Sandpoint FHA Loan Rates, Closing Costs & Stats
Sandpoint, ID
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.
Sandpoint's 33 lenders originated 120 FHA loans during 2021. The total origination value was $29,070,000, with an average FHA loan value of $242,250.
Sandpoint FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Sandpoint
averaged
6.25%
for the week of 2023-01-27, compared to the national average (all FHA variants) of
6.186% for the same period.
Sandpoint's average FHA mortgage closing costs are $8,576.
The average rate for the prior week (2023-01-20) was
6.33% and
one month ago for the week of 2022-12-23, the
average rate was 6.22%.
The average rate one year ago was 3.71%.
For refis of the same type during the week of 2023-01-27, the average rate
was 5.9%.
Sandpoint 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 Sandpoint level.
The top Sandpoint FHA lender as defined by loan originations is Willamette Valley Bank, with
12 FHA loans originated. Their average total fees are
$10,208, which is $493
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Sandpoint FHA lenders (with over 10 loans originated) are
Willamette Valley Bank ($10,208), .
The lowest rate Sandpoint FHA lenders (with over 10 loans originated) are
Willamette Valley Bank (2.94%), .
Sandpoint FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
SANDPOINT, ID | BONNER | 2022 | $427,800 | $547,650 | $662,000 | $822,700 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Sandpoint (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 | $361,500 (-2.0%) | $528,983 (-7.4%) | 0.00 | 362 |
2018-02-01 | $359,125 (2.0%) | $539,315 (-2.7%) | 0.00 | 371 |
2018-03-01 | $369,000 (-0.8%) | $571,728 (0.2%) | 0.00 | 403 |
2018-04-01 | $378,000 (3.1%) | $570,034 (0.3%) | 0.00 | 442 |
2018-05-01 | $379,395 (4.2%) | $574,526 (4.2%) | 0.00 | 516 |
2018-06-01 | $395,000 (7.5%) | $591,708 (7.7%) | 0.00 | 609 |
2018-07-01 | $397,350 (5.7%) | $596,366 (9.0%) | 0.00 | 642 |
2018-08-01 | $425,000 (9.3%) | $629,074 (11.3%) | 0.00 | 717 |
2018-09-01 | $399,900 (9.6%) | $652,285 (15.1%) | 0.00 | 615 |
2018-10-01 | $398,250 (8.4%) | $639,757 (14.6%) | 0.00 | 566 |
2018-11-01 | $397,725 (7.7%) | $639,342 (16.3%) | 0.00 | 492 |
2018-12-01 | $399,000 (8.1%) | $683,067 (28.1%) | 0.00 | 430 |
2019-01-01 | $405,750 (12.2%) | $790,935 (49.5%) | 0.00 | 343 |
2019-02-01 | $437,300 (21.8%) | $863,036 (60.0%) | 0.00 | 308 |
2019-03-01 | $449,193 (21.7%) | $856,101 (49.7%) | 0.00 | 318 |
2019-04-01 | $449,725 (19.0%) | $808,541 (41.8%) | 0.00 | 350 |
2019-05-01 | $450,000 (18.6%) | $783,531 (36.4%) | 0.00 | 406 |
2019-06-01 | $449,450 (13.8%) | $760,174 (28.5%) | 0.00 | 483 |
2019-07-01 | $449,975 (13.2%) | $736,971 (23.6%) | 0.00 | 557 |
