Rutland FHA Loan Rates, Closing Costs & Stats
Rutland, VT
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.
Rutland's 21 lenders originated 80 FHA loans during 2023. The total origination value was $16,730,000, with an average FHA loan value of $209,125.
Rutland FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Rutland
averaged
6.11%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Rutland's average FHA mortgage closing costs are $7,354.
The average rate for the prior week (2024-09-27) was
6.1% and
one month ago for the week of 2024-08-30, the
average rate was 6.06%.
The average rate one year ago was 7.1%.
For refis of the same type during the week of 2024-10-04, the average rate
was 6.09%.
Rutland 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 Rutland level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
QUICKEN LOANS, LLC | 24 | 6.30% | $9,628 |
ACADEMY MORTGAGE CORPORATION | 5 | 6.60% | $10,275 |
PRIMELENDING, A PLAINSCAPITAL COMPANY | 4 | 6.63% | $11,012 |
M&T Bank | 4 | 6.50% | $8,282 |
EMM LOANS LLC | 4 | 6.19% | $11,575 |
BROKER SOLUTIONS, INC. | 3 | 6.88% | $12,153 |
GUARANTEED RATE, INC. | 3 | 6.66% | $9,625 |
FREEDOM MORTGAGE CORPORATION | 2 | 6.87% | $14,576 |
FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 2 | 7.25% | $11,225 |
HOMEBRIDGE FINANCIAL SERVICES, INC. | 2 | 6.44% | $10,102 |
LIBERTY HOME MORTGAGE CORPORATION | 2 | 6.38% | $18,269 |
MUTUAL OF OMAHA MORTGAGE, INC. | 2 | 7.19% | $16,727 |
CALIBER HOME LOANS, INC. | 1 | 6.75% | $11,527 |
AMERISAVE MORTGAGE CORPORATION | 1 | 5.00% | $24,489 |
LOANDEPOT.COM, LLC | 1 | 6.99% | $15,175 |
CMG MORTGAGE, INC. | 1 | 6.25% | $15,594 |
UNITED WHOLESALE MORTGAGE, LLC | 1 | 6.75% | $16,192 |
EVERETT FINANCIAL, INC. | 1 | 6.13% | $13,244 |
PENNYMAC LOAN SERVICES, LLC | 1 | 6.50% | $8,659 |
Equity Prime Mortgage LLC | 1 | 6.75% | $16,833 |
ENVOY MORTGAGE, LTD | 1 | 7.25% | $10,078 |
The top Rutland FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
24 FHA loans originated. Their average total fees are
$9,628, which is $647
lower than the next largest lender,
ACADEMY MORTGAGE CORPORATION.
The lowest fee Rutland FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($9,628), .
The lowest rate Rutland FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.30%), .
Rutland FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
RUTLAND, VT | RUTLAND | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
RUTLAND, VT | RUTLAND | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Rutland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $199,900 (5.3%) | $305,728 (6.6%) | 0.00 | 551 |
