Portland FHA Loan Rates, Closing Costs & Stats

PORTLAND-VANCOUVER-HILLSBORO, OR-WA

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.

Portland's 174 lenders originated 4,624 FHA loans during 2022. The total origination value was $1,917,470,000, with an average FHA loan value of $414,678.

Portland FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Portland averaged 5.88% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

Portland's average FHA mortgage closing costs are $10,860.

The average rate for the prior week (2023-05-19) was 5.85% and one month ago for the week of 2023-04-21, the average rate was 5.89%.

The average rate one year ago was 4.81%.

For refis of the same type during the week of 2023-05-26, the average rate was 4.98%.

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

Portland 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 Portland level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 308 4.67% $14,313
GUILD MORTGAGE COMPANY 249 4.83% $16,425
CALIBER HOME LOANS, INC. 227 4.63% $13,899
QUICKEN LOANS, LLC 208 4.32% $16,013
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 207 5.07% $14,755
LOANDEPOT.COM, LLC 106 4.55% $14,236
ACADEMY MORTGAGE CORPORATION 98 4.95% $16,155
MORTGAGE EXPRESS, LLC 96 4.92% $13,779
FINANCE OF AMERICA MORTGAGE LLC 87 4.82% $15,087
NATIONS DIRECT MORTGAGE, LLC 87 4.31% $14,234
DIRECTORS MORTGAGE, INC. 78 5.24% $17,401
CARDINAL FINANCIAL 73 5.08% $16,957
PENNYMAC LOAN SERVICES, LLC 71 4.18% $12,818
HOME POINT FINANCIAL CORPORATION 66 4.18% $14,085
PACIFIC RESIDENTIAL MORTGAGE, LLC 61 4.79% $15,781
CMG MORTGAGE, INC. 55 4.69% $14,989
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 53 5.52% $16,899
HOMEBRIDGE FINANCIAL SERVICES, INC. 52 4.59% $14,426
Hometown Lenders, Inc. 51 5.05% $15,282
LAKEVIEW LOAN SERVICING, LLC 51 3.61% $8,587
OnPoint Community Credit Union 50 4.97% $12,450
Flagstar Bank, FSB 49 4.59% $14,597
Paramount Residential Mortgage Group, Inc. 49 4.98% $14,418
SUMMIT MORTGAGE CORPORATION 49 4.85% $14,571
DHI MORTGAGE COMPANY, LTD. 49 3.92% $10,502
Mr. Cooper ( Nationstar Mortgage ) 47 4.10% $16,309
CROSSCOUNTRY MORTGAGE, LLC 47 5.34% $15,792
FREEDOM MORTGAGE CORPORATION 46 4.31% $13,332
Willamette Valley Bank 45 4.73% $15,301
BROKER SOLUTIONS, INC. 39 5.12% $15,433
AMERICAN PACIFIC MORTGAGE CORPORATION 39 5.13% $15,002
Umpqua Bank 38 4.73% $14,455
GUARANTEED RATE, INC. 32 4.83% $13,632
AMERISAVE MORTGAGE CORPORATION 32 4.62% $14,250
CHURCHILL MORTGAGE CORPORATION 31 5.14% $16,300
EAGLE HOME MORTGAGE, LLC 26 5.29% $14,883
Carrington Mortgage Services, LLC 26 4.80% $16,487
Commerce Home Mortgage, Inc. 25 4.56% $14,541
PANORAMA MORTGAGE GROUP, LLC 23 5.08% $18,337
MOVEMENT MORTGAGE, LLC 23 5.03% $15,516
