Truckee FHA Loan Rates, Closing Costs & Stats

Truckee-Grass Valley, 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.

Truckee's 38 lenders originated 164 FHA loans during 2024. The total origination value was $65,810,000, with an average FHA loan value of $401,280.

Truckee FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Truckee averaged 0.33% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

Truckee's average FHA mortgage closing costs are $12,708.

The average rate for the prior week (2025-06-13) was 7.11% and one month ago for the week of 2025-05-16, the average rate was 6.67%.

The average rate one year ago was 6.93%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.05%.

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

Truckee 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 Truckee level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 32 6.24% $16,722
PLAZA HOME MORTGAGE, INC. 9 6.30% $17,508
AMERICAN PACIFIC MORTGAGE CORPORATION 8 6.20% $14,319
QUICKEN LOANS, LLC 8 6.00% $13,714
BROKER SOLUTIONS, INC. 7 6.61% $16,563
MOVEMENT MORTGAGE, LLC 7 6.20% $19,388
Sierra Pacific Mortgage Company, Inc. 5 6.53% $18,929
CROSSCOUNTRY MORTGAGE, LLC 4 6.44% $18,435
The Loan Store, Inc. 4 6.37% $12,383
Home Mortgage Alliance Corp 3 6.04% $20,110
Flagstar Bank, FSB 3 6.31% $10,340
Paramount Residential Mortgage Group, Inc. 3 6.54% $14,855
ALAMEDA MORTGAGE CORPORATION 2 6.38% $15,156
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.81% $13,355
Century Mortgage Company DBA Century Lending Company 2 5.94% $19,849
CMG MORTGAGE, INC. 2 6.19% $18,880
FREEDOM MORTGAGE CORPORATION 2 7.19% $8,289
LAKEVIEW LOAN SERVICING, LLC 2 6.44% $7,393
LOANDEPOT.COM, LLC 2 5.94% $11,125
Mr. Cooper ( Nationstar Mortgage ) 2 6.50% $12,236
Mortgage Research Center, LLC 1 5.75% $10,137
HighTechLending Inc 1 7.25% $14,812
Wells Fargo Bank 1 5.13% $26,836
NATIONS DIRECT MORTGAGE, LLC 1 5.13% $10,061
Northpointe Bank 1 6.50% $9,263
ON Q FINANCIAL, INC. 1 6.63% $11,321
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.13% $16,250
GUARANTEED RATE, INC. 1 6.25% $13,186
Performance Financial, Inc. 1 6.50% $18,643
GENEVA FINANCIAL, LLC 1 6.25% $31,011
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.50% $21,741
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $23,230
SCENIC OAKS FUNDING, INC. 1 5.99% $20,897
Equity Prime Mortgage LLC 1 6.75% $10,653
AMERISAVE MORTGAGE CORPORATION 1 6.00% $25,245
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $20,564
AmeriHome Mortgage Company, LLC 1 6.63% $11,124
U.S. Bank 1 6.13% $10,974

The top Truckee FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 32 FHA loans originated. Their average total fees are $16,722, which is $786 lower than the next largest lender, PLAZA HOME MORTGAGE, INC..

The lowest fee Truckee FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($16,722), .

The lowest rate Truckee FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.24%), .

Truckee FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
TRUCKEE-GRASS VALLEY, CA NEVADA 2022 $609,500 $780,250 $943,150 $1,172,150
TRUCKEE-GRASS VALLEY, CA NEVADA 2023 $644,000 $824,450 $996,550 $1,238,500

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).