Barnstable Town FHA Loan Rates, Closing Costs & Stats

BARNSTABLE TOWN, MA

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.

Barnstable Town's 63 lenders originated 317 FHA loans during 2024. The total origination value was $146,035,000, with an average FHA loan value of $460,678.

Barnstable Town FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Barnstable Town averaged 0.16% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

Barnstable Town's average FHA mortgage closing costs are $10,944.

The average rate for the prior week (2025-06-13) was 7.04% and one month ago for the week of 2025-05-16, the average rate was 6.7%.

The average rate one year ago was 7.05%.

For refis of the same type during the week of 2025-06-20, the average rate was 0%.

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

Barnstable Town 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 Barnstable Town level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
QUICKEN LOANS, LLC 22 6.24% $18,103
UNITED WHOLESALE MORTGAGE, LLC 20 6.04% $18,750
CMG MORTGAGE, INC. 19 6.60% $17,408
Flagstar Bank, FSB 16 6.16% $12,135
FREEDOM MORTGAGE CORPORATION 14 6.19% $20,513
NEWREZ LLC 12 6.29% $16,009
The Cape Cod Five Cents Savings Bank 12 5.44% $12,588
CROSSCOUNTRY MORTGAGE, LLC 11 6.65% $18,114
FIRST MORTGAGE COMPANY, INC. 7 5.87% $14,219
MUTUAL OF OMAHA MORTGAGE, INC. 6 6.42% $22,322
BROKER SOLUTIONS, INC. 5 6.00% $16,921
LOANDEPOT.COM, LLC 5 6.25% $18,545
RADIUS FINANCIAL GROUP INC. 5 6.43% $17,855
EMBRACE HOME LOANS, INC. 4 6.69% $13,948
AMERISAVE MORTGAGE CORPORATION 4 5.91% $16,627
PENNYMAC LOAN SERVICES, LLC 4 5.94% $11,836
EQUITY RESOURCES, INC. 3 7.25% $12,833
Fall River Five Cents Savings Bank 3 6.79% $12,656
FIRST COMMUNITY MORTGAGE, INC. 3 6.58% $15,151
GUILD MORTGAGE COMPANY 3 6.50% $20,268
JMAC LENDING, INC. 3 6.21% $14,154
Keystone Funding, Inc. 3 6.21% $13,988
Leader Bank 3 6.12% $14,276
MID AMERICA MORTGAGE, INC. 3 6.50% $11,172
Mr. Cooper ( Nationstar Mortgage ) 3 6.42% $22,883
BAYCOAST MORTGAGE COMPANY, LLC 3 5.79% $12,433
ALLIED MORTGAGE GROUP, INC. 3 6.38% $11,137
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.19% $17,093
MOVEMENT MORTGAGE, LLC 2 6.62% $14,489
Residential Mortgage Solutions, Inc. 2 5.81% $19,526
OCMBC, INC. 2 6.88% $23,284
LAKEVIEW LOAN SERVICING, LLC 2 6.44% $9,682
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.75% $25,710
LOANPAL, LLC 1 6.13% $18,534
The Washington Trust Company, of Westerly 1 6.50% $15,357
MILEND, INC. 1 6.99% $24,081
TOTAL MORTGAGE SERVICES, LLC 1 6.75% $13,865
Chickasaw Community Bank 1 5.88% $18,436
NATIONS DIRECT MORTGAGE, LLC 1 6.25% $16,758
Nations Lending Corporation 1 6.50% $15,494
NEW FED MORTGAGE, CORP. 1 6.75% $16,946
EMM LOANS LLC 1 5.75% $15,622
NORWICH COMMERCIAL GROUP, INC. 1 7.88% $26,996
Paramount Residential Mortgage Group, Inc. 1 7.13% $18,090
WILLIAM RAVEIS MORTGAGE, LLC 1 7.00% $11,894
PHH Mortgage Corporation 1 5.99% $15,852
Plains Commerce Bank 1 6.75% $14,162
PLANET HOME LENDING, LLC 1 6.63% $26,824
Evolve Bank & Trust 1 5.62% $12,800
PROVINCE MORTGAGE ASSOCIATES, INC. 1 7.13% $15,784
FIRST COLONY MORTGAGE CORPORATION 1 5.13% $20,639
Bank of England 1 6.63% $18,430
FIRST HOME MORTGAGE CORPORATION 1 6.25% $20,516
ABSOLUTE HOME MORTGAGE CORPORATION 1 5.75% $24,414
Eastern Bank 1 5.75% $10,438
Cornerstone First Mortgage, Inc 1 7.13% $17,352
GUARANTEED RATE, INC. 1 4.63% $31,515
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $17,124
HOMESIDE FINANCIAL, LLC 1 6.25% $40,978
TD Bank 1 6.63% $9,000
AMERICAN FINANCIAL NETWORK, INC. 1 5.75% $15,533
LENOX FINANCIAL MORTGAGE CORPORATION 1 6.25% $9,665
CHURCHILL MORTGAGE CORPORATION 1 6.25% $19,078

The top Barnstable Town FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 22 FHA loans originated. Their average total fees are $18,103, which is $647 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Barnstable Town FHA lenders (with over 10 loans originated) are Flagstar Bank, FSB ($12,135), The Cape Cod Five Cents Savings Bank ($12,588), NEWREZ LLC ($16,009), CMG MORTGAGE, INC. ($17,408) and QUICKEN LOANS, LLC ($18,103).

The lowest rate Barnstable Town FHA lenders (with over 10 loans originated) are The Cape Cod Five Cents Savings Bank (5.44%), UNITED WHOLESALE MORTGAGE, LLC (6.04%), Flagstar Bank, FSB (6.16%), FREEDOM MORTGAGE CORPORATION (6.19%) and QUICKEN LOANS, LLC (6.24%).

Barnstable Town FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
BARNSTABLE TOWN, MA BARNSTABLE 2022 $621,000 $795,000 $960,950 $1,194,250
BARNSTABLE TOWN, MA BARNSTABLE 2023 $701,500 $898,050 $1,085,550 $1,349,050

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).