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 114 lenders originated 1,262 FHA loans during 2023. The total origination value was $339,200,000, with an average FHA loan value of $268,780.

    Salisbury FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Salisbury averaged 6.6% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Salisbury's average FHA mortgage closing costs are $8,742.

    The average rate for the prior week (2025-02-07) was 6.42% and one month ago for the week of 2025-01-10, the average rate was 6.68%.

    The average rate one year ago was 6.71%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.49%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 111 6.14% $12,005
    MOVEMENT MORTGAGE, LLC 88 6.57% $11,091
    Meridian Bank Corporation 73 6.57% $13,083
    TIDEWATER MORTGAGE SERVICES, INC. 72 6.76% $12,086
    DHI MORTGAGE COMPANY, LTD. 60 5.62% $11,668
    NVR Mortgage Finance, Inc. 52 6.06% $14,787
    CMG MORTGAGE, INC. 50 6.43% $10,639
    Waterstone Mortgage Corporation 48 6.49% $13,688
    LOANDEPOT.COM, LLC 35 6.32% $12,584
    Prosperity Home Mortgage, LLC 26 6.54% $12,337
    NEWREZ LLC 25 6.52% $12,579
    UNITED WHOLESALE MORTGAGE, LLC 25 6.50% $14,003
    PENNYMAC LOAN SERVICES, LLC 24 6.13% $12,569
    Carrington Mortgage Services, LLC 20 6.44% $9,360
    GUARANTEED RATE AFFINITY, LLC 20 6.65% $12,521
    Ixonia Bank 20 6.71% $13,702
    EAGLE HOME MORTGAGE, LLC 19 6.11% $14,385
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 19 6.44% $14,469
    NFM, INC. 18 6.74% $11,660
    HOMESIDE FINANCIAL, LLC 16 6.63% $14,065
    PRIMELENDING, A PLAINSCAPITAL COMPANY 15 7.13% $9,874
    FIRST HOME MORTGAGE CORPORATION 15 6.43% $15,121
    Evolve Bank & Trust 15 6.42% $12,855
    Nations Lending Corporation 14 6.57% $10,909
    Keystone Funding, Inc. 14 6.35% $14,074
    FREEDOM MORTGAGE CORPORATION 13 6.91% $14,958
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.68% $11,429
    CARDINAL FINANCIAL 12 6.33% $12,821
    GUILD MORTGAGE COMPANY 12 6.24% $12,992
    CHURCHILL MORTGAGE CORPORATION 11 6.97% $11,126
    AMERISAVE MORTGAGE CORPORATION 11 5.91% $16,690
    DIRECT MORTGAGE LOANS, LLC 9 7.17% $12,905
    BROKER SOLUTIONS, INC. 9 6.60% $14,435
    CROSSCOUNTRY MORTGAGE, LLC 9 7.05% $13,540
    BAYSHORE MORTGAGE FUNDING, LLC 9 6.75% $16,295
    PIKE CREEK MORTGAGE SERVICES, INC. 7 6.66% $11,584
    HOMEBRIDGE FINANCIAL SERVICES, INC. 6 6.04% $13,167
    ALLIED MORTGAGE GROUP, INC. 6 6.44% $15,514
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 7.10% $15,307
    MUTUAL OF OMAHA MORTGAGE, INC. 5 6.75% $14,904
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 5 6.90% $9,742
    The Federal Savings Bank 5 6.25% $15,752
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 5 6.35% $5,139
    EMBRACE HOME LOANS, INC. 5 6.52% $12,448
    Equity Prime Mortgage LLC 5 6.05% $13,998
    Plains Commerce Bank 4 6.28% $10,536
    Capital Bank 4 6.38% $15,752
    SUN WEST MORTGAGE COMPANY, INC. 4 6.50% $15,605
