Manchester FHA Loan Rates, Closing Costs & Stats

MANCHESTER-NASHUA, 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.

Manchester's 88 lenders originated 844 FHA loans during 2022. The total origination value was $270,690,000, with an average FHA loan value of $320,723.

Manchester FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Manchester averaged 6.2% for the week of 2024-02-16, compared to the national average (all FHA variants) of 6.611% for the same period.

Manchester's average FHA mortgage closing costs are $8,288.

The average rate for the prior week (2024-02-09) was 6.01% and one month ago for the week of 2024-01-12, the average rate was 6.15%.

The average rate one year ago was 6.1%.

For refis of the same type during the week of 2024-02-16, the average rate was 5.13%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 80 4.91% $11,205
GUILD MORTGAGE COMPANY 72 5.31% $10,643
QUICKEN LOANS, LLC 64 4.60% $12,946
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 35 5.61% $10,592
CROSSCOUNTRY MORTGAGE, LLC 33 5.10% $13,320
CMG MORTGAGE, INC. 26 5.52% $11,103
AMERISAVE MORTGAGE CORPORATION 23 4.52% $13,252
FREEDOM MORTGAGE CORPORATION 23 4.63% $13,331
LOANDEPOT.COM, LLC 22 4.83% $11,756
EMM LOANS LLC 21 5.14% $11,745
MOVEMENT MORTGAGE, LLC 21 4.82% $10,343
Mr. Cooper ( Nationstar Mortgage ) 19 4.53% $15,707
LAKEVIEW LOAN SERVICING, LLC 18 3.80% $6,515
HARBORONE MORTGAGE, LLC 17 5.07% $11,156
EMBRACE HOME LOANS, INC. 16 5.36% $10,828
PENNYMAC LOAN SERVICES, LLC 15 4.01% $10,408
American Mortgage & Equity Consultants, Inc. 15 5.60% $12,894
TOTAL MORTGAGE SERVICES, LLC 13 5.35% $11,900
NORTHPOINT MORTGAGE, INC. 12 5.38% $10,563
GUARANTEED RATE, INC. 11 4.75% $11,261
CALIBER HOME LOANS, INC. 11 4.36% $9,342
NEW FED MORTGAGE, CORP. 10 5.23% $11,349
HOMEBRIDGE FINANCIAL SERVICES, INC. 10 5.27% $14,615
Sierra Pacific Mortgage Company, Inc. 8 5.47% $16,308
NEWREZ LLC 8 5.06% $12,730
RADIUS FINANCIAL GROUP INC. 7 4.80% $10,407
PRIMELENDING, A PLAINSCAPITAL COMPANY 7 5.14% $13,643
Carrington Mortgage Services, LLC 7 4.89% $15,893
CARDINAL FINANCIAL 6 5.10% $12,813
BROKER SOLUTIONS, INC. 6 4.17% $12,950
BAY EQUITY LLC 6 5.35% $11,752
Equity Prime Mortgage LLC 6 5.58% $14,814
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 5.15% $13,951
MUTUAL OF OMAHA MORTGAGE, INC. 6 4.83% $16,178
HOME POINT FINANCIAL CORPORATION 6 4.54% $11,269
FIRST MORTGAGE COMPANY, INC. 5 4.32% $12,667
ENVOY MORTGAGE, LTD 5 4.55% $13,602
MORTGAGE EQUITY PARTNERS LLC 5 4.78% $13,248
DRAPER AND KRAMER MORTGAGE CORP. 5 5.50% $12,433
LEADERONE FINANCIAL CORPORATION 4 5.25% $12,545
EVERETT FINANCIAL, INC. 4 4.59% $7,654
Mortgage Network, Inc. 4 4.69% $9,784
SALEM FIVE MORTGAGE COMPANY, LLC 4 4.91% $11,164
Ross Mortgage Company, Inc. 3 4.79% $12,797
GUARANTEED RATE AFFINITY, LLC 3 5.13% $9,840
Home Loan Investment Bank, F.S.B. 3 4.00% $11,593
HOMESIDE FINANCIAL, LLC 3 4.37% $21,150
Century Mortgage Company DBA Century Lending Company 3 4.54% $17,382
The Federal Savings Bank 3 4.42% $18,754
AMERICAN FINANCING CORPORATION 2 4.13% $12,476
Mortgage Research Center, LLC 2 5.25% $7,343
Waterstone Mortgage Corporation 2 5.13% $11,342
Paramount Residential Mortgage Group, Inc. 2 4.19% $12,829
Leader Bank 2 4.81% $11,792
Nations Lending Corporation 2 4.75% $9,795
First Guaranty Mortgage Corporation 2 4.31% $14,410
SUCCESS MORTGAGE PARTNERS, INC. 2 7.06% $12,845
Wyndham Capital Mortgage, Inc. 2 4.94% $9,096
Bangor Savings Bank 2 5.56% $9,198
PNC Bank 1 5.38% $12,133
POLARIS HOME FUNDING CORP. 1 6.63% $13,415
CONTOUR MORTGAGE CORPORATION 1 3.50% $10,699
CHURCHILL MORTGAGE CORPORATION 1 7.25% $11,363
RELIANCE FIRST CAPITAL, LLC 1 5.00% $17,084
Republic State Mortgage Co. 1 4.50% $25,800
ZILLOW HOME LOANS, LLC 1 2.88% $14,287
Shamrock Home Loans, Inc. 1 5.25% $13,773
Bank of England 1 5.63% $11,678
TD Bank 1 5.88% $7,066
The Camden National Bank 1 4.75% $10,091
VILLAGE CAPITAL MORTGAGE 1 5.38% $14,373
Lakeview Community Capital, LLC 1 5.00% $12,506
INTEGRITY MORTGAGE LLC 1 3.50% $15,843
AMERICAN FINANCIAL RESOURCES, INC. 1 5.75% $9,649
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 5.75% $12,689
Mortgage Assurance Inc. 1 2.75% $10,705
GENEVA FINANCIAL, LLC 1 5.63% $11,759
M&T Bank 1 4.63% $11,157
First Home Bank 1 3.50% $11,772
MYCUMORTGAGE, LLC 1 5.63% $9,748
NBKC BANK 1 6.13% $7,908
NEW DAY FINANCIAL, LLC 1 7.50% $10,614
FINANCE OF AMERICA MORTGAGE LLC 1 4.25% $9,218
Evolve Bank & Trust 1 4.25% $16,352
NORWICH COMMERCIAL GROUP, INC. 1 4.75% $15,446
Envision Bank 1 5.25% $8,317
Plains Commerce Bank 1 5.50% $21,990
PLANET HOME LENDING, LLC 1 3.75% $8,811

