Tucson FHA Loans

TUCSON, AZ

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.

Tucson's 161 lenders originated 6,087 FHA loans during 2021. The total origination value was $1,321,365,000, with an average FHA loan value of $217,080.

Tucson FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Tucson averaged 6.13% for the week of 2022-09-23, compared to the national average (all FHA variants) of 6.08% for the same period.

The average rate for the prior week (2022-09-16) was 5.63% and one month ago for the week of 2022-08-19, the average rate was 5.24%.

The average rate one year ago was 2.89%.

For refis of the same type during the week of 2022-09-23, the average rate was 5.75%.

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

Tucson 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 Tucson level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
NOVA FINANCIAL & INVESTMENT CORPORATION 969 3.27% $6,869
GUILD MORTGAGE COMPANY 400 3.15% $9,114
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 327 3.40% $9,419
QUICKEN LOANS, LLC 325 2.68% $6,152
SUNSTREET MORTGAGE, LLC 289 3.25% $8,352
ALTITUDE FINANCIAL CORPORATION 205 3.04% $6,886
LOANDEPOT.COM, LLC 194 3.35% $9,700
V.I.P. MORTGAGE, INC. 161 3.03% $8,440
FREEDOM MORTGAGE CORPORATION 141 2.74% $4,592
PENNYMAC LOAN SERVICES, LLC 111 3.00% $4,573
LAKEVIEW LOAN SERVICING, LLC 105 2.98% $4,345
DHI MORTGAGE COMPANY, LTD. 102 2.84% $7,708
Mr. Cooper ( Nationstar Mortgage ) 98 3.20% $4,345
SUMMIT FUNDING, INC. 97 3.25% $9,940
UNITED WHOLESALE MORTGAGE, LLC 88 2.73% $8,047
KBHS HOME LOANS, LLC 86 3.28% $12,491
CALIBER HOME LOANS, INC. 81 2.90% $6,096
Prosperity Home Mortgage, LLC 70 3.27% $8,651
NEWREZ LLC 62 2.88% $4,135
MORIA DEVELOPMENT, INC. 61 3.15% $9,765
CROSSCOUNTRY MORTGAGE, LLC 60 3.28% $10,288
Lend Smart Mortgage, LLC 58 3.20% $9,373
MOVEMENT MORTGAGE, LLC 54 3.35% $8,505
VILLAGE CAPITAL MORTGAGE 49 2.91% $2,449
Lakeview Community Capital, LLC 47 2.93% $4,364
HOMEAMERICAN MORTGAGE CORPORATION 46 3.03% $7,133
EAGLE HOME MORTGAGE, LLC 46 3.18% $10,973
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 43 3.10% $8,768
AmeriHome Mortgage Company, LLC 40 3.01% $4,036
GENEVA FINANCIAL, LLC 40 3.51% $10,983
BROKER SOLUTIONS, INC. 38 3.41% $8,561
HOMEBRIDGE FINANCIAL SERVICES, INC. 35 2.63% $5,121
GUARANTEED RATE, INC. 32 3.04% $7,926
LOANPAL, LLC 31 2.57% $8,900
Carrington Mortgage Services, LLC 30 3.45% $7,427
Nations Lending Corporation 28 3.10% $8,790
AMCAP MORTGAGE, LTD. 26 3.23% $9,301
Paramount Residential Mortgage Group, Inc. 21 3.21% $7,846
