Lebanon FHA Loans

LEBANON, PA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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).