Nogales FHA Loan Rates, Closing Costs & Stats

Nogales, AZ

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.

Nogales's 39 lenders originated 181 FHA loans during 2023. The total origination value was $44,675,000, with an average FHA loan value of $246,823.

Nogales FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Nogales averaged 6.49% for the week of 2024-05-17, compared to the national average (all FHA variants) of 6.744% for the same period.

Nogales's average FHA mortgage closing costs are $7,322.

The average rate for the prior week (2024-05-10) was 6.53% and one month ago for the week of 2024-04-12, the average rate was 6.79%.

The average rate one year ago was 6.24%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.84%.

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

Nogales 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 Nogales level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
AMERICAN PACIFIC MORTGAGE CORPORATION 38 6.69% $11,585
ALTITUDE FINANCIAL CORPORATION 19 6.36% $8,256
NOVA FINANCIAL & INVESTMENT CORPORATION 15 6.34% $7,818
QUICKEN LOANS, LLC 12 6.18% $10,755
UNITED WHOLESALE MORTGAGE, LLC 10 6.24% $12,603
LOANDEPOT.COM, LLC 8 6.36% $11,075
Flagstar Bank, FSB 6 6.58% $12,546
CROSSCOUNTRY MORTGAGE, LLC 6 6.19% $11,411
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.45% $12,280
MORIA DEVELOPMENT, INC. 5 6.75% $11,862
MOVEMENT MORTGAGE, LLC 4 6.34% $12,924
Neighborhood Loans, Inc. 4 6.22% $12,138
INTERLINC MORTGAGE SERVICES, LLC 4 6.41% $12,752
JPMorgan Chase Bank 2 6.00% $8,221
AMERISAVE MORTGAGE CORPORATION 2 6.13% $14,473
BROKER SOLUTIONS, INC. 2 6.75% $10,771
FREEDOM MORTGAGE CORPORATION 2 6.75% $12,786
Paramount Residential Mortgage Group, Inc. 2 6.38% $7,798
SECURITYNATIONAL MORTGAGE COMPANY 2 6.94% $15,714
GUILD MORTGAGE COMPANY 1 7.25% $11,498
GUARANTEED RATE, INC. 1 6.25% $12,548
MICHIGAN FIRST CREDIT UNION 1 4.88% $14,073
GUARANTEED RATE AFFINITY, LLC 1 7.25% $13,487
Equity Prime Mortgage LLC 1 5.88% $15,026
Mr. Cooper ( Nationstar Mortgage ) 1 7.75% $18,303
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $12,976
CMG MORTGAGE, INC. 1 6.75% $11,764
NEWREZ LLC 1 6.75% $8,211
Carrington Mortgage Services, LLC 1 7.63% $14,157
AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $16,555
PENNYMAC LOAN SERVICES, LLC 1 6.00% $9,094
PENTAGON FEDERAL CREDIT UNION 1 5.50% $12,979
PLANET HOME LENDING, LLC 1 6.75% $15,536
Bell Bank 1 7.25% $9,071
Wells Fargo Bank 1 6.63% $10,092
The Federal Savings Bank 1 5.50% $15,542
TruHome Solutions, LLC 1 5.13% $8,860
iCore Lending, Inc. 1 6.75% $14,764
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 5.63% $11,680

The top Nogales FHA lender as defined by loan originations is AMERICAN PACIFIC MORTGAGE CORPORATION, with 38 FHA loans originated. Their average total fees are $11,585, which is $3,329 higher than the next largest lender, ALTITUDE FINANCIAL CORPORATION.

The lowest fee Nogales FHA lenders (with over 10 loans originated) are NOVA FINANCIAL & INVESTMENT CORPORATION ($7,818), ALTITUDE FINANCIAL CORPORATION ($8,256), QUICKEN LOANS, LLC ($10,755), AMERICAN PACIFIC MORTGAGE CORPORATION ($11,585) and UNITED WHOLESALE MORTGAGE, LLC ($12,603).

