Bridgeport FHA Loan Rates, Closing Costs & Stats

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 111 lenders originated 934 FHA loans during 2023. The total origination value was $402,690,000, with an average FHA loan value of $431,146.

Bridgeport FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Bridgeport averaged 6.41% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Bridgeport's average FHA mortgage closing costs are $11,807.

The average rate for the prior week (2024-04-05) was 6.63% and one month ago for the week of 2024-03-08, the average rate was 6.57%.

The average rate one year ago was 6.21%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.8%.

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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bridgeport level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 83 6.27% $18,883
QUICKEN LOANS, LLC 73 6.31% $16,363
TOTAL MORTGAGE SERVICES, LLC 69 6.34% $15,924
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 51 6.60% $15,995
CROSSCOUNTRY MORTGAGE, LLC 39 6.68% $16,400
HOMEBRIDGE FINANCIAL SERVICES, INC. 35 6.26% $17,472
LOANDEPOT.COM, LLC 28 6.28% $17,960
NEWREZ LLC 28 6.43% $15,997
CMG MORTGAGE, INC. 20 6.85% $17,104
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 18 6.63% $26,312
CARDINAL FINANCIAL 15 6.65% $21,380
PRYSMA LENDING GROUP, LLC 14 7.01% $19,294
Carrington Mortgage Services, LLC 13 6.22% $18,397
NATIONWIDE MORTGAGE BANKERS, INC. 13 6.62% $19,855
NORWICH COMMERCIAL GROUP, INC. 13 6.45% $15,025
PLAZA HOME MORTGAGE, INC. 12 6.53% $16,810
AMERISAVE MORTGAGE CORPORATION 12 6.20% $18,479
MOVEMENT MORTGAGE, LLC 12 6.64% $20,660
CALIBER HOME LOANS, INC. 11 6.05% $14,593
PENNYMAC LOAN SERVICES, LLC 11 5.91% $16,531
U.S. Bank 10 6.43% $16,297
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 10 6.39% $19,481
Magnolia Bank 9 6.89% $19,388
PRIMELENDING, A PLAINSCAPITAL COMPANY 9 6.44% $18,329
FREEDOM MORTGAGE CORPORATION 9 6.88% $22,811
GUARANTEED RATE, INC. 9 6.18% $12,162
AMERICAN FINANCIAL NETWORK, INC. 8 6.89% $21,514
Mr. Cooper ( Nationstar Mortgage ) 8 6.19% $18,803
FIRST WORLD MORTGAGE CORPORATION 8 6.44% $13,737
WILLIAM RAVEIS MORTGAGE, LLC 7 6.54% $13,918
Prosperity Home Mortgage, LLC 7 6.36% $16,303
Citizens Bank 7 6.09% $18,097
MUTUAL OF OMAHA MORTGAGE, INC. 7 6.11% $16,014
UNITED NORTHERN MORTGAGE BANKERS LIMITED 7 6.71% $20,451
CONTOUR MORTGAGE CORPORATION 7 6.32% $16,839
GUARANTEED RATE AFFINITY, LLC 6 6.65% $16,742
JET DIRECT FUNDING CORP 6 6.42% $17,339
RELIANCE FIRST CAPITAL, LLC 6 6.31% $22,284
Newtown Savings Bank 5 6.08% $13,700
BROKER SOLUTIONS, INC. 5 6.85% $16,962
The Federal Savings Bank 5 5.75% $26,332
Equity Prime Mortgage LLC 4 6.81% $13,787
CONTINENTAL MORTGAGE BANKERS, INC. 4 6.50% $17,735
ENVOY MORTGAGE, LTD 4 6.31% $17,727
M&T Bank 4 5.78% $14,812
Plains Commerce Bank 4 5.81% $25,531
LAKEVIEW LOAN SERVICING, LLC 3 5.92% $18,696
PLANET HOME LENDING, LLC 3 5.96% $12,143
TOP FLITE FINANCIAL, INC. 3 6.63% $17,280
