Visalia FHA Loan Rates, Closing Costs & Stats

VISALIA, 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.

Visalia's 94 lenders originated 1,122 FHA loans during 2023. The total origination value was $356,090,000, with an average FHA loan value of $317,371.

Visalia FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Visalia averaged 6.67% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Visalia's average FHA mortgage closing costs are $9,661.

The average rate for the prior week (2024-04-05) was 6.49% and one month ago for the week of 2024-03-08, the average rate was 6.23%.

The average rate one year ago was 5.96%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.77%.

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

Visalia 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 Visalia level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 131 6.02% $14,855
DHI MORTGAGE COMPANY, LTD. 102 5.42% $10,368
QUICKEN LOANS, LLC 80 6.17% $12,906
ALAMEDA MORTGAGE CORPORATION 37 6.68% $16,753
CROSSCOUNTRY MORTGAGE, LLC 33 6.36% $16,799
EAGLE HOME MORTGAGE, LLC 31 6.19% $15,793
AMERICAN PACIFIC MORTGAGE CORPORATION 30 6.53% $13,813
Commerce Home Mortgage, Inc. 30 6.65% $12,693
CALIBER HOME LOANS, INC. 28 5.74% $15,044
Century Mortgage Company DBA Century Lending Company 24 6.60% $14,985
PENNYMAC LOAN SERVICES, LLC 23 5.78% $15,654
FREEDOM MORTGAGE CORPORATION 22 6.85% $15,933
Sierra Pacific Mortgage Company, Inc. 20 6.59% $16,939
INSPIRE HOME LOANS INC. 19 5.41% $10,757
RESIDENTIAL WHOLESALE MORTGAGE, INC. 18 6.52% $14,796
LOANDEPOT.COM, LLC 15 5.91% $13,894
FBC MORTGAGE, LLC 14 5.99% $15,714
PLAZA HOME MORTGAGE, INC. 14 6.41% $12,824
NEWREZ LLC 14 6.40% $14,783
OCMBC, INC. 13 6.85% $15,339
Carrington Mortgage Services, LLC 12 6.18% $11,322
PANORAMA MORTGAGE GROUP, LLC 11 6.19% $13,921
LOANPAL, LLC 10 6.01% $12,319
Platinum Home Mortgage Corporation 9 6.26% $14,616
COASTAL FUNDING SLC, INC. 9 6.21% $12,821
U.S. Bank 8 5.86% $16,024
Mr. Cooper ( Nationstar Mortgage ) 8 6.42% $17,174
VERITAS FUNDING, LLC 8 6.30% $14,302
GUILD MORTGAGE COMPANY 8 6.56% $10,569
Equity Prime Mortgage LLC 8 6.61% $13,772
BECKAM FUNDING CORP. 7 6.96% $19,186
ALTITUDE FINANCIAL CORPORATION 7 7.20% $10,002
CMG MORTGAGE, INC. 7 6.03% $20,033
PRIMARY RESIDENTIAL MORTGAGE, INC. 7 6.91% $14,862
CARDINAL FINANCIAL 6 6.88% $17,839
Paramount Residential Mortgage Group, Inc. 6 6.44% $13,608
Golden Empire Mortgage, Inc. 6 6.40% $15,602
MLD MORTGAGE INC. 6 6.50% $13,327
GUARANTEED RATE, INC. 5 6.85% $14,723
AMERISAVE MORTGAGE CORPORATION 5 5.95% $14,009
MUTUAL OF OMAHA MORTGAGE, INC. 5 6.65% $14,893
AMERICAN FINANCIAL NETWORK, INC. 5 6.23% $14,330
BROKER SOLUTIONS, INC. 5 6.55% $10,480
Flagstar Bank, FSB 4 6.22% $10,633
SUN WEST MORTGAGE COMPANY, INC. 4 6.66% $14,565
ENVOY MORTGAGE, LTD 4 6.06% $11,388
FIRST COMMUNITY MORTGAGE, INC. 4 6.28% $15,112
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.08% $14,066
RESIDENTIAL BANCORP 3 6.71% $18,165
SUMMIT FUNDING, INC. 3 6.50% $16,473
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.29% $13,376
CALCON MUTUAL MORTGAGE LLC 3 7.04% $16,638
PLANET HOME LENDING, LLC 3 7.25% $15,598
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.54% $16,115
MASON MCDUFFIE MORTGAGE CORPORATION 3 7.17% $10,889
BAY-VALLEY MORTGAGE GROUP 2 6.44% $15,143
AMERICAN FINANCING CORPORATION 2 6.94% $10,540
AmeriHome Mortgage Company, LLC 2 6.19% $10,304
ACADEMY MORTGAGE CORPORATION 2 6.56% $17,330
Hometown Equity Mortgage, LLC 2 6.44% $11,426
MOVEMENT MORTGAGE, LLC 2 6.94% $17,029
VILLAGE CAPITAL MORTGAGE 2 6.19% $12,800
VISION ONE MORTGAGE, INC. 2 7.19% $14,505
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $18,995
NFM, INC. 1 6.13% $18,977
Mortgage Research Center, LLC 1 7.50% $4,038
ONY GLO, INC. 1 6.25% $20,247
MICHIGAN MUTUAL, INC. 1 5.13% $15,800
LEADERONE FINANCIAL CORPORATION 1 6.38% $10,784
LAND HOME FINANCIAL SERVICES, INC. 1 7.13% $12,377
JPMorgan Chase Bank 1 7.75% $6,756
JMAC LENDING, INC. 1 6.50% $13,725
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.13% $13,637
POINT Mortgage 1 6.75% $11,119
PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.50% $11,281
FIRST ALLIANCE HOME MORTGAGE, LLC 1 7.25% $18,951
EVERETT FINANCIAL, INC. 1 7.13% $13,756
EMM LOANS LLC 1 6.25% $18,521
DRAPER AND KRAMER MORTGAGE CORP. 1 7.25% $14,112
ROYAL UNITED MORTGAGE LLC 1 7.75% $9,134
DIGNIFIED HOME LOANS, LLC 1 5.75% $19,337
CITYWIDE HOME LOANS, LLC 1 7.25% $7,250
CENTRAL COAST LENDING, INC. 1 6.63% $11,685
The Federal Savings Bank 1 6.13% $22,738
TOP FLITE FINANCIAL, INC. 1 6.63% $20,794
TruHome Solutions, LLC 1 5.13% $14,227
BRIDGELOCK CAPITAL 1 6.25% $15,448
BAY EQUITY LLC 1 6.75% $10,082
AHL FUNDING 1 8.00% $4,291
WALL FINANCIAL, INC. 1 5.63% $13,288
V.I.P. MORTGAGE, INC. 1 6.75% $13,219
ZILLOW HOME LOANS, LLC 1 6.63% $10,861
NBKC BANK 1 5.63% $9,237
NETWORK CAPITAL FUNDING CORPORATION 1 6.63% $12,183

