Vallejo FHA Loan Rates, Closing Costs & Stats

VALLEJO, CA

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.

Vallejo's 104 lenders originated 1,018 FHA loans during 2023. The total origination value was $513,020,000, with an average FHA loan value of $503,949.

Vallejo FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Vallejo averaged 6.71% for the week of 2024-06-07, compared to the national average (all FHA variants) of 6.692% for the same period.

Vallejo's average FHA mortgage closing costs are $13,175.

The average rate for the prior week (2024-05-31) was 6.8% and one month ago for the week of 2024-05-03, the average rate was 6.5%.

The average rate one year ago was 6.56%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.79%.

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

Vallejo 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 Vallejo level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 188 6.15% $19,255
QUICKEN LOANS, LLC 86 6.01% $18,802
CROSSCOUNTRY MORTGAGE, LLC 50 6.51% $21,336
LOANDEPOT.COM, LLC 43 6.30% $18,116
GUILD MORTGAGE COMPANY 34 6.45% $22,768
AMERICAN PACIFIC MORTGAGE CORPORATION 32 6.56% $20,196
Paramount Residential Mortgage Group, Inc. 24 6.62% $19,521
INSPIRE HOME LOANS INC. 21 5.76% $18,629
BROKER SOLUTIONS, INC. 19 6.74% $23,193
DHI MORTGAGE COMPANY, LTD. 18 5.68% $16,415
Sierra Pacific Mortgage Company, Inc. 16 6.45% $20,998
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 15 6.03% $16,695
PENNYMAC LOAN SERVICES, LLC 14 6.17% $18,923
Century Mortgage Company DBA Century Lending Company 14 6.71% $19,379
EVERETT FINANCIAL, INC. 13 6.83% $23,626
NEWREZ LLC 12 6.35% $21,120
MASON MCDUFFIE MORTGAGE CORPORATION 10 6.46% $22,440
MOVEMENT MORTGAGE, LLC 10 6.33% $23,021
South Pacific Financial Corporation 10 6.05% $16,264
CMG MORTGAGE, INC. 10 6.64% $19,506
NFM, INC. 9 6.26% $22,642
HOMEAMERICAN MORTGAGE CORPORATION 9 5.92% $12,630
Equity Prime Mortgage LLC 9 6.83% $25,285
HOMEBRIDGE FINANCIAL SERVICES, INC. 8 6.31% $16,912
TRAVIS CREDIT UNION 8 6.25% $14,617
GUARANTEED RATE, INC. 7 6.79% $17,509
CARDINAL FINANCIAL 7 5.88% $23,008
Golden Empire Mortgage, Inc. 7 6.23% $18,590
KBHS HOME LOANS, LLC 7 5.64% $26,461
OCMBC, INC. 7 7.36% $17,871
Commerce Home Mortgage, Inc. 6 6.96% $18,071
AMERICAN FINANCIAL NETWORK, INC. 6 6.60% $17,008
SUN WEST MORTGAGE COMPANY, INC. 6 6.14% $21,104
Mr. Cooper ( Nationstar Mortgage ) 6 6.17% $22,709
FREEDOM MORTGAGE CORPORATION 6 6.08% $18,702
CALIBER HOME LOANS, INC. 6 6.25% $16,521
S1L, Inc. 5 6.63% $18,803
SUMMIT FUNDING, INC. 5 6.67% $21,207
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 5 5.88% $27,348
PANORAMA MORTGAGE GROUP, LLC 5 6.10% $28,304
BECKAM FUNDING CORP. 4 7.13% $26,316
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.94% $24,429
INTERCAP LENDING INC. 4 6.38% $23,568
U.S. Bank 4 5.94% $17,265
Flagstar Bank, FSB 4 5.59% $18,436
VILLAGE CAPITAL MORTGAGE 4 6.00% $23,267
PACIFIC RESIDENTIAL MORTGAGE, LLC 4 6.81% $16,282
