Youngstown FHA Loan Rates, Closing Costs & Stats

YOUNGSTOWN-WARREN-BOARDMAN, OH-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.

Youngstown's 110 lenders originated 1,493 FHA loans during 2023. The total origination value was $216,165,000, with an average FHA loan value of $144,786.

Youngstown FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Youngstown averaged 6.7% for the week of 2024-05-17, compared to the national average (all FHA variants) of 6.744% for the same period.

Youngstown's average FHA mortgage closing costs are $6,080.

The average rate for the prior week (2024-05-10) was 6.84% and one month ago for the week of 2024-04-12, the average rate was 7.01%.

The average rate one year ago was 6.46%.

For refis of the same type during the week of 2024-05-17, the average rate was 7.8%.

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

Youngstown 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 Youngstown level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Ixonia Bank 254 7.01% $8,551
QUICKEN LOANS, LLC 163 6.49% $8,177
The Huntington National Bank 101 6.82% $6,049
CROSSCOUNTRY MORTGAGE, LLC 94 7.02% $7,791
UNITED WHOLESALE MORTGAGE, LLC 79 6.61% $8,638
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 50 6.82% $5,425
WEST PENN FINANCIAL SERVICE CENTER, INC. 33 6.55% $6,488
FREEDOM MORTGAGE CORPORATION 25 6.92% $8,979
LIBERTY HOME MORTGAGE CORPORATION 20 7.14% $7,342
BROKER SOLUTIONS, INC. 18 6.78% $9,024
UNION HOME MORTGAGE CORP. 18 7.23% $8,189
American Midwest Mortgage Corporation 17 7.04% $6,323
Mr. Cooper ( Nationstar Mortgage ) 17 6.16% $12,752
LOANDEPOT.COM, LLC 16 6.37% $9,639
NEWREZ LLC 16 6.59% $8,982
MYCUMORTGAGE, LLC 16 7.01% $7,747
Equity Prime Mortgage LLC 15 6.12% $7,806
Citizens Bank 15 6.61% $5,921
PENNYMAC LOAN SERVICES, LLC 15 6.00% $8,651
HOWARD HANNA FINANCIAL SERVICES, INC. 14 6.63% $7,327
JPMorgan Chase Bank 14 6.72% $4,038
Carrington Mortgage Services, LLC 13 6.78% $10,385
First Commonwealth Bank 12 6.55% $6,454
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 7.19% $8,133
Flagstar Bank, FSB 11 6.62% $8,825
RAPID MORTGAGE COMPANY 11 7.26% $8,711
Waterstone Mortgage Corporation 9 7.13% $5,552
MUTUAL OF OMAHA MORTGAGE, INC. 8 6.97% $10,621
AMERISAVE MORTGAGE CORPORATION 8 6.22% $9,181
First Federal Bank of the Midwest 8 6.34% $5,784
The Farmers National Bank of Canfield 7 6.54% $6,884
TOP FLITE FINANCIAL, INC. 7 6.93% $10,942
PLANET HOME LENDING, LLC 7 6.59% $10,630
GUARANTEED RATE, INC. 7 6.58% $8,396
JLB CORPORATION 7 6.70% $7,797
NATIONWIDE MORTGAGE BANKERS, INC. 7 7.20% $7,544
MICHIGAN MUTUAL, INC. 6 6.40% $9,667
NFM, INC. 6 7.38% $10,518
WELCOME HOME FINANCE, L.P. 6 6.40% $6,608
EQUITY RESOURCES, INC. 6 6.83% $8,353
RUOFF MORTGAGE COMPANY, INC. 6 6.92% $2,708
LOANPAL, LLC 5 5.90% $8,445
RELIANCE FIRST CAPITAL, LLC 4 6.63% $8,616
PLAZA HOME MORTGAGE, INC. 4 6.31% $8,244
PNC Bank 4 6.66% $5,640
EMM LOANS LLC 4 6.59% $7,172
AFFORDABLE MORTGAGE ADVISORS, LLC. 4 7.09% $8,290
AMERICAN FINANCING CORPORATION 4 6.62% $6,641
ZILLOW HOME LOANS, LLC 4 6.50% $8,056
