Salisbury FHA Loan Rates, Closing Costs & Stats

SALISBURY, MD-DE

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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.

    Salisbury's 124 lenders originated 1,572 FHA loans during 2024. The total origination value was $505,680,000, with an average FHA loan value of $321,679.

    Salisbury FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Salisbury averaged 6.98% for the week of 2025-07-11, compared to the national average (all FHA variants) of 6.523% for the same period.

    Salisbury's average FHA mortgage closing costs are $9,293.

    The average rate for the prior week (2025-07-04) was 6.61% and one month ago for the week of 2025-06-06, the average rate was 6.85%.

    The average rate one year ago was 7.18%.

    For refis of the same type during the week of 2025-07-11, the average rate was 6.87%.

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

    Salisbury 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 Salisbury level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    NVR Mortgage Finance, Inc. 115 6.30% $13,845
    QUICKEN LOANS, LLC 107 6.29% $12,305
    Meridian Bank Corporation 91 6.22% $13,050
    MOVEMENT MORTGAGE, LLC 83 6.57% $10,842
    TIDEWATER MORTGAGE SERVICES, INC. 81 6.43% $11,676
    CMG MORTGAGE, INC. 75 6.32% $10,992
    DHI MORTGAGE COMPANY, LTD. 72 5.43% $10,332
    FREEDOM MORTGAGE CORPORATION 52 6.25% $16,365
    UNITED WHOLESALE MORTGAGE, LLC 48 6.17% $14,120
    Keystone Funding, Inc. 37 6.24% $13,473
    Waterstone Mortgage Corporation 34 6.35% $15,571
    PENNYMAC LOAN SERVICES, LLC 31 5.90% $11,703
    LOANDEPOT.COM, LLC 28 6.42% $12,965
    DIRECT MORTGAGE LOANS, LLC 26 6.67% $14,122
    NEWREZ LLC 24 6.33% $12,579
    Evolve Bank & Trust 19 6.18% $14,926
    EAGLE HOME MORTGAGE, LLC 18 6.38% $15,164
    Prosperity Home Mortgage, LLC 18 6.31% $10,990
    GUARANTEED RATE AFFINITY, LLC 17 6.89% $11,010
    BROKER SOLUTIONS, INC. 16 6.65% $14,211
    PIKE CREEK MORTGAGE SERVICES, INC. 15 6.13% $11,974
    GUILD MORTGAGE COMPANY 15 6.10% $12,493
    MUTUAL OF OMAHA MORTGAGE, INC. 15 6.40% $15,947
    NFM, INC. 15 6.84% $11,622
    Carrington Mortgage Services, LLC 13 6.20% $11,881
    BAY CAPITAL MORTGAGE CORPORATION 13 6.21% $13,073
    Nations Lending Corporation 13 6.73% $13,175
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.28% $13,419
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 13 6.36% $16,309
    American Mortgage & Equity Consultants, Inc. 12 6.56% $15,231
    EMBRACE HOME LOANS, INC. 12 6.15% $16,000
    CARDINAL FINANCIAL 12 6.53% $12,839
    CHURCHILL MORTGAGE CORPORATION 12 6.68% $11,013
    AMERISAVE MORTGAGE CORPORATION 11 6.34% $11,203
    Equity Prime Mortgage LLC 11 7.05% $12,784
    Capital Bank 10 5.99% $12,231
    FIRST HOME MORTGAGE CORPORATION 9 6.56% $13,913
    PRIMELENDING, A PLAINSCAPITAL COMPANY 9 6.72% $9,652
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 8 6.58% $4,864
    M&T Bank 8 7.03% $10,941
    LAKEVIEW LOAN SERVICING, LLC 7 6.68% $9,331
    Mr. Cooper ( Nationstar Mortgage ) 7 6.64% $16,821
    CROSSCOUNTRY MORTGAGE, LLC 6 6.88% $10,210
    Century Mortgage Company DBA Century Lending Company 6 6.25% $11,615
    HOMESIDE FINANCIAL, LLC 6 6.71% $16,526
    BAYSHORE MORTGAGE FUNDING, LLC 6 6.48% $11,886
    SUN WEST MORTGAGE COMPANY, INC. 5 6.08% $11,721
    OCMBC, INC. 5 6.65% $16,332
    SUMMIT FUNDING, INC. 5 6.13% $12,383
    RELIANCE FIRST CAPITAL, LLC 5 6.25% $13,050
    RADIUS FINANCIAL GROUP INC. 5 6.90% $11,135
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.12% $8,737
    Mortgage Research Center, LLC 4 6.15% $6,376
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.97% $6,498
    Plains Commerce Bank 4 6.28% $12,324
    AmeriHome Mortgage Company, LLC 4 6.47% $7,738
    FIRST COMMUNITY MORTGAGE, INC. 4 6.56% $12,289
    Flagstar Bank, FSB 4 6.50% $10,626
    NEW FED MORTGAGE, CORP. 4 6.50% $14,730
    ALLIED MORTGAGE GROUP, INC. 3 6.38% $12,644
    EMM LOANS LLC 3 6.08% $18,329
    LOANPAL, LLC 3 5.16% $14,845
    PNC Bank 3 6.13% $10,413
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.88% $14,359
    Ameris Bank 3 6.08% $14,751
    VILLAGE CAPITAL MORTGAGE 3 6.88% $6,158
    Shore United Bank 3 6.38% $13,083
    Acre Mortgage and Financial Inc 2 7.25% $8,567
    GSF Mortgage Corporation 2 6.38% $15,534
    AMERICAN FINANCIAL NETWORK, INC. 2 6.75% $13,561
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 7.19% $16,820
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 2 4.88% $14,425
    LIBERTY HOME MORTGAGE CORPORATION 2 6.25% $16,087
    FIDELITY DIRECT MORTGAGE, LLC 2 6.69% $10,658
    BAY EQUITY LLC 2 6.38% $7,388
    Sandy Spring Bank 2 6.12% $14,191
    ROYAL UNITED MORTGAGE LLC 2 6.25% $20,564
    AMERICAN FINANCING CORPORATION 2 5.13% $12,967
    NATION ONE MORTGAGE CORPORATION 2 6.00% $14,322
    PLANET HOME LENDING, LLC 2 6.25% $6,433
    NBKC BANK 2 6.13% $11,262
    WesBanco 1 6.63% $9,236
    AFFORDABLE MORTGAGE ADVISORS, LLC. 1 6.63% $8,225
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.50% $8,434
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $20,161
    AmRes Corporation 1 6.50% $11,711
    AXIA FINANCIAL, LLC 1 6.75% $10,711
    BETTER MORTGAGE CORPORATION 1 4.75% $17,792
    City Lending Inc. 1 7.13% $18,148
    CORNERSTONE HOME LENDING, INC. 1 6.75% $7,637
    ENVOY MORTGAGE, LTD 1 6.88% $11,186
    EVERETT FINANCIAL, INC. 1 5.75% $6,962
    Firstrust Savings Bank 1 6.75% $13,800
    Fulton Bank 1 5.75% $9,244
    GUARANTEED RATE, INC. 1 6.23% $9,107
    Lakeview Community Capital, LLC 1 5.13% $13,060
    LAND HOME FINANCIAL SERVICES, INC. 1 7.50% $16,248
    MICHIGAN MUTUAL, INC. 1 6.00% $10,700
    MID AMERICA MORTGAGE, INC. 1 7.00% $16,263
    MORIA DEVELOPMENT, INC. 1 6.25% $11,679
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $10,741
    MY MORTGAGE, INC. 1 6.63% $9,504
    NATIONS DIRECT MORTGAGE, LLC 1 7.13% $11,774
    NATIONS RELIABLE LENDING, LLC 1 7.63% $12,833
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $10,362
    NEW DAY FINANCIAL, LLC 1 7.13% $7,297
    Northpointe Bank 1 5.50% $11,227
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $13,790
    OCEANSIDE MORTGAGE COMPANY 1 5.75% $3,848
    Paramount Residential Mortgage Group, Inc. 1 6.13% $14,091
    PENTAGON FEDERAL CREDIT UNION 1 6.00% $11,856
    PHH Mortgage Corporation 1 5.99% $14,035
    Presidential Bank, FSB 1 6.63% $10,240
    Residential Mortgage Solutions, Inc. 1 5.99% $13,638
    Sierra Pacific Mortgage Company, Inc. 1 6.25% $8,230
    SOUTHERN TRUST MORTGAGE, LLC 1 6.38% $10,218
    Texana Bank 1 6.50% $14,934
    THE MORTGAGE LINK, INC. 1 7.25% $13,428
    TOP FLITE FINANCIAL, INC. 1 7.38% $18,771
    Towne Bank 1 6.63% $10,231
    UNION HOME MORTGAGE CORP. 1 5.63% $11,078
    Univest Bank and Trust Co. 1 5.63% $9,757
    Wells Fargo Bank 1 5.63% $13,064
    ABSOLUTE HOME MORTGAGE CORPORATION 1 7.13% $16,768

