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).