York FHA Loans

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 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).