Blacksburg USDA Loan Rates, Closing Costs & Stats
BLACKSBURG-CHRISTIANSBURG, VA
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.
Blacksburg's 17 lenders originated 70 USDA loans during 2023. The total origination value was $11,750,000, with an average USDA loan value of $167,857.
Blacksburg USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Blacksburg
averaged
6.69%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Blacksburg's average USDA mortgage closing costs are $4,689.
The average rate for the prior week (2024-04-12) was
6.54% and
one month ago for the week of 2024-03-15, the
average rate was 6.62%.
The average rate one year ago was 6.36%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.73%.
Blacksburg 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 Blacksburg level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| Alcova Mortgage LLC | 20 | 7.00% | $3,179 |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | 19 | 6.74% | $6,586 |
| FREEDOM FIRST | 5 | 6.10% | $4,820 |
| First Heritage Mortgage, LLC | 4 | 6.19% | $6,249 |
| MOVEMENT MORTGAGE, LLC | 4 | 6.34% | $7,244 |
| EMBRACE HOME LOANS, INC. | 3 | 6.21% | $6,413 |
| Waterstone Mortgage Corporation | 2 | 6.56% | $7,209 |
| First Reliance Bank | 2 | 6.75% | $5,565 |
| Renasant Bank | 2 | 6.69% | $5,710 |
| The Federal Savings Bank | 2 | 6.13% | $7,145 |
| Citizens Bank | 1 | 6.25% | $5,220 |
| PLAZA HOME MORTGAGE, INC. | 1 | 5.75% | $10,057 |
| Prosperity Home Mortgage, LLC | 1 | 7.13% | $6,159 |
| TOWNE MORTGAGE COMPANY | 1 | 7.25% | $5,574 |
| CARDINAL FINANCIAL | 1 | 5.75% | $7,392 |
| Atlantic Union Bank | 1 | 6.00% | $5,073 |
| Keystone Funding, Inc. | 1 | 6.13% | $11,512 |
The top Blacksburg USDA lender as defined by loan originations is Alcova Mortgage LLC, with
20 USDA loans originated. Their average total fees are
$3,179, which is $3,406
lower than the next largest lender,
ATLANTIC BAY MORTGAGE GROUP, L.L.C..
The lowest fee Blacksburg USDA lenders (with over 10 loans originated) are
Alcova Mortgage LLC ($3,179), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($6,586), .
The lowest rate Blacksburg USDA lenders (with over 10 loans originated) are
ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.74%), Alcova Mortgage LLC (7.00%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Blacksburg (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 | $231,200 (42.4%) | $345,598 (56.8%) | 0.86 | 395 |
| 2018-02-01 | $221,900 (29.8%) | $278,295 (20.4%) | 0.81 | 410 |
