Philadelphia FHA Loans

PHILADELPHIA, 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.

Philadelphia's 245 lenders originated 14,203 FHA loans during 2021. The total origination value was $3,343,565,000, with an average FHA loan value of $235,413.

Philadelphia FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Philadelphia averaged 4.36% for the week of 2022-03-25, compared to the national average (all FHA variants) of 4.648% for the same period.

The average rate for the prior week (2022-03-18) was 4.57% and one month ago for the week of 2022-02-18, the average rate was 4%.

The average rate one year ago was 3.24%.

For refis of the same type during the week of 2022-03-25, the average rate was 4.59%.

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

Philadelphia FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Philadelphia level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 1,140 2.76% $7,396
CROSSCOUNTRY MORTGAGE, LLC 650 3.14% $9,824
FREEDOM MORTGAGE CORPORATION 513 2.92% $6,297
ALLIED MORTGAGE GROUP, INC. 420 3.13% $8,668
PENNYMAC LOAN SERVICES, LLC 394 2.94% $5,901
NEWREZ LLC 344 2.90% $7,248
LAKEVIEW LOAN SERVICING, LLC 339 3.06% $6,357
Mr. Cooper ( Nationstar Mortgage ) 337 3.22% $5,249
Prosperity Home Mortgage, LLC 323 3.24% $8,835
Huntingdon Valley Bank 301 3.09% $7,963
LOANDEPOT.COM, LLC 300 3.14% $9,214
MOVEMENT MORTGAGE, LLC 255 2.97% $8,841
GUARANTEED RATE, INC. 245 2.81% $9,307
CALIBER HOME LOANS, INC. 235 2.78% $7,253
UNITED WHOLESALE MORTGAGE, LLC 231 2.69% $9,317
FINANCE OF AMERICA MORTGAGE LLC 193 3.09% $8,937
SUCCESS MORTGAGE PARTNERS, INC. 188 3.16% $9,579
GREENTREE MORTGAGE COMPANY, L.P. 177 2.85% $7,982
Meridian Bank Corporation 157 3.07% $8,239
Carrington Mortgage Services, LLC 153 3.42% $9,234
AMERICAN FINANCIAL NETWORK, INC. 150 3.32% $15,405
HOME POINT FINANCIAL CORPORATION 147 2.76% $8,934
BROKER SOLUTIONS, INC. 143 3.15% $8,863
Citizens Bank 131 2.82% $8,530
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 129 3.20% $9,989
ABSOLUTE HOME MORTGAGE CORPORATION 125 3.27% $9,040
NATION ONE MORTGAGE CORPORATION 121 3.40% $10,488
VILLAGE CAPITAL & INVESTMENT LLC 117 2.95% $3,754
CMG MORTGAGE, INC. 115 3.38% $10,138
Bank of America 115 2.82% $4,860
AmeriHome Mortgage Company, LLC 109 2.91% $6,054
Acre Mortgage and Financial Inc 101 3.35% $8,914
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 100 3.03% $9,295
Mortgage America, Inc. 100 3.00% $8,196
Lakeview Community Capital, LLC 99 3.14% $5,651
Keystone Funding, Inc. 93 2.86% $6,947
FIRST HERITAGE FINANCIAL, LLC 89 3.19% $7,443
Customers Bank 88 2.96% $6,891
HOMEBRIDGE FINANCIAL SERVICES, INC. 83 2.94% $10,189
LENDING CAPITAL GROUP Inc 81 3.00% $11,393
Mid Penn Bank 76 3.11% $8,845
Equity Prime Mortgage LLC 74 3.23% $9,026
Nations Lending Corporation 73 3.08% $9,630
