Vallejo FHA Loans

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 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).