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 56 lenders originated 245 FHA loans during 2023. The total origination value was $77,925,000, with an average FHA loan value of $318,061.

    Concord FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Concord averaged 6.25% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Concord's average FHA mortgage closing costs are $8,132.

    The average rate for the prior week (2024-12-06) was 6.22% and one month ago for the week of 2024-11-08, the average rate was 6.28%.

    The average rate one year ago was 7%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.66%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 25 5.83% $14,035
    GUILD MORTGAGE COMPANY 16 6.66% $12,561
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 6.67% $9,993
    CMG MORTGAGE, INC. 12 6.95% $13,701
    HARBORONE MORTGAGE, LLC 11 6.66% $11,992
    UNITED WHOLESALE MORTGAGE, LLC 11 6.92% $11,775
    LOANDEPOT.COM, LLC 9 6.10% $13,672
    CROSSCOUNTRY MORTGAGE, LLC 7 6.65% $12,071
    EVERETT FINANCIAL, INC. 6 6.92% $8,580
    PENNYMAC LOAN SERVICES, LLC 5 5.92% $16,636
    MOVEMENT MORTGAGE, LLC 5 6.38% $12,547
    NEWREZ LLC 5 6.25% $14,095
    TOTAL MORTGAGE SERVICES, LLC 4 6.44% $11,961
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.38% $16,123
    RELIANCE FIRST CAPITAL, LLC 4 6.38% $15,830
    NORTHPOINT MORTGAGE, INC. 4 6.37% $13,021
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 7.22% $13,993
    FREEDOM MORTGAGE CORPORATION 3 7.08% $16,307
    American Mortgage & Equity Consultants, Inc. 3 6.88% $18,019
    FIRST MORTGAGE COMPANY, INC. 3 6.58% $11,021
    GUARANTEED RATE, INC. 3 6.50% $12,066
    AMERISAVE MORTGAGE CORPORATION 3 5.83% $20,580
    EMM LOANS LLC 3 6.54% $8,392
    Mr. Cooper ( Nationstar Mortgage ) 3 6.46% $16,024
    Equity Prime Mortgage LLC 3 7.08% $20,149
    BROKER SOLUTIONS, INC. 2 6.44% $23,309
    Bangor Savings Bank 2 5.94% $10,328
    BAY EQUITY LLC 2 6.31% $11,107
    AMERICAN FINANCING CORPORATION 2 6.75% $9,811
    Carrington Mortgage Services, LLC 2 6.88% $9,350
    Citizens Bank 2 6.31% $8,716
    GUARANTEED RATE AFFINITY, LLC 2 7.13% $19,140
    Keystone Funding, Inc. 2 6.81% $13,182
    LAKEVIEW LOAN SERVICING, LLC 2 6.69% $13,165
    LEADERONE FINANCIAL CORPORATION 2 7.25% $9,782
    NATIONS DIRECT MORTGAGE, LLC 2 7.56% $15,589
    OCMBC, INC. 2 7.19% $19,509
    Waterstone Mortgage Corporation 2 5.94% $11,486
    Ixonia Bank 1 7.00% $23,901
    Flagstar Bank, FSB 1 7.25% $8,211
    VILLAGE CAPITAL MORTGAGE 1 7.88% $11,955
    Paramount Residential Mortgage Group, Inc. 1 6.25% $14,683
    ENVOY MORTGAGE, LTD 1 7.13% $15,651
    PLANET HOME LENDING, LLC 1 5.63% $27,805
    POLARIS HOME FUNDING CORP. 1 7.50% $13,203
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $9,788
    Princeton Mortgage Corporation 1 6.25% $8,022
    DRAPER AND KRAMER MORTGAGE CORP. 1 7.63% $15,866
    RADIUS FINANCIAL GROUP INC. 1 5.50% $8,795
    Century Mortgage Company DBA Century Lending Company 1 6.75% $11,050
    TD Bank 1 5.88% $5,936
    The Washington Trust Company, of Westerly 1 6.49% $10,248
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $21,590
    MORTGAGE EQUITY PARTNERS LLC 1 7.25% $9,386
    AmeriHome Mortgage Company, LLC 1 6.13% $13,489
    NEW FED MORTGAGE, CORP. 1 7.00% $9,329

    The top Concord FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 25 FHA loans originated. Their average total fees are $14,035, which is $1,474 higher than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Concord FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,993), UNITED WHOLESALE MORTGAGE, LLC ($11,775), HARBORONE MORTGAGE, LLC ($11,992), GUILD MORTGAGE COMPANY ($12,561) and CMG MORTGAGE, INC. ($13,701).