AMCAP MORTGAGE, LTD. 3 6.50% $21,592
CALCON MUTUAL MORTGAGE LLC 3 6.83% $19,269
HOMEOWNERS FINANCIAL GROUP USA, LLC 3 7.17% $19,872
Carrington Mortgage Services, LLC 3 6.50% $20,780
JPMorgan Chase Bank 3 6.83% $10,906
AMERISAVE MORTGAGE CORPORATION 3 5.63% $18,570
Prosperity Home Mortgage, LLC 3 6.25% $16,771
ALLIED MORTGAGE GROUP, INC. 3 6.46% $19,491
BAY-VALLEY MORTGAGE GROUP 3 6.00% $24,611
OPEN MORTGAGE, LLC 3 6.13% $16,248
CORNERSTONE HOME LENDING, INC. 2 5.88% $13,963
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.19% $23,419
MICHIGAN MUTUAL, INC. 2 5.81% $21,109
Bank of America 2 6.81% $19,809
MLD MORTGAGE INC. 2 6.88% $20,419
INTELLILOAN, INC. 2 6.06% $19,830
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 7.69% $18,170
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.25% $29,973
GUARANTY HOME MORTGAGE CORPORATION 2 5.44% $24,300
American Mortgage & Equity Consultants, Inc. 2 6.75% $21,450
NETWORK CAPITAL FUNDING CORPORATION 2 6.13% $16,072
PREMIER MORTGAGE RESOURCES, L.L.C. 2 7.06% $21,353
PLAZA HOME MORTGAGE, INC. 2 6.13% $13,834
PLANET HOME LENDING, LLC 2 6.13% $17,968
Vellum Mortgage, Inc. 2 5.81% $11,866
DAS Acquisition Company, LLC 2 6.25% $24,945
Plains Commerce Bank 2 6.63% $15,761
ENVOY MORTGAGE, LTD 2 6.38% $20,637
AHL FUNDING 2 6.94% $21,965
EAGLE HOME MORTGAGE, LLC 2 6.19% $19,290
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.50% $16,011
ZILLOW HOME LOANS, LLC 1 6.75% $17,305
ALAMEDA MORTGAGE CORPORATION 1 6.25% $23,641
Ameris Bank 1 6.13% $14,059
AXIA FINANCIAL, LLC 1 8.13% $14,451
BAY EQUITY LLC 1 5.75% $20,246
CASTLE & COOKE MORTGAGE, LLC 1 7.75% $16,813
Cornerstone First Mortgage, Inc 1 5.25% $11,351
HOMESPIRE MORTGAGE CORPORATION 1 6.63% $31,576
iCore Lending, Inc. 1 6.50% $22,504
LADERA LENDING, INC. 1 6.38% $25,815
LENOX FINANCIAL MORTGAGE CORPORATION 1 6.38% $23,211
LOANPAL, LLC 1 6.63% $11,891
MANN FINANCIAL INC. 1 6.63% $22,678
MID AMERICA MORTGAGE, INC. 1 6.88% $10,268
NATIONS DIRECT MORTGAGE, LLC 1 6.88% $24,772
NATIONWIDE MORTGAGE BANKERS, INC. 1 5.75% $19,339
NOVA FINANCIAL & INVESTMENT CORPORATION 1 7.25% $10,087
PENTAGON FEDERAL CREDIT UNION 1 5.38% $12,363
Performance Financial, Inc. 1 5.75% $26,615
PHH Mortgage Corporation 1 6.63% $11,983
Platinum Home Mortgage Corporation 1 5.63% $25,061
RESIDENTIAL BANCORP 1 5.63% $20,367
TJC Mortgage, Inc. 1 5.75% $24,132
UNION HOME MORTGAGE CORP. 1 6.13% $20,910
Waterstone Mortgage Corporation 1 6.00% $16,597
1st Security Bank of Washington 1 6.50% $16,206

The top Vallejo FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 188 FHA loans originated. Their average total fees are $19,255, which is $454 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Vallejo FHA lenders (with over 10 loans originated) are South Pacific Financial Corporation ($16,264), DHI MORTGAGE COMPANY, LTD. ($16,415), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($16,695), LOANDEPOT.COM, LLC ($18,116) and INSPIRE HOME LOANS INC. ($18,629).

