Vineland FHA Loan Rates, Closing Costs & Stats
VINELAND-BRIDGETON, NJ
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.
Vineland's 77 lenders originated 651 FHA loans during 2023. The total origination value was $149,505,000, with an average FHA loan value of $229,654.
Vineland FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Vineland
averaged
6.09%
for the week of 2024-10-11, compared to the national average (all FHA variants) of
6.1% for the same period.
Vineland's average FHA mortgage closing costs are $7,498.
The average rate for the prior week (2024-10-04) was
6.11% and
one month ago for the week of 2024-09-06, the
average rate was 6.04%.
The average rate one year ago was 7.37%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.2%.
Vineland 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 Vineland level.
The top Vineland FHA lender as defined by loan originations is NATION ONE MORTGAGE CORPORATION, with
199 FHA loans originated. Their average total fees are
$12,862, which is $2,967
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Vineland FHA lenders (with over 10 loans originated) are
Gateway First Bank ($8,718), LOANDEPOT.COM, LLC ($8,790), Prosperity Home Mortgage, LLC ($9,519), QUICKEN LOANS, LLC ($9,895) and GREENTREE MORTGAGE COMPANY, L.P. ($10,405).
The lowest rate Vineland FHA lenders (with over 10 loans originated) are
Prosperity Home Mortgage, LLC (6.17%), QUICKEN LOANS, LLC (6.31%), UNITED WHOLESALE MORTGAGE, LLC (6.38%), Gateway First Bank (6.47%) and NATION ONE MORTGAGE CORPORATION (6.47%).
Vineland FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
VINELAND-BRIDGETON, NJ | CUMBERLAND | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
VINELAND-BRIDGETON, NJ | CUMBERLAND | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Vineland (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 | $129,225 (-0.6%) | $142,288 (-3.8%) | 0.00 | 724 |
2018-02-01 | $129,450 (-0.4%) | $141,315 (-6.1%) | 0.00 | 731 |
2018-03-01 | $132,700 (-2.4%) | $142,511 (-6.4%) | 0.00 | 731 |
2018-04-01 | $129,450 (-5.5%) | $142,426 (-7.4%) | 0.00 | 767 |
2018-05-01 | $139,900 (2.1%) | $152,885 (-1.5%) | 0.00 | 741 |
2018-06-01 | $139,900 (0.7%) | $151,806 (-3.2%) | 0.00 | 780 |
2018-07-01 | $140,000 (0.1%) | $152,700 (-3.3%) | 0.00 | 802 |
2018-08-01 | $139,950 (0.0%) | $357,723 (131.0%) | 0.00 | 844 |
2018-09-01 | $142,500 (5.6%) | $359,823 (137.7%) | 0.00 | 837 |
