Show Low FHA Loan Rates, Closing Costs & Stats

Show Low, AZ

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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.

    Show Low's 66 lenders originated 356 FHA loans during 2021. The total origination value was $69,900,000, with an average FHA loan value of $196,348.

    Show Low FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Show Low averaged 6.43% for the week of 2023-01-27, compared to the national average (all FHA variants) of 6.186% for the same period.

    Show Low's average FHA mortgage closing costs are $7,027.

    The average rate for the prior week (2023-01-20) was 6.2% and one month ago for the week of 2022-12-23, the average rate was 6.29%.

    The average rate one year ago was 3.78%.

    For refis of the same type during the week of 2023-01-27, the average rate was 5.68%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    QUICKEN LOANS, LLC 31 2.63% $6,609
    Amerifirst Financial, Inc. 22 3.41% $7,182
    GUILD MORTGAGE COMPANY 19 3.16% $9,315
    Wallick & Volk, Inc. 16 3.67% $6,470
    LAKEVIEW LOAN SERVICING, LLC 14 3.10% $3,696
    CALIBER HOME LOANS, INC. 11 2.72% $9,237
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 3.40% $9,989
    AMERICAN PACIFIC MORTGAGE CORPORATION 10 3.24% $8,884
    GUARANTEED RATE, INC. 10 3.10% $7,629
    UNITED WHOLESALE MORTGAGE, LLC 8 2.64% $8,404
    MANN FINANCIAL INC. 7 3.34% $11,057
    NEWREZ LLC 7 3.02% $3,590
    NOVA FINANCIAL & INVESTMENT CORPORATION 7 3.25% $8,467
    LOANDEPOT.COM, LLC 7 3.69% $8,552
    FREEDOM MORTGAGE CORPORATION 6 3.12% $4,729
    Hometown Lenders, Inc. 6 3.44% $7,254
    PENNYMAC LOAN SERVICES, LLC 5 3.23% $5,993
    VILLAGE CAPITAL MORTGAGE 5 2.90% $1,906
    Mr. Cooper ( Nationstar Mortgage ) 5 3.65% $3,178
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 2.91% $4,067
    AMERISAVE MORTGAGE CORPORATION 4 3.22% $8,905
    Paramount Residential Mortgage Group, Inc. 4 3.44% $7,707
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.75% $9,047
    MID AMERICA MORTGAGE, INC. 3 3.00% $4,629
    BROKER SOLUTIONS, INC. 3 2.71% $7,863
    AMERICAN FINANCIAL RESOURCES, INC. 3 3.04% $5,293
    AMERICAN FINANCIAL NETWORK, INC. 3 3.25% $9,895
    HOME POINT FINANCIAL CORPORATION 3 3.21% $6,675
    Lakeview Community Capital, LLC 2 2.81% $3,596
    V.I.P. MORTGAGE, INC. 2 3.44% $10,719
    HOMESIDE FINANCIAL, LLC 2 3.00% $9,193
    STARBOARD FINANCIAL MANAGEMENT, LLC 2 3.44% $6,879
    ON Q FINANCIAL, INC. 2 3.06% $5,894
    Nations Lending Corporation 2 3.25% $10,839
    Waterstone Mortgage Corporation 1 4.63% $5,290
    ALTITUDE FINANCIAL CORPORATION 1 3.00% $8,508
    AMERICAN FINANCING CORPORATION 1 3.75% $7,410
    AmeriHome Mortgage Company, LLC 1 2.63% $4,634
    ARC HOME LLC 1 2.99% $4,900
    BAY EQUITY LLC 1 3.25% $9,592
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.50% $11,427
    CELEBRITY HOME LOANS, LLC 1 2.50% $12,257
    CMG MORTGAGE, INC. 1 2.75% $7,627
    Commerce Home Mortgage, Inc. 1 3.13% $4,509
    Equity Prime Mortgage LLC 1 3.75% $7,164
    FBC MORTGAGE, LLC 1 3.13% $6,847
    FINANCE OF AMERICA MORTGAGE LLC 1 3.25% $9,211
    Flagstar Bank, FSB 1 2.75% $7,044
    Gateway First Bank 1 4.75% $4,445
    LHM FINANCIAL CORPORATION 1 3.13% $7,796
    LOANPAL, LLC 1 2.88% $8,648
    MOUNTAIN WEST FINANCIAL, INC. 1 4.00% $9,828
    MOVEMENT MORTGAGE, LLC 1 3.50% $7,652
    NASA Federal Credit Union 1 2.88% $6,600
    Neighborhood Loans, Inc. 1 2.50% $8,552
    OCEANSIDE MORTGAGE COMPANY 1 2.99% $1,539
    PHH Mortgage Corporation 1 3.13% $4,189
    PLANET HOME LENDING, LLC 1 2.75% $2,383
    Sierra Pacific Mortgage Company, Inc. 1 2.50% $9,715
    SOVEREIGN LENDING GROUP INCORPORATED 1 2.25% $6,644
    SUMMIT FUNDING, INC. 1 2.88% $5,577
    SUNSTREET MORTGAGE, LLC 1 2.38% $8,034
    SUN WEST MORTGAGE COMPANY, INC. 1 3.75% $4,282
    TOWNE MORTGAGE COMPANY 1 3.63% $5,862
    Umpqua Bank 1 3.00% $9,989
    ACADEMY MORTGAGE CORPORATION 1 2.75% $7,653

