Oxnard FHA Loan Rates, Closing Costs & Stats

OXNARD-THOUSAND OAKS-VENTURA, 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.

Oxnard's 89 lenders originated 682 FHA loans during 2023. The total origination value was $413,220,000, with an average FHA loan value of $605,894.

Oxnard FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Oxnard averaged 6.78% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Oxnard's average FHA mortgage closing costs are $15,200.

The average rate for the prior week (2024-04-05) was 6.4% and one month ago for the week of 2024-03-08, the average rate was 6.54%.

The average rate one year ago was 6.27%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.74%.

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

Oxnard 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 Oxnard level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 125 6.02% $24,823
QUICKEN LOANS, LLC 56 6.02% $21,682
Golden Empire Mortgage, Inc. 23 6.46% $24,811
OCMBC, INC. 22 6.32% $22,797
LOANDEPOT.COM, LLC 16 6.20% $21,581
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.61% $24,251
DIGNIFIED HOME LOANS, LLC 13 6.16% $27,552
CMG MORTGAGE, INC. 12 6.79% $24,683
AUGUSTA FINANCIAL, INC. 11 6.07% $21,690
NEWREZ LLC 11 5.77% $23,772
PENNYMAC LOAN SERVICES, LLC 10 6.52% $26,140
FREEDOM MORTGAGE CORPORATION 9 6.43% $32,234
CUSTOMER SERVICE MORTGAGE CORPORATION 9 6.75% $20,731
DRAPER AND KRAMER MORTGAGE CORP. 9 6.29% $19,885
Nations Lending Corporation 8 6.98% $19,392
Paramount Residential Mortgage Group, Inc. 8 6.36% $24,384
MLD MORTGAGE INC. 8 6.44% $25,172
AXIA FINANCIAL, LLC 7 5.87% $29,155
HOMEAMERICAN MORTGAGE CORPORATION 7 5.29% $13,653
Flagstar Bank, FSB 7 6.59% $20,644
BECKAM FUNDING CORP. 7 7.03% $43,277
SUN WEST MORTGAGE COMPANY, INC. 7 6.29% $20,680
Prosperity Home Mortgage, LLC 6 6.00% $25,045
NATIONS DIRECT MORTGAGE, LLC 6 6.73% $23,000
Century Mortgage Company DBA Century Lending Company 6 6.08% $25,634
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 5 5.35% $18,810
Hometown Equity Mortgage, LLC 5 6.63% $24,227
MUTUAL OF OMAHA MORTGAGE, INC. 4 6.25% $20,876
GUARANTEED RATE, INC. 4 5.98% $19,582
PLAZA HOME MORTGAGE, INC. 4 6.31% $19,738
AMERICAN FINANCIAL NETWORK, INC. 4 6.28% $23,849
MOVEMENT MORTGAGE, LLC 4 6.84% $22,572
Shea Mortgage Inc. 4 6.19% $18,179
ML Mortgage Corp. 4 6.28% $29,822
RESIDENTIAL BANCORP 4 6.50% $32,325
Sierra Pacific Mortgage Company, Inc. 3 6.00% $28,349
Equity Prime Mortgage LLC 3 6.33% $24,507
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.50% $23,151
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.00% $23,095
AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.96% $25,378
Lakeview Community Capital, LLC 3 6.08% $18,888
BM Real Estate Services, Inc. 3 7.42% $30,083
BROKER SOLUTIONS, INC. 3 6.25% $29,414
CAMPOS FINANCIAL CORP. 3 6.08% $24,940
Mr. Cooper ( Nationstar Mortgage ) 3 6.63% $24,938
PENTAGON FEDERAL CREDIT UNION 2 6.25% $18,660
TOP FLITE FINANCIAL, INC. 2 7.00% $39,573
LEADERONE FINANCIAL CORPORATION 2 6.69% $22,939
ALAMEDA MORTGAGE CORPORATION 2 5.93% $26,134
LOANPAL, LLC 2 5.94% $26,769
MOUNTAIN WEST FINANCIAL, INC. 2 6.69% $20,401
BRIDGELOCK CAPITAL 2 6.37% $22,006
Carrington Mortgage Services, LLC 2 6.25% $39,316
GUARANTEED RATE AFFINITY, LLC 2 6.25% $25,431
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.06% $27,217
GUILD MORTGAGE COMPANY 2 6.63% $25,401
AMERISAVE MORTGAGE CORPORATION 2 5.25% $21,612
EAGLE HOME MORTGAGE, LLC 2 4.25% $33,969
Franklin Loan Corporation 2 5.88% $28,645
AHL FUNDING 2 6.25% $32,220
Watermark Capital, Inc. 1 5.00% $24,335
AMERICAN FINANCING CORPORATION 1 7.25% $19,593
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 5.63% $31,010
AmeriHome Mortgage Company, LLC 1 5.99% $16,971
Bank of England 1 6.13% $13,996
BMO Harris Bank 1 7.00% $15,991
Citibank 1 5.75% $10,459
Cornerstone First Mortgage, Inc 1 6.63% $28,219
CORNERSTONE HOME LENDING, INC. 1 6.25% $30,796
CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $31,117
DEL SUR CORPORATION 1 5.63% $28,753
ENVOY MORTGAGE, LTD 1 6.13% $27,816
EVERETT FINANCIAL, INC. 1 6.63% $28,132
JPMorgan Chase Bank 1 6.63% $18,044
MASON MCDUFFIE MORTGAGE CORPORATION 1 7.63% $17,648
MICHIGAN MUTUAL, INC. 1 7.13% $34,401
MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 6.63% $15,962
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $29,597
NexBank 1 6.25% $18,340
Northpointe Bank 1 6.00% $42,949
ON Q FINANCIAL, INC. 1 6.63% $17,307
Performance Financial, Inc. 1 5.25% $35,961
PLANET HOME LENDING, LLC 1 5.63% $16,700
SECURITYNATIONAL MORTGAGE COMPANY 1 6.75% $36,334
ST FIN CORP 1 6.75% $19,366
THE GOLDEN 1 1 5.63% $13,972
United Fidelity Funding Corp. 1 6.63% $30,445
VERITAS FUNDING, LLC 1 5.63% $43,301
WALL FINANCIAL, INC. 1 6.63% $20,949

