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 42 lenders originated 324 FHA loans during 2023. The total origination value was $276,570,000, with an average FHA loan value of $853,611.
Urban Honolulu FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Urban Honolulu
averaged
5.55%
for the week of 2024-10-11, compared to the national average (all FHA variants) of
6.1% for the same period.
Urban Honolulu's average FHA mortgage closing costs are $16,065.
The average rate for the prior week (2024-10-04) was
5.47% and
one month ago for the week of 2024-09-06, the
average rate was 5.79%.
The average rate one year ago was 6.82%.
For refis of the same type during the week of 2024-10-11, the average rate
was 5.06%.
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.
The top Urban Honolulu FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
31 FHA loans originated. Their average total fees are
$21,750, which is $3,480
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Urban Honolulu FHA lenders (with over 10 loans originated) are
Bank of Hawaii ($13,831), V.I.P. MORTGAGE, INC. ($20,515), UNITED WHOLESALE MORTGAGE, LLC ($21,750), FREEDOM MORTGAGE CORPORATION ($22,423) and QUICKEN LOANS, LLC ($25,230).
The lowest rate Urban Honolulu FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (5.84%), Bank of Hawaii (5.86%), UNITED WHOLESALE MORTGAGE, LLC (6.08%), SECURITYNATIONAL MORTGAGE COMPANY (6.10%) and V.I.P. MORTGAGE, INC. (6.12%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Urban Honolulu (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $699,000 (-4.9%) | $1,331,140 (-3.0%) | 2.59 | 2,191 |
2018-02-01 | $695,000 (-2.6%) | $1,301,012 (-4.2%) | 2.52 | 2,259 |
2018-03-01 | $695,000 (-0.2%) | $1,252,690 (-6.3%) | 2.44 | 2,343 |
2018-04-01 | $694,900 (-1.1%) | $1,229,744 (-6.2%) | 2.36 | 2,450 |
2018-05-01 | $692,000 (-4.3%) | $1,221,866 (-7.5%) | 2.31 | 2,499 |
2018-06-01 | $695,000 (-2.7%) | $1,160,573 (-10.3%) | 2.32 | 2,606 |
2018-07-01 | $692,000 (-1.0%) | $1,142,621 (-10.3%) | 2.31 | 2,746 |
2018-08-01 | $699,000 (0.0%) | $1,146,306 (-10.3%) | 2.34 | 2,755 |
2018-09-01 | $699,000 (0.6%) | $1,170,922 (-7.3%) | 2.35 | 2,775 |
2018-10-01 | $690,000 (-0.3%) | $1,154,490 (-7.9%) | 2.34 | 2,819 |
2018-11-01 | $698,257 (1.0%) | $1,145,622 (-9.1%) | 2.37 | 2,919 |
2018-12-01 | $699,000 (0.0%) | $1,157,469 (-11.6%) | 2.41 | 2,910 |
2019-01-01 | $699,000 (0.0%) | $1,152,171 (-13.4%) | 2.41 | 2,963 |
