Santa Rosa FHA Loans

SANTA ROSA-PETALUMA, 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.

Santa Rosa's 84 lenders originated 1,046 FHA loans during 2021. The total origination value was $507,990,000, with an average FHA loan value of $485,650.

Santa Rosa FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Santa Rosa averaged 5.03% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

The average rate for the prior week (2022-05-06) was 5.46% and one month ago for the week of 2022-04-08, the average rate was 4.72%.

The average rate one year ago was 2.83%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.16%.

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

Santa Rosa 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 Santa Rosa level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 59 2.62% $13,011
CROSSCOUNTRY MORTGAGE, LLC 56 2.97% $17,729
UNITED WHOLESALE MORTGAGE, LLC 52 2.67% $15,984
CALIBER HOME LOANS, INC. 42 2.72% $14,148
FREEDOM MORTGAGE CORPORATION 37 2.64% $9,987
SUMMIT FUNDING, INC. 30 3.00% $19,409
LOANDEPOT.COM, LLC 29 3.19% $18,425
LAKEVIEW LOAN SERVICING, LLC 28 2.73% $8,514
HOME POINT FINANCIAL CORPORATION 24 2.63% $13,779
AMERICAN PACIFIC MORTGAGE CORPORATION 22 2.99% $17,002
BROKER SOLUTIONS, INC. 19 3.05% $16,143
Sierra Pacific Mortgage Company, Inc. 18 2.76% $15,213
FINANCE OF AMERICA MORTGAGE LLC 16 3.01% $17,209
Mr. Cooper ( Nationstar Mortgage ) 16 3.04% $7,900
Flagstar Bank, FSB 15 2.86% $14,169
PENNYMAC LOAN SERVICES, LLC 15 2.84% $9,271
HOMEBRIDGE FINANCIAL SERVICES, INC. 13 2.75% $12,281
NEWREZ LLC 12 2.89% $10,819
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 2.96% $16,396
STEARNS LENDING, LLC 10 3.01% $14,458
VILLAGE CAPITAL & INVESTMENT LLC 10 2.62% $6,032
Lakeview Community Capital, LLC 9 2.72% $9,164
Carrington Mortgage Services, LLC 8 3.27% $14,704
MID AMERICA MORTGAGE, INC. 8 2.91% $6,370
ROUNDPOINT MORTGAGE SERVICING CORPORATION 8 3.33% $14,746
First Guaranty Mortgage Corporation 8 2.70% $13,773
GUARANTEED RATE AFFINITY, LLC 8 3.03% $14,809
AMERICAN FINANCIAL NETWORK, INC. 8 2.66% $15,911
GUILD MORTGAGE COMPANY 7 2.73% $17,751
Nations Lending Corporation 6 2.88% $13,954
GUARANTEED RATE, INC. 6 2.73% $17,901
PLAZA HOME MORTGAGE, INC. 5 2.88% $16,903
