Massachusetts FHA Loan Rates, Closing Costs & Stats
Massachusetts
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.
Massachusetts FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Massachusetts
averaged
6.4%
for the week of 2025-04-11, compared to the national average (all FHA variants) of
6.429% for the same period.
Massachusetts's average FHA mortgage closing costs are $11,562.
The average rate for the prior week (2025-04-04) was
6.42% and
one month ago for the week of 2025-03-07, the
average rate was 6.38%.
The average rate one year ago was 6.73%.
For refis of the same type during the week of 2025-04-11, the average rate
was 6.27%.
Massachusetts 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 Massachusetts level.
The top Massachusetts FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
995 FHA loans originated. Their average total fees are
$17,719, which is $1,482
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Massachusetts FHA lenders (with over 10 loans originated) are
HOMESTEAD FUNDING CORP. ($9,845), VILLAGE CAPITAL MORTGAGE ($10,478), LAKEVIEW LOAN SERVICING, LLC ($10,794), BAYCOAST MORTGAGE COMPANY, LLC ($11,168) and Easthampton Savings Bank ($11,795).
The lowest rate Massachusetts FHA lenders (with over 10 loans originated) are
The Cape Cod Five Cents Savings Bank (5.41%), LOANPAL, LLC (5.77%), Berkshire Bank (5.82%), The Washington Trust Company, of Westerly (5.95%) and MSA MORTGAGE, LLC (5.98%).
Massachusetts FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| BARNSTABLE TOWN, MA | BARNSTABLE | 2022 | $621,000 | $795,000 | $960,950 | $1,194,250 |
| PITTSFIELD, MA | BERKSHIRE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| PROVIDENCE-WARWICK, RI-MA | BRISTOL | 2022 | $592,250 | $758,200 | $916,450 | $1,138,950 |
| VINEYARD HAVEN, MA | DUKES | 2022 | $970,800 | $1,243,050 | $1,502,475 | $1,867,275 |
| BOSTON-CAMBRIDGE-NEWTON, MA-NH | ESSEX | 2022 | $770,500 | $986,400 | $1,192,300 | $1,481,750 |
| SPRINGFIELD, MA | FRANKLIN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| SPRINGFIELD, MA | HAMPDEN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| SPRINGFIELD, MA | HAMPSHIRE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| BOSTON-CAMBRIDGE-NEWTON, MA-NH | MIDDLESEX | 2022 | $770,500 | $986,400 | $1,192,300 | $1,481,750 |
| NON-METRO | NANTUCKET | 2022 | $970,800 | $1,243,050 | $1,502,475 | $1,867,275 |
| BOSTON-CAMBRIDGE-NEWTON, MA-NH | NORFOLK | 2022 | $770,500 | $986,400 | $1,192,300 | $1,481,750 |
| BOSTON-CAMBRIDGE-NEWTON, MA-NH | PLYMOUTH | 2022 | $770,500 | $986,400 | $1,192,300 | $1,481,750 |
| BOSTON-CAMBRIDGE-NEWTON, MA-NH | SUFFOLK | 2022 | $770,500 | $986,400 | $1,192,300 | $1,481,750 |
| WORCESTER, MA-CT | WORCESTER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| BARNSTABLE TOWN, MA | BARNSTABLE | 2023 | $701,500 | $898,050 | $1,085,550 | $1,349,050 |
| PITTSFIELD, MA | BERKSHIRE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| PROVIDENCE-WARWICK, RI-MA | BRISTOL | 2023 | $661,250 | $846,500 | $1,023,250 | $1,271,650 |
| VINEYARD HAVEN, MA | DUKES | 2023 | $1,089,300 | $1,394,775 | $1,685,850 | $2,095,200 |
| BOSTON-CAMBRIDGE-NEWTON, MA-NH | ESSEX | 2023 | $828,000 | $1,060,000 | $1,281,300 | $1,592,350 |
| SPRINGFIELD, MA | FRANKLIN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| SPRINGFIELD, MA | HAMPDEN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| SPRINGFIELD, MA | HAMPSHIRE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| BOSTON-CAMBRIDGE-NEWTON, MA-NH | MIDDLESEX | 2023 | $828,000 | $1,060,000 | $1,281,300 | $1,592,350 |
| NON-METRO | NANTUCKET | 2023 | $1,089,300 | $1,394,775 | $1,685,850 | $2,095,200 |
| BOSTON-CAMBRIDGE-NEWTON, MA-NH | NORFOLK | 2023 | $828,000 | $1,060,000 | $1,281,300 | $1,592,350 |
| BOSTON-CAMBRIDGE-NEWTON, MA-NH | PLYMOUTH | 2023 | $828,000 | $1,060,000 | $1,281,300 | $1,592,350 |
| BOSTON-CAMBRIDGE-NEWTON, MA-NH | SUFFOLK | 2023 | $828,000 | $1,060,000 | $1,281,300 | $1,592,350 |
| WORCESTER, MA-CT | WORCESTER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |