San Francisco FHA Loans
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, 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 Francisco's 52 lenders originated 401 FHA loans during 2021. The total origination value was $202,215,000, with an average FHA loan value of $504,277.
San Francisco FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in San Francisco
averaged
4.24%
for the week of 2022-03-25, compared to the national average (all FHA variants) of
4.648% for the same period.
The average rate for the prior week (2022-03-18) was
4.25% and
one month ago for the week of 2022-02-18, the
average rate was 3.78%.
The average rate one year ago was 3.02%.
For refis of the same type during the week of 2022-03-25, the average rate
was 4.17%.
San Francisco 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 Francisco level.
The top San Francisco FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
17 FHA loans originated. Their average total fees are
$12,450, which is $3,001
higher than the next largest lender,
Mr. Cooper ( Nationstar Mortgage ).
The lowest fee San Francisco FHA lenders (with over 10 loans originated) are
Mr. Cooper ( Nationstar Mortgage ) ($9,450), QUICKEN LOANS, LLC ($12,450), UNITED WHOLESALE MORTGAGE, LLC ($20,483), .
The lowest rate San Francisco FHA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (2.49%), QUICKEN LOANS, LLC (2.59%), Mr. Cooper ( Nationstar Mortgage ) (3.04%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - San Francisco (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $832,915 (4.3%) | $1,485,691 (14.7%) | 3.07 | 2,454 |
2018-02-01 | $894,500 (6.6%) | $1,527,161 (11.4%) | 3.23 | 2,923 |
2018-03-01 | $939,000 (5.9%) | $1,557,480 (10.1%) | 3.25 | 3,362 |
2018-04-01 | $981,500 (9.7%) | $1,627,669 (10.6%) | 3.29 | 3,858 |
2018-05-01 | $992,500 (10.4%) | $1,631,792 (10.6%) | 3.31 | 4,356 |
2018-06-01 | $980,000 (8.9%) | $1,586,014 (7.6%) | 3.27 | 4,862 |
2018-07-01 | $922,500 (5.4%) | $1,505,141 (5.4%) | 3.08 | 5,230 |
2018-08-01 | $889,750 (4.7%) | $1,367,976 (-0.2%) | 2.97 | 5,420 |
2018-09-01 | $899,000 (3.9%) | $1,380,708 (-3.8%) | 3.01 | 6,521 |
2018-10-01 | $899,000 (1.0%) | $1,390,218 (-7.7%) | 3.01 | 6,733 |
2018-11-01 | $887,444 (-0.2%) | $1,454,799 (-4.5%) | 2.98 | 6,398 |
2018-12-01 | $849,000 (-2.3%) | $1,321,150 (-14.6%) | 2.91 | 4,585 |
2019-01-01 | $822,444 (-1.3%) | $1,281,720 (-13.7%) | 2.84 | 3,911 |
2019-02-01 | $878,000 (-1.8%) | $1,392,919 (-8.8%) | 2.94 | 4,470 |
2019-03-01 | $905,143 (-3.6%) | $1,481,646 (-4.9%) | 2.95 | 4,885 |
2019-04-01 | $938,000 (-4.4%) | $1,523,268 (-6.4%) | 2.95 | 5,273 |
2019-05-01 | $952,500 (-4.0%) | $1,495,179 (-8.4%) | 2.94 | 5,904 |
2019-06-01 | $949,950 (-3.1%) | $1,469,299 (-7.4%) | 2.92 | 6,445 |
2019-07-01 | $927,000 (0.5%) | $1,511,051 (0.4%) | 2.88 | 6,372 |
2019-08-01 | $910,657 (2.4%) | $1,486,560 (8.7%) | 2.87 | 6,238 |
2019-09-01 | $925,000 (2.9%) | $1,470,599 (6.5%) | 2.94 | 6,177 |
2019-10-01 | $946,500 (5.3%) | $1,522,534 (9.5%) | 3.02 | 6,536 |
2019-11-01 | $949,950 (7.0%) | $1,628,141 (11.9%) | 3.07 | 5,321 |
2019-12-01 | $897,250 (5.7%) | $1,711,252 (29.5%) | 2.99 | 3,202 |
2020-01-01 | $893,500 (8.6%) | $1,682,109 (31.2%) | 2.98 | 2,718 |
2020-02-01 | $969,950 (10.5%) | $1,703,609 (22.3%) | 3.13 | 3,486 |
2020-03-01 | $987,475 (9.1%) | $1,666,066 (12.5%) | 3.09 | 3,860 |
2020-04-01 | $950,000 (1.3%) | $1,566,455 (2.8%) | 2.96 | 3,669 |
2020-05-01 | $999,000 (4.9%) | $1,631,205 (9.1%) | 3.03 | 4,853 |
2020-06-01 | $1,075,000 (13.2%) | $1,673,197 (13.9%) | 3.14 | 5,218 |
2020-07-01 | $1,084,000 (16.9%) | $1,688,769 (11.8%) | 3.11 | 5,348 |
