New York FHA Loans

NEW YORK-JERSEY CITY-WHITE PLAINS, NY-NJ

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.

New York's 246 lenders originated 23,405 FHA loans during 2021. The total origination value was $10,284,115,000, with an average FHA loan value of $439,398.

New York FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in New York averaged 4.48% for the week of 2022-03-25, compared to the national average (all FHA variants) of 4.648% for the same period.

The average rate for the prior week (2022-03-18) was 4.09% and one month ago for the week of 2022-02-18, the average rate was 4.12%.

The average rate one year ago was 2.96%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.58%.

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

New York FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the New York level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 1,629 2.66% $10,210
FREEDOM MORTGAGE CORPORATION 1,126 2.81% $11,150
CROSSCOUNTRY MORTGAGE, LLC 1,004 3.03% $16,416
Mr. Cooper ( Nationstar Mortgage ) 748 3.06% $7,862
HOMEBRIDGE FINANCIAL SERVICES, INC. 706 2.86% $15,666
UNITED WHOLESALE MORTGAGE, LLC 687 2.68% $17,607
CALIBER HOME LOANS, INC. 644 2.71% $12,972
LOANDEPOT.COM, LLC 629 2.88% $14,813
NEWREZ LLC 518 2.81% $12,910
FAMILY FIRST FUNDING LLC 455 3.09% $13,914
NATIONWIDE MORTGAGE BANKERS, INC. 446 3.09% $20,515
Advisors Mortgage Group, L.L.C. 440 2.91% $11,187
AMERICAN FINANCIAL NETWORK, INC. 438 3.07% $27,946
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 398 3.07% $18,645
HOME POINT FINANCIAL CORPORATION 395 2.63% $13,233
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 391 3.10% $12,927
LAKEVIEW LOAN SERVICING, LLC 390 2.90% $7,076
NJ LENDERS CORP. 388 2.80% $13,224
PENNYMAC LOAN SERVICES, LLC 381 2.89% $7,808
Carrington Mortgage Services, LLC 345 3.13% $14,406
Equity Prime Mortgage LLC 331 3.12% $10,756
Paramount Residential Mortgage Group, Inc. 326 3.13% $13,901
The Federal Savings Bank 323 2.73% $21,507
FINANCE OF AMERICA MORTGAGE LLC 295 2.77% $17,038
UNITED MORTGAGE CORP. 293 2.95% $17,574
InterContinental Capital Group, Inc 220 2.94% $17,067
UNITED NORTHERN MORTGAGE BANKERS LIMITED 218 2.97% $17,556
Nations Lending Corporation 211 3.11% $13,753
GUARANTEED RATE, INC. 208 2.84% $13,911
CONTOUR MORTGAGE CORPORATION 194 2.95% $24,212
MLB RESIDENTIAL LENDING, LLC 190 3.16% $17,339
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 181 3.02% $15,416
ABSOLUTE HOME MORTGAGE CORPORATION 180 3.01% $13,626
FIRST ALLIANCE HOME MORTGAGE, LLC 161 2.97% $13,842
Northpointe Bank 139 2.90% $13,868
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 133 3.04% $25,791
JET DIRECT FUNDING CORP 115 3.07% $25,464
Gateway First Bank 106 2.97% $10,083
ROUNDPOINT MORTGAGE SERVICING CORPORATION 106 3.02% $15,098
BOND STREET MORTGAGE, LLC 98 2.87% $13,419
