Santa Rosa FHA Loan Rates, Closing Costs & Stats

SANTA ROSA-PETALUMA, CA

  • 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.

    Santa Rosa's 68 lenders originated 486 FHA loans during 2022. The total origination value was $245,020,000, with an average FHA loan value of $504,156.

    Santa Rosa FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Santa Rosa averaged -0.61% for the week of 2023-06-02, compared to the national average (all FHA variants) of 0% for the same period.

    Santa Rosa's average FHA mortgage closing costs are $14,593.

    The average rate for the prior week (2023-05-26) was 5.82% and one month ago for the week of 2023-04-28, the average rate was 5.77%.

    The average rate one year ago was 4.73%.

    For refis of the same type during the week of 2023-06-02, the average rate was -2.01%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 41 4.91% $20,331
    QUICKEN LOANS, LLC 24 4.51% $16,679
    CALIBER HOME LOANS, INC. 18 4.57% $18,075
    LOANDEPOT.COM, LLC 18 4.82% $19,482
    CROSSCOUNTRY MORTGAGE, LLC 16 5.05% $23,373
    Century Mortgage Company DBA Century Lending Company 11 4.82% $18,764
    SUMMIT FUNDING, INC. 9 5.12% $21,124
    HOME POINT FINANCIAL CORPORATION 7 3.89% $22,936
    GUARANTEED RATE AFFINITY, LLC 7 5.19% $16,774
    Flagstar Bank, FSB 6 3.88% $15,688
    PREMIER LENDING, INC. 6 5.13% $18,833
    FINANCE OF AMERICA MORTGAGE LLC 6 4.60% $17,352
    U.S. Bank 5 4.03% $20,834
    BROKER SOLUTIONS, INC. 5 4.02% $18,655
    FREEDOM MORTGAGE CORPORATION 4 3.56% $14,070
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 4 4.38% $15,046
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 4.87% $16,910
    S1L, Inc. 4 3.97% $15,837
    Sierra Pacific Mortgage Company, Inc. 4 5.78% $15,691
    AXIA FINANCIAL, LLC 4 5.69% $23,729
    Commerce Home Mortgage, Inc. 3 4.33% $18,324
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 4.83% $15,484
    AMERISAVE MORTGAGE CORPORATION 3 4.71% $22,349
    CARDINAL FINANCIAL 3 3.50% $22,191
    EVERETT FINANCIAL, INC. 3 5.17% $13,621
    LAKEVIEW LOAN SERVICING, LLC 3 3.25% $8,552
    Mr. Cooper ( Nationstar Mortgage ) 3 4.46% $16,241
    PENNYMAC LOAN SERVICES, LLC 3 3.42% $11,605
    RESIDENTIAL BANCORP. 3 4.79% $21,360
    NEWREZ LLC 2 4.69% $17,395
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 5.25% $25,144
    OCMBC, INC. 2 5.56% $21,877
    Wells Fargo Bank 2 4.50% $18,289
    GUARANTEED RATE, INC. 2 5.88% $22,137
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.13% $14,567
    PANORAMA MORTGAGE GROUP, LLC 2 4.56% $25,304
    Bank of the West 2 5.50% $16,114
    VILLAGE CAPITAL MORTGAGE 2 2.56% $12,973
    ENVOY MORTGAGE, LTD 2 4.88% $25,529
    MASON MCDUFFIE MORTGAGE CORPORATION 2 4.25% $23,271
    MID AMERICA MORTGAGE, INC. 2 5.50% $7,810
    GENEVA FINANCIAL, LLC 2 5.31% $31,367
    PHH Mortgage Corporation 1 4.00% $16,131
    Plains Commerce Bank 1 4.25% $13,361
    PLAZA HOME MORTGAGE, INC. 1 4.49% $17,308
    AMERICAN FINANCING CORPORATION 1 6.75% $11,657
    COASTAL FUNDING SLC, INC. 1 4.50% $25,906
    Citizens Bank 1 3.00% $14,746
    Carrington Mortgage Services, LLC 1 4.63% $26,864
    CALCON MUTUAL MORTGAGE LLC 1 4.75% $33,170
    ST FIN CORP 1 3.99% $22,643
    BECKAM FUNDING CORP. 1 3.38% $10,273
    FBC MORTGAGE, LLC 1 4.99% $35,294
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.99% $12,781
    Franklin Loan Corporation 1 6.13% $20,967
    Equity Prime Mortgage LLC 1 5.00% $34,649
    DRAPER AND KRAMER MORTGAGE CORP. 1 2.75% $12,147
    JMAC LENDING, INC. 1 5.50% $18,866
    BAY EQUITY LLC 1 5.25% $16,280
    DHI MORTGAGE COMPANY, LTD. 1 4.63% $20,704
    MOUNTAIN WEST FINANCIAL, INC. 1 5.00% $29,419
    MOVEMENT MORTGAGE, LLC 1 3.63% $0
    NATIONS DIRECT MORTGAGE, LLC 1 4.38% $21,879
    Nations Lending Corporation 1 4.00% $22,758
    NATIONWIDE MORTGAGE BANKERS, INC. 1 5.25% $28,622
    ONY GLO, INC. 1 2.88% $20,348
    Pacific Lending LLC 1 6.25% $19,899
    Paramount Residential Mortgage Group, Inc. 1 6.00% $23,879

