FHA Loans: What You Need to Know in 2022
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2022 FHA Loan Limits in Pennsylvania

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The 2022 FHA loan limit for single-family homes in Pennsylvania is now $420,680 throughout much of the state, though it’s $970,800 in Pike County, the northeastern corner that sits closest to the New York City metropolitan area.

The new limits in Pennsylvania represent large increases from 2021, when most Keystone State counties had an FHA loan limit of $356,362. Like much of the U.S., Pennsylvania has seen home prices rise sharply over the past year.

Pennsylvania FHA loan limits by county

County nameOne unitTwo unitsThree unitsFour unitsMedian sales price
ADAMS$420,680$538,650$651,050$809,150$215,000
ALLEGHENY$420,680$538,650$651,050$809,150$246,000
ARMSTRONG$420,680$538,650$651,050$809,150$246,000
BEAVER$420,680$538,650$651,050$809,150$246,000
BEDFORD$420,680$538,650$651,050$809,150$110,000
BERKS$420,680$538,650$651,050$809,150$185,000
BLAIR$420,680$538,650$651,050$809,150$121,000
BRADFORD$420,680$538,650$651,050$809,150$125,000
BUCKS$477,250$610,950$738,500$917,800$415,000
BUTLER$420,680$538,650$651,050$809,150$246,000
CAMBRIA$420,680$538,650$651,050$809,150$70,000
CAMERON$420,680$538,650$651,050$809,150$58,000
CARBON$420,680$538,650$651,050$809,150$280,000
CENTRE$420,680$538,650$651,050$809,150$265,000
CHESTER$477,250$610,950$738,500$917,800$415,000
CLARION$420,680$538,650$651,050$809,150$86,000
CLEARFIELD$420,680$538,650$651,050$809,150$83,000
CLINTON$420,680$538,650$651,050$809,150$135,000
COLUMBIA$420,680$538,650$651,050$809,150$180,000
CRAWFORD$420,680$538,650$651,050$809,150$90,000
CUMBERLAND$420,680$538,650$651,050$809,150$240,000
DAUPHIN$420,680$538,650$651,050$809,150$240,000
DELAWARE$477,250$610,950$738,500$917,800$415,000
ELK$420,680$538,650$651,050$809,150$80,000
ERIE$420,680$538,650$651,050$809,150$130,000
FAYETTE$420,680$538,650$651,050$809,150$246,000
FOREST$420,680$538,650$651,050$809,150$52,000
FRANKLIN$420,680$538,650$651,050$809,150$191,000
FULTON$420,680$538,650$651,050$809,150$80,000
GREENE$420,680$538,650$651,050$809,150$80,000
HUNTINGDON$420,680$538,650$651,050$809,150$104,000
INDIANA$420,680$538,650$651,050$809,150$100,000
JEFFERSON$420,680$538,650$651,050$809,150$75,000
JUNIATA$420,680$538,650$651,050$809,150$130,000
LACKAWANNA$420,680$538,650$651,050$809,150$160,000
LANCASTER$420,680$538,650$651,050$809,150$250,000
LAWRENCE$420,680$538,650$651,050$809,150$89,000
LEBANON$420,680$538,650$651,050$809,150$185,000
LEHIGH$420,680$538,650$651,050$809,150$280,000
LUZERNE$420,680$538,650$651,050$809,150$160,000
LYCOMING$420,680$538,650$651,050$809,150$150,000
MCKEAN$420,680$538,650$651,050$809,150$63,000
MERCER$420,680$538,650$651,050$809,150$117,000
MIFFLIN$420,680$538,650$651,050$809,150$80,000
MONROE$420,680$538,650$651,050$809,150$202,000
MONTGOMERY$477,250$610,950$738,500$917,800$415,000
MONTOUR$420,680$538,650$651,050$809,150$180,000
NORTHAMPTON$420,680$538,650$651,050$809,150$280,000
NORTHUMBERLAND$420,680$538,650$651,050$809,150$75,000
PERRY$420,680$538,650$651,050$809,150$240,000
PHILADELPHIA$477,250$610,950$738,500$917,800$415,000
PIKE$970,800$1,243,050$1,502,475$1,867,275$995,000
POTTER$420,680$538,650$651,050$809,150$91,000
SCHUYLKILL$420,680$538,650$651,050$809,150$82,000
SNYDER$420,680$538,650$651,050$809,150$160,000
SOMERSET$420,680$538,650$651,050$809,150$95,000
SULLIVAN$420,680$538,650$651,050$809,150$102,000
SUSQUEHANNA$420,680$538,650$651,050$809,150$110,000
TIOGA$420,680$538,650$651,050$809,150$127,000
UNION$420,680$538,650$651,050$809,150$190,000
VENANGO$420,680$538,650$651,050$809,150$65,000
WARREN$420,680$538,650$651,050$809,150$70,000
WASHINGTON$420,680$538,650$651,050$809,150$246,000
WAYNE$420,680$538,650$651,050$809,150$175,000
WESTMORELAND$420,680$538,650$651,050$809,150$246,000
WYOMING$420,680$538,650$651,050$809,150$160,000
YORK$420,680$538,650$651,050$809,150$210,000