The lowest rate Nogales FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.18%), UNITED WHOLESALE MORTGAGE, LLC (6.24%), NOVA FINANCIAL & INVESTMENT CORPORATION (6.34%), ALTITUDE FINANCIAL CORPORATION (6.36%) and AMERICAN PACIFIC MORTGAGE CORPORATION (6.69%).

Nogales FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
NOGALES, AZ SANTA CRUZ 2022 $420,680 $538,650 $651,050 $809,150
NOGALES, AZ SANTA CRUZ 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Nogales (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 $293,875 (6.3%) $447,542 (8.8%) 0.00 237
2018-02-01 $322,425 (25.3%) $494,955 (21.5%) 0.00 240
2018-03-01 $299,000 (8.2%) $460,061 (9.9%) 0.00 321
2018-04-01 $299,900 (9.1%) $471,752 (10.3%) 0.00 294
2018-05-01 $301,200 (7.6%) $493,543 (13.2%) 0.00 254
2018-06-01 $299,900 (2.7%) $510,073 (12.4%) 0.00 238
2018-07-01 $306,250 (7.6%) $525,446 (17.1%) 0.00 230
2018-08-01 $304,950 (8.6%) $511,727 (15.0%) 0.00 242
2018-09-01 $299,900 (7.2%) $484,159 (9.3%) 0.00 253
2018-10-01 $304,950 (4.7%) $478,079 (7.8%) 0.00 276
2018-11-01 $321,750 (13.5%) $512,235 (19.8%) 0.00 265
2018-12-01 $314,500 (10.8%) $498,011 (16.1%) 0.00 255
2019-01-01 $311,000 (5.8%) $500,107 (11.8%) 0.00 261
2019-02-01 $310,000 (-3.9%) $477,703 (-3.5%) 0.00 272
2019-03-01 $331,386 (10.8%) $497,744 (8.2%) 0.00 259
2019-04-01 $339,950 (13.4%) $505,903 (7.2%) 0.00 249
2019-05-01 $327,250 (8.7%) $514,299 (4.2%) 0.00 226
2019-06-01 $325,000 (8.4%) $505,931 (-0.8%) 0.00 234
2019-07-01 $317,225 (3.6%) $498,190 (-5.2%) 0.00 242
2019-08-01 $311,727 (2.2%) $491,145 (-4.0%) 0.00 243
2019-09-01 $306,818 (2.3%) $469,497 (-3.0%) 0.00 241
2019-10-01 $305,545 (0.2%) $455,417 (-4.7%) 0.00 239
2019-11-01 $329,000 (2.3%) $469,178 (-8.4%) 0.00 232
2019-12-01 $328,500 (4.5%) $466,443 (-6.3%) 0.00 231
2020-01-01 $327,100 (5.2%) $517,464 (3.5%) 0.00 230
2020-02-01 $354,500 (14.4%) $551,938 (15.5%) 0.00 212
2020-03-01 $370,725 (11.9%) $612,622 (23.1%) 0.00 208
2020-04-01 $380,000 (11.8%) $640,280 (26.6%) 0.00 199
2020-05-01 $375,000 (14.6%) $651,094 (26.6%) 0.00 188
2020-06-01 $363,750 (11.9%) $668,544 (32.1%) 0.00 171
2020-07-01 $389,000 (22.6%) $699,054 (40.3%) 0.00 156
2020-08-01 $397,000 (27.4%) $714,159 (45.4%) 0.00 138
2020-09-01 $352,500 (14.9%) $716,674 (52.7%) 0.00 137
2020-10-01 $350,000 (14.6%) $715,631 (57.1%) 0.00 126
2020-11-01 $392,000 (19.2%) $743,183 (58.4%) 0.00 121
2020-12-01 $378,250 (15.1%) $729,493 (56.4%) 0.00 114
2021-01-01 $399,000 (22.0%) $713,968 (38.0%) 0.00 112
