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 69 lenders originated 495 USDA loans during 2022. The total origination value was $69,275,000, with an average USDA loan value of $139,949.

    Pittsburgh USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Pittsburgh averaged 6% for the week of 2023-05-26, compared to the national average (all USDA variants) of 6.63% for the same period.

    Pittsburgh's average USDA mortgage closing costs are $5,162.

    The average rate for the prior week (2023-05-19) was 6.14% and one month ago for the week of 2023-04-21, the average rate was 5.85%.

    The average rate one year ago was 4.77%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.15%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    PLAZA HOME MORTGAGE, INC. 58 4.96% $7,060
    EQUITY RESOURCES, INC. 40 5.14% $6,017
    SOMERSET TRUST COMPANY 27 4.54% $4,721
    UNION HOME MORTGAGE CORP. 24 4.74% $7,796
    DEVELOPER'S MORTGAGE COMPANY 22 5.05% $3,161
    HOME POINT FINANCIAL CORPORATION 19 5.17% $5,864
    Victorian Finance, LLC 19 4.42% $6,416
    Citizens Bank 17 4.36% $5,447
    STOCKTON MORTGAGE CORPORATION 16 4.94% $6,032
    UNITED WHOLESALE MORTGAGE, LLC 15 4.55% $7,710
    Sail Mortgage Corp. 15 4.12% $6,335
    HOWARD HANNA FINANCIAL SERVICES, INC. 14 4.81% $4,699
    RELIANCE FIRST CAPITAL, LLC 13 4.75% $5,272
    WEST PENN FINANCIAL SERVICE CENTER, INC. 13 4.94% $5,254
    Flagstar Bank, FSB 13 3.57% $4,697
    First Commonwealth Bank 12 4.20% $5,240
    TOWNE MORTGAGE COMPANY 8 5.16% $5,542
    CROSSCOUNTRY MORTGAGE, LLC 7 4.42% $6,343
    ASSOCIATED MORTGAGE BANKERS, INC. 6 4.19% $6,688
    EVANSVILLE TEACHERS 6 3.98% $5,166
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 5.06% $6,032
    PLANET HOME LENDING, LLC 5 5.00% $5,634
    GUARANTEED RATE AFFINITY, LLC 5 4.73% $6,494
    First National Bank of Pennsylvania 5 4.78% $5,908
    EMM LOANS LLC 5 3.93% $5,853
    ALLIED MORTGAGE GROUP, INC. 4 4.91% $7,429
    AMCAP MORTGAGE, LTD. 4 5.44% $7,665
    Bank of England 4 5.22% $5,685
    CALIBER HOME LOANS, INC. 4 4.00% $7,411
    FEDERATED MORTGAGE CORP. 4 5.09% $5,409
    Nations Lending Corporation 4 5.03% $2,894
    Paramount Residential Mortgage Group, Inc. 4 5.31% $6,014
    Union Savings Bank 4 4.31% $4,694
    WELCOME HOME FINANCE, L.P. 4 5.63% $3,383
    U.S. Bank 3 5.04% $5,091
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.08% $5,092
    CARDINAL FINANCIAL 3 5.38% $6,474
    Princeton Mortgage Corporation 3 3.58% $6,779
    LIBERTY HOME MORTGAGE CORPORATION 2 4.50% $10,819
    MICHIGAN MUTUAL, INC. 2 5.38% $6,221
    Mortgage Research Center, LLC 2 5.06% $4,036
    NATIONWIDE MORTGAGE BANKERS, INC. 2 6.75% $8,190
    First Federal Bank of the Midwest 2 3.75% $5,860
    FINANCE OF AMERICA MORTGAGE LLC 2 3.99% $6,117
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.75% $5,497
    Equity Prime Mortgage LLC 2 5.50% $3,964
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.25% $5,607
    GUILD MORTGAGE COMPANY 2 4.63% $6,189
    PNC Bank 1 4.38% $4,355
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.00% $4,983
    First Guaranty Mortgage Corporation 1 4.75% $7,818
    Northpointe Bank 1 4.50% $6,620
    Prosperity Home Mortgage, LLC 1 5.63% $5,160
    MOVEMENT MORTGAGE, LLC 1 5.75% $8,514
    CONTOUR MORTGAGE CORPORATION 1 4.00% $8,887
    Clear Mountain Bank 1 5.50% $4,818
    NEWREZ LLC 1 7.13% $4,616
    The Huntington National Bank 1 3.88% $6,471
    BROKER SOLUTIONS, INC. 1 7.25% $5,755
    BAYSHORE MORTGAGE FUNDING, LLC 1 3.63% $6,098
    WesBanco Bank, Inc. 1 3.25% $5,851
    UNITED MORTGAGE CORP. 1 5.75% $7,493
    Barrington Bank & Trust Company, N.A. 1 5.25% $12,806
    Northwest Bank 1 3.00% $3,848
    NORWICH COMMERCIAL GROUP, INC. 1 3.50% $4,707
    American Financial Mortgage Corporation 1 3.75% $8,007
    PENNYMAC LOAN SERVICES, LLC 1 2.88% $7,267
    Waterstone Mortgage Corporation 1 5.63% $7,028
    GUARANTEED RATE, INC. 1 5.75% $6,939

