Hudson FHA Loan Rates, Closing Costs & Stats

Hudson, NY

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.

Hudson's 18 lenders originated 65 FHA loans during 2023. The total origination value was $17,595,000, with an average FHA loan value of $270,692.

Hudson FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Hudson averaged 6.44% for the week of 2024-05-24, compared to the national average (all FHA variants) of 6.746% for the same period.

Hudson's average FHA mortgage closing costs are $7,409.

The average rate for the prior week (2024-05-17) was 6.64% and one month ago for the week of 2024-04-19, the average rate was 6.46%.

The average rate one year ago was 6.48%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.95%.

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

Hudson 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 Hudson level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 15 6.48% $10,980
HOMESTEAD FUNDING CORP. 15 6.53% $7,474
GUARANTEED RATE, INC. 9 6.65% $12,613
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.38% $18,989
SEFCU SERVICES, LLC 2 6.50% $10,895
NEWREZ LLC 2 5.50% $16,070
Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $13,473
PLAZA HOME MORTGAGE, INC. 1 7.38% $11,028
Premium Mortgage Corporation 1 7.13% $7,350
SUNMARK FEDERAL CREDIT UNION 1 5.75% $13,366
TOTAL MORTGAGE SERVICES, LLC 1 7.63% $13,171
CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $31,237
UNITED WHOLESALE MORTGAGE, LLC 1 6.75% $15,831
EMM LOANS LLC 1 6.13% $16,944
Equity Prime Mortgage LLC 1 6.13% $18,389
Fifth Third Bank 1 5.88% $10,131
FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.25% $19,672
Flagstar Bank, FSB 1 7.13% $12,826

The top Hudson FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 15 FHA loans originated. Their average total fees are $10,980, which is $3,507 higher than the next largest lender, HOMESTEAD FUNDING CORP..

The lowest fee Hudson FHA lenders (with over 10 loans originated) are HOMESTEAD FUNDING CORP. ($7,474), QUICKEN LOANS, LLC ($10,980), .

The lowest rate Hudson FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.48%), HOMESTEAD FUNDING CORP. (6.53%), .

