Ontario FHA Loan Rates, Closing Costs & Stats

Ontario, OR-ID

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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.

    Ontario's 48 lenders originated 205 FHA loans during 2024. The total origination value was $57,615,000, with an average FHA loan value of $281,049.

    Ontario FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Ontario averaged 6.44% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Ontario's average FHA mortgage closing costs are $9,625.

    The average rate for the prior week (2025-03-28) was 6.23% and one month ago for the week of 2025-02-28, the average rate was 6.62%.

    The average rate one year ago was 6.54%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.02%.

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

    Ontario 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 Ontario level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    FIRST COLONY MORTGAGE CORPORATION 26 6.53% $12,697
    GUILD MORTGAGE COMPANY 25 6.38% $12,748
    UNITED WHOLESALE MORTGAGE, LLC 15 5.99% $14,342
    QUICKEN LOANS, LLC 13 6.17% $13,336
    FREEDOM MORTGAGE CORPORATION 5 6.53% $12,495
    S1L, Inc. 5 6.00% $14,446
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.47% $15,696
    MOVEMENT MORTGAGE, LLC 4 6.88% $11,130
    LOANDEPOT.COM, LLC 4 6.59% $14,077
    IDAHO CENTRAL 4 6.41% $9,758
    CROSSCOUNTRY MORTGAGE, LLC 4 6.41% $10,639
    AMERICAN FINANCIAL NETWORK, INC. 3 7.17% $17,875
    LOANPAL, LLC 3 5.54% $18,480
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 6.13% $10,280
    GUARANTEED RATE, INC. 2 5.90% $16,529
    BROKER SOLUTIONS, INC. 2 6.88% $13,243
    JMJ FINANCIAL GROUP 2 6.50% $14,101
    BAY EQUITY LLC 2 6.44% $11,226
    PLAZA HOME MORTGAGE, INC. 2 6.50% $13,928
    AMERISAVE MORTGAGE CORPORATION 2 6.25% $17,870
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.44% $11,035
    SUMMIT MORTGAGE CORPORATION 2 6.56% $10,825
    Sunflower Bank 2 6.63% $16,685
    VILLAGE CAPITAL MORTGAGE 2 5.69% $7,069
    D. L. Evans Bank 2 6.13% $12,462
    Boeing Employees Credit Union 1 6.63% $7,863
    Zions Bank 1 6.13% $9,083
    Mortgage Research Center, LLC 1 6.75% $6,533
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $8,506
    MOUNTAIN AMERICA 1 5.13% $11,216
    Washington Trust Bank 1 7.00% $10,561
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.75% $11,347
    MY MOVE MORTGAGE, LLC 1 6.75% $13,716
    NEW DAY FINANCIAL, LLC 1 7.50% $6,008
    NEWREZ LLC 1 6.25% $6,026
    PENNYMAC LOAN SERVICES, LLC 1 5.50% $6,721
    SUN WEST MORTGAGE COMPANY, INC. 1 7.38% $12,364
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 6.13% $18,818
    Century Mortgage Company DBA Century Lending Company 1 6.25% $9,862
    CASTLE & COOKE MORTGAGE, LLC 1 6.25% $10,770
    Franklin Loan Corporation 1 6.63% $18,782
    Carrington Mortgage Services, LLC 1 5.50% $17,101
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.50% $12,027
    AMERICAN FINANCING CORPORATION 1 5.50% $14,623
    CANOPY MORTGAGE, LLC 1 7.00% $19,023
    HOMESIDE FINANCIAL, LLC 1 6.75% $9,894
    U.S. Bank 1 6.13% $15,374
    VERITAS FUNDING, LLC 1 6.63% $19,632

    The top Ontario FHA lender as defined by loan originations is FIRST COLONY MORTGAGE CORPORATION, with 26 FHA loans originated. Their average total fees are $12,697, which is $51 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Ontario FHA lenders (with over 10 loans originated) are FIRST COLONY MORTGAGE CORPORATION ($12,697), GUILD MORTGAGE COMPANY ($12,748), QUICKEN LOANS, LLC ($13,336), UNITED WHOLESALE MORTGAGE, LLC ($14,342) and .

    The lowest rate Ontario FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.99%), QUICKEN LOANS, LLC (6.17%), GUILD MORTGAGE COMPANY (6.38%), FIRST COLONY MORTGAGE CORPORATION (6.53%) and .