    LAKEVIEW LOAN SERVICING, LLC 4 5.97% $10,034
    Towne Bank 4 5.63% $12,664
    M&T Bank 4 6.72% $8,077
    Mr. Cooper ( Nationstar Mortgage ) 4 5.88% $14,741
    CALIBER HOME LOANS, INC. 3 6.41% $10,906
    RELIANCE FIRST CAPITAL, LLC 3 6.50% $11,420
    MY MORTGAGE, INC. 3 6.88% $9,012
    NORWICH COMMERCIAL GROUP, INC. 3 6.21% $13,927
    PLAZA HOME MORTGAGE, INC. 3 6.17% $7,889
    Truist 3 6.25% $9,306
    PNC Bank 3 6.63% $7,603
    DRAPER AND KRAMER MORTGAGE CORP. 3 5.96% $11,958
    HOMESPIRE MORTGAGE CORPORATION 3 7.17% $10,666
    THE MORTGAGE LINK, INC. 3 6.67% $12,313
    LOANPAL, LLC 2 5.81% $14,061
    American Mortgage & Equity Consultants, Inc. 2 6.94% $8,643
    Barrington Bank & Trust Company, N.A. 2 6.25% $13,038
    EMM LOANS LLC 2 6.19% $12,254
    Flagstar Bank, FSB 2 6.38% $7,639
    GUARANTEED RATE, INC. 2 6.40% $10,258
    PENTAGON FEDERAL CREDIT UNION 2 5.81% $9,530
    VILLAGE CAPITAL MORTGAGE 2 6.57% $7,455
    MILEND, INC. 1 6.63% $14,780
    MID AMERICA MORTGAGE, INC. 1 7.63% $8,210
    Northpointe Bank 1 5.50% $13,303
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 7.25% $20,475
    ABSOLUTE HOME MORTGAGE CORPORATION 1 8.50% $10,629
    JPMorgan Chase Bank 1 6.88% $7,972
    Wells Fargo Bank 1 5.88% $13,064
    INTERCOASTAL MORTGAGE COMPANY 1 6.25% $8,321
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.25% $13,826
    PLANET HOME LENDING, LLC 1 5.50% $9,379
    Fulton Bank 1 5.88% $21,537
    First Federal Bank 1 5.88% $10,836
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.50% $15,784
    FIDELITY DIRECT MORTGAGE, LLC 1 6.00% $17,439
    EVERETT FINANCIAL, INC. 1 7.00% $14,315
    ENVOY MORTGAGE, LTD 1 6.25% $20,615
    Citizens Bank 1 6.25% $13,906
    BNC National Bank 1 5.75% $8,761
    Sandy Spring Bank 1 5.75% $9,294
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.75% $17,246
    Shore United Bank 1 6.63% $18,096
    Sierra Pacific Mortgage Company, Inc. 1 6.25% $10,831
    SOUTHERN TRUST MORTGAGE, LLC 1 6.75% $7,968
    BAY EQUITY LLC 1 7.63% $17,360
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.38% $11,022
    SUMMIT FUNDING, INC. 1 7.25% $9,859
    BAY CAPITAL MORTGAGE CORPORATION 1 6.50% $10,252
    SWBC MORTGAGE CORPORATION 1 6.13% $13,593
    Bank of America 1 6.50% $10,904
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.50% $10,702
    Ameris Bank 1 6.75% $7,802
    TJC Mortgage, Inc. 1 7.00% $7,222
    TOP FLITE FINANCIAL, INC. 1 7.38% $18,771
    AmeriHome Mortgage Company, LLC 1 6.63% $8,321
    AMERICAN FINANCIAL NETWORK, INC. 1 7.63% $13,498
    UNION HOME MORTGAGE CORP. 1 7.13% $10,082
    Alcova Mortgage LLC 1 6.63% $7,539
    UNIVERSAL MORTGAGE & FINANCE, INC. 1 6.13% $21,789
    US MORTGAGE CORPORATION 1 5.63% $17,299
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.25% $12,371
    Wilmington Savings Fund Society, FSB 1 7.00% $9,050
    ACADEMY MORTGAGE CORPORATION 1 5.25% $14,457
    Mortgage Research Center, LLC 1 6.63% $6,023
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.25% $9,047

