Sandpoint FHA Loan Rates, Closing Costs & Stats

Sandpoint, ID

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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.

    Sandpoint's 26 lenders originated 85 FHA loans during 2023. The total origination value was $27,275,000, with an average FHA loan value of $320,882.

    Sandpoint FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Sandpoint averaged 6.92% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Sandpoint's average FHA mortgage closing costs are $9,834.

    The average rate for the prior week (2024-04-12) was 6.91% and one month ago for the week of 2024-03-15, the average rate was 6.57%.

    The average rate one year ago was 6.3%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Willamette Valley Bank 8 6.39% $18,155
    QUICKEN LOANS, LLC 5 5.62% $13,561
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 7.30% $15,514
    UNITED WHOLESALE MORTGAGE, LLC 3 6.04% $14,955
    IDAHO CENTRAL 3 6.29% $17,360
    LOANDEPOT.COM, LLC 3 7.17% $10,979
    TOP FLITE FINANCIAL, INC. 2 6.69% $12,457
    Platinum Home Mortgage Corporation 2 6.56% $18,934
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 2 6.44% $10,927
    AMERICAN FINANCING CORPORATION 1 7.50% $7,376
    NFM, INC. 1 6.63% $9,226
    Paramount Residential Mortgage Group, Inc. 1 7.63% $18,733
    PLANET HOME LENDING, LLC 1 4.75% $24,689
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.13% $18,918
    Sunflower Bank 1 5.99% $18,725
    Umpqua Bank 1 7.38% $4,899
    Wells Fargo Bank 1 5.75% $15,730
    Mr. Cooper ( Nationstar Mortgage ) 1 7.13% $14,648
    American Mortgage & Equity Consultants, Inc. 1 5.75% $20,504
    AMERISAVE MORTGAGE CORPORATION 1 6.50% $24,145
    BAY EQUITY LLC 1 5.25% $28,014
    CROSSCOUNTRY MORTGAGE, LLC 1 6.69% $13,269
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.88% $13,898
    GSF Mortgage Corporation 1 3.25% $11,163
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.13% $12,198
    MOVEMENT MORTGAGE, LLC 1 6.38% $25,502

    The top Sandpoint FHA lender as defined by loan originations is Willamette Valley Bank, with 8 FHA loans originated. Their average total fees are $18,155, which is $4,594 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Sandpoint FHA lenders (with over 10 loans originated) are .

    The lowest rate Sandpoint FHA lenders (with over 10 loans originated) are .

    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
    SANDPOINT, ID BONNER 2023 $523,250 $669,850 $809,700 $1,006,250

