Warren FHA Loan Rates, Closing Costs & Stats

Warren, 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.

    Warren's 18 lenders originated 66 FHA loans during 2023. The total origination value was $8,100,000, with an average FHA loan value of $122,727.

    Warren FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Warren averaged 6.76% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Warren's average FHA mortgage closing costs are $6,173.

    The average rate for the prior week (2024-04-12) was 6.65% and one month ago for the week of 2024-03-15, the average rate was 6.82%.

    The average rate one year ago was 6.44%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Warren 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 Warren level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 24 6.58% $7,271
    TIDEWATER MORTGAGE SERVICES, INC. 5 7.30% $8,029
    MOVEMENT MORTGAGE, LLC 4 7.28% $6,998
    UNITED WHOLESALE MORTGAGE, LLC 3 6.28% $10,588
    Carrington Mortgage Services, LLC 3 6.46% $6,933
    LOANDEPOT.COM, LLC 3 6.67% $8,475
    Northwest Bank 3 6.42% $6,554
    FIRST HERITAGE FINANCIAL, LLC 2 6.87% $9,851
    EQUITY RESOURCES, INC. 2 6.87% $8,911
    AMERISAVE MORTGAGE CORPORATION 1 6.00% $9,062
    Citizens Bank 1 6.25% $4,557
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $7,071
    NBH Bank 1 6.12% $2,628
    ACADEMY MORTGAGE CORPORATION 1 6.88% $9,086
    BROKER SOLUTIONS, INC. 1 7.13% $7,202
    ROYAL UNITED MORTGAGE LLC 1 6.50% $7,699
    Equity Prime Mortgage LLC 1 7.75% $9,412
    HOWARD HANNA FINANCIAL SERVICES, INC. 1 6.38% $4,807

    The top Warren FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 24 FHA loans originated. Their average total fees are $7,271, which is $758 lower than the next largest lender, TIDEWATER MORTGAGE SERVICES, INC..

    The lowest fee Warren FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($7,271), .

    The lowest rate Warren FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.58%), .

