Prineville FHA Loan Rates, Closing Costs & Stats

Prineville, OR

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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.

    Prineville's 38 lenders originated 151 FHA loans during 2022. The total origination value was $45,725,000, with an average FHA loan value of $302,815.

    Prineville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Prineville averaged -0.8% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

    Prineville's average FHA mortgage closing costs are $9,990.

    The average rate for the prior week (2023-11-17) was 6.7% and one month ago for the week of 2023-10-20, the average rate was 6.81%.

    The average rate one year ago was 6.13%.

    For refis of the same type during the week of 2023-11-24, the average rate was 0.1%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 25 4.60% $15,582
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 13 5.31% $13,195
    LOANDEPOT.COM, LLC 8 4.88% $14,723
    MANN FINANCIAL INC. 7 5.30% $15,941
    ACADEMY MORTGAGE CORPORATION 4 4.50% $10,677
    CANOPY MORTGAGE, LLC 4 5.09% $15,100
    GENEVA FINANCIAL, LLC 4 4.53% $12,578
    UNITED WHOLESALE MORTGAGE, LLC 4 5.33% $12,383
    QUICKEN LOANS, LLC 4 5.65% $16,431
    CMG MORTGAGE, INC. 3 5.25% $10,305
    GUARANTEED RATE, INC. 3 5.17% $11,864
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 4.83% $19,452
    Willamette Valley Bank 2 4.50% $11,705
    CALIBER HOME LOANS, INC. 2 3.44% $9,609
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.56% $12,379
    LAKEVIEW LOAN SERVICING, LLC 2 5.00% $9,749
    PENNYMAC LOAN SERVICES, LLC 2 3.94% $5,360
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 4.94% $14,619
    HOME POINT FINANCIAL CORPORATION 1 4.63% $10,736
    INLAND BANK & TRUST 1 5.00% $15,645
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 3.25% $17,269
    CHURCHILL MORTGAGE CORPORATION 1 4.63% $20,215
    Carrington Mortgage Services, LLC 1 5.63% $12,827
    MORTGAGE EXPRESS, LLC 1 5.25% $11,165
    OCEANSIDE MORTGAGE COMPANY 1 5.25% $9,462
    ON Q FINANCIAL, INC. 1 3.50% $10,799
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 5.25% $18,049
    Paramount Residential Mortgage Group, Inc. 1 3.99% $9,601
    Wells Fargo Bank 1 4.63% $9,558
    AMERICAN FINANCIAL RESOURCES, INC. 1 4.00% $7,857
    BROKER SOLUTIONS, INC. 1 2.25% $16,403
    RESIDENTIAL BANCORP 1 5.25% $28,459
    S1L, Inc. 1 4.75% $13,402
    AMERISAVE MORTGAGE CORPORATION 1 4.63% $15,969
    U.S. Bank 1 4.99% $9,155
    Golden Empire Mortgage, Inc. 1 4.63% $14,502
    Flagstar Bank, FSB 1 4.19% $10,809
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 4.75% $10,812

    The top Prineville FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 25 FHA loans originated. Their average total fees are $15,582, which is $2,387 higher than the next largest lender, EVERGREEN MONEYSOURCE MORTGAGE COMPANY.

    The lowest fee Prineville FHA lenders (with over 10 loans originated) are EVERGREEN MONEYSOURCE MORTGAGE COMPANY ($13,195), GUILD MORTGAGE COMPANY ($15,582), .

    The lowest rate Prineville FHA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (4.60%), EVERGREEN MONEYSOURCE MORTGAGE COMPANY (5.31%), .

    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 (-4.9%) $536,982 (15.6%) 0.00 131
    2018-05-01 $368,650 (-2.9%) $563,869 (14.6%) 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 $409,936 (16.5%) $745,551 (45.4%) 0.00 190
    2019-09-01 $409,916 (13.9%) $750,987 (47.3%) 0.00 194
    2019-10-01 $404,850 (10.9%) $741,436 (43.5%) 0.00 190
    2019-11-01 $399,900 (1.8%) $747,937 (40.1%) 0.00 166
    2019-12-01 $387,475 (-0.7%) $792,986 (49.0%) 0.00 143
    2020-01-01 $387,000 (3.6%) $813,298 (52.7%) 0.00 130
    2020-02-01 $382,000 (0.0%) $824,112 (44.4%) 0.00 122
    2020-03-01 $402,475 (0.8%) $813,228 (36.8%) 0.00 137
    2020-04-01 $392,175 (-6.9%) $773,852 (27.9%) 0.00 156
    2020-05-01 $405,950 (-3.9%) $789,001 (30.7%) 0.00 143
    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 $429,950 (4.9%) $921,252 (23.6%) 0.00 81
    2020-09-01 $422,000 (3.0%) $880,089 (17.2%) 0.00 80
    2020-10-01 $429,950 (6.2%) $926,983 (25.0%) 0.00 65
    2020-11-01 $444,500 (11.2%) $1,016,529 (35.9%) 0.00 60
    2020-12-01 $415,100 (7.1%) $1,035,234 (30.6%) 0.00 52
    2021-01-01 $428,500 (10.7%) $1,200,686 (47.6%) 0.00 44
    2021-02-01 $470,725 (23.2%) $1,360,083 (65.0%) 0.00 36
    2021-03-01 $453,250 (12.6%) $1,357,909 (67.0%) 0.00 38
    2021-04-01 $522,225 (33.2%) $1,435,406 (85.5%) 0.00 38
    2021-05-01 $675,000 (66.3%) $1,503,619 (90.6%) 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 (14.6%) 0.00 71
    2021-09-01 $557,975 (32.2%) $1,077,668 (22.5%) 0.00 80
    2021-10-01 $574,000 (33.5%) $998,302 (7.7%) 0.00 109
    2021-11-01 $535,500 (20.5%) $1,025,795 (0.9%) 0.00 98
    2021-12-01 $544,225 (31.1%) $1,067,374 (3.1%) 0.00 78
    2022-01-01 $647,500 (51.1%) $1,251,550 (4.2%) 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%) 0.00 138
    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
    Prineville's median listing price for 2023-10-01 was $606,250, a difference of $56,800 (10.3%) versus the prior year and $6,350 versus the prior month.

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

    Prineville's average listing price for 2023-10-01 was $1,039,271, a difference of $149,119 (16.8%) versus the prior year and $-6,441 versus the prior month.

    For the 2023-10-01 period, Prineville had 150 MLS listings, a difference of -5 listings (-3%) versus the prior month and -3 listings (-2%) 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 1,942 sqft
    2020-01-01 0 days 2,001 sqft
    2020-02-01 0 days 1,940 sqft
    2020-03-01 0 days 1,940 sqft
    2020-04-01 0 days 1,931 sqft
    2020-05-01 0 days 1,942 sqft
    2020-06-01 0 days 1,953 sqft
    2020-07-01 0 days 2,005 sqft
    2020-08-01 0 days 1,943 sqft
    2020-09-01 0 days 1,903 sqft
    2020-10-01 0 days 1,917 sqft
    2020-11-01 0 days 1,858 sqft
    2020-12-01 0 days 1,773 sqft
    2021-01-01 0 days 1,813 sqft
    2021-02-01 0 days 1,944 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
    Prineville's median listing age (time on market) for 2023-10-01 was 0 days.

    Prineville's median square footage for active listings during the 2023-10-01 period was 1,950 sqft. One year prior, the average listing was 1,874 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).