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 19 lenders originated 37 USDA loans during 2022. The total origination value was $7,995,000, with an average USDA loan value of $216,081.
Lancaster USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Lancaster
averaged
6.32%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
Lancaster's average USDA mortgage closing costs are $6,077.
The average rate for the prior week (2023-05-19) was
6.06% and
one month ago for the week of 2023-04-21, the
average rate was 5.87%.
The average rate one year ago was 4.79%.
For refis of the same type during the week of 2023-05-26, the average rate
was 5.37%.
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 | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
|---|---|---|---|
| GUILD MORTGAGE COMPANY | 6 | 4.97% | $6,649 |
| BROKER SOLUTIONS, INC. | 4 | 5.56% | $10,127 |
| UNITED WHOLESALE MORTGAGE, LLC | 3 | 4.92% | $10,722 |
| FINANCE OF AMERICA MORTGAGE LLC | 2 | 5.25% | $6,386 |
| Mid Penn Bank | 2 | 3.06% | $7,157 |
| CALIBER HOME LOANS, INC. | 2 | 4.94% | $11,051 |
| CROSSCOUNTRY MORTGAGE, LLC | 2 | 5.19% | $7,582 |
| Meridian Bank Corporation | 2 | 4.19% | $7,511 |
| Sierra Pacific Mortgage Company, Inc. | 2 | 5.13% | $7,491 |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | 1 | 4.88% | $9,301 |
| Mortgage America, Inc. | 1 | 5.88% | $8,774 |
| Northpointe Bank | 1 | 2.88% | $6,644 |
| Northwest Bank | 1 | 4.00% | $10,208 |
| Paramount Residential Mortgage Group, Inc. | 1 | 5.75% | $11,835 |
| PNC Bank | 1 | 5.13% | $7,022 |
| Univest Bank and Trust Co. | 1 | 4.75% | $9,196 |
| TIDEWATER MORTGAGE SERVICES, INC. | 1 | 5.63% | $6,166 |
| HOME POINT FINANCIAL CORPORATION | 1 | 6.13% | $10,003 |
| Fulton Bank | 1 | 3.50% | $6,670 |
The top Lancaster USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with
6 USDA loans originated. Their average total fees are
$6,649, which is $3,478
lower than the next largest lender,
BROKER SOLUTIONS, INC..
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 | $259,700 (6.0%) | $296,078 (5.2%) | 0.96 | 1,190 |
| 2018-02-01 | $266,900 (10.8%) | $306,970 (7.6%) | 0.97 | 1,132 |
| 2018-03-01 | $273,358 (11.6%) | $315,492 (8.9%) | 0.96 | 1,125 |
| 2018-04-01 | $269,900 (8.9%) | $311,650 (5.1%) | 0.92 | 1,184 |
| 2018-05-01 | $274,728 (9.9%) | $316,851 (5.3%) | 0.92 | 1,180 |
| 2018-06-01 | $272,900 (9.2%) | $316,449 (5.8%) | 0.91 | 1,270 |
| 2018-07-01 | $274,900 (12.2%) | $318,983 (8.3%) | 0.92 | 1,319 |
| 2018-08-01 | $271,248 (10.4%) | $320,207 (9.7%) | 0.91 | 1,314 |
| 2018-09-01 | $272,500 (10.1%) | $320,926 (10.5%) | 0.92 | 1,297 |
| 2018-10-01 | $269,900 (8.0%) | $323,473 (10.4%) | 0.91 | 1,306 |
| 2018-11-01 | $269,900 (9.9%) | $321,303 (13.7%) | 0.91 | 1,298 |
| 2018-12-01 | $274,900 (10.0%) | $323,939 (12.5%) | 0.95 | 1,241 |
| 2019-01-01 | $275,000 (5.9%) | $325,806 (10.0%) | 0.95 | 1,189 |
| 2019-02-01 | $278,945 (4.5%) | $329,761 (7.4%) | 0.94 | 1,122 |
| 2019-03-01 | $285,000 (4.3%) | $334,817 (6.1%) | 0.95 | 1,084 |
| 2019-04-01 | $295,000 (9.3%) | $345,090 (10.7%) | 0.94 | 1,081 |
