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 63 lenders originated 384 FHA loans during 2023. The total origination value was $210,750,000, with an average FHA loan value of $548,828.

Santa Rosa FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Santa Rosa averaged 6.57% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Santa Rosa's average FHA mortgage closing costs are $15,310.

The average rate for the prior week (2024-04-05) was 6.5% and one month ago for the week of 2024-03-08, the average rate was 6.54%.

The average rate one year ago was 6.37%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.76%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 60 6.09% $22,958
QUICKEN LOANS, LLC 28 6.21% $19,501
CROSSCOUNTRY MORTGAGE, LLC 20 6.47% $25,096
BROKER SOLUTIONS, INC. 15 6.52% $25,089
SUMMIT FUNDING, INC. 13 6.64% $28,113
LOANDEPOT.COM, LLC 12 6.43% $20,685
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 6.25% $24,939
Century Mortgage Company DBA Century Lending Company 6 6.21% $21,356
PACIFIC RESIDENTIAL MORTGAGE, LLC 6 6.35% $21,048
CALIBER HOME LOANS, INC. 6 6.17% $19,501
Ameris Bank 6 6.17% $18,815
PENNYMAC LOAN SERVICES, LLC 5 6.57% $17,694
GUILD MORTGAGE COMPANY 4 6.38% $29,791
AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.75% $20,573
FREEDOM MORTGAGE CORPORATION 4 7.00% $22,145
AXIA FINANCIAL, LLC 4 6.63% $26,652
GUARANTEED RATE AFFINITY, LLC 4 6.56% $25,617
NATIONS DIRECT MORTGAGE, LLC 3 6.17% $29,871
Golden Empire Mortgage, Inc. 3 6.58% $29,197
OCMBC, INC. 3 6.17% $21,697
NEWREZ LLC 3 6.71% $16,284
PREMIER LENDING, INC. 3 6.88% $18,202
U.S. Bank 3 6.92% $20,975
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.94% $28,093
MOVEMENT MORTGAGE, LLC 2 6.50% $22,242
DHI MORTGAGE COMPANY, LTD. 2 5.75% $25,487
BECKAM FUNDING CORP. 2 7.25% $40,153
PLANET HOME LENDING, LLC 2 5.62% $23,512
Flagstar Bank, FSB 2 6.13% $25,959
CMG MORTGAGE, INC. 2 6.75% $17,845
Sierra Pacific Mortgage Company, Inc. 2 5.69% $18,131
GUARANTEED RATE, INC. 2 5.50% $16,138
Umpqua Bank 2 6.31% $15,673
AHL FUNDING 2 6.62% $21,308
MASON MCDUFFIE MORTGAGE CORPORATION 2 5.69% $20,165
RESIDENTIAL BANCORP 1 7.25% $21,472
ALAMEDA MORTGAGE CORPORATION 1 7.13% $27,085
American Mortgage & Equity Consultants, Inc. 1 5.63% $32,065
AMERISAVE MORTGAGE CORPORATION 1 5.25% $25,435
Barrington Bank & Trust Company, N.A. 1 6.25% $22,373
CALCON MUTUAL MORTGAGE LLC 1 6.63% $20,566
CARDINAL FINANCIAL 1 6.75% $23,936
Commerce Home Mortgage, Inc. 1 7.63% $17,529
DATA MORTGAGE, INC. 1 7.38% $20,936
EVERETT FINANCIAL, INC. 1 5.63% $22,942
Franklin Loan Corporation 1 5.63% $34,704
HOMEAMERICAN MORTGAGE CORPORATION 1 7.00% $14,620
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 5.13% $30,504
JMAC LENDING, INC. 1 7.13% $14,103
MLD MORTGAGE INC. 1 6.13% $26,634
MORTGAGEONE, INC. 1 6.25% $14,919
Mortgage Research Center, LLC 1 5.75% $11,371
Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $20,983
NexBank 1 7.00% $23,342
Paramount Residential Mortgage Group, Inc. 1 7.00% $45,597
Plains Commerce Bank 1 6.13% $15,032
PLAZA HOME MORTGAGE, INC. 1 6.25% $18,323
PREMIA MORTGAGE, LLC 1 5.75% $10,994
PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.88% $24,558
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $30,446
ACADEMY MORTGAGE CORPORATION 1 5.75% $24,253
SECURITYNATIONAL MORTGAGE COMPANY 1 8.13% $41,793
The Loan Store, Inc. 1 7.13% $17,334

The top Santa Rosa FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 60 FHA loans originated. Their average total fees are $22,958, which is $3,457 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 ($19,501), LOANDEPOT.COM, LLC ($20,685), UNITED WHOLESALE MORTGAGE, LLC ($22,958), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($24,939) and BROKER SOLUTIONS, INC. ($25,089).

The lowest rate Santa Rosa FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.09%), QUICKEN LOANS, LLC (6.21%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.25%), LOANDEPOT.COM, LLC (6.43%) and CROSSCOUNTRY MORTGAGE, LLC (6.47%).

