Riverton FHA Loan Rates, Closing Costs & Stats

Riverton, WY

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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.

    Riverton's 29 lenders originated 71 FHA loans during 2023. The total origination value was $17,075,000, with an average FHA loan value of $240,493.

    Riverton FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Riverton averaged 6.7% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Riverton's average FHA mortgage closing costs are $7,490.

    The average rate for the prior week (2024-04-12) was 6.89% and one month ago for the week of 2024-03-15, the average rate was 6.56%.

    The average rate one year ago was 6.39%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Riverton 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 Riverton level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 13 6.00% $13,933
    GUILD MORTGAGE COMPANY 8 6.66% $8,911
    GUARANTEED RATE, INC. 5 6.75% $13,588
    UNITED WHOLESALE MORTGAGE, LLC 3 6.44% $7,558
    Plains Commerce Bank 3 6.25% $12,258
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.13% $8,013
    BROKER SOLUTIONS, INC. 3 6.54% $9,363
    Wallick & Volk, Inc. 2 5.88% $2,225
    First Interstate Bank 2 5.88% $6,245
    CRESCENT MORTGAGE COMPANY 1 6.63% $12,427
    CROSSCOUNTRY MORTGAGE, LLC 1 5.99% $7,997
    ACADEMY MORTGAGE CORPORATION 1 7.38% $12,550
    Jonah Bank of Wyoming 1 6.00% $6,071
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $15,189
    MOVEMENT MORTGAGE, LLC 1 5.75% $9,625
    Mr. Cooper ( Nationstar Mortgage ) 1 5.25% $10,271
    M&T Bank 1 6.25% $8,047
    Paramount Residential Mortgage Group, Inc. 1 6.75% $12,046
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $10,511
    V.I.P. MORTGAGE, INC. 1 5.25% $9,498
    FREEDOM MORTGAGE CORPORATION 1 6.75% $13,013
    AMERICAN FINANCIAL NETWORK, INC. 1 8.25% $14,196
    BAY EQUITY LLC 1 6.38% $9,228
    Carrington Mortgage Services, LLC 1 5.50% $12,573
    CENTENNIAL LENDING, LLC 1 7.25% $8,369
    Chickasaw Community Bank 1 6.75% $13,023
    CMG MORTGAGE, INC. 1 7.38% $6,567
    Colonial Savings, F.A. 1 5.88% $6,670
    CORNERSTONE HOME LENDING, INC. 1 7.75% $14,360

    The top Riverton FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 13 FHA loans originated. Their average total fees are $13,933, which is $5,022 higher than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Riverton FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($13,933), .

    The lowest rate Riverton FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.00%), .