2018-02-01 | $199,900 (2.1%) | $300,652 (4.1%) | 0.00 | 535 |
2018-03-01 | $200,000 (2.9%) | $305,341 (6.1%) | 0.00 | 521 |
2018-04-01 | $201,475 (2.8%) | $304,414 (5.5%) | 0.00 | 534 |
2018-05-01 | $203,500 (4.4%) | $298,716 (1.4%) | 0.00 | 555 |
2018-06-01 | $199,000 (0.0%) | $289,177 (-3.5%) | 0.00 | 608 |
2018-07-01 | $214,975 (7.5%) | $299,200 (-1.7%) | 0.00 | 641 |
2018-08-01 | $224,975 (13.1%) | $304,952 (2.5%) | 0.00 | 656 |
2018-09-01 | $229,000 (14.7%) | $303,646 (-0.9%) | 0.00 | 637 |
2018-10-01 | $229,000 (6.5%) | $309,873 (-1.5%) | 0.00 | 622 |
2018-11-01 | $229,125 (14.6%) | $315,100 (2.8%) | 0.00 | 590 |
2018-12-01 | $230,000 (15.3%) | $336,585 (12.1%) | 0.00 | 545 |
2019-01-01 | $230,975 (15.6%) | $346,453 (13.3%) | 0.00 | 506 |
2019-02-01 | $238,125 (19.1%) | $347,407 (15.6%) | 0.00 | 507 |
2019-03-01 | $238,857 (19.4%) | $344,632 (12.9%) | 0.00 | 509 |
2019-04-01 | $238,607 (18.4%) | $338,980 (11.4%) | 0.00 | 515 |
2019-05-01 | $235,000 (15.5%) | $333,286 (11.6%) | 0.00 | 541 |
2019-06-01 | $235,000 (18.1%) | $329,697 (14.0%) | 0.00 | 587 |
2019-07-01 | $235,000 (9.3%) | $338,106 (13.0%) | 0.00 | 596 |
2019-08-01 | $235,000 (4.5%) | $341,258 (11.9%) | 0.00 | 592 |
2019-09-01 | $235,000 (2.6%) | $341,154 (12.4%) | 0.00 | 588 |
2019-10-01 | $237,000 (3.5%) | $347,638 (12.2%) | 0.00 | 575 |
2019-11-01 | $242,000 (5.6%) | $364,196 (15.6%) | 0.00 | 508 |
2019-12-01 | $236,000 (2.6%) | $364,589 (8.3%) | 0.00 | 469 |
2020-01-01 | $226,750 (-1.8%) | $364,903 (5.3%) | 0.00 | 435 |
2020-02-01 | $239,000 (0.4%) | $368,502 (6.1%) | 0.00 | 408 |
2020-03-01 | $239,000 (0.1%) | $367,848 (6.7%) | 0.00 | 398 |
2020-04-01 | $244,000 (2.3%) | $373,308 (10.1%) | 0.00 | 360 |
2020-05-01 | $249,000 (6.0%) | $380,441 (14.2%) | 0.00 | 355 |
2020-06-01 | $255,625 (8.8%) | $388,593 (17.9%) | 0.00 | 351 |
2020-07-01 | $255,125 (8.6%) | $384,890 (13.8%) | 0.00 | 336 |
2020-08-01 | $249,999 (6.4%) | $393,330 (15.3%) | 0.00 | 328 |
2020-09-01 | $245,000 (4.3%) | $399,173 (17.0%) | 0.00 | 302 |
2020-10-01 | $249,000 (5.1%) | $408,077 (17.4%) | 0.00 | 305 |
2020-11-01 | $259,900 (7.4%) | $416,072 (14.2%) | 0.00 | 262 |
2020-12-01 | $249,000 (5.5%) | $434,150 (19.1%) | 0.00 | 237 |
2021-01-01 | $259,900 (14.6%) | $470,630 (29.0%) | 0.00 | 199 |
2021-02-01 | $279,250 (16.8%) | $477,333 (29.5%) | 0.00 | 161 |
2021-03-01 | $288,325 (20.6%) | $477,605 (29.8%) | 0.00 | 144 |
2021-04-01 | $290,625 (19.1%) | $512,153 (37.2%) | 0.00 | 144 |
2021-05-01 | $299,900 (20.4%) | $527,693 (38.7%) | 0.00 | 156 |
2021-06-01 | $299,225 (17.1%) | $519,176 (33.6%) | 0.00 | 168 |
2021-07-01 | $299,900 (17.6%) | $525,879 (36.6%) | 0.00 | 176 |
