San Diego FHA Loan Rates, Closing Costs & Stats

SAN DIEGO-CHULA VISTA-CARLSBAD, 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.

    San Diego's 140 lenders originated 2,613 FHA loans during 2023. The total origination value was $1,552,915,000, with an average FHA loan value of $594,303.

    San Diego FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in San Diego averaged 6.12% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    San Diego's average FHA mortgage closing costs are $14,840.

    The average rate for the prior week (2024-11-01) was 5.99% and one month ago for the week of 2024-10-04, the average rate was 5.91%.

    The average rate one year ago was 7.06%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.55%.

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

    San Diego 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 San Diego level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 669 6.03% $24,291
    QUICKEN LOANS, LLC 201 6.06% $21,144
    LOANDEPOT.COM, LLC 105 5.72% $20,525
    CROSSCOUNTRY MORTGAGE, LLC 94 6.54% $25,168
    POINT Mortgage 55 6.27% $23,193
    PENNYMAC LOAN SERVICES, LLC 52 6.06% $24,140
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 52 6.29% $21,461
    EAGLE HOME MORTGAGE, LLC 29 6.17% $21,248
    BROKER SOLUTIONS, INC. 27 6.43% $20,866
    NEWREZ LLC 27 6.41% $20,216
    KBHS HOME LOANS, LLC 27 5.82% $22,678
    FREEDOM MORTGAGE CORPORATION 25 6.39% $22,527
    SUN WEST MORTGAGE COMPANY, INC. 24 6.28% $23,127
    OCMBC, INC. 24 6.65% $24,181
    AMERICAN FINANCIAL NETWORK, INC. 24 6.22% $23,403
    GUILD MORTGAGE COMPANY 24 6.40% $24,626
    CARDINAL FINANCIAL 22 6.26% $25,818
    GUARANTEED RATE, INC. 21 6.15% $23,654
    HOMEBRIDGE FINANCIAL SERVICES, INC. 20 6.04% $23,248
    Paramount Residential Mortgage Group, Inc. 20 6.82% $21,697
    Century Mortgage Company DBA Century Lending Company 19 6.15% $20,980
    Sierra Pacific Mortgage Company, Inc. 19 6.12% $25,912
    AMERICAN PACIFIC MORTGAGE CORPORATION 18 6.40% $26,226
    Nations Lending Corporation 18 6.17% $16,858
    MOVEMENT MORTGAGE, LLC 18 6.49% $25,302
    SUMMIT FUNDING, INC. 18 6.37% $28,654
    BECKAM FUNDING CORP. 17 7.08% $36,109
    CMG MORTGAGE, INC. 15 6.32% $21,413
    Flagstar Bank, FSB 15 6.26% $24,923
    S1L, Inc. 14 6.39% $26,775
    Golden Empire Mortgage, Inc. 13 6.71% $28,488
    BAY EQUITY LLC 13 6.47% $25,245
    JPMorgan Chase Bank 12 6.24% $17,146
    Mr. Cooper ( Nationstar Mortgage ) 12 6.10% $32,555
    Hometown Equity Mortgage, LLC 11 6.29% $21,073
    Equity Prime Mortgage LLC 11 6.30% $24,135
    GEO-CORP, INC. 10 7.43% $34,956
    MUTUAL OF OMAHA MORTGAGE, INC. 10 6.20% $25,338
    Franklin Loan Corporation 10 6.34% $25,041
    INTERCAP LENDING INC. 10 6.54% $23,542
    Carrington Mortgage Services, LLC 9 6.26% $23,460
    HOMEOWNERS FINANCIAL GROUP USA, LLC 9 6.35% $29,647
    Shea Mortgage Inc. 8 6.41% $19,495
    PLAZA HOME MORTGAGE, INC. 8 6.28% $19,144
    CALCON MUTUAL MORTGAGE LLC 8 6.55% $27,949
    U.S. Bank 8 6.25% $20,336
    PLANET HOME LENDING, LLC 7 6.07% $20,901
    American Mortgage & Equity Consultants, Inc. 7 6.64% $18,105
    EVERETT FINANCIAL, INC. 7 6.80% $18,726
    AXIA FINANCIAL, LLC 7 6.23% $22,782
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 6 6.17% $23,143
    JMJ FINANCIAL GROUP 6 6.54% $28,163
    MORTGAGEONE, INC. 6 6.46% $22,784
    NETWORK CAPITAL FUNDING CORPORATION 6 6.40% $19,023
    MID AMERICA MORTGAGE, INC. 6 5.77% $8,304
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.56% $24,215
    RESIDENTIAL BANCORP 5 6.30% $26,597
    San Diego Funding 5 6.58% $29,318
    Watermark Capital, Inc. 5 5.58% $22,179
    CALIBER HOME LOANS, INC. 5 5.83% $23,589
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.20% $39,602
    Plains Commerce Bank 5 5.85% $19,492
    AMERISAVE MORTGAGE CORPORATION 5 5.50% $30,099
    NP, Inc. 5 7.02% $32,730
    UNION HOME MORTGAGE CORP. 4 6.03% $23,910
    GUARANTEED RATE AFFINITY, LLC 4 6.86% $23,512
    First-Citizens Bank & Trust Company 4 5.67% $18,542
    LADERA LENDING, INC. 4 6.78% $16,156
    LAKEVIEW LOAN SERVICING, LLC 4 6.00% $25,007
