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 6.21% for the week of 2024-11-08, compared to the national average (all USDA variants) of 6.477% for the same period.

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

    The average rate for the prior week (2024-11-01) was 6.18% and one month ago for the week of 2024-10-04, the average rate was 5.71%.

    The average rate one year ago was 7.44%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.53%.

    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%).