EMM LOANS LLC 71 3.12% $10,063
Advisors Mortgage Group, L.L.C. 71 2.94% $9,883
ROUNDPOINT MORTGAGE SERVICING CORPORATION 70 3.28% $7,151
Quaint Oak Mortgage, LLC 69 3.02% $8,409
Summit Mortgage Corporation 69 2.97% $9,739
Univest Bank and Trust Co. 67 2.94% $8,813
PLANET HOME LENDING, LLC 58 2.76% $5,718
First Guaranty Mortgage Corporation 52 2.86% $9,174
PRIMARY RESIDENTIAL MORTGAGE, INC. 52 3.54% $10,196
AmRes Corporation 52 3.12% $9,364
Philadelphia Mortgage Advisors, Inc. 50 3.17% $8,360
APEX HOME LOANS, INC. 50 3.13% $11,511
Firstrust Savings Bank 50 2.88% $8,842
AMERICAN HERITAGE FCU 49 3.07% $7,517
GUARANTEED RATE AFFINITY, LLC 47 2.84% $9,600
AMERISAVE MORTGAGE CORPORATION 47 3.01% $9,826
NFM, INC. 47 3.27% $10,992
ENVOY MORTGAGE, LTD 44 3.34% $10,522
PRIMELENDING, A PLAINSCAPITAL COMPANY 44 3.32% $8,941
Paramount Residential Mortgage Group, Inc. 43 3.21% $9,434
DRAPER AND KRAMER MORTGAGE CORP. 41 3.28% $9,519
MORTGAGE ACCESS CORP. 39 3.12% $9,513
Gateway First Bank 36 3.20% $6,969
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 34 3.30% $9,300
EMBRACE HOME LOANS, INC. 33 2.79% $8,004
RESIDENTIAL MORTGAGE SERVICES, INC. 32 3.05% $8,997
PLAZA HOME MORTGAGE, INC. 32 2.98% $11,309
BAYSHORE MORTGAGE FUNDING, LLC 30 3.24% $11,200
NP, Inc. 30 3.41% $9,739
MLB RESIDENTIAL LENDING, LLC 29 3.48% $10,938
Northpointe Bank 29 3.25% $8,461
Fulton Bank 28 2.92% $7,768
Hometown Lenders, Inc. 26 3.02% $11,334
GUARANTY HOME MORTGAGE CORPORATION 25 2.71% $10,524
Wilmington Savings Fund Society, FSB 25 3.04% $7,536
NVR Mortgage Finance, Inc. 25 2.99% $12,071
InterContinental Capital Group, Inc 23 2.76% $9,988
RELIANCE FIRST CAPITAL, LLC 22 2.92% $11,836
LENDUS, LLC 22 3.14% $9,743
HOMESIDE FINANCIAL, LLC 22 3.21% $9,347
US MORTGAGE CORPORATION 22 3.05% $10,057
CONTOUR MORTGAGE CORPORATION 22 3.02% $9,203
NATIONWIDE MORTGAGE BANKERS, INC. 20 3.24% $10,538
SUN WEST MORTGAGE COMPANY, INC. 20 3.01% $8,864
DEVELOPER'S MORTGAGE COMPANY 20 2.96% $7,356
PNC Bank 20 2.91% $7,492
The Federal Savings Bank 19 2.78% $10,573
Manufacturers and Traders Trust Company 18 2.99% $8,984
Home Mortgage Alliance Corp 18 3.01% $11,356
TOP FLITE FINANCIAL, INC. 17 3.30% $16,351
STEARNS LENDING, LLC 17 2.96% $8,707
Santander Bank, N.A. 17 2.82% $7,189
PHH Mortgage Corporation 17 3.36% $7,327
Plains Commerce Bank 17 2.80% $9,689
TIDEWATER MORTGAGE SERVICES, INC. 16 3.00% $8,212
Bank of England 16 3.21% $10,008
Evesham Mortgage, LLC 15 3.30% $9,697
Princeton Mortgage Corporation 15 2.99% $8,804
Mortgage Research Center, LLC 15 3.08% $5,974
FIRST ALLIANCE HOME MORTGAGE, LLC 15 3.00% $8,215
Flagstar Bank, FSB 15 2.74% $9,142
TOWNE MORTGAGE COMPANY 14 2.97% $9,845
UNION HOME MORTGAGE CORP. 14 2.88% $9,403
PIKE CREEK MORTGAGE SERVICES, INC. 14 4.04% $5,231
Colonial Savings, F.A. 13 3.06% $5,761
