St. George FHA Loans

ST. GEORGE, UT

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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.

    St. George's 75 lenders originated 1,515 FHA loans during 2021. The total origination value was $432,735,000, with an average FHA loan value of $285,634.

    St. George FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in St. George averaged 5.37% 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 5.08% and one month ago for the week of 2022-04-15, the average rate was 4.97%.

    The average rate one year ago was 2.94%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.14%.

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

    St. George 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 St. George level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    SUN AMERICAN MORTGAGE COMPANY 100 2.93% $10,742
    GUILD MORTGAGE COMPANY 80 2.91% $11,329
    QUICKEN LOANS, LLC 48 2.52% $7,636
    FIRST COLONY MORTGAGE CORPORATION 43 2.88% $10,274
    BAY EQUITY LLC 34 3.01% $11,779
    ACADEMY MORTGAGE CORPORATION 28 3.03% $10,328
    CALIBER HOME LOANS, INC. 27 2.69% $7,587
    UNITED WHOLESALE MORTGAGE, LLC 27 2.65% $9,634
    FREEDOM MORTGAGE CORPORATION 26 2.64% $5,951
    LAKEVIEW LOAN SERVICING, LLC 24 2.90% $5,254
    BELEM SERVICING LLC 23 3.16% $9,718
    INTERCAP LENDING INC. 20 2.90% $10,252
    PENNYMAC LOAN SERVICES, LLC 17 2.88% $5,977
    VILLAGE CAPITAL & INVESTMENT LLC 16 2.68% $4,063
    BROKER SOLUTIONS, INC. 12 3.29% $10,887
    Mr. Cooper ( Nationstar Mortgage ) 12 3.10% $5,326
    CHERRY CREEK MORTGAGE, LLC 11 2.93% $4,927
    VERITAS FUNDING, LLC 11 2.65% $10,407
    Hometown Lenders, Inc. 9 3.38% $10,915
    SECURITYNATIONAL MORTGAGE COMPANY 9 2.75% $11,048
    NEWREZ LLC 7 3.05% $8,395
    CITYWIDE HOME LOANS, LLC 6 3.13% $11,696
    AMERICAN FINANCING CORPORATION 5 2.70% $7,920
    The Federal Savings Bank 5 2.68% $11,162
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 2.85% $10,123
    AMERICAN FINANCIAL NETWORK, INC. 5 3.60% $15,713
    RANLIFE, INC. 5 3.02% $8,467
    MOUNTAIN AMERICA 4 2.47% $9,388
    AMERICA FIRST 4 2.91% $10,309
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 2.91% $10,178
    HOME POINT FINANCIAL CORPORATION 4 2.81% $7,832
    MY MOVE MORTGAGE, LLC 4 3.19% $9,256
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 3.04% $9,936
    GOLDENWEST 3 2.75% $9,821
    MID AMERICA MORTGAGE, INC. 3 3.00% $3,975
    Carrington Mortgage Services, LLC 3 3.50% $5,808
    MOVEMENT MORTGAGE, LLC 3 3.08% $12,176
    EVERETT FINANCIAL, INC. 3 3.46% $8,005
    Bank of Utah 3 2.79% $11,339
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.25% $8,742
    Network Funding, L.P. 3 3.04% $13,387
    CROSSCOUNTRY MORTGAGE, LLC 2 3.31% $12,744
    GENEVA FINANCIAL, LLC 2 3.25% $11,548
    DIRECT MORTGAGE, CORP. 2 2.81% $13,015
    Gateway First Bank 2 3.31% $5,703
    MORIA DEVELOPMENT, INC. 2 3.00% $10,677
    Commerce Home Mortgage, Inc. 2 2.50% $11,877
    MOUNTAIN WEST FINANCIAL, INC. 2 3.44% $11,486
    CMG MORTGAGE, INC. 2 2.75% $8,031
    NBH Bank 2 3.00% $8,581
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 2.56% $7,293
    Paramount Residential Mortgage Group, Inc. 2 3.25% $8,125
    S1L, Inc. 2 3.31% $12,443
    SOVEREIGN LENDING GROUP INCORPORATED 2 2.75% $11,388
    STEARNS LENDING, LLC 2 2.87% $7,558
    SUN WEST MORTGAGE COMPANY, INC. 2 3.62% $9,411
    Cache Valley Bank 2 2.50% $7,708
    First Guaranty Mortgage Corporation 2 3.38% $8,396
    FINANCE OF AMERICA MORTGAGE LLC 2 2.94% $8,797
    PREMIA MORTGAGE, LLC 1 2.88% $7,245
    Hometown Equity Mortgage, LLC 1 4.25% $13,981
    GUARANTY HOME MORTGAGE CORPORATION 1 3.00% $7,469
    Glacier Bank 1 2.38% $10,074
    UNITED SECURITY FINANCIAL CORP 1 2.50% $5,539
    Mortgage Research Center, LLC 1 2.99% $9,826
    CANOPY MORTGAGE, LLC 1 2.99% $11,217
    AMERISAVE MORTGAGE CORPORATION 1 3.00% $9,348
    Nations Lending Corporation 1 3.75% $10,132
    SWBC MORTGAGE CORPORATION 1 2.50% $10,465
    EMBRACE HOME LOANS, INC. 1 3.25% $6,562
    Blue Ridge Bank 1 2.88% $8,005
    OCEANSIDE MORTGAGE COMPANY 1 3.99% $8,955
    PANORAMA MORTGAGE GROUP, LLC 1 2.50% $11,381
    CALCON MUTUAL MORTGAGE LLC 1 3.00% $15,629
    Century Mortgage Company DBA Century Lending Company 1 2.50% $10,201