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.03% $16,115
Century Mortgage Company DBA Century Lending Company 5 3.28% $15,930
PANORAMA MORTGAGE GROUP, LLC 5 3.60% $19,599
MOUNTAIN WEST FINANCIAL, INC. 5 3.45% $21,723
PLANET HOME LENDING, LLC 5 3.35% $11,692
PREMIER LENDING, INC. 4 2.84% $12,679
AmeriHome Mortgage Company, LLC 4 2.72% $8,865
OCMBC, INC. 4 3.25% $11,626
U.S. Bank 4 2.94% $13,854
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 2.81% $13,153
V.I.P. MORTGAGE, INC. 3 2.96% $21,037
AMERISAVE MORTGAGE CORPORATION 3 2.71% $11,081
FBC MORTGAGE, LLC 3 2.58% $12,648
HOMEAMERICAN MORTGAGE CORPORATION 3 3.08% $11,428
InterContinental Capital Group, Inc 3 2.29% $13,230
MASON MCDUFFIE MORTGAGE CORPORATION 3 2.46% $16,856
NATIONS DIRECT MORTGAGE, LLC 3 2.71% $15,007
OPEN MORTGAGE, LLC 3 2.96% $14,649
RESIDENTIAL BANCORP. 3 3.17% $17,674
S1L, Inc. 3 3.16% $18,458
SUN WEST MORTGAGE COMPANY, INC. 3 2.67% $9,741
The Federal Savings Bank 2 2.44% $13,886
BAY EQUITY LLC 2 3.06% $14,286
JPMorgan Chase Bank 2 2.81% $19,143
CMG MORTGAGE, INC. 2 2.75% $23,921
Paramount Residential Mortgage Group, Inc. 2 3.44% $15,501
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.25% $16,924
LENDUS, LLC 2 2.69% $13,998
CELEBRITY HOME LOANS, LLC 1 3.00% $11,784
INSPIRE HOME LOANS INC. 1 3.75% $31,137
iCore Lending, Inc. 1 3.75% $22,653
Golden Empire Mortgage, Inc. 1 3.38% $20,310
GENEVA FINANCIAL, LLC 1 3.25% $9,224
EVERETT FINANCIAL, INC. 1 2.88% $16,147
LEADERONE FINANCIAL CORPORATION 1 3.13% $16,604
EMBRACE HOME LOANS, INC. 1 3.13% $5,370
BECKAM FUNDING CORP. 1 4.75% $31,750
DIGNIFIED HOME LOANS, LLC 1 2.25% $9,481
DATA MORTGAGE, INC. 1 4.00% $15,637
CHURCHILL MORTGAGE CORPORATION 1 3.75% $6,795
LOANPAL, LLC 1 2.25% $29,609
Manufacturers and Traders Trust Company 1 2.88% $9,923
TOP FLITE FINANCIAL, INC. 1 3.50% $25,748
LOANLEADERS OF AMERICA, INC. 1 2.75% $8,522
MORIA DEVELOPMENT, INC. 1 3.50% $17,261
ENVOY MORTGAGE, LTD 1 2.50% $14,620
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.50% $11,378
Umpqua Bank 1 2.88% $12,248
LAND HOME FINANCIAL SERVICES, INC. 1 2.88% $15,037
NATIONS RELIABLE LENDING, LLC 1 4.13% $22,022
KBHS HOME LOANS, LLC 1 2.75% $22,788
NP, Inc. 1 3.38% $22,432