2018-10-01 | $141,725 (7.6%) | $152,303 (2.3%) | 0.00 | 829 |
2018-11-01 | $139,900 (7.7%) | $151,967 (5.0%) | 0.00 | 815 |
2018-12-01 | $135,000 (3.9%) | $150,585 (4.7%) | 0.00 | 781 |
2019-01-01 | $134,950 (4.4%) | $148,009 (4.0%) | 0.00 | 739 |
2019-02-01 | $135,450 (4.6%) | $150,334 (6.4%) | 0.00 | 757 |
2019-03-01 | $139,186 (4.9%) | $152,714 (7.2%) | 0.00 | 754 |
2019-04-01 | $139,900 (8.1%) | $154,662 (8.6%) | 0.00 | 743 |
2019-05-01 | $142,500 (1.9%) | $158,924 (4.0%) | 0.00 | 746 |
2019-06-01 | $145,000 (3.7%) | $161,137 (6.2%) | 0.00 | 773 |
2019-07-01 | $148,475 (6.1%) | $161,980 (6.1%) | 0.00 | 782 |
2019-08-01 | $146,091 (4.4%) | $183,659 (-48.7%) | 0.00 | 756 |
2019-09-01 | $147,727 (3.7%) | $172,111 (-52.2%) | 0.00 | 721 |
2019-10-01 | $147,268 (3.9%) | $163,222 (7.2%) | 0.00 | 695 |
2019-11-01 | $145,000 (3.7%) | $160,775 (5.8%) | 0.00 | 670 |
2019-12-01 | $139,950 (3.7%) | $159,813 (6.1%) | 0.00 | 630 |
2020-01-01 | $144,750 (7.3%) | $161,392 (9.0%) | 0.00 | 582 |
2020-02-01 | $150,000 (10.7%) | $164,698 (9.6%) | 0.00 | 577 |
2020-03-01 | $150,000 (7.8%) | $167,829 (9.9%) | 0.00 | 573 |
2020-04-01 | $151,725 (8.5%) | $171,175 (10.7%) | 0.00 | 517 |
2020-05-01 | $160,000 (12.3%) | $205,239 (29.1%) | 0.00 | 480 |
2020-06-01 | $158,850 (9.6%) | $212,251 (31.7%) | 0.00 | 402 |
2020-07-01 | $154,450 (4.0%) | $216,166 (33.5%) | 0.00 | 356 |
2020-08-01 | $157,000 (7.5%) | $224,726 (22.4%) | 0.00 | 329 |
2020-09-01 | $159,900 (8.2%) | $240,816 (39.9%) | 0.00 | 328 |
2020-10-01 | $164,900 (12.0%) | $252,801 (54.9%) | 0.00 | 316 |
2020-11-01 | $169,325 (16.8%) | $257,651 (60.3%) | 0.00 | 335 |
2020-12-01 | $167,750 (19.9%) | $267,167 (67.2%) | 0.00 | 302 |
2021-01-01 | $160,000 (10.5%) | $262,826 (62.9%) | 0.00 | 296 |
2021-02-01 | $160,000 (6.7%) | $220,196 (33.7%) | 0.00 | 256 |
2021-03-01 | $162,500 (8.3%) | $228,459 (36.1%) | 0.00 | 240 |
2021-04-01 | $168,650 (11.2%) | $231,728 (35.4%) | 0.00 | 223 |
2021-05-01 | $179,000 (11.9%) | $233,978 (14.0%) | 0.00 | 203 |
2021-06-01 | $189,900 (19.6%) | $232,198 (9.4%) | 0.00 | 236 |
2021-07-01 | $192,000 (24.3%) | $239,930 (11.0%) | 0.00 | 279 |
2021-08-01 | $191,950 (22.3%) | $244,495 (8.8%) | 0.00 | 328 |
2021-09-01 | $189,950 (18.8%) | $245,373 (1.9%) | 0.00 | 317 |
2021-10-01 | $190,000 (15.2%) | $331,914 (31.3%) | 0.00 | 316 |
2021-11-01 | $190,950 (12.8%) | $330,703 (28.4%) | 0.00 | 308 |
