Selinsgrove FHA Loan Rates, Closing Costs & Stats

Selinsgrove, 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.

    Selinsgrove's 19 lenders originated 41 FHA loans during 2023. The total origination value was $8,465,000, with an average FHA loan value of $206,463.

    Selinsgrove FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Selinsgrove averaged 0.08% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Selinsgrove's average FHA mortgage closing costs are $7,710.

    The average rate for the prior week (2024-11-08) was 6.29% and one month ago for the week of 2024-10-11, the average rate was 6.09%.

    The average rate one year ago was 7.04%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.2%.

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

    Selinsgrove 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 Selinsgrove level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 15 6.55% $9,943
    Waterstone Mortgage Corporation 3 6.29% $10,204
    Fulton Bank 2 6.19% $7,269
    The Ephrata National Bank 2 6.75% $7,760
    First National Bank of Pennsylvania 1 7.50% $6,901
    Keystone Funding, Inc. 1 6.13% $12,853
    LIBERTY HOME MORTGAGE CORPORATION 1 7.38% $14,229
    LOANDEPOT.COM, LLC 1 6.99% $11,322
    Mortgage Research Center, LLC 1 7.63% $8,193
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.63% $12,698
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $14,045
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.88% $7,516
    Truist 1 6.75% $7,798
    UNITED WHOLESALE MORTGAGE, LLC 1 5.75% $8,288
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $31,719
    ZILLOW HOME LOANS, LLC 1 6.25% $10,540
    BROKER SOLUTIONS, INC. 1 6.13% $7,591
    Carrington Mortgage Services, LLC 1 6.38% $12,829
    EMM LOANS LLC 1 5.75% $14,166

    The top Selinsgrove FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 15 FHA loans originated. Their average total fees are $9,943, which is $261 lower than the next largest lender, Waterstone Mortgage Corporation.

    The lowest fee Selinsgrove FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($9,943), .

    The lowest rate Selinsgrove FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.55%), .

