Allentown FHA Loan Rates, Closing Costs & Stats
ALLENTOWN-BETHLEHEM-EASTON, PA-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.
Allentown's 166 lenders originated 1,969 FHA
loans during 2023. The total origination value was $489,915,000, with an average FHA loan value of
$248,814.
Allentown FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Allentown
averaged
6.68%
for the week of 2024-07-19, compared to the national average (all FHA variants) of
6.59% for the same period.
Allentown's average FHA mortgage closing costs are $8,413.
The average rate for the prior week (2024-07-12) was
6.73% and
one month ago for the week of 2024-06-14, the
average rate was 6.69%.
The average rate one year ago was 6.98%.
For refis of the same type during the week of 2024-07-19, the average rate
was 6.66%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Allentown 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 Allentown level.
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
QUICKEN LOANS, LLC
|
217
|
6.26%
|
$11,269
|
CROSSCOUNTRY MORTGAGE, LLC
|
158
|
6.87%
|
$12,126
|
UNITED WHOLESALE MORTGAGE, LLC
|
130
|
6.40%
|
$14,024
|
MOVEMENT MORTGAGE, LLC
|
72
|
6.83%
|
$12,854
|
Prosperity Home Mortgage, LLC
|
53
|
6.59%
|
$10,523
|
PENNYMAC LOAN SERVICES, LLC
|
49
|
6.15%
|
$14,237
|
LOANDEPOT.COM, LLC
|
47
|
6.15%
|
$13,970
|
NEWREZ LLC
|
43
|
6.34%
|
$12,743
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
43
|
6.60%
|
$13,080
|
ABSOLUTE HOME MORTGAGE CORPORATION
|
37
|
6.85%
|
$15,313
|
Mortgage America, Inc.
|
35
|
6.68%
|
$8,648
|
PLANET HOME LENDING, LLC
|
35
|
6.57%
|
$13,103
|
CARDINAL FINANCIAL
|
33
|
6.43%
|
$13,882
|
CMG MORTGAGE, INC.
|
32
|
6.84%
|
$12,368
|
GUILD MORTGAGE COMPANY
|
28
|
6.73%
|
$11,338
|
T2 FINANCIAL LLC
|
28
|
6.68%
|
$11,633
|
BROKER SOLUTIONS, INC.
|
28
|
6.64%
|
$12,929
|
FREEDOM MORTGAGE CORPORATION
|
27
|
6.96%
|
$15,060
|
Mr. Cooper ( Nationstar Mortgage )
|
25
|
5.93%
|
$16,739
|
Paramount Residential Mortgage Group, Inc.
|
25
|
6.71%
|
$13,386
|
UNION HOME MORTGAGE CORP.
|
23
|
6.88%
|
$10,697
|
NVR Mortgage Finance, Inc.
|
23
|
5.75%
|
$13,656
|
AMERICAN FINANCIAL NETWORK, INC.
|
22
|
6.98%
|
$14,320
|
GUARANTEED RATE, INC.
|
20
|
6.38%
|
$14,373
|
AMERISAVE MORTGAGE CORPORATION
|
20
|
6.21%
|
$14,713
|
Carrington Mortgage Services, LLC
|
19
|
6.43%
|
$12,804
|
Firstrust Savings Bank
|
17
|
6.86%
|
$8,731
|
Plains Commerce Bank
|
15
|
6.62%
|
$9,521
|
Ixonia Bank
|
14
|
7.22%
|
$12,532
|
Univest Bank and Trust Co.
|
13
|
6.42%
|
$9,313
|
MORTGAGE ACCESS CORP.
|
12
|
6.57%
|
$14,008
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
12
|
6.49%
|
$16,327
|
GENEVA FINANCIAL, LLC
|
12
|
7.24%
|
$12,914
|
NJ LENDERS CORP.
|
12
|
6.48%
|
$13,037
|
SUCCESS MORTGAGE PARTNERS, INC.
|
11
|
6.56%
|
$13,717
|
Quaint Oak Mortgage, LLC
|
11
|
6.72%
|
$11,638
|
PNC Bank
|
11
|
6.74%
|
$8,318
|
RESIDENTIAL HOME MORTGAGE CORPORATION
|
11
|
6.82%
|
$13,500
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
10
|
6.90%
|
$12,846
|
ALLIED MORTGAGE GROUP, INC.
