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%.

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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Yuma level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
NOVA FINANCIAL & INVESTMENT CORPORATION 337 3.27% $5,797
GUILD MORTGAGE COMPANY 181 3.25% $8,150
ACADEMY MORTGAGE CORPORATION 158 2.94% $8,745
Neighborhood Loans, Inc. 141 3.58% $8,857
LOANDEPOT.COM, LLC 121 3.58% $9,193
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 94 3.36% $7,251
QUICKEN LOANS, LLC 63 2.72% $5,870
PANORAMA MORTGAGE GROUP, LLC 56 3.33% $8,923
UNITED WHOLESALE MORTGAGE, LLC 43 2.73% $7,332
GENEVA FINANCIAL, LLC 30 3.10% $8,263
FREEDOM MORTGAGE CORPORATION 30 2.75% $4,360
RESIDENTIAL BANCORP. 28 3.45% $9,481
PENNYMAC LOAN SERVICES, LLC 28 2.98% $3,939
CALIBER HOME LOANS, INC. 23 2.79% $6,565
Mr. Cooper ( Nationstar Mortgage ) 21 3.24% $4,908
NEWREZ LLC 19 3.01% $3,928
PRIMELENDING, A PLAINSCAPITAL COMPANY 18 3.35% $8,421
LAKEVIEW LOAN SERVICING, LLC 17 2.91% $4,951
VILLAGE CAPITAL & INVESTMENT LLC 14 2.88% $2,456
Gateway First Bank 13 3.45% $5,557
AmeriHome Mortgage Company, LLC 13 3.00% $4,051
Lakeview Community Capital, LLC 12 3.06% $4,009
HOMEBRIDGE FINANCIAL SERVICES, INC. 10 2.69% $4,928
Nations Lending Corporation 7 3.32% $10,622
Carrington Mortgage Services, LLC 7 3.73% $7,082
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 6 3.42% $11,072
BROKER SOLUTIONS, INC. 6 3.23% $7,408
GUARANTEED RATE, INC. 6 2.79% $7,368
RESIDENTIAL WHOLESALE MORTGAGE, INC. 6 2.94% $7,464
NATIONS DIRECT MORTGAGE, LLC 5 3.00% $6,750
Amerifirst Financial, Inc. 4 3.00% $4,859
AMERICAN FINANCIAL RESOURCES, INC. 4 3.28% $6,098
PLANET HOME LENDING, LLC 4 2.78% $3,738
HOME POINT FINANCIAL CORPORATION 4 2.81% $8,715
DATA MORTGAGE, INC. 3 3.83% $8,902
SUN WEST MORTGAGE COMPANY, INC. 3 3.54% $8,369
Loan Simple, Inc. 3 3.41% $10,328
AMERISAVE MORTGAGE CORPORATION 2 3.19% $5,071
DIRECTORS MORTGAGE, INC. 2 3.00% $7,739
COUNTRYPLACE MORTGAGE, LTD. 2 3.38% $9,450
MID AMERICA MORTGAGE, INC. 2 3.31% $7,078
LOANPAL, LLC 2 2.44% $10,772
ENVOY MORTGAGE, LTD 2 2.94% $10,146
ONY GLO, INC. 1 3.13% $6,590
Century Mortgage Company DBA Century Lending Company 1 2.75% $7,330
CELEBRITY HOME LOANS, LLC 1 2.75% $5,978
CANOPY MORTGAGE, LLC 1 2.25% $11,784
RELIANCE FIRST CAPITAL, LLC 1 3.50% $7,743
Zions Bancorporation, N.A. 1 2.50% $6,034
S1L, Inc. 1 2.99% $10,380
SOVEREIGN LENDING GROUP INCORPORATED 1 2.75% $6,708
STEARNS LENDING, LLC 1 3.38% $9,732
SUCCESS MORTGAGE PARTNERS, INC. 1 3.63% $7,452
SUNSTREET MORTGAGE, LLC 1 3.25% $10,766
U.S. Bank 1 2.99% $8,818
AMERICAN FINANCIAL NETWORK, INC. 1 3.75% $17,911
V.I.P. MORTGAGE, INC. 1 4.50% $13,997
Wyndham Capital Mortgage, Inc. 1 2.88% $8,421
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.50% $7,348
HOMESIDE FINANCIAL, LLC 1 2.63% $13,236
INSPIRE HOME LOANS INC. 1 3.25% $7,750
INTERNATIONAL CITY MORTGAGE, INC. 1 2.88% $7,880
LENDUS, LLC 1 2.88% $10,320
LHM FINANCIAL CORPORATION 1 3.25% $9,154
DIRECT MORTGAGE, CORP. 1 2.75% $17,141
Manufacturers and Traders Trust Company 1 2.75% $6,027
MORIA DEVELOPMENT, INC. 1 3.75% $7,869
CROSSCOUNTRY MORTGAGE, LLC 1 3.38% $10,899
NETWORK CAPITAL FUNDING CORPORATION 1 3.75% $8,324
Commerce Home Mortgage, Inc. 1 2.88% $9,542
CLEARPATH LENDING 1 2.75% $7,339
OCEANSIDE MORTGAGE COMPANY 1 2.25% $3,749

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. Louis
Date 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 for 2022-04-01 was $329,000, a difference of $54,050 (19.7%) versus the prior year and $16,500 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2022-04-01 was 21 days. This is -34% shorter than the same period one year ago.

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.

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).