Price FHA Loan Rates, Closing Costs & Stats

Price, UT

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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.

    Price's 26 lenders originated 97 FHA loans during 2023. The total origination value was $21,915,000, with an average FHA loan value of $225,928.

    Price FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Price averaged 6.46% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Price's average FHA mortgage closing costs are $7,337.

    The average rate for the prior week (2024-12-06) was 6.13% and one month ago for the week of 2024-11-08, the average rate was 6.59%.

    The average rate one year ago was 6.8%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.48%.

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

    Price 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 Price level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    SECURITY HOME MORTGAGE, LLC. 31 6.48% $10,744
    Bank of Utah 19 7.18% $8,083
    QUICKEN LOANS, LLC 9 6.15% $10,126
    BROKER SOLUTIONS, INC. 7 7.30% $11,454
    UNITED WHOLESALE MORTGAGE, LLC 3 5.71% $11,095
    CROSSCOUNTRY MORTGAGE, LLC 2 7.25% $8,493
    Plains Commerce Bank 2 6.00% $14,758
    GUILD MORTGAGE COMPANY 1 5.63% $6,170
    INTERCAP LENDING INC. 1 6.75% $9,680
    MOUNTAIN AMERICA 1 5.99% $6,291
    NATIONS RELIABLE LENDING, LLC 1 6.00% $17,033
    Network Funding, L.P. 1 5.75% $10,662
    NEWREZ LLC 1 5.25% $10,937
    Northpointe Bank 1 7.13% $10,284
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $12,869
    RANLIFE, INC. 1 6.75% $12,565
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.00% $4,765
    VERITAS FUNDING, LLC 1 8.00% $8,251
    AMERICA FIRST 1 6.13% $11,399
    Wells Fargo Bank 1 5.63% $7,415
    Bank of England 1 6.25% $6,186
    Carrington Mortgage Services, LLC 1 6.13% $13,488
    Century Mortgage Company DBA Century Lending Company 1 7.25% $7,492
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.13% $9,513
    FIRST COLONY MORTGAGE CORPORATION 1 6.63% $11,605
    FREEDOM MORTGAGE CORPORATION 1 6.25% $15,348

    The top Price FHA lender as defined by loan originations is SECURITY HOME MORTGAGE, LLC., with 31 FHA loans originated. Their average total fees are $10,744, which is $2,661 higher than the next largest lender, Bank of Utah.

    The lowest fee Price FHA lenders (with over 10 loans originated) are Bank of Utah ($8,083), SECURITY HOME MORTGAGE, LLC. ($10,744), .

    The lowest rate Price FHA lenders (with over 10 loans originated) are SECURITY HOME MORTGAGE, LLC. (6.48%), Bank of Utah (7.18%), .

