Lancaster USDA Loans

LANCASTER, PA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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%.

    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 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. Total Fees
    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 $259,900 (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 for 2022-04-01 was $374,900, a difference of $25,450 (7.3%) versus the prior year and $6,450 versus the prior month.

    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. Louis
    Date 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 listing age (time on market) for 2022-04-01 was 37 days. This is 7% longer than the same period one year ago.

    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.