Keene FHA Loan Rates, Closing Costs & Stats

Keene, NH

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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.

    Keene's 45 lenders originated 126 FHA loans during 2023. The total origination value was $33,410,000, with an average FHA loan value of $265,159.

    Keene FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Keene averaged 6.99% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Keene's average FHA mortgage closing costs are $7,449.

    The average rate for the prior week (2024-04-12) was 6.88% and one month ago for the week of 2024-03-15, the average rate was 6.85%.

    The average rate one year ago was 6.17%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Keene 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 Keene level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 19 6.02% $11,756
    CMG MORTGAGE, INC. 15 6.84% $10,350
    MOVEMENT MORTGAGE, LLC 8 6.84% $9,089
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.80% $10,859
    ENVOY MORTGAGE, LTD 4 6.81% $9,901
    HARBORONE MORTGAGE, LLC 4 6.50% $9,451
    CROSSCOUNTRY MORTGAGE, LLC 3 6.91% $10,246
    EMM LOANS LLC 3 6.46% $9,816
    EVERETT FINANCIAL, INC. 3 6.96% $12,141
    UNITED WHOLESALE MORTGAGE, LLC 2 7.31% $15,250
    Nations Lending Corporation 2 6.75% $8,621
    LEADERONE FINANCIAL CORPORATION 2 6.44% $10,527
    AMERISAVE MORTGAGE CORPORATION 2 5.63% $14,413
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.25% $8,070
    Keystone Funding, Inc. 2 6.94% $10,374
    TOTAL MORTGAGE SERVICES, LLC 2 6.19% $13,158
    MID-ISLAND MORTGAGE CORP. 1 6.50% $6,624
    Mortgage Research Center, LLC 1 7.63% $12,735
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $12,514
    NEWREZ LLC 1 7.25% $18,911
    PLANET HOME LENDING, LLC 1 5.38% $6,698
    PLAZA HOME MORTGAGE, INC. 1 7.25% $13,884
    POLARIS HOME FUNDING CORP. 1 7.13% $13,629
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $12,326
    RELIANCE FIRST CAPITAL, LLC 1 7.13% $8,042
    Ross Mortgage Company, Inc. 1 7.75% $10,469
    The Federal Savings Bank 1 6.88% $14,626
    U.S. Bank 1 7.25% $8,202
    AMERICAN FINANCIAL NETWORK, INC. 1 6.50% $28,377
    Waterstone Mortgage Corporation 1 7.13% $12,441
    AMERICAN FINANCING CORPORATION 1 7.25% $18,587
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $9,332
    BROKER SOLUTIONS, INC. 1 7.25% $17,013
    CARDINAL FINANCIAL 1 6.63% $21,746
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $17,128
    Flagstar Bank, FSB 1 7.13% $12,537
    FREEDOM MORTGAGE CORPORATION 1 7.25% $11,884
    GUARANTEED RATE AFFINITY, LLC 1 7.13% $16,234
    GUARANTEED RATE, INC. 1 6.25% $17,677
    GUILD MORTGAGE COMPANY 1 6.63% $7,211
    HOMESTEAD FUNDING CORP. 1 6.75% $8,779
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $13,580
    LIBERTY HOME MORTGAGE CORPORATION 1 7.00% $11,566
    LOANDEPOT.COM, LLC 1 6.25% $10,950
    Magnolia Bank 1 7.13% $6,574

    The top Keene FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 19 FHA loans originated. Their average total fees are $11,756, which is $1,405 higher than the next largest lender, CMG MORTGAGE, INC..

    The lowest fee Keene FHA lenders (with over 10 loans originated) are CMG MORTGAGE, INC. ($10,350), QUICKEN LOANS, LLC ($11,756), .

    The lowest rate Keene FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.02%), CMG MORTGAGE, INC. (6.84%), .