|
10
|
6.41%
|
$12,428
|
EMM LOANS LLC
|
9
|
6.17%
|
$13,063
|
PLAZA HOME MORTGAGE, INC.
|
9
|
6.61%
|
$15,265
|
GSF Mortgage Corporation
|
9
|
6.29%
|
$13,372
|
CHURCHILL MORTGAGE CORPORATION
|
8
|
6.64%
|
$13,987
|
Mortgage Research Center, LLC
|
8
|
7.50%
|
$5,287
|
EMBRACE HOME LOANS, INC.
|
8
|
6.41%
|
$11,161
|
Flagstar Bank, FSB
|
8
|
6.33%
|
$12,414
|
Equity Prime Mortgage LLC
|
8
|
6.34%
|
$15,679
|
Citizens Bank
|
8
|
6.17%
|
$13,187
|
PANORAMA MORTGAGE GROUP, LLC
|
8
|
6.81%
|
$12,383
|
RELIANCE FIRST CAPITAL, LLC
|
7
|
6.61%
|
$12,102
|
Keystone Funding, Inc.
|
7
|
6.23%
|
$11,712
|
EAGLE HOME MORTGAGE, LLC
|
7
|
6.34%
|
$17,511
|
PARAGON HOME LOANS INC.
|
7
|
7.18%
|
$8,865
|
AmeriHome Mortgage Company, LLC
|
7
|
6.12%
|
$11,854
|
LAKEVIEW LOAN SERVICING, LLC
|
7
|
5.68%
|
$16,031
|
NFM, INC.
|
6
|
7.13%
|
$11,893
|
SUN WEST MORTGAGE COMPANY, INC.
|
6
|
6.23%
|
$11,634
|
Northpointe Bank
|
6
|
6.35%
|
$15,509
|
M&T Bank
|
6
|
6.42%
|
$12,216
|
MLB RESIDENTIAL LENDING, LLC
|
5
|
6.78%
|
$19,228
|
NATIONWIDE MORTGAGE BANKERS, INC.
|
5
|
6.77%
|
$14,095
|
Nations Lending Corporation
|
5
|
6.95%
|
$11,908
|
GUARANTEED RATE AFFINITY, LLC
|
5
|
6.83%
|
$11,692
|
Advisors Mortgage Group, L.L.C.
|
5
|
6.70%
|
$8,184
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
5
|
6.33%
|
$8,157
|
CALIBER HOME LOANS, INC.
|
5
|
6.55%
|
$10,190
|
ENVOY MORTGAGE, LTD
|
5
|
6.50%
|
$12,553
|
US MORTGAGE CORPORATION
|
4
|
6.16%
|
$20,932
|
Cornerstone First Mortgage, Inc
|
4
|
7.25%
|
$10,324
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
4
|
6.94%
|
$12,671
|
DHI MORTGAGE COMPANY, LTD.
|
4
|
5.50%
|
$14,173
|
EVERETT FINANCIAL, INC.
|
4
|
7.13%
|
$13,594
|
FIRST HERITAGE FINANCIAL, LLC
|
4
|
6.75%
|
$10,423
|
Century Mortgage Company DBA Century Lending Company
|
4
|
6.16%
|
$10,959
|
VILLAGE CAPITAL MORTGAGE
|
4
|
6.10%
|
$15,942
|
Fulton Bank
|
4
|
6.22%
|
$10,535
|
BOND STREET MORTGAGE, LLC
|
4
|
6.40%
|
$18,036
|
Wells Fargo Bank
|
4
|
6.47%
|
$7,712
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
4
|
6.68%
|
$14,304
|
JMAC LENDING, INC.
|
4
|
6.41%
|
$10,965
|
JPMorgan Chase Bank
|
4
|
7.22%
|
$6,128
|
TOP FLITE FINANCIAL, INC.
|
4
|
7.03%
|
$11,693
|
MILEND, INC.
|
3
|
5.83%
|
$15,599
|
The Federal Savings Bank
|
3
|
6.33%
|
$18,911
|
AMERICAN FINANCIAL RESOURCES, INC.
