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 161 lenders originated 3,653 FHA loans during 2023. The total origination value was $1,552,725,000, with an average FHA loan value of $425,055.
Portland FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Portland
averaged
0.02%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Portland's average FHA mortgage closing costs are $11,472.
The average rate for the prior week (2024-11-22) was
6.31% and
one month ago for the week of 2024-10-25, the
average rate was 6.29%.
The average rate one year ago was 7.18%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.37%.
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.
The top Portland FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
438 FHA loans originated. Their average total fees are
$17,715, which is $118
lower than the next largest lender,
GUILD MORTGAGE COMPANY.
The lowest fee Portland FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($11,354), HOMEAMERICAN MORTGAGE CORPORATION ($12,132), OnPoint Community Credit Union ($12,310), South Pacific Financial Corporation ($14,202) and CALIBER HOME LOANS, INC. ($14,321).
The lowest rate Portland FHA lenders (with over 10 loans originated) are
South Pacific Financial Corporation (5.38%), HOMEAMERICAN MORTGAGE CORPORATION (5.49%), PRIORITY HOME LENDING, LLC (5.54%), DHI MORTGAGE COMPANY, LTD. (5.79%) and AMERISAVE MORTGAGE CORPORATION (5.82%).
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $476,538 (4.2%) | $624,738 (3.7%) | 1.77 | 4,642 |
2018-02-01 | $482,475 (2.1%) | $639,191 (4.1%) | 1.75 | 4,444 |
2018-03-01 | $495,000 (3.0%) | $639,960 (2.1%) | 1.74 | 4,759 |
2018-04-01 | $499,000 (2.9%) | $638,700 (1.7%) | 1.69 | 5,380 |
2018-05-01 | $499,700 (2.0%) | $639,825 (1.6%) | 1.67 | 6,268 |
2018-06-01 | $495,945 (1.6%) | $629,965 (1.6%) | 1.65 | 7,129 |
2018-07-01 | $484,500 (0.9%) | $616,379 (1.5%) | 1.62 | 8,101 |
2018-08-01 | $479,000 (0.8%) | $604,146 (0.9%) | 1.60 | 8,623 |
2018-09-01 | $472,000 (0.6%) | $593,493 (0.3%) | 1.59 | 8,950 |
2018-10-01 | $469,900 (0.1%) | $590,304 (-0.3%) | 1.59 | 8,693 |
2018-11-01 | $469,900 (0.0%) | $593,258 (-1.0%) | 1.59 | 8,070 |
2018-12-01 | $469,900 (-1.1%) | $601,163 (-2.1%) | 1.62 | 6,944 |
2019-01-01 | $473,044 (-0.7%) | $603,633 (-3.4%) | 1.63 | 6,164 |
