Reading USDA Loan Rates, Closing Costs & Stats

READING, 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.

Reading's 6 lenders originated 10 USDA loans during 2023. The total origination value was $1,840,000, with an average USDA loan value of $184,000.

Reading USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Reading averaged 6.72% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

Reading's average USDA mortgage closing costs are $5,739.

The average rate for the prior week (2024-05-31) was 6.9% and one month ago for the week of 2024-05-03, the average rate was 6.79%.

The average rate one year ago was 6.89%.

For refis of the same type during the week of 2024-06-07, the average rate was 6.88%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Northpointe Bank 3 6.25% $8,083
Mortgage America, Inc. 2 6.06% $6,264
GUARANTEED RATE, INC. 1 6.25% $4,996
GUILD MORTGAGE COMPANY 1 6.13% $8,417
MOVEMENT MORTGAGE, LLC 1 7.63% $6,448
UNITED WHOLESALE MORTGAGE, LLC 1 6.13% $7,533

The top Reading USDA lender as defined by loan originations is Northpointe Bank, with 3 USDA loans originated. Their average total fees are $8,083, which is $1,819 higher than the next largest lender, Mortgage America, Inc..

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%) $224,586 (3.3%) 0.64 1,241
2018-02-01 $174,950 (0.6%) $224,243 (0.5%) 0.64 1,159
2018-03-01 $179,900 (2.8%) $232,645 (3.8%) 0.63 1,102
2018-04-01 $186,875 (1.1%) $237,457 (3.6%) 0.63 1,159
2018-05-01 $199,900 (5.3%) $247,733 (6.7%) 0.67 1,191
2018-06-01 $209,900 (10.7%) $256,497 (9.5%) 0.70 1,253
2018-07-01 $209,050 (10.1%) $255,063 (7.8%) 0.70 1,253
2018-08-01 $210,500 (13.8%) $255,859 (9.0%) 0.71 1,253
2018-09-01 $209,900 (16.7%) $253,270 (9.3%) 0.71 1,255
2018-10-01 $209,950 (17.4%) $255,392 (10.2%) 0.71 1,246
2018-11-01 $209,900 (20.2%) $254,543 (12.7%) 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 (12.1%) 0.69 1,071
2019-02-01 $199,945 (14.3%) $256,610 (14.4%) 0.68 1,009
2019-03-01 $208,471 (15.9%) $261,668 (12.5%) 0.68 997
2019-04-01 $222,400 (19.0%) $268,807 (13.2%) 0.71 987
2019-05-01 $222,400 (11.3%) $269,733 (8.9%) 0.70 1,006
2019-06-01 $220,000 (4.8%) $268,946 (4.9%) 0.69 1,030
2019-07-01 $219,900 (5.2%) $265,874 (4.2%) 0.69 1,095
2019-08-01 $218,991 (4.0%) $269,232 (5.2%) 0.69 1,077
2019-09-01 $225,127 (7.3%) $273,995 (8.2%) 0.72 1,043
2019-10-01 $232,445 (10.7%) $278,665 (9.1%) 0.75 998
2019-11-01 $235,000 (12.0%) $280,029 (10.0%) 0.77 953
2019-12-01 $232,475 (13.4%) $281,374 (11.9%) 0.78 842
2020-01-01 $229,950 (15.0%) $282,204 (12.1%) 0.77 771
2020-02-01 $246,900 (23.5%) $286,382 (11.6%) 0.81 716
2020-03-01 $259,900 (24.7%) $297,043 (13.5%) 0.81 674
2020-04-01 $274,400 (23.4%) $312,733 (16.3%) 0.86 592
