York FHA Loans

YORK-HANOVER, 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.

    York's 159 lenders originated 2,687 FHA loans during 2021. The total origination value was $524,055,000, with an average FHA loan value of $195,033.

    York FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in York averaged 5.11% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

    The average rate for the prior week (2022-05-06) was 5.44% and one month ago for the week of 2022-04-08, the average rate was 5.1%.

    The average rate one year ago was 3.01%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.19%.

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

    York 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 York level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 240 2.81% $6,419
    MCLEAN MORTGAGE CORPORATION 141 2.96% $7,739
    MOVEMENT MORTGAGE, LLC 128 3.10% $7,724
    CROSSCOUNTRY MORTGAGE, LLC 120 3.15% $8,318
    York Traditions Bank 103 3.10% $7,535
    LAKEVIEW LOAN SERVICING, LLC 89 3.16% $5,546
    RESIDENTIAL MORTGAGE SERVICES, INC. 78 3.08% $8,309
    FREEDOM MORTGAGE CORPORATION 73 2.94% $5,706
    PENNYMAC LOAN SERVICES, LLC 73 2.98% $5,025
    Mr. Cooper ( Nationstar Mortgage ) 68 3.29% $4,155
    Manufacturers and Traders Trust Company 55 2.79% $6,745
    CALIBER HOME LOANS, INC. 54 2.93% $7,219
    NFM, INC. 51 3.27% $6,853
    Mortgage Network, Inc. 46 3.25% $8,716
    Sierra Pacific Mortgage Company, Inc. 40 3.01% $7,225
    HOMEBRIDGE FINANCIAL SERVICES, INC. 39 3.25% $9,064
    LOANDEPOT.COM, LLC 36 3.28% $9,317
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 32 3.17% $7,808
    MEMBERS 1ST FEDERAL CREDIT UNION 32 2.82% $6,901
    Homesale Mortgage, LLC 32 2.88% $7,255
    Northpointe Bank 30 3.03% $7,478
    FIRST ALLIANCE HOME MORTGAGE, LLC 29 3.11% $8,254
    UNION HOME MORTGAGE CORP. 29 3.11% $8,082
    Fulton Bank 28 2.97% $6,988
    NEWREZ LLC 24 3.02% $5,103
    BROKER SOLUTIONS, INC. 24 3.07% $8,449
    HOME POINT FINANCIAL CORPORATION 24 2.67% $7,107
    PRIMARY RESIDENTIAL MORTGAGE, INC. 23 3.48% $10,200
    AmeriHome Mortgage Company, LLC 21 2.99% $4,858
    Carrington Mortgage Services, LLC 21 3.45% $8,385
    Citizens Bank 20 2.98% $7,679
    GUILD MORTGAGE COMPANY 19 3.31% $8,284
    UNITED WHOLESALE MORTGAGE, LLC 18 2.71% $9,180
    GUARANTEED RATE, INC. 18 3.04% $8,340
    PRIMELENDING, A PLAINSCAPITAL COMPANY 17 3.34% $8,253
    Towne Bank 15 2.73% $8,354
    George Mason Mortgage, LLC 15 3.12% $9,024
    AMERISAVE MORTGAGE CORPORATION 14 3.09% $9,234
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 14 3.30% $10,330
    Paramount Residential Mortgage Group, Inc. 13 3.41% $9,226