    The top Salisbury FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 111 FHA loans originated. Their average total fees are $12,005, which is $915 higher than the next largest lender, MOVEMENT MORTGAGE, LLC.

    The lowest fee Salisbury FHA lenders (with over 10 loans originated) are Carrington Mortgage Services, LLC ($9,360), PRIMELENDING, A PLAINSCAPITAL COMPANY ($9,874), CMG MORTGAGE, INC. ($10,639), Nations Lending Corporation ($10,909) and MOVEMENT MORTGAGE, LLC ($11,091).

    The lowest rate Salisbury FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.62%), AMERISAVE MORTGAGE CORPORATION (5.91%), NVR Mortgage Finance, Inc. (6.06%), EAGLE HOME MORTGAGE, LLC (6.11%) and PENNYMAC LOAN SERVICES, LLC (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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Salisbury (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 $159,000 (6.1%) $197,487 (3.3%) 1.11 517
    2018-02-01 $159,900 (3.2%) $198,864 (2.5%) 1.10 489
    2018-03-01 $164,900 (0.0%) $211,539 (4.7%) 1.07 481
    2018-04-01 $164,900 (3.1%) $215,961 (6.4%) 1.06 483
    2018-05-01 $169,450 (4.3%) $219,796 (7.6%) 1.05 502
    2018-06-01 $169,900 (3.6%) $219,935 (8.9%) 1.05 535
    2018-07-01 $174,900 (9.3%) $224,057 (9.7%) 1.06 542
    2018-08-01 $174,900 (9.4%) $222,856 (7.4%) 1.07 559
    2018-09-01 $179,000 (11.9%) $225,203 (11.0%) 1.07 564
    2018-10-01 $179,900 (12.5%) $225,083 (10.3%) 1.08 554
    2018-11-01 $181,488 (13.5%) $230,209 (13.4%) 1.08 527
    2018-12-01 $179,900 (12.5%) $225,156 (14.0%) 1.10 522
    2019-01-01 $177,000 (11.3%) $219,860 (11.3%) 1.08 516
    2019-02-01 $177,000 (10.7%) $219,500 (10.4%) 1.07 509
    2019-03-01 $185,814 (12.7%) $224,185 (6.0%) 1.05 503
    2019-04-01 $195,175 (18.4%) $232,846 (7.8%) 1.04 506
    2019-05-01 $199,425 (17.7%) $235,779 (7.3%) 1.04 511
    2019-06-01 $199,900 (17.7%) $238,010 (8.2%) 1.05 526
    2019-07-01 $199,900 (14.3%) $243,310 (8.6%) 1.05 529
    2019-08-01 $204,927 (17.2%) $244,721 (9.8%) 1.07 507
    2019-09-01 $204,968 (14.5%) $245,562 (9.0%) 1.07 498
    2019-10-01 $204,945 (13.9%) $245,383 (9.0%) 1.08 487
    2019-11-01 $199,900 (10.2%) $241,273 (4.8%) 1.09 469
    2019-12-01 $202,450 (12.5%) $244,400 (8.6%) 1.10 427
    2020-01-01 $199,675 (12.8%) $244,581 (11.2%) 1.10 402
    2020-02-01 $199,000 (12.4%) $235,179 (7.1%) 1.08 423
    2020-03-01 $196,950 (6.0%) $229,865 (2.5%) 1.06 427
    2020-04-01 $189,990 (-2.7%) $225,369 (-3.2%) 1.06 439
    2020-05-01 $199,000 (-0.2%) $231,580 (-1.8%) 1.03 384
    2020-06-01 $213,600 (6.9%) $243,771 (2.4%) 1.02 360
    2020-07-01 $199,000 (-0.5%) $242,077 (-0.5%) 1.01 340
    2020-08-01 $199,000 (-2.9%) $246,005 (0.5%) 1.02 300
    2020-09-01 $199,900 (-2.5%) $254,417 (3.6%) 1.02 290
    2020-10-01 $209,900 (2.4%) $255,305 (4.0%) 1.02 282
    2020-11-01 $205,950 (3.0%) $249,847 (3.6%) 1.04 283
    2020-12-01 $196,975 (-2.7%) $249,947 (2.3%) 1.07 255
