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 122 lenders originated 2,846 FHA loans during 2021. The total origination value was $706,840,000, with an average FHA loan value of $248,363.

Visalia FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Visalia averaged 6.5% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Visalia's average FHA mortgage closing costs are $8,717.

The average rate for the prior week (2022-11-25) was 6.61% and one month ago for the week of 2022-10-28, the average rate was 6.55%.

The average rate one year ago was 3.39%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.09%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
COUNTRY CLUB MORTGAGE, INC. 355 2.95% $10,164
KINGS MORTGAGE SERVICES, INC. 184 2.89% $9,692
QUICKEN LOANS, LLC 133 2.64% $6,983
CALIBER HOME LOANS, INC. 127 2.59% $9,352
FREEDOM MORTGAGE CORPORATION 126 2.75% $4,928
Commerce Home Mortgage, Inc. 96 2.90% $9,450
GUARANTEED RATE, INC. 71 2.96% $10,312
CROSSCOUNTRY MORTGAGE, LLC 70 3.10% $11,509
PENNYMAC LOAN SERVICES, LLC 68 3.03% $5,275
UNITED WHOLESALE MORTGAGE, LLC 66 2.78% $8,595
Platinum Home Mortgage Corporation 64 3.06% $12,781
Mr. Cooper ( Nationstar Mortgage ) 61 3.07% $5,060
RESIDENTIAL BANCORP. 59 3.28% $9,957
DHI MORTGAGE COMPANY, LTD. 53 2.73% $9,364
LAKEVIEW LOAN SERVICING, LLC 48 2.88% $5,169
FINANCE OF AMERICA MORTGAGE LLC 46 2.91% $10,557
Lakeview Community Capital, LLC 44 2.89% $4,944
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 44 3.33% $11,843
HOMEBRIDGE FINANCIAL SERVICES, INC. 40 2.75% $8,558
MLD MORTGAGE INC. 38 2.97% $8,939
MASON MCDUFFIE MORTGAGE CORPORATION 35 2.87% $8,134
HOME POINT FINANCIAL CORPORATION 32 2.82% $8,787
VILLAGE CAPITAL MORTGAGE 30 2.80% $2,713
AMERICAN PACIFIC MORTGAGE CORPORATION 29 3.07% $10,000
PRIMARY RESIDENTIAL MORTGAGE, INC. 27 3.28% $13,082
ALAMEDA MORTGAGE CORPORATION 23 3.16% $9,663
Carrington Mortgage Services, LLC 20 3.06% $7,917
NEWREZ LLC 18 2.81% $4,980
VERITAS FUNDING, LLC 18 2.97% $9,402
PLAZA HOME MORTGAGE, INC. 16 3.04% $7,823
AmeriHome Mortgage Company, LLC 15 2.87% $4,796
Hometown Equity Mortgage, LLC 14 3.17% $9,687
LOANDEPOT.COM, LLC 14 3.07% $8,999
EAGLE HOME MORTGAGE, LLC 13 3.19% $9,829
BROKER SOLUTIONS, INC. 12 3.10% $8,655
Amerifirst Financial, Inc. 11 3.30% $9,920
GUILD MORTGAGE COMPANY 11 3.13% $9,254
AMERISAVE MORTGAGE CORPORATION 10 2.90% $10,013
AMERICAN FINANCIAL NETWORK, INC. 10 3.03% $12,864
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 3.76% $10,179
Sierra Pacific Mortgage Company, Inc. 9 2.88% $10,202
PLANET HOME LENDING, LLC 8 3.05% $5,625
SUMMIT FUNDING, INC. 8 3.20% $10,078
InterContinental Capital Group, Inc 8 2.75% $8,015
NATIONS DIRECT MORTGAGE, LLC 7 2.84% $10,835
Equity Prime Mortgage LLC 7 2.73% $12,213
First Guaranty Mortgage Corporation 7 2.79% $6,599
Golden Empire Mortgage, Inc. 7 3.02% $10,286
SUN WEST MORTGAGE COMPANY, INC. 7 3.07% $7,404
Nations Lending Corporation 7 2.98% $9,506
Paramount Residential Mortgage Group, Inc. 5 3.08% $9,922
MOUNTAIN WEST FINANCIAL, INC. 5 3.80% $11,487
