Pittsburgh USDA Loan Rates, Closing Costs & Stats

PITTSBURGH, PA

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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.

    Pittsburgh's 47 lenders originated 306 USDA loans during 2023. The total origination value was $43,470,000, with an average USDA loan value of $142,059.

    Pittsburgh USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Pittsburgh averaged 6.89% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Pittsburgh's average USDA mortgage closing costs are $5,260.

    The average rate for the prior week (2024-04-12) was 6.55% and one month ago for the week of 2024-03-15, the average rate was 6.43%.

    The average rate one year ago was 6.47%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.01%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Pittsburgh 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 Pittsburgh level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    PLAZA HOME MORTGAGE, INC. 49 6.60% $7,012
    DEVELOPER'S MORTGAGE COMPANY 24 6.43% $4,310
    EQUITY RESOURCES, INC. 18 6.62% $5,631
    UNITED WHOLESALE MORTGAGE, LLC 17 6.08% $7,406
    UNION HOME MORTGAGE CORP. 15 6.43% $7,105
    Victorian Finance, LLC 14 6.10% $8,819
    RELIANCE FIRST CAPITAL, LLC 12 6.39% $5,808
    Sail Mortgage Corp. 11 6.59% $5,417
    SOMERSET TRUST COMPANY 10 6.24% $5,044
    STOCKTON MORTGAGE CORPORATION 9 6.50% $7,644
    Paramount Residential Mortgage Group, Inc. 8 6.80% $6,442
    Citizens Bank 8 6.48% $6,315
    AMCAP MORTGAGE, LTD. 7 6.18% $6,562
    NORWICH COMMERCIAL GROUP, INC. 7 6.50% $5,635
    CROSSCOUNTRY MORTGAGE, LLC 6 6.31% $7,481
    HOWARD HANNA FINANCIAL SERVICES, INC. 6 6.23% $5,269
    Flagstar Bank, FSB 6 6.71% $5,062
    WEST PENN FINANCIAL SERVICE CENTER, INC. 5 6.35% $5,671
    First Commonwealth Bank 5 6.40% $6,763
    First National Bank of Pennsylvania 5 6.10% $6,582
    WELCOME HOME FINANCE, L.P. 5 5.95% $2,073
    SOUTHPOINT FINANCIAL SERVICES, INC. 4 6.28% $6,664
    TOWNE MORTGAGE COMPANY 4 6.22% $7,316
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.84% $7,902
    Union Savings Bank 4 6.53% $5,370
    NEWREZ LLC 3 6.92% $8,341
    WesBanco 3 6.42% $6,606
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 5.96% $7,840
    Wells Fargo Bank 2 6.69% $1,643
    BAY EQUITY LLC 2 6.25% $6,762
    Bank of England 2 5.75% $7,373
    First Federal Bank of the Midwest 2 5.94% $7,940
    GUARANTEED RATE AFFINITY, LLC 2 6.06% $7,627
    Equity Prime Mortgage LLC 2 6.56% $6,612
    PNC Bank 1 6.75% $4,530
    GUARANTEED RATE, INC. 1 6.75% $7,472
    MICHIGAN MUTUAL, INC. 1 6.13% $8,404
    Mortgage Research Center, LLC 1 7.13% $2,644
    MOVEMENT MORTGAGE, LLC 1 7.13% $6,595
    EVANSVILLE TEACHERS 1 6.00% $5,386
    FEDERATED MORTGAGE CORP. 1 7.13% $5,971
    DAS Acquisition Company, LLC 1 6.63% $8,391
    RUOFF MORTGAGE COMPANY, INC. 1 7.25% $1,258
    Community Bank 1 6.50% $3,767
    Carrington Mortgage Services, LLC 1 6.13% $9,431
    The Huntington National Bank 1 6.25% $6,254
    AXIA FINANCIAL, LLC 1 4.13% $8,690

    The top Pittsburgh USDA lender as defined by loan originations is PLAZA HOME MORTGAGE, INC., with 49 USDA loans originated. Their average total fees are $7,012, which is $2,702 higher than the next largest lender, DEVELOPER'S MORTGAGE COMPANY.

