Phoenix FHA Loans

PHOENIX-MESA-CHANDLER, AZ

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.

Phoenix's 283 lenders originated 30,803 FHA loans during 2021. The total origination value was $8,356,615,000, with an average FHA loan value of $271,292.

Phoenix FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Phoenix averaged 5.15% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

The average rate for the prior week (2022-05-06) was 5.19% and one month ago for the week of 2022-04-08, the average rate was 5.05%.

The average rate one year ago was 3.06%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.27%.

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

Phoenix FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Phoenix level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 1,908 2.62% $7,239
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1,657 3.45% $10,195
UNITED WHOLESALE MORTGAGE, LLC 1,229 2.70% $8,467
FREEDOM MORTGAGE CORPORATION 1,060 2.77% $5,477
NOVA FINANCIAL & INVESTMENT CORPORATION 1,048 3.44% $8,600
LAKEVIEW LOAN SERVICING, LLC 934 2.85% $5,079
Amerifirst Financial, Inc. 800 3.21% $8,787
LOANDEPOT.COM, LLC 790 3.31% $9,843
DHI MORTGAGE COMPANY, LTD. 569 3.09% $8,623
Mr. Cooper ( Nationstar Mortgage ) 540 3.17% $5,462
V.I.P. MORTGAGE, INC. 535 3.32% $9,910
CALIBER HOME LOANS, INC. 471 2.94% $7,528
PENNYMAC LOAN SERVICES, LLC 460 2.98% $5,698
GUILD MORTGAGE COMPANY 422 3.06% $8,606
SECURITYNATIONAL MORTGAGE COMPANY 415 3.75% $12,201
Lakeview Community Capital, LLC 396 2.89% $4,937
CROSSCOUNTRY MORTGAGE, LLC 349 3.21% $10,248
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 325 3.26% $9,807
MORIA DEVELOPMENT, INC. 316 3.43% $10,578
FINANCE OF AMERICA MORTGAGE LLC 294 3.25% $9,861
HOME POINT FINANCIAL CORPORATION 293 2.74% $8,026
NEWREZ LLC 270 2.94% $6,078
HOMEOWNERS FINANCIAL GROUP USA, LLC 265 3.24% $9,886
BROKER SOLUTIONS, INC. 264 3.21% $9,212
HOMEBRIDGE FINANCIAL SERVICES, INC. 264 2.62% $6,007
NFM, INC. 258 3.29% $10,785
Carrington Mortgage Services, LLC 249 3.40% $8,955
Paramount Residential Mortgage Group, Inc. 239 3.09% $8,189
ACADEMY MORTGAGE CORPORATION 224 3.31% $10,784
BAY EQUITY LLC 224 3.25% $10,102
AMERICAN FINANCIAL NETWORK, INC. 214 3.09% $10,858
GENEVA FINANCIAL, LLC 194 3.45% $10,988
EAGLE HOME MORTGAGE, LLC 192 3.32% $11,304
Neighborhood Loans, Inc. 183 3.42% $10,486
PRIMARY RESIDENTIAL MORTGAGE, INC. 178 3.49% $9,715
HOMEAMERICAN MORTGAGE CORPORATION 164 2.80% $5,751
VILLAGE CAPITAL & INVESTMENT LLC 156 2.85% $2,795
