Concord FHA Loan Rates, Closing Costs & Stats

Concord, NH

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 63 lenders originated 354 FHA loans during 2022. The total origination value was $98,870,000, with an average FHA loan value of $279,294.

    Concord FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Concord averaged 6.54% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

    Concord's average FHA mortgage closing costs are $7,653.

    The average rate for the prior week (2023-05-19) was 6.31% and one month ago for the week of 2023-04-21, the average rate was 6.35%.

    The average rate one year ago was 4.87%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.09%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 40 5.24% $9,639
    UNITED WHOLESALE MORTGAGE, LLC 32 4.54% $10,113
    QUICKEN LOANS, LLC 28 4.80% $12,251
    CMG MORTGAGE, INC. 24 4.90% $9,956
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 18 5.60% $9,330
    HARBORONE MORTGAGE, LLC 15 5.53% $9,774
    EMM LOANS LLC 10 5.09% $12,781
    CROSSCOUNTRY MORTGAGE, LLC 10 5.39% $12,835
    PENNYMAC LOAN SERVICES, LLC 8 4.81% $13,674
    Mortgage Network, Inc. 7 5.30% $9,808
    LOANDEPOT.COM, LLC 7 4.62% $12,071
    ENVOY MORTGAGE, LTD 6 6.10% $11,452
    LAKEVIEW LOAN SERVICING, LLC 6 3.94% $6,258
    EVERETT FINANCIAL, INC. 5 5.93% $6,722
    FREEDOM MORTGAGE CORPORATION 4 5.09% $13,555
    GUARANTEED RATE, INC. 4 4.88% $9,465
    RELIANCE FIRST CAPITAL, LLC 4 3.50% $13,117
    Waterstone Mortgage Corporation 4 5.06% $9,425
    NEWREZ LLC 3 3.00% $7,286
    AMERISAVE MORTGAGE CORPORATION 3 5.13% $12,427
    HOME POINT FINANCIAL CORPORATION 3 4.08% $12,885
    MOVEMENT MORTGAGE, LLC 3 5.13% $11,916
    NORTHPOINT MORTGAGE, INC. 3 5.42% $13,486
    GUARANTEED RATE AFFINITY, LLC 2 4.88% $11,864
    BROKER SOLUTIONS, INC. 2 5.25% $12,542
    CARDINAL FINANCIAL 2 6.44% $10,541
    Equity Prime Mortgage LLC 2 4.75% $9,671
    First Guaranty Mortgage Corporation 2 3.00% $8,491
    FIRST MORTGAGE COMPANY, INC. 2 4.94% $11,625
    Flagstar Bank, FSB 2 5.63% $9,187
    American Mortgage & Equity Consultants, Inc. 2 4.00% $12,543
    Mortgage Research Center, LLC 2 5.19% $6,602
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.50% $18,648
    NATIONWIDE MORTGAGE BANKERS, INC. 2 5.00% $15,913
    RADIUS FINANCIAL GROUP INC. 2 6.63% $8,729
    Sierra Pacific Mortgage Company, Inc. 2 4.94% $18,475
    The Federal Savings Bank 2 4.94% $13,173
    UNITED MORTGAGE CORP. 2 3.56% $14,529
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.75% $13,371
    DRAPER AND KRAMER MORTGAGE CORP. 1 2.99% $10,096
    Mr. Cooper ( Nationstar Mortgage ) 1 5.13% $11,166
    SUCCESS MORTGAGE PARTNERS, INC. 1 4.88% $7,436
    MYCUMORTGAGE, LLC 1 4.00% $6,863
    Nations Lending Corporation 1 5.63% $11,219
    ARC HOME LLC 1 3.25% $7,192
    NEW DAY FINANCIAL, LLC 1 5.99% $6,054
    Carrington Mortgage Services, LLC 1 5.75% $13,727
    NFM, INC. 1 5.00% $16,086
    CALIBER HOME LOANS, INC. 1 4.75% $10,497
    Berkshire Bank 1 5.13% $8,707
    POLARIS HOME FUNDING CORP. 1 7.00% $8,838
    Prime Choice Funding Inc. 1 2.25% $11,298
    BAY EQUITY LLC 1 6.25% $9,885
    TOTAL MORTGAGE SERVICES, LLC 1 5.63% $5,949
    Bank of America 1 5.00% $10,435
    Republic State Mortgage Co. 1 4.63% $13,113
    JPMorgan Chase Bank 1 5.38% $8,741
    HOMESIDE FINANCIAL, LLC 1 5.25% $9,511
    LEADERONE FINANCIAL CORPORATION 1 5.25% $18,766
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 4.63% $10,849
    Magnolia Bank 1 3.75% $9,221
    MORTGAGE EQUITY PARTNERS LLC 1 6.13% $10,925
    Evolve Bank & Trust 1 5.75% $13,083

    The top Concord FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 40 FHA loans originated. Their average total fees are $9,639, which is $474 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Concord FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,330), GUILD MORTGAGE COMPANY ($9,639), HARBORONE MORTGAGE, LLC ($9,774), CMG MORTGAGE, INC. ($9,956) and UNITED WHOLESALE MORTGAGE, LLC ($10,113).

