Philadelphia FHA Loan Rates, Closing Costs & Stats
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
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.
Philadelphia's 248 lenders originated 13,048 FHA loans during 2024. The total origination value was $3,846,850,000, with an average FHA loan value of $294,823.
Philadelphia FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Philadelphia
averaged
6.27%
for the week of 2025-04-04, compared to the national average (all FHA variants) of
6.259% for the same period.
Philadelphia's average FHA mortgage closing costs are $9,152.
The average rate for the prior week (2025-03-28) was
6.46% and
one month ago for the week of 2025-02-28, the
average rate was 6.65%.
The average rate one year ago was 6.57%.
For refis of the same type during the week of 2025-04-04, the average rate
was 6.46%.
Philadelphia 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 Philadelphia level.
The top Philadelphia FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
1,077 FHA loans originated. Their average total fees are
$13,045, which is $185
lower than the next largest lender,
CROSSCOUNTRY MORTGAGE, LLC.
The lowest fee Philadelphia FHA lenders (with over 10 loans originated) are
AMERICAN HERITAGE FCU ($6,949), Customers Bank ($7,054), VILLAGE CAPITAL MORTGAGE ($7,774), JPMorgan Chase Bank ($8,396) and Wilmington Savings Fund Society, FSB ($8,960).
The lowest rate Philadelphia FHA lenders (with over 10 loans originated) are
EAGLE HOME MORTGAGE, LLC (5.16%), Customers Bank (5.65%), LOANPAL, LLC (5.65%), AMERICAN FINANCING CORPORATION (5.68%) and K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. (5.94%).
Philadelphia FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | NEW CASTLE | 2022 | $477,250 | $610,950 | $738,500 | $917,800 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | CECIL | 2022 | $477,250 | $610,950 | $738,500 | $917,800 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | BURLINGTON | 2022 | $477,250 | $610,950 | $738,500 | $917,800 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | CAMDEN | 2022 | $477,250 | $610,950 | $738,500 | $917,800 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | GLOUCESTER | 2022 | $477,250 | $610,950 | $738,500 | $917,800 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | SALEM | 2022 | $477,250 | $610,950 | $738,500 | $917,800 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | BUCKS | 2022 | $477,250 | $610,950 | $738,500 | $917,800 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | CHESTER | 2022 | $477,250 | $610,950 | $738,500 | $917,800 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | DELAWARE | 2022 | $477,250 | $610,950 | $738,500 | $917,800 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | MONTGOMERY | 2022 | $477,250 | $610,950 | $738,500 | $917,800 