Shelton FHA Loan Rates, Closing Costs & Stats

Shelton, WA

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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.

    Shelton's 56 lenders originated 314 FHA loans during 2024. The total origination value was $105,360,000, with an average FHA loan value of $335,541.

    Shelton FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Shelton averaged 6.83% for the week of 2025-07-11, compared to the national average (all FHA variants) of 6.523% for the same period.

    Shelton's average FHA mortgage closing costs are $10,283.

    The average rate for the prior week (2025-07-04) was 6.47% and one month ago for the week of 2025-06-06, the average rate was 6.5%.

    The average rate one year ago was 6.73%.

    For refis of the same type during the week of 2025-07-11, the average rate was 6.2%.

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

    Shelton 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 Shelton level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    MOVEMENT MORTGAGE, LLC 39 6.79% $14,776
    UNITED WHOLESALE MORTGAGE, LLC 26 6.05% $14,884
    GUILD MORTGAGE COMPANY 25 6.69% $14,263
    CROSSCOUNTRY MORTGAGE, LLC 19 6.62% $15,677
    QUICKEN LOANS, LLC 15 6.30% $12,270
    EAGLE HOME MORTGAGE, LLC 13 5.10% $12,970
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.76% $14,668
    BROKER SOLUTIONS, INC. 7 6.68% $14,658
    FREEDOM MORTGAGE CORPORATION 7 6.29% $15,494
    PENNYMAC LOAN SERVICES, LLC 6 6.50% $14,029
    NOVA FINANCIAL & INVESTMENT CORPORATION 4 6.38% $15,105
    T2 FINANCIAL LLC 4 7.25% $12,107
    CMG MORTGAGE, INC. 4 6.63% $14,981
    CARDINAL FINANCIAL 4 6.53% $14,884
    1st Security Bank of Washington 3 6.21% $16,139
    AMERICAN FINANCIAL NETWORK, INC. 3 6.63% $15,846
    CORNERSTONE HOME LENDING, INC. 3 6.54% $12,207
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 3 6.54% $16,960
    LOANDEPOT.COM, LLC 3 5.83% $17,300
    Mr. Cooper ( Nationstar Mortgage ) 3 6.54% $6,514
    NEWREZ LLC 3 6.25% $12,790
    RESIDENTIAL MORTGAGE, LLC 3 6.17% $14,192
    GUARANTEED RATE, INC. 2 5.56% $15,455
    INTELLILOAN, INC. 2 5.63% $6,607
    LAKEVIEW LOAN SERVICING, LLC 2 6.00% $14,801
    MID AMERICA MORTGAGE, INC. 2 6.88% $6,102
    Carrington Mortgage Services, LLC 2 7.13% $11,625
    WASHINGTON STATE EMPLOYEES Credit Union 2 6.31% $11,029
    CALCON MUTUAL MORTGAGE LLC 2 6.38% $17,192
    PLANET HOME LENDING, LLC 2 6.25% $12,987
    BAY EQUITY LLC 2 6.88% $15,376
    Equity Prime Mortgage LLC 2 7.00% $14,168
    Cornerstone First Mortgage, Inc 2 6.75% $13,781
    Flagstar Bank, FSB 2 5.81% $12,701
    Sunflower Bank 1 7.38% $14,128
    CANOPY MORTGAGE, LLC 1 5.88% $32,240
    ON Q FINANCIAL, INC. 1 7.50% $12,979
    Opportunity Bank of Montana 1 6.00% $8,528
    Paramount Residential Mortgage Group, Inc. 1 7.13% $12,812
    American Mortgage & Equity Consultants, Inc. 1 7.25% $14,910
    PHH Mortgage Corporation 1 6.99% $13,501
    Plains Commerce Bank 1 7.38% $15,440
    CHURCHILL MORTGAGE CORPORATION 1 7.00% $15,721
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.38% $5,324
    The Loan Store, Inc. 1 6.63% $15,827
    Century Mortgage Company DBA Century Lending Company 1 5.75% $22,107
    ZILLOW HOME LOANS, LLC 1 5.75% $14,395
    Sierra Pacific Mortgage Company, Inc. 1 7.13% $18,444
    ALLIED MORTGAGE GROUP, INC. 1 5.75% $11,511
    MASON MCDUFFIE MORTGAGE CORPORATION 1 5.75% $24,104
    Strong Home Mortgage, LLC 1 5.13% $6,968
    ML Mortgage Corp. 1 6.75% $12,845
    SUMMIT FUNDING, INC. 1 6.63% $19,340
    U.S. Bank 1 7.13% $11,354
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.50% $21,700
    NATIONS DIRECT MORTGAGE, LLC 1 6.13% $19,591

    The top Shelton FHA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 39 FHA loans originated. Their average total fees are $14,776, which is $108 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Shelton FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($12,270), EAGLE HOME MORTGAGE, LLC ($12,970), GUILD MORTGAGE COMPANY ($14,263), MOVEMENT MORTGAGE, LLC ($14,776) and UNITED WHOLESALE MORTGAGE, LLC ($14,884).

    The lowest rate Shelton FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.10%), UNITED WHOLESALE MORTGAGE, LLC (6.05%), QUICKEN LOANS, LLC (6.30%), CROSSCOUNTRY MORTGAGE, LLC (6.62%) and GUILD MORTGAGE COMPANY (6.69%).

    Shelton FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    SHELTON, WA MASON 2022 $420,680 $538,650 $651,050 $809,150
    SHELTON, WA MASON 2023 $472,030 $604,400 $730,525 $907,900

    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).