    VILLAGE CAPITAL MORTGAGE 4 7.00% $15,546
    NATIONS DIRECT MORTGAGE, LLC 4 6.66% $21,739
    HOMEAMERICAN MORTGAGE CORPORATION 4 5.56% $23,551
    Wells Fargo Bank 3 6.92% $12,868
    AmeriHome Mortgage Company, LLC 3 5.96% $29,522
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.92% $32,114
    PANORAMA MORTGAGE GROUP, LLC 3 6.29% $27,207
    ZILLOW HOME LOANS, LLC 3 6.08% $18,269
    TOP FLITE FINANCIAL, INC. 3 6.83% $11,433
    Prosperity Home Mortgage, LLC 3 6.16% $19,038
    DATA MORTGAGE, INC. 3 6.54% $30,335
    HOMESIDE FINANCIAL, LLC 3 5.63% $22,822
    VERITAS FUNDING, LLC 3 6.17% $24,992
    Mortgage Research Center, LLC 3 6.00% $14,704
    CORNERSTONE HOME LENDING, INC. 2 6.50% $22,273
    Bank of England 2 5.94% $24,674
    Barrington Bank & Trust Company, N.A. 2 5.50% $19,850
    Cornerstone First Mortgage, Inc 2 6.25% $19,629
    GENEVA FINANCIAL, LLC 2 6.94% $28,031
    MORIA DEVELOPMENT, INC. 2 6.56% $27,255
    MOUNTAIN WEST FINANCIAL, INC. 2 5.63% $33,926
    PENTAGON FEDERAL CREDIT UNION 2 5.81% $22,559
    SECURITYNATIONAL MORTGAGE COMPANY 2 7.19% $33,052
    The Federal Savings Bank 2 6.31% $25,693
    M&T Bank 1 6.25% $19,581
    MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 6.25% $7,276
    OCEANSIDE MORTGAGE COMPANY 1 6.63% $16,895
    ML Mortgage Corp. 1 6.25% $27,016
    ONY GLO, INC. 1 5.63% $27,740
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.75% $16,895
    MK LENDING CORP. 1 5.75% $20,048
    MASON MCDUFFIE MORTGAGE CORPORATION 1 6.75% $18,207
    MANN FINANCIAL INC. 1 6.63% $21,157
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $14,748
    Performance Financial, Inc. 1 5.63% $21,792
    PHH Mortgage Corporation 1 5.63% $19,105
    LOANPAL, LLC 1 5.63% $30,753
    ISERVE RESIDENTIAL LENDING, LLC 1 7.13% $21,968
    INSPIRE HOME LOANS INC. 1 5.88% $18,939
    Great Plains National Bank 1 5.63% $11,312
    PREMIA MORTGAGE, LLC 1 6.75% $15,958
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.50% $12,584
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $23,105
    First Savings Bank 1 6.25% $24,393
    FIRST NATIONS HOME FINANCE CORPORATION 1 6.25% $14,471
    Fifth Third Bank 1 6.63% $10,252
    ENVOY MORTGAGE, LTD 1 6.00% $38,931
    EMBRACE HOME LOANS, INC. 1 5.99% $22,174
    ACADEMY MORTGAGE CORPORATION 1 5.75% $34,801
    Commerce Home Mortgage, Inc. 1 6.88% $17,894
    SCHOOLSFIRST 1 5.88% $20,072
    AHL FUNDING 1 7.13% $14,944
    Citizens Bank 1 5.75% $16,006
    CHURCHILL MORTGAGE CORPORATION 1 5.25% $44,632
    ST FIN CORP 1 6.38% $28,525
    CASTLE & COOKE MORTGAGE, LLC 1 5.75% $23,860
    CAMPOS FINANCIAL CORP. 1 6.25% $21,041
    Zions Bank 1 7.13% $23,083
    THE GOLDEN 1 1 6.38% $32,527
    BNC National Bank 1 5.25% $29,574
    BM Real Estate Services, Inc. 1 5.75% $36,700
    BETTER MORTGAGE CORPORATION 1 6.13% $43,481
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.13% $23,984
    Axos Bank 1 6.75% $18,902
    Ameris Bank 1 6.13% $10,922
    V.I.P. MORTGAGE, INC. 1 5.38% $17,541
    AMERICAN FINANCING CORPORATION 1 6.25% $19,109
    Waterstone Mortgage Corporation 1 6.13% $42,266
    NBKC BANK 1 5.38% $13,853
    MY MORTGAGE, INC. 1 6.25% $16,417
    NEW DAY FINANCIAL, LLC 1 6.75% $3,398

    The top San Diego FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 669 FHA loans originated. Their average total fees are $24,291, which is $3,147 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee San Diego FHA lenders (with over 10 loans originated) are Nations Lending Corporation ($16,858), JPMorgan Chase Bank ($17,146), NEWREZ LLC ($20,216), LOANDEPOT.COM, LLC ($20,525) and BROKER SOLUTIONS, INC. ($20,866).

    The lowest rate San Diego FHA lenders (with over 10 loans originated) are LOANDEPOT.COM, LLC (5.72%), KBHS HOME LOANS, LLC (5.82%), UNITED WHOLESALE MORTGAGE, LLC (6.03%), HOMEBRIDGE FINANCIAL SERVICES, INC. (6.04%) and QUICKEN LOANS, LLC (6.06%).

    San Diego FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA SAN DIEGO 2022 $879,750 $1,126,250 $1,361,350 $1,691,850
    SAN DIEGO-CHULA VISTA-CARLSBAD, CA SAN DIEGO 2023 $977,500 $1,251,400 $1,512,650 $1,879,850

    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).