Camden FHA Loans
CAMDEN, NJ
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.
Camden's 210 lenders originated 9,397 FHA loans during 2021. The total origination value was $2,121,465,000, with an average FHA loan value of $225,760.
Camden FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Camden
averaged
4.67%
for the week of 2022-03-25, compared to the national average (all FHA variants) of
4.648% for the same period.
The average rate for the prior week (2022-03-18) was
4.59% and
one month ago for the week of 2022-02-18, the
average rate was 4.12%.
The average rate one year ago was 3.45%.
For refis of the same type during the week of 2022-03-25, the average rate
was 4.4%.
Camden 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 Camden level.
The top Camden FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
619 FHA loans originated. Their average total fees are
$6,631, which is $1,107
lower than the next largest lender,
GREENTREE MORTGAGE COMPANY, L.P..
The lowest fee Camden FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($2,641), Bank of America ($3,848), Lakeview Community Capital, LLC ($4,533), Mr. Cooper ( Nationstar Mortgage ) ($4,671) and LAKEVIEW LOAN SERVICING, LLC ($4,922).
The lowest rate Camden FHA lenders (with over 10 loans originated) are
OCMBC, INC. (2.59%), ARC HOME LLC (2.69%), Bank of America (2.70%), HOME POINT FINANCIAL CORPORATION (2.71%) and QUICKEN LOANS, LLC (2.72%).
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Camden (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 | $229,995 (5.0%) | $343,281 (3.3%) | 0.85 | 20,339 |
| 2018-02-01 | $237,000 (7.8%) | $345,647 (2.3%) | 0.85 | 20,590 |
| 2018-03-01 | $240,000 (4.7%) | $355,764 (2.7%) | 0.83 | 19,886 |
| 2018-04-01 | $249,950 (6.4%) | $369,050 (3.8%) | 0.84 | 20,785 |
| 2018-05-01 | $264,500 (8.0%) | $383,010 (5.4%) | 0.88 | 21,602 |
| 2018-06-01 | $269,000 (8.1%) | $388,456 (5.5%) | 0.90 | 22,210 |
| 2018-07-01 | $269,450 (7.8%) | $387,880 (6.1%) | 0.90 | 22,358 |
| 2018-08-01 | $262,450 (5.7%) | $382,698 (6.2%) | 0.88 | 22,361 |
| 2018-09-01 | $262,000 (6.1%) | $382,055 (5.6%) | 0.88 | 22,688 |
| 2018-10-01 | $264,950 (6.0%) | $382,170 (4.5%) | 0.89 | 23,033 |
| 2018-11-01 | $263,522 (8.7%) | $379,513 (7.4%) | 0.88 | 22,287 |
| 2018-12-01 | $254,900 (7.5%) | $373,201 (7.6%) | 0.87 | 20,457 |
| 2019-01-01 | $249,900 (8.7%) | $363,923 (6.0%) | 0.86 | 18,903 |
| 2019-02-01 | $251,500 (6.1%) | $368,398 (6.6%) | 0.84 | 18,647 |
| 2019-03-01 | $265,286 (10.5%) | $383,560 (7.8%) | 0.86 | 19,042 |
| 2019-04-01 | $275,000 (10.0%) | $395,831 (7.3%) | 0.87 | 19,536 |
| 2019-05-01 | $287,950 (8.9%) | $406,697 (6.2%) | 0.89 | 20,302 |
| 2019-06-01 | $289,900 (7.8%) | $408,518 (5.2%) | 0.89 | 20,743 |
| 2019-07-01 | $287,000 (6.5%) | $406,737 (4.9%) | 0.89 | 20,591 |
| 2019-08-01 | $289,286 (10.2%) | $409,485 (7.0%) | 0.91 | 19,629 |
| 2019-09-01 | $297,000 (13.4%) | $421,214 (10.3%) | 0.94 | 18,514 |
| 2019-10-01 | $299,000 (12.9%) | $428,117 (12.0%) | 0.95 | 18,561 |
| 2019-11-01 | $295,000 (12.0%) | $423,999 (11.7%) | 0.95 | 17,530 |
| 2019-12-01 | $287,604 (12.8%) | $422,320 (13.2%) | 0.96 | 15,078 |
| 2020-01-01 | $285,000 (14.1%) | $420,342 (15.5%) | 0.95 | 13,657 |
| 2020-02-01 | $291,900 (16.1%) | $433,129 (17.6%) | 0.94 | 13,176 |
| 2020-03-01 | $299,950 (13.1%) | $447,228 (16.6%) | 0.94 | 13,245 |
| 2020-04-01 | $299,900 (9.1%) | $445,648 (12.6%) | 0.93 | 11,986 |
| 2020-05-01 | $311,131 (8.1%) | $454,994 (11.9%) | 0.94 | 12,462 |
| 2020-06-01 | $327,450 (13.0%) | $475,821 (16.5%) | 0.96 | 12,455 |
| 2020-07-01 | $339,950 (18.5%) | $496,733 (22.1%) | 0.97 | 11,429 |