2019-02-01 | $699,000 (0.6%) | $1,131,246 (-13.1%) | 2.36 | 3,081 |
2019-03-01 | $699,214 (0.6%) | $1,146,333 (-8.5%) | 2.29 | 3,079 |
2019-04-01 | $699,214 (0.6%) | $1,164,959 (-5.3%) | 2.22 | 3,031 |
2019-05-01 | $698,500 (0.9%) | $1,155,880 (-5.4%) | 2.18 | 2,998 |
2019-06-01 | $698,500 (0.5%) | $1,150,252 (-0.9%) | 2.18 | 2,996 |
2019-07-01 | $698,000 (0.9%) | $1,152,606 (0.9%) | 2.19 | 3,113 |
2019-08-01 | $693,091 (-0.9%) | $1,158,868 (1.1%) | 2.19 | 3,106 |
2019-09-01 | $685,727 (-1.9%) | $1,162,227 (-0.7%) | 2.19 | 3,115 |
2019-10-01 | $679,500 (-1.5%) | $1,164,467 (0.9%) | 2.19 | 3,115 |
2019-11-01 | $668,000 (-4.3%) | $1,157,569 (1.0%) | 2.19 | 3,032 |
2019-12-01 | $662,500 (-5.2%) | $1,186,499 (2.5%) | 2.21 | 2,863 |
2020-01-01 | $649,450 (-7.1%) | $1,168,819 (1.4%) | 2.17 | 2,726 |
2020-02-01 | $638,000 (-8.7%) | $1,143,925 (1.1%) | 2.09 | 2,780 |
2020-03-01 | $625,000 (-10.6%) | $1,137,009 (-0.8%) | 1.96 | 2,839 |
2020-04-01 | $604,500 (-13.6%) | $1,110,263 (-4.7%) | 1.89 | 2,831 |
2020-05-01 | $610,000 (-12.7%) | $1,087,870 (-5.9%) | 1.85 | 2,827 |
2020-06-01 | $629,000 (-10.0%) | $1,104,349 (-4.0%) | 1.85 | 2,794 |
2020-07-01 | $621,250 (-11.0%) | $1,127,585 (-2.2%) | 1.80 | 2,591 |
2020-08-01 | $600,000 (-13.4%) | $1,136,252 (-2.0%) | 1.72 | 2,579 |
2020-09-01 | $598,500 (-12.7%) | $1,127,838 (-3.0%) | 1.71 | 2,459 |
2020-10-01 | $595,000 (-12.4%) | $1,157,577 (-0.6%) | 1.70 | 2,434 |
2020-11-01 | $597,500 (-10.6%) | $1,173,448 (1.4%) | 1.75 | 2,368 |
2020-12-01 | $581,750 (-12.2%) | $1,190,127 (0.3%) | 1.73 | 2,438 |
2021-01-01 | $573,250 (-11.7%) | $1,221,455 (4.5%) | 1.71 | 2,368 |
2021-02-01 | $547,500 (-14.2%) | $1,237,714 (8.2%) | 1.59 | 1,900 |
2021-03-01 | $572,500 (-8.4%) | $1,266,540 (11.4%) | 1.62 | 1,815 |
2021-04-01 | $599,000 (-0.9%) | $1,295,716 (16.7%) | 1.62 | 1,741 |
2021-05-01 | $625,000 (2.5%) | $1,415,112 (30.1%) | 1.66 | 1,581 |
2021-06-01 | $675,000 (7.3%) | $1,411,373 (27.8%) | 1.78 | 1,571 |
2021-07-01 | $697,400 (12.3%) | $1,424,694 (26.4%) | 1.84 | 1,568 |
2021-08-01 | $712,500 (18.8%) | $1,468,837 (29.3%) | 1.90 | 1,473 |
2021-09-01 | $719,250 (20.2%) | $1,444,997 (28.1%) | 1.92 | 1,514 |
2021-10-01 | $716,500 (20.4%) | $1,384,855 (19.6%) | 1.91 | 1,576 |
2021-11-01 | $717,500 (20.1%) | $1,390,971 (18.5%) | 1.92 | 1,571 |
2021-12-01 | $696,500 (19.7%) | $1,401,938 (17.8%) | 1.89 | 1,489 |
2022-01-01 | $695,000 (21.2%) | $1,395,284 (14.2%) | 1.88 | 1,391 |