The top Santa Rosa FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 59 FHA loans originated. Their average total fees are $13,011, which is $4,718 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee Santa Rosa FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($6,032), Mr. Cooper ( Nationstar Mortgage ) ($7,900), LAKEVIEW LOAN SERVICING, LLC ($8,514), PENNYMAC LOAN SERVICES, LLC ($9,271) and FREEDOM MORTGAGE CORPORATION ($9,987).

The lowest rate Santa Rosa FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.62%), VILLAGE CAPITAL & INVESTMENT LLC (2.62%), HOME POINT FINANCIAL CORPORATION (2.63%), FREEDOM MORTGAGE CORPORATION (2.64%) and UNITED WHOLESALE MORTGAGE, LLC (2.67%).

Santa Rosa FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
SANTA ROSA-PETALUMA, CA SONOMA 2022 $764,750 $979,000 $1,183,400 $1,470,700

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Santa Rosa (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 $784,000 (9.7%) $1,226,237 (14.4%) 2.89 409
2018-02-01 $796,500 (9.1%) $1,182,391 (9.9%) 2.87 452
2018-03-01 $779,000 (5.7%) $1,190,063 (2.9%) 2.70 525
2018-04-01 $762,475 (0.5%) $1,187,804 (-6.9%) 2.56 624
2018-05-01 $791,475 (2.9%) $1,261,499 (-0.6%) 2.64 765
2018-06-01 $749,000 (-3.2%) $1,217,730 (-4.1%) 2.50 935
2018-07-01 $737,000 (-1.7%) $1,150,281 (-8.1%) 2.46 1,096
2018-08-01 $699,750 (-8.2%) $1,107,857 (-13.6%) 2.34 1,184
2018-09-01 $714,900 (-10.1%) $1,100,782 (-15.5%) 2.39 1,214
2018-10-01 $699,000 (-14.2%) $1,095,822 (-17.5%) 2.34 1,186
2018-11-01 $699,000 (-14.5%) $1,110,659 (-18.2%) 2.34 1,114
2018-12-01 $689,900 (-13.8%) $1,116,153 (-15.1%) 2.36 902
2019-01-01 $684,000 (-12.8%) $1,089,491 (-11.2%) 2.36 739
2019-02-01 $689,000 (-13.5%) $1,113,118 (-5.9%) 2.31 718
2019-03-01 $720,857 (-7.5%) $1,202,501 (1.1%) 2.35 757
2019-04-01 $757,500 (-0.7%) $1,266,324 (6.6%) 2.39 872
2019-05-01 $792,000 (0.1%) $1,357,457 (7.6%) 2.44 1,074
2019-06-01 $799,000 (6.7%) $1,391,814 (14.3%) 2.46 1,196
2019-07-01 $795,000 (7.9%) $1,335,369 (16.1%) 2.47 1,266
2019-08-01 $763,857 (9.2%) $1,265,143 (14.2%) 2.40 1,261
2019-09-01 $751,357 (5.1%) $1,248,132 (13.4%) 2.39 1,212
2019-10-01 $785,000 (12.3%) $1,290,476 (17.8%) 2.50 1,181
2019-11-01 $775,000 (10.9%) $1,278,438 (15.1%) 2.50 1,054
2019-12-01 $780,000 (13.1%) $1,239,828 (11.1%) 2.60 778
2020-01-01 $792,000 (15.8%) $1,205,036 (10.6%) 2.64 682
2020-02-01 $799,000 (16.0%) $1,179,034 (5.9%) 2.58 733
2020-03-01 $831,998 (15.4%) $1,205,241 (0.2%) 2.60 796
2020-04-01 $792,000 (4.6%) $1,142,891 (-9.8%) 2.47 792
2020-05-01 $775,000 (-2.2%) $1,143,569 (-15.8%) 2.35 1,004
2020-06-01 $772,000 (-3.4%) $1,223,650 (-12.1%) 2.25 1,014
2020-07-01 $794,950 (0.0%) $1,334,701 (-0.1%) 2.28 897
2020-08-01 $829,000 (8.5%) $1,395,495 (10.3%) 2.37 787
2020-09-01 $845,000 (12.5%) $1,371,926 (9.9%) 2.41 695
2020-10-01 $849,000 (8.2%) $1,388,532 (7.6%) 2.43 786
2020-11-01 $825,000 (6.5%) $1,372,245 (7.3%) 2.36 815
2020-12-01 $817,475 (4.8%) $1,352,201 (9.1%) 2.40 668
2021-01-01 $812,000 (2.5%) $1,397,935 (16.0%) 2.39 561
2021-02-01 $827,000 (3.5%) $1,411,667 (19.7%) 2.38 520
2021-03-01 $820,500 (-1.4%) $1,416,860 (17.6%) 2.30 553
2021-04-01 $864,450 (9.2%) $1,480,583 (29.6%) 2.32 602
2021-05-01 $885,000 (14.2%) $1,549,564 (35.5%) 2.33 659
2021-06-01 $880,000 (14.0%) $1,520,804 (24.3%) 2.29 747
2021-07-01 $872,475 (9.8%) $1,496,709 (12.1%) 2.27 767
2021-08-01 $857,500 (3.4%) $1,441,586 (3.3%) 2.25 752
2021-09-01 $875,000 (3.6%) $1,492,546 (8.8%) 2.30 724
2021-10-01 $899,000 (5.9%) $1,565,077 (12.7%) 2.37 655
2021-11-01 $899,495 (9.0%) $1,620,262 (18.1%) 2.37 487
2021-12-01 $918,495 (12.4%) $1,683,319 (24.5%) 2.45 341
2022-01-01 $926,900 (14.2%) $1,719,373 (23.0%) 2.47 248
2022-02-01 $964,000 (16.6%) $1,775,025 (25.7%) 2.46 277
2022-03-01 $987,500 (20.4%) $1,777,857 (25.5%) 2.44 359
2022-04-01 $1,049,990 (21.5%) $1,872,430 (26.5%) 2.47 405
Santa Rosa's median listing price for 2022-04-01 was $1,049,990, a difference of $185,540 (21.5%) versus the prior year and $62,490 versus the prior month.

