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 41 lenders originated 127 FHA loans during 2023. The total origination value was $37,115,000, with an average FHA loan value of $292,244.

Laconia FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Laconia averaged 7.16% for the week of 2024-05-24, compared to the national average (all FHA variants) of 6.746% for the same period.

Laconia's average FHA mortgage closing costs are $7,984.

The average rate for the prior week (2024-05-17) was 7.16% and one month ago for the week of 2024-04-19, the average rate was 6.88%.

The average rate one year ago was 6.9%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.75%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 14 6.08% $12,912
UNITED WHOLESALE MORTGAGE, LLC 10 6.20% $11,376
EMM LOANS LLC 9 6.21% $12,037
EVERETT FINANCIAL, INC. 8 7.23% $11,214
HARBORONE MORTGAGE, LLC 6 6.85% $10,818
CMG MORTGAGE, INC. 5 7.45% $13,873
POLARIS HOME FUNDING CORP. 4 7.28% $13,865
LOANDEPOT.COM, LLC 4 6.71% $14,997
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.84% $11,127
MOVEMENT MORTGAGE, LLC 3 7.00% $16,856
American Mortgage & Equity Consultants, Inc. 3 7.13% $12,747
AMERICAN FINANCING CORPORATION 3 6.46% $10,703
GUILD MORTGAGE COMPANY 3 7.13% $11,101
CROSSCOUNTRY MORTGAGE, LLC 2 7.41% $12,116
The Federal Savings Bank 2 6.44% $24,117
LAKEVIEW LOAN SERVICING, LLC 2 5.75% $11,926
MUTUAL OF OMAHA MORTGAGE, INC. 2 6.38% $21,803
Keystone Funding, Inc. 2 6.81% $11,122
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.69% $15,090
Mr. Cooper ( Nationstar Mortgage ) 2 5.69% $17,298
TOTAL MORTGAGE SERVICES, LLC 1 6.38% $19,150
RELIANCE FIRST CAPITAL, LLC 1 7.38% $21,309
AMERISAVE MORTGAGE CORPORATION 1 6.25% $16,277
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.50% $8,207
CARDINAL FINANCIAL 1 6.25% $13,557
Carrington Mortgage Services, LLC 1 6.63% $13,026
Citizens Bank 1 7.75% $4,696
CONTOUR MORTGAGE CORPORATION 1 6.63% $22,986
EMBRACE HOME LOANS, INC. 1 6.75% $10,026
ENVOY MORTGAGE, LTD 1 6.88% $13,597
First Savings Bank 1 5.13% $23,577
Flagstar Bank, FSB 1 7.75% $11,752
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.50% $6,530
LEADERONE FINANCIAL CORPORATION 1 6.50% $10,513
Mortgage Research Center, LLC 1 8.13% $6,319
NFM, INC. 1 6.63% $12,718
PLANET HOME LENDING, LLC 1 5.25% $17,197
RADIUS FINANCIAL GROUP INC. 1 7.13% $9,711
ACADEMY MORTGAGE CORPORATION 1 7.25% $13,361
RUOFF MORTGAGE COMPANY, INC. 1 5.75% $10,485
Semper Home Loans, Inc. 1 7.75% $11,566

The top Laconia FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 14 FHA loans originated. Their average total fees are $12,912, which is $1,536 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Laconia FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($11,376), QUICKEN LOANS, LLC ($12,912), .

The lowest rate Laconia FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.08%), UNITED WHOLESALE MORTGAGE, LLC (6.20%), .

