Portland FHA Loan Rates, Closing Costs & Stats

PORTLAND-VANCOUVER-HILLSBORO, OR-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.

    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 0.12% for the week of 2024-11-15, 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 (2024-11-08) was 6.13% and one month ago for the week of 2024-10-11, the average rate was 5.83%.

    The average rate one year ago was 6.97%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.57%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 438 6.11% $17,715
    GUILD MORTGAGE COMPANY 238 6.62% $17,833
    QUICKEN LOANS, LLC 228 6.17% $17,096
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 200 6.57% $16,735
    MORTGAGE EXPRESS, LLC 113 6.48% $16,070
    CMG MORTGAGE, INC. 100 6.51% $16,136
    NATIONS DIRECT MORTGAGE, LLC 80 6.30% $16,423
    LOANDEPOT.COM, LLC 76 6.08% $15,634
    ACADEMY MORTGAGE CORPORATION 75 6.59% $19,780
    PENNYMAC LOAN SERVICES, LLC 60 5.97% $19,191
    NEWREZ LLC 60 6.56% $17,048
    DIRECTORS MORTGAGE, INC. 57 6.89% $20,006
    DHI MORTGAGE COMPANY, LTD. 56 5.79% $11,354
    CROSSCOUNTRY MORTGAGE, LLC 52 6.77% $17,782
    AMERICAN PACIFIC MORTGAGE CORPORATION 48 6.70% $16,852
    GUARANTEED RATE, INC. 47 6.17% $16,312
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 46 6.64% $17,802
    PACIFIC RESIDENTIAL MORTGAGE, LLC 45 6.59% $17,406
    BROKER SOLUTIONS, INC. 43 6.76% $17,045
    EAGLE HOME MORTGAGE, LLC 41 5.84% $15,545
    CARDINAL FINANCIAL 39 6.58% $20,093
    CALIBER HOME LOANS, INC. 36 6.18% $14,321
    Paramount Residential Mortgage Group, Inc. 30 6.85% $19,276
    CANOPY MORTGAGE, LLC 30 6.46% $20,656
    Flagstar Bank, FSB 29 6.47% $14,811
    OnPoint Community Credit Union 29 6.77% $12,310
    AMERICAN FINANCIAL NETWORK, INC. 28 6.68% $19,132
    NOVA FINANCIAL & INVESTMENT CORPORATION 27 6.21% $18,781
    GENEVA FINANCIAL, LLC 27 6.80% $20,917
    PLAZA HOME MORTGAGE, INC. 26 6.39% $19,678
    FREEDOM MORTGAGE CORPORATION 26 6.71% $20,558
    MOVEMENT MORTGAGE, LLC 25 6.74% $17,842
    Century Mortgage Company DBA Century Lending Company 24 6.16% $16,918
    SUMMIT MORTGAGE CORPORATION 24 6.69% $19,731
    PANORAMA MORTGAGE GROUP, LLC 24 6.50% $20,416
    American Mortgage & Equity Consultants, Inc. 22 6.77% $19,661
    MUTUAL OF OMAHA MORTGAGE, INC. 22 6.32% $21,134
    AMERISAVE MORTGAGE CORPORATION 21 5.82% $21,881
    S1L, Inc. 20 6.64% $20,938
    Sierra Pacific Mortgage Company, Inc. 20 6.44% $16,656
    BAY EQUITY LLC 20 6.27% $16,791
    MANN FINANCIAL INC. 19 6.59% $17,586
    PRIORITY HOME LENDING, LLC 18 5.54% $18,077
    HOMEBRIDGE FINANCIAL SERVICES, INC. 16 5.89% $20,697
    PRIMELENDING, A PLAINSCAPITAL COMPANY 16 6.63% $21,306
    Banner Bank 15 6.03% $17,005
    Bank of England 15 6.48% $17,626
    HomeStreet Bank 15 6.03% $18,727
