St. George FHA Loan Rates, Closing Costs & Stats

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 57 lenders originated 650 FHA loans during 2023. The total origination value was $224,050,000, with an average FHA loan value of $344,692.

    St. George FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in St. George averaged 6.86% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

    St. George's average FHA mortgage closing costs are $9,818.

    The average rate for the prior week (2024-04-05) was 6.79% and one month ago for the week of 2024-03-08, the average rate was 6.62%.

    The average rate one year ago was 6.36%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.86%.

    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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the St. George level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 80 6.19% $14,941
    GUILD MORTGAGE COMPANY 63 6.39% $18,310
    SUN AMERICAN MORTGAGE COMPANY 50 6.25% $15,052
    DHI MORTGAGE COMPANY, LTD. 47 6.07% $10,072
    QUICKEN LOANS, LLC 28 5.87% $15,395
    FIRST COLONY MORTGAGE CORPORATION 22 6.24% $17,463
    INTERCAP LENDING INC. 17 6.01% $16,465
    BROKER SOLUTIONS, INC. 14 6.21% $16,666
    MY MOVE MORTGAGE, LLC 12 6.35% $15,577
    BELEM SERVICING LLC 11 6.53% $13,493
    ACADEMY MORTGAGE CORPORATION 11 6.38% $16,805
    CITYWIDE HOME LOANS, LLC 7 6.52% $13,963
    BAY EQUITY LLC 6 6.29% $16,485
    SECURITYNATIONAL MORTGAGE COMPANY 6 6.42% $21,929
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 7.00% $14,150
    NEWREZ LLC 5 6.05% $13,417
    PENNYMAC LOAN SERVICES, LLC 5 6.03% $19,456
    CHERRY CREEK MORTGAGE, LLC 4 6.16% $3,867
    VILLAGE CAPITAL MORTGAGE 4 6.75% $9,273
    Flagstar Bank, FSB 4 6.37% $9,463
    Century Mortgage Company DBA Century Lending Company 4 6.69% $15,559
    Bank of Utah 4 6.75% $13,293
    CROSSCOUNTRY MORTGAGE, LLC 4 6.40% $15,663
    ON Q FINANCIAL, INC. 3 7.29% $13,905
    LOANDEPOT.COM, LLC 3 5.29% $19,256
    VERITAS FUNDING, LLC 3 6.21% $20,102
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.92% $22,054
    Paramount Residential Mortgage Group, Inc. 3 6.29% $16,006
    CARDINAL FINANCIAL 2 6.69% $11,665
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 6.25% $13,125
    CORNERSTONE HOME LENDING, INC. 2 6.38% $14,114
    Mr. Cooper ( Nationstar Mortgage ) 2 5.94% $19,931
    NATIONS RELIABLE LENDING, LLC 2 5.69% $17,372
    Plains Commerce Bank 2 6.00% $19,160
    AMERICAN FINANCING CORPORATION 2 6.06% $14,372
    Sierra Pacific Mortgage Company, Inc. 2 5.19% $15,959
    UNION HOME MORTGAGE CORP. 2 6.88% $16,198
    AMERICAN FINANCIAL NETWORK, INC. 2 7.50% $24,242
    Hometown Equity Mortgage, LLC 1 7.25% $32,998
    HOMESIDE FINANCIAL, LLC 1 6.75% $14,446
    GENEVA FINANCIAL, LLC 1 7.75% $22,041
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.63% $11,037
    PLANET HOME LENDING, LLC 1 5.50% $9,579
    CASTLE & COOKE MORTGAGE, LLC 1 6.50% $20,785
    RANLIFE, INC. 1 6.38% $21,822
    S1L, Inc. 1 6.63% $23,610
    SECURITY HOME MORTGAGE, LLC. 1 5.63% $15,276
    Zions Bank 1 7.50% $8,854
    Cache Valley Bank 1 6.75% $8,111
    FIRST COMMUNITY MORTGAGE, INC. 1 6.00% $24,136
    LOANPAL, LLC 1 6.13% $11,196
    MOUNTAIN AMERICA 1 6.13% $12,970
    SUN WEST MORTGAGE COMPANY, INC. 1 6.75% $11,337
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $13,960
    The Loan Store, Inc. 1 6.99% $11,475
    Network Funding, L.P. 1 6.13% $11,108
    LAND HOME FINANCIAL SERVICES, INC. 1 7.50% $18,326

    The top St. George FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 80 FHA loans originated. Their average total fees are $14,941, which is $3,368 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee St. George FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($10,072), BELEM SERVICING LLC ($13,493), UNITED WHOLESALE MORTGAGE, LLC ($14,941), SUN AMERICAN MORTGAGE COMPANY ($15,052) and QUICKEN LOANS, LLC ($15,395).