First Guaranty Mortgage Corporation 97 2.85% $13,079
JPMorgan Chase Bank 95 2.91% $11,386
MID-ISLAND MORTGAGE CORP. 92 2.80% $14,082
SUN WEST MORTGAGE COMPANY, INC. 92 2.95% $19,603
Atlantic Home Loans, Inc. 92 2.95% $13,167
Flagstar Bank, FSB 90 2.85% $20,851
AmeriHome Mortgage Company, LLC 88 2.79% $6,915
FM Home Loans, LLC 86 2.75% $16,078
East Coast Capital Corp. 86 3.02% $22,363
PANORAMA MORTGAGE GROUP, LLC 85 3.34% $15,342
Manufacturers and Traders Trust Company 84 2.80% $13,642
MORTGAGE ACCESS CORP. 82 3.01% $13,204
MOVEMENT MORTGAGE, LLC 81 2.96% $12,639
PLAZA HOME MORTGAGE, INC. 75 2.80% $20,896
JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 75 3.17% $14,095
VILLAGE CAPITAL & INVESTMENT LLC 68 2.80% $4,055
Plains Commerce Bank 66 2.80% $11,971
Lakeview Community Capital, LLC 65 2.92% $6,731
US MORTGAGE CORPORATION 63 3.06% $18,239
ENVOY MORTGAGE, LTD 63 3.03% $14,106
RESIDENTIAL HOME FUNDING CORP. 62 3.06% $14,792
PLANET HOME LENDING, LLC 59 2.75% $7,998
GREENTREE MORTGAGE COMPANY, L.P. 59 2.90% $9,291
GUARANTEED RATE AFFINITY, LLC 58 2.73% $13,395
ALLIED MORTGAGE GROUP, INC. 58 2.99% $12,340
BROKER SOLUTIONS, INC. 57 2.99% $10,956
First Home Bank 56 2.94% $17,141
Bank of America 54 2.88% $10,915
GET A RATE LLC 54 2.82% $12,503
CMG MORTGAGE, INC. 53 2.84% $15,933
NP, Inc. 52 2.99% $13,945
EMM LOANS LLC 52 3.04% $14,654
Sierra Pacific Mortgage Company, Inc. 48 2.76% $13,113
AMERISAVE MORTGAGE CORPORATION 47 2.95% $11,564
MLD MORTGAGE INC. 45 2.81% $12,065
Prosperity Home Mortgage, LLC 45 3.03% $11,656
Citizens Bank 45 2.67% $14,786
BLAIR SERVICES OF AMERICA INC. 44 3.01% $20,446
GREENWAY MORTGAGE FUNDING CORP. 44 3.01% $13,004
U.S. Bank 43 2.67% $12,571
VAN DYK MORTGAGE CORPORATION 43 3.15% $12,816
PRIMELENDING, A PLAINSCAPITAL COMPANY 43 3.19% $12,351
Mortgage Unlimited, L.L.C. 42 2.92% $14,404
CLIFFCO, INC. 41 3.13% $24,126
Financial Freedom Mortgage, LLC 38 3.06% $13,019
NFM, INC. 36 3.28% $12,746
SUCCESS MORTGAGE PARTNERS, INC. 35 3.14% $12,807
OCEANSIDE MORTGAGE COMPANY 35 2.52% $5,076
DHI MORTGAGE COMPANY, LTD. 35 2.66% $12,076
EMBRACE HOME LOANS, INC. 35 2.72% $14,698
RELIANCE FIRST CAPITAL, LLC 35 2.79% $19,903
TOTAL MORTGAGE SERVICES, LLC 33 3.13% $18,701
1st Constitution Bank 30 2.96% $10,111
ARC HOME LLC 28 2.85% $23,258
OCMBC, INC. 27 2.86% $12,815
PATRIOT ONE MORTGAGE BANKERS, LLC 27 2.98% $26,677
Evesham Mortgage, LLC 26 3.15% $9,958
PRIMARY RESIDENTIAL MORTGAGE, INC. 26 3.10% $12,611
HARTFORD FUNDING, LTD. 24 3.10% $21,497
HOMESIDE FINANCIAL, LLC 24 2.84% $9,809
MILLENIUM HOME MORTGAGE, LLC 24 2.87% $13,810
DRAPER AND KRAMER MORTGAGE CORP. 23 3.20% $10,474
TD Bank 22 2.84% $11,430
GLENDENNING MORTGAGE CORPORATION 22 2.86% $9,608
MUTUAL OF OMAHA MORTGAGE, INC. 22 3.04% $14,161
Quontic Bank 22 2.98% $20,025
AmRes Corporation 21 2.95% $13,535
WALL STREET MORTGAGE BANKERS, LTD. 20 2.88% $21,763
