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 32 USDA loans during 2022. The total origination value was $5,030,000, with an average USDA loan value of $157,188.

    Scranton USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Scranton averaged -0.42% for the week of 2023-11-24, compared to the national average (all USDA variants) of 0% for the same period.

    Scranton's average USDA mortgage closing costs are $5,264.

    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 7.09%.

    The average rate one year ago was 6.33%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.48%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 8 5.61% $6,309
    Century Mortgage Company DBA Century Lending Company 5 4.45% $6,336
    ALLIED MORTGAGE GROUP, INC. 4 4.09% $8,245
    SWBC MORTGAGE CORPORATION 2 5.69% $2,522
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 3.69% $4,894
    Summit Mortgage Corporation 1 4.63% $4,773
    Truist 1 5.00% $8,047
    UNITED WHOLESALE MORTGAGE, LLC 1 6.95% $5,685
    CALIBER HOME LOANS, INC. 1 6.75% $9,894
    CARDINAL FINANCIAL 1 4.50% $7,776
    MICHIGAN MUTUAL, INC. 1 4.13% $4,613
    PENNYMAC LOAN SERVICES, LLC 1 2.75% $3,303

    The top Scranton USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 8 USDA loans originated. Their average total fees are $6,309, which is $27 lower 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 $133,975 (4.9%) $179,457 (3.9%) 0.50 1,977
    2018-02-01 $135,000 (5.1%) $181,359 (4.4%) 0.49 1,889
    2018-03-01 $139,950 (4.8%) $187,550 (3.5%) 0.49 1,875
    2018-04-01 $145,450 (4.0%) $192,057 (1.9%) 0.49 1,949
    2018-05-01 $149,950 (5.4%) $199,764 (4.8%) 0.50 2,081
    2018-06-01 $159,000 (9.4%) $204,438 (6.7%) 0.53 2,223
    2018-07-01 $159,900 (7.7%) $206,880 (9.8%) 0.53 2,316
    2018-08-01 $158,450 (10.9%) $205,189 (9.1%) 0.53 2,331
    2018-09-01 $154,900 (8.3%) $200,238 (6.8%) 0.52 2,367
    2018-10-01 $149,900 (4.8%) $198,313 (6.4%) 0.51 2,326
    2018-11-01 $149,900 (7.2%) $194,518 (4.6%) 0.51 2,218
    2018-12-01 $144,900 (5.2%) $189,076 (3.9%) 0.50 2,060
    2019-01-01 $145,945 (8.9%) $189,688 (5.7%) 0.50 1,856
    2019-02-01 $146,000 (8.2%) $192,143 (6.0%) 0.49 1,762
    2019-03-01 $151,143 (8.0%) $195,577 (4.3%) 0.49 1,744
    2019-04-01 $155,000 (6.6%) $200,463 (4.4%) 0.49 1,769
    2019-05-01 $159,900 (6.6%) $207,566 (3.9%) 0.50 1,853
    2019-06-01 $160,000 (0.6%) $210,113 (2.8%) 0.50 1,968
    2019-07-01 $159,949 (0.0%) $210,805 (1.9%) 0.50 2,073
    2019-08-01 $159,382 (0.6%) $208,781 (1.8%) 0.50 2,081
    2019-09-01 $158,605 (2.4%) $206,476 (3.1%) 0.51 2,087
    2019-10-01 $157,750 (5.2%) $204,601 (3.2%) 0.51 2,071
    2019-11-01 $158,500 (5.7%) $205,971 (5.9%) 0.52 1,896
    2019-12-01 $152,450 (5.2%) $202,749 (7.2%) 0.51 1,715
    2020-01-01 $149,900 (2.7%) $197,158 (3.9%) 0.50 1,565
    2020-02-01 $150,000 (2.7%) $197,679 (2.9%) 0.49 1,531
    2020-03-01 $156,975 (3.9%) $198,636 (1.6%) 0.49 1,484
    2020-04-01 $159,900 (3.2%) $205,909 (2.7%) 0.50 1,380
    2020-05-01 $165,000 (3.2%) $210,075 (1.2%) 0.50 1,339
    2020-06-01 $170,800 (6.8%) $217,589 (3.6%) 0.50 1,257
    2020-07-01 $175,000 (9.4%) $240,397 (14.0%) 0.51 1,094
    2020-08-01 $184,900 (16.0%) $247,708 (18.6%) 0.53 1,024
    2020-09-01 $182,400 (15.0%) $253,941 (23.0%) 0.52 976
    2020-10-01 $185,000 (17.3%) $258,694 (26.4%) 0.53 976
    2020-11-01 $179,900 (13.5%) $256,632 (24.6%) 0.53 924
    2020-12-01 $179,350 (17.7%) $254,629 (25.6%) 0.53 857
    2021-01-01 $169,000 (12.7%) $246,487 (25.0%) 0.50 754
    2021-02-01 $176,450 (17.6%) $257,955 (30.5%) 0.51 598
    2021-03-01 $182,500 (16.3%) $274,386 (38.1%) 0.52 523
    2021-04-01 $189,450 (18.5%) $279,815 (35.9%) 0.51 518
    2021-05-01 $197,250 (19.6%) $294,917 (40.4%) 0.52 572
    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 (11.4%) 0.53 831
    2021-09-01 $191,575 (5.0%) $273,435 (7.7%) 0.51 835
    2021-10-01 $179,000 (-3.2%) $263,413 (1.8%) 0.48 833
    2021-11-01 $175,000 (-2.7%) $260,345 (1.5%) 0.47 762
    2021-12-01 $175,000 (-2.4%) $262,608 (3.1%) 0.47 676
    2022-01-01 $175,000 (3.6%) $263,859 (7.1%) 0.47 576
    2022-02-01 $179,450 (1.7%) $286,744 (11.2%) 0.47 421
    2022-03-01 $188,450 (3.3%) $296,576 (8.1%) 0.47 417
    2022-04-01 $217,000 (14.5%) $306,663 (9.6%) 0.52 447
    2022-05-01 $219,225 (11.1%) $308,018 (4.4%) 0.50 514
    2022-06-01 $225,000 (13.9%) $309,399 (4.9%) 0.50 641
    2022-07-01 $229,900 (15.0%) $313,307 (11.0%) 0.52 748
    2022-08-01 $225,000 (13.2%) $303,626 (10.1%) 0.52 799
    2022-09-01 $227,000 (18.5%) $303,844 (11.1%) 0.53 794
    2022-10-01 $229,000 (27.9%) $302,801 (15.0%) 0.54 824
    2022-11-01 $219,950 (25.7%) $290,457 (11.6%) 0.53 873
    2022-12-01 $215,000 (22.9%) $296,039 (12.7%) 0.53 798
    2023-01-01 $217,700 (24.4%) $297,685 (12.8%) 0.54 673
    2023-02-01 $217,000 (20.9%) $293,728 (2.4%) 0.52 598
    2023-03-01 $229,450 (21.8%) $311,484 (5.0%) 0.54 556
    2023-04-01 $239,000 (10.1%) $313,599 (2.3%) 0.56 568
    2023-05-01 $242,450 (10.6%) $315,200 (2.3%) 0.55 601
    2023-06-01 $250,000 (11.1%) $332,037 (7.3%) 0.56 649
    2023-07-01 $249,900 (8.7%) $328,484 (4.8%) 0.57 721
    2023-08-01 $240,000 (6.7%) $321,815 (6.0%) 0.55 777
    2023-09-01 $239,900 (5.7%) $310,854 (2.3%) 0.56 792
    2023-10-01 $239,495 (4.6%) $305,659 (0.9%) 0.56 818
    Scranton's median listing price for 2023-10-01 was $239,495, a difference of $10,495 (4.6%) versus the prior year and $-405 versus the prior month.