Hudson FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
HUDSON, NY COLUMBIA 2022 $420,680 $538,650 $651,050 $809,150
HUDSON, NY COLUMBIA 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Hudson (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 $352,250 (1.6%) $605,509 (5.8%) 0.00 587
2018-02-01 $352,000 (2.4%) $623,289 (14.2%) 0.00 583
2018-03-01 $359,900 (4.5%) $630,169 (16.3%) 0.00 577
2018-04-01 $362,975 (6.0%) $644,180 (15.9%) 0.00 595
2018-05-01 $376,250 (9.0%) $670,203 (19.4%) 0.00 639
2018-06-01 $389,000 (8.5%) $671,451 (16.6%) 0.00 718
2018-07-01 $395,000 (12.9%) $678,360 (13.8%) 0.00 777
2018-08-01 $395,000 (12.9%) $674,875 (12.4%) 0.00 784
2018-09-01 $395,000 (12.9%) $665,022 (11.6%) 0.00 761
2018-10-01 $389,900 (10.7%) $651,156 (8.0%) 0.00 756
2018-11-01 $379,800 (6.0%) $644,686 (6.5%) 0.00 740
2018-12-01 $379,700 (7.0%) $647,148 (5.4%) 0.00 663
2019-01-01 $389,225 (10.5%) $651,452 (7.6%) 0.00 611
2019-02-01 $377,450 (7.2%) $640,309 (2.7%) 0.00 604
2019-03-01 $369,543 (2.7%) $625,810 (-0.7%) 0.00 615
2019-04-01 $369,000 (1.7%) $613,582 (-4.8%) 0.00 635
2019-05-01 $374,425 (-0.5%) $608,987 (-9.1%) 0.00 689
2019-06-01 $380,000 (-2.3%) $632,222 (-5.8%) 0.00 744
2019-07-01 $392,000 (-0.8%) $633,840 (-6.6%) 0.00 773
2019-08-01 $395,000 (0.0%) $636,164 (-5.7%) 0.00 771
2019-09-01 $395,000 (0.0%) $641,848 (-3.5%) 0.00 751
2019-10-01 $395,000 (1.3%) $644,574 (-1.0%) 0.00 734
2019-11-01 $392,400 (3.3%) $638,316 (-1.0%) 0.00 678
2019-12-01 $394,950 (4.0%) $661,974 (2.3%) 0.00 601
2020-01-01 $389,450 (0.1%) $675,434 (3.7%) 0.00 538
2020-02-01 $399,000 (5.7%) $691,037 (7.9%) 0.00 523
2020-03-01 $425,000 (15.0%) $703,043 (12.3%) 0.00 526
2020-04-01 $427,000 (15.7%) $696,890 (13.6%) 0.00 520
2020-05-01 $449,000 (19.9%) $712,727 (17.0%) 0.00 497
2020-06-01 $497,000 (30.8%) $792,093 (25.3%) 0.00 500
2020-07-01 $499,200 (27.4%) $788,641 (24.4%) 0.00 505
2020-08-01 $525,000 (32.9%) $845,828 (33.0%) 0.00 480
2020-09-01 $499,000 (26.3%) $854,206 (33.1%) 0.00 503
2020-10-01 $495,000 (25.3%) $849,866 (31.9%) 0.00 525
2020-11-01 $499,000 (27.2%) $861,601 (35.0%) 0.00 488
2020-12-01 $500,000 (26.6%) $920,707 (39.1%) 0.00 443
2021-01-01 $525,000 (34.8%) $965,672 (43.0%) 0.00 396
2021-02-01 $562,500 (41.0%) $980,101 (41.8%) 0.00 360
2021-03-01 $559,991 (31.8%) $996,701 (41.8%) 0.00 334
2021-04-01 $575,000 (34.7%) $1,019,567 (46.3%) 0.00 319
2021-05-01 $560,000 (24.7%) $965,598 (35.5%) 0.00 327
2021-06-01 $544,225 (9.5%) $889,658 (12.3%) 0.00 352
2021-07-01 $499,450 (0.1%) $818,556 (3.8%) 0.00 320
2021-08-01 $495,000 (-5.7%) $814,920 (-3.7%) 0.00 326
2021-09-01 $495,000 (-0.8%) $809,490 (-5.2%) 0.00 310
2021-10-01 $499,000 (0.8%) $836,418 (-1.6%) 0.00 304
2021-11-01 $495,000 (-0.8%) $823,331 (-4.4%) 0.00 287
2021-12-01 $489,000 (-2.2%) $807,895 (-12.3%) 0.00 266
2022-01-01 $495,000 (-5.7%) $860,897 (-10.9%) 0.00 224
2022-02-01 $538,475 (-4.3%) $995,809 (1.6%) 0.00 175
2022-03-01 $562,000 (0.4%) $985,476 (-1.1%) 0.00 175
2022-04-01 $549,000 (-4.5%) $982,841 (-3.6%) 0.00 166
2022-05-01 $552,200 (-1.4%) $928,247 (-3.9%) 0.00 192
2022-06-01 $593,150 (9.0%) $965,195 (8.5%) 0.00 238
2022-07-01 $596,850 (19.5%) $1,020,308 (24.7%) 0.00 288
2022-08-01 $599,500 (21.1%) $1,053,116 (29.2%) 0.00 274
2022-09-01 $586,000 (18.4%) $1,028,018 (27.0%) 0.00 287
2022-10-01 $599,900 (20.2%) $1,034,099 (23.6%) 0.00 288
2022-11-01 $641,250 (29.6%) $1,079,672 (31.1%) 0.00 267
2022-12-01 $599,900 (22.7%) $1,065,128 (31.8%) 0.00 235
2023-01-01 $587,250 (18.6%) $998,062 (15.9%) 0.00 201
2023-02-01 $639,950 (18.8%) $1,061,088 (6.6%) 0.00 191
2023-03-01 $599,000 (6.6%) $1,038,697 (5.4%) 0.00 193
2023-04-01 $665,000 (21.1%) $1,144,247 (16.4%) 0.00 199
2023-05-01 $749,000 (35.6%) $1,155,104 (24.4%) 0.00 217
2023-06-01 $795,000 (34.0%) $1,285,446 (33.2%) 0.00 236
2023-07-01 $739,999 (24.0%) $1,274,717 (24.9%) 0.00 264
2023-08-01 $670,750 (11.9%) $1,200,085 (14.0%) 0.00 301
2023-09-01 $664,500 (13.4%) $1,137,010 (10.6%) 0.00 315
2023-10-01 $675,000 (12.5%) $1,146,488 (10.9%) 0.00 325
2023-11-01 $638,000 (-0.5%) $1,153,554 (6.8%) 0.00 322
2023-12-01 $595,000 (-0.8%) $1,135,399 (6.6%) 0.00 286
2024-01-01 $595,000 (1.3%) $1,122,171 (12.4%) 0.00 233
2024-02-01 $588,500 (-8.0%) $1,151,360 (8.5%) 0.00 220
2024-03-01 $575,000 (-4.0%) $1,122,916 (8.1%) 0.00 225
2024-04-01 $579,175 (-12.9%) $1,043,546 (-8.8%) 0.00 237
Hudson's median listing price for 2024-04-01 was $579,175, a difference of $-85,825 (-12.9%) versus the prior year and $4,175 versus the prior month.

