Nassau County FHA Loan Rates, Closing Costs & Stats

NASSAU COUNTY-SUFFOLK COUNTY, NY

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    • 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.

    Nassau County FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Nassau County averaged 0% for the week of 2025-05-23, compared to the national average (all FHA variants) of 6.612% for the same period.

    Nassau County's average FHA mortgage closing costs are $0.

    The average rate for the prior week (2025-05-16) was 0% and one month ago for the week of 2025-04-18, the average rate was 0%.

    The average rate one year ago was 0%.

    For refis of the same type during the week of 2025-05-23, the average rate was 0%.

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

    Nassau County 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 Nassau County level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs

    The lowest fee Nassau County FHA lenders (with over 10 loans originated) are .

    The lowest rate Nassau County FHA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Nassau County (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 $504,500 (12.2%) $1,201,897 (11.3%) 1.87 47,166
    2018-02-01 $525,000 (13.2%) $1,203,837 (6.8%) 1.91 49,645
    2018-03-01 $539,900 (11.9%) $1,180,874 (3.9%) 1.89 53,178
    2018-04-01 $551,925 (10.6%) $1,177,424 (1.1%) 1.87 56,296
    2018-05-01 $569,000 (10.7%) $1,170,846 (1.2%) 1.90 61,351
    2018-06-01 $569,500 (9.5%) $1,152,998 (-0.1%) 1.90 64,304
    2018-07-01 $564,000 (8.7%) $1,133,502 (-0.8%) 1.88 64,929
    2018-08-01 $550,000 (10.1%) $1,099,883 (-1.9%) 1.84 64,092
    2018-09-01 $559,000 (10.7%) $1,107,855 (-2.7%) 1.88 64,664
    2018-10-01 $559,000 (7.0%) $1,118,438 (-4.1%) 1.89 65,012
    2018-11-01 $559,000 (7.6%) $1,130,071 (-3.5%) 1.89 62,638
    2018-12-01 $549,000 (7.7%) $1,130,081 (-4.4%) 1.89 56,644
    2019-01-01 $545,000 (8.0%) $1,129,579 (-6.0%) 1.88 52,146
    2019-02-01 $549,450 (4.7%) $1,141,878 (-5.2%) 1.86 54,158
    2019-03-01 $562,429 (4.2%) $1,142,378 (-3.3%) 1.84 57,717
    2019-04-01 $579,000 (4.9%) $1,138,134 (-3.3%) 1.84 61,682
    2019-05-01 $595,000 (4.6%) $1,143,100 (-2.4%) 1.86 67,046
    2019-06-01 $595,000 (4.5%) $1,134,390 (-1.6%) 1.86 68,877
    2019-07-01 $582,500 (3.3%) $1,121,491 (-1.1%) 1.82 67,789
    2019-08-01 $581,250 (5.7%) $1,115,765 (1.4%) 1.84 66,922
    2019-09-01 $583,359 (4.4%) $1,128,472 (1.9%) 1.87 66,095
    2019-10-01 $585,000 (4.7%) $1,138,560 (1.8%) 1.89 64,996
    2019-11-01 $579,000 (3.6%) $1,151,286 (1.9%) 1.90 61,217
    2019-12-01 $579,000 (5.5%) $1,177,565 (4.2%) 1.93 53,425
    2020-01-01 $572,350 (5.0%) $1,186,442 (5.0%) 1.91 49,253
    2020-02-01 $579,900 (5.5%) $1,189,724 (4.2%) 1.90 50,657
    2020-03-01 $599,000 (6.5%) $1,194,646 (4.6%) 1.88 52,118
    2020-04-01 $599,000 (3.5%) $1,235,750 (8.6%) 1.88 48,239
    2020-05-01 $599,000 (0.7%) $1,210,559 (5.9%) 1.82 47,909
    2020-06-01 $607,500 (2.1%) $1,202,446 (6.0%) 1.79 50,565
    2020-07-01 $629,500 (8.1%) $1,216,514 (8.5%) 1.82 53,814
    2020-08-01 $649,000 (11.7%) $1,257,237 (12.7%) 1.86 53,868
    2020-09-01 $649,450 (11.3%) $1,270,263 (12.6%) 1.86 54,158
    2020-10-01 $650,000 (11.1%) $1,299,537 (14.1%) 1.86 55,226
    2020-11-01 $649,950 (12.3%) $1,314,171 (14.2%) 1.90 51,807
    2020-12-01 $649,950 (12.3%) $1,335,674 (13.4%) 1.93 46,561
