San Diego FHA Loans

SAN DIEGO-CHULA VISTA-CARLSBAD, 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.

San Diego's 180 lenders originated 6,246 FHA loans during 2021. The total origination value was $2,926,240,000, with an average FHA loan value of $468,498.

San Diego FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in San Diego averaged 4.94% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

The average rate for the prior week (2022-05-13) was 5.05% and one month ago for the week of 2022-04-15, the average rate was 4.94%.

The average rate one year ago was 3.11%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.14%.

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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the San Diego level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
UNITED WHOLESALE MORTGAGE, LLC 463 2.65% $15,193
QUICKEN LOANS, LLC 353 2.60% $11,831
FREEDOM MORTGAGE CORPORATION 233 2.62% $9,434
CALIBER HOME LOANS, INC. 219 2.71% $14,011
CROSSCOUNTRY MORTGAGE, LLC 182 2.88% $16,892
LAKEVIEW LOAN SERVICING, LLC 138 2.71% $8,426
GUILD MORTGAGE COMPANY 124 2.84% $15,944
LOANDEPOT.COM, LLC 118 2.88% $15,809
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 108 3.03% $16,828
HOME POINT FINANCIAL CORPORATION 106 2.62% $13,492
HOMEBRIDGE FINANCIAL SERVICES, INC. 102 2.75% $14,726
Mr. Cooper ( Nationstar Mortgage ) 100 2.94% $8,437
PENNYMAC LOAN SERVICES, LLC 97 2.75% $12,412
BROKER SOLUTIONS, INC. 92 2.92% $14,680
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 78 2.87% $16,105
Lakeview Community Capital, LLC 71 2.74% $8,388
NEWREZ LLC 67 2.70% $11,851
FINANCE OF AMERICA MORTGAGE LLC 66 2.77% $15,986
AMERICAN PACIFIC MORTGAGE CORPORATION 65 2.87% $16,199
AMERICAN FINANCIAL NETWORK, INC. 62 2.85% $16,900
Carrington Mortgage Services, LLC 58 3.17% $14,738
MOVEMENT MORTGAGE, LLC 57 3.10% $15,439
SUN WEST MORTGAGE COMPANY, INC. 56 2.98% $14,903
VILLAGE CAPITAL & INVESTMENT LLC 45 2.54% $4,968
PLANET HOME LENDING, LLC 45 2.69% $14,018
First Guaranty Mortgage Corporation 41 2.64% $11,545
Equity Prime Mortgage LLC 41 2.98% $15,252
BAY EQUITY LLC 38 2.92% $14,567
MID AMERICA MORTGAGE, INC. 38 3.09% $2,588
OCMBC, INC. 38 2.89% $14,950
Wallick & Volk, Inc. 36 2.88% $16,776
GUARANTEED RATE, INC. 32 2.79% $15,969
Flagstar Bank, FSB 31 2.79% $13,783
PLAZA HOME MORTGAGE, INC. 30 2.85% $14,663
CMG MORTGAGE, INC. 26 2.89% $15,435
EAGLE HOME MORTGAGE, LLC 26 2.88% $16,075
Commerce Home Mortgage, Inc. 25 3.05% $13,051
PRIMELENDING, A PLAINSCAPITAL COMPANY 24 3.05% $15,009
SUMMIT FUNDING, INC. 23 3.04% $16,201
PANORAMA MORTGAGE GROUP, LLC 23 3.14% $15,225
Hometown Equity Mortgage, LLC 22 3.11% $18,698
GRANDE HOMES, INC. 21 2.61% $13,804
NATIONS DIRECT MORTGAGE, LLC 21 2.93% $17,955
INTERCAP LENDING INC. 21 2.84% $15,536
AMERISAVE MORTGAGE CORPORATION 20 2.72% $12,573
Golden Empire Mortgage, Inc. 19 3.15% $18,504
CELEBRITY HOME LOANS, LLC 19 2.89% $14,123
S1L, Inc. 18 2.83% $15,390
Paramount Residential Mortgage Group, Inc. 18 3.01% $15,776
RESIDENTIAL WHOLESALE MORTGAGE, INC. 17 2.90% $17,860