|
3
|
6.71%
|
$7,361
|
HOMESIDE FINANCIAL, LLC
|
3
|
6.08%
|
$16,149
|
Princeton Mortgage Corporation
|
3
|
7.29%
|
$11,737
|
LOANPAL, LLC
|
3
|
5.63%
|
$11,743
|
FIRST ALLIANCE HOME MORTGAGE, LLC
|
3
|
6.92%
|
$17,153
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
3
|
6.25%
|
$10,883
|
OCMBC, INC.
|
3
|
7.54%
|
$10,909
|
ZILLOW HOME LOANS, LLC
|
2
|
5.88%
|
$12,984
|
Acre Mortgage and Financial Inc
|
2
|
6.94%
|
$10,129
|
Bank of America
|
2
|
5.13%
|
$10,578
|
BOKF
|
2
|
7.13%
|
$10,888
|
DEVELOPER'S MORTGAGE COMPANY
|
2
|
6.31%
|
$7,900
|
Florida Capital Bank
|
2
|
7.63%
|
$12,837
|
Franklin Loan Corporation
|
2
|
6.00%
|
$20,007
|
Gateway First Bank
|
2
|
7.25%
|
$10,826
|
HOWARD HANNA FINANCIAL SERVICES, INC.
|
2
|
6.56%
|
$7,716
|
JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC.
|
2
|
7.44%
|
$15,812
|
KeyBank
|
2
|
6.38%
|
$7,242
|
Lakeview Community Capital, LLC
|
2
|
6.00%
|
$11,216
|
MEMBERS 1ST FEDERAL CREDIT UNION
|
2
|
5.81%
|
$8,288
|
MICHIGAN MUTUAL, INC.
|
2
|
5.13%
|
$14,105
|
MILLENIUM HOME MORTGAGE, LLC
|
2
|
6.56%
|
$9,136
|
MLD MORTGAGE INC.
|
2
|
6.38%
|
$9,902
|
NATION ONE MORTGAGE CORPORATION
|
2
|
6.56%
|
$16,822
|
ONY GLO, INC.
|
2
|
7.63%
|
$12,648
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
2
|
6.56%
|
$12,346
|
RESIDENTIAL BANCORP
|
2
|
7.00%
|
$11,449
|
Truist
|
2
|
6.70%
|
$7,118
|
U.S. Bank
|
2
|
6.00%
|
$11,082
|
Loan Simple, Inc.
|
1
|
6.75%
|
$12,672
|
LIBERTY HOME MORTGAGE CORPORATION
|
1
|
7.00%
|
$29,494
|
Lakeland Bank
|
1
|
5.75%
|
$11,015
|
Kwik Mortgage Corporation
|
1
|
6.63%
|
$9,479
|
VERITAS FUNDING, LLC
|
1
|
7.00%
|
$32,083
|
HOMESTEAD FUNDING CORP.
|
1
|
7.13%
|
$11,560
|
HARTFORD FUNDING, LTD.
|
1
|
7.63%
|
$23,247
|
Paramount Bank
|
1
|
5.75%
|
$10,944
|
HARBORONE MORTGAGE, LLC
|
1
|
7.25%
|
$14,764
|
GREENTREE MORTGAGE COMPANY, L.P.
|
1
|
7.63%
|
$7,162
|
PENTAGON FEDERAL CREDIT UNION
|
1
|
5.75%
|
$10,902
|
PHH Mortgage Corporation
|
1
|
6.63%
|
$9,282
|
PINNACLE MORTGAGE, INC.
|
1
|
5.75%
|
$10,535
|
FM Home Loans, LLC
|
1
|
7.50%
|
$13,760
|
First Federal Bank
|
1
|
5.63%
|
$20,947
|
First Citizens Community Bank
|
1
|
6.75%
|
$11,201
|
Fifth Third Bank
|
1
|
6.25%
|
$6,474
|
Victorian Finance, LLC
|
1
|
6.00%
|
$6,252
|
FIDELITY DIRECT MORTGAGE, LLC
|
1
|
7.13%
|
$10,150
|
Evolve Bank & Trust
|
1
|
7.50%
|
$11,045
|
EQUITY NOW INC.