    The top Show Low FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 31 FHA loans originated. Their average total fees are $6,609, which is $573 lower than the next largest lender, Amerifirst Financial, Inc..

    The lowest fee Show Low FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($3,696), Wallick & Volk, Inc. ($6,470), QUICKEN LOANS, LLC ($6,609), Amerifirst Financial, Inc. ($7,182) and GUARANTEED RATE, INC. ($7,629).

    The lowest rate Show Low FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.63%), CALIBER HOME LOANS, INC. (2.72%), LAKEVIEW LOAN SERVICING, LLC (3.10%), GUARANTEED RATE, INC. (3.10%) and GUILD MORTGAGE COMPANY (3.16%).

    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

    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 (8.0%) $353,956 (2.6%) 0.00 616
    2018-02-01 $271,717 (8.9%) $348,740 (0.5%) 0.00 591
    2018-03-01 $269,900 (3.6%) $348,949 (-2.3%) 0.00 606
    2018-04-01 $281,475 (8.3%) $357,976 (-0.8%) 0.00 680
    2018-05-01 $287,625 (8.5%) $365,508 (3.7%) 0.00 718
    2018-06-01 $291,500 (9.1%) $377,548 (7.0%) 0.00 759
    2018-07-01 $289,925 (7.4%) $369,732 (2.0%) 0.00 797
    2018-08-01 $296,750 (9.9%) $374,045 (3.4%) 0.00 792
    2018-09-01 $293,000 (8.5%) $375,768 (3.6%) 0.00 753
    2018-10-01 $299,225 (8.8%) $380,275 (2.9%) 0.00 682
    2018-11-01 $299,900 (11.5%) $375,720 (4.9%) 0.00 607
    2018-12-01 $295,500 (9.7%) $372,163 (4.1%) 0.00 553
    2019-01-01 $283,750 (5.2%) $371,212 (4.9%) 0.00 510
    2019-02-01 $280,720 (3.3%) $371,209 (6.4%) 0.00 521
    2019-03-01 $290,786 (7.7%) $377,644 (8.2%) 0.00 554
    2019-04-01 $296,411 (5.3%) $376,717 (5.2%) 0.00 598
    2019-05-01 $298,613 (3.8%) $374,396 (2.4%) 0.00 677
    2019-06-01 $294,450 (1.0%) $370,261 (-1.9%) 0.00 737
    2019-07-01 $279,769 (-3.5%) $353,228 (-4.5%) 0.00 751
    2019-08-01 $283,692 (-4.4%) $357,674 (-4.4%) 0.00 713
    2019-09-01 $289,771 (-1.1%) $363,788 (-3.2%) 0.00 652
    2019-10-01 $293,824 (-1.8%) $369,357 (-2.9%) 0.00 596
    2019-11-01 $289,900 (-3.3%) $373,134 (-0.7%) 0.00 527
    2019-12-01 $286,950 (-2.9%) $370,222 (-0.5%) 0.00 476
    2020-01-01 $283,925 (0.1%) $355,845 (-4.1%) 0.00 424
    2020-02-01 $289,000 (3.0%) $357,079 (-3.8%) 0.00 426
    2020-03-01 $289,250 (-0.5%) $363,756 (-3.7%) 0.00 448
    2020-04-01 $289,925 (-2.2%) $361,072 (-4.2%) 0.00 486
    2020-05-01 $309,250 (3.6%) $369,727 (-1.3%) 0.00 471
    2020-06-01 $328,119 (11.4%) $384,060 (3.7%) 0.00 425
    2020-07-01 $346,900 (24.0%) $402,814 (14.0%) 0.00 361
    2020-08-01 $324,900 (14.5%) $412,088 (15.2%) 0.00 296
    2020-09-01 $325,000 (12.2%) $423,756 (16.5%) 0.00 265
    2020-10-01 $325,000 (10.6%) $443,840 (20.2%) 0.00 231
    2020-11-01 $328,000 (13.1%) $441,938 (18.4%) 0.00 209
    2020-12-01 $333,750 (16.3%) $447,386 (20.8%) 0.00 178
    2021-01-01 $357,000 (25.7%) $477,177 (34.1%) 0.00 158
    2021-02-01 $377,950 (30.8%) $511,184 (43.2%) 0.00 130
    2021-03-01 $393,675 (36.1%) $532,707 (46.5%) 0.00 135
    2021-04-01 $385,725 (33.0%) $518,332 (43.6%) 0.00 164
    2021-05-01 $406,000 (31.3%) $553,973 (49.8%) 0.00 175
    2021-06-01 $425,324 (29.6%) $561,059 (46.1%) 0.00 213
    2021-07-01 $399,900 (15.3%) $538,717 (33.7%) 0.00 253
    2021-08-01 $397,000 (22.2%) $517,785 (25.7%) 0.00 250
    2021-09-01 $449,500 (38.3%) $559,888 (32.1%) 0.00 246
    2021-10-01 $460,000 (41.5%) $577,705 (30.2%) 0.00 203
    2021-11-01 $449,000 (36.9%) $572,702 (29.6%) 0.00 181
    2021-12-01 $449,475 (34.7%) $564,646 (26.2%) 0.00 172
    2022-01-01 $475,000 (33.1%) $588,065 (23.2%) 0.00 150
    2022-02-01 $480,700 (27.2%) $606,157 (18.6%) 0.00 155
    2022-03-01 $484,950 (23.2%) $611,951 (14.9%) 0.00 165
    2022-04-01 $498,000 (29.1%) $604,082 (16.5%) 0.00 214
    2022-05-01 $499,950 (23.1%) $608,568 (9.9%) 0.00 277
    2022-06-01 $498,759 (17.3%) $606,516 (8.1%) 0.00 375
    2022-07-01 $474,950 (18.8%) $589,167 (9.4%) 0.00 441
    2022-08-01 $469,450 (18.3%) $572,975 (10.7%) 0.00 425
    2022-09-01 $457,000 (1.7%) $565,311 (1.0%) 0.00 397
    2022-10-01 $467,000 (1.5%) $574,005 (-0.6%) 0.00 377
    2022-11-01 $491,500 (9.5%) $581,551 (1.6%) 0.00 352
    2022-12-01 $494,425 (10.0%) $590,460 (4.6%) 0.00 320
    Show Low's median listing price for 2022-12-01 was $494,425, a difference of $44,950 (10.0%) versus the prior year and $2,925 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 2022-12-01 was $590,460, a difference of $25,814 (4.6%) versus the prior year and $8,909 versus the prior month.

