Lewisburg FHA Loan Rates, Closing Costs & Stats

Lewisburg, 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.

    Lewisburg's 12 lenders originated 30 FHA loans during 2023. The total origination value was $6,200,000, with an average FHA loan value of $206,667.

    Lewisburg FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lewisburg averaged 6.64% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

    Lewisburg's average FHA mortgage closing costs are $7,933.

    The average rate for the prior week (2024-04-05) was 6.57% and one month ago for the week of 2024-03-08, the average rate was 6.5%.

    The average rate one year ago was 6.34%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.74%.

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

    Lewisburg 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 Lewisburg level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 8 6.34% $11,980
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.40% $12,665
    Citizens Bank 3 6.17% $9,214
    ALLIED MORTGAGE GROUP, INC. 3 6.13% $9,783
    BROKER SOLUTIONS, INC. 2 7.19% $10,860
    MYCUMORTGAGE, LLC 1 6.63% $6,620
    ROYAL UNITED MORTGAGE LLC 1 7.25% $10,599
    UNITED WHOLESALE MORTGAGE, LLC 1 5.13% $18,332
    AMERISAVE MORTGAGE CORPORATION 1 5.63% $9,211
    EMM LOANS LLC 1 6.50% $12,265
    Flagstar Bank, FSB 1 6.75% $13,030
    GUILD MORTGAGE COMPANY 1 6.13% $18,691

    The top Lewisburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 8 FHA loans originated. Their average total fees are $11,980, which is $685 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

    The lowest fee Lewisburg FHA lenders (with over 10 loans originated) are .

    The lowest rate Lewisburg FHA lenders (with over 10 loans originated) are .