2019-02-01 | $477,949 (-0.9%) | $611,933 (-4.3%) | 1.61 | 6,019 |
2019-03-01 | $480,657 (-2.9%) | $611,249 (-4.5%) | 1.57 | 6,278 |
2019-04-01 | $475,720 (-4.7%) | $604,133 (-5.4%) | 1.51 | 6,832 |
2019-05-01 | $478,950 (-4.2%) | $604,692 (-5.5%) | 1.50 | 7,392 |
2019-06-01 | $479,000 (-3.4%) | $601,300 (-4.6%) | 1.50 | 8,307 |
2019-07-01 | $474,950 (-2.0%) | $598,894 (-2.8%) | 1.49 | 8,601 |
2019-08-01 | $473,291 (-1.2%) | $598,581 (-0.9%) | 1.50 | 8,498 |
2019-09-01 | $470,877 (-0.2%) | $597,153 (0.6%) | 1.51 | 8,255 |
2019-10-01 | $465,350 (-1.0%) | $590,927 (0.1%) | 1.50 | 7,952 |
2019-11-01 | $463,980 (-1.3%) | $593,276 (0.0%) | 1.52 | 6,942 |
2019-12-01 | $466,500 (-0.7%) | $597,951 (-0.5%) | 1.56 | 5,651 |
2020-01-01 | $472,170 (-0.2%) | $609,994 (1.1%) | 1.58 | 4,866 |
2020-02-01 | $479,000 (0.2%) | $616,550 (0.8%) | 1.57 | 4,427 |
2020-03-01 | $479,450 (-0.3%) | $621,009 (1.6%) | 1.50 | 4,816 |
2020-04-01 | $475,725 (0.0%) | $607,767 (0.6%) | 1.49 | 5,676 |
2020-05-01 | $488,500 (2.0%) | $617,166 (2.1%) | 1.48 | 5,748 |
2020-06-01 | $499,000 (4.2%) | $631,032 (4.9%) | 1.47 | 5,376 |
2020-07-01 | $499,900 (5.3%) | $642,495 (7.3%) | 1.45 | 5,134 |
2020-08-01 | $499,960 (5.6%) | $650,939 (8.8%) | 1.43 | 5,056 |
2020-09-01 | $499,980 (6.2%) | $654,864 (9.7%) | 1.43 | 4,745 |
2020-10-01 | $510,000 (9.6%) | $661,247 (11.9%) | 1.46 | 4,499 |
2020-11-01 | $512,500 (10.5%) | $669,846 (12.9%) | 1.50 | 3,848 |
2020-12-01 | $507,500 (8.8%) | $674,314 (12.8%) | 1.51 | 2,958 |
2021-01-01 | $499,900 (5.9%) | $682,776 (11.9%) | 1.49 | 2,486 |
2021-02-01 | $502,880 (5.0%) | $691,012 (12.1%) | 1.46 | 2,244 |
2021-03-01 | $511,875 (6.8%) | $684,314 (10.2%) | 1.45 | 2,403 |
2021-04-01 | $525,000 (10.4%) | $693,193 (14.1%) | 1.42 | 2,637 |
2021-05-01 | $549,900 (12.6%) | $717,025 (16.2%) | 1.46 | 2,848 |
2021-06-01 | $554,950 (11.2%) | $726,786 (15.2%) | 1.46 | 3,337 |
2021-07-01 | $555,000 (11.0%) | $731,698 (13.9%) | 1.46 | 3,758 |
2021-08-01 | $550,000 (10.0%) | $722,960 (11.1%) | 1.47 | 3,852 |
2021-09-01 | $550,000 (10.0%) | $724,111 (10.6%) | 1.47 | 3,995 |
2021-10-01 | $550,000 (7.8%) | $721,293 (9.1%) | 1.47 | 3,908 |
2021-11-01 | $550,000 (7.3%) | $725,117 (8.3%) | 1.47 | 3,127 |
2021-12-01 | $549,250 (8.2%) | $728,293 (8.0%) | 1.49 | 2,376 |
2022-01-01 | $550,000 (10.0%) | $739,209 (8.3%) | 1.49 | 1,835 |
