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 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 -0.12% for the week of 2022-11-25, compared to the national average (all FHA variants) of 0% for the same period.

Vineland's average FHA mortgage closing costs are $6,343.

The average rate for the prior week (2022-11-18) was 6.71% and one month ago for the week of 2022-10-21, the average rate was 7.01%.

The average rate one year ago was 3.29%.

For refis of the same type during the week of 2022-11-25, the average rate was 0.04%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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 MORTGAGE 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 Research Center, LLC 1 2.99% $7,776
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.50% $14,038
NETWORK CAPITAL FUNDING CORPORATION 1 3.50% $4,036
MORTGAGE ACCESS CORP. 1 2.75% $8,087
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 2.38% $11,350
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
M&T Bank 1 3.00% $9,840
MOVEMENT MORTGAGE, LLC 1 3.13% $3,300

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 $129,563 (-0.3%) $146,459 (-5.9%) 0.00 725
2018-02-01 $129,563 (-0.3%) $145,549 (-7.9%) 0.00 732
2018-03-01 $133,200 (-2.7%) $146,671 (-8.2%) 0.00 732
2018-04-01 $129,475 (-6.5%) $146,458 (-9.4%) 0.00 768
2018-05-01 $139,900 (2.1%) $156,764 (-3.7%) 0.00 743
2018-06-01 $139,900 (0.3%) $155,282 (-5.3%) 0.00 782
2018-07-01 $139,975 (0.1%) $155,748 (-5.7%) 0.00 803
2018-08-01 $139,950 (0.0%) $360,300 (122.1%) 0.00 845
2018-09-01 $142,500 (5.6%) $362,721 (128.7%) 0.00 837
2018-10-01 $141,725 (7.4%) $155,194 (1.7%) 0.00 828
2018-11-01 $139,900 (7.7%) $155,127 (4.5%) 0.00 816
2018-12-01 $135,000 (3.9%) $153,858 (4.2%) 0.00 782
2019-01-01 $134,950 (4.2%) $151,564 (3.5%) 0.00 739
2019-02-01 $135,700 (4.7%) $153,786 (5.7%) 0.00 757
2019-03-01 $139,186 (4.5%) $154,465 (5.3%) 0.00 753
2019-04-01 $139,900 (8.1%) $154,618 (5.6%) 0.00 742
2019-05-01 $142,500 (1.9%) $158,630 (1.2%) 0.00 745
2019-06-01 $145,000 (3.7%) $161,071 (3.7%) 0.00 771
2019-07-01 $148,700 (6.2%) $161,998 (4.0%) 0.00 779
2019-08-01 $146,418 (4.6%) $183,837 (-49.0%) 0.00 753
2019-09-01 $147,870 (3.8%) $172,348 (-52.5%) 0.00 720
2019-10-01 $147,314 (3.9%) $163,443 (5.3%) 0.00 694
2019-11-01 $145,000 (3.7%) $160,846 (3.7%) 0.00 669
2019-12-01 $139,950 (3.7%) $159,813 (3.9%) 0.00 630
2020-01-01 $144,750 (7.3%) $161,392 (6.5%) 0.00 582
2020-02-01 $150,000 (10.5%) $164,841 (7.2%) 0.00 576
2020-03-01 $150,000 (7.8%) $167,979 (8.8%) 0.00 572
2020-04-01 $152,450 (9.0%) $171,353 (10.8%) 0.00 516
2020-05-01 $160,000 (12.3%) $205,506 (29.6%) 0.00 479
2020-06-01 $158,850 (9.6%) $212,251 (31.8%) 0.00 402
2020-07-01 $154,450 (3.9%) $216,166 (33.4%) 0.00 356
2020-08-01 $157,000 (7.2%) $224,726 (22.2%) 0.00 329
2020-09-01 $159,900 (8.1%) $240,816 (39.7%) 0.00 328
2020-10-01 $164,900 (11.9%) $252,801 (54.7%) 0.00 316
2020-11-01 $169,325 (16.8%) $257,651 (60.2%) 0.00 335
2020-12-01 $168,500 (20.4%) $267,167 (67.2%) 0.00 303
2021-01-01 $160,000 (10.5%) $262,826 (62.9%) 0.00 297
2021-02-01 $160,000 (6.7%) $220,096 (33.5%) 0.00 256
2021-03-01 $162,500 (8.3%) $228,459 (36.0%) 0.00 240
2021-04-01 $168,650 (10.6%) $231,728 (35.2%) 0.00 223
2021-05-01 $179,000 (11.9%) $233,978 (13.9%) 0.00 203
2021-06-01 $189,900 (19.6%) $232,198 (9.4%) 0.00 236
2021-07-01 $193,500 (25.3%) $239,930 (11.0%) 0.00 279
2021-08-01 $192,175 (22.4%) $244,984 (9.0%) 0.00 328
2021-09-01 $189,950 (18.8%) $245,373 (1.9%) 0.00 317
2021-10-01 $191,250 (16.0%) $332,684 (31.6%) 0.00 317
2021-11-01 $192,450 (13.7%) $331,518 (28.7%) 0.00 309
2021-12-01 $198,475 (17.8%) $350,250 (31.1%) 0.00 281
2022-01-01 $199,000 (24.4%) $381,184 (45.0%) 0.00 232
2022-02-01 $192,500 (20.3%) $386,564 (75.6%) 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 (18.9%) $355,950 (48.4%) 0.00 313
2022-08-01 $230,000 (19.7%) $353,394 (44.3%) 0.00 323
2022-09-01 $239,900 (26.3%) $360,339 (46.9%) 0.00 313
2022-10-01 $245,000 (28.1%) $366,486 (10.2%) 0.00 314
Vineland's median listing price for 2022-10-01 was $245,000, a difference of $53,750 (28.1%) versus the prior year and $5,100 versus the prior month.

