Hartford FHA Loan Rates, Closing Costs & Stats

HARTFORD-EAST HARTFORD-MIDDLETOWN, CT

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.

Hartford's 140 lenders originated 2,292 FHA loans during 2023. The total origination value was $628,200,000, with an average FHA loan value of $274,084.

Hartford FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Hartford averaged 6.5% for the week of 2024-05-24, compared to the national average (all FHA variants) of 6.746% for the same period.

Hartford's average FHA mortgage closing costs are $8,341.

The average rate for the prior week (2024-05-17) was 6.7% and one month ago for the week of 2024-04-19, the average rate was 6.92%.

The average rate one year ago was 6.34%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.5%.

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

Hartford 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 Hartford level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 253 6.30% $11,443
FIRST WORLD MORTGAGE CORPORATION 251 6.29% $9,778
UNITED WHOLESALE MORTGAGE, LLC 154 6.38% $13,521
MOVEMENT MORTGAGE, LLC 124 6.50% $11,359
TOTAL MORTGAGE SERVICES, LLC 98 6.55% $11,469
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 82 6.61% $11,906
NORWICH COMMERCIAL GROUP, INC. 74 6.32% $10,650
LOANDEPOT.COM, LLC 52 6.50% $12,609
NEWREZ LLC 51 6.63% $12,006
GUARANTEED RATE, INC. 48 6.58% $12,028
Prosperity Home Mortgage, LLC 44 6.45% $10,365
Carrington Mortgage Services, LLC 41 6.49% $13,252
CROSSCOUNTRY MORTGAGE, LLC 40 6.69% $13,739
Mr. Cooper ( Nationstar Mortgage ) 37 6.08% $15,619
PLAZA HOME MORTGAGE, INC. 36 6.73% $13,791
FREEDOM MORTGAGE CORPORATION 33 6.85% $14,783
PENNYMAC LOAN SERVICES, LLC 32 6.26% $12,986
Paramount Residential Mortgage Group, Inc. 30 6.87% $11,576
GUILD MORTGAGE COMPANY 26 6.44% $10,429
ARK-LA-TEX FINANCIAL SERVICES, LLC. 24 6.57% $12,616
BROKER SOLUTIONS, INC. 21 6.99% $11,798
WILLIAM RAVEIS MORTGAGE, LLC 19 6.25% $10,314
HOMEBRIDGE FINANCIAL SERVICES, INC. 19 6.03% $10,129
ENVOY MORTGAGE, LTD 18 6.24% $10,036
AMERISAVE MORTGAGE CORPORATION 18 5.81% $16,283
Citizens Bank 18 6.64% $13,471
NORTHPOINT MORTGAGE, INC. 16 6.45% $10,460
PROVINCE MORTGAGE ASSOCIATES, INC. 15 6.78% $11,476
CARDINAL FINANCIAL 14 6.07% $13,910
LEADERONE FINANCIAL CORPORATION 14 6.74% $12,900
