Harrisburg FHA Loan Rates, Closing Costs & Stats

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 130 lenders originated 1,270 FHA loans during 2022. The total origination value was $245,930,000, with an average FHA loan value of $193,646.

Harrisburg FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Harrisburg averaged 6.18% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

Harrisburg's average FHA mortgage closing costs are $7,149.

The average rate for the prior week (2023-05-19) was 5.95% and one month ago for the week of 2023-04-21, the average rate was 5.99%.

The average rate one year ago was 5.01%.

For refis of the same type during the week of 2023-05-26, the average rate was 5.22%.

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

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 152 4.56% $8,921
Northpointe Bank 75 4.98% $9,190
LOANDEPOT.COM, LLC 59 5.04% $9,307
CROSSCOUNTRY MORTGAGE, LLC 48 5.47% $10,091
UNITED WHOLESALE MORTGAGE, LLC 43 5.10% $10,336
GUILD MORTGAGE COMPANY 42 5.05% $9,350
HOMEBRIDGE FINANCIAL SERVICES, INC. 37 4.45% $11,668
Citizens Bank 32 4.63% $9,879
EMM LOANS LLC 28 4.95% $10,165
FREEDOM MORTGAGE CORPORATION 24 4.52% $8,637
M&T Bank 22 4.44% $7,130
UNION HOME MORTGAGE CORP. 21 5.09% $9,282
HOME POINT FINANCIAL CORPORATION 21 4.27% $10,248
Mr. Cooper ( Nationstar Mortgage ) 21 4.76% $11,770
BROKER SOLUTIONS, INC. 21 5.05% $9,998
FIRST ALLIANCE HOME MORTGAGE, LLC 19 5.70% $10,963
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 19 5.70% $9,903
PENNYMAC LOAN SERVICES, LLC 17 4.12% $9,855
GUARANTEED RATE AFFINITY, LLC 17 5.28% $9,542
MOVEMENT MORTGAGE, LLC 16 4.94% $9,905
CALIBER HOME LOANS, INC. 15 5.15% $9,922
LAKEVIEW LOAN SERVICING, LLC 15 4.30% $6,046
HOWARD HANNA FINANCIAL SERVICES, INC. 15 5.63% $7,614
AMERISAVE MORTGAGE CORPORATION 14 4.51% $10,109
Mortgage America, Inc. 14 5.49% $7,425
TIDEWATER MORTGAGE SERVICES, INC. 14 5.11% $9,638
MCLEAN MORTGAGE CORPORATION 13 4.41% $8,785
HOMESPIRE MORTGAGE CORPORATION 13 4.92% $9,898
Flagstar Bank, FSB 12 4.17% $7,447
NFM, INC. 11 4.93% $10,846
MEMBERS 1ST FEDERAL CREDIT UNION 10 4.75% $7,311
CARDINAL FINANCIAL 10 4.61% $12,547
Carrington Mortgage Services, LLC 8 5.61% $9,439
MEMBER FIRST MORTGAGE, LLC 8 5.11% $9,378
Mortgage Network, Inc. 8 5.66% $10,133
AMERICAN FINANCING CORPORATION 8 4.20% $9,825
ALLIED MORTGAGE GROUP, INC. 8 4.78% $10,407
GUARANTEED RATE, INC. 8 4.21% $8,782
NEWREZ LLC 7 4.75% $7,895
Sierra Pacific Mortgage Company, Inc. 7 4.91% $8,835
PNC Bank 7 4.50% $7,679
RELIANCE FIRST CAPITAL, LLC 7 5.61% $10,822
Homesale Mortgage, LLC 6 5.06% $7,447
Equity Prime Mortgage LLC 6 5.60% $8,725
TOP FLITE FINANCIAL, INC. 6 4.81% $13,379
Lakeview Community Capital, LLC 6 4.33% $7,473
Orrstown Bank 5 4.18% $7,133
Farmers and Merchants Trust Company of Chambersburg 5 4.55% $6,306
FINANCE OF AMERICA MORTGAGE LLC 5 4.35% $9,242
MUTUAL OF OMAHA MORTGAGE, INC. 5 4.55% $12,425
Foote Capital Mortgage Company 5 4.95% $10,164
Bank of England 5 5.28% $8,694
GUARANTY HOME MORTGAGE CORPORATION 5 4.83% $8,160
York Traditions Bank 5 4.38% $8,767
Mortgage Research Center, LLC 4 6.53% $6,159
U.S. Bank 4 4.47% $7,288
