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
6.95%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Lancaster's average USDA mortgage closing costs are $6,117.
The average rate for the prior week (2024-04-12) was
6.9% and
one month ago for the week of 2024-03-15, the
average rate was 6.78%.
The average rate one year ago was 6.52%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.09%.
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 |
Lancaster's median listing price comes in at 99% of the national average.
Lancaster's average listing price for 2024-03-01 was $502,502, a difference of $10,151 (2.1%) versus the prior year and $6,894 versus the prior month.
For the 2024-03-01 period, Lancaster had 298 MLS listings, a difference of -16 listings (-5%) versus the prior month and -72 listings (-19%) 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 |
Lancaster's median square footage for active listings during the 2024-03-01 period was 1,907 sqft. One year prior, the average listing was 1,982 sqft.