Concord FHA Loan Rates, Closing Costs & Stats

Concord, NH

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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.

    Concord's 55 lenders originated 277 FHA loans during 2024. The total origination value was $94,255,000, with an average FHA loan value of $340,271.

    Concord FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Concord averaged 0.21% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Concord's average FHA mortgage closing costs are $8,597.

    The average rate for the prior week (2025-06-13) was 6.79% and one month ago for the week of 2025-05-16, the average rate was 6.95%.

    The average rate one year ago was 6.9%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.03%.

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

    Concord 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 Concord level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    CMG MORTGAGE, INC. 35 6.61% $11,499
    QUICKEN LOANS, LLC 27 6.17% $14,883
    UNITED WHOLESALE MORTGAGE, LLC 27 6.25% $14,113
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 6.74% $11,213
    CROSSCOUNTRY MORTGAGE, LLC 14 6.57% $11,962
    GUILD MORTGAGE COMPANY 12 6.73% $11,784
    EMM LOANS LLC 10 6.57% $13,577
    MUTUAL OF OMAHA MORTGAGE, INC. 9 6.43% $20,089
    LOANDEPOT.COM, LLC 9 5.91% $17,903
    FREEDOM MORTGAGE CORPORATION 7 6.43% $18,647
    Mr. Cooper ( Nationstar Mortgage ) 5 6.45% $16,964
    MORTGAGE EQUITY PARTNERS LLC 4 6.81% $11,517
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.47% $12,616
    Equity Prime Mortgage LLC 3 6.25% $17,126
    Waterstone Mortgage Corporation 3 6.88% $13,060
    HARBORONE MORTGAGE, LLC 3 6.88% $10,261
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.58% $7,837
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 7.00% $12,421
    BROKER SOLUTIONS, INC. 3 6.42% $9,468
    VILLAGE CAPITAL MORTGAGE 3 6.50% $9,056
    EVERETT FINANCIAL, INC. 3 6.63% $13,334
    LAKEVIEW LOAN SERVICING, LLC 2 6.69% $7,706
    MOVEMENT MORTGAGE, LLC 2 7.13% $9,890
    NATIONS DIRECT MORTGAGE, LLC 2 6.50% $8,096
    NEW FED MORTGAGE, CORP. 2 5.63% $11,951
    ENVOY MORTGAGE, LTD 2 7.19% $12,632
    NORTHPOINT MORTGAGE, INC. 2 7.50% $12,064
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.50% $16,353
    American Mortgage & Equity Consultants, Inc. 2 7.19% $17,855
    TOTAL MORTGAGE SERVICES, LLC 2 6.94% $11,741
    Century Mortgage Company DBA Century Lending Company 2 7.44% $14,312
    ZILLOW HOME LOANS, LLC 1 6.75% $11,514
    AMERICAN FINANCING CORPORATION 1 5.50% $13,992
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $8,931
    CARDINAL FINANCIAL 1 7.25% $18,126
    Carrington Mortgage Services, LLC 1 5.50% $17,261
    Citizens Bank 1 6.88% $9,384
    EMBRACE HOME LOANS, INC. 1 6.75% $7,709
    Flagstar Bank, FSB 1 6.13% $9,866
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $11,474
    Home Loan Investment Bank, F.S.B. 1 6.25% $7,709
    HOMESIDE FINANCIAL, LLC 1 5.75% $19,685
    INTERSTATE HOME LOAN CENTER, INC. 1 7.13% $15,560
    JMAC LENDING, INC. 1 5.75% $9,387
    Keystone Funding, Inc. 1 5.25% $16,935
    M&T Bank 1 7.75% $8,234
    NEWREZ LLC 1 6.25% $6,135
    PLANET HOME LENDING, LLC 1 5.99% $8,306
    POLARIS HOME FUNDING CORP. 1 5.75% $13,807
    RELIANCE FIRST CAPITAL, LLC 1 6.00% $17,240
    Sierra Pacific Mortgage Company, Inc. 1 5.75% $25,706
    Texana Bank 1 6.25% $9,460
    The Federal Savings Bank 1 7.25% $13,141
    UNITED MORTGAGE CORP 1 6.63% $15,255
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.13% $7,027

    The top Concord FHA lender as defined by loan originations is CMG MORTGAGE, INC., with 35 FHA loans originated. Their average total fees are $11,499, which is $3,384 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Concord FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($11,213), CMG MORTGAGE, INC. ($11,499), GUILD MORTGAGE COMPANY ($11,784), CROSSCOUNTRY MORTGAGE, LLC ($11,962) and EMM LOANS LLC ($13,577).

    The lowest rate Concord FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.17%), UNITED WHOLESALE MORTGAGE, LLC (6.25%), CROSSCOUNTRY MORTGAGE, LLC (6.57%), EMM LOANS LLC (6.57%) and CMG MORTGAGE, INC. (6.61%).

    Concord FHA Loan Limits

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

    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).