New York FHA Loans

New York-Newark-Jersey City, NY-NJ-PA

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 271 lenders originated 41,631 FHA loans during 2021. The total origination value was $17,350,005,000, with an average FHA loan value of $416,757.

New York FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in New York averaged 5.34% for the week of 2022-08-05, compared to the national average (all FHA variants) of 5.305% for the same period.

The average rate for the prior week (2022-07-29) was 5.18% and one month ago for the week of 2022-07-01, the average rate was 5.27%.

The average rate one year ago was 3.07%.

For refis of the same type during the week of 2022-08-05, the average rate was 4.84%.

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 2,795 2.68% $10,137
FREEDOM MORTGAGE CORPORATION 2,042 2.83% $10,973
CROSSCOUNTRY MORTGAGE, LLC 1,557 3.04% $16,196
Mr. Cooper ( Nationstar Mortgage ) 1,297 3.09% $7,445
UNITED WHOLESALE MORTGAGE, LLC 1,220 2.68% $16,475
CALIBER HOME LOANS, INC. 1,193 2.71% $12,481
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1,126 3.12% $17,370
NATIONWIDE MORTGAGE BANKERS, INC. 1,069 3.12% $18,652
HOMEBRIDGE FINANCIAL SERVICES, INC. 1,064 2.88% $15,044
LOANDEPOT.COM, LLC 1,041 2.88% $14,557
NEWREZ LLC 946 2.80% $12,688
FAMILY FIRST FUNDING LLC 779 3.10% $13,861
HOME POINT FINANCIAL CORPORATION 701 2.66% $13,038
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 684 3.09% $12,912
AMERICAN FINANCIAL NETWORK, INC. 670 3.09% $26,265
NJ LENDERS CORP. 648 2.81% $13,085
UNITED MORTGAGE CORP. 628 2.98% $16,707
Paramount Residential Mortgage Group, Inc. 609 3.12% $14,489
PENNYMAC LOAN SERVICES, LLC 591 2.91% $7,669
FINANCE OF AMERICA MORTGAGE LLC 591 2.75% $15,839
The Federal Savings Bank 579 2.78% $19,007
LAKEVIEW LOAN SERVICING, LLC 573 2.90% $7,153
Carrington Mortgage Services, LLC 560 3.18% $14,102
Advisors Mortgage Group, L.L.C. 500 2.91% $11,375
CONTOUR MORTGAGE CORPORATION 472 2.98% $19,493
InterContinental Capital Group, Inc 461 3.02% $16,402
GUARANTEED RATE, INC. 416 2.86% $13,363
MLB RESIDENTIAL LENDING, LLC 407 3.14% $16,497
Equity Prime Mortgage LLC 402 3.13% $11,593
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 386 3.03% $15,178
UNITED NORTHERN MORTGAGE BANKERS LIMITED 352 2.96% $16,610
ABSOLUTE HOME MORTGAGE CORPORATION 345 3.03% $13,240
Nations Lending Corporation 314 3.13% $13,779
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 304 3.07% $22,254
East Coast Capital Corp. 297 3.00% $19,475
FIRST ALLIANCE HOME MORTGAGE, LLC 293 3.02% $13,842
Northpointe Bank 291 2.90% $13,720
JET DIRECT FUNDING CORP 286 3.04% $21,453
SUN WEST MORTGAGE COMPANY, INC. 250 3.05% $18,349
ROUNDPOINT MORTGAGE SERVICING CORPORATION 229 3.04% $14,408
MID-ISLAND MORTGAGE CORP. 206 2.82% $12,612
First Guaranty Mortgage Corporation 191 2.88% $12,701
JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 187 3.22% $14,498
Manufacturers and Traders Trust Company 161 2.76% $12,553
CLIFFCO, INC. 156 3.11% $18,563
EMBRACE HOME LOANS, INC. 155 2.77% $13,323
MOVEMENT MORTGAGE, LLC 154 3.03% $12,391
