Medford FHA Loans

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 75 lenders originated 991 FHA loans during 2021. The total origination value was $266,335,000, with an average FHA loan value of $268,754.

    Medford FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Medford averaged 5.39% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

    The average rate for the prior week (2022-05-06) was 5.12% and one month ago for the week of 2022-04-08, the average rate was 5.09%.

    The average rate one year ago was 3%.

    For refis of the same type during the week of 2022-05-13, the average rate was 4.96%.

    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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Medford level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    GUILD MORTGAGE COMPANY 100 2.97% $10,882
    CROSSCOUNTRY MORTGAGE, LLC 95 3.24% $14,128
    CALIBER HOME LOANS, INC. 76 2.77% $8,887
    LAKEVIEW LOAN SERVICING, LLC 64 2.90% $5,803
    Willamette Valley Bank 55 2.88% $9,419
    QUICKEN LOANS, LLC 45 2.57% $7,917
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 34 3.39% $11,512
    MOVEMENT MORTGAGE, LLC 33 3.18% $7,935
    FREEDOM MORTGAGE CORPORATION 27 2.73% $6,203
    PENNYMAC LOAN SERVICES, LLC 22 3.03% $7,175
    CMG MORTGAGE, INC. 19 3.00% $10,223
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 18 3.12% $11,127
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 15 2.78% $9,949
    MUTUAL OF OMAHA MORTGAGE, INC. 13 3.22% $10,066
    HOMEBRIDGE FINANCIAL SERVICES, INC. 11 2.59% $6,282
    People's Bank of Commerce 10 2.72% $9,286
    LOANDEPOT.COM, LLC 10 3.00% $9,792
    PACIFIC RESIDENTIAL MORTGAGE, LLC 9 3.08% $9,947
    VILLAGE CAPITAL & INVESTMENT LLC 9 2.68% $3,584
    SUMMIT FUNDING, INC. 9 3.46% $12,284
    Umpqua Bank 8 3.02% $9,124
    UNITED WHOLESALE MORTGAGE, LLC 8 2.67% $9,667
    Banner Bank 7 2.46% $9,307
    Mr. Cooper ( Nationstar Mortgage ) 7 3.18% $5,296
    AMERISAVE MORTGAGE CORPORATION 6 3.04% $10,087
    NEWREZ LLC 6 2.83% $5,737
    Sierra Pacific Mortgage Company, Inc. 6 2.79% $9,584
    U.S. Bank 6 3.04% $8,186
    Carrington Mortgage Services, LLC 5 3.05% $9,086
    BROKER SOLUTIONS, INC. 5 2.99% $9,115
    AmeriHome Mortgage Company, LLC 5 2.63% $5,835
    MORIA DEVELOPMENT, INC. 5 3.43% $11,690
    AMERICAN FINANCIAL RESOURCES, INC. 4 2.63% $12,204
    MOUNTAIN WEST FINANCIAL, INC. 4 3.13% $10,416
    CHERRY CREEK MORTGAGE, LLC 4 2.78% $13,190
    Commerce Home Mortgage, Inc. 4 3.41% $8,655
    STEARNS LENDING, LLC 4 2.84% $8,995
    S1L, Inc. 4 3.47% $10,707
    HOME POINT FINANCIAL CORPORATION 4 2.84% $10,109
    Nations Lending Corporation 3 2.75% $11,201
    AMERICAN FINANCING CORPORATION 3 2.79% $5,548
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 2.88% $8,678
    EVERETT FINANCIAL, INC. 3 3.04% $8,774
    MANN FINANCIAL INC. 3 2.71% $10,245
    NATIONS DIRECT MORTGAGE, LLC 3 2.83% $13,029
    InterContinental Capital Group, Inc 2 2.44% $8,096
    OCEANSIDE MORTGAGE COMPANY 2 2.62% $3,511
    SOVEREIGN LENDING GROUP INCORPORATED 2 3.25% $9,251
    TruHome Solutions, LLC 2 3.06% $10,767
    MID AMERICA MORTGAGE, INC. 2 3.06% $3,576
    LAND HOME FINANCIAL SERVICES, INC. 1 3.50% $13,611
    KeyBank 1 2.63% $10,527
    PLANET HOME LENDING, LLC 1 2.63% $7,152
    PREMIER LENDING, INC. 1 2.38% $8,955
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 3.13% $9,777
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.75% $19,000
    RANLIFE, INC. 1 2.74% $8,391
    RELIANCE FIRST CAPITAL, LLC 1 2.25% $11,958
    AMERICAN FINANCIAL NETWORK, INC. 1 3.75% $16,549
    Flagstar Bank, FSB 1 3.05% $10,396
    First Interstate Bank 1 2.75% $13,994
    SIRVA MORTGAGE, INC. 1 3.50% $7,890
    SOUTHWEST STAGE FUNDING, LLC 1 2.75% $4,784
    DIRECTORS MORTGAGE, INC. 1 2.99% $13,664
    CELEBRITY HOME LOANS, LLC 1 3.63% $5,547
    SUMMIT MORTGAGE CORPORATION 1 2.75% $9,591
    BEST CAPITAL FUNDING 1 3.38% $6,820
    BAYSHORE MORTGAGE FUNDING, LLC 1 3.25% $13,546
    ARC HOME LLC 1 3.25% $12,515
    Amerifirst Financial, Inc. 1 3.75% $8,787
    ROGUE 1 3.50% $4,819
    ACADEMY MORTGAGE CORPORATION 1 2.75% $9,739
    LOANPAL, LLC 1 2.75% $9,394
    Northpointe Bank 1 2.50% $8,086
    LENDING 3, INC. 1 2.75% $16,623

