Yuma FHA Loan Rates, Closing Costs & Stats

YUMA, AZ

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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.

    Yuma's 56 lenders originated 910 FHA loans during 2023. The total origination value was $220,100,000, with an average FHA loan value of $241,868.

    Yuma FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Yuma averaged 6.85% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Yuma's average FHA mortgage closing costs are $7,504.

    The average rate for the prior week (2024-04-12) was 6.84% and one month ago for the week of 2024-03-15, the average rate was 6.71%.

    The average rate one year ago was 6.24%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.94%.

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

    Yuma 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 Yuma level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 229 6.23% $12,901
    NOVA FINANCIAL & INVESTMENT CORPORATION 182 6.57% $7,217
    ACADEMY MORTGAGE CORPORATION 76 6.18% $8,359
    CROSSCOUNTRY MORTGAGE, LLC 62 6.36% $12,252
    GUILD MORTGAGE COMPANY 52 7.02% $12,196
    QUICKEN LOANS, LLC 45 6.28% $11,961
    GENEVA FINANCIAL, LLC 33 6.78% $13,401
    SECURITYNATIONAL MORTGAGE COMPANY 19 6.99% $12,809
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 6.43% $13,577
    OCMBC, INC. 12 7.14% $15,066
    CMG MORTGAGE, INC. 12 6.81% $14,276
    LOANDEPOT.COM, LLC 11 6.36% $13,162
    PENNYMAC LOAN SERVICES, LLC 9 6.62% $15,575
    Gateway First Bank 9 6.61% $7,656
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 8 6.56% $9,806
    FREEDOM MORTGAGE CORPORATION 6 7.00% $13,024
    SUN WEST MORTGAGE COMPANY, INC. 6 6.60% $13,016
    Mr. Cooper ( Nationstar Mortgage ) 6 6.15% $15,093
    BROKER SOLUTIONS, INC. 6 6.06% $13,996
    AMERICAN FINANCIAL NETWORK, INC. 5 7.18% $14,302
    Equity Prime Mortgage LLC 5 6.75% $12,114
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.95% $11,505
    LOANPAL, LLC 5 5.63% $17,769
    RESIDENTIAL BANCORP 4 7.22% $10,053
    NEWREZ LLC 4 6.63% $10,427
    FIRST ALLIANCE HOME MORTGAGE, LLC 4 6.97% $13,561
    Paramount Residential Mortgage Group, Inc. 3 6.37% $18,313
    AMERISAVE MORTGAGE CORPORATION 3 5.67% $16,347
    CARDINAL FINANCIAL 3 6.42% $8,610
    Carrington Mortgage Services, LLC 3 6.54% $11,828
    Flagstar Bank, FSB 2 6.19% $17,420
    AMERICAN FINANCIAL RESOURCES, INC. 2 7.50% $8,029
    MID AMERICA MORTGAGE, INC. 2 7.81% $8,227
    Neighborhood Loans, Inc. 2 6.44% $11,471
    LAKEVIEW LOAN SERVICING, LLC 1 5.63% $9,492
    Lakeview Community Capital, LLC 1 5.75% $9,377
    LADERA LENDING, INC. 1 6.63% $8,592
    ON Q FINANCIAL, INC. 1 6.75% $10,927
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.63% $9,425
    Ixonia Bank 1 5.88% $11,804
    GUARANTEED RATE, INC. 1 7.50% $11,020
    Prosperity Home Mortgage, LLC 1 6.99% $12,077
    CORNERSTONE HOME LENDING, INC. 1 6.25% $13,615
    CITYWIDE HOME LOANS, LLC 1 6.25% $12,541
    CALCON MUTUAL MORTGAGE LLC 1 7.13% $8,789
    Boeing Employees Credit Union 1 6.25% $7,653
    SUMMIT FUNDING, INC. 1 6.75% $12,745
    AMERICAN FINANCING CORPORATION 1 5.88% $8,571
    The Federal Savings Bank 1 5.63% $24,896
    TOP FLITE FINANCIAL, INC. 1 6.75% $19,055
    Wallick & Volk, Inc. 1 6.75% $21,089
    Mortgage Research Center, LLC 1 7.38% $9,815
    Wells Fargo Bank 1 6.88% $8,156
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $9,742
    NATIONS DIRECT MORTGAGE, LLC 1 7.25% $9,120
    NEW DAY FINANCIAL, LLC 1 7.00% $8,030

    The top Yuma FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 229 FHA loans originated. Their average total fees are $12,901, which is $5,684 higher than the next largest lender, NOVA FINANCIAL & INVESTMENT CORPORATION.

