Urban Honolulu FHA Loans
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 53 lenders originated 771 FHA loans during 2021. The total origination value was $341,095,000, with an average FHA loan value of $442,406.
Urban Honolulu FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Urban Honolulu
averaged
4.98%
for the week of 2022-05-13, compared to the national average (all FHA variants) of
5.361% for the same period.
The average rate for the prior week (2022-05-06) was
5.21% and
one month ago for the week of 2022-04-08, the
average rate was 4.47%.
The average rate one year ago was 2.98%.
For refis of the same type during the week of 2022-05-13, the average rate
was 4.99%.
Urban Honolulu FHA Loan Lenders by Rates & Fees
The below table looks at the average fees 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 FREEDOM MORTGAGE CORPORATION, with
61 FHA loans originated. Their average total fees are
$15,275, which is $3,410
higher than the next largest lender,
HomeStreet Bank.
The lowest fee Urban Honolulu FHA lenders (with over 10 loans originated) are
MID AMERICA MORTGAGE, INC. ($3,440), Mr. Cooper ( Nationstar Mortgage ) ($10,564), PENNYMAC LOAN SERVICES, LLC ($11,570), HomeStreet Bank ($11,865) and Bank of Hawaii ($12,549).
The lowest rate Urban Honolulu FHA lenders (with over 10 loans originated) are
HomeStreet Bank (2.38%), FREEDOM MORTGAGE CORPORATION (2.56%), QUICKEN LOANS, LLC (2.57%), HOME POINT FINANCIAL CORPORATION (2.59%) and AMERICAN PACIFIC MORTGAGE CORPORATION (2.59%).
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 |
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 (-5.2%) | $1,327,936 (-3.8%) | 2.57 | 2,203 |
2018-02-01 | $692,000 (-3.2%) | $1,295,750 (-5.0%) | 2.50 | 2,271 |
2018-03-01 | $689,900 (-1.0%) | $1,249,314 (-6.9%) | 2.39 | 2,357 |
2018-04-01 | $692,500 (-2.5%) | $1,230,491 (-6.5%) | 2.32 | 2,460 |
2018-05-01 | $692,000 (-4.2%) | $1,223,174 (-7.2%) | 2.31 | 2,510 |
2018-06-01 | $695,000 (-2.8%) | $1,160,197 (-10.6%) | 2.32 | 2,628 |
2018-07-01 | $689,500 (-1.4%) | $1,148,505 (-9.8%) | 2.30 | 2,768 |
2018-08-01 | $699,000 (0.0%) | $1,151,124 (-10.0%) | 2.34 | 2,781 |
2018-09-01 | $699,000 (0.6%) | $1,182,673 (-6.4%) | 2.34 | 2,810 |
2018-10-01 | $692,500 (0.4%) | $1,164,525 (-7.0%) | 2.32 | 2,853 |
2018-11-01 | $698,500 (1.2%) | $1,152,131 (-8.5%) | 2.34 | 2,956 |
2018-12-01 | $699,000 (0.0%) | $1,162,450 (-11.0%) | 2.39 | 2,946 |
2019-01-01 | $699,000 (0.0%) | $1,153,588 (-13.1%) | 2.41 | 2,996 |
2019-02-01 | $699,000 (1.0%) | $1,130,158 (-12.8%) | 2.34 | 3,124 |
2019-03-01 | $699,000 (1.3%) | $1,144,875 (-8.4%) | 2.28 | 3,111 |
2019-04-01 | $699,000 (0.9%) | $1,162,474 (-5.5%) | 2.20 | 3,050 |
2019-05-01 | $698,000 (0.9%) | $1,158,836 (-5.3%) | 2.15 | 3,024 |
2019-06-01 | $699,000 (0.6%) | $1,150,769 (-0.8%) | 2.15 | 3,018 |
2019-07-01 | $698,000 (1.2%) | $1,145,087 (-0.3%) | 2.17 | 3,138 |
2019-08-01 | $694,143 (-0.7%) | $1,148,944 (-0.2%) | 2.18 | 3,101 |
2019-09-01 | $688,944 (-1.4%) | $1,151,527 (-2.6%) | 2.19 | 3,092 |
2019-10-01 | $677,500 (-2.2%) | $1,158,452 (-0.5%) | 2.16 | 3,144 |
2019-11-01 | $668,000 (-4.4%) | $1,161,736 (0.8%) | 2.16 | 3,066 |
2019-12-01 | $662,500 (-5.2%) | $1,186,230 (2.1%) | 2.21 | 2,888 |
2020-01-01 | $649,404 (-7.1%) | $1,168,245 (1.3%) | 2.17 | 2,745 |
2020-02-01 | $635,808 (-9.0%) | $1,142,519 (1.1%) | 2.05 | 2,800 |
2020-03-01 | $625,000 (-10.6%) | $1,135,749 (-0.8%) | 1.95 | 2,858 |
2020-04-01 | $609,000 (-12.9%) | $1,110,991 (-4.4%) | 1.90 | 2,849 |
2020-05-01 | $610,000 (-12.6%) | $1,093,641 (-5.6%) | 1.85 | 2,836 |
2020-06-01 | $629,000 (-10.0%) | $1,109,028 (-3.6%) | 1.84 | 2,795 |
2020-07-01 | $622,500 (-10.8%) | $1,134,619 (-0.9%) | 1.78 | 2,598 |
2020-08-01 | $605,000 (-12.8%) | $1,135,838 (-1.1%) | 1.73 | 2,584 |
