Boston FHA Loan Rates, Closing Costs & Stats

Boston-Cambridge-Newton, MA-NH

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.

Boston's 178 lenders originated 5,484 FHA loans during 2022. The total origination value was $2,700,590,000, with an average FHA loan value of $492,449.

Boston FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Boston averaged -0.96% for the week of 2024-02-23, compared to the national average (all FHA variants) of 0% for the same period.

Boston's average FHA mortgage closing costs are $11,656.

The average rate for the prior week (2024-02-16) was 5.78% and one month ago for the week of 2024-01-19, the average rate was 5.93%.

The average rate one year ago was 5.49%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.82%.

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

Boston 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 Boston level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 443 4.67% $16,075
CROSSCOUNTRY MORTGAGE, LLC 376 5.10% $18,040
QUICKEN LOANS, LLC 305 4.36% $16,340
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 191 5.24% $15,263
LOANDEPOT.COM, LLC 187 4.57% $15,873
GUARANTEED RATE, INC. 186 4.86% $15,602
GUILD MORTGAGE COMPANY 170 4.97% $17,496
CALIBER HOME LOANS, INC. 153 4.32% $17,147
Equity Prime Mortgage LLC 152 5.09% $16,830
NEW FED MORTGAGE, CORP. 143 4.84% $14,919
TOTAL MORTGAGE SERVICES, LLC 130 4.93% $16,557
Mr. Cooper ( Nationstar Mortgage ) 121 4.13% $16,652
FREEDOM MORTGAGE CORPORATION 110 4.34% $13,877
PENNYMAC LOAN SERVICES, LLC 109 4.08% $13,751
HOMEBRIDGE FINANCIAL SERVICES, INC. 91 4.88% $17,724
MOVEMENT MORTGAGE, LLC 91 5.20% $17,861
HOME POINT FINANCIAL CORPORATION 87 4.34% $18,180
Mortgage Network, Inc. 79 5.11% $14,196
CARDINAL FINANCIAL 72 4.55% $21,501
SALEM FIVE MORTGAGE COMPANY, LLC 70 4.67% $15,317
MORTGAGE EQUITY PARTNERS LLC 69 5.09% $17,802
PRIMELENDING, A PLAINSCAPITAL COMPANY 69 4.59% $16,897
LAKEVIEW LOAN SERVICING, LLC 66 3.58% $8,952
AMERISAVE MORTGAGE CORPORATION 52 4.45% $14,817
RADIUS FINANCIAL GROUP INC. 50 4.95% $16,392
NEWREZ LLC 50 4.47% $14,675
EMBRACE HOME LOANS, INC. 44 4.74% $14,620
EMM LOANS LLC 42 5.08% $15,489
HARBORONE MORTGAGE, LLC 42 5.16% $13,126
Sierra Pacific Mortgage Company, Inc. 41 4.46% $21,489
CMG MORTGAGE, INC. 40 5.02% $12,402
Citizens Bank 37 4.37% $14,683
ENVOY MORTGAGE, LTD 37 5.28% $13,690
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 36 4.86% $13,327
BROKER SOLUTIONS, INC. 35 4.75% $13,598
Shamrock Home Loans, Inc. 31 4.96% $16,650
Paramount Residential Mortgage Group, Inc. 31 4.82% $14,398
GUARANTEED RATE AFFINITY, LLC 30 4.74% $14,929
Leader Bank 30 4.63% $13,476
BAY EQUITY LLC 28 4.82% $17,460
DRAPER AND KRAMER MORTGAGE CORP. 28 5.21% $14,980
Rockland Trust Company 26 4.00% $13,567
