Napa FHA Loan Rates, Closing Costs & Stats

NAPA, 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.

    Napa's 29 lenders originated 126 FHA loans during 2022. The total origination value was $67,230,000, with an average FHA loan value of $533,571.

    Napa FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Napa averaged 6.12% for the week of 2023-09-22, compared to the national average (all FHA variants) of 7.036% for the same period.

    Napa's average FHA mortgage closing costs are $14,804.

    The average rate for the prior week (2023-09-15) was 6.37% and one month ago for the week of 2023-08-18, the average rate was 6.18%.

    The average rate one year ago was 5.06%.

    For refis of the same type during the week of 2023-09-22, the average rate was 5.43%.

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

    Napa 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 Napa level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 11 4.32% $20,587
    QUICKEN LOANS, LLC 8 3.58% $16,987
    HOMEBRIDGE FINANCIAL SERVICES, INC. 7 4.57% $26,992
    Flagstar Bank, FSB 6 5.06% $19,458
    CROSSCOUNTRY MORTGAGE, LLC 4 3.78% $21,695
    LOANDEPOT.COM, LLC 4 3.63% $18,760
    HOME POINT FINANCIAL CORPORATION 3 3.67% $15,798
    PENNYMAC LOAN SERVICES, LLC 3 3.46% $14,027
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 5.13% $28,036
    EVERETT FINANCIAL, INC. 3 5.79% $15,925
    CALIBER HOME LOANS, INC. 2 4.53% $18,362
    Mr. Cooper ( Nationstar Mortgage ) 2 3.06% $15,277
    FREEDOM MORTGAGE CORPORATION 2 2.94% $11,989
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.13% $28,407
    SUMMIT FUNDING, INC. 1 5.99% $35,535
    GUARANTEED RATE, INC. 1 6.13% $19,390
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.25% $24,803
    AMERIFIRST FINANCIAL CORPORATION 1 5.25% $33,720
    BAY EQUITY LLC 1 4.99% $18,205
    CARDINAL FINANCIAL 1 6.63% $14,856
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $14,715
    FINANCE OF AMERICA MORTGAGE LLC 1 4.99% $14,827
    First Guaranty Mortgage Corporation 1 3.38% $15,680
    AHL FUNDING 1 5.50% $20,459
    LADERA LENDING, INC. 1 6.00% $19,660
    MOUNTAIN WEST FINANCIAL, INC. 1 4.88% $22,405
    M&T Bank 1 2.75% $15,604
    NEWREZ LLC 1 3.50% $32,158
    Sierra Pacific Mortgage Company, Inc. 1 7.13% $13,639

    The top Napa FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 11 FHA loans originated. Their average total fees are $20,587, which is $3,599 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Napa FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($20,587), .

    The lowest rate Napa FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (4.32%), .

    Napa FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    NAPA, CA NAPA 2022 $897,000 $1,148,350 $1,388,050 $1,725,050
    NAPA, CA NAPA 2023 $1,017,750 $1,302,900 $1,574,900 $1,957,250

