Santa Rosa FHA Loan Rates, Closing Costs & Stats

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 0.07% for the week of 2023-01-20, compared to the national average (all FHA variants) of 0% for the same period.

Santa Rosa's average FHA mortgage closing costs are $14,132.

The average rate for the prior week (2023-01-13) was 5.89% and one month ago for the week of 2022-12-16, the average rate was 6.28%.

The average rate one year ago was 3.58%.

For refis of the same type during the week of 2023-01-20, the average rate was -0.2%.

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/closing costs 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. Closing Costs
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 MORTGAGE 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
LENDUS, LLC 2 2.69% $13,998
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.25% $16,924
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
ENVOY MORTGAGE, LTD 1 2.50% $14,620
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
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
M&T Bank 1 2.88% $9,923
LEADERONE FINANCIAL CORPORATION 1 3.13% $16,604
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 MORTGAGE ($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 MORTGAGE (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 $790,250 (10.8%) $1,231,307 (10.9%) 2.93 407
2018-02-01 $797,000 (9.9%) $1,200,558 (8.3%) 2.89 444
2018-03-01 $777,000 (5.4%) $1,196,027 (0.1%) 2.73 524
2018-04-01 $762,475 (0.3%) $1,189,317 (-9.6%) 2.58 617
2018-05-01 $792,000 (2.6%) $1,273,397 (-0.6%) 2.64 760
2018-06-01 $749,000 (-3.9%) $1,211,005 (-3.8%) 2.50 923
2018-07-01 $736,000 (-1.9%) $1,150,500 (-6.3%) 2.46 1,086
2018-08-01 $699,475 (-7.3%) $1,107,502 (-11.8%) 2.34 1,172
2018-09-01 $709,500 (-10.6%) $1,101,240 (-14.4%) 2.38 1,208
2018-10-01 $699,000 (-14.2%) $1,101,160 (-16.4%) 2.36 1,177
2018-11-01 $699,000 (-15.6%) $1,116,805 (-18.5%) 2.37 1,105
2018-12-01 $689,990 (-16.8%) $1,114,312 (-15.8%) 2.38 896
2019-01-01 $682,000 (-13.7%) $1,079,414 (-12.3%) 2.35 725
2019-02-01 $688,800 (-13.6%) $1,114,305 (-7.2%) 2.33 700
2019-03-01 $720,857 (-7.2%) $1,201,831 (0.5%) 2.36 745
2019-04-01 $757,500 (-0.7%) $1,259,293 (5.9%) 2.41 868
2019-05-01 $791,000 (-0.1%) $1,331,851 (4.6%) 2.47 1,061
2019-06-01 $799,000 (6.7%) $1,362,336 (12.5%) 2.50 1,179
2019-07-01 $795,000 (8.0%) $1,332,934 (15.9%) 2.49 1,251
2019-08-01 $774,182 (10.7%) $1,298,779 (17.3%) 2.45 1,250
2019-09-01 $772,955 (8.9%) $1,289,903 (17.1%) 2.47 1,207
2019-10-01 $773,136 (10.6%) $1,281,677 (16.4%) 2.49 1,166
2019-11-01 $775,000 (10.9%) $1,277,479 (14.4%) 2.54 1,054
2019-12-01 $770,650 (11.7%) $1,253,128 (12.5%) 2.57 771
2020-01-01 $767,500 (12.5%) $1,194,224 (10.6%) 2.56 679
2020-02-01 $792,068 (15.0%) $1,168,486 (4.9%) 2.59 725
2020-03-01 $799,000 (10.8%) $1,205,979 (0.4%) 2.50 792
2020-04-01 $781,944 (3.2%) $1,176,971 (-6.5%) 2.45 790
2020-05-01 $769,000 (-2.8%) $1,146,057 (-14.0%) 2.34 999
2020-06-01 $763,750 (-4.4%) $1,228,384 (-9.8%) 2.25 1,024
2020-07-01 $784,248 (-1.4%) $1,299,527 (-2.5%) 2.27 899
2020-08-01 $799,000 (3.2%) $1,337,303 (3.0%) 2.29 786
2020-09-01 $808,500 (4.6%) $1,348,645 (4.6%) 2.32 704
2020-10-01 $839,000 (8.5%) $1,371,691 (7.0%) 2.40 781
2020-11-01 $809,975 (4.5%) $1,356,234 (6.2%) 2.37 807
2020-12-01 $799,999 (3.8%) $1,351,295 (7.8%) 2.38 666
2021-01-01 $799,000 (4.1%) $1,375,774 (15.2%) 2.39 556
2021-02-01 $830,944 (4.9%) $1,429,335 (22.3%) 2.42 530
2021-03-01 $822,000 (2.9%) $1,408,264 (16.8%) 2.33 563
2021-04-01 $859,225 (9.9%) $1,463,127 (24.3%) 2.33 622
2021-05-01 $887,000 (15.3%) $1,523,123 (32.9%) 2.35 678
2021-06-01 $877,000 (14.8%) $1,526,730 (24.3%) 2.31 757
2021-07-01 $865,000 (10.3%) $1,507,880 (16.0%) 2.28 760
2021-08-01 $849,988 (6.4%) $1,468,555 (9.8%) 2.27 765
2021-09-01 $875,000 (8.2%) $1,528,602 (13.3%) 2.33 742
2021-10-01 $896,500 (6.9%) $1,600,888 (16.7%) 2.39 669
2021-11-01 $897,000 (10.7%) $1,659,822 (22.4%) 2.40 499
2021-12-01 $915,745 (14.5%) $1,734,824 (28.4%) 2.48 352
2022-01-01 $929,000 (16.3%) $1,768,326 (28.5%) 2.51 257
2022-02-01 $954,500 (14.9%) $1,817,970 (27.2%) 2.48 294
2022-03-01 $989,500 (20.4%) $1,855,621 (31.8%) 2.48 369
2022-04-01 $995,000 (15.8%) $1,918,519 (31.1%) 2.37 415
2022-05-01 $975,000 (9.9%) $1,839,120 (20.8%) 2.23 547
2022-06-01 $965,625 (10.1%) $1,831,919 (20.0%) 2.15 615
2022-07-01 $959,000 (10.9%) $1,722,565 (14.2%) 2.17 688
2022-08-01 $949,000 (11.7%) $1,689,838 (15.1%) 2.19 710
2022-09-01 $942,000 (7.7%) $1,694,209 (10.8%) 2.20 718
2022-10-01 $919,000 (2.5%) $1,748,368 (9.2%) 2.16 730
2022-11-01 $932,225 (3.9%) $1,796,419 (8.2%) 2.24 643
2022-12-01 $899,000 (-1.8%) $1,718,122 (-1.0%) 2.25 511
Santa Rosa's median listing price for 2022-12-01 was $899,000, a difference of $-16,745 (-1.8%) versus the prior year and $-33,225 versus the prior month.

