Pahrump FHA Loan Rates, Closing Costs & Stats

Pahrump, NV

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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.

    Pahrump's 78 lenders originated 338 FHA loans during 2023. The total origination value was $91,270,000, with an average FHA loan value of $270,030.

    Pahrump FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Pahrump averaged 6.57% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Pahrump's average FHA mortgage closing costs are $8,973.

    The average rate for the prior week (2024-11-01) was 6.15% and one month ago for the week of 2024-10-04, the average rate was 5.87%.

    The average rate one year ago was 7.41%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.53%.

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

    Pahrump 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 Pahrump level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    AXIA FINANCIAL, LLC 31 6.77% $10,854
    UNITED WHOLESALE MORTGAGE, LLC 25 6.40% $12,761
    LEADERONE FINANCIAL CORPORATION 17 6.51% $9,730
    QUICKEN LOANS, LLC 17 6.06% $12,295
    GUILD MORTGAGE COMPANY 17 6.98% $12,212
    LOANDEPOT.COM, LLC 16 6.68% $13,169
    DHI MORTGAGE COMPANY, LTD. 16 5.67% $9,511
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 7.13% $14,205
    SECURITYNATIONAL MORTGAGE COMPANY 6 7.27% $13,359
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 6 6.54% $11,876
    CARDINAL FINANCIAL 6 7.08% $14,029
    Century Mortgage Company DBA Century Lending Company 6 5.98% $12,168
    AMERICAN PACIFIC MORTGAGE CORPORATION 6 6.91% $14,695
    BROKER SOLUTIONS, INC. 6 6.89% $10,670
    PENNYMAC LOAN SERVICES, LLC 5 6.53% $11,407
    South Pacific Financial Corporation 5 6.03% $9,268
    HOMEAMERICAN MORTGAGE CORPORATION 4 6.16% $6,965
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 6.63% $13,302
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 4 6.59% $12,555
    FREEDOM MORTGAGE CORPORATION 4 6.94% $14,832
    FBC MORTGAGE, LLC 4 6.28% $17,956
    RESIDENTIAL BANCORP 4 6.34% $16,382
    CROSSCOUNTRY MORTGAGE, LLC 3 6.33% $13,343
    NEWREZ LLC 3 6.25% $11,725
    PINNACLE LENDING GROUP, INC. 3 6.99% $12,367
    Mr. Cooper ( Nationstar Mortgage ) 3 6.04% $19,363
    CASTLE & COOKE MORTGAGE, LLC 3 7.08% $13,320
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.58% $8,991
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.69% $11,895
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.69% $16,341
    OCMBC, INC. 2 6.50% $14,957
    ONE NEVADA CREDIT UNION 2 5.94% $8,856
    PACIFIC RESIDENTIAL MORTGAGE, LLC 2 7.06% $11,000
    PANORAMA MORTGAGE GROUP, LLC 2 6.38% $19,010
    Paramount Residential Mortgage Group, Inc. 2 7.44% $9,764
    PLANET HOME LENDING, LLC 2 6.63% $13,989
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.62% $17,377
    RMS & Associates 2 6.25% $13,751
    Sierra Pacific Mortgage Company, Inc. 2 6.56% $19,153
    SUN WEST MORTGAGE COMPANY, INC. 2 7.19% $13,460
    UNION HOME MORTGAGE CORP. 2 7.25% $10,592
    U.S. Bank 2 7.50% $10,642
    CALCON MUTUAL MORTGAGE LLC 2 7.50% $24,225
    GUARANTEED RATE, INC. 2 6.00% $11,051
    Ixonia Bank 2 7.50% $16,318
    LOANPAL, LLC 2 5.38% $14,304
    AMERICAN FINANCIAL NETWORK, INC. 2 7.00% $12,311
    MOVEMENT MORTGAGE, LLC 2 6.31% $12,617
    Equity Prime Mortgage LLC 2 6.81% $12,033
    LAND HOME FINANCIAL SERVICES, INC. 1 6.13% $15,698
    AMERICAN FINANCING CORPORATION 1 7.38% $8,626
    American Mortgage & Equity Consultants, Inc. 1 5.75% $10,029
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $10,822
    BAY EQUITY LLC 1 8.00% $20,348
    BELEM SERVICING LLC 1 7.13% $7,609
    BM Real Estate Services, Inc. 1 6.25% $12,162
    CHURCHILL MORTGAGE CORPORATION 1 5.75% $9,459
    CLARK COUNTY CREDIT UNION 1 5.88% $12,176
    DIRECT MORTGAGE LOANS, LLC 1 6.75% $15,672
    EVERETT FINANCIAL, INC. 1 6.00% $19,039
    First Option Mortgage, LLC 1 6.13% $13,011
    Flagstar Bank, FSB 1 7.13% $9,916
    GREATER NEVADA LLC 1 6.13% $13,533
    HighTechLending Inc 1 7.63% $9,888
    INTERCAP LENDING INC. 1 7.63% $15,325
    ISERVE RESIDENTIAL LENDING, LLC 1 7.00% $8,301
    AMERICA FIRST 1 7.13% $5,330
    MANN FINANCIAL INC. 1 7.00% $9,599
    MID AMERICA MORTGAGE, INC. 1 7.38% $11,500
    ML Mortgage Corp. 1 6.25% $20,534
    Nations Lending Corporation 1 6.13% $16,485
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.63% $13,213
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 7.13% $12,322
    SWBC MORTGAGE CORPORATION 1 7.25% $14,776
    TOP FLITE FINANCIAL, INC. 1 6.88% $9,042
    VILLAGE CAPITAL MORTGAGE 1 4.75% $12,477
    Wells Fargo Bank 1 6.63% $8,409
    ZILLOW HOME LOANS, LLC 1 6.75% $9,959

    The top Pahrump FHA lender as defined by loan originations is AXIA FINANCIAL, LLC, with 31 FHA loans originated. Their average total fees are $10,854, which is $1,907 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Pahrump FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($9,511), LEADERONE FINANCIAL CORPORATION ($9,730), AXIA FINANCIAL, LLC ($10,854), GUILD MORTGAGE COMPANY ($12,212) and QUICKEN LOANS, LLC ($12,295).

    The lowest rate Pahrump FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.67%), QUICKEN LOANS, LLC (6.06%), UNITED WHOLESALE MORTGAGE, LLC (6.40%), LEADERONE FINANCIAL CORPORATION (6.51%) and LOANDEPOT.COM, LLC (6.68%).

    Pahrump FHA Loan Limits

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

    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).