Twin Falls FHA Loan Rates, Closing Costs & Stats

TWIN FALLS, ID

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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.

    Twin Falls's 46 lenders originated 407 FHA loans during 2023. The total origination value was $110,685,000, with an average FHA loan value of $271,953.

    Twin Falls FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Twin Falls averaged -0.04% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Twin Falls's average FHA mortgage closing costs are $9,012.

    The average rate for the prior week (2024-11-08) was 5.96% and one month ago for the week of 2024-10-11, the average rate was 5.67%.

    The average rate one year ago was 6.81%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.22%.

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

    Twin Falls 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 Twin Falls level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    AXIA FINANCIAL, LLC 49 6.55% $11,524
    CORNERSTONE HOME LENDING, INC. 40 6.37% $13,790
    NFM, INC. 38 6.53% $13,051
    IDAHO CENTRAL 35 6.13% $12,220
    GUILD MORTGAGE COMPANY 31 6.53% $12,169
    QUICKEN LOANS, LLC 22 5.99% $12,821
    UNITED WHOLESALE MORTGAGE, LLC 21 5.90% $14,870
    PREMIER MORTGAGE RESOURCES, L.L.C. 13 6.51% $15,676
    MOVEMENT MORTGAGE, LLC 9 6.49% $13,190
    BROKER SOLUTIONS, INC. 5 6.57% $11,963
    FREEDOM MORTGAGE CORPORATION 4 7.00% $16,309
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.78% $14,799
    LOANDEPOT.COM, LLC 4 5.90% $11,767
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.50% $10,629
    U.S. Bank 3 6.96% $10,361
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.21% $19,260
    LOANPAL, LLC 2 5.94% $11,906
    Equity Prime Mortgage LLC 2 7.44% $9,056
    Nations Lending Corporation 2 6.69% $10,836
    Banner Bank 2 5.81% $12,788
    VERITAS FUNDING, LLC 1 6.63% $13,784
    Victorian Finance, LLC 1 5.75% $11,143
    VILLAGE CAPITAL MORTGAGE 1 6.63% $16,684
    Waterstone Mortgage Corporation 1 7.00% $11,925
    WESTMARK Credit Union 1 6.63% $7,074
    AMCAP MORTGAGE, LTD. 1 6.13% $19,336
    Willamette Valley Bank 1 6.88% $14,465
    CHURCHILL MORTGAGE CORPORATION 1 6.13% $11,906
    D. L. Evans Bank 1 6.50% $10,517
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 5.99% $14,233
    FIRST COLONY MORTGAGE CORPORATION 1 7.63% $9,400
    First Federal Savings Bank of Twin Falls 1 6.25% $13,770
    Flagstar Bank, FSB 1 7.13% $13,420
    GUARANTEED RATE, INC. 1 6.88% $14,306
    LAKEVIEW LOAN SERVICING, LLC 1 6.63% $14,957
    Mortgage Research Center, LLC 1 7.25% $382
    NP, Inc. 1 6.50% $14,113
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.00% $15,391
    Plains Commerce Bank 1 7.75% $8,435
    PLANET HOME LENDING, LLC 1 4.75% $9,695
    POINT Mortgage 1 5.38% $32,148
    PREMIA MORTGAGE, LLC 1 5.25% $5,863
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.63% $12,039
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.00% $15,235
    TJC Mortgage, Inc. 1 6.25% $17,390
    VAN DYK MORTGAGE CORPORATION 1 6.63% $10,360

    The top Twin Falls FHA lender as defined by loan originations is AXIA FINANCIAL, LLC, with 49 FHA loans originated. Their average total fees are $11,524, which is $2,266 lower than the next largest lender, CORNERSTONE HOME LENDING, INC..

    The lowest fee Twin Falls FHA lenders (with over 10 loans originated) are AXIA FINANCIAL, LLC ($11,524), GUILD MORTGAGE COMPANY ($12,169), IDAHO CENTRAL ($12,220), QUICKEN LOANS, LLC ($12,821) and NFM, INC. ($13,051).

    The lowest rate Twin Falls FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.90%), QUICKEN LOANS, LLC (5.99%), IDAHO CENTRAL (6.13%), CORNERSTONE HOME LENDING, INC. (6.37%) and PREMIER MORTGAGE RESOURCES, L.L.C. (6.51%).