The top Visalia FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 131 FHA loans originated. Their average total fees are $14,855, which is $4,487 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

The lowest fee Visalia FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($10,368), INSPIRE HOME LOANS INC. ($10,757), Carrington Mortgage Services, LLC ($11,322), LOANPAL, LLC ($12,319) and Commerce Home Mortgage, Inc. ($12,693).

The lowest rate Visalia FHA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. (5.41%), DHI MORTGAGE COMPANY, LTD. (5.42%), CALIBER HOME LOANS, INC. (5.74%), PENNYMAC LOAN SERVICES, LLC (5.78%) and LOANDEPOT.COM, LLC (5.91%).

Visalia FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
VISALIA, CA TULARE 2022 $420,680 $538,650 $651,050 $809,150
VISALIA, CA TULARE 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Visalia (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 $242,450 (-1.1%) $315,239 (-1.4%) 0.90 859
2018-02-01 $249,995 (0.2%) $314,730 (-2.3%) 0.91 873
2018-03-01 $257,500 (3.0%) $318,901 (-0.9%) 0.90 855
2018-04-01 $267,450 (6.8%) $329,977 (0.7%) 0.91 838
2018-05-01 $269,999 (4.2%) $334,736 (0.9%) 0.90 889
2018-06-01 $269,995 (4.2%) $333,775 (2.9%) 0.90 904
2018-07-01 $271,250 (4.7%) $333,108 (1.9%) 0.91 948
2018-08-01 $264,900 (6.2%) $323,515 (2.3%) 0.89 996
2018-09-01 $265,000 (8.2%) $314,814 (-0.2%) 0.89 1,034
2018-10-01 $269,000 (8.0%) $315,093 (-0.4%) 0.91 1,061
2018-11-01 $265,000 (7.2%) $315,190 (0.6%) 0.90 1,051
2018-12-01 $265,000 (7.8%) $312,098 (-1.4%) 0.91 1,016
2019-01-01 $264,900 (9.3%) $307,194 (-2.6%) 0.92 979
2019-02-01 $269,900 (8.0%) $316,241 (0.5%) 0.91 955
2019-03-01 $271,346 (5.4%) $325,446 (2.1%) 0.89 938
2019-04-01 $272,511 (1.9%) $331,678 (0.5%) 0.87 929
2019-05-01 $274,000 (1.5%) $327,177 (-2.3%) 0.86 926
2019-06-01 $279,900 (3.7%) $343,417 (2.9%) 0.87 890
2019-07-01 $276,975 (2.1%) $346,622 (4.1%) 0.87 912
2019-08-01 $273,291 (3.2%) $355,464 (9.9%) 0.87 910
2019-09-01 $270,877 (2.2%) $372,185 (18.2%) 0.87 883
2019-10-01 $269,000 (0.0%) $362,538 (15.1%) 0.87 862
2019-11-01 $268,720 (1.4%) $346,284 (9.9%) 0.88 850
2019-12-01 $267,225 (0.8%) $336,752 (7.9%) 0.89 787
2020-01-01 $269,900 (1.9%) $338,652 (10.2%) 0.90 729
2020-02-01 $266,000 (-1.4%) $333,079 (5.3%) 0.87 684
2020-03-01 $269,900 (-0.5%) $344,811 (6.0%) 0.85 676
2020-04-01 $272,437 (0.0%) $339,845 (2.5%) 0.85 697
2020-05-01 $273,000 (-0.4%) $342,449 (4.7%) 0.83 622
2020-06-01 $277,200 (-1.0%) $440,931 (28.4%) 0.82 513
2020-07-01 $285,000 (2.9%) $440,957 (27.2%) 0.83 442
