Jumbo Size FHA Mortgages

Click on Chart for Larger View and More Statistics

The chart above shows the monthly number of FHA mortgage originations having mortgage loan amounts of $417,000 and over(referred to as "jumbo FHA mortgages"). Several Observations:

• FHA is grabbing a larger share of the jumbo mortgage segment of the market.
• FHA jumbo refinance mortgages are outpacing FHA purchase mortgages
• The average mortgage for these jumbo FHA mortgages are now over $500,000
• The jumbo FHA are in the higher priced metropolitan areas and counties.
• The top 5 counties in the nation for FHA jumbo mortgages in 2009 are; 1) Los Angeles, CA; 2) Orange, CA; 3) San Diego, CA; 4) Kings (Brooklyn), NY; and 5) Queens, NY
• The county having the highest average jumbo FHA purchase mortgage was Marin, California ($595,000)
• The County having the highest average jumbo FHA refinance mortgage was Hunterdon, NJ ($448,000)

A one percent loan origination fee is not so bad after all!