Bradford FHA Loan Rates, Closing Costs & Stats

Bradford, 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.

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 6.4% for the week of 2024-12-06, compared to the national average (all FHA variants) of 6.363% for the same period.

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

The average rate for the prior week (2024-11-29) was 6.74% 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 6.36%.

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
2024-11-01 $169,900 (10.2%) $206,216 (8.8%) 0.00 93
Bradford's median listing price for 2024-11-01 was $169,900, a difference of $15,650 (10.2%) versus the prior year and $2,500 versus the prior month.

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

Bradford's average listing price for 2024-11-01 was $206,216, a difference of $16,691 (8.8%) versus the prior year and $-321 versus the prior month.

For the 2024-11-01 period, Bradford had 93 MLS listings, a difference of 7 listings (8%) versus the prior month and 28 listings (43%) 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
2024-11-01 0 days 1,561 sqft
Bradford's median listing age (time on market) for 2024-11-01 was 0 days.

Bradford's median square footage for active listings during the 2024-11-01 period was 1,561 sqft. One year prior, the average listing was 1,688 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).