First National Bank of Pennsylvania 4 6.47% $5,737
CARDINAL FINANCIAL 4 6.50% $8,749
LAKEVIEW LOAN SERVICING, LLC 4 6.47% $7,066
Mortgage Research Center, LLC 4 7.22% $4,428
AMERICAN FINANCIAL RESOURCES, INC. 4 7.09% $8,458
Union Savings Bank 3 6.75% $6,092
MORIA DEVELOPMENT, INC. 3 7.04% $8,925
DRAPER AND KRAMER MORTGAGE CORP. 3 6.75% $11,076
SUN WEST MORTGAGE COMPANY, INC. 3 6.37% $10,306
AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.87% $8,056
Plains Commerce Bank 3 6.96% $8,140
GSF Mortgage Corporation 3 6.29% $7,251
M&T Bank 3 6.67% $5,863
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.75% $10,197
KeyBank 3 6.63% $9,035
VILLAGE CAPITAL MORTGAGE 3 5.50% $6,708
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 7.25% $5,346
POLARIS HOME FUNDING CORP. 2 6.69% $8,580
ALLIED MORTGAGE GROUP, INC. 2 6.06% $11,725
FIRST COMMUNITY MORTGAGE, INC. 2 7.06% $8,049
Fifth Third Bank 2 6.50% $6,302
MOVEMENT MORTGAGE, LLC 2 6.75% $7,977
Wells Fargo Bank 2 6.63% $6,170
Truist 2 7.00% $6,777
ENDEAVOR CAPITAL, LLC. 2 6.49% $10,704
ROYAL UNITED MORTGAGE LLC 2 7.19% $9,438
Bank of America 2 7.88% $9,091
Paramount Residential Mortgage Group, Inc. 2 6.44% $12,623
TOWNE MORTGAGE COMPANY 1 6.25% $6,243
AMCAP MORTGAGE, LTD. 1 6.75% $8,915
AMERICAN FINANCIAL NETWORK, INC. 1 7.50% $6,343
American Mortgage & Equity Consultants, Inc. 1 5.25% $9,059
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.25% $4,573
Bank of England 1 6.25% $7,421
Barrington Bank & Trust Company, N.A. 1 6.75% $5,953
BAY EQUITY LLC 1 6.25% $9,075
CALIBER HOME LOANS, INC. 1 5.75% $8,998
CHURCHILL MORTGAGE CORPORATION 1 6.63% $9,416
DAS Acquisition Company, LLC 1 7.38% $8,276
DEVELOPER'S MORTGAGE COMPANY 1 7.50% $4,687
East Coast Capital Corp. 1 7.50% $9,941
Evolve Bank & Trust 1 6.75% $13,765
First Federal Savings and Loan Association of Lakewood 1 7.25% $9,068
GENEVA FINANCIAL, LLC 1 6.50% $12,552
GREENTREE MORTGAGE COMPANY, L.P. 1 6.25% $10,186
GUILD MORTGAGE COMPANY 1 6.63% $9,334
Hometown Equity Mortgage, LLC 1 6.25% $8,002
LEADERONE FINANCIAL CORPORATION 1 6.75% $10,054
Loan Simple, Inc. 1 5.75% $8,893
Nations Lending Corporation 1 7.75% $6,966
OCEANSIDE MORTGAGE COMPANY 1 6.50% $5,144
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.63% $9,851
PENTAGON FEDERAL CREDIT UNION 1 6.88% $8,661
PHH Mortgage Corporation 1 6.13% $8,564
Prosperity Home Mortgage, LLC 1 5.99% $12,937
T2 FINANCIAL LLC 1 6.75% $8,581
The Federal Savings Bank 1 6.63% $29,388
TIDEWATER MORTGAGE SERVICES, INC. 1 6.63% $8,156
U.S. Bank 1 6.25% $4,297
V.I.P. MORTGAGE, INC. 1 6.63% $5,805
YOUR HOME FINANCIAL LLC 1 6.75% $11,833

The top Youngstown FHA lender as defined by loan originations is Ixonia Bank, with 254 FHA loans originated. Their average total fees are $8,551, which is $374 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Youngstown FHA lenders (with over 10 loans originated) are JPMorgan Chase Bank ($4,038), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,425), Citizens Bank ($5,921), The Huntington National Bank ($6,049) and American Midwest Mortgage Corporation ($6,323).