    For the 2022-12-01 period, Show Low had 320 MLS listings, a difference of -32 listings (-9%) versus the prior month and 148 listings (86%) 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 1,848 sqft
    2018-04-01 0 days 1,882 sqft
    2018-05-01 0 days 1,918 sqft
    2018-06-01 0 days 1,921 sqft
    2018-07-01 0 days 1,918 sqft
    2018-08-01 0 days 1,950 sqft
    2018-09-01 0 days 1,932 sqft
    2018-10-01 0 days 1,976 sqft
    2018-11-01 0 days 1,997 sqft
    2018-12-01 0 days 1,949 sqft
    2019-01-01 0 days 1,861 sqft
    2019-02-01 0 days 1,847 sqft
    2019-03-01 0 days 1,878 sqft
    2019-04-01 0 days 1,904 sqft
    2019-05-01 0 days 1,880 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 1,829 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 2,012 sqft
    2020-10-01 0 days 1,955 sqft
    2020-11-01 0 days 1,924 sqft
    2020-12-01 0 days 1,937 sqft
    2021-01-01 0 days 1,960 sqft
    2021-02-01 0 days 1,942 sqft
    2021-03-01 0 days 1,998 sqft
    2021-04-01 0 days 1,890 sqft
    2021-05-01 0 days 1,865 sqft
    2021-06-01 0 days 1,829 sqft
    2021-07-01 0 days 1,856 sqft
    2021-08-01 0 days 1,808 sqft
    2021-09-01 0 days 1,921 sqft
    2021-10-01 0 days 1,963 sqft
    2021-11-01 0 days 1,924 sqft
    2021-12-01 0 days 1,875 sqft
    2022-01-01 0 days 1,847 sqft
    2022-02-01 0 days 1,843 sqft
    2022-03-01 0 days 1,911 sqft
    2022-04-01 0 days 1,841 sqft
    2022-05-01 0 days 1,875 sqft
    2022-06-01 0 days 1,874 sqft
    2022-07-01 0 days 1,822 sqft
    2022-08-01 0 days 1,829 sqft
    2022-09-01 0 days 1,813 sqft
    2022-10-01 0 days 1,854 sqft
    2022-11-01 0 days 1,897 sqft
    2022-12-01 0 days 1,945 sqft
    Show Low's median listing age (time on market) for 2022-12-01 was 0 days.

    Show Low's median square footage for active listings during the 2022-12-01 period was 1,945 sqft. One year prior, the average listing was 1,875 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).