    The top Pittsburgh USDA lender as defined by loan originations is PLAZA HOME MORTGAGE, INC., with 58 USDA loans originated. Their average total fees are $7,060, which is $1,043 higher than the next largest lender, EQUITY RESOURCES, INC..

    The lowest fee Pittsburgh USDA lenders (with over 10 loans originated) are DEVELOPER'S MORTGAGE COMPANY ($3,161), Flagstar Bank, FSB ($4,697), HOWARD HANNA FINANCIAL SERVICES, INC. ($4,699), SOMERSET TRUST COMPANY ($4,721) and First Commonwealth Bank ($5,240).

    The lowest rate Pittsburgh USDA lenders (with over 10 loans originated) are Flagstar Bank, FSB (3.57%), Sail Mortgage Corp. (4.12%), First Commonwealth Bank (4.20%), Citizens Bank (4.36%) and Victorian Finance, LLC (4.42%).

    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%) $260,220 (6.9%) 0.63 7,638
    2018-02-01 $169,900 (9.7%) $265,383 (6.6%) 0.62 7,156
    2018-03-01 $179,900 (11.4%) $279,024 (7.5%) 0.63 6,923
    2018-04-01 $184,900 (9.8%) $285,038 (7.4%) 0.63 6,960
    2018-05-01 $188,425 (10.1%) $288,764 (7.4%) 0.63 7,194
    2018-06-01 $184,900 (5.7%) $282,786 (5.0%) 0.62 7,536
    2018-07-01 $183,750 (2.1%) $281,272 (4.0%) 0.61 7,817
    2018-08-01 $182,400 (2.4%) $277,899 (3.9%) 0.61 7,964
    2018-09-01 $179,900 (2.8%) $275,548 (3.8%) 0.60 8,059
    2018-10-01 $179,450 (2.6%) $272,377 (4.0%) 0.61 8,183
    2018-11-01 $174,950 (0.0%) $270,499 (2.7%) 0.59 7,938
    2018-12-01 $169,900 (-0.1%) $272,292 (4.6%) 0.59 7,395
    2019-01-01 $169,900 (0.0%) $272,667 (4.8%) 0.59 7,000
    2019-02-01 $173,575 (2.2%) $278,509 (5.0%) 0.59 6,567
    2019-03-01 $179,900 (0.0%) $290,792 (4.2%) 0.60 6,321
    2019-04-01 $189,900 (2.7%) $298,404 (4.7%) 0.60 6,372
    2019-05-01 $195,950 (4.0%) $302,247 (4.7%) 0.61 6,526
    2019-06-01 $199,900 (8.1%) $303,869 (7.5%) 0.62 6,888
    2019-07-01 $199,900 (8.8%) $301,611 (7.2%) 0.63 7,162
    2019-08-01 $200,000 (9.7%) $302,303 (8.8%) 0.63 7,196
    2019-09-01 $199,900 (11.1%) $304,036 (10.3%) 0.63 6,900
    2019-10-01 $199,000 (10.9%) $297,578 (9.3%) 0.64 7,464
    2019-11-01 $194,000 (10.9%) $299,052 (10.6%) 0.64 7,129
    2019-12-01 $189,900 (11.8%) $295,967 (8.7%) 0.63 6,584
    2020-01-01 $189,950 (11.8%) $303,691 (11.4%) 0.63 6,154
    2020-02-01 $200,000 (15.2%) $317,629 (14.1%) 0.65 5,698
    2020-03-01 $214,950 (19.5%) $328,028 (12.8%) 0.67 5,440