2021-12-01 | $198,000 (18.0%) | $349,415 (30.8%) | 0.00 | 280 |
2022-01-01 | $199,000 (24.4%) | $381,184 (45.0%) | 0.00 | 232 |
2022-02-01 | $192,500 (20.3%) | $386,479 (75.5%) | 0.00 | 232 |
2022-03-01 | $199,925 (23.0%) | $402,532 (76.2%) | 0.00 | 216 |
2022-04-01 | $199,900 (18.5%) | $379,436 (63.7%) | 0.00 | 225 |
2022-05-01 | $217,200 (21.3%) | $373,350 (59.6%) | 0.00 | 259 |
2022-06-01 | $226,000 (19.0%) | $363,160 (56.4%) | 0.00 | 285 |
2022-07-01 | $230,000 (19.8%) | $355,950 (48.4%) | 0.00 | 313 |
2022-08-01 | $230,000 (19.8%) | $353,394 (44.5%) | 0.00 | 323 |
2022-09-01 | $239,900 (26.3%) | $360,339 (46.9%) | 0.00 | 313 |
2022-10-01 | $245,000 (29.0%) | $366,486 (10.4%) | 0.00 | 314 |
2022-11-01 | $244,175 (27.9%) | $366,090 (10.7%) | 0.00 | 305 |
2022-12-01 | $242,250 (22.4%) | $382,170 (9.4%) | 0.00 | 287 |
2023-01-01 | $238,450 (19.8%) | $392,171 (2.9%) | 0.00 | 252 |
2023-02-01 | $240,000 (24.7%) | $415,918 (7.6%) | 0.00 | 220 |
2023-03-01 | $250,000 (25.1%) | $425,687 (5.8%) | 0.00 | 203 |
2023-04-01 | $269,900 (35.0%) | $466,801 (23.0%) | 0.00 | 180 |
2023-05-01 | $254,975 (17.4%) | $443,199 (18.7%) | 0.00 | 187 |
2023-06-01 | $259,450 (14.8%) | $430,330 (18.5%) | 0.00 | 201 |
2023-07-01 | $249,900 (8.7%) | $440,864 (23.9%) | 0.00 | 195 |
2023-08-01 | $258,450 (12.4%) | $428,479 (21.3%) | 0.00 | 221 |
2023-09-01 | $250,000 (4.2%) | $411,412 (14.2%) | 0.00 | 236 |
2023-10-01 | $249,925 (2.0%) | $417,934 (14.0%) | 0.00 | 234 |
2023-11-01 | $254,975 (4.4%) | $316,330 (-13.6%) | 0.00 | 261 |
2023-12-01 | $262,450 (8.3%) | $323,799 (-15.3%) | 0.00 | 249 |
2024-01-01 | $263,250 (10.4%) | $325,337 (-17.0%) | 0.00 | 239 |
2024-02-01 | $258,750 (7.8%) | $284,513 (-31.6%) | 0.00 | 237 |
2024-03-01 | $265,000 (6.0%) | $298,112 (-30.0%) | 0.00 | 243 |
2024-04-01 | $269,900 (0.0%) | $303,010 (-35.1%) | 0.00 | 235 |
2024-05-01 | $282,500 (10.8%) | $301,412 (-32.0%) | 0.00 | 231 |
2024-06-01 | $280,000 (7.9%) | $298,781 (-30.6%) | 0.00 | 255 |
2024-07-01 | $286,000 (14.5%) | $311,444 (-29.4%) | 0.00 | 256 |
2024-08-01 | $285,000 (10.3%) | $318,787 (-25.6%) | 0.00 | 273 |
2024-09-01 | $291,000 (16.4%) | $323,928 (-21.3%) | 0.00 | 289 |
Vineland's median listing price comes in at 0% of the national average.
Vineland's average listing price for 2024-09-01 was $323,928, a difference of $-87,484 (-21.3%) versus the prior year and $5,141 versus the prior month.
