Bloomsburg FHA Loans

BLOOMSBURG-BERWICK, 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.

Bloomsburg's 47 lenders originated 208 FHA loans during 2021. The total origination value was $31,450,000, with an average FHA loan value of $151,202.

Bloomsburg FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Bloomsburg averaged 5.51% for the week of 2022-08-05, compared to the national average (all FHA variants) of 5.305% for the same period.

The average rate for the prior week (2022-07-29) was 5.65% and one month ago for the week of 2022-07-01, the average rate was 5.54%.

The average rate one year ago was 3.14%.

For refis of the same type during the week of 2022-08-05, the average rate was 4.97%.

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

Bloomsburg FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Bloomsburg level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 45 2.86% $6,273
ALLIED MORTGAGE GROUP, INC. 10 3.00% $9,628
SUN WEST MORTGAGE COMPANY, INC. 8 3.10% $7,544
NEWREZ LLC 8 2.94% $5,391
Fulton Bank 8 3.00% $6,829
FREEDOM MORTGAGE CORPORATION 7 3.11% $5,439
PRIMELENDING, A PLAINSCAPITAL COMPANY 7 3.54% $6,485
Mr. Cooper ( Nationstar Mortgage ) 5 3.53% $3,952
CALIBER HOME LOANS, INC. 5 3.02% $5,536
Manufacturers and Traders Trust Company 5 2.93% $6,065
RESIDENTIAL MORTGAGE SERVICES, INC. 4 3.19% $7,186
FIRST HERITAGE FINANCIAL, LLC 3 3.25% $5,603
Citizens Bank 3 2.96% $7,588
Bank of England 3 3.25% $6,896
VILLAGE CAPITAL & INVESTMENT LLC 2 3.37% $1,921
AmeriHome Mortgage Company, LLC 2 3.38% $5,301
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.81% $7,818
Carrington Mortgage Services, LLC 2 3.56% $7,156
GUILD MORTGAGE COMPANY 2 3.63% $7,231
LAKEVIEW LOAN SERVICING, LLC 2 3.25% $5,051
Meridian Bank Corporation 2 3.25% $5,579
Mortgage America, Inc. 2 3.13% $6,574
Nations Lending Corporation 2 3.44% $10,740
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.56% $8,022
SWBC MORTGAGE CORPORATION 2 3.44% $7,116
UNITED MORTGAGE CORP. 2 3.75% $8,931
ACADEMY MORTGAGE CORPORATION 1 3.75% $8,557
MOVEMENT MORTGAGE, LLC 1 2.88% $7,018
EVERETT FINANCIAL, INC. 1 3.13% $6,790
NATIONS DIRECT MORTGAGE, LLC 1 2.99% $13,043
The Federal Savings Bank 1 2.63% $11,808
Century Mortgage Company DBA Century Lending Company 1 3.38% $7,745
NFM, INC. 1 3.13% $7,159
OCEANSIDE MORTGAGE COMPANY 1 2.75% $2,880
PANORAMA MORTGAGE GROUP, LLC 1 3.13% $6,524
PENNYMAC LOAN SERVICES, LLC 1 2.63% $2,650
TIDEWATER MORTGAGE SERVICES, INC. 1 3.75% $5,721
BROKER SOLUTIONS, INC. 1 3.88% $6,924
Quaint Oak Mortgage, LLC 1 2.75% $6,382
FIRST HOME MORTGAGE CORPORATION 1 2.75% $6,871
FIRST ALLIANCE HOME MORTGAGE, LLC 1 2.75% $7,040
AMERISAVE MORTGAGE CORPORATION 1 3.25% $6,097
HOME POINT FINANCIAL CORPORATION 1 3.00% $7,715
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.13% $16,832
LOANDEPOT.COM, LLC 1 3.88% $5,615
FINANCE OF AMERICA MORTGAGE LLC 1 3.75% $8,222
AMERICAN HERITAGE FCU 1 2.88% $4,258

The top Bloomsburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 45 FHA loans originated. Their average total fees are $6,273, which is $3,355 lower than the next largest lender, ALLIED MORTGAGE GROUP, INC..

The lowest fee Bloomsburg FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($6,273), ALLIED MORTGAGE GROUP, INC. ($9,628), .