    The lowest rate Concord FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (4.54%), QUICKEN LOANS, LLC (4.80%), CMG MORTGAGE, INC. (4.90%), EMM LOANS LLC (5.09%) and GUILD MORTGAGE COMPANY (5.24%).

    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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Concord (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 $306,400 (13.8%) $375,332 (17.0%) 1.14 410
    2018-02-01 $322,225 (17.0%) $383,758 (16.6%) 1.17 360
    2018-03-01 $329,999 (17.9%) $374,482 (10.6%) 1.16 352
    2018-04-01 $329,725 (17.8%) $376,714 (7.7%) 1.12 419
    2018-05-01 $322,225 (8.9%) $375,677 (3.9%) 1.08 502
    2018-06-01 $319,900 (6.7%) $380,713 (3.4%) 1.07 583
    2018-07-01 $314,900 (5.1%) $381,305 (3.7%) 1.05 607
    2018-08-01 $309,700 (3.3%) $385,074 (5.4%) 1.04 637
    2018-09-01 $304,995 (5.2%) $385,702 (7.0%) 1.03 669
    2018-10-01 $309,450 (5.1%) $388,495 (7.6%) 1.05 644
    2018-11-01 $299,950 (4.4%) $386,394 (8.8%) 1.02 564
    2018-12-01 $299,900 (2.6%) $382,870 (6.0%) 1.03 465
    2019-01-01 $299,950 (-2.1%) $390,593 (4.1%) 1.04 392
    2019-02-01 $307,950 (-4.4%) $398,088 (3.7%) 1.04 368
    2019-03-01 $324,900 (-1.6%) $402,093 (7.4%) 1.08 355
    2019-04-01 $335,038 (1.6%) $402,998 (7.0%) 1.06 396
    2019-05-01 $322,425 (0.1%) $384,558 (2.4%) 1.01 465
    2019-06-01 $324,900 (1.6%) $412,306 (8.3%) 1.02 495
    2019-07-01 $319,450 (1.4%) $412,631 (8.2%) 1.00 499
    2019-08-01 $329,500 (6.4%) $425,385 (10.5%) 1.03 492
    2019-09-01 $333,000 (9.2%) $414,692 (7.5%) 1.05 455
    2019-10-01 $312,450 (1.0%) $397,701 (2.4%) 1.01 461
    2019-11-01 $306,000 (2.0%) $391,813 (1.4%) 1.00 398
    2019-12-01 $299,700 (-0.1%) $384,318 (0.4%) 1.00 326
    2020-01-01 $300,000 (0.0%) $391,679 (0.3%) 1.00 261
    2020-02-01 $329,000 (6.8%) $413,076 (3.8%) 1.08 250
    2020-03-01 $349,000 (7.4%) $416,792 (3.7%) 1.09 267
    2020-04-01 $357,400 (6.7%) $417,121 (3.5%) 1.12 275
    2020-05-01 $362,400 (12.4%) $427,036 (11.1%) 1.10 261
    2020-06-01 $377,450 (16.2%) $464,939 (12.8%) 1.11 270
    2020-07-01 $374,450 (17.2%) $470,342 (14.0%) 1.09 232
    2020-08-01 $374,950 (13.8%) $451,757 (6.2%) 1.07 235
    2020-09-01 $367,425 (10.3%) $435,320 (5.0%) 1.05 242
    2020-10-01 $339,450 (8.6%) $423,861 (6.6%) 0.97 228
    2020-11-01 $348,700 (14.0%) $446,388 (13.9%) 1.02 182
    2020-12-01 $334,475 (11.6%) $444,035 (15.5%) 0.99 144
    2021-01-01 $339,450 (13.2%) $435,972 (11.3%) 1.01 104
    2021-02-01 $356,000 (8.2%) $475,290 (15.1%) 1.04 87
    2021-03-01 $346,975 (-0.6%) $458,819 (10.1%) 0.98 100
    2021-04-01 $380,450 (6.5%) $475,947 (14.1%) 1.03 111
    2021-05-01 $375,000 (3.5%) $498,344 (16.7%) 1.00 161
    2021-06-01 $377,000 (-0.1%) $496,579 (6.8%) 0.99 207
    2021-07-01 $417,500 (11.5%) $548,428 (16.6%) 1.10 209
    2021-08-01 $390,925 (4.3%) $543,591 (20.3%) 1.04 197
    2021-09-01 $399,675 (8.8%) $518,592 (19.1%) 1.07 192
    2021-10-01 $389,900 (14.9%) $522,466 (23.3%) 1.04 172
    2021-11-01 $399,725 (14.6%) $533,915 (19.6%) 1.07 136
    2021-12-01 $450,500 (34.7%) $540,135 (21.6%) 1.22 99
    2022-01-01 $419,900 (23.7%) $529,512 (21.5%) 1.14 82
    2022-02-01 $472,400 (32.7%) $591,226 (24.4%) 1.23 68
    2022-03-01 $437,225 (26.0%) $530,412 (15.6%) 1.09 91
    2022-04-01 $429,999 (13.0%) $609,087 (28.0%) 1.03 108
    2022-05-01 $449,950 (20.0%) $568,970 (14.2%) 1.03 128
    2022-06-01 $461,000 (22.3%) $588,336 (18.5%) 1.03 177
    2022-07-01 $497,000 (19.0%) $624,410 (13.9%) 1.12 214
    2022-08-01 $484,975 (24.1%) $607,692 (11.8%) 1.12 216
    2022-09-01 $484,725 (21.3%) $597,259 (15.2%) 1.13 204
    2022-10-01 $494,450 (26.8%) $571,209 (9.3%) 1.16 200
    2022-11-01 $491,175 (22.9%) $555,803 (4.1%) 1.18 200
    2022-12-01 $499,900 (11.0%) $557,403 (3.2%) 1.23 163
    2023-01-01 $499,500 (19.0%) $549,914 (3.9%) 1.24 121
    2023-02-01 $522,475 (10.6%) $561,487 (-5.0%) 1.26 87
    2023-03-01 $509,950 (16.6%) $553,866 (4.4%) 1.20 83
    2023-04-01 $522,450 (21.5%) $590,923 (-3.0%) 1.22 97
    Concord's median listing price for 2023-04-01 was $522,450, a difference of $92,451 (21.5%) versus the prior year and $12,500 versus the prior month.

