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 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.