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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.