York FHA Loan Rates, Closing Costs & Stats
YORK-HANOVER, 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.
York's 150 lenders originated 1,667 FHA loans during 2022. The total origination value was $370,555,000, with an average FHA loan value of $222,289.
York FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in York
averaged
6.54%
for the week of 2023-05-26, compared to the national average (all FHA variants) of
6.612% for the same period.
York's average FHA mortgage closing costs are $7,581.
The average rate for the prior week (2023-05-19) was
6.01% and
one month ago for the week of 2023-04-21, the
average rate was 5.95%.
The average rate one year ago was 5.07%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.36%.
York 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 York level.
The top York FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
127 FHA loans originated. Their average total fees are
$10,395, which is $726
higher than the next largest lender,
CROSSCOUNTRY MORTGAGE, LLC.
The lowest fee York FHA lenders (with over 10 loans originated) are
M&T Bank ($7,116), PENNYMAC LOAN SERVICES, LLC ($7,622), Fulton Bank ($7,664), LAKEVIEW LOAN SERVICING, LLC ($7,740) and NEWREZ LLC ($8,129).
The lowest rate York FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (3.89%), PENNYMAC LOAN SERVICES, LLC (4.04%), SOUTHERN TRUST MORTGAGE, LLC (4.05%), LAKEVIEW LOAN SERVICING, LLC (4.23%) and MEMBERS 1ST FEDERAL CREDIT UNION (4.29%).
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 |
YORK-HANOVER, PA | YORK | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - York (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $211,450 (14.3%) | $236,366 (10.1%) | 0.78 | 1,523 |
2018-02-01 | $214,949 (16.2%) | $242,458 (12.8%) | 0.78 | 1,407 |
2018-03-01 | $213,921 (12.7%) | $243,937 (9.3%) | 0.75 | 1,392 |
2018-04-01 | $219,900 (10.0%) | $246,994 (7.2%) | 0.75 | 1,457 |
2018-05-01 | $226,950 (7.6%) | $253,143 (7.2%) | 0.76 | 1,494 |
2018-06-01 | $229,410 (9.3%) | $255,854 (7.5%) | 0.77 | 1,581 |
2018-07-01 | $228,114 (8.7%) | $255,806 (6.4%) | 0.76 | 1,594 |
2018-08-01 | $224,900 (7.1%) | $253,985 (6.1%) | 0.75 | 1,630 |
2018-09-01 | $219,900 (8.9%) | $248,776 (5.4%) | 0.74 | 1,586 |
2018-10-01 | $219,450 (4.6%) | $246,206 (2.8%) | 0.74 | 1,653 |
2018-11-01 | $219,900 (10.0%) | $245,939 (5.5%) | 0.75 | 1,660 |
2018-12-01 | $217,400 (8.8%) | $243,146 (4.9%) | 0.75 | 1,600 |
2019-01-01 | $218,343 (3.3%) | $240,875 (1.9%) | 0.75 | 1,415 |
2019-02-01 | $219,900 (2.3%) | $243,238 (0.3%) | 0.74 | 1,303 |
2019-03-01 | $219,900 (2.8%) | $245,072 (0.5%) | 0.73 | 1,309 |
2019-04-01 | $220,710 (0.4%) | $253,382 (2.6%) | 0.70 | 1,293 |
2019-05-01 | $229,025 (0.9%) | $258,920 (2.3%) | 0.72 | 1,333 |
2019-06-01 | $229,900 (0.2%) | $263,665 (3.1%) | 0.72 | 1,398 |
2019-07-01 | $238,925 (4.7%) | $269,168 (5.2%) | 0.75 | 1,415 |
