Barnstable Town FHA Loans

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 74 lenders originated 615 FHA loans during 2021. The total origination value was $231,435,000, with an average FHA loan value of $376,317.

Barnstable Town FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Barnstable Town averaged 5.14% for the week of 2022-08-05, compared to the national average (all FHA variants) of 5.305% for the same period.

The average rate for the prior week (2022-07-29) was 5.28% and one month ago for the week of 2022-07-01, the average rate was 5.27%.

The average rate one year ago was 3.07%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.21%.

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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Barnstable Town level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 51 2.61% $8,688
NEWREZ LLC 41 2.64% $9,889
FREEDOM MORTGAGE CORPORATION 36 2.76% $8,372
Shamrock Home Loans, Inc. 33 2.97% $11,256
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 27 3.03% $10,717
LAKEVIEW LOAN SERVICING, LLC 26 2.83% $6,585
RESIDENTIAL MORTGAGE SERVICES, INC. 21 2.86% $10,997
Mr. Cooper ( Nationstar Mortgage ) 17 3.14% $6,628
HOME POINT FINANCIAL CORPORATION 17 2.76% $10,460
UNITED WHOLESALE MORTGAGE, LLC 15 2.61% $11,792
PENNYMAC LOAN SERVICES, LLC 14 2.98% $6,759
LOANDEPOT.COM, LLC 13 3.21% $10,722
RADIUS FINANCIAL GROUP INC. 11 2.74% $10,184
CROSSCOUNTRY MORTGAGE, LLC 11 3.09% $10,966
EQUITY RESOURCES, INC. 9 3.01% $9,292
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 6 3.08% $11,495
CALIBER HOME LOANS, INC. 6 2.70% $8,816
WILLIAM RAVEIS MORTGAGE, LLC 6 2.73% $10,220
OCMBC, INC. 5 2.93% $10,310
GUARANTEED RATE, INC. 5 2.53% $9,341
AMERISAVE MORTGAGE CORPORATION 5 2.83% $10,325
Sierra Pacific Mortgage Company, Inc. 4 2.69% $13,400
STEARNS LENDING, LLC 4 2.47% $7,509
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 3.31% $11,693
VILLAGE CAPITAL & INVESTMENT LLC 4 2.96% $4,059
First Guaranty Mortgage Corporation 4 2.94% $10,417
NEW FED MORTGAGE, CORP. 4 2.88% $10,869
Nations Lending Corporation 4 3.34% $15,635
BROKER SOLUTIONS, INC. 4 2.59% $11,872
MUTUAL OF OMAHA MORTGAGE, INC. 3 2.96% $9,948
TOTAL MORTGAGE SERVICES, LLC 3 2.96% $15,133
EMBRACE HOME LOANS, INC. 3 3.04% $9,426
Eastern Bank 3 2.67% $13,323
FIRST HOME MORTGAGE CORPORATION 3 2.96% $10,277
Envision Bank 2 3.00% $10,969
Citizens Bank 2 2.56% $9,018
Evolve Bank & Trust 2 3.00% $13,651
MOVEMENT MORTGAGE, LLC 2 2.81% $8,331
Paramount Residential Mortgage Group, Inc. 2 2.69% $10,059
PLAZA HOME MORTGAGE, INC. 2 3.50% $9,916
The Federal Savings Bank 2 2.94% $13,419
HOMESIDE FINANCIAL, LLC 1 3.50% $7,254
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.25% $7,106
First Savings Bank 1 3.00% $13,467
First Home Bank 1 3.25% $13,418
FBC MORTGAGE, LLC 1 2.25% $8,138
Northpointe Bank 1 3.25% $12,635
NORTHPOINT MORTGAGE, INC. 1 2.75% $10,076
Fall River Five Cents Savings Bank 1 3.00% $9,033
AMERICAN FINANCIAL NETWORK, INC. 1 3.00% $20,540
Equity Prime Mortgage LLC 1 3.63% $11,640
Wells Fargo Bank 1 2.63% $12,717
Poli Mortgage Group, Inc. 1 2.63% $8,205
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.38% $9,159
ENVOY MORTGAGE, LTD 1 2.75% $18,110
ACADEMY MORTGAGE CORPORATION 1 3.75% $12,702
DRAPER AND KRAMER MORTGAGE CORP. 1 3.25% $15,236
RELIANCE FIRST CAPITAL, LLC 1 3.25% $8,272
CONWAY FINANCIAL SERVICES, LLC 1 3.50% $13,159
Rockland Trust Company 1 2.25% $11,943
Ross Mortgage Company, Inc. 1 3.00% $14,560
BAY EQUITY LLC 1 2.99% $11,068
Bank of England 1 2.75% $8,995
Bank of America 1 2.63% $8,186
TD Bank 1 3.00% $12,910
ALLIED MORTGAGE GROUP, INC. 1 3.00% $7,821
The Washington Trust Company, of Westerly 1 2.25% $10,831
TJC Mortgage, Inc. 1 2.88% $12,429
TOP FLITE FINANCIAL, INC. 1 3.63% $28,935
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.88% $10,666
LAND HOME FINANCIAL SERVICES, INC. 1 3.75% $16,333
Leader Bank 1 2.50% $11,601
Hometown Lenders, Inc. 1 3.25% $12,258
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 2.50% $10,856

The top Barnstable Town FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 51 FHA loans originated. Their average total fees are $8,688, which is $1,201 lower than the next largest lender, NEWREZ LLC.

