Easton FHA Loan Rates, Closing Costs & Stats

Easton, MD

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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.

    Easton's 31 lenders originated 61 FHA loans during 2023. The total origination value was $24,875,000, with an average FHA loan value of $407,787.

    Easton FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Easton averaged -0.36% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Easton's average FHA mortgage closing costs are $10,862.

    The average rate for the prior week (2024-11-08) was 6.35% and one month ago for the week of 2024-10-11, the average rate was 5.85%.

    The average rate one year ago was 7.1%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.1%.

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

    Easton 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 Easton level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 6 6.18% $18,809
    FIRST HOME MORTGAGE CORPORATION 5 6.20% $15,535
    UNITED WHOLESALE MORTGAGE, LLC 4 6.64% $14,037
    NFM, INC. 3 6.96% $11,340
    CMG MORTGAGE, INC. 3 5.79% $21,616
    MOVEMENT MORTGAGE, LLC 2 6.19% $9,698
    Mr. Cooper ( Nationstar Mortgage ) 2 5.75% $18,137
    M&T Bank 2 6.44% $9,504
    PENTAGON FEDERAL CREDIT UNION 2 5.94% $8,833
    CROSSCOUNTRY MORTGAGE, LLC 2 6.47% $14,386
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.69% $9,163
    NATIONS DIRECT MORTGAGE, LLC 1 7.13% $14,169
    NETWORK CAPITAL FUNDING CORPORATION 1 6.13% $16,707
    PENNYMAC LOAN SERVICES, LLC 1 5.63% $24,057
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $24,353
    RADIUS FINANCIAL GROUP INC. 1 7.63% $10,423
    Sandy Spring Bank 1 5.75% $11,878
    Shore United Bank 1 7.50% $11,891
    U.S. Bank 1 5.25% $16,654
    ACADEMY MORTGAGE CORPORATION 1 6.63% $7,853
    VILLAGE CAPITAL MORTGAGE 1 5.75% $14,268
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $10,575
    Ameris Bank 1 6.25% $7,014
    BAY CAPITAL MORTGAGE CORPORATION 1 6.63% $12,900
    BAY EQUITY LLC 1 6.25% $15,772
    CARDINAL FINANCIAL 1 7.25% $16,753
    Carrington Mortgage Services, LLC 1 5.63% $8,675
    Encompass Lending Group, LP 1 7.75% $15,678
    FIDELITY DIRECT MORTGAGE, LLC 1 7.50% $12,663
    Flagstar Bank, FSB 1 5.63% $19,893
    FREEDOM MORTGAGE CORPORATION 1 6.75% $13,407

    The top Easton FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 6 FHA loans originated. Their average total fees are $18,809, which is $3,275 higher than the next largest lender, FIRST HOME MORTGAGE CORPORATION.

    The lowest fee Easton FHA lenders (with over 10 loans originated) are .

    The lowest rate Easton FHA lenders (with over 10 loans originated) are .

