Lewiston FHA Loan Rates, Closing Costs & Stats

LEWISTON-AUBURN, ME

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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.

    Lewiston's 51 lenders originated 420 FHA loans during 2024. The total origination value was $123,220,000, with an average FHA loan value of $293,381.

    Lewiston FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lewiston averaged 6.84% for the week of 2025-07-18, compared to the national average (all FHA variants) of 6.527% for the same period.

    Lewiston's average FHA mortgage closing costs are $7,889.

    The average rate for the prior week (2025-07-11) was 6.94% and one month ago for the week of 2025-06-13, the average rate was 7%.

    The average rate one year ago was 6.86%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.55%.

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

    Lewiston 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 Lewiston level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 57 6.45% $10,376
    UNITED WHOLESALE MORTGAGE, LLC 50 6.40% $13,239
    CMG MORTGAGE, INC. 32 6.46% $11,547
    QUICKEN LOANS, LLC 25 6.35% $12,526
    Paramount Residential Mortgage Group, Inc. 16 6.48% $19,316
    DAS Acquisition Company, LLC 15 6.37% $10,963
    T2 FINANCIAL LLC 15 6.48% $11,528
    Bangor Savings Bank 13 6.15% $9,867
    FREEDOM MORTGAGE CORPORATION 13 6.42% $12,065
    TOTAL MORTGAGE SERVICES, LLC 13 6.87% $11,776
    NORTHPOINT MORTGAGE, INC. 12 6.55% $10,146
    CROSSCOUNTRY MORTGAGE, LLC 12 6.04% $13,424
    BROKER SOLUTIONS, INC. 9 6.69% $11,316
    PENNYMAC LOAN SERVICES, LLC 8 6.04% $10,411
    HARBORONE MORTGAGE, LLC 7 6.38% $9,106
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 5.58% $9,501
    The Camden National Bank 5 5.87% $7,457
    LAKEVIEW LOAN SERVICING, LLC 5 6.05% $8,077
    NEWREZ LLC 4 6.44% $11,011
    Mr. Cooper ( Nationstar Mortgage ) 4 6.47% $12,855
    HOMESIDE FINANCIAL, LLC 3 6.25% $14,086
    EMBRACE HOME LOANS, INC. 3 6.25% $11,065
    LOANDEPOT.COM, LLC 3 6.54% $12,509
    Mortgage Research Center, LLC 3 7.29% $5,970
    GENEVA FINANCIAL, LLC 3 7.63% $11,416
    MOVEMENT MORTGAGE, LLC 2 5.85% $11,143
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.88% $12,126
    CUSO MORTGAGE CORPORATION 2 6.23% $6,972
    GUARANTEED RATE, INC. 2 6.37% $7,860
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.75% $9,126
    Lakeview Community Capital, LLC 2 6.50% $7,683
    LEADERONE FINANCIAL CORPORATION 2 7.19% $11,968
    MEGASTAR FINANCIAL CORP. 2 5.45% $12,880
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.25% $12,980
    AMERICAN FINANCIAL NETWORK, INC. 1 7.88% $10,319
    KeyBank 1 6.38% $11,182
    NORWICH COMMERCIAL GROUP, INC. 1 6.25% $9,081
    OCEANSIDE MORTGAGE COMPANY 1 5.75% $8,117
    EMM LOANS LLC 1 7.13% $8,536
    Century Mortgage Company DBA Century Lending Company 1 7.25% $8,322
    PLANET HOME LENDING, LLC 1 6.75% $7,442
    PLAZA HOME MORTGAGE, INC. 1 7.75% $13,754
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.63% $13,638
    Carrington Mortgage Services, LLC 1 6.88% $4,526
    CARDINAL FINANCIAL 1 5.88% $8,530
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.50% $9,106
    TOP FLITE FINANCIAL, INC. 1 6.25% $16,403
    AMERISAVE MORTGAGE CORPORATION 1 6.75% $10,107
    UNITED MORTGAGE CORP 1 5.88% $22,115
    AMERICAN FINANCING CORPORATION 1 5.38% $14,291
    Waterstone Mortgage Corporation 1 5.63% $12,153

    The top Lewiston FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 57 FHA loans originated. Their average total fees are $10,376, which is $2,863 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Lewiston FHA lenders (with over 10 loans originated) are Bangor Savings Bank ($9,867), NORTHPOINT MORTGAGE, INC. ($10,146), GUILD MORTGAGE COMPANY ($10,376), DAS Acquisition Company, LLC ($10,963) and T2 FINANCIAL LLC ($11,528).

    The lowest rate Lewiston FHA lenders (with over 10 loans originated) are CROSSCOUNTRY MORTGAGE, LLC (6.04%), Bangor Savings Bank (6.15%), QUICKEN LOANS, LLC (6.35%), DAS Acquisition Company, LLC (6.37%) and UNITED WHOLESALE MORTGAGE, LLC (6.40%).

    Lewiston FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LEWISTON-AUBURN, ME ANDROSCOGGIN 2022 $420,680 $538,650 $651,050 $809,150
    LEWISTON-AUBURN, ME ANDROSCOGGIN 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).