    The top Medford FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 100 FHA loans originated. Their average total fees are $10,882, which is $3,246 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Medford FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($5,803), FREEDOM MORTGAGE CORPORATION ($6,203), HOMEBRIDGE FINANCIAL SERVICES, INC. ($6,282), PENNYMAC LOAN SERVICES, LLC ($7,175) and QUICKEN LOANS, LLC ($7,917).

    The lowest rate Medford FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.57%), HOMEBRIDGE FINANCIAL SERVICES, INC. (2.59%), People's Bank of Commerce (2.72%), FREEDOM MORTGAGE CORPORATION (2.73%) and CALIBER HOME LOANS, INC. (2.77%).

    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

    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 $404,900 (4.1%) $600,421 (2.9%) 1.49 764
    2018-02-01 $418,750 (5.0%) $612,160 (4.8%) 1.51 779
    2018-03-01 $420,000 (5.3%) $605,372 (4.4%) 1.45 821
    2018-04-01 $419,500 (2.6%) $585,530 (-1.9%) 1.41 901
    2018-05-01 $427,000 (3.5%) $599,884 (1.3%) 1.42 988
    2018-06-01 $440,000 (6.9%) $632,008 (7.7%) 1.47 1,048
    2018-07-01 $437,450 (9.4%) $591,673 (-1.3%) 1.46 1,146
    2018-08-01 $417,000 (4.5%) $577,562 (0.1%) 1.39 1,164
    2018-09-01 $415,000 (4.0%) $580,637 (-1.1%) 1.39 1,197
    2018-10-01 $404,500 (1.6%) $568,011 (-0.8%) 1.35 1,255
    2018-11-01 $406,500 (1.6%) $592,002 (4.6%) 1.36 1,213
    2018-12-01 $403,000 (-2.9%) $584,866 (-2.6%) 1.38 1,093
    2019-01-01 $400,000 (-1.2%) $572,057 (-4.7%) 1.38 987
    2019-02-01 $400,000 (-4.5%) $582,882 (-4.8%) 1.34 1,006
    2019-03-01 $413,000 (-1.7%) $594,692 (-1.8%) 1.35 1,059
    2019-04-01 $430,000 (2.5%) $601,337 (2.7%) 1.35 1,135
    2019-05-01 $445,000 (4.2%) $615,773 (2.7%) 1.37 1,229
    2019-06-01 $444,900 (1.1%) $609,790 (-3.5%) 1.37 1,341
    2019-07-01 $427,500 (-2.3%) $608,512 (2.9%) 1.33 1,320
    2019-08-01 $422,757 (1.4%) $609,682 (5.6%) 1.33 1,276
    2019-09-01 $419,450 (1.1%) $609,543 (5.0%) 1.33 1,211
    2019-10-01 $404,950 (0.1%) $603,277 (6.2%) 1.29 1,123
    2019-11-01 $410,000 (0.9%) $613,346 (3.6%) 1.32 975
    2019-12-01 $422,000 (4.7%) $621,302 (6.2%) 1.41 812
    2020-01-01 $409,000 (2.3%) $631,258 (10.4%) 1.36 722
    2020-02-01 $420,000 (5.0%) $630,202 (8.1%) 1.36 706
    2020-03-01 $439,450 (6.4%) $661,104 (11.2%) 1.37 712
    2020-04-01 $439,450 (2.2%) $659,406 (9.7%) 1.37 763
    2020-05-01 $459,000 (3.2%) $686,313 (11.5%) 1.39 718
    2020-06-01 $477,000 (7.2%) $732,613 (20.1%) 1.39 632
    2020-07-01 $477,000 (11.6%) $741,067 (21.8%) 1.37 584
    2020-08-01 $485,000 (14.7%) $749,542 (22.9%) 1.39 529
    2020-09-01 $524,000 (24.9%) $776,106 (27.3%) 1.50 420
    2020-10-01 $559,900 (38.3%) $808,742 (34.1%) 1.60 332
    2020-11-01 $557,500 (36.0%) $818,819 (33.5%) 1.60 319
    2020-12-01 $534,950 (26.8%) $744,511 (19.8%) 1.57 306
    2021-01-01 $529,000 (29.3%) $757,870 (20.1%) 1.56 254
    2021-02-01 $509,500 (21.3%) $785,503 (24.6%) 1.47 254
    2021-03-01 $507,450 (15.5%) $738,577 (11.7%) 1.42 289
    2021-04-01 $492,000 (12.0%) $707,489 (7.3%) 1.32 282
    2021-05-01 $525,000 (14.4%) $719,245 (4.8%) 1.38 330
    2021-06-01 $531,500 (11.4%) $708,081 (-3.4%) 1.38 389
    2021-07-01 $525,000 (10.1%) $714,890 (-3.5%) 1.36 422
    2021-08-01 $520,000 (7.2%) $703,582 (-6.1%) 1.37 459
    2021-09-01 $504,500 (-3.7%) $688,171 (-11.3%) 1.33 508
    2021-10-01 $500,000 (-10.7%) $688,911 (-14.8%) 1.32 569
    2021-11-01 $522,000 (-6.4%) $705,683 (-13.8%) 1.38 511
    2021-12-01 $510,000 (-4.7%) $714,196 (-4.1%) 1.36 425
    2022-01-01 $549,900 (4.0%) $745,150 (-1.7%) 1.47 346
    2022-02-01 $580,000 (13.8%) $775,328 (-1.3%) 1.48 347
    2022-03-01 $552,500 (8.9%) $765,657 (3.7%) 1.36 388
    2022-04-01 $565,000 (14.8%) $749,100 (5.9%) 1.33 469
    Medford's median listing price for 2022-04-01 was $565,000, a difference of $73,000 (14.8%) versus the prior year and $12,500 versus the prior month.

