Vineland FHA Loans

VINELAND-BRIDGETON, NJ

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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.

    Vineland's 99 lenders originated 1,259 FHA loans during 2021. The total origination value was $233,635,000, with an average FHA loan value of $185,572.

    Vineland FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Vineland averaged 5.34% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

    The average rate for the prior week (2022-05-06) was 5.37% and one month ago for the week of 2022-04-08, the average rate was 5.04%.

    The average rate one year ago was 3.25%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.3%.

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

    Vineland FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Vineland level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    FINANCE OF AMERICA MORTGAGE LLC 235 2.97% $8,566
    Gateway First Bank 110 3.11% $5,440
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 82 3.39% $7,456
    QUICKEN LOANS, LLC 77 2.75% $5,973
    GREENTREE MORTGAGE COMPANY, L.P. 46 2.90% $7,185
    FREEDOM MORTGAGE CORPORATION 38 2.96% $4,471
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 37 3.33% $8,560
    Prosperity Home Mortgage, LLC 30 2.94% $6,244
    NATION ONE MORTGAGE CORPORATION 29 3.85% $9,655
    LAKEVIEW LOAN SERVICING, LLC 28 3.09% $4,508
    PENNYMAC LOAN SERVICES, LLC 24 3.04% $4,447
    Mr. Cooper ( Nationstar Mortgage ) 23 3.37% $3,074
    CALIBER HOME LOANS, INC. 22 2.87% $5,687
    CROSSCOUNTRY MORTGAGE, LLC 19 3.28% $8,275
    DHI MORTGAGE COMPANY, LTD. 16 2.66% $7,753
    Advisors Mortgage Group, L.L.C. 13 3.03% $8,518
    ALLIED MORTGAGE GROUP, INC. 12 3.26% $6,645
    NEWREZ LLC 10 2.86% $5,774
    HOME POINT FINANCIAL CORPORATION 10 2.48% $6,988
    Carrington Mortgage Services, LLC 10 3.31% $7,435
    AmeriHome Mortgage Company, LLC 9 2.83% $4,253
    AMERICAN FINANCIAL NETWORK, INC. 8 3.16% $13,651
    ABSOLUTE HOME MORTGAGE CORPORATION 8 3.23% $7,528
    First Guaranty Mortgage Corporation 8 3.38% $4,963
    AMERISAVE MORTGAGE CORPORATION 7 2.88% $7,933
    UNITED WHOLESALE MORTGAGE, LLC 7 2.89% $6,756
    PRIMARY RESIDENTIAL MORTGAGE, INC. 7 3.41% $8,787
    Philadelphia Mortgage Advisors, Inc. 6 2.85% $6,288
    UNITED MORTGAGE CORP. 6 3.44% $6,817
    LOANDEPOT.COM, LLC 6 3.14% $7,241
    Paramount Residential Mortgage Group, Inc. 6 3.60% $8,145
    NATIONS DIRECT MORTGAGE, LLC 5 3.50% $9,032
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 3.10% $9,432
    Lakeview Community Capital, LLC 5 3.12% $3,695
    NFM, INC. 5 3.33% $6,733
    US MORTGAGE CORPORATION 5 3.33% $8,591
    VILLAGE CAPITAL & INVESTMENT LLC 5 2.93% $1,734
    Fulton Bank 5 2.85% $5,650
    Nations Lending Corporation 4 3.22% $9,405