    The lowest fee Pittsburgh USDA lenders (with over 10 loans originated) are DEVELOPER'S MORTGAGE COMPANY ($4,310), SOMERSET TRUST COMPANY ($5,044), Sail Mortgage Corp. ($5,417), EQUITY RESOURCES, INC. ($5,631) and RELIANCE FIRST CAPITAL, LLC ($5,808).

    The lowest rate Pittsburgh USDA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.08%), Victorian Finance, LLC (6.10%), SOMERSET TRUST COMPANY (6.24%), RELIANCE FIRST CAPITAL, LLC (6.39%) and DEVELOPER'S MORTGAGE COMPANY (6.43%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Pittsburgh (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 $169,900 (11.2%) $260,197 (6.9%) 0.63 7,641
    2018-02-01 $169,900 (9.7%) $265,316 (6.6%) 0.62 7,160
    2018-03-01 $179,900 (11.4%) $279,002 (7.6%) 0.63 6,925
    2018-04-01 $184,900 (9.4%) $285,004 (7.5%) 0.63 6,961
    2018-05-01 $188,375 (9.4%) $288,647 (7.4%) 0.63 7,196
    2018-06-01 $184,900 (5.7%) $282,702 (5.0%) 0.62 7,538
    2018-07-01 $183,750 (2.1%) $281,232 (4.0%) 0.61 7,818
    2018-08-01 $182,400 (2.2%) $277,909 (3.9%) 0.61 7,963
    2018-09-01 $179,900 (2.8%) $275,367 (3.8%) 0.60 8,057
    2018-10-01 $179,450 (2.6%) $272,269 (3.9%) 0.61 8,183
    2018-11-01 $174,950 (0.0%) $270,349 (2.6%) 0.59 7,937
    2018-12-01 $169,900 (-0.1%) $272,128 (4.6%) 0.59 7,394
    2019-01-01 $169,900 (0.0%) $272,520 (4.7%) 0.59 6,999
    2019-02-01 $173,700 (2.2%) $278,319 (4.9%) 0.59 6,566
    2019-03-01 $181,929 (1.1%) $289,869 (3.9%) 0.59 6,381
    2019-04-01 $189,450 (2.5%) $297,075 (4.2%) 0.60 6,375
    2019-05-01 $196,000 (4.1%) $302,227 (4.7%) 0.61 6,525
    2019-06-01 $199,900 (8.1%) $304,008 (7.5%) 0.62 6,886
    2019-07-01 $199,900 (8.8%) $301,682 (7.3%) 0.63 7,163
    2019-08-01 $199,655 (9.5%) $299,674 (7.8%) 0.63 7,234
    2019-09-01 $199,286 (10.8%) $297,740 (8.1%) 0.64 7,360
    2019-10-01 $199,000 (10.9%) $297,386 (9.2%) 0.64 7,444
    2019-11-01 $194,000 (10.9%) $299,103 (10.6%) 0.64 7,132
    2019-12-01 $189,900 (11.8%) $296,088 (8.8%) 0.63 6,588
    2020-01-01 $190,125 (11.9%) $303,760 (11.5%) 0.64 6,159
    2020-02-01 $200,000 (15.1%) $317,723 (14.2%) 0.65 5,703
    2020-03-01 $214,950 (18.2%) $327,937 (13.1%) 0.67 5,449
    2020-04-01 $216,850 (14.5%) $325,812 (9.7%) 0.68 5,305
    2020-05-01 $225,000 (14.8%) $329,035 (8.9%) 0.68 5,485
    2020-06-01 $242,500 (21.3%) $349,353 (14.9%) 0.71 5,252
    2020-07-01 $249,450 (24.8%) $358,188 (18.7%) 0.72 4,978
    2020-08-01 $249,000 (24.7%) $355,499 (18.6%) 0.71 4,896
    2020-09-01 $243,950 (22.4%) $355,825 (19.5%) 0.70 4,874
    2020-10-01 $239,900 (20.6%) $357,081 (20.1%) 0.69 4,724
    2020-11-01 $239,450 (23.4%) $354,996 (18.7%) 0.70 4,372
    2020-12-01 $234,900 (23.7%) $358,137 (21.0%) 0.70 3,920
