Oakland FHA Loan Rates, Closing Costs & Stats
OAKLAND-BERKELEY-LIVERMORE, CA
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.
Oakland FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Oakland
averaged
0%
for the week of 2023-03-31, compared to the national average (all FHA variants) of
6.346% for the same period.
Oakland's average FHA mortgage closing costs are $0.
The average rate for the prior week (2023-03-24) was
0% and
one month ago for the week of 2023-02-24, the
average rate was 0%.
The average rate one year ago was 0%.
For refis of the same type during the week of 2023-03-31, the average rate
was 0%.
Oakland 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 Oakland level.
Name | # of Loans | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
---|
The lowest fee Oakland FHA lenders (with over 10 loans originated) are
.
The lowest rate Oakland FHA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Oakland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $843,722 (6.9%) | $1,502,824 (14.4%) | 3.13 | 2,294 |
2018-02-01 | $898,500 (6.4%) | $1,547,349 (12.0%) | 3.26 | 2,716 |
2018-03-01 | $949,000 (6.2%) | $1,582,709 (10.9%) | 3.33 | 3,122 |
2018-04-01 | $986,856 (9.8%) | $1,610,195 (8.1%) | 3.35 | 3,620 |
2018-05-01 | $996,500 (10.7%) | $1,616,330 (8.3%) | 3.33 | 4,074 |
2018-06-01 | $988,000 (9.5%) | $1,574,951 (5.9%) | 3.29 | 4,494 |
2018-07-01 | $927,500 (6.0%) | $1,481,163 (3.7%) | 3.09 | 4,809 |
2018-08-01 | $889,000 (4.7%) | $1,383,831 (-0.7%) | 2.98 | 4,925 |
2018-09-01 | $899,000 (2.8%) | $1,401,721 (-4.4%) | 3.02 | 5,961 |
2018-10-01 | $899,000 (0.0%) | $1,409,946 (-8.0%) | 3.04 | 6,158 |
2018-11-01 | $889,750 (-1.0%) | $1,428,592 (-8.0%) | 3.02 | 5,844 |
2018-12-01 | $849,950 (-3.3%) | $1,339,459 (-16.3%) | 2.93 | 4,174 |
2019-01-01 | $831,417 (-1.5%) | $1,301,294 (-13.4%) | 2.87 | 3,563 |
2019-02-01 | $887,000 (-1.3%) | $1,416,706 (-8.4%) | 2.99 | 4,084 |
2019-03-01 | $916,429 (-3.4%) | $1,481,263 (-6.4%) | 3.00 | 4,499 |
2019-04-01 | $947,444 (-4.0%) | $1,548,783 (-3.8%) | 3.01 | 4,898 |
2019-05-01 | $968,500 (-2.8%) | $1,494,490 (-7.5%) | 3.03 | 5,465 |
2019-06-01 | $959,950 (-2.8%) | $1,484,044 (-5.8%) | 3.00 | 5,927 |
2019-07-01 | $927,000 (-0.1%) | $1,529,948 (3.3%) | 2.90 | 5,830 |
2019-08-01 | $919,182 (3.4%) | $1,548,979 (11.9%) | 2.90 | 5,902 |
2019-09-01 | $935,955 (4.1%) | $1,536,080 (9.6%) | 2.99 | 6,015 |
2019-10-01 | $949,500 (5.6%) | $1,533,683 (8.8%) | 3.06 | 6,075 |
2019-11-01 | $949,000 (6.7%) | $1,609,486 (12.7%) | 3.11 | 4,960 |
2019-12-01 | $899,000 (5.8%) | $1,686,261 (25.9%) | 3.00 | 2,990 |
2020-01-01 | $893,500 (7.5%) | $1,699,296 (30.6%) | 2.98 | 2,563 |