2022-02-01 | $696,750 (27.3%) | $1,351,223 (9.2%) | 1.81 | 1,429 |
2022-03-01 | $726,750 (26.9%) | $1,376,135 (8.7%) | 1.82 | 1,367 |
2022-04-01 | $775,000 (29.4%) | $1,405,561 (8.5%) | 1.85 | 1,372 |
2022-05-01 | $809,000 (29.4%) | $1,425,422 (0.7%) | 1.85 | 1,471 |
2022-06-01 | $841,750 (24.7%) | $1,414,040 (0.2%) | 1.87 | 1,529 |
2022-07-01 | $850,000 (21.9%) | $1,408,410 (-1.1%) | 1.91 | 1,687 |
2022-08-01 | $850,000 (19.3%) | $1,395,229 (-5.0%) | 1.96 | 1,755 |
2022-09-01 | $838,250 (16.6%) | $1,382,291 (-4.3%) | 1.96 | 1,779 |
2022-10-01 | $830,000 (15.8%) | $1,330,863 (-3.9%) | 1.95 | 1,935 |
2022-11-01 | $819,750 (14.3%) | $1,316,224 (-5.4%) | 1.97 | 2,040 |
2022-12-01 | $819,500 (17.7%) | $1,328,757 (-5.2%) | 2.02 | 2,043 |
2023-01-01 | $813,500 (17.1%) | $1,334,268 (-4.4%) | 2.02 | 2,128 |
2023-02-01 | $781,250 (12.1%) | $1,253,202 (-7.3%) | 1.89 | 2,451 |
2023-03-01 | $789,222 (8.6%) | $1,233,520 (-10.4%) | 1.86 | 2,512 |
2023-04-01 | $799,900 (3.2%) | $1,371,056 (-2.5%) | 1.86 | 1,805 |
2023-05-01 | $811,500 (0.3%) | $1,362,620 (-4.4%) | 1.84 | 1,777 |
2023-06-01 | $824,018 (-2.1%) | $1,393,489 (-1.5%) | 1.85 | 1,811 |
2023-07-01 | $827,000 (-2.7%) | $1,391,699 (-1.2%) | 1.88 | 1,840 |
2023-08-01 | $822,500 (-3.2%) | $1,379,907 (-1.1%) | 1.89 | 1,858 |
2023-09-01 | $820,000 (-2.2%) | $1,379,356 (-0.2%) | 1.91 | 1,862 |
2023-10-01 | $798,750 (-3.8%) | $1,361,328 (2.3%) | 1.88 | 1,970 |
2023-11-01 | $799,000 (-2.5%) | $1,354,828 (2.9%) | 1.90 | 2,077 |
2023-12-01 | $795,500 (-2.9%) | $1,392,029 (4.8%) | 1.94 | 2,107 |
2024-01-01 | $789,500 (-3.0%) | $1,378,053 (3.3%) | 1.93 | 2,054 |
2024-02-01 | $789,750 (1.1%) | $1,367,011 (9.1%) | 1.90 | 2,074 |
2024-03-01 | $750,000 (-5.0%) | $1,327,164 (7.6%) | 1.77 | 2,197 |
2024-04-01 | $744,000 (-7.0%) | $1,322,934 (-3.5%) | 1.73 | 2,243 |
2024-05-01 | $727,000 (-10.4%) | $1,316,710 (-3.4%) | 1.64 | 2,359 |
2024-06-01 | $725,000 (-12.0%) | $1,295,373 (-7.0%) | 1.63 | 2,441 |
2024-07-01 | $731,500 (-11.6%) | $1,241,413 (-10.8%) | 1.67 | 2,638 |
2024-08-01 | $725,000 (-11.9%) | $1,240,712 (-10.1%) | 1.69 | 2,740 |
2024-09-01 | $712,500 (-13.1%) | $1,230,468 (-10.8%) | 1.68 | 2,792 |
Urban Honolulu's median listing price comes in at 168% of the national average.
Urban Honolulu's average listing price for 2024-09-01 was $1,230,468, a difference of $-148,888 (-10.8%) versus the prior year and $-10,244 versus the prior month.
