Tacoma FHA Loans

TACOMA-LAKEWOOD, WA

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.

Tacoma's 178 lenders originated 5,889 FHA loans during 2021. The total origination value was $2,351,335,000, with an average FHA loan value of $399,276.

Tacoma FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Tacoma averaged 4.78% for the week of 2022-03-25, compared to the national average (all FHA variants) of 4.648% for the same period.

The average rate for the prior week (2022-03-18) was 4.59% and one month ago for the week of 2022-02-18, the average rate was 4.12%.

The average rate one year ago was 3.16%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.2%.

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

Tacoma 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 Tacoma level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 626 3.38% $13,102
CALIBER HOME LOANS, INC. 377 3.02% $12,049
GUILD MORTGAGE COMPANY 312 2.96% $11,344
QUICKEN LOANS, LLC 288 2.61% $9,565
MOVEMENT MORTGAGE, LLC 234 3.31% $11,883
LAKEVIEW LOAN SERVICING, LLC 221 2.82% $6,536
BAY EQUITY LLC 133 3.17% $13,486
FREEDOM MORTGAGE CORPORATION 132 2.74% $7,728
Mr. Cooper ( Nationstar Mortgage ) 109 3.01% $7,008
PENNYMAC LOAN SERVICES, LLC 108 2.82% $8,087
FINANCE OF AMERICA MORTGAGE LLC 101 3.20% $13,833
UNITED WHOLESALE MORTGAGE, LLC 100 2.62% $11,974
Paramount Residential Mortgage Group, Inc. 97 3.26% $12,326
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 83 3.52% $13,952
HOMEBRIDGE FINANCIAL SERVICES, INC. 81 2.86% $10,327
PREMIER MORTGAGE RESOURCES, L.L.C. 73 3.22% $14,470
CROSSCOUNTRY MORTGAGE, LLC 68 3.16% $13,669
BROKER SOLUTIONS, INC. 65 3.31% $11,989
HomeStreet Bank 57 3.04% $12,774
AMERICAN PACIFIC MORTGAGE CORPORATION 53 3.02% $13,306
LOANDEPOT.COM, LLC 53 3.14% $12,917
Carrington Mortgage Services, LLC 48 3.31% $13,674
EAGLE HOME MORTGAGE, LLC 46 3.14% $12,635
Wallick & Volk, Inc. 46 3.43% $10,781
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 46 3.11% $12,067
AXIA FINANCIAL, LLC 46 3.30% $12,431
MID AMERICA MORTGAGE, INC. 40 2.91% $4,271
First Home Bank 37 3.20% $12,279
NEWREZ LLC 37 2.90% $8,671
ACADEMY MORTGAGE CORPORATION 36 3.10% $14,509
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 35 3.27% $13,859
Lakeview Community Capital, LLC 34 2.74% $7,163
MORTGAGE MASTER SERVICE CORPORATION 33 3.28% $12,278
AMERICAN FINANCIAL NETWORK, INC. 33 3.03% $16,823
1st Security Bank of Washington 31 3.05% $13,840
HOME POINT FINANCIAL CORPORATION 31 2.60% $11,774
CMG MORTGAGE, INC. 31 3.17% $13,424
PLANET HOME LENDING, LLC 30 2.85% $9,761
LENDUS, LLC 29 3.08% $13,611
VILLAGE CAPITAL & INVESTMENT LLC 28 2.68% $3,564
HOMEAMERICAN MORTGAGE CORPORATION 28 2.76% $10,818
GUARANTEED RATE, INC. 28 2.83% $13,219
DHI MORTGAGE COMPANY, LTD. 27 2.89% $12,131
