Johnstown FHA Loan Rates, Closing Costs & Stats

JOHNSTOWN, PA

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    • 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.

    Johnstown's 45 lenders originated 183 FHA loans during 2023. The total origination value was $21,545,000, with an average FHA loan value of $117,732.

    Johnstown FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Johnstown averaged 6.06% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Johnstown's average FHA mortgage closing costs are $5,829.

    The average rate for the prior week (2024-12-06) was 6.43% and one month ago for the week of 2024-11-08, the average rate was 6.5%.

    The average rate one year ago was 6.61%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

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

    Johnstown 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 Johnstown level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    PRIMELENDING, A PLAINSCAPITAL COMPANY 30 6.63% $6,925
    QUICKEN LOANS, LLC 29 6.65% $7,414
    Flagstar Bank, FSB 15 6.62% $6,833
    First Commonwealth Bank 14 6.51% $6,767
    Citizens Bank 8 6.14% $8,894
    NORWICH COMMERCIAL GROUP, INC. 6 6.75% $7,384
    FIRST HERITAGE FINANCIAL, LLC 4 6.09% $5,620
    First National Bank of Pennsylvania 4 6.22% $6,876
    FREEDOM MORTGAGE CORPORATION 4 7.38% $6,741
    BROKER SOLUTIONS, INC. 4 6.84% $8,303
    CROSSCOUNTRY MORTGAGE, LLC 3 6.75% $6,779
    PLAZA HOME MORTGAGE, INC. 3 6.25% $7,106
    MOVEMENT MORTGAGE, LLC 3 6.75% $6,720
    EQUITY RESOURCES, INC. 2 6.81% $6,766
    Carrington Mortgage Services, LLC 2 6.94% $6,461
    AFFORDABLE MORTGAGE ADVISORS, LLC. 2 6.19% $6,686
    UNITED WHOLESALE MORTGAGE, LLC 2 5.94% $7,328
    NETWORK CAPITAL FUNDING CORPORATION 2 6.13% $9,295
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.25% $7,189
    ROYAL UNITED MORTGAGE LLC 2 6.19% $7,543
    RUOFF MORTGAGE COMPANY, INC. 1 7.25% $5,943
    STOCKTON MORTGAGE CORPORATION 1 6.25% $6,024
    UNION HOME MORTGAGE CORP. 1 6.50% $6,325
    U.S. Bank 1 6.99% $8,105
    Wells Fargo Bank 1 5.25% $7,210
    ZILLOW HOME LOANS, LLC 1 7.63% $7,733
    AMERISAVE MORTGAGE CORPORATION 1 6.75% $8,872
    AmeriServ Financial Bank 1 5.63% $5,087
    Atlantic Coast Mortgage, LLC 1 6.49% $9,926
    Bank of England 1 6.75% $4,190
    Dollar Bank, Federal Savings Bank 1 6.38% $5,881
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $7,995
    Fulton Bank 1 6.13% $7,767
    HOMESIDE FINANCIAL, LLC 1 6.75% $4,187
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 6.75% $9,775
    LIBERTY HOME MORTGAGE CORPORATION 1 5.88% $6,939
    LOANDEPOT.COM, LLC 1 4.99% $12,149
    M&T Bank 1 7.50% $6,052
    NATIONS RELIABLE LENDING, LLC 1 6.63% $7,079
    NEWREZ LLC 1 6.25% $10,589
    PENNYMAC LOAN SERVICES, LLC 1 6.75% $5,960
    PHH Mortgage Corporation 1 6.63% $8,947
    Plains Commerce Bank 1 6.75% $10,877
    PNC Bank 1 6.25% $4,163
    Quaint Oak Mortgage, LLC 1 6.50% $6,096

    The top Johnstown FHA lender as defined by loan originations is PRIMELENDING, A PLAINSCAPITAL COMPANY, with 30 FHA loans originated. Their average total fees are $6,925, which is $489 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Johnstown FHA lenders (with over 10 loans originated) are First Commonwealth Bank ($6,767), Flagstar Bank, FSB ($6,833), PRIMELENDING, A PLAINSCAPITAL COMPANY ($6,925), QUICKEN LOANS, LLC ($7,414) and .

    The lowest rate Johnstown FHA lenders (with over 10 loans originated) are First Commonwealth Bank (6.51%), Flagstar Bank, FSB (6.62%), PRIMELENDING, A PLAINSCAPITAL COMPANY (6.63%), QUICKEN LOANS, LLC (6.65%) and .

