Othello FHA Loan Rates, Closing Costs & Stats

Othello, WA

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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.

    Othello's 21 lenders originated 67 FHA loans during 2024. The total origination value was $20,965,000, with an average FHA loan value of $312,910.

    Othello FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Othello averaged 6.32% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Othello's average FHA mortgage closing costs are $9,689.

    The average rate for the prior week (2025-03-28) was 6.52% and one month ago for the week of 2025-02-28, the average rate was 6.6%.

    The average rate one year ago was 6.42%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.26%.

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

    Othello 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 Othello level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 16 6.69% $14,931
    1st Security Bank of Washington 10 5.48% $20,149
    UNITED WHOLESALE MORTGAGE, LLC 10 5.75% $16,527
    CHURCHILL MORTGAGE CORPORATION 3 6.04% $10,977
    CARDINAL FINANCIAL 2 6.43% $16,052
    BROKER SOLUTIONS, INC. 2 7.13% $11,987
    NEWREZ LLC 2 6.13% $12,086
    PENNYMAC LOAN SERVICES, LLC 2 6.25% $9,428
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.75% $13,568
    QUICKEN LOANS, LLC 2 6.69% $8,084
    Umpqua Bank 2 6.25% $15,739
    MOVEMENT MORTGAGE, LLC 1 6.75% $14,594
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.13% $12,727
    Sierra Pacific Mortgage Company, Inc. 1 6.13% $14,766
    PLANET HOME LENDING, LLC 1 6.25% $5,585
    The Loan Store, Inc. 1 6.13% $10,114
    Cornerstone First Mortgage, Inc 1 5.25% $18,473
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.25% $8,139
    FREEDOM MORTGAGE CORPORATION 1 6.75% $12,298
    AMERICAN FINANCING CORPORATION 1 5.13% $19,518
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.75% $4,056

    The top Othello FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 16 FHA loans originated. Their average total fees are $14,931, which is $5,218 lower than the next largest lender, 1st Security Bank of Washington.

    The lowest fee Othello FHA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($14,931), UNITED WHOLESALE MORTGAGE, LLC ($16,527), 1st Security Bank of Washington ($20,149), .

    The lowest rate Othello FHA lenders (with over 10 loans originated) are 1st Security Bank of Washington (5.48%), UNITED WHOLESALE MORTGAGE, LLC (5.75%), GUILD MORTGAGE COMPANY (6.69%), .

