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 189 lenders originated 8,642 FHA loans during 2021. The total origination value was $3,223,260,000, with an average FHA loan value of $372,976.

Portland FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Portland averaged 6.34% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Portland's average FHA mortgage closing costs are $10,337.

The average rate for the prior week (2022-11-25) was 6.46% and one month ago for the week of 2022-10-28, the average rate was 6.5%.

The average rate one year ago was 3.53%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.18%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
GUILD MORTGAGE COMPANY 465 3.00% $12,897
QUICKEN LOANS, LLC 431 2.62% $9,030
CALIBER HOME LOANS, INC. 412 2.74% $10,720
LAKEVIEW LOAN SERVICING, LLC 301 2.86% $7,060
UNITED WHOLESALE MORTGAGE, LLC 276 2.59% $11,357
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 270 3.22% $11,912
FREEDOM MORTGAGE CORPORATION 225 2.73% $7,621
FINANCE OF AMERICA MORTGAGE LLC 214 3.05% $12,026
PENNYMAC LOAN SERVICES, LLC 208 2.87% $7,540
HOMEBRIDGE FINANCIAL SERVICES, INC. 170 2.82% $10,234
DIRECTORS MORTGAGE, INC. 162 3.32% $13,618
LOANDEPOT.COM, LLC 157 3.06% $11,534
NATIONS DIRECT MORTGAGE, LLC 154 2.69% $10,965
ACADEMY MORTGAGE CORPORATION 151 3.08% $12,523
Mr. Cooper ( Nationstar Mortgage ) 148 2.99% $6,693
PACIFIC RESIDENTIAL MORTGAGE, LLC 113 3.08% $13,226
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 108 3.20% $12,424
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 105 3.46% $13,440
HOME POINT FINANCIAL CORPORATION 103 2.63% $10,787
SUMMIT MORTGAGE CORPORATION 98 3.01% $11,701
AMERICAN PACIFIC MORTGAGE CORPORATION 97 3.09% $11,990
CMG MORTGAGE, INC. 83 2.96% $12,109
Umpqua Bank 83 2.69% $11,241
NEWREZ LLC 77 2.84% $8,027
Willamette Valley Bank 76 3.05% $11,685
Gateway First Bank 63 3.36% $10,140
Sierra Pacific Mortgage Company, Inc. 61 2.78% $11,360
Hometown Lenders, Inc. 61 3.24% $13,149
CROSSCOUNTRY MORTGAGE, LLC 59 3.04% $13,600
OnPoint Community Credit Union 57 3.05% $10,727
DHI MORTGAGE COMPANY, LTD. 57 2.74% $9,211
BROKER SOLUTIONS, INC. 56 3.15% $11,349
GUARANTEED RATE, INC. 56 2.89% $11,653
Commerce Home Mortgage, Inc. 55 3.04% $11,506
VILLAGE CAPITAL MORTGAGE 54 2.67% $4,010
Carrington Mortgage Services, LLC 53 3.18% $10,825
GENEVA FINANCIAL, LLC 45 3.09% $12,651
PRIMARY RESIDENTIAL MORTGAGE, INC. 45 3.48% $12,550
Paramount Residential Mortgage Group, Inc. 43 3.25% $12,625
MID AMERICA MORTGAGE, INC. 42 2.95% $5,158
CHURCHILL MORTGAGE CORPORATION 40 2.81% $11,949
AMERICAN FINANCIAL NETWORK, INC. 40 2.85% $15,056
HomeStreet Bank 39 2.70% $12,236
MANN FINANCIAL INC. 38 3.36% $15,327
Flagstar Bank, FSB 35 2.64% $10,437
First Guaranty Mortgage Corporation 35 2.83% $8,965
LEADERONE FINANCIAL CORPORATION 33 3.19% $10,882