    2021-01-01 $239,000 (25.7%) $368,453 (21.3%) 0.71 3,402
    2021-02-01 $245,000 (22.5%) $390,979 (23.1%) 0.71 2,806
    2021-03-01 $249,900 (16.3%) $405,813 (23.8%) 0.71 2,691
    2021-04-01 $259,812 (19.8%) $412,056 (26.5%) 0.70 2,791
    2021-05-01 $260,000 (15.6%) $407,935 (24.0%) 0.69 2,962
    2021-06-01 $257,075 (6.0%) $395,403 (13.2%) 0.68 3,363
    2021-07-01 $239,900 (-3.8%) $369,072 (3.0%) 0.63 3,912
    2021-08-01 $229,900 (-7.7%) $347,609 (-2.2%) 0.61 4,191
    2021-09-01 $227,000 (-7.0%) $341,042 (-4.2%) 0.61 4,331
    2021-10-01 $225,000 (-6.2%) $341,720 (-4.3%) 0.60 4,241
    2021-11-01 $219,000 (-8.5%) $338,090 (-4.8%) 0.59 3,951
    2021-12-01 $209,900 (-10.6%) $335,818 (-6.2%) 0.57 3,492
    2022-01-01 $205,000 (-14.2%) $343,579 (-6.8%) 0.55 2,992
    2022-02-01 $214,900 (-12.3%) $362,623 (-7.3%) 0.56 2,555
    2022-03-01 $219,950 (-12.0%) $371,259 (-8.5%) 0.55 2,484
    2022-04-01 $225,000 (-13.4%) $373,309 (-9.4%) 0.54 2,600
    2022-05-01 $239,900 (-7.7%) $370,445 (-9.2%) 0.55 3,128
    2022-06-01 $239,900 (-6.7%) $365,436 (-7.6%) 0.53 3,530
    2022-07-01 $239,900 (0.0%) $361,240 (-2.1%) 0.54 4,024
    2022-08-01 $232,500 (1.1%) $349,765 (0.6%) 0.54 4,281
    2022-09-01 $225,000 (-0.9%) $337,936 (-0.9%) 0.53 4,405
    2022-10-01 $219,900 (-2.3%) $328,287 (-3.9%) 0.52 4,582
    2022-11-01 $218,950 (0.0%) $327,304 (-3.2%) 0.53 4,536
    2022-12-01 $209,698 (-0.1%) $324,476 (-3.4%) 0.52 4,186
    2023-01-01 $199,950 (-2.5%) $326,334 (-5.0%) 0.50 3,706
    2023-02-01 $200,000 (-6.9%) $335,855 (-7.4%) 0.48 3,307
    2023-03-01 $215,000 (-2.3%) $347,938 (-6.3%) 0.51 3,156
    2023-04-01 $225,000 (0.0%) $358,425 (-4.0%) 0.52 3,278
    2023-05-01 $238,125 (-0.7%) $370,023 (-0.1%) 0.54 3,241
    2023-06-01 $239,950 (0.0%) $386,111 (5.7%) 0.54 3,496
    2023-07-01 $249,000 (3.8%) $384,586 (6.5%) 0.57 3,671
    2023-08-01 $249,900 (7.5%) $395,709 (13.1%) 0.57 3,831
    2023-09-01 $248,750 (10.6%) $390,618 (15.6%) 0.58 4,075
    2023-10-01 $246,750 (12.2%) $387,649 (18.1%) 0.58 4,358
    2023-11-01 $239,900 (9.6%) $384,098 (17.4%) 0.57 4,431
    2023-12-01 $239,000 (14.0%) $388,298 (19.7%) 0.58 4,175
    2024-01-01 $234,950 (17.5%) $387,140 (18.6%) 0.57 3,837
    2024-02-01 $232,450 (16.2%) $395,913 (17.9%) 0.56 3,509
    2024-03-01 $239,900 (11.6%) $408,105 (17.3%) 0.56 3,496
    Pittsburgh's median listing price for 2024-03-01 was $239,900, a difference of $24,900 (11.6%) versus the prior year and $7,450 versus the prior month.

    Pittsburgh's median listing price comes in at 56% of the national average.

    Pittsburgh's average listing price for 2024-03-01 was $408,105, a difference of $60,167 (17.3%) versus the prior year and $12,192 versus the prior month.

