Lebanon FHA Loan Rates, Closing Costs & Stats

LEBANON, 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.

    Lebanon's 60 lenders originated 254 FHA loans during 2023. The total origination value was $52,680,000, with an average FHA loan value of $207,402.

    Lebanon FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lebanon averaged 6.75% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Lebanon's average FHA mortgage closing costs are $7,477.

    The average rate for the prior week (2024-04-12) was 6.95% and one month ago for the week of 2024-03-15, the average rate was 6.61%.

    The average rate one year ago was 6.24%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.94%.

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

    Lebanon 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 Lebanon level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    CROSSCOUNTRY MORTGAGE, LLC 30 6.75% $10,369
    EMM LOANS LLC 27 6.63% $9,800
    QUICKEN LOANS, LLC 26 6.32% $9,801
    UNITED WHOLESALE MORTGAGE, LLC 11 6.08% $13,571
    BROKER SOLUTIONS, INC. 9 6.47% $10,249
    LOANDEPOT.COM, LLC 8 6.25% $13,502
    GUILD MORTGAGE COMPANY 7 6.66% $9,271
    NEWREZ LLC 7 6.79% $12,953
    Mortgage America, Inc. 5 6.33% $9,739
    AMERISAVE MORTGAGE CORPORATION 5 5.85% $12,599
    Mr. Cooper ( Nationstar Mortgage ) 5 5.83% $13,776
    FREEDOM MORTGAGE CORPORATION 4 6.81% $12,964
    LAKEVIEW LOAN SERVICING, LLC 4 6.59% $9,222
    Northpointe Bank 4 6.28% $12,993
    M&T Bank 4 6.19% $7,383
    Equity Prime Mortgage LLC 4 6.78% $10,010
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.56% $9,367
    PLAZA HOME MORTGAGE, INC. 3 6.25% $12,892
    GUARANTEED RATE AFFINITY, LLC 3 6.83% $14,602
    Citizens Bank 3 6.46% $8,026
    Carrington Mortgage Services, LLC 3 5.92% $13,139
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.56% $7,786
    ALLIED MORTGAGE GROUP, INC. 2 7.31% $10,262
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.44% $10,468
    Customers Bank 2 6.56% $7,315
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.56% $20,178
    HOWARD HANNA FINANCIAL SERVICES, INC. 2 7.00% $12,043
    LOANPAL, LLC 2 5.44% $11,318
    MORTGAGE ACCESS CORP. 2 6.88% $17,148
    Mortgage Research Center, LLC 2 6.69% $8,869
    PENNYMAC LOAN SERVICES, LLC 2 6.38% $11,355
    Sierra Pacific Mortgage Company, Inc. 2 6.50% $11,461
    SUCCESS MORTGAGE PARTNERS, INC. 2 7.44% $10,856
    SUN WEST MORTGAGE COMPANY, INC. 2 6.06% $20,848
    Farmers and Merchants Trust Company of Chambersburg 1 7.50% $8,025
    T2 FINANCIAL LLC 1 7.50% $6,759
    CMG MORTGAGE, INC. 1 7.00% $13,358
    CHERRY CREEK MORTGAGE, LLC 1 7.13% $3,827
    NATIONS DIRECT MORTGAGE, LLC 1 6.75% $20,702
    Nations Lending Corporation 1 6.25% $9,438
    NATIONWIDE MORTGAGE BANKERS, INC. 1 5.75% $9,224
    BETTER MORTGAGE CORPORATION 1 5.75% $16,270
    NFM, INC. 1 7.25% $10,336
    ABSOLUTE HOME MORTGAGE CORPORATION 1 6.75% $16,338
    TIDEWATER MORTGAGE SERVICES, INC. 1 7.88% $14,553
    Plains Commerce Bank 1 6.25% $14,296
    PLANET HOME LENDING, LLC 1 5.50% $7,097
    ARC HOME LLC 1 7.63% $9,567
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $10,957
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.75% $6,988
    RADIUS FINANCIAL GROUP INC. 1 6.75% $7,290
    GSF Mortgage Corporation 1 7.13% $11,087
    GUARANTEED RATE, INC. 1 7.50% $8,187
    GENEVA FINANCIAL, LLC 1 7.75% $21,929
    RESIDENTIAL HOME MORTGAGE CORPORATION 1 6.25% $17,096
    TOP FLITE FINANCIAL, INC. 1 7.63% $9,862
    Fulton Bank 1 6.63% $6,723
    FIRST HERITAGE FINANCIAL, LLC 1 5.49% $7,237
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $15,752
    Wells Fargo Bank 1 5.88% $12,222