S1L, Inc. 33 3.39% $12,248
FIRST CENTENNIAL MORTGAGE CORPORATION 32 2.95% $10,288
U.S. Bank 32 2.80% $11,687
CHERRY CREEK MORTGAGE, LLC 31 2.72% $11,349
MOVEMENT MORTGAGE, LLC 30 3.23% $10,332
AmeriHome Mortgage Company, LLC 30 2.75% $7,532
PREMIER MORTGAGE RESOURCES, L.L.C. 30 2.97% $13,480
InterContinental Capital Group, Inc 28 2.55% $9,578
SECURITYNATIONAL MORTGAGE COMPANY 28 3.25% $12,207
AXIA FINANCIAL, LLC 28 3.24% $13,297
Nations Lending Corporation 28 2.92% $15,532
AMERISAVE MORTGAGE CORPORATION 27 2.99% $9,942
EAGLE HOME MORTGAGE, LLC 27 3.08% $13,104
AMERICAN FINANCING CORPORATION 26 2.74% $9,521
Bank of England 23 2.98% $12,448
PANORAMA MORTGAGE GROUP, LLC 23 3.34% $12,674
PRIMELENDING, A PLAINSCAPITAL COMPANY 23 3.22% $12,367
PLANET HOME LENDING, LLC 21 2.91% $9,199
HOME MORTGAGE ALLIANCE, LLC 19 2.89% $11,616
JLB CORPORATION 19 2.69% $11,392
PLAZA HOME MORTGAGE, INC. 18 2.57% $16,689
Citizens Bank 17 2.71% $12,014
SUN WEST MORTGAGE COMPANY, INC. 17 2.96% $13,509
HOMEAMERICAN MORTGAGE CORPORATION 17 2.65% $8,747
LENDUS, LLC 16 2.81% $12,415
STEARNS LENDING, LLC 15 2.92% $12,089
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 14 3.47% $11,155
CANOPY MORTGAGE, LLC 14 2.92% $12,779
MUTUAL OF OMAHA MORTGAGE, INC. 14 2.99% $12,376
SUMMIT FUNDING, INC. 14 3.33% $12,778
SOVEREIGN LENDING GROUP INCORPORATED 13 2.62% $11,518
Banner Bank 13 2.61% $11,253
Loan Simple, Inc. 13 3.04% $11,159
LPMC, LLC 12 2.85% $10,214
PRIORITY HOME LENDING, LLC 10 3.19% $12,602
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 10 3.06% $10,500
COLUMBIA COMMUNITY CREDIT UNION 10 2.66% $11,753
Neighborhood Loans, Inc. 9 3.74% $16,281
NFM, INC. 9 3.26% $12,915
South Pacific Financial Corporation 9 2.69% $11,240
AMERICAN FINANCIAL RESOURCES, INC. 9 2.85% $11,810
RANLIFE, INC. 9 2.96% $11,084
VERITAS FUNDING, LLC 9 3.71% $15,870
BKCO MORTGAGE, LLC 8 3.53% $10,380
KeyBank 8 2.86% $12,008
LAND HOME FINANCIAL SERVICES, INC. 8 3.23% $15,916
MORTGAGE SOLUTIONS OF COLORADO, LLC 8 3.02% $13,352
Northpointe Bank 8 2.89% $12,116
PENRITH HOME LOANS LLC 8 3.08% $10,977
Prosperity Home Mortgage, LLC 8 3.61% $12,968
KELLER MORTGAGE, LLC 7 2.59% $10,581
The Federal Savings Bank 7 2.70% $14,602
Mortgage Research Center, LLC 6 2.81% $9,018
MUFG Union Bank 6 2.73% $7,849
BAY EQUITY LLC 6 3.10% $11,414
Equity Prime Mortgage LLC 6 2.73% $11,702
Lakeview Community Capital, LLC 6 2.73% $6,291
CELEBRITY HOME LOANS, LLC 5 3.03% $11,494
M&T Bank 5 3.08% $11,052
LOANPAL, LLC 5 2.65% $11,529
Chickasaw Community Bank 5 2.85% $10,958
JPMorgan Chase Bank 5 2.97% $7,196
AmRes Corporation 4 2.84% $11,237
MASON MCDUFFIE MORTGAGE CORPORATION 4 2.75% $10,886
THE MORTGAGE COMPANY 4 2.72% $13,603
COUNTRYPLACE MORTGAGE, LTD. 4 3.75% $13,612
Golden Empire Mortgage, Inc. 4 3.53% $12,018
HOMESIDE FINANCIAL, LLC 4 3.09% $11,938
OCEANSIDE MORTGAGE COMPANY 4 2.78% $5,273