    2021-01-01 $649,900 (13.6%) $1,383,033 (16.6%) 1.94 40,170
    2021-02-01 $650,000 (12.1%) $1,406,220 (18.2%) 1.89 38,479
    2021-03-01 $649,000 (8.4%) $1,390,012 (16.4%) 1.84 38,238
    2021-04-01 $650,000 (8.5%) $1,399,533 (13.3%) 1.76 39,848
    2021-05-01 $650,000 (8.5%) $1,387,307 (14.6%) 1.73 42,006
    2021-06-01 $649,000 (6.8%) $1,349,941 (12.3%) 1.71 44,487
    2021-07-01 $629,000 (-0.1%) $1,307,328 (7.5%) 1.66 44,712
    2021-08-01 $622,500 (-4.1%) $1,291,987 (2.8%) 1.66 44,180
    2021-09-01 $618,500 (-4.8%) $1,294,946 (1.9%) 1.65 43,158
    2021-10-01 $625,000 (-3.9%) $1,312,885 (1.0%) 1.67 43,093
    2021-11-01 $625,000 (-3.8%) $1,361,690 (3.6%) 1.67 38,713
    2021-12-01 $625,000 (-3.8%) $1,394,618 (4.4%) 1.69 32,598
    2022-01-01 $625,000 (-3.8%) $1,504,762 (8.8%) 1.69 27,898
    2022-02-01 $644,000 (-0.9%) $1,450,307 (3.1%) 1.67 28,275
    2022-03-01 $649,995 (0.2%) $1,458,486 (4.9%) 1.63 30,199
    2022-04-01 $669,000 (2.9%) $1,456,215 (4.1%) 1.59 31,856
    2022-05-01 $677,000 (4.2%) $1,441,821 (3.9%) 1.55 35,674
    2022-06-01 $677,000 (4.3%) $1,388,419 (2.9%) 1.51 38,371
    2022-07-01 $669,000 (6.4%) $1,347,598 (3.1%) 1.51 40,503
    2022-08-01 $659,000 (5.9%) $1,330,826 (3.0%) 1.52 39,661
    2022-09-01 $669,950 (8.3%) $1,378,224 (6.4%) 1.57 39,189
    2022-10-01 $675,000 (8.0%) $1,467,986 (11.8%) 1.59 39,578
    2022-11-01 $675,000 (8.0%) $1,509,960 (10.9%) 1.62 38,208
    2022-12-01 $670,000 (7.2%) $1,533,266 (9.9%) 1.65 33,581
    2023-01-01 $672,000 (7.5%) $1,560,973 (3.7%) 1.66 30,337
    2023-02-01 $688,972 (7.0%) $1,590,325 (9.7%) 1.66 29,853
    2023-03-01 $699,000 (7.5%) $1,602,684 (9.9%) 1.65 29,858
    2023-04-01 $701,690 (4.9%) $1,624,018 (11.5%) 1.63 31,008
    2023-05-01 $744,500 (10.0%) $1,685,172 (16.9%) 1.69 32,101
    2023-06-01 $749,000 (10.6%) $1,637,472 (17.9%) 1.68 32,923
    2023-07-01 $745,000 (11.4%) $1,605,600 (19.2%) 1.69 32,747
    2023-08-01 $725,000 (10.0%) $1,569,186 (17.9%) 1.66 32,397
    2023-09-01 $725,000 (8.2%) $1,554,526 (12.8%) 1.69 34,332
    2023-10-01 $737,000 (9.2%) $1,621,804 (10.5%) 1.73 33,514
    2023-11-01 $737,400 (9.2%) $1,682,664 (11.4%) 1.76 33,823
    2023-12-01 $748,000 (11.6%) $1,777,494 (15.9%) 1.82 28,830
    2024-01-01 $749,000 (11.5%) $1,759,249 (12.7%) 1.83 26,598
    2024-02-01 $752,500 (9.2%) $1,702,306 (7.0%) 1.81 26,866
    2024-03-01 $770,000 (10.2%) $1,696,188 (5.8%) 1.81 28,525
    2024-04-01 $775,000 (10.5%) $1,704,077 (4.9%) 1.80 30,602
    2024-05-01 $793,676 (6.6%) $1,725,552 (2.4%) 1.81 32,223
    2024-06-01 $779,999 (4.1%) $1,658,746 (1.3%) 1.77 33,850
    2024-07-01 $775,000 (4.0%) $1,634,047 (1.8%) 1.77 33,665
    2024-08-01 $759,000 (4.7%) $1,594,139 (1.6%) 1.77 33,000
    2024-09-01 $772,500 (6.6%) $1,659,806 (6.8%) 1.82 34,784
    2024-10-01 $774,847 (5.1%) $1,664,983 (2.7%) 1.82 34,793
    2024-11-01 $768,000 (4.2%) $1,656,035 (-1.6%) 1.84 33,340
    2024-12-01 $750,000 (0.3%) $1,667,772 (-6.2%) 1.86 28,853
    2025-01-01 $750,000 (0.1%) $1,679,477 (-4.5%) 1.87 26,691
    2025-02-01 $766,889 (1.9%) $1,686,342 (-0.9%) 1.86 27,148
    2025-03-01 $780,000 (1.3%) $1,671,028 (-1.5%) 1.84 29,480
    2025-04-01 $789,450 (1.9%) $1,651,597 (-3.1%) 1.83 31,571
    Nassau County's median listing price for 2025-04-01 was $789,450, a difference of $14,450 (1.9%) versus the prior year and $9,450 versus the prior month.

