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 116 lenders originated 708 USDA loans during 2021. The total origination value was $173,850,000, with an average USDA loan value of $245,551.

Philadelphia USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Philadelphia averaged 6.32% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Philadelphia's average USDA mortgage closing costs are $6,217.

The average rate for the prior week (2023-01-20) was 6.01% and one month ago for the week of 2022-12-23, the average rate was 6.24%.

The average rate one year ago was 3.99%.

For refis of the same type during the week of 2023-01-27, the average rate was 6.13%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
RESIDENTIAL MORTGAGE SERVICES, INC. 53 2.90% $6,606
NVR Mortgage Finance, Inc. 46 2.99% $8,492
GREENTREE MORTGAGE COMPANY, L.P. 21 3.05% $5,278
CROSSCOUNTRY MORTGAGE, LLC 21 2.98% $6,508
CALIBER HOME LOANS, INC. 20 2.81% $6,922
Nations Lending Corporation 20 2.98% $5,467
EMM LOANS LLC 18 2.92% $8,344
Meridian Bank Corporation 16 2.78% $6,651
HOME POINT FINANCIAL CORPORATION 16 2.77% $6,911
ALLIED MORTGAGE GROUP, INC. 16 3.20% $6,013
FINANCE OF AMERICA MORTGAGE LLC 15 2.88% $6,547
NFM, INC. 15 3.26% $6,328
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 14 2.93% $7,224
Mortgage America, Inc. 13 2.90% $6,704
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 3.43% $6,744
Gateway First Bank 11 2.91% $5,048
Prosperity Home Mortgage, LLC 11 2.97% $6,634
AMERICAN FINANCIAL NETWORK, INC. 11 2.92% $9,880
PENNYMAC LOAN SERVICES, LLC 10 2.99% $5,475
ACADEMY MORTGAGE CORPORATION 9 3.14% $6,449
MOVEMENT MORTGAGE, LLC 9 2.92% $6,438
PIKE CREEK MORTGAGE SERVICES, INC. 9 3.51% $3,697
Northpointe Bank 9 2.71% $6,217
ENVOY MORTGAGE, LTD 8 3.06% $8,957
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 8 2.81% $8,712
SWBC MORTGAGE CORPORATION 7 3.02% $4,608
Philadelphia Mortgage Advisors, Inc. 7 2.80% $6,447
NATION ONE MORTGAGE CORPORATION 7 3.43% $7,799
Advisors Mortgage Group, L.L.C. 7 2.77% $6,169
Keystone Funding, Inc. 7 2.45% $6,489
Acre Mortgage and Financial Inc 7 2.86% $9,740
BROKER SOLUTIONS, INC. 6 3.10% $7,607
Huntingdon Valley Bank 6 2.83% $10,607
NEWREZ LLC 6 2.75% $8,182
HOMEBRIDGE FINANCIAL SERVICES, INC. 6 2.85% $6,970
Citizens Bank 6 2.73% $7,515
ABSOLUTE HOME MORTGAGE CORPORATION 6 3.06% $7,797
Evesham Mortgage, LLC 6 2.63% $5,424
LOANDEPOT.COM, LLC 6 3.06% $7,096
1st Colonial Community Bank 5 2.65% $5,375
Atlantic Home Loans, Inc. 5 2.98% $6,625
BAYSHORE MORTGAGE FUNDING, LLC 5 3.25% $7,247
FREEDOM MORTGAGE CORPORATION 5 2.93% $5,571
GUARANTEED RATE, INC. 5 3.08% $7,493
GUILD MORTGAGE COMPANY 5 3.03% $5,712
MORTGAGE ACCESS CORP. 5 3.35% $6,801
PRIMELENDING, A PLAINSCAPITAL COMPANY 5 3.25% $6,544
UNITED WHOLESALE MORTGAGE, LLC 5 2.77% $8,018
MUTUAL OF OMAHA MORTGAGE, INC. 4 2.81% $6,713
