Vineland FHA Loans

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 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).