    Twin Falls FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    TWIN FALLS, ID JEROME 2022 $420,680 $538,650 $651,050 $809,150
    TWIN FALLS, ID TWIN FALLS 2022 $420,680 $538,650 $651,050 $809,150
    TWIN FALLS, ID JEROME 2023 $472,030 $604,400 $730,525 $907,900
    TWIN FALLS, ID TWIN FALLS 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Twin Falls (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 $239,900 (14.3%) $296,653 (11.5%) 0.00 344
    2018-02-01 $239,900 (7.4%) $303,662 (11.4%) 0.00 307
    2018-03-01 $249,450 (10.6%) $309,121 (12.8%) 0.00 300
    2018-04-01 $244,968 (2.1%) $303,741 (6.2%) 0.00 315
    2018-05-01 $254,946 (1.3%) $318,482 (6.5%) 0.00 320
    2018-06-01 $249,000 (-0.4%) $314,078 (5.8%) 0.00 375
    2018-07-01 $244,400 (-2.0%) $305,534 (1.8%) 0.00 400
    2018-08-01 $240,325 (-3.7%) $298,885 (-0.6%) 0.00 387
    2018-09-01 $247,990 (-0.4%) $304,527 (3.0%) 0.00 388
    2018-10-01 $247,993 (1.7%) $306,243 (4.9%) 0.00 383
    2018-11-01 $252,450 (5.2%) $309,146 (5.0%) 0.00 361
    2018-12-01 $260,995 (8.8%) $313,554 (7.1%) 0.00 334
    2019-01-01 $252,475 (5.2%) $300,334 (1.2%) 0.00 313
    2019-02-01 $248,600 (3.6%) $304,094 (0.1%) 0.00 304
    2019-03-01 $258,193 (3.5%) $313,982 (1.6%) 0.00 314
    2019-04-01 $261,918 (6.9%) $322,751 (6.3%) 0.00 326
    2019-05-01 $274,750 (7.8%) $331,645 (4.1%) 0.00 342
    2019-06-01 $274,000 (10.0%) $334,647 (6.6%) 0.00 370
    2019-07-01 $264,450 (8.2%) $310,324 (1.6%) 0.00 405
    2019-08-01 $255,291 (6.2%) $308,359 (3.2%) 0.00 409
    2019-09-01 $255,127 (2.9%) $319,008 (4.8%) 0.00 402
    2019-10-01 $255,018 (2.8%) $327,928 (7.1%) 0.00 393
    2019-11-01 $258,900 (2.6%) $331,637 (7.3%) 0.00 373
    2019-12-01 $265,000 (1.5%) $339,923 (8.4%) 0.00 324
    2020-01-01 $262,475 (4.0%) $326,613 (8.8%) 0.00 303
    2020-02-01 $267,201 (7.5%) $332,440 (9.3%) 0.00 285
    2020-03-01 $281,000 (8.8%) $340,044 (8.3%) 0.00 263
    2020-04-01 $278,948 (6.5%) $336,047 (4.1%) 0.00 298
    2020-05-01 $295,000 (7.4%) $361,934 (9.1%) 0.00 269
    2020-06-01 $299,975 (9.5%) $386,243 (15.4%) 0.00 255
    2020-07-01 $301,995 (14.2%) $392,290 (26.4%) 0.00 227
    2020-08-01 $310,000 (21.4%) $400,155 (29.8%) 0.00 197
    2020-09-01 $305,365 (19.7%) $391,224 (22.6%) 0.00 172
    2020-10-01 $300,000 (17.6%) $394,030 (20.2%) 0.00 154
    2020-11-01 $334,475 (29.2%) $411,426 (24.1%) 0.00 146
    2020-12-01 $352,450 (33.0%) $425,984 (25.3%) 0.00 125
    2021-01-01 $362,900 (38.3%) $461,174 (41.2%) 0.00 105
    2021-02-01 $358,960 (34.3%) $469,438 (41.2%) 0.00 79
    2021-03-01 $370,250 (31.8%) $464,481 (36.6%) 0.00 72
