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 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 6.66% for the week of 2024-07-12, compared to the national average (all FHA variants) of 6.655% for the same period.

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

The average rate for the prior week (2024-07-05) was 6.93% and one month ago for the week of 2024-06-07, the average rate was 6.91%.

The average rate one year ago was 6.71%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.64%.

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 $552,000 (-0.1%) $754,836 (-1.6%) 1.24 751
Medford's median listing price for 2024-06-01 was $552,000, a difference of $-500 (-0.1%) versus the prior year and $-2,750 versus the prior month.

Medford's median listing price comes in at 124% of the national average.

Medford's average listing price for 2024-06-01 was $754,836, a difference of $-12,414 (-1.6%) versus the prior year and $4,267 versus the prior month.

For the 2024-06-01 period, Medford had 751 MLS listings, a difference of 26 listings (4%) versus the prior month and 76 listings (11%) 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 1,909 sqft
Medford's median listing age (time on market) for 2024-06-01 was 54 days. This is 11% longer than the same period one year ago.

Medford's median square footage for active listings during the 2024-06-01 period was 1,909 sqft. One year prior, the average listing was 1,891 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).