Home Values in Philadelphia County

*From 2022 public Census data

Interesting Mortgage Facts in Philadelphia County

• The average loan amount in Philadelphia County was $257,458 whereas the median loan amount was $185,000
• 17% percent of all loans in Philadelphia County were used for "cash out refinancing" (3685 out of 22107 total loans were cash-out refi loans)
• 14% percent of all mortgages in Philadelphia County were FHA loans (3158 out of 22107 total loans were FHA loans)
• 2% percent of all mortgages in Philadelphia County were VA (Veterans Affairs) loans (444 out of 22107 total loans were VA loans)
• 3.63% percent of the population in Philadelphia County were veterans (44896 out of 1236619 people were US military veterans)
• The biggest residential mortgage loan funded in Philadelphia County was $4,205,000!
• The average interest rate in Philadelphia County was 6.70% (30-year mortgages of $200,000 or more)
• The lowest interest rate given to a borrower on a 30-year mortgage of $200,000 or more was 1.990%
• The highest interest rate given to a borrower on a 30-year mortgage of $200,000 or more was 15.500%
• The average rate spread in Philadelphia County was 0.284% (30-year mortgages of $200,000 or more)
• The 25-34 age bracket made up the largest group of borrowers at 25% of all loans in Philadelphia County

*From 2023 public data reported by lenders as required by the Home Mortgage Disclosure Act (HMDA) and from 2022 public Census data

Conforming Loan Limits - Philadelphia County, PA

The Conforming Loan Limits for Philadelphia County, Pennsylvania are shown below.

FHA Loan Limits - Philadelphia County, PA (for 2025)

The 2025 FHA loan limits for Philadelphia County, Pennsylvania are described below.

Home Possible® Freddie Mac Loan Limits - Philadelphia County, PA

Eligibility for Freddie Mac's Home Possible® mortgage loan requires that your income is $91,520 or less if you are buying a home in Philadelphia County, Pennsylvania.

Homebuyers that earn 80% or less than the median income for their area (AMI - Area Median Income) generally are eligible for the Home Possible loan. Also, Freddie Mac has a special down payment assistance program that runs until February 28, 2025 for people that earn 50% or less than the median income. This is considered "very low income" by Freddie Mac. If you're in the very low income range, you're eligible for a $2500 down payment credit from Freddie Mac.

• Home Possible eligibility income limit in Philadelphia County, PA: $91,520
• Income limit for the $2500 down payment credit in Philadelphia County, PA: $57,200 per year

*For the most accurate income limits for the Freddie Mac Home Possible® loan and down payment assistance, please visit the Home Possible® Income and Property Eligibility Tool

Own or Rent in Philadelphia County?

*From 2022 public Census data

Household incomes in Philadelphia County

• Typical household income in Philadelphia County (median income): $56,517
• Number of homes with income between $20K - $40K: 127,840
• Number of homes with income between $40K - $60K: 94,921
• Number of homes with income between $60K - $100K: 140,989
• Number of homes with income between $100K - $150K: 91,910
• Number of homes with income between $150K - $200K: 46,496
• Number of homes with income over $200K: 54,229

*From 2022 public Census data

The people of Philadelphia County, PA

*From 2022 public Census data

Borrower complaints in Philadelphia County

Date of Complaint: 7/10/2025
ZIP code of borrower: 19154 (PHILADELPHIA, PA)
Company/Lender: MIDFIRST BANK
Issue or Problem: Struggling to pay mortgage (Foreclosure)
To whom it may concern, I requested, and was granted, pandemic/hardship mortgage assistance beginning XXXX of XXXX and ending XXXX XXXX the time of the delayed payments, I received monthly automated calls from XXXX, reminding when the assistance would end, etcMy original request was due to the fact that my home mortgage was a 15 year mortgage so I was paying a lot moreAlthough I was still making both mortgage payments, I was struggling I ultimately refinanced my home in Florida and went back to a 30 yr mortgage lowering my payment ( XXXX of XXXX my home in Florida was severely damaged by XXXX XXXX XXXX I started making my regular monthly payments in XXXX of XXXX on my deceased sons property in XXXX. I received a notice from XXXX mortgage that my loan was in default and if the amount owed wasnt paid in 35 days, the home would be placed in foreclosureI was told by an associate by phone that as long as I made regular payments, that would not happenIt didnt make sense to me that a company would offer deferred payments then expect full payment at the end of the term!! On XX/XX/XXXX, tragically I lost my second child .. However I did inform a mortgage associate about my loss.I continued to make regular payments however, I was able to make three payments in XXXX and XXXX payments in XXXX also made XXXX payment, then when I called to make XXXX payment and was shocked to learn the house was in foreclosure!! No explanation, just call this lawyer. I was paying extra payments, showing good faith to catch up on the hardship assistance that was provided I have records dating back probably over 20 years that on time payments, above the amount due, were made monthly .. I have records that I have in good faith attempted to catch up on my delayed payments, from the so called assistance..
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response

Date of Complaint: 7/1/2025
ZIP code of borrower: 19141 (PHILADELPHIA, PA)
Company/Lender: WELLS FARGO & COMPANY
Issue or Problem: Applying for a mortgage or refinancing an existing mortgage (Trying to communicate with the company to fix an issue with the application process)
b'On XXXX XXXX XXXX I received a letter from Wells Fargo dated JXXXX XXXX XXXX XXXX from XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX . In regards to a Trial Modification however I was already approved for a Trial Modification back on XXXX XXXX . And they already received my first required payment for the month of XXXX XXXX . Sadly this is Wells Fargos continued racially motivated games against XXXX . And despite them being already notified about the XXXX XXXX Grant these XXXX dont wanna this XXXX man to receive it and this is why these XXXX are constantly continuing to play these games . Also since Im out of Foreclosure why is my residence still on the Sheriff Sale List ? Also I received a call from a XXXX XXXX XXXX XXXX XXXX however heres some more game playing she has yet to return any of my calls \n\n\nCC : Pa Office Of Attorney General \n United Stated Department Of Justice \n Civil Rights Division'
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response

