Napa FHA Loans

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 57 lenders originated 252 FHA loans during 2021. The total origination value was $121,410,000, with an average FHA loan value of $481,786.

    Napa FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Napa averaged 5.11% 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 5.24% and one month ago for the week of 2022-04-08, the average rate was 4.91%.

    The average rate one year ago was 3.12%.

    For refis of the same type during the week of 2022-05-13, the average rate was 4.85%.

    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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Napa level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 21 2.66% $10,984
    LAKEVIEW LOAN SERVICING, LLC 11 2.66% $8,840
    CROSSCOUNTRY MORTGAGE, LLC 11 2.93% $18,629
    HOMEBRIDGE FINANCIAL SERVICES, INC. 11 2.95% $14,732
    Flagstar Bank, FSB 10 2.85% $16,434
    UNITED WHOLESALE MORTGAGE, LLC 7 2.73% $15,168
    PRIMARY RESIDENTIAL MORTGAGE, INC. 6 3.33% $19,485
    CALIBER HOME LOANS, INC. 6 2.62% $11,096
    LOANDEPOT.COM, LLC 5 2.95% $13,899
    Mr. Cooper ( Nationstar Mortgage ) 5 2.75% $7,747
    FREEDOM MORTGAGE CORPORATION 5 2.58% $9,612
    PENNYMAC LOAN SERVICES, LLC 4 2.75% $12,939
    Lakeview Community Capital, LLC 4 2.69% $9,043
    NEWREZ LLC 3 2.67% $8,343
    AMERICAN FINANCIAL NETWORK, INC. 3 2.83% $19,647
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 3.13% $18,671
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 2.91% $20,086
    Carrington Mortgage Services, LLC 3 3.21% $13,362
    Commerce Home Mortgage, Inc. 3 3.38% $15,626
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 2.91% $19,720
    HOME POINT FINANCIAL CORPORATION 3 2.75% $11,710
    ALAMEDA MORTGAGE CORPORATION 3 3.13% $16,805
    Paramount Residential Mortgage Group, Inc. 2 2.88% $9,001
    CMG MORTGAGE, INC. 2 3.31% $26,850
    NATIONWIDE MORTGAGE BANKERS, INC. 2 3.25% $18,374
    SUMMIT FUNDING, INC. 2 3.00% $20,721
    VILLAGE CAPITAL & INVESTMENT LLC 2 3.00% $9,904
    TRAVIS CREDIT UNION 2 2.94% $12,441
    LAND HOME FINANCIAL SERVICES, INC. 2 2.69% $10,258
    Golden Empire Mortgage, Inc. 2 2.69% $25,254
    INSPIRE HOME LOANS INC. 1 2.50% $16,669
    CHURCHILL MORTGAGE CORPORATION 1 3.13% $11,603
    CELEBRITY HOME LOANS, LLC 1 3.13% $21,087
    LOANLEADERS OF AMERICA, INC. 1 3.25% $18,852
    LOANPAL, LLC 1 2.25% $11,785
    MID AMERICA MORTGAGE, INC. 1 3.13% $6,571
    MOVEMENT MORTGAGE, LLC 1 2.88% $18,151
    BROKER SOLUTIONS, INC. 1 3.75% $12,689
    NATIONS DIRECT MORTGAGE, LLC 1 2.50% $18,775
    PANORAMA MORTGAGE GROUP, LLC 1 5.00% $17,019
    BAY EQUITY LLC 1 2.50% $14,784
    PLANET HOME LENDING, LLC 1 3.75% $16,459
    PREMIER LENDING, INC. 1 2.75% $21,626
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.75% $22,046
    AMERISAVE MORTGAGE CORPORATION 1 2.88% $30,782
    South Pacific Financial Corporation 1 2.75% $12,600
    STEARNS LENDING, LLC 1 2.63% $11,102
    SUN WEST MORTGAGE COMPANY, INC. 1 2.75% $7,048
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 4.13% $19,591
    EVERETT FINANCIAL, INC. 1 2.88% $8,134
    GUARANTEED RATE, INC. 1 3.25% $20,228
    GUILD MORTGAGE COMPANY 1 2.50% $11,204
    DRAPER AND KRAMER MORTGAGE CORP. 1 2.99% $14,327
    HOME FUNDING CORPORATION 1 3.00% $17,181
    Home Mortgage Alliance Corp 1 3.13% $10,120
    AMCAP MORTGAGE, LTD. 1 3.25% $24,855
    Hometown Equity Mortgage, LLC 1 3.13% $25,577

    The top Napa FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 21 FHA loans originated. Their average total fees are $10,984, which is $2,144 higher than the next largest lender, LAKEVIEW LOAN SERVICING, LLC.