    RESIDENTIAL HOME FUNDING CORP. 4 2.88% $8,031
    TOWNE MORTGAGE COMPANY 3 3.46% $11,235
    Summit Mortgage Corporation 3 2.92% $8,214
    Equity Prime Mortgage LLC 3 3.29% $8,278
    SUCCESS MORTGAGE PARTNERS, INC. 3 3.46% $6,595
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 3 3.13% $9,186
    FAMILY FIRST FUNDING LLC 3 3.46% $10,152
    Bank of America 3 2.79% $4,415
    Home Mortgage Alliance Corp 3 3.33% $8,755
    Huntingdon Valley Bank 3 2.79% $7,426
    UNION HOME MORTGAGE CORP. 3 3.50% $8,483
    MUTUAL OF OMAHA MORTGAGE, INC. 2 2.56% $6,576
    ACADEMY MORTGAGE CORPORATION 2 2.75% $9,345
    Acre Mortgage and Financial Inc 2 3.13% $7,266
    BROKER SOLUTIONS, INC. 2 3.44% $7,831
    CMG MORTGAGE, INC. 2 3.38% $8,254
    CONTOUR MORTGAGE CORPORATION 2 3.00% $8,188
    DRAPER AND KRAMER MORTGAGE CORP. 2 2.81% $5,659
    EMM LOANS LLC 2 3.50% $7,461
    HOMESIDE FINANCIAL, LLC 2 3.19% $6,876
    InterContinental Capital Group, Inc 2 3.06% $5,568
    MLB RESIDENTIAL LENDING, LLC 2 3.38% $10,067
    1st Colonial Community Bank 2 2.88% $6,377
    Northpointe Bank 2 2.81% $6,761
    SUN WEST MORTGAGE COMPANY, INC. 2 4.00% $7,569
    MORTGAGE ACCESS CORP. 1 2.75% $8,087
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.50% $14,038
    NETWORK CAPITAL FUNDING CORPORATION 1 3.50% $4,036
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 2.38% $11,350
    Manufacturers and Traders Trust Company 1 3.00% $9,840
    NJ LENDERS CORP. 1 2.25% $5,266
    Wilmington Savings Fund Society, FSB 1 3.13% $6,150
    OCEANSIDE MORTGAGE COMPANY 1 2.75% $2,434
    OCMBC, INC. 1 2.75% $8,933
    LIBERTY HOME MORTGAGE CORPORATION 1 3.25% $8,456
    JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 1 3.25% $11,720
    GUARANTEED RATE, INC. 1 2.38% $8,287
    PLAZA HOME MORTGAGE, INC. 1 3.50% $10,774
    PNC Bank 1 3.00% $4,960
    GREENWAY MORTGAGE FUNDING CORP. 1 3.00% $7,067
    Princeton Mortgage Corporation 1 3.25% $6,294
    FIRST HOME MORTGAGE CORPORATION 1 2.75% $4,408
    Quaint Oak Mortgage, LLC 1 2.88% $8,167
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 2.88% $7,346
    Financial Freedom Mortgage, LLC 1 2.50% $10,328
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 2.99% $9,794
    Evesham Mortgage, LLC 1 2.75% $7,673
    ENVOY MORTGAGE, LTD 1 2.75% $6,897
    Wyndham Capital Mortgage, Inc. 1 2.88% $7,027
    Customers Bank 1 2.50% $9,024
    Barrington Bank & Trust Company, N.A. 1 3.75% $7,951
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.38% $4,313
    AmRes Corporation 1 3.25% $8,878
    U.S. Bank 1 2.63% $7,299
    AMERICAN HERITAGE FCU 1 2.99% $5,814
    Valley National Bank 1 2.63% $5,032
    AMERICAN FINANCIAL RESOURCES, INC. 1 4.25% $10,003
    Wells Fargo Bank 1 3.38% $3,943
    MOVEMENT MORTGAGE, LLC 1 3.13% $3,300
    Mortgage Research Center, LLC 1 2.99% $7,776