| 2018-03-01 | $224,900 (20.4%) | $277,334 (14.3%) | 0.79 | 442 |
| 2018-04-01 | $229,225 (14.9%) | $283,519 (10.4%) | 0.78 | 442 |
| 2018-05-01 | $225,000 (12.8%) | $277,544 (7.7%) | 0.75 | 491 |
| 2018-06-01 | $215,900 (7.1%) | $278,724 (7.4%) | 0.72 | 514 |
| 2018-07-01 | $209,900 (5.2%) | $269,496 (4.5%) | 0.70 | 553 |
| 2018-08-01 | $211,000 (6.0%) | $272,680 (4.9%) | 0.71 | 544 |
| 2018-09-01 | $210,000 (3.3%) | $273,740 (6.3%) | 0.71 | 528 |
| 2018-10-01 | $211,850 (1.1%) | $264,112 (1.6%) | 0.72 | 509 |
| 2018-11-01 | $216,400 (-0.3%) | $273,605 (2.9%) | 0.73 | 473 |
| 2018-12-01 | $217,900 (-3.2%) | $281,719 (1.0%) | 0.75 | 422 |
| 2019-01-01 | $214,994 (-7.0%) | $293,331 (-15.1%) | 0.74 | 392 |
| 2019-02-01 | $229,900 (3.6%) | $301,546 (8.4%) | 0.78 | 377 |
| 2019-03-01 | $234,229 (4.2%) | $307,816 (11.0%) | 0.77 | 386 |
| 2019-04-01 | $239,600 (4.5%) | $315,075 (11.1%) | 0.76 | 396 |
| 2019-05-01 | $237,113 (5.4%) | $311,115 (12.1%) | 0.74 | 421 |
| 2019-06-01 | $239,000 (10.7%) | $322,917 (15.9%) | 0.75 | 410 |
| 2019-07-01 | $249,938 (19.1%) | $343,784 (27.6%) | 0.78 | 414 |
| 2019-08-01 | $244,464 (15.9%) | $338,071 (24.0%) | 0.77 | 410 |
| 2019-09-01 | $236,272 (12.5%) | $331,192 (21.0%) | 0.76 | 399 |
| 2019-10-01 | $229,450 (8.3%) | $320,595 (21.4%) | 0.74 | 386 |
| 2019-11-01 | $227,000 (4.9%) | $312,838 (14.3%) | 0.74 | 360 |
| 2019-12-01 | $214,900 (-1.4%) | $317,806 (12.8%) | 0.72 | 315 |
| 2020-01-01 | $204,838 (-4.7%) | $307,666 (4.9%) | 0.68 | 301 |
| 2020-02-01 | $205,000 (-10.8%) | $315,367 (4.6%) | 0.67 | 293 |
| 2020-03-01 | $234,238 (0.0%) | $316,728 (2.9%) | 0.73 | 308 |
| 2020-04-01 | $237,975 (-0.7%) | $321,511 (2.0%) | 0.75 | 306 |
| 2020-05-01 | $253,900 (7.1%) | $338,708 (8.9%) | 0.77 | 259 |
| 2020-06-01 | $268,100 (12.2%) | $346,021 (7.2%) | 0.79 | 273 |
| 2020-07-01 | $269,200 (7.7%) | $351,142 (2.1%) | 0.78 | 252 |
| 2020-08-01 | $259,945 (6.3%) | $349,046 (3.3%) | 0.74 | 242 |
| 2020-09-01 | $241,950 (2.4%) | $340,893 (2.9%) | 0.69 | 239 |
| 2020-10-01 | $239,900 (4.6%) | $332,872 (3.8%) | 0.69 | 234 |
| 2020-11-01 | $234,563 (3.3%) | $323,706 (3.5%) | 0.69 | 229 |
| 2020-12-01 | $228,450 (6.3%) | $319,228 (0.5%) | 0.68 | 205 |
| 2021-01-01 | $244,750 (19.5%) | $323,869 (5.3%) | 0.73 | 167 |
| 2021-02-01 | $252,350 (23.1%) | $339,681 (7.7%) | 0.73 | 151 |
| 2021-03-01 | $272,400 (16.3%) | $360,571 (13.8%) | 0.77 | 133 |
| 2021-04-01 | $287,950 (21.0%) | $407,221 (26.7%) | 0.78 | 142 |