2019-08-01 | $242,200 (7.7%) | $275,507 (8.5%) | 0.76 | 1,451 |
2019-09-01 | $247,208 (12.4%) | $283,581 (14.0%) | 0.78 | 1,236 |
2019-10-01 | $235,000 (7.1%) | $273,547 (11.1%) | 0.76 | 1,313 |
2019-11-01 | $231,995 (5.5%) | $268,372 (9.1%) | 0.76 | 1,204 |
2019-12-01 | $235,570 (8.4%) | $267,769 (10.1%) | 0.79 | 1,095 |
2020-01-01 | $237,659 (8.9%) | $267,065 (10.9%) | 0.79 | 994 |
2020-02-01 | $248,983 (13.2%) | $274,477 (12.8%) | 0.82 | 917 |
2020-03-01 | $258,570 (17.6%) | $284,984 (16.3%) | 0.81 | 909 |
2020-04-01 | $267,900 (21.4%) | $292,028 (15.3%) | 0.84 | 838 |
2020-05-01 | $259,995 (13.5%) | $292,167 (12.8%) | 0.79 | 900 |
2020-06-01 | $255,423 (11.1%) | $289,737 (9.9%) | 0.75 | 849 |
2020-07-01 | $260,629 (9.1%) | $304,904 (13.3%) | 0.76 | 754 |
2020-08-01 | $271,400 (12.1%) | $307,605 (11.7%) | 0.78 | 680 |
2020-09-01 | $268,445 (8.6%) | $309,658 (9.2%) | 0.77 | 644 |
2020-10-01 | $259,995 (10.6%) | $305,693 (11.8%) | 0.75 | 636 |
2020-11-01 | $262,500 (13.2%) | $310,743 (15.8%) | 0.77 | 605 |
2020-12-01 | $263,945 (12.1%) | $315,609 (17.9%) | 0.79 | 540 |
2021-01-01 | $264,945 (11.5%) | $316,802 (18.6%) | 0.79 | 442 |
2021-02-01 | $274,482 (10.2%) | $319,792 (16.5%) | 0.80 | 405 |
2021-03-01 | $276,443 (6.9%) | $309,138 (8.5%) | 0.78 | 422 |
2021-04-01 | $280,693 (4.8%) | $307,756 (5.4%) | 0.76 | 427 |
2021-05-01 | $279,900 (7.7%) | $303,759 (4.0%) | 0.74 | 484 |
2021-06-01 | $262,450 (2.8%) | $295,169 (1.9%) | 0.69 | 599 |
2021-07-01 | $269,900 (3.6%) | $300,820 (-1.3%) | 0.71 | 638 |
2021-08-01 | $263,765 (-2.8%) | $298,738 (-2.9%) | 0.70 | 656 |
2021-09-01 | $264,875 (-1.3%) | $303,450 (-2.0%) | 0.71 | 641 |
2021-10-01 | $264,900 (1.9%) | $305,327 (-0.1%) | 0.71 | 589 |
2021-11-01 | $266,400 (1.5%) | $304,822 (-1.9%) | 0.71 | 563 |
2021-12-01 | $281,039 (6.5%) | $322,087 (2.1%) | 0.76 | 487 |
2022-01-01 | $308,050 (16.3%) | $340,996 (7.6%) | 0.83 | 420 |
2022-02-01 | $317,445 (15.7%) | $342,297 (7.0%) | 0.83 | 423 |
2022-03-01 | $324,198 (17.3%) | $348,123 (12.6%) | 0.81 | 448 |
2022-04-01 | $324,950 (15.8%) | $347,779 (13.0%) | 0.77 | 452 |
2022-05-01 | $327,400 (17.0%) | $357,890 (17.8%) | 0.75 | 522 |
2022-06-01 | $323,160 (23.1%) | $357,847 (21.2%) | 0.72 | 570 |
2022-07-01 | $319,000 (18.2%) | $353,553 (17.5%) | 0.72 | 619 |
2022-08-01 | $324,900 (23.2%) | $356,746 (19.4%) | 0.75 | 607 |
2022-09-01 | $329,200 (24.3%) | $363,701 (19.9%) | 0.77 | 597 |
2022-10-01 | $339,990 (28.4%) | $365,136 (19.6%) | 0.80 | 599 |
2022-11-01 | $338,945 (27.2%) | $359,441 (17.9%) | 0.81 | 586 |
2022-12-01 | $345,000 (22.8%) | $361,239 (12.2%) | 0.85 | 565 |
2023-01-01 | $348,625 (13.2%) | $362,814 (6.4%) | 0.86 | 525 |
2023-02-01 | $358,650 (13.0%) | $373,575 (9.1%) | 0.87 | 479 |
2023-03-01 | $356,468 (10.0%) | $373,681 (7.3%) | 0.84 | 468 |
2023-04-01 | $342,620 (5.4%) | $368,469 (6.0%) | 0.80 | 449 |
York's median listing price comes in at 80% of the national average.