The top Oxnard FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 125 FHA loans originated. Their average total fees are $24,823, which is $3,141 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Oxnard FHA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC ($21,581), QUICKEN LOANS, LLC ($21,682), AUGUSTA FINANCIAL, INC. ($21,690), OCMBC, INC. ($22,797) and NEWREZ LLC ($23,772).

The lowest rate Oxnard FHA lenders (with over 10 loans originated) are NEWREZ LLC (5.77%), QUICKEN LOANS, LLC (6.02%), UNITED WHOLESALE MORTGAGE, LLC (6.02%), AUGUSTA FINANCIAL, INC. (6.07%) and DIGNIFIED HOME LOANS, LLC (6.16%).

Oxnard FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
OXNARD-THOUSAND OAKS-VENTURA, CA VENTURA 2022 $851,000 $1,089,450 $1,316,900 $1,636,550
OXNARD-THOUSAND OAKS-VENTURA, CA VENTURA 2023 $948,750 $1,214,600 $1,468,150 $1,824,550

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Oxnard (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 $748,350 (5.4%) $1,408,395 (12.3%) 2.77 1,068
2018-02-01 $738,000 (-2.1%) $1,367,883 (4.6%) 2.68 1,155
2018-03-01 $729,900 (-4.6%) $1,328,219 (0.5%) 2.56 1,288
2018-04-01 $750,000 (-2.5%) $1,363,833 (2.9%) 2.54 1,411
2018-05-01 $741,725 (-2.2%) $1,322,529 (3.2%) 2.48 1,607
2018-06-01 $739,000 (-1.5%) $1,282,303 (2.7%) 2.46 1,759
2018-07-01 $739,450 (-2.1%) $1,249,036 (0.2%) 2.47 1,884
2018-08-01 $717,450 (-4.2%) $1,207,856 (-0.1%) 2.40 1,956
2018-09-01 $699,000 (-6.8%) $1,165,838 (-3.3%) 2.35 2,012
2018-10-01 $696,112 (-8.1%) $1,142,578 (-11.2%) 2.36 1,975
2018-11-01 $684,500 (-8.7%) $1,142,143 (-11.4%) 2.32 1,905
2018-12-01 $680,000 (-9.3%) $1,170,638 (-12.1%) 2.35 1,666
2019-01-01 $683,500 (-8.7%) $1,187,763 (-15.7%) 2.36 1,553
2019-02-01 $682,500 (-7.5%) $1,207,077 (-11.8%) 2.31 1,517
2019-03-01 $691,386 (-5.3%) $1,190,675 (-10.4%) 2.26 1,586
2019-04-01 $699,450 (-6.7%) $1,159,312 (-15.0%) 2.22 1,679
2019-05-01 $701,250 (-5.5%) $1,158,950 (-12.4%) 2.19 1,798
2019-06-01 $719,900 (-2.6%) $1,179,301 (-8.0%) 2.25 1,849
2019-07-01 $731,850 (-1.0%) $1,193,959 (-4.4%) 2.29 1,868
2019-08-01 $737,909 (2.9%) $1,180,203 (-2.3%) 2.34 1,788
2019-09-01 $749,773 (7.3%) $1,195,174 (2.5%) 2.40 1,658
2019-10-01 $753,182 (8.2%) $1,205,155 (5.5%) 2.43 1,571
2019-11-01 $725,000 (5.9%) $1,174,197 (2.8%) 2.38 1,531
2019-12-01 $757,500 (11.4%) $1,280,148 (9.4%) 2.53 1,219
2020-01-01 $783,213 (14.6%) $1,316,301 (10.8%) 2.62 1,138
2020-02-01 $795,000 (16.5%) $1,333,271 (10.5%) 2.60 1,126
2020-03-01 $812,238 (17.5%) $1,343,619 (12.9%) 2.55 1,143
2020-04-01 $772,475 (10.4%) $1,243,862 (7.3%) 2.42 1,227
2020-05-01 $792,500 (13.0%) $1,263,061 (9.0%) 2.41 1,322
2020-06-01 $811,225 (12.7%) $1,301,721 (10.4%) 2.39 1,206