PRIMARY RESIDENTIAL MORTGAGE, INC. 22 3.40% $11,336
Umpqua Bank 22 2.89% $12,470
MANN FINANCIAL INC. 22 3.27% $12,518
Goldwater Bank, N.A. 20 3.05% $12,505
CORNERSTONE HOME LENDING, INC. 20 3.28% $13,826
DIRECTORS MORTGAGE, INC. 20 3.13% $14,526
Nations Lending Corporation 19 3.22% $14,397
Alaska USA Mortgage Company LLC 19 3.17% $11,564
Alaska USA Federal Credit Union 19 3.17% $11,564
Hometown Lenders, Inc. 18 3.12% $12,014
SUN WEST MORTGAGE COMPANY, INC. 18 2.94% $8,917
MLD MORTGAGE INC. 18 3.50% $11,882
AMERICAN FINANCIAL RESOURCES, INC. 17 2.90% $9,899
NFM, INC. 16 2.99% $14,967
INTERNATIONAL CITY MORTGAGE, INC. 16 3.64% $13,072
LEADERONE FINANCIAL CORPORATION 16 3.20% $11,994
MUTUAL OF OMAHA MORTGAGE, INC. 16 3.03% $11,685
AMERISAVE MORTGAGE CORPORATION 15 2.89% $11,707
The Federal Savings Bank 14 2.85% $13,489
AMCAP MORTGAGE, LTD. 14 2.99% $11,441
LAND HOME FINANCIAL SERVICES, INC. 13 3.11% $14,817
PRIORITY HOME LENDING, LLC 13 3.22% $13,693
First Guaranty Mortgage Corporation 13 2.83% $9,119
Banner Bank 13 2.48% $13,077
GENEVA FINANCIAL, LLC 12 3.15% $14,198
FIRST CONTINENTAL MORTGAGE, LTD. 12 3.44% $9,301
ON Q FINANCIAL, INC. 12 2.94% $13,856
Commerce Home Mortgage, Inc. 11 3.11% $10,663
PRIMELENDING, A PLAINSCAPITAL COMPANY 11 3.24% $14,275
ENVOY MORTGAGE, LTD 10 3.04% $13,623
EVERETT FINANCIAL, INC. 10 3.84% $10,915
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 10 3.33% $13,563
NATIONS RELIABLE LENDING, LLC 9 3.46% $12,522
PENRITH HOME LOANS LLC 9 3.21% $12,654
Flagstar Bank, FSB 9 2.78% $12,891
Mortgage Research Center, LLC 8 3.39% $12,183
CHURCHILL MORTGAGE CORPORATION 7 3.11% $14,608
SOVEREIGN LENDING GROUP INCORPORATED 7 2.89% $11,277
MORTGAGE SOLUTIONS OF COLORADO, LLC 7 2.95% $14,457
InterContinental Capital Group, Inc 7 2.80% $9,343
KeyBank 6 2.73% $12,305
JPMorgan Chase Bank 6 3.00% $10,729
Boeing Employees Credit Union 6 2.81% $11,192
CITYWIDE HOME LOANS, LLC 5 3.05% $12,932
AmeriHome Mortgage Company, LLC 5 2.75% $7,774
First Savings Bank 5 3.03% $14,052
Gateway First Bank 5 3.15% $11,083
TJC Mortgage, Inc. 5 3.30% $11,572
PREMIER LENDING, INC. 4 3.00% $12,810
Amerifirst Financial, Inc. 4 3.38% $10,536
ZILLOW HOME LOANS, LLC 4 2.53% $10,578
VERITAS FUNDING, LLC 4 3.22% $14,904
U.S. Bank 4 3.09% $12,056
TOP FLITE FINANCIAL, INC. 4 2.91% $23,096
Sunflower Bank 4 2.93% $14,919
Strong Home Mortgage, LLC 4 2.63% $7,294
Willamette Valley Bank 4 2.94% $11,431
ROUNDPOINT MORTGAGE SERVICING CORPORATION 4 3.06% $8,697
RANLIFE, INC. 4 3.25% $13,579
UNITED MORTGAGE CORP. 3 2.92% $12,353
UNITED SECURITY FINANCIAL CORP 3 2.88% $9,625
ML Mortgage Corp. 3 3.42% $13,661
OCEANSIDE MORTGAGE COMPANY 3 3.12% $5,302
Northpointe Bank 3 2.92% $10,764
CELEBRITY HOME LOANS, LLC 3 3.42% $11,289
KBHS HOME LOANS, LLC 3 2.58% $12,902
CHERRY CREEK MORTGAGE, LLC 3 2.54% $11,403
