Somerset USDA Loan Rates, Closing Costs & Stats

Somerset, 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.

    Somerset's 12 lenders originated 24 USDA loans during 2023. The total origination value was $2,510,000, with an average USDA loan value of $104,583.

    Somerset USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Somerset averaged 6.33% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Somerset's average USDA mortgage closing costs are $4,302.

    The average rate for the prior week (2025-02-07) was 6.39% and one month ago for the week of 2025-01-10, the average rate was 6.54%.

    The average rate one year ago was 6.43%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.43%.

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

    Somerset 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 Somerset level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    SOMERSET TRUST COMPANY 5 6.53% $4,418
    PRIMELENDING, A PLAINSCAPITAL COMPANY 5 6.40% $5,496
    First Commonwealth Bank 3 6.42% $6,009
    EQUITY RESOURCES, INC. 1 6.99% $4,949
    HOMESPIRE MORTGAGE CORPORATION 1 6.63% $8,274
    Mortgage Research Center, LLC 1 5.25% $2,838
    MOVEMENT MORTGAGE, LLC 1 6.25% $5,908
    Wells Fargo Bank 1 6.50% $3,324
    Bank of England 1 5.63% $9,343
    WEST PENN FINANCIAL SERVICE CENTER, INC. 1 6.50% $5,148
    DRAPER AND KRAMER MORTGAGE CORP. 1 7.75% $4,767
    EMM LOANS LLC 1 6.63% $5,048

