Lancaster USDA Loans
LANCASTER, PA
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.
Lancaster's 40 lenders originated 139 USDA loans during 2021. The total origination value was $29,475,000, with an average USDA loan value of $212,050.
Lancaster USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Lancaster
averaged
5.4%
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
5.14% and
one month ago for the week of 2022-04-08, the
average rate was 5%.
The average rate one year ago was 3.11%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.23%.
Lancaster 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 Lancaster level.
The top Lancaster USDA lender as defined by loan originations is RESIDENTIAL MORTGAGE SERVICES, INC., with
19 USDA loans originated. Their average total fees are
$6,949, which is $103
lower than the next largest lender,
CROSSCOUNTRY MORTGAGE, LLC.
The lowest fee Lancaster USDA lenders (with over 10 loans originated) are
RESIDENTIAL MORTGAGE SERVICES, INC. ($6,949), CALIBER HOME LOANS, INC. ($6,998), CROSSCOUNTRY MORTGAGE, LLC ($7,052), .
The lowest rate Lancaster USDA lenders (with over 10 loans originated) are
RESIDENTIAL MORTGAGE SERVICES, INC. (2.74%), CALIBER HOME LOANS, INC. (2.95%), CROSSCOUNTRY MORTGAGE, LLC (3.13%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Lancaster (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $259,900 (5.2%) | $296,472 (3.3%) | 0.96 | 1,222 |
2018-02-01 | $269,700 (10.1%) | $307,268 (6.2%) | 0.97 | 1,169 |
2018-03-01 | $274,900 (11.3%) | $315,738 (7.9%) | 0.95 | 1,155 |
2018-04-01 | $269,995 (8.9%) | $310,733 (4.8%) | 0.91 | 1,214 |
2018-05-01 | $275,000 (10.0%) | $316,735 (4.6%) | 0.92 | 1,207 |
2018-06-01 | $275,000 (10.0%) | $317,224 (4.9%) | 0.92 | 1,284 |
2018-07-01 | $275,000 (10.6%) | $320,266 (6.7%) | 0.92 | 1,332 |
2018-08-01 | $274,900 (11.2%) | $321,069 (8.1%) | 0.92 | 1,321 |
2018-09-01 | $274,900 (10.0%) | $321,473 (9.1%) | 0.92 | 1,302 |
2018-10-01 | $272,250 (8.9%) | $322,768 (8.9%) | 0.91 | 1,305 |
2018-11-01 | $269,900 (8.0%) | $320,442 (10.4%) | 0.90 | 1,313 |
2018-12-01 | $274,900 (8.1%) | $323,370 (12.1%) | 0.94 | 1,248 |
2019-01-01 | $276,945 (6.6%) | $325,366 (9.8%) | 0.96 | 1,190 |
2019-02-01 | $279,450 (3.6%) | $327,927 (6.7%) | 0.94 | 1,121 |
2019-03-01 | $287,709 (4.7%) | $335,781 (6.4%) | 0.94 | 1,079 |
2019-04-01 | $295,214 (9.3%) | $343,095 (10.4%) | 0.93 | 1,071 |
2019-05-01 | $292,450 (6.4%) | $341,949 (8.0%) | 0.90 | 1,115 |
2019-06-01 | $289,900 (5.4%) | $346,400 (9.2%) | 0.89 | 1,133 |
2019-07-01 | $288,700 (5.0%) | $347,206 (8.4%) | 0.90 | 1,107 |
2019-08-01 | $288,386 (4.9%) | $349,334 (8.8%) | 0.91 | 1,077 |
2019-09-01 | $293,400 (6.7%) | $353,782 (10.1%) | 0.93 | 1,034 |
2019-10-01 | $291,880 (7.2%) | $349,641 (8.3%) | 0.93 | 1,074 |
2019-11-01 | $294,900 (9.3%) | $347,591 (8.5%) | 0.95 | 1,039 |
2019-12-01 | $299,900 (9.1%) | $354,777 (9.7%) | 1.00 | 898 |
2020-01-01 | $306,682 (10.7%) | $360,352 (10.8%) | 1.02 | 801 |
2020-02-01 | $319,900 (14.5%) | $366,627 (11.8%) | 1.03 | 738 |
2020-03-01 | $320,950 (11.6%) | $374,090 (11.4%) | 1.00 | 716 |
2020-04-01 | $326,250 (10.5%) | $387,280 (12.9%) | 1.02 | 695 |
2020-05-01 | $319,900 (9.4%) | $380,892 (11.4%) | 0.97 | 724 |
2020-06-01 | $319,450 (10.2%) | $377,611 (9.0%) | 0.93 | 743 |
2020-07-01 | $324,400 (12.4%) | $386,333 (11.3%) | 0.93 | 660 |
2020-08-01 | $334,900 (16.1%) | $400,827 (14.7%) | 0.96 | 604 |
2020-09-01 | $328,050 (11.8%) | $395,341 (11.8%) | 0.94 | 570 |
2020-10-01 | $329,900 (13.0%) | $397,666 (13.7%) | 0.94 | 539 |
2020-11-01 | $329,900 (11.9%) | $396,479 (14.1%) | 0.94 | 515 |
