East Stroudsburg FHA Loans

EAST STROUDSBURG, 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.

East Stroudsburg's 122 lenders originated 1,195 FHA loans during 2021. The total origination value was $241,035,000, with an average FHA loan value of $201,703.

East Stroudsburg FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in East Stroudsburg averaged 5.2% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

The average rate for the prior week (2022-05-06) was 5.44% and one month ago for the week of 2022-04-08, the average rate was 4.9%.

The average rate one year ago was 3.01%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.15%.

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

East Stroudsburg 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 East Stroudsburg level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 191 2.82% $7,181
CROSSCOUNTRY MORTGAGE, LLC 68 3.16% $10,033
NEWREZ LLC 42 3.01% $7,941
CALIBER HOME LOANS, INC. 39 2.85% $7,391
Atlantic Home Loans, Inc. 37 3.17% $7,890
LAKEVIEW LOAN SERVICING, LLC 34 3.13% $5,719
FREEDOM MORTGAGE CORPORATION 27 2.80% $5,521
Mr. Cooper ( Nationstar Mortgage ) 26 3.31% $3,792
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 22 3.35% $9,156
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 21 3.11% $9,292
LOANDEPOT.COM, LLC 20 3.18% $8,280
HOMESIDE FINANCIAL, LLC 20 3.24% $8,667
MOVEMENT MORTGAGE, LLC 19 3.09% $6,757
FINANCE OF AMERICA MORTGAGE LLC 17 3.15% $8,537
Lakeview Community Capital, LLC 16 3.18% $5,724
PENNYMAC LOAN SERVICES, LLC 16 3.03% $5,509
Paramount Residential Mortgage Group, Inc. 15 3.39% $8,688
VILLAGE CAPITAL & INVESTMENT LLC 15 2.69% $3,210
BROKER SOLUTIONS, INC. 15 3.30% $9,139
STEARNS LENDING, LLC 15 2.95% $8,734
RESIDENTIAL HOME FUNDING CORP. 14 3.25% $9,075
AMERICAN FINANCIAL NETWORK, INC. 13 3.34% $16,638
Carrington Mortgage Services, LLC 13 3.23% $7,824
Hometown Lenders, Inc. 12 3.18% $8,823
Acre Mortgage and Financial Inc 11 3.81% $12,449
SWBC MORTGAGE CORPORATION 11 3.38% $6,350
Prosperity Home Mortgage, LLC 10 3.03% $8,459
HOME POINT FINANCIAL CORPORATION 10 2.95% $8,040
GUARANTEED RATE, INC. 10 3.11% $8,392
NJ LENDERS CORP. 8 2.99% $8,815
NATIONWIDE MORTGAGE BANKERS, INC. 8 3.30% $10,708
ABSOLUTE HOME MORTGAGE CORPORATION 8 3.33% $9,641
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 8 3.13% $9,008
UNITED WHOLESALE MORTGAGE, LLC 8 2.74% $11,721
EVERETT FINANCIAL, INC. 8 3.81% $7,011
AMERISAVE MORTGAGE CORPORATION 7 2.93% $9,347
AmeriHome Mortgage Company, LLC 7 2.84% $5,766
CONTOUR MORTGAGE CORPORATION 6 3.13% $9,376
FAMILY FIRST FUNDING LLC 6 3.17% $8,455
Mortgage America, Inc. 6 3.19% $7,782
PLANET HOME LENDING, LLC 5 2.68% $5,188
ALLIED MORTGAGE GROUP, INC. 5 3.20% $10,496
MORTGAGE ACCESS CORP. 5 3.25% $9,582
UNITED MORTGAGE CORP. 5 3.10% $11,399
EMBRACE HOME LOANS, INC. 5 3.32% $8,124
InterContinental Capital Group, Inc 5 2.70% $9,181
First Guaranty Mortgage Corporation 5 3.08% $6,144
Summit Mortgage Corporation 4 2.75% $8,592
Equity Prime Mortgage LLC 4 3.16% $10,111
Manufacturers and Traders Trust Company 4 2.88% $7,943
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 4.46% $10,412
TOP FLITE FINANCIAL, INC. 3 3.54% $10,685
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 3.29% $7,971
FIRST ALLIANCE HOME MORTGAGE, LLC 3 3.21% $10,811
Mortgage Research Center, LLC 3 3.08% $6,204
