Binghamton USDA Loan Rates, Closing Costs & Stats

BINGHAMTON, NY

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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.

    Binghamton's 8 lenders originated 12 USDA loans during 2023. The total origination value was $1,690,000, with an average USDA loan value of $140,833.

    Binghamton USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Binghamton averaged 6.72% for the week of 2024-04-12, compared to the national average (all USDA variants) of 6.705% for the same period.

    Binghamton's average USDA mortgage closing costs are $4,468.

    The average rate for the prior week (2024-04-05) was 6.64% and one month ago for the week of 2024-03-08, the average rate was 6.8%.

    The average rate one year ago was 6.31%.

    For refis of the same type during the week of 2024-04-12, the average rate was 7.46%.

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

    Binghamton 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 Binghamton level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    PARAGON HOME LOANS INC. 3 6.08% $6,427
    PLAZA HOME MORTGAGE, INC. 2 7.00% $5,394
    HOMESTEAD FUNDING CORP. 2 7.25% $3,583
    MOVEMENT MORTGAGE, LLC 1 7.25% $7,234
    ABSOLUTE HOME MORTGAGE CORPORATION 1 6.99% $6,582
    Wells Fargo Bank 1 6.63% $1,863
    CARDINAL FINANCIAL 1 5.63% $6,017
    Community Bank 1 6.75% $3,404

    The top Binghamton USDA lender as defined by loan originations is PARAGON HOME LOANS INC., with 3 USDA loans originated. Their average total fees are $6,427, which is $1,033 higher than the next largest lender, PLAZA HOME MORTGAGE, INC..

    The lowest fee Binghamton USDA lenders (with over 10 loans originated) are .