Univest Bank and Trust Co. 4 4.44% $8,260
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.25% $8,087
BELCO COMMUNITY CREDIT UNION 4 5.75% $10,397
LOANPAL, LLC 4 4.78% $11,077
Nations Lending Corporation 4 5.81% $13,052
Paramount Residential Mortgage Group, Inc. 4 4.59% $10,852
PLAZA HOME MORTGAGE, INC. 3 4.92% $8,125
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 4.75% $10,664
Barrington Bank & Trust Company, N.A. 3 5.28% $7,236
First National Bank of Pennsylvania 3 3.21% $7,840
Integrity Home Mortgage Corp 3 5.00% $13,890
Meridian Bank Corporation 3 4.17% $11,681
Mid Penn Bank 3 4.92% $6,860
NATIONS DIRECT MORTGAGE, LLC 3 5.17% $10,171
NVR Mortgage Finance, Inc. 3 5.25% $15,985
SUCCESS MORTGAGE PARTNERS, INC. 3 5.41% $9,848
The Federal Savings Bank 3 5.21% $15,241
VILLAGE CAPITAL MORTGAGE 3 3.00% $2,741
EVERETT FINANCIAL, INC. 2 5.88% $5,579
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.19% $11,353
HOMESIDE FINANCIAL, LLC 2 4.50% $9,430
First Guaranty Mortgage Corporation 2 4.13% $7,816
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 5.69% $12,056
NATIONWIDE MORTGAGE BANKERS, INC. 2 5.50% $10,685
Network Funding, L.P. 2 4.31% $13,264
OCMBC, INC. 2 5.19% $14,101
DHI MORTGAGE COMPANY, LTD. 2 5.50% $10,776
CMG MORTGAGE, INC. 2 6.44% $8,573
ABSOLUTE HOME MORTGAGE CORPORATION 2 5.19% $11,093
PATRIOT 2 4.75% $7,895
1ST PREFERENCE MORTGAGE CORP. 2 5.44% $10,221
CHURCHILL MORTGAGE CORPORATION 1 5.63% $8,802
1ST FINANCIAL, INC. 1 6.13% $12,345
CBM Mortgage, Inc. 1 5.63% $12,441
BAYSHORE MORTGAGE FUNDING, LLC 1 6.13% $11,297
BAY EQUITY LLC 1 5.25% $14,772
Bank of America 1 3.88% $14,536
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.13% $3,124
ROYAL UNITED MORTGAGE LLC 1 3.25% $9,708
RUOFF MORTGAGE COMPANY, INC. 1 3.38% $7,098
Santander Bank, N.A. 1 2.63% $8,214
Wilmington Savings Fund Society, FSB 1 5.13% $6,921
SUN WEST MORTGAGE COMPANY, INC. 1 4.75% $7,664
Texana Bank 1 3.75% $12,378
The Ephrata National Bank 1 6.63% $10,426
Wyndham Capital Mortgage, Inc. 1 5.50% $10,716
The Huntington National Bank 1 5.13% $9,551
THE MORTGAGE LINK, INC. 1 6.63% $9,725
THRIVE MORTGAGE, LLC 1 5.13% $7,684
ARC HOME LLC 1 4.99% $6,590
AmRes Corporation 1 3.50% $10,894
Towne Bank 1 5.25% $5,659
AmeriHome Mortgage Company, LLC 1 4.63% $7,197
UNITED MORTGAGE CORP. 1 4.75% $10,063
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.13% $10,769
MILLENNIUM FINANCIAL GROUP, INC. 1 5.75% $6,647
Lakeland Bank 1 3.88% $6,554
JPMorgan Chase Bank 1 5.25% $3,706
JAMES B. NUTTER & COMPANY 1 3.25% $3,955
Hometown Equity Mortgage, LLC 1 5.75% $12,419
MID-ISLAND MORTGAGE CORP. 1 3.88% $8,104
Alcova Mortgage LLC 1 6.25% $9,210
MLD MORTGAGE INC. 1 7.00% $5,891
HAMILTON HOME LOANS, INC. 1 4.88% $9,549
George Mason Mortgage, LLC 1 5.25% $12,864
GENEVA FINANCIAL, LLC 1 5.75% $15,954
FIRST STATE MORTGAGE SERVICES, LLC 1 5.13% $9,801
First Internet Bank of Indiana 1 4.62% $9,437
Waterstone Mortgage Corporation 1 6.63% $10,613
FIDELITY DIRECT MORTGAGE, LLC 1 5.63% $8,883
EQUITY RESOURCES, INC. 1 4.75% $8,124
NJ LENDERS CORP. 1 3.25% $11,121
EMBRACE HOME LOANS, INC. 1 5.75% $6,059
Wells Fargo Bank 1 5.00% $6,078

