Oil City USDA Loan Rates, Closing Costs & Stats

Oil City, PA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Oil City's 7 lenders originated 14 USDA loans during 2023. The total origination value was $1,610,000, with an average USDA loan value of $115,000.

    Oil City USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Oil City averaged 6.94% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Oil City's average USDA mortgage closing costs are $4,955.

    The average rate for the prior week (2024-04-12) was 6.8% and one month ago for the week of 2024-03-15, the average rate was 6.58%.

    The average rate one year ago was 6.32%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Oil City 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 Oil City level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Northwest Bank 3 6.00% $5,458
    TIDEWATER MORTGAGE SERVICES, INC. 3 6.75% $6,412
    UNION HOME MORTGAGE CORP. 3 6.92% $6,851
    CARDINAL FINANCIAL 2 7.00% $3,719
    Paramount Residential Mortgage Group, Inc. 1 7.25% $6,866
    Flagstar Bank, FSB 1 6.25% $5,234
    Summit Mortgage Corporation 1 6.13% $5,706

    The top Oil City USDA lender as defined by loan originations is Northwest Bank, with 3 USDA loans originated. Their average total fees are $5,458, which is $954 lower than the next largest lender, TIDEWATER MORTGAGE SERVICES, INC..

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Oil City (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 $88,625 (6.9%) $125,894 (4.5%) 0.00 289
    2018-02-01 $88,500 (6.8%) $123,122 (0.4%) 0.00 289
    2018-03-01 $85,000 (1.3%) $119,014 (-4.9%) 0.00 300
    2018-04-01 $83,700 (-3.2%) $119,136 (-4.8%) 0.00 314
    2018-05-01 $83,700 (-6.9%) $119,536 (-6.5%) 0.00 333
    2018-06-01 $84,900 (-5.3%) $120,530 (-4.9%) 0.00 334
    2018-07-01 $87,875 (-2.9%) $127,391 (-2.9%) 0.00 333
    2018-08-01 $88,450 (-2.8%) $130,496 (-0.3%) 0.00 336
    2018-09-01 $93,500 (2.8%) $127,517 (-2.6%) 0.00 323
    2018-10-01 $95,900 (6.7%) $126,515 (-3.8%) 0.00 311
    2018-11-01 $96,175 (7.0%) $124,806 (-4.4%) 0.00 291
    2018-12-01 $94,200 (4.8%) $122,707 (-5.3%) 0.00 268
    2019-01-01 $89,800 (1.3%) $122,309 (-2.9%) 0.00 254
    2019-02-01 $89,575 (1.2%) $123,977 (0.7%) 0.00 247
    2019-03-01 $91,671 (7.9%) $126,941 (6.7%) 0.00 237
    2019-04-01 $96,700 (15.5%) $129,209 (8.5%) 0.00 220
    2019-05-01 $98,750 (18.0%) $125,756 (5.2%) 0.00 213
    2019-06-01 $97,400 (14.7%) $127,229 (5.6%) 0.00 211
    2019-07-01 $89,050 (1.3%) $122,909 (-3.5%) 0.00 224
    2019-08-01 $89,936 (1.7%) $121,850 (-6.6%) 0.00 234
    2019-09-01 $89,916 (-3.8%) $121,187 (-5.0%) 0.00 234
    2019-10-01 $89,900 (-6.3%) $121,163 (-4.2%) 0.00 232
    2019-11-01 $91,000 (-5.4%) $130,305 (4.4%) 0.00 231
    2019-12-01 $92,400 (-1.9%) $132,526 (8.0%) 0.00 224
    2020-01-01 $91,950 (2.4%) $134,243 (9.8%) 0.00 212
    2020-02-01 $94,700 (5.7%) $138,102 (11.4%) 0.00 200
