Laconia FHA Loan Rates, Closing Costs & Stats

Laconia, 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.

    Laconia's 46 lenders originated 136 FHA loans during 2022. The total origination value was $38,540,000, with an average FHA loan value of $283,382.

    Laconia FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Laconia averaged 6.17% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

    Laconia's average FHA mortgage closing costs are $7,362.

    The average rate for the prior week (2023-05-19) was 5.95% and one month ago for the week of 2023-04-21, the average rate was 6.09%.

    The average rate one year ago was 5.21%.

    For refis of the same type during the week of 2023-05-26, the average rate was 4.81%.

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

    Laconia 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 Laconia level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 15 4.32% $11,621
    EVERETT FINANCIAL, INC. 10 5.31% $7,552
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 5.77% $10,229
    UNITED WHOLESALE MORTGAGE, LLC 7 4.28% $9,812
    GUILD MORTGAGE COMPANY 7 5.84% $9,013
    LOANDEPOT.COM, LLC 4 5.72% $12,187
    CMG MORTGAGE, INC. 4 5.13% $8,711
    EMM LOANS LLC 4 5.94% $12,726
    BROKER SOLUTIONS, INC. 3 5.75% $11,193
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 5.46% $10,108
    AMERISAVE MORTGAGE CORPORATION 3 2.92% $13,194
    LAKEVIEW LOAN SERVICING, LLC 3 3.96% $6,882
    PENNYMAC LOAN SERVICES, LLC 3 5.46% $10,781
    MOVEMENT MORTGAGE, LLC 2 4.75% $9,787
    Mr. Cooper ( Nationstar Mortgage ) 2 4.50% $17,975
    American Mortgage & Equity Consultants, Inc. 2 5.75% $14,173
    CROSSCOUNTRY MORTGAGE, LLC 2 5.06% $12,288
    HOME POINT FINANCIAL CORPORATION 2 3.94% $13,291
    HARBORONE MORTGAGE, LLC 2 6.50% $8,095
    Sierra Pacific Mortgage Company, Inc. 2 5.38% $13,342
    FREEDOM MORTGAGE CORPORATION 2 5.75% $13,600
    ENVOY MORTGAGE, LTD 2 4.56% $13,912
    NEWREZ LLC 2 5.31% $9,171
    Mortgage Network, Inc. 1 4.13% $7,965
    Mortgage Research Center, LLC 1 5.99% $12,259
    NATIONS RELIABLE LENDING, LLC 1 6.13% $16,161
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.25% $8,202
    NBKC BANK 1 4.88% $6,172
    NEW DAY FINANCIAL, LLC 1 3.88% $4,084
    OCEANSIDE MORTGAGE COMPANY 1 4.88% $5,347
    Paramount Residential Mortgage Group, Inc. 1 4.38% $8,482
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.99% $8,671
    BAY EQUITY LLC 1 4.63% $20,356
    RELIANCE FIRST CAPITAL, LLC 1 5.00% $12,846
    TOTAL MORTGAGE SERVICES, LLC 1 5.13% $16,178
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.63% $7,363
    Equity Prime Mortgage LLC 1 6.63% $14,452
    First Guaranty Mortgage Corporation 1 4.25% $12,405
    FIRST MORTGAGE COMPANY, INC. 1 5.38% $10,703
    Carrington Mortgage Services, LLC 1 5.63% $8,736
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 4.38% $10,464
    Home Loan Investment Bank, F.S.B. 1 3.00% $9,343
    HOMESIDE FINANCIAL, LLC 1 4.75% $13,776
    UNITED MORTGAGE CORP. 1 4.50% $9,006
    LEADERONE FINANCIAL CORPORATION 1 3.99% $16,116
    AMERICAN FINANCING CORPORATION 1 6.75% $7,271

    The top Laconia FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 15 FHA loans originated. Their average total fees are $11,621, which is $4,069 higher than the next largest lender, EVERETT FINANCIAL, INC..

    The lowest fee Laconia FHA lenders (with over 10 loans originated) are EVERETT FINANCIAL, INC. ($7,552), QUICKEN LOANS, LLC ($11,621), .

    The lowest rate Laconia FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.32%), EVERETT FINANCIAL, INC. (5.31%), .