The lowest rate Youngstown FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (6.00%), Equity Prime Mortgage LLC (6.12%), Mr. Cooper ( Nationstar Mortgage ) (6.16%), LOANDEPOT.COM, LLC (6.37%) and QUICKEN LOANS, LLC (6.49%).

Youngstown FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Youngstown (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 $105,000 (11.2%) $150,868 (6.2%) 0.39 1,888
2018-02-01 $102,400 (6.6%) $150,818 (3.6%) 0.37 1,822
2018-03-01 $109,900 (10.7%) $156,364 (7.6%) 0.39 1,755
2018-04-01 $111,250 (11.4%) $156,003 (7.0%) 0.38 1,694
2018-05-01 $118,500 (12.9%) $161,936 (6.4%) 0.40 1,723
2018-06-01 $118,850 (16.5%) $160,759 (6.9%) 0.40 1,760
2018-07-01 $117,750 (12.1%) $159,937 (7.8%) 0.39 1,889
2018-08-01 $119,700 (14.0%) $162,626 (9.4%) 0.40 1,929
2018-09-01 $120,000 (9.1%) $162,693 (7.4%) 0.40 1,928
2018-10-01 $120,937 (10.0%) $163,026 (7.2%) 0.41 1,941
2018-11-01 $119,900 (9.1%) $162,641 (6.0%) 0.41 1,899
2018-12-01 $119,500 (10.1%) $162,438 (7.8%) 0.41 1,749
2019-01-01 $119,900 (14.2%) $161,394 (7.0%) 0.41 1,697
2019-02-01 $119,900 (17.1%) $161,705 (7.2%) 0.41 1,640
2019-03-01 $122,086 (11.1%) $168,839 (8.0%) 0.40 1,610
2019-04-01 $122,111 (9.8%) $172,942 (10.9%) 0.39 1,622
2019-05-01 $124,900 (5.4%) $174,700 (7.9%) 0.39 1,573
2019-06-01 $129,000 (8.5%) $179,819 (11.9%) 0.40 1,680
2019-07-01 $129,900 (10.3%) $180,090 (12.6%) 0.41 1,748
2019-08-01 $129,082 (7.8%) $178,126 (9.5%) 0.41 1,761
2019-09-01 $127,855 (6.6%) $176,186 (8.3%) 0.41 1,779
2019-10-01 $125,950 (4.1%) $175,156 (7.4%) 0.41 1,784
2019-11-01 $122,900 (2.5%) $171,810 (5.6%) 0.40 1,722
2019-12-01 $119,900 (0.3%) $170,627 (5.0%) 0.40 1,644
2020-01-01 $119,900 (0.0%) $170,381 (5.6%) 0.40 1,535
2020-02-01 $119,900 (0.0%) $169,536 (4.8%) 0.39 1,399
2020-03-01 $120,000 (-1.7%) $174,925 (3.6%) 0.38 1,277
2020-04-01 $119,700 (-2.0%) $174,852 (1.1%) 0.37 1,214
2020-05-01 $125,000 (0.1%) $179,592 (2.8%) 0.38 1,114
2020-06-01 $129,900 (0.7%) $186,647 (3.8%) 0.38 1,017
2020-07-01 $130,950 (0.8%) $189,096 (5.0%) 0.38 926
2020-08-01 $135,000 (4.6%) $190,863 (7.2%) 0.39 866
2020-09-01 $137,450 (7.5%) $194,419 (10.4%) 0.39 796
2020-10-01 $136,000 (8.0%) $194,938 (11.3%) 0.39 818
2020-11-01 $136,900 (11.4%) $190,977 (11.2%) 0.40 812
2020-12-01 $135,450 (13.0%) $191,433 (12.2%) 0.40 753
2021-01-01 $129,900 (8.3%) $191,043 (12.1%) 0.39 642
2021-02-01 $129,450 (8.0%) $194,838 (14.9%) 0.38 523
