Pittsburgh FHA Loan Rates, Closing Costs & Stats

PITTSBURGH, 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.

Pittsburgh's 174 lenders originated 4,280 FHA loans during 2023. The total origination value was $786,900,000, with an average FHA loan value of $183,855.

Pittsburgh FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Pittsburgh averaged -0.25% for the week of 2024-06-21, compared to the national average (all FHA variants) of 0% for the same period.

Pittsburgh's average FHA mortgage closing costs are $7,129.

The average rate for the prior week (2024-06-14) was 6.65% and one month ago for the week of 2024-05-17, the average rate was 6.69%.

The average rate one year ago was 6.58%.

For refis of the same type during the week of 2024-06-21, the average rate was 0.17%.

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

Pittsburgh 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 Pittsburgh level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 559 6.40% $9,145
UNITED WHOLESALE MORTGAGE, LLC 324 6.38% $10,470
Citizens Bank 146 6.57% $8,460
MOVEMENT MORTGAGE, LLC 126 6.90% $9,955
HOWARD HANNA FINANCIAL SERVICES, INC. 122 6.51% $7,743
Victorian Finance, LLC 120 6.54% $9,961
PLAZA HOME MORTGAGE, INC. 117 6.47% $10,191
STOCKTON MORTGAGE CORPORATION 107 6.71% $9,924
JLB CORPORATION 103 6.53% $9,679
NVR Mortgage Finance, Inc. 89 6.11% $13,284
CROSSCOUNTRY MORTGAGE, LLC 86 6.72% $10,138
UNION HOME MORTGAGE CORP. 84 6.68% $10,415
WEST PENN FINANCIAL SERVICE CENTER, INC. 80 6.54% $7,668
The Huntington National Bank 73 6.73% $7,502
PENNYMAC LOAN SERVICES, LLC 69 6.30% $10,755
WELCOME HOME FINANCE, L.P. 69 6.29% $5,187
EQUITY RESOURCES, INC. 64 6.68% $9,242
LOANDEPOT.COM, LLC 58 6.44% $11,169
GUARANTEED RATE AFFINITY, LLC 54 6.66% $9,120
CARDINAL FINANCIAL 54 6.38% $10,457
PNC Bank 53 6.71% $6,786
Mr. Cooper ( Nationstar Mortgage ) 52 6.09% $12,244
BROKER SOLUTIONS, INC. 52 6.73% $10,533
AFFORDABLE MORTGAGE ADVISORS, LLC. 48 6.70% $9,291
FREEDOM MORTGAGE CORPORATION 48 7.03% $10,827
DEVELOPER'S MORTGAGE COMPANY 44 6.81% $5,453
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 43 6.91% $10,440
NEWREZ LLC 42 6.56% $10,053
GUARANTEED RATE, INC. 35 6.49% $9,916
Union Savings Bank 35 6.71% $7,082
RELIANCE FIRST CAPITAL, LLC 34 6.41% $9,999
Flagstar Bank, FSB 33 6.65% $9,390
FEDERATED MORTGAGE CORP. 29 6.77% $8,008
AMERISAVE MORTGAGE CORPORATION 27 6.33% $13,607
GUILD MORTGAGE COMPANY 26 6.43% $10,976
Equity Prime Mortgage LLC 26 6.66% $10,593
MUTUAL OF OMAHA MORTGAGE, INC. 25 6.68% $13,214
First Commonwealth Bank 24 6.42% $8,065
Dollar Bank, Federal Savings Bank 24 6.65% $7,031
Mortgage Research Center, LLC 24 7.16% $5,690
Carrington Mortgage Services, LLC 21 6.57% $10,106
ALLIED MORTGAGE GROUP, INC. 19 6.57% $10,340
TOWNE MORTGAGE COMPANY 19 6.35% $9,037
Sail Mortgage Corp. 18 6.43% $7,409
AMERICAN FINANCIAL NETWORK, INC. 18 6.73% $13,042
PLANET HOME LENDING, LLC 17 6.31% $12,767
Ixonia Bank 17 7.33% $8,782
PRIMELENDING, A PLAINSCAPITAL COMPANY 17 6.70% $10,399
NORWICH COMMERCIAL GROUP, INC. 16 6.73% $11,757
LAKEVIEW LOAN SERVICING, LLC 16 6.44% $10,550
LOANPAL, LLC 16 5.96% $9,848
Univest Bank and Trust Co. 15 6.75% $7,132
KeyBank 15 6.42% $7,165
HOMEBRIDGE FINANCIAL SERVICES, INC. 15 6.43% $7,006
BAY EQUITY LLC 14 6.81% $8,371
CMG MORTGAGE, INC. 14 7.19% $11,102
AMCAP MORTGAGE, LTD. 13 6.20% $10,542
Nations Lending Corporation 12 6.80% $7,986
ROYAL UNITED MORTGAGE LLC 11 7.00% $10,038
JPMorgan Chase Bank 11 6.63% $5,197
ZILLOW HOME LOANS, LLC 10 6.60% $10,208
EMM LOANS LLC 9 6.64% $11,823
Plains Commerce Bank 9 6.15% $11,177
WesBanco 9 6.40% $6,055
Bank of England 9 6.29% $9,600
TOP FLITE FINANCIAL, INC. 8 7.03% $10,732
AMERICAN FINANCING CORPORATION 8 6.14% $11,099
EVANSVILLE TEACHERS 7 6.34% $6,236
MICHIGAN MUTUAL, INC. 7 6.39% $9,606
VILLAGE CAPITAL MORTGAGE 7 5.55% $13,284
CONTOUR MORTGAGE CORPORATION 7 7.02% $10,416
Prosperity Home Mortgage, LLC 7 6.82% $10,804
Barrington Bank & Trust Company, N.A. 7 6.89% $8,294
NATIONWIDE MORTGAGE BANKERS, INC. 6 6.60% $12,046
Paramount Residential Mortgage Group, Inc. 6 6.77% $10,502
NFM, INC. 6 7.04% $9,869
First National Bank of Pennsylvania 6 6.19% $9,244