Equity Prime Mortgage LLC 3 3.13% $11,966
Chickasaw Community Bank 3 2.67% $11,091
FIRST CENTENNIAL MORTGAGE CORPORATION 3 2.75% $8,901
Wells Fargo Bank 3 2.92% $8,002
PANORAMA MORTGAGE GROUP, LLC 3 3.50% $17,546
BECKAM FUNDING CORP. 3 3.83% $13,416
Barrington Bank & Trust Company, N.A. 3 3.08% $9,482
Manufacturers and Traders Trust Company 3 2.96% $10,287
NATIONS DIRECT MORTGAGE, LLC 3 2.83% $14,808
MEMBER FIRST MORTGAGE, LLC 3 2.50% $11,199
INTELLILOAN, INC. 2 3.13% $8,970
HOME FUNDING CORPORATION 2 3.50% $14,020
HOMESIDE FINANCIAL, LLC 2 2.88% $13,728
Hometown Equity Mortgage, LLC 2 2.81% $15,151
Citizens Bank 2 2.38% $12,534
Colten Mortgage, LLC 2 2.69% $8,786
MORTGAGE MANAGEMENT CONSULTANTS, INC. 2 3.06% $12,584
Bank of England 2 3.00% $16,199
Bank of America 2 2.88% $10,650
NEXERA HOLDING LLC 2 2.31% $6,466
AMERICAN FINANCING CORPORATION 2 2.50% $8,763
Prosperity Home Mortgage, LLC 2 3.38% $11,565
RELIANCE FIRST CAPITAL, LLC 2 3.00% $14,530
SECURITYNATIONAL MORTGAGE COMPANY 2 2.69% $17,868
Stride Bank 2 3.38% $10,638
SUMMIT FUNDING, INC. 2 3.50% $10,836
WESTERN EXPRESS LENDING 2 3.38% $11,715
NETWORK CAPITAL FUNDING CORPORATION 1 2.88% $8,947
MYCUMORTGAGE, LLC 1 2.88% $14,125
FirstBank 1 2.75% $9,945
GSF Mortgage Corporation 1 3.25% $22,006
PULTE MORTGAGE LLC 1 3.00% $11,006
DAS Acquisition Company, LLC 1 4.25% $10,441
Franklin Loan Corporation 1 4.25% $11,085
CAMPOS FINANCIAL CORP. 1 3.25% $12,132
MUFG Union Bank 1 2.75% $10,628
ROYAL UNITED MORTGAGE LLC 1 3.25% $13,141
S1L, Inc. 1 3.00% $10,531
GUARANTEED RATE AFFINITY, LLC 1 2.63% $18,013
Shea Mortgage Inc. 1 3.38% $9,499
SOUTHWEST STAGE FUNDING, LLC 1 3.38% $11,923
Austin Capital Bank SSB 1 2.63% $11,720
Home Mortgage Alliance Corp 1 2.75% $22,346
MORIA DEVELOPMENT, INC. 1 3.13% $16,555
Wyndham Capital Mortgage, Inc. 1 2.88% $9,800
MEGASTAR FINANCIAL CORP. 1 2.50% $12,688
DRAPER AND KRAMER MORTGAGE CORP. 1 3.50% $10,655
T2 FINANCIAL LLC 1 3.88% $13,558
EMBRACE HOME LOANS, INC. 1 2.99% $8,128
THRIVE MORTGAGE, LLC 1 3.38% $23,922
BAYSHORE MORTGAGE FUNDING, LLC 1 3.25% $11,135
BETTER MORTGAGE CORPORATION 1 2.38% $14,986
TOWNE MORTGAGE COMPANY 1 3.00% $9,026
ALL WESTERN MORTGAGE, INC. 1 3.63% $10,267
Lake Area Bank 1 3.25% $10,172
LADERA LENDING, INC. 1 2.75% $13,469
ALLIED MORTGAGE GROUP, INC. 1 3.00% $12,663
JMAC LENDING, INC. 1 3.25% $14,502
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 2.75% $7,267
Victorian Finance, LLC 1 3.00% $10,365
INSPIRE HOME LOANS INC. 1 2.88% $13,143
PARKSIDE LENDING, LLC 1 3.00% $6,621
OPEN MORTGAGE, LLC 1 2.88% $9,109
NuVision Federal Credit Union 1 2.25% $12,689
PHH Mortgage Corporation 1 3.13% $5,445
North American Savings Bank, F.S.B. 1 2.75% $8,936
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.50% $9,419
VISION ONE MORTGAGE, INC. 1 3.00% $7,231

