State College USDA Loan Rates, Closing Costs & Stats
STATE COLLEGE, 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.
State College's 12 lenders originated 41 USDA loans during 2022. The total origination value was $8,445,000, with an average USDA loan value of $205,976.
State College USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in State College
averaged
6.39%
for the week of 2023-05-26, compared to the national average (all USDA variants) of
6.63% for the same period.
State College's average USDA mortgage closing costs are $6,326.
The average rate for the prior week (2023-05-19) was
5.83% and
one month ago for the week of 2023-04-21, the
average rate was 5.94%.
The average rate one year ago was 4.66%.
For refis of the same type during the week of 2023-05-26, the average rate
was 4.86%.
State College 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 State College level.
| Name | # of Loans | 2022 Avg. 30yFix Rate | 2022 Avg. Closing Costs |
|---|---|---|---|
| Jersey Shore State Bank | 8 | 4.83% | $6,858 |
| Century Mortgage Company DBA Century Lending Company | 5 | 4.80% | $7,820 |
| Flagstar Bank, FSB | 4 | 3.38% | $6,220 |
| Citizens Bank | 3 | 5.83% | $8,346 |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 2 | 4.75% | $6,042 |
| UNITED WHOLESALE MORTGAGE, LLC | 2 | 4.58% | $6,453 |
| Prosperity Home Mortgage, LLC | 1 | 3.99% | $8,859 |
| TOWNE MORTGAGE COMPANY | 1 | 3.00% | $10,134 |
| Kish Bank | 1 | 5.00% | $5,318 |
| HOMESIDE FINANCIAL, LLC | 1 | 4.00% | $8,547 |
| EMM LOANS LLC | 1 | 5.00% | $8,915 |
| Northwest Bank | 1 | 4.00% | $5,585 |
The top State College USDA lender as defined by loan originations is Jersey Shore State Bank, with
8 USDA loans originated. Their average total fees are
$6,858, which is $962
lower than the next largest lender,
Century Mortgage Company DBA Century Lending Company.
The lowest fee State College USDA lenders (with over 10 loans originated) are
.
The lowest rate State College USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - State College (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 | $246,175 (11.9%) | $325,621 (9.9%) | 0.91 | 214 |
| 2018-02-01 | $262,700 (6.4%) | $347,418 (11.8%) | 0.96 | 228 |
| 2018-03-01 | $293,450 (4.8%) | $362,319 (8.7%) | 1.03 | 255 |
| 2018-04-01 | $293,175 (4.7%) | $369,634 (12.0%) | 0.99 | 264 |
| 2018-05-01 | $284,950 (4.7%) | $361,919 (12.8%) | 0.95 | 295 |
| 2018-06-01 | $295,412 (9.6%) | $372,985 (15.9%) | 0.99 | 314 |
| 2018-07-01 | $284,700 (9.8%) | $364,588 (19.6%) | 0.95 | 306 |
| 2018-08-01 | $276,200 (9.5%) | $363,625 (19.2%) | 0.93 | 288 |
| 2018-09-01 | $269,700 (4.8%) | $347,213 (9.0%) | 0.91 | 303 |
| 2018-10-01 | $264,423 (3.8%) | $339,977 (6.7%) | 0.90 | 299 |
| 2018-11-01 | $249,975 (-1.2%) | $334,671 (2.4%) | 0.85 | 292 |
| 2018-12-01 | $239,500 (-0.2%) | $316,634 (-2.7%) | 0.83 | 252 |
| 2019-01-01 | $239,900 (-2.6%) | $308,713 (-5.2%) | 0.83 | 209 |
| 2019-02-01 | $273,225 (4.0%) | $321,743 (-7.4%) | 0.92 | 229 |
| 2019-03-01 | $305,101 (4.0%) | $362,151 (-0.1%) | 1.02 | 269 |
| 2019-04-01 | $331,000 (12.9%) | $382,391 (3.5%) | 1.05 | 302 |
| 2019-05-01 | $321,900 (13.0%) | $388,051 (7.2%) | 1.01 | 307 |
