Cambridge FHA Loan Rates, Closing Costs & Stats

Cambridge, MD

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    • 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.

    Cambridge's 59 lenders originated 209 FHA loans during 2024. The total origination value was $52,425,000, with an average FHA loan value of $250,837.

    Cambridge FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Cambridge averaged 6.53% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Cambridge's average FHA mortgage closing costs are $9,181.

    The average rate for the prior week (2025-03-28) was 6.73% and one month ago for the week of 2025-02-28, the average rate was 6.41%.

    The average rate one year ago was 6.53%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.26%.

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

    Cambridge 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 Cambridge level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    NVR Mortgage Finance, Inc. 20 6.57% $10,795
    QUICKEN LOANS, LLC 17 6.55% $9,531
    DHI MORTGAGE COMPANY, LTD. 15 5.51% $9,760
    NFM, INC. 8 7.27% $11,280
    FREEDOM MORTGAGE CORPORATION 8 6.52% $12,774
    TIDEWATER MORTGAGE SERVICES, INC. 8 6.80% $13,338
    UNITED WHOLESALE MORTGAGE, LLC 7 6.18% $11,621
    FIRST HOME MORTGAGE CORPORATION 7 6.27% $14,165
    BAY CAPITAL MORTGAGE CORPORATION 6 5.85% $11,286
    MOVEMENT MORTGAGE, LLC 5 6.60% $9,902
    PENNYMAC LOAN SERVICES, LLC 4 5.81% $9,846
    CMG MORTGAGE, INC. 4 6.31% $11,265
    ENVOY MORTGAGE, LTD 4 6.59% $15,841
    GUARANTEED RATE, INC. 3 6.27% $11,160
    EMBRACE HOME LOANS, INC. 3 6.46% $13,162
    OCMBC, INC. 3 6.88% $14,571
    LOANDEPOT.COM, LLC 3 5.08% $8,871
    Mr. Cooper ( Nationstar Mortgage ) 3 6.54% $7,543
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 7.21% $9,707
    CROSSCOUNTRY MORTGAGE, LLC 3 6.71% $12,359
    1ST FINANCIAL, INC. 3 6.75% $9,110
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.56% $15,451
    Ameris Bank 2 6.38% $9,004
    AmRes Corporation 2 6.31% $15,878
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.63% $6,545
    Carrington Mortgage Services, LLC 2 6.88% $6,748
    DIRECT MORTGAGE LOANS, LLC 2 6.69% $12,637
    Meridian Bank Corporation 2 6.19% $9,996
    Prosperity Home Mortgage, LLC 2 6.88% $8,814
    RELIANCE FIRST CAPITAL, LLC 2 7.19% $9,216
    Shore United Bank 2 6.50% $8,362
    Truist 2 6.25% $12,191
    Waterstone Mortgage Corporation 2 6.63% $11,235
    ZILLOW HOME LOANS, LLC 2 6.75% $8,887
    Flagstar Bank, FSB 1 5.88% $13,099
    First Heritage Mortgage, LLC 1 5.63% $12,702
    M&T Bank 1 5.63% $6,906
    MY MORTGAGE, INC. 1 6.75% $9,168
    Nations Lending Corporation 1 6.75% $18,702
    NEWREZ LLC 1 6.63% $6,874
    FIDELITY DIRECT MORTGAGE, LLC 1 7.25% $9,275
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $8,854
    Evolve Bank & Trust 1 6.75% $13,773
    City Lending Inc. 1 6.75% $14,322
    CARDINAL FINANCIAL 1 5.63% $10,273
    Capital Bank 1 7.13% $9,672
    TOP FLITE FINANCIAL, INC. 1 6.63% $10,808
    Bank of America 1 5.25% $12,633
    Towne Bank 1 6.63% $11,017
    AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $13,607
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.13% $15,008
    The Loan Store, Inc. 1 5.50% $20,869
    GUARANTEED RATE AFFINITY, LLC 1 6.50% $8,747
    GEO-CORP, INC. 1 8.00% $15,431
    GUILD MORTGAGE COMPANY 1 7.25% $10,248
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.13% $9,895
    GENEVA FINANCIAL, LLC 1 7.25% $8,116
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $10,169
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.25% $9,715

    The top Cambridge FHA lender as defined by loan originations is NVR Mortgage Finance, Inc., with 20 FHA loans originated. Their average total fees are $10,795, which is $1,264 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Cambridge FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($9,531), DHI MORTGAGE COMPANY, LTD. ($9,760), NVR Mortgage Finance, Inc. ($10,795), .