PREMIER LENDING, INC. 4 3.09% $13,272
UNITED MORTGAGE CORP. 4 3.03% $12,807
Wells Fargo Bank 3 3.08% $12,083
ZILLOW HOME LOANS, LLC 3 2.50% $10,804
ROUNDPOINT MORTGAGE SERVICING CORPORATION 3 3.25% $8,802
Barrington Bank & Trust Company, N.A. 3 3.26% $13,206
OCMBC, INC. 3 3.75% $13,015
EMBRACE HOME LOANS, INC. 3 2.83% $11,892
INSPIRE HOME LOANS INC. 3 3.13% $14,347
LADERA LENDING, INC. 3 3.13% $12,219
CORNERSTONE HOME LENDING, INC. 3 2.88% $13,726
First Savings Bank 3 2.67% $12,196
RELIANCE FIRST CAPITAL, LLC 2 3.50% $13,254
ARC HOME LLC 2 2.94% $11,271
Summit Mortgage Corporation 2 2.75% $12,752
AMCAP MORTGAGE, LTD. 2 2.75% $8,988
Colten Mortgage, LLC 2 3.00% $4,813
SOUTHWEST FUNDING, LP 2 3.25% $12,433
Boeing Employees Credit Union 2 2.63% $10,053
Hometown Equity Mortgage, LLC 2 4.25% $11,958
NEXERA HOLDING LLC 2 2.69% $9,833
INTELLILOAN, INC. 2 2.44% $9,546
PARKSIDE LENDING, LLC 2 2.69% $9,876
MORIA DEVELOPMENT, INC. 2 3.31% $12,222
ALL WESTERN MORTGAGE, INC. 2 4.06% $13,261
Peoples Bank 2 3.00% $10,265
Plains Commerce Bank 2 2.56% $9,747
Bank of America 2 3.31% $10,485
TOP FLITE FINANCIAL, INC. 2 2.88% $24,287
OPEN MORTGAGE, LLC 2 3.31% $11,174
Sunflower Bank 2 3.06% $13,553
EVERETT FINANCIAL, INC. 2 3.19% $10,389
Austin Capital Bank SSB 1 3.50% $8,199
LOANLEADERS OF AMERICA, INC. 1 2.75% $10,464
INTERNATIONAL CITY MORTGAGE, INC. 1 4.50% $8,433
Low VA Rates, LLC 1 2.38% $6,395
INTERCAP LENDING INC. 1 3.00% $10,214
Magnolia Bank 1 3.25% $10,187
MORTGAGE MASTER SERVICE CORPORATION 1 3.25% $12,227
Washington Trust Bank 1 2.88% $10,165
GoPrime Mortgage, Inc. 1 2.38% $11,935
Goldwater Bank, N.A. 1 3.50% $11,961
NBH Bank 1 2.88% $5,488
NETWORK CAPITAL FUNDING CORPORATION 1 3.88% $13,763
Network Funding, L.P. 1 3.38% $15,840
First Home Bank 1 4.50% $10,765
FBC MORTGAGE, LLC 1 2.88% $12,845
North American Savings Bank, F.S.B. 1 2.50% $8,140
NOVA FINANCIAL & INVESTMENT CORPORATION 1 3.00% $9,736
NP, Inc. 1 2.25% $7,949
ON Q FINANCIAL, INC. 1 2.75% $13,086
Paramount Bank 1 2.63% $13,888
DRAPER AND KRAMER MORTGAGE CORP. 1 3.13% $12,232
DATA MORTGAGE, INC. 1 3.00% $12,559
CONTOUR MORTGAGE CORPORATION 1 3.38% $5,624
CALCULATED RISK ANALYTICS LLC 1 2.88% $9,770
BNC National Bank 1 2.75% $7,422
Blue Ridge Bank 1 2.75% $12,957
BETTER MORTGAGE CORPORATION 1 2.63% $9,574
SIRVA MORTGAGE, INC. 1 3.13% $7,699
SIWELL, INC. 1 2.88% $10,542
BECKAM FUNDING CORP. 1 3.38% $13,496
SOUTHWEST STAGE FUNDING, LLC 1 2.75% $5,248
Stifel Bank and Trust 1 2.88% $8,067
Strong Home Mortgage, LLC 1 2.25% $7,143
Bank of the West 1 3.88% $6,054
Bank of the Pacific 1 2.88% $10,625
TJC Mortgage, Inc. 1 3.00% $5,525
TruHome Solutions, LLC 1 2.75% $9,733
Ixonia Bank 1 3.00% $15,204
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.88% $13,476
V.I.P. MORTGAGE, INC. 1 3.25% $13,623
VISION ONE MORTGAGE, INC. 1 3.25% $7,088

