Pittsburgh USDA Loan Rates, Closing Costs & Stats

PITTSBURGH, PA

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 71 lenders originated 781 USDA loans during 2021. The total origination value was $108,295,000, with an average USDA loan value of $138,662.

Pittsburgh USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Pittsburgh averaged 6.45% for the week of 2022-12-02, compared to the national average (all USDA variants) of 6.437% for the same period.

Pittsburgh's average USDA mortgage closing costs are $5,036.

The average rate for the prior week (2022-11-25) was 6.59% and one month ago for the week of 2022-10-28, the average rate was 6.66%.

The average rate one year ago was 3.05%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.38%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
Victorian Finance, LLC 81 2.79% $5,373
PLAZA HOME MORTGAGE, INC. 77 3.05% $6,331
UNION HOME MORTGAGE CORP. 57 2.77% $6,618
EQUITY RESOURCES, INC. 55 2.93% $5,071
Citizens Bank 51 2.88% $4,936
Sail Mortgage Corp. 40 2.64% $5,476
SOMERSET TRUST COMPANY 32 3.22% $4,281
WEST PENN FINANCIAL SERVICE CENTER, INC. 31 2.82% $5,160
RELIANCE FIRST CAPITAL, LLC 30 2.77% $3,844
HOME POINT FINANCIAL CORPORATION 26 3.20% $6,390
Flagstar Bank, FSB 25 2.92% $4,298
First Commonwealth Bank 24 2.69% $5,641
DEVELOPER'S MORTGAGE COMPANY 16 2.83% $4,881
HOWARD HANNA FINANCIAL SERVICES, INC. 16 2.75% $5,082
First Guaranty Mortgage Corporation 15 3.01% $5,818
AMERICAN FINANCIAL NETWORK, INC. 12 2.94% $9,817
LOANDEPOT.COM, LLC 12 3.06% $6,386
UNITED WHOLESALE MORTGAGE, LLC 10 2.89% $7,061
EMM LOANS LLC 10 2.83% $5,581
NORWICH COMMERCIAL GROUP, INC. 10 3.83% $6,717
Union Savings Bank 10 2.65% $4,341
WELCOME HOME FINANCE, L.P. 8 2.63% $1,468
MOVEMENT MORTGAGE, LLC 7 3.13% $5,080
ASSOCIATED MORTGAGE BANKERS, INC. 7 3.23% $4,777
TOWNE MORTGAGE COMPANY 6 2.81% $5,243
STEARNS LENDING, LLC 6 2.73% $7,998
AFFORDABLE MORTGAGE ADVISORS, LLC. 5 3.13% $4,719
Carrington Mortgage Services, LLC 5 3.65% $5,943
BROKER SOLUTIONS, INC. 5 2.50% $6,243
NEWREZ LLC 5 2.77% $6,234
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 2.50% $9,323
WesBanco Bank, Inc. 4 2.72% $5,843
First National Bank of Pennsylvania 4 2.81% $5,556
Gateway First Bank 4 3.34% $2,099
PNC Bank 4 2.84% $4,425
NATIONWIDE MORTGAGE BANKERS, INC. 4 2.66% $6,806
GUARANTEED RATE AFFINITY, LLC 3 2.96% $5,834
EVANSVILLE TEACHERS 3 2.83% $4,920
Paramount Residential Mortgage Group, Inc. 3 2.79% $7,737
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 3.08% $5,079
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.63% $5,993
PENNYMAC LOAN SERVICES, LLC 2 2.88% $3,804
EMBRACE HOME LOANS, INC. 2 2.81% $12,321
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.19% $6,848
Bank of England 2 3.25% $5,532
Community Bank 2 2.75% $4,825
FINANCE OF AMERICA MORTGAGE LLC 2 2.88% $5,354
GUARANTEED RATE, INC. 2 2.69% $5,304
The Huntington National Bank 2 3.19% $5,391
TruHome Solutions, LLC 1 3.00% $4,952
Austin Capital Bank SSB 1 2.75% $5,270
CROSSCOUNTRY MORTGAGE, LLC 1 2.88% $5,453
Equity Prime Mortgage LLC 1 2.63% $4,733
First Federal Bank 1 2.75% $7,763
FREEDOM MORTGAGE CORPORATION 1 2.75% $6,324
GREENWAY MORTGAGE FUNDING CORP. 1 2.38% $5,376
HOMESIDE FINANCIAL, LLC 1 3.63% $4,878
Magnolia Bank 1 2.88% $5,684
MEMBERS 1ST FEDERAL CREDIT UNION 1 3.00% $4,917
Meridian Bank Corporation 1 2.63% $7,443
Nations Lending Corporation 1 2.88% $4,281
Northpointe Bank 1 2.63% $5,748
NVR Mortgage Finance, Inc. 1 3.25% $8,374
OCEANSIDE MORTGAGE COMPANY 1 3.13% $1,326
PLANET HOME LENDING, LLC 1 2.25% $3,802
Prosperity Home Mortgage, LLC 1 2.38% $6,221
RESIDENTIAL MORTGAGE SERVICES, INC. 1 2.75% $5,606
SUN WEST MORTGAGE COMPANY, INC. 1 2.25% $5,246
TIDEWATER MORTGAGE SERVICES, INC. 1 3.13% $5,332
ABSOLUTE HOME MORTGAGE CORPORATION 1 4.75% $5,302
UNITED MORTGAGE CORP. 1 2.75% $5,295