EVERETT FINANCIAL, INC. 6 6.96% $13,549
M&T Bank 5 6.38% $8,624
RUOFF MORTGAGE COMPANY, INC. 5 6.15% $5,163
HOMESIDE FINANCIAL, LLC 5 6.68% $11,078
AmeriServ Financial Bank 5 5.83% $9,664
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 6.45% $11,482
U.S. Bank 5 6.30% $11,046
MILEND, INC. 5 6.53% $13,869
CHURCHILL MORTGAGE CORPORATION 4 6.41% $11,066
AmeriHome Mortgage Company, LLC 4 6.00% $12,255
Gateway First Bank 4 7.38% $6,433
NATIONS DIRECT MORTGAGE, LLC 4 7.03% $9,784
LIBERTY HOME MORTGAGE CORPORATION 4 7.09% $9,677
SUN WEST MORTGAGE COMPANY, INC. 4 6.56% $10,702
SOUTHPOINT FINANCIAL SERVICES, INC. 4 6.38% $6,128
EMBRACE HOME LOANS, INC. 4 6.69% $11,301
TIDEWATER MORTGAGE SERVICES, INC. 4 6.94% $8,401
Century Mortgage Company DBA Century Lending Company 3 6.83% $10,796
Wells Fargo Bank 3 6.96% $8,343
CALIBER HOME LOANS, INC. 3 6.38% $11,613
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.75% $12,401
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 7.08% $9,491
GSF Mortgage Corporation 3 6.42% $9,527
TOTAL MORTGAGE SERVICES, LLC 3 6.42% $12,403
JMAC LENDING, INC. 3 6.96% $9,917
RESIDENTIAL HOME FUNDING CORP. 2 6.44% $12,446
HARTFORD FUNDING, LTD. 2 7.00% $8,358
SOVEREIGN LENDING GROUP INCORPORATED 2 5.88% $11,597
The Farmers National Bank of Canfield 2 6.31% $7,212
The Federal Savings Bank 2 6.25% $15,877
DHI MORTGAGE COMPANY, LTD. 2 5.75% $10,765
First Federal Bank of the Midwest 2 5.25% $8,311
NEW DAY FINANCIAL, LLC 2 7.62% $9,481
Princeton Mortgage Corporation 2 6.56% $9,711
BETTER MORTGAGE CORPORATION 2 6.50% $12,902
PENTAGON FEDERAL CREDIT UNION 2 6.56% $6,669
American Mortgage & Equity Consultants, Inc. 2 7.31% $15,334
US MORTGAGE CORPORATION 2 5.69% $13,957
POLARIS HOME FUNDING CORP. 2 7.13% $19,331
AMERICAN FINANCIAL RESOURCES, INC. 2 7.50% $12,732
Northwest Bank 2 6.13% $8,470
Colonial Savings, F.A. 2 6.88% $19,736
Magnolia Bank 2 6.13% $20,064
Lakeview Community Capital, LLC 2 6.37% $11,392
1ST SIGNATURE LENDING, LLC 1 6.25% $9,927
GENEVA FINANCIAL, LLC 1 7.50% $12,218
GUARANTY HOME MORTGAGE CORPORATION 1 5.75% $8,574
Franklin Loan Corporation 1 5.75% $15,834
HOMESPIRE MORTGAGE CORPORATION 1 7.25% $7,155
Hometown Equity Mortgage, LLC 1 5.75% $5,600
FIRST HOME MORTGAGE CORPORATION 1 7.25% $6,169
Integrity Home Mortgage Corp 1 7.00% $14,338
INTERCOASTAL MORTGAGE COMPANY 1 7.25% $6,832
FIRST HERITAGE FINANCIAL, LLC 1 6.49% $8,572
Fifth Third Bank 1 7.00% $8,633
Keystone Funding, Inc. 1 6.63% $4,770
Leader Bank 1 7.63% $14,588
LEGEND LENDING CORPORATION 1 6.75% $15,657
MEMBER FIRST MORTGAGE, LLC 1 7.00% $7,771
Meridian Bank Corporation 1 7.13% $6,516
MLB RESIDENTIAL LENDING, LLC 1 6.25% $8,029
Mortgage America, Inc. 1 5.63% $6,933
East Coast Capital Corp. 1 6.63% $10,559
DAS Acquisition Company, LLC 1 7.13% $11,942
CREDIT UNION MORTGAGE ASSOCIATION, INC. 1 7.25% $7,091
CORNERSTONE HOME LENDING, INC. 1 6.75% $7,976
NATIONS RELIABLE LENDING, LLC 1 7.25% $10,703
Neighborhood Loans, Inc. 1 7.63% $18,253
NETWORK CAPITAL FUNDING CORPORATION 1 7.13% $6,391
NJ LENDERS CORP. 1 5.25% $11,404
Northpointe Bank 1 7.13% $12,655
OAKTREE FUNDING CORP. 1 5.88% $17,485
ON Q FINANCIAL, INC. 1 7.00% $11,995
CHERRY CREEK MORTGAGE, LLC 1 6.25% $545
Peoples Bank 1 7.25% $7,046
Philadelphia Mortgage Advisors, Inc. 1 6.75% $9,382
Capital Bank 1 7.25% $6,340
PREMIA MORTGAGE, LLC 1 6.75% $2,941
BECKAM FUNDING CORP. 1 6.25% $20,622
RADIUS FINANCIAL GROUP INC. 1 7.13% $12,204
RAPID MORTGAGE COMPANY 1 6.63% $11,435
RESIDENTIAL BANCORP 1 6.75% $12,840
Residential Mortgage Solutions, Inc. 1 5.38% $11,105
Bank of America 1 6.88% $3,637
Sierra Pacific Mortgage Company, Inc. 1 6.63% $13,797
Simmons Bank 1 5.88% $16,017
AXIA FINANCIAL, LLC 1 6.75% $14,609
SUCCESS MORTGAGE PARTNERS, INC. 1 7.13% $5,870
T2 FINANCIAL LLC 1 7.13% $15,044
Town Square Mortgage & Investments, Inc. 1 6.63% $3,282
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $23,416
United Bank 1 6.75% $6,482
United Fidelity Funding Corp. 1 7.25% $18,837
Waterstone Mortgage Corporation 1 5.63% $19,268
Advisors Mortgage Group, L.L.C. 1 7.63% $9,296
Willamette Valley Bank 1 5.75% $9,544
George Mason Mortgage, LLC 1 6.25% $13,825

