Yuma FHA Loans

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 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).