    The lowest fee Yuma FHA lenders (with over 10 loans originated) are NOVA FINANCIAL & INVESTMENT CORPORATION ($7,217), ACADEMY MORTGAGE CORPORATION ($8,359), QUICKEN LOANS, LLC ($11,961), GUILD MORTGAGE COMPANY ($12,196) and CROSSCOUNTRY MORTGAGE, LLC ($12,252).

    The lowest rate Yuma FHA lenders (with over 10 loans originated) are ACADEMY MORTGAGE CORPORATION (6.18%), UNITED WHOLESALE MORTGAGE, LLC (6.23%), QUICKEN LOANS, LLC (6.28%), LOANDEPOT.COM, LLC (6.36%) and CROSSCOUNTRY MORTGAGE, LLC (6.36%).

    Yuma FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Yuma (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 $191,100 (0.6%) $221,576 (0.3%) 0.71 807
    2018-02-01 $195,000 (0.3%) $224,779 (-0.3%) 0.71 784
    2018-03-01 $199,000 (-0.2%) $226,613 (-0.2%) 0.70 763
    2018-04-01 $199,850 (1.9%) $229,462 (0.6%) 0.68 704
    2018-05-01 $208,788 (4.8%) $231,748 (-0.1%) 0.70 649
    2018-06-01 $206,187 (4.2%) $230,336 (0.3%) 0.69 628
    2018-07-01 $205,000 (2.6%) $230,138 (-1.2%) 0.68 595
    2018-08-01 $214,000 (7.1%) $234,369 (0.6%) 0.72 599
    2018-09-01 $217,912 (9.0%) $235,240 (2.0%) 0.73 659
    2018-10-01 $217,431 (4.6%) $235,484 (2.6%) 0.74 666
    2018-11-01 $217,500 (8.8%) $237,812 (6.4%) 0.74 690
    2018-12-01 $220,000 (12.9%) $234,564 (6.4%) 0.76 681
    2019-01-01 $219,900 (15.1%) $235,306 (6.2%) 0.76 681
    2019-02-01 $222,862 (14.3%) $242,243 (7.8%) 0.75 690
    2019-03-01 $225,393 (13.3%) $244,395 (7.9%) 0.74 662
    2019-04-01 $225,943 (13.1%) $245,717 (7.1%) 0.72 639
    2019-05-01 $220,950 (5.8%) $248,278 (7.1%) 0.69 627
    2019-06-01 $224,900 (9.1%) $251,413 (9.2%) 0.70 589
    2019-07-01 $226,500 (10.5%) $256,125 (11.3%) 0.71 533
    2019-08-01 $229,109 (7.1%) $259,451 (10.7%) 0.73 533
    2019-09-01 $227,923 (4.6%) $258,542 (9.9%) 0.73 538
    2019-10-01 $227,582 (4.7%) $259,009 (10.0%) 0.73 541
    2019-11-01 $229,900 (5.7%) $258,637 (8.8%) 0.75 560
    2019-12-01 $227,373 (3.4%) $256,167 (9.2%) 0.76 555
    2020-01-01 $219,450 (-0.2%) $248,519 (5.6%) 0.73 552
    2020-02-01 $224,900 (0.9%) $255,663 (5.5%) 0.74 509
    2020-03-01 $239,913 (6.4%) $267,098 (9.3%) 0.75 461
    2020-04-01 $237,950 (5.3%) $264,014 (7.5%) 0.75 454
    2020-05-01 $239,900 (8.6%) $261,809 (5.5%) 0.73 355
    2020-06-01 $232,600 (3.4%) $264,209 (5.1%) 0.69 271
    2020-07-01 $242,879 (7.2%) $282,201 (10.2%) 0.70 225
    2020-08-01 $229,900 (0.4%) $284,749 (9.8%) 0.66 190
    2020-09-01 $227,450 (-0.2%) $294,144 (13.8%) 0.65 194
    2020-10-01 $210,900 (-7.3%) $281,133 (8.5%) 0.60 207
    2020-11-01 $231,250 (0.6%) $291,215 (12.6%) 0.68 201
    2020-12-01 $229,508 (0.9%) $290,015 (13.2%) 0.68 199
