Sacramento FHA Loan Rates, Closing Costs & Stats
SACRAMENTO-ROSEVILLE-FOLSOM, 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.
Sacramento's 186 lenders originated 5,531 FHA loans during 2022. The total origination value was $2,304,145,000, with an average FHA loan value of $416,587.
Sacramento FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Sacramento
averaged
6.02%
for the week of 2023-05-26, compared to the national average (all FHA variants) of
6.612% for the same period.
Sacramento's average FHA mortgage closing costs are $11,213.
The average rate for the prior week (2023-05-19) was
5.9% and
one month ago for the week of 2023-04-21, the
average rate was 5.74%.
The average rate one year ago was 4.76%.
For refis of the same type during the week of 2023-05-26, the average rate
was 4.91%.
Sacramento 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 Sacramento level.
The top Sacramento FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
823 FHA loans originated. Their average total fees are
$14,406, which is $284
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Sacramento FHA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($9,314), Lakeview Community Capital, LLC ($9,317), EVERETT FINANCIAL, INC. ($10,270), HOMEAMERICAN MORTGAGE CORPORATION ($11,946) and PENNYMAC LOAN SERVICES, LLC ($12,746).
The lowest rate Sacramento FHA lenders (with over 10 loans originated) are
Lakeview Community Capital, LLC (3.49%), LAKEVIEW LOAN SERVICING, LLC (3.76%), HOMEAMERICAN MORTGAGE CORPORATION (3.78%), PENNYMAC LOAN SERVICES, LLC (4.02%) and DHI MORTGAGE COMPANY, LTD. (4.08%).
Sacramento FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| SACRAMENTO-ROSEVILLE-FOLSOM, CA | EL DORADO | 2022 | $675,050 | $864,200 | $1,044,600 | $1,298,200 |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA | PLACER | 2022 | $675,050 | $864,200 | $1,044,600 | $1,298,200 |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA | SACRAMENTO | 2022 | $675,050 | $864,200 | $1,044,600 | $1,298,200 |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA | YOLO | 2022 | $675,050 | $864,200 | $1,044,600 | $1,298,200 |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA | EL DORADO | 2023 | $763,600 | $977,550 | $1,181,650 | $1,468,500 |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA | PLACER | 2023 | $763,600 | $977,550 | $1,181,650 | $1,468,500 |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA | SACRAMENTO | 2023 | $763,600 | $977,550 | $1,181,650 | $1,468,500 |
| SACRAMENTO-ROSEVILLE-FOLSOM, CA | YOLO | 2023 | $763,600 | $977,550 | $1,181,650 | $1,468,500 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Sacramento (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 | $445,630 (1.4%) | $657,184 (-1.8%) | 1.65 | 3,470 |
| 2018-02-01 | $454,500 (1.0%) | $663,867 (-2.7%) | 1.65 | 3,639 |
| 2018-03-01 | $467,000 (1.7%) | $661,259 (-2.0%) | 1.64 | 3,696 |
| 2018-04-01 | $469,950 (0.2%) | $667,296 (0.1%) | 1.59 | 4,214 |
| 2018-05-01 | $475,000 (0.5%) | $661,387 (0.6%) | 1.59 | 4,879 |
| 2018-06-01 | $469,900 (-0.8%) | $656,751 (-1.1%) | 1.57 | 5,506 |
| 2018-07-01 | $464,950 (1.1%) | $657,857 (0.3%) | 1.55 | 5,846 |
| 2018-08-01 | $459,950 (2.2%) | $647,221 (-0.4%) | 1.54 | 6,200 |
| 2018-09-01 | $449,999 (0.2%) | $632,432 (-0.2%) | 1.51 | 6,413 |
| 2018-10-01 | $449,450 (2.3%) | $629,941 (1.8%) | 1.52 | 6,265 |
| 2018-11-01 | $448,950 (2.1%) | $624,030 (-0.1%) | 1.52 | 5,923 |
| 2018-12-01 | $449,500 (2.4%) | $627,499 (-2.8%) | 1.55 | 5,133 |