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 $279,900 (3.7%) $539,723 (-16.1%) 0.00 331
2018-02-01 $299,900 (11.1%) $558,764 (-12.2%) 0.00 319
2018-03-01 $299,900 (11.1%) $560,194 (-12.8%) 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 (7.4%) 0.00 465
2018-06-01 $329,900 (14.6%) $646,106 (5.1%) 0.00 523
2018-07-01 $332,500 (12.8%) $613,644 (1.5%) 0.00 559
2018-08-01 $329,900 (10.3%) $617,666 (3.9%) 0.00 546
2018-09-01 $319,000 (6.4%) $588,885 (4.2%) 0.00 567
2018-10-01 $313,150 (4.4%) $581,115 (-0.4%) 0.00 552
2018-11-01 $302,400 (0.9%) $579,115 (-4.6%) 0.00 494
2018-12-01 $299,000 (0.0%) $591,576 (-2.2%) 0.00 422
2019-01-01 $299,900 (7.2%) $608,541 (12.8%) 0.00 366
2019-02-01 $299,900 (0.0%) $557,342 (-0.3%) 0.00 337
2019-03-01 $304,186 (1.4%) $564,294 (0.7%) 0.00 344
2019-04-01 $314,450 (1.6%) $590,479 (3.1%) 0.00 362
2019-05-01 $336,950 (6.0%) $625,965 (-4.8%) 0.00 409
2019-06-01 $334,000 (1.2%) $574,469 (-11.1%) 0.00 458
2019-07-01 $325,750 (-2.0%) $548,224 (-10.7%) 0.00 514
2019-08-01 $325,000 (-1.5%) $551,757 (-10.7%) 0.00 508
2019-09-01 $325,000 (1.9%) $555,025 (-5.8%) 0.00 486
2019-10-01 $327,000 (4.4%) $557,204 (-4.1%) 0.00 462
2019-11-01 $324,900 (7.4%) $522,506 (-9.8%) 0.00 384
2019-12-01 $317,400 (6.2%) $518,350 (-12.4%) 0.00 288
2020-01-01 $307,400 (2.5%) $560,413 (-7.9%) 0.00 240
2020-02-01 $314,450 (4.9%) $573,569 (2.9%) 0.00 213
2020-03-01 $295,750 (-2.8%) $534,751 (-5.2%) 0.00 236
2020-04-01 $299,974 (-4.6%) $528,327 (-10.5%) 0.00 280
2020-05-01 $322,500 (-4.3%) $592,913 (-5.3%) 0.00 261
2020-06-01 $359,450 (7.6%) $643,573 (12.0%) 0.00 231
2020-07-01 $377,000 (15.7%) $774,214 (41.2%) 0.00 196
2020-08-01 $375,000 (15.4%) $753,098 (36.5%) 0.00 193
2020-09-01 $365,250 (12.4%) $638,756 (15.1%) 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%) $694,943 (8.0%) 0.00 145
2021-07-01 $449,900 (19.3%) $688,879 (-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 $432,450 (27.6%) $838,308 (47.4%) 0.00 101
2022-01-01 $434,900 (31.0%) $873,190 (82.1%) 0.00 77
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 $587,450 (31.7%) $826,843 (19.0%) 0.00 173
2022-07-01 $550,000 (22.3%) $983,960 (42.8%) 0.00 216
2022-08-01 $561,175 (26.8%) $976,087 (37.9%) 0.00 210
2022-09-01 $562,000 (26.4%) $1,033,218 (42.2%) 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 (21.4%) $1,062,579 (26.8%) 0.00 151
2023-01-01 $591,725 (36.1%) $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
2023-05-01 $654,900 (22.1%) $1,184,164 (46.2%) 0.00 141
2023-06-01 $612,450 (4.3%) $1,088,917 (31.7%) 0.00 149
2023-07-01 $649,000 (18.0%) $1,039,646 (5.7%) 0.00 159
2023-08-01 $596,200 (6.2%) $1,003,609 (2.8%) 0.00 181
2023-09-01 $629,900 (12.1%) $1,037,642 (0.4%) 0.00 201
2023-10-01 $585,950 (10.6%) $1,039,741 (2.9%) 0.00 211
2023-11-01 $595,000 (12.8%) $1,070,604 (7.4%) 0.00 199
2023-12-01 $544,950 (3.8%) $899,026 (-15.4%) 0.00 185
2024-01-01 $566,800 (-4.2%) $897,174 (-28.6%) 0.00 144
2024-02-01 $594,825 (-0.8%) $968,710 (-28.3%) 0.00 133
2024-03-01 $624,950 (2.5%) $1,051,687 (-19.0%) 0.00 133
2024-04-01 $628,725 (3.2%) $978,415 (-16.8%) 0.00 140
Laconia's median listing price for 2024-04-01 was $628,725, a difference of $19,725 (3.2%) versus the prior year and $3,775 versus the prior month.

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

Laconia's average listing price for 2024-04-01 was $978,415, a difference of $-197,866 (-16.8%) versus the prior year and $-73,272 versus the prior month.

For the 2024-04-01 period, Laconia had 140 MLS listings, a difference of 7 listings (5%) versus the prior month and 29 listings (26%) 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 1,908 sqft
2018-03-01 0 days 1,849 sqft
2018-04-01 0 days 1,833 sqft
2018-05-01 0 days 1,852 sqft
2018-06-01 0 days 1,917 sqft
2018-07-01 0 days 1,933 sqft
2018-08-01 0 days 1,935 sqft
2018-09-01 0 days 1,907 sqft
2018-10-01 0 days 1,862 sqft
2018-11-01 0 days 1,843 sqft
2018-12-01 0 days 1,850 sqft
2019-01-01 0 days 1,803 sqft
2019-02-01 0 days 1,836 sqft
2019-03-01 0 days 1,807 sqft
2019-04-01 0 days 1,803 sqft
2019-05-01 0 days 1,910 sqft
2019-06-01 0 days 1,916 sqft
2019-07-01 0 days 1,858 sqft
2019-08-01 0 days 1,897 sqft
2019-09-01 0 days 1,915 sqft
2019-10-01 0 days 1,926 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 1,790 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 1,868 sqft
2021-07-01 0 days 1,952 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 1,837 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 1,870 sqft
2022-07-01 0 days 1,824 sqft
2022-08-01 0 days 1,847 sqft
2022-09-01 0 days 1,842 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
2023-05-01 0 days 1,921 sqft
2023-06-01 0 days 1,902 sqft
2023-07-01 0 days 1,902 sqft
2023-08-01 0 days 1,818 sqft
2023-09-01 0 days 2,000 sqft
2023-10-01 0 days 1,981 sqft
2023-11-01 0 days 1,901 sqft
2023-12-01 0 days 1,811 sqft
2024-01-01 0 days 1,864 sqft
2024-02-01 0 days 1,966 sqft
2024-03-01 0 days 2,000 sqft
2024-04-01 0 days 1,974 sqft
Laconia's median listing age (time on market) for 2024-04-01 was 0 days.

Laconia's median square footage for active listings during the 2024-04-01 period was 1,974 sqft. One year prior, the average listing was 1,977 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).