Altoona FHA Loan Rates, Closing Costs & Stats
ALTOONA, PA
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.
Altoona's 46 lenders originated 229 FHA loans during 2023. The total origination value was $33,305,000, with an average FHA loan value of $145,437.
Altoona FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Altoona
averaged
6.31%
for the week of 2024-12-06, compared to the national average (all FHA variants) of
6.363% for the same period.
Altoona's average FHA mortgage closing costs are $6,313.
The average rate for the prior week (2024-11-29) was
6.15% and
one month ago for the week of 2024-11-01, the
average rate was 6.44%.
The average rate one year ago was 6.97%.
For refis of the same type during the week of 2024-12-06, the average rate
was 6.46%.
Altoona 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 Altoona level.
The top Altoona FHA lender as defined by loan originations is Flagstar Bank, FSB, with
32 FHA loans originated. Their average total fees are
$7,268, which is $272
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Altoona FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($6,996), Flagstar Bank, FSB ($7,268), EQUITY RESOURCES, INC. ($7,693), Citizens Bank ($8,139) and CROSSCOUNTRY MORTGAGE, LLC ($8,811).
The lowest rate Altoona FHA lenders (with over 10 loans originated) are
Citizens Bank (5.95%), QUICKEN LOANS, LLC (6.38%), Flagstar Bank, FSB (6.45%), EQUITY RESOURCES, INC. (6.60%) and CROSSCOUNTRY MORTGAGE, LLC (6.91%).
Altoona FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
ALTOONA, PA | BLAIR | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
ALTOONA, PA | BLAIR | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Altoona (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $138,650 (22.8%) | $200,003 (15.0%) | 0.00 | 335 |
2018-02-01 | $134,975 (18.7%) | $195,581 (12.4%) | 0.00 | 329 |
2018-03-01 | $132,500 (4.0%) | $197,976 (2.5%) | 0.00 | 322 |
2018-04-01 | $139,900 (11.9%) | $201,666 (3.9%) | 0.00 | 303 |
2018-05-01 | $139,913 (2.2%) | $186,437 (-5.3%) | 0.00 | 338 |
2018-06-01 | $139,900 (0.3%) | $185,821 (-9.1%) | 0.00 | 344 |
2018-07-01 | $139,250 (0.9%) | $182,943 (-8.8%) | 0.00 | 361 |
2018-08-01 | $137,975 (2.2%) | $181,137 (-10.6%) | 0.00 | 363 |
2018-09-01 | $135,000 (3.5%) | $181,856 (-8.7%) | 0.00 | 358 |
2018-10-01 | $129,950 (0.0%) | $177,815 (-5.6%) | 0.00 | 370 |
