Berlin FHA Loan Rates, Closing Costs & Stats

Berlin, NH

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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.

    Berlin's 23 lenders originated 67 FHA loans during 2023. The total origination value was $12,065,000, with an average FHA loan value of $180,075.

    Berlin FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Berlin averaged 6.85% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Berlin's average FHA mortgage closing costs are $6,502.

    The average rate for the prior week (2024-04-12) was 6.94% and one month ago for the week of 2024-03-15, the average rate was 6.81%.

    The average rate one year ago was 6.34%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Berlin 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 Berlin level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 15 6.13% $8,999
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.75% $7,496
    NORWICH COMMERCIAL GROUP, INC. 4 6.22% $7,628
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.97% $9,457
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $12,445
    GUILD MORTGAGE COMPANY 2 7.00% $8,270
    LOANDEPOT.COM, LLC 2 6.19% $12,788
    Union Bank 2 6.56% $6,646
    Mortgage Research Center, LLC 2 7.19% $5,011
    Mr. Cooper ( Nationstar Mortgage ) 1 6.50% $11,333
    NFM, INC. 1 7.38% $10,251
    UNITED WHOLESALE MORTGAGE, LLC 1 7.07% $6,168
    VAN DYK MORTGAGE CORPORATION 1 6.63% $8,847
    Barrington Bank & Trust Company, N.A. 1 5.75% $8,455
    Waterstone Mortgage Corporation 1 7.00% $8,305
    Bethpage Federal Credit Union 1 6.00% $3,387
    Citizens Bank 1 6.63% $7,671
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $9,316
    EMM LOANS LLC 1 6.75% $8,653
    Evolve Bank & Trust 1 7.25% $13,394
    HARBORONE MORTGAGE, LLC 1 6.75% $4,830
    LAKEVIEW LOAN SERVICING, LLC 1 7.75% $9,971
    MOVEMENT MORTGAGE, LLC 1 7.13% $6,396

    The top Berlin FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 15 FHA loans originated. Their average total fees are $8,999, which is $1,502 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Berlin FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,999), .

    The lowest rate Berlin FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.13%), .