MUTUAL OF OMAHA MORTGAGE, INC. 24 4.89% $18,678
NFM, INC. 24 4.95% $20,039
FIRST HOME MORTGAGE CORPORATION 23 4.92% $17,853
Fall River Five Cents Savings Bank 23 4.82% $16,503
OCMBC, INC. 21 4.85% $15,207
RELIANCE FIRST CAPITAL, LLC 20 4.76% $17,963
First Guaranty Mortgage Corporation 20 3.95% $16,787
American Mortgage & Equity Consultants, Inc. 19 5.49% $13,404
EQUITY RESOURCES, INC. 18 4.82% $16,800
PLAZA HOME MORTGAGE, INC. 18 4.20% $22,593
NATIONS RELIABLE LENDING, LLC 18 5.74% $17,736
Envision Bank 18 4.54% $12,139
The Federal Savings Bank 18 4.58% $17,288
Nations Lending Corporation 18 4.89% $15,805
TOP FLITE FINANCIAL, INC. 16 5.57% $26,022
Flagstar Bank, FSB 16 5.67% $15,696
Evolve Bank & Trust 15 4.73% $16,467
Ross Mortgage Company, Inc. 15 4.41% $20,469
Bank of England 14 4.74% $16,997
Waterstone Mortgage Corporation 14 5.12% $14,264
Eastern Bank 13 4.38% $14,630
Home Loan Investment Bank, F.S.B. 12 5.48% $13,819
NORWICH COMMERCIAL GROUP, INC. 11 5.17% $18,247
FIRST MORTGAGE COMPANY, INC. 11 4.79% $14,965
Carrington Mortgage Services, LLC 11 4.66% $14,496
Republic State Mortgage Co. 9 4.93% $20,541
TD Bank 9 4.51% $11,764
LEADERONE FINANCIAL CORPORATION 9 4.32% $13,077
Magnolia Bank 9 4.82% $27,539
Mortgage Research Center, LLC 8 4.70% $13,286
EVERETT FINANCIAL, INC. 8 5.28% $9,154
Semper Home Loans, Inc. 8 6.03% $22,393
HOMESIDE FINANCIAL, LLC 8 5.17% $15,114
NORTHPOINT MORTGAGE, INC. 8 4.67% $16,508
METRO 7 3.91% $10,208
PRIMARY RESIDENTIAL MORTGAGE, INC. 7 5.05% $15,373
TJC Mortgage, Inc. 7 4.61% $20,152
U.S. Bank 7 4.59% $13,134
Bank of America 6 4.29% $7,647
GENEVA FINANCIAL, LLC 6 6.27% $16,862
ZILLOW HOME LOANS, LLC 6 3.90% $17,402
CONTOUR MORTGAGE CORPORATION 6 4.69% $21,330
JPMorgan Chase Bank 6 5.06% $20,431
LADERA LENDING, INC. 6 4.77% $15,765
M&T Bank 6 4.42% $15,525
ALLIED MORTGAGE GROUP, INC. 6 4.67% $18,987
FINANCE OF AMERICA MORTGAGE LLC 6 5.19% $16,250
The Camden National Bank 5 4.95% $11,577
AMERICAN FINANCING CORPORATION 5 4.13% $12,733
Hometown Equity Mortgage, LLC 4 4.16% $18,552
POLARIS HOME FUNDING CORP. 4 6.25% $18,558
HOMESTEAD FUNDING CORP. 4 4.84% $14,073
Wells Fargo Bank 4 4.66% $12,024
Merchants Bank of Indiana 4 5.09% $14,977
Northpointe Bank 4 4.25% $22,403
Southern Mass Credit Union 3 3.88% $11,745
Poli Mortgage Group, Inc. 3 4.38% $13,395
The Washington Trust Company, of Westerly 3 4.13% $15,719
VILLAGE CAPITAL MORTGAGE 3 3.87% $16,247
Residential Mortgage Solutions, Inc. 3 5.13% $19,952
RESIDENTIAL BANCORP 3 4.16% $14,238
WILLIAM RAVEIS MORTGAGE, LLC 3 5.29% $14,672
PROVINCE MORTGAGE ASSOCIATES, INC. 3 6.33% $17,710
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 4.79% $17,699
Ixonia Bank 3 4.63% $19,386
AMERICAN FINANCIAL RESOURCES, INC. 3 3.83% $18,474
First Savings Bank 3 4.67% $15,376
