Amsterdam FHA Loan Rates, Closing Costs & Stats

Amsterdam, NY

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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.

    Amsterdam's 28 lenders originated 120 FHA loans during 2023. The total origination value was $21,720,000, with an average FHA loan value of $181,000.

    Amsterdam FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Amsterdam averaged 6.68% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Amsterdam's average FHA mortgage closing costs are $6,058.

    The average rate for the prior week (2025-02-07) was 6.4% and one month ago for the week of 2025-01-10, the average rate was 6.46%.

    The average rate one year ago was 6.59%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.32%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Amsterdam 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 Amsterdam level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 21 6.65% $10,215
    HOMESTEAD FUNDING CORP. 20 6.66% $5,140
    UNITED WHOLESALE MORTGAGE, LLC 11 6.29% $10,605
    NEWREZ LLC 10 7.03% $8,557
    PLAZA HOME MORTGAGE, INC. 6 6.42% $9,632
    SEFCU SERVICES, LLC 4 6.19% $6,476
    KeyBank 3 7.29% $5,866
    NP, Inc. 3 6.58% $11,977
    Premium Mortgage Corporation 3 6.42% $7,925
    AMERICAN FINANCIAL NETWORK, INC. 3 7.21% $11,766
    LOANDEPOT.COM, LLC 2 5.63% $8,380
    Flagstar Bank, FSB 2 6.75% $7,600
    JPMorgan Chase Bank 1 7.00% $3,097
    FREEDOM MORTGAGE CORPORATION 1 7.25% $8,421
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.75% $19,804
    MOVEMENT MORTGAGE, LLC 1 7.25% $10,516
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $5,861
    M&T Bank 1 6.75% $8,460
    Evolve Bank & Trust 1 6.50% $6,625
    East Coast Capital Corp. 1 6.75% $15,690
    Citizens Bank 1 6.88% $8,454
    Berkshire Bank 1 5.75% $6,095
    Bank of England 1 6.63% $7,824
    Bank of America 1 7.50% $13,136
    SUNMARK FEDERAL CREDIT UNION 1 6.63% $5,430
    UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 6.75% $8,629
    AMERICAN FINANCING CORPORATION 1 6.99% $13,867
    US MORTGAGE CORPORATION 1 7.63% $10,401

    The top Amsterdam FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 21 FHA loans originated. Their average total fees are $10,215, which is $5,075 higher than the next largest lender, HOMESTEAD FUNDING CORP..

    The lowest fee Amsterdam FHA lenders (with over 10 loans originated) are HOMESTEAD FUNDING CORP. ($5,140), NEWREZ LLC ($8,557), QUICKEN LOANS, LLC ($10,215), UNITED WHOLESALE MORTGAGE, LLC ($10,605) and .

    The lowest rate Amsterdam FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.29%), QUICKEN LOANS, LLC (6.65%), HOMESTEAD FUNDING CORP. (6.66%), NEWREZ LLC (7.03%) and .

