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 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 6.23% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

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

    The average rate for the prior week (2023-05-19) was 6.08% and one month ago for the week of 2023-04-21, the average rate was 5.98%.

    The average rate one year ago was 5%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.45%.

    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%), .

    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%) $343,033 (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%) $367,848 (6.5%) 0.84 18,442
    2019-03-01 $263,995 (10.0%) $379,968 (7.0%) 0.88 19,052
    2019-04-01 $275,000 (10.0%) $395,225 (7.2%) 0.87 19,543
    2019-05-01 $285,000 (7.8%) $405,428 (6.1%) 0.89 20,162
    2019-06-01 $289,900 (7.8%) $407,007 (4.9%) 0.91 20,608
    2019-07-01 $285,996 (6.0%) $404,628 (4.4%) 0.90 20,477
    2019-08-01 $285,000 (8.6%) $403,796 (5.8%) 0.89 20,549
    2019-09-01 $299,999 (15.4%) $433,794 (13.8%) 0.95 17,701
    2019-10-01 $299,000 (12.9%) $425,673 (11.6%) 0.96 18,545
    2019-11-01 $294,250 (12.3%) $421,283 (11.3%) 0.96 17,421
    2019-12-01 $285,250 (12.8%) $419,383 (12.7%) 0.95 15,066
    2020-01-01 $284,400 (13.8%) $416,699 (14.9%) 0.95 13,596
    2020-02-01 $289,900 (16.0%) $429,675 (16.8%) 0.95 13,201
    2020-03-01 $299,945 (13.6%) $442,896 (16.6%) 0.94 13,320
    2020-04-01 $299,900 (9.1%) $442,240 (11.9%) 0.94 11,885
    2020-05-01 $309,900 (8.7%) $451,129 (11.3%) 0.94 12,385
    2020-06-01 $327,450 (13.0%) $471,831 (15.9%) 0.96 12,505
    2020-07-01 $339,900 (18.9%) $495,141 (22.4%) 0.99 11,422
    2020-08-01 $339,900 (19.3%) $503,094 (24.6%) 0.97 10,845
    2020-09-01 $339,950 (13.3%) $505,792 (16.6%) 0.97 10,868
    2020-10-01 $344,655 (15.3%) $513,929 (20.7%) 0.99 10,819
    2020-11-01 $337,450 (14.7%) $508,906 (20.8%) 0.99 10,400
    2020-12-01 $325,000 (13.9%) $499,060 (19.0%) 0.97 9,093
    2021-01-01 $319,999 (12.5%) $500,453 (20.1%) 0.96 7,972
    2021-02-01 $319,997 (10.4%) $511,986 (19.2%) 0.93 7,132
    2021-03-01 $325,000 (8.4%) $521,931 (17.9%) 0.92 7,272
    2021-04-01 $336,450 (12.2%) $537,331 (21.5%) 0.91 7,631
    2021-05-01 $339,000 (9.4%) $524,049 (16.2%) 0.90 8,299
    2021-06-01 $330,000 (0.8%) $501,095 (6.2%) 0.87 9,872
    2021-07-01 $325,000 (-4.4%) $483,692 (-2.3%) 0.86 10,683
    2021-08-01 $319,900 (-5.9%) $470,888 (-6.4%) 0.85 10,996
    2021-09-01 $319,500 (-6.0%) $467,973 (-7.5%) 0.85 11,021
    2021-10-01 $319,900 (-7.2%) $470,844 (-8.4%) 0.85 10,708
    2021-11-01 $310,950 (-7.9%) $469,802 (-7.7%) 0.83 9,787
    2021-12-01 $299,950 (-7.7%) $465,426 (-6.7%) 0.81 8,421
    2022-01-01 $299,900 (-6.3%) $476,058 (-4.9%) 0.81 6,979
    2022-02-01 $299,950 (-6.3%) $485,639 (-5.2%) 0.78 6,568
    2022-03-01 $310,000 (-4.6%) $495,226 (-5.1%) 0.78 6,929
    2022-04-01 $325,000 (-3.4%) $500,573 (-6.8%) 0.77 7,325
    2022-05-01 $339,900 (0.3%) $505,399 (-3.6%) 0.78 8,552
    2022-06-01 $347,450 (5.3%) $503,622 (0.5%) 0.77 9,664
    2022-07-01 $345,000 (6.2%) $499,348 (3.2%) 0.78 10,796
    2022-08-01 $339,200 (6.0%) $495,059 (5.1%) 0.78 10,782
    2022-09-01 $335,000 (4.9%) $494,910 (5.8%) 0.78 10,741
    2022-10-01 $335,000 (4.7%) $498,263 (5.8%) 0.79 11,157
    2022-11-01 $329,950 (6.1%) $497,727 (5.9%) 0.79 11,000
    2022-12-01 $324,900 (8.3%) $492,165 (5.8%) 0.80 9,603
    2023-01-01 $320,475 (6.9%) $496,209 (4.2%) 0.79 8,727
    2023-02-01 $322,450 (7.5%) $510,625 (5.1%) 0.78 8,086
    2023-03-01 $327,450 (5.6%) $516,534 (4.3%) 0.77 7,967
    2023-04-01 $339,200 (4.4%) $538,511 (7.6%) 0.79 8,053
    Philadelphia's median listing price for 2023-04-01 was $339,200, a difference of $14,200 (4.4%) versus the prior year and $11,750 versus the prior month.