    The lowest rate Cambridge FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.51%), QUICKEN LOANS, LLC (6.55%), NVR Mortgage Finance, Inc. (6.57%), .

    Cambridge FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CAMBRIDGE, MD DORCHESTER 2022 $420,680 $538,650 $651,050 $809,150
    CAMBRIDGE, MD DORCHESTER 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Cambridge (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 $198,725 (14.9%) $317,188 (25.8%) 0.00 220
    2018-02-01 $197,425 (12.8%) $317,628 (23.1%) 0.00 227
    2018-03-01 $199,900 (7.4%) $322,018 (24.9%) 0.00 224
    2018-04-01 $205,000 (6.9%) $298,122 (2.0%) 0.00 233
    2018-05-01 $213,125 (10.6%) $300,307 (3.5%) 0.00 255
    2018-06-01 $219,900 (11.9%) $305,691 (4.6%) 0.00 263
    2018-07-01 $223,200 (11.6%) $307,313 (5.5%) 0.00 261
    2018-08-01 $222,375 (11.2%) $305,011 (6.0%) 0.00 265
    2018-09-01 $229,000 (4.6%) $279,072 (-14.5%) 0.00 255
    2018-10-01 $239,450 (8.3%) $300,188 (-7.2%) 0.00 246
    2018-11-01 $239,063 (19.5%) $325,500 (4.8%) 0.00 233
    2018-12-01 $225,000 (12.6%) $327,229 (4.6%) 0.00 221
    2019-01-01 $199,925 (0.6%) $310,954 (-2.0%) 0.00 202
    2019-02-01 $207,175 (4.9%) $313,085 (-1.4%) 0.00 212
    2019-03-01 $202,086 (1.1%) $306,970 (-4.7%) 0.00 223
    2019-04-01 $207,450 (1.2%) $300,148 (0.7%) 0.00 242
    2019-05-01 $213,725 (0.3%) $298,752 (-0.5%) 0.00 251
    2019-06-01 $229,000 (4.1%) $304,824 (-0.3%) 0.00 248
    2019-07-01 $229,000 (2.6%) $307,841 (0.2%) 0.00 249
    2019-08-01 $236,927 (6.5%) $308,385 (1.1%) 0.00 236
    2019-09-01 $232,468 (1.5%) $308,188 (10.4%) 0.00 228
    2019-10-01 $226,975 (-5.2%) $308,056 (2.6%) 0.00 224
    2019-11-01 $235,500 (-1.5%) $330,580 (1.6%) 0.00 219
    2019-12-01 $223,000 (-0.9%) $325,083 (-0.7%) 0.00 205
    2020-01-01 $216,000 (8.0%) $321,987 (3.6%) 0.00 193
    2020-02-01 $220,000 (6.2%) $321,593 (2.7%) 0.00 186
    2020-03-01 $231,175 (14.4%) $323,436 (5.4%) 0.00 201
    2020-04-01 $224,900 (8.4%) $308,739 (2.9%) 0.00 193
    2020-05-01 $224,900 (5.2%) $308,558 (3.3%) 0.00 185
    2020-06-01 $229,900 (0.4%) $323,327 (6.1%) 0.00 168
    2020-07-01 $239,000 (4.4%) $331,669 (7.7%) 0.00 144
    2020-08-01 $232,250 (-2.0%) $303,353 (-1.6%) 0.00 141
    2020-09-01 $207,175 (-10.9%) $294,984 (-4.3%) 0.00 137
    2020-10-01 $241,000 (6.2%) $408,997 (32.8%) 0.00 136
    2020-11-01 $236,495 (0.4%) $429,458 (29.9%) 0.00 132
    2020-12-01 $225,000 (0.9%) $456,950 (40.6%) 0.00 106
    2021-01-01 $237,990 (10.2%) $477,988 (48.5%) 0.00 91
    2021-02-01 $249,000 (13.2%) $511,079 (58.9%) 0.00 86
    2021-03-01 $247,400 (7.0%) $555,486 (71.8%) 0.00 75
    2021-04-01 $269,245 (19.7%) $572,563 (85.5%) 0.00 69
    2021-05-01 $302,495 (34.5%) $584,024 (89.3%) 0.00 82
