Erie USDA Loans

ERIE, PA

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    • 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.

    Erie's 13 lenders originated 32 USDA loans during 2021. The total origination value was $4,370,000, with an average USDA loan value of $136,563.

    Erie USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Erie averaged 5.21% for the week of 2022-05-13, compared to the national average (all USDA variants) of 5.294% for the same period.

    The average rate for the prior week (2022-05-06) was 5.34% and one month ago for the week of 2022-04-08, the average rate was 5.1%.

    The average rate one year ago was 2.91%.

    For refis of the same type during the week of 2022-05-13, the average rate was 5.21%.

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

    Erie USDA Loan Lenders by Rates & Fees

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

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    AFFORDABLE MORTGAGE ADVISORS, LLC. 7 2.88% $5,009
    Flagstar Bank, FSB 4 2.69% $5,676
    HOME POINT FINANCIAL CORPORATION 3 2.63% $5,237
    MOVEMENT MORTGAGE, LLC 3 3.08% $5,897
    HOWARD HANNA FINANCIAL SERVICES, INC. 2 2.81% $5,467
    Citizens Bank 2 3.25% $4,236
    First Guaranty Mortgage Corporation 2 2.56% $6,704
    Northwest Bank 2 2.69% $4,758
    PLAZA HOME MORTGAGE, INC. 2 3.13% $7,691
    TIDEWATER MORTGAGE SERVICES, INC. 2 2.81% $5,235
    MICHIGAN MUTUAL, INC. 1 3.00% $5,621
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 3.13% $5,881
    UNION HOME MORTGAGE CORP. 1 2.25% $4,651

    The top Erie USDA lender as defined by loan originations is AFFORDABLE MORTGAGE ADVISORS, LLC., with 7 USDA loans originated. Their average total fees are $5,009, which is $668 lower than the next largest lender, Flagstar Bank, FSB.

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

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