Equity Prime Mortgage LLC 12 7.02% $14,701
MORTGAGE EQUITY PARTNERS LLC 12 6.88% $11,859
M&T Bank 12 6.40% $10,848
Liberty Bank 12 6.03% $7,800
HOMESTEAD FUNDING CORP. 11 6.28% $11,492
Flagstar Bank, FSB 11 6.40% $11,072
BAY EQUITY LLC 10 6.46% $10,489
MUTUAL OF OMAHA MORTGAGE, INC. 10 6.68% $14,883
CMG MORTGAGE, INC. 10 7.06% $13,696
EVERETT FINANCIAL, INC. 9 6.72% $14,398
Bank of England 9 6.49% $13,167
ALLIED MORTGAGE GROUP, INC. 9 5.97% $12,146
AMERICAN FINANCIAL NETWORK, INC. 9 6.57% $16,035
Evolve Bank & Trust 8 6.44% $11,843
EMM LOANS LLC 8 6.28% $11,100
U.S. Bank 7 6.80% $10,250
ACADEMY MORTGAGE CORPORATION 7 7.02% $12,670
INTERSTATE HOME LOAN CENTER, INC. 7 6.57% $13,817
POLARIS HOME FUNDING CORP. 7 6.63% $13,169
SUN WEST MORTGAGE COMPANY, INC. 7 6.36% $11,754
PRIMARY RESIDENTIAL MORTGAGE, INC. 6 6.92% $14,440
Century Mortgage Company DBA Century Lending Company 6 6.81% $12,891
RELIANCE FIRST CAPITAL, LLC 6 6.58% $14,237
Plains Commerce Bank 6 6.29% $16,380
Semper Home Loans, Inc. 6 6.40% $12,171
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 7.00% $16,999
First Federal Bank 6 6.56% $12,966
T2 FINANCIAL LLC 6 7.25% $14,983
The Federal Savings Bank 5 6.33% $13,805
PLANET HOME LENDING, LLC 5 6.35% $10,591
Mortgage Research Center, LLC 5 7.50% $7,208
ZILLOW HOME LOANS, LLC 5 5.98% $14,350
NATIONWIDE MORTGAGE BANKERS, INC. 5 6.50% $21,880
AMERICAN FINANCIAL RESOURCES, INC. 5 6.55% $16,270
LAKEVIEW LOAN SERVICING, LLC 5 6.00% $11,315
LOANPAL, LLC 5 5.70% $12,813
RESIDENTIAL BANCORP 4 6.94% $13,463
Magnolia Bank 4 6.34% $17,282
The Washington Trust Company, of Westerly 4 6.09% $9,291
Waterstone Mortgage Corporation 4 6.88% $13,326
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 4 6.34% $17,450
NATIONS DIRECT MORTGAGE, LLC 3 7.13% $17,365
Barrington Bank & Trust Company, N.A. 3 6.42% $8,252
CONTOUR MORTGAGE CORPORATION 3 6.29% $16,474
East Coast Capital Corp. 3 6.38% $18,250
EMBRACE HOME LOANS, INC. 3 6.25% $11,634
FIRST MORTGAGE COMPANY, INC. 3 6.62% $17,519
Keystone Funding, Inc. 3 6.25% $14,274
NBKC BANK 3 6.38% $8,793
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.54% $14,359
Webster Bank 3 6.21% $8,175
Lakeview Community Capital, LLC 2 6.13% $11,878
JPMorgan Chase Bank 2 7.25% $6,075
BETTER MORTGAGE CORPORATION 2 5.81% $20,916
Shamrock Home Loans, Inc. 2 7.56% $11,693
