Pittsburgh USDA Loans
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
5.43%
for the week of 2022-05-20, compared to the national average (all USDA variants) of
5.315% for the same period.
The average rate for the prior week (2022-05-13) was
5.41% and
one month ago for the week of 2022-04-15, the
average rate was 5.01%.
The average rate one year ago was 3.16%.
For refis of the same type during the week of 2022-05-20, the average rate
was 4.96%.
Pittsburgh USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Pittsburgh level.
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $170,000 (9.7%) | $261,913 (6.9%) | 0.63 | 7,787 |
2018-02-01 | $172,500 (8.9%) | $267,949 (6.8%) | 0.62 | 7,298 |
2018-03-01 | $179,900 (9.1%) | $281,372 (7.7%) | 0.62 | 7,052 |
2018-04-01 | $187,750 (10.5%) | $287,343 (7.7%) | 0.63 | 7,111 |
2018-05-01 | $189,900 (8.6%) | $290,644 (7.2%) | 0.63 | 7,350 |
2018-06-01 | $189,000 (5.1%) | $285,803 (5.5%) | 0.63 | 7,687 |
2018-07-01 | $187,700 (4.3%) | $283,957 (4.6%) | 0.63 | 7,952 |
2018-08-01 | $185,950 (3.4%) | $280,188 (4.1%) | 0.62 | 8,144 |
2018-09-01 | $184,900 (2.8%) | $277,416 (3.9%) | 0.62 | 8,252 |
2018-10-01 | $179,950 (2.3%) | $275,090 (4.2%) | 0.60 | 8,389 |
2018-11-01 | $177,000 (-1.1%) | $273,059 (2.8%) | 0.59 | 8,136 |
2018-12-01 | $173,900 (-0.6%) | $274,286 (4.7%) | 0.60 | 7,565 |
2019-01-01 | $171,250 (0.7%) | $274,817 (4.9%) | 0.59 | 7,180 |
2019-02-01 | $175,400 (1.7%) | $280,871 (4.8%) | 0.59 | 6,748 |
2019-03-01 | $184,186 (2.4%) | $292,170 (3.8%) | 0.60 | 6,530 |
2019-04-01 | $189,900 (1.2%) | $299,130 (4.1%) | 0.60 | 6,479 |
2019-05-01 | $197,450 (4.0%) | $302,885 (4.2%) | 0.61 | 6,674 |
2019-06-01 | $199,900 (5.8%) | $304,387 (6.5%) | 0.62 | 7,070 |
2019-07-01 | $199,900 (6.5%) | $302,033 (6.4%) | 0.62 | 7,369 |
2019-08-01 | $199,900 (7.5%) | $300,057 (7.1%) | 0.63 | 7,288 |
2019-09-01 | $199,900 (8.1%) | $297,732 (7.3%) | 0.63 | 7,212 |
2019-10-01 | $197,750 (9.9%) | $295,298 (7.4%) | 0.63 | 7,360 |
2019-11-01 | $194,900 (10.1%) | $297,273 (8.9%) | 0.63 | 6,999 |
2019-12-01 | $189,700 (9.1%) | $294,069 (7.2%) | 0.63 | 6,458 |
2020-01-01 | $189,900 (10.9%) | $300,862 (9.5%) | 0.63 | 6,021 |
2020-02-01 | $200,000 (14.0%) | $316,877 (12.8%) | 0.65 | 5,784 |
2020-03-01 | $214,950 (16.7%) | $326,634 (11.8%) | 0.67 | 5,521 |
2020-04-01 | $217,000 (14.3%) | $324,067 (8.3%) | 0.68 | 5,413 |
2020-05-01 | $225,000 (14.0%) | $328,230 (8.4%) | 0.68 | 5,510 |
2020-06-01 | $247,200 (23.7%) | $351,154 (15.4%) | 0.72 | 5,287 |
2020-07-01 | $249,900 (25.0%) | $359,668 (19.1%) | 0.72 | 4,982 |
2020-08-01 | $249,900 (25.0%) | $359,066 (19.7%) | 0.71 | 4,824 |
2020-09-01 | $249,900 (25.0%) | $361,718 (21.5%) | 0.71 | 4,809 |
2020-10-01 | $245,000 (23.9%) | $361,931 (22.6%) | 0.70 | 4,646 |
2020-11-01 | $240,000 (23.1%) | $359,640 (21.0%) | 0.69 | 4,297 |
2020-12-01 | $238,950 (26.0%) | $363,443 (23.6%) | 0.70 | 3,870 |
2021-01-01 | $243,500 (28.2%) | $374,484 (24.5%) | 0.72 | 3,348 |
2021-02-01 | $249,900 (25.0%) | $396,864 (25.2%) | 0.72 | 2,767 |
2021-03-01 | $257,950 (20.0%) | $414,079 (26.8%) | 0.72 | 2,623 |
2021-04-01 | $267,450 (23.3%) | $418,222 (29.1%) | 0.72 | 2,719 |
2021-05-01 | $268,000 (19.1%) | $413,019 (25.8%) | 0.71 | 2,910 |