    The top Vineland FHA lender as defined by loan originations is FINANCE OF AMERICA MORTGAGE LLC, with 235 FHA loans originated. Their average total fees are $8,566, which is $3,126 higher than the next largest lender, Gateway First Bank.

    The lowest fee Vineland FHA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($3,074), PENNYMAC LOAN SERVICES, LLC ($4,447), FREEDOM MORTGAGE CORPORATION ($4,471), LAKEVIEW LOAN SERVICING, LLC ($4,508) and Gateway First Bank ($5,440).

    The lowest rate Vineland FHA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (2.48%), DHI MORTGAGE COMPANY, LTD. (2.66%), QUICKEN LOANS, LLC (2.75%), NEWREZ LLC (2.86%) and CALIBER HOME LOANS, INC. (2.87%).

    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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Vineland (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 $129,950 (-1.9%) $145,222 (-2.8%) 0.00 896
    2018-02-01 $131,650 (-1.7%) $145,700 (-3.9%) 0.00 900
    2018-03-01 $135,000 (-2.1%) $148,396 (-2.5%) 0.00 913
    2018-04-01 $137,000 (-2.1%) $150,445 (-3.7%) 0.00 946
    2018-05-01 $146,000 (4.4%) $160,617 (2.4%) 0.00 913
    2018-06-01 $145,000 (3.7%) $158,251 (-0.3%) 0.00 948
    2018-07-01 $149,000 (6.5%) $159,412 (-0.9%) 0.00 976
    2018-08-01 $149,900 (5.9%) $326,842 (104.5%) 0.00 1,030
    2018-09-01 $149,900 (7.2%) $325,401 (107.8%) 0.00 1,038
    2018-10-01 $149,900 (11.1%) $160,383 (5.2%) 0.00 1,031
    2018-11-01 $145,400 (11.9%) $153,925 (4.1%) 0.00 1,000
    2018-12-01 $140,000 (5.3%) $152,622 (2.7%) 0.00 953
    2019-01-01 $140,950 (8.5%) $150,820 (3.9%) 0.00 885
    2019-02-01 $139,900 (6.3%) $153,479 (5.3%) 0.00 910
    2019-03-01 $139,900 (3.6%) $155,093 (4.5%) 0.00 895
    2019-04-01 $139,950 (2.2%) $155,862 (3.6%) 0.00 869
    2019-05-01 $143,450 (-1.8%) $159,466 (-0.7%) 0.00 880
    2019-06-01 $145,000 (0.0%) $162,540 (2.7%) 0.00 914
    2019-07-01 $149,700 (0.5%) $163,519 (2.6%) 0.00 929
    2019-08-01 $149,671 (-0.2%) $193,693 (-40.7%) 0.00 911
    2019-09-01 $149,900 (0.0%) $166,124 (-49.0%) 0.00 865
    2019-10-01 $148,250 (-1.1%) $164,496 (2.6%) 0.00 798
    2019-11-01 $148,000 (1.8%) $162,065 (5.3%) 0.00 778
    2019-12-01 $144,000 (2.9%) $162,843 (6.7%) 0.00 746
    2020-01-01 $145,450 (3.2%) $163,867 (8.7%) 0.00 690
    2020-02-01 $150,000 (7.2%) $169,300 (10.3%) 0.00 664
    2020-03-01 $155,400 (11.1%) $175,267 (13.0%) 0.00 660
    2020-04-01 $152,500 (9.0%) $178,017 (14.2%) 0.00 595
    2020-05-01 $162,900 (13.6%) $207,711 (30.3%) 0.00 536
    2020-06-01 $158,900 (9.6%) $209,680 (29.0%) 0.00 462
    2020-07-01 $158,800 (6.1%) $212,614 (30.0%) 0.00 396
    2020-08-01 $159,900 (6.8%) $225,946 (16.7%) 0.00 360
    2020-09-01 $160,000 (6.7%) $239,621 (44.2%) 0.00 351
    2020-10-01 $165,000 (11.3%) $250,695 (52.4%) 0.00 341
    2020-11-01 $168,700 (14.0%) $255,025 (57.4%) 0.00 360
    2020-12-01 $168,750 (17.2%) $265,808 (63.2%) 0.00 323
    2021-01-01 $160,000 (10.0%) $259,800 (58.5%) 0.00 302
    2021-02-01 $160,000 (6.7%) $219,705 (29.8%) 0.00 267
    2021-03-01 $162,500 (4.6%) $224,795 (28.3%) 0.00 249
    2021-04-01 $168,950 (10.8%) $234,621 (31.8%) 0.00 234
    2021-05-01 $179,900 (10.4%) $236,291 (13.8%) 0.00 209
    2021-06-01 $195,500 (23.0%) $236,992 (13.0%) 0.00 244
    2021-07-01 $197,000 (24.1%) $243,536 (14.5%) 0.00 277
    2021-08-01 $194,500 (21.6%) $246,621 (9.2%) 0.00 340
    2021-09-01 $194,900 (21.8%) $251,703 (5.0%) 0.00 335
    2021-10-01 $199,900 (21.2%) $336,136 (34.1%) 0.00 327
    2021-11-01 $200,000 (18.6%) $338,866 (32.9%) 0.00 313
    2021-12-01 $199,950 (18.5%) $351,060 (32.1%) 0.00 293
    2022-01-01 $199,900 (24.9%) $377,603 (45.3%) 0.00 238
    2022-02-01 $199,500 (24.7%) $389,843 (77.4%) 0.00 236
    2022-03-01 $200,000 (23.1%) $396,815 (76.5%) 0.00 229
    2022-04-01 $206,000 (21.9%) $372,133 (58.6%) 0.00 241
    Vineland's median listing price for 2022-04-01 was $206,000, a difference of $37,050 (21.9%) versus the prior year and $6,000 versus the prior month.

