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 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).