Republic Bank 13 2.92% $6,487
RAPID MORTGAGE COMPANY 12 2.95% $9,664
MUTUAL OF OMAHA MORTGAGE, INC. 12 3.13% $10,068
OCEANSIDE MORTGAGE COMPANY 12 2.84% $4,414
Northeast Equitable Mortgage, LLC 11 3.02% $9,329
AMERICAN FINANCING CORPORATION 11 2.84% $10,047
ZILLOW HOME LOANS, LLC 10 2.89% $8,613
SOVEREIGN LENDING GROUP INCORPORATED 10 2.64% $10,023
NJ LENDERS CORP. 9 2.79% $10,158
Mortgage Network, Inc. 9 2.87% $9,209
GUILD MORTGAGE COMPANY 9 3.43% $8,607
OCMBC, INC. 9 3.32% $11,678
LEADERONE FINANCIAL CORPORATION 9 3.14% $8,271
TD Bank 9 3.01% $6,098
Atlantic Home Loans, Inc. 8 3.11% $10,317
MORIA DEVELOPMENT, INC. 8 3.52% $11,017
Residential Mortgage Solutions, Inc. 8 3.05% $10,126
ACADEMY MORTGAGE CORPORATION 8 3.06% $8,509
Blue Ridge Bank 8 2.91% $8,915
First Federal Bank 8 3.11% $9,459
RESIDENTIAL HOME FUNDING CORP. 8 3.13% $9,833
FAMILY FIRST FUNDING LLC 7 3.27% $10,422
U.S. Bank 7 2.61% $8,461
AMERICAN FINANCIAL RESOURCES, INC. 7 3.16% $11,204
SWBC MORTGAGE CORPORATION 7 3.41% $8,863
Wells Fargo Bank 7 3.32% $6,954
JPMorgan Chase Bank 7 3.03% $6,117
Hometown Equity Mortgage, LLC 7 3.59% $11,261
EAGLE HOME MORTGAGE, LLC 6 3.19% $11,893
ARC HOME LLC 6 2.96% $7,970
UNITED SECURITY FINANCIAL CORP 6 2.77% $7,298
Presidential Bank, FSB 6 3.21% $7,831
GENEVA FINANCIAL, LLC 6 3.44% $9,231
MDE Home Loans, LLC 6 2.92% $13,470
RESIDENTIAL BANCORP. 6 2.77% $8,610
MILEND, INC. 6 3.10% $12,185
Evolve Bank & Trust 6 3.02% $10,589
Century Mortgage Company DBA Century Lending Company 5 3.20% $10,436
LIBERTY HOME MORTGAGE CORPORATION 5 3.15% $8,631
Sierra Pacific Mortgage Company, Inc. 5 2.80% $6,581
KELLER MORTGAGE, LLC 5 2.65% $7,898
1st Colonial Community Bank 4 2.94% $9,032
DIRECT MORTGAGE LOANS, LLC 4 3.47% $9,782
EVERETT FINANCIAL, INC. 4 3.28% $7,428
NATIONS DIRECT MORTGAGE, LLC 4 2.97% $12,248
RUOFF MORTGAGE COMPANY, INC. 4 3.28% $6,301
SOUTHERN TRUST MORTGAGE, LLC 4 3.03% $6,798
UNITED MORTGAGE CORP. 4 2.84% $9,941
UNITED NORTHERN MORTGAGE BANKERS LIMITED 4 3.19% $12,659
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 3.17% $11,155
ROYAL UNITED MORTGAGE LLC 3 2.79% $12,295
1ST FINANCIAL, INC. 3 3.38% $10,048
MID AMERICA MORTGAGE, INC. 3 3.00% $2,056
First Home Bank 3 3.17% $8,738
AMERICAN PACIFIC MORTGAGE CORPORATION 3 2.88% $11,677
T2 FINANCIAL LLC 3 3.29% $9,780
AMCAP MORTGAGE, LTD. 3 3.54% $9,065
LENOX FINANCIAL MORTGAGE CORPORATION 3 3.04% $7,975
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 3.25% $18,443
Barrington Bank & Trust Company, N.A. 3 3.00% $7,506
NORWICH COMMERCIAL GROUP, INC. 3 3.21% $10,696
FEDERATED LENDING CORPORATION 3 3.17% $6,569
First Option Mortgage, LLC 3 3.08% $12,489
Truist Bank 2 2.81% $6,521
DHI MORTGAGE COMPANY, LTD. 2 2.88% $11,115
American Mortgage Bank, LLC 2 3.50% $8,935
GREENWAY MORTGAGE FUNDING CORP. 2 2.50% $9,477