2020-07-01 $827,000 (13.0%) $1,347,027 (12.8%) 2.40 1,086
2020-08-01 $829,000 (12.3%) $1,382,900 (17.2%) 2.38 955
2020-09-01 $849,000 (13.2%) $1,440,603 (20.5%) 2.43 875
2020-10-01 $824,500 (9.5%) $1,447,968 (20.2%) 2.36 901
2020-11-01 $799,000 (10.2%) $1,454,401 (23.9%) 2.34 768
2020-12-01 $819,450 (8.2%) $1,516,175 (18.4%) 2.44 609
2021-01-01 $825,450 (5.4%) $1,559,942 (18.5%) 2.46 513
2021-02-01 $879,450 (10.6%) $1,649,048 (23.7%) 2.56 486
2021-03-01 $854,450 (5.2%) $1,508,318 (12.3%) 2.42 517
2021-04-01 $870,000 (12.6%) $1,614,377 (29.8%) 2.35 522
2021-05-01 $869,000 (9.7%) $1,665,611 (31.9%) 2.31 557
2021-06-01 $864,500 (6.6%) $1,768,873 (35.9%) 2.28 622
2021-07-01 $879,900 (6.4%) $1,707,806 (26.8%) 2.32 692
2021-08-01 $849,000 (2.4%) $1,689,268 (22.2%) 2.26 719
2021-09-01 $864,375 (1.8%) $1,759,575 (22.1%) 2.31 710
2021-10-01 $869,000 (5.4%) $1,846,575 (27.5%) 2.32 647
2021-11-01 $885,225 (10.8%) $1,882,719 (29.5%) 2.37 530
2021-12-01 $894,500 (9.2%) $1,990,544 (31.3%) 2.42 429
2022-01-01 $898,900 (8.9%) $2,040,139 (30.8%) 2.43 378
2022-02-01 $895,950 (1.9%) $2,094,019 (27.0%) 2.33 385
2022-03-01 $928,536 (8.7%) $2,046,090 (35.7%) 2.32 445
2022-04-01 $899,900 (3.4%) $1,930,673 (19.6%) 2.15 500
2022-05-01 $914,825 (5.3%) $1,790,597 (7.5%) 2.09 720
2022-06-01 $929,210 (7.5%) $1,709,993 (-3.3%) 2.07 866
2022-07-01 $899,900 (2.3%) $1,538,329 (-9.9%) 2.03 1,106
2022-08-01 $892,500 (5.1%) $1,469,063 (-13.0%) 2.06 1,147
2022-09-01 $879,450 (1.7%) $1,463,340 (-16.8%) 2.06 1,077
2022-10-01 $859,999 (-1.0%) $1,462,341 (-20.8%) 2.02 1,055
2022-11-01 $875,000 (-1.2%) $1,545,311 (-17.9%) 2.10 1,003
2022-12-01 $871,000 (-2.6%) $1,617,338 (-18.8%) 2.15 835
2023-01-01 $873,725 (-2.8%) $1,698,414 (-16.8%) 2.16 708
2023-02-01 $932,500 (4.1%) $1,812,681 (-13.4%) 2.25 629
2023-03-01 $944,500 (1.7%) $2,020,304 (-1.3%) 2.23 598
2023-04-01 $985,000 (9.5%) $2,079,376 (7.7%) 2.29 571
2023-05-01 $1,076,408 (17.7%) $2,181,585 (21.8%) 2.44 578
2023-06-01 $1,018,627 (9.6%) $2,160,677 (26.4%) 2.29 618
2023-07-01 $1,075,000 (19.5%) $2,129,812 (38.5%) 2.44 666
2023-08-01 $1,021,225 (14.4%) $2,050,014 (39.6%) 2.35 684
2023-09-01 $1,092,500 (24.2%) $2,078,094 (42.0%) 2.54 688
2023-10-01 $1,050,000 (22.1%) $1,957,512 (33.9%) 2.47 735
2023-11-01 $1,037,222 (18.5%) $1,919,229 (24.2%) 2.47 756
2023-12-01 $1,049,000 (20.4%) $1,950,966 (20.6%) 2.56 666
2024-01-01 $1,057,000 (21.0%) $1,998,235 (17.7%) 2.58 626
2024-02-01 $1,095,750 (17.5%) $2,034,108 (12.2%) 2.64 626
2024-03-01 $1,065,000 (12.8%) $2,145,494 (6.2%) 2.51 679
Oxnard's median listing price for 2024-03-01 was $1,065,000, a difference of $120,500 (12.8%) versus the prior year and $-30,750 versus the prior month.