2020-08-01 $309,000 (13.1%) $476,515 (34.1%) 0.89 416
2020-09-01 $332,950 (22.9%) $452,255 (21.5%) 0.95 415
2020-10-01 $349,000 (29.7%) $449,075 (23.9%) 1.00 414
2020-11-01 $338,480 (26.0%) $452,308 (30.6%) 0.99 396
2020-12-01 $318,625 (19.2%) $436,185 (29.5%) 0.95 364
2021-01-01 $319,000 (18.2%) $451,091 (33.2%) 0.95 317
2021-02-01 $329,000 (23.7%) $463,826 (39.3%) 0.96 282
2021-03-01 $324,663 (20.3%) $454,861 (31.9%) 0.92 274
2021-04-01 $330,000 (21.1%) $473,927 (39.5%) 0.89 271
2021-05-01 $359,000 (31.5%) $507,931 (48.3%) 0.95 263
2021-06-01 $343,950 (24.1%) $510,077 (15.7%) 0.91 298
2021-07-01 $330,000 (15.8%) $491,610 (11.5%) 0.87 330
2021-08-01 $335,000 (8.4%) $486,655 (2.1%) 0.89 374
2021-09-01 $341,619 (2.6%) $484,483 (7.1%) 0.91 384
2021-10-01 $364,783 (4.5%) $513,888 (14.4%) 0.97 389
2021-11-01 $384,950 (13.7%) $569,679 (26.0%) 1.03 377
2021-12-01 $378,873 (18.9%) $594,009 (36.2%) 1.03 328
2022-01-01 $385,000 (20.7%) $597,943 (32.6%) 1.04 304
2022-02-01 $417,500 (26.9%) $638,929 (37.8%) 1.09 273
2022-03-01 $426,225 (31.3%) $647,020 (42.3%) 1.07 291
2022-04-01 $419,900 (27.2%) $616,341 (30.1%) 1.00 327
2022-05-01 $415,000 (15.6%) $549,202 (8.1%) 0.95 405
2022-06-01 $407,500 (18.5%) $529,385 (3.8%) 0.91 495
2022-07-01 $399,995 (21.2%) $527,849 (7.4%) 0.90 606
2022-08-01 $401,867 (20.0%) $525,670 (8.0%) 0.93 619
2022-09-01 $399,995 (17.1%) $525,273 (8.4%) 0.94 597
2022-10-01 $399,900 (9.6%) $512,212 (-0.3%) 0.94 635
2022-11-01 $399,675 (3.8%) $501,696 (-11.9%) 0.96 647
2022-12-01 $399,900 (5.6%) $503,160 (-15.3%) 0.99 595
2023-01-01 $403,750 (4.9%) $499,771 (-16.4%) 1.00 527
2023-02-01 $407,498 (-2.4%) $510,371 (-20.1%) 0.98 483
2023-03-01 $417,450 (-2.1%) $530,739 (-18.0%) 0.98 456
2023-04-01 $435,000 (3.6%) $550,611 (-10.7%) 1.01 407
2023-05-01 $439,450 (5.9%) $568,670 (3.5%) 1.00 407
2023-06-01 $433,500 (6.4%) $549,055 (3.7%) 0.97 433
2023-07-01 $429,999 (7.5%) $566,612 (7.3%) 0.98 440
2023-08-01 $404,900 (0.8%) $552,152 (5.0%) 0.93 456
2023-09-01 $396,000 (-1.0%) $523,749 (-0.3%) 0.92 481
2023-10-01 $394,975 (-1.2%) $512,872 (0.1%) 0.93 524
2023-11-01 $386,723 (-3.2%) $499,841 (-0.4%) 0.92 548
2023-12-01 $380,000 (-5.0%) $486,996 (-3.2%) 0.93 567
2024-01-01 $380,238 (-5.8%) $493,292 (-1.3%) 0.93 478
2024-02-01 $390,200 (-4.2%) $499,607 (-2.1%) 0.94 459
2024-03-01 $399,900 (-4.2%) $540,858 (1.9%) 0.94 446
Visalia's median listing price for 2024-03-01 was $399,900, a difference of $-17,550 (-4.2%) versus the prior year and $9,700 versus the prior month.