2021-08-01 | $324,750 (29.9%) | $560,765 (42.6%) | 0.00 | 170 |
2021-09-01 | $371,000 (51.4%) | $568,141 (42.3%) | 0.00 | 170 |
2021-10-01 | $374,000 (50.2%) | $572,742 (40.4%) | 0.00 | 147 |
2021-11-01 | $448,000 (72.4%) | $601,144 (44.5%) | 0.00 | 128 |
2021-12-01 | $404,250 (62.4%) | $640,713 (47.6%) | 0.00 | 123 |
2022-01-01 | $365,000 (40.4%) | $621,406 (32.0%) | 0.00 | 109 |
2022-02-01 | $327,500 (17.3%) | $599,213 (25.5%) | 0.00 | 106 |
2022-03-01 | $326,000 (13.1%) | $577,566 (20.9%) | 0.00 | 116 |
2022-04-01 | $335,000 (15.3%) | $572,050 (11.7%) | 0.00 | 137 |
2022-05-01 | $337,250 (12.5%) | $578,658 (9.7%) | 0.00 | 152 |
2022-06-01 | $342,250 (14.4%) | $568,072 (9.4%) | 0.00 | 172 |
2022-07-01 | $350,000 (16.7%) | $567,089 (7.8%) | 0.00 | 198 |
2022-08-01 | $354,950 (9.3%) | $566,367 (1.0%) | 0.00 | 170 |
2022-09-01 | $362,425 (-2.3%) | $551,501 (-2.9%) | 0.00 | 166 |
2022-10-01 | $319,000 (-14.7%) | $538,926 (-5.9%) | 0.00 | 164 |
2022-11-01 | $309,950 (-30.8%) | $581,025 (-3.4%) | 0.00 | 156 |
2022-12-01 | $299,000 (-26.0%) | $427,740 (-33.2%) | 0.00 | 125 |
2023-01-01 | $274,925 (-24.7%) | $414,967 (-33.2%) | 0.00 | 113 |
2023-02-01 | $260,350 (-20.5%) | $429,358 (-28.4%) | 0.00 | 113 |
2023-03-01 | $275,000 (-15.6%) | $429,225 (-25.7%) | 0.00 | 107 |
2023-04-01 | $275,000 (-17.9%) | $428,266 (-25.1%) | 0.00 | 99 |
2023-05-01 | $280,000 (-17.0%) | $419,751 (-27.5%) | 0.00 | 96 |
2023-06-01 | $336,375 (-1.7%) | $458,483 (-19.3%) | 0.00 | 106 |
2023-07-01 | $389,000 (11.1%) | $481,212 (-15.1%) | 0.00 | 106 |
2023-08-01 | $393,725 (10.9%) | $503,014 (-11.2%) | 0.00 | 113 |
2023-09-01 | $400,000 (10.4%) | $567,781 (3.0%) | 0.00 | 133 |
2023-10-01 | $412,475 (29.3%) | $549,421 (2.0%) | 0.00 | 132 |
2023-11-01 | $396,000 (27.8%) | $554,050 (-4.6%) | 0.00 | 124 |
2023-12-01 | $399,900 (33.8%) | $546,807 (27.8%) | 0.00 | 109 |
2024-01-01 | $396,475 (44.2%) | $538,475 (29.8%) | 0.00 | 104 |
2024-02-01 | $401,475 (54.2%) | $559,505 (30.3%) | 0.00 | 107 |
2024-03-01 | $385,000 (40.0%) | $711,967 (65.9%) | 0.00 | 121 |
2024-04-01 | $385,975 (40.4%) | $714,669 (66.9%) | 0.00 | 133 |
2024-05-01 | $437,450 (56.2%) | $742,350 (76.9%) | 0.00 | 139 |
2024-06-01 | $399,900 (18.9%) | $711,161 (55.1%) | 0.00 | 165 |
2024-07-01 | $437,450 (12.5%) | $717,351 (49.1%) | 0.00 | 188 |
2024-08-01 | $420,000 (6.7%) | $703,612 (39.9%) | 0.00 | 209 |
2024-09-01 | $421,225 (5.3%) | $697,088 (22.8%) | 0.00 | 213 |
Rutland's median listing price comes in at 0% of the national average.
Rutland's average listing price for 2024-09-01 was $697,088, a difference of $129,307 (22.8%) versus the prior year and $-6,524 versus the prior month.