    Nassau County's median listing price comes in at 183% of the national average.

    Nassau County's average listing price for 2025-04-01 was $1,651,597, a difference of $-52,480 (-3.1%) versus the prior year and $-19,431 versus the prior month.

    For the 2025-04-01 period, Nassau County had 31,571 MLS listings, a difference of 2,091 listings (7%) versus the prior month and 969 listings (3%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Nassau County (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 83 days 1,843 sqft
    2018-02-01 72 days 1,857 sqft
    2018-03-01 52 days 1,880 sqft
    2018-04-01 50 days 1,894 sqft
    2018-05-01 46 days 1,909 sqft
    2018-06-01 50 days 1,920 sqft
    2018-07-01 59 days 1,920 sqft
    2018-08-01 64 days 1,913 sqft
    2018-09-01 66 days 1,900 sqft
    2018-10-01 63 days 1,888 sqft
    2018-11-01 65 days 1,866 sqft
    2018-12-01 78 days 1,840 sqft
    2019-01-01 82 days 1,821 sqft
    2019-02-01 72 days 1,831 sqft
    2019-03-01 59 days 1,865 sqft
    2019-04-01 50 days 1,904 sqft
    2019-05-01 50 days 1,919 sqft
    2019-06-01 55 days 1,928 sqft
    2019-07-01 64 days 1,920 sqft
    2019-08-01 67 days 1,915 sqft
    2019-09-01 68 days 1,906 sqft
    2019-10-01 69 days 1,900 sqft
    2019-11-01 71 days 1,850 sqft
    2019-12-01 85 days 1,830 sqft
    2020-01-01 90 days 1,817 sqft
    2020-02-01 75 days 1,836 sqft
    2020-03-01 54 days 1,850 sqft
    2020-04-01 71 days 1,854 sqft
    2020-05-01 85 days 1,863 sqft
    2020-06-01 85 days 1,862 sqft
    2020-07-01 47 days 1,803 sqft
    2020-08-01 47 days 1,753 sqft
    2020-09-01 51 days 1,701 sqft
    2020-10-01 51 days 1,684 sqft
    2020-11-01 60 days 1,648 sqft
    2020-12-01 74 days 1,607 sqft
    2021-01-01 84 days 1,566 sqft
    2021-02-01 78 days 1,532 sqft
    2021-03-01 55 days 1,530 sqft
    2021-04-01 44 days 1,542 sqft
    2021-05-01 41 days 1,563 sqft
    2021-06-01 44 days 1,574 sqft
    2021-07-01 47 days 1,584 sqft
    2021-08-01 53 days 1,576 sqft
    2021-09-01 57 days 1,556 sqft
    2021-10-01 57 days 1,530 sqft
    2021-11-01 59 days 1,504 sqft
    2021-12-01 70 days 1,459 sqft
    2022-01-01 79 days 1,428 sqft
    2022-02-01 60 days 1,409 sqft
    2022-03-01 40 days 1,430 sqft
    2022-04-01 39 days 1,450 sqft
    2022-05-01 38 days 1,505 sqft
    2022-06-01 39 days 1,553 sqft
    2022-07-01 44 days 1,566 sqft
    2022-08-01 54 days 1,550 sqft
    2022-09-01 59 days 1,545 sqft
    2022-10-01 59 days 1,535 sqft
    2022-11-01 62 days 1,525 sqft
    2022-12-01 75 days 1,500 sqft
    2023-01-01 82 days 1,483 sqft
    2023-02-01 75 days 1,480 sqft
    2023-03-01 55 days 1,483 sqft
    2023-04-01 50 days 1,488 sqft
    2023-05-01 48 days 1,500 sqft
    2023-06-01 51 days 1,516 sqft
    2023-07-01 54 days 1,540 sqft
    2023-08-01 59 days 1,543 sqft
    2023-09-01 60 days 1,548 sqft
    2023-10-01 56 days 1,549 sqft
    2023-11-01 58 days 1,551 sqft
    2023-12-01 71 days 1,530 sqft
    2024-01-01 79 days 1,500 sqft
    2024-02-01 69 days 1,496 sqft
    2024-03-01 50 days 1,500 sqft
    2024-04-01 45 days 1,500 sqft
    2024-05-01 44 days 1,530 sqft
    2024-06-01 47 days 1,550 sqft
    2024-07-01 52 days 1,563 sqft
    2024-08-01 58 days 1,550 sqft
    2024-09-01 57 days 1,556 sqft
    2024-10-01 54 days 1,550 sqft
    2024-11-01 59 days 1,535 sqft
    2024-12-01 73 days 1,494 sqft
    2025-01-01 77 days 1,482 sqft
    2025-02-01 68 days 1,473 sqft
    2025-03-01 48 days 1,488 sqft
    2025-04-01 45 days 1,493 sqft
    Nassau County's median listing age (time on market) for 2025-04-01 was 45 days. This is -1% shorter than the same period one year ago.

    Nassau County's median square footage for active listings during the 2025-04-01 period was 1,493 sqft. One year prior, the average listing was 1,500 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).