Visalia's median listing price comes in at 94% of the national average.

Visalia's average listing price for 2024-03-01 was $540,858, a difference of $10,119 (1.9%) versus the prior year and $41,251 versus the prior month.

For the 2024-03-01 period, Visalia had 446 MLS listings, a difference of -13 listings (-3%) versus the prior month and -10 listings (-2%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Visalia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 68 days 1,700 sqft
2018-02-01 62 days 1,764 sqft
2018-03-01 53 days 1,800 sqft
2018-04-01 52 days 1,823 sqft
2018-05-01 44 days 1,843 sqft
2018-06-01 51 days 1,834 sqft
2018-07-01 53 days 1,821 sqft
2018-08-01 51 days 1,800 sqft
2018-09-01 51 days 1,796 sqft
2018-10-01 53 days 1,798 sqft
2018-11-01 56 days 1,781 sqft
2018-12-01 68 days 1,798 sqft
2019-01-01 71 days 1,776 sqft
2019-02-01 65 days 1,798 sqft
2019-03-01 56 days 1,846 sqft
2019-04-01 53 days 1,853 sqft
2019-05-01 51 days 1,838 sqft
2019-06-01 54 days 1,879 sqft
2019-07-01 54 days 1,844 sqft
2019-08-01 52 days 1,822 sqft
2019-09-01 52 days 1,801 sqft
2019-10-01 52 days 1,777 sqft
2019-11-01 53 days 1,768 sqft
2019-12-01 61 days 1,773 sqft
2020-01-01 66 days 1,787 sqft
2020-02-01 52 days 1,715 sqft
2020-03-01 48 days 1,770 sqft
2020-04-01 52 days 1,770 sqft
2020-05-01 64 days 1,793 sqft
2020-06-01 69 days 1,841 sqft
2020-07-01 52 days 1,855 sqft
2020-08-01 47 days 1,920 sqft
2020-09-01 36 days 2,008 sqft
2020-10-01 37 days 1,995 sqft
2020-11-01 40 days 1,958 sqft
2020-12-01 44 days 1,873 sqft
2021-01-01 49 days 1,823 sqft
2021-02-01 39 days 1,827 sqft
2021-03-01 25 days 1,811 sqft
2021-04-01 27 days 1,802 sqft
2021-05-01 23 days 1,823 sqft
2021-06-01 22 days 1,794 sqft
2021-07-01 26 days 1,779 sqft
2021-08-01 26 days 1,693 sqft
2021-09-01 30 days 1,708 sqft
2021-10-01 37 days 1,784 sqft
2021-11-01 36 days 1,834 sqft
2021-12-01 42 days 1,791 sqft
2022-01-01 39 days 1,800 sqft
2022-02-01 31 days 1,905 sqft
2022-03-01 23 days 1,906 sqft
2022-04-01 25 days 1,859 sqft
2022-05-01 25 days 1,835 sqft
2022-06-01 29 days 1,805 sqft
2022-07-01 31 days 1,795 sqft
2022-08-01 45 days 1,795 sqft
2022-09-01 53 days 1,800 sqft
2022-10-01 54 days 1,796 sqft
2022-11-01 54 days 1,840 sqft
2022-12-01 61 days 1,790 sqft
2023-01-01 69 days 1,832 sqft
2023-02-01 63 days 1,844 sqft
2023-03-01 50 days 1,847 sqft
2023-04-01 51 days 1,911 sqft
2023-05-01 45 days 1,887 sqft
2023-06-01 36 days 1,855 sqft
2023-07-01 38 days 1,854 sqft
2023-08-01 46 days 1,800 sqft
2023-09-01 44 days 1,733 sqft
2023-10-01 51 days 1,715 sqft
2023-11-01 56 days 1,699 sqft
2023-12-01 60 days 1,695 sqft
2024-01-01 62 days 1,700 sqft
2024-02-01 48 days 1,739 sqft
2024-03-01 42 days 1,732 sqft
Visalia's median listing age (time on market) for 2024-03-01 was 42 days. This is -16% shorter than the same period one year ago.

Visalia's median square footage for active listings during the 2024-03-01 period was 1,732 sqft. One year prior, the average listing was 1,847 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).