GENNEXT FUNDING, LLC 20 3.20% $12,703
ARK-LA-TEX FINANCIAL SERVICES, LLC. 18 3.20% $11,480
NATION ONE MORTGAGE CORPORATION 18 3.35% $11,893
ASSOCIATED MORTGAGE BANKERS, INC. 18 3.01% $20,686
MDE Home Loans, LLC 17 2.92% $15,178
Hometown Equity Mortgage, LLC 16 3.10% $17,008
UNION HOME MORTGAGE CORP. 15 3.09% $11,438
Luxury Mortgage Corp. 15 2.83% $15,497
HARBORONE MORTGAGE, LLC 15 2.82% $11,333
BAYSHORE MORTGAGE FUNDING, LLC 15 3.33% $12,226
Mortgage World Bankers, Inc. 14 2.80% $24,919
PNC Bank 14 2.88% $11,740
Wells Fargo Bank 13 3.15% $12,831
TIDEWATER MORTGAGE SERVICES, INC. 13 2.81% $10,703
Acre Mortgage and Financial Inc 12 3.23% $13,661
MORIA DEVELOPMENT, INC. 11 3.14% $11,841
Residential Mortgage Solutions, Inc. 11 2.64% $10,687
TOWNE MORTGAGE COMPANY 11 2.67% $16,928
DEVELOPER'S MORTGAGE COMPANY 11 3.09% $14,006
HOMESTEAD FUNDING CORP. 11 3.22% $14,507
Valley National Bank 10 2.96% $13,847
Bank of England 10 3.24% $15,378
PHH Mortgage Corporation 9 3.26% $8,871
MICHIGAN MUTUAL, INC. 9 3.13% $10,251
GENEVA FINANCIAL, LLC 9 3.18% $13,131
First Savings Bank 8 2.80% $24,378
Strong Home Mortgage, LLC 8 2.55% $9,524
1st Colonial Community Bank 8 2.83% $10,567
AMERICA'S CHOICE HOME LOANS LP 7 3.14% $10,319
Kwik Mortgage Corporation 7 2.82% $9,850
A&D Mortgage LLC 7 3.41% $14,090
INTERSTATE HOME LOAN CENTER, INC. 7 3.14% $12,807
CHURCHILL MORTGAGE CORPORATION 7 2.55% $17,172
SOVEREIGN LENDING GROUP INCORPORATED 7 2.48% $11,541
FBC MORTGAGE, LLC 6 2.94% $8,401
UNITED SECURITY FINANCIAL CORP 6 2.69% $10,871
Magnolia Bank 6 3.00% $16,218
AMERICAN FINANCIAL RESOURCES, INC. 6 3.25% $15,874
AMERICAN FINANCING CORPORATION 6 2.94% $12,058
Bethpage Federal Credit Union 6 3.19% $4,594
Fulton Bank 6 2.88% $9,192
Barrington Bank & Trust Company, N.A. 6 3.29% $13,370
ATLANTIS MORTGAGE CO., INC. 6 2.96% $12,342
INLAND BANK & TRUST 6 2.77% $14,016
ARK MORTGAGE, INC. 5 2.80% $28,243
LYNX MORTGAGE BANK LLC 5 2.85% $16,133
Princeton Mortgage Corporation 5 2.90% $10,623
Low VA Rates, LLC 5 3.00% $6,738
Wyndham Capital Mortgage, Inc. 5 2.70% $8,360
NATIONS DIRECT MORTGAGE, LLC 5 3.08% $17,972
Evolve Bank & Trust 5 2.90% $13,282
Republic Bank 5 2.83% $6,567
HAMILTON HOME LOANS, INC. 5 3.05% $17,239
KeyBank 5 2.95% $13,647
First Federal Bank 4 2.78% $13,450
BETTER MORTGAGE CORPORATION 4 2.81% $9,298
LOANPAL, LLC 4 2.78% $13,303
AMERICAN FEDERAL MORTGAGE CORPORATION 4 2.63% $11,736
MEMBER FIRST MORTGAGE, LLC 4 3.19% $11,707
LOANLEADERS OF AMERICA, INC. 4 3.06% $14,734
EAGLE HOME MORTGAGE, LLC 4 3.22% $10,577
Home Mortgage Alliance Corp 4 3.05% $11,555
NATIONWIDE EQUITIES CORPORATION 4 2.78% $18,598
Summit Mortgage Corporation 4 3.03% $10,494
NETWORK CAPITAL FUNDING CORPORATION 4 2.94% $16,579
CITY FIRST MORTGAGE SERVICES, L.L.C. 4 3.09% $16,520
Lakeland Bank 4 2.69% $11,307
STEARNS LENDING, LLC 3 2.50% $12,889