    The lowest rate Concord FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (5.83%), HARBORONE MORTGAGE, LLC (6.66%), GUILD MORTGAGE COMPANY (6.66%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.67%) and UNITED WHOLESALE MORTGAGE, LLC (6.92%).

    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 $307,500 (14.2%) $377,428 (17.6%) 1.14 408
    2018-02-01 $322,450 (17.0%) $384,808 (16.9%) 1.17 359
    2018-03-01 $330,000 (17.9%) $375,434 (10.9%) 1.16 353
    2018-04-01 $330,675 (18.1%) $376,936 (7.8%) 1.12 420
    2018-05-01 $322,450 (8.5%) $375,877 (3.8%) 1.08 503
    2018-06-01 $319,900 (6.7%) $380,873 (3.3%) 1.07 584
    2018-07-01 $314,925 (5.0%) $381,570 (3.7%) 1.05 607
    2018-08-01 $309,950 (3.4%) $385,340 (5.4%) 1.04 637
    2018-09-01 $305,000 (5.2%) $386,292 (7.0%) 1.03 670
    2018-10-01 $309,950 (5.4%) $389,177 (7.2%) 1.05 643
    2018-11-01 $299,950 (3.8%) $387,193 (8.7%) 1.02 563
    2018-12-01 $299,900 (1.7%) $383,715 (5.7%) 1.03 465
    2019-01-01 $299,950 (-2.5%) $391,398 (3.7%) 1.04 392
    2019-02-01 $308,325 (-4.4%) $398,523 (3.6%) 1.04 366
    2019-03-01 $323,814 (-1.9%) $398,186 (6.1%) 1.06 380
    2019-04-01 $337,889 (2.2%) $401,558 (6.5%) 1.07 399
    2019-05-01 $323,400 (0.3%) $385,081 (2.5%) 1.01 464
    2019-06-01 $324,900 (1.6%) $412,820 (8.4%) 1.02 494
    2019-07-01 $319,450 (1.4%) $412,784 (8.2%) 1.00 498
    2019-08-01 $325,691 (5.1%) $412,574 (7.1%) 1.03 490
    2019-09-01 $319,677 (4.8%) $403,535 (4.5%) 1.02 486
    2019-10-01 $315,668 (1.8%) $398,706 (2.5%) 1.02 464
    2019-11-01 $308,000 (2.7%) $391,806 (1.2%) 1.01 399
    2019-12-01 $299,800 (0.0%) $384,329 (0.2%) 1.00 327
    2020-01-01 $300,000 (0.0%) $391,670 (0.1%) 1.00 261
    2020-02-01 $329,000 (6.7%) $413,076 (3.7%) 1.08 250
    2020-03-01 $349,000 (7.8%) $416,792 (4.7%) 1.09 267
    2020-04-01 $357,400 (5.8%) $417,121 (3.9%) 1.12 275
    2020-05-01 $362,400 (12.1%) $427,036 (10.9%) 1.10 261
    2020-06-01 $377,450 (16.2%) $464,939 (12.6%) 1.11 270
    2020-07-01 $374,450 (17.2%) $470,342 (13.9%) 1.09 232
    2020-08-01 $374,950 (15.1%) $451,750 (9.5%) 1.07 235
    2020-09-01 $367,175 (14.9%) $435,077 (7.8%) 1.05 241
    2020-10-01 $337,080 (6.8%) $421,244 (5.7%) 0.97 226
    2020-11-01 $348,475 (13.1%) $444,814 (13.5%) 1.02 180
    2020-12-01 $336,725 (12.3%) $445,425 (15.9%) 1.00 146
    2021-01-01 $339,900 (13.3%) $436,575 (11.5%) 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 $379,000 (0.4%) $497,307 (7.0%) 1.00 207
