Lewistown FHA Loan Rates, Closing Costs & Stats

Lewistown, 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.

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 6.64% for the week of 2024-03-22, compared to the national average (all FHA variants) of 6.696% for the same period.

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

The average rate for the prior week (2024-03-15) was 6.66% and one month ago for the week of 2024-02-16, the average rate was 6.39%.

The average rate one year ago was 6.47%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.7%.

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
Lewistown's median listing price for 2024-02-01 was $191,175, a difference of $38,950 (25.6%) versus the prior year and $18,775 versus the prior month.

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

Lewistown's average listing price for 2024-02-01 was $204,033, a difference of $17,413 (9.3%) versus the prior year and $14,298 versus the prior month.

For the 2024-02-01 period, Lewistown had 43 MLS listings, a difference of -4 listings (-9%) versus the prior month and 14 listings (48%) 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
Lewistown's median listing age (time on market) for 2024-02-01 was 0 days.

Lewistown's median square footage for active listings during the 2024-02-01 period was 1,637 sqft. One year prior, the average listing was 1,408 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).