Reading USDA Loan Rates, Closing Costs & Stats

READING, 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.

    Reading's 17 lenders originated 39 USDA loans during 2022. The total origination value was $7,745,000, with an average USDA loan value of $198,590.

    Reading USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Reading averaged -0.22% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

    Reading's average USDA mortgage closing costs are $5,719.

    The average rate for the prior week (2023-11-17) was 7.07% and one month ago for the week of 2023-10-20, the average rate was 7.19%.

    The average rate one year ago was 6.53%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.25%.

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

    Reading 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 Reading level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    Mortgage America, Inc. 9 5.33% $6,540
    Northpointe Bank 6 4.23% $7,971
    CROSSCOUNTRY MORTGAGE, LLC 4 5.09% $7,680
    HOME POINT FINANCIAL CORPORATION 4 4.03% $6,665
    CHERRY CREEK MORTGAGE, LLC 2 4.31% $1,396
    SUCCESS MORTGAGE PARTNERS, INC. 2 4.69% $5,654
    First National Bank of Pennsylvania 1 5.25% $7,567
    MOVEMENT MORTGAGE, LLC 1 2.75% $12,933
    NEWREZ LLC 1 7.13% $5,109
    NP, Inc. 1 4.13% $6,965
    Bank of England 1 5.63% $7,103
    UNITED WHOLESALE MORTGAGE, LLC 1 5.99% $7,589
    CONTOUR MORTGAGE CORPORATION 1 5.63% $6,299
    ENVOY MORTGAGE, LTD 1 5.25% $8,364
    Equity Prime Mortgage LLC 1 3.75% $5,815
    FINANCE OF AMERICA MORTGAGE LLC 1 3.38% $6,334
    FIRST HERITAGE FINANCIAL, LLC 1 3.00% $4,767

    The top Reading USDA lender as defined by loan originations is Mortgage America, Inc., with 9 USDA loans originated. Their average total fees are $6,540, which is $1,431 lower than the next largest lender, Northpointe Bank.

    The lowest fee Reading USDA lenders (with over 10 loans originated) are .