    Medford's median listing price comes in at 133% of the national average.

    Medford's average listing price for 2022-04-01 was $749,100, a difference of $41,611 (5.9%) versus the prior year and $-16,557 versus the prior month.

    For the 2022-04-01 period, Medford had 469 MLS listings, a difference of 81 listings (21%) versus the prior month and 187 listings (66%) 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 87 days 1,920 sqft
    2018-02-01 83 days 1,924 sqft
    2018-03-01 68 days 1,964 sqft
    2018-04-01 58 days 1,966 sqft
    2018-05-01 55 days 2,007 sqft
    2018-06-01 54 days 2,052 sqft
    2018-07-01 58 days 2,042 sqft
    2018-08-01 63 days 2,015 sqft
    2018-09-01 77 days 2,000 sqft
    2018-10-01 76 days 1,973 sqft
    2018-11-01 75 days 1,990 sqft
    2018-12-01 85 days 1,944 sqft
    2019-01-01 95 days 1,889 sqft
    2019-02-01 95 days 1,903 sqft
    2019-03-01 69 days 1,918 sqft
    2019-04-01 60 days 1,944 sqft
    2019-05-01 51 days 2,011 sqft
    2019-06-01 54 days 1,998 sqft
    2019-07-01 65 days 1,952 sqft
    2019-08-01 74 days 1,936 sqft
    2019-09-01 80 days 1,930 sqft
    2019-10-01 81 days 1,937 sqft
    2019-11-01 86 days 1,948 sqft
    2019-12-01 90 days 1,904 sqft
    2020-01-01 89 days 1,880 sqft
    2020-02-01 84 days 1,861 sqft
    2020-03-01 56 days 1,918 sqft
    2020-04-01 55 days 1,919 sqft
    2020-05-01 60 days 2,065 sqft
    2020-06-01 65 days 2,133 sqft
    2020-07-01 65 days 2,156 sqft
    2020-08-01 60 days 2,128 sqft
    2020-09-01 62 days 2,213 sqft
    2020-10-01 70 days 2,189 sqft
    2020-11-01 53 days 2,151 sqft
    2020-12-01 58 days 1,979 sqft
    2021-01-01 67 days 1,935 sqft
    2021-02-01 53 days 1,896 sqft
    2021-03-01 43 days 1,933 sqft
    2021-04-01 46 days 1,860 sqft
    2021-05-01 35 days 1,904 sqft
    2021-06-01 41 days 1,881 sqft
    2021-07-01 42 days 1,882 sqft
    2021-08-01 43 days 1,863 sqft
    2021-09-01 46 days 1,846 sqft
    2021-10-01 43 days 1,837 sqft
    2021-11-01 48 days 1,865 sqft
    2021-12-01 57 days 1,826 sqft
    2022-01-01 72 days 1,864 sqft
    2022-02-01 55 days 1,924 sqft
    2022-03-01 40 days 1,844 sqft
    2022-04-01 39 days 1,863 sqft
    Medford's median listing age (time on market) for 2022-04-01 was 39 days. This is -14% shorter than the same period one year ago.

    Medford's median square footage for active listings during the 2022-04-01 period was 1,863 sqft. One year prior, the average listing was 1,860 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).