Amerifirst Financial, Inc. 20 3.18% $7,973
HOME POINT FINANCIAL CORPORATION 19 2.78% $7,949
AMERISAVE MORTGAGE CORPORATION 15 2.87% $8,181
AMERICAN FINANCIAL NETWORK, INC. 14 2.89% $10,197
GUARANTEED RATE AFFINITY, LLC 14 2.86% $8,541
RESIDENTIAL BANCORP. 13 3.17% $12,329
BAY EQUITY LLC 13 3.12% $9,144
First Guaranty Mortgage Corporation 12 3.06% $5,200
PREMIER LENDING, INC. 12 3.48% $8,615
SECURITYNATIONAL MORTGAGE COMPANY 12 4.07% $12,163
SOVEREIGN LENDING GROUP INCORPORATED 12 2.81% $8,394
LHM FINANCIAL CORPORATION 12 2.93% $6,811
SUN WEST MORTGAGE COMPANY, INC. 12 3.15% $7,893
PRIMARY RESIDENTIAL MORTGAGE, INC. 11 3.47% $10,551
STEARNS LENDING, LLC 10 3.58% $8,842
PLANET HOME LENDING, LLC 10 2.79% $5,909
Flagstar Bank, FSB 9 2.76% $10,256
MID AMERICA MORTGAGE, INC. 9 3.28% $4,480
Commerce Home Mortgage, Inc. 8 3.38% $8,167
CELEBRITY HOME LOANS, LLC 8 3.20% $11,924
NFM, INC. 8 3.56% $9,235
FINANCE OF AMERICA MORTGAGE LLC 7 3.04% $10,289
MATTAMY HOME FUNDING, LLC 7 2.61% $12,234
InterContinental Capital Group, Inc 6 2.79% $7,280
ALL WESTERN MORTGAGE, INC. 6 3.68% $9,267
TOP FLITE FINANCIAL, INC. 6 3.29% $9,537
AMERICAN PACIFIC MORTGAGE CORPORATION 6 3.08% $8,068
AMERICAN FINANCING CORPORATION 6 3.25% $6,117
PHH Mortgage Corporation 6 3.02% $6,943
CMG MORTGAGE, INC. 6 2.94% $10,785
JPMorgan Chase Bank 5 2.95% $7,166
TOWNE MORTGAGE COMPANY 5 2.62% $9,411
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 2.70% $7,560
NEW WEST LENDING, INC. 5 3.25% $7,802
HOMEOWNERS FINANCIAL GROUP USA, LLC 5 3.08% $11,629
SUBURBAN MORTGAGE, INC. 4 2.97% $9,739
LEADERONE FINANCIAL CORPORATION 4 2.72% $6,966
MUTUAL OF OMAHA MORTGAGE, INC. 4 3.00% $7,513
SOUTHWEST STAGE FUNDING, LLC 4 3.22% $4,177
The Home Loan Expert LLC 4 2.86% $9,116
U.S. Bank 4 3.06% $6,378
VANDERBILT MORTGAGE AND FINANCE, INC. 4 3.44% $10,907
Wells Fargo Bank 4 3.69% $5,326
NATIONS DIRECT MORTGAGE, LLC 3 3.25% $7,567
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 3.00% $7,626
Equity Prime Mortgage LLC 3 3.50% $6,582
UNION HOME MORTGAGE CORP. 3 3.67% $8,261
DATA MORTGAGE, INC. 3 3.71% $11,671
PULTE MORTGAGE LLC 3 3.17% $5,882
INTERLINC MORTGAGE SERVICES, LLC 3 3.71% $10,573
Barrington Bank & Trust Company, N.A. 3 3.29% $8,349
PLAZA HOME MORTGAGE, INC. 3 3.04% $6,948
Manufacturers and Traders Trust Company 3 3.25% $6,310
Bank of America 3 3.00% $5,506
Gateway First Bank 3 3.29% $7,063
MLD MORTGAGE INC. 3 2.75% $8,799
HOMESIDE FINANCIAL, LLC 3 3.17% $8,164
Neighborhood Loans, Inc. 3 3.50% $8,692
LAND HOME FINANCIAL SERVICES, INC. 2 4.00% $9,062