Hometown Equity Mortgage, LLC 2 7.44% $14,273
Berkshire Bank 2 5.94% $9,221
EQUITY RESOURCES, INC. 2 6.75% $14,540
TD Bank 2 6.19% $7,025
BAYCOAST MORTGAGE COMPANY, LLC 2 5.81% $9,867
GUARANTEED RATE AFFINITY, LLC 2 6.50% $10,795
Bangor Savings Bank 2 6.75% $8,619
Thomaston Savings Bank 2 6.56% $10,559
TOP FLITE FINANCIAL, INC. 2 6.75% $14,813
Wells Fargo Bank 2 6.38% $5,882
UNION HOME MORTGAGE CORP. 2 7.19% $11,488
AMERICAN EAGLE FINANCIAL CREDIT UNION 2 7.06% $8,627
AmeriHome Mortgage Company, LLC 2 6.19% $10,683
HOMESIDE FINANCIAL, LLC 2 6.49% $13,237
CHURCHILL MORTGAGE CORPORATION 2 6.25% $13,034
VILLAGE CAPITAL MORTGAGE 2 5.82% $12,868
AMERICAN FINANCING CORPORATION 2 6.50% $10,124
OCMBC, INC. 2 7.75% $9,213
CANOPY MORTGAGE, LLC 2 6.31% $12,879
LENDING CAPITAL GROUP Inc 2 6.88% $15,916
GENEVA FINANCIAL, LLC 2 7.38% $9,969
The Huntington National Bank 1 6.63% $13,011
AmRes Corporation 1 7.00% $13,011
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 6.13% $13,501
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.38% $12,328
US MORTGAGE CORPORATION 1 6.75% $18,738
Allied First Bank,sb 1 7.25% $13,022
MLB RESIDENTIAL LENDING, LLC 1 6.50% $9,305
MORTGAGE 1 INCORPORATED 1 6.88% $11,632
LIBERTY HOME MORTGAGE CORPORATION 1 7.88% $21,680
MID AMERICA MORTGAGE, INC. 1 7.75% $10,189
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.63% $13,840
JET DIRECT FUNDING CORP 1 7.25% $13,063
ABSOLUTE HOME MORTGAGE CORPORATION 1 6.99% $14,837
NATIONS RELIABLE LENDING, LLC 1 7.25% $17,672
Newtown Savings Bank 1 6.00% $11,456
NFM, INC. 1 7.75% $13,511
NJ LENDERS CORP. 1 6.63% $8,850
Northpointe Bank 1 6.25% $11,754
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.50% $8,969
OCEANSIDE MORTGAGE COMPANY 1 5.63% $5,788
PANORAMA MORTGAGE GROUP, LLC 1 7.49% $13,626
FM Home Loans, LLC 1 5.13% $19,656
FIRST ALLIANCE HOME MORTGAGE, LLC 1 5.75% $11,938
Financial Funding Solutions, Inc. 1 6.99% $10,449
CONTINENTAL MORTGAGE BANKERS, INC. 1 6.38% $15,950
CLIFFCO, INC. 1 6.63% $17,672
Princeton Mortgage Corporation 1 6.75% $17,145
Centreville Bank 1 7.00% $14,459
RADIUS FINANCIAL GROUP INC. 1 7.75% $10,069
CALIBER HOME LOANS, INC. 1 6.75% $12,578
CALCON MUTUAL MORTGAGE LLC 1 6.00% $20,595
RESIDENTIAL HOME FUNDING CORP. 1 6.50% $11,758
SUMMIT FUNDING, INC. 1 6.13% $21,784
BAY-VALLEY MORTGAGE GROUP 1 6.63% $17,300

