Philadelphia USDA Loan Rates, Closing Costs & Stats

Philadelphia-Camden-Wilmington, PA-NJ-DE-MD

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.

Philadelphia's 69 lenders originated 232 USDA loans during 2022. The total origination value was $60,000,000, with an average USDA loan value of $258,621.

Philadelphia USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Philadelphia averaged 6.6% for the week of 2023-12-01, compared to the national average (all USDA variants) of 6.997% for the same period.

Philadelphia's average USDA mortgage closing costs are $6,367.

The average rate for the prior week (2023-11-24) was 6.71% and one month ago for the week of 2023-10-27, the average rate was 7.06%.

The average rate one year ago was 6.28%.

For refis of the same type during the week of 2023-12-01, the average rate was 5.42%.

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

Philadelphia 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 Philadelphia level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
NVR Mortgage Finance, Inc. 34 3.38% $9,233
GUILD MORTGAGE COMPANY 27 4.61% $9,281
CALIBER HOME LOANS, INC. 12 4.53% $6,200
EMM LOANS LLC 8 4.09% $7,330
UNITED WHOLESALE MORTGAGE, LLC 7 4.24% $9,395
CROSSCOUNTRY MORTGAGE, LLC 7 5.07% $9,267
GREENTREE MORTGAGE COMPANY, L.P. 7 4.61% $7,067
NFM, INC. 7 4.61% $6,899
PIKE CREEK MORTGAGE SERVICES, INC. 6 4.65% $8,781
Northpointe Bank 6 4.60% $8,685
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 5.67% $8,398
Nations Lending Corporation 5 4.88% $6,037
FINANCE OF AMERICA MORTGAGE LLC 5 4.23% $7,095
HOME POINT FINANCIAL CORPORATION 4 4.31% $9,217
ACADEMY MORTGAGE CORPORATION 4 5.19% $7,631
Acre Mortgage and Financial Inc 4 4.75% $13,460
Gateway First Bank 4 4.97% $6,750
Paramount Residential Mortgage Group, Inc. 3 5.25% $12,136
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 4.87% $7,915
Prosperity Home Mortgage, LLC 3 3.92% $7,218
Fulton Bank 3 4.46% $4,904
CARDINAL FINANCIAL 3 4.33% $6,667
Huntingdon Valley Bank 3 4.87% $9,737
ABSOLUTE HOME MORTGAGE CORPORATION 3 4.58% $8,165
GUARANTEED RATE, INC. 2 4.61% $8,392
Citizens Bank 2 5.69% $13,297
NEWREZ LLC 2 4.13% $6,334
AMERISAVE MORTGAGE CORPORATION 2 3.69% $6,421
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.56% $5,866
EMBRACE HOME LOANS, INC. 2 5.63% $7,318
NATION ONE MORTGAGE CORPORATION 2 5.31% $9,603
DEVELOPER'S MORTGAGE COMPANY 2 4.38% $7,072
BROKER SOLUTIONS, INC. 2 5.06% $9,282
ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 3.69% $6,948
ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 1 3.00% $8,916
Wilmington Savings Fund Society, FSB 1 5.38% $10,176
ALLIED MORTGAGE GROUP, INC. 1 5.25% $5,551
AmRes Corporation 1 5.75% $6,863
Atlantic Coast Mortgage, LLC 1 4.88% $6,582
BAYSHORE MORTGAGE FUNDING, LLC 1 5.50% $9,748
Carrington Mortgage Services, LLC 1 5.13% $9,438
CMG MORTGAGE, INC. 1 3.75% $9,058
DIRECT MORTGAGE LOANS, LLC 1 3.62% $5,853
DRAPER AND KRAMER MORTGAGE CORP. 1 5.00% $7,424
ENVOY MORTGAGE, LTD 1 3.50% $11,741
Florida Capital Bank 1 4.75% $12,337
GENEVA FINANCIAL, LLC 1 3.13% $6,090
George Mason Mortgage, LLC 1 4.63% $5,702
GUARANTEED RATE AFFINITY, LLC 1 3.50% $6,675
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.50% $6,008
JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 1 4.88% $10,173
LAKEVIEW LOAN SERVICING, LLC 1 3.50% $8,147
Meridian Bank Corporation 1 4.99% $10,128
MOVEMENT MORTGAGE, LLC 1 3.13% $6,865
MY MORTGAGE, INC. 1 3.88% $8,239
NJ LENDERS CORP. 1 3.00% $7,833
PENNYMAC LOAN SERVICES, LLC 1 3.00% $4,562
Philadelphia Mortgage Advisors, Inc. 1 5.38% $14,748
PNC Bank 1 3.38% $6,576
Presidential Bank, FSB 1 3.25% $6,249
Quaint Oak Mortgage, LLC 1 3.25% $8,997
Sierra Pacific Mortgage Company, Inc. 1 4.88% $9,857
SOUTHERN TRUST MORTGAGE, LLC 1 2.88% $7,668
SUN WEST MORTGAGE COMPANY, INC. 1 4.13% $15,014
SWBC MORTGAGE CORPORATION 1 4.75% $12,492
TIDEWATER MORTGAGE SERVICES, INC. 1 4.63% $6,441
TOWNE MORTGAGE COMPANY 1 4.38% $9,153
UNION HOME MORTGAGE CORP. 1 4.75% $7,736
US MORTGAGE CORPORATION 1 4.75% $5,639

The top Philadelphia USDA lender as defined by loan originations is NVR Mortgage Finance, Inc., with 34 USDA loans originated. Their average total fees are $9,233, which is $48 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Philadelphia USDA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. ($6,200), NVR Mortgage Finance, Inc. ($9,233), GUILD MORTGAGE COMPANY ($9,281), .

The lowest rate Philadelphia USDA lenders (with over 10 loans originated) are NVR Mortgage Finance, Inc. (3.38%), CALIBER HOME LOANS, INC. (4.53%), GUILD MORTGAGE COMPANY (4.61%), .