Albany USDA Loan Rates, Closing Costs & Stats

ALBANY-SCHENECTADY-TROY, NY

  • 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 10 lenders originated 21 USDA loans during 2023. The total origination value was $3,765,000, with an average USDA loan value of $179,286.

    Albany USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Albany averaged 5.85% for the week of 2025-02-14, compared to the national average (all USDA variants) of 6.526% for the same period.

    Albany's average USDA mortgage closing costs are $4,769.

    The average rate for the prior week (2025-02-07) was 5.81% and one month ago for the week of 2025-01-10, the average rate was 6.26%.

    The average rate one year ago was 6.15%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.32%.

    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
    HOMESTEAD FUNDING CORP. 7 6.71% $3,063
    Premium Mortgage Corporation 3 6.42% $8,405
    UNITED WHOLESALE MORTGAGE, LLC 2 7.13% $5,878
    PLAZA HOME MORTGAGE, INC. 2 6.13% $7,952
    1ST PRIORITY MORTGAGE, INC. 2 6.31% $6,424
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $10,643
    NEWREZ LLC 1 7.25% $5,547
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.25% $7,133
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.63% $8,894
    Flagstar Bank, FSB 1 5.38% $9,917

    The top Albany USDA lender as defined by loan originations is HOMESTEAD FUNDING CORP., with 7 USDA loans originated. Their average total fees are $3,063, which is $5,342 lower than the next largest lender, Premium Mortgage Corporation.

