Roswell FHA Loan Rates, Closing Costs & Stats

Roswell, NM

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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.

    Roswell's 38 lenders originated 230 FHA loans during 2024. The total origination value was $46,350,000, with an average FHA loan value of $201,522.

    Roswell FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Roswell averaged 6.31% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Roswell's average FHA mortgage closing costs are $7,200.

    The average rate for the prior week (2025-03-28) was 6.81% and one month ago for the week of 2025-02-28, the average rate was 6.4%.

    The average rate one year ago was 7.02%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.46%.

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

    Roswell 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 Roswell level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    LOANDEPOT.COM, LLC 46 6.95% $11,300
    CMG MORTGAGE, INC. 29 6.43% $10,355
    QUICKEN LOANS, LLC 24 6.35% $8,992
    BROKER SOLUTIONS, INC. 24 6.89% $9,526
    GUILD MORTGAGE COMPANY 17 6.39% $7,709
    MICHIGAN MUTUAL, INC. 6 6.81% $13,975
    PENNYMAC LOAN SERVICES, LLC 5 6.43% $11,003
    FREEDOM MORTGAGE CORPORATION 5 6.45% $15,311
    Prosperity Home Mortgage, LLC 3 6.50% $7,184
    UNITED WHOLESALE MORTGAGE, LLC 3 6.04% $15,165
    CROSSCOUNTRY MORTGAGE, LLC 3 6.58% $16,116
    AMERICAN FINANCIAL NETWORK, INC. 2 7.06% $10,419
    Carrington Mortgage Services, LLC 2 6.56% $9,206
    Equity Prime Mortgage LLC 2 7.00% $10,156
    First American Bank 2 6.50% $3,498
    MID AMERICA MORTGAGE, INC. 2 6.13% $5,808
    Mortgage Research Center, LLC 2 6.44% $8,453
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.25% $5,108
    CORNERSTONE HOME LENDING, INC. 1 8.63% $7,597
    AMERICAN FINANCING CORPORATION 1 5.99% $11,405
    Wells Fargo Bank 1 7.00% $7,713
    MOUNTAIN AMERICA 1 5.75% $6,439
    MOVEMENT MORTGAGE, LLC 1 6.75% $15,127
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $12,204
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $22,147
    NBKC BANK 1 6.75% $5,732
    NEWREZ LLC 1 6.63% $8,383
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 7.13% $7,016
    Century Mortgage Company DBA Century Lending Company 1 6.25% $11,994
    Plains Commerce Bank 1 7.25% $17,850
    PREMIA MORTGAGE, LLC 1 7.13% $6,148
    ZILLOW HOME LOANS, LLC 1 6.25% $7,180
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $15,022
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.25% $12,854
    TJC Mortgage, Inc. 1 6.63% $14,232
    GENEVA FINANCIAL, LLC 1 7.75% $8,168
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.25% $5,785
    DIRECTORS MORTGAGE, INC. 1 5.75% $6,547

    The top Roswell FHA lender as defined by loan originations is LOANDEPOT.COM, LLC, with 46 FHA loans originated. Their average total fees are $11,300, which is $945 higher than the next largest lender, CMG MORTGAGE, INC..

    The lowest fee Roswell FHA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($7,709), QUICKEN LOANS, LLC ($8,992), BROKER SOLUTIONS, INC. ($9,526), CMG MORTGAGE, INC. ($10,355) and LOANDEPOT.COM, LLC ($11,300).

    The lowest rate Roswell FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.35%), GUILD MORTGAGE COMPANY (6.39%), CMG MORTGAGE, INC. (6.43%), BROKER SOLUTIONS, INC. (6.89%) and LOANDEPOT.COM, LLC (6.95%).

