Albany USDA Loan Rates, Closing Costs & Stats

ALBANY, GA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Albany's 9 lenders originated 13 USDA loans during 2023. The total origination value was $2,085,000, with an average USDA loan value of $160,385.

    Albany USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Albany averaged 7.04% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Albany's average USDA mortgage closing costs are $4,869.

    The average rate for the prior week (2024-04-12) was 6.89% and one month ago for the week of 2024-03-15, the average rate was 6.57%.

    The average rate one year ago was 6.51%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Albany 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 Albany level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Flagstar Bank, FSB 3 7.17% $7,714
    Synovus Bank 2 5.56% $7,600
    MORTGAGE INVESTORS GROUP, INC. 1 6.25% $5,271
    PLAZA HOME MORTGAGE, INC. 1 5.75% $9,693
    Renasant Bank 1 6.75% $6,587
    UNION HOME MORTGAGE CORP. 1 6.13% $4,031
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $5,186
    UNITED WHOLESALE MORTGAGE, LLC 1 6.50% $12,292
    CANOPY MORTGAGE, LLC 1 7.13% $6,169

    The top Albany USDA lender as defined by loan originations is Flagstar Bank, FSB, with 3 USDA loans originated. Their average total fees are $7,714, which is $114 higher than the next largest lender, Synovus Bank.

