Allentown USDA Loan Rates, Closing Costs & Stats

ALLENTOWN-BETHLEHEM-EASTON, PA-NJ

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Allentown's 17 lenders originated 32 USDA loans during 2023. The total origination value was $6,430,000, with an average USDA loan value of $200,938.

Allentown USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Allentown averaged 6.91% for the week of 2024-05-24, compared to the national average (all USDA variants) of 6.738% for the same period.

Allentown's average USDA mortgage closing costs are $5,713.

The average rate for the prior week (2024-05-17) was 6.99% and one month ago for the week of 2024-04-19, the average rate was 7.13%.

The average rate one year ago was 6.35%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.69%.

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

Allentown USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Allentown level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Mortgage America, Inc. 5 6.68% $7,180
CROSSCOUNTRY MORTGAGE, LLC 4 6.84% $7,710
UNITED WHOLESALE MORTGAGE, LLC 3 6.65% $8,291
T2 FINANCIAL LLC 3 6.38% $8,622
ABSOLUTE HOME MORTGAGE CORPORATION 2 6.19% $9,124
Equity Prime Mortgage LLC 2 7.44% $5,980
PLAZA HOME MORTGAGE, INC. 2 6.37% $9,337
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $6,096
GUARANTEED RATE AFFINITY, LLC 1 6.75% $7,167
Citizens Bank 1 6.75% $8,701
NJ LENDERS CORP. 1 6.13% $8,965
Paramount Residential Mortgage Group, Inc. 1 6.63% $9,485
Plains Commerce Bank 1 6.50% $9,508
AMERICAN FINANCIAL NETWORK, INC. 1 7.13% $10,351
Century Mortgage Company DBA Century Lending Company 1 5.99% $10,819
CMG MORTGAGE, INC. 1 6.13% $6,070
The Huntington National Bank 1 6.00% $6,678

The top Allentown USDA lender as defined by loan originations is Mortgage America, Inc., with 5 USDA loans originated. Their average total fees are $7,180, which is $530 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee Allentown USDA lenders (with over 10 loans originated) are .