LHM FINANCIAL CORPORATION 150 3.04% $9,265
PULTE MORTGAGE LLC 146 3.10% $5,791
INSPIRE HOME LOANS INC. 144 3.33% $8,911
GUARANTEED RATE, INC. 144 3.08% $9,841
PRIMELENDING, A PLAINSCAPITAL COMPANY 141 3.30% $10,308
South Pacific Financial Corporation 136 2.73% $11,493
Waterstone Mortgage Corporation 136 3.18% $10,315
SUN WEST MORTGAGE COMPANY, INC. 135 2.91% $8,127
AMERICAN PACIFIC MORTGAGE CORPORATION 133 3.12% $9,890
AMERISAVE MORTGAGE CORPORATION 130 2.95% $9,019
NEW WEST LENDING, INC. 127 2.94% $8,805
AmeriHome Mortgage Company, LLC 118 2.85% $4,717
PLANET HOME LENDING, LLC 117 2.75% $6,009
Gateway First Bank 113 3.40% $9,028
Wallick & Volk, Inc. 112 3.59% $10,505
KBHS HOME LOANS, LLC 108 3.40% $10,573
First Guaranty Mortgage Corporation 108 2.82% $6,119
CMG MORTGAGE, INC. 104 3.08% $9,430
ON Q FINANCIAL, INC. 104 3.07% $10,472
Commerce Home Mortgage, Inc. 99 3.12% $9,163
ARK-LA-TEX FINANCIAL SERVICES, LLC. 98 3.41% $8,751
SUBURBAN MORTGAGE, INC. 95 3.03% $8,266
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 91 3.15% $10,213
ALL WESTERN MORTGAGE, INC. 90 3.47% $10,477
LOANPAL, LLC 88 2.60% $10,070
AMERICAN FINANCING CORPORATION 83 2.75% $8,285
LEADERONE FINANCIAL CORPORATION 83 3.32% $9,279
MOVEMENT MORTGAGE, LLC 80 3.29% $8,878
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 77 3.42% $9,575
MATTAMY HOME FUNDING, LLC 73 2.64% $11,524
Home Mortgage Alliance Corp 72 3.17% $11,453
ENVOY MORTGAGE, LTD 71 3.44% $9,749
InterContinental Capital Group, Inc 69 2.64% $7,335
SUMMIT FUNDING, INC. 63 3.39% $11,008
CITYWIDE HOME LOANS, LLC 61 3.12% $9,979
MID AMERICA MORTGAGE, INC. 58 3.03% $4,160
Equity Prime Mortgage LLC 57 3.41% $9,239
Flagstar Bank, FSB 57 2.81% $8,225
BROOKHOLLOW MORTGAGE SERVICES, LTD 56 3.15% $12,075
SWBC MORTGAGE CORPORATION 55 3.94% $9,500
CELEBRITY HOME LOANS, LLC 55 3.19% $10,749
PLAZA HOME MORTGAGE, INC. 50 2.79% $9,655
Nations Lending Corporation 48 3.29% $12,822
Hometown Lenders, Inc. 48 3.29% $10,496
Sunflower Bank 48 3.37% $10,094
MICHIGAN MUTUAL, INC. 47 3.52% $11,010
Lend Smart Mortgage, LLC 46 3.35% $9,321
Bell Bank 44 3.19% $9,173
SUNSTREET MORTGAGE, LLC 43 3.40% $8,838
STARBOARD FINANCIAL MANAGEMENT, LLC 42 3.18% $9,400
The Federal Savings Bank 41 2.82% $11,253
TOP FLITE FINANCIAL, INC. 39 3.34% $14,042
VELOCIO MORTGAGE L.L.C. 37 3.35% $13,825
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 36 3.02% $11,104
FBC MORTGAGE, LLC 35 3.08% $9,234
INTERCAP LENDING INC. 35 3.45% $11,186
BEST CAPITAL FUNDING 31 3.25% $9,895
PREMIER LENDING, INC. 31 3.28% $9,615
