Albany USDA Loan Rates, Closing Costs & Stats

ALBANY, GA

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 5.84% for the week of 2024-10-04, compared to the national average (all USDA variants) of 5.97% for the same period.

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

The average rate for the prior week (2024-09-27) was 5.87% and one month ago for the week of 2024-08-30, the average rate was 6.41%.

The average rate one year ago was 7.06%.

For refis of the same type during the week of 2024-10-04, the average rate was 5.77%.

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
2024-04-01 $183,750 (-16.4%) $247,463 (-3.9%) 0.43 327
2024-05-01 $164,900 (-24.2%) $245,898 (-14.0%) 0.37 354
2024-06-01 $189,900 (-16.5%) $239,240 (-22.5%) 0.43 464
2024-07-01 $191,563 (-14.9%) $238,428 (-18.8%) 0.44 405
2024-08-01 $199,500 (-6.2%) $235,673 (-19.0%) 0.46 389
2024-09-01 $199,950 (-6.1%) $239,043 (-17.2%) 0.00 394
Albany's median listing price for 2024-09-01 was $199,950, a difference of $-13,050 (-6.1%) versus the prior year and $450 versus the prior month.

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

Albany's average listing price for 2024-09-01 was $239,043, a difference of $-49,751 (-17.2%) versus the prior year and $3,370 versus the prior month.

For the 2024-09-01 period, Albany had 394 MLS listings, a difference of 5 listings (1%) versus the prior month and 122 listings (45%) 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
2024-04-01 61 days 1,657 sqft
2024-05-01 81 days 1,635 sqft
2024-06-01 61 days 1,665 sqft
2024-07-01 80 days 1,629 sqft
2024-08-01 78 days 1,600 sqft
2024-09-01 0 days 1,629 sqft
Albany's median listing age (time on market) for 2024-09-01 was 0 days. This is -100% shorter than the same period one year ago.

Albany's median square footage for active listings during the 2024-09-01 period was 1,629 sqft. One year prior, the average listing was 1,814 sqft.