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 128 lenders originated 2,420 FHA loans during 2021. The total origination value was $1,004,540,000, with an average FHA loan value of $415,099.
Vallejo FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Vallejo
averaged
-0.09%
for the week of 2023-01-20, compared to the national average (all FHA variants) of
0% for the same period.
Vallejo's average FHA mortgage closing costs are $11,809.
The average rate for the prior week (2023-01-13) was
6.24% and
one month ago for the week of 2022-12-16, the
average rate was 6.03%.
The average rate one year ago was 3.62%.
For refis of the same type during the week of 2023-01-20, the average rate
was -0.44%.
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.
The top Vallejo FHA lender as defined by loan originations is CALIBER HOME LOANS, INC., with
180 FHA loans originated. Their average total fees are
$11,988, which is $1,462
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Vallejo FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE ($4,257), AmeriHome Mortgage Company, LLC ($7,206), LAKEVIEW LOAN SERVICING, LLC ($7,477), Lakeview Community Capital, LLC ($7,805) and Mr. Cooper ( Nationstar Mortgage ) ($7,887).
The lowest rate Vallejo FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE (2.51%), QUICKEN LOANS, LLC (2.63%), HOME POINT FINANCIAL CORPORATION (2.63%), FREEDOM MORTGAGE CORPORATION (2.64%) and TRAVIS CREDIT UNION (2.64%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Vallejo (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 | $484,600 (13.4%) | $579,539 (11.0%) | 1.80 | 396 |
2018-02-01 | $474,000 (10.2%) | $602,488 (14.9%) | 1.72 | 404 |
2018-03-01 | $470,000 (10.2%) | $583,283 (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%) | $623,039 (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 | $469,425 (2.6%) | $557,002 (6.6%) | 1.57 | 771 |
2018-09-01 | $469,000 (4.2%) | $543,624 (0.1%) | 1.57 | 816 |
2018-10-01 | $459,450 (2.4%) | $526,057 (-3.6%) | 1.55 | 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 | $456,250 (-5.9%) | $696,476 (20.2%) | 1.57 | 628 |
2019-02-01 | $459,500 (-3.1%) | $524,618 (-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 (-9.1%) | 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 (5.9%) | $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 (1.9%) | $572,311 (-17.8%) | 1.55 | 471 |
2020-02-01 | $485,000 (5.6%) | $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 | $501,916 (0.4%) | $589,821 (0.6%) | 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%) | $603,895 (3.6%) | 1.45 | 207 |
2021-03-01 | $521,950 (7.0%) | $633,214 (8.9%) | 1.48 | 203 |
2021-04-01 | $538,094 (7.8%) | $659,013 (15.5%) | 1.46 | 228 |
2021-05-01 | $549,900 (11.0%) | $648,498 (12.9%) | 1.45 | 257 |
2021-06-01 | $577,000 (15.0%) | $669,722 (13.6%) | 1.52 | 307 |
2021-07-01 | $585,000 (15.7%) | $681,245 (14.8%) | 1.54 | 336 |
2021-08-01 | $582,000 (14.1%) | $668,777 (13.0%) | 1.55 | 391 |
2021-09-01 | $599,450 (22.4%) | $667,102 (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 | $584,500 (13.5%) | $675,217 (7.9%) | 1.58 | 213 |
2022-02-01 | $592,500 (18.6%) | $681,193 (12.8%) | 1.54 | 210 |
2022-03-01 | $610,000 (16.9%) | $714,084 (12.8%) | 1.53 | 263 |
2022-04-01 | $638,500 (18.7%) | $723,003 (9.7%) | 1.52 | 306 |
2022-05-01 | $629,000 (14.4%) | $705,919 (8.9%) | 1.44 | 436 |
2022-06-01 | $619,500 (7.4%) | $689,353 (2.9%) | 1.38 | 612 |
2022-07-01 | $615,000 (5.1%) | $685,809 (0.7%) | 1.39 | 730 |
2022-08-01 | $625,000 (7.4%) | $699,582 (4.6%) | 1.44 | 830 |
2022-09-01 | $623,450 (4.0%) | $701,454 (5.2%) | 1.46 | 787 |
2022-10-01 | $606,781 (1.3%) | $697,900 (5.2%) | 1.43 | 791 |
2022-11-01 | $599,350 (0.1%) | $696,241 (3.1%) | 1.44 | 750 |
2022-12-01 | $599,500 (1.8%) | $690,500 (3.8%) | 1.50 | 581 |
Vallejo's median listing price comes in at 150% of the national average.