2022-02-01 | $561,950 (11.8%) | $737,166 (6.7%) | 1.46 | 1,923 |
2022-03-01 | $573,950 (12.1%) | $737,757 (7.8%) | 1.44 | 2,142 |
2022-04-01 | $585,000 (11.4%) | $754,828 (8.9%) | 1.39 | 2,343 |
2022-05-01 | $597,450 (8.7%) | $760,144 (6.0%) | 1.37 | 3,414 |
2022-06-01 | $599,995 (8.1%) | $762,564 (4.9%) | 1.34 | 4,391 |
2022-07-01 | $599,000 (7.9%) | $754,182 (3.1%) | 1.35 | 5,649 |
2022-08-01 | $590,500 (7.4%) | $746,184 (3.2%) | 1.37 | 5,810 |
2022-09-01 | $589,900 (7.3%) | $761,963 (5.2%) | 1.38 | 5,839 |
2022-10-01 | $579,900 (5.4%) | $760,826 (5.5%) | 1.36 | 5,852 |
2022-11-01 | $582,478 (5.9%) | $769,365 (6.1%) | 1.40 | 5,511 |
2022-12-01 | $589,900 (7.4%) | $779,861 (7.1%) | 1.46 | 4,556 |
2023-01-01 | $597,450 (8.6%) | $793,439 (7.3%) | 1.48 | 3,810 |
2023-02-01 | $607,050 (8.0%) | $812,754 (10.3%) | 1.47 | 3,391 |
2023-03-01 | $614,896 (7.1%) | $825,588 (11.9%) | 1.45 | 3,384 |
2023-04-01 | $629,000 (7.5%) | $834,101 (10.5%) | 1.46 | 3,543 |
2023-05-01 | $639,687 (7.1%) | $829,802 (9.2%) | 1.45 | 4,148 |
2023-06-01 | $640,000 (6.7%) | $824,741 (8.2%) | 1.44 | 4,745 |
2023-07-01 | $639,900 (6.8%) | $826,915 (9.6%) | 1.45 | 5,311 |
2023-08-01 | $637,725 (8.0%) | $826,434 (10.8%) | 1.46 | 5,503 |
2023-09-01 | $625,000 (6.0%) | $811,158 (6.5%) | 1.46 | 5,656 |
2023-10-01 | $619,995 (6.9%) | $806,580 (6.0%) | 1.46 | 5,748 |
2023-11-01 | $603,725 (3.7%) | $795,828 (3.4%) | 1.44 | 5,587 |
2023-12-01 | $600,000 (1.7%) | $799,713 (2.6%) | 1.46 | 4,897 |
2024-01-01 | $603,772 (1.1%) | $804,123 (1.4%) | 1.47 | 4,261 |
2024-02-01 | $600,000 (-1.2%) | $802,232 (-1.3%) | 1.44 | 4,106 |
2024-03-01 | $605,000 (-1.6%) | $806,258 (-2.3%) | 1.42 | 4,288 |
2024-04-01 | $615,000 (-2.2%) | $811,500 (-2.7%) | 1.43 | 4,871 |
2024-05-01 | $625,000 (-2.3%) | $830,141 (0.0%) | 1.41 | 5,684 |
2024-06-01 | $625,000 (-2.3%) | $824,483 (0.0%) | 1.40 | 6,384 |
2024-07-01 | $617,497 (-3.5%) | $803,217 (-2.9%) | 1.41 | 6,898 |
2024-08-01 | $615,000 (-3.6%) | $794,214 (-3.9%) | 1.43 | 7,085 |
2024-09-01 | $604,890 (-3.2%) | $788,538 (-2.8%) | 1.42 | 7,233 |
2024-10-01 | $602,375 (-2.8%) | $781,657 (-3.1%) | 1.42 | 7,074 |
Portland's median listing price comes in at 142% of the national average.
Portland's average listing price for 2024-10-01 was $781,657, a difference of $-24,923 (-3.1%) versus the prior year and $-6,881 versus the prior month.
