Ogdensburg FHA Loan Rates, Closing Costs & Stats

Ogdensburg-Massena, 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.

    Ogdensburg's 23 lenders originated 83 FHA loans during 2023. The total origination value was $11,445,000, with an average FHA loan value of $137,892.

    Ogdensburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Ogdensburg averaged 7.18% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Ogdensburg's average FHA mortgage closing costs are $6,172.

    The average rate for the prior week (2024-04-12) was 6.77% and one month ago for the week of 2024-03-15, the average rate was 6.64%.

    The average rate one year ago was 6.47%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

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

    Ogdensburg 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 Ogdensburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 24 6.66% $8,221
    NORTHERN CREDIT UNION 9 6.92% $7,248
    HOMESTEAD FUNDING CORP. 8 6.63% $4,349
    MOVEMENT MORTGAGE, LLC 7 6.95% $8,608
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 7 7.23% $6,979
    Citizens Bank 2 5.75% $7,021
    SEFCU SERVICES, LLC 2 6.63% $7,400
    PENNYMAC LOAN SERVICES, LLC 2 6.25% $5,916
    LOANDEPOT.COM, LLC 2 6.44% $8,803
    Genesee Regional Bank 2 7.63% $8,422
    Union Savings Bank 1 6.88% $3,688
    UNITED WHOLESALE MORTGAGE, LLC 1 6.89% $5,832
    1ST PRIORITY MORTGAGE, INC. 1 5.88% $8,292
    Wells Fargo Bank 1 7.63% $6,591
    ABSOLUTE HOME MORTGAGE CORPORATION 1 7.13% $6,377
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $5,936
    Bank of England 1 7.75% $11,493
    CARDINAL FINANCIAL 1 7.25% $14,415
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $13,343
    GUARANTEED RATE, INC. 1 6.63% $9,564
    MID AMERICA MORTGAGE, INC. 1 7.25% $5,488
    PLAZA HOME MORTGAGE, INC. 1 7.25% $9,734
    ROYAL UNITED MORTGAGE LLC 1 6.75% $8,573

    The top Ogdensburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 24 FHA loans originated. Their average total fees are $8,221, which is $973 higher than the next largest lender, NORTHERN CREDIT UNION.

    The lowest fee Ogdensburg FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,221), .

    The lowest rate Ogdensburg FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.66%), .

    Ogdensburg FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    OGDENSBURG-MASSENA, NY ST. LAWRENCE 2022 $420,680 $538,650 $651,050 $809,150
    OGDENSBURG-MASSENA, NY ST. LAWRENCE 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Ogdensburg (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 $103,700 (3.8%) $143,273 (3.5%) 0.00 636
    2018-02-01 $105,000 (5.1%) $143,681 (2.8%) 0.00 631
    2018-03-01 $104,900 (-0.1%) $167,751 (15.9%) 0.00 643
    2018-04-01 $112,000 (1.9%) $170,816 (13.9%) 0.00 692
    2018-05-01 $116,475 (6.0%) $173,072 (14.9%) 0.00 742
    2018-06-01 $124,000 (13.5%) $174,771 (16.9%) 0.00 796
    2018-07-01 $124,900 (13.6%) $158,085 (4.5%) 0.00 861
    2018-08-01 $124,900 (10.6%) $157,437 (3.8%) 0.00 847
    2018-09-01 $124,900 (9.1%) $159,760 (5.0%) 0.00 846
    2018-10-01 $119,500 (4.0%) $158,864 (5.9%) 0.00 831
    2018-11-01 $119,000 (8.9%) $156,503 (5.2%) 0.00 792
    2018-12-01 $119,000 (13.3%) $155,242 (7.2%) 0.00 745
    2019-01-01 $115,475 (11.4%) $152,160 (6.2%) 0.00 689
    2019-02-01 $114,950 (9.5%) $149,873 (4.3%) 0.00 687
    2019-03-01 $120,286 (14.7%) $153,255 (-8.6%) 0.00 675
    2019-04-01 $120,736 (7.8%) $156,379 (-8.5%) 0.00 672
    2019-05-01 $125,000 (7.3%) $162,129 (-6.3%) 0.00 705
    2019-06-01 $128,000 (3.2%) $163,951 (-6.2%) 0.00 748
    2019-07-01 $128,375 (2.8%) $165,198 (4.5%) 0.00 754
    2019-08-01 $124,973 (0.1%) $163,161 (3.6%) 0.00 733
    2019-09-01 $124,932 (0.0%) $161,280 (1.0%) 0.00 706
    2019-10-01 $124,955 (4.6%) $160,473 (1.0%) 0.00 678
    2019-11-01 $125,000 (5.0%) $160,925 (2.8%) 0.00 621
    2019-12-01 $124,950 (5.0%) $160,196 (3.2%) 0.00 590
    2020-01-01 $119,250 (3.3%) $156,128 (2.6%) 0.00 551
    2020-02-01 $119,999 (4.4%) $155,520 (3.8%) 0.00 542
    2020-03-01 $124,350 (3.4%) $156,222 (1.9%) 0.00 525
    2020-04-01 $122,250 (1.3%) $158,831 (1.6%) 0.00 512
    2020-05-01 $127,000 (1.6%) $167,360 (3.2%) 0.00 499
    2020-06-01 $129,900 (1.5%) $175,548 (7.1%) 0.00 497
    2020-07-01 $131,000 (2.0%) $179,261 (8.5%) 0.00 479
    2020-08-01 $134,000 (7.2%) $177,269 (8.7%) 0.00 457
    2020-09-01 $127,000 (1.7%) $175,801 (9.0%) 0.00 441
    2020-10-01 $125,000 (0.0%) $170,301 (6.1%) 0.00 412
    2020-11-01 $122,500 (-2.0%) $168,635 (4.8%) 0.00 368
    2020-12-01 $120,000 (-4.0%) $168,859 (5.4%) 0.00 336
    2021-01-01 $119,250 (0.0%) $163,779 (4.9%) 0.00 295
    2021-02-01 $119,000 (-0.8%) $160,276 (3.1%) 0.00 281
    2021-03-01 $125,000 (0.5%) $175,408 (12.3%) 0.00 258
    2021-04-01 $130,625 (6.9%) $181,592 (14.3%) 0.00 259
    2021-05-01 $148,750 (17.1%) $190,968 (14.1%) 0.00 268
    2021-06-01 $149,900 (15.4%) $193,683 (10.3%) 0.00 299
    2021-07-01 $148,500 (13.4%) $190,062 (6.0%) 0.00 318
    2021-08-01 $148,250 (10.6%) $186,373 (5.1%) 0.00 316
    2021-09-01 $143,425 (12.9%) $185,923 (5.8%) 0.00 313
    2021-10-01 $137,500 (10.0%) $179,205 (5.2%) 0.00 302
    2021-11-01 $125,250 (2.2%) $174,539 (3.5%) 0.00 263
    2021-12-01 $110,000 (-8.3%) $162,748 (-3.6%) 0.00 255
    2022-01-01 $105,900 (-11.2%) $157,168 (-4.0%) 0.00 228
    2022-02-01 $104,975 (-11.8%) $155,178 (-3.2%) 0.00 214
    2022-03-01 $109,625 (-12.3%) $176,396 (0.6%) 0.00 171
    2022-04-01 $130,000 (-0.5%) $185,118 (1.9%) 0.00 184
    2022-05-01 $142,450 (-4.2%) $194,588 (1.9%) 0.00 207
    2022-06-01 $142,500 (-4.9%) $208,485 (7.6%) 0.00 240
    2022-07-01 $149,000 (0.3%) $205,935 (8.4%) 0.00 270
    2022-08-01 $152,450 (2.8%) $197,513 (6.0%) 0.00 284
    2022-09-01 $152,125 (6.1%) $192,691 (3.6%) 0.00 281
    2022-10-01 $144,650 (5.2%) $188,037 (4.9%) 0.00 278
    2022-11-01 $137,072 (9.4%) $182,623 (4.6%) 0.00 263
    2022-12-01 $132,700 (20.6%) $172,348 (5.9%) 0.00 242
    2023-01-01 $129,975 (22.7%) $163,227 (3.9%) 0.00 226
    2023-02-01 $131,897 (25.7%) $168,512 (8.6%) 0.00 199
    2023-03-01 $135,500 (23.6%) $178,370 (1.1%) 0.00 191
    2023-04-01 $139,950 (7.7%) $184,296 (-0.4%) 0.00 190
    2023-05-01 $149,900 (5.2%) $201,219 (3.4%) 0.00 200
    2023-06-01 $168,000 (17.9%) $201,550 (-3.3%) 0.00 236
    2023-07-01 $169,000 (13.4%) $204,942 (-0.5%) 0.00 251
    2023-08-01 $167,000 (9.5%) $200,111 (1.3%) 0.00 281
    2023-09-01 $161,250 (6.0%) $202,542 (5.1%) 0.00 280
    2023-10-01 $153,213 (5.9%) $200,564 (6.7%) 0.00 292
    2023-11-01 $149,950 (9.4%) $193,699 (6.1%) 0.00 278
    2023-12-01 $149,000 (12.3%) $198,104 (14.9%) 0.00 252
    2024-01-01 $141,950 (9.2%) $189,655 (16.2%) 0.00 227
    2024-02-01 $142,000 (7.7%) $186,869 (10.9%) 0.00 199
    2024-03-01 $148,500 (9.6%) $211,010 (18.3%) 0.00 201
    Ogdensburg's median listing price for 2024-03-01 was $148,500, a difference of $13,000 (9.6%) versus the prior year and $6,500 versus the prior month.