    Ontario FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ONTARIO, OR-ID PAYETTE 2022 $420,680 $538,650 $651,050 $809,150
    ONTARIO, OR-ID MALHEUR 2022 $420,680 $538,650 $651,050 $809,150
    ONTARIO, OR-ID PAYETTE 2023 $472,030 $604,400 $730,525 $907,900
    ONTARIO, OR-ID MALHEUR 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Ontario (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 $179,900 (18.0%) $238,375 (13.1%) 0.00 164
    2018-02-01 $179,925 (16.2%) $241,406 (16.3%) 0.00 149
    2018-03-01 $190,999 (17.9%) $249,466 (17.3%) 0.00 129
    2018-04-01 $198,600 (17.6%) $250,847 (17.1%) 0.00 129
    2018-05-01 $204,450 (21.2%) $253,510 (16.1%) 0.00 138
    2018-06-01 $214,000 (20.4%) $272,331 (23.8%) 0.00 153
    2018-07-01 $223,950 (24.8%) $287,137 (25.4%) 0.00 154
    2018-08-01 $231,750 (35.4%) $287,820 (26.3%) 0.00 158
    2018-09-01 $249,999 (48.0%) $288,909 (30.7%) 0.00 151
    2018-10-01 $267,250 (59.2%) $294,991 (37.2%) 0.00 147
    2018-11-01 $260,950 (51.3%) $290,468 (30.5%) 0.00 139
    2018-12-01 $265,500 (47.6%) $324,263 (34.1%) 0.00 138
    2019-01-01 $267,875 (48.9%) $322,414 (35.3%) 0.00 123
    2019-02-01 $248,250 (38.0%) $299,178 (23.9%) 0.00 116
    2019-03-01 $249,386 (30.6%) $304,249 (22.0%) 0.00 126
    2019-04-01 $257,450 (29.6%) $327,754 (30.7%) 0.00 130
    2019-05-01 $262,500 (28.4%) $349,070 (37.7%) 0.00 120
    2019-06-01 $250,000 (16.8%) $343,102 (26.0%) 0.00 111
    2019-07-01 $247,500 (10.5%) $321,780 (12.1%) 0.00 128
    2019-08-01 $249,973 (7.9%) $323,027 (12.2%) 0.00 126
    2019-09-01 $249,932 (0.0%) $322,798 (11.7%) 0.00 137
    2019-10-01 $252,205 (-5.6%) $321,836 (9.1%) 0.00 137
    2019-11-01 $253,900 (-2.7%) $319,491 (10.0%) 0.00 124
    2019-12-01 $259,950 (-2.1%) $333,099 (2.7%) 0.00 104
    2020-01-01 $289,900 (8.2%) $366,223 (13.6%) 0.00 78
    2020-02-01 $273,900 (10.3%) $340,306 (13.8%) 0.00 83
    2020-03-01 $268,900 (7.8%) $337,748 (11.0%) 0.00 95
    2020-04-01 $266,675 (3.6%) $329,267 (0.5%) 0.00 99
    2020-05-01 $266,450 (1.5%) $316,242 (-9.4%) 0.00 84
    2020-06-01 $297,450 (19.0%) $366,415 (6.8%) 0.00 71
    2020-07-01 $309,075 (24.9%) $393,789 (22.4%) 0.00 64
    2020-08-01 $327,495 (31.0%) $393,771 (21.9%) 0.00 59
    2020-09-01 $329,725 (31.9%) $399,710 (23.8%) 0.00 51
    2020-10-01 $297,000 (17.8%) $392,030 (21.8%) 0.00 57
    2020-11-01 $352,704 (38.9%) $446,563 (39.8%) 0.00 50
    2020-12-01 $319,794 (23.0%) $425,977 (27.9%) 0.00 42
    2021-01-01 $289,960 (0.0%) $411,443 (12.4%) 0.00 35
    2021-02-01 $314,995 (15.0%) $426,547 (25.3%) 0.00 37
    2021-03-01 $336,925 (25.3%) $460,751 (36.4%) 0.00 38
    2021-04-01 $407,500 (52.8%) $478,877 (45.4%) 0.00 44
    2021-05-01 $390,000 (46.4%) $468,441 (48.1%) 0.00 47