| 2021-05-01 | $296,900 (16.9%) | $398,535 (17.7%) | 0.79 | 152 |
| 2021-06-01 | $296,725 (10.7%) | $390,176 (12.8%) | 0.78 | 186 |
| 2021-07-01 | $289,900 (7.7%) | $405,940 (15.6%) | 0.76 | 208 |
| 2021-08-01 | $285,150 (9.7%) | $387,677 (11.1%) | 0.76 | 198 |
| 2021-09-01 | $276,000 (14.1%) | $383,540 (12.5%) | 0.74 | 199 |
| 2021-10-01 | $259,900 (8.3%) | $360,854 (8.4%) | 0.69 | 178 |
| 2021-11-01 | $249,900 (6.5%) | $368,147 (13.7%) | 0.67 | 142 |
| 2021-12-01 | $249,900 (9.4%) | $377,967 (18.4%) | 0.68 | 124 |
| 2022-01-01 | $262,950 (7.4%) | $419,181 (29.4%) | 0.71 | 109 |
| 2022-02-01 | $267,700 (6.1%) | $405,739 (19.5%) | 0.70 | 129 |
| 2022-03-01 | $294,900 (8.3%) | $435,784 (20.9%) | 0.74 | 122 |
| 2022-04-01 | $307,200 (6.7%) | $441,260 (8.4%) | 0.73 | 154 |
| 2022-05-01 | $349,900 (17.9%) | $447,883 (12.4%) | 0.80 | 196 |
| 2022-06-01 | $349,725 (17.9%) | $441,520 (13.2%) | 0.78 | 236 |
| 2022-07-01 | $359,000 (23.8%) | $429,377 (5.8%) | 0.81 | 254 |
| 2022-08-01 | $327,375 (14.8%) | $416,029 (7.3%) | 0.76 | 238 |
| 2022-09-01 | $289,000 (4.7%) | $391,662 (2.1%) | 0.68 | 230 |
| 2022-10-01 | $315,000 (21.2%) | $406,183 (12.6%) | 0.74 | 223 |
| 2022-11-01 | $323,620 (29.5%) | $412,406 (12.0%) | 0.78 | 209 |
| 2022-12-01 | $325,000 (30.1%) | $430,258 (13.8%) | 0.80 | 178 |
| 2023-01-01 | $344,950 (31.2%) | $449,874 (7.3%) | 0.85 | 157 |
| 2023-02-01 | $346,975 (29.6%) | $452,823 (11.6%) | 0.84 | 172 |
| 2023-03-01 | $339,900 (15.3%) | $455,123 (4.4%) | 0.80 | 181 |
| 2023-04-01 | $355,250 (15.6%) | $464,552 (5.3%) | 0.83 | 178 |
| 2023-05-01 | $388,863 (11.1%) | $484,930 (8.3%) | 0.88 | 181 |
| 2023-06-01 | $367,425 (5.1%) | $475,854 (7.8%) | 0.83 | 188 |
| 2023-07-01 | $369,900 (3.0%) | $474,197 (10.4%) | 0.84 | 190 |
| 2023-08-01 | $370,000 (13.0%) | $472,767 (13.6%) | 0.85 | 198 |
| 2023-09-01 | $357,475 (23.7%) | $465,953 (19.0%) | 0.83 | 209 |
| 2023-10-01 | $352,500 (11.9%) | $454,430 (11.9%) | 0.83 | 224 |
| 2023-11-01 | $364,475 (12.6%) | $463,287 (12.3%) | 0.87 | 223 |
| 2023-12-01 | $369,000 (13.5%) | $461,242 (7.2%) | 0.90 | 214 |
| 2024-01-01 | $367,000 (6.4%) | $458,436 (1.9%) | 0.90 | 195 |
| 2024-02-01 | $367,000 (5.8%) | $460,358 (1.7%) | 0.88 | 185 |
| 2024-03-01 | $369,000 (8.6%) | $470,002 (3.3%) | 0.87 | 206 |
Blacksburg's median listing price comes in at 87% of the national average.
Blacksburg's average listing price for 2024-03-01 was $470,002, a difference of $14,879 (3.3%) versus the prior year and $9,644 versus the prior month.
