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 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 7.36% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.95% and one month ago for the week of 2024-03-15, the average rate was 7.12%.

    The average rate one year ago was 6.75%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.04%.

    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
    Show Low's median listing price for 2024-03-01 was $499,900, a difference of $4,175 (0.8%) versus the prior year and $-100 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 2024-03-01 was $586,302, a difference of $19,271 (3.4%) versus the prior year and $-1,195 versus the prior month.

    For the 2024-03-01 period, Show Low had 412 MLS listings, a difference of 76 listings (23%) versus the prior month and 128 listings (45%) 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
    Show Low's median listing age (time on market) for 2024-03-01 was 0 days.

    Show Low's median square footage for active listings during the 2024-03-01 period was 1,836 sqft. One year prior, the average listing was 1,854 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).