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 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 6.31% for the week of 2023-01-27, compared to the national average (all FHA variants) of 6.186% for the same period.

    Yuma's average FHA mortgage closing costs are $6,419.

    The average rate for the prior week (2023-01-20) was 6.19% and one month ago for the week of 2022-12-23, the average rate was 6.58%.

    The average rate one year ago was 3.87%.

    For refis of the same type during the week of 2023-01-27, the average rate was 5.85%.

    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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    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 MORTGAGE 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
    Loan Simple, Inc. 3 3.41% $10,328
    DATA MORTGAGE, INC. 3 3.83% $8,902
    SUN WEST MORTGAGE COMPANY, INC. 3 3.54% $8,369
    COUNTRYPLACE MORTGAGE, LTD. 2 3.38% $9,450
    DIRECTORS MORTGAGE, INC. 2 3.00% $7,739
    MID AMERICA MORTGAGE, INC. 2 3.31% $7,078
    ENVOY MORTGAGE, LTD 2 2.94% $10,146
    LOANPAL, LLC 2 2.44% $10,772
    AMERISAVE MORTGAGE CORPORATION 2 3.19% $5,071
    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
    MORIA DEVELOPMENT, INC. 1 3.75% $7,869
    M&T Bank 1 2.75% $6,027
    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 MORTGAGE ($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 $190,750 (0.5%) $221,477 (0.2%) 0.71 808
    2018-02-01 $195,000 (0.3%) $224,675 (-0.4%) 0.71 785
    2018-03-01 $199,000 (-0.2%) $226,501 (-0.3%) 0.70 764
    2018-04-01 $199,650 (1.8%) $229,339 (0.5%) 0.68 705
    2018-05-01 $208,644 (4.7%) $231,610 (-0.2%) 0.70 650
    2018-06-01 $206,000 (3.9%) $230,197 (0.3%) 0.69 629
    2018-07-01 $204,725 (2.4%) $229,992 (-1.3%) 0.68 596
    2018-08-01 $214,000 (7.1%) $234,217 (0.6%) 0.72 600
    2018-09-01 $217,823 (9.0%) $235,099 (1.9%) 0.73 660
    2018-10-01 $217,412 (5.0%) $235,345 (2.6%) 0.73 667
    2018-11-01 $217,500 (8.8%) $237,673 (6.4%) 0.74 691
    2018-12-01 $220,000 (12.9%) $234,428 (6.4%) 0.76 682
    2019-01-01 $219,894 (15.3%) $235,169 (6.2%) 0.76 682
    2019-02-01 $222,656 (14.2%) $242,111 (7.8%) 0.75 691
    2019-03-01 $225,393 (13.3%) $244,265 (7.8%) 0.74 664
    2019-04-01 $225,943 (13.2%) $245,535 (7.1%) 0.72 641
    2019-05-01 $220,950 (5.9%) $248,128 (7.1%) 0.69 630
    2019-06-01 $224,900 (9.2%) $251,253 (9.2%) 0.70 592
    2019-07-01 $227,250 (11.0%) $255,935 (11.3%) 0.71 536
    2019-08-01 $229,232 (7.1%) $259,246 (10.7%) 0.73 536
    2019-09-01 $228,230 (4.8%) $258,342 (9.9%) 0.73 540
    2019-10-01 $227,786 (4.8%) $258,805 (10.0%) 0.73 543
    2019-11-01 $229,900 (5.7%) $258,435 (8.7%) 0.75 562
    2019-12-01 $227,373 (3.4%) $255,971 (9.2%) 0.76 557
    2020-01-01 $219,450 (-0.2%) $248,349 (5.6%) 0.73 554
    2020-02-01 $224,900 (1.0%) $255,456 (5.5%) 0.74 511
    2020-03-01 $239,913 (6.4%) $266,824 (9.2%) 0.75 463
    2020-04-01 $237,950 (5.3%) $263,745 (7.4%) 0.74 456
    2020-05-01 $239,900 (8.6%) $261,545 (5.4%) 0.73 357
    2020-06-01 $232,600 (3.4%) $263,815 (5.0%) 0.68 273
    2020-07-01 $242,879 (6.9%) $281,596 (10.0%) 0.70 227
    2020-08-01 $229,900 (0.3%) $283,988 (9.5%) 0.66 192
    2020-09-01 $227,450 (-0.3%) $293,337 (13.6%) 0.65 196
    2020-10-01 $210,900 (-7.4%) $280,488 (8.4%) 0.60 209
    2020-11-01 $231,250 (0.6%) $290,486 (12.4%) 0.68 203
    2020-12-01 $229,508 (0.9%) $289,280 (13.0%) 0.68 201
    2021-01-01 $240,000 (9.4%) $292,939 (18.0%) 0.72 174
    2021-02-01 $246,850 (9.8%) $300,892 (17.8%) 0.72 167
    2021-03-01 $256,175 (6.8%) $297,043 (11.3%) 0.73 162
    2021-04-01 $259,825 (9.2%) $316,337 (19.9%) 0.70 147
    2021-05-01 $279,777 (16.6%) $334,109 (27.7%) 0.74 141
    2021-06-01 $280,750 (20.7%) $323,557 (22.7%) 0.74 149
    2021-07-01 $279,750 (15.2%) $325,386 (15.6%) 0.74 205
    2021-08-01 $270,000 (17.4%) $314,157 (10.6%) 0.72 211
    2021-09-01 $270,800 (19.1%) $312,230 (6.4%) 0.72 203
    2021-10-01 $278,675 (32.1%) $330,913 (18.0%) 0.74 186
    2021-11-01 $277,925 (20.2%) $330,804 (13.9%) 0.74 174
    2021-12-01 $279,925 (22.0%) $331,357 (14.6%) 0.76 168
    2022-01-01 $285,000 (18.8%) $335,603 (14.6%) 0.77 154
    2022-02-01 $294,500 (19.3%) $335,767 (11.6%) 0.77 153
    2022-03-01 $299,475 (16.9%) $337,745 (13.7%) 0.75 152
    2022-04-01 $314,950 (21.2%) $360,808 (14.1%) 0.75 171
    2022-05-01 $308,663 (10.3%) $362,514 (8.5%) 0.71 214
    2022-06-01 $300,878 (7.2%) $353,138 (9.1%) 0.67 271
    2022-07-01 $310,000 (10.8%) $352,826 (8.4%) 0.70 316
    2022-08-01 $310,000 (14.8%) $359,189 (14.3%) 0.72 344
    2022-09-01 $315,000 (16.3%) $364,217 (16.7%) 0.74 364
    2022-10-01 $310,000 (11.2%) $358,573 (8.4%) 0.73 395
    2022-11-01 $309,145 (11.2%) $348,920 (5.5%) 0.74 401
    2022-12-01 $304,403 (8.7%) $345,384 (4.2%) 0.76 380
    Yuma's median listing price for 2022-12-01 was $304,403, a difference of $24,478 (8.7%) versus the prior year and $-4,742 versus the prior month.