    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 $277,450 (14.5%) $331,489 (8.3%) 1.03 3,263
    2018-02-01 $284,900 (14.0%) $334,659 (7.8%) 1.03 3,167
    2018-03-01 $289,900 (11.7%) $336,724 (6.6%) 1.02 3,127
    2018-04-01 $297,900 (12.4%) $339,764 (6.1%) 1.01 3,182
    2018-05-01 $296,725 (10.0%) $336,798 (4.6%) 0.99 3,485
    2018-06-01 $294,900 (9.3%) $339,301 (5.1%) 0.98 3,870
    2018-07-01 $292,206 (8.3%) $339,749 (5.6%) 0.98 4,063
    2018-08-01 $288,705 (7.7%) $336,295 (5.5%) 0.97 4,114
    2018-09-01 $289,750 (7.7%) $336,688 (5.0%) 0.97 4,210
    2018-10-01 $289,900 (8.4%) $337,299 (5.3%) 0.98 4,244
    2018-11-01 $292,450 (10.2%) $340,327 (6.4%) 0.99 4,173
    2018-12-01 $292,900 (8.5%) $338,418 (3.8%) 1.01 3,824
    2019-01-01 $299,650 (8.0%) $343,820 (3.7%) 1.04 3,461
    2019-02-01 $306,400 (7.6%) $352,169 (5.2%) 1.04 3,360
    2019-03-01 $309,406 (6.7%) $354,857 (5.4%) 1.01 3,354
    2019-04-01 $309,856 (4.0%) $356,110 (4.8%) 0.98 3,409
    2019-05-01 $299,900 (1.1%) $351,092 (4.2%) 0.94 3,533
    2019-06-01 $299,400 (1.5%) $350,236 (3.2%) 0.94 3,692
    2019-07-01 $299,450 (2.5%) $346,566 (2.0%) 0.94 3,720
    2019-08-01 $293,609 (1.7%) $341,328 (1.5%) 0.93 3,837
    2019-09-01 $291,523 (0.6%) $340,530 (1.1%) 0.93 3,896
    2019-10-01 $289,900 (0.0%) $340,582 (1.0%) 0.94 3,912
    2019-11-01 $289,900 (-0.9%) $338,246 (-0.6%) 0.95 3,508
    2019-12-01 $294,300 (0.5%) $340,145 (0.5%) 0.98 3,155
    2020-01-01 $295,825 (-1.3%) $339,821 (-1.2%) 0.99 2,852
    2020-02-01 $304,900 (-0.5%) $344,144 (-2.3%) 1.00 2,702
    2020-03-01 $312,500 (1.0%) $347,723 (-2.0%) 0.98 2,667
    2020-04-01 $317,000 (2.3%) $353,767 (-0.7%) 0.99 2,493
    2020-05-01 $321,400 (7.2%) $359,272 (2.3%) 0.98 2,451
    2020-06-01 $338,975 (13.2%) $372,764 (6.4%) 1.00 2,424
    2020-07-01 $342,550 (14.4%) $378,422 (9.2%) 0.99 2,313
    2020-08-01 $339,900 (15.8%) $391,399 (14.7%) 0.97 2,240
    2020-09-01 $335,000 (14.9%) $393,352 (15.5%) 0.96 2,246
    2020-10-01 $335,000 (15.6%) $395,785 (16.2%) 0.96 2,227
    2020-11-01 $336,650 (16.1%) $397,743 (17.6%) 0.99 2,143
    2020-12-01 $338,950 (15.2%) $399,632 (17.5%) 1.01 1,939
    2021-01-01 $344,900 (16.6%) $412,175 (21.3%) 1.03 1,673
    2021-02-01 $366,900 (20.3%) $434,572 (26.3%) 1.07 1,409
    2021-03-01 $368,200 (17.8%) $458,072 (31.7%) 1.05 1,330
    2021-04-01 $368,700 (16.3%) $459,619 (29.9%) 1.00 1,317
    2021-05-01 $364,925 (13.5%) $456,778 (27.1%) 0.97 1,346
    2021-06-01 $349,900 (3.2%) $450,263 (20.8%) 0.92 1,498
    2021-07-01 $349,900 (2.2%) $447,740 (18.3%) 0.92 1,637
    2021-08-01 $344,375 (1.3%) $443,009 (13.2%) 0.92 1,732
    2021-09-01 $334,175 (-0.3%) $439,484 (11.7%) 0.89 1,697
    2021-10-01 $325,000 (-3.0%) $433,934 (9.6%) 0.87 1,622
    2021-11-01 $324,925 (-3.5%) $430,987 (8.4%) 0.87 1,509
    2021-12-01 $344,200 (1.6%) $443,656 (11.0%) 0.93 1,359
    2022-01-01 $349,900 (1.5%) $453,937 (10.1%) 0.95 1,132
    2022-02-01 $367,750 (0.2%) $483,627 (11.3%) 0.96 930
    2022-03-01 $369,900 (0.5%) $490,904 (7.2%) 0.93 890
    2022-04-01 $369,900 (0.3%) $483,436 (5.2%) 0.88 926
    2022-05-01 $369,900 (1.4%) $466,422 (2.1%) 0.85 1,104
    2022-06-01 $369,900 (5.7%) $468,867 (4.1%) 0.82 1,283
    2022-07-01 $350,000 (0.0%) $431,852 (-3.6%) 0.79 1,470
    2022-08-01 $351,950 (2.2%) $431,024 (-2.7%) 0.81 1,478
    2022-09-01 $344,000 (2.9%) $440,622 (0.3%) 0.80 1,431
    2022-10-01 $348,250 (7.2%) $435,434 (0.4%) 0.82 1,443
    2022-11-01 $339,950 (4.6%) $418,875 (-2.8%) 0.82 1,395
    2022-12-01 $344,950 (0.2%) $429,518 (-3.2%) 0.85 1,269
    2023-01-01 $364,171 (4.1%) $435,600 (-4.0%) 0.90 1,119
    2023-02-01 $384,900 (4.7%) $457,247 (-5.5%) 0.93 1,032
    2023-03-01 $399,900 (8.1%) $463,576 (-5.6%) 0.94 926
    2023-04-01 $408,000 (10.3%) $473,794 (-2.0%) 0.95 886
    2023-05-01 $407,500 (10.2%) $494,081 (5.9%) 0.92 965
    2023-06-01 $416,950 (12.7%) $505,857 (7.9%) 0.94 1,063
    2023-07-01 $419,000 (19.7%) $514,590 (19.2%) 0.95 1,142
    2023-08-01 $419,900 (19.3%) $513,246 (19.1%) 0.96 1,221
    2023-09-01 $415,900 (20.9%) $509,342 (15.6%) 0.97 1,263
    2023-10-01 $399,072 (14.6%) $506,194 (16.3%) 0.94 1,311
    2023-11-01 $392,450 (15.4%) $494,104 (18.0%) 0.93 1,338
    2023-12-01 $398,300 (15.5%) $495,131 (15.3%) 0.97 1,210
    2024-01-01 $423,188 (16.2%) $515,780 (18.4%) 1.03 1,059
    2024-02-01 $433,960 (12.8%) $523,695 (14.5%) 1.04 986
    2024-03-01 $435,650 (8.9%) $560,118 (20.8%) 1.03 898
    2024-04-01 $449,897 (10.3%) $575,308 (21.4%) 1.05 881
    2024-05-01 $443,050 (8.7%) $568,536 (15.1%) 1.02 1,016
    2024-06-01 $429,900 (3.1%) $561,286 (11.0%) 1.01 1,184
    2024-07-01 $428,374 (2.2%) $568,497 (10.5%) 0.98 1,273
    2024-08-01 $420,000 (0.0%) $564,119 (9.9%) 0.98 1,278
    2024-09-01 $415,000 (-0.2%) $550,596 (8.1%) 0.98 1,365
    2024-10-01 $419,575 (5.1%) $549,188 (8.5%) 0.99 1,345
    2024-11-01 $414,900 (5.7%) $540,236 (9.3%) 1.00 1,301
    2024-12-01 $415,000 (4.2%) $538,710 (8.8%) 1.03 1,144
    2025-01-01 $407,475 (-3.7%) $541,131 (4.9%) 0.00 989
    Albany's median listing price for 2025-01-01 was $407,475, a difference of $-15,713 (-3.7%) versus the prior year and $-7,525 versus the prior month.