    The top Lebanon FHA lender as defined by loan originations is CROSSCOUNTRY MORTGAGE, LLC, with 30 FHA loans originated. Their average total fees are $10,369, which is $569 higher than the next largest lender, EMM LOANS LLC.

    The lowest fee Lebanon FHA lenders (with over 10 loans originated) are EMM LOANS LLC ($9,800), QUICKEN LOANS, LLC ($9,801), CROSSCOUNTRY MORTGAGE, LLC ($10,369), UNITED WHOLESALE MORTGAGE, LLC ($13,571) and .

    The lowest rate Lebanon FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.08%), QUICKEN LOANS, LLC (6.32%), EMM LOANS LLC (6.63%), CROSSCOUNTRY MORTGAGE, LLC (6.75%) and .

    Lebanon FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lebanon (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 $199,800 (-2.0%) $223,202 (1.0%) 0.74 465
    2018-02-01 $203,560 (0.7%) $223,328 (1.3%) 0.74 459
    2018-03-01 $222,900 (7.7%) $243,081 (6.5%) 0.78 437
    2018-04-01 $218,300 (4.0%) $247,799 (6.7%) 0.74 453
    2018-05-01 $220,475 (4.9%) $255,461 (11.2%) 0.73 449
    2018-06-01 $224,900 (7.3%) $261,679 (13.9%) 0.75 463
    2018-07-01 $228,600 (8.4%) $264,785 (15.4%) 0.76 447
    2018-08-01 $242,050 (15.3%) $269,965 (18.8%) 0.81 413
    2018-09-01 $244,900 (16.6%) $270,133 (17.5%) 0.82 419
    2018-10-01 $241,345 (14.7%) $265,116 (16.9%) 0.82 410
    2018-11-01 $229,900 (15.0%) $252,692 (12.4%) 0.78 413
    2018-12-01 $218,000 (9.1%) $249,524 (10.2%) 0.75 395
    2019-01-01 $213,950 (7.1%) $247,518 (10.9%) 0.74 360
    2019-02-01 $230,448 (13.2%) $264,013 (18.2%) 0.78 338
    2019-03-01 $236,761 (6.2%) $262,780 (8.1%) 0.77 314
    2019-04-01 $244,725 (12.1%) $258,263 (4.2%) 0.78 315
    2019-05-01 $249,700 (13.3%) $259,482 (1.6%) 0.78 306
    2019-06-01 $245,900 (9.3%) $268,584 (2.6%) 0.77 328
    2019-07-01 $246,611 (7.9%) $264,745 (0.0%) 0.77 363
    2019-08-01 $253,173 (4.6%) $268,432 (-0.6%) 0.80 353
    2019-09-01 $260,332 (6.3%) $273,582 (1.3%) 0.83 339
    2019-10-01 $264,605 (9.6%) $274,912 (3.7%) 0.85 324
    2019-11-01 $263,900 (14.8%) $273,193 (8.1%) 0.87 313
    2019-12-01 $255,556 (17.2%) $271,294 (8.7%) 0.85 291
    2020-01-01 $249,900 (16.8%) $272,976 (10.3%) 0.84 252
    2020-02-01 $258,556 (12.2%) $277,820 (5.2%) 0.85 230
    2020-03-01 $272,350 (15.0%) $287,944 (9.6%) 0.86 210
    2020-04-01 $264,228 (8.0%) $298,970 (15.8%) 0.84 192
    2020-05-01 $258,678 (3.6%) $298,985 (15.2%) 0.79 195
    2020-06-01 $252,114 (2.5%) $293,575 (9.3%) 0.74 201
    2020-07-01 $256,175 (3.9%) $303,547 (14.7%) 0.75 177
    2020-08-01 $247,300 (-2.3%) $297,896 (11.0%) 0.71 155
