Erie USDA Loan Rates, Closing Costs & Stats

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 8 lenders originated 8 USDA loans during 2023. The total origination value was $1,260,000, with an average USDA loan value of $157,500.

    Erie USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Erie averaged 6.93% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Erie's average USDA mortgage closing costs are $8,775.

    The average rate for the prior week (2024-04-12) was 6.78% and one month ago for the week of 2024-03-15, the average rate was 6.86%.

    The average rate one year ago was 6.5%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

    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/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Erie level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    AFFORDABLE MORTGAGE ADVISORS, LLC. 1 6.63% $4,102
    EQUITY RESOURCES, INC. 1 6.25% $5,316
    Flagstar Bank, FSB 1 7.13% $7,056
    MOVEMENT MORTGAGE, LLC 1 7.25% $5,821
    Northwest Bank 1 7.00% $5,814
    TOWNE MORTGAGE COMPANY 1 6.25% $9,790
    UNION HOME MORTGAGE CORP. 1 7.00% $5,975
    UNITED WHOLESALE MORTGAGE, LLC 1 6.50% $8,680

    The top Erie USDA lender as defined by loan originations is AFFORDABLE MORTGAGE ADVISORS, LLC., with 1 USDA loans originated. Their average total fees are $4,102, which is $1,214 lower than the next largest lender, EQUITY RESOURCES, INC..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Erie (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 $129,900 (8.3%) $190,862 (7.4%) 0.48 1,011
    2018-02-01 $133,250 (11.1%) $191,592 (4.8%) 0.48 947
    2018-03-01 $134,900 (12.0%) $194,171 (5.0%) 0.47 968
    2018-04-01 $139,900 (8.2%) $203,656 (4.2%) 0.47 940
    2018-05-01 $147,363 (15.0%) $206,804 (5.8%) 0.49 984
    2018-06-01 $144,000 (10.8%) $209,543 (4.3%) 0.48 1,042
    2018-07-01 $144,900 (5.0%) $207,969 (2.7%) 0.48 1,089
    2018-08-01 $141,175 (4.6%) $204,465 (2.4%) 0.47 1,122
    2018-09-01 $136,950 (1.4%) $201,985 (1.5%) 0.46 1,162
    2018-10-01 $138,400 (4.7%) $200,402 (2.6%) 0.47 1,137
    2018-11-01 $134,925 (2.9%) $200,125 (2.4%) 0.46 1,078
    2018-12-01 $134,900 (3.8%) $199,376 (3.5%) 0.47 1,005
    2019-01-01 $136,400 (5.0%) $199,894 (4.7%) 0.47 912
    2019-02-01 $139,900 (5.0%) $206,435 (7.8%) 0.47 884
    2019-03-01 $146,400 (8.5%) $210,557 (8.4%) 0.48 871
    2019-04-01 $155,000 (10.8%) $217,173 (6.6%) 0.49 858
    2019-05-01 $161,944 (9.9%) $227,642 (10.1%) 0.51 864
    2019-06-01 $167,950 (16.6%) $229,506 (9.5%) 0.52 897
    2019-07-01 $166,250 (14.7%) $225,689 (8.5%) 0.52 919
    2019-08-01 $159,155 (12.7%) $222,171 (8.7%) 0.50 920
    2019-09-01 $151,136 (10.4%) $216,765 (7.3%) 0.48 909
    2019-10-01 $142,413 (2.9%) $211,858 (5.7%) 0.46 899
    2019-11-01 $140,000 (3.8%) $206,675 (3.3%) 0.46 822
    2019-12-01 $136,775 (1.4%) $205,037 (2.8%) 0.46 732
    2020-01-01 $134,900 (-1.1%) $201,860 (1.0%) 0.45 663
    2020-02-01 $137,999 (-1.4%) $209,083 (1.3%) 0.45 599
