Lancaster USDA Loan Rates, Closing Costs & Stats

LANCASTER, 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.

    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 -0.19% for the week of 2022-11-25, compared to the national average (all USDA variants) of 0% for the same period.

    Lancaster's average USDA mortgage closing costs are $5,983.

    The average rate for the prior week (2022-11-18) was 6.66% and one month ago for the week of 2022-10-21, the average rate was 6.67%.

    The average rate one year ago was 3.51%.

    For refis of the same type during the week of 2022-11-25, the average rate was 0.04%.

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

    Lancaster 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 Lancaster level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    RESIDENTIAL MORTGAGE SERVICES, INC. 19 2.74% $6,949
    CROSSCOUNTRY MORTGAGE, LLC 12 3.13% $7,052
    CALIBER HOME LOANS, INC. 11 2.95% $6,998
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 8 2.86% $4,922
    BROKER SOLUTIONS, INC. 7 2.94% $7,274
    Sierra Pacific Mortgage Company, Inc. 7 2.55% $6,290
    GUILD MORTGAGE COMPANY 6 3.13% $6,212
    UNION HOME MORTGAGE CORP. 5 2.90% $8,492
    Citizens Bank 5 2.88% $7,095
    EMM LOANS LLC 5 2.68% $6,730
    Flagstar Bank, FSB 4 2.97% $6,389
    Homesale Mortgage, LLC 3 3.33% $5,749
    Meridian Bank Corporation 3 2.88% $8,426
    Keystone Funding, Inc. 3 2.67% $9,447
    HOME POINT FINANCIAL CORPORATION 3 2.46% $5,919
    AmRes Corporation 2 3.00% $6,462
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 2.88% $8,091
    Fulton Bank 2 2.69% $6,748
    GUARANTEED RATE AFFINITY, LLC 2 3.13% $6,669
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.63% $8,204
    Mid Penn Bank 2 3.19% $6,045
    Mortgage America, Inc. 2 2.69% $6,342
    Mortgage Network, Inc. 2 2.56% $6,203
    MOVEMENT MORTGAGE, LLC 2 2.25% $5,076
    PENNYMAC LOAN SERVICES, LLC 2 3.06% $5,784
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 2.75% $7,289
    Evesham Mortgage, LLC 1 3.25% $7,138
    CMG MORTGAGE, INC. 1 2.75% $5,260
    THRIVE MORTGAGE, LLC 1 2.38% $7,456
    NEWREZ LLC 1 2.88% $7,649
    Northpointe Bank 1 2.75% $5,353
    Paramount Residential Mortgage Group, Inc. 1 2.50% $9,934
    Bank of England 1 2.75% $1,708
    PNC Bank 1 3.13% $4,351
    GUARANTEED RATE, INC. 1 2.88% $7,313
    HOMESPIRE MORTGAGE CORPORATION 1 2.88% $6,927
    First Guaranty Mortgage Corporation 1 2.75% $5,549
    LOANDEPOT.COM, LLC 1 3.38% $7,558
    FINANCE OF AMERICA MORTGAGE LLC 1 2.75% $6,254
    York Traditions Bank 1 3.00% $5,735

