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 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 6.69% for the week of 2024-05-17, compared to the national average (all USDA variants) of 6.75% for the same period.

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

The average rate for the prior week (2024-05-10) was 7.13% and one month ago for the week of 2024-04-12, the average rate was 6.65%.

The average rate one year ago was 6.63%.

For refis of the same type during the week of 2024-05-17, the average rate was 7.6%.

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
2024-04-01 $242,450 (3.2%) $305,103 (-2.6%) 0.56 630
Scranton's median listing price for 2024-04-01 was $242,450, a difference of $7,450 (3.2%) versus the prior year and $7,550 versus the prior month.

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

Scranton's average listing price for 2024-04-01 was $305,103, a difference of $-7,986 (-2.6%) versus the prior year and $11,147 versus the prior month.

For the 2024-04-01 period, Scranton had 630 MLS listings, a difference of -21 listings (-3%) versus the prior month and 64 listings (11%) 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 1,723 sqft
2024-03-01 49 days 1,726 sqft
2024-04-01 42 days 1,767 sqft
Scranton's median listing age (time on market) for 2024-04-01 was 42 days. This is 0% longer than the same period one year ago.

Scranton's median square footage for active listings during the 2024-04-01 period was 1,767 sqft. One year prior, the average listing was 1,800 sqft.