Modesto FHA Loan Rates, Closing Costs & Stats

MODESTO, CA

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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.

    Modesto's 108 lenders originated 1,513 FHA loans during 2024. The total origination value was $617,245,000, with an average FHA loan value of $407,961.

    Modesto FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Modesto averaged -0.14% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Modesto's average FHA mortgage closing costs are $11,174.

    The average rate for the prior week (2025-06-13) was 6.74% and one month ago for the week of 2025-05-16, the average rate was 6.5%.

    The average rate one year ago was 6.76%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.37%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Modesto 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 Modesto level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 255 6.05% $15,964
    QUICKEN LOANS, LLC 99 6.18% $15,466
    CROSSCOUNTRY MORTGAGE, LLC 77 6.41% $15,549
    Century Mortgage Company DBA Century Lending Company 75 6.28% $14,472
    LOANDEPOT.COM, LLC 56 5.98% $15,590
    GUARANTEED RATE, INC. 55 6.26% $14,995
    DHI MORTGAGE COMPANY, LTD. 50 5.55% $12,633
    AMERICAN PACIFIC MORTGAGE CORPORATION 48 6.34% $17,097
    GUILD MORTGAGE COMPANY 42 6.23% $19,355
    Paramount Residential Mortgage Group, Inc. 40 6.15% $16,008
    Performance Financial, Inc. 39 6.12% $15,746
    S1L, Inc. 36 6.30% $18,408
    SCENIC OAKS FUNDING, INC. 32 6.45% $18,402
    FREEDOM MORTGAGE CORPORATION 29 6.23% $16,131
    KBHS HOME LOANS, LLC 21 5.61% $21,705
    Sierra Pacific Mortgage Company, Inc. 17 6.34% $18,422
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 17 5.14% $18,726
    NFM, INC. 16 5.62% $17,254
    OCMBC, INC. 16 6.46% $15,509
    PENNYMAC LOAN SERVICES, LLC 16 5.73% $14,616
    AMERICAN FINANCIAL NETWORK, INC. 16 6.66% $17,922
    ALAMEDA MORTGAGE CORPORATION 14 6.54% $11,076
    Golden Empire Mortgage, Inc. 12 6.81% $17,947
    LAND HOME FINANCIAL SERVICES, INC. 12 6.53% $17,068
    Equity Prime Mortgage LLC 11 6.60% $16,148
    Mr. Cooper ( Nationstar Mortgage ) 11 6.25% $19,947
    BROKER SOLUTIONS, INC. 10 6.74% $14,751
    DIRECTIONS EQUITY, LLC 10 6.36% $15,608
    EAGLE HOME MORTGAGE, LLC 9 4.93% $14,462
    U.S. Bank 9 6.13% $17,852
    LEADERONE FINANCIAL CORPORATION 9 6.35% $16,866
    CARDINAL FINANCIAL 8 6.52% $17,947
    PRIMARY RESIDENTIAL MORTGAGE, INC. 8 6.55% $9,326
    NEWREZ LLC 8 6.19% $12,739
    Franklin Loan Corporation 8 6.11% $14,618
    SUN WEST MORTGAGE COMPANY, INC. 7 6.39% $18,019
    JMAC LENDING, INC. 7 5.88% $16,170
    Carrington Mortgage Services, LLC 6 6.60% $14,492
    HOMEBRIDGE FINANCIAL SERVICES, INC. 6 6.33% $10,421
    JPMorgan Chase Bank 6 6.33% $8,784
    PLANET HOME LENDING, LLC 5 5.48% $8,140
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.95% $14,749
    LAKEVIEW LOAN SERVICING, LLC 5 6.20% $11,872
    MASON MCDUFFIE MORTGAGE CORPORATION 5 6.47% $16,559
    VILLAGE CAPITAL MORTGAGE 5 6.05% $8,610
    Plains Commerce Bank 4 6.56% $20,424
    The Loan Store, Inc. 4 6.41% $10,728
    HOMEOWNERS FINANCIAL GROUP USA, LLC 4 6.47% $20,241
    Lakeview Community Capital, LLC 4 6.41% $7,903
    EVERETT FINANCIAL, INC. 4 6.56% $14,343
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.72% $18,054
    Hometown Equity Mortgage, LLC 4 5.84% $15,380
    THE GOLDEN 1 3 6.04% $12,737