    Roswell FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Roswell (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 $160,000 (13.9%) $203,605 (-65.7%) 0.00 267
    2018-02-01 $163,750 (21.1%) $204,490 (8.6%) 0.00 269
    2018-03-01 $176,500 (26.1%) $208,997 (7.7%) 0.00 268
    2018-04-01 $185,225 (24.3%) $215,900 (8.6%) 0.00 270
    2018-05-01 $193,688 (35.8%) $215,376 (8.7%) 0.00 275
    2018-06-01 $185,000 (26.6%) $216,360 (9.5%) 0.00 295
    2018-07-01 $185,000 (19.6%) $215,778 (6.4%) 0.00 294
    2018-08-01 $185,000 (8.8%) $215,146 (2.2%) 0.00 279
    2018-09-01 $183,000 (11.8%) $211,042 (6.1%) 0.00 271
    2018-10-01 $182,500 (10.6%) $204,263 (0.8%) 0.00 261
    2018-11-01 $181,250 (9.9%) $206,999 (1.9%) 0.00 252
    2018-12-01 $189,000 (18.1%) $221,017 (7.2%) 0.00 242
    2019-01-01 $195,450 (22.2%) $222,829 (9.4%) 0.00 226
    2019-02-01 $202,000 (23.4%) $223,648 (9.4%) 0.00 216
    2019-03-01 $202,564 (14.8%) $222,190 (6.3%) 0.00 202
    2019-04-01 $193,238 (4.3%) $223,159 (3.4%) 0.00 201
    2019-05-01 $189,500 (-2.2%) $218,623 (1.5%) 0.00 198
    2019-06-01 $189,475 (2.4%) $215,113 (-0.6%) 0.00 173
    2019-07-01 $182,950 (-1.1%) $211,229 (-2.1%) 0.00 156
    2019-08-01 $191,318 (3.4%) $218,513 (1.6%) 0.00 156
    2019-09-01 $199,295 (8.9%) $227,908 (8.0%) 0.00 156
    2019-10-01 $204,614 (12.1%) $234,895 (15.0%) 0.00 157
    2019-11-01 $209,700 (15.7%) $243,875 (17.8%) 0.00 156
    2019-12-01 $186,750 (-1.2%) $228,888 (3.6%) 0.00 144
    2020-01-01 $181,150 (-7.3%) $215,423 (-3.3%) 0.00 138
    2020-02-01 $191,250 (-5.3%) $238,895 (6.8%) 0.00 124
    2020-03-01 $179,975 (-11.2%) $232,375 (4.6%) 0.00 134
    2020-04-01 $206,250 (6.7%) $245,687 (10.1%) 0.00 135
    2020-05-01 $197,000 (4.0%) $239,437 (9.5%) 0.00 118
    2020-06-01 $205,750 (8.6%) $240,884 (12.0%) 0.00 116
    2020-07-01 $194,975 (6.6%) $230,792 (9.3%) 0.00 113
    2020-08-01 $180,000 (-5.9%) $223,425 (2.3%) 0.00 124
    2020-09-01 $176,250 (-11.6%) $224,941 (-1.3%) 0.00 120
    2020-10-01 $167,400 (-18.2%) $214,743 (-8.6%) 0.00 125
    2020-11-01 $164,975 (-21.3%) $206,213 (-15.4%) 0.00 124
    2020-12-01 $172,750 (-7.5%) $216,641 (-5.4%) 0.00 131
    2021-01-01 $165,000 (-8.9%) $208,624 (-3.2%) 0.00 113
    2021-02-01 $167,150 (-12.6%) $217,466 (-9.0%) 0.00 112
    2021-03-01 $189,750 (5.4%) $238,236 (2.5%) 0.00 106
    2021-04-01 $193,600 (-6.1%) $234,416 (-4.6%) 0.00 117
    2021-05-01 $199,900 (1.5%) $246,221 (2.8%) 0.00 123
    2021-06-01 $202,100 (-1.8%) $249,458 (3.6%) 0.00 135
    2021-07-01 $199,900 (2.5%) $239,907 (4.0%) 0.00 146
    2021-08-01 $199,975 (11.1%) $234,365 (4.9%) 0.00 165