    Warren FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Warren (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 $64,975 (-5.8%) $157,359 (57.4%) 0.00 214
    2018-02-01 $63,925 (-7.4%) $126,011 (28.6%) 0.00 213
    2018-03-01 $67,450 (-2.4%) $126,473 (21.7%) 0.00 217
    2018-04-01 $67,925 (4.7%) $129,660 (26.3%) 0.00 211
    2018-05-01 $67,725 (-0.8%) $128,248 (12.7%) 0.00 211
    2018-06-01 $74,900 (7.5%) $140,100 (22.4%) 0.00 207
    2018-07-01 $105,175 (33.1%) $172,886 (46.6%) 0.00 150
    2018-08-01 $104,675 (38.7%) $166,748 (-1.0%) 0.00 169
    2018-09-01 $99,900 (33.2%) $158,889 (-3.5%) 0.00 175
    2018-10-01 $93,575 (29.5%) $159,535 (-0.7%) 0.00 181
    2018-11-01 $95,950 (37.3%) $158,723 (2.0%) 0.00 181
    2018-12-01 $97,500 (40.9%) $162,302 (6.6%) 0.00 169
    2019-01-01 $90,850 (39.8%) $148,732 (-5.5%) 0.00 155
    2019-02-01 $91,175 (42.6%) $153,092 (21.5%) 0.00 148
    2019-03-01 $78,986 (17.1%) $140,163 (10.8%) 0.00 170
    2019-04-01 $63,150 (-7.0%) $122,802 (-5.3%) 0.00 203
    2019-05-01 $61,950 (-8.5%) $117,488 (-8.4%) 0.00 201
    2019-06-01 $65,000 (-13.2%) $120,645 (-13.9%) 0.00 204
    2019-07-01 $65,000 (-38.2%) $120,656 (-30.2%) 0.00 204
    2019-08-01 $63,609 (-39.2%) $115,831 (-30.5%) 0.00 206
    2019-09-01 $61,523 (-38.4%) $106,249 (-33.1%) 0.00 210
    2019-10-01 $62,682 (-33.0%) $100,910 (-36.8%) 0.00 215
    2019-11-01 $69,900 (-27.2%) $104,826 (-34.0%) 0.00 205
    2019-12-01 $64,675 (-33.7%) $104,701 (-35.5%) 0.00 191
    2020-01-01 $66,975 (-26.3%) $106,272 (-28.6%) 0.00 178
    2020-02-01 $63,900 (-29.9%) $104,276 (-31.9%) 0.00 161
    2020-03-01 $63,100 (-20.1%) $105,483 (-24.7%) 0.00 159
    2020-04-01 $65,925 (4.4%) $109,276 (-11.0%) 0.00 155
    2020-05-01 $65,000 (4.9%) $113,077 (-3.8%) 0.00 151
    2020-06-01 $57,400 (-11.7%) $110,290 (-8.6%) 0.00 138
    2020-07-01 $54,225 (-16.6%) $111,902 (-7.3%) 0.00 139
    2020-08-01 $53,000 (-16.7%) $118,585 (2.4%) 0.00 129
    2020-09-01 $50,425 (-18.0%) $115,588 (8.8%) 0.00 119
    2020-10-01 $55,500 (-11.5%) $121,558 (20.5%) 0.00 106
    2020-11-01 $50,750 (-27.4%) $114,686 (9.4%) 0.00 103
    2020-12-01 $50,500 (-21.9%) $116,164 (11.0%) 0.00 101
    2021-01-01 $52,000 (-22.4%) $107,055 (0.7%) 0.00 93
    2021-02-01 $54,175 (-15.2%) $106,427 (2.1%) 0.00 96
    2021-03-01 $44,425 (-29.6%) $112,958 (7.1%) 0.00 89
    2021-04-01 $41,000 (-37.8%) $108,275 (-0.9%) 0.00 88
    2021-05-01 $46,000 (-29.2%) $112,062 (-0.9%) 0.00 87
    2021-06-01 $46,225 (-19.5%) $109,001 (-1.2%) 0.00 86
    2021-07-01 $108,450 (100.0%) $164,234 (46.8%) 0.00 56
    2021-08-01 $114,900 (116.8%) $175,148 (47.7%) 0.00 51
    2021-09-01 $126,825 (151.5%) $165,980 (43.6%) 0.00 52
    2021-10-01 $126,500 (127.9%) $164,086 (35.0%) 0.00 48
    2021-11-01 $123,975 (144.3%) $156,730 (36.7%) 0.00 49
    2021-12-01 $127,450 (152.4%) $179,387 (54.4%) 0.00 47
    2022-01-01 $129,500 (149.0%) $194,789 (82.0%) 0.00 30
    2022-02-01 $123,400 (127.8%) $175,614 (65.0%) 0.00 20
    2022-03-01 $129,925 (192.5%) $183,316 (62.3%) 0.00 27
    2022-04-01 $143,500 (250.0%) $212,770 (96.5%) 0.00 22
    2022-05-01 $135,000 (193.5%) $235,572 (110.2%) 0.00 28
    2022-06-01 $167,450 (262.3%) $225,930 (107.3%) 0.00 40
    2022-07-01 $180,000 (66.0%) $228,981 (39.4%) 0.00 49
    2022-08-01 $174,950 (52.3%) $213,128 (21.7%) 0.00 59
    2022-09-01 $157,475 (24.2%) $198,012 (19.3%) 0.00 58
    2022-10-01 $150,000 (18.6%) $206,382 (25.8%) 0.00 61
    2022-11-01 $132,250 (6.7%) $192,474 (22.8%) 0.00 58
    2022-12-01 $137,500 (7.9%) $192,885 (7.5%) 0.00 53
    2023-01-01 $140,075 (8.2%) $179,289 (-8.0%) 0.00 49
    2023-02-01 $142,300 (15.3%) $163,276 (-7.0%) 0.00 49
    2023-03-01 $129,675 (-0.2%) $155,921 (-14.9%) 0.00 49
    2023-04-01 $139,900 (-2.5%) $174,962 (-17.8%) 0.00 42
    2023-05-01 $114,400 (-15.3%) $181,245 (-23.1%) 0.00 37
    2023-06-01 $130,550 (-22.0%) $202,983 (-10.2%) 0.00 43
    2023-07-01 $162,450 (-9.8%) $251,423 (9.8%) 0.00 53
    2023-08-01 $144,900 (-17.2%) $240,731 (13.0%) 0.00 52
    2023-09-01 $146,824 (-6.8%) $236,490 (19.4%) 0.00 56
    2023-10-01 $146,824 (-2.1%) $229,014 (11.0%) 0.00 53
    2023-11-01 $188,500 (42.5%) $247,017 (28.3%) 0.00 57
    2023-12-01 $188,000 (36.7%) $245,409 (27.2%) 0.00 51
    2024-01-01 $177,450 (26.7%) $250,830 (39.9%) 0.00 49
    2024-02-01 $165,000 (16.0%) $221,179 (35.5%) 0.00 51
    2024-03-01 $175,000 (35.0%) $228,932 (46.8%) 0.00 48
    Warren's median listing price for 2024-03-01 was $175,000, a difference of $45,325 (35.0%) versus the prior year and $10,000 versus the prior month.