    2021-01-01 $190,000 (-4.9%) $249,181 (1.9%) 1.07 237
    2021-02-01 $186,000 (-6.5%) $247,179 (5.1%) 1.07 204
    2021-03-01 $199,950 (1.5%) $267,417 (16.3%) 1.08 204
    2021-04-01 $214,675 (13.0%) $291,782 (29.5%) 1.06 197
    2021-05-01 $222,500 (11.8%) $304,546 (31.5%) 1.06 188
    2021-06-01 $221,173 (3.6%) $292,544 (20.0%) 1.08 205
    2021-07-01 $229,450 (15.3%) $305,331 (26.1%) 1.11 235
    2021-08-01 $235,000 (18.1%) $303,804 (23.5%) 1.13 227
    2021-09-01 $242,400 (21.3%) $304,172 (19.6%) 1.13 212
    2021-10-01 $249,900 (19.1%) $317,511 (24.4%) 1.17 232
    2021-11-01 $247,150 (20.0%) $327,036 (30.9%) 1.18 228
    2021-12-01 $239,700 (21.7%) $321,568 (28.7%) 1.21 211
    2022-01-01 $238,145 (25.3%) $315,417 (26.6%) 1.24 177
    2022-02-01 $249,900 (34.4%) $312,792 (26.5%) 1.26 173
    2022-03-01 $231,761 (15.9%) $312,473 (16.9%) 1.22 176
    2022-04-01 $250,000 (16.5%) $320,351 (9.8%) 1.19 159
    2022-05-01 $270,673 (21.7%) $353,639 (16.1%) 1.14 167
    2022-06-01 $273,871 (23.8%) $350,347 (19.8%) 1.11 179
    2022-07-01 $282,500 (23.1%) $340,015 (11.4%) 1.15 197
    2022-08-01 $276,699 (17.7%) $332,515 (9.5%) 1.16 221
    2022-09-01 $273,248 (12.7%) $319,813 (5.1%) 1.17 242
    2022-10-01 $279,900 (12.0%) $334,734 (5.4%) 1.19 220
    2022-11-01 $288,448 (16.7%) $337,931 (3.3%) 1.20 211
    2022-12-01 $272,448 (13.7%) $325,696 (1.3%) 1.22 218
    2023-01-01 $266,175 (11.8%) $325,283 (3.1%) 1.23 192
    2023-02-01 $260,748 (4.3%) $319,174 (2.0%) 1.22 197
    2023-03-01 $262,450 (13.2%) $304,974 (-2.4%) 1.19 183
    2023-04-01 $269,000 (7.6%) $318,671 (-0.5%) 1.23 177
    2023-05-01 $269,450 (-0.5%) $333,114 (-5.8%) 1.20 180
    2023-06-01 $294,900 (7.7%) $355,593 (1.5%) 1.19 176
    2023-07-01 $277,000 (-2.0%) $332,155 (-2.3%) 1.18 183
    2023-08-01 $279,900 (1.2%) $332,025 (-0.2%) 1.18 181
    2023-09-01 $282,450 (3.4%) $328,845 (2.8%) 1.19 200
    2023-10-01 $279,450 (-0.2%) $319,225 (-4.6%) 1.20 222
    2023-11-01 $275,000 (-4.7%) $312,622 (-7.5%) 1.18 243
    2023-12-01 $275,000 (0.9%) $309,758 (-4.9%) 1.18 236
    2024-01-01 $275,000 (3.3%) $324,143 (-0.4%) 1.18 224
    2024-02-01 $254,950 (-2.2%) $300,773 (-5.8%) 1.17 254
    2024-03-01 $262,500 (0.0%) $297,168 (-2.6%) 1.18 247
    2024-04-01 $280,950 (4.4%) $328,988 (3.2%) 1.17 230
    2024-05-01 $284,225 (5.5%) $353,352 (6.1%) 1.18 256
    2024-06-01 $295,000 (0.0%) $358,514 (0.8%) 1.17 248
    2024-07-01 $299,450 (8.1%) $351,656 (5.9%) 1.18 257
    2024-08-01 $297,000 (6.1%) $346,626 (4.4%) 1.17 274
    2024-09-01 $294,900 (4.4%) $345,418 (5.0%) 1.18 299
    2024-10-01 $297,450 (6.4%) $350,764 (9.9%) 1.17 343
    2024-11-01 $299,000 (8.7%) $345,295 (10.5%) 1.16 354
    2024-12-01 $299,900 (9.1%) $348,084 (12.4%) 1.21 321
    2025-01-01 $299,900 (9.1%) $347,437 (7.2%) 0.00 299
    Salisbury's median listing price for 2025-01-01 was $299,900, a difference of $24,900 (9.1%) versus the prior year and $0 versus the prior month.