2018-11-01 | $129,000 (-0.7%) | $170,331 (-6.6%) | 0.00 | 367 |
2018-12-01 | $125,000 (-7.3%) | $170,001 (-13.3%) | 0.00 | 336 |
2019-01-01 | $126,950 (-8.4%) | $173,359 (-13.3%) | 0.00 | 315 |
2019-02-01 | $124,950 (-7.4%) | $172,263 (-11.9%) | 0.00 | 308 |
2019-03-01 | $128,386 (-3.1%) | $171,556 (-13.4%) | 0.00 | 306 |
2019-04-01 | $135,900 (-2.9%) | $175,680 (-12.9%) | 0.00 | 310 |
2019-05-01 | $132,250 (-5.5%) | $177,192 (-5.0%) | 0.00 | 335 |
2019-06-01 | $130,000 (-7.1%) | $174,813 (-5.9%) | 0.00 | 362 |
2019-07-01 | $129,975 (-6.7%) | $173,932 (-4.9%) | 0.00 | 381 |
2019-08-01 | $133,536 (-3.2%) | $177,675 (-1.9%) | 0.00 | 386 |
2019-09-01 | $131,491 (-2.6%) | $176,154 (-3.1%) | 0.00 | 395 |
2019-10-01 | $129,900 (0.0%) | $176,122 (-1.0%) | 0.00 | 399 |
2019-11-01 | $125,000 (-3.1%) | $178,381 (4.7%) | 0.00 | 376 |
2019-12-01 | $124,800 (-0.2%) | $175,637 (3.3%) | 0.00 | 369 |
2020-01-01 | $124,850 (-1.7%) | $176,005 (1.5%) | 0.00 | 348 |
2020-02-01 | $124,900 (0.0%) | $174,930 (1.6%) | 0.00 | 322 |
2020-03-01 | $124,988 (-2.7%) | $178,294 (3.9%) | 0.00 | 311 |
2020-04-01 | $129,925 (-4.4%) | $186,222 (6.0%) | 0.00 | 298 |
2020-05-01 | $139,500 (5.5%) | $193,335 (9.1%) | 0.00 | 299 |
2020-06-01 | $137,950 (6.1%) | $185,654 (6.2%) | 0.00 | 283 |
2020-07-01 | $149,700 (15.2%) | $192,185 (10.5%) | 0.00 | 263 |
2020-08-01 | $145,000 (8.6%) | $195,195 (9.9%) | 0.00 | 259 |
2020-09-01 | $142,225 (8.2%) | $187,876 (6.7%) | 0.00 | 250 |
2020-10-01 | $143,400 (10.4%) | $187,753 (6.6%) | 0.00 | 241 |
2020-11-01 | $144,925 (15.9%) | $188,371 (5.6%) | 0.00 | 203 |
2020-12-01 | $149,000 (19.4%) | $197,992 (12.7%) | 0.00 | 182 |
2021-01-01 | $145,900 (16.9%) | $201,852 (14.7%) | 0.00 | 180 |
2021-02-01 | $143,450 (14.9%) | $186,804 (6.8%) | 0.00 | 160 |
2021-03-01 | $148,450 (18.8%) | $188,563 (5.8%) | 0.00 | 140 |
2021-04-01 | $157,325 (21.1%) | $195,161 (4.8%) | 0.00 | 128 |
2021-05-01 | $149,900 (7.5%) | $190,886 (-1.3%) | 0.00 | 120 |
2021-06-01 | $154,475 (12.0%) | $195,612 (5.4%) | 0.00 | 132 |
2021-07-01 | $150,000 (0.2%) | $198,761 (3.4%) | 0.00 | 148 |
2021-08-01 | $148,725 (2.6%) | $189,136 (-3.1%) | 0.00 | 160 |
2021-09-01 | $149,725 (5.3%) | $186,075 (-1.0%) | 0.00 | 164 |
2021-10-01 | $149,900 (4.5%) | $191,407 (2.0%) | 0.00 | 157 |
2021-11-01 | $151,150 (4.3%) | $210,115 (11.5%) | 0.00 | 148 |
2021-12-01 | $139,900 (-6.1%) | $198,031 (0.0%) | 0.00 | 140 |