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

    Warren's average listing price for 2024-03-01 was $228,932, a difference of $73,011 (46.8%) versus the prior year and $7,753 versus the prior month.

    For the 2024-03-01 period, Warren had 48 MLS listings, a difference of -3 listings (-6%) versus the prior month and -1 listings (-2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Warren (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,632 sqft
    2018-02-01 0 days 1,628 sqft
    2018-03-01 0 days 1,602 sqft
    2018-04-01 0 days 1,590 sqft
    2018-05-01 0 days 1,580 sqft
    2018-06-01 0 days 1,600 sqft
    2018-07-01 0 days 1,621 sqft
    2018-08-01 0 days 1,584 sqft
    2018-09-01 0 days 1,557 sqft
    2018-10-01 0 days 1,545 sqft
    2018-11-01 0 days 1,569 sqft
    2018-12-01 0 days 1,587 sqft
    2019-01-01 0 days 1,570 sqft
    2019-02-01 0 days 1,567 sqft
    2019-03-01 0 days 1,568 sqft
    2019-04-01 0 days 1,591 sqft
    2019-05-01 0 days 1,592 sqft
    2019-06-01 0 days 1,569 sqft
    2019-07-01 0 days 1,567 sqft
    2019-08-01 0 days 1,552 sqft
    2019-09-01 0 days 1,538 sqft
    2019-10-01 0 days 1,529 sqft
    2019-11-01 0 days 1,520 sqft
    2019-12-01 0 days 1,524 sqft
    2020-01-01 0 days 1,620 sqft
    2020-02-01 0 days 1,632 sqft
    2020-03-01 0 days 1,636 sqft
    2020-04-01 0 days 1,654 sqft
    2020-05-01 0 days 1,727 sqft
    2020-06-01 0 days 1,697 sqft
    2020-07-01 0 days 1,645 sqft
    2020-08-01 0 days 1,648 sqft
    2020-09-01 0 days 1,552 sqft
    2020-10-01 0 days 1,584 sqft
    2020-11-01 0 days 1,597 sqft
    2020-12-01 0 days 1,532 sqft
    2021-01-01 0 days 1,644 sqft
    2021-02-01 0 days 1,716 sqft
    2021-03-01 0 days 1,705 sqft
    2021-04-01 0 days 1,640 sqft
    2021-05-01 0 days 1,677 sqft
    2021-06-01 0 days 1,615 sqft
    2021-07-01 0 days 1,564 sqft
    2021-08-01 0 days 1,635 sqft
    2021-09-01 0 days 1,486 sqft
    2021-10-01 0 days 1,515 sqft
    2021-11-01 0 days 1,485 sqft
    2021-12-01 0 days 1,482 sqft
    2022-01-01 0 days 1,541 sqft
    2022-02-01 0 days 1,658 sqft
    2022-03-01 0 days 1,848 sqft
    2022-04-01 0 days 2,016 sqft
    2022-05-01 0 days 1,829 sqft
    2022-06-01 0 days 1,721 sqft
    2022-07-01 0 days 1,900 sqft
    2022-08-01 0 days 1,752 sqft
    2022-09-01 0 days 1,814 sqft
    2022-10-01 0 days 1,645 sqft
    2022-11-01 0 days 1,677 sqft
    2022-12-01 0 days 1,666 sqft
    2023-01-01 0 days 1,641 sqft
    2023-02-01 0 days 1,658 sqft
    2023-03-01 0 days 1,639 sqft
    2023-04-01 0 days 1,657 sqft
    2023-05-01 0 days 1,647 sqft
    2023-06-01 0 days 1,642 sqft
    2023-07-01 0 days 1,744 sqft
    2023-08-01 0 days 1,722 sqft
    2023-09-01 0 days 1,650 sqft
    2023-10-01 0 days 1,682 sqft
    2023-11-01 0 days 1,647 sqft
    2023-12-01 0 days 1,770 sqft
    2024-01-01 0 days 1,787 sqft
    2024-02-01 0 days 1,745 sqft
    2024-03-01 0 days 1,786 sqft
    Warren's median listing age (time on market) for 2024-03-01 was 0 days.

    Warren's median square footage for active listings during the 2024-03-01 period was 1,786 sqft. One year prior, the average listing was 1,639 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).