    The lowest fee Napa FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($8,840), QUICKEN LOANS, LLC ($10,984), HOMEBRIDGE FINANCIAL SERVICES, INC. ($14,732), Flagstar Bank, FSB ($16,434) and CROSSCOUNTRY MORTGAGE, LLC ($18,629).

    The lowest rate Napa FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC (2.66%), QUICKEN LOANS, LLC (2.66%), Flagstar Bank, FSB (2.85%), CROSSCOUNTRY MORTGAGE, LLC (2.93%) and HOMEBRIDGE FINANCIAL SERVICES, INC. (2.95%).

    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

    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 $850,000 (-5.0%) $1,884,040 (-1.4%) 0.00 211
    2018-02-01 $844,000 (-6.1%) $1,856,200 (-1.3%) 0.00 201
    2018-03-01 $849,000 (-10.5%) $1,959,286 (-1.0%) 0.00 246
    2018-04-01 $980,000 (10.1%) $2,119,243 (10.5%) 0.00 270
    2018-05-01 $1,012,823 (16.1%) $2,103,374 (15.9%) 0.00 327
    2018-06-01 $1,025,000 (19.3%) $2,116,860 (14.3%) 0.00 374
    2018-07-01 $962,450 (8.1%) $2,060,001 (10.7%) 0.00 403
    2018-08-01 $912,000 (-0.6%) $2,015,713 (0.4%) 0.00 396
    2018-09-01 $925,000 (0.0%) $1,989,215 (-0.7%) 0.00 423
    2018-10-01 $934,500 (5.4%) $2,035,530 (-2.8%) 0.00 426
    2018-11-01 $917,000 (7.9%) $1,998,352 (-4.2%) 0.00 401
    2018-12-01 $895,000 (5.3%) $1,836,634 (-8.6%) 0.00 327
    2019-01-01 $857,000 (0.8%) $1,685,519 (-10.5%) 0.00 293
    2019-02-01 $849,950 (0.7%) $1,647,489 (-11.2%) 0.00 306
    2019-03-01 $879,114 (3.6%) $1,746,748 (-10.9%) 0.00 340
    2019-04-01 $931,500 (-5.0%) $2,011,802 (-5.1%) 0.00 368
    2019-05-01 $997,000 (-1.6%) $2,125,618 (1.1%) 0.00 454
    2019-06-01 $979,000 (-4.5%) $2,107,170 (-0.5%) 0.00 485
    2019-07-01 $948,900 (-1.4%) $2,107,359 (2.3%) 0.00 496
    2019-08-01 $961,571 (5.4%) $2,159,849 (7.2%) 0.00 497
    2019-09-01 $998,000 (7.9%) $2,221,612 (11.7%) 0.00 501
    2019-10-01 $985,000 (5.4%) $2,325,020 (14.2%) 0.00 505
    2019-11-01 $995,000 (8.5%) $2,477,628 (24.0%) 0.00 435
    2019-12-01 $997,000 (11.4%) $2,530,787 (37.8%) 0.00 330
    2020-01-01 $1,069,000 (24.7%) $2,621,214 (55.5%) 0.00 252
    2020-02-01 $1,049,000 (23.4%) $2,467,042 (49.8%) 0.00 293
    2020-03-01 $1,149,500 (30.8%) $2,515,596 (44.0%) 0.00 345
    2020-04-01 $999,999 (7.4%) $2,423,728 (20.5%) 0.00 316
    2020-05-01 $999,000 (0.2%) $2,277,219 (7.1%) 0.00 409
    2020-06-01 $1,125,000 (14.9%) $2,409,168 (14.3%) 0.00 393
    2020-07-01 $1,197,500 (26.2%) $2,521,540 (19.7%) 0.00 382
    2020-08-01 $1,350,000 (40.4%) $2,738,649 (26.8%) 0.00 326
    2020-09-01 $1,372,500 (37.5%) $3,030,996 (36.4%) 0.00 322
    2020-10-01 $1,300,000 (32.0%) $2,852,962 (22.7%) 0.00 316
    2020-11-01 $1,317,500 (32.4%) $2,964,859 (19.7%) 0.00 309
    2020-12-01 $1,347,950 (35.2%) $3,055,303 (20.7%) 0.00 246
    2021-01-01 $1,295,000 (21.1%) $3,028,902 (15.6%) 0.00 223
    2021-02-01 $1,324,500 (26.3%) $3,181,085 (28.9%) 0.00 211
    2021-03-01 $1,382,000 (20.2%) $2,905,489 (15.5%) 0.00 216
    2021-04-01 $1,382,000 (38.2%) $2,996,678 (23.6%) 0.00 222
    2021-05-01 $1,398,000 (39.9%) $3,148,026 (38.2%) 0.00 237
    2021-06-01 $1,375,000 (22.2%) $3,222,837 (33.8%) 0.00 277
    2021-07-01 $1,297,500 (8.4%) $3,248,446 (28.8%) 0.00 274
    2021-08-01 $1,295,000 (-4.1%) $3,230,076 (17.9%) 0.00 275
    2021-09-01 $1,395,000 (1.6%) $3,214,875 (6.1%) 0.00 278
    2021-10-01 $1,295,000 (-0.4%) $3,146,821 (10.3%) 0.00 275
    2021-11-01 $1,442,500 (9.5%) $3,595,586 (21.3%) 0.00 211
    2021-12-01 $1,547,000 (14.8%) $3,736,325 (22.3%) 0.00 165
    2022-01-01 $1,500,000 (15.8%) $3,464,458 (14.4%) 0.00 130
    2022-02-01 $1,499,500 (13.2%) $3,456,061 (8.6%) 0.00 146
    2022-03-01 $1,699,500 (23.0%) $3,781,189 (30.1%) 0.00 171
    2022-04-01 $1,695,000 (22.7%) $3,679,928 (22.8%) 0.00 200
    Napa's median listing price for 2022-04-01 was $1,695,000, a difference of $313,000 (22.7%) versus the prior year and $-4,500 versus the prior month.

