Vallejo FHA Loans

VALLEJO, CA

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    • 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 5.89% for the week of 2022-09-23, compared to the national average (all FHA variants) of 6.08% for the same period.

    The average rate for the prior week (2022-09-16) was 5.69% and one month ago for the week of 2022-08-19, the average rate was 5.5%.

    The average rate one year ago was 3.05%.

    For refis of the same type during the week of 2022-09-23, the average rate was 5.94%.

    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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Vallejo level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    CALIBER HOME LOANS, INC. 180 2.86% $11,988
    QUICKEN LOANS, LLC 161 2.63% $10,526
    UNITED WHOLESALE MORTGAGE, LLC 148 2.71% $12,767
    LOANDEPOT.COM, LLC 104 3.18% $14,932
    AMERICAN PACIFIC MORTGAGE CORPORATION 95 3.07% $14,858
    FREEDOM MORTGAGE CORPORATION 83 2.64% $8,171
    Mr. Cooper ( Nationstar Mortgage ) 64 2.97% $7,887
    CROSSCOUNTRY MORTGAGE, LLC 61 3.05% $13,762
    HOMEBRIDGE FINANCIAL SERVICES, INC. 56 2.82% $12,596
    GUILD MORTGAGE COMPANY 48 2.96% $16,904
    Commerce Home Mortgage, Inc. 46 3.13% $13,717
    LAKEVIEW LOAN SERVICING, LLC 39 2.72% $7,477
    HOME POINT FINANCIAL CORPORATION 38 2.63% $11,611
    DHI MORTGAGE COMPANY, LTD. 36 2.73% $13,467
    PENNYMAC LOAN SERVICES, LLC 33 2.92% $7,976
    NEWREZ LLC 33 2.90% $9,135
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 31 3.25% $15,632
    Flagstar Bank, FSB 29 2.85% $13,958
    FINANCE OF AMERICA MORTGAGE LLC 28 2.93% $14,947
    GUARANTEED RATE, INC. 27 2.94% $15,471
    LENDUS, LLC 25 2.74% $11,380
    Carrington Mortgage Services, LLC 24 3.15% $12,063
    VILLAGE CAPITAL MORTGAGE 22 2.51% $4,257
    TRAVIS CREDIT UNION 21 2.64% $11,851
    Paramount Residential Mortgage Group, Inc. 21 3.16% $12,845
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 20 3.21% $13,596
    SUMMIT FUNDING, INC. 18 3.19% $15,607
    ALAMEDA MORTGAGE CORPORATION 18 2.95% $13,533
    MOUNTAIN WEST FINANCIAL, INC. 18 3.22% $17,356
    Lakeview Community Capital, LLC 18 2.67% $7,805
    PRIMARY RESIDENTIAL MORTGAGE, INC. 17 3.25% $15,508
    PANORAMA MORTGAGE GROUP, LLC 17 3.29% $14,710
    Equity Prime Mortgage LLC 17 3.09% $12,864
    BROKER SOLUTIONS, INC. 15 2.91% $11,860
    Platinum Home Mortgage Corporation 15 3.05% $16,068
    Hometown Equity Mortgage, LLC 15 2.92% $14,771
    STEARNS LENDING, LLC 14 2.87% $11,334
    CMG MORTGAGE, INC. 14 2.92% $15,473
    AMERICAN FINANCIAL NETWORK, INC. 12 3.12% $18,676
    PLANET HOME LENDING, LLC 12 2.65% $10,031
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 12 3.31% $13,833
    NATIONS DIRECT MORTGAGE, LLC 12 3.01% $13,762
    PREMIER LENDING, INC. 11 3.00% $13,702
    LAND HOME FINANCIAL SERVICES, INC. 10 3.24% $15,496
    AmeriHome Mortgage Company, LLC 10 2.67% $7,206
    INSPIRE HOME LOANS INC. 10 3.49% $18,570
    HOMEOWNERS FINANCIAL GROUP USA, LLC 9 2.96% $14,309
    NATIONWIDE MORTGAGE BANKERS, INC. 9 3.13% $14,594
    Nations Lending Corporation 9 3.18% $11,976
    MOVEMENT MORTGAGE, LLC 8 3.31% $10,510
    MASON MCDUFFIE MORTGAGE CORPORATION 7 2.80% $12,973
    LOANPAL, LLC 7 2.82% $17,677
    First Guaranty Mortgage Corporation 7 2.70% $8,672
