New Hampshire FHA Loan Rates, Closing Costs & Stats

New Hampshire

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.

New Hampshire FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in New Hampshire averaged 6.73% for the week of 2024-05-24, compared to the national average (all FHA variants) of 6.746% for the same period.

New Hampshire's average FHA mortgage closing costs are $8,745.

The average rate for the prior week (2024-05-17) was 6.93% and one month ago for the week of 2024-04-19, the average rate was 7.15%.

The average rate one year ago was 6.47%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.73%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

New Hampshire 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 New Hampshire level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 226 6.12% $13,997
UNITED WHOLESALE MORTGAGE, LLC 114 6.48% $13,908
GUILD MORTGAGE COMPANY 112 6.71% $11,946
CMG MORTGAGE, INC. 103 6.89% $12,853
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 83 6.70% $10,613
CROSSCOUNTRY MORTGAGE, LLC 82 6.80% $14,213
MOVEMENT MORTGAGE, LLC 68 6.79% $13,143
EMM LOANS LLC 67 6.32% $12,467
LOANDEPOT.COM, LLC 64 6.34% $14,538
HARBORONE MORTGAGE, LLC 55 6.57% $11,276
Mr. Cooper ( Nationstar Mortgage ) 34 6.07% $19,112
PENNYMAC LOAN SERVICES, LLC 31 6.12% $14,938
EVERETT FINANCIAL, INC. 26 7.00% $10,749
American Mortgage & Equity Consultants, Inc. 26 6.90% $14,757
FREEDOM MORTGAGE CORPORATION 26 6.98% $18,661
PRIMELENDING, A PLAINSCAPITAL COMPANY 25 6.67% $12,003
NEWREZ LLC 25 6.36% $16,317
TOTAL MORTGAGE SERVICES, LLC 24 6.59% $12,551
NORTHPOINT MORTGAGE, INC. 23 6.39% $14,581
BROKER SOLUTIONS, INC. 22 6.77% $15,888
MUTUAL OF OMAHA MORTGAGE, INC. 22 6.60% $17,526
AMERISAVE MORTGAGE CORPORATION 20 5.98% $18,110
Waterstone Mortgage Corporation 19 6.54% $12,029
NEW FED MORTGAGE, CORP. 19 6.83% $13,721
GUARANTEED RATE, INC. 17 6.44% $13,251
Carrington Mortgage Services, LLC 17 6.38% $17,943
RELIANCE FIRST CAPITAL, LLC 17 6.48% $15,631
LAKEVIEW LOAN SERVICING, LLC 16 6.05% $15,785
ENVOY MORTGAGE, LTD 16 6.80% $13,531
Keystone Funding, Inc. 16 6.46% $13,320
HOMEBRIDGE FINANCIAL SERVICES, INC. 15 6.67% $13,498
GUARANTEED RATE AFFINITY, LLC 13 6.86% $17,229
EMBRACE HOME LOANS, INC. 13 6.50% $11,191
POLARIS HOME FUNDING CORP. 13 6.84% $15,976
MORTGAGE EQUITY PARTNERS LLC 13 6.73% $16,712
Sierra Pacific Mortgage Company, Inc. 12 6.37% $19,987
CARDINAL FINANCIAL 11 6.58% $19,220
LEADERONE FINANCIAL CORPORATION 10 6.70% $12,189
ARK-LA-TEX FINANCIAL SERVICES, LLC. 9 6.88% $11,572
The Federal Savings Bank 9 6.47% $23,947
Citizens Bank 8 6.80% $9,363
RADIUS FINANCIAL GROUP INC. 8 6.13% $9,861
AMERICAN FINANCING CORPORATION 7 6.87% $11,277
Equity Prime Mortgage LLC 7 7.04% $19,370
Home Loan Investment Bank, F.S.B. 7 6.79% $11,713
FIRST MORTGAGE COMPANY, INC. 7 6.50% $14,342
Flagstar Bank, FSB 6 6.89% $11,381
PLANET HOME LENDING, LLC 6 5.92% $17,759
BAY EQUITY LLC 5 6.55% $11,121
U.S. Bank 5 6.70% $13,105
NORWICH COMMERCIAL GROUP, INC. 5 6.03% $11,195
Mortgage Research Center, LLC 5 7.28% $6,757
Paramount Residential Mortgage Group, Inc. 5 6.43% $10,816
NATIONS RELIABLE LENDING, LLC 5 6.50% $12,073
SALEM FIVE MORTGAGE COMPANY, LLC 5 6.83% $11,183
NATIONS DIRECT MORTGAGE, LLC 5 7.48% $19,033
Nations Lending Corporation 5 6.23% $14,714
Evolve Bank & Trust 5 6.43% $15,041
Union Bank 4 6.09% $7,321
OCMBC, INC. 4 7.06% $15,783
NFM, INC. 3 7.08% $11,313
VILLAGE CAPITAL MORTGAGE 3 7.54% $11,012
First Savings Bank 3 5.46% $17,473
Bangor Savings Bank 3 6.00% $10,951
Cornerstone First Mortgage, Inc 3 6.37% $15,568
LIBERTY HOME MORTGAGE CORPORATION 3 7.17% $16,704
SUCCESS MORTGAGE PARTNERS, INC. 2 6.19% $12,277
AMERICAN FINANCIAL NETWORK, INC. 2 7.38% $22,578
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 7.13% $19,595
Barrington Bank & Trust Company, N.A. 2 5.63% $8,503
Century Mortgage Company DBA Century Lending Company 2 6.19% $15,441
CHURCHILL MORTGAGE CORPORATION 2 6.00% $16,693
DRAPER AND KRAMER MORTGAGE CORP. 2 6.88% $11,538
INTEGRITY MORTGAGE LLC 2 7.13% $15,505
Leader Bank 2 6.19% $12,560
MID-ISLAND MORTGAGE CORP. 2 6.50% $13,486
M&T Bank 2 6.31% $14,733
PHH Mortgage Corporation 2 6.38% $12,534
PLAZA HOME MORTGAGE, INC. 2 6.88% $13,594
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.69% $14,340
Prosperity Home Mortgage, LLC 2 6.25% $13,062
RUOFF MORTGAGE COMPANY, INC. 2 5.63% $7,736
Semper Home Loans, Inc. 2 7.55% $14,382
TD Bank 2 5.88% $5,192
VAN DYK MORTGAGE CORPORATION 2 6.88% $10,618
Berkshire Bank 1 6.50% $11,472
Ixonia Bank 1 7.00% $23,901
Princeton Mortgage Corporation 1 6.25% $8,022
AmeriHome Mortgage Company, LLC 1 6.13% $13,489
HOMESTEAD FUNDING CORP. 1 6.75% $8,779
HOMESIDE FINANCIAL, LLC 1 6.25% $14,124
Goldwater Bank, N.A. 1 6.25% $21,023
Ross Mortgage Company, Inc. 1 7.75% $10,469
Wells Fargo Bank 1 6.63% $14,413
GENEVA FINANCIAL, LLC 1 7.25% $13,789
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.75% $13,543
Shamrock Home Loans, Inc. 1 7.13% $16,777
FIRST HOME MORTGAGE CORPORATION 1 6.63% $21,621
ACADEMY MORTGAGE CORPORATION 1 7.25% $13,361
SUMMIT FUNDING, INC. 1 6.75% $21,613
SUN WEST MORTGAGE COMPANY, INC. 1 6.99% $8,422
AMERICAN FINANCIAL RESOURCES, INC. 1 6.00% $14,855
DREW MORTGAGE ASSOCIATES, INC. 1 7.25% $9,899
The Washington Trust Company, of Westerly 1 6.49% $10,248
CONTOUR MORTGAGE CORPORATION 1 6.63% $22,986
MID AMERICA MORTGAGE, INC. 1 7.38% $11,579
MEMBER FIRST MORTGAGE, LLC 1 6.63% $7,869
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.63% $21,955
Bethpage Federal Credit Union 1 6.00% $3,387
Plains Commerce Bank 1 5.75% $11,893
Magnolia Bank 1 7.13% $6,574
UNION HOME MORTGAGE CORP. 1 7.25% $12,372
Lakeview Community Capital, LLC 1 6.75% $25,874

