Plattsburgh FHA Loan Rates, Closing Costs & Stats

Plattsburgh, 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.

    Plattsburgh's 17 lenders originated 99 FHA loans during 2024. The total origination value was $18,525,000, with an average FHA loan value of $187,121.

    Plattsburgh FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Plattsburgh averaged 6.54% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Plattsburgh's average FHA mortgage closing costs are $7,535.

    The average rate for the prior week (2025-03-28) was 6.64% and one month ago for the week of 2025-02-28, the average rate was 6.72%.

    The average rate one year ago was 7.24%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.36%.

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

    Plattsburgh 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 Plattsburgh level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    ABSOLUTE HOME MORTGAGE CORPORATION 33 7.23% $8,899
    QUICKEN LOANS, LLC 20 6.60% $10,922
    Flagstar Bank, FSB 6 6.30% $9,520
    PENNYMAC LOAN SERVICES, LLC 4 5.94% $13,487
    NEWREZ LLC 4 7.00% $7,002
    PLAZA HOME MORTGAGE, INC. 3 6.50% $7,914
    FREEDOM MORTGAGE CORPORATION 3 7.29% $10,609
    SEFCU SERVICES, LLC 2 5.63% $8,597
    Mr. Cooper ( Nationstar Mortgage ) 2 6.25% $9,767
    PLANET HOME LENDING, LLC 2 6.31% $6,197
    UNITED WHOLESALE MORTGAGE, LLC 1 5.75% $12,283
    AMERICU Credit Union 1 4.99% $8,319
    Carrington Mortgage Services, LLC 1 6.88% $13,871
    GUARANTEED RATE AFFINITY, LLC 1 7.08% $3,496
    LOANDEPOT.COM, LLC 1 6.63% $10,707
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.25% $13,635
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $10,465

    The top Plattsburgh FHA lender as defined by loan originations is ABSOLUTE HOME MORTGAGE CORPORATION, with 33 FHA loans originated. Their average total fees are $8,899, which is $2,022 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Plattsburgh FHA lenders (with over 10 loans originated) are ABSOLUTE HOME MORTGAGE CORPORATION ($8,899), QUICKEN LOANS, LLC ($10,922), .

    The lowest rate Plattsburgh FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.60%), ABSOLUTE HOME MORTGAGE CORPORATION (7.23%), .

    Plattsburgh FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    PLATTSBURGH, NY CLINTON 2022 $420,680 $538,650 $651,050 $809,150
    PLATTSBURGH, NY CLINTON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Plattsburgh (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 $138,675 (-11.9%) $201,199 (-2.2%) 0.00 231
    2018-02-01 $139,900 (-7.2%) $206,617 (1.7%) 0.00 224
    2018-03-01 $154,900 (3.4%) $219,828 (9.4%) 0.00 221
    2018-04-01 $161,875 (8.6%) $233,205 (11.6%) 0.00 234
    2018-05-01 $169,925 (12.1%) $241,253 (7.7%) 0.00 250
    2018-06-01 $172,400 (6.1%) $242,173 (5.7%) 0.00 280
    2018-07-01 $179,900 (12.5%) $245,225 (9.4%) 0.00 288
    2018-08-01 $179,925 (12.5%) $245,997 (9.0%) 0.00 285
    2018-09-01 $175,000 (9.7%) $241,870 (11.1%) 0.00 269
    2018-10-01 $166,000 (4.2%) $238,755 (12.8%) 0.00 263
    2018-11-01 $172,325 (18.9%) $239,035 (16.7%) 0.00 237
    2018-12-01 $159,900 (14.3%) $219,611 (9.1%) 0.00 208
    2019-01-01 $156,569 (12.9%) $220,041 (9.4%) 0.00 181
    2019-02-01 $159,900 (14.3%) $221,689 (7.3%) 0.00 174
    2019-03-01 $159,943 (3.3%) $223,398 (1.6%) 0.00 170
    2019-04-01 $160,000 (-1.2%) $224,539 (-3.7%) 0.00 168
    2019-05-01 $169,950 (0.0%) $226,101 (-6.3%) 0.00 197
    2019-06-01 $169,900 (-1.5%) $228,621 (-5.6%) 0.00 238
    2019-07-01 $189,000 (5.1%) $239,961 (-2.2%) 0.00 269
    2019-08-01 $188,209 (4.6%) $234,857 (-4.5%) 0.00 278
    2019-09-01 $186,348 (6.5%) $233,584 (-3.4%) 0.00 273
    2019-10-01 $184,900 (11.4%) $232,735 (-2.5%) 0.00 260
    2019-11-01 $169,900 (-1.4%) $231,188 (-3.3%) 0.00 234
    2019-12-01 $167,450 (4.7%) $234,959 (7.0%) 0.00 194
    2020-01-01 $154,375 (-1.4%) $218,555 (-0.7%) 0.00 171
    2020-02-01 $159,450 (-0.3%) $226,183 (2.0%) 0.00 157
    2020-03-01 $189,675 (18.6%) $241,560 (8.1%) 0.00 169
    2020-04-01 $192,175 (20.1%) $242,578 (8.0%) 0.00 172
    2020-05-01 $189,000 (11.2%) $247,938 (9.7%) 0.00 152
    2020-06-01 $189,450 (11.5%) $244,837 (7.1%) 0.00 160
    2020-07-01 $200,000 (5.8%) $260,767 (8.7%) 0.00 166
    2020-08-01 $205,000 (8.9%) $269,342 (14.7%) 0.00 165
    2020-09-01 $202,450 (8.6%) $269,743 (15.5%) 0.00 172
    2020-10-01 $190,950 (3.3%) $262,285 (12.7%) 0.00 166
    2020-11-01 $192,175 (13.1%) $261,992 (13.3%) 0.00 163
    2020-12-01 $194,225 (16.0%) $260,107 (10.7%) 0.00 150
    2021-01-01 $189,000 (22.4%) $251,708 (15.2%) 0.00 133
    2021-02-01 $172,500 (8.2%) $238,214 (5.3%) 0.00 119
    2021-03-01 $200,125 (5.5%) $263,549 (9.1%) 0.00 94
    2021-04-01 $225,750 (17.5%) $285,342 (17.6%) 0.00 86
    2021-05-01 $239,000 (26.5%) $292,609 (18.0%) 0.00 86
    2021-06-01 $249,900 (31.9%) $292,594 (19.5%) 0.00 105
    2021-07-01 $230,000 (15.0%) $277,144 (6.3%) 0.00 110
