East Stroudsburg FHA Loan Rates, Closing Costs & Stats

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 114 lenders originated 640 FHA loans during 2023. The total origination value was $159,890,000, with an average FHA loan value of $249,828.

East Stroudsburg FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in East Stroudsburg averaged 7.18% for the week of 2024-06-14, compared to the national average (all FHA variants) of 6.712% for the same period.

East Stroudsburg's average FHA mortgage closing costs are $8,747.

The average rate for the prior week (2024-06-07) was 6.77% and one month ago for the week of 2024-05-10, the average rate was 7.05%.

The average rate one year ago was 7.11%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.63%.

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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the East Stroudsburg level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 115 6.21% $11,547
UNITED WHOLESALE MORTGAGE, LLC 44 6.21% $14,339
CROSSCOUNTRY MORTGAGE, LLC 42 6.86% $13,064
MOVEMENT MORTGAGE, LLC 23 6.96% $12,788
LOANDEPOT.COM, LLC 17 6.19% $14,567
PENNYMAC LOAN SERVICES, LLC 16 6.07% $16,044
NEWREZ LLC 15 6.42% $17,265
UNION HOME MORTGAGE CORP. 13 6.97% $11,305
Paramount Residential Mortgage Group, Inc. 13 6.77% $14,402
Acre Mortgage and Financial Inc 11 7.25% $16,531
GUILD MORTGAGE COMPANY 10 6.43% $12,910
FREEDOM MORTGAGE CORPORATION 10 6.64% $15,238
Prosperity Home Mortgage, LLC 10 6.44% $10,760
CMG MORTGAGE, INC. 8 7.00% $10,357
Ixonia Bank 8 6.94% $13,218
BROKER SOLUTIONS, INC. 8 6.91% $12,304
GUARANTEED RATE, INC. 7 6.67% $11,412
AMERISAVE MORTGAGE CORPORATION 6 6.27% $15,800
Flagstar Bank, FSB 6 6.58% $10,465
Mr. Cooper ( Nationstar Mortgage ) 6 5.73% $16,333
Carrington Mortgage Services, LLC 6 6.04% $13,689
CARDINAL FINANCIAL 6 6.65% $16,442
MUTUAL OF OMAHA MORTGAGE, INC. 6 6.58% $12,245
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.71% $12,621
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 6.92% $13,148
Bank of England 5 6.63% $12,957
Semper Home Loans, Inc. 5 6.88% $18,004
RELIANCE FIRST CAPITAL, LLC 5 6.63% $14,150
PLAZA HOME MORTGAGE, INC. 5 6.78% $11,239
LAKEVIEW LOAN SERVICING, LLC 5 6.63% $12,699
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 6.83% $13,347
NATIONWIDE MORTGAGE BANKERS, INC. 5 7.15% $12,078
VILLAGE CAPITAL MORTGAGE 4 6.53% $8,887
PARAGON HOME LOANS INC. 4 6.84% $8,886
PLANET HOME LENDING, LLC 4 6.44% $12,367
GREENTREE MORTGAGE COMPANY, L.P. 4 6.63% $12,864
SUCCESS MORTGAGE PARTNERS, INC. 4 6.72% $8,705
HOMESIDE FINANCIAL, LLC 4 6.81% $14,784
Citizens Bank 4 6.63% $9,932
AMERICAN FINANCIAL NETWORK, INC. 4 7.38% $14,357
Keystone Funding, Inc. 3 7.00% $17,712
Northpointe Bank 3 6.50% $8,800
Century Mortgage Company DBA Century Lending Company 3 6.46% $12,748
ABSOLUTE HOME MORTGAGE CORPORATION 3 6.38% $12,863
RESIDENTIAL HOME FUNDING CORP. 3 7.33% $14,060
Wells Fargo Bank 3 6.67% $8,342
ZILLOW HOME LOANS, LLC 3 5.79% $12,853
UNITED NORTHERN MORTGAGE BANKERS LIMITED 3 6.92% $15,563
MORTGAGE ACCESS CORP. 3 6.92% $14,732
T2 FINANCIAL LLC 3 6.38% $9,169
