Boston FHA Loan Rates, Closing Costs & Stats

BOSTON, 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.

Boston FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Boston averaged 0% for the week of 2025-04-11, compared to the national average (all FHA variants) of 6.429% for the same period.

Boston's average FHA mortgage closing costs are $0.

The average rate for the prior week (2025-04-04) was 0% and one month ago for the week of 2025-03-07, the average rate was 0%.

The average rate one year ago was 0%.

For refis of the same type during the week of 2025-04-11, the average rate was 0%.

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

The lowest fee Boston FHA lenders (with over 10 loans originated) are .

The lowest rate Boston FHA lenders (with over 10 loans originated) are .


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%) $858,909 (4.0%) 1.96 6,025
2018-02-01 $543,950 (5.6%) $875,742 (3.2%) 1.97 6,009
2018-03-01 $574,900 (6.5%) $907,026 (4.8%) 2.02 6,566
2018-04-01 $579,900 (5.5%) $900,017 (2.9%) 1.97 7,727
2018-05-01 $584,948 (6.3%) $896,211 (3.6%) 1.95 8,782
2018-06-01 $579,000 (5.3%) $876,342 (2.5%) 1.93 10,206
2018-07-01 $559,450 (1.9%) $857,205 (1.9%) 1.87 10,104
2018-08-01 $549,250 (3.7%) $825,186 (0.4%) 1.84 10,159
2018-09-01 $549,900 (3.8%) $807,022 (-1.4%) 1.85 11,370
2018-10-01 $549,000 (1.7%) $799,693 (-3.4%) 1.86 11,625
2018-11-01 $539,450 (-0.1%) $798,464 (-3.9%) 1.83 10,955
2018-12-01 $535,000 (1.1%) $799,069 (-5.5%) 1.85 8,825
2019-01-01 $534,115 (0.9%) $806,675 (-6.1%) 1.85 7,543
2019-02-01 $549,450 (1.0%) $851,550 (-2.8%) 1.86 7,338
2019-03-01 $571,386 (-0.6%) $884,231 (-2.5%) 1.87 8,060
2019-04-01 $599,900 (3.5%) $914,458 (1.6%) 1.90 8,915
2019-05-01 $602,450 (3.0%) $923,196 (3.0%) 1.88 9,954
2019-06-01 $599,900 (3.6%) $919,131 (4.9%) 1.87 11,100
2019-07-01 $599,900 (7.2%) $910,659 (6.2%) 1.88 10,611
2019-08-01 $595,413 (8.4%) $898,041 (8.8%) 1.89 10,691
2019-09-01 $588,682 (7.1%) $886,963 (9.9%) 1.88 10,882
2019-10-01 $587,422 (7.0%) $889,369 (11.2%) 1.90 11,009
2019-11-01 $589,900 (9.4%) $915,234 (14.6%) 1.93 9,637
2019-12-01 $589,450 (10.2%) $917,039 (14.8%) 1.97 7,010
2020-01-01 $586,475 (9.8%) $930,450 (15.3%) 1.96 5,781
2020-02-01 $599,900 (9.2%) $971,823 (14.1%) 1.96 5,751
2020-03-01 $629,900 (10.2%) $980,307 (10.9%) 1.97 6,618
2020-04-01 $617,450 (2.9%) $945,898 (3.4%) 1.93 6,436
2020-05-01 $629,900 (4.6%) $945,286 (2.4%) 1.91 7,201
2020-06-01 $656,448 (9.4%) $1,002,089 (9.0%) 1.93 7,783
2020-07-01 $677,000 (12.9%) $1,036,285 (13.8%) 1.96 7,395
2020-08-01 $675,000 (13.4%) $1,042,626 (16.1%) 1.93 7,192
2020-09-01 $672,500 (14.2%) $1,038,728 (17.1%) 1.93 7,580
2020-10-01 $665,000 (13.2%) $1,033,072 (16.2%) 1.91 7,945
2020-11-01 $654,450 (10.9%) $1,028,384 (12.4%) 1.91 7,086
2020-12-01 $647,450 (9.8%) $1,004,437 (9.5%) 1.93 5,301
2021-01-01 $659,000 (12.4%) $1,075,262 (15.6%) 1.97 4,101
2021-02-01 $679,575 (13.3%) $1,128,516 (16.1%) 1.98 3,873
