San Jose FHA Loan Rates, Closing Costs & Stats
SAN JOSE-SUNNYVALE-SANTA CLARA, 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 Jose's 67 lenders originated 464 FHA loans during 2023. The total origination value was $308,530,000, with an average FHA loan value of $664,935.
San Jose FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in San Jose
averaged
5.92%
for the week of 2024-12-13, compared to the national average (all FHA variants) of
6.277% for the same period.
San Jose's average FHA mortgage closing costs are $16,504.
The average rate for the prior week (2024-12-06) was
5.69% and
one month ago for the week of 2024-11-08, the
average rate was 5.85%.
The average rate one year ago was 6.17%.
For refis of the same type during the week of 2024-12-13, the average rate
was 5.96%.
San Jose 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 Jose level.
The top San Jose FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
64 FHA loans originated. Their average total fees are
$26,231, which is $697
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee San Jose FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($25,534), UNITED WHOLESALE MORTGAGE, LLC ($26,231), LOANDEPOT.COM, LLC ($28,994), KBHS HOME LOANS, LLC ($29,321) and .
The lowest rate San Jose FHA lenders (with over 10 loans originated) are
LOANDEPOT.COM, LLC (5.83%), QUICKEN LOANS, LLC (6.00%), UNITED WHOLESALE MORTGAGE, LLC (6.04%), KBHS HOME LOANS, LLC (6.18%) and .
San Jose FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
SAN JOSE-SUNNYVALE-SANTA CLARA, CA | SAN BENITO | 2022 | $970,800 | $1,243,050 | $1,502,475 | $1,867,275 |
SAN JOSE-SUNNYVALE-SANTA CLARA, CA | SANTA CLARA | 2022 | $970,800 | $1,243,050 | $1,502,475 | $1,867,275 |
SAN JOSE-SUNNYVALE-SANTA CLARA, CA | SAN BENITO | 2023 | $1,089,300 | $1,394,775 | $1,685,850 | $2,095,200 |
SAN JOSE-SUNNYVALE-SANTA CLARA, CA | SANTA CLARA | 2023 | $1,089,300 | $1,394,775 | $1,685,850 | $2,095,200 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - San Jose (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 | $1,110,250 (23.5%) | $1,829,513 (28.2%) | 4.12 | 570 |
2018-02-01 | $1,199,444 (25.7%) | $1,810,776 (21.6%) | 4.35 | 676 |
2018-03-01 | $1,286,500 (32.9%) | $1,861,664 (23.7%) | 4.51 | 799 |
2018-04-01 | $1,254,722 (26.9%) | $1,864,395 (24.4%) | 4.25 | 993 |
2018-05-01 | $1,293,000 (29.4%) | $1,830,306 (11.6%) | 4.32 | 1,198 |
2018-06-01 | $1,250,000 (24.4%) | $1,788,116 (7.2%) | 4.17 | 1,441 |
2018-07-01 | $1,199,944 (14.3%) | $1,710,621 (0.9%) | 4.01 | 1,717 |
2018-08-01 | $1,173,500 (11.8%) | $1,642,858 (-2.2%) | 3.93 | 1,816 |
2018-09-01 | $1,148,000 (4.5%) | $1,618,736 (-13.3%) | 3.86 | 2,058 |
