Easton FHA Loan Rates, Closing Costs & Stats

Easton, MD

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 6.34% for the week of 2024-03-22, compared to the national average (all FHA variants) of 6.696% for the same period.

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

The average rate for the prior week (2024-03-15) was 6.26% and one month ago for the week of 2024-02-16, the average rate was 6.28%.

The average rate one year ago was 6.07%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.9%.

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
Easton's median listing price for 2024-02-01 was $587,172, a difference of $87,672 (17.6%) versus the prior year and $-130,053 versus the prior month.

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

Easton's average listing price for 2024-02-01 was $1,700,613, a difference of $268,651 (18.8%) versus the prior year and $-201,432 versus the prior month.

For the 2024-02-01 period, Easton had 106 MLS listings, a difference of 14 listings (15%) versus the prior month and 28 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
Easton's median listing age (time on market) for 2024-02-01 was 0 days.

Easton's median square footage for active listings during the 2024-02-01 period was 2,185 sqft. One year prior, the average listing was 2,127 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).