Hagerstown FHA Loan Rates, Closing Costs & Stats

HAGERSTOWN-MARTINSBURG, MD-WV

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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.

    Hagerstown's 143 lenders originated 1,644 FHA loans during 2024. The total origination value was $468,650,000, with an average FHA loan value of $285,067.

    Hagerstown FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Hagerstown averaged 0.01% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Hagerstown's average FHA mortgage closing costs are $9,033.

    The average rate for the prior week (2025-06-13) was 6.6% and one month ago for the week of 2025-05-16, the average rate was 6.56%.

    The average rate one year ago was 6.81%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.24%.

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

    Hagerstown 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 Hagerstown level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Integrity Home Mortgage Corp 154 6.37% $13,194
    NVR Mortgage Finance, Inc. 115 6.13% $11,539
    HOMESPIRE MORTGAGE CORPORATION 103 6.22% $10,930
    UNITED WHOLESALE MORTGAGE, LLC 92 6.25% $12,919
    QUICKEN LOANS, LLC 82 6.29% $12,163
    PRIMELENDING, A PLAINSCAPITAL COMPANY 47 6.09% $9,808
    FREEDOM MORTGAGE CORPORATION 43 6.37% $13,789
    LOANDEPOT.COM, LLC 41 6.04% $9,654
    UNION HOME MORTGAGE CORP. 30 6.50% $12,347
    PENNYMAC LOAN SERVICES, LLC 28 6.24% $11,835
    CROSSCOUNTRY MORTGAGE, LLC 27 6.43% $12,320
    EMBRACE HOME LOANS, INC. 25 6.44% $10,683
    DIRECT MORTGAGE LOANS, LLC 24 6.73% $13,188
    NEWREZ LLC 24 6.42% $10,506
    FIRST HOME MORTGAGE CORPORATION 24 6.52% $13,483
    Shore United Bank 22 6.22% $11,105
    INTERCOASTAL MORTGAGE COMPANY 21 5.98% $8,901
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 21 6.14% $12,147
    T2 FINANCIAL LLC 20 6.38% $9,956
    NFM, INC. 20 6.75% $11,912
    Sierra Pacific Mortgage Company, Inc. 20 6.42% $14,615
    Atlantic Coast Mortgage, LLC 19 6.66% $11,426
    GUILD MORTGAGE COMPANY 19 6.62% $11,462
    City Lending Inc. 18 7.28% $13,959
    First Heritage Mortgage, LLC 17 6.45% $10,570
    Carrington Mortgage Services, LLC 15 6.51% $11,765
    AMERISAVE MORTGAGE CORPORATION 15 6.30% $13,725
    MOVEMENT MORTGAGE, LLC 15 6.30% $11,284
    EAGLE HOME MORTGAGE, LLC 13 6.00% $11,487
    GSF Mortgage Corporation 12 6.49% $13,867
    VILLAGE CAPITAL MORTGAGE 12 6.40% $5,252
    Paramount Residential Mortgage Group, Inc. 11 6.40% $11,855
    Towne Bank 11 6.19% $10,930
    HOMESIDE FINANCIAL, LLC 11 6.60% $11,234
    AMERICAN FINANCIAL NETWORK, INC. 10 6.84% $14,757
    LAKEVIEW LOAN SERVICING, LLC 10 6.37% $8,187
    Prosperity Home Mortgage, LLC 10 6.84% $11,305
    Mr. Cooper ( Nationstar Mortgage ) 9 6.53% $10,222
    M&T Bank 9 6.21% $10,200
    MICHIGAN MUTUAL, INC. 9 6.06% $10,187
    BROKER SOLUTIONS, INC. 9 7.00% $10,459
    BAY CAPITAL MORTGAGE CORPORATION 9 6.46% $11,489
    SUN WEST MORTGAGE COMPANY, INC. 9 6.71% $12,588
    Vellum Mortgage, Inc. 9 6.64% $12,311
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 6.88% $11,902
    PLAZA HOME MORTGAGE, INC. 8 7.11% $14,105
    HOMEBRIDGE FINANCIAL SERVICES, INC. 7 6.66% $8,514
    EVERETT FINANCIAL, INC. 7 6.61% $14,592
    Truist 7 6.41% $11,152
    Equity Prime Mortgage LLC 7 6.75% $13,396
    MUTUAL OF OMAHA MORTGAGE, INC. 6 6.56% $17,186
    CMG MORTGAGE, INC. 6 6.33% $11,097
    FIDELITY DIRECT MORTGAGE, LLC 6 6.54% $12,049
    LOANPAL, LLC 6 5.48% $16,229
    Mortgage Research Center, LLC 6 6.79% $7,989
    PLANET HOME LENDING, LLC 6 6.08% $5,870
    Presidential Bank, FSB 6 6.73% $10,599
    TOTAL MORTGAGE SERVICES, LLC 6 6.60% $11,074
    United Bank 6 6.33% $9,056
    Meridian Bank Corporation 5 6.73% $11,291
    ZILLOW HOME LOANS, LLC 5 6.60% $10,547