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

    Vineland's average listing price for 2022-04-01 was $372,133, a difference of $137,512 (58.6%) versus the prior year and $-24,682 versus the prior month.

    For the 2022-04-01 period, Vineland had 241 MLS listings, a difference of 12 listings (5%) versus the prior month and 7 listings (3%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Vineland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,443 sqft
    2018-02-01 0 days 1,441 sqft
    2018-03-01 0 days 1,456 sqft
    2018-04-01 0 days 1,457 sqft
    2018-05-01 0 days 1,501 sqft
    2018-06-01 0 days 1,466 sqft
    2018-07-01 0 days 1,476 sqft
    2018-08-01 0 days 1,498 sqft
    2018-09-01 0 days 1,512 sqft
    2018-10-01 0 days 1,486 sqft
    2018-11-01 0 days 1,482 sqft
    2018-12-01 0 days 1,433 sqft
    2019-01-01 0 days 1,428 sqft
    2019-02-01 0 days 1,452 sqft
    2019-03-01 0 days 1,451 sqft
    2019-04-01 0 days 1,450 sqft
    2019-05-01 0 days 1,461 sqft
    2019-06-01 0 days 1,506 sqft
    2019-07-01 0 days 1,515 sqft
    2019-08-01 0 days 1,521 sqft
    2019-09-01 0 days 1,526 sqft
    2019-10-01 0 days 1,494 sqft
    2019-11-01 0 days 1,465 sqft
    2019-12-01 0 days 1,464 sqft
    2020-01-01 0 days 1,460 sqft
    2020-02-01 0 days 1,450 sqft
    2020-03-01 0 days 1,455 sqft
    2020-04-01 0 days 1,494 sqft
    2020-05-01 0 days 1,512 sqft
    2020-06-01 0 days 1,523 sqft
    2020-07-01 0 days 1,500 sqft
    2020-08-01 0 days 1,506 sqft
    2020-09-01 0 days 1,514 sqft
    2020-10-01 0 days 1,466 sqft
    2020-11-01 0 days 1,540 sqft
    2020-12-01 0 days 1,503 sqft
    2021-01-01 0 days 1,420 sqft
    2021-02-01 0 days 1,404 sqft
    2021-03-01 0 days 1,430 sqft
    2021-04-01 0 days 1,457 sqft
    2021-05-01 0 days 1,495 sqft
    2021-06-01 0 days 1,498 sqft
    2021-07-01 0 days 1,476 sqft
    2021-08-01 0 days 1,484 sqft
    2021-09-01 0 days 1,472 sqft
    2021-10-01 0 days 1,495 sqft
    2021-11-01 0 days 1,506 sqft
    2021-12-01 0 days 1,478 sqft
    2022-01-01 0 days 1,427 sqft
    2022-02-01 0 days 1,424 sqft
    2022-03-01 0 days 1,442 sqft
    2022-04-01 0 days 1,502 sqft
    Vineland's median listing age (time on market) for 2022-04-01 was 0 days.

    Vineland's median square footage for active listings during the 2022-04-01 period was 1,502 sqft. One year prior, the average listing was 1,457 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).