Harrisburg FHA Loans

HARRISBURG-CARLISLE, 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.

Harrisburg's 127 lenders originated 2,053 FHA loans during 2021. The total origination value was $367,755,000, with an average FHA loan value of $179,131.

Harrisburg FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Harrisburg averaged 5.46% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

The average rate for the prior week (2022-05-13) was 5.47% and one month ago for the week of 2022-04-15, the average rate was 4.76%.

The average rate one year ago was 3.03%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.04%.

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

Harrisburg 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 Harrisburg level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 218 2.81% $6,292
HOMEBRIDGE FINANCIAL SERVICES, INC. 73 2.99% $8,861
Northpointe Bank 70 2.94% $7,342
LOANDEPOT.COM, LLC 65 3.20% $7,443
CROSSCOUNTRY MORTGAGE, LLC 64 3.12% $8,196
FREEDOM MORTGAGE CORPORATION 64 3.02% $5,246
LAKEVIEW LOAN SERVICING, LLC 58 3.10% $5,433
UNION HOME MORTGAGE CORP. 57 3.18% $7,978
Mr. Cooper ( Nationstar Mortgage ) 54 3.32% $4,131
PENNYMAC LOAN SERVICES, LLC 52 2.93% $4,575
HOME POINT FINANCIAL CORPORATION 50 2.74% $6,876
Citizens Bank 44 2.80% $7,824
TIDEWATER MORTGAGE SERVICES, INC. 39 3.10% $8,120
MEMBERS 1ST FEDERAL CREDIT UNION 38 2.76% $6,892
RESIDENTIAL MORTGAGE SERVICES, INC. 37 3.14% $7,407
CALIBER HOME LOANS, INC. 36 2.94% $6,912
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 30 3.16% $7,615
HOMESPIRE MORTGAGE CORPORATION 30 3.25% $7,824
UNITED WHOLESALE MORTGAGE, LLC 26 2.83% $8,438
NEWREZ LLC 24 2.91% $5,473
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 23 3.18% $8,670
EMM LOANS LLC 19 2.94% $7,150
Paramount Residential Mortgage Group, Inc. 18 3.39% $9,644
HOWARD HANNA FINANCIAL SERVICES, INC. 18 2.83% $8,115
GUILD MORTGAGE COMPANY 18 3.33% $7,539
AmeriHome Mortgage Company, LLC 17 2.90% $4,913
Foote Capital Mortgage Company 17 3.03% $6,544
VILLAGE CAPITAL & INVESTMENT LLC 17 3.07% $2,682
GUARANTEED RATE AFFINITY, LLC 16 3.13% $7,269
Manufacturers and Traders Trust Company 15 2.75% $7,226
MCLEAN MORTGAGE CORPORATION 15 3.00% $6,886
EQUITY RESOURCES, INC. 15 3.27% $6,799
Mortgage America, Inc. 14 2.94% $6,508
BROKER SOLUTIONS, INC. 14 3.12% $7,802
Carrington Mortgage Services, LLC 14 3.25% $8,375
FIRST ALLIANCE HOME MORTGAGE, LLC 13 3.19% $6,470
Orrstown Bank 13 3.00% $6,933
GUARANTEED RATE, INC. 12 3.06% $7,865
Mortgage Network, Inc. 12 2.90% $7,863
AMERISAVE MORTGAGE CORPORATION 11 3.19% $8,669
Fulton Bank 10 2.88% $6,178
MOVEMENT MORTGAGE, LLC 10 2.89% $7,654
Homesale Mortgage, LLC 10 2.93% $6,749
Lakeview Community Capital, LLC 9 3.18% $4,834
MEMBER FIRST MORTGAGE, LLC 8 3.36% $7,973
Sierra Pacific Mortgage Company, Inc. 8 2.84% $7,479
ALLIED MORTGAGE GROUP, INC. 7 3.07% $10,440
InterContinental Capital Group, Inc 7 2.68% $8,034
Farmers and Merchants Trust Company of Chambersburg 7 2.98% $7,026
PLANET HOME LENDING, LLC 6 2.90% $6,008
AMERICAN FINANCIAL NETWORK, INC. 6 2.90% $11,526
Flagstar Bank, FSB 6 2.87% $6,824
First National Bank of Pennsylvania 6 2.54% $8,276
HOMESIDE FINANCIAL, LLC 6 3.08% $7,584
NFM, INC. 6 3.06% $7,446