    Scranton's median listing price comes in at 56% of the national average.

    Scranton's average listing price for 2023-10-01 was $305,659, a difference of $2,858 (0.9%) versus the prior year and $-5,195 versus the prior month.

    For the 2023-10-01 period, Scranton had 818 MLS listings, a difference of 26 listings (3%) versus the prior month and -6 listings (-1%) 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 1,733 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 61 days 1,870 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 1,799 sqft
    2018-12-01 96 days 1,761 sqft
    2019-01-01 104 days 1,765 sqft
    2019-02-01 109 days 1,770 sqft
    2019-03-01 94 days 1,789 sqft
    2019-04-01 71 days 1,831 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 1,832 sqft
    2019-09-01 76 days 1,844 sqft
    2019-10-01 80 days 1,853 sqft
    2019-11-01 84 days 1,845 sqft
    2019-12-01 96 days 1,839 sqft
    2020-01-01 104 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 1,804 sqft
    2020-06-01 93 days 1,832 sqft
    2020-07-01 52 days 1,859 sqft
    2020-08-01 49 days 1,848 sqft
    2020-09-01 46 days 1,821 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 1,750 sqft
    2021-02-01 70 days 1,778 sqft
    2021-03-01 54 days 1,800 sqft
    2021-04-01 35 days 1,811 sqft
    2021-05-01 29 days 1,805 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 1,817 sqft
    2021-10-01 41 days 1,770 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 1,799 sqft
    2022-07-01 33 days 1,832 sqft
    2022-08-01 40 days 1,810 sqft
    2022-09-01 45 days 1,844 sqft
    2022-10-01 46 days 1,874 sqft
    2022-11-01 48 days 1,804 sqft
    2022-12-01 63 days 1,780 sqft
    2023-01-01 77 days 1,773 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 1,855 sqft
    2023-07-01 38 days 1,851 sqft
    2023-08-01 39 days 1,838 sqft
    2023-09-01 41 days 1,822 sqft
    2023-10-01 43 days 1,824 sqft
    Scranton's median listing age (time on market) for 2023-10-01 was 43 days. This is -8% shorter than the same period one year ago.

    Scranton's median square footage for active listings during the 2023-10-01 period was 1,824 sqft. One year prior, the average listing was 1,874 sqft.