Goldwater Bank, N.A. 2 3.38% $8,415
MLD MORTGAGE INC. 2 2.88% $7,142
JLB CORPORATION 2 2.44% $13,186
George Mason Mortgage, LLC 2 2.87% $8,546
MILLENIUM HOME MORTGAGE, LLC 2 2.88% $11,280
MID-ISLAND MORTGAGE CORP. 2 3.00% $10,737
North American Savings Bank, F.S.B. 2 2.88% $7,059
Strong Home Mortgage, LLC 2 3.38% $4,191
FIRST HOME MORTGAGE CORPORATION 2 2.94% $8,039
CHURCHILL MORTGAGE CORPORATION 2 3.19% $12,011
CELEBRITY HOME LOANS, LLC 2 3.69% $16,435
HOWARD HANNA FINANCIAL SERVICES, INC. 2 3.56% $7,299
Homesale Mortgage, LLC 2 2.81% $6,560
Magnolia Bank 2 3.13% $10,115
TIAA, FSB 2 2.50% $10,459
Peoples Bank 2 3.63% $10,719
TOTAL MORTGAGE SERVICES, LLC 2 4.00% $10,092
East Coast Capital Corp. 2 2.94% $9,595
CityWorth Mortgage LLC 1 3.75% $17,940
Capital Bank 1 2.63% $9,074
TBI MORTGAGE COMPANY 1 2.75% $12,664
BNC National Bank 1 3.00% $6,313
BETTER MORTGAGE CORPORATION 1 2.38% $8,977
The Huntington National Bank 1 3.38% $10,738
THE MORTGAGE LINK, INC. 1 2.88% $7,759
BELEM SERVICING LLC 1 3.25% $6,298
Austin Capital Bank SSB 1 2.75% $5,692
York Traditions Bank 1 3.00% $6,086
NBKC BANK 1 2.50% $9,103
ANGEL OAK HOME LOANS LLC 1 3.13% $5,453
Ameris Bank 1 3.00% $8,966
AFFORDABLE MORTGAGE ADVISORS, LLC. 1 2.63% $12,256
A&D Mortgage LLC 1 3.63% $8,265
NATIONS RELIABLE LENDING, LLC 1 2.50% $10,431
1st Constitution Bank 1 3.38% $10,550
MICHIGAN MUTUAL, INC. 1 2.50% $14,854
MEMBERS 1ST FEDERAL CREDIT UNION 1 2.38% $7,484
MEMBER FIRST MORTGAGE, LLC 1 3.25% $6,510
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 3.63% $19,647
Low VA Rates, LLC 1 2.50% $4,366
LOANPAL, LLC 1 2.88% $11,623
OPEN MORTGAGE, LLC 1 2.63% $10,370
Paramount Bank 1 3.25% $7,466
KS StateBank 1 2.25% $10,317
KeyBank 1 3.00% $11,229
JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 1 3.88% $9,602
PINNACLE MORTGAGE, INC. 1 3.50% $9,673
INTERCOASTAL MORTGAGE COMPANY 1 3.00% $7,538
HUDSON VALLEY CREDIT UNION 1 3.25% $6,681
POLARIS HOME FUNDING CORP. 1 3.25% $11,093
PREMIA MORTGAGE, LLC 1 2.38% $9,772
Premium Mortgage Corporation 1 2.63% $6,847
Prime Choice Funding Inc. 1 2.25% $19,003
GENNEXT FUNDING, LLC 1 3.88% $7,506
Florida Capital Bank 1 3.13% $22,146
First Savings Bank 1 3.50% $17,848
FIRST COMMUNITY MORTGAGE, INC. 1 2.50% $11,048
Fifth Third Bank 1 3.13% $8,154
RESIDENTIAL HOME MORTGAGE CORPORATION 1 3.50% $6,462
FBC MORTGAGE, LLC 1 2.75% $10,755
EQUITY NOW INC. 1 3.25% $9,991
Sail Mortgage Corp. 1 2.50% $9,611
DATA MORTGAGE, INC. 1 4.63% $7,662
SIWELL, INC. 1 3.25% $5,354
Wyndham Capital Mortgage, Inc. 1 2.88% $11,154
SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.75% $7,734
SOUTHWEST STAGE FUNDING, LLC 1 3.75% $8,907
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 2.88% $7,672
Specialized Loan Servicing LLC 1 2.25% $6,168
CLIFFCO, INC. 1 3.50% $17,972