AMERICAN FINANCIAL RESOURCES, INC. 2 3.06% $10,227
Peoples Bank 2 3.31% $7,212
STARBOARD FINANCIAL MANAGEMENT, LLC 2 3.25% $7,527
SWBC MORTGAGE CORPORATION 2 2.94% $6,783
ACADEMY MORTGAGE CORPORATION 2 3.56% $9,709
AMERICAN PORTFOLIO MORTGAGE CORPORATION 2 3.56% $9,589
CHERRY CREEK MORTGAGE, LLC 2 3.56% $5,533
MICHIGAN MUTUAL, INC. 2 3.25% $9,498
OCEANSIDE MORTGAGE COMPANY 2 2.75% $2,744
OCMBC, INC. 2 3.13% $6,281
RELIANCE FIRST CAPITAL, LLC 2 3.00% $11,188
EMBRACE HOME LOANS, INC. 2 3.12% $9,443
Chickasaw Community Bank 1 3.13% $7,009
Prime Choice Funding Inc. 1 2.99% $6,261
CANOPY MORTGAGE, LLC 1 2.38% $8,232
RADIUS FINANCIAL GROUP INC. 1 2.25% $9,839
RANLIFE, INC. 1 3.38% $9,118
BETTER MORTGAGE CORPORATION 1 2.50% $8,612
ROYAL UNITED MORTGAGE LLC 1 2.75% $9,807
Bell Bank 1 3.00% $7,616
Sierra Pacific Mortgage Company, Inc. 1 2.75% $6,510
BECKAM FUNDING CORP. 1 3.88% $7,442
BAYSHORE MORTGAGE FUNDING, LLC 1 2.88% $5,673
1st Security Bank of Washington 1 2.50% $9,115
SUN AMERICAN MORTGAGE COMPANY 1 3.25% $5,799
Bank of England 1 3.13% $11,646
The Federal Savings Bank 1 2.75% $9,632
TJC Mortgage, Inc. 1 2.88% $7,577
ARC HOME LLC 1 2.63% $6,996
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.25% $8,729
Waterstone Mortgage Corporation 1 3.63% $7,692
INTELLILOAN, INC. 1 2.88% $10,377
INSPIRE HOME LOANS INC. 1 3.00% $8,781
KELLER MORTGAGE, LLC 1 2.88% $7,185
LADERA LENDING, INC. 1 2.25% $6,437
IDEAL HOME LOANS LLC 1 2.63% $11,957
Hometown Lenders, Inc. 1 3.63% $10,611
Wyndham Capital Mortgage, Inc. 1 3.13% $6,687
Home Mortgage Alliance Corp 1 2.75% $13,521
GSF Mortgage Corporation 1 4.25% $12,973
LOANLEADERS OF AMERICA, INC. 1 2.50% $8,448
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 4.50% $12,834
Loan Simple, Inc. 1 3.13% $12,343
MANN FINANCIAL INC. 1 3.50% $4,202
Glacier Bank 1 2.88% $7,559
First National Bank Texas 1 2.88% $9,283
Mortgage Research Center, LLC 1 2.99% $6,035
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.75% $9,628
MOUNTAIN WEST FINANCIAL, INC. 1 2.88% $6,427
First American Bank 1 2.75% $8,495
FBT Mortgage, L.L.C. 1 3.13% $11,582
VANTAGE WEST 1 2.88% $8,404
FBC MORTGAGE, LLC 1 3.13% $9,107
NBKC BANK 1 3.88% $5,887
EVERETT FINANCIAL, INC. 1 2.75% $6,812
ENVOY MORTGAGE, LTD 1 4.25% $11,081
North American Savings Bank, F.S.B. 1 2.75% $7,019
EMM LOANS LLC 1 2.38% $15,393
NP, Inc. 1 2.88% $7,032
ONY GLO, INC. 1 3.88% $8,381
PARKSIDE LENDING, LLC 1 2.75% $7,142
DRAPER AND KRAMER MORTGAGE CORP. 1 3.63% $10,496
DIRECTORS MORTGAGE, INC. 1 2.63% $11,817
COMMUNITY MORTGAGE FUNDING, LLC 1 2.88% $7,674