Atlantic Home Loans, Inc. 153 2.95% $12,736
PLAZA HOME MORTGAGE, INC. 151 2.85% $18,848
Flagstar Bank, FSB 147 2.84% $18,948
Gateway First Bank 144 2.99% $10,271
PANORAMA MORTGAGE GROUP, LLC 144 3.32% $15,383
JPMorgan Chase Bank 143 2.91% $11,049
BOND STREET MORTGAGE, LLC 141 2.88% $12,931
AmeriHome Mortgage Company, LLC 137 2.79% $6,997
US MORTGAGE CORPORATION 131 3.09% $17,180
MORTGAGE ACCESS CORP. 125 3.04% $13,064
VILLAGE CAPITAL & INVESTMENT LLC 123 2.81% $4,068
ALLIED MORTGAGE GROUP, INC. 123 3.05% $13,534
FM Home Loans, LLC 113 2.73% $15,623
PLANET HOME LENDING, LLC 106 2.75% $7,657
CMG MORTGAGE, INC. 103 2.83% $14,159
BROKER SOLUTIONS, INC. 103 2.95% $10,875
GUARANTEED RATE AFFINITY, LLC 102 2.72% $12,796
Lakeview Community Capital, LLC 101 2.90% $6,500
Citizens Bank 99 2.60% $13,792
RESIDENTIAL HOME FUNDING CORP. 96 3.10% $14,735
Bank of America 94 2.88% $10,702
AMERISAVE MORTGAGE CORPORATION 92 2.91% $11,176
Quontic Bank 92 3.14% $16,203
Plains Commerce Bank 92 2.84% $12,267
Mortgage Unlimited, L.L.C. 83 2.88% $14,123
RELIANCE FIRST CAPITAL, LLC 83 2.80% $17,566
HARTFORD FUNDING, LTD. 79 3.07% $18,111
ENVOY MORTGAGE, LTD 78 3.04% $14,181
Financial Freedom Mortgage, LLC 76 3.12% $13,000
EMM LOANS LLC 75 3.02% $15,416
GET A RATE LLC 74 2.82% $12,392
Sierra Pacific Mortgage Company, Inc. 73 2.75% $12,990
First Home Bank 70 3.03% $16,416
GREENTREE MORTGAGE COMPANY, L.P. 70 2.86% $9,465
MLD MORTGAGE INC. 68 2.81% $12,013
Bethpage Federal Credit Union 66 3.13% $4,087
SUCCESS MORTGAGE PARTNERS, INC. 66 3.17% $12,029
ACADEMY MORTGAGE CORP. 64 2.67% $13,907
Prosperity Home Mortgage, LLC 64 3.01% $11,838
U.S. Bank 62 2.67% $12,265
GREENWAY MORTGAGE FUNDING CORP. 61 3.02% $12,543
NP, Inc. 60 3.02% $13,932
BLAIR SERVICES OF AMERICA INC. 55 3.03% $20,549
PRIMELENDING, A PLAINSCAPITAL COMPANY 51 3.18% $12,407
MILLENIUM HOME MORTGAGE, LLC 50 2.88% $13,805
OCMBC, INC. 50 2.84% $13,040
ARC HOME LLC 48 2.91% $20,321
TOTAL MORTGAGE SERVICES, LLC 46 3.14% $18,078
NFM, INC. 46 3.30% $12,858
VAN DYK MORTGAGE CORPORATION 45 3.13% $12,796
1st Constitution Bank 42 3.00% $10,390
ASSOCIATED MORTGAGE BANKERS, INC. 41 2.93% $17,893
OCEANSIDE MORTGAGE COMPANY 41 2.52% $5,267
TD Bank 39 2.84% $12,170
PATRIOT ONE MORTGAGE BANKERS, LLC 38 2.98% $24,858
LYNX MORTGAGE BANK LLC 37 2.90% $14,834
HOMESIDE FINANCIAL, LLC 37 2.91% $10,311
Evesham Mortgage, LLC 36 3.13% $10,580
INTERSTATE HOME LOAN CENTER, INC. 35 3.13% $14,648
DHI MORTGAGE COMPANY, LTD. 35 2.66% $12,076
MUTUAL OF OMAHA MORTGAGE, INC. 34 3.03% $13,366
GENNEXT FUNDING, LLC 33 3.24% $12,037
PRIMARY RESIDENTIAL MORTGAGE, INC. 32 3.14% $12,443
ARK-LA-TEX FINANCIAL SERVICES, LLC. 30 3.28% $10,653
Valley National Bank 30 2.97% $14,697
Summit Mortgage Corporation 29 2.94% $8,221
BAYSHORE MORTGAGE FUNDING, LLC 28 3.14% $12,331
TOWNE MORTGAGE COMPANY 26 2.79% $16,151
Acre Mortgage and Financial Inc 26 3.24% $13,388
WALL STREET MORTGAGE BANKERS, LTD. 26 2.90% $20,648
PNC Bank 25 2.92% $11,072
DRAPER AND KRAMER MORTGAGE CORP. 25 3.20% $10,504
Wells Fargo Bank 25 3.21% $11,023
NATION ONE MORTGAGE CORPORATION 24 3.37% $11,978
