Scranton USDA Loans
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 30 lenders originated 92 USDA loans during 2021. The total origination value was $14,670,000, with an average USDA loan value of $159,457.
Scranton USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Scranton
averaged
5.27%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
5.21% and
one month ago for the week of 2022-04-08, the
average rate was 5.07%.
The average rate one year ago was 3.38%.
For refis of the same type during the week of 2022-05-13, the average rate
was 4.95%.
Scranton USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Scranton level.
The top Scranton USDA lender as defined by loan originations is RESIDENTIAL MORTGAGE SERVICES, INC., with
19 USDA loans originated. Their average total fees are
$5,791, which is $2,135
lower than the next largest lender,
ALLIED MORTGAGE GROUP, INC..
The lowest fee Scranton USDA lenders (with over 10 loans originated) are
RESIDENTIAL MORTGAGE SERVICES, INC. ($5,791), .
The lowest rate Scranton USDA lenders (with over 10 loans originated) are
RESIDENTIAL MORTGAGE SERVICES, INC. (3.11%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Scranton (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $139,000 (7.0%) | $184,052 (3.7%) | 0.51 | 2,122 |
2018-02-01 | $139,450 (7.4%) | $187,834 (5.3%) | 0.50 | 2,026 |
2018-03-01 | $145,000 (5.8%) | $194,464 (5.5%) | 0.50 | 1,988 |
2018-04-01 | $149,450 (6.0%) | $197,414 (3.7%) | 0.50 | 2,073 |
2018-05-01 | $152,500 (3.5%) | $203,909 (5.7%) | 0.51 | 2,230 |
2018-06-01 | $159,900 (7.1%) | $208,272 (7.4%) | 0.53 | 2,390 |
2018-07-01 | $160,950 (7.4%) | $209,884 (9.3%) | 0.54 | 2,491 |
2018-08-01 | $160,700 (9.1%) | $209,116 (9.6%) | 0.54 | 2,510 |
2018-09-01 | $159,000 (7.8%) | $204,416 (7.5%) | 0.53 | 2,544 |
2018-10-01 | $155,400 (6.4%) | $201,896 (6.2%) | 0.52 | 2,494 |
2018-11-01 | $149,950 (3.8%) | $199,043 (4.9%) | 0.50 | 2,357 |
2018-12-01 | $149,900 (7.2%) | $193,347 (3.9%) | 0.51 | 2,182 |
2019-01-01 | $149,900 (7.8%) | $194,323 (5.6%) | 0.52 | 1,970 |
2019-02-01 | $149,900 (7.5%) | $196,552 (4.6%) | 0.50 | 1,857 |
2019-03-01 | $153,800 (6.1%) | $199,374 (2.5%) | 0.50 | 1,840 |
2019-04-01 | $159,450 (6.7%) | $203,582 (3.1%) | 0.50 | 1,889 |
2019-05-01 | $164,900 (8.1%) | $213,516 (4.7%) | 0.51 | 1,958 |
2019-06-01 | $165,000 (3.2%) | $217,657 (4.5%) | 0.51 | 2,118 |
2019-07-01 | $165,000 (2.5%) | $216,447 (3.1%) | 0.51 | 2,238 |
2019-08-01 | $163,529 (1.8%) | $214,435 (2.5%) | 0.51 | 2,196 |
2019-09-01 | $162,950 (2.5%) | $212,918 (4.2%) | 0.52 | 2,137 |
2019-10-01 | $159,900 (2.9%) | $211,949 (5.0%) | 0.51 | 2,191 |
2019-11-01 | $160,000 (6.7%) | $213,666 (7.4%) | 0.52 | 2,024 |
2019-12-01 | $159,900 (6.7%) | $209,577 (8.4%) | 0.53 | 1,853 |
2020-01-01 | $158,450 (5.7%) | $203,757 (4.9%) | 0.53 | 1,679 |
2020-02-01 | $159,000 (6.1%) | $204,456 (4.0%) | 0.51 | 1,634 |
2020-03-01 | $162,450 (5.6%) | $203,500 (2.1%) | 0.51 | 1,565 |
2020-04-01 | $165,000 (3.5%) | $212,274 (4.3%) | 0.51 | 1,460 |
2020-05-01 | $169,900 (3.0%) | $218,889 (2.5%) | 0.51 | 1,415 |
2020-06-01 | $176,950 (7.2%) | $228,175 (4.8%) | 0.52 | 1,326 |
2020-07-01 | $187,000 (13.3%) | $251,868 (16.4%) | 0.54 | 1,173 |
2020-08-01 | $190,900 (16.7%) | $260,448 (21.5%) | 0.55 | 1,090 |
2020-09-01 | $194,450 (19.3%) | $272,934 (28.2%) | 0.56 | 1,022 |
2020-10-01 | $199,000 (24.5%) | $276,773 (30.6%) | 0.57 | 1,012 |
2020-11-01 | $185,000 (15.6%) | $269,804 (26.3%) | 0.53 | 981 |
2020-12-01 | $185,000 (15.7%) | $267,792 (27.8%) | 0.54 | 907 |