    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 $359,250 (-2.6%) $529,361 (-7.4%) 0.00 361
    2018-02-01 $359,000 (2.6%) $540,038 (-2.6%) 0.00 370
    2018-03-01 $369,000 (-0.8%) $571,746 (0.2%) 0.00 403
    2018-04-01 $377,000 (4.1%) $570,435 (0.4%) 0.00 441
    2018-05-01 $379,000 (4.1%) $574,695 (4.1%) 0.00 514
    2018-06-01 $395,500 (7.7%) $592,223 (7.4%) 0.00 606
    2018-07-01 $398,000 (6.1%) $596,923 (8.8%) 0.00 640
    2018-08-01 $425,000 (9.3%) $629,462 (11.3%) 0.00 715
    2018-09-01 $399,900 (9.6%) $653,240 (15.2%) 0.00 612
    2018-10-01 $397,625 (8.7%) $640,390 (14.7%) 0.00 562
    2018-11-01 $397,225 (7.7%) $640,182 (16.3%) 0.00 490
    2018-12-01 $399,000 (8.1%) $683,261 (27.8%) 0.00 429
    2019-01-01 $404,500 (12.6%) $791,479 (49.5%) 0.00 342
    2019-02-01 $436,150 (21.5%) $865,671 (60.3%) 0.00 306
    2019-03-01 $449,386 (21.8%) $859,009 (50.2%) 0.00 317
    2019-04-01 $449,950 (19.4%) $809,459 (41.9%) 0.00 349
    2019-05-01 $453,675 (19.7%) $786,170 (36.8%) 0.00 404
    2019-06-01 $449,900 (13.8%) $762,387 (28.7%) 0.00 481
    2019-07-01 $450,000 (13.1%) $739,031 (23.8%) 0.00 555
    2019-08-01 $466,018 (9.7%) $758,561 (20.5%) 0.00 526
    2019-09-01 $467,695 (17.0%) $777,293 (19.0%) 0.00 467
    2019-10-01 $469,415 (18.1%) $802,431 (25.3%) 0.00 412
    2019-11-01 $479,000 (20.6%) $835,019 (30.4%) 0.00 361
    2019-12-01 $527,450 (32.2%) $899,823 (31.7%) 0.00 337
    2020-01-01 $548,000 (35.5%) $919,337 (16.2%) 0.00 282
    2020-02-01 $529,000 (21.3%) $928,983 (7.3%) 0.00 274
    2020-03-01 $546,475 (21.6%) $961,167 (11.9%) 0.00 271
    2020-04-01 $525,750 (16.9%) $918,457 (13.5%) 0.00 306
    2020-05-01 $529,700 (16.8%) $905,981 (15.2%) 0.00 326
    2020-06-01 $554,500 (23.3%) $906,796 (18.9%) 0.00 352
    2020-07-01 $576,311 (28.1%) $965,398 (30.6%) 0.00 342
    2020-08-01 $597,000 (28.1%) $1,045,947 (37.9%) 0.00 300
    2020-09-01 $594,500 (27.1%) $1,069,877 (37.6%) 0.00 234
    2020-10-01 $634,000 (35.1%) $1,155,678 (44.0%) 0.00 197
    2020-11-01 $684,225 (42.8%) $1,411,443 (69.0%) 0.00 149
    2020-12-01 $779,500 (47.8%) $1,615,612 (79.6%) 0.00 120
    2021-01-01 $813,000 (48.4%) $1,771,993 (92.8%) 0.00 87
    2021-02-01 $794,225 (50.1%) $1,855,868 (99.8%) 0.00 78
    2021-03-01 $698,225 (27.8%) $1,811,959 (88.5%) 0.00 76
    2021-04-01 $696,225 (32.4%) $1,734,015 (88.8%) 0.00 93
    2021-05-01 $726,000 (37.1%) $1,529,108 (68.8%) 0.00 134
    2021-06-01 $764,925 (38.0%) $1,279,522 (41.1%) 0.00 190
    2021-07-01 $707,500 (22.8%) $1,114,574 (15.5%) 0.00 277
    2021-08-01 $750,000 (25.6%) $1,115,062 (6.6%) 0.00 284
    2021-09-01 $749,675 (26.1%) $1,178,106 (10.1%) 0.00 287
    2021-10-01 $748,500 (18.1%) $1,291,544 (11.8%) 0.00 232
    2021-11-01 $739,700 (8.1%) $1,265,178 (-10.4%) 0.00 167
    2021-12-01 $742,000 (-4.8%) $1,321,001 (-18.2%) 0.00 133
    2022-01-01 $799,000 (-1.7%) $1,365,300 (-23.0%) 0.00 83
    2022-02-01 $905,725 (14.0%) $1,337,696 (-27.9%) 0.00 88
    2022-03-01 $969,225 (38.8%) $1,353,402 (-25.3%) 0.00 105
    2022-04-01 $875,000 (25.7%) $1,247,237 (-28.1%) 0.00 142
    2022-05-01 $839,450 (15.6%) $1,247,709 (-18.4%) 0.00 242
    2022-06-01 $832,000 (8.8%) $1,218,526 (-4.8%) 0.00 370
    2022-07-01 $799,900 (13.1%) $1,245,680 (11.8%) 0.00 465
    2022-08-01 $825,000 (10.0%) $1,244,957 (11.7%) 0.00 498
    2022-09-01 $817,000 (9.0%) $1,254,952 (6.5%) 0.00 471
    2022-10-01 $799,000 (6.8%) $1,221,161 (-5.5%) 0.00 438
    2022-11-01 $799,500 (8.1%) $1,190,100 (-5.9%) 0.00 366
    2022-12-01 $799,999 (7.8%) $1,207,057 (-8.6%) 0.00 324
    2023-01-01 $842,450 (5.4%) $1,233,379 (-9.7%) 0.00 269
    2023-02-01 $849,000 (-6.3%) $1,254,051 (-6.3%) 0.00 264
    2023-03-01 $849,700 (-12.3%) $1,280,440 (-5.4%) 0.00 258
    2023-04-01 $864,900 (-1.2%) $1,296,628 (4.0%) 0.00 256
    2023-05-01 $797,000 (-5.1%) $1,208,488 (-3.1%) 0.00 343
    2023-06-01 $796,250 (-4.3%) $1,222,987 (0.4%) 0.00 450
    2023-07-01 $775,000 (-3.1%) $1,208,448 (-3.0%) 0.00 512
    2023-08-01 $768,000 (-6.9%) $1,198,275 (-3.8%) 0.00 527
    2023-09-01 $772,500 (-5.5%) $1,199,022 (-4.5%) 0.00 491
    2023-10-01 $787,500 (-1.4%) $1,222,004 (0.1%) 0.00 446
    2023-11-01 $792,000 (-0.9%) $1,274,611 (7.1%) 0.00 369
    2023-12-01 $829,000 (3.6%) $1,250,608 (3.6%) 0.00 328
    2024-01-01 $829,500 (-1.5%) $1,253,142 (1.6%) 0.00 309
    2024-02-01 $799,450 (-5.8%) $1,252,025 (-0.2%) 0.00 269
    2024-03-01 $822,500 (-3.2%) $1,307,439 (2.1%) 0.00 294
    Sandpoint's median listing price for 2024-03-01 was $822,500, a difference of $-27,200 (-3.2%) versus the prior year and $23,050 versus the prior month.

