Laconia FHA Loan Rates, Closing Costs & Stats

Laconia, NH

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 28 lenders originated 123 FHA loans during 2024. The total origination value was $38,675,000, with an average FHA loan value of $314,431.

Laconia FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Laconia averaged 0.63% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

Laconia's average FHA mortgage closing costs are $8,457.

The average rate for the prior week (2025-06-13) was 7.01% and one month ago for the week of 2025-05-16, the average rate was 7.18%.

The average rate one year ago was 7.23%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.17%.

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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
QUICKEN LOANS, LLC 16 6.19% $14,300
CMG MORTGAGE, INC. 15 6.65% $10,441
UNITED WHOLESALE MORTGAGE, LLC 8 6.14% $18,218
EVERETT FINANCIAL, INC. 8 6.95% $11,718
FREEDOM MORTGAGE CORPORATION 7 6.64% $15,214
GUILD MORTGAGE COMPANY 5 6.48% $9,793
CROSSCOUNTRY MORTGAGE, LLC 4 6.69% $10,402
EMM LOANS LLC 4 6.78% $10,896
MOVEMENT MORTGAGE, LLC 4 6.75% $11,993
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.84% $12,592
HARBORONE MORTGAGE, LLC 4 6.72% $10,198
BROKER SOLUTIONS, INC. 4 6.75% $12,689
NORTHPOINT MORTGAGE, INC. 3 6.38% $12,840
AMERISAVE MORTGAGE CORPORATION 3 6.42% $16,446
PENNYMAC LOAN SERVICES, LLC 3 6.08% $6,773
LOANDEPOT.COM, LLC 3 5.54% $19,721
VILLAGE CAPITAL MORTGAGE 2 6.37% $8,109
Carrington Mortgage Services, LLC 2 6.13% $15,552
Mr. Cooper ( Nationstar Mortgage ) 1 7.25% $3,212
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $17,023
NATIONS RELIABLE LENDING, LLC 1 7.25% $13,914
NEWREZ LLC 1 6.75% $12,789
LAKEVIEW LOAN SERVICING, LLC 1 6.25% $8,473
GUARANTEED RATE AFFINITY, LLC 1 6.00% $10,099
PLANET HOME LENDING, LLC 1 6.63% $20,267
FIRST MORTGAGE COMPANY, INC. 1 6.63% $20,267
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.50% $9,802
American Mortgage & Equity Consultants, Inc. 1 7.13% $12,740

The top Laconia FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 16 FHA loans originated. Their average total fees are $14,300, which is $3,859 higher than the next largest lender, CMG MORTGAGE, INC..

The lowest fee Laconia FHA lenders (with over 10 loans originated) are CMG MORTGAGE, INC. ($10,441), QUICKEN LOANS, LLC ($14,300), .

The lowest rate Laconia FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.19%), CMG MORTGAGE, INC. (6.65%), .

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

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).