2020-05-01 $259,900 (16.9%) $302,211 (12.0%) 0.79 618
2020-06-01 $249,950 (13.6%) $305,617 (13.6%) 0.74 586
2020-07-01 $272,650 (24.0%) $325,632 (22.5%) 0.79 484
2020-08-01 $270,000 (23.3%) $321,418 (19.4%) 0.77 479
2020-09-01 $259,975 (15.5%) $317,217 (15.8%) 0.74 476
2020-10-01 $264,900 (14.0%) $326,057 (17.0%) 0.76 459
2020-11-01 $267,400 (13.8%) $316,259 (12.9%) 0.78 464
2020-12-01 $262,400 (12.9%) $311,463 (10.7%) 0.78 431
2021-01-01 $258,500 (12.4%) $317,356 (12.5%) 0.77 367
2021-02-01 $285,400 (15.6%) $346,802 (21.1%) 0.83 283
2021-03-01 $289,000 (11.2%) $354,156 (19.2%) 0.82 274
2021-04-01 $279,075 (1.7%) $341,585 (9.2%) 0.76 285
2021-05-01 $274,900 (5.8%) $342,368 (13.3%) 0.73 313
2021-06-01 $239,220 (-4.3%) $317,388 (3.9%) 0.63 408
2021-07-01 $249,500 (-8.5%) $324,997 (-0.2%) 0.66 415
2021-08-01 $246,745 (-8.6%) $317,398 (-1.3%) 0.66 449
2021-09-01 $242,450 (-6.7%) $314,684 (-0.8%) 0.65 439
2021-10-01 $245,990 (-7.1%) $322,172 (-1.2%) 0.66 439
2021-11-01 $245,445 (-8.2%) $313,134 (-1.0%) 0.66 412
2021-12-01 $234,950 (-10.5%) $299,524 (-3.8%) 0.64 353
2022-01-01 $239,900 (-7.2%) $310,126 (-2.3%) 0.65 274
2022-02-01 $239,450 (-16.1%) $317,375 (-8.5%) 0.62 262
2022-03-01 $254,950 (-11.8%) $335,754 (-5.2%) 0.64 252
2022-04-01 $257,000 (-7.9%) $337,363 (-1.2%) 0.61 278
2022-05-01 $247,728 (-9.9%) $332,085 (-3.0%) 0.57 289
2022-06-01 $254,900 (6.6%) $346,326 (9.1%) 0.57 351
2022-07-01 $252,000 (1.0%) $342,439 (5.4%) 0.57 405
2022-08-01 $264,900 (7.4%) $340,046 (7.1%) 0.61 425
2022-09-01 $246,450 (1.7%) $330,811 (5.1%) 0.58 435
2022-10-01 $249,950 (1.6%) $335,558 (4.2%) 0.59 433
2022-11-01 $271,975 (10.8%) $345,325 (10.3%) 0.65 423
2022-12-01 $275,000 (17.1%) $338,517 (13.0%) 0.68 369
2023-01-01 $273,850 (14.2%) $350,182 (12.9%) 0.68 317
2023-02-01 $287,500 (20.1%) $363,468 (14.5%) 0.69 285
2023-03-01 $309,200 (21.3%) $388,007 (15.6%) 0.73 286
2023-04-01 $319,900 (24.5%) $388,611 (15.2%) 0.74 299
2023-05-01 $324,925 (31.2%) $400,010 (20.5%) 0.74 310
2023-06-01 $340,329 (33.5%) $418,852 (20.9%) 0.76 325
2023-07-01 $337,754 (34.0%) $426,262 (24.5%) 0.77 310
2023-08-01 $330,825 (24.9%) $403,604 (18.7%) 0.76 325
2023-09-01 $349,900 (42.0%) $406,765 (23.0%) 0.81 342
2023-10-01 $347,671 (39.1%) $406,877 (21.3%) 0.82 367
2023-11-01 $336,200 (23.6%) $395,412 (14.5%) 0.80 376
2023-12-01 $316,750 (15.2%) $371,887 (9.9%) 0.77 360
2024-01-01 $307,450 (12.3%) $369,204 (5.4%) 0.75 305
2024-02-01 $306,200 (6.5%) $365,293 (0.5%) 0.74 280
2024-03-01 $298,500 (-3.5%) $378,392 (-2.5%) 0.70 262
2024-04-01 $325,000 (1.6%) $397,227 (2.2%) 0.76 278
2024-05-01 $359,925 (10.8%) $429,675 (7.4%) 0.81 285
Reading's median listing price for 2024-05-01 was $359,925, a difference of $35,000 (10.8%) versus the prior year and $34,925 versus the prior month.