    2020-04-01 $216,175 (13.8%) $325,916 (9.2%) 0.68 5,297
    2020-05-01 $225,000 (14.8%) $329,164 (8.9%) 0.68 5,478
    2020-06-01 $242,500 (21.3%) $349,537 (15.0%) 0.71 5,243
    2020-07-01 $249,450 (24.8%) $358,438 (18.8%) 0.72 4,968
    2020-08-01 $249,000 (24.5%) $355,664 (17.7%) 0.71 4,886
    2020-09-01 $243,950 (22.0%) $355,976 (17.1%) 0.70 4,863
    2020-10-01 $239,900 (20.6%) $357,115 (20.0%) 0.69 4,718
    2020-11-01 $239,450 (23.4%) $355,035 (18.7%) 0.70 4,366
    2020-12-01 $234,900 (23.7%) $358,139 (21.0%) 0.70 3,915
    2021-01-01 $239,000 (25.8%) $368,448 (21.3%) 0.71 3,398
    2021-02-01 $245,000 (22.5%) $390,907 (23.1%) 0.71 2,804
    2021-03-01 $249,900 (16.3%) $405,843 (23.7%) 0.71 2,688
    2021-04-01 $259,812 (20.2%) $412,036 (26.4%) 0.70 2,789
    2021-05-01 $260,000 (15.6%) $407,848 (23.9%) 0.69 2,961
    2021-06-01 $256,950 (6.0%) $395,328 (13.1%) 0.68 3,362
    2021-07-01 $239,999 (-3.8%) $369,150 (3.0%) 0.63 3,911
    2021-08-01 $229,900 (-7.7%) $347,530 (-2.3%) 0.61 4,188
    2021-09-01 $227,000 (-7.0%) $340,966 (-4.2%) 0.61 4,327
    2021-10-01 $225,000 (-6.2%) $341,660 (-4.3%) 0.60 4,238
    2021-11-01 $219,000 (-8.5%) $338,716 (-4.6%) 0.59 3,950
    2021-12-01 $209,900 (-10.6%) $336,424 (-6.1%) 0.57 3,492
    2022-01-01 $205,000 (-14.2%) $345,100 (-6.3%) 0.55 2,994
    2022-02-01 $214,900 (-12.3%) $363,578 (-7.0%) 0.56 2,556
    2022-03-01 $219,950 (-12.0%) $372,279 (-8.3%) 0.55 2,485
    2022-04-01 $225,000 (-13.4%) $374,306 (-9.2%) 0.54 2,600
    2022-05-01 $239,450 (-7.9%) $370,290 (-9.2%) 0.55 3,127
    2022-06-01 $239,900 (-6.6%) $365,378 (-7.6%) 0.53 3,529
    2022-07-01 $239,000 (-0.4%) $361,229 (-2.2%) 0.54 4,024
    2022-08-01 $232,500 (1.1%) $349,532 (0.6%) 0.54 4,281
    2022-09-01 $225,000 (-0.9%) $337,871 (-0.9%) 0.53 4,405
    2022-10-01 $219,900 (-2.3%) $328,147 (-4.0%) 0.52 4,581
    2022-11-01 $218,925 (0.0%) $327,223 (-3.4%) 0.53 4,536
    2022-12-01 $209,698 (-0.1%) $324,476 (-3.6%) 0.52 4,186
    2023-01-01 $199,950 (-2.5%) $326,197 (-5.5%) 0.49 3,706
    2023-02-01 $200,000 (-6.9%) $335,684 (-7.7%) 0.48 3,307
    2023-03-01 $215,000 (-2.3%) $347,872 (-6.6%) 0.51 3,156
    2023-04-01 $225,000 (0.0%) $358,318 (-4.3%) 0.52 3,276
    Pittsburgh's median listing price for 2023-04-01 was $225,000, a difference of $0 (0.0%) versus the prior year and $10,000 versus the prior month.

