Payson FHA Loan Rates, Closing Costs & Stats

Payson, AZ

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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.

    Payson's 55 lenders originated 183 FHA loans during 2024. The total origination value was $47,505,000, with an average FHA loan value of $259,590.

    Payson FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Payson averaged 0.24% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Payson's average FHA mortgage closing costs are $8,675.

    The average rate for the prior week (2025-06-27) was 6.93% and one month ago for the week of 2025-05-30, the average rate was 6.7%.

    The average rate one year ago was 7.22%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.29%.

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

    Payson 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 Payson level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 20 6.02% $16,059
    SUN AMERICAN MORTGAGE COMPANY 13 6.52% $8,513
    QUICKEN LOANS, LLC 12 6.28% $12,555
    AMERICAN PACIFIC MORTGAGE CORPORATION 12 6.59% $12,804
    GENEVA FINANCIAL, LLC 9 6.78% $13,741
    GUILD MORTGAGE COMPANY 7 6.91% $13,856
    BROKER SOLUTIONS, INC. 5 6.30% $15,768
    AMERICAN FINANCIAL RESOURCES, INC. 4 6.56% $10,462
    FREEDOM MORTGAGE CORPORATION 4 6.47% $9,544
    PENNYMAC LOAN SERVICES, LLC 4 5.87% $11,522
    NEWREZ LLC 4 6.40% $8,662
    Equity Prime Mortgage LLC 4 6.47% $13,562
    CMG MORTGAGE, INC. 3 6.29% $10,912
    LOANDEPOT.COM, LLC 3 7.12% $11,567
    GUARANTEED RATE AFFINITY, LLC 3 6.25% $17,261
    MOVEMENT MORTGAGE, LLC 3 5.75% $13,701
    BAY EQUITY LLC 3 6.67% $11,862
    Flagstar Bank, FSB 3 5.86% $11,911
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.81% $15,113
    AMERISAVE MORTGAGE CORPORATION 2 6.94% $8,771
    SECURITYNATIONAL MORTGAGE COMPANY 2 7.19% $8,635
    Carrington Mortgage Services, LLC 2 5.81% $14,567
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.13% $16,453
    NORWICH COMMERCIAL GROUP, INC. 2 5.94% $10,821
    Plains Commerce Bank 2 6.88% $9,910
    TOP FLITE FINANCIAL, INC. 1 7.13% $8,373
    TOWNE MORTGAGE COMPANY 1 5.75% $15,619
    VILLAGE CAPITAL MORTGAGE 1 6.75% $2,088
    V.I.P. MORTGAGE, INC. 1 6.25% $11,958
    Wallick & Volk, Inc. 1 6.50% $5,477
    ZILLOW HOME LOANS, LLC 1 5.75% $11,473
    AMERICAN FINANCING CORPORATION 1 5.63% $17,667
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.49% $15,138
    Barrington Bank & Trust Company, N.A. 1 6.75% $5,777
    Century Mortgage Company DBA Century Lending Company 1 7.00% $15,419
    DIRECT MORTGAGE LOANS, LLC 1 5.38% $9,865
    EMM LOANS LLC 1 5.88% $16,332
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $14,066
    Franklin Loan Corporation 1 6.63% $9,999
    Hometown Equity Mortgage, LLC 1 5.63% $16,357
    LADERA LENDING, INC. 1 5.75% $13,762
    MORIA DEVELOPMENT, INC. 1 6.75% $16,180
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $8,390
    North American Savings Bank, F.S.B. 1 6.25% $12,928
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 6.49% $3,882
    OCEANSIDE MORTGAGE COMPANY 1 5.63% $3,619
    OCMBC, INC. 1 6.25% $15,855
    Paramount Residential Mortgage Group, Inc. 1 5.75% $5,562
    PLANET HOME LENDING, LLC 1 6.38% $6,071
    PLAZA HOME MORTGAGE, INC. 1 5.63% $13,198
    PREMIER LENDING, INC. 1 7.13% $8,356
    Prosperity Home Mortgage, LLC 1 6.75% $8,997
    RESIDENTIAL BANCORP 1 6.63% $11,501
    Sierra Pacific Mortgage Company, Inc. 1 6.13% $11,421
    The Loan Store, Inc. 1 6.75% $12,377

    The top Payson FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 20 FHA loans originated. Their average total fees are $16,059, which is $7,545 higher than the next largest lender, SUN AMERICAN MORTGAGE COMPANY.

    The lowest fee Payson FHA lenders (with over 10 loans originated) are SUN AMERICAN MORTGAGE COMPANY ($8,513), QUICKEN LOANS, LLC ($12,555), AMERICAN PACIFIC MORTGAGE CORPORATION ($12,804), UNITED WHOLESALE MORTGAGE, LLC ($16,059) and .

    The lowest rate Payson FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.02%), QUICKEN LOANS, LLC (6.28%), SUN AMERICAN MORTGAGE COMPANY (6.52%), AMERICAN PACIFIC MORTGAGE CORPORATION (6.59%) and .

    Payson FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    PAYSON, AZ GILA 2022 $420,680 $538,650 $651,050 $809,150
    PAYSON, AZ GILA 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).