    Sandpoint's median listing price comes in at 0% of the national average.

    Sandpoint's average listing price for 2024-03-01 was $1,307,439, a difference of $26,999 (2.1%) versus the prior year and $55,414 versus the prior month.

    For the 2024-03-01 period, Sandpoint had 294 MLS listings, a difference of 25 listings (9%) versus the prior month and 36 listings (14%) 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 1,854 sqft
    2018-03-01 0 days 1,876 sqft
    2018-04-01 0 days 1,884 sqft
    2018-05-01 0 days 1,886 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 2,050 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 2,069 sqft
    2019-04-01 0 days 2,017 sqft
    2019-05-01 0 days 2,080 sqft
    2019-06-01 0 days 2,050 sqft
    2019-07-01 0 days 1,988 sqft
    2019-08-01 0 days 2,041 sqft
    2019-09-01 0 days 2,122 sqft
    2019-10-01 0 days 2,211 sqft
    2019-11-01 0 days 2,112 sqft
    2019-12-01 0 days 1,964 sqft
    2020-01-01 0 days 1,899 sqft
    2020-02-01 0 days 1,897 sqft
    2020-03-01 0 days 1,990 sqft
    2020-04-01 0 days 1,970 sqft
    2020-05-01 0 days 2,025 sqft
    2020-06-01 0 days 2,065 sqft
    2020-07-01 0 days 2,140 sqft
    2020-08-01 0 days 2,100 sqft
    2020-09-01 0 days 2,075 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 2,256 sqft
    2021-03-01 0 days 2,176 sqft
    2021-04-01 0 days 2,109 sqft
    2021-05-01 0 days 2,139 sqft
    2021-06-01 0 days 2,009 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 1,936 sqft
    2021-12-01 0 days 1,967 sqft
    2022-01-01 0 days 2,000 sqft
    2022-02-01 0 days 1,983 sqft
    2022-03-01 0 days 2,071 sqft
    2022-04-01 0 days 1,988 sqft
    2022-05-01 0 days 1,921 sqft
    2022-06-01 0 days 1,877 sqft
    2022-07-01 0 days 1,907 sqft
    2022-08-01 0 days 1,958 sqft
    2022-09-01 0 days 2,000 sqft
    2022-10-01 0 days 2,027 sqft
    2022-11-01 0 days 1,982 sqft
    2022-12-01 0 days 1,867 sqft
    2023-01-01 0 days 1,858 sqft
    2023-02-01 0 days 1,888 sqft
    2023-03-01 0 days 1,900 sqft
    2023-04-01 0 days 2,000 sqft
    2023-05-01 0 days 1,999 sqft
    2023-06-01 0 days 2,012 sqft
    2023-07-01 0 days 1,936 sqft
    2023-08-01 0 days 1,914 sqft
    2023-09-01 0 days 1,936 sqft
    2023-10-01 0 days 2,016 sqft
    2023-11-01 0 days 2,021 sqft
    2023-12-01 0 days 2,016 sqft
    2024-01-01 0 days 2,004 sqft
    2024-02-01 0 days 1,900 sqft
    2024-03-01 0 days 1,915 sqft
    Sandpoint's median listing age (time on market) for 2024-03-01 was 0 days.

    Sandpoint's median square footage for active listings during the 2024-03-01 period was 1,915 sqft. One year prior, the average listing was 1,900 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).