Laconia FHA Loans
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 42 lenders originated 209 FHA loans during 2021. The total origination value was $48,315,000, with an average FHA loan value of $231,172.
Laconia FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Laconia
averaged
5.41%
for the week of 2022-08-05, compared to the national average (all FHA variants) of
5.305% for the same period.
The average rate for the prior week (2022-07-29) was
5.45% and
one month ago for the week of 2022-07-01, the
average rate was 5.84%.
The average rate one year ago was 2.94%.
For refis of the same type during the week of 2022-08-05, the average rate
was 5.02%.
Laconia FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Laconia level.
The top Laconia FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
23 FHA loans originated. Their average total fees are
$5,961, which is $2,702
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Laconia FHA lenders (with over 10 loans originated) are
Mr. Cooper ( Nationstar Mortgage ) ($5,741), QUICKEN LOANS, LLC ($5,961), RESIDENTIAL MORTGAGE SERVICES, INC. ($8,406), UNITED WHOLESALE MORTGAGE, LLC ($8,663) and .
The lowest rate Laconia FHA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (2.64%), QUICKEN LOANS, LLC (2.71%), RESIDENTIAL MORTGAGE SERVICES, INC. (3.06%), Mr. Cooper ( Nationstar Mortgage ) (3.23%) and .
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Laconia (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $289,450 (6.2%) | $544,559 (-17.8%) | 0.00 | 324 |
2018-02-01 | $299,900 (11.1%) | $566,210 (-13.2%) | 0.00 | 314 |
2018-03-01 | $310,000 (14.8%) | $568,948 (-13.0%) | 0.00 | 331 |
2018-04-01 | $320,473 (14.9%) | $582,025 (-9.7%) | 0.00 | 377 |
2018-05-01 | $325,000 (17.4%) | $666,246 (6.7%) | 0.00 | 456 |
2018-06-01 | $335,000 (15.9%) | $657,770 (4.7%) | 0.00 | 510 |
2018-07-01 | $341,450 (14.2%) | $623,307 (1.5%) | 0.00 | 545 |
2018-08-01 | $330,000 (10.0%) | $623,298 (3.0%) | 0.00 | 537 |
2018-09-01 | $324,900 (5.2%) | $600,977 (4.0%) | 0.00 | 548 |
2018-10-01 | $319,500 (3.1%) | $599,460 (1.2%) | 0.00 | 533 |
2018-11-01 | $307,400 (1.0%) | $593,149 (-2.7%) | 0.00 | 478 |
2018-12-01 | $299,900 (0.0%) | $607,983 (-1.0%) | 0.00 | 409 |
2019-01-01 | $299,950 (3.6%) | $625,697 (14.9%) | 0.00 | 356 |
2019-02-01 | $299,900 (0.0%) | $571,531 (0.9%) | 0.00 | 329 |
2019-03-01 | $304,229 (-1.9%) | $572,542 (0.6%) | 0.00 | 339 |
2019-04-01 | $317,500 (-0.9%) | $598,694 (2.9%) | 0.00 | 355 |
2019-05-01 | $344,450 (6.0%) | $634,423 (-4.8%) | 0.00 | 407 |
2019-06-01 | $339,900 (1.5%) | $583,159 (-11.3%) | 0.00 | 448 |
2019-07-01 | $329,450 (-3.5%) | $558,349 (-10.4%) | 0.00 | 499 |
2019-08-01 | $322,957 (-2.1%) | $552,147 (-11.4%) | 0.00 | 502 |
2019-09-01 | $318,457 (-2.0%) | $545,406 (-9.3%) | 0.00 | 487 |
2019-10-01 | $334,450 (4.7%) | $578,631 (-3.5%) | 0.00 | 441 |
2019-11-01 | $329,900 (7.3%) | $531,914 (-10.3%) | 0.00 | 364 |
2019-12-01 | $322,450 (7.5%) | $529,293 (-12.9%) | 0.00 | 279 |
2020-01-01 | $307,400 (2.5%) | $570,044 (-8.9%) | 0.00 | 229 |
2020-02-01 | $324,900 (8.3%) | $586,428 (2.6%) | 0.00 | 206 |
2020-03-01 | $302,200 (-0.7%) | $570,332 (-0.4%) | 0.00 | 223 |
2020-04-01 | $322,450 (1.6%) | $548,518 (-8.4%) | 0.00 | 271 |
2020-05-01 | $339,900 (-1.3%) | $616,427 (-2.8%) | 0.00 | 247 |
2020-06-01 | $377,219 (11.0%) | $666,168 (14.2%) | 0.00 | 218 |
2020-07-01 | $399,900 (21.4%) | $811,024 (45.3%) | 0.00 | 186 |
2020-08-01 | $395,000 (22.3%) | $793,870 (43.8%) | 0.00 | 181 |
2020-09-01 | $369,900 (16.2%) | $662,206 (21.4%) | 0.00 | 183 |
2020-10-01 | $379,000 (13.3%) | $632,800 (9.4%) | 0.00 | 185 |
2020-11-01 | $359,450 (9.0%) | $589,768 (10.9%) | 0.00 | 164 |