Vallejo's average listing price for 2022-12-01 was $690,500, a difference of $25,472 (3.8%) versus the prior year and $-5,741 versus the prior month.
For the 2022-12-01 period, Vallejo had 581 MLS listings, a difference of -169 listings (-23%) versus the prior month and 293 listings (102%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Vallejo (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 38 days | 1,908 sqft |
2018-02-01 | 26 days | 1,857 sqft |
2018-03-01 | 24 days | 1,823 sqft |
2018-04-01 | 23 days | 1,812 sqft |
2018-05-01 | 24 days | 1,880 sqft |
2018-06-01 | 23 days | 1,864 sqft |
2018-07-01 | 30 days | 1,852 sqft |
2018-08-01 | 35 days | 1,800 sqft |
2018-09-01 | 38 days | 1,799 sqft |
2018-10-01 | 38 days | 1,705 sqft |
2018-11-01 | 44 days | 1,699 sqft |
2018-12-01 | 54 days | 1,691 sqft |
2019-01-01 | 55 days | 1,688 sqft |
2019-02-01 | 34 days | 1,747 sqft |
2019-03-01 | 32 days | 1,773 sqft |
2019-04-01 | 28 days | 1,790 sqft |
2019-05-01 | 28 days | 1,790 sqft |
2019-06-01 | 32 days | 1,874 sqft |
2019-07-01 | 32 days | 1,868 sqft |
2019-08-01 | 36 days | 1,851 sqft |
2019-09-01 | 41 days | 1,838 sqft |
2019-10-01 | 44 days | 1,832 sqft |
2019-11-01 | 51 days | 1,784 sqft |
2019-12-01 | 61 days | 1,784 sqft |
2020-01-01 | 62 days | 1,763 sqft |
2020-02-01 | 43 days | 1,797 sqft |
2020-03-01 | 36 days | 1,795 sqft |
2020-04-01 | 44 days | 1,823 sqft |
2020-05-01 | 45 days | 1,820 sqft |
2020-06-01 | 50 days | 1,809 sqft |
2020-07-01 | 40 days | 1,760 sqft |
2020-08-01 | 44 days | 1,757 sqft |
2020-09-01 | 32 days | 1,739 sqft |
2020-10-01 | 30 days | 1,740 sqft |
2020-11-01 | 32 days | 1,792 sqft |
2020-12-01 | 36 days | 1,713 sqft |
2021-01-01 | 38 days | 1,745 sqft |
2021-02-01 | 25 days | 1,696 sqft |
2021-03-01 | 26 days | 1,686 sqft |
2021-04-01 | 25 days | 1,738 sqft |
2021-05-01 | 23 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 | 1,713 sqft |
2022-02-01 | 22 days | 1,715 sqft |
2022-03-01 | 23 days | 1,766 sqft |
2022-04-01 | 25 days | 1,787 sqft |
2022-05-01 | 26 days | 1,775 sqft |
2022-06-01 | 29 days | 1,753 sqft |
2022-07-01 | 34 days | 1,746 sqft |
2022-08-01 | 37 days | 1,772 sqft |
2022-09-01 | 47 days | 1,771 sqft |
2022-10-01 | 52 days | 1,767 sqft |
2022-11-01 | 52 days | 1,772 sqft |
2022-12-01 | 67 days | 1,787 sqft |
Vallejo's median square footage for active listings during the 2022-12-01 period was 1,787 sqft. One year prior, the average listing was 1,704 sqft.