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
6.11%
for the week of 2023-05-26, compared to the national average (all FHA variants) of
6.612% for the same period.
Manchester's average FHA mortgage closing costs are $8,288.
The average rate for the prior week (2023-05-19) was
6.08% and
one month ago for the week of 2023-04-21, the
average rate was 5.92%.
The average rate one year ago was 5.14%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.04%.
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.
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $329,475 (-0.1%) | $373,011 (-1.6%) | 1.22 | 816 |
2018-02-01 | $339,884 (2.2%) | $384,378 (0.9%) | 1.24 | 751 |
2018-03-01 | $349,900 (3.1%) | $396,644 (0.9%) | 1.23 | 757 |
2018-04-01 | $349,450 (3.9%) | $396,393 (0.7%) | 1.18 | 834 |
2018-05-01 | $349,450 (2.8%) | $402,869 (2.7%) | 1.17 | 940 |
2018-06-01 | $339,900 (-0.4%) | $400,232 (1.3%) | 1.13 | 1,060 |
2018-07-01 | $339,418 (-0.1%) | $398,231 (1.5%) | 1.13 | 1,143 |
2018-08-01 | $334,913 (1.5%) | $392,808 (3.4%) | 1.12 | 1,162 |
2018-09-01 | $338,900 (2.7%) | $391,182 (-0.5%) | 1.14 | 1,207 |
2018-10-01 | $337,450 (2.4%) | $394,024 (2.7%) | 1.14 | 1,181 |
2018-11-01 | $334,900 (2.0%) | $391,246 (4.7%) | 1.14 | 1,102 |
2018-12-01 | $347,000 (6.8%) | $393,217 (5.3%) | 1.20 | 932 |
2019-01-01 | $349,450 (6.1%) | $396,223 (6.2%) | 1.21 | 775 |
2019-02-01 | $358,588 (5.5%) | $403,041 (4.9%) | 1.21 | 690 |
2019-03-01 | $359,900 (2.9%) | $420,796 (6.1%) | 1.20 | 718 |
2019-04-01 | $365,200 (4.5%) | $428,875 (8.2%) | 1.16 | 763 |
2019-05-01 | $365,225 (4.5%) | $429,983 (6.7%) | 1.14 | 867 |
2019-06-01 | $362,900 (6.8%) | $429,854 (7.4%) | 1.13 | 921 |
2019-07-01 | $364,950 (7.5%) | $429,049 (7.7%) | 1.14 | 1,002 |
2019-08-01 | $374,900 (11.9%) | $440,365 (12.1%) | 1.18 | 985 |
2019-09-01 | $375,900 (10.9%) | $441,589 (12.9%) | 1.19 | 875 |
2019-10-01 | $348,425 (3.3%) | $407,723 (3.5%) | 1.12 | 978 |
2019-11-01 | $354,900 (6.0%) | $418,485 (7.0%) | 1.16 | 889 |
2019-12-01 | $360,575 (3.9%) | $427,109 (8.6%) | 1.20 | 708 |
2020-01-01 | $367,450 (5.2%) | $429,513 (8.4%) | 1.23 | 599 |
2020-02-01 | $378,400 (5.5%) | $442,929 (9.9%) | 1.24 | 533 |
2020-03-01 | $382,450 (6.3%) | $444,803 (5.7%) | 1.20 | 581 |
2020-04-01 | $386,400 (5.8%) | $444,723 (3.7%) | 1.21 | 602 |
2020-05-01 | $397,575 (8.9%) | $455,212 (5.9%) | 1.21 | 600 |
2020-06-01 | $394,900 (8.8%) | $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 (6.7%) | $479,443 (8.9%) | 1.15 | 512 |
2020-09-01 | $374,950 (-0.3%) | $459,523 (4.1%) | 1.07 | 538 |
2020-10-01 | $375,000 (7.6%) | $459,144 (12.6%) | 1.07 | 496 |
2020-11-01 | $382,400 (7.8%) | $479,054 (14.5%) | 1.12 | 395 |
2020-12-01 | $398,675 (10.6%) | $490,261 (14.8%) | 1.19 | 303 |
2021-01-01 | $399,900 (8.8%) | $521,652 (21.5%) | 1.19 | 232 |
2021-02-01 | $399,900 (5.7%) | $513,704 (16.0%) | 1.16 | 217 |
2021-03-01 | $394,950 (3.3%) | $507,609 (14.1%) | 1.12 | 257 |
2021-04-01 | $399,900 (3.5%) | $504,434 (13.4%) | 1.08 | 268 |
2021-05-01 | $409,900 (3.1%) | $513,562 (12.8%) | 1.09 | 285 |
2021-06-01 | $407,450 (3.2%) | $493,617 (5.3%) | 1.07 | 383 |
2021-07-01 | $409,000 (0.3%) | $469,670 (-3.8%) | 1.08 | 427 |
2021-08-01 | $402,250 (0.6%) | $479,480 (0.0%) | 1.07 | 431 |
2021-09-01 | $417,625 (11.4%) | $497,100 (8.2%) | 1.11 | 438 |
2021-10-01 | $419,900 (12.0%) | $497,195 (8.3%) | 1.12 | 394 |