| 2019-05-01 | $289,950 (5.5%) | $342,505 (8.1%) | 0.91 | 1,116 |
| 2019-06-01 | $289,900 (6.2%) | $346,231 (9.4%) | 0.91 | 1,127 |
| 2019-07-01 | $287,173 (4.5%) | $347,072 (8.8%) | 0.90 | 1,094 |
| 2019-08-01 | $289,900 (6.9%) | $352,288 (10.0%) | 0.91 | 1,108 |
| 2019-09-01 | $306,250 (12.4%) | $370,415 (15.4%) | 0.97 | 949 |
| 2019-10-01 | $289,900 (7.4%) | $348,110 (7.6%) | 0.94 | 1,068 |
| 2019-11-01 | $289,999 (7.5%) | $345,481 (7.5%) | 0.95 | 1,018 |
| 2019-12-01 | $297,550 (8.2%) | $352,975 (9.0%) | 0.99 | 891 |
| 2020-01-01 | $305,881 (11.2%) | $360,415 (10.6%) | 1.02 | 794 |
| 2020-02-01 | $319,900 (14.7%) | $366,681 (11.2%) | 1.05 | 744 |
| 2020-03-01 | $320,200 (12.4%) | $374,354 (11.8%) | 1.00 | 718 |
| 2020-04-01 | $326,250 (10.6%) | $389,335 (12.8%) | 1.02 | 686 |
| 2020-05-01 | $319,900 (10.3%) | $382,250 (11.6%) | 0.97 | 719 |
| 2020-06-01 | $319,675 (10.3%) | $378,542 (9.3%) | 0.94 | 739 |
| 2020-07-01 | $320,900 (11.7%) | $385,175 (11.0%) | 0.93 | 657 |
| 2020-08-01 | $334,900 (15.5%) | $401,397 (13.9%) | 0.96 | 603 |
| 2020-09-01 | $326,618 (6.7%) | $394,671 (6.6%) | 0.94 | 573 |
| 2020-10-01 | $325,750 (12.4%) | $395,386 (13.6%) | 0.93 | 541 |
| 2020-11-01 | $329,900 (13.8%) | $393,979 (14.0%) | 0.96 | 511 |
| 2020-12-01 | $331,400 (11.4%) | $388,582 (10.1%) | 0.99 | 481 |
| 2021-01-01 | $344,900 (12.8%) | $400,339 (11.1%) | 1.03 | 414 |
| 2021-02-01 | $354,948 (11.0%) | $418,382 (14.1%) | 1.03 | 355 |
| 2021-03-01 | $350,000 (9.3%) | $409,277 (9.3%) | 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 (1.3%) | $390,538 (3.2%) | 0.85 | 466 |
| 2021-07-01 | $319,900 (-0.3%) | $383,547 (-0.4%) | 0.84 | 463 |
| 2021-08-01 | $329,204 (-1.7%) | $415,139 (3.4%) | 0.88 | 482 |
| 2021-09-01 | $323,725 (-0.9%) | $421,584 (6.8%) | 0.86 | 469 |
| 2021-10-01 | $322,000 (-1.2%) | $416,637 (5.4%) | 0.86 | 469 |
| 2021-11-01 | $333,370 (1.1%) | $425,534 (8.0%) | 0.89 | 424 |
| 2021-12-01 | $349,900 (5.6%) | $441,484 (13.6%) | 0.95 | 344 |
| 2022-01-01 | $369,900 (7.3%) | $495,422 (23.8%) | 1.00 | 251 |
| 2022-02-01 | $355,000 (0.0%) | $473,356 (13.1%) | 0.92 | 261 |
| 2022-03-01 | $367,225 (4.9%) | $440,397 (7.6%) | 0.92 | 321 |
| 2022-04-01 | $374,998 (7.2%) | $454,485 (10.1%) | 0.89 | 336 |
| 2022-05-01 | $379,950 (8.6%) | $469,536 (14.3%) | 0.87 | 374 |
| 2022-06-01 | $364,067 (12.5%) | $453,136 (16.0%) | 0.81 | 449 |
| 2022-07-01 | $364,900 (14.1%) | $455,305 (18.7%) | 0.82 | 474 |
| 2022-08-01 | $366,617 (11.4%) | $458,532 (10.5%) | 0.85 | 460 |
| 2022-09-01 | $348,841 (7.8%) | $446,025 (5.8%) | 0.82 | 430 |
| 2022-10-01 | $379,900 (18.0%) | $469,767 (12.8%) | 0.89 | 432 |
| 2022-11-01 | $388,725 (16.6%) | $475,970 (11.9%) | 0.93 | 443 |
| 2022-12-01 | $395,000 (12.9%) | $471,958 (6.9%) | 0.98 | 391 |
| 2023-01-01 | $399,950 (8.1%) | $479,082 (-3.3%) | 0.99 | 379 |
| 2023-02-01 | $422,450 (19.0%) | $494,194 (4.4%) | 1.02 | 352 |
| 2023-03-01 | $428,725 (16.8%) | $492,351 (11.8%) | 1.01 | 370 |
| 2023-04-01 | $399,900 (6.6%) | $484,721 (6.7%) | 0.93 | 327 |
Lancaster's median listing price comes in at 93% of the national average.
