Utica FHA Loan Rates, Closing Costs & Stats
UTICA-ROME, NY
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.
Utica's 45 lenders originated 478 FHA loans during 2023. The total origination value was $77,580,000, with an average FHA loan value of $162,301.
Utica FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Utica
averaged
-0.39%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Utica's average FHA mortgage closing costs are $6,342.
The average rate for the prior week (2024-11-22) was
6.4% and
one month ago for the week of 2024-10-25, the
average rate was 5.88%.
The average rate one year ago was 7.07%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.24%.
Utica 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 Utica level.
The top Utica FHA lender as defined by loan originations is PLAZA HOME MORTGAGE, INC., with
116 FHA loans originated. Their average total fees are
$9,470, which is $843
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Utica FHA lenders (with over 10 loans originated) are
Premium Mortgage Corporation ($4,816), HOMESTEAD FUNDING CORP. ($5,293), AMERICU Credit Union ($6,590), KeyBank ($7,178) and M&T Bank ($7,531).
The lowest rate Utica FHA lenders (with over 10 loans originated) are
AMERICU Credit Union (6.03%), KeyBank (6.27%), PLAZA HOME MORTGAGE, INC. (6.30%), HOMESTEAD FUNDING CORP. (6.46%) and M&T Bank (6.47%).
Utica FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
UTICA-ROME, NY | HERKIMER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
UTICA-ROME, NY | ONEIDA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
UTICA-ROME, NY | HERKIMER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
UTICA-ROME, NY | ONEIDA | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Utica (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 | $124,425 (3.8%) | $188,284 (7.1%) | 0.46 | 903 |
2018-02-01 | $125,975 (0.9%) | $193,025 (6.2%) | 0.46 | 878 |
2018-03-01 | $129,250 (-0.2%) | $196,765 (5.9%) | 0.45 | 849 |
2018-04-01 | $139,250 (7.2%) | $204,120 (7.6%) | 0.47 | 846 |
2018-05-01 | $138,450 (2.6%) | $203,655 (6.6%) | 0.46 | 865 |
2018-06-01 | $149,000 (6.5%) | $216,767 (13.6%) | 0.50 | 979 |
2018-07-01 | $149,900 (2.0%) | $218,719 (12.6%) | 0.50 | 1,064 |
2018-08-01 | $146,475 (4.3%) | $213,433 (5.3%) | 0.49 | 1,106 |
2018-09-01 | $144,900 (3.6%) | $210,792 (6.9%) | 0.49 | 1,129 |
2018-10-01 | $135,375 (-0.8%) | $197,863 (1.3%) | 0.46 | 1,091 |