For the 2024-03-01 period, Blacksburg had 206 MLS listings, a difference of 21 listings (11%) versus the prior month and 25 listings (14%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Blacksburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 91 days | 1,942 sqft |
| 2018-02-01 | 84 days | 1,872 sqft |
| 2018-03-01 | 59 days | 1,860 sqft |
| 2018-04-01 | 54 days | 1,908 sqft |
| 2018-05-01 | 48 days | 1,866 sqft |
| 2018-06-01 | 50 days | 1,850 sqft |
| 2018-07-01 | 61 days | 1,809 sqft |
| 2018-08-01 | 64 days | 1,849 sqft |
| 2018-09-01 | 80 days | 1,850 sqft |
| 2018-10-01 | 86 days | 1,820 sqft |
| 2018-11-01 | 96 days | 1,835 sqft |
| 2018-12-01 | 102 days | 1,800 sqft |
| 2019-01-01 | 104 days | 1,835 sqft |
| 2019-02-01 | 103 days | 1,850 sqft |
| 2019-03-01 | 70 days | 1,849 sqft |
| 2019-04-01 | 43 days | 1,912 sqft |
| 2019-05-01 | 45 days | 1,874 sqft |
| 2019-06-01 | 55 days | 1,916 sqft |
| 2019-07-01 | 66 days | 1,975 sqft |
| 2019-08-01 | 71 days | 1,960 sqft |
| 2019-09-01 | 75 days | 1,938 sqft |
| 2019-10-01 | 82 days | 1,912 sqft |
| 2019-11-01 | 89 days | 1,836 sqft |
| 2019-12-01 | 100 days | 1,769 sqft |
| 2020-01-01 | 93 days | 1,713 sqft |
| 2020-02-01 | 87 days | 1,730 sqft |
| 2020-03-01 | 65 days | 1,804 sqft |
| 2020-04-01 | 62 days | 1,865 sqft |
| 2020-05-01 | 79 days | 1,875 sqft |
| 2020-06-01 | 71 days | 1,960 sqft |
| 2020-07-01 | 57 days | 1,979 sqft |
| 2020-08-01 | 67 days | 1,956 sqft |
| 2020-09-01 | 59 days | 1,919 sqft |
| 2020-10-01 | 61 days | 1,820 sqft |
| 2020-11-01 | 61 days | 1,822 sqft |
| 2020-12-01 | 66 days | 1,745 sqft |
| 2021-01-01 | 79 days | 1,728 sqft |
| 2021-02-01 | 81 days | 1,796 sqft |
| 2021-03-01 | 53 days | 1,976 sqft |
| 2021-04-01 | 38 days | 2,048 sqft |
| 2021-05-01 | 40 days | 1,875 sqft |
| 2021-06-01 | 40 days | 1,880 sqft |
| 2021-07-01 | 47 days | 1,903 sqft |
| 2021-08-01 | 52 days | 1,800 sqft |
| 2021-09-01 | 55 days | 1,775 sqft |
| 2021-10-01 | 61 days | 1,755 sqft |
| 2021-11-01 | 76 days | 1,724 sqft |
| 2021-12-01 | 87 days | 1,712 sqft |
| 2022-01-01 | 64 days | 1,749 sqft |
| 2022-02-01 | 37 days | 1,672 sqft |
| 2022-03-01 | 38 days | 1,769 sqft |
| 2022-04-01 | 38 days | 1,818 sqft |
| 2022-05-01 | 31 days | 1,985 sqft |
| 2022-06-01 | 34 days | 2,058 sqft |
| 2022-07-01 | 45 days | 2,025 sqft |
| 2022-08-01 | 48 days | 1,970 sqft |
| 2022-09-01 | 52 days | 1,896 sqft |
| 2022-10-01 | 59 days | 1,931 sqft |
| 2022-11-01 | 55 days | 1,943 sqft |
| 2022-12-01 | 65 days | 1,900 sqft |
| 2023-01-01 | 68 days | 1,988 sqft |
| 2023-02-01 | 44 days | 1,944 sqft |
| 2023-03-01 | 45 days | 1,928 sqft |
| 2023-04-01 | 47 days | 1,932 sqft |
| 2023-05-01 | 44 days | 1,971 sqft |
| 2023-06-01 | 43 days | 1,995 sqft |
| 2023-07-01 | 43 days | 2,134 sqft |
| 2023-08-01 | 40 days | 2,051 sqft |
| 2023-09-01 | 41 days | 2,024 sqft |
| 2023-10-01 | 45 days | 1,959 sqft |
| 2023-11-01 | 46 days | 1,967 sqft |
| 2023-12-01 | 51 days | 2,028 sqft |
| 2024-01-01 | 61 days | 2,066 sqft |
| 2024-02-01 | 59 days | 2,078 sqft |
| 2024-03-01 | 43 days | 2,019 sqft |
Blacksburg's median square footage for active listings during the 2024-03-01 period was 2,019 sqft. One year prior, the average listing was 1,928 sqft.