Port Angeles FHA Loan Rates, Closing Costs & Stats

Port Angeles, 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.

    Port Angeles's 41 lenders originated 160 FHA loans during 2024. The total origination value was $57,770,000, with an average FHA loan value of $361,063.

    Port Angeles FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Port Angeles averaged 0.31% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Port Angeles's average FHA mortgage closing costs are $9,872.

    The average rate for the prior week (2025-06-13) was 6.7% and one month ago for the week of 2025-05-16, the average rate was 6.66%.

    The average rate one year ago was 7.21%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.37%.

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

    Port Angeles 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 Port Angeles level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 14 6.07% $14,622
    CROSSCOUNTRY MORTGAGE, LLC 13 6.66% $14,639
    QUICKEN LOANS, LLC 13 6.31% $15,182
    CARDINAL FINANCIAL 11 7.01% $12,411
    NEWREZ LLC 10 6.43% $14,026
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 7 6.77% $12,127
    CANOPY MORTGAGE, LLC 7 6.79% $14,643
    PENNYMAC LOAN SERVICES, LLC 4 6.00% $7,251
    MOVEMENT MORTGAGE, LLC 4 6.44% $10,441
    AMERICAN FINANCIAL NETWORK, INC. 3 6.67% $18,580
    BROKER SOLUTIONS, INC. 3 6.83% $15,341
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 3 6.63% $13,535
    HOMESIDE FINANCIAL, LLC 3 6.33% $13,365
    Paramount Residential Mortgage Group, Inc. 3 6.58% $11,312
    Wallick & Volk, Inc. 3 6.96% $9,296
    FREEDOM MORTGAGE CORPORATION 2 6.38% $7,527
    KeyBank 2 5.50% $14,008
    LOANDEPOT.COM, LLC 2 5.69% $12,717
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.75% $17,362
    Servion, Inc. 2 6.00% $14,397
    Flagstar Bank, FSB 2 6.71% $12,951
    MEMBER FIRST MORTGAGE, LLC 1 6.00% $17,017
    MID AMERICA MORTGAGE, INC. 1 6.25% $6,171
    CMG MORTGAGE, INC. 1 5.63% $19,936
    Nations Lending Corporation 1 7.13% $9,545
    BETTER MORTGAGE CORPORATION 1 5.75% $13,017
    WASHINGTON STATE EMPLOYEES Credit Union 1 6.25% $10,726
    BAY EQUITY LLC 1 6.75% $19,738
    Plains Commerce Bank 1 5.63% $16,075
    Equity Prime Mortgage LLC 1 7.00% $14,610
    AXIA FINANCIAL, LLC 1 6.75% $13,966
    VILLAGE CAPITAL MORTGAGE 1 5.99% $7,424
    T2 FINANCIAL LLC 1 7.25% $11,384
    The Loan Store, Inc. 1 6.13% $11,954
    TJC Mortgage, Inc. 1 6.13% $25,419
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.63% $23,822
    Cornerstone First Mortgage, Inc 1 6.63% $20,197
    ZILLOW HOME LOANS, LLC 1 6.75% $8,969
    HomeStreet Bank 1 6.13% $10,871
    U.S. Bank 1 6.25% $6,673
    CORNERSTONE HOME LENDING, INC. 1 6.75% $17,547

    The top Port Angeles FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 14 FHA loans originated. Their average total fees are $14,622, which is $17 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Port Angeles FHA lenders (with over 10 loans originated) are CARDINAL FINANCIAL ($12,411), NEWREZ LLC ($14,026), UNITED WHOLESALE MORTGAGE, LLC ($14,622), CROSSCOUNTRY MORTGAGE, LLC ($14,639) and QUICKEN LOANS, LLC ($15,182).

    The lowest rate Port Angeles FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.07%), QUICKEN LOANS, LLC (6.31%), NEWREZ LLC (6.43%), CROSSCOUNTRY MORTGAGE, LLC (6.66%) and CARDINAL FINANCIAL (7.01%).

    Port Angeles FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    PORT ANGELES, WA CLALLAM 2022 $420,680 $538,650 $651,050 $809,150
    PORT ANGELES, WA CLALLAM 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).