For the 2024-09-01 period, Vineland had 289 MLS listings, a difference of 16 listings (6%) versus the prior month and 53 listings (22%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Vineland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,433 sqft |
2018-02-01 | 0 days | 1,404 sqft |
2018-03-01 | 0 days | 1,410 sqft |
2018-04-01 | 0 days | 1,424 sqft |
2018-05-01 | 0 days | 1,461 sqft |
2018-06-01 | 0 days | 1,456 sqft |
2018-07-01 | 0 days | 1,459 sqft |
2018-08-01 | 0 days | 1,457 sqft |
2018-09-01 | 0 days | 1,461 sqft |
2018-10-01 | 0 days | 1,454 sqft |
2018-11-01 | 0 days | 1,446 sqft |
2018-12-01 | 0 days | 1,422 sqft |
2019-01-01 | 0 days | 1,427 sqft |
2019-02-01 | 0 days | 1,438 sqft |
2019-03-01 | 0 days | 1,440 sqft |
2019-04-01 | 0 days | 1,439 sqft |
2019-05-01 | 0 days | 1,459 sqft |
2019-06-01 | 0 days | 1,500 sqft |
2019-07-01 | 0 days | 1,509 sqft |
2019-08-01 | 0 days | 1,503 sqft |
2019-09-01 | 0 days | 1,496 sqft |
2019-10-01 | 0 days | 1,484 sqft |
2019-11-01 | 0 days | 1,461 sqft |
2019-12-01 | 0 days | 1,454 sqft |
2020-01-01 | 0 days | 1,448 sqft |
2020-02-01 | 0 days | 1,442 sqft |
2020-03-01 | 0 days | 1,447 sqft |
2020-04-01 | 0 days | 1,481 sqft |
2020-05-01 | 0 days | 1,508 sqft |
2020-06-01 | 0 days | 1,516 sqft |
2020-07-01 | 0 days | 1,491 sqft |
2020-08-01 | 0 days | 1,488 sqft |
2020-09-01 | 0 days | 1,497 sqft |
2020-10-01 | 0 days | 1,466 sqft |
2020-11-01 | 0 days | 1,527 sqft |
2020-12-01 | 0 days | 1,500 sqft |
2021-01-01 | 0 days | 1,440 sqft |
2021-02-01 | 0 days | 1,385 sqft |
2021-03-01 | 0 days | 1,411 sqft |
2021-04-01 | 0 days | 1,453 sqft |
2021-05-01 | 0 days | 1,449 sqft |
2021-06-01 | 0 days | 1,496 sqft |
2021-07-01 | 0 days | 1,480 sqft |
2021-08-01 | 0 days | 1,467 sqft |
2021-09-01 | 0 days | 1,464 sqft |
2021-10-01 | 0 days | 1,474 sqft |
2021-11-01 | 0 days | 1,486 sqft |
2021-12-01 | 0 days | 1,453 sqft |
2022-01-01 | 0 days | 1,400 sqft |
2022-02-01 | 0 days | 1,406 sqft |
2022-03-01 | 0 days | 1,434 sqft |
2022-04-01 | 0 days | 1,470 sqft |
2022-05-01 | 0 days | 1,491 sqft |
2022-06-01 | 0 days | 1,477 sqft |
2022-07-01 | 0 days | 1,454 sqft |
2022-08-01 | 0 days | 1,440 sqft |
2022-09-01 | 0 days | 1,463 sqft |
2022-10-01 | 0 days | 1,507 sqft |
2022-11-01 | 0 days | 1,489 sqft |
2022-12-01 | 0 days | 1,488 sqft |
2023-01-01 | 0 days | 1,467 sqft |
2023-02-01 | 0 days | 1,446 sqft |
2023-03-01 | 0 days | 1,473 sqft |
2023-04-01 | 0 days | 1,497 sqft |
2023-05-01 | 0 days | 1,497 sqft |
2023-06-01 | 0 days | 1,490 sqft |
2023-07-01 | 0 days | 1,583 sqft |
2023-08-01 | 0 days | 1,478 sqft |
2023-09-01 | 0 days | 1,488 sqft |
2023-10-01 | 0 days | 1,499 sqft |
2023-11-01 | 0 days | 1,498 sqft |
2023-12-01 | 0 days | 1,512 sqft |
2024-01-01 | 0 days | 1,487 sqft |
2024-02-01 | 0 days | 1,428 sqft |
2024-03-01 | 0 days | 1,426 sqft |
2024-04-01 | 0 days | 1,462 sqft |
2024-05-01 | 0 days | 1,488 sqft |
2024-06-01 | 0 days | 1,481 sqft |
2024-07-01 | 0 days | 1,489 sqft |
2024-08-01 | 0 days | 1,518 sqft |
2024-09-01 | 0 days | 1,537 sqft |
Vineland's median square footage for active listings during the 2024-09-01 period was 1,537 sqft. One year prior, the average listing was 1,488 sqft.