TOP FLITE FINANCIAL, INC. 3 7.00% $14,843
MLB RESIDENTIAL LENDING, LLC 2 6.94% $12,537
TD Bank 2 6.44% $10,374
ROYAL UNITED MORTGAGE LLC 2 6.81% $16,597
ALLIED MORTGAGE GROUP, INC. 2 5.75% $16,876
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.13% $16,760
Mortgage America, Inc. 2 6.56% $8,042
FIRST ALLIANCE HOME MORTGAGE, LLC 2 6.63% $16,972
EMM LOANS LLC 2 6.94% $17,360
EVERETT FINANCIAL, INC. 2 6.38% $13,877
Equity Prime Mortgage LLC 2 6.31% $14,976
M&T Bank 2 5.88% $7,800
EMBRACE HOME LOANS, INC. 2 6.69% $13,112
NFM, INC. 1 6.88% $12,257
Advisors Mortgage Group, L.L.C. 1 6.75% $9,741
AmeriHome Mortgage Company, LLC 1 6.25% $10,056
AmRes Corporation 1 6.75% $14,342
ARC HOME LLC 1 5.63% $14,525
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $8,109
Barrington Bank & Trust Company, N.A. 1 6.25% $4,783
BAYSHORE MORTGAGE FUNDING, LLC 1 7.49% $22,481
BECKAM FUNDING CORP. 1 7.25% $16,413
BOND STREET MORTGAGE, LLC 1 5.99% $17,397
Byline Bank 1 5.88% $9,385
Cornerstone First Mortgage, Inc 1 6.88% $12,359
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 7.13% $8,387
DRAPER AND KRAMER MORTGAGE CORP. 1 6.63% $15,308
ENVOY MORTGAGE, LTD 1 7.25% $8,627
Fifth Third Bank 1 5.88% $12,131
First Option Mortgage, LLC 1 7.75% $15,013
Gateway First Bank 1 7.75% $15,563
GSF Mortgage Corporation 1 6.25% $9,176
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $16,216
JPMorgan Chase Bank 1 7.00% $7,261
LADERA LENDING, INC. 1 5.63% $18,930
LENDING CAPITAL GROUP Inc 1 6.50% $13,921
LOANPAL, LLC 1 5.25% $18,615
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.63% $17,634
Meridian Bank Corporation 1 6.75% $8,918
MICHIGAN MUTUAL, INC. 1 5.38% $17,083
MID-ISLAND MORTGAGE CORP. 1 5.63% $12,761
MILEND, INC. 1 5.50% $18,444
Mortgage Research Center, LLC 1 6.13% $6,681
NETWORK CAPITAL FUNDING CORPORATION 1 6.25% $12,719
1ST 2ND MORTGAGE COMPANY OF N.J., INC. 1 7.25% $11,759
NJ LENDERS CORP. 1 6.13% $18,495
NORWICH COMMERCIAL GROUP, INC. 1 6.25% $16,947
PANORAMA MORTGAGE GROUP, LLC 1 7.25% $21,257
PENTAGON FEDERAL CREDIT UNION 1 5.38% $9,892
PHH Mortgage Corporation 1 7.13% $11,101
Plains Commerce Bank 1 7.13% $3,710
PNC Bank 1 5.75% $7,783
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $12,862
Princeton Mortgage Corporation 1 6.50% $14,971
RESIDENTIAL BANCORP 1 7.49% $6,378
RESIDENTIAL HOME MORTGAGE CORPORATION 1 6.13% $13,784
RUOFF MORTGAGE COMPANY, INC. 1 5.25% $10,587
SUMMIT FUNDING, INC. 1 6.25% $14,783
Summit Mortgage Corporation 1 6.25% $17,375
SWBC MORTGAGE CORPORATION 1 6.63% $16,191
TOTAL MORTGAGE SERVICES, LLC 1 7.00% $6,896
TOWNE MORTGAGE COMPANY 1 6.25% $14,398
U.S. Bank 1 6.63% $7,783
US MORTGAGE CORPORATION 1 6.63% $19,410

The top East Stroudsburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 115 FHA loans originated. Their average total fees are $11,547, which is $2,791 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee East Stroudsburg FHA lenders (with over 10 loans originated) are Prosperity Home Mortgage, LLC ($10,760), UNION HOME MORTGAGE CORP. ($11,305), QUICKEN LOANS, LLC ($11,547), MOVEMENT MORTGAGE, LLC ($12,788) and GUILD MORTGAGE COMPANY ($12,910).