The top Pittsburgh USDA lender as defined by loan originations is Victorian Finance, LLC, with 81 USDA loans originated. Their average total fees are $5,373, which is $959 lower than the next largest lender, PLAZA HOME MORTGAGE, INC..

The lowest fee Pittsburgh USDA lenders (with over 10 loans originated) are RELIANCE FIRST CAPITAL, LLC ($3,844), SOMERSET TRUST COMPANY ($4,281), Flagstar Bank, FSB ($4,298), Union Savings Bank ($4,341) and DEVELOPER'S MORTGAGE COMPANY ($4,881).

The lowest rate Pittsburgh USDA lenders (with over 10 loans originated) are Sail Mortgage Corp. (2.64%), Union Savings Bank (2.65%), First Commonwealth Bank (2.69%), HOWARD HANNA FINANCIAL SERVICES, INC. (2.75%) and RELIANCE FIRST CAPITAL, LLC (2.77%).


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 (11.4%) $260,257 (6.9%) 0.63 7,641
2018-02-01 $169,900 (9.7%) $265,431 (6.6%) 0.62 7,159
2018-03-01 $179,900 (11.4%) $279,048 (7.5%) 0.63 6,925
2018-04-01 $184,900 (9.8%) $285,074 (7.4%) 0.63 6,962
2018-05-01 $188,500 (10.1%) $288,812 (7.4%) 0.63 7,195
2018-06-01 $184,900 (5.7%) $282,832 (5.0%) 0.62 7,536
2018-07-01 $183,750 (2.1%) $281,313 (4.1%) 0.61 7,817
2018-08-01 $182,400 (2.4%) $277,932 (3.9%) 0.61 7,964
2018-09-01 $179,900 (2.8%) $275,650 (3.9%) 0.60 8,059
2018-10-01 $179,450 (2.6%) $272,482 (4.0%) 0.61 8,183
2018-11-01 $174,950 (0.0%) $270,597 (2.7%) 0.59 7,938
2018-12-01 $169,900 (-0.1%) $272,395 (4.7%) 0.59 7,395
2019-01-01 $169,900 (0.0%) $272,771 (4.8%) 0.59 7,000
2019-02-01 $173,700 (2.2%) $278,613 (5.0%) 0.59 6,567
2019-03-01 $181,957 (1.1%) $290,173 (4.0%) 0.60 6,385
2019-04-01 $189,450 (2.5%) $297,486 (4.4%) 0.60 6,384
2019-05-01 $196,000 (4.0%) $302,346 (4.7%) 0.61 6,535
2019-06-01 $199,900 (8.1%) $303,959 (7.5%) 0.62 6,900
2019-07-01 $199,900 (8.8%) $301,555 (7.2%) 0.63 7,175
2019-08-01 $199,655 (9.5%) $299,534 (7.8%) 0.63 7,245
2019-09-01 $199,286 (10.8%) $297,568 (8.0%) 0.64 7,371
2019-10-01 $199,000 (10.9%) $297,172 (9.1%) 0.64 7,454
2019-11-01 $194,000 (10.9%) $298,923 (10.5%) 0.64 7,144
2019-12-01 $189,900 (11.8%) $295,803 (8.6%) 0.63 6,600