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

    Salisbury's average listing price for 2025-01-01 was $347,437, a difference of $23,294 (7.2%) versus the prior year and $-647 versus the prior month.

    For the 2025-01-01 period, Salisbury had 299 MLS listings, a difference of -22 listings (-7%) versus the prior month and 75 listings (33%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Salisbury (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 111 days 1,620 sqft
    2018-02-01 104 days 1,626 sqft
    2018-03-01 85 days 1,625 sqft
    2018-04-01 76 days 1,643 sqft
    2018-05-01 76 days 1,645 sqft
    2018-06-01 80 days 1,664 sqft
    2018-07-01 85 days 1,716 sqft
    2018-08-01 89 days 1,717 sqft
    2018-09-01 89 days 1,712 sqft
    2018-10-01 85 days 1,731 sqft
    2018-11-01 91 days 1,760 sqft
    2018-12-01 100 days 1,738 sqft
    2019-01-01 110 days 1,700 sqft
    2019-02-01 111 days 1,678 sqft
    2019-03-01 94 days 1,719 sqft
    2019-04-01 74 days 1,751 sqft
    2019-05-01 75 days 1,755 sqft
    2019-06-01 79 days 1,730 sqft
    2019-07-01 85 days 1,734 sqft
    2019-08-01 85 days 1,776 sqft
    2019-09-01 83 days 1,806 sqft
    2019-10-01 82 days 1,816 sqft
    2019-11-01 86 days 1,802 sqft
    2019-12-01 98 days 1,791 sqft
    2020-01-01 106 days 1,748 sqft
    2020-02-01 96 days 1,684 sqft
    2020-03-01 72 days 1,675 sqft
    2020-04-01 77 days 1,629 sqft
    2020-05-01 90 days 1,675 sqft
    2020-06-01 96 days 1,694 sqft
    2020-07-01 82 days 1,652 sqft
    2020-08-01 61 days 1,650 sqft
    2020-09-01 51 days 1,643 sqft
    2020-10-01 57 days 1,649 sqft
    2020-11-01 61 days 1,628 sqft
    2020-12-01 69 days 1,592 sqft
    2021-01-01 78 days 1,536 sqft
    2021-02-01 73 days 1,528 sqft
    2021-03-01 57 days 1,551 sqft
    2021-04-01 51 days 1,614 sqft
    2021-05-01 49 days 1,748 sqft
    2021-06-01 41 days 1,746 sqft
    2021-07-01 40 days 1,765 sqft
    2021-08-01 46 days 1,723 sqft
    2021-09-01 47 days 1,774 sqft
    2021-10-01 49 days 1,792 sqft
    2021-11-01 49 days 1,792 sqft
    2021-12-01 62 days 1,682 sqft
    2022-01-01 73 days 1,612 sqft
    2022-02-01 55 days 1,633 sqft
    2022-03-01 39 days 1,607 sqft
    2022-04-01 42 days 1,672 sqft
    2022-05-01 44 days 1,796 sqft
    2022-06-01 42 days 1,804 sqft
    2022-07-01 47 days 1,800 sqft
    2022-08-01 51 days 1,845 sqft
    2022-09-01 55 days 1,837 sqft
    2022-10-01 56 days 1,884 sqft
    2022-11-01 57 days 1,919 sqft
    2022-12-01 77 days 1,864 sqft
    2023-01-01 91 days 1,852 sqft
    2023-02-01 84 days 1,762 sqft
    2023-03-01 54 days 1,682 sqft
    2023-04-01 55 days 1,680 sqft
    2023-05-01 51 days 1,612 sqft
    2023-06-01 50 days 1,692 sqft
    2023-07-01 53 days 1,629 sqft
    2023-08-01 57 days 1,620 sqft
    2023-09-01 54 days 1,652 sqft
    2023-10-01 50 days 1,589 sqft
    2023-11-01 52 days 1,618 sqft
    2023-12-01 63 days 1,591 sqft
    2024-01-01 75 days 1,555 sqft
    2024-02-01 70 days 1,465 sqft
    2024-03-01 50 days 1,497 sqft
    2024-04-01 51 days 1,565 sqft
    2024-05-01 52 days 1,554 sqft
    2024-06-01 57 days 1,598 sqft
    2024-07-01 63 days 1,645 sqft
    2024-08-01 64 days 1,604 sqft
    2024-09-01 59 days 1,613 sqft
    2024-10-01 60 days 1,623 sqft
    2024-11-01 64 days 1,608 sqft
    2024-12-01 75 days 1,607 sqft
    2025-01-01 0 days 1,575 sqft
    Salisbury's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Salisbury's median square footage for active listings during the 2025-01-01 period was 1,575 sqft. One year prior, the average listing was 1,555 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).