Bridgeport FHA Loans

BRIDGEPORT-STAMFORD-NORWALK, CT

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.

Bridgeport's 158 lenders originated 3,073 FHA loans during 2021. The total origination value was $1,073,435,000, with an average FHA loan value of $349,312.

Bridgeport FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Bridgeport averaged 4.97% for the week of 2022-08-05, compared to the national average (all FHA variants) of 5.305% for the same period.

The average rate for the prior week (2022-07-29) was 5.51% and one month ago for the week of 2022-07-01, the average rate was 5.4%.

The average rate one year ago was 3%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.17%.

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

Bridgeport FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bridgeport level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 203 2.69% $8,772
TOTAL MORTGAGE SERVICES, LLC 184 3.28% $12,750
CALIBER HOME LOANS, INC. 144 2.75% $10,751
LOANDEPOT.COM, LLC 136 2.94% $13,311
HOMEBRIDGE FINANCIAL SERVICES, INC. 125 2.94% $12,107
FREEDOM MORTGAGE CORPORATION 104 2.75% $8,629
UNITED WHOLESALE MORTGAGE, LLC 102 2.67% $12,514
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 100 3.06% $11,017
LAKEVIEW LOAN SERVICING, LLC 88 2.90% $7,364
Mr. Cooper ( Nationstar Mortgage ) 72 3.07% $6,257
NEWREZ LLC 64 2.80% $10,136
CROSSCOUNTRY MORTGAGE, LLC 63 3.04% $13,415
Carrington Mortgage Services, LLC 50 3.24% $10,888
GUARANTEED RATE, INC. 47 2.83% $12,155
HOME POINT FINANCIAL CORPORATION 44 2.64% $11,648
MOVEMENT MORTGAGE, LLC 43 3.02% $9,725
PLAZA HOME MORTGAGE, INC. 43 3.09% $12,946
GUARANTEED RATE AFFINITY, LLC 41 3.08% $12,831
Lakeview Community Capital, LLC 37 2.91% $6,409
AMERICAN FINANCIAL NETWORK, INC. 37 3.04% $20,309
PRYSMA LENDING GROUP, LLC 36 2.93% $12,331
PRIMELENDING, A PLAINSCAPITAL COMPANY 36 3.15% $11,193
ENVOY MORTGAGE, LTD 35 2.98% $14,724
Citizens Bank 32 2.69% $12,068
CMG MORTGAGE, INC. 31 2.71% $12,565
FIRST WORLD MORTGAGE CORPORATION 31 2.96% $12,160
PENNYMAC LOAN SERVICES, LLC 30 2.96% $7,684
First Guaranty Mortgage Corporation 29 3.02% $12,324
NORWICH COMMERCIAL GROUP, INC. 26 3.25% $11,388
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 24 2.97% $13,706
NATIONWIDE MORTGAGE BANKERS, INC. 24 3.05% $16,169
AmeriHome Mortgage Company, LLC 22 2.76% $6,241
VILLAGE CAPITAL & INVESTMENT LLC 19 2.76% $2,596
Flagstar Bank, FSB 19 2.78% $10,853
WILLIAM RAVEIS MORTGAGE, LLC 19 2.55% $11,566
Evolve Bank & Trust 19 3.04% $10,777
UNITED NORTHERN MORTGAGE BANKERS LIMITED 18 2.92% $14,076
