Auburn FHA Loan Rates, Closing Costs & Stats

Auburn, 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.

    Auburn's 25 lenders originated 90 FHA loans during 2023. The total origination value was $14,120,000, with an average FHA loan value of $156,889.

    Auburn FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Auburn averaged 6.66% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Auburn's average FHA mortgage closing costs are $6,203.

    The average rate for the prior week (2025-02-07) was 6.47% and one month ago for the week of 2025-01-10, the average rate was 6.53%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.52%.

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

    Auburn 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 Auburn level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    PLAZA HOME MORTGAGE, INC. 17 6.43% $8,655
    QUICKEN LOANS, LLC 15 6.46% $8,913
    Genesee Regional Bank 10 6.56% $7,339
    KeyBank 4 6.63% $6,037
    LOANDEPOT.COM, LLC 3 6.62% $7,790
    HUNT MORTGAGE CORPORATION 3 6.92% $9,906
    HOMESTEAD FUNDING CORP. 3 6.21% $9,116
    Premium Mortgage Corporation 2 6.69% $9,544
    M&T Bank 2 6.75% $9,948
    PARAGON HOME LOANS INC. 2 6.75% $8,589
    Mr. Cooper ( Nationstar Mortgage ) 2 5.25% $8,321
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.50% $8,622
    AMERICU Credit Union 2 6.13% $6,105
    Wells Fargo Bank 1 6.63% $9,847
    Barrington Bank & Trust Company, N.A. 1 7.25% $7,180
    Carrington Mortgage Services, LLC 1 6.38% $10,221
    Equity Prime Mortgage LLC 1 6.75% $6,401
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $9,382
    INTERSTATE HOME LOAN CENTER, INC. 1 6.75% $9,530
    MOVEMENT MORTGAGE, LLC 1 6.75% $8,376
    PENNYMAC LOAN SERVICES, LLC 1 5.75% $11,611
    Plains Commerce Bank 1 5.88% $9,028
    SUNMARK FEDERAL CREDIT UNION 1 5.63% $7,852
    The Federal Savings Bank 1 7.75% $12,310
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.75% $8,410

    The top Auburn FHA lender as defined by loan originations is PLAZA HOME MORTGAGE, INC., with 17 FHA loans originated. Their average total fees are $8,655, which is $258 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Auburn FHA lenders (with over 10 loans originated) are Genesee Regional Bank ($7,339), PLAZA HOME MORTGAGE, INC. ($8,655), QUICKEN LOANS, LLC ($8,913), .

    The lowest rate Auburn FHA lenders (with over 10 loans originated) are PLAZA HOME MORTGAGE, INC. (6.43%), QUICKEN LOANS, LLC (6.46%), Genesee Regional Bank (6.56%), .