    2021-01-01 $240,000 (9.4%) $293,787 (18.2%) 0.72 172
    2021-02-01 $246,850 (9.8%) $301,900 (18.1%) 0.72 165
    2021-03-01 $256,175 (6.8%) $297,999 (11.6%) 0.73 160
    2021-04-01 $260,888 (9.6%) $317,525 (20.3%) 0.71 145
    2021-05-01 $279,900 (16.7%) $335,538 (28.2%) 0.74 139
    2021-06-01 $281,975 (21.2%) $324,819 (22.9%) 0.74 147
    2021-07-01 $281,450 (15.9%) $326,385 (15.7%) 0.74 203
    2021-08-01 $270,200 (17.5%) $314,996 (10.6%) 0.72 209
    2021-09-01 $271,000 (19.2%) $313,151 (6.5%) 0.72 201
    2021-10-01 $279,250 (32.4%) $331,984 (18.1%) 0.74 184
    2021-11-01 $279,500 (20.9%) $331,982 (14.0%) 0.75 172
    2021-12-01 $280,000 (22.0%) $332,596 (14.7%) 0.76 166
    2022-01-01 $285,741 (19.1%) $336,976 (14.7%) 0.77 152
    2022-02-01 $296,450 (20.1%) $337,175 (11.7%) 0.77 151
    2022-03-01 $299,625 (17.0%) $339,100 (13.8%) 0.75 150
    2022-04-01 $315,000 (20.7%) $362,252 (14.1%) 0.75 169
    2022-05-01 $309,724 (10.7%) $363,769 (8.4%) 0.71 212
    2022-06-01 $302,128 (7.2%) $354,112 (9.0%) 0.67 269
    2022-07-01 $310,130 (10.2%) $353,713 (8.4%) 0.70 314
    2022-08-01 $311,440 (15.3%) $360,023 (14.3%) 0.72 342
    2022-09-01 $315,000 (16.2%) $365,030 (16.6%) 0.74 362
    2022-10-01 $311,440 (11.5%) $359,317 (8.2%) 0.73 393
    2022-11-01 $309,640 (10.8%) $349,630 (5.3%) 0.74 399
    2022-12-01 $305,000 (8.9%) $349,224 (5.0%) 0.75 370
    2023-01-01 $299,800 (4.9%) $346,910 (3.0%) 0.74 337
    2023-02-01 $303,939 (2.5%) $352,680 (4.6%) 0.73 306
    2023-03-01 $299,225 (-0.1%) $357,859 (5.5%) 0.71 267
    2023-04-01 $305,000 (-3.2%) $364,358 (0.6%) 0.71 242
    2023-05-01 $326,000 (5.3%) $371,628 (2.2%) 0.74 232
    2023-06-01 $346,275 (14.6%) $397,051 (12.1%) 0.78 232
    2023-07-01 $339,500 (9.5%) $390,631 (10.4%) 0.77 260
    2023-08-01 $335,475 (7.7%) $393,578 (9.3%) 0.77 257
    2023-09-01 $347,450 (10.3%) $392,087 (7.4%) 0.81 274
    2023-10-01 $342,450 (10.0%) $385,091 (7.2%) 0.81 375
    2023-11-01 $339,450 (9.6%) $396,775 (13.5%) 0.81 417
    2023-12-01 $330,000 (8.2%) $387,280 (10.9%) 0.80 420
    2024-01-01 $328,475 (9.6%) $379,129 (9.3%) 0.80 407
    2024-02-01 $337,425 (11.0%) $385,912 (9.4%) 0.81 395
    2024-03-01 $339,000 (13.3%) $386,307 (8.0%) 0.80 403
    Yuma's median listing price for 2024-03-01 was $339,000, a difference of $39,775 (13.3%) versus the prior year and $1,575 versus the prior month.

    Yuma's median listing price comes in at 80% of the national average.

    Yuma's average listing price for 2024-03-01 was $386,307, a difference of $28,448 (8.0%) versus the prior year and $395 versus the prior month.