    THE MORTGAGE LINK, INC. 5 6.73% $19,600
    DHI MORTGAGE COMPANY, LTD. 5 5.47% $10,502
    Century Mortgage Company DBA Century Lending Company 5 6.18% $13,020
    MILLENNIUM FINANCIAL GROUP, INC. 5 6.10% $9,033
    SWBC MORTGAGE CORPORATION 4 6.69% $12,080
    Flagstar Bank, FSB 4 6.42% $9,724
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.69% $6,760
    AMERICAN FINANCIAL RESOURCES, INC. 4 6.38% $12,020
    PENTAGON FEDERAL CREDIT UNION 4 5.81% $15,060
    ENVOY MORTGAGE, LTD 4 6.94% $10,949
    GUARANTEED RATE, INC. 3 6.48% $10,190
    LAND HOME FINANCIAL SERVICES, INC. 3 7.50% $18,739
    U.S. Bank 3 6.38% $7,933
    MID AMERICA MORTGAGE, INC. 3 6.96% $12,067
    MLD MORTGAGE INC. 3 6.21% $8,208
    C & F Mortgage Corporation 3 6.50% $11,229
    Atlantic Union Bank 3 6.26% $7,752
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 3 6.25% $7,045
    AmeriHome Mortgage Company, LLC 3 6.41% $10,541
    Waterstone Mortgage Corporation 3 7.21% $10,852
    AMERICAN FINANCING CORPORATION 3 5.50% $10,882
    Fulton Bank 3 6.13% $11,186
    GUARANTEED RATE AFFINITY, LLC 3 6.13% $16,584
    ABSOLUTE HOME MORTGAGE CORPORATION 2 6.75% $13,168
    NATIONS DIRECT MORTGAGE, LLC 2 6.44% $13,690
    Nations Lending Corporation 2 6.25% $14,645
    CARDINAL FINANCIAL 2 5.56% $9,953
    CANOPY MORTGAGE, LLC 2 6.19% $11,090
    BAYSHORE MORTGAGE FUNDING, LLC 2 6.94% $13,087
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 7.19% $12,217
    Barrington Bank & Trust Company, N.A. 2 6.69% $12,639
    UNIVERSAL MORTGAGE & FINANCE, INC. 2 6.88% $13,009
    ROYAL UNITED MORTGAGE LLC 2 6.44% $15,335
    Sandy Spring Bank 2 5.87% $12,836
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 2 7.00% $11,618
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.63% $14,394
    Encompass Lending Group, LP 2 6.94% $9,750
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.00% $17,686
    THE MORTGAGE FIRM, INC. 2 6.19% $13,380
    TIDEWATER MORTGAGE SERVICES, INC. 2 6.19% $10,258
    TOWNE MORTGAGE COMPANY 2 6.06% $14,217
    EQUITY RESOURCES, INC. 2 7.00% $10,125
    Keystone Funding, Inc. 2 6.19% $13,168
    MLB RESIDENTIAL LENDING, LLC 2 6.69% $12,798
    HOMEAMERICAN MORTGAGE CORPORATION 2 5.19% $10,164
    CONTOUR MORTGAGE CORPORATION 1 6.13% $11,999
    GENEVA FINANCIAL, LLC 1 6.75% $23,617
    Bank of England 1 6.50% $11,099
    American Mortgage & Equity Consultants, Inc. 1 6.75% $12,414
    RADIUS FINANCIAL GROUP INC. 1 7.25% $7,159
    MORTGAGE EQUITY PARTNERS LLC 1 5.75% $12,914
    CORNERSTONE HOME LENDING, INC. 1 5.63% $18,821
    TruHome Solutions, LLC 1 7.13% $5,679
    EMM LOANS LLC 1 7.50% $10,205
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 5.75% $11,035
    Strong Home Mortgage, LLC 1 5.99% $11,937
    LIBERTY HOME MORTGAGE CORPORATION 1 6.88% $11,835
    SUMMIT FUNDING, INC. 1 7.00% $21,822
    FIRST COLONY MORTGAGE CORPORATION 1 6.50% $17,639
    Cornerstone First Mortgage, Inc 1 5.99% $20,245
    GEO-CORP, INC. 1 8.25% $14,597
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $11,171
    Alcova Mortgage LLC 1 6.75% $12,837
    KeyBank 1 5.50% $7,466
    1ST 2ND MORTGAGE COMPANY OF N.J., INC. 1 6.13% $9,058
    MY MORTGAGE, INC. 1 6.63% $7,054
    The Federal Savings Bank 1 6.75% $12,459
    The Freedom Bank of Virginia 1 6.25% $8,790
    NBKC BANK 1 5.88% $8,554
    The Loan Store, Inc. 1 6.13% $9,344
    Capital Bank 1 6.13% $7,287
    Northpointe Bank 1 6.25% $10,055
    DAS Acquisition Company, LLC 1 6.25% $9,676
    OCMBC, INC. 1 6.50% $13,145
    Blue Ridge Bank 1 6.88% $9,730
    BECKAM FUNDING CORP. 1 7.25% $25,989
    JMAC LENDING, INC. 1 6.63% $14,301
    Plains Commerce Bank 1 6.50% $5,695
    1ST FINANCIAL, INC. 1 6.75% $13,064
    Homesale Mortgage, LLC 1 6.25% $10,727
    POLARIS HOME FUNDING CORP. 1 5.75% $10,597
    Watermark Capital, Inc. 1 5.75% $14,443