The top Philadelphia FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 1,140 FHA loans originated. Their average total fees are $7,396, which is $2,428 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee Philadelphia FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($3,754), OCEANSIDE MORTGAGE COMPANY ($4,414), Bank of America ($4,860), PIKE CREEK MORTGAGE SERVICES, INC. ($5,231) and Mr. Cooper ( Nationstar Mortgage ) ($5,249).

The lowest rate Philadelphia FHA lenders (with over 10 loans originated) are SOVEREIGN LENDING GROUP INCORPORATED (2.64%), UNITED WHOLESALE MORTGAGE, LLC (2.69%), GUARANTY HOME MORTGAGE CORPORATION (2.71%), Flagstar Bank, FSB (2.74%) and QUICKEN LOANS, LLC (2.76%).


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%) $343,281 (3.3%) 0.85 20,339
2018-02-01 $237,000 (7.8%) $345,647 (2.3%) 0.85 20,590
2018-03-01 $240,000 (4.7%) $355,764 (2.7%) 0.83 19,886
2018-04-01 $249,950 (6.4%) $369,050 (3.8%) 0.84 20,785
2018-05-01 $264,500 (8.0%) $383,010 (5.4%) 0.88 21,602
2018-06-01 $269,000 (8.1%) $388,456 (5.5%) 0.90 22,210
2018-07-01 $269,450 (7.8%) $387,880 (6.1%) 0.90 22,358
2018-08-01 $262,450 (5.7%) $382,698 (6.2%) 0.88 22,361
2018-09-01 $262,000 (6.1%) $382,055 (5.6%) 0.88 22,688
2018-10-01 $264,950 (6.0%) $382,170 (4.5%) 0.89 23,033
2018-11-01 $263,522 (8.7%) $379,513 (7.4%) 0.88 22,287
2018-12-01 $254,900 (7.5%) $373,201 (7.6%) 0.87 20,457
2019-01-01 $249,900 (8.7%) $363,923 (6.0%) 0.86 18,903
2019-02-01 $251,500 (6.1%) $368,398 (6.6%) 0.84 18,647
2019-03-01 $265,286 (10.5%) $383,560 (7.8%) 0.86 19,042
2019-04-01 $275,000 (10.0%) $395,831 (7.3%) 0.87 19,536
2019-05-01 $287,950 (8.9%) $406,697 (6.2%) 0.89 20,302
2019-06-01 $289,900 (7.8%) $408,518 (5.2%) 0.89 20,743
2019-07-01 $287,000 (6.5%) $406,737 (4.9%) 0.89 20,591
2019-08-01 $289,286 (10.2%) $409,485 (7.0%) 0.91 19,629
2019-09-01 $297,000 (13.4%) $421,214 (10.3%) 0.94 18,514
2019-10-01 $299,000 (12.9%) $428,117 (12.0%) 0.95 18,561
2019-11-01 $295,000 (12.0%) $423,999 (11.7%) 0.95 17,530
2019-12-01 $287,604 (12.8%) $422,320 (13.2%) 0.96 15,078
2020-01-01 $285,000 (14.1%) $420,342 (15.5%) 0.95 13,657
2020-02-01 $291,900 (16.1%) $433,129 (17.6%) 0.94 13,176
2020-03-01 $299,950 (13.1%) $447,228 (16.6%) 0.94 13,245
2020-04-01 $299,900 (9.1%) $445,648 (12.6%) 0.93 11,986
2020-05-01 $311,131 (8.1%) $454,994 (11.9%) 0.94 12,462
2020-06-01 $327,450 (13.0%) $475,821 (16.5%) 0.96 12,455
2020-07-01 $339,950 (18.5%) $496,733 (22.1%) 0.97 11,429
2020-08-01 $342,900 (18.5%) $506,456 (23.7%) 0.98 10,834
2020-09-01 $343,032 (15.5%) $510,361 (21.2%) 0.98 10,799
2020-10-01 $349,000 (16.7%) $516,866 (20.7%) 1.00 10,808
2020-11-01 $339,500 (15.1%) $512,902 (21.0%) 0.97 10,399
2020-12-01 $327,000 (13.7%) $505,018 (19.6%) 0.96 9,091
2021-01-01 $324,000 (13.7%) $507,994 (20.9%) 0.95 7,911
2021-02-01 $322,450 (10.5%) $518,908 (19.8%) 0.93 7,113
2021-03-01 $325,000 (8.4%) $529,998 (18.5%) 0.91 7,227
2021-04-01 $339,450 (13.2%) $546,861 (22.7%) 0.91 7,574
2021-05-01 $339,900 (9.3%) $526,530 (15.7%) 0.89 8,161
2021-06-01 $334,900 (2.3%) $504,213 (6.0%) 0.87 9,826
2021-07-01 $325,000 (-4.4%) $490,693 (-1.2%) 0.84 10,530
2021-08-01 $320,000 (-6.7%) $473,091 (-6.6%) 0.84 10,911
2021-09-01 $319,950 (-6.7%) $470,053 (-7.9%) 0.84 10,970
2021-10-01 $319,999 (-8.3%) $472,739 (-8.5%) 0.84 10,623
2021-11-01 $312,450 (-8.0%) $472,371 (-7.9%) 0.82 9,729
2021-12-01 $299,950 (-8.3%) $468,154 (-7.3%) 0.80 8,358
2022-01-01 $299,900 (-7.4%) $479,692 (-5.6%) 0.80 6,917
Philadelphia's median listing price for 2022-01-01 was $299,900, a difference of $-24,100 (-7.4%) versus the prior year and $-50 versus the prior month.

