Pottsville FHA Loans

Pottsville, 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.

    Pottsville's 87 lenders originated 507 FHA loans during 2021. The total origination value was $65,915,000, with an average FHA loan value of $130,010.

    Pottsville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Pottsville averaged 5.25% for the week of 2022-08-05, compared to the national average (all FHA variants) of 5.305% for the same period.

    The average rate for the prior week (2022-07-29) was 5.49% and one month ago for the week of 2022-07-01, the average rate was 5.78%.

    The average rate one year ago was 3.19%.

    For refis of the same type during the week of 2022-08-05, the average rate was 5.15%.

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

    Pottsville 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 Pottsville level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 91 2.84% $5,673
    CROSSCOUNTRY MORTGAGE, LLC 47 3.27% $7,711
    Mortgage America, Inc. 43 3.24% $5,149
    CALIBER HOME LOANS, INC. 27 2.95% $5,231
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 17 3.51% $5,181
    Manufacturers and Traders Trust Company 11 3.17% $5,693
    Mr. Cooper ( Nationstar Mortgage ) 10 3.50% $4,150
    FREEDOM MORTGAGE CORPORATION 9 2.97% $5,045
    UNITED WHOLESALE MORTGAGE, LLC 8 2.70% $7,700
    NEWREZ LLC 8 2.87% $4,886
    Prosperity Home Mortgage, LLC 7 3.61% $6,751
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 3.26% $6,758
    RESIDENTIAL MORTGAGE SERVICES, INC. 6 3.21% $6,220
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 3.21% $7,637
    Alcova Mortgage LLC 6 3.13% $4,658
    LAKEVIEW LOAN SERVICING, LLC 6 3.08% $5,563
    PENNYMAC LOAN SERVICES, LLC 5 2.90% $5,414
    MOVEMENT MORTGAGE, LLC 5 3.13% $4,834
    BROKER SOLUTIONS, INC. 4 3.28% $6,985
    SUN WEST MORTGAGE COMPANY, INC. 4 3.19% $7,705
    Homesale Mortgage, LLC 4 2.97% $6,273
    Carrington Mortgage Services, LLC 4 3.75% $5,802
    FIRST ALLIANCE HOME MORTGAGE, LLC 4 3.09% $6,549
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 3.68% $6,214
    FIRST HERITAGE FINANCIAL, LLC 3 3.17% $5,930
    EMM LOANS LLC 3 3.08% $7,584
    NFM, INC. 3 3.33% $6,418
    FAMILY FIRST FUNDING LLC 3 3.50% $10,101
    Paramount Residential Mortgage Group, Inc. 3 3.50% $7,706
    FINANCE OF AMERICA MORTGAGE LLC 3 3.25% $7,709
    STEARNS LENDING, LLC 3 2.88% $7,308
    SUCCESS MORTGAGE PARTNERS, INC. 3 3.29% $6,231
