Twin Falls FHA Loan Rates, Closing Costs & Stats

TWIN FALLS, ID

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 -0.14% for the week of 2024-11-29, 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 (2024-11-22) was 6.45% and one month ago for the week of 2024-10-25, the average rate was 6.03%.

The average rate one year ago was 6.62%.

For refis of the same type during the week of 2024-11-29, the average rate was -0.02%.

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).