Albuquerque USDA Loan Rates, Closing Costs & Stats

ALBUQUERQUE, NM

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.

Albuquerque's 23 lenders originated 77 USDA loans during 2021. The total origination value was $15,505,000, with an average USDA loan value of $201,364.

Albuquerque USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Albuquerque averaged 6.26% for the week of 2023-01-27, compared to the national average (all USDA variants) of 6.195% for the same period.

Albuquerque's average USDA mortgage closing costs are $5,296.

The average rate for the prior week (2023-01-20) was 6.05% and one month ago for the week of 2022-12-23, the average rate was 6.28%.

The average rate one year ago was 3.63%.

For refis of the same type during the week of 2023-01-27, the average rate was 6.1%.

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

Albuquerque 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 Albuquerque level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
GUILD MORTGAGE COMPANY 15 3.04% $5,555
PRIMARY RESIDENTIAL MORTGAGE, INC. 8 2.94% $5,432
Waterstone Mortgage Corporation 6 2.90% $5,070
LOANDEPOT.COM, LLC 5 3.45% $6,023
AMERICAN PACIFIC MORTGAGE CORPORATION 4 2.97% $9,445
CALCON MUTUAL MORTGAGE LLC 4 3.19% $7,426
Century Mortgage Company DBA Century Lending Company 4 3.03% $5,761
CROSSCOUNTRY MORTGAGE, LLC 4 3.44% $6,201
HOME POINT FINANCIAL CORPORATION 3 2.79% $5,238
BROKER SOLUTIONS, INC. 3 2.67% $7,568
Amerifirst Financial, Inc. 2 3.19% $4,445
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 2 3.06% $6,637
Flagstar Bank, FSB 1 2.99% $3,658
CMG MORTGAGE, INC. 1 2.38% $5,246
COUNTRYPLACE MORTGAGE, LTD. 1 3.25% $14,293
DHI MORTGAGE COMPANY, LTD. 1 2.50% $4,474
ACADEMY MORTGAGE CORPORATION 1 3.50% $8,572
Gateway First Bank 1 2.75% $5,378
HOMETRUST MORTGAGE COMPANY 1 3.00% $7,457
NEWREZ LLC 1 2.75% $4,705
OCEANSIDE MORTGAGE COMPANY 1 3.00% $1,535
PLAZA HOME MORTGAGE, INC. 1 2.25% $4,517
UNITED WHOLESALE MORTGAGE, LLC 1 2.88% $7,355

The top Albuquerque USDA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 15 USDA loans originated. Their average total fees are $5,555, which is $123 higher than the next largest lender, PRIMARY RESIDENTIAL MORTGAGE, INC..

The lowest fee Albuquerque USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($5,555), .

The lowest rate Albuquerque USDA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (3.04%), .