The lowest rate Vallejo FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.68%), INSPIRE HOME LOANS INC. (5.76%), QUICKEN LOANS, LLC (6.01%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.03%) and South Pacific Financial Corporation (6.05%).

Vallejo FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
VALLEJO, CA SOLANO 2022 $614,100 $786,150 $950,300 $1,181,000
VALLEJO, CA SOLANO 2023 $685,400 $877,450 $1,060,600 $1,318,100

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Vallejo (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 $484,600 (13.4%) $579,539 (11.0%) 1.80 396
2018-02-01 $474,000 (10.2%) $602,352 (14.9%) 1.72 404
2018-03-01 $470,000 (10.2%) $583,201 (13.2%) 1.65 443
2018-04-01 $483,125 (11.1%) $586,330 (12.2%) 1.64 490
2018-05-01 $499,000 (13.1%) $623,135 (17.1%) 1.67 557
2018-06-01 $489,900 (7.5%) $611,163 (10.7%) 1.63 663
2018-07-01 $487,000 (6.1%) $594,288 (11.2%) 1.63 685
2018-08-01 $469,550 (2.7%) $557,017 (6.6%) 1.57 771
2018-09-01 $469,000 (4.2%) $543,624 (0.1%) 1.58 816
2018-10-01 $459,450 (2.4%) $525,980 (-3.6%) 1.56 845
2018-11-01 $455,050 (0.6%) $530,472 (-5.1%) 1.54 806
2018-12-01 $455,000 (-5.2%) $523,771 (-10.4%) 1.57 709
2019-01-01 $455,750 (-6.0%) $695,797 (20.1%) 1.57 628
2019-02-01 $459,725 (-3.0%) $524,807 (-12.9%) 1.55 635
2019-03-01 $470,714 (0.2%) $540,484 (-7.3%) 1.54 644
2019-04-01 $485,000 (0.4%) $557,960 (-4.8%) 1.54 667
2019-05-01 $487,919 (-2.2%) $566,121 (-9.2%) 1.53 733
2019-06-01 $499,900 (2.0%) $586,134 (-4.1%) 1.56 766
2019-07-01 $499,000 (2.5%) $584,585 (-1.6%) 1.56 777
2019-08-01 $496,941 (5.8%) $580,896 (4.3%) 1.57 769
2019-09-01 $493,852 (5.3%) $569,180 (4.7%) 1.58 763
2019-10-01 $491,793 (7.0%) $561,369 (6.7%) 1.59 749
2019-11-01 $479,000 (5.3%) $554,684 (4.6%) 1.57 658
2019-12-01 $476,225 (4.7%) $568,552 (8.6%) 1.59 518
2020-01-01 $465,000 (2.0%) $572,311 (-17.8%) 1.55 471
2020-02-01 $485,000 (5.5%) $582,887 (11.1%) 1.59 440
2020-03-01 $488,000 (3.7%) $581,747 (7.6%) 1.53 467
2020-04-01 $499,000 (2.9%) $570,498 (2.3%) 1.56 508
2020-05-01 $495,500 (1.6%) $574,475 (1.5%) 1.51 531
2020-06-01 $502,158 (0.5%) $590,071 (0.7%) 1.48 439
2020-07-01 $505,750 (1.4%) $593,198 (1.5%) 1.47 396
2020-08-01 $510,000 (2.6%) $591,793 (1.9%) 1.46 355
2020-09-01 $489,688 (-0.8%) $575,264 (1.1%) 1.40 332
2020-10-01 $499,000 (1.5%) $596,939 (6.3%) 1.43 334
2020-11-01 $512,500 (7.0%) $605,401 (9.1%) 1.50 294
2020-12-01 $498,875 (4.8%) $609,717 (7.2%) 1.48 240
2021-01-01 $514,900 (10.7%) $625,935 (9.4%) 1.54 211