    The lowest rate St. George FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.87%), INTERCAP LENDING INC. (6.01%), DHI MORTGAGE COMPANY, LTD. (6.07%), UNITED WHOLESALE MORTGAGE, LLC (6.19%) and BROKER SOLUTIONS, INC. (6.21%).

    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
    ST. GEORGE, UT WASHINGTON 2023 $593,400 $759,650 $918,250 $1,141,150

    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 $364,950 (6.6%) $468,710 (0.7%) 0.00 1,049
    2018-02-01 $379,450 (8.5%) $538,718 (14.9%) 0.00 1,149
    2018-03-01 $379,900 (8.6%) $537,314 (16.3%) 0.00 1,142
    2018-04-01 $390,875 (11.7%) $561,402 (22.0%) 0.00 1,072
    2018-05-01 $396,250 (6.4%) $556,838 (7.0%) 0.00 1,053
    2018-06-01 $389,000 (4.6%) $541,935 (4.9%) 0.00 1,064
    2018-07-01 $381,942 (6.1%) $541,181 (6.3%) 0.00 1,098
    2018-08-01 $388,900 (6.8%) $478,965 (-6.5%) 0.00 1,119
    2018-09-01 $386,173 (5.8%) $495,232 (-3.5%) 0.00 1,198
    2018-10-01 $379,900 (6.9%) $484,825 (6.1%) 0.00 1,294
    2018-11-01 $377,561 (7.3%) $477,462 (4.6%) 0.00 1,326
    2018-12-01 $379,950 (4.5%) $479,560 (2.8%) 0.00 1,246
    2019-01-01 $379,950 (4.1%) $479,747 (2.4%) 0.00 1,210
    2019-02-01 $397,000 (4.6%) $493,515 (-8.4%) 0.00 1,367
    2019-03-01 $399,900 (5.3%) $499,486 (-7.0%) 0.00 1,410
    2019-04-01 $399,900 (2.3%) $495,762 (-11.7%) 0.00 1,380
    2019-05-01 $399,900 (0.9%) $501,703 (-9.9%) 0.00 1,261
    2019-06-01 $399,900 (2.8%) $502,227 (-7.3%) 0.00 1,236
    2019-07-01 $409,175 (7.1%) $2,166,063 (300.3%) 0.00 1,187
    2019-08-01 $406,664 (4.6%) $1,748,773 (265.1%) 0.00 1,217
    2019-09-01 $402,634 (4.3%) $1,049,189 (111.9%) 0.00 1,298
    2019-10-01 $400,197 (5.3%) $520,251 (7.3%) 0.00 1,338
    2019-11-01 $418,135 (10.8%) $527,888 (10.6%) 0.00 1,220
    2019-12-01 $427,500 (12.5%) $535,906 (11.8%) 0.00 1,174
    2020-01-01 $429,450 (13.0%) $538,565 (12.3%) 0.00 1,161
    2020-02-01 $429,900 (8.3%) $552,590 (12.0%) 0.00 1,234
    2020-03-01 $439,900 (10.0%) $569,943 (14.1%) 0.00 1,250
    2020-04-01 $444,400 (11.1%) $560,220 (13.0%) 0.00 1,340
    2020-05-01 $439,900 (10.0%) $568,815 (13.4%) 0.00 1,213
    2020-06-01 $444,920 (11.3%) $586,208 (16.7%) 0.00 974
    2020-07-01 $454,000 (11.0%) $603,191 (-72.2%) 0.00 819
    2020-08-01 $456,000 (12.1%) $641,269 (-63.3%) 0.00 667
    2020-09-01 $467,500 (16.1%) $678,244 (-35.4%) 0.00 605
    2020-10-01 $500,000 (24.9%) $758,599 (45.8%) 0.00 513
    2020-11-01 $529,900 (26.7%) $831,809 (57.6%) 0.00 460
    2020-12-01 $538,425 (26.0%) $828,405 (54.6%) 0.00 413
    2021-01-01 $549,250 (27.9%) $839,009 (55.8%) 0.00 312