Gateway First Bank 23 5.33% $11,591
Sierra Pacific Mortgage Company, Inc. 23 3.90% $15,446
HomeStreet Bank 22 4.14% $14,928
GENEVA FINANCIAL, LLC 21 4.66% $16,331
Bank of England 20 5.23% $15,373
AMERICAN FINANCING CORPORATION 20 3.81% $13,188
MANN FINANCIAL INC. 19 5.03% $15,795
Nations Lending Corporation 16 4.80% $17,449
U.S. Bank 15 4.61% $14,360
S1L, Inc. 14 5.40% $15,852
NEWREZ LLC 14 4.80% $12,411
Equity Prime Mortgage LLC 13 5.12% $15,526
PLANET HOME LENDING, LLC 13 3.78% $12,953
PLAZA HOME MORTGAGE, INC. 12 4.45% $19,438
BAY EQUITY LLC 12 5.26% $13,726
PRIMARY RESIDENTIAL MORTGAGE, INC. 12 5.03% $17,056
PREMIER MORTGAGE RESOURCES, L.L.C. 11 4.66% $17,161
SUMMIT FUNDING, INC. 11 5.84% $16,493
Citizens Bank 11 4.30% $14,289
JPMorgan Chase Bank 11 5.02% $9,565
LEADERONE FINANCIAL CORPORATION 11 4.67% $14,185
HOME MORTGAGE ALLIANCE, LLC 10 5.16% $12,864
South Pacific Financial Corporation 10 4.86% $15,484
PRIORITY HOME LENDING, LLC 10 4.76% $16,098
LOANPAL, LLC 10 3.88% $19,509
SECURITYNATIONAL MORTGAGE COMPANY 10 5.48% $16,830
KeyBank 10 4.80% $14,487
NFM, INC. 9 5.21% $14,289
Summit Mortgage Corporation 9 5.86% $16,311
MID AMERICA MORTGAGE, INC. 9 4.96% $5,489
The Federal Savings Bank 9 4.11% $20,831
PRIMELENDING, A PLAINSCAPITAL COMPANY 8 5.33% $15,874
Golden Empire Mortgage, Inc. 8 4.83% $12,963
CANOPY MORTGAGE, LLC 8 5.01% $17,641
MUTUAL OF OMAHA MORTGAGE, INC. 8 4.98% $18,473
OCMBC, INC. 7 5.91% $18,499
PREMIER LENDING, INC. 7 4.79% $15,129
LPMC, LLC 7 4.52% $13,274
Northpointe Bank 7 4.91% $14,212
FIRST CENTENNIAL MORTGAGE CORPORATION 7 5.29% $14,383
CHERRY CREEK MORTGAGE, LLC 7 4.20% $9,751
AMCAP MORTGAGE, LTD. 7 4.38% $14,314
Cornerstone First Mortgage, Inc 7 4.77% $16,186
MORTGAGE SOLUTIONS OF COLORADO, LLC 6 4.81% $16,639
HOMEAMERICAN MORTGAGE CORPORATION 6 3.69% $10,733
RANLIFE, INC. 6 4.65% $15,946
EVERETT FINANCIAL, INC. 6 5.42% $10,480
Lakeview Community Capital, LLC 6 4.88% $13,483
ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 5.67% $14,382
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 6 5.85% $13,649
Banner Bank 6 3.73% $13,105
NETWORK CAPITAL FUNDING CORPORATION 6 4.81% $15,881
HOMESIDE FINANCIAL, LLC 5 3.85% $12,950
iCore Lending, Inc. 5 6.18% $23,003
SUN WEST MORTGAGE COMPANY, INC. 5 3.55% $8,442
AXIA FINANCIAL, LLC 5 6.18% $13,932
Loan Simple, Inc. 5 5.48% $16,425
MASON MCDUFFIE MORTGAGE CORPORATION 4 5.00% $14,546
V.I.P. MORTGAGE, INC. 4 4.88% $14,808
Mortgage Research Center, LLC 4 5.81% $13,747
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 4.56% $11,830
JLB CORPORATION 4 4.09% $12,413
Wells Fargo Bank 4 4.50% $8,720
SOUTHWEST FUNDING, LP 4 4.41% $15,350
1st Security Bank of Washington 3 4.83% $15,616
AMERICAN FINANCIAL RESOURCES, INC. 3 4.42% $14,642
Bank of America 3 5.25% $11,641