The lowest rate Allentown USDA lenders (with over 10 loans originated) are .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Allentown (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 $209,950 (10.5%) $277,520 (9.6%) 0.78 2,748
2018-02-01 $214,350 (8.8%) $281,165 (10.1%) 0.78 2,659
2018-03-01 $225,000 (10.6%) $286,425 (8.8%) 0.79 2,646
2018-04-01 $229,900 (6.9%) $288,560 (7.1%) 0.78 2,735
2018-05-01 $234,900 (7.0%) $292,661 (5.9%) 0.78 2,956
2018-06-01 $234,900 (6.6%) $295,401 (4.9%) 0.78 3,112
2018-07-01 $234,125 (6.4%) $292,661 (4.0%) 0.78 3,272
2018-08-01 $229,900 (4.6%) $287,985 (2.6%) 0.77 3,404
2018-09-01 $225,000 (1.4%) $284,677 (0.5%) 0.76 3,551
2018-10-01 $224,900 (1.2%) $284,409 (-0.6%) 0.76 3,530
2018-11-01 $219,900 (0.0%) $283,831 (0.0%) 0.75 3,362
2018-12-01 $219,000 (-0.4%) $282,013 (0.3%) 0.76 3,061
2019-01-01 $214,900 (2.4%) $277,063 (-0.2%) 0.74 2,837
2019-02-01 $219,900 (2.6%) $282,059 (0.3%) 0.74 2,759
2019-03-01 $215,614 (-4.2%) $275,046 (-4.0%) 0.71 2,955
2019-04-01 $210,664 (-8.4%) $269,347 (-6.7%) 0.67 3,274
2019-05-01 $215,950 (-8.1%) $272,027 (-7.1%) 0.67 3,385
2019-06-01 $219,900 (-6.4%) $273,723 (-7.3%) 0.69 3,491
2019-07-01 $224,200 (-4.2%) $271,413 (-7.3%) 0.70 3,519
2019-08-01 $218,564 (-4.9%) $269,623 (-6.4%) 0.69 3,510
2019-09-01 $216,559 (-3.8%) $271,663 (-4.6%) 0.69 3,465
2019-10-01 $215,223 (-4.3%) $274,145 (-3.6%) 0.69 3,401
2019-11-01 $235,000 (6.9%) $295,575 (4.1%) 0.77 2,624
2019-12-01 $232,225 (6.0%) $299,037 (6.0%) 0.77 2,357
2020-01-01 $234,125 (9.0%) $299,708 (8.2%) 0.78 2,088
2020-02-01 $243,900 (10.9%) $305,950 (8.5%) 0.80 1,915
2020-03-01 $254,950 (18.2%) $310,425 (12.9%) 0.80 1,917
2020-04-01 $259,175 (23.0%) $317,034 (17.7%) 0.81 1,709
2020-05-01 $259,900 (20.4%) $317,078 (16.6%) 0.79 1,673
2020-06-01 $259,950 (18.2%) $320,906 (17.2%) 0.77 1,689
2020-07-01 $269,700 (20.3%) $331,141 (22.0%) 0.78 1,522
2020-08-01 $272,700 (24.8%) $340,683 (26.4%) 0.78 1,486
2020-09-01 $277,450 (28.1%) $353,416 (30.1%) 0.80 1,449
2020-10-01 $269,900 (25.4%) $352,771 (28.7%) 0.77 1,497
2020-11-01 $270,200 (15.0%) $362,036 (22.5%) 0.79 1,357
2020-12-01 $274,950 (18.4%) $367,300 (22.8%) 0.82 1,206
2021-01-01 $279,000 (19.2%) $382,820 (27.7%) 0.83 998
2021-02-01 $294,925 (20.9%) $395,810 (29.4%) 0.86 874
2021-03-01 $289,675 (13.6%) $392,589 (26.5%) 0.82 909
2021-04-01 $290,175 (12.0%) $389,462 (22.9%) 0.79 1,013
2021-05-01 $299,500 (15.2%) $397,786 (25.5%) 0.80 1,079
2021-06-01 $299,900 (15.4%) $402,094 (25.3%) 0.79 1,215
2021-07-01 $299,000 (10.9%) $397,502 (20.0%) 0.79 1,375
2021-08-01 $299,175 (9.7%) $394,370 (15.8%) 0.80 1,381
2021-09-01 $299,600 (8.0%) $392,757 (11.1%) 0.80 1,364
2021-10-01 $299,000 (10.8%) $388,364 (10.1%) 0.80 1,320
2021-11-01 $299,900 (11.0%) $392,612 (8.5%) 0.80 1,150
2021-12-01 $299,900 (9.1%) $399,077 (8.7%) 0.81 934
2022-01-01 $303,450 (8.8%) $408,336 (6.7%) 0.82 765
2022-02-01 $297,450 (0.9%) $404,566 (2.2%) 0.77 718
2022-03-01 $306,000 (5.6%) $411,959 (4.9%) 0.77 713
2022-04-01 $325,000 (12.0%) $436,835 (12.2%) 0.77 766
2022-05-01 $349,900 (16.8%) $439,250 (10.4%) 0.80 991
2022-06-01 $353,225 (17.8%) $446,289 (11.0%) 0.79 1,155
2022-07-01 $350,000 (17.1%) $433,679 (9.1%) 0.79 1,343
2022-08-01 $354,533 (18.5%) $439,956 (11.6%) 0.82 1,321
2022-09-01 $355,820 (18.8%) $437,065 (11.3%) 0.83 1,271
2022-10-01 $350,000 (17.1%) $441,035 (13.6%) 0.82 1,320
2022-11-01 $351,033 (17.1%) $444,365 (13.2%) 0.84 1,298
2022-12-01 $365,000 (21.7%) $471,309 (18.1%) 0.90 1,104
2023-01-01 $357,450 (17.8%) $468,259 (14.7%) 0.89 971
2023-02-01 $361,950 (21.7%) $467,010 (15.4%) 0.87 864
2023-03-01 $375,000 (22.6%) $470,556 (14.2%) 0.88 797
2023-04-01 $379,900 (16.9%) $490,464 (12.3%) 0.88 822
2023-05-01 $385,000 (10.0%) $497,539 (13.3%) 0.87 879
2023-06-01 $377,450 (6.9%) $487,932 (9.3%) 0.85 959
2023-07-01 $375,000 (7.1%) $491,214 (13.3%) 0.85 959
2023-08-01 $379,900 (7.2%) $483,217 (9.8%) 0.87 1,005
2023-09-01 $379,250 (6.6%) $481,338 (10.1%) 0.88 1,005
2023-10-01 $370,450 (5.8%) $477,050 (8.2%) 0.87 1,051
2023-11-01 $365,000 (4.0%) $483,381 (8.8%) 0.87 1,050
2023-12-01 $369,450 (1.2%) $491,303 (4.2%) 0.90 998
2024-01-01 $369,575 (3.4%) $490,959 (4.9%) 0.90 871
2024-02-01 $369,800 (2.2%) $483,392 (3.5%) 0.89 893
2024-03-01 $389,000 (3.7%) $499,709 (6.2%) 0.92 888
2024-04-01 $387,295 (2.0%) $495,211 (1.0%) 0.90 950
Allentown's median listing price for 2024-04-01 was $387,295, a difference of $7,395 (2.0%) versus the prior year and $-1,705 versus the prior month.