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

    Napa's average listing price for 2022-04-01 was $3,679,928, a difference of $683,250 (22.8%) versus the prior year and $-101,261 versus the prior month.

    For the 2022-04-01 period, Napa had 200 MLS listings, a difference of 29 listings (17%) versus the prior month and -22 listings (-10%) 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 1,907 sqft
    2018-02-01 0 days 1,878 sqft
    2018-03-01 0 days 1,905 sqft
    2018-04-01 0 days 2,030 sqft
    2018-05-01 0 days 2,052 sqft
    2018-06-01 0 days 2,087 sqft
    2018-07-01 0 days 2,039 sqft
    2018-08-01 0 days 2,005 sqft
    2018-09-01 0 days 2,051 sqft
    2018-10-01 0 days 2,056 sqft
    2018-11-01 0 days 1,966 sqft
    2018-12-01 0 days 1,956 sqft
    2019-01-01 0 days 1,899 sqft
    2019-02-01 0 days 1,907 sqft
    2019-03-01 0 days 1,952 sqft
    2019-04-01 0 days 2,045 sqft
    2019-05-01 0 days 2,099 sqft
    2019-06-01 0 days 2,037 sqft
    2019-07-01 0 days 1,996 sqft
    2019-08-01 0 days 1,984 sqft
    2019-09-01 0 days 1,976 sqft
    2019-10-01 0 days 1,962 sqft
    2019-11-01 0 days 2,024 sqft
    2019-12-01 0 days 2,064 sqft
    2020-01-01 0 days 2,144 sqft
    2020-02-01 0 days 2,077 sqft
    2020-03-01 0 days 2,115 sqft
    2020-04-01 0 days 2,086 sqft
    2020-05-01 0 days 2,000 sqft
    2020-06-01 0 days 2,106 sqft
    2020-07-01 0 days 2,116 sqft
    2020-08-01 0 days 2,241 sqft
    2020-09-01 0 days 2,231 sqft
    2020-10-01 0 days 2,160 sqft
    2020-11-01 0 days 2,188 sqft
    2020-12-01 0 days 2,117 sqft
    2021-01-01 0 days 2,128 sqft
    2021-02-01 0 days 2,112 sqft
    2021-03-01 0 days 2,121 sqft
    2021-04-01 0 days 2,193 sqft
    2021-05-01 0 days 2,128 sqft
    2021-06-01 0 days 2,066 sqft
    2021-07-01 0 days 2,063 sqft
    2021-08-01 0 days 2,128 sqft
    2021-09-01 0 days 2,171 sqft
    2021-10-01 0 days 2,128 sqft
    2021-11-01 0 days 2,152 sqft
    2021-12-01 0 days 2,177 sqft
    2022-01-01 0 days 2,232 sqft
    2022-02-01 0 days 2,142 sqft
    2022-03-01 0 days 2,269 sqft
    2022-04-01 0 days 2,200 sqft
    Napa's median listing age (time on market) for 2022-04-01 was 0 days.

    Napa's median square footage for active listings during the 2022-04-01 period was 2,200 sqft. One year prior, the average listing was 2,193 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).