    The top St. George FHA lender as defined by loan originations is SUN AMERICAN MORTGAGE COMPANY, with 100 FHA loans originated. Their average total fees are $10,742, which is $587 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee St. George FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($4,063), CHERRY CREEK MORTGAGE, LLC ($4,927), LAKEVIEW LOAN SERVICING, LLC ($5,254), Mr. Cooper ( Nationstar Mortgage ) ($5,326) and FREEDOM MORTGAGE CORPORATION ($5,951).

    The lowest rate St. George FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.52%), FREEDOM MORTGAGE CORPORATION (2.64%), UNITED WHOLESALE MORTGAGE, LLC (2.65%), VERITAS FUNDING, LLC (2.65%) and VILLAGE CAPITAL & INVESTMENT LLC (2.68%).

    St. George FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ST. GEORGE, UT WASHINGTON 2022 $481,850 $616,850 $745,650 $926,650

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - St. George (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 $367,400 (5.9%) $479,578 (0.0%) 0.00 1,253
    2018-02-01 $379,450 (8.5%) $502,811 (3.9%) 0.00 1,370
    2018-03-01 $379,900 (8.6%) $500,815 (4.0%) 0.00 1,373
    2018-04-01 $392,450 (9.0%) $523,428 (9.1%) 0.00 1,293
    2018-05-01 $399,450 (5.6%) $521,663 (6.7%) 0.00 1,242
    2018-06-01 $395,000 (4.7%) $506,474 (5.3%) 0.00 1,277
    2018-07-01 $389,900 (5.4%) $507,437 (6.7%) 0.00 1,287
    2018-08-01 $394,384 (6.6%) $493,235 (3.4%) 0.00 1,333
    2018-09-01 $384,900 (4.1%) $488,426 (2.9%) 0.00 1,450
    2018-10-01 $379,900 (5.7%) $471,673 (0.6%) 0.00 1,573
    2018-11-01 $377,000 (5.6%) $461,558 (-1.8%) 0.00 1,641
    2018-12-01 $379,900 (4.1%) $458,946 (-4.2%) 0.00 1,548
    2019-01-01 $381,234 (3.8%) $465,630 (-2.9%) 0.00 1,520
    2019-02-01 $394,450 (4.0%) $478,165 (-4.9%) 0.00 1,721
    2019-03-01 $399,628 (5.2%) $484,992 (-3.2%) 0.00 1,779
    2019-04-01 $399,628 (1.8%) $481,137 (-8.1%) 0.00 1,745
    2019-05-01 $400,173 (0.2%) $488,267 (-6.4%) 0.00 1,596
    2019-06-01 $409,777 (3.7%) $490,458 (-3.2%) 0.00 1,566
    2019-07-01 $415,500 (6.6%) $490,250 (-3.4%) 0.00 1,489
    2019-08-01 $411,329 (4.3%) $488,419 (-1.0%) 0.00 1,516
    2019-09-01 $401,329 (4.3%) $488,337 (0.0%) 0.00 1,569
    2019-10-01 $412,250 (8.5%) $498,725 (5.7%) 0.00 1,672
    2019-11-01 $420,900 (11.6%) $515,743 (11.7%) 0.00 1,539
    2019-12-01 $437,400 (15.1%) $524,180 (14.2%) 0.00 1,450
    2020-01-01 $434,900 (14.1%) $526,741 (13.1%) 0.00 1,440
    2020-02-01 $439,000 (11.3%) $539,606 (12.9%) 0.00 1,511
    2020-03-01 $445,450 (11.5%) $550,220 (13.5%) 0.00 1,528
    2020-04-01 $449,900 (12.6%) $543,839 (13.0%) 0.00 1,670
    2020-05-01 $449,900 (12.4%) $551,272 (12.9%) 0.00 1,499
    2020-06-01 $452,400 (10.4%) $559,123 (14.0%) 0.00 1,200
    2020-07-01 $460,445 (10.8%) $580,217 (18.4%) 0.00 967
    2020-08-01 $462,000 (12.3%) $598,971 (22.6%) 0.00 777
    2020-09-01 $479,900 (19.6%) $630,849 (29.2%) 0.00 735
    2020-10-01 $511,900 (24.2%) $683,444 (37.0%) 0.00 612
    2020-11-01 $536,950 (27.6%) $725,801 (40.7%) 0.00 535
    2020-12-01 $539,900 (23.4%) $741,284 (41.4%) 0.00 479
    2021-01-01 $550,000 (26.5%) $810,140 (53.8%) 0.00 362
    2021-02-01 $602,000 (37.1%) $857,710 (59.0%) 0.00 326
    2021-03-01 $607,450 (36.4%) $856,243 (55.6%) 0.00 296
    2021-04-01 $649,950 (44.5%) $883,576 (62.5%) 0.00 302
    2021-05-01 $650,000 (44.5%) $868,897 (57.6%) 0.00 373
    2021-06-01 $649,450 (43.6%) $1,157,097 (107.0%) 0.00 497
    2021-07-01 $649,950 (41.2%) $1,119,033 (92.9%) 0.00 608
    2021-08-01 $635,750 (37.6%) $1,050,020 (75.3%) 0.00 698
    2021-09-01 $637,950 (32.9%) $1,034,563 (64.0%) 0.00 832
    2021-10-01 $636,900 (24.4%) $1,022,692 (49.6%) 0.00 877
    2021-11-01 $644,389 (20.0%) $1,064,661 (46.7%) 0.00 753
    2021-12-01 $668,500 (23.8%) $1,153,546 (55.6%) 0.00 626
    2022-01-01 $725,000 (31.8%) $1,285,092 (58.6%) 0.00 491
    2022-02-01 $765,250 (27.1%) $1,338,360 (56.0%) 0.00 444
    2022-03-01 $800,000 (31.7%) $1,309,624 (53.0%) 0.00 527
    2022-04-01 $770,000 (18.5%) $962,776 (9.0%) 0.00 565
    St. George's median listing price for 2022-04-01 was $770,000, a difference of $120,050 (18.5%) versus the prior year and $-30,000 versus the prior month.