For the 2024-10-01 period, Portland had 7,074 MLS listings, a difference of -159 listings (-2%) versus the prior month and 1,326 listings (23%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Portland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 62 days | 2,269 sqft |
2018-02-01 | 42 days | 2,276 sqft |
2018-03-01 | 34 days | 2,273 sqft |
2018-04-01 | 30 days | 2,278 sqft |
2018-05-01 | 30 days | 2,279 sqft |
2018-06-01 | 32 days | 2,250 sqft |
2018-07-01 | 37 days | 2,219 sqft |
2018-08-01 | 38 days | 2,190 sqft |
2018-09-01 | 44 days | 2,159 sqft |
2018-10-01 | 49 days | 2,145 sqft |
2018-11-01 | 56 days | 2,150 sqft |
2018-12-01 | 67 days | 2,144 sqft |
2019-01-01 | 69 days | 2,139 sqft |
2019-02-01 | 47 days | 2,156 sqft |
2019-03-01 | 39 days | 2,146 sqft |
2019-04-01 | 35 days | 2,133 sqft |
2019-05-01 | 32 days | 2,141 sqft |
2019-06-01 | 36 days | 2,159 sqft |
2019-07-01 | 39 days | 2,151 sqft |
2019-08-01 | 43 days | 2,137 sqft |
2019-09-01 | 47 days | 2,131 sqft |
2019-10-01 | 50 days | 2,113 sqft |
2019-11-01 | 61 days | 2,100 sqft |
2019-12-01 | 74 days | 2,098 sqft |
2020-01-01 | 74 days | 2,113 sqft |
2020-02-01 | 55 days | 2,112 sqft |
2020-03-01 | 42 days | 2,096 sqft |
2020-04-01 | 43 days | 2,097 sqft |
2020-05-01 | 53 days | 2,107 sqft |
2020-06-01 | 50 days | 2,121 sqft |
2020-07-01 | 43 days | 2,107 sqft |
2020-08-01 | 42 days | 2,102 sqft |
2020-09-01 | 49 days | 2,080 sqft |
2020-10-01 | 57 days | 2,056 sqft |
2020-11-01 | 62 days | 2,048 sqft |
2020-12-01 | 64 days | 2,000 sqft |
2021-01-01 | 51 days | 1,942 sqft |
2021-02-01 | 37 days | 1,881 sqft |
2021-03-01 | 32 days | 1,903 sqft |
2021-04-01 | 30 days | 1,912 sqft |
2021-05-01 | 30 days | 1,947 sqft |
2021-06-01 | 27 days | 1,975 sqft |
2021-07-01 | 33 days | 1,978 sqft |
2021-08-01 | 37 days | 1,965 sqft |
2021-09-01 | 40 days | 1,961 sqft |
2021-10-01 | 42 days | 1,931 sqft |
2021-11-01 | 51 days | 1,908 sqft |
2021-12-01 | 49 days | 1,861 sqft |
2022-01-01 | 59 days | 1,852 sqft |
2022-02-01 | 28 days | 1,832 sqft |
2022-03-01 | 28 days | 1,835 sqft |
2022-04-01 | 26 days | 1,851 sqft |
2022-05-01 | 23 days | 1,929 sqft |
2022-06-01 | 24 days | 1,982 sqft |
2022-07-01 | 30 days | 2,001 sqft |
2022-08-01 | 37 days | 2,002 sqft |
2022-09-01 | 44 days | 1,996 sqft |
2022-10-01 | 44 days | 1,989 sqft |
2022-11-01 | 51 days | 1,995 sqft |
2022-12-01 | 65 days | 2,001 sqft |
2023-01-01 | 72 days | 2,021 sqft |
2023-02-01 | 53 days | 2,039 sqft |
2023-03-01 | 44 days | 2,043 sqft |
2023-04-01 | 37 days | 2,064 sqft |
2023-05-01 | 34 days | 2,088 sqft |
2023-06-01 | 34 days | 2,094 sqft |
2023-07-01 | 38 days | 2,111 sqft |
2023-08-01 | 41 days | 2,112 sqft |
2023-09-01 | 45 days | 2,080 sqft |
2023-10-01 | 48 days | 2,057 sqft |
2023-11-01 | 54 days | 2,024 sqft |
2023-12-01 | 66 days | 2,004 sqft |
2024-01-01 | 71 days | 2,006 sqft |
2024-02-01 | 55 days | 1,998 sqft |
2024-03-01 | 45 days | 1,996 sqft |
2024-04-01 | 39 days | 2,009 sqft |
2024-05-01 | 36 days | 2,027 sqft |
2024-06-01 | 40 days | 2,034 sqft |
2024-07-01 | 47 days | 2,019 sqft |
2024-08-01 | 51 days | 2,014 sqft |
2024-09-01 | 58 days | 2,010 sqft |
2024-10-01 | 62 days | 2,012 sqft |
Portland's median square footage for active listings during the 2024-10-01 period was 2,012 sqft. One year prior, the average listing was 2,057 sqft.