Boston FHA Loan Rates, Closing Costs & Stats

Boston-Cambridge-Newton, MA-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.

    Boston's 146 lenders originated 4,527 FHA loans during 2024. The total origination value was $2,352,585,000, with an average FHA loan value of $519,679.

    Boston FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Boston averaged -0.05% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Boston's average FHA mortgage closing costs are $12,797.

    The average rate for the prior week (2025-06-27) was 6.53% and one month ago for the week of 2025-05-30, the average rate was 6.61%.

    The average rate one year ago was 6.73%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.03%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 449 6.17% $20,221
    QUICKEN LOANS, LLC 334 6.20% $18,782
    CROSSCOUNTRY MORTGAGE, LLC 264 6.49% $18,215
    GUARANTEED RATE, INC. 215 6.19% $18,866
    GUILD MORTGAGE COMPANY 151 6.26% $21,671
    LOANDEPOT.COM, LLC 147 6.34% $16,742
    CMG MORTGAGE, INC. 144 6.62% $16,537
    FREEDOM MORTGAGE CORPORATION 143 6.32% $19,263
    MOVEMENT MORTGAGE, LLC 130 6.44% $17,683
    MSA MORTGAGE, LLC 117 5.98% $17,439
    TOTAL MORTGAGE SERVICES, LLC 109 6.43% $21,703
    PENNYMAC LOAN SERVICES, LLC 104 5.98% $16,076
    SALEM FIVE MORTGAGE COMPANY, LLC 74 6.24% $16,509
    NEWREZ LLC 70 6.24% $17,546
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 66 6.41% $23,789
    NEW FED MORTGAGE, CORP. 61 6.36% $17,689
    EMM LOANS LLC 59 6.21% $17,063
    BROKER SOLUTIONS, INC. 58 6.49% $16,960
    Fall River Five Cents Savings Bank 55 5.98% $18,828
    Mr. Cooper ( Nationstar Mortgage ) 54 6.45% $19,337
    MORTGAGE EQUITY PARTNERS LLC 52 6.42% $21,793
    MUTUAL OF OMAHA MORTGAGE, INC. 52 6.31% $25,474
    LAKEVIEW LOAN SERVICING, LLC 48 6.19% $12,928
    RADIUS FINANCIAL GROUP INC. 45 6.60% $19,659
    PRIMELENDING, A PLAINSCAPITAL COMPANY 41 6.51% $20,002
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 37 6.69% $16,317
    Leader Bank 31 6.20% $14,946
    Sierra Pacific Mortgage Company, Inc. 30 6.15% $19,143
    AMERISAVE MORTGAGE CORPORATION 30 6.14% $22,848
    AMERICAN FINANCIAL NETWORK, INC. 29 6.47% $20,917
    GUARANTEED RATE AFFINITY, LLC 27 6.34% $16,289
    HARBORONE MORTGAGE, LLC 27 6.35% $14,300
    Paramount Residential Mortgage Group, Inc. 25 6.52% $20,026
    NORTHPOINT MORTGAGE, INC. 25 6.43% $16,022
    FIRST HOME MORTGAGE CORPORATION 21 6.45% $23,178
    FIRST MORTGAGE COMPANY, INC. 20 6.12% $17,892
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 20 6.55% $14,219
    EMBRACE HOME LOANS, INC. 19 6.30% $18,595
    NATIONS RELIABLE LENDING, LLC 19 6.30% $25,605
    NATIONS DIRECT MORTGAGE, LLC 19 6.62% $20,029
    PLAZA HOME MORTGAGE, INC. 18 6.65% $20,781
    Citizens Bank 18 6.38% $16,341
    Rockland Trust Company 18 6.35% $13,919
    M&T Bank 17 6.23% $17,584
    Keystone Funding, Inc. 17 6.37% $15,923
    NFM, INC. 16 6.70% $22,825
    Eastern Bank 16 6.14% $14,274
    ENVOY MORTGAGE, LTD 15 6.63% $15,936
    HOMESIDE FINANCIAL, LLC 15 6.44% $25,125
    HOMEBRIDGE FINANCIAL SERVICES, INC. 14 6.52% $16,483
    PHH Mortgage Corporation 14 6.02% $14,466
    VILLAGE CAPITAL MORTGAGE 13 6.19% $13,998
    FIRST COMMUNITY MORTGAGE, INC. 13 6.32% $24,564
    Nations Lending Corporation 12 6.20% $20,156
    BAY EQUITY LLC 12 6.36% $14,843
    Flagstar Bank, FSB 12 6.31% $11,896
    RELIANCE FIRST CAPITAL, LLC 12 6.59% $19,680
    CARDINAL FINANCIAL 12 5.83% $23,332
    TJC Mortgage, Inc. 12 6.26% $20,819
    The Federal Savings Bank 11 6.19% $24,394
    Equity Prime Mortgage LLC 11 6.92% $21,542
    OCMBC, INC. 11 6.61% $19,426
    WILLIAM RAVEIS MORTGAGE, LLC 10 6.46% $15,865
    The Washington Trust Company, of Westerly 10 6.09% $16,522
    JMAC LENDING, INC. 10 6.30% $22,576
    NORWICH COMMERCIAL GROUP, INC. 10 6.48% $17,122
    Home Loan Investment Bank, F.S.B. 9 6.51% $15,051
    MILEND, INC. 9 6.22% $20,579
    DREW MORTGAGE ASSOCIATES, INC. 9 6.50% $17,301
    American Mortgage & Equity Consultants, Inc. 8 6.88% $15,246
    Evolve Bank & Trust 8 6.42% $14,818
