Moses Lake FHA Loan Rates, Closing Costs & Stats

Moses Lake, WA

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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.

    Moses Lake's 56 lenders originated 292 FHA loans during 2023. The total origination value was $86,940,000, with an average FHA loan value of $297,740.

    Moses Lake FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Moses Lake averaged 6.43% for the week of 2025-03-21, compared to the national average (all FHA variants) of 6.335% for the same period.

    Moses Lake's average FHA mortgage closing costs are $9,357.

    The average rate for the prior week (2025-03-14) was 6.25% and one month ago for the week of 2025-02-14, the average rate was 6.81%.

    The average rate one year ago was 6.61%.

    For refis of the same type during the week of 2025-03-21, the average rate was 6.54%.

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

    Moses Lake 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 Moses Lake level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 46 6.90% $15,016
    MOVEMENT MORTGAGE, LLC 33 6.81% $14,026
    QUICKEN LOANS, LLC 27 6.41% $11,728
    UNITED WHOLESALE MORTGAGE, LLC 17 6.21% $13,662
    CMG MORTGAGE, INC. 13 6.08% $15,823
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 11 6.66% $14,780
    Wheatland Bank 10 6.41% $13,598
    CARDINAL FINANCIAL 9 6.42% $15,958
    CHURCHILL MORTGAGE CORPORATION 8 6.64% $13,487
    AMERICAN PACIFIC MORTGAGE CORPORATION 6 6.94% $15,396
    SUMMIT FUNDING, INC. 5 7.30% $13,038
    Alaska USA Federal Credit Union 4 6.44% $11,355
    MEMBER FIRST MORTGAGE, LLC 3 6.46% $6,377
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.00% $10,079
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.67% $18,202
    PLANET HOME LENDING, LLC 3 6.41% $16,480
    ZILLOW HOME LOANS, LLC 2 5.75% $16,263
    American Mortgage & Equity Consultants, Inc. 2 6.50% $15,869
    AMERISAVE MORTGAGE CORPORATION 2 6.63% $14,427
    Century Mortgage Company DBA Century Lending Company 2 6.44% $10,263
    CROSSCOUNTRY MORTGAGE, LLC 2 7.31% $11,218
    ENVOY MORTGAGE, LTD 2 7.00% $12,205
    FREEDOM MORTGAGE CORPORATION 2 7.25% $11,689
    GUARANTEED RATE, INC. 2 5.96% $12,576
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 5.88% $14,851
    HORIZON 2 6.50% $10,983
    JPMorgan Chase Bank 2 5.75% $6,405
    Paramount Residential Mortgage Group, Inc. 2 6.25% $11,453
    PENNYMAC LOAN SERVICES, LLC 2 5.94% $13,420
    Sunflower Bank 2 6.75% $8,631
    Washington Trust Bank 2 7.75% $4,023
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $15,749
    LOANDEPOT.COM, LLC 1 6.99% $13,538
    Loan Simple, Inc. 1 7.63% $15,297
    MANN FINANCIAL INC. 1 8.00% $11,878
    CORNERSTONE HOME LENDING, INC. 1 7.25% $15,710
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 8.13% $14,465
    NEWREZ LLC 1 6.25% $16,399
    NFM, INC. 1 7.63% $13,518
    Northpointe Bank 1 6.63% $12,882
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.75% $10,122
    Wells Fargo Bank 1 6.88% $15,248
    ACADEMY MORTGAGE CORPORATION 1 6.63% $13,486
    CANOPY MORTGAGE, LLC 1 7.13% $11,594
    Boeing Employees Credit Union 1 6.75% $7,270
    Prosperity Home Mortgage, LLC 1 5.99% $17,308
    Banner Bank 1 6.13% $9,552
    EVERETT FINANCIAL, INC. 1 6.13% $17,155
    Bank of America 1 6.25% $10,923
    Willamette Valley Bank 1 6.75% $10,873
    DAS Acquisition Company, LLC 1 7.63% $15,371
    AMERICAN FINANCING CORPORATION 1 6.25% $13,864
    HOMESIDE FINANCIAL, LLC 1 5.88% $25,150
    VILLAGE CAPITAL MORTGAGE 1 7.13% $12,871
    1st Security Bank of Washington 1 6.63% $12,542
    KeyBank 1 5.88% $11,228

    The top Moses Lake FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 46 FHA loans originated. Their average total fees are $15,016, which is $990 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Moses Lake FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($11,728), Wheatland Bank ($13,598), UNITED WHOLESALE MORTGAGE, LLC ($13,662), MOVEMENT MORTGAGE, LLC ($14,026) and EVERGREEN MONEYSOURCE MORTGAGE COMPANY ($14,780).

