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 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).