SOVEREIGN LENDING GROUP INCORPORATED 30 2.77% $9,393
STEARNS LENDING, LLC 29 2.99% $8,993
AMERICAN FINANCIAL RESOURCES, INC. 28 3.07% $8,002
TOWNE MORTGAGE COMPANY 27 3.06% $9,897
FIRST CENTENNIAL MORTGAGE CORPORATION 26 3.21% $8,917
SUN AMERICAN MORTGAGE COMPANY 26 3.17% $9,889
First Option Mortgage, LLC 26 3.37% $11,342
IDEAL HOME LOANS LLC 26 2.80% $9,468
ARC HOME LLC 26 2.88% $8,786
Utah Mortgage Loan Corporation 25 3.25% $9,200
NATIONS DIRECT MORTGAGE, LLC 24 3.28% $10,035
RESIDENTIAL BANCORP. 23 3.20% $8,818
UNION HOME MORTGAGE CORP. 22 2.88% $9,440
AXIA FINANCIAL, LLC 22 3.42% $10,160
MUTUAL OF OMAHA MORTGAGE, INC. 21 2.78% $8,958
LAND HOME FINANCIAL SERVICES, INC. 21 3.71% $12,413
GUARANTEED RATE AFFINITY, LLC 20 2.93% $9,377
INTERNATIONAL CITY MORTGAGE, INC. 20 3.62% $10,421
DATA MORTGAGE, INC. 19 3.93% $11,040
ML Mortgage Corp. 19 3.30% $9,644
OCEANSIDE MORTGAGE COMPANY 19 2.84% $3,700
GoPrime Mortgage, Inc. 19 3.66% $10,630
U.S. Bank 19 3.13% $7,577
Watermark Capital, Inc. 19 2.92% $8,442
CHERRY CREEK MORTGAGE, LLC 18 3.50% $4,831
Loan Simple, Inc. 17 3.32% $10,021
SOUTHWEST STAGE FUNDING, LLC 17 3.18% $4,848
First National Bank Texas 16 3.17% $9,395
CORNERSTONE HOME LENDING, INC. 16 3.44% $11,377
Austin Capital Bank SSB 16 3.44% $10,773
JPMorgan Chase Bank 16 2.98% $6,037
CANOPY MORTGAGE, LLC 16 2.35% $8,530
INTELLILOAN, INC. 15 2.86% $8,870
UNITED SECURITY FINANCIAL CORP 15 2.73% $6,517
HOMESIDE FINANCIAL, LLC 15 3.01% $10,327
CHURCHILL MORTGAGE CORPORATION 15 3.13% $9,904
LADERA LENDING, INC. 15 3.05% $7,527
DIRECTORS MORTGAGE, INC. 14 3.60% $11,977
AMCAP MORTGAGE, LTD. 14 3.43% $10,211
DIRECT MORTGAGE, CORP. 14 2.68% $13,865
MORTGAGE SOLUTIONS OF COLORADO, LLC 14 3.22% $11,410
PANORAMA MORTGAGE GROUP, LLC 14 3.31% $9,967
PHH Mortgage Corporation 14 3.06% $6,948
ZILLOW HOME LOANS, LLC 14 2.88% $8,177
Manufacturers and Traders Trust Company 13 3.13% $7,701
LOANLEADERS OF AMERICA, INC. 13 2.90% $11,563
ARIZONA 12 3.01% $7,536
BOKF 12 2.93% $9,813
VERITAS FUNDING, LLC 12 2.88% $11,207
ISERVE RESIDENTIAL LENDING, LLC 11 3.78% $10,730
KELLER MORTGAGE, LLC 11 2.68% $7,558
EVERETT FINANCIAL, INC. 11 3.61% $7,581
WESTERN EXPRESS LENDING 10 2.43% $7,892
OCMBC, INC. 10 3.20% $9,343
CLEARPATH LENDING 10 2.93% $5,457
Barrington Bank & Trust Company, N.A. 10 3.18% $9,286
DAS Acquisition Company, LLC 10 3.56% $8,969
NETWORK CAPITAL FUNDING CORPORATION 10 3.25% $10,212
Shea Mortgage Inc. 9 2.83% $6,241
Bank of America 9 2.89% $6,293
TJC Mortgage, Inc. 9 3.06% $8,070