RESIDENTIAL HOME MORTGAGE CORPORATION 3 3.21% $6,597
RESIDENTIAL MORTGAGE SERVICES, INC. 3 2.79% $7,112
RELIANCE FIRST CAPITAL, LLC 3 2.88% $12,677
MLB RESIDENTIAL LENDING, LLC 3 3.33% $8,865
ZILLOW HOME LOANS, LLC 2 3.25% $6,909
AMERICAN FINANCING CORPORATION 2 2.63% $9,320
Bank of England 2 2.81% $9,690
Barrington Bank & Trust Company, N.A. 2 3.63% $8,325
BAYSHORE MORTGAGE FUNDING, LLC 2 3.38% $9,248
Century Mortgage Company DBA Century Lending Company 2 2.88% $11,149
Citizens Bank 2 2.94% $8,069
EMM LOANS LLC 2 3.50% $11,806
FIRST HERITAGE FINANCIAL, LLC 2 3.00% $6,404
GENEVA FINANCIAL, LLC 2 3.31% $5,790
JPMorgan Chase Bank 2 2.88% $7,575
Meridian Bank Corporation 2 3.38% $6,665
MID AMERICA MORTGAGE, INC. 2 3.18% $8,027
MUTUAL OF OMAHA MORTGAGE, INC. 2 2.69% $10,604
Nations Lending Corporation 2 3.00% $8,611
OCEANSIDE MORTGAGE COMPANY 2 2.49% $3,410
PNC Bank 2 3.19% $6,791
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.19% $8,938
SUN WEST MORTGAGE COMPANY, INC. 2 3.43% $10,220
Victorian Finance, LLC 2 3.31% $9,143
MEMBERS 1ST FEDERAL CREDIT UNION 1 3.13% $7,514
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 2.88% $16,082
Magnolia Bank 1 2.99% $7,942
Alcova Mortgage LLC 1 3.50% $2,771
PANORAMA MORTGAGE GROUP, LLC 1 2.63% $9,825
JET DIRECT FUNDING CORP 1 2.88% $15,941
JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 1 2.63% $6,803
Peoples Bank 1 3.63% $6,655
PHH Mortgage Corporation 1 2.75% $11,119
Plains Commerce Bank 1 2.38% $12,786
HOWARD HANNA FINANCIAL SERVICES, INC. 1 3.00% $7,178
Unity Bank 1 3.00% $10,416
Premium Mortgage Corporation 1 2.38% $4,461
Hometown Equity Mortgage, LLC 1 2.75% $14,971
1st Constitution Bank 1 2.63% $12,263
GSF Mortgage Corporation 1 3.75% $7,320
Quaint Oak Mortgage, LLC 1 3.50% $9,114
GREENTREE MORTGAGE COMPANY, L.P. 1 2.88% $10,726
Quontic Bank 1 3.63% $11,387
First Home Bank 1 3.50% $7,826
ENVOY MORTGAGE, LTD 1 3.13% $6,544
East Coast Capital Corp. 1 2.50% $9,162
DEVELOPER'S MORTGAGE COMPANY 1 3.25% $10,341
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.25% $4,530
Sierra Pacific Mortgage Company, Inc. 1 3.00% $8,638
SOUTHWEST STAGE FUNDING, LLC 1 2.88% $4,372
SOVEREIGN LENDING GROUP INCORPORATED 1 2.25% $8,501
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 2.75% $8,522
CLIFFCO, INC. 1 3.25% $7,406
Advisors Mortgage Group, L.L.C. 1 2.75% $7,949
BNC National Bank 1 2.88% $11,587
T2 FINANCIAL LLC 1 3.75% $9,816
APEX HOME LOANS, INC. 1 3.75% $8,858
TOTAL MORTGAGE SERVICES, LLC 1 3.25% $21,776
TruHome Solutions, LLC 1 2.63% $8,521
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.50% $11,466
MORIA DEVELOPMENT, INC. 1 3.50% $10,404
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 4.25% $20,300
Mortgage Unlimited, L.L.C. 1 3.00% $7,105
MLD MORTGAGE INC. 1 2.25% $6,276
MICHIGAN MUTUAL, INC. 1 2.88% $9,709
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 3.00% $10,549
UNITED SECURITY FINANCIAL CORP 1 2.50% $6,877

The top East Stroudsburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 191 FHA loans originated. Their average total fees are $7,181, which is $2,852 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee East Stroudsburg FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($3,210), Mr. Cooper ( Nationstar Mortgage ) ($3,792), PENNYMAC LOAN SERVICES, LLC ($5,509), FREEDOM MORTGAGE CORPORATION ($5,521) and LAKEVIEW LOAN SERVICING, LLC ($5,719).