2020-12-01 | $340,000 (5.4%) | $592,744 (12.0%) | 0.00 | 127 |
2021-01-01 | $349,000 (13.5%) | $503,421 (-11.7%) | 0.00 | 90 |
2021-02-01 | $366,500 (12.8%) | $551,265 (-6.0%) | 0.00 | 78 |
2021-03-01 | $399,450 (32.2%) | $624,086 (9.4%) | 0.00 | 90 |
2021-04-01 | $412,450 (27.9%) | $685,073 (24.9%) | 0.00 | 105 |
2021-05-01 | $425,000 (25.0%) | $657,694 (6.7%) | 0.00 | 130 |
2021-06-01 | $444,450 (17.8%) | $691,684 (3.8%) | 0.00 | 142 |
2021-07-01 | $459,475 (14.9%) | $688,503 (-15.1%) | 0.00 | 162 |
2021-08-01 | $454,950 (15.2%) | $717,069 (-9.7%) | 0.00 | 177 |
2021-09-01 | $447,500 (21.0%) | $738,152 (11.5%) | 0.00 | 167 |
2021-10-01 | $445,000 (17.4%) | $735,301 (16.2%) | 0.00 | 152 |
2021-11-01 | $429,000 (19.4%) | $742,198 (25.9%) | 0.00 | 135 |
2021-12-01 | $432,450 (27.2%) | $846,798 (42.9%) | 0.00 | 100 |
2022-01-01 | $437,900 (25.5%) | $885,588 (75.9%) | 0.00 | 76 |
2022-02-01 | $467,350 (27.5%) | $940,537 (70.6%) | 0.00 | 66 |
2022-03-01 | $480,000 (20.2%) | $926,282 (48.4%) | 0.00 | 64 |
2022-04-01 | $499,000 (21.0%) | $880,065 (28.5%) | 0.00 | 90 |
2022-05-01 | $525,000 (23.5%) | $826,508 (25.7%) | 0.00 | 130 |
2022-06-01 | $587,000 (32.1%) | $822,480 (18.9%) | 0.00 | 174 |
Laconia's median listing price comes in at 0% of the national average.
Laconia's average listing price for 2022-06-01 was $822,480, a difference of $130,796 (18.9%) versus the prior year and $-4,028 versus the prior month.
For the 2022-06-01 period, Laconia had 174 MLS listings, a difference of 44 listings (34%) versus the prior month and 32 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. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,902 sqft |
2018-02-01 | 0 days | 1,908 sqft |
2018-03-01 | 0 days | 1,851 sqft |
2018-04-01 | 0 days | 1,830 sqft |
2018-05-01 | 0 days | 1,842 sqft |
2018-06-01 | 0 days | 1,900 sqft |
2018-07-01 | 0 days | 1,925 sqft |
2018-08-01 | 0 days | 1,927 sqft |
2018-09-01 | 0 days | 1,906 sqft |
2018-10-01 | 0 days | 1,873 sqft |
2018-11-01 | 0 days | 1,837 sqft |
2018-12-01 | 0 days | 1,825 sqft |
2019-01-01 | 0 days | 1,800 sqft |
2019-02-01 | 0 days | 1,828 sqft |
2019-03-01 | 0 days | 1,800 sqft |
2019-04-01 | 0 days | 1,825 sqft |
2019-05-01 | 0 days | 1,951 sqft |
2019-06-01 | 0 days | 1,965 sqft |
2019-07-01 | 0 days | 1,899 sqft |
2019-08-01 | 0 days | 1,937 sqft |
2019-09-01 | 0 days | 1,920 sqft |
2019-10-01 | 0 days | 1,953 sqft |
2019-11-01 | 0 days | 1,872 sqft |
2019-12-01 | 0 days | 1,859 sqft |
2020-01-01 | 0 days | 1,813 sqft |
2020-02-01 | 0 days | 1,835 sqft |
2020-03-01 | 0 days | 1,796 sqft |
2020-04-01 | 0 days | 1,812 sqft |
2020-05-01 | 0 days | 1,800 sqft |
2020-06-01 | 0 days | 1,856 sqft |
2020-07-01 | 0 days | 2,012 sqft |
2020-08-01 | 0 days | 1,948 sqft |
2020-09-01 | 0 days | 1,836 sqft |
2020-10-01 | 0 days | 1,792 sqft |
2020-11-01 | 0 days | 1,768 sqft |
2020-12-01 | 0 days | 1,654 sqft |
2021-01-01 | 0 days | 1,544 sqft |
2021-02-01 | 0 days | 1,692 sqft |
2021-03-01 | 0 days | 1,863 sqft |
2021-04-01 | 0 days | 1,938 sqft |
2021-05-01 | 0 days | 1,820 sqft |
2021-06-01 | 0 days | 1,859 sqft |
2021-07-01 | 0 days | 1,941 sqft |
2021-08-01 | 0 days | 2,030 sqft |
2021-09-01 | 0 days | 1,933 sqft |
2021-10-01 | 0 days | 1,866 sqft |
2021-11-01 | 0 days | 1,810 sqft |
2021-12-01 | 0 days | 1,850 sqft |
2022-01-01 | 0 days | 1,792 sqft |
2022-02-01 | 0 days | 1,901 sqft |
2022-03-01 | 0 days | 1,859 sqft |
2022-04-01 | 0 days | 1,876 sqft |
2022-05-01 | 0 days | 1,795 sqft |
2022-06-01 | 0 days | 1,848 sqft |
Laconia's median square footage for active listings during the 2022-06-01 period was 1,848 sqft. One year prior, the average listing was 1,859 sqft.