2020-12-01 | $332,248 (10.8%) | $389,292 (9.7%) | 0.97 | 482 |
2021-01-01 | $341,900 (11.5%) | $405,680 (12.6%) | 1.01 | 411 |
2021-02-01 | $354,900 (10.9%) | $417,694 (13.9%) | 1.02 | 353 |
2021-03-01 | $350,200 (9.1%) | $412,191 (10.2%) | 0.98 | 356 |
2021-04-01 | $349,450 (7.1%) | $410,653 (6.0%) | 0.94 | 386 |
2021-05-01 | $349,900 (9.4%) | $405,014 (6.3%) | 0.92 | 396 |
2021-06-01 | $322,425 (0.9%) | $386,291 (2.3%) | 0.84 | 464 |
2021-07-01 | $316,200 (-2.5%) | $381,896 (-1.2%) | 0.82 | 453 |
2021-08-01 | $327,700 (-2.2%) | $410,176 (2.3%) | 0.86 | 478 |
2021-09-01 | $320,775 (-2.2%) | $415,484 (5.1%) | 0.84 | 470 |
2021-10-01 | $320,000 (-3.0%) | $412,193 (3.7%) | 0.84 | 467 |
2021-11-01 | $333,370 (1.1%) | $421,756 (6.4%) | 0.88 | 422 |
2021-12-01 | $349,950 (5.3%) | $436,522 (12.1%) | 0.93 | 342 |
2022-01-01 | $369,900 (8.2%) | $484,855 (19.5%) | 0.99 | 250 |
2022-02-01 | $354,950 (0.0%) | $462,765 (10.8%) | 0.90 | 260 |
2022-03-01 | $368,450 (5.2%) | $438,264 (6.3%) | 0.91 | 318 |
2022-04-01 | $374,900 (7.3%) | $452,988 (10.3%) | 0.88 | 328 |
Lancaster's median listing price comes in at 88% of the national average.
Lancaster's average listing price for 2022-04-01 was $452,988, a difference of $42,335 (10.3%) versus the prior year and $14,724 versus the prior month.
For the 2022-04-01 period, Lancaster had 328 MLS listings, a difference of 10 listings (3%) versus the prior month and -58 listings (-15%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Lancaster (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 94 days | 1,870 sqft |
2018-02-01 | 96 days | 1,897 sqft |
2018-03-01 | 78 days | 1,918 sqft |
2018-04-01 | 65 days | 1,898 sqft |
2018-05-01 | 65 days | 1,899 sqft |
2018-06-01 | 53 days | 2,056 sqft |
2018-07-01 | 54 days | 2,046 sqft |
2018-08-01 | 62 days | 2,032 sqft |
2018-09-01 | 68 days | 2,054 sqft |
2018-10-01 | 66 days | 2,002 sqft |
2018-11-01 | 65 days | 1,993 sqft |
2018-12-01 | 78 days | 1,975 sqft |
2019-01-01 | 80 days | 1,953 sqft |
2019-02-01 | 80 days | 1,965 sqft |
2019-03-01 | 72 days | 2,018 sqft |
2019-04-01 | 51 days | 2,084 sqft |
2019-05-01 | 46 days | 2,081 sqft |
2019-06-01 | 51 days | 2,057 sqft |
2019-07-01 | 53 days | 2,035 sqft |
2019-08-01 | 53 days | 2,033 sqft |
2019-09-01 | 52 days | 2,059 sqft |
2019-10-01 | 51 days | 2,062 sqft |
2019-11-01 | 60 days | 2,042 sqft |
2019-12-01 | 77 days | 2,050 sqft |
2020-01-01 | 85 days | 2,118 sqft |
2020-02-01 | 85 days | 2,183 sqft |
2020-03-01 | 60 days | 2,140 sqft |
2020-04-01 | 77 days | 2,160 sqft |
2020-05-01 | 78 days | 2,125 sqft |
2020-06-01 | 47 days | 2,150 sqft |
2020-07-01 | 42 days | 2,172 sqft |
2020-08-01 | 46 days | 2,210 sqft |
2020-09-01 | 49 days | 2,122 sqft |
2020-10-01 | 52 days | 2,100 sqft |
2020-11-01 | 51 days | 2,100 sqft |
2020-12-01 | 59 days | 2,018 sqft |
2021-01-01 | 67 days | 2,060 sqft |
2021-02-01 | 68 days | 2,096 sqft |
2021-03-01 | 52 days | 2,100 sqft |
2021-04-01 | 35 days | 2,076 sqft |
2021-05-01 | 35 days | 2,046 sqft |
2021-06-01 | 39 days | 1,904 sqft |
2021-07-01 | 45 days | 1,930 sqft |
2021-08-01 | 41 days | 1,974 sqft |
2021-09-01 | 45 days | 1,922 sqft |
2021-10-01 | 46 days | 1,948 sqft |
2021-11-01 | 47 days | 1,908 sqft |
2021-12-01 | 58 days | 1,908 sqft |
2022-01-01 | 61 days | 1,971 sqft |
2022-02-01 | 43 days | 1,952 sqft |
2022-03-01 | 34 days | 1,912 sqft |
2022-04-01 | 37 days | 1,955 sqft |
Lancaster's median square footage for active listings during the 2022-04-01 period was 1,955 sqft. One year prior, the average listing was 2,076 sqft.