FINANCE OF AMERICA MORTGAGE LLC 17 2.84% $10,046
Manufacturers and Traders Trust Company 16 2.69% $12,315
Prosperity Home Mortgage, LLC 16 2.95% $11,582
Bank of America 15 2.60% $8,439
InterContinental Capital Group, Inc 15 3.12% $12,618
BROKER SOLUTIONS, INC. 15 2.79% $10,638
AMERISAVE MORTGAGE CORPORATION 15 2.85% $10,668
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 14 2.96% $15,773
HOMESTEAD FUNDING CORP. 12 3.19% $9,597
PLANET HOME LENDING, LLC 12 2.71% $6,327
PRIMARY RESIDENTIAL MORTGAGE, INC. 11 3.48% $13,040
The Federal Savings Bank 11 2.59% $12,023
Newtown Savings Bank 11 2.73% $10,112
Magnolia Bank 11 2.82% $13,906
SUN WEST MORTGAGE COMPANY, INC. 10 3.02% $15,132
Paramount Residential Mortgage Group, Inc. 10 2.99% $12,868
JET DIRECT FUNDING CORP 10 3.10% $18,878
UNITED MORTGAGE CORP. 10 3.18% $13,531
Bank of England 9 3.03% $13,174
Savings Bank of Danbury 9 2.93% $11,748
RELIANCE FIRST CAPITAL, LLC 9 3.21% $11,152
PROVINCE MORTGAGE ASSOCIATES, INC. 9 2.82% $11,326
Equity Prime Mortgage LLC 9 3.03% $15,481
HOMESIDE FINANCIAL, LLC 8 3.20% $11,401
PANORAMA MORTGAGE GROUP, LLC 8 3.34% $13,360
ARC HOME LLC 8 2.70% $12,025
Northpointe Bank 7 3.02% $11,807
CONTOUR MORTGAGE CORPORATION 7 2.50% $13,342
EQUITY RESOURCES, INC. 7 3.02% $10,937
US MORTGAGE CORPORATION 6 3.08% $17,131
ROUNDPOINT MORTGAGE SERVICING CORPORATION 6 3.00% $10,501
KeyBank 5 2.88% $11,421
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 3.15% $11,072
OCEANSIDE MORTGAGE COMPANY 5 2.75% $5,632
RESIDENTIAL HOME FUNDING CORP. 5 3.33% $13,716
JPMorgan Chase Bank 5 3.00% $7,090
TBI MORTGAGE COMPANY 4 2.75% $14,017
Atlantic Home Loans, Inc. 4 3.00% $12,636
BAY EQUITY LLC 4 2.72% $11,522
FAMILY FIRST FUNDING LLC 4 3.41% $14,378
First Savings Bank 4 3.16% $19,670
FM Home Loans, LLC 4 2.81% $13,362
NJ LENDERS CORP. 4 2.88% $11,852
OCMBC, INC. 4 2.97% $10,920
Wells Fargo Bank 4 3.13% $10,500
TD Bank 3 2.71% $11,137
EMBRACE HOME LOANS, INC. 3 2.71% $11,275
MUTUAL OF OMAHA MORTGAGE, INC. 3 3.21% $9,739
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 3 3.00% $10,689
EVERETT FINANCIAL, INC. 3 3.79% $7,679
HARTFORD FUNDING, LTD. 3 3.08% $11,525
People's United Bank 3 2.83% $8,151
SOVEREIGN LENDING GROUP INCORPORATED 3 2.75% $11,388
Union Savings Bank 3 2.75% $11,159
East Coast Capital Corp. 3 3.08% $17,886
KELLER MORTGAGE, LLC 3 2.67% $10,218
LENDING CAPITAL GROUP Inc 2 2.75% $17,292
INLAND BANK & TRUST 2 3.19% $14,045
MID-ISLAND MORTGAGE CORP. 2 2.56% $16,208
Mortgage Network, Inc. 2 2.88% $12,454