    2020-03-01 $145,287 (-0.8%) $221,563 (5.2%) 0.46 537
    2020-04-01 $151,900 (-2.0%) $232,417 (7.0%) 0.48 506
    2020-05-01 $164,800 (1.8%) $236,492 (3.9%) 0.50 500
    2020-06-01 $171,325 (2.0%) $242,633 (5.7%) 0.50 455
    2020-07-01 $167,450 (0.7%) $238,506 (5.7%) 0.49 458
    2020-08-01 $162,900 (2.4%) $234,005 (5.3%) 0.47 419
    2020-09-01 $153,450 (1.5%) $224,339 (3.5%) 0.44 392
    2020-10-01 $139,950 (-1.7%) $214,619 (1.3%) 0.40 408
    2020-11-01 $134,800 (-3.7%) $206,960 (0.1%) 0.39 382
    2020-12-01 $129,900 (-5.0%) $209,033 (2.0%) 0.39 332
    2021-01-01 $135,000 (0.1%) $220,454 (9.2%) 0.40 274
    2021-02-01 $139,175 (0.9%) $222,857 (6.6%) 0.41 217
    2021-03-01 $137,400 (-5.4%) $225,047 (1.6%) 0.39 207
    2021-04-01 $134,900 (-11.2%) $219,258 (-5.7%) 0.37 188
    2021-05-01 $149,900 (-9.0%) $252,874 (6.9%) 0.40 201
    2021-06-01 $162,900 (-4.9%) $270,943 (11.7%) 0.43 263
    2021-07-01 $160,000 (-4.5%) $260,742 (9.3%) 0.42 300
    2021-08-01 $147,400 (-9.5%) $250,343 (7.0%) 0.39 319
    2021-09-01 $149,900 (-2.3%) $247,559 (10.4%) 0.40 319
    2021-10-01 $149,950 (7.2%) $255,610 (19.1%) 0.40 311
    2021-11-01 $139,900 (3.8%) $254,738 (23.1%) 0.37 292
    2021-12-01 $139,900 (7.7%) $278,740 (33.4%) 0.38 278
    2022-01-01 $133,450 (-1.2%) $289,737 (31.4%) 0.36 236
    2022-02-01 $138,725 (-0.3%) $286,784 (28.7%) 0.36 189
    2022-03-01 $167,500 (21.9%) $313,198 (39.2%) 0.42 184
    2022-04-01 $174,950 (29.7%) $304,085 (38.7%) 0.42 196
    2022-05-01 $189,900 (26.7%) $296,170 (17.1%) 0.43 236
    2022-06-01 $185,550 (13.9%) $281,611 (3.9%) 0.41 271
    2022-07-01 $189,450 (18.4%) $275,649 (5.7%) 0.43 293
    2022-08-01 $184,750 (25.3%) $281,288 (12.4%) 0.43 315
    2022-09-01 $188,802 (26.0%) $271,753 (9.8%) 0.44 315
    2022-10-01 $200,000 (33.4%) $283,120 (10.8%) 0.47 299
    2022-11-01 $199,900 (42.9%) $287,172 (12.7%) 0.48 262
    2022-12-01 $192,000 (37.2%) $279,029 (0.1%) 0.47 233
    2023-01-01 $187,872 (40.8%) $278,772 (-3.8%) 0.47 216
    2023-02-01 $182,450 (31.5%) $275,806 (-3.8%) 0.44 182
    2023-03-01 $197,450 (17.9%) $284,830 (-9.1%) 0.47 182
    2023-04-01 $229,950 (31.4%) $319,702 (5.1%) 0.53 173
    2023-05-01 $239,450 (26.1%) $321,004 (8.4%) 0.54 191
    2023-06-01 $229,500 (23.7%) $312,621 (11.0%) 0.52 193
    2023-07-01 $209,900 (10.8%) $306,957 (11.4%) 0.48 231
    2023-08-01 $220,650 (19.4%) $305,594 (8.6%) 0.51 243
    2023-09-01 $222,450 (17.8%) $316,024 (16.3%) 0.52 258
    2023-10-01 $227,000 (13.5%) $313,648 (10.8%) 0.53 277
    2023-11-01 $225,000 (12.6%) $308,312 (7.4%) 0.54 291
    2023-12-01 $215,950 (12.5%) $299,671 (7.4%) 0.53 241
    2024-01-01 $224,950 (19.7%) $305,878 (9.7%) 0.55 227
    2024-02-01 $231,200 (26.7%) $317,788 (15.2%) 0.56 193
    2024-03-01 $264,900 (34.2%) $352,988 (23.9%) 0.62 178
    Erie's median listing price for 2024-03-01 was $264,900, a difference of $67,450 (34.2%) versus the prior year and $33,700 versus the prior month.

    Erie's median listing price comes in at 62% of the national average.

