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 55 lenders originated 372 FHA loans during 2024. The total origination value was $113,320,000, with an average FHA loan value of $304,624.

    Moses Lake FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Moses Lake averaged 0.21% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Moses Lake's average FHA mortgage closing costs are $9,989.

    The average rate for the prior week (2025-06-27) was 6.5% and one month ago for the week of 2025-05-30, the average rate was 6.87%.

    The average rate one year ago was 7.09%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.03%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 71 6.81% $14,039
    MOVEMENT MORTGAGE, LLC 48 6.70% $13,595
    UNITED WHOLESALE MORTGAGE, LLC 31 5.99% $16,256
    QUICKEN LOANS, LLC 29 6.11% $13,409
    CMG MORTGAGE, INC. 26 6.15% $16,960
    Glacier Bank 18 6.52% $12,549
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.93% $11,218
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 6 6.77% $14,412
    SUMMIT FUNDING, INC. 6 7.10% $10,081
    FREEDOM MORTGAGE CORPORATION 6 6.67% $14,358
    CHURCHILL MORTGAGE CORPORATION 5 7.08% $12,812
    1st Security Bank of Washington 5 5.73% $15,651
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.38% $13,702
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.21% $17,823
    Carrington Mortgage Services, LLC 3 6.33% $18,183
    CROSSCOUNTRY MORTGAGE, LLC 3 7.10% $13,716
    LOANDEPOT.COM, LLC 2 5.24% $14,345
    Paramount Residential Mortgage Group, Inc. 2 7.25% $14,981
    PENNYMAC LOAN SERVICES, LLC 2 5.75% $14,598
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 6.50% $11,630
    CORNERSTONE HOME LENDING, INC. 2 6.81% $15,931
    AMERISAVE MORTGAGE CORPORATION 2 5.69% $17,437
    AMERICAN FINANCING CORPORATION 2 5.50% $12,680
    CANOPY MORTGAGE, LLC 2 6.88% $15,927
    Washington Trust Bank 2 6.75% $7,336
    LOANPAL, LLC 1 5.63% $12,345
    Loan Simple, Inc. 1 6.25% $16,527
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $11,474
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.75% $22,072
    NBKC BANK 1 6.38% $10,834
    DIRECTORS MORTGAGE, INC. 1 6.63% $13,599
    NFM, INC. 1 6.13% $22,589
    NUMERICA CREDIT UNION 1 6.13% $13,808
    OCMBC, INC. 1 6.75% $10,580
    Plains Commerce Bank 1 7.50% $11,352
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.99% $19,579
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.88% $12,358
    S1L, Inc. 1 7.00% $11,424
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $9,068
    Sunflower Bank 1 5.99% $13,169
    T2 FINANCIAL LLC 1 6.25% $9,545
    The Loan Store, Inc. 1 6.13% $14,610
    TruHome Solutions, LLC 1 5.13% $14,167
    Alaska USA Federal Credit Union 1 6.75% $9,356
    U.S. Bank 1 7.00% $11,912
    VILLAGE CAPITAL MORTGAGE 1 6.75% $10,152
    NEWREZ LLC 1 6.25% $11,084
    ENVOY MORTGAGE, LTD 1 6.63% $9,724
    Cornerstone First Mortgage, Inc 1 5.63% $16,397
    City Lending Inc. 1 8.25% $19,192
    BROKER SOLUTIONS, INC. 1 6.75% $17,016
    INTELLILOAN, INC. 1 6.63% $6,241
    Ixonia Bank 1 6.63% $11,252
    Lakeview Community Capital, LLC 1 6.25% $10,104
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $7,164

    The top Moses Lake FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 71 FHA loans originated. Their average total fees are $14,039, which is $444 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Moses Lake FHA lenders (with over 10 loans originated) are Glacier Bank ($12,549), QUICKEN LOANS, LLC ($13,409), MOVEMENT MORTGAGE, LLC ($13,595), GUILD MORTGAGE COMPANY ($14,039) and UNITED WHOLESALE MORTGAGE, LLC ($16,256).

    The lowest rate Moses Lake FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.99%), QUICKEN LOANS, LLC (6.11%), CMG MORTGAGE, INC. (6.15%), Glacier Bank (6.52%) and MOVEMENT MORTGAGE, LLC (6.70%).

    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

    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).