    Lewisburg FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lewisburg (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 $218,675 (3.2%) $269,799 (-0.4%) 0.00 160
    2018-02-01 $244,725 (10.0%) $279,444 (-0.3%) 0.00 146
    2018-03-01 $249,900 (13.6%) $292,836 (5.0%) 0.00 150
    2018-04-01 $254,675 (15.8%) $290,923 (6.0%) 0.00 158
    2018-05-01 $249,900 (13.0%) $282,703 (0.0%) 0.00 151
    2018-06-01 $261,900 (14.2%) $288,077 (0.3%) 0.00 142
    2018-07-01 $254,175 (10.6%) $288,744 (3.5%) 0.00 142
    2018-08-01 $249,750 (8.6%) $295,853 (9.6%) 0.00 154
    2018-09-01 $244,000 (1.7%) $289,144 (5.7%) 0.00 169
    2018-10-01 $249,900 (3.3%) $296,198 (7.8%) 0.00 166
    2018-11-01 $241,225 (6.6%) $285,931 (6.2%) 0.00 150
    2018-12-01 $248,950 (13.2%) $297,491 (9.9%) 0.00 130
    2019-01-01 $249,900 (14.3%) $300,641 (11.4%) 0.00 129
    2019-02-01 $249,900 (2.1%) $305,268 (9.2%) 0.00 128
    2019-03-01 $247,071 (-1.1%) $302,991 (3.5%) 0.00 137
    2019-04-01 $247,796 (-2.7%) $302,098 (3.8%) 0.00 155
    2019-05-01 $253,950 (1.6%) $302,985 (7.2%) 0.00 168
    2019-06-01 $263,900 (0.8%) $312,070 (8.3%) 0.00 160
    2019-07-01 $258,675 (1.8%) $311,175 (7.8%) 0.00 162
    2019-08-01 $255,418 (2.3%) $315,114 (6.5%) 0.00 158
    2019-09-01 $252,370 (3.4%) $321,333 (11.1%) 0.00 154
    2019-10-01 $250,339 (0.2%) $325,480 (9.9%) 0.00 149
    2019-11-01 $249,000 (3.2%) $325,102 (13.7%) 0.00 134
    2019-12-01 $249,925 (0.4%) $344,649 (15.9%) 0.00 113
    2020-01-01 $264,975 (6.0%) $341,495 (13.6%) 0.00 102
    2020-02-01 $300,000 (20.1%) $366,769 (20.2%) 0.00 97
    2020-03-01 $288,625 (16.8%) $350,544 (15.7%) 0.00 102
    2020-04-01 $279,900 (13.0%) $348,331 (15.3%) 0.00 103
    2020-05-01 $293,250 (15.5%) $354,411 (17.0%) 0.00 104
    2020-06-01 $294,450 (11.6%) $398,323 (27.6%) 0.00 98
    2020-07-01 $299,225 (15.7%) $387,523 (24.5%) 0.00 101
    2020-08-01 $289,700 (13.4%) $398,673 (26.5%) 0.00 99
    2020-09-01 $287,925 (14.1%) $392,611 (22.2%) 0.00 93
    2020-10-01 $265,700 (6.1%) $384,023 (18.0%) 0.00 77
    2020-11-01 $258,025 (3.6%) $391,732 (20.5%) 0.00 65
    2020-12-01 $261,400 (4.6%) $368,270 (6.9%) 0.00 52
    2021-01-01 $290,950 (9.8%) $391,757 (14.7%) 0.00 46
    2021-02-01 $296,975 (-1.0%) $402,375 (9.7%) 0.00 37
    2021-03-01 $289,900 (0.4%) $416,300 (18.8%) 0.00 40
    2021-04-01 $312,400 (11.6%) $426,302 (22.4%) 0.00 46
    2021-05-01 $325,000 (10.8%) $439,845 (24.1%) 0.00 40
    2021-06-01 $289,900 (-1.6%) $418,808 (5.1%) 0.00 41
    2021-07-01 $289,900 (-3.1%) $400,740 (3.4%) 0.00 55
    2021-08-01 $289,423 (-0.1%) $376,082 (-5.7%) 0.00 55
    2021-09-01 $290,220 (0.8%) $392,709 (0.0%) 0.00 58
    2021-10-01 $299,000 (12.5%) $387,240 (0.8%) 0.00 49
    2021-11-01 $310,250 (20.2%) $393,745 (0.5%) 0.00 44
    2021-12-01 $306,725 (17.3%) $434,931 (18.1%) 0.00 37
    2022-01-01 $309,000 (6.2%) $436,879 (11.5%) 0.00 34
    2022-02-01 $326,748 (10.0%) $444,715 (10.5%) 0.00 32
    2022-03-01 $324,990 (12.1%) $453,473 (8.9%) 0.00 36
    2022-04-01 $349,900 (12.0%) $503,994 (18.2%) 0.00 35
    2022-05-01 $349,900 (7.7%) $808,397 (83.8%) 0.00 42
    2022-06-01 $360,850 (24.5%) $780,232 (86.3%) 0.00 51
    2022-07-01 $349,900 (20.7%) $789,995 (97.1%) 0.00 52
    2022-08-01 $349,450 (20.7%) $675,628 (79.7%) 0.00 51
    2022-09-01 $349,675 (20.5%) $606,994 (54.6%) 0.00 53
    2022-10-01 $349,900 (17.0%) $515,939 (33.2%) 0.00 55
    2022-11-01 $349,675 (12.7%) $503,282 (27.8%) 0.00 55
    2022-12-01 $349,900 (14.1%) $543,467 (25.0%) 0.00 41
    2023-01-01 $349,900 (13.2%) $539,745 (23.6%) 0.00 37
    2023-02-01 $349,900 (7.1%) $542,327 (22.0%) 0.00 38
    2023-03-01 $340,350 (4.7%) $503,193 (11.0%) 0.00 49
    2023-04-01 $331,200 (-5.3%) $492,189 (-2.3%) 0.00 44
    2023-05-01 $332,000 (-5.1%) $502,180 (-37.9%) 0.00 43
    2023-06-01 $329,950 (-8.6%) $512,732 (-34.3%) 0.00 44
    2023-07-01 $309,900 (-11.4%) $491,153 (-37.8%) 0.00 48
    2023-08-01 $299,450 (-14.3%) $471,177 (-30.3%) 0.00 51
    2023-09-01 $336,950 (-3.6%) $492,944 (-18.8%) 0.00 54
    2023-10-01 $312,500 (-10.7%) $478,160 (-7.3%) 0.00 56
    2023-11-01 $349,950 (0.1%) $568,095 (12.9%) 0.00 46
    2023-12-01 $452,000 (29.2%) $638,741 (17.5%) 0.00 39
    2024-01-01 $468,250 (33.8%) $650,717 (20.6%) 0.00 38
    2024-02-01 $439,000 (25.5%) $578,413 (6.7%) 0.00 38
    2024-03-01 $479,000 (40.7%) $636,719 (26.5%) 0.00 43
    Lewisburg's median listing price for 2024-03-01 was $479,000, a difference of $138,650 (40.7%) versus the prior year and $40,000 versus the prior month.