    For the 2024-03-01 period, Yuma had 403 MLS listings, a difference of 8 listings (2%) versus the prior month and 136 listings (51%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Yuma (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 72 days 1,628 sqft
    2018-02-01 75 days 1,631 sqft
    2018-03-01 66 days 1,650 sqft
    2018-04-01 64 days 1,660 sqft
    2018-05-01 67 days 1,701 sqft
    2018-06-01 63 days 1,701 sqft
    2018-07-01 70 days 1,701 sqft
    2018-08-01 68 days 1,699 sqft
    2018-09-01 58 days 1,695 sqft
    2018-10-01 57 days 1,691 sqft
    2018-11-01 60 days 1,691 sqft
    2018-12-01 65 days 1,695 sqft
    2019-01-01 72 days 1,699 sqft
    2019-02-01 68 days 1,699 sqft
    2019-03-01 64 days 1,690 sqft
    2019-04-01 63 days 1,682 sqft
    2019-05-01 68 days 1,665 sqft
    2019-06-01 73 days 1,679 sqft
    2019-07-01 75 days 1,694 sqft
    2019-08-01 67 days 1,696 sqft
    2019-09-01 56 days 1,675 sqft
    2019-10-01 50 days 1,665 sqft
    2019-11-01 54 days 1,662 sqft
    2019-12-01 65 days 1,660 sqft
    2020-01-01 68 days 1,638 sqft
    2020-02-01 68 days 1,660 sqft
    2020-03-01 58 days 1,686 sqft
    2020-04-01 61 days 1,654 sqft
    2020-05-01 66 days 1,666 sqft
    2020-06-01 67 days 1,609 sqft
    2020-07-01 54 days 1,670 sqft
    2020-08-01 45 days 1,634 sqft
    2020-09-01 33 days 1,606 sqft
    2020-10-01 29 days 1,548 sqft
    2020-11-01 42 days 1,565 sqft
    2020-12-01 40 days 1,541 sqft
    2021-01-01 47 days 1,552 sqft
    2021-02-01 32 days 1,578 sqft
    2021-03-01 26 days 1,606 sqft
    2021-04-01 25 days 1,674 sqft
    2021-05-01 29 days 1,718 sqft
    2021-06-01 28 days 1,667 sqft
    2021-07-01 24 days 1,602 sqft
    2021-08-01 31 days 1,570 sqft
    2021-09-01 38 days 1,553 sqft
    2021-10-01 41 days 1,553 sqft
    2021-11-01 34 days 1,555 sqft
    2021-12-01 41 days 1,549 sqft
    2022-01-01 32 days 1,595 sqft
    2022-02-01 20 days 1,570 sqft
    2022-03-01 22 days 1,600 sqft
    2022-04-01 19 days 1,657 sqft
    2022-05-01 22 days 1,625 sqft
    2022-06-01 24 days 1,614 sqft
    2022-07-01 30 days 1,584 sqft
    2022-08-01 38 days 1,595 sqft
    2022-09-01 42 days 1,662 sqft
    2022-10-01 45 days 1,609 sqft
    2022-11-01 51 days 1,575 sqft
    2022-12-01 61 days 1,574 sqft
    2023-01-01 57 days 1,573 sqft
    2023-02-01 46 days 1,579 sqft
    2023-03-01 43 days 1,565 sqft
    2023-04-01 43 days 1,584 sqft
    2023-05-01 40 days 1,622 sqft
    2023-06-01 43 days 1,681 sqft
    2023-07-01 35 days 1,606 sqft
    2023-08-01 48 days 1,599 sqft
    2023-09-01 45 days 1,627 sqft
    2023-10-01 40 days 1,666 sqft
    2023-11-01 46 days 1,645 sqft
    2023-12-01 58 days 1,587 sqft
    2024-01-01 62 days 1,584 sqft
    2024-02-01 52 days 1,595 sqft
    2024-03-01 45 days 1,602 sqft
    Yuma's median listing age (time on market) for 2024-03-01 was 45 days. This is 5% longer than the same period one year ago.

    Yuma's median square footage for active listings during the 2024-03-01 period was 1,602 sqft. One year prior, the average listing was 1,565 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).