Redding FHA Loan Rates, Closing Costs & Stats
REDDING, CA
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.
Redding's 59 lenders originated 462 FHA loans during 2023. The total origination value was $135,290,000, with an average FHA loan value of $292,835.
Redding FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Redding
averaged
5.89%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Redding's average FHA mortgage closing costs are $9,565.
The average rate for the prior week (2024-09-27) was
5.68% and
one month ago for the week of 2024-08-30, the
average rate was 5.94%.
The average rate one year ago was 6.98%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.74%.
Redding 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 Redding level.
The top Redding FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
33 FHA loans originated. Their average total fees are
$11,973, which is $2,976
lower than the next largest lender,
AMERICAN PACIFIC MORTGAGE CORPORATION.
The lowest fee Redding FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($10,962), QUICKEN LOANS, LLC ($11,973), MOVEMENT MORTGAGE, LLC ($12,777), ON Q FINANCIAL, INC. ($13,632) and GUILD MORTGAGE COMPANY ($13,892).
The lowest rate Redding FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.47%), UNITED WHOLESALE MORTGAGE, LLC (6.11%), ACADEMY MORTGAGE CORPORATION (6.15%), QUICKEN LOANS, LLC (6.20%) and PRIMELENDING, A PLAINSCAPITAL COMPANY (6.30%).
Redding FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
REDDING, CA | SHASTA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
REDDING, CA | SHASTA | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Redding (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $321,500 (8.6%) | $403,848 (2.8%) | 1.19 | 601 |
2018-02-01 | $329,225 (9.8%) | $401,777 (0.8%) | 1.20 | 625 |
2018-03-01 | $329,900 (3.0%) | $408,033 (0.2%) | 1.16 | 670 |
2018-04-01 | $329,000 (-0.3%) | $402,410 (-4.4%) | 1.12 | 724 |
2018-05-01 | $329,975 (3.5%) | $413,520 (5.1%) | 1.10 | 786 |
2018-06-01 | $327,500 (3.2%) | $405,212 (4.1%) | 1.09 | 844 |
2018-07-01 | $317,000 (1.2%) | $382,582 (-0.2%) | 1.06 | 871 |
2018-08-01 | $312,425 (1.1%) | $383,511 (-0.3%) | 1.05 | 764 |
2018-09-01 | $324,650 (1.8%) | $395,132 (0.5%) | 1.09 | 763 |
2018-10-01 | $325,125 (1.8%) | $400,445 (2.8%) | 1.10 | 775 |
2018-11-01 | $332,200 (4.8%) | $416,371 (5.5%) | 1.13 | 743 |
2018-12-01 | $329,450 (3.5%) | $421,437 (5.0%) | 1.14 | 713 |
2019-01-01 | $333,350 (3.7%) | $430,589 (6.6%) | 1.15 | 662 |
2019-02-01 | $327,000 (-0.7%) | $430,424 (7.1%) | 1.10 | 659 |
2019-03-01 | $324,943 (-1.5%) | $431,372 (5.7%) | 1.06 | 650 |
2019-04-01 | $327,450 (-0.5%) | $436,114 (8.4%) | 1.04 | 641 |
2019-05-01 | $339,950 (3.0%) | $435,776 (5.4%) | 1.06 | 724 |
2019-06-01 | $339,900 (3.8%) | $434,063 (7.1%) | 1.06 | 803 |
2019-07-01 | $333,575 (5.2%) | $422,672 (10.5%) | 1.04 | 793 |
2019-08-01 | $331,636 (6.2%) | $424,062 (10.6%) | 1.05 | 780 |
2019-09-01 | $330,716 (1.9%) | $426,752 (8.0%) | 1.06 | 781 |
2019-10-01 | $332,852 (2.4%) | $428,546 (7.0%) | 1.07 | 774 |
2019-11-01 | $339,000 (2.1%) | $440,275 (5.7%) | 1.11 | 708 |
2019-12-01 | $336,950 (2.3%) | $445,673 (5.8%) | 1.12 | 614 |
2020-01-01 | $347,850 (4.4%) | $457,451 (6.2%) | 1.16 | 558 |
2020-02-01 | $342,450 (4.7%) | $458,946 (6.6%) | 1.12 | 541 |
2020-03-01 | $357,225 (9.9%) | $466,025 (8.0%) | 1.12 | 558 |
2020-04-01 | $362,900 (10.8%) | $466,691 (7.0%) | 1.14 | 597 |
