Somerset Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Somerset averaged
6.73%
for the week of 2025-07-03, compared to the national average of
6.67% for the same period.
The average rate for the prior week (2025-06-26) was
6.73% and
one month ago for the week of 2025-05-29, the
average rate was 6.85%.
Somerset's average rate one year ago was 6.72%.
For refis of the same type during the week of 2025-07-03, the average rate
was 6.57%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-07-03 | 6.67% |
| Somerset 30 Year Fixed Rate | 2025-07-03 | 6.73% |
| Somerset 30 Year Fixed Rate Refi | 2025-07-03 | 6.57% |
| Somerset 15 Year Fixed Rate | 2025-07-03 | 6% |
| Somerset 15 Year Fixed Rate Refi | 2025-07-03 | 5.8% |
| Somerset 30 Year FHA | 2025-07-03 | 0.1% |
| Somerset 30 Year FHA Refi | 2025-07-03 | 0.2% |
| Somerset 30 Year USDA | 2025-07-03 | -0.1% |
| Somerset 30 Year USDA Refi | 2025-07-03 | -0.1% |
| Somerset 30 Year VA | 2025-07-03 | 0% |
| Somerset 30 Year VA Refi | 2025-07-03 | 0.2% |
Somerset Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Somerset, PA market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Somerset Average Closing Costs & Other Stats
Somerset, PA's 73 lenders originated 1,258
loans during 2024. The total origination value was $166,790,000, with an average loan value of
$132,583.
Somerset's average closing costs are $4,842.
The top Somerset lender as defined by loan originations is First National Bank of Pennsylvania, with
39 loans originated. Their average total fees are
$4,497, which is $517
higher than the next largest lender,
SOMERSET TRUST COMPANY.
The lowest fee Somerset lenders (with over 10 loans originated) are
SOMERSET TRUST COMPANY ($3,980), First Commonwealth Bank ($4,420), First National Bank of Pennsylvania ($4,497), FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION ($4,554) and PNC Bank ($4,912).
The lowest rate Somerset lenders (with over 10 loans originated) are
FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION (6.09%), PNC Bank (6.34%), First Commonwealth Bank (6.65%), SOMERSET TRUST COMPANY (6.66%) and First National Bank of Pennsylvania (6.72%).
Somerset, PA Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| SOMERSET TRUST COMPANY | $24,995,000 | $27,375,000 | 9.5% | 16.4% |
| First National Bank of Pennsylvania | $12,555,000 | $23,670,000 | 88.5% | 14.2% |
| QUICKEN LOANS, LLC | $6,520,000 | $8,885,000 | 36.3% | 5.3% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $7,715,000 | $7,780,000 | 0.8% | 4.7% |
| PNC Bank | $6,470,000 | $7,080,000 | 9.4% | 4.2% |
| First Commonwealth Bank | $6,770,000 | $6,900,000 | 1.9% | 4.1% |
| 1st Summit Bank | $8,170,000 | $5,950,000 | -27.2% | 3.6% |
| FIRST PEOPLES COMMUNITY FEDERAL CREDIT UNION | $8,360,000 | $5,050,000 | -39.6% | 3.0% |
| AmeriServ Financial Bank | $2,265,000 | $4,995,000 | 120.5% | 3.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,565,000 | $3,850,000 | 146.0% | 2.3% |
| Mortgage Research Center, LLC | $3,750,000 | $3,230,000 | -13.9% | 1.9% |
| Slovenian Savings & Loan Association of Franklin-Conemaugh | $5,135,000 | $2,860,000 | -44.3% | 1.7% |
| MOVEMENT MORTGAGE, LLC | $2,615,000 | $2,440,000 | -6.7% | 1.5% |
