Lancaster USDA Loan Rates, Closing Costs & Stats

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 11 lenders originated 15 USDA loans during 2023. The total origination value was $3,365,000, with an average USDA loan value of $224,333.

Lancaster USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Lancaster averaged 6.69% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

Lancaster's average USDA mortgage closing costs are $6,117.

The average rate for the prior week (2024-05-31) was 6.87% and one month ago for the week of 2024-05-03, the average rate was 6.76%.

The average rate one year ago was 6.56%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.82%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 3 5.91% $7,902
GUILD MORTGAGE COMPANY 2 6.00% $8,924
BROKER SOLUTIONS, INC. 2 6.75% $7,186
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $6,931
Fulton Bank 1 7.50% $4,790
Citizens Bank 1 6.88% $9,192
Meridian Bank Corporation 1 6.50% $12,135
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $9,846
The Ephrata National Bank 1 6.25% $9,357
UNION HOME MORTGAGE CORP. 1 5.75% $12,414
CROSSCOUNTRY MORTGAGE, LLC 1 6.38% $6,728

The top Lancaster USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 3 USDA loans originated. Their average total fees are $7,902, which is $1,022 lower than the next largest lender, GUILD MORTGAGE COMPANY.

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

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


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 $259,800 (6.0%) $296,089 (5.1%) 0.96 1,191
2018-02-01 $267,073 (10.8%) $306,972 (7.5%) 0.97 1,133
2018-03-01 $273,679 (11.7%) $315,487 (8.8%) 0.96 1,126
2018-04-01 $269,900 (8.9%) $311,649 (5.1%) 0.92 1,185
2018-05-01 $274,845 (10.0%) $316,846 (5.3%) 0.92 1,181
2018-06-01 $272,977 (9.3%) $316,444 (5.8%) 0.91 1,271
2018-07-01 $274,900 (12.2%) $318,976 (8.2%) 0.92 1,320
2018-08-01 $271,350 (10.4%) $320,200 (9.6%) 0.91 1,315
2018-09-01 $272,700 (10.2%) $320,918 (10.3%) 0.92 1,298
2018-10-01 $269,900 (8.0%) $323,464 (10.4%) 0.91 1,307
2018-11-01 $269,900 (9.9%) $321,295 (13.7%) 0.91 1,299
2018-12-01 $274,900 (10.0%) $323,928 (12.5%) 0.95 1,242
2019-01-01 $275,000 (5.9%) $325,801 (10.0%) 0.95 1,190
2019-02-01 $278,948 (4.5%) $329,752 (7.4%) 0.94 1,123
2019-03-01 $288,043 (5.3%) $337,760 (7.1%) 0.94 1,090
2019-04-01 $296,093 (9.7%) $345,658 (10.9%) 0.94 1,090
2019-05-01 $291,973 (6.2%) $343,061 (8.3%) 0.91 1,120
2019-06-01 $289,900 (6.2%) $346,786 (9.6%) 0.91 1,130
2019-07-01 $287,725 (4.7%) $347,633 (9.0%) 0.90 1,097
2019-08-01 $286,682 (5.7%) $348,345 (8.8%) 0.91 1,083
2019-09-01 $289,356 (6.1%) $348,673 (8.7%) 0.93 1,075
2019-10-01 $290,420 (7.6%) $348,656 (7.8%) 0.94 1,069
2019-11-01 $290,000 (7.5%) $346,118 (7.7%) 0.95 1,021
2019-12-01 $298,316 (8.5%) $353,435 (9.1%) 0.99 891
2020-01-01 $306,445 (11.4%) $360,929 (10.8%) 1.02 794