    Amsterdam FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    AMSTERDAM, NY MONTGOMERY 2022 $420,680 $538,650 $651,050 $809,150
    AMSTERDAM, NY MONTGOMERY 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Amsterdam (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 $128,225 (28.3%) $152,877 (14.1%) 0.00 170
    2018-02-01 $134,900 (42.8%) $156,550 (21.5%) 0.00 162
    2018-03-01 $134,950 (40.9%) $158,429 (27.2%) 0.00 168
    2018-04-01 $135,000 (22.8%) $163,346 (26.5%) 0.00 170
    2018-05-01 $137,000 (28.2%) $174,190 (28.9%) 0.00 178
    2018-06-01 $134,900 (25.8%) $175,084 (28.9%) 0.00 185
    2018-07-01 $129,900 (8.3%) $171,510 (20.6%) 0.00 180
    2018-08-01 $129,900 (9.2%) $173,285 (22.2%) 0.00 175
    2018-09-01 $125,000 (5.3%) $172,764 (19.7%) 0.00 179
    2018-10-01 $129,350 (5.5%) $175,551 (18.6%) 0.00 189
    2018-11-01 $129,950 (3.2%) $175,575 (18.5%) 0.00 176
    2018-12-01 $124,900 (0.3%) $172,564 (17.1%) 0.00 167
    2019-01-01 $121,900 (-4.9%) $172,225 (12.7%) 0.00 158
    2019-02-01 $125,900 (-6.7%) $172,129 (10.0%) 0.00 148
    2019-03-01 $126,329 (-6.4%) $173,260 (9.4%) 0.00 143
    2019-04-01 $125,104 (-7.3%) $171,645 (5.1%) 0.00 141
    2019-05-01 $129,575 (-5.4%) $178,316 (2.4%) 0.00 154
    2019-06-01 $142,400 (5.6%) $183,728 (4.9%) 0.00 174
    2019-07-01 $137,450 (5.8%) $184,047 (7.3%) 0.00 186
    2019-08-01 $141,303 (8.8%) $180,706 (4.3%) 0.00 187
    2019-09-01 $143,257 (14.6%) $175,680 (1.7%) 0.00 187
    2019-10-01 $146,389 (13.2%) $181,800 (3.6%) 0.00 189
    2019-11-01 $139,450 (7.3%) $183,726 (4.6%) 0.00 185
    2019-12-01 $131,150 (5.0%) $179,469 (4.0%) 0.00 182
    2020-01-01 $124,900 (2.5%) $181,261 (5.3%) 0.00 165
    2020-02-01 $124,900 (-0.8%) $182,524 (6.0%) 0.00 161
    2020-03-01 $127,400 (0.9%) $182,109 (5.1%) 0.00 169
    2020-04-01 $131,175 (4.9%) $183,434 (6.9%) 0.00 169
    2020-05-01 $129,900 (0.3%) $189,146 (6.1%) 0.00 157
    2020-06-01 $135,000 (-5.2%) $192,785 (4.9%) 0.00 142
    2020-07-01 $145,000 (5.5%) $205,827 (11.8%) 0.00 133
    2020-08-01 $149,900 (6.1%) $211,109 (16.8%) 0.00 134
    2020-09-01 $149,450 (4.3%) $204,417 (16.4%) 0.00 138
    2020-10-01 $139,950 (-4.4%) $183,850 (1.1%) 0.00 125
    2020-11-01 $138,475 (-0.7%) $180,908 (-1.5%) 0.00 121
    2020-12-01 $153,725 (17.2%) $196,580 (9.5%) 0.00 104
    2021-01-01 $159,000 (27.3%) $211,939 (16.9%) 0.00 92
    2021-02-01 $171,200 (37.1%) $232,513 (27.4%) 0.00 75
    2021-03-01 $173,200 (36.0%) $219,822 (20.7%) 0.00 62
    2021-04-01 $186,125 (41.9%) $264,770 (44.3%) 0.00 57
    2021-05-01 $177,400 (36.6%) $249,309 (31.8%) 0.00 58
