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 61 lenders originated 269 FHA loans during 2022. The total origination value was $62,275,000, with an average FHA loan value of $231,506.

Show Low FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Show Low averaged 6.37% for the week of 2024-03-01, compared to the national average (all FHA variants) of 6.688% for the same period.

Show Low's average FHA mortgage closing costs are $7,642.

The average rate for the prior week (2024-02-23) was 6.46% and one month ago for the week of 2024-01-26, the average rate was 6.05%.

The average rate one year ago was 6.48%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.69%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 28 4.90% $9,852
QUICKEN LOANS, LLC 18 4.46% $11,616
Amerifirst Financial, Inc. 14 5.37% $10,485
AMERICAN PACIFIC MORTGAGE CORPORATION 12 4.63% $9,923
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 4.89% $12,756
LOANDEPOT.COM, LLC 7 5.89% $9,190
Wallick & Volk, Inc. 7 4.93% $9,392
GUILD MORTGAGE COMPANY 7 5.73% $12,676
CROSSCOUNTRY MORTGAGE, LLC 6 5.50% $10,973
NOVA FINANCIAL & INVESTMENT CORPORATION 6 5.98% $6,305
CALIBER HOME LOANS, INC. 6 3.63% $11,548
Hometown Lenders, Inc. 6 5.29% $7,894
HOME POINT FINANCIAL CORPORATION 6 3.89% $7,899
AMERICAN FINANCIAL RESOURCES, INC. 5 4.78% $10,409
NEWREZ LLC 4 4.13% $6,512
BROKER SOLUTIONS, INC. 4 4.59% $9,591
FREEDOM MORTGAGE CORPORATION 4 5.47% $10,643
MANN FINANCIAL INC. 4 4.78% $13,209
V.I.P. MORTGAGE, INC. 4 5.53% $14,218
Nations Lending Corporation 3 5.33% $14,270
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 5.42% $16,375
Carrington Mortgage Services, LLC 3 4.83% $14,282
MORIA DEVELOPMENT, INC. 3 4.54% $11,820
AMERISAVE MORTGAGE CORPORATION 2 5.13% $14,288
VILLAGE CAPITAL MORTGAGE 2 4.63% $11,552
CARDINAL FINANCIAL 2 4.00% $9,121
Mr. Cooper ( Nationstar Mortgage ) 2 3.88% $10,087
Flagstar Bank, FSB 2 3.50% $10,825
PENNYMAC LOAN SERVICES, LLC 2 3.94% $8,094
TOP FLITE FINANCIAL, INC. 2 4.94% $17,302
ACADEMY MORTGAGE CORPORATION 2 4.50% $9,925
CALCON MUTUAL MORTGAGE LLC 1 6.50% $17,884
OCMBC, INC. 1 4.25% $12,520
OPEN MORTGAGE, LLC 1 5.75% $13,829
Paramount Residential Mortgage Group, Inc. 1 5.75% $16,004
PHH Mortgage Corporation 1 5.25% $8,624
PLAZA HOME MORTGAGE, INC. 1 5.13% $11,606
BAY EQUITY LLC 1 4.25% $16,152
RANLIFE, INC. 1 3.99% $13,568
RELIANCE FIRST CAPITAL, LLC 1 3.25% $13,267
ROYAL UNITED MORTGAGE LLC 1 3.63% $9,997
SECURITYNATIONAL MORTGAGE COMPANY 1 3.88% $12,873
SOVEREIGN LENDING GROUP INCORPORATED 1 5.13% $11,593
SUN AMERICAN MORTGAGE COMPANY 1 3.75% $11,558
SUNSTREET MORTGAGE, LLC 1 4.75% $11,639
SUN WEST MORTGAGE COMPANY, INC. 1 3.38% $12,702
UNION HOME MORTGAGE CORP. 1 5.63% $15,277
Equity Prime Mortgage LLC 1 5.63% $15,936
DRAPER AND KRAMER MORTGAGE CORP. 1 3.25% $10,525
FIRST COLONY MORTGAGE CORPORATION 1 6.50% $12,054
GENEVA FINANCIAL, LLC 1 4.63% $10,136
GUARANTEED RATE, INC. 1 3.58% $8,864
CMG MORTGAGE, INC. 1 3.75% $6,784
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 4.88% $12,414
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 4.75% $10,373
LHM FINANCIAL CORPORATION 1 5.25% $11,597
AMERICAN FINANCING CORPORATION 1 2.50% $6,988
MOUNTAIN AMERICA 1 6.75% $11,125
MOVEMENT MORTGAGE, LLC 1 5.25% $9,457
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.13% $9,359
NATIONS DIRECT MORTGAGE, LLC 1 2.75% $11,571

The top Show Low FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 28 FHA loans originated. Their average total fees are $9,852, which is $1,764 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Show Low FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($9,852), AMERICAN PACIFIC MORTGAGE CORPORATION ($9,923), Amerifirst Financial, Inc. ($10,485), QUICKEN LOANS, LLC ($11,616) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($12,756).

The lowest rate Show Low FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.46%), AMERICAN PACIFIC MORTGAGE CORPORATION (4.63%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (4.89%), UNITED WHOLESALE MORTGAGE, LLC (4.90%) and Amerifirst Financial, Inc. (5.37%).

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
Show Low's median listing price for 2024-01-01 was $497,000, a difference of $25,025 (5.3%) versus the prior year and $2,000 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 2024-01-01 was $570,323, a difference of $5,531 (1.0%) versus the prior year and $582 versus the prior month.

For the 2024-01-01 period, Show Low had 316 MLS listings, a difference of -100 listings (-24%) versus the prior month and 17 listings (6%) 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
Show Low's median listing age (time on market) for 2024-01-01 was 0 days.

Show Low's median square footage for active listings during the 2024-01-01 period was 1,844 sqft. One year prior, the average listing was 1,883 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).