2021-03-01 $682,450 (8.3%) $1,144,321 (16.7%) 1.94 4,268
2021-04-01 $694,000 (12.4%) $1,179,202 (24.7%) 1.88 4,773
2021-05-01 $699,900 (11.1%) $1,180,552 (24.9%) 1.86 4,879
2021-06-01 $697,000 (6.2%) $1,144,781 (14.2%) 1.83 5,732
2021-07-01 $669,900 (-1.1%) $1,113,863 (7.5%) 1.77 5,671
2021-08-01 $650,000 (-3.7%) $1,075,317 (3.1%) 1.73 5,570
2021-09-01 $671,125 (-0.2%) $1,055,488 (1.6%) 1.79 6,017
2021-10-01 $679,000 (2.1%) $1,062,841 (2.9%) 1.81 5,926
2021-11-01 $674,520 (3.1%) $1,073,459 (4.4%) 1.80 4,934
2021-12-01 $692,000 (6.9%) $1,141,086 (13.6%) 1.87 3,502
2022-01-01 $718,000 (9.0%) $1,220,393 (13.5%) 1.94 2,674
2022-02-01 $749,000 (10.2%) $1,237,957 (9.7%) 1.95 2,637
2022-03-01 $749,450 (9.8%) $1,253,974 (9.6%) 1.88 2,989
2022-04-01 $749,000 (7.9%) $1,243,220 (5.4%) 1.79 3,700
2022-05-01 $757,500 (8.2%) $1,242,168 (5.2%) 1.73 4,473
2022-06-01 $750,000 (7.6%) $1,172,824 (2.5%) 1.67 5,714
2022-07-01 $739,900 (10.5%) $1,110,621 (-0.3%) 1.67 6,177
2022-08-01 $725,000 (11.5%) $1,108,093 (3.1%) 1.68 5,758
2022-09-01 $744,000 (10.9%) $1,145,100 (8.5%) 1.74 5,911
2022-10-01 $749,000 (10.3%) $1,169,523 (10.0%) 1.76 6,222
2022-11-01 $744,925 (10.4%) $1,176,829 (9.6%) 1.79 5,902
2022-12-01 $749,000 (8.2%) $1,199,921 (5.2%) 1.85 4,407
2023-01-01 $759,450 (5.8%) $1,238,354 (1.5%) 1.88 3,696
2023-02-01 $799,000 (6.7%) $1,345,528 (8.7%) 1.93 3,434
2023-03-01 $824,000 (10.0%) $1,387,476 (10.7%) 1.94 3,706
2023-04-01 $839,000 (12.0%) $1,422,134 (14.4%) 1.95 4,059
2023-05-01 $867,125 (14.5%) $1,444,295 (16.3%) 1.97 4,314
2023-06-01 $866,443 (15.5%) $1,425,445 (21.5%) 1.95 4,805
2023-07-01 $849,900 (14.9%) $1,434,729 (29.2%) 1.93 4,538
2023-08-01 $844,200 (16.4%) $1,418,326 (28.0%) 1.94 4,530
2023-09-01 $849,000 (14.1%) $1,420,577 (24.1%) 1.98 4,932
2023-10-01 $837,374 (11.8%) $1,400,585 (19.8%) 1.97 5,352
2023-11-01 $824,725 (10.7%) $1,383,825 (17.6%) 1.96 5,207
2023-12-01 $800,000 (6.8%) $1,388,687 (15.7%) 1.95 4,063
2024-01-01 $809,900 (6.6%) $1,405,659 (13.5%) 1.98 3,369
2024-02-01 $854,450 (6.9%) $1,496,024 (11.2%) 2.06 3,319
2024-03-01 $879,950 (6.8%) $1,528,390 (10.2%) 2.07 3,737
2024-04-01 $869,900 (3.7%) $1,489,605 (4.7%) 2.02 4,365
2024-05-01 $894,000 (3.1%) $1,516,763 (5.0%) 2.03 4,944
2024-06-01 $864,500 (-0.2%) $1,453,499 (2.0%) 1.97 5,916
2024-07-01 $853,950 (0.5%) $1,433,895 (-0.1%) 1.95 5,830
2024-08-01 $834,000 (-1.2%) $1,406,130 (-0.9%) 1.94 5,724
2024-09-01 $839,900 (-1.1%) $1,415,902 (-0.3%) 1.98 6,399
2024-10-01 $837,450 (0.0%) $1,401,180 (0.0%) 1.97 6,625
2024-11-01 $819,900 (-0.6%) $1,395,790 (0.9%) 1.97 5,884
2024-12-01 $801,383 (0.2%) $1,394,884 (0.5%) 1.99 4,107
2025-01-01 $799,450 (-1.3%) $1,386,348 (-1.4%) 2.00 3,621
2025-02-01 $839,450 (-1.8%) $1,461,182 (-2.3%) 2.04 3,706
2025-03-01 $869,000 (-1.2%) $1,514,021 (-0.9%) 0.00 4,423
Boston's median listing price for 2025-03-01 was $869,000, a difference of $-10,950 (-1.2%) versus the prior year and $29,550 versus the prior month.