The lowest rate East Stroudsburg FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC (2.69%), FREEDOM MORTGAGE CORPORATION (2.80%), QUICKEN LOANS, LLC (2.82%), CALIBER HOME LOANS, INC. (2.85%) and STEARNS LENDING, LLC (2.95%).

East Stroudsburg FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
EAST STROUDSBURG, PA MONROE 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - East Stroudsburg (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 $161,250 (1.4%) $201,585 (2.4%) 0.59 1,575
2018-02-01 $164,450 (2.9%) $202,699 (1.0%) 0.59 1,455
2018-03-01 $169,000 (3.5%) $208,077 (1.2%) 0.58 1,438
2018-04-01 $169,947 (1.8%) $211,957 (1.4%) 0.57 1,479
2018-05-01 $172,000 (1.8%) $211,856 (1.4%) 0.57 1,630
2018-06-01 $172,900 (1.8%) $213,070 (3.0%) 0.58 1,734
2018-07-01 $178,444 (5.0%) $213,748 (2.7%) 0.60 1,823
2018-08-01 $178,944 (5.3%) $212,587 (2.0%) 0.60 1,888
2018-09-01 $179,000 (5.4%) $214,015 (3.6%) 0.60 1,864
2018-10-01 $179,900 (5.9%) $216,288 (4.2%) 0.60 1,765
2018-11-01 $179,900 (6.2%) $216,383 (5.1%) 0.60 1,669
2018-12-01 $179,900 (9.1%) $212,766 (4.9%) 0.62 1,545
2019-01-01 $174,950 (8.5%) $209,964 (4.2%) 0.60 1,396
2019-02-01 $179,900 (9.4%) $214,362 (5.8%) 0.60 1,329
2019-03-01 $179,900 (6.5%) $216,539 (4.1%) 0.59 1,337
2019-04-01 $179,900 (5.9%) $217,384 (2.6%) 0.57 1,415
2019-05-01 $179,900 (4.6%) $219,519 (3.6%) 0.55 1,518
2019-06-01 $179,900 (4.1%) $220,048 (3.3%) 0.55 1,714
2019-07-01 $185,000 (3.7%) $220,991 (3.4%) 0.57 1,816
2019-08-01 $189,000 (5.6%) $222,742 (4.8%) 0.59 1,820
2019-09-01 $189,000 (5.6%) $220,771 (3.2%) 0.60 1,812
2019-10-01 $189,900 (5.6%) $220,255 (1.8%) 0.61 1,783
2019-11-01 $190,000 (5.6%) $224,782 (3.9%) 0.61 1,601
2019-12-01 $189,000 (5.1%) $221,702 (4.2%) 0.63 1,438
2020-01-01 $189,000 (8.0%) $224,105 (6.7%) 0.63 1,327
2020-02-01 $199,000 (10.6%) $233,534 (8.9%) 0.64 1,231
2020-03-01 $199,850 (11.1%) $235,793 (8.9%) 0.62 1,187
2020-04-01 $206,250 (14.7%) $241,832 (11.3%) 0.64 1,106
2020-05-01 $204,900 (13.9%) $239,241 (9.0%) 0.62 1,118
2020-06-01 $217,400 (20.8%) $246,367 (12.0%) 0.63 1,031
2020-07-01 $219,950 (18.9%) $255,753 (15.7%) 0.63 839
2020-08-01 $229,000 (21.2%) $275,987 (23.9%) 0.65 707
2020-09-01 $239,000 (26.5%) $294,536 (33.4%) 0.68 651
2020-10-01 $245,000 (29.0%) $298,180 (35.4%) 0.70 629
2020-11-01 $249,900 (31.5%) $303,479 (35.0%) 0.72 621
2020-12-01 $258,500 (36.8%) $307,766 (38.8%) 0.76 584
2021-01-01 $272,000 (43.9%) $340,074 (51.8%) 0.80 481
2021-02-01 $279,950 (40.7%) $354,750 (51.9%) 0.81 413
2021-03-01 $279,950 (40.1%) $350,321 (48.6%) 0.78 414
2021-04-01 $279,500 (35.5%) $346,875 (43.4%) 0.75 466
2021-05-01 $279,000 (36.2%) $327,670 (37.0%) 0.73 555
2021-06-01 $279,500 (28.6%) $335,681 (36.3%) 0.73 651
2021-07-01 $283,650 (29.0%) $347,761 (36.0%) 0.74 744
2021-08-01 $287,450 (25.5%) $360,876 (30.8%) 0.76 820
2021-09-01 $297,000 (24.3%) $371,758 (26.2%) 0.78 804
2021-10-01 $298,800 (22.0%) $374,482 (25.6%) 0.79 752
2021-11-01 $299,450 (19.8%) $378,659 (24.8%) 0.79 666
2021-12-01 $299,900 (16.0%) $394,323 (28.1%) 0.80 565
2022-01-01 $304,900 (12.1%) $412,765 (21.4%) 0.81 465
2022-02-01 $319,000 (14.0%) $423,449 (19.4%) 0.81 400
2022-03-01 $322,450 (15.2%) $416,786 (19.0%) 0.80 418
2022-04-01 $330,000 (18.1%) $407,486 (17.5%) 0.78 486
East Stroudsburg's median listing price for 2022-04-01 was $330,000, a difference of $50,500 (18.1%) versus the prior year and $7,550 versus the prior month.