How are FHA loan limits determined?

Each year the U.S. Department of Housing and Urban Development (HUD) sets limits for FHA loans — the maximum loan amount the Federal Housing Administration will insure. Limits are set for each county in the United States, based on that year’s conforming loan limit for a conventional mortgage. Because of rapidly rising home costs in 2021, conforming loan limits are 18% higher this year, as are FHA loan limits — and in 2022, the conforming loan limit for single-unit properties in most of the U.S. is $647,200.

The lowest FHA loan limit, or “floor,” is 65% of the conforming loan limit, while the “ceiling,” or maximum is 150% of that limit. The floor, the limit used in much of the country, is $420,680, with a ceiling of $970,800 in high-cost areas.

How to qualify for an FHA loan in Pennsylvania

The FHA loan program can help prospective homebuyers who don’t have sterling credit scores or sizable down payments. In addition, those who are just getting started might also qualify for assistance from Pennsylvania’s first-time homebuyer programs to either buy a home or help with closing costs and down payments.

Here is what you’ll need for an FHA loan:

  • At least a 500 credit score. You may qualify for an FHA loan with a score of 500 to 579. However, your lender will also require at least a 10% down payment. Check your credit score here.
  • At least a 3.5% down payment. If your credit score is 580 or higher, you may only need to put down 3.5% of the price of the home. As noted above, this amount will increase if your score is lower.
  • Mortgage amount. The amount you borrow can’t be higher than the FHA limit in your region. If you want to buy a home that costs more than that, you’ll have to make a larger down payment to cover the difference.
  • Debt-to-income ratio (DTI) of 43% or less. A DTI ratio is a comparison of your monthly debt spending to your total monthly income. The 43% figure is customary for mortgage lenders; however, some lenders may allow a higher DTI ratio in certain circumstances.
  • FHA home appraisal. Before you can get an FHA loan, you’ll need an FHA appraisal to confirm the value of the property you wish to buy.
  • Mortgage insurance. You’ll need to pay two kinds of mortgage insurance: an annual insurance premium (MIP) of 0.45% to 1.05% of the loan amount, as well as an upfront premium (UPMIP) equal to 1.75% of the loan amount. UPMIP will typically be financed into the cost of your loan, while MIP is added to your monthly payment.

Buying a multifamily property with an FHA loan

Qualified borrowers can buy a multifamily home (duplex, triplex or fourplex) with an FHA loan instead of seeking an investment property mortgage. To qualify, you’ll need to live in one unit for at least 12 months, but you can rent out the other units. You’ll also need to meet the same FHA loan requirements as you would for a single-family home.

FHA lenders in Pennsylvania

Here are seven highly rated lenders that are licensed in Pennsylvania. Click on their names to read a review.

Lender name LT rating Minimum credit score 
Guild Mortgage9540
Lower10580
Pennymac9620
Rocket Mortgage9.5580
Veterans United10620

 

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