The top New Hampshire FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 226 FHA loans originated. Their average total fees are $13,997, which is $90 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee New Hampshire FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($10,613), EVERETT FINANCIAL, INC. ($10,749), EMBRACE HOME LOANS, INC. ($11,191), HARBORONE MORTGAGE, LLC ($11,276) and GUILD MORTGAGE COMPANY ($11,946).

The lowest rate New Hampshire FHA lenders (with over 10 loans originated) are AMERISAVE MORTGAGE CORPORATION (5.98%), LAKEVIEW LOAN SERVICING, LLC (6.05%), Mr. Cooper ( Nationstar Mortgage ) (6.07%), QUICKEN LOANS, LLC (6.12%) and PENNYMAC LOAN SERVICES, LLC (6.12%).

New Hampshire FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
LACONIA, NH BELKNAP 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CARROLL 2022 $420,680 $538,650 $651,050 $809,150
KEENE, NH CHESHIRE 2022 $420,680 $538,650 $651,050 $809,150
BERLIN, NH COOS 2022 $420,680 $538,650 $651,050 $809,150
LEBANON, NH-VT GRAFTON 2022 $420,680 $538,650 $651,050 $809,150
MANCHESTER-NASHUA, NH HILLSBOROUGH 2022 $430,100 $550,600 $665,550 $827,100
CONCORD, NH MERRIMACK 2022 $420,680 $538,650 $651,050 $809,150
BOSTON-CAMBRIDGE-NEWTON, MA-NH ROCKINGHAM 2022 $770,500 $986,400 $1,192,300 $1,481,750
BOSTON-CAMBRIDGE-NEWTON, MA-NH STRAFFORD 2022 $770,500 $986,400 $1,192,300 $1,481,750
LEBANON, NH-VT SULLIVAN 2022 $420,680 $538,650 $651,050 $809,150
LACONIA, NH BELKNAP 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CARROLL 2023 $472,030 $604,400 $730,525 $907,900
KEENE, NH CHESHIRE 2023 $472,030 $604,400 $730,525 $907,900
BERLIN, NH COOS 2023 $472,030 $604,400 $730,525 $907,900
LEBANON, NH-VT GRAFTON 2023 $472,030 $604,400 $730,525 $907,900
MANCHESTER-NASHUA, NH HILLSBOROUGH 2023 $477,250 $610,950 $738,500 $917,800
CONCORD, NH MERRIMACK 2023 $472,030 $604,400 $730,525 $907,900
BOSTON-CAMBRIDGE-NEWTON, MA-NH ROCKINGHAM 2023 $828,000 $1,060,000 $1,281,300 $1,592,350
BOSTON-CAMBRIDGE-NEWTON, MA-NH STRAFFORD 2023 $828,000 $1,060,000 $1,281,300 $1,592,350
LEBANON, NH-VT SULLIVAN 2023 $472,030 $604,400 $730,525 $907,900

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).