    2021-08-01 $232,425 (13.4%) $263,006 (-2.4%) 0.00 106
    2021-09-01 $222,906 (10.1%) $244,814 (-9.2%) 0.00 102
    2021-10-01 $204,975 (7.3%) $260,171 (-0.8%) 0.00 102
    2021-11-01 $189,975 (-1.2%) $234,987 (-10.3%) 0.00 101
    2021-12-01 $189,925 (-2.2%) $224,896 (-13.5%) 0.00 89
    2022-01-01 $182,950 (-3.2%) $212,545 (-15.6%) 0.00 90
    2022-02-01 $191,700 (11.1%) $214,981 (-9.8%) 0.00 71
    2022-03-01 $188,450 (-5.8%) $209,525 (-20.5%) 0.00 67
    2022-04-01 $178,000 (-21.2%) $209,370 (-26.6%) 0.00 65
    2022-05-01 $202,100 (-15.4%) $247,623 (-15.4%) 0.00 82
    2022-06-01 $220,181 (-11.9%) $261,844 (-10.5%) 0.00 114
    2022-07-01 $223,725 (-2.7%) $266,831 (-3.7%) 0.00 128
    2022-08-01 $223,313 (-3.9%) $276,650 (5.2%) 0.00 121
    2022-09-01 $201,200 (-9.7%) $273,948 (11.9%) 0.00 111
    2022-10-01 $204,500 (-0.2%) $264,184 (1.5%) 0.00 111
    2022-11-01 $184,950 (-2.6%) $245,538 (4.5%) 0.00 101
    2022-12-01 $174,900 (-7.9%) $222,916 (-0.9%) 0.00 90
    2023-01-01 $182,498 (-0.3%) $225,298 (6.0%) 0.00 89
    2023-02-01 $182,425 (-4.8%) $230,622 (7.3%) 0.00 89
    2023-03-01 $219,306 (16.4%) $255,944 (22.2%) 0.00 83
    2023-04-01 $237,500 (33.4%) $271,604 (29.7%) 0.00 78
    2023-05-01 $238,900 (18.2%) $297,915 (20.3%) 0.00 91
    2023-06-01 $249,000 (13.1%) $299,077 (14.2%) 0.00 101
    2023-07-01 $235,000 (5.0%) $289,170 (8.4%) 0.00 120
    2023-08-01 $226,900 (1.6%) $289,084 (4.5%) 0.00 125
    2023-09-01 $225,000 (11.8%) $276,695 (1.0%) 0.00 120
    2023-10-01 $238,675 (16.7%) $284,636 (7.7%) 0.00 132
    2023-11-01 $239,925 (29.7%) $286,591 (16.7%) 0.00 116
    2023-12-01 $245,000 (40.1%) $302,758 (35.8%) 0.00 111
    2024-01-01 $239,950 (31.5%) $297,744 (32.2%) 0.00 100
    2024-02-01 $248,950 (36.5%) $302,437 (31.1%) 0.00 95
    2024-03-01 $269,950 (23.1%) $303,079 (18.4%) 0.00 88
    2024-04-01 $261,075 (9.9%) $297,693 (9.6%) 0.00 89
    2024-05-01 $261,000 (9.3%) $299,196 (0.4%) 0.00 94
    2024-06-01 $249,900 (0.4%) $314,251 (5.1%) 0.00 113
    2024-07-01 $247,450 (5.3%) $313,084 (8.3%) 0.00 129
    2024-08-01 $239,000 (5.3%) $297,958 (3.1%) 0.00 148
    2024-09-01 $231,875 (3.1%) $307,411 (11.1%) 0.00 149
    2024-10-01 $229,250 (-4.0%) $311,725 (9.5%) 0.00 149
    2024-11-01 $225,000 (-6.2%) $284,883 (-0.6%) 0.00 149
    2024-12-01 $220,500 (-10.0%) $283,695 (-6.3%) 0.00 138
    2025-01-01 $211,225 (-12.0%) $252,366 (-15.2%) 0.00 111
    2025-02-01 $204,950 (-17.7%) $264,048 (-12.7%) 0.00 96
    2025-03-01 $224,900 (-16.7%) $296,846 (-2.1%) 0.00 100
    Plattsburgh's median listing price for 2025-03-01 was $224,900, a difference of $-45,050 (-16.7%) versus the prior year and $19,950 versus the prior month.