    Auburn FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Auburn (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 $129,900 (-3.0%) $197,170 (-1.0%) 0.00 253
    2018-02-01 $139,350 (-0.4%) $213,759 (7.8%) 0.00 249
    2018-03-01 $139,900 (0.0%) $211,545 (1.3%) 0.00 233
    2018-04-01 $147,200 (1.0%) $215,279 (-0.6%) 0.00 246
    2018-05-01 $157,000 (3.9%) $218,190 (-2.5%) 0.00 252
    2018-06-01 $170,450 (6.9%) $233,809 (3.4%) 0.00 287
    2018-07-01 $179,600 (10.5%) $238,882 (-4.9%) 0.00 308
    2018-08-01 $176,075 (8.4%) $244,804 (-0.9%) 0.00 298
    2018-09-01 $169,900 (6.3%) $244,886 (1.1%) 0.00 289
    2018-10-01 $172,100 (14.8%) $246,696 (5.6%) 0.00 289
    2018-11-01 $173,000 (15.8%) $252,684 (7.3%) 0.00 275
    2018-12-01 $166,500 (19.0%) $252,895 (17.1%) 0.00 249
    2019-01-01 $159,800 (23.0%) $242,636 (23.1%) 0.00 210
    2019-02-01 $159,950 (14.8%) $249,601 (16.8%) 0.00 194
    2019-03-01 $178,471 (27.6%) $265,223 (25.4%) 0.00 202
    2019-04-01 $193,425 (31.4%) $279,724 (29.9%) 0.00 221
    2019-05-01 $195,675 (24.6%) $272,060 (24.7%) 0.00 246
    2019-06-01 $189,900 (11.4%) $269,944 (15.5%) 0.00 276
    2019-07-01 $204,850 (14.1%) $280,111 (17.3%) 0.00 273
    2019-08-01 $203,336 (15.5%) $281,775 (15.1%) 0.00 268
    2019-09-01 $198,591 (16.9%) $282,465 (15.4%) 0.00 260
    2019-10-01 $194,900 (13.3%) $280,832 (13.8%) 0.00 251
    2019-11-01 $179,450 (3.7%) $272,041 (7.7%) 0.00 246
    2019-12-01 $169,900 (2.0%) $256,487 (1.4%) 0.00 221
    2020-01-01 $165,750 (3.7%) $256,247 (5.6%) 0.00 193
    2020-02-01 $174,900 (9.4%) $251,172 (0.6%) 0.00 189
    2020-03-01 $179,900 (0.8%) $260,687 (-1.7%) 0.00 172
    2020-04-01 $179,300 (-7.3%) $261,363 (-6.6%) 0.00 160
    2020-05-01 $189,900 (-3.0%) $278,846 (2.5%) 0.00 163
    2020-06-01 $214,900 (13.2%) $294,596 (9.1%) 0.00 180
    2020-07-01 $216,950 (5.9%) $297,759 (6.3%) 0.00 182
    2020-08-01 $219,900 (8.2%) $295,030 (4.7%) 0.00 152
    2020-09-01 $189,425 (-4.6%) $281,060 (-0.5%) 0.00 150
    2020-10-01 $182,400 (-6.4%) $302,198 (7.6%) 0.00 145
    2020-11-01 $179,850 (0.2%) $301,752 (10.9%) 0.00 128
    2020-12-01 $154,325 (-9.2%) $284,822 (11.1%) 0.00 128
    2021-01-01 $164,900 (-0.5%) $299,487 (16.9%) 0.00 98
    2021-02-01 $156,950 (-10.3%) $319,822 (27.3%) 0.00 84
    2021-03-01 $177,375 (-1.4%) $346,860 (33.1%) 0.00 82
    2021-04-01 $216,975 (21.0%) $351,332 (34.4%) 0.00 83
    2021-05-01 $214,900 (13.2%) $334,418 (19.9%) 0.00 93
    2021-06-01 $199,450 (-7.2%) $324,052 (10.0%) 0.00 102
    2021-07-01 $197,450 (-9.0%) $303,317 (1.9%) 0.00 122