    Univest Bank and Trust Co. 3 3.08% $5,522
    Fulton Bank 3 2.67% $5,652
    GUARANTEED RATE, INC. 3 3.33% $6,393
    VILLAGE CAPITAL & INVESTMENT LLC 2 2.94% $1,677
    ZILLOW HOME LOANS, LLC 2 3.81% $5,645
    Meridian Bank Corporation 2 2.75% $5,827
    Bank of England 2 3.00% $6,244
    AMERICAN FINANCIAL NETWORK, INC. 2 3.75% $10,495
    UNION HOME MORTGAGE CORP. 2 2.81% $6,097
    Truist Bank 2 2.80% $5,424
    First National Bank of Pennsylvania 2 3.00% $6,200
    Citizens Bank 2 3.00% $5,327
    AmeriHome Mortgage Company, LLC 2 3.63% $3,929
    Northpointe Bank 2 2.81% $6,601
    ARC HOME LLC 2 2.56% $6,591
    UNITED MORTGAGE CORP. 2 3.13% $8,162
    ALLIED MORTGAGE GROUP, INC. 2 3.69% $5,411
    LOANDEPOT.COM, LLC 2 3.62% $5,927
    Mid Penn Bank 1 2.88% $5,643
    ACADEMY MORTGAGE CORPORATION 1 3.75% $9,483
    AMCAP MORTGAGE, LTD. 1 3.75% $5,647
    AMERICAN FINANCIAL RESOURCES, INC. 1 2.75% $9,767
    AMERICAN FINANCING CORPORATION 1 3.88% $4,818
    AMERICAN HERITAGE FCU 1 3.25% $4,307
    AMERISAVE MORTGAGE CORPORATION 1 3.63% $6,375
    Atlantic Home Loans, Inc. 1 3.25% $4,354
    BAYSHORE MORTGAGE FUNDING, LLC 1 3.25% $6,258
    BNC National Bank 1 4.25% $5,814
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 4.13% $6,055
    Century Mortgage Company DBA Century Lending Company 1 3.63% $4,797
    Customers Bank 1 3.50% $6,357
    EMBRACE HOME LOANS, INC. 1 2.63% $8,319
    First Guaranty Mortgage Corporation 1 3.38% $4,678
    GUILD MORTGAGE COMPANY 1 3.50% $11,178
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.50% $6,630
    HOME POINT FINANCIAL CORPORATION 1 2.75% $6,434
    HOMESIDE FINANCIAL, LLC 1 2.88% $8,320
    HOMESTEAD FUNDING CORP. 1 3.25% $5,418
    Hometown Lenders, Inc. 1 3.13% $9,872
    Huntingdon Valley Bank 1 3.25% $9,274
    LIBERTY HOME MORTGAGE CORPORATION 1 3.25% $8,281
    MEMBER FIRST MORTGAGE, LLC 1 2.63% $8,915
    MEMBERS 1ST FEDERAL CREDIT UNION 1 2.75% $6,754
    ABSOLUTE HOME MORTGAGE CORPORATION 1 3.25% $7,142
    MORTGAGE ACCESS CORP. 1 3.75% $5,422
    Mortgage Research Center, LLC 1 3.38% $4,069
    NATIONS DIRECT MORTGAGE, LLC 1 3.25% $12,650
    OCMBC, INC. 1 3.38% $9,539
    Plains Commerce Bank 1 3.13% $4,285
    PLANET HOME LENDING, LLC 1 2.75% $3,491
    PLAZA HOME MORTGAGE, INC. 1 3.50% $10,600
    PNC Bank 1 3.13% $5,772
    RELIANCE FIRST CAPITAL, LLC 1 2.88% $11,203
    SWBC MORTGAGE CORPORATION 1 3.50% $3,714
    U.S. Bank 1 2.75% $5,955