The top Tacoma FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 626 FHA loans originated. Their average total fees are $13,102, which is $1,053 higher than the next largest lender, CALIBER HOME LOANS, INC..

The lowest fee Tacoma FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($3,564), MID AMERICA MORTGAGE, INC. ($4,271), LAKEVIEW LOAN SERVICING, LLC ($6,536), Mr. Cooper ( Nationstar Mortgage ) ($7,008) and Lakeview Community Capital, LLC ($7,163).

The lowest rate Tacoma FHA lenders (with over 10 loans originated) are Banner Bank (2.48%), HOME POINT FINANCIAL CORPORATION (2.60%), QUICKEN LOANS, LLC (2.61%), UNITED WHOLESALE MORTGAGE, LLC (2.62%) and VILLAGE CAPITAL & INVESTMENT LLC (2.68%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Tacoma (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 $497,000 (13.6%) $822,806 (17.7%) 1.83 3,020
2018-02-01 $522,475 (13.7%) $842,187 (14.4%) 1.88 3,062
2018-03-01 $550,000 (14.1%) $861,145 (13.7%) 1.90 3,428
2018-04-01 $567,444 (14.6%) $865,153 (11.0%) 1.90 4,068
2018-05-01 $574,975 (15.1%) $862,623 (10.4%) 1.92 4,958
2018-06-01 $579,000 (15.8%) $863,030 (11.3%) 1.93 6,145
2018-07-01 $568,500 (13.7%) $825,908 (7.5%) 1.90 7,521
2018-08-01 $554,500 (13.7%) $795,811 (6.5%) 1.85 8,487
2018-09-01 $549,950 (12.3%) $780,888 (3.8%) 1.84 9,587
2018-10-01 $557,000 (12.5%) $781,507 (2.3%) 1.86 9,775
2018-11-01 $550,000 (11.1%) $779,804 (0.1%) 1.84 8,712
2018-12-01 $550,000 (11.1%) $785,745 (-1.0%) 1.88 7,151
2019-01-01 $563,900 (13.5%) $820,055 (-0.3%) 1.94 5,745
2019-02-01 $590,973 (13.1%) $858,699 (2.0%) 1.98 5,588
2019-03-01 $606,491 (10.3%) $876,525 (1.8%) 1.98 5,783
2019-04-01 $627,940 (10.7%) $905,243 (4.6%) 1.98 6,068
2019-05-01 $629,500 (9.5%) $890,540 (3.2%) 1.94 7,174
2019-06-01 $619,000 (6.9%) $866,498 (0.4%) 1.91 7,936
2019-07-01 $604,944 (6.4%) $857,001 (3.8%) 1.88 7,913
2019-08-01 $595,664 (7.4%) $844,070 (6.1%) 1.87 8,033
2019-09-01 $589,475 (7.2%) $836,162 (7.1%) 1.87 7,780
2019-10-01 $587,475 (5.5%) $832,696 (6.6%) 1.87 8,529
2019-11-01 $580,000 (5.5%) $836,584 (7.3%) 1.87 6,789
2019-12-01 $582,000 (5.8%) $850,252 (8.2%) 1.94 4,885
2020-01-01 $592,495 (5.1%) $874,162 (6.6%) 1.98 3,956
2020-02-01 $599,950 (1.5%) $894,876 (4.2%) 1.94 3,784
2020-03-01 $614,975 (1.4%) $891,020 (1.7%) 1.92 4,293
2020-04-01 $599,973 (-4.5%) $852,009 (-5.9%) 1.87 4,963
2020-05-01 $610,000 (-3.1%) $864,824 (-2.9%) 1.85 5,630
2020-06-01 $624,950 (1.0%) $893,090 (3.1%) 1.82 5,742
2020-07-01 $629,475 (4.1%) $901,753 (5.2%) 1.80 5,734
2020-08-01 $625,000 (4.9%) $890,881 (5.6%) 1.79 5,956
2020-09-01 $626,995 (6.4%) $892,935 (6.8%) 1.79 6,049
2020-10-01 $624,950 (6.4%) $896,079 (7.6%) 1.79 5,832
2020-11-01 $629,450 (8.5%) $926,930 (10.8%) 1.80 4,159
2020-12-01 $627,450 (7.8%) $933,443 (9.8%) 1.84 3,145
2021-01-01 $639,990 (8.0%) $966,939 (10.6%) 1.88 2,413
2021-02-01 $647,500 (7.9%) $960,673 (7.4%) 1.86 2,240
2021-03-01 $649,500 (5.6%) $929,283 (4.3%) 1.82 2,547
2021-04-01 $669,475 (11.6%) $942,142 (10.6%) 1.80 2,749
2021-05-01 $679,900 (11.5%) $954,508 (10.4%) 1.79 2,899
2021-06-01 $686,830 (9.9%) $951,254 (6.5%) 1.78 3,378
2021-07-01 $692,000 (9.9%) $955,871 (6.0%) 1.80 3,523
2021-08-01 $675,000 (8.0%) $915,715 (2.8%) 1.77 3,738
2021-09-01 $677,450 (8.1%) $928,676 (4.0%) 1.78 3,724
2021-10-01 $679,950 (8.8%) $950,349 (6.1%) 1.79 3,306
2021-11-01 $676,000 (7.4%) $957,793 (3.3%) 1.78 2,498
2021-12-01 $670,000 (6.8%) $946,708 (1.4%) 1.79 1,660
2022-01-01 $695,000 (8.6%) $1,018,070 (5.3%) 1.85 1,296
Tacoma's median listing price for 2022-01-01 was $695,000, a difference of $55,010 (8.6%) versus the prior year and $25,000 versus the prior month.