    2021-09-01 $195,975 (11.2%) $224,197 (-0.3%) 0.00 157
    2021-10-01 $191,500 (14.4%) $222,286 (3.5%) 0.00 147
    2021-11-01 $202,500 (22.8%) $238,891 (15.9%) 0.00 136
    2021-12-01 $207,500 (20.1%) $244,023 (12.6%) 0.00 126
    2022-01-01 $230,000 (39.4%) $258,235 (23.8%) 0.00 127
    2022-02-01 $236,125 (41.3%) $276,227 (27.0%) 0.00 123
    2022-03-01 $226,500 (19.4%) $271,723 (14.1%) 0.00 124
    2022-04-01 $244,825 (26.5%) $271,704 (15.9%) 0.00 131
    2022-05-01 $253,750 (26.9%) $291,347 (18.3%) 0.00 145
    2022-06-01 $247,456 (22.4%) $284,311 (14.0%) 0.00 148
    2022-07-01 $241,000 (20.6%) $278,459 (16.1%) 0.00 169
    2022-08-01 $235,000 (17.5%) $269,508 (15.0%) 0.00 169
    2022-09-01 $235,000 (19.9%) $272,775 (21.7%) 0.00 169
    2022-10-01 $224,000 (17.0%) $266,594 (19.9%) 0.00 179
    2022-11-01 $225,000 (11.1%) $274,290 (14.8%) 0.00 179
    2022-12-01 $239,000 (15.2%) $278,518 (14.1%) 0.00 178
    2023-01-01 $237,000 (3.0%) $288,226 (11.6%) 0.00 166
    2023-02-01 $232,319 (-1.6%) $280,303 (1.5%) 0.00 152
    2023-03-01 $246,913 (9.0%) $284,274 (4.6%) 0.00 143
    2023-04-01 $269,450 (10.1%) $297,073 (9.3%) 0.00 137
    2023-05-01 $295,000 (16.3%) $309,704 (6.3%) 0.00 91
    2023-06-01 $260,000 (5.1%) $297,065 (4.5%) 0.00 107
    2023-07-01 $249,500 (3.5%) $299,671 (7.6%) 0.00 103
    2023-08-01 $240,000 (2.1%) $285,382 (5.9%) 0.00 122
    2023-09-01 $233,000 (-0.9%) $278,203 (2.0%) 0.00 131
    2023-10-01 $220,500 (-1.6%) $271,251 (1.8%) 0.00 139
    2023-11-01 $220,250 (-2.1%) $278,910 (1.7%) 0.00 145
    2023-12-01 $220,000 (-8.0%) $284,900 (2.3%) 0.00 144
    2024-01-01 $220,250 (-7.1%) $283,239 (-1.7%) 0.00 152
    2024-02-01 $225,000 (-3.2%) $284,526 (1.5%) 0.00 147
    2024-03-01 $239,000 (-3.2%) $289,941 (2.0%) 0.00 147
    2024-04-01 $262,475 (-2.6%) $303,487 (2.2%) 0.00 149
    2024-05-01 $267,250 (-9.4%) $307,866 (-0.6%) 0.00 158
    2024-06-01 $276,250 (6.3%) $310,920 (4.7%) 0.00 168
    2024-07-01 $293,450 (17.6%) $321,107 (7.2%) 0.00 186
    2024-08-01 $279,900 (16.6%) $319,571 (12.0%) 0.00 193
    2024-09-01 $283,200 (21.6%) $324,580 (16.7%) 0.00 192
    2024-10-01 $275,000 (24.7%) $321,624 (18.6%) 0.00 196
    2024-11-01 $270,000 (22.6%) $314,580 (12.8%) 0.00 199
    2024-12-01 $264,875 (20.4%) $302,393 (6.1%) 0.00 191
    2025-01-01 $267,250 (21.3%) $302,273 (6.7%) 0.00 183
    2025-02-01 $265,750 (18.1%) $299,007 (5.1%) 0.00 176
    2025-03-01 $285,250 (19.4%) $315,320 (8.8%) 0.00 160
    Roswell's median listing price for 2025-03-01 was $285,250, a difference of $46,250 (19.4%) versus the prior year and $19,500 versus the prior month.

