Scranton USDA Loan Rates, Closing Costs & Stats

SCRANTON--WILKES-BARRE, 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.

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.