BAYSHORE MORTGAGE FUNDING, LLC 3 3.75% $16,928
BKCO MORTGAGE, LLC 3 5.21% $15,752
Century Mortgage Company DBA Century Lending Company 3 5.25% $11,665
First Internet Bank of Indiana 3 3.87% $12,347
M&T Bank 3 3.13% $10,175
NOVA FINANCIAL & INVESTMENT CORPORATION 3 3.66% $5,826
PREMIA MORTGAGE, LLC 3 4.50% $9,882
Strong Home Mortgage, LLC 3 4.63% $9,494
TruHome Solutions, LLC 3 2.96% $10,562
VERITAS FUNDING, LLC 3 3.50% $20,798
First Home Bank 2 5.06% $18,324
MORIA DEVELOPMENT, INC. 2 4.00% $19,426
Peoples Bank 2 4.94% $20,449
CORNERSTONE HOME LENDING, INC. 2 4.94% $22,142
Wyndham Capital Mortgage, Inc. 2 4.63% $17,152
Barrington Bank & Trust Company, N.A. 2 4.63% $20,059
Bank of the Pacific 2 4.44% $12,845
Hometown Equity Mortgage, LLC 2 4.00% $14,089
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 4.19% $13,280
ON Q FINANCIAL, INC. 2 5.13% $13,201
AmeriHome Mortgage Company, LLC 2 4.81% $14,384
MUFG Union Bank 2 3.25% $12,719
GSF Mortgage Corporation 2 5.50% $22,907
First Savings Bank 2 5.31% $18,973
MOUNTAIN WEST FINANCIAL, INC. 2 6.00% $15,240
Sunflower Bank 2 5.56% $13,351
First Guaranty Mortgage Corporation 1 3.88% $7,576
FAY SERVICING, LLC 1 6.75% $15,593
ENVOY MORTGAGE, LTD 1 4.88% $18,192
RELIANCE FIRST CAPITAL, LLC 1 5.63% $14,919
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 6.13% $14,734
EMM LOANS LLC 1 4.75% $31,928
SeaTrust Mortgage Company 1 6.63% $12,119
EMBRACE HOME LOANS, INC. 1 5.99% $17,779
Semper Home Loans, Inc. 1 3.75% $16,497
DRAPER AND KRAMER MORTGAGE CORP. 1 3.75% $14,206
Chickasaw Community Bank 1 3.13% $8,423
Alaska USA Mortgage Company LLC 1 6.50% $7,217
CALCON MUTUAL MORTGAGE LLC 1 7.63% $12,132
BNC National Bank 1 4.50% $16,224
BETTER MORTGAGE CORPORATION 1 4.99% $13,371
BEST CAPITAL FUNDING 1 5.13% $16,241
SWBC MORTGAGE CORPORATION 1 5.25% $22,223
Texana Bank 1 3.25% $12,303
BECKAM FUNDING CORP. 1 5.00% $25,060
AmRes Corporation 1 3.99% $13,941
ZILLOW HOME LOANS, LLC 1 5.00% $11,779
VILLAGE CAPITAL MORTGAGE 1 2.50% $7,116
NBH Bank 1 5.50% $4,475
NBKC BANK 1 4.75% $10,822
NEXERA HOLDING LLC 1 4.63% $5,118
MORTGAGE MASTER SERVICE CORPORATION 1 3.75% $12,690
NMSI, INC. 1 5.00% $14,055
MICHIGAN MUTUAL, INC. 1 5.63% $21,231
Watermark Capital, Inc. 1 6.25% $9,696
OAKTREE FUNDING CORP. 1 6.13% $24,778
LOANLEADERS OF AMERICA, INC. 1 3.13% $12,741
LIBERTY HOME MORTGAGE CORPORATION 1 5.63% $13,548
OPEN MORTGAGE, LLC 1 6.75% $19,670
LAND HOME FINANCIAL SERVICES, INC. 1 4.50% $15,614
LADERA LENDING, INC. 1 5.25% $15,343
KELLER MORTGAGE, LLC 1 4.00% $10,810
INTERCAP LENDING INC. 1 4.88% $11,534
PHH Mortgage Corporation 1 3.50% $9,508
Plains Commerce Bank 1 6.75% $14,382
INLAND BANK & TRUST 1 6.13% $16,688
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.13% $10,127

