A weekly review of recently sold homes in Wallingford PA and current market statistics.
There are 61 homes listed for sale in Wallingford PA and Nether Providence Township on March 26, 2019 with an average asking price of $448,495.
The Federal Housing Administration has announced tighter lending standards, which could put up to 50,000 mortgages in jeopardy annually. The FHA insures mortgages for first-time home buyers and often borrowers with low credit scores and high loan payments relative to their incomes. The clampdown is on lending rules that the FHA believes are allowing too many risky loans to be approved.
The FHA says it will begin to flag more loans as “high risk.” Loans will go through a rigorous manual underwriting process, the agency says. The FHA claims it wants to ensure that it isn’t issuing loans to borrowers who can’t repay and better protect itself against an uptick in defaults that could ultimately deplete its reserves.
About 40,000 to 50,000 loans a year will likely be affected by the tighter underwriting standards, or about 4% to 5% of the FHA-insured mortgages originated annually, Keith Becker, the FHA’s chief risk officer, told The Wall Street Journal.
View all Nether Providence Twp Homes For Sale
View all Homes Listed In The Last 7 Days
*DOM = Days On Market
11 Wallingford PA homes went under contract
4 new listings came onto the market
No listings expired
No listings were withdrawn from the market
49 homes are Under Contract at this time
1 Wallingford PA home sold last week
|1240 Putnam Blvd||TOWN||2||2.2||$194,500||03/22/19||12|
|431 Saybroook Lane||TOWN||2||2.1||$170,000||03/15/19||115|
1240 Putnam Blvd sold with a $250 Seller Assist
Wallingford PA Real Estate – Wallingford, PA 19086