|
1
|
7.13%
|
$8,395
|
East Coast Capital Corp.
|
1
|
6.25%
|
$18,373
|
CONTOUR MORTGAGE CORPORATION
|
1
|
7.25%
|
$17,521
|
Quontic Bank
|
1
|
7.25%
|
$12,222
|
Colonial Savings, F.A.
|
1
|
6.50%
|
$12,734
|
AMCAP MORTGAGE, LTD.
|
1
|
6.12%
|
$18,967
|
RESIDENTIAL HOME FUNDING CORP.
|
1
|
7.13%
|
$7,604
|
CLIFFCO, INC.
|
1
|
5.25%
|
$12,858
|
RUOFF MORTGAGE COMPANY, INC.
|
1
|
6.75%
|
$10,229
|
Sierra Pacific Mortgage Company, Inc.
|
1
|
7.63%
|
$7,619
|
Strong Home Mortgage, LLC
|
1
|
5.75%
|
$12,291
|
CALCON MUTUAL MORTGAGE LLC
|
1
|
5.50%
|
$11,930
|
BETTER MORTGAGE CORPORATION
|
1
|
6.25%
|
$11,467
|
SWBC MORTGAGE CORPORATION
|
1
|
6.75%
|
$2,685
|
BAYSHORE MORTGAGE FUNDING, LLC
|
1
|
6.88%
|
$6,881
|
TD Bank
|
1
|
6.50%
|
$13,744
|
BAY EQUITY LLC
|
1
|
5.75%
|
$9,075
|
The Huntington National Bank
|
1
|
7.00%
|
$7,618
|
Barrington Bank & Trust Company, N.A.
|
1
|
6.63%
|
$20,535
|
TOTAL MORTGAGE SERVICES, LLC
|
1
|
7.00%
|
$9,743
|
ACADEMY MORTGAGE CORPORATION
|
1
|
7.63%
|
$10,594
|
Bank of England
|
1
|
4.63%
|
$7,545
|
AmRes Corporation
|
1
|
6.50%
|
$12,586
|
AMERICAN PACIFIC MORTGAGE CORPORATION
|
1
|
7.50%
|
$7,406
|
1st Colonial Community Bank
|
1
|
6.13%
|
$7,489
|
AMERICAN HERITAGE FCU
|
1
|
5.49%
|
$9,944
|
VAN DYK MORTGAGE CORPORATION
|
1
|
6.50%
|
$13,229
|
NATIONS DIRECT MORTGAGE, LLC
|
1
|
5.63%
|
$21,012
|
NETWORK CAPITAL FUNDING CORPORATION
|
1
|
7.13%
|
$8,834
|
Network Funding, L.P.
|
1
|
6.63%
|
$16,841
|
Meridian Bank Corporation
|
1
|
6.25%
|
$6,978
|
MEMBER FIRST MORTGAGE, LLC
|
1
|
6.63%
|
$13,112
|
The top Allentown FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
217 FHA loans originated. Their average total fees are
$11,269, which is $856
lower than the next largest lender,
CROSSCOUNTRY MORTGAGE, LLC.
The lowest fee Allentown FHA lenders (with over 10 loans originated) are
PNC Bank ($8,318), Mortgage America, Inc. ($8,648), Firstrust Savings Bank ($8,731), Univest Bank and Trust Co. ($9,313) and Plains Commerce Bank ($9,521).
The lowest rate Allentown FHA lenders (with over 10 loans originated) are
NVR Mortgage Finance, Inc. (5.75%), Mr. Cooper ( Nationstar Mortgage ) (5.93%), LOANDEPOT.COM, LLC (6.15%), PENNYMAC LOAN SERVICES, LLC (6.15%) and AMERISAVE MORTGAGE CORPORATION (6.21%).
Allentown FHA Loan Limits
Metro |
County |
Year |
Single Family Limit |
2 Family Limit |
3 Family Limit |
4 Family Limit |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ |
WARREN |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ |
CARBON |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ |
LEHIGH |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ |
NORTHAMPTON |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ |
WARREN |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ |
CARBON |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ |
LEHIGH |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
ALLENTOWN-BETHLEHEM-EASTON, PA-NJ |
NORTHAMPTON |
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).