    Meridian Bank Corporation 13 2.79% $8,383
    CMG MORTGAGE, INC. 13 3.34% $8,223
    EMM LOANS LLC 12 2.85% $7,996
    Lakeview Community Capital, LLC 12 3.18% $5,526
    VILLAGE CAPITAL & INVESTMENT LLC 12 2.97% $3,327
    SOUTHERN TRUST MORTGAGE, LLC 12 3.10% $8,444
    MDE Home Loans, LLC 11 3.07% $14,059
    NVR Mortgage Finance, Inc. 10 3.11% $11,243
    TIDEWATER MORTGAGE SERVICES, INC. 10 3.03% $9,264
    FIRST HOME MORTGAGE CORPORATION 10 3.19% $8,548
    ALLIED MORTGAGE GROUP, INC. 9 3.32% $9,744
    HOWARD HANNA FINANCIAL SERVICES, INC. 9 3.21% $7,302
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 9 2.90% $8,721
    DHI MORTGAGE COMPANY, LTD. 8 2.86% $9,340
    GUARANTEED RATE AFFINITY, LLC 8 2.91% $8,081
    Alcova Mortgage LLC 7 3.21% $6,633
    1ST PREFERENCE MORTGAGE CORP. 7 3.30% $9,229
    AMERICAN FINANCIAL NETWORK, INC. 7 3.27% $12,709
    PLAZA HOME MORTGAGE, INC. 7 3.04% $9,414
    EQUITY RESOURCES, INC. 6 3.08% $7,642
    First Guaranty Mortgage Corporation 6 2.73% $6,200
    MEMBER FIRST MORTGAGE, LLC 6 3.19% $6,587
    PLANET HOME LENDING, LLC 6 3.10% $4,460
    BAY CAPITAL MORTGAGE CORPORATION 6 2.77% $10,150
    PNC Bank 6 2.96% $7,013
    Prosperity Home Mortgage, LLC 6 3.23% $9,133
    Plains Commerce Bank 5 3.05% $9,772
    HOMESPIRE MORTGAGE CORPORATION 5 3.43% $8,641
    Integrity Home Mortgage Corp 5 2.88% $10,176
    NATIONWIDE MORTGAGE BANKERS, INC. 4 3.41% $11,086
    Mid Penn Bank 4 2.91% $12,477
    Nations Lending Corporation 4 3.09% $9,797
    AMERICAN FINANCING CORPORATION 4 2.59% $7,813
    First Option Mortgage, LLC 4 3.28% $11,193
    SUN WEST MORTGAGE COMPANY, INC. 4 3.12% $9,146
    FINANCE OF AMERICA MORTGAGE LLC 4 3.34% $8,696
    CONTOUR MORTGAGE CORPORATION 4 3.28% $8,094
    HOMESIDE FINANCIAL, LLC 4 2.88% $7,945
    NATIONS DIRECT MORTGAGE, LLC 4 2.94% $9,078
    OCEANSIDE MORTGAGE COMPANY 3 2.42% $2,554
    FIRST HERITAGE FINANCIAL, LLC 3 2.96% $6,137
    Bank of England 3 3.46% $8,657
    ACADEMY MORTGAGE CORPORATION 3 3.33% $6,848
    Truist Bank 3 3.08% $9,019
    HOMESTEAD FUNDING CORP. 3 3.25% $5,495
    InterContinental Capital Group, Inc 3 3.50% $12,846
    SWBC MORTGAGE CORPORATION 3 3.17% $6,572
    LIBERTY HOME MORTGAGE CORPORATION 3 3.00% $11,739
    Equity Prime Mortgage LLC 3 3.83% $11,215
    EMBRACE HOME LOANS, INC. 3 3.08% $10,461
    Residential Mortgage Solutions, Inc. 3 3.04% $10,964
    Orrstown Bank 3 2.92% $8,989
    SEVERN SAVINGS BANK, FSB DBA SEVERN BANK 2 2.69% $8,371
    LOANLEADERS OF AMERICA, INC. 2 3.19% $11,865
    MILEND, INC. 2 2.63% $8,340
    MLD MORTGAGE INC. 2 2.44% $7,889
    T2 FINANCIAL LLC 2 3.69% $9,969
    Flanagan State Bank 2 3.44% $6,530
    Mortgage Research Center, LLC 2 2.93% $5,328
