Show Low FHA Loan Rates, Closing Costs & Stats

Show Low, AZ

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.

Show Low's 52 lenders originated 199 FHA loans during 2023. The total origination value was $48,585,000, with an average FHA loan value of $244,146.

Show Low FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Show Low averaged 6.59% for the week of 2024-11-01, compared to the national average (all FHA variants) of 6.387% for the same period.

Show Low's average FHA mortgage closing costs are $8,182.

The average rate for the prior week (2024-10-25) was 6.68% and one month ago for the week of 2024-09-27, the average rate was 6.08%.

The average rate one year ago was 7.87%.

For refis of the same type during the week of 2024-11-01, the average rate was 6.97%.

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

Show Low 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 Show Low level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 25 6.12% $12,361
QUICKEN LOANS, LLC 21 6.52% $11,548
AMERICAN PACIFIC MORTGAGE CORPORATION 17 6.43% $17,644
NOVA FINANCIAL & INVESTMENT CORPORATION 10 6.49% $7,133
GUILD MORTGAGE COMPANY 9 6.58% $10,732
ACADEMY MORTGAGE CORPORATION 4 6.88% $9,578
LOANDEPOT.COM, LLC 4 6.62% $10,693
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.81% $14,353
V.I.P. MORTGAGE, INC. 4 6.22% $16,216
CROSSCOUNTRY MORTGAGE, LLC 4 6.50% $11,449
NEWREZ LLC 4 6.84% $11,766
CMG MORTGAGE, INC. 3 6.92% $10,822
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 6.54% $8,747
Equity Prime Mortgage LLC 3 6.96% $13,734
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.38% $10,486
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.29% $11,602
LOANPAL, LLC 3 5.42% $15,171
FREEDOM MORTGAGE CORPORATION 3 6.50% $11,926
AMERISAVE MORTGAGE CORPORATION 3 6.00% $10,808
MANN FINANCIAL INC. 2 7.88% $16,660
AMERICAN FINANCING CORPORATION 2 6.06% $11,826
CALCON MUTUAL MORTGAGE LLC 2 6.81% $19,548
Flagstar Bank, FSB 2 6.69% $11,276
LAKEVIEW LOAN SERVICING, LLC 2 5.94% $16,011
MORIA DEVELOPMENT, INC. 2 7.25% $18,138
Mr. Cooper ( Nationstar Mortgage ) 2 5.81% $14,193
Nations Lending Corporation 2 7.19% $15,762
UNION HOME MORTGAGE CORP. 2 6.56% $8,104
AmeriHome Mortgage Company, LLC 1 6.13% $15,701
MOVEMENT MORTGAGE, LLC 1 6.00% $11,431
U.S. Bank 1 6.75% $8,588
ALTITUDE FINANCIAL CORPORATION 1 7.13% $7,297
NETWORK CAPITAL FUNDING CORPORATION 1 6.13% $6,943
NEW DAY FINANCIAL, LLC 1 7.00% $3,691
Gateway First Bank 1 6.75% $13,873
CARDINAL FINANCIAL 1 6.75% $16,555
OCMBC, INC. 1 6.75% $22,729
Paramount Residential Mortgage Group, Inc. 1 7.13% $10,589
PENNYMAC LOAN SERVICES, LLC 1 5.63% $12,324
PHH Mortgage Corporation 1 5.63% $11,232
PLANET HOME LENDING, LLC 1 6.75% $4,025
BROKER SOLUTIONS, INC. 1 6.25% $15,908
Prosperity Home Mortgage, LLC 1 5.13% $20,749
Barrington Bank & Trust Company, N.A. 1 6.25% $7,320
ROYAL UNITED MORTGAGE LLC 1 6.50% $9,469
SUMMIT FUNDING, INC. 1 5.63% $20,006
SUN WEST MORTGAGE COMPANY, INC. 1 6.00% $7,529
Wallick & Volk, Inc. 1 5.00% $3,229
INTERNATIONAL CITY MORTGAGE, INC. 1 6.13% $8,705
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.38% $11,551
GUARANTEED RATE, INC. 1 7.50% $8,393
MASON MCDUFFIE MORTGAGE CORPORATION 1 6.75% $10,778

The top Show Low FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 25 FHA loans originated. Their average total fees are $12,361, which is $812 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Show Low FHA lenders (with over 10 loans originated) are NOVA FINANCIAL & INVESTMENT CORPORATION ($7,133), QUICKEN LOANS, LLC ($11,548), UNITED WHOLESALE MORTGAGE, LLC ($12,361), AMERICAN PACIFIC MORTGAGE CORPORATION ($17,644) and .