2022-01-01 | $144,900 (-0.7%) | $203,670 (0.9%) | 0.00 | 121 |
2022-02-01 | $142,450 (-0.7%) | $205,270 (9.9%) | 0.00 | 113 |
2022-03-01 | $149,900 (1.0%) | $211,307 (12.1%) | 0.00 | 93 |
2022-04-01 | $149,450 (-5.0%) | $216,883 (11.1%) | 0.00 | 95 |
2022-05-01 | $144,450 (-3.6%) | $198,000 (3.7%) | 0.00 | 152 |
2022-06-01 | $146,500 (-5.2%) | $188,963 (-3.4%) | 0.00 | 166 |
2022-07-01 | $151,450 (1.0%) | $197,442 (-0.7%) | 0.00 | 178 |
2022-08-01 | $139,900 (-5.9%) | $189,791 (0.4%) | 0.00 | 168 |
2022-09-01 | $136,000 (-9.2%) | $181,949 (-2.2%) | 0.00 | 170 |
2022-10-01 | $139,900 (-6.7%) | $183,506 (-4.1%) | 0.00 | 165 |
2022-11-01 | $152,200 (0.7%) | $186,488 (-11.2%) | 0.00 | 160 |
2022-12-01 | $150,000 (7.2%) | $188,659 (-4.7%) | 0.00 | 163 |
2023-01-01 | $139,900 (-3.5%) | $186,131 (-8.6%) | 0.00 | 142 |
2023-02-01 | $139,500 (-2.1%) | $177,003 (-13.8%) | 0.00 | 147 |
2023-03-01 | $139,800 (-6.7%) | $178,923 (-15.3%) | 0.00 | 146 |
2023-04-01 | $139,700 (-6.5%) | $180,783 (-16.6%) | 0.00 | 143 |
2023-05-01 | $139,700 (-3.3%) | $190,248 (-3.9%) | 0.00 | 150 |
2023-06-01 | $135,370 (-7.6%) | $195,490 (3.5%) | 0.00 | 138 |
2023-07-01 | $160,000 (5.7%) | $210,868 (6.8%) | 0.00 | 149 |
2023-08-01 | $155,175 (10.9%) | $206,996 (9.1%) | 0.00 | 172 |
2023-09-01 | $139,900 (2.9%) | $200,639 (10.3%) | 0.00 | 178 |
2023-10-01 | $141,250 (1.0%) | $199,844 (8.9%) | 0.00 | 192 |
2023-11-01 | $142,125 (-6.6%) | $186,770 (0.2%) | 0.00 | 209 |
2023-12-01 | $136,000 (-9.3%) | $182,411 (-3.3%) | 0.00 | 200 |
2024-01-01 | $129,900 (-7.2%) | $177,996 (-4.4%) | 0.00 | 184 |
2024-02-01 | $129,950 (-6.9%) | $181,864 (2.8%) | 0.00 | 153 |
2024-03-01 | $144,900 (3.7%) | $201,954 (12.9%) | 0.00 | 160 |
2024-04-01 | $153,550 (9.9%) | $202,372 (11.9%) | 0.00 | 174 |
2024-05-01 | $141,250 (1.1%) | $186,440 (-2.0%) | 0.00 | 175 |
2024-06-01 | $140,000 (3.4%) | $183,065 (-6.4%) | 0.00 | 180 |
2024-07-01 | $142,250 (-11.1%) | $179,385 (-14.9%) | 0.00 | 206 |
2024-08-01 | $149,000 (-4.0%) | $188,239 (-9.1%) | 0.00 | 235 |
2024-09-01 | $146,500 (4.7%) | $188,091 (-6.3%) | 0.00 | 240 |
2024-10-01 | $146,500 (3.7%) | $191,340 (-4.3%) | 0.00 | 251 |
2024-11-01 | $145,700 (2.5%) | $195,435 (4.6%) | 0.00 | 258 |
Altoona's median listing price comes in at 0% of the national average.
Altoona's average listing price for 2024-11-01 was $195,435, a difference of $8,665 (4.6%) versus the prior year and $4,095 versus the prior month.