    Pittsburgh's median listing price comes in at 52% of the national average.

    Pittsburgh's average listing price for 2023-04-01 was $358,318, a difference of $-15,988 (-4.3%) versus the prior year and $10,446 versus the prior month.

    For the 2023-04-01 period, Pittsburgh had 3,276 MLS listings, a difference of 120 listings (4%) versus the prior month and 676 listings (26%) 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 1,654 sqft
    2018-02-01 111 days 1,662 sqft
    2018-03-01 98 days 1,700 sqft
    2018-04-01 71 days 1,741 sqft
    2018-05-01 62 days 1,752 sqft
    2018-06-01 58 days 1,719 sqft
    2018-07-01 60 days 1,680 sqft
    2018-08-01 64 days 1,673 sqft
    2018-09-01 71 days 1,680 sqft
    2018-10-01 74 days 1,664 sqft
    2018-11-01 78 days 1,650 sqft
    2018-12-01 89 days 1,632 sqft
    2019-01-01 104 days 1,624 sqft
    2019-02-01 107 days 1,632 sqft
    2019-03-01 94 days 1,664 sqft
    2019-04-01 66 days 1,666 sqft
    2019-05-01 58 days 1,690 sqft
    2019-06-01 58 days 1,704 sqft
    2019-07-01 59 days 1,713 sqft
    2019-08-01 67 days 1,722 sqft
    2019-09-01 72 days 1,703 sqft
    2019-10-01 67 days 1,699 sqft
    2019-11-01 74 days 1,680 sqft
    2019-12-01 87 days 1,663 sqft
    2020-01-01 97 days 1,681 sqft
    2020-02-01 96 days 1,712 sqft
    2020-03-01 75 days 1,725 sqft
    2020-04-01 84 days 1,741 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 53 days 1,781 sqft
    2020-09-01 54 days 1,744 sqft
    2020-10-01 57 days 1,716 sqft
    2020-11-01 65 days 1,681 sqft
    2020-12-01 74 days 1,680 sqft
    2021-01-01 88 days 1,679 sqft
    2021-02-01 89 days 1,678 sqft
    2021-03-01 67 days 1,693 sqft
    2021-04-01 45 days 1,708 sqft
    2021-05-01 45 days 1,700 sqft
    2021-06-01 40 days 1,689 sqft
    2021-07-01 39 days 1,627 sqft
    2021-08-01 41 days 1,607 sqft
    2021-09-01 46 days 1,602 sqft
    2021-10-01 50 days 1,587 sqft
    2021-11-01 55 days 1,567 sqft
    2021-12-01 65 days 1,553 sqft
    2022-01-01 78 days 1,562 sqft
    2022-02-01 78 days 1,612 sqft
    2022-03-01 57 days 1,608 sqft
    2022-04-01 40 days 1,628 sqft
    2022-05-01 37 days 1,624 sqft
    2022-06-01 37 days 1,621 sqft
    2022-07-01 39 days 1,624 sqft
    2022-08-01 44 days 1,615 sqft
    2022-09-01 50 days 1,588 sqft
    2022-10-01 54 days 1,576 sqft
    2022-11-01 59 days 1,570 sqft
    2022-12-01 72 days 1,554 sqft
    2023-01-01 86 days 1,549 sqft
    2023-02-01 89 days 1,540 sqft
    2023-03-01 65 days 1,568 sqft
    2023-04-01 47 days 1,600 sqft
    Pittsburgh's median listing age (time on market) for 2023-04-01 was 47 days. This is 18% longer than the same period one year ago.

    Pittsburgh's median square footage for active listings during the 2023-04-01 period was 1,600 sqft. One year prior, the average listing was 1,628 sqft.