    Price FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    PRICE, UT CARBON 2022 $420,680 $538,650 $651,050 $809,150
    PRICE, UT CARBON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Price (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 $121,150 (1.0%) $161,044 (15.3%) 0.00 143
    2018-02-01 $124,700 (0.9%) $163,123 (9.5%) 0.00 139
    2018-03-01 $129,750 (3.9%) $162,445 (7.7%) 0.00 142
    2018-04-01 $131,250 (1.7%) $169,937 (9.3%) 0.00 134
    2018-05-01 $130,000 (6.6%) $194,503 (25.6%) 0.00 135
    2018-06-01 $129,962 (4.0%) $189,368 (24.1%) 0.00 134
    2018-07-01 $129,975 (2.9%) $188,346 (22.1%) 0.00 136
    2018-08-01 $134,875 (8.6%) $197,010 (24.3%) 0.00 132
    2018-09-01 $145,000 (20.9%) $217,727 (36.4%) 0.00 123
    2018-10-01 $141,700 (16.3%) $212,813 (30.4%) 0.00 123
    2018-11-01 $139,175 (11.3%) $213,932 (28.8%) 0.00 116
    2018-12-01 $135,000 (7.1%) $210,224 (28.5%) 0.00 116
    2019-01-01 $134,750 (11.2%) $215,834 (34.0%) 0.00 111
    2019-02-01 $135,000 (8.3%) $222,641 (36.5%) 0.00 96
    2019-03-01 $135,000 (4.1%) $224,279 (38.1%) 0.00 93
    2019-04-01 $134,975 (2.8%) $223,920 (31.8%) 0.00 93
    2019-05-01 $144,250 (11.0%) $237,766 (22.2%) 0.00 84
    2019-06-01 $150,000 (15.4%) $248,007 (31.0%) 0.00 84
    2019-07-01 $150,375 (15.7%) $232,444 (23.4%) 0.00 89
    2019-08-01 $148,591 (10.2%) $220,312 (11.8%) 0.00 90
    2019-09-01 $147,977 (2.1%) $218,292 (0.3%) 0.00 89
    2019-10-01 $147,568 (4.1%) $218,901 (2.9%) 0.00 86
    2019-11-01 $144,500 (3.8%) $214,002 (0.0%) 0.00 69
    2019-12-01 $140,750 (4.3%) $211,652 (0.7%) 0.00 65
    2020-01-01 $156,575 (16.2%) $226,706 (5.0%) 0.00 58
    2020-02-01 $162,950 (20.7%) $264,578 (18.8%) 0.00 57
    2020-03-01 $165,750 (22.8%) $280,577 (25.1%) 0.00 47
    2020-04-01 $165,113 (22.3%) $279,747 (24.9%) 0.00 50
    2020-05-01 $168,500 (16.8%) $270,869 (13.9%) 0.00 49
    2020-06-01 $151,000 (0.7%) $275,709 (11.2%) 0.00 48
    2020-07-01 $184,750 (22.9%) $295,954 (27.3%) 0.00 49
    2020-08-01 $220,000 (48.1%) $335,095 (52.1%) 0.00 41
    2020-09-01 $195,023 (31.8%) $297,892 (36.5%) 0.00 46
    2020-10-01 $147,950 (0.3%) $217,615 (-0.6%) 0.00 53
    2020-11-01 $152,000 (5.2%) $200,433 (-6.3%) 0.00 54
    2020-12-01 $141,975 (0.9%) $205,442 (-2.9%) 0.00 47
    2021-01-01 $139,900 (-10.7%) $180,461 (-20.4%) 0.00 32
    2021-02-01 $160,975 (-1.2%) $206,621 (-21.9%) 0.00 27
    2021-03-01 $200,000 (20.7%) $218,684 (-22.1%) 0.00 22
    2021-04-01 $239,995 (45.4%) $331,774 (18.6%) 0.00 20
    2021-05-01 $234,495 (39.2%) $400,760 (48.0%) 0.00 22