    Keene FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Keene (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 $239,675 (6.8%) $304,574 (1.6%) 0.00 286
    2018-02-01 $242,950 (7.3%) $317,503 (3.2%) 0.00 263
    2018-03-01 $249,000 (10.8%) $327,564 (4.1%) 0.00 276
    2018-04-01 $248,181 (3.7%) $320,513 (1.4%) 0.00 296
    2018-05-01 $243,750 (-1.9%) $323,228 (5.2%) 0.00 329
    2018-06-01 $249,900 (1.4%) $323,364 (6.3%) 0.00 385
    2018-07-01 $249,900 (2.0%) $320,331 (6.6%) 0.00 403
    2018-08-01 $249,900 (4.4%) $324,342 (9.2%) 0.00 424
    2018-09-01 $259,000 (7.2%) $323,360 (5.4%) 0.00 433
    2018-10-01 $257,400 (8.4%) $320,322 (5.7%) 0.00 429
    2018-11-01 $249,948 (8.9%) $319,472 (8.0%) 0.00 390
    2018-12-01 $249,000 (8.3%) $313,163 (5.2%) 0.00 338
    2019-01-01 $249,950 (4.3%) $322,488 (5.9%) 0.00 302
    2019-02-01 $249,950 (2.9%) $319,901 (0.8%) 0.00 279
    2019-03-01 $252,857 (1.6%) $317,756 (-3.0%) 0.00 264
    2019-04-01 $255,857 (3.1%) $323,033 (0.8%) 0.00 263
    2019-05-01 $274,950 (12.8%) $335,610 (3.8%) 0.00 279
    2019-06-01 $269,450 (7.8%) $335,797 (3.8%) 0.00 307
    2019-07-01 $271,853 (8.8%) $342,589 (7.0%) 0.00 341
    2019-08-01 $267,895 (7.2%) $333,203 (2.7%) 0.00 345
    2019-09-01 $266,239 (2.8%) $334,065 (3.3%) 0.00 344
    2019-10-01 $265,909 (3.3%) $335,994 (4.9%) 0.00 338
    2019-11-01 $269,000 (7.6%) $338,057 (5.8%) 0.00 309
    2019-12-01 $271,475 (9.0%) $339,923 (8.6%) 0.00 231
    2020-01-01 $274,850 (10.0%) $336,025 (4.2%) 0.00 192
    2020-02-01 $279,250 (11.7%) $343,075 (7.2%) 0.00 177
    2020-03-01 $297,225 (17.6%) $363,521 (14.4%) 0.00 176
    2020-04-01 $299,900 (17.2%) $377,836 (17.0%) 0.00 170
    2020-05-01 $289,900 (5.4%) $369,640 (10.1%) 0.00 177
    2020-06-01 $297,875 (10.6%) $374,077 (11.4%) 0.00 157
    2020-07-01 $292,450 (7.6%) $381,956 (11.5%) 0.00 159
    2020-08-01 $285,000 (6.4%) $383,964 (15.2%) 0.00 159
    2020-09-01 $294,900 (10.8%) $380,726 (14.0%) 0.00 156
    2020-10-01 $314,950 (18.4%) $402,301 (19.7%) 0.00 130
    2020-11-01 $302,100 (12.3%) $416,186 (23.1%) 0.00 97
    2020-12-01 $296,125 (9.1%) $401,252 (18.0%) 0.00 91
    2021-01-01 $296,750 (8.0%) $415,717 (23.7%) 0.00 59
    2021-02-01 $286,125 (2.5%) $423,942 (23.6%) 0.00 56
    2021-03-01 $306,968 (3.3%) $437,030 (20.2%) 0.00 57
    2021-04-01 $298,000 (-0.6%) $428,869 (13.5%) 0.00 81
    2021-05-01 $299,450 (3.3%) $391,402 (5.9%) 0.00 97
    2021-06-01 $316,225 (6.2%) $379,283 (1.4%) 0.00 122
    2021-07-01 $310,000 (6.0%) $409,311 (7.2%) 0.00 140
    2021-08-01 $309,675 (8.7%) $447,812 (16.6%) 0.00 152
    2021-09-01 $317,500 (7.7%) $496,727 (30.5%) 0.00 149
    2021-10-01 $327,000 (3.8%) $503,693 (25.2%) 0.00 110
    2021-11-01 $299,900 (-0.7%) $491,116 (18.0%) 0.00 84
    2021-12-01 $299,950 (1.3%) $482,112 (20.2%) 0.00 66
    2022-01-01 $299,000 (0.8%) $526,620 (26.7%) 0.00 39
    2022-02-01 $284,450 (-0.6%) $495,401 (16.9%) 0.00 52
    2022-03-01 $326,950 (6.5%) $532,085 (21.8%) 0.00 45
    2022-04-01 $344,450 (15.6%) $474,042 (10.5%) 0.00 56
    2022-05-01 $353,250 (18.0%) $478,061 (22.1%) 0.00 83
    2022-06-01 $349,900 (10.7%) $465,685 (22.8%) 0.00 102
    2022-07-01 $365,000 (17.7%) $468,665 (14.5%) 0.00 117
    2022-08-01 $364,950 (17.9%) $465,862 (4.0%) 0.00 131
    2022-09-01 $373,500 (17.6%) $485,322 (-2.3%) 0.00 122
    2022-10-01 $360,000 (10.1%) $466,574 (-7.4%) 0.00 133
    2022-11-01 $354,975 (18.4%) $481,699 (-1.9%) 0.00 116
    2022-12-01 $389,900 (30.0%) $490,560 (1.8%) 0.00 94
    2023-01-01 $394,250 (31.9%) $503,123 (-4.5%) 0.00 71
    2023-02-01 $394,125 (38.6%) $494,699 (-0.1%) 0.00 65
    2023-03-01 $364,950 (11.6%) $474,659 (-10.8%) 0.00 58
    2023-04-01 $399,900 (16.1%) $511,921 (8.0%) 0.00 69
    2023-05-01 $449,950 (27.4%) $531,921 (11.3%) 0.00 71
    2023-06-01 $434,500 (24.2%) $521,625 (12.0%) 0.00 77
    2023-07-01 $449,000 (23.0%) $554,525 (18.3%) 0.00 93
    2023-08-01 $477,475 (30.8%) $578,589 (24.2%) 0.00 94
    2023-09-01 $455,000 (21.8%) $559,733 (15.3%) 0.00 101
    2023-10-01 $475,000 (31.9%) $563,981 (20.9%) 0.00 106
    2023-11-01 $434,750 (22.5%) $530,213 (10.1%) 0.00 96
    2023-12-01 $417,450 (7.1%) $506,010 (3.2%) 0.00 87
    2024-01-01 $449,475 (14.0%) $542,032 (7.7%) 0.00 83
    2024-02-01 $456,975 (16.0%) $544,299 (10.0%) 0.00 79
    2024-03-01 $445,000 (21.9%) $560,016 (18.0%) 0.00 68
    Keene's median listing price for 2024-03-01 was $445,000, a difference of $80,050 (21.9%) versus the prior year and $-11,975 versus the prior month.