Mortgage Research Center, LLC 3 6.79% $15,973
EVERETT FINANCIAL, INC. 3 6.54% $22,732
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.50% $15,020
Paramount Residential Mortgage Group, Inc. 3 7.13% $14,652
US MORTGAGE CORPORATION 3 7.38% $15,418
VILLAGE CAPITAL MORTGAGE 3 6.13% $9,087
Loan Simple, Inc. 3 6.38% $22,230
NATIONS DIRECT MORTGAGE, LLC 3 5.96% $25,968
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 6.92% $19,366
HOMESTEAD FUNDING CORP. 3 5.83% $9,754
East Coast Capital Corp. 2 6.94% $19,277
JPMorgan Chase Bank 2 6.69% $11,601
PROVINCE MORTGAGE ASSOCIATES, INC. 2 6.38% $10,772
Century Mortgage Company DBA Century Lending Company 2 7.06% $14,792
FM Home Loans, LLC 2 6.50% $24,102
AMERICAN FINANCIAL RESOURCES, INC. 2 6.25% $22,728
OCMBC, INC. 2 6.88% $18,346
Residential Mortgage Solutions, Inc. 2 6.19% $16,838
Keystone Funding, Inc. 2 6.19% $18,633
TBI MORTGAGE COMPANY 2 5.75% $31,222
Bank of England 2 7.56% $18,615
EMM LOANS LLC 2 6.19% $20,962
MORTGAGE ACCESS CORP. 2 7.19% $19,001
Wells Fargo Bank 2 6.63% $13,049
RESIDENTIAL BANCORP 1 7.38% $13,625
RESIDENTIAL HOME FUNDING CORP. 1 6.75% $19,190
Savings Bank of Danbury 1 7.13% $11,519
Shamrock Home Loans, Inc. 1 7.75% $17,372
SUN WEST MORTGAGE COMPANY, INC. 1 6.75% $22,106
TD Bank 1 6.38% $16,806
BETTER MORTGAGE CORPORATION 1 6.13% $15,526
Bank of America 1 5.88% $7,748
AmeriHome Mortgage Company, LLC 1 5.63% $31,782
WALL STREET MORTGAGE BANKERS, LTD. 1 6.49% $16,631
Ixonia Bank 1 6.13% $22,471
INTERSTATE HOME LOAN CENTER, INC. 1 5.63% $13,654
KeyBank 1 6.75% $12,233
LAND HOME FINANCIAL SERVICES, INC. 1 7.50% $19,812
LEADERONE FINANCIAL CORPORATION 1 6.75% $22,652
LIBERTY HOME MORTGAGE CORPORATION 1 7.13% $22,119
HUDSON VALLEY CREDIT UNION 1 6.38% $19,436
HOMESIDE FINANCIAL, LLC 1 7.12% $23,782
MLB RESIDENTIAL LENDING, LLC 1 6.00% $16,157
MORTGAGE EQUITY PARTNERS LLC 1 7.00% $16,722
GUILD MORTGAGE COMPANY 1 6.50% $11,481
Flagstar Bank, FSB 1 7.25% $20,727
Nations Lending Corporation 1 7.75% $32,917
FIRST ALLIANCE HOME MORTGAGE, LLC 1 5.75% $20,184
Evolve Bank & Trust 1 7.25% $14,624
NFM, INC. 1 7.38% $18,018
NJ LENDERS CORP. 1 6.75% $9,383
Northpointe Bank 1 6.25% $18,755
EQUITY RESOURCES, INC. 1 6.88% $13,660
PANORAMA MORTGAGE GROUP, LLC 1 6.63% $22,293
AMCAP MORTGAGE, LTD. 1 7.13% $15,809
ZILLOW HOME LOANS, LLC 1 6.63% $20,185
POLARIS HOME FUNDING CORP. 1 7.13% $12,858
PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.25% $31,610
CLIFFCO, INC. 1 7.25% $14,545
Citibank 1 6.50% $12,563
Quontic Bank 1 7.13% $25,085
CANOPY MORTGAGE, LLC 1 6.13% $11,446

The top Bridgeport FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 83 FHA loans originated. Their average total fees are $18,883, which is $2,520 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Bridgeport FHA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. ($14,593), NORWICH COMMERCIAL GROUP, INC. ($15,025), TOTAL MORTGAGE SERVICES, LLC ($15,924), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($15,995) and NEWREZ LLC ($15,997).

