Manchester FHA Loan Rates, Closing Costs & Stats

MANCHESTER-NASHUA, NH

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits

    • 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.

    Manchester's 81 lenders originated 670 FHA loans during 2024. The total origination value was $251,210,000, with an average FHA loan value of $374,940.

    Manchester FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Manchester averaged 0.49% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Manchester's average FHA mortgage closing costs are $9,221.

    The average rate for the prior week (2025-06-13) was 7.07% and one month ago for the week of 2025-05-16, the average rate was 6.93%.

    The average rate one year ago was 7.19%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.13%.

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

    Manchester 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 Manchester level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 70 6.18% $14,836
    QUICKEN LOANS, LLC 61 6.12% $15,754
    CMG MORTGAGE, INC. 55 6.70% $11,841
    EMM LOANS LLC 41 6.42% $14,086
    CROSSCOUNTRY MORTGAGE, LLC 27 6.69% $14,172
    GUILD MORTGAGE COMPANY 25 6.80% $11,345
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 21 6.73% $12,193
    FREEDOM MORTGAGE CORPORATION 21 6.35% $14,952
    LOANDEPOT.COM, LLC 20 6.38% $16,462
    PENNYMAC LOAN SERVICES, LLC 19 5.97% $15,163
    MOVEMENT MORTGAGE, LLC 16 6.38% $12,060
    NORTHPOINT MORTGAGE, INC. 15 6.37% $16,547
    TOTAL MORTGAGE SERVICES, LLC 12 6.81% $12,253
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 12 6.56% $15,711
    Mr. Cooper ( Nationstar Mortgage ) 11 6.30% $20,107
    MORTGAGE EQUITY PARTNERS LLC 10 6.38% $14,797
    Sierra Pacific Mortgage Company, Inc. 9 5.80% $23,337
    HARBORONE MORTGAGE, LLC 8 6.80% $11,868
    AMERISAVE MORTGAGE CORPORATION 8 6.22% $16,179
    Keystone Funding, Inc. 7 6.23% $12,763
    BROKER SOLUTIONS, INC. 7 6.57% $18,143
    MSA MORTGAGE, LLC 7 6.79% $9,855
    GUARANTEED RATE, INC. 7 6.20% $10,951
    LAKEVIEW LOAN SERVICING, LLC 6 6.21% $14,054
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 6.38% $15,266
    MUTUAL OF OMAHA MORTGAGE, INC. 6 6.71% $20,404
    Equity Prime Mortgage LLC 4 6.09% $17,967
    Carrington Mortgage Services, LLC 4 5.97% $19,529
    Northpointe Bank 4 6.53% $14,708
    VILLAGE CAPITAL MORTGAGE 3 6.29% $12,933
    Citizens Bank 3 6.75% $9,410
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.42% $7,776
    NEW FED MORTGAGE, CORP. 3 6.42% $12,237
    NEWREZ LLC 3 6.08% $16,684
    Waterstone Mortgage Corporation 3 6.42% $16,632
    CARDINAL FINANCIAL 3 6.42% $11,840
    Mortgage Research Center, LLC 2 6.75% $10,986
    Bangor Savings Bank 2 6.69% $9,986
    DREW MORTGAGE ASSOCIATES, INC. 2 7.06% $11,344
    NATIONS DIRECT MORTGAGE, LLC 2 6.19% $15,380
    Nations Lending Corporation 2 6.75% $23,128
    SALEM FIVE MORTGAGE COMPANY, LLC 2 6.13% $12,687
    FIRST COMMUNITY MORTGAGE, INC. 2 7.44% $21,053
    Fall River Five Cents Savings Bank 2 6.63% $11,188
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.56% $11,371
    RELIANCE FIRST CAPITAL, LLC 2 6.38% $17,171
    PROVINCE MORTGAGE ASSOCIATES, INC. 2 6.63% $12,036
    Home Loan Investment Bank, F.S.B. 2 6.50% $12,821
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.50% $13,566
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 7.19% $16,457
    POLARIS HOME FUNDING CORP. 2 6.00% $17,580
    AMERICAN FINANCING CORPORATION 2 7.00% $15,222
    RESIDENTIAL BANCORP 1 5.99% $13,651
    American Mortgage & Equity Consultants, Inc. 1 6.88% $9,386
    Barrington Bank & Trust Company, N.A. 1 6.13% $12,822
    BAY EQUITY LLC 1 7.00% $12,160
    Berkshire Bank 1 5.75% $12,043
    BM Real Estate Services, Inc. 1 6.25% $17,260
    EMBRACE HOME LOANS, INC. 1 7.63% $10,963
    ENVOY MORTGAGE, LTD 1 7.13% $18,958
    EVERETT FINANCIAL, INC. 1 6.63% $14,023
    Evolve Bank & Trust 1 6.00% $23,702
    FIRST MORTGAGE COMPANY, INC. 1 5.63% $10,987
    Flagstar Bank, FSB 1 6.39% $10,443
    GENEVA FINANCIAL, LLC 1 6.75% $14,126
    HOMESIDE FINANCIAL, LLC 1 5.75% $15,191
    Lakeview Community Capital, LLC 1 6.75% $9,039
    Leader Bank 1 6.25% $13,398
    LENOX FINANCIAL MORTGAGE CORPORATION 1 5.75% $7,182
    NORWICH COMMERCIAL GROUP, INC. 1 5.75% $17,806
    OCMBC, INC. 1 6.25% $10,379
    Paramount Residential Mortgage Group, Inc. 1 7.13% $10,571
    PHH Mortgage Corporation 1 5.50% $9,454
    Plains Commerce Bank 1 6.75% $18,927
    PLANET HOME LENDING, LLC 1 6.25% $7,707
    PLAZA HOME MORTGAGE, INC. 1 6.13% $16,219
    RADIUS FINANCIAL GROUP INC. 1 6.87% $9,837
    Rockland Trust Company 1 6.25% $12,419
    SUN WEST MORTGAGE COMPANY, INC. 1 5.50% $28,983
    The Union Bank Company 1 5.50% $10,449
    U.S. Bank 1 6.50% $10,582

    The top Manchester FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 70 FHA loans originated. Their average total fees are $14,836, which is $919 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Manchester FHA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($11,345), CMG MORTGAGE, INC. ($11,841), MOVEMENT MORTGAGE, LLC ($12,060), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($12,193) and TOTAL MORTGAGE SERVICES, LLC ($12,253).

    The lowest rate Manchester FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.97%), QUICKEN LOANS, LLC (6.12%), UNITED WHOLESALE MORTGAGE, LLC (6.18%), Mr. Cooper ( Nationstar Mortgage ) (6.30%) and FREEDOM MORTGAGE CORPORATION (6.35%).

    Manchester FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    MANCHESTER-NASHUA, NH HILLSBOROUGH 2022 $430,100 $550,600 $665,550 $827,100
    MANCHESTER-NASHUA, NH HILLSBOROUGH 2023 $477,250 $610,950 $738,500 $917,800

    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).