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

Vineland's average listing price for 2022-10-01 was $366,486, a difference of $33,802 (10.2%) versus the prior year and $6,147 versus the prior month.

For the 2022-10-01 period, Vineland had 314 MLS listings, a difference of 1 listings (0%) versus the prior month and -3 listings (-1%) 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 1,434 sqft
2018-02-01 0 days 1,405 sqft
2018-03-01 0 days 1,404 sqft
2018-04-01 0 days 1,424 sqft
2018-05-01 0 days 1,458 sqft
2018-06-01 0 days 1,456 sqft
2018-07-01 0 days 1,458 sqft
2018-08-01 0 days 1,459 sqft
2018-09-01 0 days 1,461 sqft
2018-10-01 0 days 1,459 sqft
2018-11-01 0 days 1,453 sqft
2018-12-01 0 days 1,428 sqft
2019-01-01 0 days 1,433 sqft
2019-02-01 0 days 1,440 sqft
2019-03-01 0 days 1,445 sqft
2019-04-01 0 days 1,445 sqft
2019-05-01 0 days 1,461 sqft
2019-06-01 0 days 1,502 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 1,485 sqft
2019-11-01 0 days 1,463 sqft
2019-12-01 0 days 1,455 sqft
2020-01-01 0 days 1,449 sqft
2020-02-01 0 days 1,440 sqft
2020-03-01 0 days 1,446 sqft
2020-04-01 0 days 1,476 sqft
2020-05-01 0 days 1,508 sqft
2020-06-01 0 days 1,512 sqft
2020-07-01 0 days 1,473 sqft
2020-08-01 0 days 1,474 sqft
2020-09-01 0 days 1,485 sqft
2020-10-01 0 days 1,453 sqft
2020-11-01 0 days 1,518 sqft
2020-12-01 0 days 1,497 sqft
2021-01-01 0 days 1,432 sqft
2021-02-01 0 days 1,384 sqft
2021-03-01 0 days 1,410 sqft
2021-04-01 0 days 1,444 sqft
2021-05-01 0 days 1,440 sqft
2021-06-01 0 days 1,491 sqft
2021-07-01 0 days 1,457 sqft
2021-08-01 0 days 1,467 sqft
2021-09-01 0 days 1,464 sqft
2021-10-01 0 days 1,473 sqft
2021-11-01 0 days 1,483 sqft
2021-12-01 0 days 1,440 sqft
2022-01-01 0 days 1,400 sqft
2022-02-01 0 days 1,418 sqft
2022-03-01 0 days 1,438 sqft
2022-04-01 0 days 1,473 sqft
2022-05-01 0 days 1,501 sqft
2022-06-01 0 days 1,485 sqft
2022-07-01 0 days 1,462 sqft
2022-08-01 0 days 1,438 sqft
2022-09-01 0 days 1,455 sqft
2022-10-01 0 days 1,502 sqft
Vineland's median listing age (time on market) for 2022-10-01 was 0 days.

Vineland's median square footage for active listings during the 2022-10-01 period was 1,502 sqft. One year prior, the average listing was 1,473 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).