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 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 6.57% for the week of 2024-05-24, compared to the national average (all USDA variants) of 6.738% for the same period.

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

The average rate for the prior week (2024-05-17) was 6.55% and one month ago for the week of 2024-04-19, the average rate was 6.79%.

The average rate one year ago was 6.3%.

For refis of the same type during the week of 2024-05-24, the average rate was 6.69%.

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%).


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 (11.2%) $260,197 (6.9%) 0.63 7,641
2018-02-01 $169,900 (9.7%) $265,316 (6.6%) 0.62 7,160
2018-03-01 $179,900 (11.4%) $279,002 (7.6%) 0.63 6,925
2018-04-01 $184,900 (9.4%) $285,004 (7.5%) 0.63 6,961
2018-05-01 $188,375 (9.4%) $288,647 (7.4%) 0.63 7,196
2018-06-01 $184,900 (5.7%) $282,702 (5.0%) 0.62 7,538
2018-07-01 $183,750 (2.1%) $281,232 (4.0%) 0.61 7,818
2018-08-01 $182,400 (2.2%) $277,909 (3.9%) 0.61 7,963
2018-09-01 $179,900 (2.8%) $275,367 (3.8%) 0.60 8,057
2018-10-01 $179,450 (2.6%) $272,269 (3.9%) 0.61 8,183
2018-11-01 $174,950 (0.0%) $270,349 (2.6%) 0.59 7,937
2018-12-01 $169,900 (-0.1%) $272,128 (4.6%) 0.59 7,394
2019-01-01 $169,900 (0.0%) $272,520 (4.7%) 0.59 6,999
2019-02-01 $173,700 (2.2%) $278,319 (4.9%) 0.59 6,566
2019-03-01 $181,929 (1.1%) $289,869 (3.9%) 0.59 6,381
2019-04-01 $189,450 (2.5%) $297,075 (4.2%) 0.60 6,375
2019-05-01 $196,000 (4.1%) $302,227 (4.7%) 0.61 6,525
2019-06-01 $199,900 (8.1%) $304,008 (7.5%) 0.62 6,886
2019-07-01 $199,900 (8.8%) $301,682 (7.3%) 0.63 7,163
2019-08-01 $199,655 (9.5%) $299,674 (7.8%) 0.63 7,234
2019-09-01 $199,286 (10.8%) $297,740 (8.1%) 0.64 7,360
2019-10-01 $199,000 (10.9%) $297,386 (9.2%) 0.64 7,444
2019-11-01 $194,000 (10.9%) $299,103 (10.6%) 0.64 7,132
2019-12-01 $189,900 (11.8%) $296,088 (8.8%) 0.63 6,588
2020-01-01 $190,125 (11.9%) $303,760 (11.5%) 0.64 6,159
2020-02-01 $200,000 (15.1%) $317,723 (14.2%) 0.65 5,703
2020-03-01 $214,950 (18.2%) $327,937 (13.1%) 0.67 5,449
2020-04-01 $216,850 (14.5%) $325,812 (9.7%) 0.68 5,305
2020-05-01 $225,000 (14.8%) $329,035 (8.9%) 0.68 5,485
2020-06-01 $242,500 (21.3%) $349,353 (14.9%) 0.71 5,252
2020-07-01 $249,450 (24.8%) $358,188 (18.7%) 0.72 4,978
2020-08-01 $249,000 (24.7%) $355,499 (18.6%) 0.71 4,896
2020-09-01 $243,950 (22.4%) $355,825 (19.5%) 0.70 4,874
2020-10-01 $239,900 (20.6%) $357,081 (20.1%) 0.69 4,724
2020-11-01 $239,450 (23.4%) $354,996 (18.7%) 0.70 4,372
2020-12-01 $234,900 (23.7%) $358,137 (21.0%) 0.70 3,920