The lowest fee Barnstable Town FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($6,585), Mr. Cooper ( Nationstar Mortgage ) ($6,628), PENNYMAC LOAN SERVICES, LLC ($6,759), FREEDOM MORTGAGE CORPORATION ($8,372) and QUICKEN LOANS, LLC ($8,688).

The lowest rate Barnstable Town FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.61%), UNITED WHOLESALE MORTGAGE, LLC (2.61%), NEWREZ LLC (2.64%), RADIUS FINANCIAL GROUP INC. (2.74%) and FREEDOM MORTGAGE CORPORATION (2.76%).

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Barnstable Town (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 $569,500 (4.0%) $968,173 (3.4%) 2.10 2,509
2018-02-01 $575,000 (1.0%) $964,457 (0.8%) 2.07 2,495
2018-03-01 $589,000 (1.6%) $984,307 (3.9%) 2.04 2,518
2018-04-01 $599,900 (0.8%) $1,013,544 (7.0%) 2.01 2,666
2018-05-01 $599,950 (3.6%) $994,513 (10.5%) 2.00 2,938
2018-06-01 $599,000 (3.8%) $962,824 (7.2%) 2.00 3,165
2018-07-01 $599,000 (3.5%) $952,934 (5.5%) 2.00 3,327
2018-08-01 $579,450 (1.8%) $931,512 (2.8%) 1.94 3,496
2018-09-01 $559,900 (-1.6%) $913,874 (-1.2%) 1.87 3,709
2018-10-01 $549,000 (-1.4%) $894,754 (-1.4%) 1.84 3,872
2018-11-01 $549,900 (-2.7%) $915,245 (0.2%) 1.84 3,675
2018-12-01 $559,000 (-1.9%) $930,210 (-2.6%) 1.91 3,215
2019-01-01 $549,000 (-3.6%) $929,131 (-4.0%) 1.89 2,818
2019-02-01 $567,000 (-1.4%) $942,551 (-2.3%) 1.90 2,887
2019-03-01 $586,429 (-0.4%) $956,679 (-2.8%) 1.91 3,055
2019-04-01 $596,000 (-0.7%) $953,503 (-5.9%) 1.88 3,304
2019-05-01 $596,500 (-0.6%) $953,805 (-4.1%) 1.84 3,532
2019-06-01 $596,627 (-0.4%) $948,825 (-1.5%) 1.84 3,705
2019-07-01 $599,000 (0.0%) $966,118 (1.4%) 1.86 3,681
2019-08-01 $590,857 (2.0%) $959,442 (3.0%) 1.86 3,637
2019-09-01 $579,500 (3.5%) $947,614 (3.7%) 1.84 3,602
2019-10-01 $574,900 (4.7%) $936,964 (4.7%) 1.83 3,664
2019-11-01 $569,000 (3.5%) $957,426 (4.6%) 1.84 3,407
2019-12-01 $569,000 (1.8%) $967,658 (4.0%) 1.90 2,927
2020-01-01 $575,000 (4.7%) $1,013,833 (9.1%) 1.92 2,597
2020-02-01 $599,000 (5.6%) $1,048,432 (11.2%) 1.93 2,530
2020-03-01 $601,950 (2.7%) $1,033,506 (8.0%) 1.88 2,746
2020-04-01 $599,900 (0.7%) $1,024,310 (7.4%) 1.87 2,837
2020-05-01 $619,000 (3.8%) $1,048,747 (10.0%) 1.88 2,779
2020-06-01 $647,200 (8.5%) $1,086,485 (14.5%) 1.89 2,418
2020-07-01 $654,450 (9.3%) $1,130,483 (17.0%) 1.88 2,137
2020-08-01 $675,000 (14.2%) $1,188,906 (23.9%) 1.93 1,802
2020-09-01 $699,000 (20.6%) $1,298,460 (37.0%) 2.00 1,621
2020-10-01 $699,500 (21.7%) $1,308,999 (39.7%) 2.00 1,543
2020-11-01 $699,000 (22.9%) $1,315,257 (37.4%) 2.00 1,354
2020-12-01 $732,450 (28.7%) $1,357,404 (40.3%) 2.15 1,128
2021-01-01 $749,900 (30.4%) $1,485,183 (46.5%) 2.21 940
2021-02-01 $797,000 (33.1%) $1,519,989 (45.0%) 2.29 764
2021-03-01 $739,450 (22.8%) $1,517,521 (46.8%) 2.07 806
2021-04-01 $699,450 (16.6%) $1,506,271 (47.1%) 1.88 791
2021-05-01 $699,900 (13.1%) $1,495,124 (42.6%) 1.84 871
2021-06-01 $707,000 (9.2%) $1,436,551 (32.2%) 1.84 966
2021-07-01 $725,000 (10.8%) $1,397,958 (23.7%) 1.88 1,016
2021-08-01 $727,450 (7.8%) $1,309,900 (10.2%) 1.91 1,078
2021-09-01 $699,450 (0.1%) $1,295,790 (-0.2%) 1.84 1,133
2021-10-01 $735,000 (5.1%) $1,377,497 (5.2%) 1.93 1,073
2021-11-01 $754,000 (7.9%) $1,467,151 (11.6%) 1.99 863
2021-12-01 $812,500 (10.9%) $1,537,018 (13.2%) 2.17 677
2022-01-01 $849,000 (13.2%) $1,671,146 (12.5%) 2.26 520
2022-02-01 $849,450 (6.6%) $1,831,019 (20.5%) 2.16 477
2022-03-01 $849,450 (14.9%) $1,846,970 (21.7%) 2.10 483
2022-04-01 $799,500 (14.3%) $1,680,742 (11.6%) 1.88 572
2022-05-01 $844,500 (20.7%) $1,648,893 (10.3%) 1.89 713
2022-06-01 $850,000 (20.2%) $1,511,502 (5.2%) 1.89 954
Barnstable Town's median listing price for 2022-06-01 was $850,000, a difference of $143,000 (20.2%) versus the prior year and $5,500 versus the prior month.