AMERICAN FINANCING CORPORATION 5 2.53% $7,372
LOANPAL, LLC 4 2.69% $9,484
ENVOY MORTGAGE, LTD 4 3.44% $10,022
HOME APPROVALS DIRECT, INC. 4 3.16% $9,942
SOVEREIGN LENDING GROUP INCORPORATED 3 2.96% $8,418
ACADEMY MORTGAGE CORPORATION 3 2.79% $10,153
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 2.54% $10,970
BAY EQUITY LLC 3 3.24% $8,079
CMG MORTGAGE, INC. 3 2.83% $8,551
FBC MORTGAGE, LLC 3 2.79% $7,248
OCMBC, INC. 3 3.58% $6,855
RANLIFE, INC. 3 3.25% $8,334
RESIDENTIAL WHOLESALE MORTGAGE, INC. 3 2.92% $10,494
STEARNS LENDING, LLC 3 2.71% $7,748
TOP FLITE FINANCIAL, INC. 3 3.38% $15,142
WESTERN EXPRESS LENDING 3 2.71% $9,208
MUTUAL OF OMAHA MORTGAGE, INC. 2 2.69% $7,733
Residential Mortgage Solutions, Inc. 2 2.88% $7,632
OCEANSIDE MORTGAGE COMPANY 2 2.50% $3,465
MID AMERICA MORTGAGE, INC. 2 2.56% $1,730
The Federal Savings Bank 2 2.50% $10,345
PANORAMA MORTGAGE GROUP, LLC 2 3.38% $9,308
Home Mortgage Alliance Corp 2 3.35% $9,876
UNITED SECURITY FINANCIAL CORP 2 2.69% $4,039
HOMESIDE FINANCIAL, LLC 2 2.75% $6,655
LADERA LENDING, INC. 2 3.19% $8,846
CORNERSTONE HOME LENDING, INC. 2 3.06% $10,699
JAMES B. NUTTER & COMPANY 2 2.81% $3,451
EMBRACE HOME LOANS, INC. 2 2.56% $9,510
LOANLEADERS OF AMERICA, INC. 2 2.75% $7,596
INTELLILOAN, INC. 2 3.44% $26,753
DIRECT MORTGAGE, CORP. 1 2.75% $17,349
COMMUNITY MORTGAGE FUNDING, LLC 1 3.63% $8,218
CLEARPATH LENDING 1 2.75% $6,243
CHURCHILL MORTGAGE CORPORATION 1 3.13% $10,525
PREMIER LENDING, INC. 1 3.13% $9,164
PREMIER MORTGAGE RESOURCES, L.L.C. 1 3.25% $12,076
Chickasaw Community Bank 1 2.38% $6,370
CENTRAL COAST LENDING, INC. 1 2.25% $8,789
Ameris Bank 1 2.50% $7,518
CALCULATED RISK ANALYTICS LLC 1 2.38% $8,495
AMERICAN FINANCIAL RESOURCES, INC. 1 3.25% $9,671
S1L, Inc. 1 2.38% $13,724
SECURITYNATIONAL MORTGAGE COMPANY 1 3.63% $9,081
BEST CAPITAL FUNDING 1 3.50% $8,511
SNAPFI, INC. 1 2.88% $8,823
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.38% $5,919
ZILLOW HOME LOANS, LLC 1 2.88% $8,742
Strong Home Mortgage, LLC 1 2.25% $6,636
Barrington Bank & Trust Company, N.A. 1 3.00% $10,738
Bank of America 1 2.88% $12,649
WINNPOINTE CORPORATION 1 2.88% $5,963
United Fidelity Funding Corp. 1 3.00% $10,892
JMAC LENDING, INC. 1 3.13% $5,564
ISERVE RESIDENTIAL LENDING, LLC 1 2.88% $6,585
Axos Bank 1 3.63% $5,724
MICHIGAN MUTUAL, INC. 1 2.88% $7,394
MORIA DEVELOPMENT, INC. 1 3.00% $8,733
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 2.63% $9,338
GUARANTEED RATE AFFINITY, LLC 1 2.25% $9,427
MOVEMENT MORTGAGE, LLC 1 3.13% $0
GREATER NEVADA LLC 1 3.50% $6,416
MUFG Union Bank 1 3.13% $7,186
Flagstar Bank, FSB 1 2.75% $7,758
EVERGREEN MONEYSOURCE MORTGAGE COMPANY 1 3.13% $11,552
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.13% $8,794
NBH Bank 1 3.00% $7,838
NEW DAY FINANCIAL, LLC 1 3.25% $3,974
NP, Inc. 1 2.75% $10,101
U.S. Bank 1 2.63% $8,399

The top Visalia FHA lender as defined by loan originations is COUNTRY CLUB MORTGAGE, INC., with 355 FHA loans originated. Their average total fees are $10,164, which is $473 higher than the next largest lender, KINGS MORTGAGE SERVICES, INC..