2020-01-01 $189,950 (11.8%) $303,456 (11.3%) 0.63 6,170
2020-02-01 $199,999 (15.1%) $317,338 (13.9%) 0.65 5,714
2020-03-01 $214,950 (18.1%) $327,756 (13.0%) 0.67 5,456
2020-04-01 $215,000 (13.5%) $325,708 (9.5%) 0.67 5,313
2020-05-01 $225,000 (14.8%) $328,981 (8.8%) 0.68 5,494
2020-06-01 $242,473 (21.3%) $349,256 (14.9%) 0.71 5,259
2020-07-01 $249,450 (24.8%) $358,112 (18.8%) 0.72 4,984
2020-08-01 $248,900 (24.7%) $355,346 (18.6%) 0.71 4,902
2020-09-01 $243,450 (22.2%) $355,653 (19.5%) 0.70 4,879
2020-10-01 $239,900 (20.6%) $356,780 (20.1%) 0.69 4,734
2020-11-01 $239,450 (23.4%) $354,687 (18.7%) 0.70 4,382
2020-12-01 $234,850 (23.7%) $357,733 (20.9%) 0.70 3,931
2021-01-01 $239,000 (25.8%) $367,932 (21.3%) 0.71 3,414
2021-02-01 $244,950 (22.5%) $390,171 (23.0%) 0.71 2,820
2021-03-01 $249,900 (16.3%) $405,028 (23.6%) 0.71 2,704
2021-04-01 $259,000 (20.5%) $411,203 (26.3%) 0.70 2,805
2021-05-01 $260,000 (15.6%) $407,123 (23.8%) 0.69 2,978
2021-06-01 $256,900 (6.0%) $394,805 (13.0%) 0.68 3,376
2021-07-01 $239,900 (-3.8%) $368,773 (3.0%) 0.63 3,921
2021-08-01 $229,900 (-7.6%) $347,174 (-2.3%) 0.61 4,199
2021-09-01 $226,725 (-6.9%) $340,606 (-4.2%) 0.60 4,339
2021-10-01 $225,000 (-6.2%) $341,372 (-4.3%) 0.60 4,251
2021-11-01 $218,375 (-8.8%) $338,492 (-4.6%) 0.58 3,964
2021-12-01 $209,900 (-10.6%) $336,068 (-6.1%) 0.57 3,507
2022-01-01 $205,000 (-14.2%) $344,661 (-6.3%) 0.55 3,010
2022-02-01 $214,675 (-12.4%) $363,073 (-7.0%) 0.56 2,574
2022-03-01 $219,950 (-12.0%) $371,734 (-8.2%) 0.55 2,502
2022-04-01 $225,000 (-13.1%) $373,743 (-9.1%) 0.54 2,617
2022-05-01 $239,450 (-7.9%) $369,836 (-9.2%) 0.55 3,142
2022-06-01 $239,900 (-6.6%) $365,037 (-7.5%) 0.53 3,545
2022-07-01 $239,000 (-0.4%) $360,922 (-2.1%) 0.54 4,039
2022-08-01 $232,500 (1.1%) $349,328 (0.6%) 0.54 4,297
2022-09-01 $225,000 (-0.8%) $337,754 (-0.8%) 0.53 4,421
2022-10-01 $219,900 (-2.3%) $328,025 (-3.9%) 0.52 4,597
2022-11-01 $218,700 (0.2%) $326,981 (-3.4%) 0.53 4,552
Pittsburgh's median listing price for 2022-11-01 was $218,700, a difference of $325 (0.2%) versus the prior year and $-1,200 versus the prior month.