2021-02-01 $499,725 (3.0%) $602,559 (3.4%) 1.45 207
2021-03-01 $521,975 (7.0%) $633,163 (8.8%) 1.48 203
2021-04-01 $538,094 (7.8%) $659,397 (15.6%) 1.46 228
2021-05-01 $549,900 (11.0%) $648,498 (12.9%) 1.46 257
2021-06-01 $577,000 (14.9%) $669,722 (13.5%) 1.52 307
2021-07-01 $585,000 (15.7%) $681,788 (14.9%) 1.54 336
2021-08-01 $582,000 (14.1%) $669,031 (13.1%) 1.55 391
2021-09-01 $599,450 (22.4%) $667,207 (16.0%) 1.60 424
2021-10-01 $599,000 (20.0%) $663,307 (11.1%) 1.60 432
2021-11-01 $599,000 (16.9%) $675,072 (11.5%) 1.60 376
2021-12-01 $589,200 (18.1%) $665,028 (9.1%) 1.60 288
2022-01-01 $585,000 (13.6%) $675,470 (7.9%) 1.58 213
2022-02-01 $593,250 (18.7%) $681,193 (13.1%) 1.54 210
2022-03-01 $610,000 (16.9%) $714,002 (12.8%) 1.53 263
2022-04-01 $639,000 (18.8%) $724,182 (9.8%) 1.52 306
2022-05-01 $629,000 (14.4%) $705,979 (8.9%) 1.44 436
2022-06-01 $619,500 (7.4%) $689,353 (2.9%) 1.38 612
2022-07-01 $620,000 (6.0%) $686,594 (0.7%) 1.40 730
2022-08-01 $625,000 (7.4%) $699,719 (4.6%) 1.44 830
2022-09-01 $624,000 (4.1%) $701,662 (5.2%) 1.46 787
2022-10-01 $606,891 (1.3%) $697,992 (5.2%) 1.43 791
2022-11-01 $599,625 (0.1%) $696,482 (3.2%) 1.44 750
2022-12-01 $599,900 (1.8%) $692,313 (4.1%) 1.48 575
2023-01-01 $599,000 (2.4%) $679,404 (0.6%) 1.48 478
2023-02-01 $599,000 (1.0%) $675,651 (-0.8%) 1.45 397
2023-03-01 $599,968 (-1.6%) $699,749 (-2.0%) 1.42 371
2023-04-01 $609,500 (-4.6%) $745,839 (3.0%) 1.42 297
2023-05-01 $622,225 (-1.1%) $751,163 (6.4%) 1.41 326
2023-06-01 $626,000 (1.1%) $730,478 (6.0%) 1.41 361
2023-07-01 $624,900 (0.8%) $720,073 (4.9%) 1.42 393
2023-08-01 $615,000 (-1.6%) $726,738 (3.9%) 1.41 450
2023-09-01 $599,950 (-3.9%) $708,896 (1.0%) 1.40 515
2023-10-01 $598,950 (-1.3%) $680,878 (-2.5%) 1.41 563
2023-11-01 $583,814 (-2.6%) $668,738 (-4.0%) 1.39 554
2023-12-01 $589,000 (-1.8%) $680,622 (-1.7%) 1.44 475
2024-01-01 $592,500 (-1.1%) $689,497 (1.5%) 1.45 414
2024-02-01 $583,944 (-2.5%) $662,531 (-1.9%) 1.41 417
2024-03-01 $585,000 (-2.5%) $692,735 (-1.0%) 1.38 457
2024-04-01 $597,000 (-2.1%) $691,104 (-7.3%) 1.39 545
2024-05-01 $599,450 (-3.7%) $693,878 (-7.6%) 1.35 618
Vallejo's median listing price for 2024-05-01 was $599,450, a difference of $-22,775 (-3.7%) versus the prior year and $2,450 versus the prior month.

Vallejo's median listing price comes in at 135% of the national average.

Vallejo's average listing price for 2024-05-01 was $693,878, a difference of $-57,285 (-7.6%) versus the prior year and $2,774 versus the prior month.

