Lock Haven FHA Loan Rates, Closing Costs & Stats

Lock Haven, 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.

    Lock Haven's 23 lenders originated 75 FHA loans during 2023. The total origination value was $12,575,000, with an average FHA loan value of $167,667.

    Lock Haven FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lock Haven averaged 7.01% for the week of 2024-05-03, compared to the national average (all FHA variants) of 6.894% for the same period.

    Lock Haven's average FHA mortgage closing costs are $6,984.

    The average rate for the prior week (2024-04-26) was 7.09% and one month ago for the week of 2024-03-29, the average rate was 6.38%.

    The average rate one year ago was 6.4%.

    For refis of the same type during the week of 2024-05-03, the average rate was 7.09%.

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

    Lock Haven 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 Lock Haven level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Century Mortgage Company DBA Century Lending Company 20 6.45% $7,664
    PRIMELENDING, A PLAINSCAPITAL COMPANY 12 6.48% $8,477
    QUICKEN LOANS, LLC 7 5.93% $9,000
    NEWREZ LLC 5 7.05% $7,559
    UNITED WHOLESALE MORTGAGE, LLC 3 7.14% $6,917
    GUILD MORTGAGE COMPANY 2 6.06% $7,027
    MYCUMORTGAGE, LLC 2 6.69% $6,320
    Carrington Mortgage Services, LLC 2 7.44% $8,543
    M&T Bank 2 5.69% $6,502
    Plains Commerce Bank 2 6.31% $13,180
    NATIONS DIRECT MORTGAGE, LLC 1 7.25% $11,671
    NFM, INC. 1 7.63% $11,482
    PENNYMAC LOAN SERVICES, LLC 1 6.12% $10,717
    JLB CORPORATION 1 6.25% $6,721
    Blue Ridge Bank 1 6.49% $5,680
    BROKER SOLUTIONS, INC. 1 6.25% $10,927
    CROSSCOUNTRY MORTGAGE, LLC 1 7.19% $8,611
    Equity Prime Mortgage LLC 1 6.75% $9,200
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $9,505
    FREEDOM MORTGAGE CORPORATION 1 7.25% $10,973
    HOMESIDE FINANCIAL, LLC 1 7.75% $12,063
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $8,737
    LOANDEPOT.COM, LLC 1 5.50% $10,359

    The top Lock Haven FHA lender as defined by loan originations is Century Mortgage Company DBA Century Lending Company, with 20 FHA loans originated. Their average total fees are $7,664, which is $812 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

    The lowest fee Lock Haven FHA lenders (with over 10 loans originated) are Century Mortgage Company DBA Century Lending Company ($7,664), PRIMELENDING, A PLAINSCAPITAL COMPANY ($8,477), .

    The lowest rate Lock Haven FHA lenders (with over 10 loans originated) are Century Mortgage Company DBA Century Lending Company (6.45%), PRIMELENDING, A PLAINSCAPITAL COMPANY (6.48%), .

