Lebanon FHA Loans

LEBANON, 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.

Lebanon's 84 lenders originated 604 FHA loans during 2021. The total origination value was $104,530,000, with an average FHA loan value of $173,063.

Lebanon FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Lebanon averaged 5.1% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

The average rate for the prior week (2022-05-06) was 5.23% and one month ago for the week of 2022-04-08, the average rate was 5.1%.

The average rate one year ago was 3.31%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.06%.

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

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
EMM LOANS LLC 77 2.98% $7,413
QUICKEN LOANS, LLC 69 2.79% $6,465
CROSSCOUNTRY MORTGAGE, LLC 43 3.10% $7,842
FAMILY FIRST FUNDING LLC 27 3.28% $7,252
HOMESIDE FINANCIAL, LLC 22 3.03% $6,998
PENNYMAC LOAN SERVICES, LLC 20 3.02% $5,079
MEMBERS 1ST FEDERAL CREDIT UNION 15 2.74% $6,884
FREEDOM MORTGAGE CORPORATION 15 2.97% $4,874
LAKEVIEW LOAN SERVICING, LLC 15 3.14% $5,935
Mr. Cooper ( Nationstar Mortgage ) 13 3.31% $3,536
CALIBER HOME LOANS, INC. 11 3.06% $6,279
UNION HOME MORTGAGE CORP. 10 3.19% $8,007
RESIDENTIAL MORTGAGE SERVICES, INC. 9 3.08% $8,449
AmeriHome Mortgage Company, LLC 9 2.90% $6,168
LOANDEPOT.COM, LLC 9 3.12% $9,099
Sierra Pacific Mortgage Company, Inc. 8 2.80% $7,989
BROKER SOLUTIONS, INC. 8 3.19% $8,110
VILLAGE CAPITAL & INVESTMENT LLC 7 2.59% $3,714
GUILD MORTGAGE COMPANY 6 3.10% $5,864
HOMEBRIDGE FINANCIAL SERVICES, INC. 6 3.12% $7,710
AMERISAVE MORTGAGE CORPORATION 5 3.20% $7,861
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 3.15% $7,802
FIRST HERITAGE FINANCIAL, LLC 5 2.93% $5,227
NEWREZ LLC 5 2.75% $5,476
Bank of England 4 3.22% $7,146
Mortgage America, Inc. 4 2.94% $5,879
Paramount Residential Mortgage Group, Inc. 4 3.34% $8,983
Fulton Bank 4 3.05% $6,002
Northpointe Bank 4 3.28% $7,498
CONTOUR MORTGAGE CORPORATION 4 3.34% $7,073
Manufacturers and Traders Trust Company 3 2.50% $6,467
FINANCE OF AMERICA MORTGAGE LLC 3 2.92% $5,822
First Guaranty Mortgage Corporation 3 3.04% $7,552
SUCCESS MORTGAGE PARTNERS, INC. 3 3.42% $6,113
Citizens Bank 3 2.88% $9,378
HOME POINT FINANCIAL CORPORATION 3 2.58% $6,921
Homesale Mortgage, LLC 3 3.04% $8,298
MOVEMENT MORTGAGE, LLC 3 3.04% $8,493
NFM, INC. 2 3.19% $6,615
PLANET HOME LENDING, LLC 2 2.63% $6,082
AmRes Corporation 2 2.81% $9,613
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.12% $11,738
TIDEWATER MORTGAGE SERVICES, INC. 2 3.06% $10,824
HOWARD HANNA FINANCIAL SERVICES, INC. 2 3.00% $6,744
Customers Bank 2 2.98% $5,657
Keystone Funding, Inc. 2 2.75% $6,884
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.56% $9,343
ALLIED MORTGAGE GROUP, INC. 2 2.75% $9,037
GUARANTEED RATE, INC. 2 3.06% $7,435
UNITED WHOLESALE MORTGAGE, LLC 2 3.25% $6,636
ZILLOW HOME LOANS, LLC 1 2.88% $7,433
AMERICAN FINANCIAL NETWORK, INC. 1 2.63% $8,808
AMERICAN FINANCIAL RESOURCES, INC. 1 3.38% $8,341
AMERICAN FINANCING CORPORATION 1 2.25% $8,286
BAYSHORE MORTGAGE FUNDING, LLC 1 3.75% $9,007
Colonial Savings, F.A. 1 3.50% $6,757
DEVELOPER'S MORTGAGE COMPANY 1 3.13% $6,685
DRAPER AND KRAMER MORTGAGE CORP. 1 3.88% $6,527
Equity Prime Mortgage LLC 1 3.25% $7,205
Farmers and Merchants Trust Company of Chambersburg 1 2.63% $7,331
FIRST ALLIANCE HOME MORTGAGE, LLC 1 2.75% $6,811
First Federal Bank 1 2.88% $11,834
First Home Bank 1 2.75% $6,181
First National Bank of Pennsylvania 1 3.50% $7,273
Florida Capital Bank 1 2.63% $11,856
Gateway First Bank 1 3.63% $10,677
HOMESPIRE MORTGAGE CORPORATION 1 3.50% $8,587
InterContinental Capital Group, Inc 1 3.63% $8,757
Lakeview Community Capital, LLC 1 3.13% $5,350
LIBERTY HOME MORTGAGE CORPORATION 1 3.75% $9,592
LOANLEADERS OF AMERICA, INC. 1 3.13% $10,696
MEMBER FIRST MORTGAGE, LLC 1 3.25% $6,115
NATIONS DIRECT MORTGAGE, LLC 1 2.63% $6,418
NATIONWIDE MORTGAGE BANKERS, INC. 1 3.75% $9,339
NEW DAY FINANCIAL, LLC 1 3.25% $11,736
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.63% $9,748
Prosperity Home Mortgage, LLC 1 4.25% $9,399
Quaint Oak Mortgage, LLC 1 2.25% $4,967
Residential Mortgage Solutions, Inc. 1 2.88% $8,188
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.25% $9,755
Summit Mortgage Corporation 1 3.13% $7,140
The Ephrata National Bank 1 3.00% $9,256
York Traditions Bank 1 3.00% $8,075
ABSOLUTE HOME MORTGAGE CORPORATION 1 3.25% $3,599

