Sierra Vista FHA Loans
SIERRA VISTA-DOUGLAS, 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.
Sierra Vista's 68 lenders originated 602 FHA loans during 2021. The total origination value was $101,310,000, with an average FHA loan value of $168,289.
Sierra Vista FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Sierra Vista
averaged
5.2%
for the week of 2022-05-20, compared to the national average (all FHA variants) of
5.352% for the same period.
The average rate for the prior week (2022-05-13) was
5.11% and
one month ago for the week of 2022-04-15, the
average rate was 4.9%.
The average rate one year ago was 3.17%.
For refis of the same type during the week of 2022-05-20, the average rate
was 4.78%.
Sierra Vista FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Sierra Vista level.
The top Sierra Vista FHA lender as defined by loan originations is NOVA FINANCIAL & INVESTMENT CORPORATION, with
135 FHA loans originated. Their average total fees are
$5,452, which is $1,431
lower than the next largest lender,
GUILD MORTGAGE COMPANY.
The lowest fee Sierra Vista FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($1,476), NEWREZ LLC ($3,462), PENNYMAC LOAN SERVICES, LLC ($4,071), ALTITUDE FINANCIAL CORPORATION ($4,823) and NOVA FINANCIAL & INVESTMENT CORPORATION ($5,452).
The lowest rate Sierra Vista FHA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (2.73%), QUICKEN LOANS, LLC (2.74%), VILLAGE CAPITAL & INVESTMENT LLC (2.99%), NEWREZ LLC (3.01%) and PENNYMAC LOAN SERVICES, LLC (3.05%).
Sierra Vista FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
SIERRA VISTA-DOUGLAS, AZ | COCHISE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Sierra Vista (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $172,305 (7.8%) | $222,234 (-4.9%) | 0.00 | 839 |
2018-02-01 | $175,000 (9.4%) | $225,030 (-5.7%) | 0.00 | 821 |
2018-03-01 | $174,000 (9.1%) | $224,249 (-3.6%) | 0.00 | 787 |
2018-04-01 | $179,700 (9.2%) | $232,036 (0.4%) | 0.00 | 725 |
2018-05-01 | $185,000 (11.8%) | $244,592 (3.5%) | 0.00 | 721 |
2018-06-01 | $190,000 (11.8%) | $245,508 (3.2%) | 0.00 | 750 |
2018-07-01 | $198,500 (16.8%) | $249,884 (4.4%) | 0.00 | 737 |
2018-08-01 | $190,000 (12.1%) | $250,300 (6.3%) | 0.00 | 730 |
2018-09-01 | $187,500 (7.8%) | $253,042 (6.4%) | 0.00 | 733 |
2018-10-01 | $186,750 (9.9%) | $251,302 (7.5%) | 0.00 | 711 |
2018-11-01 | $190,000 (12.4%) | $248,527 (11.5%) | 0.00 | 717 |
2018-12-01 | $189,900 (12.4%) | $247,329 (12.2%) | 0.00 | 691 |
2019-01-01 | $194,950 (13.1%) | $241,544 (8.7%) | 0.00 | 664 |
2019-02-01 | $191,250 (9.3%) | $240,871 (7.0%) | 0.00 | 652 |
2019-03-01 | $193,857 (11.4%) | $250,560 (11.7%) | 0.00 | 620 |
2019-04-01 | $198,357 (10.4%) | $258,872 (11.6%) | 0.00 | 585 |
2019-05-01 | $197,750 (6.9%) | $256,021 (4.7%) | 0.00 | 563 |
2019-06-01 | $197,500 (4.0%) | $250,490 (2.0%) | 0.00 | 604 |
2019-07-01 | $198,950 (0.2%) | $250,166 (0.1%) | 0.00 | 628 |
2019-08-01 | $201,514 (6.1%) | $252,221 (0.8%) | 0.00 | 637 |
2019-09-01 | $204,564 (9.1%) | $255,903 (1.1%) | 0.00 | 625 |
2019-10-01 | $202,500 (8.4%) | $253,926 (1.0%) | 0.00 | 610 |
2019-11-01 | $211,027 (11.1%) | $262,547 (5.6%) | 0.00 | 582 |
2019-12-01 | $211,964 (11.6%) | $267,676 (8.2%) | 0.00 | 563 |
2020-01-01 | $210,000 (7.7%) | $271,510 (12.4%) | 0.00 | 542 |
2020-02-01 | $210,000 (9.8%) | $274,796 (14.1%) | 0.00 | 506 |
2020-03-01 | $207,450 (7.0%) | $275,583 (10.0%) | 0.00 | 492 |
2020-04-01 | $212,500 (7.1%) | $267,020 (3.2%) | 0.00 | 373 |
2020-05-01 | $215,000 (8.7%) | $279,849 (9.3%) | 0.00 | 377 |
2020-06-01 | $217,450 (10.1%) | $286,397 (14.3%) | 0.00 | 353 |
2020-07-01 | $217,500 (9.3%) | $290,370 (16.1%) | 0.00 | 329 |
2020-08-01 | $230,000 (14.1%) | $303,811 (20.5%) | 0.00 | 294 |
