Yuma FHA Loans
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 72 lenders originated 1,800 FHA loans during 2021. The total origination value was $381,370,000, with an average FHA loan value of $211,872.
Yuma FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Yuma
averaged
5.38%
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
5.39% and
one month ago for the week of 2022-04-15, the
average rate was 5.28%.
The average rate one year ago was 3.35%.
For refis of the same type during the week of 2022-05-20, the average rate
was 4.82%.
Yuma 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 Yuma level.
The top Yuma FHA lender as defined by loan originations is NOVA FINANCIAL & INVESTMENT CORPORATION, with
337 FHA loans originated. Their average total fees are
$5,797, which is $2,353
lower than the next largest lender,
GUILD MORTGAGE COMPANY.
The lowest fee Yuma FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($2,456), NEWREZ LLC ($3,928), PENNYMAC LOAN SERVICES, LLC ($3,939), Lakeview Community Capital, LLC ($4,009) and AmeriHome Mortgage Company, LLC ($4,051).
The lowest rate Yuma FHA lenders (with over 10 loans originated) are
HOMEBRIDGE FINANCIAL SERVICES, INC. (2.69%), QUICKEN LOANS, LLC (2.72%), UNITED WHOLESALE MORTGAGE, LLC (2.73%), FREEDOM MORTGAGE CORPORATION (2.75%) and CALIBER HOME LOANS, INC. (2.79%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Yuma (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 | $204,900 (3.4%) | $226,875 (0.4%) | 0.75 | 818 |
2018-02-01 | $204,975 (2.1%) | $230,118 (-0.5%) | 0.74 | 799 |
2018-03-01 | $209,100 (4.5%) | $232,561 (0.2%) | 0.72 | 768 |
2018-04-01 | $211,500 (5.8%) | $235,340 (1.2%) | 0.71 | 727 |
2018-05-01 | $224,000 (9.0%) | $239,121 (1.0%) | 0.75 | 659 |
2018-06-01 | $219,900 (10.0%) | $236,947 (1.6%) | 0.73 | 639 |
2018-07-01 | $218,000 (4.3%) | $238,275 (0.6%) | 0.73 | 597 |
2018-08-01 | $224,950 (9.0%) | $244,035 (2.2%) | 0.75 | 599 |
2018-09-01 | $225,000 (7.2%) | $245,291 (3.6%) | 0.75 | 667 |
2018-10-01 | $225,000 (6.0%) | $244,198 (4.1%) | 0.75 | 684 |
2018-11-01 | $228,750 (10.3%) | $247,876 (8.4%) | 0.77 | 693 |
2018-12-01 | $229,900 (12.2%) | $245,101 (8.0%) | 0.79 | 681 |
2019-01-01 | $229,200 (11.9%) | $245,489 (8.2%) | 0.79 | 684 |
2019-02-01 | $231,700 (13.0%) | $251,576 (9.3%) | 0.78 | 686 |
2019-03-01 | $231,614 (10.8%) | $251,985 (8.4%) | 0.75 | 670 |
2019-04-01 | $232,414 (9.9%) | $253,463 (7.7%) | 0.73 | 660 |
2019-05-01 | $231,550 (3.4%) | $257,655 (7.8%) | 0.71 | 648 |
2019-06-01 | $233,000 (6.0%) | $259,537 (9.5%) | 0.72 | 610 |
2019-07-01 | $234,450 (7.6%) | $264,105 (10.8%) | 0.73 | 548 |
2019-08-01 | $232,757 (3.5%) | $264,265 (8.3%) | 0.73 | 528 |
2019-09-01 | $233,807 (3.9%) | $263,730 (7.5%) | 0.74 | 508 |
2019-10-01 | $238,750 (6.1%) | $270,211 (10.7%) | 0.76 | 568 |
2019-11-01 | $239,950 (4.9%) | $267,764 (8.0%) | 0.77 | 594 |
2019-12-01 | $240,248 (4.5%) | $265,229 (8.2%) | 0.80 | 579 |
2020-01-01 | $231,700 (1.1%) | $258,930 (5.5%) | 0.77 | 581 |
2020-02-01 | $239,900 (3.5%) | $266,651 (6.0%) | 0.77 | 529 |
2020-03-01 | $249,450 (7.7%) | $277,774 (10.2%) | 0.78 | 477 |
2020-04-01 | $249,750 (7.5%) | $276,462 (9.1%) | 0.78 | 465 |
2020-05-01 | $249,500 (7.8%) | $275,709 (7.0%) | 0.76 | 377 |
2020-06-01 | $240,950 (3.4%) | $274,763 (5.9%) | 0.70 | 288 |
2020-07-01 | $254,500 (8.6%) | $293,608 (11.2%) | 0.73 | 225 |
2020-08-01 | $258,525 (11.1%) | $304,547 (15.2%) | 0.74 | 195 |
2020-09-01 | $248,900 (6.5%) | $314,108 (19.1%) | 0.71 | 192 |
2020-10-01 | $239,900 (0.5%) | $300,704 (11.3%) | 0.69 | 201 |