2020-02-01 | $997,000 (12.4%) | $1,747,168 (23.3%) | 3.25 | 3,088 |
2020-03-01 | $998,944 (9.0%) | $1,709,840 (15.4%) | 3.13 | 3,526 |
2020-04-01 | $958,219 (1.1%) | $1,534,690 (-0.9%) | 3.00 | 3,419 |
2020-05-01 | $999,888 (3.2%) | $1,610,995 (7.8%) | 3.04 | 4,583 |
2020-06-01 | $1,078,750 (12.4%) | $1,662,007 (12.0%) | 3.17 | 4,952 |
2020-07-01 | $1,091,500 (17.8%) | $1,679,555 (9.8%) | 3.16 | 5,062 |
2020-08-01 | $1,050,000 (14.2%) | $1,673,332 (8.0%) | 3.01 | 5,205 |
2020-09-01 | $1,052,254 (12.4%) | $1,676,293 (9.1%) | 3.01 | 5,405 |
2020-10-01 | $1,070,000 (12.7%) | $1,673,373 (9.1%) | 3.07 | 5,810 |
2020-11-01 | $1,049,000 (10.5%) | $1,662,686 (3.3%) | 3.06 | 5,172 |
2020-12-01 | $998,250 (11.0%) | $1,709,727 (1.4%) | 2.96 | 3,718 |
2021-01-01 | $989,000 (10.7%) | $1,747,263 (2.8%) | 2.95 | 3,040 |
2021-02-01 | $999,498 (0.3%) | $1,772,590 (1.5%) | 2.90 | 3,232 |
2021-03-01 | $1,014,498 (1.6%) | $1,858,285 (8.7%) | 2.88 | 3,374 |
2021-04-01 | $1,049,500 (9.5%) | $1,865,405 (21.6%) | 2.84 | 3,460 |
2021-05-01 | $1,079,925 (8.0%) | $1,871,223 (16.2%) | 2.85 | 3,498 |
2021-06-01 | $1,062,750 (-1.5%) | $1,795,584 (8.0%) | 2.80 | 3,903 |
2021-07-01 | $999,000 (-8.5%) | $1,685,355 (0.4%) | 2.63 | 4,248 |
2021-08-01 | $995,000 (-5.2%) | $1,642,094 (-1.9%) | 2.64 | 4,270 |
2021-09-01 | $993,500 (-5.6%) | $1,695,927 (1.2%) | 2.65 | 4,607 |
2021-10-01 | $996,500 (-6.9%) | $1,757,446 (5.0%) | 2.66 | 4,573 |
2021-11-01 | $983,750 (-6.2%) | $1,869,760 (12.5%) | 2.62 | 3,551 |
2021-12-01 | $949,000 (-4.9%) | $1,844,451 (7.9%) | 2.57 | 2,331 |
2022-01-01 | $949,000 (-4.0%) | $1,743,484 (-0.2%) | 2.56 | 2,034 |
2022-02-01 | $992,000 (-0.8%) | $1,754,739 (-1.0%) | 2.58 | 2,482 |
2022-03-01 | $1,047,500 (3.3%) | $1,732,477 (-6.8%) | 2.62 | 3,008 |
2022-04-01 | $1,098,000 (4.6%) | $1,752,732 (-6.0%) | 2.61 | 3,395 |
2022-05-01 | $1,124,000 (4.1%) | $1,731,909 (-7.5%) | 2.57 | 4,616 |
2022-06-01 | $1,144,500 (7.7%) | $1,717,936 (-4.3%) | 2.55 | 5,680 |
2022-07-01 | $1,098,000 (9.9%) | $1,627,106 (-3.5%) | 2.47 | 6,245 |
2022-08-01 | $1,043,000 (4.8%) | $1,568,280 (-4.5%) | 2.40 | 5,969 |
2022-09-01 | $1,089,444 (9.7%) | $1,647,284 (-2.9%) | 2.54 | 5,923 |
2022-10-01 | $1,090,000 (9.4%) | $1,692,939 (-3.7%) | 2.56 | 6,027 |
2022-11-01 | $1,037,000 (5.4%) | $1,690,579 (-9.6%) | 2.49 | 5,369 |
2022-12-01 | $993,210 (4.7%) | $1,666,894 (-9.6%) | 2.45 | 3,656 |
2023-01-01 | $978,500 (3.1%) | $1,644,241 (-5.7%) | 2.41 | 2,987 |
2023-02-01 | $1,008,750 (1.7%) | $1,759,086 (0.3%) | 2.43 | 3,089 |
2023-03-01 | $1,080,000 (3.1%) | $1,802,730 (4.1%) | 2.54 | 3,163 |
Oakland's median listing price comes in at 254% of the national average.