2021-01-01 $239,000 (25.7%) $368,453 (21.3%) 0.71 3,402
2021-02-01 $245,000 (22.5%) $390,979 (23.1%) 0.71 2,806
2021-03-01 $249,900 (16.3%) $405,813 (23.8%) 0.71 2,691
2021-04-01 $259,812 (19.8%) $412,056 (26.5%) 0.70 2,791
2021-05-01 $260,000 (15.6%) $407,935 (24.0%) 0.69 2,962
2021-06-01 $257,075 (6.0%) $395,403 (13.2%) 0.68 3,363
2021-07-01 $239,900 (-3.8%) $369,072 (3.0%) 0.63 3,912
2021-08-01 $229,900 (-7.7%) $347,609 (-2.2%) 0.61 4,191
2021-09-01 $227,000 (-7.0%) $341,042 (-4.2%) 0.61 4,331
2021-10-01 $225,000 (-6.2%) $341,720 (-4.3%) 0.60 4,241
2021-11-01 $219,000 (-8.5%) $338,090 (-4.8%) 0.59 3,951
2021-12-01 $209,900 (-10.6%) $335,818 (-6.2%) 0.57 3,492
2022-01-01 $205,000 (-14.2%) $343,579 (-6.8%) 0.55 2,992
2022-02-01 $214,900 (-12.3%) $362,623 (-7.3%) 0.56 2,555
2022-03-01 $219,950 (-12.0%) $371,259 (-8.5%) 0.55 2,484
2022-04-01 $225,000 (-13.4%) $373,309 (-9.4%) 0.54 2,600
2022-05-01 $239,900 (-7.7%) $370,445 (-9.2%) 0.55 3,128
2022-06-01 $239,900 (-6.7%) $365,436 (-7.6%) 0.53 3,530
2022-07-01 $239,900 (0.0%) $361,240 (-2.1%) 0.54 4,024
2022-08-01 $232,500 (1.1%) $349,765 (0.6%) 0.54 4,281
2022-09-01 $225,000 (-0.9%) $337,936 (-0.9%) 0.53 4,405
2022-10-01 $219,900 (-2.3%) $328,287 (-3.9%) 0.52 4,582
2022-11-01 $218,950 (0.0%) $327,304 (-3.2%) 0.53 4,536
2022-12-01 $209,698 (-0.1%) $324,476 (-3.4%) 0.52 4,186
2023-01-01 $199,950 (-2.5%) $326,334 (-5.0%) 0.50 3,706
2023-02-01 $200,000 (-6.9%) $335,855 (-7.4%) 0.48 3,307
2023-03-01 $215,000 (-2.3%) $347,938 (-6.3%) 0.51 3,156
2023-04-01 $225,000 (0.0%) $358,425 (-4.0%) 0.52 3,278
2023-05-01 $238,125 (-0.7%) $370,023 (-0.1%) 0.54 3,241
2023-06-01 $239,950 (0.0%) $386,111 (5.7%) 0.54 3,496
2023-07-01 $249,000 (3.8%) $384,586 (6.5%) 0.57 3,671
2023-08-01 $249,900 (7.5%) $395,709 (13.1%) 0.57 3,831
2023-09-01 $248,750 (10.6%) $390,618 (15.6%) 0.58 4,075
2023-10-01 $246,750 (12.2%) $387,649 (18.1%) 0.58 4,358
2023-11-01 $239,900 (9.6%) $384,098 (17.4%) 0.57 4,431
2023-12-01 $239,000 (14.0%) $388,298 (19.7%) 0.58 4,175
2024-01-01 $234,950 (17.5%) $387,140 (18.6%) 0.57 3,837
2024-02-01 $232,450 (16.2%) $395,913 (17.9%) 0.56 3,509
2024-03-01 $239,900 (11.6%) $408,105 (17.3%) 0.56 3,496
2024-04-01 $249,900 (11.1%) $411,961 (14.9%) 0.58 3,499
Pittsburgh's median listing price for 2024-04-01 was $249,900, a difference of $24,900 (11.1%) versus the prior year and $10,000 versus the prior month.

Pittsburgh's median listing price comes in at 58% of the national average.

Pittsburgh's average listing price for 2024-04-01 was $411,961, a difference of $53,536 (14.9%) versus the prior year and $3,856 versus the prior month.