2021-11-01 | $414,950 (8.5%) | $488,845 (2.0%) | 1.11 | 295 |
2021-12-01 | $441,975 (10.9%) | $523,511 (6.8%) | 1.20 | 193 |
2022-01-01 | $449,950 (12.5%) | $552,742 (6.0%) | 1.22 | 172 |
2022-02-01 | $445,000 (11.3%) | $565,309 (10.1%) | 1.16 | 161 |
2022-03-01 | $459,250 (16.3%) | $569,134 (12.1%) | 1.15 | 166 |
2022-04-01 | $447,450 (11.9%) | $538,412 (6.7%) | 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%) | 1.13 | 413 |
2022-08-01 | $486,600 (21.0%) | $593,163 (23.7%) | 1.12 | 416 |
2022-09-01 | $492,225 (17.9%) | $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 | $541,950 (20.5%) | $637,312 (15.3%) | 1.34 | 254 |
2023-02-01 | $562,200 (26.3%) | $657,536 (16.3%) | 1.36 | 226 |
2023-03-01 | $549,900 (19.7%) | $648,732 (14.0%) | 1.30 | 234 |
2023-04-01 | $532,500 (19.0%) | $645,466 (19.9%) | 1.24 | 248 |
Manchester's median listing price comes in at 124% of the national average.
Manchester's average listing price for 2023-04-01 was $645,466, a difference of $107,054 (19.9%) versus the prior year and $-3,266 versus the prior month.
For the 2023-04-01 period, Manchester had 248 MLS listings, a difference of 14 listings (6%) versus the prior month and 8 listings (3%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Manchester (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 90 days | 1,925 sqft |
2018-02-01 | 86 days | 1,972 sqft |
2018-03-01 | 56 days | 2,050 sqft |
2018-04-01 | 44 days | 2,073 sqft |
2018-05-01 | 40 days | 2,109 sqft |
2018-06-01 | 42 days | 2,099 sqft |
2018-07-01 | 46 days | 2,094 sqft |
2018-08-01 | 52 days | 2,066 sqft |
2018-09-01 | 55 days | 2,070 sqft |
2018-10-01 | 57 days | 2,107 sqft |
2018-11-01 | 63 days | 2,080 sqft |
2018-12-01 | 79 days | 2,075 sqft |
2019-01-01 | 85 days | 2,013 sqft |
2019-02-01 | 84 days | 2,045 sqft |
2019-03-01 | 54 days | 2,092 sqft |
2019-04-01 | 41 days | 2,124 sqft |
2019-05-01 | 36 days | 2,137 sqft |
2019-06-01 | 37 days | 2,135 sqft |
2019-07-01 | 43 days | 2,191 sqft |
2019-08-01 | 54 days | 2,237 sqft |
2019-09-01 | 67 days | 2,213 sqft |
2019-10-01 | 53 days | 2,042 sqft |
2019-11-01 | 60 days | 2,016 sqft |
2019-12-01 | 72 days | 2,043 sqft |
2020-01-01 | 80 days | 2,015 sqft |
2020-02-01 | 68 days | 2,016 sqft |
2020-03-01 | 38 days | 2,036 sqft |
2020-04-01 | 43 days | 2,037 sqft |
2020-05-01 | 52 days | 2,063 sqft |
2020-06-01 | 38 days | 2,082 sqft |
2020-07-01 | 42 days | 2,133 sqft |
2020-08-01 | 33 days | 2,079 sqft |
2020-09-01 | 27 days | 1,935 sqft |
2020-10-01 | 31 days | 1,954 sqft |
2020-11-01 | 40 days | 1,931 sqft |
2020-12-01 | 51 days | 1,925 sqft |
2021-01-01 | 49 days | 1,895 sqft |
2021-02-01 | 29 days | 1,866 sqft |
2021-03-01 | 10 days | 1,907 sqft |
2021-04-01 | 10 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 | 19 days | 1,891 sqft |
2021-09-01 | 19 days | 1,937 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 | 32 days | 1,816 sqft |
2022-02-01 | 11 days | 1,898 sqft |
2022-03-01 | 9 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 | 25 days | 2,043 sqft |
2022-09-01 | 30 days | 2,081 sqft |
2022-10-01 | 27 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 | 39 days | 2,020 sqft |
2023-03-01 | 31 days | 2,023 sqft |
2023-04-01 | 18 days | 2,004 sqft |
Manchester's median square footage for active listings during the 2023-04-01 period was 2,004 sqft. One year prior, the average listing was 1,956 sqft.