    RESIDENTIAL BANCORP 3 6.71% $14,084
    Commerce Home Mortgage, Inc. 3 6.13% $12,760
    Flagstar Bank, FSB 3 6.00% $14,697
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.04% $15,997
    SUMMIT FUNDING, INC. 3 6.08% $19,397
    CALCON MUTUAL MORTGAGE LLC 3 6.21% $18,314
    PACIFIC RESIDENTIAL MORTGAGE, LLC 3 6.00% $13,605
    PLAZA HOME MORTGAGE, INC. 3 6.71% $18,334
    PREMIER MORTGAGE RESOURCES, L.L.C. 3 6.63% $15,413
    NATIONS DIRECT MORTGAGE, LLC 3 6.21% $13,610
    Cornerstone First Mortgage, Inc 3 6.50% $19,971
    LADERA LENDING, INC. 2 6.25% $12,179
    ALLIED MORTGAGE GROUP, INC. 2 6.06% $15,795
    AMERICAN FINANCING CORPORATION 2 5.81% $15,268
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 5.50% $17,139
    AmeriHome Mortgage Company, LLC 2 5.88% $12,918
    AMERISAVE MORTGAGE CORPORATION 2 6.31% $24,062
    Bank of America 2 6.13% $14,586
    BAY-VALLEY MORTGAGE GROUP 2 6.25% $14,728
    BMO Harris Bank 2 6.44% $11,865
    CHURCHILL MORTGAGE CORPORATION 2 6.19% $20,378
    CMG MORTGAGE, INC. 2 6.56% $19,535
    ENVOY MORTGAGE, LTD 2 6.00% $13,058
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.38% $13,245
    INTELLILOAN, INC. 2 6.06% $13,402
    Keystone Funding, Inc. 2 5.94% $14,602
    LOANPAL, LLC 2 5.00% $19,099
    MORTGAGEONE, INC. 2 6.63% $16,351
    NMSI, INC. 2 6.31% $11,535
    SNAPFI, INC. 2 6.56% $17,264
    TOP FLITE FINANCIAL, INC. 2 6.75% $20,918
    UNION HOME MORTGAGE CORP. 2 6.81% $16,328
    Northpointe Bank 1 6.00% $23,822
    North American Savings Bank, F.S.B. 1 6.13% $6,894
    NETWORK CAPITAL FUNDING CORPORATION 1 6.00% $22,312
    Nations Lending Corporation 1 6.63% $8,892
    ML Mortgage Corp. 1 6.75% $20,237
    Loan Simple, Inc. 1 5.63% $17,878
    AHL FUNDING 1 6.50% $21,202
    Home Mortgage Alliance Corp 1 6.63% $9,293
    AXIA FINANCIAL, LLC 1 7.25% $11,695
    GENEVA FINANCIAL, LLC 1 7.13% $25,977
    EMM LOANS LLC 1 5.25% $14,865
    DAS Acquisition Company, LLC 1 6.63% $14,372
    BOKF 1 7.13% $17,822
    VISION ONE MORTGAGE, INC. 1 6.38% $16,591
    TRAVIS CREDIT UNION 1 6.60% $10,632
    TruHome Solutions, LLC 1 5.63% $11,883
    Umpqua Bank 1 6.75% $12,040
    Wells Fargo Bank 1 6.75% $11,166
    BETTER MORTGAGE CORPORATION 1 6.00% $9,152
    BAY EQUITY LLC 1 5.75% $16,931
    Paramount Bank 1 6.13% $13,750
    ON Q FINANCIAL, INC. 1 5.75% $16,144
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $15,413

    The top Modesto FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 255 FHA loans originated. Their average total fees are $15,964, which is $498 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Modesto FHA lenders (with over 10 loans originated) are ALAMEDA MORTGAGE CORPORATION ($11,076), DHI MORTGAGE COMPANY, LTD. ($12,633), Century Mortgage Company DBA Century Lending Company ($14,472), PENNYMAC LOAN SERVICES, LLC ($14,616) and BROKER SOLUTIONS, INC. ($14,751).

    The lowest rate Modesto FHA lenders (with over 10 loans originated) are K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. (5.14%), DHI MORTGAGE COMPANY, LTD. (5.55%), KBHS HOME LOANS, LLC (5.61%), NFM, INC. (5.62%) and PENNYMAC LOAN SERVICES, LLC (5.73%).

    Modesto FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    MODESTO, CA STANISLAUS 2022 $460,000 $588,850 $711,800 $884,600
    MODESTO, CA STANISLAUS 2023 $517,500 $662,500 $800,800 $995,200

    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).