Visalia FHA Loan Rates, Closing Costs & Stats

VISALIA, 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.

    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).