Red Bluff FHA Loan Rates, Closing Costs & Stats

Red Bluff, CA

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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.

    Red Bluff's 44 lenders originated 162 FHA loans during 2023. The total origination value was $46,920,000, with an average FHA loan value of $289,630.

    Red Bluff FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Red Bluff averaged -0.25% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Red Bluff's average FHA mortgage closing costs are $9,553.

    The average rate for the prior week (2024-11-08) was 6.15% and one month ago for the week of 2024-10-11, the average rate was 5.96%.

    The average rate one year ago was 7.2%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.2%.

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

    Red Bluff 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 Red Bluff level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    PRIMELENDING, A PLAINSCAPITAL COMPANY 16 6.47% $14,902
    SUMMIT FUNDING, INC. 13 6.66% $14,804
    AMERICAN PACIFIC MORTGAGE CORPORATION 9 7.08% $15,803
    QUICKEN LOANS, LLC 8 6.40% $11,600
    UNITED WHOLESALE MORTGAGE, LLC 7 6.43% $11,006
    NEWREZ LLC 5 7.13% $15,557
    Sierra Pacific Mortgage Company, Inc. 5 6.48% $17,147
    MEGASTAR FINANCIAL CORP. 5 6.68% $14,173
    FREEDOM MORTGAGE CORPORATION 4 6.44% $16,368
    GUILD MORTGAGE COMPANY 4 6.50% $13,722
    MOVEMENT MORTGAGE, LLC 4 6.69% $13,097
    Paramount Residential Mortgage Group, Inc. 3 6.71% $14,553
    ACADEMY MORTGAGE CORPORATION 3 6.04% $16,309
    LOANDEPOT.COM, LLC 3 6.04% $13,891
    PENNYMAC LOAN SERVICES, LLC 3 6.04% $14,454
    ON Q FINANCIAL, INC. 3 6.63% $16,712
    NATIONS DIRECT MORTGAGE, LLC 3 6.67% $12,152
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.25% $14,605
    CARDINAL FINANCIAL 2 6.50% $12,272
    LAND HOME FINANCIAL SERVICES, INC. 2 5.94% $13,751
    MID AMERICA MORTGAGE, INC. 2 6.50% $5,758
    American Mortgage & Equity Consultants, Inc. 2 6.00% $13,133
    Commerce Home Mortgage, Inc. 2 6.25% $11,786
    Century Mortgage Company DBA Century Lending Company 1 6.75% $7,087
    MORTGAGEONE, INC. 1 6.63% $9,319
    VILLAGE CAPITAL MORTGAGE 1 5.88% $10,286
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $21,162
    CALIBER HOME LOANS, INC. 1 6.75% $12,512
    CALCON MUTUAL MORTGAGE LLC 1 6.75% $11,266
    BROKER SOLUTIONS, INC. 1 5.75% $14,408
    AmeriHome Mortgage Company, LLC 1 6.75% $14,979
    CORNERSTONE HOME LENDING, INC. 1 5.50% $8,658
    Cornerstone First Mortgage, Inc 1 5.75% $14,831
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $13,036
    Equity Prime Mortgage LLC 1 6.50% $14,140
    Flagstar Bank, FSB 1 5.88% $21,080
    Franklin Loan Corporation 1 6.25% $16,842
    GENEVA FINANCIAL, LLC 1 6.75% $19,902
    VERITAS FUNDING, LLC 1 6.75% $13,012
    INTERCAP LENDING INC. 1 5.63% $9,816
    JPMorgan Chase Bank 1 6.00% $6,342
    Lakeview Community Capital, LLC 1 6.25% $13,083
    LIBERTY HOME MORTGAGE CORPORATION 1 6.50% $14,690
    MASON MCDUFFIE MORTGAGE CORPORATION 1 6.63% $8,173

    The top Red Bluff FHA lender as defined by loan originations is PRIMELENDING, A PLAINSCAPITAL COMPANY, with 16 FHA loans originated. Their average total fees are $14,902, which is $98 higher than the next largest lender, SUMMIT FUNDING, INC..

    The lowest fee Red Bluff FHA lenders (with over 10 loans originated) are SUMMIT FUNDING, INC. ($14,804), PRIMELENDING, A PLAINSCAPITAL COMPANY ($14,902), .