2018-11-01 | $133,200 (0.0%) | $199,757 (2.3%) | 0.45 | 1,008 |
2018-12-01 | $129,900 (0.7%) | $197,690 (3.9%) | 0.45 | 943 |
2019-01-01 | $129,900 (4.4%) | $201,842 (7.2%) | 0.45 | 859 |
2019-02-01 | $131,175 (4.1%) | $208,257 (7.9%) | 0.44 | 769 |
2019-03-01 | $139,929 (8.3%) | $217,116 (10.3%) | 0.46 | 744 |
2019-04-01 | $149,900 (7.7%) | $223,671 (9.6%) | 0.48 | 730 |
2019-05-01 | $154,900 (11.9%) | $222,900 (9.5%) | 0.48 | 749 |
2019-06-01 | $154,900 (4.0%) | $225,761 (4.2%) | 0.48 | 818 |
2019-07-01 | $159,900 (6.7%) | $226,446 (3.5%) | 0.50 | 886 |
2019-08-01 | $157,868 (7.8%) | $223,864 (4.9%) | 0.50 | 908 |
2019-09-01 | $154,820 (6.9%) | $224,557 (6.5%) | 0.50 | 915 |
2019-10-01 | $151,175 (11.7%) | $225,019 (13.7%) | 0.49 | 907 |
2019-11-01 | $145,900 (9.5%) | $222,199 (11.2%) | 0.48 | 855 |
2019-12-01 | $145,450 (12.0%) | $221,943 (12.3%) | 0.49 | 764 |
2020-01-01 | $144,950 (11.6%) | $227,115 (12.5%) | 0.48 | 671 |
2020-02-01 | $148,000 (12.8%) | $229,566 (10.2%) | 0.48 | 629 |
2020-03-01 | $154,900 (10.7%) | $223,725 (3.0%) | 0.49 | 590 |
2020-04-01 | $156,975 (4.7%) | $235,692 (5.4%) | 0.49 | 566 |
2020-05-01 | $169,900 (9.7%) | $248,395 (11.4%) | 0.52 | 566 |
2020-06-01 | $179,450 (15.9%) | $249,119 (10.4%) | 0.53 | 538 |
2020-07-01 | $169,900 (6.3%) | $249,554 (10.2%) | 0.49 | 532 |
2020-08-01 | $170,950 (8.3%) | $242,580 (8.4%) | 0.49 | 513 |
2020-09-01 | $172,450 (11.4%) | $237,585 (5.8%) | 0.49 | 513 |
2020-10-01 | $169,900 (12.4%) | $233,247 (3.7%) | 0.49 | 538 |
2020-11-01 | $169,800 (16.4%) | $223,346 (0.5%) | 0.50 | 513 |
2020-12-01 | $167,450 (15.1%) | $222,431 (0.2%) | 0.50 | 475 |
2021-01-01 | $164,700 (13.6%) | $228,334 (0.5%) | 0.49 | 402 |
2021-02-01 | $169,900 (14.8%) | $233,409 (1.7%) | 0.49 | 329 |
2021-03-01 | $176,400 (13.9%) | $252,421 (12.8%) | 0.50 | 288 |
2021-04-01 | $192,400 (22.6%) | $264,519 (12.2%) | 0.52 | 273 |
2021-05-01 | $199,000 (17.1%) | $264,599 (6.5%) | 0.53 | 315 |
2021-06-01 | $199,900 (11.4%) | $284,558 (14.2%) | 0.53 | 347 |
2021-07-01 | $199,900 (17.7%) | $279,271 (11.9%) | 0.53 | 394 |
2021-08-01 | $192,500 (12.6%) | $268,763 (10.8%) | 0.51 | 451 |
2021-09-01 | $198,000 (14.8%) | $272,729 (14.8%) | 0.53 | 470 |
2021-10-01 | $184,950 (8.9%) | $266,709 (14.4%) | 0.49 | 430 |
2021-11-01 | $177,400 (4.5%) | $252,234 (12.9%) | 0.47 | 396 |
2021-12-01 | $179,450 (7.2%) | $254,238 (14.3%) | 0.49 | 347 |
