Sandpoint FHA Loan Rates, Closing Costs & Stats

Sandpoint, ID

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    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.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    Willamette Valley Bank 12 2.94% $10,208
    QUICKEN LOANS, LLC 8 2.62% $10,701
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 5 3.07% $9,860
    Nations Lending Corporation 4 3.28% $15,605
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 2.97% $9,675
    PREMIER MORTGAGE RESOURCES, L.L.C. 4 2.97% $12,268
    FREEDOM MORTGAGE CORPORATION 4 3.19% $4,656
    Platinum Home Mortgage Corporation 3 2.92% $10,972
    NEWREZ LLC 3 3.08% $5,951
    Glacier Bank 3 2.83% $8,588
    IDAHO CENTRAL 2 3.06% $12,310
    CALIBER HOME LOANS, INC. 2 2.75% $10,623
    ACADEMY MORTGAGE CORPORATION 2 3.38% $12,102
    PLANET HOME LENDING, LLC 2 2.69% $6,988
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 2.88% $11,726
    SUN WEST MORTGAGE COMPANY, INC. 2 2.69% $6,854
    UNITED WHOLESALE MORTGAGE, LLC 2 2.81% $9,568
    LEADERONE FINANCIAL CORPORATION 1 3.38% $7,031
    LOANDEPOT.COM, LLC 1 3.63% $8,820
    MANN FINANCIAL INC. 1 2.75% $13,657
    First Mortgage Solutions, LLC 1 3.13% $9,801
    First Guaranty Mortgage Corporation 1 2.75% $5,325
    Northpointe Bank 1 3.00% $10,511
    VILLAGE CAPITAL MORTGAGE 1 3.50% $7,188
    FINANCE OF AMERICA MORTGAGE LLC 1 2.50% $6,466
    CELEBRITY HOME LOANS, LLC 1 3.38% $11,327
    Barrington Bank & Trust Company, N.A. 1 3.38% $4,736
    BROKER SOLUTIONS, INC. 1 2.75% $6,299
    GENEVA FINANCIAL, LLC 1 3.25% $9,123
    GLOBAL 1 3.00% $4,374
    GUILD MORTGAGE COMPANY 1 3.13% $5,166
    HOME POINT FINANCIAL CORPORATION 1 2.50% $8,292
    Sunflower Bank 1 2.99% $6,165

    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. Louis
    Date 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 for 2022-12-01 was $799,000, a difference of $57,000 (7.7%) versus the prior year and $0 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2022-12-01 was 0 days.

    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.

    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).