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | PHILADELPHIA | 2022 | $477,250 | $610,950 | $738,500 | $917,800 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | NEW CASTLE | 2023 | $529,000 | $677,200 | $818,600 | $1,017,300 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | CECIL | 2023 | $529,000 | $677,200 | $818,600 | $1,017,300 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | BURLINGTON | 2023 | $529,000 | $677,200 | $818,600 | $1,017,300 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | CAMDEN | 2023 | $529,000 | $677,200 | $818,600 | $1,017,300 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | GLOUCESTER | 2023 | $529,000 | $677,200 | $818,600 | $1,017,300 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | SALEM | 2023 | $529,000 | $677,200 | $818,600 | $1,017,300 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | BUCKS | 2023 | $529,000 | $677,200 | $818,600 | $1,017,300 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | CHESTER | 2023 | $529,000 | $677,200 | $818,600 | $1,017,300 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | DELAWARE | 2023 | $529,000 | $677,200 | $818,600 | $1,017,300 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | MONTGOMERY | 2023 | $529,000 | $677,200 | $818,600 | $1,017,300 |
| PHILADELPHIA-CAMDEN-WILMINGTON, PA-NJ-DE-MD | PHILADELPHIA | 2023 | $529,000 | $677,200 | $818,600 | $1,017,300 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Philadelphia (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 | $229,995 (5.0%) | $343,137 (3.1%) | 0.85 | 20,094 |
| 2018-02-01 | $236,495 (7.5%) | $345,650 (2.6%) | 0.86 | 20,324 |
| 2018-03-01 | $240,000 (5.2%) | $355,336 (2.9%) | 0.84 | 19,665 |
| 2018-04-01 | $249,950 (6.4%) | $368,672 (4.1%) | 0.85 | 20,537 |
| 2018-05-01 | $264,500 (8.2%) | $382,309 (5.4%) | 0.88 | 21,370 |
| 2018-06-01 | $269,000 (8.7%) | $388,011 (5.6%) | 0.90 | 21,956 |
| 2018-07-01 | $269,900 (8.2%) | $387,677 (6.0%) | 0.90 | 22,047 |
| 2018-08-01 | $262,450 (5.8%) | $381,807 (5.9%) | 0.88 | 22,061 |
| 2018-09-01 | $260,000 (5.3%) | $381,223 (5.4%) | 0.87 | 22,375 |
| 2018-10-01 | $264,900 (6.0%) | $381,636 (4.1%) | 0.90 | 22,723 |
| 2018-11-01 | $262,000 (8.1%) | $378,890 (7.1%) | 0.89 | 21,978 |
| 2018-12-01 | $253,154 (6.4%) | $372,340 (7.2%) | 0.87 | 20,172 |
| 2019-01-01 | $249,900 (8.7%) | $362,689 (5.7%) | 0.86 | 18,673 |
| 2019-02-01 | $250,000 (5.7%) | $367,931 (6.5%) | 0.84 | 18,444 |
| 2019-03-01 | $263,571 (9.8%) | $382,817 (7.7%) | 0.86 | 18,993 |
| 2019-04-01 | $275,000 (10.0%) | $395,366 (7.2%) | 0.87 | 19,617 |
| 2019-05-01 | $285,250 (7.8%) | $405,592 (6.1%) | 0.89 | 20,164 |
| 2019-06-01 | $289,900 (7.8%) | $407,173 (4.9%) | 0.91 | 20,611 |
| 2019-07-01 | $286,000 (6.0%) | $404,849 (4.4%) | 0.90 | 20,479 |
| 2019-08-01 | $288,811 (10.0%) | $407,989 (6.9%) | 0.91 | 19,924 |