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

    Albany's average listing price for 2025-01-01 was $541,131, a difference of $25,351 (4.9%) versus the prior year and $2,421 versus the prior month.

    For the 2025-01-01 period, Albany had 989 MLS listings, a difference of -155 listings (-14%) versus the prior month and -70 listings (-7%) 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
    2018-01-01 101 days 1,832 sqft
    2018-02-01 101 days 1,850 sqft
    2018-03-01 89 days 1,853 sqft
    2018-04-01 73 days 1,871 sqft
    2018-05-01 62 days 1,875 sqft
    2018-06-01 57 days 1,873 sqft
    2018-07-01 62 days 1,886 sqft
    2018-08-01 68 days 1,875 sqft
    2018-09-01 75 days 1,876 sqft
    2018-10-01 75 days 1,876 sqft
    2018-11-01 77 days 1,890 sqft
    2018-12-01 85 days 1,874 sqft
    2019-01-01 93 days 1,883 sqft
    2019-02-01 95 days 1,901 sqft
    2019-03-01 85 days 1,907 sqft
    2019-04-01 71 days 1,901 sqft
    2019-05-01 59 days 1,908 sqft
    2019-06-01 62 days 1,907 sqft
    2019-07-01 68 days 1,905 sqft
    2019-08-01 69 days 1,893 sqft
    2019-09-01 71 days 1,883 sqft
    2019-10-01 73 days 1,874 sqft
    2019-11-01 80 days 1,868 sqft
    2019-12-01 97 days 1,851 sqft
    2020-01-01 106 days 1,852 sqft
    2020-02-01 92 days 1,878 sqft
    2020-03-01 72 days 1,896 sqft
    2020-04-01 78 days 1,887 sqft
    2020-05-01 86 days 1,903 sqft
    2020-06-01 84 days 1,931 sqft
    2020-07-01 64 days 1,987 sqft
    2020-08-01 58 days 1,942 sqft
    2020-09-01 53 days 1,915 sqft
    2020-10-01 55 days 1,900 sqft
    2020-11-01 66 days 1,888 sqft
    2020-12-01 76 days 1,878 sqft
    2021-01-01 88 days 1,860 sqft
    2021-02-01 92 days 1,886 sqft
    2021-03-01 71 days 1,886 sqft
    2021-04-01 60 days 1,887 sqft
    2021-05-01 50 days 1,876 sqft
    2021-06-01 44 days 1,878 sqft
    2021-07-01 49 days 1,872 sqft
    2021-08-01 52 days 1,865 sqft
    2021-09-01 55 days 1,836 sqft
    2021-10-01 59 days 1,800 sqft
    2021-11-01 60 days 1,780 sqft
    2021-12-01 66 days 1,826 sqft
    2022-01-01 78 days 2,035 sqft
    2022-02-01 82 days 1,926 sqft
    2022-03-01 56 days 1,862 sqft
    2022-04-01 49 days 1,824 sqft
    2022-05-01 36 days 1,817 sqft
    2022-06-01 38 days 1,824 sqft
    2022-07-01 40 days 1,803 sqft
    2022-08-01 52 days 1,819 sqft
    2022-09-01 58 days 1,811 sqft
    2022-10-01 58 days 1,800 sqft
    2022-11-01 60 days 1,775 sqft
    2022-12-01 68 days 1,762 sqft
    2023-01-01 78 days 1,762 sqft
    2023-02-01 73 days 1,791 sqft
    2023-03-01 68 days 1,816 sqft
    2023-04-01 62 days 1,816 sqft
    2023-05-01 45 days 1,847 sqft
    2023-06-01 44 days 1,835 sqft
    2023-07-01 49 days 1,831 sqft
    2023-08-01 50 days 1,832 sqft
    2023-09-01 52 days 1,819 sqft
    2023-10-01 54 days 1,800 sqft
    2023-11-01 58 days 1,804 sqft
    2023-12-01 64 days 1,800 sqft
    2024-01-01 73 days 1,800 sqft
    2024-02-01 73 days 1,838 sqft
    2024-03-01 62 days 1,821 sqft
    2024-04-01 55 days 1,841 sqft
    2024-05-01 32 days 1,844 sqft
    2024-06-01 36 days 1,850 sqft
    2024-07-01 49 days 1,846 sqft
    2024-08-01 52 days 1,820 sqft
    2024-09-01 51 days 1,840 sqft
    2024-10-01 55 days 1,845 sqft
    2024-11-01 58 days 1,804 sqft
    2024-12-01 66 days 1,787 sqft
    2025-01-01 0 days 1,774 sqft
    Albany's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Albany's median square footage for active listings during the 2025-01-01 period was 1,774 sqft. One year prior, the average listing was 1,800 sqft.