    2021-07-01 $417,500 (11.5%) $549,994 (16.9%) 1.10 209
    2021-08-01 $390,925 (4.3%) $543,591 (20.3%) 1.04 197
    2021-09-01 $399,675 (8.9%) $518,592 (19.2%) 1.07 192
    2021-10-01 $389,900 (15.7%) $522,466 (24.0%) 1.04 172
    2021-11-01 $399,725 (14.7%) $533,915 (20.0%) 1.07 136
    2021-12-01 $444,725 (32.1%) $540,626 (21.4%) 1.20 98
    2022-01-01 $419,900 (23.5%) $531,532 (21.8%) 1.14 83
    2022-02-01 $464,900 (30.6%) $590,050 (24.2%) 1.21 67
    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 $449,700 (19.9%) $568,050 (14.0%) 1.03 128
    2022-06-01 $463,475 (22.3%) $589,032 (18.4%) 1.03 176
    2022-07-01 $499,000 (19.5%) $625,736 (13.8%) 1.12 213
    2022-08-01 $484,975 (24.1%) $607,822 (11.8%) 1.12 214
    2022-09-01 $486,000 (21.6%) $598,762 (15.5%) 1.14 203
    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 (12.4%) $557,403 (3.1%) 1.23 163
    2023-01-01 $499,500 (19.0%) $549,914 (3.5%) 1.24 121
    2023-02-01 $522,475 (12.4%) $561,487 (-4.8%) 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
    2023-05-01 $526,000 (17.0%) $614,541 (8.2%) 1.19 112
    2023-06-01 $565,000 (21.9%) $660,790 (12.2%) 1.27 136
    2023-07-01 $550,000 (10.2%) $638,664 (2.1%) 1.25 155
    2023-08-01 $578,454 (19.3%) $652,192 (7.3%) 1.33 147
    2023-09-01 $549,950 (13.2%) $627,388 (4.8%) 1.28 163
    2023-10-01 $550,000 (11.2%) $646,058 (13.1%) 1.29 182
    2023-11-01 $549,425 (11.9%) $612,984 (10.3%) 1.31 168
    2023-12-01 $574,950 (15.0%) $628,347 (12.7%) 1.40 149
    2024-01-01 $556,175 (11.4%) $605,464 (10.1%) 1.36 122
    2024-02-01 $549,900 (5.3%) $593,352 (5.7%) 1.32 107
    2024-03-01 $569,950 (11.8%) $609,700 (10.1%) 1.34 114
    2024-04-01 $598,675 (14.6%) $629,797 (6.6%) 1.39 124
    2024-05-01 $599,900 (14.1%) $675,701 (10.0%) 1.36 162
    2024-06-01 $590,000 (4.4%) $718,582 (8.8%) 1.33 192
    2024-07-01 $599,644 (9.0%) $720,402 (12.8%) 1.37 196
    2024-08-01 $559,500 (-3.3%) $680,122 (4.3%) 1.30 220
    2024-09-01 $552,450 (0.5%) $660,938 (5.4%) 1.30 225
    2024-10-01 $534,475 (-2.8%) $635,695 (-1.6%) 1.26 234
    2024-11-01 $539,900 (-1.7%) $667,356 (8.9%) 1.30 195
    Concord's median listing price for 2024-11-01 was $539,900, a difference of $-9,525 (-1.7%) versus the prior year and $5,425 versus the prior month.

    Concord's median listing price comes in at 130% of the national average.

    Concord's average listing price for 2024-11-01 was $667,356, a difference of $54,372 (8.9%) versus the prior year and $31,661 versus the prior month.