The lowest rate Bloomsburg FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.86%), ALLIED MORTGAGE GROUP, INC. (3.00%), .

Bloomsburg FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
BLOOMSBURG-BERWICK, PA COLUMBIA 2022 $420,680 $538,650 $651,050 $809,150
BLOOMSBURG-BERWICK, PA MONTOUR 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Bloomsburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $162,450 (9.6%) $224,769 (8.1%) 0.00 332
2018-02-01 $157,900 (3.2%) $230,267 (7.8%) 0.00 314
2018-03-01 $163,900 (-2.1%) $241,244 (6.3%) 0.00 297
2018-04-01 $175,500 (0.3%) $254,487 (9.1%) 0.00 297
2018-05-01 $180,000 (3.9%) $257,133 (12.7%) 0.00 294
2018-06-01 $175,000 (4.0%) $248,540 (8.8%) 0.00 306
2018-07-01 $171,000 (7.6%) $239,412 (8.5%) 0.00 329
2018-08-01 $170,400 (10.0%) $232,401 (7.2%) 0.00 327
2018-09-01 $175,000 (13.0%) $238,591 (10.7%) 0.00 330
2018-10-01 $168,950 (9.4%) $222,765 (3.2%) 0.00 342
2018-11-01 $165,450 (2.5%) $214,180 (-3.9%) 0.00 331
2018-12-01 $160,000 (-3.0%) $209,756 (-6.2%) 0.00 324
2019-01-01 $157,900 (-2.8%) $206,630 (-8.1%) 0.00 320
2019-02-01 $161,000 (2.0%) $215,387 (-6.5%) 0.00 297
2019-03-01 $172,929 (5.5%) $222,869 (-7.6%) 0.00 294
2019-04-01 $184,679 (5.2%) $235,379 (-7.5%) 0.00 287
2019-05-01 $179,950 (0.0%) $231,632 (-9.9%) 0.00 299
2019-06-01 $179,900 (2.8%) $231,061 (-7.0%) 0.00 298
2019-07-01 $182,450 (6.7%) $225,419 (-5.8%) 0.00 294
2019-08-01 $182,086 (6.9%) $222,196 (-4.4%) 0.00 294
2019-09-01 $184,636 (5.5%) $225,857 (-5.3%) 0.00 289
2019-10-01 $166,950 (-1.2%) $222,091 (-0.3%) 0.00 291
2019-11-01 $162,700 (-1.7%) $219,554 (2.5%) 0.00 279
2019-12-01 $159,715 (-0.2%) $215,880 (2.9%) 0.00 248
2020-01-01 $159,450 (1.0%) $216,219 (4.6%) 0.00 225
2020-02-01 $172,000 (6.8%) $223,705 (3.9%) 0.00 210
2020-03-01 $181,000 (4.7%) $239,011 (7.2%) 0.00 213
2020-04-01 $188,950 (2.3%) $239,162 (1.6%) 0.00 198
2020-05-01 $180,000 (0.0%) $241,843 (4.4%) 0.00 192
2020-06-01 $179,900 (0.0%) $241,464 (4.5%) 0.00 176
2020-07-01 $182,400 (0.0%) $232,741 (3.3%) 0.00 166
2020-08-01 $179,900 (-1.2%) $225,146 (1.3%) 0.00 173
2020-09-01 $186,750 (1.2%) $225,607 (-0.1%) 0.00 154
2020-10-01 $175,000 (4.8%) $223,067 (0.4%) 0.00 145
2020-11-01 $169,900 (4.4%) $220,560 (0.5%) 0.00 135
2020-12-01 $172,450 (8.0%) $222,717 (3.2%) 0.00 137
2021-01-01 $169,000 (6.0%) $219,476 (1.5%) 0.00 135
2021-02-01 $188,250 (9.5%) $242,482 (8.4%) 0.00 112
2021-03-01 $189,000 (4.4%) $252,583 (5.7%) 0.00 99
2021-04-01 $189,000 (0.0%) $278,458 (16.4%) 0.00 89
2021-05-01 $186,900 (3.8%) $265,358 (9.7%) 0.00 96
2021-06-01 $180,500 (0.3%) $246,413 (2.1%) 0.00 114
2021-07-01 $200,000 (9.7%) $255,262 (9.7%) 0.00 128
2021-08-01 $209,450 (16.4%) $298,198 (32.5%) 0.00 101
2021-09-01 $199,900 (7.0%) $280,756 (24.4%) 0.00 97
2021-10-01 $205,900 (17.7%) $278,321 (24.8%) 0.00 100
2021-11-01 $190,000 (11.8%) $257,504 (16.8%) 0.00 95
2021-12-01 $198,450 (15.1%) $275,271 (23.6%) 0.00 84
2022-01-01 $190,000 (12.4%) $309,327 (40.9%) 0.00 62
2022-02-01 $179,950 (-4.4%) $287,586 (18.6%) 0.00 63
2022-03-01 $182,000 (-3.7%) $280,540 (11.1%) 0.00 63
2022-04-01 $190,000 (0.5%) $312,383 (12.2%) 0.00 64
2022-05-01 $225,000 (20.4%) $319,996 (20.6%) 0.00 78
2022-06-01 $269,450 (49.3%) $344,068 (39.6%) 0.00 101
Bloomsburg's median listing price for 2022-06-01 was $269,450, a difference of $88,950 (49.3%) versus the prior year and $44,450 versus the prior month.

