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 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 6.59% for the week of 2024-06-07, compared to the national average (all FHA variants) of 6.692% for the same period.

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

The average rate for the prior week (2024-05-31) was 6.87% and one month ago for the week of 2024-05-03, the average rate was 6.87%.

The average rate one year ago was 6.54%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.69%.

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
Vineland's median listing price for 2024-05-01 was $282,500, a difference of $27,525 (10.8%) versus the prior year and $12,600 versus the prior month.

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

Vineland's average listing price for 2024-05-01 was $301,412, a difference of $-141,787 (-32.0%) versus the prior year and $-1,598 versus the prior month.

For the 2024-05-01 period, Vineland had 231 MLS listings, a difference of -4 listings (-2%) versus the prior month and 44 listings (24%) 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
Vineland's median listing age (time on market) for 2024-05-01 was 0 days.

Vineland's median square footage for active listings during the 2024-05-01 period was 1,488 sqft. One year prior, the average listing was 1,497 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).