    The top Somerset USDA lender as defined by loan originations is SOMERSET TRUST COMPANY, with 5 USDA loans originated. Their average total fees are $4,418, which is $1,079 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Somerset (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 $168,975 (-3.4%) $230,552 (-0.3%) 0.00 453
    2018-02-01 $167,200 (-5.0%) $230,848 (-0.9%) 0.00 443
    2018-03-01 $169,000 (-3.2%) $237,427 (2.6%) 0.00 468
    2018-04-01 $169,000 (-3.4%) $234,885 (2.3%) 0.00 474
    2018-05-01 $161,100 (-7.9%) $230,331 (0.5%) 0.00 470
    2018-06-01 $166,000 (-5.1%) $237,011 (3.8%) 0.00 471
    2018-07-01 $166,750 (-7.3%) $232,449 (-2.6%) 0.00 484
    2018-08-01 $165,000 (-6.8%) $231,199 (-3.3%) 0.00 478
    2018-09-01 $169,900 (-2.9%) $232,730 (-4.2%) 0.00 489
    2018-10-01 $169,900 (-2.8%) $233,161 (-2.4%) 0.00 479
    2018-11-01 $169,675 (1.8%) $234,959 (3.2%) 0.00 453
    2018-12-01 $169,900 (3.0%) $233,778 (3.0%) 0.00 437
    2019-01-01 $176,500 (4.5%) $240,689 (4.4%) 0.00 399
    2019-02-01 $176,500 (5.6%) $243,052 (5.3%) 0.00 373
    2019-03-01 $173,179 (2.5%) $235,371 (-0.9%) 0.00 370
    2019-04-01 $171,054 (1.2%) $229,026 (-2.5%) 0.00 376
    2019-05-01 $172,400 (7.0%) $233,977 (1.6%) 0.00 386
    2019-06-01 $175,000 (5.4%) $232,460 (-1.9%) 0.00 398
    2019-07-01 $175,675 (5.4%) $237,066 (2.0%) 0.00 412
    2019-08-01 $171,655 (4.0%) $232,552 (0.6%) 0.00 418
    2019-09-01 $166,786 (-1.8%) $229,492 (-1.4%) 0.00 416
    2019-10-01 $163,000 (-4.1%) $227,557 (-2.4%) 0.00 411
    2019-11-01 $165,500 (-2.5%) $230,771 (-1.8%) 0.00 393
    2019-12-01 $169,900 (0.0%) $235,626 (0.8%) 0.00 371
    2020-01-01 $169,900 (-3.7%) $235,991 (-2.0%) 0.00 349
    2020-02-01 $169,900 (-3.7%) $237,731 (-2.2%) 0.00 346
    2020-03-01 $175,000 (1.1%) $240,933 (2.4%) 0.00 332
    2020-04-01 $177,000 (3.5%) $247,876 (8.2%) 0.00 305
    2020-05-01 $187,000 (8.5%) $254,722 (8.9%) 0.00 290
    2020-06-01 $169,975 (-2.9%) $250,742 (7.9%) 0.00 316
    2020-07-01 $180,125 (2.5%) $259,900 (9.6%) 0.00 288
    2020-08-01 $175,000 (2.0%) $262,929 (13.1%) 0.00 255
    2020-09-01 $189,900 (13.9%) $279,154 (21.6%) 0.00 227
    2020-10-01 $205,000 (25.8%) $295,126 (29.7%) 0.00 211
    2020-11-01 $219,450 (32.6%) $310,474 (34.5%) 0.00 197
    2020-12-01 $227,200 (33.7%) $323,452 (37.3%) 0.00 166
    2021-01-01 $229,900 (35.3%) $344,238 (45.9%) 0.00 138
    2021-02-01 $211,200 (24.3%) $345,741 (45.4%) 0.00 131
    2021-03-01 $230,700 (31.8%) $354,364 (47.1%) 0.00 117
    2021-04-01 $231,200 (30.6%) $350,344 (41.3%) 0.00 114
    2021-05-01 $228,000 (21.9%) $348,740 (36.9%) 0.00 108
    2021-06-01 $202,400 (19.1%) $368,528 (47.0%) 0.00 118
    2021-07-01 $184,500 (2.4%) $340,344 (31.0%) 0.00 134
    2021-08-01 $180,700 (3.3%) $325,540 (23.8%) 0.00 152
    2021-09-01 $175,675 (-7.5%) $329,352 (18.0%) 0.00 158
    2021-10-01 $169,900 (-17.1%) $292,293 (-1.0%) 0.00 148
    2021-11-01 $170,925 (-22.1%) $302,879 (-2.5%) 0.00 115
    2021-12-01 $156,000 (-31.3%) $321,660 (-0.6%) 0.00 109
    2022-01-01 $134,900 (-41.3%) $293,772 (-14.7%) 0.00 85
    2022-02-01 $120,000 (-43.2%) $254,810 (-26.3%) 0.00 74
    2022-03-01 $185,000 (-19.8%) $286,841 (-19.1%) 0.00 84
    2022-04-01 $209,950 (-9.2%) $311,726 (-11.0%) 0.00 79
    2022-05-01 $234,925 (3.0%) $310,113 (-11.1%) 0.00 85
    2022-06-01 $225,975 (11.7%) $314,196 (-14.7%) 0.00 98
    2022-07-01 $207,450 (12.4%) $333,025 (-2.2%) 0.00 100
    2022-08-01 $209,475 (15.9%) $352,910 (8.4%) 0.00 112
    2022-09-01 $222,725 (26.8%) $343,259 (4.2%) 0.00 117
    2022-10-01 $179,900 (5.9%) $323,119 (10.6%) 0.00 118
    2022-11-01 $167,625 (-1.9%) $304,530 (0.6%) 0.00 119
    2022-12-01 $175,000 (12.2%) $302,983 (-5.8%) 0.00 104
    2023-01-01 $191,950 (42.3%) $328,067 (11.7%) 0.00 90
    2023-02-01 $204,000 (70.0%) $359,830 (41.2%) 0.00 80
    2023-03-01 $208,000 (12.4%) $352,206 (22.8%) 0.00 68
    2023-04-01 $222,000 (5.7%) $353,677 (13.5%) 0.00 81
    2023-05-01 $249,000 (6.0%) $393,377 (26.9%) 0.00 91
    2023-06-01 $279,000 (23.5%) $389,194 (23.9%) 0.00 106
    2023-07-01 $274,900 (32.5%) $441,217 (32.5%) 0.00 102
    2023-08-01 $248,750 (18.8%) $436,292 (23.6%) 0.00 110
    2023-09-01 $225,900 (1.4%) $423,768 (23.5%) 0.00 103
    2023-10-01 $231,664 (28.8%) $454,422 (40.6%) 0.00 110
    2023-11-01 $194,950 (16.3%) $400,210 (31.4%) 0.00 122
    2023-12-01 $215,000 (22.9%) $425,097 (40.3%) 0.00 109
    2024-01-01 $249,700 (30.1%) $424,412 (29.4%) 0.00 99
    2024-02-01 $246,125 (20.7%) $429,894 (19.5%) 0.00 92
    2024-03-01 $249,000 (19.7%) $392,340 (11.4%) 0.00 100
    2024-04-01 $237,700 (7.1%) $412,285 (16.6%) 0.00 113
    2024-05-01 $251,750 (1.1%) $399,308 (1.5%) 0.00 124
    2024-06-01 $289,900 (3.9%) $428,594 (10.1%) 0.00 136
    2024-07-01 $287,225 (4.5%) $386,517 (-12.4%) 0.00 150
    2024-08-01 $268,900 (8.1%) $380,503 (-12.8%) 0.00 147
    2024-09-01 $278,478 (23.3%) $398,816 (-5.9%) 0.00 154
    2024-10-01 $259,900 (12.2%) $402,948 (-11.3%) 0.00 161
    2024-11-01 $250,000 (28.2%) $390,333 (-2.5%) 0.00 157
    2024-12-01 $239,225 (11.3%) $377,553 (-11.2%) 0.00 137
    2025-01-01 $243,650 (-2.4%) $371,814 (-12.4%) 0.00 117
    Somerset's median listing price for 2025-01-01 was $243,650, a difference of $-6,050 (-2.4%) versus the prior year and $4,425 versus the prior month.