The lowest fee Visalia FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,713), AmeriHome Mortgage Company, LLC ($4,796), FREEDOM MORTGAGE CORPORATION ($4,928), Lakeview Community Capital, LLC ($4,944) and NEWREZ LLC ($4,980).

The lowest rate Visalia FHA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (2.59%), QUICKEN LOANS, LLC (2.64%), DHI MORTGAGE COMPANY, LTD. (2.73%), FREEDOM MORTGAGE CORPORATION (2.75%) and HOMEBRIDGE FINANCIAL SERVICES, INC. (2.75%).

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

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 (-1.0%) $314,823 (-1.4%) 0.90 861
2018-02-01 $249,971 (0.2%) $314,519 (-2.2%) 0.91 873
2018-03-01 $257,500 (3.0%) $318,901 (-0.7%) 0.90 855
2018-04-01 $267,450 (7.0%) $329,977 (0.8%) 0.91 838
2018-05-01 $269,998 (4.2%) $334,434 (1.0%) 0.90 889
2018-06-01 $269,900 (4.2%) $333,477 (3.0%) 0.90 904
2018-07-01 $271,203 (4.7%) $332,819 (1.8%) 0.90 948
2018-08-01 $264,900 (6.2%) $323,124 (2.2%) 0.89 997
2018-09-01 $265,000 (8.2%) $314,451 (-0.3%) 0.89 1,035
2018-10-01 $268,975 (8.0%) $314,837 (-0.5%) 0.91 1,061
2018-11-01 $265,000 (7.1%) $314,972 (0.5%) 0.90 1,051
2018-12-01 $265,000 (7.8%) $311,920 (-1.4%) 0.91 1,017
2019-01-01 $264,900 (9.3%) $306,962 (-2.5%) 0.91 981
2019-02-01 $269,900 (8.0%) $316,044 (0.5%) 0.91 956
2019-03-01 $271,229 (5.3%) $325,065 (1.9%) 0.89 939
2019-04-01 $272,336 (1.8%) $331,089 (0.3%) 0.86 930
2019-05-01 $274,000 (1.5%) $328,506 (-1.8%) 0.86 928
2019-06-01 $279,900 (3.7%) $345,217 (3.5%) 0.87 893
2019-07-01 $277,000 (2.1%) $347,230 (4.3%) 0.87 916
2019-08-01 $273,291 (3.2%) $355,428 (10.0%) 0.87 914
2019-09-01 $270,877 (2.2%) $371,723 (18.2%) 0.87 888
2019-10-01 $269,000 (0.0%) $361,967 (15.0%) 0.87 867
2019-11-01 $268,540 (1.3%) $345,823 (9.8%) 0.88 855
2019-12-01 $267,225 (0.8%) $336,733 (8.0%) 0.89 791
2020-01-01 $269,900 (1.9%) $338,915 (10.4%) 0.90 732
2020-02-01 $266,000 (-1.4%) $333,078 (5.4%) 0.87 688
2020-03-01 $269,900 (-0.5%) $344,858 (6.1%) 0.85 679
2020-04-01 $272,500 (0.1%) $344,758 (4.1%) 0.85 703
2020-05-01 $274,900 (0.3%) $349,532 (6.4%) 0.84 629
2020-06-01 $278,100 (-0.6%) $449,037 (30.1%) 0.82 519
2020-07-01 $285,000 (2.9%) $449,697 (29.5%) 0.83 448
2020-08-01 $309,900 (13.4%) $484,909 (36.4%) 0.89 422
2020-09-01 $335,400 (23.8%) $461,689 (24.2%) 0.96 421
2020-10-01 $349,000 (29.7%) $457,868 (26.5%) 1.00 421
2020-11-01 $338,500 (26.1%) $461,705 (33.5%) 0.99 403
2020-12-01 $322,475 (20.7%) $446,021 (32.5%) 0.96 371
2021-01-01 $319,500 (18.4%) $463,149 (36.7%) 0.95 323
2021-02-01 $329,000 (23.7%) $476,780 (43.1%) 0.96 289
2021-03-01 $324,900 (20.4%) $467,610 (35.6%) 0.92 281
2021-04-01 $330,000 (21.1%) $485,977 (41.0%) 0.89 278
2021-05-01 $359,000 (30.6%) $507,345 (45.2%) 0.95 267
2021-06-01 $342,713 (23.2%) $508,173 (13.2%) 0.90 302
2021-07-01 $330,000 (15.8%) $490,182 (9.0%) 0.87 334
2021-08-01 $333,750 (7.7%) $486,456 (0.3%) 0.89 376
2021-09-01 $341,619 (1.9%) $484,578 (5.0%) 0.91 386
2021-10-01 $364,565 (4.5%) $513,070 (12.1%) 0.97 391
2021-11-01 $384,578 (13.6%) $568,397 (23.1%) 1.03 380
2021-12-01 $378,250 (17.3%) $592,327 (32.8%) 1.03 331
2022-01-01 $385,000 (20.5%) $597,105 (28.9%) 1.04 306
2022-02-01 $416,748 (26.7%) $636,494 (33.5%) 1.08 276
2022-03-01 $425,000 (30.8%) $644,653 (37.9%) 1.06 294
2022-04-01 $419,450 (27.1%) $614,521 (26.5%) 1.00 330
2022-05-01 $414,235 (15.4%) $548,250 (8.1%) 0.95 408
2022-06-01 $407,500 (18.9%) $528,738 (4.1%) 0.91 498
2022-07-01 $399,990 (21.2%) $527,239 (7.6%) 0.91 609
2022-08-01 $401,466 (20.3%) $525,097 (7.9%) 0.93 622
2022-09-01 $399,993 (17.1%) $524,685 (8.3%) 0.94 600
2022-10-01 $399,900 (9.7%) $511,721 (-0.3%) 0.94 638
2022-11-01 $399,450 (3.9%) $501,254 (-11.8%) 0.96 650
Visalia's median listing price for 2022-11-01 was $399,450, a difference of $14,872 (3.9%) versus the prior year and $-450 versus the prior month.

