Prineville FHA Loan Rates, Closing Costs & Stats

Prineville, OR

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.

Prineville's 32 lenders originated 125 FHA loans during 2023. The total origination value was $41,765,000, with an average FHA loan value of $334,120.

Prineville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Prineville averaged 6.32% for the week of 2024-05-24, compared to the national average (all FHA variants) of 6.746% for the same period.

Prineville's average FHA mortgage closing costs are $10,649.

The average rate for the prior week (2024-05-17) was 6.41% and one month ago for the week of 2024-04-19, the average rate was 6.43%.

The average rate one year ago was 6.46%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.95%.

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

Prineville 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 Prineville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
GUILD MORTGAGE COMPANY 22 6.06% $17,384
DHI MORTGAGE COMPANY, LTD. 12 5.57% $12,495
MANN FINANCIAL INC. 11 6.13% $10,609
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 8 6.73% $14,384
QUICKEN LOANS, LLC 7 6.09% $14,116
UNITED WHOLESALE MORTGAGE, LLC 7 6.28% $18,077
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.04% $9,682
CMG MORTGAGE, INC. 4 6.16% $11,623
MOVEMENT MORTGAGE, LLC 3 6.71% $12,137
NEWREZ LLC 3 6.42% $13,337
AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.17% $18,667
PENNYMAC LOAN SERVICES, LLC 2 6.69% $12,597
Flagstar Bank, FSB 2 7.38% $9,912
NATIONS DIRECT MORTGAGE, LLC 1 5.75% $12,692
Nations Lending Corporation 1 6.25% $15,970
Northpointe Bank 1 6.25% $12,761
OnPoint Community Credit Union 1 6.50% $11,896
RESIDENTIAL MORTGAGE, LLC 1 6.63% $19,191
The Loan Store, Inc. 1 6.25% $9,949
VERITAS FUNDING, LLC 1 6.25% $29,611
Banner Bank 1 6.63% $11,707
CARDINAL FINANCIAL 1 6.63% $15,016
CHURCHILL MORTGAGE CORPORATION 1 6.13% $17,030
DIRECTORS MORTGAGE, INC. 1 6.13% $23,165
Franklin Loan Corporation 1 7.38% $17,475
FREEDOM MORTGAGE CORPORATION 1 6.25% $17,204
GUARANTEED RATE, INC. 1 6.13% $16,258
LEADERONE FINANCIAL CORPORATION 1 6.63% $10,601
LOANDEPOT.COM, LLC 1 5.50% $16,190
Loan Simple, Inc. 1 5.00% $27,715
Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $18,960
MUTUAL OF OMAHA MORTGAGE, INC. 1 7.50% $13,198

The top Prineville FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 22 FHA loans originated. Their average total fees are $17,384, which is $4,889 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Prineville FHA lenders (with over 10 loans originated) are MANN FINANCIAL INC. ($10,609), DHI MORTGAGE COMPANY, LTD. ($12,495), GUILD MORTGAGE COMPANY ($17,384), .

The lowest rate Prineville FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.57%), GUILD MORTGAGE COMPANY (6.06%), MANN FINANCIAL INC. (6.13%), .

