Medford FHA Loan Rates, Closing Costs & Stats

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 653 FHA loans during 2022. The total origination value was $198,535,000, with an average FHA loan value of $304,035.

Medford FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Medford averaged 6.28% for the week of 2024-02-16, compared to the national average (all FHA variants) of 6.611% for the same period.

Medford's average FHA mortgage closing costs are $9,667.

The average rate for the prior week (2024-02-09) was 6.19% and one month ago for the week of 2024-01-12, the average rate was 6.13%.

The average rate one year ago was 5.48%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.19%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
CROSSCOUNTRY MORTGAGE, LLC 72 5.02% $15,564
GUILD MORTGAGE COMPANY 50 4.62% $13,548
Willamette Valley Bank 35 4.78% $13,037
CALIBER HOME LOANS, INC. 29 4.14% $11,485
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 28 4.94% $13,853
Nations Lending Corporation 27 4.75% $10,537
QUICKEN LOANS, LLC 24 4.46% $13,188
MOVEMENT MORTGAGE, LLC 20 4.73% $10,868
LOANDEPOT.COM, LLC 19 4.77% $12,869
CMG MORTGAGE, INC. 18 4.83% $11,287
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 18 4.64% $13,469
UNITED WHOLESALE MORTGAGE, LLC 16 4.91% $12,891
S1L, Inc. 10 5.08% $11,309
SUMMIT FUNDING, INC. 9 5.39% $16,202
LAKEVIEW LOAN SERVICING, LLC 9 3.89% $8,806
PREMIER MORTGAGE RESOURCES, L.L.C. 8 5.55% $16,168
MORTGAGE EXPRESS, LLC 7 4.68% $10,152
PENNYMAC LOAN SERVICES, LLC 7 3.95% $12,088
MOUNTAIN WEST FINANCIAL, INC. 6 4.50% $13,285
Umpqua Bank 6 4.17% $11,127
MUTUAL OF OMAHA MORTGAGE, INC. 5 3.90% $13,230
CHURCHILL MORTGAGE CORPORATION 5 5.55% $13,099
FREEDOM MORTGAGE CORPORATION 5 4.70% $9,494
Mr. Cooper ( Nationstar Mortgage ) 4 4.13% $16,230
Flagstar Bank, FSB 4 4.41% $10,876
AMERICAN FINANCIAL RESOURCES, INC. 4 5.03% $17,087
Loan Simple, Inc. 4 5.84% $17,716
HOME POINT FINANCIAL CORPORATION 3 3.96% $10,689
PLAZA HOME MORTGAGE, INC. 3 4.79% $10,827
Banner Bank 2 4.00% $9,722
Sierra Pacific Mortgage Company, Inc. 2 4.50% $12,939
NATIONS DIRECT MORTGAGE, LLC 2 5.25% $17,048
JPMorgan Chase Bank 2 5.81% $6,160
Texana Bank 2 4.63% $14,744
The Federal Savings Bank 2 4.13% $20,146
Mortgage Research Center, LLC 2 5.75% $12,069
CARDINAL FINANCIAL 2 5.56% $13,282
KELLER MORTGAGE, LLC 2 4.44% $9,471
NEWREZ LLC 2 4.56% $14,112
V.I.P. MORTGAGE, INC. 2 5.25% $12,222
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.69% $12,853
Hometown Lenders, Inc. 2 4.87% $12,781
Barrington Bank & Trust Company, N.A. 2 3.19% $9,883
BROKER SOLUTIONS, INC. 2 6.19% $14,020
VILLAGE CAPITAL MORTGAGE 1 2.25% $3,037
AMERICAN FINANCING CORPORATION 1 4.88% $20,742
ZILLOW HOME LOANS, LLC 1 5.00% $19,321
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 4.38% $15,170
EVERETT FINANCIAL, INC. 1 4.13% $9,097
CHERRY CREEK MORTGAGE, LLC 1 3.25% $7,713
First Guaranty Mortgage Corporation 1 3.13% $14,411
Carrington Mortgage Services, LLC 1 4.63% $12,245
Hometown Equity Mortgage, LLC 1 3.75% $14,416
INTERCAP LENDING INC. 1 5.13% $15,313
KeyBank 1 6.88% $5,371
Lakeview Community Capital, LLC 1 4.25% $9,433
LAND HOME FINANCIAL SERVICES, INC. 1 4.75% $12,720
Leader Bank 1 4.75% $11,870
Lend Smart Mortgage, LLC 1 3.38% $10,020
LOANPAL, LLC 1 4.50% $20,148
MANN FINANCIAL INC. 1 3.13% $15,294
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.25% $16,161
BETTER MORTGAGE CORPORATION 1 2.38% $15,570
BEST FINANCE CAPITAL, INC. 1 4.75% $23,629
ON Q FINANCIAL, INC. 1 6.75% $10,335
Equity Prime Mortgage LLC 1 4.63% $7,158
PREMIER LENDING, INC. 1 3.25% $13,331
RANLIFE, INC. 1 3.50% $9,474
RELIANCE FIRST CAPITAL, LLC 1 2.75% $12,872
SOVEREIGN LENDING GROUP INCORPORATED 1 4.75% $16,306
Stifel Bank and Trust 1 4.13% $15,290
SUCCESS MORTGAGE PARTNERS, INC. 1 6.13% $17,111
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 4.75% $11,822
TruHome Solutions, LLC 1 5.13% $10,758
AMERISAVE MORTGAGE CORPORATION 1 2.88% $20,786

The top Medford FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 72 FHA loans originated. Their average total fees are $15,564, which is $2,016 higher than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Medford FHA lenders (with over 10 loans originated) are Nations Lending Corporation ($10,537), MOVEMENT MORTGAGE, LLC ($10,868), CMG MORTGAGE, INC. ($11,287), S1L, Inc. ($11,309) and CALIBER HOME LOANS, INC. ($11,485).

The lowest rate Medford FHA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (4.14%), QUICKEN LOANS, LLC (4.46%), GUILD MORTGAGE COMPANY (4.62%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (4.64%) and MOVEMENT MORTGAGE, LLC (4.73%).

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
Medford's median listing price for 2023-12-01 was $514,500, a difference of $4,500 (0.9%) versus the prior year and $-10,500 versus the prior month.

Medford's median listing price comes in at 125% of the national average.

Medford's average listing price for 2023-12-01 was $700,194, a difference of $-15,694 (-2.2%) versus the prior year and $-18,335 versus the prior month.

For the 2023-12-01 period, Medford had 628 MLS listings, a difference of -45 listings (-7%) versus the prior month and 2 listings (0%) 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
Medford's median listing age (time on market) for 2023-12-01 was 78 days. This is -9% shorter than the same period one year ago.

Medford's median square footage for active listings during the 2023-12-01 period was 1,798 sqft. One year prior, the average listing was 1,796 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).