Bloomsburg's median listing price comes in at 0% of the national average.

Bloomsburg's average listing price for 2022-06-01 was $344,068, a difference of $97,655 (39.6%) versus the prior year and $24,072 versus the prior month.

For the 2022-06-01 period, Bloomsburg had 101 MLS listings, a difference of 23 listings (29%) versus the prior month and -13 listings (-11%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Bloomsburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,719 sqft
2018-02-01 0 days 1,720 sqft
2018-03-01 0 days 1,722 sqft
2018-04-01 0 days 1,785 sqft
2018-05-01 0 days 1,780 sqft
2018-06-01 0 days 1,772 sqft
2018-07-01 0 days 1,722 sqft
2018-08-01 0 days 1,709 sqft
2018-09-01 0 days 1,717 sqft
2018-10-01 0 days 1,712 sqft
2018-11-01 0 days 1,688 sqft
2018-12-01 0 days 1,672 sqft
2019-01-01 0 days 1,686 sqft
2019-02-01 0 days 1,704 sqft
2019-03-01 0 days 1,737 sqft
2019-04-01 0 days 1,805 sqft
2019-05-01 0 days 1,758 sqft
2019-06-01 0 days 1,745 sqft
2019-07-01 0 days 1,697 sqft
2019-08-01 0 days 1,697 sqft
2019-09-01 0 days 1,700 sqft
2019-10-01 0 days 1,679 sqft
2019-11-01 0 days 1,676 sqft
2019-12-01 0 days 1,677 sqft
2020-01-01 0 days 1,687 sqft
2020-02-01 0 days 1,708 sqft
2020-03-01 0 days 1,752 sqft
2020-04-01 0 days 1,722 sqft
2020-05-01 0 days 1,678 sqft
2020-06-01 0 days 1,672 sqft
2020-07-01 0 days 1,690 sqft
2020-08-01 0 days 1,690 sqft
2020-09-01 0 days 1,741 sqft
2020-10-01 0 days 1,730 sqft
2020-11-01 0 days 1,607 sqft
2020-12-01 0 days 1,617 sqft
2021-01-01 0 days 1,662 sqft
2021-02-01 0 days 1,723 sqft
2021-03-01 0 days 1,719 sqft
2021-04-01 0 days 1,768 sqft
2021-05-01 0 days 1,708 sqft
2021-06-01 0 days 1,700 sqft
2021-07-01 0 days 1,660 sqft
2021-08-01 0 days 1,708 sqft
2021-09-01 0 days 1,720 sqft
2021-10-01 0 days 1,752 sqft
2021-11-01 0 days 1,660 sqft
2021-12-01 0 days 1,715 sqft
2022-01-01 0 days 1,730 sqft
2022-02-01 0 days 1,674 sqft
2022-03-01 0 days 1,662 sqft
2022-04-01 0 days 1,730 sqft
2022-05-01 0 days 1,810 sqft
2022-06-01 0 days 1,920 sqft
Bloomsburg's median listing age (time on market) for 2022-06-01 was 0 days.

Bloomsburg's median square footage for active listings during the 2022-06-01 period was 1,920 sqft. One year prior, the average listing was 1,700 sqft.

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).