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 26 lenders originated 245 USDA loans during 2021. The total origination value was $42,915,000, with an average USDA loan value of $175,163.

Blacksburg USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Blacksburg averaged 6.28% for the week of 2023-03-17, compared to the national average (all USDA variants) of 6.497% for the same period.

Blacksburg's average USDA mortgage closing costs are $4,444.

The average rate for the prior week (2023-03-10) was 6.8% and one month ago for the week of 2023-02-10, the average rate was 6.16%.

The average rate one year ago was 4.25%.

For refis of the same type during the week of 2023-03-17, the average rate was 6.13%.

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

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 69 2.98% $5,493
Alcova Mortgage LLC 35 2.80% $2,835
The Federal Savings Bank 24 2.49% $4,831
EMBRACE HOME LOANS, INC. 20 2.95% $4,755
Prosperity Home Mortgage, LLC 14 2.84% $5,305
MOVEMENT MORTGAGE, LLC 13 3.05% $4,459
CALIBER HOME LOANS, INC. 13 2.66% $4,112
RESIDENTIAL MORTGAGE SERVICES, INC. 9 2.94% $4,686
FREEDOM FIRST 8 2.44% $4,758
First Heritage Mortgage, LLC 7 2.77% $5,249
First Reliance Bank 7 2.89% $4,969
UNITED WHOLESALE MORTGAGE, LLC 4 2.75% $5,592
Renasant Bank 4 2.97% $4,840
Blue Ridge Bank 3 2.79% $5,162
TOWNE MORTGAGE COMPANY 2 2.75% $6,693
OVM FINANCIAL, INC. 2 2.69% $5,985
Wells Fargo Bank 1 4.00% $2,384
Atlantic Union Bank 1 2.88% $4,786
Bank of England 1 3.38% $4,616
Flagstar Bank, FSB 1 2.75% $5,078
Integrity Home Mortgage Corp 1 2.75% $4,499
LOANDEPOT.COM, LLC 1 3.38% $5,388
MID AMERICA MORTGAGE, INC. 1 2.88% $3,177
PLAZA HOME MORTGAGE, INC. 1 2.99% $6,079
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.50% $4,629
RESIDENTIAL HOME FUNDING CORP. 1 3.25% $6,032

The top Blacksburg USDA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 69 USDA loans originated. Their average total fees are $5,493, which is $2,658 higher than the next largest lender, Alcova Mortgage LLC.

The lowest fee Blacksburg USDA lenders (with over 10 loans originated) are Alcova Mortgage LLC ($2,835), CALIBER HOME LOANS, INC. ($4,112), MOVEMENT MORTGAGE, LLC ($4,459), EMBRACE HOME LOANS, INC. ($4,755) and The Federal Savings Bank ($4,831).

The lowest rate Blacksburg USDA lenders (with over 10 loans originated) are The Federal Savings Bank (2.49%), CALIBER HOME LOANS, INC. (2.66%), Alcova Mortgage LLC (2.80%), Prosperity Home Mortgage, LLC (2.84%) and EMBRACE HOME LOANS, INC. (2.95%).


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 $230,687 (42.8%) $346,065 (57.3%) 0.86 393
2018-02-01 $221,413 (31.1%) $278,195 (20.5%) 0.80 408
2018-03-01 $224,900 (20.7%) $277,334 (14.6%) 0.79 441
2018-04-01 $229,225 (15.2%) $283,519 (10.6%) 0.78 441
2018-05-01 $225,000 (13.1%) $277,544 (7.9%) 0.75 490
2018-06-01 $215,900 (7.4%) $278,724 (7.5%) 0.72 513
2018-07-01 $209,900 (5.2%) $269,496 (4.6%) 0.70 551
2018-08-01 $211,000 (6.0%) $272,680 (5.0%) 0.71 542
2018-09-01 $210,000 (2.7%) $273,740 (6.3%) 0.70 527
2018-10-01 $211,875 (1.0%) $264,367 (1.6%) 0.72 508
2018-11-01 $216,650 (-1.1%) $273,929 (2.9%) 0.73 472
2018-12-01 $217,900 (-3.6%) $282,137 (1.0%) 0.75 421
2019-01-01 $214,994 (-6.8%) $293,502 (-15.2%) 0.74 392
2019-02-01 $229,900 (3.8%) $301,522 (8.4%) 0.78 377
2019-03-01 $234,229 (4.2%) $307,792 (11.0%) 0.77 386
2019-04-01 $239,950 (4.7%) $315,052 (11.1%) 0.76 397
2019-05-01 $236,825 (5.3%) $310,550 (11.9%) 0.74 422
2019-06-01 $239,000 (10.7%) $322,285 (15.6%) 0.75 411
2019-07-01 $249,950 (19.1%) $344,481 (27.8%) 0.78 413
2019-08-01 $244,482 (15.9%) $338,570 (24.2%) 0.77 409
2019-09-01 $236,280 (12.5%) $331,411 (21.1%) 0.76 399
2019-10-01 $229,450 (8.3%) $320,595 (21.3%) 0.74 386
2019-11-01 $227,000 (4.8%) $312,838 (14.2%) 0.74 360
2019-12-01 $214,900 (-1.4%) $317,806 (12.6%) 0.72 315
2020-01-01 $204,838 (-4.7%) $307,666 (4.8%) 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 (-0.8%) $321,511 (2.1%) 0.75 306
2020-05-01 $253,900 (7.2%) $338,708 (9.1%) 0.77 259
2020-06-01 $267,850 (12.1%) $346,021 (7.4%) 0.79 273
2020-07-01 $269,075 (7.7%) $349,756 (1.5%) 0.78 252
2020-08-01 $259,945 (6.3%) $348,552 (3.0%) 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%) 0.68 229
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%) 0.78 152
2021-06-01 $296,725 (10.8%) $390,176 (12.8%) 0.78 186
2021-07-01 $289,900 (7.7%) $405,940 (16.1%) 0.76 208
2021-08-01 $285,150 (9.7%) $387,677 (11.2%) 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 $348,675 (17.4%) $447,739 (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%) 0.75 238
2022-09-01 $289,000 (4.7%) $391,662 (2.1%) 0.67 230
2022-10-01 $315,000 (21.2%) $406,117 (12.5%) 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
Blacksburg's median listing price for 2023-02-01 was $346,975, a difference of $79,275 (29.6%) versus the prior year and $2,025 versus the prior month.