2021-03-01 $129,900 (8.3%) $189,255 (8.2%) 0.37 476
2021-04-01 $131,000 (9.4%) $195,347 (11.7%) 0.35 451
2021-05-01 $139,900 (11.9%) $210,232 (17.1%) 0.37 476
2021-06-01 $135,250 (4.1%) $201,025 (7.7%) 0.36 589
2021-07-01 $138,500 (5.8%) $193,972 (2.6%) 0.37 713
2021-08-01 $132,425 (-1.9%) $192,465 (0.8%) 0.35 767
2021-09-01 $129,900 (-5.5%) $194,245 (-0.1%) 0.35 773
2021-10-01 $129,900 (-4.5%) $193,502 (-0.7%) 0.35 773
2021-11-01 $129,900 (-5.1%) $187,285 (-1.9%) 0.35 751
2021-12-01 $126,350 (-6.7%) $190,472 (-0.5%) 0.34 662
2022-01-01 $119,950 (-7.7%) $183,825 (-3.8%) 0.32 580
2022-02-01 $118,750 (-8.3%) $183,943 (-5.6%) 0.31 486
2022-03-01 $126,250 (-2.8%) $195,504 (3.3%) 0.32 438
2022-04-01 $131,950 (0.7%) $203,499 (4.2%) 0.31 476
2022-05-01 $137,200 (-1.9%) $203,607 (-3.2%) 0.31 567
2022-06-01 $148,000 (9.4%) $207,977 (3.5%) 0.33 675
2022-07-01 $146,950 (6.1%) $211,055 (8.8%) 0.33 761
2022-08-01 $150,000 (13.3%) $211,518 (9.9%) 0.35 815
2022-09-01 $148,250 (14.1%) $208,344 (7.3%) 0.35 855
2022-10-01 $149,714 (15.3%) $207,863 (7.4%) 0.35 862
2022-11-01 $151,250 (16.4%) $209,401 (11.8%) 0.36 826
2022-12-01 $149,900 (18.6%) $207,102 (8.7%) 0.37 757
2023-01-01 $149,900 (25.0%) $208,791 (13.6%) 0.37 656
2023-02-01 $151,200 (27.3%) $208,412 (13.3%) 0.36 576
2023-03-01 $159,900 (26.7%) $224,253 (14.7%) 0.38 563
2023-04-01 $159,900 (21.2%) $232,184 (14.1%) 0.37 521
2023-05-01 $162,450 (18.4%) $235,474 (15.7%) 0.37 511
2023-06-01 $168,750 (14.0%) $238,221 (14.5%) 0.38 559
2023-07-01 $172,250 (17.2%) $241,317 (14.3%) 0.39 606
2023-08-01 $180,538 (20.4%) $245,630 (16.1%) 0.41 676
2023-09-01 $173,650 (17.1%) $238,173 (14.3%) 0.40 782
2023-10-01 $168,675 (12.7%) $229,824 (10.6%) 0.40 903
2023-11-01 $165,000 (9.1%) $225,678 (7.8%) 0.39 897
2023-12-01 $159,900 (6.7%) $219,997 (6.2%) 0.39 864
2024-01-01 $164,225 (9.6%) $223,339 (7.0%) 0.40 790
2024-02-01 $159,900 (5.8%) $224,319 (7.6%) 0.38 706
2024-03-01 $174,900 (9.4%) $241,851 (7.9%) 0.41 659
2024-04-01 $179,950 (12.5%) $250,574 (7.9%) 0.42 638
Youngstown's median listing price for 2024-04-01 was $179,950, a difference of $20,050 (12.5%) versus the prior year and $5,050 versus the prior month.

Youngstown's median listing price comes in at 42% of the national average.

Youngstown's average listing price for 2024-04-01 was $250,574, a difference of $18,390 (7.9%) versus the prior year and $8,723 versus the prior month.