    For the 2024-03-01 period, Pittsburgh had 3,496 MLS listings, a difference of -13 listings (0%) versus the prior month and 340 listings (11%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Pittsburgh (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 109 days 1,665 sqft
    2018-02-01 111 days 1,679 sqft
    2018-03-01 96 days 1,704 sqft
    2018-04-01 70 days 1,742 sqft
    2018-05-01 62 days 1,745 sqft
    2018-06-01 57 days 1,726 sqft
    2018-07-01 59 days 1,701 sqft
    2018-08-01 63 days 1,688 sqft
    2018-09-01 69 days 1,696 sqft
    2018-10-01 73 days 1,671 sqft
    2018-11-01 77 days 1,664 sqft
    2018-12-01 88 days 1,644 sqft
    2019-01-01 102 days 1,632 sqft
    2019-02-01 104 days 1,645 sqft
    2019-03-01 88 days 1,674 sqft
    2019-04-01 65 days 1,683 sqft
    2019-05-01 58 days 1,710 sqft
    2019-06-01 57 days 1,723 sqft
    2019-07-01 59 days 1,729 sqft
    2019-08-01 61 days 1,720 sqft
    2019-09-01 65 days 1,709 sqft
    2019-10-01 67 days 1,697 sqft
    2019-11-01 73 days 1,678 sqft
    2019-12-01 87 days 1,659 sqft
    2020-01-01 96 days 1,678 sqft
    2020-02-01 95 days 1,705 sqft
    2020-03-01 74 days 1,718 sqft
    2020-04-01 83 days 1,731 sqft
    2020-05-01 88 days 1,760 sqft
    2020-06-01 83 days 1,796 sqft
    2020-07-01 53 days 1,790 sqft
    2020-08-01 53 days 1,771 sqft
    2020-09-01 53 days 1,739 sqft
    2020-10-01 56 days 1,711 sqft
    2020-11-01 64 days 1,679 sqft
    2020-12-01 74 days 1,679 sqft
    2021-01-01 87 days 1,676 sqft
    2021-02-01 87 days 1,681 sqft
    2021-03-01 65 days 1,700 sqft
    2021-04-01 44 days 1,704 sqft
    2021-05-01 44 days 1,701 sqft
    2021-06-01 40 days 1,692 sqft
    2021-07-01 39 days 1,632 sqft
    2021-08-01 41 days 1,606 sqft
    2021-09-01 46 days 1,599 sqft
    2021-10-01 50 days 1,585 sqft
    2021-11-01 55 days 1,565 sqft
    2021-12-01 65 days 1,554 sqft
    2022-01-01 78 days 1,560 sqft
    2022-02-01 78 days 1,612 sqft
    2022-03-01 57 days 1,609 sqft
    2022-04-01 39 days 1,627 sqft
    2022-05-01 37 days 1,626 sqft
    2022-06-01 37 days 1,621 sqft
    2022-07-01 39 days 1,626 sqft
    2022-08-01 44 days 1,617 sqft
    2022-09-01 50 days 1,587 sqft
    2022-10-01 54 days 1,573 sqft
    2022-11-01 59 days 1,568 sqft
    2022-12-01 72 days 1,548 sqft
    2023-01-01 86 days 1,542 sqft
    2023-02-01 89 days 1,542 sqft
    2023-03-01 64 days 1,573 sqft
    2023-04-01 46 days 1,602 sqft
    2023-05-01 46 days 1,614 sqft
    2023-06-01 47 days 1,636 sqft
    2023-07-01 47 days 1,633 sqft
    2023-08-01 48 days 1,653 sqft
    2023-09-01 51 days 1,620 sqft
    2023-10-01 51 days 1,608 sqft
    2023-11-01 53 days 1,595 sqft
    2023-12-01 66 days 1,571 sqft
    2024-01-01 79 days 1,571 sqft
    2024-02-01 75 days 1,576 sqft
    2024-03-01 55 days 1,591 sqft
    Pittsburgh's median listing age (time on market) for 2024-03-01 was 55 days. This is -14% shorter than the same period one year ago.

    Pittsburgh's median square footage for active listings during the 2024-03-01 period was 1,591 sqft. One year prior, the average listing was 1,573 sqft.