York's average listing price for 2023-04-01 was $368,469, a difference of $20,690 (6.0%) versus the prior year and $-5,212 versus the prior month.
For the 2023-04-01 period, York had 449 MLS listings, a difference of -19 listings (-4%) versus the prior month and -3 listings (-1%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - York (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 88 days | 1,836 sqft |
2018-02-01 | 86 days | 1,842 sqft |
2018-03-01 | 68 days | 1,846 sqft |
2018-04-01 | 57 days | 1,860 sqft |
2018-05-01 | 51 days | 1,873 sqft |
2018-06-01 | 53 days | 2,063 sqft |
2018-07-01 | 59 days | 2,020 sqft |
2018-08-01 | 61 days | 2,013 sqft |
2018-09-01 | 64 days | 2,000 sqft |
2018-10-01 | 66 days | 1,987 sqft |
2018-11-01 | 65 days | 1,948 sqft |
2018-12-01 | 71 days | 1,910 sqft |
2019-01-01 | 81 days | 1,877 sqft |
2019-02-01 | 87 days | 1,877 sqft |
2019-03-01 | 64 days | 1,900 sqft |
2019-04-01 | 53 days | 1,922 sqft |
2019-05-01 | 49 days | 1,962 sqft |
2019-06-01 | 51 days | 1,984 sqft |
2019-07-01 | 51 days | 2,026 sqft |
2019-08-01 | 65 days | 2,072 sqft |
2019-09-01 | 75 days | 2,096 sqft |
2019-10-01 | 60 days | 2,029 sqft |
2019-11-01 | 65 days | 1,995 sqft |
2019-12-01 | 73 days | 1,971 sqft |
2020-01-01 | 75 days | 1,959 sqft |
2020-02-01 | 66 days | 1,977 sqft |
2020-03-01 | 50 days | 2,030 sqft |
2020-04-01 | 68 days | 2,070 sqft |
2020-05-01 | 71 days | 2,072 sqft |
2020-06-01 | 47 days | 2,012 sqft |
2020-07-01 | 46 days | 2,053 sqft |
2020-08-01 | 47 days | 2,064 sqft |
2020-09-01 | 44 days | 1,996 sqft |
2020-10-01 | 53 days | 1,976 sqft |
2020-11-01 | 53 days | 1,948 sqft |
2020-12-01 | 64 days | 1,937 sqft |
2021-01-01 | 71 days | 1,920 sqft |
2021-02-01 | 71 days | 1,893 sqft |
2021-03-01 | 45 days | 1,905 sqft |
2021-04-01 | 42 days | 1,909 sqft |
2021-05-01 | 42 days | 1,909 sqft |
2021-06-01 | 38 days | 1,864 sqft |
2021-07-01 | 41 days | 1,870 sqft |
2021-08-01 | 40 days | 1,861 sqft |
2021-09-01 | 47 days | 1,850 sqft |
2021-10-01 | 54 days | 1,880 sqft |
2021-11-01 | 49 days | 1,847 sqft |
2021-12-01 | 53 days | 1,862 sqft |
2022-01-01 | 52 days | 1,900 sqft |
2022-02-01 | 43 days | 1,900 sqft |
2022-03-01 | 42 days | 1,919 sqft |
2022-04-01 | 43 days | 1,950 sqft |
2022-05-01 | 39 days | 1,950 sqft |
2022-06-01 | 37 days | 1,960 sqft |
2022-07-01 | 39 days | 1,991 sqft |
2022-08-01 | 39 days | 1,952 sqft |
2022-09-01 | 47 days | 2,000 sqft |
2022-10-01 | 51 days | 2,026 sqft |
2022-11-01 | 54 days | 2,009 sqft |
2022-12-01 | 58 days | 2,000 sqft |
2023-01-01 | 67 days | 2,002 sqft |
2023-02-01 | 64 days | 2,068 sqft |
2023-03-01 | 51 days | 2,028 sqft |
2023-04-01 | 45 days | 1,976 sqft |
York's median square footage for active listings during the 2023-04-01 period was 1,976 sqft. One year prior, the average listing was 1,950 sqft.