    Riverton FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Riverton (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 $245,000 (23.2%) $307,341 (12.0%) 0.00 297
    2018-02-01 $235,000 (18.0%) $300,481 (6.7%) 0.00 305
    2018-03-01 $229,000 (15.1%) $294,495 (3.7%) 0.00 313
    2018-04-01 $229,000 (11.7%) $285,971 (-1.2%) 0.00 320
    2018-05-01 $239,000 (9.9%) $288,545 (0.0%) 0.00 320
    2018-06-01 $242,500 (9.9%) $298,227 (1.7%) 0.00 320
    2018-07-01 $244,875 (9.7%) $301,117 (1.4%) 0.00 319
    2018-08-01 $236,000 (4.2%) $302,713 (2.3%) 0.00 313
    2018-09-01 $230,000 (2.2%) $300,703 (1.9%) 0.00 308
    2018-10-01 $229,900 (1.1%) $293,254 (-2.2%) 0.00 300
    2018-11-01 $229,950 (-2.2%) $302,970 (2.3%) 0.00 291
    2018-12-01 $235,000 (2.6%) $307,478 (6.5%) 0.00 275
    2019-01-01 $229,925 (-6.2%) $299,137 (-2.7%) 0.00 266
    2019-02-01 $217,000 (-7.7%) $288,384 (-4.0%) 0.00 273
    2019-03-01 $221,000 (-3.5%) $288,040 (-2.2%) 0.00 261
    2019-04-01 $229,000 (0.0%) $286,051 (0.0%) 0.00 266
    2019-05-01 $229,000 (-4.2%) $279,633 (-3.1%) 0.00 296
    2019-06-01 $229,000 (-5.6%) $284,881 (-4.5%) 0.00 318
    2019-07-01 $230,000 (-6.1%) $289,789 (-3.8%) 0.00 321
    2019-08-01 $230,727 (-2.2%) $287,029 (-5.2%) 0.00 312
    2019-09-01 $230,318 (0.1%) $282,698 (-6.0%) 0.00 298
    2019-10-01 $234,545 (2.0%) $285,536 (-2.6%) 0.00 273
    2019-11-01 $242,500 (5.5%) $296,033 (-2.3%) 0.00 242
    2019-12-01 $239,000 (1.7%) $294,417 (-4.3%) 0.00 225
    2020-01-01 $239,000 (4.0%) $295,640 (-1.2%) 0.00 211
    2020-02-01 $234,950 (8.3%) $290,193 (0.6%) 0.00 213
    2020-03-01 $229,975 (4.1%) $290,459 (0.8%) 0.00 212
    2020-04-01 $224,925 (-1.8%) $283,597 (-0.9%) 0.00 198
    2020-05-01 $219,000 (-4.4%) $285,955 (2.3%) 0.00 214
    2020-06-01 $219,875 (-4.0%) $306,884 (7.7%) 0.00 251
    2020-07-01 $239,000 (3.9%) $316,996 (9.4%) 0.00 261
    2020-08-01 $245,000 (6.2%) $324,829 (13.2%) 0.00 237
    2020-09-01 $248,950 (8.1%) $335,793 (18.8%) 0.00 214
    2020-10-01 $245,000 (4.5%) $333,970 (17.0%) 0.00 198
    2020-11-01 $245,000 (1.0%) $320,245 (8.2%) 0.00 177
    2020-12-01 $245,500 (2.7%) $319,775 (8.6%) 0.00 167
    2021-01-01 $245,000 (2.5%) $310,960 (5.2%) 0.00 154
    2021-02-01 $241,500 (2.8%) $316,225 (9.0%) 0.00 144
    2021-03-01 $250,750 (9.0%) $345,704 (19.0%) 0.00 144
    2021-04-01 $265,000 (17.8%) $367,060 (29.4%) 0.00 137
    2021-05-01 $265,000 (21.0%) $367,879 (28.7%) 0.00 143
    2021-06-01 $295,750 (34.5%) $400,545 (30.5%) 0.00 144
    2021-07-01 $289,000 (20.9%) $531,201 (67.6%) 0.00 143
    2021-08-01 $278,500 (13.7%) $406,319 (25.1%) 0.00 135
    2021-09-01 $315,000 (26.5%) $429,747 (28.0%) 0.00 137
    2021-10-01 $319,450 (30.4%) $435,027 (30.3%) 0.00 144
    2021-11-01 $315,000 (28.6%) $431,902 (34.9%) 0.00 126
    2021-12-01 $319,900 (30.3%) $439,481 (37.4%) 0.00 102
    2022-01-01 $317,450 (29.6%) $449,311 (44.5%) 0.00 83
    2022-02-01 $350,000 (44.9%) $466,447 (47.5%) 0.00 75
    2022-03-01 $371,250 (48.1%) $476,325 (37.8%) 0.00 79
    2022-04-01 $399,500 (50.8%) $534,711 (45.7%) 0.00 93
    2022-05-01 $381,750 (44.1%) $503,399 (36.8%) 0.00 95
    2022-06-01 $375,000 (26.8%) $516,126 (28.9%) 0.00 112
    2022-07-01 $382,500 (32.4%) $504,646 (-5.0%) 0.00 131
    2022-08-01 $385,000 (38.2%) $636,398 (56.6%) 0.00 139
    2022-09-01 $359,500 (14.1%) $597,560 (39.1%) 0.00 144
    2022-10-01 $359,500 (12.5%) $622,231 (43.0%) 0.00 131
    2022-11-01 $352,250 (11.8%) $627,451 (45.3%) 0.00 128
    2022-12-01 $347,500 (8.6%) $544,094 (23.8%) 0.00 116
    2023-01-01 $308,000 (-3.0%) $507,565 (13.0%) 0.00 111
    2023-02-01 $326,000 (-6.9%) $514,953 (10.4%) 0.00 102
    2023-03-01 $323,000 (-13.0%) $523,014 (9.8%) 0.00 95
    2023-04-01 $367,000 (-8.1%) $541,080 (1.2%) 0.00 96
    2023-05-01 $376,750 (-1.3%) $512,117 (1.7%) 0.00 128
    2023-06-01 $375,000 (0.0%) $530,114 (2.7%) 0.00 145
    2023-07-01 $379,000 (-0.9%) $525,712 (4.2%) 0.00 158
    2023-08-01 $396,000 (2.9%) $521,841 (-18.0%) 0.00 160
    2023-09-01 $375,000 (4.3%) $553,269 (-7.4%) 0.00 181
    2023-10-01 $375,000 (4.3%) $562,565 (-9.6%) 0.00 185
    2023-11-01 $394,625 (12.0%) $562,305 (-10.4%) 0.00 151
    2023-12-01 $360,000 (3.6%) $535,425 (-1.6%) 0.00 137
    2024-01-01 $349,250 (13.4%) $496,474 (-2.2%) 0.00 121
    2024-02-01 $348,500 (6.9%) $483,203 (-6.2%) 0.00 129
    2024-03-01 $357,500 (10.7%) $497,806 (-4.8%) 0.00 133
    Riverton's median listing price for 2024-03-01 was $357,500, a difference of $34,500 (10.7%) versus the prior year and $9,000 versus the prior month.