The lowest rate Show Low FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.12%), AMERICAN PACIFIC MORTGAGE CORPORATION (6.43%), NOVA FINANCIAL & INVESTMENT CORPORATION (6.49%), QUICKEN LOANS, LLC (6.52%) and .

Show Low FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Show Low (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 $269,675 (8.1%) $353,956 (3.3%) 0.00 616
2018-02-01 $271,717 (8.9%) $348,740 (1.5%) 0.00 591
2018-03-01 $269,900 (3.8%) $349,431 (-1.2%) 0.00 605
2018-04-01 $282,000 (8.5%) $358,428 (0.3%) 0.00 679
2018-05-01 $287,875 (8.6%) $366,186 (4.6%) 0.00 716
2018-06-01 $293,000 (9.7%) $378,420 (8.1%) 0.00 757
2018-07-01 $289,975 (7.4%) $370,141 (2.9%) 0.00 796
2018-08-01 $297,250 (10.1%) $374,458 (3.9%) 0.00 791
2018-09-01 $294,900 (9.2%) $376,212 (3.7%) 0.00 752
2018-10-01 $299,300 (8.8%) $380,757 (3.0%) 0.00 681
2018-11-01 $299,900 (11.5%) $376,259 (5.1%) 0.00 606
2018-12-01 $295,750 (9.8%) $372,762 (4.3%) 0.00 552
2019-01-01 $284,975 (5.7%) $371,861 (5.1%) 0.00 509
2019-02-01 $281,950 (3.8%) $371,845 (6.6%) 0.00 520
2019-03-01 $291,500 (8.0%) $378,439 (8.3%) 0.00 552
2019-04-01 $297,125 (5.4%) $377,658 (5.4%) 0.00 596
2019-05-01 $298,663 (3.8%) $374,997 (2.4%) 0.00 674
2019-06-01 $294,450 (0.5%) $370,138 (-2.2%) 0.00 735
2019-07-01 $279,769 (-3.5%) $353,063 (-4.6%) 0.00 749
2019-08-01 $283,692 (-4.6%) $357,512 (-4.5%) 0.00 711
2019-09-01 $289,771 (-1.7%) $363,628 (-3.3%) 0.00 650
2019-10-01 $293,824 (-1.8%) $369,200 (-3.0%) 0.00 594
2019-11-01 $289,900 (-3.3%) $372,962 (-0.9%) 0.00 525
2019-12-01 $286,950 (-3.0%) $370,030 (-0.7%) 0.00 474
2020-01-01 $283,925 (-0.4%) $355,560 (-4.4%) 0.00 422
2020-02-01 $289,000 (2.5%) $356,798 (-4.1%) 0.00 423
2020-03-01 $289,125 (-0.8%) $363,022 (-4.1%) 0.00 445
2020-04-01 $289,925 (-2.4%) $360,565 (-4.5%) 0.00 482
2020-05-01 $309,250 (3.5%) $369,291 (-1.5%) 0.00 467
2020-06-01 $328,119 (11.4%) $383,723 (3.7%) 0.00 421
2020-07-01 $346,900 (24.0%) $402,615 (14.0%) 0.00 357
2020-08-01 $324,900 (14.5%) $412,040 (15.3%) 0.00 292
2020-09-01 $325,000 (12.2%) $422,873 (16.3%) 0.00 262
2020-10-01 $325,000 (10.6%) $443,075 (20.0%) 0.00 228
2020-11-01 $325,250 (12.2%) $441,063 (18.3%) 0.00 206
2020-12-01 $331,250 (15.4%) $446,397 (20.6%) 0.00 175
2021-01-01 $355,000 (25.0%) $476,627 (34.1%) 0.00 155
2021-02-01 $377,225 (30.5%) $511,222 (43.3%) 0.00 127
2021-03-01 $391,150 (35.3%) $533,165 (46.9%) 0.00 132
2021-04-01 $384,325 (32.6%) $518,471 (43.8%) 0.00 161
2021-05-01 $400,000 (29.4%) $554,635 (50.2%) 0.00 172
