Lewistown FHA Loan Rates, Closing Costs & Stats

Lewistown, 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.

    Lewistown's 27 lenders originated 78 FHA loans during 2023. The total origination value was $11,210,000, with an average FHA loan value of $143,718.

    Lewistown FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lewistown averaged 6.12% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Lewistown's average FHA mortgage closing costs are $6,574.

    The average rate for the prior week (2024-12-06) was 6.19% and one month ago for the week of 2024-11-08, the average rate was 6.16%.

    The average rate one year ago was 6.97%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

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

    Lewistown 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 Lewistown level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 21 6.41% $7,818
    Equity Prime Mortgage LLC 7 6.86% $8,641
    Citizens Bank 4 6.03% $6,732
    Plains Commerce Bank 3 6.50% $8,677
    FREEDOM MORTGAGE CORPORATION 2 7.25% $9,067
    Century Mortgage Company DBA Century Lending Company 2 5.69% $9,599
    Mr. Cooper ( Nationstar Mortgage ) 2 6.63% $8,739
    CARDINAL FINANCIAL 2 6.44% $11,285
    PLAZA HOME MORTGAGE, INC. 2 6.25% $12,084
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $8,847
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.50% $11,677
    NORWICH COMMERCIAL GROUP, INC. 1 6.13% $8,946
    PNC Bank 1 6.63% $5,566
    ROYAL UNITED MORTGAGE LLC 1 6.75% $9,372
    UNITED WHOLESALE MORTGAGE, LLC 1 6.62% $8,119
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.63% $8,074
    Wells Fargo Bank 1 6.63% $4,058
    Bank of America 1 7.38% $8,848
    ZILLOW HOME LOANS, LLC 1 6.75% $9,636
    BROKER SOLUTIONS, INC. 1 6.75% $15,006
    Carrington Mortgage Services, LLC 1 6.63% $9,789
    Flagstar Bank, FSB 1 7.63% $5,624
    Fulton Bank 1 6.50% $5,777
    GUILD MORTGAGE COMPANY 1 7.13% $6,530
    MEMBERS 1ST FEDERAL CREDIT UNION 1 6.13% $5,843
    MICHIGAN MUTUAL, INC. 1 4.75% $14,491
    Mortgage Research Center, LLC 1 7.50% $6,627

    The top Lewistown FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 21 FHA loans originated. Their average total fees are $7,818, which is $824 lower than the next largest lender, Equity Prime Mortgage LLC.

    The lowest fee Lewistown FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($7,818), .

    The lowest rate Lewistown FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.41%), .