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

Boston's average listing price for 2025-03-01 was $1,514,021, a difference of $-14,369 (-0.9%) versus the prior year and $52,839 versus the prior month.

For the 2025-03-01 period, Boston had 4,423 MLS listings, a difference of 717 listings (19%) versus the prior month and 686 listings (18%) 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 2,055 sqft
2018-06-01 32 days 2,044 sqft
2018-07-01 41 days 2,033 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 45 days 1,983 sqft
2019-11-01 55 days 1,981 sqft
2019-12-01 75 days 1,931 sqft
2020-01-01 78 days 1,908 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 1,966 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 1,668 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 1,665 sqft
2021-04-01 18 days 1,668 sqft
2021-05-01 19 days 1,693 sqft
2021-06-01 19 days 1,709 sqft
2021-07-01 29 days 1,710 sqft
2021-08-01 31 days 1,709 sqft
2021-09-01 28 days 1,685 sqft
2021-10-01 30 days 1,655 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 1,672 sqft
2022-04-01 15 days 1,685 sqft
2022-05-01 16 days 1,787 sqft
2022-06-01 18 days 1,813 sqft
2022-07-01 26 days 1,826 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 60 days 1,844 sqft
2023-02-01 37 days 1,861 sqft
2023-03-01 28 days 1,860 sqft
2023-04-01 25 days 1,850 sqft
2023-05-01 23 days 1,919 sqft
2023-06-01 24 days 1,911 sqft
2023-07-01 36 days 1,895 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
2024-01-01 53 days 1,814 sqft
2024-02-01 33 days 1,838 sqft
2024-03-01 24 days 1,830 sqft
2024-04-01 24 days 1,808 sqft
2024-05-01 24 days 1,878 sqft
2024-06-01 25 days 1,884 sqft
2024-07-01 37 days 1,896 sqft
2024-08-01 39 days 1,875 sqft
2024-09-01 31 days 1,873 sqft
2024-10-01 34 days 1,850 sqft
2024-11-01 45 days 1,840 sqft
2024-12-01 60 days 1,805 sqft
2025-01-01 56 days 1,756 sqft
2025-02-01 33 days 1,792 sqft
2025-03-01 0 days 1,814 sqft
Boston's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

Boston's median square footage for active listings during the 2025-03-01 period was 1,814 sqft. One year prior, the average listing was 1,830 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).