    For the 2024-11-01 period, Concord had 195 MLS listings, a difference of -39 listings (-17%) versus the prior month and 27 listings (16%) 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
    2018-01-01 100 days 2,194 sqft
    2018-02-01 105 days 2,173 sqft
    2018-03-01 72 days 2,217 sqft
    2018-04-01 49 days 2,205 sqft
    2018-05-01 40 days 2,169 sqft
    2018-06-01 39 days 2,163 sqft
    2018-07-01 48 days 2,187 sqft
    2018-08-01 53 days 2,185 sqft
    2018-09-01 58 days 2,180 sqft
    2018-10-01 66 days 2,216 sqft
    2018-11-01 74 days 2,201 sqft
    2018-12-01 89 days 2,132 sqft
    2019-01-01 88 days 2,160 sqft
    2019-02-01 88 days 2,096 sqft
    2019-03-01 65 days 2,098 sqft
    2019-04-01 43 days 2,124 sqft
    2019-05-01 40 days 2,121 sqft
    2019-06-01 42 days 2,130 sqft
    2019-07-01 48 days 2,085 sqft
    2019-08-01 52 days 2,094 sqft
    2019-09-01 53 days 2,079 sqft
    2019-10-01 57 days 2,078 sqft
    2019-11-01 67 days 2,065 sqft
    2019-12-01 78 days 1,978 sqft
    2020-01-01 85 days 2,016 sqft
    2020-02-01 60 days 2,065 sqft
    2020-03-01 43 days 2,076 sqft
    2020-04-01 48 days 2,139 sqft
    2020-05-01 53 days 2,125 sqft
    2020-06-01 31 days 2,172 sqft
    2020-07-01 38 days 2,199 sqft
    2020-08-01 42 days 2,222 sqft
    2020-09-01 32 days 2,073 sqft
    2020-10-01 39 days 1,987 sqft
    2020-11-01 45 days 2,025 sqft
    2020-12-01 54 days 1,915 sqft
    2021-01-01 47 days 1,846 sqft
    2021-02-01 28 days 1,800 sqft
    2021-03-01 16 days 1,727 sqft
    2021-04-01 13 days 1,826 sqft
    2021-05-01 14 days 2,072 sqft
    2021-06-01 17 days 2,070 sqft
    2021-07-01 25 days 2,191 sqft
    2021-08-01 34 days 2,130 sqft
    2021-09-01 33 days 2,096 sqft
    2021-10-01 36 days 1,998 sqft
    2021-11-01 40 days 1,947 sqft
    2021-12-01 49 days 1,980 sqft
    2022-01-01 44 days 1,883 sqft
    2022-02-01 22 days 1,944 sqft
    2022-03-01 14 days 1,854 sqft
    2022-04-01 10 days 1,872 sqft
    2022-05-01 14 days 1,921 sqft
    2022-06-01 12 days 1,948 sqft
    2022-07-01 23 days 2,119 sqft
    2022-08-01 32 days 2,104 sqft
    2022-09-01 39 days 2,141 sqft
    2022-10-01 40 days 2,099 sqft
    2022-11-01 39 days 2,058 sqft
    2022-12-01 54 days 2,052 sqft
    2023-01-01 66 days 2,073 sqft
    2023-02-01 64 days 2,022 sqft
    2023-03-01 35 days 1,889 sqft
    2023-04-01 17 days 2,043 sqft
    2023-05-01 14 days 2,056 sqft
    2023-06-01 18 days 2,082 sqft
    2023-07-01 24 days 2,128 sqft
    2023-08-01 32 days 2,086 sqft
    2023-09-01 31 days 2,154 sqft
    2023-10-01 32 days 2,188 sqft
    2023-11-01 39 days 2,195 sqft
    2023-12-01 54 days 2,175 sqft
    2024-01-01 58 days 2,060 sqft
    2024-02-01 42 days 1,995 sqft
    2024-03-01 29 days 2,049 sqft
    2024-04-01 27 days 2,072 sqft
    2024-05-01 17 days 2,107 sqft
    2024-06-01 26 days 2,080 sqft
    2024-07-01 33 days 2,085 sqft
    2024-08-01 32 days 2,020 sqft
    2024-09-01 31 days 2,050 sqft
    2024-10-01 32 days 2,072 sqft
    2024-11-01 46 days 2,038 sqft
    Concord's median listing age (time on market) for 2024-11-01 was 46 days. This is 17% longer than the same period one year ago.

    Concord's median square footage for active listings during the 2024-11-01 period was 2,038 sqft. One year prior, the average listing was 2,195 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).