    The top Santa Rosa FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 41 FHA loans originated. Their average total fees are $20,331, which is $3,653 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Santa Rosa FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($16,679), CALIBER HOME LOANS, INC. ($18,075), Century Mortgage Company DBA Century Lending Company ($18,764), LOANDEPOT.COM, LLC ($19,482) and UNITED WHOLESALE MORTGAGE, LLC ($20,331).

    The lowest rate Santa Rosa FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.51%), CALIBER HOME LOANS, INC. (4.57%), Century Mortgage Company DBA Century Lending Company (4.82%), LOANDEPOT.COM, LLC (4.82%) and UNITED WHOLESALE MORTGAGE, LLC (4.91%).

    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
    SANTA ROSA-PETALUMA, CA SONOMA 2023 $861,350 $1,102,700 $1,332,900 $1,656,450

    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%) 2.90 444
    2018-03-01 $777,000 (5.1%) $1,196,027 (-0.4%) 2.73 524
    2018-04-01 $762,475 (0.3%) $1,189,317 (-9.6%) 2.59 617
    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 (-4.1%) 2.50 923
    2018-07-01 $736,000 (-1.9%) $1,150,500 (-6.3%) 2.46 1,086
    2018-08-01 $699,463 (-7.3%) $1,107,243 (-11.8%) 2.34 1,172
    2018-09-01 $709,500 (-10.6%) $1,100,755 (-14.5%) 2.39 1,208
    2018-10-01 $699,000 (-14.2%) $1,101,423 (-16.4%) 2.37 1,177
    2018-11-01 $699,000 (-15.6%) $1,115,671 (-18.6%) 2.37 1,105
    2018-12-01 $689,990 (-16.8%) $1,113,843 (-15.9%) 2.38 896
    2019-01-01 $681,500 (-13.8%) $1,078,741 (-12.4%) 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%) $1,201,613 (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 (17.2%) 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 (14.5%) 2.54 1,054
    2019-12-01 $770,650 (11.7%) $1,253,128 (12.5%) 2.57 771
    2020-01-01 $767,500 (12.6%) $1,194,224 (10.7%) 2.56 679
    2020-02-01 $792,068 (15.0%) $1,168,486 (4.9%) 2.60 725
    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%) $1,351,133 (7.8%) 2.38 666
    2021-01-01 $799,000 (4.1%) $1,375,774 (15.2%) 2.39 556
    2021-02-01 $827,000 (4.4%) $1,427,661 (22.2%) 2.41 530
    2021-03-01 $822,000 (2.9%) $1,407,855 (16.7%) 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%) $1,522,053 (32.8%) 2.36 680
    2021-06-01 $877,000 (14.8%) $1,530,392 (24.6%) 2.31 760
    2021-07-01 $865,000 (10.3%) $1,506,860 (16.0%) 2.28 763
    2021-08-01 $849,713 (6.4%) $1,464,681 (9.5%) 2.27 767
    2021-09-01 $875,000 (8.2%) $1,526,292 (13.2%) 2.33 744
    2021-10-01 $895,000 (6.7%) $1,602,360 (16.8%) 2.39 670
    2021-11-01 $897,000 (10.7%) $1,658,116 (22.3%) 2.40 500
    2021-12-01 $912,498 (14.1%) $1,733,710 (28.3%) 2.47 352
    2022-01-01 $929,000 (16.3%) $1,782,270 (29.6%) 2.51 257
    2022-02-01 $954,500 (15.4%) $1,817,970 (27.3%) 2.48 294
    2022-03-01 $989,500 (20.4%) $1,855,314 (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%) $1,838,479 (20.8%) 2.23 547
    2022-06-01 $965,625 (10.1%) $1,831,919 (19.7%) 2.15 615
    2022-07-01 $950,000 (9.8%) $1,720,085 (14.2%) 2.14 688
    2022-08-01 $946,500 (11.4%) $1,689,838 (15.4%) 2.19 710
    2022-09-01 $940,500 (7.5%) $1,693,713 (11.0%) 2.20 718
    2022-10-01 $919,000 (2.7%) $1,748,368 (9.1%) 2.16 730
    2022-11-01 $932,225 (3.9%) $1,796,419 (8.3%) 2.24 643
    2022-12-01 $899,925 (-1.4%) $1,725,602 (-0.5%) 2.22 507
    2023-01-01 $917,500 (-1.2%) $1,786,403 (0.2%) 2.27 409
    2023-02-01 $951,225 (-0.3%) $1,802,208 (-0.9%) 2.30 398
    2023-03-01 $987,500 (-0.2%) $1,823,193 (-1.7%) 2.33 409
    2023-04-01 $1,149,000 (15.5%) $1,989,093 (3.7%) 2.67 452
    2023-05-01 $1,100,000 (12.8%) $1,990,353 (8.3%) 2.49 550
    Santa Rosa's median listing price for 2023-05-01 was $1,100,000, a difference of $125,000 (12.8%) versus the prior year and $-49,000 versus the prior month.

