The Dalles FHA Loan Rates, Closing Costs & Stats

The Dalles, OR

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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.

    The Dalles's 25 lenders originated 81 FHA loans during 2023. The total origination value was $26,395,000, with an average FHA loan value of $325,864.

    The Dalles FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in The Dalles averaged 6.61% for the week of 2024-06-14, compared to the national average (all FHA variants) of 6.712% for the same period.

    The Dalles's average FHA mortgage closing costs are $9,845.

    The average rate for the prior week (2024-06-07) was 6.5% and one month ago for the week of 2024-05-10, the average rate was 6.68%.

    The average rate one year ago was 6.64%.

    For refis of the same type during the week of 2024-06-14, the average rate was 6.91%.

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

    The Dalles 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 The Dalles level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 17 6.52% $11,893
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.46% $15,930
    QUICKEN LOANS, LLC 7 6.02% $15,862
    NEWREZ LLC 5 6.75% $13,231
    CALIBER HOME LOANS, INC. 4 6.44% $14,272
    GUILD MORTGAGE COMPANY 4 6.56% $15,544
    DIRECTORS MORTGAGE, INC. 3 6.79% $17,315
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 2 7.00% $9,936
    Mr. Cooper ( Nationstar Mortgage ) 2 5.88% $18,004
    PREMIER MORTGAGE RESOURCES, L.L.C. 2 5.88% $17,621
    PRIORITY HOME LENDING, LLC 2 5.13% $10,036
    Carrington Mortgage Services, LLC 2 6.00% $16,251
    AMERICAN FINANCIAL RESOURCES, INC. 2 5.88% $16,891
    CROSSCOUNTRY MORTGAGE, LLC 2 7.22% $14,002
    LOANDEPOT.COM, LLC 2 6.12% $12,262
    VILLAGE CAPITAL MORTGAGE 1 4.88% $18,300
    Equity Prime Mortgage LLC 1 6.50% $23,870
    Hometown Equity Mortgage, LLC 1 7.00% $11,363
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $13,460
    MANN FINANCIAL INC. 1 7.50% $6,080
    MASON MCDUFFIE MORTGAGE CORPORATION 1 7.25% $11,639
    NATIONS DIRECT MORTGAGE, LLC 1 7.25% $14,287
    PENNYMAC LOAN SERVICES, LLC 1 6.25% $12,046
    PLAZA HOME MORTGAGE, INC. 1 7.25% $9,691
    SUMMIT FUNDING, INC. 1 6.25% $12,891

    The top The Dalles FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 17 FHA loans originated. Their average total fees are $11,893, which is $4,037 lower than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee The Dalles FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($11,893), .

    The lowest rate The Dalles FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.52%), .