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

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Albany (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 $119,900 (4.3%) $150,518 (9.8%) 0.44 581
    2018-02-01 $119,900 (4.3%) $154,222 (13.2%) 0.44 581
    2018-03-01 $124,000 (7.4%) $154,431 (8.4%) 0.44 603
    2018-04-01 $129,900 (9.3%) $161,849 (9.1%) 0.44 590
    2018-05-01 $129,900 (8.3%) $164,043 (5.0%) 0.43 589
    2018-06-01 $129,900 (0.4%) $163,899 (2.1%) 0.43 602
    2018-07-01 $122,500 (-4.3%) $155,992 (-1.6%) 0.41 612
    2018-08-01 $128,950 (-0.8%) $157,633 (-3.7%) 0.43 593
    2018-09-01 $125,000 (-3.8%) $156,084 (-4.3%) 0.42 619
    2018-10-01 $126,375 (-1.0%) $155,465 (-3.3%) 0.43 608
    2018-11-01 $122,450 (-5.4%) $152,829 (-1.2%) 0.42 597
    2018-12-01 $118,450 (-5.2%) $149,094 (-1.8%) 0.41 560
    2019-01-01 $116,900 (-2.5%) $147,935 (-1.7%) 0.40 494
    2019-02-01 $116,258 (-3.0%) $146,725 (-4.9%) 0.39 485
    2019-03-01 $118,329 (-4.6%) $148,143 (-4.1%) 0.39 487
    2019-04-01 $118,479 (-8.8%) $149,058 (-7.9%) 0.38 498
    2019-05-01 $115,975 (-10.7%) $148,259 (-9.6%) 0.36 511
    2019-06-01 $116,500 (-10.3%) $147,950 (-9.7%) 0.36 538
    2019-07-01 $122,500 (0.0%) $151,270 (-3.0%) 0.38 583
    2019-08-01 $119,964 (-7.0%) $150,636 (-4.4%) 0.38 595
    2019-09-01 $119,984 (-4.0%) $151,339 (-3.0%) 0.38 564
    2019-10-01 $119,998 (-5.1%) $152,021 (-2.2%) 0.39 527
    2019-11-01 $129,900 (6.1%) $157,943 (3.4%) 0.43 487
    2019-12-01 $134,950 (13.9%) $161,995 (8.7%) 0.45 456
    2020-01-01 $134,925 (15.4%) $160,396 (8.4%) 0.45 420
    2020-02-01 $135,000 (16.1%) $160,675 (9.5%) 0.44 431
    2020-03-01 $132,450 (11.9%) $159,535 (7.7%) 0.42 448
    2020-04-01 $134,900 (13.9%) $162,451 (9.0%) 0.42 431
    2020-05-01 $135,000 (16.4%) $163,307 (10.2%) 0.41 406
    2020-06-01 $137,425 (18.0%) $170,124 (15.0%) 0.40 356
    2020-07-01 $137,450 (12.2%) $169,379 (12.0%) 0.40 291
    2020-08-01 $135,000 (12.5%) $167,279 (11.1%) 0.39 279
    2020-09-01 $142,100 (18.4%) $180,815 (19.5%) 0.41 264
    2020-10-01 $149,900 (24.9%) $184,503 (21.4%) 0.43 279
    2020-11-01 $145,000 (11.6%) $181,726 (15.1%) 0.42 252
    2020-12-01 $144,000 (6.7%) $184,724 (14.0%) 0.43 254
    2021-01-01 $144,950 (7.4%) $185,940 (15.9%) 0.43 236
    2021-02-01 $138,875 (2.9%) $179,597 (11.8%) 0.40 228
    2021-03-01 $122,850 (-7.3%) $171,325 (7.4%) 0.35 217
    2021-04-01 $119,975 (-11.1%) $163,593 (0.7%) 0.32 208
    2021-05-01 $110,000 (-18.5%) $166,599 (2.0%) 0.29 193
    2021-06-01 $127,475 (-7.2%) $167,394 (-1.6%) 0.34 193
    2021-07-01 $133,500 (-2.9%) $168,435 (-0.6%) 0.35 210
    2021-08-01 $126,525 (-6.3%) $163,146 (-2.5%) 0.34 225
    2021-09-01 $139,900 (-1.6%) $169,552 (-6.2%) 0.37 246
    2021-10-01 $139,900 (-6.7%) $166,621 (-9.7%) 0.37 212
    2021-11-01 $134,475 (-7.3%) $168,312 (-7.4%) 0.36 219
    2021-12-01 $117,500 (-18.4%) $152,919 (-17.2%) 0.32 221
    2022-01-01 $115,000 (-20.7%) $157,188 (-15.5%) 0.31 180
    2022-02-01 $129,200 (-7.0%) $195,534 (8.9%) 0.34 166
    2022-03-01 $139,000 (13.2%) $193,709 (13.1%) 0.35 166
    2022-04-01 $173,000 (44.2%) $210,329 (28.6%) 0.41 174
    2022-05-01 $173,725 (57.9%) $215,800 (29.5%) 0.40 177
    2022-06-01 $180,600 (41.7%) $222,729 (33.1%) 0.40 195
    2022-07-01 $189,900 (42.3%) $232,258 (37.9%) 0.43 230
    2022-08-01 $208,750 (65.0%) $235,817 (44.5%) 0.48 235
    2022-09-01 $199,925 (42.9%) $250,151 (47.5%) 0.47 247
    2022-10-01 $209,900 (50.0%) $238,467 (43.1%) 0.49 249
    2022-11-01 $223,500 (66.2%) $242,190 (43.9%) 0.54 260
    2022-12-01 $199,900 (70.1%) $230,487 (50.7%) 0.49 253
    2023-01-01 $189,900 (65.1%) $225,423 (43.4%) 0.47 235
    2023-02-01 $172,350 (33.4%) $233,076 (19.2%) 0.42 240
    2023-03-01 $199,675 (43.7%) $251,808 (30.0%) 0.47 200
    2023-04-01 $219,900 (27.1%) $257,606 (22.5%) 0.51 186
    2023-05-01 $217,625 (25.3%) $285,819 (32.5%) 0.49 179
    2023-06-01 $227,450 (25.9%) $308,485 (38.5%) 0.51 193
    2023-07-01 $225,000 (18.5%) $293,619 (26.4%) 0.51 216
    2023-08-01 $212,675 (1.9%) $290,822 (23.3%) 0.49 250
    2023-09-01 $213,000 (6.5%) $288,794 (15.5%) 0.50 272
    2023-10-01 $200,000 (-4.7%) $284,187 (19.2%) 0.47 262
    2023-11-01 $200,000 (-10.5%) $250,693 (3.5%) 0.48 279
    2023-12-01 $200,000 (0.1%) $245,141 (6.4%) 0.49 264
    2024-01-01 $200,000 (5.3%) $281,476 (24.9%) 0.49 239
    2024-02-01 $205,000 (18.9%) $267,991 (15.0%) 0.49 264
    2024-03-01 $177,500 (-11.1%) $243,262 (-3.4%) 0.42 334
    Albany's median listing price for 2024-03-01 was $177,500, a difference of $-22,175 (-11.1%) versus the prior year and $-27,500 versus the prior month.

    Albany's median listing price comes in at 42% of the national average.