2020-09-01 | $227,500 (11.2%) | $314,130 (22.8%) | 0.00 | 270 |
2020-10-01 | $225,000 (11.1%) | $319,677 (25.9%) | 0.00 | 268 |
2020-11-01 | $225,000 (6.6%) | $323,674 (23.3%) | 0.00 | 253 |
2020-12-01 | $219,950 (3.8%) | $316,674 (18.3%) | 0.00 | 265 |
2021-01-01 | $225,000 (7.1%) | $314,388 (15.8%) | 0.00 | 255 |
2021-02-01 | $239,000 (13.8%) | $348,622 (26.9%) | 0.00 | 229 |
2021-03-01 | $247,500 (19.3%) | $367,159 (33.2%) | 0.00 | 230 |
2021-04-01 | $264,950 (24.7%) | $388,256 (45.4%) | 0.00 | 215 |
2021-05-01 | $255,000 (18.6%) | $393,060 (40.5%) | 0.00 | 230 |
2021-06-01 | $265,750 (22.2%) | $405,067 (41.4%) | 0.00 | 267 |
2021-07-01 | $280,500 (29.0%) | $410,164 (41.3%) | 0.00 | 282 |
2021-08-01 | $287,500 (25.0%) | $423,490 (39.4%) | 0.00 | 256 |
2021-09-01 | $312,000 (37.1%) | $439,860 (40.0%) | 0.00 | 270 |
2021-10-01 | $320,000 (42.2%) | $431,873 (35.1%) | 0.00 | 273 |
2021-11-01 | $299,450 (33.1%) | $431,820 (33.4%) | 0.00 | 275 |
2021-12-01 | $296,250 (34.7%) | $434,864 (37.3%) | 0.00 | 234 |
2022-01-01 | $287,000 (27.6%) | $448,643 (42.7%) | 0.00 | 193 |
2022-02-01 | $304,950 (27.6%) | $452,853 (29.9%) | 0.00 | 185 |
2022-03-01 | $287,450 (16.1%) | $437,922 (19.3%) | 0.00 | 184 |
2022-04-01 | $299,500 (13.0%) | $448,453 (15.5%) | 0.00 | 208 |
Sierra Vista's median listing price comes in at 0% of the national average.
Sierra Vista's average listing price for 2022-04-01 was $448,453, a difference of $60,197 (15.5%) versus the prior year and $10,531 versus the prior month.
For the 2022-04-01 period, Sierra Vista had 208 MLS listings, a difference of 24 listings (13%) versus the prior month and -7 listings (-3%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Sierra Vista (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,801 sqft |
2018-02-01 | 0 days | 1,814 sqft |
2018-03-01 | 0 days | 1,808 sqft |
2018-04-01 | 0 days | 1,813 sqft |
2018-05-01 | 0 days | 1,815 sqft |
2018-06-01 | 0 days | 1,851 sqft |
2018-07-01 | 0 days | 1,883 sqft |
2018-08-01 | 0 days | 1,868 sqft |
2018-09-01 | 0 days | 1,851 sqft |
2018-10-01 | 0 days | 1,830 sqft |
2018-11-01 | 0 days | 1,826 sqft |
2018-12-01 | 0 days | 1,830 sqft |
2019-01-01 | 0 days | 1,816 sqft |
2019-02-01 | 0 days | 1,816 sqft |
2019-03-01 | 0 days | 1,824 sqft |
2019-04-01 | 0 days | 1,818 sqft |
2019-05-01 | 0 days | 1,797 sqft |
2019-06-01 | 0 days | 1,794 sqft |
2019-07-01 | 0 days | 1,789 sqft |
2019-08-01 | 0 days | 1,785 sqft |
2019-09-01 | 0 days | 1,785 sqft |
2019-10-01 | 0 days | 1,762 sqft |
2019-11-01 | 0 days | 1,785 sqft |
2019-12-01 | 0 days | 1,815 sqft |
2020-01-01 | 0 days | 1,813 sqft |
2020-02-01 | 0 days | 1,804 sqft |
2020-03-01 | 0 days | 1,830 sqft |
2020-04-01 | 0 days | 1,811 sqft |
2020-05-01 | 0 days | 1,794 sqft |
2020-06-01 | 0 days | 1,799 sqft |
2020-07-01 | 0 days | 1,845 sqft |
2020-08-01 | 0 days | 1,870 sqft |
2020-09-01 | 0 days | 1,855 sqft |
2020-10-01 | 0 days | 1,859 sqft |
2020-11-01 | 0 days | 1,845 sqft |
2020-12-01 | 0 days | 1,865 sqft |
2021-01-01 | 0 days | 1,881 sqft |
2021-02-01 | 0 days | 1,865 sqft |
2021-03-01 | 0 days | 1,881 sqft |
2021-04-01 | 0 days | 1,931 sqft |
2021-05-01 | 0 days | 1,867 sqft |
2021-06-01 | 0 days | 1,848 sqft |
2021-07-01 | 0 days | 1,886 sqft |
2021-08-01 | 0 days | 1,860 sqft |
2021-09-01 | 0 days | 1,923 sqft |
2021-10-01 | 0 days | 1,950 sqft |
2021-11-01 | 0 days | 1,935 sqft |
2021-12-01 | 0 days | 1,952 sqft |
2022-01-01 | 0 days | 1,999 sqft |
2022-02-01 | 0 days | 1,953 sqft |
2022-03-01 | 0 days | 1,890 sqft |
2022-04-01 | 0 days | 1,846 sqft |
Sierra Vista's median square footage for active listings during the 2022-04-01 period was 1,846 sqft. One year prior, the average listing was 1,931 sqft.