ACADEMY MORTGAGE CORP. 3 2.63% $13,271
APEX HOME LOANS, INC. 3 2.71% $20,139
Citibank 3 2.83% $13,975
CLEARPATH LENDING 3 3.00% $6,736
Columbia Bank 3 3.00% $12,708
EQUITY NOW INC. 3 3.13% $17,620
HOMESPIRE MORTGAGE CORPORATION 3 2.79% $11,975
INTELLILOAN, INC. 3 2.71% $6,357
Keystone Funding, Inc. 3 2.79% $6,584
LADERA LENDING, INC. 3 2.96% $9,098
LIBERTY HOME MORTGAGE CORPORATION 3 2.79% $13,242
Meridian Bank Corporation 3 2.96% $11,500
Mortgage Research Center, LLC 3 3.12% $10,011
PARKSIDE LENDING, LLC 3 2.75% $17,272
Prime Choice Funding Inc. 3 2.88% $9,233
RESIDENTIAL HOME MORTGAGE CORPORATION 3 3.38% $9,723
Santander Bank, N.A. 3 2.50% $14,085
SUNMARK FEDERAL CREDIT UNION 3 3.17% $11,708
The Huntington National Bank 3 2.79% $11,912
Reliant Bank 2 2.88% $15,000
LENDING CAPITAL GROUP Inc 2 2.69% $12,935
Peoples Bank 2 3.44% $15,602
Amerifirst Financial, Inc. 2 2.56% $7,781
FIDELITY DIRECT MORTGAGE, LLC 2 3.25% $24,961
Huntingdon Valley Bank 2 2.81% $14,354
Presidential Bank, FSB 2 3.38% $14,783
NATIONS RELIABLE LENDING, LLC 1 2.99% $15,749
MORTGAGE CAPITAL PARTNERS, INC. 1 2.25% $10,742
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 2.50% $19,192
RESIDENTIAL MORTGAGE SERVICES, INC. 1 2.75% $9,877
Mortgage America, Inc. 1 3.25% $5,365
MID AMERICA MORTGAGE, INC. 1 3.75% $5,135
ROYAL UNITED MORTGAGE LLC 1 4.25% $4,900
Watermark Capital, Inc. 1 2.25% $9,243
LENOX FINANCIAL MORTGAGE CORPORATION 1 3.13% $15,352
LAND HOME FINANCIAL SERVICES, INC. 1 3.75% $25,277
JAMES B. NUTTER & COMPANY 1 2.75% $7,460
Ixonia Bank 1 2.75% $14,003
Investors Bank 1 3.13% $14,965
AMERICAN HERITAGE FCU 1 3.13% $6,924
HUNT MORTGAGE CORPORATION 1 3.25% $14,038
Hometown Lenders, Inc. 1 3.00% $18,095
AMCAP MORTGAGE, LTD. 1 2.88% $10,924
TIAA, FSB 1 2.75% $12,888
Home Loan Investment Bank, F.S.B. 1 2.38% $6,890
GuardHill Financial Corp. 1 3.00% $14,843
GUARANTY HOME MORTGAGE CORPORATION 1 2.63% $11,967
TruHome Solutions, LLC 1 3.00% $13,525
FIRST HOME MORTGAGE CORPORATION 1 2.75% $4,864
FIRST HERITAGE FINANCIAL, LLC 1 3.25% $8,288
EVERETT FINANCIAL, INC. 1 3.00% $11,039
DATA MORTGAGE, INC. 1 2.75% $10,911
Unity Bank 1 3.50% $13,562
Commerce Home Mortgage, Inc. 1 3.50% $17,820
CELEBRITY HOME LOANS, LLC 1 3.13% $27,848
BRIDGEVIEW MORTGAGE CORP. 1 3.63% $24,628
VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.88% $4,289
BEST CAPITAL FUNDING 1 3.00% $43,587
Victorian Finance, LLC 1 2.88% $9,376
PINNACLE MORTGAGE, INC. 1 2.50% $10,183
PIKE CREEK MORTGAGE SERVICES, INC. 1 5.00% $3,446
People's United Bank 1 3.13% $13,476
Peoples National Bank , N.A. 1 2.75% $9,805
POLARIS HOME FUNDING CORP. 1 2.88% $14,873
PENTAGON FEDERAL CREDIT UNION 1 2.25% $14,129
Paramount Bank 1 2.38% $11,776
NVR Mortgage Finance, Inc. 1 3.13% $15,193
NORTHPOINT MORTGAGE, INC. 1 3.00% $10,886
NEW DAY FINANCIAL, LLC 1 3.38% $3,567
NBKC BANK 1 2.75% $10,193