2021-01-01 | $169,900 (7.2%) | $259,801 (27.5%) | 0.50 | 778 |
2021-02-01 | $183,450 (15.4%) | $273,747 (33.9%) | 0.53 | 626 |
2021-03-01 | $189,900 (16.9%) | $292,792 (43.9%) | 0.53 | 546 |
2021-04-01 | $195,000 (18.2%) | $298,287 (40.5%) | 0.52 | 549 |
2021-05-01 | $204,900 (20.6%) | $306,969 (40.2%) | 0.54 | 608 |
2021-06-01 | $199,900 (13.0%) | $300,039 (31.5%) | 0.52 | 739 |
2021-07-01 | $204,900 (9.6%) | $287,979 (14.3%) | 0.53 | 844 |
2021-08-01 | $199,450 (4.5%) | $274,511 (5.4%) | 0.52 | 870 |
2021-09-01 | $192,450 (-1.0%) | $266,317 (-2.4%) | 0.51 | 871 |
2021-10-01 | $180,000 (-9.6%) | $262,175 (-5.3%) | 0.47 | 859 |
2021-11-01 | $175,000 (-5.4%) | $257,500 (-4.6%) | 0.46 | 801 |
2021-12-01 | $176,850 (-4.4%) | $259,136 (-3.2%) | 0.47 | 718 |
2022-01-01 | $175,000 (3.0%) | $259,281 (-0.2%) | 0.47 | 611 |
2022-02-01 | $181,200 (-1.2%) | $280,578 (2.5%) | 0.46 | 446 |
2022-03-01 | $192,450 (1.3%) | $296,024 (1.1%) | 0.48 | 435 |
2022-04-01 | $215,000 (10.3%) | $310,149 (4.0%) | 0.51 | 463 |
Scranton's median listing price comes in at 51% of the national average.
Scranton's average listing price for 2022-04-01 was $310,149, a difference of $11,862 (4.0%) versus the prior year and $14,125 versus the prior month.
For the 2022-04-01 period, Scranton had 463 MLS listings, a difference of 28 listings (6%) versus the prior month and -86 listings (-16%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Scranton (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 110 days | 1,751 sqft |
2018-02-01 | 116 days | 1,746 sqft |
2018-03-01 | 114 days | 1,765 sqft |
2018-04-01 | 86 days | 1,791 sqft |
2018-05-01 | 73 days | 1,835 sqft |
2018-06-01 | 69 days | 1,874 sqft |
2018-07-01 | 71 days | 1,866 sqft |
2018-08-01 | 78 days | 1,849 sqft |
2018-09-01 | 87 days | 1,849 sqft |
2018-10-01 | 92 days | 1,813 sqft |
2018-11-01 | 94 days | 1,800 sqft |
2018-12-01 | 105 days | 1,790 sqft |
2019-01-01 | 113 days | 1,778 sqft |
2019-02-01 | 119 days | 1,775 sqft |
2019-03-01 | 110 days | 1,800 sqft |
2019-04-01 | 81 days | 1,845 sqft |
2019-05-01 | 70 days | 1,866 sqft |
2019-06-01 | 66 days | 1,870 sqft |
2019-07-01 | 71 days | 1,844 sqft |
2019-08-01 | 78 days | 1,844 sqft |
2019-09-01 | 85 days | 1,855 sqft |
2019-10-01 | 85 days | 1,876 sqft |
2019-11-01 | 88 days | 1,872 sqft |
2019-12-01 | 100 days | 1,873 sqft |
2020-01-01 | 108 days | 1,820 sqft |
2020-02-01 | 109 days | 1,824 sqft |
2020-03-01 | 92 days | 1,814 sqft |
2020-04-01 | 99 days | 1,813 sqft |
2020-05-01 | 109 days | 1,820 sqft |
2020-06-01 | 101 days | 1,852 sqft |
2020-07-01 | 67 days | 1,895 sqft |
2020-08-01 | 58 days | 1,894 sqft |
2020-09-01 | 54 days | 1,886 sqft |
2020-10-01 | 49 days | 1,899 sqft |
2020-11-01 | 53 days | 1,839 sqft |
2020-12-01 | 65 days | 1,825 sqft |
2021-01-01 | 79 days | 1,760 sqft |
2021-02-01 | 82 days | 1,800 sqft |
2021-03-01 | 60 days | 1,819 sqft |
2021-04-01 | 39 days | 1,808 sqft |
2021-05-01 | 37 days | 1,852 sqft |
2021-06-01 | 33 days | 1,847 sqft |
2021-07-01 | 35 days | 1,817 sqft |
2021-08-01 | 37 days | 1,834 sqft |
2021-09-01 | 42 days | 1,820 sqft |
2021-10-01 | 45 days | 1,792 sqft |
2021-11-01 | 48 days | 1,753 sqft |
2021-12-01 | 59 days | 1,745 sqft |
2022-01-01 | 64 days | 1,764 sqft |
2022-02-01 | 65 days | 1,769 sqft |
2022-03-01 | 42 days | 1,788 sqft |
2022-04-01 | 29 days | 1,800 sqft |
Scranton's median square footage for active listings during the 2022-04-01 period was 1,800 sqft. One year prior, the average listing was 1,808 sqft.