The top Hartford FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 253 FHA loans originated. Their average total fees are $11,443, which is $1,665 higher than the next largest lender, FIRST WORLD MORTGAGE CORPORATION.

The lowest fee Hartford FHA lenders (with over 10 loans originated) are Liberty Bank ($7,800), FIRST WORLD MORTGAGE CORPORATION ($9,778), ENVOY MORTGAGE, LTD ($10,036), HOMEBRIDGE FINANCIAL SERVICES, INC. ($10,129) and WILLIAM RAVEIS MORTGAGE, LLC ($10,314).

The lowest rate Hartford FHA lenders (with over 10 loans originated) are AMERISAVE MORTGAGE CORPORATION (5.81%), HOMEBRIDGE FINANCIAL SERVICES, INC. (6.03%), Liberty Bank (6.03%), CARDINAL FINANCIAL (6.07%) and Mr. Cooper ( Nationstar Mortgage ) (6.08%).

Hartford FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT HARTFORD 2022 $420,680 $538,650 $651,050 $809,150
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT MIDDLESEX 2022 $420,680 $538,650 $651,050 $809,150
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT TOLLAND 2022 $420,680 $538,650 $651,050 $809,150
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT HARTFORD 2023 $472,030 $604,400 $730,525 $907,900
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT MIDDLESEX 2023 $472,030 $604,400 $730,525 $907,900
HARTFORD-EAST HARTFORD-MIDDLETOWN, CT TOLLAND 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Hartford (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 $269,000 (3.7%) $350,200 (4.8%) 1.00 4,053
2018-02-01 $268,000 (1.2%) $349,138 (2.9%) 0.97 3,980
2018-03-01 $284,700 (4.6%) $356,309 (-0.7%) 1.00 4,184
2018-04-01 $289,450 (5.3%) $361,605 (-0.4%) 0.98 4,373
2018-05-01 $288,675 (2.2%) $362,284 (-0.6%) 0.96 4,806
2018-06-01 $289,900 (1.3%) $364,077 (-0.9%) 0.97 5,130
2018-07-01 $287,000 (2.5%) $357,618 (-3.1%) 0.96 5,446
2018-08-01 $283,675 (1.5%) $352,998 (-3.4%) 0.95 5,441
2018-09-01 $279,900 (0.0%) $349,346 (-2.9%) 0.94 5,530
2018-10-01 $279,900 (1.8%) $350,877 (-1.3%) 0.95 5,448
2018-11-01 $279,900 (1.8%) $352,294 (-0.5%) 0.95 5,185
2018-12-01 $274,900 (1.9%) $353,104 (0.1%) 0.95 4,663
2019-01-01 $274,475 (2.0%) $350,874 (0.2%) 0.95 4,162
2019-02-01 $279,900 (4.4%) $355,285 (1.8%) 0.95 4,030
2019-03-01 $286,329 (0.6%) $360,535 (1.2%) 0.94 4,061
2019-04-01 $296,950 (2.6%) $368,326 (1.9%) 0.94 4,139
2019-05-01 $299,900 (3.9%) $372,559 (2.8%) 0.94 4,467
2019-06-01 $304,900 (5.2%) $372,128 (2.2%) 0.95 4,723
2019-07-01 $299,450 (4.3%) $367,259 (2.7%) 0.94 4,894
2019-08-01 $298,714 (5.3%) $364,370 (3.2%) 0.95 4,889
2019-09-01 $298,284 (6.6%) $361,891 (3.6%) 0.95 4,892
2019-10-01 $298,523 (6.7%) $360,482 (2.7%) 0.96 4,836
2019-11-01 $290,000 (3.6%) $358,741 (1.8%) 0.95 4,409
2019-12-01 $289,900 (5.5%) $358,125 (1.4%) 0.97 3,817
2020-01-01 $285,000 (3.8%) $353,031 (0.6%) 0.95 3,318
2020-02-01 $289,900 (3.6%) $359,240 (1.1%) 0.95 3,141