    2020-03-01 $90,000 (-1.8%) $136,226 (7.3%) 0.00 192
    2020-04-01 $89,875 (-7.1%) $136,176 (5.4%) 0.00 183
    2020-05-01 $92,500 (-6.3%) $139,730 (11.1%) 0.00 167
    2020-06-01 $94,950 (-2.5%) $141,453 (11.2%) 0.00 169
    2020-07-01 $95,225 (6.9%) $146,833 (19.5%) 0.00 155
    2020-08-01 $89,950 (0.0%) $139,730 (14.7%) 0.00 139
    2020-09-01 $84,975 (-5.5%) $119,836 (-1.1%) 0.00 143
    2020-10-01 $91,000 (1.2%) $141,610 (16.9%) 0.00 139
    2020-11-01 $97,000 (6.6%) $147,251 (13.0%) 0.00 123
    2020-12-01 $99,700 (7.9%) $147,394 (11.2%) 0.00 113
    2021-01-01 $99,250 (7.9%) $140,997 (5.0%) 0.00 109
    2021-02-01 $99,475 (5.0%) $149,505 (8.3%) 0.00 98
    2021-03-01 $102,975 (14.4%) $164,037 (20.4%) 0.00 79
    2021-04-01 $99,600 (10.8%) $158,515 (16.4%) 0.00 87
    2021-05-01 $99,000 (7.0%) $152,975 (9.5%) 0.00 92
    2021-06-01 $114,900 (21.0%) $153,075 (8.2%) 0.00 91
    2021-07-01 $119,000 (25.0%) $172,106 (17.2%) 0.00 93
    2021-08-01 $119,000 (32.3%) $188,295 (34.8%) 0.00 87
    2021-09-01 $115,000 (35.3%) $163,500 (36.4%) 0.00 92
    2021-10-01 $112,400 (23.5%) $141,317 (-0.2%) 0.00 89
    2021-11-01 $97,725 (0.8%) $138,304 (-6.1%) 0.00 88
    2021-12-01 $90,600 (-9.1%) $138,243 (-6.2%) 0.00 93
    2022-01-01 $94,000 (-5.3%) $140,861 (-0.1%) 0.00 87
    2022-02-01 $98,225 (-1.3%) $148,653 (-0.6%) 0.00 83
    2022-03-01 $107,450 (4.4%) $169,044 (3.1%) 0.00 78
    2022-04-01 $128,000 (28.5%) $192,310 (21.3%) 0.00 76
    2022-05-01 $126,850 (28.1%) $188,253 (23.1%) 0.00 95
    2022-06-01 $130,075 (13.2%) $193,770 (26.6%) 0.00 108
    2022-07-01 $129,900 (9.2%) $187,312 (8.8%) 0.00 119
    2022-08-01 $132,050 (11.0%) $186,650 (-0.9%) 0.00 109
    2022-09-01 $122,450 (6.5%) $180,621 (10.5%) 0.00 102
    2022-10-01 $119,900 (6.7%) $164,242 (16.2%) 0.00 103
    2022-11-01 $125,000 (27.9%) $166,110 (20.1%) 0.00 106
    2022-12-01 $129,700 (43.2%) $194,273 (40.5%) 0.00 99
    2023-01-01 $127,175 (35.3%) $190,873 (35.5%) 0.00 93
    2023-02-01 $128,175 (30.5%) $190,087 (27.9%) 0.00 80
    2023-03-01 $128,725 (19.8%) $193,138 (14.3%) 0.00 72
    2023-04-01 $132,200 (3.3%) $196,896 (2.4%) 0.00 73
    2023-05-01 $133,950 (5.6%) $192,493 (2.3%) 0.00 75
    2023-06-01 $150,875 (16.0%) $206,635 (6.6%) 0.00 86
    2023-07-01 $160,000 (23.2%) $218,452 (16.6%) 0.00 98
    2023-08-01 $151,225 (14.5%) $242,005 (29.7%) 0.00 104
    2023-09-01 $157,000 (28.2%) $245,743 (36.1%) 0.00 106
    2023-10-01 $167,675 (39.9%) $245,934 (49.7%) 0.00 100
    2023-11-01 $148,000 (18.4%) $227,094 (36.7%) 0.00 105
    2023-12-01 $135,000 (4.1%) $226,585 (16.6%) 0.00 97
    2024-01-01 $135,000 (6.2%) $215,147 (12.7%) 0.00 92
    2024-02-01 $135,000 (5.3%) $208,920 (9.9%) 0.00 84
    2024-03-01 $140,000 (8.8%) $206,627 (7.0%) 0.00 87
    Oil City's median listing price for 2024-03-01 was $140,000, a difference of $11,275 (8.8%) versus the prior year and $5,000 versus the prior month.

    Oil City's median listing price comes in at 0% of the national average.