    The top Pottsville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 91 FHA loans originated. Their average total fees are $5,673, which is $2,037 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Pottsville FHA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($4,150), Mortgage America, Inc. ($5,149), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($5,181), CALIBER HOME LOANS, INC. ($5,231) and QUICKEN LOANS, LLC ($5,673).

    The lowest rate Pottsville FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.84%), CALIBER HOME LOANS, INC. (2.95%), Manufacturers and Traders Trust Company (3.17%), Mortgage America, Inc. (3.24%) and CROSSCOUNTRY MORTGAGE, LLC (3.27%).

    Pottsville FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    POTTSVILLE, PA SCHUYLKILL 2022 $420,680 $538,650 $651,050 $809,150

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Pottsville (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 $72,900 (-6.5%) $125,289 (4.4%) 0.27 575
    2018-02-01 $74,900 (-3.7%) $128,032 (4.8%) 0.27 582
    2018-03-01 $79,900 (0.0%) $132,553 (-3.5%) 0.28 530
    2018-04-01 $74,900 (-5.2%) $132,970 (-4.1%) 0.25 531
    2018-05-01 $75,900 (-1.4%) $133,506 (-2.3%) 0.25 529
    2018-06-01 $75,000 (-2.3%) $131,267 (-0.4%) 0.25 568
    2018-07-01 $75,000 (-4.5%) $129,071 (0.6%) 0.25 566
    2018-08-01 $72,450 (-3.3%) $129,175 (3.0%) 0.24 570
    2018-09-01 $75,500 (8.0%) $141,739 (16.1%) 0.25 600
    2018-10-01 $77,450 (3.5%) $141,726 (11.2%) 0.26 591
    2018-11-01 $75,000 (1.5%) $140,615 (11.2%) 0.25 570
    2018-12-01 $74,900 (7.0%) $139,194 (11.7%) 0.26 519
    2019-01-01 $79,900 (9.6%) $142,295 (13.6%) 0.28 484
    2019-02-01 $74,000 (-1.2%) $142,810 (11.5%) 0.25 456
    2019-03-01 $74,671 (-6.5%) $147,761 (11.5%) 0.24 464
    2019-04-01 $76,621 (2.3%) $154,684 (16.3%) 0.24 488
    2019-05-01 $76,500 (0.8%) $156,566 (17.3%) 0.24 504
    2019-06-01 $82,500 (10.0%) $156,835 (19.5%) 0.25 521
    2019-07-01 $83,700 (11.6%) $160,308 (24.2%) 0.26 538
    2019-08-01 $89,957 (24.2%) $176,193 (36.4%) 0.28 500
    2019-09-01 $98,657 (30.7%) $196,579 (38.7%) 0.31 431
    2019-10-01 $99,900 (29.0%) $198,872 (40.3%) 0.32 440
    2019-11-01 $104,900 (39.9%) $190,825 (35.7%) 0.34 397
    2019-12-01 $112,000 (49.5%) $177,831 (27.8%) 0.37 383
    2020-01-01 $109,950 (37.6%) $169,504 (19.1%) 0.37 328
    2020-02-01 $109,900 (48.5%) $166,774 (16.8%) 0.35 285
    2020-03-01 $122,400 (63.9%) $170,886 (15.7%) 0.38 279
    2020-04-01 $115,000 (50.1%) $167,316 (8.2%) 0.36 257
    2020-05-01 $115,000 (50.3%) $171,741 (9.7%) 0.35 265
    2020-06-01 $109,000 (32.1%) $182,325 (16.3%) 0.32 252
    2020-07-01 $109,150 (30.4%) $190,236 (18.7%) 0.31 217
    2020-08-01 $110,000 (22.3%) $187,172 (6.2%) 0.31 196
    2020-09-01 $109,500 (11.0%) $198,022 (0.7%) 0.31 183
    2020-10-01 $125,000 (25.1%) $238,992 (20.2%) 0.36 181
    2020-11-01 $119,950 (14.4%) $272,803 (43.0%) 0.34 171
    2020-12-01 $112,500 (0.5%) $283,557 (59.5%) 0.33 157
    2021-01-01 $110,000 (0.1%) $282,369 (66.6%) 0.32 152
    2021-02-01 $113,950 (3.7%) $293,847 (76.2%) 0.33 106
    2021-03-01 $112,450 (-8.1%) $291,343 (70.5%) 0.32 98
    2021-04-01 $128,450 (11.7%) $333,943 (99.6%) 0.35 88
    2021-05-01 $135,000 (17.4%) $314,643 (83.2%) 0.36 93
    2021-06-01 $102,500 (-6.0%) $245,475 (34.6%) 0.27 167
    2021-07-01 $112,500 (3.1%) $243,547 (28.0%) 0.29 170
    2021-08-01 $111,000 (0.9%) $185,090 (-1.1%) 0.29 184
    2021-09-01 $112,450 (2.7%) $178,964 (-9.6%) 0.30 192
    2021-10-01 $105,000 (-16.0%) $184,976 (-22.6%) 0.28 177
    2021-11-01 $94,950 (-20.8%) $171,818 (-37.0%) 0.25 188
    2021-12-01 $99,000 (-12.0%) $174,786 (-38.4%) 0.26 186
    2022-01-01 $98,900 (-10.1%) $174,992 (-38.0%) 0.26 165
    2022-02-01 $118,500 (4.0%) $173,766 (-40.9%) 0.30 172
    2022-03-01 $124,950 (11.1%) $171,495 (-41.1%) 0.31 164
    2022-04-01 $137,500 (7.1%) $175,116 (-47.6%) 0.32 156
    2022-05-01 $139,450 (3.3%) $180,548 (-42.6%) 0.31 169
    2022-06-01 $139,900 (36.5%) $191,901 (-21.8%) 0.31 209
    Pottsville's median listing price for 2022-06-01 was $139,900, a difference of $37,400 (36.5%) versus the prior year and $450 versus the prior month.