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

    Lewisburg's average listing price for 2024-03-01 was $636,719, a difference of $133,526 (26.5%) versus the prior year and $58,306 versus the prior month.

    For the 2024-03-01 period, Lewisburg had 43 MLS listings, a difference of 5 listings (13%) versus the prior month and -6 listings (-12%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lewisburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,965 sqft
    2018-02-01 0 days 2,011 sqft
    2018-03-01 0 days 2,141 sqft
    2018-04-01 0 days 2,172 sqft
    2018-05-01 0 days 2,163 sqft
    2018-06-01 0 days 2,142 sqft
    2018-07-01 0 days 2,124 sqft
    2018-08-01 0 days 2,091 sqft
    2018-09-01 0 days 2,028 sqft
    2018-10-01 0 days 2,031 sqft
    2018-11-01 0 days 2,016 sqft
    2018-12-01 0 days 2,048 sqft
    2019-01-01 0 days 2,029 sqft
    2019-02-01 0 days 2,065 sqft
    2019-03-01 0 days 2,066 sqft
    2019-04-01 0 days 2,067 sqft
    2019-05-01 0 days 2,187 sqft
    2019-06-01 0 days 2,236 sqft
    2019-07-01 0 days 2,212 sqft
    2019-08-01 0 days 2,134 sqft
    2019-09-01 0 days 2,100 sqft
    2019-10-01 0 days 2,077 sqft
    2019-11-01 0 days 2,030 sqft
    2019-12-01 0 days 2,084 sqft
    2020-01-01 0 days 2,270 sqft
    2020-02-01 0 days 2,369 sqft
    2020-03-01 0 days 2,345 sqft
    2020-04-01 0 days 2,337 sqft
    2020-05-01 0 days 2,302 sqft
    2020-06-01 0 days 2,145 sqft
    2020-07-01 0 days 2,248 sqft
    2020-08-01 0 days 2,054 sqft
    2020-09-01 0 days 2,053 sqft
    2020-10-01 0 days 2,014 sqft
    2020-11-01 0 days 2,096 sqft
    2020-12-01 0 days 2,120 sqft
    2021-01-01 0 days 1,961 sqft
    2021-02-01 0 days 1,934 sqft
    2021-03-01 0 days 1,925 sqft
    2021-04-01 0 days 1,970 sqft
    2021-05-01 0 days 2,067 sqft
    2021-06-01 0 days 1,803 sqft
    2021-07-01 0 days 1,800 sqft
    2021-08-01 0 days 1,789 sqft
    2021-09-01 0 days 1,874 sqft
    2021-10-01 0 days 1,900 sqft
    2021-11-01 0 days 1,865 sqft
    2021-12-01 0 days 1,873 sqft
    2022-01-01 0 days 1,840 sqft
    2022-02-01 0 days 1,873 sqft
    2022-03-01 0 days 2,025 sqft
    2022-04-01 0 days 1,984 sqft
    2022-05-01 0 days 2,032 sqft
    2022-06-01 0 days 2,108 sqft
    2022-07-01 0 days 2,098 sqft
    2022-08-01 0 days 1,979 sqft
    2022-09-01 0 days 2,000 sqft
    2022-10-01 0 days 2,072 sqft
    2022-11-01 0 days 2,131 sqft
    2022-12-01 0 days 2,133 sqft
    2023-01-01 0 days 2,131 sqft
    2023-02-01 0 days 2,213 sqft
    2023-03-01 0 days 2,054 sqft
    2023-04-01 0 days 2,201 sqft
    2023-05-01 0 days 2,180 sqft
    2023-06-01 0 days 2,150 sqft
    2023-07-01 0 days 2,152 sqft
    2023-08-01 0 days 2,141 sqft
    2023-09-01 0 days 2,048 sqft
    2023-10-01 0 days 2,112 sqft
    2023-11-01 0 days 2,372 sqft
    2023-12-01 0 days 2,544 sqft
    2024-01-01 0 days 2,582 sqft
    2024-02-01 0 days 2,582 sqft
    2024-03-01 0 days 2,656 sqft
    Lewisburg's median listing age (time on market) for 2024-03-01 was 0 days.

    Lewisburg's median square footage for active listings during the 2024-03-01 period was 2,656 sqft. One year prior, the average listing was 2,054 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).