    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. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $259,675 (6.0%) $295,872 (5.1%) 0.96 1,191
    2018-02-01 $266,774 (10.7%) $306,750 (7.5%) 0.97 1,133
    2018-03-01 $273,129 (11.5%) $315,267 (8.8%) 0.96 1,126
    2018-04-01 $269,900 (8.9%) $311,444 (5.0%) 0.92 1,185
    2018-05-01 $274,425 (9.8%) $316,638 (5.2%) 0.92 1,181
    2018-06-01 $272,900 (9.2%) $316,249 (5.7%) 0.91 1,271
    2018-07-01 $274,900 (12.2%) $318,786 (8.2%) 0.92 1,320
    2018-08-01 $270,618 (10.1%) $320,008 (9.6%) 0.91 1,315
    2018-09-01 $271,250 (9.6%) $320,723 (10.3%) 0.91 1,298
    2018-10-01 $269,900 (8.0%) $323,273 (10.3%) 0.91 1,307
    2018-11-01 $269,900 (9.9%) $321,102 (13.6%) 0.91 1,299
    2018-12-01 $274,900 (10.0%) $323,735 (12.5%) 0.95 1,242
    2019-01-01 $274,998 (5.9%) $325,580 (10.0%) 0.95 1,190
    2019-02-01 $278,945 (4.6%) $329,516 (7.4%) 0.94 1,123
    2019-03-01 $287,850 (5.4%) $337,578 (7.1%) 0.94 1,090
    2019-04-01 $295,400 (9.5%) $345,552 (11.0%) 0.94 1,092
    2019-05-01 $289,950 (5.7%) $342,508 (8.2%) 0.91 1,124
    2019-06-01 $289,900 (6.2%) $346,211 (9.5%) 0.91 1,135
    2019-07-01 $287,173 (4.5%) $347,045 (8.9%) 0.90 1,102
    2019-08-01 $286,264 (5.8%) $347,749 (8.7%) 0.91 1,087
    2019-09-01 $288,309 (6.3%) $348,064 (8.5%) 0.92 1,079
    2019-10-01 $289,900 (7.4%) $348,044 (7.7%) 0.94 1,073
    2019-11-01 $289,999 (7.5%) $345,468 (7.6%) 0.95 1,026
    2019-12-01 $297,000 (8.0%) $352,363 (8.8%) 0.99 896
    2020-01-01 $305,425 (11.1%) $359,679 (10.5%) 1.02 799
    2020-02-01 $319,000 (14.4%) $365,875 (11.0%) 1.04 749
    2020-03-01 $319,950 (11.2%) $373,478 (10.6%) 1.00 722
    2020-04-01 $325,000 (10.0%) $387,870 (12.3%) 1.02 690
    2020-05-01 $319,000 (10.0%) $380,928 (11.2%) 0.97 723
    2020-06-01 $318,495 (9.9%) $377,644 (9.1%) 0.94 744
    2020-07-01 $320,450 (11.6%) $384,140 (10.7%) 0.93 662
    2020-08-01 $333,825 (16.6%) $400,176 (15.1%) 0.96 608
    2020-09-01 $325,600 (12.9%) $393,389 (13.0%) 0.93 578
    2020-10-01 $325,000 (12.1%) $394,092 (13.2%) 0.93 546
    2020-11-01 $328,975 (13.4%) $392,617 (13.7%) 0.96 516
    2020-12-01 $329,950 (11.1%) $387,226 (9.9%) 0.98 486
    2021-01-01 $342,900 (12.3%) $398,591 (10.8%) 1.02 419
    2021-02-01 $353,775 (10.9%) $415,511 (13.6%) 1.03 359
    2021-03-01 $349,900 (9.4%) $406,618 (8.9%) 0.99 365
    2021-04-01 $349,369 (7.5%) $410,171 (5.8%) 0.95 391
    2021-05-01 $350,000 (9.7%) $408,314 (7.2%) 0.93 407
    2021-06-01 $322,450 (1.2%) $388,913 (3.0%) 0.85 470
    2021-07-01 $316,800 (-1.1%) $381,845 (-0.6%) 0.83 466
    2021-08-01 $328,950 (-1.5%) $413,429 (3.3%) 0.88 485
    2021-09-01 $320,438 (-1.6%) $419,560 (6.7%) 0.85 473
    2021-10-01 $320,000 (-1.5%) $414,773 (5.3%) 0.85 473
    2021-11-01 $329,950 (0.3%) $423,241 (7.8%) 0.88 427
    2021-12-01 $349,900 (6.1%) $438,890 (13.3%) 0.95 348
    2022-01-01 $369,900 (7.9%) $490,425 (23.0%) 1.00 255
    2022-02-01 $354,924 (0.3%) $469,170 (12.9%) 0.92 265
    2022-03-01 $358,725 (2.5%) $437,146 (7.5%) 0.90 326
    2022-04-01 $374,900 (7.3%) $451,260 (10.0%) 0.89 340
    2022-05-01 $379,900 (8.5%) $466,874 (14.3%) 0.87 378
    2022-06-01 $360,450 (11.8%) $451,356 (16.1%) 0.80 454
    2022-07-01 $359,950 (13.6%) $452,297 (18.5%) 0.81 477
    2022-08-01 $359,975 (9.4%) $455,915 (10.3%) 0.83 462
    2022-09-01 $344,700 (7.6%) $443,872 (5.8%) 0.81 432
    2022-10-01 $379,000 (18.4%) $467,298 (12.7%) 0.89 435
    Lancaster's median listing price for 2022-10-01 was $379,000, a difference of $59,000 (18.4%) versus the prior year and $34,300 versus the prior month.