East Stroudsburg's median listing price comes in at 78% of the national average.

East Stroudsburg's average listing price for 2022-04-01 was $407,486, a difference of $60,611 (17.5%) versus the prior year and $-9,300 versus the prior month.

For the 2022-04-01 period, East Stroudsburg had 486 MLS listings, a difference of 68 listings (16%) versus the prior month and 20 listings (4%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - East Stroudsburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 121 days 1,798 sqft
2018-02-01 129 days 1,794 sqft
2018-03-01 127 days 1,800 sqft
2018-04-01 110 days 1,837 sqft
2018-05-01 83 days 1,842 sqft
2018-06-01 78 days 1,828 sqft
2018-07-01 75 days 1,839 sqft
2018-08-01 78 days 1,827 sqft
2018-09-01 89 days 1,836 sqft
2018-10-01 96 days 1,851 sqft
2018-11-01 102 days 1,868 sqft
2018-12-01 114 days 1,841 sqft
2019-01-01 112 days 1,808 sqft
2019-02-01 116 days 1,842 sqft
2019-03-01 106 days 1,834 sqft
2019-04-01 77 days 1,832 sqft
2019-05-01 66 days 1,884 sqft
2019-06-01 62 days 1,883 sqft
2019-07-01 69 days 1,902 sqft
2019-08-01 78 days 1,902 sqft
2019-09-01 87 days 1,899 sqft
2019-10-01 87 days 1,919 sqft
2019-11-01 90 days 1,900 sqft
2019-12-01 99 days 1,877 sqft
2020-01-01 105 days 1,884 sqft
2020-02-01 108 days 1,872 sqft
2020-03-01 87 days 1,873 sqft
2020-04-01 96 days 1,885 sqft
2020-05-01 112 days 1,882 sqft
2020-06-01 105 days 1,924 sqft
2020-07-01 64 days 1,916 sqft
2020-08-01 56 days 1,974 sqft
2020-09-01 47 days 2,033 sqft
2020-10-01 43 days 1,930 sqft
2020-11-01 43 days 1,903 sqft
2020-12-01 59 days 1,946 sqft
2021-01-01 65 days 2,020 sqft
2021-02-01 63 days 2,041 sqft
2021-03-01 48 days 2,000 sqft
2021-04-01 35 days 1,948 sqft
2021-05-01 35 days 1,930 sqft
2021-06-01 38 days 1,912 sqft
2021-07-01 38 days 1,897 sqft
2021-08-01 43 days 1,954 sqft
2021-09-01 48 days 2,014 sqft
2021-10-01 57 days 1,986 sqft
2021-11-01 64 days 1,999 sqft
2021-12-01 71 days 1,981 sqft
2022-01-01 71 days 2,012 sqft
2022-02-01 60 days 1,997 sqft
2022-03-01 42 days 1,982 sqft
2022-04-01 34 days 1,936 sqft
East Stroudsburg's median listing age (time on market) for 2022-04-01 was 34 days. This is -1% shorter than the same period one year ago.

East Stroudsburg's median square footage for active listings during the 2022-04-01 period was 1,936 sqft. One year prior, the average listing was 1,948 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).