Scranton USDA Loan Rates, Closing Costs & Stats

SCRANTON--WILKES-BARRE, 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.

    Scranton's 12 lenders originated 30 USDA loans during 2023. The total origination value was $5,120,000, with an average USDA loan value of $170,667.

    Scranton USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Scranton averaged 7.2% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Scranton's average USDA mortgage closing costs are $5,374.

    The average rate for the prior week (2024-04-12) was 7.05% and one month ago for the week of 2024-03-15, the average rate was 6.94%.

    The average rate one year ago was 6.28%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.51%.

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

    Scranton 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 Scranton level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 7 6.41% $7,733
    Century Mortgage Company DBA Century Lending Company 7 6.61% $4,500
    CMG MORTGAGE, INC. 3 7.13% $7,093
    CARDINAL FINANCIAL 2 6.56% $4,706
    UNITED WHOLESALE MORTGAGE, LLC 2 6.15% $7,023
    Summit Mortgage Corporation 1 5.63% $7,123
    SWBC MORTGAGE CORPORATION 1 7.25% $5,542
    NATIONWIDE MORTGAGE BANKERS, INC. 1 5.99% $12,232
    FIRST HERITAGE FINANCIAL, LLC 1 7.49% $4,892
    AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $5,423
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.25% $8,598
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.75% $9,498

