Albuquerque USDA Loans

ALBUQUERQUE, NM

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    • 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 5.18% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

    The average rate for the prior week (2022-05-13) was 5.16% and one month ago for the week of 2022-04-15, the average rate was 5.06%.

    The average rate one year ago was 3.1%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.22%.

    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 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. Total Fees
    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 $239,900 (4.3%) $315,971 (4.0%) 0.88 2,804
    2018-02-01 $245,000 (3.5%) $324,415 (5.5%) 0.88 2,710
    2018-03-01 $248,900 (3.8%) $328,950 (6.5%) 0.86 2,643
    2018-04-01 $251,495 (2.7%) $332,120 (5.3%) 0.84 2,775
    2018-05-01 $259,900 (4.0%) $336,592 (4.9%) 0.87 2,959
    2018-06-01 $260,000 (4.0%) $336,701 (3.6%) 0.87 3,183
    2018-07-01 $253,500 (1.4%) $329,074 (0.7%) 0.85 3,367
    2018-08-01 $250,000 (1.9%) $323,883 (-0.7%) 0.84 3,423
    2018-09-01 $249,000 (1.7%) $322,982 (-0.3%) 0.83 3,369
    2018-10-01 $249,700 (4.0%) $326,974 (1.4%) 0.84 3,343
    2018-11-01 $250,000 (4.2%) $324,106 (2.0%) 0.84 3,138
    2018-12-01 $249,900 (4.6%) $322,408 (1.4%) 0.86 2,870
    2019-01-01 $249,700 (4.1%) $323,541 (2.4%) 0.86 2,498
    2019-02-01 $254,886 (4.0%) $331,975 (2.3%) 0.85 2,409
    2019-03-01 $265,857 (6.8%) $347,064 (5.5%) 0.87 2,292
    2019-04-01 $275,000 (9.4%) $359,211 (8.2%) 0.87 2,298
    2019-05-01 $279,000 (7.4%) $363,577 (8.0%) 0.86 2,455
    2019-06-01 $279,310 (7.4%) $363,985 (8.1%) 0.86 2,657
    2019-07-01 $274,950 (8.5%) $356,772 (8.4%) 0.85 2,667
    2019-08-01 $271,957 (8.8%) $354,207 (9.4%) 0.86 2,611
    2019-09-01 $269,325 (8.2%) $350,770 (8.6%) 0.86 2,529
    2019-10-01 $275,000 (10.1%) $361,428 (10.5%) 0.88 2,625
    2019-11-01 $275,000 (10.0%) $361,842 (11.6%) 0.89 2,443
    2019-12-01 $275,000 (10.0%) $362,517 (12.4%) 0.92 2,102
    2020-01-01 $281,400 (12.7%) $371,252 (14.8%) 0.94 1,791
    2020-02-01 $294,500 (15.5%) $383,744 (15.6%) 0.95 1,720
    2020-03-01 $299,500 (12.7%) $393,229 (13.3%) 0.94 1,671
    2020-04-01 $299,950 (9.1%) $382,475 (6.5%) 0.93 1,783
    2020-05-01 $317,005 (13.6%) $391,946 (7.8%) 0.96 1,676
    2020-06-01 $343,860 (23.1%) $426,170 (17.1%) 1.00 1,470
    2020-07-01 $345,785 (25.8%) $431,356 (20.9%) 0.99 1,343
    2020-08-01 $349,000 (28.3%) $437,298 (23.5%) 1.00 1,317
    2020-09-01 $348,250 (29.3%) $432,376 (23.3%) 1.00 1,314
    2020-10-01 $334,990 (21.8%) $427,544 (18.3%) 0.96 1,292
    2020-11-01 $325,000 (18.2%) $418,239 (15.6%) 0.93 1,270
    2020-12-01 $320,000 (16.4%) $416,080 (14.8%) 0.94 1,061
    2021-01-01 $318,000 (13.0%) $416,383 (12.2%) 0.94 849
    2021-02-01 $322,495 (9.5%) $415,465 (8.3%) 0.93 739
    2021-03-01 $324,930 (8.5%) $426,240 (8.4%) 0.91 702
    2021-04-01 $327,000 (9.0%) $440,048 (15.1%) 0.88 678
    2021-05-01 $335,000 (5.7%) $449,031 (14.6%) 0.88 719
    2021-06-01 $349,000 (1.5%) $447,396 (5.0%) 0.91 852
    2021-07-01 $342,450 (-1.0%) $441,468 (2.3%) 0.89 948
    2021-08-01 $343,745 (-1.5%) $450,611 (3.0%) 0.90 987
    2021-09-01 $348,495 (0.1%) $460,185 (6.4%) 0.92 1,021
    2021-10-01 $365,000 (9.0%) $473,455 (10.7%) 0.96 956
    2021-11-01 $366,950 (12.9%) $481,209 (15.1%) 0.97 823
    2021-12-01 $359,495 (12.3%) $481,028 (15.6%) 0.96 688
    2022-01-01 $369,000 (16.0%) $488,551 (17.3%) 0.98 593
    2022-02-01 $371,745 (15.3%) $493,513 (18.8%) 0.95 550
    2022-03-01 $375,000 (15.4%) $491,230 (15.3%) 0.93 536
    2022-04-01 $384,500 (17.6%) $497,670 (13.1%) 0.90 578
    Albuquerque's median listing price for 2022-04-01 was $384,500, a difference of $57,500 (17.6%) versus the prior year and $9,500 versus the prior month.