    Santa Rosa's median listing price comes in at 249% of the national average.

    Santa Rosa's average listing price for 2023-05-01 was $1,990,353, a difference of $151,874 (8.3%) versus the prior year and $1,260 versus the prior month.

    For the 2023-05-01 period, Santa Rosa had 550 MLS listings, a difference of 98 listings (22%) versus the prior month and 3 listings (1%) 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 46 days 1,743 sqft
    2018-02-01 29 days 1,837 sqft
    2018-03-01 26 days 1,795 sqft
    2018-04-01 25 days 1,762 sqft
    2018-05-01 28 days 1,758 sqft
    2018-06-01 31 days 1,748 sqft
    2018-07-01 34 days 1,726 sqft
    2018-08-01 41 days 1,699 sqft
    2018-09-01 45 days 1,700 sqft
    2018-10-01 52 days 1,700 sqft
    2018-11-01 54 days 1,699 sqft
    2018-12-01 65 days 1,682 sqft
    2019-01-01 77 days 1,659 sqft
    2019-02-01 71 days 1,667 sqft
    2019-03-01 56 days 1,691 sqft
    2019-04-01 34 days 1,735 sqft
    2019-05-01 34 days 1,799 sqft
    2019-06-01 43 days 1,811 sqft
    2019-07-01 47 days 1,810 sqft
    2019-08-01 54 days 1,811 sqft
    2019-09-01 60 days 1,815 sqft
    2019-10-01 66 days 1,817 sqft
    2019-11-01 75 days 1,808 sqft
    2019-12-01 86 days 1,798 sqft
    2020-01-01 94 days 1,816 sqft
    2020-02-01 68 days 1,849 sqft
    2020-03-01 48 days 1,910 sqft
    2020-04-01 55 days 1,859 sqft
    2020-05-01 57 days 1,855 sqft
    2020-06-01 45 days 1,862 sqft
    2020-07-01 52 days 1,871 sqft
    2020-08-01 51 days 1,901 sqft
    2020-09-01 53 days 1,872 sqft
    2020-10-01 45 days 1,882 sqft
    2020-11-01 43 days 1,846 sqft
    2020-12-01 56 days 1,814 sqft
    2021-01-01 67 days 1,841 sqft
    2021-02-01 54 days 1,866 sqft
    2021-03-01 42 days 1,875 sqft
    2021-04-01 44 days 1,897 sqft
    2021-05-01 42 days 1,903 sqft
    2021-06-01 42 days 1,886 sqft
    2021-07-01 47 days 1,870 sqft
    2021-08-01 51 days 1,845 sqft
    2021-09-01 54 days 1,877 sqft
    2021-10-01 57 days 1,884 sqft
    2021-11-01 61 days 1,934 sqft
    2021-12-01 70 days 1,938 sqft
    2022-01-01 60 days 1,936 sqft
    2022-02-01 35 days 1,897 sqft
    2022-03-01 37 days 1,871 sqft
    2022-04-01 40 days 1,908 sqft
    2022-05-01 39 days 1,892 sqft
    2022-06-01 44 days 1,895 sqft
    2022-07-01 47 days 1,884 sqft
    2022-08-01 52 days 1,849 sqft
    2022-09-01 57 days 1,841 sqft
    2022-10-01 61 days 1,841 sqft
    2022-11-01 65 days 1,850 sqft
    2022-12-01 79 days 1,825 sqft
    2023-01-01 85 days 1,834 sqft
    2023-02-01 69 days 1,887 sqft
    2023-03-01 51 days 1,913 sqft
    2023-04-01 51 days 1,997 sqft
    2023-05-01 44 days 2,000 sqft
    Santa Rosa's median listing age (time on market) for 2023-05-01 was 44 days. This is 13% longer than the same period one year ago.

    Santa Rosa's median square footage for active listings during the 2023-05-01 period was 2,000 sqft. One year prior, the average listing was 1,892 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).