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 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
-0.14%
for the week of 2022-11-25, compared to the national average (all FHA variants) of
0% for the same period.
Bridgeport's average FHA mortgage closing costs are $10,662.
The average rate for the prior week (2022-11-18) was
6.39% and
one month ago for the week of 2022-10-21, the
average rate was 6.8%.
The average rate one year ago was 3.37%.
For refis of the same type during the week of 2022-11-25, the average rate
was -0.53%.
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.
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 MORTGAGE ($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 | $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 (-6.2%) | 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 | $748,900 (1.9%) | $1,349,480 (-4.5%) | 2.50 | 6,176 |
| 2018-08-01 | $724,725 (3.5%) | $1,327,277 (-3.6%) | 2.43 | 5,984 |
| 2018-09-01 | $725,000 (1.4%) | $1,333,746 (-3.2%) | 2.43 | 6,021 |
| 2018-10-01 | $725,000 (0.9%) | $1,338,247 (0.5%) | 2.45 | 5,930 |
| 2018-11-01 | $712,000 (1.8%) | $1,350,522 (1.5%) | 2.41 | 5,581 |
| 2018-12-01 | $699,900 (0.1%) | $1,380,555 (3.2%) | 2.41 | 4,877 |
| 2019-01-01 | $699,000 (-0.1%) | $1,380,842 (2.3%) | 2.41 | 4,403 |
| 2019-02-01 | $729,450 (-2.7%) | $1,387,117 (-0.1%) | 2.46 | 4,655 |
| 2019-03-01 | $746,714 (-4.1%) | $1,389,262 (0.3%) | 2.44 | 5,026 |
| 2019-04-01 | $749,500 (-4.4%) | $1,396,456 (1.5%) | 2.38 | 5,402 |
| 2019-05-01 | $749,450 (-5.4%) | $1,378,618 (0.3%) | 2.34 | 5,949 |
| 2019-06-01 | $725,000 (-5.8%) | $1,369,181 (1.8%) | 2.27 | 6,220 |
| 2019-07-01 | $704,450 (-5.9%) | $1,338,492 (-0.8%) | 2.21 | 6,128 |
| 2019-08-01 | $695,182 (-4.1%) | $1,327,864 (0.0%) | 2.20 | 5,994 |
| 2019-09-01 | $689,455 (-4.9%) | $1,320,526 (-1.0%) | 2.21 | 5,874 |
| 2019-10-01 | $690,136 (-4.8%) | $1,319,929 (-1.4%) | 2.23 | 5,735 |
| 2019-11-01 | $689,000 (-3.2%) | $1,315,563 (-2.6%) | 2.26 | 5,183 |
| 2019-12-01 | $687,000 (-1.8%) | $1,331,533 (-3.6%) | 2.29 | 4,322 |
| 2020-01-01 | $684,000 (-2.2%) | $1,335,787 (-3.3%) | 2.29 | 3,826 |
| 2020-02-01 | $709,000 (-2.8%) | $1,344,865 (-3.1%) | 2.32 | 4,021 |
| 2020-03-01 | $724,725 (-2.9%) | $1,350,628 (-2.8%) | 2.27 | 4,311 |
| 2020-04-01 | $717,000 (-4.3%) | $1,370,752 (-1.8%) | 2.24 | 4,058 |
| 2020-05-01 | $746,000 (-0.5%) | $1,440,153 (4.5%) | 2.27 | 3,991 |
| 2020-06-01 | $799,425 (10.3%) | $1,545,698 (12.9%) | 2.35 | 3,992 |
| 2020-07-01 | $807,000 (14.6%) | $1,602,728 (19.7%) | 2.34 | 3,876 |
| 2020-08-01 | $799,000 (14.9%) | $1,637,963 (23.4%) | 2.29 | 3,633 |
| 2020-09-01 | $799,000 (15.9%) | $1,654,134 (25.3%) | 2.29 | 3,432 |
| 2020-10-01 | $797,000 (15.5%) | $1,665,898 (26.2%) | 2.28 | 3,345 |
| 2020-11-01 | $772,500 (12.1%) | $1,673,216 (27.2%) | 2.26 | 2,941 |
| 2020-12-01 | $795,000 (15.7%) | $1,714,470 (28.8%) | 2.36 | 2,546 |
| 2021-01-01 | $809,950 (18.4%) | $1,794,722 (34.4%) | 2.42 | 2,103 |
| 2021-02-01 | $869,500 (22.6%) | $1,898,180 (41.1%) | 2.53 | 1,871 |
| 2021-03-01 | $856,375 (18.2%) | $1,877,667 (39.0%) | 2.43 | 1,895 |
| 2021-04-01 | $837,000 (16.7%) | $1,891,648 (38.0%) | 2.27 | 2,042 |
| 2021-05-01 | $871,500 (16.8%) | $1,889,594 (31.2%) | 2.31 | 2,262 |
| 2021-06-01 | $828,500 (3.6%) | $1,796,337 (16.2%) | 2.18 | 2,482 |
| 2021-07-01 | $750,000 (-7.1%) | $1,656,580 (3.4%) | 1.97 | 2,675 |
| 2021-08-01 | $699,450 (-12.5%) | $1,593,787 (-2.7%) | 1.87 | 2,607 |
| 2021-09-01 | $699,900 (-12.4%) | $1,597,125 (-3.5%) | 1.87 | 2,463 |
| 2021-10-01 | $699,000 (-12.3%) | $1,630,827 (-2.1%) | 1.86 | 2,306 |
| 2021-11-01 | $751,750 (-2.7%) | $1,737,647 (3.9%) | 2.01 | 1,919 |
| 2021-12-01 | $744,500 (-6.4%) | $1,800,551 (5.0%) | 2.02 | 1,552 |
| 2022-01-01 | $785,998 (-3.0%) | $1,965,933 (9.5%) | 2.12 | 1,256 |
| 2022-02-01 | $865,749 (-0.4%) | $2,261,492 (19.1%) | 2.25 | 1,172 |
| 2022-03-01 | $892,500 (4.2%) | $2,239,500 (19.3%) | 2.23 | 1,189 |
| 2022-04-01 | $858,000 (2.5%) | $2,153,346 (13.8%) | 2.05 | 1,303 |
| 2022-05-01 | $839,450 (-3.7%) | $1,947,772 (3.1%) | 1.92 | 1,701 |
| 2022-06-01 | $832,000 (0.4%) | $1,843,985 (2.7%) | 1.85 | 1,928 |
| 2022-07-01 | $821,950 (9.6%) | $1,786,414 (7.8%) | 1.86 | 2,101 |
| 2022-08-01 | $804,725 (15.1%) | $1,812,290 (13.7%) | 1.86 | 1,985 |
| 2022-09-01 | $777,500 (11.1%) | $1,819,519 (13.9%) | 1.82 | 1,971 |
| 2022-10-01 | $799,000 (14.3%) | $1,873,913 (14.9%) | 1.88 | 1,930 |
Bridgeport's median listing price comes in at 188% of the national average.
