Concord FHA Loan Rates, Closing Costs & Stats

Concord, NH

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).