The top Harrisburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 152 FHA loans originated. Their average total fees are $8,921, which is $270 lower than the next largest lender, Northpointe Bank.

The lowest fee Harrisburg FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($6,046), M&T Bank ($7,130), MEMBERS 1ST FEDERAL CREDIT UNION ($7,311), Mortgage America, Inc. ($7,425) and Flagstar Bank, FSB ($7,447).

The lowest rate Harrisburg FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (4.12%), Flagstar Bank, FSB (4.17%), HOME POINT FINANCIAL CORPORATION (4.27%), LAKEVIEW LOAN SERVICING, LLC (4.30%) and MCLEAN MORTGAGE CORPORATION (4.41%).

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
HARRISBURG-CARLISLE, PA CUMBERLAND 2023 $472,030 $604,400 $730,525 $907,900
HARRISBURG-CARLISLE, PA DAUPHIN 2023 $472,030 $604,400 $730,525 $907,900
HARRISBURG-CARLISLE, PA PERRY 2023 $472,030 $604,400 $730,525 $907,900

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 $197,325 (10.3%) $241,407 (6.0%) 0.73 1,752
2018-02-01 $201,950 (13.6%) $244,958 (6.4%) 0.73 1,668
2018-03-01 $210,000 (13.6%) $254,267 (8.1%) 0.74 1,634
2018-04-01 $208,500 (9.7%) $256,570 (6.0%) 0.71 1,660
2018-05-01 $224,400 (12.2%) $265,594 (6.6%) 0.75 1,748
2018-06-01 $219,900 (10.0%) $261,613 (4.6%) 0.73 1,876
2018-07-01 $216,546 (11.1%) $260,414 (5.0%) 0.72 1,916
2018-08-01 $219,900 (12.8%) $258,848 (5.5%) 0.74 1,963
2018-09-01 $219,925 (15.8%) $260,591 (9.0%) 0.74 1,907
2018-10-01 $217,133 (14.7%) $260,543 (10.4%) 0.74 1,890
2018-11-01 $214,450 (15.6%) $258,462 (10.6%) 0.73 1,802
2018-12-01 $219,083 (16.3%) $256,994 (9.6%) 0.76 1,616
2019-01-01 $219,375 (11.2%) $256,320 (6.2%) 0.76 1,450
2019-02-01 $219,950 (8.9%) $255,758 (4.4%) 0.74 1,363
2019-03-01 $219,900 (4.7%) $261,167 (2.7%) 0.73 1,345
2019-04-01 $219,950 (5.5%) $268,597 (4.7%) 0.70 1,409
2019-05-01 $222,400 (-0.9%) $267,875 (0.9%) 0.70 1,499
2019-06-01 $228,750 (4.0%) $270,088 (3.2%) 0.71 1,531
2019-07-01 $233,325 (7.8%) $276,352 (6.1%) 0.73 1,556
2019-08-01 $235,000 (6.9%) $284,427 (9.9%) 0.74 1,601
2019-09-01 $249,945 (13.7%) $303,146 (16.3%) 0.79 1,310
2019-10-01 $239,900 (10.5%) $289,917 (11.3%) 0.77 1,422
2019-11-01 $234,900 (9.5%) $285,176 (10.3%) 0.77 1,406
2019-12-01 $236,957 (8.2%) $287,632 (11.9%) 0.79 1,237