    Erie's average listing price for 2024-03-01 was $352,988, a difference of $68,158 (23.9%) versus the prior year and $35,200 versus the prior month.

    For the 2024-03-01 period, Erie had 178 MLS listings, a difference of -15 listings (-8%) versus the prior month and -4 listings (-2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Erie (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 122 days 1,611 sqft
    2018-02-01 121 days 1,614 sqft
    2018-03-01 107 days 1,613 sqft
    2018-04-01 84 days 1,628 sqft
    2018-05-01 70 days 1,637 sqft
    2018-06-01 61 days 1,621 sqft
    2018-07-01 65 days 1,612 sqft
    2018-08-01 67 days 1,581 sqft
    2018-09-01 68 days 1,600 sqft
    2018-10-01 77 days 1,583 sqft
    2018-11-01 89 days 1,574 sqft
    2018-12-01 102 days 1,560 sqft
    2019-01-01 113 days 1,559 sqft
    2019-02-01 116 days 1,573 sqft
    2019-03-01 104 days 1,600 sqft
    2019-04-01 88 days 1,628 sqft
    2019-05-01 75 days 1,642 sqft
    2019-06-01 72 days 1,683 sqft
    2019-07-01 61 days 1,662 sqft
    2019-08-01 65 days 1,632 sqft
    2019-09-01 72 days 1,623 sqft
    2019-10-01 78 days 1,608 sqft
    2019-11-01 87 days 1,593 sqft
    2019-12-01 103 days 1,568 sqft
    2020-01-01 109 days 1,550 sqft
    2020-02-01 110 days 1,560 sqft
    2020-03-01 91 days 1,586 sqft
    2020-04-01 96 days 1,600 sqft
    2020-05-01 89 days 1,640 sqft
    2020-06-01 66 days 1,657 sqft
    2020-07-01 54 days 1,652 sqft
    2020-08-01 53 days 1,668 sqft
    2020-09-01 54 days 1,555 sqft
    2020-10-01 55 days 1,512 sqft
    2020-11-01 69 days 1,487 sqft
    2020-12-01 78 days 1,472 sqft
    2021-01-01 85 days 1,509 sqft
    2021-02-01 77 days 1,505 sqft
    2021-03-01 51 days 1,491 sqft
    2021-04-01 43 days 1,499 sqft
    2021-05-01 36 days 1,524 sqft
    2021-06-01 32 days 1,570 sqft
    2021-07-01 38 days 1,544 sqft
    2021-08-01 39 days 1,515 sqft
    2021-09-01 51 days 1,554 sqft
    2021-10-01 55 days 1,542 sqft
    2021-11-01 64 days 1,544 sqft
    2021-12-01 70 days 1,561 sqft
    2022-01-01 81 days 1,544 sqft
    2022-02-01 84 days 1,584 sqft
    2022-03-01 67 days 1,641 sqft
    2022-04-01 39 days 1,648 sqft
    2022-05-01 35 days 1,667 sqft
    2022-06-01 34 days 1,618 sqft
    2022-07-01 39 days 1,608 sqft
    2022-08-01 43 days 1,591 sqft
    2022-09-01 46 days 1,657 sqft
    2022-10-01 54 days 1,696 sqft
    2022-11-01 63 days 1,724 sqft
    2022-12-01 74 days 1,696 sqft
    2023-01-01 80 days 1,647 sqft
    2023-02-01 85 days 1,655 sqft
    2023-03-01 55 days 1,653 sqft
    2023-04-01 45 days 1,667 sqft
    2023-05-01 38 days 1,674 sqft
    2023-06-01 40 days 1,660 sqft
    2023-07-01 40 days 1,647 sqft
    2023-08-01 37 days 1,657 sqft
    2023-09-01 44 days 1,650 sqft
    2023-10-01 43 days 1,646 sqft
    2023-11-01 42 days 1,690 sqft
    2023-12-01 61 days 1,649 sqft
    2024-01-01 73 days 1,642 sqft
    2024-02-01 73 days 1,712 sqft
    2024-03-01 50 days 1,745 sqft
    Erie's median listing age (time on market) for 2024-03-01 was 50 days. This is -10% shorter than the same period one year ago.

    Erie's median square footage for active listings during the 2024-03-01 period was 1,745 sqft. One year prior, the average listing was 1,653 sqft.