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 19 lenders originated 85 USDA loans during 2024. The total origination value was $16,385,000, with an average USDA loan value of $192,765.
Blacksburg USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Blacksburg
averaged
0.07%
for the week of 2025-06-20, compared to the national average (all USDA variants) of
0% for the same period.
Blacksburg's average USDA mortgage closing costs are $4,767.
The average rate for the prior week (2025-06-13) was
6.87% and
one month ago for the week of 2025-05-16, the
average rate was 6.53%.
The average rate one year ago was 7.05%.
For refis of the same type during the week of 2025-06-20, the average rate
was 0.31%.
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 | 2024 Avg. 30yFix Rate | 2024 Avg. Closing Costs |
|---|---|---|---|
| Alcova Mortgage LLC | 23 | 6.73% | $2,565 |
| ATLANTIC BAY MORTGAGE GROUP, L.L.C. | 13 | 6.38% | $7,244 |
| The Federal Savings Bank | 9 | 6.15% | $6,658 |
| First Heritage Mortgage, LLC | 6 | 5.96% | $7,380 |
| MOVEMENT MORTGAGE, LLC | 5 | 6.80% | $6,134 |
| FREEDOM FIRST | 4 | 5.81% | $6,018 |
| Waterstone Mortgage Corporation | 3 | 6.33% | $8,284 |
| NEWREZ LLC | 3 | 6.71% | $5,752 |
| Renasant Bank | 3 | 6.38% | $6,862 |
| UNITED WHOLESALE MORTGAGE, LLC | 3 | 6.25% | $7,838 |
| First Reliance Bank | 2 | 6.13% | $6,500 |
| Prosperity Home Mortgage, LLC | 2 | 6.75% | $5,715 |
| Atlantic Union Bank | 2 | 6.56% | $7,931 |
| AMERICAN FINANCIAL NETWORK, INC. | 1 | 6.13% | $9,431 |
| CMG MORTGAGE, INC. | 1 | 6.63% | $7,992 |
| Loan Simple, Inc. | 1 | 6.75% | $10,363 |
| GUARANTEED RATE, INC. | 1 | 6.75% | $8,001 |
| BROKER SOLUTIONS, INC. | 1 | 6.63% | $7,168 |
| TOWNE MORTGAGE COMPANY | 1 | 6.25% | $3,677 |
The top Blacksburg USDA lender as defined by loan originations is Alcova Mortgage LLC, with
23 USDA loans originated. Their average total fees are
$2,565, which is $4,679
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 ($2,565), ATLANTIC BAY MORTGAGE GROUP, L.L.C. ($7,244), .
The lowest rate Blacksburg USDA lenders (with over 10 loans originated) are
ATLANTIC BAY MORTGAGE GROUP, L.L.C. (6.38%), Alcova Mortgage LLC (6.73%), .