2020-09-01 | $598,500 (-13.1%) | $1,134,794 (-1.5%) | 1.71 | 2,471 |
2020-10-01 | $598,000 (-11.7%) | $1,161,782 (0.3%) | 1.71 | 2,444 |
2020-11-01 | $599,250 (-10.3%) | $1,177,701 (1.4%) | 1.72 | 2,381 |
2020-12-01 | $582,500 (-12.1%) | $1,196,601 (0.9%) | 1.71 | 2,493 |
2021-01-01 | $570,000 (-12.2%) | $1,217,076 (4.2%) | 1.68 | 2,480 |
2021-02-01 | $549,500 (-13.6%) | $1,249,220 (9.3%) | 1.58 | 1,908 |
2021-03-01 | $572,000 (-8.5%) | $1,273,383 (12.1%) | 1.60 | 1,820 |
2021-04-01 | $597,000 (-2.0%) | $1,306,664 (17.6%) | 1.60 | 1,748 |
2021-05-01 | $625,000 (2.5%) | $1,430,043 (30.8%) | 1.65 | 1,584 |
2021-06-01 | $675,000 (7.3%) | $1,419,129 (28.0%) | 1.75 | 1,570 |
2021-07-01 | $687,500 (10.4%) | $1,405,892 (23.9%) | 1.79 | 1,578 |
2021-08-01 | $697,000 (15.2%) | $1,120,400 (-1.4%) | 1.83 | 3,199 |
2021-09-01 | $699,000 (16.8%) | $1,122,256 (-1.1%) | 1.84 | 3,178 |
2021-10-01 | $699,000 (16.9%) | $1,112,364 (-4.3%) | 1.84 | 3,182 |
2021-11-01 | $709,500 (18.4%) | $1,395,737 (18.5%) | 1.87 | 1,578 |
2021-12-01 | $692,000 (18.8%) | $1,404,101 (17.3%) | 1.85 | 1,498 |
2022-01-01 | $685,000 (20.2%) | $1,385,208 (13.8%) | 1.83 | 1,396 |
2022-02-01 | $691,500 (25.8%) | $1,348,366 (7.9%) | 1.76 | 1,428 |
2022-03-01 | $720,000 (25.9%) | $1,373,683 (7.9%) | 1.78 | 1,368 |
2022-04-01 | $770,000 (29.0%) | $1,402,464 (7.3%) | 1.81 | 1,368 |
Urban Honolulu's median listing price comes in at 181% of the national average.
Urban Honolulu's average listing price for 2022-04-01 was $1,402,464, a difference of $95,800 (7.3%) versus the prior year and $28,781 versus the prior month.
For the 2022-04-01 period, Urban Honolulu had 1,368 MLS listings, a difference of 0 listings (0%) versus the prior month and -380 listings (-22%) 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 | 67 days | 1,253 sqft |
2018-02-01 | 54 days | 1,248 sqft |
2018-03-01 | 51 days | 1,242 sqft |
2018-04-01 | 52 days | 1,262 sqft |
2018-05-01 | 54 days | 1,262 sqft |
2018-06-01 | 55 days | 1,271 sqft |
2018-07-01 | 56 days | 1,274 sqft |
2018-08-01 | 58 days | 1,294 sqft |
2018-09-01 | 61 days | 1,280 sqft |
2018-10-01 | 65 days | 1,269 sqft |
2018-11-01 | 65 days | 1,269 sqft |
2018-12-01 | 71 days | 1,243 sqft |
2019-01-01 | 67 days | 1,230 sqft |
2019-02-01 | 61 days | 1,215 sqft |
2019-03-01 | 58 days | 1,224 sqft |
2019-04-01 | 58 days | 1,235 sqft |
2019-05-01 | 57 days | 1,255 sqft |
2019-06-01 | 56 days | 1,243 sqft |
2019-07-01 | 56 days | 1,227 sqft |
2019-08-01 | 59 days | 1,211 sqft |
2019-09-01 | 62 days | 1,189 sqft |
2019-10-01 | 64 days | 1,175 sqft |
2019-11-01 | 67 days | 1,149 sqft |
2019-12-01 | 75 days | 1,144 sqft |
2020-01-01 | 78 days | 1,113 sqft |
2020-02-01 | 71 days | 1,101 sqft |
2020-03-01 | 60 days | 1,098 sqft |
2020-04-01 | 70 days | 1,057 sqft |
2020-05-01 | 84 days | 1,043 sqft |
2020-06-01 | 93 days | 1,031 sqft |
2020-07-01 | 88 days | 1,003 sqft |
2020-08-01 | 80 days | 983 sqft |
2020-09-01 | 79 days | 959 sqft |
2020-10-01 | 78 days | 978 sqft |
2020-11-01 | 84 days | 966 sqft |
2020-12-01 | 89 days | 966 sqft |
2021-01-01 | 106 days | 938 sqft |
2021-02-01 | 83 days | 895 sqft |
2021-03-01 | 67 days | 898 sqft |
2021-04-01 | 66 days | 933 sqft |
2021-05-01 | 63 days | 984 sqft |
2021-06-01 | 51 days | 1,021 sqft |
2021-07-01 | 48 days | 1,037 sqft |
2021-08-01 | 47 days | 1,145 sqft |
2021-09-01 | 45 days | 1,146 sqft |
2021-10-01 | 45 days | 1,126 sqft |
2021-11-01 | 47 days | 1,000 sqft |
2021-12-01 | 56 days | 949 sqft |
2022-01-01 | 64 days | 927 sqft |
2022-02-01 | 53 days | 938 sqft |
2022-03-01 | 48 days | 972 sqft |
2022-04-01 | 49 days | 1,039 sqft |
Urban Honolulu's median square footage for active listings during the 2022-04-01 period was 1,039 sqft. One year prior, the average listing was 933 sqft.