Albuquerque USDA Loans

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 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.