    Concord's median listing price comes in at 122% of the national average.

    Concord's average listing price for 2023-04-01 was $590,923, a difference of $-18,164 (-3.0%) versus the prior year and $37,057 versus the prior month.

    For the 2023-04-01 period, Concord had 97 MLS listings, a difference of 14 listings (17%) versus the prior month and -11 listings (-10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Concord (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 103 days 2,192 sqft
    2018-02-01 109 days 2,173 sqft
    2018-03-01 80 days 2,217 sqft
    2018-04-01 53 days 2,209 sqft
    2018-05-01 45 days 2,170 sqft
    2018-06-01 41 days 2,168 sqft
    2018-07-01 52 days 2,187 sqft
    2018-08-01 57 days 2,185 sqft
    2018-09-01 63 days 2,179 sqft
    2018-10-01 70 days 2,214 sqft
    2018-11-01 81 days 2,197 sqft
    2018-12-01 96 days 2,122 sqft
    2019-01-01 95 days 2,152 sqft
    2019-02-01 101 days 2,089 sqft
    2019-03-01 70 days 2,090 sqft
    2019-04-01 47 days 2,122 sqft
    2019-05-01 44 days 2,106 sqft
    2019-06-01 45 days 2,128 sqft
    2019-07-01 51 days 2,082 sqft
    2019-08-01 64 days 2,132 sqft
    2019-09-01 71 days 2,163 sqft
    2019-10-01 65 days 2,096 sqft
    2019-11-01 72 days 2,068 sqft
    2019-12-01 86 days 1,978 sqft
    2020-01-01 91 days 2,026 sqft
    2020-02-01 75 days 2,065 sqft
    2020-03-01 49 days 2,076 sqft
    2020-04-01 53 days 2,139 sqft
    2020-05-01 57 days 2,125 sqft
    2020-06-01 35 days 2,172 sqft
    2020-07-01 42 days 2,199 sqft
    2020-08-01 46 days 2,222 sqft
    2020-09-01 35 days 2,080 sqft
    2020-10-01 42 days 2,001 sqft
    2020-11-01 48 days 2,033 sqft
    2020-12-01 58 days 1,901 sqft
    2021-01-01 52 days 1,846 sqft
    2021-02-01 31 days 1,800 sqft
    2021-03-01 18 days 1,727 sqft
    2021-04-01 14 days 1,826 sqft
    2021-05-01 14 days 2,072 sqft
    2021-06-01 17 days 2,068 sqft
    2021-07-01 25 days 2,191 sqft
    2021-08-01 35 days 2,130 sqft
    2021-09-01 34 days 2,096 sqft
    2021-10-01 37 days 1,998 sqft
    2021-11-01 42 days 1,947 sqft
    2021-12-01 50 days 1,979 sqft
    2022-01-01 50 days 1,883 sqft
    2022-02-01 28 days 1,952 sqft
    2022-03-01 15 days 1,854 sqft
    2022-04-01 12 days 1,872 sqft
    2022-05-01 16 days 1,922 sqft
    2022-06-01 13 days 1,947 sqft
    2022-07-01 24 days 2,118 sqft
    2022-08-01 35 days 2,104 sqft
    2022-09-01 41 days 2,139 sqft
    2022-10-01 43 days 2,099 sqft
    2022-11-01 43 days 2,058 sqft
    2022-12-01 57 days 2,052 sqft
    2023-01-01 68 days 2,073 sqft
    2023-02-01 70 days 2,022 sqft
    2023-03-01 37 days 1,889 sqft
    2023-04-01 17 days 2,043 sqft
    Concord's median listing age (time on market) for 2023-04-01 was 17 days. This is 48% longer than the same period one year ago.

    Concord's median square footage for active listings during the 2023-04-01 period was 2,043 sqft. One year prior, the average listing was 1,872 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).