2019-08-01 | $462,455 (8.8%) | $757,052 (20.3%) | 0.00 | 527 |
2019-09-01 | $466,136 (16.6%) | $776,043 (19.0%) | 0.00 | 468 |
2019-10-01 | $469,415 (17.9%) | $801,367 (25.3%) | 0.00 | 412 |
2019-11-01 | $478,000 (20.2%) | $832,616 (30.2%) | 0.00 | 361 |
2019-12-01 | $527,000 (32.1%) | $896,812 (31.3%) | 0.00 | 339 |
2020-01-01 | $541,000 (33.3%) | $914,162 (15.6%) | 0.00 | 284 |
2020-02-01 | $529,000 (21.0%) | $925,960 (7.3%) | 0.00 | 275 |
2020-03-01 | $544,225 (21.2%) | $957,269 (11.8%) | 0.00 | 273 |
2020-04-01 | $524,000 (16.5%) | $914,254 (13.1%) | 0.00 | 309 |
2020-05-01 | $529,000 (17.6%) | $901,331 (15.0%) | 0.00 | 328 |
2020-06-01 | $549,750 (22.3%) | $903,954 (18.9%) | 0.00 | 353 |
2020-07-01 | $570,000 (26.7%) | $958,677 (30.1%) | 0.00 | 348 |
2020-08-01 | $596,000 (28.9%) | $1,055,203 (39.4%) | 0.00 | 304 |
2020-09-01 | $593,200 (27.3%) | $1,078,129 (38.9%) | 0.00 | 239 |
2020-10-01 | $634,000 (35.1%) | $1,166,716 (45.6%) | 0.00 | 202 |
2020-11-01 | $684,225 (43.1%) | $1,403,268 (68.5%) | 0.00 | 151 |
2020-12-01 | $774,250 (46.9%) | $1,592,753 (77.6%) | 0.00 | 122 |
2021-01-01 | $800,000 (47.9%) | $1,740,518 (90.4%) | 0.00 | 90 |
2021-02-01 | $789,450 (49.2%) | $1,815,194 (96.0%) | 0.00 | 81 |
2021-03-01 | $699,225 (28.5%) | $1,775,569 (85.5%) | 0.00 | 79 |
2021-04-01 | $696,225 (32.9%) | $1,713,123 (87.4%) | 0.00 | 95 |
2021-05-01 | $726,000 (37.2%) | $1,519,220 (68.6%) | 0.00 | 136 |
2021-06-01 | $762,450 (38.7%) | $1,274,769 (41.0%) | 0.00 | 192 |
2021-07-01 | $707,500 (24.1%) | $1,119,126 (16.7%) | 0.00 | 279 |
2021-08-01 | $750,000 (25.8%) | $1,119,153 (6.1%) | 0.00 | 286 |
2021-09-01 | $749,900 (26.4%) | $1,184,064 (9.8%) | 0.00 | 289 |
2021-10-01 | $749,000 (18.1%) | $1,298,318 (11.3%) | 0.00 | 234 |
2021-11-01 | $741,950 (8.4%) | $1,274,666 (-9.2%) | 0.00 | 168 |
2021-12-01 | $742,000 (-4.2%) | $1,317,658 (-17.3%) | 0.00 | 135 |
2022-01-01 | $799,000 (-0.1%) | $1,386,408 (-20.4%) | 0.00 | 85 |
2022-02-01 | $870,725 (10.3%) | $1,316,106 (-27.5%) | 0.00 | 90 |
2022-03-01 | $954,500 (36.5%) | $1,333,108 (-24.9%) | 0.00 | 107 |
2022-04-01 | $875,000 (25.7%) | $1,237,886 (-27.7%) | 0.00 | 143 |
2022-05-01 | $838,250 (15.5%) | $1,238,649 (-18.5%) | 0.00 | 244 |
2022-06-01 | $825,000 (8.2%) | $1,212,987 (-4.9%) | 0.00 | 372 |
2022-07-01 | $799,800 (13.1%) | $1,242,712 (11.0%) | 0.00 | 466 |
2022-08-01 | $825,000 (10.0%) | $1,242,529 (11.0%) | 0.00 | 499 |
2022-09-01 | $812,250 (8.3%) | $1,252,389 (5.8%) | 0.00 | 472 |
2022-10-01 | $799,000 (6.7%) | $1,217,311 (-6.2%) | 0.00 | 440 |
2022-11-01 | $799,000 (7.7%) | $1,185,648 (-7.0%) | 0.00 | 368 |
2022-12-01 | $799,000 (7.7%) | $1,202,000 (-8.8%) | 0.00 | 326 |
Sandpoint's median listing price comes in at 0% of the national average.