The top Pittsburgh FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 559 FHA loans originated. Their average total fees are $9,145, which is $1,325 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Pittsburgh FHA lenders (with over 10 loans originated) are WELCOME HOME FINANCE, L.P. ($5,187), JPMorgan Chase Bank ($5,197), DEVELOPER'S MORTGAGE COMPANY ($5,453), Mortgage Research Center, LLC ($5,690) and PNC Bank ($6,786).

The lowest rate Pittsburgh FHA lenders (with over 10 loans originated) are LOANPAL, LLC (5.96%), Mr. Cooper ( Nationstar Mortgage ) (6.09%), NVR Mortgage Finance, Inc. (6.11%), AMCAP MORTGAGE, LTD. (6.20%) and WELCOME HOME FINANCE, L.P. (6.29%).

Pittsburgh FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
PITTSBURGH, PA ALLEGHENY 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA ARMSTRONG 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA BEAVER 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA BUTLER 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA FAYETTE 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA WESTMORELAND 2022 $420,680 $538,650 $651,050 $809,150
PITTSBURGH, PA ALLEGHENY 2023 $472,030 $604,400 $730,525 $907,900
PITTSBURGH, PA ARMSTRONG 2023 $472,030 $604,400 $730,525 $907,900
PITTSBURGH, PA BEAVER 2023 $472,030 $604,400 $730,525 $907,900
PITTSBURGH, PA BUTLER 2023 $472,030 $604,400 $730,525 $907,900
PITTSBURGH, PA FAYETTE 2023 $472,030 $604,400 $730,525 $907,900
PITTSBURGH, PA WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
PITTSBURGH, PA WESTMORELAND 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).