    Pottsville's median listing price comes in at 31% of the national average.

    Pottsville's average listing price for 2022-06-01 was $191,901, a difference of $-53,574 (-21.8%) versus the prior year and $11,353 versus the prior month.

    For the 2022-06-01 period, Pottsville had 209 MLS listings, a difference of 40 listings (24%) versus the prior month and 42 listings (25%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Pottsville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 111 days 1,563 sqft
    2018-02-01 110 days 1,588 sqft
    2018-03-01 109 days 1,600 sqft
    2018-04-01 99 days 1,598 sqft
    2018-05-01 90 days 1,596 sqft
    2018-06-01 69 days 1,658 sqft
    2018-07-01 68 days 1,610 sqft
    2018-08-01 74 days 1,622 sqft
    2018-09-01 80 days 1,658 sqft
    2018-10-01 76 days 1,684 sqft
    2018-11-01 81 days 1,680 sqft
    2018-12-01 95 days 1,680 sqft
    2019-01-01 107 days 1,665 sqft
    2019-02-01 106 days 1,654 sqft
    2019-03-01 93 days 1,660 sqft
    2019-04-01 74 days 1,667 sqft
    2019-05-01 64 days 1,667 sqft
    2019-06-01 67 days 1,656 sqft
    2019-07-01 72 days 1,680 sqft
    2019-08-01 75 days 1,707 sqft
    2019-09-01 71 days 1,725 sqft
    2019-10-01 65 days 1,688 sqft
    2019-11-01 67 days 1,740 sqft
    2019-12-01 81 days 1,724 sqft
    2020-01-01 93 days 1,700 sqft
    2020-02-01 100 days 1,720 sqft
    2020-03-01 76 days 1,798 sqft
    2020-04-01 81 days 1,804 sqft
    2020-05-01 82 days 1,808 sqft
    2020-06-01 55 days 1,752 sqft
    2020-07-01 42 days 1,727 sqft
    2020-08-01 49 days 1,700 sqft
    2020-09-01 38 days 1,644 sqft
    2020-10-01 45 days 1,722 sqft
    2020-11-01 54 days 1,665 sqft
    2020-12-01 64 days 1,618 sqft
    2021-01-01 73 days 1,622 sqft
    2021-02-01 72 days 1,587 sqft
    2021-03-01 59 days 1,552 sqft
    2021-04-01 33 days 1,634 sqft
    2021-05-01 26 days 1,592 sqft
    2021-06-01 19 days 1,626 sqft
    2021-07-01 30 days 1,612 sqft
    2021-08-01 28 days 1,637 sqft
    2021-09-01 35 days 1,612 sqft
    2021-10-01 42 days 1,604 sqft
    2021-11-01 39 days 1,572 sqft
    2021-12-01 46 days 1,556 sqft
    2022-01-01 50 days 1,582 sqft
    2022-02-01 49 days 1,584 sqft
    2022-03-01 46 days 1,627 sqft
    2022-04-01 39 days 1,628 sqft
    2022-05-01 33 days 1,710 sqft
    2022-06-01 29 days 1,707 sqft
    Pottsville's median listing age (time on market) for 2022-06-01 was 29 days. This is 53% longer than the same period one year ago.

    Pottsville's median square footage for active listings during the 2022-06-01 period was 1,707 sqft. One year prior, the average listing was 1,626 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).