    Ogdensburg's median listing price comes in at 0% of the national average.

    Ogdensburg's average listing price for 2024-03-01 was $211,010, a difference of $32,640 (18.3%) versus the prior year and $24,141 versus the prior month.

    For the 2024-03-01 period, Ogdensburg had 201 MLS listings, a difference of 2 listings (1%) versus the prior month and 10 listings (5%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Ogdensburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,540 sqft
    2018-02-01 0 days 1,562 sqft
    2018-03-01 0 days 1,575 sqft
    2018-04-01 0 days 1,596 sqft
    2018-05-01 0 days 1,577 sqft
    2018-06-01 0 days 1,568 sqft
    2018-07-01 0 days 1,567 sqft
    2018-08-01 0 days 1,562 sqft
    2018-09-01 0 days 1,568 sqft
    2018-10-01 0 days 1,573 sqft
    2018-11-01 0 days 1,600 sqft
    2018-12-01 0 days 1,600 sqft
    2019-01-01 0 days 1,583 sqft
    2019-02-01 0 days 1,586 sqft
    2019-03-01 0 days 1,583 sqft
    2019-04-01 0 days 1,573 sqft
    2019-05-01 0 days 1,560 sqft
    2019-06-01 0 days 1,560 sqft
    2019-07-01 0 days 1,544 sqft
    2019-08-01 0 days 1,544 sqft
    2019-09-01 0 days 1,555 sqft
    2019-10-01 0 days 1,566 sqft
    2019-11-01 0 days 1,584 sqft
    2019-12-01 0 days 1,596 sqft
    2020-01-01 0 days 1,584 sqft
    2020-02-01 0 days 1,570 sqft
    2020-03-01 0 days 1,600 sqft
    2020-04-01 0 days 1,600 sqft
    2020-05-01 0 days 1,602 sqft
    2020-06-01 0 days 1,600 sqft
    2020-07-01 0 days 1,640 sqft
    2020-08-01 0 days 1,658 sqft
    2020-09-01 0 days 1,632 sqft
    2020-10-01 0 days 1,640 sqft
    2020-11-01 0 days 1,665 sqft
    2020-12-01 0 days 1,646 sqft
    2021-01-01 0 days 1,617 sqft
    2021-02-01 0 days 1,589 sqft
    2021-03-01 0 days 1,650 sqft
    2021-04-01 0 days 1,679 sqft
    2021-05-01 0 days 1,680 sqft
    2021-06-01 0 days 1,661 sqft
    2021-07-01 0 days 1,652 sqft
    2021-08-01 0 days 1,601 sqft
    2021-09-01 0 days 1,580 sqft
    2021-10-01 0 days 1,568 sqft
    2021-11-01 0 days 1,547 sqft
    2021-12-01 0 days 1,524 sqft
    2022-01-01 0 days 1,480 sqft
    2022-02-01 0 days 1,464 sqft
    2022-03-01 0 days 1,509 sqft
    2022-04-01 0 days 1,468 sqft
    2022-05-01 0 days 1,521 sqft
    2022-06-01 0 days 1,532 sqft
    2022-07-01 0 days 1,489 sqft
    2022-08-01 0 days 1,519 sqft
    2022-09-01 0 days 1,507 sqft
    2022-10-01 0 days 1,549 sqft
    2022-11-01 0 days 1,542 sqft
    2022-12-01 0 days 1,512 sqft
    2023-01-01 0 days 1,512 sqft
    2023-02-01 0 days 1,500 sqft
    2023-03-01 0 days 1,493 sqft
    2023-04-01 0 days 1,456 sqft
    2023-05-01 0 days 1,545 sqft
    2023-06-01 0 days 1,573 sqft
    2023-07-01 0 days 1,564 sqft
    2023-08-01 0 days 1,587 sqft
    2023-09-01 0 days 1,568 sqft
    2023-10-01 0 days 1,542 sqft
    2023-11-01 0 days 1,523 sqft
    2023-12-01 0 days 1,529 sqft
    2024-01-01 0 days 1,530 sqft
    2024-02-01 0 days 1,500 sqft
    2024-03-01 0 days 1,550 sqft
    Ogdensburg's median listing age (time on market) for 2024-03-01 was 0 days.

    Ogdensburg's median square footage for active listings during the 2024-03-01 period was 1,550 sqft. One year prior, the average listing was 1,493 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).