    Othello FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Othello (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 $165,000 (25.2%) $196,195 (33.2%) 0.00 26
    2018-02-01 $155,750 (42.9%) $180,403 (43.3%) 0.00 22
    2018-03-01 $154,000 (37.8%) $172,823 (22.0%) 0.00 23
    2018-04-01 $153,000 (38.5%) $174,502 (14.5%) 0.00 27
    2018-05-01 $159,500 (49.1%) $182,981 (14.2%) 0.00 30
    2018-06-01 $187,500 (73.6%) $219,032 (32.5%) 0.00 33
    2018-07-01 $167,500 (35.2%) $209,928 (21.9%) 0.00 40
    2018-08-01 $187,725 (20.0%) $235,200 (27.6%) 0.00 39
    2018-09-01 $183,500 (5.5%) $234,375 (19.1%) 0.00 40
    2018-10-01 $190,750 (3.7%) $229,345 (13.9%) 0.00 37
    2018-11-01 $195,500 (6.3%) $227,424 (16.4%) 0.00 35
    2018-12-01 $193,000 (10.0%) $242,765 (22.5%) 0.00 31
    2019-01-01 $170,000 (3.0%) $227,021 (15.7%) 0.00 34
    2019-02-01 $161,175 (3.5%) $216,276 (19.9%) 0.00 37
    2019-03-01 $153,871 (-0.1%) $222,173 (28.6%) 0.00 30
    2019-04-01 $170,171 (11.2%) $225,207 (29.1%) 0.00 30
    2019-05-01 $166,250 (4.2%) $215,735 (17.9%) 0.00 31
    2019-06-01 $170,000 (-9.3%) $211,119 (-3.6%) 0.00 38
    2019-07-01 $170,000 (1.5%) $216,536 (3.2%) 0.00 39
    2019-08-01 $176,818 (-5.8%) $218,275 (-7.2%) 0.00 42
    2019-09-01 $173,545 (-5.4%) $214,388 (-8.5%) 0.00 47
    2019-10-01 $169,250 (-11.3%) $211,426 (-7.8%) 0.00 47
    2019-11-01 $169,950 (-13.1%) $214,715 (-5.6%) 0.00 36
    2019-12-01 $174,950 (-9.4%) $214,717 (-11.6%) 0.00 39
    2020-01-01 $193,600 (13.9%) $216,346 (-4.7%) 0.00 36
    2020-02-01 $199,500 (23.8%) $219,422 (1.5%) 0.00 29
    2020-03-01 $189,950 (23.5%) $236,238 (6.3%) 0.00 25
    2020-04-01 $199,500 (17.2%) $238,527 (5.9%) 0.00 21
    2020-05-01 $202,000 (21.5%) $228,673 (6.0%) 0.00 22
    2020-06-01 $201,108 (18.3%) $228,222 (8.1%) 0.00 27
    2020-07-01 $225,000 (32.4%) $228,578 (5.6%) 0.00 37
    2020-08-01 $233,000 (31.8%) $225,527 (3.3%) 0.00 50
    2020-09-01 $237,021 (36.6%) $233,656 (9.0%) 0.00 59
    2020-10-01 $239,221 (41.3%) $234,482 (10.9%) 0.00 56
    2020-11-01 $218,453 (28.5%) $226,908 (5.7%) 0.00 20
    2020-12-01 $212,450 (21.4%) $235,915 (9.9%) 0.00 16
    2021-01-01 $265,000 (36.9%) $251,715 (16.4%) 0.00 13
    2021-02-01 $273,750 (37.2%) $266,623 (21.5%) 0.00 13
    2021-03-01 $253,748 (33.6%) $247,533 (4.8%) 0.00 12
    2021-04-01 $255,000 (27.8%) $272,504 (14.2%) 0.00 14
    2021-05-01 $275,000 (36.1%) $317,143 (38.7%) 0.00 13
    2021-06-01 $277,498 (38.0%) $305,449 (33.8%) 0.00 18
    2021-07-01 $289,255 (28.6%) $332,479 (45.5%) 0.00 20
    2021-08-01 $291,755 (25.2%) $347,383 (54.0%) 0.00 23