The top Portland FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 308 FHA loans originated. Their average total fees are $14,313, which is $2,111 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Portland FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($8,587), JPMorgan Chase Bank ($9,565), DHI MORTGAGE COMPANY, LTD. ($10,502), Gateway First Bank ($11,591) and NEWREZ LLC ($12,411).

The lowest rate Portland FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC (3.61%), PLANET HOME LENDING, LLC (3.78%), AMERICAN FINANCING CORPORATION (3.81%), LOANPAL, LLC (3.88%) and Sierra Pacific Mortgage Company, Inc. (3.90%).

Portland FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
PORTLAND-VANCOUVER-HILLSBORO, OR-WA CLACKAMAS 2022 $598,000 $765,550 $925,350 $1,150,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA COLUMBIA 2022 $598,000 $765,550 $925,350 $1,150,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA MULTNOMAH 2022 $598,000 $765,550 $925,350 $1,150,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA WASHINGTON 2022 $598,000 $765,550 $925,350 $1,150,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA YAMHILL 2022 $598,000 $765,550 $925,350 $1,150,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA CLARK 2022 $598,000 $765,550 $925,350 $1,150,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA SKAMANIA 2022 $598,000 $765,550 $925,350 $1,150,000
PORTLAND-VANCOUVER-HILLSBORO, OR-WA CLACKAMAS 2023 $672,750 $861,250 $1,041,050 $1,293,750
PORTLAND-VANCOUVER-HILLSBORO, OR-WA COLUMBIA 2023 $672,750 $861,250 $1,041,050 $1,293,750
PORTLAND-VANCOUVER-HILLSBORO, OR-WA MULTNOMAH 2023 $672,750 $861,250 $1,041,050 $1,293,750
PORTLAND-VANCOUVER-HILLSBORO, OR-WA WASHINGTON 2023 $672,750 $861,250 $1,041,050 $1,293,750
PORTLAND-VANCOUVER-HILLSBORO, OR-WA YAMHILL 2023 $672,750 $861,250 $1,041,050 $1,293,750
PORTLAND-VANCOUVER-HILLSBORO, OR-WA CLARK 2023 $672,750 $861,250 $1,041,050 $1,293,750
PORTLAND-VANCOUVER-HILLSBORO, OR-WA SKAMANIA 2023 $672,750 $861,250 $1,041,050 $1,293,750