    2021-02-01 $584,832 (36.0%) $846,219 (53.1%) 0.00 287
    2021-03-01 $612,450 (39.2%) $835,305 (46.6%) 0.00 259
    2021-04-01 $635,086 (42.9%) $840,053 (50.0%) 0.00 254
    2021-05-01 $650,000 (47.8%) $887,800 (56.1%) 0.00 318
    2021-06-01 $649,925 (46.1%) $1,270,947 (116.8%) 0.00 413
    2021-07-01 $645,000 (42.1%) $1,163,608 (92.9%) 0.00 524
    2021-08-01 $625,000 (37.1%) $1,102,629 (71.9%) 0.00 593
    2021-09-01 $630,875 (35.0%) $1,000,068 (47.5%) 0.00 680
    2021-10-01 $620,000 (24.0%) $990,752 (30.6%) 0.00 703
    2021-11-01 $634,500 (19.7%) $1,016,101 (22.2%) 0.00 618
    2021-12-01 $659,950 (22.6%) $1,100,818 (32.9%) 0.00 506
    2022-01-01 $725,000 (32.0%) $1,203,247 (43.4%) 0.00 409
    2022-02-01 $770,000 (31.7%) $1,276,826 (50.9%) 0.00 369
    2022-03-01 $788,000 (28.7%) $1,252,213 (49.9%) 0.00 431
    2022-04-01 $779,500 (22.7%) $986,129 (17.4%) 0.00 473
    2022-05-01 $765,725 (17.8%) $951,086 (7.1%) 0.00 676
    2022-06-01 $739,950 (13.9%) $901,399 (-29.1%) 0.00 866
    2022-07-01 $699,900 (8.5%) $848,270 (-27.1%) 0.00 1,101
    2022-08-01 $665,925 (6.6%) $799,705 (-27.5%) 0.00 1,247
    2022-09-01 $656,475 (4.1%) $788,189 (-21.2%) 0.00 1,293
    2022-10-01 $649,900 (4.8%) $778,238 (-21.5%) 0.00 1,375
    2022-11-01 $649,450 (2.4%) $776,142 (-23.6%) 0.00 1,379
    2022-12-01 $649,500 (-1.6%) $779,550 (-29.2%) 0.00 1,319
    2023-01-01 $629,950 (-13.1%) $770,741 (-35.9%) 0.00 1,231
    2023-02-01 $659,000 (-14.4%) $823,800 (-35.5%) 0.00 1,269
    2023-03-01 $679,729 (-13.7%) $863,229 (-31.1%) 0.00 1,304
    2023-04-01 $675,000 (-13.4%) $861,970 (-12.6%) 0.00 1,230
    2023-05-01 $682,500 (-10.9%) $885,256 (-6.9%) 0.00 1,142
    2023-06-01 $692,425 (-6.4%) $883,911 (-1.9%) 0.00 1,096
    2023-07-01 $675,000 (-3.6%) $854,619 (0.8%) 0.00 1,096
    2023-08-01 $664,950 (-0.2%) $833,927 (4.3%) 0.00 1,074
    2023-09-01 $659,000 (0.4%) $821,883 (4.3%) 0.00 1,183
    2023-10-01 $675,000 (3.9%) $843,645 (8.4%) 0.00 1,259
    2023-11-01 $664,000 (2.2%) $830,294 (7.0%) 0.00 1,224
    2023-12-01 $649,900 (0.1%) $828,988 (6.3%) 0.00 1,193
    2024-01-01 $654,225 (3.9%) $840,778 (9.1%) 0.00 1,138
    2024-02-01 $696,073 (5.6%) $919,231 (11.6%) 0.00 1,234
    2024-03-01 $699,900 (3.0%) $955,037 (10.6%) 0.00 1,290
    St. George's median listing price for 2024-03-01 was $699,900, a difference of $20,171 (3.0%) versus the prior year and $3,827 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 2024-03-01 was $955,037, a difference of $91,808 (10.6%) versus the prior year and $35,806 versus the prior month.

