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 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).