GENEVA FINANCIAL, LLC 23 3.21% $13,647
MORIA DEVELOPMENT, INC. 22 3.31% $12,293
AmRes Corporation 22 2.97% $13,465
GLENDENNING MORTGAGE CORPORATION 22 2.86% $9,608
Luxury Mortgage Corp. 21 2.98% $15,144
CHURCHILL MORTGAGE CORPORATION 20 2.64% $14,499
Evolve Bank & Trust 20 3.09% $12,801
Bank of England 20 3.09% $15,318
HARBORONE MORTGAGE, LLC 20 2.81% $12,105
MDE Home Loans, LLC 19 2.91% $14,899
TIDEWATER MORTGAGE SERVICES, INC. 19 2.85% $11,207
Hometown Equity Mortgage, LLC 19 3.13% $16,615
UNION HOME MORTGAGE CORP. 18 3.09% $11,759
Mortgage World Bankers, Inc. 17 2.86% $25,089
First Savings Bank 16 2.87% $20,062
Hometown Lenders, Inc. 16 3.01% $10,584
DEVELOPER'S MORTGAGE COMPANY 16 3.14% $12,720
SOVEREIGN LENDING GROUP INCORPORATED 15 2.69% $10,316
PHH Mortgage Corporation 15 3.13% $8,034
LENDING CAPITAL GROUP Inc 15 2.98% $12,764
HOMESTEAD FUNDING CORP. 15 3.14% $13,468
Residential Mortgage Solutions, Inc. 15 2.67% $10,668
A&D Mortgage LLC 14 3.37% $16,204
Barrington Bank & Trust Company, N.A. 12 3.18% $11,624
The Huntington National Bank 12 2.78% $10,117
Magnolia Bank 12 2.96% $13,930
Princeton Mortgage Corporation 12 2.85% $10,913
NATIONS DIRECT MORTGAGE, LLC 12 3.01% $13,897
Strong Home Mortgage, LLC 11 2.53% $10,168
MICHIGAN MUTUAL, INC. 10 3.16% $10,525
APEX HOME LOANS, INC. 10 2.93% $16,489
Kwik Mortgage Corporation 10 2.84% $9,768
1st Colonial Community Bank 10 2.86% $10,273
NVR Mortgage Finance, Inc. 10 3.02% $16,220
RESIDENTIAL HOME MORTGAGE CORPORATION 9 3.29% $8,067
LADERA LENDING, INC. 9 3.10% $9,307
INLAND BANK & TRUST 9 2.79% $14,796
STEARNS LENDING, LLC 9 2.76% $10,069
INTELLILOAN, INC. 8 2.80% $8,166
Republic Bank 8 2.83% $7,202
AMERICAN FINANCING CORPORATION 8 2.83% $12,064
First Federal Bank 8 2.81% $14,284
FBC MORTGAGE, LLC 8 2.89% $8,590
Keystone Funding, Inc. 8 2.53% $8,171
LOANLEADERS OF AMERICA, INC. 7 2.89% $13,996
EVERETT FINANCIAL, INC. 7 3.59% $10,686
Fulton Bank 7 2.95% $9,196
HAMILTON HOME LOANS, INC. 7 3.21% $16,938
BRIDGEVIEW MORTGAGE CORP. 7 3.18% $21,496
LOANPAL, LLC 7 2.59% $15,375
ARK MORTGAGE, INC. 7 2.84% $23,516
AMERICA'S CHOICE HOME LOANS LP 7 3.14% $10,319
AMERICAN FINANCIAL RESOURCES, INC. 7 3.25% $16,294
AMERICAN FEDERAL MORTGAGE CORPORATION 7 2.57% $11,788
Wyndham Capital Mortgage, Inc. 7 2.73% $8,932
UNITED SECURITY FINANCIAL CORP 6 2.69% $10,871
SWBC MORTGAGE CORPORATION 6 3.31% $6,184
ATLANTIS MORTGAGE CO., INC. 6 2.96% $12,342
Mortgage Research Center, LLC 6 3.04% $12,975
Low VA Rates, LLC 6 3.00% $6,648
BETTER MORTGAGE CORPORATION 6 2.75% $9,751
Citibank 5 2.95% $12,640
NETWORK CAPITAL FUNDING CORPORATION 5 2.90% $15,564
Santander Bank, N.A. 5 2.75% $12,224
Home Mortgage Alliance Corp 5 3.09% $11,115
KeyBank 5 2.95% $13,647
EAGLE HOME MORTGAGE, LLC 5 3.20% $10,491
Lakeland Bank 5 2.65% $10,890
CLEARPATH LENDING 5 3.00% $7,256
NATIONWIDE EQUITIES CORPORATION 5 2.78% $17,713
Peoples Bank 4 3.38% $14,764
MID AMERICA MORTGAGE, INC. 4 3.00% $4,370
Meridian Bank Corporation 4 3.00% $15,226
MEMBER FIRST MORTGAGE, LLC 4 3.19% $11,707
EQUITY NOW INC. 4 3.06% $17,497
