Chambersburg FHA Loan Rates, Closing Costs & Stats
CHAMBERSBURG-WAYNESBORO, 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.
Chambersburg's 90 lenders originated 401 FHA loans during 2023. The total origination value was $115,325,000, with an average FHA loan value of $287,594.
Chambersburg FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Chambersburg
averaged
-0.07%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Chambersburg's average FHA mortgage closing costs are $8,231.
The average rate for the prior week (2024-11-22) was
6.32% and
one month ago for the week of 2024-10-25, the
average rate was 6.1%.
The average rate one year ago was 6.79%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.67%.
Chambersburg 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 Chambersburg level.
The top Chambersburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
39 FHA loans originated. Their average total fees are
$10,564, which is $75
higher than the next largest lender,
GUILD MORTGAGE COMPANY.
The lowest fee Chambersburg FHA lenders (with over 10 loans originated) are
PATRIOT ($9,277), M&T Bank ($9,636), GUILD MORTGAGE COMPANY ($10,489), QUICKEN LOANS, LLC ($10,564) and CROSSCOUNTRY MORTGAGE, LLC ($11,124).
The lowest rate Chambersburg FHA lenders (with over 10 loans originated) are
PATRIOT (5.69%), NVR Mortgage Finance, Inc. (5.96%), PENNYMAC LOAN SERVICES, LLC (6.03%), M&T Bank (6.06%) and QUICKEN LOANS, LLC (6.28%).
Chambersburg FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
CHAMBERSBURG-WAYNESBORO, PA | FRANKLIN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CHAMBERSBURG-WAYNESBORO, PA | FRANKLIN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Chambersburg (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 | $202,490 (3.5%) | $225,896 (4.0%) | 0.75 | 601 |
2018-02-01 | $199,945 (0.0%) | $225,073 (0.6%) | 0.73 | 580 |
2018-03-01 | $204,900 (2.5%) | $230,153 (1.2%) | 0.72 | 604 |
2018-04-01 | $199,900 (0.0%) | $229,332 (0.7%) | 0.68 | 663 |
2018-05-01 | $204,700 (0.2%) | $236,755 (1.7%) | 0.68 | 678 |
2018-06-01 | $206,990 (0.6%) | $239,430 (1.9%) | 0.69 | 690 |
2018-07-01 | $202,450 (-2.4%) | $241,770 (3.0%) | 0.68 | 678 |
2018-08-01 | $208,723 (-0.4%) | $244,751 (2.6%) | 0.70 | 684 |
2018-09-01 | $213,445 (3.7%) | $245,385 (4.4%) | 0.72 | 655 |
2018-10-01 | $209,923 (1.1%) | $240,188 (1.3%) | 0.71 | 653 |