Date of Complaint: 6/27/2025
ZIP code of borrower: 19146 (PHILADELPHIA, PA)
Company/Lender: Freedom Mortgage Company
Issue or Problem: Struggling to pay mortgage (Trying to communicate with the company to fix an issue related to modification, forbearance, short sale, deed-in-lieu, bankruptcy, or foreclosure)
In XX/XX/XXXX, I applied for loss mitigation assistance for my Freedom Mortgage loan but was unfairly denied. I received a written notice of this denial, stating that my application was rejected because of " title issues ''. This decision was made in error. There are no liens on my property as reported by the public city docket. Previously, there was a water lien reported on the property, but the city marked the issue as a " lien filed in error as of XX/XX/XXXX. Freedom Mortgages careless and incorrect reading of my file prompted me to seek counsel. My attorney sent a RESPA Notice of Error to Freedom Mortgage Corporation and requested that they reverse the denial. While this issue is pending, I had to submit a new loss mitigation application. Because of this error, I have been unable to resolve the delinquency of my mortgage on my own, and Freedom Mortgage has now issued a notice to foreclose on my property.
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response

Date of Complaint: 5/22/2025
ZIP code of borrower: 19131 (PHILADELPHIA, PA)
Company/Lender: Mr. Cooper Group Inc.
Issue or Problem: Struggling to pay mortgage (Applying for or obtaining a modification, forbearance plan, short sale, or deed-in-lieu)
Hello, I am contacting you about my Mortgage Loan Modification Application and how they Mortgage is still high after waiting like 6 months and I have to return this paperwork by the middle of XXXX so can you contact me? Because the reason why I redid the Loan Modification again because it was high ( {$1300.00} ) also, they reduced the loan percentage, but I still have to pay $ XXXX something a month which is too high. Ever since I was Illegally transferred to Mr. Cooper by XXXX XXXX of XXXX XXXX XXXX XXXX XXXX XXXX in XX/XX/XXXX I have had constant problems with this company. Now they are double billing me with my escrow which is making my mortgage payments too high and this company extremely unfair shady when it comes to calculating the cost for the Mortgage. I need your help with their organization, and I know they were investigated for their illegal Foreclosures and high Interest on the Home Loan this you help you a little.They even have Payments from unknown funds paid towards my loan that myself and even the VA doesn't know about. They received {$74000.00} on XX/XX/XXXX yet they still say I owe {$140000.00}, and I am not signing the new Home Loan Modification because I do not trust them or their calculations.

Date of Complaint: 5/13/2025
ZIP code of borrower: 19154 (PHILADELPHIA, PA)
Company/Lender: Shellpoint Partners, LLC
Issue or Problem: Trouble during payment process (Escrow, taxes, or insurance)
Newrez has been making all kinds of errors processing my mortgage payment which in turn is can me grief Newrez has also been trying to solicit new business from me and I have to be pleading with them not to contact me with any making calls
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response

Date of Complaint: 5/6/2025
ZIP code of borrower: 19141 (PHILADELPHIA, PA)
Company/Lender: WELLS FARGO & COMPANY
Issue or Problem: Trouble during payment process (Trying to communicate with the company to fix an issue while managing or servicing your loan)
I was told on this evening by an unprofessional customer service representative that Wells Fargo will not be excepting the {$50000.00} Grant from the Pennsylvania XXXX XXXX despite another representative telling me that they will be reaching out to XXXX XXXX on XXXX in which they appear to not have done and these constant lies are totally unacceptable. Plus I had sent them out a payment of {$750.00} weeks ago and theyre once again lying by claiming that they havent received it
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response

Date of Complaint: 4/28/2025
ZIP code of borrower: 19141 (PHILADELPHIA, PA)
Company/Lender: WELLS FARGO & COMPANY
Issue or Problem: Applying for a mortgage or refinancing an existing mortgage (Trying to communicate with the company to fix an issue with the application process)
On today XXXX XXXX I had returned another hang up call from the Wells Fargo Bankruptcy XXXX Department and a XXXX answered the call to whom I had spoken to several times in the past to has a reputation of giving out misleading and incorrect information. He stated that Ive been approved for a Loan Modification. However he became absent minded when I had mentioned the {$50000.00} Grant thats been offered by the state of Pennsylvania. In which Im getting completely fed up with these games and as stated I prefer to hear only from my point of contact because its been proven that these customer service representatives are just making codes calls without having the facts
Company Response: Company has responded to the consumer and the CFPB and chooses not to provide a public response

*From public CFPB data

Top 5 mortgage companies doing the most loans to Asians in Philadelphia County

*From 2023 public data reported by lenders as required by the Home Mortgage Disclosure Act (HMDA)
*Includes loans where the applicant race was reported as one of the following: Asian, Native Hawaiian or Other Pacific Islander, Asian Indian, Chinese, Filipino, Japanese, Korean, Vietnamese, Other Asian, Native Hawaiian, Other Pacific Islander

Top 5 mortgage companies doing the most loans to Blacks in Philadelphia County

*From 2023 public data reported by lenders as required by the Home Mortgage Disclosure Act (HMDA)

Top 5 mortgage companies doing the most loans to Hispanics in Philadelphia County

*From 2023 public data reported by lenders as required by the Home Mortgage Disclosure Act (HMDA)

Top 5 mortgage companies doing the most loans to Whites in Philadelphia County

*From 2023 public data reported by lenders as required by the Home Mortgage Disclosure Act (HMDA)