The top New York FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,629 FHA loans originated. Their average total fees are $10,210, which is $940 lower than the next largest lender, FREEDOM MORTGAGE CORPORATION.

The lowest fee New York FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($4,055), OCEANSIDE MORTGAGE COMPANY ($5,076), Lakeview Community Capital, LLC ($6,731), AmeriHome Mortgage Company, LLC ($6,915) and LAKEVIEW LOAN SERVICING, LLC ($7,076).

The lowest rate New York FHA lenders (with over 10 loans originated) are OCEANSIDE MORTGAGE COMPANY (2.52%), HOME POINT FINANCIAL CORPORATION (2.63%), Residential Mortgage Solutions, Inc. (2.64%), DHI MORTGAGE COMPANY, LTD. (2.66%) and QUICKEN LOANS, LLC (2.66%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - New York (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 $479,990 (11.9%) $1,120,433 (11.2%) 1.77 57,187
2018-02-01 $499,950 (11.9%) $1,143,135 (8.6%) 1.80 60,843
2018-03-01 $520,000 (13.3%) $1,127,161 (6.0%) 1.80 64,252
2018-04-01 $534,450 (12.5%) $1,117,910 (-0.1%) 1.79 69,662
2018-05-01 $549,000 (11.1%) $1,125,466 (1.1%) 1.83 76,071
2018-06-01 $549,000 (10.9%) $1,100,381 (0.9%) 1.83 79,722
2018-07-01 $549,000 (12.3%) $1,089,758 (2.1%) 1.83 80,369
2018-08-01 $532,450 (11.0%) $1,037,144 (-2.0%) 1.78 79,480
2018-09-01 $535,000 (10.3%) $1,040,837 (-2.6%) 1.79 80,337
2018-10-01 $538,312 (10.2%) $1,047,397 (-1.4%) 1.80 80,917
2018-11-01 $535,000 (10.3%) $1,059,739 (0.1%) 1.79 78,103
2018-12-01 $525,000 (9.4%) $1,060,260 (-0.8%) 1.80 70,729
2019-01-01 $520,000 (8.3%) $1,060,952 (-5.3%) 1.79 65,203
2019-02-01 $528,500 (5.7%) $1,068,687 (-6.5%) 1.77 67,311
2019-03-01 $540,714 (4.0%) $1,081,156 (-4.1%) 1.76 71,501
2019-04-01 $556,500 (4.1%) $1,091,209 (-2.4%) 1.75 76,385
2019-05-01 $569,500 (3.7%) $1,091,152 (-3.1%) 1.76 82,849
2019-06-01 $569,000 (3.6%) $1,083,706 (-1.5%) 1.75 85,761
2019-07-01 $559,500 (1.9%) $1,066,914 (-2.1%) 1.74 84,579
2019-08-01 $553,989 (4.1%) $1,045,028 (0.8%) 1.74 82,599
2019-09-01 $550,461 (2.9%) $1,041,042 (0.0%) 1.75 80,488
2019-10-01 $558,028 (3.7%) $1,070,885 (2.2%) 1.78 80,248
2019-11-01 $550,000 (2.8%) $1,081,547 (2.1%) 1.77 75,510
2019-12-01 $553,528 (5.4%) $1,114,237 (5.1%) 1.85 65,625
2020-01-01 $549,000 (5.6%) $1,113,984 (5.0%) 1.83 59,940
2020-02-01 $559,900 (5.9%) $1,115,474 (4.4%) 1.81 61,312
2020-03-01 $569,450 (5.3%) $1,116,442 (3.3%) 1.78 63,346
2020-04-01 $580,000 (4.2%) $1,187,911 (8.9%) 1.81 61,178
2020-05-01 $579,000 (1.7%) $1,135,762 (4.1%) 1.75 58,452
2020-06-01 $589,500 (3.6%) $1,136,559 (4.9%) 1.72 61,210
2020-07-01 $599,500 (7.2%) $1,149,009 (7.7%) 1.72 64,394
2020-08-01 $635,000 (14.6%) $1,227,096 (17.4%) 1.81 66,679
2020-09-01 $644,450 (17.1%) $1,236,828 (18.8%) 1.84 67,133
2020-10-01 $655,360 (17.4%) $1,300,695 (21.5%) 1.87 68,637
2020-11-01 $649,000 (18.0%) $1,284,039 (18.7%) 1.86 65,676
2020-12-01 $649,450 (17.3%) $1,317,463 (18.2%) 1.90 57,196
2021-01-01 $649,000 (18.2%) $1,356,030 (21.7%) 1.91 49,631
2021-02-01 $649,108 (15.9%) $1,370,351 (22.9%) 1.87 46,629
2021-03-01 $648,500 (13.9%) $1,361,646 (22.0%) 1.82 46,573
2021-04-01 $649,694 (12.0%) $1,374,697 (15.7%) 1.75 48,615
2021-05-01 $649,000 (12.1%) $1,356,538 (19.4%) 1.71 51,469
2021-06-01 $640,060 (8.6%) $1,320,359 (16.2%) 1.66 54,695
2021-07-01 $622,500 (3.8%) $1,276,979 (11.1%) 1.62 55,033
2021-08-01 $627,000 (-1.3%) $1,376,032 (12.1%) 1.65 57,049
2021-09-01 $631,868 (-2.0%) $1,410,300 (14.0%) 1.66 56,921
2021-10-01 $639,000 (-2.5%) $1,439,479 (10.7%) 1.68 57,262
2021-11-01 $655,000 (0.9%) $1,557,436 (21.3%) 1.73 54,263
2021-12-01 $664,000 (2.2%) $1,631,077 (23.8%) 1.77 46,763
2022-01-01 $675,000 (4.0%) $1,713,536 (26.4%) 1.80 40,031
New York's median listing price for 2022-01-01 was $675,000, a difference of $26,000 (4.0%) versus the prior year and $11,000 versus the prior month.