    2021-04-01 $371,225 (33.1%) $478,109 (42.3%) 0.00 81
    2021-05-01 $349,950 (18.6%) $458,197 (26.6%) 0.00 99
    2021-06-01 $354,950 (18.3%) $456,821 (18.3%) 0.00 130
    2021-07-01 $350,000 (15.9%) $446,645 (13.9%) 0.00 176
    2021-08-01 $382,000 (23.2%) $482,714 (20.6%) 0.00 224
    2021-09-01 $376,125 (23.2%) $480,178 (22.7%) 0.00 208
    2021-10-01 $380,950 (27.0%) $513,570 (30.3%) 0.00 178
    2021-11-01 $406,200 (21.4%) $527,682 (28.3%) 0.00 139
    2021-12-01 $407,450 (15.6%) $536,532 (26.0%) 0.00 128
    2022-01-01 $434,800 (19.8%) $561,303 (21.7%) 0.00 120
    2022-02-01 $475,735 (32.5%) $572,139 (21.9%) 0.00 128
    2022-03-01 $469,860 (26.9%) $548,868 (18.2%) 0.00 152
    2022-04-01 $460,000 (23.9%) $518,775 (8.5%) 0.00 174
    2022-05-01 $459,900 (31.4%) $540,791 (18.0%) 0.00 225
    2022-06-01 $467,450 (31.7%) $534,709 (17.1%) 0.00 282
    2022-07-01 $455,500 (30.1%) $532,907 (19.3%) 0.00 384
    2022-08-01 $449,750 (17.7%) $530,692 (9.9%) 0.00 425
    2022-09-01 $436,750 (16.1%) $520,075 (8.3%) 0.00 449
    2022-10-01 $430,000 (12.9%) $513,969 (0.1%) 0.00 447
    2022-11-01 $429,225 (5.7%) $500,116 (-5.2%) 0.00 453
    2022-12-01 $415,000 (1.9%) $485,675 (-9.5%) 0.00 421
    2023-01-01 $417,463 (-4.0%) $485,253 (-13.6%) 0.00 388
    2023-02-01 $421,500 (-11.4%) $495,561 (-13.4%) 0.00 356
    2023-03-01 $432,498 (-8.0%) $514,653 (-6.2%) 0.00 330
    2023-04-01 $441,990 (-3.9%) $521,741 (0.6%) 0.00 330
    2023-05-01 $441,950 (-3.9%) $524,256 (-3.1%) 0.00 342
    2023-06-01 $450,600 (-3.6%) $526,284 (-1.6%) 0.00 357
    2023-07-01 $449,900 (-1.2%) $525,445 (-1.4%) 0.00 365
    2023-08-01 $443,475 (-1.4%) $536,059 (1.0%) 0.00 371
    2023-09-01 $436,000 (-0.2%) $526,672 (1.3%) 0.00 394
    2023-10-01 $416,000 (-3.3%) $506,738 (-1.4%) 0.00 401
    2023-11-01 $409,550 (-4.6%) $498,154 (-0.4%) 0.00 402
    2023-12-01 $409,900 (-1.2%) $501,692 (3.3%) 0.00 382
    2024-01-01 $402,450 (-3.6%) $504,676 (4.0%) 0.00 334
    2024-02-01 $410,000 (-2.7%) $506,656 (2.2%) 0.00 335
    2024-03-01 $409,450 (-5.3%) $502,480 (-2.4%) 0.00 329
    2024-04-01 $416,635 (-5.7%) $516,795 (-1.0%) 0.00 343
    2024-05-01 $419,900 (-5.0%) $528,887 (0.9%) 0.00 363
    2024-06-01 $429,900 (-4.6%) $529,264 (0.6%) 0.00 403
    2024-07-01 $449,950 (0.0%) $547,280 (4.2%) 0.00 431
    2024-08-01 $442,500 (-0.2%) $535,651 (-0.1%) 0.00 452
    2024-09-01 $439,900 (0.9%) $553,808 (5.2%) 0.00 476
    2024-10-01 $439,950 (5.8%) $555,146 (9.6%) 0.00 453
    Twin Falls's median listing price for 2024-10-01 was $439,950, a difference of $23,950 (5.8%) versus the prior year and $50 versus the prior month.