    TJC Mortgage, Inc. 2 3.44% $9,398
    Keystone Funding, Inc. 2 2.75% $9,958
    KELLER MORTGAGE, LLC 2 3.19% $6,641
    EVERETT FINANCIAL, INC. 2 3.69% $5,662
    NATION ONE MORTGAGE CORPORATION 2 3.25% $10,612
    Ameris Bank 2 2.50% $8,755
    Austin Capital Bank SSB 2 2.81% $8,680
    First Home Bank 2 3.25% $8,989
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 2.69% $6,313
    APEX HOME LOANS, INC. 2 3.00% $11,518
    First National Bank of Pennsylvania 2 2.69% $6,512
    Santander Bank, N.A. 2 2.75% $6,348
    SECURITYNATIONAL MORTGAGE COMPANY 2 4.50% $11,276
    ZILLOW HOME LOANS, LLC 1 2.50% $7,825
    ABSOLUTE HOME MORTGAGE CORPORATION 1 3.50% $8,995
    Acre Mortgage and Financial Inc 1 4.00% $9,351
    AmRes Corporation 1 3.00% $6,680
    Barrington Bank & Trust Company, N.A. 1 2.75% $10,494
    BELCO COMMUNITY CREDIT UNION 1 2.63% $6,987
    CBM Mortgage, Inc. 1 2.50% $8,321
    Citibank 1 3.25% $7,692
    Colonial Savings, F.A. 1 3.38% $9,352
    DEVELOPER'S MORTGAGE COMPANY 1 3.13% $8,307
    DIRECT MORTGAGE LOANS, LLC 1 3.50% $7,016
    EAGLE HOME MORTGAGE, LLC 1 3.13% $13,009
    FAMILY FIRST FUNDING LLC 1 3.75% $7,974
    FIDELITY DIRECT MORTGAGE, LLC 1 3.25% $9,272
    Florida Capital Bank 1 3.00% $8,751
    Foote Capital Mortgage Company 1 2.38% $5,476
    Gateway First Bank 1 3.13% $5,997
    GENEVA FINANCIAL, LLC 1 3.75% $12,082
    GSF Mortgage Corporation 1 3.75% $8,318
    Huntingdon Valley Bank 1 3.63% $4,424
    JPMorgan Chase Bank 1 3.25% $2,526
    LEADERONE FINANCIAL CORPORATION 1 3.13% $10,507
    LENDUS, LLC 1 3.00% $5,444
    Magnolia Bank 1 2.75% $12,453
    MEMBER ADVANTAGE MORTGAGE, LLC 1 3.38% $6,711
    MICHIGAN MUTUAL, INC. 1 2.38% $11,887
    Mortgage America, Inc. 1 3.00% $7,024
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.13% $10,189
    MUTUAL OF OMAHA MORTGAGE, INC. 1 3.25% $8,058
    Northwest Bank 1 2.38% $9,961
    PANORAMA MORTGAGE GROUP, LLC 1 3.50% $8,349
    RELIANCE FIRST CAPITAL, LLC 1 3.38% $5,821
    RESIDENTIAL HOME FUNDING CORP. 1 2.63% $9,948
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $9,846
    Sandy Spring Bank 1 2.50% $6,414
    Servion, Inc. 1 2.75% $7,999
    SOVEREIGN LENDING GROUP INCORPORATED 1 2.38% $9,504
    STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED 1 3.00% $4,732
    Strong Home Mortgage, LLC 1 2.50% $7,927
    The Federal Savings Bank 1 2.25% $12,587
    TOP FLITE FINANCIAL, INC. 1 3.00% $12,930
    UNITED MORTGAGE CORP. 1 3.13% $8,214
    UNITED SECURITY FINANCIAL CORP 1 3.88% $8,864
    VAN DYK MORTGAGE CORPORATION 1 2.75% $6,412
    Waterstone Mortgage Corporation 1 3.50% $9,760
    Wyndham Capital Mortgage, Inc. 1 2.75% $6,514
    1ST FINANCIAL, INC. 1 2.88% $11,969