    The lowest rate Binghamton USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Binghamton (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 $119,925 (4.3%) $150,928 (5.9%) 0.44 886
    2018-02-01 $120,000 (3.5%) $152,506 (5.8%) 0.44 851
    2018-03-01 $120,000 (3.1%) $157,511 (6.3%) 0.42 819
    2018-04-01 $124,900 (2.0%) $157,203 (3.8%) 0.42 804
    2018-05-01 $129,725 (3.2%) $166,797 (6.2%) 0.43 841
    2018-06-01 $134,900 (7.1%) $170,234 (8.0%) 0.45 935
    2018-07-01 $136,000 (6.3%) $170,264 (8.3%) 0.45 1,016
    2018-08-01 $131,250 (2.6%) $165,203 (6.5%) 0.44 1,051
    2018-09-01 $129,900 (3.9%) $162,459 (5.6%) 0.44 1,019
    2018-10-01 $127,373 (1.9%) $160,132 (3.8%) 0.43 1,003
    2018-11-01 $124,900 (0.0%) $158,417 (2.6%) 0.42 967
    2018-12-01 $124,900 (0.0%) $160,215 (4.7%) 0.43 871
    2019-01-01 $123,800 (3.2%) $160,014 (6.0%) 0.43 800
    2019-02-01 $124,925 (4.1%) $160,215 (5.1%) 0.42 739
    2019-03-01 $126,229 (5.2%) $161,094 (2.3%) 0.41 768
    2019-04-01 $128,500 (2.9%) $163,761 (4.2%) 0.41 793
    2019-05-01 $133,325 (2.8%) $169,827 (1.8%) 0.42 865
    2019-06-01 $139,900 (3.7%) $175,321 (3.0%) 0.44 961
    2019-07-01 $139,900 (2.9%) $175,027 (2.8%) 0.44 993
    2019-08-01 $139,655 (6.4%) $173,155 (4.8%) 0.44 1,013
    2019-09-01 $139,286 (7.2%) $173,364 (6.7%) 0.45 1,013
    2019-10-01 $139,000 (9.1%) $173,468 (8.3%) 0.45 1,013
    2019-11-01 $134,900 (8.0%) $169,805 (7.2%) 0.44 947
    2019-12-01 $130,975 (4.9%) $167,619 (4.6%) 0.44 855
    2020-01-01 $129,900 (4.9%) $167,581 (4.7%) 0.43 759
    2020-02-01 $134,900 (8.0%) $171,708 (7.2%) 0.44 723
    2020-03-01 $139,675 (10.7%) $178,085 (10.6%) 0.44 703
    2020-04-01 $138,850 (8.1%) $177,486 (8.4%) 0.43 617
    2020-05-01 $145,450 (9.1%) $188,599 (11.1%) 0.44 584
    2020-06-01 $156,950 (12.2%) $201,460 (14.9%) 0.46 585
    2020-07-01 $161,900 (15.7%) $203,996 (16.6%) 0.47 546
    2020-08-01 $159,900 (14.5%) $210,170 (21.4%) 0.46 549
    2020-09-01 $159,000 (14.2%) $211,813 (22.2%) 0.46 550
    2020-10-01 $153,500 (10.4%) $210,136 (21.1%) 0.44 551
    2020-11-01 $149,725 (11.0%) $220,103 (29.6%) 0.44 514
    2020-12-01 $149,000 (13.8%) $220,087 (31.3%) 0.44 454
    2021-01-01 $139,900 (7.7%) $224,287 (33.8%) 0.42 398
    2021-02-01 $142,400 (5.6%) $245,266 (42.8%) 0.41 326
    2021-03-01 $154,675 (10.7%) $260,215 (46.1%) 0.44 300
    2021-04-01 $172,400 (24.2%) $272,190 (53.4%) 0.47 276
    2021-05-01 $189,900 (30.6%) $251,582 (33.4%) 0.50 301
    2021-06-01 $189,175 (20.5%) $248,040 (23.1%) 0.50 347
    2021-07-01 $187,000 (15.5%) $249,919 (22.5%) 0.49 384
    2021-08-01 $182,675 (14.2%) $251,725 (19.8%) 0.49 413
    2021-09-01 $166,750 (4.9%) $246,447 (16.4%) 0.44 423
    2021-10-01 $159,000 (3.6%) $239,422 (13.9%) 0.42 431
    2021-11-01 $157,875 (5.4%) $240,070 (9.1%) 0.42 407
    2021-12-01 $155,200 (4.2%) $234,119 (6.4%) 0.42 369
    2022-01-01 $154,900 (10.7%) $237,635 (6.0%) 0.42 306
    2022-02-01 $163,450 (14.8%) $251,103 (2.4%) 0.43 252
    2022-03-01 $165,000 (6.7%) $260,260 (0.0%) 0.41 261
    2022-04-01 $173,700 (0.8%) $268,651 (-1.3%) 0.41 259
    2022-05-01 $197,750 (4.1%) $276,456 (9.9%) 0.45 280
    2022-06-01 $187,450 (-0.9%) $261,327 (5.4%) 0.42 324
    2022-07-01 $190,000 (1.6%) $262,011 (4.8%) 0.43 375
    2022-08-01 $185,450 (1.5%) $256,256 (1.8%) 0.43 382
    2022-09-01 $192,425 (15.4%) $259,932 (5.5%) 0.45 372
    2022-10-01 $210,000 (32.1%) $263,548 (10.1%) 0.49 366
    2022-11-01 $204,500 (29.5%) $269,053 (12.1%) 0.49 360
    2022-12-01 $199,900 (28.8%) $268,989 (14.9%) 0.49 336
    2023-01-01 $177,000 (14.3%) $257,154 (8.2%) 0.44 292
    2023-02-01 $184,450 (12.9%) $265,557 (5.8%) 0.45 266
    2023-03-01 $186,875 (13.3%) $272,817 (4.8%) 0.44 241
    2023-04-01 $209,450 (20.6%) $292,762 (9.0%) 0.49 219
    2023-05-01 $192,000 (-2.9%) $287,550 (4.0%) 0.44 225
    2023-06-01 $199,974 (6.7%) $288,624 (10.5%) 0.45 248
    2023-07-01 $199,000 (4.7%) $286,148 (9.2%) 0.45 260
    2023-08-01 $198,500 (7.0%) $279,941 (9.2%) 0.46 270
    2023-09-01 $189,900 (-1.3%) $270,617 (4.1%) 0.44 305
    2023-10-01 $189,450 (-9.8%) $260,826 (-1.0%) 0.45 336
    2023-11-01 $182,225 (-10.9%) $257,073 (-4.5%) 0.43 322
    2023-12-01 $179,000 (-10.5%) $253,528 (-5.8%) 0.44 291
    2024-01-01 $164,450 (-7.1%) $245,452 (-4.6%) 0.40 264
    2024-02-01 $169,000 (-8.4%) $254,305 (-4.2%) 0.41 228
    2024-03-01 $185,000 (-1.0%) $286,965 (5.2%) 0.44 203
    Binghamton's median listing price for 2024-03-01 was $185,000, a difference of $-1,875 (-1.0%) versus the prior year and $16,000 versus the prior month.

