Ukiah FHA Loan Rates, Closing Costs & Stats

Ukiah, CA

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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.

    Ukiah's 27 lenders originated 76 FHA loans during 2023. The total origination value was $29,230,000, with an average FHA loan value of $384,605.

    Ukiah FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Ukiah averaged 6.8% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Ukiah's average FHA mortgage closing costs are $11,508.

    The average rate for the prior week (2024-04-12) was 6.89% and one month ago for the week of 2024-03-15, the average rate was 6.85%.

    The average rate one year ago was 6.18%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Ukiah 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 Ukiah level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 15 6.24% $19,737
    QUICKEN LOANS, LLC 7 6.07% $16,705
    LOANDEPOT.COM, LLC 4 6.94% $16,653
    EVERETT FINANCIAL, INC. 4 6.19% $21,504
    SUMMIT FUNDING, INC. 3 7.17% $17,428
    MASON MCDUFFIE MORTGAGE CORPORATION 3 6.71% $21,304
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.00% $14,891
    PENNYMAC LOAN SERVICES, LLC 3 5.96% $13,567
    AMERICAN FINANCIAL NETWORK, INC. 2 5.75% $17,170
    Century Mortgage Company DBA Century Lending Company 2 6.50% $14,114
    CROSSCOUNTRY MORTGAGE, LLC 2 6.44% $20,998
    Princeton Mortgage Corporation 2 6.44% $13,612
    Sierra Pacific Mortgage Company, Inc. 2 6.06% $14,156
    OCMBC, INC. 1 7.13% $15,770
    ON Q FINANCIAL, INC. 1 5.25% $16,681
    Paramount Residential Mortgage Group, Inc. 1 7.63% $14,020
    MICHIGAN MUTUAL, INC. 1 5.00% $12,684
    PREMIER LENDING, INC. 1 6.88% $18,691
    Umpqua Bank 1 6.00% $14,291
    GUILD MORTGAGE COMPANY 1 4.75% $15,197
    RANLIFE, INC. 1 6.25% $17,122
    RESIDENTIAL BANCORP 1 5.50% $17,455
    SCHOOLSFIRST 1 6.75% $8,880
    American Mortgage & Equity Consultants, Inc. 1 6.25% $17,753
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.50% $9,570
    MOUNTAIN WEST FINANCIAL, INC. 1 5.50% $17,797
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $20,154

    The top Ukiah FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 15 FHA loans originated. Their average total fees are $19,737, which is $3,032 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Ukiah FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($19,737), .

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

    Ukiah FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    UKIAH, CA MENDOCINO 2022 $506,000 $647,750 $783,000 $973,100
    UKIAH, CA MENDOCINO 2023 $546,250 $699,300 $845,300 $1,050,500