Mortgage Unlimited, L.L.C. 2 2.94% $13,441
Hometown Equity Mortgage, LLC 2 2.81% $14,569
NATIONS DIRECT MORTGAGE, LLC 2 3.38% $25,472
NFM, INC. 2 3.00% $13,616
GENEVA FINANCIAL, LLC 2 2.63% $13,082
First Federal Bank 2 2.69% $9,728
PARKSIDE LENDING, LLC 2 2.50% $12,506
PHH Mortgage Corporation 2 3.00% $7,440
Plains Commerce Bank 2 2.94% $17,520
EMM LOANS LLC 2 2.81% $11,138
CLIFFCO, INC. 2 2.88% $14,088
Sierra Pacific Mortgage Company, Inc. 2 2.75% $12,705
STEARNS LENDING, LLC 2 2.75% $12,463
ABSOLUTE HOME MORTGAGE CORPORATION 2 3.06% $10,263
ASSOCIATED MORTGAGE BANKERS, INC. 2 3.13% $17,658
U.S. Bank 2 2.69% $12,246
ALLIED MORTGAGE GROUP, INC. 2 3.50% $10,642
ZILLOW HOME LOANS, LLC 2 2.31% $9,701
Low VA Rates, LLC 1 2.75% $3,427
Nations Lending Corporation 1 3.25% $25,922
AMERICAN FINANCIAL RESOURCES, INC. 1 2.63% $9,713
Home Loan Investment Bank, F.S.B. 1 2.63% $12,815
Mortgage Research Center, LLC 1 2.99% $11,281
Valley National Bank 1 3.25% $11,425
Citibank 1 2.75% $13,175
Century Mortgage Company DBA Century Lending Company 1 3.00% $10,097
Blue Ridge Bank 1 3.25% $11,566
BETTER MORTGAGE CORPORATION 1 2.50% $10,627
Bethpage Federal Credit Union 1 2.75% $4,425
RESIDENTIAL MORTGAGE SERVICES, INC. 1 3.00% $10,982
Residential Mortgage Solutions, Inc. 1 2.75% $13,245
BAYSHORE MORTGAGE FUNDING, LLC 1 2.50% $12,618
S1L, Inc. 1 3.25% $8,962
Santander Bank, N.A. 1 2.75% $11,008
BAYCOAST MORTGAGE COMPANY, LLC 1 2.75% $6,652
LEADERONE FINANCIAL CORPORATION 1 2.63% $7,872
MORTGAGE ACCESS CORP. 1 2.75% $11,938
Webster Bank 1 3.00% $7,924
Strong Home Mortgage, LLC 1 2.25% $14,078
SUCCESS MORTGAGE PARTNERS, INC. 1 2.63% $6,938
Barrington Bank & Trust Company, N.A. 1 2.88% $10,715
JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 1 3.50% $12,803
Hometown Lenders, Inc. 1 4.25% $16,621
BANKSOUTH MORTGAGE COMPANY, LLC 1 3.63% $10,530
Thomaston Savings Bank 1 2.88% $9,820
Willamette Valley Bank 1 3.25% $13,482
GUILD MORTGAGE COMPANY 1 3.13% $8,477
GuardHill Financial Corp. 1 3.75% $15,740
TOWNE MORTGAGE COMPANY 1 2.75% $8,151
A&D Mortgage LLC 1 3.00% $15,654
GUARANTY HOME MORTGAGE CORPORATION 1 3.63% $7,471
NORTHPOINT MORTGAGE, INC. 1 3.00% $9,169
GREENWAY MORTGAGE FUNDING CORP. 1 3.25% $11,688
INTERSTATE HOME LOAN CENTER, INC. 1 3.00% $16,856
Wyndham Capital Mortgage, Inc. 1 3.00% $8,287
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 2.75% $7,728
FirstBank 1 2.63% $8,272
Luxury Mortgage Corp. 1 2.75% $18,288
FIRST ALLIANCE HOME MORTGAGE, LLC 1 3.38% $14,756
NBKC BANK 1 2.75% $10,475
AMERICAN FINANCING CORPORATION 1 2.75% $11,757

