 597
    2024-04-01 $526,750 (-3.3%) $715,120 (-3.1%) 1.23 672
    2024-05-01 $554,750 (1.1%) $750,569 (1.2%) 1.25 725
    2024-06-01 $550,000 (-0.5%) $749,626 (-2.3%) 1.24 751
    2024-07-01 $552,863 (0.5%) $754,045 (0.0%) 1.26 806
    2024-08-01 $540,000 (-1.8%) $733,501 (-1.0%) 1.26 863
    2024-09-01 $531,970 (-0.6%) $719,462 (1.3%) 1.25 917
    2024-10-01 $534,750 (5.9%) $710,617 (3.6%) 1.26 963
    Medford's median listing price for 2024-10-01 was $534,750, a difference of $29,750 (5.9%) versus the prior year and $2,780 versus the prior month.

    Medford's median listing price comes in at 126% of the national average.

    Medford's average listing price for 2024-10-01 was $710,617, a difference of $24,757 (3.6%) versus the prior year and $-8,845 versus the prior month.

    For the 2024-10-01 period, Medford had 963 MLS listings, a difference of 46 listings (5%) versus the prior month and 238 listings (33%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Medford (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 80 days 1,900 sqft
    2018-02-01 74 days 1,911 sqft
    2018-03-01 61 days 1,931 sqft
    2018-04-01 50 days 1,936 sqft
    2018-05-01 50 days 1,987 sqft
    2018-06-01 51 days 2,026 sqft
    2018-07-01 53 days 2,016 sqft
    2018-08-01 59 days 1,982 sqft
    2018-09-01 71 days 1,962 sqft
    2018-10-01 71 days 1,937 sqft
    2018-11-01 67 days 1,946 sqft
    2018-12-01 78 days 1,918 sqft
    2019-01-01 87 days 1,881 sqft
    2019-02-01 83 days 1,889 sqft
    2019-03-01 69 days 1,903 sqft
    2019-04-01 52 days 1,930 sqft
    2019-05-01 45 days 1,999 sqft
    2019-06-01 50 days 1,981 sqft
    2019-07-01 59 days 1,938 sqft
    2019-08-01 65 days 1,933 sqft
    2019-09-01 70 days 1,943 sqft
    2019-10-01 73 days 1,937 sqft
    2019-11-01 75 days 1,938 sqft
    2019-12-01 78 days 1,874 sqft
    2020-01-01 80 days 1,860 sqft
    2020-02-01 72 days 1,858 sqft
    2020-03-01 45 days 1,909 sqft
    2020-04-01 49 days 1,907 sqft
    2020-05-01 60 days 2,026 sqft
    2020-06-01 69 days 2,056 sqft
    2020-07-01 69 days 2,086 sqft
    2020-08-01 61 days 2,071 sqft
    2020-09-01 68 days 2,113 sqft
    2020-10-01 78 days 2,042 sqft
    2020-11-01 59 days 1,984 sqft
    2020-12-01 57 days 1,914 sqft
    2021-01-01 66 days 1,893 sqft
    2021-02-01 44 days 1,872 sqft
    2021-03-01 39 days 1,906 sqft
    2021-04-01 43 days 1,846 sqft
    2021-05-01 33 days 1,882 sqft
    2021-06-01 38 days 1,882 sqft
    2021-07-01 39 days 1,879 sqft
    2021-08-01 43 days 1,868 sqft
    2021-09-01 43 days 1,848 sqft
    2021-10-01 44 days 1,838 sqft
    2021-11-01 54 days 1,869 sqft
    2021-12-01 67 days 1,835 sqft
    2022-01-01 75 days 1,865 sqft
    2022-02-01 54 days 1,927 sqft
    2022-03-01 40 days 1,841 sqft
    2022-04-01 38 days 1,860 sqft
    2022-05-01 36 days 1,851 sqft
    2022-06-01 40 days 1,882 sqft
    2022-07-01 46 days 1,825 sqft
    2022-08-01 56 days 1,825 sqft
    2022-09-01 65 days 1,811 sqft
    2022-10-01 73 days 1,829 sqft
    2022-11-01 80 days 1,836 sqft
    2022-12-01 86 days 1,796 sqft
    2023-01-01 94 days 1,822 sqft
    2023-02-01 92 days 1,858 sqft
    2023-03-01 59 days 1,866 sqft
    2023-04-01 53 days 1,840 sqft
    2023-05-01 49 days 1,858 sqft
    2023-06-01 49 days 1,891 sqft
    2023-07-01 56 days 1,894 sqft
    2023-08-01 62 days 1,890 sqft
    2023-09-01 64 days 1,886 sqft
    2023-10-01 65 days 1,828 sqft
    2023-11-01 72 days 1,828 sqft
    2023-12-01 78 days 1,798 sqft
    2024-01-01 84 days 1,785 sqft
    2024-02-01 82 days 1,777 sqft
    2024-03-01 59 days 1,836 sqft
    2024-04-01 49 days 1,852 sqft
    2024-05-01 51 days 1,881 sqft
    2024-06-01 54 days 1,900 sqft
    2024-07-01 61 days 1,925 sqft
    2024-08-01 63 days 1,920 sqft
    2024-09-01 73 days 1,884 sqft
    2024-10-01 80 days 1,878 sqft
    Medford's median listing age (time on market) for 2024-10-01 was 80 days. This is 23% longer than the same period one year ago.

    Medford's median square footage for active listings during the 2024-10-01 period was 1,878 sqft. One year prior, the average listing was 1,828 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).