Reading's median listing price comes in at 81% of the national average.

Reading's average listing price for 2024-05-01 was $429,675, a difference of $29,665 (7.4%) versus the prior year and $32,448 versus the prior month.

For the 2024-05-01 period, Reading had 285 MLS listings, a difference of 7 listings (3%) versus the prior month and -25 listings (-8%) 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 1,742 sqft
2018-02-01 90 days 1,766 sqft
2018-03-01 65 days 1,791 sqft
2018-04-01 52 days 1,811 sqft
2018-05-01 52 days 1,862 sqft
2018-06-01 53 days 1,916 sqft
2018-07-01 58 days 1,884 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 1,883 sqft
2018-12-01 73 days 1,858 sqft
2019-01-01 85 days 1,856 sqft
2019-02-01 87 days 1,885 sqft
2019-03-01 69 days 1,937 sqft
2019-04-01 47 days 1,995 sqft
2019-05-01 39 days 1,984 sqft
2019-06-01 40 days 1,950 sqft
2019-07-01 44 days 1,946 sqft
2019-08-01 48 days 1,960 sqft
2019-09-01 53 days 1,991 sqft
2019-10-01 58 days 2,023 sqft
2019-11-01 57 days 2,036 sqft
2019-12-01 70 days 2,010 sqft
2020-01-01 77 days 2,025 sqft
2020-02-01 66 days 2,035 sqft
2020-03-01 44 days 2,080 sqft
2020-04-01 65 days 2,134 sqft
2020-05-01 74 days 2,033 sqft
2020-06-01 40 days 2,046 sqft
2020-07-01 34 days 2,110 sqft
2020-08-01 28 days 2,144 sqft
2020-09-01 25 days 2,030 sqft
2020-10-01 41 days 2,059 sqft
2020-11-01 42 days 2,014 sqft
2020-12-01 47 days 1,966 sqft
2021-01-01 57 days 1,940 sqft
2021-02-01 62 days 2,101 sqft
2021-03-01 45 days 1,995 sqft
2021-04-01 30 days 1,949 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 1,785 sqft
2021-10-01 44 days 1,792 sqft
2021-11-01 46 days 1,786 sqft
2021-12-01 48 days 1,752 sqft
2022-01-01 50 days 1,685 sqft
2022-02-01 42 days 1,741 sqft
2022-03-01 29 days 1,770 sqft
2022-04-01 29 days 1,800 sqft
2022-05-01 24 days 1,749 sqft
2022-06-01 24 days 1,764 sqft
2022-07-01 30 days 1,769 sqft
2022-08-01 32 days 1,778 sqft
2022-09-01 41 days 1,766 sqft
2022-10-01 40 days 1,787 sqft
2022-11-01 42 days 1,837 sqft
2022-12-01 57 days 1,827 sqft
2023-01-01 65 days 1,814 sqft
2023-02-01 51 days 1,906 sqft
2023-03-01 38 days 1,997 sqft
2023-04-01 33 days 1,980 sqft
2023-05-01 33 days 1,984 sqft
2023-06-01 37 days 1,982 sqft
2023-07-01 39 days 1,988 sqft
2023-08-01 35 days 1,930 sqft
2023-09-01 40 days 1,969 sqft
2023-10-01 38 days 1,981 sqft
2023-11-01 38 days 1,880 sqft
2023-12-01 45 days 1,848 sqft
2024-01-01 52 days 1,822 sqft
2024-02-01 38 days 1,807 sqft
2024-03-01 36 days 1,702 sqft
2024-04-01 29 days 1,821 sqft
2024-05-01 23 days 1,940 sqft
Reading's median listing age (time on market) for 2024-05-01 was 23 days. This is -31% shorter than the same period one year ago.

Reading's median square footage for active listings during the 2024-05-01 period was 1,940 sqft. One year prior, the average listing was 1,984 sqft.