Sandpoint's average listing price for 2022-12-01 was $1,202,000, a difference of $-115,658 (-8.8%) versus the prior year and $16,352 versus the prior month.
For the 2022-12-01 period, Sandpoint had 326 MLS listings, a difference of -42 listings (-11%) versus the prior month and 191 listings (141%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Sandpoint (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,868 sqft |
2018-02-01 | 0 days | 1,851 sqft |
2018-03-01 | 0 days | 1,878 sqft |
2018-04-01 | 0 days | 1,882 sqft |
2018-05-01 | 0 days | 1,885 sqft |
2018-06-01 | 0 days | 1,914 sqft |
2018-07-01 | 0 days | 1,926 sqft |
2018-08-01 | 0 days | 1,959 sqft |
2018-09-01 | 0 days | 2,059 sqft |
2018-10-01 | 0 days | 2,023 sqft |
2018-11-01 | 0 days | 2,033 sqft |
2018-12-01 | 0 days | 2,056 sqft |
2019-01-01 | 0 days | 2,033 sqft |
2019-02-01 | 0 days | 2,076 sqft |
2019-03-01 | 0 days | 2,066 sqft |
2019-04-01 | 0 days | 2,015 sqft |
2019-05-01 | 0 days | 2,076 sqft |
2019-06-01 | 0 days | 2,028 sqft |
2019-07-01 | 0 days | 1,987 sqft |
2019-08-01 | 0 days | 2,039 sqft |
2019-09-01 | 0 days | 2,116 sqft |
2019-10-01 | 0 days | 2,199 sqft |
2019-11-01 | 0 days | 2,110 sqft |
2019-12-01 | 0 days | 1,956 sqft |
2020-01-01 | 0 days | 1,893 sqft |
2020-02-01 | 0 days | 1,882 sqft |
2020-03-01 | 0 days | 1,959 sqft |
2020-04-01 | 0 days | 1,957 sqft |
2020-05-01 | 0 days | 2,013 sqft |
2020-06-01 | 0 days | 2,030 sqft |
2020-07-01 | 0 days | 2,094 sqft |
2020-08-01 | 0 days | 2,087 sqft |
2020-09-01 | 0 days | 2,062 sqft |
2020-10-01 | 0 days | 2,216 sqft |
2020-11-01 | 0 days | 2,325 sqft |
2020-12-01 | 0 days | 2,339 sqft |
2021-01-01 | 0 days | 2,240 sqft |
2021-02-01 | 0 days | 2,244 sqft |
2021-03-01 | 0 days | 2,180 sqft |
2021-04-01 | 0 days | 2,109 sqft |
2021-05-01 | 0 days | 2,139 sqft |
2021-06-01 | 0 days | 2,008 sqft |
2021-07-01 | 0 days | 2,010 sqft |
2021-08-01 | 0 days | 2,020 sqft |
2021-09-01 | 0 days | 2,032 sqft |
2021-10-01 | 0 days | 2,001 sqft |
2021-11-01 | 0 days | 1,948 sqft |
2021-12-01 | 0 days | 1,961 sqft |
2022-01-01 | 0 days | 1,990 sqft |
2022-02-01 | 0 days | 1,958 sqft |
2022-03-01 | 0 days | 2,043 sqft |
2022-04-01 | 0 days | 1,975 sqft |
2022-05-01 | 0 days | 1,914 sqft |
2022-06-01 | 0 days | 1,870 sqft |
2022-07-01 | 0 days | 1,901 sqft |
2022-08-01 | 0 days | 1,952 sqft |
2022-09-01 | 0 days | 2,000 sqft |
2022-10-01 | 0 days | 2,020 sqft |
2022-11-01 | 0 days | 1,955 sqft |
2022-12-01 | 0 days | 1,865 sqft |
Sandpoint's median square footage for active listings during the 2022-12-01 period was 1,865 sqft. One year prior, the average listing was 1,961 sqft.