PLAZA HOME MORTGAGE, INC. 5 3.10% $11,427
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.78% $10,752
NATIONWIDE MORTGAGE BANKERS, INC. 5 3.30% $9,790
NATIONS DIRECT MORTGAGE, LLC 5 3.25% $9,555
First Guaranty Mortgage Corporation 5 3.05% $6,485
GENEVA FINANCIAL, LLC 5 3.53% $6,973
1ST PREFERENCE MORTGAGE CORP. 4 3.56% $9,285
AMERICAN FINANCING CORPORATION 4 3.28% $5,089
FAMILY FIRST FUNDING LLC 4 3.22% $7,013
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 3.37% $7,570
UNITED SECURITY FINANCIAL CORP 4 2.59% $5,990
T2 FINANCIAL LLC 3 3.17% $8,877
TOP FLITE FINANCIAL, INC. 3 3.75% $13,367
PATRIOT 3 2.46% $7,733
Mid Penn Bank 2 3.00% $10,614
JPMorgan Chase Bank 2 3.50% $6,931
Integrity Home Mortgage Corp 2 2.94% $7,223
Meridian Bank Corporation 2 2.81% $7,900
Mortgage Research Center, LLC 2 3.50% $4,836
First Home Bank 2 3.56% $6,385
MUTUAL OF OMAHA MORTGAGE, INC. 2 3.31% $8,206
FIDELITY DIRECT MORTGAGE, LLC 2 3.13% $10,954
NVR Mortgage Finance, Inc. 2 2.93% $12,671
OCEANSIDE MORTGAGE COMPANY 2 2.93% $1,913
OCMBC, INC. 2 2.94% $8,426
CONTOUR MORTGAGE CORPORATION 2 3.13% $10,110
Plains Commerce Bank 2 2.88% $7,520
PNC Bank 2 3.56% $3,407
BAYSHORE MORTGAGE FUNDING, LLC 2 2.94% $9,714
York Traditions Bank 2 3.13% $7,089
Princeton Mortgage Corporation 2 2.88% $11,408
RELIANCE FIRST CAPITAL, LLC 2 3.06% $11,704
Atlantic Home Loans, Inc. 2 3.19% $8,381
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 3.38% $8,717
LOANPAL, LLC 2 2.63% $8,598
KELLER MORTGAGE, LLC 2 2.75% $6,393
Customers Bank 1 2.75% $7,508
MILLENNIUM FINANCIAL GROUP, INC. 1 2.63% $6,254
Patriot Lending Services, Inc. 1 3.25% $8,102
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.75% $5,700
Hometown Lenders, Inc. 1 3.75% $10,996
Community First National Bank 1 2.75% $7,875
BEST CAPITAL FUNDING 1 2.25% $12,642
TOTAL MORTGAGE SERVICES, LLC 1 4.13% $10,555
POLARIS HOME FUNDING CORP. 1 2.88% $16,020
Presidential Bank, FSB 1 2.50% $10,263
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.00% $10,525
ZILLOW HOME LOANS, LLC 1 3.00% $5,339
Wyndham Capital Mortgage, Inc. 1 2.50% $6,292
Prosperity Home Mortgage, LLC 1 3.00% $4,706
Quaint Oak Mortgage, LLC 1 3.25% $4,861
BAY CAPITAL MORTGAGE CORPORATION 1 3.25% $7,809
U.S. Bank 1 2.25% $7,433
Bank of England 1 3.75% $6,877
MORIA DEVELOPMENT, INC. 1 3.63% $8,078
Hometown Equity Mortgage, LLC 1 2.88% $6,321
George Mason Mortgage, LLC 1 2.99% $10,333
Santander Bank, N.A. 1 3.50% $7,379
Austin Capital Bank SSB 1 3.15% $7,862
FINANCE OF AMERICA MORTGAGE LLC 1 3.00% $4,765
SOUTHERN TRUST MORTGAGE, LLC 1 2.50% $10,346
SUCCESS MORTGAGE PARTNERS, INC. 1 2.75% $8,516
Nations Lending Corporation 1 2.88% $16,212
EVERETT FINANCIAL, INC. 1 3.63% $4,812
NETWORK CAPITAL FUNDING CORPORATION 1 2.88% $9,859
Equity Prime Mortgage LLC 1 3.25% $11,438
EMBRACE HOME LOANS, INC. 1 2.75% $7,819
DRAPER AND KRAMER MORTGAGE CORP. 1 3.75% $7,311
SUN WEST MORTGAGE COMPANY, INC. 1 3.75% $3,368
SWBC MORTGAGE CORPORATION 1 3.25% $14,331
MICHIGAN MUTUAL, INC. 1 2.88% $8,935
DIRECT MORTGAGE LOANS, LLC 1 2.88% $8,002

The top Harrisburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 218 FHA loans originated. Their average total fees are $6,292, which is $2,569 lower than the next largest lender, HOMEBRIDGE FINANCIAL SERVICES, INC..