    RESIDENTIAL MORTGAGE, LLC 15 6.31% $16,011
    Mr. Cooper ( Nationstar Mortgage ) 15 5.95% $22,677
    South Pacific Financial Corporation 14 5.38% $14,202
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 13 6.57% $14,853
    Plains Commerce Bank 12 6.48% $16,813
    PRIMARY RESIDENTIAL MORTGAGE, INC. 12 6.97% $18,012
    CHURCHILL MORTGAGE CORPORATION 12 6.30% $15,859
    Equity Prime Mortgage LLC 12 6.73% $16,728
    MASON MCDUFFIE MORTGAGE CORPORATION 12 6.18% $20,627
    SUN WEST MORTGAGE COMPANY, INC. 11 6.02% $22,060
    HOMEAMERICAN MORTGAGE CORPORATION 11 5.49% $12,132
    CORNERSTONE HOME LENDING, INC. 11 6.56% $20,450
    U.S. Bank 11 6.10% $15,502
    Willamette Valley Bank 11 6.36% $18,152
    KeyBank 10 6.04% $14,608
    UNION HOME MORTGAGE CORP. 10 6.70% $16,431
    ZILLOW HOME LOANS, LLC 10 6.18% $16,996
    JPMorgan Chase Bank 9 6.76% $10,461
    AMERICAN FINANCIAL RESOURCES, INC. 9 6.63% $16,578
    LEADERONE FINANCIAL CORPORATION 8 6.39% $19,483
    MORTGAGE SOLUTIONS OF COLORADO, LLC 8 6.95% $17,063
    Nations Lending Corporation 8 6.61% $14,064
    ON Q FINANCIAL, INC. 8 6.95% $14,042
    SUMMIT FUNDING, INC. 8 6.56% $24,263
    PREMIER MORTGAGE RESOURCES, L.L.C. 8 6.75% $19,598
    Umpqua Bank 7 6.59% $15,430
    ENVOY MORTGAGE, LTD 7 7.02% $18,013
    CALCON MUTUAL MORTGAGE LLC 7 7.07% $20,154
    OCMBC, INC. 7 7.05% $17,374
    iCore Lending, Inc. 7 6.80% $22,568
    NFM, INC. 7 6.73% $20,752
    V.I.P. MORTGAGE, INC. 7 6.32% $13,158
    Carrington Mortgage Services, LLC 7 6.50% $20,295
    Cornerstone First Mortgage, Inc 7 6.66% $20,095
    Citizens Bank 7 6.84% $14,025
    PLANET HOME LENDING, LLC 6 6.25% $15,197
    FIRST CENTENNIAL MORTGAGE CORPORATION 6 6.85% $15,428
    LAKEVIEW LOAN SERVICING, LLC 6 5.81% $17,072
    Sunflower Bank 6 6.49% $23,200
    Wells Fargo Bank 6 6.31% $9,430
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 5 7.00% $15,359
    PHH Mortgage Corporation 5 6.30% $13,178
    Summit Mortgage Corporation 5 6.95% $15,616
    Loan Simple, Inc. 5 7.10% $20,025
    LADERA LENDING, INC. 5 6.88% $17,263
    Franklin Loan Corporation 5 6.05% $21,730
    AMERICAN FINANCING CORPORATION 5 6.28% $20,278
    LPMC, LLC 5 6.80% $15,261
    PENRITH HOME LOANS LLC 5 6.90% $13,512
    Prosperity Home Mortgage, LLC 4 6.53% $18,095
    Commerce Home Mortgage, Inc. 4 6.34% $23,085
    EVERETT FINANCIAL, INC. 4 6.63% $19,140
    TOP FLITE FINANCIAL, INC. 4 6.59% $27,047
    AXIA FINANCIAL, LLC 4 6.56% $18,497
    LOANPAL, LLC 4 6.03% $16,312
    Hometown Equity Mortgage, LLC 4 6.13% $21,828
    BECKAM FUNDING CORP. 3 6.92% $20,866
    UNITED SECURITY FINANCIAL CORP 3 7.04% $26,009
    Northpointe Bank 3 6.96% $23,897
    PENTAGON FEDERAL CREDIT UNION 2 5.13% $22,327
    Neighborhood Loans, Inc. 2 6.75% $20,294