2020-03-01 $307,263 (7.3%) $375,832 (4.2%) 0.96 3,117
2020-04-01 $309,900 (4.4%) $378,166 (2.7%) 0.97 2,999
2020-05-01 $324,900 (8.3%) $389,756 (4.6%) 0.99 2,863
2020-06-01 $332,400 (9.0%) $408,910 (9.9%) 0.98 2,730
2020-07-01 $343,950 (14.9%) $423,463 (15.3%) 1.00 2,500
2020-08-01 $345,000 (15.5%) $431,049 (18.3%) 0.99 2,338
2020-09-01 $339,900 (14.0%) $434,073 (20.0%) 0.97 2,355
2020-10-01 $339,900 (13.9%) $437,083 (21.3%) 0.97 2,367
2020-11-01 $339,900 (17.2%) $440,014 (22.7%) 0.99 2,225
2020-12-01 $340,000 (17.3%) $447,365 (24.9%) 1.01 1,919
2021-01-01 $343,727 (20.6%) $453,182 (28.4%) 1.03 1,526
2021-02-01 $352,450 (21.6%) $473,755 (31.9%) 1.03 1,265
2021-03-01 $354,100 (15.2%) $479,658 (27.6%) 1.00 1,272
2021-04-01 $359,900 (16.1%) $476,323 (26.0%) 0.97 1,319
2021-05-01 $349,900 (7.7%) $464,554 (19.2%) 0.93 1,401
2021-06-01 $342,450 (3.0%) $461,676 (12.9%) 0.90 1,608
2021-07-01 $335,000 (-2.6%) $451,669 (6.7%) 0.88 1,825
2021-08-01 $329,900 (-4.4%) $437,229 (1.4%) 0.88 1,919
2021-09-01 $331,675 (-2.4%) $435,081 (0.2%) 0.88 1,868
2021-10-01 $329,900 (-2.9%) $434,139 (-0.7%) 0.88 1,802
2021-11-01 $337,225 (-0.8%) $447,622 (1.7%) 0.90 1,499
2021-12-01 $346,425 (1.9%) $461,254 (3.1%) 0.94 1,217
2022-01-01 $349,900 (1.8%) $468,276 (3.3%) 0.95 992
2022-02-01 $362,450 (2.8%) $479,096 (1.1%) 0.94 871
2022-03-01 $349,950 (-1.2%) $466,921 (-2.7%) 0.88 901
2022-04-01 $349,900 (-2.8%) $462,121 (-3.0%) 0.83 1,029
2022-05-01 $362,450 (3.6%) $474,518 (2.2%) 0.83 1,192
2022-06-01 $370,000 (8.0%) $481,078 (4.2%) 0.82 1,360
2022-07-01 $379,000 (13.1%) $487,092 (7.8%) 0.85 1,525
2022-08-01 $373,675 (13.3%) $488,528 (11.7%) 0.86 1,461
2022-09-01 $372,475 (12.3%) $497,157 (14.3%) 0.87 1,336
2022-10-01 $375,000 (13.7%) $507,641 (16.9%) 0.88 1,336
2022-11-01 $372,400 (10.4%) $508,994 (13.7%) 0.90 1,263
2022-12-01 $365,000 (5.4%) $515,700 (11.8%) 0.90 1,059
2023-01-01 $372,500 (6.5%) $525,972 (12.3%) 0.92 851
2023-02-01 $396,400 (9.4%) $558,024 (16.5%) 0.96 794
2023-03-01 $402,900 (15.1%) $576,485 (23.5%) 0.95 748
2023-04-01 $399,900 (14.3%) $568,051 (22.9%) 0.93 839
2023-05-01 $424,900 (17.2%) $595,796 (25.6%) 0.96 883
2023-06-01 $434,450 (17.4%) $588,785 (22.4%) 0.98 980
2023-07-01 $435,000 (14.8%) $584,294 (20.0%) 0.99 1,012
2023-08-01 $399,900 (7.0%) $534,493 (9.4%) 0.92 1,043
2023-09-01 $399,900 (7.4%) $535,399 (7.7%) 0.93 1,100
2023-10-01 $399,900 (6.6%) $546,007 (7.6%) 0.94 1,106
2023-11-01 $398,450 (7.0%) $530,059 (4.1%) 0.95 1,125
2023-12-01 $389,900 (6.8%) $527,341 (2.3%) 0.95 903
2024-01-01 $393,700 (5.7%) $527,057 (0.2%) 0.96 808
2024-02-01 $399,900 (0.9%) $535,984 (-4.0%) 0.96 773
2024-03-01 $399,900 (-0.7%) $524,761 (-9.0%) 0.94 794
2024-04-01 $406,125 (1.6%) $537,279 (-5.4%) 0.94 858
Hartford's median listing price for 2024-04-01 was $406,125, a difference of $6,225 (1.6%) versus the prior year and $6,225 versus the prior month.