    The lowest rate Reading USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Reading (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 $171,945 (1.2%) $224,736 (3.4%) 0.64 1,243
    2018-02-01 $174,950 (0.6%) $224,422 (0.6%) 0.64 1,161
    2018-03-01 $179,900 (2.8%) $232,785 (4.0%) 0.63 1,102
    2018-04-01 $187,475 (1.3%) $237,518 (3.8%) 0.64 1,158
    2018-05-01 $199,900 (4.1%) $247,800 (6.9%) 0.67 1,190
    2018-06-01 $209,990 (10.6%) $256,687 (9.8%) 0.70 1,252
    2018-07-01 $209,050 (8.2%) $255,063 (7.9%) 0.70 1,253
    2018-08-01 $210,500 (12.4%) $255,859 (9.1%) 0.71 1,253
    2018-09-01 $209,900 (16.7%) $253,221 (9.4%) 0.71 1,254
    2018-10-01 $209,950 (16.7%) $255,392 (10.3%) 0.71 1,245
    2018-11-01 $209,900 (20.2%) $254,543 (12.5%) 0.71 1,239
    2018-12-01 $204,990 (17.2%) $251,406 (9.4%) 0.71 1,176
    2019-01-01 $199,948 (16.3%) $251,747 (12.0%) 0.69 1,071
    2019-02-01 $199,945 (14.3%) $256,610 (14.3%) 0.68 1,009
    2019-03-01 $208,471 (15.9%) $261,609 (12.4%) 0.68 997
    2019-04-01 $222,400 (18.6%) $268,665 (13.1%) 0.71 988
    2019-05-01 $222,400 (11.3%) $269,590 (8.8%) 0.70 1,008
    2019-06-01 $220,000 (4.8%) $268,804 (4.7%) 0.69 1,032
    2019-07-01 $219,900 (5.2%) $265,746 (4.2%) 0.69 1,097
    2019-08-01 $218,991 (4.0%) $269,098 (5.2%) 0.69 1,078
    2019-09-01 $225,127 (7.3%) $273,852 (8.2%) 0.72 1,045
    2019-10-01 $232,423 (10.7%) $278,512 (9.1%) 0.75 999
    2019-11-01 $235,000 (12.0%) $280,092 (10.0%) 0.77 953
    2019-12-01 $233,725 (14.0%) $281,449 (12.0%) 0.78 841
    2020-01-01 $229,950 (15.0%) $282,298 (12.1%) 0.77 770
    2020-02-01 $247,300 (23.7%) $287,164 (11.9%) 0.81 717
    2020-03-01 $259,900 (24.7%) $297,699 (13.8%) 0.81 674
    2020-04-01 $274,400 (23.4%) $313,554 (16.7%) 0.86 592
    2020-05-01 $259,900 (16.9%) $302,981 (12.4%) 0.79 618
    2020-06-01 $249,950 (13.6%) $306,332 (14.0%) 0.74 586
    2020-07-01 $270,725 (23.1%) $326,177 (22.7%) 0.78 485
    2020-08-01 $270,000 (23.3%) $321,979 (19.7%) 0.77 478
    2020-09-01 $259,950 (15.5%) $317,509 (15.9%) 0.74 476
    2020-10-01 $264,900 (14.0%) $325,720 (17.0%) 0.76 459
    2020-11-01 $267,400 (13.8%) $315,915 (12.8%) 0.78 464
    2020-12-01 $261,150 (11.7%) $311,097 (10.5%) 0.78 431
    2021-01-01 $259,000 (12.6%) $316,954 (12.3%) 0.77 366
    2021-02-01 $284,900 (15.2%) $346,614 (20.7%) 0.83 284
    2021-03-01 $288,450 (11.0%) $354,445 (19.1%) 0.82 273
    2021-04-01 $278,250 (1.4%) $342,029 (9.1%) 0.75 284
    2021-05-01 $274,900 (5.8%) $339,512 (12.1%) 0.73 312
    2021-06-01 $237,500 (-5.0%) $314,919 (2.8%) 0.63 406
    2021-07-01 $248,990 (-8.0%) $322,760 (-1.1%) 0.66 413
    2021-08-01 $245,995 (-8.9%) $315,320 (-2.1%) 0.66 447
    2021-09-01 $242,450 (-6.7%) $312,485 (-1.6%) 0.65 437
    2021-10-01 $245,990 (-7.1%) $320,169 (-1.7%) 0.66 437
    2021-11-01 $243,998 (-8.8%) $310,687 (-1.7%) 0.65 410
    2021-12-01 $231,250 (-11.5%) $296,522 (-4.7%) 0.63 351
    2022-01-01 $239,900 (-7.4%) $308,678 (-2.6%) 0.65 272
    2022-02-01 $239,450 (-16.0%) $313,873 (-9.5%) 0.62 260
    2022-03-01 $257,000 (-10.9%) $332,217 (-6.3%) 0.64 251
    2022-04-01 $260,000 (-6.6%) $337,078 (-1.5%) 0.62 269
    2022-05-01 $253,450 (-7.8%) $333,228 (-1.9%) 0.58 281
    2022-06-01 $256,750 (8.1%) $348,786 (10.8%) 0.57 343
    2022-07-01 $259,900 (4.4%) $344,522 (6.7%) 0.59 397
    2022-08-01 $266,225 (8.2%) $341,054 (8.2%) 0.62 416
    2022-09-01 $249,450 (2.9%) $331,758 (6.2%) 0.58 427
    2022-10-01 $252,450 (2.6%) $337,484 (5.4%) 0.59 425
    2022-11-01 $274,900 (12.7%) $347,588 (11.9%) 0.66 415
    2022-12-01 $279,900 (21.0%) $341,014 (15.0%) 0.69 361
    2023-01-01 $276,175 (15.1%) $351,373 (13.8%) 0.68 308
    2023-02-01 $294,225 (22.9%) $361,502 (15.2%) 0.71 282
    2023-03-01 $304,350 (18.4%) $384,377 (15.7%) 0.72 285
    2023-04-01 $319,900 (23.0%) $388,382 (15.2%) 0.74 299
    2023-05-01 $324,925 (28.2%) $400,010 (20.0%) 0.74 310
    2023-06-01 $340,329 (32.6%) $418,852 (20.1%) 0.76 325
    2023-07-01 $337,754 (30.0%) $426,262 (23.7%) 0.77 310
    2023-08-01 $330,825 (24.3%) $403,604 (18.3%) 0.76 325
    2023-09-01 $349,900 (40.3%) $406,765 (22.6%) 0.81 342
    2023-10-01 $347,671 (37.7%) $406,877 (20.6%) 0.82 367
    Reading's median listing price for 2023-10-01 was $347,671, a difference of $95,221 (37.7%) versus the prior year and $-2,229 versus the prior month.