The top Lebanon FHA lender as defined by loan originations is EMM LOANS LLC, with 77 FHA loans originated. Their average total fees are $7,413, which is $948 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Lebanon FHA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($3,536), FREEDOM MORTGAGE CORPORATION ($4,874), PENNYMAC LOAN SERVICES, LLC ($5,079), LAKEVIEW LOAN SERVICING, LLC ($5,935) and CALIBER HOME LOANS, INC. ($6,279).

The lowest rate Lebanon FHA lenders (with over 10 loans originated) are MEMBERS 1ST FEDERAL CREDIT UNION (2.74%), QUICKEN LOANS, LLC (2.79%), FREEDOM MORTGAGE CORPORATION (2.97%), EMM LOANS LLC (2.98%) and PENNYMAC LOAN SERVICES, LLC (3.02%).

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

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 $196,950 (-4.4%) $218,519 (-3.9%) 0.73 470
2018-02-01 $199,970 (-3.6%) $221,956 (-2.8%) 0.72 472
2018-03-01 $221,032 (5.1%) $243,240 (3.8%) 0.76 440
2018-04-01 $218,900 (3.3%) $249,898 (5.3%) 0.73 456
2018-05-01 $220,516 (3.3%) $256,085 (9.2%) 0.74 448
2018-06-01 $225,000 (5.2%) $264,605 (11.2%) 0.75 458
2018-07-01 $228,950 (6.0%) $268,696 (13.8%) 0.76 437
2018-08-01 $238,945 (10.7%) $271,473 (14.6%) 0.80 398
2018-09-01 $244,900 (12.9%) $272,983 (13.6%) 0.82 412
2018-10-01 $241,245 (11.2%) $264,591 (12.1%) 0.81 397
2018-11-01 $229,450 (15.3%) $252,671 (13.3%) 0.77 401
2018-12-01 $219,000 (12.4%) $250,825 (14.0%) 0.75 381
2019-01-01 $212,450 (7.9%) $247,705 (13.4%) 0.73 349
2019-02-01 $222,500 (11.3%) $267,171 (20.4%) 0.75 326
2019-03-01 $228,057 (3.2%) $263,828 (8.5%) 0.74 304
2019-04-01 $238,800 (9.1%) $256,060 (2.5%) 0.75 299
2019-05-01 $246,278 (11.7%) $254,860 (-0.5%) 0.76 293
2019-06-01 $239,900 (6.6%) $261,812 (-1.1%) 0.74 307
2019-07-01 $239,900 (4.8%) $259,952 (-3.3%) 0.75 339
2019-08-01 $245,854 (2.9%) $261,764 (-3.6%) 0.77 324
2019-09-01 $251,900 (2.9%) $265,935 (-2.6%) 0.80 313
2019-10-01 $261,000 (8.2%) $267,591 (1.1%) 0.83 307
2019-11-01 $250,000 (9.0%) $267,333 (5.8%) 0.81 298
2019-12-01 $252,728 (15.4%) $268,808 (7.2%) 0.84 276
2020-01-01 $244,350 (15.0%) $270,277 (9.1%) 0.81 240
2020-02-01 $263,150 (18.3%) $271,736 (1.7%) 0.85 222
2020-03-01 $275,350 (20.7%) $288,130 (9.2%) 0.86 211
2020-04-01 $272,700 (14.2%) $299,019 (16.8%) 0.85 195
2020-05-01 $271,500 (10.2%) $296,414 (16.3%) 0.82 197
2020-06-01 $247,500 (3.2%) $285,110 (8.9%) 0.72 202
2020-07-01 $259,900 (8.3%) $302,271 (16.3%) 0.74 185
2020-08-01 $253,000 (2.9%) $298,624 (14.1%) 0.72 163
2020-09-01 $263,028 (4.4%) $293,903 (10.5%) 0.75 167
2020-10-01 $266,556 (2.1%) $291,612 (9.0%) 0.76 153
2020-11-01 $266,450 (6.6%) $289,136 (8.2%) 0.76 137
2020-12-01 $239,950 (-5.1%) $286,698 (6.7%) 0.70 119
2021-01-01 $276,900 (13.3%) $309,777 (14.6%) 0.81 101
2021-02-01 $285,400 (8.5%) $355,805 (30.9%) 0.82 80
2021-03-01 $274,900 (-0.2%) $347,007 (20.4%) 0.77 86
2021-04-01 $287,352 (5.4%) $347,182 (16.1%) 0.77 77
2021-05-01 $270,000 (-0.6%) $314,567 (6.1%) 0.71 89
2021-06-01 $254,950 (3.0%) $293,964 (3.1%) 0.66 124
2021-07-01 $224,900 (-13.5%) $281,799 (-6.8%) 0.58 128
2021-08-01 $224,950 (-11.1%) $270,846 (-9.3%) 0.59 150
2021-09-01 $227,000 (-13.7%) $292,288 (-0.6%) 0.60 137
2021-10-01 $225,000 (-15.6%) $298,922 (2.5%) 0.59 143
2021-11-01 $259,950 (-2.4%) $301,763 (4.4%) 0.69 126
2021-12-01 $279,495 (16.5%) $315,982 (10.2%) 0.75 110
2022-01-01 $303,990 (9.8%) $332,493 (7.3%) 0.81 88
2022-02-01 $309,900 (8.6%) $344,926 (-3.1%) 0.79 83
2022-03-01 $342,495 (24.6%) $347,486 (0.1%) 0.85 91
2022-04-01 $364,900 (27.0%) $384,282 (10.7%) 0.86 92
Lebanon's median listing price for 2022-04-01 was $364,900, a difference of $77,548 (27.0%) versus the prior year and $22,405 versus the prior month.

