Sonora FHA Loan Rates, Closing Costs & Stats

Sonora, CA

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.

Sonora's 35 lenders originated 143 FHA loans during 2024. The total origination value was $46,695,000, with an average FHA loan value of $326,538.

Sonora FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Sonora averaged 0.25% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

Sonora's average FHA mortgage closing costs are $9,612.

The average rate for the prior week (2025-06-13) was 6.93% and one month ago for the week of 2025-05-16, the average rate was 6.89%.

The average rate one year ago was 6.95%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.18%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Sonora 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 Sonora level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 34 6.72% $13,332
UNITED WHOLESALE MORTGAGE, LLC 17 6.24% $12,287
QUICKEN LOANS, LLC 12 6.37% $13,429
CROSSCOUNTRY MORTGAGE, LLC 7 6.56% $15,158
BROKER SOLUTIONS, INC. 4 6.91% $13,998
The Loan Store, Inc. 4 6.09% $12,705
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.88% $4,024
Equity Prime Mortgage LLC 3 6.25% $15,005
LAKEVIEW LOAN SERVICING, LLC 3 6.38% $8,260
Sierra Pacific Mortgage Company, Inc. 3 6.00% $16,805
LOANDEPOT.COM, LLC 2 6.25% $13,350
AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.44% $18,302
Century Mortgage Company DBA Century Lending Company 2 6.06% $12,630
PENNYMAC LOAN SERVICES, LLC 2 5.94% $8,584
PLAZA HOME MORTGAGE, INC. 2 6.94% $12,648
INFINITY EQUITY GROUP, INC. 1 6.75% $17,104
CMG MORTGAGE, INC. 1 6.99% $11,001
AHL FUNDING 1 6.25% $11,947
LOANPAL, LLC 1 6.25% $10,486
MASON MCDUFFIE MORTGAGE CORPORATION 1 6.63% $14,412
MID AMERICA MORTGAGE, INC. 1 6.63% $20,150
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $16,825
NEWREZ LLC 1 6.63% $11,964
Paramount Residential Mortgage Group, Inc. 1 6.63% $11,898
AMERISAVE MORTGAGE CORPORATION 1 6.75% $10,946
AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $12,201
CHURCHILL MORTGAGE CORPORATION 1 5.75% $20,753
CASTLE & COOKE MORTGAGE, LLC 1 7.75% $8,947
SCENIC OAKS FUNDING, INC. 1 6.75% $13,629
SECURITYNATIONAL MORTGAGE COMPANY 1 5.63% $13,252
Barrington Bank & Trust Company, N.A. 1 6.63% $13,393
SUN WEST MORTGAGE COMPANY, INC. 1 6.75% $13,603
The Federal Savings Bank 1 5.25% $24,763
FREEDOM MORTGAGE CORPORATION 1 6.25% $11,139
GUARANTEED RATE, INC. 1 6.75% $11,146

The top Sonora FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 34 FHA loans originated. Their average total fees are $13,332, which is $1,044 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Sonora FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($12,287), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($13,332), QUICKEN LOANS, LLC ($13,429), .

The lowest rate Sonora FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.24%), QUICKEN LOANS, LLC (6.37%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.72%), .

Sonora FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
SONORA, CA TUOLUMNE 2022 $420,680 $538,650 $651,050 $809,150
SONORA, CA TUOLUMNE 2023 $472,030 $604,400 $730,525 $907,900

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).