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 4 lenders originated 11 USDA loans during 2023. The total origination value was $2,095,000, with an average USDA loan value of $190,455.

State College USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in State College averaged 6.31% for the week of 2024-07-12, compared to the national average (all USDA variants) of 6.672% for the same period.

State College's average USDA mortgage closing costs are $6,333.

The average rate for the prior week (2024-07-05) was 6.68% and one month ago for the week of 2024-06-07, the average rate was 6.64%.

The average rate one year ago was 6.63%.

For refis of the same type during the week of 2024-07-12, the average rate was 6.87%.

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

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Jersey Shore State Bank 3 6.96% $6,598
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 5.81% $5,632
Citizens Bank 1 5.25% $7,911
Kish Bank 1 7.25% $6,991

The top State College USDA lender as defined by loan originations is Jersey Shore State Bank, with 3 USDA loans originated. Their average total fees are $6,598, which is $966 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

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 $245,950 (11.9%) $326,723 (10.2%) 0.91 212
2018-02-01 $264,200 (8.7%) $348,603 (12.3%) 0.96 227
2018-03-01 $297,000 (5.6%) $363,380 (9.4%) 1.04 254
2018-04-01 $293,725 (4.9%) $370,731 (12.3%) 1.00 263
2018-05-01 $286,175 (5.8%) $362,863 (13.2%) 0.96 294
2018-06-01 $295,824 (10.3%) $373,913 (16.2%) 0.99 313
2018-07-01 $284,950 (10.6%) $365,469 (20.0%) 0.95 305
2018-08-01 $276,200 (9.5%) $363,625 (19.1%) 0.93 288
2018-09-01 $269,900 (5.5%) $348,033 (9.0%) 0.91 302
2018-10-01 $264,423 (3.8%) $340,813 (6.7%) 0.90 297
2018-11-01 $249,950 (-0.5%) $335,066 (2.3%) 0.85 291
2018-12-01 $239,307 (-0.1%) $316,597 (-3.0%) 0.83 251
2019-01-01 $239,900 (-2.5%) $308,634 (-5.5%) 0.83 208
2019-02-01 $272,050 (3.0%) $321,722 (-7.7%) 0.92 228
2019-03-01 $305,900 (3.0%) $355,037 (-2.3%) 1.00 269
2019-04-01 $328,625 (11.9%) $382,936 (3.3%) 1.04 300
2019-05-01 $321,900 (12.5%) $387,824 (6.9%) 1.01 305
2019-06-01 $318,000 (7.5%) $375,898 (0.5%) 0.99 339
2019-07-01 $303,900 (6.7%) $362,563 (-0.8%) 0.95 352
2019-08-01 $297,536 (7.7%) $357,027 (-1.8%) 0.94 347
2019-09-01 $281,991 (4.5%) $346,079 (-0.6%) 0.90 335
2019-10-01 $269,675 (2.0%) $334,424 (-1.9%) 0.87 327
2019-11-01 $270,495 (8.2%) $330,331 (-1.4%) 0.89 293
2019-12-01 $252,450 (5.5%) $315,755 (-0.3%) 0.84 247
2020-01-01 $259,925 (8.4%) $323,023 (4.7%) 0.87 209
2020-02-01 $281,450 (3.5%) $352,741 (9.6%) 0.92 213
2020-03-01 $301,087 (-1.6%) $370,826 (4.5%) 0.94 255
2020-04-01 $313,450 (-4.6%) $375,417 (-2.0%) 0.98 262
2020-05-01 $305,000 (-5.3%) $372,614 (-3.9%) 0.93 295
2020-06-01 $329,900 (3.7%) $382,590 (1.8%) 0.97 285
2020-07-01 $328,850 (8.2%) $380,299 (4.9%) 0.95 276