    Selinsgrove FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Selinsgrove (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 $197,704 (7.4%) $243,323 (10.1%) 0.00 105
    2018-02-01 $189,900 (2.7%) $242,887 (9.2%) 0.00 105
    2018-03-01 $189,900 (5.8%) $236,599 (10.4%) 0.00 105
    2018-04-01 $198,827 (11.1%) $237,357 (8.8%) 0.00 113
    2018-05-01 $201,425 (12.5%) $229,575 (4.1%) 0.00 114
    2018-06-01 $202,900 (6.9%) $229,326 (2.8%) 0.00 124
    2018-07-01 $207,400 (9.2%) $228,292 (3.7%) 0.00 132
    2018-08-01 $207,650 (9.4%) $229,315 (3.4%) 0.00 135
    2018-09-01 $202,900 (6.9%) $234,704 (4.2%) 0.00 128
    2018-10-01 $204,375 (9.0%) $238,905 (1.7%) 0.00 120
    2018-11-01 $193,654 (-2.3%) $229,349 (-6.7%) 0.00 118
    2018-12-01 $189,400 (-4.2%) $228,277 (-3.5%) 0.00 121
    2019-01-01 $183,950 (-7.0%) $209,795 (-13.8%) 0.00 112
    2019-02-01 $188,650 (-0.7%) $219,150 (-9.8%) 0.00 111
    2019-03-01 $199,477 (5.0%) $226,683 (-4.2%) 0.00 113
    2019-04-01 $210,925 (6.1%) $229,484 (-3.3%) 0.00 119
    2019-05-01 $214,900 (6.7%) $236,908 (3.2%) 0.00 123
    2019-06-01 $200,000 (-1.4%) $226,004 (-1.5%) 0.00 110
    2019-07-01 $199,425 (-3.9%) $223,348 (-2.2%) 0.00 110
    2019-08-01 $197,526 (-4.9%) $250,175 (9.1%) 0.00 111
    2019-09-01 $195,391 (-3.7%) $286,285 (22.0%) 0.00 102
    2019-10-01 $196,242 (-4.0%) $311,908 (30.6%) 0.00 97
    2019-11-01 $189,900 (-1.9%) $302,249 (31.8%) 0.00 100
    2019-12-01 $191,200 (1.0%) $296,983 (30.1%) 0.00 88
    2020-01-01 $196,200 (6.7%) $302,867 (44.4%) 0.00 82
    2020-02-01 $196,200 (4.0%) $308,140 (40.6%) 0.00 73
    2020-03-01 $194,600 (-2.4%) $301,343 (32.9%) 0.00 70
    2020-04-01 $191,050 (-9.4%) $254,849 (11.1%) 0.00 70
    2020-05-01 $198,000 (-7.9%) $263,426 (11.2%) 0.00 64
    2020-06-01 $202,700 (1.4%) $274,234 (21.3%) 0.00 61
    2020-07-01 $206,450 (3.5%) $282,205 (26.4%) 0.00 58
    2020-08-01 $219,900 (11.3%) $301,558 (20.5%) 0.00 48
    2020-09-01 $222,450 (13.9%) $297,709 (4.0%) 0.00 50
    2020-10-01 $219,900 (12.1%) $281,849 (-9.6%) 0.00 44
    2020-11-01 $219,900 (15.8%) $257,923 (-14.7%) 0.00 40
    2020-12-01 $232,150 (21.4%) $271,985 (-8.4%) 0.00 37
    2021-01-01 $209,000 (6.5%) $268,084 (-11.5%) 0.00 36
    2021-02-01 $182,000 (-7.2%) $248,278 (-19.4%) 0.00 32
    2021-03-01 $196,200 (0.8%) $250,185 (-17.0%) 0.00 31
    2021-04-01 $187,650 (-1.8%) $224,281 (-12.0%) 0.00 24
    2021-05-01 $179,900 (-9.1%) $221,762 (-15.8%) 0.00 24
    2021-06-01 $185,500 (-8.5%) $217,984 (-20.5%) 0.00 30
    2021-07-01 $231,400 (12.1%) $256,561 (-9.1%) 0.00 34
    2021-08-01 $225,000 (2.3%) $248,850 (-17.5%) 0.00 40
    2021-09-01 $207,450 (-6.7%) $241,670 (-18.8%) 0.00 45
    2021-10-01 $202,200 (-8.1%) $250,010 (-11.3%) 0.00 42
    2021-11-01 $204,500 (-7.0%) $265,267 (2.9%) 0.00 38
    2021-12-01 $208,375 (-10.2%) $243,491 (-10.5%) 0.00 28
    2022-01-01 $199,950 (-4.3%) $218,489 (-18.5%) 0.00 20
    2022-02-01 $206,225 (13.3%) $244,199 (-1.6%) 0.00 19
    2022-03-01 $199,000 (1.4%) $234,091 (-6.4%) 0.00 20
    2022-04-01 $219,900 (17.2%) $273,713 (22.0%) 0.00 24
    2022-05-01 $249,900 (38.9%) $291,179 (31.3%) 0.00 35
    2022-06-01 $250,970 (35.3%) $286,022 (31.2%) 0.00 38
    2022-07-01 $252,500 (9.1%) $299,041 (16.6%) 0.00 36
    2022-08-01 $252,450 (12.2%) $296,480 (19.1%) 0.00 42
    2022-09-01 $267,450 (28.9%) $290,370 (20.2%) 0.00 43
    2022-10-01 $277,450 (37.2%) $286,039 (14.4%) 0.00 46
    2022-11-01 $244,900 (19.8%) $269,203 (1.5%) 0.00 47
    2022-12-01 $224,950 (8.0%) $245,165 (0.7%) 0.00 43
    2023-01-01 $244,950 (22.5%) $273,143 (25.0%) 0.00 37
    2023-02-01 $244,450 (18.5%) $256,341 (5.0%) 0.00 37
    2023-03-01 $243,474 (22.4%) $263,787 (12.7%) 0.00 31
    2023-04-01 $239,900 (9.1%) $257,737 (-5.8%) 0.00 21
    2023-05-01 $254,999 (2.0%) $250,135 (-14.1%) 0.00 17
    2023-06-01 $252,225 (0.5%) $261,847 (-8.5%) 0.00 19
    2023-07-01 $244,000 (-3.4%) $270,328 (-9.6%) 0.00 22
    2023-08-01 $269,499 (6.8%) $288,485 (-2.7%) 0.00 20
    2023-09-01 $242,750 (-9.2%) $280,465 (-3.4%) 0.00 24
    2023-10-01 $235,625 (-15.1%) $266,029 (-7.0%) 0.00 26
    2023-11-01 $240,750 (-1.7%) $263,446 (-2.1%) 0.00 26
    2023-12-01 $220,000 (-2.2%) $254,178 (3.7%) 0.00 24
    2024-01-01 $218,750 (-10.7%) $250,571 (-8.3%) 0.00 24
    2024-02-01 $250,325 (2.4%) $274,166 (7.0%) 0.00 24
    2024-03-01 $244,450 (0.4%) $277,179 (5.1%) 0.00 28
    2024-04-01 $287,450 (19.8%) $296,551 (15.1%) 0.00 30
    2024-05-01 $295,950 (16.1%) $302,520 (20.9%) 0.00 34
    2024-06-01 $319,900 (26.8%) $310,336 (18.5%) 0.00 43
    2024-07-01 $319,225 (30.8%) $300,713 (11.2%) 0.00 45
    2024-08-01 $319,450 (18.5%) $312,518 (8.3%) 0.00 43
    2024-09-01 $332,225 (36.9%) $330,304 (17.8%) 0.00 44
    2024-10-01 $332,450 (41.1%) $331,194 (24.5%) 0.00 47
    Selinsgrove's median listing price for 2024-10-01 was $332,450, a difference of $96,825 (41.1%) versus the prior year and $225 versus the prior month.