    The lowest rate Moses Lake FHA lenders (with over 10 loans originated) are CMG MORTGAGE, INC. (6.08%), UNITED WHOLESALE MORTGAGE, LLC (6.21%), Wheatland Bank (6.41%), QUICKEN LOANS, LLC (6.41%) and EVERGREEN MONEYSOURCE MORTGAGE COMPANY (6.66%).

    Moses Lake FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    MOSES LAKE, WA GRANT 2022 $420,680 $538,650 $651,050 $809,150
    MOSES LAKE, WA GRANT 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Moses Lake (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 $229,000 (5.2%) $294,699 (18.0%) 0.00 214
    2018-02-01 $238,700 (9.5%) $306,311 (21.8%) 0.00 204
    2018-03-01 $244,750 (9.2%) $312,761 (18.9%) 0.00 185
    2018-04-01 $251,625 (7.1%) $312,787 (10.4%) 0.00 203
    2018-05-01 $245,750 (2.8%) $312,124 (8.0%) 0.00 216
    2018-06-01 $259,000 (6.1%) $307,067 (4.7%) 0.00 234
    2018-07-01 $254,950 (5.9%) $308,278 (7.1%) 0.00 264
    2018-08-01 $259,450 (6.4%) $336,854 (14.7%) 0.00 278
    2018-09-01 $249,250 (3.2%) $332,645 (12.0%) 0.00 297
    2018-10-01 $249,450 (4.4%) $326,672 (8.9%) 0.00 291
    2018-11-01 $239,900 (3.0%) $319,183 (9.9%) 0.00 257
    2018-12-01 $239,000 (3.5%) $311,687 (5.9%) 0.00 248
    2019-01-01 $242,198 (5.8%) $324,053 (10.0%) 0.00 198
    2019-02-01 $250,315 (4.9%) $335,353 (9.5%) 0.00 204
    2019-03-01 $267,257 (9.2%) $350,554 (12.1%) 0.00 206
    2019-04-01 $282,782 (12.4%) $364,837 (16.6%) 0.00 217
    2019-05-01 $285,982 (16.4%) $362,057 (16.0%) 0.00 259
    2019-06-01 $286,470 (10.6%) $357,695 (16.5%) 0.00 255
    2019-07-01 $299,700 (17.6%) $377,117 (22.3%) 0.00 233
    2019-08-01 $296,336 (14.2%) $371,444 (10.3%) 0.00 247
    2019-09-01 $292,716 (17.4%) $360,235 (8.3%) 0.00 269
    2019-10-01 $292,802 (17.4%) $356,810 (9.2%) 0.00 278
    2019-11-01 $294,470 (22.8%) $362,141 (13.5%) 0.00 233
    2019-12-01 $290,070 (21.4%) $362,617 (16.3%) 0.00 206
    2020-01-01 $274,625 (13.4%) $324,633 (0.2%) 0.00 201
    2020-02-01 $280,000 (11.9%) $317,689 (-5.3%) 0.00 210
    2020-03-01 $281,500 (5.3%) $318,827 (-9.1%) 0.00 240
    2020-04-01 $288,258 (1.9%) $320,897 (-12.0%) 0.00 223
    2020-05-01 $279,950 (-2.1%) $315,497 (-12.9%) 0.00 233
    2020-06-01 $281,350 (-1.8%) $321,662 (-10.1%) 0.00 218
    2020-07-01 $276,200 (-7.8%) $323,894 (-14.1%) 0.00 214
    2020-08-01 $269,900 (-8.9%) $313,029 (-15.7%) 0.00 217
    2020-09-01 $279,625 (-4.5%) $331,816 (-7.9%) 0.00 212
    2020-10-01 $274,900 (-6.1%) $329,122 (-7.8%) 0.00 218
    2020-11-01 $298,475 (1.4%) $343,859 (-5.1%) 0.00 129
    2020-12-01 $285,000 (-1.8%) $339,971 (-6.3%) 0.00 114
    2021-01-01 $279,900 (1.9%) $338,631 (4.3%) 0.00 96
    2021-02-01 $297,500 (6.3%) $352,667 (11.0%) 0.00 82
    2021-03-01 $312,725 (11.1%) $362,703 (13.8%) 0.00 96
    2021-04-01 $319,250 (10.8%) $388,868 (21.2%) 0.00 74
    2021-05-01 $302,250 (8.0%) $373,722 (18.5%) 0.00 84
    2021-06-01 $321,475 (14.3%) $431,350 (34.1%) 0.00 102