2021-02-01 $390,750 (10.2%) $708,437 (28.4%) 0.00 104
2021-03-01 $499,904 (34.8%) $848,662 (38.5%) 0.00 82
2021-04-01 $491,250 (29.3%) $808,052 (26.2%) 0.00 90
2021-05-01 $498,748 (33.0%) $836,654 (28.5%) 0.00 81
2021-06-01 $464,450 (27.7%) $811,686 (21.4%) 0.00 85
2021-07-01 $429,000 (10.3%) $723,301 (3.5%) 0.00 86
2021-08-01 $429,000 (8.1%) $702,625 (-1.6%) 0.00 85
2021-09-01 $425,000 (20.6%) $681,972 (-4.8%) 0.00 92
2021-10-01 $382,500 (9.3%) $656,732 (-8.2%) 0.00 99
2021-11-01 $364,925 (-6.9%) $634,667 (-14.6%) 0.00 109
2021-12-01 $393,500 (4.0%) $645,627 (-11.5%) 0.00 102
2022-01-01 $424,950 (6.5%) $677,003 (-5.2%) 0.00 101
2022-02-01 $444,250 (13.7%) $668,032 (-5.7%) 0.00 101
2022-03-01 $457,250 (-8.5%) $726,445 (-14.4%) 0.00 96
2022-04-01 $392,000 (-20.2%) $695,136 (-14.0%) 0.00 91
2022-05-01 $390,750 (-21.7%) $715,057 (-14.5%) 0.00 88
2022-06-01 $392,000 (-15.6%) $682,802 (-15.9%) 0.00 94
2022-07-01 $382,250 (-10.9%) $631,613 (-12.7%) 0.00 114
2022-08-01 $354,450 (-17.4%) $571,658 (-18.6%) 0.00 143
2022-09-01 $349,975 (-17.7%) $571,860 (-16.2%) 0.00 141
2022-10-01 $350,000 (-8.5%) $573,454 (-12.7%) 0.00 154
2022-11-01 $347,450 (-4.8%) $566,097 (-10.8%) 0.00 162
2022-12-01 $329,900 (-16.2%) $543,713 (-15.8%) 0.00 165
2023-01-01 $329,975 (-22.4%) $540,077 (-20.2%) 0.00 169
2023-02-01 $337,225 (-24.1%) $537,429 (-19.6%) 0.00 162
2023-03-01 $345,000 (-24.6%) $577,777 (-20.5%) 0.00 154
2023-04-01 $330,000 (-15.8%) $536,380 (-22.8%) 0.00 170
2023-05-01 $327,500 (-16.2%) $522,782 (-26.9%) 0.00 168
2023-06-01 $331,500 (-15.4%) $521,908 (-23.6%) 0.00 165
2023-07-01 $349,000 (-8.7%) $543,590 (-13.9%) 0.00 171
2023-08-01 $351,475 (-0.8%) $640,330 (12.0%) 0.00 174
2023-09-01 $375,000 (7.2%) $752,596 (31.6%) 0.00 179
2023-10-01 $379,175 (8.3%) $734,757 (28.1%) 0.00 202
2023-11-01 $359,425 (3.5%) $742,818 (31.2%) 0.00 204
2023-12-01 $356,000 (7.9%) $844,947 (55.4%) 0.00 207
2024-01-01 $371,975 (12.7%) $856,028 (58.5%) 0.00 205
2024-02-01 $387,000 (14.8%) $881,195 (64.0%) 0.00 196
2024-03-01 $380,000 (10.1%) $891,092 (54.2%) 0.00 195
2024-04-01 $401,000 (21.5%) $917,012 (71.0%) 0.00 183
Nogales's median listing price for 2024-04-01 was $401,000, a difference of $71,000 (21.5%) versus the prior year and $21,000 versus the prior month.

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

Nogales's average listing price for 2024-04-01 was $917,012, a difference of $380,632 (71.0%) versus the prior year and $25,920 versus the prior month.