    Oil City's average listing price for 2024-03-01 was $206,627, a difference of $13,489 (7.0%) versus the prior year and $-2,293 versus the prior month.

    For the 2024-03-01 period, Oil City had 87 MLS listings, a difference of 3 listings (4%) versus the prior month and 15 listings (21%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Oil City (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,509 sqft
    2018-02-01 0 days 1,509 sqft
    2018-03-01 0 days 1,496 sqft
    2018-04-01 0 days 1,494 sqft
    2018-05-01 0 days 1,513 sqft
    2018-06-01 0 days 1,521 sqft
    2018-07-01 0 days 1,528 sqft
    2018-08-01 0 days 1,536 sqft
    2018-09-01 0 days 1,536 sqft
    2018-10-01 0 days 1,522 sqft
    2018-11-01 0 days 1,528 sqft
    2018-12-01 0 days 1,528 sqft
    2019-01-01 0 days 1,512 sqft
    2019-02-01 0 days 1,512 sqft
    2019-03-01 0 days 1,516 sqft
    2019-04-01 0 days 1,509 sqft
    2019-05-01 0 days 1,486 sqft
    2019-06-01 0 days 1,496 sqft
    2019-07-01 0 days 1,506 sqft
    2019-08-01 0 days 1,505 sqft
    2019-09-01 0 days 1,492 sqft
    2019-10-01 0 days 1,500 sqft
    2019-11-01 0 days 1,538 sqft
    2019-12-01 0 days 1,532 sqft
    2020-01-01 0 days 1,537 sqft
    2020-02-01 0 days 1,537 sqft
    2020-03-01 0 days 1,491 sqft
    2020-04-01 0 days 1,453 sqft
    2020-05-01 0 days 1,488 sqft
    2020-06-01 0 days 1,527 sqft
    2020-07-01 0 days 1,549 sqft
    2020-08-01 0 days 1,515 sqft
    2020-09-01 0 days 1,462 sqft
    2020-10-01 0 days 1,459 sqft
    2020-11-01 0 days 1,516 sqft
    2020-12-01 0 days 1,526 sqft
    2021-01-01 0 days 1,560 sqft
    2021-02-01 0 days 1,579 sqft
    2021-03-01 0 days 1,571 sqft
    2021-04-01 0 days 1,575 sqft
    2021-05-01 0 days 1,617 sqft
    2021-06-01 0 days 1,584 sqft
    2021-07-01 0 days 1,529 sqft
    2021-08-01 0 days 1,636 sqft
    2021-09-01 0 days 1,482 sqft
    2021-10-01 0 days 1,456 sqft
    2021-11-01 0 days 1,455 sqft
    2021-12-01 0 days 1,459 sqft
    2022-01-01 0 days 1,507 sqft
    2022-02-01 0 days 1,513 sqft
    2022-03-01 0 days 1,514 sqft
    2022-04-01 0 days 1,544 sqft
    2022-05-01 0 days 1,544 sqft
    2022-06-01 0 days 1,515 sqft
    2022-07-01 0 days 1,448 sqft
    2022-08-01 0 days 1,465 sqft
    2022-09-01 0 days 1,403 sqft
    2022-10-01 0 days 1,480 sqft
    2022-11-01 0 days 1,477 sqft
    2022-12-01 0 days 1,515 sqft
    2023-01-01 0 days 1,560 sqft
    2023-02-01 0 days 1,556 sqft
    2023-03-01 0 days 1,469 sqft
    2023-04-01 0 days 1,407 sqft
    2023-05-01 0 days 1,443 sqft
    2023-06-01 0 days 1,476 sqft
    2023-07-01 0 days 1,588 sqft
    2023-08-01 0 days 1,610 sqft
    2023-09-01 0 days 1,624 sqft
    2023-10-01 0 days 1,626 sqft
    2023-11-01 0 days 1,631 sqft
    2023-12-01 0 days 1,685 sqft
    2024-01-01 0 days 1,644 sqft
    2024-02-01 0 days 1,655 sqft
    2024-03-01 0 days 1,632 sqft
    Oil City's median listing age (time on market) for 2024-03-01 was 0 days.

    Oil City's median square footage for active listings during the 2024-03-01 period was 1,632 sqft. One year prior, the average listing was 1,469 sqft.