Hometown Equity Mortgage, LLC 9 4.24% $11,333
MOUNTAIN WEST FINANCIAL, INC. 9 2.93% $10,034
Sierra Pacific Mortgage Company, Inc. 9 2.89% $9,451
Low VA Rates, LLC 8 2.95% $4,179
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 8 3.56% $9,536
MOUNTAIN AMERICA 8 2.81% $10,360
EMBRACE HOME LOANS, INC. 8 3.00% $9,070
Strong Home Mortgage, LLC 7 2.50% $6,623
First Home Bank 7 3.27% $12,833
ABSOLUTE HOME MORTGAGE CORPORATION 7 2.45% $7,212
PINNACLE LENDING GROUP, INC. 7 3.23% $10,579
SFMC, LP 7 3.18% $9,386
Franklin Loan Corporation 7 3.50% $12,099
BELEM SERVICING LLC 6 3.04% $8,348
RELIANCE FIRST CAPITAL, LLC 6 2.85% $11,549
PARKSIDE LENDING, LLC 6 2.75% $7,828
CITY FIRST MORTGAGE SERVICES, L.L.C. 6 3.23% $9,445
Bank of England 6 3.19% $11,470
PACIFIC RESIDENTIAL MORTGAGE, LLC 6 3.75% $10,743
Prime Choice Funding Inc. 6 2.81% $8,625
INTERLINC MORTGAGE SERVICES, LLC 6 3.33% $9,144
ALTITUDE FINANCIAL CORPORATION 6 3.33% $7,634
KS StateBank 5 2.80% $8,257
Goldwater Bank, N.A. 5 3.48% $10,862
Chickasaw Community Bank 5 2.73% $8,153
Financial Funding Solutions, Inc. 5 2.87% $8,609
LENDUS, LLC 5 2.95% $9,057
Alaska USA Federal Credit Union 5 3.03% $7,567
Mortgage Research Center, LLC 4 3.15% $8,051
OPEN MORTGAGE, LLC 4 3.00% $7,682
MLD MORTGAGE INC. 4 3.21% $8,591
Plains Commerce Bank 4 3.16% $10,140
Network Funding, L.P. 4 2.81% $8,950
Peoples Bank 4 3.53% $13,055
EMM LOANS LLC 4 3.44% $11,190
S1L, Inc. 4 3.44% $9,662
MANN FINANCIAL INC. 3 3.08% $11,047
RESIDENTIAL WHOLESALE MORTGAGE, INC. 3 2.79% $8,933
AMERICAN PORTFOLIO MORTGAGE CORPORATION 3 3.17% $8,297
Wyndham Capital Mortgage, Inc. 3 2.92% $9,993
Prosperity Home Mortgage, LLC 3 3.33% $8,189
SUCCESS MORTGAGE PARTNERS, INC. 3 4.08% $12,765
HUNT MORTGAGE CORPORATION 3 3.58% $7,927
First Western Trust Bank 3 2.71% $9,452
Century Mortgage Company DBA Century Lending Company 3 2.96% $11,892
BAYSHORE MORTGAGE FUNDING, LLC 3 2.83% $7,254
THRIVE MORTGAGE, LLC 3 3.42% $8,670
FirstBank 3 3.04% $9,383
NEXERA HOLDING LLC 3 2.71% $7,869
Wells Fargo Bank 3 3.46% $6,456
Northpointe Bank 3 2.63% $11,026
INLAND BANK & TRUST 3 3.67% $9,351
North American Savings Bank, F.S.B. 2 2.25% $5,798
LIBERTY HOME MORTGAGE CORPORATION 2 3.75% $14,218
GSF Mortgage Corporation 2 2.56% $9,904
Magnolia Bank 2 3.31% $10,903
MEGA CAPITAL FUNDING, INC. 2 2.38% $8,301
Golden Empire Mortgage, Inc. 2 3.19% $11,927
MUFG Union Bank 2 3.19% $8,361
NEW DAY FINANCIAL, LLC 2 3.12% $10,029
Evolve Bank & Trust 2 2.88% $7,412
ONY GLO, INC. 2 2.88% $10,480
Paramount Bank 2 2.50% $9,601