The lowest rate Bridgeport FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.91%), CALIBER HOME LOANS, INC. (6.05%), AMERISAVE MORTGAGE CORPORATION (6.20%), Carrington Mortgage Services, LLC (6.22%) and HOMEBRIDGE FINANCIAL SERVICES, INC. (6.26%).

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
BRIDGEPORT-STAMFORD-NORWALK, CT FAIRFIELD 2023 $707,250 $905,400 $1,094,450 $1,360,100

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 $699,500 (5.4%) $1,349,864 (-5.6%) 2.59 4,142
2018-02-01 $749,450 (5.3%) $1,388,677 (-4.9%) 2.72 4,424
2018-03-01 $779,000 (5.0%) $1,385,274 (-6.1%) 2.73 4,889
2018-04-01 $784,000 (4.7%) $1,376,353 (-6.1%) 2.66 5,456
2018-05-01 $792,125 (5.8%) $1,374,050 (-5.0%) 2.65 5,915
2018-06-01 $769,498 (2.7%) $1,345,218 (-6.7%) 2.57 6,266
2018-07-01 $748,925 (1.9%) $1,349,653 (-4.5%) 2.50 6,174
2018-08-01 $724,950 (3.6%) $1,327,643 (-3.6%) 2.43 5,982
2018-09-01 $725,000 (1.4%) $1,333,920 (-3.2%) 2.44 6,020
2018-10-01 $725,000 (0.9%) $1,338,571 (0.6%) 2.46 5,928
2018-11-01 $712,000 (1.8%) $1,350,919 (1.6%) 2.41 5,579
2018-12-01 $699,900 (0.1%) $1,381,021 (3.2%) 2.41 4,875
2019-01-01 $699,225 (0.0%) $1,381,227 (2.3%) 2.42 4,402
2019-02-01 $729,475 (-2.7%) $1,387,358 (-0.1%) 2.46 4,654
2019-03-01 $747,857 (-4.0%) $1,389,514 (0.3%) 2.45 5,025
2019-04-01 $749,500 (-4.4%) $1,396,667 (1.5%) 2.38 5,400
2019-05-01 $749,450 (-5.4%) $1,379,349 (0.4%) 2.34 5,941
2019-06-01 $727,000 (-5.5%) $1,370,165 (1.9%) 2.27 6,213
2019-07-01 $704,913 (-5.9%) $1,339,593 (-0.8%) 2.21 6,118
2019-08-01 $695,182 (-4.1%) $1,328,739 (0.1%) 2.20 5,985
2019-09-01 $689,455 (-4.9%) $1,321,369 (-0.9%) 2.21 5,865
2019-10-01 $690,136 (-4.8%) $1,320,867 (-1.3%) 2.23 5,726
2019-11-01 $689,000 (-3.2%) $1,316,809 (-2.5%) 2.26 5,173
2019-12-01 $687,000 (-1.8%) $1,333,069 (-3.5%) 2.29 4,312
2020-01-01 $684,000 (-2.2%) $1,337,991 (-3.1%) 2.29 3,818
2020-02-01 $709,000 (-2.8%) $1,347,010 (-2.9%) 2.32 4,013
2020-03-01 $724,950 (-3.1%) $1,352,642 (-2.7%) 2.27 4,302
2020-04-01 $719,000 (-4.1%) $1,372,983 (-1.7%) 2.25 4,049
2020-05-01 $749,000 (-0.1%) $1,442,175 (4.6%) 2.28 3,983
2020-06-01 $799,450 (10.0%) $1,547,983 (13.0%) 2.36 3,984
2020-07-01 $808,750 (14.7%) $1,605,459 (19.9%) 2.34 3,868
2020-08-01 $799,000 (14.9%) $1,640,877 (23.5%) 2.29 3,625
2020-09-01 $799,000 (15.9%) $1,656,796 (25.4%) 2.29 3,423
2020-10-01 $799,000 (15.8%) $1,669,110 (26.4%) 2.29 3,335
2020-11-01 $775,000 (12.5%) $1,676,719 (27.3%) 2.27 2,931
2020-12-01 $799,000 (16.3%) $1,719,649 (29.0%) 2.38 2,538