    The top Hagerstown FHA lender as defined by loan originations is Integrity Home Mortgage Corp, with 154 FHA loans originated. Their average total fees are $13,194, which is $1,655 higher than the next largest lender, NVR Mortgage Finance, Inc..

    The lowest fee Hagerstown FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($5,252), LAKEVIEW LOAN SERVICING, LLC ($8,187), INTERCOASTAL MORTGAGE COMPANY ($8,901), LOANDEPOT.COM, LLC ($9,654) and PRIMELENDING, A PLAINSCAPITAL COMPANY ($9,808).

    The lowest rate Hagerstown FHA lenders (with over 10 loans originated) are INTERCOASTAL MORTGAGE COMPANY (5.98%), EAGLE HOME MORTGAGE, LLC (6.00%), LOANDEPOT.COM, LLC (6.04%), PRIMELENDING, A PLAINSCAPITAL COMPANY (6.09%) and NVR Mortgage Finance, Inc. (6.13%).

    Hagerstown FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    HAGERSTOWN-MARTINSBURG, MD-WV WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
    HAGERSTOWN-MARTINSBURG, MD-WV BERKELEY 2022 $420,680 $538,650 $651,050 $809,150
    HAGERSTOWN-MARTINSBURG, MD-WV MORGAN 2022 $420,680 $538,650 $651,050 $809,150
    HAGERSTOWN-MARTINSBURG, MD-WV WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
    HAGERSTOWN-MARTINSBURG, MD-WV BERKELEY 2023 $472,030 $604,400 $730,525 $907,900
    HAGERSTOWN-MARTINSBURG, MD-WV MORGAN 2023 $472,030 $604,400 $730,525 $907,900

    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).