    Laconia FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Laconia (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 $284,450 (5.4%) $542,023 (-15.8%) 0.00 329
    2018-02-01 $299,900 (11.1%) $558,764 (-12.2%) 0.00 319
    2018-03-01 $302,400 (12.0%) $561,448 (-12.6%) 0.00 334
    2018-04-01 $309,450 (14.6%) $572,743 (-8.8%) 0.00 382
    2018-05-01 $317,950 (15.8%) $657,523 (7.3%) 0.00 465
    2018-06-01 $329,900 (14.9%) $646,106 (5.2%) 0.00 523
    2018-07-01 $333,725 (13.6%) $614,175 (1.7%) 0.00 558
    2018-08-01 $329,900 (10.3%) $618,211 (4.0%) 0.00 545
    2018-09-01 $319,450 (6.5%) $589,377 (4.2%) 0.00 564
    2018-10-01 $313,925 (4.7%) $582,567 (-1.3%) 0.00 549
    2018-11-01 $304,900 (1.7%) $580,662 (-4.5%) 0.00 491
    2018-12-01 $299,000 (-0.2%) $593,492 (-2.2%) 0.00 419
    2019-01-01 $299,900 (5.4%) $609,097 (12.4%) 0.00 365
    2019-02-01 $299,900 (0.0%) $557,802 (-0.2%) 0.00 336
    2019-03-01 $304,500 (0.7%) $599,375 (6.8%) 0.00 318
    2019-04-01 $309,500 (0.0%) $593,635 (3.7%) 0.00 361
    2019-05-01 $337,950 (6.3%) $626,508 (-4.7%) 0.00 408
    2019-06-01 $334,500 (1.4%) $574,861 (-11.0%) 0.00 457
    2019-07-01 $325,000 (-2.6%) $548,052 (-10.8%) 0.00 514
    2019-08-01 $325,000 (-1.5%) $552,315 (-10.7%) 0.00 518
    2019-09-01 $322,500 (1.0%) $557,156 (-5.5%) 0.00 482
    2019-10-01 $327,000 (4.2%) $557,048 (-4.4%) 0.00 462
    2019-11-01 $324,900 (6.6%) $522,506 (-10.0%) 0.00 384
    2019-12-01 $317,400 (6.2%) $518,350 (-12.7%) 0.00 288
    2020-01-01 $307,400 (2.5%) $560,413 (-8.0%) 0.00 240
    2020-02-01 $314,450 (4.9%) $573,569 (2.8%) 0.00 213
    2020-03-01 $295,750 (-2.9%) $534,751 (-10.8%) 0.00 236
    2020-04-01 $299,974 (-3.1%) $528,327 (-11.0%) 0.00 280
    2020-05-01 $322,500 (-4.6%) $592,913 (-5.4%) 0.00 261
    2020-06-01 $359,450 (7.5%) $643,573 (12.0%) 0.00 231
    2020-07-01 $377,000 (16.0%) $774,214 (41.3%) 0.00 196
    2020-08-01 $375,000 (15.4%) $753,098 (36.4%) 0.00 193
    2020-09-01 $365,250 (13.3%) $638,756 (14.7%) 0.00 193
    2020-10-01 $364,500 (11.5%) $620,655 (11.4%) 0.00 191
    2020-11-01 $344,500 (6.0%) $579,888 (11.0%) 0.00 172
    2020-12-01 $339,000 (6.8%) $568,656 (9.7%) 0.00 129
    2021-01-01 $332,000 (8.0%) $479,605 (-14.4%) 0.00 92
    2021-02-01 $342,450 (8.9%) $520,744 (-9.2%) 0.00 77
    2021-03-01 $397,175 (34.3%) $655,693 (22.6%) 0.00 90
    2021-04-01 $399,900 (33.3%) $665,481 (26.0%) 0.00 109
    2021-05-01 $425,000 (31.8%) $683,918 (15.4%) 0.00 127
    2021-06-01 $446,175 (24.1%) $696,642 (8.3%) 0.00 144
    2021-07-01 $449,900 (19.3%) $689,140 (-11.0%) 0.00 167
    2021-08-01 $442,413 (18.0%) $707,959 (-6.0%) 0.00 182
    2021-09-01 $444,675 (21.8%) $726,822 (13.8%) 0.00 167
    2021-10-01 $429,950 (18.0%) $722,510 (16.4%) 0.00 157
    2021-11-01 $429,450 (24.7%) $735,103 (26.8%) 0.00 138
    2021-12-01 $432,225 (27.5%) $840,959 (47.9%) 0.00 100
    2022-01-01 $431,450 (30.0%) $873,190 (82.1%) 0.00 76
    2022-02-01 $469,950 (37.2%) $946,247 (81.7%) 0.00 68
    2022-03-01 $480,000 (20.9%) $937,536 (43.0%) 0.00 64
    2022-04-01 $505,000 (26.3%) $892,425 (34.1%) 0.00 90
    2022-05-01 $536,200 (26.2%) $810,001 (18.4%) 0.00 131
    2022-06-01 $592,450 (32.8%) $829,647 (19.1%) 0.00 172
    2022-07-01 $550,000 (22.3%) $986,809 (43.2%) 0.00 215
    2022-08-01 $563,675 (27.4%) $978,897 (38.3%) 0.00 209
    2022-09-01 $562,000 (26.4%) $1,034,757 (42.4%) 0.00 199
    2022-10-01 $529,950 (23.3%) $1,010,160 (39.8%) 0.00 209
    2022-11-01 $527,500 (22.8%) $997,324 (35.7%) 0.00 200
    2022-12-01 $524,950 (21.5%) $1,062,579 (26.4%) 0.00 151
    2023-01-01 $591,725 (37.2%) $1,256,400 (43.9%) 0.00 110
    2023-02-01 $599,450 (27.6%) $1,350,117 (42.7%) 0.00 112
    2023-03-01 $609,900 (27.1%) $1,298,291 (38.5%) 0.00 109
    2023-04-01 $609,000 (20.6%) $1,176,281 (31.8%) 0.00 111
    Laconia's median listing price for 2023-04-01 was $609,000, a difference of $104,000 (20.6%) versus the prior year and $-900 versus the prior month.