2021-01-01 $819,000 (19.7%) $1,801,028 (34.6%) 2.44 2,094
2021-02-01 $880,000 (24.1%) $1,905,641 (41.5%) 2.56 1,862
2021-03-01 $868,250 (19.8%) $1,884,860 (39.4%) 2.46 1,886
2021-04-01 $839,900 (16.8%) $1,898,405 (38.3%) 2.27 2,034
2021-05-01 $875,000 (16.8%) $1,898,015 (31.6%) 2.32 2,257
2021-06-01 $836,500 (4.6%) $1,802,780 (16.5%) 2.20 2,478
2021-07-01 $750,000 (-7.3%) $1,661,461 (3.5%) 1.98 2,674
2021-08-01 $699,450 (-12.5%) $1,599,162 (-2.5%) 1.87 2,605
2021-09-01 $699,900 (-12.4%) $1,602,451 (-3.3%) 1.87 2,460
2021-10-01 $699,000 (-12.5%) $1,637,888 (-1.9%) 1.86 2,300
2021-11-01 $754,000 (-2.7%) $1,746,425 (4.2%) 2.02 1,912
2021-12-01 $747,450 (-6.5%) $1,810,480 (5.3%) 2.02 1,544
2022-01-01 $789,450 (-3.6%) $1,977,672 (9.8%) 2.13 1,248
2022-02-01 $882,999 (0.3%) $2,274,941 (19.4%) 2.30 1,165
2022-03-01 $899,000 (3.5%) $2,254,087 (19.6%) 2.25 1,181
2022-04-01 $864,500 (2.9%) $2,165,980 (14.1%) 2.06 1,294
2022-05-01 $844,500 (-3.5%) $1,952,691 (2.9%) 1.93 1,691
2022-06-01 $840,750 (0.5%) $1,850,165 (2.6%) 1.87 1,918
2022-07-01 $825,000 (10.0%) $1,791,913 (7.9%) 1.86 2,091
2022-08-01 $808,363 (15.6%) $1,818,265 (13.7%) 1.87 1,975
2022-09-01 $782,000 (11.7%) $1,825,632 (13.9%) 1.83 1,961
2022-10-01 $799,000 (14.3%) $1,880,252 (14.8%) 1.88 1,920
2022-11-01 $806,700 (7.0%) $1,908,588 (9.3%) 1.94 1,723
2022-12-01 $799,700 (7.0%) $1,954,578 (8.0%) 1.97 1,407
2023-01-01 $810,000 (2.6%) $1,956,560 (-1.1%) 2.01 1,237
2023-02-01 $963,450 (9.1%) $2,267,314 (-0.3%) 2.33 1,181
2023-03-01 $1,098,975 (22.2%) $2,354,081 (4.4%) 2.59 1,188
2023-04-01 $1,159,000 (34.1%) $2,369,541 (9.4%) 2.70 1,210
2023-05-01 $1,197,500 (41.8%) $2,405,258 (23.2%) 2.72 1,315
2023-06-01 $1,171,250 (39.3%) $2,345,282 (26.8%) 2.63 1,356
2023-07-01 $1,099,500 (33.3%) $2,305,695 (28.7%) 2.50 1,329
2023-08-01 $949,950 (17.5%) $2,021,392 (11.2%) 2.18 1,268
2023-09-01 $911,950 (16.6%) $1,965,708 (7.7%) 2.12 1,348
2023-10-01 $889,225 (11.3%) $2,005,054 (6.6%) 2.09 1,365
2023-11-01 $875,000 (8.5%) $1,972,836 (3.4%) 2.08 1,311
2023-12-01 $817,500 (2.2%) $2,015,127 (3.1%) 1.99 1,039
2024-01-01 $805,950 (-0.5%) $2,008,166 (2.6%) 1.97 945
2024-02-01 $869,450 (-9.8%) $2,065,401 (-8.9%) 2.09 988
2024-03-01 $949,000 (-13.7%) $2,132,471 (-9.4%) 2.23 1,014
Bridgeport's median listing price for 2024-03-01 was $949,000, a difference of $-149,975 (-13.7%) versus the prior year and $79,550 versus the prior month.

Bridgeport's median listing price comes in at 223% of the national average.