    2021-07-01 $333,993 (20.9%) $438,116 (35.3%) 0.00 123
    2021-08-01 $329,492 (22.1%) $426,388 (36.2%) 0.00 140
    2021-09-01 $337,675 (20.8%) $437,974 (32.0%) 0.00 132
    2021-10-01 $365,000 (32.8%) $458,116 (39.2%) 0.00 133
    2021-11-01 $367,232 (23.0%) $468,371 (36.2%) 0.00 134
    2021-12-01 $368,250 (29.2%) $449,209 (32.1%) 0.00 125
    2022-01-01 $358,750 (28.2%) $459,298 (35.6%) 0.00 108
    2022-02-01 $356,706 (19.9%) $409,608 (16.2%) 0.00 103
    2022-03-01 $383,000 (22.5%) $430,800 (18.8%) 0.00 91
    2022-04-01 $387,000 (21.2%) $497,658 (28.0%) 0.00 82
    2022-05-01 $384,950 (27.4%) $482,106 (29.0%) 0.00 104
    2022-06-01 $381,500 (18.7%) $471,163 (9.2%) 0.00 141
    2022-07-01 $391,200 (17.1%) $483,300 (10.3%) 0.00 158
    2022-08-01 $387,500 (17.6%) $486,110 (14.0%) 0.00 164
    2022-09-01 $395,975 (17.3%) $479,967 (9.6%) 0.00 160
    2022-10-01 $390,000 (6.9%) $491,688 (7.3%) 0.00 178
    2022-11-01 $387,000 (5.4%) $487,176 (4.0%) 0.00 188
    2022-12-01 $389,500 (5.8%) $494,091 (10.0%) 0.00 160
    2023-01-01 $382,975 (6.8%) $480,266 (4.6%) 0.00 154
    2023-02-01 $356,040 (-0.2%) $436,901 (6.7%) 0.00 164
    2023-03-01 $372,816 (-2.7%) $460,285 (6.8%) 0.00 160
    2023-04-01 $381,381 (-1.5%) $462,687 (-7.0%) 0.00 169
    2023-05-01 $399,945 (3.9%) $488,784 (1.4%) 0.00 197
    2023-06-01 $399,995 (4.9%) $500,573 (6.2%) 0.00 203
    2023-07-01 $399,990 (2.3%) $511,354 (5.8%) 0.00 222
    2023-08-01 $412,228 (6.4%) $516,048 (6.2%) 0.00 231
    2023-09-01 $392,495 (-0.9%) $516,484 (7.6%) 0.00 215
    2023-10-01 $391,654 (0.4%) $508,100 (3.3%) 0.00 207
    2023-11-01 $412,425 (6.6%) $498,272 (2.3%) 0.00 217
    2023-12-01 $409,450 (5.1%) $489,410 (-1.0%) 0.00 195
    2024-01-01 $397,975 (3.9%) $465,348 (-3.1%) 0.00 175
    2024-02-01 $404,661 (13.7%) $469,744 (7.5%) 0.00 184
    2024-03-01 $400,000 (7.3%) $481,296 (4.6%) 0.00 185
    2024-04-01 $406,472 (6.6%) $506,350 (9.4%) 0.00 217
    2024-05-01 $417,500 (4.4%) $505,316 (3.4%) 0.00 251
    2024-06-01 $464,900 (16.2%) $528,433 (5.6%) 0.00 252
    2024-07-01 $461,900 (15.5%) $537,883 (5.2%) 0.00 283
    2024-08-01 $444,375 (7.8%) $513,278 (-0.5%) 0.00 322
    2024-09-01 $446,713 (13.8%) $507,601 (-1.7%) 0.00 330
    2024-10-01 $441,675 (12.8%) $506,547 (-0.3%) 0.00 333
    2024-11-01 $425,000 (3.1%) $496,623 (-0.3%) 0.00 331
    2024-12-01 $419,257 (2.4%) $486,771 (-0.5%) 0.00 304
    2025-01-01 $407,138 (2.3%) $479,360 (3.0%) 0.00 286
    2025-02-01 $409,500 (1.2%) $476,385 (1.4%) 0.00 289
    Moses Lake's median listing price for 2025-02-01 was $409,500, a difference of $4,839 (1.2%) versus the prior year and $2,362 versus the prior month.

    Moses Lake's median listing price comes in at 0% of the national average.

    Moses Lake's average listing price for 2025-02-01 was $476,385, a difference of $6,641 (1.4%) versus the prior year and $-2,975 versus the prior month.

