Ontario FHA Loan Rates, Closing Costs & Stats
Ontario, OR-ID
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 47 lenders originated 176 FHA loans during 2023. The total origination value was $47,360,000, with an average FHA loan value of $269,091.
Ontario FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Ontario
averaged
6.25%
for the week of 2024-12-13, compared to the national average (all FHA variants) of
6.277% for the same period.
Ontario's average FHA mortgage closing costs are $9,144.
The average rate for the prior week (2024-12-06) was
6.12% and
one month ago for the week of 2024-11-08, the
average rate was 6.38%.
The average rate one year ago was 6.49%.
For refis of the same type during the week of 2024-12-13, the average rate
was 6.08%.
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.
The top Ontario FHA lender as defined by loan originations is FIRST COLONY MORTGAGE CORPORATION, with
22 FHA loans originated. Their average total fees are
$12,790, which is $1,625
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Ontario FHA lenders (with over 10 loans originated) are
FIRST COLONY MORTGAGE CORPORATION ($12,790), QUICKEN LOANS, LLC ($14,414), .
The lowest rate Ontario FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.31%), FIRST COLONY MORTGAGE CORPORATION (6.67%), .
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. LouisDate | 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 | $262,250 (28.3%) | $347,048 (36.9%) | 0.00 | 118 |
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 (1.6%) | $316,242 (-8.9%) | 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 | $299,000 (18.6%) | $393,819 (22.4%) | 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 (33.4%) | $475,276 (20.7%) | 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 | $443,700 (31.7%) | $547,589 (18.9%) | 0.00 | 67 |
2022-04-01 | $452,500 (11.0%) | $636,542 (32.9%) | 0.00 | 76 |
2022-05-01 | $472,450 (21.1%) | $643,184 (37.3%) | 0.00 | 107 |
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%) | $566,155 (8.8%) | 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 (-1.7%) | $574,204 (4.9%) | 0.00 | 129 |
2023-04-01 | $425,000 (-6.1%) | $572,812 (-10.0%) | 0.00 | 131 |
2023-05-01 | $405,000 (-14.3%) | $546,232 (-15.1%) | 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 | $387,450 (-3.1%) | $477,025 (-13.0%) | 0.00 | 157 |
2023-12-01 | $372,500 (-6.9%) | $461,761 (-18.4%) | 0.00 | 148 |
2024-01-01 | $369,675 (-9.0%) | $495,055 (-15.7%) | 0.00 | 140 |
2024-02-01 | $366,500 (-10.2%) | $500,478 (-10.0%) | 0.00 | 139 |
2024-03-01 | $393,000 (-9.9%) | $522,831 (-9.0%) | 0.00 | 143 |
2024-04-01 | $406,625 (-4.3%) | $595,868 (4.0%) | 0.00 | 155 |
2024-05-01 | $445,975 (10.1%) | $628,258 (15.0%) | 0.00 | 173 |
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 (1.2%) | $542,706 (13.8%) | 0.00 | 222 |
Ontario's median listing price comes in at 0% of the national average.
Ontario's average listing price for 2024-11-01 was $542,706, a difference of $65,681 (13.8%) versus the prior year and $12,292 versus the prior month.
For the 2024-11-01 period, Ontario had 222 MLS listings, a difference of -12 listings (-5%) versus the prior month and 65 listings (41%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Ontario (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 | 1,846 sqft |
2019-06-01 | 0 days | 1,844 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 | 2,221 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 | 1,853 sqft |
2022-04-01 | 0 days | 1,885 sqft |
2022-05-01 | 0 days | 1,896 sqft |
2022-06-01 | 0 days | 1,869 sqft |
2022-07-01 | 0 days | 1,849 sqft |
2022-08-01 | 0 days | 1,872 sqft |
2022-09-01 | 0 days | 1,848 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 | 1,820 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 | 1,712 sqft |
2024-01-01 | 0 days | 1,702 sqft |
2024-02-01 | 0 days | 1,708 sqft |
2024-03-01 | 0 days | 1,780 sqft |
2024-04-01 | 0 days | 1,800 sqft |
2024-05-01 | 0 days | 1,943 sqft |
2024-06-01 | 0 days | 1,725 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 | 1,772 sqft |
Ontario's median square footage for active listings during the 2024-11-01 period was 1,772 sqft. One year prior, the average listing was 1,775 sqft.