Tacoma's median listing price comes in at 185% of the national average.

Tacoma's average listing price for 2022-01-01 was $1,018,070, a difference of $51,131 (5.3%) versus the prior year and $71,362 versus the prior month.

For the 2022-01-01 period, Tacoma had 1,296 MLS listings, a difference of -364 listings (-22%) versus the prior month and -1,117 listings (-46%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Tacoma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 45 days 2,180 sqft
2018-02-01 27 days 2,173 sqft
2018-03-01 22 days 2,184 sqft
2018-04-01 23 days 2,160 sqft
2018-05-01 21 days 2,184 sqft
2018-06-01 23 days 2,170 sqft
2018-07-01 29 days 2,133 sqft
2018-08-01 31 days 2,098 sqft
2018-09-01 36 days 2,040 sqft
2018-10-01 38 days 2,029 sqft
2018-11-01 45 days 2,014 sqft
2018-12-01 59 days 2,024 sqft
2019-01-01 64 days 2,070 sqft
2019-02-01 44 days 2,119 sqft
2019-03-01 37 days 2,132 sqft
2019-04-01 28 days 2,164 sqft
2019-05-01 30 days 2,125 sqft
2019-06-01 33 days 2,110 sqft
2019-07-01 38 days 2,108 sqft
2019-08-01 41 days 2,069 sqft
2019-09-01 43 days 2,048 sqft
2019-10-01 43 days 2,045 sqft
2019-11-01 49 days 2,020 sqft
2019-12-01 63 days 2,037 sqft
2020-01-01 67 days 2,050 sqft
2020-02-01 38 days 2,075 sqft
2020-03-01 30 days 2,080 sqft
2020-04-01 32 days 2,067 sqft
2020-05-01 36 days 2,054 sqft
2020-06-01 35 days 2,038 sqft
2020-07-01 35 days 2,012 sqft
2020-08-01 32 days 1,920 sqft
2020-09-01 35 days 1,841 sqft
2020-10-01 35 days 1,780 sqft
2020-11-01 43 days 1,709 sqft
2020-12-01 50 days 1,685 sqft
2021-01-01 52 days 1,640 sqft
2021-02-01 35 days 1,661 sqft
2021-03-01 31 days 1,734 sqft
2021-04-01 28 days 1,767 sqft
2021-05-01 28 days 1,790 sqft
2021-06-01 26 days 1,814 sqft
2021-07-01 30 days 1,814 sqft
2021-08-01 29 days 1,819 sqft
2021-09-01 30 days 1,855 sqft
2021-10-01 34 days 1,840 sqft
2021-11-01 36 days 1,825 sqft
2021-12-01 41 days 1,794 sqft
2022-01-01 39 days 1,797 sqft
Tacoma's median listing age (time on market) for 2022-01-01 was 39 days. This is -25% shorter than the same period one year ago.

Tacoma's median square footage for active listings during the 2022-01-01 period was 1,797 sqft. One year prior, the average listing was 1,640 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).