Lancaster's average listing price for 2023-04-01 was $484,721, a difference of $30,236 (6.7%) versus the prior year and $-7,630 versus the prior month.
For the 2023-04-01 period, Lancaster had 327 MLS listings, a difference of -43 listings (-12%) versus the prior month and -9 listings (-3%) 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 | 1,858 sqft |
| 2018-02-01 | 96 days | 1,894 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 | 2,043 sqft |
| 2018-07-01 | 54 days | 2,038 sqft |
| 2018-08-01 | 62 days | 2,028 sqft |
| 2018-09-01 | 68 days | 2,040 sqft |
| 2018-10-01 | 66 days | 1,993 sqft |
| 2018-11-01 | 66 days | 1,984 sqft |
| 2018-12-01 | 78 days | 1,969 sqft |
| 2019-01-01 | 81 days | 1,941 sqft |
| 2019-02-01 | 81 days | 1,958 sqft |
| 2019-03-01 | 75 days | 2,011 sqft |
| 2019-04-01 | 51 days | 2,083 sqft |
| 2019-05-01 | 46 days | 2,062 sqft |
| 2019-06-01 | 51 days | 2,043 sqft |
| 2019-07-01 | 53 days | 2,027 sqft |
| 2019-08-01 | 67 days | 2,009 sqft |
| 2019-09-01 | 71 days | 2,137 sqft |
| 2019-10-01 | 51 days | 2,062 sqft |
| 2019-11-01 | 61 days | 2,040 sqft |
| 2019-12-01 | 76 days | 2,046 sqft |
| 2020-01-01 | 85 days | 2,105 sqft |
| 2020-02-01 | 85 days | 2,160 sqft |
| 2020-03-01 | 60 days | 2,139 sqft |
| 2020-04-01 | 79 days | 2,150 sqft |
| 2020-05-01 | 78 days | 2,120 sqft |
| 2020-06-01 | 47 days | 2,145 sqft |
| 2020-07-01 | 41 days | 2,159 sqft |
| 2020-08-01 | 46 days | 2,200 sqft |
| 2020-09-01 | 49 days | 2,120 sqft |
| 2020-10-01 | 56 days | 2,048 sqft |
| 2020-11-01 | 52 days | 2,091 sqft |
| 2020-12-01 | 58 days | 2,018 sqft |
| 2021-01-01 | 63 days | 2,063 sqft |
| 2021-02-01 | 68 days | 2,113 sqft |
| 2021-03-01 | 48 days | 2,088 sqft |
| 2021-04-01 | 31 days | 2,075 sqft |
| 2021-05-01 | 34 days | 2,051 sqft |
| 2021-06-01 | 39 days | 1,910 sqft |
| 2021-07-01 | 42 days | 1,929 sqft |
| 2021-08-01 | 41 days | 1,987 sqft |
| 2021-09-01 | 44 days | 1,926 sqft |
| 2021-10-01 | 44 days | 1,968 sqft |
| 2021-11-01 | 47 days | 1,932 sqft |
| 2021-12-01 | 58 days | 1,924 sqft |
| 2022-01-01 | 57 days | 1,975 sqft |
| 2022-02-01 | 39 days | 1,955 sqft |
| 2022-03-01 | 31 days | 1,917 sqft |
| 2022-04-01 | 36 days | 1,976 sqft |
| 2022-05-01 | 35 days | 2,000 sqft |
| 2022-06-01 | 34 days | 1,966 sqft |
| 2022-07-01 | 36 days | 1,971 sqft |
| 2022-08-01 | 39 days | 1,972 sqft |
| 2022-09-01 | 42 days | 1,911 sqft |
| 2022-10-01 | 39 days | 1,968 sqft |
| 2022-11-01 | 43 days | 2,020 sqft |
| 2022-12-01 | 52 days | 1,974 sqft |
| 2023-01-01 | 57 days | 1,948 sqft |
| 2023-02-01 | 59 days | 2,000 sqft |
| 2023-03-01 | 49 days | 1,982 sqft |
| 2023-04-01 | 36 days | 2,043 sqft |
Lancaster's median square footage for active listings during the 2023-04-01 period was 2,043 sqft. One year prior, the average listing was 1,976 sqft.