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 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 6.81% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

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

The average rate for the prior week (2024-04-05) was 6.84% and one month ago for the week of 2024-03-08, the average rate was 6.78%.

The average rate one year ago was 6.31%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.92%.

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
Concord's median listing price for 2024-03-01 was $569,950, a difference of $60,000 (11.8%) versus the prior year and $20,050 versus the prior month.

Concord's median listing price comes in at 134% of the national average.

Concord's average listing price for 2024-03-01 was $609,700, a difference of $55,834 (10.1%) versus the prior year and $16,348 versus the prior month.

For the 2024-03-01 period, Concord had 114 MLS listings, a difference of 7 listings (7%) versus the prior month and 31 listings (37%) 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
Concord's median listing age (time on market) for 2024-03-01 was 29 days. This is -16% shorter than the same period one year ago.

Concord's median square footage for active listings during the 2024-03-01 period was 2,049 sqft. One year prior, the average listing was 1,889 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).