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

Hudson's average listing price for 2024-04-01 was $1,043,546, a difference of $-100,701 (-8.8%) versus the prior year and $-79,370 versus the prior month.

For the 2024-04-01 period, Hudson had 237 MLS listings, a difference of 12 listings (5%) versus the prior month and 38 listings (19%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Hudson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,100 sqft
2018-02-01 0 days 2,073 sqft
2018-03-01 0 days 2,040 sqft
2018-04-01 0 days 2,076 sqft
2018-05-01 0 days 2,198 sqft
2018-06-01 0 days 2,214 sqft
2018-07-01 0 days 2,219 sqft
2018-08-01 0 days 2,203 sqft
2018-09-01 0 days 2,244 sqft
2018-10-01 0 days 2,243 sqft
2018-11-01 0 days 2,217 sqft
2018-12-01 0 days 2,202 sqft
2019-01-01 0 days 2,237 sqft
2019-02-01 0 days 2,205 sqft
2019-03-01 0 days 2,165 sqft
2019-04-01 0 days 2,125 sqft
2019-05-01 0 days 2,143 sqft
2019-06-01 0 days 2,145 sqft
2019-07-01 0 days 2,118 sqft
2019-08-01 0 days 2,123 sqft
2019-09-01 0 days 2,130 sqft
2019-10-01 0 days 2,143 sqft
2019-11-01 0 days 2,126 sqft
2019-12-01 0 days 2,145 sqft
2020-01-01 0 days 2,134 sqft
2020-02-01 0 days 2,164 sqft
2020-03-01 0 days 2,210 sqft
2020-04-01 0 days 2,227 sqft
2020-05-01 0 days 2,300 sqft
2020-06-01 0 days 2,349 sqft
2020-07-01 0 days 2,361 sqft
2020-08-01 0 days 2,400 sqft
2020-09-01 0 days 2,400 sqft
2020-10-01 0 days 2,300 sqft
2020-11-01 0 days 2,274 sqft
2020-12-01 0 days 2,345 sqft
2021-01-01 0 days 2,376 sqft
2021-02-01 0 days 2,365 sqft
2021-03-01 0 days 2,340 sqft
2021-04-01 0 days 2,345 sqft
2021-05-01 0 days 2,273 sqft
2021-06-01 0 days 2,240 sqft
2021-07-01 0 days 2,100 sqft
2021-08-01 0 days 2,082 sqft
2021-09-01 0 days 2,017 sqft
2021-10-01 0 days 2,080 sqft
2021-11-01 0 days 2,094 sqft
2021-12-01 0 days 2,114 sqft
2022-01-01 0 days 2,173 sqft
2022-02-01 0 days 2,181 sqft
2022-03-01 0 days 2,231 sqft
2022-04-01 0 days 2,240 sqft
2022-05-01 0 days 2,068 sqft
2022-06-01 0 days 2,076 sqft
2022-07-01 0 days 2,160 sqft
2022-08-01 0 days 2,133 sqft
2022-09-01 0 days 2,106 sqft
2022-10-01 0 days 2,112 sqft
2022-11-01 0 days 2,190 sqft
2022-12-01 0 days 2,150 sqft
2023-01-01 0 days 2,101 sqft
2023-02-01 0 days 2,147 sqft
2023-03-01 0 days 2,030 sqft
2023-04-01 0 days 2,100 sqft
2023-05-01 0 days 2,271 sqft
2023-06-01 0 days 2,315 sqft
2023-07-01 0 days 2,239 sqft
2023-08-01 0 days 2,209 sqft
2023-09-01 0 days 2,200 sqft
2023-10-01 0 days 2,229 sqft
2023-11-01 0 days 2,121 sqft
2023-12-01 0 days 2,135 sqft
2024-01-01 0 days 2,117 sqft
2024-02-01 0 days 2,118 sqft
2024-03-01 0 days 1,960 sqft
2024-04-01 0 days 1,970 sqft
Hudson's median listing age (time on market) for 2024-04-01 was 0 days.

Hudson's median square footage for active listings during the 2024-04-01 period was 1,970 sqft. One year prior, the average listing was 2,100 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).