    Easton FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    EASTON, MD TALBOT 2022 $431,250 $552,050 $667,350 $829,350
    EASTON, MD TALBOT 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Easton (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 $482,220 (7.7%) $789,299 (-8.1%) 0.00 347
    2018-02-01 $476,498 (5.0%) $791,084 (-7.2%) 0.00 324
    2018-03-01 $519,999 (14.4%) $845,991 (2.0%) 0.00 347
    2018-04-01 $529,495 (11.6%) $906,649 (8.4%) 0.00 396
    2018-05-01 $529,000 (9.5%) $908,130 (8.0%) 0.00 408
    2018-06-01 $549,000 (13.6%) $926,347 (11.4%) 0.00 405
    2018-07-01 $529,968 (6.0%) $917,006 (11.3%) 0.00 388
    2018-08-01 $544,000 (4.1%) $897,142 (4.5%) 0.00 400
    2018-09-01 $549,000 (4.6%) $882,480 (2.6%) 0.00 413
    2018-10-01 $552,175 (11.4%) $906,960 (6.2%) 0.00 406
    2018-11-01 $579,975 (18.4%) $977,598 (18.2%) 0.00 395
    2018-12-01 $595,000 (25.3%) $993,196 (25.6%) 0.00 363
    2019-01-01 $596,000 (23.6%) $1,037,387 (31.4%) 0.00 304
    2019-02-01 $595,000 (24.9%) $1,052,679 (33.1%) 0.00 318
    2019-03-01 $575,286 (10.6%) $1,009,342 (19.3%) 0.00 342
    2019-04-01 $549,225 (3.7%) $948,905 (4.7%) 0.00 375
    2019-05-01 $544,225 (2.9%) $952,602 (4.9%) 0.00 406
    2019-06-01 $539,000 (-1.8%) $994,135 (7.3%) 0.00 414
    2019-07-01 $549,974 (3.8%) $1,074,918 (17.2%) 0.00 407
    2019-08-01 $550,000 (1.1%) $1,075,767 (19.9%) 0.00 405
    2019-09-01 $550,000 (0.2%) $1,070,549 (21.3%) 0.00 406
    2019-10-01 $549,500 (-0.5%) $1,058,265 (16.7%) 0.00 401
    2019-11-01 $535,000 (-7.8%) $1,022,740 (4.6%) 0.00 386
    2019-12-01 $532,000 (-10.6%) $1,001,058 (0.8%) 0.00 337
    2020-01-01 $512,625 (-14.0%) $980,793 (-5.5%) 0.00 296
    2020-02-01 $498,000 (-16.3%) $994,178 (-5.6%) 0.00 283
    2020-03-01 $543,500 (-5.5%) $1,030,828 (2.1%) 0.00 306
    2020-04-01 $548,000 (-0.2%) $1,053,716 (11.1%) 0.00 305
    2020-05-01 $549,000 (0.9%) $1,088,594 (14.3%) 0.00 306
    2020-06-01 $549,000 (1.9%) $1,150,900 (15.8%) 0.00 268
    2020-07-01 $549,575 (-0.1%) $1,153,418 (7.3%) 0.00 241
    2020-08-01 $549,900 (0.0%) $1,175,367 (9.3%) 0.00 229
    2020-09-01 $547,250 (-0.5%) $1,227,043 (14.6%) 0.00 209
    2020-10-01 $560,000 (1.9%) $1,226,256 (15.9%) 0.00 204
    2020-11-01 $563,975 (5.4%) $1,396,934 (36.6%) 0.00 188
    2020-12-01 $550,000 (3.4%) $1,497,458 (49.6%) 0.00 165
    2021-01-01 $525,000 (2.4%) $1,555,113 (58.6%) 0.00 137
    2021-02-01 $550,000 (10.4%) $1,703,398 (71.3%) 0.00 127
    2021-03-01 $512,495 (-5.7%) $1,563,491 (51.7%) 0.00 122
    2021-04-01 $518,698 (-5.4%) $1,691,408 (60.5%) 0.00 116
    2021-05-01 $524,900 (-4.4%) $1,416,381 (30.1%) 0.00 125
