Vineland FHA Loan Rates, Closing Costs & Stats

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 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 6.62% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Vineland's average FHA mortgage closing costs are $7,498.

    The average rate for the prior week (2024-11-01) was 6.59% and one month ago for the week of 2024-10-04, the average rate was 6.01%.

    The average rate one year ago was 7.36%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.43%.

    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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Vineland level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    NATION ONE MORTGAGE CORPORATION 199 6.47% $12,862
    QUICKEN LOANS, LLC 40 6.31% $9,895
    GREENTREE MORTGAGE COMPANY, L.P. 36 6.61% $10,405
    Gateway First Bank 34 6.47% $8,718
    CARDINAL FINANCIAL 25 6.81% $11,091
    CROSSCOUNTRY MORTGAGE, LLC 18 6.94% $11,435
    Prosperity Home Mortgage, LLC 14 6.17% $9,519
    UNITED WHOLESALE MORTGAGE, LLC 14 6.38% $11,715
    FREEDOM MORTGAGE CORPORATION 10 7.03% $11,795
    LOANDEPOT.COM, LLC 10 6.50% $8,790
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 10 6.91% $12,891
    Advisors Mortgage Group, L.L.C. 9 6.07% $9,134
    Mr. Cooper ( Nationstar Mortgage ) 8 6.02% $14,091
    NFM, INC. 8 6.55% $10,142
    AMERICAN FINANCIAL NETWORK, INC. 8 6.75% $10,374
    ABSOLUTE HOME MORTGAGE CORPORATION 8 6.75% $13,044
    ALLIED MORTGAGE GROUP, INC. 7 6.77% $11,295
    MOVEMENT MORTGAGE, LLC 7 6.30% $10,024
    NEWREZ LLC 6 6.35% $9,803
    US MORTGAGE CORPORATION 6 6.79% $12,547
    GUARANTEED RATE, INC. 6 6.48% $10,382
    PENNYMAC LOAN SERVICES, LLC 6 5.81% $11,388
    NJ LENDERS CORP. 6 6.40% $9,103
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 6.93% $13,742
    Paramount Residential Mortgage Group, Inc. 5 6.75% $15,142
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.63% $12,853
    Carrington Mortgage Services, LLC 4 6.38% $11,830
    BROKER SOLUTIONS, INC. 4 6.72% $10,301
    Acre Mortgage and Financial Inc 4 7.19% $17,715
    AMERISAVE MORTGAGE CORPORATION 4 5.84% $12,370
    MLD MORTGAGE INC. 3 5.92% $7,332
    LAKEVIEW LOAN SERVICING, LLC 3 5.83% $10,303
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.58% $10,584
    Meridian Bank Corporation 3 6.04% $7,331
    CMG MORTGAGE, INC. 3 6.83% $10,792
    Citizens Bank 3 6.17% $10,200
    MLB RESIDENTIAL LENDING, LLC 3 7.13% $14,808
    MORTGAGE ACCESS CORP. 3 7.33% $14,549
    BECKAM FUNDING CORP. 2 7.00% $16,514
    AmRes Corporation 2 6.25% $8,540
    DRAPER AND KRAMER MORTGAGE CORP. 2 7.06% $7,478
    Lakeview Community Capital, LLC 2 5.75% $10,838
    Northpointe Bank 2 6.31% $9,461
    PLANET HOME LENDING, LLC 2 6.19% $6,414
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.56% $17,498
    HOMESIDE FINANCIAL, LLC 1 7.25% $16,009
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.63% $12,862
    GUILD MORTGAGE COMPANY 1 6.13% $10,305
    Fulton Bank 1 6.75% $9,409
    Nations Lending Corporation 1 6.75% $5,910
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.25% $19,989
    NETWORK CAPITAL FUNDING CORPORATION 1 6.00% $17,125
    Flagstar Bank, FSB 1 6.13% $11,367
    Equity Prime Mortgage LLC 1 6.75% $8,572
    EMM LOANS LLC 1 5.75% $9,418
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $8,205
    NVR Mortgage Finance, Inc. 1 5.63% $20,342
    OCMBC, INC. 1 7.75% $12,045
    EMBRACE HOME LOANS, INC. 1 6.75% $18,428
    East Coast Capital Corp. 1 7.50% $13,595
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.50% $11,237
    PLAZA HOME MORTGAGE, INC. 1 6.25% $11,867
    PNC Bank 1 7.13% $5,667
    DEVELOPER'S MORTGAGE COMPANY 1 6.75% $11,144
    DATA MORTGAGE, INC. 1 6.13% $10,616
    CLIFFCO, INC. 1 6.88% $15,583
    RELIANCE FIRST CAPITAL, LLC 1 6.88% $18,795
    RESIDENTIAL BANCORP 1 5.63% $17,422
    RESIDENTIAL HOME FUNDING CORP. 1 6.38% $5,809
    Residential Mortgage Solutions, Inc. 1 7.25% $7,930
    VILLAGE CAPITAL MORTGAGE 1 6.75% $1,871
    SUN WEST MORTGAGE COMPANY, INC. 1 7.13% $10,408
    The Federal Savings Bank 1 5.75% $13,188
    Truist 1 6.50% $7,929
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.25% $13,827
    LOANPAL, LLC 1 6.99% $13,250
    LADERA LENDING, INC. 1 7.00% $14,041

    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. Louis
    Date 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
    2024-10-01 $299,850 (20.0%) $337,164 (-19.3%) 0.00 311
    Vineland's median listing price for 2024-10-01 was $299,850, a difference of $49,925 (20.0%) versus the prior year and $8,850 versus the prior month.

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

    Vineland's average listing price for 2024-10-01 was $337,164, a difference of $-80,770 (-19.3%) versus the prior year and $13,236 versus the prior month.

    For the 2024-10-01 period, Vineland had 311 MLS listings, a difference of 22 listings (8%) versus the prior month and 77 listings (33%) 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 1,433 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
    2024-10-01 0 days 1,554 sqft
    Vineland's median listing age (time on market) for 2024-10-01 was 0 days.

    Vineland's median square footage for active listings during the 2024-10-01 period was 1,554 sqft. One year prior, the average listing was 1,499 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).