    Selinsgrove's median listing price comes in at 0% of the national average.

    Selinsgrove's average listing price for 2024-10-01 was $331,194, a difference of $65,165 (24.5%) versus the prior year and $890 versus the prior month.

    For the 2024-10-01 period, Selinsgrove had 47 MLS listings, a difference of 3 listings (7%) versus the prior month and 21 listings (81%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Selinsgrove (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,854 sqft
    2018-02-01 0 days 1,824 sqft
    2018-03-01 0 days 1,816 sqft
    2018-04-01 0 days 1,803 sqft
    2018-05-01 0 days 1,815 sqft
    2018-06-01 0 days 1,768 sqft
    2018-07-01 0 days 1,765 sqft
    2018-08-01 0 days 1,763 sqft
    2018-09-01 0 days 1,747 sqft
    2018-10-01 0 days 1,719 sqft
    2018-11-01 0 days 1,682 sqft
    2018-12-01 0 days 1,615 sqft
    2019-01-01 0 days 1,600 sqft
    2019-02-01 0 days 1,673 sqft
    2019-03-01 0 days 1,729 sqft
    2019-04-01 0 days 1,729 sqft
    2019-05-01 0 days 1,668 sqft
    2019-06-01 0 days 1,664 sqft
    2019-07-01 0 days 1,730 sqft
    2019-08-01 0 days 1,776 sqft
    2019-09-01 0 days 1,836 sqft
    2019-10-01 0 days 1,875 sqft
    2019-11-01 0 days 1,746 sqft
    2019-12-01 0 days 1,730 sqft
    2020-01-01 0 days 1,706 sqft
    2020-02-01 0 days 1,736 sqft
    2020-03-01 0 days 1,674 sqft
    2020-04-01 0 days 1,639 sqft
    2020-05-01 0 days 1,748 sqft
    2020-06-01 0 days 1,870 sqft
    2020-07-01 0 days 1,805 sqft
    2020-08-01 0 days 1,898 sqft
    2020-09-01 0 days 1,972 sqft
    2020-10-01 0 days 1,920 sqft
    2020-11-01 0 days 1,836 sqft
    2020-12-01 0 days 1,848 sqft
    2021-01-01 0 days 1,848 sqft
    2021-02-01 0 days 1,799 sqft
    2021-03-01 0 days 1,775 sqft
    2021-04-01 0 days 1,549 sqft
    2021-05-01 0 days 1,549 sqft
    2021-06-01 0 days 1,746 sqft
    2021-07-01 0 days 1,891 sqft
    2021-08-01 0 days 1,779 sqft
    2021-09-01 0 days 1,752 sqft
    2021-10-01 0 days 1,757 sqft
    2021-11-01 0 days 1,872 sqft
    2021-12-01 0 days 1,894 sqft
    2022-01-01 0 days 1,659 sqft
    2022-02-01 0 days 1,559 sqft
    2022-03-01 0 days 1,612 sqft
    2022-04-01 0 days 1,738 sqft
    2022-05-01 0 days 1,750 sqft
    2022-06-01 0 days 1,732 sqft
    2022-07-01 0 days 1,904 sqft
    2022-08-01 0 days 1,908 sqft
    2022-09-01 0 days 1,892 sqft
    2022-10-01 0 days 1,800 sqft
    2022-11-01 0 days 1,618 sqft
    2022-12-01 0 days 1,564 sqft
    2023-01-01 0 days 1,617 sqft
    2023-02-01 0 days 1,591 sqft
    2023-03-01 0 days 1,622 sqft
    2023-04-01 0 days 1,628 sqft
    2023-05-01 0 days 1,825 sqft
    2023-06-01 0 days 1,904 sqft
    2023-07-01 0 days 1,904 sqft
    2023-08-01 0 days 1,879 sqft
    2023-09-01 0 days 1,904 sqft
    2023-10-01 0 days 1,822 sqft
    2023-11-01 0 days 1,788 sqft
    2023-12-01 0 days 1,838 sqft
    2024-01-01 0 days 1,801 sqft
    2024-02-01 0 days 1,801 sqft
    2024-03-01 0 days 1,538 sqft
    2024-04-01 0 days 1,549 sqft
    2024-05-01 0 days 1,620 sqft
    2024-06-01 0 days 1,559 sqft
    2024-07-01 0 days 1,559 sqft
    2024-08-01 0 days 1,559 sqft
    2024-09-01 0 days 1,572 sqft
    2024-10-01 0 days 1,568 sqft
    Selinsgrove's median listing age (time on market) for 2024-10-01 was 0 days.

    Selinsgrove's median square footage for active listings during the 2024-10-01 period was 1,568 sqft. One year prior, the average listing was 1,822 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).