    Lewistown FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lewistown (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 $107,000 (-1.7%) $133,166 (-4.9%) 0.00 145
    2018-02-01 $107,000 (1.7%) $130,133 (-5.0%) 0.00 158
    2018-03-01 $119,000 (9.7%) $130,242 (-3.2%) 0.00 153
    2018-04-01 $114,725 (2.2%) $130,943 (-6.2%) 0.00 141
    2018-05-01 $120,000 (4.4%) $133,078 (-6.0%) 0.00 130
    2018-06-01 $109,900 (-5.3%) $129,765 (-8.9%) 0.00 131
    2018-07-01 $129,925 (13.0%) $139,124 (-1.3%) 0.00 126
    2018-08-01 $126,850 (5.8%) $139,314 (-0.8%) 0.00 130
    2018-09-01 $119,900 (-1.6%) $130,682 (-6.3%) 0.00 132
    2018-10-01 $123,750 (3.6%) $137,559 (-0.5%) 0.00 130
    2018-11-01 $120,375 (6.1%) $134,617 (0.5%) 0.00 135
    2018-12-01 $109,900 (-5.9%) $125,933 (-7.0%) 0.00 130
    2019-01-01 $103,225 (-3.5%) $119,433 (-10.3%) 0.00 142
    2019-02-01 $104,500 (-2.3%) $121,929 (-6.3%) 0.00 133
    2019-03-01 $105,714 (-11.2%) $127,939 (-1.8%) 0.00 127
    2019-04-01 $104,964 (-8.5%) $134,207 (2.5%) 0.00 111
    2019-05-01 $127,400 (6.2%) $144,647 (8.7%) 0.00 102
    2019-06-01 $120,000 (9.2%) $144,182 (11.1%) 0.00 98
    2019-07-01 $121,725 (-6.3%) $138,674 (-0.3%) 0.00 109
    2019-08-01 $115,391 (-9.0%) $134,990 (-3.1%) 0.00 107
    2019-09-01 $117,927 (-1.7%) $139,072 (6.4%) 0.00 102
    2019-10-01 $119,618 (-3.3%) $141,299 (2.7%) 0.00 97
    2019-11-01 $90,500 (-24.8%) $126,770 (-5.8%) 0.00 92
    2019-12-01 $97,925 (-10.9%) $126,878 (0.8%) 0.00 87
    2020-01-01 $98,075 (-5.0%) $127,575 (6.8%) 0.00 72
    2020-02-01 $92,500 (-11.5%) $137,463 (12.7%) 0.00 64
    2020-03-01 $112,225 (6.2%) $137,512 (7.5%) 0.00 68
    2020-04-01 $113,125 (7.8%) $147,567 (10.0%) 0.00 67
    2020-05-01 $110,000 (-13.7%) $152,226 (5.2%) 0.00 62
    2020-06-01 $110,000 (-8.3%) $143,002 (-0.8%) 0.00 68
    2020-07-01 $124,900 (2.6%) $143,678 (3.6%) 0.00 63
    2020-08-01 $125,000 (8.3%) $156,251 (15.8%) 0.00 54
    2020-09-01 $128,175 (8.7%) $171,246 (23.1%) 0.00 52
    2020-10-01 $120,000 (0.3%) $156,396 (10.7%) 0.00 50
    2020-11-01 $126,236 (39.5%) $156,494 (23.5%) 0.00 44
    2020-12-01 $126,236 (28.9%) $150,400 (18.5%) 0.00 36
    2021-01-01 $139,950 (42.7%) $168,542 (32.1%) 0.00 35
    2021-02-01 $138,700 (50.0%) $168,183 (22.4%) 0.00 34
    2021-03-01 $143,725 (28.1%) $168,562 (22.6%) 0.00 27
    2021-04-01 $135,000 (19.3%) $156,138 (5.8%) 0.00 25
    2021-05-01 $125,618 (14.2%) $156,689 (2.9%) 0.00 26
    2021-06-01 $125,618 (14.2%) $174,857 (22.3%) 0.00 27
    2021-07-01 $125,000 (0.1%) $180,099 (25.4%) 0.00 38
    2021-08-01 $132,809 (6.3%) $183,012 (17.1%) 0.00 47
    2021-09-01 $135,000 (5.3%) $183,369 (7.1%) 0.00 47
    2021-10-01 $135,000 (12.5%) $169,105 (8.1%) 0.00 45
    2021-11-01 $134,000 (6.2%) $179,136 (14.5%) 0.00 39
    2021-12-01 $139,700 (10.7%) $178,387 (18.6%) 0.00 37
    2022-01-01 $169,000 (20.8%) $207,071 (22.9%) 0.00 31
    2022-02-01 $170,900 (23.2%) $215,499 (28.1%) 0.00 27
    2022-03-01 $166,475 (15.8%) $214,198 (27.1%) 0.00 29
    2022-04-01 $181,990 (34.8%) $214,584 (37.4%) 0.00 37
    2022-05-01 $176,425 (40.5%) $215,621 (37.6%) 0.00 35
    2022-06-01 $166,175 (32.3%) $198,111 (13.3%) 0.00 36
    2022-07-01 $159,000 (27.2%) $183,262 (1.8%) 0.00 42
    2022-08-01 $166,175 (25.1%) $217,388 (18.8%) 0.00 41
    2022-09-01 $142,625 (5.7%) $200,693 (9.5%) 0.00 45
    2022-10-01 $172,500 (27.8%) $209,785 (24.1%) 0.00 39
    2022-11-01 $174,925 (30.5%) $209,059 (16.7%) 0.00 40
    2022-12-01 $145,000 (3.8%) $193,462 (8.5%) 0.00 44
    2023-01-01 $141,150 (-16.5%) $195,689 (-5.5%) 0.00 40
    2023-02-01 $152,225 (-10.9%) $186,620 (-13.4%) 0.00 29
    2023-03-01 $146,500 (-12.0%) $213,694 (-0.2%) 0.00 26
    2023-04-01 $146,950 (-19.3%) $197,479 (-8.0%) 0.00 28
    2023-05-01 $217,400 (23.2%) $223,039 (3.4%) 0.00 22
    2023-06-01 $219,900 (32.3%) $240,592 (21.4%) 0.00 28
    2023-07-01 $222,450 (39.9%) $245,243 (33.8%) 0.00 32
    2023-08-01 $202,175 (21.7%) $205,521 (-5.5%) 0.00 32
    2023-09-01 $184,950 (29.7%) $198,426 (-1.1%) 0.00 30
    2023-10-01 $129,900 (-24.7%) $180,129 (-14.1%) 0.00 51
    2023-11-01 $128,450 (-26.6%) $181,345 (-13.3%) 0.00 49
    2023-12-01 $174,900 (20.6%) $191,716 (-0.9%) 0.00 47
    2024-01-01 $172,400 (22.1%) $189,735 (-3.0%) 0.00 47
    2024-02-01 $191,175 (25.6%) $204,033 (9.3%) 0.00 43
    2024-03-01 $224,900 (53.5%) $209,566 (-1.9%) 0.00 53
    2024-04-01 $221,175 (50.5%) $230,345 (16.6%) 0.00 47
    2024-05-01 $224,900 (3.5%) $256,312 (14.9%) 0.00 57
    2024-06-01 $234,900 (6.8%) $272,810 (13.4%) 0.00 61
    2024-07-01 $220,000 (-1.1%) $266,485 (8.7%) 0.00 62
    2024-08-01 $210,000 (3.9%) $274,275 (33.5%) 0.00 55
    2024-09-01 $211,125 (14.2%) $265,325 (33.7%) 0.00 62
    2024-10-01 $204,500 (57.4%) $257,933 (43.2%) 0.00 69
    2024-11-01 $209,500 (63.1%) $243,024 (34.0%) 0.00 65
    Lewistown's median listing price for 2024-11-01 was $209,500, a difference of $81,050 (63.1%) versus the prior year and $5,000 versus the prior month.

