Philadelphia USDA Loan Rates, Closing Costs & Stats

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

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    • 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 38 lenders originated 81 USDA loans during 2023. The total origination value was $21,695,000, with an average USDA loan value of $267,840.

    Philadelphia USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Philadelphia averaged 7.02% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Philadelphia's average USDA mortgage closing costs are $6,441.

    The average rate for the prior week (2024-04-12) was 6.57% and one month ago for the week of 2024-03-15, the average rate was 6.46%.

    The average rate one year ago was 6.2%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.38%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 12 6.54% $9,262
    GREENTREE MORTGAGE COMPANY, L.P. 4 6.47% $9,607
    NVR Mortgage Finance, Inc. 4 5.63% $11,842
    ABSOLUTE HOME MORTGAGE CORPORATION 4 6.78% $11,587
    1st Colonial Community Bank 3 6.25% $6,534
    CROSSCOUNTRY MORTGAGE, LLC 3 6.50% $8,243
    NATION ONE MORTGAGE CORPORATION 3 6.79% $9,412
    Nations Lending Corporation 3 6.21% $8,474
    NEWREZ LLC 3 6.13% $8,691
    AMERICAN FINANCIAL NETWORK, INC. 2 6.63% $10,699
    Northpointe Bank 2 6.25% $10,168
    First Savings Bank 2 6.50% $8,595
    Acre Mortgage and Financial Inc 2 7.06% $13,920
    FIRST COMMUNITY MORTGAGE, INC. 2 7.25% $5,560
    Keystone Funding, Inc. 2 6.44% $13,014
    UNITED WHOLESALE MORTGAGE, LLC 2 5.69% $14,534
    CALIBER HOME LOANS, INC. 2 6.44% $8,661
    NFM, INC. 2 5.94% $6,443
    Meridian Bank Corporation 1 6.13% $6,873
    MOVEMENT MORTGAGE, LLC 1 5.75% $12,054
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.25% $12,821
    Shore United Bank 1 6.13% $8,570
    NJ LENDERS CORP. 1 7.25% $6,065
    ABERDEEN PROVING GROUND FEDERAL CREDIT UNION 1 5.50% $10,698
    Paramount Residential Mortgage Group, Inc. 1 6.25% $9,452
    Philadelphia Mortgage Advisors, Inc. 1 6.63% $11,060
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.00% $3,909
    Bank of England 1 6.25% $6,440
    EMBRACE HOME LOANS, INC. 1 6.25% $10,895
    PLAZA HOME MORTGAGE, INC. 1 6.49% $10,867
    ENVOY MORTGAGE, LTD 1 6.63% $15,222
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $8,642
    Flagstar Bank, FSB 1 6.75% $10,080
    Gateway First Bank 1 6.13% $3,670
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.13% $9,563
    GUARANTEED RATE, INC. 1 6.75% $11,359
    JERSEY MORTGAGE COMPANY OF NEW JERSEY, INC. 1 5.25% $18,715
    MCLEAN MORTGAGE CORPORATION 1 6.00% $4,736

    The top Philadelphia USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 12 USDA loans originated. Their average total fees are $9,262, which is $345 lower than the next largest lender, GREENTREE MORTGAGE COMPANY, L.P..

    The lowest fee Philadelphia USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($9,262), .

    The lowest rate Philadelphia USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (6.54%), .