2020-05-01 | $379,900 (11.8%) | $470,186 (7.9%) | 1.15 | 592 |
2020-06-01 | $394,450 (16.1%) | $486,358 (12.1%) | 1.16 | 556 |
2020-07-01 | $400,575 (20.1%) | $510,485 (20.8%) | 1.16 | 467 |
2020-08-01 | $399,000 (20.3%) | $558,104 (31.6%) | 1.14 | 415 |
2020-09-01 | $398,450 (20.5%) | $586,929 (37.5%) | 1.14 | 415 |
2020-10-01 | $398,750 (19.8%) | $565,627 (32.0%) | 1.14 | 457 |
2020-11-01 | $399,000 (17.7%) | $573,846 (30.3%) | 1.17 | 451 |
2020-12-01 | $414,500 (23.0%) | $589,681 (32.3%) | 1.23 | 387 |
2021-01-01 | $427,000 (22.8%) | $614,662 (34.4%) | 1.27 | 316 |
2021-02-01 | $431,000 (25.9%) | $630,215 (37.3%) | 1.25 | 293 |
2021-03-01 | $426,500 (19.4%) | $618,482 (32.7%) | 1.21 | 301 |
2021-04-01 | $427,475 (17.8%) | $649,269 (39.1%) | 1.16 | 279 |
2021-05-01 | $449,900 (18.4%) | $714,972 (52.1%) | 1.20 | 309 |
2021-06-01 | $456,225 (15.7%) | $700,595 (44.1%) | 1.20 | 347 |
2021-07-01 | $425,000 (6.1%) | $651,532 (27.6%) | 1.12 | 394 |
2021-08-01 | $432,000 (8.3%) | $634,507 (13.7%) | 1.15 | 427 |
2021-09-01 | $439,450 (10.3%) | $639,153 (8.9%) | 1.17 | 438 |
2021-10-01 | $442,750 (11.0%) | $604,308 (6.8%) | 1.18 | 442 |
2021-11-01 | $438,500 (9.9%) | $603,113 (5.1%) | 1.17 | 431 |
2021-12-01 | $438,500 (5.8%) | $598,196 (1.4%) | 1.19 | 376 |
2022-01-01 | $459,900 (7.7%) | $618,810 (0.7%) | 1.24 | 310 |
2022-02-01 | $479,950 (11.4%) | $643,092 (2.0%) | 1.25 | 307 |
2022-03-01 | $489,000 (14.7%) | $675,283 (9.2%) | 1.22 | 338 |
2022-04-01 | $475,000 (11.1%) | $686,254 (5.7%) | 1.13 | 374 |
2022-05-01 | $472,200 (5.0%) | $647,622 (-9.4%) | 1.08 | 411 |
2022-06-01 | $472,000 (3.5%) | $631,175 (-9.9%) | 1.05 | 450 |
2022-07-01 | $430,000 (1.2%) | $593,154 (-9.0%) | 0.97 | 524 |
2022-08-01 | $439,000 (1.6%) | $605,928 (-4.5%) | 1.01 | 533 |
2022-09-01 | $439,125 (-0.1%) | $611,198 (-4.4%) | 1.03 | 539 |
2022-10-01 | $424,900 (-4.0%) | $587,739 (-2.7%) | 1.00 | 538 |
2022-11-01 | $413,200 (-5.8%) | $586,823 (-2.7%) | 0.99 | 513 |
2022-12-01 | $418,000 (-4.7%) | $595,172 (-0.5%) | 1.03 | 434 |
2023-01-01 | $409,200 (-11.0%) | $592,585 (-4.2%) | 1.01 | 395 |
2023-02-01 | $425,000 (-11.5%) | $605,604 (-5.8%) | 1.03 | 368 |
2023-03-01 | $439,825 (-10.1%) | $615,764 (-8.8%) | 1.04 | 352 |
2023-04-01 | $445,000 (-6.3%) | $622,366 (-9.3%) | 1.03 | 350 |
2023-05-01 | $446,248 (-5.5%) | $602,037 (-7.0%) | 1.01 | 401 |
2023-06-01 | $450,000 (-4.7%) | $652,583 (3.4%) | 1.01 | 435 |
2023-07-01 | $455,000 (5.8%) | $622,625 (5.0%) | 1.03 | 484 |
2023-08-01 | $457,150 (4.1%) | $649,948 (7.3%) | 1.05 | 511 |
2023-09-01 | $448,800 (2.2%) | $642,268 (5.1%) | 1.04 | 508 |
2023-10-01 | $431,498 (1.6%) | $632,177 (7.6%) | 1.02 | 491 |
2023-11-01 | $429,900 (4.0%) | $634,743 (8.2%) | 1.02 | 462 |
2023-12-01 | $437,738 (4.7%) | $648,623 (9.0%) | 1.07 | 414 |
2024-01-01 | $432,200 (5.6%) | $666,679 (12.5%) | 1.06 | 365 |
2024-02-01 | $439,000 (3.3%) | $681,131 (12.5%) | 1.06 | 346 |
2024-03-01 | $449,000 (2.1%) | $694,589 (12.8%) | 1.06 | 344 |
2024-04-01 | $441,000 (-0.9%) | $666,956 (7.2%) | 1.03 | 383 |
2024-05-01 | $467,450 (4.8%) | $699,761 (16.2%) | 1.06 | 465 |
2024-06-01 | $453,000 (0.7%) | $632,840 (-3.0%) | 1.02 | 477 |
2024-07-01 | $434,271 (-4.6%) | $626,375 (0.6%) | 0.99 | 516 |
2024-08-01 | $427,000 (-6.6%) | $615,706 (-5.3%) | 0.99 | 536 |
2024-09-01 | $437,400 (-2.5%) | $629,375 (-2.0%) | 0.00 | 546 |
Redding's median listing price comes in at 0% of the national average.