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Portland (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 $475,000 (3.9%) $623,407 (3.6%) 1.76 4,657
2018-02-01 $482,450 (2.1%) $637,431 (4.0%) 1.75 4,461
2018-03-01 $495,000 (3.1%) $638,358 (2.1%) 1.74 4,776
2018-04-01 $499,000 (2.9%) $637,321 (1.7%) 1.69 5,397
2018-05-01 $499,450 (2.0%) $638,614 (1.6%) 1.67 6,285
2018-06-01 $495,000 (1.8%) $628,714 (1.6%) 1.65 7,150
2018-07-01 $482,500 (0.5%) $615,394 (1.5%) 1.61 8,120
2018-08-01 $478,100 (0.7%) $603,309 (0.9%) 1.60 8,643
2018-09-01 $469,960 (0.2%) $592,771 (0.3%) 1.58 8,970
2018-10-01 $469,575 (0.4%) $589,575 (-0.2%) 1.59 8,711
2018-11-01 $469,850 (0.0%) $592,584 (-0.9%) 1.59 8,086
2018-12-01 $469,900 (-1.1%) $600,478 (-2.0%) 1.62 6,959
2019-01-01 $472,425 (-0.5%) $602,934 (-3.3%) 1.63 6,177
2019-02-01 $477,000 (-1.1%) $611,563 (-4.1%) 1.61 6,030
2019-03-01 $475,000 (-4.0%) $601,211 (-5.8%) 1.58 6,240
2019-04-01 $475,350 (-4.7%) $603,693 (-5.3%) 1.51 6,851
2019-05-01 $478,050 (-4.3%) $604,266 (-5.4%) 1.49 7,404
2019-06-01 $479,000 (-3.2%) $600,952 (-4.4%) 1.50 8,318
2019-07-01 $474,950 (-1.6%) $598,452 (-2.8%) 1.49 8,610
2019-08-01 $480,000 (0.4%) $613,569 (1.7%) 1.50 8,500
2019-09-01 $484,963 (3.2%) $622,281 (5.0%) 1.53 7,489
2019-10-01 $464,500 (-1.1%) $590,408 (0.1%) 1.50 7,962
2019-11-01 $462,900 (-1.5%) $592,627 (0.0%) 1.52 6,951
2019-12-01 $465,950 (-0.8%) $597,078 (-0.6%) 1.55 5,662
2020-01-01 $471,000 (-0.3%) $609,065 (1.0%) 1.57 4,876
2020-02-01 $479,000 (0.4%) $615,565 (0.7%) 1.57 4,437
2020-03-01 $479,450 (0.9%) $620,112 (3.1%) 1.50 4,825
2020-04-01 $475,025 (-0.1%) $607,185 (0.6%) 1.49 5,684
2020-05-01 $487,998 (2.1%) $616,851 (2.1%) 1.48 5,753
2020-06-01 $499,000 (4.2%) $630,805 (5.0%) 1.47 5,377
2020-07-01 $499,900 (5.3%) $642,403 (7.3%) 1.45 5,135
2020-08-01 $499,950 (4.2%) $650,641 (6.0%) 1.43 5,060
2020-09-01 $499,975 (3.1%) $654,558 (5.2%) 1.43 4,749
2020-10-01 $510,000 (9.8%) $660,928 (11.9%) 1.46 4,500
2020-11-01 $512,500 (10.7%) $669,609 (13.0%) 1.50 3,849
2020-12-01 $507,500 (8.9%) $673,862 (12.9%) 1.51 2,960
2021-01-01 $499,900 (6.1%) $682,327 (12.0%) 1.49 2,487
2021-02-01 $502,595 (4.9%) $690,987 (12.3%) 1.46 2,244
2021-03-01 $511,950 (6.8%) $683,665 (10.3%) 1.45 2,404
2021-04-01 $525,000 (10.5%) $693,200 (14.2%) 1.42 2,637
2021-05-01 $549,900 (12.7%) $717,340 (16.3%) 1.46 2,851
2021-06-01 $554,950 (11.2%) $726,910 (15.2%) 1.46 3,337
2021-07-01 $555,000 (11.0%) $731,675 (13.9%) 1.46 3,759
2021-08-01 $550,000 (10.0%) $723,151 (11.1%) 1.47 3,854
2021-09-01 $550,000 (10.0%) $724,316 (10.7%) 1.47 3,997
2021-10-01 $550,000 (7.8%) $720,993 (9.1%) 1.47 3,910
2021-11-01 $550,000 (7.3%) $724,789 (8.2%) 1.47 3,128
2021-12-01 $549,250 (8.2%) $727,860 (8.0%) 1.49 2,379
2022-01-01 $550,000 (10.0%) $739,131 (8.3%) 1.49 1,837
2022-02-01 $561,700 (11.8%) $736,543 (6.6%) 1.46 1,926
2022-03-01 $574,375 (12.2%) $737,242 (7.8%) 1.44 2,145
2022-04-01 $585,000 (11.4%) $755,066 (8.9%) 1.39 2,347
2022-05-01 $597,450 (8.7%) $759,355 (5.9%) 1.37 3,418
2022-06-01 $599,995 (8.1%) $762,247 (4.9%) 1.34 4,393
2022-07-01 $599,000 (7.9%) $753,872 (3.0%) 1.35 5,654
2022-08-01 $590,374 (7.3%) $745,501 (3.1%) 1.36 5,815
2022-09-01 $589,900 (7.3%) $762,158 (5.2%) 1.38 5,842
2022-10-01 $579,900 (5.4%) $760,849 (5.5%) 1.36 5,856
2022-11-01 $582,480 (5.9%) $769,531 (6.2%) 1.40 5,514
2022-12-01 $589,900 (7.4%) $779,770 (7.1%) 1.46 4,559
2023-01-01 $597,450 (8.6%) $793,650 (7.4%) 1.48 3,813
2023-02-01 $607,050 (8.1%) $812,739 (10.3%) 1.46 3,395
2023-03-01 $614,500 (7.0%) $825,714 (12.0%) 1.45 3,388
2023-04-01 $629,000 (7.5%) $833,911 (10.4%) 1.46 3,546
Portland's median listing price for 2023-04-01 was $629,000, a difference of $44,000 (7.5%) versus the prior year and $14,500 versus the prior month.