    Berlin FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Berlin (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 $117,225 (-9.4%) $180,181 (5.3%) 0.00 347
    2018-02-01 $117,225 (-9.1%) $180,286 (7.3%) 0.00 334
    2018-03-01 $119,900 (-7.4%) $183,294 (5.8%) 0.00 323
    2018-04-01 $119,450 (-7.7%) $181,774 (4.0%) 0.00 317
    2018-05-01 $124,950 (-3.8%) $186,173 (6.8%) 0.00 321
    2018-06-01 $134,900 (1.9%) $190,044 (5.2%) 0.00 345
    2018-07-01 $139,900 (4.3%) $195,383 (6.3%) 0.00 366
    2018-08-01 $140,625 (8.8%) $188,087 (4.6%) 0.00 382
    2018-09-01 $139,900 (3.3%) $191,476 (-0.5%) 0.00 366
    2018-10-01 $139,450 (4.0%) $220,588 (13.8%) 0.00 356
    2018-11-01 $139,250 (11.4%) $221,447 (22.3%) 0.00 339
    2018-12-01 $143,250 (19.5%) $225,747 (26.5%) 0.00 315
    2019-01-01 $144,950 (23.7%) $232,256 (28.9%) 0.00 296
    2019-02-01 $149,900 (27.9%) $236,501 (31.2%) 0.00 272
    2019-03-01 $149,900 (25.0%) $228,706 (24.8%) 0.00 273
    2019-04-01 $149,900 (25.5%) $230,818 (27.0%) 0.00 273
    2019-05-01 $152,450 (22.0%) $233,606 (25.5%) 0.00 287
    2019-06-01 $150,000 (11.2%) $227,175 (19.5%) 0.00 333
    2019-07-01 $149,900 (7.2%) $232,361 (18.9%) 0.00 340
    2019-08-01 $149,655 (6.4%) $237,840 (26.5%) 0.00 343
    2019-09-01 $149,286 (6.7%) $237,252 (23.9%) 0.00 352
    2019-10-01 $149,178 (7.0%) $238,368 (8.1%) 0.00 347
    2019-11-01 $149,900 (7.7%) $251,174 (13.4%) 0.00 313
    2019-12-01 $145,625 (1.7%) $248,888 (10.3%) 0.00 289
    2020-01-01 $147,000 (1.4%) $252,551 (8.7%) 0.00 274
    2020-02-01 $152,500 (1.7%) $262,318 (10.9%) 0.00 257
    2020-03-01 $159,900 (6.7%) $269,012 (17.6%) 0.00 242
    2020-04-01 $154,425 (3.0%) $264,602 (14.6%) 0.00 234
    2020-05-01 $159,900 (4.9%) $259,690 (11.2%) 0.00 236
    2020-06-01 $151,175 (0.8%) $259,380 (14.2%) 0.00 229
    2020-07-01 $152,450 (1.7%) $261,022 (12.3%) 0.00 208
    2020-08-01 $159,900 (6.9%) $275,367 (15.8%) 0.00 179
    2020-09-01 $159,823 (7.1%) $268,734 (13.3%) 0.00 175
    2020-10-01 $159,000 (6.6%) $261,804 (9.8%) 0.00 166
    2020-11-01 $152,424 (1.7%) $220,191 (-12.3%) 0.00 146
    2020-12-01 $152,400 (4.7%) $231,846 (-6.9%) 0.00 123
    2021-01-01 $159,950 (8.8%) $241,722 (-4.3%) 0.00 102
    2021-02-01 $172,000 (12.8%) $248,529 (-5.3%) 0.00 87
    2021-03-01 $199,450 (24.7%) $263,715 (-2.0%) 0.00 74
    2021-04-01 $187,725 (21.6%) $257,024 (-2.9%) 0.00 80
    2021-05-01 $199,000 (24.5%) $256,614 (-1.2%) 0.00 92
    2021-06-01 $249,450 (65.0%) $282,465 (8.9%) 0.00 121
    2021-07-01 $232,000 (52.2%) $275,822 (5.7%) 0.00 124
    2021-08-01 $228,450 (42.9%) $268,439 (-2.5%) 0.00 129
    2021-09-01 $229,950 (43.9%) $275,779 (2.6%) 0.00 116
    2021-10-01 $219,800 (38.2%) $271,541 (3.7%) 0.00 87
    2021-11-01 $189,500 (24.3%) $261,548 (18.8%) 0.00 79
    2021-12-01 $196,725 (29.1%) $254,692 (9.9%) 0.00 68
    2022-01-01 $169,000 (5.7%) $254,331 (5.2%) 0.00 60
    2022-02-01 $175,500 (2.0%) $285,370 (14.8%) 0.00 57
    2022-03-01 $194,450 (-2.5%) $299,053 (13.4%) 0.00 66
    2022-04-01 $223,000 (18.8%) $301,709 (17.4%) 0.00 65
    2022-05-01 $274,000 (37.7%) $333,303 (29.9%) 0.00 84
    2022-06-01 $279,675 (12.1%) $346,186 (22.6%) 0.00 107
    2022-07-01 $275,000 (18.5%) $324,785 (17.8%) 0.00 122
    2022-08-01 $261,000 (14.3%) $304,685 (13.5%) 0.00 134
    2022-09-01 $249,900 (8.7%) $304,388 (10.4%) 0.00 125
    2022-10-01 $252,950 (15.1%) $290,492 (7.0%) 0.00 120
    2022-11-01 $267,450 (41.1%) $296,777 (13.5%) 0.00 116
    2022-12-01 $239,950 (22.0%) $270,259 (6.1%) 0.00 106
    2023-01-01 $259,500 (53.6%) $278,575 (9.5%) 0.00 77
    2023-02-01 $259,500 (47.9%) $285,378 (0.0%) 0.00 69
    2023-03-01 $274,900 (41.4%) $295,935 (-1.0%) 0.00 72
    2023-04-01 $249,991 (12.1%) $298,471 (-1.1%) 0.00 72
    2023-05-01 $261,975 (-4.4%) $327,219 (-1.8%) 0.00 80
    2023-06-01 $265,000 (-5.3%) $324,381 (-6.3%) 0.00 104
    2023-07-01 $274,950 (0.0%) $337,073 (3.8%) 0.00 107
    2023-08-01 $289,900 (11.1%) $348,230 (14.3%) 0.00 111
    2023-09-01 $311,250 (24.6%) $361,945 (18.9%) 0.00 115
    2023-10-01 $287,000 (13.5%) $361,295 (24.4%) 0.00 121
    2023-11-01 $327,475 (22.4%) $383,017 (29.1%) 0.00 121
    2023-12-01 $325,000 (35.4%) $377,819 (39.8%) 0.00 111
    2024-01-01 $327,425 (26.2%) $390,121 (40.0%) 0.00 101
    2024-02-01 $324,975 (25.2%) $398,478 (39.6%) 0.00 95
    2024-03-01 $327,450 (19.1%) $396,671 (34.0%) 0.00 88
    Berlin's median listing price for 2024-03-01 was $327,450, a difference of $52,550 (19.1%) versus the prior year and $2,475 versus the prior month.