2020-11-01 | $252,450 (5.2%) | $312,572 (16.7%) | 0.72 | 190 |
2020-12-01 | $245,450 (2.2%) | $307,081 (15.8%) | 0.72 | 187 |
2021-01-01 | $255,900 (10.4%) | $310,566 (19.9%) | 0.75 | 158 |
2021-02-01 | $256,275 (6.8%) | $306,767 (15.0%) | 0.74 | 158 |
2021-03-01 | $267,400 (7.2%) | $308,484 (11.1%) | 0.75 | 153 |
2021-04-01 | $274,950 (10.1%) | $328,265 (18.7%) | 0.74 | 136 |
2021-05-01 | $287,000 (15.0%) | $338,809 (22.9%) | 0.76 | 127 |
2021-06-01 | $295,000 (22.4%) | $334,534 (21.8%) | 0.77 | 145 |
2021-07-01 | $292,450 (14.9%) | $330,059 (12.4%) | 0.76 | 189 |
2021-08-01 | $279,900 (8.3%) | $320,891 (5.4%) | 0.74 | 207 |
2021-09-01 | $279,000 (12.1%) | $316,353 (0.7%) | 0.73 | 206 |
2021-10-01 | $289,000 (20.5%) | $338,378 (12.5%) | 0.76 | 187 |
2021-11-01 | $287,500 (13.9%) | $338,221 (8.2%) | 0.76 | 178 |
2021-12-01 | $283,500 (15.5%) | $340,911 (11.0%) | 0.76 | 164 |
2022-01-01 | $299,000 (16.8%) | $348,580 (12.2%) | 0.80 | 156 |
2022-02-01 | $299,950 (17.0%) | $350,131 (14.1%) | 0.76 | 160 |
2022-03-01 | $312,500 (16.9%) | $351,891 (14.1%) | 0.77 | 150 |
2022-04-01 | $329,000 (19.7%) | $374,139 (14.0%) | 0.77 | 177 |
Yuma's median listing price comes in at 77% of the national average.
Yuma's average listing price for 2022-04-01 was $374,139, a difference of $45,874 (14.0%) versus the prior year and $22,248 versus the prior month.
For the 2022-04-01 period, Yuma had 177 MLS listings, a difference of 27 listings (18%) versus the prior month and 41 listings (30%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Yuma (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 75 days | 1,644 sqft |
2018-02-01 | 82 days | 1,647 sqft |
2018-03-01 | 72 days | 1,656 sqft |
2018-04-01 | 67 days | 1,674 sqft |
2018-05-01 | 74 days | 1,734 sqft |
2018-06-01 | 71 days | 1,733 sqft |
2018-07-01 | 73 days | 1,732 sqft |
2018-08-01 | 74 days | 1,738 sqft |
2018-09-01 | 64 days | 1,725 sqft |
2018-10-01 | 61 days | 1,719 sqft |
2018-11-01 | 66 days | 1,714 sqft |
2018-12-01 | 73 days | 1,735 sqft |
2019-01-01 | 79 days | 1,750 sqft |
2019-02-01 | 79 days | 1,745 sqft |
2019-03-01 | 67 days | 1,717 sqft |
2019-04-01 | 66 days | 1,700 sqft |
2019-05-01 | 67 days | 1,700 sqft |
2019-06-01 | 73 days | 1,699 sqft |
2019-07-01 | 82 days | 1,722 sqft |
2019-08-01 | 74 days | 1,704 sqft |
2019-09-01 | 66 days | 1,692 sqft |
2019-10-01 | 51 days | 1,716 sqft |
2019-11-01 | 56 days | 1,699 sqft |
2019-12-01 | 68 days | 1,699 sqft |
2020-01-01 | 73 days | 1,687 sqft |
2020-02-01 | 74 days | 1,715 sqft |
2020-03-01 | 60 days | 1,756 sqft |
2020-04-01 | 60 days | 1,728 sqft |
2020-05-01 | 65 days | 1,693 sqft |
2020-06-01 | 74 days | 1,630 sqft |
2020-07-01 | 60 days | 1,687 sqft |
2020-08-01 | 42 days | 1,686 sqft |
2020-09-01 | 31 days | 1,632 sqft |
2020-10-01 | 28 days | 1,606 sqft |
2020-11-01 | 36 days | 1,606 sqft |
2020-12-01 | 43 days | 1,606 sqft |
2021-01-01 | 49 days | 1,606 sqft |
2021-02-01 | 32 days | 1,606 sqft |
2021-03-01 | 29 days | 1,644 sqft |
2021-04-01 | 32 days | 1,758 sqft |
2021-05-01 | 31 days | 1,727 sqft |
2021-06-01 | 28 days | 1,720 sqft |
2021-07-01 | 29 days | 1,624 sqft |
2021-08-01 | 31 days | 1,604 sqft |
2021-09-01 | 39 days | 1,574 sqft |
2021-10-01 | 39 days | 1,568 sqft |
2021-11-01 | 35 days | 1,560 sqft |
2021-12-01 | 37 days | 1,543 sqft |
2022-01-01 | 31 days | 1,606 sqft |
2022-02-01 | 20 days | 1,607 sqft |
2022-03-01 | 20 days | 1,657 sqft |
2022-04-01 | 21 days | 1,728 sqft |
Yuma's median square footage for active listings during the 2022-04-01 period was 1,728 sqft. One year prior, the average listing was 1,758 sqft.