    The lowest rate Red Bluff FHA lenders (with over 10 loans originated) are PRIMELENDING, A PLAINSCAPITAL COMPANY (6.47%), SUMMIT FUNDING, INC. (6.66%), .

    Red Bluff FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Red Bluff (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 $267,500 (5.5%) $383,424 (7.7%) 0.00 217
    2018-02-01 $281,213 (7.5%) $393,798 (9.6%) 0.00 218
    2018-03-01 $292,450 (8.3%) $377,067 (3.9%) 0.00 235
    2018-04-01 $289,225 (8.7%) $390,564 (6.7%) 0.00 275
    2018-05-01 $290,125 (7.9%) $388,245 (4.9%) 0.00 271
    2018-06-01 $299,000 (13.0%) $431,330 (19.9%) 0.00 270
    2018-07-01 $294,250 (13.2%) $416,426 (19.0%) 0.00 304
    2018-08-01 $289,375 (12.4%) $397,951 (15.3%) 0.00 330
    2018-09-01 $290,750 (14.1%) $389,974 (12.5%) 0.00 325
    2018-10-01 $289,250 (5.2%) $383,996 (7.3%) 0.00 330
    2018-11-01 $289,000 (3.2%) $376,688 (2.4%) 0.00 308
    2018-12-01 $299,000 (6.8%) $388,936 (2.6%) 0.00 253
    2019-01-01 $319,500 (19.4%) $392,419 (2.4%) 0.00 227
    2019-02-01 $319,000 (13.4%) $386,482 (-1.9%) 0.00 224
    2019-03-01 $321,000 (9.8%) $396,354 (5.1%) 0.00 214
    2019-04-01 $329,250 (13.8%) $405,945 (3.9%) 0.00 212
    2019-05-01 $331,225 (14.2%) $407,695 (5.0%) 0.00 232
    2019-06-01 $325,000 (8.7%) $415,476 (-3.7%) 0.00 245
    2019-07-01 $339,700 (15.5%) $431,173 (3.5%) 0.00 267
    2019-08-01 $337,782 (16.7%) $445,486 (11.9%) 0.00 275
    2019-09-01 $334,530 (15.1%) $442,620 (13.5%) 0.00 277
    2019-10-01 $333,861 (15.4%) $440,709 (14.8%) 0.00 277
    2019-11-01 $339,000 (17.3%) $421,308 (11.9%) 0.00 254
    2019-12-01 $335,475 (12.2%) $421,223 (8.3%) 0.00 238
    2020-01-01 $319,975 (0.2%) $423,035 (7.8%) 0.00 223
    2020-02-01 $299,900 (-6.0%) $395,388 (2.3%) 0.00 223
    2020-03-01 $307,000 (-4.4%) $399,487 (0.8%) 0.00 235
    2020-04-01 $307,450 (-6.6%) $405,177 (-0.2%) 0.00 220
    2020-05-01 $321,900 (-2.8%) $416,437 (2.1%) 0.00 189
    2020-06-01 $342,250 (5.3%) $433,857 (4.4%) 0.00 170
    2020-07-01 $357,225 (5.2%) $439,132 (1.9%) 0.00 142
    2020-08-01 $379,900 (12.5%) $454,040 (1.9%) 0.00 141
    2020-09-01 $380,000 (13.6%) $464,482 (4.9%) 0.00 155
    2020-10-01 $379,500 (13.7%) $482,919 (9.6%) 0.00 161
    2020-11-01 $394,450 (16.4%) $485,477 (15.2%) 0.00 156
    2020-12-01 $363,750 (8.4%) $466,937 (10.9%) 0.00 154
    2021-01-01 $396,250 (23.8%) $491,196 (16.1%) 0.00 134
    2021-02-01 $414,563 (38.2%) $518,918 (31.2%) 0.00 108
    2021-03-01 $438,000 (42.7%) $539,191 (35.0%) 0.00 95
    2021-04-01 $416,975 (35.6%) $525,307 (29.7%) 0.00 114