PNC Bank 4 2.88% $6,330
PLAZA HOME MORTGAGE, INC. 4 2.90% $10,650
ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 3.41% $5,293
Equity Prime Mortgage LLC 4 3.13% $4,276
TOWNE MORTGAGE COMPANY 4 3.38% $7,896
Towne Bank 4 2.41% $5,921
SOUTHERN TRUST MORTGAGE, LLC 4 3.00% $3,007
CMG MORTGAGE, INC. 4 2.84% $7,780
UNION HOME MORTGAGE CORP. 3 2.63% $6,649
Presidential Bank, FSB 3 2.96% $6,631
George Mason Mortgage, LLC 3 2.54% $8,291
Carrington Mortgage Services, LLC 3 3.21% $5,372
Mortgage Network, Inc. 3 2.50% $6,854
LAKEVIEW LOAN SERVICING, LLC 3 2.79% $3,756
FIRST HOME MORTGAGE CORPORATION 3 3.00% $5,973
DIRECT MORTGAGE LOANS, LLC 3 2.88% $9,027
Flagstar Bank, FSB 3 2.75% $7,121
FAMILY FIRST FUNDING LLC 3 2.92% $8,025
AmRes Corporation 3 2.83% $6,205
NJ LENDERS CORP. 3 2.58% $6,245
ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 3 2.63% $6,192
GENEVA FINANCIAL, LLC 3 3.29% $6,888
First Guaranty Mortgage Corporation 3 2.67% $6,751
STEARNS LENDING, LLC 2 2.50% $6,936
GUARANTEED RATE AFFINITY, LLC 2 2.81% $5,807
Wilmington Savings Fund Society, FSB 2 2.81% $5,732
EMBRACE HOME LOANS, INC. 2 3.50% $8,352
LENDUS, LLC 2 2.88% $7,701
CONTOUR MORTGAGE CORPORATION 2 2.63% $5,725
NATIONWIDE MORTGAGE BANKERS, INC. 2 3.31% $6,013
Bank of England 2 2.44% $8,191
APEX HOME LOANS, INC. 2 3.69% $6,843
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 3.13% $7,622
Republic Bank 2 2.88% $5,372
Fulton Bank 2 2.81% $4,904
SUN WEST MORTGAGE COMPANY, INC. 2 2.50% $4,317
BAY CAPITAL MORTGAGE CORPORATION 1 2.63% $6,174
Plains Commerce Bank 1 3.13% $11,826
Blue Ridge Bank 1 2.25% $10,289
Capital Bank 1 2.75% $6,485
CHURCHILL MORTGAGE CORPORATION 1 2.50% $8,919
Goldwater Bank, N.A. 1 2.88% $7,746
West Town Bank & Trust 1 3.25% $6,111
AMERICAN HERITAGE FCU 1 2.88% $10,241
Quaint Oak Mortgage, LLC 1 3.00% $7,519
Financial Freedom Mortgage, LLC 1 3.25% $1,843
AMERICAN FINANCIAL RESOURCES, INC. 1 3.50% $4,408
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.88% $9,633
Sierra Pacific Mortgage Company, Inc. 1 3.00% $5,574
VAN DYK MORTGAGE CORPORATION 1 3.25% $4,686
Florida Capital Bank 1 3.13% $8,324
SUCCESS MORTGAGE PARTNERS, INC. 1 3.50% $5,469
Summit Mortgage Corporation 1 3.13% $5,401
Union Savings Bank 1 2.25% $7,047
Mid Penn Bank 1 3.13% $8,405
The Federal Savings Bank 1 2.88% $3,288
TIDEWATER MORTGAGE SERVICES, INC. 1 2.75% $6,030
DRAPER AND KRAMER MORTGAGE CORP. 1 2.63% $6,081
JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 1 2.99% $7,306
Truist 1 2.63% $8,715
Evolve Bank & Trust 1 3.63% $6,797
Barrington Bank & Trust Company, N.A. 1 3.38% $5,906
US MORTGAGE CORPORATION 1 3.00% $7,130
OCEANSIDE MORTGAGE COMPANY 1 3.13% $1,095
Paramount Residential Mortgage Group, Inc. 1 2.88% $5,593
Northeast Equitable Mortgage, LLC 1 2.75% $6,798
FIRST HERITAGE FINANCIAL, LLC 1 2.75% $8,345