For the 2024-09-01 period, Urban Honolulu had 2,792 MLS listings, a difference of 52 listings (2%) versus the prior month and 930 listings (50%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Urban Honolulu (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 66 days | 1,253 sqft |
2018-02-01 | 52 days | 1,250 sqft |
2018-03-01 | 50 days | 1,244 sqft |
2018-04-01 | 51 days | 1,263 sqft |
2018-05-01 | 53 days | 1,263 sqft |
2018-06-01 | 54 days | 1,269 sqft |
2018-07-01 | 54 days | 1,273 sqft |
2018-08-01 | 56 days | 1,294 sqft |
2018-09-01 | 60 days | 1,278 sqft |
2018-10-01 | 64 days | 1,265 sqft |
2018-11-01 | 63 days | 1,271 sqft |
2018-12-01 | 68 days | 1,248 sqft |
2019-01-01 | 65 days | 1,228 sqft |
2019-02-01 | 59 days | 1,212 sqft |
2019-03-01 | 55 days | 1,224 sqft |
2019-04-01 | 57 days | 1,238 sqft |
2019-05-01 | 56 days | 1,252 sqft |
2019-06-01 | 56 days | 1,244 sqft |
2019-07-01 | 54 days | 1,228 sqft |
2019-08-01 | 57 days | 1,214 sqft |
2019-09-01 | 61 days | 1,193 sqft |
2019-10-01 | 64 days | 1,176 sqft |
2019-11-01 | 66 days | 1,149 sqft |
2019-12-01 | 74 days | 1,144 sqft |
2020-01-01 | 76 days | 1,115 sqft |
2020-02-01 | 69 days | 1,107 sqft |
2020-03-01 | 61 days | 1,098 sqft |
2020-04-01 | 71 days | 1,058 sqft |
2020-05-01 | 82 days | 1,040 sqft |
2020-06-01 | 91 days | 1,030 sqft |
2020-07-01 | 83 days | 1,002 sqft |
2020-08-01 | 75 days | 985 sqft |
2020-09-01 | 73 days | 959 sqft |
2020-10-01 | 74 days | 977 sqft |
2020-11-01 | 77 days | 963 sqft |
2020-12-01 | 85 days | 957 sqft |
2021-01-01 | 101 days | 934 sqft |
2021-02-01 | 73 days | 892 sqft |
2021-03-01 | 60 days | 899 sqft |
2021-04-01 | 59 days | 932 sqft |
2021-05-01 | 53 days | 984 sqft |
2021-06-01 | 45 days | 1,017 sqft |
2021-07-01 | 44 days | 1,047 sqft |
2021-08-01 | 46 days | 1,048 sqft |
2021-09-01 | 43 days | 1,046 sqft |
2021-10-01 | 41 days | 1,032 sqft |
2021-11-01 | 44 days | 1,000 sqft |
2021-12-01 | 52 days | 952 sqft |
2022-01-01 | 58 days | 927 sqft |
2022-02-01 | 45 days | 938 sqft |
2022-03-01 | 44 days | 976 sqft |
2022-04-01 | 42 days | 1,040 sqft |
2022-05-01 | 36 days | 1,078 sqft |
2022-06-01 | 39 days | 1,134 sqft |
2022-07-01 | 41 days | 1,158 sqft |
2022-08-01 | 46 days | 1,168 sqft |
2022-09-01 | 49 days | 1,136 sqft |
2022-10-01 | 50 days | 1,140 sqft |
2022-11-01 | 53 days | 1,141 sqft |
2022-12-01 | 64 days | 1,131 sqft |
2023-01-01 | 68 days | 1,130 sqft |
2023-02-01 | 64 days | 1,123 sqft |
2023-03-01 | 60 days | 1,113 sqft |
2023-04-01 | 64 days | 1,082 sqft |
2023-05-01 | 59 days | 1,104 sqft |
2023-06-01 | 58 days | 1,120 sqft |
2023-07-01 | 59 days | 1,130 sqft |
2023-08-01 | 61 days | 1,117 sqft |
2023-09-01 | 58 days | 1,131 sqft |
2023-10-01 | 54 days | 1,123 sqft |
2023-11-01 | 56 days | 1,107 sqft |
2023-12-01 | 62 days | 1,077 sqft |
2024-01-01 | 72 days | 1,081 sqft |
2024-02-01 | 68 days | 1,067 sqft |
2024-03-01 | 60 days | 1,045 sqft |
2024-04-01 | 58 days | 1,041 sqft |
2024-05-01 | 54 days | 1,023 sqft |
2024-06-01 | 57 days | 1,016 sqft |
2024-07-01 | 61 days | 1,027 sqft |
2024-08-01 | 63 days | 1,031 sqft |
2024-09-01 | 66 days | 1,029 sqft |
Urban Honolulu's median square footage for active listings during the 2024-09-01 period was 1,029 sqft. One year prior, the average listing was 1,131 sqft.