The lowest fee Harrisburg FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,682), Mr. Cooper ( Nationstar Mortgage ) ($4,131), PENNYMAC LOAN SERVICES, LLC ($4,575), AmeriHome Mortgage Company, LLC ($4,913) and FREEDOM MORTGAGE CORPORATION ($5,246).

The lowest rate Harrisburg FHA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (2.74%), Manufacturers and Traders Trust Company (2.75%), MEMBERS 1ST FEDERAL CREDIT UNION (2.76%), Citizens Bank (2.80%) and QUICKEN LOANS, LLC (2.81%).

Harrisburg FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
HARRISBURG-CARLISLE, PA CUMBERLAND 2022 $420,680 $538,650 $651,050 $809,150
HARRISBURG-CARLISLE, PA DAUPHIN 2022 $420,680 $538,650 $651,050 $809,150
HARRISBURG-CARLISLE, PA PERRY 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Harrisburg (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 $198,950 (10.6%) $242,317 (4.8%) 0.73 1,827
2018-02-01 $202,400 (10.1%) $246,107 (5.3%) 0.73 1,727
2018-03-01 $209,900 (12.3%) $255,716 (7.2%) 0.73 1,687
2018-04-01 $207,500 (6.5%) $256,778 (4.1%) 0.70 1,708
2018-05-01 $224,099 (11.2%) $265,776 (5.7%) 0.75 1,809
2018-06-01 $219,900 (10.0%) $263,265 (4.1%) 0.73 1,962
2018-07-01 $216,000 (8.5%) $261,594 (3.9%) 0.72 2,001
2018-08-01 $219,900 (10.3%) $260,923 (4.0%) 0.73 2,034
2018-09-01 $219,990 (13.5%) $261,314 (6.1%) 0.74 1,974
2018-10-01 $218,700 (15.1%) $261,554 (8.0%) 0.73 1,963
2018-11-01 $216,350 (13.9%) $259,876 (8.6%) 0.73 1,869
2018-12-01 $219,000 (15.0%) $258,033 (8.4%) 0.75 1,676
2019-01-01 $218,800 (10.0%) $255,992 (5.6%) 0.75 1,506
2019-02-01 $219,950 (8.7%) $256,457 (4.2%) 0.74 1,414
2019-03-01 $220,986 (5.3%) $261,923 (2.4%) 0.72 1,397
2019-04-01 $220,036 (6.0%) $266,678 (3.9%) 0.69 1,439
2019-05-01 $219,950 (-1.9%) $266,266 (0.2%) 0.68 1,539
2019-06-01 $225,000 (2.3%) $269,281 (2.3%) 0.69 1,585
2019-07-01 $230,000 (6.5%) $274,310 (4.9%) 0.71 1,593
2019-08-01 $234,240 (6.5%) $279,410 (7.1%) 0.74 1,535
2019-09-01 $236,743 (7.6%) $287,002 (9.8%) 0.75 1,430
2019-10-01 $236,250 (8.0%) $285,426 (9.1%) 0.75 1,471
2019-11-01 $234,900 (8.6%) $281,904 (8.5%) 0.76 1,465
2019-12-01 $236,750 (8.1%) $284,492 (10.3%) 0.79 1,279
2020-01-01 $238,713 (9.1%) $285,770 (11.6%) 0.80 1,091
2020-02-01 $239,995 (9.1%) $290,432 (13.3%) 0.77 965
2020-03-01 $249,900 (13.1%) $296,623 (13.3%) 0.78 917
2020-04-01 $250,000 (13.6%) $298,218 (11.8%) 0.78 863
2020-05-01 $250,000 (13.7%) $299,092 (12.3%) 0.76 923
2020-06-01 $259,650 (15.4%) $303,225 (12.6%) 0.76 936
2020-07-01 $260,000 (13.0%) $308,643 (12.5%) 0.75 816
2020-08-01 $255,000 (8.9%) $313,578 (12.2%) 0.73 770
2020-09-01 $256,450 (8.3%) $317,915 (10.8%) 0.73 744
2020-10-01 $260,000 (10.1%) $327,368 (14.7%) 0.74 683
2020-11-01 $262,150 (11.6%) $323,684 (14.8%) 0.75 637
2020-12-01 $253,800 (7.2%) $313,704 (10.3%) 0.74 616
2021-01-01 $259,900 (8.9%) $319,887 (11.9%) 0.76 533
2021-02-01 $264,950 (10.4%) $323,601 (11.4%) 0.76 443
2021-03-01 $276,945 (10.8%) $332,128 (12.0%) 0.78 454
2021-04-01 $270,000 (8.0%) $340,712 (14.3%) 0.73 451
2021-05-01 $269,999 (8.0%) $340,005 (13.7%) 0.71 500
2021-06-01 $239,900 (-7.6%) $314,701 (3.8%) 0.62 650
2021-07-01 $241,200 (-7.2%) $307,916 (-0.2%) 0.63 678
2021-08-01 $239,750 (-6.0%) $307,649 (-1.9%) 0.63 698
2021-09-01 $239,900 (-6.5%) $299,603 (-5.8%) 0.63 680
2021-10-01 $249,900 (-3.9%) $317,703 (-3.0%) 0.66 662
2021-11-01 $249,900 (-4.7%) $325,540 (0.6%) 0.66 618
2021-12-01 $247,400 (-2.5%) $314,768 (0.3%) 0.66 536
2022-01-01 $230,000 (-11.5%) $310,653 (-2.9%) 0.61 469
2022-02-01 $262,450 (-0.9%) $335,529 (3.7%) 0.67 413
2022-03-01 $264,250 (-4.6%) $335,143 (0.9%) 0.65 436
2022-04-01 $289,999 (7.4%) $341,844 (0.3%) 0.68 491
Harrisburg's median listing price for 2022-04-01 was $289,999, a difference of $19,999 (7.4%) versus the prior year and $25,749 versus the prior month.

