Urban Honolulu FHA Loan Rates, Closing Costs & Stats

URBAN HONOLULU, HI

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.

Urban Honolulu's 47 lenders originated 332 FHA loans during 2024. The total origination value was $238,490,000, with an average FHA loan value of $718,343.

Urban Honolulu FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Urban Honolulu averaged 0.2% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

Urban Honolulu's average FHA mortgage closing costs are $16,550.

The average rate for the prior week (2025-06-13) was 6.38% and one month ago for the week of 2025-05-16, the average rate was 6.44%.

The average rate one year ago was 6.79%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.07%.

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

Urban Honolulu 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 Urban Honolulu level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
FREEDOM MORTGAGE CORPORATION 43 6.01% $19,609
UNITED WHOLESALE MORTGAGE, LLC 22 5.99% $20,000
CMG MORTGAGE, INC. 20 6.24% $20,845
LOANDEPOT.COM, LLC 17 6.16% $27,600
SECURITYNATIONAL MORTGAGE COMPANY 15 6.61% $34,010
GUARANTEED RATE, INC. 14 6.28% $19,567
GUILD MORTGAGE COMPANY 13 6.43% $22,872
Plains Commerce Bank 11 5.97% $17,857
V.I.P. MORTGAGE, INC. 10 5.95% $22,650
PLAZA HOME MORTGAGE, INC. 10 6.17% $24,239
QUICKEN LOANS, LLC 10 6.01% $19,106
HighTechLending Inc 9 6.17% $25,783
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.22% $19,194
Bank of Hawaii 7 5.88% $14,838
Century Mortgage Company DBA Century Lending Company 7 6.55% $17,943
NEWREZ LLC 6 6.06% $18,828
CROSSCOUNTRY MORTGAGE, LLC 6 6.46% $23,233
HomeStreet Bank 6 5.85% $19,568
Paramount Residential Mortgage Group, Inc. 5 6.03% $20,236
CANOPY MORTGAGE, LLC 5 6.38% $18,861
Mr. Cooper ( Nationstar Mortgage ) 3 6.04% $12,671
Ameris Bank 3 6.00% $16,911
The Loan Store, Inc. 2 5.87% $19,421
VILLAGE CAPITAL MORTGAGE 2 6.62% $8,742
AMERISAVE MORTGAGE CORPORATION 2 6.63% $33,180
Carrington Mortgage Services, LLC 2 5.63% $18,453
CITY FIRST MORTGAGE SERVICES, L.L.C. 2 6.44% $23,914
AMERICAN FINANCIAL NETWORK, INC. 2 6.81% $21,375
Mortgage Research Center, LLC 2 5.94% $19,997
LAND HOME FINANCIAL SERVICES, INC. 2 5.37% $36,209
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.44% $47,322
ZILLOW HOME LOANS, LLC 1 6.25% $15,445
GENEVA FINANCIAL, LLC 1 6.50% $17,116
DAS Acquisition Company, LLC 1 6.25% $26,374
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $15,339
MID AMERICA MORTGAGE, INC. 1 6.38% $8,079
OCMBC, INC. 1 6.13% $17,551
Pacific Lending LLC 1 5.63% $18,472
PANORAMA MORTGAGE GROUP, LLC 1 5.00% $32,816
Paramount Bank 1 5.75% $16,974
PENNYMAC LOAN SERVICES, LLC 1 5.25% $24,183
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $28,735
SUN WEST MORTGAGE COMPANY, INC. 1 5.99% $19,436
The Federal Savings Bank 1 6.25% $28,380
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $11,624
AMERICAN FINANCING CORPORATION 1 6.00% $44,482
Flagstar Bank, FSB 1 5.42% $22,314

The top Urban Honolulu FHA lender as defined by loan originations is FREEDOM MORTGAGE CORPORATION, with 43 FHA loans originated. Their average total fees are $19,609, which is $391 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Urban Honolulu FHA lenders (with over 10 loans originated) are Plains Commerce Bank ($17,857), QUICKEN LOANS, LLC ($19,106), GUARANTEED RATE, INC. ($19,567), FREEDOM MORTGAGE CORPORATION ($19,609) and UNITED WHOLESALE MORTGAGE, LLC ($20,000).

The lowest rate Urban Honolulu FHA lenders (with over 10 loans originated) are V.I.P. MORTGAGE, INC. (5.95%), Plains Commerce Bank (5.97%), UNITED WHOLESALE MORTGAGE, LLC (5.99%), QUICKEN LOANS, LLC (6.01%) and FREEDOM MORTGAGE CORPORATION (6.01%).

Urban Honolulu FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
URBAN HONOLULU, HI HONOLULU 2022 $747,500 $956,950 $1,156,700 $1,437,500
URBAN HONOLULU, HI HONOLULU 2023 $770,500 $986,400 $1,192,300 $1,481,750

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).