| 2020-08-01 | $342,900 (18.5%) | $506,456 (23.7%) | 0.98 | 10,834 |
| 2020-09-01 | $343,032 (15.5%) | $510,361 (21.2%) | 0.98 | 10,799 |
| 2020-10-01 | $349,000 (16.7%) | $516,866 (20.7%) | 1.00 | 10,808 |
| 2020-11-01 | $339,500 (15.1%) | $512,902 (21.0%) | 0.97 | 10,399 |
| 2020-12-01 | $327,000 (13.7%) | $505,018 (19.6%) | 0.96 | 9,091 |
| 2021-01-01 | $324,000 (13.7%) | $507,994 (20.9%) | 0.95 | 7,911 |
| 2021-02-01 | $322,450 (10.5%) | $518,908 (19.8%) | 0.93 | 7,113 |
| 2021-03-01 | $325,000 (8.4%) | $529,998 (18.5%) | 0.91 | 7,227 |
| 2021-04-01 | $339,450 (13.2%) | $546,861 (22.7%) | 0.91 | 7,574 |
| 2021-05-01 | $339,900 (9.3%) | $526,530 (15.7%) | 0.89 | 8,161 |
| 2021-06-01 | $334,900 (2.3%) | $504,213 (6.0%) | 0.87 | 9,826 |
| 2021-07-01 | $325,000 (-4.4%) | $490,693 (-1.2%) | 0.84 | 10,530 |
| 2021-08-01 | $320,000 (-6.7%) | $473,091 (-6.6%) | 0.84 | 10,911 |
| 2021-09-01 | $319,950 (-6.7%) | $470,053 (-7.9%) | 0.84 | 10,970 |
| 2021-10-01 | $319,999 (-8.3%) | $472,739 (-8.5%) | 0.84 | 10,623 |
| 2021-11-01 | $312,450 (-8.0%) | $472,371 (-7.9%) | 0.82 | 9,729 |
| 2021-12-01 | $299,950 (-8.3%) | $468,154 (-7.3%) | 0.80 | 8,358 |
| 2022-01-01 | $299,900 (-7.4%) | $479,692 (-5.6%) | 0.80 | 6,917 |
Camden's median listing price comes in at 80% of the national average.
Camden's average listing price for 2022-01-01 was $479,692, a difference of $-28,302 (-5.6%) versus the prior year and $11,538 versus the prior month.
For the 2022-01-01 period, Camden had 6,917 MLS listings, a difference of -1,441 listings (-17%) versus the prior month and -994 listings (-13%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Camden (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 87 days | 1,700 sqft |
| 2018-02-01 | 80 days | 1,702 sqft |
| 2018-03-01 | 59 days | 1,714 sqft |
| 2018-04-01 | 55 days | 1,749 sqft |
| 2018-05-01 | 52 days | 1,795 sqft |
| 2018-06-01 | 53 days | 1,820 sqft |
| 2018-07-01 | 60 days | 1,824 sqft |
| 2018-08-01 | 63 days | 1,803 sqft |
| 2018-09-01 | 64 days | 1,800 sqft |
| 2018-10-01 | 64 days | 1,800 sqft |
| 2018-11-01 | 66 days | 1,800 sqft |
| 2018-12-01 | 75 days | 1,780 sqft |
| 2019-01-01 | 83 days | 1,806 sqft |
| 2019-02-01 | 79 days | 1,853 sqft |
| 2019-03-01 | 57 days | 1,853 sqft |
| 2019-04-01 | 49 days | 1,853 sqft |
| 2019-05-01 | 48 days | 1,878 sqft |
| 2019-06-01 | 52 days | 1,884 sqft |
| 2019-07-01 | 59 days | 1,860 sqft |
| 2019-08-01 | 63 days | 1,864 sqft |
| 2019-09-01 | 63 days | 1,892 sqft |
| 2019-10-01 | 61 days | 1,890 sqft |
| 2019-11-01 | 64 days | 1,853 sqft |
| 2019-12-01 | 75 days | 1,832 sqft |
| 2020-01-01 | 82 days | 1,800 sqft |
| 2020-02-01 | 69 days | 1,825 sqft |
| 2020-03-01 | 49 days | 1,849 sqft |
| 2020-04-01 | 62 days | 1,831 sqft |
| 2020-05-01 | 73 days | 1,864 sqft |
| 2020-06-01 | 59 days | 1,885 sqft |
| 2020-07-01 | 46 days | 1,879 sqft |
| 2020-08-01 | 45 days | 1,850 sqft |
| 2020-09-01 | 43 days | 1,797 sqft |
| 2020-10-01 | 48 days | 1,786 sqft |
| 2020-11-01 | 52 days | 1,745 sqft |
| 2020-12-01 | 61 days | 1,688 sqft |
| 2021-01-01 | 70 days | 1,643 sqft |
| 2021-02-01 | 65 days | 1,618 sqft |
| 2021-03-01 | 48 days | 1,628 sqft |
| 2021-04-01 | 40 days | 1,663 sqft |
| 2021-05-01 | 38 days | 1,680 sqft |
| 2021-06-01 | 37 days | 1,671 sqft |
| 2021-07-01 | 41 days | 1,655 sqft |
| 2021-08-01 | 43 days | 1,625 sqft |
| 2021-09-01 | 47 days | 1,605 sqft |
| 2021-10-01 | 49 days | 1,598 sqft |
| 2021-11-01 | 51 days | 1,558 sqft |
| 2021-12-01 | 58 days | 1,533 sqft |
| 2022-01-01 | 65 days | 1,508 sqft |
Camden's median square footage for active listings during the 2022-01-01 period was 1,508 sqft. One year prior, the average listing was 1,643 sqft.