    Lock Haven FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lock Haven (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 $153,600 (7.0%) $183,052 (9.5%) 0.00 120
    2018-02-01 $151,050 (0.9%) $179,403 (-9.5%) 0.00 120
    2018-03-01 $152,200 (7.8%) $182,771 (-0.9%) 0.00 115
    2018-04-01 $153,000 (1.4%) $186,627 (-0.8%) 0.00 120
    2018-05-01 $152,000 (-0.3%) $187,046 (-2.7%) 0.00 128
    2018-06-01 $139,900 (-14.9%) $182,821 (-10.7%) 0.00 138
    2018-07-01 $149,600 (-7.9%) $186,681 (-9.4%) 0.00 138
    2018-08-01 $146,375 (-2.4%) $182,989 (-8.1%) 0.00 139
    2018-09-01 $140,000 (-6.6%) $175,847 (-3.7%) 0.00 141
    2018-10-01 $139,700 (-12.0%) $177,556 (-6.8%) 0.00 149
    2018-11-01 $139,600 (-6.9%) $175,490 (-7.3%) 0.00 156
    2018-12-01 $134,900 (-10.0%) $166,477 (-8.0%) 0.00 147
    2019-01-01 $133,200 (-13.3%) $174,248 (-4.8%) 0.00 131
    2019-02-01 $139,700 (-7.5%) $180,613 (0.7%) 0.00 122
    2019-03-01 $136,686 (-10.2%) $181,008 (-1.0%) 0.00 112
    2019-04-01 $134,186 (-12.3%) $175,993 (-5.7%) 0.00 111
    2019-05-01 $138,800 (-8.7%) $181,545 (-2.9%) 0.00 122
    2019-06-01 $145,900 (4.3%) $198,086 (8.4%) 0.00 122
    2019-07-01 $142,400 (-4.8%) $195,180 (4.6%) 0.00 130
    2019-08-01 $140,364 (-4.1%) $191,034 (4.4%) 0.00 142
    2019-09-01 $142,409 (1.7%) $187,029 (6.4%) 0.00 142
    2019-10-01 $144,250 (3.3%) $185,966 (4.7%) 0.00 141
    2019-11-01 $139,900 (0.2%) $187,726 (7.0%) 0.00 133
    2019-12-01 $139,900 (3.7%) $181,327 (8.9%) 0.00 120
    2020-01-01 $137,000 (2.9%) $178,028 (2.2%) 0.00 114
    2020-02-01 $125,000 (-10.5%) $170,630 (-5.5%) 0.00 110
    2020-03-01 $129,900 (-5.0%) $167,401 (-7.5%) 0.00 104
    2020-04-01 $129,914 (-3.2%) $166,490 (-5.4%) 0.00 101
    2020-05-01 $130,000 (-6.3%) $170,627 (-6.0%) 0.00 98
    2020-06-01 $141,403 (-3.1%) $189,084 (-4.5%) 0.00 100
    2020-07-01 $139,900 (-1.8%) $185,513 (-5.0%) 0.00 102
    2020-08-01 $149,000 (6.2%) $188,611 (-1.3%) 0.00 97
    2020-09-01 $128,972 (-9.4%) $170,740 (-8.7%) 0.00 90
    2020-10-01 $125,000 (-13.3%) $164,741 (-11.4%) 0.00 88
    2020-11-01 $139,900 (0.0%) $176,047 (-6.2%) 0.00 91
    2020-12-01 $144,900 (3.6%) $177,373 (-2.2%) 0.00 81
    2021-01-01 $139,200 (1.6%) $190,172 (6.8%) 0.00 60
    2021-02-01 $147,400 (17.9%) $203,643 (19.4%) 0.00 56
    2021-03-01 $148,650 (14.4%) $195,282 (16.7%) 0.00 52
    2021-04-01 $162,450 (25.0%) $202,265 (21.5%) 0.00 45
    2021-05-01 $199,950 (53.8%) $225,188 (32.0%) 0.00 38
    2021-06-01 $206,950 (46.4%) $229,689 (21.5%) 0.00 50
    2021-07-01 $189,000 (35.1%) $226,024 (21.8%) 0.00 53
    2021-08-01 $174,900 (17.4%) $228,364 (21.1%) 0.00 61
    2021-09-01 $165,975 (28.7%) $230,228 (34.8%) 0.00 61
    2021-10-01 $179,900 (43.9%) $239,014 (45.1%) 0.00 64
    2021-11-01 $160,875 (15.0%) $216,099 (22.8%) 0.00 63
    2021-12-01 $152,450 (5.2%) $208,626 (17.6%) 0.00 56
    2022-01-01 $149,900 (7.7%) $204,646 (7.6%) 0.00 49
    2022-02-01 $146,300 (-0.8%) $204,377 (0.4%) 0.00 48
    2022-03-01 $169,900 (14.3%) $231,483 (18.5%) 0.00 44
    2022-04-01 $175,000 (7.7%) $223,044 (10.3%) 0.00 41
    2022-05-01 $196,500 (-1.7%) $242,829 (7.8%) 0.00 49
    2022-06-01 $184,925 (-10.6%) $248,436 (8.2%) 0.00 47
    2022-07-01 $189,950 (0.5%) $264,463 (17.0%) 0.00 57
    2022-08-01 $191,575 (9.5%) $259,482 (13.6%) 0.00 63
    2022-09-01 $183,100 (10.3%) $249,963 (8.6%) 0.00 65
    2022-10-01 $204,250 (13.5%) $254,318 (6.4%) 0.00 52
    2022-11-01 $200,250 (24.5%) $259,373 (20.0%) 0.00 56
    2022-12-01 $195,500 (28.2%) $257,905 (23.6%) 0.00 48
    2023-01-01 $172,450 (15.0%) $251,001 (22.7%) 0.00 38
    2023-02-01 $172,250 (17.7%) $246,032 (20.4%) 0.00 40
    2023-03-01 $197,900 (16.5%) $260,681 (12.6%) 0.00 36
    2023-04-01 $205,200 (17.3%) $251,647 (12.8%) 0.00 43
    2023-05-01 $199,675 (1.6%) $224,384 (-7.6%) 0.00 43
    2023-06-01 $199,925 (8.1%) $218,305 (-12.1%) 0.00 46
    2023-07-01 $199,900 (5.2%) $232,938 (-11.9%) 0.00 47
    2023-08-01 $236,150 (23.3%) $273,116 (5.3%) 0.00 49
    2023-09-01 $238,600 (30.3%) $299,861 (20.0%) 0.00 56
    2023-10-01 $239,700 (17.4%) $303,449 (19.3%) 0.00 56
    2023-11-01 $219,900 (9.8%) $274,686 (5.9%) 0.00 61
    2023-12-01 $199,000 (1.8%) $252,783 (-2.0%) 0.00 58
    2024-01-01 $193,425 (12.2%) $245,972 (-2.0%) 0.00 54
    2024-02-01 $207,400 (20.4%) $272,239 (10.7%) 0.00 49
    2024-03-01 $190,000 (-4.0%) $255,818 (-1.9%) 0.00 54
    2024-04-01 $184,950 (-9.9%) $253,094 (0.6%) 0.00 52
    Lock Haven's median listing price for 2024-04-01 was $184,950, a difference of $-20,250 (-9.9%) versus the prior year and $-5,050 versus the prior month.