    PLAZA HOME MORTGAGE, INC. 6 2.81% $13,608
    AMERISAVE MORTGAGE CORPORATION 6 2.58% $12,379
    InterContinental Capital Group, Inc 5 2.60% $8,590
    SNAPFI, INC. 5 3.03% $13,412
    First Bank 5 2.65% $10,729
    Sierra Pacific Mortgage Company, Inc. 5 3.15% $15,827
    EVERETT FINANCIAL, INC. 5 4.03% $12,634
    BECKAM FUNDING CORP. 4 3.31% $14,624
    Golden Empire Mortgage, Inc. 4 2.78% $14,209
    CELEBRITY HOME LOANS, LLC 3 2.63% $12,321
    PARKSIDE LENDING, LLC 3 2.42% $15,423
    CALCON MUTUAL MORTGAGE LLC 3 3.92% $12,840
    PREMIER MORTGAGE RESOURCES, L.L.C. 3 3.17% $15,597
    BAY EQUITY LLC 3 3.25% $13,780
    MORIA DEVELOPMENT, INC. 3 3.67% $19,445
    Mortgage Research Center, LLC 3 2.58% $10,655
    The Federal Savings Bank 3 2.58% $11,010
    TOP FLITE FINANCIAL, INC. 3 3.38% $28,691
    MUTUAL OF OMAHA MORTGAGE, INC. 3 3.17% $10,651
    ENVOY MORTGAGE, LTD 3 2.83% $13,612
    HOMEAMERICAN MORTGAGE CORPORATION 3 2.46% $9,516
    NFM, INC. 3 3.38% $14,305
    OCMBC, INC. 3 2.50% $11,423
    UNITED SECURITY FINANCIAL CORP 2 2.81% $8,592
    Barrington Bank & Trust Company, N.A. 2 4.31% $15,528
    MUFG Union Bank 2 2.56% $12,102
    BEST CAPITAL FUNDING 2 3.31% $9,383
    CLEARPATH LENDING 2 2.75% $8,192
    PRIMUS LENDING CORP. 2 3.44% $23,912
    Bank of the West 2 2.94% $8,725
    GUARANTEED RATE AFFINITY, LLC 2 3.00% $10,384
    INTERNATIONAL CITY MORTGAGE, INC. 2 3.81% $21,205
    SUN WEST MORTGAGE COMPANY, INC. 2 2.50% $14,833
    Wells Fargo Bank 2 2.75% $8,500
    SOVEREIGN LENDING GROUP INCORPORATED 2 3.00% $9,132
    LOANLEADERS OF AMERICA, INC. 2 2.31% $14,194
    South Pacific Financial Corporation 2 2.75% $16,366
    RESIDENTIAL BANCORP. 2 3.12% $14,925
    Goldwater Bank, N.A. 1 3.13% $9,704
    FBC MORTGAGE, LLC 1 2.88% $14,472
    EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 3.38% $9,788
    Hometown Lenders, Inc. 1 3.13% $16,883
    INTERCAP LENDING INC. 1 3.13% $13,348
    JMAC LENDING, INC. 1 3.75% $15,504
    JPMorgan Chase Bank 1 2.75% $14,513
    KBHS HOME LOANS, LLC 1 3.63% $28,410
    EMBRACE HOME LOANS, INC. 1 2.38% $11,292
    DIRECT MORTGAGE, CORP. 1 2.63% $20,157
    LIBERTY HOME MORTGAGE CORPORATION 1 3.88% $18,584
    DEL SUR CORPORATION 1 2.50% $16,321
    MANN FINANCIAL INC. 1 3.88% $20,140
    Manufacturers and Traders Trust Company 1 3.25% $14,424
    ML Mortgage Corp. 1 2.50% $12,450
    CORNERSTONE HOME LENDING, INC. 1 3.25% $10,692
    Colten Mortgage, LLC 1 2.38% $10,182
    CHURCHILL MORTGAGE CORPORATION 1 2.25% $13,348
    NEXERA HOLDING LLC 1 3.00% $14,440
    North American Savings Bank, F.S.B. 1 2.50% $14,744
    OCEANSIDE MORTGAGE COMPANY 1 2.49% $6,354
    CALCULATED RISK ANALYTICS LLC 1 2.88% $12,421
    PREMIA MORTGAGE, LLC 1 2.63% $9,363
    BAYSHORE MORTGAGE FUNDING, LLC 1 2.63% $12,392
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.99% $13,148
    Banner Bank 1 2.75% $10,780
    S1L, Inc. 1 4.25% $21,413
    ST FIN CORP 1 2.38% $11,979
    Strong Home Mortgage, LLC 1 2.75% $9,636
    Bank of America 1 2.75% $10,176
    TIAA, FSB 1 2.88% $9,691
    Umpqua Bank 1 3.13% $11,496
    AMERICAN FINANCING CORPORATION 1 2.50% $15,188
    U.S. Bank 1 2.63% $10,721
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $16,347
    V.I.P. MORTGAGE, INC. 1 3.88% $14,228
    WALL FINANCIAL, INC. 1 3.00% $11,767