Pittsburgh's median listing price comes in at 53% of the national average.

Pittsburgh's average listing price for 2022-11-01 was $326,981, a difference of $-11,511 (-3.4%) versus the prior year and $-1,044 versus the prior month.

For the 2022-11-01 period, Pittsburgh had 4,552 MLS listings, a difference of -45 listings (-1%) versus the prior month and 588 listings (15%) 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 1,650 sqft
2018-02-01 111 days 1,658 sqft
2018-03-01 98 days 1,686 sqft
2018-04-01 71 days 1,728 sqft
2018-05-01 62 days 1,743 sqft
2018-06-01 58 days 1,716 sqft
2018-07-01 60 days 1,680 sqft
2018-08-01 64 days 1,674 sqft
2018-09-01 71 days 1,680 sqft
2018-10-01 73 days 1,664 sqft
2018-11-01 78 days 1,652 sqft
2018-12-01 89 days 1,627 sqft
2019-01-01 104 days 1,622 sqft
2019-02-01 107 days 1,629 sqft
2019-03-01 89 days 1,660 sqft
2019-04-01 66 days 1,665 sqft
2019-05-01 58 days 1,684 sqft
2019-06-01 58 days 1,700 sqft
2019-07-01 60 days 1,707 sqft
2019-08-01 62 days 1,706 sqft
2019-09-01 65 days 1,703 sqft
2019-10-01 68 days 1,700 sqft
2019-11-01 74 days 1,680 sqft
2019-12-01 87 days 1,664 sqft
2020-01-01 98 days 1,681 sqft
2020-02-01 96 days 1,712 sqft
2020-03-01 76 days 1,724 sqft
2020-04-01 84 days 1,743 sqft
2020-05-01 88 days 1,766 sqft
2020-06-01 85 days 1,799 sqft
2020-07-01 54 days 1,796 sqft
2020-08-01 54 days 1,780 sqft
2020-09-01 54 days 1,745 sqft
2020-10-01 58 days 1,716 sqft
2020-11-01 65 days 1,680 sqft
2020-12-01 75 days 1,680 sqft
2021-01-01 88 days 1,680 sqft
2021-02-01 89 days 1,678 sqft
2021-03-01 68 days 1,694 sqft
2021-04-01 45 days 1,706 sqft
2021-05-01 45 days 1,700 sqft
2021-06-01 41 days 1,689 sqft
2021-07-01 39 days 1,624 sqft
2021-08-01 41 days 1,604 sqft
2021-09-01 46 days 1,602 sqft
2021-10-01 50 days 1,588 sqft
2021-11-01 55 days 1,567 sqft
2021-12-01 65 days 1,554 sqft
2022-01-01 78 days 1,560 sqft
2022-02-01 79 days 1,609 sqft
2022-03-01 58 days 1,605 sqft
2022-04-01 40 days 1,630 sqft
2022-05-01 37 days 1,626 sqft
2022-06-01 37 days 1,627 sqft
2022-07-01 39 days 1,632 sqft
2022-08-01 44 days 1,620 sqft
2022-09-01 51 days 1,591 sqft
2022-10-01 54 days 1,584 sqft
2022-11-01 59 days 1,569 sqft
Pittsburgh's median listing age (time on market) for 2022-11-01 was 59 days. This is 7% longer than the same period one year ago.

Pittsburgh's median square footage for active listings during the 2022-11-01 period was 1,569 sqft. One year prior, the average listing was 1,567 sqft.