2021-06-01 $421,898 (28.6%) $561,683 (46.4%) 0.00 210
2021-07-01 $399,900 (15.3%) $539,055 (33.9%) 0.00 250
2021-08-01 $397,000 (22.2%) $517,870 (25.7%) 0.00 247
2021-09-01 $449,375 (38.3%) $560,440 (32.5%) 0.00 243
2021-10-01 $460,000 (41.5%) $578,589 (30.6%) 0.00 200
2021-11-01 $447,950 (37.7%) $573,630 (30.1%) 0.00 178
2021-12-01 $447,200 (35.0%) $565,522 (26.7%) 0.00 169
2022-01-01 $459,000 (29.3%) $589,536 (23.7%) 0.00 147
2022-02-01 $479,450 (27.1%) $607,876 (18.9%) 0.00 152
2022-03-01 $484,950 (24.0%) $613,657 (15.1%) 0.00 162
2022-04-01 $496,500 (29.2%) $605,263 (16.7%) 0.00 211
2022-05-01 $499,651 (24.9%) $609,590 (9.9%) 0.00 274
2022-06-01 $498,722 (18.2%) $607,286 (8.1%) 0.00 372
2022-07-01 $474,900 (18.8%) $589,676 (9.4%) 0.00 438
2022-08-01 $468,225 (17.9%) $573,406 (10.7%) 0.00 422
2022-09-01 $457,000 (1.7%) $565,698 (0.9%) 0.00 394
2022-10-01 $465,000 (1.1%) $574,495 (-0.7%) 0.00 374
2022-11-01 $488,250 (9.0%) $582,127 (1.5%) 0.00 349
2022-12-01 $489,900 (9.6%) $591,204 (4.5%) 0.00 317
2023-01-01 $471,975 (2.8%) $564,792 (-4.2%) 0.00 299
2023-02-01 $499,000 (4.1%) $571,241 (-6.0%) 0.00 275
2023-03-01 $495,725 (2.2%) $567,031 (-7.6%) 0.00 284
2023-04-01 $485,000 (-2.3%) $568,936 (-6.0%) 0.00 360
2023-05-01 $491,342 (-1.7%) $578,902 (-5.0%) 0.00 433
2023-06-01 $489,450 (-1.9%) $583,892 (-3.9%) 0.00 472
2023-07-01 $499,000 (5.1%) $585,794 (-0.7%) 0.00 475
2023-08-01 $499,000 (6.6%) $581,107 (1.3%) 0.00 478
2023-09-01 $499,000 (9.2%) $572,910 (1.3%) 0.00 479
2023-10-01 $494,100 (6.3%) $566,745 (-1.4%) 0.00 472
2023-11-01 $495,000 (1.4%) $570,539 (-2.0%) 0.00 468
2023-12-01 $495,000 (1.0%) $569,741 (-3.6%) 0.00 416
2024-01-01 $497,000 (5.3%) $570,323 (1.0%) 0.00 316
2024-02-01 $500,000 (0.2%) $587,497 (2.9%) 0.00 336
2024-03-01 $499,900 (0.8%) $586,302 (3.4%) 0.00 412
2024-04-01 $499,000 (2.9%) $578,631 (1.7%) 0.00 542
2024-05-01 $498,925 (1.5%) $578,204 (-0.1%) 0.00 669
2024-06-01 $499,900 (2.1%) $590,640 (1.2%) 0.00 732
2024-07-01 $499,900 (0.2%) $600,009 (2.4%) 0.00 631
2024-08-01 $500,000 (0.2%) $634,225 (9.1%) 0.00 587
2024-09-01 $517,000 (3.6%) $655,336 (14.4%) 0.00 550
2024-10-01 $511,000 (3.4%) $652,811 (15.2%) 0.00 523
Show Low's median listing price for 2024-10-01 was $511,000, a difference of $16,900 (3.4%) versus the prior year and $-6,000 versus the prior month.

Show Low's median listing price comes in at 0% of the national average.

Show Low's average listing price for 2024-10-01 was $652,811, a difference of $86,066 (15.2%) versus the prior year and $-2,525 versus the prior month.