| 2019-01-01 | $449,975 (1.0%) | $639,764 (-2.7%) | 1.55 | 4,390 |
| 2019-02-01 | $462,039 (1.7%) | $650,504 (-2.0%) | 1.56 | 4,199 |
| 2019-03-01 | $479,000 (2.6%) | $661,718 (-0.1%) | 1.60 | 4,131 |
| 2019-04-01 | $489,000 (4.1%) | $665,361 (-0.8%) | 1.55 | 4,494 |
| 2019-05-01 | $492,500 (3.7%) | $661,524 (0.0%) | 1.54 | 5,146 |
| 2019-06-01 | $502,163 (6.9%) | $684,750 (4.3%) | 1.57 | 5,591 |
| 2019-07-01 | $499,353 (7.4%) | $679,484 (3.3%) | 1.56 | 5,844 |
| 2019-08-01 | $510,000 (10.9%) | $706,438 (4.8%) | 1.60 | 5,741 |
| 2019-09-01 | $507,896 (12.9%) | $721,932 (7.0%) | 1.60 | 5,053 |
| 2019-10-01 | $487,000 (8.4%) | $678,551 (7.5%) | 1.57 | 5,529 |
| 2019-11-01 | $488,000 (8.7%) | $685,687 (9.9%) | 1.60 | 4,833 |
| 2019-12-01 | $495,000 (10.1%) | $764,076 (21.8%) | 1.65 | 3,685 |
| 2020-01-01 | $492,450 (9.4%) | $706,418 (10.4%) | 1.65 | 3,266 |
| 2020-02-01 | $499,000 (8.0%) | $711,703 (9.4%) | 1.63 | 3,242 |
| 2020-03-01 | $506,750 (5.8%) | $691,940 (4.8%) | 1.59 | 3,552 |
| 2020-04-01 | $499,066 (2.1%) | $676,748 (2.2%) | 1.56 | 3,984 |
| 2020-05-01 | $507,945 (3.1%) | $695,040 (5.1%) | 1.54 | 4,193 |
| 2020-06-01 | $516,881 (2.9%) | $703,100 (2.7%) | 1.52 | 3,946 |
| 2020-07-01 | $525,000 (5.1%) | $720,270 (6.0%) | 1.52 | 3,336 |
| 2020-08-01 | $525,000 (2.9%) | $754,722 (11.3%) | 1.50 | 2,950 |
| 2020-09-01 | $539,950 (6.3%) | $842,386 (24.5%) | 1.55 | 2,938 |
| 2020-10-01 | $545,000 (11.9%) | $808,671 (19.5%) | 1.56 | 2,896 |
| 2020-11-01 | $551,553 (13.0%) | $850,357 (24.0%) | 1.61 | 2,561 |
| 2020-12-01 | $549,000 (10.9%) | $886,866 (16.1%) | 1.63 | 1,998 |
| 2021-01-01 | $565,000 (14.7%) | $960,500 (36.0%) | 1.69 | 1,582 |
| 2021-02-01 | $549,997 (10.2%) | $949,536 (33.4%) | 1.60 | 1,568 |
| 2021-03-01 | $547,450 (8.0%) | $907,130 (31.1%) | 1.55 | 1,681 |
| 2021-04-01 | $574,500 (15.1%) | $932,111 (37.7%) | 1.56 | 1,887 |
| 2021-05-01 | $585,000 (15.2%) | $890,971 (28.2%) | 1.55 | 2,017 |
| 2021-06-01 | $593,500 (14.8%) | $869,020 (23.6%) | 1.56 | 2,346 |
| 2021-07-01 | $595,694 (13.5%) | $859,433 (19.3%) | 1.57 | 2,782 |
| 2021-08-01 | $585,450 (11.5%) | $859,604 (13.9%) | 1.56 | 2,961 |
| 2021-09-01 | $589,000 (9.1%) | $860,208 (2.1%) | 1.57 | 2,957 |
| 2021-10-01 | $594,000 (9.0%) | $873,183 (8.0%) | 1.58 | 2,929 |
| 2021-11-01 | $592,474 (7.4%) | $907,614 (6.7%) | 1.58 | 2,399 |
| 2021-12-01 | $597,000 (8.7%) | $926,403 (4.5%) | 1.62 | 1,767 |
| 2022-01-01 | $619,900 (9.7%) | $944,041 (-1.7%) | 1.68 | 1,476 |
| 2022-02-01 | $628,125 (14.2%) | $938,142 (-1.2%) | 1.63 | 1,532 |
| 2022-03-01 | $629,475 (15.0%) | $902,828 (-0.5%) | 1.58 | 1,767 |
| 2022-04-01 | $649,000 (13.0%) | $899,087 (-3.5%) | 1.55 | 2,106 |
| 2022-05-01 | $649,496 (11.0%) | $905,948 (1.7%) | 1.48 | 3,072 |
| 2022-06-01 | $643,036 (8.4%) | $885,721 (1.9%) | 1.43 | 3,804 |
| 2022-07-01 | $629,900 (5.7%) | $885,992 (3.1%) | 1.42 | 4,654 |
| 2022-08-01 | $614,475 (5.0%) | $912,469 (6.2%) | 1.42 | 4,756 |
| 2022-09-01 | $600,000 (1.9%) | $854,156 (-0.7%) | 1.40 | 4,475 |
| 2022-10-01 | $599,000 (0.8%) | $835,094 (-4.4%) | 1.41 | 4,372 |
| 2022-11-01 | $589,950 (-0.4%) | $836,413 (-7.8%) | 1.42 | 3,987 |
| 2022-12-01 | $588,125 (-1.5%) | $852,383 (-8.0%) | 1.45 | 3,212 |
| 2023-01-01 | $594,875 (-4.0%) | $861,845 (-8.7%) | 1.47 | 2,648 |
| 2023-02-01 | $604,500 (-3.8%) | $893,049 (-4.8%) | 1.46 | 2,266 |
| 2023-03-01 | $627,000 (-0.4%) | $922,545 (2.2%) | 1.48 | 2,024 |
| 2023-04-01 | $660,000 (1.7%) | $942,676 (0.0%) | 1.53 | 1,945 |
Sacramento's median listing price comes in at 153% of the national average.