AmeriHome Mortgage Company, LLC 16 2.84% $8,538
MOUNTAIN WEST FINANCIAL, INC. 15 3.08% $22,077
MORIA DEVELOPMENT, INC. 14 3.16% $16,559
BECKAM FUNDING CORP. 13 3.27% $17,257
STEARNS LENDING, LLC 13 2.76% $12,153
InterContinental Capital Group, Inc 13 2.67% $11,892
JMJ FINANCIAL GROUP 12 2.61% $15,818
MUFG Union Bank 11 2.52% $9,729
KBHS HOME LOANS, LLC 11 2.81% $17,688
WESTERN EXPRESS LENDING 11 2.62% $11,123
San Diego Funding 10 2.74% $16,176
DHI MORTGAGE COMPANY, LTD. 10 2.58% $15,782
Sierra Pacific Mortgage Company, Inc. 9 3.03% $15,589
AXIA FINANCIAL, LLC 9 2.76% $13,441
SOVEREIGN LENDING GROUP INCORPORATED 9 2.31% $13,463
INSPIRE HOME LOANS INC. 9 2.99% $16,790
MUTUAL OF OMAHA MORTGAGE, INC. 9 2.69% $15,182
ARK-LA-TEX FINANCIAL SERVICES, LLC. 9 2.69% $17,609
FIRST NATIONS HOME FINANCE CORPORATION 8 2.95% $15,482
Shea Mortgage Inc. 8 2.70% $11,617
ML Mortgage Corp. 8 2.77% $14,261
AMERICAN FINANCIAL RESOURCES, INC. 7 3.77% $13,326
PRIMARY RESIDENTIAL MORTGAGE, INC. 7 2.96% $13,057
Franklin Loan Corporation 7 2.91% $15,806
CALCON MUTUAL MORTGAGE LLC 6 3.46% $15,872
FBC MORTGAGE, LLC 6 2.54% $14,226
U.S. Bank 6 3.02% $16,477
RESIDENTIAL BANCORP. 6 3.13% $18,397
MEGA CAPITAL FUNDING, INC. 5 2.73% $14,089
CORNERSTONE HOME LENDING, INC. 5 3.25% $14,613
ISERVE RESIDENTIAL LENDING, LLC 5 2.68% $17,638
DIGNIFIED HOME LOANS, LLC 5 2.50% $10,935
LENDUS, LLC 5 2.55% $15,505
Nations Lending Corporation 4 3.13% $19,203
Peoples Bank 4 3.56% $14,130
DATA MORTGAGE, INC. 4 3.34% $17,691
AMCAP MORTGAGE, LTD. 4 3.41% $17,545
Bank of America 4 2.94% $12,415
OCEANSIDE MORTGAGE COMPANY 4 2.44% $6,847
Hometown Lenders, Inc. 4 2.78% $20,984
Barrington Bank & Trust Company, N.A. 4 3.28% $14,414
TOP FLITE FINANCIAL, INC. 4 3.03% $27,298
JPMorgan Chase Bank 4 2.78% $10,755
LADERA LENDING, INC. 4 3.25% $15,421
Amerifirst Financial, Inc. 4 2.97% $13,240
Century Mortgage Company DBA Century Lending Company 3 3.13% $15,545
Residential Mortgage Solutions, Inc. 3 2.58% $11,234
ST FIN CORP 3 2.92% $17,371
Citizens Bank 3 2.88% $14,528
DAS Acquisition Company, LLC 3 3.01% $17,944
EVERETT FINANCIAL, INC. 3 3.54% $14,236
HOMEOWNERS FINANCIAL GROUP USA, LLC 3 2.96% $21,147
LOANLEADERS OF AMERICA, INC. 3 2.96% $9,807
Loan Simple, Inc. 3 2.63% $15,080
MK LENDING CORP. 3 2.75% $16,563
ONY GLO, INC. 3 3.33% $18,063
CAPSTONE DIRECT, INC. 3 2.54% $13,702
Platinum Home Mortgage Corporation 3 2.88% $15,124
INTERNATIONAL CITY MORTGAGE, INC. 2 3.13% $15,711
Home Mortgage Alliance Corp 2 3.19% $12,351
MORTGAGEONE, INC. 2 3.19% $9,928
Mortgage Research Center, LLC 2 2.81% $14,523
Bank of the West 2 3.00% $11,027
HOMEAMERICAN MORTGAGE CORPORATION 2 2.94% $13,865
GUARANTEED RATE AFFINITY, LLC 2 2.69% $12,625
AHL FUNDING 2 3.50% $22,997
GENEVA FINANCIAL, LLC 2 3.13% $14,940
AmRes Corporation 2 2.75% $15,293
First Bank 2 3.13% $13,533
NATIONS RELIABLE LENDING, LLC 2 3.88% $15,602
Neighborhood Loans, Inc. 2 3.25% $17,174
FAY SERVICING, LLC 2 3.13% $9,768
ENVOY MORTGAGE, LTD 2 3.00% $18,081
DIRECT MORTGAGE, CORP. 2 2.38% $31,120
CLEARPATH LENDING 2 2.75% $10,347
