Medford FHA Loans
MEDFORD, OR
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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.