    2021-06-01 $301,175 (31.0%) $591,931 (83.1%) 0.00 91
    2021-07-01 $289,900 (21.3%) $527,060 (58.9%) 0.00 113
    2021-08-01 $287,749 (23.9%) $461,459 (52.1%) 0.00 111
    2021-09-01 $299,800 (44.7%) $476,342 (61.5%) 0.00 111
    2021-10-01 $299,900 (24.4%) $358,503 (-12.4%) 0.00 110
    2021-11-01 $286,945 (21.3%) $373,144 (-13.1%) 0.00 115
    2021-12-01 $292,875 (30.2%) $360,323 (-21.2%) 0.00 110
    2022-01-01 $299,000 (25.6%) $359,368 (-24.8%) 0.00 90
    2022-02-01 $293,995 (18.1%) $336,017 (-34.3%) 0.00 80
    2022-03-01 $286,225 (15.7%) $331,858 (-40.3%) 0.00 100
    2022-04-01 $275,000 (2.1%) $323,218 (-43.6%) 0.00 117
    2022-05-01 $292,000 (-3.5%) $332,929 (-43.0%) 0.00 128
    2022-06-01 $283,998 (-5.7%) $327,337 (-44.7%) 0.00 136
    2022-07-01 $285,000 (-1.7%) $334,334 (-36.6%) 0.00 140
    2022-08-01 $274,723 (-4.5%) $339,991 (-26.3%) 0.00 147
    2022-09-01 $278,745 (-7.0%) $346,733 (-27.2%) 0.00 134
    2022-10-01 $283,990 (-5.3%) $410,293 (14.5%) 0.00 126
    2022-11-01 $280,000 (-2.4%) $365,246 (-2.1%) 0.00 126
    2022-12-01 $268,495 (-8.3%) $339,043 (-5.9%) 0.00 127
    2023-01-01 $269,473 (-9.9%) $362,851 (1.0%) 0.00 119
    2023-02-01 $269,743 (-8.3%) $355,320 (5.7%) 0.00 121
    2023-03-01 $290,475 (1.5%) $351,971 (6.1%) 0.00 115
    2023-04-01 $279,000 (1.5%) $382,358 (18.3%) 0.00 100
    2023-05-01 $297,748 (2.0%) $392,430 (17.9%) 0.00 106
    2023-06-01 $277,995 (-2.1%) $385,615 (17.8%) 0.00 112
    2023-07-01 $275,000 (-3.5%) $357,817 (7.0%) 0.00 120
    2023-08-01 $277,500 (1.0%) $388,181 (14.2%) 0.00 117
    2023-09-01 $259,990 (-6.7%) $335,263 (-3.3%) 0.00 127
    2023-10-01 $273,495 (-3.7%) $353,015 (-14.0%) 0.00 132
    2023-11-01 $277,500 (-0.9%) $348,740 (-4.5%) 0.00 138
    2023-12-01 $280,000 (4.3%) $341,607 (0.8%) 0.00 136
    2024-01-01 $282,250 (4.7%) $344,883 (-5.0%) 0.00 124
    2024-02-01 $291,473 (8.1%) $349,938 (-1.5%) 0.00 119
    2024-03-01 $284,950 (-1.9%) $356,043 (1.2%) 0.00 124
    2024-04-01 $298,295 (6.9%) $383,864 (0.4%) 0.00 119
    2024-05-01 $299,495 (0.6%) $396,641 (1.1%) 0.00 133
    2024-06-01 $299,990 (7.9%) $412,339 (6.9%) 0.00 144
    2024-07-01 $306,000 (11.3%) $386,714 (8.1%) 0.00 144
    2024-08-01 $309,000 (11.4%) $367,450 (-5.3%) 0.00 136
    2024-09-01 $309,495 (19.0%) $362,375 (8.1%) 0.00 150
    2024-10-01 $304,473 (11.3%) $365,586 (3.6%) 0.00 158
    2024-11-01 $298,250 (7.5%) $347,683 (-0.3%) 0.00 159
    2024-12-01 $299,800 (7.1%) $345,310 (1.1%) 0.00 148
    2025-01-01 $289,000 (2.4%) $329,881 (-4.4%) 0.00 141
    2025-02-01 $297,319 (2.0%) $333,096 (-4.8%) 0.00 143
    2025-03-01 $297,000 (4.2%) $342,487 (-3.8%) 0.00 143
    Cambridge's median listing price for 2025-03-01 was $297,000, a difference of $12,050 (4.2%) versus the prior year and $-319 versus the prior month.