    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. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $482,494 (13.0%) $571,647 (7.8%) 1.78 427
    2018-02-01 $472,450 (10.3%) $590,982 (12.6%) 1.70 423
    2018-03-01 $469,990 (10.6%) $571,153 (9.6%) 1.63 469
    2018-04-01 $482,500 (12.7%) $577,124 (8.8%) 1.62 522
    2018-05-01 $499,000 (13.1%) $611,361 (13.3%) 1.66 595
    2018-06-01 $489,900 (7.7%) $603,433 (7.3%) 1.63 715
    2018-07-01 $486,500 (6.0%) $593,532 (9.4%) 1.62 751
    2018-08-01 $469,800 (3.8%) $554,846 (5.9%) 1.57 842
    2018-09-01 $469,900 (4.5%) $542,757 (0.5%) 1.57 891
    2018-10-01 $459,500 (2.3%) $527,480 (-2.7%) 1.54 928
    2018-11-01 $459,475 (1.7%) $534,052 (-3.5%) 1.54 897
    2018-12-01 $458,000 (-4.4%) $523,784 (-9.8%) 1.57 791
    2019-01-01 $457,000 (-5.3%) $831,640 (45.5%) 1.58 691
    2019-02-01 $461,400 (-2.3%) $522,317 (-11.6%) 1.55 698
    2019-03-01 $472,371 (0.5%) $540,595 (-5.4%) 1.54 702
    2019-04-01 $485,000 (0.5%) $560,092 (-3.0%) 1.53 725
    2019-05-01 $484,750 (-2.9%) $561,558 (-8.2%) 1.49 785
    2019-06-01 $499,800 (2.0%) $583,798 (-3.3%) 1.54 810
    2019-07-01 $498,750 (2.5%) $580,579 (-2.2%) 1.55 828
    2019-08-01 $494,857 (5.3%) $571,962 (3.1%) 1.56 782
    2019-09-01 $490,607 (4.4%) $560,480 (3.3%) 1.56 749
    2019-10-01 $487,000 (6.0%) $553,649 (5.0%) 1.55 802
    2019-11-01 $479,000 (4.3%) $543,678 (1.8%) 1.55 688
    2019-12-01 $474,950 (3.7%) $556,849 (6.3%) 1.58 555
    2020-01-01 $462,475 (1.2%) $554,586 (-33.3%) 1.54 492
    2020-02-01 $465,000 (0.8%) $568,648 (8.9%) 1.50 462
    2020-03-01 $486,500 (3.0%) $574,664 (6.3%) 1.52 479
    2020-04-01 $495,500 (2.2%) $580,785 (3.7%) 1.54 537
    2020-05-01 $495,000 (2.1%) $583,461 (3.9%) 1.50 563
    2020-06-01 $499,450 (-0.1%) $599,093 (2.6%) 1.46 461
    2020-07-01 $513,750 (3.0%) $632,757 (9.0%) 1.47 415
    2020-08-01 $505,000 (2.1%) $620,493 (8.5%) 1.44 382
    2020-09-01 $489,000 (-0.3%) $594,849 (6.1%) 1.40 355
    2020-10-01 $498,000 (2.3%) $618,522 (11.7%) 1.42 349
    2020-11-01 $513,500 (7.2%) $624,211 (14.8%) 1.47 311
    2020-12-01 $497,000 (4.6%) $605,501 (8.7%) 1.46 245
    2021-01-01 $515,000 (11.4%) $641,175 (15.6%) 1.52 218
    2021-02-01 $500,000 (7.5%) $638,886 (12.4%) 1.44 202
    2021-03-01 $526,975 (8.3%) $661,405 (15.1%) 1.48 189
    2021-04-01 $538,000 (8.6%) $658,741 (13.4%) 1.45 220
    2021-05-01 $549,900 (11.1%) $648,716 (11.2%) 1.45 243
    2021-06-01 $577,000 (15.5%) $669,574 (11.8%) 1.50 295
    2021-07-01 $589,450 (14.7%) $682,493 (7.9%) 1.53 309
    2021-08-01 $580,975 (15.0%) $668,864 (7.8%) 1.53 375
    2021-09-01 $599,450 (22.6%) $661,883 (11.3%) 1.58 410
    2021-10-01 $599,000 (20.3%) $658,402 (6.5%) 1.58 422
    2021-11-01 $599,000 (16.7%) $667,965 (7.0%) 1.58 362
    2021-12-01 $585,000 (17.7%) $655,802 (8.3%) 1.56 273
    2022-01-01 $584,000 (13.4%) $666,402 (3.9%) 1.56 203
    2022-02-01 $593,500 (18.7%) $679,578 (6.4%) 1.51 200
    2022-03-01 $612,200 (16.2%) $708,807 (7.2%) 1.51 252
    2022-04-01 $635,000 (18.0%) $718,432 (9.1%) 1.49 294
    2022-05-01 $629,000 (14.4%) $704,166 (8.6%) 1.41 421
    2022-06-01 $616,495 (6.8%) $688,535 (2.8%) 1.37 600
    2022-07-01 $615,000 (4.3%) $686,152 (0.5%) 1.37 726
    2022-08-01 $622,500 (7.2%) $697,391 (4.3%) 1.43 820
    Vallejo's median listing price for 2022-08-01 was $622,500, a difference of $41,525 (7.2%) versus the prior year and $7,500 versus the prior month.