    2021-05-01 $399,000 (24.0%) $555,667 (33.4%) 0.00 117
    2021-06-01 $422,250 (23.4%) $563,285 (29.8%) 0.00 104
    2021-07-01 $444,000 (24.3%) $731,927 (66.7%) 0.00 114
    2021-08-01 $399,675 (5.2%) $661,377 (45.7%) 0.00 128
    2021-09-01 $386,225 (1.6%) $637,906 (37.3%) 0.00 145
    2021-10-01 $399,450 (5.3%) $658,957 (36.5%) 0.00 144
    2021-11-01 $383,000 (-2.9%) $638,791 (31.6%) 0.00 146
    2021-12-01 $399,000 (9.7%) $640,934 (37.3%) 0.00 129
    2022-01-01 $399,900 (0.9%) $645,799 (31.5%) 0.00 119
    2022-02-01 $374,725 (-9.6%) $642,175 (23.8%) 0.00 116
    2022-03-01 $399,700 (-8.7%) $639,952 (18.7%) 0.00 119
    2022-04-01 $399,000 (-4.3%) $508,912 (-3.1%) 0.00 134
    2022-05-01 $425,000 (6.5%) $570,167 (2.6%) 0.00 170
    2022-06-01 $447,500 (6.0%) $570,215 (1.2%) 0.00 190
    2022-07-01 $437,000 (-1.6%) $551,077 (-24.7%) 0.00 208
    2022-08-01 $427,450 (7.0%) $524,530 (-20.7%) 0.00 231
    2022-09-01 $410,250 (6.2%) $512,445 (-19.7%) 0.00 235
    2022-10-01 $410,000 (2.6%) $507,950 (-22.9%) 0.00 243
    2022-11-01 $401,975 (5.0%) $507,729 (-20.5%) 0.00 238
    2022-12-01 $399,000 (0.0%) $521,954 (-18.6%) 0.00 219
    2023-01-01 $399,425 (-0.1%) $516,177 (-20.1%) 0.00 190
    2023-02-01 $399,125 (6.5%) $507,049 (-21.0%) 0.00 183
    2023-03-01 $399,425 (-0.1%) $527,358 (-17.6%) 0.00 164
    2023-04-01 $415,000 (4.0%) $547,023 (7.5%) 0.00 161
    2023-05-01 $413,500 (-2.7%) $548,725 (-3.8%) 0.00 168
    2023-06-01 $419,250 (-6.3%) $571,240 (0.2%) 0.00 179
    2023-07-01 $399,000 (-8.7%) $557,038 (1.1%) 0.00 178
    2023-08-01 $395,750 (-7.4%) $541,382 (3.2%) 0.00 189
    2023-09-01 $399,000 (-2.7%) $525,596 (2.6%) 0.00 198
    2023-10-01 $397,500 (-3.1%) $533,240 (5.0%) 0.00 181
    2023-11-01 $390,750 (-2.8%) $530,945 (4.6%) 0.00 192
    2023-12-01 $389,000 (-2.5%) $539,609 (3.4%) 0.00 158
    2024-01-01 $384,000 (-3.9%) $526,283 (2.0%) 0.00 151
    2024-02-01 $394,500 (-1.2%) $521,457 (2.8%) 0.00 148
    2024-03-01 $419,000 (4.9%) $535,793 (1.6%) 0.00 150
    2024-04-01 $421,700 (1.6%) $535,505 (-2.1%) 0.00 178
    2024-05-01 $426,000 (3.0%) $522,334 (-4.8%) 0.00 203
    2024-06-01 $447,000 (6.6%) $528,665 (-7.5%) 0.00 227
    2024-07-01 $432,000 (8.3%) $518,508 (-6.9%) 0.00 233
    2024-08-01 $417,000 (5.4%) $506,097 (-6.5%) 0.00 235
    2024-09-01 $422,500 (5.9%) $504,363 (-4.0%) 0.00 237
    2024-10-01 $420,000 (5.7%) $507,897 (-4.8%) 0.00 240
    Red Bluff's median listing price for 2024-10-01 was $420,000, a difference of $22,500 (5.7%) versus the prior year and $-2,500 versus the prior month.