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Albuquerque (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 $239,000 (3.9%) $309,398 (2.7%) 0.89 2,764
2018-02-01 $242,900 (2.9%) $316,882 (4.0%) 0.88 2,688
2018-03-01 $245,000 (2.1%) $322,196 (5.2%) 0.86 2,614
2018-04-01 $250,000 (2.2%) $325,360 (4.3%) 0.85 2,726
2018-05-01 $258,838 (4.0%) $327,541 (3.4%) 0.86 2,915
2018-06-01 $259,900 (4.0%) $326,481 (2.0%) 0.87 3,143
2018-07-01 $252,450 (1.4%) $320,215 (-0.4%) 0.84 3,328
2018-08-01 $249,945 (2.0%) $315,379 (-1.9%) 0.84 3,385
2018-09-01 $246,890 (1.8%) $313,823 (-1.5%) 0.83 3,329
2018-10-01 $248,079 (3.4%) $318,151 (0.3%) 0.84 3,307
2018-11-01 $249,500 (4.0%) $316,478 (1.5%) 0.85 3,106
2018-12-01 $249,000 (5.3%) $314,652 (1.2%) 0.86 2,839
2019-01-01 $247,850 (3.7%) $314,277 (1.6%) 0.86 2,466
2019-02-01 $250,486 (3.1%) $323,390 (2.1%) 0.85 2,368
2019-03-01 $261,766 (6.8%) $336,455 (4.4%) 0.86 2,287
2019-04-01 $269,794 (7.9%) $344,486 (5.9%) 0.86 2,314
2019-05-01 $269,948 (4.3%) $346,507 (5.8%) 0.84 2,440
2019-06-01 $273,500 (5.2%) $349,699 (7.1%) 0.85 2,633
2019-07-01 $272,023 (7.8%) $349,402 (9.1%) 0.85 2,658
2019-08-01 $272,669 (9.1%) $349,675 (10.9%) 0.86 2,647
2019-09-01 $270,605 (9.6%) $349,018 (11.2%) 0.87 2,634
2019-10-01 $269,229 (8.5%) $348,197 (9.4%) 0.87 2,619
2019-11-01 $269,000 (7.8%) $345,078 (9.0%) 0.88 2,402
2019-12-01 $267,450 (7.4%) $346,044 (10.0%) 0.89 2,087
2020-01-01 $270,750 (9.2%) $352,742 (12.2%) 0.90 1,793
2020-02-01 $280,030 (11.8%) $361,726 (11.9%) 0.92 1,723
2020-03-01 $289,025 (10.4%) $368,702 (9.6%) 0.91 1,686
2020-04-01 $287,572 (6.6%) $361,909 (5.1%) 0.90 1,785
2020-05-01 $300,000 (11.1%) $373,028 (7.7%) 0.91 1,708
2020-06-01 $315,975 (15.5%) $393,613 (12.6%) 0.93 1,480
2020-07-01 $313,500 (15.3%) $390,611 (11.8%) 0.91 1,368
2020-08-01 $319,900 (17.3%) $397,251 (13.6%) 0.92 1,343
2020-09-01 $316,955 (17.1%) $394,597 (13.1%) 0.91 1,318
2020-10-01 $307,880 (14.4%) $392,749 (12.8%) 0.88 1,306
2020-11-01 $305,000 (13.4%) $384,135 (11.3%) 0.89 1,283
2020-12-01 $308,679 (15.4%) $390,920 (13.0%) 0.92 1,067
2021-01-01 $310,000 (14.5%) $396,016 (12.3%) 0.93 865
2021-02-01 $315,000 (12.5%) $395,909 (9.5%) 0.92 758
2021-03-01 $317,500 (9.9%) $401,857 (9.0%) 0.90 717
2021-04-01 $324,747 (12.9%) $420,393 (16.2%) 0.88 702
2021-05-01 $329,000 (9.7%) $431,155 (15.6%) 0.87 736
2021-06-01 $343,816 (8.8%) $434,610 (10.4%) 0.91 876
2021-07-01 $339,500 (8.3%) $432,721 (10.8%) 0.89 973
2021-08-01 $339,950 (6.3%) $438,555 (10.4%) 0.91 1,015
2021-09-01 $345,000 (8.9%) $448,238 (13.6%) 0.92 1,041
2021-10-01 $359,900 (16.9%) $460,826 (17.3%) 0.96 967
2021-11-01 $359,498 (17.9%) $464,344 (20.9%) 0.96 848
2021-12-01 $350,000 (13.4%) $458,972 (17.4%) 0.95 702
2022-01-01 $368,920 (19.0%) $465,630 (17.6%) 1.00 608
2022-02-01 $369,928 (17.4%) $476,805 (20.4%) 0.96 580
2022-03-01 $367,323 (15.7%) $474,050 (18.0%) 0.92 566
2022-04-01 $375,000 (15.5%) $484,310 (15.2%) 0.90 615
2022-05-01 $392,375 (19.3%) $482,286 (11.9%) 0.90 799
2022-06-01 $392,400 (14.1%) $477,958 (10.0%) 0.87 1,012
2022-07-01 $390,000 (14.9%) $484,642 (12.0%) 0.88 1,263
2022-08-01 $392,500 (15.5%) $487,331 (11.1%) 0.91 1,311
2022-09-01 $385,000 (11.6%) $480,389 (7.2%) 0.90 1,411
2022-10-01 $385,000 (7.0%) $485,209 (5.3%) 0.91 1,437
2022-11-01 $377,695 (5.1%) $479,981 (3.4%) 0.91 1,469
2022-12-01 $365,000 (4.3%) $474,200 (3.3%) 0.91 1,310
Albuquerque's median listing price for 2022-12-01 was $365,000, a difference of $15,000 (4.3%) versus the prior year and $-12,695 versus the prior month.