For the 2024-04-01 period, Youngstown had 638 MLS listings, a difference of -21 listings (-3%) versus the prior month and 117 listings (22%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Youngstown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 103 days 1,512 sqft
2018-02-01 103 days 1,506 sqft
2018-03-01 88 days 1,508 sqft
2018-04-01 76 days 1,514 sqft
2018-05-01 70 days 1,535 sqft
2018-06-01 64 days 1,572 sqft
2018-07-01 62 days 1,680 sqft
2018-08-01 61 days 1,700 sqft
2018-09-01 65 days 1,700 sqft
2018-10-01 66 days 1,704 sqft
2018-11-01 71 days 1,697 sqft
2018-12-01 86 days 1,693 sqft
2019-01-01 96 days 1,689 sqft
2019-02-01 100 days 1,703 sqft
2019-03-01 87 days 1,707 sqft
2019-04-01 72 days 1,704 sqft
2019-05-01 67 days 1,629 sqft
2019-06-01 65 days 1,632 sqft
2019-07-01 64 days 1,647 sqft
2019-08-01 66 days 1,655 sqft
2019-09-01 69 days 1,683 sqft
2019-10-01 72 days 1,700 sqft
2019-11-01 81 days 1,696 sqft
2019-12-01 90 days 1,682 sqft
2020-01-01 98 days 1,660 sqft
2020-02-01 98 days 1,658 sqft
2020-03-01 90 days 1,673 sqft
2020-04-01 84 days 1,660 sqft
2020-05-01 96 days 1,681 sqft
2020-06-01 91 days 1,688 sqft
2020-07-01 58 days 1,758 sqft
2020-08-01 54 days 1,722 sqft
2020-09-01 62 days 1,732 sqft
2020-10-01 62 days 1,743 sqft
2020-11-01 62 days 1,693 sqft
2020-12-01 71 days 1,698 sqft
2021-01-01 81 days 1,680 sqft
2021-02-01 76 days 1,679 sqft
2021-03-01 53 days 1,656 sqft
2021-04-01 45 days 1,657 sqft
2021-05-01 39 days 1,691 sqft
2021-06-01 32 days 1,601 sqft
2021-07-01 36 days 1,552 sqft
2021-08-01 41 days 1,535 sqft
2021-09-01 45 days 1,518 sqft
2021-10-01 46 days 1,512 sqft
2021-11-01 47 days 1,529 sqft
2021-12-01 56 days 1,507 sqft
2022-01-01 68 days 1,480 sqft
2022-02-01 63 days 1,452 sqft
2022-03-01 52 days 1,493 sqft
2022-04-01 38 days 1,540 sqft
2022-05-01 34 days 1,522 sqft
2022-06-01 35 days 1,582 sqft
2022-07-01 38 days 1,609 sqft
2022-08-01 42 days 1,630 sqft
2022-09-01 46 days 1,602 sqft
2022-10-01 50 days 1,596 sqft
2022-11-01 53 days 1,621 sqft
2022-12-01 62 days 1,568 sqft
2023-01-01 73 days 1,580 sqft
2023-02-01 68 days 1,568 sqft
2023-03-01 49 days 1,638 sqft
2023-04-01 51 days 1,629 sqft
2023-05-01 44 days 1,626 sqft
2023-06-01 38 days 1,661 sqft
2023-07-01 37 days 1,680 sqft
2023-08-01 40 days 1,727 sqft
2023-09-01 40 days 1,661 sqft
2023-10-01 42 days 1,615 sqft
2023-11-01 45 days 1,630 sqft
2023-12-01 57 days 1,573 sqft
2024-01-01 72 days 1,613 sqft
2024-02-01 73 days 1,601 sqft
2024-03-01 59 days 1,650 sqft
2024-04-01 47 days 1,679 sqft
Youngstown's median listing age (time on market) for 2024-04-01 was 47 days. This is -8% shorter than the same period one year ago.

Youngstown's median square footage for active listings during the 2024-04-01 period was 1,679 sqft. One year prior, the average listing was 1,629 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).