2021-06-01 | $262,450 (6.2%) | $399,571 (13.8%) | 0.68 | 3,313 |
2021-07-01 | $247,500 (-1.0%) | $376,143 (4.6%) | 0.64 | 3,784 |
2021-08-01 | $232,500 (-7.0%) | $353,036 (-1.7%) | 0.61 | 4,113 |
2021-09-01 | $229,900 (-8.0%) | $344,807 (-4.7%) | 0.61 | 4,250 |
2021-10-01 | $225,000 (-8.2%) | $345,457 (-4.6%) | 0.59 | 4,158 |
2021-11-01 | $219,450 (-8.6%) | $340,286 (-5.4%) | 0.58 | 3,894 |
2021-12-01 | $210,000 (-12.1%) | $339,063 (-6.7%) | 0.56 | 3,453 |
2022-01-01 | $209,900 (-13.8%) | $349,138 (-6.8%) | 0.56 | 2,934 |
2022-02-01 | $215,000 (-14.0%) | $368,740 (-7.1%) | 0.55 | 2,504 |
2022-03-01 | $222,500 (-13.7%) | $374,164 (-9.6%) | 0.55 | 2,429 |
2022-04-01 | $229,000 (-14.4%) | $374,156 (-10.5%) | 0.54 | 2,530 |
Pittsburgh's median listing price comes in at 54% of the national average.
Pittsburgh's average listing price for 2022-04-01 was $374,156, a difference of $-44,066 (-10.5%) versus the prior year and $-8 versus the prior month.
For the 2022-04-01 period, Pittsburgh had 2,530 MLS listings, a difference of 101 listings (4%) versus the prior month and -189 listings (-7%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Pittsburgh (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 109 days | 1,590 sqft |
2018-02-01 | 111 days | 1,578 sqft |
2018-03-01 | 99 days | 1,548 sqft |
2018-04-01 | 70 days | 1,578 sqft |
2018-05-01 | 62 days | 1,606 sqft |
2018-06-01 | 58 days | 1,623 sqft |
2018-07-01 | 60 days | 1,678 sqft |
2018-08-01 | 65 days | 1,613 sqft |
2018-09-01 | 70 days | 1,612 sqft |
2018-10-01 | 73 days | 1,630 sqft |
2018-11-01 | 79 days | 1,627 sqft |
2018-12-01 | 90 days | 1,564 sqft |
2019-01-01 | 104 days | 1,624 sqft |
2019-02-01 | 108 days | 1,613 sqft |
2019-03-01 | 95 days | 1,592 sqft |
2019-04-01 | 68 days | 1,563 sqft |
2019-05-01 | 59 days | 1,616 sqft |
2019-06-01 | 58 days | 1,611 sqft |
2019-07-01 | 61 days | 1,624 sqft |
2019-08-01 | 64 days | 1,715 sqft |
2019-09-01 | 66 days | 1,811 sqft |
2019-10-01 | 67 days | 1,692 sqft |
2019-11-01 | 73 days | 1,679 sqft |
2019-12-01 | 86 days | 1,665 sqft |
2020-01-01 | 98 days | 1,688 sqft |
2020-02-01 | 98 days | 1,711 sqft |
2020-03-01 | 78 days | 1,721 sqft |
2020-04-01 | 83 days | 1,736 sqft |
2020-05-01 | 91 days | 1,773 sqft |
2020-06-01 | 89 days | 1,800 sqft |
2020-07-01 | 56 days | 1,800 sqft |
2020-08-01 | 55 days | 1,800 sqft |
2020-09-01 | 55 days | 1,770 sqft |
2020-10-01 | 57 days | 1,730 sqft |
2020-11-01 | 64 days | 1,700 sqft |
2020-12-01 | 73 days | 1,693 sqft |
2021-01-01 | 87 days | 1,694 sqft |
2021-02-01 | 87 days | 1,686 sqft |
2021-03-01 | 61 days | 1,706 sqft |
2021-04-01 | 44 days | 1,727 sqft |
2021-05-01 | 43 days | 1,719 sqft |
2021-06-01 | 41 days | 1,705 sqft |
2021-07-01 | 40 days | 1,657 sqft |
2021-08-01 | 42 days | 1,629 sqft |
2021-09-01 | 46 days | 1,618 sqft |
2021-10-01 | 50 days | 1,600 sqft |
2021-11-01 | 55 days | 1,585 sqft |
2021-12-01 | 65 days | 1,570 sqft |
2022-01-01 | 79 days | 1,580 sqft |
2022-02-01 | 82 days | 1,624 sqft |
2022-03-01 | 61 days | 1,629 sqft |
2022-04-01 | 42 days | 1,654 sqft |
Pittsburgh's median square footage for active listings during the 2022-04-01 period was 1,654 sqft. One year prior, the average listing was 1,727 sqft.