    Albany's average listing price for 2024-03-01 was $243,262, a difference of $-8,546 (-3.4%) versus the prior year and $-24,729 versus the prior month.

    For the 2024-03-01 period, Albany had 334 MLS listings, a difference of 70 listings (27%) versus the prior month and 134 listings (67%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Albany (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 88 days 1,814 sqft
    2018-02-01 86 days 1,841 sqft
    2018-03-01 73 days 1,840 sqft
    2018-04-01 70 days 1,859 sqft
    2018-05-01 73 days 1,848 sqft
    2018-06-01 75 days 1,840 sqft
    2018-07-01 73 days 1,785 sqft
    2018-08-01 75 days 1,803 sqft
    2018-09-01 79 days 1,825 sqft
    2018-10-01 96 days 1,810 sqft
    2018-11-01 97 days 1,800 sqft
    2018-12-01 107 days 1,765 sqft
    2019-01-01 118 days 1,786 sqft
    2019-02-01 108 days 1,755 sqft
    2019-03-01 88 days 1,740 sqft
    2019-04-01 68 days 1,731 sqft
    2019-05-01 68 days 1,723 sqft
    2019-06-01 61 days 1,708 sqft
    2019-07-01 59 days 1,705 sqft
    2019-08-01 68 days 1,711 sqft
    2019-09-01 79 days 1,735 sqft
    2019-10-01 90 days 1,753 sqft
    2019-11-01 95 days 1,785 sqft
    2019-12-01 89 days 1,806 sqft
    2020-01-01 95 days 1,806 sqft
    2020-02-01 87 days 1,823 sqft
    2020-03-01 61 days 1,800 sqft
    2020-04-01 65 days 1,804 sqft
    2020-05-01 78 days 1,823 sqft
    2020-06-01 91 days 1,848 sqft
    2020-07-01 81 days 1,837 sqft
    2020-08-01 58 days 1,825 sqft
    2020-09-01 59 days 1,914 sqft
    2020-10-01 50 days 1,894 sqft
    2020-11-01 54 days 1,910 sqft
    2020-12-01 61 days 1,901 sqft
    2021-01-01 72 days 1,916 sqft
    2021-02-01 63 days 1,875 sqft
    2021-03-01 42 days 1,734 sqft
    2021-04-01 37 days 1,657 sqft
    2021-05-01 52 days 1,640 sqft
    2021-06-01 44 days 1,700 sqft
    2021-07-01 38 days 1,667 sqft
    2021-08-01 40 days 1,614 sqft
    2021-09-01 41 days 1,670 sqft
    2021-10-01 48 days 1,645 sqft
    2021-11-01 42 days 1,658 sqft
    2021-12-01 50 days 1,541 sqft
    2022-01-01 53 days 1,580 sqft
    2022-02-01 48 days 1,607 sqft
    2022-03-01 54 days 1,639 sqft
    2022-04-01 33 days 1,652 sqft
    2022-05-01 38 days 1,687 sqft
    2022-06-01 30 days 1,755 sqft
    2022-07-01 32 days 1,790 sqft
    2022-08-01 45 days 1,875 sqft
    2022-09-01 52 days 1,780 sqft
    2022-10-01 50 days 1,812 sqft
    2022-11-01 64 days 1,847 sqft
    2022-12-01 73 days 1,828 sqft
    2023-01-01 73 days 1,831 sqft
    2023-02-01 59 days 1,736 sqft
    2023-03-01 49 days 1,846 sqft
    2023-04-01 51 days 1,884 sqft
    2023-05-01 48 days 1,878 sqft
    2023-06-01 43 days 1,898 sqft
    2023-07-01 44 days 1,950 sqft
    2023-08-01 38 days 1,901 sqft
    2023-09-01 44 days 1,814 sqft
    2023-10-01 56 days 1,806 sqft
    2023-11-01 65 days 1,771 sqft
    2023-12-01 79 days 1,747 sqft
    2024-01-01 81 days 1,713 sqft
    2024-02-01 57 days 1,759 sqft
    2024-03-01 31 days 1,625 sqft
    Albany's median listing age (time on market) for 2024-03-01 was 31 days. This is -37% shorter than the same period one year ago.

    Albany's median square footage for active listings during the 2024-03-01 period was 1,625 sqft. One year prior, the average listing was 1,846 sqft.