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 6.72% for the week of 2024-06-07, compared to the national average (all USDA variants) of 6.699% for the same period.

Blacksburg's average USDA mortgage closing costs are $4,689.

The average rate for the prior week (2024-05-31) was 6.6% and one month ago for the week of 2024-05-03, the average rate was 6.9%.

The average rate one year ago was 6.9%.

For refis of the same type during the week of 2024-06-07, the average rate was 7.27%.

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 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
2024-04-01 $378,670 (6.6%) $483,681 (4.1%) 0.88 215
2024-05-01 $430,950 (10.8%) $509,903 (5.2%) 0.97 234
Blacksburg's median listing price for 2024-05-01 was $430,950, a difference of $42,087 (10.8%) versus the prior year and $52,280 versus the prior month.

Blacksburg's median listing price comes in at 97% of the national average.

Blacksburg's average listing price for 2024-05-01 was $509,903, a difference of $24,973 (5.2%) versus the prior year and $26,222 versus the prior month.

For the 2024-05-01 period, Blacksburg had 234 MLS listings, a difference of 19 listings (9%) versus the prior month and 53 listings (29%) 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
2024-04-01 41 days 2,088 sqft
2024-05-01 41 days 2,183 sqft
Blacksburg's median listing age (time on market) for 2024-05-01 was 41 days. This is -7% shorter than the same period one year ago.

Blacksburg's median square footage for active listings during the 2024-05-01 period was 2,183 sqft. One year prior, the average listing was 1,971 sqft.