2022-01-01 | $179,000 (8.7%) | $246,613 (8.0%) | 0.48 | 315 |
2022-02-01 | $169,450 (-0.3%) | $244,820 (4.9%) | 0.44 | 265 |
2022-03-01 | $179,900 (2.0%) | $262,173 (3.9%) | 0.45 | 251 |
2022-04-01 | $185,000 (-3.9%) | $263,132 (-0.5%) | 0.44 | 258 |
2022-05-01 | $184,900 (-7.1%) | $282,365 (6.7%) | 0.42 | 304 |
2022-06-01 | $199,900 (0.0%) | $290,195 (2.0%) | 0.45 | 366 |
2022-07-01 | $199,000 (-0.5%) | $279,080 (-0.1%) | 0.45 | 437 |
2022-08-01 | $190,738 (-0.9%) | $263,571 (-1.9%) | 0.44 | 455 |
2022-09-01 | $189,000 (-4.6%) | $252,839 (-7.3%) | 0.44 | 482 |
2022-10-01 | $189,900 (2.7%) | $253,235 (-5.1%) | 0.45 | 487 |
2022-11-01 | $179,450 (1.2%) | $251,089 (-0.5%) | 0.43 | 448 |
2022-12-01 | $175,000 (-2.5%) | $246,419 (-3.1%) | 0.43 | 394 |
2023-01-01 | $174,900 (-2.3%) | $250,158 (1.4%) | 0.43 | 337 |
2023-02-01 | $176,975 (4.4%) | $253,481 (3.5%) | 0.43 | 293 |
2023-03-01 | $188,450 (4.8%) | $266,768 (1.8%) | 0.44 | 279 |
2023-04-01 | $197,500 (6.8%) | $272,878 (3.7%) | 0.46 | 269 |
2023-05-01 | $206,175 (11.5%) | $276,952 (-1.9%) | 0.47 | 290 |
2023-06-01 | $209,950 (5.0%) | $287,098 (-1.1%) | 0.47 | 297 |
2023-07-01 | $228,250 (14.7%) | $315,641 (13.1%) | 0.52 | 335 |
2023-08-01 | $229,125 (20.1%) | $313,034 (18.8%) | 0.53 | 385 |
2023-09-01 | $229,000 (21.2%) | $322,159 (27.4%) | 0.53 | 416 |
2023-10-01 | $224,725 (18.3%) | $315,161 (24.5%) | 0.53 | 410 |
2023-11-01 | $229,450 (27.9%) | $313,641 (24.9%) | 0.55 | 416 |
2023-12-01 | $229,000 (30.9%) | $315,949 (28.2%) | 0.56 | 392 |
2024-01-01 | $234,500 (34.1%) | $317,640 (27.0%) | 0.57 | 356 |
2024-02-01 | $238,250 (34.6%) | $323,918 (27.8%) | 0.57 | 328 |
2024-03-01 | $239,900 (27.3%) | $332,473 (24.6%) | 0.56 | 322 |
2024-04-01 | $249,900 (26.5%) | $342,753 (25.6%) | 0.58 | 333 |
2024-05-01 | $259,675 (26.0%) | $347,925 (25.6%) | 0.59 | 373 |
2024-06-01 | $262,400 (25.0%) | $361,647 (26.0%) | 0.59 | 403 |
2024-07-01 | $267,000 (17.0%) | $354,684 (12.4%) | 0.61 | 431 |
2024-08-01 | $269,900 (17.8%) | $355,066 (13.4%) | 0.63 | 474 |
2024-09-01 | $259,900 (13.5%) | $349,892 (8.6%) | 0.61 | 475 |
2024-10-01 | $254,450 (13.2%) | $336,595 (6.8%) | 0.60 | 487 |
Utica's median listing price comes in at 60% of the national average.
Utica's average listing price for 2024-10-01 was $336,595, a difference of $21,434 (6.8%) versus the prior year and $-13,297 versus the prior month.
