Wenatchee FHA Loans
WENATCHEE, WA
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.
Wenatchee's 57 lenders originated 374 FHA loans during 2021. The total origination value was $106,190,000, with an average FHA loan value of $283,930.
Wenatchee FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Wenatchee
averaged
5.15%
for the week of 2022-05-20, compared to the national average (all FHA variants) of
5.352% for the same period.
The average rate for the prior week (2022-05-13) was
5.45% and
one month ago for the week of 2022-04-15, the
average rate was 5.04%.
The average rate one year ago was 3.11%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.2%.
Wenatchee 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 Wenatchee level.
The top Wenatchee FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
39 FHA loans originated. Their average total fees are
$9,505, which is $288
lower than the next largest lender,
CALIBER HOME LOANS, INC..
The lowest fee Wenatchee FHA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($4,919), QUICKEN LOANS, LLC ($7,964), GUILD MORTGAGE COMPANY ($9,505), CALIBER HOME LOANS, INC. ($9,793) and Wheatland Bank ($10,261).
The lowest rate Wenatchee FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.58%), FINANCE OF AMERICA MORTGAGE LLC (2.97%), GUILD MORTGAGE COMPANY (2.97%), LAKEVIEW LOAN SERVICING, LLC (3.01%) and Wheatland Bank (3.11%).
Wenatchee FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
WENATCHEE, WA | CHELAN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
WENATCHEE, WA | DOUGLAS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Wenatchee (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $399,450 (15.3%) | $495,382 (-0.4%) | 0.00 | 363 |
2018-02-01 | $401,950 (15.9%) | $509,692 (4.5%) | 0.00 | 358 |
2018-03-01 | $419,000 (16.6%) | $536,836 (8.2%) | 0.00 | 352 |
2018-04-01 | $427,000 (17.0%) | $546,654 (9.6%) | 0.00 | 367 |
2018-05-01 | $419,900 (7.0%) | $542,601 (5.4%) | 0.00 | 458 |
2018-06-01 | $449,000 (12.3%) | $571,288 (7.4%) | 0.00 | 520 |
2018-07-01 | $446,500 (11.7%) | $557,332 (4.6%) | 0.00 | 618 |
2018-08-01 | $442,200 (10.8%) | $555,524 (6.7%) | 0.00 | 642 |
2018-09-01 | $449,000 (12.3%) | $562,412 (7.5%) | 0.00 | 675 |
2018-10-01 | $434,000 (8.8%) | $563,681 (7.1%) | 0.00 | 649 |
2018-11-01 | $402,900 (2.0%) | $544,507 (7.1%) | 0.00 | 582 |
2018-12-01 | $389,890 (0.2%) | $529,739 (7.0%) | 0.00 | 491 |
2019-01-01 | $384,950 (-3.6%) | $530,097 (7.0%) | 0.00 | 435 |
2019-02-01 | $391,975 (-2.5%) | $535,255 (5.0%) | 0.00 | 426 |
2019-03-01 | $399,900 (-4.6%) | $553,121 (3.0%) | 0.00 | 405 |
2019-04-01 | $409,900 (-4.0%) | $563,671 (3.1%) | 0.00 | 403 |
2019-05-01 | $436,500 (4.0%) | $597,210 (10.1%) | 0.00 | 477 |
2019-06-01 | $444,000 (-1.1%) | $598,232 (4.7%) | 0.00 | 549 |
2019-07-01 | $444,450 (-0.5%) | $581,005 (4.3%) | 0.00 | 590 |
2019-08-01 | $441,407 (-0.2%) | $580,553 (4.5%) | 0.00 | 601 |
2019-09-01 | $448,882 (0.0%) | $578,103 (2.8%) | 0.00 | 596 |
2019-10-01 | $434,500 (0.1%) | $558,552 (-0.9%) | 0.00 | 603 |
2019-11-01 | $435,000 (8.0%) | $569,092 (4.5%) | 0.00 | 549 |
2019-12-01 | $439,900 (12.8%) | $568,975 (7.4%) | 0.00 | 470 |
2020-01-01 | $453,950 (17.9%) | $572,090 (7.9%) | 0.00 | 383 |
2020-02-01 | $465,000 (18.6%) | $575,649 (7.6%) | 0.00 | 353 |
2020-03-01 | $457,000 (14.3%) | $563,643 (1.9%) | 0.00 | 405 |
2020-04-01 | $434,700 (6.1%) | $543,010 (-3.7%) | 0.00 | 414 |
2020-05-01 | $464,000 (6.3%) | $563,406 (-5.7%) | 0.00 | 463 |
2020-06-01 | $447,500 (0.8%) | $550,511 (-8.0%) | 0.00 | 438 |
2020-07-01 | $447,900 (0.8%) | $551,064 (-5.2%) | 0.00 | 382 |
2020-08-01 | $464,900 (5.3%) | $579,560 (-0.2%) | 0.00 | 325 |
