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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.