2020-08-01 $319,900 (7.5%) $374,887 (5.0%) 0.92 267
2020-09-01 $307,475 (9.0%) $371,215 (7.3%) 0.88 253
2020-10-01 $313,750 (16.3%) $377,325 (12.8%) 0.90 224
2020-11-01 $325,000 (20.2%) $387,602 (17.3%) 0.95 182
2020-12-01 $314,950 (24.8%) $370,539 (17.4%) 0.94 161
2021-01-01 $299,500 (15.2%) $363,498 (12.5%) 0.89 146
2021-02-01 $317,500 (12.8%) $368,812 (4.6%) 0.92 121
2021-03-01 $322,500 (7.1%) $388,086 (4.7%) 0.92 110
2021-04-01 $287,400 (-8.3%) $381,183 (1.5%) 0.78 118
2021-05-01 $302,000 (-1.0%) $380,810 (2.2%) 0.80 137
2021-06-01 $312,450 (-5.3%) $387,465 (1.3%) 0.82 147
2021-07-01 $319,900 (-2.7%) $389,878 (2.5%) 0.84 160
2021-08-01 $299,675 (-6.3%) $378,124 (0.9%) 0.80 167
2021-09-01 $294,218 (-4.3%) $386,670 (4.2%) 0.78 160
2021-10-01 $279,900 (-10.8%) $374,701 (-0.7%) 0.75 161
2021-11-01 $289,000 (-11.1%) $400,407 (3.3%) 0.77 135
2021-12-01 $299,950 (-4.8%) $398,933 (7.7%) 0.81 104
2022-01-01 $291,990 (-2.5%) $428,551 (17.9%) 0.79 87
2022-02-01 $341,250 (7.5%) $486,142 (31.8%) 0.89 77
2022-03-01 $338,250 (4.9%) $462,960 (19.3%) 0.85 93
2022-04-01 $354,900 (23.5%) $455,313 (19.5%) 0.85 106
2022-05-01 $364,725 (20.8%) $431,328 (13.3%) 0.83 121
2022-06-01 $371,875 (19.0%) $417,298 (7.7%) 0.83 134
2022-07-01 $370,000 (15.7%) $427,806 (9.7%) 0.83 156
2022-08-01 $374,975 (25.1%) $435,777 (15.3%) 0.87 156
2022-09-01 $374,500 (27.3%) $433,753 (12.2%) 0.88 155
2022-10-01 $375,000 (34.0%) $435,118 (16.1%) 0.88 151
2022-11-01 $351,945 (21.8%) $421,422 (5.3%) 0.85 143
2022-12-01 $339,900 (13.3%) $417,084 (4.6%) 0.84 113
2023-01-01 $318,000 (8.9%) $405,006 (-5.5%) 0.79 97
2023-02-01 $379,950 (11.3%) $454,929 (-6.4%) 0.92 100
2023-03-01 $417,450 (23.4%) $577,425 (24.7%) 0.98 113
2023-04-01 $429,000 (20.9%) $572,502 (25.7%) 1.00 133
2023-05-01 $461,825 (26.6%) $577,368 (33.9%) 1.05 125
2023-06-01 $447,500 (20.3%) $605,428 (45.1%) 1.01 136
2023-07-01 $450,000 (21.6%) $612,849 (43.3%) 1.02 140
2023-08-01 $433,500 (15.6%) $569,060 (30.6%) 1.00 135
2023-09-01 $450,000 (20.2%) $544,574 (25.6%) 1.05 148
2023-10-01 $421,950 (12.5%) $495,781 (13.9%) 0.99 164
2023-11-01 $399,900 (13.6%) $470,377 (11.6%) 0.95 164
2023-12-01 $369,990 (8.9%) $466,997 (12.0%) 0.90 147
2024-01-01 $368,500 (15.9%) $464,429 (14.7%) 0.90 137
2024-02-01 $373,495 (-1.7%) $470,057 (3.3%) 0.90 132
2024-03-01 $399,500 (-4.3%) $513,740 (-11.0%) 0.94 159
2024-04-01 $398,198 (-7.2%) $519,216 (-9.3%) 0.93 170
2024-05-01 $404,525 (-12.4%) $513,745 (-11.0%) 0.91 162
2024-06-01 $390,000 (-12.9%) $494,368 (-18.3%) 0.88 176
State College's median listing price for 2024-06-01 was $390,000, a difference of $-57,500 (-12.9%) versus the prior year and $-14,525 versus the prior month.

State College's median listing price comes in at 88% of the national average.

State College's average listing price for 2024-06-01 was $494,368, a difference of $-111,060 (-18.3%) versus the prior year and $-19,377 versus the prior month.