| 2019-09-01 | $294,542 (13.3%) | $417,195 (9.4%) | 0.94 | 19,186 |
| 2019-10-01 | $298,363 (12.6%) | $424,163 (11.1%) | 0.96 | 18,548 |
| 2019-11-01 | $294,500 (12.4%) | $421,596 (11.3%) | 0.97 | 17,425 |
| 2019-12-01 | $285,497 (12.8%) | $419,741 (12.7%) | 0.95 | 15,071 |
| 2020-01-01 | $284,450 (13.8%) | $417,076 (15.0%) | 0.95 | 13,600 |
| 2020-02-01 | $289,986 (16.0%) | $429,991 (16.9%) | 0.95 | 13,203 |
| 2020-03-01 | $299,950 (13.8%) | $443,263 (15.8%) | 0.94 | 13,325 |
| 2020-04-01 | $299,900 (9.1%) | $442,672 (12.0%) | 0.94 | 11,890 |
| 2020-05-01 | $309,945 (8.7%) | $451,561 (11.3%) | 0.94 | 12,390 |
| 2020-06-01 | $327,450 (13.0%) | $472,121 (16.0%) | 0.96 | 12,509 |
| 2020-07-01 | $339,900 (18.9%) | $495,413 (22.4%) | 0.99 | 11,427 |
| 2020-08-01 | $339,900 (17.7%) | $503,338 (23.4%) | 0.97 | 10,853 |
| 2020-09-01 | $339,950 (15.4%) | $506,058 (21.3%) | 0.97 | 10,877 |
| 2020-10-01 | $344,900 (15.6%) | $514,093 (21.2%) | 0.99 | 10,827 |
| 2020-11-01 | $337,450 (14.6%) | $509,052 (20.7%) | 0.99 | 10,406 |
| 2020-12-01 | $325,000 (13.8%) | $499,174 (18.9%) | 0.97 | 9,096 |
| 2021-01-01 | $320,000 (12.5%) | $500,557 (20.0%) | 0.96 | 7,973 |
| 2021-02-01 | $320,000 (10.4%) | $512,116 (19.1%) | 0.93 | 7,133 |
| 2021-03-01 | $325,000 (8.4%) | $521,990 (17.8%) | 0.92 | 7,273 |
| 2021-04-01 | $336,450 (12.2%) | $537,418 (21.4%) | 0.91 | 7,632 |
| 2021-05-01 | $339,000 (9.4%) | $524,162 (16.1%) | 0.90 | 8,302 |
| 2021-06-01 | $330,000 (0.8%) | $501,198 (6.2%) | 0.87 | 9,875 |
| 2021-07-01 | $325,000 (-4.4%) | $483,749 (-2.4%) | 0.86 | 10,685 |
| 2021-08-01 | $319,900 (-5.9%) | $470,956 (-6.4%) | 0.85 | 10,997 |
| 2021-09-01 | $319,500 (-6.0%) | $467,997 (-7.5%) | 0.85 | 11,023 |
| 2021-10-01 | $319,900 (-7.3%) | $470,871 (-8.4%) | 0.85 | 10,710 |
| 2021-11-01 | $311,075 (-7.8%) | $469,837 (-7.7%) | 0.83 | 9,791 |
| 2021-12-01 | $299,950 (-7.7%) | $465,502 (-6.8%) | 0.81 | 8,424 |
| 2022-01-01 | $299,900 (-6.3%) | $476,101 (-4.9%) | 0.81 | 6,980 |
| 2022-02-01 | $299,950 (-6.3%) | $485,770 (-5.1%) | 0.78 | 6,570 |
| 2022-03-01 | $312,000 (-4.0%) | $495,481 (-5.1%) | 0.78 | 6,933 |
| 2022-04-01 | $325,000 (-3.4%) | $500,971 (-6.8%) | 0.77 | 7,331 |
| 2022-05-01 | $339,950 (0.3%) | $505,785 (-3.5%) | 0.78 | 8,561 |
| 2022-06-01 | $348,950 (5.7%) | $504,274 (0.6%) | 0.78 | 9,673 |
| 2022-07-01 | $345,000 (6.2%) | $499,547 (3.3%) | 0.78 | 10,804 |
| 2022-08-01 | $339,450 (6.1%) | $495,278 (5.2%) | 0.78 | 10,794 |
| 2022-09-01 | $335,000 (4.9%) | $495,121 (5.8%) | 0.78 | 10,754 |
| 2022-10-01 | $335,000 (4.7%) | $498,405 (5.9%) | 0.79 | 11,166 |
| 2022-11-01 | $331,850 (6.7%) | $497,846 (6.0%) | 0.80 | 11,009 |
| 2022-12-01 | $325,000 (8.4%) | $492,346 (5.8%) | 0.80 | 9,610 |
| 2023-01-01 | $322,245 (7.5%) | $496,478 (4.3%) | 0.80 | 8,735 |