Visalia's median listing price comes in at 96% of the national average.

Visalia's average listing price for 2022-11-01 was $501,254, a difference of $-67,143 (-11.8%) versus the prior year and $-10,467 versus the prior month.

For the 2022-11-01 period, Visalia had 650 MLS listings, a difference of 12 listings (2%) versus the prior month and 270 listings (71%) 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 73 days 1,701 sqft
2018-02-01 66 days 1,768 sqft
2018-03-01 58 days 1,804 sqft
2018-04-01 57 days 1,829 sqft
2018-05-01 47 days 1,848 sqft
2018-06-01 53 days 1,838 sqft
2018-07-01 57 days 1,824 sqft
2018-08-01 54 days 1,800 sqft
2018-09-01 55 days 1,798 sqft
2018-10-01 57 days 1,799 sqft
2018-11-01 58 days 1,781 sqft
2018-12-01 73 days 1,800 sqft
2019-01-01 75 days 1,777 sqft
2019-02-01 72 days 1,799 sqft
2019-03-01 66 days 1,846 sqft
2019-04-01 58 days 1,853 sqft
2019-05-01 54 days 1,841 sqft
2019-06-01 59 days 1,880 sqft
2019-07-01 60 days 1,842 sqft
2019-08-01 56 days 1,819 sqft
2019-09-01 55 days 1,800 sqft
2019-10-01 55 days 1,780 sqft
2019-11-01 58 days 1,771 sqft
2019-12-01 66 days 1,782 sqft
2020-01-01 70 days 1,789 sqft
2020-02-01 57 days 1,728 sqft
2020-03-01 52 days 1,774 sqft
2020-04-01 57 days 1,771 sqft
2020-05-01 66 days 1,793 sqft
2020-06-01 79 days 1,841 sqft
2020-07-01 59 days 1,853 sqft
2020-08-01 53 days 1,907 sqft
2020-09-01 41 days 2,004 sqft
2020-10-01 42 days 1,981 sqft
2020-11-01 44 days 1,955 sqft
2020-12-01 47 days 1,870 sqft
2021-01-01 53 days 1,823 sqft
2021-02-01 49 days 1,822 sqft
2021-03-01 30 days 1,810 sqft
2021-04-01 32 days 1,799 sqft
2021-05-01 29 days 1,822 sqft
2021-06-01 25 days 1,800 sqft
2021-07-01 30 days 1,779 sqft
2021-08-01 29 days 1,695 sqft
2021-09-01 31 days 1,711 sqft
2021-10-01 39 days 1,786 sqft
2021-11-01 39 days 1,835 sqft
2021-12-01 44 days 1,794 sqft
2022-01-01 44 days 1,801 sqft
2022-02-01 32 days 1,910 sqft
2022-03-01 23 days 1,906 sqft
2022-04-01 26 days 1,861 sqft
2022-05-01 26 days 1,837 sqft
2022-06-01 30 days 1,808 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 55 days 1,800 sqft
2022-11-01 57 days 1,840 sqft
Visalia's median listing age (time on market) for 2022-11-01 was 57 days. This is 47% longer than the same period one year ago.

Visalia's median square footage for active listings during the 2022-11-01 period was 1,840 sqft. One year prior, the average listing was 1,835 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).