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%.

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).