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

    Lock Haven's average listing price for 2024-04-01 was $253,094, a difference of $1,447 (0.6%) versus the prior year and $-2,724 versus the prior month.

    For the 2024-04-01 period, Lock Haven had 52 MLS listings, a difference of -2 listings (-4%) versus the prior month and 9 listings (21%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lock Haven (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,920 sqft
    2018-02-01 0 days 1,798 sqft
    2018-03-01 0 days 1,596 sqft
    2018-04-01 0 days 1,678 sqft
    2018-05-01 0 days 1,761 sqft
    2018-06-01 0 days 1,768 sqft
    2018-07-01 0 days 1,756 sqft
    2018-08-01 0 days 1,803 sqft
    2018-09-01 0 days 1,758 sqft
    2018-10-01 0 days 1,780 sqft
    2018-11-01 0 days 1,796 sqft
    2018-12-01 0 days 1,761 sqft
    2019-01-01 0 days 1,758 sqft
    2019-02-01 0 days 1,760 sqft
    2019-03-01 0 days 1,743 sqft
    2019-04-01 0 days 1,725 sqft
    2019-05-01 0 days 1,754 sqft
    2019-06-01 0 days 1,800 sqft
    2019-07-01 0 days 1,716 sqft
    2019-08-01 0 days 1,679 sqft
    2019-09-01 0 days 1,651 sqft
    2019-10-01 0 days 1,646 sqft
    2019-11-01 0 days 1,640 sqft
    2019-12-01 0 days 1,639 sqft
    2020-01-01 0 days 1,635 sqft
    2020-02-01 0 days 1,606 sqft
    2020-03-01 0 days 1,634 sqft
    2020-04-01 0 days 1,666 sqft
    2020-05-01 0 days 1,658 sqft
    2020-06-01 0 days 1,660 sqft
    2020-07-01 0 days 1,701 sqft
    2020-08-01 0 days 1,723 sqft
    2020-09-01 0 days 1,640 sqft
    2020-10-01 0 days 1,646 sqft
    2020-11-01 0 days 1,696 sqft
    2020-12-01 0 days 1,815 sqft
    2021-01-01 0 days 1,780 sqft
    2021-02-01 0 days 1,805 sqft
    2021-03-01 0 days 1,789 sqft
    2021-04-01 0 days 1,807 sqft
    2021-05-01 0 days 1,800 sqft
    2021-06-01 0 days 1,870 sqft
    2021-07-01 0 days 1,750 sqft
    2021-08-01 0 days 1,809 sqft
    2021-09-01 0 days 1,803 sqft
    2021-10-01 0 days 1,862 sqft
    2021-11-01 0 days 1,764 sqft
    2021-12-01 0 days 1,776 sqft
    2022-01-01 0 days 1,660 sqft
    2022-02-01 0 days 1,652 sqft
    2022-03-01 0 days 1,759 sqft
    2022-04-01 0 days 1,644 sqft
    2022-05-01 0 days 1,742 sqft
    2022-06-01 0 days 1,751 sqft
    2022-07-01 0 days 1,840 sqft
    2022-08-01 0 days 1,758 sqft
    2022-09-01 0 days 1,734 sqft
    2022-10-01 0 days 1,729 sqft
    2022-11-01 0 days 1,722 sqft
    2022-12-01 0 days 1,781 sqft
    2023-01-01 0 days 1,667 sqft
    2023-02-01 0 days 1,716 sqft
    2023-03-01 0 days 1,728 sqft
    2023-04-01 0 days 1,763 sqft
    2023-05-01 0 days 1,692 sqft
    2023-06-01 0 days 1,746 sqft
    2023-07-01 0 days 1,729 sqft
    2023-08-01 0 days 1,756 sqft
    2023-09-01 0 days 1,755 sqft
    2023-10-01 0 days 1,887 sqft
    2023-11-01 0 days 1,773 sqft
    2023-12-01 0 days 1,731 sqft
    2024-01-01 0 days 1,692 sqft
    2024-02-01 0 days 1,692 sqft
    2024-03-01 0 days 1,680 sqft
    2024-04-01 0 days 1,690 sqft
    Lock Haven's median listing age (time on market) for 2024-04-01 was 0 days.

    Lock Haven's median square footage for active listings during the 2024-04-01 period was 1,690 sqft. One year prior, the average listing was 1,763 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).