| 2019-06-01 | $319,000 (8.0%) | $376,332 (0.9%) | 1.00 | 340 |
| 2019-07-01 | $304,175 (6.8%) | $363,018 (-0.4%) | 0.95 | 353 |
| 2019-08-01 | $307,900 (11.5%) | $362,424 (-0.3%) | 0.97 | 348 |
| 2019-09-01 | $297,450 (10.3%) | $363,160 (4.6%) | 0.94 | 323 |
| 2019-10-01 | $269,925 (2.1%) | $334,978 (-1.5%) | 0.87 | 325 |
| 2019-11-01 | $270,990 (8.4%) | $331,566 (-0.9%) | 0.89 | 294 |
| 2019-12-01 | $252,500 (5.4%) | $317,204 (0.2%) | 0.84 | 247 |
| 2020-01-01 | $261,000 (8.8%) | $324,727 (5.2%) | 0.87 | 209 |
| 2020-02-01 | $282,000 (3.2%) | $354,411 (10.2%) | 0.92 | 213 |
| 2020-03-01 | $304,674 (-0.1%) | $372,478 (2.9%) | 0.96 | 255 |
| 2020-04-01 | $314,475 (-5.0%) | $376,248 (-1.6%) | 0.99 | 261 |
| 2020-05-01 | $305,000 (-5.3%) | $372,614 (-4.0%) | 0.93 | 295 |
| 2020-06-01 | $329,900 (3.4%) | $382,590 (1.7%) | 0.97 | 285 |
| 2020-07-01 | $328,850 (8.1%) | $380,299 (4.8%) | 0.95 | 276 |
| 2020-08-01 | $319,900 (3.9%) | $374,887 (3.4%) | 0.92 | 267 |
| 2020-09-01 | $307,475 (3.4%) | $371,215 (2.2%) | 0.88 | 253 |
| 2020-10-01 | $313,750 (16.2%) | $377,325 (12.6%) | 0.90 | 224 |
| 2020-11-01 | $325,000 (19.9%) | $387,602 (16.9%) | 0.95 | 182 |
| 2020-12-01 | $314,950 (24.7%) | $370,539 (16.8%) | 0.94 | 161 |
| 2021-01-01 | $299,500 (14.8%) | $363,498 (11.9%) | 0.89 | 146 |
| 2021-02-01 | $317,500 (12.6%) | $368,812 (4.1%) | 0.92 | 121 |
| 2021-03-01 | $322,500 (5.9%) | $388,086 (4.2%) | 0.92 | 110 |
| 2021-04-01 | $287,400 (-8.6%) | $381,878 (1.5%) | 0.78 | 118 |
| 2021-05-01 | $307,000 (0.7%) | $385,245 (3.4%) | 0.82 | 139 |
| 2021-06-01 | $314,975 (-4.5%) | $390,788 (2.1%) | 0.83 | 148 |
| 2021-07-01 | $320,200 (-2.6%) | $391,561 (3.0%) | 0.84 | 161 |
| 2021-08-01 | $302,400 (-5.5%) | $379,305 (1.2%) | 0.81 | 167 |
| 2021-09-01 | $296,490 (-3.6%) | $387,762 (4.5%) | 0.79 | 159 |
| 2021-10-01 | $279,900 (-10.8%) | $374,701 (-0.7%) | 0.75 | 161 |
| 2021-11-01 | $290,750 (-10.5%) | $401,470 (3.6%) | 0.78 | 137 |
| 2021-12-01 | $299,950 (-4.8%) | $398,653 (7.6%) | 0.81 | 106 |
| 2022-01-01 | $291,990 (-2.5%) | $427,509 (17.6%) | 0.79 | 89 |
| 2022-02-01 | $346,250 (9.1%) | $487,280 (32.1%) | 0.90 | 79 |
| 2022-03-01 | $343,500 (6.5%) | $466,172 (20.1%) | 0.86 | 97 |
| 2022-04-01 | $362,500 (26.1%) | $465,321 (21.9%) | 0.86 | 111 |
| 2022-05-01 | $374,500 (22.0%) | $444,678 (15.4%) | 0.86 | 130 |
| 2022-06-01 | $389,000 (23.5%) | $432,291 (10.6%) | 0.87 | 141 |
| 2022-07-01 | $384,000 (19.9%) | $435,973 (11.3%) | 0.87 | 161 |
| 2022-08-01 | $384,700 (27.2%) | $445,666 (17.5%) | 0.89 | 163 |
| 2022-09-01 | $385,775 (30.1%) | $443,044 (14.3%) | 0.90 | 162 |
| 2022-10-01 | $384,700 (37.4%) | $447,553 (19.4%) | 0.91 | 156 |
| 2022-11-01 | $361,973 (24.5%) | $432,506 (7.7%) | 0.87 | 148 |
| 2022-12-01 | $349,900 (16.7%) | $425,609 (6.8%) | 0.86 | 116 |
| 2023-01-01 | $331,000 (13.4%) | $418,024 (-2.2%) | 0.82 | 100 |
| 2023-02-01 | $394,900 (14.1%) | $463,353 (-4.9%) | 0.95 | 100 |
| 2023-03-01 | $421,225 (22.6%) | $577,425 (23.9%) | 0.99 | 113 |
| 2023-04-01 | $429,000 (18.3%) | $573,417 (23.2%) | 1.00 | 133 |
State College's median listing price comes in at 100% of the national average.