    The top Scranton USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 7 USDA loans originated. Their average total fees are $7,733, which is $3,234 higher than the next largest lender, Century Mortgage Company DBA Century Lending Company.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Scranton (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 $133,950 (4.9%) $179,445 (3.8%) 0.50 1,977
    2018-02-01 $135,000 (5.1%) $181,319 (4.3%) 0.49 1,889
    2018-03-01 $139,950 (4.8%) $187,644 (3.5%) 0.49 1,874
    2018-04-01 $145,450 (4.0%) $192,148 (1.9%) 0.49 1,948
    2018-05-01 $149,950 (5.4%) $199,890 (4.9%) 0.50 2,078
    2018-06-01 $159,000 (9.4%) $204,537 (6.8%) 0.53 2,219
    2018-07-01 $159,900 (7.5%) $207,041 (9.9%) 0.53 2,310
    2018-08-01 $158,700 (11.2%) $205,376 (9.2%) 0.53 2,326
    2018-09-01 $154,900 (8.3%) $200,383 (6.9%) 0.52 2,362
    2018-10-01 $149,900 (4.8%) $198,466 (6.5%) 0.51 2,321
    2018-11-01 $149,900 (7.2%) $194,492 (4.6%) 0.51 2,216
    2018-12-01 $144,900 (5.2%) $189,050 (3.8%) 0.50 2,058
    2019-01-01 $145,945 (9.0%) $189,661 (5.7%) 0.50 1,854
    2019-02-01 $146,000 (8.2%) $192,122 (6.0%) 0.49 1,760
    2019-03-01 $151,143 (8.0%) $195,505 (4.2%) 0.49 1,743
    2019-04-01 $154,850 (6.5%) $200,180 (4.2%) 0.49 1,771
    2019-05-01 $159,900 (6.6%) $207,287 (3.7%) 0.50 1,855
    2019-06-01 $160,000 (0.6%) $209,885 (2.6%) 0.50 1,972
    2019-07-01 $159,950 (0.0%) $210,785 (1.8%) 0.50 2,076
    2019-08-01 $159,450 (0.5%) $208,840 (1.7%) 0.50 2,084
    2019-09-01 $158,775 (2.5%) $206,653 (3.1%) 0.51 2,090
    2019-10-01 $158,125 (5.5%) $204,933 (3.3%) 0.51 2,073
    2019-11-01 $158,500 (5.7%) $206,298 (6.1%) 0.52 1,898
    2019-12-01 $152,450 (5.2%) $203,103 (7.4%) 0.51 1,718
    2020-01-01 $149,900 (2.7%) $197,588 (4.2%) 0.50 1,567
    2020-02-01 $150,000 (2.7%) $198,103 (3.1%) 0.49 1,533
    2020-03-01 $157,225 (4.0%) $199,114 (1.9%) 0.49 1,485
    2020-04-01 $159,900 (3.3%) $206,435 (3.1%) 0.50 1,381
    2020-05-01 $165,000 (3.2%) $210,467 (1.5%) 0.50 1,340
    2020-06-01 $170,800 (6.8%) $217,607 (3.7%) 0.50 1,256
    2020-07-01 $175,000 (9.4%) $240,359 (14.0%) 0.51 1,095
    2020-08-01 $184,900 (16.0%) $247,741 (18.6%) 0.53 1,023
    2020-09-01 $182,400 (14.9%) $253,988 (22.9%) 0.52 975
    2020-10-01 $185,000 (17.0%) $258,707 (26.2%) 0.53 976
    2020-11-01 $179,900 (13.5%) $256,632 (24.4%) 0.53 924
    2020-12-01 $179,450 (17.7%) $254,977 (25.5%) 0.53 858
    2021-01-01 $169,250 (12.9%) $246,866 (24.9%) 0.51 755
    2021-02-01 $177,075 (18.1%) $258,425 (30.5%) 0.52 599
    2021-03-01 $183,725 (16.9%) $274,938 (38.1%) 0.52 524
    2021-04-01 $189,450 (18.5%) $280,101 (35.7%) 0.51 520
    2021-05-01 $199,000 (20.6%) $295,339 (40.3%) 0.53 573
    2021-06-01 $197,500 (15.6%) $295,015 (35.6%) 0.52 714
    2021-07-01 $199,900 (14.2%) $282,180 (17.4%) 0.53 809
    2021-08-01 $198,750 (7.5%) $275,819 (11.3%) 0.53 831
    2021-09-01 $190,950 (4.7%) $273,482 (7.7%) 0.51 834
    2021-10-01 $179,000 (-3.2%) $263,468 (1.8%) 0.48 832
    2021-11-01 $175,000 (-2.7%) $260,370 (1.5%) 0.47 762
    2021-12-01 $175,000 (-2.5%) $262,608 (3.0%) 0.47 676
    2022-01-01 $175,000 (3.4%) $263,859 (6.9%) 0.47 576
    2022-02-01 $179,450 (1.3%) $286,744 (11.0%) 0.47 421
    2022-03-01 $188,450 (2.6%) $296,576 (7.9%) 0.47 417
    2022-04-01 $217,000 (14.5%) $306,663 (9.5%) 0.52 447
    2022-05-01 $219,225 (10.2%) $307,869 (4.2%) 0.50 513
    2022-06-01 $225,000 (13.9%) $309,141 (4.8%) 0.50 640
    2022-07-01 $229,000 (14.6%) $311,957 (10.6%) 0.52 746
    2022-08-01 $225,000 (13.2%) $302,117 (9.5%) 0.52 798
    2022-09-01 $227,000 (18.9%) $302,322 (10.6%) 0.53 793
    2022-10-01 $225,000 (25.7%) $301,407 (14.4%) 0.53 822
    2022-11-01 $219,950 (25.7%) $289,023 (11.0%) 0.53 872
    2022-12-01 $215,000 (22.9%) $295,432 (12.5%) 0.53 797
    2023-01-01 $217,450 (24.3%) $297,126 (12.6%) 0.54 673
    2023-02-01 $217,000 (20.9%) $293,096 (2.2%) 0.52 597
    2023-03-01 $229,450 (21.8%) $311,231 (4.9%) 0.54 555
    2023-04-01 $235,000 (8.3%) $313,089 (2.1%) 0.55 566
    2023-05-01 $242,225 (10.5%) $314,732 (2.2%) 0.55 600
    2023-06-01 $250,000 (11.1%) $331,871 (7.4%) 0.56 649
    2023-07-01 $249,900 (9.1%) $328,801 (5.4%) 0.57 720
    2023-08-01 $240,000 (6.7%) $321,815 (6.5%) 0.55 777
    2023-09-01 $239,900 (5.7%) $310,854 (2.8%) 0.56 792
    2023-10-01 $239,495 (6.4%) $305,659 (1.4%) 0.56 818
    2023-11-01 $237,000 (7.8%) $299,895 (3.8%) 0.56 852
    2023-12-01 $240,000 (11.6%) $308,303 (4.4%) 0.59 831
    2024-01-01 $232,500 (6.9%) $292,465 (-1.6%) 0.57 741
    2024-02-01 $229,900 (5.9%) $284,464 (-3.0%) 0.55 692
    2024-03-01 $234,900 (2.4%) $293,956 (-5.6%) 0.55 651
    Scranton's median listing price for 2024-03-01 was $234,900, a difference of $5,450 (2.4%) versus the prior year and $5,000 versus the prior month.