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 (10.2%) $1,231,307 (10.5%) 2.93 407
2018-02-01 $797,000 (9.9%) $1,200,558 (7.7%) 2.89 444
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 (-8.9%) 2.59 617
2018-05-01 $792,000 (2.6%) $1,273,397 (0.0%) 2.64 760
2018-06-01 $749,000 (-3.9%) $1,211,005 (-4.7%) 2.50 923
2018-07-01 $736,000 (-2.5%) $1,150,500 (-6.8%) 2.46 1,086
2018-08-01 $699,463 (-7.3%) $1,107,243 (-11.2%) 2.34 1,172
2018-09-01 $709,500 (-10.6%) $1,100,755 (-13.9%) 2.38 1,208
2018-10-01 $699,000 (-14.2%) $1,101,423 (-15.8%) 2.37 1,177
2018-11-01 $699,000 (-15.5%) $1,115,671 (-17.8%) 2.37 1,105
2018-12-01 $689,990 (-16.8%) $1,113,843 (-15.4%) 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 $791,250 (-0.1%) $1,335,282 (4.9%) 2.47 1,062
2019-06-01 $799,000 (6.7%) $1,365,346 (12.7%) 2.50 1,180
2019-07-01 $795,000 (8.0%) $1,335,856 (16.1%) 2.49 1,252
2019-08-01 $774,727 (10.8%) $1,301,705 (17.6%) 2.45 1,251
2019-09-01 $774,318 (9.1%) $1,292,898 (17.5%) 2.48 1,208
2019-10-01 $774,045 (10.7%) $1,284,433 (16.6%) 2.50 1,167
2019-11-01 $775,000 (10.9%) $1,278,268 (14.6%) 2.54 1,055
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%) 2.59 725
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 (-14.2%) 2.34 999
2020-06-01 $763,750 (-4.4%) $1,228,384 (-10.0%) 2.25 1,024
2020-07-01 $784,248 (-1.4%) $1,299,527 (-2.7%) 2.27 899
2020-08-01 $799,000 (3.1%) $1,337,303 (2.7%) 2.29 786
2020-09-01 $808,500 (4.4%) $1,348,645 (4.3%) 2.32 704
2020-10-01 $839,000 (8.4%) $1,371,691 (6.8%) 2.40 781
2020-11-01 $809,975 (4.5%) $1,356,234 (6.1%) 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
2023-06-01 $1,125,000 (16.5%) $1,935,415 (5.7%) 2.53 651
2023-07-01 $1,079,000 (13.6%) $1,864,039 (8.4%) 2.45 708
2023-08-01 $1,065,000 (12.5%) $1,858,746 (10.0%) 2.45 701
2023-09-01 $1,070,990 (13.9%) $1,893,877 (11.8%) 2.49 763
2023-10-01 $1,057,000 (15.0%) $1,894,714 (8.4%) 2.49 768
2023-11-01 $1,004,800 (7.8%) $1,892,938 (5.4%) 2.39 723
2023-12-01 $969,990 (7.8%) $1,786,960 (3.6%) 2.37 537
2024-01-01 $950,748 (3.6%) $1,759,251 (-1.5%) 2.32 453
2024-02-01 $970,000 (2.0%) $1,842,492 (2.2%) 2.33 445
2024-03-01 $989,000 (0.2%) $2,006,805 (10.1%) 2.33 503
Santa Rosa's median listing price for 2024-03-01 was $989,000, a difference of $1,500 (0.2%) versus the prior year and $19,000 versus the prior month.

Santa Rosa's median listing price comes in at 233% of the national average.

Santa Rosa's average listing price for 2024-03-01 was $2,006,805, a difference of $183,612 (10.1%) versus the prior year and $164,313 versus the prior month.

For the 2024-03-01 period, Santa Rosa had 503 MLS listings, a difference of 58 listings (13%) versus the prior month and 94 listings (23%) 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 1,729 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 1,764 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 1,700 sqft
2018-12-01 65 days 1,683 sqft
2019-01-01 77 days 1,659 sqft
2019-02-01 71 days 1,668 sqft
2019-03-01 56 days 1,692 sqft
2019-04-01 34 days 1,736 sqft
2019-05-01 34 days 1,800 sqft
2019-06-01 43 days 1,813 sqft
2019-07-01 47 days 1,811 sqft
2019-08-01 54 days 1,812 sqft
2019-09-01 61 days 1,816 sqft
2019-10-01 66 days 1,819 sqft
2019-11-01 75 days 1,808 sqft
2019-12-01 86 days 1,798 sqft
2020-01-01 94 days 1,811 sqft
2020-02-01 68 days 1,849 sqft
2020-03-01 48 days 1,910 sqft
2020-04-01 55 days 1,861 sqft
2020-05-01 57 days 1,857 sqft
2020-06-01 45 days 1,862 sqft
2020-07-01 52 days 1,871 sqft
2020-08-01 51 days 1,903 sqft
2020-09-01 53 days 1,876 sqft
2020-10-01 45 days 1,883 sqft
2020-11-01 43 days 1,848 sqft
2020-12-01 56 days 1,815 sqft
2021-01-01 67 days 1,839 sqft
2021-02-01 54 days 1,865 sqft
2021-03-01 42 days 1,872 sqft
2021-04-01 44 days 1,898 sqft
2021-05-01 42 days 1,903 sqft
2021-06-01 42 days 1,889 sqft
2021-07-01 47 days 1,870 sqft
2021-08-01 51 days 1,846 sqft
2021-09-01 54 days 1,878 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 1,939 sqft
2022-02-01 35 days 1,901 sqft
2022-03-01 37 days 1,874 sqft
2022-04-01 40 days 1,915 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 1,826 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 1,999 sqft
2023-06-01 46 days 2,023 sqft
2023-07-01 42 days 1,955 sqft
2023-08-01 46 days 1,982 sqft
2023-09-01 46 days 2,004 sqft
2023-10-01 48 days 1,999 sqft
2023-11-01 55 days 1,976 sqft
2023-12-01 68 days 1,937 sqft
2024-01-01 73 days 1,910 sqft
2024-02-01 57 days 1,922 sqft
2024-03-01 35 days 1,918 sqft
Santa Rosa's median listing age (time on market) for 2024-03-01 was 35 days. This is -31% shorter than the same period one year ago.

Santa Rosa's median square footage for active listings during the 2024-03-01 period was 1,918 sqft. One year prior, the average listing was 1,913 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).