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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.