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

    Lewistown's average listing price for 2024-11-01 was $243,024, a difference of $61,679 (34.0%) versus the prior year and $-14,909 versus the prior month.

    For the 2024-11-01 period, Lewistown had 65 MLS listings, a difference of -4 listings (-6%) versus the prior month and 16 listings (33%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lewistown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,415 sqft
    2018-02-01 0 days 1,412 sqft
    2018-03-01 0 days 1,387 sqft
    2018-04-01 0 days 1,408 sqft
    2018-05-01 0 days 1,419 sqft
    2018-06-01 0 days 1,422 sqft
    2018-07-01 0 days 1,410 sqft
    2018-08-01 0 days 1,388 sqft
    2018-09-01 0 days 1,392 sqft
    2018-10-01 0 days 1,516 sqft
    2018-11-01 0 days 1,496 sqft
    2018-12-01 0 days 1,413 sqft
    2019-01-01 0 days 1,445 sqft
    2019-02-01 0 days 1,416 sqft
    2019-03-01 0 days 1,400 sqft
    2019-04-01 0 days 1,392 sqft
    2019-05-01 0 days 1,469 sqft
    2019-06-01 0 days 1,456 sqft
    2019-07-01 0 days 1,365 sqft
    2019-08-01 0 days 1,346 sqft
    2019-09-01 0 days 1,349 sqft
    2019-10-01 0 days 1,352 sqft
    2019-11-01 0 days 1,352 sqft
    2019-12-01 0 days 1,418 sqft
    2020-01-01 0 days 1,415 sqft
    2020-02-01 0 days 1,436 sqft
    2020-03-01 0 days 1,450 sqft
    2020-04-01 0 days 1,452 sqft
    2020-05-01 0 days 1,482 sqft
    2020-06-01 0 days 1,441 sqft
    2020-07-01 0 days 1,459 sqft
    2020-08-01 0 days 1,482 sqft
    2020-09-01 0 days 1,541 sqft
    2020-10-01 0 days 1,658 sqft
    2020-11-01 0 days 1,858 sqft
    2020-12-01 0 days 1,826 sqft
    2021-01-01 0 days 2,008 sqft
    2021-02-01 0 days 2,045 sqft
    2021-03-01 0 days 2,042 sqft
    2021-04-01 0 days 1,866 sqft
    2021-05-01 0 days 1,684 sqft
    2021-06-01 0 days 1,462 sqft
    2021-07-01 0 days 1,533 sqft
    2021-08-01 0 days 1,492 sqft
    2021-09-01 0 days 1,483 sqft
    2021-10-01 0 days 1,474 sqft
    2021-11-01 0 days 1,527 sqft
    2021-12-01 0 days 1,508 sqft
    2022-01-01 0 days 1,517 sqft
    2022-02-01 0 days 1,664 sqft
    2022-03-01 0 days 1,700 sqft
    2022-04-01 0 days 1,684 sqft
    2022-05-01 0 days 1,634 sqft
    2022-06-01 0 days 1,550 sqft
    2022-07-01 0 days 1,680 sqft
    2022-08-01 0 days 1,548 sqft
    2022-09-01 0 days 1,438 sqft
    2022-10-01 0 days 1,599 sqft
    2022-11-01 0 days 1,487 sqft
    2022-12-01 0 days 1,500 sqft
    2023-01-01 0 days 1,500 sqft
    2023-02-01 0 days 1,408 sqft
    2023-03-01 0 days 1,533 sqft
    2023-04-01 0 days 1,495 sqft
    2023-05-01 0 days 1,483 sqft
    2023-06-01 0 days 1,495 sqft
    2023-07-01 0 days 1,844 sqft
    2023-08-01 0 days 1,510 sqft
    2023-09-01 0 days 1,564 sqft
    2023-10-01 0 days 1,399 sqft
    2023-11-01 0 days 1,431 sqft
    2023-12-01 0 days 1,540 sqft
    2024-01-01 0 days 1,658 sqft
    2024-02-01 0 days 1,637 sqft
    2024-03-01 0 days 1,432 sqft
    2024-04-01 0 days 1,362 sqft
    2024-05-01 0 days 1,440 sqft
    2024-06-01 0 days 1,376 sqft
    2024-07-01 0 days 1,391 sqft
    2024-08-01 0 days 1,336 sqft
    2024-09-01 0 days 1,436 sqft
    2024-10-01 0 days 1,366 sqft
    2024-11-01 0 days 1,388 sqft
    Lewistown's median listing age (time on market) for 2024-11-01 was 0 days.

    Lewistown's median square footage for active listings during the 2024-11-01 period was 1,388 sqft. One year prior, the average listing was 1,431 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).