For the 2024-10-01 period, Utica had 487 MLS listings, a difference of 12 listings (3%) versus the prior month and 77 listings (19%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Utica (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 106 days | 1,522 sqft |
2018-02-01 | 105 days | 1,554 sqft |
2018-03-01 | 103 days | 1,568 sqft |
2018-04-01 | 86 days | 1,624 sqft |
2018-05-01 | 53 days | 1,648 sqft |
2018-06-01 | 50 days | 1,678 sqft |
2018-07-01 | 56 days | 1,667 sqft |
2018-08-01 | 59 days | 1,676 sqft |
2018-09-01 | 67 days | 1,662 sqft |
2018-10-01 | 74 days | 1,625 sqft |
2018-11-01 | 83 days | 1,633 sqft |
2018-12-01 | 92 days | 1,594 sqft |
2019-01-01 | 94 days | 1,580 sqft |
2019-02-01 | 98 days | 1,579 sqft |
2019-03-01 | 88 days | 1,625 sqft |
2019-04-01 | 70 days | 1,660 sqft |
2019-05-01 | 55 days | 1,668 sqft |
2019-06-01 | 47 days | 1,665 sqft |
2019-07-01 | 51 days | 1,660 sqft |
2019-08-01 | 56 days | 1,655 sqft |
2019-09-01 | 63 days | 1,664 sqft |
2019-10-01 | 68 days | 1,667 sqft |
2019-11-01 | 71 days | 1,650 sqft |
2019-12-01 | 92 days | 1,640 sqft |
2020-01-01 | 107 days | 1,645 sqft |
2020-02-01 | 106 days | 1,632 sqft |
2020-03-01 | 106 days | 1,668 sqft |
2020-04-01 | 104 days | 1,680 sqft |
2020-05-01 | 113 days | 1,700 sqft |
2020-06-01 | 95 days | 1,664 sqft |
2020-07-01 | 53 days | 1,658 sqft |
2020-08-01 | 60 days | 1,664 sqft |
2020-09-01 | 57 days | 1,703 sqft |
2020-10-01 | 54 days | 1,680 sqft |
2020-11-01 | 63 days | 1,677 sqft |
2020-12-01 | 78 days | 1,679 sqft |
2021-01-01 | 93 days | 1,641 sqft |
2021-02-01 | 103 days | 1,632 sqft |
2021-03-01 | 85 days | 1,642 sqft |
2021-04-01 | 62 days | 1,708 sqft |
2021-05-01 | 38 days | 1,680 sqft |
2021-06-01 | 35 days | 1,684 sqft |
2021-07-01 | 42 days | 1,688 sqft |
2021-08-01 | 41 days | 1,655 sqft |
2021-09-01 | 45 days | 1,663 sqft |
2021-10-01 | 56 days | 1,656 sqft |
2021-11-01 | 62 days | 1,651 sqft |
2021-12-01 | 76 days | 1,663 sqft |
2022-01-01 | 81 days | 1,623 sqft |
2022-02-01 | 75 days | 1,585 sqft |
2022-03-01 | 63 days | 1,584 sqft |
2022-04-01 | 54 days | 1,626 sqft |
2022-05-01 | 42 days | 1,603 sqft |
2022-06-01 | 35 days | 1,654 sqft |
2022-07-01 | 43 days | 1,632 sqft |
2022-08-01 | 50 days | 1,630 sqft |
2022-09-01 | 53 days | 1,600 sqft |
2022-10-01 | 58 days | 1,585 sqft |
2022-11-01 | 62 days | 1,591 sqft |
2022-12-01 | 76 days | 1,584 sqft |
2023-01-01 | 82 days | 1,584 sqft |
2023-02-01 | 90 days | 1,588 sqft |
2023-03-01 | 79 days | 1,601 sqft |
2023-04-01 | 68 days | 1,600 sqft |
2023-05-01 | 49 days | 1,593 sqft |
2023-06-01 | 48 days | 1,585 sqft |
2023-07-01 | 44 days | 1,644 sqft |
2023-08-01 | 44 days | 1,632 sqft |
2023-09-01 | 52 days | 1,628 sqft |
2023-10-01 | 60 days | 1,617 sqft |
2023-11-01 | 60 days | 1,668 sqft |
2023-12-01 | 70 days | 1,653 sqft |
2024-01-01 | 76 days | 1,656 sqft |
2024-02-01 | 79 days | 1,631 sqft |
2024-03-01 | 68 days | 1,628 sqft |
2024-04-01 | 59 days | 1,637 sqft |
2024-05-01 | 48 days | 1,633 sqft |
2024-06-01 | 44 days | 1,700 sqft |
2024-07-01 | 50 days | 1,703 sqft |
2024-08-01 | 50 days | 1,677 sqft |
2024-09-01 | 60 days | 1,660 sqft |
2024-10-01 | 66 days | 1,648 sqft |
Utica's median square footage for active listings during the 2024-10-01 period was 1,648 sqft. One year prior, the average listing was 1,617 sqft.