For the 2024-09-01 period, Rutland had 213 MLS listings, a difference of 4 listings (2%) versus the prior month and 80 listings (60%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Rutland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,880 sqft |
2018-02-01 | 0 days | 1,858 sqft |
2018-03-01 | 0 days | 1,867 sqft |
2018-04-01 | 0 days | 1,878 sqft |
2018-05-01 | 0 days | 1,881 sqft |
2018-06-01 | 0 days | 1,879 sqft |
2018-07-01 | 0 days | 1,933 sqft |
2018-08-01 | 0 days | 1,983 sqft |
2018-09-01 | 0 days | 2,000 sqft |
2018-10-01 | 0 days | 2,000 sqft |
2018-11-01 | 0 days | 1,996 sqft |
2018-12-01 | 0 days | 2,000 sqft |
2019-01-01 | 0 days | 2,040 sqft |
2019-02-01 | 0 days | 2,004 sqft |
2019-03-01 | 0 days | 1,994 sqft |
2019-04-01 | 0 days | 1,979 sqft |
2019-05-01 | 0 days | 1,978 sqft |
2019-06-01 | 0 days | 1,920 sqft |
2019-07-01 | 0 days | 1,911 sqft |
2019-08-01 | 0 days | 1,919 sqft |
2019-09-01 | 0 days | 1,917 sqft |
2019-10-01 | 0 days | 1,922 sqft |
2019-11-01 | 0 days | 1,960 sqft |
2019-12-01 | 0 days | 1,941 sqft |
2020-01-01 | 0 days | 1,896 sqft |
2020-02-01 | 0 days | 1,944 sqft |
2020-03-01 | 0 days | 1,942 sqft |
2020-04-01 | 0 days | 1,946 sqft |
2020-05-01 | 0 days | 1,921 sqft |
2020-06-01 | 0 days | 2,022 sqft |
2020-07-01 | 0 days | 2,143 sqft |
2020-08-01 | 0 days | 2,128 sqft |
2020-09-01 | 0 days | 1,959 sqft |
2020-10-01 | 0 days | 1,969 sqft |
2020-11-01 | 0 days | 2,073 sqft |
2020-12-01 | 0 days | 2,106 sqft |
2021-01-01 | 0 days | 2,194 sqft |
2021-02-01 | 0 days | 2,146 sqft |
2021-03-01 | 0 days | 2,198 sqft |
2021-04-01 | 0 days | 2,167 sqft |
2021-05-01 | 0 days | 2,066 sqft |
2021-06-01 | 0 days | 1,875 sqft |
2021-07-01 | 0 days | 1,805 sqft |
2021-08-01 | 0 days | 2,002 sqft |
2021-09-01 | 0 days | 2,086 sqft |
2021-10-01 | 0 days | 2,194 sqft |
2021-11-01 | 0 days | 2,194 sqft |
2021-12-01 | 0 days | 2,194 sqft |
2022-01-01 | 0 days | 2,194 sqft |
2022-02-01 | 0 days | 2,030 sqft |
2022-03-01 | 0 days | 1,912 sqft |
2022-04-01 | 0 days | 1,824 sqft |
2022-05-01 | 0 days | 1,817 sqft |
2022-06-01 | 0 days | 1,915 sqft |
2022-07-01 | 0 days | 1,920 sqft |
2022-08-01 | 0 days | 1,958 sqft |
2022-09-01 | 0 days | 2,004 sqft |
2022-10-01 | 0 days | 1,916 sqft |
2022-11-01 | 0 days | 1,994 sqft |
2022-12-01 | 0 days | 1,930 sqft |
2023-01-01 | 0 days | 1,809 sqft |
2023-02-01 | 0 days | 1,610 sqft |
2023-03-01 | 0 days | 1,760 sqft |
2023-04-01 | 0 days | 1,872 sqft |
2023-05-01 | 0 days | 1,632 sqft |
2023-06-01 | 0 days | 1,768 sqft |
2023-07-01 | 0 days | 1,800 sqft |
2023-08-01 | 0 days | 1,790 sqft |
2023-09-01 | 0 days | 1,811 sqft |
2023-10-01 | 0 days | 1,972 sqft |
2023-11-01 | 0 days | 1,881 sqft |
2023-12-01 | 0 days | 1,929 sqft |
2024-01-01 | 0 days | 1,972 sqft |
2024-02-01 | 0 days | 1,937 sqft |
2024-03-01 | 0 days | 1,828 sqft |
2024-04-01 | 0 days | 1,692 sqft |
2024-05-01 | 0 days | 1,612 sqft |
2024-06-01 | 0 days | 1,742 sqft |
2024-07-01 | 0 days | 1,814 sqft |
2024-08-01 | 0 days | 1,963 sqft |
2024-09-01 | 0 days | 1,842 sqft |
Rutland's median square footage for active listings during the 2024-09-01 period was 1,842 sqft. One year prior, the average listing was 1,811 sqft.