| 2023-02-01 | $322,450 (7.5%) | $510,841 (5.2%) | 0.78 | 8,093 |
| 2023-03-01 | $328,700 (5.4%) | $516,757 (4.3%) | 0.78 | 7,971 |
| 2023-04-01 | $339,900 (4.6%) | $538,764 (7.5%) | 0.79 | 8,056 |
| 2023-05-01 | $349,450 (2.8%) | $544,282 (7.6%) | 0.79 | 8,050 |
| 2023-06-01 | $354,950 (1.7%) | $560,943 (11.2%) | 0.80 | 8,321 |
| 2023-07-01 | $350,000 (1.5%) | $553,934 (10.9%) | 0.80 | 8,350 |
| 2023-08-01 | $350,000 (3.1%) | $543,128 (9.7%) | 0.80 | 8,555 |
| 2023-09-01 | $350,000 (4.5%) | $541,242 (9.3%) | 0.81 | 9,092 |
| 2023-10-01 | $350,000 (4.5%) | $543,703 (9.1%) | 0.82 | 9,607 |
| 2023-11-01 | $349,900 (5.4%) | $536,853 (7.8%) | 0.83 | 9,708 |
| 2023-12-01 | $340,000 (4.6%) | $530,988 (7.9%) | 0.83 | 8,878 |
| 2024-01-01 | $337,313 (4.7%) | $533,604 (7.5%) | 0.82 | 7,894 |
| 2024-02-01 | $339,950 (5.4%) | $538,350 (5.4%) | 0.82 | 7,621 |
| 2024-03-01 | $349,999 (6.5%) | $559,011 (8.2%) | 0.82 | 7,862 |
| 2024-04-01 | $369,950 (8.8%) | $583,347 (8.3%) | 0.86 | 8,315 |
| 2024-05-01 | $379,950 (8.7%) | $601,409 (10.5%) | 0.86 | 8,718 |
| 2024-06-01 | $395,000 (11.3%) | $594,345 (6.0%) | 0.90 | 9,211 |
| 2024-07-01 | $389,644 (11.3%) | $586,493 (5.9%) | 0.89 | 9,452 |
| 2024-08-01 | $382,000 (9.1%) | $573,513 (5.6%) | 0.89 | 9,659 |
| 2024-09-01 | $379,450 (8.4%) | $567,102 (4.8%) | 0.89 | 10,378 |
| 2024-10-01 | $376,500 (7.6%) | $560,763 (3.1%) | 0.89 | 10,898 |
| 2024-11-01 | $372,500 (6.5%) | $546,382 (1.8%) | 0.89 | 10,897 |
| 2024-12-01 | $358,075 (5.3%) | $539,483 (1.6%) | 0.89 | 9,447 |
| 2025-01-01 | $352,000 (4.4%) | $537,350 (0.7%) | 0.88 | 8,801 |
| 2025-02-01 | $350,000 (3.0%) | $533,567 (-0.9%) | 0.85 | 8,732 |
| 2025-03-01 | $359,000 (2.6%) | $541,068 (-3.2%) | 0.00 | 9,279 |
Philadelphia's median listing price comes in at 0% of the national average.
Philadelphia's average listing price for 2025-03-01 was $541,068, a difference of $-17,943 (-3.2%) versus the prior year and $7,501 versus the prior month.
For the 2025-03-01 period, Philadelphia had 9,279 MLS listings, a difference of 547 listings (6%) versus the prior month and 1,417 listings (18%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Philadelphia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 81 days | 1,700 sqft |
| 2018-02-01 | 73 days | 1,706 sqft |
| 2018-03-01 | 54 days | 1,719 sqft |
| 2018-04-01 | 52 days | 1,755 sqft |
| 2018-05-01 | 48 days | 1,800 sqft |
| 2018-06-01 | 51 days | 1,825 sqft |
| 2018-07-01 | 57 days | 1,826 sqft |
| 2018-08-01 | 59 days | 1,805 sqft |
| 2018-09-01 | 60 days | 1,800 sqft |
| 2018-10-01 | 60 days | 1,800 sqft |
| 2018-11-01 | 63 days | 1,800 sqft |
| 2018-12-01 | 72 days | 1,764 sqft |
| 2019-01-01 | 79 days | 1,751 sqft |
| 2019-02-01 | 72 days | 1,772 sqft |
| 2019-03-01 | 58 days | 1,805 sqft |
| 2019-04-01 | 46 days | 1,829 sqft |
| 2019-05-01 | 45 days | 1,864 sqft |