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Napa (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 $844,000 (-6.0%) $1,886,352 (5.7%) 0.00 200
    2018-02-01 $849,500 (-6.9%) $1,913,916 (5.4%) 0.00 191
    2018-03-01 $850,000 (-10.1%) $1,991,263 (3.0%) 0.00 236
    2018-04-01 $990,162 (10.6%) $2,127,186 (7.5%) 0.00 262
    2018-05-01 $999,975 (11.7%) $2,159,162 (10.8%) 0.00 320
    2018-06-01 $1,047,000 (18.6%) $2,174,341 (5.7%) 0.00 364
    2018-07-01 $975,000 (8.5%) $2,129,334 (2.7%) 0.00 387
    2018-08-01 $912,250 (0.0%) $2,076,468 (8.5%) 0.00 380
    2018-09-01 $925,000 (0.1%) $2,043,682 (1.9%) 0.00 409
    2018-10-01 $942,000 (6.4%) $2,121,273 (2.5%) 0.00 409
    2018-11-01 $915,375 (7.7%) $2,018,274 (-1.7%) 0.00 384
    2018-12-01 $895,000 (5.3%) $1,847,420 (-8.0%) 0.00 316
    2019-01-01 $857,000 (1.5%) $1,705,471 (-9.6%) 0.00 283
    2019-02-01 $849,713 (0.0%) $1,667,051 (-12.9%) 0.00 293
    2019-03-01 $883,186 (3.9%) $1,788,017 (-10.2%) 0.00 332
    2019-04-01 $944,750 (-4.6%) $2,109,283 (-0.8%) 0.00 363
    2019-05-01 $1,022,500 (2.3%) $2,216,608 (2.7%) 0.00 439
    2019-06-01 $998,250 (-4.7%) $2,239,144 (3.0%) 0.00 465
    2019-07-01 $970,000 (-0.5%) $2,169,653 (1.9%) 0.00 475
    2019-08-01 $949,000 (4.0%) $2,182,085 (5.1%) 0.00 475
    2019-09-01 $949,000 (2.6%) $2,208,080 (8.0%) 0.00 478
    2019-10-01 $949,000 (0.7%) $2,251,477 (6.1%) 0.00 477
    2019-11-01 $973,000 (6.3%) $2,406,471 (19.2%) 0.00 414
    2019-12-01 $948,944 (6.0%) $2,368,169 (28.2%) 0.00 312
    2020-01-01 $995,000 (16.1%) $2,287,673 (34.1%) 0.00 243
    2020-02-01 $995,000 (17.1%) $2,234,091 (34.0%) 0.00 284
    2020-03-01 $1,066,750 (20.8%) $2,279,116 (27.5%) 0.00 333
    2020-04-01 $987,000 (4.5%) $2,181,249 (3.4%) 0.00 301
    2020-05-01 $989,900 (-3.2%) $2,114,283 (-4.6%) 0.00 392
    2020-06-01 $1,091,250 (9.3%) $2,227,204 (-0.5%) 0.00 382
    2020-07-01 $1,153,750 (18.9%) $2,313,455 (6.6%) 0.00 376
    2020-08-01 $1,260,000 (32.8%) $2,409,199 (10.4%) 0.00 322
    2020-09-01 $1,296,000 (36.6%) $2,693,072 (22.0%) 0.00 310
    2020-10-01 $1,300,000 (37.0%) $2,620,806 (16.4%) 0.00 306
    2020-11-01 $1,323,500 (36.0%) $2,795,898 (16.2%) 0.00 298
    2020-12-01 $1,347,250 (42.0%) $2,771,920 (17.1%) 0.00 238
    2021-01-01 $1,295,000 (30.2%) $2,704,442 (18.2%) 0.00 218
    2021-02-01 $1,296,250 (30.3%) $2,912,672 (30.4%) 0.00 213
    2021-03-01 $1,359,750 (27.5%) $2,902,895 (27.4%) 0.00 220
    2021-04-01 $1,310,000 (32.7%) $2,956,612 (35.6%) 0.00 226
    2021-05-01 $1,395,000 (40.9%) $3,138,336 (48.4%) 0.00 239
    2021-06-01 $1,364,750 (25.1%) $3,105,959 (39.5%) 0.00 276
    2021-07-01 $1,295,000 (12.2%) $3,118,514 (34.8%) 0.00 282
    2021-08-01 $1,250,000 (-0.8%) $3,004,202 (24.7%) 0.00 274
    2021-09-01 $1,299,000 (0.2%) $3,022,437 (12.2%) 0.00 272
    2021-10-01 $1,250,000 (-3.9%) $2,973,927 (13.5%) 0.00 269
    2021-11-01 $1,342,000 (1.4%) $3,342,329 (19.5%) 0.00 207
    2021-12-01 $1,490,000 (10.6%) $3,434,267 (23.9%) 0.00 158
    2022-01-01 $1,499,500 (15.8%) $3,122,800 (15.5%) 0.00 129
    2022-02-01 $1,499,250 (15.7%) $3,124,545 (7.3%) 0.00 144
    2022-03-01 $1,695,500 (24.7%) $3,483,337 (20.0%) 0.00 168
    2022-04-01 $1,599,000 (22.1%) $3,420,415 (15.7%) 0.00 194
    2022-05-01 $1,642,000 (17.7%) $3,447,090 (9.8%) 0.00 215
    2022-06-01 $1,572,500 (15.2%) $3,540,751 (14.0%) 0.00 217
    2022-07-01 $1,489,500 (15.0%) $3,357,098 (7.7%) 0.00 246
    2022-08-01 $1,497,250 (19.8%) $3,399,639 (13.2%) 0.00 273
    2022-09-01 $1,382,500 (6.4%) $3,266,821 (8.1%) 0.00 285
    2022-10-01 $1,345,000 (7.6%) $3,277,188 (10.2%) 0.00 293
    2022-11-01 $1,395,000 (4.0%) $3,104,419 (-7.1%) 0.00 272
    2022-12-01 $1,341,525 (-10.0%) $2,946,809 (-14.2%) 0.00 213
    2023-01-01 $1,237,500 (-17.5%) $2,985,676 (-4.4%) 0.00 173
    2023-02-01 $1,396,500 (-6.9%) $3,016,870 (-3.5%) 0.00 182
    2023-03-01 $1,485,500 (-12.4%) $3,207,923 (-7.9%) 0.00 186
    2023-04-01 $1,650,000 (3.2%) $3,248,354 (-5.0%) 0.00 211
    2023-05-01 $1,781,750 (8.5%) $3,255,503 (-5.6%) 0.00 245
    2023-06-01 $1,697,500 (8.0%) $3,283,085 (-7.3%) 0.00 264
    2023-07-01 $1,697,000 (13.9%) $3,196,750 (-4.8%) 0.00 275
    2023-08-01 $1,650,000 (10.2%) $2,968,384 (-12.7%) 0.00 269
    Napa's median listing price for 2023-08-01 was $1,650,000, a difference of $152,750 (10.2%) versus the prior year and $-47,000 versus the prior month.