2018-11-01 | $204,950 (2.5%) | $238,730 (4.0%) | 0.69 | 628 |
2018-12-01 | $202,990 (-0.9%) | $243,382 (6.4%) | 0.70 | 587 |
2019-01-01 | $200,748 (-0.9%) | $240,506 (6.5%) | 0.69 | 565 |
2019-02-01 | $214,900 (7.5%) | $240,921 (7.0%) | 0.73 | 552 |
2019-03-01 | $214,243 (4.6%) | $239,964 (4.3%) | 0.70 | 550 |
2019-04-01 | $219,950 (10.0%) | $240,321 (4.8%) | 0.70 | 533 |
2019-05-01 | $224,900 (9.9%) | $242,427 (2.4%) | 0.70 | 546 |
2019-06-01 | $219,900 (6.2%) | $240,919 (0.6%) | 0.69 | 551 |
2019-07-01 | $219,900 (8.6%) | $240,359 (-0.6%) | 0.69 | 533 |
2019-08-01 | $219,452 (5.1%) | $239,133 (-2.3%) | 0.69 | 523 |
2019-09-01 | $218,630 (2.4%) | $238,055 (-3.0%) | 0.70 | 512 |
2019-10-01 | $218,081 (3.9%) | $237,337 (-1.2%) | 0.70 | 509 |
2019-11-01 | $217,000 (5.9%) | $237,647 (-0.5%) | 0.71 | 491 |
2019-12-01 | $219,400 (8.1%) | $241,698 (-0.7%) | 0.73 | 440 |
2020-01-01 | $222,675 (10.9%) | $244,711 (1.8%) | 0.74 | 405 |
2020-02-01 | $225,495 (4.9%) | $249,651 (3.6%) | 0.74 | 394 |
2020-03-01 | $226,400 (5.7%) | $253,037 (5.5%) | 0.71 | 379 |
2020-04-01 | $229,925 (4.5%) | $263,245 (9.5%) | 0.72 | 343 |
2020-05-01 | $229,900 (2.2%) | $262,968 (8.5%) | 0.70 | 355 |
2020-06-01 | $230,173 (4.7%) | $264,338 (9.7%) | 0.68 | 328 |
2020-07-01 | $239,225 (8.8%) | $276,628 (15.1%) | 0.69 | 284 |
2020-08-01 | $239,900 (9.3%) | $283,238 (18.4%) | 0.69 | 234 |
2020-09-01 | $234,975 (7.5%) | $283,788 (19.2%) | 0.67 | 205 |
2020-10-01 | $224,900 (3.1%) | $281,537 (18.6%) | 0.64 | 213 |
2020-11-01 | $229,900 (5.9%) | $274,128 (15.4%) | 0.67 | 199 |
2020-12-01 | $228,200 (4.0%) | $280,435 (16.0%) | 0.68 | 158 |
2021-01-01 | $245,000 (10.0%) | $286,641 (17.1%) | 0.73 | 138 |
2021-02-01 | $244,900 (8.6%) | $284,241 (13.9%) | 0.71 | 131 |
2021-03-01 | $243,725 (7.7%) | $288,703 (14.1%) | 0.69 | 125 |
2021-04-01 | $241,850 (5.2%) | $285,987 (8.6%) | 0.65 | 148 |
2021-05-01 | $249,550 (8.6%) | $296,171 (12.6%) | 0.66 | 146 |
2021-06-01 | $243,550 (5.8%) | $293,014 (10.9%) | 0.64 | 183 |
2021-07-01 | $247,000 (3.3%) | $294,414 (6.4%) | 0.65 | 226 |
2021-08-01 | $232,450 (-3.1%) | $290,887 (2.7%) | 0.62 | 222 |
2021-09-01 | $234,950 (0.0%) | $281,414 (-0.8%) | 0.63 | 230 |
2021-10-01 | $239,950 (6.7%) | $283,784 (0.8%) | 0.64 | 216 |
2021-11-01 | $241,250 (4.9%) | $284,316 (3.7%) | 0.64 | 193 |
2021-12-01 | $258,745 (13.4%) | $290,171 (3.5%) | 0.70 | 178 |