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

    Keene's average listing price for 2024-03-01 was $560,016, a difference of $85,357 (18.0%) versus the prior year and $15,717 versus the prior month.

    For the 2024-03-01 period, Keene had 68 MLS listings, a difference of -11 listings (-14%) versus the prior month and 10 listings (17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Keene (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,858 sqft
    2018-02-01 0 days 1,901 sqft
    2018-03-01 0 days 1,957 sqft
    2018-04-01 0 days 1,910 sqft
    2018-05-01 0 days 1,877 sqft
    2018-06-01 0 days 1,860 sqft
    2018-07-01 0 days 1,913 sqft
    2018-08-01 0 days 1,900 sqft
    2018-09-01 0 days 1,857 sqft
    2018-10-01 0 days 1,843 sqft
    2018-11-01 0 days 1,870 sqft
    2018-12-01 0 days 1,836 sqft
    2019-01-01 0 days 1,845 sqft
    2019-02-01 0 days 1,863 sqft
    2019-03-01 0 days 1,915 sqft
    2019-04-01 0 days 1,959 sqft
    2019-05-01 0 days 1,977 sqft
    2019-06-01 0 days 1,996 sqft
    2019-07-01 0 days 2,060 sqft
    2019-08-01 0 days 2,003 sqft
    2019-09-01 0 days 1,973 sqft
    2019-10-01 0 days 1,968 sqft
    2019-11-01 0 days 1,930 sqft
    2019-12-01 0 days 1,912 sqft
    2020-01-01 0 days 1,916 sqft
    2020-02-01 0 days 1,963 sqft
    2020-03-01 0 days 2,025 sqft
    2020-04-01 0 days 2,050 sqft
    2020-05-01 0 days 1,949 sqft
    2020-06-01 0 days 2,065 sqft
    2020-07-01 0 days 2,050 sqft
    2020-08-01 0 days 1,988 sqft
    2020-09-01 0 days 1,903 sqft
    2020-10-01 0 days 2,094 sqft
    2020-11-01 0 days 2,172 sqft
    2020-12-01 0 days 1,989 sqft
    2021-01-01 0 days 2,072 sqft
    2021-02-01 0 days 1,943 sqft
    2021-03-01 0 days 2,035 sqft
    2021-04-01 0 days 1,856 sqft
    2021-05-01 0 days 1,623 sqft
    2021-06-01 0 days 1,792 sqft
    2021-07-01 0 days 1,768 sqft
    2021-08-01 0 days 1,843 sqft
    2021-09-01 0 days 1,915 sqft
    2021-10-01 0 days 1,949 sqft
    2021-11-01 0 days 1,858 sqft
    2021-12-01 0 days 1,852 sqft
    2022-01-01 0 days 1,779 sqft
    2022-02-01 0 days 1,754 sqft
    2022-03-01 0 days 1,867 sqft
    2022-04-01 0 days 1,856 sqft
    2022-05-01 0 days 1,850 sqft
    2022-06-01 0 days 1,705 sqft
    2022-07-01 0 days 1,728 sqft
    2022-08-01 0 days 1,769 sqft
    2022-09-01 0 days 1,671 sqft
    2022-10-01 0 days 1,767 sqft
    2022-11-01 0 days 1,858 sqft
    2022-12-01 0 days 1,887 sqft
    2023-01-01 0 days 1,970 sqft
    2023-02-01 0 days 1,877 sqft
    2023-03-01 0 days 1,683 sqft
    2023-04-01 0 days 1,754 sqft
    2023-05-01 0 days 1,846 sqft
    2023-06-01 0 days 1,906 sqft
    2023-07-01 0 days 1,878 sqft
    2023-08-01 0 days 1,980 sqft
    2023-09-01 0 days 2,018 sqft
    2023-10-01 0 days 2,007 sqft
    2023-11-01 0 days 1,872 sqft
    2023-12-01 0 days 1,873 sqft
    2024-01-01 0 days 1,935 sqft
    2024-02-01 0 days 1,903 sqft
    2024-03-01 0 days 1,935 sqft
    Keene's median listing age (time on market) for 2024-03-01 was 0 days.

    Keene's median square footage for active listings during the 2024-03-01 period was 1,935 sqft. One year prior, the average listing was 1,683 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).