    The top Salisbury FHA lender as defined by loan originations is NVR Mortgage Finance, Inc., with 115 FHA loans originated. Their average total fees are $13,845, which is $1,540 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Salisbury FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($10,332), MOVEMENT MORTGAGE, LLC ($10,842), Prosperity Home Mortgage, LLC ($10,990), CMG MORTGAGE, INC. ($10,992) and GUARANTEED RATE AFFINITY, LLC ($11,010).

    The lowest rate Salisbury FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.43%), PENNYMAC LOAN SERVICES, LLC (5.90%), Capital Bank (5.99%), GUILD MORTGAGE COMPANY (6.10%) and PIKE CREEK MORTGAGE SERVICES, INC. (6.13%).

    Salisbury FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    SALISBURY, MD-DE SUSSEX 2022 $420,680 $538,650 $651,050 $809,150
    SALISBURY, MD-DE SOMERSET 2022 $420,680 $538,650 $651,050 $809,150
    SALISBURY, MD-DE WICOMICO 2022 $420,680 $538,650 $651,050 $809,150
    SALISBURY, MD-DE WORCESTER 2022 $420,680 $538,650 $651,050 $809,150
    SALISBURY, MD-DE SUSSEX 2023 $472,030 $604,400 $730,525 $907,900
    SALISBURY, MD-DE SOMERSET 2023 $472,030 $604,400 $730,525 $907,900
    SALISBURY, MD-DE WICOMICO 2023 $472,030 $604,400 $730,525 $907,900
    SALISBURY, MD-DE WORCESTER 2023 $472,030 $604,400 $730,525 $907,900

    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).