Lebanon's median listing price comes in at 86% of the national average.

Lebanon's average listing price for 2022-04-01 was $384,282, a difference of $37,100 (10.7%) versus the prior year and $36,796 versus the prior month.

For the 2022-04-01 period, Lebanon had 92 MLS listings, a difference of 1 listings (1%) versus the prior month and 15 listings (19%) 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
2018-01-01 107 days 1,702 sqft
2018-02-01 122 days 1,699 sqft
2018-03-01 116 days 1,794 sqft
2018-04-01 79 days 1,760 sqft
2018-05-01 75 days 1,760 sqft
2018-06-01 82 days 1,948 sqft
2018-07-01 87 days 1,955 sqft
2018-08-01 86 days 1,944 sqft
2018-09-01 87 days 1,955 sqft
2018-10-01 97 days 1,935 sqft
2018-11-01 95 days 1,903 sqft
2018-12-01 109 days 1,900 sqft
2019-01-01 112 days 1,904 sqft
2019-02-01 129 days 1,924 sqft
2019-03-01 102 days 1,926 sqft
2019-04-01 45 days 1,936 sqft
2019-05-01 49 days 1,899 sqft
2019-06-01 55 days 1,940 sqft
2019-07-01 58 days 1,895 sqft
2019-08-01 59 days 1,926 sqft
2019-09-01 69 days 1,988 sqft
2019-10-01 72 days 2,066 sqft
2019-11-01 72 days 2,040 sqft
2019-12-01 79 days 2,025 sqft
2020-01-01 87 days 2,022 sqft
2020-02-01 87 days 2,043 sqft
2020-03-01 62 days 2,036 sqft
2020-04-01 71 days 2,017 sqft
2020-05-01 84 days 1,980 sqft
2020-06-01 73 days 1,994 sqft
2020-07-01 54 days 2,014 sqft
2020-08-01 51 days 1,960 sqft
2020-09-01 37 days 1,865 sqft
2020-10-01 60 days 1,780 sqft
2020-11-01 65 days 1,852 sqft
2020-12-01 54 days 1,730 sqft
2021-01-01 70 days 1,770 sqft
2021-02-01 73 days 1,945 sqft
2021-03-01 47 days 1,796 sqft
2021-04-01 35 days 1,822 sqft
2021-05-01 42 days 1,836 sqft
2021-06-01 31 days 1,788 sqft
2021-07-01 37 days 1,555 sqft
2021-08-01 41 days 1,578 sqft
2021-09-01 44 days 1,648 sqft
2021-10-01 39 days 1,621 sqft
2021-11-01 46 days 1,660 sqft
2021-12-01 60 days 1,658 sqft
2022-01-01 80 days 1,728 sqft
2022-02-01 66 days 1,781 sqft
2022-03-01 50 days 1,784 sqft
2022-04-01 46 days 1,880 sqft
Lebanon's median listing age (time on market) for 2022-04-01 was 46 days. This is 33% longer than the same period one year ago.

Lebanon's median square footage for active listings during the 2022-04-01 period was 1,880 sqft. One year prior, the average listing was 1,822 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).