2020-08-01 | $1,050,000 (15.3%) | $1,693,359 (13.9%) | 3.00 | 5,513 |
2020-09-01 | $1,067,444 (15.4%) | $1,710,780 (16.3%) | 3.05 | 5,702 |
2020-10-01 | $1,075,000 (13.6%) | $1,704,790 (12.0%) | 3.07 | 6,146 |
2020-11-01 | $1,050,000 (10.5%) | $1,687,095 (3.6%) | 3.01 | 5,521 |
2020-12-01 | $998,940 (11.3%) | $1,715,364 (0.2%) | 2.93 | 3,965 |
2021-01-01 | $995,000 (11.4%) | $1,765,083 (4.9%) | 2.93 | 3,084 |
2021-02-01 | $999,997 (3.1%) | $1,783,564 (4.7%) | 2.88 | 3,223 |
2021-03-01 | $1,021,500 (3.5%) | $1,869,112 (12.2%) | 2.86 | 3,354 |
2021-04-01 | $1,049,500 (10.5%) | $1,871,486 (19.5%) | 2.82 | 3,430 |
2021-05-01 | $1,088,000 (8.9%) | $1,891,446 (16.0%) | 2.86 | 3,463 |
2021-06-01 | $1,079,000 (0.4%) | $1,809,889 (8.2%) | 2.80 | 3,872 |
2021-07-01 | $999,500 (-7.8%) | $1,709,988 (1.3%) | 2.60 | 4,134 |
2021-08-01 | $995,000 (-5.2%) | $1,648,041 (-2.7%) | 2.62 | 4,245 |
2021-09-01 | $993,500 (-6.9%) | $1,704,806 (-0.4%) | 2.61 | 4,585 |
2021-10-01 | $997,000 (-7.3%) | $1,774,651 (4.1%) | 2.62 | 4,575 |
2021-11-01 | $984,450 (-6.2%) | $1,795,658 (6.4%) | 2.59 | 3,554 |
2021-12-01 | $954,000 (-4.5%) | $1,842,466 (7.4%) | 2.54 | 2,340 |
2022-01-01 | $949,000 (-4.6%) | $1,746,953 (-1.0%) | 2.53 | 2,009 |
San Francisco's median listing price comes in at 253% of the national average.
San Francisco's average listing price for 2022-01-01 was $1,746,953, a difference of $-18,130 (-1.0%) versus the prior year and $-95,513 versus the prior month.
For the 2022-01-01 period, San Francisco had 2,009 MLS listings, a difference of -331 listings (-14%) versus the prior month and -1,075 listings (-35%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - San Francisco (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 31 days | 1,710 sqft |
2018-02-01 | 19 days | 1,736 sqft |
2018-03-01 | 22 days | 1,750 sqft |
2018-04-01 | 23 days | 1,781 sqft |
2018-05-01 | 21 days | 1,803 sqft |
2018-06-01 | 24 days | 1,780 sqft |
2018-07-01 | 29 days | 1,735 sqft |
2018-08-01 | 29 days | 1,701 sqft |
2018-09-01 | 27 days | 1,686 sqft |
2018-10-01 | 31 days | 1,687 sqft |
2018-11-01 | 37 days | 1,655 sqft |
2018-12-01 | 50 days | 1,609 sqft |
2019-01-01 | 49 days | 1,595 sqft |
2019-02-01 | 27 days | 1,631 sqft |
2019-03-01 | 28 days | 1,691 sqft |
2019-04-01 | 28 days | 1,757 sqft |
2019-05-01 | 28 days | 1,811 sqft |
2019-06-01 | 30 days | 1,787 sqft |
2019-07-01 | 35 days | 1,740 sqft |
2019-08-01 | 36 days | 1,726 sqft |
2019-09-01 | 35 days | 1,722 sqft |
2019-10-01 | 34 days | 1,706 sqft |
2019-11-01 | 42 days | 1,703 sqft |
2019-12-01 | 57 days | 1,707 sqft |
2020-01-01 | 54 days | 1,680 sqft |
2020-02-01 | 18 days | 1,723 sqft |
2020-03-01 | 28 days | 1,760 sqft |
2020-04-01 | 37 days | 1,764 sqft |
2020-05-01 | 33 days | 1,760 sqft |
2020-06-01 | 30 days | 1,702 sqft |
2020-07-01 | 30 days | 1,625 sqft |
2020-08-01 | 31 days | 1,569 sqft |
2020-09-01 | 30 days | 1,533 sqft |
2020-10-01 | 29 days | 1,525 sqft |
2020-11-01 | 40 days | 1,500 sqft |
2020-12-01 | 51 days | 1,479 sqft |
2021-01-01 | 46 days | 1,454 sqft |
2021-02-01 | 28 days | 1,485 sqft |
2021-03-01 | 29 days | 1,530 sqft |
2021-04-01 | 30 days | 1,548 sqft |
2021-05-01 | 28 days | 1,562 sqft |
2021-06-01 | 28 days | 1,560 sqft |
2021-07-01 | 28 days | 1,546 sqft |
2021-08-01 | 29 days | 1,548 sqft |
2021-09-01 | 29 days | 1,538 sqft |
2021-10-01 | 30 days | 1,514 sqft |
2021-11-01 | 38 days | 1,502 sqft |
2021-12-01 | 44 days | 1,455 sqft |
2022-01-01 | 39 days | 1,423 sqft |
San Francisco's median square footage for active listings during the 2022-01-01 period was 1,423 sqft. One year prior, the average listing was 1,454 sqft.