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

    Laconia's average listing price for 2023-04-01 was $1,176,281, a difference of $283,856 (31.8%) versus the prior year and $-122,010 versus the prior month.

    For the 2023-04-01 period, Laconia had 111 MLS listings, a difference of 2 listings (2%) versus the prior month and 21 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Laconia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,903 sqft
    2018-02-01 0 days 1,913 sqft
    2018-03-01 0 days 1,851 sqft
    2018-04-01 0 days 1,833 sqft
    2018-05-01 0 days 1,850 sqft
    2018-06-01 0 days 1,920 sqft
    2018-07-01 0 days 1,933 sqft
    2018-08-01 0 days 1,934 sqft
    2018-09-01 0 days 1,906 sqft
    2018-10-01 0 days 1,861 sqft
    2018-11-01 0 days 1,842 sqft
    2018-12-01 0 days 1,849 sqft
    2019-01-01 0 days 1,801 sqft
    2019-02-01 0 days 1,830 sqft
    2019-03-01 0 days 1,848 sqft
    2019-04-01 0 days 1,801 sqft
    2019-05-01 0 days 1,919 sqft
    2019-06-01 0 days 1,920 sqft
    2019-07-01 0 days 1,853 sqft
    2019-08-01 0 days 1,916 sqft
    2019-09-01 0 days 1,915 sqft
    2019-10-01 0 days 1,920 sqft
    2019-11-01 0 days 1,872 sqft
    2019-12-01 0 days 1,862 sqft
    2020-01-01 0 days 1,824 sqft
    2020-02-01 0 days 1,807 sqft
    2020-03-01 0 days 1,780 sqft
    2020-04-01 0 days 1,789 sqft
    2020-05-01 0 days 1,784 sqft
    2020-06-01 0 days 1,854 sqft
    2020-07-01 0 days 1,993 sqft
    2020-08-01 0 days 1,912 sqft
    2020-09-01 0 days 1,853 sqft
    2020-10-01 0 days 1,863 sqft
    2020-11-01 0 days 1,800 sqft
    2020-12-01 0 days 1,660 sqft
    2021-01-01 0 days 1,534 sqft
    2021-02-01 0 days 1,633 sqft
    2021-03-01 0 days 1,860 sqft
    2021-04-01 0 days 1,879 sqft
    2021-05-01 0 days 1,814 sqft
    2021-06-01 0 days 1,869 sqft
    2021-07-01 0 days 1,983 sqft
    2021-08-01 0 days 1,958 sqft
    2021-09-01 0 days 1,845 sqft
    2021-10-01 0 days 1,836 sqft
    2021-11-01 0 days 1,784 sqft
    2021-12-01 0 days 1,840 sqft
    2022-01-01 0 days 1,800 sqft
    2022-02-01 0 days 1,919 sqft
    2022-03-01 0 days 1,905 sqft
    2022-04-01 0 days 1,873 sqft
    2022-05-01 0 days 1,772 sqft
    2022-06-01 0 days 1,877 sqft
    2022-07-01 0 days 1,825 sqft
    2022-08-01 0 days 1,855 sqft
    2022-09-01 0 days 1,846 sqft
    2022-10-01 0 days 1,920 sqft
    2022-11-01 0 days 1,910 sqft
    2022-12-01 0 days 1,860 sqft
    2023-01-01 0 days 1,990 sqft
    2023-02-01 0 days 1,959 sqft
    2023-03-01 0 days 2,010 sqft
    2023-04-01 0 days 1,977 sqft
    Laconia's median listing age (time on market) for 2023-04-01 was 0 days.

    Laconia's median square footage for active listings during the 2023-04-01 period was 1,977 sqft. One year prior, the average listing was 1,873 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).