Santa Rosa's median listing price comes in at 247% of the national average.

Santa Rosa's average listing price for 2022-04-01 was $1,872,430, a difference of $391,847 (26.5%) versus the prior year and $94,573 versus the prior month.

For the 2022-04-01 period, Santa Rosa had 405 MLS listings, a difference of 46 listings (13%) versus the prior month and -197 listings (-33%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Santa Rosa (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 47 days 1,745 sqft
2018-02-01 30 days 1,843 sqft
2018-03-01 29 days 1,814 sqft
2018-04-01 26 days 1,767 sqft
2018-05-01 29 days 1,755 sqft
2018-06-01 32 days 1,752 sqft
2018-07-01 36 days 1,732 sqft
2018-08-01 43 days 1,700 sqft
2018-09-01 47 days 1,706 sqft
2018-10-01 52 days 1,699 sqft
2018-11-01 54 days 1,698 sqft
2018-12-01 66 days 1,682 sqft
2019-01-01 77 days 1,656 sqft
2019-02-01 72 days 1,666 sqft
2019-03-01 48 days 1,690 sqft
2019-04-01 38 days 1,738 sqft
2019-05-01 37 days 1,802 sqft
2019-06-01 44 days 1,825 sqft
2019-07-01 49 days 1,816 sqft
2019-08-01 53 days 1,813 sqft
2019-09-01 61 days 1,816 sqft
2019-10-01 63 days 1,837 sqft
2019-11-01 69 days 1,815 sqft
2019-12-01 79 days 1,808 sqft
2020-01-01 88 days 1,839 sqft
2020-02-01 62 days 1,862 sqft
2020-03-01 43 days 1,935 sqft
2020-04-01 49 days 1,901 sqft
2020-05-01 53 days 1,870 sqft
2020-06-01 39 days 1,876 sqft
2020-07-01 44 days 1,889 sqft
2020-08-01 42 days 1,938 sqft
2020-09-01 45 days 1,907 sqft
2020-10-01 42 days 1,912 sqft
2020-11-01 42 days 1,858 sqft
2020-12-01 54 days 1,839 sqft
2021-01-01 64 days 1,865 sqft
2021-02-01 38 days 1,863 sqft
2021-03-01 32 days 1,877 sqft
2021-04-01 32 days 1,896 sqft
2021-05-01 31 days 1,902 sqft
2021-06-01 31 days 1,883 sqft
2021-07-01 35 days 1,876 sqft
2021-08-01 38 days 1,852 sqft
2021-09-01 39 days 1,871 sqft
2021-10-01 43 days 1,884 sqft
2021-11-01 52 days 1,921 sqft
2021-12-01 62 days 1,919 sqft
2022-01-01 56 days 1,906 sqft
2022-02-01 25 days 1,870 sqft
2022-03-01 22 days 1,867 sqft
2022-04-01 25 days 1,900 sqft
Santa Rosa's median listing age (time on market) for 2022-04-01 was 25 days. This is -22% shorter than the same period one year ago.

Santa Rosa's median square footage for active listings during the 2022-04-01 period was 1,900 sqft. One year prior, the average listing was 1,896 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).