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Ukiah (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 $598,000 (1.6%) $870,697 (-4.1%) 0.00 283
    2018-02-01 $595,000 (4.9%) $839,095 (-7.7%) 0.00 304
    2018-03-01 $579,000 (6.3%) $876,058 (3.4%) 0.00 338
    2018-04-01 $586,000 (7.5%) $881,421 (6.2%) 0.00 358
    2018-05-01 $599,000 (6.0%) $905,836 (14.1%) 0.00 460
    2018-06-01 $599,900 (4.4%) $892,717 (12.4%) 0.00 477
    2018-07-01 $619,225 (5.1%) $883,148 (1.1%) 0.00 498
    2018-08-01 $631,000 (10.3%) $880,343 (2.5%) 0.00 494
    2018-09-01 $619,000 (3.7%) $874,224 (0.8%) 0.00 494
    2018-10-01 $617,000 (-1.3%) $867,083 (-1.7%) 0.00 481
    2018-11-01 $599,000 (-4.8%) $857,865 (-5.0%) 0.00 459
    2018-12-01 $585,000 (-4.0%) $849,778 (-3.0%) 0.00 444
    2019-01-01 $577,000 (-3.5%) $858,828 (-1.4%) 0.00 415
    2019-02-01 $590,000 (-0.8%) $865,521 (3.2%) 0.00 413
    2019-03-01 $597,143 (3.1%) $900,851 (2.8%) 0.00 413
    2019-04-01 $595,000 (1.5%) $900,652 (2.2%) 0.00 416
    2019-05-01 $599,000 (0.0%) $914,550 (1.0%) 0.00 449
    2019-06-01 $595,000 (-0.8%) $911,471 (2.1%) 0.00 472
    2019-07-01 $595,000 (-3.9%) $928,337 (5.1%) 0.00 463
    2019-08-01 $599,000 (-5.1%) $942,158 (7.0%) 0.00 449
    2019-09-01 $599,000 (-3.2%) $944,781 (8.1%) 0.00 427
    2019-10-01 $599,000 (-2.9%) $951,639 (9.8%) 0.00 405
    2019-11-01 $599,400 (0.1%) $999,676 (16.5%) 0.00 375
    2019-12-01 $606,700 (3.7%) $993,778 (17.0%) 0.00 336
    2020-01-01 $595,000 (3.1%) $987,541 (15.0%) 0.00 302
    2020-02-01 $622,500 (5.5%) $993,793 (14.8%) 0.00 297
    2020-03-01 $627,375 (5.1%) $972,270 (7.9%) 0.00 295
    2020-04-01 $632,250 (6.3%) $988,886 (9.8%) 0.00 280
    2020-05-01 $639,000 (6.7%) $985,365 (7.7%) 0.00 280
    2020-06-01 $646,000 (8.6%) $1,017,797 (11.7%) 0.00 283
    2020-07-01 $663,750 (11.6%) $1,067,384 (15.0%) 0.00 218
    2020-08-01 $707,500 (18.1%) $1,124,653 (19.4%) 0.00 191
    2020-09-01 $799,000 (33.4%) $1,247,188 (32.0%) 0.00 189
    2020-10-01 $783,000 (30.7%) $1,257,342 (32.1%) 0.00 188
    2020-11-01 $761,250 (27.0%) $1,262,940 (26.3%) 0.00 176
    2020-12-01 $773,250 (27.5%) $1,203,372 (21.1%) 0.00 154
    2021-01-01 $750,000 (26.1%) $1,246,091 (26.2%) 0.00 131
    2021-02-01 $816,738 (31.2%) $1,378,527 (38.7%) 0.00 123
    2021-03-01 $850,000 (35.5%) $1,308,031 (34.5%) 0.00 125
    2021-04-01 $850,000 (34.4%) $1,345,470 (36.1%) 0.00 146
    2021-05-01 $762,500 (19.3%) $1,259,615 (27.8%) 0.00 167
    2021-06-01 $747,250 (15.7%) $1,210,290 (18.9%) 0.00 173
    2021-07-01 $780,000 (17.5%) $1,261,556 (18.2%) 0.00 170
    2021-08-01 $766,750 (8.4%) $1,314,431 (16.9%) 0.00 184
    2021-09-01 $699,000 (-12.5%) $1,241,541 (-0.5%) 0.00 195
    2021-10-01 $747,500 (-4.5%) $1,270,457 (1.0%) 0.00 212
    2021-11-01 $760,000 (-0.2%) $1,265,531 (0.2%) 0.00 208
    2021-12-01 $757,500 (-2.0%) $1,352,786 (12.4%) 0.00 194
    2022-01-01 $769,000 (2.5%) $1,345,697 (8.0%) 0.00 176
    2022-02-01 $749,500 (-8.2%) $1,321,939 (-4.1%) 0.00 188
    2022-03-01 $712,000 (-16.2%) $1,223,796 (-6.4%) 0.00 199
    2022-04-01 $699,000 (-17.8%) $1,140,623 (-15.2%) 0.00 244
    2022-05-01 $673,750 (-11.6%) $1,086,147 (-13.8%) 0.00 271
    2022-06-01 $660,750 (-11.6%) $1,068,989 (-11.7%) 0.00 300
    2022-07-01 $637,000 (-18.3%) $996,796 (-21.0%) 0.00 324
    2022-08-01 $612,500 (-20.1%) $970,995 (-26.1%) 0.00 313
    2022-09-01 $627,000 (-10.3%) $1,032,529 (-16.8%) 0.00 309
    2022-10-01 $620,000 (-17.1%) $1,039,799 (-18.2%) 0.00 312
    2022-11-01 $600,000 (-21.1%) $1,012,807 (-20.0%) 0.00 295
    2022-12-01 $599,000 (-20.9%) $950,609 (-29.7%) 0.00 274
    2023-01-01 $607,500 (-21.0%) $903,073 (-32.9%) 0.00 228
    2023-02-01 $599,000 (-20.1%) $999,169 (-24.4%) 0.00 218
    2023-03-01 $598,000 (-16.0%) $1,015,964 (-17.0%) 0.00 223
    2023-04-01 $609,500 (-12.8%) $1,013,407 (-11.2%) 0.00 250
    2023-05-01 $643,500 (-4.5%) $1,028,224 (-5.3%) 0.00 279
    2023-06-01 $617,500 (-6.6%) $1,015,585 (-5.0%) 0.00 303
    2023-07-01 $649,000 (1.9%) $1,010,352 (1.4%) 0.00 309
    2023-08-01 $677,125 (10.6%) $1,028,172 (5.9%) 0.00 314
    2023-09-01 $699,000 (11.5%) $1,069,083 (3.5%) 0.00 326
    2023-10-01 $699,000 (12.7%) $1,082,400 (4.1%) 0.00 326
    2023-11-01 $699,000 (16.5%) $1,080,578 (6.7%) 0.00 318
    2023-12-01 $675,000 (12.7%) $1,101,137 (15.8%) 0.00 298
    2024-01-01 $682,250 (12.3%) $1,089,032 (20.6%) 0.00 263
    2024-02-01 $688,250 (14.9%) $1,039,284 (4.0%) 0.00 253
    2024-03-01 $695,000 (16.2%) $1,042,186 (2.6%) 0.00 250
    Ukiah's median listing price for 2024-03-01 was $695,000, a difference of $97,000 (16.2%) versus the prior year and $6,750 versus the prior month.