The lowest rate East Stroudsburg FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (6.07%), LOANDEPOT.COM, LLC (6.19%), UNITED WHOLESALE MORTGAGE, LLC (6.21%), QUICKEN LOANS, LLC (6.21%) and NEWREZ LLC (6.42%).

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
EAST STROUDSBURG, PA MONROE 2023 $472,030 $604,400 $730,525 $907,900

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 $159,928 (1.0%) $200,111 (3.9%) 0.59 1,448
2018-02-01 $159,907 (0.1%) $201,246 (3.3%) 0.58 1,351
2018-03-01 $163,700 (2.4%) $204,538 (2.7%) 0.57 1,338
2018-04-01 $168,000 (1.9%) $206,632 (1.4%) 0.57 1,384
2018-05-01 $169,100 (1.9%) $206,021 (0.4%) 0.56 1,506
2018-06-01 $168,400 (-0.4%) $206,782 (1.1%) 0.56 1,607
2018-07-01 $171,525 (1.5%) $209,909 (2.1%) 0.57 1,682
2018-08-01 $171,375 (0.9%) $209,341 (1.8%) 0.57 1,719
2018-09-01 $172,350 (1.7%) $211,525 (3.9%) 0.58 1,677
2018-10-01 $176,450 (4.2%) $215,452 (5.2%) 0.60 1,601
2018-11-01 $179,450 (7.5%) $215,614 (6.5%) 0.61 1,517
2018-12-01 $175,000 (6.7%) $211,818 (5.1%) 0.60 1,399
2019-01-01 $173,738 (8.6%) $208,110 (4.0%) 0.60 1,274
2019-02-01 $177,000 (10.7%) $213,512 (6.1%) 0.60 1,227
2019-03-01 $178,743 (9.2%) $215,817 (5.5%) 0.58 1,231
2019-04-01 $178,743 (6.4%) $216,886 (5.0%) 0.57 1,294
2019-05-01 $179,900 (6.4%) $218,785 (6.2%) 0.56 1,403
2019-06-01 $179,900 (6.8%) $218,287 (5.6%) 0.56 1,579
2019-07-01 $179,900 (4.9%) $216,557 (3.2%) 0.56 1,656
2019-08-01 $181,311 (5.8%) $218,458 (4.4%) 0.57 1,665
2019-09-01 $183,386 (6.4%) $218,148 (3.1%) 0.59 1,653
2019-10-01 $185,450 (5.1%) $217,162 (0.8%) 0.60 1,623
2019-11-01 $189,000 (5.3%) $223,439 (3.6%) 0.62 1,449
2019-12-01 $185,450 (6.0%) $221,950 (4.8%) 0.62 1,290
2020-01-01 $185,950 (7.0%) $224,762 (8.0%) 0.62 1,185
2020-02-01 $189,900 (7.3%) $230,631 (8.0%) 0.62 1,105
2020-03-01 $195,000 (9.1%) $232,634 (7.8%) 0.61 1,086
2020-04-01 $199,000 (11.3%) $236,277 (8.9%) 0.62 1,010
2020-05-01 $199,900 (11.1%) $237,040 (8.3%) 0.61 1,015
2020-06-01 $211,750 (17.7%) $247,107 (13.2%) 0.62 965
2020-07-01 $219,450 (22.0%) $257,046 (18.7%) 0.64 801
2020-08-01 $225,000 (24.1%) $277,035 (26.8%) 0.64 679
2020-09-01 $229,900 (25.4%) $290,474 (33.2%) 0.66 621
2020-10-01 $239,999 (29.4%) $295,459 (36.1%) 0.69 600
2020-11-01 $242,725 (28.4%) $299,886 (34.2%) 0.71 588
2020-12-01 $252,246 (36.0%) $310,207 (39.8%) 0.75 549
2021-01-01 $265,000 (42.5%) $336,217 (49.6%) 0.79 434
2021-02-01 $279,000 (46.9%) $350,224 (51.9%) 0.81 368