The top Philadelphia USDA lender as defined by loan originations is RESIDENTIAL MORTGAGE SERVICES, INC., with 53 USDA loans originated. Their average total fees are $6,606, which is $1,886 lower than the next largest lender, NVR Mortgage Finance, Inc..

The lowest fee Philadelphia USDA lenders (with over 10 loans originated) are Gateway First Bank ($5,048), GREENTREE MORTGAGE COMPANY, L.P. ($5,278), Nations Lending Corporation ($5,467), PENNYMAC LOAN SERVICES, LLC ($5,475) and ALLIED MORTGAGE GROUP, INC. ($6,013).

The lowest rate Philadelphia USDA lenders (with over 10 loans originated) are HOME POINT FINANCIAL CORPORATION (2.77%), Meridian Bank Corporation (2.78%), CALIBER HOME LOANS, INC. (2.81%), FINANCE OF AMERICA MORTGAGE LLC (2.88%) and Mortgage America, Inc. (2.90%).


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Philadelphia (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 $229,995 (5.0%) $343,032 (3.1%) 0.85 20,095
2018-02-01 $236,450 (7.5%) $345,565 (2.6%) 0.86 20,323
2018-03-01 $240,000 (5.3%) $355,219 (2.9%) 0.84 19,664
2018-04-01 $249,950 (6.4%) $368,548 (4.1%) 0.85 20,535
2018-05-01 $264,500 (8.2%) $382,187 (5.4%) 0.88 21,368
2018-06-01 $269,000 (8.7%) $387,896 (5.6%) 0.90 21,953
2018-07-01 $269,900 (8.2%) $387,569 (6.0%) 0.90 22,045
2018-08-01 $262,450 (5.8%) $381,709 (5.9%) 0.88 22,059
2018-09-01 $260,000 (5.3%) $381,134 (5.3%) 0.87 22,375
2018-10-01 $264,900 (6.0%) $381,516 (4.1%) 0.90 22,722
2018-11-01 $262,000 (8.1%) $378,687 (7.1%) 0.89 21,975
2018-12-01 $252,900 (6.3%) $372,121 (7.1%) 0.87 20,170
2019-01-01 $249,900 (8.7%) $362,568 (5.7%) 0.86 18,671
2019-02-01 $250,000 (5.7%) $367,855 (6.5%) 0.84 18,442
2019-03-01 $263,571 (9.8%) $382,692 (7.7%) 0.86 18,992
2019-04-01 $275,000 (10.0%) $395,209 (7.2%) 0.87 19,617
2019-05-01 $285,000 (7.8%) $405,354 (6.1%) 0.89 20,175
2019-06-01 $289,884 (7.8%) $406,934 (4.9%) 0.91 20,623
2019-07-01 $285,750 (5.9%) $404,510 (4.4%) 0.89 20,494
2019-08-01 $288,745 (10.0%) $407,647 (6.8%) 0.91 19,940
2019-09-01 $294,514 (13.3%) $416,816 (9.4%) 0.94 19,203
2019-10-01 $298,359 (12.6%) $423,748 (11.1%) 0.96 18,566
2019-11-01 $293,995 (12.2%) $421,080 (11.2%) 0.96 17,441
2019-12-01 $285,000 (12.7%) $419,166 (12.6%) 0.95 15,086
2020-01-01 $283,935 (13.6%) $416,475 (14.9%) 0.95 13,616
2020-02-01 $289,900 (16.0%) $429,454 (16.8%) 0.95 13,220
2020-03-01 $299,925 (13.8%) $442,660 (15.7%) 0.94 13,340
2020-04-01 $299,900 (9.1%) $441,974 (11.8%) 0.94 11,904
2020-05-01 $309,900 (8.7%) $450,820 (11.2%) 0.94 12,403
2020-06-01 $327,000 (12.8%) $471,489 (15.9%) 0.96 12,524
2020-07-01 $339,900 (19.0%) $494,745 (22.3%) 0.99 11,441
2020-08-01 $339,900 (17.7%) $502,628 (23.3%) 0.97 10,865
2020-09-01 $339,750 (15.4%) $505,299 (21.2%) 0.97 10,887
2020-10-01 $343,990 (15.3%) $513,440 (21.2%) 0.99 10,839
2020-11-01 $337,200 (14.7%) $508,364 (20.7%) 0.98 10,419
2020-12-01 $325,000 (14.0%) $498,534 (18.9%) 0.97 9,112
2021-01-01 $319,900 (12.7%) $499,790 (20.0%) 0.95 7,991
2021-02-01 $319,950 (10.4%) $511,146 (19.0%) 0.93 7,150
2021-03-01 $325,000 (8.4%) $521,091 (17.7%) 0.92 7,291
2021-04-01 $335,000 (11.7%) $536,457 (21.4%) 0.91 7,648
2021-05-01 $337,900 (9.0%) $523,527 (16.1%) 0.89 8,315
2021-06-01 $330,000 (0.9%) $500,900 (6.2%) 0.87 9,883
2021-07-01 $325,000 (-4.4%) $483,524 (-2.3%) 0.86 10,687
2021-08-01 $319,900 (-5.9%) $470,663 (-6.4%) 0.85 10,999
2021-09-01 $319,450 (-6.0%) $467,735 (-7.4%) 0.85 11,037
2021-10-01 $319,900 (-7.0%) $470,644 (-8.3%) 0.85 10,727
2021-11-01 $309,950 (-8.1%) $469,550 (-7.6%) 0.83 9,808
2021-12-01 $299,950 (-7.7%) $465,134 (-6.7%) 0.81 8,443
2022-01-01 $299,900 (-6.3%) $475,569 (-4.9%) 0.81 6,999
2022-02-01 $299,950 (-6.3%) $485,278 (-5.1%) 0.78 6,589
2022-03-01 $310,000 (-4.6%) $494,610 (-5.1%) 0.78 6,952
2022-04-01 $325,000 (-3.0%) $500,262 (-6.8%) 0.78 7,349
2022-05-01 $339,900 (0.6%) $505,097 (-3.5%) 0.78 8,576
2022-06-01 $347,450 (5.3%) $503,367 (0.5%) 0.77 9,688
2022-07-01 $345,000 (6.2%) $499,099 (3.2%) 0.78 10,821
2022-08-01 $338,598 (5.8%) $494,862 (5.1%) 0.78 10,807
2022-09-01 $335,000 (4.9%) $494,716 (5.8%) 0.78 10,767
2022-10-01 $335,000 (4.7%) $498,003 (5.8%) 0.79 11,182
2022-11-01 $329,950 (6.5%) $497,580 (6.0%) 0.79 11,024
2022-12-01 $320,000 (6.7%) $488,151 (5.0%) 0.80 9,772
Philadelphia's median listing price for 2022-12-01 was $320,000, a difference of $20,050 (6.7%) versus the prior year and $-9,950 versus the prior month.