    Johnstown FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    JOHNSTOWN, PA CAMBRIA 2022 $420,680 $538,650 $651,050 $809,150
    JOHNSTOWN, PA CAMBRIA 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Johnstown (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 $74,650 (6.8%) $101,094 (-3.0%) 0.28 461
    2018-02-01 $69,550 (7.0%) $95,688 (-5.6%) 0.25 444
    2018-03-01 $69,900 (0.0%) $95,264 (-10.0%) 0.24 442
    2018-04-01 $72,900 (1.4%) $100,039 (-5.4%) 0.25 459
    2018-05-01 $74,900 (-0.1%) $104,666 (-4.3%) 0.25 488
    2018-06-01 $79,900 (6.7%) $109,777 (0.0%) 0.27 520
    2018-07-01 $79,900 (10.2%) $109,116 (1.4%) 0.27 546
    2018-08-01 $79,300 (5.9%) $107,661 (-0.4%) 0.26 552
    2018-09-01 $79,000 (9.7%) $109,132 (1.2%) 0.26 539
    2018-10-01 $77,300 (3.2%) $109,232 (2.0%) 0.26 530
    2018-11-01 $74,975 (0.1%) $107,841 (0.7%) 0.25 499
    2018-12-01 $72,000 (2.9%) $105,879 (3.7%) 0.25 456
    2019-01-01 $71,000 (-4.9%) $108,740 (7.6%) 0.26 415
    2019-02-01 $69,925 (0.5%) $108,129 (13.0%) 0.24 404
    2019-03-01 $75,836 (8.5%) $114,418 (20.1%) 0.25 419
    2019-04-01 $84,125 (15.4%) $123,258 (23.2%) 0.27 435
    2019-05-01 $81,625 (9.0%) $121,289 (15.9%) 0.26 426
    2019-06-01 $89,000 (11.4%) $119,470 (8.8%) 0.28 459
    2019-07-01 $87,425 (9.4%) $116,502 (6.8%) 0.28 510
    2019-08-01 $83,941 (5.9%) $115,035 (6.9%) 0.27 522
    2019-09-01 $82,427 (4.3%) $114,113 (4.6%) 0.27 525
    2019-10-01 $82,243 (6.4%) $114,972 (5.3%) 0.27 517
    2019-11-01 $79,900 (6.6%) $111,427 (3.3%) 0.26 487
    2019-12-01 $79,900 (11.0%) $110,395 (4.3%) 0.27 446
    2020-01-01 $79,900 (12.5%) $110,455 (1.6%) 0.27 410
    2020-02-01 $74,900 (7.1%) $99,667 (-7.8%) 0.24 376
    2020-03-01 $77,100 (1.7%) $105,173 (-8.1%) 0.24 383
    2020-04-01 $77,875 (-7.4%) $106,157 (-13.9%) 0.24 346
    2020-05-01 $79,900 (-2.1%) $110,528 (-8.9%) 0.24 320
    2020-06-01 $82,450 (-7.4%) $115,686 (-3.2%) 0.23 308
    2020-07-01 $80,000 (-8.5%) $114,733 (-1.5%) 0.23 308
    2020-08-01 $87,500 (4.2%) $118,641 (3.1%) 0.25 303
    2020-09-01 $82,750 (0.4%) $116,711 (2.3%) 0.25 267
    2020-10-01 $75,900 (-7.7%) $108,548 (-5.6%) 0.22 256
    2020-11-01 $79,650 (-0.3%) $110,723 (-0.6%) 0.23 235
    2020-12-01 $80,425 (0.7%) $111,679 (1.2%) 0.23 211
    2021-01-01 $79,900 (0.0%) $108,863 (-1.4%) 0.25 181
    2021-02-01 $80,925 (8.0%) $110,728 (11.1%) 0.24 151
    2021-03-01 $74,950 (-2.8%) $107,289 (2.0%) 0.21 139
    2021-04-01 $74,975 (-3.7%) $103,525 (-2.5%) 0.20 128
    2021-05-01 $84,900 (6.3%) $128,437 (16.2%) 0.23 145