    2020-09-01 $251,250 (-3.5%) $294,152 (7.5%) 0.72 158
    2020-10-01 $248,900 (-5.9%) $288,333 (4.9%) 0.71 147
    2020-11-01 $254,656 (-3.5%) $288,210 (5.5%) 0.75 127
    2020-12-01 $219,225 (-14.2%) $282,711 (4.2%) 0.66 109
    2021-01-01 $269,950 (8.0%) $316,282 (15.9%) 0.82 94
    2021-02-01 $281,882 (9.0%) $361,812 (30.2%) 0.82 75
    2021-03-01 $251,125 (-7.8%) $337,480 (17.2%) 0.71 82
    2021-04-01 $275,325 (4.2%) $345,332 (15.5%) 0.75 70
    2021-05-01 $250,250 (-3.3%) $314,682 (5.3%) 0.67 82
    2021-06-01 $238,000 (-5.6%) $291,813 (-0.6%) 0.63 112
    2021-07-01 $212,000 (-17.2%) $274,771 (-9.5%) 0.56 120
    2021-08-01 $210,405 (-14.9%) $259,506 (-12.9%) 0.57 138
    2021-09-01 $224,900 (-10.5%) $290,557 (-1.2%) 0.60 130
    2021-10-01 $220,000 (-11.6%) $294,432 (2.1%) 0.59 135
    2021-11-01 $233,625 (-8.3%) $301,578 (4.6%) 0.63 119
    2021-12-01 $243,725 (11.2%) $310,367 (9.8%) 0.67 101
    2022-01-01 $269,900 (0.0%) $330,990 (4.7%) 0.73 80
    2022-02-01 $264,950 (-6.0%) $338,432 (-6.5%) 0.69 72
    2022-03-01 $296,325 (18.0%) $342,994 (1.6%) 0.74 79
    2022-04-01 $337,450 (22.6%) $384,382 (11.3%) 0.80 84
    2022-05-01 $315,925 (26.2%) $379,538 (20.6%) 0.72 100
    2022-06-01 $299,950 (26.0%) $378,755 (29.8%) 0.67 115
    2022-07-01 $291,450 (37.5%) $351,234 (27.8%) 0.66 124
    2022-08-01 $295,000 (40.2%) $350,294 (35.0%) 0.68 131
    2022-09-01 $325,950 (44.9%) $351,295 (20.9%) 0.76 147
    2022-10-01 $349,163 (58.7%) $349,992 (18.9%) 0.82 151
    2022-11-01 $344,123 (47.3%) $348,090 (15.4%) 0.83 144
    2022-12-01 $366,450 (50.4%) $366,437 (18.1%) 0.90 111
    2023-01-01 $389,875 (44.5%) $384,889 (16.3%) 0.97 101
    2023-02-01 $376,928 (42.3%) $362,870 (7.2%) 0.91 114
    2023-03-01 $372,428 (25.7%) $356,119 (3.8%) 0.88 120
    2023-04-01 $379,900 (12.6%) $397,696 (3.5%) 0.88 126
    2023-05-01 $384,750 (21.8%) $429,681 (13.2%) 0.87 135
    2023-06-01 $387,000 (29.0%) $421,732 (11.4%) 0.87 144
    2023-07-01 $380,950 (30.7%) $416,746 (18.7%) 0.87 136
    2023-08-01 $387,500 (31.4%) $418,290 (19.4%) 0.89 141
    2023-09-01 $372,400 (14.3%) $388,150 (10.5%) 0.87 145
    2023-10-01 $368,445 (5.5%) $375,810 (7.4%) 0.87 146
    2023-11-01 $366,741 (6.6%) $363,370 (4.4%) 0.87 145
    2023-12-01 $370,000 (1.0%) $368,483 (0.6%) 0.00 155
    2024-01-01 $369,698 (-5.2%) $368,695 (-4.2%) 0.00 152
    2024-02-01 $371,969 (-1.3%) $375,530 (3.5%) 0.00 159
    2024-03-01 $373,600 (0.3%) $385,674 (8.3%) 0.00 163
    Lebanon's median listing price for 2024-03-01 was $373,600, a difference of $1,172 (0.3%) versus the prior year and $1,631 versus the prior month.