Albuquerque's median listing price comes in at 91% of the national average.

Albuquerque's average listing price for 2022-12-01 was $474,200, a difference of $15,228 (3.3%) versus the prior year and $-5,781 versus the prior month.

For the 2022-12-01 period, Albuquerque had 1,310 MLS listings, a difference of -159 listings (-11%) versus the prior month and 608 listings (87%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Albuquerque (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 75 days 1,994 sqft
2018-02-01 65 days 2,023 sqft
2018-03-01 51 days 2,053 sqft
2018-04-01 47 days 2,075 sqft
2018-05-01 46 days 2,078 sqft
2018-06-01 48 days 2,078 sqft
2018-07-01 51 days 2,057 sqft
2018-08-01 54 days 2,037 sqft
2018-09-01 59 days 2,018 sqft
2018-10-01 60 days 2,020 sqft
2018-11-01 63 days 2,019 sqft
2018-12-01 70 days 2,020 sqft
2019-01-01 72 days 2,009 sqft
2019-02-01 64 days 2,022 sqft
2019-03-01 55 days 2,080 sqft
2019-04-01 47 days 2,121 sqft
2019-05-01 50 days 2,116 sqft
2019-06-01 52 days 2,110 sqft
2019-07-01 47 days 2,095 sqft
2019-08-01 49 days 2,087 sqft
2019-09-01 52 days 2,068 sqft
2019-10-01 56 days 2,068 sqft
2019-11-01 67 days 2,038 sqft
2019-12-01 78 days 2,034 sqft
2020-01-01 77 days 2,053 sqft
2020-02-01 63 days 2,092 sqft
2020-03-01 51 days 2,077 sqft
2020-04-01 53 days 2,050 sqft
2020-05-01 57 days 2,100 sqft
2020-06-01 65 days 2,146 sqft
2020-07-01 63 days 2,125 sqft
2020-08-01 54 days 2,153 sqft
2020-09-01 57 days 2,136 sqft
2020-10-01 52 days 2,099 sqft
2020-11-01 57 days 2,064 sqft
2020-12-01 62 days 2,094 sqft
2021-01-01 74 days 2,075 sqft
2021-02-01 71 days 2,015 sqft
2021-03-01 59 days 2,041 sqft
2021-04-01 53 days 2,051 sqft
2021-05-01 43 days 2,052 sqft
2021-06-01 34 days 2,047 sqft
2021-07-01 37 days 2,000 sqft
2021-08-01 42 days 2,015 sqft
2021-09-01 49 days 2,018 sqft
2021-10-01 55 days 2,095 sqft
2021-11-01 65 days 2,033 sqft
2021-12-01 60 days 1,977 sqft
2022-01-01 72 days 2,003 sqft
2022-02-01 39 days 1,973 sqft
2022-03-01 37 days 2,000 sqft
2022-04-01 33 days 2,000 sqft
2022-05-01 30 days 2,048 sqft
2022-06-01 30 days 2,040 sqft
2022-07-01 34 days 2,070 sqft
2022-08-01 45 days 2,083 sqft
2022-09-01 53 days 2,049 sqft
2022-10-01 58 days 2,026 sqft
2022-11-01 62 days 2,015 sqft
2022-12-01 73 days 1,999 sqft
Albuquerque's median listing age (time on market) for 2022-12-01 was 73 days. This is 22% longer than the same period one year ago.

Albuquerque's median square footage for active listings during the 2022-12-01 period was 1,999 sqft. One year prior, the average listing was 1,977 sqft.