HUNT MORTGAGE CORPORATION 3 5.13% $13,129
BAYCOAST MORTGAGE COMPANY, LLC 3 4.17% $8,874
Chickasaw Community Bank 2 4.00% $12,007
ARC HOME LLC 2 4.00% $15,910
Princeton Mortgage Corporation 2 6.75% $17,898
Plains Commerce Bank 2 6.50% $15,257
First Federal Bank 2 5.75% $28,057
CONWAY FINANCIAL SERVICES, LLC 2 5.38% $10,755
Bangor Savings Bank 2 5.00% $16,436
MID-ISLAND MORTGAGE CORP. 2 4.81% $26,727
Luxury Mortgage Corp. 2 4.13% $15,913
LIBERTY HOME MORTGAGE CORPORATION 2 5.69% $14,522
T2 FINANCIAL LLC 2 4.25% $16,478
SUCCESS MORTGAGE PARTNERS, INC. 2 5.25% $13,072
AMERICAN PACIFIC MORTGAGE CORPORATION 2 4.19% $12,793
DREW MORTGAGE ASSOCIATES, INC. 2 6.19% $21,464
MYCUMORTGAGE, LLC 2 5.06% $8,732
NATIONS DIRECT MORTGAGE, LLC 2 6.06% $20,113
NATIONWIDE MORTGAGE BANKERS, INC. 2 3.75% $30,032
Network Funding, L.P. 2 4.38% $16,532
NJ LENDERS CORP. 2 4.19% $20,711
First Internet Bank of Indiana 2 6.25% $11,642
HOMESPIRE MORTGAGE CORPORATION 2 5.56% $19,096
LOANLEADERS OF AMERICA, INC. 1 3.13% $33,858
AMERICAN FEDERAL MORTGAGE CORPORATION 1 3.13% $14,038
AmeriHome Mortgage Company, LLC 1 3.63% $9,766
Armed Forces Bank 1 3.63% $9,999
Barrington Bank & Trust Company, N.A. 1 4.75% $13,354
Berkshire Bank 1 3.00% $11,237
BETTER MORTGAGE CORPORATION 1 3.99% $11,748
BNC National Bank 1 5.25% $16,312
Bridgewater Savings Bank 1 3.75% $11,297
CANOPY MORTGAGE, LLC 1 4.50% $26,344
CHURCHILL MORTGAGE CORPORATION 1 5.63% $15,051
CRESCENT MORTGAGE COMPANY 1 3.75% $17,303
DAS Acquisition Company, LLC 1 5.50% $14,327
Easthampton Savings Bank 1 5.50% $11,712
FBC MORTGAGE, LLC 1 6.75% $14,998
FIRST COMMUNITY MORTGAGE, INC. 1 5.25% $11,708
First Home Bank 1 5.75% $34,589
First Option Mortgage, LLC 1 6.88% $37,805
GUARANTY HOME MORTGAGE CORPORATION 1 6.13% $20,567
Hometown Lenders, Inc. 1 4.75% $16,341
INTELLILOAN, INC. 1 5.25% $17,631
LANDED HOME LOANS LLC 1 5.75% $21,972
ACADEMY MORTGAGE CORPORATION 1 5.13% $14,253
MEMBERS MORTGAGE COMPANY, INC. 1 6.75% $13,736
MID AMERICA MORTGAGE, INC. 1 4.13% $4,247
MILEND, INC. 1 6.25% $15,315
MLD MORTGAGE INC. 1 3.75% $13,596
North American Savings Bank, F.S.B. 1 4.50% $10,103
NP, Inc. 1 6.75% $8,556
OAKTREE FUNDING CORP. 1 4.38% $24,191
Paramount Bank 1 5.50% $19,793
Peoples Bank 1 3.99% $15,647
PLANET HOME LENDING, LLC 1 4.50% $54,773
PNC Bank 1 6.00% $32,416
RUOFF MORTGAGE COMPANY, INC. 1 7.25% $12,417
SIRVA MORTGAGE, INC. 1 5.63% $17,218
SOUTHPOINT FINANCIAL SERVICES, INC. 1 4.75% $25,010
SOUTHWEST STAGE FUNDING, LLC 1 6.75% $13,208
Strong Home Mortgage, LLC 1 2.75% $11,240
Texana Bank 1 2.63% $14,620
The Huntington National Bank 1 4.63% $14,262
VAN DYK MORTGAGE CORPORATION 1 4.63% $7,160
Watermark Capital, Inc. 1 4.13% $15,360
Webster Bank 1 3.63% $14,142
Willamette Valley Bank 1 4.75% $17,448
Wyndham Capital Mortgage, Inc. 1 5.25% $10,069