Oxnard's median listing price comes in at 251% of the national average.

Oxnard's average listing price for 2024-03-01 was $2,145,494, a difference of $125,190 (6.2%) versus the prior year and $111,386 versus the prior month.

For the 2024-03-01 period, Oxnard had 679 MLS listings, a difference of 53 listings (8%) versus the prior month and 81 listings (14%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Oxnard (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 62 days 2,064 sqft
2018-02-01 35 days 2,025 sqft
2018-03-01 35 days 2,025 sqft
2018-04-01 37 days 2,053 sqft
2018-05-01 36 days 2,031 sqft
2018-06-01 38 days 2,021 sqft
2018-07-01 41 days 2,031 sqft
2018-08-01 43 days 2,015 sqft
2018-09-01 44 days 1,979 sqft
2018-10-01 48 days 1,962 sqft
2018-11-01 51 days 1,953 sqft
2018-12-01 61 days 1,931 sqft
2019-01-01 67 days 1,895 sqft
2019-02-01 50 days 1,903 sqft
2019-03-01 43 days 1,913 sqft
2019-04-01 40 days 1,943 sqft
2019-05-01 40 days 2,000 sqft
2019-06-01 44 days 2,027 sqft
2019-07-01 45 days 2,047 sqft
2019-08-01 47 days 2,051 sqft
2019-09-01 48 days 2,067 sqft
2019-10-01 50 days 2,068 sqft
2019-11-01 53 days 1,972 sqft
2019-12-01 58 days 2,020 sqft
2020-01-01 63 days 2,099 sqft
2020-02-01 52 days 2,113 sqft
2020-03-01 41 days 2,134 sqft
2020-04-01 48 days 2,062 sqft
2020-05-01 59 days 2,084 sqft
2020-06-01 52 days 2,126 sqft
2020-07-01 45 days 2,144 sqft
2020-08-01 40 days 2,096 sqft
2020-09-01 42 days 2,103 sqft
2020-10-01 39 days 2,074 sqft
2020-11-01 52 days 2,002 sqft
2020-12-01 57 days 2,024 sqft
2021-01-01 54 days 2,021 sqft
2021-02-01 35 days 2,118 sqft
2021-03-01 28 days 2,036 sqft
2021-04-01 34 days 2,050 sqft
2021-05-01 33 days 2,007 sqft
2021-06-01 31 days 2,021 sqft
2021-07-01 35 days 1,978 sqft
2021-08-01 31 days 1,924 sqft
2021-09-01 34 days 1,958 sqft
2021-10-01 36 days 1,960 sqft
2021-11-01 40 days 1,963 sqft
2021-12-01 45 days 1,983 sqft
2022-01-01 40 days 1,952 sqft
2022-02-01 27 days 1,858 sqft
2022-03-01 27 days 1,877 sqft
2022-04-01 25 days 1,894 sqft
2022-05-01 25 days 1,920 sqft
2022-06-01 27 days 1,922 sqft
2022-07-01 33 days 1,900 sqft
2022-08-01 37 days 1,845 sqft
2022-09-01 46 days 1,840 sqft
2022-10-01 51 days 1,854 sqft
2022-11-01 53 days 1,839 sqft
2022-12-01 63 days 1,842 sqft
2023-01-01 67 days 1,858 sqft
2023-02-01 43 days 1,892 sqft
2023-03-01 42 days 1,880 sqft
2023-04-01 43 days 1,991 sqft
2023-05-01 39 days 2,025 sqft
2023-06-01 38 days 1,933 sqft
2023-07-01 38 days 1,962 sqft
2023-08-01 42 days 1,957 sqft
2023-09-01 42 days 1,988 sqft
2023-10-01 41 days 1,956 sqft
2023-11-01 44 days 1,940 sqft
2023-12-01 56 days 1,950 sqft
2024-01-01 60 days 1,946 sqft
2024-02-01 41 days 1,936 sqft
2024-03-01 37 days 1,936 sqft
Oxnard's median listing age (time on market) for 2024-03-01 was 37 days. This is -12% shorter than the same period one year ago.

Oxnard's median square footage for active listings during the 2024-03-01 period was 1,936 sqft. One year prior, the average listing was 1,880 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).