    The top York FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 240 FHA loans originated. Their average total fees are $6,419, which is $1,320 lower than the next largest lender, MCLEAN MORTGAGE CORPORATION.

    The lowest fee York FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($3,327), Mr. Cooper ( Nationstar Mortgage ) ($4,155), AmeriHome Mortgage Company, LLC ($4,858), PENNYMAC LOAN SERVICES, LLC ($5,025) and NEWREZ LLC ($5,103).

    The lowest rate York FHA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (2.67%), UNITED WHOLESALE MORTGAGE, LLC (2.71%), Towne Bank (2.73%), Meridian Bank Corporation (2.79%) and Manufacturers and Traders Trust Company (2.79%).

    York FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - York (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 $209,450 (10.3%) $235,120 (5.4%) 0.77 1,538
    2018-02-01 $214,500 (13.2%) $240,660 (8.0%) 0.77 1,431
    2018-03-01 $209,999 (7.7%) $242,934 (6.3%) 0.73 1,420
    2018-04-01 $219,450 (9.7%) $244,381 (3.4%) 0.74 1,480
    2018-05-01 $224,950 (4.6%) $250,487 (4.7%) 0.75 1,518
    2018-06-01 $225,000 (6.3%) $252,732 (5.4%) 0.75 1,600
    2018-07-01 $225,570 (5.0%) $253,419 (4.4%) 0.75 1,595
    2018-08-01 $224,879 (4.6%) $252,106 (4.6%) 0.75 1,625
    2018-09-01 $219,900 (7.3%) $247,891 (3.8%) 0.74 1,592
    2018-10-01 $218,750 (4.2%) $245,914 (1.7%) 0.73 1,653
    2018-11-01 $215,950 (8.0%) $244,656 (4.7%) 0.72 1,662
    2018-12-01 $217,400 (8.8%) $242,805 (4.9%) 0.74 1,588
    2019-01-01 $218,185 (4.2%) $240,943 (2.5%) 0.75 1,406
    2019-02-01 $219,900 (2.5%) $243,285 (1.1%) 0.74 1,292
    2019-03-01 $219,900 (4.7%) $247,105 (1.7%) 0.72 1,278
    2019-04-01 $219,900 (0.2%) $252,467 (3.3%) 0.69 1,281
    2019-05-01 $227,000 (0.9%) $258,506 (3.2%) 0.70 1,319
    2019-06-01 $229,900 (2.2%) $262,973 (4.1%) 0.71 1,395
    2019-07-01 $237,450 (5.3%) $267,038 (5.4%) 0.74 1,416
    2019-08-01 $239,900 (6.7%) $274,205 (8.8%) 0.76 1,353
    2019-09-01 $239,900 (9.1%) $281,170 (13.4%) 0.76 1,259
    2019-10-01 $234,725 (7.3%) $276,718 (12.5%) 0.75 1,258
    2019-11-01 $229,900 (6.5%) $272,091 (11.2%) 0.74 1,179
    2019-12-01 $234,450 (7.8%) $272,424 (12.2%) 0.78 1,065
    2020-01-01 $238,070 (9.1%) $273,884 (13.7%) 0.79 976
    2020-02-01 $249,000 (13.2%) $282,713 (16.2%) 0.80 900
    2020-03-01 $259,750 (18.1%) $293,260 (18.7%) 0.81 893
    2020-04-01 $269,400 (22.5%) $301,124 (19.3%) 0.84 844
    2020-05-01 $265,000 (16.7%) $302,858 (17.2%) 0.80 901
    2020-06-01 $257,013 (11.8%) $296,320 (12.7%) 0.75 831
    2020-07-01 $260,608 (9.8%) $308,824 (15.7%) 0.75 733
    2020-08-01 $272,000 (13.4%) $312,936 (14.1%) 0.78 667
    2020-09-01 $265,400 (10.6%) $310,080 (10.3%) 0.76 629
    2020-10-01 $260,000 (10.8%) $303,320 (9.6%) 0.74 624
    2020-11-01 $264,950 (15.3%) $311,890 (14.6%) 0.76 586
    2020-12-01 $262,945 (12.2%) $314,603 (15.5%) 0.77 523
    2021-01-01 $264,990 (11.3%) $316,650 (15.6%) 0.78 442
    2021-02-01 $272,495 (9.4%) $320,557 (13.4%) 0.78 401
    2021-03-01 $277,950 (7.0%) $310,428 (5.9%) 0.78 405
    2021-04-01 $281,753 (4.6%) $309,426 (2.8%) 0.76 414
    2021-05-01 $281,990 (6.4%) $305,322 (0.8%) 0.74 459
    2021-06-01 $264,950 (3.1%) $294,610 (-0.6%) 0.69 571
    2021-07-01 $274,215 (5.2%) $299,299 (-3.1%) 0.71 608
    2021-08-01 $264,900 (-2.6%) $298,707 (-4.6%) 0.70 639
    2021-09-01 $267,400 (0.8%) $304,416 (-1.8%) 0.70 625
    2021-10-01 $269,900 (3.8%) $305,880 (0.8%) 0.71 578
    2021-11-01 $266,889 (0.7%) $306,361 (-1.8%) 0.70 548
    2021-12-01 $284,750 (8.3%) $324,182 (3.0%) 0.76 477
    2022-01-01 $309,900 (17.0%) $342,578 (8.2%) 0.83 413
    2022-02-01 $319,950 (17.4%) $346,214 (8.0%) 0.82 419
    2022-03-01 $329,950 (18.7%) $352,178 (13.5%) 0.81 443
    2022-04-01 $326,990 (16.1%) $351,908 (13.7%) 0.77 459
    York's median listing price for 2022-04-01 was $326,990, a difference of $45,237 (16.1%) versus the prior year and $-2,960 versus the prior month.