    2021-06-01 $163,500 (21.1%) $243,932 (26.5%) 0.00 74
    2021-07-01 $159,950 (10.3%) $236,150 (14.7%) 0.00 85
    2021-08-01 $184,975 (23.4%) $252,401 (19.6%) 0.00 94
    2021-09-01 $185,325 (24.0%) $264,775 (29.5%) 0.00 90
    2021-10-01 $178,500 (27.6%) $242,955 (32.2%) 0.00 96
    2021-11-01 $186,000 (34.3%) $258,038 (42.6%) 0.00 88
    2021-12-01 $213,100 (38.6%) $272,284 (38.5%) 0.00 79
    2022-01-01 $187,000 (17.6%) $269,292 (27.1%) 0.00 75
    2022-02-01 $186,450 (8.9%) $261,843 (12.6%) 0.00 56
    2022-03-01 $207,400 (19.8%) $268,349 (22.1%) 0.00 62
    2022-04-01 $204,450 (9.9%) $286,034 (8.0%) 0.00 53
    2022-05-01 $184,000 (3.7%) $268,940 (7.9%) 0.00 62
    2022-06-01 $204,875 (25.3%) $256,497 (5.2%) 0.00 73
    2022-07-01 $202,250 (26.5%) $255,077 (8.0%) 0.00 78
    2022-08-01 $225,725 (22.0%) $261,404 (3.6%) 0.00 77
    2022-09-01 $223,675 (20.7%) $267,736 (1.1%) 0.00 78
    2022-10-01 $209,450 (17.3%) $260,992 (7.4%) 0.00 90
    2022-11-01 $191,875 (3.2%) $246,186 (-4.6%) 0.00 93
    2022-12-01 $193,950 (-9.0%) $245,475 (-9.9%) 0.00 90
    2023-01-01 $189,450 (1.3%) $247,971 (-7.9%) 0.00 90
    2023-02-01 $193,450 (3.8%) $254,874 (-2.7%) 0.00 82
    2023-03-01 $239,450 (15.5%) $267,385 (-0.4%) 0.00 72
    2023-04-01 $239,000 (16.9%) $265,632 (-7.1%) 0.00 69
    2023-05-01 $234,225 (27.3%) $263,571 (-2.0%) 0.00 78
    2023-06-01 $222,450 (8.6%) $243,015 (-5.3%) 0.00 80
    2023-07-01 $214,450 (6.0%) $238,192 (-6.6%) 0.00 77
    2023-08-01 $214,450 (-5.0%) $239,571 (-8.4%) 0.00 74
    2023-09-01 $192,450 (-14.0%) $235,753 (-12.0%) 0.00 83
    2023-10-01 $185,975 (-11.2%) $224,315 (-14.1%) 0.00 92
    2023-11-01 $186,700 (-2.7%) $223,639 (-9.2%) 0.00 91
    2023-12-01 $187,000 (-3.6%) $222,751 (-9.3%) 0.00 85
    2024-01-01 $181,500 (-4.2%) $220,278 (-11.2%) 0.00 74
    2024-02-01 $178,500 (-7.7%) $217,784 (-14.6%) 0.00 66
    2024-03-01 $169,950 (-29.0%) $218,377 (-18.3%) 0.00 61
    2024-04-01 $169,250 (-29.2%) $233,665 (-12.0%) 0.00 57
    2024-05-01 $199,700 (-14.7%) $254,364 (-3.5%) 0.00 66
    2024-06-01 $209,950 (-5.6%) $251,321 (3.4%) 0.00 73
    2024-07-01 $208,200 (-2.9%) $251,421 (5.6%) 0.00 73
    2024-08-01 $215,000 (0.3%) $248,320 (3.7%) 0.00 85
    2024-09-01 $215,250 (11.9%) $255,972 (8.6%) 0.00 82
    2024-10-01 $210,500 (13.2%) $245,516 (9.5%) 0.00 72
    2024-11-01 $223,950 (20.0%) $255,216 (14.1%) 0.00 91
    2024-12-01 $219,125 (17.2%) $257,559 (15.6%) 0.00 86
    2025-01-01 $219,900 (21.2%) $260,419 (18.2%) 0.00 85
    Amsterdam's median listing price for 2025-01-01 was $219,900, a difference of $38,400 (21.2%) versus the prior year and $775 versus the prior month.