For the 2024-04-01 period, Nogales had 183 MLS listings, a difference of -12 listings (-6%) versus the prior month and 13 listings (8%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Nogales (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,211 sqft
2018-02-01 0 days 2,240 sqft
2018-03-01 0 days 2,248 sqft
2018-04-01 0 days 2,330 sqft
2018-05-01 0 days 2,361 sqft
2018-06-01 0 days 2,404 sqft
2018-07-01 0 days 2,393 sqft
2018-08-01 0 days 2,345 sqft
2018-09-01 0 days 2,274 sqft
2018-10-01 0 days 2,258 sqft
2018-11-01 0 days 2,284 sqft
2018-12-01 0 days 2,241 sqft
2019-01-01 0 days 2,239 sqft
2019-02-01 0 days 2,229 sqft
2019-03-01 0 days 2,274 sqft
2019-04-01 0 days 2,280 sqft
2019-05-01 0 days 2,297 sqft
2019-06-01 0 days 2,293 sqft
2019-07-01 0 days 2,282 sqft
2019-08-01 0 days 2,253 sqft
2019-09-01 0 days 2,179 sqft
2019-10-01 0 days 2,129 sqft
2019-11-01 0 days 2,143 sqft
2019-12-01 0 days 2,104 sqft
2020-01-01 0 days 2,144 sqft
2020-02-01 0 days 2,197 sqft
2020-03-01 0 days 2,173 sqft
2020-04-01 0 days 2,155 sqft
2020-05-01 0 days 2,242 sqft
2020-06-01 0 days 2,202 sqft
2020-07-01 0 days 2,348 sqft
2020-08-01 0 days 2,318 sqft
2020-09-01 0 days 2,343 sqft
2020-10-01 0 days 2,182 sqft
2020-11-01 0 days 2,312 sqft
2020-12-01 0 days 2,217 sqft
2021-01-01 0 days 2,194 sqft
2021-02-01 0 days 2,282 sqft
2021-03-01 0 days 2,702 sqft
2021-04-01 0 days 2,574 sqft
2021-05-01 0 days 2,348 sqft
2021-06-01 0 days 2,364 sqft
2021-07-01 0 days 2,327 sqft
2021-08-01 0 days 2,332 sqft
2021-09-01 0 days 2,433 sqft
2021-10-01 0 days 2,230 sqft
2021-11-01 0 days 2,040 sqft
2021-12-01 0 days 2,200 sqft
2022-01-01 0 days 2,292 sqft
2022-02-01 0 days 2,200 sqft
2022-03-01 0 days 2,222 sqft
2022-04-01 0 days 2,198 sqft
2022-05-01 0 days 2,167 sqft
2022-06-01 0 days 2,169 sqft
2022-07-01 0 days 2,082 sqft
2022-08-01 0 days 2,004 sqft
2022-09-01 0 days 1,877 sqft
2022-10-01 0 days 1,915 sqft
2022-11-01 0 days 1,904 sqft
2022-12-01 0 days 1,803 sqft
2023-01-01 0 days 1,782 sqft
2023-02-01 0 days 1,763 sqft
2023-03-01 0 days 1,779 sqft
2023-04-01 0 days 1,777 sqft
2023-05-01 0 days 1,776 sqft
2023-06-01 0 days 1,796 sqft
2023-07-01 0 days 1,804 sqft
2023-08-01 0 days 1,838 sqft
2023-09-01 0 days 1,906 sqft
2023-10-01 0 days 1,904 sqft
2023-11-01 0 days 1,857 sqft
2023-12-01 0 days 1,804 sqft
2024-01-01 0 days 1,835 sqft
2024-02-01 0 days 1,869 sqft
2024-03-01 0 days 1,901 sqft
2024-04-01 0 days 1,953 sqft
Nogales's median listing age (time on market) for 2024-04-01 was 0 days.

Nogales's median square footage for active listings during the 2024-04-01 period was 1,953 sqft. One year prior, the average listing was 1,777 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).