For the 2024-05-01 period, Vallejo had 618 MLS listings, a difference of 73 listings (13%) versus the prior month and 292 listings (90%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Vallejo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 37 days 1,906 sqft
2018-02-01 26 days 1,856 sqft
2018-03-01 23 days 1,822 sqft
2018-04-01 22 days 1,812 sqft
2018-05-01 23 days 1,880 sqft
2018-06-01 22 days 1,866 sqft
2018-07-01 30 days 1,852 sqft
2018-08-01 34 days 1,800 sqft
2018-09-01 37 days 1,797 sqft
2018-10-01 38 days 1,703 sqft
2018-11-01 44 days 1,698 sqft
2018-12-01 53 days 1,689 sqft
2019-01-01 54 days 1,685 sqft
2019-02-01 34 days 1,747 sqft
2019-03-01 31 days 1,773 sqft
2019-04-01 27 days 1,790 sqft
2019-05-01 27 days 1,790 sqft
2019-06-01 31 days 1,874 sqft
2019-07-01 32 days 1,868 sqft
2019-08-01 36 days 1,852 sqft
2019-09-01 40 days 1,842 sqft
2019-10-01 43 days 1,835 sqft
2019-11-01 51 days 1,784 sqft
2019-12-01 60 days 1,786 sqft
2020-01-01 60 days 1,763 sqft
2020-02-01 43 days 1,797 sqft
2020-03-01 36 days 1,796 sqft
2020-04-01 43 days 1,823 sqft
2020-05-01 44 days 1,820 sqft
2020-06-01 48 days 1,808 sqft
2020-07-01 39 days 1,760 sqft
2020-08-01 43 days 1,757 sqft
2020-09-01 32 days 1,740 sqft
2020-10-01 29 days 1,740 sqft
2020-11-01 32 days 1,792 sqft
2020-12-01 36 days 1,713 sqft
2021-01-01 36 days 1,745 sqft
2021-02-01 24 days 1,694 sqft
2021-03-01 26 days 1,687 sqft
2021-04-01 25 days 1,740 sqft
2021-05-01 22 days 1,745 sqft
2021-06-01 23 days 1,770 sqft
2021-07-01 27 days 1,809 sqft
2021-08-01 27 days 1,692 sqft
2021-09-01 29 days 1,765 sqft
2021-10-01 31 days 1,778 sqft
2021-11-01 37 days 1,768 sqft
2021-12-01 42 days 1,704 sqft
2022-01-01 38 days 1,714 sqft
2022-02-01 22 days 1,715 sqft
2022-03-01 23 days 1,766 sqft
2022-04-01 24 days 1,787 sqft
2022-05-01 26 days 1,773 sqft
2022-06-01 29 days 1,753 sqft
2022-07-01 34 days 1,750 sqft
2022-08-01 37 days 1,773 sqft
2022-09-01 47 days 1,770 sqft
2022-10-01 52 days 1,767 sqft
2022-11-01 52 days 1,773 sqft
2022-12-01 67 days 1,784 sqft
2023-01-01 72 days 1,793 sqft
2023-02-01 59 days 1,778 sqft
2023-03-01 40 days 1,822 sqft
2023-04-01 38 days 1,847 sqft
2023-05-01 33 days 1,849 sqft
2023-06-01 37 days 1,813 sqft
2023-07-01 31 days 1,781 sqft
2023-08-01 35 days 1,815 sqft
2023-09-01 29 days 1,744 sqft
2023-10-01 37 days 1,704 sqft
2023-11-01 39 days 1,692 sqft
2023-12-01 50 days 1,716 sqft
2024-01-01 50 days 1,706 sqft
2024-02-01 37 days 1,624 sqft
2024-03-01 34 days 1,659 sqft
2024-04-01 32 days 1,686 sqft
2024-05-01 31 days 1,704 sqft
Vallejo's median listing age (time on market) for 2024-05-01 was 31 days. This is -6% shorter than the same period one year ago.

Vallejo's median square footage for active listings during the 2024-05-01 period was 1,704 sqft. One year prior, the average listing was 1,849 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).