Bridgeport's average listing price for 2022-10-01 was $1,873,913, a difference of $243,086 (14.9%) versus the prior year and $54,394 versus the prior month.
For the 2022-10-01 period, Bridgeport had 1,930 MLS listings, a difference of -41 listings (-2%) versus the prior month and -376 listings (-16%) 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 | 116 days | 2,632 sqft |
| 2018-02-01 | 107 days | 2,718 sqft |
| 2018-03-01 | 64 days | 2,793 sqft |
| 2018-04-01 | 60 days | 2,796 sqft |
| 2018-05-01 | 61 days | 2,792 sqft |
| 2018-06-01 | 66 days | 2,736 sqft |
| 2018-07-01 | 77 days | 2,717 sqft |
| 2018-08-01 | 90 days | 2,680 sqft |
| 2018-09-01 | 99 days | 2,670 sqft |
| 2018-10-01 | 100 days | 2,699 sqft |
| 2018-11-01 | 101 days | 2,667 sqft |
| 2018-12-01 | 105 days | 2,666 sqft |
| 2019-01-01 | 115 days | 2,650 sqft |
| 2019-02-01 | 108 days | 2,716 sqft |
| 2019-03-01 | 86 days | 2,746 sqft |
| 2019-04-01 | 60 days | 2,794 sqft |
| 2019-05-01 | 60 days | 2,893 sqft |
| 2019-06-01 | 67 days | 2,995 sqft |
| 2019-07-01 | 77 days | 2,937 sqft |
| 2019-08-01 | 86 days | 2,912 sqft |
| 2019-09-01 | 91 days | 2,902 sqft |
| 2019-10-01 | 96 days | 2,898 sqft |
| 2019-11-01 | 99 days | 2,886 sqft |
| 2019-12-01 | 105 days | 2,837 sqft |
| 2020-01-01 | 115 days | 2,810 sqft |
| 2020-02-01 | 106 days | 2,849 sqft |
| 2020-03-01 | 63 days | 2,915 sqft |
| 2020-04-01 | 74 days | 2,885 sqft |
| 2020-05-01 | 82 days | 2,948 sqft |
| 2020-06-01 | 63 days | 3,057 sqft |
| 2020-07-01 | 49 days | 3,020 sqft |
| 2020-08-01 | 53 days | 2,938 sqft |
| 2020-09-01 | 57 days | 2,888 sqft |
| 2020-10-01 | 53 days | 2,829 sqft |
| 2020-11-01 | 62 days | 2,718 sqft |
| 2020-12-01 | 73 days | 2,636 sqft |
| 2021-01-01 | 85 days | 2,619 sqft |
| 2021-02-01 | 74 days | 2,712 sqft |
| 2021-03-01 | 47 days | 2,654 sqft |
| 2021-04-01 | 35 days | 2,662 sqft |
| 2021-05-01 | 35 days | 2,714 sqft |
| 2021-06-01 | 36 days | 2,599 sqft |
| 2021-07-01 | 40 days | 2,442 sqft |
| 2021-08-01 | 49 days | 2,186 sqft |
| 2021-09-01 | 57 days | 2,170 sqft |
| 2021-10-01 | 57 days | 2,158 sqft |
| 2021-11-01 | 59 days | 2,123 sqft |
| 2021-12-01 | 74 days | 2,074 sqft |
| 2022-01-01 | 85 days | 2,114 sqft |
| 2022-02-01 | 58 days | 2,309 sqft |
| 2022-03-01 | 35 days | 2,295 sqft |
| 2022-04-01 | 24 days | 2,258 sqft |
| 2022-05-01 | 23 days | 2,250 sqft |
| 2022-06-01 | 30 days | 2,312 sqft |
| 2022-07-01 | 35 days | 2,275 sqft |
| 2022-08-01 | 47 days | 2,427 sqft |
| 2022-09-01 | 56 days | 2,395 sqft |
| 2022-10-01 | 58 days | 2,437 sqft |
Bridgeport's median square footage for active listings during the 2022-10-01 period was 2,437 sqft. One year prior, the average listing was 2,158 sqft.