2020-01-01 $239,900 (9.4%) $291,108 (13.6%) 0.80 1,064
2020-02-01 $240,000 (9.1%) $294,808 (15.3%) 0.79 945
2020-03-01 $249,968 (13.7%) $302,285 (15.7%) 0.78 907
2020-04-01 $250,850 (14.1%) $304,850 (13.5%) 0.79 830
2020-05-01 $254,100 (14.3%) $304,844 (13.8%) 0.77 892
2020-06-01 $257,150 (12.4%) $304,934 (12.9%) 0.76 916
2020-07-01 $261,200 (12.0%) $313,329 (13.4%) 0.76 793
2020-08-01 $259,900 (10.6%) $318,057 (11.8%) 0.74 746
2020-09-01 $256,875 (2.8%) $321,630 (6.1%) 0.74 725
2020-10-01 $261,400 (9.0%) $325,379 (12.2%) 0.75 661
2020-11-01 $257,550 (9.6%) $321,425 (12.7%) 0.75 620
2020-12-01 $253,050 (6.8%) $313,620 (9.0%) 0.75 603
2021-01-01 $259,900 (8.3%) $320,332 (10.0%) 0.78 525
2021-02-01 $267,200 (11.3%) $323,099 (9.6%) 0.78 443
2021-03-01 $278,925 (11.6%) $333,592 (10.4%) 0.79 446
2021-04-01 $274,225 (9.3%) $341,945 (12.2%) 0.74 444
2021-05-01 $276,950 (9.0%) $341,246 (11.9%) 0.74 495
2021-06-01 $239,950 (-6.7%) $312,492 (2.5%) 0.63 633
2021-07-01 $239,900 (-8.2%) $304,350 (-2.9%) 0.63 663
2021-08-01 $239,950 (-7.7%) $308,494 (-3.0%) 0.64 684
2021-09-01 $239,925 (-6.6%) $300,670 (-6.5%) 0.64 668
2021-10-01 $249,900 (-4.4%) $318,190 (-2.2%) 0.67 654
2021-11-01 $249,900 (-3.0%) $327,079 (1.8%) 0.67 610
2021-12-01 $247,350 (-2.3%) $316,953 (1.1%) 0.67 535
2022-01-01 $234,000 (-10.0%) $311,314 (-2.8%) 0.63 470
2022-02-01 $261,826 (-2.0%) $336,024 (4.0%) 0.68 414
2022-03-01 $262,450 (-5.9%) $337,759 (1.3%) 0.66 434
2022-04-01 $289,900 (5.7%) $343,406 (0.4%) 0.69 492
2022-05-01 $277,445 (0.2%) $343,371 (0.6%) 0.63 565
2022-06-01 $291,378 (21.4%) $354,860 (13.6%) 0.65 641
2022-07-01 $295,000 (23.0%) $363,585 (19.5%) 0.67 678
2022-08-01 $312,175 (30.1%) $366,793 (18.9%) 0.72 682
2022-09-01 $297,273 (23.9%) $361,348 (20.2%) 0.70 703
2022-10-01 $309,000 (23.7%) $364,059 (14.4%) 0.73 723
2022-11-01 $306,973 (22.8%) $366,095 (11.9%) 0.74 706
2022-12-01 $300,000 (21.3%) $363,003 (14.5%) 0.74 632
2023-01-01 $319,973 (36.7%) $379,632 (22.0%) 0.79 538
2023-02-01 $322,400 (23.1%) $388,519 (15.6%) 0.78 518
2023-03-01 $344,900 (31.4%) $404,781 (19.8%) 0.81 506
2023-04-01 $319,990 (10.4%) $389,079 (13.3%) 0.74 473
Harrisburg's median listing price for 2023-04-01 was $319,990, a difference of $30,090 (10.4%) versus the prior year and $-24,910 versus the prior month.

