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%.
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.
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 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 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.
