Lancaster USDA Loans

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 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.