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

    Riverton's average listing price for 2024-03-01 was $497,806, a difference of $-25,208 (-4.8%) versus the prior year and $14,603 versus the prior month.

    For the 2024-03-01 period, Riverton had 133 MLS listings, a difference of 4 listings (3%) versus the prior month and 38 listings (40%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Riverton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,920 sqft
    2018-02-01 0 days 1,920 sqft
    2018-03-01 0 days 1,920 sqft
    2018-04-01 0 days 1,847 sqft
    2018-05-01 0 days 1,878 sqft
    2018-06-01 0 days 1,920 sqft
    2018-07-01 0 days 1,920 sqft
    2018-08-01 0 days 1,920 sqft
    2018-09-01 0 days 1,922 sqft
    2018-10-01 0 days 1,923 sqft
    2018-11-01 0 days 1,931 sqft
    2018-12-01 0 days 1,939 sqft
    2019-01-01 0 days 1,941 sqft
    2019-02-01 0 days 1,920 sqft
    2019-03-01 0 days 1,949 sqft
    2019-04-01 0 days 1,998 sqft
    2019-05-01 0 days 2,012 sqft
    2019-06-01 0 days 1,987 sqft
    2019-07-01 0 days 1,957 sqft
    2019-08-01 0 days 1,965 sqft
    2019-09-01 0 days 1,944 sqft
    2019-10-01 0 days 1,974 sqft
    2019-11-01 0 days 2,016 sqft
    2019-12-01 0 days 2,016 sqft
    2020-01-01 0 days 2,012 sqft
    2020-02-01 0 days 1,978 sqft
    2020-03-01 0 days 1,966 sqft
    2020-04-01 0 days 1,931 sqft
    2020-05-01 0 days 1,912 sqft
    2020-06-01 0 days 1,924 sqft
    2020-07-01 0 days 1,959 sqft
    2020-08-01 0 days 1,991 sqft
    2020-09-01 0 days 1,990 sqft
    2020-10-01 0 days 2,040 sqft
    2020-11-01 0 days 2,068 sqft
    2020-12-01 0 days 2,027 sqft
    2021-01-01 0 days 1,987 sqft
    2021-02-01 0 days 1,976 sqft
    2021-03-01 0 days 2,003 sqft
    2021-04-01 0 days 1,997 sqft
    2021-05-01 0 days 1,920 sqft
    2021-06-01 0 days 1,964 sqft
    2021-07-01 0 days 1,976 sqft
    2021-08-01 0 days 1,807 sqft
    2021-09-01 0 days 1,854 sqft
    2021-10-01 0 days 1,875 sqft
    2021-11-01 0 days 1,903 sqft
    2021-12-01 0 days 1,920 sqft
    2022-01-01 0 days 1,843 sqft
    2022-02-01 0 days 1,825 sqft
    2022-03-01 0 days 1,905 sqft
    2022-04-01 0 days 2,063 sqft
    2022-05-01 0 days 2,011 sqft
    2022-06-01 0 days 1,950 sqft
    2022-07-01 0 days 1,928 sqft
    2022-08-01 0 days 1,966 sqft
    2022-09-01 0 days 1,967 sqft
    2022-10-01 0 days 1,971 sqft
    2022-11-01 0 days 1,965 sqft
    2022-12-01 0 days 1,940 sqft
    2023-01-01 0 days 1,954 sqft
    2023-02-01 0 days 1,925 sqft
    2023-03-01 0 days 1,955 sqft
    2023-04-01 0 days 2,014 sqft
    2023-05-01 0 days 2,040 sqft
    2023-06-01 0 days 2,028 sqft
    2023-07-01 0 days 2,016 sqft
    2023-08-01 0 days 2,043 sqft
    2023-09-01 0 days 2,096 sqft
    2023-10-01 0 days 2,059 sqft
    2023-11-01 0 days 2,110 sqft
    2023-12-01 0 days 2,032 sqft
    2024-01-01 0 days 2,000 sqft
    2024-02-01 0 days 2,000 sqft
    2024-03-01 0 days 2,148 sqft
    Riverton's median listing age (time on market) for 2024-03-01 was 0 days.

    Riverton's median square footage for active listings during the 2024-03-01 period was 2,148 sqft. One year prior, the average listing was 1,955 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).