The top Bridgeport FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 203 FHA loans originated. Their average total fees are $8,772, which is $3,977 lower than the next largest lender, TOTAL MORTGAGE SERVICES, LLC.

The lowest fee Bridgeport FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,596), AmeriHome Mortgage Company, LLC ($6,241), Mr. Cooper ( Nationstar Mortgage ) ($6,257), PLANET HOME LENDING, LLC ($6,327) and Lakeview Community Capital, LLC ($6,409).

The lowest rate Bridgeport FHA lenders (with over 10 loans originated) are WILLIAM RAVEIS MORTGAGE, LLC (2.55%), The Federal Savings Bank (2.59%), Bank of America (2.60%), HOME POINT FINANCIAL CORPORATION (2.64%) and UNITED WHOLESALE MORTGAGE, LLC (2.67%).

Bridgeport FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
BRIDGEPORT-STAMFORD-NORWALK, CT FAIRFIELD 2022 $695,750 $890,700 $1,076,650 $1,338,000

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Bridgeport (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 $734,000 (-1.3%) $1,413,882 (-8.9%) 2.70 5,657
2018-02-01 $775,000 (-2.5%) $1,439,440 (-8.9%) 2.80 6,197
2018-03-01 $795,000 (-4.7%) $1,424,498 (-11.1%) 2.75 7,034
2018-04-01 $787,000 (-5.8%) $1,394,617 (-12.3%) 2.64 7,910
2018-05-01 $791,500 (-4.9%) $1,381,268 (-11.6%) 2.64 8,659
2018-06-01 $782,500 (-5.2%) $1,363,113 (-12.0%) 2.61 9,009
2018-07-01 $762,500 (-4.6%) $1,384,964 (-9.3%) 2.54 8,817
2018-08-01 $733,000 (1.2%) $1,346,321 (-4.8%) 2.45 8,492
2018-09-01 $748,000 (0.1%) $1,355,960 (-5.3%) 2.50 8,497
2018-10-01 $749,000 (0.0%) $1,373,907 (-2.1%) 2.51 8,463
2018-11-01 $746,200 (1.0%) $1,399,205 (-0.7%) 2.50 7,927
2018-12-01 $735,000 (0.8%) $1,423,017 (1.6%) 2.52 6,860
2019-01-01 $727,000 (-1.0%) $1,405,192 (-0.6%) 2.51 6,202
2019-02-01 $739,000 (-4.7%) $1,390,363 (-3.4%) 2.48 6,731
2019-03-01 $747,100 (-6.0%) $1,384,915 (-2.8%) 2.43 7,311
2019-04-01 $754,450 (-4.1%) $1,387,142 (-0.5%) 2.38 7,881
2019-05-01 $749,950 (-5.3%) $1,379,041 (-0.2%) 2.31 8,666
2019-06-01 $739,000 (-5.6%) $1,361,950 (-0.1%) 2.27 8,926
2019-07-01 $722,500 (-5.3%) $1,342,140 (-3.1%) 2.25 8,651
2019-08-01 $710,429 (-3.1%) $1,332,756 (-1.0%) 2.24 8,239
2019-09-01 $699,000 (-6.6%) $1,333,188 (-1.7%) 2.22 7,978
2019-10-01 $699,000 (-6.7%) $1,343,036 (-2.3%) 2.23 7,863
2019-11-01 $699,000 (-6.3%) $1,327,419 (-5.1%) 2.26 7,194
2019-12-01 $699,000 (-4.9%) $1,345,851 (-5.4%) 2.33 5,943
2020-01-01 $699,250 (-3.8%) $1,363,952 (-2.9%) 2.33 5,240
2020-02-01 $700,000 (-5.3%) $1,338,569 (-3.7%) 2.26 5,753
2020-03-01 $704,450 (-5.7%) $1,323,271 (-4.5%) 2.20 6,346
2020-04-01 $721,500 (-4.4%) $1,365,719 (-1.5%) 2.25 5,813
2020-05-01 $749,000 (-0.1%) $1,419,776 (3.0%) 2.27 5,790
2020-06-01 $739,000 (0.0%) $1,409,557 (3.5%) 2.16 6,540
2020-07-01 $724,950 (0.3%) $1,404,554 (4.7%) 2.08 6,608
2020-08-01 $699,000 (-1.6%) $1,406,741 (5.6%) 2.00 6,277
2020-09-01 $699,500 (0.1%) $1,428,762 (7.2%) 2.00 5,933
2020-10-01 $699,900 (0.1%) $1,455,197 (8.4%) 2.00 5,768
2020-11-01 $697,500 (-0.2%) $1,479,626 (11.5%) 2.00 5,092
2020-12-01 $699,000 (0.0%) $1,534,280 (14.0%) 2.05 4,227
2021-01-01 $699,900 (0.1%) $1,580,939 (15.9%) 2.06 3,466
2021-02-01 $729,450 (4.2%) $1,624,631 (21.4%) 2.10 3,355
2021-03-01 $727,000 (3.2%) $1,579,281 (19.4%) 2.04 3,562
2021-04-01 $725,000 (0.5%) $1,575,066 (15.3%) 1.95 3,772
2021-05-01 $739,000 (-1.3%) $1,577,553 (11.1%) 1.95 4,222
2021-06-01 $947,000 (28.2%) $1,973,447 (40.0%) 2.46 2,991
2021-07-01 $907,000 (25.1%) $1,927,178 (37.2%) 2.36 3,098
2021-08-01 $819,500 (17.2%) $1,827,928 (29.9%) 2.15 3,033
2021-09-01 $829,000 (18.5%) $1,823,736 (27.6%) 2.18 2,898
2021-10-01 $839,000 (19.9%) $1,878,659 (29.1%) 2.21 2,695
2021-11-01 $889,500 (27.5%) $1,966,940 (32.9%) 2.34 2,263
2021-12-01 $895,000 (28.0%) $2,051,361 (33.7%) 2.39 1,824
2022-01-01 $969,000 (38.5%) $2,283,846 (44.5%) 2.58 1,486
2022-02-01 $1,200,000 (64.5%) $2,554,254 (57.2%) 3.06 1,398
2022-03-01 $1,197,000 (64.7%) $2,508,335 (58.8%) 2.96 1,407
2022-04-01 $1,050,000 (44.8%) $2,402,408 (52.5%) 2.47 1,518
2022-05-01 $980,000 (32.6%) $2,170,022 (37.6%) 2.19 1,947
2022-06-01 $982,000 (3.7%) $2,094,358 (6.1%) 2.18 2,232
Bridgeport's median listing price for 2022-06-01 was $982,000, a difference of $35,000 (3.7%) versus the prior year and $2,000 versus the prior month.