Philadelphia's median listing price comes in at 80% of the national average.

Philadelphia's average listing price for 2022-01-01 was $479,692, a difference of $-28,302 (-5.6%) versus the prior year and $11,538 versus the prior month.

For the 2022-01-01 period, Philadelphia had 6,917 MLS listings, a difference of -1,441 listings (-17%) versus the prior month and -994 listings (-13%) 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 87 days 1,700 sqft
2018-02-01 80 days 1,702 sqft
2018-03-01 59 days 1,714 sqft
2018-04-01 55 days 1,749 sqft
2018-05-01 52 days 1,795 sqft
2018-06-01 53 days 1,820 sqft
2018-07-01 60 days 1,824 sqft
2018-08-01 63 days 1,803 sqft
2018-09-01 64 days 1,800 sqft
2018-10-01 64 days 1,800 sqft
2018-11-01 66 days 1,800 sqft
2018-12-01 75 days 1,780 sqft
2019-01-01 83 days 1,806 sqft
2019-02-01 79 days 1,853 sqft
2019-03-01 57 days 1,853 sqft
2019-04-01 49 days 1,853 sqft
2019-05-01 48 days 1,878 sqft
2019-06-01 52 days 1,884 sqft
2019-07-01 59 days 1,860 sqft
2019-08-01 63 days 1,864 sqft
2019-09-01 63 days 1,892 sqft
2019-10-01 61 days 1,890 sqft
2019-11-01 64 days 1,853 sqft
2019-12-01 75 days 1,832 sqft
2020-01-01 82 days 1,800 sqft
2020-02-01 69 days 1,825 sqft
2020-03-01 49 days 1,849 sqft
2020-04-01 62 days 1,831 sqft
2020-05-01 73 days 1,864 sqft
2020-06-01 59 days 1,885 sqft
2020-07-01 46 days 1,879 sqft
2020-08-01 45 days 1,850 sqft
2020-09-01 43 days 1,797 sqft
2020-10-01 48 days 1,786 sqft
2020-11-01 52 days 1,745 sqft
2020-12-01 61 days 1,688 sqft
2021-01-01 70 days 1,643 sqft
2021-02-01 65 days 1,618 sqft
2021-03-01 48 days 1,628 sqft
2021-04-01 40 days 1,663 sqft
2021-05-01 38 days 1,680 sqft
2021-06-01 37 days 1,671 sqft
2021-07-01 41 days 1,655 sqft
2021-08-01 43 days 1,625 sqft
2021-09-01 47 days 1,605 sqft
2021-10-01 49 days 1,598 sqft
2021-11-01 51 days 1,558 sqft
2021-12-01 58 days 1,533 sqft
2022-01-01 65 days 1,508 sqft
Philadelphia's median listing age (time on market) for 2022-01-01 was 65 days. This is -7% shorter than the same period one year ago.

Philadelphia's median square footage for active listings during the 2022-01-01 period was 1,508 sqft. One year prior, the average listing was 1,643 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).