Blacksburg's median listing price comes in at 84% of the national average.

Blacksburg's average listing price for 2023-02-01 was $452,823, a difference of $47,084 (11.6%) versus the prior year and $2,949 versus the prior month.

For the 2023-02-01 period, Blacksburg had 172 MLS listings, a difference of 15 listings (10%) versus the prior month and 43 listings (33%) 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 98 days 1,942 sqft
2018-02-01 93 days 1,872 sqft
2018-03-01 66 days 1,860 sqft
2018-04-01 61 days 1,908 sqft
2018-05-01 53 days 1,866 sqft
2018-06-01 53 days 1,850 sqft
2018-07-01 67 days 1,809 sqft
2018-08-01 70 days 1,849 sqft
2018-09-01 82 days 1,850 sqft
2018-10-01 95 days 1,822 sqft
2018-11-01 104 days 1,836 sqft
2018-12-01 113 days 1,807 sqft
2019-01-01 117 days 1,835 sqft
2019-02-01 117 days 1,850 sqft
2019-03-01 85 days 1,850 sqft
2019-04-01 53 days 1,914 sqft
2019-05-01 53 days 1,874 sqft
2019-06-01 64 days 1,916 sqft
2019-07-01 76 days 1,976 sqft
2019-08-01 82 days 1,961 sqft
2019-09-01 86 days 1,938 sqft
2019-10-01 93 days 1,912 sqft
2019-11-01 102 days 1,836 sqft
2019-12-01 112 days 1,769 sqft
2020-01-01 112 days 1,713 sqft
2020-02-01 105 days 1,730 sqft
2020-03-01 91 days 1,804 sqft
2020-04-01 81 days 1,865 sqft
2020-05-01 98 days 1,875 sqft
2020-06-01 89 days 1,960 sqft
2020-07-01 86 days 1,981 sqft
2020-08-01 84 days 1,956 sqft
2020-09-01 80 days 1,919 sqft
2020-10-01 80 days 1,820 sqft
2020-11-01 76 days 1,822 sqft
2020-12-01 80 days 1,745 sqft
2021-01-01 93 days 1,728 sqft
2021-02-01 107 days 1,796 sqft
2021-03-01 72 days 1,976 sqft
2021-04-01 41 days 2,048 sqft
2021-05-01 44 days 1,875 sqft
2021-06-01 44 days 1,880 sqft
2021-07-01 50 days 1,903 sqft
2021-08-01 52 days 1,798 sqft
2021-09-01 59 days 1,775 sqft
2021-10-01 69 days 1,755 sqft
2021-11-01 84 days 1,724 sqft
2021-12-01 99 days 1,712 sqft
2022-01-01 73 days 1,749 sqft
2022-02-01 42 days 1,672 sqft
2022-03-01 45 days 1,769 sqft
2022-04-01 41 days 1,818 sqft
2022-05-01 36 days 1,985 sqft
2022-06-01 36 days 2,058 sqft
2022-07-01 46 days 2,025 sqft
2022-08-01 51 days 1,970 sqft
2022-09-01 54 days 1,896 sqft
2022-10-01 63 days 1,932 sqft
2022-11-01 58 days 1,943 sqft
2022-12-01 68 days 1,900 sqft
2023-01-01 74 days 1,988 sqft
2023-02-01 56 days 1,944 sqft
Blacksburg's median listing age (time on market) for 2023-02-01 was 56 days. This is 34% longer than the same period one year ago.

Blacksburg's median square footage for active listings during the 2023-02-01 period was 1,944 sqft. One year prior, the average listing was 1,672 sqft.