State College's average listing price for 2023-04-01 was $573,417, a difference of $108,096 (23.2%) versus the prior year and $-4,008 versus the prior month.
For the 2023-04-01 period, State College had 133 MLS listings, a difference of 20 listings (18%) versus the prior month and 22 listings (20%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - State College (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 87 days | 1,800 sqft |
| 2018-02-01 | 87 days | 1,849 sqft |
| 2018-03-01 | 61 days | 2,052 sqft |
| 2018-04-01 | 51 days | 2,028 sqft |
| 2018-05-01 | 47 days | 2,037 sqft |
| 2018-06-01 | 56 days | 2,140 sqft |
| 2018-07-01 | 69 days | 2,061 sqft |
| 2018-08-01 | 73 days | 2,127 sqft |
| 2018-09-01 | 77 days | 2,084 sqft |
| 2018-10-01 | 81 days | 2,019 sqft |
| 2018-11-01 | 85 days | 2,003 sqft |
| 2018-12-01 | 87 days | 1,900 sqft |
| 2019-01-01 | 84 days | 1,913 sqft |
| 2019-02-01 | 87 days | 2,018 sqft |
| 2019-03-01 | 52 days | 2,100 sqft |
| 2019-04-01 | 45 days | 2,226 sqft |
| 2019-05-01 | 47 days | 2,227 sqft |
| 2019-06-01 | 54 days | 2,150 sqft |
| 2019-07-01 | 59 days | 2,103 sqft |
| 2019-08-01 | 68 days | 2,093 sqft |
| 2019-09-01 | 75 days | 2,070 sqft |
| 2019-10-01 | 75 days | 1,966 sqft |
| 2019-11-01 | 73 days | 1,872 sqft |
| 2019-12-01 | 88 days | 1,775 sqft |
| 2020-01-01 | 86 days | 1,784 sqft |
| 2020-02-01 | 64 days | 1,849 sqft |
| 2020-03-01 | 44 days | 1,932 sqft |
| 2020-04-01 | 62 days | 1,944 sqft |
| 2020-05-01 | 74 days | 1,923 sqft |
| 2020-06-01 | 83 days | 2,006 sqft |
| 2020-07-01 | 72 days | 1,966 sqft |
| 2020-08-01 | 60 days | 1,963 sqft |
| 2020-09-01 | 66 days | 2,046 sqft |
| 2020-10-01 | 78 days | 2,084 sqft |
| 2020-11-01 | 89 days | 2,102 sqft |
| 2020-12-01 | 99 days | 2,041 sqft |
| 2021-01-01 | 72 days | 1,953 sqft |
| 2021-02-01 | 53 days | 1,876 sqft |
| 2021-03-01 | 55 days | 1,849 sqft |
| 2021-04-01 | 41 days | 1,715 sqft |
| 2021-05-01 | 39 days | 1,847 sqft |
| 2021-06-01 | 43 days | 1,888 sqft |
| 2021-07-01 | 43 days | 1,844 sqft |
| 2021-08-01 | 45 days | 1,882 sqft |
| 2021-09-01 | 51 days | 1,798 sqft |
| 2021-10-01 | 52 days | 1,795 sqft |
| 2021-11-01 | 60 days | 1,810 sqft |
| 2021-12-01 | 69 days | 1,850 sqft |
| 2022-01-01 | 78 days | 1,925 sqft |
| 2022-02-01 | 54 days | 2,000 sqft |
| 2022-03-01 | 33 days | 1,955 sqft |
| 2022-04-01 | 34 days | 1,925 sqft |
| 2022-05-01 | 33 days | 1,964 sqft |
| 2022-06-01 | 36 days | 1,955 sqft |
| 2022-07-01 | 37 days | 1,945 sqft |
| 2022-08-01 | 46 days | 2,003 sqft |
| 2022-09-01 | 51 days | 1,982 sqft |
| 2022-10-01 | 53 days | 1,990 sqft |
| 2022-11-01 | 57 days | 1,910 sqft |
| 2022-12-01 | 68 days | 1,945 sqft |
| 2023-01-01 | 77 days | 1,865 sqft |
| 2023-02-01 | 71 days | 2,089 sqft |
| 2023-03-01 | 39 days | 2,194 sqft |
| 2023-04-01 | 33 days | 2,257 sqft |
State College's median square footage for active listings during the 2023-04-01 period was 2,257 sqft. One year prior, the average listing was 1,925 sqft.