    2021-06-01 $525,000 (-4.4%) $1,475,158 (28.2%) 0.00 129
    2021-07-01 $579,000 (5.4%) $1,412,374 (22.5%) 0.00 134
    2021-08-01 $554,495 (0.8%) $1,384,574 (17.8%) 0.00 127
    2021-09-01 $534,748 (-2.3%) $1,348,843 (9.9%) 0.00 130
    2021-10-01 $525,000 (-6.3%) $1,301,421 (6.1%) 0.00 128
    2021-11-01 $534,675 (-5.2%) $1,280,536 (-8.3%) 0.00 121
    2021-12-01 $466,495 (-15.2%) $1,203,225 (-19.7%) 0.00 107
    2022-01-01 $475,950 (-9.3%) $1,240,124 (-20.3%) 0.00 87
    2022-02-01 $486,200 (-11.6%) $1,197,206 (-29.7%) 0.00 72
    2022-03-01 $566,553 (10.6%) $1,181,550 (-24.4%) 0.00 65
    2022-04-01 $549,990 (6.0%) $1,241,716 (-26.6%) 0.00 64
    2022-05-01 $649,900 (23.8%) $1,451,212 (2.5%) 0.00 109
    2022-06-01 $581,220 (10.7%) $1,376,357 (-6.7%) 0.00 123
    2022-07-01 $507,495 (-12.4%) $1,371,431 (-2.9%) 0.00 129
    2022-08-01 $494,475 (-10.8%) $1,430,845 (3.3%) 0.00 128
    2022-09-01 $492,496 (-7.9%) $1,442,438 (6.9%) 0.00 128
    2022-10-01 $512,495 (-2.4%) $1,445,547 (11.1%) 0.00 131
    2022-11-01 $502,175 (-6.1%) $1,374,089 (7.3%) 0.00 123
    2022-12-01 $499,000 (7.0%) $1,369,824 (13.9%) 0.00 95
    2023-01-01 $496,500 (4.3%) $1,355,721 (9.3%) 0.00 88
    2023-02-01 $499,500 (2.7%) $1,431,962 (19.6%) 0.00 78
    2023-03-01 $491,743 (-13.2%) $1,421,084 (20.3%) 0.00 80
    2023-04-01 $696,750 (26.7%) $1,969,191 (58.6%) 0.00 93
    2023-05-01 $799,880 (23.1%) $2,169,204 (49.5%) 0.00 96
    2023-06-01 $788,720 (35.7%) $2,250,594 (63.5%) 0.00 100
    2023-07-01 $659,000 (29.9%) $2,157,564 (57.3%) 0.00 106
    2023-08-01 $757,498 (53.2%) $2,199,034 (53.7%) 0.00 108
    2023-09-01 $677,375 (37.5%) $1,979,290 (37.2%) 0.00 114
    2023-10-01 $737,475 (43.9%) $2,100,758 (45.3%) 0.00 123
    2023-11-01 $806,250 (60.6%) $2,287,932 (66.5%) 0.00 105
    2023-12-01 $699,000 (40.1%) $2,082,062 (52.0%) 0.00 93
    2024-01-01 $717,225 (44.5%) $1,902,045 (40.3%) 0.00 92
    2024-02-01 $587,172 (17.6%) $1,700,613 (18.8%) 0.00 106
    2024-03-01 $577,444 (17.4%) $1,883,040 (32.5%) 0.00 119
    2024-04-01 $656,013 (-5.9%) $1,969,858 (0.0%) 0.00 137
    2024-05-01 $679,500 (-15.1%) $1,842,857 (-15.0%) 0.00 149
    2024-06-01 $649,000 (-17.7%) $1,627,992 (-27.7%) 0.00 173
    2024-07-01 $587,450 (-10.9%) $1,521,561 (-29.5%) 0.00 177
    2024-08-01 $574,900 (-24.1%) $1,413,014 (-35.7%) 0.00 161
    2024-09-01 $560,250 (-17.3%) $1,427,569 (-27.9%) 0.00 166
    2024-10-01 $604,636 (-18.0%) $1,469,483 (-30.1%) 0.00 167
    Easton's median listing price for 2024-10-01 was $604,636, a difference of $-132,839 (-18.0%) versus the prior year and $44,386 versus the prior month.