The top Portland FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 465 FHA loans originated. Their average total fees are $12,897, which is $3,867 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Portland FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($4,010), MID AMERICA MORTGAGE, INC. ($5,158), Mr. Cooper ( Nationstar Mortgage ) ($6,693), LAKEVIEW LOAN SERVICING, LLC ($7,060) and AmeriHome Mortgage Company, LLC ($7,532).

The lowest rate Portland FHA lenders (with over 10 loans originated) are InterContinental Capital Group, Inc (2.55%), PLAZA HOME MORTGAGE, INC. (2.57%), UNITED WHOLESALE MORTGAGE, LLC (2.59%), Banner Bank (2.61%) and SOVEREIGN LENDING GROUP INCORPORATED (2.62%).

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

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%) $623,313 (3.6%) 1.76 4,658
2018-02-01 $482,450 (2.1%) $637,336 (4.0%) 1.75 4,462
2018-03-01 $495,000 (3.1%) $638,263 (2.1%) 1.74 4,777
2018-04-01 $499,000 (2.9%) $637,241 (1.7%) 1.69 5,398
2018-05-01 $499,438 (2.0%) $638,545 (1.6%) 1.67 6,286
2018-06-01 $495,000 (1.8%) $628,654 (1.6%) 1.65 7,151
2018-07-01 $482,500 (0.5%) $615,343 (1.5%) 1.61 8,121
2018-08-01 $478,000 (0.6%) $603,262 (0.9%) 1.60 8,644
2018-09-01 $469,955 (0.2%) $592,727 (0.3%) 1.58 8,971
2018-10-01 $469,375 (0.3%) $589,529 (-0.2%) 1.59 8,712
2018-11-01 $469,850 (0.0%) $592,535 (-0.9%) 1.59 8,087
2018-12-01 $469,900 (-1.1%) $600,420 (-2.0%) 1.62 6,960
2019-01-01 $472,425 (-0.5%) $602,868 (-3.3%) 1.63 6,178
2019-02-01 $477,000 (-1.1%) $611,495 (-4.1%) 1.61 6,031
2019-03-01 $480,143 (-3.0%) $610,775 (-4.3%) 1.57 6,292
2019-04-01 $475,225 (-4.8%) $603,469 (-5.3%) 1.51 6,852
2019-05-01 $475,975 (-4.7%) $603,842 (-5.4%) 1.49 7,418
2019-06-01 $477,404 (-3.6%) $600,593 (-4.5%) 1.49 8,333
2019-07-01 $474,925 (-1.6%) $598,116 (-2.8%) 1.49 8,627
2019-08-01 $473,000 (-1.1%) $597,829 (-0.9%) 1.50 8,526
2019-09-01 $470,750 (0.2%) $596,394 (0.6%) 1.51 8,285
2019-10-01 $464,500 (-1.0%) $590,169 (0.1%) 1.50 7,983
2019-11-01 $462,000 (-1.7%) $592,319 (0.0%) 1.51 6,972
2019-12-01 $465,572 (-0.9%) $596,712 (-0.6%) 1.55 5,682
2020-01-01 $470,336 (-0.4%) $608,584 (1.0%) 1.57 4,896
2020-02-01 $477,885 (0.2%) $614,998 (0.6%) 1.56 4,459
2020-03-01 $478,846 (-0.3%) $619,604 (1.5%) 1.50 4,847
2020-04-01 $475,000 (-0.1%) $606,788 (0.6%) 1.49 5,706
2020-05-01 $487,220 (2.4%) $616,429 (2.1%) 1.48 5,775
2020-06-01 $499,000 (4.5%) $630,312 (5.0%) 1.47 5,399
2020-07-01 $499,900 (5.3%) $641,859 (7.3%) 1.45 5,157
2020-08-01 $499,900 (5.7%) $650,072 (8.7%) 1.43 5,082
2020-09-01 $499,974 (6.2%) $653,970 (9.7%) 1.43 4,771
2020-10-01 $510,000 (9.8%) $660,249 (11.9%) 1.46 4,522
2020-11-01 $512,500 (10.9%) $668,864 (12.9%) 1.50 3,870
2020-12-01 $507,500 (9.0%) $672,948 (12.8%) 1.51 2,982
2021-01-01 $499,900 (6.3%) $681,071 (11.9%) 1.49 2,508
2021-02-01 $501,345 (4.9%) $689,542 (12.1%) 1.46 2,266
2021-03-01 $510,186 (6.5%) $682,442 (10.1%) 1.45 2,426
2021-04-01 $525,000 (10.5%) $691,922 (14.0%) 1.42 2,657
2021-05-01 $549,000 (12.7%) $715,563 (16.1%) 1.45 2,870
2021-06-01 $554,500 (11.1%) $725,391 (15.1%) 1.46 3,357
2021-07-01 $553,000 (10.6%) $730,379 (13.8%) 1.46 3,778
2021-08-01 $550,000 (10.0%) $721,911 (11.1%) 1.47 3,873
2021-09-01 $550,000 (10.0%) $723,031 (10.6%) 1.47 4,018
2021-10-01 $549,950 (7.8%) $719,948 (9.0%) 1.47 3,932
2021-11-01 $550,000 (7.3%) $723,647 (8.2%) 1.47 3,151
2021-12-01 $549,000 (8.2%) $725,921 (7.9%) 1.49 2,400
2022-01-01 $549,900 (10.0%) $736,590 (8.2%) 1.49 1,858
2022-02-01 $557,500 (11.2%) $733,829 (6.4%) 1.45 1,947
2022-03-01 $572,500 (12.2%) $734,914 (7.7%) 1.43 2,166
2022-04-01 $585,000 (11.4%) $753,078 (8.8%) 1.40 2,369
2022-05-01 $597,450 (8.8%) $758,077 (5.9%) 1.37 3,440
2022-06-01 $599,950 (8.2%) $761,068 (4.9%) 1.34 4,415
2022-07-01 $599,000 (8.3%) $752,764 (3.1%) 1.36 5,675
2022-08-01 $589,950 (7.3%) $744,522 (3.1%) 1.36 5,836
2022-09-01 $589,900 (7.3%) $761,177 (5.3%) 1.38 5,863
2022-10-01 $579,900 (5.5%) $759,892 (5.6%) 1.36 5,878
2022-11-01 $582,475 (5.9%) $768,480 (6.2%) 1.40 5,534
Portland's median listing price for 2022-11-01 was $582,475, a difference of $32,475 (5.9%) versus the prior year and $2,575 versus the prior month.

