Bradford FHA Loan Rates, Closing Costs & Stats

Bradford, PA

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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.

    Bradford's 18 lenders originated 60 FHA loans during 2023. The total origination value was $7,100,000, with an average FHA loan value of $118,333.

    Bradford FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Bradford averaged 0.34% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Bradford's average FHA mortgage closing costs are $6,174.

    The average rate for the prior week (2024-11-08) was 6.45% and one month ago for the week of 2024-10-11, the average rate was 6.35%.

    The average rate one year ago was 7.6%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.2%.

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

    Bradford 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 Bradford level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 22 6.52% $7,064
    GUARANTEED RATE, INC. 6 7.27% $7,827
    SUCCESS MORTGAGE PARTNERS, INC. 3 6.96% $6,236
    NEWREZ LLC 2 7.00% $5,513
    MID-ISLAND MORTGAGE CORP. 2 6.25% $6,364
    BROKER SOLUTIONS, INC. 2 6.69% $9,289
    Mortgage Research Center, LLC 2 7.38% $3,688
    MOVEMENT MORTGAGE, LLC 2 7.50% $7,131
    UNITED WHOLESALE MORTGAGE, LLC 1 8.21% $14,023
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $7,354
    Univest Bank and Trust Co. 1 6.75% $7,424
    LOANDEPOT.COM, LLC 1 6.25% $8,649
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $11,114
    PENNYMAC LOAN SERVICES, LLC 1 7.25% $8,957
    PLAZA HOME MORTGAGE, INC. 1 7.25% $11,915
    PNC Bank 1 7.25% $9,052
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $5,066
    RUOFF MORTGAGE COMPANY, INC. 1 5.00% $9,026

    The top Bradford FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 22 FHA loans originated. Their average total fees are $7,064, which is $763 lower than the next largest lender, GUARANTEED RATE, INC..

    The lowest fee Bradford FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($7,064), .

    The lowest rate Bradford FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.52%), .