New York's median listing price comes in at 180% of the national average.

New York's average listing price for 2022-01-01 was $1,713,536, a difference of $357,506 (26.4%) versus the prior year and $82,459 versus the prior month.

For the 2022-01-01 period, New York had 40,031 MLS listings, a difference of -6,732 listings (-14%) versus the prior month and -9,600 listings (-19%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - New York (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 90 days 1,926 sqft
2018-02-01 82 days 1,910 sqft
2018-03-01 58 days 1,900 sqft
2018-04-01 56 days 1,918 sqft
2018-05-01 52 days 1,923 sqft
2018-06-01 53 days 1,944 sqft
2018-07-01 63 days 1,959 sqft
2018-08-01 67 days 1,950 sqft
2018-09-01 71 days 1,932 sqft
2018-10-01 69 days 1,912 sqft
2018-11-01 70 days 1,888 sqft
2018-12-01 82 days 1,872 sqft
2019-01-01 88 days 1,847 sqft
2019-02-01 82 days 1,850 sqft
2019-03-01 57 days 1,887 sqft
2019-04-01 52 days 1,931 sqft
2019-05-01 52 days 1,935 sqft
2019-06-01 57 days 1,964 sqft
2019-07-01 64 days 1,960 sqft
2019-08-01 72 days 1,952 sqft
2019-09-01 71 days 1,932 sqft
2019-10-01 67 days 1,924 sqft
2019-11-01 66 days 1,872 sqft
2019-12-01 84 days 1,854 sqft
2020-01-01 92 days 1,845 sqft
2020-02-01 77 days 1,860 sqft
2020-03-01 56 days 1,881 sqft
2020-04-01 56 days 1,872 sqft
2020-05-01 74 days 1,860 sqft
2020-06-01 77 days 1,888 sqft
2020-07-01 49 days 1,812 sqft
2020-08-01 45 days 1,734 sqft
2020-09-01 50 days 1,690 sqft
2020-10-01 49 days 1,645 sqft
2020-11-01 63 days 1,635 sqft
2020-12-01 75 days 1,588 sqft
2021-01-01 85 days 1,536 sqft
2021-02-01 84 days 1,515 sqft
2021-03-01 60 days 1,510 sqft
2021-04-01 49 days 1,514 sqft
2021-05-01 44 days 1,532 sqft
2021-06-01 45 days 1,550 sqft
2021-07-01 50 days 1,568 sqft
2021-08-01 49 days 1,547 sqft
2021-09-01 49 days 1,528 sqft
2021-10-01 53 days 1,504 sqft
2021-11-01 57 days 1,494 sqft
2021-12-01 68 days 1,449 sqft
2022-01-01 79 days 1,410 sqft
New York's median listing age (time on market) for 2022-01-01 was 79 days. This is -7% shorter than the same period one year ago.

New York's median square footage for active listings during the 2022-01-01 period was 1,410 sqft. One year prior, the average listing was 1,536 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).