    The Dalles FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - The Dalles (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 $283,700 (5.9%) $325,223 (5.6%) 0.00 61
    2018-02-01 $293,450 (6.7%) $336,418 (3.4%) 0.00 51
    2018-03-01 $295,000 (5.7%) $345,863 (8.2%) 0.00 55
    2018-04-01 $329,000 (16.7%) $357,346 (8.3%) 0.00 65
    2018-05-01 $329,000 (13.6%) $369,903 (11.9%) 0.00 64
    2018-06-01 $330,000 (3.6%) $381,844 (11.7%) 0.00 71
    2018-07-01 $326,950 (-2.8%) $370,171 (-4.3%) 0.00 72
    2018-08-01 $329,000 (-4.3%) $372,701 (-3.2%) 0.00 85
    2018-09-01 $304,925 (-10.3%) $363,596 (-4.0%) 0.00 82
    2018-10-01 $301,975 (-5.2%) $368,148 (-0.8%) 0.00 80
    2018-11-01 $308,450 (4.3%) $381,059 (6.1%) 0.00 82
    2018-12-01 $315,000 (7.9%) $395,051 (11.7%) 0.00 73
    2019-01-01 $321,000 (13.2%) $384,347 (18.2%) 0.00 73
    2019-02-01 $315,000 (7.3%) $382,147 (13.6%) 0.00 74
    2019-03-01 $328,714 (11.4%) $386,513 (11.8%) 0.00 70
    2019-04-01 $348,000 (5.8%) $405,648 (13.5%) 0.00 71
    2019-05-01 $342,000 (4.0%) $420,071 (13.6%) 0.00 70
    2019-06-01 $347,000 (5.2%) $416,300 (9.0%) 0.00 97
    2019-07-01 $354,900 (8.6%) $428,179 (15.7%) 0.00 99
    2019-08-01 $348,455 (5.9%) $430,732 (15.6%) 0.00 102
    2019-09-01 $347,636 (14.0%) $435,863 (19.9%) 0.00 105
    2019-10-01 $347,000 (14.9%) $435,686 (18.4%) 0.00 101
    2019-11-01 $338,450 (9.7%) $431,085 (13.1%) 0.00 92
    2019-12-01 $318,675 (1.2%) $420,819 (6.5%) 0.00 85
    2020-01-01 $336,700 (4.9%) $440,707 (14.7%) 0.00 74
    2020-02-01 $344,450 (9.4%) $446,586 (16.9%) 0.00 72
    2020-03-01 $349,450 (6.3%) $461,096 (19.3%) 0.00 76
    2020-04-01 $347,000 (-0.3%) $451,675 (11.4%) 0.00 85
    2020-05-01 $349,000 (2.1%) $456,461 (8.7%) 0.00 85
    2020-06-01 $334,700 (-3.5%) $441,045 (5.9%) 0.00 71
    2020-07-01 $342,250 (-3.6%) $449,144 (4.9%) 0.00 67
    2020-08-01 $349,000 (0.2%) $450,506 (4.6%) 0.00 65
    2020-09-01 $349,000 (0.4%) $465,625 (6.8%) 0.00 60
    2020-10-01 $349,900 (0.8%) $502,737 (15.4%) 0.00 50
    2020-11-01 $374,950 (10.8%) $513,337 (19.1%) 0.00 45
    2020-12-01 $365,013 (14.5%) $528,689 (25.6%) 0.00 41
    2021-01-01 $401,900 (19.4%) $538,220 (22.1%) 0.00 33
    2021-02-01 $386,950 (12.3%) $525,368 (17.6%) 0.00 34
    2021-03-01 $394,225 (12.8%) $537,463 (16.6%) 0.00 30
    2021-04-01 $444,500 (28.1%) $596,111 (32.0%) 0.00 26
    2021-05-01 $389,000 (11.5%) $532,899 (16.8%) 0.00 29
    2021-06-01 $382,975 (14.4%) $526,353 (19.3%) 0.00 33
    2021-07-01 $393,750 (15.1%) $573,117 (27.6%) 0.00 23
    2021-08-01 $417,500 (19.6%) $680,263 (51.0%) 0.00 27
    2021-09-01 $422,075 (20.9%) $655,888 (40.9%) 0.00 40
    2021-10-01 $492,500 (40.8%) $702,593 (39.8%) 0.00 34
    2021-11-01 $477,225 (27.3%) $701,535 (36.7%) 0.00 31
    2021-12-01 $489,725 (34.2%) $741,284 (40.2%) 0.00 24
    2022-01-01 $489,000 (21.7%) $683,872 (27.1%) 0.00 21
    2022-02-01 $413,500 (6.9%) $615,088 (17.1%) 0.00 23
    2022-03-01 $431,150 (9.4%) $590,742 (9.9%) 0.00 22
    2022-04-01 $447,000 (0.6%) $626,975 (5.2%) 0.00 22
    2022-05-01 $480,250 (23.5%) $689,288 (29.4%) 0.00 38
    2022-06-01 $474,500 (23.9%) $701,527 (33.3%) 0.00 42
    2022-07-01 $440,000 (11.8%) $618,705 (8.0%) 0.00 58
    2022-08-01 $415,500 (-0.5%) $590,014 (-13.3%) 0.00 60
    2022-09-01 $423,750 (0.4%) $592,181 (-9.7%) 0.00 63
    2022-10-01 $440,000 (-10.7%) $624,474 (-11.1%) 0.00 61
    2022-11-01 $447,125 (-6.3%) $651,177 (-7.2%) 0.00 61
    2022-12-01 $455,000 (-7.1%) $668,691 (-9.8%) 0.00 53
    2023-01-01 $470,000 (-3.9%) $695,993 (1.8%) 0.00 48
    2023-02-01 $450,000 (8.8%) $683,552 (11.1%) 0.00 49
    2023-03-01 $450,000 (4.4%) $670,437 (13.5%) 0.00 51
    2023-04-01 $479,000 (7.2%) $695,123 (10.9%) 0.00 49
    2023-05-01 $495,000 (3.1%) $713,312 (3.5%) 0.00 52
    2023-06-01 $540,000 (13.8%) $743,311 (6.0%) 0.00 57
    2023-07-01 $459,900 (4.5%) $685,245 (10.8%) 0.00 58
    2023-08-01 $468,250 (12.7%) $681,515 (15.5%) 0.00 62
    2023-09-01 $430,000 (1.5%) $635,517 (7.3%) 0.00 63
    2023-10-01 $455,000 (3.4%) $639,773 (2.5%) 0.00 63
    2023-11-01 $449,000 (0.4%) $615,823 (-5.4%) 0.00 58
    2023-12-01 $430,000 (-5.5%) $658,505 (-1.5%) 0.00 51
    2024-01-01 $423,500 (-9.9%) $703,913 (1.1%) 0.00 44
    2024-02-01 $422,500 (-6.1%) $736,001 (7.7%) 0.00 41
    2024-03-01 $427,000 (-5.1%) $699,431 (4.3%) 0.00 51
    2024-04-01 $429,950 (-10.2%) $665,981 (-4.2%) 0.00 61
    2024-05-01 $444,500 (-10.2%) $672,061 (-5.8%) 0.00 71
    The Dalles's median listing price for 2024-05-01 was $444,500, a difference of $-50,500 (-10.2%) versus the prior year and $14,550 versus the prior month.