    2021-06-01 $222,250 (47.2%) $376,433 (36.5%) 0.00 33
    2021-07-01 $225,000 (21.8%) $360,824 (21.9%) 0.00 49
    2021-08-01 $249,723 (13.5%) $354,928 (5.9%) 0.00 52
    2021-09-01 $243,725 (25.0%) $341,988 (14.8%) 0.00 57
    2021-10-01 $225,000 (52.1%) $358,727 (64.8%) 0.00 37
    2021-11-01 $199,375 (31.2%) $256,066 (27.8%) 0.00 32
    2021-12-01 $199,375 (40.4%) $243,477 (18.5%) 0.00 20
    2022-01-01 $191,250 (36.7%) $232,720 (29.0%) 0.00 15
    2022-02-01 $354,125 (120.0%) $338,222 (63.7%) 0.00 11
    2022-03-01 $297,000 (48.5%) $326,467 (49.3%) 0.00 14
    2022-04-01 $265,000 (10.4%) $294,463 (-11.3%) 0.00 27
    2022-05-01 $264,500 (12.8%) $339,394 (-15.3%) 0.00 32
    2022-06-01 $309,900 (39.4%) $348,821 (-7.3%) 0.00 44
    2022-07-01 $385,000 (71.1%) $367,778 (1.9%) 0.00 60
    2022-08-01 $350,000 (40.2%) $341,957 (-3.7%) 0.00 58
    2022-09-01 $349,000 (43.2%) $349,634 (2.2%) 0.00 57
    2022-10-01 $325,000 (44.4%) $352,611 (-1.7%) 0.00 60
    2022-11-01 $324,900 (63.0%) $338,760 (32.3%) 0.00 68
    2022-12-01 $319,950 (60.5%) $336,337 (38.1%) 0.00 67
    2023-01-01 $340,000 (77.8%) $349,272 (50.1%) 0.00 55
    2023-02-01 $380,750 (7.5%) $348,731 (3.1%) 0.00 46
    2023-03-01 $392,500 (32.2%) $363,817 (11.4%) 0.00 47
    2023-04-01 $414,000 (56.2%) $375,741 (27.6%) 0.00 62
    2023-05-01 $424,000 (60.3%) $398,953 (17.6%) 0.00 64
    2023-06-01 $375,450 (21.2%) $412,880 (18.4%) 0.00 81
    2023-07-01 $392,000 (1.8%) $434,831 (18.2%) 0.00 81
    2023-08-01 $421,250 (20.4%) $431,569 (26.2%) 0.00 82
    2023-09-01 $375,000 (7.5%) $420,860 (20.4%) 0.00 87
    2023-10-01 $362,500 (11.5%) $449,360 (27.4%) 0.00 93
    2023-11-01 $352,500 (8.5%) $382,946 (13.0%) 0.00 92
    2023-12-01 $350,000 (9.4%) $375,358 (11.6%) 0.00 90
    2024-01-01 $358,750 (5.5%) $390,294 (11.7%) 0.00 86
    2024-02-01 $380,000 (-0.2%) $391,410 (12.2%) 0.00 83
    2024-03-01 $395,000 (0.6%) $425,122 (16.9%) 0.00 78
    2024-04-01 $360,000 (-13.0%) $409,625 (9.0%) 0.00 87
    2024-05-01 $371,250 (-12.4%) $407,836 (2.2%) 0.00 90
    2024-06-01 $365,000 (-2.8%) $407,132 (-1.4%) 0.00 100
    2024-07-01 $353,875 (-9.7%) $399,233 (-8.2%) 0.00 105
    2024-08-01 $337,200 (-20.0%) $390,446 (-9.5%) 0.00 108
    2024-09-01 $336,750 (-10.2%) $387,965 (-7.8%) 0.00 112
    2024-10-01 $327,700 (-9.6%) $392,460 (-12.7%) 0.00 115
    2024-11-01 $328,950 (-6.7%) $399,033 (4.2%) 0.00 110
    Price's median listing price for 2024-11-01 was $328,950, a difference of $-23,550 (-6.7%) versus the prior year and $1,250 versus the prior month.