Prineville FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Prineville (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 $357,500 (-3.1%) $594,156 (1.4%) 0.00 109
2018-02-01 $359,175 (-0.7%) $562,357 (4.9%) 0.00 114
2018-03-01 $339,900 (-1.8%) $533,954 (7.3%) 0.00 122
2018-04-01 $332,925 (-4.7%) $536,982 (16.4%) 0.00 131
2018-05-01 $368,650 (-1.7%) $563,869 (15.2%) 0.00 133
2018-06-01 $375,000 (-6.0%) $570,805 (13.5%) 0.00 136
2018-07-01 $364,950 (-6.4%) $547,945 (6.4%) 0.00 154
2018-08-01 $351,975 (-7.0%) $512,721 (2.5%) 0.00 174
2018-09-01 $359,900 (-2.3%) $509,699 (-4.4%) 0.00 183
2018-10-01 $364,925 (-2.3%) $516,596 (-6.0%) 0.00 181
2018-11-01 $393,000 (3.1%) $533,894 (-9.3%) 0.00 170
2018-12-01 $390,000 (13.2%) $532,078 (-7.9%) 0.00 167
2019-01-01 $373,750 (4.6%) $532,702 (-10.3%) 0.00 142
2019-02-01 $382,000 (6.4%) $570,588 (1.5%) 0.00 143
2019-03-01 $399,357 (17.5%) $594,438 (11.3%) 0.00 139
2019-04-01 $421,200 (26.5%) $605,161 (12.7%) 0.00 136
2019-05-01 $422,450 (14.6%) $603,744 (7.1%) 0.00 147
2019-06-01 $407,250 (8.6%) $560,317 (-1.8%) 0.00 183
2019-07-01 $404,925 (11.0%) $560,940 (2.4%) 0.00 192
2019-08-01 $412,664 (17.2%) $745,383 (45.4%) 0.00 190
2019-09-01 $416,734 (15.8%) $750,567 (47.3%) 0.00 195
2019-10-01 $409,448 (12.2%) $740,895 (43.4%) 0.00 191
2019-11-01 $399,950 (1.8%) $747,250 (40.0%) 0.00 167
2019-12-01 $388,500 (-0.4%) $791,884 (48.8%) 0.00 144
2020-01-01 $394,750 (5.6%) $811,956 (52.4%) 0.00 131
2020-02-01 $383,500 (0.4%) $822,325 (44.1%) 0.00 123
2020-03-01 $403,000 (0.9%) $811,758 (36.6%) 0.00 138
2020-04-01 $395,725 (-6.1%) $772,808 (27.7%) 0.00 157
2020-05-01 $407,000 (-3.7%) $787,775 (30.5%) 0.00 144
2020-06-01 $439,000 (7.8%) $864,508 (54.3%) 0.00 117
2020-07-01 $480,500 (18.7%) $906,224 (61.6%) 0.00 98
2020-08-01 $429,900 (4.2%) $922,462 (23.8%) 0.00 80
2020-09-01 $420,000 (0.8%) $881,021 (17.4%) 0.00 79
2020-10-01 $429,900 (5.0%) $928,582 (25.3%) 0.00 64
2020-11-01 $439,500 (9.9%) $1,020,253 (36.5%) 0.00 59
2020-12-01 $410,250 (5.6%) $1,039,597 (31.3%) 0.00 51
2021-01-01 $426,700 (8.1%) $1,209,400 (49.0%) 0.00 43
2021-02-01 $470,725 (22.7%) $1,360,083 (65.4%) 0.00 36
2021-03-01 $453,250 (12.5%) $1,357,909 (67.3%) 0.00 38
2021-04-01 $522,225 (32.0%) $1,435,406 (85.7%) 0.00 38
2021-05-01 $675,000 (65.9%) $1,503,619 (90.9%) 0.00 36
2021-06-01 $533,723 (21.6%) $1,336,266 (54.6%) 0.00 47
2021-07-01 $512,498 (6.7%) $1,230,892 (35.8%) 0.00 58
2021-08-01 $494,250 (15.0%) $1,055,492 (14.4%) 0.00 71
2021-09-01 $557,975 (32.9%) $1,077,668 (22.3%) 0.00 80
2021-10-01 $574,000 (33.5%) $998,302 (7.5%) 0.00 109
2021-11-01 $535,500 (21.8%) $1,025,795 (0.5%) 0.00 98
2021-12-01 $544,225 (32.7%) $1,067,374 (2.7%) 0.00 78
2022-01-01 $647,500 (51.8%) $1,251,550 (3.5%) 0.00 63
2022-02-01 $596,200 (26.7%) $1,268,580 (-6.7%) 0.00 63
2022-03-01 $584,950 (29.1%) $1,198,693 (-11.7%) 0.00 71
2022-04-01 $577,450 (10.6%) $1,050,422 (-26.8%) 0.00 80
2022-05-01 $591,175 (-12.4%) $1,057,849 (-29.7%) 0.00 87
2022-06-01 $569,975 (6.8%) $1,002,047 (-25.0%) 0.00 117
2022-07-01 $554,000 (8.1%) $935,845 (-24.0%) 0.00 139
2022-08-01 $559,975 (13.3%) $953,803 (-9.6%) 0.00 147
2022-09-01 $548,975 (-1.6%) $911,197 (-15.5%) 0.00 162
2022-10-01 $549,450 (-4.3%) $890,152 (-10.8%) 0.00 153
2022-11-01 $519,449 (-3.0%) $874,067 (-14.8%) 0.00 151
2022-12-01 $499,900 (-8.1%) $904,258 (-15.3%) 0.00 137
2023-01-01 $527,224 (-18.6%) $925,360 (-26.1%) 0.00 137
2023-02-01 $525,000 (-11.9%) $923,002 (-27.2%) 0.00 140
2023-03-01 $495,950 (-15.2%) $938,075 (-21.7%) 0.00 129
2023-04-01 $499,900 (-13.4%) $964,200 (-8.2%) 0.00 127
2023-05-01 $497,175 (-15.9%) $987,044 (-6.7%) 0.00 125
2023-06-01 $542,000 (-4.9%) $1,016,673 (1.5%) 0.00 136
2023-07-01 $577,000 (4.2%) $1,047,834 (12.0%) 0.00 158
2023-08-01 $576,500 (3.0%) $1,013,545 (6.3%) 0.00 163
2023-09-01 $599,900 (9.3%) $1,045,712 (14.8%) 0.00 155
2023-10-01 $606,250 (10.3%) $1,039,271 (16.8%) 0.00 150
2023-11-01 $572,225 (10.2%) $985,626 (12.8%) 0.00 151
2023-12-01 $592,000 (18.4%) $1,011,436 (11.9%) 0.00 130
2024-01-01 $599,225 (13.7%) $1,054,074 (13.9%) 0.00 111
2024-02-01 $579,000 (10.3%) $1,044,048 (13.1%) 0.00 114
2024-03-01 $562,450 (13.4%) $987,567 (5.3%) 0.00 109
2024-04-01 $587,500 (17.5%) $933,038 (-3.2%) 0.00 115
Prineville's median listing price for 2024-04-01 was $587,500, a difference of $87,600 (17.5%) versus the prior year and $25,050 versus the prior month.