COUNTRYPLACE MORTGAGE, LTD. 2 3.75% $12,537
PREMIER MORTGAGE RESOURCES, L.L.C. 2 3.75% $11,169
Colten Mortgage, LLC 2 2.63% $4,788
ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 3.31% $7,906
CALCULATED RISK ANALYTICS LLC 2 3.25% $9,333
BNC National Bank 2 3.00% $8,728
BETTER MORTGAGE CORPORATION 2 2.88% $9,594
BECKAM FUNDING CORP. 2 3.31% $10,461
BBVA USA 2 3.56% $7,326
Texana Bank 2 2.88% $11,066
The Union Bank Company 2 2.56% $6,767
Bank of the West 2 3.50% $8,467
UNITED MORTGAGE CORP. 2 2.75% $6,879
Victorian Finance, LLC 2 2.69% $9,205
VISION ONE MORTGAGE, INC. 2 2.81% $6,037
ALAMEDA MORTGAGE CORPORATION 2 2.50% $8,263
Academy Bank 2 3.00% $8,947
JMAC LENDING, INC. 2 3.00% $6,884
Citizens Bank 1 3.00% $16,271
FIRST COLONY MORTGAGE CORPORATION 1 3.00% $10,837
NBKC BANK 1 2.50% $8,313
SRE MORTGAGE ALLIANCE INC. 1 2.75% $7,101
CENTENNIAL LENDING, LLC 1 3.75% $13,372
AMERICA FIRST 1 2.50% $7,584
Stifel Bank and Trust 1 2.38% $5,161
NBH Bank 1 2.63% $11,114
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.25% $13,956
FIRST COMMUNITY MORTGAGE, INC. 1 2.38% $9,359
HighTechLending Inc 1 3.13% $8,532
IDAHO CENTRAL 1 2.75% $13,169
First Savings Bank 1 2.75% $6,672
HOMESTEAD FUNDING CORP. 1 2.88% $10,707
LENOX FINANCIAL MORTGAGE CORPORATION 1 3.63% $9,170
FISHER FINANCIAL GROUP, INCORPORATED 1 3.38% $6,753
JMJ FINANCIAL GROUP 1 3.63% $12,911
THE ANDERSON FINANCIAL GROUP, INC. 1 2.88% $10,314
Florida Capital Bank 1 2.50% $13,215
The Home Loan Expert LLC 1 2.75% $5,510
KINECTA 1 3.13% $7,459
FM Home Loans, LLC 1 2.75% $11,629
MidFirst Bank 1 2.50% $5,220
JAMES B. NUTTER & COMPANY 1 2.63% $3,905
Mid-Continent Funding, Inc. 1 2.88% $10,008
Umpqua Bank 1 2.88% $10,863
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 2.88% $11,098
HomeStreet Bank 1 3.00% $9,980
MASON MCDUFFIE MORTGAGE CORPORATION 1 3.25% $7,403
AmRes Corporation 1 2.75% $7,824
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 4.38% $12,417
Princeton Mortgage Corporation 1 2.88% $14,039
Colonial Savings, F.A. 1 3.75% $9,404
COMPASS MORTGAGE, INC. 1 3.13% $8,104
PREMIA MORTGAGE, LLC 1 2.50% $5,782
1st Security Bank of Washington 1 2.75% $10,051
DRAPER AND KRAMER MORTGAGE CORP. 1 2.63% $4,033
AMERICAN ADVISORS GROUP 1 3.00% $9,461
ROYAL UNITED MORTGAGE LLC 1 3.63% $10,185
Willamette Valley Bank 1 2.75% $9,730
Citizens Bank of Las Cruces 1 2.63% $10,210
Opportunity Bank of Montana 1 2.88% $11,639
NP, Inc. 1 2.88% $9,293
NEST HOME LENDING, LLC 1 3.25% $10,152
SIRVA MORTGAGE, INC. 1 3.63% $9,450
SIWELL, INC. 1 3.75% $10,190

