Meadville FHA Loan Rates, Closing Costs & Stats

Meadville, PA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits

    • 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.

    Meadville's 39 lenders originated 114 FHA loans during 2024. The total origination value was $17,520,000, with an average FHA loan value of $153,684.

    Meadville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Meadville averaged 0.42% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Meadville's average FHA mortgage closing costs are $6,729.

    The average rate for the prior week (2025-06-13) was 6.7% and one month ago for the week of 2025-05-16, the average rate was 6.96%.

    The average rate one year ago was 6.82%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.2%.

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

    Meadville 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 Meadville level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 21 6.53% $7,774
    UNITED WHOLESALE MORTGAGE, LLC 8 6.37% $11,031
    EQUITY RESOURCES, INC. 7 6.71% $7,627
    Ixonia Bank 6 6.90% $8,019
    Flagstar Bank, FSB 6 6.80% $8,019
    AFFORDABLE MORTGAGE ADVISORS, LLC. 3 6.92% $6,893
    FIRST HERITAGE FINANCIAL, LLC 3 6.25% $6,367
    HOWARD HANNA FINANCIAL SERVICES, INC. 3 6.13% $5,718
    CROSSCOUNTRY MORTGAGE, LLC 2 7.22% $8,495
    FREEDOM MORTGAGE CORPORATION 2 6.50% $7,372
    LOANDEPOT.COM, LLC 2 6.44% $12,617
    MOVEMENT MORTGAGE, LLC 2 6.38% $8,544
    PLANET HOME LENDING, LLC 2 6.06% $8,347
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 7.13% $3,259
    UNION HOME MORTGAGE CORP. 2 7.06% $8,217
    CONTOUR MORTGAGE CORPORATION 1 7.13% $11,425
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $10,451
    HOMESIDE FINANCIAL, LLC 1 7.63% $8,573
    ZILLOW HOME LOANS, LLC 1 6.75% $7,698
    BETTER MORTGAGE CORPORATION 1 5.00% $8,855
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $10,321
    LOANPAL, LLC 1 5.38% $7,931
    MEMBER FIRST MORTGAGE, LLC 1 6.63% $7,010
    U.S. Bank 1 6.75% $6,898
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $12,822
    Paramount Residential Mortgage Group, Inc. 1 5.50% $11,118
    PENNYMAC LOAN SERVICES, LLC 1 6.75% $5,934
    VILLAGE CAPITAL MORTGAGE 1 6.88% $3,708
    PLAZA HOME MORTGAGE, INC. 1 8.25% $5,669
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $13,452
    S1L, Inc. 1 6.63% $9,734
    Citizens Bank 1 7.50% $3,613
    TIDEWATER MORTGAGE SERVICES, INC. 1 7.25% $7,931
    Equity Prime Mortgage LLC 1 6.38% $13,882
    Century Mortgage Company DBA Century Lending Company 1 6.63% $14,074
    Fifth Third Bank 1 6.50% $6,838
    WEST PENN FINANCIAL SERVICE CENTER, INC. 1 6.38% $7,982
    First National Bank of Pennsylvania 1 6.25% $8,958
    BROKER SOLUTIONS, INC. 1 6.75% $9,939

    The top Meadville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 21 FHA loans originated. Their average total fees are $7,774, which is $3,257 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Meadville FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($7,774), .

    The lowest rate Meadville FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.53%), .

    Meadville FHA Loan Limits

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

    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).