Bridgeport's median listing price comes in at 218% of the national average.

Bridgeport's average listing price for 2022-06-01 was $2,094,358, a difference of $120,911 (6.1%) versus the prior year and $-75,664 versus the prior month.

For the 2022-06-01 period, Bridgeport had 2,232 MLS listings, a difference of 285 listings (15%) versus the prior month and -759 listings (-25%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Bridgeport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 113 days 2,654 sqft
2018-02-01 104 days 2,717 sqft
2018-03-01 62 days 2,745 sqft
2018-04-01 60 days 2,728 sqft
2018-05-01 59 days 2,719 sqft
2018-06-01 63 days 2,689 sqft
2018-07-01 74 days 2,669 sqft
2018-08-01 87 days 2,614 sqft
2018-09-01 99 days 2,610 sqft
2018-10-01 100 days 2,646 sqft
2018-11-01 102 days 2,659 sqft
2018-12-01 106 days 2,662 sqft
2019-01-01 117 days 2,629 sqft
2019-02-01 112 days 2,658 sqft
2019-03-01 67 days 2,681 sqft
2019-04-01 60 days 2,714 sqft
2019-05-01 59 days 2,843 sqft
2019-06-01 65 days 2,927 sqft
2019-07-01 75 days 2,890 sqft
2019-08-01 91 days 2,849 sqft
2019-09-01 95 days 2,833 sqft
2019-10-01 94 days 2,848 sqft
2019-11-01 93 days 2,830 sqft
2019-12-01 103 days 2,797 sqft
2020-01-01 114 days 2,767 sqft
2020-02-01 102 days 2,786 sqft
2020-03-01 59 days 2,824 sqft
2020-04-01 68 days 2,830 sqft
2020-05-01 78 days 2,887 sqft
2020-06-01 60 days 2,878 sqft
2020-07-01 49 days 2,808 sqft
2020-08-01 53 days 2,677 sqft
2020-09-01 54 days 2,660 sqft
2020-10-01 50 days 2,650 sqft
2020-11-01 58 days 2,589 sqft
2020-12-01 66 days 2,530 sqft
2021-01-01 77 days 2,513 sqft
2021-02-01 65 days 2,556 sqft
2021-03-01 43 days 2,498 sqft
2021-04-01 35 days 2,490 sqft
2021-05-01 35 days 2,504 sqft
2021-06-01 37 days 2,828 sqft
2021-07-01 43 days 2,781 sqft
2021-08-01 51 days 2,394 sqft
2021-09-01 58 days 2,394 sqft
2021-10-01 60 days 2,381 sqft
2021-11-01 64 days 2,331 sqft
2021-12-01 77 days 2,246 sqft
2022-01-01 87 days 2,364 sqft
2022-02-01 66 days 2,474 sqft
2022-03-01 39 days 2,463 sqft
2022-04-01 29 days 2,456 sqft
2022-05-01 25 days 2,415 sqft
2022-06-01 30 days 2,495 sqft
Bridgeport's median listing age (time on market) for 2022-06-01 was 30 days. This is -19% shorter than the same period one year ago.

Bridgeport's median square footage for active listings during the 2022-06-01 period was 2,495 sqft. One year prior, the average listing was 2,828 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).