Pittsfield USDA Loans

PITTSFIELD, MA

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.

Pittsfield's 7 lenders originated 29 USDA loans during 2021. The total origination value was $5,765,000, with an average USDA loan value of $198,793.

Pittsfield USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Pittsfield averaged 5.35% for the week of 2022-08-05, compared to the national average (all USDA variants) of 5.294% for the same period.

The average rate for the prior week (2022-07-29) was 5.28% and one month ago for the week of 2022-07-01, the average rate was 5.81%.

The average rate one year ago was 3.1%.

For refis of the same type during the week of 2022-08-05, the average rate was 5.07%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Pittsfield 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 Pittsfield level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Adams Community Bank 12 3.34% $4,407
ACADEMY MORTGAGE CORPORATION 11 3.52% $7,262
Republic State Mortgage Co. 2 2.88% $8,176
Sierra Pacific Mortgage Company, Inc. 1 2.88% $6,985
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.63% $4,699
AMERICAN FINANCIAL NETWORK, INC. 1 2.88% $10,035
NORTHPOINT MORTGAGE, INC. 1 2.75% $8,615

The top Pittsfield USDA lender as defined by loan originations is Adams Community Bank, with 12 USDA loans originated. Their average total fees are $4,407, which is $2,855 lower than the next largest lender, ACADEMY MORTGAGE CORPORATION.

The lowest fee Pittsfield USDA lenders (with over 10 loans originated) are Adams Community Bank ($4,407), ACADEMY MORTGAGE CORPORATION ($7,262), .

The lowest rate Pittsfield USDA lenders (with over 10 loans originated) are Adams Community Bank (3.34%), ACADEMY MORTGAGE CORPORATION (3.52%), .