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

Prineville's average listing price for 2024-04-01 was $933,038, a difference of $-31,162 (-3.2%) versus the prior year and $-54,529 versus the prior month.

For the 2024-04-01 period, Prineville had 115 MLS listings, a difference of 6 listings (6%) versus the prior month and -12 listings (-9%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Prineville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,903 sqft
2018-02-01 0 days 1,894 sqft
2018-03-01 0 days 1,845 sqft
2018-04-01 0 days 1,884 sqft
2018-05-01 0 days 1,909 sqft
2018-06-01 0 days 1,932 sqft
2018-07-01 0 days 1,916 sqft
2018-08-01 0 days 1,859 sqft
2018-09-01 0 days 1,900 sqft
2018-10-01 0 days 1,870 sqft
2018-11-01 0 days 1,913 sqft
2018-12-01 0 days 1,910 sqft
2019-01-01 0 days 1,879 sqft
2019-02-01 0 days 1,903 sqft
2019-03-01 0 days 1,915 sqft
2019-04-01 0 days 1,921 sqft
2019-05-01 0 days 1,947 sqft
2019-06-01 0 days 1,950 sqft
2019-07-01 0 days 1,989 sqft
2019-08-01 0 days 2,049 sqft
2019-09-01 0 days 2,049 sqft
2019-10-01 0 days 2,045 sqft
2019-11-01 0 days 2,042 sqft
2019-12-01 0 days 1,945 sqft
2020-01-01 0 days 2,009 sqft
2020-02-01 0 days 1,942 sqft
2020-03-01 0 days 1,943 sqft
2020-04-01 0 days 1,934 sqft
2020-05-01 0 days 1,944 sqft
2020-06-01 0 days 1,953 sqft
2020-07-01 0 days 2,005 sqft
2020-08-01 0 days 1,940 sqft
2020-09-01 0 days 1,894 sqft
2020-10-01 0 days 1,917 sqft
2020-11-01 0 days 1,848 sqft
2020-12-01 0 days 1,767 sqft
2021-01-01 0 days 1,777 sqft
2021-02-01 0 days 1,924 sqft
2021-03-01 0 days 1,867 sqft
2021-04-01 0 days 2,029 sqft
2021-05-01 0 days 2,276 sqft
2021-06-01 0 days 1,821 sqft
2021-07-01 0 days 1,740 sqft
2021-08-01 0 days 1,905 sqft
2021-09-01 0 days 1,918 sqft
2021-10-01 0 days 1,880 sqft
2021-11-01 0 days 1,852 sqft
2021-12-01 0 days 1,828 sqft
2022-01-01 0 days 1,824 sqft
2022-02-01 0 days 1,711 sqft
2022-03-01 0 days 1,850 sqft
2022-04-01 0 days 1,800 sqft
2022-05-01 0 days 1,879 sqft
2022-06-01 0 days 1,896 sqft
2022-07-01 0 days 1,836 sqft
2022-08-01 0 days 1,888 sqft
2022-09-01 0 days 1,863 sqft
2022-10-01 0 days 1,874 sqft
2022-11-01 0 days 1,853 sqft
2022-12-01 0 days 1,883 sqft
2023-01-01 0 days 2,018 sqft
2023-02-01 0 days 1,988 sqft
2023-03-01 0 days 1,928 sqft
2023-04-01 0 days 1,927 sqft
2023-05-01 0 days 1,871 sqft
2023-06-01 0 days 1,873 sqft
2023-07-01 0 days 1,933 sqft
2023-08-01 0 days 1,889 sqft
2023-09-01 0 days 1,927 sqft
2023-10-01 0 days 1,950 sqft
2023-11-01 0 days 1,910 sqft
2023-12-01 0 days 1,932 sqft
2024-01-01 0 days 2,005 sqft
2024-02-01 0 days 2,061 sqft
2024-03-01 0 days 2,015 sqft
2024-04-01 0 days 2,063 sqft
Prineville's median listing age (time on market) for 2024-04-01 was 0 days.

Prineville's median square footage for active listings during the 2024-04-01 period was 2,063 sqft. One year prior, the average listing was 1,927 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).