2021-03-01 $279,000 (43.1%) $349,643 (50.3%) 0.79 367
2021-04-01 $279,450 (40.4%) $346,233 (46.5%) 0.76 414
2021-05-01 $279,000 (39.6%) $334,679 (41.2%) 0.74 502
2021-06-01 $279,950 (32.2%) $341,498 (38.2%) 0.74 576
2021-07-01 $289,900 (32.1%) $355,062 (38.1%) 0.76 690
2021-08-01 $289,900 (28.8%) $362,501 (30.9%) 0.77 738
2021-09-01 $297,000 (29.2%) $373,849 (28.7%) 0.79 712
2021-10-01 $295,000 (22.9%) $375,033 (26.9%) 0.79 665
2021-11-01 $298,700 (23.1%) $376,147 (25.4%) 0.80 591
2021-12-01 $299,900 (18.9%) $396,548 (27.8%) 0.81 491
2022-01-01 $319,950 (20.7%) $415,145 (23.5%) 0.87 408
2022-02-01 $324,975 (16.5%) $426,615 (21.8%) 0.85 348
2022-03-01 $325,000 (16.5%) $416,897 (19.2%) 0.81 366
2022-04-01 $335,000 (19.9%) $405,225 (17.0%) 0.80 438
2022-05-01 $349,950 (25.4%) $402,600 (20.3%) 0.80 563
2022-06-01 $349,900 (25.0%) $399,767 (17.1%) 0.78 690
2022-07-01 $349,900 (20.7%) $406,466 (14.5%) 0.79 842
2022-08-01 $349,900 (20.7%) $400,596 (10.5%) 0.81 846
2022-09-01 $348,750 (17.4%) $397,808 (6.4%) 0.82 858
2022-10-01 $348,000 (18.0%) $393,578 (4.9%) 0.82 833
2022-11-01 $336,125 (12.5%) $399,085 (6.1%) 0.81 779
2022-12-01 $330,000 (10.0%) $395,769 (-0.2%) 0.81 726
2023-01-01 $329,950 (3.1%) $395,679 (-4.7%) 0.82 643
2023-02-01 $330,000 (1.6%) $398,376 (-6.6%) 0.80 596
2023-03-01 $341,625 (5.1%) $404,447 (-3.0%) 0.81 557
2023-04-01 $350,000 (4.5%) $418,694 (3.3%) 0.81 577
2023-05-01 $350,000 (0.0%) $422,976 (5.1%) 0.79 629
2023-06-01 $353,750 (1.1%) $416,735 (4.2%) 0.79 697
2023-07-01 $359,000 (2.6%) $413,882 (1.8%) 0.82 762
2023-08-01 $359,498 (2.7%) $424,797 (6.0%) 0.83 776
2023-09-01 $359,900 (3.2%) $424,013 (6.6%) 0.84 819
2023-10-01 $355,000 (2.0%) $418,575 (6.4%) 0.84 829
2023-11-01 $350,000 (4.1%) $417,793 (4.7%) 0.83 821
2023-12-01 $350,000 (6.1%) $416,332 (5.2%) 0.85 766
2024-01-01 $349,975 (6.1%) $412,851 (4.3%) 0.85 723
2024-02-01 $349,900 (6.0%) $408,065 (2.4%) 0.84 693
2024-03-01 $349,000 (2.2%) $399,814 (-1.2%) 0.82 662
2024-04-01 $349,900 (0.0%) $401,727 (-4.1%) 0.81 748
2024-05-01 $354,500 (1.3%) $411,607 (-2.7%) 0.80 816
East Stroudsburg's median listing price for 2024-05-01 was $354,500, a difference of $4,500 (1.3%) versus the prior year and $4,600 versus the prior month.

East Stroudsburg's median listing price comes in at 80% of the national average.

East Stroudsburg's average listing price for 2024-05-01 was $411,607, a difference of $-11,369 (-2.7%) versus the prior year and $9,880 versus the prior month.