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

    Plattsburgh's average listing price for 2025-03-01 was $296,846, a difference of $-6,233 (-2.1%) versus the prior year and $32,798 versus the prior month.

    For the 2025-03-01 period, Plattsburgh had 100 MLS listings, a difference of 4 listings (4%) versus the prior month and 12 listings (14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Plattsburgh (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,620 sqft
    2018-02-01 0 days 1,625 sqft
    2018-03-01 0 days 1,639 sqft
    2018-04-01 0 days 1,690 sqft
    2018-05-01 0 days 1,704 sqft
    2018-06-01 0 days 1,732 sqft
    2018-07-01 0 days 1,755 sqft
    2018-08-01 0 days 1,747 sqft
    2018-09-01 0 days 1,745 sqft
    2018-10-01 0 days 1,742 sqft
    2018-11-01 0 days 1,780 sqft
    2018-12-01 0 days 1,744 sqft
    2019-01-01 0 days 1,743 sqft
    2019-02-01 0 days 1,714 sqft
    2019-03-01 0 days 1,725 sqft
    2019-04-01 0 days 1,725 sqft
    2019-05-01 0 days 1,713 sqft
    2019-06-01 0 days 1,658 sqft
    2019-07-01 0 days 1,708 sqft
    2019-08-01 0 days 1,712 sqft
    2019-09-01 0 days 1,708 sqft
    2019-10-01 0 days 1,705 sqft
    2019-11-01 0 days 1,700 sqft
    2019-12-01 0 days 1,701 sqft
    2020-01-01 0 days 1,644 sqft
    2020-02-01 0 days 1,652 sqft
    2020-03-01 0 days 1,800 sqft
    2020-04-01 0 days 1,821 sqft
    2020-05-01 0 days 1,782 sqft
    2020-06-01 0 days 1,736 sqft
    2020-07-01 0 days 1,740 sqft
    2020-08-01 0 days 1,773 sqft
    2020-09-01 0 days 1,747 sqft
    2020-10-01 0 days 1,712 sqft
    2020-11-01 0 days 1,749 sqft
    2020-12-01 0 days 1,742 sqft
    2021-01-01 0 days 1,669 sqft
    2021-02-01 0 days 1,683 sqft
    2021-03-01 0 days 1,726 sqft
    2021-04-01 0 days 1,818 sqft
    2021-05-01 0 days 1,887 sqft
    2021-06-01 0 days 1,801 sqft
    2021-07-01 0 days 1,815 sqft
    2021-08-01 0 days 1,779 sqft
    2021-09-01 0 days 1,798 sqft
    2021-10-01 0 days 1,728 sqft
    2021-11-01 0 days 1,670 sqft
    2021-12-01 0 days 1,670 sqft
    2022-01-01 0 days 1,666 sqft
    2022-02-01 0 days 1,672 sqft
    2022-03-01 0 days 1,615 sqft
    2022-04-01 0 days 1,536 sqft
    2022-05-01 0 days 1,558 sqft
    2022-06-01 0 days 1,634 sqft
    2022-07-01 0 days 1,699 sqft
    2022-08-01 0 days 1,715 sqft
    2022-09-01 0 days 1,659 sqft
    2022-10-01 0 days 1,614 sqft
    2022-11-01 0 days 1,633 sqft
    2022-12-01 0 days 1,554 sqft
    2023-01-01 0 days 1,563 sqft
    2023-02-01 0 days 1,577 sqft
    2023-03-01 0 days 1,713 sqft
    2023-04-01 0 days 1,708 sqft
    2023-05-01 0 days 1,780 sqft
    2023-06-01 0 days 1,835 sqft
    2023-07-01 0 days 1,835 sqft
    2023-08-01 0 days 1,676 sqft
    2023-09-01 0 days 1,609 sqft
    2023-10-01 0 days 1,715 sqft
    2023-11-01 0 days 1,748 sqft
    2023-12-01 0 days 1,800 sqft
    2024-01-01 0 days 1,790 sqft
    2024-02-01 0 days 1,637 sqft
    2024-03-01 0 days 1,684 sqft
    2024-04-01 0 days 1,730 sqft
    2024-05-01 0 days 1,772 sqft
    2024-06-01 0 days 1,647 sqft
    2024-07-01 0 days 1,651 sqft
    2024-08-01 0 days 1,648 sqft
    2024-09-01 0 days 1,702 sqft
    2024-10-01 0 days 1,684 sqft
    2024-11-01 0 days 1,576 sqft
    2024-12-01 0 days 1,582 sqft
    2025-01-01 0 days 1,595 sqft
    2025-02-01 0 days 1,550 sqft
    2025-03-01 0 days 1,564 sqft
    Plattsburgh's median listing age (time on market) for 2025-03-01 was 0 days.

    Plattsburgh's median square footage for active listings during the 2025-03-01 period was 1,564 sqft. One year prior, the average listing was 1,684 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).