San Diego FHA Loans

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 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).