    2021-08-01 $237,400 (8.0%) $330,142 (11.9%) 0.00 104
    2021-09-01 $222,200 (17.3%) $335,503 (19.4%) 0.00 114
    2021-10-01 $227,450 (24.7%) $344,928 (14.1%) 0.00 117
    2021-11-01 $215,925 (20.1%) $297,052 (-1.6%) 0.00 88
    2021-12-01 $196,945 (27.6%) $260,471 (-8.6%) 0.00 82
    2022-01-01 $179,900 (9.1%) $266,644 (-11.0%) 0.00 75
    2022-02-01 $159,900 (1.9%) $262,686 (-17.9%) 0.00 66
    2022-03-01 $166,450 (-6.2%) $232,556 (-33.0%) 0.00 58
    2022-04-01 $194,900 (-10.2%) $276,020 (-21.4%) 0.00 78
    2022-05-01 $205,450 (-4.4%) $303,750 (-9.2%) 0.00 91
    2022-06-01 $216,425 (8.5%) $317,547 (-2.0%) 0.00 95
    2022-07-01 $202,250 (2.4%) $316,294 (4.3%) 0.00 116
    2022-08-01 $217,450 (-8.4%) $333,045 (0.9%) 0.00 125
    2022-09-01 $191,175 (-14.0%) $324,875 (-3.2%) 0.00 127
    2022-10-01 $189,900 (-16.5%) $332,016 (-3.7%) 0.00 123
    2022-11-01 $196,175 (-9.2%) $340,827 (14.7%) 0.00 109
    2022-12-01 $199,900 (1.5%) $322,659 (23.9%) 0.00 95
    2023-01-01 $186,100 (3.5%) $309,843 (16.2%) 0.00 71
    2023-02-01 $189,900 (18.8%) $305,410 (16.3%) 0.00 62
    2023-03-01 $210,375 (26.4%) $375,924 (61.7%) 0.00 53
    2023-04-01 $265,000 (36.0%) $409,868 (48.5%) 0.00 54
    2023-05-01 $235,700 (14.7%) $393,021 (29.4%) 0.00 55
    2023-06-01 $237,475 (9.7%) $360,770 (13.6%) 0.00 61
    2023-07-01 $234,950 (16.2%) $343,902 (8.7%) 0.00 80
    2023-08-01 $242,125 (11.4%) $341,057 (2.4%) 0.00 91
    2023-09-01 $239,950 (25.5%) $385,186 (18.6%) 0.00 102
    2023-10-01 $238,250 (25.5%) $395,504 (19.1%) 0.00 89
    2023-11-01 $223,563 (14.0%) $365,739 (7.3%) 0.00 85
    2023-12-01 $199,950 (0.0%) $353,327 (9.5%) 0.00 86
    2024-01-01 $204,725 (10.0%) $369,874 (19.4%) 0.00 69
    2024-02-01 $214,925 (13.2%) $386,764 (26.6%) 0.00 62
    2024-03-01 $224,900 (6.9%) $330,814 (-12.0%) 0.00 59
    2024-04-01 $274,900 (3.7%) $371,389 (-9.4%) 0.00 51
    2024-05-01 $295,750 (25.5%) $439,934 (11.9%) 0.00 68
    2024-06-01 $299,900 (26.3%) $457,988 (27.0%) 0.00 77
    2024-07-01 $289,675 (23.3%) $427,812 (24.4%) 0.00 85
    2024-08-01 $284,900 (17.7%) $421,199 (23.5%) 0.00 101
    2024-09-01 $289,450 (20.6%) $427,674 (11.0%) 0.00 103
    2024-10-01 $284,925 (19.6%) $408,670 (3.3%) 0.00 101
    2024-11-01 $249,000 (11.4%) $389,843 (6.6%) 0.00 100
    2024-12-01 $244,950 (22.5%) $383,250 (8.5%) 0.00 93
    2025-01-01 $251,150 (22.7%) $402,625 (8.9%) 0.00 77
    Auburn's median listing price for 2025-01-01 was $251,150, a difference of $46,425 (22.7%) versus the prior year and $6,200 versus the prior month.