For the 2024-11-01 period, Altoona had 258 MLS listings, a difference of 7 listings (3%) versus the prior month and 49 listings (23%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Altoona (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,948 sqft |
2018-02-01 | 0 days | 1,882 sqft |
2018-03-01 | 0 days | 1,820 sqft |
2018-04-01 | 0 days | 1,821 sqft |
2018-05-01 | 0 days | 1,760 sqft |
2018-06-01 | 0 days | 1,820 sqft |
2018-07-01 | 0 days | 1,751 sqft |
2018-08-01 | 0 days | 1,716 sqft |
2018-09-01 | 0 days | 1,768 sqft |
2018-10-01 | 0 days | 1,744 sqft |
2018-11-01 | 0 days | 1,690 sqft |
2018-12-01 | 0 days | 1,700 sqft |
2019-01-01 | 0 days | 1,700 sqft |
2019-02-01 | 0 days | 1,705 sqft |
2019-03-01 | 0 days | 1,736 sqft |
2019-04-01 | 0 days | 1,759 sqft |
2019-05-01 | 0 days | 1,806 sqft |
2019-06-01 | 0 days | 1,766 sqft |
2019-07-01 | 0 days | 1,795 sqft |
2019-08-01 | 0 days | 1,822 sqft |
2019-09-01 | 0 days | 1,794 sqft |
2019-10-01 | 0 days | 1,760 sqft |
2019-11-01 | 0 days | 1,805 sqft |
2019-12-01 | 0 days | 1,800 sqft |
2020-01-01 | 0 days | 1,783 sqft |
2020-02-01 | 0 days | 1,795 sqft |
2020-03-01 | 0 days | 1,767 sqft |
2020-04-01 | 0 days | 1,748 sqft |
2020-05-01 | 0 days | 1,800 sqft |
2020-06-01 | 0 days | 1,785 sqft |
2020-07-01 | 0 days | 1,867 sqft |
2020-08-01 | 0 days | 1,838 sqft |
2020-09-01 | 0 days | 1,747 sqft |
2020-10-01 | 0 days | 1,736 sqft |
2020-11-01 | 0 days | 1,658 sqft |
2020-12-01 | 0 days | 1,688 sqft |
2021-01-01 | 0 days | 1,708 sqft |
2021-02-01 | 0 days | 1,803 sqft |
2021-03-01 | 0 days | 1,788 sqft |
2021-04-01 | 0 days | 1,800 sqft |
2021-05-01 | 0 days | 1,770 sqft |
2021-06-01 | 0 days | 1,784 sqft |
2021-07-01 | 0 days | 1,829 sqft |
2021-08-01 | 0 days | 1,773 sqft |
2021-09-01 | 0 days | 1,782 sqft |
2021-10-01 | 0 days | 1,750 sqft |
2021-11-01 | 0 days | 1,810 sqft |
2021-12-01 | 0 days | 1,794 sqft |
2022-01-01 | 0 days | 1,784 sqft |
2022-02-01 | 0 days | 1,779 sqft |
2022-03-01 | 0 days | 1,775 sqft |
2022-04-01 | 0 days | 1,788 sqft |
2022-05-01 | 0 days | 1,788 sqft |
2022-06-01 | 0 days | 1,789 sqft |
2022-07-01 | 0 days | 1,784 sqft |
2022-08-01 | 0 days | 1,792 sqft |
2022-09-01 | 0 days | 1,784 sqft |
2022-10-01 | 0 days | 1,720 sqft |
2022-11-01 | 0 days | 1,677 sqft |
2022-12-01 | 0 days | 1,680 sqft |
2023-01-01 | 0 days | 1,686 sqft |
2023-02-01 | 0 days | 1,683 sqft |
2023-03-01 | 0 days | 1,686 sqft |
2023-04-01 | 0 days | 1,692 sqft |
2023-05-01 | 0 days | 1,700 sqft |
2023-06-01 | 0 days | 1,687 sqft |
2023-07-01 | 0 days | 1,733 sqft |
2023-08-01 | 0 days | 1,717 sqft |
2023-09-01 | 0 days | 1,686 sqft |
2023-10-01 | 0 days | 1,618 sqft |
2023-11-01 | 0 days | 1,609 sqft |
2023-12-01 | 0 days | 1,679 sqft |
2024-01-01 | 0 days | 1,677 sqft |
2024-02-01 | 0 days | 1,680 sqft |
2024-03-01 | 0 days | 1,654 sqft |
2024-04-01 | 0 days | 1,656 sqft |
2024-05-01 | 0 days | 1,645 sqft |
2024-06-01 | 0 days | 1,600 sqft |
2024-07-01 | 0 days | 1,616 sqft |
2024-08-01 | 0 days | 1,632 sqft |
2024-09-01 | 0 days | 1,684 sqft |
2024-10-01 | 0 days | 1,653 sqft |
2024-11-01 | 0 days | 1,672 sqft |
Altoona's median square footage for active listings during the 2024-11-01 period was 1,672 sqft. One year prior, the average listing was 1,609 sqft.