    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%) $343,148 (3.1%) 0.85 20,091
    2018-02-01 $236,495 (7.5%) $345,641 (2.6%) 0.86 20,324
    2018-03-01 $240,000 (5.2%) $355,372 (2.9%) 0.84 19,664
    2018-04-01 $249,950 (6.4%) $368,667 (4.1%) 0.85 20,536
    2018-05-01 $264,500 (8.2%) $382,305 (5.4%) 0.88 21,369
    2018-06-01 $269,000 (8.7%) $388,007 (5.6%) 0.90 21,956
    2018-07-01 $269,900 (8.2%) $387,673 (6.0%) 0.90 22,046
    2018-08-01 $262,450 (5.8%) $381,803 (5.9%) 0.88 22,059
    2018-09-01 $260,000 (5.3%) $381,222 (5.3%) 0.87 22,372
    2018-10-01 $264,900 (6.0%) $381,630 (4.2%) 0.90 22,719
    2018-11-01 $262,000 (8.1%) $378,883 (7.1%) 0.89 21,974
    2018-12-01 $252,950 (6.3%) $372,337 (7.1%) 0.87 20,169
    2019-01-01 $249,900 (8.7%) $362,674 (5.7%) 0.86 18,670
    2019-02-01 $250,000 (5.7%) $367,914 (6.4%) 0.84 18,442
    2019-03-01 $263,571 (9.8%) $382,802 (7.7%) 0.86 18,991
    2019-04-01 $275,000 (10.0%) $395,384 (7.3%) 0.87 19,615
    2019-05-01 $285,275 (7.9%) $405,589 (6.1%) 0.89 20,163
    2019-06-01 $289,900 (7.8%) $407,178 (4.9%) 0.91 20,609
    2019-07-01 $286,000 (6.0%) $404,857 (4.4%) 0.90 20,476
    2019-08-01 $288,811 (10.0%) $407,988 (6.9%) 0.91 19,922
    2019-09-01 $294,542 (13.3%) $417,180 (9.4%) 0.94 19,184
    2019-10-01 $298,363 (12.6%) $424,153 (11.1%) 0.96 18,547
    2019-11-01 $294,800 (12.5%) $421,606 (11.3%) 0.97 17,424
    2019-12-01 $285,495 (12.9%) $419,734 (12.7%) 0.95 15,070
    2020-01-01 $284,448 (13.8%) $417,078 (15.0%) 0.95 13,599
    2020-02-01 $289,986 (16.0%) $430,008 (16.9%) 0.95 13,201
    2020-03-01 $299,950 (13.8%) $443,288 (15.8%) 0.94 13,324
    2020-04-01 $299,900 (9.1%) $442,711 (12.0%) 0.94 11,889
    2020-05-01 $309,945 (8.7%) $451,578 (11.3%) 0.94 12,389
    2020-06-01 $327,450 (13.0%) $472,121 (16.0%) 0.96 12,509
    2020-07-01 $339,900 (18.9%) $495,413 (22.4%) 0.99 11,427
    2020-08-01 $339,900 (17.7%) $503,338 (23.4%) 0.97 10,853
    2020-09-01 $339,950 (15.4%) $506,058 (21.3%) 0.97 10,877
    2020-10-01 $344,900 (15.6%) $514,093 (21.2%) 0.99 10,827
    2020-11-01 $337,450 (14.5%) $509,052 (20.7%) 0.99 10,406
    2020-12-01 $325,000 (13.8%) $499,138 (18.9%) 0.97 9,098
    2021-01-01 $320,000 (12.5%) $500,475 (20.0%) 0.96 7,975
    2021-02-01 $320,000 (10.4%) $512,115 (19.1%) 0.93 7,133
    2021-03-01 $325,000 (8.4%) $521,990 (17.8%) 0.92 7,273
    2021-04-01 $336,450 (12.2%) $537,418 (21.4%) 0.91 7,632
    2021-05-01 $339,000 (9.4%) $524,162 (16.1%) 0.90 8,302
    2021-06-01 $330,000 (0.8%) $501,219 (6.2%) 0.87 9,874
    2021-07-01 $325,000 (-4.4%) $483,789 (-2.4%) 0.86 10,683
    2021-08-01 $319,900 (-5.9%) $470,989 (-6.4%) 0.85 10,997
    2021-09-01 $319,500 (-6.0%) $468,032 (-7.5%) 0.85 11,020
    2021-10-01 $319,900 (-7.3%) $470,906 (-8.4%) 0.85 10,709
    2021-11-01 $311,200 (-7.8%) $469,869 (-7.7%) 0.83 9,790
    2021-12-01 $299,950 (-7.7%) $465,523 (-6.7%) 0.81 8,423
    2022-01-01 $299,900 (-6.3%) $476,101 (-4.9%) 0.81 6,980
    2022-02-01 $299,950 (-6.3%) $485,606 (-5.2%) 0.78 6,569
    2022-03-01 $312,125 (-4.0%) $495,502 (-5.1%) 0.78 6,933
    2022-04-01 $325,000 (-3.4%) $500,971 (-6.8%) 0.77 7,331
    2022-05-01 $339,950 (0.3%) $505,725 (-3.5%) 0.78 8,561
    2022-06-01 $348,900 (5.7%) $504,160 (0.6%) 0.78 9,672
    2022-07-01 $345,000 (6.2%) $499,486 (3.2%) 0.78 10,801
    2022-08-01 $339,450 (6.1%) $495,209 (5.1%) 0.78 10,790
    2022-09-01 $335,000 (4.9%) $495,062 (5.8%) 0.78 10,749
    2022-10-01 $335,000 (4.7%) $498,370 (5.8%) 0.79 11,162
    2022-11-01 $331,450 (6.5%) $497,789 (5.9%) 0.80 11,004
    2022-12-01 $325,000 (8.4%) $492,295 (5.8%) 0.80 9,606
    2023-01-01 $322,000 (7.4%) $496,357 (4.3%) 0.80 8,730
    2023-02-01 $322,450 (7.5%) $510,642 (5.2%) 0.78 8,088
    2023-03-01 $328,450 (5.2%) $516,575 (4.3%) 0.77 7,967
    2023-04-01 $339,640 (4.5%) $538,707 (7.5%) 0.79 8,053
    2023-05-01 $349,450 (2.8%) $544,226 (7.6%) 0.79 8,047
    2023-06-01 $354,950 (1.7%) $560,838 (11.2%) 0.80 8,318
    2023-07-01 $350,000 (1.5%) $553,808 (10.9%) 0.80 8,348
    2023-08-01 $350,000 (3.1%) $543,128 (9.7%) 0.80 8,555
    2023-09-01 $350,000 (4.5%) $541,242 (9.3%) 0.81 9,092
    2023-10-01 $350,000 (4.5%) $543,703 (9.1%) 0.82 9,607
    2023-11-01 $349,900 (5.6%) $536,853 (7.9%) 0.83 9,708
    2023-12-01 $340,000 (4.6%) $531,015 (7.9%) 0.83 8,879
    2024-01-01 $337,375 (4.8%) $533,636 (7.5%) 0.82 7,895
    2024-02-01 $339,950 (5.4%) $538,381 (5.4%) 0.82 7,622
    2024-03-01 $349,999 (6.6%) $559,038 (8.2%) 0.82 7,863
    Philadelphia's median listing price for 2024-03-01 was $349,999, a difference of $21,549 (6.6%) versus the prior year and $10,049 versus the prior month.