Allentown's median listing price comes in at 90% of the national average.

Allentown's average listing price for 2024-04-01 was $495,211, a difference of $4,747 (1.0%) versus the prior year and $-4,498 versus the prior month.

For the 2024-04-01 period, Allentown had 950 MLS listings, a difference of 62 listings (7%) versus the prior month and 128 listings (16%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Allentown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 84 days 1,824 sqft
2018-02-01 80 days 1,839 sqft
2018-03-01 60 days 1,888 sqft
2018-04-01 54 days 1,899 sqft
2018-05-01 44 days 1,895 sqft
2018-06-01 47 days 1,905 sqft
2018-07-01 52 days 1,898 sqft
2018-08-01 54 days 1,869 sqft
2018-09-01 60 days 1,843 sqft
2018-10-01 65 days 1,833 sqft
2018-11-01 70 days 1,831 sqft
2018-12-01 75 days 1,824 sqft
2019-01-01 82 days 1,810 sqft
2019-02-01 78 days 1,814 sqft
2019-03-01 65 days 1,838 sqft
2019-04-01 53 days 1,886 sqft
2019-05-01 50 days 1,957 sqft
2019-06-01 54 days 1,983 sqft
2019-07-01 59 days 1,987 sqft
2019-08-01 59 days 1,945 sqft
2019-09-01 61 days 1,929 sqft
2019-10-01 63 days 1,932 sqft
2019-11-01 61 days 1,929 sqft
2019-12-01 74 days 1,910 sqft
2020-01-01 81 days 1,902 sqft
2020-02-01 71 days 1,883 sqft
2020-03-01 47 days 1,923 sqft
2020-04-01 62 days 1,937 sqft
2020-05-01 73 days 1,921 sqft
2020-06-01 35 days 1,904 sqft
2020-07-01 31 days 1,884 sqft
2020-08-01 30 days 1,866 sqft
2020-09-01 32 days 1,893 sqft
2020-10-01 31 days 1,842 sqft
2020-11-01 38 days 1,813 sqft
2020-12-01 47 days 1,814 sqft
2021-01-01 57 days 1,820 sqft
2021-02-01 47 days 1,916 sqft
2021-03-01 25 days 1,926 sqft
2021-04-01 22 days 1,936 sqft
2021-05-01 20 days 1,983 sqft
2021-06-01 20 days 1,988 sqft
2021-07-01 24 days 1,927 sqft
2021-08-01 30 days 1,921 sqft
2021-09-01 36 days 1,924 sqft
2021-10-01 37 days 1,896 sqft
2021-11-01 38 days 1,880 sqft
2021-12-01 49 days 1,880 sqft
2022-01-01 47 days 1,920 sqft
2022-02-01 27 days 1,868 sqft
2022-03-01 18 days 1,926 sqft
2022-04-01 16 days 1,978 sqft
2022-05-01 16 days 2,033 sqft
2022-06-01 20 days 2,062 sqft
2022-07-01 26 days 2,016 sqft
2022-08-01 35 days 2,006 sqft
2022-09-01 42 days 2,014 sqft
2022-10-01 39 days 1,986 sqft
2022-11-01 45 days 1,980 sqft
2022-12-01 59 days 2,012 sqft
2023-01-01 60 days 1,981 sqft
2023-02-01 43 days 1,968 sqft
2023-03-01 37 days 1,973 sqft
2023-04-01 31 days 2,000 sqft
2023-05-01 25 days 2,000 sqft
2023-06-01 29 days 1,975 sqft
2023-07-01 30 days 2,005 sqft
2023-08-01 32 days 2,011 sqft
2023-09-01 34 days 1,966 sqft
2023-10-01 36 days 1,944 sqft
2023-11-01 39 days 1,933 sqft
2023-12-01 50 days 1,945 sqft
2024-01-01 52 days 1,947 sqft
2024-02-01 38 days 1,971 sqft
2024-03-01 37 days 1,975 sqft
2024-04-01 30 days 2,001 sqft
Allentown's median listing age (time on market) for 2024-04-01 was 30 days. This is -3% shorter than the same period one year ago.

Allentown's median square footage for active listings during the 2024-04-01 period was 2,001 sqft. One year prior, the average listing was 2,000 sqft.