    Bradford FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BRADFORD, PA MCKEAN 2022 $420,680 $538,650 $651,050 $809,150
    BRADFORD, PA MCKEAN 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bradford (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 $79,900 (-11.0%) $112,702 (-13.5%) 0.00 175
    2018-02-01 $79,900 (-11.1%) $119,694 (0.4%) 0.00 177
    2018-03-01 $79,900 (-11.1%) $118,156 (-3.6%) 0.00 174
    2018-04-01 $82,225 (-13.4%) $119,630 (-5.6%) 0.00 186
    2018-05-01 $80,417 (-10.6%) $122,472 (-2.2%) 0.00 200
    2018-06-01 $88,250 (-1.6%) $130,545 (6.0%) 0.00 185
    2018-07-01 $95,325 (10.6%) $133,442 (10.9%) 0.00 193
    2018-08-01 $94,450 (11.2%) $133,663 (10.4%) 0.00 196
    2018-09-01 $88,750 (4.5%) $132,401 (6.7%) 0.00 201
    2018-10-01 $84,900 (0.0%) $129,332 (4.3%) 0.00 215
    2018-11-01 $84,100 (-0.4%) $126,947 (5.9%) 0.00 198
    2018-12-01 $80,000 (0.0%) $123,104 (5.1%) 0.00 192
    2019-01-01 $79,900 (0.0%) $120,403 (6.8%) 0.00 182
    2019-02-01 $79,825 (-0.1%) $118,598 (-0.9%) 0.00 175
    2019-03-01 $79,843 (-0.1%) $115,500 (-2.3%) 0.00 179
    2019-04-01 $79,900 (-2.8%) $111,237 (-7.0%) 0.00 179
    2019-05-01 $84,900 (5.6%) $113,346 (-7.5%) 0.00 194
    2019-06-01 $79,900 (-9.5%) $109,843 (-15.9%) 0.00 189
    2019-07-01 $82,850 (-13.1%) $113,650 (-14.8%) 0.00 194
    2019-08-01 $84,118 (-10.9%) $113,204 (-15.3%) 0.00 198
    2019-09-01 $81,745 (-7.9%) $112,523 (-15.0%) 0.00 201
    2019-10-01 $79,425 (-6.5%) $111,803 (-13.6%) 0.00 199
    2019-11-01 $77,900 (-7.4%) $107,780 (-15.1%) 0.00 194
    2019-12-01 $82,250 (2.8%) $106,977 (-13.1%) 0.00 180
    2020-01-01 $81,250 (1.7%) $104,920 (-12.9%) 0.00 171
    2020-02-01 $79,750 (-0.1%) $104,810 (-11.6%) 0.00 173
    2020-03-01 $85,925 (7.6%) $107,045 (-7.3%) 0.00 177
    2020-04-01 $84,900 (6.3%) $105,783 (-4.9%) 0.00 167
    2020-05-01 $82,450 (-2.9%) $105,032 (-7.3%) 0.00 163
    2020-06-01 $83,700 (4.8%) $106,262 (-3.3%) 0.00 157
    2020-07-01 $85,175 (2.8%) $109,735 (-3.5%) 0.00 149
    2020-08-01 $84,900 (0.9%) $115,404 (1.9%) 0.00 123
    2020-09-01 $84,225 (3.0%) $116,503 (3.5%) 0.00 113
    2020-10-01 $80,000 (0.7%) $120,357 (7.7%) 0.00 105
    2020-11-01 $81,200 (4.2%) $118,535 (10.0%) 0.00 95
    2020-12-01 $75,925 (-7.7%) $116,390 (8.8%) 0.00 82
    2021-01-01 $79,450 (-2.2%) $118,448 (12.9%) 0.00 71
    2021-02-01 $72,650 (-8.9%) $112,705 (7.5%) 0.00 59
    2021-03-01 $73,400 (-14.6%) $115,767 (8.2%) 0.00 48
    2021-04-01 $79,050 (-6.9%) $120,190 (13.6%) 0.00 46
    2021-05-01 $99,750 (21.0%) $136,801 (30.3%) 0.00 49
    2021-06-01 $97,300 (16.3%) $140,846 (32.6%) 0.00 61
    2021-07-01 $111,325 (30.7%) $152,092 (38.6%) 0.00 62
    2021-08-01 $122,463 (44.2%) $173,112 (50.0%) 0.00 63
    2021-09-01 $125,688 (49.2%) $175,463 (50.6%) 0.00 63
    2021-10-01 $122,950 (53.7%) $163,660 (36.0%) 0.00 70
    2021-11-01 $130,700 (61.0%) $175,964 (48.5%) 0.00 59
    2021-12-01 $126,950 (67.2%) $169,089 (45.3%) 0.00 61
    2022-01-01 $129,000 (62.4%) $177,114 (49.5%) 0.00 51
    2022-02-01 $139,450 (92.0%) $188,837 (67.6%) 0.00 46
    2022-03-01 $139,475 (90.0%) $176,995 (52.9%) 0.00 47
    2022-04-01 $127,400 (61.2%) $175,535 (46.1%) 0.00 47
    2022-05-01 $133,725 (34.1%) $172,846 (26.4%) 0.00 50
    2022-06-01 $131,175 (34.8%) $183,125 (30.0%) 0.00 54
    2022-07-01 $129,900 (16.7%) $193,838 (27.5%) 0.00 69
    2022-08-01 $135,650 (10.8%) $190,332 (10.0%) 0.00 73
    2022-09-01 $131,175 (4.4%) $181,452 (3.4%) 0.00 69
    2022-10-01 $132,450 (7.7%) $170,455 (4.2%) 0.00 77
    2022-11-01 $133,725 (2.3%) $165,913 (-5.7%) 0.00 71
    2022-12-01 $129,900 (2.3%) $158,892 (-6.0%) 0.00 64
    2023-01-01 $131,150 (1.7%) $151,105 (-14.7%) 0.00 62
    2023-02-01 $124,675 (-10.6%) $149,541 (-20.8%) 0.00 59
    2023-03-01 $130,000 (-6.8%) $154,148 (-12.9%) 0.00 58
    2023-04-01 $154,500 (21.3%) $185,641 (5.8%) 0.00 54
    2023-05-01 $164,750 (23.2%) $178,284 (3.2%) 0.00 63
    2023-06-01 $161,250 (22.9%) $173,817 (-5.1%) 0.00 65
    2023-07-01 $149,450 (15.1%) $190,927 (-1.5%) 0.00 56
    2023-08-01 $144,950 (6.9%) $192,441 (1.1%) 0.00 59
    2023-09-01 $142,400 (8.6%) $183,228 (1.0%) 0.00 58
    2023-10-01 $147,250 (11.2%) $187,889 (10.2%) 0.00 65
    2023-11-01 $154,250 (15.4%) $189,525 (14.2%) 0.00 65
    2023-12-01 $159,000 (22.4%) $187,586 (18.1%) 0.00 68
    2024-01-01 $175,000 (33.4%) $202,333 (33.9%) 0.00 58
    2024-02-01 $181,000 (45.2%) $196,443 (31.4%) 0.00 50
    2024-03-01 $169,000 (30.0%) $187,270 (21.5%) 0.00 48
    2024-04-01 $166,475 (7.8%) $192,879 (3.9%) 0.00 43
    2024-05-01 $164,925 (0.1%) $184,176 (3.3%) 0.00 45
    2024-06-01 $162,500 (0.8%) $186,015 (7.0%) 0.00 52
    2024-07-01 $159,900 (7.0%) $188,337 (-1.4%) 0.00 67
    2024-08-01 $159,900 (10.3%) $183,398 (-4.7%) 0.00 67
    2024-09-01 $166,150 (16.7%) $187,193 (2.2%) 0.00 79
    2024-10-01 $167,400 (13.7%) $206,537 (9.9%) 0.00 86
    Bradford's median listing price for 2024-10-01 was $167,400, a difference of $20,150 (13.7%) versus the prior year and $1,250 versus the prior month.