    York's median listing price comes in at 77% of the national average.

    York's average listing price for 2022-04-01 was $351,908, a difference of $42,482 (13.7%) versus the prior year and $-270 versus the prior month.

    For the 2022-04-01 period, York had 459 MLS listings, a difference of 16 listings (4%) versus the prior month and 45 listings (11%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - York (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 88 days 1,824 sqft
    2018-02-01 86 days 1,821 sqft
    2018-03-01 67 days 1,829 sqft
    2018-04-01 57 days 1,848 sqft
    2018-05-01 51 days 1,855 sqft
    2018-06-01 53 days 2,040 sqft
    2018-07-01 60 days 2,006 sqft
    2018-08-01 62 days 1,997 sqft
    2018-09-01 64 days 1,970 sqft
    2018-10-01 65 days 1,968 sqft
    2018-11-01 65 days 1,929 sqft
    2018-12-01 72 days 1,900 sqft
    2019-01-01 82 days 1,872 sqft
    2019-02-01 89 days 1,870 sqft
    2019-03-01 60 days 1,883 sqft
    2019-04-01 52 days 1,908 sqft
    2019-05-01 49 days 1,955 sqft
    2019-06-01 50 days 1,968 sqft
    2019-07-01 50 days 2,003 sqft
    2019-08-01 56 days 2,038 sqft
    2019-09-01 62 days 2,061 sqft
    2019-10-01 59 days 2,022 sqft
    2019-11-01 63 days 1,978 sqft
    2019-12-01 71 days 1,960 sqft
    2020-01-01 73 days 1,955 sqft
    2020-02-01 63 days 1,984 sqft
    2020-03-01 49 days 2,042 sqft
    2020-04-01 67 days 2,074 sqft
    2020-05-01 71 days 2,080 sqft
    2020-06-01 44 days 2,007 sqft
    2020-07-01 44 days 2,045 sqft
    2020-08-01 48 days 2,018 sqft
    2020-09-01 44 days 1,990 sqft
    2020-10-01 51 days 1,974 sqft
    2020-11-01 53 days 1,949 sqft
    2020-12-01 64 days 1,935 sqft
    2021-01-01 72 days 1,920 sqft
    2021-02-01 73 days 1,898 sqft
    2021-03-01 50 days 1,897 sqft
    2021-04-01 45 days 1,912 sqft
    2021-05-01 45 days 1,916 sqft
    2021-06-01 42 days 1,875 sqft
    2021-07-01 43 days 1,865 sqft
    2021-08-01 40 days 1,854 sqft
    2021-09-01 49 days 1,835 sqft
    2021-10-01 54 days 1,871 sqft
    2021-11-01 49 days 1,842 sqft
    2021-12-01 52 days 1,860 sqft
    2022-01-01 52 days 1,900 sqft
    2022-02-01 44 days 1,900 sqft
    2022-03-01 43 days 1,920 sqft
    2022-04-01 44 days 1,950 sqft
    York's median listing age (time on market) for 2022-04-01 was 44 days. This is -1% shorter than the same period one year ago.

    York's median square footage for active listings during the 2022-04-01 period was 1,950 sqft. One year prior, the average listing was 1,912 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).