    Twin Falls's median listing price comes in at 0% of the national average.

    Twin Falls's average listing price for 2024-10-01 was $555,146, a difference of $48,408 (9.6%) versus the prior year and $1,338 versus the prior month.

    For the 2024-10-01 period, Twin Falls had 453 MLS listings, a difference of -23 listings (-5%) versus the prior month and 52 listings (13%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Twin Falls (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,072 sqft
    2018-02-01 0 days 2,061 sqft
    2018-03-01 0 days 2,076 sqft
    2018-04-01 0 days 2,072 sqft
    2018-05-01 0 days 2,194 sqft
    2018-06-01 0 days 2,076 sqft
    2018-07-01 0 days 2,029 sqft
    2018-08-01 0 days 1,933 sqft
    2018-09-01 0 days 1,934 sqft
    2018-10-01 0 days 1,929 sqft
    2018-11-01 0 days 1,932 sqft
    2018-12-01 0 days 2,050 sqft
    2019-01-01 0 days 1,993 sqft
    2019-02-01 0 days 1,950 sqft
    2019-03-01 0 days 1,976 sqft
    2019-04-01 0 days 1,976 sqft
    2019-05-01 0 days 2,041 sqft
    2019-06-01 0 days 2,053 sqft
    2019-07-01 0 days 1,990 sqft
    2019-08-01 0 days 1,950 sqft
    2019-09-01 0 days 1,961 sqft
    2019-10-01 0 days 1,985 sqft
    2019-11-01 0 days 2,027 sqft
    2019-12-01 0 days 2,009 sqft
    2020-01-01 0 days 2,021 sqft
    2020-02-01 0 days 2,036 sqft
    2020-03-01 0 days 2,047 sqft
    2020-04-01 0 days 2,053 sqft
    2020-05-01 0 days 2,112 sqft
    2020-06-01 0 days 2,200 sqft
    2020-07-01 0 days 2,215 sqft
    2020-08-01 0 days 2,197 sqft
    2020-09-01 0 days 2,094 sqft
    2020-10-01 0 days 2,072 sqft
    2020-11-01 0 days 2,172 sqft
    2020-12-01 0 days 2,105 sqft
    2021-01-01 0 days 2,129 sqft
    2021-02-01 0 days 2,151 sqft
    2021-03-01 0 days 2,231 sqft
    2021-04-01 0 days 2,319 sqft
    2021-05-01 0 days 2,045 sqft
    2021-06-01 0 days 1,907 sqft
    2021-07-01 0 days 1,910 sqft
    2021-08-01 0 days 1,950 sqft
    2021-09-01 0 days 1,938 sqft
    2021-10-01 0 days 2,012 sqft
    2021-11-01 0 days 2,020 sqft
    2021-12-01 0 days 1,986 sqft
    2022-01-01 0 days 2,084 sqft
    2022-02-01 0 days 2,014 sqft
    2022-03-01 0 days 1,936 sqft
    2022-04-01 0 days 1,911 sqft
    2022-05-01 0 days 1,910 sqft
    2022-06-01 0 days 1,926 sqft
    2022-07-01 0 days 1,904 sqft
    2022-08-01 0 days 1,947 sqft
    2022-09-01 0 days 1,923 sqft
    2022-10-01 0 days 1,928 sqft
    2022-11-01 0 days 1,910 sqft
    2022-12-01 0 days 1,898 sqft
    2023-01-01 0 days 1,910 sqft
    2023-02-01 0 days 1,912 sqft
    2023-03-01 0 days 2,002 sqft
    2023-04-01 0 days 2,032 sqft
    2023-05-01 0 days 2,012 sqft
    2023-06-01 0 days 2,061 sqft
    2023-07-01 0 days 2,103 sqft
    2023-08-01 0 days 2,073 sqft
    2023-09-01 0 days 2,034 sqft
    2023-10-01 0 days 1,931 sqft
    2023-11-01 0 days 1,922 sqft
    2023-12-01 0 days 1,906 sqft
    2024-01-01 0 days 1,913 sqft
    2024-02-01 0 days 1,908 sqft
    2024-03-01 0 days 1,874 sqft
    2024-04-01 0 days 1,896 sqft
    2024-05-01 0 days 1,925 sqft
    2024-06-01 0 days 1,956 sqft
    2024-07-01 0 days 2,022 sqft
    2024-08-01 0 days 2,044 sqft
    2024-09-01 0 days 1,984 sqft
    2024-10-01 0 days 1,999 sqft
    Twin Falls's median listing age (time on market) for 2024-10-01 was 0 days.

    Twin Falls's median square footage for active listings during the 2024-10-01 period was 1,999 sqft. One year prior, the average listing was 1,931 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).