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 4 lenders originated 7 USDA loans during 2024. The total origination value was $1,015,000, with an average USDA loan value of $145,000.

    Erie USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Erie averaged 0.13% for the week of 2025-07-04, compared to the national average (all USDA variants) of 0% for the same period.

    Erie's average USDA mortgage closing costs are $8,643.

    The average rate for the prior week (2025-06-27) was 6.47% and one month ago for the week of 2025-05-30, the average rate was 6.85%.

    The average rate one year ago was 6.75%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.07%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Flagstar Bank, FSB 2 6.31% $6,517
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 6.94% $3,934
    First Commonwealth Bank 1 6.63% $6,385
    JMAC LENDING, INC. 1 6.38% $4,855

    The top Erie USDA lender as defined by loan originations is Flagstar Bank, FSB, with 2 USDA loans originated. Their average total fees are $6,517, which is $2,583 higher than the next largest lender, SOUTHPOINT FINANCIAL SERVICES, 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 .