Philadelphia's median listing price comes in at 80% of the national average.

Philadelphia's average listing price for 2022-12-01 was $488,151, a difference of $23,017 (5.0%) versus the prior year and $-9,429 versus the prior month.

For the 2022-12-01 period, Philadelphia had 9,772 MLS listings, a difference of -1,252 listings (-11%) versus the prior month and 1,329 listings (16%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Philadelphia (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 87 days 1,700 sqft
2018-02-01 80 days 1,705 sqft
2018-03-01 59 days 1,716 sqft
2018-04-01 55 days 1,755 sqft
2018-05-01 53 days 1,800 sqft
2018-06-01 54 days 1,825 sqft
2018-07-01 60 days 1,826 sqft
2018-08-01 63 days 1,805 sqft
2018-09-01 65 days 1,800 sqft
2018-10-01 64 days 1,800 sqft
2018-11-01 66 days 1,800 sqft
2018-12-01 75 days 1,763 sqft
2019-01-01 83 days 1,752 sqft
2019-02-01 79 days 1,774 sqft
2019-03-01 63 days 1,805 sqft
2019-04-01 50 days 1,830 sqft
2019-05-01 48 days 1,862 sqft
2019-06-01 52 days 1,875 sqft
2019-07-01 60 days 1,854 sqft
2019-08-01 61 days 1,857 sqft
2019-09-01 62 days 1,874 sqft
2019-10-01 63 days 1,883 sqft
2019-11-01 66 days 1,850 sqft
2019-12-01 77 days 1,827 sqft
2020-01-01 85 days 1,800 sqft
2020-02-01 71 days 1,825 sqft
2020-03-01 49 days 1,843 sqft
2020-04-01 63 days 1,828 sqft
2020-05-01 75 days 1,860 sqft
2020-06-01 65 days 1,880 sqft
2020-07-01 49 days 1,874 sqft
2020-08-01 46 days 1,844 sqft
2020-09-01 44 days 1,789 sqft
2020-10-01 50 days 1,776 sqft
2020-11-01 53 days 1,738 sqft
2020-12-01 62 days 1,685 sqft
2021-01-01 69 days 1,630 sqft
2021-02-01 65 days 1,605 sqft
2021-03-01 48 days 1,620 sqft
2021-04-01 39 days 1,655 sqft
2021-05-01 36 days 1,673 sqft
2021-06-01 36 days 1,666 sqft
2021-07-01 39 days 1,650 sqft
2021-08-01 43 days 1,622 sqft
2021-09-01 47 days 1,602 sqft
2021-10-01 49 days 1,595 sqft
2021-11-01 51 days 1,557 sqft
2021-12-01 58 days 1,528 sqft
2022-01-01 65 days 1,504 sqft
2022-02-01 53 days 1,514 sqft
2022-03-01 38 days 1,532 sqft
2022-04-01 36 days 1,544 sqft
2022-05-01 34 days 1,596 sqft
2022-06-01 37 days 1,640 sqft
2022-07-01 40 days 1,617 sqft
2022-08-01 46 days 1,590 sqft
2022-09-01 51 days 1,584 sqft
2022-10-01 51 days 1,596 sqft
2022-11-01 55 days 1,588 sqft
2022-12-01 66 days 1,560 sqft
Philadelphia's median listing age (time on market) for 2022-12-01 was 66 days. This is 14% longer than the same period one year ago.

Philadelphia's median square footage for active listings during the 2022-12-01 period was 1,560 sqft. One year prior, the average listing was 1,528 sqft.