Harrisburg's median listing price comes in at 74% of the national average.

Harrisburg's average listing price for 2023-04-01 was $389,079, a difference of $45,673 (13.3%) versus the prior year and $-15,702 versus the prior month.

For the 2023-04-01 period, Harrisburg had 473 MLS listings, a difference of -33 listings (-7%) versus the prior month and -19 listings (-4%) 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
2018-02-01 100 days 1,814 sqft
2018-03-01 82 days 1,846 sqft
2018-04-01 69 days 1,832 sqft
2018-05-01 61 days 1,850 sqft
2018-06-01 59 days 1,970 sqft
2018-07-01 65 days 1,954 sqft
2018-08-01 67 days 1,950 sqft
2018-09-01 71 days 1,966 sqft
2018-10-01 73 days 1,941 sqft
2018-11-01 78 days 1,920 sqft
2018-12-01 88 days 1,919 sqft
2019-01-01 98 days 1,907 sqft
2019-02-01 97 days 1,900 sqft
2019-03-01 57 days 1,906 sqft
2019-04-01 45 days 1,937 sqft
2019-05-01 45 days 2,018 sqft
2019-06-01 51 days 2,029 sqft
2019-07-01 58 days 2,075 sqft
2019-08-01 72 days 2,112 sqft
2019-09-01 77 days 2,153 sqft
2019-10-01 61 days 2,118 sqft
2019-11-01 65 days 2,105 sqft
2019-12-01 78 days 2,100 sqft
2020-01-01 89 days 2,095 sqft
2020-02-01 82 days 2,100 sqft
2020-03-01 55 days 2,133 sqft
2020-04-01 70 days 2,102 sqft
2020-05-01 72 days 2,132 sqft
2020-06-01 43 days 2,118 sqft
2020-07-01 40 days 2,111 sqft
2020-08-01 36 days 2,117 sqft
2020-09-01 40 days 2,079 sqft
2020-10-01 53 days 2,084 sqft
2020-11-01 55 days 2,067 sqft
2020-12-01 58 days 2,057 sqft
2021-01-01 69 days 2,062 sqft
2021-02-01 64 days 2,071 sqft
2021-03-01 50 days 2,059 sqft
2021-04-01 43 days 2,018 sqft
2021-05-01 38 days 1,964 sqft
2021-06-01 36 days 1,850 sqft
2021-07-01 38 days 1,879 sqft
2021-08-01 40 days 1,863 sqft
2021-09-01 46 days 1,853 sqft
2021-10-01 46 days 1,816 sqft
2021-11-01 47 days 1,829 sqft
2021-12-01 56 days 1,822 sqft
2022-01-01 58 days 1,829 sqft
2022-02-01 50 days 1,873 sqft
2022-03-01 36 days 1,854 sqft
2022-04-01 36 days 1,888 sqft
2022-05-01 37 days 1,882 sqft
2022-06-01 37 days 1,917 sqft
2022-07-01 41 days 1,935 sqft
2022-08-01 43 days 1,951 sqft
2022-09-01 45 days 1,937 sqft
2022-10-01 46 days 1,947 sqft
2022-11-01 50 days 1,953 sqft
2022-12-01 59 days 1,949 sqft
2023-01-01 74 days 1,987 sqft
2023-02-01 65 days 1,933 sqft
2023-03-01 49 days 2,007 sqft
2023-04-01 39 days 2,013 sqft
Harrisburg's median listing age (time on market) for 2023-04-01 was 39 days. This is 8% longer than the same period one year ago.

Harrisburg's median square footage for active listings during the 2023-04-01 period was 2,013 sqft. One year prior, the average listing was 1,888 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).