2018-10-01 | $1,099,944 (-1.5%) | $1,590,456 (-14.3%) | 3.73 | 2,146 |
2018-11-01 | $1,089,400 (-6.2%) | $1,539,122 (-21.5%) | 3.69 | 2,052 |
2018-12-01 | $1,000,000 (-13.0%) | $1,507,748 (-23.7%) | 3.45 | 1,459 |
2019-01-01 | $999,888 (-9.9%) | $1,509,950 (-17.5%) | 3.45 | 1,264 |
2019-02-01 | $1,095,250 (-8.7%) | $1,610,619 (-11.1%) | 3.70 | 1,440 |
2019-03-01 | $1,102,769 (-14.3%) | $1,633,737 (-12.2%) | 3.61 | 1,635 |
2019-04-01 | $1,127,230 (-10.2%) | $1,642,203 (-11.9%) | 3.58 | 1,805 |
2019-05-01 | $1,188,000 (-8.1%) | $1,645,599 (-10.1%) | 3.71 | 2,175 |
2019-06-01 | $1,175,000 (-6.0%) | $1,643,142 (-8.1%) | 3.67 | 2,367 |
2019-07-01 | $1,128,250 (-6.0%) | $1,636,619 (-4.3%) | 3.53 | 2,299 |
2019-08-01 | $1,119,909 (-4.6%) | $1,664,443 (1.3%) | 3.55 | 2,190 |
2019-09-01 | $1,122,773 (-2.2%) | $1,681,961 (3.9%) | 3.59 | 2,106 |
2019-10-01 | $1,112,182 (1.1%) | $1,693,639 (6.5%) | 3.59 | 2,021 |
2019-11-01 | $1,100,000 (1.0%) | $1,775,100 (15.3%) | 3.61 | 1,612 |
2019-12-01 | $1,084,194 (8.4%) | $1,798,338 (19.3%) | 3.62 | 989 |
2020-01-01 | $1,088,722 (8.9%) | $1,881,701 (24.6%) | 3.64 | 819 |
2020-02-01 | $1,198,000 (9.4%) | $2,032,748 (26.2%) | 3.92 | 944 |
2020-03-01 | $1,249,805 (13.3%) | $1,990,529 (21.8%) | 3.92 | 1,144 |
2020-04-01 | $1,198,500 (6.3%) | $1,854,244 (12.9%) | 3.75 | 1,349 |
2020-05-01 | $1,200,500 (1.1%) | $1,858,819 (13.0%) | 3.65 | 1,646 |
2020-06-01 | $1,260,000 (7.2%) | $1,856,022 (13.0%) | 3.71 | 1,656 |
2020-07-01 | $1,249,975 (10.8%) | $1,824,368 (11.5%) | 3.62 | 1,681 |
2020-08-01 | $1,248,000 (11.4%) | $1,806,980 (8.6%) | 3.58 | 1,673 |
2020-09-01 | $1,210,000 (7.8%) | $1,789,686 (6.4%) | 3.47 | 1,668 |
2020-10-01 | $1,229,950 (10.6%) | $1,819,909 (7.5%) | 3.52 | 1,690 |
2020-11-01 | $1,232,124 (12.0%) | $1,897,714 (6.9%) | 3.60 | 1,558 |
2020-12-01 | $1,197,000 (10.4%) | $1,865,030 (3.7%) | 3.56 | 1,153 |
2021-01-01 | $1,199,000 (10.1%) | $1,869,161 (-0.7%) | 3.58 | 971 |
2021-02-01 | $1,223,900 (2.2%) | $1,873,351 (-7.8%) | 3.56 | 1,054 |
2021-03-01 | $1,246,692 (-0.3%) | $1,881,183 (-5.5%) | 3.54 | 1,181 |
2021-04-01 | $1,249,500 (4.3%) | $1,898,349 (2.4%) | 3.38 | 1,252 |
2021-05-01 | $1,298,888 (8.2%) | $1,951,204 (5.0%) | 3.45 | 1,243 |
2021-06-01 | $1,299,444 (3.1%) | $1,967,174 (6.0%) | 3.42 | 1,326 |
2021-07-01 | $1,275,000 (2.0%) | $1,889,262 (3.6%) | 3.36 | 1,410 |
2021-08-01 | $1,250,250 (0.2%) | $1,875,379 (3.8%) | 3.33 | 1,367 |
2021-09-01 | $1,262,639 (4.4%) | $1,902,946 (6.3%) | 3.37 | 1,283 |
2021-10-01 | $1,275,000 (3.7%) | $1,977,104 (8.6%) | 3.40 | 1,189 |
2021-11-01 | $1,244,444 (1.0%) | $1,970,988 (3.9%) | 3.33 | 819 |