    LADERA LENDING, INC. 8 6.02% $17,642
    AmeriHome Mortgage Company, LLC 7 6.63% $15,932
    Berkshire Bank 7 5.63% $16,097
    Cornerstone First Mortgage, Inc 7 6.09% $26,188
    PRIMARY RESIDENTIAL MORTGAGE, INC. 7 6.80% $18,977
    TOP FLITE FINANCIAL, INC. 7 6.73% $38,470
    ALLIED MORTGAGE GROUP, INC. 7 6.27% $13,537
    PROVINCE MORTGAGE ASSOCIATES, INC. 6 6.73% $19,028
    Easthampton Savings Bank 6 6.21% $13,098
    Semper Home Loans, Inc. 6 6.40% $22,988
    MID-ISLAND MORTGAGE CORP. 6 6.31% $12,300
    AMERICAN FINANCING CORPORATION 6 6.40% $21,744
    ZILLOW HOME LOANS, LLC 5 6.43% $18,425
    AMERICAN FINANCIAL RESOURCES, INC. 5 5.98% $19,616
    BETTER MORTGAGE CORPORATION 5 5.85% $11,631
    HOMESTEAD FUNDING CORP. 5 6.55% $10,348
    Ixonia Bank 5 6.53% $23,143
    Magnolia Bank 5 5.98% $30,722
    METRO 5 5.75% $16,655
    MLD MORTGAGE INC. 5 6.10% $20,967
    Mortgage Research Center, LLC 5 6.70% $11,421
    Plains Commerce Bank 5 6.43% $13,657
    Prosperity Home Mortgage, LLC 5 6.28% $14,234
    Republic State Mortgage Co. 5 6.73% $15,070
    POLARIS HOME FUNDING CORP. 4 6.41% $26,523
    Bank of England 4 6.63% $17,786
    BAYCOAST MORTGAGE COMPANY, LLC 4 6.25% $14,191
    LEADERONE FINANCIAL CORPORATION 4 6.25% $17,708
    U.S. Bank 4 6.53% $13,691
    LOANPAL, LLC 3 5.38% $20,205
    Northpointe Bank 3 6.58% $21,336
    FIRST COLONY MORTGAGE CORPORATION 3 5.54% $20,276
    Barrington Bank & Trust Company, N.A. 3 6.75% $8,343
    Bank of America 3 6.63% $11,047
    Wells Fargo Bank 3 6.50% $12,759
    Waterstone Mortgage Corporation 3 7.54% $19,243
    RESIDENTIAL BANCORP 3 6.08% $15,778
    LIBERTY HOME MORTGAGE CORPORATION 3 6.71% $17,207
    Carrington Mortgage Services, LLC 3 6.13% $17,770
    PLANET HOME LENDING, LLC 2 6.31% $7,159
    Texana Bank 2 6.44% $19,338
    US MORTGAGE CORPORATION 2 6.00% $14,726
    Bangor Savings Bank 2 6.63% $9,533
    CHURCHILL MORTGAGE CORPORATION 2 6.06% $24,501
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.56% $33,177
    FBC MORTGAGE, LLC 2 6.25% $15,059
    Bridgewater Savings Bank 2 6.38% $14,696
    NBKC BANK 2 6.62% $10,785
    The Cape Cod Five Cents Savings Bank 2 5.25% $15,369
    Century Mortgage Company DBA Century Lending Company 2 6.44% $11,746
    Paramount Bank 2 6.31% $16,360
    UNION HOME MORTGAGE CORP. 2 5.63% $12,033
    TBI MORTGAGE COMPANY 1 6.49% $23,556
    OCEANSIDE MORTGAGE COMPANY 1 6.75% $7,819
    Lakeview Community Capital, LLC 1 6.13% $9,721
    JPMorgan Chase Bank 1 6.63% $22,179
    PENTAGON FEDERAL CREDIT UNION 1 6.00% $16,577
    INTELLILOAN, INC. 1 6.25% $5,651
    HOMESPIRE MORTGAGE CORPORATION 1 6.25% $20,690
    Home Mortgage Alliance Corp 1 7.25% $20,507
    GENEVA FINANCIAL, LLC 1 6.25% $14,256
    Arvest Bank 1 5.88% $19,658
    EVERETT FINANCIAL, INC. 1 6.63% $5,781
    CIBM Bank 1 6.25% $14,441
    Residential Mortgage Solutions, Inc. 1 6.00% $29,673
    CALCON MUTUAL MORTGAGE LLC 1 6.00% $32,860
    SIRVA MORTGAGE, INC. 1 6.00% $9,200
    Sunflower Bank 1 7.25% $12,729
    T2 FINANCIAL LLC 1 6.00% $18,837
    The Camden National Bank 1 5.75% $11,553
    The Union Bank Company 1 5.25% $12,775
    TOWNE MORTGAGE COMPANY 1 6.13% $20,874
    BankNewport 1 7.00% $24,266
    Network Funding, L.P. 1 7.25% $12,480
    NATIONWIDE MORTGAGE BANKERS, INC. 1 5.75% $24,649

    The top Boston FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 449 FHA loans originated. Their average total fees are $20,221, which is $1,439 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Boston FHA lenders (with over 10 loans originated) are Flagstar Bank, FSB ($11,896), LAKEVIEW LOAN SERVICING, LLC ($12,928), Rockland Trust Company ($13,919), VILLAGE CAPITAL MORTGAGE ($13,998) and ARK-LA-TEX FINANCIAL SERVICES, LLC. ($14,219).

    The lowest rate Boston FHA lenders (with over 10 loans originated) are CARDINAL FINANCIAL (5.83%), Fall River Five Cents Savings Bank (5.98%), PENNYMAC LOAN SERVICES, LLC (5.98%), MSA MORTGAGE, LLC (5.98%) and PHH Mortgage Corporation (6.02%).

    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

    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).