    Philadelphia's median listing price comes in at 79% of the national average.

    Philadelphia's average listing price for 2023-04-01 was $538,511, a difference of $37,938 (7.6%) versus the prior year and $21,977 versus the prior month.

    For the 2023-04-01 period, Philadelphia had 8,053 MLS listings, a difference of 86 listings (1%) versus the prior month and 728 listings (10%) 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 1,717 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 1,764 sqft
    2019-01-01 83 days 1,752 sqft
    2019-02-01 79 days 1,775 sqft
    2019-03-01 58 days 1,800 sqft
    2019-04-01 50 days 1,832 sqft
    2019-05-01 48 days 1,864 sqft
    2019-06-01 52 days 1,875 sqft
    2019-07-01 60 days 1,855 sqft
    2019-08-01 71 days 1,848 sqft
    2019-09-01 76 days 1,920 sqft
    2019-10-01 64 days 1,885 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 70 days 1,825 sqft
    2020-03-01 49 days 1,844 sqft
    2020-04-01 63 days 1,829 sqft
    2020-05-01 75 days 1,860 sqft
    2020-06-01 64 days 1,882 sqft
    2020-07-01 48 days 1,875 sqft
    2020-08-01 46 days 1,846 sqft
    2020-09-01 44 days 1,790 sqft
    2020-10-01 50 days 1,775 sqft
    2020-11-01 53 days 1,739 sqft
    2020-12-01 62 days 1,685 sqft
    2021-01-01 68 days 1,630 sqft
    2021-02-01 65 days 1,605 sqft
    2021-03-01 48 days 1,619 sqft
    2021-04-01 39 days 1,655 sqft
    2021-05-01 36 days 1,672 sqft
    2021-06-01 36 days 1,665 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 1,596 sqft
    2021-11-01 51 days 1,557 sqft
    2021-12-01 58 days 1,529 sqft
    2022-01-01 65 days 1,504 sqft
    2022-02-01 53 days 1,513 sqft
    2022-03-01 38 days 1,531 sqft
    2022-04-01 36 days 1,544 sqft
    2022-05-01 34 days 1,595 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 1,583 sqft
    2022-10-01 51 days 1,596 sqft
    2022-11-01 55 days 1,586 sqft
    2022-12-01 65 days 1,560 sqft
    2023-01-01 72 days 1,543 sqft
    2023-02-01 67 days 1,541 sqft
    2023-03-01 53 days 1,553 sqft
    2023-04-01 46 days 1,560 sqft
    Philadelphia's median listing age (time on market) for 2023-04-01 was 46 days. This is 28% longer than the same period one year ago.

    Philadelphia's median square footage for active listings during the 2023-04-01 period was 1,560 sqft. One year prior, the average listing was 1,544 sqft.