2021-12-01 | $1,239,416 (3.5%) | $1,941,596 (4.1%) | 3.36 | 532 |
2022-01-01 | $1,298,444 (8.3%) | $1,931,228 (3.3%) | 3.51 | 488 |
2022-02-01 | $1,350,250 (10.3%) | $1,917,902 (2.4%) | 3.51 | 639 |
2022-03-01 | $1,399,500 (12.3%) | $1,936,123 (2.9%) | 3.50 | 784 |
2022-04-01 | $1,439,000 (15.2%) | $1,909,718 (0.6%) | 3.43 | 907 |
2022-05-01 | $1,496,500 (15.2%) | $1,941,803 (-0.5%) | 3.42 | 1,505 |
2022-06-01 | $1,495,000 (15.1%) | $1,967,126 (0.0%) | 3.33 | 1,755 |
2022-07-01 | $1,400,000 (9.8%) | $1,904,902 (0.8%) | 3.15 | 1,987 |
2022-08-01 | $1,386,238 (10.9%) | $1,912,557 (2.0%) | 3.20 | 1,798 |
2022-09-01 | $1,398,250 (10.7%) | $1,964,656 (3.2%) | 3.27 | 1,554 |
2022-10-01 | $1,399,000 (9.7%) | $2,028,183 (2.6%) | 3.29 | 1,532 |
2022-11-01 | $1,399,000 (12.4%) | $2,028,954 (2.9%) | 3.36 | 1,354 |
2022-12-01 | $1,398,000 (12.8%) | $2,037,289 (4.9%) | 3.45 | 956 |
2023-01-01 | $1,349,000 (3.9%) | $1,949,922 (1.0%) | 3.34 | 823 |
2023-02-01 | $1,399,500 (3.7%) | $2,031,742 (5.9%) | 3.38 | 831 |
2023-03-01 | $1,495,000 (6.8%) | $2,155,081 (11.3%) | 3.53 | 870 |
2023-04-01 | $1,536,500 (6.8%) | $2,206,277 (15.5%) | 3.57 | 884 |
2023-05-01 | $1,530,000 (2.2%) | $2,198,585 (13.2%) | 3.47 | 973 |
2023-06-01 | $1,498,000 (0.2%) | $2,179,792 (10.8%) | 3.37 | 980 |
2023-07-01 | $1,498,000 (7.0%) | $2,176,298 (14.3%) | 3.40 | 952 |
2023-08-01 | $1,474,497 (6.4%) | $2,094,720 (9.5%) | 3.39 | 1,031 |
2023-09-01 | $1,399,000 (0.1%) | $2,001,621 (1.9%) | 3.26 | 1,148 |
2023-10-01 | $1,380,694 (-1.3%) | $1,989,260 (-1.9%) | 3.25 | 1,183 |
2023-11-01 | $1,352,222 (-3.3%) | $1,968,351 (-3.0%) | 3.22 | 1,132 |
2023-12-01 | $1,298,944 (-7.1%) | $2,029,021 (-0.4%) | 3.17 | 833 |
2024-01-01 | $1,288,250 (-4.5%) | $1,966,840 (0.9%) | 3.15 | 666 |
2024-02-01 | $1,366,944 (-2.3%) | $2,051,511 (1.0%) | 3.29 | 725 |
2024-03-01 | $1,481,397 (-0.9%) | $2,128,258 (-1.2%) | 3.49 | 889 |
2024-04-01 | $1,466,953 (-4.5%) | $2,108,183 (-4.5%) | 3.41 | 1,109 |
2024-05-01 | $1,468,817 (-4.0%) | $2,181,136 (-0.8%) | 3.32 | 1,332 |
2024-06-01 | $1,450,000 (-3.2%) | $2,107,431 (-3.3%) | 3.26 | 1,504 |
2024-07-01 | $1,408,664 (-6.0%) | $2,023,922 (-7.0%) | 3.22 | 1,527 |
2024-08-01 | $1,399,000 (-5.1%) | $2,024,517 (-3.4%) | 3.25 | 1,495 |
2024-09-01 | $1,432,170 (2.4%) | $2,086,446 (4.2%) | 3.37 | 1,600 |
2024-10-01 | $1,394,000 (1.0%) | $2,068,828 (4.0%) | 3.28 | 1,570 |
2024-11-01 | $1,350,000 (-0.2%) | $2,048,183 (4.1%) | 3.24 | 1,265 |
San Jose's median listing price comes in at 324% of the national average.
San Jose's average listing price for 2024-11-01 was $2,048,183, a difference of $79,832 (4.1%) versus the prior year and $-20,645 versus the prior month.