The top Phoenix FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,908 FHA loans originated. Their average total fees are $7,239, which is $2,956 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Phoenix FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,795), OCEANSIDE MORTGAGE COMPANY ($3,700), MID AMERICA MORTGAGE, INC. ($4,160), AmeriHome Mortgage Company, LLC ($4,717) and CHERRY CREEK MORTGAGE, LLC ($4,831).

The lowest rate Phoenix FHA lenders (with over 10 loans originated) are CANOPY MORTGAGE, LLC (2.35%), WESTERN EXPRESS LENDING (2.43%), LOANPAL, LLC (2.60%), HOMEBRIDGE FINANCIAL SERVICES, INC. (2.62%) and QUICKEN LOANS, LLC (2.62%).

Phoenix FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
PHOENIX-MESA-CHANDLER, AZ MARICOPA 2022 $441,600 $565,300 $683,350 $849,250
PHOENIX-MESA-CHANDLER, AZ PINAL 2022 $441,600 $565,300 $683,350 $849,250

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Phoenix (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 $339,934 (6.2%) $584,601 (9.4%) 1.25 15,925
2018-02-01 $350,000 (7.0%) $598,463 (9.3%) 1.26 15,813
2018-03-01 $364,990 (8.3%) $616,768 (10.1%) 1.26 15,534
2018-04-01 $364,950 (5.0%) $617,477 (8.4%) 1.22 15,474
2018-05-01 $366,200 (4.9%) $610,590 (7.3%) 1.22 14,905
2018-06-01 $359,900 (5.9%) $592,644 (6.0%) 1.20 14,461
2018-07-01 $349,950 (4.5%) $563,850 (4.9%) 1.17 14,142
2018-08-01 $345,788 (4.8%) $550,669 (4.2%) 1.16 14,406
2018-09-01 $345,000 (4.6%) $549,912 (3.4%) 1.15 14,642
2018-10-01 $341,495 (3.5%) $553,817 (2.2%) 1.14 16,047
2018-11-01 $344,266 (4.0%) $571,404 (3.2%) 1.15 16,949
2018-12-01 $345,000 (3.0%) $579,346 (1.5%) 1.18 16,681
2019-01-01 $349,394 (2.8%) $587,862 (0.6%) 1.20 17,147
2019-02-01 $350,000 (0.0%) $592,635 (-1.0%) 1.17 17,747
2019-03-01 $362,549 (-0.7%) $606,703 (-1.6%) 1.18 17,305
2019-04-01 $373,148 (2.3%) $620,028 (0.4%) 1.18 16,698
2019-05-01 $376,232 (2.7%) $624,486 (2.3%) 1.16 15,773
2019-06-01 $384,900 (7.0%) $632,398 (6.7%) 1.18 14,485
2019-07-01 $386,187 (10.4%) $631,246 (12.0%) 1.20 13,120
2019-08-01 $391,871 (13.3%) $638,897 (16.0%) 1.23 12,038
2019-09-01 $391,921 (13.6%) $646,918 (17.6%) 1.24 11,637
2019-10-01 $386,524 (13.2%) $643,973 (16.3%) 1.23 12,860
2019-11-01 $385,000 (11.8%) $650,914 (13.9%) 1.24 12,888
2019-12-01 $384,950 (11.6%) $664,974 (14.8%) 1.28 11,871
2020-01-01 $396,495 (13.5%) $687,469 (16.9%) 1.32 11,100
2020-02-01 $400,000 (14.3%) $704,637 (18.9%) 1.29 10,195
2020-03-01 $405,000 (11.7%) $705,399 (16.3%) 1.27 9,973
2020-04-01 $376,722 (1.0%) $625,646 (0.9%) 1.17 12,571
2020-05-01 $385,000 (2.3%) $646,451 (3.5%) 1.17 11,760
2020-06-01 $434,900 (13.0%) $753,424 (19.1%) 1.27 8,679
2020-07-01 $449,990 (16.5%) $790,776 (25.3%) 1.29 7,248
2020-08-01 $449,000 (14.6%) $786,379 (23.1%) 1.28 7,026
2020-09-01 $441,500 (12.7%) $784,602 (21.3%) 1.26 7,205
2020-10-01 $439,990 (13.8%) $780,797 (21.3%) 1.26 7,498
2020-11-01 $417,500 (8.4%) $749,310 (15.1%) 1.20 7,186
2020-12-01 $412,500 (7.2%) $739,618 (11.2%) 1.21 6,003
2021-01-01 $414,900 (4.6%) $781,943 (13.7%) 1.22 5,047
2021-02-01 $418,500 (4.6%) $806,112 (14.4%) 1.20 3,809
2021-03-01 $420,000 (3.7%) $807,496 (14.5%) 1.18 3,810
2021-04-01 $432,400 (14.8%) $815,315 (30.3%) 1.16 4,045
2021-05-01 $450,000 (16.9%) $823,620 (27.4%) 1.18 4,160
2021-06-01 $464,950 (6.9%) $810,420 (7.6%) 1.21 4,718
2021-07-01 $472,500 (5.0%) $790,309 (-0.1%) 1.23 5,449
2021-08-01 $475,000 (5.8%) $757,157 (-3.7%) 1.25 5,857
2021-09-01 $475,000 (7.6%) $753,167 (-4.0%) 1.25 6,113
2021-10-01 $485,000 (10.2%) $760,316 (-2.6%) 1.28 6,283
2021-11-01 $484,731 (16.1%) $769,681 (2.7%) 1.28 6,129
2021-12-01 $486,000 (17.8%) $774,932 (4.8%) 1.30 5,483
2022-01-01 $495,000 (19.3%) $804,557 (2.9%) 1.32 4,533
2022-02-01 $499,900 (19.5%) $847,843 (5.2%) 1.27 3,970
2022-03-01 $501,500 (19.4%) $869,310 (7.7%) 1.24 3,900
2022-04-01 $525,000 (21.4%) $880,312 (8.0%) 1.24 4,452
Phoenix's median listing price for 2022-04-01 was $525,000, a difference of $92,600 (21.4%) versus the prior year and $23,500 versus the prior month.