    Albuquerque's median listing price comes in at 90% of the national average.

    Albuquerque's average listing price for 2022-04-01 was $497,670, a difference of $57,622 (13.1%) versus the prior year and $6,440 versus the prior month.

    For the 2022-04-01 period, Albuquerque had 578 MLS listings, a difference of 42 listings (8%) versus the prior month and -100 listings (-15%) 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 74 days 1,999 sqft
    2018-02-01 65 days 2,031 sqft
    2018-03-01 51 days 2,057 sqft
    2018-04-01 47 days 2,077 sqft
    2018-05-01 46 days 2,081 sqft
    2018-06-01 48 days 2,083 sqft
    2018-07-01 51 days 2,059 sqft
    2018-08-01 53 days 2,047 sqft
    2018-09-01 58 days 2,025 sqft
    2018-10-01 60 days 2,027 sqft
    2018-11-01 62 days 2,026 sqft
    2018-12-01 69 days 2,025 sqft
    2019-01-01 72 days 2,017 sqft
    2019-02-01 65 days 2,033 sqft
    2019-03-01 54 days 2,095 sqft
    2019-04-01 46 days 2,151 sqft
    2019-05-01 44 days 2,152 sqft
    2019-06-01 49 days 2,147 sqft
    2019-07-01 46 days 2,106 sqft
    2019-08-01 49 days 2,086 sqft
    2019-09-01 51 days 2,059 sqft
    2019-10-01 52 days 2,103 sqft
    2019-11-01 58 days 2,085 sqft
    2019-12-01 67 days 2,063 sqft
    2020-01-01 68 days 2,107 sqft
    2020-02-01 53 days 2,133 sqft
    2020-03-01 43 days 2,125 sqft
    2020-04-01 44 days 2,103 sqft
    2020-05-01 51 days 2,150 sqft
    2020-06-01 49 days 2,245 sqft
    2020-07-01 43 days 2,269 sqft
    2020-08-01 37 days 2,281 sqft
    2020-09-01 40 days 2,237 sqft
    2020-10-01 41 days 2,194 sqft
    2020-11-01 42 days 2,136 sqft
    2020-12-01 53 days 2,140 sqft
    2021-01-01 57 days 2,099 sqft
    2021-02-01 46 days 2,038 sqft
    2021-03-01 42 days 2,053 sqft
    2021-04-01 41 days 2,068 sqft
    2021-05-01 37 days 2,064 sqft
    2021-06-01 36 days 2,070 sqft
    2021-07-01 36 days 2,023 sqft
    2021-08-01 37 days 2,036 sqft
    2021-09-01 39 days 2,027 sqft
    2021-10-01 43 days 2,119 sqft
    2021-11-01 47 days 2,055 sqft
    2021-12-01 50 days 2,000 sqft
    2022-01-01 56 days 2,009 sqft
    2022-02-01 42 days 1,992 sqft
    2022-03-01 39 days 2,008 sqft
    2022-04-01 37 days 2,001 sqft
    Albuquerque's median listing age (time on market) for 2022-04-01 was 37 days. This is -10% shorter than the same period one year ago.

    Albuquerque's median square footage for active listings during the 2022-04-01 period was 2,001 sqft. One year prior, the average listing was 2,068 sqft.