2022-01-01 | $270,895 (10.6%) | $300,962 (5.0%) | 0.73 | 168 |
2022-02-01 | $269,900 (10.2%) | $302,054 (6.3%) | 0.70 | 155 |
2022-03-01 | $287,375 (17.9%) | $313,578 (8.6%) | 0.72 | 143 |
2022-04-01 | $314,999 (30.3%) | $339,107 (18.6%) | 0.75 | 154 |
2022-05-01 | $317,350 (27.2%) | $337,946 (14.1%) | 0.73 | 175 |
2022-06-01 | $325,000 (33.4%) | $344,538 (17.6%) | 0.72 | 187 |
2022-07-01 | $329,950 (33.6%) | $344,415 (17.0%) | 0.74 | 199 |
2022-08-01 | $303,125 (30.4%) | $335,588 (15.4%) | 0.70 | 224 |
2022-09-01 | $299,450 (27.5%) | $332,600 (18.2%) | 0.70 | 233 |
2022-10-01 | $289,900 (20.8%) | $352,303 (24.1%) | 0.68 | 239 |
2022-11-01 | $293,695 (21.7%) | $353,058 (24.2%) | 0.71 | 258 |
2022-12-01 | $289,900 (12.0%) | $352,258 (21.4%) | 0.72 | 228 |
2023-01-01 | $298,250 (10.1%) | $376,553 (25.1%) | 0.74 | 197 |
2023-02-01 | $310,245 (15.0%) | $392,537 (30.0%) | 0.75 | 169 |
2023-03-01 | $311,495 (8.4%) | $400,828 (27.8%) | 0.73 | 153 |
2023-04-01 | $324,900 (3.1%) | $408,313 (20.4%) | 0.76 | 174 |
2023-05-01 | $302,675 (-4.6%) | $395,969 (17.2%) | 0.69 | 176 |
2023-06-01 | $312,923 (-3.7%) | $395,667 (14.8%) | 0.70 | 187 |
2023-07-01 | $310,990 (-5.8%) | $392,409 (13.9%) | 0.71 | 196 |
2023-08-01 | $325,750 (7.5%) | $395,769 (17.9%) | 0.75 | 193 |
2023-09-01 | $325,000 (8.5%) | $394,280 (18.6%) | 0.76 | 207 |
2023-10-01 | $335,108 (15.6%) | $373,087 (5.9%) | 0.79 | 219 |
2023-11-01 | $317,675 (8.2%) | $351,675 (-0.4%) | 0.76 | 229 |
2023-12-01 | $300,000 (3.5%) | $348,178 (-1.2%) | 0.73 | 200 |
2024-01-01 | $312,500 (4.8%) | $352,978 (-6.3%) | 0.76 | 193 |
2024-02-01 | $318,950 (2.8%) | $358,262 (-8.7%) | 0.77 | 180 |
2024-03-01 | $315,000 (1.1%) | $353,718 (-11.8%) | 0.74 | 179 |
2024-04-01 | $317,445 (-2.3%) | $359,233 (-12.0%) | 0.74 | 180 |
2024-05-01 | $324,723 (7.3%) | $366,686 (-7.4%) | 0.73 | 193 |
2024-06-01 | $327,000 (4.5%) | $375,991 (-5.0%) | 0.73 | 220 |
2024-07-01 | $329,300 (5.9%) | $410,239 (4.5%) | 0.75 | 234 |
2024-08-01 | $339,990 (4.4%) | $410,760 (3.8%) | 0.79 | 251 |
2024-09-01 | $342,588 (5.4%) | $395,636 (0.3%) | 0.81 | 280 |
2024-10-01 | $349,675 (4.4%) | $392,555 (5.2%) | 0.82 | 283 |
Chambersburg's median listing price comes in at 82% of the national average.
Chambersburg's average listing price for 2024-10-01 was $392,555, a difference of $19,468 (5.2%) versus the prior year and $-3,081 versus the prior month.