Phoenix's median listing price comes in at 124% of the national average.

Phoenix's average listing price for 2022-04-01 was $880,312, a difference of $64,997 (8.0%) versus the prior year and $11,002 versus the prior month.

For the 2022-04-01 period, Phoenix had 4,452 MLS listings, a difference of 552 listings (14%) versus the prior month and 407 listings (10%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Phoenix (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 64 days 2,157 sqft
2018-02-01 50 days 2,193 sqft
2018-03-01 46 days 2,249 sqft
2018-04-01 46 days 2,248 sqft
2018-05-01 46 days 2,254 sqft
2018-06-01 48 days 2,223 sqft
2018-07-01 49 days 2,183 sqft
2018-08-01 49 days 2,161 sqft
2018-09-01 48 days 2,156 sqft
2018-10-01 45 days 2,139 sqft
2018-11-01 46 days 2,142 sqft
2018-12-01 55 days 2,133 sqft
2019-01-01 63 days 2,129 sqft
2019-02-01 52 days 2,140 sqft
2019-03-01 50 days 2,181 sqft
2019-04-01 49 days 2,223 sqft
2019-05-01 50 days 2,227 sqft
2019-06-01 52 days 2,250 sqft
2019-07-01 55 days 2,268 sqft
2019-08-01 57 days 2,284 sqft
2019-09-01 49 days 2,292 sqft
2019-10-01 43 days 2,242 sqft
2019-11-01 45 days 2,224 sqft
2019-12-01 55 days 2,210 sqft
2020-01-01 63 days 2,220 sqft
2020-02-01 49 days 2,229 sqft
2020-03-01 43 days 2,215 sqft
2020-04-01 38 days 2,104 sqft
2020-05-01 51 days 2,124 sqft
2020-06-01 60 days 2,231 sqft
2020-07-01 49 days 2,219 sqft
2020-08-01 36 days 2,183 sqft
2020-09-01 32 days 2,141 sqft
2020-10-01 31 days 2,126 sqft
2020-11-01 38 days 2,033 sqft
2020-12-01 43 days 2,000 sqft
2021-01-01 45 days 2,002 sqft
2021-02-01 36 days 1,993 sqft
2021-03-01 32 days 1,989 sqft
2021-04-01 31 days 1,989 sqft
2021-05-01 30 days 2,002 sqft
2021-06-01 29 days 1,999 sqft
2021-07-01 29 days 2,001 sqft
2021-08-01 30 days 2,008 sqft
2021-09-01 32 days 1,995 sqft
2021-10-01 32 days 2,007 sqft
2021-11-01 35 days 2,012 sqft
2021-12-01 38 days 1,996 sqft
2022-01-01 40 days 1,990 sqft
2022-02-01 33 days 1,972 sqft
2022-03-01 30 days 1,949 sqft
2022-04-01 27 days 1,975 sqft
Phoenix's median listing age (time on market) for 2022-04-01 was 27 days. This is -11% shorter than the same period one year ago.

Phoenix's median square footage for active listings during the 2022-04-01 period was 1,975 sqft. One year prior, the average listing was 1,989 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).