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

    Auburn's average listing price for 2025-01-01 was $402,625, a difference of $32,751 (8.9%) versus the prior year and $19,375 versus the prior month.

    For the 2025-01-01 period, Auburn had 77 MLS listings, a difference of -16 listings (-17%) versus the prior month and 8 listings (12%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Auburn (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,713 sqft
    2018-02-01 0 days 1,680 sqft
    2018-03-01 0 days 1,719 sqft
    2018-04-01 0 days 1,719 sqft
    2018-05-01 0 days 1,705 sqft
    2018-06-01 0 days 1,700 sqft
    2018-07-01 0 days 1,727 sqft
    2018-08-01 0 days 1,710 sqft
    2018-09-01 0 days 1,693 sqft
    2018-10-01 0 days 1,666 sqft
    2018-11-01 0 days 1,695 sqft
    2018-12-01 0 days 1,716 sqft
    2019-01-01 0 days 1,680 sqft
    2019-02-01 0 days 1,689 sqft
    2019-03-01 0 days 1,778 sqft
    2019-04-01 0 days 1,838 sqft
    2019-05-01 0 days 1,735 sqft
    2019-06-01 0 days 1,693 sqft
    2019-07-01 0 days 1,691 sqft
    2019-08-01 0 days 1,734 sqft
    2019-09-01 0 days 1,774 sqft
    2019-10-01 0 days 1,797 sqft
    2019-11-01 0 days 1,792 sqft
    2019-12-01 0 days 1,744 sqft
    2020-01-01 0 days 1,786 sqft
    2020-02-01 0 days 1,763 sqft
    2020-03-01 0 days 1,780 sqft
    2020-04-01 0 days 1,746 sqft
    2020-05-01 0 days 1,829 sqft
    2020-06-01 0 days 1,854 sqft
    2020-07-01 0 days 1,827 sqft
    2020-08-01 0 days 1,855 sqft
    2020-09-01 0 days 1,864 sqft
    2020-10-01 0 days 1,878 sqft
    2020-11-01 0 days 1,783 sqft
    2020-12-01 0 days 1,662 sqft
    2021-01-01 0 days 1,640 sqft
    2021-02-01 0 days 1,646 sqft
    2021-03-01 0 days 1,693 sqft
    2021-04-01 0 days 1,709 sqft
    2021-05-01 0 days 1,712 sqft
    2021-06-01 0 days 1,769 sqft
    2021-07-01 0 days 1,828 sqft
    2021-08-01 0 days 1,883 sqft
    2021-09-01 0 days 1,752 sqft
    2021-10-01 0 days 1,792 sqft
    2021-11-01 0 days 1,761 sqft
    2021-12-01 0 days 1,686 sqft
    2022-01-01 0 days 1,693 sqft
    2022-02-01 0 days 1,678 sqft
    2022-03-01 0 days 1,733 sqft
    2022-04-01 0 days 1,789 sqft
    2022-05-01 0 days 1,768 sqft
    2022-06-01 0 days 1,842 sqft
    2022-07-01 0 days 1,698 sqft
    2022-08-01 0 days 1,821 sqft
    2022-09-01 0 days 1,759 sqft
    2022-10-01 0 days 1,840 sqft
    2022-11-01 0 days 1,879 sqft
    2022-12-01 0 days 1,808 sqft
    2023-01-01 0 days 1,689 sqft
    2023-02-01 0 days 1,778 sqft
    2023-03-01 0 days 1,864 sqft
    2023-04-01 0 days 1,936 sqft
    2023-05-01 0 days 1,689 sqft
    2023-06-01 0 days 1,736 sqft
    2023-07-01 0 days 1,683 sqft
    2023-08-01 0 days 1,775 sqft
    2023-09-01 0 days 1,872 sqft
    2023-10-01 0 days 1,733 sqft
    2023-11-01 0 days 1,812 sqft
    2023-12-01 0 days 1,882 sqft
    2024-01-01 0 days 1,753 sqft
    2024-02-01 0 days 1,782 sqft
    2024-03-01 0 days 1,728 sqft
    2024-04-01 0 days 1,677 sqft
    2024-05-01 0 days 1,761 sqft
    2024-06-01 0 days 1,954 sqft
    2024-07-01 0 days 1,757 sqft
    2024-08-01 0 days 1,672 sqft
    2024-09-01 0 days 1,650 sqft
    2024-10-01 0 days 1,707 sqft
    2024-11-01 0 days 1,749 sqft
    2024-12-01 0 days 1,746 sqft
    2025-01-01 0 days 1,783 sqft
    Auburn's median listing age (time on market) for 2025-01-01 was 0 days.

    Auburn's median square footage for active listings during the 2025-01-01 period was 1,783 sqft. One year prior, the average listing was 1,753 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).