    The Dalles's median listing price comes in at 0% of the national average.

    The Dalles's average listing price for 2024-05-01 was $672,061, a difference of $-41,251 (-5.8%) versus the prior year and $6,080 versus the prior month.

    For the 2024-05-01 period, The Dalles had 71 MLS listings, a difference of 10 listings (16%) versus the prior month and 19 listings (37%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - The Dalles (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,877 sqft
    2018-02-01 0 days 1,817 sqft
    2018-03-01 0 days 1,884 sqft
    2018-04-01 0 days 1,910 sqft
    2018-05-01 0 days 1,966 sqft
    2018-06-01 0 days 2,052 sqft
    2018-07-01 0 days 2,033 sqft
    2018-08-01 0 days 2,009 sqft
    2018-09-01 0 days 1,916 sqft
    2018-10-01 0 days 1,863 sqft
    2018-11-01 0 days 1,858 sqft
    2018-12-01 0 days 1,940 sqft
    2019-01-01 0 days 1,910 sqft
    2019-02-01 0 days 1,942 sqft
    2019-03-01 0 days 1,997 sqft
    2019-04-01 0 days 2,003 sqft
    2019-05-01 0 days 2,004 sqft
    2019-06-01 0 days 1,969 sqft
    2019-07-01 0 days 2,006 sqft
    2019-08-01 0 days 2,021 sqft
    2019-09-01 0 days 2,072 sqft
    2019-10-01 0 days 2,131 sqft
    2019-11-01 0 days 2,047 sqft
    2019-12-01 0 days 1,949 sqft
    2020-01-01 0 days 1,880 sqft
    2020-02-01 0 days 1,880 sqft
    2020-03-01 0 days 1,935 sqft
    2020-04-01 0 days 1,880 sqft
    2020-05-01 0 days 1,976 sqft
    2020-06-01 0 days 1,981 sqft
    2020-07-01 0 days 2,008 sqft
    2020-08-01 0 days 1,924 sqft
    2020-09-01 0 days 1,911 sqft
    2020-10-01 0 days 1,956 sqft
    2020-11-01 0 days 1,969 sqft
    2020-12-01 0 days 1,910 sqft
    2021-01-01 0 days 2,000 sqft
    2021-02-01 0 days 2,013 sqft
    2021-03-01 0 days 1,843 sqft
    2021-04-01 0 days 2,098 sqft
    2021-05-01 0 days 1,804 sqft
    2021-06-01 0 days 1,646 sqft
    2021-07-01 0 days 1,716 sqft
    2021-08-01 0 days 1,985 sqft
    2021-09-01 0 days 1,874 sqft
    2021-10-01 0 days 2,076 sqft
    2021-11-01 0 days 2,026 sqft
    2021-12-01 0 days 1,915 sqft
    2022-01-01 0 days 1,902 sqft
    2022-02-01 0 days 1,688 sqft
    2022-03-01 0 days 1,591 sqft
    2022-04-01 0 days 1,750 sqft
    2022-05-01 0 days 1,902 sqft
    2022-06-01 0 days 1,768 sqft
    2022-07-01 0 days 1,815 sqft
    2022-08-01 0 days 1,794 sqft
    2022-09-01 0 days 1,914 sqft
    2022-10-01 0 days 1,864 sqft
    2022-11-01 0 days 1,865 sqft
    2022-12-01 0 days 1,880 sqft
    2023-01-01 0 days 1,876 sqft
    2023-02-01 0 days 1,802 sqft
    2023-03-01 0 days 1,845 sqft
    2023-04-01 0 days 1,815 sqft
    2023-05-01 0 days 1,927 sqft
    2023-06-01 0 days 1,958 sqft
    2023-07-01 0 days 1,940 sqft
    2023-08-01 0 days 1,930 sqft
    2023-09-01 0 days 1,929 sqft
    2023-10-01 0 days 1,892 sqft
    2023-11-01 0 days 2,019 sqft
    2023-12-01 0 days 1,932 sqft
    2024-01-01 0 days 1,975 sqft
    2024-02-01 0 days 1,860 sqft
    2024-03-01 0 days 2,027 sqft
    2024-04-01 0 days 1,918 sqft
    2024-05-01 0 days 1,899 sqft
    The Dalles's median listing age (time on market) for 2024-05-01 was 0 days.

    The Dalles's median square footage for active listings during the 2024-05-01 period was 1,899 sqft. One year prior, the average listing was 1,927 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).