Portland's median listing price comes in at 140% of the national average.

Portland's average listing price for 2022-11-01 was $768,480, a difference of $44,833 (6.2%) versus the prior year and $8,588 versus the prior month.

For the 2022-11-01 period, Portland had 5,534 MLS listings, a difference of -344 listings (-6%) versus the prior month and 2,383 listings (76%) 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 37 days 2,268 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 2,217 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 41 days 2,146 sqft
2019-04-01 36 days 2,131 sqft
2019-05-01 33 days 2,139 sqft
2019-06-01 37 days 2,158 sqft
2019-07-01 41 days 2,149 sqft
2019-08-01 45 days 2,136 sqft
2019-09-01 49 days 2,130 sqft
2019-10-01 52 days 2,111 sqft
2019-11-01 64 days 2,098 sqft
2019-12-01 76 days 2,094 sqft
2020-01-01 77 days 2,108 sqft
2020-02-01 60 days 2,102 sqft
2020-03-01 44 days 2,094 sqft
2020-04-01 45 days 2,093 sqft
2020-05-01 56 days 2,104 sqft
2020-06-01 53 days 2,119 sqft
2020-07-01 45 days 2,106 sqft
2020-08-01 43 days 2,099 sqft
2020-09-01 51 days 2,078 sqft
2020-10-01 58 days 2,055 sqft
2020-11-01 66 days 2,046 sqft
2020-12-01 67 days 1,999 sqft
2021-01-01 54 days 1,942 sqft
2021-02-01 40 days 1,880 sqft
2021-03-01 34 days 1,903 sqft
2021-04-01 31 days 1,911 sqft
2021-05-01 32 days 1,946 sqft
2021-06-01 28 days 1,974 sqft
2021-07-01 36 days 1,975 sqft
2021-08-01 37 days 1,963 sqft
2021-09-01 43 days 1,960 sqft
2021-10-01 43 days 1,931 sqft
2021-11-01 53 days 1,905 sqft
2021-12-01 51 days 1,858 sqft
2022-01-01 63 days 1,848 sqft
2022-02-01 29 days 1,827 sqft
2022-03-01 29 days 1,831 sqft
2022-04-01 27 days 1,848 sqft
2022-05-01 24 days 1,927 sqft
2022-06-01 25 days 1,981 sqft
2022-07-01 31 days 2,000 sqft
2022-08-01 37 days 2,001 sqft
2022-09-01 44 days 1,994 sqft
2022-10-01 45 days 1,987 sqft
2022-11-01 52 days 1,994 sqft
Portland's median listing age (time on market) for 2022-11-01 was 52 days. This is -1% shorter than the same period one year ago.

Portland's median square footage for active listings during the 2022-11-01 period was 1,994 sqft. One year prior, the average listing was 1,905 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).