LENOX FINANCIAL MORTGAGE CORPORATION 4 2.81% $12,308
Prime Choice Funding Inc. 4 2.91% $8,449
Huntingdon Valley Bank 4 2.88% $11,917
HOMESPIRE MORTGAGE CORPORATION 4 2.75% $12,492
CITY FIRST MORTGAGE SERVICES, L.L.C. 4 3.09% $16,520
Columbia Bank 4 3.09% $12,544
ROYAL UNITED MORTGAGE LLC 3 3.75% $5,952
North American Savings Bank, F.S.B. 3 2.63% $8,871
Reliant Bank 3 2.92% $16,108
LIBERTY HOME MORTGAGE CORPORATION 3 2.79% $13,242
FIRST HOME MORTGAGE CORPORATION 3 3.08% $7,468
Victorian Finance, LLC 3 3.00% $13,315
SUNMARK FEDERAL CREDIT UNION 3 3.17% $11,708
PARKSIDE LENDING, LLC 3 2.75% $17,272
RESIDENTIAL MORTGAGE SERVICES, INC. 3 3.54% $17,801
BEST CAPITAL FUNDING 3 3.46% $21,671
AMERICAN PACIFIC MORTGAGE CORPORATION 2 3.19% $13,524
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 2 3.13% $15,850
FIDELITY DIRECT MORTGAGE, LLC 2 3.25% $24,961
Unity Bank 2 3.56% $12,462
Univest Bank and Trust Co. 2 2.63% $12,143
GUARANTY HOME MORTGAGE CORPORATION 2 2.63% $9,892
FIRST HERITAGE FINANCIAL, LLC 2 3.06% $9,096
Home Loan Investment Bank, F.S.B. 2 2.44% $5,803
PINNACLE MORTGAGE, INC. 2 2.44% $10,110
CELEBRITY HOME LOANS, LLC 2 3.13% $23,630
POLARIS HOME FUNDING CORP. 2 3.00% $14,877
TIAA, FSB 2 2.75% $12,017
Amerifirst Financial, Inc. 2 2.56% $7,781
Paramount Bank 2 2.44% $10,390
JAMES B. NUTTER & COMPANY 2 2.88% $5,310
TruHome Solutions, LLC 2 2.88% $11,824
Presidential Bank, FSB 2 3.38% $14,783
DATA MORTGAGE, INC. 2 2.94% $9,057
NORTHPOINT MORTGAGE, INC. 1 3.00% $10,886
NATIONS RELIABLE LENDING, LLC 1 2.99% $15,749
NBKC BANK 1 2.75% $10,193
Ameris Bank 1 3.00% $12,727
ACADEMY MORTGAGE CORPORATION 1 3.25% $6,001
Commerce Home Mortgage, Inc. 1 3.50% $17,820
VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.88% $4,289
Axos Bank 1 2.88% $14,063
PENTAGON FEDERAL CREDIT UNION 1 2.25% $14,129
Mortgage America, Inc. 1 3.25% $5,365
Peoples National Bank , N.A. 1 2.75% $9,805
People's United Bank 1 3.13% $13,476
PIKE CREEK MORTGAGE SERVICES, INC. 1 5.00% $3,446
LAND HOME FINANCIAL SERVICES, INC. 1 3.75% $25,277
Berkshire Bank 1 2.50% $10,054
AMERICAN HERITAGE FCU 1 3.13% $6,924
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 1 3.75% $21,269
Watermark Capital, Inc. 1 2.25% $9,243
KELLER MORTGAGE, LLC 1 2.75% $7,218
Quaint Oak Mortgage, LLC 1 2.88% $7,327
Ixonia Bank 1 2.75% $14,003
Investors Bank 1 3.13% $14,965
Willamette Valley Bank 1 3.00% $13,768
HUNT MORTGAGE CORPORATION 1 3.25% $14,038
NEW DAY FINANCIAL, LLC 1 3.38% $3,567
ZILLOW HOME LOANS, LLC 1 3.63% $6,987
RUOFF MORTGAGE COMPANY, INC. 1 3.38% $6,310
HUDSON VALLEY CREDIT UNION 1 3.13% $7,376
SIRVA MORTGAGE, INC. 1 2.63% $0
SOUTHWEST STAGE FUNDING, LLC 1 2.88% $7,623
MORTGAGE CAPITAL PARTNERS, INC. 1 2.25% $10,742
Blue Ridge Bank 1 3.00% $13,943
GuardHill Financial Corp. 1 3.00% $14,843
AMERICAN ADVISORS GROUP 1 2.63% $11,452
NORWICH COMMERCIAL GROUP, INC. 1 2.25% $18,480
T2 FINANCIAL LLC 1 3.25% $5,991
AMCAP MORTGAGE, LTD. 1 2.88% $10,924
The Honesdale National Bank 1 3.00% $7,981
The Union Bank Company 1 2.63% $10,761
GSF Mortgage Corporation 1 2.25% $8,802
Goldwater Bank, N.A. 1 2.88% $9,945