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

    Lebanon's average listing price for 2024-03-01 was $385,674, a difference of $29,555 (8.3%) versus the prior year and $10,144 versus the prior month.

    For the 2024-03-01 period, Lebanon had 163 MLS listings, a difference of 4 listings (3%) versus the prior month and 43 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lebanon (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 84 days 1,715 sqft
    2018-02-01 91 days 1,708 sqft
    2018-03-01 75 days 1,792 sqft
    2018-04-01 57 days 1,756 sqft
    2018-05-01 52 days 1,759 sqft
    2018-06-01 61 days 1,933 sqft
    2018-07-01 65 days 1,961 sqft
    2018-08-01 64 days 1,962 sqft
    2018-09-01 63 days 1,972 sqft
    2018-10-01 69 days 1,936 sqft
    2018-11-01 73 days 1,904 sqft
    2018-12-01 79 days 1,893 sqft
    2019-01-01 84 days 1,889 sqft
    2019-02-01 100 days 1,902 sqft
    2019-03-01 71 days 1,907 sqft
    2019-04-01 34 days 1,911 sqft
    2019-05-01 39 days 1,870 sqft
    2019-06-01 42 days 1,893 sqft
    2019-07-01 43 days 1,885 sqft
    2019-08-01 48 days 1,946 sqft
    2019-09-01 54 days 2,020 sqft
    2019-10-01 59 days 2,077 sqft
    2019-11-01 62 days 2,078 sqft
    2019-12-01 67 days 2,048 sqft
    2020-01-01 67 days 2,045 sqft
    2020-02-01 63 days 2,040 sqft
    2020-03-01 52 days 2,011 sqft
    2020-04-01 65 days 2,011 sqft
    2020-05-01 74 days 1,982 sqft
    2020-06-01 37 days 2,024 sqft
    2020-07-01 39 days 2,031 sqft
    2020-08-01 38 days 1,984 sqft
    2020-09-01 27 days 1,876 sqft
    2020-10-01 43 days 1,818 sqft
    2020-11-01 45 days 1,901 sqft
    2020-12-01 50 days 1,715 sqft
    2021-01-01 57 days 1,770 sqft
    2021-02-01 53 days 1,956 sqft
    2021-03-01 32 days 1,812 sqft
    2021-04-01 27 days 1,861 sqft
    2021-05-01 28 days 1,831 sqft
    2021-06-01 22 days 1,770 sqft
    2021-07-01 30 days 1,544 sqft
    2021-08-01 33 days 1,560 sqft
    2021-09-01 32 days 1,629 sqft
    2021-10-01 34 days 1,621 sqft
    2021-11-01 39 days 1,668 sqft
    2021-12-01 47 days 1,637 sqft
    2022-01-01 56 days 1,712 sqft
    2022-02-01 37 days 1,773 sqft
    2022-03-01 36 days 1,796 sqft
    2022-04-01 32 days 1,931 sqft
    2022-05-01 21 days 1,879 sqft
    2022-06-01 26 days 1,924 sqft
    2022-07-01 31 days 1,830 sqft
    2022-08-01 35 days 1,812 sqft
    2022-09-01 30 days 1,877 sqft
    2022-10-01 38 days 1,871 sqft
    2022-11-01 48 days 1,847 sqft
    2022-12-01 65 days 1,924 sqft
    2023-01-01 88 days 1,933 sqft
    2023-02-01 51 days 1,830 sqft
    2023-03-01 49 days 1,808 sqft
    2023-04-01 55 days 1,940 sqft
    2023-05-01 43 days 1,993 sqft
    2023-06-01 50 days 1,998 sqft
    2023-07-01 65 days 1,970 sqft
    2023-08-01 59 days 1,959 sqft
    2023-09-01 36 days 1,896 sqft
    2023-10-01 43 days 1,903 sqft
    2023-11-01 42 days 1,888 sqft
    2023-12-01 0 days 1,874 sqft
    2024-01-01 0 days 1,909 sqft
    2024-02-01 0 days 1,913 sqft
    2024-03-01 0 days 1,940 sqft
    Lebanon's median listing age (time on market) for 2024-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Lebanon's median square footage for active listings during the 2024-03-01 period was 1,940 sqft. One year prior, the average listing was 1,808 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).