    2021-06-01 $373,610 (25.6%) $460,355 (25.6%) 0.00 61
    2021-07-01 $400,000 (29.4%) $465,324 (18.2%) 0.00 86
    2021-08-01 $397,450 (21.4%) $473,201 (20.2%) 0.00 97
    2021-09-01 $419,925 (27.4%) $477,272 (19.4%) 0.00 107
    2021-10-01 $399,000 (34.3%) $475,276 (21.2%) 0.00 113
    2021-11-01 $422,500 (19.8%) $508,187 (13.8%) 0.00 94
    2021-12-01 $427,475 (33.7%) $520,289 (22.1%) 0.00 86
    2022-01-01 $448,000 (54.5%) $525,707 (27.8%) 0.00 70
    2022-02-01 $447,975 (42.2%) $490,700 (15.0%) 0.00 64
    2022-03-01 $444,075 (31.8%) $548,088 (19.0%) 0.00 67
    2022-04-01 $455,000 (11.7%) $635,861 (32.8%) 0.00 77
    2022-05-01 $472,450 (21.1%) $642,710 (37.2%) 0.00 108
    2022-06-01 $429,000 (14.8%) $586,322 (27.4%) 0.00 150
    2022-07-01 $413,000 (3.3%) $543,898 (16.9%) 0.00 194
    2022-08-01 $411,000 (3.4%) $545,800 (15.3%) 0.00 193
    2022-09-01 $399,900 (-4.8%) $540,253 (13.2%) 0.00 179
    2022-10-01 $405,000 (1.5%) $538,864 (13.4%) 0.00 191
    2022-11-01 $399,999 (-5.3%) $548,124 (7.9%) 0.00 173
    2022-12-01 $399,900 (-6.5%) $569,474 (9.5%) 0.00 147
    2023-01-01 $406,000 (-9.4%) $587,188 (11.7%) 0.00 131
    2023-02-01 $408,200 (-8.9%) $555,879 (13.3%) 0.00 135
    2023-03-01 $436,175 (-1.8%) $574,204 (4.8%) 0.00 129
    2023-04-01 $425,000 (-6.6%) $572,812 (-9.9%) 0.00 131
    2023-05-01 $405,000 (-14.3%) $546,232 (-15.0%) 0.00 138
    2023-06-01 $403,750 (-5.9%) $533,975 (-8.9%) 0.00 153
    2023-07-01 $405,000 (-1.9%) $574,435 (5.6%) 0.00 166
    2023-08-01 $410,750 (-0.1%) $512,580 (-6.1%) 0.00 168
    2023-09-01 $399,999 (0.0%) $504,710 (-6.6%) 0.00 170
    2023-10-01 $394,900 (-2.5%) $488,323 (-9.4%) 0.00 170
    2023-11-01 $386,225 (-3.4%) $476,562 (-13.1%) 0.00 158
    2023-12-01 $370,000 (-7.5%) $460,522 (-19.1%) 0.00 149
    2024-01-01 $369,225 (-9.1%) $493,415 (-16.0%) 0.00 141
    2024-02-01 $366,000 (-10.3%) $498,742 (-10.3%) 0.00 140
    2024-03-01 $390,000 (-10.6%) $520,936 (-9.3%) 0.00 144
    2024-04-01 $404,537 (-4.8%) $593,821 (3.7%) 0.00 156
    2024-05-01 $426,250 (5.3%) $619,273 (13.4%) 0.00 175
    2024-06-01 $399,900 (-1.0%) $567,618 (6.3%) 0.00 222
    2024-07-01 $394,975 (-2.5%) $532,739 (-7.3%) 0.00 251
    2024-08-01 $389,900 (-5.1%) $535,337 (4.4%) 0.00 246
    2024-09-01 $388,400 (-2.9%) $538,186 (6.6%) 0.00 250
    2024-10-01 $387,900 (-1.8%) $530,414 (8.6%) 0.00 234
    2024-11-01 $391,950 (1.5%) $541,169 (13.6%) 0.00 222
    2024-12-01 $394,750 (6.7%) $543,875 (18.1%) 0.00 208
    2025-01-01 $387,450 (4.9%) $537,815 (9.0%) 0.00 196
    2025-02-01 $397,000 (8.5%) $562,151 (12.7%) 0.00 193
    2025-03-01 $399,500 (2.4%) $564,750 (8.4%) 0.00 195
    Ontario's median listing price for 2025-03-01 was $399,500, a difference of $9,500 (2.4%) versus the prior year and $2,500 versus the prior month.