For the 2024-04-01 period, Pittsburgh had 3,499 MLS listings, a difference of 3 listings (0%) versus the prior month and 221 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. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 109 days 1,665 sqft
2018-02-01 111 days 1,679 sqft
2018-03-01 96 days 1,704 sqft
2018-04-01 70 days 1,742 sqft
2018-05-01 62 days 1,745 sqft
2018-06-01 57 days 1,726 sqft
2018-07-01 59 days 1,701 sqft
2018-08-01 63 days 1,688 sqft
2018-09-01 69 days 1,696 sqft
2018-10-01 73 days 1,671 sqft
2018-11-01 77 days 1,664 sqft
2018-12-01 88 days 1,644 sqft
2019-01-01 102 days 1,632 sqft
2019-02-01 104 days 1,645 sqft
2019-03-01 88 days 1,674 sqft
2019-04-01 65 days 1,683 sqft
2019-05-01 58 days 1,710 sqft
2019-06-01 57 days 1,723 sqft
2019-07-01 59 days 1,729 sqft
2019-08-01 61 days 1,720 sqft
2019-09-01 65 days 1,709 sqft
2019-10-01 67 days 1,697 sqft
2019-11-01 73 days 1,678 sqft
2019-12-01 87 days 1,659 sqft
2020-01-01 96 days 1,678 sqft
2020-02-01 95 days 1,705 sqft
2020-03-01 74 days 1,718 sqft
2020-04-01 83 days 1,731 sqft
2020-05-01 88 days 1,760 sqft
2020-06-01 83 days 1,796 sqft
2020-07-01 53 days 1,790 sqft
2020-08-01 53 days 1,771 sqft
2020-09-01 53 days 1,739 sqft
2020-10-01 56 days 1,711 sqft
2020-11-01 64 days 1,679 sqft
2020-12-01 74 days 1,679 sqft
2021-01-01 87 days 1,676 sqft
2021-02-01 87 days 1,681 sqft
2021-03-01 65 days 1,700 sqft
2021-04-01 44 days 1,704 sqft
2021-05-01 44 days 1,701 sqft
2021-06-01 40 days 1,692 sqft
2021-07-01 39 days 1,632 sqft
2021-08-01 41 days 1,606 sqft
2021-09-01 46 days 1,599 sqft
2021-10-01 50 days 1,585 sqft
2021-11-01 55 days 1,565 sqft
2021-12-01 65 days 1,554 sqft
2022-01-01 78 days 1,560 sqft
2022-02-01 78 days 1,612 sqft
2022-03-01 57 days 1,609 sqft
2022-04-01 39 days 1,627 sqft
2022-05-01 37 days 1,626 sqft
2022-06-01 37 days 1,621 sqft
2022-07-01 39 days 1,626 sqft
2022-08-01 44 days 1,617 sqft
2022-09-01 50 days 1,587 sqft
2022-10-01 54 days 1,573 sqft
2022-11-01 59 days 1,568 sqft
2022-12-01 72 days 1,548 sqft
2023-01-01 86 days 1,542 sqft
2023-02-01 89 days 1,542 sqft
2023-03-01 64 days 1,573 sqft
2023-04-01 46 days 1,602 sqft
2023-05-01 46 days 1,614 sqft
2023-06-01 47 days 1,636 sqft
2023-07-01 47 days 1,632 sqft
2023-08-01 48 days 1,653 sqft
2023-09-01 51 days 1,620 sqft
2023-10-01 51 days 1,608 sqft
2023-11-01 53 days 1,595 sqft
2023-12-01 66 days 1,571 sqft
2024-01-01 79 days 1,571 sqft
2024-02-01 75 days 1,578 sqft
2024-03-01 55 days 1,592 sqft
2024-04-01 51 days 1,610 sqft
Pittsburgh's median listing age (time on market) for 2024-04-01 was 51 days. This is 10% longer than the same period one year ago.

Pittsburgh's median square footage for active listings during the 2024-04-01 period was 1,610 sqft. One year prior, the average listing was 1,602 sqft.