Bridgeport's average listing price for 2024-03-01 was $2,132,471, a difference of $-221,610 (-9.4%) versus the prior year and $67,070 versus the prior month.

For the 2024-03-01 period, Bridgeport had 1,014 MLS listings, a difference of 26 listings (3%) versus the prior month and -174 listings (-15%) 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
2018-01-01 108 days 2,631 sqft
2018-02-01 96 days 2,717 sqft
2018-03-01 58 days 2,793 sqft
2018-04-01 57 days 2,795 sqft
2018-05-01 56 days 2,791 sqft
2018-06-01 60 days 2,736 sqft
2018-07-01 72 days 2,718 sqft
2018-08-01 84 days 2,680 sqft
2018-09-01 92 days 2,670 sqft
2018-10-01 90 days 2,699 sqft
2018-11-01 88 days 2,669 sqft
2018-12-01 99 days 2,668 sqft
2019-01-01 108 days 2,652 sqft
2019-02-01 98 days 2,717 sqft
2019-03-01 74 days 2,747 sqft
2019-04-01 55 days 2,795 sqft
2019-05-01 55 days 2,895 sqft
2019-06-01 63 days 2,998 sqft
2019-07-01 73 days 2,941 sqft
2019-08-01 81 days 2,913 sqft
2019-09-01 86 days 2,904 sqft
2019-10-01 88 days 2,899 sqft
2019-11-01 87 days 2,888 sqft
2019-12-01 99 days 2,837 sqft
2020-01-01 108 days 2,812 sqft
2020-02-01 95 days 2,852 sqft
2020-03-01 57 days 2,924 sqft
2020-04-01 69 days 2,888 sqft
2020-05-01 75 days 2,951 sqft
2020-06-01 50 days 3,061 sqft
2020-07-01 43 days 3,023 sqft
2020-08-01 49 days 2,941 sqft
2020-09-01 52 days 2,888 sqft
2020-10-01 50 days 2,830 sqft
2020-11-01 57 days 2,722 sqft
2020-12-01 69 days 2,637 sqft
2021-01-01 81 days 2,621 sqft
2021-02-01 71 days 2,719 sqft
2021-03-01 43 days 2,658 sqft
2021-04-01 32 days 2,665 sqft
2021-05-01 32 days 2,721 sqft
2021-06-01 34 days 2,612 sqft
2021-07-01 39 days 2,441 sqft
2021-08-01 48 days 2,188 sqft
2021-09-01 54 days 2,174 sqft
2021-10-01 53 days 2,166 sqft
2021-11-01 57 days 2,131 sqft
2021-12-01 67 days 2,083 sqft
2022-01-01 75 days 2,126 sqft
2022-02-01 44 days 2,324 sqft
2022-03-01 30 days 2,304 sqft
2022-04-01 22 days 2,276 sqft
2022-05-01 20 days 2,258 sqft
2022-06-01 27 days 2,319 sqft
2022-07-01 32 days 2,283 sqft
2022-08-01 44 days 2,432 sqft
2022-09-01 52 days 2,401 sqft
2022-10-01 52 days 2,437 sqft
2022-11-01 55 days 2,454 sqft
2022-12-01 71 days 2,441 sqft
2023-01-01 74 days 2,391 sqft
2023-02-01 57 days 2,528 sqft
2023-03-01 39 days 2,642 sqft
2023-04-01 36 days 2,688 sqft
2023-05-01 26 days 2,862 sqft
2023-06-01 32 days 2,967 sqft
2023-07-01 38 days 2,938 sqft
2023-08-01 50 days 2,737 sqft
2023-09-01 46 days 2,690 sqft
2023-10-01 42 days 2,650 sqft
2023-11-01 48 days 2,616 sqft
2023-12-01 61 days 2,539 sqft
2024-01-01 64 days 2,490 sqft
2024-02-01 43 days 2,535 sqft
2024-03-01 37 days 2,616 sqft
Bridgeport's median listing age (time on market) for 2024-03-01 was 37 days. This is -5% shorter than the same period one year ago.

Bridgeport's median square footage for active listings during the 2024-03-01 period was 2,616 sqft. One year prior, the average listing was 2,642 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).