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

    Red Bluff's average listing price for 2024-10-01 was $507,897, a difference of $-25,343 (-4.8%) versus the prior year and $3,534 versus the prior month.

    For the 2024-10-01 period, Red Bluff had 240 MLS listings, a difference of 3 listings (1%) versus the prior month and 59 listings (33%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Red Bluff (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,748 sqft
    2018-02-01 0 days 1,719 sqft
    2018-03-01 0 days 1,725 sqft
    2018-04-01 0 days 1,722 sqft
    2018-05-01 0 days 1,721 sqft
    2018-06-01 0 days 1,741 sqft
    2018-07-01 0 days 1,751 sqft
    2018-08-01 0 days 1,726 sqft
    2018-09-01 0 days 1,708 sqft
    2018-10-01 0 days 1,703 sqft
    2018-11-01 0 days 1,700 sqft
    2018-12-01 0 days 1,700 sqft
    2019-01-01 0 days 1,717 sqft
    2019-02-01 0 days 1,700 sqft
    2019-03-01 0 days 1,659 sqft
    2019-04-01 0 days 1,656 sqft
    2019-05-01 0 days 1,693 sqft
    2019-06-01 0 days 1,712 sqft
    2019-07-01 0 days 1,703 sqft
    2019-08-01 0 days 1,700 sqft
    2019-09-01 0 days 1,684 sqft
    2019-10-01 0 days 1,674 sqft
    2019-11-01 0 days 1,686 sqft
    2019-12-01 0 days 1,682 sqft
    2020-01-01 0 days 1,657 sqft
    2020-02-01 0 days 1,600 sqft
    2020-03-01 0 days 1,628 sqft
    2020-04-01 0 days 1,660 sqft
    2020-05-01 0 days 1,700 sqft
    2020-06-01 0 days 1,744 sqft
    2020-07-01 0 days 1,766 sqft
    2020-08-01 0 days 1,800 sqft
    2020-09-01 0 days 1,810 sqft
    2020-10-01 0 days 1,753 sqft
    2020-11-01 0 days 1,793 sqft
    2020-12-01 0 days 1,669 sqft
    2021-01-01 0 days 1,726 sqft
    2021-02-01 0 days 1,800 sqft
    2021-03-01 0 days 1,805 sqft
    2021-04-01 0 days 1,762 sqft
    2021-05-01 0 days 1,758 sqft
    2021-06-01 0 days 1,719 sqft
    2021-07-01 0 days 1,680 sqft
    2021-08-01 0 days 1,637 sqft
    2021-09-01 0 days 1,664 sqft
    2021-10-01 0 days 1,727 sqft
    2021-11-01 0 days 1,635 sqft
    2021-12-01 0 days 1,614 sqft
    2022-01-01 0 days 1,618 sqft
    2022-02-01 0 days 1,614 sqft
    2022-03-01 0 days 1,671 sqft
    2022-04-01 0 days 1,680 sqft
    2022-05-01 0 days 1,761 sqft
    2022-06-01 0 days 1,789 sqft
    2022-07-01 0 days 1,724 sqft
    2022-08-01 0 days 1,703 sqft
    2022-09-01 0 days 1,679 sqft
    2022-10-01 0 days 1,682 sqft
    2022-11-01 0 days 1,706 sqft
    2022-12-01 0 days 1,697 sqft
    2023-01-01 0 days 1,697 sqft
    2023-02-01 0 days 1,708 sqft
    2023-03-01 0 days 1,748 sqft
    2023-04-01 0 days 1,768 sqft
    2023-05-01 0 days 1,765 sqft
    2023-06-01 0 days 1,724 sqft
    2023-07-01 0 days 1,684 sqft
    2023-08-01 0 days 1,649 sqft
    2023-09-01 0 days 1,650 sqft
    2023-10-01 0 days 1,660 sqft
    2023-11-01 0 days 1,637 sqft
    2023-12-01 0 days 1,682 sqft
    2024-01-01 0 days 1,615 sqft
    2024-02-01 0 days 1,644 sqft
    2024-03-01 0 days 1,701 sqft
    2024-04-01 0 days 1,715 sqft
    2024-05-01 0 days 1,734 sqft
    2024-06-01 0 days 1,822 sqft
    2024-07-01 0 days 1,777 sqft
    2024-08-01 0 days 1,748 sqft
    2024-09-01 0 days 1,694 sqft
    2024-10-01 0 days 1,687 sqft
    Red Bluff's median listing age (time on market) for 2024-10-01 was 0 days.

    Red Bluff's median square footage for active listings during the 2024-10-01 period was 1,687 sqft. One year prior, the average listing was 1,660 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).