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

    Berlin's average listing price for 2024-03-01 was $396,671, a difference of $100,736 (34.0%) versus the prior year and $-1,807 versus the prior month.

    For the 2024-03-01 period, Berlin had 88 MLS listings, a difference of -7 listings (-7%) versus the prior month and 16 listings (22%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Berlin (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,525 sqft
    2018-02-01 0 days 1,514 sqft
    2018-03-01 0 days 1,569 sqft
    2018-04-01 0 days 1,571 sqft
    2018-05-01 0 days 1,584 sqft
    2018-06-01 0 days 1,600 sqft
    2018-07-01 0 days 1,634 sqft
    2018-08-01 0 days 1,606 sqft
    2018-09-01 0 days 1,600 sqft
    2018-10-01 0 days 1,619 sqft
    2018-11-01 0 days 1,646 sqft
    2018-12-01 0 days 1,621 sqft
    2019-01-01 0 days 1,722 sqft
    2019-02-01 0 days 1,753 sqft
    2019-03-01 0 days 1,723 sqft
    2019-04-01 0 days 1,725 sqft
    2019-05-01 0 days 1,669 sqft
    2019-06-01 0 days 1,664 sqft
    2019-07-01 0 days 1,682 sqft
    2019-08-01 0 days 1,690 sqft
    2019-09-01 0 days 1,698 sqft
    2019-10-01 0 days 1,712 sqft
    2019-11-01 0 days 1,701 sqft
    2019-12-01 0 days 1,740 sqft
    2020-01-01 0 days 1,749 sqft
    2020-02-01 0 days 1,792 sqft
    2020-03-01 0 days 1,786 sqft
    2020-04-01 0 days 1,755 sqft
    2020-05-01 0 days 1,679 sqft
    2020-06-01 0 days 1,631 sqft
    2020-07-01 0 days 1,657 sqft
    2020-08-01 0 days 1,678 sqft
    2020-09-01 0 days 1,662 sqft
    2020-10-01 0 days 1,648 sqft
    2020-11-01 0 days 1,669 sqft
    2020-12-01 0 days 1,698 sqft
    2021-01-01 0 days 1,665 sqft
    2021-02-01 0 days 1,775 sqft
    2021-03-01 0 days 1,857 sqft
    2021-04-01 0 days 1,746 sqft
    2021-05-01 0 days 1,672 sqft
    2021-06-01 0 days 1,716 sqft
    2021-07-01 0 days 1,670 sqft
    2021-08-01 0 days 1,576 sqft
    2021-09-01 0 days 1,530 sqft
    2021-10-01 0 days 1,548 sqft
    2021-11-01 0 days 1,512 sqft
    2021-12-01 0 days 1,545 sqft
    2022-01-01 0 days 1,554 sqft
    2022-02-01 0 days 1,680 sqft
    2022-03-01 0 days 1,658 sqft
    2022-04-01 0 days 1,536 sqft
    2022-05-01 0 days 1,631 sqft
    2022-06-01 0 days 1,555 sqft
    2022-07-01 0 days 1,563 sqft
    2022-08-01 0 days 1,569 sqft
    2022-09-01 0 days 1,567 sqft
    2022-10-01 0 days 1,568 sqft
    2022-11-01 0 days 1,599 sqft
    2022-12-01 0 days 1,506 sqft
    2023-01-01 0 days 1,490 sqft
    2023-02-01 0 days 1,502 sqft
    2023-03-01 0 days 1,607 sqft
    2023-04-01 0 days 1,606 sqft
    2023-05-01 0 days 1,637 sqft
    2023-06-01 0 days 1,672 sqft
    2023-07-01 0 days 1,669 sqft
    2023-08-01 0 days 1,739 sqft
    2023-09-01 0 days 1,636 sqft
    2023-10-01 0 days 1,687 sqft
    2023-11-01 0 days 1,738 sqft
    2023-12-01 0 days 1,720 sqft
    2024-01-01 0 days 1,782 sqft
    2024-02-01 0 days 1,799 sqft
    2024-03-01 0 days 1,695 sqft
    Berlin's median listing age (time on market) for 2024-03-01 was 0 days.

    Berlin's median square footage for active listings during the 2024-03-01 period was 1,695 sqft. One year prior, the average listing was 1,607 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).