    Vallejo's median listing price comes in at 143% of the national average.

    Vallejo's average listing price for 2022-08-01 was $697,391, a difference of $28,527 (4.3%) versus the prior year and $11,239 versus the prior month.

    For the 2022-08-01 period, Vallejo had 820 MLS listings, a difference of 94 listings (13%) versus the prior month and 445 listings (119%) 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 28 days 1,851 sqft
    2018-03-01 23 days 1,802 sqft
    2018-04-01 23 days 1,794 sqft
    2018-05-01 24 days 1,871 sqft
    2018-06-01 23 days 1,864 sqft
    2018-07-01 31 days 1,854 sqft
    2018-08-01 35 days 1,802 sqft
    2018-09-01 38 days 1,783 sqft
    2018-10-01 37 days 1,711 sqft
    2018-11-01 43 days 1,716 sqft
    2018-12-01 53 days 1,696 sqft
    2019-01-01 56 days 1,696 sqft
    2019-02-01 34 days 1,747 sqft
    2019-03-01 36 days 1,777 sqft
    2019-04-01 29 days 1,796 sqft
    2019-05-01 28 days 1,789 sqft
    2019-06-01 33 days 1,863 sqft
    2019-07-01 31 days 1,862 sqft
    2019-08-01 36 days 1,848 sqft
    2019-09-01 42 days 1,845 sqft
    2019-10-01 41 days 1,837 sqft
    2019-11-01 43 days 1,818 sqft
    2019-12-01 49 days 1,794 sqft
    2020-01-01 53 days 1,765 sqft
    2020-02-01 31 days 1,784 sqft
    2020-03-01 28 days 1,785 sqft
    2020-04-01 37 days 1,811 sqft
    2020-05-01 35 days 1,797 sqft
    2020-06-01 33 days 1,791 sqft
    2020-07-01 29 days 1,764 sqft
    2020-08-01 27 days 1,743 sqft
    2020-09-01 23 days 1,727 sqft
    2020-10-01 29 days 1,746 sqft
    2020-11-01 33 days 1,805 sqft
    2020-12-01 35 days 1,688 sqft
    2021-01-01 33 days 1,761 sqft
    2021-02-01 18 days 1,699 sqft
    2021-03-01 20 days 1,688 sqft
    2021-04-01 20 days 1,736 sqft
    2021-05-01 18 days 1,744 sqft
    2021-06-01 16 days 1,787 sqft
    2021-07-01 21 days 1,825 sqft
    2021-08-01 21 days 1,689 sqft
    2021-09-01 24 days 1,774 sqft
    2021-10-01 24 days 1,799 sqft
    2021-11-01 31 days 1,778 sqft
    2021-12-01 37 days 1,699 sqft
    2022-01-01 34 days 1,697 sqft
    2022-02-01 20 days 1,715 sqft
    2022-03-01 20 days 1,767 sqft
    2022-04-01 18 days 1,782 sqft
    2022-05-01 21 days 1,776 sqft
    2022-06-01 23 days 1,755 sqft
    2022-07-01 29 days 1,746 sqft
    2022-08-01 32 days 1,774 sqft
    Vallejo's median listing age (time on market) for 2022-08-01 was 32 days. This is 54% longer than the same period one year ago.

    Vallejo's median square footage for active listings during the 2022-08-01 period was 1,774 sqft. One year prior, the average listing was 1,689 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).