The top Tucson FHA lender as defined by loan originations is NOVA FINANCIAL & INVESTMENT CORPORATION, with 969 FHA loans originated. Their average total fees are $6,869, which is $2,244 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Tucson FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,449), AmeriHome Mortgage Company, LLC ($4,036), NEWREZ LLC ($4,135), Mr. Cooper ( Nationstar Mortgage ) ($4,345) and LAKEVIEW LOAN SERVICING, LLC ($4,345).

The lowest rate Tucson FHA lenders (with over 10 loans originated) are LOANPAL, LLC (2.57%), HOMEBRIDGE FINANCIAL SERVICES, INC. (2.63%), QUICKEN LOANS, LLC (2.68%), UNITED WHOLESALE MORTGAGE, LLC (2.73%) and FREEDOM MORTGAGE CORPORATION (2.74%).

Tucson FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
TUCSON, AZ PIMA 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Tucson (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 $264,950 (9.5%) $379,210 (8.0%) 0.98 3,754
2018-02-01 $269,950 (8.6%) $383,617 (5.9%) 0.97 3,650
2018-03-01 $269,900 (6.3%) $382,603 (4.2%) 0.93 3,615
2018-04-01 $275,750 (8.8%) $388,625 (6.2%) 0.93 3,432
2018-05-01 $280,000 (11.1%) $396,063 (8.4%) 0.93 3,220
2018-06-01 $275,619 (6.9%) $392,700 (6.8%) 0.92 3,110
2018-07-01 $279,000 (11.6%) $386,850 (7.3%) 0.93 3,077
2018-08-01 $279,900 (12.0%) $384,975 (7.7%) 0.94 3,028
2018-09-01 $279,000 (9.8%) $385,569 (7.9%) 0.93 3,092
2018-10-01 $276,500 (6.6%) $383,907 (5.0%) 0.92 3,352
2018-11-01 $278,500 (7.1%) $383,237 (2.7%) 0.93 3,478
2018-12-01 $277,000 (6.5%) $388,047 (3.4%) 0.95 3,432
2019-01-01 $279,750 (5.6%) $394,842 (4.1%) 0.96 3,364
2019-02-01 $285,000 (5.6%) $404,579 (5.5%) 0.95 3,423
2019-03-01 $293,857 (8.9%) $418,735 (9.4%) 0.96 3,285
2019-04-01 $298,923 (8.4%) $424,887 (9.3%) 0.94 3,176
2019-05-01 $299,000 (6.8%) $425,930 (7.5%) 0.92 3,014
2019-06-01 $295,000 (7.0%) $417,212 (6.2%) 0.91 2,871
2019-07-01 $287,258 (3.0%) $409,587 (5.9%) 0.89 2,766
2019-08-01 $290,283 (3.7%) $418,079 (8.6%) 0.91 2,595
2019-09-01 $290,983 (4.3%) $421,737 (9.4%) 0.92 2,537
2019-10-01 $294,950 (6.7%) $433,167 (12.8%) 0.94 2,756
2019-11-01 $295,000 (5.9%) $433,542 (13.1%) 0.95 2,795
2019-12-01 $289,950 (4.7%) $428,006 (10.3%) 0.97 2,665
2020-01-01 $292,000 (4.4%) $426,266 (8.0%) 0.97 2,480
2020-02-01 $299,000 (4.9%) $435,553 (7.7%) 0.96 2,418
2020-03-01 $299,900 (2.1%) $437,415 (4.5%) 0.94 2,371
2020-04-01 $297,450 (-0.5%) $420,269 (-1.1%) 0.93 2,623
2020-05-01 $305,000 (2.0%) $436,629 (2.5%) 0.92 2,314
2020-06-01 $327,500 (11.0%) $469,384 (12.5%) 0.96 1,748
2020-07-01 $329,450 (14.7%) $467,998 (14.3%) 0.94 1,533
2020-08-01 $335,000 (15.4%) $477,451 (14.2%) 0.96 1,492
2020-09-01 $336,950 (15.8%) $510,831 (21.1%) 0.96 1,501
2020-10-01 $329,000 (11.5%) $508,185 (17.3%) 0.94 1,599
2020-11-01 $328,995 (11.5%) $511,914 (18.1%) 0.94 1,523
2020-12-01 $324,528 (11.9%) $509,953 (19.2%) 0.95 1,337
2021-01-01 $320,000 (9.6%) $509,640 (19.6%) 0.94 1,126
2021-02-01 $329,835 (10.3%) $529,402 (21.6%) 0.95 902
2021-03-01 $339,950 (13.4%) $538,482 (23.1%) 0.95 850
2021-04-01 $347,000 (16.7%) $540,330 (28.6%) 0.93 855
2021-05-01 $344,900 (13.1%) $529,762 (21.3%) 0.91 884
2021-06-01 $350,000 (6.9%) $532,592 (13.5%) 0.91 958
2021-07-01 $350,000 (6.2%) $501,690 (7.2%) 0.91 1,148
2021-08-01 $359,450 (7.3%) $491,222 (2.9%) 0.94 1,294
2021-09-01 $359,900 (6.8%) $498,495 (-2.4%) 0.95 1,451
2021-10-01 $359,810 (9.4%) $493,196 (-3.0%) 0.95 1,661
2021-11-01 $359,975 (9.4%) $499,282 (-2.5%) 0.95 1,642
2021-12-01 $361,940 (11.5%) $495,425 (-2.9%) 0.97 1,502
2022-01-01 $365,000 (14.1%) $519,187 (1.9%) 0.97 1,334
2022-02-01 $379,450 (15.0%) $558,005 (5.4%) 0.97 1,060
2022-03-01 $389,994 (14.7%) $581,295 (8.0%) 0.96 966
2022-04-01 $399,900 (15.2%) $579,614 (7.3%) 0.94 995
2022-05-01 $409,450 (18.7%) $595,109 (12.3%) 0.92 1,168
2022-06-01 $411,955 (17.7%) $577,025 (8.3%) 0.92 1,489
2022-07-01 $399,900 (14.3%) $547,460 (9.1%) 0.89 1,936
2022-08-01 $390,000 (8.5%) $523,295 (6.5%) 0.90 2,163
Tucson's median listing price for 2022-08-01 was $390,000, a difference of $30,550 (8.5%) versus the prior year and $-9,900 versus the prior month.