    For the 2024-03-01 period, St. George had 1,290 MLS listings, a difference of 56 listings (5%) versus the prior month and -14 listings (-1%) 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 2,241 sqft
    2018-02-01 0 days 2,281 sqft
    2018-03-01 0 days 2,258 sqft
    2018-04-01 0 days 2,292 sqft
    2018-05-01 0 days 2,293 sqft
    2018-06-01 0 days 2,249 sqft
    2018-07-01 0 days 2,223 sqft
    2018-08-01 0 days 2,239 sqft
    2018-09-01 0 days 2,246 sqft
    2018-10-01 0 days 2,205 sqft
    2018-11-01 0 days 2,179 sqft
    2018-12-01 0 days 2,184 sqft
    2019-01-01 0 days 2,174 sqft
    2019-02-01 0 days 2,191 sqft
    2019-03-01 0 days 2,247 sqft
    2019-04-01 0 days 2,238 sqft
    2019-05-01 0 days 2,240 sqft
    2019-06-01 0 days 2,200 sqft
    2019-07-01 0 days 2,186 sqft
    2019-08-01 0 days 2,180 sqft
    2019-09-01 0 days 2,173 sqft
    2019-10-01 0 days 2,191 sqft
    2019-11-01 0 days 2,268 sqft
    2019-12-01 0 days 2,293 sqft
    2020-01-01 0 days 2,271 sqft
    2020-02-01 0 days 2,255 sqft
    2020-03-01 0 days 2,305 sqft
    2020-04-01 0 days 2,309 sqft
    2020-05-01 0 days 2,300 sqft
    2020-06-01 0 days 2,304 sqft
    2020-07-01 0 days 2,319 sqft
    2020-08-01 0 days 2,330 sqft
    2020-09-01 0 days 2,353 sqft
    2020-10-01 0 days 2,466 sqft
    2020-11-01 0 days 2,502 sqft
    2020-12-01 0 days 2,500 sqft
    2021-01-01 0 days 2,569 sqft
    2021-02-01 0 days 2,536 sqft
    2021-03-01 0 days 2,459 sqft
    2021-04-01 0 days 2,499 sqft
    2021-05-01 0 days 2,574 sqft
    2021-06-01 0 days 2,525 sqft
    2021-07-01 0 days 2,389 sqft
    2021-08-01 0 days 2,294 sqft
    2021-09-01 0 days 2,320 sqft
    2021-10-01 0 days 2,323 sqft
    2021-11-01 0 days 2,335 sqft
    2021-12-01 0 days 2,458 sqft
    2022-01-01 0 days 2,568 sqft
    2022-02-01 0 days 2,570 sqft
    2022-03-01 0 days 2,555 sqft
    2022-04-01 0 days 2,498 sqft
    2022-05-01 0 days 2,444 sqft
    2022-06-01 0 days 2,353 sqft
    2022-07-01 0 days 2,291 sqft
    2022-08-01 0 days 2,222 sqft
    2022-09-01 0 days 2,218 sqft
    2022-10-01 0 days 2,173 sqft
    2022-11-01 0 days 2,178 sqft
    2022-12-01 0 days 2,174 sqft
    2023-01-01 0 days 2,154 sqft
    2023-02-01 0 days 2,222 sqft
    2023-03-01 0 days 2,263 sqft
    2023-04-01 0 days 2,270 sqft
    2023-05-01 0 days 2,340 sqft
    2023-06-01 0 days 2,350 sqft
    2023-07-01 0 days 2,270 sqft
    2023-08-01 0 days 2,262 sqft
    2023-09-01 0 days 2,271 sqft
    2023-10-01 0 days 2,318 sqft
    2023-11-01 0 days 2,290 sqft
    2023-12-01 0 days 2,267 sqft
    2024-01-01 0 days 2,255 sqft
    2024-02-01 0 days 2,338 sqft
    2024-03-01 0 days 2,349 sqft
    St. George's median listing age (time on market) for 2024-03-01 was 0 days.

    St. George's median square footage for active listings during the 2024-03-01 period was 2,349 sqft. One year prior, the average listing was 2,263 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).