Redding's average listing price for 2024-09-01 was $629,375, a difference of $-12,893 (-2.0%) versus the prior year and $13,669 versus the prior month.
For the 2024-09-01 period, Redding had 546 MLS listings, a difference of 10 listings (2%) versus the prior month and 38 listings (7%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Redding (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 81 days | 1,801 sqft |
2018-02-01 | 63 days | 1,802 sqft |
2018-03-01 | 52 days | 1,827 sqft |
2018-04-01 | 53 days | 1,814 sqft |
2018-05-01 | 47 days | 1,830 sqft |
2018-06-01 | 51 days | 1,818 sqft |
2018-07-01 | 58 days | 1,774 sqft |
2018-08-01 | 61 days | 1,754 sqft |
2018-09-01 | 60 days | 1,785 sqft |
2018-10-01 | 61 days | 1,809 sqft |
2018-11-01 | 62 days | 1,830 sqft |
2018-12-01 | 72 days | 1,827 sqft |
2019-01-01 | 76 days | 1,836 sqft |
2019-02-01 | 72 days | 1,841 sqft |
2019-03-01 | 61 days | 1,827 sqft |
2019-04-01 | 44 days | 1,819 sqft |
2019-05-01 | 39 days | 1,844 sqft |
2019-06-01 | 45 days | 1,810 sqft |
2019-07-01 | 56 days | 1,782 sqft |
2019-08-01 | 59 days | 1,792 sqft |
2019-09-01 | 59 days | 1,805 sqft |
2019-10-01 | 62 days | 1,828 sqft |
2019-11-01 | 65 days | 1,840 sqft |
2019-12-01 | 79 days | 1,819 sqft |
2020-01-01 | 84 days | 1,832 sqft |
2020-02-01 | 60 days | 1,819 sqft |
2020-03-01 | 46 days | 1,882 sqft |
2020-04-01 | 49 days | 1,895 sqft |
2020-05-01 | 49 days | 1,924 sqft |
2020-06-01 | 52 days | 1,978 sqft |
2020-07-01 | 61 days | 1,978 sqft |
2020-08-01 | 52 days | 1,908 sqft |
2020-09-01 | 38 days | 1,904 sqft |
2020-10-01 | 40 days | 1,899 sqft |
2020-11-01 | 46 days | 1,897 sqft |
2020-12-01 | 61 days | 1,919 sqft |
2021-01-01 | 70 days | 1,940 sqft |
2021-02-01 | 33 days | 1,901 sqft |
2021-03-01 | 30 days | 1,901 sqft |
2021-04-01 | 25 days | 1,862 sqft |
2021-05-01 | 21 days | 1,906 sqft |
2021-06-01 | 28 days | 1,952 sqft |
2021-07-01 | 29 days | 1,868 sqft |
2021-08-01 | 36 days | 1,865 sqft |
2021-09-01 | 42 days | 1,883 sqft |
2021-10-01 | 39 days | 1,888 sqft |
2021-11-01 | 41 days | 1,854 sqft |
2021-12-01 | 48 days | 1,841 sqft |
2022-01-01 | 58 days | 1,830 sqft |
2022-02-01 | 36 days | 1,839 sqft |
2022-03-01 | 28 days | 1,861 sqft |
2022-04-01 | 29 days | 1,845 sqft |
2022-05-01 | 35 days | 1,828 sqft |
2022-06-01 | 35 days | 1,820 sqft |
2022-07-01 | 37 days | 1,747 sqft |
2022-08-01 | 50 days | 1,761 sqft |
2022-09-01 | 50 days | 1,774 sqft |
2022-10-01 | 52 days | 1,736 sqft |
2022-11-01 | 63 days | 1,736 sqft |
2022-12-01 | 72 days | 1,736 sqft |
2023-01-01 | 81 days | 1,736 sqft |
2023-02-01 | 71 days | 1,736 sqft |
2023-03-01 | 60 days | 1,779 sqft |
2023-04-01 | 43 days | 1,799 sqft |
2023-05-01 | 36 days | 1,753 sqft |
2023-06-01 | 40 days | 1,800 sqft |
2023-07-01 | 43 days | 1,824 sqft |
2023-08-01 | 50 days | 1,856 sqft |
2023-09-01 | 51 days | 1,800 sqft |
2023-10-01 | 57 days | 1,775 sqft |
2023-11-01 | 65 days | 1,780 sqft |
2023-12-01 | 74 days | 1,799 sqft |
2024-01-01 | 71 days | 1,790 sqft |
2024-02-01 | 54 days | 1,781 sqft |
2024-03-01 | 46 days | 1,828 sqft |
2024-04-01 | 32 days | 1,802 sqft |
2024-05-01 | 35 days | 1,840 sqft |
2024-06-01 | 45 days | 1,826 sqft |
2024-07-01 | 56 days | 1,762 sqft |
2024-08-01 | 55 days | 1,760 sqft |
2024-09-01 | 0 days | 1,793 sqft |
Redding's median square footage for active listings during the 2024-09-01 period was 1,793 sqft. One year prior, the average listing was 1,800 sqft.