2020-02-01 $319,900 (14.7%) $367,223 (11.4%) 1.05 744
2020-03-01 $320,200 (11.2%) $374,686 (10.9%) 1.00 718
2020-04-01 $326,250 (10.2%) $389,335 (12.6%) 1.02 686
2020-05-01 $319,900 (9.6%) $382,250 (11.4%) 0.97 719
2020-06-01 $319,900 (10.4%) $378,803 (9.2%) 0.94 740
2020-07-01 $320,950 (11.6%) $385,764 (11.0%) 0.93 657
2020-08-01 $334,900 (16.8%) $401,694 (15.3%) 0.96 603
2020-09-01 $327,095 (13.0%) $395,202 (13.3%) 0.94 574
2020-10-01 $326,000 (12.3%) $395,735 (13.5%) 0.93 542
2020-11-01 $329,900 (13.8%) $394,365 (13.9%) 0.96 512
2020-12-01 $331,400 (11.1%) $388,988 (10.1%) 0.99 482
2021-01-01 $344,900 (12.6%) $400,804 (11.1%) 1.03 415
2021-02-01 $354,948 (11.0%) $418,382 (13.9%) 1.03 355
2021-03-01 $350,000 (9.3%) $409,277 (9.2%) 0.99 361
2021-04-01 $349,900 (7.3%) $412,695 (6.0%) 0.95 387
2021-05-01 $350,000 (9.4%) $410,742 (7.5%) 0.93 403
2021-06-01 $323,750 (1.2%) $390,538 (3.1%) 0.85 466
2021-07-01 $319,900 (-0.3%) $383,547 (-0.6%) 0.84 463
2021-08-01 $329,204 (-1.7%) $415,139 (3.4%) 0.88 482
2021-09-01 $323,725 (-1.0%) $421,584 (6.7%) 0.86 469
2021-10-01 $322,000 (-1.2%) $416,637 (5.3%) 0.86 469
2021-11-01 $333,370 (1.1%) $425,534 (7.9%) 0.89 424
2021-12-01 $349,900 (5.6%) $441,724 (13.6%) 0.95 345
2022-01-01 $369,900 (7.3%) $495,422 (23.6%) 1.00 251
2022-02-01 $355,000 (0.0%) $473,439 (13.2%) 0.92 261
2022-03-01 $368,200 (5.2%) $440,737 (7.7%) 0.92 322
2022-04-01 $374,998 (7.2%) $454,485 (10.1%) 0.89 336
2022-05-01 $379,950 (8.6%) $469,875 (14.4%) 0.87 374
2022-06-01 $365,625 (12.9%) $453,750 (16.2%) 0.81 450
2022-07-01 $364,900 (14.1%) $454,661 (18.5%) 0.82 473
2022-08-01 $366,443 (11.3%) $458,517 (10.5%) 0.85 458
2022-09-01 $346,366 (7.0%) $446,199 (5.8%) 0.81 428
2022-10-01 $379,900 (18.0%) $470,063 (12.8%) 0.89 431
2022-11-01 $388,725 (16.6%) $476,175 (11.9%) 0.93 442
2022-12-01 $395,000 (12.9%) $472,056 (6.9%) 0.98 390
2023-01-01 $399,950 (8.1%) $479,141 (-3.3%) 0.99 379
2023-02-01 $422,450 (19.0%) $493,382 (4.2%) 1.02 352
2023-03-01 $428,725 (16.4%) $492,351 (11.7%) 1.01 370
2023-04-01 $399,900 (6.6%) $484,721 (6.7%) 0.93 327
2023-05-01 $399,925 (5.3%) $470,852 (0.2%) 0.91 352
2023-06-01 $398,725 (9.1%) $465,966 (2.7%) 0.90 357
2023-07-01 $399,000 (9.4%) $472,372 (3.9%) 0.91 352
2023-08-01 $395,750 (8.0%) $470,996 (2.7%) 0.91 363
2023-09-01 $399,000 (15.2%) $471,268 (5.6%) 0.93 368
2023-10-01 $375,000 (-1.3%) $464,265 (-1.2%) 0.88 431
2023-11-01 $399,900 (2.9%) $484,366 (1.7%) 0.95 408
2023-12-01 $411,157 (4.1%) $500,049 (5.9%) 1.00 368
2024-01-01 $429,900 (7.5%) $494,847 (3.3%) 1.05 332
2024-02-01 $420,250 (-0.5%) $495,608 (0.5%) 1.01 314
2024-03-01 $419,950 (-2.1%) $502,502 (2.1%) 0.99 298
2024-04-01 $423,725 (6.0%) $492,422 (1.6%) 0.99 374
2024-05-01 $444,836 (11.2%) $513,767 (9.1%) 1.01 374
Lancaster's median listing price for 2024-05-01 was $444,836, a difference of $44,911 (11.2%) versus the prior year and $21,111 versus the prior month.