    For the 2025-02-01 period, Moses Lake had 289 MLS listings, a difference of 3 listings (1%) versus the prior month and 105 listings (57%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Moses Lake (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,805 sqft
    2018-02-01 0 days 1,824 sqft
    2018-03-01 0 days 1,890 sqft
    2018-04-01 0 days 1,862 sqft
    2018-05-01 0 days 1,828 sqft
    2018-06-01 0 days 1,822 sqft
    2018-07-01 0 days 1,783 sqft
    2018-08-01 0 days 1,819 sqft
    2018-09-01 0 days 1,805 sqft
    2018-10-01 0 days 1,813 sqft
    2018-11-01 0 days 1,785 sqft
    2018-12-01 0 days 1,784 sqft
    2019-01-01 0 days 1,807 sqft
    2019-02-01 0 days 1,798 sqft
    2019-03-01 0 days 1,804 sqft
    2019-04-01 0 days 1,813 sqft
    2019-05-01 0 days 1,788 sqft
    2019-06-01 0 days 1,792 sqft
    2019-07-01 0 days 1,846 sqft
    2019-08-01 0 days 1,856 sqft
    2019-09-01 0 days 1,857 sqft
    2019-10-01 0 days 1,858 sqft
    2019-11-01 0 days 1,918 sqft
    2019-12-01 0 days 1,854 sqft
    2020-01-01 0 days 1,788 sqft
    2020-02-01 0 days 1,744 sqft
    2020-03-01 0 days 1,656 sqft
    2020-04-01 0 days 1,674 sqft
    2020-05-01 0 days 1,660 sqft
    2020-06-01 0 days 1,656 sqft
    2020-07-01 0 days 1,669 sqft
    2020-08-01 0 days 1,599 sqft
    2020-09-01 0 days 1,621 sqft
    2020-10-01 0 days 1,623 sqft
    2020-11-01 0 days 1,691 sqft
    2020-12-01 0 days 1,665 sqft
    2021-01-01 0 days 1,578 sqft
    2021-02-01 0 days 1,568 sqft
    2021-03-01 0 days 1,581 sqft
    2021-04-01 0 days 1,596 sqft
    2021-05-01 0 days 1,588 sqft
    2021-06-01 0 days 1,656 sqft
    2021-07-01 0 days 1,728 sqft
    2021-08-01 0 days 1,694 sqft
    2021-09-01 0 days 1,707 sqft
    2021-10-01 0 days 1,798 sqft
    2021-11-01 0 days 1,793 sqft
    2021-12-01 0 days 1,778 sqft
    2022-01-01 0 days 1,795 sqft
    2022-02-01 0 days 1,738 sqft
    2022-03-01 0 days 1,745 sqft
    2022-04-01 0 days 1,797 sqft
    2022-05-01 0 days 1,764 sqft
    2022-06-01 0 days 1,707 sqft
    2022-07-01 0 days 1,682 sqft
    2022-08-01 0 days 1,691 sqft
    2022-09-01 0 days 1,766 sqft
    2022-10-01 0 days 1,752 sqft
    2022-11-01 0 days 1,726 sqft
    2022-12-01 0 days 1,685 sqft
    2023-01-01 0 days 1,614 sqft
    2023-02-01 0 days 1,549 sqft
    2023-03-01 0 days 1,559 sqft
    2023-04-01 0 days 1,603 sqft
    2023-05-01 0 days 1,645 sqft
    2023-06-01 0 days 1,717 sqft
    2023-07-01 0 days 1,742 sqft
    2023-08-01 0 days 1,736 sqft
    2023-09-01 0 days 1,683 sqft
    2023-10-01 0 days 1,712 sqft
    2023-11-01 0 days 1,743 sqft
    2023-12-01 0 days 1,741 sqft
    2024-01-01 0 days 1,696 sqft
    2024-02-01 0 days 1,739 sqft
    2024-03-01 0 days 1,724 sqft
    2024-04-01 0 days 1,744 sqft
    2024-05-01 0 days 1,747 sqft
    2024-06-01 0 days 1,785 sqft
    2024-07-01 0 days 1,802 sqft
    2024-08-01 0 days 1,755 sqft
    2024-09-01 0 days 1,791 sqft
    2024-10-01 0 days 1,787 sqft
    2024-11-01 0 days 1,746 sqft
    2024-12-01 0 days 1,674 sqft
    2025-01-01 0 days 1,644 sqft
    2025-02-01 0 days 1,651 sqft
    Moses Lake's median listing age (time on market) for 2025-02-01 was 0 days.

    Moses Lake's median square footage for active listings during the 2025-02-01 period was 1,651 sqft. One year prior, the average listing was 1,739 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).