For the 2024-05-01 period, East Stroudsburg had 816 MLS listings, a difference of 68 listings (9%) versus the prior month and 187 listings (30%) 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
2018-01-01 106 days 1,801 sqft
2018-02-01 109 days 1,792 sqft
2018-03-01 100 days 1,789 sqft
2018-04-01 76 days 1,820 sqft
2018-05-01 62 days 1,828 sqft
2018-06-01 66 days 1,820 sqft
2018-07-01 67 days 1,825 sqft
2018-08-01 72 days 1,820 sqft
2018-09-01 83 days 1,836 sqft
2018-10-01 92 days 1,848 sqft
2018-11-01 95 days 1,860 sqft
2018-12-01 105 days 1,838 sqft
2019-01-01 106 days 1,809 sqft
2019-02-01 109 days 1,831 sqft
2019-03-01 94 days 1,835 sqft
2019-04-01 72 days 1,845 sqft
2019-05-01 64 days 1,880 sqft
2019-06-01 61 days 1,875 sqft
2019-07-01 68 days 1,883 sqft
2019-08-01 75 days 1,893 sqft
2019-09-01 82 days 1,897 sqft
2019-10-01 88 days 1,900 sqft
2019-11-01 92 days 1,896 sqft
2019-12-01 100 days 1,874 sqft
2020-01-01 107 days 1,879 sqft
2020-02-01 110 days 1,887 sqft
2020-03-01 91 days 1,889 sqft
2020-04-01 100 days 1,900 sqft
2020-05-01 109 days 1,900 sqft
2020-06-01 101 days 1,940 sqft
2020-07-01 66 days 1,944 sqft
2020-08-01 64 days 1,973 sqft
2020-09-01 54 days 2,019 sqft
2020-10-01 51 days 1,928 sqft
2020-11-01 53 days 1,903 sqft
2020-12-01 68 days 1,950 sqft
2021-01-01 82 days 2,002 sqft
2021-02-01 79 days 2,040 sqft
2021-03-01 65 days 2,019 sqft
2021-04-01 40 days 1,966 sqft
2021-05-01 33 days 1,933 sqft
2021-06-01 38 days 1,918 sqft
2021-07-01 37 days 1,910 sqft
2021-08-01 45 days 1,988 sqft
2021-09-01 52 days 1,979 sqft
2021-10-01 64 days 1,927 sqft
2021-11-01 73 days 1,948 sqft
2021-12-01 89 days 1,924 sqft
2022-01-01 85 days 1,996 sqft
2022-02-01 73 days 1,968 sqft
2022-03-01 39 days 1,952 sqft
2022-04-01 33 days 1,920 sqft
2022-05-01 32 days 1,910 sqft
2022-06-01 35 days 1,967 sqft
2022-07-01 39 days 1,962 sqft
2022-08-01 49 days 1,960 sqft
2022-09-01 58 days 1,959 sqft
2022-10-01 64 days 1,972 sqft
2022-11-01 70 days 1,974 sqft
2022-12-01 80 days 1,972 sqft
2023-01-01 79 days 1,926 sqft
2023-02-01 72 days 1,871 sqft
2023-03-01 63 days 1,881 sqft
2023-04-01 55 days 1,905 sqft
2023-05-01 48 days 1,865 sqft
2023-06-01 49 days 1,872 sqft
2023-07-01 50 days 1,901 sqft
2023-08-01 54 days 1,934 sqft
2023-09-01 57 days 1,950 sqft
2023-10-01 58 days 1,930 sqft
2023-11-01 62 days 1,924 sqft
2023-12-01 74 days 1,920 sqft
2024-01-01 79 days 1,908 sqft
2024-02-01 74 days 1,902 sqft
2024-03-01 64 days 1,873 sqft
2024-04-01 54 days 1,913 sqft
2024-05-01 51 days 1,925 sqft
East Stroudsburg's median listing age (time on market) for 2024-05-01 was 51 days. This is 7% longer than the same period one year ago.

East Stroudsburg's median square footage for active listings during the 2024-05-01 period was 1,925 sqft. One year prior, the average listing was 1,865 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).