    AmeriHome Mortgage Company, LLC 2 5.50% $15,456
    Keystone Funding, Inc. 2 7.06% $15,161
    VERITAS FUNDING, LLC 2 6.94% $25,503
    VILLAGE CAPITAL MORTGAGE 2 6.63% $11,667
    BMO Harris Bank 2 6.56% $9,577
    Washington Trust Bank 2 6.44% $14,738
    Bank of the Pacific 2 6.19% $14,792
    Bank of America 2 6.63% $14,787
    JMAC LENDING, INC. 2 6.63% $15,059
    JLB CORPORATION 2 6.38% $14,655
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.56% $20,181
    The Federal Savings Bank 2 6.94% $21,095
    DAS Acquisition Company, LLC 2 7.44% $17,931
    MID AMERICA MORTGAGE, INC. 1 7.50% $4,696
    AMCAP MORTGAGE, LTD. 1 6.12% $22,890
    Zions Bank 1 5.88% $12,822
    ALLIED MORTGAGE GROUP, INC. 1 6.13% $21,282
    Magnolia Bank 1 5.75% $23,972
    AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 6.63% $25,038
    Mortgage Research Center, LLC 1 5.63% $8,740
    MOUNTAIN WEST FINANCIAL, INC. 1 6.25% $20,812
    LOANLEADERS OF AMERICA, INC. 1 5.38% $24,632
    Lakeview Community Capital, LLC 1 7.25% $17,267
    M&T Bank 1 7.13% $7,622
    MYCUMORTGAGE, LLC 1 6.63% $7,839
    KELLER MORTGAGE, LLC 1 5.63% $13,017
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.25% $22,441
    NBKC BANK 1 5.13% $8,004
    NETWORK CAPITAL FUNDING CORPORATION 1 5.75% $10,428
    INTERCAP LENDING INC. 1 6.63% $12,792
    HOMEXPRESS MORTGAGE CORP. 1 7.88% $18,191
    HOMESIDE FINANCIAL, LLC 1 5.63% $26,015
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.50% $18,553
    Golden Empire Mortgage, Inc. 1 6.49% $26,132
    Peoples Bank 1 7.25% $16,490
    EMBRACE HOME LOANS, INC. 1 6.63% $17,799
    1st Security Bank of Washington 1 6.75% $19,938
    POLARIS HOME FUNDING CORP. 1 6.63% $11,723
    DATA MORTGAGE, INC. 1 6.63% $23,962
    CUSTOMER SERVICE MORTGAGE CORPORATION 1 7.13% $11,524
    CRESCENT MORTGAGE COMPANY 1 6.00% $19,605
    RANLIFE, INC. 1 6.99% $23,830
    Boeing Employees Credit Union 1 7.13% $11,281
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.13% $10,070
    Bank of the West 1 5.38% $11,949
    STARBOARD FINANCIAL MANAGEMENT, LLC 1 6.63% $19,899
    Strong Home Mortgage, LLC 1 6.49% $18,469
    ALAMEDA MORTGAGE CORPORATION 1 7.25% $17,096
    Axos Bank 1 6.63% $10,996
    T2 FINANCIAL LLC 1 7.13% $21,366
    TOWNE MORTGAGE COMPANY 1 6.75% $17,171
    TruHome Solutions, LLC 1 5.88% $16,340

    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. Louis
    Date 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 for 2024-10-01 was $602,375, a difference of $-17,620 (-2.8%) versus the prior year and $-2,515 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2024-10-01 was 62 days. This is 29% longer than the same period one year ago.

    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.

    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).