For the 2024-10-01 period, Show Low had 523 MLS listings, a difference of -27 listings (-5%) versus the prior month and 51 listings (11%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Show Low (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,890 sqft
2018-02-01 0 days 1,894 sqft
2018-03-01 0 days 1,849 sqft
2018-04-01 0 days 1,885 sqft
2018-05-01 0 days 1,919 sqft
2018-06-01 0 days 1,921 sqft
2018-07-01 0 days 1,919 sqft
2018-08-01 0 days 1,951 sqft
2018-09-01 0 days 1,937 sqft
2018-10-01 0 days 1,979 sqft
2018-11-01 0 days 1,997 sqft
2018-12-01 0 days 1,950 sqft
2019-01-01 0 days 1,864 sqft
2019-02-01 0 days 1,851 sqft
2019-03-01 0 days 1,880 sqft
2019-04-01 0 days 1,906 sqft
2019-05-01 0 days 1,885 sqft
2019-06-01 0 days 1,886 sqft
2019-07-01 0 days 1,834 sqft
2019-08-01 0 days 1,858 sqft
2019-09-01 0 days 1,865 sqft
2019-10-01 0 days 1,877 sqft
2019-11-01 0 days 1,890 sqft
2019-12-01 0 days 1,889 sqft
2020-01-01 0 days 1,859 sqft
2020-02-01 0 days 1,846 sqft
2020-03-01 0 days 1,828 sqft
2020-04-01 0 days 1,836 sqft
2020-05-01 0 days 1,850 sqft
2020-06-01 0 days 1,880 sqft
2020-07-01 0 days 1,993 sqft
2020-08-01 0 days 1,966 sqft
2020-09-01 0 days 2,008 sqft
2020-10-01 0 days 1,946 sqft
2020-11-01 0 days 1,911 sqft
2020-12-01 0 days 1,937 sqft
2021-01-01 0 days 1,955 sqft
2021-02-01 0 days 1,941 sqft
2021-03-01 0 days 1,998 sqft
2021-04-01 0 days 1,887 sqft
2021-05-01 0 days 1,865 sqft
2021-06-01 0 days 1,823 sqft
2021-07-01 0 days 1,852 sqft
2021-08-01 0 days 1,807 sqft
2021-09-01 0 days 1,920 sqft
2021-10-01 0 days 1,959 sqft
2021-11-01 0 days 1,922 sqft
2021-12-01 0 days 1,870 sqft
2022-01-01 0 days 1,834 sqft
2022-02-01 0 days 1,842 sqft
2022-03-01 0 days 1,898 sqft
2022-04-01 0 days 1,841 sqft
2022-05-01 0 days 1,870 sqft
2022-06-01 0 days 1,868 sqft
2022-07-01 0 days 1,820 sqft
2022-08-01 0 days 1,829 sqft
2022-09-01 0 days 1,812 sqft
2022-10-01 0 days 1,854 sqft
2022-11-01 0 days 1,886 sqft
2022-12-01 0 days 1,944 sqft
2023-01-01 0 days 1,883 sqft
2023-02-01 0 days 1,882 sqft
2023-03-01 0 days 1,854 sqft
2023-04-01 0 days 1,828 sqft
2023-05-01 0 days 1,828 sqft
2023-06-01 0 days 1,830 sqft
2023-07-01 0 days 1,830 sqft
2023-08-01 0 days 1,814 sqft
2023-09-01 0 days 1,821 sqft
2023-10-01 0 days 1,822 sqft
2023-11-01 0 days 1,825 sqft
2023-12-01 0 days 1,823 sqft
2024-01-01 0 days 1,844 sqft
2024-02-01 0 days 1,838 sqft
2024-03-01 0 days 1,836 sqft
2024-04-01 0 days 1,800 sqft
2024-05-01 0 days 1,790 sqft
2024-06-01 0 days 1,797 sqft
2024-07-01 0 days 1,801 sqft
2024-08-01 0 days 1,808 sqft
2024-09-01 0 days 1,830 sqft
2024-10-01 0 days 1,831 sqft
Show Low's median listing age (time on market) for 2024-10-01 was 0 days.

Show Low's median square footage for active listings during the 2024-10-01 period was 1,831 sqft. One year prior, the average listing was 1,822 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).