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

    Ontario's average listing price for 2025-03-01 was $564,750, a difference of $43,814 (8.4%) versus the prior year and $2,599 versus the prior month.

    For the 2025-03-01 period, Ontario had 195 MLS listings, a difference of 2 listings (1%) versus the prior month and 51 listings (35%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Ontario (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,733 sqft
    2018-02-01 0 days 1,758 sqft
    2018-03-01 0 days 1,701 sqft
    2018-04-01 0 days 1,844 sqft
    2018-05-01 0 days 1,814 sqft
    2018-06-01 0 days 1,793 sqft
    2018-07-01 0 days 1,798 sqft
    2018-08-01 0 days 1,900 sqft
    2018-09-01 0 days 1,945 sqft
    2018-10-01 0 days 2,034 sqft
    2018-11-01 0 days 1,978 sqft
    2018-12-01 0 days 1,928 sqft
    2019-01-01 0 days 1,860 sqft
    2019-02-01 0 days 1,850 sqft
    2019-03-01 0 days 1,848 sqft
    2019-04-01 0 days 1,848 sqft
    2019-05-01 0 days 1,850 sqft
    2019-06-01 0 days 1,845 sqft
    2019-07-01 0 days 1,841 sqft
    2019-08-01 0 days 1,876 sqft
    2019-09-01 0 days 1,889 sqft
    2019-10-01 0 days 1,920 sqft
    2019-11-01 0 days 1,954 sqft
    2019-12-01 0 days 1,951 sqft
    2020-01-01 0 days 2,047 sqft
    2020-02-01 0 days 1,894 sqft
    2020-03-01 0 days 1,760 sqft
    2020-04-01 0 days 1,756 sqft
    2020-05-01 0 days 1,756 sqft
    2020-06-01 0 days 2,015 sqft
    2020-07-01 0 days 2,163 sqft
    2020-08-01 0 days 2,240 sqft
    2020-09-01 0 days 2,217 sqft
    2020-10-01 0 days 1,930 sqft
    2020-11-01 0 days 2,304 sqft
    2020-12-01 0 days 2,048 sqft
    2021-01-01 0 days 1,999 sqft
    2021-02-01 0 days 1,750 sqft
    2021-03-01 0 days 1,715 sqft
    2021-04-01 0 days 2,006 sqft
    2021-05-01 0 days 1,843 sqft
    2021-06-01 0 days 1,928 sqft
    2021-07-01 0 days 1,920 sqft
    2021-08-01 0 days 1,961 sqft
    2021-09-01 0 days 1,852 sqft
    2021-10-01 0 days 1,923 sqft
    2021-11-01 0 days 1,908 sqft
    2021-12-01 0 days 1,990 sqft
    2022-01-01 0 days 1,926 sqft
    2022-02-01 0 days 1,870 sqft
    2022-03-01 0 days 1,866 sqft
    2022-04-01 0 days 1,888 sqft
    2022-05-01 0 days 1,897 sqft
    2022-06-01 0 days 1,869 sqft
    2022-07-01 0 days 1,840 sqft
    2022-08-01 0 days 1,869 sqft
    2022-09-01 0 days 1,845 sqft
    2022-10-01 0 days 1,908 sqft
    2022-11-01 0 days 1,916 sqft
    2022-12-01 0 days 1,909 sqft
    2023-01-01 0 days 1,924 sqft
    2023-02-01 0 days 1,948 sqft
    2023-03-01 0 days 1,972 sqft
    2023-04-01 0 days 1,994 sqft
    2023-05-01 0 days 1,991 sqft
    2023-06-01 0 days 1,983 sqft
    2023-07-01 0 days 1,911 sqft
    2023-08-01 0 days 1,850 sqft
    2023-09-01 0 days 1,809 sqft
    2023-10-01 0 days 1,809 sqft
    2023-11-01 0 days 1,775 sqft
    2023-12-01 0 days 1,708 sqft
    2024-01-01 0 days 1,700 sqft
    2024-02-01 0 days 1,708 sqft
    2024-03-01 0 days 1,778 sqft
    2024-04-01 0 days 1,800 sqft
    2024-05-01 0 days 1,901 sqft
    2024-06-01 0 days 1,719 sqft
    2024-07-01 0 days 1,655 sqft
    2024-08-01 0 days 1,714 sqft
    2024-09-01 0 days 1,670 sqft
    2024-10-01 0 days 1,729 sqft
    2024-11-01 0 days 1,768 sqft
    2024-12-01 0 days 1,777 sqft
    2025-01-01 0 days 1,711 sqft
    2025-02-01 0 days 1,720 sqft
    2025-03-01 0 days 1,754 sqft
    Ontario's median listing age (time on market) for 2025-03-01 was 0 days.

    Ontario's median square footage for active listings during the 2025-03-01 period was 1,754 sqft. One year prior, the average listing was 1,778 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).