    Easton's median listing price comes in at 0% of the national average.

    Easton's average listing price for 2024-10-01 was $1,469,483, a difference of $-631,275 (-30.1%) versus the prior year and $41,914 versus the prior month.

    For the 2024-10-01 period, Easton had 167 MLS listings, a difference of 1 listings (1%) versus the prior month and 44 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Easton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,543 sqft
    2018-02-01 0 days 2,523 sqft
    2018-03-01 0 days 2,595 sqft
    2018-04-01 0 days 2,569 sqft
    2018-05-01 0 days 2,594 sqft
    2018-06-01 0 days 2,552 sqft
    2018-07-01 0 days 2,489 sqft
    2018-08-01 0 days 2,532 sqft
    2018-09-01 0 days 2,482 sqft
    2018-10-01 0 days 2,509 sqft
    2018-11-01 0 days 2,566 sqft
    2018-12-01 0 days 2,592 sqft
    2019-01-01 0 days 2,603 sqft
    2019-02-01 0 days 2,612 sqft
    2019-03-01 0 days 2,581 sqft
    2019-04-01 0 days 2,546 sqft
    2019-05-01 0 days 2,577 sqft
    2019-06-01 0 days 2,609 sqft
    2019-07-01 0 days 2,700 sqft
    2019-08-01 0 days 2,686 sqft
    2019-09-01 0 days 2,664 sqft
    2019-10-01 0 days 2,641 sqft
    2019-11-01 0 days 2,564 sqft
    2019-12-01 0 days 2,515 sqft
    2020-01-01 0 days 2,425 sqft
    2020-02-01 0 days 2,378 sqft
    2020-03-01 0 days 2,524 sqft
    2020-04-01 0 days 2,554 sqft
    2020-05-01 0 days 2,600 sqft
    2020-06-01 0 days 2,624 sqft
    2020-07-01 0 days 2,572 sqft
    2020-08-01 0 days 2,504 sqft
    2020-09-01 0 days 2,448 sqft
    2020-10-01 0 days 2,432 sqft
    2020-11-01 0 days 2,499 sqft
    2020-12-01 0 days 2,461 sqft
    2021-01-01 0 days 2,448 sqft
    2021-02-01 0 days 2,433 sqft
    2021-03-01 0 days 2,252 sqft
    2021-04-01 0 days 2,436 sqft
    2021-05-01 0 days 2,466 sqft
    2021-06-01 0 days 2,530 sqft
    2021-07-01 0 days 2,532 sqft
    2021-08-01 0 days 2,440 sqft
    2021-09-01 0 days 2,479 sqft
    2021-10-01 0 days 2,304 sqft
    2021-11-01 0 days 2,251 sqft
    2021-12-01 0 days 2,005 sqft
    2022-01-01 0 days 2,050 sqft
    2022-02-01 0 days 2,002 sqft
    2022-03-01 0 days 2,004 sqft
    2022-04-01 0 days 2,100 sqft
    2022-05-01 0 days 2,300 sqft
    2022-06-01 0 days 2,300 sqft
    2022-07-01 0 days 2,300 sqft
    2022-08-01 0 days 2,192 sqft
    2022-09-01 0 days 2,220 sqft
    2022-10-01 0 days 2,106 sqft
    2022-11-01 0 days 2,237 sqft
    2022-12-01 0 days 2,200 sqft
    2023-01-01 0 days 2,125 sqft
    2023-02-01 0 days 2,127 sqft
    2023-03-01 0 days 1,934 sqft
    2023-04-01 0 days 2,312 sqft
    2023-05-01 0 days 2,456 sqft
    2023-06-01 0 days 2,516 sqft
    2023-07-01 0 days 2,449 sqft
    2023-08-01 0 days 2,488 sqft
    2023-09-01 0 days 2,496 sqft
    2023-10-01 0 days 2,597 sqft
    2023-11-01 0 days 2,727 sqft
    2023-12-01 0 days 2,715 sqft
    2024-01-01 0 days 2,486 sqft
    2024-02-01 0 days 2,185 sqft
    2024-03-01 0 days 2,282 sqft
    2024-04-01 0 days 2,310 sqft
    2024-05-01 0 days 2,404 sqft
    2024-06-01 0 days 2,286 sqft
    2024-07-01 0 days 2,112 sqft
    2024-08-01 0 days 2,121 sqft
    2024-09-01 0 days 2,116 sqft
    2024-10-01 0 days 2,295 sqft
    Easton's median listing age (time on market) for 2024-10-01 was 0 days.

    Easton's median square footage for active listings during the 2024-10-01 period was 2,295 sqft. One year prior, the average listing was 2,597 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).