    Philadelphia's median listing price comes in at 82% of the national average.

    Philadelphia's average listing price for 2024-03-01 was $559,038, a difference of $42,463 (8.2%) versus the prior year and $20,657 versus the prior month.

    For the 2024-03-01 period, Philadelphia had 7,863 MLS listings, a difference of 241 listings (3%) versus the prior month and -104 listings (-1%) 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 81 days 1,700 sqft
    2018-02-01 73 days 1,705 sqft
    2018-03-01 54 days 1,718 sqft
    2018-04-01 52 days 1,755 sqft
    2018-05-01 48 days 1,800 sqft
    2018-06-01 51 days 1,825 sqft
    2018-07-01 57 days 1,826 sqft
    2018-08-01 59 days 1,804 sqft
    2018-09-01 60 days 1,800 sqft
    2018-10-01 60 days 1,800 sqft
    2018-11-01 63 days 1,800 sqft
    2018-12-01 72 days 1,762 sqft
    2019-01-01 79 days 1,751 sqft
    2019-02-01 72 days 1,772 sqft
    2019-03-01 58 days 1,804 sqft
    2019-04-01 46 days 1,829 sqft
    2019-05-01 45 days 1,862 sqft
    2019-06-01 50 days 1,876 sqft
    2019-07-01 57 days 1,855 sqft
    2019-08-01 57 days 1,858 sqft
    2019-09-01 58 days 1,875 sqft
    2019-10-01 58 days 1,884 sqft
    2019-11-01 61 days 1,850 sqft
    2019-12-01 73 days 1,827 sqft
    2020-01-01 79 days 1,800 sqft
    2020-02-01 62 days 1,825 sqft
    2020-03-01 45 days 1,846 sqft
    2020-04-01 58 days 1,829 sqft
    2020-05-01 71 days 1,860 sqft
    2020-06-01 53 days 1,882 sqft
    2020-07-01 43 days 1,875 sqft
    2020-08-01 40 days 1,848 sqft
    2020-09-01 39 days 1,792 sqft
    2020-10-01 45 days 1,776 sqft
    2020-11-01 49 days 1,740 sqft
    2020-12-01 58 days 1,686 sqft
    2021-01-01 64 days 1,634 sqft
    2021-02-01 56 days 1,610 sqft
    2021-03-01 42 days 1,624 sqft
    2021-04-01 35 days 1,659 sqft
    2021-05-01 32 days 1,675 sqft
    2021-06-01 33 days 1,667 sqft
    2021-07-01 37 days 1,650 sqft
    2021-08-01 41 days 1,624 sqft
    2021-09-01 45 days 1,602 sqft
    2021-10-01 45 days 1,598 sqft
    2021-11-01 49 days 1,558 sqft
    2021-12-01 56 days 1,530 sqft
    2022-01-01 61 days 1,504 sqft
    2022-02-01 49 days 1,516 sqft
    2022-03-01 35 days 1,536 sqft
    2022-04-01 33 days 1,545 sqft
    2022-05-01 32 days 1,598 sqft
    2022-06-01 35 days 1,644 sqft
    2022-07-01 38 days 1,620 sqft
    2022-08-01 44 days 1,591 sqft
    2022-09-01 49 days 1,586 sqft
    2022-10-01 49 days 1,596 sqft
    2022-11-01 52 days 1,589 sqft
    2022-12-01 61 days 1,562 sqft
    2023-01-01 67 days 1,546 sqft
    2023-02-01 63 days 1,545 sqft
    2023-03-01 50 days 1,556 sqft
    2023-04-01 44 days 1,562 sqft
    2023-05-01 44 days 1,591 sqft
    2023-06-01 45 days 1,629 sqft
    2023-07-01 45 days 1,618 sqft
    2023-08-01 45 days 1,594 sqft
    2023-09-01 45 days 1,578 sqft
    2023-10-01 44 days 1,597 sqft
    2023-11-01 46 days 1,575 sqft
    2023-12-01 56 days 1,541 sqft
    2024-01-01 66 days 1,530 sqft
    2024-02-01 59 days 1,530 sqft
    2024-03-01 43 days 1,560 sqft
    Philadelphia's median listing age (time on market) for 2024-03-01 was 43 days. This is -13% shorter than the same period one year ago.

    Philadelphia's median square footage for active listings during the 2024-03-01 period was 1,560 sqft. One year prior, the average listing was 1,556 sqft.