For the 2024-11-01 period, San Jose had 1,265 MLS listings, a difference of -305 listings (-19%) versus the prior month and 133 listings (12%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - San Jose (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 26 days | 1,900 sqft |
2018-02-01 | 17 days | 1,897 sqft |
2018-03-01 | 17 days | 1,832 sqft |
2018-04-01 | 18 days | 1,785 sqft |
2018-05-01 | 18 days | 1,793 sqft |
2018-06-01 | 22 days | 1,747 sqft |
2018-07-01 | 26 days | 1,695 sqft |
2018-08-01 | 28 days | 1,661 sqft |
2018-09-01 | 30 days | 1,661 sqft |
2018-10-01 | 31 days | 1,650 sqft |
2018-11-01 | 38 days | 1,632 sqft |
2018-12-01 | 50 days | 1,624 sqft |
2019-01-01 | 52 days | 1,624 sqft |
2019-02-01 | 25 days | 1,663 sqft |
2019-03-01 | 27 days | 1,689 sqft |
2019-04-01 | 28 days | 1,710 sqft |
2019-05-01 | 25 days | 1,753 sqft |
2019-06-01 | 32 days | 1,735 sqft |
2019-07-01 | 38 days | 1,721 sqft |
2019-08-01 | 40 days | 1,720 sqft |
2019-09-01 | 43 days | 1,716 sqft |
2019-10-01 | 44 days | 1,716 sqft |
2019-11-01 | 56 days | 1,752 sqft |
2019-12-01 | 73 days | 1,788 sqft |
2020-01-01 | 53 days | 1,764 sqft |
2020-02-01 | 23 days | 1,830 sqft |
2020-03-01 | 22 days | 1,808 sqft |
2020-04-01 | 35 days | 1,774 sqft |
2020-05-01 | 36 days | 1,796 sqft |
2020-06-01 | 35 days | 1,774 sqft |
2020-07-01 | 33 days | 1,713 sqft |
2020-08-01 | 33 days | 1,663 sqft |
2020-09-01 | 37 days | 1,632 sqft |
2020-10-01 | 36 days | 1,614 sqft |
2020-11-01 | 42 days | 1,585 sqft |
2020-12-01 | 51 days | 1,541 sqft |
2021-01-01 | 41 days | 1,553 sqft |
2021-02-01 | 25 days | 1,576 sqft |
2021-03-01 | 25 days | 1,591 sqft |
2021-04-01 | 29 days | 1,607 sqft |
2021-05-01 | 25 days | 1,663 sqft |
2021-06-01 | 23 days | 1,649 sqft |
2021-07-01 | 25 days | 1,624 sqft |
2021-08-01 | 30 days | 1,599 sqft |
2021-09-01 | 31 days | 1,624 sqft |
2021-10-01 | 36 days | 1,615 sqft |
2021-11-01 | 51 days | 1,607 sqft |
2021-12-01 | 66 days | 1,547 sqft |
2022-01-01 | 39 days | 1,585 sqft |
2022-02-01 | 11 days | 1,599 sqft |
2022-03-01 | 16 days | 1,630 sqft |
2022-04-01 | 16 days | 1,663 sqft |
2022-05-01 | 17 days | 1,666 sqft |
2022-06-01 | 24 days | 1,675 sqft |
2022-07-01 | 29 days | 1,673 sqft |
2022-08-01 | 37 days | 1,682 sqft |
2022-09-01 | 38 days | 1,691 sqft |
2022-10-01 | 36 days | 1,715 sqft |
2022-11-01 | 40 days | 1,720 sqft |
2022-12-01 | 53 days | 1,722 sqft |
2023-01-01 | 53 days | 1,686 sqft |
2023-02-01 | 30 days | 1,729 sqft |
2023-03-01 | 27 days | 1,758 sqft |
2023-04-01 | 27 days | 1,780 sqft |
2023-05-01 | 25 days | 1,778 sqft |
2023-06-01 | 29 days | 1,772 sqft |
2023-07-01 | 30 days | 1,717 sqft |
2023-08-01 | 27 days | 1,731 sqft |
2023-09-01 | 29 days | 1,693 sqft |
2023-10-01 | 31 days | 1,659 sqft |
2023-11-01 | 34 days | 1,613 sqft |
2023-12-01 | 43 days | 1,602 sqft |
2024-01-01 | 42 days | 1,589 sqft |
2024-02-01 | 23 days | 1,621 sqft |
2024-03-01 | 22 days | 1,658 sqft |
2024-04-01 | 21 days | 1,633 sqft |
2024-05-01 | 16 days | 1,678 sqft |
2024-06-01 | 20 days | 1,680 sqft |
2024-07-01 | 30 days | 1,662 sqft |
2024-08-01 | 31 days | 1,651 sqft |
2024-09-01 | 31 days | 1,676 sqft |
2024-10-01 | 34 days | 1,667 sqft |
2024-11-01 | 39 days | 1,619 sqft |
San Jose's median square footage for active listings during the 2024-11-01 period was 1,619 sqft. One year prior, the average listing was 1,613 sqft.