Yuma FHA Loan Rates, Closing Costs & Stats

YUMA, AZ

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 6.44% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.46% and one month ago for the week of 2024-03-08, the average rate was 6.7%.

The average rate one year ago was 6.13%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.72%.

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).