Santa Rosa's median listing price comes in at 225% of the national average.

Santa Rosa's average listing price for 2022-12-01 was $1,718,122, a difference of $-16,702 (-1.0%) versus the prior year and $-78,297 versus the prior month.

For the 2022-12-01 period, Santa Rosa had 511 MLS listings, a difference of -132 listings (-21%) versus the prior month and 159 listings (45%) 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 1,740 sqft
2018-02-01 30 days 1,837 sqft
2018-03-01 29 days 1,795 sqft
2018-04-01 26 days 1,760 sqft
2018-05-01 30 days 1,755 sqft
2018-06-01 32 days 1,748 sqft
2018-07-01 35 days 1,726 sqft
2018-08-01 43 days 1,699 sqft
2018-09-01 47 days 1,700 sqft
2018-10-01 52 days 1,700 sqft
2018-11-01 54 days 1,700 sqft
2018-12-01 67 days 1,683 sqft
2019-01-01 79 days 1,659 sqft
2019-02-01 73 days 1,668 sqft
2019-03-01 57 days 1,693 sqft
2019-04-01 37 days 1,735 sqft
2019-05-01 36 days 1,799 sqft
2019-06-01 44 days 1,811 sqft
2019-07-01 49 days 1,810 sqft
2019-08-01 55 days 1,811 sqft
2019-09-01 62 days 1,814 sqft
2019-10-01 69 days 1,816 sqft
2019-11-01 79 days 1,802 sqft
2019-12-01 90 days 1,794 sqft
2020-01-01 96 days 1,806 sqft
2020-02-01 73 days 1,848 sqft
2020-03-01 51 days 1,908 sqft
2020-04-01 56 days 1,857 sqft
2020-05-01 59 days 1,855 sqft
2020-06-01 49 days 1,862 sqft
2020-07-01 55 days 1,871 sqft
2020-08-01 54 days 1,901 sqft
2020-09-01 58 days 1,871 sqft
2020-10-01 47 days 1,883 sqft
2020-11-01 46 days 1,843 sqft
2020-12-01 58 days 1,814 sqft
2021-01-01 71 days 1,840 sqft
2021-02-01 60 days 1,864 sqft
2021-03-01 44 days 1,872 sqft
2021-04-01 45 days 1,896 sqft
2021-05-01 43 days 1,903 sqft
2021-06-01 43 days 1,884 sqft
2021-07-01 48 days 1,870 sqft
2021-08-01 52 days 1,845 sqft
2021-09-01 55 days 1,877 sqft
2021-10-01 58 days 1,884 sqft
2021-11-01 63 days 1,933 sqft
2021-12-01 73 days 1,933 sqft
2022-01-01 63 days 1,913 sqft
2022-02-01 36 days 1,887 sqft
2022-03-01 39 days 1,870 sqft
2022-04-01 43 days 1,906 sqft
2022-05-01 41 days 1,889 sqft
2022-06-01 46 days 1,893 sqft
2022-07-01 49 days 1,878 sqft
2022-08-01 54 days 1,848 sqft
2022-09-01 60 days 1,840 sqft
2022-10-01 64 days 1,840 sqft
2022-11-01 69 days 1,851 sqft
2022-12-01 83 days 1,827 sqft
Santa Rosa's median listing age (time on market) for 2022-12-01 was 83 days. This is 13% longer than the same period one year ago.

Santa Rosa's median square footage for active listings during the 2022-12-01 period was 1,827 sqft. One year prior, the average listing was 1,933 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).