| Dollar Bank, Federal Savings Bank | $650,000 | $2,335,000 | 259.2% | 1.4% |
| PENNSYLVANIA STATE EMPLOYEES Credit Union | $1,870,000 | $2,215,000 | 18.4% | 1.3% |
| NAVY FEDERAL CREDIT UNION | $1,215,000 | $1,980,000 | 63.0% | 1.2% |
| S&T Bank | $4,510,000 | $1,835,000 | -59.3% | 1.1% |
| InFirst Bank | $4,130,000 | $1,785,000 | -56.8% | 1.1% |
| MidAtlantic Farm Credit, ACA | $975,000 | $1,785,000 | 83.1% | 1.1% |
| Citizens Bank | $1,400,000 | $1,675,000 | 19.6% | 1.0% |
| Commercial Bank and Trust of PA | $665,000 | $1,475,000 | 121.8% | 0.9% |
| CNB Bank | $545,000 | $1,385,000 | 154.1% | 0.8% |
| 21ST MORTGAGE CORPORATION | $270,000 | $1,375,000 | 409.3% | 0.8% |
| HOMESTEAD FUNDING CORP. | $1,250,000 | n/a | 0.7% | |
| U.S. Bank | $1,210,000 | n/a | 0.7% | |
| CROSSCOUNTRY MORTGAGE, LLC | $545,000 | $1,185,000 | 117.4% | 0.7% |
| UNION HOME MORTGAGE CORP. | $640,000 | $1,155,000 | 80.5% | 0.7% |
| Mr. Cooper ( Nationstar Mortgage ) | $545,000 | $1,060,000 | 94.5% | 0.6% |
| EQUITY RESOURCES, INC. | $210,000 | $965,000 | 359.5% | 0.6% |
| Victorian Finance, LLC | $215,000 | $950,000 | 341.9% | 0.6% |
| M&T Bank | $95,000 | $885,000 | 831.6% | 0.5% |
| Wells Fargo Bank | $2,850,000 | $840,000 | -70.5% | 0.5% |
| BMO Harris Bank | $835,000 | n/a | 0.5% | |
| Bank of America | $135,000 | $760,000 | 463.0% | 0.5% |
| PENTAGON FEDERAL CREDIT UNION | $1,055,000 | $745,000 | -29.4% | 0.4% |
| PLAZA HOME MORTGAGE, INC. | $540,000 | $710,000 | 31.5% | 0.4% |
| BAY EQUITY LLC | $155,000 | $695,000 | 348.4% | 0.4% |
| Wayne Bank | $405,000 | $655,000 | 61.7% | 0.4% |
| USSCO Federal Credit Union | $1,065,000 | $640,000 | -39.9% | 0.4% |
| JPMorgan Chase Bank | $395,000 | $610,000 | 54.4% | 0.4% |
| GUILD MORTGAGE COMPANY | $395,000 | $605,000 | 53.2% | 0.4% |
| Gateway First Bank | $575,000 | n/a | 0.3% | |
| AFFORDABLE MORTGAGE ADVISORS, LLC. | $480,000 | $545,000 | 13.5% | 0.3% |
| PENNYMAC LOAN SERVICES, LLC | $290,000 | $545,000 | 87.9% | 0.3% |
| Clear Mountain Bank | $540,000 | n/a | 0.3% | |
| BROKER SOLUTIONS, INC. | $75,000 | $530,000 | 606.7% | 0.3% |
| NBKC BANK | $255,000 | $520,000 | 103.9% | 0.3% |
| EMM LOANS LLC | $105,000 | $505,000 | 381.0% | 0.3% |
| KeyBank | $505,000 | n/a | 0.3% | |
| USAA Federal Savings Bank | $600,000 | $495,000 | -17.5% | 0.3% |
| HOWARD HANNA FINANCIAL SERVICES, INC. | $1,060,000 | $460,000 | -56.6% | 0.3% |
| Univest Bank and Trust Co. | $445,000 | n/a | 0.3% | |
| Flagstar Bank, FSB | $360,000 | $440,000 | 22.2% | 0.3% |
| DEEPHAVEN MORTGAGE LLC | $435,000 | n/a | 0.3% | |
| FIDELITY DIRECT MORTGAGE, LLC | $185,000 | $435,000 | 135.1% | 0.3% |
| First Federal Bank of the Midwest | $425,000 | n/a | 0.3% | |
| Reliance Savings Bank | $425,000 | n/a | 0.3% | |
| C-B-W Schools Federal Credit Union | $75,000 | $415,000 | 453.3% | 0.2% |
| STOCKTON MORTGAGE CORPORATION | $440,000 | $390,000 | -11.4% | 0.2% |
| MILLENNIUM FINANCIAL GROUP, INC. | $380,000 | n/a | 0.2% | |
| The Huntington National Bank | $380,000 | n/a | 0.2% | |
| Clearview Federal Credit Union | $495,000 | $370,000 | -25.3% | 0.2% |
| Fifth Third Bank | $365,000 | n/a | 0.2% | |
| FREEDOM MORTGAGE CORPORATION | $185,000 | $365,000 | 97.3% | 0.2% |
| Carrington Mortgage Services, LLC | $210,000 | $350,000 | 66.7% | 0.2% |
