Blacksburg USDA Loan Rates, Closing Costs & Stats

BLACKSBURG-CHRISTIANSBURG, VA

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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.

    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.