    Price's median listing price comes in at 0% of the national average.

    Price's average listing price for 2024-11-01 was $399,033, a difference of $16,087 (4.2%) versus the prior year and $6,573 versus the prior month.

    For the 2024-11-01 period, Price had 110 MLS listings, a difference of -5 listings (-4%) versus the prior month and 18 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Price (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,862 sqft
    2018-02-01 0 days 1,954 sqft
    2018-03-01 0 days 1,936 sqft
    2018-04-01 0 days 1,918 sqft
    2018-05-01 0 days 1,950 sqft
    2018-06-01 0 days 1,898 sqft
    2018-07-01 0 days 1,898 sqft
    2018-08-01 0 days 1,976 sqft
    2018-09-01 0 days 2,100 sqft
    2018-10-01 0 days 2,062 sqft
    2018-11-01 0 days 2,042 sqft
    2018-12-01 0 days 1,984 sqft
    2019-01-01 0 days 1,999 sqft
    2019-02-01 0 days 2,015 sqft
    2019-03-01 0 days 2,023 sqft
    2019-04-01 0 days 2,002 sqft
    2019-05-01 0 days 2,037 sqft
    2019-06-01 0 days 2,112 sqft
    2019-07-01 0 days 1,973 sqft
    2019-08-01 0 days 1,973 sqft
    2019-09-01 0 days 1,973 sqft
    2019-10-01 0 days 1,995 sqft
    2019-11-01 0 days 2,016 sqft
    2019-12-01 0 days 2,101 sqft
    2020-01-01 0 days 2,112 sqft
    2020-02-01 0 days 2,162 sqft
    2020-03-01 0 days 2,225 sqft
    2020-04-01 0 days 2,060 sqft
    2020-05-01 0 days 1,989 sqft
    2020-06-01 0 days 1,933 sqft
    2020-07-01 0 days 2,129 sqft
    2020-08-01 0 days 2,248 sqft
    2020-09-01 0 days 2,284 sqft
    2020-10-01 0 days 1,725 sqft
    2020-11-01 0 days 1,717 sqft
    2020-12-01 0 days 1,670 sqft
    2021-01-01 0 days 1,574 sqft
    2021-02-01 0 days 1,671 sqft
    2021-03-01 0 days 1,694 sqft
    2021-04-01 0 days 1,860 sqft
    2021-05-01 0 days 1,836 sqft
    2021-06-01 0 days 1,729 sqft
    2021-07-01 0 days 1,904 sqft
    2021-08-01 0 days 1,944 sqft
    2021-09-01 0 days 2,008 sqft
    2021-10-01 0 days 1,904 sqft
    2021-11-01 0 days 2,005 sqft
    2021-12-01 0 days 1,877 sqft
    2022-01-01 0 days 1,846 sqft
    2022-02-01 0 days 2,109 sqft
    2022-03-01 0 days 1,951 sqft
    2022-04-01 0 days 1,712 sqft
    2022-05-01 0 days 1,827 sqft
    2022-06-01 0 days 1,842 sqft
    2022-07-01 0 days 1,659 sqft
    2022-08-01 0 days 1,659 sqft
    2022-09-01 0 days 1,658 sqft
    2022-10-01 0 days 1,659 sqft
    2022-11-01 0 days 1,737 sqft
    2022-12-01 0 days 1,678 sqft
    2023-01-01 0 days 1,680 sqft
    2023-02-01 0 days 1,658 sqft
    2023-03-01 0 days 1,658 sqft
    2023-04-01 0 days 1,753 sqft
    2023-05-01 0 days 1,940 sqft
    2023-06-01 0 days 2,167 sqft
    2023-07-01 0 days 2,200 sqft
    2023-08-01 0 days 2,424 sqft
    2023-09-01 0 days 2,080 sqft
    2023-10-01 0 days 2,055 sqft
    2023-11-01 0 days 2,016 sqft
    2023-12-01 0 days 1,960 sqft
    2024-01-01 0 days 1,971 sqft
    2024-02-01 0 days 2,085 sqft
    2024-03-01 0 days 2,112 sqft
    2024-04-01 0 days 2,111 sqft
    2024-05-01 0 days 2,100 sqft
    2024-06-01 0 days 2,138 sqft
    2024-07-01 0 days 2,053 sqft
    2024-08-01 0 days 1,977 sqft
    2024-09-01 0 days 1,980 sqft
    2024-10-01 0 days 1,988 sqft
    2024-11-01 0 days 2,009 sqft
    Price's median listing age (time on market) for 2024-11-01 was 0 days.

    Price's median square footage for active listings during the 2024-11-01 period was 2,009 sqft. One year prior, the average listing was 2,016 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).