Nogales FHA Loan Rates, Closing Costs & Stats

Nogales, AZ

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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.

    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 6.27% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.44% and one month ago for the week of 2024-10-04, the average rate was 6.06%.

    The average rate one year ago was 7.31%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.43%.

    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
    2024-05-01 $378,500 (15.6%) $897,667 (71.7%) 0.00 197
    2024-06-01 $359,500 (8.5%) $887,086 (70.0%) 0.00 203
    2024-07-01 $361,125 (3.5%) $870,422 (60.1%) 0.00 207
    2024-08-01 $389,500 (10.8%) $869,857 (35.9%) 0.00 199
    2024-09-01 $387,025 (3.2%) $850,901 (13.1%) 0.00 217
    2024-10-01 $385,675 (1.7%) $840,073 (14.3%) 0.00 233
    Nogales's median listing price for 2024-10-01 was $385,675, a difference of $6,500 (1.7%) versus the prior year and $-1,350 versus the prior month.

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

    Nogales's average listing price for 2024-10-01 was $840,073, a difference of $105,316 (14.3%) versus the prior year and $-10,828 versus the prior month.

    For the 2024-10-01 period, Nogales had 233 MLS listings, a difference of 16 listings (7%) versus the prior month and 31 listings (15%) 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
    2024-05-01 0 days 1,971 sqft
    2024-06-01 0 days 1,859 sqft
    2024-07-01 0 days 1,836 sqft
    2024-08-01 0 days 1,846 sqft
    2024-09-01 0 days 1,847 sqft
    2024-10-01 0 days 1,820 sqft
    Nogales's median listing age (time on market) for 2024-10-01 was 0 days.

    Nogales's median square footage for active listings during the 2024-10-01 period was 1,820 sqft. One year prior, the average listing was 1,904 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).