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 6.23% 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.