Barnstable Town's median listing price comes in at 189% of the national average.

Barnstable Town's average listing price for 2022-06-01 was $1,511,502, a difference of $74,951 (5.2%) versus the prior year and $-137,391 versus the prior month.

For the 2022-06-01 period, Barnstable Town had 954 MLS listings, a difference of 241 listings (34%) versus the prior month and -12 listings (-1%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Barnstable Town (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 118 days 1,872 sqft
2018-02-01 122 days 1,906 sqft
2018-03-01 115 days 1,900 sqft
2018-04-01 75 days 1,959 sqft
2018-05-01 69 days 1,965 sqft
2018-06-01 65 days 1,901 sqft
2018-07-01 68 days 1,893 sqft
2018-08-01 76 days 1,859 sqft
2018-09-01 75 days 1,855 sqft
2018-10-01 75 days 1,818 sqft
2018-11-01 81 days 1,820 sqft
2018-12-01 95 days 1,800 sqft
2019-01-01 108 days 1,791 sqft
2019-02-01 113 days 1,807 sqft
2019-03-01 105 days 1,842 sqft
2019-04-01 72 days 1,873 sqft
2019-05-01 66 days 1,846 sqft
2019-06-01 70 days 1,842 sqft
2019-07-01 79 days 1,854 sqft
2019-08-01 91 days 1,838 sqft
2019-09-01 91 days 1,813 sqft
2019-10-01 87 days 1,818 sqft
2019-11-01 87 days 1,820 sqft
2019-12-01 102 days 1,827 sqft
2020-01-01 112 days 1,815 sqft
2020-02-01 107 days 1,865 sqft
2020-03-01 68 days 1,862 sqft
2020-04-01 75 days 1,848 sqft
2020-05-01 90 days 1,869 sqft
2020-06-01 98 days 1,902 sqft
2020-07-01 82 days 1,907 sqft
2020-08-01 68 days 1,900 sqft
2020-09-01 59 days 1,896 sqft
2020-10-01 52 days 1,830 sqft
2020-11-01 58 days 1,800 sqft
2020-12-01 73 days 1,824 sqft
2021-01-01 84 days 1,846 sqft
2021-02-01 92 days 1,836 sqft
2021-03-01 65 days 1,843 sqft
2021-04-01 44 days 1,742 sqft
2021-05-01 37 days 1,778 sqft
2021-06-01 36 days 1,775 sqft
2021-07-01 41 days 1,757 sqft
2021-08-01 43 days 1,761 sqft
2021-09-01 44 days 1,753 sqft
2021-10-01 49 days 1,780 sqft
2021-11-01 58 days 1,806 sqft
2021-12-01 68 days 1,838 sqft
2022-01-01 79 days 1,836 sqft
2022-02-01 62 days 1,822 sqft
2022-03-01 48 days 1,900 sqft
2022-04-01 35 days 1,747 sqft
2022-05-01 32 days 1,830 sqft
2022-06-01 27 days 1,875 sqft
Barnstable Town's median listing age (time on market) for 2022-06-01 was 27 days. This is -24% shorter than the same period one year ago.

Barnstable Town's median square footage for active listings during the 2022-06-01 period was 1,875 sqft. One year prior, the average listing was 1,775 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).