The top New York FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 2,795 FHA loans originated. Their average total fees are $10,137, which is $836 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 ($4,068), Bethpage Federal Credit Union ($4,087), OCEANSIDE MORTGAGE COMPANY ($5,267), Lakeview Community Capital, LLC ($6,500) and AmeriHome Mortgage Company, LLC ($6,997).

The lowest rate New York FHA lenders (with over 10 loans originated) are OCEANSIDE MORTGAGE COMPANY (2.52%), Strong Home Mortgage, LLC (2.53%), Citizens Bank (2.60%), CHURCHILL MORTGAGE CORPORATION (2.64%) and HOME POINT FINANCIAL CORPORATION (2.66%).

New York FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA BERGEN 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA ESSEX 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA HUDSON 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA HUNTERDON 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA MIDDLESEX 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA MONMOUTH 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA MORRIS 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA OCEAN 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA PASSAIC 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA SOMERSET 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA SUSSEX 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA UNION 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA BRONX 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA KINGS 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA NASSAU 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA NEW YORK 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA PUTNAM 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA QUEENS 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA RICHMOND 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA ROCKLAND 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA SUFFOLK 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA WESTCHESTER 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
NEW YORK-NEWARK-JERSEY CITY, NY-NJ-PA PIKE 2022 $970,800 $1,243,050 $1,502,475 $1,867,275

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
2022-02-01 $697,000 (7.4%) $1,699,961 (24.1%) 1.78 40,529
2022-03-01 $699,000 (7.8%) $1,700,187 (24.9%) 1.73 42,816
2022-04-01 $715,000 (10.1%) $1,684,560 (22.5%) 1.68 45,562
2022-05-01 $720,000 (10.9%) $1,667,529 (22.9%) 1.61 51,069
2022-06-01 $700,208 (9.4%) $1,599,569 (21.2%) 1.56 54,860
New York's median listing price for 2022-06-01 was $700,208, a difference of $60,148 (9.4%) versus the prior year and $-19,792 versus the prior month.

New York's median listing price comes in at 156% of the national average.

New York's average listing price for 2022-06-01 was $1,599,569, a difference of $279,210 (21.2%) versus the prior year and $-67,960 versus the prior month.

For the 2022-06-01 period, New York had 54,860 MLS listings, a difference of 3,791 listings (7%) versus the prior month and 165 listings (0%) 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
2022-02-01 64 days 1,400 sqft
2022-03-01 47 days 1,402 sqft
2022-04-01 44 days 1,424 sqft
2022-05-01 43 days 1,494 sqft
2022-06-01 45 days 1,536 sqft
New York's median listing age (time on market) for 2022-06-01 was 45 days. This is 0% longer than the same period one year ago.

New York's median square footage for active listings during the 2022-06-01 period was 1,536 sqft. One year prior, the average listing was 1,550 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).