    2021-06-01 $96,950 (17.6%) $150,839 (30.4%) 0.25 165
    2021-07-01 $105,900 (32.4%) $151,546 (32.1%) 0.28 193
    2021-08-01 $92,350 (5.5%) $138,545 (16.8%) 0.24 202
    2021-09-01 $100,000 (20.9%) $138,076 (18.3%) 0.28 198
    2021-10-01 $99,900 (31.6%) $135,957 (25.3%) 0.26 212
    2021-11-01 $93,675 (17.6%) $137,176 (23.9%) 0.25 180
    2021-12-01 $94,700 (17.8%) $134,680 (20.6%) 0.25 164
    2022-01-01 $89,900 (12.5%) $132,584 (21.8%) 0.24 142
    2022-02-01 $81,975 (1.3%) $128,550 (16.1%) 0.20 127
    2022-03-01 $82,500 (10.1%) $134,720 (25.6%) 0.20 121
    2022-04-01 $85,000 (13.4%) $127,115 (22.8%) 0.20 129
    2022-05-01 $92,450 (8.9%) $138,675 (8.0%) 0.21 139
    2022-06-01 $92,325 (-4.8%) $136,970 (-9.2%) 0.20 159
    2022-07-01 $109,450 (3.4%) $146,722 (-3.2%) 0.23 190
    2022-08-01 $110,450 (19.6%) $143,920 (3.9%) 0.26 213
    2022-09-01 $118,500 (18.5%) $143,127 (3.7%) 0.00 188
    2022-10-01 $109,950 (10.1%) $138,213 (1.7%) 0.00 181
    2022-11-01 $113,675 (21.4%) $139,000 (1.3%) 0.00 178
    2022-12-01 $94,950 (0.3%) $127,872 (-5.1%) 0.00 165
    2023-01-01 $87,400 (-2.8%) $122,001 (-8.0%) 0.00 154
    2023-02-01 $91,950 (12.2%) $128,745 (0.2%) 0.00 142
    2023-03-01 $98,475 (19.4%) $130,145 (-3.4%) 0.00 136
    2023-04-01 $98,500 (15.9%) $136,155 (7.1%) 0.00 125
    2023-05-01 $85,500 (-7.5%) $127,363 (-8.2%) 0.00 149
    2023-06-01 $94,200 (2.0%) $132,014 (-3.6%) 0.00 196
    2023-07-01 $95,000 (-13.2%) $134,281 (-8.5%) 0.00 201
    2023-08-01 $109,950 (-0.5%) $147,687 (2.6%) 0.00 209
    2023-09-01 $109,000 (-8.0%) $146,496 (2.4%) 0.00 204
    2023-10-01 $103,750 (-5.6%) $141,175 (2.1%) 0.00 213
    2023-11-01 $97,400 (-14.3%) $139,562 (0.4%) 0.00 208
    2023-12-01 $99,900 (5.2%) $141,488 (10.7%) 0.00 196
    2024-01-01 $97,450 (11.5%) $145,684 (19.4%) 0.00 181
    2024-02-01 $99,650 (8.4%) $143,686 (11.6%) 0.00 163
    2024-03-01 $109,450 (11.1%) $142,911 (9.8%) 0.00 164
    2024-04-01 $111,450 (13.2%) $147,564 (8.4%) 0.00 163
    2024-05-01 $119,925 (40.3%) $154,119 (21.0%) 0.00 171
    2024-06-01 $134,900 (43.2%) $167,493 (26.9%) 0.00 166
    2024-07-01 $139,900 (47.3%) $169,963 (26.6%) 0.00 168
    2024-08-01 $134,950 (22.7%) $169,332 (14.7%) 0.00 194
    2024-09-01 $134,900 (23.8%) $164,381 (12.2%) 0.00 201
    2024-10-01 $122,475 (18.1%) $158,271 (12.1%) 0.00 206
    2024-11-01 $125,000 (28.3%) $163,585 (17.2%) 0.00 195
    Johnstown's median listing price for 2024-11-01 was $125,000, a difference of $27,600 (28.3%) versus the prior year and $2,525 versus the prior month.