| 2019-06-01 | 50 days | 1,876 sqft |
| 2019-07-01 | 57 days | 1,855 sqft |
| 2019-08-01 | 57 days | 1,859 sqft |
| 2019-09-01 | 58 days | 1,875 sqft |
| 2019-10-01 | 58 days | 1,884 sqft |
| 2019-11-01 | 61 days | 1,850 sqft |
| 2019-12-01 | 73 days | 1,827 sqft |
| 2020-01-01 | 79 days | 1,800 sqft |
| 2020-02-01 | 62 days | 1,825 sqft |
| 2020-03-01 | 45 days | 1,846 sqft |
| 2020-04-01 | 58 days | 1,830 sqft |
| 2020-05-01 | 71 days | 1,860 sqft |
| 2020-06-01 | 53 days | 1,882 sqft |
| 2020-07-01 | 43 days | 1,875 sqft |
| 2020-08-01 | 40 days | 1,848 sqft |
| 2020-09-01 | 39 days | 1,793 sqft |
| 2020-10-01 | 45 days | 1,778 sqft |
| 2020-11-01 | 49 days | 1,740 sqft |
| 2020-12-01 | 58 days | 1,686 sqft |
| 2021-01-01 | 64 days | 1,636 sqft |
| 2021-02-01 | 56 days | 1,612 sqft |
| 2021-03-01 | 42 days | 1,625 sqft |
| 2021-04-01 | 35 days | 1,659 sqft |
| 2021-05-01 | 32 days | 1,675 sqft |
| 2021-06-01 | 33 days | 1,667 sqft |
| 2021-07-01 | 37 days | 1,650 sqft |
| 2021-08-01 | 41 days | 1,624 sqft |
| 2021-09-01 | 45 days | 1,603 sqft |
| 2021-10-01 | 45 days | 1,598 sqft |
| 2021-11-01 | 49 days | 1,559 sqft |
| 2021-12-01 | 56 days | 1,530 sqft |
| 2022-01-01 | 61 days | 1,506 sqft |
| 2022-02-01 | 49 days | 1,518 sqft |
| 2022-03-01 | 35 days | 1,536 sqft |
| 2022-04-01 | 33 days | 1,547 sqft |
| 2022-05-01 | 32 days | 1,598 sqft |
| 2022-06-01 | 35 days | 1,644 sqft |
| 2022-07-01 | 38 days | 1,620 sqft |
| 2022-08-01 | 44 days | 1,591 sqft |
| 2022-09-01 | 49 days | 1,587 sqft |
| 2022-10-01 | 49 days | 1,598 sqft |
| 2022-11-01 | 52 days | 1,590 sqft |
| 2022-12-01 | 61 days | 1,564 sqft |
| 2023-01-01 | 67 days | 1,547 sqft |
| 2023-02-01 | 63 days | 1,546 sqft |
| 2023-03-01 | 50 days | 1,557 sqft |
| 2023-04-01 | 44 days | 1,564 sqft |
| 2023-05-01 | 44 days | 1,592 sqft |
| 2023-06-01 | 45 days | 1,630 sqft |
| 2023-07-01 | 45 days | 1,620 sqft |
| 2023-08-01 | 45 days | 1,597 sqft |
| 2023-09-01 | 45 days | 1,578 sqft |
| 2023-10-01 | 44 days | 1,597 sqft |
| 2023-11-01 | 46 days | 1,575 sqft |
| 2023-12-01 | 56 days | 1,544 sqft |
| 2024-01-01 | 66 days | 1,533 sqft |
| 2024-02-01 | 59 days | 1,531 sqft |
| 2024-03-01 | 43 days | 1,560 sqft |
| 2024-04-01 | 40 days | 1,604 sqft |
| 2024-05-01 | 37 days | 1,619 sqft |
| 2024-06-01 | 42 days | 1,660 sqft |
| 2024-07-01 | 44 days | 1,667 sqft |
| 2024-08-01 | 44 days | 1,648 sqft |
| 2024-09-01 | 45 days | 1,624 sqft |
| 2024-10-01 | 43 days | 1,617 sqft |
| 2024-11-01 | 47 days | 1,600 sqft |
| 2024-12-01 | 57 days | 1,550 sqft |
| 2025-01-01 | 63 days | 1,537 sqft |
| 2025-02-01 | 52 days | 1,529 sqft |
| 2025-03-01 | 0 days | 1,530 sqft |
Philadelphia's median square footage for active listings during the 2025-03-01 period was 1,530 sqft. One year prior, the average listing was 1,560 sqft.