For the 2024-06-01 period, State College had 176 MLS listings, a difference of 14 listings (9%) versus the prior month and 40 listings (29%) 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 80 days 1,800 sqft
2018-02-01 80 days 1,850 sqft
2018-03-01 51 days 2,060 sqft
2018-04-01 46 days 2,046 sqft
2018-05-01 45 days 2,047 sqft
2018-06-01 53 days 2,147 sqft
2018-07-01 65 days 2,067 sqft
2018-08-01 70 days 2,130 sqft
2018-09-01 70 days 2,090 sqft
2018-10-01 78 days 2,029 sqft
2018-11-01 79 days 2,012 sqft
2018-12-01 80 days 1,909 sqft
2019-01-01 78 days 1,926 sqft
2019-02-01 75 days 2,028 sqft
2019-03-01 51 days 2,118 sqft
2019-04-01 38 days 2,213 sqft
2019-05-01 44 days 2,229 sqft
2019-06-01 51 days 2,149 sqft
2019-07-01 54 days 2,102 sqft
2019-08-01 59 days 2,079 sqft
2019-09-01 67 days 2,021 sqft
2019-10-01 72 days 1,957 sqft
2019-11-01 72 days 1,872 sqft
2019-12-01 85 days 1,770 sqft
2020-01-01 80 days 1,776 sqft
2020-02-01 56 days 1,842 sqft
2020-03-01 40 days 1,928 sqft
2020-04-01 60 days 1,941 sqft
2020-05-01 72 days 1,923 sqft
2020-06-01 74 days 2,006 sqft
2020-07-01 61 days 1,966 sqft
2020-08-01 57 days 1,963 sqft
2020-09-01 60 days 2,046 sqft
2020-10-01 68 days 2,084 sqft
2020-11-01 83 days 2,102 sqft
2020-12-01 92 days 2,041 sqft
2021-01-01 64 days 1,953 sqft
2021-02-01 45 days 1,876 sqft
2021-03-01 50 days 1,849 sqft
2021-04-01 38 days 1,705 sqft
2021-05-01 37 days 1,847 sqft
2021-06-01 42 days 1,878 sqft
2021-07-01 42 days 1,837 sqft
2021-08-01 43 days 1,877 sqft
2021-09-01 50 days 1,788 sqft
2021-10-01 51 days 1,795 sqft
2021-11-01 60 days 1,808 sqft
2021-12-01 69 days 1,849 sqft
2022-01-01 75 days 1,927 sqft
2022-02-01 53 days 2,008 sqft
2022-03-01 32 days 1,954 sqft
2022-04-01 31 days 1,956 sqft
2022-05-01 32 days 1,969 sqft
2022-06-01 32 days 1,959 sqft
2022-07-01 33 days 1,938 sqft
2022-08-01 43 days 1,986 sqft
2022-09-01 49 days 1,969 sqft
2022-10-01 51 days 1,971 sqft
2022-11-01 57 days 1,853 sqft
2022-12-01 68 days 1,912 sqft
2023-01-01 75 days 1,820 sqft
2023-02-01 59 days 2,030 sqft
2023-03-01 33 days 2,196 sqft
2023-04-01 31 days 2,250 sqft
2023-05-01 46 days 2,257 sqft
2023-06-01 40 days 2,385 sqft
2023-07-01 37 days 2,260 sqft
2023-08-01 46 days 2,263 sqft
2023-09-01 38 days 2,335 sqft
2023-10-01 40 days 2,163 sqft
2023-11-01 43 days 2,085 sqft
2023-12-01 57 days 2,000 sqft
2024-01-01 72 days 2,000 sqft
2024-02-01 49 days 1,969 sqft
2024-03-01 36 days 2,016 sqft
2024-04-01 38 days 2,043 sqft
2024-05-01 43 days 2,100 sqft
2024-06-01 39 days 2,115 sqft
State College's median listing age (time on market) for 2024-06-01 was 39 days. This is -3% shorter than the same period one year ago.

State College's median square footage for active listings during the 2024-06-01 period was 2,115 sqft. One year prior, the average listing was 2,385 sqft.