    Lancaster's median listing price comes in at 89% of the national average.

    Lancaster's average listing price for 2022-10-01 was $467,298, a difference of $52,525 (12.7%) versus the prior year and $23,426 versus the prior month.

    For the 2022-10-01 period, Lancaster had 435 MLS listings, a difference of 3 listings (1%) versus the prior month and -38 listings (-8%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lancaster (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 94 days 1,861 sqft
    2018-02-01 97 days 1,892 sqft
    2018-03-01 78 days 1,917 sqft
    2018-04-01 65 days 1,897 sqft
    2018-05-01 65 days 1,897 sqft
    2018-06-01 53 days 2,044 sqft
    2018-07-01 54 days 2,039 sqft
    2018-08-01 62 days 2,029 sqft
    2018-09-01 68 days 2,041 sqft
    2018-10-01 66 days 1,993 sqft
    2018-11-01 66 days 1,985 sqft
    2018-12-01 78 days 1,970 sqft
    2019-01-01 81 days 1,942 sqft
    2019-02-01 81 days 1,958 sqft
    2019-03-01 71 days 2,014 sqft
    2019-04-01 51 days 2,084 sqft
    2019-05-01 46 days 2,067 sqft
    2019-06-01 51 days 2,045 sqft
    2019-07-01 54 days 2,030 sqft
    2019-08-01 53 days 2,033 sqft
    2019-09-01 52 days 2,048 sqft
    2019-10-01 52 days 2,058 sqft
    2019-11-01 61 days 2,039 sqft
    2019-12-01 77 days 2,045 sqft
    2020-01-01 85 days 2,104 sqft
    2020-02-01 86 days 2,158 sqft
    2020-03-01 60 days 2,137 sqft
    2020-04-01 81 days 2,145 sqft
    2020-05-01 78 days 2,120 sqft
    2020-06-01 47 days 2,145 sqft
    2020-07-01 42 days 2,157 sqft
    2020-08-01 46 days 2,197 sqft
    2020-09-01 50 days 2,119 sqft
    2020-10-01 56 days 2,046 sqft
    2020-11-01 53 days 2,089 sqft
    2020-12-01 58 days 2,018 sqft
    2021-01-01 64 days 2,061 sqft
    2021-02-01 69 days 2,112 sqft
    2021-03-01 50 days 2,084 sqft
    2021-04-01 32 days 2,073 sqft
    2021-05-01 35 days 2,044 sqft
    2021-06-01 39 days 1,907 sqft
    2021-07-01 43 days 1,927 sqft
    2021-08-01 41 days 1,978 sqft
    2021-09-01 44 days 1,924 sqft
    2021-10-01 45 days 1,958 sqft
    2021-11-01 47 days 1,925 sqft
    2021-12-01 58 days 1,920 sqft
    2022-01-01 58 days 1,972 sqft
    2022-02-01 42 days 1,951 sqft
    2022-03-01 32 days 1,916 sqft
    2022-04-01 36 days 1,971 sqft
    2022-05-01 35 days 1,996 sqft
    2022-06-01 35 days 1,963 sqft
    2022-07-01 36 days 1,968 sqft
    2022-08-01 39 days 1,969 sqft
    2022-09-01 43 days 1,901 sqft
    2022-10-01 39 days 1,968 sqft
    Lancaster's median listing age (time on market) for 2022-10-01 was 39 days. This is -13% shorter than the same period one year ago.

    Lancaster's median square footage for active listings during the 2022-10-01 period was 1,968 sqft. One year prior, the average listing was 1,958 sqft.