Lancaster's median listing price comes in at 101% of the national average.

Lancaster's average listing price for 2024-05-01 was $513,767, a difference of $42,915 (9.1%) versus the prior year and $21,345 versus the prior month.

For the 2024-05-01 period, Lancaster had 374 MLS listings, a difference of 0 listings (0%) versus the prior month and 22 listings (6%) 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 86 days 1,864 sqft
2018-02-01 84 days 1,895 sqft
2018-03-01 64 days 1,917 sqft
2018-04-01 54 days 1,900 sqft
2018-05-01 53 days 1,897 sqft
2018-06-01 46 days 2,043 sqft
2018-07-01 47 days 2,038 sqft
2018-08-01 54 days 2,028 sqft
2018-09-01 58 days 2,040 sqft
2018-10-01 56 days 1,993 sqft
2018-11-01 54 days 1,985 sqft
2018-12-01 69 days 1,970 sqft
2019-01-01 71 days 1,942 sqft
2019-02-01 72 days 1,958 sqft
2019-03-01 61 days 2,013 sqft
2019-04-01 44 days 2,083 sqft
2019-05-01 40 days 2,067 sqft
2019-06-01 45 days 2,046 sqft
2019-07-01 46 days 2,030 sqft
2019-08-01 45 days 2,033 sqft
2019-09-01 45 days 2,048 sqft
2019-10-01 44 days 2,058 sqft
2019-11-01 53 days 2,040 sqft
2019-12-01 65 days 2,049 sqft
2020-01-01 71 days 2,110 sqft
2020-02-01 67 days 2,160 sqft
2020-03-01 42 days 2,140 sqft
2020-04-01 61 days 2,150 sqft
2020-05-01 68 days 2,122 sqft
2020-06-01 36 days 2,146 sqft
2020-07-01 34 days 2,161 sqft
2020-08-01 37 days 2,208 sqft
2020-09-01 37 days 2,121 sqft
2020-10-01 43 days 2,054 sqft
2020-11-01 45 days 2,093 sqft
2020-12-01 51 days 2,019 sqft
2021-01-01 52 days 2,064 sqft
2021-02-01 52 days 2,113 sqft
2021-03-01 39 days 2,088 sqft
2021-04-01 26 days 2,075 sqft
2021-05-01 29 days 2,051 sqft
2021-06-01 35 days 1,910 sqft
2021-07-01 39 days 1,927 sqft
2021-08-01 37 days 1,982 sqft
2021-09-01 42 days 1,925 sqft
2021-10-01 40 days 1,968 sqft
2021-11-01 43 days 1,932 sqft
2021-12-01 50 days 1,924 sqft
2022-01-01 48 days 1,975 sqft
2022-02-01 30 days 1,955 sqft
2022-03-01 26 days 1,918 sqft
2022-04-01 33 days 1,976 sqft
2022-05-01 30 days 2,000 sqft
2022-06-01 30 days 1,970 sqft
2022-07-01 32 days 1,970 sqft
2022-08-01 36 days 1,972 sqft
2022-09-01 41 days 1,911 sqft
2022-10-01 37 days 1,969 sqft
2022-11-01 42 days 2,013 sqft
2022-12-01 50 days 1,974 sqft
2023-01-01 54 days 1,945 sqft
2023-02-01 49 days 1,972 sqft
2023-03-01 41 days 1,982 sqft
2023-04-01 34 days 2,043 sqft
2023-05-01 29 days 2,017 sqft
2023-06-01 31 days 2,052 sqft
2023-07-01 34 days 2,055 sqft
2023-08-01 31 days 1,934 sqft
2023-09-01 31 days 1,920 sqft
2023-10-01 30 days 1,924 sqft
2023-11-01 34 days 1,947 sqft
2023-12-01 42 days 1,960 sqft
2024-01-01 47 days 1,941 sqft
2024-02-01 39 days 1,981 sqft
2024-03-01 37 days 1,907 sqft
2024-04-01 29 days 1,918 sqft
2024-05-01 29 days 1,988 sqft
Lancaster's median listing age (time on market) for 2024-05-01 was 29 days. This is 2% longer than the same period one year ago.

Lancaster's median square footage for active listings during the 2024-05-01 period was 1,988 sqft. One year prior, the average listing was 2,017 sqft.