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

    Napa's average listing price for 2023-08-01 was $2,968,384, a difference of $-431,255 (-12.7%) versus the prior year and $-228,366 versus the prior month.

    For the 2023-08-01 period, Napa had 269 MLS listings, a difference of -6 listings (-2%) versus the prior month and -4 listings (-1%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Napa (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,933 sqft
    2018-02-01 0 days 1,886 sqft
    2018-03-01 0 days 1,946 sqft
    2018-04-01 0 days 2,058 sqft
    2018-05-01 0 days 2,060 sqft
    2018-06-01 0 days 2,104 sqft
    2018-07-01 0 days 2,034 sqft
    2018-08-01 0 days 2,016 sqft
    2018-09-01 0 days 2,044 sqft
    2018-10-01 0 days 2,065 sqft
    2018-11-01 0 days 1,967 sqft
    2018-12-01 0 days 1,949 sqft
    2019-01-01 0 days 1,897 sqft
    2019-02-01 0 days 1,901 sqft
    2019-03-01 0 days 1,970 sqft
    2019-04-01 0 days 2,095 sqft
    2019-05-01 0 days 2,126 sqft
    2019-06-01 0 days 2,116 sqft
    2019-07-01 0 days 2,016 sqft
    2019-08-01 0 days 1,990 sqft
    2019-09-01 0 days 1,977 sqft
    2019-10-01 0 days 1,962 sqft
    2019-11-01 0 days 2,024 sqft
    2019-12-01 0 days 2,034 sqft
    2020-01-01 0 days 2,088 sqft
    2020-02-01 0 days 2,054 sqft
    2020-03-01 0 days 2,074 sqft
    2020-04-01 0 days 2,047 sqft
    2020-05-01 0 days 2,000 sqft
    2020-06-01 0 days 2,088 sqft
    2020-07-01 0 days 2,115 sqft
    2020-08-01 0 days 2,159 sqft
    2020-09-01 0 days 2,168 sqft
    2020-10-01 0 days 2,138 sqft
    2020-11-01 0 days 2,176 sqft
    2020-12-01 0 days 2,073 sqft
    2021-01-01 0 days 2,112 sqft
    2021-02-01 0 days 2,018 sqft
    2021-03-01 0 days 2,114 sqft
    2021-04-01 0 days 2,131 sqft
    2021-05-01 0 days 2,042 sqft
    2021-06-01 0 days 2,039 sqft
    2021-07-01 0 days 2,010 sqft
    2021-08-01 0 days 2,099 sqft
    2021-09-01 0 days 2,146 sqft
    2021-10-01 0 days 2,036 sqft
    2021-11-01 0 days 2,126 sqft
    2021-12-01 0 days 2,085 sqft
    2022-01-01 0 days 2,055 sqft
    2022-02-01 0 days 2,112 sqft
    2022-03-01 0 days 2,224 sqft
    2022-04-01 0 days 2,166 sqft
    2022-05-01 0 days 2,141 sqft
    2022-06-01 0 days 2,099 sqft
    2022-07-01 0 days 2,068 sqft
    2022-08-01 0 days 2,137 sqft
    2022-09-01 0 days 2,080 sqft
    2022-10-01 0 days 2,034 sqft
    2022-11-01 0 days 2,094 sqft
    2022-12-01 0 days 2,067 sqft
    2023-01-01 0 days 2,071 sqft
    2023-02-01 0 days 2,117 sqft
    2023-03-01 0 days 2,190 sqft
    2023-04-01 0 days 2,276 sqft
    2023-05-01 0 days 2,371 sqft
    2023-06-01 0 days 2,345 sqft
    2023-07-01 0 days 2,354 sqft
    2023-08-01 0 days 2,310 sqft
    Napa's median listing age (time on market) for 2023-08-01 was 0 days.

    Napa's median square footage for active listings during the 2023-08-01 period was 2,310 sqft. One year prior, the average listing was 2,137 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).