Hartford's median listing price comes in at 94% of the national average.

Hartford's average listing price for 2024-04-01 was $537,279, a difference of $-30,772 (-5.4%) versus the prior year and $12,518 versus the prior month.

For the 2024-04-01 period, Hartford had 858 MLS listings, a difference of 64 listings (8%) versus the prior month and 19 listings (2%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hartford (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 86 days 1,755 sqft
2018-02-01 80 days 1,743 sqft
2018-03-01 57 days 1,802 sqft
2018-04-01 52 days 1,822 sqft
2018-05-01 47 days 1,826 sqft
2018-06-01 49 days 1,845 sqft
2018-07-01 54 days 1,825 sqft
2018-08-01 61 days 1,803 sqft
2018-09-01 67 days 1,800 sqft
2018-10-01 69 days 1,800 sqft
2018-11-01 71 days 1,800 sqft
2018-12-01 80 days 1,783 sqft
2019-01-01 88 days 1,783 sqft
2019-02-01 86 days 1,800 sqft
2019-03-01 68 days 1,805 sqft
2019-04-01 47 days 1,822 sqft
2019-05-01 44 days 1,916 sqft
2019-06-01 47 days 2,003 sqft
2019-07-01 54 days 1,994 sqft
2019-08-01 58 days 1,990 sqft
2019-09-01 60 days 1,993 sqft
2019-10-01 63 days 1,998 sqft
2019-11-01 67 days 1,992 sqft
2019-12-01 77 days 1,969 sqft
2020-01-01 82 days 1,915 sqft
2020-02-01 71 days 1,938 sqft
2020-03-01 51 days 2,008 sqft
2020-04-01 58 days 2,002 sqft
2020-05-01 66 days 2,036 sqft
2020-06-01 48 days 2,082 sqft
2020-07-01 44 days 2,108 sqft
2020-08-01 41 days 2,098 sqft
2020-09-01 39 days 2,039 sqft
2020-10-01 37 days 2,006 sqft
2020-11-01 44 days 1,980 sqft
2020-12-01 57 days 1,991 sqft
2021-01-01 60 days 1,975 sqft
2021-02-01 51 days 1,978 sqft
2021-03-01 30 days 1,954 sqft
2021-04-01 23 days 1,988 sqft
2021-05-01 22 days 1,957 sqft
2021-06-01 22 days 1,916 sqft
2021-07-01 29 days 1,893 sqft
2021-08-01 29 days 1,745 sqft
2021-09-01 37 days 1,739 sqft
2021-10-01 35 days 1,704 sqft
2021-11-01 43 days 1,739 sqft
2021-12-01 50 days 1,732 sqft
2022-01-01 61 days 1,774 sqft
2022-02-01 31 days 1,774 sqft
2022-03-01 20 days 1,733 sqft
2022-04-01 15 days 1,702 sqft
2022-05-01 15 days 1,749 sqft
2022-06-01 17 days 1,788 sqft
2022-07-01 24 days 1,792 sqft
2022-08-01 32 days 1,928 sqft
2022-09-01 37 days 1,955 sqft
2022-10-01 32 days 1,966 sqft
2022-11-01 41 days 1,936 sqft
2022-12-01 55 days 1,918 sqft
2023-01-01 56 days 1,899 sqft
2023-02-01 34 days 1,974 sqft
2023-03-01 29 days 1,968 sqft
2023-04-01 21 days 1,984 sqft
2023-05-01 19 days 2,022 sqft
2023-06-01 18 days 2,030 sqft
2023-07-01 23 days 2,032 sqft
2023-08-01 37 days 1,921 sqft
2023-09-01 37 days 1,983 sqft
2023-10-01 37 days 1,950 sqft
2023-11-01 37 days 1,929 sqft
2023-12-01 45 days 1,862 sqft
2024-01-01 52 days 1,851 sqft
2024-02-01 41 days 1,855 sqft
2024-03-01 37 days 1,844 sqft
2024-04-01 30 days 1,720 sqft
Hartford's median listing age (time on market) for 2024-04-01 was 30 days. This is 43% longer than the same period one year ago.

Hartford's median square footage for active listings during the 2024-04-01 period was 1,720 sqft. One year prior, the average listing was 1,984 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).