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

    Roswell's average listing price for 2025-03-01 was $315,320, a difference of $25,379 (8.8%) versus the prior year and $16,313 versus the prior month.

    For the 2025-03-01 period, Roswell had 160 MLS listings, a difference of -16 listings (-9%) versus the prior month and 13 listings (9%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Roswell (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,971 sqft
    2018-02-01 0 days 1,975 sqft
    2018-03-01 0 days 1,961 sqft
    2018-04-01 0 days 1,976 sqft
    2018-05-01 0 days 2,050 sqft
    2018-06-01 0 days 2,024 sqft
    2018-07-01 0 days 2,004 sqft
    2018-08-01 0 days 1,940 sqft
    2018-09-01 0 days 1,911 sqft
    2018-10-01 0 days 1,911 sqft
    2018-11-01 0 days 1,941 sqft
    2018-12-01 0 days 1,973 sqft
    2019-01-01 0 days 1,991 sqft
    2019-02-01 0 days 2,007 sqft
    2019-03-01 0 days 2,024 sqft
    2019-04-01 0 days 2,043 sqft
    2019-05-01 0 days 2,009 sqft
    2019-06-01 0 days 2,000 sqft
    2019-07-01 0 days 1,957 sqft
    2019-08-01 0 days 1,984 sqft
    2019-09-01 0 days 2,024 sqft
    2019-10-01 0 days 2,061 sqft
    2019-11-01 0 days 2,105 sqft
    2019-12-01 0 days 1,909 sqft
    2020-01-01 0 days 1,879 sqft
    2020-02-01 0 days 1,935 sqft
    2020-03-01 0 days 1,863 sqft
    2020-04-01 0 days 1,974 sqft
    2020-05-01 0 days 1,967 sqft
    2020-06-01 0 days 1,990 sqft
    2020-07-01 0 days 1,900 sqft
    2020-08-01 0 days 1,866 sqft
    2020-09-01 0 days 1,808 sqft
    2020-10-01 0 days 1,729 sqft
    2020-11-01 0 days 1,661 sqft
    2020-12-01 0 days 1,711 sqft
    2021-01-01 0 days 1,672 sqft
    2021-02-01 0 days 1,720 sqft
    2021-03-01 0 days 1,881 sqft
    2021-04-01 0 days 1,892 sqft
    2021-05-01 0 days 1,912 sqft
    2021-06-01 0 days 1,889 sqft
    2021-07-01 0 days 1,832 sqft
    2021-08-01 0 days 1,805 sqft
    2021-09-01 0 days 1,728 sqft
    2021-10-01 0 days 1,731 sqft
    2021-11-01 0 days 1,744 sqft
    2021-12-01 0 days 1,753 sqft
    2022-01-01 0 days 1,820 sqft
    2022-02-01 0 days 1,902 sqft
    2022-03-01 0 days 1,815 sqft
    2022-04-01 0 days 1,815 sqft
    2022-05-01 0 days 1,910 sqft
    2022-06-01 0 days 1,875 sqft
    2022-07-01 0 days 1,886 sqft
    2022-08-01 0 days 1,842 sqft
    2022-09-01 0 days 1,858 sqft
    2022-10-01 0 days 1,889 sqft
    2022-11-01 0 days 1,959 sqft
    2022-12-01 0 days 1,930 sqft
    2023-01-01 0 days 1,944 sqft
    2023-02-01 0 days 1,923 sqft
    2023-03-01 0 days 1,965 sqft
    2023-04-01 0 days 2,105 sqft
    2023-05-01 0 days 2,154 sqft
    2023-06-01 0 days 2,095 sqft
    2023-07-01 0 days 2,154 sqft
    2023-08-01 0 days 2,073 sqft
    2023-09-01 0 days 1,965 sqft
    2023-10-01 0 days 1,927 sqft
    2023-11-01 0 days 1,824 sqft
    2023-12-01 0 days 1,766 sqft
    2024-01-01 0 days 1,776 sqft
    2024-02-01 0 days 1,760 sqft
    2024-03-01 0 days 1,800 sqft
    2024-04-01 0 days 1,875 sqft
    2024-05-01 0 days 1,960 sqft
    2024-06-01 0 days 1,984 sqft
    2024-07-01 0 days 1,989 sqft
    2024-08-01 0 days 1,981 sqft
    2024-09-01 0 days 1,968 sqft
    2024-10-01 0 days 1,931 sqft
    2024-11-01 0 days 1,964 sqft
    2024-12-01 0 days 1,974 sqft
    2025-01-01 0 days 2,031 sqft
    2025-02-01 0 days 1,994 sqft
    2025-03-01 0 days 2,090 sqft
    Roswell's median listing age (time on market) for 2025-03-01 was 0 days.

    Roswell's median square footage for active listings during the 2025-03-01 period was 2,090 sqft. One year prior, the average listing was 1,800 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).