    Binghamton's median listing price comes in at 44% of the national average.

    Binghamton's average listing price for 2024-03-01 was $286,965, a difference of $14,148 (5.2%) versus the prior year and $32,660 versus the prior month.

    For the 2024-03-01 period, Binghamton had 203 MLS listings, a difference of -25 listings (-11%) versus the prior month and -38 listings (-16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Binghamton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 103 days 1,751 sqft
    2018-02-01 103 days 1,754 sqft
    2018-03-01 99 days 1,769 sqft
    2018-04-01 77 days 1,799 sqft
    2018-05-01 64 days 1,824 sqft
    2018-06-01 57 days 1,827 sqft
    2018-07-01 61 days 1,854 sqft
    2018-08-01 66 days 1,813 sqft
    2018-09-01 74 days 1,800 sqft
    2018-10-01 79 days 1,785 sqft
    2018-11-01 77 days 1,762 sqft
    2018-12-01 85 days 1,743 sqft
    2019-01-01 95 days 1,726 sqft
    2019-02-01 100 days 1,752 sqft
    2019-03-01 83 days 1,773 sqft
    2019-04-01 63 days 1,808 sqft
    2019-05-01 60 days 1,850 sqft
    2019-06-01 57 days 1,851 sqft
    2019-07-01 59 days 1,812 sqft
    2019-08-01 64 days 1,825 sqft
    2019-09-01 71 days 1,845 sqft
    2019-10-01 77 days 1,858 sqft
    2019-11-01 80 days 1,824 sqft
    2019-12-01 92 days 1,807 sqft
    2020-01-01 95 days 1,807 sqft
    2020-02-01 96 days 1,852 sqft
    2020-03-01 79 days 1,875 sqft
    2020-04-01 86 days 1,860 sqft
    2020-05-01 92 days 1,864 sqft
    2020-06-01 71 days 1,942 sqft
    2020-07-01 42 days 1,935 sqft
    2020-08-01 46 days 1,878 sqft
    2020-09-01 47 days 1,950 sqft
    2020-10-01 52 days 1,872 sqft
    2020-11-01 60 days 1,879 sqft
    2020-12-01 73 days 1,801 sqft
    2021-01-01 86 days 1,744 sqft
    2021-02-01 93 days 1,800 sqft
    2021-03-01 59 days 1,864 sqft
    2021-04-01 38 days 1,869 sqft
    2021-05-01 31 days 1,880 sqft
    2021-06-01 30 days 1,862 sqft
    2021-07-01 33 days 1,874 sqft
    2021-08-01 38 days 1,858 sqft
    2021-09-01 41 days 1,838 sqft
    2021-10-01 47 days 1,806 sqft
    2021-11-01 56 days 1,815 sqft
    2021-12-01 64 days 1,770 sqft
    2022-01-01 77 days 1,761 sqft
    2022-02-01 78 days 1,868 sqft
    2022-03-01 49 days 1,870 sqft
    2022-04-01 46 days 1,832 sqft
    2022-05-01 41 days 1,928 sqft
    2022-06-01 31 days 1,872 sqft
    2022-07-01 35 days 1,862 sqft
    2022-08-01 42 days 1,808 sqft
    2022-09-01 51 days 1,821 sqft
    2022-10-01 51 days 1,872 sqft
    2022-11-01 52 days 1,882 sqft
    2022-12-01 67 days 1,924 sqft
    2023-01-01 81 days 1,812 sqft
    2023-02-01 81 days 1,862 sqft
    2023-03-01 60 days 1,888 sqft
    2023-04-01 42 days 1,903 sqft
    2023-05-01 37 days 1,873 sqft
    2023-06-01 35 days 1,880 sqft
    2023-07-01 37 days 1,858 sqft
    2023-08-01 39 days 1,828 sqft
    2023-09-01 36 days 1,744 sqft
    2023-10-01 42 days 1,735 sqft
    2023-11-01 47 days 1,720 sqft
    2023-12-01 58 days 1,704 sqft
    2024-01-01 64 days 1,690 sqft
    2024-02-01 71 days 1,638 sqft
    2024-03-01 46 days 1,743 sqft
    Binghamton's median listing age (time on market) for 2024-03-01 was 46 days. This is -24% shorter than the same period one year ago.

    Binghamton's median square footage for active listings during the 2024-03-01 period was 1,743 sqft. One year prior, the average listing was 1,888 sqft.