WALL FINANCIAL, INC. 2 3.00% $21,967
VISION ONE MORTGAGE, INC. 2 3.19% $7,099
Prosperity Home Mortgage, LLC 2 2.94% $17,821
OPEN MORTGAGE, LLC 2 2.75% $16,815
AMERIFIRST FINANCIAL CORPORATION 2 3.19% $16,373
UNITED SECURITY FINANCIAL CORP 2 2.63% $8,785
THE GOLDEN 1 2 2.88% $14,827
CALCULATED RISK ANALYTICS LLC 2 2.75% $12,733
The Federal Savings Bank 2 2.75% $19,842
AMERICAN FINANCING CORPORATION 2 2.31% $12,941
SECURITYNATIONAL MORTGAGE COMPANY 2 3.81% $18,290
LOANPAL, LLC 2 3.00% $9,213
LAND HOME FINANCIAL SERVICES, INC. 2 3.25% $20,442
JMAC LENDING, INC. 2 2.75% $15,768
PREMIER LENDING, INC. 2 2.81% $17,961
ZILLOW HOME LOANS, LLC 1 3.13% $18,256
Advisors Mortgage Group, L.L.C. 1 2.50% $11,202
ARC HOME LLC 1 2.75% $8,371
BAYSHORE MORTGAGE FUNDING, LLC 1 2.88% $19,736
BETTER MORTGAGE CORPORATION 1 2.25% $19,946
BRIDGELOCK CAPITAL 1 2.75% $16,556
CHERRY CREEK MORTGAGE, LLC 1 3.00% $10,301
CHOICE LENDING CORP. 1 2.75% $32,348
CIT Bank 1 2.75% $15,492
FIRST CENTENNIAL MORTGAGE CORPORATION 1 4.38% $19,276
First Federal Bank 1 2.75% $16,177
First Mortgage Solutions, LLC 1 2.25% $9,839
First Savings Bank 1 2.63% $6,856
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 3.25% $13,370
Goldwater Bank, N.A. 1 3.00% $14,080
HighTechLending Inc 1 2.25% $12,584
HOME APPROVALS DIRECT, INC. 1 3.13% $10,105
HOME FUNDING CORPORATION 1 3.50% $20,601
INLAND BANK & TRUST 1 3.25% $11,562
LENOX FINANCIAL MORTGAGE CORPORATION 1 2.63% $8,785
Low VA Rates, LLC 1 2.50% $1,536
MICHIGAN MUTUAL, INC. 1 2.88% $10,528
NETWORK CAPITAL FUNDING CORPORATION 1 3.50% $15,308
NORWICH COMMERCIAL GROUP, INC. 1 3.25% $5,819
ON Q FINANCIAL, INC. 1 3.50% $11,653
Paramount Bank 1 2.75% $15,888
PARKSIDE LENDING, LLC 1 2.75% $13,606
PARTNERS UNITED FINANCIAL, LLC 1 2.99% $15,767
PHH Mortgage Corporation 1 2.50% $13,070
PNC Bank 1 3.00% $6,912
RANLIFE, INC. 1 3.25% $13,589
ROYAL UNITED MORTGAGE LLC 1 3.25% $15,962
SRE MORTGAGE ALLIANCE INC. 1 3.00% $17,297
SUNSTREET MORTGAGE, LLC 1 2.75% $12,519
UNITED MORTGAGE CORP. 1 2.75% $6,955
VAN DYK MORTGAGE CORPORATION 1 3.63% $16,830
Victorian Finance, LLC 1 3.25% $9,892
Waterstone Mortgage Corporation 1 3.50% $13,123
Wells Fargo Bank 1 4.00% $8,332
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.50% $11,333

The top San Diego FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 463 FHA loans originated. Their average total fees are $15,193, which is $3,363 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee San Diego FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($2,588), VILLAGE CAPITAL & INVESTMENT LLC ($4,968), Lakeview Community Capital, LLC ($8,388), LAKEVIEW LOAN SERVICING, LLC ($8,426) and Mr. Cooper ( Nationstar Mortgage ) ($8,437).

The lowest rate San Diego FHA lenders (with over 10 loans originated) are MUFG Union Bank (2.52%), VILLAGE CAPITAL & INVESTMENT LLC (2.54%), DHI MORTGAGE COMPANY, LTD. (2.58%), QUICKEN LOANS, LLC (2.60%) and GRANDE HOMES, INC. (2.61%).

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

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).