| First United Corporation | $285,000 | $340,000 | 19.3% | 0.2% |
| CHESSIE | $35,000 | $330,000 | 842.9% | 0.2% |
| WEST PENN FINANCIAL SERVICE CENTER, INC. | $2,070,000 | $330,000 | -84.1% | 0.2% |
| NEW DAY FINANCIAL, LLC | $770,000 | $325,000 | -57.8% | 0.2% |
| PennCrest Bank | $305,000 | n/a | 0.2% | |
| Brentwood Bank | $295,000 | n/a | 0.2% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $280,000 | n/a | 0.2% | |
| MEMBERS 1ST FEDERAL CREDIT UNION | $25,000 | $270,000 | 980.0% | 0.2% |
| ZILLOW HOME LOANS, LLC | $400,000 | $270,000 | -32.5% | 0.2% |
| Equity Prime Mortgage LLC | $355,000 | $255,000 | -28.2% | 0.2% |
| Sail Mortgage Corp. | $250,000 | n/a | 0.1% | |
| TIDEWATER MORTGAGE SERVICES, INC. | $245,000 | n/a | 0.1% | |
| United Bank | $245,000 | n/a | 0.1% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $215,000 | n/a | 0.1% | |
| FIRST COMMUNITY MORTGAGE, INC. | $215,000 | n/a | 0.1% | |
| RELIANCE FIRST CAPITAL, LLC | $215,000 | n/a | 0.1% | |
| The Farmers National Bank of Canfield | $255,000 | $215,000 | -15.7% | 0.1% |
| HOMEXPRESS MORTGAGE CORP. | $205,000 | n/a | 0.1% | |
| NEWREZ LLC | $205,000 | n/a | 0.1% | |
| Presidential Bank, FSB | $205,000 | n/a | 0.1% | |
| Texana Bank | $205,000 | n/a | 0.1% | |
| PROVIDENT FUNDING ASSOCIATES, L.P. | $195,000 | n/a | 0.1% | |
| VILLAGE CAPITAL MORTGAGE | $195,000 | n/a | 0.1% | |
| JMAC LENDING, INC. | $185,000 | n/a | 0.1% | |
| Union Savings Bank | $2,310,000 | $185,000 | -92.0% | 0.1% |
| AMERISAVE MORTGAGE CORPORATION | $95,000 | $180,000 | 89.5% | 0.1% |
| American Financial Mortgage Corporation | $175,000 | n/a | 0.1% | |
| Figure Lending LLC | $70,000 | $170,000 | 142.9% | 0.1% |
| LOANDEPOT.COM, LLC | $260,000 | $160,000 | -38.5% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $190,000 | $160,000 | -15.8% | 0.1% |
| RADIUS FINANCIAL GROUP INC. | $155,000 | n/a | 0.1% | |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $1,405,000 | $155,000 | -89.0% | 0.1% |
| NATIONS RELIABLE LENDING, LLC | $460,000 | $150,000 | -67.4% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $375,000 | $145,000 | -61.3% | 0.1% |
| CFSBANK | $45,000 | $135,000 | 200.0% | 0.1% |
| TOTAL MORTGAGE SERVICES, LLC | $135,000 | n/a | 0.1% | |
| Discover Bank | $65,000 | $130,000 | 100.0% | 0.1% |
| FIRST HERITAGE FINANCIAL, LLC | $130,000 | n/a | 0.1% | |
| MERCK SHARP & DOHME FEDERAL CREDIT UNION | $125,000 | n/a | 0.1% | |
| MICHIGAN MUTUAL, INC. | $340,000 | $125,000 | -63.2% | 0.1% |
| Nations Lending Corporation | $125,000 | n/a | 0.1% | |
| The Loan Store, Inc. | $125,000 | n/a | 0.1% | |
| Northwest Bank | $1,235,000 | $110,000 | -91.1% | 0.1% |
| TRIAD FINANCIAL SERVICES, INC. | $345,000 | $110,000 | -68.1% | 0.1% |
| Beeline Loans, Inc. | $105,000 | n/a | 0.1% | |
| Century Mortgage Company DBA Century Lending Company | $105,000 | n/a | 0.1% | |
| Mid Penn Bank | $190,000 | $105,000 | -44.7% | 0.1% |
| Paramount Residential Mortgage Group, Inc. | $105,000 | n/a | 0.1% | |
| ROYAL UNITED MORTGAGE LLC | $495,000 | $105,000 | -78.8% | 0.1% |
| THRIVENT Federal Credit Union | $105,000 | n/a | 0.1% | |
| ACNB Bank | $95,000 | n/a | 0.1% | |
| Alcova Mortgage LLC | $95,000 | n/a | 0.1% | |