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

    Cambridge's average listing price for 2025-03-01 was $342,487, a difference of $-13,556 (-3.8%) versus the prior year and $9,391 versus the prior month.

    For the 2025-03-01 period, Cambridge had 143 MLS listings, a difference of 0 listings (0%) versus the prior month and 19 listings (15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Cambridge (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,711 sqft
    2018-02-01 0 days 1,692 sqft
    2018-03-01 0 days 1,705 sqft
    2018-04-01 0 days 1,734 sqft
    2018-05-01 0 days 1,711 sqft
    2018-06-01 0 days 1,696 sqft
    2018-07-01 0 days 1,698 sqft
    2018-08-01 0 days 1,679 sqft
    2018-09-01 0 days 1,680 sqft
    2018-10-01 0 days 1,767 sqft
    2018-11-01 0 days 1,757 sqft
    2018-12-01 0 days 1,792 sqft
    2019-01-01 0 days 1,736 sqft
    2019-02-01 0 days 1,744 sqft
    2019-03-01 0 days 1,725 sqft
    2019-04-01 0 days 1,715 sqft
    2019-05-01 0 days 1,680 sqft
    2019-06-01 0 days 1,713 sqft
    2019-07-01 0 days 1,709 sqft
    2019-08-01 0 days 1,728 sqft
    2019-09-01 0 days 1,733 sqft
    2019-10-01 0 days 1,732 sqft
    2019-11-01 0 days 1,762 sqft
    2019-12-01 0 days 1,718 sqft
    2020-01-01 0 days 1,708 sqft
    2020-02-01 0 days 1,720 sqft
    2020-03-01 0 days 1,782 sqft
    2020-04-01 0 days 1,739 sqft
    2020-05-01 0 days 1,739 sqft
    2020-06-01 0 days 1,734 sqft
    2020-07-01 0 days 1,751 sqft
    2020-08-01 0 days 1,720 sqft
    2020-09-01 0 days 1,669 sqft
    2020-10-01 0 days 1,743 sqft
    2020-11-01 0 days 1,700 sqft
    2020-12-01 0 days 1,658 sqft
    2021-01-01 0 days 1,720 sqft
    2021-02-01 0 days 1,740 sqft
    2021-03-01 0 days 1,721 sqft
    2021-04-01 0 days 1,638 sqft
    2021-05-01 0 days 1,812 sqft
    2021-06-01 0 days 1,724 sqft
    2021-07-01 0 days 1,724 sqft
    2021-08-01 0 days 1,679 sqft
    2021-09-01 0 days 1,638 sqft
    2021-10-01 0 days 1,639 sqft
    2021-11-01 0 days 1,609 sqft
    2021-12-01 0 days 1,643 sqft
    2022-01-01 0 days 1,654 sqft
    2022-02-01 0 days 1,564 sqft
    2022-03-01 0 days 1,556 sqft
    2022-04-01 0 days 1,596 sqft
    2022-05-01 0 days 1,579 sqft
    2022-06-01 0 days 1,586 sqft
    2022-07-01 0 days 1,664 sqft
    2022-08-01 0 days 1,605 sqft
    2022-09-01 0 days 1,586 sqft
    2022-10-01 0 days 1,596 sqft
    2022-11-01 0 days 1,674 sqft
    2022-12-01 0 days 1,676 sqft
    2023-01-01 0 days 1,713 sqft
    2023-02-01 0 days 1,567 sqft
    2023-03-01 0 days 1,592 sqft
    2023-04-01 0 days 1,560 sqft
    2023-05-01 0 days 1,619 sqft
    2023-06-01 0 days 1,682 sqft
    2023-07-01 0 days 1,578 sqft
    2023-08-01 0 days 1,565 sqft
    2023-09-01 0 days 1,530 sqft
    2023-10-01 0 days 1,576 sqft
    2023-11-01 0 days 1,574 sqft
    2023-12-01 0 days 1,568 sqft
    2024-01-01 0 days 1,539 sqft
    2024-02-01 0 days 1,537 sqft
    2024-03-01 0 days 1,508 sqft
    2024-04-01 0 days 1,562 sqft
    2024-05-01 0 days 1,584 sqft
    2024-06-01 0 days 1,648 sqft
    2024-07-01 0 days 1,696 sqft
    2024-08-01 0 days 1,684 sqft
    2024-09-01 0 days 1,667 sqft
    2024-10-01 0 days 1,658 sqft
    2024-11-01 0 days 1,662 sqft
    2024-12-01 0 days 1,611 sqft
    2025-01-01 0 days 1,568 sqft
    2025-02-01 0 days 1,571 sqft
    2025-03-01 0 days 1,557 sqft
    Cambridge's median listing age (time on market) for 2025-03-01 was 0 days.

    Cambridge's median square footage for active listings during the 2025-03-01 period was 1,557 sqft. One year prior, the average listing was 1,508 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).