Riverton FHA Loan Rates, Closing Costs & Stats

Riverton, WY

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 0.24% for the week of 2024-11-29, compared to the national average (all FHA variants) of 0% for the same period.

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

The average rate for the prior week (2024-11-22) was 6.54% and one month ago for the week of 2024-10-25, the average rate was 6.21%.

The average rate one year ago was 7%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.2%.

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
2024-04-01 $377,500 (2.9%) $542,397 (0.2%) 0.00 148
2024-05-01 $381,250 (1.2%) $582,449 (13.7%) 0.00 161
2024-06-01 $425,000 (13.3%) $605,694 (14.3%) 0.00 176
2024-07-01 $449,450 (18.6%) $633,119 (20.4%) 0.00 193
2024-08-01 $449,900 (13.6%) $672,267 (28.8%) 0.00 190
2024-09-01 $487,500 (30.0%) $698,035 (26.2%) 0.00 175
2024-10-01 $495,000 (32.0%) $725,406 (29.0%) 0.00 162
Riverton's median listing price for 2024-10-01 was $495,000, a difference of $120,000 (32.0%) versus the prior year and $7,500 versus the prior month.

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

Riverton's average listing price for 2024-10-01 was $725,406, a difference of $162,841 (29.0%) versus the prior year and $27,371 versus the prior month.

For the 2024-10-01 period, Riverton had 162 MLS listings, a difference of -13 listings (-7%) versus the prior month and -23 listings (-12%) 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
2024-04-01 0 days 2,089 sqft
2024-05-01 0 days 2,158 sqft
2024-06-01 0 days 2,102 sqft
2024-07-01 0 days 2,158 sqft
2024-08-01 0 days 2,092 sqft
2024-09-01 0 days 2,122 sqft
2024-10-01 0 days 2,125 sqft
Riverton's median listing age (time on market) for 2024-10-01 was 0 days.

Riverton's median square footage for active listings during the 2024-10-01 period was 2,125 sqft. One year prior, the average listing was 2,059 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).