Portland's median listing price comes in at 146% of the national average.

Portland's average listing price for 2023-04-01 was $833,911, a difference of $78,845 (10.4%) versus the prior year and $8,197 versus the prior month.

For the 2023-04-01 period, Portland had 3,546 MLS listings, a difference of 158 listings (5%) versus the prior month and 1,199 listings (51%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 65 days 2,265 sqft
2018-02-01 44 days 2,273 sqft
2018-03-01 36 days 2,265 sqft
2018-04-01 32 days 2,274 sqft
2018-05-01 31 days 2,275 sqft
2018-06-01 33 days 2,248 sqft
2018-07-01 37 days 2,216 sqft
2018-08-01 38 days 2,187 sqft
2018-09-01 45 days 2,156 sqft
2018-10-01 50 days 2,142 sqft
2018-11-01 57 days 2,149 sqft
2018-12-01 68 days 2,142 sqft
2019-01-01 70 days 2,136 sqft
2019-02-01 48 days 2,156 sqft
2019-03-01 42 days 2,129 sqft
2019-04-01 36 days 2,131 sqft
2019-05-01 33 days 2,140 sqft
2019-06-01 37 days 2,159 sqft
2019-07-01 41 days 2,149 sqft
2019-08-01 56 days 2,193 sqft
2019-09-01 63 days 2,207 sqft
2019-10-01 52 days 2,112 sqft
2019-11-01 64 days 2,099 sqft
2019-12-01 76 days 2,096 sqft
2020-01-01 77 days 2,110 sqft
2020-02-01 59 days 2,104 sqft
2020-03-01 44 days 2,095 sqft
2020-04-01 45 days 2,095 sqft
2020-05-01 56 days 2,106 sqft
2020-06-01 52 days 2,120 sqft
2020-07-01 44 days 2,107 sqft
2020-08-01 43 days 2,100 sqft
2020-09-01 51 days 2,079 sqft
2020-10-01 58 days 2,056 sqft
2020-11-01 65 days 2,048 sqft
2020-12-01 66 days 2,000 sqft
2021-01-01 53 days 1,942 sqft
2021-02-01 39 days 1,880 sqft
2021-03-01 33 days 1,904 sqft
2021-04-01 31 days 1,912 sqft
2021-05-01 31 days 1,948 sqft
2021-06-01 28 days 1,975 sqft
2021-07-01 35 days 1,976 sqft
2021-08-01 37 days 1,964 sqft
2021-09-01 43 days 1,961 sqft
2021-10-01 43 days 1,931 sqft
2021-11-01 52 days 1,907 sqft
2021-12-01 50 days 1,861 sqft
2022-01-01 61 days 1,852 sqft
2022-02-01 29 days 1,828 sqft
2022-03-01 28 days 1,834 sqft
2022-04-01 27 days 1,848 sqft
2022-05-01 24 days 1,928 sqft
2022-06-01 25 days 1,982 sqft
2022-07-01 30 days 2,000 sqft
2022-08-01 37 days 2,001 sqft
2022-09-01 44 days 1,995 sqft
2022-10-01 45 days 1,988 sqft
2022-11-01 52 days 1,995 sqft
2022-12-01 65 days 2,001 sqft
2023-01-01 72 days 2,020 sqft
2023-02-01 54 days 2,038 sqft
2023-03-01 45 days 2,042 sqft
2023-04-01 37 days 2,064 sqft
Portland's median listing age (time on market) for 2023-04-01 was 37 days. This is 37% longer than the same period one year ago.

Portland's median square footage for active listings during the 2023-04-01 period was 2,064 sqft. One year prior, the average listing was 1,848 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).