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

    Ukiah's average listing price for 2024-03-01 was $1,042,186, a difference of $26,222 (2.6%) versus the prior year and $2,902 versus the prior month.

    For the 2024-03-01 period, Ukiah had 250 MLS listings, a difference of -3 listings (-1%) versus the prior month and 27 listings (12%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Ukiah (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,757 sqft
    2018-02-01 0 days 1,720 sqft
    2018-03-01 0 days 1,723 sqft
    2018-04-01 0 days 1,719 sqft
    2018-05-01 0 days 1,700 sqft
    2018-06-01 0 days 1,722 sqft
    2018-07-01 0 days 1,700 sqft
    2018-08-01 0 days 1,713 sqft
    2018-09-01 0 days 1,700 sqft
    2018-10-01 0 days 1,700 sqft
    2018-11-01 0 days 1,680 sqft
    2018-12-01 0 days 1,680 sqft
    2019-01-01 0 days 1,632 sqft
    2019-02-01 0 days 1,625 sqft
    2019-03-01 0 days 1,641 sqft
    2019-04-01 0 days 1,638 sqft
    2019-05-01 0 days 1,688 sqft
    2019-06-01 0 days 1,660 sqft
    2019-07-01 0 days 1,686 sqft
    2019-08-01 0 days 1,704 sqft
    2019-09-01 0 days 1,709 sqft
    2019-10-01 0 days 1,713 sqft
    2019-11-01 0 days 1,716 sqft
    2019-12-01 0 days 1,728 sqft
    2020-01-01 0 days 1,732 sqft
    2020-02-01 0 days 1,800 sqft
    2020-03-01 0 days 1,705 sqft
    2020-04-01 0 days 1,676 sqft
    2020-05-01 0 days 1,700 sqft
    2020-06-01 0 days 1,761 sqft
    2020-07-01 0 days 1,820 sqft
    2020-08-01 0 days 1,900 sqft
    2020-09-01 0 days 1,935 sqft
    2020-10-01 0 days 1,848 sqft
    2020-11-01 0 days 1,852 sqft
    2020-12-01 0 days 1,849 sqft
    2021-01-01 0 days 1,800 sqft
    2021-02-01 0 days 1,831 sqft
    2021-03-01 0 days 1,867 sqft
    2021-04-01 0 days 1,898 sqft
    2021-05-01 0 days 1,776 sqft
    2021-06-01 0 days 1,693 sqft
    2021-07-01 0 days 1,644 sqft
    2021-08-01 0 days 1,653 sqft
    2021-09-01 0 days 1,600 sqft
    2021-10-01 0 days 1,689 sqft
    2021-11-01 0 days 1,752 sqft
    2021-12-01 0 days 1,778 sqft
    2022-01-01 0 days 1,800 sqft
    2022-02-01 0 days 1,669 sqft
    2022-03-01 0 days 1,673 sqft
    2022-04-01 0 days 1,666 sqft
    2022-05-01 0 days 1,636 sqft
    2022-06-01 0 days 1,597 sqft
    2022-07-01 0 days 1,600 sqft
    2022-08-01 0 days 1,608 sqft
    2022-09-01 0 days 1,675 sqft
    2022-10-01 0 days 1,700 sqft
    2022-11-01 0 days 1,683 sqft
    2022-12-01 0 days 1,648 sqft
    2023-01-01 0 days 1,695 sqft
    2023-02-01 0 days 1,597 sqft
    2023-03-01 0 days 1,584 sqft
    2023-04-01 0 days 1,600 sqft
    2023-05-01 0 days 1,685 sqft
    2023-06-01 0 days 1,650 sqft
    2023-07-01 0 days 1,700 sqft
    2023-08-01 0 days 1,705 sqft
    2023-09-01 0 days 1,764 sqft
    2023-10-01 0 days 1,775 sqft
    2023-11-01 0 days 1,776 sqft
    2023-12-01 0 days 1,723 sqft
    2024-01-01 0 days 1,736 sqft
    2024-02-01 0 days 1,772 sqft
    2024-03-01 0 days 1,800 sqft
    Ukiah's median listing age (time on market) for 2024-03-01 was 0 days.

    Ukiah's median square footage for active listings during the 2024-03-01 period was 1,800 sqft. One year prior, the average listing was 1,584 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).