The top Manchester FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 80 FHA loans originated. Their average total fees are $11,205, which is $562 higher than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Manchester FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($6,515), CALIBER HOME LOANS, INC. ($9,342), MOVEMENT MORTGAGE, LLC ($10,343), PENNYMAC LOAN SERVICES, LLC ($10,408) and NORTHPOINT MORTGAGE, INC. ($10,563).

The lowest rate Manchester FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC (3.80%), PENNYMAC LOAN SERVICES, LLC (4.01%), CALIBER HOME LOANS, INC. (4.36%), AMERISAVE MORTGAGE CORPORATION (4.52%) and Mr. Cooper ( Nationstar Mortgage ) (4.53%).

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Manchester (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 $329,450 (-0.1%) $372,572 (-1.6%) 1.22 816
2018-02-01 $339,868 (2.2%) $383,871 (0.9%) 1.23 751
2018-03-01 $349,900 (3.1%) $396,547 (0.9%) 1.23 756
2018-04-01 $349,175 (4.2%) $396,306 (0.7%) 1.18 833
2018-05-01 $349,450 (2.8%) $402,796 (2.7%) 1.17 939
2018-06-01 $339,900 (-0.4%) $400,171 (1.3%) 1.13 1,059
2018-07-01 $339,209 (-0.2%) $398,167 (1.5%) 1.13 1,142
2018-08-01 $334,875 (1.5%) $392,741 (3.4%) 1.12 1,161
2018-09-01 $338,900 (2.7%) $391,114 (-0.5%) 1.14 1,205
2018-10-01 $337,425 (2.3%) $393,868 (1.7%) 1.14 1,179
2018-11-01 $334,900 (2.0%) $391,075 (4.7%) 1.14 1,100
2018-12-01 $345,000 (6.2%) $392,969 (5.3%) 1.19 930
2019-01-01 $349,225 (6.0%) $395,936 (6.3%) 1.21 773
2019-02-01 $358,588 (5.5%) $403,509 (5.1%) 1.21 689
2019-03-01 $363,800 (4.0%) $422,019 (6.4%) 1.19 723
2019-04-01 $365,000 (4.5%) $429,327 (8.3%) 1.16 765
2019-05-01 $365,000 (4.5%) $429,912 (6.7%) 1.14 866
2019-06-01 $362,700 (6.7%) $429,792 (7.4%) 1.13 920
2019-07-01 $364,950 (7.6%) $429,049 (7.8%) 1.14 1,002
2019-08-01 $360,077 (7.5%) $421,935 (7.4%) 1.14 995
2019-09-01 $352,693 (4.1%) $411,583 (5.2%) 1.13 985
2019-10-01 $349,245 (3.5%) $408,874 (3.8%) 1.13 979
2019-11-01 $354,900 (6.0%) $418,515 (7.0%) 1.16 888
2019-12-01 $359,700 (4.3%) $427,163 (8.7%) 1.20 707
2020-01-01 $367,425 (5.2%) $429,573 (8.5%) 1.23 599
2020-02-01 $378,400 (5.5%) $442,929 (9.8%) 1.24 533
2020-03-01 $382,450 (5.1%) $444,803 (5.4%) 1.20 581
2020-04-01 $386,400 (5.9%) $444,723 (3.6%) 1.21 602
2020-05-01 $397,575 (8.9%) $455,212 (5.9%) 1.21 600
2020-06-01 $394,900 (8.9%) $468,574 (9.0%) 1.16 614