    Johnstown's median listing price comes in at 0% of the national average.

    Johnstown's average listing price for 2024-11-01 was $163,585, a difference of $24,023 (17.2%) versus the prior year and $5,314 versus the prior month.

    For the 2024-11-01 period, Johnstown had 195 MLS listings, a difference of -11 listings (-5%) versus the prior month and -13 listings (-6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Johnstown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 141 days 1,519 sqft
    2018-02-01 145 days 1,484 sqft
    2018-03-01 144 days 1,497 sqft
    2018-04-01 125 days 1,544 sqft
    2018-05-01 85 days 1,557 sqft
    2018-06-01 74 days 1,560 sqft
    2018-07-01 80 days 1,557 sqft
    2018-08-01 84 days 1,544 sqft
    2018-09-01 94 days 1,560 sqft
    2018-10-01 98 days 1,560 sqft
    2018-11-01 107 days 1,540 sqft
    2018-12-01 120 days 1,536 sqft
    2019-01-01 128 days 1,553 sqft
    2019-02-01 133 days 1,535 sqft
    2019-03-01 135 days 1,567 sqft
    2019-04-01 93 days 1,616 sqft
    2019-05-01 76 days 1,631 sqft
    2019-06-01 75 days 1,616 sqft
    2019-07-01 76 days 1,600 sqft
    2019-08-01 80 days 1,572 sqft
    2019-09-01 89 days 1,564 sqft
    2019-10-01 93 days 1,567 sqft
    2019-11-01 93 days 1,600 sqft
    2019-12-01 102 days 1,600 sqft
    2020-01-01 115 days 1,568 sqft
    2020-02-01 126 days 1,498 sqft
    2020-03-01 127 days 1,491 sqft
    2020-04-01 136 days 1,462 sqft
    2020-05-01 144 days 1,502 sqft
    2020-06-01 117 days 1,565 sqft
    2020-07-01 73 days 1,472 sqft
    2020-08-01 72 days 1,539 sqft
    2020-09-01 83 days 1,478 sqft
    2020-10-01 77 days 1,468 sqft
    2020-11-01 83 days 1,458 sqft
    2020-12-01 100 days 1,484 sqft
    2021-01-01 109 days 1,456 sqft
    2021-02-01 110 days 1,472 sqft
    2021-03-01 108 days 1,316 sqft
    2021-04-01 78 days 1,350 sqft
    2021-05-01 41 days 1,410 sqft
    2021-06-01 40 days 1,546 sqft
    2021-07-01 45 days 1,556 sqft
    2021-08-01 47 days 1,502 sqft
    2021-09-01 52 days 1,493 sqft
    2021-10-01 57 days 1,478 sqft
    2021-11-01 62 days 1,461 sqft
    2021-12-01 71 days 1,481 sqft
    2022-01-01 87 days 1,516 sqft
    2022-02-01 89 days 1,453 sqft
    2022-03-01 62 days 1,478 sqft
    2022-04-01 45 days 1,495 sqft
    2022-05-01 50 days 1,534 sqft
    2022-06-01 39 days 1,468 sqft
    2022-07-01 40 days 1,543 sqft
    2022-08-01 45 days 1,489 sqft
    2022-09-01 0 days 1,530 sqft
    2022-10-01 0 days 1,511 sqft
    2022-11-01 0 days 1,600 sqft
    2022-12-01 0 days 1,580 sqft
    2023-01-01 0 days 1,468 sqft
    2023-02-01 0 days 1,560 sqft
    2023-03-01 0 days 1,513 sqft
    2023-04-01 0 days 1,597 sqft
    2023-05-01 0 days 1,489 sqft
    2023-06-01 0 days 1,532 sqft
    2023-07-01 0 days 1,560 sqft
    2023-08-01 0 days 1,589 sqft
    2023-09-01 0 days 1,560 sqft
    2023-10-01 0 days 1,515 sqft
    2023-11-01 0 days 1,460 sqft
    2023-12-01 0 days 1,450 sqft
    2024-01-01 0 days 1,417 sqft
    2024-02-01 0 days 1,428 sqft
    2024-03-01 0 days 1,430 sqft
    2024-04-01 0 days 1,477 sqft
    2024-05-01 0 days 1,490 sqft
    2024-06-01 0 days 1,575 sqft
    2024-07-01 0 days 1,600 sqft
    2024-08-01 0 days 1,545 sqft
    2024-09-01 0 days 1,519 sqft
    2024-10-01 0 days 1,466 sqft
    2024-11-01 0 days 1,536 sqft
    Johnstown's median listing age (time on market) for 2024-11-01 was 0 days.

    Johnstown's median square footage for active listings during the 2024-11-01 period was 1,536 sqft. One year prior, the average listing was 1,460 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).