The top Boston FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 443 FHA loans originated. Their average total fees are $16,075, which is $1,966 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee Boston FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($8,952), Envision Bank ($12,139), CMG MORTGAGE, INC. ($12,402), HARBORONE MORTGAGE, LLC ($13,126) and AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC ($13,327).

The lowest rate Boston FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC (3.58%), First Guaranty Mortgage Corporation (3.95%), Rockland Trust Company (4.00%), PENNYMAC LOAN SERVICES, LLC (4.08%) and Mr. Cooper ( Nationstar Mortgage ) (4.13%).

Boston FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
BOSTON-CAMBRIDGE-NEWTON, MA-NH ESSEX 2022 $770,500 $986,400 $1,192,300 $1,481,750
BOSTON-CAMBRIDGE-NEWTON, MA-NH MIDDLESEX 2022 $770,500 $986,400 $1,192,300 $1,481,750
BOSTON-CAMBRIDGE-NEWTON, MA-NH NORFOLK 2022 $770,500 $986,400 $1,192,300 $1,481,750
BOSTON-CAMBRIDGE-NEWTON, MA-NH PLYMOUTH 2022 $770,500 $986,400 $1,192,300 $1,481,750
BOSTON-CAMBRIDGE-NEWTON, MA-NH SUFFOLK 2022 $770,500 $986,400 $1,192,300 $1,481,750
BOSTON-CAMBRIDGE-NEWTON, MA-NH ROCKINGHAM 2022 $770,500 $986,400 $1,192,300 $1,481,750
BOSTON-CAMBRIDGE-NEWTON, MA-NH STRAFFORD 2022 $770,500 $986,400 $1,192,300 $1,481,750
BOSTON-CAMBRIDGE-NEWTON, MA-NH ESSEX 2023 $828,000 $1,060,000 $1,281,300 $1,592,350
BOSTON-CAMBRIDGE-NEWTON, MA-NH MIDDLESEX 2023 $828,000 $1,060,000 $1,281,300 $1,592,350
BOSTON-CAMBRIDGE-NEWTON, MA-NH NORFOLK 2023 $828,000 $1,060,000 $1,281,300 $1,592,350
BOSTON-CAMBRIDGE-NEWTON, MA-NH PLYMOUTH 2023 $828,000 $1,060,000 $1,281,300 $1,592,350
BOSTON-CAMBRIDGE-NEWTON, MA-NH SUFFOLK 2023 $828,000 $1,060,000 $1,281,300 $1,592,350
BOSTON-CAMBRIDGE-NEWTON, MA-NH ROCKINGHAM 2023 $828,000 $1,060,000 $1,281,300 $1,592,350
BOSTON-CAMBRIDGE-NEWTON, MA-NH STRAFFORD 2023 $828,000 $1,060,000 $1,281,300 $1,592,350