2020-07-01 $407,700 (11.7%) $488,094 (13.8%) 1.18 517
2020-08-01 $399,900 (11.1%) $479,443 (13.6%) 1.15 512
2020-09-01 $374,950 (6.3%) $459,523 (11.7%) 1.07 538
2020-10-01 $375,000 (7.4%) $459,955 (12.5%) 1.07 497
2020-11-01 $382,400 (7.8%) $479,482 (14.6%) 1.12 396
2020-12-01 $396,413 (10.2%) $489,812 (14.7%) 1.18 301
2021-01-01 $399,900 (8.8%) $524,314 (22.1%) 1.19 233
2021-02-01 $399,900 (5.7%) $516,827 (16.7%) 1.16 218
2021-03-01 $395,687 (3.5%) $510,305 (14.7%) 1.12 258
2021-04-01 $399,900 (3.5%) $505,354 (13.6%) 1.08 268
2021-05-01 $409,900 (3.1%) $513,562 (12.8%) 1.09 285
2021-06-01 $407,450 (3.2%) $493,566 (5.3%) 1.07 382
2021-07-01 $409,000 (0.3%) $469,670 (-3.8%) 1.08 427
2021-08-01 $400,000 (0.0%) $479,335 (0.0%) 1.07 432
2021-09-01 $416,625 (11.1%) $496,926 (8.1%) 1.11 439
2021-10-01 $419,900 (12.0%) $497,195 (8.1%) 1.12 394
2021-11-01 $414,950 (8.5%) $488,845 (2.0%) 1.11 295
2021-12-01 $441,975 (11.5%) $523,511 (6.9%) 1.20 193
2022-01-01 $449,900 (12.5%) $552,742 (5.4%) 1.22 172
2022-02-01 $449,163 (12.3%) $565,902 (9.5%) 1.17 162
2022-03-01 $459,250 (16.1%) $569,134 (11.5%) 1.15 166
2022-04-01 $447,450 (11.9%) $538,412 (6.5%) 1.07 240
2022-05-01 $444,500 (8.4%) $533,170 (3.8%) 1.02 312
2022-06-01 $479,950 (17.8%) $561,137 (13.7%) 1.07 389
2022-07-01 $499,000 (22.0%) $592,693 (26.2%) 1.12 413
2022-08-01 $486,600 (21.7%) $593,163 (23.8%) 1.12 416
2022-09-01 $492,225 (18.2%) $609,673 (22.7%) 1.15 402
2022-10-01 $499,000 (18.8%) $617,960 (24.3%) 1.17 404
2022-11-01 $492,000 (18.6%) $611,960 (25.2%) 1.18 398
2022-12-01 $499,000 (12.9%) $621,820 (18.8%) 1.23 304
2023-01-01 $541,725 (20.4%) $637,461 (15.3%) 1.34 253
2023-02-01 $562,200 (25.2%) $657,536 (16.2%) 1.36 226
2023-03-01 $549,900 (19.7%) $648,732 (14.0%) 1.30 234
2023-04-01 $532,500 (19.0%) $645,608 (19.9%) 1.24 248
2023-05-01 $522,500 (17.6%) $621,878 (16.6%) 1.18 290
2023-06-01 $534,225 (11.3%) $623,462 (11.1%) 1.20 316
2023-07-01 $539,000 (8.0%) $647,979 (9.3%) 1.23 340
2023-08-01 $557,200 (14.5%) $670,263 (13.0%) 1.28 319
2023-09-01 $535,000 (8.7%) $642,667 (5.4%) 1.25 361
2023-10-01 $523,700 (5.0%) $651,291 (5.4%) 1.23 374
2023-11-01 $520,450 (5.8%) $663,518 (8.4%) 1.24 358
2023-12-01 $549,900 (10.2%) $683,463 (9.9%) 1.34 274
Manchester's median listing price for 2023-12-01 was $549,900, a difference of $50,900 (10.2%) versus the prior year and $29,450 versus the prior month.