| FEDERATED MORTGAGE CORP. | $85,000 | n/a | 0.1% | |
| Wayne Savings Community Bank | $85,000 | n/a | 0.1% | |
| CMG MORTGAGE, INC. | $220,000 | $75,000 | -65.9% | 0.0% |
| JLB CORPORATION | $315,000 | $75,000 | -76.2% | 0.0% |
| York Traditions Bank | $75,000 | n/a | 0.0% | |
| GUARANTEED RATE, INC. | $465,000 | $65,000 | -86.0% | 0.0% |
| Third Federal Savings and Loan Association of Cleveland | $65,000 | n/a | 0.0% | |
| TOP FLITE FINANCIAL, INC. | $85,000 | $65,000 | -23.5% | 0.0% |
| Coastal Community Bank | $65,000 | $60,000 | -7.7% | 0.0% |
| STATE EMPLOYEES CREDIT UNION OF MARYLAND, INCORPORATED | $165,000 | $60,000 | -63.6% | 0.0% |
| BETTER MORTGAGE CORPORATION | $55,000 | n/a | 0.0% | |
| FINANCE OF AMERICA REVERSE LLC | $55,000 | n/a | 0.0% | |
| POLICE & FIRE | $45,000 | n/a | 0.0% | |
| UTILITIES EMPLOYEES CREDIT UNION | $720,000 | $45,000 | -93.8% | 0.0% |
| ACT 1ST FCU | $55,000 | $35,000 | -36.4% | 0.0% |
| PHEPLE FCU | $55,000 | $25,000 | -54.5% | 0.0% |
| FRICK FINANCIAL FEDERAL CREDIT UNION | $15,000 | n/a | 0.0% |
Somerset's top lender by overall market share is SOMERSET TRUST COMPANY, with 16.4% market share. In second place, with 14.2%, is First National Bank of Pennsylvania, having originated $23,670,000 in loans. In third place, with 5.3%, is QUICKEN LOANS, LLC, having originated $8,885,000 in loans. In fourth place, with 4.7%, is PRIMELENDING, A PLAINSCAPITAL COMPANY, having originated $7,780,000 in loans. In fifth place, with 4.2%, is PNC Bank, having originated $7,080,000 in loans.
Somerset, PA Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 564 | $100,210,000 | $177,677 |
| Refi | 215 | $24,935,000 | $115,977 |
| Home Improvement | 210 | $14,060,000 | $66,952 |
| Other | 192 | $16,680,000 | $86,875 |
| Cash Out Refi | 77 | $10,905,000 | $141,623 |
Somerset's most frequently cited loan purpose was Home Purchase, with 564 originations. The 2nd most popular reason was Refi, with 215 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 437 | $68,145,000 | $155,938 |
| 7-8% | 286 | $41,540,000 | $145,245 |
| 5-6% | 269 | $28,125,000 | $104,554 |
| Over 8% | 144 | $12,760,000 | $88,611 |
| 4-5% | 21 | $3,345,000 | $159,286 |
| <2.5% | 13 | $515,000 | $39,615 |
| 3-4% | 2 | $650,000 | $325,000 |
| 2.5-3% | 2 | $120,000 | $60,000 |
During 2024, Somerset's most frequently originated rate bucket was 6-7%, with 437 originations.
Loan Sizing (Somerset, PA MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100,000 or less | 636 | $33,680,000 | $52,956 |
| $100k-200k | 378 | $53,620,000 | $141,852 |
| $200k-400k | 188 | $49,270,000 | $262,074 |
| $400k-600k | 40 | $18,450,000 | $461,250 |
| $600k-1000k | 16 | $11,770,000 | $735,625 |
Somerset's loan sizing saw the bucket of loans from $100,000 or less with 636 originations, totaling $33,680,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 373 | $65,365,000 | $175,241 |
| 60-80% | 243 | $41,415,000 | $170,432 |
| 20-40% | 208 | $14,630,000 | $70,337 |
| Under 20% | 173 | $6,925,000 | $40,029 |
| 40-60% | 151 | $20,905,000 | $138,444 |
| Over 100% | 12 | $2,750,000 | $229,167 |
Somerset's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 373 originations, totaling $65,365,000 in origination value.