    Reading's median listing price comes in at 82% of the national average.

    Reading's average listing price for 2023-10-01 was $406,877, a difference of $69,393 (20.6%) versus the prior year and $112 versus the prior month.

    For the 2023-10-01 period, Reading had 367 MLS listings, a difference of 25 listings (7%) versus the prior month and -58 listings (-14%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Reading (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 92 days 1,740 sqft
    2018-02-01 90 days 1,764 sqft
    2018-03-01 65 days 1,791 sqft
    2018-04-01 52 days 1,811 sqft
    2018-05-01 52 days 1,860 sqft
    2018-06-01 53 days 1,916 sqft
    2018-07-01 58 days 1,886 sqft
    2018-08-01 60 days 1,887 sqft
    2018-09-01 64 days 1,900 sqft
    2018-10-01 67 days 1,899 sqft
    2018-11-01 67 days 1,885 sqft
    2018-12-01 73 days 1,860 sqft
    2019-01-01 85 days 1,855 sqft
    2019-02-01 87 days 1,886 sqft
    2019-03-01 69 days 1,938 sqft
    2019-04-01 47 days 1,995 sqft
    2019-05-01 39 days 1,984 sqft
    2019-06-01 40 days 1,952 sqft
    2019-07-01 44 days 1,947 sqft
    2019-08-01 48 days 1,960 sqft
    2019-09-01 53 days 1,992 sqft
    2019-10-01 58 days 2,023 sqft
    2019-11-01 58 days 2,035 sqft
    2019-12-01 70 days 2,009 sqft
    2020-01-01 77 days 2,020 sqft
    2020-02-01 66 days 2,048 sqft
    2020-03-01 44 days 2,080 sqft
    2020-04-01 66 days 2,134 sqft
    2020-05-01 74 days 2,034 sqft
    2020-06-01 40 days 2,047 sqft
    2020-07-01 34 days 2,109 sqft
    2020-08-01 27 days 2,144 sqft
    2020-09-01 25 days 2,028 sqft
    2020-10-01 41 days 2,050 sqft
    2020-11-01 42 days 2,006 sqft
    2020-12-01 47 days 1,960 sqft
    2021-01-01 57 days 1,927 sqft
    2021-02-01 62 days 2,100 sqft
    2021-03-01 45 days 1,988 sqft
    2021-04-01 30 days 1,960 sqft
    2021-05-01 25 days 1,892 sqft
    2021-06-01 31 days 1,811 sqft
    2021-07-01 38 days 1,832 sqft
    2021-08-01 39 days 1,812 sqft
    2021-09-01 39 days 1,784 sqft
    2021-10-01 43 days 1,792 sqft
    2021-11-01 45 days 1,786 sqft
    2021-12-01 48 days 1,754 sqft
    2022-01-01 49 days 1,692 sqft
    2022-02-01 42 days 1,741 sqft
    2022-03-01 28 days 1,763 sqft
    2022-04-01 26 days 1,810 sqft
    2022-05-01 22 days 1,772 sqft
    2022-06-01 23 days 1,786 sqft
    2022-07-01 29 days 1,800 sqft
    2022-08-01 32 days 1,799 sqft
    2022-09-01 40 days 1,783 sqft
    2022-10-01 39 days 1,800 sqft
    2022-11-01 42 days 1,865 sqft
    2022-12-01 57 days 1,852 sqft
    2023-01-01 62 days 1,838 sqft
    2023-02-01 52 days 1,908 sqft
    2023-03-01 37 days 1,988 sqft
    2023-04-01 34 days 1,978 sqft
    2023-05-01 33 days 1,982 sqft
    2023-06-01 37 days 1,976 sqft
    2023-07-01 39 days 1,979 sqft
    2023-08-01 35 days 1,924 sqft
    2023-09-01 40 days 1,969 sqft
    2023-10-01 38 days 1,981 sqft
    Reading's median listing age (time on market) for 2023-10-01 was 38 days. This is -4% shorter than the same period one year ago.

    Reading's median square footage for active listings during the 2023-10-01 period was 1,981 sqft. One year prior, the average listing was 1,800 sqft.