    Somerset's median listing price comes in at 0% of the national average.

    Somerset's average listing price for 2025-01-01 was $371,814, a difference of $-52,598 (-12.4%) versus the prior year and $-5,739 versus the prior month.

    For the 2025-01-01 period, Somerset had 117 MLS listings, a difference of -20 listings (-15%) versus the prior month and 18 listings (18%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Somerset (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,782 sqft
    2018-02-01 0 days 1,746 sqft
    2018-03-01 0 days 1,734 sqft
    2018-04-01 0 days 1,726 sqft
    2018-05-01 0 days 1,719 sqft
    2018-06-01 0 days 1,738 sqft
    2018-07-01 0 days 1,750 sqft
    2018-08-01 0 days 1,730 sqft
    2018-09-01 0 days 1,740 sqft
    2018-10-01 0 days 1,750 sqft
    2018-11-01 0 days 1,742 sqft
    2018-12-01 0 days 1,774 sqft
    2019-01-01 0 days 1,772 sqft
    2019-02-01 0 days 1,772 sqft
    2019-03-01 0 days 1,761 sqft
    2019-04-01 0 days 1,740 sqft
    2019-05-01 0 days 1,752 sqft
    2019-06-01 0 days 1,770 sqft
    2019-07-01 0 days 1,775 sqft
    2019-08-01 0 days 1,762 sqft
    2019-09-01 0 days 1,744 sqft
    2019-10-01 0 days 1,730 sqft
    2019-11-01 0 days 1,745 sqft
    2019-12-01 0 days 1,750 sqft
    2020-01-01 0 days 1,754 sqft
    2020-02-01 0 days 1,741 sqft
    2020-03-01 0 days 1,782 sqft
    2020-04-01 0 days 1,814 sqft
    2020-05-01 0 days 1,848 sqft
    2020-06-01 0 days 1,812 sqft
    2020-07-01 0 days 1,828 sqft
    2020-08-01 0 days 1,796 sqft
    2020-09-01 0 days 1,740 sqft
    2020-10-01 0 days 1,766 sqft
    2020-11-01 0 days 1,781 sqft
    2020-12-01 0 days 1,820 sqft
    2021-01-01 0 days 1,810 sqft
    2021-02-01 0 days 1,835 sqft
    2021-03-01 0 days 1,812 sqft
    2021-04-01 0 days 1,733 sqft
    2021-05-01 0 days 1,736 sqft
    2021-06-01 0 days 1,703 sqft
    2021-07-01 0 days 1,685 sqft
    2021-08-01 0 days 1,627 sqft
    2021-09-01 0 days 1,577 sqft
    2021-10-01 0 days 1,563 sqft
    2021-11-01 0 days 1,571 sqft
    2021-12-01 0 days 1,611 sqft
    2022-01-01 0 days 1,575 sqft
    2022-02-01 0 days 1,474 sqft
    2022-03-01 0 days 1,561 sqft
    2022-04-01 0 days 1,675 sqft
    2022-05-01 0 days 1,646 sqft
    2022-06-01 0 days 1,609 sqft
    2022-07-01 0 days 1,665 sqft
    2022-08-01 0 days 1,600 sqft
    2022-09-01 0 days 1,677 sqft
    2022-10-01 0 days 1,584 sqft
    2022-11-01 0 days 1,584 sqft
    2022-12-01 0 days 1,670 sqft
    2023-01-01 0 days 1,701 sqft
    2023-02-01 0 days 1,699 sqft
    2023-03-01 0 days 1,620 sqft
    2023-04-01 0 days 1,515 sqft
    2023-05-01 0 days 1,793 sqft
    2023-06-01 0 days 1,797 sqft
    2023-07-01 0 days 1,850 sqft
    2023-08-01 0 days 1,762 sqft
    2023-09-01 0 days 1,603 sqft
    2023-10-01 0 days 1,774 sqft
    2023-11-01 0 days 1,654 sqft
    2023-12-01 0 days 1,676 sqft
    2024-01-01 0 days 1,683 sqft
    2024-02-01 0 days 1,689 sqft
    2024-03-01 0 days 1,740 sqft
    2024-04-01 0 days 1,755 sqft
    2024-05-01 0 days 1,717 sqft
    2024-06-01 0 days 1,676 sqft
    2024-07-01 0 days 1,708 sqft
    2024-08-01 0 days 1,658 sqft
    2024-09-01 0 days 1,672 sqft
    2024-10-01 0 days 1,647 sqft
    2024-11-01 0 days 1,651 sqft
    2024-12-01 0 days 1,672 sqft
    2025-01-01 0 days 1,674 sqft
    Somerset's median listing age (time on market) for 2025-01-01 was 0 days.

    Somerset's median square footage for active listings during the 2025-01-01 period was 1,674 sqft. One year prior, the average listing was 1,683 sqft.