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 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.