Harrisburg's median listing price comes in at 68% of the national average.

Harrisburg's average listing price for 2022-04-01 was $341,844, a difference of $1,132 (0.3%) versus the prior year and $6,701 versus the prior month.

For the 2022-04-01 period, Harrisburg had 491 MLS listings, a difference of 55 listings (13%) versus the prior month and 40 listings (9%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Harrisburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 101 days 1,800 sqft
2018-02-01 99 days 1,812 sqft
2018-03-01 81 days 1,840 sqft
2018-04-01 70 days 1,831 sqft
2018-05-01 60 days 1,850 sqft
2018-06-01 58 days 1,970 sqft
2018-07-01 65 days 1,950 sqft
2018-08-01 67 days 1,952 sqft
2018-09-01 71 days 1,970 sqft
2018-10-01 73 days 1,945 sqft
2018-11-01 79 days 1,921 sqft
2018-12-01 88 days 1,919 sqft
2019-01-01 98 days 1,907 sqft
2019-02-01 99 days 1,920 sqft
2019-03-01 57 days 1,918 sqft
2019-04-01 45 days 1,931 sqft
2019-05-01 45 days 2,007 sqft
2019-06-01 51 days 2,022 sqft
2019-07-01 57 days 2,061 sqft
2019-08-01 60 days 2,088 sqft
2019-09-01 58 days 2,129 sqft
2019-10-01 58 days 2,110 sqft
2019-11-01 63 days 2,102 sqft
2019-12-01 75 days 2,098 sqft
2020-01-01 88 days 2,094 sqft
2020-02-01 85 days 2,105 sqft
2020-03-01 54 days 2,121 sqft
2020-04-01 67 days 2,100 sqft
2020-05-01 70 days 2,136 sqft
2020-06-01 39 days 2,137 sqft
2020-07-01 39 days 2,121 sqft
2020-08-01 36 days 2,120 sqft
2020-09-01 39 days 2,079 sqft
2020-10-01 53 days 2,083 sqft
2020-11-01 55 days 2,067 sqft
2020-12-01 59 days 2,056 sqft
2021-01-01 70 days 2,057 sqft
2021-02-01 67 days 2,067 sqft
2021-03-01 51 days 2,055 sqft
2021-04-01 44 days 2,020 sqft
2021-05-01 40 days 1,964 sqft
2021-06-01 38 days 1,856 sqft
2021-07-01 40 days 1,898 sqft
2021-08-01 42 days 1,861 sqft
2021-09-01 47 days 1,864 sqft
2021-10-01 48 days 1,831 sqft
2021-11-01 48 days 1,838 sqft
2021-12-01 57 days 1,840 sqft
2022-01-01 58 days 1,844 sqft
2022-02-01 52 days 1,880 sqft
2022-03-01 37 days 1,860 sqft
2022-04-01 37 days 1,904 sqft
Harrisburg's median listing age (time on market) for 2022-04-01 was 37 days. This is -15% shorter than the same period one year ago.

Harrisburg's median square footage for active listings during the 2022-04-01 period was 1,904 sqft. One year prior, the average listing was 2,020 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).