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Boston (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 $529,450 (6.0%) $858,963 (4.0%) 1.96 6,024
2018-02-01 $543,925 (5.6%) $875,791 (3.2%) 1.97 6,008
2018-03-01 $574,900 (6.5%) $907,076 (4.8%) 2.02 6,565
2018-04-01 $579,900 (5.5%) $900,058 (2.9%) 1.97 7,726
2018-05-01 $584,950 (6.2%) $896,274 (3.6%) 1.95 8,781
2018-06-01 $579,000 (5.3%) $876,372 (2.5%) 1.93 10,205
2018-07-01 $559,450 (1.9%) $857,233 (1.9%) 1.87 10,103
2018-08-01 $549,250 (3.6%) $825,211 (0.4%) 1.84 10,158
2018-09-01 $549,900 (3.8%) $806,990 (-1.4%) 1.85 11,371
2018-10-01 $549,000 (1.7%) $799,639 (-3.4%) 1.86 11,625
2018-11-01 $539,450 (-0.1%) $798,284 (-3.9%) 1.83 10,955
2018-12-01 $535,000 (1.1%) $798,729 (-5.6%) 1.85 8,824
2019-01-01 $533,900 (0.8%) $806,251 (-6.1%) 1.84 7,542
2019-02-01 $549,450 (1.0%) $851,143 (-2.8%) 1.86 7,336
2019-03-01 $571,386 (-0.6%) $884,062 (-2.5%) 1.87 8,059
2019-04-01 $599,900 (3.5%) $914,562 (1.6%) 1.90 8,915
2019-05-01 $602,450 (3.0%) $922,731 (3.0%) 1.88 9,950
2019-06-01 $599,900 (3.6%) $918,784 (4.8%) 1.87 11,096
2019-07-01 $599,900 (7.2%) $910,775 (6.3%) 1.88 10,604
2019-08-01 $595,643 (8.5%) $898,138 (8.8%) 1.89 10,685
2019-09-01 $589,259 (7.2%) $887,066 (9.9%) 1.89 10,878
2019-10-01 $587,806 (7.1%) $889,481 (11.2%) 1.90 11,006
2019-11-01 $589,900 (9.4%) $915,321 (14.7%) 1.93 9,635
2019-12-01 $589,450 (10.2%) $917,211 (14.8%) 1.97 7,007
2020-01-01 $586,600 (9.9%) $930,603 (15.4%) 1.96 5,779
2020-02-01 $599,900 (9.2%) $971,896 (14.2%) 1.96 5,750
2020-03-01 $629,900 (10.2%) $980,367 (10.9%) 1.97 6,617
2020-04-01 $617,450 (2.9%) $945,955 (3.4%) 1.93 6,435
2020-05-01 $629,900 (4.6%) $945,400 (2.5%) 1.91 7,200
2020-06-01 $656,699 (9.5%) $1,002,177 (9.1%) 1.93 7,782
2020-07-01 $677,000 (12.9%) $1,036,335 (13.8%) 1.96 7,395
2020-08-01 $675,000 (13.3%) $1,042,698 (16.1%) 1.93 7,191
2020-09-01 $672,500 (14.1%) $1,038,799 (17.1%) 1.93 7,579
2020-10-01 $665,000 (13.1%) $1,033,141 (16.2%) 1.91 7,944
2020-11-01 $654,450 (10.9%) $1,028,460 (12.4%) 1.91 7,085
2020-12-01 $647,450 (9.8%) $1,004,412 (9.5%) 1.93 5,301
2021-01-01 $659,000 (12.3%) $1,075,330 (15.6%) 1.97 4,099
2021-02-01 $679,450 (13.3%) $1,128,313 (16.1%) 1.98 3,872
2021-03-01 $682,250 (8.3%) $1,144,108 (16.7%) 1.94 4,267
2021-04-01 $694,000 (12.4%) $1,179,014 (24.6%) 1.88 4,773
2021-05-01 $699,800 (11.1%) $1,180,392 (24.9%) 1.86 4,879
2021-06-01 $697,225 (6.2%) $1,144,455 (14.2%) 1.84 5,738
2021-07-01 $669,900 (-1.1%) $1,113,575 (7.5%) 1.77 5,674
2021-08-01 $650,000 (-3.7%) $1,075,177 (3.1%) 1.73 5,574
2021-09-01 $671,000 (-0.2%) $1,055,466 (1.6%) 1.79 6,019
2021-10-01 $679,000 (2.1%) $1,062,835 (2.9%) 1.81 5,929
2021-11-01 $674,577 (3.1%) $1,073,504 (4.4%) 1.80 4,935
2021-12-01 $692,000 (6.9%) $1,141,128 (13.6%) 1.87 3,501
2022-01-01 $715,000 (8.5%) $1,220,127 (13.5%) 1.93 2,675
2022-02-01 $749,000 (10.2%) $1,237,957 (9.7%) 1.95 2,637
2022-03-01 $749,450 (9.9%) $1,254,177 (9.6%) 1.88 2,991
2022-04-01 $749,450 (8.0%) $1,243,532 (5.5%) 1.79 3,701
2022-05-01 $757,500 (8.3%) $1,242,269 (5.2%) 1.73 4,474
2022-06-01 $750,000 (7.6%) $1,172,907 (2.5%) 1.67 5,715
2022-07-01 $739,900 (10.5%) $1,110,707 (-0.3%) 1.67 6,177
2022-08-01 $725,000 (11.5%) $1,108,059 (3.1%) 1.68 5,759
2022-09-01 $744,000 (10.9%) $1,144,929 (8.5%) 1.74 5,913
2022-10-01 $749,000 (10.3%) $1,169,289 (10.0%) 1.76 6,223
2022-11-01 $744,925 (10.4%) $1,176,768 (9.6%) 1.79 5,903
2022-12-01 $749,000 (8.2%) $1,199,762 (5.1%) 1.85 4,407
2023-01-01 $759,450 (6.2%) $1,238,021 (1.5%) 1.88 3,697
2023-02-01 $799,000 (6.7%) $1,345,477 (8.7%) 1.93 3,433
2023-03-01 $823,500 (9.9%) $1,387,500 (10.6%) 1.94 3,705
2023-04-01 $839,000 (12.0%) $1,422,134 (14.4%) 1.95 4,059
2023-05-01 $867,125 (14.5%) $1,444,230 (16.3%) 1.97 4,314
2023-06-01 $866,443 (15.5%) $1,425,311 (21.5%) 1.95 4,806
2023-07-01 $849,900 (14.9%) $1,434,805 (29.2%) 1.93 4,538
2023-08-01 $844,200 (16.4%) $1,418,399 (28.0%) 1.94 4,530
2023-09-01 $849,000 (14.1%) $1,420,742 (24.1%) 1.98 4,931
2023-10-01 $837,374 (11.8%) $1,400,665 (19.8%) 1.97 5,351
2023-11-01 $824,500 (10.7%) $1,383,873 (17.6%) 1.96 5,205
2023-12-01 $800,000 (6.8%) $1,388,573 (15.7%) 1.95 4,062
Boston's median listing price for 2023-12-01 was $800,000, a difference of $51,000 (6.8%) versus the prior year and $-24,500 versus the prior month.