    2021-09-01 $304,814 (28.6%) $355,671 (52.2%) 0.00 30
    2021-10-01 $309,521 (29.4%) $362,562 (54.6%) 0.00 28
    2021-11-01 $296,255 (35.6%) $351,939 (55.1%) 0.00 33
    2021-12-01 $293,491 (38.2%) $361,240 (53.1%) 0.00 31
    2022-01-01 $324,543 (22.5%) $375,393 (49.1%) 0.00 23
    2022-02-01 $349,199 (27.6%) $377,960 (41.8%) 0.00 20
    2022-03-01 $348,245 (37.2%) $403,059 (62.8%) 0.00 18
    2022-04-01 $327,498 (28.4%) $386,210 (41.7%) 0.00 19
    2022-05-01 $308,000 (12.0%) $361,445 (14.0%) 0.00 27
    2022-06-01 $298,000 (7.4%) $352,852 (15.5%) 0.00 30
    2022-07-01 $310,000 (7.2%) $365,861 (10.0%) 0.00 35
    2022-08-01 $338,800 (16.1%) $362,690 (4.4%) 0.00 55
    2022-09-01 $338,800 (11.2%) $355,565 (0.0%) 0.00 56
    2022-10-01 $338,800 (9.5%) $358,303 (-1.2%) 0.00 55
    2022-11-01 $332,500 (12.2%) $355,018 (0.9%) 0.00 50
    2022-12-01 $338,800 (15.4%) $358,890 (-0.7%) 0.00 41
    2023-01-01 $338,800 (4.4%) $366,021 (-2.5%) 0.00 41
    2023-02-01 $349,650 (0.1%) $388,064 (2.7%) 0.00 43
    2023-03-01 $355,400 (2.1%) $385,027 (-4.5%) 0.00 43
    2023-04-01 $384,900 (17.5%) $400,501 (3.7%) 0.00 40
    2023-05-01 $378,725 (23.0%) $425,041 (17.6%) 0.00 40
    2023-06-01 $367,050 (23.2%) $417,972 (18.5%) 0.00 36
    2023-07-01 $362,000 (16.8%) $407,851 (11.5%) 0.00 39
    2023-08-01 $341,800 (0.9%) $390,124 (7.6%) 0.00 38
    2023-09-01 $339,000 (0.1%) $410,477 (15.4%) 0.00 43
    2023-10-01 $375,000 (10.7%) $426,763 (19.1%) 0.00 49
    2023-11-01 $365,000 (9.8%) $416,631 (17.4%) 0.00 51
    2023-12-01 $388,000 (14.5%) $438,371 (22.2%) 0.00 44
    2024-01-01 $388,000 (14.5%) $436,898 (19.4%) 0.00 42
    2024-02-01 $364,825 (4.3%) $400,461 (3.2%) 0.00 39
    2024-03-01 $359,650 (1.2%) $378,124 (-1.8%) 0.00 40
    2024-04-01 $353,225 (-8.2%) $355,146 (-11.3%) 0.00 45
    2024-05-01 $330,000 (-12.9%) $345,008 (-18.8%) 0.00 48
    2024-06-01 $330,000 (-10.1%) $359,858 (-13.9%) 0.00 45
    2024-07-01 $344,925 (-4.7%) $366,799 (-10.1%) 0.00 51
    2024-08-01 $335,000 (-2.0%) $361,817 (-7.3%) 0.00 58
    2024-09-01 $348,900 (2.9%) $361,524 (-11.9%) 0.00 59
    2024-10-01 $357,475 (-4.7%) $371,445 (-13.0%) 0.00 55
    2024-11-01 $367,495 (0.7%) $382,461 (-8.2%) 0.00 50
    2024-12-01 $358,749 (-7.5%) $396,579 (-9.5%) 0.00 44
    2025-01-01 $359,974 (-7.2%) $407,060 (-6.8%) 0.00 39
    2025-02-01 $362,250 (-0.7%) $420,175 (4.9%) 0.00 34
    2025-03-01 $369,000 (2.6%) $422,056 (11.6%) 0.00 33
    Othello's median listing price for 2025-03-01 was $369,000, a difference of $9,350 (2.6%) versus the prior year and $6,750 versus the prior month.