    Amsterdam's median listing price comes in at 0% of the national average.

    Amsterdam's average listing price for 2025-01-01 was $260,419, a difference of $40,141 (18.2%) versus the prior year and $2,860 versus the prior month.

    For the 2025-01-01 period, Amsterdam had 85 MLS listings, a difference of -1 listings (-1%) versus the prior month and 11 listings (15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Amsterdam (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,746 sqft
    2018-02-01 0 days 1,751 sqft
    2018-03-01 0 days 1,800 sqft
    2018-04-01 0 days 1,804 sqft
    2018-05-01 0 days 1,796 sqft
    2018-06-01 0 days 1,774 sqft
    2018-07-01 0 days 1,733 sqft
    2018-08-01 0 days 1,732 sqft
    2018-09-01 0 days 1,757 sqft
    2018-10-01 0 days 1,774 sqft
    2018-11-01 0 days 1,835 sqft
    2018-12-01 0 days 1,800 sqft
    2019-01-01 0 days 1,717 sqft
    2019-02-01 0 days 1,736 sqft
    2019-03-01 0 days 1,719 sqft
    2019-04-01 0 days 1,701 sqft
    2019-05-01 0 days 1,817 sqft
    2019-06-01 0 days 1,728 sqft
    2019-07-01 0 days 1,665 sqft
    2019-08-01 0 days 1,721 sqft
    2019-09-01 0 days 1,709 sqft
    2019-10-01 0 days 1,716 sqft
    2019-11-01 0 days 1,732 sqft
    2019-12-01 0 days 1,699 sqft
    2020-01-01 0 days 1,692 sqft
    2020-02-01 0 days 1,686 sqft
    2020-03-01 0 days 1,698 sqft
    2020-04-01 0 days 1,700 sqft
    2020-05-01 0 days 1,700 sqft
    2020-06-01 0 days 1,758 sqft
    2020-07-01 0 days 1,811 sqft
    2020-08-01 0 days 1,864 sqft
    2020-09-01 0 days 1,778 sqft
    2020-10-01 0 days 1,736 sqft
    2020-11-01 0 days 1,708 sqft
    2020-12-01 0 days 1,654 sqft
    2021-01-01 0 days 1,690 sqft
    2021-02-01 0 days 1,685 sqft
    2021-03-01 0 days 1,644 sqft
    2021-04-01 0 days 1,845 sqft
    2021-05-01 0 days 1,912 sqft
    2021-06-01 0 days 1,746 sqft
    2021-07-01 0 days 1,736 sqft
    2021-08-01 0 days 1,794 sqft
    2021-09-01 0 days 1,847 sqft
    2021-10-01 0 days 1,830 sqft
    2021-11-01 0 days 1,832 sqft
    2021-12-01 0 days 1,905 sqft
    2022-01-01 0 days 2,000 sqft
    2022-02-01 0 days 1,830 sqft
    2022-03-01 0 days 1,887 sqft
    2022-04-01 0 days 1,880 sqft
    2022-05-01 0 days 1,867 sqft
    2022-06-01 0 days 1,801 sqft
    2022-07-01 0 days 1,855 sqft
    2022-08-01 0 days 1,857 sqft
    2022-09-01 0 days 1,720 sqft
    2022-10-01 0 days 1,683 sqft
    2022-11-01 0 days 1,685 sqft
    2022-12-01 0 days 1,816 sqft
    2023-01-01 0 days 1,935 sqft
    2023-02-01 0 days 1,944 sqft
    2023-03-01 0 days 1,951 sqft
    2023-04-01 0 days 1,942 sqft
    2023-05-01 0 days 1,851 sqft
    2023-06-01 0 days 1,820 sqft
    2023-07-01 0 days 1,792 sqft
    2023-08-01 0 days 1,691 sqft
    2023-09-01 0 days 1,639 sqft
    2023-10-01 0 days 1,596 sqft
    2023-11-01 0 days 1,609 sqft
    2023-12-01 0 days 1,613 sqft
    2024-01-01 0 days 1,623 sqft
    2024-02-01 0 days 1,636 sqft
    2024-03-01 0 days 1,512 sqft
    2024-04-01 0 days 1,581 sqft
    2024-05-01 0 days 1,691 sqft
    2024-06-01 0 days 1,822 sqft
    2024-07-01 0 days 1,703 sqft
    2024-08-01 0 days 1,838 sqft
    2024-09-01 0 days 1,742 sqft
    2024-10-01 0 days 1,722 sqft
    2024-11-01 0 days 1,700 sqft
    2024-12-01 0 days 1,708 sqft
    2025-01-01 0 days 1,712 sqft
    Amsterdam's median listing age (time on market) for 2025-01-01 was 0 days.

    Amsterdam's median square footage for active listings during the 2025-01-01 period was 1,712 sqft. One year prior, the average listing was 1,623 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).