For the 2024-10-01 period, Chambersburg had 283 MLS listings, a difference of 3 listings (1%) versus the prior month and 64 listings (29%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Chambersburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 90 days | 1,902 sqft |
2018-02-01 | 97 days | 1,875 sqft |
2018-03-01 | 67 days | 1,854 sqft |
2018-04-01 | 52 days | 1,800 sqft |
2018-05-01 | 59 days | 1,862 sqft |
2018-06-01 | 64 days | 1,958 sqft |
2018-07-01 | 71 days | 1,991 sqft |
2018-08-01 | 72 days | 2,005 sqft |
2018-09-01 | 73 days | 2,067 sqft |
2018-10-01 | 68 days | 2,000 sqft |
2018-11-01 | 71 days | 1,956 sqft |
2018-12-01 | 81 days | 1,928 sqft |
2019-01-01 | 89 days | 1,918 sqft |
2019-02-01 | 91 days | 1,916 sqft |
2019-03-01 | 74 days | 1,920 sqft |
2019-04-01 | 55 days | 1,931 sqft |
2019-05-01 | 56 days | 2,000 sqft |
2019-06-01 | 59 days | 2,000 sqft |
2019-07-01 | 65 days | 1,988 sqft |
2019-08-01 | 66 days | 1,990 sqft |
2019-09-01 | 66 days | 1,988 sqft |
2019-10-01 | 65 days | 1,986 sqft |
2019-11-01 | 68 days | 2,000 sqft |
2019-12-01 | 78 days | 2,037 sqft |
2020-01-01 | 83 days | 2,043 sqft |
2020-02-01 | 77 days | 2,076 sqft |
2020-03-01 | 56 days | 2,027 sqft |
2020-04-01 | 69 days | 2,067 sqft |
2020-05-01 | 80 days | 2,046 sqft |
2020-06-01 | 64 days | 1,976 sqft |
2020-07-01 | 40 days | 1,978 sqft |
2020-08-01 | 38 days | 2,000 sqft |
2020-09-01 | 36 days | 1,980 sqft |
2020-10-01 | 48 days | 1,971 sqft |
2020-11-01 | 50 days | 1,931 sqft |
2020-12-01 | 56 days | 1,865 sqft |
2021-01-01 | 59 days | 1,906 sqft |
2021-02-01 | 51 days | 1,919 sqft |
2021-03-01 | 44 days | 1,972 sqft |
2021-04-01 | 30 days | 1,919 sqft |
2021-05-01 | 33 days | 1,950 sqft |
2021-06-01 | 38 days | 1,855 sqft |
2021-07-01 | 38 days | 1,871 sqft |
2021-08-01 | 41 days | 1,842 sqft |
2021-09-01 | 41 days | 1,761 sqft |
2021-10-01 | 44 days | 1,750 sqft |
2021-11-01 | 45 days | 1,744 sqft |
2021-12-01 | 52 days | 1,759 sqft |
2022-01-01 | 65 days | 1,772 sqft |
2022-02-01 | 65 days | 1,729 sqft |
2022-03-01 | 51 days | 1,771 sqft |
2022-04-01 | 37 days | 1,840 sqft |
2022-05-01 | 39 days | 1,954 sqft |
2022-06-01 | 42 days | 1,914 sqft |
2022-07-01 | 45 days | 1,954 sqft |
2022-08-01 | 44 days | 1,927 sqft |
2022-09-01 | 48 days | 1,969 sqft |
2022-10-01 | 46 days | 1,914 sqft |
2022-11-01 | 47 days | 1,863 sqft |
2022-12-01 | 54 days | 1,822 sqft |
2023-01-01 | 73 days | 1,892 sqft |
2023-02-01 | 70 days | 1,887 sqft |
2023-03-01 | 44 days | 1,903 sqft |
2023-04-01 | 31 days | 1,950 sqft |
2023-05-01 | 33 days | 1,930 sqft |
2023-06-01 | 40 days | 1,924 sqft |
2023-07-01 | 35 days | 1,972 sqft |
2023-08-01 | 33 days | 1,945 sqft |
2023-09-01 | 37 days | 1,943 sqft |
2023-10-01 | 43 days | 1,922 sqft |
2023-11-01 | 48 days | 1,903 sqft |
2023-12-01 | 56 days | 1,900 sqft |
2024-01-01 | 54 days | 1,902 sqft |
2024-02-01 | 42 days | 1,900 sqft |
2024-03-01 | 33 days | 1,900 sqft |
2024-04-01 | 35 days | 1,882 sqft |
2024-05-01 | 30 days | 1,958 sqft |
2024-06-01 | 34 days | 1,953 sqft |
2024-07-01 | 39 days | 1,993 sqft |
2024-08-01 | 40 days | 1,964 sqft |
2024-09-01 | 39 days | 1,980 sqft |
2024-10-01 | 45 days | 2,019 sqft |
Chambersburg's median square footage for active listings during the 2024-10-01 period was 2,019 sqft. One year prior, the average listing was 1,922 sqft.