2020-09-01 | $452,000 (0.7%) | $567,458 (-1.8%) | 0.00 | 323 |
2020-10-01 | $449,900 (3.5%) | $560,475 (0.3%) | 0.00 | 310 |
2020-11-01 | $413,950 (-4.8%) | $530,893 (-6.7%) | 0.00 | 257 |
2020-12-01 | $417,450 (-5.1%) | $535,876 (-5.8%) | 0.00 | 202 |
2021-01-01 | $434,995 (-4.2%) | $571,659 (-0.1%) | 0.00 | 154 |
2021-02-01 | $418,400 (-10.0%) | $608,386 (5.7%) | 0.00 | 124 |
2021-03-01 | $436,950 (-4.4%) | $632,689 (12.3%) | 0.00 | 129 |
2021-04-01 | $452,400 (4.1%) | $643,244 (18.5%) | 0.00 | 135 |
2021-05-01 | $489,900 (5.6%) | $683,572 (21.3%) | 0.00 | 151 |
2021-06-01 | $529,475 (18.3%) | $747,461 (35.8%) | 0.00 | 178 |
2021-07-01 | $579,450 (29.4%) | $792,138 (43.8%) | 0.00 | 214 |
2021-08-01 | $547,500 (17.8%) | $770,976 (33.0%) | 0.00 | 254 |
2021-09-01 | $559,000 (23.7%) | $773,946 (36.4%) | 0.00 | 287 |
2021-10-01 | $559,000 (24.3%) | $790,253 (41.0%) | 0.00 | 312 |
2021-11-01 | $567,000 (37.0%) | $805,949 (51.8%) | 0.00 | 282 |
2021-12-01 | $594,000 (42.3%) | $866,811 (61.8%) | 0.00 | 230 |
2022-01-01 | $600,000 (37.9%) | $854,501 (49.5%) | 0.00 | 178 |
2022-02-01 | $621,900 (48.6%) | $863,247 (41.9%) | 0.00 | 112 |
2022-03-01 | $649,500 (48.6%) | $850,673 (34.5%) | 0.00 | 130 |
2022-04-01 | $649,000 (43.5%) | $849,986 (32.1%) | 0.00 | 155 |
Wenatchee's median listing price comes in at 0% of the national average.
Wenatchee's average listing price for 2022-04-01 was $849,986, a difference of $206,742 (32.1%) versus the prior year and $-687 versus the prior month.
For the 2022-04-01 period, Wenatchee had 155 MLS listings, a difference of 25 listings (19%) versus the prior month and 20 listings (15%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Wenatchee (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,030 sqft |
2018-02-01 | 0 days | 2,013 sqft |
2018-03-01 | 0 days | 1,992 sqft |
2018-04-01 | 0 days | 1,963 sqft |
2018-05-01 | 0 days | 1,987 sqft |
2018-06-01 | 0 days | 2,035 sqft |
2018-07-01 | 0 days | 2,025 sqft |
2018-08-01 | 0 days | 1,995 sqft |
2018-09-01 | 0 days | 1,986 sqft |
2018-10-01 | 0 days | 2,026 sqft |
2018-11-01 | 0 days | 1,985 sqft |
2018-12-01 | 0 days | 1,920 sqft |
2019-01-01 | 0 days | 1,910 sqft |
2019-02-01 | 0 days | 1,884 sqft |
2019-03-01 | 0 days | 1,938 sqft |
2019-04-01 | 0 days | 2,028 sqft |
2019-05-01 | 0 days | 2,046 sqft |
2019-06-01 | 0 days | 2,016 sqft |
2019-07-01 | 0 days | 2,148 sqft |
2019-08-01 | 0 days | 2,088 sqft |
2019-09-01 | 0 days | 2,021 sqft |
2019-10-01 | 0 days | 1,964 sqft |
2019-11-01 | 0 days | 1,924 sqft |
2019-12-01 | 0 days | 1,889 sqft |
2020-01-01 | 0 days | 1,909 sqft |
2020-02-01 | 0 days | 1,919 sqft |
2020-03-01 | 0 days | 1,908 sqft |
2020-04-01 | 0 days | 1,907 sqft |
2020-05-01 | 0 days | 1,824 sqft |
2020-06-01 | 0 days | 1,900 sqft |
2020-07-01 | 0 days | 2,024 sqft |
2020-08-01 | 0 days | 2,080 sqft |
2020-09-01 | 0 days | 2,142 sqft |
2020-10-01 | 0 days | 2,079 sqft |
2020-11-01 | 0 days | 1,956 sqft |
2020-12-01 | 0 days | 1,871 sqft |
2021-01-01 | 0 days | 1,916 sqft |
2021-02-01 | 0 days | 1,883 sqft |
2021-03-01 | 0 days | 1,872 sqft |
2021-04-01 | 0 days | 1,935 sqft |
2021-05-01 | 0 days | 1,993 sqft |
2021-06-01 | 0 days | 1,985 sqft |
2021-07-01 | 0 days | 2,068 sqft |
2021-08-01 | 0 days | 2,092 sqft |
2021-09-01 | 0 days | 2,097 sqft |
2021-10-01 | 0 days | 2,178 sqft |
2021-11-01 | 0 days | 2,136 sqft |
2021-12-01 | 0 days | 2,224 sqft |
2022-01-01 | 0 days | 2,253 sqft |
2022-02-01 | 0 days | 2,047 sqft |
2022-03-01 | 0 days | 2,066 sqft |
2022-04-01 | 0 days | 2,052 sqft |
Wenatchee's median square footage for active listings during the 2022-04-01 period was 2,052 sqft. One year prior, the average listing was 1,935 sqft.