Sacramento's average listing price for 2023-04-01 was $942,676, a difference of $43,589 (0.0%) versus the prior year and $20,131 versus the prior month.
For the 2023-04-01 period, Sacramento had 1,945 MLS listings, a difference of -79 listings (-4%) versus the prior month and -161 listings (-8%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Sacramento (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 54 days | 1,837 sqft |
| 2018-02-01 | 37 days | 1,875 sqft |
| 2018-03-01 | 35 days | 1,889 sqft |
| 2018-04-01 | 33 days | 1,893 sqft |
| 2018-05-01 | 31 days | 1,902 sqft |
| 2018-06-01 | 35 days | 1,892 sqft |
| 2018-07-01 | 37 days | 1,870 sqft |
| 2018-08-01 | 39 days | 1,867 sqft |
| 2018-09-01 | 42 days | 1,838 sqft |
| 2018-10-01 | 47 days | 1,835 sqft |
| 2018-11-01 | 51 days | 1,843 sqft |
| 2018-12-01 | 58 days | 1,836 sqft |
| 2019-01-01 | 64 days | 1,839 sqft |
| 2019-02-01 | 51 days | 1,860 sqft |
| 2019-03-01 | 45 days | 1,908 sqft |
| 2019-04-01 | 38 days | 1,937 sqft |
| 2019-05-01 | 36 days | 1,939 sqft |
| 2019-06-01 | 38 days | 2,000 sqft |
| 2019-07-01 | 44 days | 1,977 sqft |
| 2019-08-01 | 53 days | 2,016 sqft |
| 2019-09-01 | 59 days | 2,012 sqft |
| 2019-10-01 | 58 days | 1,937 sqft |
| 2019-11-01 | 64 days | 1,924 sqft |
| 2019-12-01 | 77 days | 1,949 sqft |
| 2020-01-01 | 70 days | 1,921 sqft |
| 2020-02-01 | 45 days | 1,925 sqft |
| 2020-03-01 | 43 days | 1,947 sqft |
| 2020-04-01 | 44 days | 1,915 sqft |
| 2020-05-01 | 51 days | 1,950 sqft |
| 2020-06-01 | 49 days | 1,959 sqft |
| 2020-07-01 | 52 days | 1,940 sqft |
| 2020-08-01 | 38 days | 1,933 sqft |
| 2020-09-01 | 36 days | 1,925 sqft |
| 2020-10-01 | 36 days | 1,913 sqft |
| 2020-11-01 | 39 days | 1,904 sqft |
| 2020-12-01 | 45 days | 1,877 sqft |
| 2021-01-01 | 49 days | 1,890 sqft |
| 2021-02-01 | 32 days | 1,833 sqft |
| 2021-03-01 | 27 days | 1,795 sqft |
| 2021-04-01 | 27 days | 1,859 sqft |
| 2021-05-01 | 28 days | 1,833 sqft |
| 2021-06-01 | 26 days | 1,820 sqft |
| 2021-07-01 | 28 days | 1,809 sqft |
| 2021-08-01 | 31 days | 1,792 sqft |
| 2021-09-01 | 33 days | 1,791 sqft |
| 2021-10-01 | 33 days | 1,774 sqft |
| 2021-11-01 | 37 days | 1,757 sqft |
| 2021-12-01 | 43 days | 1,754 sqft |
| 2022-01-01 | 41 days | 1,798 sqft |
| 2022-02-01 | 25 days | 1,801 sqft |
| 2022-03-01 | 25 days | 1,815 sqft |
| 2022-04-01 | 25 days | 1,850 sqft |
| 2022-05-01 | 24 days | 1,847 sqft |
| 2022-06-01 | 29 days | 1,840 sqft |
| 2022-07-01 | 32 days | 1,829 sqft |
| 2022-08-01 | 39 days | 1,803 sqft |
| 2022-09-01 | 45 days | 1,821 sqft |
| 2022-10-01 | 47 days | 1,809 sqft |
| 2022-11-01 | 51 days | 1,806 sqft |
| 2022-12-01 | 63 days | 1,809 sqft |
| 2023-01-01 | 67 days | 1,825 sqft |
| 2023-02-01 | 52 days | 1,857 sqft |
| 2023-03-01 | 43 days | 1,902 sqft |
| 2023-04-01 | 36 days | 1,996 sqft |
Sacramento's median square footage for active listings during the 2023-04-01 period was 1,996 sqft. One year prior, the average listing was 1,850 sqft.