Tucson's median listing price comes in at 90% of the national average.

Tucson's average listing price for 2022-08-01 was $523,295, a difference of $32,073 (6.5%) versus the prior year and $-24,165 versus the prior month.

For the 2022-08-01 period, Tucson had 2,163 MLS listings, a difference of 227 listings (12%) versus the prior month and 869 listings (67%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Tucson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 64 days 1,989 sqft
2018-02-01 53 days 2,012 sqft
2018-03-01 50 days 2,016 sqft
2018-04-01 51 days 2,036 sqft
2018-05-01 49 days 2,043 sqft
2018-06-01 50 days 2,012 sqft
2018-07-01 54 days 2,024 sqft
2018-08-01 55 days 2,012 sqft
2018-09-01 53 days 2,013 sqft
2018-10-01 51 days 1,980 sqft
2018-11-01 52 days 1,981 sqft
2018-12-01 58 days 1,957 sqft
2019-01-01 63 days 1,996 sqft
2019-02-01 49 days 2,031 sqft
2019-03-01 52 days 2,058 sqft
2019-04-01 53 days 2,064 sqft
2019-05-01 52 days 2,052 sqft
2019-06-01 54 days 2,055 sqft
2019-07-01 52 days 2,025 sqft
2019-08-01 52 days 2,026 sqft
2019-09-01 52 days 2,015 sqft
2019-10-01 46 days 2,050 sqft
2019-11-01 46 days 2,012 sqft
2019-12-01 57 days 1,992 sqft
2020-01-01 58 days 2,002 sqft
2020-02-01 46 days 2,010 sqft
2020-03-01 44 days 2,006 sqft
2020-04-01 44 days 1,975 sqft
2020-05-01 56 days 1,992 sqft
2020-06-01 58 days 2,021 sqft
2020-07-01 53 days 2,013 sqft
2020-08-01 45 days 2,032 sqft
2020-09-01 37 days 1,994 sqft
2020-10-01 33 days 1,955 sqft
2020-11-01 40 days 1,946 sqft
2020-12-01 45 days 1,938 sqft
2021-01-01 48 days 1,923 sqft
2021-02-01 41 days 1,912 sqft
2021-03-01 38 days 1,941 sqft
2021-04-01 36 days 1,889 sqft
2021-05-01 36 days 1,868 sqft
2021-06-01 35 days 1,876 sqft
2021-07-01 33 days 1,844 sqft
2021-08-01 33 days 1,847 sqft
2021-09-01 34 days 1,849 sqft
2021-10-01 35 days 1,844 sqft
2021-11-01 37 days 1,866 sqft
2021-12-01 44 days 1,862 sqft
2022-01-01 48 days 1,862 sqft
2022-02-01 40 days 1,874 sqft
2022-03-01 38 days 1,883 sqft
2022-04-01 35 days 1,893 sqft
2022-05-01 31 days 1,918 sqft
2022-06-01 30 days 1,914 sqft
2022-07-01 32 days 1,873 sqft
2022-08-01 36 days 1,831 sqft
Tucson's median listing age (time on market) for 2022-08-01 was 36 days. This is 8% longer than the same period one year ago.

Tucson's median square footage for active listings during the 2022-08-01 period was 1,831 sqft. One year prior, the average listing was 1,847 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).