    Scranton's median listing price comes in at 55% of the national average.

    Scranton's average listing price for 2024-03-01 was $293,956, a difference of $-17,275 (-5.6%) versus the prior year and $9,492 versus the prior month.

    For the 2024-03-01 period, Scranton had 651 MLS listings, a difference of -41 listings (-6%) versus the prior month and 96 listings (17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Scranton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 101 days 1,750 sqft
    2018-02-01 107 days 1,732 sqft
    2018-03-01 96 days 1,759 sqft
    2018-04-01 72 days 1,780 sqft
    2018-05-01 64 days 1,840 sqft
    2018-06-01 60 days 1,869 sqft
    2018-07-01 64 days 1,862 sqft
    2018-08-01 70 days 1,840 sqft
    2018-09-01 79 days 1,844 sqft
    2018-10-01 83 days 1,808 sqft
    2018-11-01 87 days 1,797 sqft
    2018-12-01 96 days 1,760 sqft
    2019-01-01 103 days 1,763 sqft
    2019-02-01 109 days 1,770 sqft
    2019-03-01 94 days 1,788 sqft
    2019-04-01 71 days 1,830 sqft
    2019-05-01 61 days 1,845 sqft
    2019-06-01 62 days 1,842 sqft
    2019-07-01 66 days 1,825 sqft
    2019-08-01 71 days 1,833 sqft
    2019-09-01 76 days 1,847 sqft
    2019-10-01 80 days 1,856 sqft
    2019-11-01 85 days 1,845 sqft
    2019-12-01 97 days 1,839 sqft
    2020-01-01 105 days 1,800 sqft
    2020-02-01 103 days 1,800 sqft
    2020-03-01 78 days 1,800 sqft
    2020-04-01 91 days 1,800 sqft
    2020-05-01 99 days 1,805 sqft
    2020-06-01 93 days 1,831 sqft
    2020-07-01 52 days 1,857 sqft
    2020-08-01 49 days 1,849 sqft
    2020-09-01 46 days 1,823 sqft
    2020-10-01 44 days 1,854 sqft
    2020-11-01 52 days 1,814 sqft
    2020-12-01 62 days 1,800 sqft
    2021-01-01 72 days 1,745 sqft
    2021-02-01 70 days 1,778 sqft
    2021-03-01 54 days 1,800 sqft
    2021-04-01 35 days 1,806 sqft
    2021-05-01 29 days 1,803 sqft
    2021-06-01 28 days 1,804 sqft
    2021-07-01 30 days 1,800 sqft
    2021-08-01 35 days 1,816 sqft
    2021-09-01 39 days 1,816 sqft
    2021-10-01 41 days 1,764 sqft
    2021-11-01 44 days 1,749 sqft
    2021-12-01 55 days 1,740 sqft
    2022-01-01 61 days 1,770 sqft
    2022-02-01 58 days 1,768 sqft
    2022-03-01 38 days 1,777 sqft
    2022-04-01 26 days 1,812 sqft
    2022-05-01 28 days 1,837 sqft
    2022-06-01 29 days 1,797 sqft
    2022-07-01 33 days 1,824 sqft
    2022-08-01 39 days 1,809 sqft
    2022-09-01 44 days 1,837 sqft
    2022-10-01 46 days 1,872 sqft
    2022-11-01 47 days 1,797 sqft
    2022-12-01 63 days 1,777 sqft
    2023-01-01 77 days 1,771 sqft
    2023-02-01 76 days 1,737 sqft
    2023-03-01 57 days 1,791 sqft
    2023-04-01 42 days 1,800 sqft
    2023-05-01 39 days 1,832 sqft
    2023-06-01 37 days 1,861 sqft
    2023-07-01 38 days 1,852 sqft
    2023-08-01 39 days 1,838 sqft
    2023-09-01 41 days 1,829 sqft
    2023-10-01 43 days 1,824 sqft
    2023-11-01 45 days 1,800 sqft
    2023-12-01 54 days 1,800 sqft
    2024-01-01 70 days 1,774 sqft
    2024-02-01 65 days 1,725 sqft
    2024-03-01 49 days 1,728 sqft
    Scranton's median listing age (time on market) for 2024-03-01 was 49 days. This is -14% shorter than the same period one year ago.

    Scranton's median square footage for active listings during the 2024-03-01 period was 1,728 sqft. One year prior, the average listing was 1,791 sqft.