Manchester's median listing price comes in at 134% of the national average.

Manchester's average listing price for 2023-12-01 was $683,463, a difference of $61,643 (9.9%) versus the prior year and $19,945 versus the prior month.

For the 2023-12-01 period, Manchester had 274 MLS listings, a difference of -84 listings (-23%) versus the prior month and -30 listings (-10%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Manchester (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 81 days 1,920 sqft
2018-02-01 73 days 1,969 sqft
2018-03-01 51 days 2,050 sqft
2018-04-01 38 days 2,074 sqft
2018-05-01 36 days 2,107 sqft
2018-06-01 37 days 2,098 sqft
2018-07-01 42 days 2,094 sqft
2018-08-01 47 days 2,066 sqft
2018-09-01 51 days 2,071 sqft
2018-10-01 51 days 2,107 sqft
2018-11-01 58 days 2,080 sqft
2018-12-01 72 days 2,075 sqft
2019-01-01 76 days 2,013 sqft
2019-02-01 74 days 2,047 sqft
2019-03-01 50 days 2,098 sqft
2019-04-01 36 days 2,124 sqft
2019-05-01 33 days 2,136 sqft
2019-06-01 33 days 2,133 sqft
2019-07-01 39 days 2,186 sqft
2019-08-01 44 days 2,145 sqft
2019-09-01 47 days 2,086 sqft
2019-10-01 49 days 2,038 sqft
2019-11-01 57 days 2,016 sqft
2019-12-01 68 days 2,043 sqft
2020-01-01 76 days 2,014 sqft
2020-02-01 60 days 2,016 sqft
2020-03-01 34 days 2,036 sqft
2020-04-01 42 days 2,027 sqft
2020-05-01 48 days 2,060 sqft
2020-06-01 36 days 2,081 sqft
2020-07-01 39 days 2,132 sqft
2020-08-01 30 days 2,076 sqft
2020-09-01 25 days 1,930 sqft
2020-10-01 30 days 1,954 sqft
2020-11-01 38 days 1,931 sqft
2020-12-01 50 days 1,921 sqft
2021-01-01 46 days 1,895 sqft
2021-02-01 27 days 1,866 sqft
2021-03-01 10 days 1,907 sqft
2021-04-01 9 days 1,956 sqft
2021-05-01 9 days 1,998 sqft
2021-06-01 11 days 1,947 sqft
2021-07-01 16 days 1,956 sqft
2021-08-01 18 days 1,890 sqft
2021-09-01 19 days 1,935 sqft
2021-10-01 24 days 1,921 sqft
2021-11-01 28 days 1,854 sqft
2021-12-01 36 days 1,908 sqft
2022-01-01 28 days 1,816 sqft
2022-02-01 10 days 1,898 sqft
2022-03-01 8 days 1,955 sqft
2022-04-01 8 days 1,956 sqft
2022-05-01 9 days 1,976 sqft
2022-06-01 11 days 1,988 sqft
2022-07-01 18 days 2,100 sqft
2022-08-01 24 days 2,043 sqft
2022-09-01 29 days 2,081 sqft
2022-10-01 26 days 2,106 sqft
2022-11-01 33 days 2,075 sqft
2022-12-01 43 days 2,044 sqft
2023-01-01 45 days 2,088 sqft
2023-02-01 38 days 2,020 sqft
2023-03-01 28 days 2,023 sqft
2023-04-01 17 days 2,013 sqft
2023-05-01 11 days 2,008 sqft
2023-06-01 17 days 1,991 sqft
2023-07-01 22 days 2,082 sqft
2023-08-01 26 days 2,053 sqft
2023-09-01 24 days 2,055 sqft
2023-10-01 24 days 2,025 sqft
2023-11-01 31 days 2,050 sqft
2023-12-01 43 days 2,100 sqft
Manchester's median listing age (time on market) for 2023-12-01 was 43 days. This is 0% longer than the same period one year ago.

Manchester's median square footage for active listings during the 2023-12-01 period was 2,100 sqft. One year prior, the average listing was 2,044 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).