Oakland's average listing price for 2023-03-01 was $1,802,730, a difference of $70,253 (4.1%) versus the prior year and $43,644 versus the prior month.
For the 2023-03-01 period, Oakland had 3,163 MLS listings, a difference of 74 listings (2%) versus the prior month and 155 listings (5%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Oakland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 31 days | 1,719 sqft |
2018-02-01 | 19 days | 1,741 sqft |
2018-03-01 | 21 days | 1,763 sqft |
2018-04-01 | 23 days | 1,798 sqft |
2018-05-01 | 21 days | 1,811 sqft |
2018-06-01 | 24 days | 1,785 sqft |
2018-07-01 | 29 days | 1,743 sqft |
2018-08-01 | 30 days | 1,714 sqft |
2018-09-01 | 27 days | 1,696 sqft |
2018-10-01 | 31 days | 1,694 sqft |
2018-11-01 | 37 days | 1,664 sqft |
2018-12-01 | 50 days | 1,620 sqft |
2019-01-01 | 49 days | 1,605 sqft |
2019-02-01 | 26 days | 1,642 sqft |
2019-03-01 | 28 days | 1,710 sqft |
2019-04-01 | 26 days | 1,778 sqft |
2019-05-01 | 26 days | 1,821 sqft |
2019-06-01 | 32 days | 1,795 sqft |
2019-07-01 | 36 days | 1,763 sqft |
2019-08-01 | 36 days | 1,745 sqft |
2019-09-01 | 36 days | 1,723 sqft |
2019-10-01 | 37 days | 1,705 sqft |
2019-11-01 | 50 days | 1,698 sqft |
2019-12-01 | 68 days | 1,708 sqft |
2020-01-01 | 54 days | 1,682 sqft |
2020-02-01 | 23 days | 1,720 sqft |
2020-03-01 | 25 days | 1,754 sqft |
2020-04-01 | 39 days | 1,756 sqft |
2020-05-01 | 32 days | 1,760 sqft |
2020-06-01 | 32 days | 1,713 sqft |
2020-07-01 | 33 days | 1,635 sqft |
2020-08-01 | 36 days | 1,586 sqft |
2020-09-01 | 36 days | 1,549 sqft |
2020-10-01 | 35 days | 1,541 sqft |
2020-11-01 | 45 days | 1,519 sqft |
2020-12-01 | 57 days | 1,489 sqft |
2021-01-01 | 51 days | 1,462 sqft |
2021-02-01 | 28 days | 1,482 sqft |
2021-03-01 | 29 days | 1,524 sqft |
2021-04-01 | 30 days | 1,550 sqft |
2021-05-01 | 28 days | 1,573 sqft |
2021-06-01 | 28 days | 1,555 sqft |
2021-07-01 | 27 days | 1,548 sqft |
2021-08-01 | 29 days | 1,546 sqft |
2021-09-01 | 29 days | 1,534 sqft |
2021-10-01 | 30 days | 1,515 sqft |
2021-11-01 | 39 days | 1,497 sqft |
2021-12-01 | 48 days | 1,452 sqft |
2022-01-01 | 38 days | 1,419 sqft |
2022-02-01 | 19 days | 1,453 sqft |
2022-03-01 | 22 days | 1,507 sqft |
2022-04-01 | 23 days | 1,536 sqft |
2022-05-01 | 23 days | 1,572 sqft |
2022-06-01 | 25 days | 1,600 sqft |
2022-07-01 | 31 days | 1,582 sqft |
2022-08-01 | 36 days | 1,570 sqft |
2022-09-01 | 38 days | 1,594 sqft |
2022-10-01 | 38 days | 1,606 sqft |
2022-11-01 | 46 days | 1,592 sqft |
2022-12-01 | 62 days | 1,560 sqft |
2023-01-01 | 64 days | 1,552 sqft |
2023-02-01 | 33 days | 1,557 sqft |
2023-03-01 | 34 days | 1,572 sqft |
Oakland's median square footage for active listings during the 2023-03-01 period was 1,572 sqft. One year prior, the average listing was 1,507 sqft.