Boston's median listing price comes in at 195% of the national average.

Boston's average listing price for 2023-12-01 was $1,388,573, a difference of $188,811 (15.7%) versus the prior year and $4,700 versus the prior month.

For the 2023-12-01 period, Boston had 4,062 MLS listings, a difference of -1,143 listings (-22%) versus the prior month and -345 listings (-8%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Boston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 73 days 2,007 sqft
2018-02-01 57 days 2,025 sqft
2018-03-01 36 days 2,061 sqft
2018-04-01 29 days 2,042 sqft
2018-05-01 28 days 2,056 sqft
2018-06-01 32 days 2,044 sqft
2018-07-01 41 days 2,034 sqft
2018-08-01 46 days 2,012 sqft
2018-09-01 44 days 1,989 sqft
2018-10-01 44 days 1,967 sqft
2018-11-01 51 days 1,946 sqft
2018-12-01 65 days 1,937 sqft
2019-01-01 71 days 1,907 sqft
2019-02-01 56 days 1,925 sqft
2019-03-01 41 days 1,973 sqft
2019-04-01 32 days 2,025 sqft
2019-05-01 32 days 2,045 sqft
2019-06-01 37 days 2,054 sqft
2019-07-01 47 days 2,037 sqft
2019-08-01 49 days 2,020 sqft
2019-09-01 46 days 1,998 sqft
2019-10-01 44 days 1,983 sqft
2019-11-01 55 days 1,981 sqft
2019-12-01 75 days 1,932 sqft
2020-01-01 78 days 1,909 sqft
2020-02-01 43 days 1,959 sqft
2020-03-01 31 days 2,000 sqft
2020-04-01 45 days 1,996 sqft
2020-05-01 50 days 2,000 sqft
2020-06-01 31 days 1,967 sqft
2020-07-01 35 days 1,890 sqft
2020-08-01 37 days 1,844 sqft
2020-09-01 32 days 1,733 sqft
2020-10-01 31 days 1,692 sqft
2020-11-01 47 days 1,667 sqft
2020-12-01 62 days 1,652 sqft
2021-01-01 60 days 1,638 sqft
2021-02-01 33 days 1,652 sqft
2021-03-01 22 days 1,664 sqft
2021-04-01 18 days 1,668 sqft
2021-05-01 19 days 1,693 sqft
2021-06-01 19 days 1,711 sqft
2021-07-01 29 days 1,711 sqft
2021-08-01 31 days 1,710 sqft
2021-09-01 28 days 1,685 sqft
2021-10-01 30 days 1,656 sqft
2021-11-01 38 days 1,630 sqft
2021-12-01 49 days 1,649 sqft
2022-01-01 54 days 1,650 sqft
2022-02-01 25 days 1,663 sqft
2022-03-01 18 days 1,673 sqft
2022-04-01 15 days 1,685 sqft
2022-05-01 16 days 1,788 sqft
2022-06-01 18 days 1,813 sqft
2022-07-01 26 days 1,825 sqft
2022-08-01 35 days 1,832 sqft
2022-09-01 34 days 1,815 sqft
2022-10-01 31 days 1,813 sqft
2022-11-01 41 days 1,804 sqft
2022-12-01 58 days 1,836 sqft
2023-01-01 61 days 1,840 sqft
2023-02-01 37 days 1,861 sqft
2023-03-01 28 days 1,860 sqft
2023-04-01 25 days 1,849 sqft
2023-05-01 23 days 1,919 sqft
2023-06-01 24 days 1,911 sqft
2023-07-01 36 days 1,896 sqft
2023-08-01 37 days 1,900 sqft
2023-09-01 31 days 1,908 sqft
2023-10-01 32 days 1,879 sqft
2023-11-01 38 days 1,868 sqft
2023-12-01 53 days 1,835 sqft
Boston's median listing age (time on market) for 2023-12-01 was 53 days. This is -9% shorter than the same period one year ago.

Boston's median square footage for active listings during the 2023-12-01 period was 1,835 sqft. One year prior, the average listing was 1,836 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).