    Yuma's median listing price comes in at 76% of the national average.

    Yuma's average listing price for 2022-12-01 was $345,384, a difference of $14,027 (4.2%) versus the prior year and $-3,536 versus the prior month.

    For the 2022-12-01 period, Yuma had 380 MLS listings, a difference of -21 listings (-5%) versus the prior month and 212 listings (126%) 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 1,628 sqft
    2018-02-01 81 days 1,630 sqft
    2018-03-01 70 days 1,650 sqft
    2018-04-01 67 days 1,660 sqft
    2018-05-01 71 days 1,700 sqft
    2018-06-01 68 days 1,700 sqft
    2018-07-01 73 days 1,701 sqft
    2018-08-01 74 days 1,699 sqft
    2018-09-01 64 days 1,694 sqft
    2018-10-01 60 days 1,690 sqft
    2018-11-01 63 days 1,689 sqft
    2018-12-01 67 days 1,694 sqft
    2019-01-01 74 days 1,699 sqft
    2019-02-01 72 days 1,699 sqft
    2019-03-01 67 days 1,690 sqft
    2019-04-01 68 days 1,682 sqft
    2019-05-01 72 days 1,665 sqft
    2019-06-01 77 days 1,679 sqft
    2019-07-01 82 days 1,696 sqft
    2019-08-01 74 days 1,696 sqft
    2019-09-01 63 days 1,675 sqft
    2019-10-01 56 days 1,665 sqft
    2019-11-01 59 days 1,660 sqft
    2019-12-01 68 days 1,660 sqft
    2020-01-01 74 days 1,638 sqft
    2020-02-01 78 days 1,660 sqft
    2020-03-01 63 days 1,689 sqft
    2020-04-01 70 days 1,654 sqft
    2020-05-01 72 days 1,666 sqft
    2020-06-01 75 days 1,609 sqft
    2020-07-01 58 days 1,670 sqft
    2020-08-01 49 days 1,634 sqft
    2020-09-01 37 days 1,606 sqft
    2020-10-01 31 days 1,552 sqft
    2020-11-01 44 days 1,563 sqft
    2020-12-01 42 days 1,538 sqft
    2021-01-01 50 days 1,552 sqft
    2021-02-01 33 days 1,569 sqft
    2021-03-01 26 days 1,606 sqft
    2021-04-01 25 days 1,688 sqft
    2021-05-01 29 days 1,718 sqft
    2021-06-01 29 days 1,669 sqft
    2021-07-01 25 days 1,602 sqft
    2021-08-01 31 days 1,570 sqft
    2021-09-01 39 days 1,553 sqft
    2021-10-01 44 days 1,553 sqft
    2021-11-01 36 days 1,555 sqft
    2021-12-01 41 days 1,549 sqft
    2022-01-01 33 days 1,595 sqft
    2022-02-01 22 days 1,570 sqft
    2022-03-01 22 days 1,600 sqft
    2022-04-01 22 days 1,657 sqft
    2022-05-01 24 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 43 days 1,662 sqft
    2022-10-01 46 days 1,609 sqft
    2022-11-01 52 days 1,575 sqft
    2022-12-01 62 days 1,569 sqft
    Yuma's median listing age (time on market) for 2022-12-01 was 62 days. This is 50% longer than the same period one year ago.

    Yuma's median square footage for active listings during the 2022-12-01 period was 1,569 sqft. One year prior, the average listing was 1,549 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).