    St. George's median listing price comes in at 0% of the national average.

    St. George's average listing price for 2022-04-01 was $962,776, a difference of $79,200 (9.0%) versus the prior year and $-346,848 versus the prior month.

    For the 2022-04-01 period, St. George had 565 MLS listings, a difference of 38 listings (7%) versus the prior month and 263 listings (87%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - St. George (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,276 sqft
    2018-02-01 0 days 2,313 sqft
    2018-03-01 0 days 2,297 sqft
    2018-04-01 0 days 2,336 sqft
    2018-05-01 0 days 2,338 sqft
    2018-06-01 0 days 2,293 sqft
    2018-07-01 0 days 2,275 sqft
    2018-08-01 0 days 2,274 sqft
    2018-09-01 0 days 2,268 sqft
    2018-10-01 0 days 2,234 sqft
    2018-11-01 0 days 2,177 sqft
    2018-12-01 0 days 2,174 sqft
    2019-01-01 0 days 2,168 sqft
    2019-02-01 0 days 2,191 sqft
    2019-03-01 0 days 2,249 sqft
    2019-04-01 0 days 2,250 sqft
    2019-05-01 0 days 2,261 sqft
    2019-06-01 0 days 2,220 sqft
    2019-07-01 0 days 2,219 sqft
    2019-08-01 0 days 2,228 sqft
    2019-09-01 0 days 2,210 sqft
    2019-10-01 0 days 2,235 sqft
    2019-11-01 0 days 2,306 sqft
    2019-12-01 0 days 2,343 sqft
    2020-01-01 0 days 2,306 sqft
    2020-02-01 0 days 2,302 sqft
    2020-03-01 0 days 2,311 sqft
    2020-04-01 0 days 2,311 sqft
    2020-05-01 0 days 2,337 sqft
    2020-06-01 0 days 2,348 sqft
    2020-07-01 0 days 2,349 sqft
    2020-08-01 0 days 2,358 sqft
    2020-09-01 0 days 2,415 sqft
    2020-10-01 0 days 2,518 sqft
    2020-11-01 0 days 2,542 sqft
    2020-12-01 0 days 2,511 sqft
    2021-01-01 0 days 2,574 sqft
    2021-02-01 0 days 2,560 sqft
    2021-03-01 0 days 2,524 sqft
    2021-04-01 0 days 2,595 sqft
    2021-05-01 0 days 2,569 sqft
    2021-06-01 0 days 2,538 sqft
    2021-07-01 0 days 2,474 sqft
    2021-08-01 0 days 2,305 sqft
    2021-09-01 0 days 2,333 sqft
    2021-10-01 0 days 2,348 sqft
    2021-11-01 0 days 2,422 sqft
    2021-12-01 0 days 2,513 sqft
    2022-01-01 0 days 2,601 sqft
    2022-02-01 0 days 2,584 sqft
    2022-03-01 0 days 2,581 sqft
    2022-04-01 0 days 2,488 sqft
    St. George's median listing age (time on market) for 2022-04-01 was 0 days.

    St. George's median square footage for active listings during the 2022-04-01 period was 2,488 sqft. One year prior, the average listing was 2,595 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).