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

    Othello's average listing price for 2025-03-01 was $422,056, a difference of $43,932 (11.6%) versus the prior year and $1,881 versus the prior month.

    For the 2025-03-01 period, Othello had 33 MLS listings, a difference of -1 listings (-3%) versus the prior month and -7 listings (-18%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Othello (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,112 sqft
    2018-02-01 0 days 1,976 sqft
    2018-03-01 0 days 1,710 sqft
    2018-04-01 0 days 1,841 sqft
    2018-05-01 0 days 1,836 sqft
    2018-06-01 0 days 1,844 sqft
    2018-07-01 0 days 1,851 sqft
    2018-08-01 0 days 1,952 sqft
    2018-09-01 0 days 1,963 sqft
    2018-10-01 0 days 1,884 sqft
    2018-11-01 0 days 1,863 sqft
    2018-12-01 0 days 1,824 sqft
    2019-01-01 0 days 1,798 sqft
    2019-02-01 0 days 1,687 sqft
    2019-03-01 0 days 1,732 sqft
    2019-04-01 0 days 1,746 sqft
    2019-05-01 0 days 1,804 sqft
    2019-06-01 0 days 1,793 sqft
    2019-07-01 0 days 1,755 sqft
    2019-08-01 0 days 1,791 sqft
    2019-09-01 0 days 1,771 sqft
    2019-10-01 0 days 1,757 sqft
    2019-11-01 0 days 1,840 sqft
    2019-12-01 0 days 1,755 sqft
    2020-01-01 0 days 1,721 sqft
    2020-02-01 0 days 1,867 sqft
    2020-03-01 0 days 2,197 sqft
    2020-04-01 0 days 1,945 sqft
    2020-05-01 0 days 1,680 sqft
    2020-06-01 0 days 1,528 sqft
    2020-07-01 0 days 1,505 sqft
    2020-08-01 0 days 1,411 sqft
    2020-09-01 0 days 1,416 sqft
    2020-10-01 0 days 1,472 sqft
    2020-11-01 0 days 1,517 sqft
    2020-12-01 0 days 1,472 sqft
    2021-01-01 0 days 1,597 sqft
    2021-02-01 0 days 1,750 sqft
    2021-03-01 0 days 1,718 sqft
    2021-04-01 0 days 1,779 sqft
    2021-05-01 0 days 1,724 sqft
    2021-06-01 0 days 1,553 sqft
    2021-07-01 0 days 1,586 sqft
    2021-08-01 0 days 1,657 sqft
    2021-09-01 0 days 1,649 sqft
    2021-10-01 0 days 1,672 sqft
    2021-11-01 0 days 1,666 sqft
    2021-12-01 0 days 1,680 sqft
    2022-01-01 0 days 1,744 sqft
    2022-02-01 0 days 1,813 sqft
    2022-03-01 0 days 1,849 sqft
    2022-04-01 0 days 2,070 sqft
    2022-05-01 0 days 2,023 sqft
    2022-06-01 0 days 1,965 sqft
    2022-07-01 0 days 1,964 sqft
    2022-08-01 0 days 1,657 sqft
    2022-09-01 0 days 1,695 sqft
    2022-10-01 0 days 1,744 sqft
    2022-11-01 0 days 1,695 sqft
    2022-12-01 0 days 1,580 sqft
    2023-01-01 0 days 1,657 sqft
    2023-02-01 0 days 1,817 sqft
    2023-03-01 0 days 1,752 sqft
    2023-04-01 0 days 1,885 sqft
    2023-05-01 0 days 1,926 sqft
    2023-06-01 0 days 1,899 sqft
    2023-07-01 0 days 1,972 sqft
    2023-08-01 0 days 1,933 sqft
    2023-09-01 0 days 1,944 sqft
    2023-10-01 0 days 1,868 sqft
    2023-11-01 0 days 1,811 sqft
    2023-12-01 0 days 1,821 sqft
    2024-01-01 0 days 1,744 sqft
    2024-02-01 0 days 1,741 sqft
    2024-03-01 0 days 1,744 sqft
    2024-04-01 0 days 1,690 sqft
    2024-05-01 0 days 1,718 sqft
    2024-06-01 0 days 1,842 sqft
    2024-07-01 0 days 1,903 sqft
    2024-08-01 0 days 1,798 sqft
    2024-09-01 0 days 1,710 sqft
    2024-10-01 0 days 1,759 sqft
    2024-11-01 0 days 1,800 sqft
    2024-12-01 0 days 1,764 sqft
    2025-01-01 0 days 1,793 sqft
    2025-02-01 0 days 2,117 sqft
    2025-03-01 0 days 2,145 sqft
    Othello's median listing age (time on market) for 2025-03-01 was 0 days.

    Othello's median square footage for active listings during the 2025-03-01 period was 2,145 sqft. One year prior, the average listing was 1,744 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).