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

    Bradford's average listing price for 2024-10-01 was $206,537, a difference of $18,648 (9.9%) versus the prior year and $19,344 versus the prior month.

    For the 2024-10-01 period, Bradford had 86 MLS listings, a difference of 7 listings (9%) versus the prior month and 21 listings (32%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bradford (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,600 sqft
    2018-02-01 0 days 1,600 sqft
    2018-03-01 0 days 1,600 sqft
    2018-04-01 0 days 1,619 sqft
    2018-05-01 0 days 1,636 sqft
    2018-06-01 0 days 1,654 sqft
    2018-07-01 0 days 1,652 sqft
    2018-08-01 0 days 1,613 sqft
    2018-09-01 0 days 1,572 sqft
    2018-10-01 0 days 1,552 sqft
    2018-11-01 0 days 1,524 sqft
    2018-12-01 0 days 1,508 sqft
    2019-01-01 0 days 1,504 sqft
    2019-02-01 0 days 1,504 sqft
    2019-03-01 0 days 1,507 sqft
    2019-04-01 0 days 1,507 sqft
    2019-05-01 0 days 1,526 sqft
    2019-06-01 0 days 1,535 sqft
    2019-07-01 0 days 1,600 sqft
    2019-08-01 0 days 1,615 sqft
    2019-09-01 0 days 1,606 sqft
    2019-10-01 0 days 1,601 sqft
    2019-11-01 0 days 1,568 sqft
    2019-12-01 0 days 1,567 sqft
    2020-01-01 0 days 1,544 sqft
    2020-02-01 0 days 1,524 sqft
    2020-03-01 0 days 1,555 sqft
    2020-04-01 0 days 1,562 sqft
    2020-05-01 0 days 1,564 sqft
    2020-06-01 0 days 1,552 sqft
    2020-07-01 0 days 1,558 sqft
    2020-08-01 0 days 1,564 sqft
    2020-09-01 0 days 1,547 sqft
    2020-10-01 0 days 1,556 sqft
    2020-11-01 0 days 1,520 sqft
    2020-12-01 0 days 1,548 sqft
    2021-01-01 0 days 1,544 sqft
    2021-02-01 0 days 1,538 sqft
    2021-03-01 0 days 1,540 sqft
    2021-04-01 0 days 1,672 sqft
    2021-05-01 0 days 1,756 sqft
    2021-06-01 0 days 1,557 sqft
    2021-07-01 0 days 1,716 sqft
    2021-08-01 0 days 1,737 sqft
    2021-09-01 0 days 1,792 sqft
    2021-10-01 0 days 1,776 sqft
    2021-11-01 0 days 1,817 sqft
    2021-12-01 0 days 1,697 sqft
    2022-01-01 0 days 1,698 sqft
    2022-02-01 0 days 1,792 sqft
    2022-03-01 0 days 1,790 sqft
    2022-04-01 0 days 1,798 sqft
    2022-05-01 0 days 1,726 sqft
    2022-06-01 0 days 1,654 sqft
    2022-07-01 0 days 1,695 sqft
    2022-08-01 0 days 1,695 sqft
    2022-09-01 0 days 1,565 sqft
    2022-10-01 0 days 1,561 sqft
    2022-11-01 0 days 1,553 sqft
    2022-12-01 0 days 1,567 sqft
    2023-01-01 0 days 1,565 sqft
    2023-02-01 0 days 1,570 sqft
    2023-03-01 0 days 1,640 sqft
    2023-04-01 0 days 1,794 sqft
    2023-05-01 0 days 1,778 sqft
    2023-06-01 0 days 1,794 sqft
    2023-07-01 0 days 1,800 sqft
    2023-08-01 0 days 1,728 sqft
    2023-09-01 0 days 1,581 sqft
    2023-10-01 0 days 1,648 sqft
    2023-11-01 0 days 1,688 sqft
    2023-12-01 0 days 1,832 sqft
    2024-01-01 0 days 1,965 sqft
    2024-02-01 0 days 1,936 sqft
    2024-03-01 0 days 1,898 sqft
    2024-04-01 0 days 1,548 sqft
    2024-05-01 0 days 1,535 sqft
    2024-06-01 0 days 1,576 sqft
    2024-07-01 0 days 1,546 sqft
    2024-08-01 0 days 1,552 sqft
    2024-09-01 0 days 1,544 sqft
    2024-10-01 0 days 1,549 sqft
    Bradford's median listing age (time on market) for 2024-10-01 was 0 days.

    Bradford's median square footage for active listings during the 2024-10-01 period was 1,549 sqft. One year prior, the average listing was 1,648 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).